MIRA
INFORM REPORT
|
Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAIPRAKASH POWER VENTURES LIMITED |
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Registered
Office : |
JUIT Complex, Waknaghat, P.O. Dumehar Bani, Kandaghat-173215, District Solan, Himachal Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.12.1994 |
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Com. Reg. No.: |
06-015483 |
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Capital
Investment / Paid-up Capital : |
Rs.26247.600 Millions |
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CIN No.: [Company Identification
No.] |
L40101HP1994PLC015483 |
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Legal Form : |
A Public Limited Liability Company. The company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Subject is engaged in the business of generation of Power. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
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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 210000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Jaypee Group. It is a well established company
having a satisfactory track record. There appears a good profitability position but the reserves are low. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of reputed and experienced promoters. The company can be
considered 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB+ (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
15.04.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
JUIT Complex, Waknaghat, P.O. Dumehar Bani,
Kandaghat-173215, District Solan, Himachal Pradesh, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
Sector - 128, Noida - 201304, District Gautam Budh Nagar, Uttar Pradesh, India |
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Tel. No.: |
91-120-4609000 |
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Fax No.: |
91-120-4609496 |
DIRECTORS
As on: 31.03.2012
|
Name : |
Mr. Manoj Gaur |
|
Designation : |
Chairman |
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Name : |
Mr. Sunil Kumar Sharma |
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Designation : |
Vice-Chairman and Chief Executive Officer |
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Name : |
Mr. Suren Jain |
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Designation : |
Managing Director and CFO |
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Name : |
Mr. B.K.Taparia |
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Designation : |
Director |
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Name : |
Mr. R.N. Bhardwaj |
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Designation : |
Director |
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Name : |
Mr. B.B. Tandon |
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Designation : |
Director |
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Name : |
Mr. A. K. Goswami |
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Designation : |
Director |
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Name : |
Mr. S.C. Bhargava |
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Designation : |
Director |
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Name : |
Dr. R.C. Vaish |
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Designation : |
Director |
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Name : |
Subroto Gupta (IDBI Nominee) |
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Designation : |
Director |
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Name : |
Mr. S.S. Gupta |
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Designation : |
Director |
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Name : |
Dr. J.N. Gupta |
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Designation : |
Director |
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Name : |
Mr. G.P. Gaur |
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Designation : |
Director |
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Name : |
Dr. R.L. Gupta |
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Designation : |
Director |
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Name : |
Mr. D.P. Goyal, Whole-time Director |
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Designation : |
Director |
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Name : |
Lt.Gen.(Retd.) Ravindra Mohan Chadha |
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Designation : |
Whole-time Director |
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Name : |
Mr. R.K. Narang |
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Designation : |
Whole-time Director |
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Name : |
Mr. Suresh Chandra |
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Designation : |
Whole-time Director |
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Name : |
Mr. Praveen Kumar Singh |
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Designation : |
Whole-time Director |
KEY EXECUTIVES
|
Name : |
Mr. M.M. Sibbal |
|
Designation : |
Senior General Manager and Company Secretary |
SHAREHOLDING PATTERN
As on: 31.03.2013
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
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|
1908648237 |
64.96 |
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|
1908648237 |
64.96 |
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Total shareholding of Promoter and Promoter Group (A) |
1908648237 |
64.96 |
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(B) Public Shareholding |
|
|
|
|
|
|
|
|
153310335 |
5.22 |
|
|
48245649 |
1.64 |
|
|
31496088 |
1.07 |
|
|
254230763 |
8.65 |
|
|
487282835 |
16.59 |
|
|
|
|
|
|
66156648 |
2.25 |
|
|
|
|
|
|
102411722 |
3.49 |
|
|
20150112 |
0.69 |
|
|
353353530 |
12.03 |
|
|
1828205 |
0.06 |
|
|
351525325 |
11.96 |
|
|
542072012 |
18.45 |
|
Total Public shareholding (B) |
1029354847 |
35.04 |
|
Total (A)+(B) |
2938003084 |
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) |
2938003084 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of generation of Power. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Indian · Allahabad Bank · Andhra Bank · Axis Bank Limited · Bank of Baroda · Bank of India · Bank of Maharashtra · Canara Bank · Central Bank of India · Corporation Bank · Dena Bank · ICICI Bank Limited · IDBI Bank Limited · Indian Bank · Indian Overseas Bank · Oriental Bank of Commerce · Punjab National Bank · Small Industries Development Bank of India · State Bank of Bikaner and Jaipur · State Bank of Hyderabad · State Bank of India · State Bank of Patiala · State Bank of Travancore · Syndicate Bank · The Jammu and Kashmir Bank Limited · UCO Bank · Union Bank of India · United Bank of India Foreign · Unicredit Bank AG, Munich ·
Standard Chartered Bank, Singapore |
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Facilities : |
(Rs.
In Millions)
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Banking Relations
: |
-- |
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Financial Institutions: |
Indian · Infrastructure Development Finance Company Limited · IFCI Limited · Life Insurance Corporation of India · Power Finance Corporation Limited Foreign · Credit Agricole CIB, France · Siemens Financial Services GmbH, Germany |
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Auditors : |
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Name : |
R. Nagpal Associates Chartered Accountants |
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Address : |
New Delhi, India |
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Internal Auditors: |
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Name : |
Rajendra K Goel and Company Chartered Accountants |
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Address : |
New Delhi, India |
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Cost Auditors: |
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Name : |
Kabra and Associates Cost Accountants |
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Address : |
New Delhi, India |
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Holding Company: |
Jaiprakash Associates Limited |
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Subsidiary
Companies: |
· Jaypee Powergrid Limited · Sangam Power Generation Company Limited · Prayagraj Power Generation Company Limited · Jaypee Arunachal Power Limited · Jaypee Meghalaya Power Limited |
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Fellow Subsidiary
Companies: |
· Jaypee Ganga Infrastructure Corporation Limited · Himalyan Expressway Limited · Jaypee Infratech Limited · Jaypee Sports International Limited · Jaypee Cement Corporation Limited · Bhilai Jaypee Cement Limited · Bokaro Jaypee Cement Limited · Gujarat Jaypee Cement and Infrastructure Limited · Jaypee Agra Vikas Limited · Jaypee Fertilizers and Industries Limited · Jaypee Assam Cement Limited (w.e.f. 30.08.2011) · Himalayaputra Aviation Limited (w.e.f. 23.07.2011) |
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Associate
Companies/Concerns : |
· Jaypee Infra Ventures (A Private Company with unlimited liability) - (The erstwhile Jaypee Ventures Private limited merged in the Company w.e.f. 01.04.2011, the appointed date) · Jaypee Development Corporation Limited (subsidiary of Jaypee Infra Ventures (A Private Company with unlimited liability) · JIL Information Technology Limited (subsidiary of Jaypee Infra Ventures (A Private Company with unlimited liability) · Gaur and Nagi Limited (subsidiary of JIL Information Technology Limited) · Indesign Enterprises Private Limited (subsidiary of Jaypee Infra Ventures (A Private Company with unlimited liability) · Indus Hotels UK Limited (subsidiary of In design Enterprises Private Limited) (up to 05.07.2011) · GM Global Mineral Mining Private Limited (Subsidiary of Indesign Enterprises Private Limited) · Jaiprakash Agri Initiatives Company Limited (subsidiary of Jaypee Infra Ventures (A Private Company with unlimited liability) · Jaypee International Logistics Company Private Limited (subsidiary of Jaypee Infra Ventures (A Private Company with unlimited liability) · Tiger Hills Holiday Resort Private Limited (subsidiary of Jaypee Development Corporation Limited) · Anvi Hotels Private Limited (subsidiary of Jaypee Infra Ventures (A Private Company with unlimited liability) · Jaypee Uttar Bharat Vikas Private Limited · Kanpur Fertilizers and Cement limited (subsidiary of Jaypee Uttar Bharat Vikas Private Limited ) · RPJ Minerals Private Limited · Sarveshwari Stone Products Private Limited (subsidiary of RPJ Minerals Private Limited) · Rock Solid Cement Limited (subsidiary of RPJ Minerals Private Limited) · Sonebhadra Minerals Private Limited · MP Jaypee Coal Limited · Madhya Pradesh Jaypee Minerals Limited · MP Jaypee Coal Fields Limited · Jaiprakash Kashmir Energy Limited · Jaypee Hotels Limited · Jaypee Mining Venture Private Limited · Ceekay Estate Private Limited · Pac Pharma Drugs and Chemicals Private Limited · Akasva Associates Private Limited · Sparton Growth Fund Private Limited - Upto 30.6.2011 · Jaiprakash Exports Private Limited · Bhumi Estate Developers Private Limited · Jaypee Technical Consultants Private Limited · Essjay Enterprises Private Limited - Upto 30.6.2011 · Angad Growth Fund Private Limited - Upto 30.6.2011 · Andhra Cements Limited (subsidiary of Jaypee Development Corporation Limited (w.e.f. 10.02.2012) |
CAPITAL STRUCTURE
After: 29.09.2012
Authorised Capital : Rs.113000.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.29380.031
Millions
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8300000000 |
Equity Shares |
Rs.10/- each |
Rs.83000.000 Millions |
|
300000000 |
Preference Shares |
Rs.10/- each |
Rs.30000.000 Millions |
|
|
Total |
|
Rs.113000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2624757123 |
Equity Shares |
Rs.10/- each |
Rs.26247.600
Millions |
|
|
|
|
|
Reconciliation of
number of shares outstanding at the beginning and at the end of the reporting
period
(Rs. in Millions)
|
Particulars |
Figures as at the end of current reporting period, March 31, 2012 |
|
|
|
Equity Shares |
|
|
|
Number |
Amount |
|
Shares outstanding at the beginning of the year |
2,095,680,200 |
20956.800 |
|
Shares issued during the year |
529,076,923 |
5290.800 |
|
Shares brought back during the year |
|
_ |
|
Shares outstanding at the end of the year |
2,624,757,123 |
26247.600 |
Amount of Rs. 5290.800 Millions was in share suspense account as on 31.03.2011 and 52,90,76,923 equity shares of Rs.10/- each were allotted during the year, consequent to amalgamation of erstwhile Jaypee Karcham Hydro Corporation Limited (JKHCL) and erstwhile Bina Power Supply Company Limited (BPSCL) with the Company from the appointed date i.e. 01.04.2010.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
26247.600 |
26247.600 |
20956.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
28402.400 |
25459.000 |
12821.300 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
54650.000 |
51706.600 |
33778.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
120775.400 |
108917.500 |
41115.800 |
|
|
2] Unsecured Loans |
10310.000 |
8990.000 |
12630.000 |
|
|
TOTAL BORROWING |
131085.400 |
117907.500 |
53745.800 |
|
|
DEFERRED TAX LIABILITIES |
5155.100 |
3130.200 |
2339.700 |
|
|
|
|
|
|
|
|
TOTAL |
190890.500 |
172744.300 |
89863.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
96570.000 |
30741.400 |
40662.600 |
|
|
Capital work-in-progress |
63837.700 |
89621.600 |
5319.500 |
|
|
|
|
|
|
|
|
Preoperative Expenses of New Projects |
0.000 |
0.000 |
2423.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
38630.800 |
36063.000 |
14209.600 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
486.600
|
175.300 |
84.100 |
|
|
Sundry Debtors |
4303.600
|
1556.600 |
2039.300 |
|
|
Cash & Bank Balances |
7158.100
|
20242.400 |
24087.900 |
|
|
Other Current Assets |
1286.500
|
1595.100 |
925.000 |
|
|
Loans & Advances |
11500.900
|
3813.500 |
1499.800 |
|
Total
Current Assets |
24735.700
|
27382.900 |
28636.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8112.700
|
3295.200 |
139.600 |
|
|
Other Current Liabilities |
17561.600
|
4107.500 |
247.400 |
|
|
Provisions |
7209.400
|
3661.900 |
1000.300 |
|
Total
Current Liabilities |
32883.700
|
11064.600 |
1387.300 |
|
|
Net Current Assets |
(8148.000)
|
16318.300 |
27248.800 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
190890.500 |
172744.300 |
89863.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
16155.600 |
7368.900 |
6907.300 |
|
|
|
Other Income |
707.400 |
1038.500 |
270.600 |
|
|
|
TOTAL (A) |
16863.000 |
8407.400 |
7177.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of operation and maintenance |
493.600 |
268.800 |
|
|
|
|
Employee benefits expense |
432.900 |
243.400 |
|
|
|
|
Other expenses |
411.600 |
296.900 |
|
|
|
|
Extraordinary items |
0.000 |
100.200 |
|
|
|
|
TOTAL (B) |
1338.100 |
909.300 |
828.600 |
|
|
|
|
|
|
|
|
2Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15524.900 |
7498.100 |
6349.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8594.500 |
4484.400 |
2364.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6930.400 |
3013.700 |
3985.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2300.500 |
949.100 |
951.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4629.900 |
2064.600 |
3034.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
600.400 |
413.500 |
518.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4029.500 |
1651.100 |
2515.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8119.500 |
8975.200 |
5183.000 |
|
|
|
|
|
|
|
|
|
Add |
PROFIT
TRANSFERRED FROM AMALGAMATING COMPANY |
NA |
(28.600) |
1014.200 |
|
|
|
|
|
|
|
|
|
Add |
DEBENTURE
REDEMPTION RESERVE WRITTEN BACK |
NA |
480.000 |
290.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Debenture Redemption Reserve for the year |
NA |
2773.600 |
3.200 |
|
|
|
Reserve for Premium on Foreign Currency
Convertible Bonds |
NA |
184.600 |
24.300 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
8119.500 |
8975.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Verified Emission Reductions (VERs) |
398.700 |
382.100 |
411.152 |
|
|
|
Bank Interest on Fixed Deposits |
45.000 |
130.800 |
16.202 |
|
|
TOTAL EARNINGS |
443.700 |
512.900 |
427.354 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Payment to Suppliers of Capital Equipment |
5220.100 |
36.900 |
2677.345 |
|
|
|
Payment for suppliers of spares |
14.100 |
9.200 |
23.557 |
|
|
TOTAL IMPORTS |
5234.200 |
46.100 |
2700.902 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Before Extraordinary items |
|
|
|
|
|
|
Basic |
1.54 |
0.84 |
1.20 |
|
|
|
Diluted |
1.47 |
0.67 |
1.19 |
|
|
|
After Extraordinary items |
|
|
|
|
|
|
Basic |
1.54 |
0.79 |
1.20 |
|
|
|
Diluted |
1.47 |
0.64 |
1.19 |
|
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 |
5453.500 |
9057.900 |
4270.100 |
3744.300 |
|
Total Expenditure |
553.500 |
943.200 |
1590.900 |
2107.300 |
|
PBIDT (Excl OI) |
4900.000 |
8114.700 |
2679.200 |
1637.000 |
|
Other Income |
91.300 |
72.700 |
113.000 |
105.200 |
|
Operating Profit |
4991.300 |
8187.400 |
2792.200 |
1742.200 |
|
Interest |
2278.100 |
2885.000 |
2874.400 |
2945.600 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
2713.200 |
5302.40 |
(82.200) |
(1203.400) |
|
Depreciation |
673.800 |
774.300 |
960.300 |
830.500 |
|
Profit Before Tax |
2039.400 |
4528.100 |
(1042.500) |
(2033.900) |
|
Tax |
209.800 |
867.800 |
(66.700) |
(811.300) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1829.600 |
3660.300 |
(975.800) |
(1222.600) |
|
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 |
1829.600 |
3660.300 |
(975.800) |
(1222.600) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
23.90
|
19.64 |
35.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.66
|
28.02 |
43.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.82
|
3.62 |
4.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.04 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.40
|
2.28 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75
|
2.37 |
20.64 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
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 |
Yes |
OPERATIONS:
The Company now has three operative Hydro-Electric Plants, namely,
i) 300 MW Jaypee Baspa-II Hydro-Electric Plant in Himachal Pradesh;
ii) 400 MW Jaypee Vishnuprayag Hydro-Electric Plant in Uttarakhand; and
iii) 1000 MW Jaypee Karcham Wangtoo Hydro-Electric Plant in Himachal Pradesh.
The Company is also implementing two Thermal Power Projects, namely,
i) 1250 MW Jaypee Bina Thermal Power Plant in Madhya Pradesh in two phases comprising of Phase-I (500W) and Phase-II (750MW)
ii) 1320 MW (2 x 660 MW) Jaypee Nigrie Super Thermal Power Project in Nigrie, Distt. Singrauli in Madhya Pradesh.
The performance of the Company’s operative Plants, their plant availability and the Energy Generation during the year was quite satisfactory.
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG-TERM
BORROWINGS |
|
|
|
Foreign Currency Convertible Bonds |
10260.000 |
8940.000 |
|
Govt. of Uttarakhand |
50.000 |
50.000 |
|
Total |
10310.000 |
8990.000 |
300 MW Jaypee
Baspa-II Hydro-Electric Plant
The average tariff for Baspa-II Plant for the year as per the Multi Year Tariff (MYT) Order dated 30th March, 2009 and in accordance with the Power Purchase Agreement (PPA), works out to Rs. 2.69 per unit. The generation of the energy of Baspa-II plant during the year was 1401.67 MUs including 12% Free Power to Himachal Pradesh State Electricity Board (HPSEB)/Government of Himachal Pradesh and also auxiliary consumption/transformer losses. The Net Saleable Energy during the year was 1221.83 MUs, out of which 1050.06 MUs was Primary Energy and 155 MUs was Secondary Energy and balance 16.77 MUs was supplied to HPSEB without any charges, besides their entitlement to 12% free power.
400 MW Jaypee
Vishnuprayag Hydro-Electric Plant
The average tariff for the year for 400 MW Vishnuprayag Plant works out to Rs. 2.39 per unit. The total generation including 12% free Power to State Government and also auxiliary consumption/ transformer losses was 2176.86 MUs. The Net Saleable Energy was 1889.20 MUs out of which Saleable Primary Energy was 1545.88 MUs and balance Saleable Secondary Energy was 343.32 MUs.
1000 MW Jaypee
Karcham Wangtoo Hydro-Electric Plant
The Directors of the Company are pleased to report that Karcham Wangtoo Hydro-electric Plant, the largest operating Hydro-electric Plant in private sector in the Country, was fully commissioned on 13th September, 2011. The average tariff realised for the year works out to Rs. 3.89 per unit. The total generation including 12% free Power to State Government and also auxiliary consumption/ transformer losses was 2543.13 MUs. The Net Saleable Energy was 2248.12 MUs. Aggregate Sale of energy from the plant during the financial year 2011-12 was Rs. 8742.600 Millions.
NATIONAL AWARD
The Directors are pleased to inform that Baspa-II Hydro-Electric 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’.
OUTLOOK
Keeping in view the performance of three Hydro-electric Plants of the Company, viz. 300 MW Baspa-II Hydro-electric Plant, 400 MW Vishnuprayag Hydro-electric Plant, 1000 MW Karcham Wangtoo Hydro-electric Plant and the expected Commissioning of first phase of 500 MW of Jaypee Bina Thermal Power Plant during the current financial year (2012-13) and that of 1320 MW Jaypee Nigrie Super Power Plant in 2014, the Company’s further expansion in Hydro Power as also in Thermal Power through its subsidiaries and the diversification plans to setup Cement Grinding Units, the Directors of the Company envisage a bright future outlook for the Company.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Industry Structure
and Developments
The Indian Power Industry is one of the largest and most important industries in India as it fulfills the energy requirements of various other industries. It is one of the most critical components of Infrastructure that affects economic growth and the well being of their nation. Growth in the power sector is related to India’s GDP growth rate and hence, in order to sustain the growth of 8% to 9% in GDP, India needs to continuously add the power generation capacity commensurate with this pace.
Outlook
In view of various new projects being undertaken by the Company, the Company shall be taking strong position in India’s power sector in the forthcoming years. The future outlook of the Company is bright.
Financial performance
with respect to operational performance
The financial performance of the Company with respect to operational performance is satisfactory ensuring the Company’s commitments of servicing its debts and enhancing the value for Equity Shareholders.
FIXED ASSETS:
· Land
· Buildings
· Plant and Machinery
· Furniture and Fixture
· Vehicles
· Office Equipments
AS PER WEBSITE DETAILS:
JAIPRAKASH POWER
VENTURES SLUMP ON NEWS OF EQUITY DILUTION
Mumbai February 20, 2013 Last Updated at 11:49 IST
Jaiprakash Power Ventures has slumped in noon deals after the company announced the opening of qualified institutional placement to raise up to Rs 35000.000 Millions.
Jaiprakash Power Ventures' qualified institutional placement (QIP) to raise up
to Rs 35000.000 Millions opened for bidding on Tuesday. The floor price for the
QIP has been set at Rs 31.93 per share. If one assumes that the QIP is priced
at the floor price of Rs 31.93 per share, the fresh issue of shares will result
in equity dilution of a staggering 41.76%.
The stock opened at Rs 33.10 and slipped 6.5% at Rs 30.70. It is now 25% away
from its 52 week low of Rs 24.55. Around 7,53,000 shares have been traded on
the BSE so far, as against 4,51,000 shares that were traded on an
average in the last two weeks.
KARCHAM WANGTOO-ABDULLAPUR TRANSMISSION LINE OPENED
New Delhi, March 6, 2012:
The 217 Kms long, 400 kV D/C (quad conductor) Karcham Wangtoo-Abdullapur Transmission line built by Jaypee Powergrid Limited (JPL), was today successfully synchronized with the Northern Regional Grid of POWERGRID.
This transmission line connects Wangtoo switchyard of Jaypee’s 1000 MW Karcham Wangtoo Hydro Electric Project with 400/220 kV Substation of POWERGRID at Abdullapur in Haryana. In addition, it provides a linkage with the 400 kV Baspa Jhakri line for system security. This line is designed as a high capacity power transmission
corridor and will benefit both existing as well as future projects in the Satluj basin.
The Jaypee Powergrid Limited, a joint venture of Power Grid Corporation of India Limited and Jaiprakash Power Ventures Limited (JPVL), was granted transmission license under the Electricity Act 2003 by Central Electricity Regulatory Commission in October 2007 to build, operate and maintain this transmission line.
“It is indeed a matter of great satisfaction for us that we have successfully commissioned the power transmission project to evacuate power from the KarchamWangtoo area. The line passes through mountainous region and was exposed to typical difficulties associated with construction in the high altitude,” said Mr. Suren Jain, Managing Director and CFO of Jaiprakash Power Ventures Limited.
JAIPRAKASH POWER TO
RAISE RS 3500.000 MILLIONS
Jan 14, 2013, 07.08 PM IST
Jaiprakash Power Ventures today said it plans to raise Rs 35000.000 Millions for its ongoing projects, including that of subsidiaries. In a regulatory filing to BSE, the company also said it has registered a loss of Rs 975.800 Millions in the third quarter ended December 31, 2012.
Also read: Buy KPIT, Kalpataru Power; sell Adani Enter: Lancelot Cunha
The company had posted a net profit of Rs 595.200 Millions in the same period last fiscal. "Subject to approval of the shareholders the company will raise resources up to Rs 35000.000 Millions through various domestic and international options for its ongoing projects or joint venture and subsidiary projects," Jaiprakash Power Ventures informed BSE.
Meanwhile, the company's income from operations grew 8.59 per cent from Rs
3675.900 Millions in December 31, 2011 to Rs 3991.700 Millions in December 31,
2012. Jaiprakash Power Ventures is an arm of the Jaypee Group which has
interests in Civil Engineering and Construction, Cement, Power, Real Estate,
Expressways, Hospitality etc.
The company's power projects which are in various stages of implementation
include Hydro, Thermal and Transmission. Shares of the company were trading at
Rs 38.50 apiece, down 4.35 per cent on the BSE.
CMT REPORT [Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records 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 Declration :
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.