MIRA INFORM REPORT
|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
DELHI INTERNATIONAL AIRPORT PRIVATE LIMITED |
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Registered Office : |
New Udaan Bhawan, Opposite Terminal - 3, Indira Gandhi International
Airport, New Delhi - 110037 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
01.03.2006 |
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Com. Reg. No.: |
55-146936 |
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Capital
Investment / Paid-up Capital : |
Rs.24500.000
Millions |
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CIN No.: [Company
Identification No.] |
U63033DL2006PTC146936 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELD08985E |
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PAN No.: [Permanent
Account No.] |
AACCD3570F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing of Airport Maintenance Services and Repairing Services. |
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No. of Employees : |
Not Divulged |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 42770000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture consortium of GMR Group (54%), Airport Authority
of India (26%), Fraport AG and Eraman Malaysia (10% each). It is an
established company having satisfactory track. Management has seen a healthy growth in subject’s operating income in
FY 13, whereas has reported a huge accumulated loss during the year under
review. The ratings also take into consideration the monopoly position of the
Indira Gandhi International Airport in the National Capital Region and
experience of the promoters. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct. In view of established position of the company and strong support
received from its group company, the subject can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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
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 |
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Rating |
Long term rating = A- |
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Rating Explanation |
Adequate degree of safety and carry lowest credit risk. |
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Date |
April, 2014 |
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Rating Agency Name |
ICRA |
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Rating |
Short term rating: “A2+” |
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Rating Explanation |
Strong degree of safety and low credit risk. |
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Date |
April, 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.: 91-11-47197453)
LOCATIONS
|
Registered Office : |
New Udaan Bhawan, Opposite Terminal - 3, Indira Gandhi International
Airport, New Delhi - 110037, India |
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Tel. No.: |
91-11-47197001/ 47197453 |
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Fax No.: |
91-11-47197034/ 47197181 |
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E-Mail : |
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Website : |
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Corporate Office : |
GMR Group, IBC Knowledge Park, Phase 2, "D"
Block, 9th Floor, 4/1, Bannerghatta Road, Bangalore - 560029, Karnataka,
India |
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Tel No.: |
91-80-40432180 |
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Fax No.: |
91-80-40432000 |
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E-Mail : |
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Branch Office : |
Located At: · New Delhi · Himachal Pradesh · Bhubaneswar · Orissa · Uttarakhand · Chandigarh · Maharashtra · Karnataka · Tamil Nadu · Andhra Pradesh |
DIRECTORS
As on 23.08.2013
|
Name : |
Mr. Narayana Rao Kada |
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Designation : |
Director |
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Address : |
104 Durga Vihar, Gunnrock Avenue, Secunderabad – 500015, Andhra Pradesh, India |
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Date of Birth/Age : |
01.04.1955 |
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Date of Appointment : |
17.04.2007 |
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PAN No.: |
AFMPK7052H |
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DIN No.: |
00016262 |
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Name : |
Ravela Sri Satya Lakshami Narasimha Bhaskarudu |
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Designation : |
Director |
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Address : |
RSSLN Bhaskarudu, H. No.2210, Sector D, Pocket – 2, Vasant Kunj, New Delhi - 110070, India |
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Date of Birth/Age : |
01.07.1940 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
00058527 |
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Name : |
Mr. Srinivas Bommidala |
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Designation : |
Director |
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Address : |
No. 309, 3rd Cross, 2nd Block, 2nd Stage, Devasandra, Rajmahal Vilas Extension, Bangalore – 560094, Karnataka, India |
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Date of Birth/Age : |
01.03.1963 |
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Date of Appointment : |
19.04.2006 |
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PAN No.: |
ADAPB2985L |
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DIN No.: |
00061464 |
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Name : |
Mr. Kiran Kumar Grandhi |
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Designation : |
Director |
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Address : |
No.486/76, SHMI Nilayam, 38th Cross, 1st Main, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
13.09.1975 |
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Date of Appointment : |
19.04.2006 |
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PAN No.: |
ADUPG3647G |
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DIN No.: |
00061669 |
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Name : |
Mr. Grandhi Butchi Sanyasi Raju |
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Designation : |
Director |
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Address : |
No.486/76, Varalak SHMI Nilayam, 38th Cross, 1st Main, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
22.06.1974 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00061686 |
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Name : |
Mr. Subba Rao Gunuputi |
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Designation : |
Director |
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Address : |
D-168, 1st Floor, Defence Colony, New Delhi – 110024, Delhi, India |
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Date of Birth/Age : |
15.11.1951 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00064511 |
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Name : |
Mr. Bangaru Raju Obbilisetty |
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Designation : |
Director |
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Address : |
No.249, 4th Cross, 6th Main, 4th Phase, J. P. Nagar Dollars Colony, Bangalore - 560078, Karnataka, India |
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Date of Birth/Age : |
21.12.1956 |
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Date of Appointment : |
16.09.2007 |
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DIN No.: |
00082228 |
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Name : |
Mr. Grandhi Mallikarjuna Rao |
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Designation : |
Chairman |
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Address : |
No.486/76, 38th Cross, 1st Main, 8th Block, Jayanagar, Bangalore – 560082, Karnataka, India |
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Date of Birth/Age : |
01.07.1949 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
00574243 |
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Name : |
Mr. Bashir Ahmed Bin Abdul Majid |
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Designation : |
Director |
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Address : |
No.17, Jalan Pju, 3/416 C, Damansara Indah, Resort Homes, Petaling Jaya, Selangor, Malaysia – 47410 |
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Date of Birth/Age : |
20.06.1946 |
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Date of Appointment : |
19.04.2006 |
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DIN No.: |
01563213 |
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Name : |
Mr. Christoph Hans Nanke |
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Designation : |
Director |
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Address : |
Bebheimer Garden 7, Trebur, Germany-65468 |
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Date of Birth/Age : |
05.08.1966 |
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Date of Appointment : |
18.03.2009 |
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DIN No.: |
01710668 |
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Name : |
Mr. Suresh Krishan Goyal |
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Designation : |
Director |
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Address : |
2901, 29, Aqua Planet Godrej, 030, K Khadye Marg, S G M CHK, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
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Date of Birth/Age : |
05.07.1968 |
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Date of Appointment : |
10.05.2012 |
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DIN No.: |
02721580 |
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Name : |
Mr. Sudhir Raheja |
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Designation : |
Director |
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Address : |
E-8, Bali Nagar, New Delhi - 110015, India |
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Date of Birth/Age : |
16.06.1958 |
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Date of Appointment : |
25.10.2010 |
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DIN No.: |
02745768 |
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Name : |
Mr. Faizah Binti Khairuddin |
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Designation : |
Alternate Director |
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Address : |
No.3, Jalan Bidai U8/13E, Bukit Jelutong, Shah Alam, Selangor - 40150, Malaysia |
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Date of Birth/Age : |
20.09.1967 |
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Date of Appointment : |
15.10.2009 |
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DIN No.: |
02768997 |
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Name : |
Mr. Anil Shrivastava |
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Designation : |
Director |
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Address : |
C-23, Shivaji Nagar, Bhopal – 462001, Madhya Pradesh, India |
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Date of Birth/Age : |
15.03.1959 |
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Date of Appointment : |
16.05.2013 |
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DIN No.: |
02903603 |
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Name : |
Mr. Matthias Engler |
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Designation : |
Alternate Director |
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Address : |
Merianstrabe, 27, Frankfurt Am Main, Germany - 60316 |
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Date of Birth/Age : |
13.08.1970 |
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Date of Appointment : |
16.10.2012 |
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DIN No.: |
06363447 |
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Name : |
Mr. Suresh Seshadri |
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Designation : |
Director |
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Address : |
B-35, Block-B, 2nd Floor, Sarvodaya Enclave, Aurobindo Marg, Delhi – 110017, India |
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Date of Birth/Age : |
22.03.1960 |
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Date of Appointment : |
30.11.2012 |
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DIN No.: |
06386248 |
KEY EXECUTIVES
|
Name : |
Mr. Gadi Radhakrishna Babu |
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Designation : |
Secretary |
|
Address : |
1-4-61/2, Street No.8, Habshiguda, Hyderabad - 500007, Andhra Pradesh,
India |
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Date of Birth/Age : |
13.02.1960 |
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Date of Appointment : |
23.01.2012 |
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PAN No.: |
ACAPG2146H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.08.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
GMR Infrastructure Limited, India |
245000000 |
10.00 |
|
GMR Energy Limited, India |
245000000 |
10.00 |
|
GMR Airports Limited, India |
833000000 |
34.00 |
|
Airports Authority of India, India |
637000000 |
26.00 |
|
Fraport A G Frankfurt Airport Services Worldwide, Germany |
245000000 |
10.00 |
|
Malaysia Airports (Mauritius) Private Limited, Mauritius |
245000000 |
10.00 |
|
Total |
2450000000 |
100.00 |
As on 23.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
20.00 |
|
Bodies corporate |
80.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing of Airport Maintenance Services and Repairing Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Axis Bank Limited, Central Office, Capital Markets Department, 11th Floor, F Wing, Maker Tower, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Canara Bank, Prime Corporate Branch, No.1, DDA Building, 1st Floor, Nehru Place, New Delhi - 110019, India · Central Bank of India, Corporate Finance Branch, 75, 1st Floor, Bridge Road, Bangalore - 560025, Karnataka, India · ICICI Bank Limited, ICICI Bank Towers, Bandra Kurla Complex, Mumbai - 400051, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brahmayya And Company Chartered Accountant |
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Address : |
‘Khivraj Mansion’, 10/2, Kasturba Road, Bangalore - 560001, Karnataka,
India |
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PAN No.: |
AAAFB9147R |
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Name : |
S.R. Batlliboi and Associates Chartered Accountant |
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Address : |
12th Floor, Canberra Block, UB City, Vittal Mallya Road , Banglore - 560001, Karnatka, India |
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Tel. No.: |
91-40-66246600 |
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PAN No.: |
AABFS3421N |
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Holding Company: |
GMR Infrastructure Limited, India L45203KA1996PLC034805 |
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Ultimate Holding
Company: |
GMR Holdings Private Limited, India U67120MH1993PTC207451 |
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Subsidiary company: |
· Delhi Aerotropolis Private Limited CIN No.: U45400DL2007PTC163751 · East Delhi Waste Processing Company Limited CIN No.: U37100DL2005PLC135148 |
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Joint venture: |
· Airports Authority of India · Fraport AG Frankfurt Airport services Worldwide · Malaysia Airports (Mauritius) Private Limited · Delhi Aviation Services Private Limited CIN No.: U24233DL2007PTC165308 · Delhi Aviation Fuel Facility Private Limited CIN No.: U74999DL2009PTC193079 · Wipro Airport IT Services Limited CIN No.: U72200KA2009PLC051272 · Delhi Airport Parking Services Private Limited CIN No.: U63030DL2010PTC198985 · Travel Food Services (Delhi Terminal 3) Private Limited CIN No.: U55101DL2009PTC196639 · Delhi Duty Free Services Private Limited CIN No.: U52599DL2009PTC191963 · Delhi Select Service Hospitality Private Limited CIN No.: U55101DL2009PTC192897 · Devyani Food Street Private Limited CIN No.: U55101DL2009PTC193995 · Celebi Delhi Cargo Terminal Management India Private Limited CIN No.: U74900DL2009FTC191359 · Delhi Cargo Service Center Private Limited CIN No.: U74900DL2009PTC196125 · TIM Delhi Airport Advertising Private Limited CIN No.: U74999DL2010PTC203419 |
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Fellow Subsidiary
company: |
· GMR Energy Limited CIN No.: U85110KA1996PLC021262 · GMR Consulting Services Private Limited CIN No.: U74200KA2008PTC045448 · SJK Powergen Limited CIN No.: U40109KA1998PLC052000 · GMR Hyderabad International Airport Limited CIN No.: U62100AP2002PLC040118 · Gateways for India Airports Private Limited CIN No.: U62100AP2005PTC045123 · GMR Male International Airport Private Limited · GMR Airport Developers Limited CIN No.: U62200AP2008PLC059646 · GADL International Limited · GMR Krishnagiri SEZ Limited CIN No.: U45209TN2007PLC064863 · Raxa Security Services Limited CIN No.: U74920KA2005PLC036865 · Delhi Golf Link Properties Private Limited CIN No.: U70102GJ2008PTC071327 · GMR Airports Limited CIN No.: U65999KA1992PLC037455 · GMR Corporate Affairs Private Limited CIN No.: U74999KA2006PTC041279 · GMR Aviation Private Limited CIN No.: U62200KA2006PTC041278 |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· GMR Varalakshmi Foundation CIN No.: U80301AP2003NPL042195 · Istanbu Sabiha Gokcen Uluslararasi Havalimani Yaturum · Yapimvelsletme A.S. (SabihaGokcen International Airport) · MAS GMR Aerospace Engineering Company Limited CIN No.: U45201AP2008PLC067141 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs.30000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2450000000 |
Equity Shares |
Rs.10/- each
|
Rs.24500.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
24500.000 |
24500.000 |
24500.000 |
|
(b) Reserves & Surplus |
(13806.900) |
(14532.100) |
(3678.100) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
10693.100 |
9967.900 |
20821.900 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
60479.200 |
57409.400 |
52299.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
21493.000 |
21832.100 |
24094.300 |
|
(d) long-term
provisions |
895.500 |
1085.700 |
1184.800 |
|
Total Non-current
Liabilities (3) |
82867.700 |
80327.200 |
77578.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
8565.000 |
6000.000 |
|
(b) Trade
payables |
4723.300 |
2333.500 |
1825.300 |
|
(c) Other
current liabilities |
20877.500 |
21344.300 |
18969.500 |
|
(d) Short-term
provisions |
392.200 |
357.900 |
232.900 |
|
Total Current
Liabilities (4) |
25993.000 |
32600.700 |
27027.700 |
|
|
|
|
|
|
TOTAL |
119553.800 |
122895.800 |
125427.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
89136.000 |
90789.300 |
98368.000 |
|
(ii)
Intangible Assets |
4619.000 |
4730.700 |
4484.800 |
|
(iii)
Capital work-in-progress |
477.400 |
1243.300 |
867.900 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1825.900 |
1778.600 |
1554.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
975.900 |
1289.900 |
1976.200 |
|
(e) Other
Non-current assets |
8922.900 |
7176.700 |
168.300 |
|
Total Non-Current
Assets |
105957.100 |
107008.500 |
107419.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1090.000 |
526.100 |
1456.500 |
|
(b)
Inventories |
95.900 |
94.700 |
27.200 |
|
(c) Trade
receivables |
5248.000 |
2454.300 |
1252.100 |
|
(d) Cash
and cash equivalents |
2412.800 |
3094.400 |
2901.000 |
|
(e)
Short-term loans and advances |
718.800 |
896.200 |
3163.700 |
|
(f) Other
current assets |
4031.200 |
8821.600 |
9207.500 |
|
Total
Current Assets |
13596.700 |
15887.300 |
18008.000 |
|
|
|
|
|
|
TOTAL |
119553.800 |
122895.800 |
125427.700 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
32440.300 |
14945.500 |
12431.500 |
|
|
|
Other Income |
808.500 |
383.200 |
185.200 |
|
|
|
TOTAL (A) |
33248.800 |
15328.700 |
12616.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Annual Fee |
15331.600 |
7049.600 |
5772.700 |
|
|
|
Power and Fuel |
981.200 |
857.300 |
608.200 |
|
|
|
Employee Benefits Expenses |
1237.200 |
1426.100 |
1393.400 |
|
|
|
Other Expenses |
4387.100 |
4015.300 |
3619.100 |
|
|
|
Exceptional Items |
0.000 |
1621.200 |
0.000 |
|
|
|
Prior Period Items (net) |
(130.000) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
21807.100 |
14969.500 |
11393.400 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
11441.700 |
359.200 |
1223.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6574.600 |
6810.200 |
3317.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4867.100 |
(6451.000) |
(2094.000) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4141.900 |
4264.500 |
2683.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
725.200 |
(10715.500) |
(4777.600) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
138.500 |
(275.600) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
725.200 |
(10854.000) |
(4502.000) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(14532.100) |
(3678.100) |
824.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(13806.900) |
(14532.100) |
(3678.100) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Aeronautical Income |
0.000 |
0.000 |
20.200 |
|
|
|
Revenue from Concessionaires |
1919.500 |
1515.300 |
773.200 |
|
|
TOTAL EARNINGS |
1919.500 |
1515.300 |
793.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import of capital goods and other materials |
148.700 |
388.600 |
918.000 |
|
|
TOTAL IMPORTS |
148.700 |
388.600 |
918.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.30 |
(4.43) |
(3.57) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.18 |
(70.81) |
(35.68) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.24 |
(71.70) |
(38.43) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.62 |
(8.94) |
(3.88) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
(1.08) |
(0.23) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.66 |
6.62 |
2.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.52 |
0.49 |
0.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
24500.000 |
24500.000 |
24500.000 |
|
Reserves & Surplus |
(3678.100) |
(14532.100) |
(13806.900) |
|
Net
worth |
20821.900 |
9967.900 |
10693.100 |
|
|
|
|
|
|
long-term borrowings |
52299.000 |
57409.400 |
60479.200 |
|
Short term borrowings |
6000.000 |
8565.000 |
0.000 |
|
Total
borrowings |
58299.000 |
65974.400 |
60479.200 |
|
Debt/Equity
ratio |
2.800 |
6.619 |
5.656 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
12431.500 |
14945.500 |
32440.300 |
|
|
|
20.223 |
117.057 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
12431.500 |
14945.500 |
32440.300 |
|
Profit |
(4502.000) |
(10854.000) |
725.200 |
|
|
(36.21%) |
(72.62%) |
2.24% |
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10468344 |
24/01/2014 * |
38,362,500,000.00 |
AXIS BANK LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025,MAHARASHTRA, INDIA |
B95978284 |
|
2 |
10416021 |
11/03/2013 |
2,500,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, 10TH FLOOR, HINDUSTAN TIMES HOUSE, K.G. MARG, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA |
B71894513 |
|
3 |
10416449 |
11/03/2013 |
3,000,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, 75, 1ST FLOOR, BRIGADE |
B72209786 |
|
4 |
10416023 |
11/03/2013 |
3,090,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH 1, NO.1, DDA BUILDING, 1ST |
B71895692 |
|
5 |
10415558 |
11/03/2013 |
3,500,000,000.00 |
IDFC LIMITED |
NAMAN CHAMBERS, C-32 G- BLOCK, BANDRAKURLA COMPL |
B71957773 |
|
6 |
10230210 |
29/06/2010 |
2,500,000,000.00 |
CORPORATION BANK |
16/10, 1ST FLOOR, MAIN ARYA SAMAJ ROAD, KAROL BAGH, NEW DELHI - 110005, INDIA |
A89994347 |
|
7 |
10112534 |
30/12/2013 * |
32,443,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B92857531 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
7315.000 |
|
Term loans from others |
0.000 |
1250.000 |
|
Total |
0.000 |
8565.000 |
CORPORATE INFORMATION
The Company is a private limited Company domiciled in India and was incorporated on March 1, 2006 under the provisions of the Companies Act, 1956, for managing the operations and modernization of the Indira Gandhi International Airport (Delhi Airport). GMR Infrastructure Limited, along with its subsidiaries, holds majority shareholding in the Company. DIAL had entered into Operation, Management and Development Agreement (OMDA) with Airports Authority of India (AAI), which gives DIAL an exclusive right to operate, maintain, develop, modernize and manage the Delhi Airport on a revenue sharing model for an initial term of 30 years, which can be extended by another 30 years on satisfaction of certain terms and conditions pursuant to the provisions of the OMDA.
BUSINESS PERFORMANCE
During the financial year ended March 31, 2013, the company has recorded a Gross Revenue of Rs. 33248.800 Millions as against Rs.15328.700 Millions, in the corresponding previous year, being an increase of 117%. Further, the company has also recorded the Profit After Tax of Rs. 725.200 Millions for the year ended March 31, 2013 against Loss of Rs. 10853.900 Millions, in the corresponding previous year.
The above said increase in Revenue and achieved profits are mainly due to the following reasons:
Ø Significant increase in Aero Revenue due to increase in Tariff by Airport Economic Regulatory Authority, effective from May 15, 2012;
Ø Recognition of revenue of Rs. 2940.000 Millions, on Cash Basis received from Air India Limited (AIL);
Ø Recognition of revenue of Rs. 1800.000 Millions on accrual basis from Air India Limited, due to improved outstanding position as well as visible reasonable certainty of realization in the last quarter of financial year 2012-13.
FINANCE
During the year, the Airport Economic Regulatory Authority (AERA) has issued the revised Additional Development Fees (DF) order no. 30 / 2012-13 dated Dec. 28, 2012 whereby AERA has determined the rate of DF as Rs.100 per embarking domestic passenger andRs.600 per embarking international passenger w.e.f. 1 st Jan 2013, as against the earlier rate of DF of Rs.200 per embarking domestic passenger and Rs.1300 per embarking international passenger. AERA has also proposed to permit collection of total remaining amount of DF entitlement of Rs.14130.200 Millions (on NPV basis as on 1 st Jan 2013). Further based on the traffic forecast considered at the time of DF order no. 28/2011-12 dated 8 th Nov 2011, AERA has estimated ADF to continue for a period of 40 months up to April 2016. Increase in DF collection period necessitated the refinancing of DF loan for longer tenor envisaged in revised DF order.
As considerable amount was collected between the date of revised DF order i.e. Dec. 28, 2012 for Rs.14130.200 Millions and date of fresh DF loan availment i.e. 15 Mar 2013, the remaining DF entitlement amount of Rs.12008.500 Millions was financed with new set of DF Lenders namely IDFC Limited, Central Bank of India, Canara Bank and Corporation Bank in March, 2013 at Rate of Interest of 11.50% p.a fixed for the entire period.
The company had availed disbursement of Rs.12008.500 Millions in March, 2013 which was utilized for repayment of outstanding DF loans and existing Short Term loan.
During the year, the Company has also executed documents for refinancing of existing Rupee Term Loan to the tune of Rs.25500.000 Millions with IDFC Limited, to increase the remaining loan repayment period from 12 years to 15 years. The company has availed disbursement of Rs.12500.000 Millions till March, 2013 and Rs. 10500.000 Millions till April, 2013.
AIRPORT OPERATIONS
The major highlights of key activities / initiatives of the airport operations during the year were as under:
Ø Ranked 4th best airport globally and 2nd best in the category of 25-40 mppa in the ASQ survey by ACI
Ø DIAL implemented Business Continuity Management System to avoid any operational disruptions due to unforeseen circumstances and became the world’s first airport to achieve the ISO 22301:2012 Certification for Business Continuity Management system;
Ø DIAL achieved a Business Excellence score of 479 in 1st cycle of assessment;
Ø Due to implementation of NATS recommendations to maximize Runway/Apron Utilization, DIAL has achieved movement of 73 per hour during peak hour operations, up from 65 movements per hour.
Ø Collaborative Decision Making (CDM) implementation to improve operational efficiency; significant improvement in IGIA OTP (On Time Performance).
Ø Improved Employee Engagement score from 3.60 to 4.03;
Ø DIAL’s Carbon Emissions inventory has been verified as per ISO 14064 by DNV and accredited by ACI for Level 2 (Reduction)
Ø DIAL has started looking into Solar Power generation and is in advance stage of finalizing of Contract;
Ø Open Access power purchase agreement signed with Global Energy for supply of 20MW.
AWARDS AND
RECOGNITIONS TO THE COMPANY
The awards and recognitions received by the Company during the year are as under:
Ø World’s Most Improved Airport 2012 by Sky Trax
Ø Best Airport India in Infrastructure and Service Quality by Sky Trax
Ø International Safety Award from British Safety Council
Ø Highly Commendable Airport at Annual Routes Asia 2012 organized by ACI
Ø International Cargo Airport of the Year (Region India) by Stat Trade Times
Ø Best Managed Airport by CNBC Awaaz Travel Awards
Ø Excellent Energy Efficient Unit by the Confederation of Indian Industries.
INITIATIVES FOR
2013-14
Ø Maximize value from existing assets by improving utilization of operational runway/taxiway, apron and terminal, energy saving initiatives on airside and terminal and commercial utilization of T2/T1A ;
Ø Innovation to maximize non-regulated revenue, including non-pax revenue by creation of unique concept for city audience, extension of travel retail beyond the airport etc
Ø Initiatives to reduce interest cost by refinancing of rupee term loan and ECB Loan
Ø Develop DIAL an international air traffic Hub for Pax through operational excellence, retail management, route development etc
Ø Make DIAL a great place to work;
Ø To Become a Customer focused organization
Ø Cost containment measures by minimizing electricity and water consumption, repair and maintenance charges etc
Ø Improve connectivity to the airport
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible Assets
· Computer Software
WEBSITE DETAILS
Delhi's Indira Gandhi International Airport bags world's second best
airport award
Updated: Jun 14 2013
Indira
Gandhi International Airport has been named the world's second best airport in
the 25-40 million passengers category by the Airport Council International.
The airport
also has been adjudged as the fourth best in the world among 199 airports
across all categories.
A
nine-member team, comprising representatives from airport operator Delhi
International Airport Limited (DIAL), Central Industrial Security Force,
Airport Operations Control and Air India received the 'ACI ASQ Award' at an
award ceremony organised by the Airport Council International (ACI) in
Istanbul, Turkey yesterday.
"This
recognition is testimony to the efforts of all our employees and partners who
have consistently met the expectations of the industry," DIAL CEO I
Prabhakar Rao said.
IGI
airport scored 4.83 out of 5 on the Airport Service Quality (ASQ) scale.
IGI has
managed to retain its position of second best airport in the 25-40 million
passengers per annum category for 2012 year.
The
airport had an ASQ score of 3.02 in 2007 and ranked last among the 101
participating airports of the world.
The
airport has an annual capacity of over 60 million passengers, but in 2012,
around 34.2 million passengers passed through it.
IGI
handled around 550,000 tonnes of cargo and over 300,000 aircraft movements
during the same period.
Since its
inception in 2006, the ASQ Awards have become the world's leading airport
passenger satisfaction benchmark with over 275 airports participating in it.
The ASQ
Awards recognise and reward the best airports in the world based on ACI's ASQ
passenger satisfaction survey done on uniform format worldwide and represent an
opportunity to celebrate the commitment of airports worldwide to continually
improve passenger experience.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
----- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.