MIRA
INFORM REPORT
|
Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
LANCO INFRATECH LIMITED |
|
|
|
|
Registered
Office : |
Plot No.4, Software Units Layout, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.03.1993 |
|
|
|
|
Com. Reg. No.: |
01-015545 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2387.193 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45200AP1993PLC015545 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDL00805A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL3499H |
|
|
|
|
Legal Form : |
A Public Limited
Liability Company. Company’s Shares are listed on the stock Exchange. |
|
|
|
|
Line of Business
: |
Subject is engaged in Construction and Development of Infrastructure
Facilities, Property Development, Generation of Power and Trading in Power. |
|
|
|
|
No. of Employees
: |
Around 3200 (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 138000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having good track.
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 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 : |
Plot No.4, Software Units Layout, |
|
Tel. No.: |
91-40-40090400 |
|
Fax No.: |
91-40-23116109 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Lanco House, Plot No 397 Udyog Vihar, Phase III Gurgaon
122 016, Haryana, India |
|
Tel. No.: |
91-124-4741000 - 044 |
|
Fax No : |
91-124-4741764 |
|
|
|
|
Factory : |
Plot No. 229, Udyog Vihar, Phase No. I, Gurgaon – 122 016, |
|
Tel. No.: |
91-124-4691000/ 46910001/ 46910002/ 46910003/ 46910004 |
|
Fax No.: |
91-124-46910005 |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. L. Madhusudhan Rao |
|
Designation : |
Executive Chairman |
|
Date of Birth/Age : |
42 Years |
|
Qualification ; |
M. Tech, M.S. (Industrial Engg) |
|
Experience : |
19 Years |
|
|
|
|
Name : |
Mr. G. Bhaskara Rao |
|
Designation : |
Executive Vice Chairman |
|
Date of Birth/Age : |
53 Years |
|
Qualification ; |
M.E. (Mechanical Design) |
|
Experience : |
27 Years |
|
|
|
|
Name : |
Mr. L. Sridhar |
|
Designation : |
Vice- Chairman |
|
|
|
|
Name : |
Mr. G. Venkatesh Babu |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Dr. P. Kotaiah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. P. Abraham |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Uddesh Kumar Kohli |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. P. Narasimharamulu |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. B. Vasanthan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. J. Suresh Kumar |
|
Designation : |
Chief Financial Officer |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
ACA |
|
Experience : |
13 Years |
|
Date of Commencement : |
01.04.2006 |
|
|
|
|
Name : |
Mr. C. Krishna Kumar |
|
Designation : |
Executive Director and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
219,519,903 |
9.12 |
|
|
1,353,712,439 |
56.22 |
|
|
167,736,439 |
6.97 |
|
|
92,593,586 |
3.85 |
|
|
610,415 |
0.03 |
|
|
74,532,438 |
3.10 |
|
|
1,740,968,781 |
72.31 |
|
|
|
|
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
1,740,968,781 |
72.31 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1,636,227 |
0.07 |
|
|
44,966,653 |
1.87 |
|
|
287,934,891 |
11.96 |
|
|
334,537,771 |
13.89 |
|
|
|
|
|
|
|
|
|
|
91,076,085 |
3.78 |
|
|
|
|
|
|
|
|
|
|
175,933,659 |
7.31 |
|
|
32,737,883 |
1.36 |
|
|
|
|
|
|
32,550,741 |
1.35 |
|
|
12,210 |
- |
|
|
13,749,751 |
0.57 |
|
|
18,117,190 |
0.75 |
|
|
669,910 |
0.03 |
|
|
1,680 |
- |
|
|
332,298,368 |
13.80 |
|
|
|
|
|
Total Public
shareholding (B) |
666,836,139 |
27.69 |
|
|
|
|
|
Total (A)+(B) |
2,407,804,920 |
100.00 |
|
|
|
|
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
|
|
|
Total
(A)+(B)+(C) |
2,407,804,920 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Directors/Promoters & their Relatives
& FriendsBUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Construction and Development of
Infrastructure Facilities, Property Development, Generation of Power and
Trading in Power. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed Capacity |
|
Licensed Capacity |
Not Applicable |
|
Installed Capacity (MW)# |
18 |
|
Actual Generation (Lakhs Kwh) |
268.98 |
|
Auxiliary Consumption (Lakhs Kwh) |
1.89 |
|
Units Sold (Lakhs Kwh) |
266.31 |
GENERAL INFORMATION
|
No. of Employees : |
Around 3200 (Approximately) |
|
|
|
|
Bankers : |
·
Allahabad Bank ·
Andhra Bank ·
Bank of Baroda ·
Bank of Maharashtra ·
Canara Bank ·
Central Bank of India ·
Corporation Bank ·
DBS Bank Limited ·
Dena Bank ·
HDFC Bank Limited ·
ICICI Bank Limited ·
IDBI Bank Limited ·
Indian Overseas Bank ·
IndusInd Bank Limited ·
Infrastructure Development Finance Company
Limited ·
ING Vysya Bank Limited ·
Kotak Mahindra Bank Limited ·
Life Insurance Corporation of India ·
Oriental Bank of Commerce ·
Punjab and Sind Bank ·
Punjab National Bank ·
Srei Infrastructure Finance Limited ·
State Bank of India ·
State Bank of Mysore ·
State Bank of Bikaner and Jaipur ·
State Bank of Hyderabad ·
State Bank of Patiala ·
Syndicate Bank ·
Tata Capital Limited ·
The Catholic Syrian Bank Limited ·
The Jammu and Kashmir Bank Limited ·
UCO Bank ·
Union Bank of India ·
United Bank of India ·
Vijaya Bank ·
Yes Bank Limited ·
Axis Bank Limited |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
Ř
Tata Capital Limited Ř
Infrastructure Development Finance company
Limited |
|
|
|
|
Auditors 1 : |
|
|
Name : |
S.R. Batliboi and Associates C Chartered Accountants |
|
Address : |
Golf View Corporate Tower – B, Sector – 42, Sector Road, Gurgaon – 122002,
Haryana, India |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Brahmayya and Company Chartered Accountant |
|
Address : |
No.48, |
|
|
|
|
SUBSIDIARIES : |
1.
Lanco Kondapalli Power Limited (Formerly Lanco
Kondapalli Power Private Limited (LKPL)) 2.
Lanco Tanjore Power Company Limited (Formerly
Aban Power Company Limited (APCL)) 3.
National Energy Trading and Services Limited
(Formerly Lanco Power Trading Limited (NETS)) 4.
Lanco Teesta Hydro Power Private Limited
(Formerly Lanco Energy Private Limited (LTHPPL)) 5.
Lanco Budhil Hydro Power Private Limited
(Formerly Lanco Green Power Private Limited (LBHPPL)) 6.
Lanco Hydro Power Ventures Private Limited
(LHPVPL) 7.
Vamshi Industrial Power Limited (VIPL) 8.
Vamshi Hydro Energies Private Limited (VHEPL) 9.
Lanco Mandakini Hydro Energy Private Limited
(Formerly Lanco Hydro Energies Private Limited (LMHEPL)) 10.
Lanco Power Limited ( Formerly Lanco Amarkantak
Power Limited (LPL)) 11.
Mercury Projects Private Limited (MPPL) 12.
Lanco Wind Power Private Limited (LWPPL) 13.
Lanco Solar Private Limited (LSPL) 14.
Lanco Vidarbha Thermal Power Limited (Formerly
Lanco Vidarbha Thermal Power Private Limited (LVTPL)) 15.
Amrutha Power Private Limited (APPL) 16.
Spire Rotor Private Limited (SRPL) 17.
Lanco Solar Energy Private Limited (Formerly
Lanco Solar Projects (India) Private Limited (LSEPL)) 18.
Bhanu Solar Projects Private Limited (BSPPL) 19.
Diwakar Solar Projects Private Limited (DSPPL) 20.
Khaya Solar Projects Private Limited (KSPPL) 21.
Himavat Power Private Limited (HPPL) 22.
Arneb Power Private Limited(ArPPL) 23.
Regulus Power Private Limited (Formerly Nandigama
Power Private Limited (RPPL)) 24.
Lanco Kanpur Highways Limited (LKHL) 25.
JH Patel Power Project Private Limited (JhPL) 26.
Lanco Hills Technology Park Private Limited
(LHTPPL) 27.
Telesto Properties Private Limited (Formerly
Coral Agro Estates Pvt. Limited (TePPL)) 28.
Cordelia Properties Private Limited (Formerly
Garnet Agro Estates Pvt. Limited (CPCL)) 29.
Dione Properties Private Limited (Formerly
Diamond Farms Pvt. Limited (DPPL)) 30.
Deimos Properties Private Limited (Formerly Ruby
Agro Farms Pvt. Limited (DePPL)) 31.
Pearl Farms Private Limited (PFPL) 32.
Uranus Projects Private Limited (UPPL) 33.
Neptune Projects Private Limited (NPPL) 34.
Cressida Properties Private Limited (CrPPL) 35.
Leda Properties Private Limited (LPPL) 36.
Thebe Properties Private Limited (ThPPL) 37.
Uranus Infratech Private Limited (UIPL) 38.
Coral Orchids Private Limited (COPL) 39.
Jupiter Infratech Private Limited (JIPL) 40.
Lanco Solar Services Private Limited 41.
Lanco Infratech (Mauritius) Limited (LIML) 42.
Lanco International Pte Limited (Formerly Lanco
Enterprise PTE Ltd (LInPL)) 43.
P.T Lanco Indonesia Energy (LInE) 44.
Lanco Solar Holding Netherland B.V 45.
Lanco Solar International Pte Limited 46.
Lanco Holding Netherland B.V 47.
Green Solar SRL 48.
Lanco Enterprise Pte Limited (China) 49.
Lanco Solar International Limited – LSIL 50.
Lanco Italy PV 1 Investments B.V 51.
Lanco Italy PV 2 Investments B.V 52.
Lanco Spain PV1 Investments B.V 53.
Lanco Solar International USA Inc. 54.
LE New York – LLC 55.
Lanco Resources International Pte Limited (LRIPL)
56.
Lanco Power International Pte Limited 57.
Lanco Resources Australia Pty. Limited (LRAPL) 58.
The Griffin Coal Mining Company Pty Limited 59.
Carpenter Mine Management Pty Limited 60.
Lanco Energy Africa 61.
Inversion Solar Andalucia 14 SL 62.
Lanco Rocky Face Land Holdings LLC 63.
Lanco Tracy City Land Holding LLC (USA) 64.
Lanco North Park Land Holding One LLC (USA) 65.
Lanco North Park Land Holding Two LLC (USA) 66.
Apricus S.R.L 67.
Lanco Solar Project Development SL |
|
|
|
|
ENTERPRISES
WHERE SIGNIFICANT
INFLUENCE EXISTS |
1.
Udupi Power Corporation Limited (UPCL) 2.
Lanco Hoskote Highway Private Limited (LHHPL) 3.
Lanco Devihalli Highways Private Limited (LDHPL) 4.
Ananke Properties Private Limited (AnPPL) 5.
Bianca Properties Private Limited (BiPPL) 6.
Belinda Properties Private Limited (BePPL) 7.
Tethys Properties Private Limited (TPPL) 8.
Portia Properties Private Limited ( Formerly
Garnet Groves Private Limited (PPPL)) 9.
Lanco Anpara Power Limited (LAnPL) 10.
Lanco Babandh Power Limited (LBPL) 11.
Charon Trading Private Limited (CTPL) 12.
Mimas Trading Private Limited (MTPL) 13.
Phoebe Trading Private Limited (PTPL) 14.
Bay of Bengal Gateway Terminal Private Limited
(BBGTPL) 15.
Avior Power Private Limited (Formerly Chobia
Hydro Power Private Limited (AvPPL)) 16.
Mirach Power Private Limited (Formerly Dharmasala
Hydro Power Private Limited (MiPPL)) 17.
Pragdisa Power Private Limited (PrPPL) 18.
Vainateya Power Private Limited (VPPL) 19.
Basava Power Private Limited (Formerly Jubilee
Hydro Power Private Limited (BPPL)) 20.
Siddheswara Power Private Limited (Formerly
Diyothal Hydro Power Private Limited (SiPPL)) |
|
|
|
|
ENTERPRISES
WHERE KEY MANAGEMENT PERSONNEL HAVE SIGNIFICANT
INFLUENCE |
1.
Lanfin Ventures Private Limited (LVPL) 2.
Lanco Horizon Properties Private Limited (LHPPL)
(Formerly Uranus Properties Private Limited) 3.
Lanco Group Limited (LGL) 4.
S.V. Contractors (SVC) 5.
Lanco Foundation (LF) (Formerly Lanco Institute
of General Humanitarian Trust) 6.
Lanco Bay Technology Park Private Limited (LBTPL) 7.
Lanco Operation and Maintenance Company Private
Limited (Formerly Sigma 8.
Powertech Services Private Limited (LOMPL)) 9.
Lanco Rani Joint Venture (LR) 10.
Nekkar Power Private Ltmited (NePPL)(Formerly
Chamba Hydro Power Private Limited) |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital : Rs.5000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.2407.805 Millions
AS ON 31.03.2011
Authorised Capital : NOT AVAILABLE
Issued, Subscribed & Paid-up Capital : Rs. 2387.193 millions
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 |
2387.193 |
2385.470 |
2198.340 |
|
|
2] ESOP Outstanding |
466.271 |
746.010 |
207.460 |
|
|
3] Reserves & Surplus |
31541.011 |
28474.880 |
16209.320 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
34394.475 |
31606.360 |
18615.120 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
31476.102 |
18893.350 |
9734.390 |
|
|
2] Unsecured Loans |
6494.685 |
8444.130 |
3697.040 |
|
|
TOTAL BORROWING |
37970.787 |
27337.480 |
13431.430 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
53.860 |
178.130 |
|
|
|
|
|
|
|
|
TOTAL |
72365.262 |
58997.700 |
32224.680 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5661.785 |
3988.980 |
3652.750 |
|
|
Capital work-in-progress (including capital advances) |
1020.763 |
334.360 |
223.720 |
|
|
|
|
|
|
|
|
INVESTMENT |
54006.275 |
33941.140 |
20746.210 |
|
|
DEFERREX TAX ASSETS |
52.323 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7618.821
|
4472.140
|
4219.750
|
|
|
Sundry Debtors |
27876.473
|
23039.820
|
11709.200
|
|
|
Cash & Bank Balances |
3256.952
|
3674.840
|
876.010
|
|
|
Other Current Assets |
67.752
|
8.000
|
10.780
|
|
|
Loans & Advances |
58211.333
|
23547.010
|
18366.280
|
|
Total
Current Assets |
97031.331
|
54741.810
|
35182.020 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
713.186
|
623.090
|
503.560
|
|
Total
Current Liabilities |
85407.215
|
34008.590
|
27580.020
|
|
|
Net Current Assets |
11624.116
|
20733.220
|
7602.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
72365.262 |
58997.700 |
32224.680 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Income |
58723.194 |
58866.990 |
40825.860 |
|
|
|
Other Income |
428.648 |
1115.150 |
150.610 |
|
|
|
TOTAL (A) |
59151.842 |
59982.140 |
40976.470 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Construction and Operating Expenses |
28528.050 |
34564.900 |
25978.930 |
|
|
|
Other operating expenses |
16498.005 |
11868.180 |
6921.990 |
|
|
|
Salaries, Wages and other employee benefits |
3968.777 |
1896.060 |
1199.550 |
|
|
|
Managerial Remuneration |
159.364 |
117.190 |
114.250 |
|
|
|
Auditor’s Remuneration |
12.964 |
10.780 |
6.470 |
|
|
|
Other Expenses |
1651.627 |
1735.250 |
933.560 |
|
|
|
Provision for Debts/ Claim |
31.850 |
11.640 |
0.000 |
|
|
|
TOTAL (B) |
50850.637 |
50204.000 |
35154.750 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8301.205 |
9778.140 |
5821.720 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
3377.416 |
1979.400 |
1386.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4923.789 |
7798.740 |
4435.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
720.630 |
597.710 |
405.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4203.159 |
7201.030 |
4030.340 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1420.000 |
2337.210 |
1381.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2783.159 |
4863.820 |
2648.680 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10717.633 |
5853.820 |
3205.140 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13500.792 |
10717.640 |
5853.820 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
1.20 |
2.17 |
1.25 |
|
|
|
- Diluted |
1.19 |
2.14 |
1.24 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st
Quarter |
30.09.2011 2nd
Quarter |
31.12.2011 3rd
Quarter |
|
Type |
|
|
|
|
Net Sales |
17308.700 |
17599.900 |
25459.000 |
|
Total Expenditure |
14863.900 |
16091.900 |
23968.200 |
|
PBIDT (Excl OI) |
2444.800 |
1508.000 |
1490.800 |
|
Other Income |
115.300 |
105.20 |