NTPC
Q1 FY2010
COMPARISON
NTPC has declared results for Q1 FY 2011. These are compared here with the previous quarter (Q4 FY2010), the corresponding quarter (Q1 FY 2010) and proportionately (Q1 FY 2011 x 4) with the full year of FY2010.
Net Sales has gone up by 4.8% to Rs.12944 Cr compared to previous quarter (Rs. 12353 Cr) – up by 7.8% to compared to corresponding Qtr (Rs.12003 Cr) – and also up by 11.8% compared proportionately to the FY2010 (Rs.46323 Cr).
Total Expenditure at Rs.10640 Cr is up by 2.1% compared to previous Qtr - up by 12.7% compared to corresponding Qtr - and up by 16.4% compared proportionately to FY2010.
Profit from Operations is Rs.2662 Cr – up by 15.2% compared to previous Qtr (Rs.2312 Cr) – but DWON by 13.8% compared to corresponding Qtr (Rs.3088 Cr) – and down by 8.7% compared proportionately to FY2010 (Rs.11669 Cr). It can be seen that all expenditure heads are proportionately higher than REVENUE from sales and Interest head is highest. Hence, Profit at operations level and also net proft level have registered significant downtrend.
Net Profit at Rs.1842 Cr is further DOWN by 8.7% compared to previous Qtr (Rs.2012 Cr) – DOWN by 16% compared to corresponding Qtr (Rs.2194 Cr) - and down proportionately compared to FY2010 (Rs.8728) by 15.6%.
Basic EPS at Rs.2.23 – is lower than Rs.2.45 of the previous Qtr -2..66 of corresponding Qtr – and also proportionate EPS of last year (Rs.10.59 for full yr),
Thus, the higher net sales are more than offset by higher expenditures on all fronts resulting in lower profits. NTPC has commissioned some Units as can be seen from the announcements to the exchange below – which may result in more production and sales in future. While NTPC is regularly commissioning its projects, which is quite a good achievement for a Public sector Unit, whether its realizations and profitability will match the private sector competitors is to be seen. However, the private sector companies are far away from completing their large projects.
It is also seen that NTPC has been conferred MAHARATNA status (as per its intimation dt 25.10.2010 to NSE) by Government – which gives it more powers – like M&As, and so on. This should help it in further capacity expansion.
While its current profitability level (of EPS of around 11) can be easily maintained, whether it can improve on the same by keeping strict control on expenditure while improving sales – is to be watched.
RESULTS IN FUGURES:
Jun-10 | Mar-10 | Dif%1 | Jun-09 | Dif%2 | Dif%3 | ||
Net Sales | 1294449 | 1235339 | 4.8 | 1200268 | 7.8 | 4632259 | 11.8 |
Other OptgIncome | 35806 | 37815 | -5.3 | 52529 | -31.8 | 189873 | -24.6 |
Raw Materials | 870231 | 834598 | 4.3 | 774266 | 12.4 | 2946274 | 18.1 |
Employees Cost | 68382 | 74561 | -8.3 | 59042 | 15.8 | 241236 | 13.4 |
Depreciation | 68272 | 73216 | -6.8 | 61279 | 11.4 | 265006 | 3 |
Other Expdr | 57163 | 59606 | -4.1 | 49393 | 15.7 | 202710 | 12.8 |
Total Expdr | 1064048 | 1041981 | 2.1 | 943980 | 12.7 | 3655226 | 16.4 |
Profit -Operations | 266207 | 231173 | 15.2 | 308817 | -13.8 | 1166906 | -8.7 |
Other Income5 | 22687 | 24950 | -9.1 | 25099 | -9.6 | 102533 | -11.5 |
P B I&EI | 288894 | 256123 | 12.8 | 333916 | -13.5 | 1269439 | -9 |
Interest6 | 53575 | 48179 | 11.2 | 44467 | 20.5 | 180893 | 18.5 |
P A I B B EI | 235319 | 207944 | 13.2 | 289449 | -18.7 | 1088546 | -13.5 |
P B T | 235319 | 207944 | 13.2 | 289449 | -18.7 | 1088546 | -13.5 |
Tax expense | 51130 | 6179 | 728 | 70087 | -27 | 215726 | -5.2 |
P A T | 184189 | 201765 | -8.7 | 219362 | -16 | 872820 | -15.6 |
Net Profit | 184189 | 201765 | -8.7 | 219362 | -16 | 872820 | -15.6 |
Dividend% | - | 8 | - | 38 | |||
Face Value | 10 | 10 | 0 | 10 | 0 | 10 | 300 |
Paid Up Eq. | 824546 | 824546 | 0 | 824546 | 0 | 824546 | 300 |
Reserves | - | - | - | 5419196 | |||
Basic EPS A EI | 2.23 | 2.45 | -9 | 2.66 | -16.2 | 10.59 | -15.8 |
Diluted EPS A EI | 2.23 | 2.45 | -9 | 2.66 | -16.2 | 10.59 | -15.8 |
Basic EPS B EI | 2.23 | 2.45 | -9 | 2.66 | -16.2 | 10.59 | -15.8 |
Diluted EPS B EI | 2.23 | 2.45 | -9 | 2.66 | -16.2 | 10.59 | -15.8 |
Public holding (%) | 15.5 | 15.5 | 0 | 10.5 | 47.6 | 15.5 | 300 |
ANNOUNCEMENTS
TO THE EXCHANGE
26-07-2010 NTPC Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 1294449 lacs for quarter ending on 30-JUN-2010 against Rs. 1200268 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 184189 lacs for the quarter ending on 30-JUN-2010 against Rs. 219362 lacs for the quarter ending on 30-JUN-2009.
19-07-2010 Ntpc Limited has informed the Exchange that:"The Unit#6 of 490 MW of National Capital Thermal Power Project, Dadri was synchronized with coal on 16.07.2010. This was the second unit planned to provide power to Common Wealth Games to be organized in Delhi in October 2010. It is expected to achieve full load shortly".
06-07-2010 Ntpc Limited has informed the Exchange that NTPC has signed Production Sharing Contracts (PSCs) on June 30, 2010 with the Govt of India for oil / gas exploration blocks awarded under eighth round of bidding under New Exploration Licensing Policy (NELP-VIII).
20-05-2010 Ntpc Limited has informed the Exchange that Government of India, Deptt. of Public Enterprises, Ministry of Heavy Industries & Public Enterprises vide Office Memorandum dated May 19, 2010 has conveyed grant of Maharatna status to NTPC apart from three other Central Public Sector Enterprises (CPSES). Since, presently NTPC has requisite number of non-official Directors on its Board, therefore, only NTPC is eligible to exercise delegated Maharatna powers. Consequent upon grant of Maharatna status, the Board of Directors of NTPC shall be, inter-alia, empowered to make equity Investment to establish financial joint ventures and wholly-owned subsidiaries and undertake mergers & acquisitions, in India or abroad, subject to a ceiling of 15% of the net worth, limited to Rs. 5000 crore in one project as against earlier limit of Rs. 1000 crore. The exercise of Maharatna powers would be subject to the same conditions and guidelines as laid down by the Government in respect of Navratna CPSEs from time to time.
17-05-2010 Ntpc Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 17, 2010 recommended final dividend Rs. 0.80 per equity share in addition to the interim dividend of Rs.3 per equity share already paid, the total dividend for the year 2009-10 will be Rs.3.80 per equity share.
17-05-2010 NTPC Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 4825641 lacs for year ending on 31-MAR-2010 against Rs. 4424527 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 883765 lacs for the year ending on 31-MAR-2010 against Rs. 809256 lacs for the year ending on 31-MAR-2009.
17-05-2010 NTPC Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 4632259 lacs for year ending on 31-MAR-2010 against Rs. 4192373 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 872820 lacs for the year ending on 31-MAR-2010 against Rs. 820130 lacs for the year ending on 31-MAR-2009.
17-05-2010 NTPC Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 1235339 lacs for quarter ending on 31-MAR-2010 against Rs. 1144578 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 201765 lacs for the quarter ending on 31-MAR-2010 against Rs. 211335 lacs for the quarter ending on 31-MAR-2009.
28-04-2010 Ntpc Limited has informed the Exchange that: "A Joint Venture Company between NTPC Limited (NTPC) and Coal India Limited (CIL) has been incorporated on April 27, 2010 under the name "CIL NTPC Urja Private Limited" (Company). NTPC and CIL shall contribute equally in the equity share capital of the Company. The Company has been formed to carry on the business of acquisition in part or full, of green field or operational Coal/Lignite mine blocks in India and abroad and development of all kinds of Coal/Lignite mining for supply of fuels to the Company, NTPC and other buyers".
27-04-2010 Ntpc Limited has informed the Exchange that: "A Joint Venture Agreement has been executed on 27.04.2010 between NTPC Limited and Nuclear Power Corporation of India Limited (NPCIL) for formation of a Public Limited Company to set up nuclear power project with two nuclear reactor units which may be extended to setting-up additional Nuclear Power Projects subject to techno-economic viability. The proposed Joint Venture Company (JVC) will be a subsidiary of NPCIL in which NPCIL shall hold 51% equity and the balance 49% will be held by NTPC Ltd. The core benefit of nuclear power is that it is a reliable, safe and green source of energy and is also seen as an alternative solution to the issues of global warming as well as the rising fuel security crisis".
22-03-2010 Ntpc Limited has informed the Exchange that "The 500 MW Unit-3 of Kahalgaon Super Thermal Power Project - Stage II (3X500 MW) has commenced commercial operation w.e.f. 00.00 Hrs of March 20, 2010. With the commercial operation of this unit, the commercial capacity of Kahalgaon Super Thermal Power Project is 2340 MW".
15-03-2010 Ntpc Limited has informed the Exchange that the Board of Directors in its meeting held on March 13, 2010 have decided, inter-alia, to pay interim dividend at the rate of 30% (Rs.3.00/- per share) on the face value of paid-up equity shares of Rs.10/- each for the financial year 2009-10.
02-02-2010 Ntpc Limited has informed the Exchange that:"Empowered Group of Ministers (EGoM) in its meeting held on February 01, 2010, has decided the floor price for Further Public Offer of NTPC at Rs.201/- per equity share. EGoM has also decided to offer a discount of Rs.10/- per share to eligible employees submitting bids in the Employee Reservation Portion. The minimum bid lot has been decided as 28 equity shares and in multiples of 28 equity shares thereafter".
29-01-2010 NTPC Limited has informed the Exchange vide its letter dated January 29, 2010 that "Coal Based Unit#5 (490 MW) of National Capital Thermal Power Project, Dadri of NTPC Ltd. located in Uttar Pradesh has been successfully commissioned today i.e. 29.01.2010. It has reached full load of 490MW at 1218 Hours today. This is the first unit planned to provide power to Common Wealth Games to be organised in Delhi in October 2010. With the commissioning of this Unit, the total installed capacity of the Company has crossed 31000 MW and has become 31134 MW."
04-01-2010 Ntpc Limited has informed the Exchange that: (1) Unit # 5 (490 MW) of National Capital Thermal Power Project, Dadri was synchronised with coal on 25.12.2009. This was the first unit planned to provide power to Common Wealth Games to be organised in Delhi in October 2010. (ii) The Board of Directors of NTPC, in its 345th meeting held on 29.12.2009, has accorded approval for the following: (a) A road map to foray into solar power generation business for capacity addition of 301 MW through solar energy by March 2014. Out of 301 MW,190 MW will be added through Solar Thermal technology and the balance 111 MW will be added through Solar PV technology. As a first Step, grid interactive 15 MW solar thermal based project is being taken up by NTPC at Anta in Rajasthan which is first of its kind in India. (b) Investment to undertake Renovation & Modernisation works of 2x210MW (UNIT # 4 and Unit # 5) Badarpur Thermal Power Station (705MW) at an estimated cost of Rs.564.53 Cr (including Taxes and Duties, Contingency, IDC and Financing Charges)".
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