Outlook For Low Power AC Drives in India

Outlook for Low Power AC Drives in India
2012 ARC Financial Services (P) Ltd. All rights reserved. Privileged and confidential information of ARC Financial Services Downloaded by atk-users from 12.17.120.141 at 2012-05-21 01:39:52 EDT. ISI Emerging Markets. Unauthorized Distribution Prohibited.
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AC Drives
Traditionally used in process focused industries
Derived demand is dependent on performance of industries such as Machine Manufacturing Pulp, Paper & Packaging Food Construction engineering Materials handling Energy production Water management Vehicle & Transportation Oil and gas production
As technology developed, AC drives replaced DC drives in industries requiring high precision of speed control and good dynamic performance
Future applications include use in hybrid vehicles, residential heating pumps & consumer durables
Major markets include Japan, BRICs & USA

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Industries & Applications

Industries

Applications

Mining Machine building Power stations Electrical industry Marine and offshore Pulp and paper Food and beverage Motor Industry Rubber and plastics Building industry Water and waste water Chemical industry Oil and gas industry Robotics
Cranes Mixers Textile machines Conveyors Packaging machines Compressors Metal working machinery Fans Paper machines Winders Heaters and dryers Test equipment Lifts/elevators Pumps
Source: Trends in AC Drive Applications, Victor Stefanovic

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Why AC Drives?
Flexibility & Ease of Use
Miniaturization Lower Costs
AC Drives
Precise & Accurate Speed Control Improved Functionality
Reduced Hardware & machine set up time
Source: Trends in AC Drive Applications, Victor Stefanovic

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Global Overview
Global AC drives market grew by approximately 8% in 2010 Total value of the market was approximately USD 9 B Worldwide market expected to reach USD 11.8 B by 2014 Moderate growth in 2010 did not compensate for 16% market decline in 2009
Market Segmentation in terms of Revenues, 2010

Rest of the World 9% Europe 25% APAC 43%
Growth Prospects
Strongest growth is forecast in the BRIC countries and in China & India in particular Order volume increased by 19% in APAC, 4% in Europe, and 4.5% in North America Government legislature like European Union directive 2005/32/EC promotes use of AC drives Germany has best growth potential among European countries Shaky & uncertain macroeconomic situation in the EU may lead to muted growth in Europe
USA 23%
Source: AC drives in Asia Pacific, Data monitor, September 2011
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Asia-Pacific Overview
Major growth region over the last decade have been the developing countries and APAC Asia Pacific region witnessed 4.3% CAGR during 2006-2010
Asia-Pacific AC drives market segmentation: % share, by value, 2010
Micro Devices 24% High End 32%
AC Drives Market in Asia Pacific

8
7.1 12 6.7 7 10 8 6
7 6 5 4 3 2
5.9
6.5
4 2 0 -2 -4
USD B % growth
1
Low End 25% Middle Range 19%
-6 -8
0
2006 2007 2008 2009 2010
Source: AC drives in Asia Pacific, Data monitor, September 2011

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India Economy An Overview

Key Data Indicators
Area 3,287,263 km2
Population
GDP
1,210,193,422
$1.843 T
GDP Growth
GDP Per capita
8.5%
$1,527
Top Companies
ABB, Siemens AG, Hitachi, Schneider Electric

100% FDI allowed India- Signatory of International Technology Agreement, WTO
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Regulatory Environment
India Economy An Overview

Located in South Asia, India is the worlds 2nd largest country (by population) and 7th largest (by area). India consists of 28 states and 585 approved SEZs The industrial sector contributes 26.3% of the GDP. The electronics industry estimated be valued at $150 B by CCI India is a net exporter of display technologies, storage devices and electrochemical components. However, relative to software industry, growth in hardware manufacturing industry has been sluggish India accounted for 12.3% share of the global market in 2010. Asia Pacific is the biggest market in the world, with a share 60.9% share of the global market Since 2005-2006, India has showed a GDP CAGR of 8.2%. India is among the youngest nations, with more than 50% of the population under 25 years of age
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Trends in AC Drive Industry in India

The Indian market markets offer an immense potential for growth in the AC drives market owing to: High Electricity consumption
Demand for local production

Infrastructure development Energy efficient mechanisms Sustainable practices
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High Electricity consumption
The high growth in electricity consumption is expected to drive the growth of low power AC drives in India. The future growth in the electricity production and consumption is another factor that would aid the growth of AC drives in India.
Source: Indian low-power AC drive market explodes, controlglobal.com, Finnish AC drive company expanding India operations, hindsutantimes.com, tradingeconomies.com
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Demand for local production
The high growth in the domestic market has also necessitated the local production of AC drives in India. Many new companies are keen on setting up their production facilities in India. Manufacturers around the world are exploring the opportunity to set up manufacturing facilities in India.
"Local presence in India's growing markets is essential for us, and many of our customers and cooperation partners find it necessary. India's electricity consumption is one of the highest in the world, and therefore, the country offers a lot of market potential for us, Vesa Laisi, President and CEO, Vacon Finland based manufacturer of AC drives
Source: Energy savings, sustainability to propel low-power AC drives market growth, reliableplant.com, Indian low-power AC drive market explodes, controlglobal.com
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Infrastructure Development
The emerging economies are witnessing a period of high growth. A large amount of expenditure is being made on developing infrastructural facilities that includes rapid metros, airports, and other services. This has facilitated the demand for low power AC drives in large quantities. Investments for AC drives in such industries as electric power generation and water and wastewater has also increased at a high rate
As the emerging economies grow faster than the rest of the world, the
demand for AC drives in these economies will certainly be very high in the next decade
Source: Robust Investments Boost Low-Power AC Drives Market, powerelectronics.com
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Significant Spending of Indian Government in Infrastructure (INR B)
6000 5000 4000
3000
2000 1000 0 Roads Railways Aviation Ports Urban Infra Power Telecom Oil & Gas
Source: Logistics in India, September 2010 Massive spending in power & infrastructure facilities are a positive sign for the continued growth of the AC Drive industry
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Energy Efficient Mechanisms
While the demand for electricity is rising, there is a parallel demand for energy saving mechanisms and low energy consumption devices Low power AC drives can be very helpful in these mechanisms and consequently there demand is expected to increase owing to the demand for energy saving mechanisms The growing pressure on industries recovering from the economic recession is to increase their productivity and reduce operating costs As more and more countries look towards low energy mechanisms their expenditure on low power AC drives would grow that would benefit the AC drive manufacturers.
The XII Five Year plan is likely to lay special focus on energy efficiency targeting reduction of 12,000 mw, Dr. Ajay Mathur, Director General of Bureau of Energy Efficiency, India.
Source: Energy savings, sustainability to propel low-power AC drives market growth, reliableplant.com, Energy efficiency and infrastructure boom low-power variable frequency drives (VFDs, AC drives) market, inverter-china.com
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Sustainable Practices
Industries around the world are adopting sustainable practices to reduce energy consumption and make more of their processes automated. Enhancing operational excellence of manufacturing plants is crucial for survival and funding expansion plans. As a natural progression, plant and factory automation is increasing. The expanding economies of emerging countries are also creating a greater need for automated buildings, while the need for more electricity is driving huge investments in the power sector which is a major demand driver for AC drives. The high amount of investment in renewable energy will also aid the expansion of AC drives industry.
Source: Energy savings, sustainability to propel low-power AC drives market growth, reliableplant.com, Energy efficiency and infrastructure boom low-power variable frequency drives (VFDs, AC drives) market, inverter-china.com
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Founded in 1883, ABB (www.abb.com) is headquartered in Zurich, Switzerland, and among the prominent players in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact The ABB Group of companies operates in around 100 countries and employs about 130,000 people Their businesses involve the following divisions 1. Power Products This division incorporates ABB's manufacturing network for transformers, switchgear, circuit breakers, cables and associated equipment 2. Power Systems Power Systems offers turnkey systems and services for power transmission and distribution grids, and for power plants 3. Discrete Automation and Motion This division provides products, solutions and related services such as motors, generators, drives, programmable logic controllers (PLCs) and power electronics for a wide range of automation applications. 4. Low Voltage Products Manufactures low-voltage circuit breakers, switches, control products, wiring accessories, enclosures and cable systems to protect people, installations and electronic equipment from electrical overload. 5. Process Automation Provides customers with products and solutions for instrumentation, automation and optimization of industrial processes Multiples (USD) USD 50.573 B USD 18.62 14.01 USD 6.8 B
Stock Price Performance over the Last Year
ABB Stock Price (USD)

30 25 20 15 10 5 ABB Stock Prices 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Valuation Metrics (as on 31st December, 2010) Market Cap: Stock Price (as on 27th Dec 11) P/E Revenues
Additional Notes
ABB Stock is listed on Swiss Stock Exchange Conversion Rate (as on 27th Dec 11) 1CHF = 1.06 USD
Net Income
Total Assets
USD 2,561 M
USD 36295 M
Source: Company filings, Team ARC research, Company Filings, Call Transcripts, Generic Web Search , Inputs from companies website, Bloomberg
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Crompton Greaves (CG) a part of the Acanthi Group was established in the year 1937 as a private sector under the name of Crompton Parkinson Works Ltd The wide range of products that the company offers is canalized through its four business units- These are Power Systems, Industrial Systems and Consumer Products with headquarters in Worli, Mumbai In 2002, the Company divested its shareholding of 38% in CG Newage Electrical Ltd to Cummins India Ltd with the consideration of Rs 220.50 per share In May 2005, Crompton Greaves acquired the Belgium-based Pauwels Group, a company internationally known for its transformer manufacturing and service capabilities, with manufacturing facilities in Belgium, Ireland, Canada, USA and Indonesia, and together, the two entities effectively cover all key global geographies The acquisition of Ganz Transelektro Villamossagi Zrt during the 2006-07 led to the company in an enterprise value of approximately $35 M In 2006-07, Crompton Greaves' Indian Power Systems business succeeded in opening 9 new International markets for its products CG is a public listed company, amongst the "A" (premier) category of listings on the Bombay and National Stock Exchanges of India and its GDRs are listed on the London Stock Exchange, with over 70,000 shareholders Multiples (USD) USD 1.519 B
CG Stock Price (USD)

7 6 5 4 3 2 1 0 Crompton Greaves Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Valuation Metrics (as on 31st March, 2011) Market Cap: Stock Price (as on P/E Revenues 27th Dec 11)
Additional Notes
Crompton Greaves Stock is listed on National Stock Exchange of India Conversion Rate (as on 27th Dec 11) 1INR = 0.0187 USD
USD 2.368 12.73 USD 993.23 M
Net Income
Total Assets
USD 160.84 M
USD 653.21 M
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In 1933 Mads Clausen establishes the company, Dansk Kleautomatik- og Apparat-Fabrik The first ARV and TRV valves were soon supplemented with automatic AV and AVS valves Privately held global company, with approximately 24,000 employees and 79 factories in 22 countries 110 sales companies and more than 400 agents and distributors all over the world Business Areas include Refrigeration and Air Conditioning, Heating, VLT Drives, Industrial Automation, High-Pressure Pumps, Solar Energy and Silicon Power Modules Danfoss has been honored with the Excellence Award for managerial excellence and contribution to Indian economy at the Institute of Economic Studies in New Delhi, India in 2007 Danfoss introduced new drive technologies to bridge gap between flexible decentral drive solutions and central monitoring and control, in 2008 The VLT drives series VLT HVAC Drive, AQUA Drive and Automation Drive were designed up to 1.4 MW in normal overload at 690 V., with efficiency greater than 98%, in 2009 In 2010, Danfoss Won the "Top 50 Green Companies" Award in China On Nov 4, 2011 Danfoss launched India 2015, wherein it will try to invest 500 M DKK over the next 5 years in India
Danfoss Stock Price (USD)

70 60 50 40 30 20 10 0 Sauer-Danfoss Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Multiples (USD) USD 1.733 B USD 35.80 7.262 USD 1,640.583 M
Net Income
Total Assets
USD 213.399 M
USD 1,130 M
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Delta Group is the world's largest provider of switching power supplies and DC brushless fans, as well as a major source for power management solutions, components, visual displays, industrial automation, networking products, and renewable energy solutions Delta Group has sales offices worldwide and manufacturing plants in Taiwan, China, Thailand, Mexico, India and Europe Delta India Electronics is a 100% subsidiary of Delta Electronics (Thailand) PLC, a group company of Delta Group. Operating in India since 1992, Delta India Electronics India is the leading provider of Telecom Power Solutions and a major source of Industrial Automation 8 Regional Offices, 3 manufacturing facilities at Rudrapur, Puducherry and Gurgaon and 2 R & D centers in Gurgaon and Bangalore The $6.6-B, Taiwan-based Delta Electronics is investing $15 M to set up a manufacturing facility for solar inverters in Chennai In 2011, CNBC European Business magazine listed Delta Electronics as a "Global Top 100 LowCarbon Pioneer
Delta E. Stock Price (USD)

5 4 3 2 1 0 Delta Electronics Stock Price
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Valuation Metrics (as on 31st December, 2010) Market Cap: Stock Price (as on P/E Revenues 27th Dec 11)
Multiples (USD) USD 5.511 B
Additional Notes
Delta Electronics Stock is listed on Taiwanese Stock Exchange Conversion Rate (as on 27th Dec 11) 1TWD = 0.033 USD
USD 2.30 14.025 USD 5.643 B
Net Income
Total Assets
USD 519.88 M
USD 3.861 B
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Emerson is a global company that brings together technology and engineering to provide innovative solutions for customers in a wide range of industrial, commercial and consumer markets Control Techniques India started it's operation in 1993 as joint venture company concentrating mainly on sectional paper mills drives, steel processing, winder - unwinders & tension control applications It became 100% subsidiary of Emerson / Control Techniques in 2005 The Product range includes AC Drives, DC Drives, Servo Motors, Servo Drives, Servo Motors and Soft Starters, as well as Industry Solutions for Automotive Test Stands, Cranes and Hoists, Metals, OEM Machine Manufacturing, Packaging Machinery and Photovoltaic Energy System
Emerson Stock Price (USD)

70 60 50 40 30 20 10 0 Emerson Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Valuation Metrics (as on 31st March, 2011) Market Cap: Stock Price (as on 27th Dec 11) P/E Revenues
Multiples (USD) USD 33.2 B USD 46.37 13.2 USD 21.039 B
Net Income
Total Assets
USD 2.164 B
USD 23.861 B
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Fuji Electric Holdings Co., Ltd, operating under the brand name FE, is a Japanese holding company that retains manufacturing companies of pressure transmitters, flowmeters, gas analyzers, controllers, inverters, pumps, generators, ICs, motors, and power equipments Fuji Electric was established in 1923 as a capital and technology tie-up between Furukawa Electric, a break-away venture from Furukawa zaibatsu company, and Siemens AG The 4 basic Divisions and Products into which Fuji Electric is divided are as follow 1. Fuji Electric Systems - Power, Public sector demand, Transportation, Plant systems and services for social infrastructure in industry, Drive control devices, Power supply devices 2. Fuji Electric FA Components & Systems - Control devices, Distribution devices, Gasrelated devices. Joint venture with Schneider Electric 3. Fuji Electric Device Technology - Semiconductor devices, Magnetic disks, Photoconductive drums and peripheral imaging devices 4. Fuji Electric Retail Systems - Vending machines, Freezing and refrigerated showcases, currency handling devices, Non-contact IC card systems, and related services
Fuji Elec. Stock Price (USD)

4 3.5 3
2.5
2 1.5 1 0.5 0 Fuji Elec. Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Additional Notes
Fuji Electric Stock is listed on Japanese Stock Exchange Conversion Rate (as on 27th Dec 11) 1JPY = 0.012 USD
USD 2.51 19.094 USD 8.294 B
Net Income
Total Assets
USD 81.08 M
USD 8.507 B
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Hitachi was established in 1907, with the original name Tokyo Tukudajima, while the Industrial Components and Equipment Group was established in 1999 Hitachi Group is headquartered in Tokyo, and its 5 chief manufacturing plants are spread across China, Japan, and Thailand Additionally, it has Sales Offices spread across all inhabited continents Hitachi has been a diversified company that has 11 business segments: Information and Telecommunication System, Electricity System, Social and Industrial System, Electronic Device and System, Construction, Automotive System, Component and Device and Financial service Hitachi Products for the Industrial Equipments Systems are Motors, Inverters, AC Servos, PLCs, Switches & Breakers, Transformers, Rope Hoists & Chain Hoists, Air Compressors, Pumps, Blowers and Continuous Ink Jet Printers Due to a demand for supervising moving objects or measuring positioning , Hitachi Solutions department has been focusing on greater use of GPS(Global Positioning Systems) to meet them
Hitachi Stock Price (USD)

7 6 5 4 3 2 1 0 Hitachi Ltd. Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Additional Notes
Hitachi Ltd. Stock is listed on Japanese Stock Exchange Conversion Rate (as on 27th Dec 11) 1JPY = 0.012 USD
USD 4.83 13.813 USD 111.78 B
Net Income
Total Assets
USD 2.856 B
USD 11.22 B
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Mitsubishi Electric Started in 1921, and began Operations in India in mid-1950s Offer a wide range of innovative and high-quality products for the Indian market, including air conditioners, visual information systems, power devices, photovoltaic (solar) solutions, power systems, elevators and escalators, transportation systems, automotive equipment and industrial automation machinery Globally, the company is divided into the following 5 Profiles 1. Energy and Electric Systems - Turbine generators, hydraulic turbine generators, nuclear power, gas insulated switches, switch control devices, etc. 2. Industrial Automation Systems Programmable logic controllers, inverters, servomotors, short-circuit breakers, transformers for electricity distribution, time and power meters, etc. 3. Information and Communication Systems - Wireless and wired communications systems, surveillance cameras, satellite communications equipment, satellites, radar equipment, antennas, missile systems, etc. 4. Electronic Devices - Power modules, high-frequency devices, optical devices, LCD devices, etc. 5. Home Appliances - LCD televisions, projection TVs, display monitors, projectors, DVD players and recorders, room air conditioners, etc. Multiples (USD) USD 18.312 B
M Electric Stock Price (USD)

14 12
10
8 6 4 2 0 ME Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Additional Notes
Mitsubishi Electric Stock is listed on Japanese Stock Exchange Conversion Rate (as on 27th Dec 11) 1JPY = 0.012 USD
USD 8.532 12.428 USD 43.74 B
Net Income
Total Assets
USD 1.488 B
USD 39.984 B
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Parker Hannifin Corporation Ltd., with annual sales exceeding USD 10 B, is one of the world's leading diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets Parker Hannifin Corporation had acquired SSD Drives worldwide in August 2005 and the Indian operations in early 2007 Parker SSD Drives is an industry leading manufacturer of industrial AC variable speed drives, DC drives, servo drives and servo motors and provided coordinated automation system solutions for industries such as converting and web handling, wire and cable, plastics, paper, textiles, metals, machine tools, power generation etc.
P H Stock Price (USD)

100 80 60 40 20 0 Parker Hannifin Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Net Income
Total Assets
USD 949.47 M
USD 10.886 B
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Rockwell Automation was initially founded in 1903, and is headquartered in Milwaukee, USA Rockwell Automation is a global provider of industrial automation, power, control and information solutions. Brands in industrial automation include Allen-Bradley and Rockwell Software Presently, it has recorded $6 B Sales annually, and employs approx. 20000 people to serve customers in over 80 countries Rockwell Automation spun off from Rockwell International in 2001 From there, Rockwell Automation went through a series of acquisitions, particularly Propack Data (now Rockwell Automation Solutions GmbH) in 2002, DataSweep in 2005, GEPA in 2006, ICS Triplex, ProsCon and Pavilion Technologies in 2007, and Incuity in 2008 and Lektronix Ltd in 2011
Rockwell Stock Price (USD)

120 100 80 60 40 20 Rockwell Stock Price 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Valuation Metrics (as on 30st September 2011) Market Cap: Stock Price (as on 27th Dec 11) P/E Revenues
Net Income
Total Assets
USD 213.5 M
USD 5.284 B
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Schneider Electric was founded in 1836, and has developed from products, to providing complete energy solutions, by 2010 Schneider Electric strengthened its lead in the development of the Smart Grid, with the acquisition of the distribution activities of Areva T&D, in 2010 Opened businesses in new market segments: UPS (uninterruptible power supply), movement control, building automation and security through acquisitions of APC, Clipsal, TAC, Pelco, Xantrex In 2010, Schneider Electric recorded 19.6 B Euros of Sales, with 37% contribution from new economies, and an employee base of more than 110,00o In the Energy & Infrastructure market, our products and services solutions cover: 1. Processes control and supervision 2. Power supply & distribution 3. Energy monitoring and control 4. Utility management (lighting, ventilation, elevators, intruder alert, etc.) 5. Smart electrical networks management 6. Single site or multi-site production data management 7. Critical power 8. Offer prepayment systems that bring electricity to disadvantaged customers Multiples (USD) USD 27.982 B
S E Stock Price (USD)

90 80 70 60 50 40 30 20 10 0
Schneider Elec. Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Additional Notes
Schneider Electric Stock is listed on French Stock Exchange Conversion Rate (as on 27th Dec 11) 1 Euro = 1.29 USD
USD 50.98 11.764 USD 25.258 B
Net Income
Total Assets
USD 2.218 B
USD 19.143 B
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Siemens AG is a German multinational conglomerate company founded in 1847, presently headquartered in Munich, Germany. It is the largest Europe-based electronics and electrical engineering company Siemens is an integrated technology company with activities in the fields of industry, energy and healthcare. It is organized into six main divisions: Industry, Energy, Healthcare, Equity Investments, Siemens IT Solutions and Services and Siemens Financial Services (SFS) Siemens and its subsidiaries employ approximately 420,800 people across nearly 190 countries and reported global revenue of 76.651 B Euros for the year of 2009 Siemens AG is listed on the Frankfurt Stock Exchange, and has been listed on the New York Stock Exchange since March 12, 2001 Feeling insecure, in September 2011, Siemens transferred more than half-a-B Euros in cash deposits from large French bank to the European Central Bank (ECB). In all, Siemens has deposited between 4 to 6 B Euros ($5.4 to $8.1 B) mainly in one-week deposits. Only prominent companies can deposit directly with the ECB
Siemens Stock Price (USD)

140 120 100 80 60 40 20 0 Siemens Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Valuation Metrics (as on 30th September, 2011) Market Cap: Stock Price (as on P/E Revenues 27th Dec 11)
Additional Notes
Siemens Stock is listed on German Stock Exchange Conversion Rate (as on 27th Dec 11) 1 Euro = 1.29 USD
USD 4.73 9.518 USD 27.807 B
Net Income
Total Assets
USD 1.333 B
USD 171.611 B
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The history of Vacon dates back to 1993 when a group of 13 employees at the Vaasa Factories of ABB Industry founded Vaasa Control, presently employing about 1400 people globally TB Wood's had been operating in the electronics business for more than 40 years when their AC drives business in the United States, India, Germany and Italy was incorporated into the Vacon Group in January 2008 Vacons shares are listed on the NASDAQ OMX Helsinki Oy. On 31 December 2009, Vacon had 5,114 shareholders, of which 71.1% were institutions or private investors operating in Finland and 28.9% were foreign owners Vacons AC drives are utilized in a large number of industries and sectors around the world., such as machine building, mining, renewable energy generation, construction engineering, marine & offshore industry and water treatment Vacon has sales companies and representatives in 27 countries, and Production and R&D Centres in Europe and Asia
Vacon Stock Price (USD)

70 60 50 40 30 20 10 0 Vacon Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Multiples (USD) USD 621.509 M
Additional Notes
Vacon PLC Stock is listed on Finland Stock Exchange Conversion Rate (as on 27th Dec 11) 1 Euro = 1.29 USD
USD 40.63 17.96 USD 436.02 M
Net Income
Total Assets
USD 23.865 M
USD 262.257 M
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Yaskawa was founded in 1915, it mainly produced basic three-phase induction motors and low-voltage magnetic contactors Yaskawa America, Inc. - Drives & Motion Division is a U.S. corporation, created to provide Automation Solutions and Support to our customers in North America, Central America, and South America It is the world's largest manufacturer of AC Inverter Drives, Servo and Motion Control, and Robotics Automation Systems Products are marketed through direct sales, partners, representatives, dealers, and distributors. Yaskawa America, Inc. - Drives & Motion Division is a wholly-owned corporation of Yaskawa Electric Corporation of Japan On October 5, 2011, Yaskawa managed to cross sales of 1 M units of its Inverters
Yaskawa Stock Price (USD)

14 12 10 8 6 4 2 0 Yaskawa Stock Price Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Valuation Metrics (as on 20th March, 2011) Market Cap: Stock Price (as on P/E Revenues 27th Dec 11)
Additional Notes
Yaskawa Stock is listed on Japanese Stock Exchange Conversion Rate (as on 27th Dec 11) 1 JPY = 0.012 USD
USD 7.82 14.475 USD 3.552 B
Net Income
Total Assets
USD 78.528 M
USD 31.68 B
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For Details Contact:

Himanshu Jain himanshu@arc-fs.com
ARC Financial Services Pvt Ltd 402, Pearls Business Park, Netaji Subhash Place, Pitampura, New Delhi, India-110034 www.arc-fs.com +91-11-6542 2128 +91-99537 29651
Copyright 2012 by ARC Financial Services Private Limited No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means electronic, mechanical, photocopying, recording, or otherwise - without the permission of ARC Financial Services Private Limited.
2012 ARC Financial Services (P) Ltd. All rights reserved. Privileged and confidential information of ARC Financial Services Downloaded Privileged 12.17.120.141 at 2012-05-21 01:39:52 EDT. ISI Emerging Markets. Unauthorized Distribution 2012 ARC Financial Services (P) Ltd. All rights reserved. by atk-users from and confidential information of ARC Financial Services Prohibited.
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Outlook For Low Power AC Drives in India

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Major markets include Japan, BRICs & USA

Industries & Applications

Source: Trends in AC Drive Applications, Victor Stefanovic

Flexibility & Ease of Use

Miniaturization Lower Costs

Reduced Hardware & machine set up time

Source: Trends in AC Drive Applications, Victor Stefanovic

ISIEmergingMarketsPDF atk-users from 12.17.120.141 on 2012-05-21 01:39:52 EDT. DownloadPDF.

Market Segmentation in terms of Revenues, 2010

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AC Drives Market in Asia Pacific

Source: AC drives in Asia Pacific, Data monitor, September 2011

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India Economy An Overview

ABB, Siemens AG, Hitachi, Schneider Electric

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India Economy An Overview

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Trends in AC Drive Industry in India

Demand for local production

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Trends in AC Drive Industry in India

Trends in AC Drive Industry in India

Trends in AC Drive Industry in India

Trends in AC Drive Industry in India

ISIEmergingMarketsPDF atk-users from 12.17.120.141 on 2012-05-21 01:39:52 EDT. DownloadPDF.

Trends in AC Drive Industry in India

Trends in AC Drive Industry in India

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Stock Price Performance over the Last Year

ABB Stock Price (USD)

Stock Price Performance over the Last Year

CG Stock Price (USD)

USD 2.368 12.73 USD 993.23 M

Stock Price Performance over the Last Year

Danfoss Stock Price (USD)

Multiples (USD) USD 1.733 B USD 35.80 7.262 USD 1,640.583 M

Stock Price Performance over the Last Year

Delta E. Stock Price (USD)

Multiples (USD) USD 5.511 B

USD 2.30 14.025 USD 5.643 B

Stock Price Performance over the Last Year

Emerson Stock Price (USD)

Multiples (USD) USD 33.2 B USD 46.37 13.2 USD 21.039 B

Stock Price Performance over the Last Year

Fuji Elec. Stock Price (USD)

Multiples (USD) USD 1.872 B

USD 2.51 19.094 USD 8.294 B

Stock Price Performance over the Last Year

Hitachi Stock Price (USD)

Multiples (USD) USD 21.859 B

USD 4.83 13.813 USD 111.78 B

Stock Price Performance over the Last Year

M Electric Stock Price (USD)

USD 8.532 12.428 USD 43.74 B

Stock Price Performance over the Last Year

P H Stock Price (USD)

Multiples (USD) USD 11.773 B USD 77.93 10.73 USD 12.145 B