TD POWER SYSTEMS LIMITED
March 2016
Company Presentation
BUSINESS STRUCTURE
Manufacturing
Manufacturer of AC Generators
(Up to 200 MW)
o Diversified portfolio customized for a wide range of turbines (steam, gas, hydro and wind) and
engines (diesel and gas)
o Since inception, manufactured 2,990 generators, including generators exported to 72
countries, with aggregate output capacity of 22,849 MW
o Three manufacturing facilities in Bangalore, backed by captive power/water supplies and a
well-developed ancillary vendor network
o Sales through OEM’s, which are turbine and engine manufacturers; strong engineering
consultant relationships allow deep involvement in project tendering
Projects business
(Turbine Generator Island projects of output capacity up to 52 MW)
o Steam turbine power plant projects combining TDPS’ generators with Japanese turbines
o Completed 108 TG island projects with aggregate output capacity of 2,217 MW
o Projects executed in India, Uganda, Kenya, Zambia and the Philippines
Projects
EPC business
(Engineering, Procurement, Construction of Projects of output capacity upto 150 MW)
o Steam turbine power plant projects based on equipment sourced from multiple global OEMs
o Completed 13 BTG island projects with aggregate output capacity of 997 MW
2
STATE OF THE ART MANUFACTURING FACILITIES AND COST
EFFICIENT PRODUCTION
Manufacturing units with advanced machines help in delivering competitively priced products with
the highest quality standards
Unit I - 157,624 sq ft
ISO 9001:2008 compliant
manufacturing units in
Bangalore
Core building, Coil making, Winding & Machining
Impregnation and curing Balancing
Final assembly and testing
Material Handling & General Facilities
Power House
R&D Centre
Quality lab and instruments
Unit I Factory
Unit II – 219,756 sq ft
Core building, Coil making, Winding & Machining
Impregnation and curing Balancing
Final assembly and testing
Material Handling & General Facilities
Power House
R&D Centre
Quality lab and instruments
Unit II Factory
2 Pole Factory – 78,449 sq ft
Core building, Coil making, & Winding
Impregnation and curing
Final assembly and testing
Material Handling & General Facilities
Power House (Common with Unit 2)
R&D Centre (Common with Unit 2)
Quality lab (Common with Unit 2) and instruments
2 Pole Factory
3
FINANCIALS: FY16
Particulars – Rs. Million
FY16
FY15
5,269.40
6,219.43
EBITDA
268.73
386.07
Margins (%)
5.10%
6.21%
Depreciation
288.07
287.63
49.82
38.87
PBT
(69.15)
59.57
Tax
22.70
67.86
PAT
(91.85)
(8.28)
Total Income
Interest
4
PENDING ORDER
Total – Rs. 3,751 Million
1,953
1,226
572
Domestic
1,149
1,226
Export
Deemed Export
16
789
572
Domestic
Export
Deemed
Export
Manufacturing
Rs. 2,947 Million
Domestic
-
-
Export
Deemed
Export
Projects Business
Rs. 789 Million
Domestic
-
-
Export
Deemed
Export
EPC Business
Rs. 16 Million
5
REVENUE ANALYSIS
Total Revenue* Rs. 5,295 million
3,128
1,776
391
Domestic
1,696
1,729
Export
Deemed Export
231
1,201
391
Domestic
Export
Deemed
Export
Manufacturing Revenues* Rs. 3,816 million
Domestic
47
-
Export
Deemed
Export
Projects Business - Rs. 1,248 million
* Prior to inter-segment and inter-company eliminations
Domestic
-
-
Export
Deemed
Export
EPC Business - Rs. 231 million
6
BUSINESS SEGMENT: MANUFACTURING
Business Highlights


AC Generators for various applications
One of the leading manufacturers of AC Generators in the
range of 1 MW up to 200 MW for prime movers such as
steam & gas, and upto 52 MW for hydro, wind
turbines, diesel and gas engines.
Turbines
Steam
Three manufacturing facilities in Bangalore equipped with
the latest technology.

Our generators have
engineering consultants.
been
approved
by
Up to 20 Mw
1,729
391
Export
Deemed Export
Gas
Up to 12MW
Special Applications
Other Generators
Geo Thermal / Solar application
For Motor /transformer testing
Customized
Key Segment Financials (Rs Mn)
15%
15%
13%
9%
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
-
4,115
3,816
3,768
3,259
2,940
734
FY12
Domestic
3 MW
Diesel
18%
1,696
Wind
Up to 15 MW
leading
Revenue Analysis FY16 (Rs. 3,816 Mn)
Hydro
Horizontal - Up to 15 MW
Vertical – Up to 35 MW
Engines
2,990 generators supplied as of March 31, 2016 with an
aggregate output capacity of over 22,849 MW in 72
Countries.

Gas
Up to 200 MW
482
447
FY13
FY14
Revenue
482
FY15
352
FY16
EBITD
EBITD Margins
Segmental revenues without inter-segment & inter-company elimination. Segmental EBITD
margins is on consol levels after adjusting income/expenses of wholly owned subsidiary.
EBITDA – Earnings Before Interest, Taxes, Depreciation, Amortization
7
BUSINESS SEGMENT : MANUFACTURING
Product-wise sales (%)
100%
90%
Key end user Industries (%)
100%
0%
5%
10%
0%
5%
23%
80%
7%
6%
1%
13%
90%
9%
7%
80%
29%
29%
11%
70%
39%
60%
70%
Traction
60%
Gas
50%
40%
Others
Diesel
84%
Hydro
69%
30%
44%
20%
49%
49%
Steam
40%
20%
0%
0%
FY14
FY15
2%
30%
1%
Others
29%
Metal
39%
29%
23%
11%
Hydro
Sugar
11%
Power
22%
17%
13%
12%
FY13
FY14
30%
18%
26%
8%
10%
FY15
FY16
* Others include Chemical, Food, Paper, Textile, Process, Wind, Distillery, Fertilizer etc
Pending Order FY16 (%) (Rs. 2,947 Mn)
Customer Profile FY16 (%)
New Customers
Repeat Customers
Revenue of Top 10
Customers (%)*
5%
1,226
1,149
4%
10%
FY12
FY16
*Other units include generators for transformer motor testing applications not reflected in charts
above
21%
30%
10%
FY13
21%
17%
50%
10%
FY12
30%
34%
69%
69%
52%
54%
FY14
FY15
65%
572
95%
Domestic
Export
Deemed Export
FY12
FY13
FY16
* Of Restated Consolidated Net Sales
Product portfolio spread across diverse and loyal customer base
8
BUSINESS SEGMENT: PROJECT BUSINESS
Business highlights

TG Projects for steam turbine power plants with output capacity of upto 52 MW done under TD Power Systems Ltd

DF Power Systems Private Ltd, a wholly owned subsidiary, executes EPC projects for steam turbine power plants with output
capacity up to 150 MW

Executed 121 projects aggregating 3,214 MW in India and abroad (108 TG island projects and 13 BTG island projects)

Experienced teams with established track record and reputation for efficient project management

Power Projects order book as on March 31st, 2016 stands at Rs. 804 Mn (98% in TDPS, 2% in DFPS)
EPC Projects – Key segment Financials (Rs Mn)
TG Projects including Japan WOS - Key Segment Financials (Rs Mn)
9%
10%
6%
5%
6%
4%
-15%
-10%
8%
-94%
3,000
4, 500
2,621
3, 500
2,000
1,682
3, 000
1,500
2, 500
1,248
991
1,000
500
4,166
4, 000
2,500
2, 000
155
159
61
50
98
-
FY12
FY13
FY14
Reve nue
1,633
1,218
1, 500
613
FY15
FY16
EBIT D
1,577
1, 000
500
261
231
64
( 500)
FY12
FY13
FY14
-119
Revenu e
EBITD
FY15
-240
FY16
-218
EBITD Margins
EBITD Margins
Segmental revenues without inter-segment elimination, including Japan subsidiary
EBITDA – Earnings Before Interest, Taxes, Depreciation, Amortization
Established track record of executing power projects
9
FINANCIAL TRACK RECORD
Segmental Revenues Consolidated (Rs Mn)
12,000
10,000
8,000
6,000
4,000
2,000
0
FY12
FY13
FY14
FY15
FY16
EPC
4,166
1,633
1,218
1,577
231
Project Business
2,621
1,682
613
991
1,248
Manufacturing
4,115
2,940
3,259
3,768
3,816
Segmental revenues without inter-segment elimination
EBITDA – Earnings Before Interest, Taxes, Depreciation, Amortization including Other Income
10
FINANCIAL TRACK RECORD
Segmental EBITDA Consolidated (Rs Mn)
1,400
1,200
1,000
800
600
400
200
0
(200)
(400)
FY12
FY13
FY14
FY15
FY16
EPC
261
64
(119)
(240)
(218)
Project Business
155
159
61
50
98
Manufacturing
734
447
482
482
352
Segmental revenues without inter-segment elimination
EBITDA – Earnings Before Interest, Taxes, Depreciation, Amortization including Other Income
11
P & L SNAPSHOT
Consolidated
Rs Mn
FY12
FY13
FY14
FY15
FY16
Sales
10,316
5,871
4,802
5.974
5,068
919
495
198
141
67
91
124
150
288
288
EBIT
827
371
49
(147)
(221)
Other Income
224
308
341
245
202
66
34
36
40
50
PBT
986
644
354
59
(69)
Tax
326
227
126
68
23
Restated PAT
671
417
227
(9)
(92)
0
0
0
0
0
671
417
227
(9)
(92)
EBITDA margin (%)
8.6%
8.4%
4.1%
2.40%
1.32%
PAT margin (%)
6.1%
7.1%
4.7%
(-0.2%)
(-1.8%)
EBITDA
Depreciation (incl. Amortization)
Interest and Finance Charges
Minority Interest
Restated PAT after minority interest
EBITDA – Earnings Before Interest, Taxes, Depreciation, Amortization and Other Income
12
BALANCE SHEET SNAPSHOT
Mar-12
Mar-13
Consolidated
As on
Mar-14
Source of Funds
Net Worth
Minority Interest
Borrowings
Deferred Tax Liability
5,035
4,603
5,348
4,941
5,851
5,076
5,691
4,940
5,162
4,733
346
85
270
137
630
146
574
177
276
153
Uses of Funds
Gross Block
Less :- Depreciation
Net Block
CWIP
Technical Knowhow
Net Working Capital incl. cash
5,035
1,641
326
1,315
126
3,593
5,348
2,447
449
1,998
162
3,188
5,851
2,788
594
2,194
540
3,117
5,691
3,542
876
2,667
49
2,975
5,162
3,681
1,136
2,545
7
37
2,574
Current Assets
Inventories
Sundry Debtors
Cash and Bank Balances
Loans & Advances
Current Liabilities
Provisions
7,413
830
2,402
3,022
1,159
3,676
144
6,259
530
1,778
2,905
1,046
2,938
133
6,946
863
2,218
2,404
1,461
3,680
149
6,245
760
1,551
2,721
1.212
3,095
175
5,340
881
1,552
2,258
648
2,567
200
Rs Mn
Mar-15
Mar-16
EBITDA – Earnings Before Interest, Taxes, Depreciation, Amortization and Other Income
13
SHAREHOLDING STRUCTURE
Shareholding %
7.11%
TDPS Stock Price Movement
Promoters
0.62%
190
170
6.38%
Mutual Funds
11.23%
Foreign Portfolio
Investors
54.05%
20.61%
Individuals
Corporate Bodies
150
130
110
90
70
50
Others
6-Sep-11
8-Sep-11
6-Sep-12
TDPS
6-Sep-13
BSE_SENSEX
6-Sep-14
6-Sep-15 11-May-16
BSE_CG
As on 31st March, 2016
14
THANK YOU