MIRA INFORM REPORT
|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
KALPATARU POWER TRANSMISSION LIMITED (w.e.f. 20.12.1993) |
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Formerly Known
As : |
HT POWER STRUCTURE LIMITED |
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Registered
Office : |
Plot
No.101, Part-III, G.I.D.C. Estate, Sector-28, Gandhinagar – 382028, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.04.1981 |
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Com. Reg. No.: |
04-004281 |
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Capital
Investment / Paid-up Capital : |
Rs.306.921
Millions |
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CIN No.: [Company Identification
No.] |
L40100GJ1981PLC004281 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Distributor of Power Transmission Towers and also engaged in Infrastructure EPC. |
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No. of Employees
: |
1900 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 73800000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well established company having a good track record.
There appears slight dip in profitability during 2013. However, general financial strength seems to be strong. Liquidity
position is good. Fundamental appers to be healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 |
CARE |
|
Rating |
Non Convertible Debenture : “AA” |
|
Rating Explanation |
Having high degree of safety regarding timely servicing of financial
obligation. It carry very low credit risk. |
|
Date |
July, 2013 |
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-COOPERATIVE (Tel. No. 79-23214000)
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot
No.101, Part-III, G.I.D.C. Estate, Sector-28, Gandhinagar – 382028, Gujarat,
India |
|
Tel. No.: |
91-79-23211951 / 23211955 / 23214000 |
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Fax No.: |
91-79-23211966 / 68 / 71 |
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E-Mail : |
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Website : |
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Area: |
48000 sq.mts ( 12 Acres) |
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Corporate Office and International / Infrastructure Office : |
101, ‘Kalpataru Synergy’, 8th Floor,
Opposite Grand Hyatt Hotel, Santacruz (East), Mumbai – 400055, Maharashtra,
India |
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Tel. No.: |
91-22-30645000 |
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Fax No.: |
91-22-30642500 / 36712608 / 30643131 |
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Factory 2 : |
EOU Plant Plot No. A-4/1, A-4/2,
A-5, G.I.D.C., Electronic Estate, Sector – 25, Gandhinagar – 382025, Gujarat,
India |
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Tel. No.: |
91-79-23214400 |
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Fax No. : |
91-79-23287215 |
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Factory 3 : |
Biomass
Energy Division (Power Plant) 27BB, Tehsil Padampur, District Sri Ganganagar,
Rajasthan, India |
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Tel. No.: |
91-154-2473725 |
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Fax No.: |
91-154-2473724 |
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Factory 4 : |
Biomass
Energy Division (Power Plant) Near Village
Khatoli, Tehsil Uniara, District Tonk – 304024, Rajasthan, India |
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Tel. No.: |
91-1436-260665 |
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Fax No.: |
91-1436-260666 |
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Factory 5 : |
Raipur Plant: Khasra No.1778, 1779, Old Dhamtari Road, Village : Khorpa, Tehsil : Abhanpur, District : Raipur, Chhattishgarh, India |
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Fax No.: |
91-771-2446988 |
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R and
D Centre : |
At Punadara
Village, Near Talod Dam, Taluka – Prantij, District Sabarkatha, Gujarat,
India |
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Tel. No.: |
91-2770-255414 |
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International
Project Office : |
Located At: ·
Algeria ·
Congo ·
Ethiopia ·
Kenya ·
Kuwait ·
Philippines ·
Qatar ·
South Africa ·
Srilanka · Tanzania · UAE ·
Ukraine |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Mofatraj P. Munot |
|
Designation : |
Chairman |
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Name : |
Mr. Manish Mohnot |
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Designation : |
Executive Director |
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Name : |
Mr. Parag Munot |
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Designation : |
Promoter Director |
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Name : |
Mr. Sajjanraj Mehta |
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Designation : |
Independent Director |
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Name : |
Mr. K. V. Mani |
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Designation : |
Non-Executive Director |
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Name : |
Mr. S. P. Talwar |
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Designation : |
Independent Director |
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Name : |
Mr. Ranjit Singh |
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Designation : |
Managing Director |
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Name : |
Mr. Mahendra G. Punatar |
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Designation : |
Independent Director |
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Name : |
Mr. Vimal Bhandari |
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Designation : |
Independent Director |
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Name : |
Mr. Narayan Seshadri |
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Designation : |
Independent Director |
KEY EXECUTIVES
|
EXECUTIVE
MANAGEMENT TEAM |
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Name : |
Mr. Kamal K. Jain |
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Designation : |
Director (Finance) and CFO |
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Name : |
Mr. Dinesh B. Patel |
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Designation : |
Director (Operations) |
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Name : |
Mr. B. K. Satish |
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Designation : |
President and CEO (Distribution Projects) |
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Name : |
Mr. Sanjay Dalmia |
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Designation : |
Head - International Business |
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Name : |
Mr. Gyan Prakash |
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Designation : |
President & CEO (Infrastructure Projects) |
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Name : |
Mr. M. A. Baraiya |
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Designation : |
Dy. President (HR and Admin) |
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Name : |
Mr. Subhasish Mukherjee |
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Designation : |
President (International TL Business) |
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Name : |
Mr. S. Ayya. Durrai Pandian |
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Designation : |
President (Construction) |
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Name : |
Mr. Vinod Radadia |
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Designation : |
President (Production) |
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Name : |
Mr. Bajrang Ramdharani |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2013
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
28969398 |
18.88 |
|
|
59791796 |
38.96 |
|
|
88761194 |
57.84 |
|
|
|
|
|
|
300000 |
0.20 |
|
|
300000 |
0.20 |
|
Total shareholding of Promoter and Promoter Group (A) |
89061194 |
58.04 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
19035785 |
12.40 |
|
|
522984 |
0.34 |
|
|
7195000 |
4.69 |
|
|
8843117 |
5.76 |
|
|
16775430 |
10.93 |
|
|
7008 |
0.00 |
|
|
1000 |
0.00 |
|
|
6008 |
0.00 |
|
|
52379324 |
34.13 |
|
|
|
|
|
|
2584182 |
1.68 |
|
|
|
|
|
|
8082837 |
5.27 |
|
|
292019 |
0.19 |
|
|
1061014 |
0.69 |
|
|
130971 |
0.09 |
|
|
930043 |
0.61 |
|
|
12020052 |
7.83 |
|
Total Public shareholding (B) |
64399376 |
41.96 |
|
Total (A)+(B) |
153460570 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
153460570 |
100.00 |
Shareholding of securities (including shares, warrants, convertible securities)
of persons belonging to the category Promoter and Promoter Group
|
Name of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
Kalpataru Constructions Private Limited |
2,33,50,000 |
15.22 |
|
K C Holdings Private Limited |
2,11,42,600 |
13.78 |
|
Kalpataru Properties Private Limited |
1,36,46,196 |
8.89 |
|
Mofatraj Pukharaj Munot |
1,25,24,332 |
8.16 |
|
Parag Mofatraj Munot |
1,25,02,636 |
8.15 |
|
Tara Kanga |
15,54,130 |
1.01 |
|
Kalpataru Viniyog Private Limited |
13,20,000 |
0.86 |
|
Sudha Rajesh Golecha |
8,71,650 |
0.57 |
|
Sunita Vijay Choraria |
8,71,650 |
0.57 |
|
Kalpataru Holdings Private Limited |
3,33,000 |
0.22 |
|
Mohammed Ismail Kanga |
3,00,000 |
0.20 |
|
Imtiaz Kanga |
3,00,000 |
0.20 |
|
Ismat Imtiaz Kanga |
1,00,000 |
0.07 |
|
Imran Imtiaz Kanga |
1,00,000 |
0.07 |
|
Ishrat Imtiaz Kanga |
1,00,000 |
0.07 |
|
Chandra Amar Munot |
10,000 |
0.01 |
|
Jash Choraria |
7,000 |
0.00 |
|
Khushali Rajesh Golechha |
7,000 |
0.00 |
|
Rajesh Bhagchand Golechha |
7,000 |
0.00 |
|
Umang Golechha |
7,000 |
0.00 |
|
Vijay K Choraria |
7,000 |
0.00 |
|
Total |
8,90,61,194 |
58.04 |
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
Shareholder |
No. of Shares |
Percentage of
Holding |
|
ICICI Prudential Infrastructure Fund |
8477900 |
5.52 |
|
ICICI Prudential Life Insurance Company Limited |
7827104 |
5.10 |
|
IDBI Trusteeship Services Ltd (India Advangate Fund V) |
7195000 |
4.69 |
|
HSBC Global Investment Funds A/c HSBC Global Investmnet Funds
Mauritius Limited |
5646045 |
3.68 |
|
Birla Sun Life Trustee Company Private Limited A/c Birla Sun Life
Small and Midcap Fund |
3530600 |
2.30 |
|
Morgan Stanley Mauritius Company Limited |
2953593 |
1.92 |
|
Eastspring Investment India Infrastrucre Equity Open Limited |
2094580 |
1.36 |
|
DSP Blackrock Small and Mid Cap Fund |
1800002 |
1.17 |
|
Sundaram Mutual Fund a/c Sundaram Select Thematic Funds Capex
Opportunities - Dividend |
1704405 |
1.11 |
|
UTI Long Term Advantage Fund |
1606984 |
1.05 |
|
Total |
42836213 |
27.91 |
Shareholding of securities (including shares, warrants, convertible securities)
of persons (together with PAC) belonging to the category “Public” and holding
more than 5% of the total number of shares of the company
|
Name of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
ICICI Prudential Infrastructure Fund |
8477900 |
5.52 |
|
ICICI Prudential Life Insurance Company Limited |
7827104 |
5.10 |
|
Total |
16305004 |
10.62 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributor of Power Transmission Towers and also engaged in Infrastructure EPC. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
1900 (Approximately) |
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Bankers : |
· Indian Bank · Oriental Bank of Commerce · Union Bank of India · State Bank of India · Indian Bank · Oriental Bank of Commerce · Union Bank of India · State Bank of India · DBS Bank · BNP Paribas, Abu Dhabi ·
HSBC, Qatar |
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Facilities : |
Note: Long term
borrowings Foreign Currency Loans from Banks carries interest of 3M $ Libor + Spread and is repayable in 13 equal quarterly instalments starting from 21.10.2013. The loan is secured by charge over specific movable fixed assets financed through this loan. Rupee Loans: (a) Rupee loans from NBFC carries interest of 10.25% p.a. and is repayable in 35 equal monthly instalments along with interest. The loan is secured by hypothecation of specific moveable fixed assets of the Company. (b) Rupee loans from Bank carries interest in the range of 6.99% - 10.85% p.a. and is repayable in 35 / 36 equal monthly instalments along with interest. The loan is secured by hypothecation of Vehicles. Short term borrowings Working Capital Facilities from Banks are secured in favour of consortium of bankers by hypothecation of stocks, stores and spares, books debts, bills receivables and all other movable assets on pari passu basis. Also secured by movable and immovable fixed assets (including land and building situated at Gandhinagar, Gujarat) of transmission and distribution division and infrastructure division of company, on which debenture holders have first exclusive charge to the extent of 1.25 times of outstanding NCDs. |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells, Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
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|
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Legal Advisor : |
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|
Name : |
Singhi and Company |
|
Address : |
Ahmedabad, Gujarat, India |
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Subsidiaries : |
· JMC Projects (India) Limited · Shree Shubham Logistics Limited · Energy Link (India) Limited · Amber Real Estate Limited · Kalpataru Power Transmission (Mauritius) Limited · Kalpataru South Africa (Pty) Limited · Kalpataru Power Transmission Nigeria Limited · Kalpataru Power Transmission USA INC · Adeshwar Infrabuild Limited · Jhajjer Power Transmission Private Limited * · Kalpataru Power Transmission International BV · Kalpataru Power Transmission Ukraine |
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|
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|
Indirect
Subsidiaries : |
· JMC Mining and Quarries Limited · Saicharan Properties Limited · Brij Bhoomi Expressway Private Limited · Wainganga Expressway Private Limited · Kalpataru Power JLT · Vindhyachal Expressway Private Limited · Kalpataru Industria E comercia S.A.** |
|
|
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|
Enterprises under significant
influence, which are having transaction with Companies : |
· Kalpataru Properties Private Limited · Kalpataru Theatres Private Limited · Property Solution (India) Private Limited · P.K. Velu and Company Private Limited · Kalpataru Enterprises · Kalpataru Limited · Argos International Marketing Private Limited |
|
|
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|
Joint Ventures : |
· Jhajjer KT Transco Private Limited · Gestamp Kalpataru Solar Steel Structure Private Limited |
* The Company has sold its stake on 13-03-2013
** Earlier known as Brafer Kalpataru Industria E Comercio S.A.
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175,000,000 |
Equity Shares |
Rs.2/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
153,460,570 |
Equity Shares |
Rs.2/- each |
Rs. 306.921 Millions |
|
|
|
|
|
Reconciliation of the
Equity Shares outstanding at the beginning and at the end of the reporting
period
|
Equity Shares |
31.03.2013 |
|
|
Numbers |
Rs. In Milllions |
|
|
Shares outstanding at the beginning of the year |
153,460,570 |
306.921 |
|
Shares outstanding at the end of the year |
153,460,570 |
306.921 |
The Company has
only one class of Equity Shares having par value of Rs.2/- per share. Each
holder of Equity Shares is entitled to one vote per share. The dividend is declared
and paid on being proposed by the Board of Directors after the approval of the
Shareholders in the ensuing Annual 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 liabilities.
The distribution will be in proportion to the number of Equity Shares held by
the shareholders.
Details of
shareholders holding more than 5% shares in the Company
|
Equity Shares |
31.03.2013 |
|
|
No. of Shares held |
% of Holding |
|
|
Mofatraj P. Munot |
12,306,553 |
8.02 |
|
Parag M. Munot |
12,312,036 |
8.02 |
|
Kalpataru Construction Private Limited |
23,350,000 |
15.22 |
|
K. C. Holding Private Limited |
21,142,600 |
13.78 |
|
Kalpataru Properties Private Limited |
13,646,196 |
8.89 |
|
ICICI Prudential Life Insurance Company |
7,775,474 |
5.07 |
|
ICICI Prudential Mutual Fund |
8,014,782 |
5.22 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
306.921 |
306.921 |
306.921 |
|
(b) Reserves & Surplus |
18156.474 |
17122.164 |
15603.828 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
18463.395 |
17429.085 |
15910.749 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1526.135 |
2096.155 |
1561.702 |
|
(b) Deferred tax liabilities (Net) |
118.110 |
98.151 |
106.651 |
|
(c) Other long term
liabilities |
6.875 |
9.510 |
8.238 |
|
(d) long-term
provisions |
669.153 |
618.839 |
530.093 |
|
Total Non-current
Liabilities (3) |
2320.273 |
2822.655 |
2206.684 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3796.901 |
2377.208 |
2903.348 |
|
(b) Trade
payables |
11944.106 |
10484.780 |
8942.577 |
|
(c) Other
current liabilities |
4314.222 |
2607.156 |
3929.753 |
|
(d) Short-term
provisions |
747.251 |
791.195 |
965.396 |
|
Total Current
Liabilities (4) |
20802.480 |
16260.339 |
16741.074 |
|
|
|
|
|
|
TOTAL |
41586.148 |
36512.079 |
348585.507 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5260.626 |
3891.484 |
3539.641 |
|
(ii)
Intangible Assets |
46.526 |
45.827 |
53.943 |
|
(iii)
Capital work-in-progress |
79.294 |
591.493 |
146.259 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3339.215 |
3287.957 |
2993.343 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5419.341 |
3525.927 |
3643.119 |
|
(e) Other
Non-current assets |
552.706 |
590.165 |
702.208 |
|
Total Non-Current
Assets |
14697.708 |
11932.853 |
11078.513 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
11.500 |
761.397 |
962.454 |
|
(b)
Inventories |
4439.671 |
3211.549 |
2410.372 |
|
(c) Trade
receivables |
12878.977 |
12625.081 |
13482.650 |
|
(d) Cash
and cash equivalents |
569.024 |
1045.496 |
1442.562 |
|
(e)
Short-term loans and advances |
4298.641 |
2994.206 |
1299.186 |
|
(f) Other
current assets |
4690.627 |
3941.497 |
4182.770 |
|
Total
Current Assets |
26888.440 |
24579.226 |
23779.994 |
|
|
|
|
|
|
TOTAL |
41586.148 |
36512.079 |
348585.507 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
33353.973 |
30327.119 |
28781.790 |
|
|
|
Other Income |
477.251 |
511.833 |
469.525 |
|
|
|
TOTAL (A) |
33831.224 |
30838.952 |
29251.315 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
16491.735 |
14885.798 |
12767.963 |
|
|
|
Employee Benefits Expense |
2006.396 |
1702.311 |
1870.601 |
|
|
|
Other Expenses |
12435.809 |
10312.838 |
10583.182 |
|
|
|
(Increase) / Decrease in Stocks |
(800.794) |
133.702 |
125.415 |
|
|
|
TOTAL (B) |
30133.146 |
27034.649 |
25347.161 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
3698.078 |
3804.303 |
3904.154 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1220.106 |
1082.486 |
879.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2477.972 |
2721.817 |
3025.062 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
522.535 |
480.974 |
459.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1955.437 |
2240.843 |
2565.795 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
578.909 |
591.762 |
660.168 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1376.528 |
1649.081 |
1905.627 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7153.139 |
6130.898 |
4873.971 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity Shares [Dividend per Share Rs.1.50 (Previous year Rs. 1.50)] |
230.191 |
230.191 |
230.191 |
|
|
|
Corporate Tax on Proposed Dividend |
31.990 |
31.649 |
33.509 |
|
|
|
Transfer to Debentures Redemption Reserve |
20.000 |
65.000 |
85.000 |
|
|
|
Transfer to General Reserve |
300.000 |
300.000 |
300.000 |
|
|
BALANCE CARRIED
TO THE B/S |
7947.486 |
7153.139 |
6130.898 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of goods on FOB basis |
8046.944 |
5881.686 |
5989.895 |
|
|
|
Services |
191.379 |
88.915 |
175.313 |
|
|
|
Overseas Projects Earning |
216.048 |
998.268 |
339.716 |
|
|
|
Certified Emission Reduction (CER’s) |
3.101 |
50.999 |
39.881 |
|
|
TOTAL EARNINGS |
8457.472 |
7019.868 |
6544.805 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2501.928 |
1641.516 |
1458.607 |
|
|
|
Stores, Spares and Tools |
63.842 |
25.618 |
10.848 |
|
|
|
Capital Goods |
332.751 |
435.777 |
327.215 |
|
|
TOTAL IMPORTS |
2898.521 |
2102.911 |
1796.670 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
8.97 |
10.75 |
12.58 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
|
30.06.2013 |
|
Type |
|
|
|
1st
Quarter |
|
Net Sales |
|
|
|
8896.000 |
|
Total Expenditure |
|
|
|
7976.200 |
|
PBIDT (Excl OI) |
|
|
|
919.800 |
|
Other Income |
|
|
|
133.400 |
|
Operating Profit |
|
|
|
1053.200 |
|
Interest |
|
|
|
382.500 |
|
Exceptional Items |
|
|
|
0 |
|
PBDT |
|
|
|
670.700 |
|
Depreciation |
|
|
|
159.000 |
|
Profit Before Tax |
|
|
|
511.700 |
|
Tax |
|
|
|
165.000 |
|
Provisions and contingencies |
|
|
|
0 |
|
Profit After Tax |
|
|
|
346.700 |
|
Extraordinary Items |
|
|
|
0 |
|
Prior Period Expenses |
|
|
|
0 |
|
Other Adjustments |
|
|
|
0 |
|
Net Profit |
|
|
|
346.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.07
|
5.35 |
6.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.86
|
7.39 |
8.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.12
|
6.87 |
8.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.13 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.29
|
0.26 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
1.51 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of Long Term debts |
587.521 |
259.347 |
59.220 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10430911 |
29/05/2013 |
1,540,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B77022440 |
|
2 |
10437989 |
28/05/2013 |
3,630,000.00 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
UNIT 202, 2ND FLOOR, CAMPUS 3B,RMZ MILLENNIA, BUSINESS PARK, NO.143, DR. M.G.R.ROAD,PERUNGUDI, CHENNAI - 600096, TAMILNADU, INDIA |
B80106727 |
|
3 |
10432795 |
24/05/2013 |
1,015,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B77835858 |
|
4 |
10423957 |
13/04/2013 |
824,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B74504812 |
|
5 |
10423952 |
13/04/2013 |
907,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B74503806 |
|
6 |
10410461 |
19/02/2013 |
2,200,000.00 |
BMW INDIA FINANCIAL SERVICES PRIVATE LIMITED |
TOWER C, 14TH FLOOR, BUILDING NO. 10, DLF CYBER CITY, PHASE-II, GURGAON, HARYANA - 122002, INDIA |
B70307418 |
|
7 |
10400941 |
21/01/2013 |
1,325,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B67226548 |
|
8 |
10399244 |
31/12/2012 |
1,279,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B66553520 |
|
9 |
10399766 |
31/12/2012 |
11,220,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, AHMEDABAD, PARAMSIDDHI COMPLEX, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B66834722 |
|
10 |
10391446 |
01/12/2012 |
1,015,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B63923353 |
|
11 |
10391447 |
27/11/2012 |
2,330,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B63923833 |
|
12 |
10391444 |
24/11/2012 |
5,265,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B63922660 |
|
13 |
10385449 |
20/10/2012 |
1,300,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B61716692 |
|
14 |
10382558 |
24/09/2012 |
837,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B60470861 |
|
15 |
10371659 |
21/07/2012 |
740,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B56084734 |
|
16 |
10371654 |
20/07/2012 |
851,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B56084031 |
|
17 |
10354658 |
20/04/2012 |
531,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B39304696 |
|
18 |
10354648 |
20/04/2012 |
740,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B39301973 |
|
19 |
10354652 |
20/04/2012 |
740,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B39303250 |
|
20 |
10353213 |
12/04/2012 |
889,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B38779492 |
|
21 |
10353205 |
12/04/2012 |
972,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B38777538 |
|
22 |
10356340 |
02/04/2012 |
889,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B39858923 |
|
23 |
10356336 |
02/04/2012 |
972,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B39857644 |
|
24 |
10347006 |
27/03/2012 |
1,900,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B36779825 |
|
25 |
10347013 |
27/03/2012 |
1,900,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B36781193 |
|
26 |
10347016 |
27/03/2012 |
1,900,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B36781516 |
|
27 |
10336778 |
26/12/2011 |
737,550,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR, BIRLA TOWER, 25, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
B32639643 |
|
28 |
10330588 |
23/12/2011 |
859,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B30159594 |
|
29 |
10323812 |
12/12/2011 |
982,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B28099232 |
|
30 |
10319395 |
11/10/2011 |
673,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B25924572 |
|
31 |
10302625 |
28/07/2011 |
745,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B18964676 |
|
32 |
10299179 |
09/07/2011 |
641,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B17665936 |
|
33 |
10299176 |
09/07/2011 |
752,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B17664970 |
|
34 |
10294021 |
15/05/2011 |
3,644,784.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B15737349 |
|
35 |
10294028 |
15/05/2011 |
3,786,952.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B15738834 |
|
36 |
10294029 |
15/05/2011 |
4,383,450.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B15739360 |
|
37 |
10294032 |
15/05/2011 |
4,383,450.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B15740095 |
|
38 |
10294034 |
15/05/2011 |
9,999,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B15740608 |
|
39 |
10294026 |
15/05/2011 |
19,998,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B15738289 |
|
40 |
10287479 |
29/04/2011 |
639,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B13034822 |
|
41 |
10275580 |
19/03/2011 |
1,501,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B08778193 |
|
42 |
10270483 |
18/02/2011 |
727,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B07464753 |
|
43 |
10269496 |
03/02/2011 |
649,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B06606313 |
|
44 |
10271671 |
28/01/2011 |
1,548,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B05321252 |
|
45 |
10245768 |
08/10/2010 |
554,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A96439005 |
|
46 |
10245797 |
08/10/2010 |
1,992,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A96438627 |
|
47 |
10242473 |
13/09/2010 |
737,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A94984119 |
|
48 |
10242472 |
13/09/2010 |
932,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A94983749 |
|
49 |
10241571 |
30/08/2010 |
1,198,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A94774742 |
|
50 |
10241957 |
19/08/2010 |
511,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A94776358 |
|
51 |
10241580 |
19/08/2010 |
543,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A94780012 |
|
52 |
10241583 |
19/08/2010 |
908,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A94781812 |
|
53 |
10241579 |
19/08/2010 |
4,523,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A94779634 |
|
54 |
10232837 |
21/04/2012 * |
51,250,000,000.00 |
INDIAN BANK |
210, B - WING, MITTAL TOWER, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B37963279 |
|
55 |
10233028 |
21/04/2012 * |
700,000,000.00 |
UNIT TRUST OF INDIA INVESTMENT ADVISORY SERVICES L |
UTI TOWER GN BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA |
B39474432 |
|
56 |
10164549 |
21/04/2012 * |
800,000,000.00 |
UNIT TRUST OF INDIA INVESTMENT ADVISORY SERVICES L |
UTI TOWER GN BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA |
B39474630 |
|
57 |
80016779 |
05/06/2009 * |
32,550,000,000.00 |
INDIAN BANK |
210, B-WING, MITTAL
TOWER, NARIMAN POINT, MUMBAI - 400021, |
A63923403 |
|
58 |
80016799 |
02/02/1995 |
114,000,000.00 |
UNION BANK OF INDIA |
SECTOR 17, PLOT NO 314, GANDHINAGAR - 382017, GUJARAT, INDIA |
- |
|
59 |
80016801 |
02/02/1995 * |
25,500,000.00 |
UNION BANK OF INDIA |
SECTOTR 17, GANDHINAGAR - 382017, GUJARAT, INDIA |
- |
* Date of Charge Modification
LITIGATION DETAILS
|
HIGH COURT OF GUJARAT TAX APPEAL No. 874 of 2008 |
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Status: PENDING
(Converted from : ST/1513/2008) CCIN No : 001092200800874 Last Listing Date: 09/02/2009 Coram: HONOURABLE THE
CHIEF JUSTICE MR. K.S.RADHAKRISHNAN HONOURABLE MR.JUSTICE AKIL
KURESHI |
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S.NO. |
Name of the Petitioner |
Advocate On Record |
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COMMISSIONER OF INCOME TAX |
MR SUDHIR M MEHTA for: Appellant(s) |
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S.NO. |
Name of the Respondant |
Advocate On Record |
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1 |
KALPATARU POWER TRANSMISSION COMPANY LIMITED |
MR MANISH J SHAH for :Opponent(s) |
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Presented On : 24/04/2008 Registered
On : 24/04/2008 Bench Category : SINGLE BENCH District : AHMEDABAD Case Originated From: THROUGH ADVOCATE Listed : 2 times Stage Name : FOR FINAL
HEARING - TAX MATTERS Classification -
DB – OJ- TAX APPEAL – INCOME TAX ACT, 1961 –
APPEAL TO HIGH COURT – U/S 260 OF IT ACT – LONG TERM CAPITA GAIN – U/S 54EA
Act - INCOME-TAX ACT,
1961 |
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15/08/2008 |
VAKALATNAMA |
MR MANISH J SHAH ADVOCATE |
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MR MANISH J
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2 |
15/08/2008 |
VAKALATNAMA |
MR SUDHIR M MEHTA ADVOCATE |
- |
MR SUDHIR M
MEHTA:1 |
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3 |
04/05/2009 |
VAKALATNAMA |
MR MANISH J SHAH ADVOCATE |
5 |
MR MANISH J
SHAH:1 |
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4 |
05/05/2012 |
APPEARANCE NOTE |
MR SUDHIR M MEHTA ADVOCATE |
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MR SUDHIR M
MEHTA:1 |
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Court
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Coram |
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1 |
09/02/2009 |
1 |
- |
FOR FINAL HEARING - TAX MATTERS |
RULE/ADMIT |
· HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN · HONOURABLE MR.JUSTICE AKIL KURESHI |
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Available Orders |
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CAV |
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1 |
TAX APPEAL/874/2008 |
· HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN · HONOURABLE MR.JUSTICE AKIL KURESHI |
01/04/2009 |
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Document |
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1 |
MRS MAUNA M BHATT |
ORDINARY |
02/04/2009 |
O/10021/2009 |
01/04/2009 |
06/04/2009 |
08/04/2009 |
Delivered |
- |
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CHARGES
|
ENTITY |
PERSON |
COMPETENT AUTHORITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
|
KALPATARU POWER TRANSMISSION LIMITED |
|
CBEC |
DEFAULTED IN PAYMENT OF CUSTOMS/EXCISE DUTIES |
NOTICE ISSUED UNDER SECTION 142 OF CUSTOMS ACT, 1962 |
|
|
KALPATARU POWER TRANSMISSION LIMITED |
|
BSE |
DID NOT SUBMIT SHAREHOLDING PATTERN UNDER PROVISIONS OF CLAUSE
35 FOR THE QUARTER ENDED 31-MARCH-2008 |
PUT UP ON BSE WEBSITE FOR PUBLIC NOTICE |
NOT APPEARING IN THE LIST FOR THE QUARTER ENDED
30-JUNE-2008 |
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short term
borrowings |
|
|
|
Loans repayable on demand from Banks |
684.419 |
1715.230 |
|
Total |
684.419 |
1715.230 |
MANAGEMENT
DISCUSSION AND ANALYSIS
ECONOMIC OVERVIEW
Post tough 2011, the
year 2012 started on a very somber note. After a sharp slowdown in the global
growth momentum in 2011 to 3.8% from 5.2% in 2010, most economists predicted a
further slowdown to 3.3% with little
positive
expectations from any major economy. Despite such low expectations, the global
economy grew even a
tad lower at 3.2%,
mostly due to sharp slowdown in the emerging economies during the year to 5.1%
against the
projected growth
of 5.4% at the start of the year.
On the positive
side, after witnessing high volatility for nearly two years, timely policy
actions after a leadership change in ECB and in a few of the Euro member
countries brought much needed stability to region’s debt and currency market.
Going forward,
while there are several downside risks like US fiscal cliff, renewed setback in
Euro area and Chinese slowdown that can derail the growth momentum, the global
growth is expected to gradually strengthen. As per IMF projection, the global
economy is expected to grow by 3.5% and 4.1% in 2013 and 2014, respectively.
Indian economic
growth continued to remain weak and the economy grew at a decade low rate of
less than 5%, much lower than the estimated growth rate of 6.7% at the start of
the financial year.
Lately Government
and Central Bank have taken policy decisions to attract foreign inflows, boost
investors sentiment and increase infrastructure spending, therefore, it is
expected that the growth momentum will be back on track in near future.
INDUSTRY OVERVIEW
TRANSMISSION AND DISTRIBUTION
GLOBAL
Globally, nations
are committing increasing investments to develop modern, efficient, reliable,
secure and wellnetworked transmission infrastructure. The key factors that are
driving investment demand of transmission infrastructure in the developed economies
include integration of lower carbon fuel and renewable energy plants. The
thrust is also on enhancement of grid reliability and security. Developing
economies and many countries in the Middle East region are expanding the
capacity of their transmission networks to increase penetration and meet
growing demand of their people. Many African economies are also investing in
new electricity networks to serve growing demand of their population and also
to efficiently utilize the regional energy resources. As per Global
Transmission research (Jan 2013 research report), over the next three years,
globally around 316,775 km of new transmission lines (of over 220 kV and above
voltage levels) are likely to be built.
NORTH AMERICA
In North America,
due to expected decline in electricity consumption over the next few years,
high profile projects
have been
deferred. Over the longer term, the region is expected to make considerable
investment to build its inter-regional transmission link. Over the next three
years, around 20,349 km of additional lines are expected to
be added in the
region including 634km of cross border lines.
ASIA
In Asia, around
63% of the total estimated transmission lines between 2013-15 are expected to be
added. Many of these are inter-regional projects that are trying to connect
huge hydro-electric power generation capacity of surplus central Asian
countries with power deficit South-East Asian countries through regional links.
The changing regulatory environment, unshackling of transmission network away
from utilities and unbundling of fixed tariff structure is resulting in
increasing participation of private companies in the region. Overall around
200,304 km of transmission lines are expected to be added in the region of
which around 760km are expected to be cross-border transmission lines.
AFRICA
In Africa,
countries are investing to build their intra-regional network and cross-border
projects. The region is also
witnessing
increase in overall electricity consumption, which is also driving the demand
for new transmission network. A total of 23,274 km of transmission line length
is expected to be added during the period 2013-15. This
includes around
5,830 km of cross-border line addition.
MIDDLE EAST
Soaring demand and
rapid industrial development enabled the countries in the Middle East region to
continue in their sphere as the most dynamic power sectors in the world. The
consumption of electricity in the Middle East region has been growing continuously
and is further poised to grow at even faster pace in the next decade.
The governments in
these countries have liberalized policies pertaining to the electricity sector
and are currently in the process of formulating privatization strategies. This
has attracted significant investments in the private sectors of the Middle East
countries. The privatization of the electricity sector will not only strengthen
their power
generation
infrastructure, but will also facilitate towards efficient management of transmission
and distribution, providing a desired balance between power demandsupply
mechanisms. New transmission lines of 8,769 km are expected to be added during
the period between 2013-15.
CIS
Energy is a key
sector with important implications for growth and macroeconomic stability in
several CIS countries. Over the last few years, several processes have been
shaping the internal dynamics of energy sector development in the CIS,
macroeconomic outcomes in these countries and prospects for co-operation in the
energy sphere between the EU and CIS. The CIS energy sector has attracted
substantial FDI inflows, in many countries being the primary target of foreign
investors.
Europe and CIS,
countries are to build single Europe union
wide energy market
by 2014, to achieve this goal cross border electricity connection has been
planned. Large work on developing and strengthening the integrating processes
between CIS states has been carried out, which will assist in stabilizing the
situation.
DOMESTIC
In India, the
government has moved its focus from increasing the generation capacity of power
to improve the efficacy of Transmission and Distribution (TandD). Government’s
higher thrust on TandD is also justifiable via the 12th five year plan. In this
plan, the TandD spend has been increased to 56% from 51% in XI Plan, on the
total spending on power sector. Earlier, lower TandD infrastructure investments
have led to high power losses to the tune of around 30%.
The investment
target for the transmission segment alone for the Twelfth and Thirteenth
Five-Year plan has been increased to INR 1.8 Tn and INR 2.3 Tn, respectively.
Of this, around INR 1 Tn of investment is expected from PGCIL alone in the
Twelfth Five-Year plan. PGCIL plans to increase its transmission capacity from
28GW in FY’12 to 63GW by FY’17.
During the year,
the cabinet committee of economic affairs (CCEA) approved restructuring of
state electricity boards. The 1.9 lakh crore debt restructuring would help to
turn around near - bankrupt power Distribution Company. In June 2013, Tamil
Nadu became the first state to restructure debt of its power distribution
companies and issued bonds worth INR 6,144 crore in the first phase of
restructuring.
Also, to tap
increasing disparity in the regional demandsupply, there has been a gradual
movement towards creating a strong inter-regional high voltage transmission
backbone. To boost this momentum and create Transmission Super Highways, the
government has allowed private sector participation in the transmission sector.
State level utilities have been encouraged to develop the intra state
transmission system under Viability Gap Funding Scheme of central government
through Public Private Partnership. The government has been enabling private
participation in the sector through Joint Venture (JV) Partner and Independent
Private Transmission Company (IPTC) Route. In case of JV CTU/STU shall own at
least 26% equity while for IPTC 100% equity would be owned by private entity.
Considering the
Central Government focused approach to bring back economy on track,
infrastructure spending should go up and in turn it will lead to resolving the
issues of coal supplies, land acquisition, tariff revision etc., hence spending
on transmission and distribution will again pick up as country like India
cannot sustain slowdown because of its demography, population and consumption
needs for which infrastructure is the backbone
OIL AND GAS PIPELINE
Globally,
countries are now favoring pipeline to transfer oil, gas and other products.
While pipeline infrastructure calls for much higher initial capex, it lowers
the cost of transportation and transit loses. It is also more reliable,
environment friendly and energy efficient than the other modes of transportation.
As per the estimates of a global
research firm,
GlobalData, the global oil and gas trunk pipeline length is expected to
increase by 104,884 km during 2011–2015. Around half of this planned addition
would come from just five countries viz. Russia, India, USA, China and Canada.
India is among the
top four energy consumers in the world. According to PwC Petrotech October 2012
report, India has a pipeline infrastructure of 19,300 km for crude oil, 16,293
km for gas and 15,903 km for other products. India has one of the least
penetrated gas pipeline networks in the world. The pipeline spread in India is
just 0.003km/sq, which is much lower than 0.19 km/sq in US and 1.08 km/ sq in
UK. India’s gas pipeline infrastructure is expected to increase to 31,000 km by
2017.
In the XII plan, the planning commission have
nearly trebled the planned spend for Oil and Gas Pipelines to INR 1,489 Bn from
INR 507 Bn in the XI plan and against actual spend of INR 625 Bn. The actual
spend in X plan was INR 234 Bn.
RAILWAYS
While during the
six decades post Independence there has not been much new additions to the
Indian Railways, the Indian Railways intends to expand railway infrastructure
by nearly 40% by 2020. The high estimated expenditure of INR 5.19 lakh crore
would be funded through a mix of government funding and Public Private
Partnerships (PPP). During the fiscal, the railway ministry announced highest
ever plan outlay of INR 633.6 Bn and a target to add 500 km new lines, 750km
doubling, 450 km gauge conversion and 1200 km electrification. The ministry
earmarked a target investment of INR 10 Bn each for Rail Land Development
Authority and IR Station Development Corporation and plans to raise the same
through PPP route. The budget also introduced train protection warning signal
on automatic signaling system and plan to set up a modern signaling equipment
facility at Chandigarh through PPP route. As per the railway budget, the
railway is likely to award a civil construction contract to cover around 1,500
km of Eastern and Western Freight Corridors during the financial year 2013-14.
LOGISTICS AND WAREHOUSING
The Indian
logistics industry is growing by 10%-12% per annum and is currently estimated
at USD 100-125 Bn. The warehousing is a key logistics segment. As of March
2011, India had a warehouse space of around 1,800-2,000 million sq. ft. Most of
these were less than 10,000 sq. ft. much lesser than the common size of 250,000
to 1 million sq. ft. in US and Europe.
The logistic cost
in India at 13% of GDP is much higher than 5%-7% of the GDP in the developed
countries and highlights the inefficiencies within the industry. Unlike most
developed countries, where most food wastage happens at the end consumer level,
in India there is a loss of around INR 50 - 60 Bn of food grains, oil seeds,
pulses, vegetables, fruits during transit and inadequate and improper storage
facilities. In 2013 budget, the government has sanctioned INR 5,000 crore
through NABARD for financing construction of warehouses, godowns, silos and
cold storage units designed to store agricultural produce, both in the public
and the private sectors. The earlier measures taken by the government such as
implementation of warehousing act 2007 and introduction of GST should provide
further fillip to the sector.
SEGMENT WISE OPERATIONAL PERFORMANCE
The Company has
two primary business segments: Transmission and Distribution and Infrastructure
EPC.
The revenue of the
Company can be divided geographically in two different segments - Sales within India
and Sales outside India. Out of the total revenue (Net of Excise Duty) of INR
33.35 Bn for FY’13, revenue from India is INR 20.41 Bn (61%) and revenue from
outside India is INR 12.94 Bn (39%).
Other segments
mainly include generation and sale of power being produced from two power
generation plants in
Rajasthan, which
has contributed a revenue of INR 541 Mn during the last year.
Transmission and Distribution Segment (T and D) :
Segment’s revenue was higher by 12% at INR 29.57
Bn.
TandD is the core
business segment of the Company contributing 89% of the total revenue of the
Company. Division has been performing consistently well and sustaining
Company’s growth trajectory and going forward also it will remain the core area
for growth.
At the operational
level, the following are the major highlights for this segment:
• Production
(including outsourced) and dispatches of transmission line towers were at an
all-time high of 151,772 MT and 142,745 MT, respectively
• Over 105,000 MT
of transmission towers were erected at various domestic and international
locations
• Over 1400 CKM of
stringing work done to connect the grid to sub-station or sub-station to
sub-station
The segment has
secured following prestigious projects during the reporting period:
• Supply and
installation of 800 KV HVDC, 238 kms transmission Line from PGCIL.
• Supply and
installation of two projects of 132 KV D/C, 420 kms transmission line in
Uganda.
• Supply and
installation of 230 KV S/.C, 228 kms transmission line in Armenia (CIS
country).
• Supply and
installation of 138 KV S/C, 80 kms transmission line in Philippines.
• Supply and
Erection of 400 KV transmission lines of 160 kms in Bhutan. The project is
funded by Government of India.
• Supply and
Erection of 220 KV transmission line of 152 kms in Tajikistan. The project is
funded by Asian Development Bank.
• Supply and
Construction of 500Kv MAC MOH 3 THA TAKO Transmission line in Thailand.
• Supply and
Erection of 765 Kv S/C and D/C Gwalior-Jaipur Transmission Line from PGCIL.
• Supply and
Erection of Towers Package for 765 KV D/C Kurnool-Thiruvalam Transmission Line
from PGCIL.
This business
segment has secured orders worth INR 30 Bn during year. The order book position
can be divided into 40:60 for domestic and international. Out of this, majority
of orders are backed by price escalation clauses, which will to a large extent
protect them in the present uncertain market conditions.
The Company has
commenced commercial production at its Greenfield state-of-the-art facility at
Raipur, Chhattisgarh, to annually manufacture 55,000 MT of power transmission
towers. With this expansion, the Company’s total production capacity has
reached over 180,000 MT and the Company has become one of the largest tower
manufacturing Company of the world.
The Company has
also made successful entry into 6 new countries namely Saudi Arabia,
Tajikistan, Uganda, Bhutan, Thailand and Armenia and continues to keep its
focus on new markets and territories to expand its presence. The Company is
also focusing on sub-station EPC as part of TandD only and recently got initial
success.
Infrastructure Segment
The year remained
challenging for this segment on account of intense competition in domestic market
and limited number of tenders in international market.
During the year,
the Company has received orders worth INR 2.81 Bn for this segment.
With competition
being intense in core area of expertise, they have geared to enter into the
promising work of submarine pipelines, floating production and storage systems,
offshore pipeline services, process facilities and plants and fabrication
yards; all of which will help them in expanding their breadth and width in this
business. Apart from the domestic market, they are continuously focusing on the
overseas market.
The revenue in
this segment was reduced to INR 3.24 Bn as against revenue of INR 3.39 Bn in
the previous fiscal year.
Transmission BOOT Project
The first intra
state transmission DBFOT(Development of a 400 kV/220 kV transmission system for
the evacuation of electricity from the 2 x 660 MW thermal power plant at
Jhajjar, Haryana) project for Harayana Vidhyut Prasaran Nigam Ltd has been
commissioned by SPV of the Company and is running successfully above the
committed load level.
The Company is
successful in securing one more DBFOT project
from Madhya Pradesh State Electricity Board to built, own, operate and
transfer 240 Kms, 400 KV Double Circuit Power Transmission line between Satpura
to Ashta, under Viability Gap Funding for concession period of 25 years with
construction period of 15 months with optional extension of 10 years on annuity
basis.
SUBSIDIARIES
JMC Projects (India) Limited and its subsidiaries
(JMC):
JMC has reported
consolidated revenue of Rs.25.56 billion (USD 470 million) as against Rs.20.76
billion (USD 407 million), which is 23% higher than the previous year. Profit
before tax as well as profit after tax stood at Rs.62 million and Rs.86 million
as against Rs.576 million and Rs.452 million respectively.
JMC is executing 4
road projects on DBFOT basis, out of which 3 are for NHAI and one for MPRNL.
Out of 4 projects, 2 are expected to be commissioned in financial year 2013-14 and
other 2 are expected to be commissioned in financial year 2014-15. JMC has a
strong order book exceeding Rs. 56 billion (USD 1.03 billion). The company has
invested Rs. 2.19 billion in JMC and holds 67.19% stake.
Shree Shubham Logistics Limited (SSLL):
In reporting
period, SSLL has achieved a turnover of Rs. 2.43 billion as against Rs. 2.04
billion, registering a growth of 19%. SSLL reported profit of Rs. 146 million
as against Rs. 32 million.
SSLL has signed an
agreement with Tano India Private Equity Fund II to raise Rs. 0.8 billion to
fund its capacity expansion plan. Tano made a choice of SSLL as it follows a
differentiated and scalable model in the agri-logistics space.
Currently, SSLL is
operating and managing 90 warehouses (owned and leased) with storage capacity
of around 1.1 million Metric Tonnes and total floor plate area of around 6.0
Million Sq. Ft in the states of Rajasthan, Gujarat and Madhya Pradesh. The
company will expand this capacity to 1.5 million Metric Tonnes by end of this
financial year and to nearly 2 million Metric Tonnes over the next two to three
financial years with a pan India presence. At the year end, investment of the
Company in SSLL was Rs.2.11 billion as equity shares, preference share capital
and loan. SSLL is an 85% subsidiary of the Company.
Energylink (India) Ltd (ELL):
ELL plans to foray
into real estate business for which ELL has formed 100% subsidiary namely,
Saicharan Properties Limited which has land to implement commercial cum
residential project in Indore. This project is expected to commence
construction during financial year 2013-14.
At the year end,
investment of the Company in ELL was Rs.1.67 billion as capital and loan. ELL
is a Wholly Owned Subsidiary of the Company.
Amber Real Estate Limited (Amber):
Amber has created
a 0.32 Million Sq. Ft. of leasing space for IT/ Software Technology Park at
Thane, Mumbai at cost of Rs.1.60 billion, which has recently got occupancy
certificate. At the year end, investment of the Company in Amber was Rs.1.33
billion as capital and loan and it is a Wholly Owned Subsidiary of the Company.
Adeshwar Infrabuild Limited(Adeshwar):
Adeshwar was
incorporated to venture into new areas of business which can be conveniently or
advantageously run by company in the coming years which may include mining,
cement, etc. At the year end, investment of the Company in Adeshwar was Rs.
2.55 million as capital and loan. It is a Wholly Owned Subsidiary of the
Company.
Kalpataru Power Transmission-USA, INC.
This company was
incorporated to increase its focus on American markets with local presence.
Total income of the company for the year was Rs. 21.44 million with Loss of Rs.
9.87 million. The Company has invested Rs. 22.82 million as capital and loan in
this company. It is a Wholly Owned Subsidiary of the Company.
Kalpataru SA (Proprietary) Limited:
This Company was
formed in South Africa to bid for EPC Power Transmission jobs in South Africa.
The Company has invested Rs.6.40 million towards equity capital in this
company. It is a Wholly Owned Subsidiary of the Company.
Kalpataru Power Transmission Nigeria Limited:
This Company was
incorporated to explore the Power Transmission market in Nigeria. The company
has invested Rs. 8.25 million towards equity capital and loan in this company.
It is a Wholly Owned Subsidiary of the Company.
Kalpataru Power Transmission (Mauritius) Limited
(KPTML):
This Company was
incorporated to engage in investment holding activities. The Company has
invested Rs. 35.42 million as capital and loan in this Company. It is a Wholly
Owned Subsidiary of the Company. KPTML has a 100% wholly owned subsidiary in
Dubai, namely Kalpataru Power JLT in DMCC of UAE. KPTML has invested Rs. 32.64
million as capital and loan in this company.
Kalpataru Power Transmission International BV,
Netherland (KPTIBV). :
This Company was
incorporated as financial holding company. The Company has Rs. 34.80 million as
capital and loan in this Company. It is a Wholly Owned Subsidiary of the
Company. During the year, this company has formed a 100% wholly owned
subsidiary in Brazil, namely Kalpataru Industria E Commercio S.A., Brazil, in
which KPTIBV has invested Rs. 24.10 million as capital.
Kalpataru Power Transmission Ukraine:
This Company was
incorporated to explore and execute Power Transmission contracts in Ukraine.
The company made an investment of Rs.2.73 million towards equity capital in
this Company. It is a Wholly Owned Subsidiary of the Company.
BOARD OF DIRECTORS
Mr. Mofatraj P. Munot – Chairman
He is the promoter and chairman of Kalpataru Power Transmission Limited He also serves as the Chairman of Kalpataru Limited, Kalpataru Construction Overseas Private Limited and Caprihans India Limited He has a vast industry experience of close to five decades in Real Estate and Property Development, Civil Contracting and EPC across the industry spectrum. He founded the Kalpataru Group in 1969 and has been the guiding force behind the Group’s stellar success.
Mr. Parag Munot - Promoter Director
He has been serving as a Director since 1991. He is the Managing Director of Kalpataru Limited, the flagship real estate arm of the Group. He is responsible for Group’s Real Estate and Property Development business. At Group level, he provides strategic support and drives new business initiatives.
He holds a degree in Bachelor of Commerce and is a M.B.A. from the Carnegie Mellon University, USA.
Mr. K. V. Mani - Non-Executive Director
He is a seasoned professional in Transmission and Distribution business with more than four decades of unparallel experience in Construction, Project Management and Overseas Marketing. He has been associated with the Company for over a decade and has served as the Managing Director from 2001 to 2009. Since June 2009, he has been serving the Company as a Non-Executive Director.
He holds a degree in Engineering and is a M.B.A from IMD, Switzerland.
Mr. Ranjit Singh – Managing Director
Managing Director since November 2012, he is a strategy and leadership expert, with more than three decades of rich and extensive experience in international and multicultural business environment. His expertise includes New Business Development, Strategy and Planning, Thought Leadership, People Management, Investor Relations,
Supply Chain and Operational Management.
He holds a degree in Mechanical Engineering (BITS, Pilani) and PGDBM (IIM-Ahmedabad).
Mr. Manish Mohnot - Executive Director
He has been the Company’s Executive Director since November 2006 with almost two decades of experience in areas related to power, oiland gas, infrastructure, consulting, banking and business development. He has also been associated with reputed multinational banks and consulting firms.
He serves on the Board of various subsidiaries of the Company, namely JMC Projects (India) Limited and Shree Shubham Logistics Limited He is a qualified Chartered Accountant and a Cost Accountant.
Mr. Sajjanraj Mehta - Independent Director
He has been serving the Company as an Independent Non-Executive Director since July, 1998. A renowned senior professional and expert in the field of Accounting, Tax and Corporate law; he has over 37 years of experience and serves as consultant in the field of Foreign Exchange, Taxation and Corporate Affairs to well-known companies.
He is a Chartered Accountant by profession and has an independent consultancy firm.
Mr. S. P. Talwar - Independent Director
He is a prominent name in the banking industry and has served as chairman of Oriental Bank of Commerce, Union Bank of India and Bank of Baroda and as the Deputy Governor of RBI for a period of 7 years. He is currently serving as the senior advisor to YES Bank and is on the Board of various well-known listed companies.
He has an experience of more than 40 years in Operational and Policy formulation. He is an expert in the matters of Banking, Economics, Policy and Planning.
Mr. Mahendra G. Punatar - Independent
Director,
With a career spanning more than 50 years in transmission line, he is an industry veteran and has been instrumental in the growth of KPTL in its initial years from 1986 to 2001 having served as the Managing Director. From 2001 till 2009 he has served as a Vice Chairman (Executive and Non Executive) of KPTL. He is also an Independent Director of JMC Projects (India) Limited since January, 2006. He holds Masters in Structural Engineering from University of Michigan, U.S.A.
Mr. Vimal Bhandari -
Independent Director
He has over 25 years of experience in financial services industry. He is currently serving as the Managing Director and Chief Executive Officer of Indostar Capital Finance Private Limited, prior to which he was the Country Head of AEGON N.V. He has also served as an Executive Director of ILandFS Limited for a period of 12 years and is also on the Board of many prominent Indian companies.
He is Commerce Graduate from Mumbai University and a Chartered Accountant by qualification. He attended Advanced Management Programs at the International Institute of Management, Lausanne, Switzerland, as a part
of his continuing professional education.
Mr. Narayan Seshadri - Independent Director
He has over 25 years of consulting experience in the field of finance, accounts, tax and business strategy. He was
KPMG India’s Managing Partner heading the Business Advisory practice.
He is the founder of Tranzmute Capital and Management Private Limited, established with the objective of providing new ideas, management and capital to first generation entrepreneurs and family businesses. He is also on the Board of many prominent Indian companies.
He is a Science Graduate and a qualified Chartered Accountant.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
i) Bank guarantees given by the Company |
176.047 |
46.611 |
|
ii) Claims against Company not acknowledged as debt |
248.263 |
40.701 |
|
iii) Bonds/Undertakings given by the Company to Customs for Exemption / concessional duty |
348.569 |
161.109 |
|
iv) Notices / Demands by Excise / Income Tax / Stamp Duty and other Tax/ Revenue Authorities, disputed by the company |
346.766 |
4.351 |
|
v) Demand of Service Tax & Penalty disputed before Appellate authority already stayed unconditionally |
175.770 |
175.770 |
|
vi) VAT/WCT demands disputed in Appeals |
24.544 |
40.456 |
|
vii) Bills Discounted |
826.329 |
754.778 |
|
viii) Guarantees and Letter of Comfort on behalf of a Subsidiary Company |
0.000 |
100.000 |
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE,
2013
(Rs.in millions)
|
Sr. No. |
Particulars |
Standalone |
|
|
For Quarter
Ended |
|
|
|
30.06.2013 (Unaudited) |
|
|
|
|
|
|
|
PART-I STATEMENT OF
FINANCIAL RESULTS |
|
|
1 |
Income from
Operations |
|
|
|
(a) Net Sales/Income from Operations (Net of Excise duty) |
8795.900 |
|
|
(b) Other Operating Income |
100.100 |
|
|
Total Income from Operations (net) |
8896.000 |
|
2 |
Expenses |
|
|
|
Cost of materials consumed |
4124.900 |
|
|
Purchase of stock-in-trade |
0.000 |
|
|
Changes in inventories of finished goods, Work-in-Progress and Stock-in-trade |
(226.800) |
|
|
Erection & Sub-Contracting Expenses |
2436.200 |
|
|
Employee Benefits Expense |
581.500 |
|
|
Depreciation & Amortisation Expense |
159.000 |
|
|
Other Expenditure |
1060.400 |
|
|
Total Expenses: |
8135.200 |
|
3 |
Profit/(Loss) from Operations before Other Income, finance cost and Exceptional Items (1-2) |
760.800 |
|
4 |
Other Income |
133.400 |
|
5 |
Profit/(loss) from ordinary activities before finance cost
and Exceptional Items (3+4) |
894.200 |
|
6 |
Finance Costs |
382.500 |
|
7 |
Profit/(Loss) from ordinary activities after finance cost
but before Exceptional Items (5-6) |
511.700 |
|
8 |
Exceptional Items |
0.000 |
|
9 |
Profit/(Loss) from Ordinary Activities before Tax (7-8) |
511.700 |
|
10 |
Tax Expense |
165.000 |
|
11 |
Net Profit /(Loss) from Ordinary Activities after Tax
(9-10) |
346.700 |
|
12 |
Extraordinary Items (net of tax expense Rs. In millions) |
0.000 |
|
13 |
Net
Profit(+)/Loss(-) for the period (11-12) |
346.700 |
|
14 |
Paid Up Equity Share Capital (Face Value of Rs. 2/- each) |
306.900 |
|
15 |
Reserve excluding Revaluation Reserves as per Balance
sheet of previous accounting year |
|
|
16.i |
Earnings Per Share (EPS) (before extraordinary items) (of Rs. 2/- each) (not annualised) |
|
|
|
(a)
Basic |
2.26 |
|
|
(b) Diluted |
2.26 |
|
16.ii |
Earnings Per Share (EPS) (after extraordinary items) (of Rs. 2/- each) (not annualized) |
|
|
|
(a)
Basic |
2.26 |
|
|
(b) Diluted |
2.26 |
|
|
|
|
|
PART-II SELECT INFORMATION FOR THE
QUARTER ENDED 30.06.2013 |
||
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
1 |
Public Shareholding |
|
|
|
No. of Shares |
64399376 |
|
|
Percentage (%) of Shareholding |
41.97 |
|
2 |
Promoters and Promoter Group Shareholding |
|
|
|
a)Pledge/Encumbered |
|
|
|
No. of Shares |
46424601 |
|
|
Percentage of Shares (as a % of the total Shareholding of promoter and promoter group) |
52.13 |
|
|
Percentage of shares (as a % of the total Share Capital of the Company) |
30.25 |
|
|
b)Non-encumbered |
|
|
|
No. of Shares |
42636593 |
|
|
Percentage of Shares (as a % of the total Shareholding of promoter and promoter group) |
47.87 |
|
|
Percentage of shares (as a % of the total Share Capital of the Company) |
27.78 |
|
|
Particulars |
3 months ended 30.06.2013 |
|
|
INVESTOR COMPLAINTS |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
Nil |
|
|
Disposed of during the quarter |
Nil |
|
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER
ENDED 30TH JUNE, 2013
(Rs. In millions)
|
Sr. No. |
Particulars |
Standalone |
|
For Quarter Ended |
||
|
30.06.2013 (Unaudited) |
||
|
A |
Segment Revenue |
|
|
|
a) Transmission & Distribution |
8226.200 |
|
|
b) Infrastructure EPC |
548.000 |
|
|
c) Others |
121.800 |
|
|
TOTAL: |
8896.000 |
|
|
Less: Inter Segment Revenue |
|
|
|
Net Sales / Income from Operations |
8896.000 |
|
B |
Segment Results Profit (+) / Loss (-) before tax &
Finance cost |
|
|
|
a) Transmission & Distribution |
830.500 |
|
|
b) Infrastructure EPC |
(67.600) |
|
|
c) Others |
0.600 |
|
|
TOTAL: |
763.500 |
|
|
Less: Finance cost |
382.500 |
|
|
Add: Other un-allocable income net off
un-allocable expenditure |
130.700 |
|
|
Total Profit Before Tax |
511.700 |
|
C |
Capital Employed [Segment Assets -Segment Liabilities] |
|
|
|
a) Transmission and Distribution |
14575.800 |
|
|
b) Infrastructure EPC |
3838.500 |
|
|
c) Others |
662.300 |
|
|
d) Unallocable |
7439.400 |
|
|
TOTAL |
26516.000 |
Note:
The above results were reviewed by the Audit Committee and recommended for approval of the Board and approved by the Board at their meeting held on 25th July, 2013.
The Statutory Auditors of the Company have conducted a "limited review" of the above financial results.
Figures for the Quarter ended March 31, 2013 are the balancing figures between audited figures in respect of full financial year ended March 31,2013 and year to date figures upto the third quarter of that financial year.
The previous Period's/Year's figures have been regrouped/ rearranged wherever considered necessary.
FIXED ASSETS
v Tangible Assets
·
Leasehold Land
·
Freehold Land
·
Buildings
·
Plant and Equipment
·
Electric Installation
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
v Intangible Assets
·
Software (Other than internally generated)
PRESS RELEASES
KPTL ACHIEVED
REVENUE GROWTH OF 27%
KPTL ACHIEVED NET
PROFIT GROWTH OF 27%
JMC PROJECTS ACHIEVED
REVENUE GROWTH OF 19%
KPTL AND JMC WON
NEW ORDERS IN EXCESS OF RS 15000.000 MILLIONS
CONSOLIDATED ORDER
BOOK IN EXCESS OF RS 124000.000 MILLIONS
Gandhinagar, July 25, 2013
Kalpataru Power
Transmission Limited (KPTL), a leading global EPC player in power T&D
sector has announced its results for quarter ended June 30, 2013. Below are the
key highlights of the results
KPTL
· Revenue for the quarter is Rs 8896.000 millions as compared to Rs 6994.000 millions in the corresponding quarter of previous year, an increase of 27%.
· Earning Before Interest, Depreciation, Tax and Ammortisation (EBIDTA) excluding other income is Rs 920.000 millions as compared to Rs 728.000 millions in the corresponding quarter of previous year, an increase of 26%.
· Profit before tax for the quarter is Rs 512.000 millions as compared to Rs 401.000 millions in the corresponding quarter of previous year, an growth of 28%.
JMC Projects
· Revenue for the quarter is Rs 6767.000 millions as compared to Rs 5684.000 millions in the corresponding quarter previous year, an increase of 19%.
· Earning Before Interest, Depreciation, Tax and Ammortisation (EBIDTA) excluding other income is Rs 325.000 millions as compared to Rs 273.000 millions in the corresponding quarter of previous year, an increase of 19%.
· Profit before tax for the quarter is Rs 38.000 millions as compared to Rs 31.000 millions in the corresponding quarter of previous year, an growth of 21%.
Shree Shubham
Logistics Limited
· Revenue for the quarter is Rs 651.000 millions as compared to Rs 379.00 millions in the corresponding quarter of previous year, an increase of 72%.
· Earning Before Interest, Depreciation, Tax and Ammortisation (EBIDTA) excluding other income is Rs 940.000 millions as compared to Rs 51.000 millions in the corresponding quarter of previous year, an increase of 86%.
· Profit after tax for the quarter is Rs 68.000 millions as compared to Rs 40.000 millions in the corresponding quarter of previous year, an increase of over 14 times.
Order Book
As on June 30, 2013, company
has consolidated order book of above Rs 124000.000 millions
· KPTL has order book of over Rs 73000.000 millions including new orders worth over Rs 11300.000 millions received during the quarter
· JMC Projects has order book of over Rs 51000.000 millions including new orders worth over Rs 3500.000 millions received during the quarter
Other Developments
· Company has signed transmission agreement with MP Power Transmission Company Limited (MPPTCL) to develop a transmission line BOOT project. The project scope involves designing, financing, construction, commissioning, operate, and maintenance of 240 kms of 400 KV Satpura – Ashta transmission line for the period 25 years with an extension of 10 years on annuity basis.
· KPTL’s subsidiary Shree Shubham Logistics Limited has received Rs 800.000 millions from Tano India Private Equity Fund II to fund its capacity expansion plans.
· Company’s latest tower manufacturing plant with a capacity of 55,000 MTs p.a. at Raipur is operating at full load. Company plans to manufacture over 50,000 MTs in the current year i.e. first year of commercial operation.
Commenting on the results, Mr Manish Mohnot (Executive Director) said :
“Our first quarter results are in-line with estimates, with a decent growth in revenues along with a healthy margin. We have been successful in expanding our international order book which today accounts for more than 50% of KPTL’s order book”.
COMPANY RECEIVED NEW ORDERS OF OVER RS 11300.000 MILLIONS
Mumbai, June 27, 2013
KPTL SIGNED TRANSMISSION AGREEMENT FOR DEVELOPMENT OF 400 KV SATPURA – ASHTA DCDS TRANSMISSION LINE UNDER PPP MODEL.
Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in power and infrastructure contracting sector has secured new orders worth over Rs 11300.000 millions, the brief details are as follows
·
Supply and Erection of two projects consisting
330 KV transmission line of 466 kms of over Rs 5000.000 millions in Zambia
·
Supply and Erection of 765 KV D/C transmission line
of 140 kms of around Rs 3300.000 millions from PGCIL
·
Supply and Erection of 400 KV Satpura – Ashta
DCDS transmission line of around 240 kms of over Rs 3000.000 millions from
company’s 100% SPV to construct transmission line for Madhya Pradesh Transmission
Company Limited (MPPTCL), Jabalpur, MP
The company has signed transmission agreement with MP Power Transmission Company Limited (MPPTCL) to develop a transmission line BOOT project. The project scope involves designing, financing, construction, commissioning, operate, and maintenance of 240 kms of 400 KV Satpura – Ashta transmission line for the period 25 years with an extension of 10 years on annuity basis.
Commenting on the announcements, Mr Ranjit Singh (Managing Director) said :
“We continue to hold strong presence in Africa region by winning the latest Zambia project, along with maintaining a good share in PGCIL contracts. The MP TL BOOT project holds strategic importance for the company’s growth plans in terms of improving ROE’s, sustainable growth and right asset allocation. Our judicious approach in taking BOOT projects is evident from the fact that, we have taken second project only after successfully starting operations of first project”
KPTL (CONSOLIDATED) ACHIEVED REVENUE GROWTH OF 15% IN FY13
JMC PROJECTS ACHIEVED REVENUE GROWTH OF 23%
KPTL AND JMC WON NEW ORDERS IN EXCESS OF RS 18000.000 MILLIONS IN
Q4FY13
CONSOLIDATED ORDER BOOK IN EXCESS OF RS 124000.000 MILLIONS
Mumbai, May 16, 2013
Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in power T&D sector has announced its results for quarter and year ended March 31, 2013.
KPTL Consolidated
results – FY13
·
Revenue for the year is Rs 60850.000 millions as
compared to Rs 53020.000 millions in the previous year.
·
Profit after tax for the year is Rs 1345.000
millions as compared to Rs 2040.000 millions in the previous year.
KPTL Standalone
results – FY13
·
Revenue for the year is Rs 33354.000 millions as
compared to Rs 30327.000 millions in the previous year.
· Profit after tax for the year is Rs 1377.000 millions as compared to Rs 1649.000 millions in the previous year.
JMC Projects (67% subsidiary) Standalone results – FY13
·
Revenue for the year is Rs 25419.000
millions as compared to Rs 20703.000 millions in the previous year.
·
Profit after tax for the year is Rs 183.000
millions as compared to Rs 519.000 millions in the previous year.
Shree Shubham Logistics Ltd (85%
subsidiary) – FY13
·
Revenue for the year is Rs 2319.000 millions as
compared to Rs 2030.000 millions in the previous year, growth of 14%.
· Profit after tax for the year is Rs 146.000 millions as compared to Rs 32.000 millions in the previous year, growth of 5 times.
Order Book
As on March 31, 2013, company has consolidated order book of above Rs. 124000.000 millions.
·
KPTL has order book of over Rs 6,800 crore
including new orders worth over Rs. 8000.000 millions received during the
quarter. Company has entered into 2 new countries i.e. Bhutan and Tajikistan.
·
JMC Projects has order book of over Rs 56000.000
millions including new orders worth Rs 10100.000 millions received during the
quarter. Company has forayed into international markets by securing a road EPC
contract in Ethiopia.
Other Developments
·
KPTL has expanded manufacturing capacity to
180,000 MT’s per annum by setting up green-field tower manufacturing plant of
55,000 MT’s at Raipur.
· KPTL’s subsidiary Shree Shubham Logistics Limited, has signed an agreement with Tano India Private Equity Fund II to raise Rs 800.000 millions to fund its capacity expansion plans.
Commenting on the results, Mr Manish Mohnot (Executive Director) said “Our
focus in this year is to maintain growth momentum with better profitability and
to improve ROCE. For the purposes a lot of steps has been taken, which will
start yielding results very soon”.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.59.83 |
|
UK Pound |
1 |
Rs.91.76 |
|
Euro |
1 |
Rs.79.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.