MIRA INFORM REPORT

 

 

Report No. :

315359

Report Date :

02.04.2015

 

IDENTIFICATION DETAILS

 

Name :

AIRPORTS AUTHORITY OF INDIA

 

 

Registered Office :

Rajiv Gandhi Bhavan Safdarjung Airport, Aurobindo Marg, New Delhi – 110003

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Capital Investment / Paid-up Capital :

Rs. 6565.565 Million

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELA07348F / DELA00223G

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Subject is an Organization

 

 

Line of Business :

Airport Authority

 

 

No. of Employees :

Information declined by the management.

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (80)

 

RATING

STATUS

PROPOSED CREDIT LINE

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

Large

 

 

Maximum Credit Limit :

USD 250000000

 

 

Status :

Excellent 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a well-established and reputed organization having excellent track record.

 

It creates, upgrades, maintains, and manages civil aviation infrastructure on the ground and within the territorial boundaries of India.

 

The rating reflects AAI’s robust financial risk profile supported by its dominant position in airport management in India with 120 plus airports under its control and strategic importance to the Government of India. 

 

Trade relations are reported as trustworthy. Business is active. Payments are reported to be regular and as per commitment.

 

The subject 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long – Term Borrowing Programme AAA

Rating Explanation

Highest degree of safety and carry lowest credit risk.

Date

27 March, 2015

 

 

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

 

Management Non Co-operative (91-11-24632950)

 

 

LOCATIONS

 

Registered/ Corporate Office :

Rajiv Gandhi Bhavan Safdarjung Airport, Aurobindo Marg, New Delhi – 110003, India

Tel. No.:

91-11-24693160 / 24632950

Fax No.:

91-11-24632990 / 24629567 / 24697211 / 24693963

E-Mail :

info@airportsindia.org.in

Website :

http://www.airportsindia.org.in

 

 

Branches :

·         East Block – VII, Level – II, sector – 1, R. K. Puram, New Delhi – 110066, India

Tel No. – 91-11-26711384

Residence No- 91-11-27425446

Fax No. 91-11-26711348

Contact To Mr. Sandeep Goel

Email – frrodelhi@hotmail.com

 

·         3rd Floor, Special Branch Building, Badruddin Tayabji Lane, Behind St. Xaviers College, Mumbai – 400001, Maharashtra, India

Tel No. 91-22-22621169

Fax No. 91-22-22620721

Email – dcpsb2.frro@indiatimes.com

Contact to Mr. Deven Bharti

 

·         Shastri Bhavan, 26m, Haddows Road, Chennai – 600006, Tamilnadu, India

Tel No. 91-44-28240338

Contact to Mr. Amaresh Pujari

 

·         237, Acharya Jagdish Chandra Bose Road, Kolkata – 700020, West Bengal, India

Tel. No. 91-33-22470549

Contact to Mr. P.K. Chattopadhyay

 

·         123-D, Ranjit Avenue, Amritsar – 143001, Punjab, India

Tel. No. 91-183-2508250

     Contact to Mr. Kulwant Kumar

 

 

DIRECTORS

 

AS ON 31.03.2013

 

Name :

Mr. V.P. Agrawal

Designation :

Chairman

 

 

Name :

Mr. Arun Mishra, IAS

Designation :

Director General of Civil Aviation and Ex-Officio Member

 

 

Name :

Mr. S. Machendranathan

Designation :

Special Secretary and Financial Advisor

 

 

Name :

Mr. Alok Sinha

Designation :

Joint Secretary, Ministry of Civil Aviation

 

 

Name :

Mr. Anil Srivasatava

Designation :

Joint Secretary, Ministry of Civil Aviation

 

 

Name :

Mr. K. K. Jha

Designation :

Member (HR)

 

 

Name :

Mr. S. Raheja

Designation :

Member (Planning)

 

 

Name :

Mr. V. Somasundaram

Designation :

Member (ANS)

 

 

Name :

Mr. G. K. Chaukiyal

Designation :

Director (Operations)

 

 

Name :

Mr. S. Suresh

Designation :

Member (Finance)

 

 

Name :

Mr. M.C. Kishore

Designation :

Executive Director (CA) and CS

 

 

BUSINESS DETAILS

 

Line of Business :

Airport Authority

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Not Available

 

 

Purchasing :

Not Available

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

New Delhi, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loans

31.03.2013

31.03.2012

 

 

(Rs. In Million)

7.40% Secured Non convertible redeemable Bonds 2013 of Rs. 1.000 Million each, redeemable at par at the end of 3rd year from date of allotment January 22, 2010 (Bonds are secured on pari passu basis, by charge on pieces or parcels of non-agricultural lands situate/lying and being at Airport Campus, Cantonment, Ahmedabad bearing survey numbers of Mouje Sardarnagar and Hansol of City Taluka in the Registration District Ahmedabad.)

0.000

3000.000

9.20% Secured Non convertible redeemable Bonds 2016 of Rs. 1.000 Million each, redeemable at par at the end of 5th year from date of allotment February 21, 2011 (Bonds are secured on pari passu basis, by charge on pieces or parcels of non agricultural lands having various revenue survey numbers of Hansol, Taluka city, District Ahmedabad)

3000.000

3000.000

9.30% Secured Non convertible redeemable Bonds 2016 of Rs. 1.000 Million each, redeemable at par at the end of 5th year from date of allotment September 14, 2011 (Bonds are secured on pari passu basis, by charge on pieces or parcels of non agricultural lands having various revenue survey numbers of Hansol, Taluka city, District Ahmedabad)

2150.000

2150.000

Total

5150.000

8150.000

 

 

 

Auditors :

Not Divulged

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Joint Ventures :

  • Delhi International Airport Private Limited (DIAPL)
  • Mumbai International Airport Private Limited (MIAPL)
  • Hyderabad International Airport Private Limited (HIAL)
  • Bangalore International Airport Private Limited (BIAL)
  • National Flying Training Institute, Gondia (NFTIPL)
  • Mihan India Private Limited, Nagpur
  • Chandigarh International Airport Private Limited
  • Indian Aviation Academy 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Sr. No.

Particulars

Rs. In Million

 

 

 

 

1.

Balance at the beginning of the year

6565.565

 

 

 

 

Total

 

6565.565

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

6565.565

6565.565

6556.115

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

81745.878

76104.381

69609.688

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

88311.443

82669.946

76165.803

LOAN FUNDS

 

 

 

1] Secured Loans

5150.000

8150.000

6000.000

2] Unsecured Loans

14121.898

13272.325

6252.389

TOTAL BORROWING

19271.898

21422.325

12252.389

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

CAPITAL GRANTS

370.487

5471.092

4407.972

 

 

 

 

TOTAL

107953.828

109563.363

92826.164

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

92301.682

59094.290

53601.489

Capital work-in-progress

12055.510

43916.790

37475.232

 

 

 

 

INVESTMENT

10912.304

10863.140

9761.390

DEFERRED TAX ASSETS

9999.630

8201.817

6673.559

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Stores and Spares

553.591
902.729
926.343

 

Sundry Debtors
15939.788
15165.140
10219.861

 

Cash & Bank Balances
856.526
1137.426
1062.097

 

Deposits, Loans and Advances
38480.042
34889.746
45001.145

 

Interest accrued on investments or deposits

3.324
3.283
5.794

 

Prepaid expenses

110.132
68.604
50.336

 

Income accrued but not due

2183.570
1913.432
2146.811

Total Current Assets
58126.973
54080.360
59412.387

Less : CURRENT LIABILITIES & PROVISIONS
 
 

 

 

Sundry Creditors
283.487
125.617
145.237

 

Other Current Liabilities
24762.223
20856.761
22386.842

 

Provisions
50396.561
45610.656
51565.814

Total Current Liabilities
75442.271
66593.034
74097.893

Net Current Assets
(17315.298)
(12512.674)
(14685.506)

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

107953.828

109563.363

92826.164

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Traffic Revenue

32231.896

32481.602

29582.033

 

 

Non Traffic Revenue

8432.366

7424.246

6367.633

 

 

Cargo Revenue

1769.579

2181.879

2292.839

 

 

Income from Leasing of Airports

21153.164

12377.663

10463.538

 

 

Other miscellaneous Income

4904.020

4202.264

2686.013

 

 

Prior period adjustments

682.775

118.931

0.000

 

 

TOTAL                                     (A)

69173.800

58786.585

51392.056

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Pay and allowances

20457.878

15304.936

12637.661

 

 

Other staff cost

5037.156

4690.277

3913.211

 

 

Operating expenses

12989.722

11503.801

9681.037

 

 

Other administrative and misc. expenses

3343.895

1753.946

1866.150

 

 

Prior period adjustments

0.000

0.000

336.447

 

 

TOTAL                                     (B)

41828.651

33252.960

28434.506

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

27345.149

25533.625

22957.550

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

310.479

447.056

111.470

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

27034.670

25086.569

22846.080

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

12036.042

10100.901

8933.586

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

14998.628

14985.668

13912.494

 

 

 

 

 

Less

TAX                                                                  (H)

7648.660

6395.610

5448.619

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

7349.968

8590.058

8463.875

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to Specific Reserves

6281.597

2636.877

2598.492

 

 

Dividend

1470.000

1719.000

1693.000

 

 

Tax on Dividend

238.472

278.865

274.647

 

 

Transferred from Provision/others

0.000

0.000

0.000

 

BALANCE CARRIED TO THE B/S

(640.101)

3955.316

3897.736

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Total Income)

(%)
10.63

14.61

16.47

 

 
 

 

 

Operating Profit Margin

(PBDIT/ Total Income)

(%)
39.53

43.43

44.67

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
9.97

13.24

12.31

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.17

0.18

0.18

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
0.22

0.26

0.16

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
0.77

0.81

0.80

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

6556.115

6565.565

6565.565

Reserves & Surplus

69609.688

76104.381

81745.878

Net worth

76165.803

82669.946

88311.443

 

 

 

 

Secured Loans

5150.000

8150.000

6000.000

Unsecured Loans

14121.898

13272.325

6252.389

Total borrowings

19271.898

21422.325

12252.389

Debt/Equity ratio

0.253

0.259

0.139

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

51392.056

58786.585

69173.800

 

 

14.388

17.669

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

51392.056

58786.585

69173.800

Profit

8463.875

8590.058

7349.968

 

16.47%

14.61%

10.63%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

No

8]

No. of employees

No

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--------------------------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

----------------------

22]

Litigations that the firm / promoter involved in

Yes

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

----------------------

26]

Buyer visit details

-----------------------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

No

30]

Major Shareholders, if available

No

31]

Date of Birth of Proprietor/Partner/Director, if available

No

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

LITIGATION DETAILS

 

 

IN THE HIGH COURT OF DELHI AT NEW DELHI


CS(OS) 3474/2014


MAHESH SUNNY ENTERPRISES PVT LIMITED Plaintiff


Through: Mr. Rajveer Singh, Mr. Ashish Virmani, Advs.


  
versus
  
  
AIRPORTS AUTHORITY OF INDIA ..... Defendant


  
Through: None


  
  
  
CORAM:
  
SH. KOVAI VENUGOPAL (DHJS), JOINT REGISTRAR (JUDICIAL)


  
  
 O R D E R


  
18.11.2014
  
  
IA 22545/2014 (U/S 151 CPC-exemption from filing certified copies)


  
Heard.
  
For the reasons stated in the application, exemption allowed subject to all just exceptions.


IA disposed of accordingly.


  
CS(OS) 3474/2014


 

Fresh suit received. Let it be checked and registered.

 

Contents of plaint perused.

 

This is a suit for recovery filed by plaintiff on the ground that defendant has illegally deducted the service tax.

 

Issue summons of the suit to the defendant by all modes, returnable for 18th March, 2015.


  
  
 KOVAI VENUGOPAL (DHJS)


 JOINT REGISTRAR (JUDICIAL)


 NOVEMBER 18, 2014


 dsn
  
 $ 40

 

 

INTRODUCTION

 

Airports Authority of India (AAI) came to existence on 1st April 1995. AAI has been constituted as a Statutory Authority under the Airports Authority of India Act, 1994. It has been created by merging the erstwhile International Airports Authority of India and National Airports Authority with a view to accelerate the integrated development, expansion and modernization of the air traffic services, passenger terminals, operational areas and cargo facilities at the airports in the country.

 

The main functions of the Authority are as under -

  • Control and management of the Indian air space (excluding special user air space) extending beyond the territorial limits of the country as accepted by ICAO.

 

  • Provision of Communication, Navigational and Surveillance Aids.

 

  • Expansion and strengthening of operational areas viz. Runways, Aprons, Taxiways, etc. and provision of ground based landing and movement control aids for aircrafts & vehicular traffic in operational area.

 

  • Design, development, operation and maintenance of passenger terminals.

 

  • Development and management of cargo terminals at international and domestic airports.

 

  • Provision of passenger facilities and information systems in the passenger terminals.

 

AAI owns and maintains 125 airports comprising 68 operational airports, 26 Civil Enclaves, i.e. Civil Air Terminals at Defence controlled airports where AAI handles civil flight operations and 3 1 non-operational airports. In addition, AAI provides Air Navigation Services (ANS) at all civil airports in the country. AAI manages the designated Indian air space measuring 2.8 million square nautical miles which includes land area measuring 1.05 million square nautical miles and oceanic airspace measuring 1.75 million square nautical miles. Air Navigation Services are also provided by the. AAI at 9 other airports that are not managed by 14/41 namely Bangalore, Hyderabad, Cochin, Lengpui, Diu, Latur, Mundra, Nanded and Sathya Sai Puttaparthy Airports, which are joint venture airports, State Government owned airports and private airports.

 

The Authority continued with its mandate of creating more airport infrastructure and navigation infrastructure across the length and breadth of the nation. New Terminal Buildings were commissioned at Chennai, Kolkata, Raipur, Ranchi, Bhubaneswar, Jaisalmer, Bhatinda and Puducherry airports.

 

Details of works completed during the year am given below

Chennai International Airport

 

(a) Development of Kamraj Domestic Terminal (Ph-11);

(b) Expansion of Anna International Terminal;

(c) New Fire Station Building (Category - X);

(d) Integrated Cargo Terminal (Ph-Ill); and

(e) Angular Taxi Track connecting Main Runway 07-25 & B taxi track

 

Ø  New Integrated Terminal at NSCBl Airport, Kolkata.

Ø  New Integrated Terminal Building, Raipur Airport.

Ø  New Civil Enclave at Bhatinda Airport

Ø  New Civil Enclave at Jaisalmer Airport

Ø  New lntegtated Terminal Building at Ranchi Airport

Ø  New Terminal Building at Bhubaneswar Airport.

Ø  Hangar, Annexe Building, Apron and Link Taxiway etc. at Portblair Airport

Ø  New Terminal Building including car park at Puducheny Airport.

Ø  New Fire Station at Dibrugarh Airport

Ø  Second Module of Passenger Lounge and allied works at Gondia Airport

Ø  New Apron at Tirupati Airport

Ø  Expansion of Apron at Jammu Airport

 

 

Development Activities in North East Region during 2012-13

 

AAI is committed to providing airport infrastructure in remote areas and in small towns to improve - connectivity to these areas. As a part of this programme, a large number of works have been taken up in the North-East Region of the country. The details of these projects are given below

 

 

Greenfield Airports

 

SIKKIM

 

Pakyong Airport

 

  • Work is in Progress for construction of a new Greenifield Airport at Pakyong in Sikkim by Airports Authority of India for operation of ATR type of aircraft at a cost of Rs, 3100.000 Million.

 

  • Physical Progress 70% (Approximately) up to March, 2013. PDC December, 2014. 

 

 

ARUNACHAL PRADES

 

Itanagar

 

  • State Govt, approved the construction of a Greenfield airport at Holongi site on 24th July, 2012, Detailed project Report under preparation.

 

Tezu

 

  • AAI entrusted to develop, operate and maintain the airport for ATR-72 operations.

 

  • Work is in progress for upgradation of the airport for operation of ATR type of aircraft. Overall 9% works has been completed. PDC December, 2014.

 

  • Construction of boundary wall for length of 4600, completed.

 

ASSAM

 

  • Guwahati

 

  • Modernization of ATC tower completed to enhance the efficiency of Air Traffic Services.

 

  • 50KVA Roof-top Solar Power Plant commissioned.

 

  • Work is in progress for construction of three number of hangars for A-32 1 type of aircraft. PDC September, 20 14.

 

Dibrugarh

 

  • Construction of Doppler Weather Radar for Metrological Department at Dibrugarh.

 

  • Construction of Fire Station.

 

MANIPUR

 

Imphal

 

  • Modernization of ATC Tower completed.

 

  • A community Hall with an outlay of Rs. 20.000 Million has been commissioned for Multi purpose activities.

 

  • Boundary wall on newly acquired 640 acres of land at an estimated cost of Rs. 148.100 Million is in progress.

 

  • Expansion of Apron and link taxiway for additional 2 Boys at an estimated cost of Rs. 80.000 Million is in progress to facilitate international Operations.

 

  • Modification of Terminal Building as integrated terminal at an estimated cost of Rs. 43.000 Million is in progress to facilitate International Operations.

 

 

MEGHALAYA

 

Shillong (Barapani)

 

  • Work is in progress for compound wall on newly acquired land.

 

TRIPURA

 

Agartala

 

  • Construction of control Tower completed

 

  • Construction of Doppler Rada Building also completed

 

 

FUTURE OUTLOOK

 

AAI continued with its mission of constructing more and more airport infrastructure for improving the air connectivity especially to airports in tier 2 and tier 3 cities and remote and hilly areas. Parallelly, upgradation of the ANS infrastructure is also being undertaken on a massive scale.

 

The year 2013-14 is going to be a difficult year considering the fact that theirrevenues are under pressure due to non-payment of outstandings by various airlines including the national carrier namely, Air India the Government has permitted AAI to float interest free bonds for an amount of Rs. 5000.000 Million during the financial year 2013-14. AAI continues to pursue with the Ministry and AERA for revision in the airport charges as well as UDF at a number of major and non-major airports so that the financial health of the Organization remains strong.

 

The Government has also taken a decision to undertake operation and management of six airports in the country through PPP mode and these airports are Kolkata, Chennai, Ahmedabad, Jaipur, Lucknow and Guwahati. The Government hopes that award of contract to the concessionaire for operation, management and transfer in respect of these six airports shall be completed by March, 20 14.

 

 

UNSECURED LOANS

 

Unsecured Loans

31.03.2013

31.03.2012

 

 

(Rs. In Million)

Budgetary support loans provided by the central government U/s.23(b) of Act

0.000

9.450

Others :

8.97% Unsecured Non convertible redeemable Bonds 2016 of Rs. 1.000 Million each, redeemable at par at the end of 5th year from date of allotment October 11, 2011***

5950.000

6000.000

8.60% Unsecured Non convertible redeemable Bonds 2018 of Rs. 1.000 Million each, redeemable at par at the end of 5th year from date of allotment October 17, 2013 with put/call option (17.01.2015)

5000.000

0.000

Short Term loans from banks**

2700.000

6800.000

Other Loans

40.000

40.000

Foreign loans:

 

 

(I) From Foreign Financial Institutions *

431.898

422.875

Total

14121.898

13272.325

 

Note:

 

* Guaranteed by GOI.

** Short term loans (due or repayable within one year).

*** Out of Rs. 6000.000 Million only one bond holders exercised put option for Rs. 50.000 Million

 

 

 

 

CONTINGENT LIABILITIES

(Rs. In Million)

Particulars

31.03.2013

31.03.2012

 

Land cases

4874.995

2400.857

Compensation claims of accident

196.973

189.857

Cases under arbitration

4794.876

4684.657

Claim against cargo

155.581

147.108

Court cases

1780.081

1592.934

Sales tax/ Municipal tax/ Income tax etc.

1829.920

1455.148

Others

788.020

1675.705

 

 

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. 62.59

UK Pound

1

Rs. 92.46

Euro

1

Rs. 67.51

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--PROFITABILITY

1~10

9

--LIQUIDITY

1~10

9

--LEVERAGE

1~10

9

--RESERVES

1~10

9

--CREDIT LINES

1~10

9

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

80

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.