MIRA INFORM REPORT

 

 

Report Date :

21.05.2011

 

IDENTIFICATION DETAILS

 

Name :

JAIPRAKASH ASSOCIATES LIMITED (w.e.f. 11.03.2004)

 

 

Formerly known as:

JAYPEE CEMENT LIMITED

 

 

Registered Office :

Sector 128, Noida-201304, Uttar Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

15.11.1995

 

 

Com. Reg. No.:

20-19017

 

 

Capital Investment / Paid-up Capital :

Rs.4249.300 millions

 

 

CIN No.:

[Company Identification No.]

L14106UP1995PLC019017

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

LKNJ05124A

 

 

PAN No.:

[Permanent Account No.]

APPLIEDFOR

 

 

Legal Form :

A Public Limited Liability Company. The company’s shares are listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturing, Importing and Exporting of Portland Cement and Clinker Cement.

 

 

No. of Employees :

20000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (64)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 340000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and a reputed company of Jaypee group. Financial position of the company appears to be sound.

 

Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered normal for 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)

India

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 :

Sector 128, Noida-201304, Uttar Pradesh, India

Tel No.:

91-120-4609000 / 2470800

Fax No.:

91-120-4609464 / 4609496

E-Mail :

jal.investor@jalindia.co.in

sectl.dept@jalindia.co.in

Website :

http://www.jilindia.com

 

 

Corporate Office :

Jai Annexe House, 63, Basant Lok, Vasant Vihar, New Delhi-110 057, India

Tel. No.:

91-11-26411540 / 26147411 / 26149444 / 26141540

Fax No.:

91-11-26145389 / 26148890 / 26143591

E-Mail :

rajiv.srivastava@jil.co.in

 

 

Head Office :  

G-Block, Surajpur Kasna Road, Grater Noida, Noida-201 306, Uttar Pradesh, India

Factory 1 :

Bela, Sadva Khurd, District Allahabad, Uttar Pradesh, India 

 

 

Factory 2 :

 Naubastae, Tanda, District Faizabad, Uttar Pradesh, India 

 

 

DIRECTORS

 

Name :

Mr. Jaiprakash Gaur

Designation :

Founder Chairman

 

 

Name :

Mr. S. K. Jain

Designation :

Vice Chairman

 

 

Name :

Mr. Manoj Gaur

Designation :

Executive Chairman and Chief Executive Officer

 

 

Name :

Mr. Sunil Kumar Sharma

Designation :

Executive Vice Chairman

 

 

Name :

Mr. M. J. Subbiah

Designation :

Director (Nominee – ICICI)

 

 

Name :

Mr. A K Sahoo 

Designation :

Director (LIC Nominee)

 

 

Name :

Mr. Gopi K. Aroara

Designation :

Director

 

 

Name :

Mr. Prabodh Varaglal Vora

Designation :

Director

 

 

Name :

Mr. D. N. Davar

Designation :

Director

 

 

Name :

Mr. Sunny Gaur

Designation :

Managing Director (Cement)

 

 

Name :

Mr. Ranvijay Singh

Designation :

Whole-time Director

 

 

Name :

Mr. Rahul Kumar

Designation :

Whole-time Director

 

 

Name :

Mr. Samir Gaur

Designation :

Additional Director and Whole-time Director

 

 

Name :

Mr. Pankaj Gaur

Designation :

Joint Managing Director (Construction) 

 

 

Name :

Mr. Suren Jain

Designation :

Additional Director

Name :

Mr. Rakesh Sharma

Designation :

Director

 

 

Name :

Mr. S. D. Nailwal

Designation :

Whole-time Director and Chief Financial Officer

 

 

Name :

Mr. M. S. Srivastava

Designation :

Director

 

 

Name :

Mr. S. C. K. Patne

Designation :

Additional Director

 

 

Name :

Mr. R. C. Vaish

Designation :

Director

 

 

Name :

Mr. Suresh Kumar

Designation :

Director

 

 

Name :

Dr. B. Samal

Designation :

Director (IDBI Nominee)

 

 

Name :

Mr. S. Roy Chowdhury

Designation :

Director (LIC Nominee)

 

 

Name :

Mr. Suresh Kumar

Designation :

Director

 

 

Name :

Mr. Rakesh Sharma

Designation :

Director

 

 

Name :

Mr. B K Taparia

Designation :

Director

 

 

Name :

Mr. S C Bhargava

Designation :

Director

 

 

Name :

Mr. M J Subbaiah

Designation :

Director (ICICI Bank Nominee)

 

 

Name :

Mr. R N Bhardwaj

Designation :

Director

 

 

Name :

Mr. S C Gupta

Designation :

Director

 

 

Name :

Mr. B K Goswami

Designation :

Director

 

 

Name :

Dr. E R C Shekar

Designation :

Director

 

 

Name :

Mr. R K Singh

Designation :

Whole Time Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Harish K. Vaid

Designation :

Senior President (Corporate Affairs) and 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

 

 

(1) Indian

 

 

Individuals / Hindu Undivided Family

72,812,658

3.42

Bodies Corporate

734,059,521

34.52

Any Others (Specify)

189,316,882

8.90

Trusts

189,316,882

8.90

Sub Total

996,189,061

46.85

(2) Foreign

 

 

Individuals (Non-Residents Individuals / Foreign Individuals)

117,760

0.01

Sub Total

117,760

0.01

Total shareholding of Promoter and Promoter Group (A)

996,306,821

46.85

(B) Public Shareholding

 

 

(1) Institutions

 

 

Mutual Funds / UTI

105,509,483

4.96

Financial Institutions / Banks

12,819,225

0.60

Insurance Companies

110,732,797

5.21

Foreign Institutional Investors

441,117,271

20.74

Sub Total

670,178,776

31.52

(2) Non-Institutions

 

 

Bodies Corporate

149,169,725

7.02

Individuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

248,216,545

11.67

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

26,240,017

1.23

Any Others (Specify)

36,321,298

1.71

Non Resident Indians

14,143,543

0.67

Trusts

9,582,735

0.45

Overseas Corporate Bodies

4,965,200

0.23

Foreign Corporate Bodies

3,372,386

0.16

Clearing Members

4,257,434

0.20

Sub Total

459,947,585

21.63

Total Public shareholding (B)

1,130,126,361

53.15

Total (A)+(B)

2,126,433,182

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

-

-

(1) Promoter and Promoter Group

-

-

(2) Public

-

-

Sub Total

-

-

Total (A)+(B)+(C)

2,126,433,182

-

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing, Importing and Exporting of Portland Cement and Clinker Cement.

 

 

Products :

Products Description

 

ITC Code

Portland Cement

252329.01

 

 

GENERAL INFORMATION

 

No. of Employees :

20000 (Approximately)

 

 

Bankers :

·         Allahabad Bank

·         Andhra Bank

·         AKA Export Finance Bank

·         Indian Overseas Bank

·         ICICI Bank Limited

·         Canara Bank

·         Export Import Bank of India

·         Axis Bank Limited

·         Oriental Bank of Commerce

·         Punjab National Bank

·         Bank of Baroda

·         Bank of Bhutan

·         State Bank of India

·         State Bank of Hyderabad

·         State Bank of Indore

·         State Bank of Mysore

·         State Bank of Travancore

·         State Bank of Bikaner and Jaipur

·         State Bank of Patiala

·         State Bank of Sikkim

·         YES Bank Limited

·         Syndicate Bank

·         The Jammu and Kashmir Bank Limited

·         Union Bank of India

·         Punjab and Sind Bank

·         Central Bank of India

·         Citi Bank N.A.

·         Corporation Bank

·         HDFC Bank Limited

·         HSBC Limited

·         Indian Bank

·         Indian Overseas Bank

·         Industrial Bank Limited

·         Karur Vysya Bank

·         Karnataka Bank

·         Kotak Mahindra Bank

·         Royal Bank of Scotland

·         UCO Bank

·         Standard Chartered Bank

·         United Bank of India

·         Bank of Maharashtra

·         Bank of India

·         Refidian Bank, Iraq

·         United Western Bank of India

 

 

 

Banking Relations :

-

 

 

Auditors :

 

Name :

M. P. Singh and Associates

Chartered Accountants

Address :

B-8/14, Vasant Vihar, New Delhi-110057, India

Tel No.:

91-11-26141979

Fax No.:

91-11-26148150

E mail:

ravinagpal@vsnl.net

 

 

Associates:

·         Jaypee Ventures Private Limited

·         Jaypee Greens Limited

·         Jaypee Industrial and Medical Services Private Limited [w.e.f.23.03.2004]

·         JIL Information Technology Limited

·         Gaur and Nagi Limited

·         Indesign Enterprises Private Limited

·         Shiras Estates Limited

·         Jaypee Development Corporation Limited (w.e.f. 15.12.2007)

·         Jaiprakash Kashmir Energy Limited

·         Sonebhadra Minerals Private Limited

·         RPJ Minerals Private Limited  

 

 

Subsidiaries :

  1. Jaiprakash Power Ventures Limited
  2. Jaypee Arunachal Power Limited
  3. Bina Power Supply Company Limited
  4. Jaypee Karcham Hydro Corporation Limited
  5. Jaypee Powergrid Limited
  6. Sangam Power Generation Company Limited
  7. Prayagraj Power Generation Company Limited
  8. Bhilai Jaypee Cement Limited
  9. Bokaro Jaypee Cement Limited
  10. Gujarat Jaypee Cement and Infrastructure Limited
  11. Madhya Pradesh Jaypee Minerals Limited
  12. Jaypee Infratech Limited
  13. Jaypee Ganga Infrastructure Corporation Limited
  14. Himalyan Expressway Limited
  15. Jaypee Agra Vikas Limited
  16. JPSK Sports Private Limited

 

 

Joint Venture Company:

·         Jaypee DSC Ventures Limited [ till 03.02.2004]

·         Madhya Pradesh Jaypee Minerals Limited

·         Bhilai Jaypee Cementm Limited (w.e.f. 11.04.2007)

·         Bokaro Jaypee Cement Limited (w.e.f. 13.03.2008)

·        Jaypee Powergrid Limited (Joint Venture Subsidiary Company of Jaiprakash Hydro Power Limited

·         JPSK Sports Private Limited (w.e.f. 07.03.2008)

 

 

CAPITAL STRUCTURE

 

As on 29.09.2010

Authorised Capital : Rs.25600.000 millions

 

Issued, Subscribed & Paid-up Capital : Rs.4252.866 millions

 

As on 31.03.2010

Issued, Subscribed & Paid-up Capital : Rs.4249.300 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

4249.300

2803.600

2343.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

80757.900

62588.500

39652.000

4] Equity Warrants

0.000

1588.000

3985.000

5] (Accumulated Losses)

0.000

0.000

0.200

NETWORTH

85007.200

66980.100

45980.200

LOAN FUNDS

 

 

 

1] Secured Loans

113580.100

73382.800

46435.500

2] Unsecured Loans

65507.000

57678.900

36620.300

TOTAL BORROWING

179087.100

131061.700

83055.800

DEFERRED TAX LIABILITIES

9232.500

7200.400

5711.500

 

 

 

 

TOTAL

273326.800

205242.200

134747.500

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

106186.800

68179.100

37115.100

Capital work-in-progress

38916.400

50819.400

42190.100

 

 

 

 

INVESTMENT

55762.600

44652.000

32248.300

DEFERREX TAX ASSETS

0.000

304.100

114.900

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
29096.800

19100.500

13074.700

 

Sundry Debtors
22850.300

10220.400

5861.800

 

Cash & Bank Balances
38791.800

29085.900

18154.400

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
40251.000

33209.200

22538.400

Total Current Assets
130989.900

91616.000

59629.300

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

 

 

 

Other Current Liabilities
52014.300

45543.900

33490.700

 

Provisions
6514.600

4823.100

3060.500

Total Current Liabilities
58528.900

50367.000

36551.200

Net Current Assets
72461.000

41249.000

23078.100

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

38.600

1.000

 

 

 

 

TOTAL

273326.800

205242.200

134747.500

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

100889.100

57687.600

39783.700

 

 

Other Income

15828.700

3881.100

2888.700

 

 

TOTAL                                     (A)

116717.800

61568.700

42672.400

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Manufacturing Expenses

49775.900

26672.400

16840.800

 

 

Administrative Expenses

9579.100

6182.400

5585.900

 

 

Raw Material Consumed

2409.900

1320.500

1225.100

 

 

Miscellaneous Expenses

2712.600

756.600

851.500

 

 

Power & Fuel

4749.500

2646.900

2011.900

 

 

Employee Cost

6577.200

3228.700

2501.300

 

 

Increase/ Decrease in Stock

1054.400

(661.600)

(619.800)

 

 

TOTAL                                     (B)

76858.600

40145.900

28396.700

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

39859.200

21422.800

14275.700

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

11481.900

5823.300

3809.200

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

28377.300

15599.500

10466.500

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

4560.600

3089.700

2033.000

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

23816.700

12509.800

8433.500

 

 

 

 

 

Less

TAX                                                                  (H)

6733.100

3539.700

2336.800

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

17083.600

8970.100

6096.700

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

18796.800

15129.300

1100.600

 

 

 

 

 

Less

APPROPRIATIONS

9564.200

6089.300

2068.000

 

BALANCE CARRIED TO THE B/S

26450.300

18796.800

15129.300

 

 

 

 

 

 

Earnings Per Share (Rs.)

7.89

NA

NA

 

QUARTERLY RESULTS

 

PARTICULARS

 

 

30.06.2010

(1ST Quarter)

30.09.2010

(2nd Quarter)

Gross Sales 

 

31741.900

29932.600

Other Operating Income 

 

402.800

779.600

Other Income  

 

5164.700

67.300

Total Income 

 

37309.400

30779.500

Total Expenditure  

 

25327.700

23121.900

PBIDT 

 

11981.700

7657.600

Interest  

 

3279.400

3233.500

PBDT 

 

8702.300

4424.100

Depreciation 

 

1503.400

1527.800

Tax 

 

1428.200

569.300

Fringe Benefit Tax 

 

0.000

0.000

Deferred Tax 

 

610.900

1171.800

Reported Profit After Tax 

 

5159.800

1155.200

Extra-ordinary Items  

 

3673.200

10.900

Adjusted Profit After Extra-ordinary item 

 

1486.600

1144.300

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
14.64

14.57

14.29

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
23.61

21.69

21.20

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
10.04

7.83

8.72

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.28

0.19

0.18

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
2.80

2.71

2.60

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
2.24

1.82

1.63

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Company History:

 

Subject is a diversified infrastructural industrial conglomerate in India. The company is the leader in Engineering and Construction of Hydropower projects in India. They are the only integrated solution provider for Hydropower projects in the country with a track record of strong project implementation in different capacities. The company is in the business of heavy civil engineering construction, expressways, cement, and real estate and hospitality. The company is engaged in the business of integrated engineering construction and operates at the locations of their clients and uses electric energy for implementation of various projects undertaken by them. They are also engaged in the business of manufacture and marketing of cement and own five star hotels at New Delhi, Mussoorie and Agra and a Golf Course with associated recreational and residential facilities at Greater Noida as part of their real estate business. Jaiprakash Associates Limited, a part of the Jaypee Group was incorporated in the year in the year 1995 under the name Bela Cement Limited. The Company was promoted by Jaiprakash Gaur, a well known leader in the construction of multi-purpose river valley and hydropower projects. In the year 2000, Jaypee Rewa Cement Plant and Jaypee Bela Cement Plant were merged. In April 1, 2002, the cement division of Jaiprakash Industries Limited was hived off and merged with the company. The name of the company was changed to Jaypee Cement Limited In the year 2003, Jaiprakash Industries Limited was amalgamated with the company with effect from April 1, 2002 and the name of the company was changed from Jaypee Cement Limited to Jaiprakash Associates Limited with effect from March 11, 2004. Subsequently, the subsidiaries of Jaiprakash Industries Limited, namely Jaypee Hotels Limited, Jaiprakash Hydro-Power Limited, Jaiprakash Power Ventures Limited and Jaypee Karcham Hydro Corporation Limited became the subsidiaries of the company. During the year 2003-04, the company completed the contracts such as Contract for civil and hydro-mechanical works of 300 MW Baspa-II Hydroelectric Project in Himachal Pradesh, Contract for construction of Pressure Shafts and Underground Power House Complex of the Prestigious 1,500 MW Nathpa Jhakri Hydro-electric Project in Himachal Pradesh and EPC Contract for 300 MW Chamera (stage II) Hydroelectric Project in Himachal Pradesh. During the year 2004-05, the company completed the work of concrete gravity Dam and 1,000 MW capacity surface Power House of Indira Sagar (Narmada), Hydro-electric Project in Madhya Pradesh. During the year 2005-06, the company completed the work of construction of Dam and Power House of 1,000 MW Indira Sagar (Narmada Sagar) Hydro-electric Project. They entered into joint venture with Government of Madhya Pradesh and formed a Special Purpose Vehicle, namely Madhya Pradesh Jaypee Minerals Limited, for development of Amelia (North) Coal Block in Sidhi (MP) at an investment of Rs 400 crore. In June 2006, Jaypee Greens Limited merged with the company with effect from April 1, 2005. During the year 2006-07, the company completed the contracts such as, Dul-Hasti Hydroelectric Project (390 MW) in Jammu and Kashmir, Vishnuprayag Hydroelectric Project (400 MW) in Uttarakhand, Tehri Hydroelectric Project (1,000 MW) in Uttarakhand, Sardar Sarovat Hydroelectric Project (1450 MW) in Gujarat and Tala Hydroelectric Project (1,020 MW) in Bhutan. Thus, they completed the projects with power generation capacity of 4,260 MW. In October 5, 2006, Jaypee Powergrid Limited was incorporated as a subsidiary of Jaiprakash Hydro-Power Limited for transmission of energy from Karcham Wangtoo Hydro Electric Project of 1000 MW at Kinnaur in Himachal Pradesh from Wangtoo to the interconnecting point with the northern grid at Abdullapur, Yamunanagar, Haryana. In April 5, 2007, the company incorporated Jaypee Infratech Limited as a wholly owned subsidiary for implementation of Taj Expressway Project comprising 165 KM 6/B lane access controlled Expressway connecting Noida and Agra and related activities including development of land and in April 11, 2007, they incorporated Bhilai Jaypee Cement Limited in Chhattisgarh as a joint venture with Steel Authority of India Limited In May 25, 2007, the company incorporated Himalyan Expressway Limited as a wholly owned subsidiary for implementation of 27.14 km long Zirakpur- Parwanoo Road Project in the States of Punjab, Haryana and Himachal Pradesh on BOT basis. During the year 2007-08, the company completed the contracts, namely Teesta- V Hydro-electric Project (510 MW) in Sikkim, Omkareshwar Hydro-electric Project (520 MW) in Madhya Pradesh and construction of civil works of Zone-III Laole-Quazigund Section of Katra-Baramullah Railway Line in JandK. Also, they handed over the 390 MW Dulhasti Hydro Electric Project in the State of Jammu and Kashmir to NHPC. They commissioned the Wind Turbine Generators with an aggregate capacity of 49 MW (40.25 MW in Maharashtra and 8.75 MW in Gujarat). During the year, the company signed an agreement with Gujarat Mineral Development Corporation Limited for setting up a 2.4 MTPA cement plant in Gujarat through a Special Purpose Vehicle, namely Gujarat Jaypee Cement and Infrastructure Limited Also, the company along with the affiliates acquired 74% equity shares in JPSK Sports Private Limited In March 2008, the company commissioned the phase I of Chunar and Dalla Cement Plants in UP and Grinding Unit at Panipat in Haryana. In April 23, 2008, the company incorporated a subsidiary namely Jaypee Arunachal Power Limited to put up a Power Project in joint venture with Government of Arunachal Pradesh. During the year 2008-09, Jaypee Hotels Limited, Jaypee Cement Limited, Jaiprakash Enterprises Limited and Gujarat Anjan Cement Limited were amalgamated with the company with effect from April 1, 2008. The company acquired Bina Power Supply Company Limited, which was incorporated to set up 1250 MW (two phases of 625 MW each) coal fired Thermal Power Plant at Bina in Madhya Pradesh. The company through their subsidiary, JPSK Sports Private Limited targets to host the very first F1 Race in India in the year 2011. During the year, the company completed the work of 450 MW Baglihar-I Hydroelectric Project in J and K State. They commissioned their Cement Plant at Dalla and Sidhi and Grinding Facilities at Sevagram. In August 2008, the company signed four MoU with Madhya Pradesh Government to invest Rs 13,000 crore for setting up two cement manufacturing units, an aluminium production factory and a power plant for generating power. The power generation from these units would commence from 2011-2012. In addition, the company entered into an MoU with Government of Chhattisgarh for setting up a cement plant of 2 MTPA, Clinker plant of 1.5 MTPA and a captive power plant of 25 MW in Chhattisgarh. They also entered into another MOU for, setting up an integrated aluminium complex and a captive thermal power plant in Rewa. In February 2009, the company received letter of intent from Sangam Power Generation Company Limited for setting up of 2 x 66O MW Super Critical Technology - Karchhana Thermal Power Project at Allahabad, with approved coal linkage. In May 14, 2009, MP Jaypee Coal Limited was incorporated as a joint venture with Madhya Pradesh State Mining Corporation Limited for mining and sale of Coal from Dongri Tal-II Coal Block at Singrauli in Madhya Pradesh. During the year 2009-10, the company commissioned three new cement plants with aggregate capacity of 4.4 MTPA and their clinker manufacturing unit in Himachal Pradesh. The three new cements plants were Wanakbori (1.2 MTPA), Gujarat; Bagheri (2 MTPA), Himachal Pradesh and Roorkee (1.2 MTPA) Uttarakhand. Also, the company in joint venture with SAIL commissioned the cement plant of 2.2 MTPA capacity ahead of schedule (Units in Madhya Pradesh and Chattisgarh). The company proposes to make strategic investment in Fertilizer business through their subsidiary company, namely, Jaypee Fertilizers and Industries Limited

 

OPERATIONS

 

ENGINEERING DIVISION

 

New Contracts

 

During the year under report, the Company was awarded the following contracts :

 

(i) Construction of Sewer System including replacement of old sewer raising main at Parikarma  Marg at Varindavan, Distt.  Mathura the contract value of the work awarded to the Company is   Rs.96.400 millions;

 

(ii) Construction of Drains in Parikarma Marg area for the project water drainage for Varindavan Town, Distt. Mathura, awarded to JAL at a contract price of Rs.93.400 millions;

 

Besides the aforesaid contracts, the Company was awarded the contract for development of section of Agra Inner Ring Road, with a length of about 20.5 kilometer which was required to be implemented through a Special Purpose Vehicle (SPV). Accordingly, Jaypee Agra Vikas Limited (JAVL) was incorporated for the purpose and the project is being  implemented by JAVL.

 

1.1.2 The Company on its own has been prequalified to participate inthe tenders for the following projects:

 

(i) Eastern Peripheral Expressway in the States of Haryana and Uttar Pradesh on BOT (Toll) basis;

 

(ii) 8-lane access controlled expressway on the right Bank of Upper Ganga Canal in Uttar Pradesh on DBFOT basis; and

 

(iii) Civil and Hydro-mechanical works including Penstock liners of Vishnugad Pipalkoti Hydro Electric Project (4 x 111 MW) in the State of Uttarakhand on EPC contract basis;

 

(iv)Setting up of an Industrial Project in Kannuar, Kerala.

 

The Company has also submitted Application for Prequalification for Head Race Tunnel and Power House Complex (Dibang Lot:4) of 3000MW Dibang Multipurpose Project in Arunachal Pradesh and is expected to be qualified soon.

 

Operational Performance

 

During the year the Company has successfully commissioned its Clinkerisation Plant at Baga and Grinding Facilities at Bagheri, Roorkee and Wanakbori. In addition the Company has successfully commissioned Captive Power Plants at Chunar and Sewagram. 

 

Cement Production has increased to 10.69 Million Tonnes in 2009-10 from 7.63 Million Tonnes in 2008-09.

 

Cement dispatch including Clinker Sale has also increased to 10.98 Million Tonnes (and to 11.22 Million Tonnes after taking into account Despatches from M/s Bhilai Jaypee Cement Limited, a subsidiary of Jaiprakash Associates Limited) in 2009-10 from 7.64 Million Tonnes in 2008-09.

 

Expansion Plans

 

The Company is expanding its Cement Production Capacity to 29.25 MTPA. An additional capacity of 4.3 MTPA is being added through Joint 
Ventures with SAIL (Steel Authority of India Limited) taking the Groups total capacity to 33.55 MTPA by 2011 which will make Jaypee Group the 3rd largest Cement producing group in India.

 

The implementation of the on-going Projects is progressing satisfactorily.

 

HOTELS DIVISION

 

Presently the Hotels Division of the Company has four 5 Star luxury properties, strategically located to service the needs of discerning business and leisure travelers. In New Delhi, the Division has two hotels - Jaypee Siddharth with 94 rooms and Jaypee Vasant Continental with 119 rooms. The largest property of the Company Jaypee Palace Hotel and Convention Centre is located at Agra with an inventory of 341 rooms. Jaypee Residency Manor at Barlowganj, Mussoorie in Uttarakhand has 90 rooms and soon the hotel shall add 45 rooms more to its inventory.

 

Jaypee Palace Hotel and Convention Centre, Agra has been awarded under the category "Best Convention Centre Hotel" by Ministry of Tourism, Govt. of India.

 

The Jaypee Group has integrated the traditional Indian hospitality with modern systems and processes to create a contemporary and competitive Indian hospitality brand. All the four  properties are HACCP and ISO certified (Jaypee Palace Hotel, Agra - ISO 9001:2008; Jaypee Siddharth, New Delhi Quality Management System - ISO 9001:2008 and Environment Management System - ISO 14001:2004; Jaypee Vasant Continental, New Delhi Quality Management System - ISO 9001:2008 and Environment Management System - 14001:2004; Jaypee Residency Manor, Mussoorie ISO 22000: 2005 (FSMS) Food Safety Management System.

 

Jaypee Greens Golf and Spa Resort, Greater Noida is scheduled to open in July 2010 by revealing the best in 5 star luxury. Jaypee Greens Golf and Spa Resort is set amidst 60 acres of pristine land along with the international championship 18 hole Greg Norman Golf Course and world renowned "Six Senses Spa" with 169 rooms.

 

The Hotel Division faced the after effects of 26/11 incident in Mumbai and continued economic downturn during the year 2009-10. The situation got compounded with global slowdown resulting in reduced business and leisure travel both within and into India. Despite these tough situations and competitive market conditions the Hotel division managed to increase the overall occupancy percentage by 2%. To offset the revenues decrease in room segment, the division managed to   increase the revenue from its Food and Beverage operations by 5%. The performance of the Hotel Division is expected to be much better in view of the improvement in the business of the Hotel Industry.
 
REAL ESTATE DIVISION

 

Jaypee Greens Greater Noida

 

Spread across 452 acres, Jaypee Greens at Greater Noida is the maiden golf centric residential project of the Company. The project integrates Luxury Villas and Apartments with an 18 Hole  Greg Norman Signature golf course, 9 hole Chip and Putt golf course, landscaped parks and lakes along with an Integrated Sports Club, 60 acre Nature Reserve, an upcoming Resort and Spa hotel, Town Centre etc. During the year under report, Jaypee Greens Greater Noida has bagged   several prestigious International awards including the ‘Best Golf Development’, ‘Best Apartment’ for Sea Court and ‘Best Development’ for The Estate Homes at the prestigious ‘Bloomberg-Asia Pacific International property Awards’ supported by New York Times held at Hong Kong. These   were further complimented by the ‘Upcoming Residential Township’ Award at the Realty Plus Excellence Awards.

 

Jaypee Greens Noida

 

Second real estate project - Jaypee Greens Noida being developed by Jaypee Group is an epitome of extraordinary living.  Spread over 1162 acres, it has been designed as a new and exciting place to live, work and play. It offers wide range of residences from independent homes to high-rise apartments and penthouses, numerous Graham Cooke designed golf facilities,

 

Landscaped parks and lakes along with excellent education facilities, international standard health care facilities, various recreational and entertainment centers.

 

Within the Noida development, new residential communities – Jaypee Greens Kosmos, Jaypee Greens Kensington Park have been introduced which is a combination of residential plots and Hi   rise residential apartments. In the premium segment, The Augusta Homes were well received by the market. These exclusive homes are located on the center of the 9 Hole and the 18 Hole golf course. As a testimony to the quality and vision of WishTown, the Kallisto Town Homes were awarded the ‘Best Development’ at the prestigious ‘Bloomberg-Asia Pacific International property Awards’,

 

Jaypee Greens AMAN

 

Jaypee Greens third residential project Jaypee Greens AMAN at sector 151 is located on the fast developing Noida-Greater Noida expressway and offers 2 and 3 BHK apartments. Spread over 70 acres, the project also comprises Chip and Putt golf course, Gardens, Walkways, Fountains, Sports facilities, Social amenities like Shopping Complex, Social Club with Swimming pools, Gymnasiums. Primary and Senior Secondary Schools, Crčche, Kid’s play area etc.

 

Jaypee Greens Sports City

 

The Jaypee Greens Sports City located on the Yamuna Expressway, is the latest project launched by Jaypee Greens and comprises of a 350 hectare for an International Motor racing track, cricket, and other sports stadia. The development will be divided into various thematic districts offering commercial, residential and institutional facilities. The Commercial areas will offer well defined areas for elaborate financial and civic centers, along with the Residential Districts will  have a vast range of products including villas, town homes, residential plots and mid to high rise apartment blocks, with regular water supply and 24 hours electric power supply, to suit the requirements of all. Appreciation of the uniqueness of the vision behind Sports City has got International recognition at the Bloomberg Asia Pacific Property Awards where Jaypee Greens Sports City was awarded the ‘5 Star Award’ in the  category for ‘Best Mixed Use Development’.

 

The work on all these projects is progressing satisfactorily.

 

DIVERSIFICATION
 
WIND POWER PROJECT

 

The Company has been operating Wind Power Project of 49 MW (40.25 MW in Maharashtra and 8.75 MW in Gujarat), which was fully commissioned by March 31, 2008.

 

The electricity generated from the Project is being sold to Maharashtra State Electricity Distribution Company Limited (MSEDCL) in Maharashtra and Gujarat Urja Vikas Nigam Limited (GUVNL) in Gujarat. The energy sold and the revenue from sale of electricity in the year 2009-10 are 86.7 million Units and Rs.317.600 millions respectively against 80 million Units and Rs.282.700 millions\ in the year 2008-09.

 

DEVELOPMENT OF DONGRI TAL II AND MANDLA (SOUTH) COAL BLOCKS IN MADHYA PRADESH

 

(a) Madhya Pradesh Jaypee Coal Limited (MPJCL) has been incorporated on May 14, 2009, as a joint venture with Madhya Pradesh State Mining Corporation Limited( MPSMCL) for mining and sale of Coal from Dongri Tal-II Coal Block at Singrauli in Madhya Pradesh. MPSMCL will hold 51% of the issued equity shares of MPJCL in consideration for the mining rights granted to the Joint Venture Company and the Company would hold 49% equity in the said Joint Venture Company.  The JV

 

Company will thus be treated as a Government company within the meaning of Section 617 of the Companies Act, 1956.  The progress of the Project is satisfactory and the same is expected to be commissioned by September, 2012.

 

(b) Madhya Pradesh Jaypee Coal Fields Limited (MPJCFL) has been incorporated on January 4, 2010, as a joint venture with Madhya Pradesh State Mining Corporation Limited (MPSMCL) for mining and sale of coal from Mandla (South) Coal Block in District Chhindwara (M.P.).

 

MPSMCL holds 51% of the issued equity capital of MPJCFL in consideration for the mining rights granted to the JVC from Mandla (South) Coal Block and the Company would hold 49% of the equity capital in the said company. The JV Company will thus be treated as a Government company within the meaning of Section 617 of the Companies Act, 1956.  Necessary steps have been taken to obtain requisite clearances including Environment Clearance.

 

(c) Mandla (North) Coal Block in District Chhindara (MP) has been awarded to the Company for mining of coal. Necessary steps have been taken to obtain requisite clearances including Environment Clearance.

 

ENERGY FROM MUNICIPAL SOLID WASTE (MSW) AT CHANDIGARH

 

The Plant has successfully completed one year of operation taking 300-350 MT/ day garbage of the city of Chandigarh as per agreement without any breakdown even on a single day. The plant is serving the twin purpose of keeping the city clean and to conserve the energy resources available in the form of producing fuel called Refused Derived Fuel (RDF). RDF (in fluff form), the final product of the plant, is being disposed off commercially and is becoming popular as a good substitute of conventional fuel in the industry located around Chandigarh.

 

The Plant has been awarded for “Excellence in Solid Waste Management” by Andhra Pradesh Technology Development and Promotion Center, which is a autonomous society of CII, Govt. of AP and TIFAC (Under Govt. of India). The nominations for this award have been evaluated based on criteria viz. Scope of Work, Innovation/Effort, Technology, Processes and Systems, Aesthetics and Project Sustainability.

 

EXPLORATION AND DEVELOPMENT OF OIL AND NATURAL GAS

 

As reported in the last Annual Report, the seismic exploration activities had commenced as scheduled in the largest onshore oil- gas block in the ‘South Rewa Basin’ in Madhya Pradesh,   awarded to the Company under NELP-VI Round. The Company has 90% interest in the block and the consortium partner Prize Petroleum Company Limited who is the ‘Operator’ has 10% interests. The 1st phase of exploration is scheduled to be completed in the year 2012. The completion of 1st phase shall prima-facie establish the presence of hydrocarbons for pursuing the next phase.

 

The seismic exploratory surveys have been processing as planned. Geological Survey, Gravity-Magnetic Survey (API) have been successfully completed. 2D and 3D seismic surveys (API) have been progressing well and substantial areas in the awarded oil-gas block have been covered. The work is also progressing well on other committed programmes including preparatory works for drilling of exploratory wells. The completion of 1st phase of the exploratory program is targeted to be completed on schedule.

 

The Company is on the constant look out for attractive ‘farm-in’ opportunities in the up-stream oil and gas sector and also considering to participate in the bidding for oil and natural gas blocks under New Exploration Licensing Policy-9th Round (NELP-IX) and for Coal Bed Methane (CBM) blocks in the next Round for which the Government of India is expected to announce the bidding programme by the end of 2010.

 

 

UN-AUDITED STANDALONE FINANCIAL RESULTS [ PROVISIONAL]

FOR THE QUARTER ENDED 31.03.2011

(Rs. In Millions)

Particulars

Quarter Ended

Year Ended

31.03.2011

31.03.2011

[Unaudited]

[Unaudited]

 

 

 

(a) Net Sales / Income from operations

39053.200

129664.800

(b) Other Operating Income

769.100

2500.900

Total Income

39822.300

132165.700

 

 

 

Expenditure

 

 

a) (Increase) / Decrease in stock in trade and work in progress

(207.500)

(1627.200)

b) Direct Construction, Manufacturing Hotel/ Hospitability and Power Expenses

24055.600

79897.500

c) Employees cost

1549.900

5960.000

d) Depreciation

1506.500

6079.400

e) Other expenditure

5914.800

16547.400

Total

32819.300

106857.100

 

 

 

Profit from operations before other income, interest and exceptional Items

7003.000

25308.600

Other income

923.900

1035.900

Profit before interest and exceptional Items

7926.900

26344.500

Interest

4047.500

13942.200

Profit after Interest but before Exceptional Items

3879.400

12402.300

Exceptional Items

 

 

Profit on Sale of Shares

--

5131.600

Provision for writing off Claims – Iraq Works

--

--

Prior period Adjustment

(3.400)

8.400

Profit (+)/Loss(-) from Ordinary Activities before tax

3876.000

17542.300

Tax expense

 

 

a) Current Tax

594.600

3299.600

b) Excess Provision for Income Tax in earlier years Reversed

(140.900)

(140.900)

c) Deferred Tax

402.800

2722.500

Net Profit (+)/Loss(-) from Ordinary Activities after tax

3019.500

11661.100

Extraordinary Items

 

 

Employees Compensation

--

--

Net Profit (+) / Loss (-) for the year period

3019.500

11661.100

Paid up equity share capital (Face value of Rs.10/- per share)

4252.900

4252.900

Reserves excluding revaluation reserves as per balance sheet of previous accounting year

--

--

Earning per share (EPS)

 

 

Before extraordinary items

 

 

(a) Basic

1.42

5.49

(b) Diluted

1.37

5.27

After extraordinary items

 

 

(a) Basic

1.42

5.49

(b) Diluted

1.37

5.27

Public shareholding

 

 

          Number of shares

1130126361

1130126361

          Percentage of shareholding

53.16%

53.16%

 

 

 

Promoters and Promoters group Shareholding-

 

 

a) Pledged /Encumbered

 

 

Number of shares

2532500

2532500

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

0.25%

0.25%

Percentage of shares (as a % of total share capital of the company)

0.12%

0.12%

 

 

 

b) Non  Encumbered

 

 

Number of shares

993774321

993774321

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

99.75%

99.75%

Percentage of shares (as a % of total share capital of the company)

46.72%

46.72%

 

 

UNAUDITED STANDALONE SEGMENT – WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

FOR THE QUARTER ENDED 31.03.2011

(Rs. In Millions)

Particulars

Quarter Ended

Half Year Ended

31.03.2011

31.03.2011

[Unaudited]

[Unaudited]

 

 

 

Segment Revenue

 

 

a) Cement and Cement Products

15684.800

54557.800

b) Construction

17805.900

60527.200

C) Power

39.000

313.800

d) Hotel/ Hospitability and Golf Course

517.000

1810.200

e) Real Estate

5968.200

17117.400

f) Investments

923.900

1035.900

g) Others

31.200

103.500

h) Unallocated 

403.500

1356.800

Total

41373.500

136822.600

 

 

 

Less : Inter Segment Revenue

627.300

3621.000

Total Sales /Income

40746.200

133201.600

 

 

 

2. Segment Results

 

 

a) Cement and Cement Products

2228.500

8396.000

b) Construction

2185.100

9266.900

C) Power

(29.700)

122.100

d) Hotel/ Hospitability and Golf Course

99.800

164.900

e) Real Estate

2855.000

8686.300

f) Investments

923.900

1035.900

g) Others

(13.600)

(39.200)

h) Exceptional Item- Profit on sale of Share 

--

5131.600

Total

8249.000

32764.500

Less:

 

 

a) Interest

4047.500

13942.200

b) Exceptional Items – provision for writing off claims- Iraq Works

--

--

c) other Un- allocable Expenditure net off Un – allocable Income

325.500

1280.000

 

 

 

Profit before tax

3876.000

17542.300

 

 

 

3. Capital Employed

 

 

a) Cement and Cement Products  (Including capital work in Progress)

150572.100

150572.100

b) Construction (Including capital work in Progress)

31888.900

31888.900

C) Power (Including capital work in Progress)

14947.500

14947.500

d) Hotel/ Hospitability and Golf Course (Including capital work in Progress)

5645.900

5645.900

e) Real Estate (Including capital work in Progress)

26112.600

26112.600

f) Investments (Including Investment in Subsidiaries out of which 3 are operationale)

64837.500

64837.500

g) Others (Including capital work in Progress)

2763.300

2763.300

h) Unallocable  (Including FCCB proceeds with Banks) 

25183.900

25183.900

Total

321951.700

321951.700

 

Notes:

 

  1. Previous Years (Quarter figures have been regrouped / recast wherever necessary.
  2. While the Operating Profit for the year has increased by approx. Rs 1990.000 Millions. the Net Profit after tax, for the year is lower by approx Ra 5420.000 Millions on account of the following:

(i)                   increase in interest burden by Rs.3380.000 Millions; and

(ii)                 reduction in income from Exceptional/ Extraordinary items by Re 4900.000 Millions (from approx. Rs.10030.000 Millions during the previous year to approx. Rs.5130.000 Millions during the year)

  1. Status of Investors’ Grievances: Opening balance - 5, Received during the Quarter - 477. Addressed during the Quarler - 478, Balance - 4
  2. The above results have been subjected to limited review by the Statutory Auditors a terms of Clause 41 of the Listing Agreement The same were al reviewed by the Audit Committee and then approved by the Board of Directors in their respective meetings held on 14th May. 2011

 

 

 FIXED ASSETS

 

·         Land

·         Building

·         Purely Temporary Erections

·         Railway siding

·         Plant and Machinery

·         Captive Thermal Power Plant

·         Wind Turbine generators

·         Golf Course

·         Miscellaneous Fixed Assets

·         Motor Vehicles

·         Furniture and Office Equipment

·         Ships : Boat

·         Aeroplane / helicopter

·         Technical Books 


As per Web Details

 

History:

 

With a single minded focus in mind, to achieve pioneering myriads of feat in civil engineering Shri. Jaiprakash Gaur, Founder Chairman of Jaiprakash Associates Limited after acquiring a Diploma in Civil Engineering in 1950 from the University of Roorkee, had a stint with Govt. of U.P. and with steadfast determination to contribute in nation building, branched off on his own, to start as a civil contractor in 1958, group is the 3rd largest cement producer in the country. The groups cement facilities are located in the Satna Cluster (U.P), which has one of the highest cement production growth rates in India.

 

Milestones

 

1979

Jaiprakash Associates Private Limited formed and sets foot in Iraq.

1981

Commenced Hotel Business with first hotel in Delhi - Siddharth

1982

Hotel Vasant Continental was set up

1986

Commissioning of 1st unit of 1 MTPA Jaypee Rewa Plant (JRP) in District Rewa, MP


Formation of Jaiprakash Industries Limited (JIL) by amalgamation of Jaiprakash Associates Private Limited with Jaypee Rewa Cement Limited


Public Issue of JIL. 2,25,00,000 shares issued at a price of Rs. 10/-

1987

JIL listed on Bombay Stock Exchange

1991

Commissioning of 2nd unit of 1.5 MTPA Jaypee Rewa Plant

1992

Jaiprakash Hydro Power Limited established to operate 300 MW Baspa II HE Project


Jaiprakash Power Ventures Limited established to operate 400 MW Vishnuprayag HE project

1993

JIL signs MOU to develop and operate 1000 MW Karcham Wangtoo HE Project

1995

Bela Cement Limited incorporated to establish 3rd Cement Plant at Bela


Hotel Jaypee Residency Manor set up

1996

Commissioning of the 3rd cement plant 1.7 MTPA Jaypee Bela Plant in District Rewa, MP

1999

Hotel Jaypee Palace, Agra set up

2000

Jaypee Greens Limited – 458 acre golf centric real estate company comes into being

2001

Jaypee Institute of Information Technology (deemed University since Nov 1 2004) set up at NOIDA


All 3 cement plants were brought under one roof by hiving off Cement Business by JIL under Jaypee Cement Limited

2002

Jaypee Karcham Hydro Corporation Limited established to operate 1000 MW Karcham Wangtoo HE Project


Jaypee University of Information Technology (State university), Waknaghat set up

2003

1st Captive Thermal Power Plant of 25 MW commissioned at JRP


Formation of Jaiprakash Associates Limited (JAL) by merging JIL with Jaypee Cement Limited


Jaypee Institute of Engineering and Technology, Guna Set up


Awarded the NOIDA-Agra Expressway project on BOOT basis


300 MW Baspa-II commissioned and begins power generation

2004

Commissioning of 2nd Captive Power Plant of 25 MW at Jaypee Bela Plant

2005

Shares of JHPL listed on BSE/NSE. First hydropower company to be listed in the country

2006

Setting up of Madhya Pradesh Jaypee Minerals Corporation Limited (MPJMCL) in JV with MP State Mineral Development Corporation Limited for Coal Mining at Amelia Coal Block in Sidhi district of MP


Setting up of 1320 MW Nigrie Thermal project in Singrauli district in the State of Madhya Pradesh is expected to comprise two 660 MW units, each deploying supercritical technology and is expected to be commissioned in 2013.


Commissioning of 3rd Captive Power Plant of 38.5 MW at Jaypee Bela Plant


Acquisition of Cement Plants and Assets of UP State cement corporation Limited (in Liquidation) of 2.5 MTPA capacity


Acquisition of Gujarat Anjan Cement Limited for setting up a green field cement plant of 1.2 MTPA capacity in Bhuj, District Kutch Gujarat


400 MW Vishnuprayag Hydropower Station of JPVL, commissioned and begins power generation


MOU signed with Govt of Arunachal Pradesh for setting up of 2700 MW HE project on Siang river and 500 MW HE project on Syon river on BOOT basis

2007

Signing of a joint venture agreement with Steel Authority of India Limited for setting up a 2.0 MTPA slag based cement plant at Bhilai.


Himalayan Expressway Limited incorporated for implementation of 27.14 km Zirakpur Parwanoo Expressway awarded by NHAI


Mandla North Coal Block in District Chindwara allotted to the company for captive requirement of cement business


JAL in consortium with Prize Petroleum company Limited secures the south Rewa block for Oil and Gas exploration under the NELP VI round


JHPL signs MOU with PGCIL for formation of a Joint Venture company to lay a 230 km (approx.) long transmission system to evacuate power from the 1000 MW Karcham-Wangtoo Hydro Electric Project in Himachal Pradesh.


Jaypee Greens launched ‘Wish Town’ a historic residential township in India. Slated to be the India’s largest township development in over 1162 acres.


Signed an agreement with the Formula One Administration (FOA) to host the very first F1 Race in India in the year 2011.

2008

Jaypee Ganga Infrastructure Corporation Limited incorporated for implementation of 1047 Km long 8 lane Access controlled expressway between Greater Noida and Ballia in UP


Chunar and Dalla cement plants (UPPCL) in UP commissioned


1.5 MTPA Grinding unit at Panipat, Haryana, commissioned


Bokaro Jaypee Cement Limited incorporated for implementation of 2.1 MTPA slag based cement plant at Bokaro, Jharkand in JV with SAIL


2 MTPA cement capacity plant at Sidhi (M.P.) and 1.20 MTPA cement plant at Sewagram (Gujarat) has also been successfully commissioned.


Acquired Bina Power Supply Company Limited (BPSCL) from the Aditya Birla Group to set up a 1250 MW coal fired Thermal Power Plant at Bina, Madhya Pradesh.

2009

Amalgamation of four Group Companies, namely, Jaypee Cement Limited, Gujarat Anjan Cement Limited, Jaypee Hotels Limited and Jaiprakash Enterprises Limited with flagship company JAL.


Acquired Sangam Power Generation Company Limited for setting up

 

3 x 660 MW Karchana Thermal Power Project (Phase – I : 2x660 MW) and Prayagraj Power Generation Company Limited for 5 x 660 MW Bara Thermal Power project (Phase – I : 3x660 MW) from UP Power Corporation Limited on BOO basis.


Signing of MOU for setting up a 2.0 million tonnes per annum capacity cement plant in joint venture with Assam Mineral Development Corporation Limited (AMDC).


Group is setting up a Jaypee Hitech Casting Centre with capacity of


18,000 TPA at Rewa, M.P.


Jaiprakash Associates’ 2.4 million tonnes per annum capacity cement plant in Sewagram, Kutch, Gujarat was dedicated to the nation.


Amalgamation of Jaiprakash Power Ventures Limited with Jaiprakash Hydro-Power Limited; the name of the Company i.e. Jaiprakash Hydro-Power Limited changed to Jaiprakash Power Ventures Limited

2010

Commissioning of 2.00 MnTPA Jaypee Himachal Cement Grinding and Blending Plant, Bagheri (H.P.).


Commissioning of 1.20 MnTPA Jaypee Wanakbori Cement Grinding Unit, Wanakbori, Gujarat.


Commissioning of 2.2 MnTPA Bhilai Jaypee Cement Limited, Satna (Madhya Pradesh) and Bhilai (Chattisgarh).


1.2 million tonnes Jaypee Roorkee Cement Grinding Unit (JRCGU) at Roorkee, Uttarakhand.


JPVL to establish an integrated 240 MW Coal based Thermal Power plant in District Kannur, Kerala


Jaypee Infratech Limited listed on NSE/BSE.

 

 

Jaypee Group dedicates their 6th Cement plant to the nation Bringing Haryana on the Cement Map

 

The Jaypee group, which is a diversified industrial conglomerate with a turnover of over Rs.45000 millions, humbly announces the launching of their 6th Cement Plant at Panipat with a capacity of 15 Lac Mt per annum in Haryana today,  bringing Haryana in to the cement road map. On this occasion Shri. Manoj Gaur, Executive Chairman of M/s. Jaiprakash Associates Limited, launched the plant by performing pooja in a simple ceremony in the plant located at Panipat.

 

Shri Gaur very briefly highlighted about the group’s continued growth and diversification as a leader in the Engineering and Construction sector with substantial interest in Cement,  Hydropower, Thermal power, Wind Power, Expressways and Highways, Hospitalilty and Tourism, Real, Estate, Minerals and Mining, Transmission, Information Technology and Education. 

 

He also informed that with the capacity of 700 Megawatt, Jaypee Group is the highest producers of Hydro Power in the private sector.   The Group is pioneer in River Valley and Hydro electric power projects on International level.

 

In the real estate front, the awarding of ‘Noida to Agra’ Expressway and Ganga Expressway- construction from Noida to Ballia Via Varanasi, proves the confidence and the faith of the nation has shown in the Group, making the Jaypee Group the largest real estate company.

 

Jaypee group is also in to Hospitality industry with 5 star Hotels, two at  New Delhi and one each at Masoorie and Agra, which have special place in the Hospitality industry. 

 

This Group has a humble approach and in this direction The Jaiprakash Seva Sansthan has been formed to run Educational institution, industrial training centres, IT centres and three Universities on NO-PROFIT NO-LOSS BASIS.

 

Shri Gaur informed that the Cement Division of subkect, has 3 most modern, fully computerized cement plants located in Distt. Rewa in Madhya Pradesh, which makes it the largest cement complex at one location in India with an annual Capacity of 70 lac MT.  Presently, Jaypee Group is in the process of setting up plants in 8 states of the country and by 2010 the group has set a goal of installing 250 lac MT per annum.  Shri Gaur said that it would be an honour to the group, that the group would be first in the industry to achieve the capacity of 25 Million tons in 25 years till 2010 since inception of the group’s first one million ton cement plant in 1986.

 

During the launch, highlighting the contribution of Jaypee Group towards the economic growth of the country,  Shri Rahul Kumar, the Chief Operating Officer (Cement) said that currently the company is catering to the needs of the customers as per their requirement by providing high quality OPC Gr.43, Gr53, Special Cement T-40,Jaypee Buniyad and Jaypee Bulund cement. Shri Rahul Kumar also shared that Jaypee Bulund has been certified by IIT Rookee and IIT New Delhi for its quality.  It has been duly certified by these esteemed institutions that the 28 days compressive strength of Jaypee Bulund is over 55 MPa.

 

Jaypee Bulund cement is a premium brand in MP, UP, Bihar and Nepal.  In the state of Haryana, Punjab and Uttarakhand also the brand is getting popularized day by day.  It may also be informed that Jaypee cement has the maximum share of over 20% in the markets of Uttar Pradesh.

 

During the programme, Shri Sharad Agarwal, Jt. President (Marketing) said that keeping in view the need for cement in the infrastructural development, the company is coming up with capacity addition of cement in various parts of the country.  In this regard the company is setting up two plants with capacity of 30 Lac MT and 15 Lac MT respectively in Himachal Pradesh. He further added that the company is modernizing and adding capacity in their Dalla and Chunar plants in UP.  The plant at Chunar is commencing its production from this month itself. Work is in progress in setting up of latest cement plants  in Roorkee in Uttarakhand and Sidhi in MP.  The company is also setting up a cement plant at Satna and Bhilai in collaboration with one of the Navratnas i.e. Steel Authority of India. 

 

While the work is already under way in setting up a 6.400 millions ton cement plant in Gujarat,  the company is also setting up a  2.400 millions ton cement plant in collaboration with Mineral Development Corporation of Gujarat at Kutch .

 

Shri Agarwal also informed that as cost controlling measure, in all the up coming plants, the company is setting up its own captive power plant.

 

During the occasion all the officers and Sales Promoters of Haryana and Punjab were present.

 

Group Companies:

 

Subject is the flagship company of the Group and an acknowledged leader in construction of river valley and hydropower projects on turnkey basis and has been in the business for more than 3 decades. The company has had the unique distinction of executing simultaneously 13 hydropower projects spread over 6 states and the neighboring country of Bhutan for the generation of 10,290MW of power. It is the only engineering company in India to be assigned "CR1" grade by ICRA indicating 'very strong contract execution capacity' for hydropower (EPC) contracts with average values of up to Rs.20000.000 Millions. The company has now made its foray into highway construction.

 

Press Note

 

Jaiprakash Associates Limited, the flagship company of the well diversified industrial conglomerate JAYPEE GROUP having interests in the fields of Civil Engineering, Cement, Power, Real Estate and Hospitality, today signed the Shareholders Agreement with Steel Authority of India Limited (SAIL), a Navaratna public sector enterprise, for setting up a 2.1 million tones per annum capacity cement plant at Bokaro in joint venture with SAIL.

 

The Shareholders Agreement was signed by Shri Sunil Sharma, Executive Vice Chairman, Jaiprakash Associates Limited and Shri V.K. Srivastava, MD, Bokaro Steel Plant, SAIL in a function held in the office of SAIL at New Delhi on 21.02.08.

 

The joint venture company, to be incorporated shortly, shall set up a cement grinding unit at Bokaro in Jharkhand to manufacture Portland Slag Cement using the blast furnace granulated slag of Bokaro Steel Plant.  Clinker for this cement plant shall be supplied by SUBJECT from any of its existing units.  SAIL on its part is committed to supply the required quantity of slag to the joint venture company for a period of 30 years.

 

As per the agreement entered into between both the parties, the new cement plant shall be set up within 27 months from the signing of the Shareholders Agreement and other Agreements. 

 

Shri Sunil Sharma informed that the total project cost for setting up this cement plant is estimated to be Rs.4000 millions and Jaiprakash Associates Limited shall have 74% equity in the new joint venture company with balance 26% to be contributed by SAIL.

 

Jaiprakash Associates Limited had entered into another joint venture with SAIL last year for setting up a 2.2 million tones per annum capacity split – located cement plant with clinkerization facility at Satna, MP and cement grinding unit at Bhilai, Chhatisgarh.  Work on this project is in full swing and the plant is expected to be commissioned by March 2010.

 

SAIL has so far entered into two joint ventures for manufacture of slag based cement totaling over 4 million tones per annum and with this new joint venture, Jaiprakash Associates Limited has been successful in partnering with SAIL for setting up both these cement plants – a first of its kind in the country.

 

Jaiprakash Associates Limited is already operating the country’s largest single location cement facility of 7 million tones per annum capacity and its existing plants are located in district Rewa, MP from where cement is supplied to markets in the states of MP, UP, Bihar, Uttarakhand and Delhi.   With this new joint venture plant, the JAYPEE Group shall get access to fast growing markets of Eastern India including the north-eastern states.

 

JAYPEE Group is already in the process of implementing new Greenfield projects in Himachal Pradesh, Gujarat and Madhya Pradesh.  In addition, the Group has acquired the cement plants of UP State Cement Corporation Limited.  With these additions including this new joint venture, JAYPEE Group is poised to become third largest cement manufacturing group of the country with a total capacity in excess of 25 million tones by 2010.

 

Press Release

 

Jaiprakash Associates Limited wins Good Corporate Citizen Award

 

SUBJECT has received the Good Corporate Citizen Award presented by the PHD Chambers of Commerce and Industry for the year 2007. The award was presented at the 102nd PHDCCI annual session.

 

The award was instituted by PHDCCI in 1997 to recognize organizations that have high standards of Corporate Governance and has made an outstanding contribution to Social Development and Community Services. The winner was selected by the jury chaired by Justice Mr. V. K. Sabharwal, Former Chief Justice of India and comprising of distinguished citizens from various field on the criteria which includes performance of the organization, standards of Corporate Governance, contribution to Social Development and Community Services in terms of amount spent on various such programmes, number, time span, geographical coverage and impact of such programmes.

 

Shri Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Government of India awarded the prestigious award and was accepted by Shri. Harish K. Vaid, President (Corporate) Company Secretary, Jaypee Group.

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No 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 stakeholders.

 

 

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.44.93

UK Pound

1

Rs.72.91

Euro

1

Rs.64.34

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

 

64

 

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

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.