MIRA
INFORM REPORT
|
Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAMKY INFRASTRUCTURE LIMITED (W.e.f. 24.06.2003) |
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Formerly Known
As : |
RAMKY INFRASTRUCTURE PRIVATE LIMITED (w.e.f. 23.06.2003) RAMKY ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
6-3-1089/G, 10 and 11, 1st Floor, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
13.04.1994 |
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Com. Reg. No.: |
01-017356 |
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Capital Investment
/ Paid-up Capital : |
Rs.571.978
Millions |
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CIN No.: [Company Identification
No.] |
U74210AP1994PLC017356 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDR01286F |
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PAN No.: [Permanent Account No.] |
AAACR9627B |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Subject is an Integrated Construction, Infrastructure
Development and Management Company. |
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No. of Employees
: |
2916 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 39000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial
positions of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
LONG TERM RATING : CRISIL A+ |
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Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation it carry low credit risk. |
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Date |
April, 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 : |
6-3-1089/G, 10 and 11, 1st Floor, Gulmohar Avenue,
Rajbhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India |
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Tel. No.: |
91-40-23310091 (30 Lines) |
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Fax No.: |
91-40-23302353 |
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E-Mail : |
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Website : |
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Regional Offices : |
Located at: · Hyderabad · Ahmedabad · Kolkata · New Delhi · Bhopal |
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Overseas Offices : |
Located at: · Sharjah · Gabon, West Africa. · Peru |
DIRECTORS
(AS ON 31.03.2012)
|
Name : |
Mr. Alla Ayodhya Rami Reddy |
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Designation : |
Executive Chairman |
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Date of Birth/Age : |
49 Years |
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Qualification : |
M.E. (Civil) |
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Experience : |
30 Years |
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Name : |
Mr. Y R Nagaraja |
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Designation : |
Managing Director |
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Date of Birth/Age : |
50 Years |
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Qualification : |
B.E. (Civil) |
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Experience : |
30 Years |
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Name : |
Mr. Rajiv Maliwal |
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Designation : |
Non-Executive Director |
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Name : |
Dr. Archana Niranjan Hingorani |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mr. V. Murahari Reddy |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mr. Kamlesh Shivji Vikamsey |
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Designation : |
Non-Executive Independent Director |
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Name : |
Mr. V. Harish Kumar |
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Designation : |
Non-Executive Independent Director |
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Name : |
Dr. A. G. Ravindranath Reddy |
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Designation : |
Non-Executive Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. V. Phanibhushan |
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Designation : |
Company Secretary and Compliance
Officer |
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Name : |
Mr. R S Garg |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Shuvendu Sekhr Mohanty |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
59 Years |
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Qualification : |
B.E. (Mech.) |
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Experience : |
35 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2012)
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding
of Promoter and Promoter Group |
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38268785 |
66.91 |
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|
225000 |
0.39 |
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38493785 |
67.30 |
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Total
shareholding of Promoter and Promoter Group (A) |
38493785 |
67.30 |
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(B)
Public Shareholding |
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|
3219435 |
5.63 |
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|
648866 |
1.13 |
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|
289356 |
0.51 |
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|
446009 |
0.78 |
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|
4603666 |
8.05 |
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2622660 |
4.59 |
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|
2832300 |
4.95 |
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|
2215867 |
3.87 |
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6429513 |
11.24 |
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|
84210 |
0.15 |
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189457 |
0.33 |
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|
210 |
0.00 |
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|
840 |
0.00 |
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167805 |
0.29 |
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|
5986991 |
10.47 |
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|
14100340 |
24.65 |
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Total
Public shareholding (B) |
18704006 |
32.70 |
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Total
(A)+(B) |
57197791 |
100.00 |
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(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
-- |
-- |
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|
-- |
-- |
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|
-- |
-- |
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|
-- |
-- |
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Total
(A)+(B)+(C) |
57197791 |
-- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs.0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Subject is an Integrated Construction, Infrastructure
Development and Management Company. |
GENERAL INFORMATION
|
No. of Employees : |
2916 (Approximately) |
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Bankers : |
· State Bank of India · State Bank of Hyderabad · Axis Bank Limited · Yes Bank Limited · ING Vysya Bank Limited · Standard Chartered Bank · ICICI Bank Limited · IndusInd Bank Limited · IDBI Bank Limited · Punjab National Bank |
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Facilities : |
Secured borrowings: a. Term loan from bank amounting to Rs.750.000 Millions (previous year Nil)
are secured by way of residual charge over moveable fixed and current assets (both
present and future) ranking subsequent to prior charge created in favour of
other lenders and first and exclusive ranking charge over all the receivables
both present and future arising out of debt infused in the infrastructure
project companies and by way of first and exclusive ranking charge over Debt
Service Reserve Account (DSRA). This loan is repayable in 24 monthly
instalments starting at the end of 15 months from the first draw down date
(i.e. 8 February 2012) along with interest of 12.75% p.a. payable on monthly
basis. b. Term loan from bank amounting to Rs.450.000 Millions (previous year Rs.550.000 Millions) are secured by
pari-passu charge on the entire
project specific current assets. These loans are repayable on 25 May
2012 (previous year: 15 December 2011) along with interest of 11.75% p.a.
payable on monthly basis. c. Term loan from bank amounting to Nil (previous year Rs.50.000 Millions) are secured by way
of post-dated cheques given by the Company. Loan was repaid by the on 2
February 2012 along with interest of 11.50% p.a. payable on monthly basis. d. Equipment and vehicle loans from banks amounting to Rs.367.500 Millions (previous year: Rs.478.200 Millions) and from others
amounting to Rs.953.500
Millions (previous year: Rs.862.800 Millions) are secured by way of hypothecation of
the respective equipment/ vehicles. These loans are repayable in monthly
payment of equated monthly instalments beginning along the month
subsequent to the loan along with
interest in the range of 7.05% p.a. to 14.20% p.a. and 6.55% p.a. to 12.15%
p.a. against loans taken from banks and others respectively. e. Cash credits from banks from banks amounting to Rs.2422.200 Millions (previous year: Rs.2672.600 Millions) and working
capital loans from banks amounting to Rs.4092.500 Millions (previous year Rs.1790.000 Millions) are secured by way
of: (i) first pari-passu charge on the current assets of the
Company namely raw materials, contract work-in-progress, bills receivable and
book debts and all other movables both present and future of the Company
along with other working capital lenders. (ii) first charge on the entire unencumbered fixed assets
of the company ranking pari-passu basis to all the working capital lenders
and (iii) loans during the previous year were also secured by
way of personal guarantees of Chairman of the Company and Managing Director
of the Company. Cash credits are repayable on demand along with interest in
the range of 12.50% p.a. to 14.45% p.a. (previous year: 13.25% p.a. to 14.45%
p.a.) payable on monthly basis. Working capital loans are repayable within 90
to 180 days from the date of drawdown along with the interest in the range of
11.75% p.a. to 12.50% p.a. (previous year: 10.65% p.a. to 13% p.a.) payable
on monthly basis. f. Working capital loan from bank amounting to Rs.250.000 Millions (previous year: Nil)
are secured by way of post-dated cheques submitted by the Company. Loan is
repayable on 2 June 2012 along with the interest of 12.50% p.a. g. Buyers credit from banks amounting to Rs.246.300 Millions (previous year: Nil)
are secured by way of first pari-passu charge on the current assets of the
Company namely raw materials, contract work-in-progress, bills receivable and
book debts and all other movables both present and future of the Company and
exclusive charge on the capital equipment imported with loan proceeds. Buyers
credit are obtained on short-term basis and repayable within 360 days from
the date of drawdown along with the interest in the range of 1.94% p.a. to
3.30% p.a. Unsecured borrowings: Unsecured loan from corporate was
repaid on 30 August 2011 and interest rate applicable was 14% p.a. |
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Banking
Relations : |
-- |
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Joint Statutory Auditors 1 : |
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Name : |
Visweswara Rao and Associates Chartered Accountants |
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Address : |
'SRI' Plot No.512A1, Road No.31, Jubilee Hills, Hyderabad
– 500033, Andhra Pradesh, India |
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Joint Statutory Auditors 2
: |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Reliance Humsafar, IV Floor, Banjara Hills, Road No.11,
Hyderabad – 500034, Andhra Pradesh,
India |
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Internal Auditors : |
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|
Name : |
K.P. Rao and Associates Chartered Accountants |
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Address : |
7-1-59/4 and 8, Ameerpet, Hyderabad - 500 016, Andhra
Pradesh, India |
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Subsidiaries and
step-down subsidiary : |
· Ramky Pharma City (India) Limited · MDDA-Ramky IS Bus Terminal Limited · Ramky Food Park (Chattisgarh) Limited · Naya Raipur Gems and Jewellery SEZ Limited · Ramky Herbal and Medicinal Park (Chattisgarh) Limited · Ramky - MIDC Agro Processing Park Limited · Ramky Engineering and Consulting Services (FZC) · Gwalior Bypass Project Limited · Ramky Elsamex Hyderabad Ring Road Limited · Ramky Towers Limited · Ramky Enclave Limited · Srinagar Banihal Expressway Limited · Ramky Multi Product Industrial Park Limited · Ramky Food Park (Karnataka) Limited · Sehore Kosmi Tollways Limited · Agra Etawah Tollways Limited · Hospet Chitradurga Tollways Limited · Frank Lloyd Tech Management Services Limited ·
Ramky Infrastructure Sociedad Anonima Cerradda |
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Joint controlled entities : |
· NAM Expressway Limited · Jorabat Shillong Expressway Limited |
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Associates : |
· Ramky Integrated Township Limited ·
JNPC
Pharma Innovation Limited |
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Related parties : |
· Ramky Enviro Engineers Limited · Ramky Estates and Farms Limited · Mumbai Waste Management Limited · Ramky Finance and Investment Private Limited · SembRamky Environmental Management Private Limited · Ramky Global Solutions Private Limited · Tamil Nadu Waste Management Limited · West Bengal Waste Management Limited · Ramky Energy and Environment Limited · RVAC Facilities Management (India) Limited · Ramky Villas Limited · Ramky Advisory Services Limited · Delhi MSW Solutions Limited · Smilax Laboratories Limited · Ramky Foundation · NR Environmental Engineers INC · Ramky Academy of Culture and Education · Dakshayani Academy · Hyderabad Integrated MSW Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Share |
Rs.10/- each |
Rs.700.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
57197791 |
Equity Share |
Rs.10/- each |
Rs.571.978
Millions |
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NOTE
31)
Reconciliation of the shares
outstanding at the beginning and at the end of the reporting period:
|
Particulars |
As
at 31 March 2012 |
|
Equity Shares: |
|
|
(a) Number of shares: |
|
|
Shares outstanding at the beginning of the year |
57,197,791 |
|
Add: Issued and allotted during the year |
-- |
|
Shares outstanding at the end of the year |
57,197,791 |
|
(b) Share capital: (Rs. In Millions) |
|
|
Share capital outstanding at the beginning of the year |
572.000 |
|
Add: Share capital issued and allotted during the year |
-- |
|
Share capital outstanding at the end of the year |
572.000 |
ii) Rights, preferences and restrictions attached to the
equity shares:
(a)
The Company has only one class of equity shares having par value of Rs.10 each.
Each shareholder is eligible for one vote per share held.
(b)
The dividend proposed by the Board of Directors is subject to the approval of
the shareholders in the ensuing general meeting.
© In
the event of liquidation of the Company, the holders of equity shares will be
entitled to receive 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 equity shareholders.
iii) The details of shareholders holding more than 5%
shares in the Company:
|
Particulars |
As
at 31 March 2012 |
|
Alla Ayodhya Rami Reddy: |
|
|
Number of equity shares |
34,295,425 |
|
% of holding |
59.96% |
|
|
|
|
SA1 Holding Infrastructure Company Private Limited: |
|
|
Number of equity shares |
4,165,884 |
|
% of holding |
7.28% |
iv) The Company had
issued 41,183,345 equity shares of Rs. 10 each during the financial year 2007-08,
as fully paid bonus shares by way of apitalization of securities premium
amount.
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 |
572.000 |
572.000 |
494.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9099.100 |
8318.000 |
3768.400 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9671.100 |
8890.000 |
4262.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8559.400 |
5345.700 |
4739.000 |
|
|
2] Unsecured Loans |
0.000 |
319.800 |
0.000 |
|
|
TOTAL BORROWING |
8559.4 |
5665.500 |
4739.000 |
|
|
DEFERRED TAX LIABILITIES |
56.800 |
31.500 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18287.300 |
14587.000 |
9001.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4120.700 |
3344.200 |
1351.600 |
|
|
Capital work-in-progress |
0.000 |
32.600 |
34.600 |
|
|
Other non-current assets |
204.700 |
272.300 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
3585.500 |
2141.000 |
601.300 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
6.700 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6976.300
|
3613.900
|
3308.700 |
|
|
Sundry Debtors |
17047.000
|
14953.900
|
5744.000 |
|
|
Cash & Bank Balances |
729.400
|
998.600
|
1384.100 |
|
|
Other Current Assets |
43.100
|
60.800
|
1821.400 |
|
|
Loans & Advances |
6318.600
|
5704.200
|
3812.300 |
|
Total
Current Assets |
31114.400
|
25331.400
|
16070.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10099.600
|
7515.500
|
3740.700 |
|
|
Other Current Liabilities |
9770.900
|
8673.500
|
5320.000 |
|
|
Provisions |
867.500
|
345.500
|
2.400 |
|
Total
Current Liabilities |
20738.000
|
16534.500
|
9063.100 |
|
|
Net Current Assets |
10376.400
|
8796.900
|
7007.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18287.300 |
14587.000 |
9001.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
\31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
30942.500 |
27305.200 |
18612.500 |
|
|
|
Other Income |
375.000 |
139.500 |
70.000 |
|
|
|
TOTAL (A) |
31317.500 |
27444.700 |
18682.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Change in contract work-in-progress |
(2833.500) |
211.500 |
|
|
|
|
Contract expenses |
28196.100 |
22700.400 |
|
|
|
|
Employee benefits expense |
1261.500 |
1065.500 |
|
|
|
|
Other expenses |
1091.400 |
464.000 |
|
|
|
|
TOTAL (B) |
27715.500 |
24441.400 |
16666.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3602.000 |
3003.300 |
2016.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1177.100 |
688.900 |
626.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2424.900 |
2314.400 |
1389.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
290.900 |
192.700 |
104.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2134.000 |
2121.700 |
1284.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
697.200 |
548.100 |
257.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1436.800 |
1573.600 |
1027.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4036.700 |
2962.300 |
1934.800 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR TAX ON EARLIER YEARS AND EXCESS DIVIDEND TAX
WRITTEN BACK |
655.700 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
200.000 |
0.000 |
|
|
|
Dividend |
0.000 |
257.400 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
41.800 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4817.800
|
4036.700 |
296
2.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Contract revenues |
307.900 |
305.400 |
NA |
|
|
TOTAL EARNINGS |
307.900 |
305.400 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
26.200 |
30.800 |
0.000 |
|
|
|
Plant and Machinery |
203.100 |
542.500 |
0.000 |
|
|
TOTAL IMPORTS |
229.300 |
573.300 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.12 |
29.57 |
20.79 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2012 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
6691.750 |
|
Total Expenditure |
|
|
5891.260 |
|
PBIDT (Excl OI) |
|
|
800.490 |
|
Other Income |
|
|
56.170 |
|
Operating Profit |
|
|
856.660 |
|
Interest |
|
|
390.700 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
465.960 |
|
Depreciation |
|
|
79.310 |
|
Profit Before Tax |
|
|
386.650 |
|
Tax |
|
|
134.940 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
251.710 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
251.710 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.59
|
5.73
|
5.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.90
|
7.77
|
6.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.06
|
7.40
|
7.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.24
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.03
|
2.50
|
3.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.53
|
1.77 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
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) |
No |
|
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 |
-- |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
REVIEW OF PERFORMANCE
The Company had a robust year with the execution of
several infrastructural projects while experiencing a good order inflow. The overall
performance has been commensurate with the expectations set for the year.
Members will notice that the
revenues climbed by 13.32 % to RS.30942.500 Millions from RS.27305.200
Millions, while the net profit before tax increased to RS.2134.000 Millions, a
growth of 0.58% from RS.2121.700 Millions achieved in the previous year.
The profit after tax for the year
was RS.1436.800 Millions, a decrease of 8.69% from RS.1573.600 Millions
reported in the previous year. The earnings per share was RS.25.12 as compared
to RS.29.57 in 2010-11.
During the year, the Company was
awarded projects totalling to RS.58880.000 Millions across all verticals, with
the result, the order book at year end stood at a healthy RS.137030.000
Millions. The significant increase of 25 % over the previous year end order
book balance of RS.109980.000 Millions is a testimony to the strength of the
company's brand, technical competence and execution capabilities.
OUTLOOK
Ramky Infra is striving to secure
high value contracts, so as to increase the focus and improve on the operating
margins. The Company is also working towards generating revenues from
Public-Private-Partnership segments and is consciously making efforts to win
new projects with in-built clause for price escalation, to protect the margins
and mitigate the impact of inflation.
The strong order book position
coupled with thrust given by the government for infrastructure sector augurs
well for Company, being one of the leading companies in infrastructure
development. Also, the private and public sector unit projects shall equally
quoted / bided to the government projects to maintain the equilibrium in the
flow of funds.
Also, the Company is committed to
undertake new responsibilities and challenges in terms of both nationally and
internationally by virtue of its strengthened business model. They are poised
enough of leveraging global opportunities, while adhering to their esteemed
mission, vision and values.
The Company has identified new
geographies globally and is focusing its energies to develop business. In
addition, there are continuous efforts at improvising efficiencies and
delivering excellence in project execution
INFRASTRUCTURE
INDUSTRY - AN OVERVIEW
The Economic Survey 2011-2012 has
thrown emphasis for Investments in infrastructure to the tune of over US $ 1
trillion during the Twelfth Plan 2012-17. The Planning Commission also
projected that at least 50% of this investment will come from the private
sector as against the 36% anticipated in the Eleventh Plan.
Inadequate infrastructure was
recognised in the Eleventh Plan as a major constraint on rapid growth. The Plan
had, therefore, emphasized the need for massive expansion in investment in
infrastructure which was a combination of public and private investments.
Substantial progress has been made in this respect. The pace of investment has
been particularly buoyant in some sectors, notably telecommunications, oil and
gas pipelines, while falling short of targets in electricity, railways, roads
and ports. Efforts to attract private investment into infrastructure through
the PPP route have met with considerable success, not only at the level of the
Central Government, but also at the level of the individual States. A large
number of PPP projects have taken off, and many of them are currently
operational in both the Centre and the States.
Twelfth Five Year Plan envisages
investment in Infrastructure (defined as electricity, roads and bridges,
telecommunications, railways, irrigation, water supply and sanitation, ports,
airports, storage and oil-gas pipelines) will need to increase from about 8.0
per cent of GDP in the base year (2011-12) of the Plan to about 10.0 per cent
of GDP in 2016-17. The total investment in infrastructure would have to be over
$ 1 trillion during the Twelfth Plan period. Financing this level of investment
will require larger outlays from the public sector, but this has to be coupled
with a more than proportional rise in private investment.
With the consistent attention being
given to infrastructure development and the increasing demand of housing in the
country, the Construction sector has been growing at a compounded annual growth
rate (CAGR) of about 11.1 per cent over the last eight years. The Construction
sector accounts for around 9.0 per cent of GDP today.
The Construction sector is critical
for enhancing the productive capacity of the economy. It has strong linkages
with various industries such as cement, steel, chemicals, paints, tiles,
fixtures and fittings. While in the short term it serves as a demand booster,
in the long term it contributes towards boosting the infrastructure capacity.
This is also evident from the fact that infrastructure construction accounts
for the maximum share (54.0 per cent) of construction activities. Industrial
expansion contributes to 36.0 percent of overall construction activity, and
residential and commercial 5.0 per cent each. As India embarks upon an
accelerated drive for infrastructure creation, it would be critical to enhance
the capacity and capability of the construction sector.
COMPANY PERSPECTIVE
Ramky Infra
operates through the following 3 principal business modes:
i.
Engineering, Procurement and
Construction (EPC) Business which is operated by the Company,
ii.
Developer Business which is operated
through 17 Subsidiaries and 4 Associates. A majority of the development
projects are Public Private Partnerships (PPP) and are operated by separate
Special Purpose Vehicles (SPVs) promoted by the Company and other Companies/undertakings
and
iii.
International Business which is
operated through 100% wholly owned subsidiary 'Ramky Engineering and Consulting
Services', located in Sharjah, UAE.
EPC BUSINESS
The Company
operates the EPC business in the following sectors:
i.
Water and Waste Water projects such
as water treatment plants, water transmission and distribution systems,
elevated and ground level service reservoirs, sewage treatment plants, common
effluent treatment plants, tertiary treatment plants, underground drainage systems
and lake restorations;
ii.
Roads and Bridges projects such as
expressways, highways, bridges and flyovers, rural roads, terminals and
dedicated service corridors;
iii.
Building Construction, which
includes commercial, residential, public, institutional and corporate
buildings, mass housing, Highrise, Healthcare Infrastructure, Integrated
Townships projects and related infrastructure an facilities such as hospitals
and shopping malls; and
iv.
Irrigation projects such as
cross-drainage works, barrages, lift irrigation projects, canals, feeder
channels;
v.
Industrial Construction projects
such as aluminium, textile, Pharmaceutical, Power, Petroleum, Industrial Parks,
SEZs and related works;
vi.
Power Transmission and Distribution
projects such as electricity transmission networks, substations, feeder lines
and low and high tension distribution lines.
Ramky Infra
has diversified its business portfolio which helps us in mitigate risk of
slowdown in any one particular segment. The Company is also exploring to enter
into more verticals which in turn will mitigate the risk with a wider business
mix. Over the years core competence has been further developed by the
engineering, planning and project execution skills.
The Company is
recognised for its well organised and timely completion of projects with
quality consciousness. Ramky Infra is exploring international business
opportunities to scale up its business in the years to come.
Water and Waste Water Sector:
At Ramky,
they realize the importance of water in the present times. Their design experts
constantly innovate and focus on Water / Waste Water treatment and Distribution
to offer reliable and complete water management solutions. A pioneer in the
environ-friendly sector and has been a part of key projects till date.
Some of the significant new projects
currently under execution in the Water and Waste Water Sector are given below:
1.
Construction of Cluster distribution
network, IEC activities, pump houses, clear water reservoirs, overhead service
reserviors,33KV switchyards and village distribution network under Package - II
of Nagaur Lift project and O and M of complete system for 10 years on Turnkey
Basis at a Project of RS.1570.000 Millions.
2.
Construction of 130 MLD Water Supply
Scheme at left Bank of River Chambal near Sakatpura at Kota and other related
associated / allied appurtenant works at Kota on Design, Build and Operate
Basis at a Project Cost of RS.1500.000 Millions.
3.
RWSS RGLC RD 177.5
Tinwan-Mathantya-Osian-Baori-Bhopalgarh Package-V -Development of
Infrastructure to supply water from Baori HW to 66 villages of Tehsil
Bhopalgarh District, Jodhpur at a Project Cost of RS.1330.000 Millions.
4.
Construction of 108 MLD capacity STP
@ Chavulamadhum, laying of pumping mains and construction of Pumping stations,
including all related EandM works, Visakhapatnam at a Project Cost of
RS.1310.000 Millions.
Roads and Bridges Sector:
At Ramky, they know the vitality of
roads for the development of a nation. Their Engineers ideate constantly to
come up with the possible means of connectivity to make sure that India is
powered with state-of-the-art road infrastructure. With a host of prestigious
projects underway, the company accelerates towards fast-track progress.
Some of the significant new projects
currently under execution in the Roads and Bridges Sector are given below:
1.
Six Laning of Agra - Etawah Bypass
Section from Km 199.600 to Km 323.525 of NH - 2 in the State of Uttar Pradesh
under NHDP Phase V to be executed on BOT (Toll) Basis on DBFOT Pattern at a
Project Cost of RS.12070.000 Millions.
2.
Four Laning of Hospet - Chitradurga
section of NH - 13 from km.299.000 to km.418.600 in the state of Karnataka
under National Highways Development Project (NHDP) Phase III on Design, Build, Finance,
Operate and Transfer (DBFOT/BOT) basis in BOT (Toll) at a Project Cost of
RS.10340.000 Millions.
3.
Designing, Engineering, Build,
Procurement, Construction, Development, Operation and Maintenance and Transfer
of the Two-laning Sehore-Icchawar-Kosmi road section from Km 00.00 (near
Sehore) to Km 50.120 on state highway no.53 in the state of Madhya Pradesh on
DBFOT on toll and Annuity basis at a Project Cost of RS.960.000 Millions.
Buildings Sector:
Their construction experts walk in
step with the emerging global design trends and construction techniques to
ensure progress is built brick by brick. With expertise in building projects
across various categories, they are at the forefront of the construction space.
Some of the significant new projects
currently under execution in the Buildings Sector are given below:
1.
Construction of Low Cost Housing for
Urban Poor/Slum Rehabilitation at Bawana - III (Pooth Khurd) Delhi Comprising
of 6480 EWS Houses in (G+4) Phase I at a Project Cost of RS.2530.000 Millions.
2.
Construction of Civil works for
Residential project PURVA WINDERMERE at Medavakkam/Pallikaranai Villages,
Chennai at a Project Cost of RS.2070.000 Millions.
Irrigation Sector:
Their water management experts
invest efforts in channelizing the available water sources to ensure that
prosperity reaches everyone. Over the years, they have been executing key
irrigation projects with established expertise in design, planning,
construction and maintenance of irrigation channels.
Some of the significant new projects
currently under execution in the Irrigation Sector are given below:
1.
Construction of RCB at Chamravattom
across Bharathapuzha for 978m with Shutters and approach road for 612m
including Mechanical and Electrical Works at a Project Cost of RS.1580.000
Millions.
2.
Reconstruction, Remodeling and
Improvement of embankment in Surdarbans and adjoining areas in the districts of
North and South 24-Parganas ,West Bengal damaged by severe cyclone 'Aila' at a
Project Cost of RS.1530.000 Millions.
Industrial Construction Sector:
Their organizational experts
constantly strive to improve and gain expertise procedures to deliver
excellence to a cross-section of Industries. The company has specialized in
delivering infrastructure and related services to empower industrial sector.
Some of the significant new projects
currently under execution in the Industrial Construction Sector are given
below:
1.
Providing Infrastructure Facilities
i.e. road network water supply waste water collection, storm water drainage
electrification and street lighting and all other works contingent thereto on
turnkey basis at Industrial Model Township (IMT) Faridabad (Haryana) at a
Project Cost of RS.3110.000 Millions.
2.
Construction of Concrete Weir,
Spillway and Appurtenant works, River Diversion, HRT Intake, Head Race Tunnel,
Open Channel, Fore Bay, Civil works of Penstock, Switchyard, Power House and
Tailrace, Infrastructure works including Service/ Access Road and all Hydro
Mechanical (HM ) works of Mander-1 and Mander-II Small H.E. Project ,
Chhattisgarh at a Project Cost of RS.1880.000 Millions.
3.
SG Area Balance Civil Works Package
for Barh STPP Stage -1(3X660 MW) at a Project Cost of RS.1090.000 Millions.
4.
Construction General Civil work for
Coal Handling plant, Workshop, Roads and Drains and Boundary wall for mine area
for 6 X 660 MW Sasan Ultra Mega Power Project, Sasan, Madhya Pradesh at A
Project Cost of RS. 1090.00 Millions.
Power Transmission and Distribution Sector:
At Ramky,
they understand the need to make power available and accessible to better the
quality of lives. Their project experts constantly derive sources of power to
make sure that every household experiences its share of light, the Company is
focusing on strengthening the rural power supply system.
Some of the significant new projects
currently under execution in the Power Transmission and Distribution Sector are
given below:
1.
Electrification works in Seoni and
Barghat Blocks of Seoni District of Madhya Pradesh State (Package SNI - 01)
under RGGVY Scheme at a Project Cost of RS. 1460.000 Millions.
2.
Supply of materials ,survey
installation, testing, and commissioning of 11KV Feeder Separation program for
separation of non-agricultural and agricultural consumers, replacement of bare
LT line with AB cable and meterisation of unmetered consumers in rural areas of
MPPKVVCL, Jabalpur(Lot-XI) at a Project Cost of RS. 630.000 Millions.
3.
Supply of materials, survey,
installation, testing, and commissioning of New 33/11 KV S/s, Augmentation of
capacity of Power Transformer and providing Addl. Power Transformer in existing
33/11 KV S/s with extension of 33 KV and 11 KV Bay and Annual Maintenance (for
five year) in Ujjain City, under Ujjain Region of MPPKVVCL, Indore on Turnkey
basis - Erection Portion at a Project Cost of RS. 840.000 Millions.
DEVELOPER BUSINESS
The Company
conducts its business through subsidiaries/special purpose vehicles/joint
ventures/associates formed for the development of PPP projects. A brief
overview of the SPVs/ subsidiaries is given below:
Ramky Pharma City (India) Limited (RPCIL)
This SPV has
been formed for developing the Jawaharlal Nehru Pharma City Industrial Park at
Parawada, Visakhapatnam. This is an integrated industrial park aimed at bulk
drug manufacturers, pharmaceuticals companies and fine chemical manufacturers.
This is a
perpetual BOO project in a joint venture with Andhra Pradesh Industrial
Infrastructure Corporation, which owns 11% of RPCIL while Ramky Infra holds 51%
stake. The SPV has reported revenues of RS. 1087.909 Millions for the Financial
Year 2011-12 as compared to RS. 1057.598 Millions in the Previous Year. Net
profit for the year is RS. 240.922 Millions, as compared to RS. 421.414
Millions earned in the Previous Year.
MDDA-Ramky IS Bus Terminal Limited.
This SPV has been formed for developing inter-state
bus terminal and commercial mall at Dehradun. This is a BOT project in which
Ramky Infra holds 100% stake. The subsidiary has reported gross revenues of RS.
58.989 Millions for the Financial Year 2011-12 as compared to RS. 25.492 Millions in the
Previous Year. Net Loss for the Year is RS.5.639 Millions as compared to
RS.4.885 Millions reported in the Previous Year
Gwalior Bypass Project Limited
This SPV has been formed for
developing a 42 km road that will connect the NH-3 and NH-75 highways in Madhya
Pradesh. The road is being built on a BOT basis, with semi - annuity payments.
51% of this SPV is held by Ramky Infra. The construction work is in the final
stages of completion. The SPV has not reported any revenues for the Financial
Year 2011-12. The net loss for the year is RS.0.267 Million as compared to loss
of RS.0.207 Million for the Previous Year.
Ramky Elsamex Hyderabad Ring Road Limited
This SPV has been formed for design,
construction, development, finance, operation and maintenance of eight lane
access controlled expressway under Phase-IIA programme as an extension of
Phase-I of ORR to Hyderabad City, in the state of Andhra Pradesh, for the
package from Tukkuguda to Shamshabad from Km 121.00 to Km 133.63 on Build,
Operate and Transfer (BOT) (Annuity) Basis. Ramky Infra holds 74% in this SPV.
The construction work has been completed. The SPV has reported revenues of Rs
631.065 Millions as annuity and other income for the Financial Year 2011-12 as
compared to RS.532.541 Millions in the Previous Year. Net Loss for the year is
RS.8.907 Millions, as compared to profit of RS.18.936 Millions earned in the
Previous Year.
Ramky Towers Limited
This SPV has
been formed for developing an integrated residential and commercial project on
17.10 acres of land in Gachibowli, Hyderabad, Andhra Pradesh in line with the
contract executed with Andhra Pradesh Housing Board. Ramky Infra holds 51%
stake in this entity. This subsidiary has reported revenues of RS.944.890
Millions in the year as compare to
RS.1230.847 Millions in the Previous Year. The net profit for the year is of
RS.91.385 Millions as against of RS.65.397 Millions achieved in Previous Year.
Ramky Enclave Limited
This SPV has
been formed for developing an integrated housing project on 32.69 acres of land
at Warangal, Andhra Pradesh in line with the contract executed with Andhra
Pradesh Housing Board. Ramky Infra holds 89.01% stake in this entity. This
subsidiary has reported revenues of RS.125.257 Millions for 2011-12 as against
of RS.90.986 Millions in the Previous Year. The net loss for the year is
RS.9.756 Millions as against the net profit of RS.3.230 Millions in the
Previous Year.
Ramky Food Park (Chattisgarh) Limited
This SPV has been formed for
developing, designing, marketing, operating and maintaining the food processing
park in the district of Rajnandagaon, Chattisgarh on a BOT basis. Ramky Infra
holds 100% stake in this SPV. An Authorization Agreement has been entered into
with the Chattisgarh State Industrial Development Corporation. The business of
the Company is yet to commence. The SPV has reported other revenue of RS.0.123
Million for the Financial Year 2011-12 from interest income as compared to
RS.0.045 Million in the Previous Year. The net profit for the year is RS.0.064
Millions as compared to loss of RS.0.061 Million for the Previous Year.
Ramky Herbal and Medicinal Park (Chattisgarh) Limited
This SPV has
been formed for developing, designing, marketing, operating and maintaining the
herbal and medicinal park in the district of Dhamtari, Chattisgarh on a BOT
basis. Ramky Infra holds 100% stake in this SPV. An Authorization Agreement was
entered into with the Chattisgarh State Industrial Development Corporation.
Possession of land is yet to be handed over to the company for the development
and the business is yet to commence. The SPV has reported no revenues for the
Financial Year 2011-12 as compared to RS.0.002 lakhs in the Previous Year. The
net loss for the year is RS.0.024 Million as compared to loss of RS.0.096
Millions for the Previous Year.
Naya Raipur Gems and Jewellery SEZ Limited
This SPV has been formed for
developing, designing, marketing, operating and maintaining the gems and jewellery
park in Raipur District, Chattisgarh on a BOT basis. Ramky Infra holds 100%
stake in this SPV. An Authorization Agreement has been entered into with the
Chattisgarh State Industrial Development Corporation. The business of the
Company is yet to be started and this SPV has reported gross revenue of
RS.0.334 Millions for the Financial Year 2011-12 compared to RS.0.072 Millions
for the Previous Year. The net profit for the year is RS.0.032 Millions
compared to loss of RS.0.567 Millions for the Previous Year.
Ramky MIDC Agro Processing Park Limited
The SPV has been formed for
developing, designing, marketing, operating and maintaining the Agro processing
Park on a BOOT basis. Ramky Infra holds 100% stake in this SPV. An
Authorization Agreement was entered into with the Maharashtra Industrial
Development Corporation. The Company is yet to commence operations. The SPV has
reported gross revenue of RS.0.014 Million for the Financial Year 2011-12 as
compared to RS.0.012 Millions for the Previous Year towards interest income and
reported a net loss of RS.0.010 Millions for the current year and loss of
RS.0.185 Millions for the Previous Year.
Ramky Food Park (Karnataka) Limited
Ramky Food
Park (Karnataka) Limited was incorporated on December 22, 2010 for developing
Food park at Tumkur in Karnataka in accordance with the contract executed with
Karnataka State Government. The company is yet to start its business and has
not reported any income for the Financial Year 2011-12 and Previous Year. The
net loss of RS.0.028 Millions for this year as compared to RS.0.050 Millions
loss for Previous Year.
Ramky Multi Product Industrial Park Limited
Ramky Multi
Product Industrial Park Limited was incorporated on December 13, 2010 for
maintaining 'Multi Product Industrial park' to meet the requirements of various
industrial, manufacturing, service sectors. The Company is yet to start
business and the SPV reported gross income of RS.0.354 Million for the
Financial Year 2011 12 as compared to RS.0.054 Millions for the previou year.
The net loss for the current year is RS.0.337 Millions as compared to RS.0.126
Millions loss for the Previous Year.
Srinagar Banihal Expressway Limited
This special purpose vehicle was
incorporated with a view to Design, Build, Construction, Develop, operate and
Maintain so as to Rehabilitate, Strengthen and four laning of Srinagar Banihal
section of NH-1A from KM 187.00 to KM 189.350 (Banihal Bypass) and KM 220.700
to KM 286.110 and improvement of KM 187.000 to Km 220.700 (Existing 2 lane
Road) on DBFOT (Annuity ) basis in the state of Jammu and Kashmir. Ramky Infra
holds 74% in this SPV which is yet to start commercial operations and the SPV
reported other income of RS.8.054 Millions for the Financial Year 2011-12 as
compared to Nil for the Previous Year. The net profit for the current year is
RS.2.533 Millions as compared to RS.0.215 Million loss for the Previous Year.
Sehore Kosmi Tollways Limited
Sehore Kosmi Tollways Limited was
incorporated on September 2, 2011 for designing, engineering, Build, procurement,
Construction, Development, operation and Maintenance and transfer of the
Two-laning Sehore-Icchawar-Kosmi road section from Km 00.00 (near Sehore) to Km
50.120 on state highway no.53 in the state of Madhya Pradesh on DBFOT on toll
and Annuity basis. This SPV is 100% Subsidiary of the company. The Company is
yet to start its commercial operations and reported gross revenue of RS.0.507
Millions from interest income while the net loss was RS.0.610 Millions.
Hospet Chitradurga Tollways Limited
Hospet Chitradurga Tollways Limited
was incorporated on December 2011 to undertake and Carry the Business of Four
Laning of Hospet - Chitradurga Section of NH-13 from KM 299.000 to KM 418.600
in the State of Karnataka under National Highways Development Project Phase III
on Design, Build, Finance, Operate and Transfer (DBFOT/BOT) basis in BOT
(Toll). This SPV is wholly owned subsidiary of the company and is yet to start
its business and reported a net loss of RS.0.055 Million in 2011 - 12.
Agra Etawah Tollways Limited
Agra Etawah Tollways Limited was
incorporated on December 2011 to undertake and carry on Business of Six Laning
of Agra - Etawah Bypass section of NH-2 from KM 199.660 to KM 323.525 under
National Highways Development Project (NHDP) Phase V in the State of Uttar
Pradesh to be executed on BOT (Toll) on DBFOT pattern. This SPV is 100%
Subsidiary of the company and is yet to start its business and reported a net
loss of RS.0.054 Million in 2011 - 12.
Frank Lloyd Tech Management Services Limited
Frank Lloyd Tech Management Services
Limited was incorporated on November 10, 2010 to undertake and provide the
various management and information technology services. This Company was
originally incorporated as a Private Limited Company and was converted into Public
Limited Company on March 30, 2012. The company has acquired 76% Equity in this
Company on January 2, 2012. The Company has not reported any revenue and
reported a net loss of RS.0.121 Million during the Financial Year 2011 - 12.
ASSOCIATES/JOINT VENTURES
N.A.M.Expressway Limited
This special purpose vehicle was
incorporated with a view to undertake the business of designing, constructing,
operating and maintaining four lanes of the Narketpalli-Addanki-Medaramitla
Road (SH-2) from Km 0.00 to Km 212.50 in the State of Andhra Pradesh on DBFOT
(Toll) basis. Ramky Infra holds 50% stake in this entity. This company has
reported gross revenue of RS.12.514 Millions for the Financial Year 2011-12
compared to RS.29.161 Millions for the Previous Year. The net profit the year
is Rs.1.750 Millions compared to RS.2.594 Millions for the Previous Year.
Jorabat Shillong Expressway Limited
Jorabat Shillong Expressway Limited
was incorporated on June 18, 2010 to undertake the business of developing four
lanes of the Jorabat Shillong (Barapani) section of NH-40 from Km. 0.000 to Km
61.800 in Assam and Meghalaya on a "design, build, finance, operate and
transfer" basis under the Special Accelerated Road Development Programme
in North East Regions on a BOT (Annuity) Basis. Ramky Infra holds 50% stake in
this entity. The company has not reported any income and has reported a net
loss of RS.3.042 Millions against RS.6.677 Millions in the Previous Year.
Ramky Integrated Township Limited
Ramky Integrated Township Limited
was incorporated on December 4, 2007 for undertaking the business of developing
an integrated township project called Discovery City on 374.60 acres of land in
Srinagar village, Maheswaram mandal, Ranga Reddy District in Andhra Pradesh on
a BOO basis. Ramky Infra holds 29.19% stake in this entity. The business of the
Company is yet to be started and has reported gross revenue of RS.0.079 Million
from interest income for the Financial Year 2011-12 compared to RS.0.442
Millions for the Previous Year. The net loss for the year is Rs. 2.501 Millions
compared to RS.1.586 Millions for the Previous Year.
JNPC Pharma Innovation Limited
JNPC Pharma Innovation Limited was
incorporated on November 23, 2011 to carry on the business of and to set up
Research and Development facilities for intermediaries. In this SPV Ramky Infra
has 33% holding. This SPV is yet to start its business and reported gross
revenue of RS.0.006 Millions from interest Income and reported a net loss of
RS.0.067 Million in 2011-12.
INTERNATIONAL
BUSINESS:
Ramky Engineering and Consulting
Services (FZC), Sharjah, U.A.E
Ramky Infra holds 100% stake in this
subsidiary which is engaged in providing business consultancy services in the
field of engineering. This subsidiary has reported revenues of AED. 2021.48 lakhs for the
Financial Year 2011-12 as compared to AED 958.15 lakhs for the Previous Year.
The net profit for the year is AED 609.50 lakhs as compare to AED 209.95 lakhs
for the Previous Year.
OUTLOOK
Ramky Infra is striving to secure
high value contracts, so as to increase the focus and improve on the operating
margins. The Company is also working towards generating revenues from
Public-Private-Partnership segments and is consciously making efforts to win
new projects with in-built clause for price escalation, to protect the margins
and mitigate the impact of inflation.
The strong order book position
coupled with thrust given by the government for infrastructure sector augurs
well for Company, being one of the leading companies in infrastructure
development. Also, the private and public sector unit projects shall equally
quoted / bided to the government projects to maintain the equilibrium in the
flow of funds.
Also, the Company is committed to
undertake new responsibilities and challenges in terms of both nationally and
internationally by virtue of its strengthened business model. They are poised
enough of leveraging global opportunities, while adhering to their esteemed
mission, vision and values.
The Company has identified new
geographies globally and is focusing its energies to develop business. In
addition, there are continuous efforts at improvising efficiencies and
delivering excellence in project execution
Company overview
Ramky Infrastructure Limited (RIL) is an integrated construction,
infrastructure development and management company headquartered in Hyderabad,
India. The Company diversified in a range of construction and infrastructure
projects in various sectors such as water and waste water, transportation,
irrigation, industrial construction and parks (including SEZs), power
transmission and distribution, and residential, commercial and retail property.
A majority of the development projects of the Company are based on
Public-Private partnerships (PPP) and are operated by separate Special Purpose
Vehicles (SPV) promoted by RIL, joint venture partners and respective
Governments.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Contingent
liabilities |
|
|
|
1.
Guarantees issued by banks |
14464.900 |
11628.800 |
|
2.
Guarantees
issued by the Company on behalf of subsidiaries and jointly controlled
entities |
4482.300 |
4703.200 |
|
3.
Letters of credit outstanding |
850.900 |
540.600 |
|
|
|
|
|
|
|
|
|
Claims against the
Company not acknowledged as debts (including interest and penalty demanded)
in respect of: |
|
|
|
1.
Income tax matters |
0.000 |
661.600 |
|
2.
Indirect tax and other matters |
1407.600 |
1105.200 |
|
3.
Disputed claims from customers and vendors |
17.700 |
59.000 |
FIXED ASSETS
· Freehold land
· Buildings
· Plant and machinery
· Furniture and fixtures
· Office equipment
· Vehicles
· Computer Equipments
WEBSITE DETAILS:
OVERVIEW:
Subject is an integrated construction, infrastructure development
and management company in India. Since the commencement of its business in
1994, the Company has done a range of construction and infrastructure projects
in various sectors such as water and waste water, transportation, irrigation,
industrial construction and parks (including SEZs), power transmission and
distribution, and residential, commercial and retail property. Headquartered in
Hyderabad, Andhra Pradesh, RIL has five zonal offices and three regional
offices to manage its business operations throughout India and an office at
Sharjah in the United Arabic Emirates. The pan-India presence has enabled the
Company to service the growing infrastructure needs across the country.
Company is the flagship company of Ramky Group, a group of
affiliated companies doing a range of construction and infrastructure projects
in all the major sectors apart from providing services in waste management,
environmental consulting, finance and accounting, data management, indirect
procurement, real estate development, pharmaceuticals and emerging
technologies.
Company operates in two principal business segments: The
construction business operated directly by the Company; and the developer
business operated through 16 subsidiaries and three associates. A majority of
the development projects are based on public private partnerships and are
operated by separate special purpose vehicles promoted by Company, JV Partners
and respective governments. Company’s wholly owned subsidiary in the UAE, Ramky
Engineering and Consulting Services FZC, operates a small consultancy business
in areas such as infrastructure development, waste management, environment and
property development.
Company owns a large fleet of sophisticated construction
equipment, including: crushing plants, hot mix plants, wet mix plants, asphalt
batching plants, concrete batching plants, excavators, rock breakers, graders,
pavers, compactors, tower cranes, dozers, bar bending and cutting machines. The
Company’s workforce, as on 31 March 2011, consisted of 2429 full-time employees
on a stand alone basis. The workforce, machinery assets, financial net worth
and past execution capabilities enable the Company to undertake many
large-scale projects.
Company is ISO 9001:2008 and ISO 14001:2007, OHSAS 18001
certified for quality management systems, earned Management Systems and
Occupational Health and Safety Management Systems which the Company applies to
the design, development, engineering, procurement and construction of projects.
The Company has also received several awards, including the 2005 Best
Construction Award from the Government of Rajasthan, the 2005 Outstanding
Concrete Structure Award from the Indian Concrete Institute, the Best Project
Award 2007-08 for the Married Accommodation Project at Amritsar from Central
Public Works Department, Government of India, the Infrastructure Excellence
Award 2008 in the Urban Infrastructure Category from CNBC TV18 and Essar Steel,
the winner in Silver category of the prestigious Greentech Safety Award 2010,
the Water Digest’s Water Awards 2009-2010 in the category of Best Water
Conserver – Waste Water Management, the 11th Global Greentech Environment
Excellence Award 2010 for the 80 MLD Sewage Treatment Plant at Airoli, Mumbai,
the prestigious Greentech Safety Award 2011in the Gold category, the Water
Awards 2010-11 as a ‘Distinguished Water Company’ from the Water Digest Awards
and the Engineer of the Year Award in 2005 for Mr. A Ayodhya Rami Reddy, the
Chairman of the Ramky Group, from the Government of Andhra Pradesh and the
Institution of Engineers (India).
CONSTRUCTION
BUSINESS
Company operates
in construction business and undertakes projects in the following sectors:
· Water and waste water projects such as water treatment plants, water transmission and distribution systems, elevated reservoirs and ground level service reservoirs, sewage treatment plants, common effluent treatment plants, tertiary treatment plants, underground drainage systems and lake restorations (Water and Waste Water sector);
· Irrigation projects such as cross-drainage works, lift irrigation projects, dams and barrages (Irrigation sector);
· Industrial construction projects such as industrial parks, SEZs and related works (Industrial sector);
· Transportation projects such as expressways, highways, bridges, flyovers and dedicated service corridors (Transportation sector);
· Building construction which includes commercial, residential, public, institutional and corporate buildings, mass housing projects and related infrastructure and facilities such as hospitals and shopping malls (Building Construction sector); and
· Power transmission and distribution projects such as electricity transmission networks, substation feeder lines and low tension distribution lines (Power Transmission and Distribution sector).
HISTORY
AND MILESTONES
The Company was originally incorporated as Ramky Engineers
Private Limited on 13 April 1994 to undertake construction projects. In 1998, the
Company diversified into construction and began to undertake civil and
environmental EPC projects. The early construction projects were primarily
concentrated in the water and waste water sector. Subsequently, the Company
expanded into roads, buildings, irrigation and industrial construction. The
Company then decided to leverage opportunities in infrastructure construction
and on 23 June 2003, Ramky Engineers Private Limited was renamed as Ramky
Infrastructure Private Limited. On 24 June 2003 Ramky Infrastructure Private
Limited was converted into a public limited and became Ramky Infrastructure
Limited.
|
Calander Year |
Milestone / Achievement |
|
Apr
1994 |
Incorporation of the Company |
|
1995 |
· Expanded operations to include water and waste water segment projects. |
|
1997 |
· Expanded operations to include government works in addition to private contracting. |
|
1998 |
· Expanded operations to include segments like buildings, irrigation, roads and industrial structures. |
|
2002 |
· Expanded area of operations with projects in the states of Tamil Nadu, Karnataka, Kerala, Maharashtra, Gujarat, Rajasthan, Punjab, Delhi, Uttar Pradesh, West Bengal and Orissa. |
|
2003 |
· Name of the Company changed from ‘Ramky Engineers Private Limited’ to ‘Ramky Infrastructure Limited’. · Entered into a PPP for infrastructure projects through Deheradun’s Inter-State Bus Terminal, a private sector bus terminal on a BOT basis. · Amendment of Clause III of the MOA to enlarge the objects clause of the Company to include development of infrastructure facilities and waste management as the main objects. |
|
2004 |
· Signed concession agreement with Andhra Pradesh Industrial Infrastructure Limited for development of first Pharma City in India at Visakhapatnam, Andhra Pradesh on BOT basis under Public-Private Partnership scheme. · Incorporated Ramky Pharma City (India) Limited - a Special Purpose Vehicle to carry out the development of Pharma City |
|
2005 |
· Received the ‘Best Contractor’ award from the Government of Rajasthan. · Mr. Alla Ayodhya Rami Reddy, received the ‘Engineer of the Year Award – 2005’ from the Government of Andhra Pradesh and the Institution of Engineers (India). · Received the Indian Concrete Institute’s ‘2005 Outstanding Concrete Structure Award’ for Gandhi Medical College and Hospital Complex in Hyderabad. · Commenced construction of one of the Asia’s largest sewage treatment plants (172 MLD) with uplift an aerobic sludge blanket process, at Nagole Hyderabad. |
|
2006 |
· Entered into a share subscription and shareholders’ agreement with SAPE and Tara India Fund III for purchase of equity shares and securities of the Company. · Expanded operations to include power transmission projects. · Completed the construction of the Paryatak Bhavan Complex in Hyderabad, a venture with the Andhra Pradesh Tourism Development Corporation. |
|
2007 |
· Launched Ramky Elsamex Hyderabad Ring Road Limited an SPV for the development and construction of the Hyderabad Ring Road, a 150m wide road cum area development corridor with an eight lane controlled access expressway. · Commenced the developer business. |
|
2008 |
· Best Project Award for the Married Accommodation Project at Amritsar from Central Public Works Department, GOI. · Infrastructure Excellence Award 2008 in the Urban Infrastructure Category from CNBC TV18 and Essar Steel, |
|
2009 |
· Received an award for commendable water conserver-waste water management by the Water Digest. |
|
2010 |
· 80 MLD STP at Airoli, Navi Mumbai Project bagged the Essar Steel – Infrastructure Excellence Awards in the category of Urban Infrastructure given by CNBC TV18 and Essar Steel |
|
2011 |
· Received Water Digest Water Award under the Best water Conserver – Waste Water Management Category for 80 MLD Airoli Project in Mumbai. |
PRESS RELEASE:
RAMKY INFRA HAS EMERGED AS THE ‘FASTEST GROWING CONSTRUCTION COMPANY
(LARGE CATEGORY)
24.09.2012
Ramky Infrastructure Limited has emerged as the ‘Fastest Growing
Construction Company (Large Category) at the 10th Annual Construction World
Global Awards 2012”.
Construction World is the only
publication that conducts the process of ranking and awarding industry
participants since the past ten years, thereby fulfilling its mission to raise
the standards of excellence in the industry. The company's selection is a
prestigious accomplishment as the mathematical model drawn up covers financial
figures of companies in the industry, for the past six years. The winners that
emerge through this mathematical model are then vetted by a panel of industry
experts.
Ramky has won the award for its consistent performance all through and
has made a name for itself as a company that pushes infrastructural excellence
to a higher level every time. Company sources reveal that as a part of their
corporate philosophy, they are committed to build quality infrastructure for
the country that future generations will be proud of… and this award is an
affirmation of this philosophy.
Commenting on winning the award, Mr. Y. R. Nagaraja said, “Ramky Infra
has been continually growing in the construction industry since the day it has
stepped in. It’s my privilege to receive such a far-fetched prestigious award
for the second time on behalf of my organization. We shall continue our
tradition of innovation at every milestone in each endeavor. In this context,
the key to inform and transform our community into a powered team of professionals,
set to take on new challenges and emerge as sure winners, taking the company to
reach new heights.”
CONSOLIDATED Q1
FY12 NET SALES UP BY 14.03% AT RS. 8819.700 MILLIONS PAT UP BY 13.68% AT RS.
509.800 MILLIONS
21-08-2012
Editors Synopsis
Standalone Q1FY 12
Financials compared to Q1FY 11:
• Revenues increased by 11.01% to Rs. 6691.700 Millions;
• EBIDTA increased by 13.53 %to Rs. 856.700 Millions
• PAT decreased by 22.21% to Rs.251.700 Millions
• Earnings per share at Rs. 4.40
Consolidate Q1FY
12 Financials compared to Q1FY 11:
• Revenues increased by 14.03% to Rs. 8819.700 Millions;
• EBIDTA increased by 23.50% to Rs. 1617.200 Millions
• PAT increased by 13.68% to Rs.509.800 Millions
• Earnings per share at Rs. 8.91up by 13.68%
Ramky Infrastructure Limited, an integrated construction and
infrastructure development and management company, today reported net sales of
Rs. 6691.700 Millions for the quarter ended June 30, 2012, as compared to Rs.
6028.000 Millions in corresponding period of last fiscal year, registered a
growth of 11.01%. Net Profit for the quarter stood at Rs. 251.700 Millions, a
drop of 22.21 % as compared to Rs. 323.600 Millions posted in the same period
of last fiscal year. Earnings per share (EPS) stood at Rs. 4.40, as compared to
Rs. 5.66 in the corresponding period of last fiscal year As on date, the
company has the order book of Rs. 136240.000 Millions.
Update on
Consolidated Results:
Ramky Infrastructure Limited today reported net sales of Rs. 8819.700
Millions for the quarter ended June 30, 2012, as compared to Rs. 7734.800
Millions in corresponding period of last fiscal year, registered a growth of
14.03%.
Net Profit for the quarter stood at Rs. 509.800 Millions, a growth of
13.68% as compared to Rs. 448.400 Millions posted in the same period of last
fiscal year. Earnings per share (EPS) stood at Rs. 8.91 as compared to Rs. 7.84
in the corresponding period of last fiscal year.
Major Developments
this quarter:
Ramky Infrastructure Limited, the flagship of the Ramky Group has
recently bagged projects worth Rs 6404.400 Millions. The major projects
include: Pedana-Nuzvid- Vissannapet road worth Rs 1653.400 Millions, NVDA Nagod
Branch Canal Project worth Rs 1314.300 Millions, NVDA Rewa Branch Canal Project
worth Rs 1230.800 Millions and Construction of 2624 houses for urban poor in
Rajkot worth Rs 827.400 Millions Commenting on the results, Mr. Alla Ayodhya
Rami Reddy, Chairman, Ramky Group of Companies, said: “The Financial Results of
this quarter are quite encouraging. We have made it despite the turbulence in
the market, especially in the infrastructure sector. Given the convergence of
synergies we have shown in the past, I am quite confident of improving on with
our continued stress on quality manpower and best delivery mechanism.”
RAMKY INFRA TO
STEP UP PRESENCE IN WEST AFRICA
21.08.2012
Ramky Infrastructure Limited plans to expand presence in West Africa
following initial contract being taken up in Gabon where it is developing a
special economic zone.
The Chairman of Ramky Infra, Ayodhya Rami Reddy, told shareholders that
the company has forayed into West Africa through its subsidiary.
Addressing the company’s 18th AGM, he said, “we are stepping into
countries where opportunities have come up and where competitive pressures are
low. As a part of the company blueprint to become a multinational, we would
gradually increase geographical presence.”
The Chairman said high interest rates, rising inflation, depreciation of
Indian currency, coupled with global macroeconomics uncertainties resulted in
lower GDP growth this year at 6.5 per cent against 8.4 per cent last year.
The company order book has grown from Rs.109980.000 Millions last year
to Rs 137020.000 Millions this year.
Of this, roads and highway projects occupy a major share at 43.7 per
cent followed by 16.3 per cent in buildings and water, and 16 per cent coming
from irrigation followed by industrial and power segments.
In addition, the company has Rs 12520.000 Millions in pipeline, where it
has also been declared as L1 for projects worth Rs 103450.000 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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
set 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.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
65 |
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.