MIRA INFORM REPORT
|
Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL STEEL AND POWER LIMITED |
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Registered
Office : |
O.P. Jindal Marg, Hisar – 125005, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
28.09.1979 |
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Com. Reg. No.: |
05-009913 |
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Capital
Investment / Paid-up Capital : |
Rs. 934.800 Millions |
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CIN No.: [Company Identification
No.] |
L27105HR1979PLC009913 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JBPJ00181G DELJ03437A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of sponge Iron, steel products and power generation. |
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No. of Employees
: |
15000 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (76) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
USD 400000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part
of Jindal Group. It is a well established and a reputed company having
excellent track record. Financial position of the company appears to be sound.
Trade relations are reported as praiseworthy. Business is active. Payments
are reported to be regular and as per commitments. The company can
be considered excellent for business dealing 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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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 |
AA+ [Long Term Bank Facilities] |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
08.04.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1 + [Short Term Bank Facilities] |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
08.04.2013 |
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 : |
O.P. Jindal Marg, Hisar – 125005, Haryana, India |
|
Tel. No.: |
91-1662-222471-75/
83/ 84 |
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Fax No.: |
91-1662-222476/
499 |
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E-Mail : |
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Website : |
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Location : |
Owned (Industrial Area) |
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Corporate Office : |
Jindal Centre,
12, Bhikaiji Cama Place, New Delhi - 110066, India |
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Tel. No.: |
91-11-26188340-50 |
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Fax No.: |
91-11-26161271/
26170691 |
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E-Mail : |
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Factory 1 : |
Karsia Road, Post Box No.16, Raigarh – 496001, Chhattisgarh, India |
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Tel. No.: |
91-7762-304300/ 227001-05 |
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Fax No.: |
91-7762-227022-23/ 227050 |
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Factory 2 : |
13 KM Stone, G.E.
Road, Mandir Hasaud, Raipur – 492001, Chhattisgarh, India |
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Tel. No.: |
91-771-2471205/
07/ 3054600 |
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Fax No.: |
91-771-2471404/
2471214/ 3054666 |
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Factory 3 : |
Jindal Nagar, Village
Nisha, SH 63, Chhendipada Road, Angul – 759111, Orissa, India |
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Tel. No.: |
91-6761-254191/
95 |
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Factory 4 : |
Balkudra,
Patratu, District – Ramgarh – 829143, Jharkhand, India |
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Tel. No.: |
91-6553-275724/
275726 |
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Fax No.: |
91-6553-275744 |
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Factory 5 : |
Iron Ore Pellet
Plant, P O Box No. 86, Joda – Barbil Highway, Barbil, District – Keonjhar –
758035, Orissa, India |
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Tel. No.: |
91-6767-248817 |
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Fax No.: |
91-6767-248620 |
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Factory 6 : |
Jindal Open Cast Coal
Mines, Village Dongamahua, P.O. Dhorabhatta (Tamnar), District Raigarh –
496107, Chhattisgarh, India |
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Tel. No.: |
91-7767-203538/
203485 |
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Fax No.: |
91-7767-281611 |
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Factory 7 : |
TRB Iron Ore Mines,
At P.O. Tensa, District Sundergarh – 770042, Orissa, India |
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Tel. No.: |
91-6625-236023/
24 |
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Fax No.: |
91-6625-236022 |
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Marketing Office : |
Located At:
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Branch Offices : |
Located At:
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Stock Yards : |
Located At:
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International Locations : |
Located at:
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DIRECTORS
As on: 31.03.2012
|
Name : |
Mrs. Savitri Jindal |
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Designation : |
Chairperson Emeritus |
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Name : |
Mr. Naveen Jindal |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Ratan Jindal |
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Designation : |
Director |
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Name : |
Ms. Shallu Jindal |
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Designation : |
Additional Director |
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Name : |
Mr. Vikrant Gujral |
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Designation : |
Group Vice Chairman and Head Global Ventures |
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Name : |
Mr. Anand Goel |
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Designation : |
Joint Managing Director |
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Name : |
Mr. Sushil Maroo |
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Designation : |
Director |
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Name : |
Mr. R.V. Shahi |
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Designation : |
Director, Independent |
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Name : |
Mr. Arun K. Purwar |
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Designation : |
Director – Independent |
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Name : |
Mr. Haigreve Khaitan |
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Designation : |
Director – Independent |
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Name : |
Mr. Hardip Singh Wirk |
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Designation : |
Director – Independent |
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Name : |
Mr. Rahul Mehra |
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Designation : |
Director – Independent |
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Name : |
Mr. Inderpal Singh Kalra |
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Designation : |
Nominee Director - IDBI Bank Limited, Independent |
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Name : |
Mr. M. L. Gupta |
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Designation : |
Wholetime Director |
KEY EXECUTIVES
|
Name : |
Mr. T. K. Sadhu |
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Designation : |
Company Secretary
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MANAGEMENT TEAM : |
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|
Name : |
Mr. V R Sharma |
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Designation : |
Deputy Managing Director
and CEO (Steel Business) |
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|
Name : |
Mr. Rajeev
Bhadauria |
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Designation : |
Director Group HR |
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Name : |
Mr. B. S. Raman |
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Designation : |
Director, Finance |
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|
Name : |
Mr. Virendra
Kumar Mehta |
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Designation : |
Director, Sales
Marketing |
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Name : |
Mr. D. K. Saraogi |
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Designation : |
Executive
President and Head, Jindal Shadeed |
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|
Name : |
Mr. N. A. Ansari |
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Designation : |
Director, Shadeed
Iron and Steel LLC, Oman |
SHAREHOLDING PATTERN
As on: 31.03.2013
|
Category of
Shareholder |
Number
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
15190298 |
1.62 |
|
|
464485550 |
49.69 |
|
|
479675848 |
51.31 |
|
|
|
|
|
|
575400 |
0.06 |
|
|
71997600 |
7.70 |
|
|
72573000 |
7.76 |
|
Total shareholding of Promoter and Promoter Group (A) |
552248848 |
59.07 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
26242828 |
2.81 |
|
|
456820 |
0.05 |
|
|
36866319 |
3.94 |
|
|
203238865 |
21.74 |
|
|
266804832 |
28.54 |
|
|
|
|
|
|
38113629 |
4.08 |
|
|
|
|
|
|
66936267 |
7.16 |
|
|
2684560 |
0.29 |
|
|
8045682 |
0.86 |
|
|
368186 |
0.04 |
|
|
7677496 |
0.82 |
|
|
115780138 |
12.39 |
|
Total Public shareholding (B) |
382584970 |
40.93 |
|
Total (A)+(B) |
934833818 |
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) |
934833818 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of sponge Iron, steel products and power generation. |
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Products : |
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PRODUCTION STATUS (As on 31.03.2012)
|
Particulars |
Unit |
Installed Capacity |
|
At Raigarh |
|
|
|
Sponge Iron |
M.T. |
1370000 |
|
Mild Steel |
M.T. |
3000000 |
|
Ferro Alloys |
M.T. |
36000 |
|
Power |
M.W. |
893 |
|
Hot Metal/Pig Iron |
M.T |
1670000 |
|
Rail and Universal Beam Mill |
M.T |
750000 |
|
Plate Mill |
M.T |
1000000 |
|
Fabricated Structures |
M.T. |
120000 |
|
Cement Plany |
M.T |
500000 |
|
Medium and Light Section Mill |
M.T |
600000 |
|
At |
|
|
|
Machinery and
Castings |
M.T. |
11500 |
|
Ingots |
M.T. |
30000 |
|
CF Castings |
M.T. |
3000 |
|
AT Barbil |
|
|
|
Pelletization
Plant |
M.T |
4500000 |
|
At Satara ( |
|
|
|
Wind Energy |
MW |
24 |
|
At Patratu |
|
|
|
Wire Rod |
M.T. |
600000 |
|
Bar Mill |
M.T. |
1000000 |
|
At Angul |
|
|
|
Power |
MW |
270 |
|
Fabricated Structures |
M.T. |
40000 |
NOTE:
Installed capacity is as certified by the management
and relied upon by the auditors being a technical matter.
|
Particulars |
Unit |
Production |
|
Sponge Iron |
M.T. |
1319840 |
|
M S Round |
M.T. |
482496 |
|
H.C. Ferro Crome |
M.T. |
22663 |
|
Power |
KWH |
4668 |
|
Hot Metal/Pig Iron |
M.T |
1653060 |
|
Parallel Flange Beam / Columns |
M.T |
499619 |
|
Universal Plate / Coil |
M.T |
729493 |
|
Other Finished
Steel Products |
M.T. |
69618 |
|
Other Semi Steel
Products |
M.T. |
2276630 |
|
Machineries |
M.T. |
9060 |
|
Wire Rod |
M.T. |
250598 |
|
Bars |
M.T |
97145 |
|
Fabricated
Structures |
M.T. |
56284 |
|
Cement |
M.T |
308258 |
|
Medium and Light
Sections |
M.T |
185788 |
|
|
M.T. |
3736915 |
|
Wind Energy |
Million KW/H |
57 |
GENERAL INFORMATION
|
No. of Employees : |
15000 [Approximately] |
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Bankers : |
·
State Bank of ·
Punjab National Bank ·
State Bank of ·
ICICI Bank Limited ·
Canara Bank ·
Industrial
Development Bank of ·
Export
- Import Bank of ·
Jammu
and Kashmir Bank Limited ·
Indian
Overseas Bank ·
Bank
of ·
Lord
Krishna Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.S. Kothari Metha and Company Chartered Accountants |
|
Address : |
145-149, Tribhuwan Complex, Ishwar Nagar, |
|
Tel. No.: |
91-11-46708888 |
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Fax No.: |
91-11-66628889 |
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E-Mail : |
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Subsidiaries : |
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Subsidiaries of
Jindal Power Limited : |
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Subsidiaries of
Jindal Minerals and Metals Africa Limited : |
Jindal Minerals and Metals Africa Congo SPRL(Cease to exist as
subsidiary w.e.f. 26.03.2012) |
|
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Subsidiaries of
Jindal Steel and Power (Mauritius) Limited : |
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Others : |
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Associates : |
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Joint Ventures : |
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|
Enterprises over
which Key Management Personnel and their relatives exercise significant
influence and with whom
transactions have taken place during the year : |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Re.1/- each |
Rs. 2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
934833818 |
Equity Shares |
Re.1/- each |
Rs. 934.800
Millions |
|
|
|
|
|
Reconciliation of the
number of shares outstanding at the beginning and at the end of the reporting
period:
|
Particulars |
Number of Shares |
|
Equity Shares outstanding at the beginning of the year |
934269031 |
|
Add: Equity Shares issued under employees stock option scheme |
564787 |
|
Equity Shares outstanding at the close of the year |
934833818 |
Terms/rights attached
to equity shares
The Company has only one class of equity shares having par value of Rs.1 per share. E ach holder of equity share is entitled to one vote per share. The Company declares dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in the ensuing Annual General Meeting.
During the year ended 31st March, 2012, the amount of per share dividend recognized as distributions to equity shareholders was Rs. 1.60.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholders.
Aggregate number of
bonus shares issued, shares issued for consideration other than cash and shares
bought back during the period of five years immediately preceding the reporting
date:
|
Particulars |
Number of Shares |
|
Equity shares allotted as fully paid bonus shares by capitalization of securities premium reserve |
- |
|
Equity shares allotted as fully paid-up pursuant to contracts for consideration other than cash |
- |
|
Equity shares bought back by the Company |
- |
The Company has allotted total 775,651,530 fully paid equity shares upto the year ended 31st March, 2012 as fully paid bonus shares by capitalizing securities premium reserve.
In addition the
Company has allotted the following equity shares during the preceding five
years under its various Employees Stock option schemes
|
During the year
ended |
Number of Shares |
|
31st March, 2012 |
564787 |
|
31st March, 2011 |
3034949 |
|
31st March, 2010 |
929869 |
|
31st March, 2009 |
691343 |
|
31st March, 2008 |
- |
|
Total |
5220948 |
Details of shareholders
holding more than 5% shares in the Company
|
Name of the
shareholder |
No. of Shares |
% holding |
|
Equity Shares of
Re. 1 each fully paid |
|
|
|
Gagan Infraenergy Limited |
66954060 |
7.16 |
|
Opelina Finance and Investment Limited |
79838960 |
8.54 |
|
Sun Investment Limited |
86978940 |
9.30 |
As per of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares
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 |
934.800 |
934.300 |
931.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
107519.300 |
85959.100 |
66305.400 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
108454.100 |
86893.400 |
67236.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
68480.900 |
50850.100 |
42351.600 |
|
|
2] Unsecured Loans |
75243.700 |
63566.900 |
41481.000 |
|
|
TOTAL BORROWING |
143724.600 |
114417.000 |
83832.600 |
|
|
Employee’s Stock Options
outstanding |
0.000 |
0.000 |
226.700 |
|
|
Less : Deferred
employee compensation expenditure |
0.000 |
0.000 |
(3.300) |
|
|
DEFERRED TAX LIABILITIES |
10678.100 |
8783.300 |
7150.000 |
|
|
|
|
|
|
|
|
TOTAL |
262856.800 |
210093.700 |
158442.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
115631.100 |
100036.100 |
67040.600 |
|
|
Capital work-in-progress |
104798.600 |
70778.700 |
64352.800 |
|
|
|
|
|
|
|
|
INVESTMENT |
14121.700 |
12100.100 |
10671.100 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
OTHER NON CURRENT ASSETS |
46.300 |
60.300 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
30513.100 |
22041.200 |
13285.000 |
|
|
Sundry Debtors |
9050.600 |
7371.200 |
6223.600 |
|
|
Cash & Bank Balances |
309.400 |
437.100 |
601.000 |
|
|
Other Current Assets |
3076.400 |
3198.700 |
0.000 |
|
|
Loans & Advances |
58033.900 |
47851.300 |
38659.400 |
|
100983.400 |
80899.500 |
58769.000 |
||
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9983.100 |
7090.000 |
22117.100 |
|
|
Other Current Liabilities |
38027.700 |
27727.600 |
6866.900 |
|
|
Provisions |
24713.500 |
18963.400 |
13437.100 |
|
Total
Current Liabilities |
72724.300 |
53781.000 |
42421.100 |
|
|
Net Current Assets |
28259.100 |
27118.500 |
16347.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
30.200 |
|
|
|
|
|
|
|
|
TOTAL |
262856.800 |
210093.700 |
158442.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
133339.500 |
95741.700 |
73675.900 |
|
|
|
Other Income |
1844.800 |
1431.600 |
1173.100 |
|
|
|
TOTAL (A) |
135184.300 |
97173.300 |
74849.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
45298.400 |
27303.500 |
|
|
|
|
Purchase of stock-in-trade |
4527.500 |
1768.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-process and stock-in-trade |
(3792.400) |
(3334.500) |
|
|
|
|
Employee benefits expense |
3854.400 |
2777.800 |
|
|
|
|
Other expenses |
42826.700 |
31401.400 |
|
|
|
|
TOTAL (B) |
92714.600 |
59916.200 |
48727.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
42469.700 |
37257.100 |
26121.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5367.700 |
2850.000 |
1924.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
37102.000 |
34407.100 |
24196.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8671.900 |
6877.700 |
5121.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28430.100 |
27529.400 |
19075.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7323.600 |
6888.200 |
4278.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
21106.500 |
20641.200 |
14796.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
51248.900 |
54788.300 |
43189.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Final Dividend |
1494.600 |
1401.900 |
1165.200 |
|
|
|
Corporate tax on Dividend |
31.500 |
37.500 |
42.800 |
|
|
|
General Reserve |
2200.000 |
2100.000 |
1500.000 |
|
|
|
Debenture Redemption Reserve |
0.000 |
0.000 |
490.000 |
|
|
BALANCE
CARRIED TO THE B/S |
47522.800 |
51248.900 |
54788.300 |
|
|
|
|
|
|
|
|
|
|
FOB Value of Export
Sales |
14288.400 |
10736.100 |
4104.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
29521.800 |
18715.700 |
1129.400 |
|
|
|
Components & Spares Parts |
1719.800 |
1969.600 |
1998.100 |
|
|
|
Capital Goods and Others |
8652.200 |
12629.400 |
18132.400 |
|
|
TOTAL IMPORTS |
39893.800 |
33314.700 |
21259.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
22.58 |
21.11 |
15.90 |
|
|
|
Diluted |
22.58 |
22.09 |
15.78 |
|
QUARTERLY RESULTS
|
Particular |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
|
Type |
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
|
Net Sales |
33310.900 |
35889.700 |
38209.400 |
42137.000 |
|
Total Expenditure |
22933.700 |
23283.200 |
25428.900 |
31774.200 |
|
PBIDT (Excl OI) |
10377.200 |
12606.500 |
12780.500 |
10362.800 |
|
Other Income |
122.000 |
74.100 |
39.200 |
1357.500 |
|
Operating Profit |
10499.200 |
12680.600 |
12819.700 |
11720.300 |
|
Interest |
2185.700 |
1778.900 |
2875.700 |
2368.700 |
|
Exceptional Items |
(5741.200) |
0.000 |
0.000 |
0.000 |
|
PBDT |
2572.300 |
10901.700 |
9944.000 |
9351.600 |
|
Depreciation |
2371.700 |
2488.800 |
2543.100 |
3081.000 |
|
Profit Before Tax |
200.600 |
8412.900 |
7400.900 |
6270.600 |
|
Tax |
76.400 |
2590.800 |
2196.200 |
1496.100 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
00.000 |
|
Profit After Tax |
124.200 |
5822.100 |
5204.700 |
4774.500 |
|
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 |
124.200 |
5822.100 |
5204.700 |
4774.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
15.61
|
21.24 |
19.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.32
|
28.75 |
25.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.13
|
15.22 |
15.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.32 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.33
|
1.32 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39
|
1.51 |
1.38 |
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 |
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 |
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONAL REVIEW:
The Company has, on a consolidated basis, achieved an aggregate income of Rs. 183505.300 Millions compared to previous year’s Rs.131936.000 Millions. Profit before tax has increased to Rs. 51886.000 Millions in 2011-12 from Rs. 49880.200 Millions in 2010-11. Profit after tax has also grown to Rs. 40022.600 Millions in the year from Rs. 38040.100 Millions in the previous year. The Reserves and Surplus have touched Rs.180176.300 Millions.
SPONGE IRON:
The Company produced 1319940 MT of Sponge Iron during the year under report as against previous year’s production of 1319840 MT and achieved a capacity utilization of 96.35%.
POWER:
The Company generated 4634.000 million Kwh of power during the year under report as against last year’s 3420.000 million Kwh of power.
RAIPUR UNIT
Raipur Unit produced 1778 metric tons of castings and has done machining of 9060 metric tons during the year under report as year as against 1,569 metric tons and 8,613 metric tons respectively in the previous year.
PROJECTS COMPLETED
Following projects were completed during the year under report:
1. Power Plants
(i) 540 MW (4X135 MW) power plant at Dongamahua, Raigarh Chhattisgarh: Under Phase–II, Unit I and II of 135 MW each power generation capacity were commissioned in January, 2012. Both the Units have established their operations. With this, all the four Units of 135 MW each power generation capacity set up at Dongamahua, Raigarh, Chhattisgarh are operational and generating power.
(ii) 810 MW (6x135 MW) power plant at Angul, Odisha: The Company is setting up 810 MW (6x135 MW) captive power plant at Angul, Odisha for meeting power requirement of its upcoming 6 MTPA integrated steel plant. Second Unit of 135 MW power generation capacity was commissioned in February, 2012. With this, two units of 135 MW each are operational and generating power. Third Unit of 135 MW power generation capacity is expected to be commissioned in July, 2012.
2. Machinery
Division, Raipur, Chhattisgarh
The production capacity of Machinery Division of Raipur Unit has been enhanced from 5,100 metric tons per annum to 10,000 metric tons per annum by making investment in machine tools, expansion of covered area and material handling equipment. The Company has received IBR Certification as manufacturer of headers of Boilers and foundry items. This Division is envisaging further expansion of its capacity by inclusion of more covered area and material handling facility and has planned to install Alfa Set Sand System in foundry for further improvement in product quality. The Pressure Vessel Division with a capacity of 2,500 metric tons per annum has started commercial operations.
PROJECTS UNDER
IMPLEMENTATION
1. Steel Plant at
Angul, Odisha
The Company is setting up 6 MTPA steel plant at Angul in the state of Odisha. The following facilities are, at present, under installation:
- Coal Washery (2x 600 TPH)
- Sponge Iron Plant based on Coal Gasification
- MTPA)
- Steel Melting Shop (1.64 MTPA)
- Plate Mill (1.5 MTPA)
- Captive Power Plant (6x135 MW)
Out of the above facilities under implementation, the construction of Plate Mill has been completed and is expected to be commissioned in financial year 2012-13. Apart from this, work on raw material handling plant, beam welding plant, cross country pipeline, raw water reservoir, in-take pump house and a housing colony is at an advanced stage of implementation.
The following facilities are also being set up at Angul:
- Coke Oven Plant (2.0 MTPA)
- Sinter Plant (4.0 MTPA)
- Pellet Plant (4.0 MTPA)
- Blast Furnace (3.2 MTPA)
- Sponge Iron Plant (2.0 MTPA)
- Steel Melting Shop (4.36 MTPA)
- Hot Strip Mill (4.5 MTPA)
Department of Water Resources, Government of Odisha has given permission for drawing of 95.16 cusecs of water from river Bramhani for the plant. Ministry of Environment and Forests, Government of India has issued environmental clearance and Odisha State Pollution Control Board has issued consent to establish for setting up of said steel plant. Technology suppliers for Sinter Plant (4.0 MTPA), Blast Furnace (3.2 MTPA) and Sponge Iron Plant (2.0 MTPA) have been finalized and discussions are under progress for finalizing technology suppliers for remaining facilities
2. Steel Plant at
Patratu, Jharkhand
The Company envisages setting up of 6 MTPA integrated steel plant at Patratu in the state of Jharkhand and in its first phase, is implementing 3 MTPA steel plants. Agreement has been signed with Government of Jharkhand for supply of 66.54 mcm of water from Damodar Basin for the plant and an agreement with Jharkhand State Electricity Board is under process of renewal for supply of 20 cusecs of water. Ministry of Environment & Forests, Government of India has issued environmental clearance and State Pollution Control Board, Jharkhand has issued consent to establish for setting up of said steel plant. The Company has already acquired 1,039 acres of land and process is on for acquiring balance 2,205 acres of land.
3. Steel plant,
Raigarh, Chhattisgarh
The existing steelmaking capacity at Raigarh Works is 3 MTPA. Considering the increasing demand for steel in coming years, the Company plans to enhance steelmaking capacity at Raigarh Works to 11 MTPA and is in the process of seeking various approvals. The Company has entered into memoranda of understanding with the State Government of Chhattisgarh in terms of which the State Government of Chhattisgarh will extend necessary assistance to the Company in expeditiously obtaining various approvals,m coal and iron ore linkages, environmental clearances, acquisition of land etc. for implementing the said expansion plan. Ministry of Environment and Forests, Government of India has issued Terms of Reference (TOR) for the proposed expansion in terms of which the Company has submitted draft Environment Impact Assessment and Environment
Management Plan to the Chhattisgarh Environment Conservation Board, Raipur, Chhattisgarh.
In order to further improve and strengthen the present operations, the following facilities are being added:-
- Additional mill for pulverized coal injection is being set up which will help in increasing the coal injection in Blast Furnace thereby reducing the consumption of coal as well as improving the productivity.
- Third Turbo-blower is being installed which will act as standby to the existing two turbo blowers and ensure continuity of hot blast air to Blast Furnace in case of shut down of any turbo.
- Slab Caster up gradation is being done to increase the width of the slabs. This will help in rolling the increased width plates from the Plate Mill.
- Additional 6 Silos are being set up to blend different kinds of coal. Low cost coal is blended with high grade coking coal to reduce the cost of blended coal and thus reduces the cost of coke. This will reduce the cost of conversion of hot metal in Blast Furnace.
- Second Ladle Refining Furnace is being installed in Steel Melting Shop - III which will increase steelmaking capacity by increasing the capacity of secondary steel making.
4. Pellet Plant at
Barbil, Odisha
The Company is setting up one more 4.5 MTPA Iron Ore Pellet Plant with wet grinding process at Barbil for which basic engineering and proprietary equipment have been ordered. Water approval, environmental clearance and consent to establish for setting up 10 MTPA Pellet plant at Barbil have already been received. Detailed engineering agency has been finalized and critical packages ordering is in progress. The pelletisation will be a value added process of iron ore fines and better utilization of powdery ore available in the mines.
5. Shadeed Sponge
Iron Plant
As a part of expansion, Shadeed Iron and Steel Company LLC, Oman, a subsidiary company, is setting up a 2 MTPA Steel Melting Shop. M/s Danieli, Italy has been finalized as the technology and core equipment supplier and M/s Idom, Spain has been finalized as the Engineering Consultant.
SUBSIDIARY COMPANIES
AND THEIR BUSINESS
Jindal Power Limited (JPL), operating 1,000 MW (4 X 250 MW) power plant in Raigarh (Chhattisgarh) has closed financial year 2011-12 with a total sales of Rs. 30403.500 Millions and earned a profit after tax of Rs.17649.900 Millions JPL is expanding its power generation capacity by setting up 2,400 MW (4 X 600 MW) power plant adjacent to its existing works. JPL envisages setting up hydro projects in the State of Arunachal Pradesh in Joint Venture with Hydro Power Development Corporation of Arunachal Pradesh Limited and thermal power projects in the states of Jharkhand and Odisha. Shadeed Iron and Steel LLC, Oman, operating 1.5 MTPA Hot Briquette Iron plant achieved sales of Rs. 27943.000 Millions in the financial year 2011-12 and earned a profit after tax of Rs. 2441.700 Millions. Jindal Mining SA (Pty) Limited, South Africa, operating coal mines achieved a sales of Rs. 4510.200 Millions in the financial year 2011-12 and earned a profit after tax of Rs. 381.800 Millions.
Africa continent and Australia are rich in mineral resources and the Company, through its subsidiary companies, is expanding its business activities by acquiring, exploring and operating iron, coal, limestone and base metals. The operations in Kiepersol Colliery in South Africa stabilized over the last year enabling a ramp up of production in the coming years. The Company also continues to pursue more opportunities in mining of coal, iron ore and manganese in this country. In Mozambique, the coking coal project is in the final stages of development. The sale is likely to start in financial year 2012-13.
MANAGEMENT DISCUSSION
AND ANALYSIS
ECONOMIC REVIEW
The global economic environment, which was moving ahead steadily took adverse turn in the middle of financial year 2011-12 due to the turmoil in the euro zone and slow growth outlook on the US economy. The global economic activities have slowed down and become more uneven. European countries are facing financial turmoil because they could not reach a consensus on restructuring their economies, debt and budgetary outlays in the face of public protests. Public unrest swelled in some oil-producing countries resulting in uncertainties in oil production/ price. Rising international prices of crude oil have affected the global economies badly. Japan was struck by the devastating earthquake and tsunami affecting, in particular, developing economies.
The growth prospects have become more uncertain due to global economic slowdown. The renewed stress has undermined financial markets and institutions in developed economies. Global trade and capital flows have declined, resulting in slow growth in emerging and developing economies too. However, growth prospects in China, India, Brazil, Russia and South Korea appear better and are expected to be stronger in view of projected economic growth in these countries. The shift is clearly towards emerging markets which are expected to spearhead the growth in the global economy.
The Indian economy is expected to grow by about 6.9% in financial year 2011-12, after having registered a growth rate of 8.4% in each of the two preceding years. The agriculture and services sector performed well, but overall industrial growth has slowed down. Manufacturing growth during the financial year 2011-12 is expected to remain sluggish. Inflation remained high for most of the period during the year, but came down substantially at the year end. Supply-side factors have triggered inflation particularly in food items. The tightening of monetary policy by Reserve Bank of India in order to control inflation has resulted in slowing down of investment and growth, particularly in the industrial sector. The growth rate of investment in the Indian economy declined significantly during the year under report. Interest rates have increased resulting in higher costs of borrowings impacting profitability and internal accruals. Revenues of the Government have remained less than anticipated and with higher than budgeted expenditure; there is a strong possibility of high fiscal deficit.
Despite difficult conditions in the global economy, exports continued to do better in financial year 2011-12 and are expected to grow at 14.3% in real terms over and above 22.7% growth achieved in financial year 2010-11, as per advance estimates of Economic Survey. Imports are likely to end the year with a real growth rate of 17.5% as against 15.6% in financial year 2010-11.
.
OUTLOOK
Steel Industry in India seems to be positive despite continuing global economic slowdown. This optimism stems from many factors. The Indian steel industry is in some ways insulated from the events affecting steel industry on a global scale as it does not rely on exports to the developed markets. Despite high interest rates and marginal slowdown in economic activity, the basic economic fundamentals will ensure stable performance of the economy in coming years. The expected domestic consumption of steel in the infrastructure and consumer durables sector is likely to see an upward trend. A massive investment to the tune of about Rs. 5.000 Millions in infrastructure sector has been envisaged during the 12th Five Year Plan starting this year. At the same time, there is a greater emphasis on the manufacturing sector which is likely to witness growth in the coming years. This highlights the potential of steel consumption growth as rough estimate of incremental demand for steel in the country will be approximately 40 million tons in infrastructure sector alone
Emergence of the rural market which is currently consuming a meagre 10 kg per annum will contribute to overall consumption significantly buoyed by projects like Bharat Nirman, Pradhan Mantri Gram Sadak Yojana and Rajiv Gandhi Awaas Yojana. In 2011, India’s per capita steel consumption stood at 57 kg compared to 1,157 kg in South Korea, 507 kg in Japan, 460 kg in China, 284 kg in the US and World average of 216 kg.
The Company has built strong fundamentals over the years and is appropriately positioned to benefit from the expected increasing demand in the country for steel. The steel production capacity is being enhanced by setting up integrated steel plants in Angul (Odisha) and Patratu (Jharkhand) and by increasing present steelmaking capacity of Raigarh Unit (Chhattisgarh). The Company is procuring state-of-the-art technology for these projects. Shadeed Iron and Steel Company LLC, a subsidiary company is planning to set up steelmaking facility with an annual production capacity of 2.0 million tons. The proposed enhancement in the production capacity of steel making is in line with the increasing consumption of steel and the Company will be in a position to market its products. Marketing department has been strengthened appropriately which is exploring various market segments in India and abroad.
In view of expected overcapacity, increasing domestic market volatility and margin pressures, the Company is changing its approach to suit the changing market conditions. The Company is evolving itself to be able to respond to vagaries of emerging markets in a better manner. It includes use of improved technologies, cost efficiencies, greater partnering with key customers, innovative pricing of products, broadening product service offerings, focusing on more profitable and value added steel segments and prioritizing on markets. The Company is also taking steps to improve the supply chain efficiency and special attention is given to operational logistics. Enhancing supply chain flexibility and its robustness will not only help the Company to compete in a dynamic economic environment but will also enable it to enhance its market position. In terms of adapting to a volatile environment, the Company is also working towards flexibility in production and will also adjust its capacity utilization to match market conditions or adjust product mix to suit the demand prevailing in the market.
In view of planned enhancement of steelmaking capacity and with a view to ensure constant supply of iron ore and coal, the Company has been pursuing with Central and State Governments for allotment of iron ore and coal mines and also for raw material linkages. Vigorous efforts are also being made for acquisition of iron ore and coal mines in Australia and Africa continent. Power, which is in short supply in the country, is another key input for steel making. However, captive power generation is adequately meeting the present power requirements of the steel manufacturing facilities of the Company.
Power sector growth in the country has persistently lagged behind and acute deficiency in power supply has provided enormous opportunities to the private sector to enter this field of enterprise. The Company is also in the business of power generation through its subsidiary company, namely, Jindal Power Limited (JPL), which is operating 1,000 MW (4x250 MW) power plant at Tamnar (Chhattisgarh), the power generation capacity of which is being enhanced by setting up another 2,400 MW (4x600 MW) power project. JPL is also envisaging setting up of thermal and hydro power projects with an estimated aggregate power generation capacity of 12,700 MW. This business activity will add strength and speed to the growth of the Company and ensure rich returns to all the stakeholders.
FINANCIAL PERFORMANCE
The Company’s overall operational performance has been satisfactory. During the financial year 2011-12, it achieved sales and other income of Rs. 135184.300 Millions as against last year’s Rs. 97173.300 Millions registering an impressive growth of about 39%. Profit before interest and depreciation increased from Rs. 37257.100 Millions to Rs. 42469.700 Millions, registering a remarkable growth of about 14%. Profit before tax increased from Rs. 27529.400 Millions to Rs. 28430.100 Millions, registering a growth of about 3%. Net profit increased by about 2% from Rs. 20641.200 Millions to Rs. 21106.500 Millions. Cash profit increased from Rs. 29152.200 Millions to Rs. 31673.200 Millions growing by about 9%. Reserves and surplus stood at Rs. 107519.300 Millions. Net block of assets including capital work in progress stood at Rs. 220429.800 Millions.
FINANCIAL MANAGEMENT
The increasing requirement of funds is consistent with the growing business. Two main sources of funds are internal accruals and borrowing from lenders. Internal accruals alone cannot fund the Company’s expansion at existing works and setting up of new plants. The Company is raising funds for working capital and project implementation from banks, financial institutions and other lenders, nationally and internationally, which are providing multiple financial facilities. Various credit options offered by lenders are thoroughly examined to find out their competitiveness and based on their terms and conditions, need based funds are borrowed. The financial facilities are appropriately serviced and secured as per terms of sanction. The Company’s senior management monitors the requirement and arrangement of funds, servicing of debts and management of internal accruals. The Company has arranged Rs. 42779.300 Millions from banks and FIs to meet capital expenditure during the financial year 2011-12.
UNSECURED LOAN:
(Rs in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Term Loans |
|
|
|
Other Loans |
9204.600 |
7722.900 |
|
Fixed Deposits from public |
60.800 |
379.400 |
|
Other Loans and Advances |
|
|
|
External Commercial Borrowings |
11669.200 |
18825.000 |
|
From Banks |
|
|
|
Short Term loans |
4772.100 |
7958.200 |
|
Other Loans |
24671.400 |
13495.800 |
|
Loans and advances
from related parties |
|
|
|
Inter Corporate Deposits (from subsidiary) |
24865.600 |
15185.600 |
|
Total |
75243.700 |
63566.900 |
CONTINGENT
LIABILITIES
(Rs in Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
|
Guarantees issued by the Company’s Bankers on behalf of the Company |
3760.200 |
3511.100 |
|
Letter of credit opened by banks |
6289.000 |
14531.200 |
|
Corporate guarantees/undertakings issued on behalf of third parties. |
33337.900 |
33595.000 |
|
Disputed Excise Duty and Other demands |
7809.600 |
6847.700 |
|
Bonds executed for machinery imports under E PCG Scheme |
27732.200 |
30399.900 |
|
Income Tax demands where the cases are pending at various stages of appeal with the authorities |
1877.600 |
1872.100 |
|
Claims against the Company, not acknowledge as debt |
- |
- |
STATEMENT OF STANDALONE
AUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED ON 31* MARCH 2013
Rs. In Millions
|
PARTICULARS |
for the quarter ended on |
Audited Financial Results for the financial year ended on |
||||
|
|
31st March, 2013 |
31st December, 2012 |
31st March, 2013 |
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|
1 |
Income From
Operations |
|
|
|
||
|
|
a) |
Net Sales / Income from Operations (net of excise duty) |
41651.700 |
37797.200 |
147986.800 |
|
|
|
b) |
Other Operating Income |
485.300 |
412.200 |
1560.200 |
|
|
|
|
Total Income from
Operations (net) [1(a) + 1(b)] |
42137.000 |
38209.400 |
149547.000 |
|
|
2 |
Expenses |
|
|
|
||
|
|
a) |
Cost of materials consumed |
14948.000 |
11522.800 |
50316.200 |
|
|
|
b) |
Purchase of stock-in-trade |
764.000 |
568.300 |
2865.800 |
|
|
|
c) |
Change in inventories of finished goods, work-in-progress and stock-in-trade |
2258.900 |
1127.200 |
(1482.000) |
|
|
|
d) |
Employee benefits expenses |
1236.500 |
1078.900 |
4478.900 |
|
|
|
e) |
Depreciation and amortisation expenses |
3081.000 |
2543.100 |
10484.600 |
|
|
|
f) |
Stores & Spares consumed |
4223.900 |
4456.800 |
16986.600 |
|
|
|
g) |
Power & Fuel |
2436.200 |
2367.500 |
10363.900 |
|
|
|
h) |
Other Expenditure |
5906.700 |
4307.400 |
19890.600 |
|
|
|
|
Total expenses |
34855.200 |
27972.000 |
113904.600 |
|
|
3 |
Profit /(Loss) from
Operations before other income, finance costs and exceptional items (1-2) |
7281.800 |
10237.400 |
35642.400 |
||
|
4 |
Other Income |
1357.500 |
39.200 |
1592.800 |
||
|
5 |
Profit / (Loss) from
ordinary activities before finance costs and Exceptional Items (3+4) |
8639.300 |
10276.600 |
37235.200 |
||
|
6 |
Finance costs |
2368.700 |
2875.700 |
9209.000 |
||
|
7 |
Profit / (Loss) from
ordinary activties after finance cost but before exceptional Items (5-6) |
6270.600 |
7400.900 |
28026.200 |
||
|
8 |
Exceptional Items |
|
|
5741.200 |
||
|
9 |
Profit / (Loss)
from ordinary activities before tax (7-8) |
6270.600 |
7400.900 |
22285.000 |
||
|
10 |
Tax expense |
1496.100 |
2196.200 |
6359.500 |
||
|
11 |
Net Profit / (Loss)
from ordinary activities after tax (9-10) |
4774.500 |
5204.700 |
15925.500 |
||
|
12 |
Extraordinary item |
|
|
|
||
|
13 |
Net Profit/ (Loss)
for the period (11-12) |
4774.500 |
5204.700 |
15925.500 |
||
|
14 |
Share of profit / (loss) of associates |
|
|
|
||
|
15 |
Minority interest |
|
|
|
||
|
16 |
Other Related Items |
|
|
|
||
|
17 |
Net Profit / (Loss)
after taxes, minority interest and shares of profit / (loss) of associates
(13+14+15+16) |
4774.500 |
5204.700 |
15925.500 |
||
|
18 |
Cash Profit |
8168.300 |
8139.200 |
27881.600 |
||
|
19 |
Paid up equity share capital (Face Value Re. 1/- per share) |
934.800 |
934.800 |
934.800 |
||
|
20 |
Paid Up Debt Capital of the Company* |
|
|
16620.000 |
||
|
21 |
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year |
|
|
122545.900 |
||
|
22 |
Debenture Redemption Reserve |
|
|
2540.000 |
||
|
23 .i |
Earnings Per Share
(EPS) (before Extraordinary items) (of Re. 1/- each) (not annualised): |
|
|
|
||
|
|
a) |
Basic |
5.11 |
5.57 |
17.04 |
|
|
|
b) |
Diluted |
5.11 |
5.57 |
17.04 |
|
|
23.ii |
Earnings Per Share (EPS)
(after Extraordinary items) (of Re. 1/- each) (not annualised): |
|
|
|
||
|
|
a) |
Basic |
5.11 |
5.57 |
22.58 |
|
|
|
b) |
Diluted |
5.11 |
5.57 |
22.58 |
|
|
24 |
Debt Equity Ratio** |
|
|
1.66 |
||
|
25 |
Debt Equity Service Ratio*** |
|
|
1.65 |
||
|
26 |
Interest Service Covderage Ratio**** |
|
|
4.04 |
||
|
|
|
|
|
|
||
|
1 |
PARTICULARS OF
SHARESHOLDING |
|
|
|
||
|
|
Public shareholding |
|
|
|
||
|
|
- Number of shares |
382,584,970 |
383,070,196 |
382,584,970 |
||
|
|
- Percentage of shareholding |
40.93 |
40.98 |
40.93 |
||
|
2 |
|
Promoters and
promoter group Shareholding |
|
|
|
|
|
|
a) |
Pledged/Encumbered |
|
|
|
|
|
|
|
- Number of shares |
46,448 |
46,448 |
46,448 |
|
|
|
|
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
0.01 |
0.01 |
0.01 |
|
|
|
|
- Percentage of shares (as a% of the total share capital of the company) |
0.00 |
0.00 |
0.00 |
|
|
|
b) |
Non-encumbered |
|
|
|
|
|
|
|
- Number of Shares |
552,202,400 |
551,717,174 |
552,202,400 |
|
|
|
|
- Percentage of shares (as a% of the total shareholding of promoter and promoter group) |
99.99 |
99.99 |
99.99 |
|
|
|
|
- Percentage of shares (as a % of the total share capital of the company) |
59.07 |
59.02 |
59.07 |
|
|
|
|
|
|
|
||
|
B |
INVESTOR COMPLAINTS |
|
|
|
||
|
|
Pending at the beginning of the quarter |
1 |
|
|
||
|
|
Received during the quarter |
12 |
|
|
||
|
|
Disposed of during the quarter |
13 |
|
|
||
|
|
Remaining unresolved at the end of the quarter |
0 |
|
|
||
SEGMENT WISE
REPORTING OF REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE FINANCIAL YEAR ENDED
ON 31st MARCH, 2013
|
Sr. No.: |
Particulars |
31st March, 2013 # |
31st December, 2012 |
31st March, 2013 |
|
1 |
Segment Revenue |
|
|
|
|
|
a) Iron & Steel |
40321.600 |
35707.800 |
139684.300 |
|
|
b) Power |
5507.800 |
5636.000 |
22555.900 |
|
|
c) Others |
796.800 |
899.200 |
3479.200 |
|
|
Sub Total |
46626.200 |
42243.000 |
165719.400 |
|
|
Less: Inter-segment Revenue |
4489.200 |
4033.600 |
16172.400 |
|
|
Net Sales/Income
from Operations |
42137.000 |
38209.400 |
149547.000 |
|
2 |
Segment Results |
- |
|
|
|
|
(Profit(+)/Loss(-) before Tax and interest from each segment) |
|
|
|
|
|
a) Iron & Steel |
6522.900 |
8467.900 |
32311.000 |
|
|
b) Power |
2108.600 |
2235.100 |
8983.000 |
|
|
c) Others |
141.500 |
107.600 |
371.000 |
|
|
Sub Total |
8773.000 |
10810.600 |
41665.000 |
|
|
Less : Interest |
2368.700 |
2875.700 |
9209.000 |
|
|
Other un-allocable expenditure (net off Un-allocable income) |
133.700 |
534.000 |
4429.800 |
|
|
Exceptional Items |
- |
|
5741.200 |
|
|
Total Profit Before Tax |
6270.600 |
7400.900 |
22285.000 |
|
3 |
Capital Employed |
- |
|
|
|
|
(Segment Assets -
Segment Liabilities) |
|
|
|
|
|
a) Iron & Steel |
115217.200 |
102569.500 |
115217.200 |
|
|
b) Power |
57062.700 |
56064.000 |
57062.700 |
|
|
c) Others |
5453.300 |
5548.300 |
5453.300 |
|
|
Total Segment
Capital Employed |
177733.200 |
164181.800 |
177733.200 |
STANDALONE STATEMENT
OF ASSETS AND LIABILITIES
|
PARTICULARS |
Audited Standalone f 31st March, 2013 |
|
A EQUITY AND
LIABILITIES |
|
|
1 Shareholders
Funds |
|
|
a) Share Capital |
934.800 |
|
b) Reserves & Surplus |
122545.900 |
|
Sub-total-
Sharesholders' funds |
123480.700 |
|
2 Share application money pending allotment |
|
|
3 Minority Interest |
|
|
4 Non- Current
Liabilities |
|
|
a) Long-term borrowings |
118609.200 |
|
b) Deferred Tax-liabilities (net) |
12149.600 |
|
c) Other long-term liablities |
5605.800 |
|
d) Long-term provisions |
209.400 |
|
Sub-total-Non-current
liabilities |
136574.000 |
|
5 Current
liabilities |
|
|
a) Short-term borrowings |
76400.200 |
|
b) Trade payables |
6282.000 |
|
c) Other current liablities |
25843.900 |
|
d) Short-term provisions |
29518.500 |
|
Sub-total-current
liabilities |
138044.600 |
|
TOTAL-EQUITY AND
LIABILITIES |
398099.300 |
|
B ASSETS |
|
|
Non -current assets |
|
|
a) Fixed assets |
256401.300 |
|
b) Goodwill on consolidation |
- |
|
c) Non -current investments |
13307.200 |
|
d) Long-term loans and advances |
12254.600 |
|
e) Other non -current assets |
5.500 |
|
Sub-total-Non-current
assets |
281968.600 |
|
2 Current Assets |
|
|
a) Inventories |
35985.200 |
|
b) Trade receivables |
14261.300 |
|
c) Cash and cash equivalents |
367.700 |
|
d) Short-term loans and advances |
59435.400 |
|
e) Other current assets |
6081.100 |
|
Sub-total-current
assets |
116130.700 |
|
TOTAL-ASSETS |
398099.300 |
Note:
# The figures of last quarter ended on 31.03.2013 are the balancing figures between audited figures in respect of the full financial year ended on 31.03.2013 and published year to date (nine months) figures upto the third quarter ended on 31.12.2012.
1. The Board of Directors has recommended dividend of Rs 1.60 per equity of Re. 1/- each (160 %).
2. Jindal Power Limited (JPL), a subsidiary company, declared an interim dividend of 10%. JPL has informed JSPL that this interim dividend is to be treated as final dividend for the year ending March 31, 2013. Our share works out to Rs 1300.500 Millions (Previous year Rs. 1300.500 Millions) which is included in other income.
3. Consolidated Profit for the Quarter ended 31.03.2013, includes Net Profit of Rs. 2822.400 Millions from Jindal Power Limited, (Previous Year Rs. 4213.800 Millions).
4. The above audited results were reviewed by the Audit Committee and have been taken on record by the Board of Directors in their meeting held on 25.04.2013.
5. The above results have been audited by auditors as per clause 41 of the listing agreement.
6. Previous quarter/period figures have been regrouped and reclassified to make them comparable.
* Paid up Debt Capital represents Non-Convertible Debentures
** Debt Equity Ratio: Net Debt / Net Worth
(Net Debt: Secured Loan + Unsecured Loan - Cash & Bank - Current Investments)
(Net Worth: Equity Share Capital + Reserves & Surplus - Miscellaneous Expenditure to the extent not written off or adjusted - Foreign Currency Translation Reserve)
*** Debt Service Coverage Ratio: EBIT / (Net Finance Charges + Principal repayment during the Period)
(EBIT: Profit Before Taxes + Net Finance Charges)
**** Interest Service Coverage Ratio: EBIT / Net Finance Charges
FIXED ASSETS:
- Land Freehold
- Land Leasehold
- Live Stock
- Buildings
- Plant and Equipment
- Electrical Fittings
- Furniture and Fixtures
- Vehicles
- Air Craft
- Office equipment
AS PER WEBSITE DETAILS
PRESS RELEASE:
JINDAL STEEL TO
INVEST $500M IN CAMEROON PROJECTS
Jindal Steel and Power (JNSP.NS) will invest around $500 million in Cameroon to build a power plant, a railway line and an iron ore processing plant, Cameroon's state radio reported, citing the country's mines ministry.
The 500 MW thermal power station will be built in the southwestern town of Limbe, while the rail line will run between the coastal city of Kribi and Perth-based Sundance Resources Ltd.'s (SDL.AX) iron ore project in Mbalam in the east.
"Jindal Steel and Power will invest nearly $500 million... in the beginning. Afterward, other investment projects... could also follow," state broadcaster CRTV reported late on Wednesday, quoting a mines ministry statement.
Jindal is also in talks with Caminex SARL, a unit of Toronto and AIM-listed Afferro Mining (AFF.V), to process ore from its Nkout iron ore project at the Kribi plant, the radio reported.
Jindal's chairman Naveen Jindal met with Cameroon's President Paul Biya on Tuesday.
"We feel that Cameroon offers lots of investment opportunities especially in the areas of mineral development, infrastructure development and power generation," he told journalists following the meeting.
"We feel very encouraged, we feel very confident of investing in Cameroon," he said.
New Delhi-based Jindal Steel and Power is part of the $18 billion diversified O.P. Jindal Group.
In India, it currently operates power plants with a total capacity of 2,298 MW as well as a steel plant with annual production capacity of 3 million tonnes.
In Africa, it holds coal mining licences in South Africa and Mozambique.
JINDAL TO EXPAND
STEEL OUTPUT, BUY MINES IN WEST AFRICA
Mid-sized producer Jindal Steel and Power (JNSP.NS) hopes to quadruple steel output by 2016 to cash in on an infrastructure boom in the world's second most populous country and is also in talks to buy mining assets in West Africa.
V. R. Sharma, head of steel operations at one of India's largest producers, told Reuters he was targeting a rise in output to 16 million tonnes per year by 2016 from 4 million now thanks to new steelmaking plants in India and Oman.
This would make them one of the top-30 largest producers worldwide, based on current figures, and compares with the 88 million tonnes churned out by sector leader Arcelor Mittal in 2012.
The steel industry worldwide has taken a hammering since 2008, and steel prices have been weakening since the beginning of the year .IOLA-CNI=SI. Jindal's consolidated net profit fell 35 percent to 7.6 billion Indian rupees in the first three months of 2013.
Sharma said that for Indian producers the global weakness would be countered by the $1 trillion in infrastructure investment planned by the Indian government over the next four years.
"The whole world is in a turmoil but I think India needs not to worry because whatever we produce is sellable," Sharma said.
"There has definitely been pressure on profits but there are profits. Still Indian companies are not in red, they are in black so I think things will pick up in the next two or three quarters...with the infrastructure projects, which the government has already declared, things must look better."
Steel consumption in India rose by 2.5 percent in 2012 but growth is expected to accelerate, to 5.9 percent in 2013 and to 7.0 percent in 2014, according to the World Steel Association, as monetary easing supports investment.
Jindal, which has an annual turnover of $3.5 billion, pulled out of talks to invest in a Cameroon mine owned by iron ore producer Afferro Mining Inc <AFF.V AFFA.L> in February, but it is still looking to invest in mining in Africa.
It is looking at pelletising in Mauritania and is in talks to buy mining assets in Liberia and Namibia, Sharma said.
"We are looking for more mines in West Africa and I am sure we should be concluding something in the next 3-4 months time. The Affero deal didn't work but we are now working with another company," he said.
Jindal is also planning construction of a power plant in Botswana and in Mozambique, where it already owns coal assets.
JSPL MAY START COAL
SUPPLY FROM MOZAMBIQUE MINE NEXT QUARTER
NEW DELHI, DEC 11:
Jindal Steel and Power (JSPL) today said it expects to start supplying coal from its Mozambique mine early next year.
“We were scouting for mines in Mozambique five to six years ago. We have also started to mine there. Now we hope that in the next quarter we will also dispatch some coal from there,” JSPL Chairman and Managing Director Naveen Jindal told reporters on the sidelines of a function.
Jindal also said that the Company was looking at opportunities in coal mining and power sector in regions like Western Africa.
“We keep on visiting countries for business opportunities in mining (coal), in power. So in that we are also looking at Western Africa. There are many countries....Nothing has firmed up yet,” he said.
The Company had earlier, said that it would source coal from the Mozambique mine to feed its projects here in the country.
The Mozambique mine is strategically important for the Naveen Jindal-led firm as it contains both coking and thermal coal.
The Company, which has plans to produce 10 million tonnes per annum (MTPA) coal from the mine at peak level, is also looking to set up a 2,640 MW thermal power plant in the African nation.
The Company has earlier said that it is also planning to set up a coal washery in Mozambique by the fiscal-end, to reduce the high ash content from the mine there.
JSPL, which currently has a steel making capacity of 3 million tonnes per year (MTPA) and power generation capacity of nearly 2,500 MW, is aiming at having 20 MTPA steel making capacity by 2020 and power generation capacity of over 21,000 MW (together with its subsidiary Jindal Power) during the period.
Earlier, JSPL has acquired Canada’s CIC Energy, which has 2.6 billion tonne of high quality thermal coal mines in Botswana, for over Rs 6000.000 Millions as part of its aim to ensure fuel security.
Besides Mozambique and Botswana, the Company also has coal mines in Australia, Indonesia and South Africa.
JINDAL STEEL AND POWER ACQUIRES CIC’S ENERGY ASSETS OF 6 BN TONNE COAL
RESOURCES IN
BOTSWANA
• JSPL’ss acquisition of CIC Energy is worth Rs 6000.000 Millions.
• The acquisition will give JSPL access to CIC’s high quality thermal coal resources in SE Botswana
• The Minister of Minerals, Energy and Water Resources of Botswana has already approved the change of control from CIC to JBVI.
New Delhi, September 05, 2012: Jindal BVI Limited (JBVI), a subsidiary of steel major Jindal Steel and Power Limited (JSPL) has acquired Canadian listed coal Company CIC Energy Corp. (CIC) for about US$115 million (over Rs 6000.000 Millions) by way of a merger of JBVI and CIC.
The Minister of Minerals, Energy and Water Resources of Botswana where CIC has its coal mines, has already approved the change of control from CIC to JBVI and all other approvals for the merger have already been granted and the merger certificate will be issued in the next few days marking the completion of the acquisition.
The deal will provide JSPL access to CIC’s high quality thermal coal in Greater Mmamabula coalfield in SE Botswana which is estimated to be in excess of 6 billion tonnes (approx) (including Measured and Indicated resource of 2.4bn Tonnes).
The deal will provide JSPL the opportunity to tap the highly lucrative and power deficient South African Development Community (SADC) countries and given the huge resource, will also provide an opportunity to set up a Coal to Hydrocarbons project.
Speaking on the occasions, JSPL’s Director and Group CFO, Mr. Sushil Maroo said, “This is another step in the direction of backward integration as the coal assets will give the company self-sufficiency when it comes to dependency on natural resources. This will enable JSPL in becoming a more self-reliant and fuel secure enterprise.”
Pursuant to the merger of JBVI and CIC, JBVI, being the surviving company, will make cash payment of C$ 2 per share to the current CIC shareholders aggregating to C$ 116 Mn approx. JBVI has already transferred the consideration amount to the depository for onward payment to CIC shareholders.
CIC has already been granted water allocation for the mining and power plants and has also received the environmental approvals for its power projects. CIC has done extensive drilling in its coalfields and has drilled approx. 2100 boreholes totaling about 186000 meters. CIC has already incurred development expenditure of C$ 246 Mn on the projects including the manpower costs and overheads. The ROM coal quality has ash ranging from 23% to 42% and the Gross Calorific value ranges from 3700 to 5500. The total area of the mines is 315 sq km approx.
CIC is the frontrunner for building a 1200 MW power plant in Botswana for supply of power to South Africa.
JSPL, together with Jindal Power limited, has chalked out an ambitious target of having more than 25,000 MW electricity generation capacity by 2020 and in the long run, the deal would potentially provide the company a long-term source of coal. JSPL already has acquired stakes in coal mines in South Africa, Mozambique, Australia and
Indonesia.
JSPL ANNOUNCES THE
COMMERCIAL PRODUCTION OF INDIAS WIDEST 5.0 METER WIDE PLATE MILL PRODUCTION AT
ANGUL INTEGRATED STEEL PLANT IN AUGUST 2012
New Delhi, August 28, 2012:Jindal Steel and Power Limited (JSPL) proudly announcesthe commercial production of India’s widest 5.0 Meter Wide Plate mill in Angul, Odisha which is a part of the planned first phase 6.0 million MT per annum integrated steel plant at Angul, Odisha .This Plate Mill has an annual capacity of 2 MTPA. The company is targeting to produce 15,000 MT in the next month and then increase the production gradually.
This 5 Meter Wide Plate Mill at Angul is a part of the Company’s forward integration process of completing the process chain to produce value‐added finished discrete plates. The technology and equipments is supplied by Siemens VAI UK and capable of rolling wide width range and steel grades like structural , boiler Quality ,Shipbuilding and Pipeline Plates up to X‐80Grades.
The plate mill is equipped with walking beam type of Reheating furnace technology supplied by Fives Stein France with level 2 automation, SVAI patent MULPIC cooling system, hot leveler and GE GMBH online Ultrasonic Testing facility for excellent plates surface quality and close dimensional tolerances and flatness control.
In another positive development for the integrated steel plant, BSI (British Standards Institution) has certified 5.0 Meter Wide Plate Mill for Integrated Management System (ISO 9001, ISO14001 and OHSAS 18001) Certification.
The plate mill is a part of integrated steel complex and being set up along with 1.6 MTPA Steel Melting Shop at a combined project cost of Rs. 49230.000 Millions. SMS is likely to be commission towards the end of FY 2013. This project has been funded on 2 : 1 debt equity and debt of Rs. 32820.000 Millions has been funded by consortium of Indian Banks with largest loan given by SBI, PNB, Vijaya Bank and others.
The plate has a market in Oil and Gas sector, Water Pipeline sector, Shipping sector, Infrastructure and Power Equipment Manufacturing etc
JINDAL STEEL AND POWER LIMITED
Jindal Steel Bolivia – a subsidiary of Jindal Steel and Power Limited (JSPL) has sent a letter to Govt. of Bolivia on 08‐06‐2012 conveying its intension to terminate the contract for investment of US $ 2.1 billion – largest foreign investment in Bolivia, due to non fulfillment of the contractual obligations on the part of Govt. of Bolivia. The details are given below:
Jindal Steel and Power Limited (JSPL) had signed a Contract with Government of Bolivia in the year 2007 for investing US $ 2.1 Billion in Iron Ore Mining, Pelletization (10 million ton per annum),DRI (6million ton per annum) and Steelmaking (1.7million ton per annum) with investment of US $ 2.1 billion in Bolivia. This was the single largest foreign investment in Bolivia.
JSPL had set up offices and deployed manpower soon after entering into contract in 2007 and started developing the project. JSPL has made investment of more than US $90 Million on this project and has made investment commitments exceeding US $ 600 million till March 2012 for purchase of technology, machinery and other equipment and advances to vendors.
As per the contract, Govt. of Bolivia was to sign an agreement for supply of natural gas required for the project ‐ 10 million cubic meter per day (MCD) within 180 days of signing of the contract. The same has not been signed till date. Govt. of Bolivia is now willing to commit only 2.5 MCD of gas (as against total requirement of 10 MCD) from 2014 onwards due to non availability of gas in the country, whereas company is being asked to make investment as per capacities originally envisaged under the Joint Venture Contract.
Also Govt. of Bolivia did not provide substantial land for the project until 2010 and therefore work on the project could not start early. Even now, till date, full land required for the project has not been provided by the Bolivian Govt.
From the above, it will be quite clear that Govt. of Bolivia has not fulfilled the obligations as per the contract.
On the other hand, Govt. of Bolivia encashed Bank Guarantee of US$ 18million in March2010 and Bank Guarantee of US $ 18 million on 1st May 2012 on flimsy and legally untenable grounds. On the one hand Govt. of Bolivia wants billion of dollars of investment in the country, on the other hand they had gone and encashed the bank guarantee twice of US $ 18 million each. That shows the Govt. of Bolivia wants to kill the goose which lays the golden eggs.
There is a strong sentiment amount the people of Bolivia that Jindal should stay in Bolivia and invest. After watching recent interview of our CMD Mr. Naveen Jindal on a Leading TV channel of Bolivia, 91% of the people surveyed wanted that Govt. of Bolivia should not allow JSPL to leave the country.
As per terms of Joint Venture Contract, we have served our intent to terminate the contract
on 08‐06‐2012 and Govt. of Bolivia has 30 days time to resolve the issues failing which JSPL can terminate the contract within 7 days thereafter. In case Govt. of Bolivia comes out clean and informs as to how much gas it can actually supply and agrees to reconfigure plant capacity and investment and amend the contract JSPL can consider staying back and continue investing in Bolivia.
April 25, 2013
1. Statements
JSPL, notwithstanding a global economic slowdown and subdued steel market, maintained a double digit growth in theirsteel business. The Company with their relentless commitment to operational excellence achieved 100% utilization of steel and pelletisation capacity. Several new countries and customers were added to expand the market base of JSPL. New sources of raw material were established and made operational. The Company, which hitherto focused mainly on B to B business, made an impressive foray into the retail market for its standard products. The Company also reorganized its operations to bring more focus on individual Business Segments and Business Units. Specific attention has been paid to strengthen the internal process and systems. As the Organisation steps into 2013‐14, it is ready and well poised for an orbital jump to a much larger volume of activity as envisaged in the company’s Vision 2020 plan.
2. Highlights
- JSPL achieves 100% Liquid Steel Capacity
- Production of steel during FY 12‐13 is 11% more than FY 11‐12
- Sales in FY 12‐13 is higher by 12.2% (by value) as compared to FY 11‐12
- Sales of 9.7 lac MT inQ4 of FY 12‐13 higher by 22%
- Pellet production reaches full capacity
- Exports increase by 30% (by value)in FY 12‐13 as compared to FY 11‐12
- “Year end” inventory at same level as on “Year opening”
- Impressive gain in market share particularly in Long products segment
- Number of customers increased from 2139 in FY 11‐12 to 2758 in FY 12‐13
- Production of Oman HBI plant increased by 22% during FY 12‐13 (1.52/1.24)
- Production of Coking coal started in Mozambique
- JSPL all setto increase steel capacity from 3.5 MTPA to 7.0 MTPA in 2013‐14
- JSPL’s power production capacity would double during 2013‐14 i.e. From 2,434 MW to 4,969 MW
- JSPL forays in retail segment. 15 distributors appointed to kick off channel sales. Country wide coverage by June 30
3. Audited Financial Results ‐ Standalone
a) For the financial year 2012‐13
‐ Income from operation up by 12 % to Rs. 149547.000 Millions (Rs. 133339.500 Millions)*
‐ EBITDA level continue to be 30% +
‐ Net Profit before exceptional items down by 4% to Rs. 21666.700 Millions (Rs. 22584.000 Millions)
- Net Profit after exceptional item is Rs. 15925.500 Millions (Rs. 21106.500 Millions)*
b) For the quarter
ending 31st March, 2013
- Income from operation marginally up by 1% to Rs. 4,213.70 Cr (Rs. 4,174.02 Cr)*
- Net Profit down by 39% to Rs. 4774.500 Millions (Rs. 7836.200 Millions)*
Final Dividend 160% @
Rs. 1.60 for each shares of Re.1 for the year
*figures in brackets are for 4th quarter of the financial year 2012‐13
Record export sale of Rs.192.700 Millions during the year as compared to Rs. 149.900 Millions during the previous year
Audited Financial Results‐ Consolidated
c) For the financial year 2012‐13
- Income from Operation up by 9 % to Rs. 198067.800 Millions (Rs. 182086.000 Millions)*
‐ #Net Profit before exceptional item is down up by 14 % at Rs. 34857.400 Millions (Rs. 4050.900 Millions)*
‐ #Net Profit after exceptional item is Rs. 29116.200 Millions (Rs. 40022.600 Millions)*
d) For the quarter ending 31st March, 2013
‐ Income from Operation is up by 3% to Rs. 56484.400 Millions (Rs. 54823.300 Millions)*
‐ #Net Profit down by 35% at Rs. 7527.500 Millions (Rs. 11615.300 Millions)*
*Figures in brackets are for the financial year 2011‐12 #Net Profit is after tax but before minority interest and share of Profit/(Loss) of Associates.
4. Sales – JSPL Standalone
Details of sales for the quarter and the financial year ended March 31, 2013 with the corresponding quarter and year in the previous financial year are as under:
For the Quarter IV ended March 31, 2013:
|
Product(MT) |
Quarter IV |
Growth (%) |
|
|
2012‐13 |
2011‐12 |
||
|
Steel Products## |
908,736 |
736,838 |
23 % |
|
Pellets |
657,722 |
690,566 |
(5%) |
|
Power(million kWh) |
517 |
557 |
(7%) |
For the Financial year 2012‐2013:
|
Product(MT) |
Year |
Growth (%) |
|
|
2012‐13 |
2011‐12 |
||
|
Steel Products## |
2,849,164 |
2,385,224 |
19 % |
|
Pellets |
2,112,158 |
2,028,330 |
4% |
|
Power(million kWh) |
2,215 |
1,446 |
53% |
##Slabs/ Bloom/ Billets/ Structural and Rails/ Universal Plate/ Coil/
Converted Angle/ Channel/ Wire Rod/ TMT/ Fabricated Beams/ Plates
5. Production JSPL Standalone
JSPL has shown increase in production of all
its major products. Details of growth in production for the quarter and year
ended March 31, 2013 with the corresponding quarter and year in the previous
financial year are as under:
For the Quarter IV ended March 31, 2013:
|
Product(MT) |
Quarter IV |
Growth (%) |
|
|
2012‐13 |
2011‐12 |
||
|
Steel Products* |
791,236 |
762,691 |
4 % |
|
Pellets |
1,038,290 |
1,071,770 |
(3%) |
|
Power(million kWh) |
1,477 |
1,417 |
4 % |
For the Financial year 2012‐13:
|
Product(MT) |
Year |
Growth (%) |
|
|
2012‐13 |
2011‐12 |
||
|
Steel Products* |
3,022,041 |
2,756,601 |
10 % |
|
Pellets |
4,042,025 |
3,736,915 |
8 % |
|
Power(million kWh) |
5,973 |
4,630 |
29 % |
6. Jindal Power Limited –Quarter IV and financial Year 2012‐13.
Consolidated audited financial results of quarter ended March 31, 2013 include financial results of Jindal Power Limited, a subsidiary of the Company, as under:‐
For the Quarter IV
ended March 31, 2013
- Income from Operation :Rs. 6365.900 Millions
- Net Profit :Rs. 2822.400 Millions
- Power Generation :2,149.46
million units
- PLF :99.51%
For the Financial
year 2012‐13
- Income from Operation :Rs. 2,5096.600 Millions
- Net Profit :Rs. 11129.700 Millions
- Power Generation :7,972.53
million units
- PLF : 91.01%
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 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.57.78 |
|
|
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
76 |
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.