Alstom T&D India Limited has announced its financial results for the third quarter of the year and first nine months of 2012-13, following approval by the Company's Board of Directors.
For the quarter ending 31st December, 2012, Alstom T&D India again achieved strong growth in orders, up 78% over the same quarter of the previous year, leading to a backlog of Rs. 6,646 Crores, up 53%, against December 2011. Sales increased by 4.4% to Rs.711 Crores over the same quarter last year. Operating Profit for the quarter reached 4.6%, compared to 1.4% in the second quarter of 2012-13.
Despite a healthy backlog, sales were flat at Rs. 2,063 Crores over the first nine months of 2012/13, largely affected by customer-related project delays, due to several issues, including difficulties in land procurement, fuel shortages and project clearances. Over the first nine months, Operating Profit reached 4.3% compared to 8.6% achieved last year, due to low market prices and provisioning for some customers, due to their perceived weak financial position.
During the quarter, Alstom T&D India won a number of significant orders from Power Grid such as the Fixed Series Compensation package at the Wardha 400 kV substation, 765 kV Reactors for the Padghe, Aurangabad, Bhiwani, Meerut and NRSS Load Dispatch System in the Southern Region, a bulk 765 kV circuit breaker package and the 220 kV air-insulated substation at Myanmar. In addition, Alstom T&D India also won a major 400 kV gas-insulated substation package for UP BOOT and another order from Bajaj Hindustan for a large e-BoP package for the 3x660 MW Lalitpur power project.
During the same quarter, Alstom T&D India commissioned several major projects including 765 kV substations, e-BoP project for GMR's Warora power plant and the 400 kV substations for the Jindal power plant at Tamnar. Alstom T&D India also unveiled the world's first 1200 kV double knee type disconnector at Padappai, Tamil Nadu, for Power Grid Corporation India Limited (PGCIL).
Commenting on the results, Rathin Basu, Managing Director, Alstom T&D India said: "Thanks to our wide portfolio of products and solutions offerings, Alstom T&D India has successfully mitigated adverse market conditions by winning significant orders from a wide selection of customers. Despite the difficult economic environment, we have maintained good performance and order backlog, owing to our leadership position in the segment and our customers' confidence earned through satisfactory delivery of our commitments."
Alstom is a global leader in the world of power generation, power transmission and rail infrastructure and sets the benchmark for innovative and environmentally friendly technologies. Alstom builds the fastest train and the highest capacity automated metro in the world, provides turnkey integrated power plant solutions and associated services for a wide variety of energy sources, including hydro, nuclear, gas, coal and wind, and it offers a wide range of solutions for power transmission, with a focus on smart grids. The Group employs 92,000 people in around 100 countries. It had sales of Ç20 billion and booked close to Ç22 billion in orders in 2011/12.
Alstom T&D India (globally known as Alstom Grid), is a market leader in the Indian power transmission sector. It has over 100 years of expertise in building the transmission infrastructure for the country. Alstom has a strong portfolio of products, solutions and services, comprising the entire range of transmission equipment up to Extra and Ultra High Voltages (765 kV and beyond) including air-insulated switchgear (AIS) and locally manufactured power transformers and gas-insulated switchgear (GIS). It also provides power electronics solutions (HVDC, FACTS) to create super highways and offers highly advanced power management Smart Grid solutions for transmission and distribution including renewable energies integration. With over 3,500 employees and eight world class manufacturing units, Alstom T&D India is future ready to support the rapidly evolving transmission sector in India.