MIRA
INFORM REPORT
|
Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NTPC LIMITED |
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Formerly Known
As : |
NATIONAL
THERMAL POWER CORPORATION LIMITED |
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Registered
Office : |
NTPC
Bhawan, Scope Complex, 7, Institutional Area, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.11.1975 |
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Com. Reg. No.: |
55-007966 |
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Capital
Investment / Paid-up Capital : |
Rs. 82454.600 Millions |
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CIN No.: [Company Identification
No.] |
L40101DL1975GOI007966 |
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TAN No.: [Tax Deduction and
Collection Account No.] |
DELN11894B/ DELN05281D |
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PAN No.: [Permanent Account No.] |
AAACN0255D |
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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
: |
Subject is engaged in the business of Generation and Sale of Bulk Power and also Providing Consultancy, Project Management and Supervision, Oil and Gas Exploration and Coal Mining. |
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No. of Employees
: |
Not Divulged |
RATING and COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
USD 3265000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an old and well-established company having excellent track
record. The rating reflects NTPC’s dominant position in India’s regulated
power generation sector supported by strong business and financial risk
profiles and strategic importance to the Government of India. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “AAA” |
|
Rating Explanation |
High degree of safety and carry lowest credit risk. |
|
Date |
19.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1+” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
19.02.2014 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No. : 91-11-243878381)
LOCATIONS
|
Registered
Office : |
NTPC Bhawan, Scope Complex, 7, Institutional Area, Lodhi Road, New
Delhi – 110003, India |
|
Tel. No.: |
91-11-24361557/ 24361012/ 24360100/ 24387001 (10 Lines) |
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Fax No.: |
91-11-24368417/ 24361018 |
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E-Mail : |
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Website : |
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NTPC Regional
Offices: |
R and D, Centre, 8A, Sector - 24, Noida - 201301, District Ghaziabad,
Uttar Pradesh, India Engineering
office complex Plot NO. 8A, Sector -16A, Noida - 201301, District Ghaziabad, Uttar
Pradesh, India Power management
institute Plot No. 5 to 14, Sector - 16A, Noida - 201301, District Ghaziabad,
Uttar Pradesh, India Website: http://www.pmintpc.com Consultancy wing Core No.6, 7th Floor, Scope Complex, 7, Lodi Road, New Delhi, India Tel. No.: 91-11-24360100/24361097/24361665/24365812/24362009 Fax. No.: 91-11-24361903/24360910/24360898 Center satellite earth station (cces) Pipeline Road, Muradnagar, Distt. Ghaxiabad - 201206, Uttar Pradesh,
India Tel. No.: 91-118-241285 |
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Corporate Office
: |
Core 5, Second Floor, SCOPE Complex, Lodhi Road, New Delhi – 110003,
India |
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Tel. No.: |
91-11-24365088 |
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Fax No.: |
91-11-24361903 / 3064 / 1781 |
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Regional
Headquarters : |
Eastern Region 2nd Floor, Alankar Place, Boring Road, Patna - 800001,
Bihar, India Tel. No. 91-612-2232127 Fax. No. 91-612-2230758/2230035 E-mail: ntpcer@vsnl.com National Capital
Region
Tel. No.: 91-118-24410333 (10 Lines)/ 24410133 (5 Lines)/ 24410116(5
Lines) Fax. No.: 91-118-24410311 Northern Region 1st Floor, B-1, Block Picup, Bhawan Vibhuti, Khand, Gomti
Nagar, Lucknow-226010, Uttar Pradesh, India Tel. No.: 91-522-2395870/2394630/2395604 Fax. No.: 91-522-2398941/2391816 Sangam Place, 5th Floor, Civil Lines, Allahabad - 211002, Uttar
Pradesh, India Tel. No.: 91-532-2621989/2621990/2621984 Fax. No.: 91-532-2621981 E-mail.: ntpc/allahabad@dartmail.dolnet.com
2nd and 5th Floors, M.C.H. Complex, R.P. Road,
Secunderabad - 500003, Andhra Pradesh, India Tel. No.: 91-40-27717267-70 Fax. No.: 91-40-27800743/27804516 E-mail.: ntpcsr@ap.nic.in Western Region Samruddhi Trade Centre, 2nd Floor, MIDC, Marol Andheri (East), Mumbai
- 400093, Maharashtra, India Tel. No.: 91-22-28310213/28227762/28310214/28209197 Fax. No.: 91-22-28310218/28310219 |
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National Capital
Region (NCR-HQ) : |
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Thermal
Power Stations : |
· Badarpur Thermal Power Station- Badarpur, New Delhi, India National
Capital Thermal Power Project- Distt. Gautum Budh Nagar, Uttar Pradesh, India |
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Gas
Power Stations : |
· Anta Gas Power Project – Distt. Baran, Rajasthan, India Auraiya
Gas Power Project – Distt. Auraiya, Uttar Pradesh, India Faridabad
Gas Power Project – Distt. Faridabad, Haryana, India National
Capital Power Project- Distt. Gautum Budh Nagar, Uttar Pradesh, India |
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Eastern Region
(ER-HQ)- I: |
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Thermal
Power Stations : |
· Barh Super Thermal Power Project- Distt. Patna, Bihar, Uttar Pradesh, India Farakka
Super Thermal Power Station – Distt. Murshidabad, West Bengal, India Kahalgaon
Super Thermal Power Project- Distt. Bhagalpur, Bihar, India North
Karanpura Super Thermal Power Project – Hazaribagh, Jharkhand, India |
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Eastern Region
(ER-HQ)- II : |
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Thermal
Power Stations : |
· Talcher Super Thermal Power Station- Distt. Angul, Odisha, India Talcher
Thermal Power Station- Distt. Angul, Odisha, India Bongaigaon
Thermal Power Project, Distt. Kokrajhar, Assam, India Gajamara
Super Thermal Power Project, Distt. Dhenkanal, Odisha, India Darlipalli
Super Thermal Power Project, Distt. Sundergarh, Jharsuguda, Odisha, India |
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Northern Region
(NR-HQ) : |
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Thermal
Power Stations : |
· Feroze Gandhi Unchahar Thermal Power Station – Distt. Raebareli, Uttar Pradesh, India Rihand
Super Thermal Power Project – Distt. Sonebhadra, Uttar Pradesh, India Singrauli
Super Thermal Power Station – Distt. Sonebhadra, Uttar Pradesh, India Tanda
Thermal Power Station- Distt. Ambedkar Nagar, Uttar Pradesh, India Bilhaur
Super Thermal Power Project, Distt. Kanpur, Uttar Pradesh, India |
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Southern Region
(SR-HQ) : |
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Thermal
Power Stations : |
· Ramagundam Super Thermal Power Station, 4th Floor, Administrative Building, Distt. Karim Nagar - 505215, Andhra Pradesh, India Simhadri
Super Thermal Power Project- Vishakapatnam, Andhra Pradesh, India Kudgi
Thermal Power Project, Bijapur, Karnataka, India |
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Gas
Power Stations : |
Rajiv Gandhi Combined Cycle Power Project – Distt. Alappuzha, Kerala,
India |
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Wind Energy
Project, Belgaum, Karnataka Western Region
(WR-HQ)-I: |
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Thermal
Power Stations : |
· Solapur Super Thermal Power Project – Solapur, Maharashtra, India Mouda
Super Thermal Power Project – Nagpur, Maharashtra, India |
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Gas
Power Stations : |
· Jhanor Gandhar Gas Power Project- Distt. Bharuch, Gujarat, India Kawas
Gas Power Project- Aditya Nagar, Surat, Gujarat, India |
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Western Region (WR-HQ)-II Thermal
Power Stations : |
· Korba Super Thermal Power Station- Distt. Korba, Chhattisgarh, India Sipat
Super Thermal Power Project-Distt. Bilaspur, Chattisgarh, India Vindhyachal
Super Thermal Power Station- Distt. Sidhi, Madhya Pradesh, India Gadarwara
Super Thermal Power Project, Kandeli-Narsinghpur, Madhya Pradesh, India Lara
Super Thermal Power Project, Distt. Raigarh, Chattisgarh, India Khargone
Super Thermal Power Project, Khargone, Madhya Pradesh, India |
DIRECTORS
As on 31.03.2013
|
Name : |
S.C. Pandey |
|
Designation : |
Executive Director |
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Name : |
G.J. Deshpande |
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Designation : |
Executive Director |
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Name : |
Anil Kumar Ahuja |
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Designation : |
Executive Director |
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Name : |
A. C. Chaturvedi |
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Designation : |
Executive Director |
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Name : |
Sharad Anand |
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Designation : |
Executive Director |
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Name : |
Virendra Kumar Gupta |
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Designation : |
Executive Director |
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Name : |
R. Venkateswaran |
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Designation : |
Executive Director |
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Name : |
M.K.V.R. Rao |
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Designation : |
Executive Director |
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Name : |
S.N. Ganguly |
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Designation : |
Executive Director |
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Name : |
Saptarshi Roy |
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Designation : |
Executive Director |
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Name : |
M.S.Soin |
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Designation : |
Executive Director |
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Name : |
Dinesh Kumar Agarwal |
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Designation : |
Executive Director |
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Name : |
Manash Sarkar |
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Designation : |
Executive Director |
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Name : |
Dr. Arja Srikanth - on deputation from Railways |
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Designation : |
Executive Director |
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Name : |
Anand Kumar - IPS Officer on deputation |
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Designation : |
Executive Director |
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Name : |
A.K. Chatterjee |
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Designation : |
Executive Director |
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Name : |
A.K.Sharma |
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Designation : |
Executive Director |
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Name : |
Y.V.Rao |
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Designation : |
Executive Director |
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|
Name : |
Thomas Joseph |
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Designation : |
Executive Director |
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|
Name : |
Anil Gupta |
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Designation : |
Executive Director |
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|
Name : |
G.K.Sadhu |
|
Designation : |
Executive Director |
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|
Name : |
K.S.Garbyal |
|
Designation : |
Executive Director |
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|
Name : |
Anand Kumar Gupta |
|
Designation : |
Executive Director |
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|
Name : |
Ajit Kumar |
|
Designation : |
Executive Director |
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|
Name : |
G. Ravindra |
|
Designation : |
Executive Director |
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|
Name : |
Sudhir Arya |
|
Designation : |
Executive Director |
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Name : |
S.J.Muley |
|
Designation : |
Executive Director |
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Name : |
H.K.Sandhir |
|
Designation : |
Executive Director |
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|
Name : |
V.B Fadnavis |
|
Designation : |
Executive Director |
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|
Name : |
Nand Kishore Sharma |
|
Designation : |
Executive Director |
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|
Name : |
K.K.Sharma |
|
Designation : |
Executive Director |
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|
Name : |
Arvind Kumar |
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Designation : |
Executive Director |
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|
Name : |
Vinod Sharma |
|
Designation : |
Executive Director |
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Name : |
R.K.Srivastava |
|
Designation : |
Executive Director |
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Name : |
K.K.Singh |
|
Designation : |
Executive Director |
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Name : |
Janardan Kar - On depu. to CSPGCL |
|
Designation : |
Executive Director |
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Name : |
R. N. Sen - On depu. to DVC |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. A. K. Rastogi |
|
Designation : |
Company Secretary |
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|
General Manager |
· Biswanath Mukherjee Dinesh
Agrawal Rakesh
Khetarpal Anuttam
Chaudhuri Narayanan
Kannan A.K.
Mohindru V.K.C.
Mohan S.P.
Singh D.
Saha Sangeet
Kumar Dave S.K.
Singh Shashi
Ranjan P.
Ramesh R.S.Rathee Janhvi
Shanker P.R.
Dahake Dushyant
Kumar Sood P.K.
Mohapatra J.N.
Singh Anil
Kumar Rastogi A.
Upendra Rao Devraj
Bhattacharjee Anil
Kumar Chander
Prakash Malik Pradeep
Bhaskar Behere Joseph
Kurian Govinda
Chandra Mishra Sankar
Bandyopadhyay GourDas
Basu P.S.
Radhakrishnan Vinod
Kumar Padha Sanjay
Kumar Sur Inder
Kumar Rajdeva P.S.
Rao S.K.
Jain Ramkrishna
Pal S.K.
Patnaik Arvind
Kumar Sinha S.K.
Roy Arun
Kumar Sinha Devashis
Basu Subhasis
Ghosh Nageen
Kumar Kothari Pramod
Kumar V.
Thangapandian Ajit
Kumar Bhatnagar R.R.
Shrivastava Arun
Prakash Trivedi Rajiv
Kumar Jain Jaiwant
Pesumal Sachdev Dilip
Singh Manki Ramahuj
Mishra Dileep
Mathur Asit
Baran Halder Sure
Krishna Reddy Harbans
Singh Dilip
Kumar Dubey P.K.Bhattacharya Ajay
Kumar Atrea Satinder
Pal Singh Kothandaraman
Sreedhar |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
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|
6180614980 |
74.96 |
|
|
6180614980 |
74.96 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
6180614980 |
74.96 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
45727092 |
0.55 |
|
|
808029879 |
9.80 |
|
|
103955567 |
1.26 |
|
|
878974326 |
10.66 |
|
|
1836686864 |
22.28 |
|
|
|
|
|
|
43730518 |
0.53 |
|
|
|
|
|
|
154253050 |
1.87 |
|
|
17714891 |
0.21 |
|
|
12464097 |
0.15 |
|
|
4991814 |
0.06 |
|
|
4572235 |
0.06 |
|
|
1500 |
0.00 |
|
|
2590 |
0.00 |
|
|
21543 |
0.00 |
|
|
2874415 |
0.03 |
|
|
228162556 |
2.77 |
|
Total Public shareholding (B) |
2064849420 |
25.04 |
|
Total (A)+(B) |
8245464400 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
8245464400 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Generation and Sale of Bulk Power and also Providing Consultancy, Project Management and Supervision, Oil and Gas Exploration and Coal Mining. |
|
|
|
|
Products/ Services : |
· Generation of Electricity Consultancy
Services Management
of Power Stations |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||
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|
||||||||||||
|
Bankers : |
· Allahabad Bank Andhra
Bank Bank
of India Canara
Bank Central
Bank of India Citi
Bank, NA Dena
Bank Indian
Overseas Bank ICICI
Bank Limited IDBI
Bank Limited Jammu
and Kashmir Bank Limited Oriental
Bank of Commerce Punjab
National Bank Punjab
and Sind Bank State
Bank of Bikaner and Jaipur State
Bank of Mysore State
Bank of Hyderabad State
Bank of India State
Bank of Patiala State
Bank of Travancore UCO
Bank Union
Bank of India United
Bank of India Vijaya
Bank |
||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
O. P. Bagla and Company Chartered Accountants K. K. Soni and Company Chartered Accountants PKF Sridhar and Santhanam Chartered Accountants V. Sankar Aiyar and Company Chartered Accountants Ramesh C. Agrawal and Company Chartered Accountants A.R. and Company Chartered Accountants |
|
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|
Subsidiaries : (As on 31.03.2013) |
· NTPC Electric Supply Company Limited NTPC
Hydro Limited NTPC
Vidyut Vyapar Nigam Limited Kanti
Bijlee Utpadan Nigam Limited Bhartiya
Rail Bijlee Company Limited |
|
|
|
|
Joint Venture : (As on 31.03.2013) |
· Utility Powertech Limited NTPC-Alstom
Power Services Private Limited BF-NTPC
Energy Systems Limited Pan-Asian
Renewables Private Limited Trincomalee
Power Company Limited Bangladesh-India
Friendship Power Company Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000000 |
Equity Shares |
Rs.10/- each |
Rs. 100000.000 Millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8245464400 |
Equity Shares |
Rs.10/- each |
Rs. 82454.600 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
82454.600 |
82454.600 |
82454.600 |
|
(b) Reserves and Surplus |
775698.600 |
721420.500 |
650457.100 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
(3) Deferred Revenue |
16098.800 |
12440.500 |
14300.600 |
|
Total
Shareholders’ Funds (1) + (2) |
874252.000 |
816315.600 |
747212.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
624057.500 |
532536.600 |
459082.700 |
|
(b) Deferred tax liabilities (Net) |
10516.100 |
9153.000 |
6369.000 |
|
(c) Other long term liabilities |
25124.600 |
19659.900 |
17290.600 |
|
(d) long-term provisions |
8793.600 |
7399.200 |
6037.000 |
|
Total Non-current Liabilities (3) |
668491.800 |
568748.700 |
488779.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
66333.400 |
51587.700 |
44606.500 |
|
(c) Other current
liabilities |
113438.600 |
104467.200 |
95372.400 |
|
(d) Short-term provisions |
73026.000 |
70045.400 |
32336.900 |
|
Total Current Liabilities (4) |
252798.000 |
226100.300 |
172315.800 |
|
|
|
|
|
|
TOTAL |
1795541.800 |
1611164.600 |
1408307.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
|
|
|
|
|
(i) Tangible assets |
|
626874.200 |
450444.700 |
|
(ii) Intangible Assets |
|
2486.800 |
2118.900 |
|
(iii) Capital
work-in-progress |
1169995.000 |
371094.200 |
418278.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.400 |
|
(b) Non-current Investments |
81209.000 |
91376.400 |
95839.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
127762.200 |
96334.500 |
53943.500 |
|
(e) Other Non-current assets |
17867.700 |
11327.700 |
13718.800 |
|
Total Non-Current Assets |
1396833.900 |
1199493.800 |
1034343.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
16369.600 |
16224.600 |
16224.600 |
|
(b) Inventories |
53733.500 |
40571.900 |
37028.500 |
|
(c) Trade receivables |
52200.800 |
53654.900 |
58325.100 |
|
(d) Cash and cash
equivalents |
153113.700 |
168677.000 |
161418.300 |
|
(e) Short-term loans and
advances |
31170.800 |
17455.300 |
15433.200 |
|
(f) Other current assets |
92119.500 |
115087.100 |
85534.000 |
|
Total Current Assets |
398707.900 |
411670.800 |
373963.700 |
|
|
|
|
|
|
TOTAL |
1795541.800 |
1611164.600 |
1408307.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
720189.300 |
656739.300 |
620522.300 |
|
|
|
Other Income |
26888.900 |
31015.800 |
27896.500 |
|
|
|
TOTAL (A) |
747078.200 |
687755.100 |
648418.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Fuel |
458297.100 |
410182.500 |
416354.600 |
|
|
|
Employee benefits expense |
38679.900 |
33601.200 |
31017.100 |
|
|
|
Generation, administration and other expenses |
45566.900 |
42112.200 |
35887.900 |
|
|
|
Prior period items (net) |
0.000 |
(297.200) |
(3135.800) |
|
|
|
Exceptional items |
0.000 |
(16841.100) |
0.000 |
|
|
|
TOTAL (B) |
542543.900 |
468757.600 |
480123.800 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
204534.300 |
218997.500 |
168295.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24065.900 |
19243.600 |
17116.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
180468.400 |
199753.900 |
151178.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41421.900 |
33967.600 |
27917.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
139046.500 |
165786.300 |
123261.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29299.100 |
39592.400 |
31024.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
109747.400 |
126193.900 |
92237.300 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5212.400 |
721.400 |
324.500 |
|
|
|
|
|
|
|
|
|
|
WRITE BACK FROM
BOND REDEMPTION RESERVE |
NA |
3465.000 |
3250.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Bonds Redemption Reserve |
NA |
4927.900 |
4823.800 |
|
|
|
Transfer to Capital Reserve |
NA |
9.700 |
4.400 |
|
|
|
Transfer to General Reserve |
NA |
65000.000 |
52000.000 |
|
|
|
Dividend - Interim |
NA |
30920.700 |
28859.200 |
|
|
|
- Final (Proposed) |
NA |
16490.900 |
4122.700 |
|
|
|
Tax on Dividend - Interim |
NA |
5016.100 |
4650.900 |
|
|
|
- Final |
NA |
2802.600 |
628.300 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
5212.400 |
721.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Professional and Consultancy fee |
NA |
21.500 |
24.800 |
|
|
|
Other Earnings |
NA |
1.000 |
2.800 |
|
|
TOTAL EARNINGS |
NA |
22.500 |
27.600 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
10090.500 |
8803.400 |
|
|
|
Spare Parts |
NA |
1244.400 |
1900.900 |
|
|
TOTAL IMPORTS |
NA |
11334.900 |
10704.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
13.31 |
15.30 |
11.19 |
|
NOTE
1. The above results have been reviewed by the Audit Committee of the Board of Directors in their meeting held on May 15, 2014 and approved by the Board of Directors in the meeting held on the same day.
2. a. The Central Electricity Regulatory Commission (CERC) notified the Tariff
Regulations, 2009 in January 2009, and First, Second and Third Amendments
thereto in May 2011, June 2011 and December 2012 respectively (Regulations,
2009). In line with the Regulations, 2009, the CERC has issued provisional / final
tariff orders w.e.f. April 01, 2009 for all the stations except for four
stations. Beneficiaries are billed in accordance with the said provisional /
final tariff orders except for four stations where it is done on provisional
basis. The amount billed for the year ended March 31, 2014 on this basis is Rs.
687040.300 Millions (previous year Rs. 617946.800 Millions).
b. In respect of stations for which the CERC has issued final tariff orders
under the Regulations, 2009 and Renewable Energy Regulations, 2009, sales have
been recognised at Rs. 662094.200 Millions for the year ended March 31, 2014
(previous year Rs. 616502.300 Millions) after truing up capital expenditure to
arrive at the capacity charges. For other stations, pending determination of
station-wise final tariff by the CERC, sales have been provisionally recognised
at Rs. 33867.000 Millions for the year ended March 31, 2014 (previous year Rs.
9982.400 Millions) on the basis of principles enunciated in the said
Regulations, 2009 after truing-up capital expenditure to arrive at the capacity
charges.
c. Sales include Rs. 20868.200 Millions for the year ended March 31, 2014
(previous year Rs. 12419.000 Millions) pertaining to previous years recognized
based on the orders issued by the CERC / Appellate Tribunal for Electricity
(APTEL).
d. Sales include (-) Rs. 2699.900 Millions for the year ended March 31, 2014
(previous year Rs. 2460.400 Millions) on account of income-tax recoverable from
the beneficiaries as per Regulations, 2004. Sales also include RS. 770.200
Millions for the year ended March 31, 2014 (previous year Rs. 531.600 Millions)
on account of deferred tax materialized which is recoverable from beneficiaries
as per Regulations, 2009.
3. Provision for current tax for the year includes tax related to earlier years
amounting to (-) Rs. 4369.600 Millions (previous year (-) Rs. 1588.500
Millions).
4. During the year, one unit of 500 MW each at Vindhyachal w.e.f. March 27,
2014, Rihand w.e.f. March 27, 2014, Mauda w.e.f. March 30, 2014 have been
declared commercial. Further, Solar PV Power Stations of 10 MW each at
Ramagundam w.e.f. January 29, 2014, Talcher Super w.e.f March 28, 2014,
Unchahar w.e.f. March 31, 2014, 30 MW at Rajgarh w.e.f. March 31, 2014 and 5 MW
at Faridabad w.e.f. March 31, 2014 have also been declared commercial.
5. During the year, the Company made public issue of tax free bonds of Rs.
1,750 crore pursuant to Notification dated August 08, 2013 issued by the
Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, GOI.
The Company has utilised the issue proceeds as per the objects of the issue
stated in the prospectus dated November 25, 2013 i.e. funding of capital
expenditure and refinancing for meeting the debt requirement in ongoing
projects, including recoupment of expenditure already incurred.
6. Due to variation in the Gross Calorific Value (GCV) of coal supplied by coal
companies and received at power stations, the Company w.e.f. October / November
2012 released payments on the basis of GCV measured at station end and the
difference between the amount billed by the coal companies and the amounts
admitted by the Company (“disputed billed amount") were disclosed as
contingent liability with corresponding possible reimbursements from the
beneficiaries. The issue was taken up with the coal companies directly and
through the Ministry of Power and Ministry of Coal, Govt, of India for
resolution. This resulted in incorporation of a provision for “Third party
sample collection, preparation, testing and analysis" at the loading end
in place of joint sampling in the Coal Supply Agreement (CSA), 2012 and
amendment to CSA, 2009 which have since been signed with subsidiaries of Coal
India Ltd. (CIL)
Based on the advice of Government of India, Board of Directors approved the
modalities for extrapolation of the third party sample analysis results for the
three month period starting October / November 2013 to the supplies during the
past period from October / November 2012 till start of third party sampling. On
this basis, settlement with some of the CIL subsidiaries has been reached and
matter has been taken up with other CIL subsidiaries for early resolution.
Following the principles approved by the Board, against the disputed billed
amount of Rs. 41028.700 Millions, during the year the Company paid Rs.
14386.900 Millions and provided Rs. 14403.900 Millions. In respect of the
balance disputed billed amount of Rs. 12237.900 Millions as at March 31, 2014,
taking into account settlements already reached with some of the CIL
subsidiaries, an amount of Rs. 10551.400 Millions (previous year Rs. 25311.000
Millions) has been estimated as contingent liability with corresponding
possible reimbursements from the beneficiaries and the remaining amount of Rs.
1686.500 Millions is considered as settled. Sales corresponding to variable
charges recoverable for the amounts paid / provided as above have been
recognized.
7. During the previous quarter, a defined contribution pension scheme of the
Company has been implemented effective from January 07, 2007. Employee benefits
expense for the year include Rs. 3465.600 Millions as additional contribution
for the period from January 01, 2007 to March 31, 2013.
8. During the year, NTPC Hydro Ltd. (a wholly owned subsidiary of the Company)
has been merged with the Company consequent to the order of Ministry of
Corporate Affairs, Government of India w.e.f. April 01, 2013.The merger does
not have any material impact on the profits of the Company.
9. Claims recoverable as at March 31, 2014 include Rs. 4260.000 Millions
(previous year Rs. 8947.200 Millions) recoverable from Government of India
(GOI) towards the cost incurred in respect of one of the hydro power projects,
the construction of which has been discontinued on the advice of the Ministry of
Power, GOI. During the year, a payment of Rs. 5363.000 Millions has been
received from GOI on this account in the first phase. Management expects that
the total cost incurred, anticipated expenditure on the safety and
stabilisation measures, other recurring site expenses and interest costs as
well as claims of contractors / vendors for various packages for this project
will be compensated in full by the GOI. Hence, no provision is considered
necessary.
10. The environmental clearance ('clearance') granted by the Ministry of
Environment and Forest, Government of India (MoEF) for one of the Company's
project was challenged before the National Green Tribunal (NGT). The NGT
disposed the appeal, inter alia, directing that the order of clearance be
remanded to the MoEF to pass an order granting or declining clearance to the
project proponent afresh in accordance with the law and the judgment of the NGT
and for referring the matter to the Expert Appraisal Committee ('Committee')
for its re-scrutiny, which shall complete the process within six months from
the date of NGT order. NGT also directed that the environmental clearance shall
be kept in abeyance and the Company shall maintain status quo in relation to
the project during the period of review by the Committee or till fresh order is
passed by the MoEF, whichever is earlier. The Company filed an appeal
challenging the NGT order before the Hon'ble Supreme Court of India which
stayed the order of the NGT and the matter is sub-judice. Aggregate cost
incurred on the project upto March 31, 2014 is Rs. 44557.300 Millions (previous
year Rs. 16916.300 Millions).
11. During the quarter, the Company has paid an interim dividend of Rs. 4.00
per equity share (face value Rs. 10/-each) for the year 2013-14. The Board of
Directors has recommended final dividend of Rs. 1.75 per equity share (face
value Rs. 10/- each). The total dividend (including interim dividend) for the
financial year 2013-14 is Rs. 5.75 per equity share (face value Rs. 10/-each).
12. The audited accounts are subject to review by Comptroller and Auditor
General of India under Section 619(4) of the Companies Act, 1956.
13. Formula used for computation of coverage ratios DSCR = Earning before Interest,
Depreciation, Tax and Exceptional items /(Interest net of transferred to
expenditure during construction + Principal repayment) and ISCR = Earning
before Interest, Depreciation, Tax and Exceptional items / (interest net of
transferred to expenditure during construction).
14. Previous periods / year’s figures have been regrouped / rearranged wherever
necessary.
15. Figures of last quarter are the balancing figures between audited figures
in respect of the full financial year and the published year to date figures
upto the third quarter of the current financial year.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
14.69 |
18.35 |
14.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.31 |
25.24 |
19.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
25.54 |
14.43 |
13.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.20 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.71 |
0.65 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.82 |
2.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
82454.600 |
82454.600 |
82454.600 |
|
Reserves & Surplus |
650457.100 |
721420.500 |
775698.600 |
|
Deferred Revenue |
14300.6 |
12440.5 |
16098.8 |
|
Net
worth |
747212.300 |
816315.600 |
874252.000 |
|
|
|
|
|
|
long-term borrowings |
459082.700 |
532536.600 |
624057.500 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
459082.700 |
532536.600 |
624057.500 |
|
Debt/Equity
ratio |
0.614 |
0.652 |
0.714 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
620522.300 |
656739.300 |
720189.300 |
|
|
|
5.837 |
9.661 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
620522.300 |
656739.300 |
720189.300 |
|
Profit |
92237.300 |
126193.900 |
109747.400 |
|
|
14.86% |
19.22% |
15.24% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
Yes |
LITIGATION
DETAILS
IN THE HIGH COURT OF
DELHI AT NEW DELHI
O.M.P. 479/2011
SPML INFRA LIMITED ..... Petitioner
Through: Mr. Rakesh Sinha and Mr. Samrat
Sengupta, Advs.
versus
NTPC LIMITED ..... Respondent
Through: Mr. Bharat Sangal and Ms. I. Abenta Aiers, Advs.
CORAM:
HON'BLE MR. JUSTICE MANMOHAN SINGH
ORDER
12.05.2014
Learned counsel for the respondent has produced the letter dated 7th May, 2014
which indicates that Justice G.N. Ray, (former Judge, Supreme Court
of India) is appointed as sole Arbitrator. Counsel states that
since the Supreme Court has stayed the arbitration proceedings by
order dated 14th January, 2011, the application before the Sole
Arbitrator, in these circumstances, cannot be moved by the
petitioner. Learned counsel for the petitioner states that he will
move the appropriate application, if necessary, within two weeks otherwise
he will press the application filed in the present petition.
Renotify on 28th July, 2014.
MANMOHAN SINGH, J.
MAY 12, 2014/nk
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10495600 |
03/05/2014 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
C03722618 |
|
2 |
10501963 |
03/05/2014 |
7,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG |
C03722915 |
|
3 |
10465479 |
10/12/2013 |
17,500,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B91335646 |
|
4 |
10429728 |
04/05/2013 |
5,000,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B74907619 |
|
5 |
10382985 |
15/10/2012 |
4,650,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, MAHARASHTRA
|
B59981050 |
|
6 |
10367677 |
30/07/2012 |
5,750,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B44534576 |
|
7 |
10342964 |
16/03/2012 |
6,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B35070085 |
|
8 |
10304274 |
25/08/2011 |
1,800,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B19625060 |
|
9 |
10291216 |
13/06/2011 |
750,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B14607170 |
|
10 |
10273106 |
16/03/2011 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B08475543 |
|
11 |
10238347 |
31/08/2010 |
3,450,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A93591436 |
|
12 |
10222198 |
28/05/2010 |
8,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A86464609 |
|
13 |
10165760 |
08/07/2009 |
7,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A65451700 |
|
14 |
10139748 |
29/01/2009 |
20,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG, BA |
A55618680 |
|
15 |
10089840 |
27/02/2008 |
10,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI- 400 001., MAHARASHTRA, INDIA |
A33320375 |
|
16 |
10042089 |
27/03/2007 |
15,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI- 400001., MAHARASHTRA - 400001, INDIA |
A12399333 |
|
17 |
10000160 |
23/03/2006 |
10,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R KAMANI MARG, |
A00055962 |
|
18 |
90051612 |
10/06/2005 * |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
10 FLOOR ; NARIMAN BHAVAN, 227 ; VINAY K SHAH MARG ; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
19 |
90044130 |
23/03/2005 * |
500,000,000.00 |
ILANDFS TRUST COMPANY LIMITED |
ILANDFS FINANCIAL
CENTRE; PLOT; C-22; BLOCK G, BAND |
- |
|
20 |
90048988 |
20/01/2004 * |
1,500,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL CENTRE ; PLOT C - 22, BLOCK G; BANDRA-KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
21 |
90043638 |
23/03/2005 * |
15,000,000,000.00 |
ILANDFS TRUST COMPANY LIMITED |
ILANDFS FINANCIAL CENTRE; PLOT; C-22; BLOCK G, BANDRA-KURLA COMPLEX; BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
22 |
90040356 |
28/02/2013 * |
50,000,000,000.00 |
STATE BANK OF INDIA |
JAWAHAR VYAPAR BHAWAN, 11TH AND 12TH FLOOR, 1 TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B70351135 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
Bonds |
3000.000 |
|
Foreign Currency
notes |
|
|
4.75% Fixed rate notes due for repayment on 3rd October 2022 |
27455.000 |
|
Foreign Currency 5.625 % Fixed rate noted due for repayment on 14th July
2021 |
27455.000 |
|
Foreign Currency 5.875 % Fixed rate notes due for repayment on 2nd March
2016 |
16473.000 |
|
Term Loan - From
Banks |
|
|
Foreign Currency Loans |
47667.000 |
|
Rupee Loans |
138849.000 |
|
From Others |
|
|
Foreign Currency loan (guaranteed by GOI) |
26040.900 |
|
Other foreign currency loans |
18645.500 |
|
Rupee loans |
130905.500 |
|
Deposits Fixed Deposts |
5.200 |
|
Bonds application money pending allottment |
2000.000 |
|
Total |
438496.100 |
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
a) Claims against the company not acknowledged as debts in respect of:
(i) Capital Works
Some of the contractors for supply and installation of equipments and execution of works at our projects have lodged claims on the Company for Rs. 39661.100 Millions (previous year Rs. 44272.700 Millions) seeking enhancement of the contract price, revision of work schedule with price escalation, compensation for the extended period of work, idle charges etc. These claims are being contested by the Company as being not admissible in terms of the provisions of the respective contracts.
The Company is pursuing various options under the dispute resolution mechanism available in the contracts for settlement of these claims. It is not practicable to make a realistic estimate of the outflow of resources if any, for settlement of such claims pending resolution.
(ii) Land compensation cases
In respect of land acquired for the projects, the land losers have claimed higher compensation before various authorities/courts which are yet to be settled. In such cases, contingent liability of Rs. 7475.400 Millions (previous year Rs. 1,1735.800 Millions) has been estimated.
(iii) Fuel Suppliers
Pending resolution of the issues with coal companies as disclosed in Note 33, payments and accounting of coal are being made based on GCV ascertained at station end. The difference between the amount billed by the coal companies and the payment released by the company amounts to Rs. 25311.000 Millions (previous year Rs. Nil).
Further, an amount of Rs. 3677.300 Millions (previous year Rs. 4006.300 Millions) towards surface transportation charges, customs duty on service margin on imported coal etc. has been disputed by the Company.
(iv) Others
In respect of claims made by various State/Central Government departments/Authorities towards building permission fee, penalty on diversion of agricultural land to non-agricultural use, nala tax, water royalty etc. and by others, contingent liability of Rs. 8628.100 Millions (previous year Rs. 8774.700 Millions) has been estimated.
(v) Possible Reimbursement
The contingent liabilities referred to in (i) above, include an amount of Rs. 9612.400 Millions (previous year Rs. 17697.000 Millions) relating to the hydro power project stated in Note 21 b) - Other current assets, for which Company envisages possible reimbursement from GOI in full. In respect of balance claims included in (i) and in respect of the claims mentioned at (ii) above, payments, if any, by the company on settlement of the claims would be eligible for inclusion in the capital cost for the purpose of determination of tariff as per CERC Regulations subject to prudence check by the CERC. In case of (iii), the estimated possible reimbursement is by way of recovery through tariff as per Regulations, 2009 is Rs. 27920.600 Millions (previous year Rs. 2834.500 Millions).
b) Disputed Income Tax/Sales Tax/Excise Matters
Disputed Income Tax/Sales Tax/Excise matters pending before various Appellate Authorities amount to Rs. 1,5476.100 Millions (previous year Rs. 3,0386.300 Millions). Many of these matters were disposed off in favour of the Company but are disputed before higher authorities by the concerned departments. In such cases, the company estimate possible reimbursement of Rs. 3651.900 Millions (previous year Rs. 21115.400 Millions).
c) Others
Other contingent liabilities amount to Rs. 2522.000 Millions (previous year Rs. 3169.300 Millions).
Some of the beneficiaries have filed appeals against the tariff orders of the CERC. The amount of contingent liability in this regard is not ascertainable.
FIXED ASSETS
Tangible Assets
Land
Building
Temporary
Erection
Water
supply, Drainage and Sewerage System
MGR
track and Signalling System
Railway
siding
Earth
dam Reservoir
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
EDP,
WP Machines and Sitcom Equipment
Construction
Equipments
Electrical
Installations
Communication
Equipments
Hospital
Equipments
Laboratory
and Workshop Equipments
Intangible Assets
Software
Right
of Use
CMT REPORT (Corruption, Money Laundering and Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
|
1 |
Rs.102.33 |
|
Euro |
1 |
Rs.82.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
75 |
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 and 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.