MIRA INFORM REPORT
|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAIPRAKASH ASSOCIATES LIMITED (w.e.f. 11.03.2004) |
|
|
|
|
Formerly Known
As : |
JAYPEE CEMENT
LIMITED |
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|
Registered
Office : |
Sector – 128,
Noida – 201304, Uttar Pradesh |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.11.1995 |
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Com. Reg. No.: |
20-019017 |
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Capital
Investment / Paid-up Capital : |
Rs.4438.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L14106UP1995PLC019017 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
LKNJ05124A |
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PAN No.: [Permanent Account No.] |
APPLIEDFOR |
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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
: |
Manufacturing,
Importing and Exporting of Portland Cement and Clinker Cement. |
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|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 550000000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a one of the leading cement manufacturers in India. It is a
well-established and reputed company having fine track record. The rating reflects company’s position as one of the leading cement manufacturers
in India supported by its expertise as well as long track record in the
hydro-power project and infrastructure construction business, its healthy
financial risk profile and decent liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go slowly on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Limted grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
08.08.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
08.08.2014 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Oden Sharma |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-120-4963100 |
|
Date : |
10.10.2014 |
LOCATIONS
|
Registered Office / Corporate Office : |
Sector – 128, Noida
– 201304, Uttar Pradesh, India |
|
Tel No.: |
91-120-4609000/
2470800 / 4609800 / 4516000 / 2417176 |
|
Fax No.: |
91-120-4609464/
4609496 |
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E-Mail : |
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|
Website : |
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|
|
Delhi Office : |
Jai Annexe House, 63, Basant
Lok, Vasant Vihar, New Delhi – 110057, India |
|
Tel. No.: |
91-11-26411540/
26147411/ 26149444/ 26141540 |
|
Fax No.: |
91-11-26145389/
26148890/ 26143591 |
|
E-Mail : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Manoj Gaur |
|
Designation : |
Executive Chairman and Chief Executive Officer |
|
Address : |
A9/27, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth : |
16.06.1964 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
00008480 |
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|
|
|
Name : |
Mr. Sunil Kumar Sharma |
|
Designation : |
Executive Vice Chairman |
|
Address : |
E9/14, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth : |
01.07.1959 |
|
Date of Appointment : |
18.03.2009 |
|
Voter ID : |
DL02010249931 |
|
DIN No.: |
0008125 |
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|
|
|
Name : |
Mr. Sarat Kumar Jain |
|
Designation : |
Vice Chairman |
|
Address : |
B1/12, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth : |
19.05.1938 |
|
Date of Appointment : |
18.03.2004 |
|
Voter ID : |
DL02010243649 |
|
DIN No.: |
00010073 |
|
|
|
|
Name : |
Mr. Sunny Gaur |
|
Designation : |
Managing Director (Cement) |
|
Address : |
A9/27, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth : |
30.05.1969 |
|
Date of Appointment : |
31.12.2009 |
|
DIN No.: |
00008293 |
|
|
|
|
Name : |
Mr. Pankaj Gaur |
|
Designation : |
Joint Managing Director (Construction) |
|
Address : |
A1/7, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth : |
18.01.1971 |
|
Date of Appointment : |
01.07.2009 |
|
DIN No.: |
00008419 |
|
|
|
|
Name : |
Mr. S.C. Rathi |
|
Designation : |
Director (LIC Nominee) |
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|
|
|
Name : |
Mr. Raj Narain Bhardwaj |
|
Designation : |
Director |
|
Address : |
402, Moksh Apartments, Upper Govind Nagar, Malad (East), Mumbai –
400097, Maharashtra, India |
|
Date of Birth : |
08.05.1945 |
|
Date of Appointment : |
30.08.2007 |
|
DIN No.: |
01571764 |
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|
|
|
.Name : |
Mr. Subhash Chandra Bhargava |
|
Designation : |
Director |
|
Address : |
1305-B Wing, Dosti Aster (Dosti Acres), New Uphill Link Road, Off S.
M. Road, Antop Hill, Wadala (East), Mumbai – 400037, Maharashtra, India |
|
Date of Birth : |
20.07.1945 |
|
Date of Appointment : |
27.12.2005 |
|
DIN No.: |
00020021 |
|
|
|
|
Name : |
Mr. Vijay Kumar Chopra |
|
Designation : |
Director |
|
Address : |
4-A, 4th Floor, Harmony Tower, Dr. E Moses Road, Worli, Mumbai –
400018, Maharashtra, India |
|
Date of Birth : |
06.03.1946 |
|
Date of Appointment : |
21.09.2010 |
|
Voter ID : |
DL02009192293 |
|
DIN No.: |
02103940 |
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|
|
|
Name : |
Mr. Homai A. Darewalla |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Basant Kumar Goswami |
|
Designation : |
Director |
|
Address : |
F-4, Kailash Colony, New Delhi – 110048, India |
|
Date of Birth : |
29.01.1935 |
|
Date of Appointment : |
01.03.2007 |
|
DIN No.: |
00003782 |
|
|
|
|
Name : |
Dr. Bidhubhusan. Samal |
|
Designation : |
Director |
|
Address : |
Flat No.1101, Lokhandwala Galaxy Junction of NM Joshi and KK Marg,
Near S. Bridge Byculla (West), Mumbai – 400011, Maharashtra, India |
|
Date of Birth : |
02.03.1943 |
|
Date of Appointment : |
21.09.2010 |
|
DIN No.: |
00007256 |
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|
|
|
Name : |
Mr. K.N. Bhandari |
|
Designation : |
Independent Director |
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|
|
|
Name : |
Mr. Ranvijay Singh |
|
Designation : |
Whole-time Director |
|
Address : |
E2/11, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth : |
19.10.1966 |
|
Date of Appointment : |
14.12.2007 |
|
DIN No.: |
00020876 |
|
|
|
|
Name : |
Mr. Rahul Kumar |
|
Designation : |
Whole-time Director and CFO |
|
Address : |
B-67. Sarvodaya Enclave, New Delhi – 110017, India |
|
Date of Birth : |
23.02.1968 |
|
Date of Appointment : |
31.10.2010 |
|
DIN No.: |
00020779 |
|
|
|
|
Name : |
Mr. Shyam Dutt Nailwal |
|
Designation : |
Whole-time Director |
|
Address : |
75, Shreshta Vihar, Delhi – 110092, India |
|
Date of Birth/ Age : |
03.08.1947 |
|
Date of Appointment : |
01.07.2009 |
|
Voter ID : |
DL04043234072 |
|
DIN No.: |
00008529 |
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|
|
|
Name : |
Mr. S.D. Nailwal |
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Designation : |
Whole-time Director (Upto 30-06-2014) |
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
69653292 |
3.14 |
|
|
741156270 |
33.40 |
|
|
189316882 |
8.53 |
|
|
189316882 |
8.53 |
|
|
1000126444 |
45.07 |
|
|
|
|
|
|
31760 |
0.00 |
|
|
31760 |
0.00 |
|
Total
shareholding of Promoter and Promoter Group (A) |
1000158204 |
45.07 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
54032846 |
2.44 |
|
|
9324606 |
0.43 |
|
|
112258985 |
5.06 |
|
|
686132694 |
30.94 |
|
|
861749131 |
38.87 |
|
|
|
|
|
|
70192107 |
3.23 |
|
|
|
|
|
|
207065000 |
10.48 |
|
|
20134530 |
0.93 |
|
|
29650624 |
1.43 |
|
|
7852447 |
0.43 |
|
|
9292371 |
0.42 |
|
|
2000 |
0.01 |
|
|
3432447 |
0.15 |
|
|
9071359 |
0.41 |
|
|
327042261 |
16.06 |
|
Total
Public shareholding (B) |
1188791392 |
54.93 |
|
Total
(A)+(B) |
2188949596 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
2188949596 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Importing and Exporting of Portland Cement and Clinker Cement. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. P. Singh and
Associates Chartered
Accountants |
|
Address : |
B-8/14, Vasant
Vihar, New Delhi-110057, |
|
Tel. No.: |
91-11-26141979 |
|
Fax No.: |
91-11-26148150 |
|
E-Mail : |
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Subsidiary Companies [including
their subsidiaries]: |
|
|
|
|
|
Joint Venture Subsidiaries : |
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|
|
|
|
Associate Companies : |
|
CAPITAL STRUCTURE
After 31.03.2014
Authorised Capital : Rs.25600.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.4864.914
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12344000000 |
Equity Shares |
Rs.2/- each |
Rs.24688.000 Millions |
|
3120000 |
Preference Shares |
Rs.100/- each |
Rs.312.000 Millions |
|
|
Total |
|
Rs.25000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2219083559 |
Equity Shares |
Rs.2/- each |
Rs.4438.200 Millions |
a)
Issued, Subscribed and Paid-up Share Capital in
number comprises of
Shares for consideration in cash
20,219,850 Equity Shares allotted under "Jaypee Employees Stock
Purchase Scheme 2002"
12,500,000 Equity Shares allotted under "Jaypee Employees Stock
Purchase Scheme 2009"
201,623,717 Equity Shares allotted for cash on conversion of Foreign
Currency Convertible Bonds;
10,000,000 Equity Shares allotted for cash to Promoters on Preferential
Basis and
64,204,810 Equity Shares allotted through Qualified Institutional
Placement as on 06.02.2013.
Shares for consideration other than cash
860,865,055 Equity
Shares allotted in terms of the Scheme of Amalgamation effective from
11.03.2004;
124,378,825 Equity
Shares allotted in terms of Scheme of Amalgamation effective from 22.08.2006;
218,010,985 Equity
Shares allotted pursuant to Scheme of Amalgamation effective from 27.05.2009
and
707,280,317 Equity
Shares allotted as Bonus Shares
b) Reconciliation of the Number of Shares
Outstanding at the beginning and at the end of the reporting period:
|
Equity Shares |
Number
of Shares |
Rs. In Millions |
|
Equity
Shares at the beginning of the year |
2,219,083,559 |
4438.200 |
|
Add:
Equity Shares allotted on conversion foreign Currency Convertible Bonds |
--- |
--- |
|
Add:
Equity Shares allotted on Qualified
Institutional Placement |
--- |
--- |
|
Equity Shares at the end
of the year |
2,219,083,559 |
4438.200 |
c)
Terms / Rights
The Company has
issued only one class of equity shares having a par value of Rs.2/- per share.
Each holder of equity share is entitled to one vote per share. Each share is
entitled to equal dividend declared by the Company and approved by the
Shareholders of the Company.
In the event of
liquidation, each share carries equal rights and will be entitled to receive
equal amount per share out of the remaining amount available with the Company
after making preferential payments.
d)
Details of equity shares held by shareholders
holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
|
|
|
|
Jaypee
Infra Ventures [a Private Company with unlimited liability] |
726,150,727 |
32.72 |
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 |
4438.200 |
4438.200 |
4252.900 |
|
(b) Reserves & Surplus |
132528.900 |
128885.100 |
118790.100 |
|
(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) |
136967.100 |
133323.300 |
123043.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
196224.000 |
185909.100 |
150370.000 |
|
(b) Deferred tax liabilities (Net) |
12542.200 |
13726.800 |
12437.200 |
|
(c) Other long term
liabilities |
10333.100 |
17043.900 |
16087.800 |
|
(d) long-term
provisions |
1571.900 |
1802.900 |
1326.300 |
|
Total Non-current
Liabilities (3) |
220671.200 |
218482.700 |
180221.300 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
35491.500 |
16258.000 |
10792.900 |
|
(b) Trade
payables |
21162.500 |
24030.200 |
22255.000 |
|
(c) Other
current liabilities |
73177.200 |
66115.900 |
69837.300 |
|
(d) Short-term
provisions |
1046.100 |
1723.300 |
1293.700 |
|
Total Current
Liabilities (4) |
130877.300 |
108127.400 |
104178.900 |
|
|
|
|
|
|
TOTAL |
488515.600 |
459933.400 |
407443.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
148502.500 |
131164.000 |
119800.700 |
|
(ii)
Intangible Assets |
116.700 |
412.200 |
494.100 |
|
(iii)
Capital work-in-progress |
49809.900 |
58008.200 |
47023.700 |
|
(iv)
Intangible assets under development |
1.300 |
0.900 |
0.000 |
|
(b) Non-current Investments |
103401.000 |
85970.500 |
63560.300 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23525.400 |
18091.000 |
13523.000 |
|
(e) Other
Non-current assets |
25878.400 |
18502.600 |
15689.000 |
|
Total Non-Current
Assets |
351235.200 |
312149.400 |
260090.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
288.500 |
2932.100 |
3369.700 |
|
(b) Inventories |
18687.800 |
19694.800 |
16914.900 |
|
(c) Projects
Under Development |
9353.300 |
10082.400 |
12201.100 |
|
(d)Trade
receivables |
29307.500 |
25262.400 |
24541.700 |
|
(e) Cash and
cash equivalents |
8798.100 |
12858.800 |
10222.300 |
|
(f)
Short-term loans and advances |
36442.900 |
33969.800 |
29568.900 |
|
(g) Other
current assets |
34402.300 |
42983.700 |
50533.800 |
|
Total Current Assets |
137280.400 |
147784.000 |
147352.400 |
|
|
|
|
|
|
TOTAL |
488515.600 |
459933.400 |
407443.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
131,161.100 |
133,354.700 |
128,531.200 |
|
|
|
Other Income |
2,109.100 |
1,789.400 |
2,644.900 |
|
|
|
TOTAL (A) |
133,270.200 |
135,144.100 |
131,176.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
34,938.400 |
32,786.000 |
28,644.700 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and Stock-in-Trade |
(1,626.300) |
(2,157.300) |
(536.200) |
|
|
|
Employees
benefits expense |
7,892.800 |
8,079.500 |
6,613.200 |
|
|
|
Other
expenses |
18,717.500 |
19,642.400 |
17,088.000 |
|
|
|
Manufacturing,
Construction, Real Estate, Hotel/Hospitality and Power Expenses |
38,729.200 |
42,004.200 |
42,325.000 |
|
|
|
Prior Period
Adjustment |
(86.300) |
(93.000) |
(60.900) |
|
|
|
Profit on
sale of shares - Exceptional items |
(3,952.800) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
94,612.500 |
100,261.800 |
94,073.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
38,657.700 |
34,882.300 |
37,102.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27,520.700 |
20,113.500 |
17,817.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11,137.000 |
14,768.800 |
19,284.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7,735.500 |
7,261.300 |
6,141.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3,401.500 |
7,507.500 |
13,143.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(737.400) |
2,494.700 |
2,879.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4,138.900 |
5,012.800 |
10,263.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42,604.600 |
31,484.800 |
28,689.200 |
|
|
|
|
|
|
|
|
|
Add |
Provision For Dividend
Distribution Tax Written-Back |
180.000 |
93.700 |
93.700 |
|
|
|
|
|
|
|
|
|
Add |
Final Dividend Transferred
From Trusts |
94.700 |
94.700 |
75.700 |
|
|
|
|
|
|
|
|
|
Add |
Transfer From Reserve For Premium On Foreign Currency
Convertible Bonds |
0.000 |
7,794.600 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Transfer From Debenture
Redemption Reserve |
2,593.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer from Reserve for
Premium on FCCBs |
0.000 |
0.000 |
2,682.500 |
|
|
|
Transferred to Debenture
Redemption Reserve |
0.000 |
76.500 |
2,693.000 |
|
|
|
Transferred to General Reserve |
0.000 |
510.000 |
1,026.400 |
|
|
|
Proposed Final Dividend |
0.000 |
1,109.500 |
1,063.200 |
|
|
|
Tax on Proposed Final
Dividend |
0.000 |
180.000 |
172.500 |
|
|
BALANCE CARRIED
TO THE B/S |
49,611.200 |
42,604.600 |
31,484.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Cement Export (FOB Value) |
92.700 |
116.700 |
75.200 |
|
|
|
Contract Receipts |
8521.000 |
3878.500 |
397.900 |
|
|
|
Hospitality |
228.500 |
253.200 |
258.000 |
|
|
|
Interest |
0.000 |
0.200 |
1.900 |
|
|
|
Others |
14.300 |
94.400 |
0.000 |
|
|
|
Advance received from
Real Estate Customers |
33.800 |
48.500 |
46.400 |
|
|
TOTAL EARNINGS |
8890.300 |
4391.500 |
779.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Equipment (including
Capital Work in Progress) |
575.800 |
546.000 |
1227.900 |
|
|
|
Raw Materials / Construction
Materials and other |
5795.900 |
4538.400 |
3081.800 |
|
|
|
Stores and Spares |
1008.000 |
900.900 |
683.900 |
|
|
|
Hydro Mechanical and Electromechanical Equipment |
0.000 |
2.900 |
482.100 |
|
|
|
Others |
0.000 |
0.000 |
8.800 |
|
|
TOTAL IMPORTS |
7379.700 |
5988.200 |
5484.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
1.87 |
2.34 |
4.83 |
|
|
|
Diluted |
1.94 |
2.29 |
4.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.11 |
3.71 |
7.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.59 |
5.63 |
10.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01 |
2.38 |
4.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.06 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.69 |
1.52 |
1.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.37 |
1.41 |
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 |
4252.900 |
4438.200 |
4438.200 |
|
Reserves & Surplus |
118790.100 |
128885.100 |
132528.900 |
|
Net
worth |
123043.000 |
133323.300 |
136967.100 |
|
|
|
|
|
|
long-term borrowings |
150370.000 |
185909.100 |
196224.000 |
|
Short term borrowings |
10792.900 |
16258.000 |
35491.500 |
|
Total
borrowings |
161162.900 |
202167.100 |
231715.500 |
|
Debt/Equity
ratio |
1.310 |
1.516 |
1.692 |
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 |
128,531.200 |
133,354.700 |
131,161.100 |
|
|
|
3.753 |
(1.645) |
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
|
128,531.200 |
133,354.700 |
131,161.100 |
|
Profit |
10,263.800 |
5,012.800 |
4,138.900 |
|
|
7.99% |
3.76% |
3.16% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2014 Rs.
In Millions |
|
LONG TERM
BORROWINGS |
|
|
|
Foreign Currency
Convertible Bonds |
|
|
|
FCCB [USD]-2012 |
6678.100 |
6049.900 |
|
Foreign Currency
Loans from Banks [ECB] |
|
|
|
ECB [USD / JPY] |
1965.900 |
1752.100 |
|
ECB [GBP] |
514.800 |
1531.800 |
|
ECB [CAD] |
575.500 |
1713.900 |
|
ECB [USD]-2012 |
7770.000 |
8220.000 |
|
Loans From Banks In Foreign Currency |
1594.600 |
1774.600 |
|
Fixed Deposits Scheme |
12636.900 |
14190.600 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans from Banks |
3431.900 |
3888.000 |
|
Bills Discounting |
8526.800 |
7912.300 |
|
Fixed Deposit Scheme |
55.900 |
131.400 |
|
Total |
43750.400 |
47164.600 |
OPERATIONS
ENGINEERING DIVISION
PREQUALIFICATIONS /
BIDS UNDER SUBMISSION
During the year, Company submitted prequalification applications for the following Works:
- Execution of Civil, Hydro-Mechanical and Electro-Mechanical Works of 390MW Kirthai-I Hydroelectric Project in Jammu and Kashmir. The application has been submitted by the Consortium with JAL as lead member.
- Diversion Tunnel, Concrete Gravity Dam, Intake, Silt Excluder Arrangement, Pressure Shafts, Underground Power House and Tail Race Tunnels (Kiru Civil: Lot-1) for 660MW Kiru Hydroelectric Project in Jammu and Kashmir.
- Construction of Head Race Tunnels (from RD 1780 onwards), Adit 2, Surge Shafts, Pressure Shafts, Underground Power House, Transformers Hall, Tail Race Tunnels and Pothead Yard etc.
- Execution of Agra to Lucknow Expressway (in 5 Packages) in Uttar Pradesh
· Agra to Firozabad (village Gurha) (km -1.8 to 0.0 to 53.5) Access Controlled Expressway
· Firozabad (village Gurha) to Etawah (village Moonj) (km 53.5 to km 115.5) Access Controlled Expressway
· Etawah (village Moonj) to Kannauj (village Narmau) (km 115.5 to km 172.5) Access Controlled Expressway
· Kannauj (village Narmau) to Unnao (village Neval) (km 172.5 to km 236.5) Access Controlled Expressway
· Unnao (village Neval) to Lucknow (km 236.5 to km 299.5) Access Controlled Expressway
- Design, Execution and Completion of the Contract Package CP1 Works: Expansion of Karkh Sewage Treatment Plant including Operation and Maintenance Services during the Defects Notification Period for Baghdad Sewerage Facilities Improvement Project in Iraq.
- Design, Execution and Completion of the Contract Package CP2 Works: Rehabilitation of Pumping Stations (RQ, Kadissiya and PN) including Operation and Maintenance Services during the Defects Notification Period for Baghdad Sewerage Facilities Improvement Project, in Iraq. and
- Design, Execution and Completion of the Contract Package CP3 Works: Rehabilitation of Pumping Stations (P5,P2, N3, N2 and TC1) including Operation and Maintenance Services during the Defects Notification Period Baghdad for Sewerage Facilities Improvement Project in Iraq
Company has been
prequalified to participate in the tenders/ bids for the following works:
- Construction of Diversion Tunnel, Coffer Dam, Concrete Gravity Dam, Intake Structure and Diversion Tunnel Gates and Hoist, Desilting Chambers, Head Race Tunnels up to RD 1780m etc. [Teesta-IV : LOT-1] of 520 MW Teesta Hydroelectric Project (Stage-IV) in the District North Sikkim in the State of Sikkim.
- Construction of Civil Works for Dam, River Diversion, Intake, Adit-1, HRT upto RD 9500m including Pranmati Nallah Crossing and Diversion Tunnel Gates (PACKAGE-I) of 252 MW Devasari Hydroelectric Project, District Chamoli, Uttarakhand; and
- Construction of Civil Works of Adits-2, 3 and 4, HRT from RD 9500m to RD 17906m, Pressure Shaft, Penstocks, Surge Shaft, Valve House, Power House Complex and Tail Race Tunnel of 252 MW Devasari Hydroelectric Project, District Chamoli, Uttarakhand.
AWARDS
JPVL was conferred with the undermentioned “National Awards for the Meritorious Performance in the Power Sector” by the then Hon’ble Union Minister of State for Power on 4th February, 2014:
- Gold Shield for the year 2012-13 for Baspa-II Hydro Electric plant in the category of ‘Performance of Hydro Power Stations’.
- Gold Shield for the year 2011-12 for Baspa-II Hydro Electric plant in the category of ‘Performance of Hydro Power Stations’.
- Gold Shield for the year 2011-12 for Unit–IV of Karcham Wangtoo Hydro Electric plant in the category of ‘Early completion of Hydro Power Projects.
- Silver Shield for the year 2011-12 for Unit–II of Karcham Wangtoo Hydro Electric plant in the category of ‘Early completion of Hydro Power Projects’.
MANAGEMENT DISCUSSION
and ANALYSIS REPORT
ECONOMIC OVERVIEW
GLOBAL ECONOMY
As per ‘RBI Macroeconomic and Monetary Developments 2014-15 (an update)’ released by Reserve Bank of India on April 1, 2014, Recovery of Global economy is on track in 2014, though tightening financial conditions and the divergence in inflation pose risks. Since the January 2014 global growth outlook remains broadly unchanged though weaker initial data to some extent cloud optimism. Global economic activity had strengthened in second half of 2013.
On the current reckoning, global growth is likely to be in the vicinity of 3.5% in 2014, about ½% higher than in 2013. The expansion in global output is expected to be led by Advanced Economies (AEs), especially the US. However, downside risks to growth trajectory arise from ongoing tapering of Quantitative Easing (QE) in the US, continuing deflation concerns and weak balance sheets in the euro area and inflationary pressures in the Emerging Market and Developing Economies (EMDEs). Weakening growth and financial fragilities in China that have arisen from rapid credit in recent years pose a large risk to global trade and growth. RBI further stated that:
- Growth also picked up in the EMDEs during second half of 2013, but the momentum looks weaker than in the Advanced Economies and it faces new risks. Improved EMDE growth emanated largely from external demand on the back of currency depreciation in these countries. Going forward, drag on its sustainability may emerge from tightening monetary and financial conditions that can intensify further in case of a faster than - anticipated withdrawal of monetary accommodation by the AEs. Recent sovereign rating downgrade for Brazil and downward revision in rating outlook for Russia has also added to the growth risks for EMDEs.
- Global inflation remains benign with activity levels staying below potential in the Advanced Economies as well as in some large EMDEs and a softer bias for global commodity prices continuing into 2014. However, inflation in many EMDEs remains high, though actions in tightening monetary policy and slack in output are expected to help generate some disinflationary momentum. The divergent trends in inflation between Advanced Economies and EMDEs pose an added risk to global growth.
- After the unexpected shock from the May 2013 tapering indication by the US Fed, global financial markets have weathered the initial dose of actual tapering of the Quantitative Easing (QE) quite well. However, the global interest rate cycle has just begun to turn.
- Moreover, a large part of the withdrawal of monetary accommodation by Advanced Economies (AEs) remains to play out. Consequently, capital flows to EMDEs could remain volatile, even if they do not retrench. Also, with corporate leverage rising in many EMDEs, capital flow volatility could translate into liquidity shocks impacting asset prices.
INDIAN ECONOMY
The Reserve Bank of India in its said report further stated that:
- The Indian economy is set on a disinflationary path, but more efforts may be needed to secure recovery, while the global environment remains challenging, policy action in India has rebuilt buffers to cushion it against possible spillovers. These buffers effectively bulwarked the Indian economy against the two recent occasions of spillovers to EMDEs, the first, when the US Fed started the withdrawal of its large scale asset purchase programme and the second, which followed escalation of the Ukraine crisis. On both these occasions, Indian markets were less volatile than most of its emerging market peers. With the narrowing of the twin deficits – both current account and fiscal – as well as the replenishment of foreign exchange reserves, adjustment of the rupee exchange rate, and more importantly, setting in motion disinflationary impulses, the risks of near-term macro instability have diminished. However, this in itself constitutes only a necessary, but not a sufficient, condition for ensuring economic recovery. Much more efforts in terms of removing structural impediments, building business confidence and creating fiscal space to support investments will be needed to secure growth.
- Annual average CPI inflation has touched double digits or stayed just below for the last six years. This has had a debilitating effect on macro-financial stability through several channels and has resulted in a rise in inflation expectations and contributed to financial disintermediation, lower financial and overall savings, a wider current account gap and a weaker currency. A weaker currency was an inevitable outcome given the large inflation differential with not just the AEs, but also EMDEs. High inflation also had adverse consequences for growth. With the benefit of hindsight, it appears that the monetary policy tightening cycle started somewhat late in March 2010 and was blunted by a series of supply-side disruptions that raised inflation expectations and resulted in its persistence. Also, the withdrawal of the fiscal stimulus following the global financial crisis was delayed considerably longer than necessary and may have contributed to structural increases in wage inflation through inadequately targeted subsidies and safety net programmes.
- Since, second half of 2012-13, demand management through monetary and fiscal policies has been brought in better sync with each other with deficit targets being largely met. Delayed fiscal adjustment materialised only in second half of 2012-13, by which time the Current Account Deficit (CAD) had widened considerably. The easing course of monetary policy was disrupted by ‘tapering’ fears in May 2013 that caused capital outflows and exchange rate pressures amid unsustainable CAD, as also renewed inflationary pressures on the back of the rupee depreciation and a vegetable price shock. The Reserve Bank resorted to exceptional policy measures for further tightening the monetary policy. As a first line of defence, shorterm interest rates were raised by increasing the Marginal Standing Facility (MSF) rate by 200 bps and curtailing liquidity available under the liquidity adjustment facility (LAF) since July 2013. As orderly conditions were restored in the currency market by September 2013, the Reserve Bank quickly moved to normalise the exceptional liquidity and monetary measures by lowering the MSF rate by 150 bps in three steps. However, with a view to containing inflation that was once again rising, the policy repo rate was hiked by 75 bps in three steps.
- Recent
tightening, especially the last round of hike in January 2014, was aimed
at containing the second round effects of the food price pressures felt
during June-November 2013. Since then, inflation expectations have
somewhat moderated and the temporary relative price shock from higher
vegetable prices has substantially corrected along with a seasonal fall in
these prices, without further escalation in ex-food and fuel CPI
inflation. While headline CPI inflation receded over the last three months
from 11.2 per cent in November 2013 to 8.1 per cent in February 2014, the
persistence of ex-food and fuel CPI inflation at around 8 per cent for the
last 20 months poses difficult challenges to monetary policy.
- Against this
background there are three important considerations for the monetary
policy ahead. First, the disinflationary process is already underway with
the headline inflation trending down in line with the glide path envisaged
by the Urjit Patel Committee, though inflation stays well above comfort
levels.
- Second,
growth concerns remain significant with GDP growth staying sub-5 per cent
for seven successive quarters and Index of Industrial Production (IIP)
growth stagnating for two successive years. Third, though a negative
output gap has prevailed for long, there is clear evidence that potential
growth has fallen considerably with high inflation and low growth. This
means that monetary policy needs to be conscious of the impact of
supply-side constraints on long-run growth, recognizing that the negative
output gap may be minimal at this stage.
OUTLOOK
The Company has an established growth record
as a leading infrastructure Company with decisive competitive advantages. We believe
that the next decade in India belongs to infrastructure sector. While even the
smallest constituents of infrastructure sector will immensely benefit from it,
Jaiprakash Associates Limited shall not only benefit from the ensuing growth
phase of Infrastructure but actually lead the Infrastructure development of
India. Its future outlook appears bright for the following reasons:
- It is “Right
Placed” in the core infrastructure sectors of cement, power, roads, and
realty.
- It has “Right
Blend” i.e. diverse business mix leading to de-risked business model.
- It is “Right
Scaled” as it has leadership positions in almost all of its business
domains and scaling up of capacities across all of them. Ready and rolling
capacities will help it maximise from the growing demand. and
- It has the
“Right Span” from northern to southern India, western to eastern through
central India within its span of reach. It is based on the above facts
that the Company’s outlook appears very positive and given the favorable
conditions, the Company should grow at a rate higher than the economy and
most of the industry sub-verticals it operates in.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2014 |
|
1.
Income from operations |
|
|
a) Net sales/ Income from operation (net of excise duty) |
29936.600 |
|
b) Other operating income |
367.400 |
|
Total
income from Operations(net) |
30304.000 |
|
2.Expenditure |
|
|
a)
Cost of materials consumed |
7855.000 |
|
b)
Purchase of stock-in-trade |
0.000 |
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
249.400 |
|
d) Direct construction, Manufacturing,
Real Estate, Hotel / Hospitality and Power Expenses |
7365.000 |
|
e)
Employee benefits expense |
1916200 |
|
f)
Depreciation and amortisation expense |
2145.900 |
|
g)
Other expenses |
5001.200 |
|
Total expenses |
24532.700 |
|
3. Profit from operations before other income and
financial costs |
5771.300 |
|
4. Other income |
111.600 |
|
5. Profit from ordinary activities before finance costs |
5882.900 |
|
6. Finance costs |
8028.800 |
|
7. Net profit/(loss) from ordinary activities after
finance costs but before exceptional items |
7895.900 |
|
8. Exceptional item |
(2013.000) |
|
9. Profit from ordinary activities before tax
Expense: |
0.000 |
|
10.Tax expenses |
(4.300) |
|
11.Net Profit
/ (Loss) from ordinary activities after tax (9-10) |
(2017.300) |
|
12.Extraordinary Items (net of tax expense) |
(1211.200) |
|
13.Net Profit / (Loss) for the period (11 -12) |
(806.100) |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
4438.200 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
16.
Basic and diluted EPS [Not annualised] (Face Value of Rs. 2 per share) |
|
|
-Basic
EPS (Rs.) [Not annualised] |
(0.36) |
|
-Diluted
EPS (Rs.) [Not annualised] |
(0.32) |
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2014 |
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
|
|
- Percentage of shareholding |
1218925355 |
|
2. Promoters and Promoters group Shareholding- |
54.93% |
|
a) Pledged /Encumbered |
|
|
Number of shares |
|
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
11072500 |
|
Percentage of shares (as a % of total share capital of the
company) |
1.11% |
|
|
0.50% |
|
b) Non Encumbered |
|
|
Number of shares |
989085704 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
98.89% |
|
Percentage of shares (as a % of total share capital of the
company) |
44.57% |
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
121 |
|
Disposed of during the quarter |
121 |
|
Remaining unreserved at the end of the quarter |
Nil |
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
|
|
30.06.2014 |
|
1.Segment Revenue |
|
|
a) Cement and cement products |
16774.500 |
|
b) Construction |
11972.700 |
|
c) Power |
270.900 |
|
d) Hotel / Hospitality and Golf course |
580.800 |
|
e) Real Estate |
744.100 |
|
f) Others |
437.200 |
|
g) Unallocated |
23.900 |
|
Total |
30784.100 |
|
Less : Inter segment revenue |
480.100 |
|
Net Sales / Income
from Operations |
30304.000 |
|
|
|
|
2.Segment Results [Profit(+)/Loss(-) before
tax and interest from segment] |
|
|
a) Cement and cement products |
1715.600 |
|
b) Construction |
4213.800 |
|
c) Power |
10.200 |
|
d) Hotel / Hospitality and Golf course |
(17.100) |
|
e) Real Estate |
112.200 |
|
f) Investment |
(6.200) |
|
g) Others |
(25.400) |
|
h) Profit on Sale Of Shares |
0.000 |
|
Total |
6003.100 |
|
|
|
|
Less: i) Finance Cost |
7895.900 |
|
ii) Other unallocable expenditure net of
unallocable income |
124.500 |
|
Add: Interest Income |
-- |
|
Total Profit (+) /
Loss (-) Before Taxation |
(2017.300) |
|
|
|
|
Capital Employed (Segment Assets - Segment
Liabilities) |
|
|
a) Cement and cement products (including
capital work in progress) |
135086.600 |
|
b) Construction (including capital work in
progress) |
67496.800 |
|
c) Power (including capital work in
progress) |
29369.700 |
|
d) Hotel / Hospitality and Golf course (including
capital work in progress) |
5917.500 |
|
e) Real Estate (including capital work in
progress) |
39055.800 |
|
f) Investment |
96793.700 |
|
g) Others (including capital work in progress) |
5830.500 |
|
h) Un-allocated |
30791.300 |
|
Total Capital Employed
in Segments |
410341.900 |
Note:
- Previous Quarter's/Year figures have been regrouped / rearranged /
recast wherever necessary.
- During the quarter, the Company has implemented Schedule II of the
Companies Act, 2013, and has accordingly computed the depreciation as
prescribed under Schedule II to the Act or as per the actual useful life
of the assets, whichever is lower. The carrying value of assets which have
completed its depreciation period as on April 01, 2014 have been adjusted
against the General Reserve. The remaining assets have been depreciated
over their remaining useful life and as a result higher depreciation of
Rs. 172 Lakhs has been recognised as charge in the Statement of Profit and
Loss for the quarter ended June 30, 2014.
- The Scheme of Arrangement between Jaypee Cement Corporation
Limited, wholly owned subsidiary of the Company and UltraTech Cement
Limited for sale of Gujarat Cement Plant comprising an integrated 2.4 MTPA
Cement Plant at Kutch and 2.4 MTPA Cement Grinding Unit at Wanakbori has
been completed on June 12, 2014. In terms of the scheme, 1, 14,382 equity
shares of Rs. 10/- each, fully paid up, of Ultratech Cement Limited have
been allotted to the Company towards the consideration, pending
finalisation of the closing Balance Sheet.
- The Board has accepted the recommendation of the Restructuring
Committee for amalgamation of Jaypee Sports International Limited (JPSI)
(the wholly owned subsidiary of the Company), with the Company, which will
be subject to various regulatory and other approvals and sanction of the
Scheme of Amalgamation by the Hon'ble High Court/Tribunal of competent
jurisdiction.
- 189,316,882 Equity Shares held by the four Trusts, of which the
Company is the sole beneficiary, are also pledged for securing the loans
obtained by the Company.
- The above results for the quarter ended June 30, 2014 are
Unaudited. The above results have been subjected to a limited review by
the Statutory Auditors in terms of the Clause 41 of the Listing Agreement.
The above results have been reviewed by the Audit Committee and then
approved by the Board of Directors in their respective meetings held on
August 12, 2014
INDEX OF CHARGE:
|
Address |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10521951 |
28/08/2014 |
13,000,000,000.00 |
IDBI Bank Limited |
Indian Red Cross
Society Building, Red Cross Road, |
C22351837 |
|
2 |
10517097 |
02/08/2014 |
82,380,527.45 |
The Pradeshiya
Industrial and Investment Corporation |
PICUP Bhawan, Gomti Nagar,, Lucknow, Uttar Pradesh - 226010, India |
C18606343 |
|
3 |
10517112 |
02/08/2014 |
145,900,000.00 |
The Pradeshiya
Industrial and Investment Corporation |
Picup Bhawan, Gomti
Nagar,, Lucknow, Uttar Pradesh |
C18610949 |
|
4 |
10511044 |
30/06/2014 |
5,000,000,000.00 |
Canara Bank |
Prime Corporate Branch-I, Plot No.1, DDA Building, Ist Floor, Nehru Place, New Delhi, Delhi - 110019, India |
C13541743 |
|
5 |
10511078 |
30/06/2014 |
20,000,000,000.00 |
State Bank of India |
Corporate Accounts Group Branch, 11th and 12th Floor, Jawahar Vyapar Bhawan, 1 Tolstoy Marg, Delhi - 110001, India |
C13584107 |
|
6 |
10496007 |
16/05/2014 |
5,000,000,000.00 |
Bank of Maharashtra |
A-13 Bank of
Maharashtra, South Extension Part I, |
C04847356 |
|
7 |
10494110 |
07/05/2014 |
15,000,000,000.00 |
ICICI Bank Limited |
Icici Bank Towers,
Bandra Kurla Complex,, Mumbai, |
C04116729 |
|
8 |
10511360 |
02/05/2014 |
16,450,000,000.00 |
IDBI Trusteeship Services Limited |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, India |
C13909296 |
|
9 |
10475099 |
29/01/2014 |
4,000,000,000.00 |
Small Industries Development Bank of India |
Sidbi Tower,, 15, Ashok Marg, Lucknow, Uttar Pradesh - 226001, India |
B95300836 |
|
10 |
10481988 |
11/01/2014 |
2,000,000,000.00 |
Yes Bank Limited |
9th Floor, Nehru
Centre, Discovery Of India,, Dr. |
B98272230 |
FIXED ASSETS:
- Land
- Building
- Purely
Temporary Erections
- Railway
siding
- Plant and
Machinery
- Captive
Thermal Power Plant
- Wind Turbine
generators
- Golf Course
- Miscellaneous
Fixed Assets
- Motor
Vehicles
- Furniture and
Office Equipment
- Ships: Boat
- Aero plane /
Helicopter
- Technical
Books
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
UK Pound |
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
60 |
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.