MIRA
INFORM REPORT
|
Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE INFRASTRUCTURE LIMITED |
|
|
|
|
Registered
Office : |
H Block 1st Floor Dhirubhai Ambani Knowledge City Navi
Mumbai-400710 Maharashtra |
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.10.1929 |
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|
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|
Com. Reg. No.: |
11-001530 |
|
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|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2449.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1929PLC001530 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR16295G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2273R |
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|
Legal Form : |
Public Limited Liability Company. The Company shares are listed on
stock Exchange |
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|
Line of Business
: |
Distribution of power Generation of power contracting and computer
services. |
|
|
|
|
No. of Employees
: |
5539 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (77) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
Maximum Credit Limit : |
USD 600000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a part
of Reliance Group one of country’s premises industrial house. It is a well
established and a reputed company having good track. Financial position of
the company is sound. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. Company can be
considered good for normal business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number name and date.
ECGC Country Risk Classification List – April 1 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
H Block 1st Floor Dhirubhai Ambani Knowledge City Navi
Mumbai-400710 Maharashtra India |
|
E-Mail : |
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|
Website : |
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|
|
|
Corporate Office : |
BSES House Santacruz
(East) Mumbai - 400 055 Maharashtra |
|
Tel. No.: |
91-22-26154284 |
|
Fax No.: |
91-22-26154291 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Power Stations
: |
Dahanu
Power Station BSES Nagar Dahanu
Road - 401602 Thane, Maharashtra, India Opposite Sancoale
Industrial Estate, Zuarinagar- 403 726, Sancoale Mormugao Goa, Maharashtra,
India Samalkot Power Station Industrial
Development Area, Peddapuram Mandal, Samalkot- 533 440 Andhra Pradesh, India Wind Farm Near Almangala-
577 558, Chitradurga, District Karnataka, India |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Anil D.
Ambani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Satish Seth |
|
Designation : |
Vice Chairman |
|
|
|
|
Name : |
Mr. S C Gupta |
|
Designation : |
Director
(Operations) |
|
|
|
|
Name : |
Mr. V P Malik |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S L Rao |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Leena
Srivastava |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Lalit Jalan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Shenoy |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
663378 |
0.25 |
|
|
126965268 |
47.65 |
|
|
127628646 |
47.90 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
127628646 |
47.90 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
10552952 |
3.96 |
|
|
1661196 |
0.62 |
|
Central
Government / State Governments |
77001 |
0.03 |
|
|
46238774 |
17.35 |
|
|
42153462 |
15.82 |
|
|
100683385 |
37.79 |
|
|
|
|
|
|
7169871 |
2.69 |
|
|
|
|
|
|
27845612 |
10.45 |
|
|
1444514 |
0.54 |
|
|
1660265 |
0.62 |
|
|
1660265 |
0.62 |
|
|
38120262 |
14.31 |
|
Total Public shareholding (B) |
138803647 |
52.10 |
|
Total (A)+(B) |
266432293 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
|
|
|
Public |
987969 |
-- |
|
Total (A)+(B)+(C) |
267420262 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up toBUSINESS DETAILS
|
Line of Business : |
Distribution of power generation of power Contracting and computer
services. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
5539
(Approximately) |
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Bankers : |
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Facilities : |
Security: 1. Non Convertible Debentures are
secured on Company’s certain fixed assets present and future by way of a first
charge ranking pari passu with the charges created in favour of the Company’s
existing and proposed lenders. 2.
Working capital loans are secured by way of first
charge on hypothecated stock book debts and other current assets and lien on
mutual fund units of the Company.
*Repayable within next 12 months Rs. 3500.000 millions (Rs. 28971.300
millions) |
|
|
|
|
Banking
Relations : |
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
|
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
|
|
|
Subsidiaries : |
v
Reliance Infraprojects Limited
(RInfL) v
Reliance Power Transmission Limited
(RPTL) v
Western Region Transmission
(Gujarat) Private Limited (WRTG) v
Western Region Transmission (Maharashtra)
Private Limited (WRTM) v
Reliance Infraventures Limited
(RInvL) v
BSES Kerala Power Limited (BKPL) v
Noida Global SEZ Private Limited
(NGSPL) v
Reliance Energy Trading Limited
(RETL) v
Mumbai Metro One Private Limited
(MMOPL) v
Parbati Koldam Transmission Company
Limited (PKTCL) v
Delhi Airport Metro Express Private
Limited (DAMEPL) v
CBD Tower Private Limited (CBDTPL) v
Tulip Realtech Private Limited
(TRPL) v
Reliance Energy Generation Limited
(REGL) v
Reliance Energy Limited (REL) v
Reliance Property Developers
Private Limited (RPDPL) v
DS Toll Road Limited (DSTL) v
NK Toll Road Limited (NKTL) v
SU Toll Road Private Limited (SUTL)
v
TD Toll Road Private Limited (TDTL)
v
TK Toll Road Private Limited (TKTL)
v
GF Toll Road Private Limited (GFTL) v
KM Toll Road Private Limited (KMTL)
w.e.f. February 4 2010 v
PS Toll Road Private Limited (PSTL)
w.e.f. February 9 2010 v
Reliance Goa and Samalkot Power
Limited (RGSPL) v
Reliance Cementation Private
Limited (RCPL)w.e.f. September 5 2009 v
Reliance Cement and Infra Private Limited
(RCIPL) w.e.f. September 5 2009 v
Reliance Cement Corporation Private
Limited (RCCPL) w.e.f. September 5 2009 v
Reliance Cement Works Private
Limited (RCWPL) w.e.f. September 5 2009 v
Reliance Airport Developers Private
Limited (RADPL) w.e.f. September 25 2009 v
Latur Airport Private Limited
(LAPL) w.e.f. September 29 2009 v
Baramati Airport Private Limited
(BAPL) w.e.f. September 29 2009 v
Nanded Airport Private Limited
(NAPL) w.e.f. September 29 2009 v
Yavatmal Airport Private Limited
(YAPL) w.e.f. September 29 2009 v
Osmanabad Airport Private Limited
(OAPL) w.e.f. September 29 2009 |
|
|
|
|
Associates : |
v
Reliance Power Limited (RePL) v
Reliance Infrastructure Engineers
Private Limited (RIEPL) v
Reliance Infrastructure and
Consultants Limited (RICL) v
Urthing Sobla Hydro Power Private
Limited (USHPPL) v
Rosa Power Supply Company Limited
(ROSA) v
Sasan Power Limited (SPL) v
Vidarbha Industries Power Limited
(VIPL) v
Maharashtra Energy Generation
Limited (MEGL) v
Chitrangi Power Private Limited
(CPPL) v
Tato Hydro Power Private Limited
(THPPL) v
Siyom Hydro Power Private Limited
(SHPPL) v
Jharkhand Integrated Power Limited
(JIPL) v
Coastal Andhra Power Limited (CAPL)
v
Reliance Coal Resources Private
Limited (RCRPL) v
JR Toll Road Private Limited (JRTL)
w.e.f. December 09 2009 v
Mumbai Metro Transport Private
Limited (MMTPL) w.e.f. October 29 2009 v
Metro One Operation Private
Limited(MOOPL) w.e.f. April 1 2009 |
|
|
|
|
Joint Ventures : |
v
BSES Rajdhani Power Limited (BRPL) v
BSES Yamuna Power Limited (BYPL) v
Tamil Nadu Industries Captive Power
Company Limited (TICAPCO) v
Utility Powertech Limited (UPL) |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 3500.000 Millions |
|
8000000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
1550000000 |
Redeemable Preference Shares |
Rs. 10/- each |
Rs. 15500.000 Millions |
|
42000000 |
Unclassified Shares |
Rs. 10/- each |
Rs. 420.000 Millions |
|
|
Total |
|
Rs.
19500.000 Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
228425832 |
Equity Shares |
Rs. 10/- Each |
Rs. 2284.300 Millions |
|
Add : |
|
|
|
|
19600000 |
Equity Shares on conversion of warrants |
|
Rs. 196.000 millions |
|
Less: |
|
|
|
|
753505 |
Share Bought Back |
|
Rs 7.500 Millions |
|
|
Total |
|
Rs. 2472.800 Millions |
Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
226023767 |
Equity Shares |
Rs. 10/- Each |
Rs.2260.300 Millions |
|
Add: 19600000 |
Equity Shares on conversion of warrants |
|
Rs. 196.000 Millions |
|
Add: |
Forfeited Shares – Amount originally paid up |
|
Rs. 0.400 Million |
|
Less: |
|
|
|
|
753505 |
Shares bought back |
|
Rs. 7.500 Millions |
|
|
Total |
|
Rs. 2449.200 Millions |
Notes :
Of the above Equity Shares –
138400
Shares were allotted as fully paid up pursuant to a contract without payment
being received in cash
8096070
Shares were allotted as fully paid up Bonus Shares by capitalization of
Rs.0.200 million from Securities Premium Account and Rs. 80.800 millions from
General Reserve
836790
Shares were allotted on conversion of 7% `B' Class Convertible Debentures
56100
Shares were allotted on conversion of 8.5% `F' Class Convertible Debentures
45992760
Shares were allotted on conversion of 12.5% Fully Convertible Debentures
53987736
Shares were allotted on conversion of 15% Fully Convertible Debentures
26041650
Shares were issued by way of Global Depository Receipts (GDR) through an
international offering in U. S. Dollars. [Out of which outstanding GDRs as at
March 31 2010 - 323359 (460906)]
31681580
Shares were issued by way of GDRs on conversion of Foreign Currency Convertible
Bonds (FCCB)
85886850
(66286850) Shares were issued on preferential allotment of equity / warrants.
810057
Shares were issued on Merger with Reliance Energy Ventures Limited
11260000
(10506495) Shares were bought back
AS ON 22.12.2010
Authorised Capital : Rs. 19500.000
millions
Issued Capital and Subscribed Capital : Rs. 2674.203 millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2449.200 |
2260.700 |
2356.200 |
|
|
2]Equity Warrants
Issued |
5410.800 |
7834.900 |
7834.900 |
|
|
3] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
143661.900 |
108978.800 |
106678.500 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
151521.900 |
119074.400 |
116869.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14750.000 |
18483.300 |
11250.000 |
|
|
2] Unsecured Loans |
26399.000 |
54838.500 |
38638.800 |
|
|
TOTAL BORROWING |
41149.000 |
73321.800 |
49888.800 |
|
|
DEFERRED TAX LIABILITIES |
1577.100 |
1939.500 |
2485.100 |
|
|
|
|
|
|
|
|
TOTAL |
194248.000 |
194335.700 |
169243.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
34771.400 |
33401.700 |
30675.800 |
|
|
Capital work-in-progress |
6022.700 |
5644.200 |
5689.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
100195.700 |
121471.000 |
77264.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2691.500
|
4406.800
|
3002.900
|
|
|
Sundry Debtors |
17429.300
|
15233.300
|
13514.100
|
|
|
Cash & Bank Balances |
3018.200
|
2510.100
|
876.500
|
|
|
Other Current Assets |
14212.600
|
10120.500
|
6455.400
|
|
|
Loans & Advances |
82193.700
|
55765.600
|
62371.600
|
|
Total
Current Assets |
119545.300
|
88036.300 |
86220.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19229.100
|
16186.400 |
11068.600 |
|
|
Other Current Liabilities |
37238.100
|
30368.600
|
15126.700
|
|
|
Provisions |
9819.900
|
7662.500
|
4410.700
|
|
Total
Current Liabilities |
66287.100
|
54217.500 |
30606.000 |
|
|
Net Current Assets |
53258.200
|
33818.800
|
55614.500
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
194248.000 |
164335.700 |
169243.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
63677.600 |
71831.000 |
49198.700 |
|
|
|
Income of EPC and Contract Division |
35219.200 |
25134.300 |
14443.800 |
|
|
|
Other Income |
10183.800 |
12622.600 |
11369.500 |
|
|
|
TOTAL (A) |
109080.600 |
109587.900 |
75012.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Electrical Energy Purchased |
33219.400 |
42539.900 |
24876.900 |
|
|
|
Cost of Fuel |
12198.300 |
11667.800 |
10155.200 |
|
|
|
Tax on |
1541.300 |
1529.600 |
1315.800 |
|
|
|
Expenditure of EPC and Contract Division |
32624.900 |
23392.300 |
13357.100 |
|
|
|
Administrative Expenses |
10406.800 |
12770.200 |
8473.000 |
|
|
|
TOTAL (B) |
89990.700 |
91899.800 |
58178.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST TAX DEPRECIATION AND AMORTISATION (A-B) (C) |
19089.900 |
17688.100 |
16834.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2922.100 |
3305.000 |
3087.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX DEPRECIATION AND AMORTISATION (C-D) (E) |
16167.800 |
14383.100 |
13746.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3198.400 |
2448.800 |
2229.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12969.400 |
11934.300 |
11517.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1452.500 |
545.500 |
670.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
11516.900 |
11388.800 |
10846.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6832.000 |
7037.600 |
3592.800 |
|
|
|
|
|
|
|
|
|
|
Balance of Profit Transferred on Amalgamation |
0.000 |
711.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
Statutory Reserve and Other Appropriation |
169.600 |
145.500 |
133.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10000.000 |
10000.000 |
5000.000 |
|
|
|
Proposed / Interim Dividend |
1738.600 |
1576.900 |
1477.300 |
|
|
|
Dividend On Equity Shares |
0.000 |
(18.500) |
0.000 |
|
|
|
Corporate Tax on Dividend |
97.800 |
268.000 |
251.100 |
|
|
|
Transfer to Debenture Redemption Reserve |
358.300 |
333.500 |
539.900 |
|
|
BALANCE CARRIED
TO THE B/S |
5984.600 |
6832.000 |
7037.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Miscellaneous Income |
426.900 |
933.500 |
299.600 |
|
|
TOTAL EARNINGS |
426.900 |
933.500 |
299.600 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Fuel Coal |
2824.400 |
2047.900 |
1693.100 |
|
|
|
Stores & Spares |
97.600 |
74.000 |
41.700 |
|
|
|
Capital Goods |
124.700 |
263.500 |
200.300 |
|
|
|
Others |
15262.800 |
9623.800 |
2552.800 |
|
|
TOTAL IMPORTS |
18309.500 |
12009.200 |
4487.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share |
51.11 |
49.45 |
46.85 |
|
QUARTERLY RESULTS
(
In Millions)
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
22280.400 |
24391.000 |
26176.400 |
23298.100 |
|
Total Expenditure |
19746.000 |
20228.700 |
23706.200 |
20687.700 |
|
PBIDT (Excl OI) |
2534.400 |
4162.300 |
2470.200 |
2610.400 |
|
Other Income |
1804.300 |
(507.900) |
1020.700 |
2814.800 |
|
Operating Profit |
4338.700 |
3654.400 |
3490.900 |
5425.200 |
|
Interest |
613.100 |
600.400 |
582.000 |
629.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
3725.600 |
3054.000 |
2908.900 |
4796.100 |
|
Depreciation |
768.600 |
825.300 |
816.700 |
723.500 |
|
Profit Before Tax |
2957.000 |
2228.700 |
2092.700 |
4072.600 |
|
Tax |
494.500 |
523.800 |
435.000 |
(911.900) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
2462.500 |
1704.900 |
1657.200 |
4984.500 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
2462.500 |
1704.900 |
1657.200 |
4984.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.56
|
10.39
|
14.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.37
|
16.61
|
23.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.40
|
13.06
|
9.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
8.56
|
0.02
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.72
|
1.07
|
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.62
|
2.82 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL PERFORMANCE
During the year the Company earned an income of Rs.
109080.000 millions against Rs. 10959 millions in the previous year. The
Company earned Profit after tax of Rs. 11520.000 millions as compared to Rs.
11390.000 millions in the previous year. Shareholders equity (Net worth)
increased to Rs. 151520.000 millions from Rs. 119070.000 millions in the
previous year.
REORGANISATION OF VARIOUS BUSINESSES
The Scheme of Arrangement envisaging transfer of various
operating divisions of the Company viz. Dahanu Thermal Power Station division Goa
and Samalkot Power Stations division Power Transmission division Power
Distribution division Toll Roads division and Real Estate division to its
respective resulting six wholly owned subsidiaries has since been sanctioned by
the Hon’ble High Court of Judicature at Bombay on July 24 2009 subject to the
Company receiving the requisite approvals.
The order of the Hon’ble High Court of Judicature at Bomaby
has been filed with the Registrar of Companies on September 14 2009. However
the Scheme will be effective only on receipt of requisite approvals which are
awaited.
OVERALL REVIEW
Reliance Infrastructure is India’s leading private sector
Infrastructure Company with aggregate estimated group revenues of Rs.
244930.000 millions (US$ 5.5 billion) and total assets of Rs. 190570.000
millions (US$ 4.2 billion). Reliance Infrastructure is ranked amongst India’s
leading private companies on all major financial parameter including assets
sales profits and market capitalization.
The highlights of performance of the Company for the year
2009-10 are:
·
Total
Income of Rs. 109080.000 millions (US$ 2.4 billion) as against Rs. 109590.000
millions in the previous financial year.
·
Cash
Profit of Rs. 14350.000 millions (US$ 320 million) against Rs. 13290.000
millions in the previous financial year.
·
Net
Profit of Rs. 11520.000 millions (US$ 256 million) against Rs. 11390.000
millions in the previous financial year
·
Cash
Earnings Per Share for the year of Rs. 59 (US$ 1.3) against Rs. 60 in the
previous financial year.
·
Earnings
Per Share (EPS) of Rs. 51 (US$ 1.1) against Rs. 49 in the previous financial
year.
·
In
order to optimize shareholder value the Company continues to focus on in-house
opportunities as well as selective large external projects for its Engineering
Procurement and Construction (EPC) Division. The EPC Division had an order book
position of Rs. 192500.000 millions (US$ 4.3 billion) as on March 31 2010.
FINANCIAL REVIEW
Reliance Infrastructure’s total income for the year ended
March 31 2010 was to Rs. 109080.000 millions (US$ 2.4 billion) compared to Rs.
109590.000 millions (US$ 2.4 billion) in the previous year.
The total income includes earnings from sale of electrical
energy of Rs. 63680.000 millions (US$ 1.4 billion) as compared to 71830.000
millions (US$ 1.6 billion) recorded last year. The sale of electrical energy
includes income of Rs. 3830.000 millions (US$ 85 million) and Rs. 2830.000
millions (US$ 63 million) from the Samalkot Power Station (SPS) and the Goa
Power Station (GPS) respectively.
The turnover of EPC business was Rs. 35220.000 millions (US$
740 million) against Rs. 24990.000 millions (US$ 569 million) in the previous
year.
During the year interest expenditure reduced to Rs. 2920.000
millions (US$ 65 million) as compared to Rs. 3300.000 millions (US$ 74 million)
in the previous year The Company had in order to reflect the true value of its
prime assets revalued the assets of its Dahanu Power Station as at April 1 2003
by Rs.. 7520.000 millions (US$ 167 million). In view of this the depreciation
on such revalued assets is higher by Rs. 540.000 millions (US$ 12 million) and
the same has been adjusted by withdrawing equivalent amount from the general
reserve which is credited to the profit and loss account.
The generation plants – Samalkot power station Goa power
station and the wind farm in Karnataka are all eligible for tax holiday under
Section 80IA of the Income Tax Act 1961 for a total of 10 consecutive years out
of 15 yea Hence the effective tax rate for the Company as a whole is governed
by Section 115JB of the Income Tax Act 1961.
Upon the scheme of arrangement between the Company and its 6
resultant subsidiaries becoming effective the Company has decided to transfer
its investments in equity shares of BSES Kerala Power Limited and Reliance Goa
and Samalkot Power Limited (SPVs) for an aggregate valuation of Rs. 10950.000
millions carried out by KPMG as a result of which SPVs owning and operating 433
MW generation plants comprising of 220 MW Samalkot Power plant in Andhra Pradesh
165 MW power plant in Kerala and 48 MW Power plant in Goa shall become wholly
owned subsidiaries of Reliance Power Limited. The objective of the above
transaction is to bring the entire power generation portfolio under Reliance
Power Limited. All three plants have significant potential for capacity
expansion.
The corporate tax liability for the year was Rs. 1450.000
millions (US$ 32 million) compared to Rs. 550.000 millions (US$ 12 million) in
the previous year.
Cash profit for the year was Rs. 14350.000 millions (US$ 320
million) compared to Rs. 13290.000 millions (US$ 296 million) in the previous
year.
Operating profit i.e. profit before depreciation interest
and tax (PBDIT) increased to Rs. 19090.000 millions (US$ 425 million) during
the year from Rs. 17690.000 millions (US$ 394 million) in the previous year.
Net profit for the year was Rs. 11520.000
millions (US$ 256 million) against Rs. 11390.000 millions (US$ 254 million) in
the previous financial year.
At its meeting held on April 29 2010 the
Board approved payment of interim dividend of Rs. 7.10 per share aggregating to
a pay-out of Rs. 1740.000 millions (US$ 39 million) (excluding dividend tax)
for the year ended March 31 2010.
The capital expenditure during the year was
Rs. 5600.000 millions (US$ 125 million) primarily on account of expenditure
incurred on modernizing and strengthening of the distribution network.
Total gross assets increased during the year
to Rs. 74280.000 millions (US$ 1.7 billion).
The promoter AAA Project Ventures Private
Limited subscribed to 42.9 million share warrants convertible into equity for
further capital infusion of approximately Rs. 43000.000 millions (US$ 957
million) into the Company. Upon converion the Company’s net worth would rise to
over Rs. 160000.000 millions (US$ 3.6 billion) and consequently increase the
borrowing capability to Rs. 320000.000 millions (US$ 7.1 billion) even at a
conservative debt-equity ratio of 2:1.
During the year 19.600 millions equity
shares were allotted against the aforesaid convertible warrants issued to them.
The Company ranks among leading Indian
private sector companies in terms of net worth. As on March 31 2010 the net
worth of the Company stood at Rs. 151520.000 millions (US$ 3.4 billion).
EPC BUSINESS
OVERVIEW
The Company undertakes Engineering Procurement and
Construction (EPC) contracts of projects in various fields like power
generation transmission and distribution. The EPC Division mainly focuses on
the power sector projects but has recently ventured into non-power sector by
taking up a few projects in the road sector. The division is equipped with the
requisite expertise and vast experience to undertake the EPC works and execute
them successfully on standalone basis. It employs state of the art technology in
engineering design and project management to execute the projects.
The division continued to perform well during 2009-10 with
the order book position of Rs. 192500.000 millions as on March 31 2010. The
performance would be further enhanced as large projects are in the final stages
of ordering.
Turnover for financial year 2010 is at Rs. 35220.000
millions registering an increase of 45 per cent as against Rs. 24990.000
millions on March 31 2009 while Profit was Rs. 2840.000 millions as against Rs.
2050.000 millions for 2008-09 an increase of 38 per cent.
In Financial Year 2010 EPC Division has been
certified for the ISO 9001: 2008 systems by M/s Bureau Veritas. The Division
was awarded in the “Social Upliftment” Category by Construction Industry
Development Council (Established by Planning Commission and Construction
Industry) during the 2nd Vishwakarma Awards Ceremony. The Division also
received the “Amity HR Excellence” award from Amity International & Global
Business School.
AWARDS AND RECOGNITIONS
1.
Dahanu Power Station
Operational Performance Awards
·
IMC Ramakrishna Bajaj National Quality Trophy 2009
(RBNQA)
·
Golden Peacock National Quality Award - 2009
·
CII - National Award for Excellence in Energy
Management – 2009
·
Century International Diamond Quality ERA Award
·
“Executive Talent Search-2009” by TMA
·
Viswakarma Rastriya Puraskar from Ministry of
Labour & Employment GOI (Four Employees)
·
Prime Minister’s Shram Shree - Award 2007 for 1
employee.
·
CII- National Award for Excellence in Water
Management 2009 (Within the fence).
·
“Annual best performance award - Best HR practices
2009 “ by Tarapur Management Association
Environmental Awards
·
Greentech Environment Excellence Award 2009
Safety Awards
·
“Greentech Safety Award – 2009”
·
National Safety Awards -2007 (NSA-2007) for lowest
accident frequency rate and accident free period by Ministry of Labour and
Employment.
·
Safety Innovation Award 2009 by the Institution of
Engineers (India).
Samalkot Power Station
·
Greentech Environment Excellence Award 2009 in Gold
Category
·
Andhra Pradesh State Governor Gold medal for Blood
Donation Initiatives by SPS under Red Cross Society Scheme.
Goa Power Station
·
8th Annual Greentech Safety Award 2009
·
10th Annual Greentech Environment Excellence Award
2009
BSES Kerala Power Limited.
·
Second prize in Safety award by Goernment of Kerala
for the year 2009
·
Award on “Energy Conservation” by Govt. of Kerala
for the year 2009.
Mumbai Transmission Division
·
Further to stream line the procedures we have taken
up the implementation of IMS for O and M covering OHSAS 18001-2007 and EMS
14001-2004 in addition to ISO 9001-2008. BVQI certified the same in March 2010.
·
Achieved Par Excellence Award in the SGA Activity
in Chapter Convention of Quality Circle (CCQC) Mumbai and National Convention
of Quality Circle (NCQC) Bangalore for problem solving “Delay in Retrieval of
Available data or records”.
AUDITED FINANCIAL RESULTS
FOR THE YEAR ENDED 31.03.2011
( in millions)
|
Sr. No. |
Particular |
Unaudited |
|
|
|
Quarter
ended 31.03.2011 |
|
1. |
Gross
Sales / Income |
|
|
|
a. Net Sales / Income from Operations |
58062.100 |
|
|
b. Other Operating Income |
4191.600 |
|
|
c. Income From EPC and Contract Business |
33892.200 |
|
|
Total
Income |
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
a) Cost of Electrical Purchased |
27243.100 |
|
|
b) Cost of Fuel |
13011.400 |
|
|
c) Tax on Sale of Electricity |
1343.500 |
|
|
d) Cost of Materials and Sub-contract Charge |
28371.600 |
|
|
e) Employee Cost |
7621.800 |
|
|
f) Depreciation |
3134.100 |
|
|
g) Other Expenditure |
6777.300 |
|
|
h)
Total Expenditure |
87502.800 |
|
|
|
|
|
3. |
Profit From Operations before Other Income Interest and
Exceptional Items (1-2) |
8643.100 |
|
|
|
|
|
4. |
Other Income |
5131.900 |
|
|
|
|
|
5. |
Profit Before Interest and Exceptional Items (3+4) |
13775.000 |
|
|
|
|
|
6. |
Interest |
2424.500 |
|
|
|
|
|
7. |
Profit After Interest but before Exceptional Items (5-6) |
11350.500 |
|
|
|
|
|
8. |
Exceptional Items |
-- |
|
|
|
|
|
9. |
Profit from Ordinary Activities before Tax (7+8) |
11350.500 |
|
|
|
|
|
10. |
Tax Expense |
541.400 |
|
|
|
|
|
11. |
Net Profit from Ordinary Activities after Tax (9-10) |
10809.100 |
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
-- |
|
|
|
|
|
13. |
Net Profit for the period (11-12) |
10809.100 |
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of 10/- Each) |
2674.700 |
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
169181.600 |
|
|
|
|
|
16. |
Basic
and Diluted Earning Per Share (EPS) ()-Not Annualised |
|
|
|
a) Basic and diluted EPS before extraordinary items |
43.23 |
|
|
b) Basic and diluted EPS after extraordinary items |
40.51 |
|
|
|
|
|
17. |
Public
Shareholding |
|
|
|
-Number of Shares |
139791616 |
|
|
- Percentage of Shareholding |
52.27 |
|
|
|
|
|
18. |
Promoters
and Promoter Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- Number of Shares |
Nil |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
Nil |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
Nil |
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
- Number of Shares |
127628646 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
100.00 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
47.73 |
SEGMENT WISE REVENUE RESULTS
AND CAPITAL EMPLOYED UNDER
( in millions)
|
Sl. No. |
|
Particulars |
|
|
|
31.03.2011 |
||
|
|
|
||
|
1 |
|
Segment Revenue (Net of Excise & Other Taxes) |
|
|
|
|
|
|
|
|
|
- Electrical Energy |
60261.200 |
|
|
|
-
EPC
And Contracts Business |
35884.700 |
|
|
|
- Infrastructure Business |
0.000 |
|
|
|
|
|
|
|
|
Total |
96145.900 |
|
|
|
|
|
|
|
|
Less : Inter Segment Revenue (Net of Excise) |
-- |
|
|
|
|
|
|
|
|
Net Sales / Income
from Operation |
96145.900 |
|
|
|
|
|
|
2 |
|
Segment Results (Net Profit(+)/Loss(-) before Tax & Interest from each Segment) |
|
|
|
|
|
|
|
|
|
- Electrical Energy |
5527.500 |
|
|
|
-
EPC
And Contracts Business |
3731.000 |
|
|
|
- Infrastructure Business |
0.000 |
|
|
|
|
|
|
|
|
Total |
9258.500 |
|
|
|
|
|
|
|
|
Less :Interest |
(2424.500) |
|
|
|
Less : Interest Income |
3962.400 |
|
|
|
Net of Unallocable Income |
554.100 |
|
|
|
Net Profit (+) /
Loss(-) before Tax |
11350.500 |
|
|
|
|
|
|
3 |
|
Capital Employed (Segment Assets - Segment Liabilities) |
|
|
|
|
|
|
|
|
|
- Electrical Energy |
64945.600 |
|
|
|
-
EPC
And Contracts Business |
(4301.900) |
|
|
|
- Infrastructure Business |
0.000 |
|
|
|
- Unallocable Assets |
116031.400 |
|
|
|
|
|
|
|
|
Total |
176675.100 |
Notes:
1.
The Board has recommended a dividend of 7.20 per Equity Share for the year 2010-11.
2.
The final determination in the matter of Standby Charges
payable for the years 1998-99 to 2003-04 to The Tata Power Company Limited
(TPC) is pending before the Supreme Court for final hearing. The Company has so
far fully accounted the liability of
5156.000 millions as determined earlier by Maharashtra Electricity
Regulatory Commission (MERC).
3.
The final determination in respect of the claim by
TPC of 3238.700 millions along with
interest based on the Orders passed by MERC /Appellate Tribunal for Electricity
(ATE) towards difference in energy charge and minimum off take charges for
energy supplied by TPC at 220 kV interconnection
is pending before Supreme Court for final hearing. The Company has complied
with the interim order direction of depositing
250.000 millions with the Registrar of Supreme Court and providing a
Bank Guarantee of 99.800 millions.
4.
The Committee of Whole-time Directors at its
meeting held on February 25 2009 approved a Scheme of Restructuring envisaging
transfer of certain operating divisions of the Company. In view of inter alia
the considerable lapse of time of nearly 2 years and subsequent changes in the
business environment the proposal was no longer considered relevant and was
withdrawn on March 25 2011 with the approval of the Hon'ble Bombay High Court.
There is no impact on the profitability or business of the Company.
5.
During the quarter the Company received an
application from AAA Project ventures Private Limited (AAAPVL) for conversion
of 22550000 warrants into shares against the 23300000 warrants issued along
with the payment of balance amount of
15709.800 millions. The Company allotted 22550000 equity shares to
AAAPVL against conversion of said warrants. The balance 750000 warrants after
the said conversion have been cancelled and the sum of 174.200 millions being the 25% amount
received on such warrants is forfeited and the said amount has been credited to
Capital Reserve account.
6.
Pursuant to the sanction of the Hon'ble High Court
of Bombay of the scheme of amalgamation between Reliance lnfraprojects Limited
a wholly owned subsidiary and the Company Rlnfl has been amalgamated with the
Company with appointed date as April 1 2010. On account of the above
amalgamation Profit before tax for the quarter and year ended March 31 2011 of
the Parent Company is higher by 450.400
millions. However there is no impact of the same in the consolidated
financials.
7.
Information on investor complaints pursuant to
Clause 41 of the listing agreement for the quarter ended March 201 1: opening:
Nil; additions: 16; disposals: 16; closing: Nil.
8.
During the year Talcher - II Transmission Company
Limited North Karanpura Transmission Company Limited Reliance Sealink One
Private Limited HK Toll Road Private Limited DA Toll Road Private Limited
Ulility Infrastructure &Works Private Limited Reliance Concrete Private
Limited and Reliance Infrastructure Engineers Private Limited have become
subsidiaries / step-down subsidiaries of the Company. There is no material
impact on the financial results on account of the same.
9.
Ratios have been computed as under: Debt Service
Coverage Ratio = Earnings before interest and Tax I (Interest on Long Term Debt
+ Principal Repayment of Long Term Debt) interest Service Coverage Ratio =
Earnings before interest and Tax / interest on Long Term Debt
10.
There were no exceptional / extraordinary items
during the quarter and year ended March 31 2011.
11.
The aforesaid standalone and consolidated financial
results were reviewed by the Audit Committee of the Board at its meeting held
on May 26201 1 and subsequently approved by the Board of Directors on May 27
2011.
12.
Figures of the previous year have been regrouped I
reclassified wherever considered necessary.
WEB SITE DETAILS
HISTORY
Reliance Infrastructure, a part of Reliance
Group, is India's largest infrastructure company with turnover of over
Rs.156900.000 millions and market capitalization of over Rs. 244500.000
millions as on March 31, 2010.
Reliance Infrastructure Limited is India’s
leading utility company having presence in across the value chain of power
business i.e. Generation, Transmission, Distribution, EPC and Trading and the
largest infrastructure company by developing projects in all high growth areas
in infrastructure sector i.e. Roads, Highways, Metro Rails, Airports and
Speciality Real Estate.
Their presence spans across three verticals:
·
Engineering, Procurement and Construction
·
Energy
·
Infrastructure
Engineering,
Procurement and Construction
EPC offers a single point solution to the execution of power plants including project
engineering, procurement, construction and commissioning for its clients. The
world of tomorrow will feature abundant energy that will spark a million smiles
and dreams. Their EPC division is ushering this energy revolution with power
plant projects. Along with full service project advisory capabilities, they
manage power plants on a turnkey basis and provide industry specialist services
such as fuel management advice and fiscal advice. Their the turnover of the
division was Rs 5570.000 millions (US$ 120 million) and order book position of
over Rs 185300.000 millions (US$ 4 billion) as on June 30, 2010.
Energy
Their core competency in energy extends to generation, transmission,
distribution and trading. This comprehensive sphere of influence extends their
vision of a highly developed India within their realms. We distributed more
than 36 billion units of electricity to 30 million consumers and generate 941
MW of electricity from their power stations. Their transmission division is
developing 5 transmission projects, with total project outlay of Rs 66400.000
millions (US$ 1.4 billion).
Infrastructure
RInfra has a significant presence in the construction of roads, metros,
airports and real estate. Infrastructure is decidedly the most visible and important
form of development in a nation. They signify this with their 11 road projects
of 970 kms worth about Rs 120000.000 millions (US$ 2.6 billion). They are
currently implementing 3 metro rail projects in Mumbai and Delhi worth around
Rs 160000.000 millions (US$ 3.4 billion).In the real estate space, they are in
various stages of bidding/negotiation/planning with over 400 million sq. feet
of mixed use built up potential.
Enhancing Their
Legacy/ Carrying the Legacy
Their passion to excel in every endeavor emanates from the legacy of their
founder Late Shri Dhirubhai Ambani. His values and ideals stand with us as
they collectively seek to further develop the society, landscape and the nation
they are a proud part of. In the years ahead of them, they will keep
exploring the unknown in their quest for excellence.
Highlights for Company Profile
- One of the largest Indian business
conglomerate.
- Leading Private Utility Firm in
Transmission.
- Significant presence in EPC, Energy and
Infrastructure
NEWS
MEDIA RELEASE
Reliance
Infrastructure is ready for Monsoon.
· Action plan
to minimize down time during emergencies activated.
· Safety top
priority; especially during restoring normalcy.
· Safety switch
offs inevitable in water logged regions; threatening danger to installations at
Consumers premises.
· Follow Safety
Do’s & Don’ts meticulously, Company appeals to consumers.
· Contact Round
the clock Power Helpline 1800 200 3030 to report power supply interruptions and
untoward incidences during monsoon.
Mumbai, June 8,
2011: With the onset of monsoon, Reliance Infrastructure Limited (RInfra), the
largest suburban power distributor, is ready to meet any exigencies that may
arise during the monsoon.
Considering the
prevailing geographical and infrastructural conditions in Company’s licensed
distribution area, spread over the 384 Sq. Kms. in the Eastern and Western
suburbs, the Company has initiated a proactive action plan to meet requirements
arising out of various situations during monsoon, such as water logging, power
failures,
electrical shocks,
sparking, fire, etc. to minimize inconvenience to the consumers.
As a part of this
plan, consumers’ safety is being given a top priority. The Company, is
committed to ensure consumers’ safety first and for this may have to resort to
the Safety Switch Offs in a particular area, in case the water logging in that
particular area threatens danger to the installations at consumers’ premises,
such as substations, meter cabins, etc. as well as Company’s installations such
as transformers, mini pillars on roads, etc. Further, although the water
recedes in that particular area, Company will ensure safety of every
installation first, be it at consumers’ premises or Company’s own, before
restoring the power supply and awarding normalcy.
However, Company’s
proactive action plan also envisages measures to overcome such issues and
ensure its preparedness to meet any exigency arising during monsoon. The
Company has adopted several measures to minimize inconvenience to the consumers
and ensure safety of consumers, their installations as well as Company’s own
installations, which are being summarized as follows.
1.
Pre-monsoon checks and preventive maintenance of
equipments have been carried out.
2.
Dedicated Disaster Management Response Teams at
Central as well as Divisional levels have been formed. These teams are equipped
with various communication facilities like wire less communication equipments
such as Hot lines, Radio Frequency Walkie - Talkie sets to ease communication
during crisis.
3.
A total of 32 well trained disaster response teams
are in place.
4.
Adequate stock of essential spare parts, tools and
equipments including transformers, switchgears, etc. have been kept ready at 10
different locations spread over the area of supply which will be easily
accessible to the divisional teams for use.
5.
Adequate transportation equipped with emergency
repair kits, tools and safety wears is ready at all divisional offices and
other different strategic locations.
6.
2 no. special Motor Boats placed at strategic
locations for any emergencies.
7.
Necessary medical, administrative and material support
team and infrastructure have been defined and are in place to meet any
emergency.
This would help
Company in minimizing the response time towards power interruptions. The
Company, to ensure speedy registration of such incidences, has made special
arrangements at its Round O’clock Power Helpline 1800 200 3030. Consumers
can also log on to www.rinfra.com to register their complaints.
Meanwhile, in view
of the above, Reliance Energy urges to the power consumers to respond and
support Company’s efforts in achieving total safety by meticulously following
the safety Do’s and Don’ts given below.
Do’s:
1.
Ensure that your building’s Meter Cabin is
adequately protected from the water logging.
2.
Get entire wiring in your premises thoroughly
checked and tested by the Licensed Electrical Contractor.
3.
Put off the main switch in case there is water
logging or leakage observed in the meter cabin. Put on the main switch only on
ensuring that all faults have been rectified properly.
4.
In case sparking is noticed in Meter Cabins, Street
Light Poles and Distribution Pillars and / or there is an electric shock
through these installations, then in such matters please contact our Round
O’clock Power Helpline 1800 200 3030.
Don’ts:
1.
Do not touch any installations bare handed or
without using hand gloves, safety shoes or insulated platform.
2.
In case of sparking and/ or water leakages, do not
touch Street Light Poles, Distribution Pillars, and Meters in Cabin or any such
installations.
3.
Do not use electricity more than the sanctioned
load. This is especially applicable in case of the Temporary Connections.
Reliance
Infrastructure Limited
Reliance
Infrastructure Ltd, a part of Reliance Group, is India's largest infrastructure
company. As on March 31, 2010, the Reliance Group had total assets of over Rs
1,80,000 crore (US$ 39 billion), net worth of around of Rs 84,000 crore (US$ 19
billion), operating cash flow of over Rs 12,000 crore (US$ 2.7 billion), net
profit of over Rs 7,000 crore (US$ 1.6 billion) and zero net debt.
Reliance
Infrastructure Limited is India’s leading utility company having presence in
across the value chain of power business i.e. Generation, Transmission,
Distribution, EPC and Trading and the largest infrastructure company by
developing projects in all high growth areas in infrastructure sector i.e.
Roads, Highways, Metro Rails, Airports and Speciality Real Estate.
CMT REPORT (Corruption Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized blocked frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject : None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners controlling shareholders
director officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management its Board of Directors Shareholders and other
financial stakeholde
CONTRAVENTION
Subject is not known to have contravened any existing local laws
regulations or policies that prohibit restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 44.82 |
|
|
1 |
Rs. 72.84 |
|
Euro |
1 |
Rs. 64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
76 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.