MIRA INFORM REPORT
|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
STERLITE TECHNOLOGIES LIMITED (w.e.f. 14.07.2007) |
|
|
|
|
Formerly Known
As : |
STERLITE OPTICAL TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 68 / 1, Rakholi Village, Madhuban Dam Road, Silvassa – 396
230, Dadar Nagar Haveli |
|
|
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.03.2000 |
|
|
|
|
Com. Reg. No.: |
54-000340 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.786.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300DN2000PLC000340 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS01199C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS8719B |
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|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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|
|
|
Line of Business
: |
The company is primarily engaged in the manufacture and sale of Power and Telecom products and solutions. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
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 47310000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Twin Star Overseas Limited, Mauritius. Subject is well established company having a fine track record. The company
has achieved better growth in its revenue and profits during 2013. Net worth of the company appears to be satisfactory. Trade relations
are reported as fair. Business is active. Payment are reported to be regular
and as per commitments. The company can be considered good for business dealing at regular
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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 BY
|
Name : |
Mr. R Ramesh |
|
Designation : |
Deputy Accounts Manager |
|
Contact No.: |
91-260-6612000 |
|
Date : |
25.07.2013 |
LOCATIONS
|
Registered Office/Factory 1 : |
Survey No. 68 / 1, Rakholi Village, Madhuban Dam Road, Silvassa – 396
230, Dadar Nagar Haveli, India |
|
Tel. No.: |
91-260-6612000 |
|
Fax No.: |
91-260-6612013 |
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E-Mail : |
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|
Website : |
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|
Corporate Office : |
4th Floor Godrej Millenium 9, |
|
Tel. No.: |
91-20-30514000 |
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Fax No.: |
91-20-26138083 |
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E-Mail : |
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|
|
|
Factory 2 : |
Optical Fiber, E2, E3, MIDC, Waluj, Aurangabad-431136, |
|
Tel. No.: |
91-240-2564599 |
|
Fax No.: |
91-240-2564598 |
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|
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Factory 3 : |
Optical Fiber, AL-23, Shendra MIDC SEZ, |
|
Tel. No.: |
91-240-2622020 |
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Fax No.: |
91-240-2564598 |
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|
|
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Factory 4 : |
Copper Telecom Cables and Structured Data Cables, Survey No. 33 / 1 /
1, |
|
Tel. No.: |
91-260-6452959 |
|
Fax No.: |
91-260-6612122 |
|
|
|
|
Factory 5 : |
Power Transmission Conductors, Survey No. 99, Rakholi Village,
Madhuban Dam Road, Silvassa – 396230, Union Territory of Dadra and Nagar
Haveli, India |
|
Tel. No.: |
91-260-6612200 |
|
Fax No.: |
91-260-6612260 |
|
|
|
|
Factory 6: |
Plot 2D, Sector 10, IIE SIDCUL, Haridwar – 249403, |
|
Tel. No.: |
91-1334-239463 |
|
Fax No.: |
91-1334-239375 |
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|
|
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Factory 7: |
Burkhamunda, Jharsuguda - 768 202, |
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|
|
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Factory 8 : |
Power Cables, No. 5, Vardhaman Industrial Estate, Haridwar – 249 402, |
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Sales, Marketing and Representative Offices: |
Located at: ·
· India ·
·
·
·
·
·
·
·
Vietnam |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Anil Agarwal |
|
Designation : |
Non - Executive Chairman |
|
Date of Birth/Age : |
16.06.1957 |
|
|
|
|
Name : |
Mr. Arun Todarwal |
|
Designation : |
Non – Executive and Independent Director |
|
|
|
|
Name : |
Mr. A. R. Narayanaswamy |
|
Designation : |
Non – Executive and Independent Director |
|
Date of Birth/Age : |
22.12.1951 |
|
|
|
|
Name : |
Mr. Haigreve Khaitan |
|
Designation : |
Non – Executive and Independent Director |
|
|
|
|
Name : |
Mr. Pravin Agarwal |
|
Designation : |
Whole Time Director |
|
|
16.10.1954 |
|
|
|
|
Name : |
Mr. Anand Agarwal |
|
Designation : |
Chief Executive Officer and Whole Time Director |
|
Date of Birth/Age : |
07.08.1967 |
|
|
|
|
Name : |
Mr.
C V Krishnan |
|
Designation : |
Director
|
|
|
|
|
Name : |
Mr.
Pratik Agarwal |
|
Designation : |
Director
|
|
|
|
|
Name : |
Mr. Pravin
Agarwal |
|
Designation : |
Whole-time
Director |
KEY EXECUTIVES
|
Name : |
Mr. Anupam Jindal |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Sandeep Deshmukh |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Mr. K. S. Rao |
|
Designation : |
Chief Operating Officer (Telecom) |
|
|
|
|
Name : |
Mr. Rajendra Mishra |
|
Designation : |
Vice President – Strategic Business Initiatives and Head
Power Cables Business |
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|
|
|
Name : |
Mr. Vijay Jain |
|
Designation : |
Chief Operating Officer – Networks Business |
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|
|
|
Name : |
Mr. Pratik Agarwal |
|
Designation : |
Head – Infrastructure Business |
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|
|
|
Name : |
Mr. Prasanth Puliakottu |
|
Designation : |
Chief Information Officer |
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|
|
|
Name : |
Mr. Pankaj Priyadarshi |
|
Designation : |
CCO |
|
|
|
|
Name : |
Mr. Ajay Bhardwaj |
|
Designation : |
Chief Operating Officer – Grid Business |
|
|
|
|
Name : |
Mr. Kamal Sehgal |
|
Designation : |
Leader – Business Excellence |
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|
|
|
Name : |
Mr. Vimal Malhotra |
|
Designation : |
Head – Human Resources |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category of Shareholder |
No. of Shares |
% of No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1051611 |
0.27 |
|
|
4764295 |
1.21 |
|
|
5815906 |
1.48 |
|
|
|
|
|
|
209402750 |
53.21 |
|
|
209402750 |
53.21 |
|
Total shareholding of Promoter and Promoter Group (A) |
215218656 |
54.69 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
10980108 |
2.79 |
|
|
21746686 |
5.53 |
|
|
500 |
0.00 |
|
|
914737 |
0.23 |
|
|
5953255 |
1.51 |
|
|
39595286 |
10.06 |
|
|
|
|
|
|
20504371 |
5.21 |
|
|
|
|
|
|
89581306 |
22.76 |
|
|
23404368 |
5.95 |
|
|
5216112 |
1.33 |
|
|
4648057 |
1.18 |
|
|
13700 |
0.00 |
|
|
6705 |
0.00 |
|
|
180785 |
0.05 |
|
|
85550 |
0.02 |
|
|
189765 |
0.05 |
|
|
91550 |
0.02 |
|
|
138706157 |
35.25 |
|
Total Public shareholding (B) |
178301443 |
45.31 |
|
Total (A)+(B) |
393520099 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
393520099 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in the manufacture and sale
of Power and Telecom products and solutions. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Power Transmission Line –
Distribution Conductor ** |
MT |
N.A. |
160000 |
|
Copper Telecom Cables |
CKM |
9500000 |
2828400 |
|
Fiber Optic cables* |
FKM |
5309059 |
4500000 |
|
Optical Fiber |
KM |
12000000 |
12000000 |
|
Broadband Access Networks |
NOS. |
1500000 |
1000000 |
* Based on Average Fibre KM.
** N.A. – Delicenced vide notification no. 477 (E)
Dated 27th July, 1991.
|
Particulars (including for captive
consumption) |
Unit |
Actual
Production |
|
Copper Telecom Cables |
CKM |
720524 |
|
Fiber Optic cables |
FKM |
3775878 |
|
Optical Fibre* |
KM |
9130523 |
|
Power Transmission Line –
Distribution Conductor (AAC/ACSR) ** |
MT |
125530 |
* It includes 3,742,671 KM (2,906,150 KM) produced
for captive consumption
** Current Year 140,952 KM (129,036 KM)
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
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Auditors : |
|
|
Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding Company : |
|
|
|
|
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Subsidiaries : |
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|
|
|
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Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Shares |
Rs.2/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
393439135 |
Equity Shares |
Rs.2/- each |
Rs. 786.900
Millions |
|
|
|
|
|
AS ON 12.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Shares |
Rs.2/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
393520099 |
Equity Shares |
Rs.2/- each |
Rs. 787.040
Millions |
|
|
|
|
|
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 |
786.900 |
786.500 |
712.800 |
|
(b) Reserves & Surplus |
11043.000 |
10702.300 |
9375.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
271.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.200 |
|
Total
Shareholders’ Funds (1) + (2) |
11829.900 |
11488.800 |
10359.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2066.800 |
0.000 |
1.400 |
|
(b) Deferred tax liabilities (Net) |
872.100 |
735.200 |
660.100 |
|
(c) Trade Payables |
15.900 |
194.200 |
320.700 |
|
(d) long-term
provisions |
153.100 |
397.100 |
133.500 |
|
Total Non-current
Liabilities (3) |
3107.900 |
1326.500 |
1115.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
8323.500 |
6643.700 |
6195.800 |
|
(b) Trade
payables |
6192.500 |
5211.700 |
4248.900 |
|
(c) Other
current liabilities |
3238.400 |
3142.700 |
2988.800 |
|
(d) Short-term
provisions |
172.300 |
151.700 |
232.300 |
|
Total Current
Liabilities (4) |
17926.700 |
15149.800 |
13665.800 |
|
|
|
|
|
|
TOTAL |
32864.500 |
27965.100 |
25140.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9934.900 |
9530.100 |
6981.800 |
|
(ii)
Intangible Assets |
77.600 |
59.500 |
79.900 |
|
(iii)
Capital work-in-progress |
289.700 |
410.800 |
1299.600 |
|
(iv)
Fixed Assets Held for Sale |
0.000 |
80.500 |
0.000 |
|
(b) Non-current Investments |
1891.000 |
1763.400 |
88.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
6764.500 |
2251.500 |
2050.300 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
809.800 |
|
(f) Trade
receivables |
691.200 |
1172.200 |
198.800 |
|
Total Non-Current
Assets |
19648.900 |
15268.000 |
11508.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
1000.000 |
|
(b)
Inventories |
2915.400 |
2727.000 |
1913.800 |
|
(c) Trade
receivables |
6403.700 |
6667.500 |
8466.200 |
|
(d) Cash
and cash equivalents |
1957.500 |
1847.700 |
490.800 |
|
(e)
Short-term loans and advances |
1930.900 |
1371.400 |
1761.000 |
|
(f) Other
current assets |
8.100 |
83.500 |
0.100 |
|
Total
Current Assets |
13215.600 |
12697.100 |
13631.900 |
|
|
|
|
|
|
TOTAL |
32864.500 |
27965.100 |
25140.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
33537.100 |
27274.700 |
22625.500 |
|
|
|
Other Income |
145.400 |
236.700 |
159.700 |
|
|
|
TOTAL (A) |
33682.500 |
27511.400 |
22785.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material and components consumed |
22737.400 |
19050.000 |
15712.000 |
|
|
|
Purchase of traded goods |
708.300 |
545.700 |
141.300 |
|
|
|
Employee benefits expense |
1177.000 |
987.000 |
825.600 |
|
|
|
Other expenses |
6396.200 |
5256.600 |
3599.500 |
|
|
|
(Increase) /
decrease in inventories of finished goods work-in-progress and traded goods |
60.300 |
(560.200) |
(309.300) |
|
|
|
TOTAL (B) |
31079.200 |
25279.100 |
19969.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2603.300 |
2232.300 |
2816.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1055.700 |
951.000 |
474.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1547.600 |
1281.300 |
2342.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
859.500 |
713.600 |
560.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
688.100 |
567.700 |
1781.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
213.500 |
129.300 |
376.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
474.600 |
438.400 |
1405.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
9529.900 |
8132.500 |
6998.500 |
|
|
|
FOB Value of Deemed Exports |
1436.700 |
2051.400 |
928.500 |
|
|
TOTAL EARNINGS |
10966.600 |
10183.900 |
7927.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
7008.800 |
5406.700 |
3728.500 |
|
|
|
Stores Spares and
Consumables |
137.700 |
120.000 |
122.900 |
|
|
|
Capital Goods |
469.200 |
255.800 |
785.000 |
|
|
TOTAL IMPORTS |
7615.700 |
5782.500 |
4636.400 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
1.21 |
1.12 |
3.95 |
|
|
|
Diluted |
1.20 |
1.11 |
3.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.41
|
1.59 |
6.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.05
|
2.08 |
7.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.24
|
2.42 |
8.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88
|
0.58 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74
|
0.84 |
1.00 |
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long-Term Borrowings |
|
|
|
Deferred payment liabilities |
|
|
|
Sales tax loan (interest free) |
0.500 |
0.000 |
|
Short-Term Borrowings |
|
|
|
Other loan from banks |
6997.600 |
5832.300 |
|
|
|
|
|
TOTAL |
6998.100 |
5832.300 |
|
NOTES SHORT-TERM BORROWINGS Other loans from
banks include buyer’s credit arrangements and export bill discounting. They
are repaid / rolled over after a period of six months and carry interest @0.95-2%
(excluding hedging premium). |
||
VIEW INDEX OF CHARGES
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10401862
|
22/01/2013
|
2,500,000,000.00
|
STATE BANK OF INDIA |
STATE BANK BHAVAN, MADAME CAMA
ROAD, MUMBAI, MAHARASHTRA - 400021, INDIA |
B67457549
|
|
2 |
10402643
|
22/01/2013
|
1,500,000,000.00
|
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, 21ST FLOOR,
WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B67905901
|
|
3 |
10403684
|
22/01/2013
|
5,730,000,000.00
|
STATE BANK OF INDIA |
NEVILLE HOUSE, J.N. HEREDIA
MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B68308972
|
|
4 |
10403874
|
22/01/2013
|
1,750,000,000.00
|
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA-400018,
INDIA |
B68452630
|
|
5 |
10403942
|
22/01/2013
|
1,500,000,000.00
|
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B68489483
|
|
6 |
10405909
|
22/01/2013
|
3,000,000,000.00
|
CORPORATION BANK |
CORPORATE BANKING BRANCH, 104 BHARAT
HOUSE, M S MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B68634260
|
|
7 |
10405941
|
22/01/2013
|
8,920,000,000.00
|
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B68594027
|
|
8 |
10406455
|
22/01/2013
|
4,250,000,000.00
|
BANK OF MAHARASHTRA |
LOKMANGAL, 1501, SHIVAJINAGAR,
PUNE, MAHARASHTRA- 411005, INDIA |
B68926468
|
|
9 |
10406463
|
22/01/2013
|
3,930,000,000.00
|
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH,
MANTRI COURT, 1ST FLOOR, 39 RAMABAI AMBEDKAR ROAD, PUNE, MAHARASHTRA -
411001, INDIA |
B68906957
|
|
10 |
10406828
|
22/01/2013
|
3,000,000,000.00
|
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLE, LAW G |
B69045763
|
|
11 |
10406831 |
22/01/2013 |
750,000,000.00 |
CITI BANK N.A. |
CITIGROUP CENTRE, 7TH FLOOR,,
BANDRA -KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
B69079408 |
|
12 |
10406841 |
22/01/2013 |
2,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, 21ST
FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B69101673 |
|
13 |
10406848 |
22/01/2013 |
1,500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT
MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B69045904 |
|
14 |
10406868 |
22/01/2013 |
6,750,000,000.00 |
ORIENTAL BANK OF COMMERCE |
F.C. ROAD,, 917-20/20A, OBC TOWER,
PUNE, MAHARASHTRA - 411004, INDIA |
B69045854 |
|
15 |
10406870 |
22/01/2013 |
2,750,000,000.00 |
UNION BANK OF INDIA LIMITED |
UNION BANK BHAVAN, 239,,
VIDHAN BHAVAN MARG, MUMBAI, MAHARASHTRA - 400021, INDIA |
B69078129 |
|
16 |
90141388 |
09/11/2004 |
2,240,500,000.00 |
HOUSING DEVELOPMENT FINANCE
CORPORATION LIMITED |
RAMAN HOUSE; H.T PARAKH MARG,
BACKBAY RECLAMATION; CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
17 |
90144133 |
19/10/2002 |
457,700,000.00 |
IL & FS TRUST COMPANY LTD |
IL AND FS CENTRE, C-22;BLOCK
G;BANDRA KURLA, MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
CORPORATE
INFORMATION
Subject is a
public company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on two stock exchanges in India. The
company is primarily engaged in the manufacture and sale of Power and Telecom
products and solutions. Telecom products and solutions mainly include
integrated optical fiber, other Telecom products such as fiber optical cables,
copper Telecom cables, structured data cables, access equipments, fiber
connectivity and system integration solution offerings for Telecom networks and
other service providers. Power products and solutions mainly includes power transmission
conductors and cables.
PERFOR MANCE
Fiscal year
2012-13 closed with Revenues of Rs. 33540.000 Millions, EBITDA of Rs. 2600.000
Millions, PAT of Rs. 470.000 Millions and EBITDA margins of 8%. The Telecom
business had revenues of Rs. 10560.000 Millions at an EBITDA margin of 15.74%
and the power business had revenues of Rs. 22300.000 Millions at an EBITDA
margin of 4.22%.
SUBSIDIARY COMPANIES AND JOINT VENTURES
At the end of the year,
the Company has nine Subsidiary Companies and two Joint Ventures, the details
of which are given below:
- STERLITE GRID
LIMITED (SGL)
SGL is a wholly
owned subsidiary of the Company incorporated to undertake power transmission
(IPTC) projects. SGL is currently executing multi-Million dollar power
transmission system projects, Pan-India via its wholly-owned subsidiary
companies, awarded on a ‘Build, Own, Operate and Maintain’ (BOOM) basis. In
accordance with this, transmission lines would be commissioned and the Company
would operate and maintain the same for a minimum tenure of 35 years through
project SPVs acquired through competitive bidding process.
- EAST-NORTH
INTERCONNECTION COMPANY LIMITED (ENICL)
ENICL project
involves establishment of two 400 kV Double Circuit transmission lines that
would respectively connect the Indian states of Assam with West Bengal and
Bihar. This project has 18 identified beneficiaries (mainly SEBs in the states
of Rajasthan, Punjab, Haryana, Uttaranchal and the city of Delhi), who would be
directly benefitted by this project. Out of the two lines, one line will be
operational in the first quarter of the FY 2013-14, while the second line will
be operational in the third quarter of the FY 2013-14.
- BHOPAL DHULE
TRANSMISSION COMPANY LIMITED (BDTCL)
BDTCL project
involves establishment of four 765 kV Single Circuit and two 400 kV Double
Circuit transmission lines that would strengthen the transmission system in the
Indian states of Madhya Pradesh, Maharashtra and Gujarat. The project is
expected to be completed before the end of March 2014.
- JABALPUR
TRANSMISSION COMPANY LIMITED (JTCL)
JTCL project
involves establishment of a 765 kV Double Circuit and a 765 kV Single Circuit
transmission line each, that would strengthen the transmission system in the
Indian states of Chhattisgarh and Madhya Pradesh. The project is expected to be
completed before March 2014. The Company achieved financial closure during the
year.
- JIANGSU
STERLITE TONGGUANG FIBER COMPANY LIMITED (JSTFCL)
The Company is a
Joint Venture with Tongguang Group of China to set up an Optical Fiber
Manufacturing Facility in China. During the year, JSTFCL commenced the
production of optical fiber at their new facility located at Haimen, Jiangsu
Province, China.
- STERLITE
DISPLAY TECHNOLOGIES PRIVATE LIMITED (SDTPL )
The Company is
currently exploring various growth opportunities including liquid crystal
displays (LCD s) glass manufacturing and other related products.
- STERLITE
NETWORKS LIMITED (SNL)
SNL is providing shared
last mile infrastructure for Broadband connectivity, dark fiber and duct space
leasing, tower fiber connectivity, backhaul connectivity, wifi –hot spots, DAS
/ IBS etc. Under the FiON™ brand, SNL has
created FTTX
infrastructure in 6 major cities pan-India, connecting over 70,000 homes,
serving 6500 subscribers from all major Telecom Service Providers like Airtel,
Tata, Spectranet, etc.
SNL, in less than
2 years of its existence, has filed 14 domestic and 5 international
applications for patents. Several other Intellectual Property applications are
in pipeline.
- MAHARASHTRA TRANSMISSION COMMUNICATION
INFRASTRUCTURE LIMITED (MTCIL)
MTCIL,
incorporated in August 2012, is a Joint Venture (JV) between Maharashtra State
Electricity Transmission Company Limited (MSETCL). MTCIL which is held 51% by
the Company, was formed with the objective of establishing an OPGW-based
communication network over MSETCL’s EHV transmission infrastructure in the
state of Maharashtra.
- STERLITE GLOBAL VENTURES (MAURITIUS) LIMITED
(SGVML)
SGVML holds
downstream investment of the Company made in Jiangsu Sterlite Tongguang Fiber
Company Limited.
- STERLITE TECHNOLOGIES AMERICAS, LL C (STA )
STA is a limited
liability company set up in USA to carry the business operations in USA.
- STERLITE TECHNOLOGIES EUROPE VENTURES LIMITED
- CYPRUS (STEVL)
STEVL,
incorporated in Cyprus is a wholly owned subsidiary of the Company, with an
objective to carry on business operations in the European Union.
MANAGEMENT DISCUSSION AND ANALYSIS
The future they
see for the world of communications will be very different from the present
one: there will no longer exist a distinction between the “on-line” and
“off-line” world. The prosperity of individuals, businesses and nations will
all be linked to the growth of the Internet. It is for the same reason that the
Governments around the world are also increasingly viewing broadband Internet
as the ‘fourth utility’ alongside water, gas and electricity.
Do you know it
will take over 6 Million years for a single person to watch the number of
videos that will cross global IP networks each month in 2016. Every second, 1.2
Million minutes of video content will cross the network in 2016.
In the last 10 years,
the rise in the number of Internet users has been phenomenal. Likewise, it will
be a daunting task to accurately predict the number of users and devices that
will be connected to the Internet in the coming decade. Beyond the number of
users, the statistic which will be more difficult to predict is the IP traffic
that each of those users will create on the Internet. What they do know is that
this growth will be astronomical!
They will be
“always on”, always connected, through all the things that surround them,
whether close to them or not.
The term “access
to the network” will be meaningless, because the access will be automatic and
involuntary and may even accompany a person’s birth. Being born will signify
getting into the Net. “Online” will be fully meshed with their daily lives.
Whatever they do – communicate, carry out research, play games, watch films,
socialise, pay bills, pay taxes – almost everything will be online. While all
these can simply be perceived as a vision; they believe it is a view, because
it is closer to reality than one may think.
Just five years
ago, it was difficult for one not only to comprehend the features of iPhone but
also the potential of tablets or touch screen devices. The use of these devices
is rising exponentially with no sign of a slowdown. At the beginning of 2010,
tablets were all but non-existent. Today, over 30% of American consumers have
access to a tablet computer. No longer desk-bound, the computer screen has just
moved into the living room, and now competes with the TV for eyeballs and
attention.
Online video has
become a familiar sight on their computer screens. If peep into the co-workers’
cubicles, are likely to catch them sneaking a quick video on YouTube, watching
news on CNN.com, or enjoying videos which their friends have embedded on
Facebook. At home, the kids might be watching the latest episode of ‘The
Bachelor’ on ABC.com or new music videos on iTunes store, or maybe they are
streaming the entire season of TV shows from their Netflix account.
The sum of all
forms of IP video (Internet video, IP VoD, video files exchanged through file
sharing, video streamed gaming, and video conferencing) will ultimately reach
86% of total IP Internet traffic. Taking a more narrow definition of Internet
video that excludes file sharing and gaming, Internet video will account for
55% of consumer Internet traffic in 2015.
Busy-hour Internet
traffic will nearly quintuple between 2011 and 2016, while average Internet
traffic will nearly quadruple. The below figure provides a view of the
historical benchmarks for per capita Internet traffic.
NOW THE ‘BIG’
QUESTION…IS THEIR BANDWIDTH INFRASTRUCTURE READY?
Are the copper
heavy networks of today equipped to handle this explosion in data traffic as
anticipated and meet the consumer expectations for immediate and high speed
access from multiple devices? It should not come as a surprise to anyone that
the answer is no.
xDS L technologies
have allowed the wireline industry to expand the lifetime of legacy copper
networks for broadband Internet connectivity. Despite several innovations in DS
L technology, copper is gradually reaching its limits, because homes which are
connected with copper loops of 1 km or more, which do not allow for bandwidths
of 50 Mbps (megabits per second) or greater (for example, the equivalent of two
full high-density streams and a high speed Internet connection).
In Internet
history, consumers’ insatiable hunger for ever-increasing bandwidth and new
innovative services have always strained the seams of copper networks. The
capacity of legacy copper networks in the ground in different phases could
never reach the ‘sell-by’ date, without getting exhausted.
Skyrocketing
demand for high-speed Internet services is necessitating another wave of
infrastructure investment. The fact remains that fiber is THE future and
fixed-line networks globally require upgrade and investments.
The proponents of
fiber have been often dismissed for their ‘fiber only’ mentality. But this is
not the case, future has a place for both wireless and fixed line and the two
go hand in hand. A future without mobile
connectivity is unthinkable, but it has limitations and it depends on fiber to
succeed.
While the whole
world is talking about wireless and going gaga over 3G, 4G and a possibility of
5G, an interesting figure here depicts the usage pattern of wireless devices.
Almost 70% of data consumption on wireless devices globally happens over Wi-Fi
networks. This means while people need mobility, they love accessing high-speed
Internet through fixed wireless networks which are connected by fiber/ copper.
Nevertheless, the remaining 30% data, which is consumed on cellular networks
also ultimately, terminates at the nearest wireless tower connected by fiber.
China, the world’s
largest consumer of optical fiber, plans to increase the number of households
with broadband access to 175 Million, with more than 70% of China’s Internet
users getting 4M broadband service by the end of 2013. ‘Broadband China’
programme’s goal is to have at least 40 Million homes connected to FTTH
networks by 2015. The mandate has been enforced since April 1, 2013.
Already the
country’s telcos, including China Telecom and China Unicom, are aggressively
rolling out their own FTTH networks. China Unicom added 10 Million families to
its FTTH project in 2012, while China Telecom at end of 2012 reached a total of
2.3 Million subscribers. Besides the telcos, utilities will also play a part in
China’s FTTH drive. Utilities like State Grid Corporation of China (SGCC ) are
using the optical fiber networks for two purposes: powering their smart grids
and offering FTTH services to consumers and businesses. The total spend is
expected
to be between $1.5
to $2 Billion for components and equipment.
However, for other
developed economies, despite the semi-recessionary business environment, the
pace at which they are advancing towards FTTH is quite impressive like the
European Union. The European Commission also recently created the ‘Connecting
Europe’ Facility to help fund the rollout of next-generation networks and
pan-European digital services. It plans to lend out Euro 9.2 Billion between
2014 and 2020.
Google is known
for innovative experiments – the self-driving car or the Google Glasses.
‘Google Fiber’ is another such experiment, wherein it is building a broadband
Internet network infrastructure using fiber-optic cables in chosen cities and
provides super high speed Internet i.e. 1Gbps. Kansas City, was chosen first,
followed by Austin, Texas and Provo, Utah; all in USA.
Google Fiber is
influencing the change both directly and indirectly. Early users in Kansas City
report that instant access to video content, without buffering, has been one of
the network’s most appealing aspects. Google Fiber’s influence is impacting
other carriers as well: within a week of Google’s announcement of expansion to
Austin, wireline incumbent AT and T announced a 1 Gbps plan for Austin and Time
Warner Cable announced new city-wide wireless service for its Austin customers.
These developments
have been driving the growth of fiber demand across the globe with China,
Europe and North America contributing a significant portion to it.
They at Sterlite
believe that the demand growth is here to stay, as the need for bandwidth is
insatiable and the networks of today are not enough to sustain the surge in
bandwidth. One of the significant contributing factors to the demand growth
could come from India, which is at the trigger point.
fiber cables (OFC)
in 2011. The network will bridge connectivity gap between Gram Panchayats and
Block offices
in the entire
country and will ensure availability of 100Mbps at each GP along with
non-discriminatory access to all categories of service providers. The project
implementation will be in next 24 months. The selection of partners for this
mega project is already in the final stages
NETWORK FOR SPECTRUM (NFS)
Another mega fiber
rollout is being undertaken in India, owing to spectrum shortage arising due to
scarcity of this
critical wireless
resource. The Telecom Regulatory Authority of India (TRAI) estimates that to
meet the growing needs of 2G and 3G services in India will require around 500
to 800MHz of spectrum in the next 5 years. The Department of Telecom (DoT) and
the country’s Defense forces have come together to make available this
spectrum.
The defense forces
are vacating 80 Mhz for commercial use in lieu of alternative backbone network
i.e. Network For Spectrum (NFS) also known as ‘Nationwide Communication
Network’, being built by state-owned telcos. The groundwork for this project to
lay 57,000 kms of optical fiber cable is already underway.
All these
developments concur with their belief that the demand for optical fiber across
the globe is there to stay with the ever increasing IP traffic. Today fiber is
the only medium which can enable this data traffic complementing wireless and
legacy copper networks. Sterlite’s extensive portfolio of fiber solutions helps
service
providers and
utilities in creating efficient and future proof networks to enable the
explosion of data across networks globally. Another segment that Sterlite
caters is the power segment, enabling transmission infrastructure to meet the
growing electricity needs of the people across the world.
CAPACITY ADDITIONS
TO MEET THE RISING DEMAND
Globally,
generation capacity additions by all sources would be needed to keep pace with
rising demand and to replace capacity that will be retired (1980 MW) over
2012-2035. It is expected that the gross capacity additions from 2012-2035 will
be about 5,891 GW. Further, over 37% of the cumulative capacity addition will
be in China and India alone, as these countries seek greater access to
electricity.
Modern Renewable
Energy (RE) sources such as wind and solar PV have cemented their positions in
the energy mix after years of mainstreaming. It is projected that wind will
achieve about 20% of penetration in the European Union (EU) in next two
decades. Strong growth in markets like the US, China and India is projected,
thus underpinning the government support. Also, wind power capacity is set to
reach 1,098 GW by 2035 growing at a CAGR of 6.6% from the levels of 2011, as
per IEA estimates. Solar sector has witnessed a sky-rocketing growth in recent
years on account of substantial falls in solar PV costs. Globally, the solar PV
sector is expected to add another 662 GW by 2035 large capacity additions
expected in EU, the US, China, India and Japan.
In 2012, the
United Nations launched a global initiative – “Sustainable Energy for All” ,
which aims to double RE share in global energy mix by 2030, double the global
rate of improvement in energy efficiency and to ensure universal access to
modern energy services. Energy sustainability – based on these three core
dimensions – is inextricably interwoven such that reaching these goals by 2035
would mean RE’s contribution of 31% of total electricity, second only to coal.
Essentially, subsidies offered to make the RE proposition attractive, fueled
the growth of RE sources. World Energy Outlook 2012 reports that the subsidies
will rise from US$88 Billion globally in 2011 to US$240 Billion in 2035.
Two consecutive
grid blackouts raised fundamental questions about the aptness of the
regulations, the government’s investment strategy in transmission system,
technological uptake philosophy and system operating practices governing
transmission system security. However, amidst inadequate infrastructure, a
crippling power shortage, fuel shortage, bleeding DISCO Ms and yawning absence
of state-governmental action, Power Industry’s response to the blackout and
short-to-long-term solution-finding efforts are likely to provide the
leadership and drive needed to avoid unduly exposing transmission systems to
the risk of further substantial power failures. Central agencies are initiating
steps to enhance the ability of a power transmission system to withstand the
unexpected loss of key components.
Development and
deployment of new and existing technologies ranging from high temperature low
sag conductors to power monitoring devices to Ultra high voltage lines to
Automatic Control Systems are envisaged. Investment into expansion of
transmission line capacity to alleviate transmission congestion has also been
planned.
INDIA’S TRANSMISSION SECTOR
In India, strategy
of transmission development is commensurate with generation and load growth,
creation of highways leading to strengthening of National Grid and conservation
of Right-of-Way. Government policies also point to a huge thrust on
transmission sector in terms of capacity buildup and planned expenditures for
the 12th Plan.
A total of about
1,07,440 ckm of transmission lines; 2,70,000 MVA of AC transformer capacity and
12,750 MW of
HVDC systems are
estimated as needed during the 12th Plan.
The 12th
five-year-plan is expected to register maximum growth in terms of capacity
addition through 400 kV lines - backbone of transmission infrastructure in
India.
Historically, the
focus of the power sector in the country has primarily been on addition of
generation capacities. There is also a clear trend in terms of shift of focus
on transmission. The share of investment in transmission for the 12th Plan and
the 13th Plan is substantially higher than it was for the previous
five-year-plans.
While cost
uncertainties due to volatility in metal prices and Forex are other deterrents,
commodity present value as pass through will help in risk sharing, transmission
project funding should be made available at lower cost a priority to PFC and
REC.
Bulk Power
Companies (BPCs) put a strict control on the technical specification as they
micro-specify various technical and commercial aspects. This results in long
bidding process and restricted uptake of new technologies and practices.
Engaging private sector in specification development and policy making will
allow new technology adoptions and provide a level playing field for entry of
competitive and reliable players.
In order to
accelerate the contribution of private players in transmission sector, the
degree of involvement of developer in the planning and development process can
and should be elevated from just being a Quasi-EPC to a stakeholder. Renewable
energy has been an important component of India’s energy planning process.
Since the 9th Plan period, the share of renewable capacity has increased from
2% to 12% of the total installed capacity of 223, 870 MW as on today, a 6-fold
increase. Electricity generation due to renewable source has also increased to
about 6% in overall electricity generation mix as on today. With such
multi-fold growth, penetration of renewable power in the Indian grid has
increased. Presently, about 28,000 MW grid interactive RE generation capacity
is available. Out of this about 70% grid interactive capacity is contributed by
the wind alone.
India would take
its new and renewable capacities to 55,000 MW by 2017, the terminal year of the
12th five-yearplan. The projected change in the mix of generation by fuel
supply by the end of 2030 is tilting in favour of RE. The share of renewable
energy in electricity generated is expected to rise from around 6% in 2012 to
9% in 2017 and 16% in 2030.
GREEN ENERGY
CORRIDORS: AN ELECTRIFYING EXAMPLE IN THE TRANSMISSION SECTOR
While fossil-fuel
generation resources have some flexibility in terms of close proximity of the
site to existing transmission grid, integration of RE poses a special challenge
as the site of renewable resources is largely dictated by nature. Intermittent
availability as well as variability of energy and lesser grid support during
system disturbance and exigencies stymie growth of power evacuation/grid
facilities and transmission planning. Further, the transmission investments
needed to meet these challenges have not kept pace with the rapid growth of
renewable energy capacity in the past few years.
In order to
facilitate the development of transmission system as well as other
infrastructure facilities as a part of the renewable capacity addition
programme in the 12th Plan, the estimated investment for the transmission
development plan for integration of renewable energy by Central Transmission
Utility (CTU) and the identified State Transmission Utility (STU) under PGCIL’s
study is Rs. 425570.000 Millions.
ROAD TO THE
FUTURE: TRANSMISSION FOR 2030
Considering the
huge thrust on realizing wind and solar potential as well as the impetus given
on development of other RE technologies, a perspective transmission plan for
renewable energy, that serves as a road map, has been chalked out for the year
2030 in PGCIL study. In line with this, broad contours of transmission plan for
2030 has been prepared with the following approach:
i. Development of
Hybrid EHV AC/ HVDC Transmission system for flexibility of controls
ii.
Interconnection of RE rich regions as well as with major load centers as touch
points
iii. Establishment
of transmission corridors passing through conventional generation complexes
including Andhra Pradesh (gas), Odisha (coal) and Jharkhand (coal) as well as
new transmission corridors from hydro-rich areas to achieve supply balance.
Nine new
ultra-high capacity transmission corridors have been proposed. These corridors
will not only dispatch the energy generated from proposed renewable energy
capacity to high-demand centres across the country, but will also complement
the parallel transmission system of conventional generation projects/grid
strengthening schemes, for transfer of power as well as help maintain the grid
parameters.
NEED TO SPRING IN
NEWER TECHNOLOGY PARADIGMS
Transmission
system build out was historically planned to link large stationary power plants
to nearby demand centers. However, traditional approach to transmission
planning is rendered ineffective, if not completely obsolete, in the context of
changing energy mix, RoW issues, open access in transmission and need to add
certain degree of redundancies in the case of eventualities and future proofing
contingencies. Technology will be crucial in bringing about this
transformation.
The technological
strides which India seeks to take in the near future includes high capacity
transmission corridors comprising 765 kV AC lines, expansion of 1200 kV AC
system, Gas Insulated Substations (GIS) and high temperature low sag conductor
line.
Going forward, it is
imperative for the company to expand energy supplies and transmission capacity
in a way that
is sustainable.
Moreover, sustainable development mandates emphasis on new policies and
planning approaches, investment mechanism and new technologies. Thus, transmission
sector is poised for high growth and renders unique opportunities for private
players.
Sterlite
Technologies is the leading provider for power conductors in India today, and
with an extensive portfolio of
high performance
conductors, enabling the utilities in the country and abroad to build efficient
and sustainable power transmission lines
FIXED ASSETS
- Freehold land
- Leasehold land
- Buildings
- Plant and machinery
- Furniture and fixtures
- Data processing equipment
- Office equipment
- Electric fittings
- Vehicles
STANDALONE
FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2013
(Rs. In millions)
|
Particulars |
Quarter Ended 30.06.2013 (Unaudited) |
|
(a) Net Sales/ Income from
operation |
7447.800 |
|
(b) Other Operating Income |
135.400 |
|
Total Income |
7583.200 |
|
2. Expenditure |
|
|
a. Increase(-) /Decrease(+) in Stock in trade and W.I.P. |
(215.900) |
|
b. Cost of Materials Consumed |
5035.800 |
|
c. Purchase of Traded Goods |
82.100 |
|
d. Employees Cost |
344.900 |
|
e. Depreciation |
237.200 |
|
f. Other Expenditure |
1514.700 |
|
g. Total |
6998.800 |
|
3. Profit(+)/ Loss(-)
from Operations before other Income Interest and Exceptional Item(1-2) |
584.400 |
|
4. Other Income-Foreign Exchange Fluctuation-Gain/(Loss) |
32.600 |
|
5. Profit(+)/
Loss(-) before Interest and Exceptional Item |
617.000 |
|
6. Interest |
278.200 |
|
7. Profit(+)/
Loss(-) after Interest but before Exceptional Item (5-6) |
338.800 |
|
8. Exceptional Items |
-- |
|
9. Profit(+)/
Loss (-) from ordinary activities
before Tax (7-8) |
338.800 |
|
10. Tax Expenses |
112.800 |
|
11. Net Profit(+)/
Loss (-) from ordinary activities after Tax (9-10) |
226.000 |
|
12. Extraordinary Items (Net of Tax Expense Rs.________) |
-- |
|
13. Net Profit (+)/ Loss(-) for the period (11-12) |
226.000 |
|
14. Paid Up Equity Share Capital (Face Value of Rs.10 Per Share) |
786.900 |
|
15. Reserves excluding Revaluation Reserves as per Balance Sheet of
Previous Accounting Year |
-- |
|
16. Earning per Share (EPS) |
|
|
a) Basic and diluted EPS before extraordinary items for the period,
for the year to date and for the previous year (not annualised) |
0.57 |
|
b) Basic and diluted EPS after extraordinary items for the period, for
the year to date and for the previous year (not annualised) |
0.57 |
|
17. Public Shareholding |
|
|
Number of Shares |
178301443 |
|
% of Share holding |
45.31% |
|
18. Promoters and promoter group Shareholding |
|
|
a) Pledged/Encumbered |
|
|
- Number of shares |
-- |
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter
group) |
-- |
|
- Percentage of shares (as a
% of the total share capital of the
company) |
-- |
|
b) Non-encumbered |
|
|
- Number of shares |
215218656 |
|
- Percentage of shares (as a % of the total
shareholding of promoter and
promoter group) |
100% |
|
- Percentage of shares (as a
% of the total share capital of the
company) |
54.69% |
(Rs. In Millions)
|
Sl. No. |
|
Particulars |
Quarter Ended |
|
|
30.06.2013 |
||
|
|
(Unaudited) |
||
|
1 |
|
Segment Revenue |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
4533.400 |
|
|
|
Telecom Products and Solutions |
2914.400 |
|
|
|
|
|
|
|
|
Total |
7447.800 |
|
|
|
|
|
|
|
|
Profit Before
Interest, Depreciation and Tax |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
243.100 |
|
|
|
Telecom Products and Solutions |
611.100 |
|
|
|
|
|
|
|
|
Total |
854.200 |
|
|
|
|
|
|
|
|
Profit Before
Interest and Tax |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
172.400 |
|
|
|
Telecom Products and Solutions |
444.600 |
|
|
|
|
|
|
|
|
Total |
617.000 |
|
|
|
|
|
|
|
|
Interest Cost |
278.200 |
|
|
|
|
|
|
|
|
Profit Before Tax |
338.800 |
|
|
|
|
|
|
|
|
Capital Employed
(Segment Assets – Segment Liabilities) |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
3982.000 |
|
|
|
Telecom Products and Solutions |
11942.500 |
|
|
|
Unallocable |
6738.500 |
|
|
|
|
|
|
|
|
Total |
22663.000 |
NOTES
- In terms of
clause 41 of the listing agreement, details of number of inventor
complaints for the quarter ended June 30, 2013 : Beginning – 0, Received
-25, Disposed off – 25, Pending 0.
- The above
results have been reviewed by the Audit Committee. The Board of directors
at its meeting held on July 26, 2013 approved the above results.
- During the
year 2005-06, the CESTAT had upheld a demand of Rs. 1880.000 Millions
(including penalties thereon and excluding interest) in the pending excise
matter. The auditors have expressed their qualification on this matter.
The company is contesting this case and the matter is pending the decision
of the Honb’le Supreme Court.
- The figures
for the quarter ended March 31, 2013 are balancing figures between audited
figures in respect of the full financial year ended March 31, 2013 and the
unaudited published year-to-date figures up to December 31, 2012, being
the date of the end of the third quarter of the financial year 2012-13,
which was subjected to limited review.
- Previous
period figures have been regrouped / rearranged wherever considered
necessary.
WEBSITE DETAILS
NEWS
STERLITE TECHNOLOGIES
LAUNCHES ENHANCED FAMILY OF BEND-INSENSITIVE FIBERS
Brand
new BOW LITE SUPER, G.657 B3
Improved BOW LITE
PLUS, G.657 A1 and BOW LITE (E), G.657 A2.B2
Pune, India – July
18, 2013: Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading
global provider of transmission solutions for the telecom and power industries
has announced the launch of three new products in its bend-insensitive BOW LITE
family of fibers. These include the brand new BOW LITE SUPER (G. 657 B3), and
significantly improved BOW LITE PLUS (G.657 A1) and BOW LITE ENHANCED (G.657
A2.B2) fibers. All fibers have industry leading specifications for attenuation
and macro-bend loss with tight geometry control making them particularly
suitable for Fiber to the Home (FTTH) applications. Furthermore, Sterlite is
one of the few manufacturers in the world with the scale to offer novel
products for such applications.
Optical fiber
cables in FTTH networks experience several tight bends, especially in
distribution section of the network, drop cables found in Multi Dwelling Units,
and cables inside the homes. The use of bend insensitive G.657 fibers in FTTH
installations is required as carriers have to contend with tight power budgets, and uncertain deployment conditions
needing healthy safety margins. Additionally, since bandwidth demands of end
consumers keeps increasing at an exponential rate, carriers have to future
proof their network assets, even as they are deploying current generation
technology. With its significantly low macro bend loss and attenuation,
Sterlite family of bend insensitive fibers are the perfect solution to the
carriers’ FTTH needs, suited to all FTTH architectures and deployment
conditions.
Dr. Badri Gomatam,
Chief Technology Officer, Sterlite Technologies Limited, stated, “We are very
pleased with the launch of these products. Being committed to innovation in the
core market segments we serve, these new fibers augment Sterlite's product
portfolio in optical fibers, and positions Sterlite well in addressing the
growing demand for telecommunications infrastructure in India and abroad”.
The BOW LITE
series complies or exceeds ITU Recommendations and IEC 60793-2-50 optical fiber
specification.
About Sterlite
Technologies Limited
Sterlite
Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading
global provider of transmission solutions for the power and telecom industries.
Equipped with a product portfolio that includes power conductors, optical power
ground wire, EHV/HV power cables, optical fibers, telecommunication cables and
a comprehensive telecom systems / solutions portfolio, Sterlite's vision is to
'Connect every home on the planet'. Sterlite is also executing multimillion
dollar power transmission system projects, pan-India.
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. 59.82 |
|
|
1 |
Rs. 91.75 |
|
Euro |
1 |
Rs. 79.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.