MIRA
INFORM REPORT
|
Report Date : |
07.11.2012 |
- Summary Information
|
|
|
Country |
|
|
Company Name |
RELIANCE INFRASTRUCTURE LIMITED |
Principal Name 1 |
Mr. Anil D. Ambani |
|
Status |
Good |
Principal Name 2 |
Mr. Satish Seth |
|
|
|
Registration # |
11-001530 |
|
Street Address |
H Block, 1st
Floor, |
||
|
Established Date |
01.10.1929 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Distribution of Power
Generation |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Power Contracting |
|
|
# of employees |
1600(Approximately) |
Product Name 2 |
Computer Services |
|
Paid up capital |
Rs.2,630,300,000/- |
Product Name 3 |
-- |
|
Shareholders |
Promoter
and Promoter Group (48.78%) Public
Shareholding (51.22%) |
Banking |
Canara Bank |
|
Public Limited Corp. |
YES |
Business Period |
83 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
A (68) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
|
Reliance
Power Transmission Limited |
-- |
|
Note |
- |
||
- Summary Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
225,312,500,000 |
Current Liabilities |
146,341,900,000 |
|
Inventories |
3,094,000,000 |
Long-term Liabilities |
91,477,300,000 |
|
Fixed Assets |
70,719,700,000 |
Other Liabilities |
10,567,900,000 |
|
Deferred Assets |
0,0000 |
Total Liabilities |
248,387,100,000 |
|
Invest& other Assets |
134,669,700,000 |
Retained Earnings |
182,778,500,000 |
|
|
|
Net Worth |
185,408,800,000 |
|
Total Assets |
433,795,900,000 |
Total Liab. & Equity |
433,795,900,000 |
|
Total Assets (Previous Year) |
355,333,200,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
179,066,700,000 |
Net Profit |
20,002,600,000 |
|
Sales(Previous yr) |
58,062,100,000 |
Net Profit(Prev.yr) |
10,809,100,000 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE INFRASTRUCTURE LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, Dhirubhai Ambani, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.10.1929 |
|
|
|
|
Com. Reg. No.: |
11-001530 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 2630.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1929PLC001530 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR16295G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2273R |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Distribution of Power Generation of Power Contracting and Computer
Services. |
|
|
|
|
No. of
Employees: |
1600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 7470000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is one of the main companies of the Reliance Group. It is an old,
well established and reputed company having good track. The financial position of the company is strong and healthy. Directors
are reported to be well – experienced, knowledgeable businessmen. It has achieve healthy growth in its income from operations and profit
during 2012. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- (Long Term Rating) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
28.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 +(Short Term Debt) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
28.09.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani, Knowledge City, Navi
Mumbai – 400710, Maharashtra , India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
|
|
Tel. No.: |
91-22-30099999/
26639999 |
|
Fax No.: |
91-22-30099763/
26639741 |
|
|
|
|
Power Stations
: |
Dahanu
Power Station BSES Nagar, Opposite
Sancoale, Industrial Estate, Zuarinagar- 403 726, Sancoale Mormugao Goa, Samalkot Power Station Industrial
Development Area, Peddapuram Mandal, Samalkot- 533 440 Andhra Pradesh, Wind Farm Near Almangala-
577 558, Chitradurga, District |
DIRECTORS
|
Name : |
Anil Dhirubhai Ambani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Sateesh Seth |
|
Designation : |
Vice Chairman |
|
|
|
|
Name : |
Dr V K Chaturvedi |
|
Designation : |
Director |
|
|
|
|
Name : |
R R Rai |
|
Designation : |
Director |
|
|
|
|
Name : |
S |
|
Designation : |
Director |
|
|
|
|
Name : |
C P Jain |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Shri Lalit Jalan |
|
Designation : |
Chief Executive Officer |
|
Name : |
Mr. Ramesh Shenoy |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
663378 |
0.25 |
|
|
126963612 |
48.53 |
|
|
127626990 |
48.78 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
127626990 |
48.78 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
7470547 |
2.86 |
|
|
1527374 |
0.58 |
|
Central Government / State
Governments |
76878 |
0.03 |
|
|
46308615 |
17.70 |
|
|
40676918 |
15.55 |
|
|
96060332 |
36.72 |
|
|
|
|
|
|
7604815 |
2.91 |
|
|
|
|
|
|
27427336 |
10.48 |
|
|
1406437 |
0.54 |
|
|
1508856 |
0.58 |
|
|
1508856 |
0.58 |
|
|
37947444 |
14.50 |
|
Total Public shareholding (B) |
134007776 |
51.22 |
|
Total (A)+(B) |
261634766 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
|
|
|
Public |
1355234 |
-- |
|
Total (A)+(B)+(C) |
26299000 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up toBUSINESS DETAILS
|
Line of Business : |
Distribution of Power Generation of Power Contracting and Computer
Services. |
|
|
|
GENERAL INFORMATION
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
1600 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
LONG TERM BORROWINGS Security: Non Convertible Debentures referred above to the extent of: a) Rs. 6250.000 Millions are secured by way of first charge, ranking
pari-passu with the charges created in favour of the Company’s existing and
proposed Lenders on Company’s fixed assets, both present and future, located
at its plants situated at Goa and Samalkot and specific premises at b) Rs. 8500.000 Millions are secured by way of first charge, ranking
pari-passu with the charges created in favour of the Company’s existing and
proposed Lenders on Company’s certain fixed assets, both present and future,
located at its plant situated at Dahanu and on Company’s specific premises in
Mumbai. c) Rs. 10000.000 Millions are secured by way of first charge, ranking
pari-passu with the charges created in favour of the Company’s existing and
proposed Lenders on specific land and buildings and fixed assets of Mumbai
Distribution division of the Company. The term loans of Rs. 9500.000 Millions are secured as under: a) Rs. 3500.000 Millions from Central Bank of b) Rs. 3000.000 Millions from Central Bank of c) Rs. 3000.000 Millions from South Indian Bank is secured by way of
pari-passu charge on certain fixed assets of Mumbai Transmission Business. Maturity Profile and rate of interest of Non Convertible Debentures
(NCD) & External Commercial Borrowings (ECB) are as under: Rs.
in Millions
SHORT TERM BORROWINGS Security: Working Capital loans are secured by
way of first charge on hypothecated stock, book debts and other current
assets of the Company and Buyers’ Credit is secured by way of pari-passu charge
over stock and book-debts.
Security: (a) Non Convertible
Debentures are secured by way of a first charge, ranking par passu with the
charges created in favour of the Company’s existing and proposed Lenders on Company’s
fixed assets, both present and future, located at its plants at Dahanu,
Samalkot and Goa and specific premises at Hyderabad and Mumbai (b) Working
capital loans are secured by way of first charge on hypothecated stock, book debts and
other current assets of the Company and Buyers’ Credit is secured by way of pari-passu charge over
stock and book-debts. * Repayable within next 12 months Rs.17164.500 Millions
(Rs.3500.000 Millions) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
|
|
|
Auditors 2 : |
Pathak H D and Associates Chartered Accountants |
|
|
|
|
Subsidiaries (including step down subsidiaries) : |
·
Reliance Power Transmission Limited (RPTL) ·
Western Region Transmission ( ·
Western Region Transmission ( ·
Talcher – II Transmission Company Limited (TTCL) w.e.f. April 27, 2010 ·
North Karanpura Transmission Company Limited (NKTCL) w.e.f. May 20,
2010 ·
Reliance Infraventures Limited (RInvL) ·
BSES Kerala Power Limited (BKPL) ·
Noida Global SEZ Private Limited (NGSPL) ·
Reliance Energy Trading Limited (RETL) ·
Mumbai Metro One Private Limited (MMOPL) ·
Parbati Koldam Transmission Company Limited (PKTCL) ·
Delhi Airport Metro Express Private Limited (DAMEPL) ·
CBD Tower Private Limited (CBDTPL) ·
Tulip Realtech Private Limited (TRPL) ·
Reliance Energy Generation Limited (REGL) ·
Reliance Energy Limited (REL) ·
Reliance Property Developers Limited (RPDL) ·
Reliance ·
DS Toll Road Limited (DSTL) ·
NK Toll Road Limited (NKTL) ·
SU Toll Road Private Limited (SUTL) ·
TD Toll Road Private Limited (TDTL) ·
TK Toll Road Private Limited (TKTL) ·
GF Toll Road Private Limited (GFTL) ·
KM Toll Road Private Limited (KMTL) ·
PS Toll Road Private Limited (PSTL) ·
HK Toll Road Private Limited ( HKTL) w.e.f. May 19, 2010 ·
DA Toll Road Private Limited (DATL) w.e.f. May 26, 2010 ·
Reliance Cementation Private Limited (RCPL) ·
Reliance Cement and Infra Private Limited (RCIPL) ·
Reliance Cement Corporation Private Limited (RCCPL) ·
Reliance Cement Works Private Limited (RCWPL) ·
Utility Infrastructure and Works Private Limited (UIWPL) w.e.f.
December 28, 2010 ·
Reliance Concrete Private Limited ( RCoPL) (erstwhile Reliance Cement
Private Limited) w.e.f. March 18, 2011 ·
Reliance Airport Developers Private Limited (RADPL) ·
Latur Airport Private Limited (LAPL) ·
Baramati Airport Private Limited (BAPL) ·
Nanded Airport Private Limited (NAPL) ·
Yavatmal Airport Private Limited (YAPL) ·
Osmanabad Airport Private Limited (OAPL) ·
Reliance Infrastructure Engineers Private Limited (RIEPL) w.e.f. March
25, 2011 ·
Reliance Sealink One Private Limited ( RSOPL) w.e.f. May 26, 2010 |
|
|
|
|
Associates (including subsidiaries of associates) : |
·
Reliance Infrastructure Engineers Private Limited (RIEPL) upto March
19,2012 ·
Reliance Infrastructure and Consultants Limited (RICL) ·
Reliance Power Limited (RePL) ·
Urthing Sobla Hydro Power Private Limited (USHPPL) ·
Rosa Power Supply Company Limited (ROSA) ·
Sasan Power Limited (SPL) ·
Vidarbha Industries Power Limited (VIPL) ·
Chitrangi Power Private Limited (CPPL) ·
Tato Hydro Power Private Limited (THPPL) ·
Siyom Hydro Power Private Limited (SHPPL) ·
Jharkhand Integrated Power Limited (JIPL) ·
Coastal Andhra Power Limited (CAPL) ·
Reliance Coal Resources Private Limited (RCRPL) ·
Samalkot Power Limited (SaPoL) w.e.f. July 29, 2010 ·
JR Toll Road Private Limited ( JRTL) ·
Mumbai Metro Transport Private Limited (MMTPL) ·
Metro One Operation Private Limited(MOOPL) |
|
|
|
|
Joint Ventures : |
·
BSES Rajdhani Power Limited (BRPL) ·
BSES Yamuna Power Limited (BYPL) ·
Tamilnadu Industries Captive Power Company Limited (TICAPCO) ·
Utility Powertech Limited (UPL) |
|
|
|
|
Investing Party : |
·
AAA Project Ventures Private Limited (AAAPVPL |
|
|
|
|
Enterprises over which person has significant influence : |
·
Reliance Natural Resources Limited (RNRL) upto October 14, 2010 ·
Reliance Communications Limited (RComm) ·
Reliance Innoventures Private Limited(REIL) ·
Reliance Webstores Limited (RWeb) ·
Reliance General Insurance Company Limited (RGI) ·
Reliance Capital Limited (RCap) ·
Reliance Infratel Limited (RInfTL) ·
Reliance Infocomm Infrastructure Private Limited (RIIPL) ·
Reliance Big Entertainment Private Limited (RBig) |
CAPITAL STRUCTURE
AS ON.31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs.3500.000 Millions |
|
80,00,000 |
Equity Shares
differential rights |
Rs.10/- each |
Rs. 80.000 Millions |
|
155,00,00,000 |
Redeemable
Preference |
Rs.10/- each |
Rs. 15500.000 Millions |
|
4,20,00,000 |
Unclassified
Equity Shares |
Rs.10/- each |
Rs.420.000 Millions |
|
|
Total |
|
Rs.19500.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26,98,22,327 |
Equity Shares |
Rs.10/- each |
Rs.2698.300
Millions |
|
44,30,262 |
Less :Shares
bought back |
- |
Rs.44.300
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2654.000 |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26,74,20,262 |
Equity Shares |
Rs.10/- each |
Rs.2674.200
Millions |
|
44,30,262 |
Less: Shares bought back |
|
Rs.44.300
Millions |
|
3,54,479 |
Forfeited Shares-Amounts originally paid up |
|
Rs.0.400
Millions |
|
|
Total |
|
Rs.2630.300 Millions |
Reconciliation of the
Shares outstanding at the beginning and at the end of the year:
|
|
31.03.2012 |
|
|
|
Number of Shares |
Amount |
|
At the beginning of the year |
26,74,20,262 |
2674.200 |
|
Issued during the year |
- |
- |
|
Bought back during the year |
44,30,262 |
44.300 |
|
Outstanding at the end of the year |
26,29,90,000 |
2629.900 |
Details of
Shareholders holding more than 5% shares:
|
|
31.03.2012 |
|
|
|
Number of Shares |
% of Held |
|
AAA Project Ventures Private Limited |
12,56,48,937 |
47.78 |
|
Life Insurance Corporation of |
-2,20,42,411 |
8.38 |
Terms / Rights attached
to equity shares:
(a) Voting
The Company has only one class of equity shares having a par value of
Rs. 10 per share. Each holder of equity shares is entitled to one vote per
share.
(b)Dividends
The Company declares and pays dividends in Indian rupees. The dividend
proposed by the Board of Directors is subject to the approval of the
shareholders in the ensuing Annual General Meeting.
During the year ended March 31, 2012, the amount of per share dividend
recognized as distributions to equity
shareholders was Rs. 7.30 (Rs. 7.20)
(c) Liquidation
In the event of liquidation of the Company, the holders of equity shares
will be entitled to receive all of the remaining assets of the Company, after distribution
of all preferential amounts. The distribution will be in proportion to the
number of equity shares held by the shareholders
Buy-back of Equity
Shares:
Pursuant to the approval of the Board of Directors of the Company, for
buy-back of equity shares under Section 77A of the Act to the extent of less
than 10% of the paid-up equity share capital and free reserves of the Company
aggregating not exceeding Rs. 10000.000 Millions, the Company bought-back
44,30,262 (Nil) equity shares of Rs. 10 each during the year ended March 31,
2012 through open market transactions at an aggregate value of Rs. 2348.800
Millions (Rs. Nil), by utilizing the Securities Premium account to the extent
of Rs. 2304.500 Millions ( Rs. Nil) and the Capital Redemption Reserve has been
created out of the General Reserve for Rs. 44.300 Millions (Rs. Nil) being the
nominal value of shares bought- back in terms of Section 77A
of the Act.
Aggregate number of shares bought back during the period of five years
immediately preceding the reporting date – 1,56,90,262 (1,12,60,000)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2630.300 |
2674.700 |
2449.200 |
|
|
2]Equity Warrants
Issued |
0.000 |
0.000 |
5410.800 |
|
|
3] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
182778.500 |
174000.400 |
143661.900 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
185408.800 |
176675.100 |
151521.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
50021.500 |
15839.200 |
14750.000 |
|
|
2] Unsecured Loans |
41455.800 |
23853.700 |
26399.000 |
|
|
TOTAL BORROWING |
91477.300 |
39692.900 |
41149.000 |
|
|
DEFERRED TAX LIABILITIES |
4495.200 |
990.300 |
1577.100 |
|
|
|
|
|
|
|
|
TOTAL |
281381.300 |
217358.300 |
194248.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
70719.700 |
62059.700 |
34771.400 |
|
|
Capital work-in-progress |
6819.100 |
6492.500 |
5548.700 |
|
|
|
|
|
|
|
|
INVESTMENT |
127850.600 |
125840.800 |
100195.700 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3094.000
|
2903.400
|
2691.500
|
|
|
Sundry Debtors |
45655.900
|
48578.800
|
33457.100
|
|
|
Cash & Bank Balances |
6860.700
|
3710.500
|
3018.200
|
|
|
Other Current Assets |
54824.100
|
17681.200
|
14212.600
|
|
|
Loans & Advances |
117971.800
|
88066.300
|
66639.900
|
|
Total
Current Assets |
228406.500
|
160940.200 |
120019.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
38246.200
|
43695.200
|
19229.100
|
|
|
Other Current Liabilities |
108095.700
|
81419.000
|
37238.100
|
|
|
Provisions |
6072.700
|
12860.700
|
9819.900
|
|
Total
Current Liabilities |
152414.600
|
137974.900 |
66287.100 |
|
|
Net Current Assets |
75991.900
|
22965.300
|
53732.200
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
281381.300 |
217358.300 |
194248.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
179066.700 |
58062.100 |
63677.600 |
|
|
|
Income of EPC and Contract Business |
0.000 |
36085.800 |
35219.200 |
|
|
|
Other Income |
7086.800 |
8516.500 |
10183.800 |
|
|
|
TOTAL (A) |
186153.500 |
102664.400 |
109080.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Electrical Energy Purchased |
24591.700 |
27243.100 |
33219.400 |
|
|
|
Cost of Fuel |
15486.700 |
13011.400 |
12198.300 |
|
|
|
Tax on |
0.000 |
1343.500 |
1541.300 |
|
|
|
Generation, Distribution, Administration and
Other Expenses |
0.000 |
12100.000 |
10406.800 |
|
|
|
Expenditure of EPC and Contract Business |
0.000 |
32057.300 |
32624.900 |
|
|
|
Construction Material Consumed and Sub-Contracting Charges |
97376.900 |
- |
- |
|
|
|
Employee benefit expenses |
7404.800 |
- |
- |
|
|
|
Other expenses |
7957.100 |
- |
- |
|
|
|
TOTAL (B) |
152817.200 |
85755.300 |
89990.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST TAX DEPRECIATION AND AMORTISATION (A-B) (C) |
33336.300 |
16909.100 |
19089.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5681.000 |
2424.500 |
2922.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX DEPRECIATION AND AMORTISATION (C-D) (E) |
27655.300 |
14484.600 |
16167.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2677.700 |
3134.100 |
3198.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
24977.600 |
11350.500 |
12969.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
4975.000 |
541.400 |
1452.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
20002.600 |
10809.100 |
11516.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4000.000 |
5984.600 |
6832.000 |
|
|
|
|
|
|
|
|
|
Less |
Statutory Reserve and Other Appropriation |
0.000 |
190.600 |
169.600 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15000.000 |
10000.000 |
10000.000 |
|
|
|
Proposed / Interim Dividend |
- |
1912.500 |
1738.600 |
|
|
|
Dividend On Equity Shares |
2220.000 |
0.000 |
0.000 |
|
|
|
Corporate Tax on Dividend |
- |
310.300 |
97.800 |
|
|
|
Transfer to Debenture Redemption Reserve |
480.000 |
378.900 |
358.300 |
|
|
|
Transfer to Statutory Reserve |
110.000 |
- |
- |
|
|
BALANCE CARRIED
TO THE B/S |
6192.600 |
4001.400 |
5984.600 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Premium on Redeemable Preference Shares |
- |
1155.000 |
361.900 |
|
|
|
Other Income |
1.600 |
6.800 |
65.000 |
|
|
|
Derivative Gain (Net) on commodity hedging |
131.400 |
|
|
|
|
TOTAL EARNINGS |
133.000 |
1161.800 |
426.900 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Fuel Coal |
3478.300 |
2419.300 |
2824.400 |
|
|
|
Components & Spares Parts |
7.300 |
12.100 |
97.600 |
|
|
|
Capital Goods |
3642.300 |
331.000 |
124.700 |
|
|
|
Other Materials (including EPC contract materials) |
40691.00 |
2573.200 |
15262.800 |
|
|
TOTAL IMPORTS |
47818.900 |
5335.600 |
18309.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share |
|
|
|
|
|
|
Basic |
75.70 |
43.23 |
51.11 |
|
|
|
Diluted |
75.70 |
40.51 |
50.32 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
|
|
30.06.2012 |
|
|
|
|
1st
Quarter |
|
Net Sales |
|
|
3447.280 |
|
Total Expenditure |
|
|
29874.600 |
|
PBIDT (Excl OI) |
|
|
4598.200 |
|
Other Income |
|
|
2586.200 |
|
Operating Profit |
|
|
7184.400 |
|
Interest |
|
|
1901.800 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
5282.600 |
|
Depreciation |
|
|
1130.400 |
|
Profit Before Tax |
|
|
4152.200 |
|
Tax |
|
|
882.000 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
3270.200 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
3270.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
10.75 |
10.53
|
10.56
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.94 |
19.55
|
20.37
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.35 |
5.09
|
8.40
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.06
|
8.56
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.31 |
1.01
|
0.72
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50 |
1.17
|
1.81
|
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
No |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
FINANCIAL
PERFORMANCE
During the year the Company earned
an income of Rs. 186150.000 Millions, against Rs. 102100.000 Millions in the
previous year. The Company earned profit after tax of Rs. 20000.000 Millions as
compared to Rs. 10810.000 Millions in the previous year. Shareholders equity
(Net worth) increased to Rs. 18,541 Millions from Rs. 176680.000 Millions in
the previous year.
BUSINESS
OPERATIONS
The Company is in the business of generation, transmission and
distribution of power. During the year, the Maharashtra Electricity Regulatory
Commission extended the distribution and transmission licence of the Company
for a further period of 25 years. The Company is the leading player in the
country in the Engineering, Procurement and Construction (EPC) segment of the
power and infrastructure sectors. The Company is also
engaged in implementation, operation and maintenance of several projects
through special purpose vehicles in various infrastructural areas.
A detailed review of the operations, performance and outlook of the
Company and its business is given in the Management Discussion and Analysis
Report, which forms part of this Annual Report.
MANAGEMENT
DISCUSSION AND ANALYSIS
Economic Outlook
The global economic and financial crisis has had a dampening effect on
cross border Foreign Direct Investment flows and in order to maintain earlier
levels of foreign investment and attract more, it is imperative to enhance
Overall Review
Reliance Infrastructure Limited is India’s leading private sector
Infrastructure Company, with aggregate group revenues of about Rs. 355700.000
Millions (US$ 7 billion) and gross fixed assets of Rs. 298300.000 Millions (US$
5.9 billion). Reliance Infrastructure is ranked amongst
·
Total Income of Rs. 186150.000 Millions (US$ 3.7
billion), as against Rs. 102100.000 Millions in the previous financial year
·
Cash Profit of Rs. 26190.000 Millions (US$ 515
million) against Rs. 13360.000 Millions in the previous financial year.
·
Net Profit of Rs. 20000.000 Millions (US$ 393
million) against Rs. 10810.000 Millions in the previous financial year
·
Cash Earnings per Share for the year of Rs. 99 (US$
1.9) against Rs. 53 in the previous financial year.
·
Earnings per Share (EPS) of Rs. 76 (US$ 1.5)
against Rs. 43 in the previous financial
year.
In order to optimise shareholder value, the Company continues to focus
on in-house opportunities as well as selective large external projects for its
Engineering, Procurement and Construction (EPC) Division. The EPC Division had
an order book position of Rs. 172800.000 Millions (US$ 3.4 billion) as on March
31, 2012.
Financial Review
Reliance Infrastructure’s total income for the year ended March 31, 2012
was Rs. 186150.000 Millions (US$ 3.7 billion), compared to Rs. 102100.000
Millions (US$ 2.0 billion) in the previous year.
The total income includes earnings from sale of electrical energy of Rs.
53210.000 Millions as compared to Rs. 57490.000 Millions recorded last year.
The sale of electrical energy includes income of Rs.4200.000 Millions (US$ 82
million) and Rs. 3600.000 Millions (US$ 71 million) from the Samalkot Power
Station (SPS) and the Goa Power Station (GPS) respectively.
The income of the EPC business was Rs. 116780.000 Millions (US$ 2.3
billion), against Rs. 35870.000 Millions (US$ 706 million) in the previous
year.
During the year, interest expenditure increased to Rs. 5680.000 Millions
(US$ 112 million) as compared to Rs. 2500.000 Millions (US$ 49 million) in the
previous year, The Company had, in order to reflect the true value of its prime
assets, revalued the assets of its Dahanu Power Station as at April 1, 2003 by
Rs. 7250.000 Millions (US$ 163 million). In view of this, the depreciation on
such revalued assets is higher by Rs. 300.000 Millions (US$ 6 million), and the
same has been adjusted by withdrawing equivalent amount from the revaluation
reserve, which is credited to the profit and loss account.
The generation plants – Samalkot power station,
The corporate tax liability for the year was Rs. 4980.000 Millions
(US$ 98 million), compared to Rs.
540.000 Millions (US$ 11 million) in the previous year.
Cash profit for the year was Rs. 26190.000 Millions (US$ 515 million)
compared to Rs. 13360.000 Millions (US$ 263 million) in the previous year.
Operating profit i.e. profit before depreciation, interest and tax
(PBDIT) was Rs. 33340.000 Millions (US$ 655 million), against Rs. 16980.000
Millions (US$ 334 million) in the previous year.
Net profit for the year was Rs. 20000.000 Millions (US$ 393 million),
against Rs. 10810.000 Millions (US$ 212 million) in the previous financial
year.
Infrastructure
Industry Structure and Development
Infrastructure investment requires huge capital outlay which was
considered to be big hurdle in the past due to prohibition or lesser private
participation. Consequently, the Government is encouraging more private sector
participation through Public Private Partnership (PPPs) concept, which is fast
evolving in all the aspects of infrastructure development. Such private
investments not only help in meeting the funding requirement of projects but it
has also other advantages like improvement in competitiveness of the projects,
more efficient execution, better offerings, etc. The gross capital formation in
infrastructure should touch ~7.6 per cent during the 11th five year plan
compared to only 5.1 per cent in 10th five year plan which constitutes a
significant shift in favour of investment in the infrastructure sector.
According to the 11th five year plan, investment in infrastructure will be Rs.
20,540 billion which is expected to increase to Rs. 40,990 billion in the 12th
five year plan. Out of the total outlay on
infrastructure sector during 11th five year plan, ~30 per cent of total
investment is expected to come from private participation which is expected to
increase to 50 per cent in the 12th five year plan.
Power
Generation
adequate measures for development of coal sector such as setting up coal
regulatory authority, signing of Long Term PPAs etc. In order to provide
impetus to the sector, the government has planned massive investment of 4,950
billion in the 12th Plan compared to Rs. 4,110 billion in the 11th
Plan.
Transmission
The Government of India has ambitious mission of “Power For All by 2012”
which would require installed generation capacity to be 200 GW by 2012.
Commensurate with the capacity addition, the sector would require transmission
line addition of about 100,000 circuit kms, HVDC terminal capacity of 130,000
MW and AC transformation capacity of 270,000 MVA along with inter regional
transmission capacity of 37,800 MW to ensure increased availability of power to
the end user. State-owned Power Grid Corporation of India Limited, the central
transmission utility, alone transmits 50 per cent of the total electricity
generated in the country. To achieve the provisioning of quality power at
reasonable rates, the Government has consistently improved the competitive
framework, where private participation can happen in generation as well as the
transmission sectors within a conducive environment. In pursuance of
competitive spirit enshrined in the Electricity Act 2003, the Government has
notified that all the interstate transmission projects after January 5, 2011
are to be implemented through the process of competitive bidding. Sofar, ten
interstate transmission projects with a capital outlay of Rs. 140 billion, have
undergone tariff based competitive bidding process. Out of these ten projects,
Reliance Power Transmission
Limited, a subsidiary of the Company has bagged four projects worth
approximately Rs. 55 billion. According to estimates,
Distribution
Distribution segment is clearly the weakest link in the power segment.
The current losses of distribution utilities are to the tune of Rs.. 700
billion. This is mainly due to State power regulators lagging in setting power
tariffs annually, supply of free or virtually free power to the farm sector,
and its mostly unmetered nature resulting into considerable leakage and
finally, State-owned power utilities have tolerated large losses, often
reflecting collusion between the distribution staff and consumer However over
the past few months, government has realized this impact of distribution losses
and have been instrumental in increasing the tariff ranging from 20 per cent to
40 per cent in a few states. Since the financial viability of the power sector
as a whole depends upon the revenues collected at the distribution end, it is
utmost important to make it financially viable by bringing in modern systems of
management, use of IT, enforcement of accountability. Privatization and
franchising model has helped reduce the distribution losses in a few States.
For example,
Transport
Infrastructure
Connectivity is a key component of development. It is the pillar on
which economy grows and development is witnessed. Roads, railways and airports
formulate the path to the holistic development of the nation and are the most
preferred mode of transportation due to easy availability, adaptability to
individual needs, etc. Realizing the need for good urban transport, the
government has allocated ~25 per cent i.e Rs. 5,150 billion of the total
infrastructure spending in roads, railways including metro rails and airports.
During the financial year ended on March 31, 2012, NHAI awarded 6,491
kms of roads compared to 5,083 kms of roads in the financial year ended on
March 31, 2011 and further plans to award 8,800 kms of roads for FY13. NHAI has
cited its ambitious target of building 20,000 kms of roads through EPC
contracts for an estimated Rs. 700 billion through the 12th Five Year Plan.
Also 18,000 kms of
The Government of India has highlighted that funding will not be a
constraint for the sector since Rs. 304 billion premium with 5 percent
escalation every year will be collected from the projects awarded between the
financial years March 31, 2010 and March 31, 2012 which will be sufficient to
fund another 2,500-3,500 kms of road projects. Also, in the annual budget the
government has allocated Rs. 500 billion for National highways and rural
development projects. According to the Planning Commission, the roads sector
requires an investment of Rs. 6,765 billion in the 12th Five Year Plan period
as compared to Rs. 2,790 billion in the 11th Five Year Plan and 50 per cent of
this investment is expected to come from the private sector.
Railways
Indian Railways is the backbone of
private sector participation. The railways are targeting ~30 per cent of
investment from the private sector and will be focused on the modernization of
metro rail stations, logistics, parks and container depots, the establishment
of manufacturing facilities for modern rolling stock and dedicated freight and
high-speed passenger corridors.
Airports
The Indian aviation market is the ninth largest market in
Transmission
Business
Western Region System
Strengthening Scheme II (WRSSS–II)
Reliance Power Transmission Limited, a subsidiary of the Company is
implementing two projects secured through International competitive bidding
with approximate project cost of Rs. 15000.000 Millions on build, own and
operate (BOO) basis. These involve construction, maintenance and operation of
nine transmission lines of 3,036 ckt kms length (six lines with line length,
,082 ckt kms to be executed by Western Region Transmission Maharashtra) Private
Limited, and three lines with line length 54 ckt kms by Western Region
Transmission (Gujarat) Private Limited.
Six transmission lines associated with the project with a cumulative
line length of about 1,460 kms have been commissioned so far nd are being
successfully operated. Four of the completed lines with an aggregate line
length of 974 kms are in the state of Maharashtra and the remaining two lines
of 486 kms length are in
Revenue to the tune of Rs. 50 Millions has been realized in 2011-12 with
monthly revenue generation standing at Rs. 6.4 Millions. These projects are
backed by sound payment security mechanism now introduced by the Central
Electricity Regulatory Commission (CERC) in the sector for all interstate
projects under the Point of Connection charges (PoC) mechanism. During the
current year, the rupee debt financing in the
Parbati Koldam
Transmission Corporation Limited
This project is under implementation through a Joint venture with PGCIL
under build, own and operate (BOO) structure and cost plus tariff model with an
estimated project cost of Rs. 10000.000 Millions. The project consists of
construction, maintenance and operation of 400 kV Transmission lines from 800
MW Parbati- II Hydro Electric Project (HEP) (being constructed by National
Hydro Power Corporation Limited) and 800 MW Koldam HEP (being constructed by
NTPC Limited) hydro projects in Himachal Pradesh. It entails construction of
three lines- two single circuit lines from Parbati-II to Koldam and one double
circuit line from Koldam to
by end of 2012-13.
Mumbai
Transmission
During the year, the Company was granted the transmission license for a period
of 25 years with effect from August 2011. With this, RInfra would continue to
serve customers of its Mumbai Transmission business till August 2036.
Under the Mumbai strengthening project for the augmentation of the
Mumbai network, three EHV stations were charged during the previous year. This
year, one more EHV station at Borivali along with the scheme of LILO
(Loop-In-Loop-Out) of 220 kV MSETCL Boisar- MSETCL Borivali line at Ghodbunder
was commissioned. The EHV station at Borivili too is a uniquely designed
vertically configured, multistoried, compact, new generation GIS, 220 kV /33 kV
EHV station similar to the 3 EHV stations commissioned in the previous fiscal.
The LILO scheme provides RInfra with an additional connectivity to the grid.
With this, RInfra now has 7 EHV stations with total transformation capacity of
2,600 MVA and 500 ckt kms of line in its transmission network. The balance
works for the projects are in full swing and would be commissioned
progressively.
A total capital expenditure of Rs. 3240.000 Millions was incurred in
during 2011-12. Cumulatively, a capital expenditure of Rs. 7880.000 Millions
has been incurred towards the Mumbai strengthening project with Rs. 5300.000
Millions being capitalized. Notwithstanding the new projects and their success,
the Company maintained its high standards of availability with a network
availability of 99.77 per cent registered for the year, setting it amongst the
top performing utilities in the country. This was possible only due to the
adoption of the best practices and the tireless efforts of their dedicated
team. Fragility of the Mumbai transmission network and the need for its
augmentation has been a discussion point for some time and received increased
and necessary attention this year. RInfra in its role as a transmission utility
participated actively and wholeheartedly in all the relevant forums including
the meetings of the Standing Committee constituted by MERC to look into the
criticality of the network and envisage a path ahead.
On the policy front, the government is encouraging private participation
through emphasis on the PPP model. However, there has been an amendment in the
tariff policy which exempted intra-state transmission sector from competitive
bidding till January 2013.
Other achievements
·
Another front for success of Mumbai Transmission is
the Small Group Activity (SGA). Post its success at CCQC, seven SGA Groups
(Quality Circles) presented their projects at NCQC-2011 held at
·
The Company has successfully undergone second
Surveillance Audit for Integrated Management System
by Bureau Veritas
Certification (
certification.
The project is on build, own, operate and maintain (BOOM) basis with
approximate project cost of Rs. 16000.000 Millions. It involves construction of
three 765 kV transmission lines of length of approximately 800 Kms and two 400
kV transmission lines of length of approximately 250 Kms. These lines would
connect
Financial closure for the project has been achieved. Transmission
license, tariff adoption and authorization under section 164 of the Electricity
Act, 2003 for the project have been received. Survey and design activities of
the project are in progress and the construction is expected to begin soon.
Delay in receipt of enabling statutory clearance, is adversely affecting
the project economics. This resulted in a force majeure situation for the
project company as the delays were neither attributable to project company nor
could have been mitigated by project company. The Company has filed a petition
with the Central Electricity Regulatory Commission wherein company has sought
various mitigation measures in terms of tariff escalation and time extension
for project completion.
Talcher II
Augmentation Project
This project is also on build, own, operate and maintain (BOOM) basis
with approximate project cost of Rs. 900 Millions. The project comprises of
three 400 kV Double ckt transmission lines of 670 Km length. Lines would
connect Talcher,
Financial closure for the project has been achieved. Transmission
license, tariff adoption and authorization under section 164 of the Electricity
Act, 2003 for the project have been received. Survey and design activities of
the project are in progress and the construction is expected to begin soon.
Here again, delay in receipt of enabling statutory clearances, is
adversely affecting the project economics. This resulted in a force majeure
situation for the project company as the delays were neither attributable to
project company nor could have been mitigated by project company. The Company
has filed a petition with the Central Electricity Regulatory Commission wherein
company has sought various mitigation measures in terms of tariff escalation
and time extension for project completion.
Trading Business
Reliance Energy Trading Limited (RETL), a wholly owned subsidiary of the
Company, has positioned itself as a favoured trader for trading of power from
captive / independent power plants. In the present tight money condition of the
market, RETL also concentrated on power trading through banking that helped in
making cashless transactions and maintaining the trading margin at the same
level as that with cash transactions. RETL is a professional member of both
power exchanges with a significant market share of exchange traded volume. With
the implementation of distribution open access, RETL is also targeting
industrial / open-access consumers in several states. Trading of renewable
energy is another upcoming activity that the company is concentrating upon. In
the coming years, RETL is expecting a significant boost in trading volume
through trading of merchant power from the Group’s upcoming power projects
During the year, the Company traded 4,060 million units and has registered a
CAGR of 41 per cent in trading volume over last 5 years. The Central
Electricity Regulatory Commission (CERC) is consistently ranking RETL among the
top five trading licensees.
The Epc Business
The EPC Division of Reliance Infrastructure undertakes the Engineering,
Procurement and Construction (EPC) turnkey contracts in coal-based thermal and
gas-power projects, transmission lines and road projects.
The Division is equipped with the requisite expertise and experience to
undertake the EPC projects and execute them successfully on stand alone basis.
It employs state-of-the-art technology in engineering, design and project
management to execute the projects.
The Division has grown from limited work execution provider to total
solution provider in the Indian power sector. The Division gives utmost
priority for implementation of projects within the stipulated time frame. The
Company’s advanced and cost effective Integrated Project Management and Control
System has been contributing significantly for project execution.
The Division has continued to perform well during 2011-12 and the order
book position as on March 31, 2012 was Rs. 172800.000 Millions. The turnover
for FY 2011 - 12 was at Rs. 116890.000 Millions against Rs. 35910.000 Millions
in FY 2010 -11, registering a growth of 226 per cent.
Ongoing Projects
6 x 660 MW Sasan
Ultra Mega Power Project, Madhya Pradesh
Sasan Ultra Mega Power Project is one of the largest domestic coal based
power plants and is executed by the EPC Division of the Company
The major project highlights are as per the following:
·
54 per cent overall work is completed.
·
Work is under progress in Boiler, Turbine, and
Generator (BTG) area for all six units.
·
400 kV Switchyard is getting ready for receiving
start-up power.
·
52,822 MT in BTG erection work in all six units and
22,027 MT in Bunker and power house fabrication work completed.
·
Civil work is in progress for Inverse Discrete
Cosine (IDCT) 1 and 2. Flue Can Fabrication work is in progress for Chimney-1
and 111.7 meters work completed for Chimney-2.
·
Over land conveyor for coal transportation from
mines including the bridge, raw water reservoir and pump house construction,
coal handling and ash handling works are in progress.
2400 MW Samalkot
Combined Cycle Power Plant, Andhra Pradesh
The power project consists of Three modules of 2 Gas Turbine Generator
and 1 Steam Turbine Generator. The EPC Division is executing
Major highlights of the project are:
·
50 per cent overall progress achieved.
·
Gas
Turbine–Generator-Heat Recovery and Steam Generator (main plant) civil and erection work General
Civil Works package-1(GCW-1) is in progress for Block 3, 2, 4.
·
First fire of
four Gas Turbines completed out of which two have been synchronised.
·
Balance of
plant ware house, cooling water pump house, raw water pump house is in progress
·
98 per cent of
Switchyard building works completed and finishing is under progress. 400 kV
cable termination work is in progress
·
Efforts are on
with the Government of India for availability of gas to run all commissioned
gas turbine power plants
2 x 300 MW Butibori Power Project,
The above project located near
Status of the project is as per the following:
·
65 per cent
overall progress achieved.
·
Boiler Unit-1
light up has been done on March 29, 2012. Steam blowing work is in progress.
·
Unit 2 -
Boiler Hydro test completed on March 10,2012 and preparation are on for Boiler
Light up.
·
Turbine Box-up
work is in Progress for Unit-1
·
Chimney -
Unit-1 is ready for synchronization and Unit-2 Flue duct erection work is in
progress
·
Work is in
progress for coal handling, ash handling and cooling tower readiness for
synchronization of Unit-1
·
Railway siding
work and Water conveyance for Unit-2 is under progress
2 x 600 MW Raghunathpur Thermal Power Station,
The project was awarded to the Company
by Damodar Valley Corporation (DVC) for the 2 x 600 MW Thermal Power Plant
at Raghunathpur in
Significant highlights and milestones
reached in execution of the project by the EPC Group are:
·
83 per cent
overall progress achieved
·
Boiler Hydro test
and turbine box-up completed for Unit-1 and preparation are on for Boiler Light
Up of Unit-1
·
Boiler Hydro
test of Unit-2 completed
·
400 kV
Switchyard is getting ready for charging
·
Erection of
Chimney Flue-1 completed and for Flue-2 isunder progress
·
Target to
achieve Commercial Operation Date (COD) of Unit- 1 and Unit-2 within FY 2012-13
subject to availability of water, coal and power from DVC.
2 X 600 MW Rajiv Gandhi Thermal Power Project,
Hisar, Haryana
The project is a turnkey project
awarded by Haryana Power Generation Corporation Limited (HPGCL) for generating
power in Haryana.
Significant highlights and milestones
reached are:
·
Project work
is in closing stage.
·
Both the Units
trial run completed and under commercial operation by HPGCL
·
Request
submitted to client for Provisional take over of Units.
·
Performance
guarantee tests of the Unit-2 is completed and Unit-1 is under progress.
2 x 250 MW Parichha Thermal Power Project –II [Unit
5 and
(Balance of Plant Package)
The project of the Balance of Plant
package was awarded to the Company by Uttar Pradesh Rajya Vidyut Utpadan Nigam
Limited for the 2 X 250 MW Parichha Thermal Power Plant Ext-II.
96.8 per cent overall progress
achieved
·
Synchronization
of Unit-5 has been achieved on February 5, 2012
·
Preparation
are on for Boiler Light up and synchronization of Unit-6
New Initiatives
The EPC Division of RInfra has taken
the following initiatives in engineering, construction and technology areas for
successful accomplishment of mega and ultra mega power projects:
Construction and technological Initiatives
·
Installation of
Glass Reinforced Polyester (GRP ) pipes for cross country water pipeline in
place of conventional MS pipes in Samalkot combined cycle power project and
Sasan ultra mega power project.
·
Use of light
weight Fibre-reinforced plastic (FRP) beams, columns and gratings instead of
conventional steel beams and concrete slabs in the cable trenches containing
extensive network of 400 kV and 220 kV cables for better reliability and faster
construction.
·
Extensive
installations of Remote control I/O (Full form) Cabinet’s for ash handling
plant, coal handling plant, raw water pump house, etc. in the ultra mega power
project Sasan for better maintainability, reliability and ease of operations.
·
Installation
of radar type level transmitter for acid and ash silo level applications for
accurate and reliable measurement in the ultra mega power project Sasan.
·
Use of MPLS
VPN (multi protocol label switching virtual private network) communication
technology in place of conventional PLCC (Power line carrier communication) at
the Butibori switch yard for transfer of plant data to the Load Dispatch
Centre.
·
Implementation
of Intergraph’s state of art software, smart plant 3D modelling solutions for
modelling of upcoming power plants.
·
Use of
geo-spatial technology in engineering with wide range of GIS based solutions
being envisaged for construction of power plant infrastructure.
·
Modular
cooling tower concept with cooling water pump house integrated with cooling
tower basin dispensing cooling water fore bay at the Samalkot combined cycle
power project.
·
Installation
of FRP (Fibre-reinforced plastic) type cooling towers at the Samalkot combined
cycle power project and Sasan ultra mega power project which significantly
reduces construction period and are aesthetically better.
·
Use of PPG
(Poly propylene glass ) lining for chemical drains in place of acid resistant
tiles for ease of erection, better reliability and service life.
·
Use of power cell bypass feature in variable
frequency drive of overland conveyor to facilitate automatic bypass of faulty
cells and provide uninterrupted operation of overland conveyor.
·
ISO 50001 Energy management system has been
implemented at Noida office to reduce the overall energy consumption through
modification/replacement of existing facilities like replacement of higher
watts Lamps with LEDs, reducing of LPG, diesel ,air-conditioner and water
consumption.
·
For material tracking, logistics automation from
Engineering
Initiatives
·
Central core engineering group: Fully functional to
introduce latest technology, enhance engineering quality, standardization of
all engineering deliverables, capturing lessons learnt and facilitating
knowledge sharing from completed and on going projects. Core engineering group
that also closely associated with optimization and new innovation. This group
also ensures engineering is done across all projects with best systems and
procedures and at the same time ensures maximum repeatability for expansions
and new projects in order to minimize the efforts.
·
Engineering Management Practices : Best practices
in engineering management have been adopted like time sheets for effective
resource utilization and productivity analysis for all engineering departments,
in order to mobilize and de-mobilize resources as per the project requirements,
intelligent document management and
process tracking systems, SAP-DMS (full form) with the objective to
deliver / transfer deliverables on right
·
Engineering Automation Group: Incorporates the best
and intelligent 3D plant design automation technology by using high end 3D
modelling software to facilitate development of 3D plant models for solving
major engineering constraints, clash detection and removal, constructability
and construction sequencing, bill of material and general arrangement drawings.
The Group is working extensively on development of intelligent PandID’s,
training on Intergraph applications for construction teams at site and young
engineers who need to understand power plant in general and engineering in
particular. The Group has already developed interactive models for Rosa, Sasan
and Samalkot projects and is instrumental in optimizing layouts and designs.
·
On Line E-Library : World-class facilities in terms
of standard / reference materials have been provided to the engineering staff
by RInfra – Library and Resource centre at engineering offices and supported by
world class IT infrastructure. Technical Library has latest standards, codes,
books, periodicals and journals both hard copies and in soft form. The content
of this library is electronically made available to everyone and continuously
upgraded based on project requirements.
·
GIS (Geographic Information System) Group: Set up
to introduce geo-spatial technology in engineering with wide range of GIS based
solutions for construction of power plant infra-structure. These innovative
solutions in past few years have become an integral part of power project
engineering, developing site-specific scenario using satellite images and DGPS
(Differential Global Positioning System) has become instrumental in optimizing
layouts and design.
Quality Management
The EPC Group follows extensive quality management processes at
construction sites and manufacturing shops. The Company has deployed various
executives under field quality cell at project sites to maintain the field quality.
The Group generally sends executives for inspection at manufacturing works and
third party inspection agencies like Lloyds, Bureau Veritas, DNV, etc to ensure
reliability and efficiency of equipment.
Infrastructure
Projects
Roads Projects
RInfra is one of the largest developers of road and highway projects for
the National Highways Authority of India (NHAI) under the build, own, transfer
(BOT) scheme. The Company is developing 11 road projects worth about Rs.
120000.000 Millions through special purpose vehicles of which five projects
have started generating revenues and additional six projects would start
generating revenue shortly. Out of the six operational projects, Hosur
Krishnagiri (HK) Trichy Dindigul (TD) became operational in last one year.
Construction work is in full swing at all the remaining project sites. Two more
projects Gurgaon to
NK Toll Road
Limited was set up to design, build and operate the National Highway 7 for about
43 kms connecting Namakkal to Karur in Tamil Nadu for a concession period of 20
years. The project has been completed and is in operation since August 2009.
During 2011-12, the project has seen 23 per cent growth in revenue as compared
to the last year. This stretch has been witnessing good traffic growth.
Namakkal is known for vehicle body building industry whereas Karur is
one of the leading cities for textile industry. NH 7 is one of the busiest
sections of the north south corridor of southern
DS Toll Road
Limited was set up to design, build and operate the National Highway 7 for
about 53 km long 4 lane National Highway (NH 7) road connecting Dindigul to
Samynallore near Madurai in Tamil Nadu for a concession period of 20 years. It
is in operation from September 2009. During 2011-12, the project recorded 21
per cent growth in revenue as compared to last year. This stretch has been
witnessing double digit traffic growth. The project stretches to Karnataka
easing traffic flow to IT destinations like Bengaluru and is a part of the
golden
quadrilateral of national highways.
TD Toll Road
Private Limited was set up to design, build and operate 88 km long four lane National
Highways (NH45) road connecting Trichy to Dindigul in Tamil Nadu for a
concession period of 30 years which came into operation from January 2012. This
project connects religious places like
SU Toll Road
Private Limited was set up to design, build and operate 136 km long four lane National
Highways (NH68) road from Salem to Ulundurpet in Tamil Nadu for a concession
period of 25 years. The project is expected to be commissioned in the financial
year 2012-13. There has been delay on account of land acquisition.
This was the first project of more than 100 km to be awarded by NHAI on
build, own and transfer basis. The project corridor connects two important
National Highways, NH-7 and NH-45. The entire length of NH-68, between
TK Toll Road
Private Limited was set up to design, build and operate 80 kms long four lane National
Highways (NH67) road from Trichy to Karur in Tamil Nadu for a concession period
of 30 years. The project is expected to be commissioned in the financial year
2012-13. There has been delay on account of land acquisition. The project lies
along the corridor connecting
GF Toll Road
Private Limited was set up to design, build and operate 66 km long lane road connecting
Gurgaon and
The presence of crusher zone is expected to provide a lot of 3 axle and
MAV traffic and also serve as partial ring road to
JR Toll Road
Private Limited was set up to design, build and operate 52 km long lane National
Highways (NH11) road connecting Reengus in northern part of Rajasthan to its
capital city Jaipur for a concession period of 18 years. The project is
expected to be completed in 2012-13. There has been delay on account of land
acquisition.
This road connects the State capital Jaipur with district head quarters,
Chomu, Sikar and carries predominant passenger and goods traffic. The presence
of Chomu industrial area and the Khatu Shyam temple on the project stretch and
gateway to northern
PS Toll Road
Private Limited was set up for design, engineering, construction, operation and
maintenance for 140 km long six lane National Highways (NH4) road between Pune
and Satara in
KM Toll Road
Private Limited was set up for design, engineering, construction, operation and
maintenance for 71 km four / six lane National Highways (NH8A) road between
Kandla and
attracting substantial cargo traffic to the corridor. It also caters
to the traffic generated by various
industries in the project influence area.
HK Toll Road
Private Limited was set up for design, engineering, construction, operation and
maintenance for 60 km long six lane National Highways (NH7) road between Hosur
and Krishnagiri in Tamil Nadu for a concession period of 24 years. Tolling for
the existing four lane started from June 7, 2011. This project is along the
main corridor connecting Bengaluru and Chennai and Bengaluru to southern parts
of
dams and Hogenakkal falls and traffic from manufacturing industries ply
on the project stretch.
DA Toll Road
Private Limited was set up for design, engineering, construction, operation and
maintenance for 180 km long six lane National Highways (NH 2) road between
Awards and
Recognitions
Dahanu Power
Station
Operational
Performance Awards
·
National awards for Meritorious Performance in
Power sector in recognition of Outstanding Performance
during 2009-10 – Gold Shield
and 2010-11 – Bronze Shield by the Ministry of Power, Government of
·
MEDA (Maharashtra Energy Development Agency) award
for Excellence in Energy Conservation and Management in Thermal Power Station
sector for the years 2008-09 and 2009-10.
·
QIMPRO – Qualitech for improvement in Business –
2011.
·
Confederation of Indian Industry (CII) - National
award for Excellence in Energy Management – 2011
Environmental
Awards
·
Greentech Environment Excellence award 2011
·
Environmental Best Practices award 2011 for
Innovative Environmental Project - CII
·
Srishti Good Green Governance award 2011
Safety Awards
·
Viswakarma Rastriya Puraskar to one employee from
the Ministry of Labour and Employment, Government
of
·
Golden Peacock award for Occupational Health and
Safety Award – 2010
EPC Division
·
Successfully completed the surveillance audit for
the ISO 9001: 2008 and ISO 50001:2011 through Ms Bureau Veritas, OHSAS 18001,
ISO -14000 systems through M/s DNV.
·
Construction Industry Development Council
(established by the Planning Commission, Government of India) has awarded
"Chairman Commendation Trophy" to Reliance Infrastructure Limited,
EPC Division for its efforts in Safety , Health and Environmental initiatives
at Project Sites.
·
Construction Industry Development Council
(established by the Planning Commission, Government of India) presented 4th
CIDC Vishwakarma Awards 2012 to six artisans of
Samalkot, Raghunathpur,
·
Information Technology Group of EPC Division was
awarded the Supply Chain Automation - EDGE (Enterprises Driving Growth and
Excellence using IT) award at INTEROP IT Conference by leading IT magazine
Information Week for the logistics automation innovation for material tracking
from Shanghai to Sasan and Samalkot sites for the entire supply chain.
STATEMENT OF
FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE
30, 2012
(Rs. In Millions)
|
Particulars |
|
Quarter Ended 30.06.2012 |
|
|
|
Unaudited |
|
|
|
|
|
a. Net Sales / Income from Electricity Business |
|
16383.300 |
|
b. Income From EPC and Contract Business |
|
17749.400 |
|
c. Other Operating Income |
|
340.100 |
|
Total
Operating Income |
|
34472.800 |
|
|
|
|
|
Expenditure |
|
|
|
a) Cost of Electrical Purchased |
|
6851.500 |
|
b) Cost of Fuel |
|
4172.800 |
|
c) Cost of Materials and Sub-contract Charge |
|
14718.000 |
|
d) Employee Cost |
|
2438.900 |
|
e) Depreciation |
|
1130.400 |
|
f) Other Expenditure |
|
1693.400 |
|
Total
Expenditure |
|
31005.000 |
|
|
|
|
|
Profit
From Operations before Other Income (net) and Interest |
|
3467.800 |
|
|
|
|
|
Other Income |
|
2586.200 |
|
|
|
|
|
Profit Before Interest |
|
6054.000 |
|
|
|
|
|
Interest and Finance Charges |
|
1901.800 |
|
|
|
|
|
Profit
from Ordinary Activities before Tax |
|
4152.200 |
|
|
|
|
|
Tax Expense |
|
882.000 |
|
|
|
|
|
Net
Profit after Tax |
|
3370.200 |
|
|
|
|
|
Paid-up Equity Share Capital (Face Value of 10/- Each) |
|
2630.300 |
|
|
|
|
|
Reserves Excluding Revaluation Reserve |
|
- |
|
|
|
|
|
Basic
and Diluted Earning Per Share (EPS) ()-Not Annualised |
|
|
|
a) Basic and diluted EPS before extraordinary items |
|
12.43 |
|
b) Basic and diluted EPS after extraordinary items |
|
12.43 |
|
|
|
|
|
Public
Shareholding |
|
|
|
-Number of Shares |
|
135363010 |
|
- Percentage of Shareholding |
|
100.00 |
|
|
|
|
|
Promoters
and Promoter Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- Number of Shares |
|
Nil |
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
|
Nil |
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
|
Nil |
|
|
|
|
|
b)
Non Encumbered |
|
|
|
- Number of Shares |
|
127626990 |
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
|
100.00 |
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
|
48.53 |
|
INVESTOR COMPLAINTS |
30.06.2012 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
28 |
|
Disposed if during the quarter |
28 |
|
Remaining unresolved the end of the quarter |
Nil |
SEGMENT WISE REVENUE RESULTS
AND CAPITAL EMPLOYED
( Rs. In Millions)
|
Particulars |
|
Quarter
Ended |
|
|
30.06.2012 |
|
|
|
Unaudited |
|
|
Segment Revenue |
|
|
|
- Electricity Business |
|
16572.900 |
|
-
EPC
And Contracts Business |
|
17899.900 |
|
Total |
|
34472.800 |
|
|
|
|
|
Less : Inter Segment Revenue |
|
- |
|
Net Sales / Income from
Operation |
|
|
|
|
|
|
|
Segment Results |
|
|
|
Profit before Tax and Interest from each Segment |
|
|
|
- Electricity Business |
|
1797.500 |
|
-
EPC
And Contracts Business |
|
1851.100 |
|
Total |
|
3648.600 |
|
- Finance costs |
|
(1901.800) |
|
- Interest Income |
|
1945.700 |
|
- Other Unallocable Income Net of expenditure |
|
459.700 |
|
Profit before Tax |
|
4152.200 |
|
|
|
|
|
Capital Employed |
|
|
|
- Electricity Business |
|
72777.300 |
|
-
EPC
And Contracts Business |
|
37125.100 |
|
- Unallocable Assets (net) |
|
78223.300 |
|
|
|
188125.700 |
|
Total |
|
|
1. The final determination in the matter of Standby Charges payable for the
years 1998-99 to 2003-04 to The Tata Power Company Limited (TPC) is pending
before the Supreme Court for final hearing. The Company has so far fully
accounted the liability of Rs. 5156.000 Millions as determined earlier by
Maharashtra Electricity Regulatory Commission (MERC).
2. The final determination in respect of the claim by TPC of Rs.
3238.700 Millions, along with interest based on the Orders passed by MERC /
Appellate Tribunal for Electricity (ATE) towards difference in energy charge
and minimum off take charges for energy supplied by TPC at 220 kV
interconnection is pending before Supreme Court for final hearing. The Company
has complied with the interim order direction of depositing Rs. 250.000
Millions with the Registrar of Supreme Court and providing a Bank Guarantee of
Rs. 99.800 Millions
3. Pursuant to the Scheme of Amalgamation of Reliance Infra projects
Limited sanctioned by the Hon’ble High Court of Judicature at Bombay vide its
order dated March 30, 2011,derivative losses / gains for the year debited /
credited to Statement of Profit and Loss may be withdrawn from / transferred to
General Reserve. The loss for the quarter ended June 30, 2012 arising from
derivative contracts is Rs. 511.700 Millions The Company has decided to give
impact of the said derivative loss and its corresponding adjustment in terms of
the Scheme by withdrawal from General Reserve in Statement of Profit and Loss
at the year end.
4. The Company has opted for amortising the foreign exchange fluctuation
gain / (loss) on the long term foreign currency monetary items over the balance
life of such items. Accordingly, the Company has carried forward unamortised
portion of net gain of Rs.1950.000 Millions to “Foreign Currency Monetary Items
Translation Difference Account” as on June 30, 2012.
5. The Board of Directors of the Company in their meeting held on August
14, 2012 has approved the Scheme of
Amalgamation of wholly owned subsidiaries of the Company viz. Reliance
Bhavnagar Power Private Limited, Reliance Jamnagar Power Private Limited and
Reliance Infrastructure Engineers Private Limited with the Company.
6. During the quarter, the Company has disposed of its majority
shareholding in its subsidiary Delhi Airport Metro Express Private Limited.
7. After review by the Audit Committee, the Board of Directors of the
Company has approved the Standalone financial results at their meeting held on
August 14, 2012.The statutory auditors have carried out a limited review of the
financial results of the Company, as per listing agreement entered into with
the stock exchanges in
8. There were no exceptional and extraordinary items during the quarter
ended June 30, 2012.
9. Figures of the previous period / year have been regrouped /
reclassified wherever considered necessary
FIXED ASSETS
·
Softwares
·
Toll Collection Rights
·
·
·
Buildings and Roads
·
Railway Siding
·
Plant and Machinery
·
Distribution Systems
·
Furniture, Fixtures,
Computers and Office Equipments
·
Vehicles
·
Electrical Fittings and
Apparatus
·
Refrigerators and
Domestic Appliances
AS PER WEB SITE
DETAILS
MEDIA RELEASE:
RINFRA’S
·
·
estimony of Company’s commitment to maintain
highest level of security of Customer’s information
·
British Standards Institute (BSI) awarded
certification post rigorous audits
·
Accreditation valid till 2015
·
RInfra’s Metro business to undergo certification
process shortly
Mumbai, October 30, 2012: Reliance Infrastructure Limited (RInfra)
Special Purpose Vehicle (SPV) - PS Toll Road Pvt. Ltd., has been accredited
with ISO 27001 certification for its Pune-Satara Road Project. RInfra is the
first road company in
Global firm British Standards Institute (BSI) has awarded this
prestigious certification to RInfra after conducting stringent audits of
various IT Security Systems, established by the Company. The certification will
be valid till 2015.
Reliance Infrastructure Ltd. will soon be undergoing certification
process for its Metro rail business. Recently, RInfra’s power distribution
business was re-accredited with ISO 27001 certification, which was also the
first ever among Indian power utilities.
Commenting on this development, Mr. Sudhir Hoshing, CEO (Roads),
Reliance Infrastructure Limited, said, “We are pleased to receive this
prestigious ISO 27001 Certification for our
ISO 27001 is an Information Security Management System (ISMS) which is
the most widely recognized information security standard in the world. It
provides a robust model for implementing the principles and guidelines for
governing risk, security design and implementation, security management and
reassessment. Further, it also ensures the security of information, which is
the most valuable asset of any organization and is quite comprehensive in its
scope and strives to maintain privacy, reliability and availability of data to
all stakeholders. It helps organizations to better address its risks and
protect information.
Reliance
Infrastructure Limited
Reliance Infrastructure Ltd (RInfra) is the largest infrastructure
company developing projects, through various Special Purpose Vehicles, in
several high growth areas in Infrastructure sector i.e. Roads, Metro rail,
Airports, etc. The Company is also the leading utility company having presence
across the value chain of power, businesses i.e. Generation, Transmission,
Distribution, Engineering, Procurement and Construction (EPC) and Trading.
The Company is developing two metro rail projects in Mumbai and
operating Airport Metro Express in Delhi; awarded eleven road projects with
total length of 1,000 Kms; operate and maintain five airports in Maharashtra
and developing 2 cement plants of 5 Million tons each in Maharashtra and Madhya
Pradesh.
RInfra generates 940 MW of power through its five power stations;
distributes power to 5.700 Millions consumers in Mumbai and
RInfra also provides Engineering, Procurement and Construction (EPC) for
developing power and road projects and currently have an order book of
Rs.155600.000 Millions
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.54.60 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
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 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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.