- Total Revenue for FY 09 shoot up by 64.03% to Rs.1111.30 Cr. when compared with FY 08.
- Net Profit after tax for FY 2008-09 up by 51.40% to Rs. 168.27 Cr.
ICSA India Ltd., which provides embedded technology solutions and Infra structure deployment services for the power sector, is pleased to announce its FY 09 results for the period ended March 31, 2009.
The Profit after Tax (PAT) for FY 09 is up by 51.40 % to Rs. 168.27 Cr. as against Rs 111.14 Cr. for FY 08.
Total Income for FY 09 stood at Rs 1113.09 Cr. as against Rs 678.55 Cr. for FY 08, a growth of 64.03 %
Basic EPS stands at Rs.37.10 per share of Rs.2/- each as compared to Rs.27.57 per share of Rs.2/- each for corresponding previous year.
The results for the Q4 FY09 show that the total income stood at Rs 287.14 Cr. as against Rs 212.03 for Q4 FY 08, registering a growth of 35.42 %
Similarly, Profit after Tax (PAT) stood at Rs 34.05 Cr. for Q4 FY09 as against Rs 37.45 Cr. for the corresponding quarter last year.
“A sound order book position to the tune of Rs 1915 Cr. and strong commitment from our clients has ensured our journey on the growth path in the transmission and distribution segment.” Mr. G Bala Reddy, CMD, ICSA India Ltd said on Wednesday following the company’s board meeting.
"We continue to come up with innovative solutions and improve our services on the Infrastructure business for the power sector. However, the year that passed by has seen significant changes in APDRP, which stands as the backbone of the power sector reforms in India. The new policies and implementation procedures of rAPDRP, coupled with the nationwide electoral process have affected the reforms in terms of cease on new project releases and prolonged execution of ongoing projects.
The overdue caused due to structural changes proposed through rAPDRP have a systemic effect on all the stakeholders in the radius with out exceptions to ICSA.”
Going forward during this financial year, while we are set to achieve the targets, revenue is expected to see a shift, since the order book has a higher contribution from infrastructure services compared to embedded technologies business group. The delayed rAPDRP have pushed the technology project cycles by almost 2 quarters which might show effect on our overall business performance. This change is likely to be visible in the quarter already in progress.
Some important highlights during the year include:
- The infrastructure business has shown a tremendous increase in the overall business mix for the quarter over the previous quarters.
- ICSA has bagged orders worth Rs. 515 crores from various clients in Q4. Infrastructure orders make up majority.
- The Raw material cost increased marginally due to the inflationary trend in major input costs during the quarter
- Manpower expenses has come down as a percentage of sales
- The effective tax rate for ICSA has reduced due to the benefits claimed by commissioning of 9.6 MW wind power facility during the year
- PAT has shown a variation from the last year due to a combined effect of increase of costs, interests and variation in tax rate and business mix.
About ICSA (India) Ltd.
ICSA (India) Ltd. provides hardware and software to power firms and electricity boards to tackle AT&C losses. Over 95% of its business comes from the power space and the rest from oil & gas, where it provides solutions for monitoring and protecting pipelines. ICSA (India) Ltd. is also in the business of infrastructure deployment services in transmission and distribution segments like erection of substations and lines. The company counts amongst its investors Goldman Sachs, Morgan Stanley and the Government of Singapore.
The company's product line includes: Intelligent Automatic Meter Reading System, Multiplexer Unit, Distribution Transformer Monitoring System, Substation Controller, Micro Remote Terminal Unit, Theft Detection Devices, and Pole Top RTU. The company has developed products suitable for power utilities in the field of Energy Management, Energy Audit, and Control applications and provides versatile Data Acquisition Systems using GSM, CDMA, and RF.
ICSA makes products, which primarily detect the where, how and how much are the AT&C losses and feed the impacted institutions. Armed with the vital statistics, affected institutions take the necessary steps to plug loopholes.
ICSA enjoys first mover advantage, having begun in FY 2004. It began developing embedded solutions for identifying and minimizing AT&C losses and monitoring power consumption. Its first product was IAMR or the Intelligent Automatic Meter Reading, followed by other products such as DTMS, TDD, iCAP, etc.
ICSA is addressing a critical segment of the economy, and a pressing concern. For more details visit www.icsa-india.com.
