MIRA INFORM REPORT
|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
STERLITE TECHNOLOGIES LIMITED (w.e.f. 14.07.2007) |
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Formerly Known
As : |
STERLITE OPTICAL TECHNOLOGIES LIMITED |
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Registered
Office : |
Survey No. 68 / 1, Rakholi Village, Madhuban Dam Road, Silvassa – 396 230, Dadra and Nagar Haveli |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
24.03.2000 |
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Com. Reg. No.: |
54-000340 |
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Capital
Investment / Paid-up Capital : |
Rs.786.900 Millions |
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CIN No.: [Company Identification
No.] |
L31300DN2000PLC000340 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS01199C |
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PAN No.: [Permanent Account No.] |
AAECS8719B |
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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
: |
The company is primarily engaged in the manufacture and sale of Power and Telecom products and solutions. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 47310000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Twin Star Overseas Limited, Mauritius. Subject is well established company having a fine track record. The company
has achieved better growth in its revenue and profits during 2013. Networth of the company appears to be satisfactory. Trade relations
are reported as fair. Business is active. Payment are reported to be regular
and as per commitments. The company can be considered good for business dealing at regular
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ajit |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-66235700 |
|
Date : |
11.09.2013 |
LOCATIONS
|
Registered Office/Factory 1 : |
Survey No. 68 / 1, Rakholi Village, Madhuban Dam Road, Silvassa – 396 230, Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-6612000 |
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Fax No.: |
91-260-6612013 |
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E-Mail : |
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Website : |
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Corporate Office : |
4th Floor Godrej Millenium 9, |
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Tel. No.: |
91-20-30514000/ 66235700 |
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Fax No.: |
91-20-26138083 |
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E-Mail : |
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Factory 2 : |
Optical Fiber, E2, E3, MIDC, Waluj, Aurangabad-431136, |
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Tel. No.: |
91-240-2564599 |
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Fax No.: |
91-240-2564598 |
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Factory 3 : |
Optical Fiber, AL-23, Shendra MIDC SEZ, |
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Tel. No.: |
91-240-2622020 |
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Fax No.: |
91-240-2564598 |
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Factory 4 : |
Copper Telecom Cables and Structured Data Cables, Survey No. 33 / 1 /
1, |
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Tel. No.: |
91-260-6452959 |
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Fax No.: |
91-260-6612122 |
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Factory 5 : |
Power Transmission Conductors, Survey No. 99, Rakholi Village, Madhuban
Dam Road, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India |
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Tel. No.: |
91-260-6612200 |
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Fax No.: |
91-260-6612260 |
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Factory 6: |
Plot 2D, Sector 10, IIE SIDCUL, Haridwar – 249403, |
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Tel. No.: |
91-1334-239463 |
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Fax No.: |
91-1334-239375 |
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Factory 7: |
Burkhamunda, Jharsuguda - 768 202, |
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Factory 8 : |
Power Cables, No. 5, Vardhaman Industrial Estate, Haridwar – 249 402, |
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Sales, Marketing and Representative Offices: |
Located at: ·
· India ·
·
·
·
·
·
·
·
Vietnam |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Anil Agarwal |
|
Designation : |
Non - Executive Chairman |
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Date of Birth/Age : |
16.06.1957 |
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|
Name : |
Mr. Arun Todarwal |
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Designation : |
Non – Executive and Independent Director |
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|
Name : |
Mr. A. R. Narayanaswamy |
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Designation : |
Non – Executive and Independent Director |
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Date of Birth/Age : |
22.12.1951 |
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|
|
Name : |
Mr. Haigreve Khaitan |
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Designation : |
Non – Executive and Independent Director |
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|
Name : |
Mr. Pravin Agarwal |
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Designation : |
Whole Time Director |
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16.10.1954 |
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Name : |
Mr. Anand Agarwal |
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Designation : |
Chief Executive Officer and Whole Time Director |
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Date of Birth/Age : |
07.08.1967 |
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|
Name : |
Mr.
C V Krishnan |
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Designation : |
Director
|
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|
Name : |
Mr.
Pratik Agarwal |
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Designation : |
Director
|
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|
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|
Name : |
Mr. Pravin
Agarwal |
|
Designation : |
Whole-time
Director |
KEY EXECUTIVES
|
Name : |
Mr. Anupam Jindal |
|
Designation : |
Chief Financial Officer |
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|
|
|
Name : |
Mr. Sandeep Deshmukh |
|
Designation : |
Company Secretary |
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|
Name : |
Mr. K. S. Rao |
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Designation : |
Chief Operating Officer (Telecom) |
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|
Name : |
Mr. Rajendra Mishra |
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Designation : |
Vice President – Strategic Business Initiatives and Head
Power Cables Business |
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Name : |
Mr. Vijay Jain |
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Designation : |
Chief Operating Officer – Networks Business |
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Name : |
Mr. Pratik Agarwal |
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Designation : |
Head – Infrastructure Business |
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Name : |
Mr. Prasanth Puliakottu |
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Designation : |
Chief Information Officer |
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Name : |
Mr. Pankaj Priyadarshi |
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Designation : |
CCO |
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Name : |
Mr. Ajay Bhardwaj |
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Designation : |
Chief Operating Officer – Grid Business |
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Name : |
Mr. Kamal Sehgal |
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Designation : |
Leader – Business Excellence |
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|
Name : |
Mr. Vimal Malhotra |
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Designation : |
Head – Human Resources |
SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category of Shareholder |
No. of Shares |
% of No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1051611 |
0.27 |
|
|
4764295 |
1.21 |
|
|
5815906 |
1.48 |
|
|
|
|
|
|
209402750 |
53.21 |
|
|
209402750 |
53.21 |
|
Total shareholding of Promoter and Promoter Group (A) |
215218656 |
54.69 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
10980108 |
2.79 |
|
|
21746686 |
5.53 |
|
|
500 |
0.00 |
|
|
914737 |
0.23 |
|
|
5953255 |
1.51 |
|
|
39595286 |
10.06 |
|
|
|
|
|
|
20504371 |
5.21 |
|
|
|
|
|
|
89581306 |
22.76 |
|
|
23404368 |
5.95 |
|
|
5216112 |
1.33 |
|
|
4648057 |
1.18 |
|
|
13700 |
0.00 |
|
|
6705 |
0.00 |
|
|
180785 |
0.05 |
|
|
85550 |
0.02 |
|
|
189765 |
0.05 |
|
|
91550 |
0.02 |
|
|
138706157 |
35.25 |
|
Total Public shareholding (B) |
178301443 |
45.31 |
|
Total (A)+(B) |
393520099 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
393520099 |
0.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons belonging
to the category Promoter and Promoter Group
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
As a % of grand
total |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
1 |
Twin Star Overseas Limited |
20,94,02,750 |
53.21 |
53.21 |
|
2 |
Sterlite Industries (I) Limited |
42,61,850 |
1.08 |
1.08 |
|
3 |
Madras Aluminium Company Limited |
5,02,445 |
0.13 |
0.13 |
|
4 |
Navin Kumar Agarwal |
4,30,000 |
0.11 |
0.11 |
|
5 |
Ankit Agarwal |
3,44,471 |
0.09 |
0.09 |
|
6 |
Pratik Agarwal |
1,81,140 |
0.05 |
0.05 |
|
7 |
Jyoti Pravin Agarwal |
50,000 |
0.01 |
0.01 |
|
8 |
Pravin Agarwal |
30,000 |
0.01 |
0.01 |
|
9 |
Ruchira Agarwal |
16,000 |
0.00 |
0.00 |
|
|
Total |
21,52,18,656 |
54.69 |
54.69 |
(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.
Shareholding of securities
(including shares, warrants, convertible securities) of persons belonging to
the category Public and holding more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total
No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
|
|
|
|
|
1 |
Life Insurance Corporation of India |
21282975 |
5.41 |
5.41 |
|
2 |
Reliance Capital Trustee Co Limited A/c Reliance Diversified Power Sector Fund |
10953320 |
2.78 |
2.78 |
|
|
Total |
32236295 |
8.19 |
8.19 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons (together
with PAC) belonging to the category “Public” and holding more than 5% of the
total number of shares of the company
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of Total
No. of Shares |
|
|
|
|
|
|
1 |
Life Insurance Corporation of India |
21282975 |
5.41 |
|
|
Total |
21282975 |
5.41 |
Details of Locked-in
Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as
% of |
|
1 |
Twin Star Overseas Limited |
3,65,00,000 |
9.28 |
|
|
Total |
3,65,00,000 |
9.28 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in the manufacture and
sale of Power and Telecom products and solutions. |
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Products : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Power Transmission Line – Distribution
Conductor ** |
MT |
N.A. |
160000 |
|
Copper Telecom Cables |
CKM |
9500000 |
2828400 |
|
Fiber Optic cables* |
FKM |
5309059 |
4500000 |
|
Optical Fiber |
KM |
12000000 |
12000000 |
|
Broadband Access Networks |
NOS. |
1500000 |
1000000 |
* Based on Average Fibre KM.
** N.A. – Delicenced vide notification no. 477 (E)
Dated 27th July, 1991.
|
Particulars (including for captive
consumption) |
Unit |
Actual
Production |
|
Copper Telecom Cables |
CKM |
720524 |
|
Fiber Optic cables |
FKM |
3775878 |
|
Optical Fibre* |
KM |
9130523 |
|
Power Transmission Line –
Distribution Conductor (AAC/ACSR) ** |
MT |
125530 |
* It includes 3,742,671 KM (2,906,150 KM) produced
for captive consumption
** Current Year 140,952 KM (129,036 KM)
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
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Holding Company : |
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Ultimate Holding Company : |
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Subsidiaries : |
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Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000000 |
Equity Shares |
Rs.2/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
393439135 |
Equity Shares |
Rs.2/- each |
Rs. 786.900
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
786.900 |
786.500 |
712.800 |
|
(b) Reserves & Surplus |
11043.000 |
10702.300 |
9375.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
271.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.200 |
|
Total
Shareholders’ Funds (1) + (2) |
11829.900 |
11488.800 |
10359.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2066.800 |
0.000 |
1.400 |
|
(b) Deferred tax liabilities (Net) |
872.100 |
735.200 |
660.100 |
|
(c) Trade Payables |
15.900 |
194.200 |
320.700 |
|
(d) long-term
provisions |
153.100 |
397.100 |
133.500 |
|
Total Non-current
Liabilities (3) |
3107.900 |
1326.500 |
1115.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
8323.500 |
6643.700 |
6195.800 |
|
(b) Trade
payables |
6192.500 |
5211.700 |
4248.900 |
|
(c) Other
current liabilities |
3238.400 |
3142.700 |
2988.800 |
|
(d) Short-term
provisions |
172.300 |
151.700 |
232.300 |
|
Total Current
Liabilities (4) |
17926.700 |
15149.800 |
13665.800 |
|
|
|
|
|
|
TOTAL |
32864.500 |
27965.100 |
25140.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9934.900 |
9530.100 |
6981.800 |
|
(ii)
Intangible Assets |
77.600 |
59.500 |
79.900 |
|
(iii)
Capital work-in-progress |
289.700 |
410.800 |
1299.600 |
|
(iv)
Fixed Assets Held for Sale |
0.000 |
80.500 |
0.000 |
|
(b) Non-current Investments |
1891.000 |
1763.400 |
88.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
6764.500 |
2251.500 |
2050.300 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
809.800 |
|
(f) Trade
receivables |
691.200 |
1172.200 |
198.800 |
|
Total Non-Current
Assets |
19648.900 |
15268.000 |
11508.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
1000.000 |
|
(b)
Inventories |
2915.400 |
2727.000 |
1913.800 |
|
(c) Trade
receivables |
6403.700 |
6667.500 |
8466.200 |
|
(d) Cash
and cash equivalents |
1957.500 |
1847.700 |
490.800 |
|
(e)
Short-term loans and advances |
1930.900 |
1371.400 |
1761.000 |
|
(f) Other
current assets |
8.100 |
83.500 |
0.100 |
|
Total
Current Assets |
13215.600 |
12697.100 |
13631.900 |
|
|
|
|
|
|
TOTAL |
32864.500 |
27965.100 |
25140.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
33537.100 |
27274.700 |
22625.500 |
|
|
|
Other Income |
145.400 |
236.700 |
159.700 |
|
|
|
TOTAL (A) |
33682.500 |
27511.400 |
22785.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material and components consumed |
22737.400 |
19050.000 |
15712.000 |
|
|
|
Purchase of traded goods |
708.300 |
545.700 |
141.300 |
|
|
|
Employee benefits expense |
1177.000 |
987.000 |
825.600 |
|
|
|
Other expenses |
6396.200 |
5256.600 |
3599.500 |
|
|
|
(Increase) /
decrease in inventories of finished goods work-in-progress and traded goods |
60.300 |
(560.200) |
(309.300) |
|
|
|
TOTAL (B) |
31079.200 |
25279.100 |
19969.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2603.300 |
2232.300 |
2816.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1055.700 |
951.000 |
474.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1547.600 |
1281.300 |
2342.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
859.500 |
713.600 |
560.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
688.100 |
567.700 |
1781.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
213.500 |
129.300 |
376.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
474.600 |
438.400 |
1405.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
9529.900 |
8132.500 |
6998.500 |
|
|
|
FOB Value of Deemed Exports |
1436.700 |
2051.400 |
928.500 |
|
|
TOTAL EARNINGS |
10966.600 |
10183.900 |
7927.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
7008.800 |
5406.700 |
3728.500 |
|
|
|
Stores Spares and
Consumables |
137.700 |
120.000 |
122.900 |
|
|
|
Capital Goods |
469.200 |
255.800 |
785.000 |
|
|
TOTAL IMPORTS |
7615.700 |
5782.500 |
4636.400 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
1.21 |
1.12 |
3.95 |
|
|
|
Diluted |
1.20 |
1.11 |
3.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.41
|
1.59 |
6.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.05
|
2.08 |
7.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.24
|
2.42 |
8.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88
|
0.58 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74
|
0.84 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long-Term Borrowings |
|
|
|
Deferred payment liabilities |
|
|
|
Sales tax loan (interest free) |
0.500 |
0.000 |
|
Short-Term Borrowings |
|
|
|
Other loan from banks |
6997.600 |
5832.300 |
|
|
|
|
|
TOTAL |
6998.100 |
5832.300 |
|
NOTES SHORT-TERM BORROWINGS Other loans from
banks include buyer’s credit arrangements and export bill discounting. They
are repaid / rolled over after a period of six months and carry interest
@0.95-2% (excluding hedging premium). |
||
VIEW INDEX OF CHARGES
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10401862
|
22/01/2013
|
2,500,000,000.00
|
STATE BANK OF INDIA |
STATE BANK BHAVAN, MADAME CAMA
ROAD, MUMBAI, MAHARASHTRA - 400021, INDIA |
B67457549
|
|
2 |
10402643
|
22/01/2013
|
1,500,000,000.00
|
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, 21ST FLOOR,
WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B67905901
|
|
3 |
10403684
|
22/01/2013
|
5,730,000,000.00
|
STATE BANK OF INDIA |
NEVILLE HOUSE, J.N. HEREDIA
MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B68308972
|
|
4 |
10403874
|
22/01/2013
|
1,750,000,000.00
|
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA-400018,
INDIA |
B68452630
|
|
5 |
10403942
|
22/01/2013
|
1,500,000,000.00
|
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B68489483
|
|
6 |
10405909
|
22/01/2013
|
3,000,000,000.00
|
CORPORATION BANK |
CORPORATE BANKING BRANCH, 104 BHARAT
HOUSE, M S MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B68634260
|
|
7 |
10405941
|
22/01/2013
|
8,920,000,000.00
|
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B68594027
|
|
8 |
10406455
|
22/01/2013
|
4,250,000,000.00
|
BANK OF MAHARASHTRA |
LOKMANGAL, 1501, SHIVAJINAGAR,
PUNE, MAHARASHTRA- 411005, INDIA |
B68926468
|
|
9 |
10406463
|
22/01/2013
|
3,930,000,000.00
|
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH,
MANTRI COURT, 1ST FLOOR, 39 RAMABAI AMBEDKAR ROAD, PUNE, MAHARASHTRA -
411001, INDIA |
B68906957
|
|
10 |
10406828
|
22/01/2013
|
3,000,000,000.00
|
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLE, LAW G |
B69045763
|
|
11 |
10406831 |
22/01/2013 |
750,000,000.00 |
CITI BANK N.A. |
CITIGROUP CENTRE, 7TH FLOOR,
BANDRA -KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B69079408 |
|
12 |
10406841 |
22/01/2013 |
2,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, 21ST
FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B69101673 |
|
13 |
10406848 |
22/01/2013 |
1,500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT
MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B69045904 |
|
14 |
10406868 |
22/01/2013 |
6,750,000,000.00 |
ORIENTAL BANK OF COMMERCE |
F.C. ROAD,, 917-20/20A, OBC TOWER,
PUNE, MAHARASHTRA - 411004, INDIA |
B69045854 |
|
15 |
10406870 |
22/01/2013 |
2,750,000,000.00 |
UNION BANK OF INDIA LIMITED |
UNION BANK BHAVAN, 239, VIDHAN
BHAVAN MARG, MUMBAI, MAHARASHTRA - 400021, INDIA |
B69078129 |
|
16 |
90141388 |
09/11/2004 |
2,240,500,000.00 |
HOUSING DEVELOPMENT FINANCE
CORPORATION LIMITED |
RAMAN HOUSE; H.T PARAKH MARG,
BACKBAY RECLAMATION; CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
17 |
90144133 |
19/10/2002 |
457,700,000.00 |
IL & FS TRUST COMPANY
LIMITED |
IL AND FS CENTRE, C-22;BLOCK
G;BANDRA KURLA, MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
CORPORATE
INFORMATION
Subject is a
public company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on two stock exchanges in India. The
company is primarily engaged in the manufacture and sale of Power and Telecom
products and solutions. Telecom products and solutions mainly include
integrated optical fiber, other Telecom products such as fiber optical cables,
copper Telecom cables, structured data cables, access equipments, fiber
connectivity and system integration solution offerings for Telecom networks and
other service providers. Power products and solutions mainly includes power transmission
conductors and cables.
PERFOR MANCE
Fiscal year
2012-13 closed with Revenues of Rs. 33540.000 Millions, EBITDA of Rs. 2600.000
Millions, PAT of Rs. 470.000 Millions and EBITDA margins of 8%. The Telecom
business had revenues of Rs. 10560.000 Millions at an EBITDA margin of 15.74%
and the power business had revenues of Rs. 22300.000 Millions at an EBITDA
margin of 4.22%.
SUBSIDIARY COMPANIES AND JOINT VENTURES
At the end of the year,
the Company has nine Subsidiary Companies and two Joint Ventures, the details
of which are given below:
- STERLITE GRID
LIMITED (SGL)
SGL is a wholly
owned subsidiary of the Company incorporated to undertake power transmission
(IPTC) projects. SGL is currently executing multi-Million dollar power
transmission system projects, Pan-India via its wholly-owned subsidiary
companies, awarded on a ‘Build, Own, Operate and Maintain’ (BOOM) basis. In
accordance with this, transmission lines would be commissioned and the Company
would operate and maintain the same for a minimum tenure of 35 years through
project SPVs acquired through competitive bidding process.
- EAST-NORTH
INTERCONNECTION COMPANY LIMITED (ENICL)
ENICL project
involves establishment of two 400 kV Double Circuit transmission lines that
would respectively connect the Indian states of Assam with West Bengal and
Bihar. This project has 18 identified beneficiaries (mainly SEBs in the states
of Rajasthan, Punjab, Haryana, Uttaranchal and the city of Delhi), who would be
directly benefitted by this project. Out of the two lines, one line will be
operational in the first quarter of the FY 2013-14, while the second line will
be operational in the third quarter of the FY 2013-14.
- BHOPAL DHULE
TRANSMISSION COMPANY LIMITED (BDTCL)
BDTCL project
involves establishment of four 765 kV Single Circuit and two 400 kV Double
Circuit transmission lines that would strengthen the transmission system in the
Indian states of Madhya Pradesh, Maharashtra and Gujarat. The project is
expected to be completed before the end of March 2014.
- JABALPUR
TRANSMISSION COMPANY LIMITED (JTCL)
JTCL project
involves establishment of a 765 kV Double Circuit and a 765 kV Single Circuit
transmission line each, that would strengthen the transmission system in the
Indian states of Chhattisgarh and Madhya Pradesh. The project is expected to be
completed before March 2014. The Company achieved financial closure during the
year.
- JIANGSU
STERLITE TONGGUANG FIBER COMPANY LIMITED (JSTFCL)
The Company is a
Joint Venture with Tongguang Group of China to set up an Optical Fiber
Manufacturing Facility in China. During the year, JSTFCL commenced the
production of optical fiber at their new facility located at Haimen, Jiangsu
Province, China.
- STERLITE
DISPLAY TECHNOLOGIES PRIVATE LIMITED (SDTPL )
The Company is
currently exploring various growth opportunities including liquid crystal
displays (LCD s) glass manufacturing and other related products.
- STERLITE
NETWORKS LIMITED (SNL)
SNL is providing shared
last mile infrastructure for Broadband connectivity, dark fiber and duct space
leasing, tower fiber connectivity, backhaul connectivity, wifi –hot spots, DAS
/ IBS etc. Under the FiON™ brand, SNL has
created FTTX
infrastructure in 6 major cities pan-India, connecting over 70,000 homes,
serving 6500 subscribers from all major Telecom Service Providers like Airtel,
Tata, Spectranet, etc.
SNL, in less than
2 years of its existence, has filed 14 domestic and 5 international
applications for patents. Several other Intellectual Property applications are
in pipeline.
- MAHARASHTRA TRANSMISSION COMMUNICATION
INFRASTRUCTURE LIMITED (MTCIL)
MTCIL,
incorporated in August 2012, is a Joint Venture (JV) between Maharashtra State
Electricity Transmission Company Limited (MSETCL). MTCIL which is held 51% by
the Company, was formed with the objective of establishing an OPGW-based
communication network over MSETCL’s EHV transmission infrastructure in the
state of Maharashtra.
- STERLITE GLOBAL VENTURES (MAURITIUS) LIMITED
(SGVML)
SGVML holds
downstream investment of the Company made in Jiangsu Sterlite Tongguang Fiber
Company Limited.
- STERLITE TECHNOLOGIES AMERICAS, LL C (STA )
STA is a limited
liability company set up in USA to carry the business operations in USA.
- STERLITE TECHNOLOGIES EUROPE VENTURES LIMITED
- CYPRUS (STEVL)
STEVL,
incorporated in Cyprus is a wholly owned subsidiary of the Company, with an
objective to carry on business operations in the European Union.
NETWORK FOR SPECTRUM (NFS)
Another mega fiber
rollout is being undertaken in India, owing to spectrum shortage arising due to
scarcity of this
critical wireless
resource. The Telecom Regulatory Authority of India (TRAI) estimates that to
meet the growing needs of 2G and 3G services in India will require around 500
to 800MHz of spectrum in the next 5 years. The Department of Telecom (DoT) and
the country’s Defense forces have come together to make available this
spectrum.
The defense forces
are vacating 80 Mhz for commercial use in lieu of alternative backbone network
i.e. Network For Spectrum (NFS) also known as ‘Nationwide Communication
Network’, being built by state-owned telcos. The groundwork for this project to
lay 57,000 kms of optical fiber cable is already underway.
All these
developments concur with their belief that the demand for optical fiber across
the globe is there to stay with the ever increasing IP traffic. Today fiber is
the only medium which can enable this data traffic complementing wireless and
legacy copper networks. Sterlite’s extensive portfolio of fiber solutions helps
service
providers and
utilities in creating efficient and future proof networks to enable the
explosion of data across networks globally. Another segment that Sterlite
caters is the power segment, enabling transmission infrastructure to meet the
growing electricity needs of the people across the world.
CAPACITY ADDITIONS
TO MEET THE RISING DEMAND
Globally,
generation capacity additions by all sources would be needed to keep pace with
rising demand and to replace capacity that will be retired (1980 MW) over
2012-2035. It is expected that the gross capacity additions from 2012-2035 will
be about 5,891 GW. Further, over 37% of the cumulative capacity addition will
be in China and India alone, as these countries seek greater access to
electricity.
Modern Renewable
Energy (RE) sources such as wind and solar PV have cemented their positions in
the energy mix after years of mainstreaming. It is projected that wind will
achieve about 20% of penetration in the European Union (EU) in next two
decades. Strong growth in markets like the US, China and India is projected,
thus underpinning the government support. Also, wind power capacity is set to
reach 1,098 GW by 2035 growing at a CAGR of 6.6% from the levels of 2011, as
per IEA estimates. Solar sector has witnessed a sky-rocketing growth in recent
years on account of substantial falls in solar PV costs. Globally, the solar PV
sector is expected to add another 662 GW by 2035 large capacity additions
expected in EU, the US, China, India and Japan.
In 2012, the
United Nations launched a global initiative – “Sustainable Energy for All” ,
which aims to double RE share in global energy mix by 2030, double the global
rate of improvement in energy efficiency and to ensure universal access to
modern energy services. Energy sustainability – based on these three core
dimensions – is inextricably interwoven such that reaching these goals by 2035
would mean RE’s contribution of 31% of total electricity, second only to coal.
Essentially, subsidies offered to make the RE proposition attractive, fueled
the growth of RE sources. World Energy Outlook 2012 reports that the subsidies
will rise from US$88 Billion globally in 2011 to US$240 Billion in 2035.
Two consecutive
grid blackouts raised fundamental questions about the aptness of the
regulations, the government’s investment strategy in transmission system,
technological uptake philosophy and system operating practices governing transmission
system security. However, amidst inadequate infrastructure, a crippling power
shortage, fuel shortage, bleeding DISCO Ms and yawning absence of
state-governmental action, Power Industry’s response to the blackout and
short-to-long-term solution-finding efforts are likely to provide the
leadership and drive needed to avoid unduly exposing transmission systems to
the risk of further substantial power failures. Central agencies are initiating
steps to enhance the ability of a power transmission system to withstand the
unexpected loss of key components.
Development and
deployment of new and existing technologies ranging from high temperature low
sag conductors to power monitoring devices to Ultra high voltage lines to
Automatic Control Systems are envisaged. Investment into expansion of
transmission line capacity to alleviate transmission congestion has also been
planned.
INDIA’S TRANSMISSION SECTOR
In India, strategy
of transmission development is commensurate with generation and load growth,
creation of highways leading to strengthening of National Grid and conservation
of Right-of-Way. Government policies also point to a huge thrust on
transmission sector in terms of capacity buildup and planned expenditures for
the 12th Plan.
A total of about 1,07,440
ckm of transmission lines; 2,70,000 MVA of AC transformer capacity and 12,750
MW of
HVDC systems are
estimated as needed during the 12th Plan.
The 12th
five-year-plan is expected to register maximum growth in terms of capacity
addition through 400 kV lines - backbone of transmission infrastructure in
India.
Historically, the
focus of the power sector in the country has primarily been on addition of
generation capacities. There is also a clear trend in terms of shift of focus
on transmission. The share of investment in transmission for the 12th Plan and
the 13th Plan is substantially higher than it was for the previous
five-year-plans.
While cost
uncertainties due to volatility in metal prices and Forex are other deterrents,
commodity present value as pass through will help in risk sharing, transmission
project funding should be made available at lower cost a priority to PFC and
REC.
Bulk Power
Companies (BPCs) put a strict control on the technical specification as they
micro-specify various technical and commercial aspects. This results in long
bidding process and restricted uptake of new technologies and practices.
Engaging private sector in specification development and policy making will
allow new technology adoptions and provide a level playing field for entry of
competitive and reliable players.
In order to
accelerate the contribution of private players in transmission sector, the
degree of involvement of developer in the planning and development process can
and should be elevated from just being a Quasi-EPC to a stakeholder. Renewable
energy has been an important component of India’s energy planning process.
Since the 9th Plan period, the share of renewable capacity has increased from
2% to 12% of the total installed capacity of 223, 870 MW as on today, a 6-fold
increase. Electricity generation due to renewable source has also increased to
about 6% in overall electricity generation mix as on today. With such
multi-fold growth, penetration of renewable power in the Indian grid has
increased. Presently, about 28,000 MW grid interactive RE generation capacity
is available. Out of this about 70% grid interactive capacity is contributed by
the wind alone.
India would take
its new and renewable capacities to 55,000 MW by 2017, the terminal year of the
12th five-yearplan. The projected change in the mix of generation by fuel
supply by the end of 2030 is tilting in favour of RE. The share of renewable
energy in electricity generated is expected to rise from around 6% in 2012 to 9%
in 2017 and 16% in 2030.
GREEN ENERGY
CORRIDORS: AN ELECTRIFYING EXAMPLE IN THE TRANSMISSION SECTOR
While fossil-fuel
generation resources have some flexibility in terms of close proximity of the
site to existing transmission grid, integration of RE poses a special challenge
as the site of renewable resources is largely dictated by nature. Intermittent
availability as well as variability of energy and lesser grid support during
system disturbance and exigencies stymie growth of power evacuation/grid facilities
and transmission planning. Further, the transmission investments needed to meet
these challenges have not kept pace with the rapid growth of renewable energy
capacity in the past few years.
In order to
facilitate the development of transmission system as well as other
infrastructure facilities as a part of the renewable capacity addition
programme in the 12th Plan, the estimated investment for the transmission
development plan for integration of renewable energy by Central Transmission
Utility (CTU) and the identified State Transmission Utility (STU) under PGCIL’s
study is Rs. 425570.000 Millions.
ROAD TO THE
FUTURE: TRANSMISSION FOR 2030
Considering the
huge thrust on realizing wind and solar potential as well as the impetus given
on development of other RE technologies, a perspective transmission plan for
renewable energy, that serves as a road map, has been chalked out for the year
2030 in PGCIL study. In line with this, broad contours of transmission plan for
2030 has been prepared with the following approach:
i. Development of
Hybrid EHV AC/ HVDC Transmission system for flexibility of controls
ii.
Interconnection of RE rich regions as well as with major load centers as touch
points
iii. Establishment
of transmission corridors passing through conventional generation complexes
including Andhra Pradesh (gas), Odisha (coal) and Jharkhand (coal) as well as
new transmission corridors from hydro-rich areas to achieve supply balance.
Nine new
ultra-high capacity transmission corridors have been proposed. These corridors
will not only dispatch the energy generated from proposed renewable energy
capacity to high-demand centres across the country, but will also complement
the parallel transmission system of conventional generation projects/grid
strengthening schemes, for transfer of power as well as help maintain the grid
parameters.
NEED TO SPRING IN
NEWER TECHNOLOGY PARADIGMS
Transmission
system build out was historically planned to link large stationary power plants
to nearby demand centers. However, traditional approach to transmission
planning is rendered ineffective, if not completely obsolete, in the context of
changing energy mix, RoW issues, open access in transmission and need to add
certain degree of redundancies in the case of eventualities and future proofing
contingencies. Technology will be crucial in bringing about this
transformation.
The technological
strides which India seeks to take in the near future includes high capacity
transmission corridors comprising 765 kV AC lines, expansion of 1200 kV AC
system, Gas Insulated Substations (GIS) and high temperature low sag conductor
line.
Going forward, it
is imperative for the company to expand energy supplies and transmission
capacity in a way that
is sustainable.
Moreover, sustainable development mandates emphasis on new policies and
planning approaches, investment mechanism and new technologies. Thus,
transmission sector is poised for high growth and renders unique opportunities
for private players.
Sterlite
Technologies is the leading provider for power conductors in India today, and
with an extensive portfolio of
high performance
conductors, enabling the utilities in the country and abroad to build efficient
and sustainable power transmission lines
FIXED ASSETS
- Freehold land
- Leasehold land
- Buildings
- Plant and machinery
- Furniture and fixtures
- Data processing equipment
- Office equipment
- Electric fittings
- Vehicles
STANDALONE
FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2013
(Rs.
In millions)
|
Particulars |
Quarter Ended
30.06.2013 (Unaudited) |
|
(a) Net Sales/ Income from
operation |
7447.800 |
|
(b) Other Operating Income |
135.400 |
|
Total Income |
7583.200 |
|
2. Expenditure |
|
|
a. Increase(-) /Decrease(+) in Stock in trade and W.I.P. |
(215.900) |
|
b. Cost of Materials Consumed |
5035.800 |
|
c. Purchase of Traded Goods |
82.100 |
|
d. Employees Cost |
344.900 |
|
e. Depreciation |
237.200 |
|
f. Other Expenditure |
1514.700 |
|
g. Total |
6998.800 |
|
3. Profit(+)/
Loss(-) from Operations before other Income Interest and Exceptional
Item(1-2) |
584.400 |
|
4. Other Income-Foreign Exchange Fluctuation-Gain/(Loss) |
32.600 |
|
5. Profit(+)/
Loss(-) before Interest and Exceptional Item |
617.000 |
|
6. Interest |
278.200 |
|
7. Profit(+)/
Loss(-) after Interest but before Exceptional Item (5-6) |
338.800 |
|
8. Exceptional Items |
-- |
|
9. Profit(+)/
Loss (-) from ordinary activities
before Tax (7-8) |
338.800 |
|
10. Tax Expenses |
112.800 |
|
11. Net
Profit(+)/ Loss (-) from ordinary activities after Tax (9-10) |
226.000 |
|
12. Extraordinary Items |
-- |
|
13. Net Profit (+)/ Loss(-) for the period (11-12) |
226.000 |
|
14. Paid Up Equity Share Capital (Face Value of Rs.10 Per Share) |
786.900 |
|
15. Reserves excluding Revaluation Reserves as per Balance Sheet of
Previous Accounting Year |
-- |
|
16. Earning per Share (EPS) |
|
|
a) Basic and diluted EPS before extraordinary items for the period,
for the year to date and for the previous year (not annualised) |
0.57 |
|
b) Basic and diluted EPS after extraordinary items for the period, for
the year to date and for the previous year (not annualised) |
0.57 |
|
17. Public Shareholding |
|
|
Number of Shares |
178301443 |
|
% of Share holding |
45.31% |
|
18. Promoters and promoter group Shareholding |
|
|
a) Pledged/Encumbered |
|
|
- Number of shares |
-- |
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter
group) |
-- |
|
- Percentage of shares (as a
% of the total share capital of the
company) |
-- |
|
b) Non-encumbered |
|
|
- Number of shares |
215218656 |
|
- Percentage of shares (as a % of the total
shareholding of promoter and
promoter group) |
100% |
|
- Percentage of shares (as a
% of the total share capital of the
company) |
54.69% |
(Rs. In Millions)
|
Sl. No. |
|
Particulars |
Quarter Ended |
|
|
30.06.2013 |
||
|
|
(Unaudited) |
||
|
1 |
|
Segment Revenue |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
4533.400 |
|
|
|
Telecom Products and Solutions |
2914.400 |
|
|
|
|
|
|
|
|
Total |
7447.800 |
|
|
|
|
|
|
|
|
Profit Before
Interest, Depreciation and Tax |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
243.100 |
|
|
|
Telecom Products and Solutions |
611.100 |
|
|
|
|
|
|
|
|
Total |
854.200 |
|
|
|
|
|
|
|
|
Profit Before
Interest and Tax |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
172.400 |
|
|
|
Telecom Products and Solutions |
444.600 |
|
|
|
|
|
|
|
|
Total |
617.000 |
|
|
|
|
|
|
|
|
Interest Cost |
278.200 |
|
|
|
|
|
|
|
|
Profit Before Tax |
338.800 |
|
|
|
|
|
|
|
|
Capital Employed
(Segment Assets – Segment Liabilities) |
|
|
|
|
|
|
|
|
|
Power Project and Solutions |
3982.000 |
|
|
|
Telecom Products and Solutions |
11942.500 |
|
|
|
Unallocable |
6738.500 |
|
|
|
|
|
|
|
|
Total |
22663.000 |
NOTES
- In terms of
clause 41 of the listing agreement, details of number of inventor
complaints for the quarter ended June 30, 2013 : Beginning – 0, Received
-25, Disposed off – 25, Pending 0.
- The above
results have been reviewed by the Audit Committee. The Board of directors
at its meeting held on July 26, 2013 approved the above results.
- During the
year 2005-06, the CESTAT had upheld a demand of Rs. 1880.000 Millions
(including penalties thereon and excluding interest) in the pending excise
matter. The auditors have expressed their qualification on this matter.
The company is contesting this case and the matter is pending the decision
of the Honb’le Supreme Court.
- The figures
for the quarter ended March 31, 2013 are balancing figures between audited
figures in respect of the full financial year ended March 31, 2013 and the
unaudited published year-to-date figures up to December 31, 2012, being
the date of the end of the third quarter of the financial year 2012-13,
which was subjected to limited review.
- Previous period
figures have been regrouped / rearranged wherever considered necessary.
WEBSITE DETAILS
NEWS
STERLITE
TECHNOLOGIES LAUNCHES ENHANCED FAMILY OF BEND-INSENSITIVE FIBERS
Brand
new BOW LITE SUPER, G.657 B3
Improved BOW LITE
PLUS, G.657 A1 and BOW LITE (E), G.657 A2.B2
Pune, India – July
18, 2013: Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading
global provider of transmission solutions for the telecom and power industries
has announced the launch of three new products in its bend-insensitive BOW LITE
family of fibers. These include the brand new BOW LITE SUPER (G. 657 B3), and
significantly improved BOW LITE PLUS (G.657 A1) and BOW LITE ENHANCED (G.657
A2.B2) fibers. All fibers have industry leading specifications for attenuation and
macro-bend loss with tight geometry control making them particularly suitable
for Fiber to the Home (FTTH) applications. Furthermore, Sterlite is one of the
few manufacturers in the world with the scale to offer novel products for such
applications.
Optical fiber
cables in FTTH networks experience several tight bends, especially in
distribution section of the network, drop cables found in Multi Dwelling Units,
and cables inside the homes. The use of bend insensitive G.657 fibers in FTTH
installations is required as carriers have to contend with tight power budgets, and uncertain deployment conditions
needing healthy safety margins. Additionally, since bandwidth demands of end
consumers keeps increasing at an exponential rate, carriers have to future proof
their network assets, even as they are deploying current generation technology.
With its significantly low macro bend loss and attenuation, Sterlite family of
bend insensitive fibers are the perfect solution to the carriers’ FTTH needs,
suited to all FTTH architectures and deployment conditions.
Dr. Badri Gomatam,
Chief Technology Officer, Sterlite Technologies Limited, stated, “We are very
pleased with the launch of these products. Being committed to innovation in the
core market segments we serve, these new fibers augment Sterlite's product
portfolio in optical fibers, and positions Sterlite well in addressing the
growing demand for telecommunications infrastructure in India and abroad”.
The BOW LITE
series complies or exceeds ITU Recommendations and IEC 60793-2-50 optical fiber
specification.
About Sterlite
Technologies Limited
Sterlite
Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading
global provider of transmission solutions for the power and telecom industries.
Equipped with a product portfolio that includes power conductors, optical power
ground wire, EHV/HV power cables, optical fibers, telecommunication cables and
a comprehensive telecom systems / solutions portfolio, Sterlite's vision is to
'Connect every home on the planet'. Sterlite is also executing multimillion
dollar power transmission system projects, pan-India.
ALLOTMENT OF SHARES UNDER ESOS
October 26,
2012:
Sterlite Technologies Limited has informed BSE that the Allotment Committee of the Board of Directors of the Company in its meeting held on October 25, 2012, has allotted equity shares to those grantees who had exercised their options under the Companys Employee Stock Option Scheme - 2006.
Further, the Company has informed that, the aforesaid shares will rank pari passu with the existing shares of the Company in all respects.
Post allotment the Share Capital of the Company is as under :
- Existing Share Capital (no.) - 39,33,86,805.
- Allotment for ESOP (no.) - 42,010.
- Post Allotment (no.) - 39,34,28,815.
STERLITE AND TONGGUANG JOINT VENTURE IN CHINA STARTS PRODUCTION OF
OPTICAL FIBER
February 18,
2013:
Sterlite Technologies Limited has submitted to BSE a news-release regarding the Commencement of production of optical fiber by Jiangsu Sterlite Tongguang Fiber Co. Limited. (JSTFCL), the joint venture (JV) Company formed between Sterlite Technologies Limited (‘the Company’) and Jiangsu Tongguang Communication Co Limited (TGCI).
FOR IMMEDIATE PUBLICATION
Pune, India and
Curitiba, Brazil – July 10, 2013:
Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries has entered into a Joint Venture agreement with Conduspar Condutores Eletricos Limitada “Conduspar”). Conduspar is one of the largest companies in Brazil specialised in providing copper and aluminium cables for low and medium voltage applications in Latin America. The 50-50 joint venture will be a greenfield facility in Curitiba within the state of Parana (Brazil), and produce optical fiber cables for the Latin American markets. One of the fastest growing markets for fiber cable, Latin America at present, has an annual demand of more than 10 million fiber kilometers. This venture would be a key milestone towards Sterlite’s global expansion strategy of its telecommunications business.
“Latin America is an important market for us from a growth perspective and we are pleased to have this joint venture with a strong and reputed partner like Conduspar. Both the companies share a common vision and bring together complementary strengths for this venture,” said
Mr. Pravin Agarwal, Whole-time Director, Sterlite Technologies Limited.
Mr. Andre Abage, CEO and promoter of Conduspar, who will drive this joint venture added, “We are very excited at the prospect of partnering with the Sterlite group. With Sterlite’s technology and expertise in the telecom cable domain and Conduspar’s local presence, we will create a formidable brand in this market.
”The joint venture is expected to start commercial production by the first quarter of 2015 fiscal year.
About Sterlite
Technologies Limited
Sterlite Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite's vision is to 'Connect every home on the planet'. Sterlite is also executing multi-million dollar power transmission system projects, pan-India.
About Conduspar
Condutores Eletricos Limitada
Conduspar Condutores Eletricos Limitada (“Conduspar”), a privately held company in Brazil, is part of the Condus a group of companies incepted in 1925. Conduspar is one of the largest companies in Brazil specialised in providing copper and aluminium cables for low and medium voltage applications. With over 28 years of experience in high quality products, Conduspar has gained a leading market position in the power cable industry for the Latin America market.
STERLITE HELPS TATA POWER AUGMENT POWER CARRYING CAPACITY
Aug 13, 2013, 06.11
PM IST
Upgrades the 22 kV IIT Powai-Saki transmission line crossing over a thickly populated slum area comprising closely spaced hutments and hilly terrain one of the toughest terrains for specialised stringing.
Sterlite Technologies Limited, a leading global provider of transmission solutions for the power and telecom industries, today announced that it has completed installation and commissioning of a challenging project in the heart of Mumbai requiring significant upgradation in the power carrying capacity for a critical line of Tata Power. Sterlite executed this turnkey project for Tata Power a leading T&D utility in India. The project involved rendering of services like design, supply and installation of high capacity, high strength carbon composite core conductors on an existing critical arterial 22 kV line delivering power to a number of industrial customers and a local college. This unique solution has resulted in an exponential increase in the power transmission capacity of the existing IIT Powai to Saki transmission line that criss-crossed over a thickly populated slum area comprising closely spaced hutments and hilly terrain.
"The lines on which ACCC conductors have been installed are very old lines traversing through populated areas," says M V Deodhar, Assistant Engineer Projects, Tata Power. "The idea was to go for lightweight conductor so that we can retain our existing structures and augment the line capacity. Further, light weight conductor was mandatory in order to improve ground profile as well as maintain existing clearances. These three factors were considered while selecting the conductor," Deodhar adds.
Tata Power introduced Sterlite's Carbon Composite Core with Trapezoidal Annealed wires technology to replace the old ACSR conductors with the vision to double the Power transmission capability over the same tower line and conditions. The complete re-conductoring exercise was supervised by Sterlite and carried out using specialised equipment like Tensioner and Pullers to eliminate any possibility of winding force between the carbon core and the trapezoidal annealed wire conductors manufactured at Sterlite's Haridwar facility. "Until now the conductor has been loaded up to 480 Amperes and so far its performance has been satisfactory. We have been observing the performance/behaviour of the conductor under faults, and so far the conductor is not subjected to fault condition," affirms Deodhar. The line would realise its promised throughput as soon as the substation upgradation gets completed.
Carbon Composite Core technology with fully annealed trapezoidal wire conductors are known to reduce line losses up to 40% compared to conventional conductors of the same diameter and weight owing to 28% more aluminum and better compactness which greatly increases capacity, reduces losses as well as providing cooler operating temperatures. The core is 25% stronger & 60% lighter compared to steel cores used in traditional conductors and have significantly lower coefficient of thermal expansion which leads to less sag at higher temperatures. The technology of composite carbon core production, which is a critical part of the overall conductor solution, is patented by CTC Global, USA and is licensed to Sterlite Technologies.
"In India, re-conductoring is a technically and economically viable alternative, as transmission operators face increasing opposition while seeking new rights-of-way. The proposed Carbon Composite Core Conductor solution offers conductivity and resistance to thermal sag, thereby allowing it to carry very high levels of current at higher operating temperatures during peak demand or emergency conditions. Completion of this installation is a vital step in moving forward with our utility customer engagements. It is important to illustrate our conductor’s ease of installation to customers as we prepare for commercial projects over the coming months," says K S Rao, COO Telecom & Power Conductors, Sterlite Technologies Limited.
"We are confident of our solution backed by our application engineering strengths, Master Installer programs and flexible offers customised to specific utility requirements will make significant contribution to the capacity and reliability of the Transmission as well as Sub-Transmission Grids in India. Moreover, higher capacity, reduced sag and lighter weight also translate into lower project costs. These attributes provide economic advantages when upgrading an existing line with minimal structural modifications or installing a new line with fewer or shorter structures definitely a vital step towards our utility customer engagements," Rao adds.
STERLITE
TECHNOLOGIES’ Q1 FY 14 PROFITABILITY AT RS 850.000 MILLIONS, UP BY 16% OVER
LAST YEAR
FOR
IMMEDIATE PUBLICATION
Pune, India – July 26, 2013: Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the telecom and power industries today announced its results for the quarter ended June 30, 2013. The company posted net revenues of Rs. 7580.000 Millions, with an EBITDA of Rs. 850.000 Millions and net profit of Rs. 230.000 Millions. Financial highlights for quarter ended June 30 2013:
• Sterlite closed Q1FY14 with EBITDA of Rs. 850.000 Millions on total revenues of Rs. 7580.000 Millions translating into a profitability margin of 11% for this quarter.
• The telecom business earned revenues of Rs. 2910.000 Millions and EBITDA of Rs. 610.000 Millions in Q1FY14, while the power business earned revenues of Rs. 4530.000 Millions and EBITDA of Rs. 240.000 Millions in Q1FY14
• International sales revenue of about Rs. 1980.000 Millions (~US$ 36 Million); approximately 26 % of net revenues Business highlights in Q1 FY14In the Telecom Segment
• Highest ever sales volumes in a quarter for optical fiber
• Almost 50% of sales were from export markets
• Received orders for specialty high-performance fibers from geographies like China and Middle East,which unlocks access to these markets for long haul applications
• OH-LITETM fiber has been certified by Alcatel-Lucent and Ciena Corporation for successful data transmission at 100 GB speeds
In the Power Segment
• Commissioned next generation ACCC conductor solution for Tata Power’s Mumbai project; upgraded the 22 kV
IIT Powai-Saki transmission line crossing over a thickly populated slum area comprising closely spaced hutments
and hilly terrain – one of the toughest terrains for specialized stringing; Received repeat order for ACCC from Tata Power for re-conductoring project in Mumbai
• First large scale international ACSR Zebra conductor order for a 275 KV project in Indonesia
On the Infrastructure projects
• The first line of East-North Interconnection Project is expected to be commissioned in August 2013
• The execution of other two projects: Bhopal-Dhule Transmission (BDTCL) and Jabalpur Transmission (JTCL) are currently running largely on track towards progressive revenue generation in FY15.
Mr Pravin Agarwal, Director, Sterlite Technologies Limited says, “Sterlite’s enhanced product portfolio and increasing global footprint has helped us capitalize on opportunities in the power and telecom sectors”. He adds, “The addition of marquee customers in in Middle East, Latin America and South Asian regions coupled with repeat business from existing overseas clients in this Quarter is an indicator of growing confidence of global customers in Sterlite.”At the start of Q2FY14, the Company has a strong order book of about Rs. 18300.000 Millions for its power and telecom products, out of which export orders comprise 32%.
About Sterlite
Technologies Limited
Sterlite Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite's vision is to 'Connect every home on the planet'. Sterlite is also executing multi - million dollar power transmission system projects, pan
STERLITE TECHNOLOGIES
HELPS TATA POWER AUGMENT POWER CARRYING
CAPACITY FOR A CRITICAL MUMBAI LINE
FOR
IMMEDIATE PUBLICATION
Pune,
India – August 13, 2013:
Sterlite Technologies Limited [BSE: 532374, NSE: STRTECH], a leading global provider of transmission solutions for the power and telecom industries, today announced that it has completed installation and commissioning of a challenging project in the heart of Mumbai requiring significant upgradation in the power carrying capacity for a critical line of Tata Power. Sterlite executed this turnkey project for Tata Power – a leading T&D utility in India. The project involved rendering of services like design, supply and installation of high capacity, high strength arbon
composite core conductors on an existing critical arterial 22 kV line delivering power to a number of industrial customers and a local college. This unique solution has resulted in an exponential increase in the power transmission capacity of the existing IIT Powai to Saki transmission linethat criss-crossed over a thickly populated slum area comprising closely spaced hutments and hilly terrain.
“The lines on which ACCC conductors have been installed are very old lines traversing through populated areas,”
says M V Deodhar, Assistant Engineer – Projects, Tata Power. “The idea was to go for lightweight conductor so that we can retain our existing structures and augment the line capacity. Further, light weight conductor was mandatory in order to improve ground profile as well as maintain existing clearances. These three factors were considered while selecting the conductor,” Deodhar adds.
Tata Power introduced Sterlite’s Carbon Composite Core with Trapezoidal Annealed wires technology to replace the old ACSR conductors with the vision to double the Power transmission capability over the same tower line and conditions. The complete re-conductoring exercise was supervised by Sterlite and carried out using specialised equipment like Tensioner and Pullers to eliminate any possibility of winding force between the carbon
core and the trapezoidal annealed wire conductors manufactured at Sterlite’s Haridwar facility. “Until now the conductor has been loaded up to 480 Amperes and so farits performance has been satisfactory. We have been observing the performance/behaviour of the conductor under faults, and so far the conductor is not subjected to fault condition,” affirms Deodhar. The line would realise its promised throughput as soon as the substation upgradation gets completed.
Carbon Composite Core technology with fully annealed trapezoidal wire conductors are known to reduce line losses up to 40% compared to conventional conductors of the same diameter and weight owing to 28% more aluminum and better. compactness which greatly increases capacity, reduces losses as well as providing cooler perating temperatures. The core is 25% stronger & 60% lighter compared to steel cores used in traditional conductors and have significantly lower coefficient of thermal expansion which leads to less sag at higher temperatures. The technology of composite carbon core production, which is a critical part of the overall conductor solution, is patented by CTC Global, USA and is licensed to Sterlite Technologies.
"In India, re-conductoring is a technically and economically viable alternative, as transmission operators face increasing opposition while seeking new rights-of-way. The proposed Carbon Composite Core Conductor solution offers conductivity and resistance to thermal sag, thereby allowing it to carry very high levels of current at higher operating temperatures during peak demand or emergency conditions. Completion of this installation is a vital step in moving forward with our utility customer engagements. It is important to illustrate our conductor’s ease of installation to customers as we prepare for commercial projects over the coming months," says K S Rao, COO – Telecom and Power Conductors, Sterlite Technologies Limited.
"We are confident of our solution backed by our application engineering strengths, Master Installer programs and flexible offers customised to specific utility requirements will make significant contribution to the capacity and reliability of the Transmission as well as Sub-Transmission Grids in India. Moreover, higher capacity, reduced sag and lighter weight also translate into lower project costs. These attributes provide economic advantages when upgrading an existing line with minimal structural modifications or installing a new line with fewer or shorter structures – definitely a vital step towards our utility customer engagements,” Rao adds.
About Sterlite
Technologies Limited
Sterlite Technologies Limited (“Sterlite”) [BSE: 532374, NSE: STRTECH], is a leading global provider of transmission solutions for the power and telecom industries. Equipped with a product portfolio that includes power conductors, optical power ground wire, EHV/HV power cables, optical fibers, telecommunication cables and a comprehensive telecom systems / solutions portfolio, Sterlite's vision is to 'Connect every home on the planet'. Sterlite is also executing multi-million dollar power transmission system projects, pan-India.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.82 |
|
|
1 |
Rs. 91.75 |
|
Euro |
1 |
Rs. 79.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.