1. Summary Information
|
|
|
Country |
|
|
Company Name |
ADANI ENTERPRISES LIMITED |
Principal Name 1 |
Mr. Gautam S.
Adani |
|
Status |
Good |
Principal Name 2 |
Mr. Rajesh S.
Adani |
|
|
|
Registration # |
04-019067 |
|
Street Address |
Adani House,
Shrimali Society, Near Mithakhali Six Road, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
||
|
Established Date |
02.03.1993 |
SIC Code |
-- |
|
Telephone# |
91-79-25555555 |
Business Style 1 |
Exporters |
|
Fax # |
91-79-26565500 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Frozen Foods |
|
|
# of employees |
597 (Approximately) |
Product Name 2 |
Dyes and Intermediates |
|
Paid up capital |
Rs,
1099,800,000/- |
Product Name 3 |
Plastic Products |
|
Shareholders |
Promoter and
Promoter Group 79.96%, Public Shareholding-20.04% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
Yes |
Business Period |
19 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
A (63) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
Company |
India |
Adani Developers
Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
88,398,400,000 |
Current Liabilities |
24374,700,000 |
|
Inventories |
6433,100,000 |
Long-term Liabilities |
15627,700,000 |
|
Fixed Assets |
9157,000,000 |
Other Liabilities |
1699,200,000 |
|
Deferred Assets |
0 |
Total Liabilities |
41,701,600,000 |
|
Invest& other Assets |
37733,700,000 |
Retained Earnings |
98920,800,000 |
|
|
|
Net Worth |
100020,600,000 |
|
Total Assets |
141,722,200,000 |
Total Liab. & Equity |
141,722,200,000 |
|
Total Assets (Previous Year) |
116138,200,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
52822,000,000 |
Net Profit |
3617,200,000 |
|
Sales(Previous yr) |
29268,500,000 |
Net Profit(Prev.yr) |
2691,100,000 |
MIRA
INFORM REPORT
|
Report Date : |
23.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADANI ENTERPRISES LIMITED |
|
|
|
|
Formerly Known
As : |
ADANI EXPORTS
LIMITED |
|
|
|
|
Registered
Office : |
Adani House,
Shrimali Society, Near Mithakhali |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of Incorporation : |
02.03.1993 |
|
|
|
|
Com. Reg. No.: |
04-019067 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1099.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L51100GJ1993PLC019067 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA01099A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA2804L |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Exporters of
Frozen Foods, Dyes and Intermediates, Plastic Products, Agricultural
Products, Precious Items, Tea, Coffee, Castor Oil and Seed, Textile Products,
Marine Items and other Agro Products. |
|
|
|
|
No. of Employees
: |
597 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 400000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is the flagship company of ‘The Adani Group’. It is a well
established company having fine track. Financial position of the company appears
to be sound. The company has recorded a better increase in its sales and
profitability during 2012. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 : |
Adani House,
Shrimali Society, Near Mithakhali Six Road, Navrangpura, Ahmedabad – 380009, Gujarat,
India |
|
Tel. No.: |
91-79-25555555/
26565555/ 25555080 |
|
Fax No.: |
91-79-26565500/
25555500 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Correspondence Office: |
Pinnacle Share
Registry Private Limited, Unit : (Adani Enterprises Limited), Near Asoka
Mills Limited., |
|
Tel. No.: |
91-79-22200582/
22200338. |
|
Fax No.: |
91-79-22202963. |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at : ·
Mumbai ·
·
Kolkata ·
Chennai ·
Mundra ·
Vadodara ·
·
·
Belekari ·
Banglore ·
·
·
·
Joda Barbil
(Orissa) |
|
|
|
|
Domestic Offices : |
Located At : ·
Mumbai ·
·
·
·
|
|
|
|
|
International Offices : |
·
Adani
Global Limited. ·
Adani
Virginia Inc. 4300, ·
Adani
Global Pte Limited ·
Adani
Shipping Pte Limited ·
Adani
Global FZE ·
BayBridge
Enterprises LLC 4300, ·
PT
Adani Global ·
Graha
Mustika Ratu Lantai 5, JI. Jendral Gatot Subroto Kav 74-75, ·
UAE |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Gautam S.
Adani |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
24.06.1962 |
|
Qualification: |
S.Y. B.Com. |
|
|
|
|
Name : |
Mr. Rajesh S.
Adani |
|
Designation : |
Managing Director |
|
Qualification: |
B. Com. |
|
|
|
|
Name : |
Mr. Devang Desai |
|
Designation : |
Executive Director (w.e.f. 27th
January, 2010) |
|
Qualifications |
27.01.2010 |
|
Date of
Appointment : |
FCA |
|
|
|
|
Name : |
Mr. Vasant S. Adani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Yoshihiro Miwa |
|
Designation : |
Director |
|
Qualifications |
Master of Commerce |
|
Date of
Appointment : |
26.09.2008 |
|
|
|
|
Name : |
Mr. Tatsuo Fuke |
|
Designation : |
Alternate Director to Mr.
Yoshihiro Miwa |
|
|
|
|
Name : |
Mr. Anil Ahuja |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. K. Tuteja |
|
Designation : |
Director (w.e.f. 123th
February, 2011) |
|
|
|
|
Name : |
Dr. Ravindra Dholakia |
|
Designation : |
Director (w.e.f. 21.05.2012) |
KEY EXECUTIVES
|
Name : |
Mr. Parthiv Parikh |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2012)
|
Names of Category |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,335,156 |
0.21 |
|
|
134,799,548 |
12.26 |
|
|
647,633,621 |
58.89 |
|
|
646,074,910 |
58.74 |
|
|
1,558,711 |
0.14 |
|
|
784,768,325 |
71.35 |
|
|
|
|
|
|
|
|
|
|
90,941,484 |
8.27 |
|
|
3,688,000 |
0.34 |
|
|
94,629,484 |
8.60 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
879,397,809 |
79.96 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
409,950 |
0.04 |
|
|
7,949,742 |
0.72 |
|
|
168,049,171 |
15.28 |
|
|
11,696 |
0.000 |
|
|
176,420,559 |
16.04 |
|
|
|
|
|
|
|
|
|
|
5,600,818 |
0.51 |
|
|
|
|
|
|
14,264,477 |
1.30 |
|
|
2,740,981 |
0.25 |
|
|
|
|
|
|
22,042,071 |
2.00 |
|
|
5,496,555 |
0.50 |
|
|
10,000 |
0.000 |
|
|
912,951 |
0.08 |
|
|
14,965,933 |
1.36 |
|
|
43,991,715 |
4.00 |
|
|
|
|
|
Total Public
shareholding (B) |
220,412,274 |
20.04 |
|
|
|
|
|
Total (A)+(B) |
1,099,810,083 |
100.00 |
|
|
|
|
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
|
|
|
Total
(A)+(B)+(C) |
1,099,810,083 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
TrustsBUSINESS DETAILS
|
Line of Business : |
Exporters of
Frozen Foods, Dyes and Intermediates, Plastic Products, Agricultural Products,
Precious Items, Tea, Coffee, Castor Oil and Seed, Textile Products, Marine
Items and other Agro Products. |
GENERAL INFORMATION
|
No. of Employees : |
597 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
ICICI Bank Limited, Mumbai ·
Axis Bank Limited, Ahmedabad ·
Standard Chartered Bank, Mumbai |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Banking Relations : |
-- |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Auditors : |
|
|||||||||||||||||||||||||||||||||||||||
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|||||||||||||||||||||||||||||||||||||||
|
Address : |
Ahmedabad, |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Controlling Entity : |
Shantilal Bhudhermal Adani Family Trust (SBAFT) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Subsidiary Companies : |
·
Adani Infrastructure and Developers Private
Limited ·
Adani Developers Private Limited ·
Adani Landscapes Private Limited ·
·
Shantigram Estate Management Private Limited ·
Belvedere Golf and Country Club Private Limited ·
Lushgreen Landscapes Private Limited ·
Jade Food and Properties Private Limited ·
Jade Agricultural Company Private Limited ·
Rohit Agri Trade Private Limited ·
Panchdhara Agro Farms Private Limited ·
Adani Agri Logistics Limited ·
Adani Agri Fresh Limited ·
Adani Power Limited ·
Adani Power Maharashtra Limited ·
Adani Power Rajasthan Limited. ·
Adani Power Dahej Limited ·
Adani Pench Power Limited ·
Mundra Power SEZ Limited ·
Kutchh Power Generation Limited ·
·
Mahaguj Power Limited ·
Adani Mining Private Limited ·
Sarguja Rail Corridor Private Limited ·
Chendipada Collieries Private Limited ·
·
Mundra SEZ Textile and Apparel Park Private Limited ·
Karnavati Aviation Private Limited ·
MPSEZ Utilities Private Limited ·
Rajasthan SEZ Private Limited ·
Adani Logistics Limited ·
Mundra International Airport Private Limited ·
Adani Murmugao Port Terminal Private Limited. ·
Adani Hazira Port Private Limited ·
Adani Petronet (Dahej) Port Private Limited ·
Hazira Infrastructure Private Limited ·
Hazira Road Infrastructure Private Limited ·
Adani Energy Limited ·
Adani Gas Limited ·
PT Karya ·
PT Lamindo Inter ·
PT Mitra ·
PT Pahala ·
PT Sumber ·
PT Suar ·
PT Tambang ·
Adani Estates Private Limited ·
Adani Land Developers Private Limited ·
Swayam Realtors and Traders Limited ·
Miraj Impex Private Limited ·
Adani Mundra SEZ Infrastructure Private Limited ·
Shantigram Utility Services Private Limited. ·
Natural Growers Private Limited ·
Jade Agri Land Private Limited ·
Rajendra Agri Trade Private Limited ·
Aaloka Real Estate Private Limited ·
Mundra LNG Limited ·
Adani Cements Limited ·
Adani Shipping ( ·
Adani Infra ( ·
Adani Global Limited, ·
Adani Global Pte. Limited, ·
Adani Shipping Pte. Limited, ·
Rahi Shipping Pte. Limited, ·
Vanshi Shipping Pte. ·
Adani Power Pte. Limited, ·
Adani Global FZE, ·
Adani Power (Overseas) Limited, ·
Adani Mining Pty Limited, ·
PT Adani Global, ·
PT Kapuas Coal, ·
PT Adani Global Coal Trading, ·
PT Coal ·
PT ·
PT ·
PT Energy Resources, ·
PT Sumber Dana Usaha, ·
PT ·
PT Niaga ·
PT Niaga ·
PT Andalas ·
PT Citra ·
PT Gemilang ·
PT ·
PT ·
Adani Virginia Inc. (Upto 1st October, 2010) ·
·
M/s. ·
M/s. Adani Exports ·
Adani Renewable Energy LLP |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Associates : |
·
Aditya Corpex Private Limited ·
Hinduja Exports Private Limited ·
M/s. Ezy Global |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Joint Control : |
·
Adani Wilmar Limited ·
CSPGCLAEL Parsa Collieries Limited ·
Adani Wilmar Pte. Limited |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Enterprises over which have significant influence : |
·
Adani Agro Private Limited ·
Adani Properties Private Limited ·
B2B India Private Limited ·
Adani Foundation ·
Adani Education and Research Foundation ·
Gujarat Adani Institute of Medical Science |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Joint Venture : |
·
Adani M2K Projects LLP (Firm) ·
Vishakha Industries ·
KOG KTV Food Products India Private Limited ·
Krishnapattam Oils and Fats Private Limited ·
KTV Health and Foods Private Limited ·
Varadaraja Agro Industries Private Limited ·
Adani Wilmar Limited ·
Adani Wilmar Pte Limited ·
Acalmar Oil and Fats Limited ·
Rajshri Packagers Limited ·
Satya Sai Agroils Private Limited ·
Vishakha Polyfab Private Limited ·
KTV Oils and Fats Private Limited ·
Golden Valley Agrotech Private Limited ·
AWN Agro Private Limited |
|||||||||||||||||||||||||||||||||||||||
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3208200000 |
Equity Shares |
Rs. 1/- Each |
Rs. 3208.200 Millions |
|
4500000 |
Preference Shares |
Rs. 10/- Each |
Rs. 45.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 3253.200
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1099810083 |
Equity Shares |
Rs. 1/- each |
Rs. 1099.800 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1099.800 |
1099.800 |
498.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
98920.800 |
96581.800 |
19203.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
100020.600 |
97681.600 |
19701.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7050.700 |
1733.100 |
173.800 |
|
|
2] Unsecured Loans |
8577.000 |
6235.000 |
34539.300 |
|
|
TOTAL BORROWING |
15627.700 |
7968.100 |
34713.100 |
|
|
DEFERRED TAX LIABILITIES |
226.800 |
9.500 |
176.500 |
|
|
|
|
|
|
|
|
TOTAL |
115875.100 |
105659.200 |
54590.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9157.000 |
2381.400 |
1606.400 |
|
|
Capital work-in-progress |
1452.400 |
1228.200 |
316.100 |
|
|
Capital Advance |
0.000 |
0.000 |
193.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
36281.300 |
34727.700 |
23810.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6433.100
|
4709.100
|
2661.500
|
|
|
Sundry Debtors |
17951.300
|
9251.500
|
14124.600
|
|
|
Cash & Bank Balances |
3744.600
|
2910.800
|
11824.100
|
|
|
Other Current Assets |
1391.300
|
78.300
|
0.000
|
|
|
Loans & Advances |
65311.200
|
60851.200
|
20074.000
|
|
Total
Current Assets |
94831.500
|
77800.900
|
48684.200
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
16704.100
|
7323.900
|
5262.300 |
|
|
Other Current Liabilities |
7670.600
|
1550.800
|
11961.800
|
|
|
Provisions |
1472.400
|
1604.300
|
2818.200
|
|
Total
Current Liabilities |
25847.100
|
10479.000
|
20042.300
|
|
|
Net Current Assets |
68984.400
|
67321.900
|
28641.900
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
22.600 |
|
|
|
|
|
|
|
|
TOTAL |
115875.100 |
105659.200 |
54590.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
52822.000 |
29268.500 |
115847.800 |
|
|
|
Other Income |
4616.500 |
5276.500 |
1713.100 |
|
|
|
TOTAL |
57438.500 |
34545.000 |
117560.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
49.300 |
1662.300 |
|
|
|
|
Purchase of traded goods |
45089.200 |
25067.400 |
|
|
|
|
Changes in Inventories of Finished Goods, Work in progress and
Stock-in-trade |
(1541.700) |
(2222.600) |
|
|
|
|
Employee Benefit Expense |
1041.500 |
959.800 |
|
|
|
|
Other Expenses |
6960.000 |
5068.700 |
|
|
|
|
TOTAL |
51598.300 |
30535.600 |
110054.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
5840.200 |
4009.400 |
7506.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1650.300 |
746.200 |
4501.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4189.700 |
3263.200 |
3005.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
299.000 |
132.700 |
127.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEM AND TAX |
3890.700 |
3130.500 |
2877.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EXCEPTIONAL ITEM |
20.100 |
492.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3870.600 |
2638.500 |
2877.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
253.400 |
52.600 |
333.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3617.200 |
2691.100 |
2544.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10732.000 |
9902.900 |
8439.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed
Dividend on Equity Shares |
|
1099.800 |
498.000 |
|
|
|
Dividend
for Earlier Year |
|
113.900 |
0.000 |
|
|
|
Tax
on Dividend (including surcharge) |
|
203.900 |
82.700 |
|
|
|
Dividend Cancelled Due to Cancellation of Cross Holding in Amalgamated
Entity |
|
(55.600) |
0.000 |
|
|
|
Transfer
to General Reserve |
|
500.000 |
500.000 |
|
|
|
Transfer
to Debenture Redemption Reserve |
|
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
N.A. |
10732.000 |
9902.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
0.000 |
487.600 |
36887.700 |
|
|
|
Interest Income |
0.000 |
0.700 |
0.000 |
|
|
|
Other Income |
0.000 |
15.100 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
503.400 |
36887.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trade Goods |
32373.900 |
20224.400 |
78781.000 |
|
|
|
Capital Goods |
4055.200 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
36429.100 |
20224.400 |
78781.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.29 |
2.53 |
5.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.30
|
7.79
|
2.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.33
|
9.01
|
2.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.72
|
3.29
|
5.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.03
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41
|
0.19
|
2.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.67
|
7.42
|
2.43 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
-- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
-- |
|
Litigations that the firm/ Promoters Involved in |
-- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
-- |
|
Buyer visit details |
-- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
No |
COMPANY'S PERFORMANCE
In spite of various constraints and
challenging environment, the Company continued to strengthen its core
businesses in Resources,
Logistics and Energy Sectors and has maintained growth potential in the
global market. The results are obviously impacted by this environment, however
going forward, in the coming year, they believe that many of the issues
impacting the financial performance of the Company will be resolved.
For the year ended March 31, 2012, Consolidated Income increased by 49% to Rs. 39,9037.700 Millions against Rs. 26, 826.740 Millions in the previous year. The consolidated EBIDTA rose by 23% to Rs. 5,5459.600 Millions against Rs. 4,5139.700 Millions in the last year, driven by higher contribution from Coal Trading 8 Port Businesses. The Consolidated Net Profit stood at Rs. 1,8392.100 Millions compared to Rs. 2,4760.900 Millions in the last fiscal. The Port and Coal Trading businesses had a robust growth; higher fuel costs in the power business affected theirs profit.
On standalone basis, the Company registered gross revenue of Rs.
5,7438.500 Millions as compared to Rs.
3,4545.000 Millions in the previous year. The Net Profit After Tax
registered growth of 34% and stood at Rs.
3617.200 Millions as against ? 2691.100 Millions in the previous year.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
OVERVIEW
The world economy is passing through a very
difficult phase and is expected to grow by 3.5% in 2012. Despite a better than
expected recovery shaping in the US, the key reasons for the subdued growth
forecast of 1.4% in the developed economies are the euro zone crisis, high
natural resources price and continued bank deleveraging. Growth in the
developing world is forecast to slow down further to 5.7% with the key
economies of China, India, Brazil and Russia -all expected to record lower
rates of growth.
On domestic front, the Indian economy decelerated
considerably during the year, growing below 7% in 2011-12 as compared to 8.4%
in 2010-11.
The position on the 'twin deficits' also
worsened with the fiscal deficit touching 5.9% of GDP and the current account
deficit estimated at around 4% of GDP. With a burgeoning current account
deficit on the one hand and only a small increase in net capital inflows on the
other, the overall Balance of Payments situation weakened. This, amongst other
factors, led to a sharp depreciation of the Indian Rupee which fell to record
lows. As per CRISIL Research's Economy Insight, the Indian economy is expected
to grow at 6.5% in 2012-13.
Despite this constraints and challenging
environment, the Company continued to strengthen its core businesses in
resources, logistics and energy sector and has maintained growth potential in
the global market. The results are obviously impacted by this environment,
however going forward, in the coming year, they believe that many of the issues
impacting the financial performance of the Company will be resolved
OPERATIONAL
PERFORMANCE ❖ RESOURCES
They are developing and operating mines in
India, Indonesia and Australia as well as importing and trading coal from many countries.
Currently, they are the largest coal importer in India. They also have
extensive interests in oil and gas exploration.
Extractive capacity is scheduled to increase from 2.2 Million Metric Tonnes (MMT) of thermal coal in FY 2012 to 200 MMT per annum by FY 2020, making Adani one of the largest mining groups in the world.
COAL
MINING
The coal mining business involves mining,
processing, acquisition, exploration and development of mining assets.
Coal
Mining in
PT Adani Global,
Indonesia a wholly-owned subsidiary of the Company, has been operating coal
mining concessions in PT Lamindo Inter Multikon and PT MitraNiaga Mulia (its
step down subsidiaries) in Bunyu island, Indonesia since March 2008. The Bunyu
Mine has resource of approx. 180 MMT and it mined 2.2 MMT of coal from the same
during the year 2011-12.
Coal Mining in
Australia
The Company had
acquired 100% interest in the Galilee Coal Tenement in
Domestic Coal
Mining Operations
In India, as a part
of the public private partnership model, Government sector Companies, which are
allotted coal blocks, appoint a Mine Developer and Operator ("MDO")
to undertake all activities relating to the development and operations of a
coal block allotted.
Parsa East
and Kente Basan Coal Block
Rajasthan Rajya
Vidyut Utpadan Nigam Limited (RRVUNL) has been allocated the Parsa East and
Kente Basan coal blocks at Chhattisgarh. The Company entered into a joint
venture agreement with RRVUNL to form Parsa Kente Collieries Limited (“PKCL”),
wherein we own 74% equity interest and the remaining 26% equity interest is
owned by RRVUNL. The Company through it 100% subsidiary, Adani Mining Private
Limited, is developing the said coal block. The project has already achieved
substantial progress and is awaiting environment and forest clearance to start
physical development of the coal block. In addition, we have been granted
clearance from the Ministry of Railways for the movement of coal from the coal
blocks at Parsa East and Kente Basan to the power plants being developed by
RRVUNL. Parsa - Kente Coal Block is having 27.67 sq. km. area and Mineable Coal
reserves of 450 Million Metric Tonnes. We expect to commence the commercial
production from the year 2012.
Machhakata
Coal Block
The Company entered
into coal mining services agreement with Mahaguj Collieries Limited for the
development and operation of Machhakata coal block in Orissa. This entails the
development of the coal block, mining of coal from the coal block and supplying
coal to the designated power plants of Maharashtra Power Generation company
Limited and the Gujarat State Electricity Corporation Limited. Machhakata Coal
Block is having 20.43 sq. km. area and Mineable Coal reserves of 1244.35
Million Metric Tonnes. We expect to commence the commercial production from the
year 2013.
Parsa Coal
Block
Chhattisgarh State
Power Generation Company Ltd. (CSPGCL) has been allocated the Parsa Captive
Coal Block situated in the District Surguja (Ambikapur), Chhattisgarh having
12.52 sq. km. area and Geological Coal reserves of 150 Million Metric Tonnes.
The Company has entered into a joint venture agreement with CSPGCL and formed
joint venture Company, CSPGCL AEL Parsa Collieries Limited, (“JVC”) in the
state of Chhattisgarh wherein we own 49% equity interest. The business of the
JVC shall be to develop and operate the Parsa Captive Coal Block in Hasdeo
Arand Coalfield of SECL Command area in the District – Surguja (Ambikapur) of
the
Chendipada Coal
Block
The Company has
formed a 100% subsidiary namely Chendipada Collieries Private Limited, to
develop and operate the Chendipada coal block in the District – Angul in the
state of Odisha for exclusive use of UCM Coal Company Limited (Joint Venture of
Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited, Chhattisgarh Mineral
Development Corporation Limited and Maharashtra State Power Generation Company
Limited) and also beneficiation, transport and deliver coal to end up power
projects of Uttar Pradesh, Chhattisgarh and Maharashtra state. The Chendipada
Coal Block is having 21.91 sq. km. area and mineable Coal reserves of around
1500 Million Metric Tonnes. They expect to commence the commercial production
from the year 2015.
COAL
TRADING
The Company is the
largest Integrated Coal Manager (ICM) for a large body of power products. As
Today, the Company
is the largest private sector coal importer into
The Company has
entered into long-term arrangement for uninterrupted supply of imported coal
with some of the biggest suppliers in
The Company
undertakes coal trading business directly and through its subsidiaries, Adani
Global FZE,
OIL AND GAS
EXPLORATION
As part of strategy, Adani
Enterprises Limited (AEL) on its own exploring opportunities in this segment
and also through collaboration. The company has formed a joint venture, Adani
Welspun Exploration Limited ("Adani Welspun") in which it has 65%
stake. As a Growth strategy the Company is actively pursuing various business
opportunities globally as well as within the country to acquire assets that are
in development, re-development or production.
Logistics
The volume of cargo handled
in non-major has grown at just 7.2% in the first half of 2011-12 but it is
significantly better than the performance of major ports. Non major ports
handled more than 37% of total maritime freight traffic of
The Company through its
subsidiaries owns and operates three ports - Mundra and Dahej in
The Company through its
subsidiary,
.
Highlights of the Overall Performance:
- Total number of vessels handled at
- Cargo volumes have improved across all segments.
Cargo handled in 2011-12 was 64.01 MT, against 51.68MT in 2010-11 a growth
of 23.86% year on year.
Railway:
Total number of loaded rakes
handled in FY 2011-12 were 8,414.
The West Port Terminal is
the 5th Rail Terminal at APSEZL. It commenced operations in December, 2011. The
terminal has 6 full rakes siding with two loading lines and automated wagon
loading system.
Dry Cargo:
Dry Cargo handled during FY
2011-12 was 28.46 MT as against 22.66 MT during FY 2010-11, a growth of 25.60%
year on year.
Coal Cargo handled during
the FY 2011-12 was 18.75 MT as against 14.06 MT during FY 2010-11, a growth of
33.36% year on year.
Container Cargo:
In January 2012, Adani
Mundra Container Terminal (AMCT) handled a record 77,234 TEUs on 56 vessels.
This is the highest throughput in a month by any Container Terminal in
Marine:
Commissioned Berth 9 in
August, 2011 and 10 in January, 2012 at Terminal 3. Commissioned
Induction of two additional
Tug: Tug Dolphin No.17and Dolphin No.18,both 70ton Bollardpull tugs were
inducted into the APSEZLtug fleet in August, 2011 and November, 2011
respectively. With the induction of Dolphin No. 18,
The second Single Point
Mooring (SPM) at Mundra which will receive crude oil for HPCL-Mittal Energy
Ltd. (HMEL) refinery was commissioned on 20th July 2011. The SPM is now fully
operational for receiving crude oil through Very Large Crude Carrier (VLCC)
tankers and has achieved a throughput of 1.11 MMT in this financial year.
APSEZL successfully
completed the 200th SPM operation for Indian Oil Corporation Ltd. (IOCL)
vessels at Mundra SPM during March 2012.
Automobiles:
• Total 95,070 cars were exported in the financial year
2011-12.
Liquid:
Achieved historic high (5.35
MT) in handling of HPCLcargo during FY 2011-12.
Commenced rake unloading
facility for black oil in September 2011. Handled 9 rakes during the year.
Radar gauging system
commissioned for Vegetable Oil tanks during February, 2012.
s
Special Economic Zone:
The Special Economic Zone
Policy was framed in April, 2000 with an objective to increase the exports,
attract Foreign Direct Investment and to accelerate the economic growth of the
country. The total exports from the SEZs in the year 2011-12 was Rs.
3,64,4770.000 Millions approx. against Rs.
3,15,8670.000 Millions in 2010-11 registering growth of 15.39%. The
total investment in SEZs till 31st March, 2012 is Rs. 2,01,8747.600 Millions
approx. The Multi-product SEZ at Mundra is the largest notified SEZ in the
country. Export from Mundra SEZ for the FY 2011-12 was Rs. 1, 7060.000 Millions
against ? 1,5300.000 Millions in the previous year 2010-11 a growth of 10.32%.
The Company's SEZ with its multi-modal connectivity including road, rail, sea
port and airport is expected to attract more and more investments in the coming
years.
APSEZL has also obtained
approvals from Government of India for setting up another Multi-product SEZ and
Free Trade Warehousing Zones in Taluka: Mundra. Notification of both the SEZs
has been issued by Government of India in March, 2012. These SEZs are adjacent
to the existing multi-product SEZ.
Energy
Their coal mining and
logistics operations place us in a commanding position. More than 75% of their
electricity is pre-sold in long-term arrangements, leaving us free to trade the
balance wherever the best profits are to be found.
POWER GENERATION AND TRANSMISSION
The Company's listed
subsidiary, Adani Power Ltd. (APL) is developing and planning various power
projects with a combined installed capacity of 16,500 MW, out of which 4,620 MW
is operational, 4,620 MW is under implementation and 7,260 MW is at the
planning stage. The Company intends to sell the power generated from these
projects under a combination of long-term PPAs and on merchant basis.
Mundra Power Project
The Mundra power project
with total capacity of 4,620 MW is located at Mundra,
Transmission
They have set up
transmission network to evacuate power from Mundra Power Project. Our 433 km double
circuit 400 kV transmission line with a capacity to wheel up to 1,000 MW of
power, connecting to the grid of the Power Grid Corporation of India Limited
(PGCIL) at Dehgam, Gandhinagar is operational. Further, we have also
Implemented Transmission line with the configuration of 500 kV high voltage
direct current with a capacity to wheel up to 2,500 MW of power, from Mundra to
Mohindergarh, Haryana.
The average PLF during the
year was 69%. We are selling the power generated through long term PPAs and on
Merchant basis. Fuel Supply Agreement (FSA) for Unit-7, 8 & 9 has been
executed with Coal
Tiroda Power Project
The Tiroda power project
with total capacity of 3300 MW is being developed at Tiroda,
660 MW.
In addition, sufficient land
for implementing the Tiroda power projects has been leased on a long term
basis. Water requirement has been fulfilled. The environmental clearances for
the power projects have been received from MoEF, GoI. Construction of a 200 km
440 kV double circuit transmission line with a capacity to wheel 1,000 MW of
power, from Tiroda to Warora in
Kawai Power Project
The Kawai power project with
total capacity of 1320 MW is being developed at Kawai, Rajasthan by subsidiary
Company, Adani Power Rajasthan Limited (APRL). It has two super critical units
of 660 MW.
In addition, land and water
requirement for the implementation of the Kawai power project has been
fulfilled. The environmental clearance for the power project has been received
from MoEF, GoI. Requested Government of Rajasthan (GoR) to allocate coal from
captive coal blocks allocated to PSUs of GoR. Besides that an application for
coal linkage to meet the requirements of the Kawai power project has been made.
Entire 1320 MW capacity is expected to be commissioned by FY 2013.
Solar Power
During the year, the Company successfully
commissioned a 40 Megawatt (MW), country's largest solar power plant in Kutch
district,
City Gas Distribution
Their city gas distribution business is
undertaken through our Wholly Owned Subsidiary, Adani Gas Limited ("Adani
Gas"). Adani Gas has received "No Objection Certificates" from
respective State Governments to develop city gas distribution projects in
Ahmedabad and Vadodara in Gujarat,
CONTINGENT LIABILITIES NOT PROVIDED FOR
(Rs.
In millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
a) Claims against the Company not
acknowledged as Debts |
30.000 |
100.800 |
|
|
|
|
|
b) In respect of : |
|
|
|
Income Tax |
425.200 |
304.200 |
|
Service Tax |
238.200 |
124.100 |
|
Sales Tax |
1281.300 |
248.400 |
|
Custom Duty |
658.000 |
607.000 |
|
Excise Duty |
32.000 |
25.600 |
|
FERA / FEMA |
82.600 |
41.600 |
|
Others |
3.500 |
3.500 |
|
|
|
|
|
c) In respect of Corporate
Guarantee given:- |
|
|
|
II To it’s Subsidiaries |
4216.200 |
3452.000 |
|
III For obligations to
Associates |
1017.000 |
677.000 |
|
|
|
|
|
d) Bills of Exchange Discounted |
598.300 |
596.300 |
|
|
|
|
|
e) In respect of Bank Guarantees
given to Government agencies. |
626.300 |
135.900 |
|
|
|
|
|
f) Certain claims / show cause notices
disputed have neither been considered as contingent liabilities nor
acknowledged as claims, based on internal evaluation of the management. |
||
|
g) Show
cause notice in terms of value of export goods under section 14 of the
Customs Act, 1962 read with Section 11 of FTDR Act, 1992 and Rules 11 and 14
of FT (Regulation) Rule, 1993 and under Section 16 of the Foreign Exchange
Management Act, 1999 read with Rule (4) of the Foreign Exchange Management
(Adjudication Proceedings and Appeal) Rule, 2000 in which liability is
unascertainable. |
||
|
h) Show cause notices issued
under the Custom Act, 1962 , wherein the Company has been asked to show cause
why, penalty should not been imposed under section 112 (a) and 114 (iii) of the Custom Act, 1962 in
which liability is unascertainable. |
||
|
i) Investments are pledged with
Banks / Financial Institutions towards collateral security for loan taken by
a group Company - Amount of contingent liability is to the extent of value of
Shares Pledged. |
||
|
j) Complaint filed by Asst.
Labour Commissioner, Hubli under Section 30 of the Payment of Bonus Act,
1956. Matter being contested by the Company and projected liability in terms
of penalty would be not more than Rs. 0.100 millions (P.Y. Rs. 00.100
millions). |
||
|
k)
Stamp
duty and registration charges on fixed assets acquired during the year yet
not determinable. |
||
|
l) In
the matter of show cause notice, amount of interest and penalty not
ascertainable, hence not disclosed. |
||
|
m) Show cause notice issued by
DGCEI proposes for imposition penalties under Section 76 and Section 78 of
the Finance Act, 1994, in which liability is uncertain and not included. |
||
Fixed Assets
·
Land
·
Leasehold Improvements
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Electrical Fittings
·
Office Equipment
·
Computer Equipments
·
Vehicles
·
Air Craft
·
Ship
AS PER WEB
DETAILS
PROFILE
Adani Group, founded in 1988, is
one of the fastest growing business houses in
Adani Enterprises at a Glance
Adani Enterprises Limited (AEL) is
the flagship company of The Adani Group it has been accorded the status
of “Five Star Trading House” by Directorate General of Foreign
Trade, New Delhi.
With its head office in
The company started activities as
a partnership firm in 1988, was converted into a joint stock company in 1993
and made its IPO in 1994. The IPO was oversubscribed by 25 times. Its trade
desks handle a diverse and voluminous product portfolio with expertise. Through
time-conscious delivery, quality-driven process systems, total reliability and
unusual levels of commitment to customer satisfaction, AEL has found great
success in marketplaces around the world, and a rock-solid reputation. It has
achieved the critical mass needed to carry out the sizable transactions
demanded by its global clients, while at the same time maintaining the
entrepreneurial drive that has given it an edge in Asia and
To further strengthen its presence
in the commodity landscape, it is venturing into asset backed commodity trading
to help it de-risk the commodity trading portfolio and avoid the ever increasing
pressure on the margins. Over time, the strategic forays into new businesses
have garnered a significant share of these emerging high-growth markets in
Adani Enterprises Limited has
emerged as Global Trader in the ever-changing evolving dynamic environment with
a clear focus on the core global facilitating businesses, mainly – Power
Generation, Coal Mining, Oil and Gas Exploration, City Gas Distribution, Real
Estate and Agro. The company has chalked out clear growth plans in all its
business units and intends to fully leverage its capacities and the vast
available opportunities opened up for the Indian companies AEL's diversified status originates from its
corporate strategy aimed at creating multiple drivers of growth anchored on its
time-tested core competencies: unmatched distribution reach, superior
brand-building capabilities, effective supply chain management and acknowledged
service skills.
HISTORY AND MILESTONES
2009
AEL has received a LOI for the
Macchakatta Coal Block and LOA for Parsa Coal Block
2008
Food gain silos of Adani
Agrilogistics have been operationised
AEL has formed a joint venture
company with Chemoil Energy Limited for expansion of its bunkering business on
pan
AWEL has received one offshore
block in Surat Depression near Bombay High and another offshore block at
2007
The company has successfully
completed foreign currency convertible bond issue USD250 Million for its
business expansion plans.
Orders for two Capesize vessels
placed with a Korean Shipyard.
Base Depot constructed by Adani
Agri Logistics got commissioned on 17th July 2007.
2006
Adani Agrifresh commences
business.
AEL commissions two floating crane
barge.
Work on setting up grain silos
under Adani Agri Logistics started.
Commencement of construction of
660 MW thermal power project at Mundra
Expansion of jetties at
2005
The company has received
prestigious reorganization of “Five Star Export House” on account of valuable
contribution in country’s overall exports.
Sales turnover has crossed Rs.13,5000.000
Millions during FY 2004-05.
The company has successfully
completed foreign currency convertible bond issue of USD 38 Million and proved
its global reach
2004
The company has crossed
Rs.71550.000 Millions sales turnover mark. Awarded “Five Star Export House”
status
Successfully disinvested its stake
of Mundra Container Terminal to P and O Ports,
Introduction of new products like
2001 and 2003
Actual net worth at Rs 5500.000
millions
2003 During FY 2002-2003
Company has achieved turnover of Rs. 28730.000 millions as against Rs.21880.000
millions for FY 1998-99 (a 30 % growth)
and becomes the top net foreign exchange (NFE) earner of the country.
The largest private sector player
awarded with prestigious award of “Golden Super Star Trading House.”
1999 and 2000
Declares a 1:1 bonus.
Market capitalization of the
company rises beyond Rs 17100.000 millions in wake of its scrip price touching
Rs 775.60 per share (as on June 09, 2000), subscribers to the IPO see money
growing by 1966 per cent in just 5 years.
During FY 1999-2000 Company has
achieved all time high turnover of Rs. 28531.100 millions as against
Rs.21880.000 millions for FY 1998-99 (a 30 % growth).
1998 and Beyond: Period of
Consolidation
1998
Turnover leaps to Rs 2,4186.000
millions for the FY 1997 - 98.
Expands its trade basket, at
present trades in more than 40 commodities and in 28 countries.
Becomes the top net foreign
exchange (NFE) earner of the country and the largest private sector Super Star
Trading House in
Jetty at
1994 - 1997: Period of Growth
1997
Super Star Trading House status
extended for another 3 years, upto 31st March, 2000, inspite qualification
limits for this status being substantially enhanced.
1996
Turnover crosses the coveted Rs
1,0000.000 millions level; at Rs
1,1346.000 millions in 1995 - 96.
Declares a 1:1 bonus in
November’96; paid up capital increases to Rs 110.200 millions.
1994
Hits the primary market in
September 1994 with its initial public offering (IPO) of 1.250 millions equity
shares of Rs 10 each at a premium of Rs 140 per share aggregating Rs 187.500
millions; float oversubscribed by more than 25 times. Accorded the status
of “Super Star Trading House” on April 1, 1994 by the Ministry of Commerce,
Government of India; the youngest trading house and the only one from the State
of
1988 - 1993: The Initial Years
1993
Converted into a public limited
company on 2nd March 1993 with a paid up capital of Rs 10.000 millions.
Accorded the status of “Star Trading
House” on April 1, 1993 by the Ministry of Commerce, Government of India.
1988
Conceived as a partnership firm by
Gautam
PRESS RELEASE
ADANI ENTERPRISES NET
DOWN 25% IN FY12
AHMEDABAD, MAY
21:
Adani Enterprises Limited (AEL), the flagship company of Adani Group, on Monday said its net profit declined by 25% in the financial year 2011-12, and by 66% in the fourth quarter, both ended March 31, 2012, as compared to the corresponding periods last fiscal.
In FY 12, the company’s consolidated income increased by 49% to Rs.393560.000 Millions (Rs 264050.000 Million) and EBIDTA by 24% to Rs 55460.000 Millions (Rs 44650.000 Millions), driven by higher contribution from coal trading and port business. In Q4, the income was Rs 106370.000 Millions (Rs 91120.000 Millions), an increase of 17%.
The consolidated net profit, however, stood at Rs18390.000 Millions as compared to Rs 24760.000 Millions in the last fiscal while in Q4 it was Rs 3090.000 Millions (Rs 9280.000). “While the port and coal trading businesses had a robust growth, higher fuel costs in the power business affected our PAT,” AEL said in a statement here.
On Monday, AEL’s share price at the BSE closed 3.38% higher at Rs 238.90.
Mr. Devang Desai, CFO, Adani Group, and Executive Director, Adani Enterprises, said, “The past year presented many unexpected challenges in resources and energy businesses. The results are obviously impacted by this environment. However, going forward in the coming year, we believe that many of the issues impacting the financial performance of the company will be resolved.”
In 2011-12, AEL imported 36 million tons of coal and
captured 50% market-share in the country. While Mundra port emerged as the
fourth largest commercial port in
Port, commissioned
ADANI
PORTS SIGNS PACTS TO DEVELOP BULK TERMINAL AT KANDLA PORT JULY 2, 2012
Adani Ports and Special Economic Zone (APSEZ), India’s
largest private multi-port operator and part of the Adani Group, a global integrated
infrastructure player, today said its subsidiary Adani Kandla Bulk Terminal
Pvt. Ltd. has signed a concession agreement with the Kandla Port Trust, to sset
up a dry bulk terminal at the Kandla Port on build, operate and transfer basis,
thus emerging as the only private sector port operator with presence across six
ports in India.
“This is a testimony of the Government of India’s trust
and confidence in Adani and its execution and operating skills to set up world
class port infrastructure. This modern and mechanized cargo bulk terminal will
act as a game changer for exim trade of the north-west hinterland and
contribute to Adani’s goal of reaching 200 million tonnes of cargo handling by
2020.” said Rajeeva Sinha, Wholetime director at APSEZ.
“This facility will reduce cargo handling cost at
The project, which will be the one of largest bulk
terminal on the west coast of India, will have a capacity of over 20 million
tonnes a year and will be built at the cost of about Rs 1,200 crores approx and
be commissioned within a period of 24 months. The dry bulk terminal will be
located off Tekra near Tuna outside Kandla Creek at the Kandla Port, India’s number
one port by volumes. The terminal, will handle cargo like coal, fertilizer,
salt, minerals and other agri-products.
With this, APSEZ's bulk cargo capacity gets enhanced and
it can now tap the ever increasing cargo of the hinterland as well as at Kandla.
The existing customer base, including the large trader community at Kandla as
well as customers at the nearby ports, can now enjoy a hassle free, mechanised
handling services of Adani at the new bulk terminal.
The direct berthing at Tuna would address the present
issues at Kandla relating to anchorage/barge operations which lead to increased
cost per tonne, double handling, loss of cargo and lower productivity. The
automated and mechanised processes at the new terminal at Tuna would ensure
transparency.
APSEZ spearheads Adani’s logistics business which includes
setting up world class port infrastructure, special economic zones and
multi-modal logistics such as railways. It is now the only private port
infrastructure company to operate and construct ports and terminals across six
locations in
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. 55.15 |
|
|
1 |
Rs. 86.58 |
|
Euro |
1 |
Rs. 67.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.