TRANSFORMERS & RECTIFIERS
This Ahmedabad based company is on a roll. Just a few days before announcement of its numbers, like a prelude, it stated that it had achieved the highest ever production of 20,650 MVA for the FY14 v/s production of 13,217 MVA in FY13. And its financial performance reflected this robustness. For Q4Fy14, the company recorded a whopping 128% jump in net profit at Rs.9 crore on a 20% jump in net revenue at Rs.240 crore. But FY14 numbers were not as exuberant, as the previous three quarters had been weak. It ended FY14 with a 413 rise in consoldiated net sales at Rs.720 crore and rise in net profit was very flat, lower than net profit of Q4, at Rs.5.18 crore v/s Rs.4.91 crore in FY13, up just 5.5%. Vis-à-vis the Q4 numbers, this Fy14 performance looks very dull.
The company blamed the lower FY14 performance on the Govt due to poor decision making, stalling several crucial projects. But with order inflows picking up from Q4, the company expects the trend to continue in FY15, a fiscal which it expects to be much better. The company’s order book, as at 1st April 2014 stood at Rs.400 crore, with working capital at around Rs.155 crore. For FY15, it has set itself a target of 27,000 MVA, which should not be tough given the 20,650 MVA it managed to achieve in FY14, despite three poor quarters.