CG announces Q1 FY 14 results – strong sales and recovery of international operations

 

Avantha Group Company CG today announced its financial results for the first quarter ended June 30, 2013.

Performance Highlights‐ Q1 FY 2014

•    Q1 FY14 – received orders worth Rs. 2441 crores

•    Backlog orders at a record high – Rs. 9771 crores

•    Q1 FY14 Revenues up by 12.3% over Q1 FY13 – Rs. 3157 crores

•    EBITDA  at 4.6% doubles over Q4 FY13

•    PAT Rs. 60 crores for Q1 FY14 vs Rs. 25 crores in Q4 FY13

Highlights of Q1 FY 2014

•    Power business back to profitability reflecting improvement in performance in Belgium and Hungary.

•    Restructuring operations in Belgium completed and savings realized

•    Bagged contract from Power Grid Corporation of India (PGCIL) for 765 kV Power transformer valued at Rs 231.7 crore

•    Sustained orders from Railway segment in India received orders worth Rs. 176 crores

•    Successful exports of energy efficient motors from India

CEO and Managing Director, Laurent Demortier of Avantha Group Company CG said “Q1

FY14 has been an encouraging quarter for CG, despite a challenging market environment. The strategic alignment in our POWER Transmission business in Belgium and Hungary has started to take shape and is on the path to recovery.  The overall savings program across businesses and regions is on track. The performance of all our businesses in India, have shown significant improvement”.

 

 

Why Avantha?

The US$ 4 bn Avantha Group is one of India’s leading business conglomerates. The Group has business interests in diverse areas, including pulp and paper, power transmission and distribution equipment and services, food processing, farm forestry, chemicals, energy and infrastructure, IT and ITeS. With an impressive global footprint that spans Asia, Europe and North America, Avantha operates in more than 10 countries, employing 20,000 people of over 20 nationalities. Avantha is known for its positive work culture that rewards innovation, breeds initiative and encourages intelligent risk-taking. In recent years, Avantha has evolved into a dynamic and knowledge-driven organisation that inspires employees to collaborate and draw from a common knowledge pool, while helping the organisation leverage diverse intellectual insights. Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors. A global employer of choice, Avantha offers excellent opportunities for growth and self-development.

King’s College London confers Honorary Fellowship on Gautam Thapar

    



London,23July2013: Avantha Group’s Founder and Chairman Mr Gautam Thapar received an Honorary Fellowship of King’s College London (Hon FKC) in recognition of his‘exceptional achievements in the fields of industry and philanthropy.

Founded by King George IV and the Duke of Wellington in 1829, King's College London is one of England’s oldest and most prestigious universities: a multi-faculty research-led institution based in the heart of London. The proposal to establish a fellowship of King’s was first considered by the Council of King’s in 1847. Nobel Prize-winners Archbishop Desmond Tutu and Professor Maurice Wilkins, and composer Sir Harrison Birtwistle among others have set up a precedent for the range of distinctions in fellowship.

Gautam Thapar is the Founder and Chairman of Avantha Group, one of India’s leading business conglomerates. His extensive philanthropic record reflects his sense of duty and service,and includes his endowment of the Avantha Chair in the King’s India Institute.

On congratulating Mr Thapar, Professor Sunil Khilnani, Avantha Chair and Director of King’s India Institute,said: Gautam Thapar is exceptional among corporate leaders in embodying a vision that is at once national and global: as leader of the Avantha Group, and in his various philanthropic activities in India and abroad, he has shown commitment to building long term and globally sustainable conditions for India’s
progress and development.

It’s an honour for King’s College London and for King’s India Institute to be associated with him: we too share his vision of contributing to India’s overall advance in a irreversibly globalized world.

‘In awarding Gautam Thapar an Honorary Fellowship, King’s College London welcomes him into the community of its most distinguished members: a Fellowship that includes Nobel prize winners as well as pioneers in the sciences, arts and business. We look forward to his continuing engagement with King’s, and I am personally delighted that he is now Fellow of King’s.