MIRA INFORM REPORT
|
Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE POWER LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.01.1995 |
|
|
|
|
Com. Reg. No.: |
11-084687 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28051.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40101MH1995PLC084687 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR07195G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the business of generation of power. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 644050000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance Anil Dhirubhai Ambani group a well known
industrial house in the country. It is a well established and a reputed company having good track
record. Financial position of the company appears to be sound. Directors are
reported to be experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A - = Non fund based limits |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
August 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1 = Commercial paper |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
August 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.
INFORMATION DECLINED
Management Non Co-operative. (Tel No.: 91-22-30373333/91-22-22842384)
LOCATIONS
|
Registered Office / Corporate Office : |
H Block, 1st Floor, |
|
Tel. No.: |
91-22-30386010/30373333/ 30385565 |
|
Fax No.: |
91-22-30376633/30385169 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Investor Service Centre : |
G Block, Ground Floor, |
|
Tel. No.: |
91-22-30385565/30386600 |
|
Fax No.: |
91-22-30385169 |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Anil Dhirubhai Ambani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. J. L. Bajaj |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Yogendra Narain |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. V. K. Chaturvedi |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Jayarama Chalasani |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Ramaswami Kalidas |
|
Designation : |
Company Secretary and Manager |
SHAREHOLDING PATTERN
As on 07.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2212270 |
0.08 |
|
|
2101182579 |
74.92 |
|
|
2103394849 |
75.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2103394849 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
8663711 |
0.31 |
|
|
16286714 |
0.58 |
|
|
386460 |
0.01 |
|
|
117681455 |
4.20 |
|
|
176651911 |
6.30 |
|
|
319670251 |
11.40 |
|
|
|
|
|
|
56115715 |
2.00 |
|
|
|
|
|
|
296157655 |
10.56 |
|
|
21461318 |
0.77 |
|
|
7740868 |
0.28 |
|
|
7740868 |
0.28 |
|
|
381475556 |
13.60 |
|
Total Public shareholding (B) |
701145807 |
25.00 |
|
Total (A)+(B) |
2804540656 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
585810 |
0.00 |
|
|
585810 |
0.00 |
|
Total (A)+(B)+(C) |
2805126466 |
0.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Name of the
Shareholder |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
Reliance Infrastructure Limited |
1023998193 |
36.50 |
|
AAA Project Ventures Private Limited |
537387901 |
19.16 |
|
Reliance Enterprises and Ventures Private Limited |
267776331 |
9.55 |
|
AAA International Capital Private Limited |
267776331 |
9.55 |
|
Reliance Capital Limited |
4117823 |
0.15 |
|
Reliance Innoventures Private Limited |
1000 |
0.00 |
|
Kokila D Ambani |
916306 |
0.03 |
|
Anil D Ambani |
465792 |
0.02 |
|
Jai Anmol A Ambani |
417439 |
0.01 |
|
Tina A Ambani |
412708 |
0.01 |
|
REL Utility Engineers Limited |
125000 |
0.00 |
|
Master Jai Anshul A Ambani ( through Father and Natural Guardian Shri
Anil D Ambani) |
25 |
0.00 |
|
Total |
2103394849 |
74.98 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Name of the
Shareholder |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
Life Insurance Corporation of |
113045638 |
4.03 |
|
Total |
113045638 |
4.03 |
Details of Depository Receipts (DRs)
|
Name of the
Shareholder |
No.
of Outstanding DRs |
Shares
Underlying Outstanding DRs as % of Total No. of Shares |
|
GDR |
585810 |
0.02 |
|
Total |
585810 |
0.02 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of generation of power. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1: |
Chaturvedi and Shah Chartered Accountants |
|
|
|
|
Name 2: |
Price Waterhouse Chartered Accountants |
|
|
|
|
Subsidiaries (Direct and step-down subsidiaries) : |
|
|
|
|
|
Major investing parties/promoters having significant influence on the
Company directly or indirectly : |
|
|
|
|
|
Others : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000000 |
Equity Shares |
Rs. 10/- each |
Rs. 110000.000 Millions |
|
5000000000 |
Preference Shares |
Rs. 10/- each |
Rs. 50000.000 Millions |
|
|
TOTAL |
|
Rs. 160000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2805126466 |
Equity Shares |
Rs. 10/- each |
Rs. 28051.300 Millions |
- Reconciliation
of number of shares
Rs.
in Millions
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Balance at the beginning of the year 2,805,126,466 (Previous year :
2,396,800,000) shares of Rs. 10 each |
28051.300 |
23968.000 |
|
Add: Nil (Previous year : 408,282,606) shares issued pursuant to
composite scheme of arrangement |
- |
- |
|
Add: Nil (Previous year : 43,860) shares issued on conversion of
4.928% Foreign Currency Convertible Bonds (FCCBs) |
- |
- |
|
Balance at the end of the year - 2,805,126,466 (Previous Year :
2,805,126,466) shares of Rs. 10 each |
28051.300 |
23968.000 |
- Terms/ rights
attached to equity shares
The Company has
only one class of equity shares having par value of Rs.10 per share. Each
holder of the equity share is entitled to one vote per share. In the event of
liquidation of the Company, the holders of equity shares will be entitled to
receive the remaining assets of the Company, after distribution of all
preferential amounts
- Details of
shares held by shareholders holding more than 5% of the aggregate shares
in the Company
|
Particulars |
No. of Shares |
Percentage of share holding |
|
Reliance Infrastructure Limited |
1077500000 |
38.41 |
|
AAA International Capital Private Limited |
267776331 |
9.55 |
|
Reliance Enterprises and Ventures Private Limited |
267776331 |
9.55 |
|
AAA Project Ventures Private Limited |
618945338 |
22.06 |
|
Total |
2231998000 |
79.57 |
- Aggregate
number of bonus shares issued and shares issued for consideration other than
cash during the five years immediately preceding the reporting date
a)
During the year ended March 31, 2009, the Company
had issued 136,800,000 equity shares of Rs.10 each as fully paid bonus shares
by capitalisation of Rs. 1368.000 Millions from securities premium account.
b)
During the year ended March 31, 2011, the Company
had issued 408,282,606 equity shares of Rs.10 each fully paid to the
shareholders of Reliance Natural Resources Limited as consideration for
transfer of business undertaking from Reliance Natural Resources Limited under
the composite scheme of arrangement sanctioned by High Court of Bombay on
October 15, 2010.
- 4.928%
Convertible Bonds (FCCBs)
Reliance Natural
Resources Limited (RNRL) had issued FCCBs of USD 300,000,000 vide letter of
offer dated October 12, 2006. The FCCBs were transferred to the Company in
terms of Composite Scheme of Arrangement sanctioned by the High Court of
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
28051.300 |
28051.300 |
|
(b) Reserves & Surplus |
|
132962.000 |
130914.300 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
161013.300 |
158965.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
1605.000 |
0.000 |
|
(d) long-term
provisions |
|
17.500 |
27.700 |
|
Total Non-current
Liabilities (3) |
|
1622.500 |
27.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
2150.000 |
|
(b) Trade
payables |
|
275.700 |
320.900 |
|
(c) Other
current liabilities |
|
169.800 |
14224.800 |
|
(d) Short-term
provisions |
|
4.400 |
5.600 |
|
Total Current
Liabilities (4) |
|
449.900 |
16701.300 |
|
|
|
|
|
|
TOTAL |
|
163085.700 |
175694.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
854.700 |
849.700 |
|
(ii)
Intangible Assets |
|
25.200 |
2.600 |
|
(iii)
Capital work-in-progress |
|
90.100 |
394.100 |
|
(iv)
Intangible assets under development |
|
32.100 |
4.000 |
|
(b) Non-current Investments |
|
94439.400 |
61611.400 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
41244.900 |
38983.800 |
|
(e) Other
Non-current assets |
|
1603.800 |
2491.600 |
|
Total Non-Current
Assets |
|
138290.200 |
104337.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
1751.800 |
24171.800 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c) Trade
receivables |
|
191.500 |
122.000 |
|
(d) Cash
and cash equivalents |
|
2059.500 |
9857.500 |
|
(e)
Short-term loans and advances |
|
18766.900 |
36047.300 |
|
(f) Other
current assets |
|
2025.800 |
1158.800 |
|
Total
Current Assets |
|
24795.500 |
71357.400 |
|
|
|
|
|
|
TOTAL |
|
163085.700 |
175694.600 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
23968.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
116692.433 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
140660.433 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
140660.433 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
787.592 |
|
|
Capital work-in-progress |
|
|
552.994 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
72130.443 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
982.138 |
|
|
Other Current Assets |
|
|
31.844 |
|
|
Loans & Advances |
|
|
66532.229 |
|
Total
Current Assets |
|
|
67546.211 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
279.362 |
|
|
Other Current Liabilities |
|
|
56.640 |
|
|
Provisions |
|
|
20.805 |
|
Total
Current Liabilities |
|
|
356.807 |
|
|
Net Current Assets |
|
|
67189.404 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
140660.433 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
661.200 |
363.800 |
85.507 |
|
|
|
Other Income |
4657.300 |
4351.500 |
3795.222 |
|
|
|
TOTAL |
5318.500 |
4715.300 |
3880.729 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of coal rejects |
68.900 |
|
|
|
|
|
Fuel handling and service charges |
384.700 |
189.100 |
|
|
|
|
Employee benefits expense |
386.500 |
606.000 |
|
|
|
|
Administration and other expenses |
736.300 |
905.600 |
|
|
|
|
Exchange loss on settlement of 4.928% Convertible Bonds |
1358.800 |
0.000 |
|
|
|
|
Equivalent amount withdrawn from General reserve |
(1358.800) |
0.000 |
|
|
|
|
TOTAL |
1576.400 |
1744.000 |
969.272 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3742.100 |
2971.300 |
2911.457 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
603.400 |
423.500 |
16.938 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3138.700 |
2547.800 |
2894.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.300 |
11.400 |
5.139 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE ADJUSTMENTS AND TAXATION |
3109.400 |
2536.400 |
2889.381 |
|
|
|
|
|
|
|
|
|
|
ADJUSTMENT : (Investments in Sasan Power Infrastructure
Limited (wholly owned subsidiary) (previous year - Sasan Power Infraventures
Private Limited wholly owned subsidiary) written off pursuant to the scheme
of amalgamation) |
2000.500 |
1780.100 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EQUIVALENT
AMOUNT WITHDRAWN FROM GENERAL RESERVE |
(2000.500) |
(1780.100) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3109.400 |
2536.400 |
2889.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.800 |
(209.100) |
157.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3108.600 |
2745.500 |
2732.331 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3913.500 |
6168.000 |
3435.885 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3500.000 |
5000.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
3522.100 |
3913.500 |
6168.216 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Dividend on Preference shares |
67.900 |
28.000 |
0.000 |
|
|
TOTAL EARNINGS |
67.900 |
28.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.11 |
1.06 |
1.14 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 (Unaudited) |
30.09.2012 (Unaudited) |
31.12.2012 (Unaudited) |
31.03.2013 (Unaudited) |
|
|
1st
Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
|
Net sales |
18.200 |
18.200 |
16.900 |
66.800 |
|
Total Expenditure |
166.300 |
232.400 |
197.400 |
599.100 |
|
Profit before interest, depreciation and
tax (Excluding Other Income) |
(148.100) |
(214.200) |
(180.500) |
(532.300) |
|
Other income |
710.000 |
682.400 |
626.100 |
389.900 |
|
Operating Profit |
561.900 |
468.200 |
445.600 |
(162.400) |
|
Interest |
4.400 |
14.500 |
60.200 |
141.500 |
|
Exceptional Items |
0.000 |
0.000 |
4072.600 |
0.000 |
|
Profit before depreciation and tax |
557.500 |
453.700 |
4457.900 |
(303.900) |
|
Depreciation |
8.100 |
8.400 |
7.800 |
7.300 |
|
Profit before tax |
549.400 |
445.300 |
4450.300 |
(311.200) |
|
Tax |
80.800 |
87.700 |
758.000 |
(932.000) |
|
Profit after tax |
468.600 |
357.600 |
3692.300 |
620.800 |
|
Extraordinary items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior period expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
468.600 |
357.600 |
3692.300 |
620.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
58.45
|
58.22 |
70.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
470.27
|
697.19 |
3379.116 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.60
|
2.24 |
4.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.19 |
189.31 |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
UNSECURED LOAN:
|
Particulars |
As on 31.03.2012 Rs. in Millions |
As on 31.03.2011 Rs. in Millions |
|
Unsecured interest free inter-corporate deposit from subsidiary (Repayable within six months from the date of receipt) |
0.000 |
2150.000 |
|
Total |
0.000 |
2150.000 |
FINANCIAL
PERFORMANCE
During the year,
the total Income of the Company was Rs, 5318.500 Millions against Rs. 4715.300
Millions in the previous year on a standalone basis. The Company has earned a
Profit after tax of Rs. 3108.600 Millions compared to Rs, 2745.500 Millions in
the previous year on a stand alone basis.
BUSINESS
OPERATIONS
The Company is in
the business of setting up and operating power projects and in the development
of coal mines. The Company has a large portfolio of power projects and is also
developing coal mines in
capacity would be
based on coal as the primary fuel. The others include gas based power projects,
hydro-electric power projects and power projects based on renewable energy
resources such as solar and wind.
ECONOMIC OUTLOOK
The global
economic and financial crisis has had a dampening effect on cross border FDI
flows and in order to maintain earlier levels of foreign investment and attract
more, it is imperative to enhance
Monetary policy
continued to be tightened by the Reserve Bank of India (RBI) to curb inflation
which had a lagged impact and inflation fell towards the end of the year.
Growth and investments were also affected by global developments, including the
Greek and Euro zone debt crisis, and the continuous political turmoil in the
Middle East leading to high crude oil prices and de-rating of the
NEWS:
RELIANCE POWER'S RAJASTHAN PROJECT GETS APPROVAL FOR CARBON CREDITS
Reliance Power Limited has informed BSE regarding a Media Release dated July 09, 2013, titled "Reliance Power's 100 MW Concentrated Solar Power (CSP) Project, In Rajasthan, Gets Approval for Carbon Credits" Reliance Power's 100 MW Concentrated Solar Power (CSP) Project, in Rajasthan, has received approval for Carbon Credits, under the United Nations Framework Convention on Climate Change (UNFCCC).
RPOWER PROMOTERS GET RS 1,500 CR VIA
5.42%-STAKE
(RPower) promoters on Wedneday sold a 5.42-percent stake in the company about Rs 15000.000 Millions as their offer for sale was oversubscribed nearly 1.6 times. The sale would help the company meet Sebi norms for a minimum 25 percent public float.
“Reliance Infrastructure Limited and other promoter group companies on Wednesday announced completion of an Offer-for-Sale (OFS) of 5.42 percent of the share capital of Reliance Power Limited," the company said in a statement. The OFS received bids worth approximately Rs 23000.000 Millions, and was oversubscribed nearly 1.6 times from a large number of foreign and domestic institutional and other categories of investors, it added.
"The transaction was completed at a price of Rs 95
per share on a proportionate allocation method, resulting in gross
sales proceeds of approximately Rs 15000.000 Millions," RPower said.
Pursuant to the OFS, the public shareholding in Reliance Power has increased to
25 percent, thereby improving liquidity, apart from meeting regulatory
requirements more than 6 months ahead of the deadline of June 30, 2013 fixed by
Sebi, it added.
Axis Capital Limited acted as the sole
selling broker for the OFS.
At the end of September 2012, promoters held 80.42-percent stake in Reliance
Power. Shares of the company closed at Rs 98.05, down 0.36 percent.
RELIANCE POWER UPDATES ON
SCHEME OF AMALGAMATION
Reliance Power
Limited has informed BSE that the Board
of Directors of the Company, have, considered and approved the Scheme of
Amalgamation (the 'Scheme') of Reliance Clean Energy Private Limited (the
Transferor Company), its 100% Subsidiary Company with Reliance Power Limited
(the Transferee Company) under sections 391 to 394 of the Companies Act, 1956.
As per the Scheme, no shares are proposed to be issued since the entire share
capital of Reliance Clean Energy Private Limited is held by Reliance Power
Limited and its nominees.Further the Company has informed that, the Company
will not be filing any application with the High Court.In this regard, the
Company has submitted to BSE a copy certified extracts from the resolution
passed by the Board of Directors of the Company on December 01, 2012.
ARTICLES:
Mumbai July 09, 2013
RELIANCE POWER GAINS AS ARM
GETS CARBON CREDITS NOD
Reliance Power has the world's largest CDM registered
capacity of more than 12,000 MW with a potential to generate 60 million carbon
credits in the next 10 years
Reliance Power is trading higher by 7% to Rs 76.50 after the electric utilities firm announced that it’s wholly owned subsidiary Rajasthan Sun Technique Energy Private Limited has become eligible for carbon credits.
“The company’s 100 mega watt concentrated solar plant project in Rajasthan has received approval for carbon credits under the United Nations Framework Convention on Climate Change (UNFCCC)," Reliance Power said in a press release.
Clean Development Mechanism Executive Board will allow projects to generate and sell certified emission reductions internationally and this will translate into direct revenues for the company, it added.
The company said, it has already got CDM registration for its super-critical technology based power projects.
Along with the present registration, Reliance Power has the world's largest CDM registered capacity of more than 12,000 MW with a potential to generate 60 million carbon credits in the next 10 years.
The stock opened at Rs 72.15 and touched high of Rs 77.10 on
NSE. A combined 28.74 million shares have changed hands on the counter till
1430 hours on NSE and BSE.
REGULATOR SETS ASIDE COMMISSIONING OF RELIANCE POWER'S
SASAN UNIT
June 26, 2013
In a rare move,
the central electricity regulatory commission (CERC) has set aside the
commissioning of the Anil Ambani-owned Reliance Power's subsidiary Sasan Power
Limited (SPL) first unit.
The deadline set was May 6, but a Reliance Power press release had claimed the
unit would be commissioned on March 30.
The SPL ultra mega power plant, located in Sasan, Madhya Pradesh, is to
comprise six units in all of 660 megawatts (MW) each, adding up to a total installed
capacity of 3,960 MW. The plant is committed to supply power at one of the
lowest tariffs in the country, an average of Rs 1.19 per kilowatt hour (KWh).
The judgment is a major setback and likely to hit the finances of both SPL and
Reliance Power. It will also derail Reliance's efforts to revise the tariff.
The order was passed following a case filed with the CERC against SPL by the
Western Regional Load Dispatch Centre (WRLDC), which monitors the flow of power
in the Western region for the national grid. The agency moved the CERC in the
first week of May, alleging the SPL had violated CERC rulings as well as some
of the norms of the Central Electricity Authority. It also charged that SPL had
not adhered to the production sharing contract signed with the buyers of its
power and demanded the commissioning be quashed.
It was charged that during tests conducted at SPL from March 27 to 30, the unit
failed to generate 95 per cent of its contracted capacity for a continuous 72
hours, a pre-condition for commissioning. It could only generate 15 per cent.
The load was so low that various tests to check the functioning of the unit
could not be carried out.
The CERC order agreed with the WRLDC's contentions. It said that since the
WRLDC has to schedule power supply in accordance with commitments made under
power purchase agreements, it had every right to ensure it is satisfied
with the commissioning of any unit.
A Reliance Power spokesperson expressed surprise ay the
verdict. “ It is Surprising that the CERC chose to deal with the merits of an independent engineers certificate
without even gearing Saasn Power or the engineer concerned, “he said. “It is a
violation of principle of natural justice and is not tenable in law. Sasan Power is approaching the appellate
tribunal to quash the untenable order if the CERC.
MEDIA RELEASE
- Q4 FY13 TOTAL
INCOME OF Ě 1,265 CRORE (US$ 233 MILLION) – AN INCREASE OF 94%
- Q4 FY13 NET
PROFIT OF Ě 266 CRORE (US$ 49 MILLION) – AN INCREASE OF 15%
- FY13 TOTAL INCOME
OF Ě 5,284 CRORE (US$ 971 MILLION) – AN INCREASE OF 91%
- FY13 EBITDA
OF Ě 1,713 CRORE (US$ 315 MILLION) – AN INCREASE OF 175%
- FY13 NET
PROFIT OF Ě 1,011 CRORE (US$ 186 MILLION) – AN INCREASE OF 17%
- OPERATIONAL CAPACITY
DOUBLED FROM 1,240 MW TO 2,500 MW
- RECORD
GENERATION OF 8 BILLION UNITS AT 1,200 MW
- GENERATION OF
60 MILLION UNITS AT 40 MW SOLAR PV PLANT IN RAJASTHAN IN FIRST YEAR OF
OPERATION
- COAL
PRODUCTION FROM 20 MTPA MOHER MINES STARTED IN SEPTEMBER 2012
- 5 MTPA
CHHATRASAL COAL MINES RECEIVED STAGE-I FOREST CLEARANCE
- FIRST UNIT OF
3,960 MW SASAN UMPP IN MADHYA PRADESH COMMISSIONED AHEAD OF SCHEDULE
- FIRST UNIT OF
600 MW BUTIBORI PROJECT IN
- SECOND UNIT
SYNCHRONIZED
Mumbai,
May 13, 2013: Reliance Power Limited, a Reliance Group company, today
announced its financial results for the quarter and year ended March 31, 2013.
The company’s Board of Directors approved the financial results at its meeting
here today.
Performance
highlights include:
|
Particulars |
FY12-13 |
FY11-12 |
|
Operating
Revenues |
ě 4,927
crore (US$ 906 million) |
ě 2,019 crore (US$ 371 million) |
|
Other
Income |
ě 357 crore (US$ 66 million) |
ě 748 crore (US$ 137 million) |
|
Total
Income |
ě 5,284 crore (US$ 971 million) |
ě 2,767 crore (US$ 509 million) |
|
Net
Profit |
ě 1,011 crore (US$ 186 million) |
ě 867 crore (US$ 159 million) |
Announcing
the results, J.P. Chalasani, the Chief Executive Officer of Reliance Power,
said: “The year 2012-13 saw us achieve significant landmarks in the development
of our flagship 3,960 MW Sasan Ultra Mega Power Project (UMPP) - the largest
integrated power plant and coal mining project in the world. We commenced coal
production from our 20 MTPA Moher mines, in record time, in September 2012.
This will become the largest coal mine in the country in terms of volume
handled. We also commissioned our first 660 MW, super-critical unit of the
Sasan UMPP in March 2013. This year also saw the first full year operation of
our 1,200 MW Rosa project in Uttar Pradesh and the 40 MW Solar PV project in
Rajasthan which resulted in record generation and profitability. Our operating
revenues increased by 144% and net profit increased by 17% in FY12-13”.
FY2012-13
HIGHLIGHTS
Operating
Capacities
- The Rosa Power Plant in UP generated
8.0 billion million units (BUs) as against 4.3 BUs in the previous year.
- Plant availability increased from 86%
to 92%
- Operating revenues increased to ě 4,308
crore (from ě 1,958 crore the previous year).
- One unit of the Butibori power plant
commissioned and the second unit synchronized.
- The 40 MW Dhursar solar PV plant in
Rajasthan generated 60 million units which resulted in a net profit of ě
24 crore.
- The first unit of 3,960 MW Sasan Ultra
Mega Power Project (UMPP) commissioned in March 2013.
Capacities
under Construction
- Construction work in full swing for the
remaining units of the Sasan UMPP and each unit is on track to be
commissioned ahead of schedule.
- The 45 MW wind project in
- The 100 MW Concentrated Solar Power (CSP)
project in Dhursar, Rajasthan has also made significant progress. This
will be the largest CSP plant to be commissioned under the government’s
National Solar Mission.
About
Reliance Power Limited
Reliance
Power Limited, a part of Reliance Group, is
- 3,960 MW SASAN ULTRA MEGA POWER PROJECT - WORLD’S LARGEST INTEGRATED
COAL MINE AND POWER PROJECT – STARTS GENERATING POWER
- FIRST UNIT OF 660 MW SYNCHRONIZED ON MARCH 9,2013 AHEAD OF SCHEDULE
- PROJECT ON TRACK TO COMPLETE ALL SIX UNITS OF 660 MW EACH AHEAD OF
SCHEDULE
- SASAN COAL MINES - THE LARGEST COAL MINE IN
- SEVEN STATES TO BENEFIT FROM LOW COST ELECTRICITY – AFFORDABLE AND
RELIABLE POWER TO 35 CRORE INDIANS FOR 25 YEARS
- LARGEST INVESTMENT OF OVER `23,000 CRORE IN AN INTEGRATED COAL MINE AND POWER PLANT IN
Sasan
(Madhya Pradesh), March 11, 2013: Reliance Power announced that
the first 660 MW unit at the Sasan Ultra Mega Power Plant has been successfully
synchronized on March 9, 2013.
This would
also be the first integrated coal mine and super-critical power plant to be
commissioned in
As
announced earlier, coal production has already commenced from the Moher and
Moher-Amlohri coal mines and Chhatrasal coal block has also received forest
clearance and is under development. The plant has also been connected to the
National Grid.
The
electricity generated from the project would be sold to 14 distribution
companies across seven states benefiting an estimated Rs. 350.000 Millions
people.
The
Sasan Ultra Mega Power Project is the largest integrated power plant and coal
mining project in
About
Reliance Power:
Reliance
Power Limited, a part of the Reliance Group, is
FIXED
ASSETS:
- Buildings
- Plant and
equipment
- Furniture and
fixtures
- Motor
vehicles
- Office
equipment
- Computers
- Computer
software
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 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. 60.07 |
|
|
1 |
Rs. 89.91 |
|
Euro |
1 |
Rs. 77.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.