September 2009 - BGR Energy Systems Ltdbgrcorp.com/_pdf.php?f=POWER...
Transcript of September 2009 - BGR Energy Systems Ltdbgrcorp.com/_pdf.php?f=POWER...
September 2009
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BGR Energy – A Snapshot
Promoted by Mr. B.G. Raghupathy (BGR) as a joint venture with GEA Energietechnik GmbH, Germany in 1985
Business in two segments for Power, Oil & Gas sector
Turnkey project engineering and contracting; and
Supply of systems and equipment for Power, Oil & Gas industries
Accreditations
ISO:9001 Certification for three Manufacturing Units
ASME ‘U’ Stamp for two Manufacturing Units
ASME ‘S’ certification for one Manufacturing Unit
Approved by Indian Boiler Regulations (IBR)
Joint Venture and strategic alliances with multinational companies to cater to Power, Oil and Gas sectors
Recipient of 14 prestigious awards for export performance
Global operations – executed more than 150 contracts in 45 countries
Orders on hand – INR 92295 Million as on 30th June 2009
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Proven track record in Design, Engineering and Turnkey Project Management capabilities across business divisions
Power Projects Division
Oil & Gas Equipment Division
Air Fin Cooler Division
Electrical Projects Division
Environmental Engineering Division
Captive Power Division
Group Companies
GEA BGR Energy System India Limited
Progen Systems & Technologies Limited
Joint Venture Company
GEA Cooling Tower Technologies (India) Pvt Ltd
Business Divisions
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Revenue break up for
Year ended 31-March-09Order backlog as of
30th June 2009
Total Revenue – INR 19221 Million
Total Order Backlog – INR 92295 Million
86%
3%6%
2%1% 2%
Power Projects
Oil & Gas Equipment
Air Fin Cooler
Electrical Projects
Environmental Engineering
Captive Power
87455
4155685
In INR Million
Turnkey Engineering Project Contracting -Power
Turnkey Engineering Project Contracting -Oil & Gas
Supply of Systems and Equipments
Key Milestones
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Incorporated as a JV with GEA Energietechnik GmbH, Germany
GEA Energietechnik divested its stake to promoters
Secured first EPC contract for 120 MW power plant in Tamil Nadu
Technical collaboration agreement with GEA Btt, France
Collaboration agreement with Crane Environment Inc, USA
1987
1993
1994
2001
2003
2006
1998
2000
First BOP order for a 95 MW CCPP
2007
Received power trading license
Received first 500 MW BOP contract from APGENCO for Vijayawada TPP
Won a contract for large gas processing complex from SCOP, Iraq
2008
Received 2x600 MW EPC contract from RRVUNL for Kalisindh TPP
Received 1x600 MW EPC contract from TNEB for Mettur TPP
Power Projects Division
established
Company Listed
2009Technical collaboration agreement with TME, Italy for CPP
Favorable Indian Industry Dynamics
(Billion Units)
Source: CEA & Min of Power
53%
10%
1%25%3
Coal Gas Oil Hydro Nuclear Renewable
Total – 152,148 MW
Total installed capacity – August 2009
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519 548 579 624 666 689559 591 632 691 739 774
7.1% 7.3% 8.4% 9.6%
9.9% 11.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
0
250
500
750
1000
2003-04 2004-05 2005-06 2006-07 2007-08 2008-09
Power Supply Power Demand % Deficit
53%
1%
11%
24%
3%8%
Source: CEA & Min of Power – Jan 2009
132329
78700
86500
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
Upto 10th Plan(past 50 Yrs actual)
11th & 12th Plan(future 10 Yrs plan)
In M
W
165200
12th Plan
11th Plan
Future 10 years planned capacity exceeds Past 50 years actual installed capacity
Potential in Indian Power Sector – Energizing India
PLAN Targets for Generation Capacity Addition
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PLAN Targets for Generation Capacity Addition
Source: CEA & Min of Power – Jan 2009
34653
86014
39007760
45627
104193
15380
0
10000
20000
30000
40000
50000
60000
70000
80000
90000
100000
110000
120000
Hydro Thermal Nuclear R.E.S
Upto 10th Plan(past 50 Yrs actuals)
11th Plan(2007-12)
12th Plan(2012-17)
30000
44500
59693
In M
W
1562712000
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Power Projects Division
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Turnkey Engineering, Procurement & Construction (EPC) Contracting –3 x 600 MW
Balance of Plant (BOP) Contracting –7 x 500 MW
In-house design and engineering capabilities, gives edge in Cost , design and Project Schedule
40 – 50% of „Balance of Plant‟ systems manufactured in-house
Secured perhaps the India‟s largest ever EPC contract for 2 x 600 MW power Project
Early adopter of BOP concept in India
Income of Rs.16440 Million in FY 08-09
Order backlog of Rs.87346 Million as of 30th June 2009
Total Income from Power Projects Division
1141
3926
9251
16440
FY05 FY07 (18 Months)
FY08 FY09
INR
Mil
lio
n
330 MW CCPP RRVUNL, Dholpur, Rajasthan
120 MW CCPP Aban Power, Karuppur, Tamil Nadu
95 MW CCPP Valuthur(Phase I), Tamil Nadu
10Vijayawada Thermal Power Station (Synchronized on 4th Apr „09)
POWER PROJECTS DIVISION - PROJECTS COMPLETED
PROJECT CAPACITY
(MW)FUEL
ORDER VALUE ( Rs. in Million)
SCOPE
Grasim Industries - CPP, Chittorgarh, Rajasthan 23 Coal 444
Turnkey Engineering, Procurement & Construction of Balance of Plant
including Civil Works
TNEB - CCPP, Valathur (Phase I), Tamil Nadu 95 Gas 594
RRVUNL - CCPP, Dholpur, Rajasthan 330 Gas 2095
APGENCO - VTPS, Andhra Pradesh 500 Coal 5788
Aban Power - CCPP, Karuppur, Tamil Nadu 120 Gas 2697Engineering Procurement and
Construction
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POWER PROJECTS DIVISION – EPC PROJECTS UNDER EXECUTION
PROJECT CAPACITY
(MW)FUEL
ORDER VALUE ( Rs. in Million)
Contractual Completion Schedule
RRVUNL - Kalisindh TPS, Rajasthan 2 x 600 Coal 49000 42 Months
TNEB - Mettur TPS, Tamil Nadu 1 x 600 Coal 31000 39 Months
Kalisindh Thermal Power StationBasic layout – Perspective view
Mettur Thermal Power Station Basic layout – Perspective view
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POWER PROJECTS DIVISION – BoP PROJECTS UNDER EXECUTION
PROJECT CAPACITY
(MW)FUEL
ORDER VALUE ( Rs. in Million)
CSPGCL- Marwa TPS, Chhattisgarh 2 x 500 Coal 16330
MAHAGENCO - Chandrapur STPS, Maharashtra 2 x 500 Coal 16320
APGENCO - Kothagudem TPS, Andhra Pradesh 500 Coal 7930
MAHAGENCO - Khaperkheda TPS, Maharashtra 500 Coal 9980
APGENCO - Kakatiya TPS, Andhra Pradesh 500 Coal 6949
Khaperkheda Thermal Power Station (Under Construction)
Kothagudem Thermal Power Station (Under Construction)
Kakatiya Thermal Power Plant(Under Construction)
Oil & Gas Equipment Division
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Products and turnkey services for the Oil & Gas industry
Process Equipment Package and Systems
- 2/3 Phase Separator System / Skids
- Indirect Water Bath Heater
- Gas Conditioning, Regulating & Metering Systems
- Knockout Drums / Scrubbers
- Filter Separators / Dry Gas Filters
Pipeline Equipment - Pig Launchers/Receivers
Compressor Packaging
Storage Tanks
Income of Rs.617 Million in FY 08-09
Order backlog of Rs.4155 Million as on 30th June 2009
Indirect Water Bath Heaters
Compressor Packaging
Received four export orders from the State Company for Oil Projects (SCOP) in Iraq for USD 116.87 Million
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Oil & Gas Equipment Division
S/N Customer Scope Value
(USD in Million)
1Akas & Al-Mansuria Gas
Processing Projects, SCOP, Iraq Engineering, Procurement & Supply of Gas
Gathering Station 80.5
2 New Najaf Oil Depot, SCOP, Iraq Engineering, Procurement & Supply of Oil
Storage Tanks 18.5
3New Aumara Oil Products Depot,
SCOP, Iraq
Design, Engineering, Manufacture and Supply
of Oil Products Storage Tanks 9.3
4 Karbala Oil Products Depot, SCOP, Iraq Engineering, Procurement & Supply of Oil
Storage Tanks 8.57
Assumption: 1 USD = 48 INR
Air Fin Cooler Division
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Turnkey supply of Air Cooled Heat Exchangers for Oil & Gas processes and Power sector industries
Capable of producing all three variations of finned tubes – embedded, extruded and welded finned tubes
Certified by ASME with “U”, “U2” & “R” stamp
Key markets - India, Middle East, Southeast Asia and North Africa
List of clients include Larsen & Toubro Limited, Cameron Systems, Petrofac, Petrojet, Technip KT India Limited, KazStoryService Infrastructure India Pvt Ltd.
Income of Rs.1089 Million in FY 08-09
Order backlog of Rs.582 Million as on 30th June 2009
Air Cooled Heat Exchanger
Air Cooled Heat Exchanger, 120MW CPP Karuppur, Tamil Nadu
Electrical Projects Division
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Undertakes Turnkey contracting for supply of Electrical Systems and Equipment for Power stations and process industries
Offering Turnkey solutions for:
EHV Substations
EHV Transmission Lines
Plant Electricals
Gas Insulated Switchgear Substations
Optical Fiber Communication Network
– OPGW, ADSS & OLTE
Rural Electrification
Electrical Balance of Plant for Thermal/ Hydro & Nuclear Power Projects
Power Trading – Category „F‟ Licensee
Exclusive partnership with JZT provides turnkey solutions for OPGW communication networks
Offers GIS Substations in association with leading manufacturers on case to case basis
Income of Rs.381 Million in FY 08-09
Order Backlog as on 30th June 2009 is Rs.109 Million
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66/11 KV KPTCL Substation, Ganji Kunte
Electrical Projects Division
230/11 KV Gas Insulated Substations,Hyundai, Chennai
Environmental Engineering Division
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Product range includes:
Deaerators
Effluent Treatment & Recycling Plants leading to zero discharge
Water Treatment Plants (Pre-Treatment & DM Plant)
RO based Desalination Plants
CPP – Condensate Polishing Plants
Exclusive Technical Collaboration with TERMOMECCANICA, Italy for Condensate Polishing Plants
Supplied on turnkey basis the largest ever Deaerator in India for NPC (Tarapur) with capacity of 3,013 TPH
Under execution - Deaerators for SIPAT Supercritical 3 x 660 MW Power Plant, NTPC
Under execution - Six large-size Deaerators for Marfiq in Saudi Arabia, Hyundai Heavy Industries, Korea
Income of Rs.212 Million in FY 08-09
Order backlog of Rs.103 Million as on 30th June 2009
CPP – Condensate Polishing Plant
Effluent Recycling Plant – Tiruppur
Environmental Engineering Division
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Four large-size Membrane-based Effluent Recycling Plants at Tiruppur –On commissioning would be the largest in capacity in India for treating textile dye effluents
Sold over 100 Deaerators in India, Asia, Middle East and Africa, ranging in capacity from 10 TPH to 3,103 TPH
Deaerator – NPC, Tarapur
Captive Power Division
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EPC Contracting for industrial captive power plants and public utility projects in India up to 150 MW
Captive Power Plants for industries like Steel, Cement, Textiles, Paper, Pharmacy, Refinery, Chemical, Petrochemical, Metallurgical etc
Coal Based Power Plants and Gas based Combined Cycle Power Plants
Commissioned 92.2 MW Valathur (Phase II) CCPP Engineering Procurement & Construction Contract for Tamil Nadu Electricity Board
Commissioned 25 MW TPP Engineering Procurement & Construction Contract in Mettur for Madras Aluminum Company Ltd.
92.2 MW Combined Cycle Power Plant Valathur, Tamil Nadu
Key Differentiators
Proven track record in equipment and Turnkey contracting
Dedicated to Power and Oil & Gas sector
Undertakes turnkey EPC projects for large Utility Power Plants upto 600 MW
Diverse Design & Engineering capabilities
Ability to Design & Manufacture customised products
In-house Design & Engineering gives control over costs, design, time and competitive edge
Diverse range of products and services
Significant synergies through complementary operations
Ability to service both large and small scale projects
Project management system and policy enable execution of large, multifaceted, complex projects
Manufacturing capability is an added advantage in EPC projects
Cost Competitiveness
Control costs by optimising product features and design
Global sourcing
Technology tie-ups
Successfully tied up with several international companies to obtain technology and know-how21
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1. Design & Engineering of Civil, Electrical and Mechanical
Systems10. Effluent Treatment Plant
2. Civil Works including 11. Demineralization Plant
a. Chimney 12. Ash Handling System
b. Natural and Induced Draft Cooling Tower 13. Coal Handling System
3. Substation and Switchyard 14. Gas Conditioning & Metering Skid
4. Plant Piping System 15. Fabrication of Columns & Structures
5. Air Fin Cooler 16. Welded Finned Tubes
6. Air Cooled Condenser 17. Heat Recovery Steam Generator
7. Deaerator 18. On-line Condenser Tube Cleaning System
8. Desalination Plant including RO System 19. Debris Filter
9. Condensate Polishing Plant 20. Rubber Cleaning Balls for Condenser
BOP Package – In House Systems
Growth Strategy
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Focus on large BOP contracts and EPC contracts
Effective Project Management skills and In-house Design & Engineering capabilities to access the growing demand for power projects
Provides a competitive edge over Cost, Design and Schedule
Expansion of business & operations
Expansion of Products & Customer
Identify new competitive markets that provide cost and operational advantages to clients
Acquire Technology for equipment for Power, Oil & Gas projects
Synergistic acquisitions and joint ventures to expand Business
Build technological capabilities to execute large, technically complex projects and services in Oil & Gas Industries
Strategic alliances or consortia or joint venture relationships for specific projects with established International companies
Board of Directors
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S/N Name & OccupationIndustry
Experience (Years)Designation
1Mr. B.G. RaghupathyIndustrialist
35 Chairman & Managing Director
2Mr. T. Sankaralingam Company Executive
34 Managing Director
2Mr. S. RathinamCompany Executive
30 Director (Finance)
3Mr. V.R. MahadevanCompany Executive
26Director (Technologies, HR & Infrastructure)
4Mr. Heinrich BöhmerBusiness
48 Independent Director
5Mr. M. Gopalakrishna, Retd. IASDirector-In-charge, Andhra Pradesh Gas Power Corporation Limited
48 Independent Director
6Mr. S.A. BohraEx. Sr. Exec. Director (Technical)Nuclear Power Corporation
44 Independent Director
7Mr. S.R. TagatChartered Accountant
28 Independent Director
8Mrs. Sasikala RaghupathyBusiness
24 Director
Leadership & Professional Management The company is managed by a highly motivated team of professionals
The Management of the company has rich and deep experience in the industry
– Average industry experience of the management is more than 25 years
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Name PositionIndustry Experience
(Years)Experience with
BGR Energy
Mr. B.G. Raghupathy Chairman & Managing Director 35 24
Mr. T. Sankaralingam Managing Director 34
Mr. S. Rathinam Director (Finance) 30 17
Mr. V.R. Mahadevan Director (Technologies, HR & Infrastructure) 26 21
Mr. A. Swaminathan President & CEO, Power Projects 30 12
Major H.L. Khajuria President & CEO, Environmental Engineering 38 11
Mr. R. Ramesh Kumar President, Corporate & Secretary 21 16
Mr. G. Suresh President & CEO, Captive Power 23 20
Mr. V. Balakrishnan President & CEO, Electrical Projects 26 5
Mr. S. Ilanchezhiyan President & CEO, Air Fin Cooler 23 2
Mr. N. Murali President & CEO, Oil & Gas Equipment 28 2
Mr. G.D. Sharma President , Human Resource 29 1
Mr. P.R. Easwar Kumar Chief Financial Officer 16 15
Human Resources
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Particulars No. of Employees
Total Employees 1604
Engineers 1348
Design & Engineering 848
Project Management & Quality Control 373
Planning, Procurement and Production 85
Marketing 42
Professional Staff 202
Finance and Accounts 96
Human resource, Legal, Secretarial and Systems 106
Others 54
As on 31st Aug ‟09
3 Years Financials – A Snapshot
27
INR Million
Audited period ended31.03.2007(18 months)
%Audited
Year ended 31.3.2008
(12 months)
%Audited
Year ended 31.3.2009
(12 months)
%
TURNOVER 7751 100 15048 100 19221 100
EBIDTA 857 11.06 1510 10.03 2080 10.82
PBT 605 7.81 1252 8.32 1747 9.09
PAT 392 5.06 844 5.61 1150 5.98
Robust Financials
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Total Revenues EBITDA and EBITDA margin
PAT and PAT margin Earnings per share
Note: * FY07 is 18 months period ending March ’07;
7751
1504819221
FY 07* FY 08 FY 09
INR
Mil
lio
n
857 1510
2081
11.1%
10.0%
10.8%
FY 07* FY 08 FY 09
INR
Mil
lio
n
EBITDA EBITDA Margin
392844
11515.1%
5.6%
6.0%
FY 07* FY 08 FY 09
INR
Mil
lio
n
PAT PAT Margin
4.03
12.64
15.98
FY 07* FY 08 FY 09
INR
29
Total Revenues
EBIDTA
23
24
31
11
38
28 57
86
30
68
42
46
47
24 7
18
3
31
11
Q1 Q2 Q3 Q4
INR
Mil
lio
n
FY 07-08 FY 08-09 FY 09-10
27
1
33
0
39
5 53
0
31
2 44
4
53
6
83
6
42
2
Q1 Q2 Q3 Q4
INR
Mil
lio
n
FY 07-08 FY 08-09 FY 09-10
Quarterly Financials
30
PAT
Earnings Per Share
Quarterly Financials
14
7
16
0
21
8 31
9
17
2 23
7
27
2
47
0
20
2
Q1 Q2 Q3 Q4
INR
Mil
lio
n
FY 07-08 FY 08-09 FY 09-10
2.2
7
2.4
7
3.3
2
4.4
3
2.3
9
3.2
9
3.7
8
6.5
2
2.8
1
Q1 Q2 Q3 Q4
INR
Mil
lio
n
FY 07-08 FY 08-09 FY 09-10