Capital Goods Sector | Q2FY15E Results Preview ::IndiaNivesh

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Capital goods (Electrical Equipment)
Alstom T&D India, BGR Energy Systems, ABB, Siemens
Capital goods sector has remained under pressure in Q2FY15. Capital goods sector
index (part of IIP) has fallen by 3.9% and 11.3% in the month of July and August
respectively.
Order intake of the companies has remained subnormal (based on orders disclosed
by companies) in the quarter. However PGCIL has ordered high technology orders
in this quarter like SVC (won by Siemens worth Rs 4.1 bn) and HVDC order (won by
Alstom worth Rs 32.5 bn), which is likely to improve the margins of these companies.
We expect companies in the sector to report mixed set of numbers in Q2FY15E,
with top-line growth ranging from -9.5% to 10.7% y-o-y



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