AREVA T&D India announces positive results for 2008

• 32 % increase in Sales; 16% increase in Operating Profit*
• 37% increase in orders; 90% Dividend declared

The Board of Directors of AREVA T&D India Ltd., met today in Noida to approve the annual results of the Company.  The Company reported sales of Rs 2641 Crores and an operating profit of Rs 405 Crores for the year ended December 2008, which represented an organic growth of 32% in sales and 16% more profit than last year.

The Q4 2008 sales were Rs 934 Crores as compared to 733 Crores in the same quarter of the previous year. Though the Operating Profit declined in the same period over the previous year, due to some products mix change and industrial footprint adaptation, the Operating Profit increased by 16% for 2008 over the year 2007.

For the year ended 31st December 2008, the Company has registered an impressive order growth of 37%. This has translated into a robust year ending order backlog of 4095 Crores, an increase of 49% over the previous year, which will secure sales activities for 2009.

“In 2008, AREVA T&D India Ltd became Number 1 in the T&D market. Eight of its product lines are now market leaders in India. AREVA T&D India has delivered positive results amidst challenging market conditions since the last quarter. This is attributed to our continued focus on leveraging our strengths in high-end technology and offering a complete portfolio of Products and Solutions to customers”, said Rathin Basu, Country President & Managing Director, AREVA T&D India Ltd.

“With prospects in the 765kV and 1200kV market segments, AREVA T&D will continue to offer strong technological support to achieve localization. We have the three Greenfield projects to maintain our leadership footprint in Extra High Voltage and Ultra High Voltage segments”, said Karim Vissandjee, Chief Financial Officer, AREVA T&D Global.

* Operating Profit before interest and restructuring cost and Profit on property