KIFS Result update of: BHEL and TTML

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KIFS Result update of:

BHEL

OVERVIEW

BHEL has diversified its product base over the years and today caters to the needs of almost all the key sectors of the economy. In addition to the power generation equipment , BHEL products cater to a wide spectrum of customers encompassing various fields of operation, like Fertilisers & Petrochemicals, Refineries, Oil Exploration and production, steel and metals etc. BHEL has order book of 65,000 MW of BTG equipment at the end of FY11, giving it a visibility for next 3-4 years. Further, by FY14-FY15 ordering for 13th plan will start, where the opportunity is expected to the tune of 1.5 lakh MW. Company has guided for the order inflows of Rs. 66,550 crore in FY12, about 16-17 GW of BTG orders.

Key highlights:

· Total income  grew by 14% Y-o-Y to Rs. 7540 cr. v/s Rs. 6601 cr in June-10

· Operating Profit grew by 35% Y-o-Y to Rs. 1528 cr.  v/s Rs. 1128 cr in June-10

· OPM grew by 386 bps Y-o-Y to 20.3%  v/s 16.4% in June-10

· Net profit grew by 22% Y-o-Y to Rs. 816 cr.  v/s Rs. 668 cr in June-10

· NPM grew by 112 bps Y-o-Y to 10.8%  v/s 9.7% in June-10.

TTML

OVERVIEW

TTML provides a range of telephony services such as mobile, fixed wireless phones (FWP), public telephone booths & wireline services. Its suite of broadband data network and application services include leased lines, DSL, Wi-Fi, Ethernet, Managed Gateway services & Web Conferencing services. The company has opened True Value Shops, its franchisee models, which gives a platform to display its products and services. It has also launched USB plug-to-surf modems catering to laptop and desktop users.

Key highlights:

· Total income  grew by 5% Y-o-Y to Rs. 590 cr. v/s Rs. 560 cr in June-10

· Operating Profit fell by 85% Y-o-Y to Rs. 121 cr.  v/s Rs. 788 cr in June-10

· OPM fell by 12024 bps Y-o-Y to 20.5%  v/s 140.7% in June-10

· Net profit fell by 121% Y-o-Y to Rs. –119 cr.  v/s Rs. 558 cr in June-10

· NPM fell by 11984 bps Y-o-Y to –20.2% v/s 99.6% in June-10

Thanks and Regards,

KIFS Research