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HCC Group
Source Name: HCC Group

HCC Net Profit at Rs 81.6 Crore in FY14-15

Apr 30, 2015   17:30 IST 
New Delhi, Delhi, India

-EBIDTA grows 20.8% from Rs 640.7 crore to Rs 773.7 crore

-9.5 lakh tourists visit Lavasa during the year

 

For the FY14-15, HCC has registered a Net Profit of Rs 81.6 crore, compared to Rs 80.6 crore last year. The Operating Profits grew by 20.8% (Rs 773.7crore in FY14-15 vs Rs 640.7 crore FY 13-14). The turnover grew by 4.6% at Rs 4,301.1 crore compared to Rs 4,113 crore, in the previous year.

 

Financial highlights - HCC audited standalone results

 

For the year ended March 31, 2015

–         Net Profit of Rs 81.6 crore compared to Rs 80.6 crore

–         Profit Before Tax of Rs 127.3 crore compared to Rs 90.9 crore

–         Operating Profit up by 20.8% at Rs 773.7 crore compared to Rs 640.7 crore

–         Turnover up by 4.6% at Rs 4,301.1 crore against Rs 4,113.5 crore last year

–         Current order book at Rs 14,451 crore, excluding L1 contracts worth Rs 3,435 crore

 

For the quarter ended March 31, 2015

–         Operating Profit up by 12.5% at Rs 192.2 crore compared to Rs 170.9 crore

–         EBIDTA margins at 17.2% compared to 14.8% in the fourth quarter last year

–         Turnover at Rs 1,175.1 crore compared to Rs 1,184.8 crore in the corresponding quarter last year

 

During FY 2014-15, the company secured nine new orders worth Rs 2,463 crore and is the lowest bidder in projects worth Rs 3,435 crore. The overall operational efficiency and reduction in fixed costs resulted in improved EBITDA margins. Additionally, Rs 2,220 crore worth of claims which have already been awarded in its favour through arbitrations, are being aggressively pursued for early collection.

 

Commenting on the company’s performance, Ajit Gulabchand, Chairman and Managing Director said, “This is a trying period for Indian infrastructure sector, as the government has a huge task at hand to clear stalled projects and removing bottlenecks, which will take some time. In such a backdrop, our focus will remain on improving the operational efficiency and recovery of our claims. HCC will continue to focus on exiting non-core businesses and operating assets along with realising claims to further improve all our financial parameters in the coming year.”

 

In the first week of April 2015 HCC raised Rs 400 crore equity through the QIP route. The issue was oversubscribed within few hours of opening.

 

Recognitions and Awards:

  • Construction Week Awards 2014

 

–      “Road & Highways Project of the Year” – Mughal Road project

–      “Water Project of the Year” – Maroshi Ruparel Water Tunnel project

–      Runners-up award for “Road Contractor of the Year”

 

  • Zee Business India’s Best Market Analyst award

 

–      Infrastructure Project of the Year – Pir Panjal Railway Tunnel project

 

  • EPC World Awards

 

–      “Outstanding Contribution in Urban Infrastructure” – Maroshi Ruparel Water Tunnel project

 

–      “Outstanding Contribution in Railway Project” – Pir Panjal Railway Tunnel project

 

  • CIDC Vishwakarma Achievement Award 2015

 

–      “Best Construction Project” in Highways Category  - Mughal Road Project project

 

Performance of HCC subsidiaries:

Steiner AG: In FY2014-15, Steiner AG has registered a revenue of CHF 853.9 million (Rs 5604.2 crore) compared to CHF 796.7 million (Rs 5,228.7 crore) in the previous year. The net profit stood at CHF 1.7 million (Rs 11.2 crore) compared to CHF 8.15 million (Rs 53.4 crore). The company secured fresh orders worth CHF 796 million (Rs 5,106 crore). The order backlog was CHF 1.12 billion (Rs 7,195 crore) at the end of the year. In addition to this, the company has secured orders for more than CHF 192 million (Rs 1,232 crore), where the contracts are yet to be signed. The closing cash balance of the company was CHF 103 million (Rs 658.5 crore) reflecting company’s steady financial performance and strong liquidity position.

 

Lavasa Corporation Limited (LCL): Lavasa city continues to be a popular tourist destination and witnessed a 26% increase in tourist footfalls at 950,000 visitors in the year under review. To cater to the increasing tourist inflows, additional retail outlets, such as Fun Square Movie Theatre, restaurant by J Vora Hospitality, a 20000 sq ft bakery by SOSFIPL, a retail store by MAPRO and Venky’s, among others, have also opened up. Additionally, unique attractions such as Segway and the first of its kind Jetovater, a thrilling water sport, have also been introduced this year. Lavasa’s serene and contemporary locales have made it a preferred destination for advertisement and movie shoots. LCL has registered a turnover of Rs 262 crore with a loss of Rs 36.9 crore. So far, over 810 residential units have been completed. The construction work is slowly progressing in Dasve and in the second town of Mugaon. Lavasa also received the coveted “India’s Smart City in Tourism” award and “Best Eco-Tourism” & “Best Convention Centre Western India” at the ITB-PATWA and “The Best Tourist Attraction” Destination in West India”, by leading trade publication, TRAV Talk.

 

HCC Infrastructure Co Limited: HCC Concessions, the subsidiary of HCC Infrastructure handling highway concessions, signed definitive documents to sell its stake in Nirmal BOT Ltd for Rs 64 crore.  In the first quarter of FY15-16, the company has also signed definitive documents to sell its 60% economic stake in Dhule Palesner Tollway Ltd to the Sadbhav Group for Rs 204 crore. HCC Concessions also expects to realize an estimated amount of Rs 24 crore from additional claims to be made to the NHAI, towards the Dhule Palesner highway project. The company has attained average daily toll collection of Rs 33 lakh in the last quarter for its Baharampore-Farakka highway, and expects its largest section of NH34 between Farakka and Raiganj to be operational later this year.

 

About HCC:

HCC is a business group of global scale developing and building responsible infrastructure through next practices. With an engineering heritage of nearly 100 years, HCC has executed a majority of India's landmark infrastructure projects, having constructed 26% of India's Hydel Power generation and over 65% of India's Nuclear Power generation capacities, over 3,600 lane km of Expressways and Highways, more than 300 km of complex Tunneling and over 350 Bridges. Today, HCC Ltd. serves the infrastructure sectors of Transportation, Power and Water. HCC is also developing Lavasa City, a planned hill city and one of India’s largest urban development and management initiatives. The HCC Group, with a group turnover of Rs 10,353 crore, comprises of HCC Ltd, HCC Infrastructure Co. Ltd, Lavasa Corporation Ltd and Steiner AG in Switzerland.


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Sandeep Sawant
Hindustan Construction Company Ltd
+91 22 25751000 / 98339 92874
 
 
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