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Engineering: A year full of challenges

Jun 11, 2009

India's engineering and capital goods companies have dealt with various obstacles over the past year four quarters of FY09. In the early part of the year, concerns regarding rising commodity prices hit companies' directly and indirectly. Directly, as their margins were impacted (higher input costs). Indirectly, as their clients lowered or delayed their investments on account of rising input costs.

Capital goods: December quarter review

Feb 12, 2009

The third quarter of FY09 did not bring about any stark difference in the performance of Indian engineering companies when compared to their performance in the previous quarter (2QFY09). In 3QFY09, while revenue growth remained good, profits were under pressure for most of the companies.

Capital goods: September quarter review

Nov 7, 2008

The BSE Capital Goods index has been at the receiving end the year till date. The index is down by nearly 64% from its 52-week high as compared to the BSE Sensex, which is down by 54%. In this article, let us have a look at how few of the sector companies have performed during the quarter ended September 2008 on an aggregate basis

Capital goods: June quarter review

Aug 12, 2008

Rising commodity prices and continuous news flows of a worldwide economic slowdown had brought a sense of caution and pessimism amongst investors in the past few months. As such, the capital goods sector, being highly dependent on the investment cycle, was at the receiving end.

Opportunities in power transmission

Jul 3, 2008

Power transmission plays an equal if not a bigger part in a nation's power sector growth as compared to the generation and distribution segments. The transmission segment involves companies that are involved in transmitting power generated at the plant to the distribution company (for the latter to ultimately distribute it to final consumers of power) along with engineering companies that set up transmission projects and manufacture equipments such as transmission lines, power cables, transforme

Bhel: A review

Dec 17, 2002

When we reported on Bharat Heavy Electricals Limited (Bhel) September quarter performance, the headline read 'Orderbook at Rs 135 bn'. The headline indicated the way we view Bhel's story. This company's performance cannot be judged on a quarter to quarter basis.

Thermax: Strong performance continues…

Nov 12, 2002

Thermax Limited's September quarter numbers reiterate the company's comeback. It has posted a huge 48% rise in turnover during the quarter and seen an encouraging expansion in its operating margins. Higher tax provision has pruned bottomline growth to 24% YoY.

Bhel: Orderbook at Rs 135 bn

Oct 29, 2002

Engineering behemoth, Bharat Heavy Electricals Limited (Bhel) has posted an 11% YoY dip in 2QFY03 net sales. A dip in the operating margins and higher tax provisions for the quarter resulted in a 26% dip in bottomline. This performance is however better than its 1QFY03 performance where it declared a net loss of Rs 489 m. Also, on a half yearly basis, the picture looks very positive.

Bhel: June quarter in red, again...

Jul 31, 2002

Engineering behemoth, Bharat Heavy Electricals Limited (Bhel) has posted a net loss of Rs 489 m in its first quarter ended June 30, 2002. The performance is much better than the Rs 1,252 m loss it reported in 1QFY02. However, the results again bring to fore the volatile nature of Bhel's earnings. The company had finished FY02 with over 14% topline and 44% bottomline growth.

Exports mar Cummins topline

Jul 29, 2002

Cummins India has has logged in a 29% YoY decline in net profit during 1QFY03. Lower net sales (down over 20%) were largely a result of lower exports during the quarter. This largely contributed to the decline in bottomline.

Thermax: Getting better with time

Jul 17, 2002

Thermax Limited posted a net profit of Rs 27 m during the June quarter in the current year, as compared to a net loss of Rs 17 m in the corresponding period last fiscal. Sales during the quarter were up 21% YoY. Quoting the company's release, this is the first time in the last five years that Thermax has posted profits in 1Q, usually considered to be a dull period for its target markets.

Crompton: No pep in numbers

Jul 10, 2002

Crompton Greaves tryst with restructuring continues. FY02 was a momentous year for the company, as it turned back into the black. The first quarter of FY03 is a continuation of that trend. Crompton recorded 6% topline growth YoY and finished the quarter with a Rs 6 m profit, as compared to Rs 57 m loss reported in 1QFY02.

Siemens: Healthy FY03 but…

May 28, 2002

Since January 2002 the stock price of Siemens Limited has shot up by nearly 50%. Siemens is a leading electrical and electronics company, is the flagship of the Siemens Group in India. The reasons for this flare up are not hard to find.

Crompton: Turnaround on course

Apr 30, 2002

Crompton Greaves Limited, India's largest private sector electrical equipment manufacturer continues its battle for survival. The company has declared Rs 40 m as net profit during FY02 as compared to a net loss of Rs 732 m last year. The company's turnover saw 18% growth YoY.

Bhel: March quarter magic!

Apr 3, 2002

India's No. 1 engineering behemoth, Bharat Heavy Electricals Limited (Bhel), continued its journey towards recovery. As per the detailed figures released by the management, Bhel recorded the highest ever net sales of Rs 68,505 m (up 14% YoY) in FY02. More importantly, it earned Rs 4.5 bn as net profit during the period (up 44% YoY).

Crompton: Eye improvement with caution

Feb 25, 2002

Crompton Greaves Limited, India's largest private sector electrical equipment manufacturer continues its battle for survival. Its performance in 3QFY02 is encouraging. During the December quarter, the company has declared a 12% topline growth and Rs 22 m net profit (loss of Rs 371 m in 3QFY01). Cosequently, the stock has surged by over 40% in the last couple of months.

Bhel: Good comeback but…

Jan 28, 2002

India's No. 1 engineering behemoth, Bharat Heavy Electricals Limited (Bhel), continued its journey towards recovery. Against a loss of Rs 1,980 m posted in December quarter last year, Bhel posted a net profit of Rs 802 m in December quarter 2001. The engineering major's gross sales (including excise duties) are up 16% during the quarter.

Crompton: Not yet there

Dec 27, 2001

Crompton Greaves Limited, India`s largest private sector electrical equipment manufacturer continues its battle for survival. Its performance in 2QFY02 has been encouraging. Nevertheless, the company's stock continues to be bound near its 52 week low.

Bhel: The see-saw continues

Nov 9, 2001

Engineering behemoth, Bharat Heavy Electricals Limited (Bhel) has posted a net profit of Rs 1,464 m in its second quarter ended September 30, 2001 as against a net profit of Rs 119 m posted in the same period last fiscal.

ABB: It's the consistency question

Oct 24, 2001

In the September quarter, Asea Brown Boveri, continues its growth momentum. Its topline this quarter (3QFY02) has improved by 15% YoY. However, this growth is slower than what the company has displayed till the first half of the year (36% topline growth).


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