board meeting sept-12
TRANSCRIPT
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VTIP
BOARD MEETINGHyderabad, 2012-09-03
Board Meeting | C.J. Sriram | 2012-09-03
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2Board Meeting | C.J. Sriram | 2012-09-03
BOARD MEETING AGENDA
1. BM Agenda
2. Draft minutes for review.
3. VTIP- Performance Overview 2011-12.
4. Review of rsu reports - YTD July 2012.
5. Investment : Status up date for 2011-12 & Pn 12-13
6. Customs case- Status report.
7. Investment proposal for development in New land
8. Return to Shareholders September, 2012
9. Cash Pool System
10.Other Points
Risk assessment
Internal audit
http://localhost/var/www/apps/conversion/tmp/scratch_4/Agenda%20Sept-12.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_4/Agenda%20Sept-12.pdf -
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Performance OverviewYTD July 2011-12.
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VTIP Performance Overview : YTD July 2012.
Order Intake : MINR 1479.6 (79.2% FC)
Sales : MINR 1708.6 (80.1% of FC)
Material Quota : MQ 53.0 % (FC-50.8%)
Pfo : MINR 537.7 ( 79.1% of FC)
RoS : 31.1%
ROCE : 60.3%
NWC : MINR 587.7
Free cash Flow : MINR 260.35
Net Debt : MINR 636.6
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Industry Performance Overview : YTD July 2012.
Order Intake : MINR 1240.7 (76.4% FC)
Sales : MINR 1522.9 (82.1% of FC)
Material Quota : MQ 51.9 % (FC-49.7%)
Pfo : MINR 515.5 ( 81.0% of FC)
RoS : 34.2%
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Road Performance Overview : YTD July 2012.
Order Intake : MINR 48.4 (33.4% FC)
Sales : MINR 67.7 (46.69% of FC)
Material Quota : MQ 84.5 % (FC-81.90%)
Pfo : MINR -8.1 ( 78.7% of FC)
RoS : -9.6%
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Rail Performance Overview : YTD July 2012.
Order Intake : MINR 75.0 (163 % FC)
Sales : MINR 76.6 (164.40% of FC)
Material Quota : MQ 61.6 % (FC-70.70 %)
Pfo : MINR 21.3 ( ...% of FC)
RoS : 21.9%
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Organizational Chartas at 03-Sep-2012.
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VTIP - Organisation Chart
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1010Board Meeting | C.J. Sriram | 2012-09-03
rsu Reports VTIPUntil July - 2012
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VTIP - Overview
10/11 11/12 11/12 12/13 13/14
* = 1000 currency units: unit ActualAdv. Act.
31-07-2012F05 (Q2) Plan inp. Plan inp.
OR incl lic./comm. * 20,28,914 14,79,603 18,66,665 22,05,360 23,37,656
Sales * 18,10,749 17,08,613 21,32,772 22,18,478 24,09,975
Division income/expense * 5,82,261 4,88,115 6,17,915 5,45,344 4,99,294
Profit from operations * 6,23,950 5,37,770 6,79,873 6,26,060 5,83,697
RoS (Prof. fr. op. in % of total output) % 32.9 31.1 31.9 28.2 24.2
Capital Employed (Stichtag) * 7,80,564 8,65,830 12,85,293 13,89,945 14,23,514
ROCE % 81.5 60.3 65.9 46.8 41.5
Employees Nos 237 254 257 281 291
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VTIP - Orders
10/11 11/12 11/12 12/13 13/14
* = 1000 currency units: ActualAdv. Act.
31-07-2012F05 (Q2) Plan inp. Plan inp.
OR incl lic./comm. 2,028.91 1,479.60 1,866.66 2,205.36 2,337.66
Calc op prof/(loss) on OR 383.89 - 181.32 192.00 539.44 315.46
Sales 1,810.75 1,708.61 2,132.77 2,218.48 2,409.98
Operating profit/loss incl.com.
444.36 470.07 321.42 502.26 454.71
Orders on hand 1,390.14 1,101.39 1,124.04 1,181.35 1,109.03
Clac. op prof/(loss) on OH 276.03 345.62 297.20 400.28 310.11
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VTIP - Resources
Date prepared 10/11 11/12 11/12 12/13 13/14
* = 1000 currency units: ActualAdv. Act.
31-07-2012F05 (Q2) Plan inp. Plan inp.
Direct industrial employees 85.0 92.0 89.0 92.0 96.0
Indirect industrial employees 28.0 28.0 22.0 30.0 34.0
Industrial employees 113.0 120.0 111.0 122.0 130.0
Direct salaried employees 34.0 36.0 41.0 54.0 56.0
Indirect salaried employees 90.0 98.0 105.0 105.0 105.0
Salaried employees 124.0 134.0 146.0 159.0 161.0
Employees 237.0 254.0 257.0 281.0 291.0
Personnel capacity 318.1 349.8 385.2 426.2 460.2
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1414
VTIP Profit and Loss Account
Date prepared 10/11 11/12 11/12 12/13 13/14
* = 1000 currency units: ActualAdv. Act.
31-07-2012F05 (Q2) Plan inp. Plan inp.
Total output 1,897.19 1,728.57 2,132.77 2,218.48 2,409.98
Cost of materials 965.50 916.49 1,084.15 1,165.58 1,354.42
Personnel exp 130.45 123.91 173.86 199.01 230.04
Depr of assets 34.86 39.83 41.13 52.57 56.44
Other operating expenses 125.28 98.50 147.36 176.19 186.95
Oth op income 6.18 1.97 7.21 7.93 8.72
Other taxes (20A) 16.92 9.84 13.60 7.00 7.15Operating Result 630.34 541.97 679.87 626.06 583.70
Profit from operations 623.95 537.77 679.87 626.06 583.70
Net income/loss (CC) 454.82 398.38 491.42 486.77 457.14
ROS 32.9% 31.1 31.9% 28.2% 24.2%
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VTIP ROCE
Date prepared 10/11 11/12 11/12 12/13 13/14
* = 1000 currency units: ActualAdv. Act.
31-07-2012F05 (Q2) Plan inp. Plan inp.
Profit from operations 623.95 537.77 679.37 624.97 583.70
Intang ass/tang ass 252.82 277.85 726.84 709.27 712.82
Inventories 348.64 372.20 353.04 378.12 438.13
He u adv paym rec 62.30- 62.50- 30.00- 30.00- 50.00-
Trade rec to 3rd party 452.75 293.53 438.24 462.71 452.71
Trade receivables from affil. comp 29.61 83.39 63.87 65.98 75.98
Other assets 26.00 65.83 15.00 15.00 15.00
Prepaid exp 3.29 3.54 2.00 2.00 2.00
Net assets 1,050.81 1,030.84 1,568.99 1,603.07 1,646.64
Trade payables 55.08- 47.82- 60.06- 67.56- 72.56-
Trade payables to affil. comp. con 131.62- 71.42- 126.13- 136.37- 141.37-
Other liabil 83.55- 45.78- 97.50- 9.20- 9.20-
CE* 780.56 865.83 1,285.29 1,389.94 1,423.51
ROCE 81% 60% 66% 47% 41%
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VTIP Ratios
Date prepared 08/09 09/10 10/11 11/12 11/12 12/13 13/14
* = 1000 currency units: Actual Actual ActualAdv. Act.
31-07-2012F05 (Q2) Plan inp. Plan inp.
Total output at selling price valu 10,56,260 13,94,001 18,97,186 17,28,568 21,32,772 22,18,478 24,09,975
Cost of materials 5,47,958 7,22,872 9,65,503 9,16,488 10,84,154 11,65,578 13,54,415
Material quota 51.9 51.9 50.9 53.0 50.8 52.5 56.2
Value added 5,08,302 6,71,129 9,31,683 8,12,080 10,48,618 10,52,900 10,55,560
Personnel exp 97,391 1,08,059 1,30,454 1,23,914 1,73,862 1,99,011 2,30,041
Pers. exp. % of VA 19.2 16.1 14.0 15.3 16.6 18.9 21.8
VA per empl. 2,351 2,948 4,247 3,906 4,315 3,747 3,627
VA per sal empl. 4,430 5,558 8,067 7,348 7,710 6,622 6,556
VA per ind empl. 5,009 6,279 8,970 8,337 9,800 8,630 8,120
Incr.fix.ass. in % of VA 11.2 8.9 8.0 8.0 49.1 3.3 5.7
RoS (Prof. fr. op. in % of total 28.0 29.6 32.9 31.1 31.9 28.2 24.2
ROCE 64.0 68.8 81.5 60.3 65.9 46.8 41.5
Net Debt -4,18,310 -4,57,655 -4,25,840 -6,36,628 -2,95,790 -6,19,677 -9,87,006
CF from operation 2,16,210 3,46,053 7,07,662 6,34,847 5,39,307 5,36,095 5,10,343
Free cash flow 1,58,757 -1,36,849 5,11,987 4,89,556 -30,360 4,46,095 3,97,343
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VTIP Performance of 2011-12 as at 31-07-2012
Net Debt Position in Mio INR
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VTIP Performance of 2011-12 as at 31-07-2012
Cash Conversion Cycle (CCC) in days
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VTIP Sales Growth in MINR
2,132.8
135.4
172.9 166.0186.9 229.2 259.5
265.5
406.7
704.0760.9
942.11,047.7
1,254.8
1,810.7
1,708.6
2,218.4
2,409.9
Act97/98
Act98/99
Act99/00
Act00/01
Act01/02
Act02/03
Act03/04
Act04/05
Act05/06
Act06/07
Act07/08
Act08/09
Act09/10
Act10/11
FC11/12
FC12/13
FC13/14
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VTIP Div Income(MINR) / DI % on Sales
23.827.2
40.0 34.851.5
70.0
53.3
83.1
192.2
151.9
225.0
270.4
382.2
582.3
617.9
545.3
499.3
17.6%
15.7%
24.1%
18.6%
22.5%
27.0%
20.1%
20.4%
27.3%
20.0%
23.9%
25.8%
30.5%
32.2%
29.0%
24.6%
20.7%
Act97/98
Act98/99
Act99/00
Act00/01
Act01/02
Act02/03
Act03/04
Act04/05
Act05/06
Act06/07
Act07/08
Act08/09
Act09/10
Act10/11
FC11/12
FC12/13
FC13/14
%
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VTIP ROCE %
25.2%
40.7%
30.9%
44.3%
54.6%
33.5% 32.4%
52.3%
42.6%
58.5%
64.4%68.8%
81.5%
65.9%
46.8%
41.4%
60.3%
Act98/99
Act99/00
Act00/01
Act01/02
Act02/03
Act03/04
Act04/05
Act05/06
Act06/07
Act07/08
Act08/09
Act09/10
Act10/11
FC11/12
FC12/13
FC13/14
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VTIP CE/Operating Result in MINR
15
122 107 150 157 150
188
292
437 408 424
462
600
766
1,032
1,338 1,407
892
3131 46 44
65 7861
100
219
176
251
298
418
628
680626
584
542
Act97/98
Act98/99
Act99/00
Act00/01
Act01/02
Act02/03
Act03/04
Act04/05
Act05/06
Act06/07
Act07/08
Act08/09
Act09/10
Act10/11
FC11/12
FC12/13
FC13/14
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2525Board Meeting | C.J. Sriram | 2012-09-03
Investment Plan2011-12 & 2012-13
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Investment Budget Vs Actual FY 11-12
1 Euro = Rs. 60
Capital BudgetTotal VTIP
BudgetEst. Actual
Available/
(Deficit)
Total VTIP
BudgetEst. Actual
Available/
(Deficit)
MD - Industry 95,686 61,764 33,922 15,94,767 10,29,406 5,65,360
MD - Rail 6,160 - 6,160 1,02,667 - 1,02,667
MD - Road 23,300 12,895 10,405 3,88,333 2,14,914 1,73,419
Engineering Center 27,155 27,155- - 4,52,580 -4,52,580
Total 1,25,146 1,01,814 23,332 20,85,767 16,96,900 3,88,866
MD-Industry - Land 3,90,000 3,75,000 15,000 65,00,000 62,50,000 2,50,000
VTIP Grand Total 5,15,146 4,76,814 38,332 85,85,767 79,46,900 6,38,866
Amount in TINR Amount in EURO
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FY 11-12 VTIP Sales - performance
MINR
IND ROAD RAIL MARINE VTIP
Sales 1,617 68 86 25 1,797
Sales on Commission 1,392 - 347 422 2,161
TOTAL 3,009 68 433 447 3,958
FC/Budget XXX XXX XXX XXX -
% Achieved XXX XXX XXX XXX -
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Amount in
MEURO
IND ROAD RAIL MARINE VTIP
Sales 25.8 1.1 1.3 0.3 28.5
Sales on Commission 23.2 - 5.8 7.0 36.0
TOTAL 49.0 1.1 7.1 7.3 64.5
FC/Budget XXX XXX XXX XXX -
% Achieved XXX XXX XXX XXX -
FY 11-12 VTIP Sales - performance
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Customs Case Status Report
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Investigation by Directorate of Revenue
Intelligence / Customs
Scope of review
Procurement from Voith Germany at lesser price
and selling in India at higher Price.
Thereby paying less customs duty.
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Investigation by Directorate of Revenue
Intelligence / customs (Contd....)
Current status
Demand from the tax department --- MINR 41
--- TEUR 715
Accrual in the books of accounts --- MINR 35
Deposits made under protest --- MINR 5
Tax advisor- E & Y Hyderabad.
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Investigation by Directorate of Revenue
Intelligence / customs (Contd....) Current status
All imported materials from voith companies are assessed provisionally and
cleared under Bond .
Bond executed till date: Date of IssueBond Amount
MINR
09/05/2011 30
15/06/2011 5
05/08/2011 10
02/09/2011 30
05/10/2011 30
24/11/2011 30
04/04/2012 30
18/05/2012 30
Total 195
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Investigation by Directorate of Revenue
Intelligence / Customs (Contd....)
Lessons learned
Related party pricing to be at Armslength
Single price for single part or components. Differential pricing to beeliminated. Spare parts price = OEM price.
VTIP to approach SVB (special valuation bench) for fixation of
customs valuation method for related party imports at the earliest.
Immediately make action plan w.r.t Export pricing. After taking advicefrom E & Y , VTIP should approach PGs for revision in price.
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3434Board Meeting | C.J. Sriram | 2012-09-03
Investigation by Directorate of Revenue
Intelligence / Customs
15-12-2009 2 members Team visited our Factory and askedfor few related documents. Same day issued
Summons to submit trading business related
documents, agreements with Voith Germany etc.,
20-04-2010 Summoned 2 Sales Executives who are dealing
with trading business.
19-05-2010 Summoned Director Finance
25-05-2010 Summoned G. M. Marketing
28-05-2010 Paid voluntarily Investigation Deposit of 4 MINR
under protest
18-11-2010 Summoned Sr. Manager Finance.
18-01-2011 Last personnel Hearing and submitted all the
documents asked for.
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Investigation by Directorate of Revenue
Intelligence /customs (Contd....)
31-03-2011 - Receipt of show cause notice for VTIP
04-05-2011 - Receipt of 1st show cause notice for VTRI
26-05-2011 - Receipt of 2nd show cause notice for VTRI
24-05-2011 - Reply filed for VTIP- SCN
06-06-2011 - Reply filed for 1st SCN of VTRI
21-06-2011 - Reply filed for 2nd SCN of VTRI
23-07-2011 - Hearing for VTRI adjourned to 19-08-2011.
19-08-2011 - Next hearing for VTRI scheduled on 06-09-2011.
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Investigation by Directorate of Revenue
Intelligence /customs (Contd....)
Status as at July 2012.
06-09-2011 - Attended personal hearing at Mumbai-VTRI case
20-10-2011 Receipt of hearing notice for VTIP.
16-11-2011 -. Received the order from customs Mumbai for the above
case. Our above appeal was rejected.
21-11-2011 Attended personal hearing for VTIP Hyderabad.
07-08-2012- VTRI - Personal hearing at CESTAT Mumbai
Result - Bench ordered absolute stay of the differential duty, interest
and penalty demanded till the disposal of the appeal.
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3737Board Meeting | C.J. Sriram | 2012-09-03
New land acquisition forexpansion.
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New Land acquisition Status
Registration is going to be done on 5th September, 2012.
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3939Board Meeting | C.J. Sriram | 2012-09-03
Return to Shareholders September, 2012
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VTIP RETURNS TO SHAREHOLDERSStatement of Dividend distribution by VTIP to VTBG ,VTHA ,VTA & VTVA
Sl.No Business year Payment monthAmount
in TINREURO
Cumm Div
EuroEx.Rate
1 1999-00 Apr, 00 14,700 367,776 367,776 39.97Paid
2 1999-00 Jun, 00 20,300 496,614 864,389 40.88Paid
3 1999-00 Mar, 01 7,000 165,955 1,030,345 42.18Paid
4 2000-01 Oct, 01 7,000 161,851 1,192,196 43.25Paid
5 2000-01 Apr, 02 7,000 161,943 1,354,139 43.22Paid
6 2001-02 Apr, 03 14,000 266,819 1,620,959 52.47Paid
7 2002-03 May, 04 14,000 265,403 1,886,361 52.75Paid
8 2007-08 Mar, 09 28,000 406,858 2,293,219 68.82Paid
9 2008-09 Feb, 09 17,500 272,119 2,565,338 64.31Paid
10 2008-09 Feb,10 22,050 339,885 2,905,223 64.87Paid
11 2009-10 Mar, 10 25,725 405,117 3,310,340 63.50Paid
Total dividend paid till date Sep11 177,275 3,310,340 53.55
Share Capital 73,500 1,372,549
% of Dividend pay out \ Share capital 241%
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VTIP RETURNS TO SHAREHOLDERS
DIVIDEND PAY OUT
0
5,000
10,000
15,000
20,000
25,000
30,000
1999-00 1999-00 1999-00 2000-01 2000-01 2001-02 2002-03 2007-08 2008-09 2008-09 2009-10
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
Amount in TINR Cumulative in TINR
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CASH POOL SYSTEM- VTIP
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4343Board Meeting | C.J. Sriram | 2012-09-03
CASH POOL Transaction details
Oct-11 - July 12
Core Bank for Cash Pool HSBC
Started Participating from 24-12-2010
Opening bal. as on 1st Oct 11 MINR 250
Fund Invested MINR 184
Fund Withdrawal MINR 308
Interest earned MINR 8.9
Rate of interest 6.10 %
Status of Bank Accounts
All Banking Transactions moved to HSBC
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CASH POOL ACCOUNT TRANSACTIONS
(from 01-10-2012 to 31-07-2012) (INR)
Posting Date Document No. Description Receipts Payments Amount
25,00,00,000 25,00,00,000
10-10-2011 BPHSBC-12-00001 Funds transfer from HSBC CP to HSBC - CA a/c - 2,00,00,000 23,00,00,000
20-10-2011 BPHSBCC-12-00072 Funds transfer from HSBC CA to HSBC - CP a/c 4,50,00,000 - 27,50,00,000
04-11-2011 BPHSBCC-12-00146 Funds transfer from HSBC CA to HSBC - CP a/c 1,00,00,000 - 28,50,00,000
04-11-2011 BPHSBC-12-00004 Funds transfer from HSBC CP to HSBC - CA a/c - 10,00,00,000 18,50,00,000
04-11-2011 RJV-12-0053 Retification of BPHSBC-12-00004 10,00,00,000 - 28,50,00,000
16-11-2011 BPHSBC-12-00005 Funds transfer from HSBC CP to HSBC - CA a/c - 10,00,00,000 18,50,00,000
28-11-2011 BPHSBCC-12-00239 Funds transfer from HSBC CA to HSBC - CP a/c 2,00,00,000 - 20,50,00,000
29-02-2012 BPHSBC-12-00006 Funds transfer from HSBCCP to OBC - 2,00,00,000 18,50,00,000
13-03-2012 BPHSBC-12-00007 Funds transfer from HSBC CP to IB - 6,00,00,000 12,50,00,000
31-03-2012 BPHSBC-12-00008 HSBC Processing charges debited to CP a/c - 1,063 12,49,98,937
29-06-2012 BRHDFC-12-141 Tra of C.A/c transac tions credtied into Cash Pool 3,12,202 - 12,53,11,140
29-06-2012 BRHDFC-12-141 Tra of C.A/c transactions c redt ied into Cash Pool 13,74,784 - 12,66,85,924
29-06-2012 BRHDFC-12-141 Tra of C.A/c transac tions credtied into Cash Pool 1,12,406 - 12,67,98,330
29-06-2012 BRHDFC-12-141 Tra of C.A/c transactions c redt ied into Cash Pool 61,94,498 - 13,29,92,828
29-06-2012 BRHDFC-12-141 Tra of C.A/c transactions c redt ied into Cash Pool 10,78,418 - 13,40,71,246
29-06-2012 BRHDFC-12-141 Cash Pool A/c Bank charges June-12 - 4,612 13,40,66,633
30-06-2012 BRHSBC-EEFC-12-00019 VC 25/5 39,368 - 13,41,06,002
31-07-2012 BRHSBCC-12-00651 TRANSF TO - CURRENT A/C 05/7 - 39,368 13,40,66,633
31-07-2012 BRHSBCC-12-00667 Rect of BRHDFC-12-141 ( Cashpool to CA ) - 3,12,202 13,37,54,431
31-07-2012 BRHSBCC-12-00667 Rect of BRHDFC-12-141 ( Cashpool to CA ) - 13,74,784 13,23,79,647
31-07-2012 BRHSBCC-12-00667 Rect of BRHDFC-12-141 ( Cashpool to CA ) - 1,12,406 13,22,67,240
31-07-2012 BRHSBCC-12-00667 Rect of BRHDFC-12-141 ( Cashpool to CA ) - 61,94,498 12,60,72,743
31-07-2012 BRHSBCC-12-00667 Tra of C.A/c transactions credt ied into Cash Pool 77,699 - 12,61,50,442
31-07-2012 BRHSBCC-12-00669 VTBS CI-12-056 ( 371.32 * 66.2137821 ) 24,587 - 12,61,75,028
31-07-2012 RJV-12-0477 Cash Pool A/c Bank charges June-12 - 3,561 12,61,71,467
31-07-2012 RJV-12-0478 Cash Pool A/c Bank charges July-12 7,122 - 12,61,78,589
43,42,21,085 30,80,42,495 12,61,78,589
Opending Balance
Closing Balance
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Other Points
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INTERNAL AUDIT STATUS
http://localhost/var/www/apps/conversion/tmp/scratch_4/Voith%20Internal%20audit%20-FD-status%20Sep2012.xlshttp://localhost/var/www/apps/conversion/tmp/scratch_4/Voith%20Internal%20audit%20-FD-status%20Sep2012.xlshttp://localhost/var/www/apps/conversion/tmp/scratch_4/Voith%20Internal%20audit%20-FD-status%20Sep2012.xlshttp://localhost/var/www/apps/conversion/tmp/scratch_4/Voith%20Internal%20audit%20-FD-status%20Sep2012.xlshttp://localhost/var/www/apps/conversion/tmp/scratch_4/Voith%20Internal%20audit%20-FD-status%20Sep2012.xlshttp://localhost/var/www/apps/conversion/tmp/scratch_4/Voith%20Internal%20audit%20-FD-status%20Sep2012.xlshttp://localhost/var/www/apps/conversion/tmp/scratch_4/Voith%20Internal%20audit%20-FD-status%20Sep2012.xls -
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RISK MANAGEMENT STATUS
http://localhost/var/www/apps/conversion/tmp/scratch_4/Risk%20Management%20Form-Sept-12.pdfhttp://localhost/var/www/apps/conversion/tmp/scratch_4/Risk%20Management%20Form-Sept-12.pdf -
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EURO Rate Chart
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Contact:
C.J. Sriram
Director & Company Secretary
Voith Turbo Private Limited
Hyderabad, India
Tel. +91-40-2717 3561
Mobil: +919849048596
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5353
FinancialsVT India
2012-09-03
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Content
1. Key Figures
i. Overview
ii. Orders Received & Sales
iii. Profit from Operations
iv. Net Income
2. Net Working Capital
3. Cash Flow
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VT India
Overview Key Figures as at July 31, 2012.2010/11 2011/12 2011/12
VTIP Actual ActualActual in %
of forecastForecast
(in MINR) FY - end July a / b latest
a b
Orders Received 2 029 1 480 79% 1 867
Sales 1 811 1 709 80% 2 133
Profit from Operations 624 538 79% 680
Net Income 455 399 78% 511
Operating Net Cash Flow 604 378 205% 185
Free Cash Flow 322 261 623% - 42
Avg. Capital Employed 766 892 1 032
ROCE 81,5% 72,4% 65,9%
ROS on NI 25,1% 23,4% 23,9%
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VT India
MD- IND Overview Key Figures as at July 31, 2012.2010/11 2011/12 2011/12
Industry Actual ActualActual in %
of forecastForecast
(in MINR) FY - end July a / b latest
a b
Orders Received 1 882 1 241 76% 1 625
Sales 1 728 1 523 82% 1 854
Profit from Operations 634 518 81% 636
Net Income 476 390 84% 467
Operating Net Cash Flow 629 420 178% 235
Free Cash Flow 377 328 2599% 13
Avg. Capital Employed 703 790 921
ROCE 90,3% 65,6% 69,1%
ROS on NI 27,5% 25,6% 25,2%
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VT India
MD- Road Overview Key Figuresas at July 31, 2012.
2010/11 2011/12 2011/12
Road Actual ActualActual in %
of forecastForecast
(in MINR) FY - end July a / b latest
a b
Orders Received 64 48 33% 145
Sales 21 68 47% 145
Profit from Operations - 11 - 8 -79% 10
Net Income - 15 - 13 -131% 10
Operating Net Cash Flow - 29 - 28 173% - 49
Free Cash Flow - 38 - 35 148% - 52
Avg. Capital Employed 22 46 58
ROCE -48,1% -17,6% 17,6%
ROS on NI -68,4% -19,8% 7,0%
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VT India
MD- Rail Overview Key Figuresas at July 31, 2012.
2010/11 2011/12 2011/12
Rail Actual ActualActual in %
of forecastForecast
(in MINR) FY - end July a / b latest
a b
Orders Received 60 132 284% 47
Sales 42 77 164% 47
Profit from Operations - 7 21 908% 2
Net Income - 11 17 718% 2
Operating Net Cash Flow 6 - 1 195% - 15
Free Cash Flow - 8 - 7 172% - 16
Avg. Capital Employed 35 41 39
ROCE -19,0% 52,7% 6,0%
ROS on NI -26,7% 21,8% 5,0%
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VT India
MD- Marine Overview Key Figuresas at July 31, 2012.
2010/11 2011/12 2011/12
Marine Actual ActualActual in %
of forecastForecast
(in MINR) FY - end July a / b latest
a b
Orders Received 14 53 111% 48
Sales 16 17 36% 48
Profit from Operations 4 11 37% 29
Net Income 2 9 32% 29
Operating Net Cash Flow - 2 4 24% 18
Free Cash Flow - 9 3 18% 18
Avg. Capital Employed 2 5 6
ROCE 251,8% 222,4% 505,2%
ROS on NI 14,6% 54,3% 60,4%
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Content
1. Key Figures
i. Overview
ii. Orders Received & Salesiii. Profit from Operations
iv. Net Income
2. Net Working Capital3. Cash Flow
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VT India
OR development 2011/12M INR
Year forecast Ytd actual Monthly actual
78247
115221
130259
107 93 156 73
325440
661792
1 0511 158
1 2511 406
1 480
1 867
2 070
1 867 1 867
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FF 1QF 2QF 3QF FA
79% of
ytd FC
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VT India
Orders ReceivedM INR
1 636
2 0291 867
2 127
2009/10 2010/11 2011/12Forecast
2012/13Forecast
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VT India
Sales development 2011/12M INR
Year forecast Ytd actual Monthly actual
89 154162 199 187
294140 122 178 185
243405
604
791
1 0841 225
1 346
1 524
1 709
2 096 2 096 2 133 2 133
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FF 1QF 2QF 3QF FA
80% of
ytd FC
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VT India
SalesM INR
1 255
1 811
2 133 2 132
2009/10 2010/11 2011/12Forecast
2012/13Forecast
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Content
1. Key Figures
i. Overview
ii. Orders Received & Salesiii. Profit from Operations
iv. Net Income
2. Net Working Capital3. Cash Flow
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VT India
Monthly PfO 2011/12M INR
49
95
79
-12
46
96
3828
58 6371
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep RunRate toreachlatest
Forecast
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VT India
PfO development 2011/12M INR
PfO ytd Return on Sales %
49
144
223 210
256
352
390418
476
538
44.9%
33.6%
19.8%
69.1%
62.6%
51.8%48.7%
43.6%
67.1%61.5%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
Oct Nov 1QA Jan Feb 2QA Apr May 3QA Jul Aug Sep
79% of
ytd FC
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VT India
Profit from Operations & Return on Sales
413
624
680
614
29.6% 32.9% 31.9%
28.8%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2009/10 2010/11 2011/12Forecast
2012/13Forecast
M INR
PfO RoS
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Content
1. Key Figures
i. Overview
ii. Orders Received & Salesiii. Profit from Operations
iv. Net Income
2. Net Working Capital3. Cash Flow
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VT India
Net Income development 2011/12
M INR
78% ofytd FC
51
113
179
158
209
266291
307
349
399
Oct Nov 1QA Jan Feb 2QA Apr May 3QA Jul Aug Sep
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VT India
Net Income
M INR
298
455511
420
2009/10 2010/11 2011/12Forecast
2012/13Forecast
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Content
1. Key Figures
i. Overview
ii. Orders Received & Salesiii. Profit from Operations
iv. Net Income
2. Net Working Capital3. Cash Flow
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VT India
Net Working Capital
468528
558
732
37.3%
29.1% 26.2%34.3%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
0
100
200
300
400
500
600
700
800
900
1,000
2009/10 2010/11 2011/12Forecast
2012/13Forecast
M INR
NWC NWC in % of Sales
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VT India
Net Working Capital
M INR
NWC Trend
301333
468
528558
732
2007/08 2008/09 2009/10 2010/11 2011/12Forecast
2012/13Forecast
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VT India
NWC Split-up
M INR
175349 353 340
398
453 438 48530
29 17 17
468528 558
732
60
8498
34
62 30
30
48
55 60
73
6
102 62
2
2009/10 2010/11 2011/12Forecast
2012/13Forecast
Inventories Trade rec. Other/deffered assets (non-int. bearing)
NWC Other deffered liabilities (non-int. bearing) Adv. pymts. rec.
Trade payables Trade rec./pay. aff.comp. (net)
9
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Content
1. Key Figures
i. Overview
ii. Orders Received & Salesiii. Profit from Operations
iv. Net Income
2. Net Working Capital3. Cash Flow
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VT India
CF development 2011/12
M INR
680 731
185
41 9 31
515
52 55
183
-42Pfo bef.
op. int. inc.Deprecation Accruals &
other non-cash items
Gross CF NWC CAPEX ONCF FinancialResult/Interest
Financialassets
Taxes FCF
40 3
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VT India
CF development 2012/13
M INR
614672
465
231
59 1
172
35 8 34
191
Pfo bef.op. int. inc.
Deprecation Accruals &other non-cash items
Gross CF NWC CAPEX ONCF FinancialResult/Interest
Financialassets
Taxes FCF
40 3
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VT India
CF development 2013/14
M INR
584639
549
367
561 30
60 69 53
197
Pfo bef.op. int. inc.
Deprecation Accruals &other non-cash items
Gross CF NWC CAPEX ONCF FinancialResult/Interest
Financialassets
Taxes FCF
40 3
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VOITH Corporate Planning - Orders
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VOITH Corporate Planning - Orders
1054
1636
2029
1480
1867
22052338
1048
1255
1811
1709
21332218
2410
0
500
1000
1500
2000
2500
3000
08/09 Actual 09/10 Actual 10/11 Actual 11/12 Adv.Act.
11/12 F05(Q2)
12/13 Plan inp.13/14 Plan inp.
OrderEn
try/SalesinM
io.
OR incl lic./comm. Sales
VOITH Corporate Planning Resources
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VOITH Corporate Planning - Resources
107 102 113120 111 122
130
121 118124
134 146159
161
228.0 220.0237.0
254.0 257.0
281.0291.0
0.0
50.0
100.0
150.0
200.0
250.0
300.0
350.0
0.0
50.0
100.0
150.0
200.0
250.0
300.0
350.0
08/09Actual
09/10Actual
10/11Actual
11/12 Adv.Act.
11/12 F05(Q2)
12/13 Planinp.
13/14 Planinp.
Industrial employees Salaried employees Employees
VOITH Corporate Planning Income Statement
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296.1
413.0
623.9
537.8
679.9626.1
583.7
28.0% 29.6%
32.9%
31.1%31.9%
28.2%24.2%
0.0%
10.0%
20.0%
30.0%
0
100
200
300
400
500
600
700
800
08/09 Actual 09/10 Actual 10/11 Actual 11/12 Adv.Act.
11/12 F05(Q2)
12/13 Planinp.
13/14 Planinp.
RoS(%)
Sales&PfO(M
io.)
Profit from operations ROS
VOITH Corporate Planning Calculation ROCE
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513.3 681.1
780.6865.8
1285.3 1389.9 1423.5
-500.0
0.0
500.0
1000.0
1500.0
2000.0
08/09 Actual 09/10 Actual 10/11 Actual 11/12 Adv. Act. 11/12 F05 (Q2) 12/13 Plan inp. 13/14 Plan inp.
Intang ass/tang ass Inventories (+) He u adv paym rec (+)
Trade rec to 3rd party (+) Trade receivables from affil. comp. cons. (+) Other assets (+)
Prepaid exp (+) Trade payables (-) Trade payables to affil. comp. cons. (-)
overdue trade pay ACC (+) Other liabil (-) CE*
VOITH Corporate Planning Calculation ROCE
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513.3
681.1780.6
865.8
1285.31389.9
1423.5
296.1
413.0
623.9537.8
679.4625.0
583.7
64.0%68.8%
81.5%
60.3%
65.9%
46.8%41.5%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
0.0
200.0
400.0
600.0
800.0
1000.0
1200.0
1400.0
1600.0
08/09 Actual 09/10 Actual 10/11 Actual 11/12 Adv. Act. 11/12 F05 (Q2) 12/13 Plan inp. 13/14 Plan inp.