MIRA INFORM REPORT
|
Report Date : |
25.05.2012 |
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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|
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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 |
|
|
|
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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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|
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Line of Business : |
Manufacturing,
Importing and Exporting of Portland Cement and Clinker Cement. |
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|
|
|
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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|
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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 |
|
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, |
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Factory 1 : |
Bela, Sadva Khurd, District |
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Factory 2 : |
Naubastae, Tanda, District Faizabad, |
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Factory 3: |
45/21 Muir Road, Allahabad – 211002, Uttar Pradesh, India |
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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|
Name : |
Mr. Manoj Gaur |
|
Designation : |
Executive Chairman
and Chief Executive Officer |
|
|
|
|
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 |
|
|
|
|
Name : |
Mr. Prabodh
Varaglal Vora |
|
Designation : |
Director |
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|
|
Name : |
Mr. D. N. Davar |
|
Designation : |
Director |
|
|
|
|
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 31.03.2012
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
71298933 |
3.35 |
|
|
733492146 |
34.49 |
|
|
|
|
|
|
189316882 |
8.90 |
|
|
|
|
|
|
|
|
|
|
117760 |
0.01 |
|
|
|
|
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
171046660 |
8.04 |
|
|
9247635 |
0.43 |
|
|
111550297 |
5.25 |
|
|
419594241 |
19.73 |
|
|
|
|
|
|
|
|
|
|
117450471 |
5.52 |
|
|
|
|
|
|
245490453 |
11.54 |
|
|
22033106 |
1.04 |
|
|
|
|
|
|
12787622 |
0.60 |
|
|
9719861 |
0.46 |
|
|
3405200 |
0.16 |
|
|
2372386 |
0.11 |
|
|
7509529 |
0.35 |
|
|
|
|
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
-- |
-- |
|
|
-- |
-- |
|
|
|
|
|
Total |
2126433182 |
100.00 |
(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 |
31.12.2011 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
31778.500 |
31324.100 |
33053.900 |
|
Total Expenditure |
24050.500 |
23842.500 |
24894.300 |
|
PBIDT (Excl OI) |
7728.000 |
7481.600 |
8159.600 |
|
Other Income |
54.100 |
560.200 |
1204.700 |
|
Operating Profit |
7782.100 |
8041.800 |
9364.300 |
|
Interest |
4263.600 |
4049.000 |
4485.00 |
|
Exceptional Items |
(1.700) |
(3.400) |
15.700 |
|
PBDT |
3516.800 |
3989.400 |
4895.000 |
|
Depreciation |
1721.000 |
1761.000 |
2021.800 |
|
Profit Before Tax |
1795.800 |
2228.400 |
2873.200 |
|
Tax |
725.400 |
941.900 |
823.700 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1070.400 |
1286.500 |
2049.500 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1070.400 |
1286.500 |
2049.500 |
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
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
-- |
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 |
Nine Months Ended |
|
31.12.2011 |
31.12.2011 |
|
|
[Unaudited] |
[Unaudited] |
|
|
|
|
|
|
(a) Net Sales / Income from operations |
32579.300 |
94677.100 |
|
(b) Other Operating Income |
474.600 |
1479.400 |
|
Total Income |
33053.900 |
96156.500 |
|
|
|
|
|
Expenditure |
|
|
|
a) (Increase) / Decrease in stock in trade and work in
progress |
(2843.200) |
(2031.100) |
|
b) Direct Construction, Manufacturing Hotel/ Hospitability
and Power Expenses |
20170.700 |
54166.500 |
|
c) Employees cost |
1924.900 |
5514.600 |
|
d) Depreciation |
2021.800 |
5503.800 |
|
e) Other expenditure |
5641.900 |
15137.300 |
|
Total |
26916.100 |
78291.100 |
|
|
|
|
|
Profit from operations before other income, interest and
exceptional Items |
6137.800 |
17665.400 |
|
Other income |
1204.700 |
1819.000 |
|
Profit before interest and exceptional Items |
7342.500 |
19684.400 |
|
EBIDTA |
9364.300 |
25188.200 |
|
Interest |
4485.000 |
12797.600 |
|
Profit
after Interest but before Exceptional Items |
2857.500 |
6886.800 |
|
Exceptional Items |
0.000 |
0.000 |
|
Prior period Adjustment |
15.700 |
10.800 |
|
Profit
(+)/Loss(-) from Ordinary Activities before tax |
2873.200 |
6897.400 |
|
Tax expense |
|
|
|
a) Current Tax |
343.900 |
11371 |
|
b) Excess Provision for Income Tax in earlier years Reversed |
0.000 |
0.000 |
|
c) Deferred Tax |
479.800 |
1353.900 |
|
Net
Profit (+)/Loss(-) from Ordinary Activities after tax |
2049.500 |
4406.400 |
|
Paid up equity share capital (Face value of Rs.2/- per
share) |
42509 |
42529 |
|
Reserves excluding revaluation reserves as per balance
sheet of previous accounting year |
|
|
|
Earning per share (EPS) |
|
|
|
Before extraordinary items |
|
|
|
(a)
Basic |
0.96 |
2.07 |
|
(b)
Diluted |
0.93 |
1.99 |
|
After extraordinary items |
|
|
|
(a)
Basic |
0.96 |
2.07 |
|
(b)
Diluted |
0.93 |
1.99 |
|
Public shareholding |
|
|
|
Number of
shares |
1130540479 |
1130640479 |
|
Percentage
of shareholding |
53.17% |
53.17% |
|
|
|
|
|
Promoters and Promoters group Shareholding- |
|
|
|
a) Pledged /Encumbered |
|
|
|
Number of shares |
3442500 |
3442500 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
0.35% |
0.35% |
|
Percentage of shares (as a % of total share capital of the
company) |
0.16% |
0.16% |
|
|
|
|
|
b) Non Encumbered |
|
|
|
Number of shares |
992350203 |
992350203 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
99.65% |
99.65% |
|
Percentage of shares (as a % of total share capital of the
company) |
46.67% |
46.67% |
UNAUDITED STANDALONE SEGMENT – WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER ENDED 30.09.2011
(Rs. In Millions)
|
Particulars |
Quarter Ended |
Nine Months Ended |
|
31.12.2011 |
31.12.2011 |
|
|
[Unaudited] |
[Unaudited] |
|
|
|
|
|
|
Segment
Revenue |
|
|
|
a) Cement and Cement Products |
16972.800 |
45484.300 |
|
b) Construction |
12420.500 |
40716.700 |
|
C) Power |
32.500 |
312.800 |
|
d) Hotel/ Hospitability and Golf Course |
604.100 |
1407.700 |
|
e) Real Estate |
3078.900 |
8565.800 |
|
f) Investments |
1204.700 |
1819.000 |
|
g) Others |
82.400 |
123.800 |
|
h) Unallocated |
155.600 |
586.500 |
|
Total
|
34551.500 |
99016.600 |
|
|
|
|
|
Less : Inter Segment Revenue |
292.900 |
1041.100 |
|
Total
Sales /Income |
34258.600 |
97975.500 |
|
|
|
|
|
2.
Segment Results |
|
|
|
a) Cement and Cement Products |
1697.900 |
3343.100 |
|
b) Construction |
3707.500 |
11823.900 |
|
C) Power |
(17.400) |
163.900 |
|
d) Hotel/ Hospitability and Golf Course |
92.300 |
5.800 |
|
e) Real Estate |
1475.800 |
4199.600 |
|
f) Investments |
1204.700 |
1819.000 |
|
g) Others |
(0.400) |
(82.800) |
|
h) Exceptional Item- Profit on sale of Share |
0.000 |
0.000 |
|
Total
|
8160.400 |
21272.500 |
|
Less:
|
|
|
|
a) Interest |
4485.000 |
12797.600 |
|
b) other Un- allocable Expenditure net off Un – allocable
Income |
0.000 |
1577.500 |
|
|
|
|
|
Profit
before tax |
2873.200 |
6897.400 |
|
|
|
|
|
3.
Capital Employed |
|
|
|
a) Cement and Cement Products (Including capital work in Progress) |
172190.600 |
172190.600 |
|
b) Construction (Including capital work in Progress) |
38764.200 |
38764.200 |
|
C) Power (Including capital work in Progress) |
19409.300 |
19409.300 |
|
d) Hotel/ Hospitability and Golf Course (Including capital
work in Progress) |
5978.600 |
5978.600 |
|
e) Real Estate (Including capital work in Progress) |
33094.000 |
33094.000 |
|
f) Investments (Including Investment in Subsidiaries out
of which 3 are operational) |
70419.700 |
70419.700 |
|
g) Others (Including capital work in Progress) |
3355.200 |
3355.200 |
|
h) Unallocable
(Including FCCB proceeds with Banks)
|
14053.600 |
14053.600 |
|
Total |
357265.200 |
357265.200 |
Notes:
1. Previous Year's I Quarter figures have been regrouped /
rearranged / recast wherever necessary.
2. The EBTDTA for the quarter is higher by Rs.860.900 Millions (increase
of approx. 10%) over the corresponding quarter of previous year. However, due
to higher incidence of interest and depreciation (Rs. 1583.300 Millions), the
PBT and PAT are lower as compared to the corresponding quarter of previous
year. Nevertheless, the results for the quarter are belter when compared with
the preceding quarter.
3. Out of the total holding of 189,316,882 Equity Shares held by the four Trusts, of
which the Company is the sole beneficiary. 158,409,012 Shares have also been
pledged for securing loans obtained by the Company Shares in respect of which
Non Disposable Undertaking (NDU) has been issued are not included in
'Encumbered Shares'. Out of the total holding of 717,656,303 Equity Shares held
by Jaypee Infra Ventures (A Private Company with Unlimited Liability), a
Promoter Company. 12,779,735 Shares are under NDU.
4. Status of Investors' Grievances : Opening balance - Nil. Received
during the Quarter - 240. Addressed during the Quarter - 233, Balance - 7
(since resolved).
5. The above results have been subjected lo limited review by the
Statutory Auditors in learns of Clause 41 of the Listing Agreement. The same
were also reviewed by the Audit Committee and then approved by the Board of
Directors in their respective meetings held on 14th February. 2012.
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
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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.56.28 |
|
|
1 |
Rs.88.25 |
|
Euro |
1 |
Rs.70.81 |
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.