Summary Information
|
|
|
Country |
|
|
Company Name |
RELIANCE POWER LIMITED |
Principal Name 1 |
Mr. Anil Dhirubhai Ambani |
|
Status |
Good |
Principal Name 2 |
Mr. J. L. Bajaj |
|
|
|
Registration # |
11-084687 |
|
Street Address |
H Block, 1st Floor, |
||
|
Established Date |
17.01.1995 |
SIC Code |
-- |
|
Telephone# |
91-22-30386010 |
Business Style 1 |
Business of generation power. |
|
Fax # |
91-22-30376633 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 28,051,300/- |
Product Name 3 |
-- |
|
Shareholders |
Total shareholding of promoter and promoter group 75%, total public shareholding
25% |
Banking |
IDBI Bank Limited |
|
Public Limited Corp. |
Yes |
Business Period |
19 years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba (54) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary |
-- |
Sasan
Power Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
40,009,300,000 |
Current Liabilities |
408,900,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
18,777,800,000 |
|
Fixed Assets |
840,800,000 |
Other Liabilities |
37,400,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
19,224,100,000 |
|
Invest& other Assets |
146,625,900,000 |
Retained Earnings |
140,200,600,000 |
|
|
|
Net Worth |
168,251,900,000 |
|
Total Assets |
187,476,000,000 |
Total Liab. &
Equity |
187,476,000,000 |
|
Total Assets (Previous Year) |
163,085,700,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Total Income |
2,508,500,000 |
Net Profit |
5,139,300,000 |
|
Total Income (Previous yr) |
5,318,500,000 |
Net Profit(Prev.yr) |
3,108,600,000 |
MIRA
INFORM REPORT
|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE POWER LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai – 400710, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.01.1995 |
|
|
|
|
Com. Reg. No.: |
11-084687 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28051.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40101MH1995PLC084687 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR07195G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Generation of Power on
Commencement of Project. |
|
|
|
|
No. of Employees
: |
Information declined by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 673100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance Anil Dhirubhai
Ambani group a well-known industrial house in the
country. It is an established company having fine track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies
between April and January of 2013/14 which has seen some signs of recovery
according to a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term debt programme
= A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
February 2014 |
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 DENIED
Management Non Co- operative
Contact No.: 91-22-22842384
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai – 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30386010/30373333 |
|
Fax No.: |
91-22-30376633/30385169 |
|
E-Mail : |
reliancepower.ipo@relianceada.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
Maker Chamber IV, 3rd Floor, 222 Nariman
Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22842384/22842929 |
|
Fax No.: |
91-22-22826076 |
|
|
|
|
Investor Service Centre : |
G Block, Ground Floor, Dhirubgai Ambani Kowledge City, Navi Mumbai 400 710, Maharashtra,
India |
|
Tel. No.: |
91-22-30385565 |
|
Fax No.: |
91-22-30385169 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Anil Dhirubhai Ambani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. J. L. Bajaj |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Yogendra Narain |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. V. K. Chaturvedi |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Ramaswami Kalidas |
|
Designation : |
Company Secretary and Manager |
|
Name : |
Mr. J. P. Chalasani |
|
Designation : |
Chief Executive Officer |
SHAREHOLDING PATTERN
As on 31.12.2013
|
Category of Shareholder |
Total No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2212425 |
0.08 |
|
|
2101182579 |
74.92 |
|
|
2103395004 |
75.00 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
2103395004 |
75.00 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
12733821 |
0.45 |
|
|
16276956 |
0.58 |
|
|
386210 |
0.01 |
|
|
117681455 |
4.20 |
|
|
180585652 |
6.44 |
|
|
327664094 |
11.68 |
|
|
|
|
|
|
51179334 |
1.82 |
|
|
|
|
|
|
290510101 |
10.36 |
|
|
24123532 |
0.86 |
|
|
7669176 |
0.27 |
|
|
7669176 |
0.27 |
|
|
373482143 |
13.32 |
|
Total Public
shareholding (B) |
701146237 |
25.00 |
|
Total (A)+(B) |
2804541241 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
585225 |
0.00 |
|
|
585225 |
0.00 |
|
Total
(A)+(B)+(C) |
2805126466 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to 
BUSINESS DETAILS
|
Line of Business : |
Generation of Power on
Commencement of Project. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by Management
|
|
|
|
|
Bankers : |
|
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1: |
Chaturvedi and Shah Chartered Accountants |
|
|
|
|
Name 2: |
Price Waterhouse Chartered Accountants |
|
|
|
|
Subsidiaries (Direct and step-down subsidiaries) : |
· Sasan Power Limited (SPL) · Rosa Power Supply Company Limited (RPSCL) · Maharashtra Energy Generation Limited (MEGL) · Vidarbha Industries Power Limited (VIPL) · Tato Hydro Power Private Limited (THPPL) · Siyom Hydro Power Private Limited (SHPPL) · Chitrangi Power Private Limited (CPPL) · Urthing Sobla Hydro Power Private Limited (USHPPL) · Kalai Power Private Limited (KPPL) · Coastal Andhra Power Limited (CAPL) · Reliance Coal Resources Private Limited (RCRPL) · Erstwhile Sasan Power Infrastructure Limited (Erstwhile SPIL) · Erstwhile Maharashtra Energy Generation Infrastructure Limited (Erstwhile MEGIL) (Refer Note 15 (C) (iii) (c)) · Amulin Hydro Power Private Limited (AHPPL) · Emini Hydro Power Private Limited (EHPPL) · Mihundon Hydro Power Private Limited (MHPPL) · Jharkhand Integrated Power Limited (JIPL) · Reliance CleanGen Limited (RCGL) · Rajasthan Sun Technique Energy Private Limited (RSTEPL) · Erstwhile Reliance Clean Energy Private Limited (Erstwhile RCEPL) (Refer note 9) · Dahanu Solar Power Private Limited (DSPPL) · Solar Generation Company (Rajasthan) Private Limited (SGCPL) (upto 03.03.2012) · Bharuch Power Limited (BPL) · Samalkot Power Limited (SMPL) · Reliance Prima Limited (RPrima) · Atos Trading Private Limited (ATPL) · Atos Mercantile Private Limited (AMPL) · Coastal Andhra Power Infrastructure Limited (CAPIL) · Reliance Power Netherlands BV (RPN) · PT Heramba Coal Resources (PTH) · PT Avaneesh Coal Resources (PTA) · Reliance Natural Resources Limited (RNRL) · Erstwhile Reliance Fuel Resources Limited ( Erstwhile RFRL) (Refer Note 15 (C) (iii) (c)) · Reliance Natural Resources (Singapore) Pte Limited (RNRL- Singapore) · Reliance Renewable Power Private Limited (RRPPL) (upto 03.03.2012) · Reliance Biomass Power Private Limited (RBPPL) (upto 03.03.2012) · Reliance Solar Resources Power Private Limited (RSRPPL) · Reliance Clean Power Private Limited (RCPPL) · Reliance Tidal Power Private Limited (RTPPL) (upto 03.03.2012) · Reliance Geothermal Power Private Limited (RGTPPL) (upto 03.03.2012) · Reliance Wind Power Private Limited (RWPPL) · Reliance Green Power Private Limited (RGPPL) (upto 03.03.2012 and w.e.f. 11.08.2012) · PT Sumukha Coal Services (PTS) · PT Brayan Bintang Tiga Energi (BBE) · PT Sriwijiya Bintang Tiga Energi (SBE) · Shangling Hydro Power Private Limited (SPPL) · Sumte Kothang Hydro Power Private Limited (SKPL) · Teling Hydro Power Private Limited (TPPL) · Lara Sumta Hydro Power Private Limited (LHPPL) · Purthi Hydro Power Private Limited (PHPPL) |
|
|
|
|
Major investing parties/promoters having significant influence on the
Company directly or indirectly : |
|
|
|
|
|
Others : |
·
BSES Kerala Power
Limited (BKPL), subsidiary of R Infra ·
Reliance Infocomm
Infrastructure Private Limited (RIIPL) ·
Reliance General Insurance Company Limited
(RGICL) ·
Reliance Communication Infrastructure Limited
(RCIL) ·
Reliance Capital Limited (RCL) ·
Reliance Communication Limited (RCom) |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000000 |
Equity Shares |
Rs. 10/- each |
Rs. 110000.000 Millions |
|
5000000000 |
Preference Shares |
Rs. 10/- each |
Rs. 50000.000 Millions |
|
|
TOTAL |
|
Rs. 160000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2805126466 |
Equity Shares |
Rs. 10/- each |
Rs. 28051.300 Millions |
Terms/ rights attached to equity shares
The Company has
only one class of equity shares having par value of Rs.10 per share. Each
holder of the equity share is entitled to one vote per share. In the event of liquidation
of the Company, the holders of equity shares will be entitled to receive the
remaining assets of the Company, after distribution of all preferential amounts
Details of shares held by shareholders holding more than 5% of the
aggregate shares in the Company
|
Particulars |
No. of Shares |
Percentage of share holding |
|
Reliance Infrastructure Limited |
1024448193 |
36.52 |
|
AAA International Capital Private Limited |
267776331 |
9.55 |
|
Reliance Enterprises and Ventures Private Limited |
267776331 |
9.55 |
|
AAA Project Ventures Private Limited |
537387901 |
19.16 |
|
Total |
2097388756 |
74.78 |
Aggregate number of bonus shares issued and shares issued for consideration
other than cash during the five years immediately preceding the reporting date
·
During the year ended March 31, 2009, the Company
had issued 136,800,000 equity shares of Rs.10 each as fully paid bonus shares
by capitalization of Rs. 1368.000 Millions from
securities premium account.
·
During the year ended March 31, 2011, the Company
had issued 408,282,606 equity shares of Rs.10 each fully paid to the
shareholders of Reliance Natural Resources Limited as consideration for
transfer of business undertaking from Reliance Natural Resources Limited under
the composite scheme of arrangement sanctioned by High Court of Bombay on
October 15, 2010.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
28051.300 |
|
(b) Reserves & Surplus |
|
|
140200.600 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
168251.900 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
30.400 |
|
Total Non-current Liabilities (3) |
|
|
30.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
|
18777.800 |
|
(b) Trade payables |
|
|
86.100 |
|
(c) Other current
liabilities |
|
|
322.800 |
|
(d) Short-term provisions |
|
|
7.000 |
|
Total Current Liabilities (4) |
|
|
19193.700 |
|
|
|
|
|
|
TOTAL |
|
|
187476.000 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
823.400 |
|
(ii) Intangible Assets |
|
|
17.400 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
4.100 |
|
(b) Non-current Investments |
|
|
146571.800 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
16499.900 |
|
(e) Other Non-current assets |
|
|
1495.700 |
|
Total Non-Current Assets |
|
|
165412.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
50.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
19.200 |
|
(d) Cash and cash
equivalents |
|
|
5568.200 |
|
(e) Short-term loans
and advances |
|
|
15489.300 |
|
(f) Other current
assets |
|
|
937.000 |
|
Total Current Assets |
|
|
22063.700 |
|
|
|
|
|
|
TOTAL |
|
|
187476.000 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
28051.300 |
28051.300 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
132962.000 |
130914.300 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
161013.300 |
158965.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
2150.000 |
|
|
TOTAL BORROWING |
|
0.000 |
2150.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
161013.300 |
161115.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
912.000 |
856.300 |
|
|
Capital work-in-progress |
|
90.100 |
394.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
96191.200 |
85783.200 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
191.500 |
122.000 |
|
|
Cash & Bank Balances |
|
2059.500 |
9857.500 |
|
|
Other Current Assets |
|
3629.600 |
3650.400 |
|
|
Loans & Advances |
|
60011.800 |
75031.100 |
|
Total
Current Assets |
|
65892.400 |
88661.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
275.700 |
320.900 |
|
|
Other Current Liabilities |
|
1774.800 |
14224.800 |
|
|
Provisions |
|
21.900 |
33.300 |
|
Total
Current Liabilities |
|
2072.400 |
14579.000 |
|
|
Net Current Assets |
|
63820.000 |
74082.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
161013.300 |
161115.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Income
|
120.100 |
661.200 |
363.800 |
|
|
|
Other Income |
2388.400 |
4657.300 |
4351.500 |
|
|
|
TOTAL (A) |
2508.500 |
5318.500 |
4715.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Cost |
476.300 |
386.500 |
606.000 |
|
|
|
Administrative Expenses |
718.900 |
736.300 |
905.600 |
|
|
|
Purchase of coal rejects |
0.000 |
68.900 |
43.300 |
|
|
|
Fuel handling and service charges |
0.000 |
384.700 |
189.100 |
|
|
|
Exceptional Items |
(4072.500) |
|
|
|
|
|
TOTAL (B) |
(2877.300) |
1576.400 |
1744.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5385.800 |
3742.100 |
2971.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
220.600 |
603.400 |
423.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5165.200 |
3138.700 |
2547.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.400 |
29.300 |
11.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5133.800 |
3109.400 |
2536.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(5.500) |
0.800 |
(209.100) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5139.300 |
3108.600 |
2745.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12022.316 |
8913.716 |
6168.216 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17161.616 |
12022.316 |
8913.716 |
|
|
|
|
|
|
|
|
|
|
FOREIGN EXCHANG EARNING
|
142.000 |
67.900 |
28.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.83 |
1.11 |
1.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
204.88 |
58.44
|
58.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4274.60 |
470.26
|
697.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.55 |
4.65
|
2.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.02
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.11 |
0.01
|
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
31.79
|
6.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
363.800 |
661.200 |
120.100 |
|
|
|
81.748 |
(81.836) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
363.800 |
661.200 |
120.100 |
|
Profit After Tax |
2,745.500 |
3,108.600 |
5,139.300 |
|
|
754.67% |
470.15% |
4279.18% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
--------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
--------- |
|
22] |
Litigations that the firm / promoter involved in |
--------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
--------- |
|
26] |
Buyer visit details |
--------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
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 |
Yes |
BUSINESS OPERATIONS
The Company is in the business of setting up
and operating power projects and in the development of coal mines either
directly or through its Subsidiaries. The Company has a large portfolio of
power projects and is also developing coal mines in India and Indonesia. Of the
power projects which the Company is developing through its Subsidiaries, 2,200
MW are already operational while the other power projects are under various
stages of development. The first 660 MW unit of the 6X660 MW Ultra Mega Power
Project (UMPP) being developed by its Subsidiary, Sasan
Power Limited was commissioned towards the close of the financial year. The Sasan Project is the largest integrated power project in
the world with its own captive coal mines to cater to the fuel requirements of
the Plant. The first Unit (300MW) of the Power Plant at Butibori
being developed by its Subsidiary, Vidarbha
Industries Power Limited commenced commercial operations in April 2013.
The second unit of the Butibori
Power Project (Capacity 300 MW) and the Wind Power Project at Vashpet, Maharashtra (Capacity 45
MW) are also expected to be commissioned during the current financial year
which will make the operational capacity 2545 MW.
The year gone by was significant in that the
Company could make significant additions to its capacity.
The portfolio of projects which the Company is
developing is diversified with regard to location, fuel and off-take. The
projects are spread across various states in India and its coal mines are also
located in Indonesia. A major portion of the power generating capacity would be
based on coal as the primary fuel. The others include gas based power projects,
hydro-electric power projects and power projects based on renewable energy
resources such as solar and wind.
OPPORTUNITIES AND THREATS
In the past decade, the government has taken
various initiatives to increase public as well as private investments in the
sector to enhance generation capacity and eliminate power deficit. After
enacting the Electricity Act in 2003, the government has followed up on the
reform agenda with many other policy measures to make power generation
attractive for investors. The Electricity Act, 2003, requires the Central
Electricity Authority (CEA) to lay out the National Electricity Plan once every
five years, revising it from time to time in accordance with the National
Electricity Policy. This Plan serves as a roadmap for accelerated growth of the
power sector. Now 100 per cent Foreign Direct Investment (FDI) is allowed in
generation, transmission and distribution segments. These policy initiatives
have resulted in building up investor confidence in the power sector and
increased participation by the private sector. In order to attract further
private participation in the power sector, the Government of India had
announced the Ultra Mega Power Projects (UMPP) scheme under which the
government would partner with the private sector for developing large power
projects. The policy framework for the power sector encourages developers to
put up power projects to sell power through long term Power Purchase Agreements
(PPAs) at attractive and sustainable returns, and
also to sell power through short term contracts (bilateral contracts) or spot
markets (unscheduled interchange, power exchanges).India needs to substantially
bridge the gap between demand and supply of electricity for sustained economic
growth and to kindle hope in the livesof its people
and to accomplish that, the Country needs all sources of power it can get
access to. Clean energy from renewable sources, apart from being an
environmentally friendly source of power, can also contribute to India’s power
needs. The potential for generating energy from renewable sources in India is
enormous. This potential is currently estimated at 48,500 MW for wind
energy and 25,000 MW for solar. Besides, hydroelectric capacity is estimated at
148,700 MW, of which so far only 25 per cent has become operational.India’s
renewable energy capacity has gone up from 7,761 MW 2007 to 27,542 MW now – a
growth of over 250 per cent in just six years. With fuel shortage staring India
in the face, it has become imperative for the Country to have a focused
strategy for renewable energy. The government has initiated steps in this
direction, including:
·
Policy envisaging that
all states should mandatorily meet Renewable Purchase
Obligations (RPO) of 5 per cent of total generation.
·
Launch of Jawaharlal
Nehru National Solar Mission (JNNSM), which aims to ensure that solar energy
technologies in the Country achieve grid parity by 2022. It has plans for
deployment of 20 GW of solar power by 2022.
·
Imposition of carbon cess
of ` 50 per tonne for all domestic and imported coal
based projects. The funds raised will be utilised to
drive development in the renewable energy sector.
·
Created a framework for issuance and trading
of Renewable Energy Certificates (RECs) which will
allow generators of renewable energy to obtain additional revenuesby
selling these certificates to the distribution Companies With increasing focus
on environment related issues, power projects employing clean and
environment-friendly technology (hydroelectric and other renewable energy
sources) are also earning carbon credits.
·
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 Rs. in Millions |
As on 31.03.2012 Rs. in Millions |
|
Short term
borrowing |
|
|
|
Loan and advance from related party |
|
|
|
-Inter corporate deposits from subsidiaries (interest free and
repayable on demand. |
4657.800 |
0.000 |
|
--Advance against proposed issue of non – convertible debentures
(carries interist rate of 10 % per annum and
repayable within one year from the date of allotment. |
12000.000 |
0.000 |
|
commercial paper (issued at a discount of 10.5% and is to be settled after 180 days) |
2120.000 |
0.000 |
|
Total |
18777.800 |
0.000 |
MANAGEMENT DISCUSSION AND ANALYSIS
FORWARD LOOKING
STATEMENTS
Statements
in this Management Discussion and Analysis of Financial Condition and Results
of Operations of the Company describing the Company's objectives, expectations
or predictions may be forward looking within the meaning of applicable
securities laws and regulations. Forward looking statements are based on
certain assumptions and expectations of future events.
The
Company cannot guarantee that these assumptions and expectations are accurate
or will be realized. The Company assumes no responsibility to publicly amend,
modify or revise forward-looking statements, on the basis of any subsequent
developments, information or events. Actual results may differ materially from
those expressed in the statement. Important factors that could influence the
Company's operations include cost of fuel, determination of tariff and such
other charges and levies by the regulatory authorities, changes in government
regulations, tax laws, economic developments within the Country and such other
factors.
The
financial statements are prepared under historical cost convention, on accrual
basis of accounting, and in accordance with the provisions of the Companies
Act, 1956 (the Act) and comply with the accounting standards notified under
Section 211 (3C) of the Act read with Companies (Accounting Standards) Rules,
2006. The management of Reliance Power Limited ("Reliance Power" or
"the Company") has used estimates and judgments relating to the
financial statements on a prudent and reasonable basis, in order that the
financial statements reflect in a true and fair manner, the state of affairs
and profit for the year.
The
following discussions on their financial condition and result of operations
should be read together with their audited consolidated financial statements
and the notes to these statements included in the Annual Report. Unless otherwise specified or the context otherwise requires, all
references herein to “they", "them", "the", "the
Company”, “Reliance" or "Reliance Power" are to Reliance Power
Limited and/or its subsidiary Companies.
ECONOMIC OUTLOOK
The year 2012-13 turned
out to be a difficult one for the Indian economy as the GDP growth rate fell to
just 5.0 per cent, the lowest in a decade. The slowdown can be attributed both
to domestic and external factors. High fiscal deficit, dependence on foreign inflows
to finance the current account deficit (CAD), lower savings and lower
investment, a tight monetary policy to contain inflation - all contributed to
lowering growth. Global economic growth also fell from 3.9 per cent in 2011 to
3.2 per cent in 2012primarily because of the Euro crisis and uncertainties in
fiscal policy in the US. This further contributed to lowering India's growth.
There was a widespread concern in almost all sectors which were affected by the
slowdown.
However, recent
developments indicate that 2013-14 could turn out to be better. The government
has announced several measures in the recent months to curb fiscal deficit and
improve the financial health of the Country. Falling crude oil prices should
also help in reducing the Current Account Deficit (CAD). Even the RBI has
slowly reduced interest rates to provide impetus to growth. The global economy
has also shown signs of stabilization with improving financial conditions and
investment environment. Improvements in the housing sector and low unemployment
rates in the US led to the Dow Jones Industrial Average reaching an all-time
high in May 2013. Thus, the prospects for 2013-14 look better with projected
GDP growth at 5.5 per cent.
POWER SECTOR
As is widely
acknowledged, there is a very high degree of correlation between power sector
growth and economic growth. Therefore, it is imperative that power sector needs
to grow for sustainable economic growth. The power sector faced a slowdown in
2012-13primarily due to fuel constraints and challenging policy environment.
The growth in electricity generation fell to just 4 per cent in 2012-13
compared to 8.1 per cent in2011-12.
The government is
conscious of the difficulties being faced by the power sector and has
accordingly initiated steps to revive the investment environment in the sector.
A major impediment for the sector has been the undue delay in getting
regulatory clearances due to lengthy decision making process which involve
different ministries both at the Central and State government levels. As a step
towards mitigating these problems, the government has established the Cabinet
Committee on Investment (CCI) which aims to fast track regulatory clearances
and resolve inter-ministerial differences at the Central Cabinet level. This is
expected to significantly reduce the time taken for obtaining clearances.
The government has recognised that, distribution reforms are also critical for
improvement of the financial condition of the power sector. The government has
notified a scheme for Financial Restructuring of the State Distribution
Companies. Once implemented, this scheme is expected to significantly bolster
the financial health of the distribution companies.
Another major problem
plaguing the sector is availability of fuel - both coal as well as gas for
power generation. The government, at the highest levels, has been considering
various measures for improving fuel availability for power plants including
import of coal and gas till domestic production is ramped up. However, the
critical issue has been the modalities for passing on the increased cost of
fuel. The government has been considering various methods including pooling.
Regulators, at the Central and State levels have also been playing an important
role in providing a framework under which mutually acceptable solutions could
be arrived at for the difficult problems being faced by the power sector. In
view of all these measures it is expected that many of the challenges presently
being faced by the power sector would be addressed.
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10486481 |
26/03/2014 |
600,000,000.00 |
IDBI Bank
Limited |
IDBI Bank Limited,
IDBI Tower World Trade Centre |
C01023209 |
|
2 |
10438810 |
16/07/2013 |
1,500,000,000.00 |
AXIS BANK LTD |
Corporate Banking
Branch, Wadia Intl Centre, P.B. Marg,
Worli, Mumbai, Maharashtra
- 400025, India |
B80382955 |
FIXED ASSETS
·
Freehold Land
·
Plant and Machinery
·
Building
·
Furniture and Fixtures
·
Office Equipment
·
Computers
·
Motor Vehicles
WEBSITE DETAILS
MEDIA RELEASE
RELIANCE POWER’S
TOTAL OPERATIONAL CAPACITY REACHES NEARLY 4000 MW
RELIANCE POWER’S
600 MW BUTIBORI POWER PLANT IN MAHARASHTRA IS FULLY OPERATIONAL
POWER BEING
SUPPLIED TO RELIANCE INFRASTRUCTURE LIMITED FOR MUMBAI DISTRIBUTION UNDER LONG-TERM
POWER PURCHASE AGREEMENT FOR 25 YEARS
Mumbai, April 1,
2014: Butibori Power Plant (2 X
300 MW) developed by Vidharbha Industries Power
Limited, a subsidiary of the Reliance Power Limited, is fully operational. The
plant has commenced supplies under the Long Term Power Purchase Agreement for
25 years with Reliance Infrastructure Limited – Mumbai Distribution Licensee.
About Reliance
Power:
Reliance Power Limited, a part of the Reliance Group, is India’s leading
private sector power generation company. The company has the largest portfolio
of power projects in the private sector based on coal, gas, hydro and renewable
energy, with an operating portfolio of 3,865 megawatts. The company also has
the largest captive coal reserves in the private sector, estimated at two
billion tonnes. Besides, the company is developing
three coal mines in Indonesia and is also developing coal bed methane blocks in
India. For more information, please visit www.reliancepower.co.in .
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.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.