MIRA
INFORM REPORT
|
Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAIPRAKASH ASSOCIATES LIMITED (w.e.f. 11.03.2004) |
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Formerly known as: |
JAYPEE CEMENT
LIMITED |
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Registered Office : |
Sector – 128, Noida
– 201304, Uttar Pradesh |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
15.11.1995 |
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Com. Reg. No.: |
20-019017 |
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Capital Investment/ Paid-up Capital : |
Rs. 4252.900
Millions |
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CIN No.: [Company Identification
No.] |
L14106UP1995PLC019017 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
LKNJ05124A |
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PAN No.: [Permanent
Account No.] |
APPLIEDFOR |
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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 : |
Manufacturing,
Importing and Exporting of Portland Cement and Clinker Cement. |
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No. of Employees : |
20000
(Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 17000000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established
and a reputed company of Jaypee group. There appears continuous dip in the
profitability recorded by the company. However, general
financial position seems to be good. The subject gets strong support from its
group companies. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be
considered normal for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
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Registered Office : |
Sector – 128,
Noida – 201304, Uttar Pradesh, India |
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Tel No.: |
91-120-4609000/
2470800 |
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Fax No.: |
91-120-4609464/
4609496 |
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E-Mail : |
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Website : |
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Corporate Office : |
Jai Annexe House, 63,
Basant Lok, Vasant Vihar, New Delhi – 110057, India |
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Tel. No.: |
91-11-26411540/
26147411/ 26149444/ 26141540 |
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Fax No.: |
91-11-26145389/
26148890/ 26143591 |
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E-Mail : |
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Head Office : |
G-Block, Surajpur Kasna Road, Grater Noida, Noida – 201306, Uttar
Pradesh, India |
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Factory 1 : |
Bela, Sadva Khurd, District |
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Factory 2 : |
Naubastae, Tanda,
District Faizabad, Uttar Pradesh, India
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Regional Office: |
45/21, Jaypee Rewa Bhawan Muir Road, Near Traffic Police Crossing,
Allahabad – 211002, Uttar
Pradesh, India |
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Tel No.: |
91-532-2266002/ 3/ 4 |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Jaiprakash
Gaur |
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Designation : |
Founder Chairman |
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Name : |
Mr. Sarat Kumar
Jain |
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Designation : |
Vice Chairman |
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Address : |
B1/12, Vasant Vihar, New
Delhi – 110057, India |
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Date of Birth : |
19.05.1938 |
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Date of Appointment : |
18.03.2004 |
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Election Commission Identify Card No.: |
DL02010243649 |
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DIN No.: |
00010073 |
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Name : |
Mr. Manoj Gaur |
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Designation : |
Managing
Director |
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Address : |
A9/27, Vasant
Vihar, New Delhi – 110057, India |
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Date of Birth : |
16.06.1964 |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
00008480 |
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Name : |
Mr. Sunil Kumar
Sharma |
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Designation : |
Whole Time
director |
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Address : |
E9/14, Vasant
Vihar, New Delhi – 110057, India |
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Date of Birth : |
01.07.1959 |
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Date of Appointment : |
18.03.2009 |
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Election Commission Identify Card No.: |
DL02010249931 |
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DIN No.: |
0008125 |
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Name : |
Mr. Ashok Kumar
Sahoo |
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Designation : |
Director (LIC
Nominee) |
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Address : |
Life Insurance
Corporation Of India, Jeevan Bhagya, Opposite Secretari at Saifabad,
Hyderabad – 500063, Andhra Pradesh, India |
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Date of Birth : |
15.03.1954 |
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Date of Appointment : |
01.03.2007 |
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DIN No.: |
01489592 |
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Name : |
Mr. Sunny Gaur |
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Designation : |
Managing Director (Cement) |
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Address : |
A9/27, Vasant
Vihar, New Delhi – 110057, India |
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Date of Birth : |
30.05.1969 |
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Date of Appointment : |
31.12.2009 |
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DIN No.: |
00008293 |
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Name : |
Mr. Ranvijay Singh |
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Designation : |
Whole-time
Director |
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Address : |
E2/11, Vasant
Vihar, New Delhi – 110057, India |
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Date of Birth : |
19.10.1966 |
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Date of Appointment : |
14.12.2007 |
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DIN No.: |
00020876 |
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Name : |
Mr. Rahul Kumar |
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Designation : |
Whole-time
Director and CFO |
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Address : |
B-67. Sarvodaya
Enclave, New Delhi – 110017, India |
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Date of Birth : |
23.02.1968 |
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Date of Appointment : |
31.10.2010 |
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DIN No.: |
00020779 |
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Name : |
Mr. Pankaj Gaur |
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Designation : |
Whole-time director (Construction) |
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Address : |
A1/7, Vasant
Vihar, New Delhi – 110057, India |
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Date of Birth : |
18.01.1971 |
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Date of Appointment : |
01.07.2009 |
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DIN No.: |
00008419 |
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Name : |
Mr. Shyam Dutt
Nailwal |
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Designation : |
Whole-time
Director |
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Address : |
75, Shreshta
Vihar, Delhi – 110092, India |
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Date of Birth/ Age : |
03.08.1947 |
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Date of Appointment : |
01.07.2009 |
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Election Commission Identify Card No.: |
DL04043234072 |
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DIN No.: |
00008529 |
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Name : |
Dr. Bidhubhusan.
Samal |
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Designation : |
Director |
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Address : |
Flat No.1101,
Lokhandwala Galaxy Junction of NM Joshi and KK Marg, Near S. Bridge Byculla
(West), Mumbai – 400011, Maharashtra, India |
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Date of Birth : |
02.03.1943 |
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Date of Appointment : |
21.09.2010 |
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DIN No.: |
00007256 |
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Name : |
Mr. Bal Krishna Taparia |
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Designation : |
Director |
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Address : |
75, Nagina Bagh,
Ajmer – 305001, Rajasthan, India |
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Date of Birth : |
27.11.1939 |
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Date of Appointment : |
27.12.2005 |
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DIN No.: |
00019760 |
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Name : |
Mr. Subhash Chandra Bhargava |
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Designation : |
Director |
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Address : |
1305-B Wing, Dosti Aster (Dosti Acres), New Uphill Link Road, Off S. M.
Road, Antop Hill, Wadala (East), Mumbai – 400037, Maharashtra, India |
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Date of Birth : |
20.07.1945 |
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Date of Appointment : |
27.12.2005 |
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DIN No.: |
00020021 |
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Name : |
Mr. Raj Narain Bhardwaj |
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Designation : |
Director |
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Address : |
402, Moksh Apartments, Upper Govind Nagar, Malad
(East), Mumbai – 400097, Maharashtra, India |
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Date of Birth : |
08.05.1945 |
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Date of Appointment : |
30.08.2007 |
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DIN No.: |
01571764 |
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Name : |
Mr. Suresh Chandra Gupta |
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Designation : |
Director |
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Address : |
B-186, Sector-44, Noida – 201303, Uttar Pradesh,
India |
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Date of Birth : |
01.08.1936 |
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Date of Appointment : |
21.02.2008 |
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DIN No.: |
01127801 |
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Name : |
Mr. Basant Kumar Goswami |
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Designation : |
Director |
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Address : |
F-4, Kailash Colony, New Delhi – 110048, India |
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Date of Birth : |
29.01.1935 |
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Date of Appointment : |
01.03.2007 |
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DIN No.: |
00003782 |
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Name : |
Mr. Ravindra Kumar Singh |
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Designation : |
Whole-time Director |
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Address : |
404, Palmgrove Apartment, F5, Sector 50, Noida –
201301, Uttar Pradesh, India |
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Date of Birth : |
13.07.1945 |
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Date of Appointment : |
27.08.2008 |
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DIN No.: |
01859229 |
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Name : |
Mr. Viney Kumar |
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Designation : |
IDBI Nominee Director |
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Address : |
A/132, Twin Tower,
Prabha Devi, V S Marg, Mumbai – 400025, Maharashtra, India |
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Date of Birth : |
04.06.1956 |
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Date of Appointment : |
01.11.2010 |
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DIN No.: |
00191129 |
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Name : |
Mr. Vijay Kumar Chopra |
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Designation : |
Director |
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Address : |
4-A, 4th
Floor, Harmony Tower, Dr. E Moses Road, Worli, Mumbai – 400018, Maharashtra,
India |
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Date of Birth : |
06.03.1946 |
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Date of Appointment : |
21.09.2010 |
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Election Commission Identify Card No.: |
DL02009192293 |
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DIN No.: |
02103940 |
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Name : |
Mr. Homai A. Darewalla |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Harish Kumar
Vaid |
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Designation : |
Senior President
(Corporate Affairs) and Company Secretary |
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Address : |
C1/1172, Vasant
Kunj, New Delhi – 110070, India |
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Date of Birth : |
19.01.1954 |
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Date of Appointment : |
18.03.2004 |
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PAN No.: |
AABPV9638C |
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Election Commission Identify Card No.: |
DL/03/018/256029 |
SHAREHOLDING PATTERN
AS ON 31.03.2013
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
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|
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|
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|
69979758 |
3.15 |
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|
733491146 |
33.05 |
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|
189316882 |
8.53 |
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|
189316882 |
8.53 |
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|
992787786 |
44.74 |
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|
99760 |
0.00 |
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|
99760 |
0.00 |
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Total shareholding of Promoter and Promoter Group (A) |
992887546 |
44.74 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
189638729 |
8.55 |
|
|
8725091 |
0.39 |
|
|
111450405 |
5.02 |
|
|
505223642 |
22.77 |
|
|
815037867 |
36.73 |
|
|
|
|
|
|
115060840 |
5.19 |
|
|
|
|
|
|
232787855 |
10.49 |
|
|
20523941 |
0.92 |
|
|
42785510 |
1.93 |
|
|
10090929 |
0.45 |
|
|
9358063 |
0.42 |
|
|
178250 |
0.01 |
|
|
13445869 |
0.61 |
|
|
9712399 |
0.44 |
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|
411158146 |
18.53 |
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Total Public shareholding (B) |
1226196013 |
55.26 |
|
Total (A)+(B) |
2219083559 |
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) |
2219083559 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Importing and Exporting of Portland Cement and Clinker Cement. |
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Products : |
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PRODUCTION STATUS (AS ON : 31.03.2012)
|
Particulars |
Unit |
Actual Production |
|
Cement
Production |
MT |
13,341,389 |
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Clinker
Production |
MT |
9,808,903 |
|
Cement and
Clinker Sale (MT) (including
Self-Consumption) |
MT |
14,126,107 |
GENERAL INFORMATION
|
No. of Employees : |
20000 (Approximately) |
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Bankers : |
·
Allahabad Bank ·
Andhra Bank ·
AKA Export Finance
Bank ·
Axis Bank Limited ·
Bank of Baroda ·
Bank of Bhutan ·
Bank of India ·
Bank of
Maharashtra ·
Canara Bank ·
Central Bank of
India ·
Citi Bank N.A. ·
Corporation Bank ·
Export Import Bank
of India ·
HDFC Bank Limited ·
HSBC Limited ·
ICICI Bank Limited ·
Indian Bank ·
Indian Overseas
Bank ·
IDBI Bank Limited ·
Karur Vysya Bank ·
Karnataka Bank ·
Kotak Mahindra
Bank ·
Oriental Bank of
Commerce ·
Punjab National
Bank ·
Punjab and Sind
Bank ·
Royal Bank of
Scotland ·
Standard Chartered
Bank ·
State Bank of
India ·
State Bank of
Hyderabad ·
State Bank of
Indore ·
State Bank of
Mysore ·
State Bank of
Patiala ·
State Bank of
Sikkim ·
State Bank of
Travancore ·
State Bank of Bikaner
and Jaipur ·
Syndicate Bank ·
The Jammu and
Kashmir Bank Limited ·
UCO Bank ·
Union Bank of
India ·
United Bank of
India ·
Vijaya Bank ·
Yes Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M. P. Singh and
Associates Chartered
Accountants |
|
Address : |
B-8/14, Vasant
Vihar, New Delhi-110057, |
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Tel. No.: |
91-11-26141979 |
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Fax No.: |
91-11-26148150 |
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E-Mail : |
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Subsidiary
Companies [including their subsidiaries] : |
·
Jaiprakash Power Ventures Limited ·
Jaypee Infratech Limited ·
Himalyan Expressway Limited ·
Jaypee Ganga Infrastructure Corporation Limited ·
Jaypee Sports International Limited ·
Jaypee Agra Vikas Limited [w.e.f. 16.11.2009] ·
Jaypee Cement Corporation Limited [w.e.f.
22.02.2011] ·
Jaypee Fertilizers and Industries Limited [w.e.f.
03.06.2010] ·
Sangam Power Generation Company Limited [w.e.f. 23.07.2009][subsidiary of Jaiprakash Power Ventures Limited] ·
Prayagraj Power Generation Company Limited [w.e.f. 23.07.2009][subsidiary of
Jaiprakash Power Ventures Limited] ·
Jaypee Meghalaya Power Limited [w.e.f.
26.08.2010] [subsidiary of Jaiprakash Power Ventures Limited] ·
Jaypee Karcham Hydro Corporation Limited ·
Bina Power Supply Company Limited [subsidiary of
Jaiprakash Power Ventures Limited |
|
|
|
|
Joint Venture
Subsidiaries : |
·
Bhilai Jaypee Cement Limited ·
Bokaro Jaypee Cement Limited ·
Gujarat Jaypee Cement and Infrastructure Limited ·
Jaypee Powergrid Limited [Joint Venture
Subsidiary Company of Jaiprakash Power Ventures Limited] ·
Jaypee Arunachal Power Limited [Joint Venture
Subsidiary Company of Jaiprakash Power Ventures Limited] ·
Madhya Pradesh Jaypee Minerals Limited [till
02.03.2011] |
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Associate
Companies : |
·
Jaypee Ventures Private Limited ·
Jaypee Development Corporation Limited ·
Jaiprakash Kashmir Energy Limited ·
JIL Information Technology Limited ·
Gaur and Nagi Limited ·
Indesign Enterprises Private Limited ·
Sonebhadra Minerals Private Limited ·
RPJ Minerals Private Limited ·
Jaiprakash Agri Initiatives Company Limited ·
Tiger Hills Holiday Resort Private Limited ·
Anvi Hotels Private Limited ·
Sarveshwari Stone Products Private Limited ·
Rock Solid Cement Limited ·
MP Jaypee Coal Limited ·
Jaypee International Logistics Company Private
Limited ·
Jaypee Hotels Limited ·
Jaypee Mining Venture Private Limited ·
Jaypee Infra Ventures (A Private Company with
unlimited liability) ·
Indus Hotels UK Limited ·
Ceekay Estates Private Limited ·
Jaiprakash Exports Private Limited ·
Bhumi Estate Developers Private Limited ·
PAC Pharma Drugs and Chemicals Private Limited ·
Jaypee Technical Consultants Private Limited ·
Jaypee Uttar Bharat Vikas Private Limited ·
Kanpur Fertilizers and Cement Limited ·
Madhya Pradesh Jaypee Minerals Limited [w.e.f.
03.03.2011] ·
MP Jaypee Coal Fields Limited ·
GM Global Mineral Mining Private Limited ·
Ibonshourne Limited ·
Vasujai Estates Private Limited ·
Samsun Estates Private Limited ·
Sunvin Estates Private Limited ·
Manumanik Estates Private Limited ·
Arman Estates Private Limited ·
Suneha Estates Private Limited ·
Pee Gee Estates Private Limited ·
Vinamra Housing and Constructions Private Limited ·
Associate Companies at Sl.No.[xxxi] to [xxxviii] merged
with Jaypee Ventures Private Limited w.e.f. 01.04.2009 |
|
|
|
|
Relatives of Key
Management Personnel, where transactions have taken place : |
·
Shri Gyan Prakash Gaur ·
Shri Naveen Kumar Singh ·
Smt Neha Goyal ·
Shri Pawan Kumar Jain [till 31.03.2010] ·
Smt.Rekha Dixit [till 31.08.2009] ·
Smt Manju Sharma [till 30.06.2009] |
Note: Related party relationships are as
identified by the Company and relied upon by the Auditors.
CAPITAL STRUCTURE
AFTER 27.09.2012
Authorised Capital : Rs.25600.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.4438.167
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12344000000 |
Equity Shares |
Rs.2/- each |
Rs. 24688.000 Millions |
|
3120000 |
Preference Shares |
Rs.100/- each |
Rs. 312.000 Millions |
|
|
TOTAL |
|
Rs. 25000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2126433182 |
Equity Shares |
Rs.2/- each |
Rs. 4252.900
Millions |
Issued, Subscribed
and Paid-up Share Capital in number comprises of
860,865,055 Equity
Shares [Previous Year 860,865,055] allotted for consideration other than cash
in terms of the Scheme
of Amalgamation effective from 11.03.2004;
20,219,850 Equity
Shares [Previous Year 20,219,850] allotted for cash under “Jaypee Employees
Stock Purchase Scheme 2002”;
173,178,150 Equity
Shares [Previous Year 173,178,150] allotted for cash on conversion of Foreign
Currency Convertible Bonds;
124,378,825 Equity
Shares [Previous Year 124,378,825] allotted in terms of Scheme of Amalgamation
effective from 22.08.2006;
10,000,000 Equity
Shares [Previous Year 10,000,000] allotted for cash to Promoters on Preferential
Basis;
218,010,985 Equity
Shares [Previous Year 218,010,985] allotted pursuant to Scheme of Amalgamation
effective from 27.05.2009;
12,500,000 Equity
Shares [Previous Year 12,500,000] allotted for cash under “Jaypee Employees Stock
Purchase Scheme 2009” and
707,280,317 Equity
Shares [Previous Year 707,280,317] allotted as Bonus Shares .
Reconciliation of the Number of Shares Outstanding at the beginning and
at the end of the reporting period:
|
Particulars |
AS ON 31.03.2012 |
|
|
Number |
Rs in Millions |
|
|
Equity Shares at the beginning of the year |
2,126,433,182 |
4252.900 |
|
Equity Shares at the end of the year |
2,126,433,182 |
4252.900 |
Terms / Rights
The Company has issued
only one class of equity shares having a par value of Rs. 2/- per share. Each
holder of equity share is entitled to one vote per share. Each share is
entitled to equal dividend declared by the Company and approved by the Share
holders of the Company.
In the event of
liquidation, each share carry equal rights and will be entitled to receive
equal amount per share out of the remaining amount available with the Company
after making preferencial payments.
Details of Shareholder holding more than 5% Shares:
|
Name of
Shareholder |
Number |
% holding |
|
Jaypee Infra
Ventures [a Private Company with unlimited liability] |
717,656,303 |
33.75 |
|
Life Insurance
Corporation of India and Mutual Fund |
109,239,797 |
5.14 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
30.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4252.900 |
4252.900 |
4249.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
118790.100 |
89720.800 |
80757.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
123043.000 |
93973.700 |
85007.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
132349.300 |
131850.300 |
113580.100 |
|
|
2] Unsecured Loans |
28813.600 |
57552.900 |
65507.000 |
|
|
TOTAL BORROWING |
161162.900 |
189403.200 |
179087.100 |
|
|
DEFERRED TAX LIABILITIES |
12437.200 |
11939.800 |
9232.500 |
|
|
|
|
|
|
|
|
TOTAL |
296643.100 |
295316.700 |
273326.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
109446.600 |
119668.400 |
106186.800 |
|
|
Capital work-in-progress |
44815.200 |
55827.600 |
38916.400 |
|
|
|
|
|
|
|
|
INVESTMENT |
68824.700 |
64837.500 |
55762.600 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16914.900
|
16664.500 |
29096.800 |
|
|
Sundry Debtors |
28663.700
|
13005.400 |
22850.300 |
|
|
Cash & Bank Balances |
10222.300
|
24625.200 |
358791.800 |
|
|
Other Current Assets |
62100.800
|
15364.500 |
0.000 |
|
|
Loans & Advances |
43091.900
|
49378.600 |
303.800 |
|
|
Project under Development |
23363.100
|
16168.600 |
39947.200 |
|
Total
Current Assets |
184356.700
|
135206.800 |
130989.900 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22255.000
|
18583.100 |
12970.900 |
|
|
Other Current Liabilities |
85925.100
|
60075.700 |
39043.400 |
|
|
Provisions |
2620.000
|
1564.800 |
6514.600 |
|
Total
Current Liabilities |
110800.100
|
80223.600 |
58528.900 |
|
|
Net Current Assets |
73556.600
|
54983.200 |
72461.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
296643.100 |
295316.700 |
273326.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
30.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
128531.200 |
130927.900 |
100889.100 |
|
|
|
Other Income |
2644.900 |
2259.200 |
15828.700 |
|
|
|
TOTAL (A) |
131176.100 |
133187.100 |
116717.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of
Materials Consumed |
28644.700 |
30051.700 |
|
|
|
|
Changes in
Inventories of Finished Goods & Workin- Progress |
(536.200) |
(1366.600) |
|
|
|
|
Manufacturing, Construction,
Real Estate, Hotel/ Hospitality & Power Expenses |
42345.000 |
49611.600 |
77782.600 |
|
|
|
Employee
Benefits Expense |
6613.200 |
5957.200 |
|
|
|
|
Other Expenses |
17068.000 |
15851.300 |
|
|
|
|
TOTAL (B) |
94134.700 |
100105.200 |
77782.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37041.400 |
33081.900 |
38935.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17817.400 |
14583.000 |
10557.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19224.000 |
18498.900 |
28377.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6141.500 |
6093.800 |
4560.600 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period
Adjustment |
60.900 |
8.400 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
13143.400 |
17545.100 |
23816.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2879.600 |
5867.300 |
6733.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
10263.800 |
11677.800 |
17083.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
38128.100 |
26450.300 |
18796.800 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.000 |
0.000 |
9564.200 |
|
|
|
BALANCE CARRIED
TO THE B/S |
48391.900 |
38128.100 |
26450.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Cement Exports [FOB Value] |
75.200 |
49.700 |
29.622 |
|
|
|
Contract Receipts |
397.900 |
0.000 |
0.000 |
|
|
|
Hospitality |
258.000 |
231.200 |
208.154 |
|
|
|
Interest |
1.900 |
2.500 |
77.427 |
|
|
|
Others |
0.000 |
0.200 |
34.664 |
|
|
|
Advance received from Real Estate Customers |
46.400 |
67.300 |
54.623 |
|
|
TOTAL EARNINGS |
779.400 |
350.900 |
404.490 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores and Spares |
683.900 |
610.900 |
3924.363 |
|
|
|
Capital Equipment [including Capital Work-in-Progress] |
1227.900 |
4659.500 |
3925.636 |
|
|
|
Steel Plates |
0.000 |
6.800 |
0.314 |
|
|
|
Raw Materials |
3081.800 |
640.800 |
251.486 |
|
|
|
Hydro Mechanical and Electromechanical Equipment |
482.100 |
4192.200 |
1306.913 |
|
|
|
Others |
8.800 |
11.400 |
0.112 |
|
|
TOTAL IMPORTS |
5484.500 |
10121.600 |
9408.824 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
4.83 |
5.49 |
7.89 |
|
|
|
Diluted |
4.64 |
5.27 |
7.89 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
4th
Quarter |
|
Net Sales |
30081.300 |
30049.900 |
34308.700 |
39073.800 |
|
Total Expenditure |
21923.200 |
21914.400 |
26358.500 |
30135.200 |
|
PBIDT (Excl OI) |
8158.100 |
8135.500 |
7950.200 |
8938.600 |
|
Other Income |
285.400 |
223.300 |
851.500 |
246.900 |
|
Operating Profit |
8443.500 |
8358.800 |
8801.700 |
9185.500 |
|
Interest |
4652.600 |
4643.600 |
5327.000 |
5490.300 |
|
Exceptional Items |
09.300 |
32.800 |
08.100 |
42.800 |
|
PBDT |
3800.200 |
3748.000 |
3482.800 |
3738.000 |
|
Depreciation |
1763.300 |
1777.800 |
1812.900 |
1907.500 |
|
Profit Before Tax |
2036.900 |
1970.200 |
1669.900 |
1830.500 |
|
Tax |
648.500 |
690.100 |
560.600 |
595.500 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1388.400 |
1280.100 |
1109.300 |
1235.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1388.400 |
1280.100 |
1109.300 |
1235.000 |
|
Net Sales |
30081.300 |
30049.900 |
34308.700 |
39073.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.82
|
8.77 |
14.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.22
|
13.40 |
23.61
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.62
|
5.49 |
10.04
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.19 |
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.31
|
2.02 |
2.11
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.68 |
2.24
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED
LOAN
|
Particulars |
Rs. In Millions 31.03.2012 |
Rs. In Millions 31.03.2011 |
|
Foreign Currency
Convertible Bonds |
|
|
|
(i) FCCB-II
[EURO] |
0.000 |
109.200 |
|
(ii) FCCB-III
[USD] |
0.000 |
16001.000 |
|
Foreign Currency
Loans from Banks [ECB] |
|
|
|
(i) ECB [USD] |
4370.700 |
7154.200 |
|
(ii) ECB [GBP] |
2126.000 |
2234.800 |
|
(iii) ECB [CAD] |
2196.100 |
2308.500 |
|
Loans From Banks |
2037.600 |
2082.400 |
|
Fixed Deposits
Scheme |
9566.700 |
12560.400 |
|
Loans from Banks |
3885.900 |
1669.100 |
|
Bills
Discounting |
4510.000 |
3272.500 |
|
Commercial
Papers |
0.000 |
10000.000 |
|
Fixed Deposit Scheme |
120.600 |
160.800 |
|
|
|
|
|
TOTAL |
28813.600 |
57552.900 |
CONTINGENT
LIABILITY NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2012 (Rs in Million) |
|
[a]Claims against
the Company / Disputed Liability [including Tax] not acknowledged as debts |
17834.700 |
|
Amount deposited under Protest |
4274.500 |
|
Bank Guarantee deposited under Protest [included in (b) below] |
1494.500 |
|
[b] Outstanding amount of Bank Guarantees |
16392.700 |
|
Margin Money deposited against the above |
88.400 |
|
[c] Income Tax matters under appeal |
408.200 |
HIVING OFF OF
CERTAIN UNDERTAKINGS OF THE COMPANY INTO ITS WHOLLY OWNED SUBSIDIARY COMPANY
The Scheme of
Arrangement between Jaiprakash Associates Limited (Demerged/ Transferor
Company) and its wholly owned subsidiary namely Jaypee Cement Corporation
Limited (JCCL) (Resulting/Transferee Company) and their respective Members and
Creditors for hive off of five undertakings of the Company (South Cement Plant,
West Cement Plant, Asbestos Sheet Plants, Foundry and Heavy Engineering Works)
into JCCL w.e.f. the Appointed Date, i.e., April 1, 2011, as approved by the
Members and Creditors of both the companies, was sanctioned by the Hon’ble High
Court of Judicature at Allahabad on April 9, 2012.
Consequent upon
the sanction of the Scheme, the certified copy of the Order dated April 9, 2012
of the Hon’ble High Court was filed by the respective Companies with the
Registrar of Companies on April 18, 2012 and the Scheme having thus become
effective, all the five undertakings stood hived off from The Company into JCCL
w.e.f. April 1, 2011, being the Appointed Date.
The Directors
believe that the hive off would, inter-alia, facilitate unlocking and enhancing
shareholders’ value.
FOREIGN CURRENCY
CONVERTIBLE BONDS (FCCBs)
During the year
under report, FCCBs-II aggregating Euro 1.451 million were redeemed on April 9,
2011, on exercise of put option by the bondholders. There was no other change
in conversion or redemption of FCCBs during the year.
As on March 31,
2012, the outstanding amounts against FCCB-II and FCCB-III were to the tune of
Euro 0.255 Million (i.e. 0.155% of the Issue size) and US $ 354.475 Million
(i.e. 88.619% of the Issue size) respectively; FCCB-I (Issue size US $ 100
Million) stood fully extinguished on February 17, 2010.
The particulars
about conversion, outstanding amount, coupon, date of redemption, listing etc.
of FCCBs-II (Issue size – Euro 165 Million.) and FCCBs-III (Issue size – US $
400 Million.) are detailed in para 26 of the Corporate Governance Report
forming part of this Report.
Operational
Performance
During the year,
the Company has successfully commissioned its Grinding Unit at Baga, Himachal
Pradesh (1.50 MTPA). The Company has also commissioned a slag based cement
plant of 2.10 MTPA capacity, in joint venture with Steel Authority of India
LIMITED at Bokaro, Chattisgarh.
POWER AND RELATED
BUSINESS
1.
JAIPRAKASH POWER VENTURES LIMITED (JPVL)
OPERATIONS
The Company now
has three operative Hydro-Electric Power Plants, namely,
i) 300 MW Jaypee
Baspa-II Hydro-Electric Power Plant in Himachal Pradesh;
ii) 400 MW Jaypee
Vishnuprayag Hydro-Electric Power Plant in Uttarakhand; and
iii) 1000 MW
Jaypee Karcham Wangtoo Hydro-Electric Power Plant in Himachal Pradesh.
The Company is
also implementing two Thermal Power Projects, namely,
i) 1320 MW (2 x
660 MW) Jaypee Nigrie Super Thermal Power Project in Nigrie, Distt. Singrauli
in Madhya Pradesh.
ii) 1250 MW Jaypee
Bina Thermal Power Plant in Madhya Pradesh (Phase-I of 500 MW shall be fully
commissioned in FY 2012-13.)
The performance of
the Company’s operative Plants, their plant availability and the Energy
Generation during the
year under report
were very good. The Plant Availability and Energy Generation of each of the
Plants for the
Financial Year
from 1st April, 2011 to 31st March, 2012 were as under:
|
Plant |
Plant Availability (%) |
Net Saleable Energy Generation (Million Units) |
|
BASPA-II (300 MW) |
99.97 |
1221.83 |
|
Vishnuprayag (400 MW) |
98.58 |
1889.20 |
|
Karcham Wangtoo (1000MW) |
99.70 |
2248.12 |
NATIONAL AWARDS
Baspa-II Hydro Power
Plant was conferred with Gold Shield for the year 2009-10 and a Silver Shield
for the year 2010- 11, by Ministry of Power, Government of India under the
category ‘Performance of Hydro Power Stations’.
1320 MW JAYPEE
NIGRIE SUPER THERMAL POWER PROJECT
The implementation
of 1320 MW (2 X 660 MW) Jaypee Nigrie Super Thermal Power Project in Nigrie,
Distt. Singrauli in Madhya Pradesh is progressing satisfactorily to achieve
commissioning of both the units in the year 2014. Supplies from L and T- MHI
and Larsen and Toubro Limited for Steam Generator and Steam Turbine Generator
respectively are being received timely. All major statutory approvals, required
at the current stage of the project are in place. Entire requirement of 5
Million MTPA coal for the project will be met through Amelia (North) and Dongri
Tal-II Coal Blocks.
The Financial
Closure of the project has already been achieved. As on 31st March, 2012, an
amount of approx. Rs. 37760.000 Millions has already been incurred on the
Project.
1250 MW JAYPEE
BINA THERMAL POWER PLANT
Jaypee Bina
Thermal Power Plant is located at Village Sirchopi, Distt. Sagar, M.P. This
1250 MW coal-based Thermal Power Plant is being implemented in two phases
comprising Phase I (2x250 = 500 MW) and Phase II (3x250 = 750 MW). First unit
of Phase I i.e. 250 MW is expected to be commissioned by July, 2012 and the
second unit of 250 MW in further four to six months.
The Company shall
supply 70% of the installed capacity for phase-I to Govt. of Madhya Pradesh / MP
Power Trading Corporation LIMITED. (MPPTCL) in terms of the Power Purchase
Agreement executed with them and balance of installed capacity will be sold on
merchant power basis. An amount of around Rs. 27000.000 Millions has already
been spent upto 31st March, 2012 in this project.
DIVERSIFICATION TO
SET-UP CEMENT GRINDING UNITS IN JPVL
With a view to
optimally utilize the fly ash that would be generated by the thermal power
plants being set up by JPVL at Nigrie and Bina, it has decided to set-up two
cement grinding and blending units, as per details given below
i) 4 MTPA Cement
Grinding and Blending Unit at Jaypee Nigrie Thermal Power Project.
ii) 2 MTPA Cement
Grinding and Blending Unit at Jaypee Bina Thermal Power Plant.
2.
JAYPEE ARUNACHAL POWER LIMITED (JAPL)
Jaypee Arunachal
Power Limited (JAPL), a wholly-owned subsidiary of JPVL is implementing the
2700 MW Lower Siang and 500 MW Hirong H.E. Projects in the State of Arunachal
Pradesh. The Company alongwith its associates will ultimately hold 89% of the
Equity of JAPL and the balance 11% will be held by the Government of Arunachal
Pradesh.
For the 2700 MW
Lower Siang Hydro-Electric Project, investigations, land acquisition and
seismic data collection are in progress. JAPL is in the process of obtaining
clearance from the Ministry of Environment and Forest. For 500 MW Hirong
Hydro-electric Project, Detailed Project Report has been submitted to Central
Electricity Authority
and is in advance
stage of concurrence. While an amount of around Rs. 2060.000 Millions has been
spent on the 2700 MW Lower Siang Hydro-Electric Project till 31st
March, 2012, around Rs. 280.000 Millions has been spent on 500 MW Hirong
Hydro-Electric Project till 31st March, 2012.
3.
JAYPEE POWERGRID LIMITED (JPL)
Jaypee Powergrid
Limited (JPL), a joint venture of Jaiprakash Power Ventures Limited and Power
Grid Corporation of India Limited, a Central Government Power Utility
Undertaking has set up 213 Km long 400 Kv Quad Bundle Conductor Double Circuit
Transmission Line for evacuation of Power from the pothead yard of 1000 MW
Karcham Wangtoo Plant to Abdullapur and LILO of existing Baspa-Jhakri Double
circuit line.
Transmission
system was commissioned on 6th March, 2012 and has been put under commercial
operations w.e.f. 1st April, 2012. Pending capitalization, capital
expenditure as on 31st March, 2012 was Rs. 9760.000 Millions.
4.
SANGAM POWER GENERATION COMPANY LIMITED (SPGCL)
SPGCL was acquired
from Uttar Pradesh Power Corporation Limited through competitive bidding
process, for implementation of 1980 MW (3x660 MW) Thermal Power Project in
Tehsil Karchana of district Allahabad, Uttar Pradesh. Conveyance Deed of land
was executed but physical possession was yet to be handed over. In view of
order dated 13th April, 2012 of Hon’ble High Court of Judicature at Allahabad,
quashing the notification issued by the Government of Uttar Pradesh for
acquisition of land, further implications are being examined by the State
Government/ Company.
5.
PRAYAGRAJ POWER GENERATION COMPANY LIMITED (PPGCL)
PPGCL which was
acquired by Jaiprakash Power Ventures Limited from Uttar Pradesh Power
Corporation Limited through competitive bidding process, is implementing 1980
MW Thermal Power Project (with permission to add two additional generation
units of 660MW each) in Tehsil Bara of district Allahabad, Uttar Pradesh.
All
Statutory/Regulatory approvals required for the current stage of the project
are in place. Financial Closure for entire debt of Rs. 80850.000 Millions has
been achieved. The supplies from BHEL for Boiler, Turbine and Generator are in
progress and the works on the project are progressing satisfactorily. An
expenditure of approx. Rs. 26220.000 Millions has been incurred on the project
till 31st March, 2012.
6.
JAYPEE MEGHALAYA POWER LIMITED (JMPL)
JMPL was
incorporated by Jaiprakash Power Ventures Limited (JPVL) as its wholly owned
subsidiary to implement 270 MW Umngot H.E.P. in the Umngot River Basin of
Meghalaya and 450 MW Kynshi-II Hydro-Electric Power Projects in the Kynshi
River Basin on Build, Own, Operate and Transfer(BOOT) basis. JPVL alongwith its
associates will ultimately hold 74% of the equity of JMPL and the balance 26%
will be held by the Government of Meghalaya. The works on the project are in
initial stages. An amount of around Rs. 58.000 Millions has been spent on
Kynsi-II Hydroelectric Power Project and Rs.13.500 Millions on Unmgot Hydro-
Electric Power Project till 31st March, 2012.
CEMENT BUSINESS
7.
BHILAI JAYPEE CEMENT LIMITED (BJCL)
The Clinkerisation
plant of BJCL, a joint venture between JAL and SAIL, at Satna and grinding
plant at Bhilai are functionally capable of producing at more than the
respective rated capacities. However, the grinding plant had been perennially
facing shortage of slag due to lesser supply from Bhilai Steel Plant (BSP) than
committed under the long-term agreement. Resultantly, there had been
significant shortfall in production than planned. The production at the
clinkerisation plant, being inter-linked with the production at the grinding
plant, has also been facing problem due to restricted outflow of clinker and
mduring the year this plant had to be shut down for two months for large
accumulation of clinker stock. The matter regarding augmentation of slag supply
is under constant persuasion with SAIL.
8.
BOKARO JAYPEE CEMENT LIMITED (BOJCL)
On completion of
project activities, the Grinding Unit of the Company, a joint venture between
JAL and SAIL, at Bokaro, Jharkhand has been timely and successfully
commissioned. Despatch of cement has also started from this unit from June
2011. Though a new entrant in the field, with a good brand image, the Company’s
product has been well accepted in the market as a premium product.
The cost of the
Project, initially estimated at Rs. 4050.000 Millions plus a contingency of 10%
(Rs.405.000 Millions) i.e. Rs. 4455.000 Millions, has escalated to Rs. 4950.000
Millions for various factors, beyond control of the Company. Funding towards
the Project Cost up to Rs. 4455.000 Millions has been financed in terms of the
Shareholders’ Agreement (SHA) executed between JAL and SAIL. The project cost
beyond Rs. 4455.000 Millions has been financed by JAL through cash
contributions made from time to time.
9.
GUJARAT JAYPEE CEMENT and INFRASTRUCTURE LIMITED
(GJCIL)
GJCIL, is a Joint
Venture between JAL and Gujarat Mineral Development Corporation Limited (GMDC),
inter-alia, to implement a 2.4 Million tonnes per annum capacity cement plant
in District Kutch, Gujarat.
GJCIL requires approximately
484 hectares of land for setting up the Project. The land identified for the
Project
comprises 27
hectares of Private land and 457 hectares of Government land.
Major part of
Private land (22 hectares) has been purchased by GJCIL. However, pending
approval and issue of the new Jantri for fixing the rates for valuation of
Government land by the Government of Gujarat, the Government land is yet to be
acquired by GJCIL. The matter is under active and close persuasion with the
State Government.
Further activities
on Project implementation shall commence after acquisition of Government land.
10.
JAYPEE CEMENT CORPORATION LIMITED (JCCL)
JCCL, a wholly
owned subsidiary of The Company, is setting up an integrated cement plant with
3.0 Mn tpa cement grinding capacity alongwith 26 MW captive power plant at
estimated project cost of Rs.14000.000 Millions at Shahabad Distt., Gulbarga,
Karnataka. The project is scheduled to be commissioned by September 30, 2013.
As stated earlier
in this Report, the five undertakings of The Company, viz., South Cement Plant,
West Cement Plant, Asbestos Sheet Plants, Foundry and Heavy Engineering Works,
stood hived off into JCCL w.e.f. April 1, 2011.
With a view to
unlock the shareholders’ value, JCCL is now looking for a strategic investor
and is also considering other options of restructuring its cement business.
11.
JAYPEE ASSAM CEMENT LIMITED (JACL)
For the purpose of
setting up a 2 Million Ton per annum capacity Cement Plant in the North Cachar
Hills Distt of Assam, in Joint Venture with Assam Mineral Development
Corporation Limited. (AMDC), Jaypee Assam Cement Limited has been formed, as a
special purpose vehicle, initially as wholly-owned subsidiary of JAL. The same
shall be converted as a Joint Venture Company (JVC) with JAL and AMDC as JV
partners having a shareholding ratio of 82:18 between themselves, as per the
Shareholders’ Agreement.
While JAL shall
hold the shares for cash consideration, shares shall be allotted to AMDC in
consideration of the
exclusive mining
rights of the mineral block identified for this Company. Under the SHA, the
management and control of the JVC is vested in JAL. The indicative estimate of
the Project Cost is Rs.10500.000 Millions with a debt equity ratio of 70 : 30.
Project Status
Pending incorporation
of JACL, 750 bighas of land was allotted to JAL in January, 2011 by Dima Hasao
Autonomous Council in the vicinity of AMDC land on 30 years’ lease. On payment
of necessary premium amount,
an agreement in
this regard has been executed between Dima Hasao Autonomus Council and The
Company (JAL). Formal agreement for transfer of this land to JACL shall be
executed among JAL, Dima Hasao Autonomous Council and JACL in due course.
Government of India,
Ministry of Environment and Forest (MoEF) has, vide its letter F. No.
J-11011/420/2011-1A-II(I) dated October 13, 2011, prescribed Terms of Reference
for preparation of EIA/EMP Report for the proposed 2 MTPA Cement plant and 35
MW Captive Power Plant. The Company had deployed necessary resources for
expeditious collection of data and preparation of EIA/EMP Report for submission
to MoEF.
However, due to
adverse security situation resulting in loss of precious human life after
abduction of one of the senior executives of the Company, all project
activities had to be suspended since mid-January 2012.
EXPRESSWAYS AND
RELATED BUSINESS
12.
JAYPEE INFRATECH LIMITED (JIL)
The construction
of Yamuna Expressway, as on 31st March, 2012 was complete as far as the Earth
work, Culverts, Vehicular Underpasses and Minor Bridges Interchanges and
Pavement Quality Concrete (PQC) / Dry Lean Concrete (DLC). Though the
Concession Agreement envisaged the completion of the Expressway by April, 2013,
but the Project is expected to achieve commercial operations by June, 2012.
JIL has also been
provided the right to develop 25 million square meters of land for commercial,
amusement, industrial, institutional and residential purposes etc. in five
different locations along the Yamuna Expressway - one inNoida, two in District
Gautam Budh Nagar (part of NCR) and one each in District Aligarh and District
Agra, Uttar Pradesh. JIL has fully developed its land parcels at Noida and
Mirzapur and has sold 109 lac sq. feet area during
Financial Year
2011-12 and plans to sell 184 lac sq. feet area during 2012-13.
13.
JAYPEE GANGA INFRASTRUCTURE CORPORATION LIMITED
(JGICL)
JGICL was
incorporated as a wholly-owned subsidiary of Jaiprakash Associates Limited for
implementation of the
“Ganga Expressway
Project” consisting of the prestigious 1047 km long 8-lane Access-Controlled
Expressway connecting Greater Noida with Ghazipur-Ballia along the left bank of
river Ganga on Design, Build, Finance and Operate (DBFO) basis together with
the development of 12,281 hectares of land parcels at eight different locations
in Uttar Pradesh in terms of the Concession Agreement executed between Uttar
Pradesh Expressways Industrial Development Authority and JGICL on March 23,
2008.
Preparatory work for the Project was started.
Consequent upon the Order of Hon’ble High Court of Allahabad dated 29.05.2009
quashing the Environment Clearance earlier issued by State Environment Impact
Assessment Authority (SEIAA), fresh application for the Environmental Clearance
was filed which is still pending. Since there are lot of uncertainties in
respect of Environment Clearance, due to various developments like farmers
unrest etc, the Government of Uttar Pradesh agreed to return the Bank Guarantee
on the condition that Company would revive the Bank Guarantee, when called upon
after the project gets Environmental Clearance.
14.
HIMALYAN EXPRESSWAY LIMITED (HEL)
HEL, was
incorporated as a Special Purpose Vehicle (SPV) for the implementation of
Zirakpur-Parwanoo Expressway Project in the States of Punjab, Haryana and
Himachal Pradesh. The construction of Plain Section of 17.4 km (fourteen lane
toll plaza) and 10.19 km By-pass section has been completed and the project
stands successfully commissioned.
HEL has started
collecting the toll w.e.f. 6th April, 2012. The project was formally
inaugurated and dedicated to the Nation on 19th April, 2012 in the presence of
Dr. C.P.Joshi, Hon’ble Union Minister, Ministry of Road Transport and Highways,
Ms.Kumari Selja, Hon’ble Union Minister, Ministry of Culture and Ministry of
Housing and Urban Poverty Alleviation, Shri Bhupinder Singh Hooda, Hon’ble
Chief Minister of Haryana, Shri SP Singh Badal, Hon’ble Chief Minister of
Punjab and official representative of Prof. Prem Kumar Dhumal, Hon’ble Chief Minister
of Himachal Pradesh.
15.
JAYPEE AGRA VIKAS LIMITED (JAVL)
JAVL was
incorporated as a Special Purpose Vehicle for implementing Project for
Development of Inner Ring Road at Agra and other infrastructure facilities, under
Integrated Urban Rejuvenation Plan on design, build, finance, operate and
transfer basis.
During the year
under report, there has not been any significant progress on the project due to
non fullfilment of the ‘Conditions Precedent to the Agreement’ viz. handing
over of 90% of ROW land to the Company by December 31, 2011, by Agra
Development Authority.
SPORTS AND RELATED
BUSINESS
16.
JAYPEE SPORTS INTERNATIONAL LIMITED (JSIL)
JSIL was
incorporated on 20th October, 2007. The Company was allotted around 1100 Ha of
land for development of Special Development Zone (SDZ) with sports as core
activity by Yamuna Expressway Industrial Development Authority (YEA). This area
is inclusive of 100 Ha of land to be used for Abadi Development. The core
activities are Motor Race Track, suitable for holding Formula One race and
setting up a Cricket Stadium of International standard to accommodate above
1,00,000 spectators.
The Motor Race
Track known as Buddha International Circuit (BIC) was completed well in time
and the Company successfully hosted the First Indian Grand Prix from 28th to
30th October, 2011. The success of the event was acknowledged by winning of
many awards and accolades: Best Promoter of the Year – FIA award, Man of the
year – BBC Top Gear and Man’s World, Motor Sport Award of the Year – CNBC TV
Award, Motorsport Award of the Year – Economic Times Zigwheels Award, Best
Motorsport Facility – Autotrack Motorsports Award etc. BIC has successfully
conducted various events national and international during November, 2011 to
April, 2012. BIC is focusing on generation of revenue by placing BIC as one
stop destination for Exhibition, concerts, product launches and other
promotional activities besides having its regular Indian Grand Prix, next F1
race having been scheduled for October, 2012.
The Company has
also made significant progress in development of non core area planned for
group housing, plots, multi storey flats, commercial area, institutional, road,
open space and other social activities.
FERTILIZER AND
RELATED BUSINESS
17. JAYPEE
FERTILIZERS and INDUSTRIES LIMITED (JFIL)
JFIL was
incorporated as a wholly owned subsidiary of Jaiprakash Associates Limited to
undertake the business of fertilizers and chemicals. The Company is
participating as a strategic investor in the Rehabilitation Scheme (Scheme) of
Fertilizer Undertaking of Duncans Industries Limited. (DIL) which has been
approved by the Board of Industrial and Financial Reconstruction (BIFR) vide
its Order dated 16th January, 2012.
Pursuant to the Scheme,
the said fertilizer undertaking stands vested in Kanpur Fertilizers and Cement
Limited. in which The Company is making investments through Jaypee Uttar Bharat
Vikas private Limited (JUBVPL). JUBVPL is a joint venture company (with equal
equity participation) of The Company and ISG Traders Limited., an investment
arm of DIL.
OUTLOOK
Keeping in view
the performance and future prospects of the Company’s business, the expansions and
diversifications being undertaken and the business of its subsidiaries, The
Company is poised for sustained growth and the outlook is bright.
Energy
Conservation Measures
At Rewa Plant
i. Cement Mill-1
and 3 water pump for separator circuit water pump replaced with high efficiency
pump.
ii. 551 FNA dust
collector discharge Rotary Air Lock fixed in place of double flap valve in
Cement Mill-1.
At Bela Plant
i. Installation of
APFC Unit for Improvement of Power Factor.
ii. Installation
of Soft starter in identified motors for power saving.
iii. Installation
of GRR in Coal Mill main drive to reduce Power Consumption.
At Sidhi Plant
i. Cement mill
transportation group interlocking is changed for 20 Min instead of 30 Min
results in power saving.
ii. Interlocking
of bag filters of clinker feeding grouped with DBC results in power saving.
iii. Compressor
loading / unloading has been optimized from 8 kg/cm2 to 7 kg/cm2 without
affecting plant operation.
At Dalla Plant
i. Modification at
VRM inlet gas path to increase gas flow for improvement in productivity and
power saving by 2 KWH/MT.
ii. RM dip tube
reduce by 200 mm for each cyclones, to reduce pressure drop by 40 mmwg for
power saving of 70 KW.
iii. RM central
discharge blower of 30 KW replaced by 9.3 KW blower to save power.
At Sikandrabad
Plant
i. On the basis of
air consumption study, air has been given to plant and bag house by one
compressor instead of two results in power consumption.
ii. Packer discharge
chute was extended upto loader belt and one belt conveyor has been stopped.
At Baga Plant
Variable Frequency
Drives installed for Swirl air fan for better control and reduce of energy
consumption.
At Bagheri Plant
Additional
Capacitor Banks installed which improve Power factor from 0.93 average to 0.99
average.
At Roorkee Plant
i Unloading of Dry
Fly Ash directly at fly ash bin from Bulkers instead of unloading first at silo
and then transporting it from Silo to bin results in Power Saving.
ii Modified the
Conveyor to feed the open yard clinker directly at cement mill hopper instead
of clinker silo.
At Panipat Plant
i Installation of
Clinker feeding elevator Current Display Unit at dump hopper to control feeding
of clinker.
ii Capacitors were
connected at motor termination to reduce Power Consumption.
B. Research and
Development
Research and
Development work in respect of new engineering techniques for achieving higher
efficiencies is a continuous process in the Company.
C. Technology absorption,
adaptation and innovation
For efficient
execution of contracts awarded to the company, it imports various items of
equipments in order to
ensure use of
contemporary technology. The company has, inter-alia, taken the following steps
towards technology absorption, adoption and innovation:
At Rewa Plant
Technology already
absorbed
i Mill-3 KCP bag
filter discharge chute connected to product air slide modified.
ii Service Air
Compressor -2 nos , high efficiency inter cooler installed in Unit-II to reduce
motor current.
At Bela Plant
Technology already
absorbed
i Cooler water
spray system has been upgraded for better cooling of clinker and improved ESP
efficiency.
ii Installation of
600 KVAR LT Capacitor with controller for improvement in Power Factor.
iii Upgradation of
bag filter for fly ash silo to meet the requirement of Pollution Control Board.
iv Modification of
bulk loading system with weighing arrangement.
v Upgradation of
bag filter for Packer No.2 and 3 for enhanced life of bags and performance of
bag filter.
Technology under
absorption
i Upgradation of
XRF X-ray machine in lab.
ii Upgradation of
PA system for better and efficient system between field and CCR.
iii Upgradation of
cooler ESP to meet the requirement of Pollution Control Board.
At Sidhi Plant
Technology already
absorbed
i During plant
shut down K.S fan or C.S fan was running continuously with RABH fan to provide
suction inside the kiln. Now RABH fan is stopped by opening fresh air dampers
which results in power saving during shut down.
ii Dedusting bag
filter for Kiln feed elevator (stand by) was running continuously. Now it is
stopped by slight modification in dedusting line results in power saving.
iii CF silo
elevator was running continuously even after the Raw Mill stops. Interlocking
of this elevator is done with the surge bin level results in power saving.
Technology under
absorption
i Modification in
the height of Raw Mill reject elevator can improve the Raw Mill output and
reduce the power
consumption.
ii Total eight
rotary airlocks are installed below cooler ESP hopper. Four of them can be
removed by modifying the current position of rotary airlocks by which power can
be reduced upto 50%.
iii Installation
of V/F system for Cement Mill Bag house to reduce the power consumption.
At Dalla Plant
Technology already
absorbed
i Plant Lighting :
To Optimise lighting circuit voltage by installing lighting energy savers.
ii PC firing bag
filter discharge flap valve replaced by Rotary feeder.
iii V-Seperator
inlet duct modified to increase gas velocity and to avoid material accumulation
for efficient operation of V-Separator.
iv Installation of
Hi-Chrome liners along with flow control diaphragm for increasing output of
Cement Mill and reduce Power Consumption.
Technology under
absorption
i Installation of
coal wagon trippler, circular stacker and reclaimer for better blending of
coal.
ii Reduction in
length of drying chamber by shifting diaphragm to increase output of Raw Mill
from 120 TPH to 125 TPH.
iii Installation
of clinker and gypsum weigh feeder for Cement
Mill -1 to
increase output of the mill.
iv Installation of
conveyor belt in place of pneumatic conveying for Raw Meal transfer from K-4 Roller
Press to K-5 silo feed Bucket Elevator for Power Saving.
At Chunar Plant
Technology already
absorbed
i Increase Mill
output from 42 TPH to 72 TPH and reduction in Power Consumption from 42KWH/MT
to 36 KWH/MT of cement grinding.
ii Classifier Fan :
Installation of VFD drive for classifier fan in cement mill for power saving.
iii Upgradation of
Cement Transport Belt Conveyor to increase the feeding capacity from 400 TPH to
800 TPH.
Technology under
absorption
i Upgradation of
existing old TRF wagon trippler.
ii Cold Fog System
- Installation of Cold Fog System at transfern point to control the dust
emission.
iii Installation
of MV drives in Cement Mills main bagfilter fans for energy conservation.
At Sikandrabad
Plant
Technology already
absorbed
i Clinker Weigh
Feeder Chute has been modified to segregate clinker lumps automatically and
weigh feeder calbration can also be done as required.
ii Hot Air Duct
from Mill Bag Filter to Mill inlet has been installed which has increased the
air temperature in the
range of 10 - 12
degree to optimize the Roll Press operation.
Technology under
absorption
i Installation of
Variable Frequency Drive in Compressor will reduce the power consumption during
the unloading time of compressor.
ii Installation of
capacitor Bank in HT bus of Load Center will result in achieving target power
factor and consequently increase in Tariff Rebate.
At Baga Plant
Technology already
absorbed
i Modification to
Cooler fan has been done to increase the thermal efficiency and better cooling
of Clinker.
ii Hot Air Duct
installed from Cooler to Cement Mill for drying the Wet fly ash in VRM.
iii Additional Air
Blaster in Kiln inlet for smooth operation of Kiln with Pet Coke.
Technology under
absorption
i Jet Air Blower (
Stand By ) to be operated through VVFD to regulate speed / reduce energy
consumption.
ii One belt bucket
elevator to be installed near Coal Mill to feed directly coal from ground to
Mill hopper (Use in case of problem in Coal feeder system.)
At Bagheri Plant
Technology already
absorbed
Voltage Variable
Frequency Drive at Cement Mill vent Fan installed for power consumption saving.
Technology under
absorption
Variable Voltage
Variable Frequency Drives for Fly Ash Classifier Bag House Vent to operate with
Continuous Speed Control.
At Roorkee Plant
Technology already
absorbed
i Modification was
done in Clinker Belt feeder below clinker dump hopper to avoid material
spillage for better house keeping and operational efficiency.
ii Packer tengential
conveyor were modified for better operational efficiency.
Technology under
absorption
i Variable
Frequency Drive panels to be installed in Cement Mill to regulate the speed
results in Power Consumption.
ii All pendulam
flap is to be replaced by Rotary Air Lock for better efficiency of bag filters.
At Panipat Plant
Technology already
absorbed
Standby air slide
blower was installed in cement silo to support existing air slide blowers in
case of break down.
Technology under
absorption
Installation of
Variable Frequency Drives in Cement Mill vent Fan motor.
MANAGEMENT
DISCUSSION and
ANALYSIS REPORT
Forming part of
the Report of Directors for the year ended March 31, 2012.
ECONOMIC OVERVIEW
As per ‘Monetary
Policy Statement 2012-13’ issued by Reserve Bank of India (RBI) on April
17, 2012, the said Policy was set for financial year 2012-13 in a
challenging macro-economic environment. As per RBI, at the global level,
concerns about a crisis have abated, the US economy continues to show
signs of modest recovery and large scale liquidity infusions by the European
Central Bank (ECB) have significantly reduced stress in the global
financial markets. Domestically, the state of the economy is a matter of
growing concern. Though inflation has moderated in recent months, it
remains sticky and above the tolerance level, even as growth has slowed.
Significantly, these trends are occurring in a situation in which
concerns over the fiscal deficit, the current account deficit and
deteriorating asset quality loom large. In this context, the challenge
for monetary policy is to maintain its vigil on controlling inflation
while being sensitive to risks to growth and other vulnerabilities.
Growth in the
Index of Industrial Production (IIP) decelerated to 3.5% during 2011-12
(April-February) from 8.1% in the corresponding period of the previous year.
The advance estimate of the GDP growth of 6.9% for 2011-12 by the Central
Statistics Office (CSO) is close to the Reserve Bank’s baseline
projection of 7.0%. Going forward into 2012-13, assuming a normal monsoon,
agricultural growth could stay close to the trend level. Industry is expected
to perform better than in last year as leading indicators of industry suggest a
turnaround in IIP growth. The global outlook also looks slightly better than
expected earlier. Overall, the domestic growth outlook for 2012-13 looks a
little better than in 2011-12. Accordingly, the baseline GDP growth for 2012-13
is projected at7.3%.
Recently, the
Credit rating agency ‘Standard and Poor’ has revised India’s outlook to
negative. The agency has reaffirmed sovereign credit rating at investment grade
but suggested that the probability of a downgrade is now higher than before.
The agency sees little progress on economic reforms in India and believes that
the GDP growth could fall to 5.3% in 2012-13. The Indian government expects GDP
growth of over 7%.
In the recent
past, the corporates of India have seen that money has become quite dearer. The
rupee has been under pressure despite Reserve Bank of India’s intervention
earlier in the year. Given the government’s high fiscal deficit, and a
liquidity crunch in the system, it will be harder for the RBI to intervene to
break its fall. However, India’s favourable long-term growth prospects and high
level of foreign exchange reserves support the strong fundamentals of the
economy. High fiscal deficits, high inflation and a heavy debt burden remain
the most significant constraints on the economy. Government’s ability to
implement measures to improve economic growth and fiscal prudence will also be
vital to boosting confidence in the economy.
The World Economic
Outlook of International Monetary Fund (IMF) projected that China would
grow 8.2% in 2012 and 8.8% in 2013, while India would expand 6.9% in
2012 and 7.3% in 2013. Asia’s emerging economies suffered spillover
effects in 2011-12 from the Euro Zone Crisis, which hit exports to
Europe and also pinched trade credit and project finance as European banks
were also under pressure. An escalation of the Euro Zone Crisis could
lower emerging Asia’s output by 1.25%, said the IMF, which also warned
of the risks of an oil price spike due to tensions in the Middle East.
According to the Planning
Commission, Government of India, as per its report “An Approach to the
Twelfth Five Year Plan 2012-17”, published in October 2011, the
Eleventh Five Year Plan (2007-08 to 2011-12) had aimed at achieving rapid GDP
growth, targeted at 9.0% per annum. The economy has performed well on the
growth front, averaging 8.2 per cent in the first four years. The economy saw
8.5% growth in 2010-11 and was likely to be around 8.0% in 2011-12 (as
estimated in October 2011). Thus, the economy is likely to achieve an average
GDP growth of around 8.2% over the Eleventh Plan period, which is lower than
the 9.0% targeted originally, but higher than the 7.8% achieved in the Tenth
Plan. According to this Report, the structure of Global GDP vs India’s GDP is
as under:
|
STRUCTURE OF GLOBAL GDP (IN CURRENT US $
TRILLION) |
|||||
|
YEAR |
2000 |
2011 |
2016 |
2020 |
2025 |
|
World GDP |
32.2 |
68.7 |
90.5 |
110.5 |
140.5 |
|
of which India |
05 |
1.9 |
3.6 |
5.8 |
10.0 |
|
(1.5%) |
(2.8%) |
(4.0%) |
(5.2%) |
(7.1%) |
|
The important point
emerging from these projections is that India has the potential to become the
third largest GDP in the world in two decades. However, to realize this
potential There must ensure sustained rapid growth. China has grown around
10.0% per year in real terms for 30 years and is now expected to slow down.
India is currently behind China, but the evidence suggests that India has now
developed the potential for sustained rapid
growth over the
next two decades, provided appropriate supportive policies are put in place.
According to the
said Report, having achieved 8.2% growth during the Eleventh Plan (as estimated
in October 2011), it is reasonable to aim at 9.0% growth for the Twelfth Plan.
The Global economic conditions are very uncertain. To achieve rapid growth, the
economy will have to overcome constrains posed by limited energy supplies,
shortages in infrastructure, problems of land acquisition for industrial
development and infrastructure.
AUDITED FINANCIAL RESULTS STANDALONE FOR THE QUARTER AND YEAR ENDED 31
ST MARCH, 2013
(Rs.
in Millions)
|
|
Particulars |
31.03.2013 |
31.12.2012 [Unaudited] |
31.03.2013 |
|
1. |
Income from
Operations |
|
|
|
|
|
[a] Net Sales/Income from Operations [Net of Excise Duty] |
38641.900 |
33983.900 |
132086.900 |
|
|
[b] Other Operating Income |
431.900 |
324.800 |
1496.800 |
|
|
Total Income from Operations [Net] |
39073.800 |
34308.700 |
133583.700 |
|
2 |
Expenses |
|
|
|
|
|
[a] Cost of Materials Consumed |
9353.300 |
8575.000 |
32786.000 |
|
|
[b] Changes in Inventories of Finished Goods and Work-in-Progress |
(426.100) |
(1468.500) |
(2157.300) |
|
|
[c] Direct Construction, Manufacturing, Real Estate, Infrastructure, Hotel/Hospitality/Event and Power Expenses |
13559.100 |
12218.300 |
42004.200 |
|
|
[d] Employee Benefits Expense |
2196.000 |
2042.900 |
8079.500 |
|
|
[e] Depreciation and Amortisation Expense |
1907.500 |
1812.900 |
7261.300 |
|
|
[f] Other Expenses |
5452.900 |
4990.800 |
19619.100 |
|
|
|
32042.700 |
28171.400 |
107592.800 |
|
3. |
Profit from Operations before Other Income, Finance Costs and Exceptional Items |
7031.100 |
6137.300 |
25990.900 |
|
4. |
Other Income |
246.900 |
851.500 |
1537.100 |
|
5. |
[a] Profit from Ordinary activities before Finance Costs and Exceptional Items |
7278.000 |
6988.800 |
27528.000 |
|
|
[b] EBIDTA [5(a) + 2(e)] |
9185.500 |
8801.700 |
34789.300 |
|
6. |
Finance Costs |
5490.300 |
5327.000 |
20113.500 |
|
7. |
Profit from Ordinary activities after Finance Costs but before Exceptional Items |
1787.700 |
1661.800 |
7414.500 |
|
8. |
Exceptional Items |
- |
- |
- |
|
9. |
Prior Period Adjustments |
42.800 |
8.100 |
93.000 |
|
10 |
Profit from Ordinary Activities before Tax |
1830.500 |
1669.900 |
7507.500 |
|
11 |
Tax Expense |
|
|
|
|
|
[a] Current Tax |
372.100 |
218.400 |
1391.700 |
|
|
[b] Excess Provision for Income Tax in Earlier Years Reversed |
(186.500) |
|
(186.500) |
|
|
[c] Deferred Tax |
409.900 |
342.200 |
1289.500 |
|
|
|
595.500 |
560.600 |
2494.700 |
|
12 |
Net Profit for the Period |
1235.000 |
1109.300 |
5012.800 |
|
13 |
Share of Profit/(Loss) of Associates |
|
|
|
|
14 |
Minority Interest |
|
|
|
|
15 |
Net Profit after Taxes, Minority Interest and Share of Profit/(Loss) of Associates |
1235.000 |
1109.300 |
5012.800 |
|
16 |
Paid-up Equity Share Capital [Face Value of t 21- per share] |
4438.200 |
4309.800 |
4438.200 |
|
17 |
Reserves excluding Revaluation Reserves as per Balance Sheet of Previous Accounting Year |
|
|
126899.600 |
|
18 |
Earnings Per Share [EPS] [Face Value of Rs. 21- per share] |
|
|
|
|
|
Basic |
Rs. 0.57 |
Rs. 0.52 |
Rs. 2.34 |
|
|
Diluted |
Rs. 0.57 |
Rs. 0.49 |
Rs. 2.29 |
|
A |
Particulars |
31.03.2013 |
31.12.2012 |
31.03.2013 |
|
|
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
Number of Shares [of ? 21- per share] |
1226196013 |
1161947203 |
1226196013 |
|
|
Percentage of Shareholding |
55.26% |
53.92% |
55.26% |
|
2 |
Promoters and Promoter Group Shareholding: |
|
|
|
|
|
[a] Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
4332500 |
4332500 |
4332500 |
|
|
- Percentage of Shares [as a % of the total shareholding of Promoter and Promoter Group] |
0.44% |
0.44% |
0.44% |
|
|
- Percentage of Shares [as a % of the total share capital of the Company] |
0.20% |
0.20% |
0.20% |
|
|
lb] Non-encumbered |
|
|
|
|
|
- Number of Shares |
988555046 |
988599046 |
988555046 |
|
|
- Percentage of Shares [as a % of the total shareholding of Promoter and Promoter Group] |
99.56% |
99.56% |
99.56% |
|
|
- Percentage of Shares [as a % of the total share capital of the Company] |
44.54% |
45.88% |
44.54% |
|
|
Particulars |
31.03.2013 |
|
B |
INVESTOR COMPLAINTS |
|
|
|
Pending at the beginning of the Quarter |
- |
|
|
Received during the Quarter |
181 |
|
|
Disposed of during the Quarter |
181 |
|
|
Remaining unresolved at the end of the Quarter |
- |
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND
YEAR ENDED 31 ST MARCH, 2013
(Rs.
in Millions)
|
|
Particulars |
31.03.2013 |
31.12.2012 |
31.03.2013 |
|
1. |
Segment Revenue |
|
|
|
|
|
[a] Cement and Cement Products |
16363.400 |
14747.300 |
60459.200 |
|
|
[b] Construction |
15327.000 |
12757.100 |
53143.100 |
|
|
[c] Power |
51.200 |
38.100 |
381.900 |
|
|
[d] Hotel/Hospitality, Golf Course and Event |
685.100 |
693.000 |
2314.100 |
|
|
[e] Real Estate |
6407.800 |
6123.600 |
16860.000 |
|
|
[fl Infrastructure |
- |
- |
- |
|
|
[g] Investments |
156.700 |
777.100 |
1207.500 |
|
|
[h] Others |
495.200 |
355.400 |
1550.700 |
|
|
[i] Unallocated |
147.000 |
94.100 |
599.800 |
|
|
Total |
39633.400 |
35585.700 |
136516.300 |
|
|
Less: Inter-segment Revenue |
312.700 |
425.500 |
1395.500 |
|
|
Total Sales/Income |
39320.700 |
35160.200 |
135120.800 |
|
2. |
Segment Results |
|
|
|
|
|
[a] Cement and Cement Products |
2238.600 |
1178.700 |
7020.700 |
|
|
[b] Construction |
2930.300 |
2895.700 |
13821.200 |
|
|
[c] Power |
(1.200) |
(13.100) |
175.200 |
|
|
[d] Hotel/Hospitality, Golf Course and Event |
127.300 |
138.600 |
209.300 |
|
|
[e] Real Estate |
2026.000 |
2209.800 |
5853.300 |
|
|
[f] Infrastructure |
- |
- |
- |
|
|
[g] Investments |
153.200 |
768.100 |
1195.000 |
|
|
[h] Others |
(7.900) |
(3.900) |
(37.800) |
|
|
|
7466.300 |
7173.900 |
28236.900 |
|
|
Less: |
|
|
|
|
|
[a] Finance Costs |
5490.300 |
5327.000 |
20113.500 |
|
|
[b] Other Un-allocable Expenditure net off Un-allocable Income |
145.500 |
177.000 |
615.900 |
|
|
|
5635.800 |
5504.000 |
20729.400 |
|
|
Profit before Tax |
1830.500 |
1669.900 |
7507.500 |
|
3. |
Capital Employed |
|
|
|
|
|
[a] Cement and Cement Products [including Capital Work-in-Progress] |
135468.200 |
129226.200 |
135468.200 |
|
|
[b] Construction [including Capital Work-in-Progress] |
47418.800 |
42103.700 |
47418.800 |
|
|
[c] Power [including Capital Work-in-Progress] |
24693.500 |
23022.800 |
24693.500 |
|
|
[d] Hotel/Hospitality, Golf Course and Event [including Capital Work-in-Progress] |
6325.400 |
6329.000 |
6325.400 |
|
|
[e] Real Estate [including Capital Work-in-Progress |
36103.800 |
35887.800 |
36103.800 |
|
|
[f] Infrastructure [including Capital Work-in-Progress] |
|
|
|
|
|
[g] Investments |
88912.700 |
79810.800 |
88912.700 |
|
|
[h] Others [including Capital Work-in-Progress] |
3425.900 |
2637.700 |
3425.900 |
|
|
[i] Un-allocated |
47656.700 |
53077.400 |
47656.700 |
|
|
Total |
390005.000 |
372095.400 |
390005.000 |
STATEMENT OF ASSETS AND LIABILITIES
(Rs.
in Millions)
|
|
Particulars |
31.03.2013 |
|
A |
EQUITY AND
LIABILITIES |
|
|
|
1 SHAREHOLDERS FUNDS |
|
|
|
(a) Share Capital |
44382 |
|
|
(b) Reserves and Surplus |
1288851 |
|
|
Sub-total - Shareholders'
funds |
1333233 |
|
|
2 MINORITY INTEREST |
- |
|
|
3 DEFERRED REVENUE |
- |
|
|
4 NON-CURRENT LIABILITIES |
|
|
|
(a) Long Term Borrowings |
1859091 |
|
|
(b) Deferred Tax Liabilities [Net] |
137268 |
|
|
(c) Other Long Term Liabilities |
170439 |
|
|
(d) Long Term Provisions |
18029 |
|
|
Sub-total - Non-current Liabilities |
2184827 |
|
|
5 CURRENT LIABILITIES |
|
|
|
(a) Short Term Borrowings |
162580 |
|
|
(b) Trade Payables |
262365 |
|
|
(c) Other Current Liabilities |
639096 |
|
|
(d) Short Term Provisions |
17233 |
|
|
Sub-total - Current
Liabilities |
1081274 |
|
|
TOTAL - EQUITY AND
LIABILITIES |
4599334 |
|
B |
ASSETS |
|
|
|
1 NON-CURRENT ASSETS |
|
|
|
(a) Fixed Assets |
1895853 |
|
|
(b) Non Current Investments |
859806 |
|
|
(c) Long Term Loans and Advances |
180984 |
|
|
(d) Other Non Current Assets |
183178 |
|
|
Sub-total -
Non-current Assets |
3119821 |
|
|
2 CURRENT ASSETS |
|
|
|
(a) Current Investments |
29321 |
|
|
(b) Inventories |
196948 |
|
|
(c) Projects Under Development |
100824 |
|
|
(d) Trade Receivables |
243508 |
|
|
(e) Cash and Cash Equivalents |
130266 |
|
|
(f) Short Term Loans and Advances |
348966 |
|
|
(g) Other Current Assets |
429680 |
|
|
Sub-total - Current
Assets |
1479513 |
|
|
TOTAL-ASSETS |
4599334 |
FIXED ASSETS
·
Land
·
Building
·
Purely Temporary Erections
·
Railway siding
·
Plant and Machinery
·
Captive Thermal Power Plant
·
Wind Turbine generators
·
Golf Course
·
Miscellaneous Fixed Assets
·
Motor Vehicles
·
Furniture and Office Equipment
·
Ships: Boat
·
Aeroplane / helicopter
·
Technical Books
AS PER WEBSITE
DETAILS:
PRESS RELEASES:
ADITYA BIRLA TO BUY
STAKE IN JAIPRAKASH CEMENT BIZ
June 26, 2012
Aditya Birla Group has evinced interest in acquiring Jaypee Cement Corporation’s five million tonne per annum (mtpa) Gujarat facility and a deal is likely to happen in 10-15 days.
A source in the know of the development said that while Aditya Birla Group is keen on buying Jaypee Cement’s Gujarat plant, the latter wants the Mumbai-based conglomerate take up to 49 percent stake in the entire firm, which also has a 4.8 mtpa cement making facility in Andhra Pradesh.
“Talks are on at advanced stages and the deal is likely to happen in the next 10-15 days. However, it has to be seen whether the deal is confined only to the Gujarat facility or spreads to Andhra Pradesh as well,” the source said. The Jaypee Group, having interests in areas such as real estate, cement and hospitality, is the country’s third largest cement maker with an installed capacity of 33.5 mtpa.
Jaiprakash Associates, the flagship company of the Group, holds the majority of the cement business. However, operations in Gujarat and Andhra Pradesh, having a total capacity of 9.8 mtpa, are under the aegis of Jaypee Cement, which was recently hived off for monetising the asset.
Besides Aditya Birla Group, the country’s largest cement maker with 52 mtpa capacity, French major Lafarge has also evinced interests to forge a deal with Jaypee Cement. But Jaypee Cement is believed to be inclined towards the Birla group for a couple of reasons, market sources said, including the fact that the two have already transacted once in the acquisition of Bina Power Supply (BPSL).
In 2008, a group company of Jaiprakash Associates had acquired BPCL from the Aditya Birla Group. “As the two know each other and have transacted once, it is easier for Jaypee to ink a deal with the Aditya Birla Group than with a foreign company,” the source said, adding the two are now engaged in direct talks and have not involved any merchant banker for transaction.
A senior Jaypee Cement Corporation had recently said that the company plans to raise some funds by diluting a minority stake and was mulling a couple of options, which include roping in a private equity firm as well. The proceeds would be used to meet capacity expansion and retire debt, among others. Jaypee Group is working on increasing its cement capacity to 36 mtpa by the end of the current fiscal and is evaluating various locations to take it to 50 mtpa capacity over the next five years.
JAYPEE GROUP TO INVEST RS 330000.000 MILLIONS IN GUJARAT
New Delhi, January 15:
Jaiprakash Associates Limited (JAL) has committed to invest Rs 330000.000 Millions more in Gujarat over the next 3 to 5 years.
The company signed 6 MoUs at the just concluded Vibrant Gujarat investors meet. The plans include setting up of an Alumina plant(Rs 140000.000 Millions), 1 thermal power plant and grinding unit(Rs 60000.000 Millions), development and mining of a coal block (Rs 80000.000 Millions), development of 2 jetties(Rs 10000.000 Millions), and expansion of cement production (Rs 40000.000 Millions.
All these projects are slated for Gujarat’s Kutch region where the company has already invested over Rs 60000.000 Millions in a Greenfield cement plant and creating health and educational facilities for the local people. The plant is of 2.4million tones per annum capacity, which will be enhanced to 4.8 MTPA in a few months time.
Expressing his pleasure over the signing of the MoUs, Jaypee Group’s Executive Chairman, Mr. Manoj Gaur, said “These MoUs represent our continuing commitment to the development of Gujarat and creating thousands of new employment opportunities for the people.”
Besides setting up manufacturing units, Jaypee group has also invested in developing infrastructure in the project areas. It has developed a 16‐bed hospital and runs mobile medical units to provide free health facilities to local people. Similarly, the company has also set up schools and it is in the region to provide educational and vocational services to the villagers.
The Group has almost four decades old association with Gujarat and has been associated with several prestigious infrastructural projects such as 1450 MW Sardar Sarovar Dam. In January, 2001 when earthquake had done massive destruction in Gujarat, Jaypee Group adopted a village of Kakarwa and undertook large‐scale rehabilitation work.
About Jaiprakash
Associates Limited
Jaiprakash Associates Millions is a diversified infrastructure conglomerate and has a formidable presence in Engineering and Construction, cement, power, hospitality, real estate, and expressways.
FORAYING INTO EDIBLE
OIL BUSINESS: MANOJ GAUR, JAYPEE GROUP
Anuradha Himatsingka, ET Bureau Mar 31, 2011, 03.08am IST
The Rs 150000.000 Millions diversified infrastructure conglomerate with interests in engineering and construction, power, cement, real estate and hospitality, the Jaypee Group is setting up a soya and mustard processing plant at Rewa, Madhya Pradesh. To begin with, the group will process 1 lakh tonne each of soya and mustard a year and also produce oil cakes, Jaypee Group executive chairman Manoj Gaur told ET.
What prompted the
group to foray into the edible oil business? What is the synergy between the
edible oil business and the group's existing businesses?
The diversification into agri business was primarily due to our commitment to the welfare of farmers in Rewa and adjoining areas. Through Jaiprakash Sewa Sansthan, they have been running various health care, education, women empowerment and rural development schemes in states where they have our cement and power plants such as Madhya Pradesh, Himachal Pradesh, Gujarat, and Uttar Pradesh. The agri business will help the farmers of Rewa and its surrounding areas as they will not have to travel long distances in search of a better price for their produce because they will get a willing buyer like Jaypee at their doorsteps.
Under which brand do
you plan to market edible oil? Are you planning to rope in celebrities to
promote it?
They are exploring many options. All I can say now is that our brand will truly convey the purity and quality of our products. Effective communication is important in today's overcrowded market. They will do whatever is required to effectively communicate with our valued consumers and stakeholders.
Has the group floated
a separate company for the new initiative? Do you plan to take up plantation of
edible and non-edible oilseeds also?
A separate company, Jaiprakash Agri Initiatives Company, has been floated. They plan to procure oil seeds from villages located within a radius of 100 km of Jaypee Nagar in Rewa. Going forward, they are evaluating various supply options to ensure a smooth supply of quality raw materials. They will take a call on the issue depending upon the oil seed plantation policies of various state governments.
Will the group look
at both organic and inorganic route for growth in the edible oil business?
Over the last few months, they have received several proposals from market and merchant bankers to take over various assets. But our agri initiatives have been taken up with a mission, and any asset or project will be evaluated keeping those guiding principles in mind.
A late entrant in the
edible oil space, how do you intend to compete with your rivals? Do you plan to
export edible oil?
They feel the edible oil market in India is large enough to accommodate one more player. India is currently importing almost 50% of its total consumption of edible oils. They are open to the idea of exporting our products.
What is the future of
the edible oil business in India five years down the line, especially in an era
when consumers are becoming health conscious?
According to Government of India estimates, they are facing a serious deficit in edible oil production. With both population and income levels of consumers on the rise, the edible oil sector has a very bright future. Nutritionists too feel that edible oils are essential for good health. Consumers need to be educated about how to choose a good edible oil. According to nutrition science, domestically produced oils like mustard, soybean and sunflower are nutritionally better than imported palm oil.
CMT REPORT (Corruption, Money Laundering and 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.56.64 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.