Pages

15 February 2011

IDFC research:: A2Z MAINTENANCE & ENGINEERING SERVICES

Please Share:: Bookmark and Share India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

A2Z MAINTENANCE & ENGINEERING SERVICES


• A2Z Maintenance & Engineering Services is a diversified business group with a presence in EPC (power and roads),
municipal solid waste management, renewable energy generation, and facilities management services.
• It clocked revenues of Rs12.2bn, EBIDTA of Rs2bn, PAT of Rs981m, and an ROE of 24% in FY10. Power EPC accounts
for ~90% of the company’s revenue base.
• The company listed on the bourses in December 2010. The proceeds of Rs6.75bn would be used mainly for
investments in power plants that A2Z is developing in the renewable energy sector and for meeting increased
working capital requirements.
• A2Z is setting up 185MW worth of projects in the renewable energy segment (cogeneration and biomass) in Punjab,
Rajasthan and Uttar Pradesh, with 135MW scheduled to be operational by December 2011.
• It also has a strong presence in facilities management services and derived revenues of Rs910m from this segment in
FY10. Its key clients include Aircel, Apollo Munich, DMRC and Indian Railways.
• The company provides IT solutions for AT&C loss reductions. It has also partnered with Sterlite Technologies for
undertaking projects under R-APDRP. It has an ongoing automated meter reading project in Jabalpur.
• A2Z recently entered the e-waste management business and is implementing a project in Kanpur.
• The FMS business earns 5-6% PAT margins and has a receivable cycle of 60-65 days.
• The company aims to enhance its focus on solid waste management and renewable energy.
• It is developing a remote metering solution to reduce metering losses and errors.
• A2Z expects its EPC business to grow at ~25% annually in the near term, driven by strong growth opportunities in the
power sector.

No comments:

Post a Comment