9MFY11 Net Sales increase by 31%; EBITDA grows 71%, PAT expands by 123% EPS (Basic) of ` 12.48 per share

FOR IMMEDIATE RELEASE
Coimbatore, Tamil Nadu, India, Republic of (Free-Press-Release.com) February 14, 2011 -- Shriram EPC Limited (SEPC), one of the leading service providers of integrated design, engineering, procurement, construction and project management services for power plants, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and overseas and leading manufacturer of wind turbine generators, has announced its unaudited financial results for the quarter and nine months ended December 31, 2010. Details are as under:


9MFY11 vs. 9MFY10 (Standalone)

Net Sales at ` 8,251 million, higher by 31%

EBITDA at ` 1,086 million, expands by 71%

PAT at ` 549 million, up by 123%

EPS (Basic) of ` 12.48 per share


Q3FY11 vs. Q3FY10 (Standalone)

Net Sales at ` 2,771 million, higher by 16%

EBITDA at ` 389 million, expands by 57%

PAT at ` 88 million, up by 18%

EPS (Basic) of ` 2.00 per share






Commenting on the performance, Mr. T. Shivaraman, Managing Director & CEO of Shriram EPC Limited, said:

“I am pleased to report healthy operations and financial performance during the quarter. The growth momentum in the EPC segment continues with process and metallurgy vertical dominating the service mix. The Power segment has witnessed strong order inflows during the quarter due to a strong demand scenario as well as a robust outlook for agri-based feedstocks. Business from the Municipal services segment continues to be stable.

With continued momentum in our Order Book, we look forward to a strong fourth quarter which will help us to drive growth and strengthen our scale and competitive position across all businesses”


Highlights & Order Book Update

• The Standalone order book was at `27.94 billion on December 31, 2010 as compared to `24.91 billion as on September 30, 2010. During the quarter, the company received the following major orders

‐ An order from SAIL for their Durgapur Steel Plant pertaining to de-bottlenecking of a coal handling plant. The value of the order is `68 crore.

‐ An 80MW captive power plant project amounting to `354 crore.

‐ An order from Orient Eco Energy Ltd. for setting up 7.5MW Chicken Litter based power project at Namakkal. The value of the order is `38 crore.

‐ An order from the Corporation of Cochin for setting up a water treatment plant. The value of the order is `14 crore

‐ An order from Tamil Nadu Water Supply and Drainage Board (TWAD) – Madurai for UGSS. The value of the order is `11 crore.

 Shriram EPC associate company Orient Green Power Company Ltd. (OGPL) listed its equity shares on both the BSE and NSE exchanges on 8th October, 2010.

 During the first nine months, Shriram EPC sold its entire investments in Ennore Coke Ltd to Haldia Coke & Chemicals Pvt. Ltd. The profit on this sale (`2,336.28 lakhs) is disclosed as an exceptional item. The Company has invested `4,003.05 lakhs in Haldia Coke & Chemicals Pvt. Ltd for a 47% equity stake.

9MFY11 v/s 9MFY10 (Standalone)

• Net Sales increased by 31% to `8,251.1 million in 9MFY11 from `6,299.3 million in 9MFY10.

• EBITDA was up by 71% at `1,085.8 million in 9MFY11 compared to `633.9 million in 9MFY10.

• PAT was higher at `548.8 million in 9MFY11 from `245.6 million in 9MFY10.

• Basic EPS at `12.48 per share in 9MFY11 as compared to `5.64 per share in 9MFY10.



Q3FY11 v/s Q3FY10 (Standalone)

• Net Sales increased by 16% to `2,771.2 million in Q3FY11 from `2,382.9 million in Q3FY10.

• EBITDA was up by 57% at `388.5 million in Q3FY11 compared to `247.6 million in Q3FY10.

• PAT was higher by 18% at `88.0 million in Q3FY11 from `74.4 million in Q3FY10.

• Basic EPS at `2.00 per share in Q3FY11 as compared to `1.71 per share in Q3FY10.
-ENDS-

About Shriram EPC

Shriram EPC (NSE: SHRIRAMEPC, BSE: 532945) is one of the leading service providers of integrated design, engineering, procurement, construction and project management services for power projects, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and overseas, and is also a leading manufacturer of wind turbine generators (WTG).

The EPC business is focused on providing integrated turnkey solutions for biomass-based power plants, process and metallurgy plants (including cement & thermal power plants), water and wastewater treatment plants, water and sewer infrastructure and pipe rehabilitation. The WTG business is focused on manufacturing, erecting and commissioning of MW Class and KW class WTGs.

Shriram EPC is headquartered in Chennai with offices in Mumbai, New Delhi, Kolkata and Beijing; and WTG and cooling tower factories in Puducherry, Chennai and Umbergaon (Gujarat). Their EPC project experience and footprint reaches across 16 states in India, and internationally in Zambia and France, while their WTG business has completed wind energy projects throughout India.

For further information please contact:

Mr. Dharmarajan R Malini Roy / Anisha Britto
Shriram EPC Limited Citigate Dewe Rogerson
Tel: +91 44 2653 1592 / 33