The company did not have a very encouraging Q3FY13, with YoY topline falling 10% at Rs.619 crore. This fall in sales was also reflected in its erection and sub-contracting charges, which fell 34%. Raw material costs rose 34% interestingly, employee cost, sequentially was down 13%. It ended the quarter with a net profit at Rs.13.40 crore, down 3%. The company’s total debt as at end of Q3FY13 was at Rs.870 crore of which nearly Rs 630 crore are short term loans while LC outstanding was at Rs.680 crore. This explains the high interest outgo, which in Q3 was at Rs.38 crore and for 9MFY13 stood at Rs.107 crore.

Over 80% of the company’s orders come in from domestic segment, rest from exports. And of this, the lion’s share of 87% comes from transmission and balance from Substation and REC. In Q3, it received Rs.433 crore of new orders. Sequentially, there has been a 4% drop in its order book for the quarter which stands at Rs.4600 crore. 57% of these orders are from transmission segment, 14% from substation and rest from Rural Electrification. In terms of dues from SEBs, Rs.250 crore is due from Maharashtra and Rs.100 crore each from Rajasthan and Tamil Nadu SEBs. It expects to end FY13 with a topline of Rs.2800 crore v/s Rs.2592 crore for FY12. Net profit for 9MFY13 was at Rs.43 crore v/s Rs.85 crore for FY12. Clearly, it needs to have  a super duper Q4 to end FY13 on a higher note.