MIRA INFORM REPORT
PRELIMINARY REPORT
|
Report Date : |
21.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAIPRAKASH ASSOCIATES LIMITED (w.e.f. 11.03.2004) |
|
|
|
|
Formerly known as: |
JAYPEE CEMENT
LIMITED |
|
|
|
|
Registered Office : |
Sector 128,
Noida-201304, Uttar Pradesh |
|
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|
|
Country : |
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|
|
|
Financials (as on) : |
31.03.2011 |
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|
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Date of Incorporation : |
15.11.1995 |
|
|
|
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Com. Reg. No.: |
20-19017 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.4252.900 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L14106UP1995PLC019017 |
|
|
|
|
TAN No.: [Tax Deduction
& Collection Account No.] |
LKNJ05124A |
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|
|
PAN No.: [Permanent Account No.] |
APPLIEDFOR |
|
|
|
|
Legal Form : |
A Public Limited
Liability Company. The company’s shares are listed on the Stock Exchanges. |
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|
|
Line of Business : |
Manufacturing, Importing
and Exporting of Portland Cement and Clinker Cement. |
|
|
|
|
No. of Employees : |
20000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 37000000 |
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|
|
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well
established and a reputed company of Jaypee group. Financial position of the
company appears to be sound. Directors are reported
to be an experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be
considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Sector 128,
Noida-201304, |
|
Tel No.: |
91-120-4609000 /
2470800 |
|
Fax No.: |
91-120-4609464 /
4609496 |
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E-Mail : |
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Website : |
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Corporate Office : |
Jai Annexe House, 63,
Basant Lok, Vasant Vihar, New Delhi-110 057, |
|
Tel. No.: |
91-11-26411540 /
26147411 / 26149444 / 26141540 |
|
Fax No.: |
91-11-26145389 /
26148890 / 26143591 |
|
E-Mail : |
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|
Head Office : |
G-Block, |
|
Factory 1 : |
Bela, Sadva Khurd, District |
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|
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Factory 2 : |
Naubastae, Tanda, District Faizabad, |
DIRECTORS
As on : 31.03.2011
|
Name : |
Mr. Jaiprakash
Gaur |
|
Designation : |
Founder Chairman |
|
|
|
|
Name : |
Mr. S. K. Jain |
|
Designation : |
Vice Chairman |
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|
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|
Name : |
Mr. Manoj Gaur |
|
Designation : |
Executive Chairman
and Chief Executive Officer |
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|
|
|
Name : |
Mr. Sunil Kumar
Sharma |
|
Designation : |
Executive Vice
Chairman |
|
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|
Name : |
Mr. M. J. Subbiah |
|
Designation : |
Director (Nominee
– ICICI) |
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|
|
|
Name : |
Mr. A K Sahoo |
|
Designation : |
Director (LIC
Nominee) |
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|
|
Name : |
Mr. Gopi K. Aroara |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Prabodh Varaglal
Vora |
|
Designation : |
Director |
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|
Name : |
Mr. D. N. Davar |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Sunny Gaur |
|
Designation : |
Managing Director
(Cement) |
|
|
|
|
Name : |
Mr. Ranvijay Singh |
|
Designation : |
Whole-time
Director |
|
|
|
|
Name : |
Mr. Rahul Kumar |
|
Designation : |
Whole-time
Director |
|
|
|
|
Name : |
Mr. Samir Gaur |
|
Designation : |
Additional
Director and Whole-time Director |
|
|
|
|
Name : |
Mr. Pankaj Gaur |
|
Designation : |
Joint Managing
Director (Construction) |
|
|
|
|
Name : |
Mr. Suren Jain |
|
Designation : |
Additional
Director |
|
Name : |
Mr. Rakesh Sharma |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. D. Nailwal |
|
Designation : |
Whole-time Director
and Chief Financial Officer |
|
|
|
|
Name : |
Mr. M. S.
Srivastava |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. B. Samal |
|
Designation : |
Director (IDBI
Nominee) |
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|
|
|
Name : |
Mr. B K Taparia |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S C Bhargava |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R N Bhardwaj |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S C Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. B K Goswami |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R K Singh |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Viney Kumar |
|
Designation : |
IDBI Nominee |
KEY EXECUTIVES
|
Name : |
Mr. Harish K. Vaid |
|
Designation : |
Senior President
(Corporate Affairs) and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
72508076 |
3.41 |
|
|
734992146 |
34.56 |
|
|
189316882 |
8.90 |
|
|
189316882 |
8.90 |
|
|
996817104 |
46.88 |
|
|
|
|
|
|
117760 |
0.01 |
|
|
117760 |
0.01 |
|
Total
shareholding of Promoter and Promoter Group (A) |
996934864 |
46.88 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
149406801 |
7.03 |
|
|
13424629 |
0.63 |
|
|
110732797 |
5.21 |
|
|
395275136 |
18.59 |
|
|
668839363 |
31.45 |
|
|
|
|
|
|
129323899 |
6.08 |
|
|
|
|
|
|
260389213 |
12.25 |
|
|
29385920 |
1.38 |
|
|
41559923 |
1.95 |
|
|
14553583 |
0.68 |
|
|
9582166 |
0.45 |
|
|
4908200 |
0.23 |
|
|
3372386 |
0.16 |
|
|
9143588 |
0.43 |
|
|
460658955 |
21.66 |
|
Total Public
shareholding (B) |
1129498318 |
53.12 |
|
Total (A)+(B) |
2126433182 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total
(A)+(B)+(C) |
2,126,433,182 |
- |
(1) Indian
Individuals / Hindu Undivided Family
TrustsBUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Importing and Exporting of Portland Cement and Clinker Cement. |
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Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
31.03.2011 |
|
Capacity and Production: |
|
|
Installed Capacity - Per annum |
21500000* |
|
Production - Portland Cemen |
14675679** |
|
- Clinker (Production for Sale |
525380** |
Note :
1. * as on 31.03.2011
2. ** as certified by the management
GENERAL INFORMATION
|
No. of Employees : |
20000 (Approximately) |
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Bankers : |
·
Allahabad Bank ·
Andhra Bank ·
AKA Export Finance
Bank ·
Axis Bank Limited ·
Bank of Baroda ·
Bank of Bhutan ·
Bank of India ·
Bank of
Maharashtra ·
Canara Bank ·
Central Bank of
India ·
Citi Bank N.A. ·
Corporation Bank ·
Export Import Bank
of India ·
HDFC Bank Limited ·
HSBC Ltd. ·
ICICI Bank Limited ·
Indian Bank ·
Indian Overseas
Bank ·
IDBI Bank Limited ·
Karur Vysya Bank ·
Karnataka Bank ·
Kotak Mahindra
Bank ·
Oriental Bank of
Commerce ·
Punjab National
Bank ·
Punjab and Sind
Bank ·
Royal Bank of
Scotland ·
Standard Chartered
Bank ·
State Bank of
India ·
State Bank of
Hyderabad ·
State Bank of
Indore ·
State Bank of
Mysore ·
State Bank of
Patiala ·
State Bank of
Sikkim ·
State Bank of
Travancore ·
State Bank of
Bikaner and Jaipur ·
Syndicate Bank ·
The Jammu and
Kashmir Bank Limited ·
UCO Bank ·
Union Bank of
India ·
United Bank of
India ·
Vijaya Bank ·
Yes Bank Limited |
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Facilities : |
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
M. P. Singh and
Associates Chartered
Accountants |
|
Address : |
B-8/14, Vasant
Vihar, New Delhi-110057, |
|
Tel No.: |
91-11-26141979 |
|
Fax No.: |
91-11-26148150 |
|
E mail: |
|
|
|
|
|
Associates: |
1.
Jaypee Ventures
Private Limited 2.
Jaypee Development
Corporation Limited 3.
Jaiprakash Kashmir
Energy Limited 4.
JIL Information Technology
Limited 5.
Gaur and Nagi
Limited 6.
Indesign
Enterprises Private Limited 7.
Sonebhadra
Minerals Private Limited 8.
RPJ Minerals
Private Limited 9.
Jaiprakash Agri
Initiatives Company Limited 10. Tiger Hills Holiday Resort Private Limited 11. Anvi Hotels Private Limited 12. Sarveshwari Stone Products Private Limited 13. Rock Solid Cement Limited 14. MP Jaypee Coal Limited 15. Jaypee International Logistics Company Private
Limited 16. Jaypee Hotels Limited 17. Jaypee Mining Venture Private Limited 18. Jaypee Infra Ventures (A Private Company with unlimited
liability) 19. Indus Hotels UK Limited 20.
Ceekay Estates
Private Limited |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Joint Venture Company: |
1.
Bhilai Jaypee Cement Limited 2.
Bokaro Jaypee Cement Limited 3.
Gujarat Jaypee Cement and Infrastructure Limited 4.
Jaypee Powergrid Limited [Joint Venture
Subsidiary Company of Jaiprakash Power Ventures Limited] 5.
Jaypee Arunachal Power Limited [Joint Venture
Subsidiary |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12344000000 |
Equity Shares |
Rs.2/- each |
Rs.24688.000 Millions |
|
3120000 |
Preference Shares |
Rs.100/- each |
Rs.312.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 25000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2126433182 |
Equity Shares |
Rs.2/- each |
Rs.4252.900
Millions |
|
|
|
|
|
Notes :
860865055 Equity Shares allotted for
consideration other than cash in terms of the Scheme of Amalgamation effective
from 11.03.2004;
20219850 Equity Shares allotted for cash under
“Jaypee Employees Stock Purchase Scheme 2002
173178150 Equity Shares allotted for cash on
conversion of Foreign Currency Convertible Bonds
124378825 Equity Shares allotted in terms of
Scheme of Amalgamation effective from 22.08.2006
10000000 Equity Shares allotted for cash to
Promoters on Preferential Basis
218010985 Equity Shares allotted pursuant to
Scheme of Amalgamation effective from 27.05.2009
12500000 Equity Shares allotted for cash under
"Jaypee Employees Stock Purchase Scheme 2009” an
707280317 Equity Shares allotted as Bonus
Shares
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 |
4252.900 |
4249.300 |
2803.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
89720.800 |
80757.900 |
62588.500 |
|
|
4] Equity Warrants |
0.000 |
0.000 |
1588.000 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
93973.700 |
85007.200 |
66980.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
149296.200 |
113580.100 |
73382.800 |
|
|
2] Unsecured Loans |
67780.200 |
65507.000 |
57678.900 |
|
|
TOTAL BORROWING |
217076.400 |
179087.100 |
131061.700 |
|
|
DEFERRED TAX LIABILITIES |
12204.200 |
9232.500 |
7200.400 |
|
|
|
|
|
|
|
|
TOTAL |
323254.300 |
273326.800 |
205242.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
119568.800 |
106186.800 |
68179.100 |
|
|
Capital work-in-progress |
63526.800 |
38916.400 |
50819.400 |
|
|
|
|
|
|
|
|
INVESTMENT |
64837.500 |
55762.600 |
44652.000 |
|
|
DEFERREX TAX ASSETS |
264.400 |
0.000 |
304.100 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16664.500
|
29096.800
|
19100.500 |
|
|
Sundry Debtors |
16168.600
|
22850.300
|
10220.400 |
|
|
Cash & Bank Balances |
28106.300
|
38791.800
|
29085.900 |
|
|
Other Current Assets |
24625.300
|
0.000
|
0.000 |
|
|
Loans & Advances |
262.000
|
303.800
|
33209.200 |
|
|
Project Under Development |
45696.600
|
39947.200
|
|
|
Total
Current Assets |
131523.300
|
130989.900
|
91616.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18966.800
|
|
45543.900 |
|
|
Other Current Liabilities |
31943.300
|
39043.400
|
|
|
|
Provisions |
5556.400
|
6514.600
|
4823.100 |
|
Total
Current Liabilities |
56466.500
|
58528.900
|
50367.000 |
|
|
Net Current Assets |
75056.800
|
72461.000
|
41249.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
38.600 |
|
|
|
|
|
|
|
|
TOTAL |
323254.300 |
273326.800 |
205242.200 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
129650.400 |
100889.100 |
57687.600 |
|
|
|
Other Income |
8668.300 |
15828.700 |
3881.100 |
|
|
|
TOTAL (A) |
138318.700 |
116717.800 |
61568.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, construction, Real Estate,
Hotel and Hospitality and Power Expenses |
79663.500 |
57036.200 |
|
|
|
|
Excise duty on stocks |
259.000 |
223.400 |
|
|
|
|
Personnel |
5957.200 |
6652.900 |
40145.900 |
|
|
|
Selling and Distribution Expenses |
10706.100 |
6838.600 |
|
|
|
|
Other Expenses |
5801.900 |
6193.500 |
|
|
|
|
Increase/ Decrease in Stock and work in
progress |
(1625.600) |
831.000 |
|
|
|
|
Prior Period Adjustments |
(8.400) |
(7.000) |
|
|
|
|
TOTAL (B) |
100753.700 |
77782.600 |
40145.900 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37565.000 |
38935.200 |
21422.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13941.800 |
10557.900 |
5823.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
23623.200 |
28377.300 |
15599.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6078.100 |
4560.600 |
3089.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17545.100 |
23816.700 |
12509.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5867.300 |
6733.100 |
3539.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11677.800 |
17083.600 |
8970.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
26450.300 |
18796.800 |
15129.300 |
|
|
|
|
|
|
|
|
|
|
IMPORT |
|
|
|
|
|
|
Stores and Spare |
610.862 |
3924.363 |
NA |
|
|
|
Capital Equipment [including Capital
Work-in-Progress |
4659.481 |
3925.636 |
NA |
|
|
|
Steel Plate |
6.755 |
0.314 |
NA |
|
|
|
Raw Material |
640.775 |
251.486 |
NA |
|
|
|
Hydro Mechanical and Electromechanical
Equipment |
4192.220 |
1306.913 |
NA |
|
|
|
Other |
11.389 |
0.112 |
NA |
|
|
|
TOTAL |
10121.482 |
9408.824 |
NA |
|
|
|
EXPORT |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cement Exports [FOB Value] |
49.709 |
29.622 |
NA |
|
|
|
Hospitality |
231.242 |
208.154 |
NA |
|
|
|
Interest |
2.465 |
77.427 |
NA |
|
|
|
Other |
0.175 |
34.664 |
NA |
|
|
|
Advance received from Real Estate
Customers |
67.287 |
54.623 |
NA |
|
|
|
TOTAL
|
350.878 |
404.490 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
NA |
9564.200 |
6089.300 |
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
26450.300 |
18796.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.49 |
7.89 |
NA |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
31778.500 |
31324.100 |
|
Total Expenditure |
24050.500 |
23842.500 |
|
PBIDT (Excl OI) |
7728.000 |
7481.600 |
|
Other Income |
54.100 |
560.200 |
|
Operating Profit |
7782.100 |
8041.800 |
|
Interest |
4263.600 |
4049.000 |
|
Exceptional Items |
(1.700) |
(3.400) |
|
PBDT |
3516.800 |
3989.400 |
|
Depreciation |
1721.000 |
1761.000 |
|
Profit Before Tax |
1795.800 |
2228.400 |
|
Tax |
725.400 |
941.900 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
1070.400 |
1286.500 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
1070.400 |
1286.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.44 |
14.64
|
14.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.53 |
23.61
|
21.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.96 |
10.04
|
7.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.28
|
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.91 |
2.80
|
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32 |
2.24
|
1.82 |
LOCAL AGENCY FURTHER INFORMATION
Company History:
Subject is a diversified infrastructural industrial
conglomerate in
OPERATIONS
ENGINEERING DIVISION
Works
completed
During the year, following works have been completed:
(i) Civil and Structural works of
Clinkerisation Unit at Satna and Grinding Unit at Bhilai of Bhilai Jaypee
Cement Limited. (ii) Civil and
Hydro-mechanical works of 450MW Baglihar (Stage-I) Hydroelectric Project in
Jammu and Kashmir (iii) Construction of
Drains in Parikarma Marg area for the project water drainage for Varindavan
Town, Distt. Mathura Bids Under submission
During the year, the Company participated in the Tenders for
the following works :
(i) Civil and Hydro-mechanical works on EPC basis
of 450 MW Shongtong – Karcham Hydroelectric Project in
Himachal Pradesh;
(ii) Construction of DT, Dam, Intake, Desilting
arrangement (Contract Package C1) for Punatsangchhu-II Hydroelectric Project, Bhutan;
(iii) Construction of Headrace Tunnel (HRT) from
Adit-I and Adit-II (Contract Package C2) for Punatsangchhu-II
Hydroelectric Project, Bhutan; and
(iv) Construction of Headrace Tunnel (from Surge
Shaft end), Surge Shaft, Butterfly Valve Chamber, Pressure
Shafts, Power House and Tailrace Tunnel including
Hydro-mechanical works (Contract Package C3) for Punatsangchhu-II Hydroelectric
Project, Bhutan While the bid of the Company for 450 MW Shongtong – Karcham HEP
is under evaluation by the Client, the Company has been awarded the Works at
Sr. (ii) and (iv) above, as detailed hereinbelow.
The Company has also submitted Application for
Prequalification for Head Race Tunnel and Power House Complex (Dibang Lot:4) of
3000MW Dibang Multipurpose Project in Arunachal Pradesh and Development of Food
Parks at Bhopal/ Ratlam/ Harda in Madhya Pradesh and is expected to be
qualified for the Projects.
New Works Awarded Against the bid submitted during the year,
the Company was awarded in July, 2011, two contracts by Punatsangchhu-II
Hydroelectric Project Authority, Bhutan for construction of following
pertaining to 990 MW Punatsangchhu II Hydroelectric Project ( A joint implementation
of the Hydro Electric Project by the Royal Government of Bhutan and the
Government of India) :-
(a) Diversion Tunnel,
Dam, Intake and Desilting Arrangement including Hydro-mechanical works and
Highway Tunnel for a contract value of Rs.1224 Crores; and
(b) Head Race Tunnel
from Surge Shaft end, Surge Shaft, Butterfly Valve, Chamber, Pressure Shafts,
Power House and Tailrace Tunnel including Hydro-mechanical works for a contract
value of Rs.855 Crores.
Operational Performance
During the year the Company has successfully commissioned
its 2nd Unit at Sewagram, Gujarat (1.2MTPA) and 2nd Grinding Facilities at
Wanakbori, Gujarat (1.2MTPA).Cement Production has increased to 14.71 Million
Tonnes in 2010-11 from 10.69 Million Tonnes in 2009-10.Cement Dispatches
including Clinker Sale has also increased to 15.22 Million Tonnes in 2010-11
from 10.98 Million Tonnes in 2009-10 and to 16.16 Million Tonnes in 2010-11
from 11.22 Million Tonnes in 2009-10 after taking into account Dispatches from
M/s Bhilai Jaypee Cement Limited, a JV of Jaiprakash Associates Limited and
Steel Authority of India Limited (SAIL).
Expansion Plans The Company is expanding its Cement Production Capacity to 30.75 MTPA. An additional capacity of 4.3 MTPA is being added through Joint Ventures with Steel Authority of India Limited (SAIL) taking the Group’s total capacity to 35.05 MTPA by 2012 which shall further strengthen Jaypee Group’s position of being the 3rd largest Cement producing group in India. The implementation of the on-going Projects is progressing satisfactorily.
Greens, Greater Noida, U.P. It has emerged as a preferred
choice of upmarket business travellers. The Company has India’s first Greg
Norman Signature Golf Course at Jaypee Greens, Greater Noida. It is the finest
18 hole Championship Golf Course. In recognition of their hospitality, the Golf
Course at Jaypee Greens, Greater Noida has been conferred with the prestigious
“BEST TOURISM FRIENDLY GOLF COURSE” award by the MINISTRY OF TOURISM, Govt. of
India.In the close proximity to the Golf Course is Atlantis-The Club, an
integrated sports complex that offers World Class sporting events and
tournament facilities, rooms and conference facilities and Jaypee DelCourt,
offering hospitality with a difference, offers 27 well appointed rooms and 36
service apartments making it a viable destination for corporate
entrepreneurs, expats business and
leisure stays.
The Company’s Hotels at New Delhi, Agra and Mussoorie have
been accredited with ISO 9001 for Quality Management System (QMS), ISO 14001
for Environment Management System (EMS), ISO 22000 for Food Safety Management
System (FSMS) and Hazard Analysis and Critical Control Point (HACCP).
It is the endeavour of the Company to tirelessly strive to
maintain befitting growth rate in the hotel business and keep the staff and
executives of the hotel well motivated and enthusiastic for facing new
challenges emerging from the changing tastes of different segments of tourists
and travelers and to establish a distinct niche in the hotel industry. The
Company is confident to achieve better quotient of customers’ satisfaction and
to achieve higher growth coupled with optimization of the resource utilization.
The growth of the Tourism Industry has shown positive signs. In view of the
country’s rapid economic growth the hotel
industry is expected to remain buoyant.
HOTELS DIVISION
The Hotels Division of the Company has 5 five star luxury hotels, finest Championship Golf Course, Integrated Sports Complex and Town Centre strategically located to service the needs of discerning business and leisure travellers. In New Delhi, the Division has two hotels - Jaypee Siddharth with 94 rooms and Jaypee Vasant Continental with 119 rooms. The largest property of the Company Jaypee Palace Hotel and Convention Centre is located at Agra with an inventory of 341 rooms and Jaypee Residency Manor at Mussoorie has 90 rooms and 45 new rooms are being added to its inventory. Jaypee Greens Golf and Spa Resort, a prestigious presentation by Jaypee Hotels in the luxury segment, offers 170 state of art rooms and world renowned “Six Senses Spa” overlooking the Championship 18 hole Greg Norman Golf Course at Jaypee REAL ESTATE DIVISION
Jaypee Greens, Greater Noida Spread across 452 acres, Jaypee
Greens, Greater Noida is the maiden golf centric residential project of your
Company. The project integrates Luxury Villas and Apartments with an 18 Hole
Greg Norman Signature golf course, 9 hole chip and putt golf course, landscaped
parks and lakes along with an integrated sports complex, 60 acre Nature
Reserve, a 5 star spa resort, Town Centre etc. During the year under report,
Jaypee Greens Greater Noida has bagged several prestigious International awards
including the “Best Golf Course- India” at Asia Pacific Property Awards 2011. A
new residential development “The Castille Apartments” have also been introduced
which offers uninterrupted views of 18 hole golf course.
Jaypee Greens Wish Town Noida Second real estate project -
Jaypee Greens Noida being developed by Jaypee Group is an epitome of
extraordinary living. Spread over 1162 acres, it has been designed as a new and
exciting place to live, work and play. It offers wide range of residential
options from independent homes to high-rise apartments and penthouses, along
with host of other amenities such as numerous Graham Cooke designed golf
facilities, Super specialty medical centers, educational facilities, landscaped
parks and lakes, various recreational facilities and entertainment
centers.Within the Noida development, new residential communities – Jaypee
Greens The Orchards, Jaypee Greens Krescent Homes, Jaypee Greens Pebble Beach
Residences, have been introduced which are a combination of low, mid and high
rise residential apartments. Kingswood Oriental Villas, one of the most
luxurious offering by Jaypee Greens, also won the “Highly recommended Multiple
Units Residential PropertyAward at the Asia Pacific Property Awards 2011.
Jaypee Greens AMAN Jaypee Greens third residential project Jaypee Greens AMAN at Sector 151 is located on the fast
developing NoidaGreater Noida expressway and offers 2 and 3 BHK
apartments. Spread over 70 acres, the
project also comprises Chip and Putt
golf course, Gardens, Walkways, Fountains, Sports facilities, Social amenities like Shopping
Complex, Social Club with Swimming
pools, Gymnasiums. Primary and Senior
Secondary Schools, Crčche, Kid’s play area etc. At present phase II of
the project has been launched. The new
phase has 2/3 BHK apartments that offers beautiful views of lush green landscapes, pitch and
putt golf course and aesthetically
designed streetscapes assuring calm,
convenient and complete lifestyle. Jaypee Greens Sports City The Jaypee
Greens Sports City located on the Yamuna
Expressway, spread over 5000 acres, is the latest project launched by Jaypee Greens and comprises of
India’s first International Motor racing
track scheduled to host India’s first F1
race in October, 2011, International standard cricket stadium, a 15.7 Kms long green boulevard and
much more. The development will be
divided into various thematic districts
offering commercial, residential and institutional facilities. The Commercial zone will offer well defined areas
for elaborate financial and civic
centers, along with this Residential Districts
which will have a vast range of products including villas, town homes, residential plots and mid to high
rise apartment blocks, with regular
water supply and 24 hours electric power
supply, to suit the requirements of all. A new residential community of
high rise apartments - The Kove has been
introduced in the market. The luxurious
apartments are set amidst a healthy and pollution free neighborhood with numerous other facilities
like a pitch and putt golf course,
various themed gardens, children play areas etc. The work on all these projects
being developed and marketed by the Company is progressing satisfactorily.
DIVERSIFICATION
WIND
POWER PROJECT
The Company has been operating Wind Power Project of 49 MW
(40.25 MW in Maharashtra and 8.75 MW in Gujarat), which was fully commissioned
on 31st March, 2008. Out of the aggregate capacity of 49 MW, 16.25 MW (13
generators each of 1.25 MW) was commissioned during December 2006 to March 2007
at Dhule in Maharashtra. The remaining 32.75 MW was commissioned at Sangli,
Maharashtra (24 MW- 16 generators each of 1.5 MW) during September 2007 to
March 2008 and at Kutchh, Gujarat (8.75 MW- 7 generators each of 1.25 MW) in
March 2008. The electricity generated from the project is being sold to
Maharashtra State Electricity Distribution Company Limited (MSEDCL) in
Maharashtra and Gujarat Urja Vikas Nigam Limited (GUVNL) in Gujarat. The energy
sold and the revenue from sale of electricity during the year under report were
78.8 Mn units and Rs.298.100 millions against 86.7 Mn units and Rs.317.600
millions respectively in the year 2009-10.
DEVELOPMENT
OF COAL BLOCKS IN MADHYA PRADESH
(a) Madhya Pradesh
Jaypee Coal Limited (MPJCL) was incorporated on May 14, 2009, as a joint
venture with Madhya Pradesh State Mining Corporation Limited. (MPSMCL) for
mining and sale of Coal from Dongri Tal-II Coal Block at Singrauli in Madhya
Pradesh. MPSMCL holds 51% of the issued equity shares of MPJCL in consideration
for the mining rights granted to the Joint Venture Company and the Company
holds 49% equity in the Joint Venture Company. The JV Company is thus treated
as a Government Company within the meaning of Section 617 of the Companies Act,
1956. The progress of the Project is satisfactory.
(b) Madhya Pradesh
Jaypee Coal Fields Limited (MPJCFL) was incorporated on January 4, 2010, as a
joint venture with Madhya Pradesh State Mining Corporation Limited (MPSMCL) for
mining and sale of coal from Mandla (South) Coal Block in District Chhindwara
(M.P.). MPSMCL holds 51% of the issued
equity capital of MPJCFL in consideration for the mining rights granted to the
JVC from Mandla (South) Coal Block and JAL holds 49% of the equity capital in the
said company. The JV Company is thus treated as a Government Company within the
meaning of Section 617 of the Companies Act, 1956. The Company has received
various clearances and necessary steps are being taken to obtain the remaining
clearances including Environment Clearance.
(c) Madhya Pradesh
Jaypee Minerals Limited (MPJML) is a
joint venture of the Company with Madhya Pradesh State Mining Corporation Limited (MPSMCL)
for developing a Coal Block at Amelia
(North) in Singrauli District in the
State of Madhya Pradesh. This Company is
also treated as Government Company within the meaning of Section 617 of the
Companies Act, 1956, as MPSMCL holds 51% of the Equity of MPJML which has been
allotted to it in consideration for the mining rights granted to the company,
and balance 49% is held by the Company.
Project activities relating to Mine Development have been
completed. Various statutory approvals/ clearances including permission from
the MP Pollution Board to operate under Air Act, 1981 and Water Act, 1984,
purchase of 728.75 Ha of tenancy land from Govt. of MP for compensatory afforstation including
getting Gazette Notification issued,
approval of Eco-restoration Plan from
PCCF, Bhopal are in place. The Company is now
awaiting final clearance from the Ministry of Environment and Forest to start mining of Coal from
Amelia (North) Coal Block.
(d) The Company had been awarded rights for mining of coal in Mandla (North) Coal Block in Distt
Chhindwara (MP). Necessary steps have
been taken to obtain various clearances
including Environment Clearance Coal from this Block shall be available for
captive consumption for Cement Division
of the Company
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
ECONOMIC
OVERVIEW
According to the latest numbers made available by Central Statistical
Office (CSO), India’s GDP at factor cost at constant prices registered
an increase of 8.5 percent in the year 2010
11 This revised estimate of 8.5 percen growth for
GDP in 2010-11 only a shade below the advance estimates that had pegged GDP growth
for 2010-11 at 8.6 percent. The GDP growth range for the year 2011-12 is
expected to be 8 to 8.5 percent The inputs and projections provided by various
participating economists show that while the agriculture and allied activities
sector is projected to grow by 3.7 percent this year, industry and services
sector are poised to grow by 8 percent and percent respectively.
The key risks to growth in India in the current year are the
negative impact of continuous tightening
of monetary policy by RBI and a slowdown
in global growth due to various reasons such as high international oil
prices etc.
OPERATIONAL
PERFORMANCE
Their real estate projects are conceptualized keeping in
mind the concept of gated community with
all modern amenities essential for the
Indians looking to settle down in townships
mirroring images of developed India. They believe the
affordable pricing structure and wide
range of available layouts of individual units at their existing developments, including
620 square feet for a one-bedroom unit up to 2,300 square feet for a four
bedroom unit at Jaypee Greens Klassic,
may also appeal to a broad demographic. Furthermore, because their
developments are designed as integrated townships with a wide range of planned
educational, recreational, commercial
and retail facilities, we believe they
will appeal to diverse mix of potential residents. During the year, the
group launched prestigious residential
projects like The Castille Apartments, Jaypee Greens The Orchards, Jaypee Greens Krescent Homes,
Jaypee Greens Pebble Beach Residences, Kingswood Oriental Villas and Aman
II. It received encouraging response to these projects.
OUTLOOK
Jaiprakash Associates Limited. Has an established growth record as a leading infrastructure Company with decisive competitive advantages. We believe that the next decade in India belongs to infrastructure sector. While even the smallest constituents of infrastructure sector will immensely benefit from it, Jaiprakash Associates Limited. Shall not only benefit from the ensuing growth phase of Infrastructure but actually lead the Infrastructure development of India. Its future outlook appears bright for the following reasons:
• It is “Right Placed” in the core infrastructure sectors of cement, power, roads, and realty
• It has “Right Blend” i.e. diverse business mix leading to derisked business model
• It is “Right Scaled” as it has leadership positions in almost all of its business
domains and scaling up of capacities across
All of them. Ready and rolling capacities will help it maximize from the
growing demand
• It has the “Right Span”
from northern to southern India, western
to eastern through central India within its span of reach. It is based on the
above facts that the Company’s outlook
appears very positive and the Company shall continue growing at a rate higher than the economy and
most of the industry sub-verticals it
operates in.
OUTLOOK
Keeping in view the performance and future prospects of the
Company’s business, the expansions and diversifications being undertaken and the business of its
subsidiaries, The Company is poised for
sustained growth and the outlook is bright.
UN-AUDITED STANDALONE FINANCIAL RESULTS [ PROVISIONAL]
FOR THE QUARTER ENDED 30.09.2011
(Rs. In Millions)
|
Particulars |
Quarter Ended |
Half Year Ended |
|
30.09.2011 |
30.09.2011 |
|
|
[Unaudited] |
[Unaudited] |
|
|
|
|
|
|
(a) Net Sales / Income from operations |
30674.500 |
62097.800 |
|
(b) Other Operating Income |
649.600 |
1004.800 |
|
Total Income |
31324.100 |
63102.600 |
|
|
|
|
|
Expenditure |
|
|
|
a) (Increase) / Decrease in stock in trade and work in
progress |
690.300 |
812.100 |
|
b) Direct Construction, Manufacturing Hotel/ Hospitability
and Power Expenses |
0.000 |
0.000 |
|
c) Employees cost |
16330.800 |
33995.800 |
|
d) Depreciation |
1761.000 |
3589.700 |
|
e) Other expenditure |
4975.200 |
7337.700 |
|
Total |
25603.500 |
51474.000 |
|
|
|
|
|
Profit from operations before other income, interest and
exceptional Items |
5720.600 |
11727.600 |
|
Other income |
560.200 |
614.300 |
|
Profit before interest and exceptional Items |
6280.800 |
15823.900 |
|
Interest |
8041.800 |
8312.600 |
|
Profit
after Interest but before Exceptional Items |
4049.000 |
4029.300 |
|
Exceptional Items |
0.000 |
0.000 |
|
Profit on |
0.000 |
0.000 |
|
Provision for writing off Claims – Iraq Works |
0.000 |
0.000 |
|
Prior period Adjustment |
(3.400) |
(5.100) |
|
Profit
(+)/Loss(-) from Ordinary Activities before tax |
2228.400 |
4024.200 |
|
Tax expense |
|
|
|
a) Current Tax |
444.700 |
793.200 |
|
b) Excess Provision for Income Tax in earlier years
Reversed |
0.000 |
0.000 |
|
c) Deferred Tax |
497.200 |
874.100 |
|
Net Profit
(+)/Loss(-) from Ordinary Activities after tax |
1286.500 |
2356.900 |
|
Extraordinary
Items |
0.000 |
0.000 |
|
Employees
Compensation |
0.000 |
0.000 |
|
Net Profit (+) / Loss (-) for the year period |
1286.500 |
2356.900 |
|
Paid up equity share capital (Face value of Rs.10/- per
share) |
42529 |
45259 |
|
Reserves excluding revaluation reserves as per balance
sheet of previous accounting year |
|
|
|
Earning per share (EPS) |
|
|
|
Before extraordinary items |
|
|
|
(a) Basic
|
0.61 |
1.11 |
|
(b)
Diluted |
0.58 |
1.06 |
|
After extraordinary items |
|
|
|
(a)
Basic |
0.61 |
1.11 |
|
(b)
Diluted |
0.58 |
1.06 |
|
Public shareholding |
|
|
|
Number of
shares |
1129498318 |
1129498318 |
|
Percentage
of shareholding |
53.12% |
53.12% |
|
|
|
|
|
Promoters and Promoters group Shareholding- |
|
|
|
a) Pledged /Encumbered |
|
|
|
Number of shares |
2862500 |
2862500 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
0.29% |
0.29% |
|
Percentage of shares (as a % of total share capital of the
company) |
0.13% |
0.13% |
|
|
|
|
|
b) Non Encumbered |
|
|
|
Number of shares |
994072364 |
994072364 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
99.71% |
99.71% |
|
Percentage of shares (as a % of total share capital of the
company) |
46.75% |
46.75% |
UNAUDITED STANDALONE SEGMENT – WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER ENDED 30.09.2011
(Rs. In Millions)
|
Particulars |
Quarter Ended |
Half Year Ended |
|
30.09.2011 |
30.09.2011 |
|
|
[Unaudited] |
[Unaudited] |
|
|
|
|
|
|
Segment
Revenue |
|
|
|
a) Cement and Cement Products |
13239.200 |
28511.500 |
|
b) Construction |
15547.800 |
28296.200 |
|
C) Power |
160.900 |
280.300 |
|
d) Hotel/ Hospitability and Golf Course |
379.900 |
803.600 |
|
e) Real Estate |
2017.600 |
5486.900 |
|
f) Investments |
560.200 |
614.300 |
|
g) Others |
16.400 |
41.400 |
|
h) Unallocated |
255.000 |
430.900 |
|
Total
|
32177.000 |
64465.100 |
|
|
|
|
|
Less : Inter Segment Revenue |
292.700 |
748.200 |
|
Total
Sales /Income |
31884.300 |
63716.900 |
|
|
|
|
|
2.
Segment Results |
|
|
|
a) Cement and Cement Products |
(294.700) |
1645.200 |
|
b) Construction |
5616.100 |
8116.400 |
|
C) Power |
110.800 |
181.300 |
|
d) Hotel/ Hospitability and Golf Course |
(69.700) |
(86.500) |
|
e) Real Estate |
872.800 |
2723.800 |
|
f) Investments |
560.200 |
614.300 |
|
g) Others |
(63.1000) |
(82.400) |
|
h) Exceptional Item- Profit on sale of Share |
0.000 |
0.000 |
|
Total
|
6732.400 |
13112.100 |
|
Less:
|
|
|
|
a) Interest |
4049.000 |
8312.600 |
|
b) Exceptional Items – provision for writing off claims-
Iraq Works |
0.000 |
0.000 |
|
c) other Un- allocable Expenditure net off Un – allocable
Income |
455.000 |
775.300 |
|
|
|
|
|
Profit
before tax |
2228.400 |
4024.200 |
|
|
|
|
|
3. Capital
Employed |
|
|
|
a) Cement and Cement Products (Including capital work in Progress) |
163367.900 |
163367.900 |
|
b) Construction (Including capital work in Progress) |
32914.600 |
32914.600 |
|
C) Power (Including capital work in Progress) |
18157.100 |
18157.100 |
|
d) Hotel/ Hospitability and Golf Course (Including capital
work in Progress) |
5846.600 |
5846.600 |
|
e) Real Estate (Including capital work in Progress) |
29679.200 |
29679.200 |
|
f) Investments (Including Investment in Subsidiaries out
of which 3 are operational) |
67789.400 |
67789.400 |
|
g) Others (Including capital work in Progress) |
3152.300 |
3152.300 |
|
h) Unallocable
(Including FCCB proceeds with Banks)
|
16839.000 |
16839.000 |
|
Total |
337746.100 |
337746.100 |
Notes:
- Previous
Years (Quarter figures have been regrouped / recast wherever necessary.
- The board has
accepted the recommendations of the committee of Directors to demerge
company’s cement plants in Gujarat and Andhra Pradesh into its wholly
owned subsidiary, namely, jaypee cement corporation Limited, implementing
3 MTPA cement plant in Karnataka.
- Status of
Investors’ Grievances: Opening balance - 5, Received during the Quarter -
428. Addressed during the Quarter - 429, Balance – nil
- The above
results have been subjected to limited review by the Statutory Auditors a
terms of Clause 41 of the Listing Agreement The same were al reviewed by
the Audit Committee and then approved by the Board of Directors in their
respective meetings held on 14th May. 2011
FIXED ASSETS
· Land
· Building
· Purely
Temporary Erections
· Railway
siding
· Plant
and Machinery
· Captive
Thermal Power Plant
· Wind
Turbine generators
· Golf
Course
· Miscellaneous
Fixed Assets
· Motor
Vehicles
· Furniture
and Office Equipment
· Ships
: Boat
· Aeroplane
/ helicopter
· Technical
Books
AS PER WEB DETAILS
BUSINESS
DESCRIPTION
Subject is a diversified infrastructural industrial
conglomerate in India. JALs business includes six sectors: engineering and construction,
manufacture and marketing of cement, energy (power, transmission, oil and gas),
expressways, real estate and hospitality. JAL has executed hydropower projects
spread across 6 states and the neighboring country Bhutan, generating 10,290
megawatts power. It is the hydropower producer with its operational projects of
300 megawatts Baspa-II (Himachal Pradesh), 400 megawatts Vishnuprayag
(Uttarakhand) and 1000 megawatts Karcham Wangtoo (Himachal Pradesh). JAL
produces Portland pozzolana cement under the brand name Jaypee cement. Its
hospitality business owns and operates 6 properties spread across New Delhi,
Uttar Pradesh and Uttarakhand. JAs Jaypee Greens complex consists of an 18 hole
Greg norman golf course. On February 19, 2011, the Company acquired Jaypee
Cement Corporation Limited. for the fiscal year ended 31 March 2010, Jaiprakash
Associates Limited's revenues increased 62% to RS81.05B. Net income totaled
RS11.19B, up from RS4.2B. Revenues reflects an increase in cement sales, higher
revenue from construction segments and increased income from infrastructure
projects. Net income also reflects a decrease in loss on sale of assets and
improved operating and gross profit margins
Sarat Kumar Jain - Non-Executive Vice Chairman of the
Board - Vice-Chairman
Shri. Sarat Kumar Jain is Non-Executive Vice Chairman of the
Board of Jaiprakash Associates Limited He is a gaduate in Science. He has been
responsible for the execution of various Hydro-Power projects over last 49
years. He is Director on the Board of Jaiprakash Hydro-Power Limited, Jaypee
Ganga Infrastructure Corporation Limited, Jaypee Ventures Private Limited and
Essjay Enterprises Private Limited
Sunil Kumar Sharma - Executive Vice
Chairman of the Board - Vice-Chairman
Subhash Chandra Bhargava - Non-Executive Independent Director
- Director/Board Member
Shri. Subhash Chandra Bhargava is Non-Executive Independent
Director of Jaiprakash Associates Limited He is a Chartered Accountant by
profession. He had a career wiih LIC of India. Shri. Bhargava is Non-Executive
Chairman of L and FS Academy for Insurance and Finance Limited, IL and FS
Insurance and Risk Management Services Limited, OTC Exchange of India and OTC
Securities Limited He is Directer on the Boards of Adita Birla Nuvo Limited.
Escorts Limited, Jaiprakash Enierprises Limited, Jaiprakash Power Ventures
Limited, Jaypee Cement Limited DCM Shriram Consolidated Limited, Srei Veniures
Capital Limited, Swaraj Engine Limited, UTI AMC Private Limited Mudra
Lifestyles Limited and ALL Bank Finance Limited
Sunny Gaur - Managing Director - Cement, Executive Director -
Director/Board Member
Shri. Sunny Gaur is Managing Director - Cement, Executive
Director of Jaiprakash Associates Limited He is a graduate from Delhi University,
is presently Managing Director (Cement) of the Company and has experience of
over 20 years in various aspects of the cement business, including setting up
of cement plants, operation and maintenance of cement plants, finance, accounts
and general administration. He has been part of the senior leadership, which
faced challenges of recession and brings with him an entrepreneur approach to
various complex situations. He is Managing Director of Madhya Pradesh Jaypee
Minerals Limited, Chairman of Bhilai Jaypee Cement Limited, Bokaro Jaypee
Cement Limited and Director on the Boards of Jaypee Ganga Infrastructure
Corporation Limited, Prayagraj Power Generation Company Limited, Jaypee Agra
Vikas Limited, MP Jaypee Coal Limited, MP Jaypee Coal Fields Limited, Jaiprakash
Agri Initiatives Company Limited, Himalyaputra Aviation Limited, Jaypee
Ventures Private Limited, Jaypee Infra Ventures (A Company with Unlimited
Liabilities) and Jaypee Mining Ventures Private Limited He is also a member of
Audit Committee of Madhya Pradesh Jaypee Minerals Limited, Jaypee Ganga
Infrastructure Corporation Limited and Prayagraj Power Generation Company
Limited
Pankaj Gaur - Joint Managing Director - Construction,
Executive Director -
Director/Board Member
Shri. Pankaj Gaur is Joint Managing Director - Construction,
Executive Director of Jaiprakash Associates Limited He holds B.E
(instrumentation) has 15 years of experience. He worked at Jaypee Rewa and
Jaypee Bela Cement plants from 1993 to 1998. From 1999 to 2004, be had been
looking after the Tala Hydr&electric Project executed by the Company in
Butan. Since 2005, he is the team for development of Srisailam Project in
Andbra Pradesh. He was a Whole-time Director on the Board of erstwhile
Jaiprakash Industries Limited He is also a Director on the Boards of Jaypee
Arunachal Power Limited, Jaypee Veniures Private Limited and Pee Gee Estates
Private Limited
Basant Kumar Goswami - Non-Executive Independent Director -
Director/Board Member
Shri. Basant Kumar Goswami is Non-Executive Independent
Director of Jaiprakash Associates Limited He holds a Masters degree in English
from University of Delhi. He joined Indian Administrative Service in 1960. He
has hold prestigious positions in various Government Departments including
Chairman, Tea Board of India, Chief Secretary, Government of Jammu and Kashmir
Secretary Deptment of Civil Supplies, Secretary Tourism, Govt of India, Advisor
to Governors of UP and Jammu and Kashmir, Bosidos the above, he was Chairman of
J and K Tourism Development Corporation, Board of Governors of Institute of
Hotel Management & Catering Technology, Bombay and New Delhi and the Task
Force on Tourism instituted by Govt. of Kerala. He also served as Director on
the Boards of Indian Tourism Development Corporation, Indian Airlines, Air
India, Rajasthan Tourism Development Corporation, erstwhile Jaiprakash
Industries Limited, and erstwhile Jaypee Greens Limited. He was also Trustee of
Consumer Education and Research Centre, Ahmedabad, Mata Vaishno Dcvi Shrine
Board and Jim Corbett Foundation. Presently he is on the Boards of Taj Kerala
Hotels and Resods Limited, Guest Venture Coordinators (P) Limited, Global Trust
Capital Finance Limited, Mata Securities (P) Limited, The Great India Aviation
Securities FyI, Limited, American Hotels and Restaurants Private, Limited, L H
Sugar Factories Limited, Blue Coast Hotels and Resods Limited and Hedtage Nonib
East Private Limited
S. C. Gupta - Non-Executive Independent Director -
Director/Board Member
Shri. S. C. Gupta, B.Sc., B.Arch., PG.DIP. T and CP is
Non-Executive Independent Director of Jaiprakash Associates Limited He is a
fellow of Institute of Town Planning of India (FITPI). He is an accomplished
Planner with over 38 years of experience in the field of Urban Development
Planning. He retired as Additional Commissioner (Planning) from the Delhi
Development Authority (DDA) in 1994. He is also a Professor of Planning at the
School of Planning and Architecture, New Delhi. He is a senior advisor to the
Association of Metropolitan Development Authorities and the Delhi Urban Arts
Commission. As a consultant to the Asian Development Bank (ADB), he gave advice
to Government of Uttarakhand on projecting Disaster management needs for Urban
Development in the State. As an Independent Professional, he has undertaken a
number of consultancy projects, most prominently as Urban Planner for the
Special Economic Zone (SEZ) in Mundra, Gujarat. He is also Director on the
Board of Jaypee Infratech Limited, Jaypee Development Corporation Limited, TLC
International Limited, Preferred Card Marketing Private Limited, Goodtimes
Marketing Private Limited, TLC Relationship Management Private Limited, SLS
Software Private Limited and Sureni Holdings Private Limited He is neither a
Chairman nor a member of any of the Committees of the Board of Directors of the
Companies of which he is a Director
Rahul Kumar - Chief Financial Officer, Whole-time
Director - Director/Board Member
Shri. Rahul Kumar is Chief Financial Officer, Whole-time Director
of Jaiprakash Associates Limited, since October 31, 2010. He is a Chartered
Accountant having an experience of 12 years and is presently looking after the
marketing setup of the cement produced by the Company at Rewa and Bela. Shri.
Rahul Kumar is also a Director of Jaypee Ventures Limited
Shyam Datt Nailwal - Director - Finance, Whole-time
Director - Director/Board Member
Shri. Shyam Datt Nailwal is Director - Finance, Whole-time
Director of Jaiprakash Associates Limited He is a is a fellow member of the
Institute of Company Secretaries of India with 42 years experience in the
fields of project financing, corporate planning and secretarial work. Shri.
Nailwal is a Director on the Boards of Jaypee Arunachal Power Limited, Jaypee
Fertilizers and Industries Limited, Himalyaputra Aviation Limited, Jaypee Uttar
Bharat Vikas Private Limited and Jaypee Meghalaya Power Limited He is a member
of Finance Committee and Shareholder Investors Grievance and Share Transfer
Committee of the Board of Directors of the Company. He is also a member of
Audit Committee of Jaypee Arunachal Power Limited and Remuneration Committee of
Jaypee Fertilizers and Industries Limited
R. K. Singh - Whole-time Director - Director/Board Member
Shri. R. K. Singh is Whole-time Director of Jaiprakash
Associates Limited He is is a Science Graduate from Agra University and
Bachelor of Engineering (Hons.) in Civil Engineering from University of Roorkee
securing top position. Shri. Singh has and varied experience of over 41 years
to his credit. He had held various key positions including Member, Public
Enterprises Selection Board, Chairman, Railway Board (Ex. Officio Principal
Secretary to Government of India), Chairman, RITES Limited, IRCON International
Limited, and RAIL Vikas Nigam Limited Presently Shri. Singh is Managing
Director of Bokaro Jaypee Cement Limited, and Director on the Board of Jaypee
Agri Initiatives Company Limited He is neither a Chairman nor a member of any
of the Committees of the Board of Directors of the Companies of which he is a
Director
M. S. Srivastava - Non-Executive Director -
Director/Board Member
Shri. M. S. Srivastava is Non-Executive Director of
Jaiprakash Associates Limited He is B.Sc., B.E. and M.E. with specialisation in
Dam Design, Hydraulic and Irrigation Engineering, having 42 years of experience
in the field of Civil Engineering Construction to his credit. He is Director of
Jaiprakash Kashmir Energy Limited
Bal Krishna Taparia - Non-Executive Independent Director -
Director/Board Member
Shri. Bal Krishna Taparia is Non-Executive Independent
Director of Jaiprakash Associates Limited He holds degree in M. Com. and is a
Cetified Associate of Indian Institute of Bankers. Shri. Taparia has been a
Banker and Ex-Chairman and Managing Director of Industrial Reconstruction Bank
of India (presently known as Industrial Investment Bank of India Limited). He
is Directer on the Boards of Jaypee Hotels Limited, Jaiprakash Hydro-Power
Limited, Jaiprakash Power Ventures Limited and Jaiprakash Enterprises Limited
Sunny Gaur- Managing Director - Cement, Executive
Director - Managing Director
Shri. Sunny Gaur is Managing Director - Cement, Executive
Director of Jaiprakash Associates Limited He is a graduate from Delhi
University, is presently Managing Director (Cement) of the Company and has
experience of over 20 years in various aspects of the cement business,
including setting up of cement plants, operation and maintenance of cement
plants, finance, accounts and general administration. He has been part of the
senior leadership, which faced challenges of recession and brings with him an
entrepreneur approach to various complex situations. He is Managing Director of
Madhya Pradesh Jaypee Minerals Limited, Chairman of Bhilai Jaypee Cement
Limited, Bokaro Jaypee Cement Limited and Director on the Boards of Jaypee
Ganga Infrastructure Corporation Limited, Prayagraj Power Generation Company
Limited, Jaypee Agra Vikas Limited, MP Jaypee Coal Limited, MP Jaypee Coal
Fields Limited, Jaiprakash Agri Initiatives Company Limited, Himalyaputra
Aviation Limited, Jaypee Ventures Private Limited, Jaypee Infra Ventures (A
Company with Unlimited Liabilities) and Jaypee Mining Ventures Private Limited
He is also a member of Audit Committee of Madhya Pradesh Jaypee Minerals
Limited, Jaypee Ganga Infrastructure Corporation Limited and Prayagraj Power
Generation Company Limited
Pankaj Gaur - Joint Managing Director - Construction,
Executive - Managing Director
Shri. Pankaj Gaur is Joint Managing Director - Construction,
Executive Director of Jaiprakash Associates Limited He holds B.E
(instrumentation) has 15 years of experience. He worked at Jaypee Rewa and
Jaypee Bela Cement plants from 1993 to 1998. From 1999 to 2004, be had been
looking after the Tala Hydr and electric Project executed by the Company in
Butan. Since 2005, he is the team for development of Srisailam Project in
Andbra Pradesh. He was a Whole-time Director on the Board of erstwhile
Jaiprakash Industries Limited He is also a Director on the Boards of Jaypee
Arunachal Power Limited, Jaypee Veniures Private Limited and Pee Gee Esiates
Private Limited
Shyam Datt Nailwal - Director - Finance, Whole-time
Director - Finance Executive
Shri. Shyam Datt Nailwal is Director - Finance, Whole-time Director
of Jaiprakash Associates Limited He is a is a fellow member of the Institute of
Company Secretaries of India with 42 years experience in the fields of project
financing, corporate planning and secretarial work. Shri. Nailwal is a Director
on the Boards of Jaypee Arunachal Power Limited, Jaypee Fertilizers and
Industries Limited, Himalyaputra Aviation Limited, Jaypee Uttar Bharat Vikas
Private Limited and Jaypee Meghalaya Power Limited He is a member of Finance
Committee and Shareholder / Investors Grievance and Share Transfer Committee of
the Board of Directors of the Company. He is also a member of Audit Committee
of Jaypee Arunachal Power Limited and Remuneration Committee of Jaypee
Fertilizers and Industries Limited
PRESS
RELEASE
Accord Fintech (India)
09 December 2011
India, Dec. 09 -- Extending their previous sessions' losses
domestic markets have witnessed blood bath in early trade on concerns over
slowing industrial growth and a weakening trend in the rest of Asia amid renewed
worries about the euro zone debt crisis. The US markets suffered a sharp
decline overnight while, Asian markets were also trading with a sharp cut after
Mario Draghi, President of the European Central Bank, dashed hopes of a large
scale purchase of government bonds, as widely expected. Back home, sentiment
continued to remain bearish for second consecutive day with Nifty sliding under
the 4,900 mark. Metal, power, realty and capital goods stocks declined over 2
percent. However, IT stocks saw relative outperformance, thought the benchmark
IT index on the BSE slipped by a percentage point. Meanwhile, the auto stocks
too beaten badly in the trade as the Society of Indian Automobile Manufacturers
(SIAM) said that car sales in India will likely be almost flat this fiscal
year. Last fiscal year, car sales grew at an unprecedented 29.5 percent and
SIAM initially pegged sales growth this fiscal year, which ends in March, at
16-18 percent. The broader indices too were struggling to get some traction and
were trading in the red at this point of time while, the market breadth has
made a subdued start; there were 385 shares on the gaining side against 1,070
shares on the losing side while 32 shares remained unchanged. The BSE Sensex
opened at 16,258.44; about 230 points lower compared to its previous closing of
16,488.24, and has touched a low of 16,153.97 while high remained its opening.
The index is currently trading at 16,200.23, down by 288.01 points or 1.75%.
All the 30 stocks were declining on the index. The overall market breadth has
made a somber start with 25.89% stocks advancing against 71.96% declines. The
broader indices too were bleeding badly; the BSE Mid cap and Small cap indices
were down by 1.03% and 0.95% respectively. Realty down by 2.50%, Metal down by
2.15%, Auto down by 2.12%, CG down by 2.08% and Bankex down by 1.94%, were the
top losers on the index. While, there were no gainer on the index. BHEL down by
3.27%, Jaiprakash Associates down by 3.16%, Tata Motors down by 3.02%, Sterlite
Industries down by 2.96% and DLF down by 2.69% were the top losers on the
index. While, there was no gainer in the Sensex. Meanwhile, at a time when
domestic investors are applying the brakes on power sector funding, foreign
direct investment (FDI) inflows into the sector could actually be headed for a
new record this fiscal. The Cabinet Committee on Economic Affairs (CCEA) has
approved the proposals of two power entities for getting in FDI worth Rs
6,5000.000 millions. The government gave the green signal to Grid Equipment for
bringing in FDI to the tune of Rs 4,5000.000 millions. Further, Energy Grid
Automation Transformers and Switchgears India's proposal for Rs 2,0000.000
millions FDI too has been approved. These proposals are for 'downstream
investment' and transfer of entire equity shares of Grid Equipment and Energy
Grid from Areva T and D India and other resident shareholders. Equity shares of
the two entities - Grid Equipment and Energy Grid - would be transferred to
'Alstom Grid Finance and other foreign collaborators and their nominees.'
Alstom, India is mainly into power generation equipment while Areva T&D
India is a leading transmission and distribution player. The global business of
Areva T&D were acquired by consortium of Alstom and Schneider Electric in
June 2010.The S&P CNX Nifty opened at 4,870.75; about 73 points lower
compared to its previous closing of 4,943.65, and has touched a high and a low
of 4,872.70 and 4,843.40 respectively. The index is currently trading at
4,855.60, down by 88.05 points or 1.78%. There were just 3 stocks advancing
against 47 declines on the index. The gainers of the Nifty were BPCL up by
1.03%, Dr Reddy up by 0.89% and Cairn up by 0.23% remained the only gainers.
While, Tata Motors down by 3.02%, Sterlite Industries down by 2.96%, SAIL down
by 2.91%, Jaiprakash Associates down by 2.86% and BHEL was down by 2.84%, were
the major losers on the index.All the Asian markets were trading in the red;
Shanghai Composite was down 14.58 points or 0.63% to 2,315.24, Hang Seng was down
501.89 points or 2.63% to 18,605.92, Jakarta Composite was down 37.10 points or
0.98% to 3,744.66, KLSE Composite was down 14.74 points or 1.00% to 1,458.18,
Nikkei 225 was down 132.76 points or 1.53% to 8,531.82, Straits Times was down
33.99 points or 1.25% to 2,694.32, Seoul Composite was down 36.69 points or
1.92% to 1,875.70 and Taiwan Weighted was down by 109.51 points or 1.57% to
6,873.39. Published by HT Syndication with permission from Accord Fintech. For
any query with respect to this article or any other content requirement, please
contact Editor at
Accord Fintech (India)
09 December 2011
India, Dec. 09 -- Indian stock markets witnessed yet another
session of mayhem on the last trading day of the week as the benchmark indices
got butchered by over one and half a percentage points on a day when all the
European counterparts exhibited optimistic trends. The benchmark indices showed
some signs of recovery in mid-noon trading session butďż˝ the hefty across the
board selling in dying moments dragged them around the important psychological
4,850 (Nifty) and 16,200 (Sensex) bastions. Investors globally remained worried
after reports of disagreement at the European Union summit as it failed to give
any indications to prop up the morale of markets across the globe. The European
Central Bank slashed interest rates for the second time in a little more than a
month, signaling that it wants to help slowing economies but poured cold water
on hopes that it would step up bond purchase. The ECB's move to bolster the
region's economy was also overshadowed as leaders were still deeply divided
over key elements of their crisis strategy. The gloomy leads from Europe even
led the investors to overlook encouraging US employment data which indicated
that US jobless claims fell by 23,000 to 381,000 last week. On the domestic
front, Union Finance Minister said that India's fiscal targets would be a
challenge in a slowing domestic economy and uncertain global environment and he
also went ahead to revise the GDP forecast downwards around 7.5% for the fiscal
year ending March 2012, sharply lower than the original estimate of 9%.
Meanwhile, investors also overlooked the reports that despite the ongoing debt
crisis in Euro-zone and economic slowdown in US, India's exports surged to
$22.3 billion in November while import in November 2011 stood at $35.9
billion,ďż˝ narrowing trade deficit to $13.6 billion compared to $19.6 billion
in last month. Also, domestic car sales registered a growth of 7% in November,
after seeing negative sales growth for four consecutive months, but worries
persisted that the automakers will miss out even on the modest growth forecast
of 2-4% this fiscal. Earlier on Dalal Street, the benchmark got off to a
gap-down beginning tracking the somberness prevailing in Asian markets as
investors chose to take profits off the table amid discouraging developments
from the European front. After trading on a weak note in early trades, the
indices showed some signs of recovery but it was short lived as hefty position squaring
battered the key gauges to their lowest levels in early afternoon session.
However, optimistic European market opening spurred some optimism in local
bourses as investors started to cover the short positions to take the indices
to intraday highs in mid noon trades. But bears had the last say as they
stalled the resurgence of the benchmarks amid volatile trades, leading the
indices to close around the day's lows. Eventually, the NSE's 50-share broadly
followed index - Nifty, suffered large cuts of over one and half a percent,
while Bombay Stock Exchange's Sensitive Index -Sensex- got pulverized by over
two hundred fifty points. Moreover, the broader markets too settled on a
pessimistic note with cuts of under a percent but outperformed their larger peers.
On the BSE sectoral space, the Capital Goods counter continued to bear the
maximum brunt and nosedived by around two and half a percent, being the top
laggard in the space followed by the rate sesnsitive Auto pocket that sank over
two percent. The markets advanced on larger volumes of over Rs 1.53 lakh crore
while the turnover for NSE F and O segment too remained on the higher side as
compared to Thursday at over 0.139 millions crore. The market breadth remained
pessimistic as there were 1040 shares on the gaining side against 1648 shares
on the losing side while 160 shares remained unchanged. Finally, the BSE Sensex
plummeted by 274.78 points or 1.67% to settle at 16,213.46, while the S&P
CNX Nifty shaved off 76.95 points or 1.56% to close at 4,866.70.The BSE Sensex
touched a high and a low of 16,382.57 and 16,142.32 respectively. The BSE Mid
cap and Small cap index were down by 0.86% and 0.89% respectively. The top
gainers on the Sensex were coal India up 1.10%, Maruti Suzuki up 1.08%,
Hindalco Industries up 1.00%, Jindal Steel up 0.62% and NTPC up 0.39%. While,
Jaiprakash Associates down 4.67%, M andM down 3.62%, BHEL down 3.45%, Bajaj
Auto down 3.36% and Sterlite Industries down 3.20% were the top losers on the
index. The top losers on the BSE sectoral space were, Capital Goods (CG) down
2.58%, Auto down 2.26%, Oil and Gas down 2.04%, Power down 1.80% and Realty
down 1.31%, while there was no gainer on the BSE sectoral space. Meanwhile,
after reporting negative sales number for four consecutive months, domestic car
sales posted a growth of 7% in November 2011. According to the data by Society
of Indian Automobile Manufacturers (SIAM), car makers sold around 1, 71,131
units during last month compared to 1, 59,939 units in November 2010. However,
according to SAIM this increase in growth in car sales is because of lower base
for November 2010 and increase in demand.ďż˝ "The growth in November is
still not enough to revive the industry. We don't expect to meet our forecast
of 2% to 4% growth in car sales for this fiscal and we may revise the forecast
in January," Sugato Sen, senior director at SIAM, said. Earlier in
October, the SAIM has downgraded its growth outlook for car sales to 2%-4% from
its earlier projection of 10%-12% in July and 16%-18% in April. This downgrade
in projects shows the sector is under pressure due to the surge in fuel prices
and high interest rates. According to SAIM data, in November 2011 overall
domestic sale of vehicles saw growth of 22.22% as compared to November 2010 and
during April-November 2011, the overall domestic car sales grew by 13.08%.
Segment wise, the Passenger Vehicle segment in month of November grew by 8.30%
as compared to November 2010. Despite the slowdown in economic activities the
Commercial Vehicles segment saw growth of 34.99%. In November 2011, the Three
Wheelers and Two Wheelers sales grew by 5.85% and 25.27% respectively. The
overall Commercial Vehicles segment registered growth of 19.95% during
April-November 2011 as compared to the same period last year. While Medium
& Heavy Commercial Vehicles (M and HCVs) registered growth of 9.39%, Light
Commercial Vehicles grew at 29.26%. Three Wheelers sales recorded marginal
growth of 0.37% in April-November 2011. While Passenger Carriers registered
decline by -2.95% during April-November 2011, Goods Carriers registered growth
of 15.34%. Two Wheelers registered a growth of 16.11% during April-November
2011. Mopeds, Motorcycles and Scooters grew by 10.99%, 14.87% and 23.40%
respectively. In November 2011, the overall automobile exports grew by 38.17%.
During April-November 2011, overall automobile exports registered a growth rate
of 30.68%. Passenger Vehicles registered growth at 21.15% in this period. Two
Wheelers, Commercial Vehicles and Three Wheelers segments recorded growth of
31.09%, 25.95% and 44.21% respectively during the said period. The S&P CNX
Nifty touched a high and low of 4,918.35 and 4,841.75 respectively. The top
gainers on the Nifty were Reliance Power up 1.26%, Hindalco up 1.23%, Kotak
Bank up 1.22%, Dr Reddy up 1.09% and Jindal Steel up 0.94%. On the flip side,
SAIL down 5.65%, JP Associates down 4.89%, Siemens down 4.18%, M and M down
3.80% and Tata Power down 3.77% were the top losers on the index. The European
markets were trading in green. France's CAC 40 gained 0.99%, Britain's FTSE 100
up by 0.01% and Germany's DAX up by 0.27%.Sentiments remained bearish in Asian
region and all the regional indices butchered on fears that Europe's leaders
will not agree a deal to tackle their debt crisis as the first day of a crucial
summit broke up with plans for a full treaty change in tatters. With the mood
already soured by the European Central Bank (ECB) saying it would not
indefinitely buy the bonds of debt-wracked countries, news of the split within
the 27-nation bloc left investors' nerves on edge. Chinese benchmark declined
over half a percent after country's lower-than-expected inflation data failed
to provide much of a sentiment boost around the region, despite hopes for
further policy loosening, as it also spurred concerns over growth in the
world's second-largest economy. China's consumer price index for November was
up 4.2% on-year, compared with expectations for 4.4% and October's 5.5%. While,
Nikkei fell about one and a half percent on Friday and tested key support at
its 25-day moving average after steps by the European Central Bank to help
Europe. Asian Indices Last Trade Change in Points Change in % Shanghai
Composite 2,315.27 -14.55 -0.62 Hang Seng 18,586.23 -521.58 -2.73 Jakarta
Composite 3,759.61 -22.15 -0.59 KLSE Composite 1,460.13 -12.79 -0.87 Nikkei 225
8,536.46 -128.12 -1.48 Straits Times 2,694.60 -33.71 -1.24 Seoul Composite
1,874.75 -37.64 -1.97 Taiwan Weighted 6,893.30 -89.60 -1.28 Published by HT
Syndication with permission from Accord Fintech. For any query with respect to
this article or any other content requirement, please contact Editor at
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 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. 54.87 |
|
|
1 |
Rs. 86.46 |
|
Euro |
1 |
Rs. 69.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.