Motilal Oswal - MOSL: INDIA ELECTRICALS-Energy Efficiency Services Limited (EESL) order tracker

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Motilal Oswal

MOSL: INDIA ELECTRICALS-Energy Efficiency Services Limited (EESL) order tracker

INDIA ELECTRICALS: Energy Efficiency Services Limited (EESL) order tracker; Focus shifts from lighting to solar panels, smart meters and electric vehicles

Product portfolio expansion, with focus shifting from traditional products to new products
EESL’s awarding for FY18 (INR53.2b) more than doubled (+128% YoY), with meaningful portfolio expansion. Key segments driving the awarding activity for FY18 were electric vehicles (21.4% of awards), smart meters (19.1%), street lights (18.0%), solar PV modules (10.9%), and room air conditioners (8.3%). Traditional products (barring street lights), which dominated ordering in FY17, now constitute a very small portion of the overall ordering. Lamps account for 4.6% of the overall ordering as against 24% in FY17. EESL has now completely exited the pumps segment, which formed 22% of the ordering in FY17.

Electric vehicles dominate ordering mix
The government has ambitious plans to shift towards electric vehicles by 2030. EESL placed its first electric vehicle order in FY18 for INR11.4b (21.4% of the overall ordering) to supply 10,000 electric vehicles, pricing the product at INR1.1m. Tata and Mahindra were the chosen vendors for the same. EESL plans to float an incremental 10,000-unit tender in the near future.

L&T bags 5m smart meter tender for INR10.2b
EESL has awarded the smart meter order to L&T to supply 5m meters having a value of INR10.2b (19.1% of the overall awarding). The meters procured will be utilized for implementation of smart grid projects in Haryana and Uttar Pradesh.

23/05/2018 4 EN

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Motilal Oswal

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MOSL: INDIA ELECTRICALS-Energy Efficiency Services Limited (EESL) order tracker

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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