Techno Electric q2 fy 13 results out. Again as expected the renewable energy (read wind energy here) remains the show stealer.
Some excerpts from press release of results.
Q2FY13 vs. Q2FY12 (Consolidated)
ï* Total Income from Operations at Rs 204.45 crore vs. Rs 242.16 crore; down
ï* EBIDTA at Rs. 92.96 crore vs. Rs. 84.82 crore; an increase of 9.6 %
ï* EBIDTA margin at 45.47% vs. 35.03% in Q2FY12
ï* PAT at Rs 68.15 crore against Rs 58.19 crore; up 17.11%
H1FY13 vs. H1FY12 (Consolidated)
ï* Total Income from Operations at Rs 398.13 crore vs. Rs 431.88 crore; down
ï* EBIDTA at Rs. 169.37 crore vs. Rs. 137.9 crore; an increase of 22.81%
ï* EBIDTA margin at 42.54% vs. 31.93% in H1FY12
ï* PAT at Rs 108.84 crore against Rs 91.01 crore; up 19.59%
half yearly eps of 19.
debt at sep 12 – long term 447 crores plus short term 239 crores – total debt 686 crores as compared to 560 crores in sep 11.
Coming to segmental results details, the energy division contributed 102 crores of ebidta for first half ending sep 12 as compared to 58 crores for first half ending sep 11
The epc division sales has been going down and was at 260 crores as compared to 350 crores whereas ebidta from this division was 36 crores as compared to 56 crores. But this seems to be a conscious decision of management not to focus too much on low margin contracts and stay away from the rate race.
The basic theme of investing is of a company aiming to be a force in wind energy and that is playing out quite well. All that needs to be monitored is the performance of EPC division as once it picks up the company can start firing on all cylinders.