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Schneider Electric Infrastructure Ltd
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Ladies and gentlemen, good day, and welcome to the Schneider Electric Q1 FY '24 Earnings Conference Call hosted by Elara Securities Private Limited. [Operator Instructions] Please note that this conference is being recorded. I now hand the conference over to Mr. Mudit Kabra from Elara Securities Private Limited. Thank you, and over to you, sir.
Thank you, Lizan. Good afternoon, everyone. On behalf of Elara Securities, we welcome you all for the Q1 FY '24 conference call of Schneider Electric Infrastructure Limited. I take this opportunity to welcome the management of the company. We'll begin the call with a brief overview by the management, followed by the Q&A session. I will now hand over the call to Mr. Vineet Jain, Head, Investor Relations. Over to you, Mani.
Thanks, Matesh. Good afternoon, everyone. I'm Vineet Jain, Heading Investor Relations of and elect Infrastructure Limited. I'm pleased to connect with you all to share and update the progress of our company. Let me introduce to the management team today. We have a partner, all-time Director and plant head of SEIL with us to share our overall business update. I welcome Suparna Bhattacharyya, the new CFO of SEIL. She is a qualified professional with 25 years of experience in finance and operations. She has worked in various industries like retail, health care, automotive and semiconductors, ETC. We also have our group CFO, and Arnab Roy. Now I will hand over the call to Arnab for the presentation. Over to you, Arnab .
Thank you, Vinit. -- and once again, a warm welcome to all, ladies and gentlemen, on the call. I will speak as the slide deck has been already shared with all of you, and I would request you to move to the Slide #3, where we talk of the overall market scenario of India. So if you see what we are presenting and sharing with you that the GDP for India grew by a steady 6.1%, which is almost 1% higher than what was expected by the market. and just to give you a ballpark figure, the other economies, U.S. is growing at just 2%. China 4.5%, and France 4.2%. So we are progressing much, much better than what we are at the India level, and this is what we've seen in the GDP increase.
Similar trends, you can also see the macroeconomic indicators like gross capital formation, which is nothing but the CapEx investment -- net CapEx investments by the government. Although the urban sector as -- also the agricultural sector has not been being as [indiscernible] and the urban demand has been increased and the private consumption, et cetera, is also okay. So we see overall a good CapEx done by the entire India as a whole. Not to be left behind the industrial production also has been growing at a very steady rate, and it grew by almost 4% in this quarter, and it is set to grow -- expected to grow anything between 6% to 6.3% during this financial year and likely to go over to 7.2% in the next 2 years.
So this is a quite a steady growth pattern that we see for the India as a whole for the [indiscernible] for real estate or the industrial production. -- and since we are more into the industrial side scenario for the products and services that we offer to all the states. I will request you now move to the next slide, where we will share how the market looks for us and Schneider Electric and these are the 5 main sectors which we are selling, being the power and grid, which is nothing but maybe the state electricity boards and the utilities.
The mining, minerals and metals, mainly the steel companies, cement companies, the mobility, which is the rail corporations and the new segment that we are seeing in the EV charging. The prudent service providers, what we also are a data center and the industries and building. So overall, if you see from the power and grid sector, if you see, there has been a team launched by the government of India, what we call as RDSS, which is a remand distribution sector scheme and around INR 3 lakh crores have been outlaid by the government for this the simple activity of reducing the transmission and distribution losses from up to 12% to 15%, which is today at a very high number.
So this is the area where we and standards are also very active and focusing having a lot of specific products and services on this offering. In addition to that, there is almost a significant amount of money that the government is paying on the production mix incentive, be it for the large-scale battery storages or as we heard in the news Tesla is planning to set up some investment in India for some car manufacturers. So all this put together is quite a strong trend for the company, and we would be looking forward to put our products and services into also the power and grid sector. The mining metal and mineral metal is also an area which has been traditionally electricity [base] .
There is also a big trend on what is called a green initiative anywhere. People are trying to lose more of fossil fuels for making steel. They want to use or reuse most of the discarded industrial waste for cement and have a better and better mining where the environmental impact is minimum. And all this can happen only if they have a state-of-art technology, a good Bio diagnostic tools which will helped them, and this is where Schneider is also present. We have, I would say, a very good lineup of products and services offerings, which would help the industry with the steel, cement to optimize their electricity flow distribution losses and become and more efficient and try to have this focus on the green initiatives that they are doing , on the mobility sector, if I move, we are aware that there are several initiatives for the metro rates being launched across the country as well as there is a big focus on the lithium ion manufacturing with the big news like Excide, Ola, and our products from Schneider are very omni present in all of these sectors and all the activities that I mentioned.
So we are also quite hopeful that we will get our fair share of business out of the mobility sector. The data center sector or what we call as cloud and service provider is a related to a new entrant, and we are seeing a big expansion from companies like Amazon, Google, Facebook in India. They are setting what we call as a hyperscale investment hyper-sized data centers, big data centers of 1 megawatt to 5 megawatt in sites, and these are certainly the industry, I would say, pulling the growth to demand from the industry over here and not to be left behind and there are certain business models which are also coming up as what we call the co-location. -- where a big site is sort of given are the rent or lease to other companies to use their data center and then we then go something what we call as a Edge solutions.
Industries and building also is going to go very strong, and we are seeing a big improvement also on the trend with to the products and services that we have. Just to give you a quick update on our -- how we are -- all this growth has been improving for us. Then a certain [ bids ] on the next slide that you are seeing because we have got some exceptional orders through our power and grid sector, be it improve installation of new transformers or that the customer wanted and these are breakthrough orders and also along with the digital solutions, which Schneider is pushing a lot on the EcoStruxure Asset Advisor and the state-of-the-art technology that we are doing.
So 2 such wins are shown here, where we have done, I would say, total one Schneider approach given all our products and services to these customers. If I move to the next slide, which is basically our successes on data centers, and as I said, this is an emerging market, quite bullish on this market, and we will have -- continue to have our products and services, which are very state-of-the-art and this is what are also globally accepted and supplied by Schneider across over to companies like Amazon with the standardize a solution and deployed across the world. The next slide speaks on our transformation and automation what we are doing and how we are helping the customers to improve their Blue footprint. At the same time, offering a digital solution, which has got, I would say, set of sensors and all the diagnostic tools that we are having. This is coupled with some state-of-the-art software that we have as a company either developed, and we offer this sort of query solutions on a subscription basis to this company, and we have also been able to on a very specific in some cases, use our green initiatives from Schneider because we are also focusing a lot along with the digitization of the green initiative of sustainability.
where we have made the transformer with natural Easter oils rather than the mineral oil, so it has helped us to focus a lot on the environment aspect as well as the asset adviser, which is a digital tool for the customers. Since I mentioned something about the transformers, this is one particular segment on the next slide that you see. THis is EcoStruxure transformal expert, a state-of-the-art sensor that we have in our Schneider portfolio provided along coupled with, I would say, trademark or it's a very cut patented license software that we have, we can offer a very diagnostic sort of tool where the entire health of the transformer on a predictive side or on the preventive side can be done.
And as many of you probably might be doing, these transformers are quite difficult to [particular] one stoppage and a breakdown can cause a big amount of money and downtime and typically one then we 2 on the transformer sales sometime within the year, which is statistically shown so it helps the customer, if they have a good diagnostic tool that how my transformer is behaving, do I need to do some maintenance or can it run for other 1 year without stoppage? Or do I need to do something. All this will happen in a very substantial base tool that Schneider is offering to the customers -- this is one of the digital services that we are the sort of offering to the customer and how it influences us, the customer is because we -- all these losses because of unplanned downtime and either reduce the efficiency of the equipment, reduces on the loss of the unplanned downtime, we have loss of revenue, and availability of skilled resources.
So we are and tried to focus on the CapEx to OpEx model, which I'm showing on the next slide. and with the power of data because today, we have data evidently with us, how we utilize this data to make it more useful, relevant to the customer for them to get better analytics, predictive on a predictive side. This is what Standard is trying to do with the state-of-the-art products and solutions that we are having. So in all, if I can say that there's a good trend in the quarter that we are seeing, coupled with the growth in the economy and how it has reflected with respect to our orders and sales for the first quarter. I will now request my colleague, we need to take over the next slide, which will talk about our order input and the sales performance for the first quarter. Thank you, ladies and gentlemen.
Thanks, Arnab. Before going to the numbers, just to update you all based upon all the investor feedback during our last AGM management has decided to change the currency from [EUR] and to and INR from this financial year, and that's the reason the published financials were in Lakh and the current presentation is also in the Lakh INR only. So just to keep the currency in mind when you're reading the numbers. So let's move on to Slide #10. Our OT order intake is 21.4%, up in this quarter, and total sales is 33.3%, up in this quarter. The showcase that journey, we have started for the growth is continued and strong focus on the execution and healthy backlog helped us to achieve this growth and to maintain up the momentum.
So going to the next slide. Again, this quarter, we are able to improve our gross margin and the major contribution is coming from the mix. and the raw material cost normalization. As a result of this, we are able to achieve a 10.5% and double-digit EBITDA that we were continuing and now it's in the numbers, and that is 7.1%. Overall, P&L is aligned with our strategy that we have communicated from last few of quarters. We are focused on our cash and margins and will continue this journey. I will close here and leave the floor open for the question and answer. Over to you.
The first question is from the line of [indiscernible] From BCPL.
I want to find out this EcoStruxure product, which is there. That is basically developed by the parent, right?
Yes...
Yes. So this listed entity, is this the only entity in India to do the business for EcoStruxure?
And . So basically, EcoStruxure is the Schneider in which all the product portfolio, the global Schneider is marked. So from the SPIL perspective, whatever the products we have like all the transformer AIG is part of the 3 layers of the EcoStruxure. So EcoStruxure is a platform. It's not a product -- it's an open source IoT to complement what we need safe . So I mean, the architecture is like this. The first level of the architecture is a connected product. So whatever and is treated with the way it and communicate. That's the first level of architecture. The second level of the architecture is where multiple machines start talking to each other. That's what we've called and edge controller or it layer.And the third layer is when it is feted with the software where we can do daimeter -- so that's what essentially EcoStruxure is. So any, I mean, product of any other companies in the group can use the architecture depending on what the solution is.
Okay. And do you need to share some revenue with the parent for this -- for using the platform or...
No, no.
You don't have to .
It's part of the group offerings.
Okay. and what is the present service percentage in the revenue business from services?
Business sales is around 11% from the services this quarter.
11% for the April to June quarter.
Yes.
And if you can just look ahead, same, 3 to 5 years, you've talked a lot about our service-oriented businesses in your investor presentation. So in, say, 5 years' time, what would be some figure which you would aim at as a percentage of revenue?
And as a company for the time being, we are holding our statement that we are not giving and the future statements, and we will come back to in due course if the management chose to further the future statements until that time, so we'll not be able to see...
But sir, can we -- will it be a reasonable assumption that your services business will grow significantly higher than your product business?
Our strategy that we have communicated earlier that we want to increase the transactional and service mix in a manner because it will be giving the better contribution in terms of the margin and return. So that's the reason. So how much it will increase is depending on the futures.
And what's the scope for this listed entity and the whole energy transition area, renewables, green hydrogen, et cetera. and how prevalent are you in these areas, the listed entity?
Yes. See, the entire focus of Schneider is in the renewables. So which depending on the products, which every company has -- the focus remains and from industry entity perspective, also the portfolio which we cater hit us to renewable in a significant way. So it's absolutely the core of what we do.
Okay, okay. And sir, this gross margin which you had this quarter, would this be sustainable? Or this can also go up with services going up?
Again, it's a future statement. But if you are talking about a quarterly basis, we used to say that when you're looking at the gross margin on a sustainable basis, it is taken as a yearly number because Quarter on the quarter, some of the abnormal makes and sometimes it's for Forex fluctuation and metal moment impact and due quarter numbers. So better to take an average of the annual number, it will be a more sustainable way.
And sir, this data center business, what would be the TAM, total addressable market for the district entity?
As of now, data center market is emerging in India. So it's enough to comment over the TAM is there.
Okay. Okay. And sir, what about the new MD appointment? Any feedback on that?
As per the legal limits, we have another 1.5 months to announce. So management is working towards it and this is finalize we will announce inn the public normal...
And. The next question is from the line of Naysar Parikh from Native Capital.
The first one was, can you give a sense of the revenue mix between your different products like industrial switch gears, transformers, et cetera, just to get some directional sense.
We used to give the revenue breakup and between the 4 services that I'm giving you. The service revenue for this quarter is 11% and transaction is 24%, and the system business is [ 65% ], in which Equipment is [ 37% ] project is 10% and IG business mix is [18% ] That where our business is giving every part of that.
Sorry, can you repeat Equipment is 37%.
Equipment is 37% project is 10% and IT 18%. This toghether makes a system and a 65% and then transactional is 24%, and service is 11%.
Okay. Got it. And on the data center side, in your order book, what percentage would be data centers roughly is it like directionally if you can give a sense?
Data centers is an emerging market as now. So on the backlog side, it's tough for to come and at this moment because the loss of affection is coming and emerging market that we are factoring. But as of now, we cannot disclose on the data center segment .
Okay. Understood. And earlier, you used to have this slide on partners and that being the big driver is not there. But can you give us a sense of this quarter, what percentage revenues was from partners? -- and secondly, also, can you guide in terms on the kind of work that is outsourced to the partners? Is it low-end unprofitable work or even partners make money? So I just want to understand focus from what we are outsourcing also...
I think the strategy and the direction remains the same. If you see what articulated earlier, the transaction business is primarily what we do through the partner. So the 24% which you said is a transaction business that's primarily party-driven and that is a continuous focus. We continue to kind of accelerate to start to use consistent risk.
And can you comment on some kind of work that -- how do you split the work between what you are doing and what the partner is doing...
It depends on the solution. So there are some customers who will require a full OEM solution, including the fabrication to be done by the OEM, where we go with our full solution. There are some customers who are okay with the core technology and even by Schneider and fabrication being done by the partners. That's where we go to the partner solution. So it's really driven by the customer when the customer needs...
Okay. and then 94% transaction business and the partners are doing. So this business is typically sourced by like the partners or sourced by Schneider and then it allocates so and...
And this transaction and does not mean that alr thing is that is going to the partner. Partner is one of the drivers that will help. So that breakup and you are not using not give to reserve partner contribution. So it's overall the business, which includes all the aspect of the and the demand is jointly driven. To answer your specific question, demand is jointly driven. We have our own sales team who keeps working on the segments and they keep generating demands.
Okay. and what would be the order book as of June end.
It's almost INR 1,120 crores..
Okay. and just the last question in terms of...
The next question is from the line of Ritesh Shedafrom Lucky Investments.
Is it the equipment -- the systems business within which you said products is 37%. So that portion of the business is only where the product sales exist?
It's not product, it's project.
So you mentioned 65% systems in which there is product projects and then there was one more. So there were 3...
Equipment, project and IG.
Equipment. So basically, I Rode as products. So Equipment -- so Equipment is where the only Equipment or, let's say, a transformer is sold or switchgear is sold comes a part of this business, right?
Yes. and...
To keep it simple, where a full panel is sold, how the transformer and so the full product that's and equipment. Project is when a set of equipment gets integrated together to form a solution that's a project.
And transactional is we deal...
And you are giving a component of an equipment, say, a breaker or a relay a core component...
Can you tell us what is the utilization of your manufacturing setups?
Ramon, you want to take that?
Blended is okay. I don't want a separate number for each.
We are approximately between 60% to 70% loaded on a 2-shift basis and is working. And product lines. On an average basis.
You can do 3 shifts or we have to consider 2 shifts only?
No. Legally, you can do 3 shifts.
Okay. and my last question is, sir, in the presentation, we have given the segment areas. So you mentioned as power grid industries, mobility and data centers. Any rough indication of the mix of business in these 4 areas?
We usually don't give the mix between this segment, so we will not be able to share.
At least you can tell us if anything is high bigger than the other or some hierarchy...
And directionally, if you look at Medium Voltage, we are electro-intensive industry and 3 electro-intensive segments, which is power and grades, mobility and mining metals and minerals. So these are the 3 electro-intensive and there's a heavy need of power to put in a very simple term. So that will be obviously the majority of the business, and then there are emerging sectors like data centers, CPGs and so on and so forth, which ...
Okay. and my last question is, sir, we have been in a certain business range for the last whole decade. and when we look at whatever is happening in the capital expenditure side, there is a lot of movement, a lot of projects happening around, whether it's T&D, whether it is metals, whether it is data centers, -- do you share a similar opinion and do you foresee a situation where now the growth in your business is more visible for at least some more -- some many years or you do not share a similar opinion.
I think we are bullish on the macro. I think anybody who is in India, I mean, there's no reason why you should not be bullish about the macro. I think the GDP -- I mean, depending on whose forecast you take is in the 6% to 7% range, and if you add inflation, and the nominal GDP in the teens range .And within the GDP, if you look at the new capital formation, which is where and companies like us more depend on the new capital formation is probably higher than that. So I think the macro looks good. I mean -- and the government is sustaining the investment in the national critical infrastructure.
So that is good. I mean there is a focus on some of the emerging segments and data center and all, so that is good. So the macro story continues to be bullish. -- and our business and the Schneider core strategy is very aligned to the government of India strategy. So we see a profit Environment between the 2.
Okay. Lastly, what levers do you have in your margin? What kind of levers or drivers do you have in your operating margin numbers?
I think you've got already the essence of the capacity, which we can do more from what Arnab said. So that is already there, and we continue to keep accelerating our journey and keep innovating and serving our customers.
The next question is from the line of Aditi Debra from Deorah Investments.
Sir, how much CapEx we have already done for the Kolkata plant?
Arnab you want to take ?
Capita is early stage at this stage. I can take that, but I think -- I mean we still have probably and the 2 to 4 quarters for that to get completed. So still early stages.
Okay. and sir, what kind of asset turnover we expect from that front? I guess we are spending around INR 140 crores in that plant?
It's going to be a global center. I mean we, of course, do the idea for India requirement also and it will also kick later to India for the world. So it will be -- I mean utilized, so there is a good plan and robust Plan to utilize it. But as it and it will take a year for it to operationalize.
That's fine. But at the optimum utilization, would it be a 2x asset turnover or a 3x asset turnover?
I mean it will be a fully loaded facility. So whatever is there, we will have a lot to get into this.
Sir, any amount, it will be helpful for us, sir.
So I think I don't think we will get into that micro of putting asset turn then. But as we said, it will loaded facility.
The next question is from the line of Bharat Takkar and Investor .
I have 2 questions. One is that there was an accumulated loss of something around INR 300 crore plus as per September 22 accounts, and there is no mention of that in June quarter -- June 23 quarters. So is it that loss has been completely squared off?
As you know, we usually show our balance sheet on a half yearly basis. This is a quarterly results, so we don't show the balance sheet. But I'm sure you have the March balance sheet with you and you can do the math by adding the numbers for this quarter.
So we are directionally moving and where we said that we are wiping off that accumulated loss. and when we present the September results, you will see an effect of this, and you'll be happy to see the effect of this is all I can say at this stage.
Okay. and from this presentation, one can say that major orders are from power sector. So is there any headway in this EV charging installation, which I suppose you were to concentrate on...
No. For this listed entity, I mean, EV charging is not a major business. But yes, on the infrastructure, which is needed for EV, we keep supporting. So we have products like Ringman units and all, which goes in the EV charging infrastructure. I mean the infrastructure behind the EV, not the charge, but the infrastructure behind the EV.
And. The next question is from the line of Nikhil Jain from Galaxy International.
Just a couple of questions. So on the -- you mentioned about the smart meter opportunity of RDSS opportunity. I wanted to know in what all specific areas does Schneider play, and so what is the part of the total opportunity that Schneider can actually cater to one? And the second question is, in the current order book of INR 1,100-odd crores. So how much is contributed? Is there a smart meter related orders a significant part of it or they have not started to trickle and you expect them to come, let's say, by the end of this year or next year or something like that?
Yes. I need to probably refresh your view about the scope of the listed entity, the scope of the listed entity is medium voltage and transformer and smart meter doesn't form and the part of the scope. So it's calculated by other entities of Schneider not the listed entity.
Okay. So you don't do anything on the -- related to the smart meter installation or manufacturing or anything like that, right?
We do the back end integration at the grid level. We are not doing in the smart metering as a meter. But at a grid level, the integration is done by us, That's what we do.
The next question is from the line of Sanjay Kohli from Goldstone Capital.
Congratulations on a good quarter. Question is on the market opportunity on your ETAP platform, and if you can enlighten us on the competitive landscape in this area?
Yes, I didn't get your question. Can you repeat what...
[indiscernible] The expert platform, which you introduced, what is the market opportunity that you have identified? If you can give us a number and what sort of competitive landscape are you facing?
EcoStruxure transformer export is a new solution on the digital side to give the digitized solution for the transformer industry and to ensure the OL Issues. It's not something and new market. It's capturing the market with a new despite solution. and as we recently launched and he's got a very good traction from the industry side on that. But more than that, as this and we and not disclose.
The next question is from the line of Sanjay Satpathy from Ampersand Capital.
It is Ampersand Capital. Sir, thanks a lot for the opportunity and congratulations once again, It was a very strong set of results. So just wanted to ask you on this gross margin, we saw a significant shift in your gross margin from quarter 4 onwards and that happened -- that conceit with global logistics and supply chain kind of stabilizing and cheap shortage, et cetera, to kind of getting -- coming to an end. So my question is that, should we kind of look at this as a bit of a new normal because all those supply chain issues are behind you?
I would say we have fully stabilized completely, to be honest. I think -- I mean, as you know, I mean, still electronics, if you talk to anybody globally, they would say that it is coming back to normal, not fully normal. So electronics is one area where I would still say it would take a couple of quarters more for us to declare that we are fully normal.
But overall, if you see, yes, definitely, there is a positive trend and metal prices have been quite stable. I think if you look at the last 6 months, metal prices have been quite stable. So that's a positive rate has normalized quite a bit. I think that's the positive. Electronics coming back to normal, not fully normal yet. I think it will take a couple of more quarters to be very candid.
Next question is on this order inflow, which is going up some 20-odd percent. So is the current focus on getting as much order as quickly as possible? Or it is more of a profitable order with better working capital with collection visibility. So how -- what are the priorities right now in terms of getting orders because of the legacy that Schneider has seen.
I think we are going to keep the house safe. That's the first priority. So collection will remain the top focus. Cash will remain the top and There's no second thoughts about that. So subject to that, keeping it safe, not taking unnecessary risk, I think -- but there is enough and more to do in the market today even with this as we have been speaking. So I don't see there is essentially a choice, right now , and of course, we need to be conscious about what we do, keeping the cash as a top focus, but that also leaves us with enough trade today and the way the macro is.
And sir, last thing, if I can ask, considering the kind of turnaround you have seen, of course, you are already starting this...
Mr. Sasaki, may we request that you return to the question. The next question is from the line of Manish Goyal from [indiscernible] Wealth Managers.
And very congratulations on maintaining the strong growth momentum. Now probably we and beyond the turnaround story. Nice to hear after a long time. So just a few questions on -- related to what was answered earlier on RDSS. So we did mention that we are into backward integration. So ideally, what it means is that as the implementation of smart meters increase, and you probably see increasing demand for the software solutions related to AMI advanced meeting Infrastructure on one side and on the other side for the digital products and the transactional products. Am I right?
That's right, Manish. -- and good to talk to you after wise, I think Yes, you are right. I think that there will be a pull-through effect, as you rightly said. So for example, the relays which we do within the listed entity that there will be going on that. There will be a pull-through of the heading systems, which you said, which is what integrates the smart meter, and that's where we play through our solution center, which is there in the listed entity. So those are the kind of things which are associated. As I said earlier, the [indiscernible] , we do it in and the integration [indiscernible] .
So in a related question, so are we probably tying up with any AMI providers and probably while they are bidding, we are probably committed towards certain solution offering or we probably come at a later stage.
And -- I mean, and it's and to do a pre-bid and lock our future because I think we keep our options open. But yes, I mean, we work with most of the leading players, if I...
Okay. and is it possible to get the and related questions...
Sorry this is a Wrap Mr goyal.
Just man related question.
Let him finish that.
Yes. So on -- maybe like as we are progressing towards, like, if you can share how are the digital products revenue share and the automation-related solution revenue share? How is it moving? -- if any number you can share on?
Manish, [indiscernible] That I cannot say what was the exact mix, but I will say that a focus area now, we are trying to make our all offers digitally connected so that -- and if you ask me now almost on the offering side, 70%, 75% offers are digitally enabled, and we are focusing to make use 100% digitally enabled. So except the few of the offers, and that s digitally unable. That's the reason and the direction..
And last 2 housekeeping questions. We have seen increase in other expenses Y-o-Y. I understand there was some write-back last year in this quarter, but maybe if you -- is there any certain product related or any onetime item which is there or it's probably normalized on the other expense side? -- and maybe if you can share the breakup of order inflow and order book as always.
So Manish, on the other expenditure side, they are no abnormal items. But yes, there's a few of the provisions coming on account of the and the ECL running. That's the one reason. -- and secondly, we [indiscernible] the travel because we are focusing on the order book and the exhibition focusing. So some of the travel side have increased and the rest of like the percentage related expenditure and the and some of the expenditures and the ratio of the sales -- that's the major reason to come up on the expenditure no major abnormality is there. [indiscernible] . And if we're talking about the order intake breakup. So order intake breakup and equipment is 43%. Project is 23%, transactional 20%; and services, 14%. -- and if you ask me the order backlog breakup again, transitional is 18%. Services is 16%. Equipment is 47% and project is 19%.
And last, in the IG, what is the order inflow for this quarter? Last question?
IG order flow is almost INR 900 crores for this quarter...
INR 990 crores.
INR 90 and so...
INR 90 crores, INR 90 crores, yes.
The next question is from the line of Suraj Malo from Catamaran.
Sir, I just wanted to understand the Electrical and Automation business that has been acquired. Of that business, how much is a low voltage and how much is Medium voltage like the portion relevant to the listed entity?
I think that's outside the scope of the listed entity. So we won't comment and because that's not in the preview.
But eventually, all the medium voltage business that will be under Schneider Electric Infrastructure listed and
today, I mean, we have it in 2 places. So again, I can't comment on this and event. That's the status today. So something has come as part of the acquisition that stays there.
Okay. So that's in the private entity. India Schneider Electric and India Limited.
It is part of private Limited. That's correct and -- just to add management is working on the integration, and we are trying to just bring in all the businesses under the table is of one place. That's the reason is. But strategically, as of now, it's still under the integration part. So as and when this development will come, will come in the public comment.
The next question is from the line of Mudit Kabra.
Can we have the export revenue breakup for this quarter, Q1, and also to and identify and territory regions.
Mudit, usually,we don't do the directly, but and export sale is around INR 250 crore and INR 28 crores for the quarter. But it is immediately in some of the greater Asia region and some of the Europe side.
Okay. And sir, do we see any sort of normalization trend coming in the automation segments in the coming quarters? Or any like that happening in and term.
When do we talk in automation segment, it's about the product portfolio that we are carrying or something and automotive industry.
That is from the line of Sanjay Satpathy from Amparo Capital.
Yes, sir, I wanted to give a sense that now that the turnaround is kind of visible to your parent company. So what all things can now happen because one is that your CEO position, of course, is to be filled. But I was just trying to get a sense that will there be some kind of accelerated investment through your company considering the kind of potential that you have shown to them? Any thought on the big picture level?
As I said earlier, I think the macro looks good. So -- and I mean, we don't see any reason why the growth journey will not continue. So -- and you have already seen that we have announced the Calera facility and all of that. So -- so that looks good. You also heard and say earlier that we do have some rooms available in our current facilities also to grow. So that's a continuous exercise. I think we will keep doing it, and we will be agile to the market to see as we can do. I mean, and not that we need to put a big bank CapEx at this stage. I mean, we still have rooms to do more.
Understood. Understood. And hopefully, your CEO position will be filed soon, and you will come up with your medium and long-term plan is very, very soon.
Will be agile and open, as I said to this, and we will take a call. We will not let any opportunity go because we are not ready.
There are no further questions, I now hand the conference over to Mr. Mudit Kabra for his closing comments.
Thanks, Hasan. We thank the management of Schneider Electric for giving us an opportunity to host this call. We also thank all the investors and the analysts for joining this call. Any closing remarks, sir?
I would like to thank to everyone who have joined this call. We, as a team, thoroughly , enjoyed all the interaction. Have a good word, ladies and gentlemen. Thank you.
Thank you. Have a good day.
Thank you management team. Ladies and gentlemen, on behalf of Elara Securities Private Limited, that concludes this conference call. We thank you for joining us, and you may now disconnect your lines. Thank you.