1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Ramky Infrastructure Limited |
Principal Name 1 |
Mr. Alla Ayodhya Rami Reddy |
|
Status |
Good |
Principal Name 2 |
Mr. Y R Nagaraja |
|
|
|
Registration # |
01-017356 |
|
Street Address |
6-3-1089/G, 10 and 11, 1st Floor, Gulmohar Avenue,
Rajbhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India |
||
|
Established Date |
13.04.1994 |
SIC Code |
-- |
|
Telephone# |
91-40-23310091 (30 Lines) |
Business Style 1 |
Subject is an Integrated Construction, Infrastructure
Development and Management Company. |
|
Fax # |
91-40-23302353 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
2429
(Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.571,977,910/- |
Product Name 3 |
-- |
|
Shareholders |
Shareholding of
Promoter and Promoter Group- 66.85% Public Shareholding- 33.15% |
Banking |
State Bank of India |
|
Public Limited Corp. |
Yes |
Business Period |
17 years |
|
IPO |
Yes |
International Ins. |
-- |
|
Public |
Yes |
Rating |
A (65) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
-- |
Ramky Integrated Township Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
21,713,200,000 |
Current Liabilities |
15,097,700,000 |
|
Inventories |
3,613,900,000 |
Long-term Liabilities |
6,756,500,000 |
|
Fixed Assets |
3,344,200,000 |
Other Liabilities |
377,000,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
22,231,200,000 |
|
Invest& other Assets |
2,449,900,000 |
Retained Earnings |
8,318,000,000 |
|
|
|
Net Worth |
8,890,000,000 |
|
Total Assets |
31,121,200,000 |
Total Liab. & Equity |
31,121,200,000 |
|
Total Assets (Previous Year) |
18,064,700,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
27,305,200,000 |
Net Profit |
1,573,600,000 |
|
Sales(Previous yr) |
18,612,500,000 |
Net Profit(Prev.yr) |
1,027,500,000 |
MIRA
INFORM REPORT
|
Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAMKY INFRASTRUCTURE LIMITED (W.e.f. 24.06.2003) |
|
|
|
|
Formerly Known
As : |
RAMKY INFRASTRUCTURE PRIVATE LIMITED (w.e.f. 23.06.2003) RAMKY ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6-3-1089/G, 10 and 11, 1st Floor, Gulmohar Avenue,
Rajbhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.04.1994 |
|
|
|
|
Com. Reg. No.: |
01-017356 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.571.978
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210AP1994PLC017356 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDR01286F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9627B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Subject is an Integrated Construction, Infrastructure
Development and Management Company. |
|
|
|
|
No. of Employees
: |
2429 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 36000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial positions
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The 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 : |
6-3-1089/G, 10 and 11, 1st Floor, Gulmohar Avenue,
Rajbhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23310091 (30 Lines) |
|
Fax No.: |
91-40-23302353 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Zonal Offices : |
Located at: · Hyderabad · Ahmedabad · Kolkata · New Delhi · Bhopal |
|
|
|
|
Regional Offices : |
Located at: · Mumbai · Chennai · Bangalore |
DIRECTORS
(AS ON 31.03.2011)
|
Name : |
Mr. Alla Ayodhya Rami Reddy |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
48 years |
|
|
|
|
Name : |
Mr. Y R Nagaraja |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
49 years |
|
|
|
|
Name : |
Mr. Rajiv Maliwal |
|
Designation : |
Non-Executive Director |
|
Date of Birth/Age : |
51 years |
|
|
|
|
Name : |
Dr. Archana Niranjan Hingorani |
|
Designation : |
Non-Executive Director |
|
Date of Birth/Age : |
46 years |
|
|
|
|
Name : |
Mr. V. Murahari Reddy |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
68 years |
|
|
|
|
Name : |
Dr. P. G. Sastry |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
74 years |
|
|
|
|
Name : |
Mr. Kamlesh Shivji Vikamsey |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
51 years |
|
|
|
|
Name : |
Mr. V. Harish Kumar |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
45 years |
|
|
|
|
Name : |
Mr. P. V. Narasimham |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. L Pundareek |
|
Designation : |
Director |
|
Date of Birth/Age : |
61 years |
KEY EXECUTIVES
|
Name : |
Mr. V. Phanibhushan |
|
Designation : |
Company Secretary and Compliance
Officer |
|
|
|
|
Name : |
Mr. Shuvendu Sekhar Mohanty |
|
Designation : |
Chief Executive Officer (Cash Contracts) |
|
Date of Birth/Age : |
58 years |
|
|
|
|
Name : |
Mr. RS Garg |
|
Designation : |
Chief Financial Officer |
|
Date of Birth/Age : |
55 years |
|
|
|
|
Name : |
Mr. C Sreenivasan |
|
Designation : |
Chief People Officer (CPO) |
|
Date of Birth/Age : |
53 years |
|
|
|
|
Name : |
Mr. P Nagarjuna Rao |
|
Designation : |
Group Supply Chain Officer |
|
Date of Birth/Age : |
50 years |
|
|
|
|
Name : |
Mr. Aspun F Battiwala |
|
Designation : |
Vice President (Projects) |
|
Date of Birth/Age : |
48 years |
|
|
|
|
Name : |
Mr. Dhiresh Nigam |
|
Designation : |
49 years |
|
Date of Birth/Age : |
Vice President (Projects) |
|
|
|
|
Name : |
Mr. Srinivas Bhogaraju |
|
Designation : |
Vice President (Projects) |
|
Date of Birth/Age : |
45 years |
|
|
|
|
Name : |
Mr. Vijaya Rami Reddy |
|
Designation : |
General Manager F&A |
|
Date of Birth/Age : |
37 years |
|
|
|
|
Name : |
Mr. Durga Prasad P Rege |
|
Designation : |
Associate Vice President (Projects) |
|
Date of Birth/Age : |
45 years |
|
|
|
|
Name : |
Mr. Nityanand Pathak |
|
Designation : |
Associate Vice President (Projects) |
|
Date of Birth/Age : |
42 years |
|
|
|
|
Name : |
Mr. N Venkata Reddy |
|
Designation : |
General Manager |
|
Date of Birth/Age : |
48 years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2011)
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
38,013,967 |
66.46 |
|
|
225,000 |
0.39 |
|
|
38,238,967 |
66.85 |
|
|
|
|
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
38,238,967 |
66.85 |
|
|
|
|
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
2,824,265 |
4.94 |
|
|
648,866 |
1.13 |
|
|
289,356 |
0.51 |
|
|
2,043,937 |
3.57 |
|
|
5,806,424 |
10.15 |
|
|
|
|
|
|
|
|
|
|
3,278,129 |
5.73 |
|
|
|
|
|
|
|
|
|
|
2,339,612 |
4.09 |
|
|
1,285,459 |
2.25 |
|
|
|
|
|
|
6,249,200 |
10.93 |
|
|
61,422 |
0.11 |
|
|
193,795 |
0.34 |
|
|
210 |
- |
|
|
840 |
- |
|
|
5,942 |
0.01 |
|
|
5,986,991 |
10.47 |
|
|
13,152,400 |
22.99 |
|
|
|
|
|
Total
Public shareholding (B) |
18,958,824 |
33.15 |
|
|
|
|
|
Total
(A)+(B) |
57,197,791 |
100.00 |
|
|
|
|
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
|
|
|
Total
(A)+(B)+(C) |
57,197,791 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs.0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Subject is an Integrated Construction, Infrastructure
Development and Management Company. |
GENERAL INFORMATION
|
No. of Employees : |
2429 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Bankers : |
· State Bank of India · State Bank of Hyderabad · Axis Bank Limited · Yes Bank Limited · ING Vysya Bank Limited · Standard Chartered Bank · ICICI Bank Limited · IndusInd Bank Limited · Kotak Mahindra Bank Limited · Development Credit Bank Limited · IDBI Bank Limited · Andhra Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
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|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
Visweswara Rao and Associates Chartered Accountants |
|
Address : |
'SRI' Plot No.512A1, Road No.31, Jubilee Hills, Hyderabad
– 500033, Andhra Pradesh, India |
|
|
|
|
Joint Statutory Auditors: |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Reliance Humsafar, IV Floor, Banjara Hills, Road No.11, Hyderabad
– 500034, Andhra Pradesh, India |
|
|
|
|
Internal Auditors : |
|
|
Name : |
K.P. Rao and Associates Chartered Accountants |
|
Address : |
7-1-59/4 and 8, Ameerpet, Hyderabad - 500 016, Andhra
Pradesh, India |
|
|
|
|
Subsidiaries : |
· Ramky Pharma City (India) Limited · MDDA - Ramky IS Bus Terminal Limited · Ramky Food Park (Chhattisgarh) Limited · Naya Raipur Gems and Jewellery SEZ Limited · Ramky Herbal and Medicinal Park (Chhattisgarh) Limited · Ramky - MIDC Agro Processing Park Limited · Ramky Engineering and Consulting Services (FZC) · Gwalior Bypass Project Limited · Ramky Elsamex Hyderabad Ring Road Limited · Ramky Towers Limited · Ramky Enclave Limited · Srinagar Banihal Expressway Limited · Ramky Multi Product Industrial Park Limited ·
Ramky Food Park (Karnataka) Limited |
|
|
|
|
Joint controlled entities : |
· NAM Expressway Limited · Jorabat Shillong Expressway Limited |
|
|
|
|
Associates : |
· Ramky Integrated Township Limited ·
Narketpally Addanki Expressway Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Share |
Rs.10/- each |
Rs.700.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
57197791 |
Equity Share |
Rs.10/- each |
Rs.571.978
Millions |
|
|
|
|
|
NOTE
(Of
the above 4,11,83,345 equity shares of Rs.10/- each were issued during the financial
year 2007-08, as fully paid bonus shares by way of capitalisation of Securities
Premium Account.)
Of the
above, 77,77,777 equity shares (previous year: Nil) were issued as part of its
initial public offering during the year by the Company at a premium of Rs.440
per share
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
572.000 |
494.200 |
494.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8318.000 |
3768.400 |
2740.912 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8890.000 |
4262.600 |
3235.112 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6416.800 |
4739.000 |
3898.950 |
|
|
2] Unsecured Loans |
339.700 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
6756.500 |
4739.000 |
3898.950 |
|
|
DEFERRED TAX LIABILITIES |
31.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15678.000 |
9001.600 |
7134.062 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3344.200 |
1351.600 |
1331.393 |
|
|
Capital work-in-progress |
308.900 |
34.600 |
33.681 |
|
|
|
|
|
|
|
|
INVESTMENT |
2141.000 |
601.300 |
527.286 |
|
|
DEFERREX TAX ASSETS |
0.000 |
6.700 |
30.875 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3613.900
|
3308.700 |
1798.501 |
|
|
Sundry Debtors |
10613.500
|
5744.000 |
5648.168 |
|
|
Cash & Bank Balances |
998.600
|
1384.100 |
1157.594 |
|
|
Other Current Assets |
3225.200
|
1821.400 |
618.831 |
|
|
Loans & Advances |
6875.900
|
3812.300 |
2554.582 |
|
Total
Current Assets |
25327.100
|
16070.500 |
11777.676 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
5500.600
|
3740.700 |
2714.924 |
|
|
Other Current Liabilities |
9597.100
|
5320.000 |
3848.183 |
|
|
Provisions |
345.500
|
2.400 |
3.742 |
|
Total
Current Liabilities |
15443.200
|
9063.100 |
6566.849 |
|
|
Net Current Assets |
9883.900
|
7007.400 |
5210.827 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
15678.000 |
9001.600 |
7134.062 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
27305.200 |
18612.500 |
14592.314 |
|
|
|
Other Income |
139.500 |
70.000 |
81.881 |
|
|
|
TOTAL (A) |
27444.700 |
18682.500 |
14674.195 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Contract Costs |
22732.400 |
15643.600 |
12390.823 |
|
|
|
Personnel Costs |
1065.400 |
570.000 |
488.020 |
|
|
|
Administrative and Other Expenses |
648.300 |
452.500 |
309.108 |
|
|
|
Prior Period Adjustment |
0.000 |
0.000 |
(24.665) |
|
|
|
TOTAL (B) |
24446.100 |
16666.100 |
13212.617 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2998.600 |
2016.400 |
1461.578 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
684.200 |
626.800 |
533.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2314.400 |
1389.600 |
927.678 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
192.700 |
104.900 |
92.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2121.700 |
1284.700 |
835.305 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
548.100 |
257.200 |
190.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1573.600 |
1027.500 |
644.564 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2962.300 |
1934.800 |
1290.216 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
200.000 |
-- |
-- |
|
|
|
Dividend |
257.400 |
-- |
-- |
|
|
|
Tax on Dividend |
41.800 |
-- |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
4036.700 |
2962.300 |
1934.780 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
30.800 |
0.000 |
3.856 |
|
|
|
Plant and Machinery |
542.500 |
0.000 |
150.234 |
|
|
TOTAL IMPORTS |
573.300 |
0.000 |
154.090 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.57 |
20.79 |
13.04 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2010 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
6028.020 |
|
Total Expenditure |
|
|
5334.110 |
|
PBIDT (Excl OI) |
|
|
693.910 |
|
Other Income |
|
|
60.690 |
|
Operating Profit |
|
|
754.600 |
|
Interest |
|
|
232.640 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
521.960 |
|
Depreciation |
|
|
71.190 |
|
Profit Before Tax |
|
|
450.770 |
|
Tax |
|
|
127.180 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
323.590 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
323.590 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.73
|
5.50 |
4.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.77
|
6.90 |
5.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.40
|
7.37 |
6.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.30 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.50
|
3.24 |
3.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.77 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
DESCRIPTION
Subject is an India-based company. The Company along with
its subsidiaries is engaged in projects, such as Pharmacity, Vizag, operated by
Ramky Pharma City (India) Limited (RPCIL), 51% owned subsidiary, engaged in An
Integrated Industrial Park for bulk drug and chemical manufacturers, being
developed on 2200 acres of land at Vishakapatnam; Inter-state Bus Terminus,
Deharadun, operated by MDDA-Ramky IS Bus Terminal Limited(100% owned), engaged
in operated bus terminal; Gwalior, Bypass Road Project, operated under Gwalior
Bypass Projects Limited (51% owned), engaged in the project for development of
Gwalior Bypass Road project in Madhya Pradesh, and Business Development and
Consultancy, Sharjah, United Arab Emirates, operated by Ramky Engineering and
Consulting Services (FZC) (100% owned), in providing Business Consultancy
Services. For the nine months ended 31 December 2010, Subject revenues increased
53% to RS19.14B. Net income increased 65% to RS1.15B. Revenue reflects an
increase in the sales from construction segment and higher other operating
income. Net income also reflects higher gross and operating profit margin.
Company is an integrated construction, infrastructure development and
management Company in India.
REVIEW OF PERFORMANCE
The Company had a robust year with execution of several
infrastructural projects, while experiencing a good order inflow. The overall
performance has been commensurate with the expectations set for the year.
Members will notice that the revenues climbed by 46% to
Rs.27300.000 Millions from Rs.18610.000 Millions, while the profit before tax
was increased to Rs.2120.000 Millions a growth of 65% from Rs.1280.000 Millions
achieved in the previous year. These results were a consequence of the
Company's focus to execute and deliver projects on time, step up operating
margins, control costs and achieve operational efficiencies.
The profit after tax for the year under review was
Rs.1570.000 Millions, an increase of 53% from Rs.1020.000 Millions reported in
the previous year. The Earnings per Share was `29.57 on the post-IPO enhanced
equity, as compared to Rs.20.79 in 2009-10.
The Company was awarded projects totaling Rs.62970.000
Millions across all verticals, with the result the order book at year end stood
at a healthy Rs.109980.000 Millions. The significant increase of 48% over the
previous year end order book balance of Rs.74310.000 Millions is a testimony to
the strength of the Company's brand, technical competence and execution
capabilities.
OUTLOOK
The Company sees traction in all six verticals and is
increasing its presence in a highly competitive market. Looking ahead, the
Company sees high revenue visibility on the strength of the pace of execution
of the orders on hand. The order inflow continues to be robust supplementing
the existing order book, which in the infrastructure industry translates to
revenues normally in about 24 to 30 months.
While the existing verticals are expected to grow at an
accelerated rate, the Company is exploring opportunities in newer and niche
verticals which are in line with the Company's core competence, both in India
and overseas. The focus will remain on leveraging the organizational strengths
to win high-value projects and strive to improve market share. The Company
adheres to prudential norms right from bidding for projects and ensures fiscal
discipline until their execution. Members will be gratified to know that sustained
long term growth will remain the hallmark of the Company.
SHARE CAPITAL
The paid up share capital of the Company was increased from
Rs.494.200 Millions to Rs.571.978 Millions by allotment of 77,77,777 equity
shares of Rs.10 each at a premium of Rs.440 per share on October 5, 2010,
pursuant to the Initial Public Offer (IPO). As Members are aware, the Company
had come out with an IPO by issue of 77,77,777 Equity Shares of Rs.10 per share
at a price of Rs.450 per share (including share premium of Rs.440 per share)
aggregating Rs.3500.000 Millions and the same were listed on the Bombay Stock
Exchange Limited and the National Stock Exchange of India Limited on October 8,
2010.
MANAGEMENT
DISCUSSION AND ANALYSIS
INFRASTRUCTURE INDUSTRY - AN OVERVIEW
Investment in infrastructure is estimated to climb to 7.55%
of gross domestic product (GDP) during the 11th Five Year Plan from 5.15%
achieved during the 10th Five Year Plan period. A high level committee on
financing infrastructure in the Planning Commission has projected investment of
Rs.40990000.000 Millions (US$ 1,025 billion) during the 12th Five Year Plan
period (2012-17) to achieve a share of 9.95% as a proportion of the GDP.
According to the latest CRISIL Research on construction, the
total capital investments (industrial and infrastructure) are to grow by 1.7
times over the next five years (2010-11 to 2014-15) to Rs.37300000.000 Millions
from Rs.22100000.000 Millions investments made in 2005-06 to 2009-10. During
the same period, construction investments would nearly double from
Rs.8900000.000 Millions to Rs.16800000.000 Millions. CRISIL says this growth
will be driven by infrastructure investments, which are expected to double
during this five-year period. Within the infrastructure segment, sectors such
as roads, power and irrigation are likely to grow at a faster pace vis-ŕ-vis
the airports, ports and telecom sectors.
The growth in construction investments during this period
will be driven by the infrastructure segment, which is estimated to comprise
85% of the total construction investment. Within the infrastructure segment,
sectors such as roads, power, irrigation and urban infrastructure sectors would
together contribute around 73% of the total construction investment. During the
period 2005-06 to 2009-10, the four sectors collectively accounted for 64% of
the total construction investment, the Research report said. A number of
initiatives were taken in the course of the 11th Plan to accelerate the pace of
investment in infrastructure. In particular, the government has taken several
initiatives for standardising the documents and processes for structuring and
award of PPP projects in a transparent and competitive manner.
The governments, both central and in the states, are
emphasizing infrastructure development as one of the inevitable instruments for
changing the face of growing India. The momentum in the economy is hence adding
traction to the business plans of all infrastructure companies.
COMPANY PERSPECTIVE
Ramky
Infra operates in two principal business segments:
i. EPC business which is operated by the Company, and
ii. Developer business which is operated through 14
subsidiaries and 3 associates. A majority of the development projects are
public private partnerships and are operated by separate special purpose
vehicles (SPVs) promoted by the Company and other companies/undertakings.
EPC BUSINESS
The
Company operates in the following verticals:
i. Water and waste water
ii. Transportation
iii. Buildings
iv. Irrigation
v. Industrial
vi. Power transmission and distribution
DEVELOPER
The
Company conducts its business through subsidiaries/special purpose
vehicles/joint ventures/associates formed for the development of BOOT/BOT
projects. A brief overview of the SPVs/ subsidiaries is given below:
Ramky
Pharma City (India) Limited (RPCIL)
This SPV has been formed for developing the Jawaharlal Nehru
Pharma City Industrial Park at Parawada, Visakhapatnam. This is an integrated
industrial park aimed at bulk drug manufacturers, pharmaceutical companies and
fine chemical manufacturers.
This is a perpetual BOO project in a joint venture with
Andhra Pradesh Industrial Infrastructure Corporation, which owns 11% of RPCIL
while Ramky Infra holds 51% stake. The SPV has reported revenues of Rs.1058.204
Millions for the financial year 2010-11 as compared to Rs.688.546 Millions in
the previous year. Net profit for the year is Rs.421.414 Millions, a
significant improvement over Rs.221.476 Millions earned in the previous year.
MDDA-Ramky
IS Bus Terminal Limited
This SPV has been formed for developing inter-state bus
terminal and commercial mall at Dehradun. This is a BOT project in which Ramky
Infra holds 100% stake. During the year under review, the subsidiary has
reported gross revenues of Rs.25.990 Millions as against of Rs.20.504 Millions
in 2009-10. It has reported a net loss of Rs.4.885 Millions as against net
profit of Rs.1.355 Millions in the previous year.
Gwalior
Bypass Projects Limited
This SPV has been formed for developing a 42 km road that
will connect the NH-3 and NH-75 highways in Madhya Pradesh. The road is being
built on a BOT basis, with semi-annuity payments.51% of this SPV is held by
Ramky Infra. The construction work is in the final stages of completion.
Ramky
Elsamex Hyderabad Ring Road Limited
This
SPV is formed for design, construction, development, finance, operation and
maintenance of eight lane access controlled expressway under Phase-IIA
programme as an extension of Phase-I of ORR to Hyderabad City, in the State of
Andhra Pradesh, for the package from Tukkuguda to Shamshabad from Km 121.00 to
Km 133.63 on Build, Operate and Transfer (BOT) (Annuity) Basis. Ramky Infra
holds 74% of this SPV. The construction work has been completed. The SPV has
reported gross revenue Rs.532.541 Millions as annuity income and a net profit
of Rs.18.936 Millions in 2010-11.
Ramky
Towers Limited
This SPV is formed for developing an integrated residential
and commercial project on 17.10 acres of land in Gachibowli, Hyderabad and
Andhra Pradesh in line with the contract executed with Andhra Pradesh Housing
Board. Ramky Infra holds 51% stake in this entity. This subsidiary has reported
revenues of Rs.1230.847 Millions in the year as compared to Rs.588.141 Millions
in the previous year. The net profit for the year is of Rs.65.397 Millions as
against of Rs.32.807 Millions achieved in 2009-10.
Ramky
Enclave Limited
This SPV is formed for developing an integrated housing
project on 32.69 acres of land at Warangal, Andhra Pradesh in line with the
contract executed with Andhra Pradesh Housing Board. Ramky Infra holds 89.01%
stake in this entity. This subsidiary has reported revenues of Rs.90.986
Millions for 2010-11 as against of Rs.76.602 Millions in the previous year. The
net profit for the year is Rs.3.230 Millions as against net loss of Rs.7.243
Millions in the previous year.
Ramky
Food Park (Chhattisgarh) Limited
This SPV is formed for developing, designing, marketing,
operating and maintaining the food processing park in the district of
Rajnandagaon, Chhattisgarh on a BOT basis. Ramky Infra holds 100% stake in this
SPV. An Authorization Agreement has been entered into with the Chhattisgarh
State Industrial Development Corporation. The business of the Company is yet to
commence. The SPV has reported revenue of Rs.0.044 Million from interest income
and a net loss of Rs.0.061 Million during the year.
Ramky
Herbal and Medicinal Park (Chhattisgarh) Limited
This SPV is formed for developing, designing, marketing,
operating and maintaining the herbal and medicinal park in the district of
Dhamtari, Chhattisgarh on a BOT basis and Ramky Infra holds 100% stake in this
SPV. An Authorization Agreement has been entered into with the Chhattisgarh
State Industrial Development Corporation. Possession of land is yet to be
handed over to the company for the development, and the business is yet to
commence. The SPV has reported gross revenue of Rs.0.001 Million as interest
income and loss of Rs.0.096 Million during the financial year.
Naya
Raipur Gems and Jewellery SEZ Limited
This SPV is formed for developing, designing, marketing,
operating and maintaining the gems and jewellery park in Raipur District,
Chhattisgarh on a BOT basis. Ramky Infra holds 100% stake in this SPV. An
Authorization Agreement has been entered into with the Chhattisgarh State
Industrial Development Corporation. The business of the company is yet to be
started and this SPV has reported gross revenue of Rs.0.071 Million towards
interest income and a net loss of Rs.0.567 Million in the year.
Ramky
Food Park (Karnataka) Limited
Ramky Food Park (Karnataka) Limited was incorporated on
December 22, 2010 for developing food parks at Tumkur in Karnataka in
accordance with the contract executed with Karnataka State Government. The
company is yet to start its business and there was no income in the financial
year and posted a net loss of Rs.0.049 Millions.
Ramky
MIDC Agro Processing SEZ Limited
The SPV is formed for developing, designing, marketing,
operating and maintaining the agro processing SEZ on a BOOT basis. Ramky Infra
holds 100% stake in this SPV. An Authorization Agreement was entered with the
Maharashtra Industrial Development Corporation. The Company is yet to commence
operations. The SPV has reported gross revenue of Rs.0.011 Million towards
interest income and reported a net loss of Rs.0.185 Million in the year.
Ramky
Engineering and Consulting Services (FZC), Sharjah, U.A.E.
Ramky Infra holds 100% stake in this subsidiary which is
engaged in providing business consultancy services in the field of engineering.
This subsidiary has reported revenues of Rs.1212.479 Millions for 2010-11 as
against Rs.0.940 Millions in the previous year. The net profit for the year is
Rs.262.390 Millions as against loss of Rs.8.673 Millions in 2009-10.
Ramky
Multi Product Industrial Park Limited
Ramky Multi Product Industrial Park Limited was incorporated
on December 13, 2010 for maintaining 'Multiproduct Industrial Park' to meet the
requirements of various industrial, manufacturing, service sectors. The company
is yet to start business and the SPV has reported gross revenue of Rs.0.054
Million from interest income while the net loss was Rs.0.126 Million in
2010-11.
Srinagar
Banihal Expressway Limited
This special purpose vehicle is incorporated with a view to
design, build, construct, develop, operate and maintain so as to rehabilitate,
strengthen and four laning of Srinagar Banihal section of NH-1A from km 187.00
to km 189.350 (Banihal Bypass) and km 220.700 to km 286.110 and improvement of
km 187.000 to Km 220.700 (Existing 2-lane road) on DBFOT (Annuity) basis in the
state of Jammu and Kashmir. Ramky Infra holds 74% in this SPV, which is yet to
start operations and reported a net loss of Rs.0.216 Million.
JOINT VENTURES
NAM Expressway Limited
Ramky
Infra has acquired a 50% interest in NAM Expressway Limited, which was incorporated
on June 15, 2010 for designing, constructing, operating and maintaining four
lanes of the Narketpalli- Addanki- Medaramitla Road (SH-2) in Andhra Pradesh.
The construction of road work has since started and reported revenue of
Rs.29.161 Millions from interest income and profit of Rs.2.594 Millions
Jorabat Shillong Expressway Limited
Ramky
Infra has acquired a 50% interest in Jorabat Shillong Expressway, which was
incorporated on June 18, 2010 for developing four lanes of the Jorabat Shillong
(Barapani) section of NH-40 from Km 0.00 to Km 61.80 in Assam and Meghalaya on
a 'design, build, finance, operate and transfer' basis the Special Accelerated
Road Development Programme for North East Regions on a BOT (Annuity) basis. The
road construction has since started. The SPV has reported a net loss of
Rs.6.677 Millions.
ASSOCIATES
Ramky
Integrated Township Limited
Ramky Integrated Township Limited, in which Ramky Infra has
a 29.19% equity interest, is developing an integrated township project called
Discovery City on 374.60 acres of land in Srinagar Village, Maheshwaram Mandal,
Ranga Reddy District in Andhra Pradesh on a BOO basis. The business of the
company is yet to be started and has reported gross revenue of Rs.0.442
Millions from interest income while the net loss was Rs.1.586 Millions in
2010-11.
OUTLOOK
The strong order book position coupled with thrust given by
the government for infrastructure sector augurs well for the Company, being one
of the leading companies in infrastructure development.
Ramky Infra is striving to secure high value contracts so as
to increase the focus and improve on the operating margins. The Company is also
working towards generating revenues from Public- Private-Partnership segments
and is consciously making efforts to win new projects with in-built clause for
price escalation, to protect the margins, and mitigate the impact of inflation.
COMPANY
OVERVIEW
Subject is an integrated construction, infrastructure development
and management company headquartered in Hyderabad, India. The Company
diversified in a range of construction and infrastructure projects in various
sectors such as water and waste water, transportation, irrigation, industrial
construction and parks (including SEZs), power transmission and distribution,
and residential, commercial and retail property. Subject operates in two
principal business segments: The construction business operated directly by the
Company; and the developer business operated through its subsidiaries, jointly
controlled entities and associates. A majority of the development projects are
based on public private partnerships and are operated by separate special
purpose vehicles promoted by company, JV partners and respective governments.
BASIS
OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared and presented
under the historical cost convention on the accrual basis of accounting and
comply with the Accounting Standards (AS) prescribed by Companies (Accounting
Standards) Rules, 2006, other pronouncements of the Institute of Chartered
Accountants of India (ICAI) and the relevant provisions of the Companies Act,
1956, (the 'Act') to the extent applicable.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Contingent
liabilities |
|
|
|
1.
Guarantees issued by banks |
11628.800 |
8437.100 |
|
2.
Guarantees issued by the Company on behalf of
subsidiaries, joint ventures and group companies |
4703.200 |
4251.600 |
|
3.
Letters of credit outstanding |
540.600 |
954.600 |
|
|
|
|
|
|
|
|
|
Claims against
the Company not acknowledged as debts (including interest and penalty
demanded) in respect of: |
|
|
|
1.
Sales tax/VAT matters, under dispute |
209.100 |
189.400 |
|
2.
Income tax matters |
661.600 |
500.500 |
|
3.
Service tax matters, under dispute |
896.100 |
258.100 |
|
4.
Disputed claims from customers and vendors |
59.000 |
67.700 |
FIXED ASSETS
· Freehold land
· Buildings
· Plant and machinery
· Furniture and fixtures
· Office equipment
· Vehicles
· Computers
WEBSITE DETAILS:
OVERVIEW:
Subject is an integrated construction, infrastructure
development and management company in India. Since the commencement of its business
in 1994, the Company has done a range of construction and infrastructure
projects in various sectors such as water and waste water, transportation,
irrigation, industrial construction and parks (including SEZs), power
transmission and distribution, and residential, commercial and retail property.
Headquartered in Hyderabad, Andhra Pradesh, RIL has five zonal offices and
three regional offices to manage its business operations throughout India and
an office at Sharjah in the United Arabic Emirates. The pan-India presence has
enabled the Company to service the growing infrastructure needs across the
country.
Company is the flagship company of Ramky Group, a group of
affiliated companies doing a range of construction and infrastructure projects
in all the major sectors apart from providing services in waste management,
environmental consulting, finance and accounting, data management, indirect
procurement, real estate development, pharmaceuticals and emerging
technologies.
Company operates in two principal business segments: The
construction business operated directly by the Company; and the developer
business operated through 16 subsidiaries and three associates. A majority of
the development projects are based on public private partnerships and are operated
by separate special purpose vehicles promoted by Company, JV Partners and
respective governments. Company’s wholly owned subsidiary in the UAE, Ramky
Engineering and Consulting Services FZC, operates a small consultancy business
in areas such as infrastructure development, waste management, environment and
property development.
Company owns a large fleet of sophisticated construction
equipment, including: crushing plants, hot mix plants, wet mix plants, asphalt
batching plants, concrete batching plants, excavators, rock breakers, graders,
pavers, compactors, tower cranes, dozers, bar bending and cutting machines. The
Company’s workforce, as on 31 March 2011, consisted of 2429 full-time employees
on a stand alone basis. The workforce, machinery assets, financial net worth
and past execution capabilities enable the Company to undertake many
large-scale projects.
Company is ISO 9001:2008 and ISO 14001:2007, OHSAS 18001
certified for quality management systems, earned Management Systems and
Occupational Health and Safety Management Systems which the Company applies to
the design, development, engineering, procurement and construction of projects.
The Company has also received several awards, including the 2005 Best
Construction Award from the Government of Rajasthan, the 2005 Outstanding
Concrete Structure Award from the Indian Concrete Institute, the Best Project
Award 2007-08 for the Married Accommodation Project at Amritsar from Central
Public Works Department, Government of India, the Infrastructure Excellence
Award 2008 in the Urban Infrastructure Category from CNBC TV18 and Essar Steel,
the winner in Silver category of the prestigious Greentech Safety Award 2010,
the Water Digest’s Water Awards 2009-2010 in the category of Best Water
Conserver – Waste Water Management, the 11th Global Greentech Environment
Excellence Award 2010 for the 80 MLD Sewage Treatment Plant at Airoli, Mumbai,
the prestigious Greentech Safety Award 2011in the Gold category, the Water
Awards 2010-11 as a ‘Distinguished Water Company’ from the Water Digest Awards
and the Engineer of the Year Award in 2005 for Mr. A Ayodhya Rami Reddy, the
Chairman of the Ramky Group, from the Government of Andhra Pradesh and the
Institution of Engineers (India).
CONSTRUCTION
BUSINESS
Company operates
in construction business and undertakes projects in the following sectors:
· Water and waste water projects such as water treatment plants, water transmission and distribution systems, elevated reservoirs and ground level service reservoirs, sewage treatment plants, common effluent treatment plants, tertiary treatment plants, underground drainage systems and lake restorations (Water and Waste Water sector);
· Irrigation projects such as cross-drainage works, lift irrigation projects, dams and barrages (Irrigation sector);
· Industrial construction projects such as industrial parks, SEZs and related works (Industrial sector);
· Transportation projects such as expressways, highways, bridges, flyovers and dedicated service corridors (Transportation sector);
· Building construction which includes commercial, residential, public, institutional and corporate buildings, mass housing projects and related infrastructure and facilities such as hospitals and shopping malls (Building Construction sector); and
· Power transmission and distribution projects such as electricity transmission networks, substation feeder lines and low tension distribution lines (Power Transmission and Distribution sector).
HISTORY
AND MILESTONES
The Company was originally incorporated as Ramky Engineers
Private Limited on 13 April 1994 to undertake construction projects. In 1998,
the Company diversified into construction and began to undertake civil and
environmental EPC projects. The early construction projects were primarily
concentrated in the water and waste water sector. Subsequently, the Company
expanded into roads, buildings, irrigation and industrial construction. The
Company then decided to leverage opportunities in infrastructure construction
and on 23 June 2003, Ramky Engineers Private Limited was renamed as Ramky
Infrastructure Private Limited. On 24 June 2003 Ramky Infrastructure Private
Limited was converted into a public limited and became Ramky Infrastructure
Limited.
|
Calander Year |
Milestone / Achievement |
|
Apr
1994 |
Incorporation of the Company |
|
1995 |
· Expanded operations to include water and waste water segment projects. |
|
1997 |
· Expanded operations to include government works in addition to private contracting. |
|
1998 |
· Expanded operations to include segments like buildings, irrigation, roads and industrial structures. |
|
2002 |
· Expanded area of operations with projects in the states of Tamil Nadu, Karnataka, Kerala, Maharashtra, Gujarat, Rajasthan, Punjab, Delhi, Uttar Pradesh, West Bengal and Orissa. |
|
2003 |
· Name of the Company changed from ‘Ramky Engineers Private Limited’ to ‘Ramky Infrastructure Limited’. · Entered into a PPP for infrastructure projects through Deheradun’s Inter-State Bus Terminal, a private sector bus terminal on a BOT basis. · Amendment of Clause III of the MOA to enlarge the objects clause of the Company to include development of infrastructure facilities and waste management as the main objects. |
|
2004 |
· Signed concession agreement with Andhra Pradesh Industrial Infrastructure Limited for development of first Pharma City in India at Visakhapatnam, Andhra Pradesh on BOT basis under Public-Private Partnership scheme. · Incorporated Ramky Pharma City (India) Limited - a Special Purpose Vehicle to carry out the development of Pharma City |
|
2005 |
· Received the ‘Best Contractor’ award from the Government of Rajasthan. · Mr. Alla Ayodhya Rami Reddy, received the ‘Engineer of the Year Award – 2005’ from the Government of Andhra Pradesh and the Institution of Engineers (India). · Received the Indian Concrete Institute’s ‘2005 Outstanding Concrete Structure Award’ for Gandhi Medical College and Hospital Complex in Hyderabad. · Commenced construction of one of the Asia’s largest sewage treatment plants (172 MLD) with uplift an aerobic sludge blanket process, at Nagole Hyderabad. |
|
2006 |
· Entered into a share subscription and shareholders’ agreement with SAPE and Tara India Fund III for purchase of equity shares and securities of the Company. · Expanded operations to include power transmission projects. · Completed the construction of the Paryatak Bhavan Complex in Hyderabad, a venture with the Andhra Pradesh Tourism Development Corporation. |
|
2007 |
· Launched Ramky Elsamex Hyderabad Ring Road Limited an SPV for the development and construction of the Hyderabad Ring Road, a 150m wide road cum area development corridor with an eight lane controlled access expressway. · Commenced the developer business. |
|
2008 |
· Best Project Award for the Married Accommodation Project at Amritsar from Central Public Works Department, GOI. · Infrastructure Excellence Award 2008 in the Urban Infrastructure Category from CNBC TV18 and Essar Steel, |
|
2009 |
· Received an award for commendable water conserver-waste water management by the Water Digest. |
|
2010 |
· 80 MLD STP at Airoli, Navi Mumbai Project bagged the Essar Steel – Infrastructure Excellence Awards in the category of Urban Infrastructure given by CNBC TV18 and Essar Steel |
|
2011 |
· Received Water Digest Water Award under the Best water Conserver – Waste Water Management Category for 80 MLD Airoli Project in Mumbai. |
MANAGEMENT:
Brief Profile of the Directors
Mr. Alla Ayodhya Rami Reddy (48)
is the Chairman of Company. He is the Founder / Promoter of the Company and has
been on the Board since the incorporation of the Company. He was appointed
Chairman by a resolution at the EGM held on July 12, 2007. He has a Bachelor’s
Degree in Civil Engineering from Karnataka University and a Masters Degree in
Civil Engineering from Osmania University. He has 27 years of experience in the
field of environmental services, civil works, bio-medical waste and hazardous
waste management. He has worked for a number of water, waste water, and
engineering projects, notably with Gannon Dunkerly and Company, Reliance
Industries Limited from 1984 to 1988 and also worked for various projects on
Turnkey EPC basis till 1995. He is currently responsible for strategy and
direction of the Company.
He has several distinctions to his portfolio, including
being accredited with best “Engineer of the Year Award” in 2005 by the Government
of Andhra Pradesh and the Institution of Engineers (India). He also started the
Ramky Foundation, which supports the needy through various schemes related to
empowerment of women, awareness camps for social causes, career counselling,
communication skills, environment management and providing financial aid for
educational activities etc.
Mr. YR Nagaraja (49) is the Managing Director of
Company. He has been a Director of the Company since its incorporation and has
been the Managing Director since 1996. He was re-appointed Managing Director at
the EGM held on July 12, 2007. He has a Bachelor’s Degree in Civil Engineering
from Karnataka University. He has 26 years of experience in the field of
environment and solid waste management. His experience includes positions he
has held with the Public Works Department of Karnataka, Mandanlal Steels
Limited and Navega Engineers Private Limited. He has to his credit the
successful implementation of a number of civil infrastructure and environmental
projects. He is currently responsible for overall management of the Company.
Mr. Rajiv Maliwal (51) is a non-executive Director
of the Company. He was appointed a Director at the AGM held on September 29,
2007. He holds a Degree in Mechanical Engineering (Honours) from Birla
Institute of Technology and Science, Pilani and a Post Graduate Degree in
Business Administration from IIM, Bangalore. He was co-founder of Sabre Capital
Worldwide Incorporated and has 25 years of experience in managing large
businesses in the financial services industry. He has previously worked with
Lotus India, Standard Chartered Bank in Singapore, ANZ Grindlays, Goldman Sachs
in Hong Kong, JP Morgan in Singapore and Citibank India. He was involved in the
recapitalisation and restructuring by Sabre Group of Centurion Bank and in
setting up an asset management business, Lotus India, as a joint venture with a
subsidiary of Temasek Holdings.
Dr. Archana Niranjan Hingorani (46)
is a non-executive Director of the Company. She was appointed a Director at the
AGM held on September 29, 2007. She has a Masters Degree in Business
Administration and a Ph.D. in Finance from the University of Pittsburgh, USA.
She is currently the Executive Director of IL&FS Investment Managers Ltd
and has over 24 years of experience in financial services, teaching and
research, with focus on private equity, project finance and financial
restructuring, and specialisation in infrastructure, manufacturing and more
recently in real estate projects. She is one of the founding members of the
IL&FS’s private equity business and has been associated with the IL&FS
group of companies for the last 16 years in various capacities.
Mr. V Murahari Reddy (68) is an independent Director
of the Company. He was appointed a Director at the AGM held on September 30,
2008. He has a Bachelor’s Degree in Civil Engineering (Honours) from SV
University, Tirupati. He has worked in various positions in Roads &
Buildings Department, Government of Andhra Pradesh and retired as
Engineer-in-Chief (R&B). He has also worked as the Commissioner,
Commissioner ate of Tenders Government of Andhra Pradesh. He was the Managing
Director of the Andhra Pradesh Road Development Corporation. He has acted as a
Consultant to various State Governments and the World Bank in relation to
development projects and has been appointed an arbitrator in various matters
involving the NHAI and state governments. He is currently a visiting faculty at
various institutes, including the National Institute for Training of Highway
Engineers.
Dr. P.G. Sastry (74) is an independent Director
of the Company. He was appointed a Director at the AGM held on September 30,
2008. He has a Bachelor’s Degree in Civil Engineering (Honours) and a Master’s
Degree in Civil Engineering from the Indian Institute of Technology, Kharagpur
as well as a Doctorate in Engineering from Technical University, Dresden,
Germany. He has served as the Chairman of the Environmental Appraisal
Committee, Ministry of Environment and Forests, Government of India and has
also been the Principal of the Mahatma Gandhi Institute of Technology,
Hyderabad as well as the Jayaprakash Narayan College of Engineering,
Mahabubnagar, Andhra Pradesh. He was a training specialist of the World Bank
Aided Hydrology Project. He was an Alexander Von Humboltt Post Doctoral Fellow
on global Competition and carried out ground water modelling. He was also a
visiting professor at the Ohio Agriculture Research and Development Centre of
the Ohio State University. Currently he is the Dean, Administration and
Academic of Srinidhi Institute of Science and Technology and has also been
designated as Adviser to Andhra Pradesh Government on Technical Education. He
is also the Director of Srinidhi – Vaught Institute of Aviation Technology,
Hyderabad.
Mr. Kamlesh Shivji Vikamsey (51)
is an independent Director of the Company. He was appointed a Director at the
AGM held on September 29, 2007. He has been a Chartered Accountant by
profession since 1982. He has served on various expert committees set up by the
Finance Ministry, the Reserve Bank of India and the Securities and Exchange
Board of India and also served on the Steering Committee of the United Nations.
Previously, he was the President of the Institute of Chartered Accountants of
India, New Delhi, a part time member of the Insurance Regulatory and
Development Authority of India and President of the Confederation of Asian and
Pacific Accountants, Hong Kong. He has served as a member of various advisory
and expert committees at national and international levels, including as a
Member of the Steering Committee for Comprehensive Review of Governance and
Oversight within the United Nations and as a Member of the Secondary Market
Advisory Committee of the SEBI.
Mr. V. Harish Kumar (45) is an independent Director
of the Company. He was appointed a Director in October 2007. He has a
Bachelor’s Degree in Commerce, a Post Graduate Diploma in Direct Taxes and a
Bachelor’s Degree in Law from Osmania University, Hyderabad. Previously he had
set up his practice as a company secretary and thereafter has been associated
with Harish Kumar and Associates as a corporate lawyer. At present he is a
member of the Andhra Pradesh High Court Advocates Association, Bar Council,
Andhra Pradesh, Institute of Company Secretaries of India, an honorary member
of the Round Table India and a member of the Society of Free Masons.
KEY MANAGEMENT PERSONNEL
In addition to the Directors, the following are the Key
Management Personnel of the Company.
Mr. Shuvendu Sekhar Mohanty (58)
is the Chief Executive Officer (Cash Contracts) of the Company. He has done PG
Diploma in Management from IIM, Ahmedabad, and B. Sc Engineering (Mechanical)
from NIT, Rourkela. He brings leadership in managing enterprises and also is an
entrepreneur across a spectrum of Industries and functions. He joined Ramky
from RSB Transmission, Pune, where he was the President. He also worked for
companies like Sibelco Asia (India Operations) as Country Head, India Meters
Limited, Chennai as Director of Meters Division and also as VP (Marketing),
Nagarjuna Signode Limited, Hyderabad as All India Sales Manager, TEGA India
Limited, Kolkata and Bharat Forge Company Limited. For About 12 years he
founded and ran Kaizen Auto, his own enterprise as a vendor to Telco, which
gives him entrepreneurial insights.
Mr. L Pundareek (61) is the Director of the
Energy Sector of the Company. He joined the Company in July 2010 and has 37
years of experience in the field of testing and commissioning of Steam
Turbines, Gas Turbines, Generators, Heat Exchangers, Gear boxes and Ejectors.
He has BE - Mechanical from Osmania University. He has previously been employed
by BHEL for 36 years. He is currently responsible for the development of the
power sector of the Company.
Mr. RS Garg (55) is the Chief Financial Officer of
the Company. He has joined the Company on April 21, 2011. He brings with
himself 30 years of experience in Fund raising, Treasury Management, Legal,
Commercial and Accounting functions, having worked in India and Abroad with
companies like Hyderabad Industries Limited, Usher Technologies Private
Limited, Bakelite Hylam Limited, Nagarjuna Group, ITW India Limited, USA,
Rajasthan Explosives and Chemicals Ltd. He has hands on exposure on designing
and implementation of Planning and Control Systems. He is F.C.A., A.C.S.,
besides B.Com from Rajasthan University. He would be reporting to the Managing
Director, Company.
Mr. C Sreenivasan (53) is the Chief People Officer
(CPO) of the Company. He joined the Company in 2010 and has decades of hands-on
exposure in the entire gamut of HR management and worked with companies like
Lanco, ING Bank, NTPC and GMR. His key skill set is Strategic Recruitments,
Development of Customised OD Initiatives, Performance Management System,
Balanced Score Card, Policy Formulation and Policy Deployment. He has done his
M.Com, MA, LL.B, MBA, and PG Diploma in IR&PM.
Mr. P Nagarjuna Rao (50) is the Group Supply Chain
Officer of the Company. He joined the Company in August 2010 and has 29 years of
experience in the field of construction management and supply chain management.
He has DEE from Indian Air Force, a degree in electrical engineering from the
Institution of Engineers (India), Graduate Diploma in materials management from
the Indian Institute of Materials Management, Post Graduate Diploma in
Management from IGNOU, and also MBA-Finance from IGNOU. He has previously been
employed by Indian Air Force, Hindustan Aeronautics Limited, Reliance Global
Management Services, Tata Teleservices and Maytas Properties Limited. He is
currently responsible for the Group Supply Chain function of the Company.
Mr. Aspun F Battiwala (48) is the Vice President
(Projects) of the Company. He joined the Company in September 2005 as General
Manager (Projects) for central zone and was promoted to his current post in
2007. He has nearly 23 years of experience in the field of construction
management, project management and execution. He has a Masters Degree in
Construction from Oklahoma State University, USA and a Bachelor’s Degree in
Civil Engineering from Manipal Institute of Technology. He has worked with
Shapoorji Pallongi and Company Limited, Kalpataru Construction Overseas Private
Limited, and Stup Consultants. He is currently responsible for the coordination
of various projects of the Company at different locations in India.
Mr. Dhiresh Nigam (49) is the Vice President
(Projects), Madhya Pradesh and Chhattisgarh region of the Company. He joined
the Company in May 2006 and has nearly 25 years of experience in diversified
fields relating to various construction activities like tunnelling, canal
works, building and road. He has a Bachelor’s Degree in Civil Engineering
(Honours) from A.P.S. University, Rewa. He has worked with Madhya Pradesh State
Electricity Board, Madhya Pradesh Secondary Education Board, Madhya Pradesh
State Development Corporation and Madhya Pradesh Road Development Corporation
holding positions such as executive engineer and general manager in these
organisations. He is currently responsible for operations of the Company in
Bhopal, specifically as the profit centre head.
Mr. Srinivas Bhogaraju (45) is the Vice President
(Projects) of the Company. He joined the Company in September 2009 and has 21
years of experience in the field of Building Projects, Industrial Structures,
Project Planning and Costing, Project and Contract Management. He has BE
(Civil) from IIT Mumbai and PGDIM from IGNOU. He has previously been employed
by L&T, ECC Division and Indu Projects Limited. He is currently responsible
for the Industrial Projects of the Company.
Mr. Vijaya Rami Reddy (37) is the General Manager
F&A of the Company. He joined the Company in April 2002 and has 16 years of
experience in the area of finance. He has done his M.Com from Bangalore
University. He has started career with Ramky Group. He is currently responsible
for the SBU operations of all verticals like Transportation, Buildings, Water
and Waste Water, Industrial Structures, Irrigation and Electrical Business
Division of the Company.
Mr. Durga Prasad P Rege (45) is the Associate Vice
President (Projects) of the company. He joined the company in March 2005 and
has 21 years of experience in the field of Industrial Water Treatment, Waste
Water Treatment, Air pollution control, Solid Waste Management. He has B. Tech
from Bombay Institute of Technology and Diploma in Business Management. He has
previously been employed by The Bombay Textile Research Association, Hindustan
Oliver Limited, Batliboi Environmental Engineering Limited and Enviro Control Associates
(I) Private Limited. He is currently responsible for the Water, Waste Water
sector of the Company.
Mr. Nityanand Pathak (42) is the Associate Vice
President (Projects) of the Company. He joined the Company in July 2009 and has
18 years of experience in the field of Residential and Commercial Buildings,
Infrastructure Projects, Water Supply and Sewerage Projects. He has done his BE
(Civil) from Government Engineering College, Bilaspur. He has previously been
employed by ESSAR Constructions Limited, Shapoorji Pallonji and Company
Limited. He is currently responsible for the Industrial Projects of the
Company.
Mr. N Venkata Reddy (48) is the General Manager,
Electrical Business Division of the Company. He joined the Company in April
2010 and has 23 years of experience in the field of Tendering, erection,
troubleshooting of 400/220/132 and 33/11, substations, Infra projects and High
voltage distribution systems. He has BE - Electrical and Electronics
Engineering from Andhra University. He has previously been employed by Sagar
Cements Limited, Nagarjuna Cement Limited, Priyadarshini Cement, Kuwait Cement
Company, ICSA India Limited, and Bharathi Cement. He is currently responsible
for the Electrical Business Division of the Company.
NEWS
INTEGRATED TOWNSHIP TO COME UP AT SRINAGAR
Times of India
12 September 2011
[What
follows is the full text of the news story.]
Hyderabad: Three
years after Hyderabad Metropolitan Development Authority (HMDA) inked an
agreement with Ramky Infrastructure Ltd for developing an integrated township
at Srinagar village in Maheshwaram mandal, the project is finally set to take
off. The HMDA approved the Detailed Project Report (DPR) a couple of days ago
and the works are expected to begin by the end of this year.
The township coming up on 750 acres will be executed in
three phases. In phase I, which is expected to take off by the end of this
year, the private developer Ramky will construct villas and apartments on 374 acres.
In phases II and III, the works will be taken up on 175 acres and 200 acres
respectively. The entire project is expected to be completed in six years.
Srinagar village is about 40 kms from city.
The joint venture project was proposed in 2007 and both HMDA
and the private developer signed an agreement in July 2008. The metropolitan
authority agreed to develop infrastructure like roads outside the township
areas and roads that lead to the township. However, the ambitious project got
mired in various problems, including the global meltdown, land acquisition from
farmers and court cases. Finally, the developer agreed to execute the project
in three phases, following which HMDA approved DPR.
Officials said of the total 750 acres, 200 acres belong to
HMDA while the remaining is private land that the developer has to acquire.
"HMDA will get Rs.1000.000 Millions premium from the developer as part of
the agreement. While Rs.250.000 Millions had already been paid at the time of
signing of the agreement, another Rs.250.000 Millions will be remitted by Ramky
within 30 days of the approval of DPR. The remaining Rs.500.000 Millions will
be paid by Ramky in later phases. Apart from the development premium, the urban
development authority will also get charges like building permissions and
betterment charges from the developer," a senior official of HMDA told
TOI.
Sources said, for the phase I works the developer has
acquired almost the entire 375 acres needed from farmers who will get cash
compensation as well as plots in the developed land. In the phase II, of the
175 acres of land proposed for the integrated township, about 105 acres of land
is caught up in legal wrangles as the farmers are opposing the township. For
the phase III, of the 200 acres identified for the project in survey No 192 of
Srinagar village owned by the revenue department, about 17 acres is mired in
court cases.
Since the major chunk of land was assigned to the landless
poor by the state government more than a decade ago and the land is being resumed
by HMDA not for public purpose, the chief commissioner of land administration
has asked HMDA to pay Rs.25 lakh per acre to the RR district administration of
which Rs.450.000 Millions would be treated as the land cost and another
Rs.130.000 Millions to be given as solatium to the assignees for having resumed
their land. But the HMDA metropolitan commissioner reportedly told the RR
district officials that they would give 300 sq yards land and some cash to each
assignee who stands to lose their land to the township. "The issue has not
yet been sorted out. The urban development authority is not in a position to
pay the land cost and solatium to the assignees," another official of the
HMDA said.
INDIA'S RAMKY INFRA
BAGS CONTRACTS WORTH US$219 MLN
Asia Pulse Business
wire
07 September 2011
[What follows is the
full text of the news story.]
New Delhi, Sept 7Asia Pulse – India's Ramky Infrastructure said it has received construction orders worth Rs.10060.000 Millions (US$219 million) from various firms, including Reliance Infrastructure (BSE: 500390) and Hindustan Construction (BSE:500185).
"Ramky Infrastructure has secured new orders aggregating Rs.10060.000 Millions across building, industrial, water and waste water, road and power sectors," the company said in a statement Tuesday.
The Hyderabad-based firm which bagged orders from different parts of the country like Odisha and Gujarat, was also given a project worth Rs.1090.000 Millions by Reliance Infrastructure Limited to carry out some construction work at its Sasan Ultra Mega Power Project in Madhya Pradesh, it said.
"Similarly in Orrisa, the company has been awarded a project from Hindustan Construction Company Limited for general, civil and arch work at Lapanga for a value of Rs.599.200 Millions," the statement added.
Various other companies from which the orders were received by the construction firm, includes Purvankara Projects Limited and River View Properties Private Limited among others, it said.
RAMKY INFRASTRUCTURE BAGS
ORDERS WORTH RS.10060.000 MILLIONS
Accord Fintech
(India)
06 September 2011
[What
follows is the full text of the news story.]
India,
Sept. 06 -- Ramky Infrastructure has bagged orders worth Rs.10060.000
Millions across buildings, industrial, water and waste water, road and power
sectors from various states in India. Which include Rs.2073.500 Millions order
from Puravankara Projects for construction of civil works for a residential
project in Chennai, Tamilnadu and Rs.1091.200 Millions order from Reliance
Infrastructure for construction and general civil work for a coal handling
plant, and workshop, roads, drains and boundary for the Sasan ultra mega power
project in Madhya Pradesh. While the Puravankara project is to be completed in
21 months, the Reliance Infra project has tenure of 20 months. The contract
also includes infrastructure work order for water supply projects in Rajasthan
worth about Rs.2190.000 Millions and a residential project in Maharashtra
valued at Rs.744.100 Millions. The company has also received orders from
Haryana, Gujarat, Madhya Pradesh, Maharashtra, Karnataka and Orissa. Ramky
Infrastructure, the flagship company of the Ramky Group, is engaged in
construction and infrastructure development, operation and management. It has serviced
a diverse range of construction and infrastructure projects in sectors as
varied as water and waste water, transportation, irrigation, industrial parks
(including SEZs), power transmission and distribution, residential, commercial
and retail property. Published by HT Syndication with permission from Accord
Fintech.
RAMKY INFRASTRUCTURE BAGS RS.10060.000 MILLIONS PROJECTS
United News of India
06 September 2011
[What
follows is the full text of the news story.]
Hyderabad,
Sept. 6 -- The city-based Ramky Infrastructure Limited (RIL), a
flagship company of Ramky Group, today said it has bagged projects worth
Rs.10060.000 Millions covering industrial, water and waste water, power and
building verticals. The projects will be implemented in several states which
include Tamilnadu, Madhya Pradesh, Maharashtra, Karnataka, Gujarat, Orissa,
Haryana, Rajasthan, West Bengal and Andhra Pradesh. The company also won a host
of awards for creating excellence in infrastructure development, the company
release said here. The release said in the prestigious construction week
awards, 2011, RIL has been awarded with the Contractor of the Year-Editorial
Choice Award, Sustainable Project of the Year-Jury Special Commendation,
Corporate Social Responsibility Award-Runner-up. The company has also bagged
the prestigious Gold and Silver awards in the competition held by Quality
Circle Forum of India (QCFI) here recently. The awards from renowned
organisations are the testimony to the excellence that the company has been
delivering, Y R Nagaraja, Managing Director, RIL said. UNI VV RKM AS1728
Published by HT Syndication with permission from United News of India.
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 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.47.47 |
|
|
1 |
Rs.74.96 |
|
Euro |
1 |
Rs.65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
65 |
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.