Hindustan Dorr Oliver Ltd

Corporate Presentation
Contents
1. Executive Summary
2. Organization Overview 
2A. Design Engineering Division
2B. Manufacturing Division
2C. Turnkey EPC Division

3. Indian Market Overview

4. Future Strategy

5. Win‐Win Partnership

1
1.  Executive Summary
 Executive Summary (1/2)
 Hindustan Dorr Oliver Limited (HDO) is one of the most preferred EPC companies in India in Mineral
beneficiation, Chemical and Fertilizers, Water & Waste Water management, Nuclear Power and Pulp & Paper
industries.
 HDO has strong capabilities across design engineering, process equipment manufacturing and execution of
turnkey EPC projects.
 Approved by most of the leading global project management consultants including UDHE, TOYO, LINDE, EIL,
JACOBS, PDIL, Samsung, Technimont ICB, etc.
 Successfully executed several prestigious projects for clients such as IOCL, ONGC, BPCL‐Kochi, BPCL‐Mahul,
BINA, HPCL, GAIL, GNFC, RCF, GSFC, IFFCO, PPL, Haldia Petrochemicals, HPCL Mittal Energy, Vedanta
Resources, NALCO, NMDC, SAIL, NPCIL, etc.
At a glance
 Manufactures heavy and complex engineering components such as pressure vessels, heat exchangers etc. for
various industry segments, and other proprietary equipment for its own turnkey EPC projects.
 Current order book stands at INR 9,000 mn (USD 150 mn). Of this orders of INR 7,500 mn (USD 125 mn) are
held by the EPC Group and the balance INR 1,500 mn (USD 25 mn) by the Manufacturing division.
 In the past acquired a UK‐based engineering firm having expertise in design, manufacturing and fabrication of
heavy and complex engineering components and assemblies.
 HDO is part of a large business conglomerate which is currently under stress, due to the slowdown of the
Indian economy during 2012‐2014.
 HDO is listed on National Stock Exchange of India and Bombay Stock Exchange. The Promoter Group holds
55% equity stake and the balance is with the general public.

 HDO has pan India presence with offices in major cities such Mumbai, Chennai, Kolkata, Delhi and
Ahmedabad supported by 850+ employees.
Infrastructure
 Manufacturing facility in Ahmedabad spread across 16 acres, with built up area of 160,000 sq. ft. The facility
is among the top five leading engineering manufacturing facilities in the country.

Strictly Private & Confidential 3
 Executive Summary (2/2)
 Company’s Debt was restructured in 2013. The cash flow mis‐match, however, continues and the company is
still facing some financial stress as the Debt/Equity structure is skewed. In order to be back on a growth
trajectory HDO has now chalked out a revival plan with clear cut strategies.
Future   HDO has recently bid for several projects and is expected to win projects of around INR 6,000 mn (USD 100
Strategy mn) shortly.
 HDO would now like to partner with a global strategic player who can leverage on the company’s Brand and
diversified capabilities in Design, Engineering and Execution, to scale up operations and become a world
player of quality and substance.

(USD mn) FY09 FY10 FY11 FY12 FY13 FY14 FY15 E FY16 E FY17 E
Financial
Revenue 87  145  160  142  55  54  114  184  229 
Snapshot ‐
Consolidated EBITDA 10  18  18  1  (19) (7) 6  21  27 
EBITDA % 11% 12% 11% 1% (34%) (13%) 5% 11% 12%

Investment   Promoter group intends to exit as HDO’s business is not part of the Group’s core activity.
Opportunity  The investor can have a clear majority stake in HDO.

USD = INR 60
Strictly Private & Confidential 4
2.  Organization Overview
 Overview
 Incorporated in 1974, Hindustan Dorr Oliver Ltd (HDO) was acquired by IVRCL Group in
2005.
 Over the last few years, HDO has transformed itself from a reputed equipment
manufacturer to a leading provider of Engineering focused turnkey EPC projects and
solutions
 Recognized as a global engineering company, HDO undertakes complete spectrum of
activities from feasibility study, design and planning of the project to its execution.

 HDO has been able to provide its clients the best and most cost effective integrated solutions due to is in‐house Engineering &
Manufacturing capability
 It operates through three business divisions – Design Engineering, Manufacturing and Turnkey EPC Project divisions. The first two
activities are carried out by HDO’s wholly owned subsidiary ‐ HDO Technologies Private Limited
 It has a pan India presence, with offices in every major city in India ‐ Mumbai, Bangalore, Chennai, Kolkata, Delhi and
Ahmedabad.
 It has a talented workforce of about 850 people of which more than 80% are engineers or hold an equivalent degree
 The manufacturing facility at Ahmedabad follows international codes and standards and employs world reputed third party
inspection agency
 Company has obtained international certifications for Quality, Safety and Environment Management Systems.
 HDO works as “Engineering for Sustainable Growth of the Global Community” and is committed towards contributing positively
to the society at large.

Strictly Private & Confidential 6
 Business Segments

HDO Technologies Private Limited (100% subsidiary of HDO) Hindustan Dorr Oliver Limited

Design Engineering Manufacturing Turnkey EPC

C o n c e p t   t o    C o m m i s s i o n i n g 

Project  Engineering  Shop  Site  Recondition After 

Fabrication Machining
Management Design Assembly Installation ing Sales

Strictly Private & Confidential 7
2A.  Design Engineering Division
 Design Engineering ‐ Overview Design Eng. Manufacturing Turnkey EPC

Design Engineers Team Size

• HDO has over 60 years of top notch engineering expertise.
Location Design Engineers
• It has a multi discipline engineering team with expertise in critical
industrial sectors like minerals, water, chemicals, Petrochemicals, Mumbai 70
fertilizers, oil & gas . Ahmedabad 30
• The engineering services are offered through HDO Technologies Chennai 20
Limited, the wholly owned subsidiary of HDO
TOTAL 120
• The project designing is done on softwares such as as Bentley
Autoplant, Solid Works, Staad Pro, Autocad Inventor, PV Elite,
Annual Engineering Capacity  
Microprotol, Autocad Mechanical, HTRI etc.
250,000 ‐ 300,000  Man Hours 

Design Engineers – Experience wise

Less than 5 
Over 15 years
years

18% 17%

30% 35%
10 – 15 years 

5 – 10 years

Strictly Private & Confidential 9
 Engineering Capabilities Design Eng. Manufacturing Turnkey EPC

Industry Focus

Basic 
Engineering • Mineral Beneficiation 
(Alumina, Uranium, and other Minerals)
• Environmental 
Process  Extended  (RWTP, ETP, STP, RO, DM, UF)
Engineering Engineering
• Fertilizers & Chemicals
• Oil and Gas 
(Heat Exchangers and Pressure Vessels)
• Power
(Balance of Plant)
HDO • Pulp and Paper
Piping  Mechanical  • Material Handling
Engineering Engineering
Other Engineering Services

• Feasibility Study & DPR / DTR
• Technology Evaluation
Civil &  • Plant Layout
Electrical 
Structural 
Engineering
• FEL / CAC reports
Engineering • Hazop study
• Project management and scheduling
• Relocation of plants worldwide
Strictly Private & Confidential 10
 Select Completed Projects (1/2)  Design Eng. Manufacturing Turnkey EPC

Order Value  Completion 
Name of Client  Design Engineering Details
(USD mn) Date
HDO In‐house Project : Uranium
Basic design and Detail Engineering for 3000 TPD Uranium Ore Processing
Corporation of India, Kadappa, 2.25 Dec 2009
Plant
Andhra Pradesh
Minerals & Metals

HDO In‐house Project : Vedanta Basic design and Detail Engineering for 3.0 MTPA Alumina Refinery
1.8 July 2009
Aluminium Ltd , Lanjigarh, Orissa Project.

HDO In‐house Project : NMDC Basic design and Detail Engineering for 1.8 MTPA Iron Ore Beneficiation
1.0 Mar 2010
Ltd., Donimalai, Karnataka Plant.

Gold and Mineral LLC, Saudi Extended Basic Engineering Design and Budget Estimate for 1.5 Million
0.1 Feb 2014
Arabia TPA Gold Processing plant.

HDO In‐house Project :

Rashtriya Chemical & Fertilizer, Basic design and Detail Engineering for 900 MTPD ANP Granulation Plant 0.6 Dec 2008
Mumbai, Maharashtra
Fertilizers &
Chemicals

Green star Fertilizer Ltd.,  Extended Basic design and Detail Engineering for Revamping of Phosphoric
0.5 Oct 2013
Chennai Acid Plant.

Paradeep Phosphate Ltd., Orissa Extended Basic design and Detail Engineering for Gypsum Pond ‐ II 0.12 Apr 2014

USD = INR 60

Strictly Private & Confidential 11
 Select Completed Projects (2/2)  Design Eng. Manufacturing Turnkey EPC

Order Value  Completion 
Name of Client  Design Engineering Details
(USD mn) Date

HDO In‐house Project :HPCL Basic design and Detail Engineering for 130 MLD Raw water Treatment
Mittal Energy Ltd., Bhatinda , plant, 12 MLD Effluent treatment Plant, 20.4 MLD RO‐DM and 3.6 MLD 2.4 Nov 2009
Punjab Condensate Polishing unit
Wa t e r & Wa s t e Wa t e r Tr e a t m e n t

HDO In‐house Project :Indian Oil

Basic design and Detail Engineering for 1540 M3/hr Demineralization Plant
Corporation Ltd., Paradeep, 1.1 Mar 2013
and 1100 M3/hr Condensate Polishing Unit.
Orissa

HDO In‐house Project :ONGC‐

Basic design and Detail Engineering for 150 m3/Hr Oily Effluent, 1150 M3/hr
Petro Additions Ltd, Dahej, 0.9 Aug 2010
RO Based tertiary plant and RO based DM Plant of 160 m3/hr.
Gujarat.

HDO In‐house Project :

Hindustan Petroleum Basic design and Detail Engineering for 8 MLD Integrated Effluent
0.6 Nov 2008
Corporation Ltd., Mumbai, Treatment plant .
Maharashtra

HDO Project :CIDCO, Navi

Basic design and Detail Engineering for 25 MLD Sewage Treatment plant 0.4 Dec 2007
Mumbai, Maharashtra

USD = INR 60

Strictly Private & Confidential 12
2B.  Manufacturing Division
 Manufacturing ‐ Overview Design Eng. Manufacturing Turnkey EPC

 HDO is one of the reputed manufacturers for fabricated

process plant equipment, specifically for Oil and Gas,
Fertilizer, Refinery, Petrochemical sector & Power Industry
 The manufacturing activity is carried out under HDO
Technologies Ltd, a wholly owned subsidiary of HDO
 The manufacturing plant is located in western part of India at
GIDC, Vatva in Ahmedabad, Gujarat
 The facility is among the top five leading engineering
manufacturing facilities in the country.
 The plant primarily manufactures pressure vessels, heat
exchangers and other proprietary equipment for HDO’s
captive consumption as well as sales to third party
Codes & Standards Followed
 HDO is recognized amongst the top ten manufacturers of
pressure vessels and Heat Exchangers in India
• American Society Mechanical Engineers
 On an average one fourth of total production goes for captive • American Society of Testing Materials
EPC consumption and balance three fourth is supplied to • Tubular Exchanger Manufacturers Association (TEMA)
clients directly. • American National Standard Institute (ANSI)
• American Welding Standard (AWS) 
 HDO is approved with major operating consultant/PMC/EPC in
• Indian Standard (IS) Indian Boiler Regulations (IBR)
India i.e. EIL, UHDE, TOYO, Jacobs, Samsung, Technip, SNC
• PD 5500 SMPV RULES (For Explosive Applications)
Lavalin, Lurgi, Bechtel, Foster Wheeler, PDIL, Technimont etc.
• GAS CYLINDER RULES (For Explosive Application)

Strictly Private & Confidential 14
 Product Range Design Eng. Manufacturing Turnkey EPC

• Conventional • Clarifiers • Pulper • Heat Exchangers – • Granulator

Thickners • Aqua Seperator all types • Pulverizer
• Thickners
• Hi-Rate Thickners • DSM Screens • Pressure Vessels • Dryers
• Digesters
• Super Thickners • Continuous Digester • Tank Spheres • Coolers
• Detritors
• Clarifiers • Brown Stock Washer • Reactors • Scrubbers
• Trickling Filter
• Belt / Pan Filters Distributor • Bleach Washer • Columns • Rapidorr Clarifier
• Kelly Filters • Clariflocculator • Shredder Repulper • Storage Tanks • OC Filter
• Red Mud Filters • Pretreator • Recausticizing • Desalters • Brine Clarifiers and
• Drum Filters • Surface Aerators System • Indirect Fired Heaters Filters
• Disc Filters • Monorake • Classifiers • Air Cooled • Jet and Mono Sizer
• Clarifiers Condensers
• Autoclaves • Multimedia Filters
• Evaporators
• Screw Classifiers • Completreator
• Flotation Cells

Mineral  Pulp and  Hydro‐Carbon  Fertilizers & 

Environment
Beneficiation Paper Sector Chemicals

Strictly Private & Confidential 15
 Infrastructure Design Eng. Manufacturing Turnkey EPC

 HDO has established state of the art manufacturing facility spread across 16 Key Facilities 
acres, with built up area of 160,000 sq. ft. for manufacturing heavy and
complex engineering components and equipments for various industry  Clean room facility 
segments.  Heat treatment facility
 The facility is accredited with U‐stamp certification from ASME (USA) and  X ray Room
National Board of Boiler & Pressure Vessel Inspectors (USA) and ISO  Automated painting shop
9001:2008 certification  400 tonnes of cranes capacity in a Bay
 State of Art Equipments at site
 The facility is capable to manufacture & fabricate equipment up to 350 tons • Plate sheering machine
• Submerged Arc welding machine
Vatva, Ahmedabad (Gujarat) • CNC Plasma Cutting machine
Ahmedabad
• CNC Tube sheet drilling machine 
• Tube Expansion machine
• 5 parallel bays 60 x 300 ft
• Crane facility of 50 + 50 and 20 + 20 
MT

Gujarat

Strictly Private & Confidential 16
 Certifications & Approvals Design Eng. Manufacturing Turnkey EPC

Strictly Private & Confidential 17
 List of Major Completed Orders (1/2) Design Eng. Manufacturing Turnkey EPC

Weight Delivery 
Name of Client  Equipment Name
(MT) Span
Oil & Natural Gas Corp Ltd LPG Dryer 111 12 months
HPCL‐Mittal Energy Ltd Water Seal Drum 229 18 months
HPCL‐Mittal Energy Ltd Spent Cyclist Hoppers 220 18 months
Bharat Oman Refineries Limited HP Air Receiver 140 12 months
Reliance Industries Ltd Reaction Blow Down Drum 20 9 months
Reliance Industries Ltd BRF Absorber Column + Deflouridation Column 83 12 months
Reliance Industries Ltd Cladded Stripper vessels  110 9 months
Oil & Gas

EIL – GAIL (India) Ltd Drier Feed Chiller 49 14 months

EIL – GAIL (India) Ltd Acetylene Reactor Feed 42 14 months
EIL – GAIL (India) Ltd Lean/Rich Amine Exchanger 140 14 months
EIL – GAIL (India) Ltd Quench Water Column 180 14 months 
EIL ‐ GAIL (India) Ltd C3 Splitter Condenser 46 11 months
EIL ‐ GAIL (India) Ltd Propylene Refrigerant 37 12 months
EIL ‐ Gail (India) Ltd C2 / C3 Column Condenser 70 14 months
EIL ‐ Gail (India) Ltd Demethaniser column condenser 50 12 months
EIL ‐ Gail (India) Ltd C2 Splitter Reflux Drum 50 13 months
HPCL DAO product cooler, DAO mix exchanger ‐‐ 6 months
USD = INR 60
Strictly Private & Confidential 18
 List of Major Completed Orders (2/2) Design Eng. Manufacturing Turnkey EPC

Weight Delivery 
Name of Client  Equipment Name
(MT) Span
Nuclear Power Corp of India Ltd ECCS Light water Accumulator 89 24 months
Mineral

Uranium Corporation of India Ltd Pressure Leach Autoclave 350 24 months

Anrak Aluminium Ltd Settler & Washers 30 12 months

Rashtriya Chemical & Fertilizers Tail Gas Preheater 25 8 months

Fertilizers

Rashtriya Chemical & Fertilizers Process Condensate Stripper 58 12 months

National Fertilizers Limited Co2 Booster Compressor ‐‐ 8 months

Brahmaputra Crackers & Polymer Ltd Cold Blowdown Cum Methanol Vaporiser 58 9 months

Brahmaputra Crackers & Polymer Ltd Tertiary Refrigerant Condenser 102 11 months

Tecnimont ICB Purge Column 120 12 months

General Engineering

Tecnimont ICB Reactor Gas Cyclone  53 11 months

Tecnimont ICB CO2 Absorber 120 12 months

Alaqua Inc, USA Falling Film Evaporator  36 8 months

Kirloskar Pneumatic Co. Ltd. Chiller, Condenser, Economiser, Lube Oil Cooler ‐‐ 7 months

Stripper Reboiler, LPB Col condenser, LPG Col 
Larsen & Tourbo Ltd ‐‐ 7 months
Reboiler, NGL Cooler, LPG Cooler

USD = INR 60
Strictly Private & Confidential 19
 Select Prestigious Orders (1/3) Design Eng. Manufacturing Turnkey EPC

Equipment  : Pressure Leach Autoclave (2 nos)
Design Pressure :   12.33 Kg/cm2 
Design Temp :   140 degree Celsius
Shell Dia.  :   5262 mm
Length :   36123 mm
Shell Thickness :   50 + 6 mm
Weight :   350 MT  each

Client  : Uranium Corporation of India Ltd
Completion Year : 2010

Equipment  : Water Seal Drum
Design Pressure :   3.5 Kg/cm2
Design Temp :   220 degree Celsius
Shell Dia.  :   7700 mm
Length :   12500 mm
Shell Thickness :   20 mm
Weight :   229 MT

Client  : HPCL‐Mittal Energy Ltd

Completion Year : 2012

Strictly Private & Confidential 20
 Select Prestigious Orders (2/3) Design Eng. Manufacturing Turnkey EPC

Equipment  : Spent Cyclist Hoppers 
Design Pressure :   5.27 Kg/cm2
Design Temp :   427 degree Celsius
Shell Dia.  :   6400  mm
Length :   25600 mm
Shell Thickness :   34 mm
Weight :   200 MT

Client  : HPCL‐Mittal Energy Ltd

Completion Year : 2012

Equipment  : HP Air Receiver
Design Pressure :   34 Kg/cm2
Design Temp :   65 degree Celsius
Shell Dia.  :   4500 mm
Length :   17850 mm
Shell Thickness :   50 mm
Weight :   140 MT

Client  : Bharat Oman Refineries Ltd
Completion Year : 2011

Strictly Private & Confidential 21
 Select Prestigious Orders (3/3) Design Eng. Manufacturing Turnkey EPC

Equipment  : CO2 ABSORBER
Design Pressure :   0.20 Kg/cm2 
Design Temp :   100 degree Celsius
Shell Dia.  :   4800 mm
Length :   41600 mm
Shell Thickness :   20 mm
Weight :   120 MT

Client  : Tecnimont ICB Pvt Ltd

Completion Date : 2013

Equipment  : Purge Column
Design Pressure :   4.4 Kg/cm2
Design Temp :   125 degree Celsius
Shell Dia.  :   6000 mm
Length :   29380 mm
Shell Thickness :   23 mm
Weight :   120 MT

Client  : Tecnimont ICB Pvt Ltd

Completion Date : 2013

Strictly Private & Confidential 22
 Current Order Book Design Eng. Manufacturing Turnkey EPC

Completion
Name of Client Product Order Value
Date (Est.)
Passive Decay Heat Removal System, Emergency 
Nuclear Power Corporation of India  Ltd Condensers, Inventory Addition & Recovery System  USD 9 mn 2015
Heat Exchangers

Knockout Drums, Regenrator, Reboiler, HWB 
Bharat Petroleum Corporation Ltd USD 9 mn 2014‐15
Exchangers, Stripper reboiler

Nuclear Power Corporation of India  Ltd Distillation Columns USD 2 mn 2016

Shree Shyam Pulp and Board Mills Ltd Brown Stock Washer & Bleach Washer USD 1 mn 2015

Gujarat State Fertilizer & Chemicals  Ltd Dryer & Granulator USD 0.4 mn 2015

ONGC Petro Additions Ltd Clarifiers, SS Tanks, Vessels, Pressure Sand Filters etc. USD 0.2 mn 2014

OTHERS USD 3.4 mn ‐‐

TOTAL USD 25 mn
USD = INR 60
Strictly Private & Confidential 23
2C.  Turnkey EPC Division
 EPC ‐ Overview Design Eng. Manufacturing Turnkey EPC

 HDO has emerged as a major Engineering EPC player, assimilating new FY14 EPC Revenue Breakup 
technologies and providing the best, most cost effective and integrated Paper & Pulp
turnkey solutions for the process industries
Nuclear Power
 Company offers single source for everything it requires to design, build, 5%
commission & operate world class process plants 10% Minerals & 
Metals
 It has been involved in major industrial projects in areas of Mining and 40%
Water & Waste 
Minerals, Water and Wastewater, Fertilizers and Chemicals and Pulp and 20%
Water Treatment
Paper.
 It has done water management and effluent treatment for all major
refineries in India 25%
Chemical & 
 Company has an excellent presence in Uranium ore processing from Fertilizers
supplying equipment to the first uranium mill in Jagududa to now
providing the complete uranium ore processing plant at Tummalapalle in
Current EPC Order Book Breakup 
Andhra Pradesh.
 90% of phosphatic fertilizer plants in India are installed by HDO. Others 

 It has the capability of providing the entire pulp mill which none of the
Nuclear Power 20%
Indian EPC company possess even today.
31%
 HDO has strategic Tie‐ups with global players to add on to its EPC
capabilities 10% Minerals & 
Metals
 HDO has an outstanding track record of completing each and every
project undertaken by it and all its created facilities are operating 9%
smoothly Water & Waste  30%
Water Treatment
Chemical & 
Strictly Private & Confidential Fertilizers 25
 Strong Technical Expertise  Design Eng. Manufacturing Turnkey EPC

Minerals and Metals Fertilizer & Chemicals Nuclear Power

Environmental Paper & Pulp
• Uranium Ore Processing
• Industrial Process water 
• Alumina Refinery &  • Complete EPC execution  • Raw material wet  • Primary Piping Package
treatment plants
Smelting of DAP Plants cleaning plant
• Sewage treatment  • Common Services 
• Iron ore Beneficiation &  • Continuous digesters 
plants • Rotary Equipments viz.  Package
Pelletisation
• Industrial Effluent plants Granulator, Dryer,  • Brown‐stock washers
• Field Instrumentation 
• Copper Refinery Cooler
• Desalination plants • Oxygen delignification  Package
• Chrome Ore  • Zero Liquid Discharge • Scrubbers & Cyclones system
Beneficiation • Balance of Turbine 
• Demineralisation Plant • Over size Pulverizer • Bleach washers Island Package
• Sand Washing and 
• Condensate Polishing  • Recausticizing plant
Gradation
Plant
• Pulp mill effluent 
• Raw Water & Drinking  treatment plants
water treatment plants

Success Ratio in winning bid orders
• Apart from above industry verticals, HDO has the capabilities to undertake
and execute EPC projects for any process industry such as oil & gas, • Fertilizer & Chemicals : ~70%
petrochemicals, breweries, textiles, paints, etc • Minerals & Metals : ~50%
• HDO is recognized for adopting any technology as desired by the client and • Water Treatment : ~25%
executing the project based on that technology effectively • Paper & Pulp : ~90%
• Nuclear Power : ~20%
Strictly Private & Confidential 26
 Marquee Clients  Design Eng. Manufacturing Turnkey EPC

Strictly Private & Confidential 27
 Technology Partners Globally Design Eng. Manufacturing Turnkey EPC

Minerals and Metals Fertilizer & Chemicals

 Outotec, Germany (Settler & Washer Package for Alumina

Refinery)  Incro S.A., Spain (Pipe reactor technology)

 Alfa Laval, Sweden (Evaporation Plants in Alumina Refinery)  Prayon Technologies, Belgium (Phosphoric acid)

 Baateman, - Tenova South Africa (Alkai Leach Process for  Kemira, Finland (Formic Acid Plant, Inorganic Coagulant)
Uranium Ore Processing & Iron Ore Beneficiation)
 Espendasa, Spain (Pipe Reactor Tecnology)
 Fives Solios , France (Fume Treatment Technology for
Alumina Smelter)

 MCC, China (Iron Ore Beneficiation / Pelletisation)

 FLSmidth & Co, Germany (Settler & Washer Package) Water & Waste Water

 PRAXAIR, USA/India (Oxygen Plants)

 GE Water, Canada/India (MBR/UF technology)

 Aquatech, USA (RO and Ultra-filtration technologies)

Paper & Pulp  SFC, Austria (SBR technology)

 GLV Inc., USA/Indis (pulp mill projects with capacity greater  Dewa, Finland (Non-metallic API mechanism and GBT)
than 250 TPD)

 Dewa, Finland (sludge belt press filters)

Strictly Private & Confidential 28
 Major Projects Executed (1/3) Design Eng. Manufacturing Turnkey EPC

Project  Completion 
Client Name /Project  Location Project Details
Value  Year
Uranium Ore Processing Plant. Project Capacity : 3,000 TPD.
Uranium Corporation of India
The major operations involved Alkali Leaching, Thickening, Filtration, USD 75 mn 2010
Kadapa, Andhra Pradesh
Lime Handling System and Product Packaging system.
Alumina Refinery Project. Project Capacity : 3.0 MTPA
Vedanta Aluminium Ltd
Minerals & Metals

The major Package involved Settler and Washers Package, Evaporation USD 55 mn 2010 #
Lanjigarh, Orissa
and Milk Of lime packages

Bharat Aluminium Company Ltd

Fume Treatment Plant. Project Capacity : 3.6 MTPA USD 25 mn 2012
Korba, Chhattisgarh

Alumina Refinery Project. Project Capacity : 1.5 MTPA

Anrak Aluminium Company
The major Package involved 1.4 MTPA Settler and Washers Package and USD 17 mn 2014
Vizag
Milk Of lime package

NALCO Settler & Washer Plant.

USD 14 mn 2010
Damanjodi, Orissa Project Capacity : 0.7 MTPA HRD and DCW Package

ANP Granulation Plant. Project Capacity : 900 MTPD

RCF
Fertilizers

The major operation involved Granulation with Pipe Reactor technology, USD 14 mn 2008
Mumbai, Maharashtra
Drying, Cooling, Screening, Coating and Product packaging system

Coromandel Fertilizers Horizontal Belt Filter System

USD 8 mn 2009
Secunderabad, Andhra Pradesh The major operation involved Filtration system.

# 97% complete. Project on Hold
USD = INR 60
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 Major Projects Executed (2/3) Design Eng. Manufacturing Turnkey EPC

Project  Completion 
Client Name / Project Location Project Details
Value  Year

Total Water Management System. Project Capacity : Raw Water (130

MLD), ETP (12 MLD), RO‐DM(20.4 MLD), CPU (3.6 MLD). The major
HPCL Mittal Energy Ltd
operation involved Primary treatment ‐ Oil removal system, Secondary USD 55 mn 2011
Bhatinda, Punjab
Treatment System ‐ SBR & MBR. Plant also included VOC Treatment
system and Bioremediation Plant
Wa t e r / Wa s t e Wa t e r t r e a t m e n t

Integrated ETP. Project Capacity : 8 MLD (300 m3/hr.).

Hindustan Petroleum   The major operation involved Primary treatment ‐ Oil removal system,
Corporation  Ltd  Secondary Treatment System ‐ SBR & MBR & Tertiary treatment ‐ USD 20 mn 2010
Mumbai, Maharashtra Reverse Osmosis. Plant also included VOC Treatment system and
Bioremediation Plant

RO based ETP. Project Capacity : 30 MLD (600 m3/hr.)

The major operation included Primary treatment‐ Oil removal system.
Indian Oil Corporation Ltd
Secondary Treatment system ‐ Bio tower, Activated Sludge process, USD 18 mn 2009
Haldia, West Bengal
Tertiary Treatment‐ Reverse osmosis system of 1250 m3/hr and DM unit
of 150 m3/hr consist of MB Exchanger unit

Effluent Treatment Plant. Project Capacity : 9 MLD (375 m3/hr)

Bharat Oman Refineries Ltd The major operation involved Primary treatment ‐ Oil removal system,
USD 11 mn 2008
Bina Etawa, Madhya Pradesh Secondary Treatment System ‐ SBR & MBR. Plant also included VOC
Treatment system and Bioremediation Plant

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 Major Projects Executed (3/3) Design Eng. Manufacturing Turnkey EPC

Project  Completion 
Client Name / Project Location Project Details
Value  Year

Brahpmaputra Cracker &  Effluent Treatment Plant

Polymer Ltd  The major operations involved Primary treatment‐ Oil removal system, USD  13 mn 2014
Wa t e r / Wa s t e Wa t e r

Dibrugarh, Assam Biological treatment System & VOC System

treatment

Sewage Treatment Plant. Project Capacity : 25 MLD

CIDCO
The major operations involved waste water treatment using SBR USD 13 mn 2008
Navi Mumbai, Maharashtra
technology

Bharat  Petroleum  Effluent Treatment Plant. Project Capacity : 220 m3/hr

Corporation Ltd The major operation included Primary treatment‐ Oil removal system, USD 11 mn 2013
Kochi,Kerala Biological treatment System & VOC System

Bleached Paper Mill. Project Capacity : 100 TPD

GAP INSAAT(Çalik Holding) The major operations consisted of two production lines designed to use
USD 8 mn 2005
Yaslik, Turkmenistan two local raw materials – wheat straw and cotton linters to provide feed
Paper & Pulp

pulp to the paper machine

Unbleached Paper Mill. Project Capacity : 158 TPD. The plant was
designed to have the flexibility of using two local raw materials – wheat
Yash Papers Ltd
straw and baggase as feed to the pulp mill. In addition, a pulp bleaching USD 1.2 mn 2008
Faizabad, Uttar Pradesh
street was required to supply pulp to a 70 TPD paper mill producing
specialty paper and white & coloured poster paper

USD = INR 60
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 Select Prestigious Projects ‐ Alumina Design Eng. Manufacturing Turnkey EPC

LANJIGARH 1.4 MMTPA GREENFIELD REFINERY PROJECT
Project Name : Mineral Beneficiation Plant
In 2004, Vedanta Aluminium Limited started work on a major Greenfield Location : Lanjgiarh, Orissa
Alumina Refinery with ore processing capacity of 1.4 MTPA at Lanjigarh,
Orissa. HDO successfully delivered its first complete EPC project in Client  :  Vedanta Aluminium Ltd
Alumina industry within agreed performance guarantees. HDO was Project Value : USD 25 mn
awarded the EPC for following three packages:
1. Settler‐Washer package Completion Year : 2008
HDO used the latest technology hi‐rate thickeners for mud settling Technology Partner : Dorr‐Oliver Eimco Germany
and washing circuits. Causticization package and Oxalate Removal
System were part of this package as side streams. HDO did onsite
fabrication of ten deep cone thickeners of 20 meter diameter for the
Settler‐Washer package. These are the largest deep cone thickeners
ever used in any alumina refinery in India. Nearly all equipment
sourced in‐house from HDO manufacturing facility at Vatva,
Ahmedabad

2. 10 TPH Milk of Lime package

This is the auxiliary plant of an Alumina Refinery that produces the
reagent Milk of Lime. HDO used its tried and tested in‐house
technology and proprietary equipment for this plant

3. Hydrate Seed Thickener Package

HDO utilized state‐of‐art technology for efficient handling of hydrate
fines in the spent liquor emanating from the overflow of the
secondary cyclones. Cable torque thickeners of 35 meter diameter
specially suited for handling heavy duty conditions were used for the
hydrate settling circuit.

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 Select Prestigious Projects ‐ Alumina Design Eng. Manufacturing Turnkey EPC

LANJIGARH 3.0 MMTPA REFINERY EXPANSION PROJECT Project Name : Mineral Beneficiation Plant

Location : Lanjigarh, Orissa
In 2008, Vedanta Aluminium Limited awarded contract for the
expansion of its refining capacity from 1.4 MTPA to 5.0 MTPA, based on Client  :  Vedanta Aluminium Ltd
HDO’s successful execution of the packages for Greenfield 1.4 MTPA
Project Value : USD 55 mn
Plant. HDO was awarded the EPC for following three packages:
Completion Year  : 2010
1. Settler‐Washer package
Technology Partner : FLSmidth DOE, Germany
The Settler Washer Package for the project consisted of 20 Nos. of
Alfa Laval,  Sweden/India
Deep Cone Hi‐rate thickeners. It is the biggest Settler Washer Plant
in the Alumina Refinery in India. HDO received the letter of
appreciation from the client for highest level of erection in a single
day (185.2 Mt) for settler‐washer package

2. 30 TPH Milk of Lime package

The package consisted of 2000 MT storage godown, Handling,
storage & slaking facilities. HDO designed and manufactured 15 TPH
Drum Slakers, which are the biggest ever supplied by the company
till date

3. 3 x 300 TPH Evaporation Plant

HDO built a compact evaporation plant consisting of Six Stage Falling
Film Evaporators. The major erections include 3 X 6 Falling Film
Evaporators each weighing 120 MT. This is the biggest evaporation
plant for aluminate liquor built in India.

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 Select Prestigious Projects ‐ Uranium Design Eng. Manufacturing Turnkey EPC

3000 TPD URANIUM ORE PROCESSING PROJECT
Project Name : Mineral Beneficiation Plant
HDO has executed its largest order for 3000 TPD ground uranium ore Location : Tummalapalle, Andhra Preadesh
processing plant which included 17 sub packages. For the first time in
Client  :  Uranium Corporation of India
India, HDO has built the Uranium ore processing plant with “Alkaline
Leaching” technology. Project Value : USD 75 mn
Completion Year  : 2010
Scope of the Project :
Technology Partner : Bateman Engineering, SA
• Detailed Engineering, Procurements, Supply, Erection &
Performance Testing of 3000 TPD ore processing plant

• Procurement and installation of major packages like Boilers,

Evaporation plants, Spray Drying Plants and many more.

• In‐house production of Autoclaves, Proprietary equipments etc. at

the Vatva, Ahmedabad manufacturing facility

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 Select Prestigious Projects ‐ Total Water Design Eng. Manufacturing Turnkey EPC

TOTAL WATER MANAGEMENT BHATINDA REFINERY PROJECT Project Name : Total Water Management System

Location : Bhatinda, Punjab
In 2009, HMEL awarded the contract to HDO for Total water
management system on lump sum turnkey EPC basis which comprised Client  :  HPCL Mittal Energy Ltd
of following three major packages:
Project Value : USD  55 mn

1. Raw Water Treatment Plant Package (130 MLD ) Completion Year  : 2010

This packages was built incorporating advanced technology with Technology Partner : SFC Austria, GE Zenon Canada, 
Reactor Clarifier Aquatech USA.
2. Effluent Treatment Plant Package (12 MLD)
This package was built using Sequential Batch Reactor (SBR),
Membrane Bioreactor (MBR), Volatile Organic Control (VOC), Wet
Air Oxidation (WAO) and Sludge Bio‐remediation technologies
3. RO‐DM & CPU Plant package (RO‐DM 20.4 MLD, CPU 3.6 MLD)
This package was built with High Efficiency Reverse Osmosis Plant
(HERO) Technology for DM water generation. The CPU plant was
constructed with Oil Coalescer and MB for DM water generation.
UPS grade resins were used for MB & HRU units.

For this project, HDO made technology tie‐ups with following renowned
global companies:
 SFC Austria for SBR technlogy
 GE Zenon Canada for , MBR technology
 Aquatech USA for , High Efficiency Reverse Osmosis

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 Select Prestigious Projects ‐ Waste Water Design Eng. Manufacturing Turnkey EPC

CIDCO 25 MLD SEWAGE TREATMENT PROJECT
Project Name : Sewage Treatment Plant

 For the first time HDO utilized advanced Cyclic Activated Sludge Location : Navi Mumbai, Maharashtra
process / Sequential Batch Reactor (SBR) for biological treatment of Client  :  CIDCO
the sewage
Project Value : USD  13 mn
 The entire plant is automated (PLC based) requiring minimum
manual intervention. Completion Year  : 2008
Technology Partner : SFC, Austria

Project Name : Effluent Treatment Plant
Location : Mumbai, Maharashtra
HPCL 8 MLD INTEGRATED EFFLUENT TREATMENT PROJECT
Client  :  HPCL
Project Value : USD  20 mn  This project required constructing Integrated ETP utilizing the latest 
SBR, MBR and RO technologies
Completion Year  : 2010
 HDO built the first Volatile Organic Control (VOC) system for refinery 
Technology Partner : SFC Austria, GE Zenon Canada,  ETP in India
Aquatech USA, Dewa Finland  First time non‐metallic API separator was used in any ETP in India

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 Select Prestigious Projects ‐ Waste Water Design Eng. Manufacturing Turnkey EPC

Project Name : Effluent Treatment Plant BINA 9 MLD EFFLUENT TREATMENT PROJECT

Location : Bina Etawa, Madhya Pradesh  This project was constructed based on requirement of Zero liquid 
Client  :  Bharat Oman Refineries Ltd effluent discharge

Project Value : USD 11 mn  It’s the first integrated ETP in India that includes Sequential Batch 

Reactor (SBR), Membrane Bioreactor (MBR) and Volatile Organic 
Completion Year  : 2008 Control (VOC) technology
Technology Partner : SFC Austria, GE Water, USA

Project Name : DM & CPU Plant
HALDIA 30 MLD RO WASTEWATER TREATMENT PROJECT Location : Haldia, West Bengal
Client  :  Indian Oil Corporation Ltd
 HDO was awarded for Wastewater treatment and re‐cycling plant by Project Value : USD 18 mn
IOCL for their Haldia Refinery on turnkey basis.
Completion Year  : 2009
 This is biggest recycling plant using Reverse Osmosis Technology in
any refinery in India Technology Partner : Doshion, India

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 Select Prestigious Projects ‐ Fertilizers Design Eng. Manufacturing Turnkey EPC

RCF ANP Granulation PROJECT
Project Name : ANP Granulation Plant
 Through international competitive bidding, HDO along with Incro Location : Mumbai, Maharashtra
Spain as technology partner, was awarded this project on a
Client  :  Rashtriya Chemicals & Fertilizers 
complete EPC turnkey basis.
Project Value : USD 14 mn
 Till 2005, client was using prilling tower to manufacture Ammonium
Nitro Phosphate (ANP). But due to the hazardous nature of this Completion Year  : 2008
process it decided to replace the prilling tower with a granulation Technology Partner : Incro S.A., Spain
plant
 This is the first ANP granulation plant in India
 Most equipment for the granulation plant including rotary
equipment like granulator, cooler, dryer and static equipment like
cyclones, scrubbers and pre‐neutralizer were manufactured HDO
manufacturing facility in Vatva, Ahmedabad

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38
 Select Prestigious Projects ‐ Paper Design Eng. Manufacturing Turnkey EPC

TURKMENISTAN 100 TPD BLEACHED PAPER MILL PROJECT
Project Name : Paper Mill Plant
 The project consisted of two production lines designed to use two Location : Yaslik, Turkmenistan
local raw materials – wheat straw and cotton linters to provide feed
Client  :  GAP INSAAT(Çalik Holding)
pulp to the paper machine.
Project Value : USD  8 mn
 HDO was responsible for the entire the wheat straw based pulp fiber
Completion Year  : 2005
line and recausticizing plant on turnkey basis comprising of:
 Raw material wet cleaning plant Technology Partner : ‐‐
 Continuous digester system
 Brown stock washing system
 Screening and cleaning system
 Oxygen delignification system
 Oxygen preparation plant
 Total chlorine free (TCF) bleaching system
 Recausticizing plant

 HDO was able to provide major cost savings to the client as 80% of
the equipment supplied was proprietary HDO equipment and was
manufactured and transported from the HDO manufacturing facility
at Vatwa, Ahmedabad.

 All the equipment had to undergo rigorous testing in order to

withstand the extreme climatic conditions (from +45 to ‐15 degree
C) at Yaslik

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 Ongoing Projects (1/2) Design Eng. Manufacturing Turnkey EPC

Client Name /  Project  Unexecuted Completion 

Location Project Details
Location Value  Order Value Year (Est.)

Nuclear Power 
Field Instrumentation ‐ Supply, 
Corporation of India  Kota, Rajasthan USD 30 mn USD 29 mn 2015
Erection/Commissioning
Ltd

Nuclear Power 
Kakrapar,  Heavy Water Upgrading (UGP) & Waste 
Corporation of India  USD 8 mn USD 8 mn 2015
Gujarat Management Plant (WMP) Package
Ltd

Gujarat State Fertilizer  1650 MTPD DAP/NPK D‐Train with pipe reactor 

Sikka, Gujarat USD 40 mn USD 35 mn 2015
& Chemicals Ltd technology

Gujarat State Fertilizer  Vadodara, 
60 MTPD Water Soluble Fertilizer Plant. USD 6 mn USD 4 mn 2015
& Chemicals Ltd Gujarat

Gas Authority of India  Vijaipur
Special Project – Civil Works USD 18 mn USD 4 mn 2015
Ltd Madhya Pradesh

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40
 Ongoing Projects (2/2) Design Eng. Manufacturing Turnkey EPC

Client Name /  Project  Unexecuted Completion 

Location Project Details
Location Value  Order Value Year (Est.)

Donimalai
NMDC Ltd Mineral Beneficiation Plant USD 21 mn USD 6 mn 2015
Karnataka

Effluent Treatment Plant . (Oil separation process 
ONGC Petro Additions  
Dahej, Gujarat , Activated Sludge process and Ultra Filtration  USD 29 mn USD 4 mn 2015
Ltd
Technology )

70 MLD Sewage Treatment Plant 
Mumbai, 
CIDCO (Activated Sludge Process by using SBR  USD 11 mn USD 2 mn 2015
Maharashtra
Technology)

Other Ongoing Projects USD 137 mn USD 33 mn ‐‐

TOTAL USD 300 mn USD 125 mn

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41
 Select Ongoing Projects Design Eng. Manufacturing Turnkey EPC

GSFC DAP/NPK Plant (Fertilizer) Project Name : 1) Water Soluble Fertilizer                 

2) DAP / NPK Plant
1. The first order is for supply of water soluble fertilizer plant having Location : 1) Vadodara in Gujrat
capacity of 60 MTPD is worth USD 6 mn. The project is coming up 2) Sikka in Gujarat 
at GSFC's Vadodara complex. The Major operation involves the
Client  :  Gujarat State Fertilizer & 
Raw material handling, Mixing and Product Bagging system.
Chemicals Ltd
2. The second order is for supply of 'D' Train DAP/NPK Plant having
capacity of 1,650 MTPD valued at USD 40 mn. The project is Project Value : 1) USD 6 mn  2) USD 40 mn
coming up in GSFC's existing complex in Sikka near Jamnagar. The Technology Partner : 1) None 2) Espindesa, Spain.
Major Operation involves the Raw material handling, Granulation
by using Pipe Rector Technology, Drying, Cooling, Screening and
Product Bagging system.

NPCIL Field Instrumentation Package (Nuclear Power)
Project Name : Field Instrumentation Package
 In 2012, HDO bagged an order from Nuclear Power Corporation of
Location : Kota, Rajasthan India Ltd for the supply of ‘field instrumentation package’ for the
Client  :  Nuclear Power Corporation of  2x700 MW ‘pressurized heavy water reactors’ for the Rajasthan
India Ltd Atomic Power Plant at Kota, Rajasthan.

Project Value : USD 30 mn  Field Instrumentation package covers design, supply, installation,

testing and commissioning of field instruments, analytical
Project Completion : 2015 (Estimated) instruments, special instruments and equipment for the complete
Technology Partner : None 2 x 700 MW nuclear power plants at Kota.

Strictly Private & Confidential USD = INR 60 42
 Intellectual Capital
Human Assets (as on 30th Sept 2014) Employee Strength Qualification #
Design Engineering 120
Others
Manufacturing  230
EPC 300 Professionals
Services 12% 5%
Marketing / Business Dev 20
Finance 35
Supply Chain 20
Quality Assurance 12 83%
HR / Admin 25
Information Techonlogy 5
Engineers
Others 33 150
# excluding Workforce

TOTAL EMPLOYEES  800 Experience with HDO

 In addition to above, HDO hires construction workers at site on Over 10 years Less than 2 

contract basis for project execution, on case to case basis. 21% years

37%
Attrition Rate
17%
• Senior Level : 2 ‐ 3%
5  ‐ 10 years
• Mid Management Level : 6 ‐ 7%
• Labor / Workforce : 8 ‐ 10% 25%

2  ‐ 5 years
Strictly Private & Confidential 43
 Organization Structure 

Board of Directors

Executive Director 

Vice President   Vice President  Vice President  Vice President 

(Finance) COO  (Projects) COO
(Procurement) (Manufacturing) (HR & Admin)

Projects  Engineering Marketing Business  Estimate 

Head Head Head Devp. Head Head

Strictly Private & Confidential 44
 Key Management Personnel (1/2)

• Has more than 45 years experience in the field of mining and related activities
Prabhakar
• Recognized as a leading management practitioner in India
Ram Tripati
Chairman • Earned honors in Bachelors of Science in Mining Engineering from Indian School
of Mines, Dhanbad, Bihar.

• A charismatic and visionary business leader.

E Sudhir Reddy  • Chairman & Managing Director of IVRCL Infrastructures & Projects Ltd
Vice Chairman • Under his able guidance, the IVRCL group has emerged as one of the fastest
growing infrastructure companies in India.

• More than 25 years of experience in marketing, commercial, project and

S C Sekaran
corporate affairs.
Executive Director
• Holds a masters degree in statistics

Strictly Private & Confidential 45
 Key Management Personnel (2/2)

• Has been with HDO for last 20 • Associated with company since
years last 35 years
• Responsible for the complete • Rich experience in the fertilizer
marketing activities and various industry vertical and heads the
EPC jobs executed by the process engineering division
Company
• Chemical Engineer from Harcourt
P K Mishra • Chemical Engineer from Birla A K Gupta
Butler Technological Institute,
COO Institute of Technology and Vice President –
Process Engineering Kanpur
Science, Pilani

• Associated with company since

last 15 years
• Manages HDO’s finance,
accounts & audit

D P Mishra • Chartered Accountant by

Vice President  qualification
(Finance)

Strictly Private & Confidential 46
Milestones

Made an overseas acquisition. Acquired Davy

Incorporated as a private limited company
1974 2010 Markham Ltd based out of UK

Executed Asia’s 1st plant for recovery of water from

2.5 MGD secondary treated sewage, for industrial De‐merger of Manufacturing Division into its
2000 application using HDO’s advanced technology 2011 subsidiary HDO Technologies Limited
including RO de‐salting system

Completed Asia’s largest Uranium Processing Plant

Bought over by IVRCL Infrastructures Projects 2012 for UCIL of 3000 TPD capacity which is also worlds
2005
4th Alkali leached plant.

SAP implemented, ISO 14001:2004 certified for

environmental management system & ISO
2008 18001:2007 certified for occupational, health & 2013 Underwent a Corporate Debt Restructuring
safety management system

ISO9001:2008 certified for Quality Management Plans to have a strategic partnership with a global
2009 system 2014 multinational

47
 Shareholding Pattern (as on 30th Sept 2014)
Shareholders No of Shares % Stake

Promoter & Promoter Group

IVRCL Ltd 39,804,430 55.28%

Public  Shareholding

Mutual Funds 5,872,500 8.16%

Foreign Institutional Investor 2,591,057 3.60%

Corporate Bodies 4,249,541 5.90%

Individuals 18,654,050 25.91%

Directors & their Relatives & Friends 130,700 0.18%

Non Resident Indians 630,903 0.88%

Others  72,627 0.09%

TOTAL  72,005,808 100%

Strictly Private & Confidential 48
3.  Indian Market Overview
 Indian Economy
India GDP Growth Rate
• India’s economy is the world’s third largest by purchasing power 12.0%
parity (PPP) and 11th largest by nominal gross domestic product 10.3%
9.8%
(GDP). India holds a 6.4% share of global GDP on PPP basis 10.0% 9.3% 9.3%
8.5%
• The country is one of the G‐20 major economies, a member of 8.0%
6.6%
BRICS and a developing economy that is among the top 20 global
5.6%
traders according to the WTO 6.0%
4.7% 5.0%
3.9%
• India is the second‐fastest growing economy, after China 4.0%

• India is fast becoming one of the prime industrialized nations in 2.0%

the world, on the back of rapid technological advances
0.0%
• India is the world's 3rd most attractive investment destinations. 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E
FDI into India increased by 8% year‐on‐year to USD 24.3 billion in
FY 14. GDP Composition by Sector (2013 Estimates)

• The country has a very favorable demographic profile with around

65 % of population in the age group of 15 – 64 years and a Agriculture
median age of about 26.7 years 17%

• India’s government has targeted over USD 1 trillion in Services 57%

infrastructure investment during the 12th Five‐Year Plan. The goal
is for half of this money to come from the private sector, up from
almost 37% during the 11th Five‐Year Plan 26%
Industry

Strictly Private & Confidential Source : Industry Research 50
 Minerals & Metals  ‐ Industry Overview
Untapped mineral Potential
• India is ranked 4th amongst the mineral producer countries, behind
China, United States and Russia, on the basis of volume of production Unproven ‘resources’ are more than twice the proves ‘reserves’

• The country produces as many as 87 minerals, including 4 fuel

% of Total resources
minerals, 10 metallic minerals, 47 non‐metallic minerals, 3 atomic
minerals and 23 minor minerals
• India’s spend on mineral exploration is less than 0.5% of the global
spending on exploration in 2010, much below its fair share given the
size of mineral resource potential
• The Mining sector contributed about 2% to the GDP in 2012‐13. Given
the availability of mineral wealth in India, the Ministry of Mines,
Government of India aims to increase share of mining and quarrying in
GDP to 5% of GDP over the next 20 years

Expected changes in Government  Policies
Forthcoming Project Opportunities
• Many industrials like Anrak, Nalco, Hindalco, Vedanta, JSW etc • The new government is expected to take steps
have lined up huge investments in Alumina Projects for clearing pending proposals, give
• Uranium Corporation Of India has plans to have additional environmental clearances and take decisions on
facility for increasing Uranium production land acquisitions and restrictions on mining.
• Similarly SAIL, NMDC, Jindals, Tatas have major plans for Iron • Policy decisions is expected to be taken for
Ore Beneficiation and Pellet plants mining mineral ore, iron ore and utilization of
• Coal India Ltd and other private players are coming up with coal down‐stream power from coal, against costly
handling and washery project. imported coal.

Strictly Private & Confidential Source : Industry Research USD = INR 60 51

 Fertilizers & Chemicals ‐ Industry Overview
Demand Forecast of Fertilizer Products
• India is the third largest producer and consumer of Fertilizers in the
world . India primarily being an agriculture based economy, over half 40000
35000 FY14 E FY18 P
of country’s workforce is engaged in agriculture as principal

Tones (in 000)
occupation 30000
• There are 57 large and 72 medium and small fertilizer production units 25000
manufacturing extensive range of phosphatic, nitrogenous and 20000
complex fertilizers. 15000
• Indian fertilizer industry has reached international levels of capacity 10000
utilization by adopting various strategies for increasing the 5000
productions of fertilizers 0
UREA DAP NPK SSP

Expected changes in Government  Policies
Forthcoming Project Opportunities
• The new government is working on to have a
• Transparent fertilizer policy and clarity on gas price is expected effective and long‐term policies pertaining to gas
to give a boost to fertilizer industry in India in coming days allocation and reducing price gap between urea
and NPK fertilizers
• Many fertilizer companies such as RCF, IFFCO, Indo Gulf, GNFC, • Focus is have a stable policy framework to
GSFC, KRIBHCO etc are looking for capacity expansions and have minimize the uncertainties and help the industry
plans for Ammonia, Urea and phosphatic fertilizer projects plan their investments better

Strictly Private & Confidential Source : Industry Research USD = INR 60 52

 Water & Waste Water Treatment ‐ Industry Overview
Waste Water Generation & Treatment
• Industrial and municipal segments account for almost 90% of the USD
2 trillion water treatment market in India. Waste Water Generated Waste Water Treated
• As per estimates, 22,900 MLD of domestic wastewater & 13,500 MLD 50000
of industrial wastewater is generated every year. Against this
treatment capacity available for domestic wastewater is only 5,900 40000
MLD and for industrial wastewater is 8,000 MLD

MLD
30000
• Municipal and domestic water demand is projected to double by 2030,
to 108 billion m3 while demand from industry is projected to 20000
quadruple to 196 billion m3
10000
• India has a long coastline of 7,600 kilo meters and is poised to witness
high growth ratios in desalinating water in the future. 0
FY 06 FY 07 FY 08 FY 09 FY 10 FY 11

Expected changes in Government  Policies
Forthcoming Project Opportunities
• Municipal bodies in most of the Tier II cities in India have • The New government has recently established a
realized the importance of clean water and are now opting to special Fund and is executing CLEAN GANGA
set up water treatment and sewage treatment plants Project at a fast pace which requires setting up
ETP / STP plants in over 118 towns
• CLEAN GANGA project which is planned to run for 18 years will
call for massive investment • Regulations for disposing waste water by
polluting industries is expected to become more
• Expansion by refineries and other process industries offers huge
stringent
opportunity for ETP, STP, DM plants and water treatment plants

Strictly Private & Confidential Source : Industry Research USD = INR 60 53

 Nuclear Power  ‐ Industry Overview
• India has 21 nuclear reactors in operation in 7 nuclear power plants, Planned Nuclear Power Plants in India
having an installed capacity of 4780 MW that contributes ~2% of the
country’s total energy generation.
• The Government of India intends to draw 25% of its energy from
nuclear power by 2050. This plan includes 20,000 MW of installed
capacity from nuclear energy by 2020, and 63,000 MW by 2032
• Industry body Federation of Indian Chambers of Commerce and
Industry has called for an investment of more than USD 100 billion in
nuclear power over a 25‐year period.
• Prime Minister Narendra Modi has recently secured Japanese Prime
Minister Shinzo Abe’s pledge for a nuclear agreement. He has also
brought on board Australian Prime Minister Tony Abbott for a deal for
uranium sales to India

Expected changes in Government  Policies
Forthcoming Project Opportunities
• The new government has recently signed a
• As per the XII Five Year Plan (2012 ‐ 17), Nuclear Power nuclear cooperation agreement with Australia to
Corporation of India Ltd has proposed to launch 8 new projects sell uranium to India
across 8 states with cumulative capacity of 16,100 MW. These
comprise of four projects (5600 MW) of twin units of 700 MW • The government is contemplating of amends the
Civil Liability for Nuclear Damage Act (CLNDA),
indigenous PHWRs and four LWR projects (10,500 MW) of twin 2010 which has not impacted sales of nuclear
units of 1000 MW or higher unit sizes. reactors from the US, but from other major
suppliers as well

Strictly Private & Confidential Source : Industry Research USD = INR 60 54

4.  Future Strategy
 2011 – 13 Tough Years
 The GDP growth rate in India fell from 10.26% in 2010 to 6.64% in Corporate Debt Restructuring
2011, and to 5.00% in 2013.
• HDO’s debt got restructured in 2013.
 The infrastructure sector was impacted due to lower government • Under the restructuring scheme company got
spending, regulatory challenges, limited availability of finance etc.
following benefits :
 Fresh orders dried up with no large projects being floated in the  Reduction in Interest Rate on Working Capital
market due to negative market sentiments. facility
 HDO’s problems were compounded during the last three calendar  Conversion of partial Working capital loan to Term
years as some large clients of ODH faced regulatory issues leading to Loan
cancellation of orders and payment delays.  Moratorium Period of one year

Total Income (Last 6 years) EBITDA (Last 6 years)

180 20
160 15
140 10
USD million

USD million

120 5
100
0
80 FY 09 FY 10 FY 11 FY 12 @ FY 13 # FY 14
‐5
60
‐10
40
20 ‐15
0 ‐20
FY 09 FY 10 FY 11 FY 12 @ FY 13 # FY 14 ‐25
Strictly Private & Confidential USD = 60 INR @ 15 months           # 9 months  56
 Future Strategy
 Implement a business revival plan to turnaround the company and make it profitable again
 Focus on project execution and completion of existing projects on priority basis
 Manage the cash flows more effectively
 Selectively bid and win EPC projects with good profit margins
 Undertake more orders for design engineering job and manufacturing equipment business vertical
 Enter into a strategic partnership with a global major

Design Engineering Manufacturing Turnkey EPC

 Leverage on its business relationship

 Put special thrust in getting orders  Focus on industry verticals such as
and network to bag orders for
specifically for design engineering nuclear power, fertilizers, minerals &
complex engineering equipment
work metals etc. where the profit margins
manufacturing.
are better
 Increase the share of revenue from  Opt for Consortium bidding and
 Enhance capacity utilization and
design engineering vertical to at partner with other larger EPC
aims to generate revenue of Rs 2,000
least 10% of total revenue in next 3 companies to bid for big projects.
million form manufacturing vertical
years Also bid for large private tenders
in next 3 years

Strictly Private & Confidential 57
 Select Projects Bid For Design Eng. Manufacturing Turnkey EPC

Project  Expected 
Client Name Location Project Details
Value  Award Date

Wa t e r
Oil and Natural Gas Corporation Ltd Uran, Maharashtra Modernization of ETP Plant  USD 25 mn Feb 2015

Nagaland Pulp & Paper Co. Ltd Tuli, Nagaland WTP – DM & ETP Plant USD 15 mn Dec 2014

Towell Engineering Sohar, Oman 125 MLD WTP with 10 Years O&M USD 25 mn Feb 2015

Khulna Water Supply & Sewage # Khulna, Bangladesh Surface WTP & Impounding Reservoir USD 100 mn Mar 2015

Fertilizers
Gujarat Narmada Valley Fertilizers Dahej, Gujarat 50,000 MTPA PAC Plant USD 25 mn Jan 2015

Minerals
NMDC Ltd Jammu, J&K 100 TPD Dead Burnt Magnesia Plant  USD 50 mn Dec 2014

Steel Authority of India Ltd # Bhilai, Chhattisgarh 1 MTPA Beneficiation & Pellet Plant USD 120 mn Mar 2015

Paper & Pulp

Nagaland Pulp & Paper Co Lltd Tuli, Nagaland 95 TPD Pulp Mill & Recovery Boiler USD 55 mn Dec 2014

# Under Bid submission
USD = INR 60
Strictly Private & Confidential 58
 Thank You

Hindustan Dorr‐Oliver Limited
Dorr Oliver House, Chakala, Andheri (East), Mumbai ‐ 400 099 | Tel: 91‐22‐28359400 
www.hdo.in