MIRA
INFORM REPORT
|
Report Date : |
11.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADANI ENTERPRISES LIMITED |
|
|
|
|
Formerly Known
As : |
ADANI EXPORTS
LIMITED |
|
|
|
|
Registered
Office : |
Adani House, Shrimali
Society, Near Mithakhali |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.03.1993 |
|
|
|
|
Com. Reg. No.: |
04-19067 |
|
|
|
|
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
: |
1000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Maximum Credit Limit : |
USD 391000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is
controlled and financed by Adani family. The company is a Government Recognized
Star Trading House having fine track of performance and financial status.
Available information indicates high financial responsibility of the company.
Payments are as per commitments. The company can be
considered normal for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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., Naroda Road, Ahmedabad - 380025, Gujarat, India |
|
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 31.03.2011)
|
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) |
|
|
|
|
Name : |
Mr. Vasant S. Adani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jay H. Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Pravin P. Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. A. C. Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Yoshihiro Miwa |
|
Designation : |
Director |
|
|
|
|
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) |
KEY EXECUTIVES
|
Name : |
Mr. Devang Desai |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2012)
|
Names of Category |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,335,156 |
0.21 |
|
|
116,731,483 |
10.61 |
|
|
647,633,621 |
58.89 |
|
|
646,074,910 |
58.74 |
|
|
1,558,711 |
0.14 |
|
|
766,700,260 |
69.71 |
|
|
|
|
|
|
|
|
|
|
90,941,484 |
8.27 |
|
|
3,688,000 |
0.34 |
|
|
94,629,484 |
8.60 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
861,329,744 |
78.32 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
681,130 |
0.06 |
|
|
7,656,814 |
0.70 |
|
|
170,926,471 |
15.54 |
|
|
7,758 |
- |
|
|
179,272,173 |
16.30 |
|
|
|
|
|
|
|
|
|
|
22,027,529 |
2.00 |
|
|
|
|
|
|
12,427,585 |
1.13 |
|
|
2,710,981 |
0.25 |
|
|
|
|
|
|
22,042,071 |
2.00 |
|
|
5,453,887 |
0.50 |
|
|
10,000 |
- |
|
|
1,612,251 |
0.15 |
|
|
14,965,933 |
1.36 |
|
|
59,208,166 |
5.38 |
|
|
|
|
|
Total Public
shareholding (B) |
238,480,339 |
21.68 |
|
|
|
|
|
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 |
1 |
(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. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
1000
(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,
Gujarat, India |
|
|
|
|
Controlling
Entity : |
Shantilal
Bhudhermal Adani Family Trust (SBAFT) |
|
|
|
|
Subsidiary Companies : |
· Adani Infrastructure and Developers Private Limited · Adani Developers Private Limited · Adani Landscapes Private Limited · Columbia Chrome (India) 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 · Maharashtra Eastern Grid Power Transmission Company Limited · Mahaguj Power Limited · Adani Mining Private Limited · Sarguja Rail Corridor Private Limited · Chendipada Collieries Private Limited · Mundra Port and Special Economic Zone 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 Pernitis Sejati, Indonesia · PT Lamindo Inter Multikon, Indonesia · PT Mitra Naiga Mulia, Indonesia · PT Pahala Buana Abadi, Indonesia · PT Sumber Bumi Lestari, Indonesia · PT Suar Harapan Bangsa, Indonesia · PT Tambang Sejahtera Bersama, Indonesia · 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 (India) Private Limited · Adani Infra (India) Limited · Adani Global Limited, Mauritius · Adani Global Pte. Limited, Singapore · Adani Shipping Pte. Limited, Singapore · Rahi Shipping Pte. Limited, Singapore · Vanshi Shipping Pte. Limited., Singapore · Adani Power Pte. Limited, Singapore · Adani Global FZE, Dubai · Adani Power (Overseas) Limited, Dubai · Adani Mining Pty Limited, Australia · PT Adani Global, Indonesia · PT Kapuas Coal, Mining, Indonesia · PT Adani Global Coal Trading, Indonesia (Formerly PT Aneka Sumber Bumi, Indonesia) · PT Coal Indonesia, Indonesia · PT Mundra Coal, Indonesia · PT Sumber Bara, Indonesia · PT Energy Resources, Indonesia · PT Sumber Dana Usaha, Indonesia · PT Setara Jasa, Indonesia · PT Niaga Antar Bangsa, Indonesia · PT Niaga Lintas Samudra, Indonesia · PT Andalas Bumi Persada, Indonesia · PT Citra Persada Luhur, Indonesia · PT Gemilang Pusaka Pertiwi, Indonesia · PT Adani Sumselon, Indonesia · PT Hasta Mundra, Indonesia · Adani Virginia Inc. (Upto 1st October, 2010) · Bay Bridge Enterprise LLC (Upto 1st October, 2010) · M/s. Adani Township and Real Estate Company · M/s. Adani Exports · Adani Renewable Energy LLP |
|
|
|
|
Associate Entities : |
· Aditya Corpex Private Limited · Hinduja Exports Private Limited · Adani Commodities (Formerly Adani Investments) · iCall India Private Limited, (Upto 25th November, 2010) · M/s. Ezy Global · Adani Agro Private Limited · Adani Properties Private Limited · GSEC Limited |
|
|
|
|
Joint Control : |
· Adani Wilmar Limited · Chemoil Adani Pte Limited Singapore · Parsa Kente Collieries Limited · Adani Welspun Exploration Limited · Chemoil Adani Private Limited · Adani Wilmar Pte. Limited Singapore |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
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 |
|
|
|
|
|
NOTES:
Of the above Equity Shares
(i) 6,06,88,675 Equity Shares of Rs.1/- each were
allotted as fully paid up at premium on conversion of foreign currency
convertible bonds.
(ii) 50,00,000
Equity Shares of Rs.1/- each were allotted as fully paid up at premium without
payment being received in cash, on amalgamation.
(iii) 50,00,000 Equity
Shares of Rs.1/- each were issued as Bonus Shares by capitalization of profit.
(iv) 41,33,70,675
Equity Shares of Rs.1/- each were issued as Bonus shares by capitalization of share premium.
(v) 3,11,26,659
Equity Shares of Rs.1/- each were issued at premium of Rs.474/- on Rights
Basis.
(vi) 46,48,99,087
Equity Shares of Rs.1/- each were allotted as fully paid up at par without
payment being received in cash, on amalgamation.
(vii) 7,46,05,987
Equity Shares of Rs.1/- each were allotted as fully paid up at premium to
Qualified Institutional Buyers.
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 |
1099.800 |
498.000 |
246.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
96581.900 |
19203.000 |
16184.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
97681.700 |
19701.000 |
16431.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
173.800 |
3538.200 |
|
|
2] Unsecured Loans |
6235.000 |
34539.300 |
28529.000 |
|
|
TOTAL BORROWING |
6235.000 |
34713.100 |
32067.200 |
|
|
DEFERRED TAX LIABILITIES |
9.400 |
176.500 |
198.400 |
|
|
|
|
|
|
|
|
TOTAL |
103926.100 |
54590.600 |
48696.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2381.400 |
1606.400 |
2100.800 |
|
|
Capital work-in-progress |
1228.200 |
316.100 |
119.200 |
|
|
Capital Advance |
286.000 |
193.500 |
69.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
34727.700 |
23810.100 |
22176.900 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4709.100
|
2661.500
|
3318.000 |
|
|
Sundry Debtors |
10241.300
|
14124.600
|
17424.200 |
|
|
Cash & Bank Balances |
1221.000
|
11824.100
|
13802.100 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
62835.200
|
20074.000
|
7965.900 |
|
Total
Current Assets |
79006.600
|
48684.200
|
42510.200 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
7271.600
|
5262.300 |
12283.800 |
|
|
Other Current Liabilities |
2667.400
|
11961.800
|
3814.400 |
|
|
Provisions |
3764.800
|
2818.200
|
2181.800 |
|
Total
Current Liabilities |
13703.800
|
20042.300
|
18280.000 |
|
|
Net Current Assets |
65302.800
|
28641.900
|
24230.200 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
22.600 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
103926.100 |
54590.600 |
48696.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
29268.500 |
115847.800 |
115750.500 |
|
|
|
Other Income |
5276.600 |
1713.100 |
128.400 |
|
|
|
TOTAL (A) |
34545.100 |
117560.900 |
115878.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
24585.400 |
104621.800 |
104646.400 |
|
|
|
Personnel Expenses |
959.800 |
384.300 |
627.300 |
|
|
|
Operation and Other Expenses |
4987.000 |
5096.300 |
4562.100 |
|
|
|
Prior Period Adjustments |
2.900 |
10.400 |
(8.300) |
|
|
|
Exceptional Items |
492.000 |
(58.500) |
40.200 |
|
|
|
TOTAL (B) |
31027.100 |
110054.300 |
109867.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3518.000 |
7506.600 |
6011.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
746.200 |
4501.500 |
2144.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2771.800 |
3005.100 |
3866.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
132.700 |
127.600 |
120.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2639.100 |
2877.500 |
3746.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(52.000) |
333.400 |
481.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2691.100 |
2544.100 |
3264.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9902.900 |
8439.500 |
6063.800 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed
Dividend on Equity Shares |
1099.800 |
498.000 |
246.700 |
|
|
|
Dividend
for Earlier Year |
113.900 |
0.000 |
0.000 |
|
|
|
Tax
on Dividend (including surcharge) |
203.900 |
82.700 |
41.900 |
|
|
|
Dividend Cancelled Due to Cancellation of Cross Holding in Amalgamated
Entity |
(55.600) |
0.000 |
0.000 |
|
|
|
Transfer
to General Reserve |
500.000 |
500.000 |
500.000 |
|
|
|
Transfer
to Debenture Redemption Reserve |
0.000 |
0.000 |
100.000 |
|
|
BALANCE CARRIED
TO THE B/S |
10732.000 |
9902.900 |
8439.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of Goods on F.O.B. Basis |
487.600 |
36887.700 |
59879.400 |
|
|
TOTAL EARNINGS |
487.600 |
36887.700 |
59879.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
20224.400 |
78781.000 |
56665.900 |
|
|
TOTAL IMPORTS |
20224.400 |
78781.000 |
56665.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.53 |
5.13 |
6.62 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
10581.600 |
16159.400 |
12013.100 |
14067.890 |
|
Total Expenditure |
10416.800 |
15844.100 |
11663.900 |
13574.310 |
|
PBIDT (Excl OI) |
164.800 |
315.300 |
349.200 |
493.580 |
|
Other Income |
1296.700 |
870.300 |
966.900 |
1482.670 |
|
Operating Profit |
1461.500 |
1185.600 |
1316.100 |
1976.250 |
|
Interest |
272.900 |
507.500 |
454.600 |
514.300 |
|
Exceptional Items |
(0.300) |
0.700 |
(0.800) |
(20.090) |
|
PBDT |
1188.300 |
678.800 |
860.700 |
1441.860 |
|
Depreciation |
52.400 |
42.500 |
70.700 |
133.320 |
|
Profit Before Tax |
1135.900 |
636.300 |
790.000 |
1308.540 |
|
Tax |
186.600 |
176.100 |
287.600 |
(396.760) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
949.300 |
460.200 |
502.400 |
1705.300 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
949.300 |
460.200 |
502.400 |
1705.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.79
|
2.16 |
2.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.02
|
2.48 |
3.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.24
|
5.72 |
8.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.15 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.20
|
2.78 |
3.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.77
|
2.43 |
2.33 |
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 |
No |
|
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 |
PERFORMANCE
OF THE COMPANY
The Company continued
its focus on consolidation, reducing its overall debt and posted yet another
year of impressive performance with a healthy top line growth and high
earnings, reflecting robustness of its corporate strategy of creating multiple
drivers of growth over that of previous year as under:
STANDALONE
FINANCIAL PERFORMANCE:
On standalone
basis, the Company registered gross revenue of Rs.34545.100 Millions as
compared to Rs. 117560.900 Millions in the previous year. The net profit after
tax stood at Rs.2691.100 Millions against Rs.2544.100 Millions in the previous
year.
SIGNIFICANT DEVELOPMENTS:
AMALGAMATION
During the
financial year 2010-11, certain promoter entities of M/s Mundra Port and
Special Economic Zone Limited (MPSEZ) i.e
Adani Infrastructure Services Private Limited, Advance Tradex Private
Limited, Adani Tradelinks Private Limited, Pride Trade and Investment Private
Limited, Mauritius, Trident Trade and Investment Private Limited, Mauritius,
Radiant Trade and Investment Private Limited, Mauritius and Ventura Trade and
Investment Private Limited, Mauritius (hereinafter collectively referred to as
“Transferor Companies”) have been merged with your Company, pursuant to
sanction of Scheme of Amalgamation by the Hon’ble High Court of Gujarat vide its
order dated 12th August, 2010.
The certified copy
of the said order has been filed with the Registrar of Companies, Gujarat. As a
result, the said scheme of amalgamation has become effective from the appointed
date (i.e. 1st April, 2010 in case of all transferor companies other than
Advance Tradex Private Limited and 20th April, 2010 in case of Advance Tradex
Private Limited). Since the scheme of Amalgamation has become effective, M/s
MPSEZ has become a subsidiary of the Company with 77.49% shareholding by the
Company.
QIP Issue
In accordance with the approval
accorded by the members by way of postal ballot process on 16th June, 2010, the
Company has successfully raised Rs.40000.000
Millions through an issue of 7,46,05,987 Equity Shares of Rs.1/- each issued at a price of Rs.536.15/- per share (including
premium of Rs.535.15/-
per share) under Qualified Institutions Placement (QIP). These shares have been
listed on Bombay Stock Exchange Limited (BSE) and National Stock Exchange of
India Limited (NSE).
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
ECONOMIC
OUTLOOK
The growth in the year 2010-11
has been swift and broad-based. The economy is back to its pre-crisis growth
trajectory. While agriculture has shown a rebound, industry is regaining its
earlier momentum. Service sector continues its near double digit run. Fiscal
consolidation has been impressive. This year has also seen significant progress
in those critical institutional reforms that would set the pace for
double-digit growth in the near future. The Gross Domestic Product (GDP) of
India is estimated to have grown at 8.6 per cent in 2010-11 in real terms. More
importantly, the economy has shown remarkable resilience to both external and
domestic shocks. Though the development on India’s external sector in the
current year have been encouraging, our principal concern this year has been
the continued high food prices. The Company continued to strengthen its
businesses and has sustained its position in the global market and posted
encouraging performance for the year.
CORE
BUSINESS EMERGING ENERGY AND LOGISTICS CONGLOMERATE
The Company is a diversified
conglomerate based in India having a global footprint with primary interests in
Energy and Logistics sectors.
The Company has integrated
presence across the value chain from Integrated Coal Management Coal Mining
Ports and Logistics Power Generation and Transmission. The unique strengths lie
in being able to integrate across the value chain, right from mining to rail
and port logistics, shipping and finally to power generation. The Company has
diversified interests in Power, Mining, Oil and Gas Explorations, Natural Gas
Distribution Businesses supported by Port, Shipping and Trading activities.
COAL MINING
AND INTEGRATED COAL MANAGEMENT
COAL MINING
The coal mining business involves mining, processing, acquisition,
exploration and development of mining assets.
Coal Mining
in Indonesia
PT Adani Global, Indonesia
a wholly-owned subsidiary of the Company, has been awarded coal mining
concessions in PT Lamindo Inter Multikon and PT Mitra Niaga Mulia (its step
down subsidiaries) in Bunyu island, Indonesia from which coal is used for the
captive consumption in power projects being developed by Adani Power Limited in
Mundra. The Bunyu Mine has reserves of approx. 150 million metric tonnes and
2.52 million metric tonnes (MMT) of coal is mined from the same during the year
2010-11. The Company has during the year imported Continuous Miner from Joy
Mining Machinery Limited, USA, which will increase the coal mining capacity in
the FY 2011-12.
Coal Mining in
Australia
The Company has
acquired 100% interest in the Galilee Coal Tenement in Queensland, Australia
having estimated resource of 7.8 billion tonnes. The mine is capable of
producing up to 60 million tonnes of coal at peak capacity. The coal mine is
located in Central Queensland, approx. 300 km south of Townsville and 280 km
west of Mackay. The proposed investment by the Company in Australia represents
the largest ever Indian investment in Australia. The Company will also be
developing associated rail and port facilities to evacuate coal from the Mine.
We are targeting first coal by the end of FY 2015 and a production of between
50 and 60 MMTPA to be achieved by FY 2022.
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 Chhattisgarh State and transportation of coal upto End Use Thermal Power
Station located at Marwa in Janjgir – Champa Dist., Chhattisgarh. The
Commercial production is expected to commence from the year 2014 onwards.
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
India’s power demand soars, the importance of coal increases in the overall
Power value chain. Although India is one of the largest coal consuming and
producing nations in the world, it heavily depends on imported coal.
Today, the Company
is the largest private sector coal importer into India and continues to improve
its coal business by expanding its sourcing network, cost effective shipping
and timely door delivery structure at the power stations.
The Company has
entered into long-term arrangement for uninterrupted supply of imported coal
with some of the biggest suppliers in Indonesia. Coal demand is expected to
increase substantially in the coming years, which will strengthen the Company’s
presence in this segment.
The Company
undertakes coal trading business directly and through its subsidiaries, Adani
Global FZE, Dubai and Adani Global Pte. Limited, Singapore. They believe that
we were one of the largest traders of coal in India for fiscal 2011. We source
coal mainly from suppliers in Indonesia, South Africa and Australia and supply
it to various states within India.
PORTS AND
LOGISTICS
The Company’s subsidiary, Mundra
Port and Special Economic Zone Limited, (Mundra Port) has shown impressive
performance during the year.
Highlights of the
Overall Performance:
Total number of
vessels handled at Mundra Port 2,517 (2,339 vessels in 2009-10 i.e. a growth of
9.3% year on year).
Cargo volumes have
improved across all segments (cargo handeled in 2009-10 was 40.29 millions
tonnes and 2010-11 was 51.68 million tonnes which shows a growth of 27.97% year
on year).
Railway
• Total number of rakes
handled in 2010-11 is 8,121
• Commissioning of
four lines at R&D Yard with RRI (Route Relay Interlocking) type of
signaling system
• Works on the
anvil:
Doubling of 64 KM
railway track from Adipur to Mundra has been commenced in 2010-11 and expected to
be completed by second quarter of 2012-13.
Dry Cargo
• 22.66 million ton of dry cargo handled during 2010-11.
Adani Mundra
Container Terminal (AMCT)
• Mundra Port has
crossed one million TEU’s mark during the financial year and ended handling
total 1.23 million TEU’s. Thus, becoming third port in country to reach one
million TEU throughout.
• Largest
container ship to call to India so far, the MSC’s operated 8,400 TEU vessel M.
V. Northern Jaguar called at AMCT on 12th October 2010.
Marine
• Mundra Port West basin
commenced its commercial operations on 12th December, 2010 with the berthing of
its first cargo vessel M.V. CSK Beilun with LOA of 289 mtrs. and beam of 45
mtrs. With the commissioning of the West Basin, Mundra Port has become the
world’s largest coal receiving terminal with 60 MMT capacity.
• Mundra port became the only
port in India to have its own mini shipyard in which air balloon technology was
used to up-slip a tug.
Adani
Automobile terminal:
• Total 1,05,382
cars exported in the financial year 2010-11.
• Executed first
shipment (Stock Yard, Mumbai to Vessel) of Tata Motors comprising of 5 trucks
in January, 2011. Mundra Port is the first port in India to take up this
activity as a single window activity.
Liquid
• New Vegetable Oil
tank farm (encl. 15 & 16) with a capacity of 80,000 KL constructed.
• Highest single
export consignment handeled with 39,338 MT in August 2010.
Special
Economic Zone
During the year, Mundra
Port has focused on development of robust infrastructure for supporting the
industrial development within the Special Economic Zone (SEZ). Construction of
Road Over Bridge within the Zone has been completed enabling seamless
connectivity to the Port and SEZ development. Elaborate arterial road network
has been completed for SEZ users. Execution of utility infrastructures like
common effluent treatment plant (CETP), water desalination plant has also been
completed. Work for doubling of Mundra-Adipur rail line has been undertaken.
The Co-developers
of SEZ have provided various social infrastructure facilities such as housing,
hospital, school in the SEZ MPSEZ Utilities Private Limited (MUPL), a 100%
subsidiary of Mundra Port and approved co-developer, has developed electricity
distribution network and started distribution of electricity in the SEZ. In
addition to the eight Co-developers approved by the Government of India, three
more co developers have obtained approval for setting up LNG Facilities and Gas
based power plant, Airport and related infrastructure facilities and Industrial
Training Institute.
The Development
Commissioner’s Office is functional within the SEZ and the SEZ units are
obtaining required approvals within the Zone itself. By now total 22 units have
been approved for setting up manufacturing and service facilities in the SEZ.
Total investment by these units is expected to be more than Rs.42000.000
Millions. Some of the approved units have already started export activities in
the Zone.
POWER GENERATION
AND TRANSMISSION
Adani Power
Limited, their subsidiary together its subsidiaries currently has nine power
projects with a combined installed capacity of 16,500 MW, out of which 1980 MW
has been commissioned, 7,260 MW is under implementation and 7,260 MW is at the
planning stage. The said Company intends to sell the power generated from these
projects under a combination of long-term PPAs and on merchant basis. The said
Company gets the synergistic benefit of integrated value chain of Adani Group.
CITY GAS
DISTRIBUTION
The city gas
distribution business is undertaken through our Wholly Owned Subsidiary, Adani
Gas Limited (“Adani Gas”) with an objective to provide Piped Natural Gas
(“PNG”) to household and industrial consumers and Compressed Natural Gas
(“CNG”) for use in automobiles. Adani Gas has set up a gas distribution network
of approximately 345 km of steel pipeline network and approximately 2,000 km of
polyethylene pipelines spread across Ahmedabad and Vadodara in Gujarat and Faridabad
in Haryana, Noida, Khurja and Lucknow in Uttar Pradesh and Jaipur and Udaipur
in Rajasthan, and 58 CNG stations in Ahmedabad and Vadodara in Gujarat and
Faridabad in Haryana. Adani Gas is also serving approx. 450 industrial units,
90,000 households and 700 commercial units in these cities through its
infrastructure network.
Adani Gas has
received “No Objection Certificates” from respective State Governments to
develop, construct, own, operate and maintain city gas distribution projects in
Lucknow, Noida, and Khurja in Uttar Pradesh, and Udaipur, Jaipur in Rajasthan.
It has already initiated the infrastructure development in these cities to meet
the fuel needs of industrial and domestic consumers. Pursuant to the enactment
of the Petroleum and Natural Gas Regulatory Board Act, 2006, Adani Gas has
applied to Petroleum and Natural Gas Regulatory Board for authorization of its
operations in Lucknow, Noida, Khurja, Udaipur and Jaipur.
OIL AND GAS
EXPLORATION
As part of their
integrated strategy they have entered the oil and gas exploration sector and
formed a joint venture, Adani Welspun Exploration Limited (“Adani Welspun”) in
which they have 65% stake.
DOMESTIC OIL AND GAS BLOCKS
The Company, in a consortium
with Naftogaz India Private Limited and Welspun group have been awarded 2 Oil
and Gas blocks under NELP VI (Assam Block and Palej Block) which covers a total
area of approx. 95 and 75 square kms respectively. The Company holds 55%
participating interest in each of the aforesaid two blocks and is a
non-operator. The seismic acquisition, processing and interpretation activity
have already been completed in both the blocks. The consortium has also
successfully completed the drilling campaign of three wells in Palej Block
whereas the drilling in the Assam Block is to commence during the year 2011-12.
Adani Welspun was
awarded a 100% participating interest in Block under NELP VII (“Mumbai Offshore
Block”) under a production sharing contract which covers a total area of
approx. 1191 square kms. The seismic acquisition, processing and interpretation
activities have already been completed in the block while the drilling activity
is likely to commence during the 3rd Quarter of FY 2011-12.
Adani Welspun in a
consortium with Oil and Natural Gas Corporation Limited (“ONGC”), Indian Oil
Corporation Limited (“IOC”) and Gujarat State Petroleum Corporation Limited
(GSPC) have been awarded an exploration block located offshore in the Gulf of
Kutchh region covering a total area of approx. 1264 square kms. The said
Company also in a consortium with ONGC and IOC has been awarded another
exploration block located offshore in the Gulf of Kutchh region which covers a
total area of approx. 1242 square kms. Adani Welspun has 20% and 30%
participating interest in the aforesaid respective blocks and is a
non-operator. The 3 D Seismic Data Acquisition activities have already been
started in both the blocks.
OVERSEAS OIL AND GAS BLOCKS
Adani Welspun was
awarded petroleum concessions of two onshore blocks, L39/48 and L22/50 with a
total area of approx. 3,975 square km. and 3,947 square km. respectively, for a
period of six years by the Ministry of Energy of the Government of Thailand.
The 2 D Seismic Acquisition, Processing and Interpretation has already been
completed in both the blocks. The Company is likely to commence drilling
operations during the third quarter of the FY 2011-12.
Adani Welspun, in
consortium with GSPC, was awarded an Exploration block in Egypt. This block is
located offshore in the Gulf of Suez region and covers total surface area of
approx. 108 square kms. Adani Welspun holds 40% participating interest in the
consortium and is a nonoperator.
As part of its
strategy for growth Adani Welspun is actively pursuing various business
opportunities globally as well as within the country to acquire assets that are
in development, re-development or production.
SHIP
FUELLING (51:49) JV WITH CHEMOIL ENERGY LIMITED OF SINGAPORE
Chemoil Adani
Private Limited (CAPL) our 51% : 49% joint venture Company with Chemoil Group,
Singapore continues to be leading Ship bunker (Fuel oil and Marine Gas Oil)
supplier in India. During the year under review, CAPL has leased one floating
barges with an approximate capacity of 3000 metric tons to refuel vessels. CAPL
is planning for expanding its physical operations at ports like Goa, Haldia,
Paradeep during the FY 2011-12.
AGRO-STORAGE
BUSINESS
The Wholly Owned
Subsidiary, Adani Agri Fresh Limited (“Adani Agri Fresh”) has been developing
integrated storage, handling and transportation infrastructure. Adani Agri
Fresh has set up modern controlled atmosphere storage facilities at three
locations, Rewali, Sainj, and Rohru in Himachal Pradesh with a combined
capacity of approximately 18,000 metric tonnes of Apple per year. Adani Agri
Fresh has also set up a marketing network in major towns across India to cater
to the needs of wholesale, cash and carry and organized retail customers. Adani
Agri Fresh markets Apple under the brand name “Farm-pik” across the country.
Adani Agri Fresh
has also started importing Apple, Pear, Kiwi, Orange etc from various countries for sale in
India.
AGRO-SUPPLY BUSINESS
The Wholly Owned Subsidiary,
Adani Agri Logistics Limited (“AALL”) has entered into a service agreement with
the Food Corporation of India (FCI) to implement a bulk food grains handling,
storage and transportation network on a commercial Build, Own, and Operate
basis. Pursuant to this, AALL has developed, designed, financed, constructed,
and currently operates and maintains facilities for bulk handling and storage
of food grains procured and handled by FCI for distribution. AALL has invested
close to Rs.7000.000 Millions in the entire infrastructure. The project is on a
20 year guarantee period from the Ministry of Food and Consumer Affairs. At
present, AALL has seven storage facilities in India, including Moga, Kaithal,
Hooghly, Navi Mumbai, Chennai, Coimbatore and Bangalore. The total storage
capacity of 5.5 Lac MT foodgrain is spread across these seven locations. AALL
plans to create more storage capacities and related infrastructure at multiple
locations across India to expand its
business.
CONTINGENT LIABILITIES NOT PROVIDED FOR
(Rs. In millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
a) Claims against the Company
not acknowledged as Debts |
30.000 |
100.800 |
|
|
|
|
|
b) In respect of : |
|
|
|
Income Tax |
304.200 |
134.500 |
|
Service Tax |
124.100 |
106.700 |
|
Sales Tax |
248.400 |
273.000 |
|
Custom Duty |
607.000 |
414.900 |
|
Excise Duty |
25.600 |
9.200 |
|
FERA / FEMA |
41.600 |
41.600 |
|
Others |
3.500 |
-- |
|
|
|
|
|
c) In respect of Corporate
Guarantee given:- |
|
|
|
II To it’s Subsidiaries |
3452.000 |
2948.000 |
|
III For obligations to
Associates |
677.000 |
1439.100 |
|
|
|
|
|
d) Bills of Exchange Discounted |
596.300 |
3558.400 |
|
|
|
|
|
e) In respect of Bank Guarantees
given to Government agencies. |
135.900 |
345.100 |
|
|
|
|
|
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 section14 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
uncertainable. |
||
|
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 uncertainable. |
||
|
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
·
Building
·
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 India, the Group completed re-financing of USD 2 billion for Abbot Point Coal Terminal in Australia. Also, it received letter of intent to set up a dry bulk terminal at Kandla.
Port, commissioned India’s largest thermal power plant with a capacity of 4,620 MW at Mundra and the country’s largest solar power project of 40 MW in Kutch, the company added.
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.55.36 |
|
|
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
81 |
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.