MIRA INFORM REPORT
|
Report No. : |
314062 |
|
Report Date : |
23.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED (w.e.f. 06.01.2012) |
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Formerly Known
As : |
MUNDRA PORT AND SPECIAL ECONOMIC ZONE LIMITED |
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Registered
Office : |
“Adani House”, Near Mithakhali Six Roads, Navrangpura,
Ahmedabad – 380 009, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
26.05.1998 |
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Com. Reg. No.: |
04-034182 |
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Capital
Investment / Paid-up Capital : |
Rs.4168.214 million |
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CIN No.: [Company Identification
No.] |
L63090GJ1998PLC034182 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG00515E |
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PAN No.: [Permanent Account No.] |
AAACG7917K |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is
engaged in the business of developing, operating and maintaining the Port and
Port based related infrastructure facilities including Multi product Special
Economic Zone. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
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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 |
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Maximum Credit Limit : |
USD 266740000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Adani Group. It is an established company having good track record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal 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 – 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 |
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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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-Term Rating: AA- |
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Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
07.03.2013 |
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Rating Agency Name |
CRISIL |
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Rating |
Short-Term Rating: A1+ |
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Rating Explanation |
Very strong degree of safety and carrying lowest credit risk |
|
Date |
07.03.2013 |
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 DECLINED BY
|
Name : |
Mr. Jaymin Patel |
|
Designation : |
Associate Manager |
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Contact No.: |
91-79-26565555 |
LOCATIONS
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Registered Office : |
“Adani House”, Near Mithakhali Six Roads, Navrangpura,
Ahmedabad – 380 009, Gujarat, India |
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Tel. No.: |
91-79-26565555/ 25555101/ 102 |
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Fax No.: |
91-79-26565500 |
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E-Mail : |
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Website : |
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Corporate Office : |
"Adani Corporate House", Plot No.83, Institutional Area, Sector 32, Gurgaon – 122 001, Haryana, India |
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Tel. No.: |
91-124-2555000 |
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Fax No.: |
91-124-2555010 |
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Site Office : |
Post Box No.1, Navinal Island, Mundra, Kutch – 370 421,
Gujarat, India |
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Tel. No.: |
91-2838-255000 |
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Fax No.: |
91-2838-255110 |
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E-Mail : |
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Branch Office 1 : |
62, Maker Chambers III, 6th Floor, Nariman
Point, Mumbai – 400 021, Maharashtra, India |
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Tel. No.: |
91-22-22885066/ 22022479 |
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Fax No.: |
91-22-22022323/ 22854150 |
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Branch Office 2 : |
Adani Group, 6th Floor, Hall Mark Business
Plaza, Opposite Guru Nanak Hospital, Bandra (East), Mumbai – 400 051,
Maharashtra, India |
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Tel. No.: |
91-22-66881111 |
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Fax No.: |
91-22-26561555/ 26561515 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Gautam S. Adani |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Rajesh S. Adani |
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Designation : |
Director |
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Name : |
Dr. Malay Mahadevia |
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Designation : |
Whole Time Director |
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Name : |
Mr. Sudipta bhattacharya |
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Designation : |
Whole Time Director (w.e.f. 15.05.2014) |
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Name : |
Mr. Arun Duggal |
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Designation : |
Director |
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Name : |
Mr. D. T. Joseph |
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Designation : |
Director (Retd.) |
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Date of Birth/Age : |
21.12.1945 |
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Qualification : |
M.A., IAS |
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Date of Appointment : |
17.09.2007 |
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Brief Profile covering experience, achievements etc.: |
Mr. D. T. Joseph is an Independent Director of the Company. He holds a master's degree in English from the University of Madras. He is a former Indian Administrative Service officer. He has served the Government of India and the Government of Maharashtra in various capacities including Secretary Shipping and Director General of Shipping. He was elected as President at the International Maritime Organization's Plenary Conference in February 2004. |
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Name : |
Prof. G. Raghuram |
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Designation : |
Director |
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Name : |
Mr. Sanjay Lalbhai |
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Designation : |
Director |
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Date of Birth/Age : |
10.04.1954 |
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Qualification : |
B.Sc., M.B.A |
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Date of Appointment : |
24.12.2012 |
|
Brief Profile covering experience, achievements etc.: |
Mr. Sanjay Lalbhai is an Independent Director of the Company. He holds a bachelor's degree in science from Gujarat University and a master's degree in business management from Jamnalal Bajaj Institute of Management Studies. He is the chairman and managing director of Arvind Limited. He is the president of Ahmedabad Education Society and the Ahmedabad University. He is a member of the board of governors of the Indian Institute of Management, Ahmedabad. He is also chairman of Ahmedabad Textile Industries Research Association and a member of the council of management of the Physical Research Laboratory. He is also the chairman of Center for Environmental Planning and Technology. Mr. Sanjay Lalbhai is a member on the governing body of Adani Institute of Infrastructure Management. |
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Name : |
Mr. A. K. Rakesh |
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Designation : |
Director |
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Qualification : |
IAS |
KEY EXECUTIVES
|
Name : |
Ms. Dipti Shah |
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Designation : |
Company Secretary |
|
Name : |
Mr. Jaymin Patel |
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Designation : |
Associate Manager |
SHAREHOLDING PATTERN
AS ON 30.12.2014
|
Category of Shareholder |
No. of Shares |
Percentage of holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
147075 |
0.01 |
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|
1552361640 |
74.99 |
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|
30000 |
0.00 |
|
|
30000 |
0.00 |
|
|
1552538715 |
75.00 |
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|
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Total
shareholding of Promoter and Promoter Group (A) |
1552538715 |
75.00 |
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(B)
Public Shareholding |
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|
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|
23099147 |
1.12 |
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|
1917340 |
0.09 |
|
|
4010 |
0.00 |
|
|
28715179 |
1.39 |
|
|
374791116 |
18.11 |
|
|
7893914 |
0.38 |
|
|
7893914 |
0.38 |
|
|
436420706 |
21.08 |
|
|
|
|
|
|
24346044 |
1.18 |
|
|
|
|
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|
37917828 |
1.83 |
|
|
13279262 |
0.64 |
|
|
5549065 |
0.27 |
|
|
3082010 |
0.15 |
|
|
1000664 |
0.05 |
|
|
25 |
0.00 |
|
|
1463040 |
0.07 |
|
|
3326 |
0.00 |
|
|
81092199 |
3.92 |
|
Total
Public shareholding (B) |
517512905 |
25.00 |
|
Total
(A)+(B) |
2070051620 |
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) |
2070051620 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the business of developing, operating and maintaining the Port and
Port based related infrastructure facilities including Multi product Special
Economic Zone. |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
Note : LONG TERM
BORROWINGS
a) Rupee term loan of Rs.1250.000 Million (previous year Rs.2500.000 Million) carry interest @11% p.a. The outstanding loan amount is repayable in 2 quarterly installments of Rs625.000 Million from the balance sheet date. The loan is unsecured. b) Foreign Currency Loan aggregating of Rs.246.400 Million (previous year Rs.285.600 Million) carry interest @2.12 % p.a. The outstanding loan amount is repayable in 12 Semi- annually installment of Rs.20.500 Million from the date of balance sheet. The loan is unsecured SHORT TERM
BORROWINGS
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Banking
Relations : |
-- |
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Financial Institution : |
IDBI
Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg,
Ballard Estate, Mumbai – 400 001, Maharashtra, India |
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Auditors : |
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Name : |
S. R. Batliboi and Associates LLP Chartered Accountants |
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Address : |
Ahmedabad, Gujarat, India |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Holding Company : |
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Subsidiary
Companies: |
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Entity held through
Controlling Interest : |
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Step down
Subsidiary |
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Joint Venture : |
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Associate : |
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Fellow Subsidiary : |
Address : Achal Raj, Opposite mayor bungalow , law Garden, Ahmedabad, Gujarat, India
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|
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Entities over which
Key Management Personnel, Directors and their relatives are able to exercise Significant
Influence : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4975000000 |
Equity Shares |
Rs.2/- each |
Rs.9950.000 Million |
|
5000000 |
Non-Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
Total |
|
Rs.10000.000
Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2070051620 |
Equity Shares |
Rs.2/- each |
Rs.4140.103 Million |
|
2811037 |
Non-Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.28.110 Million |
|
|
Total |
|
Rs.4168.213
Million |
|
|
|
|
|
a) Reconciliation of the
shares outstanding at the beginning and at the end of the reporting year
|
Preference Shares |
31.03.2014 |
|
|
|
No. of Shares |
Rs. in Million |
|
At the beginning of the year |
2811037 |
28.100 |
|
Outstanding at the end of the year |
2811037 |
28.100 |
|
|
|
|
|
Equity Shares |
|
|
|
At the beginning of the year |
2003394100 |
4006.800 |
|
Add: Issued during the year |
66657520 |
133.300 |
|
Outstanding at the end of the year |
2003394100 |
4006.800 |
b) Terms/rights
attached to equity shares
The company has only one class of equity shares having a par value of Rs.2 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The final dividend recommended by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
For the current financial year 2013-14 the Company proposed a final dividend of Re.1.00 per share. (For the previous financial year the Company proposed and paid a final dividend of Re.1.00 per share).
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
c) Terms of
Non-cumulative redeemable preference shares
The Company has 28,11,037 outstanding 0.01 % Non-Cumulative Redeemable Preference Shares ('NCRPS') of Rs. 10 each issued at a premium of Rs.990 per share. Each holder of preference shares has a right to vote only on resolutions placed before the company which directly affects the right attached to preference shareholders. These shares are redeemable on March 28, 2024 at an aggregate premium amount of Rs.2782.900 Million. The Company credits the redemption premium on proportionate basis every year to Preference Share Capital Redemption Premium Reserve and debits the same to Securities Premium Account as permitted by Section 78 of the Companies Act, 1956.
In the event of liquidation of the company the holder of NCRPS will have priority over equity shares in the payment of dividend and repayment of capital.
d) Shares held by holding/ultimate
holding company and/or their subsidiaries/associates
Out of equity shares issued by the company, shares held by its holding company, are as below:
|
|
31.03.2014 (Rs.
in million) |
|
Adani Enterprise Limited, the holding company 1552361640
(Previous year 1552361640 equity share) equity shares of Rs.2 each fully paid
|
3104.700 |
e) Details of
shareholders holding more than 5% shares in the company
|
|
31.03.2014 |
|
|
|
No. of Shares |
% of Holding |
|
Equity shares of Rs.2 each fully paid |
|
|
|
Adani Enterprises Limited, holding company |
1552361640 |
77.49% |
|
Non-Cumulative Redeemable Preference Shares of Rs.10
each fully paid up |
|
|
|
Gujarat Ports Infrastructure and Development Company Limited |
309213 |
11.00% |
|
Priti G. Adani |
500365 |
17.80% |
|
Shilin R. Adani |
500364 |
17.80% |
|
Pushpa V. Adani |
500365 |
17.80% |
|
Ranjan V. Adani |
500455 |
17.80% |
|
Suvarna M. Adani |
500275 |
17.80% |
As per of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
f) During the year Company completed its Institutional placement programme (IPP) under chapter VIIIA of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009, as amended, which opened on June 4, 2013 and closed on the same date. Pursuant this, 66657520 equity shares of Rs.2 each at a premium of Rs.148 per share were allotted on June 7, 2013.
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
4168.200 |
4034.900 |
4034.900 |
|
(b) Reserves &
Surplus |
89190.700 |
63004.800 |
48179.500 |
|
(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) |
93358.900 |
67039.700 |
52214.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
78612.200 |
74046.100 |
41328.100 |
|
(b) Deferred tax
liabilities (Net) |
6707.900 |
5529.700 |
4297.500 |
|
(c) Other long term
liabilities |
8863.400 |
5768.200 |
6035.100 |
|
(d) long-term provisions |
2810.300 |
465.800 |
0.000 |
|
Total Non-current
Liabilities (3) |
96993.800 |
85809.800 |
51660.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4055.500 |
3947.000 |
10048.900 |
|
(b) Trade payables |
2166.700 |
1297.500 |
1823.300 |
|
(c) Other current
liabilities |
9427.400 |
21470.500 |
13438.400 |
|
(d) Short-term provisions |
3041.500 |
2988.400 |
2579.900 |
|
Total Current Liabilities
(4) |
18691.100 |
29703.400 |
27890.500 |
|
|
|
|
|
|
TOTAL |
209043.800 |
182552.900 |
131765.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
84814.200 |
77093.700 |
57428.900 |
|
(ii) Intangible Assets |
558.200 |
590.500 |
621.800 |
|
(iii) Capital
work-in-progress |
6614.900 |
11316.900 |
21898.400 |
|
(iv) Intangible assets
under development |
0.000 |
10133.800 |
2571.300 |
|
(b) Non-current
Investments |
17862.600 |
12072.900 |
18375.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
43261.400 |
20673.800 |
17707.800 |
|
(e) Trade receivables |
4406.100 |
815.800 |
917.800 |
|
(f) Other Non-current
assets |
3701.500 |
3546.600 |
1885.200 |
|
Total Non-Current Assets |
161218.900 |
136244.000 |
121406.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
1200.100 |
0.000 |
|
(b) Inventories |
1430.300 |
872.900 |
625.200 |
|
(c) Trade receivables |
8294.200 |
7211.700 |
2427.300 |
|
(d) Cash and cash
equivalents |
3998.300 |
5935.900 |
5359.900 |
|
(e) Short-term loans and
advances |
28406.000 |
16453.500 |
1568.900 |
|
(f) Other current assets |
5696.100 |
14634.800 |
377.600 |
|
Total Current Assets |
47824.900 |
46308.900 |
10358.900 |
|
|
|
|
|
|
TOTAL |
209043.800 |
182552.900 |
131765.600 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
43457.800 |
33610.500 |
24819.000 |
|
|
Other Income |
6797.500 |
2032.400 |
402.500 |
|
|
TOTAL (A) |
50255.300 |
35642.900 |
25221.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Operating Expenses |
12715.000 |
6440.000 |
5368.100 |
|
|
Employees benefits
expense |
1170.000 |
1043.800 |
894.200 |
|
|
Other expenses |
2172.100 |
1424.400 |
1440.800 |
|
|
TOTAL (B) |
16057.100 |
8908.200 |
7703.100 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
34198.200 |
26734.700 |
17518.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
7538.600 |
4419.000 |
2087.500 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26659.600 |
22315.700 |
15430.900 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4557.100 |
3423.800 |
2735.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
22102.500 |
18891.900 |
12695.900 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1940.800 |
1350.100 |
923.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
20161.700 |
17541.800 |
11772.600 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
35456.700 |
22705.400 |
14909.800 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim Dividend on
Equity Shares |
0.000 |
0.000 |
601.000 |
|
|
Tax on Interim Dividend
(including surcharge) |
0.000 |
0.000 |
97.500 |
|
|
Proposed Final Dividend
on Equity Shares |
2136.700 |
2003.400 |
1402.400 |
|
|
Tax on Final Dividend
(including surcharge) |
363.100 |
340.500 |
227.500 |
|
|
Transfer to Capital
Redemption Reserve |
1.400 |
1.400 |
1.400 |
|
|
Transfer to General
Reserve |
2016.200 |
1754.200 |
1177.300 |
|
|
Transfer to Debenture
Redemption Reserve |
691.000 |
691.000 |
469.900 |
|
|
BALANCE CARRIED TO THE
B/S |
50410.000 |
35456.700 |
22705.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Storage Rental |
10.500 |
49.300 |
0.000 |
|
|
TOTAL EARNINGS |
10.500 |
49.300 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Store and Spares |
293.000 |
157.900 |
339.100 |
|
|
Fuel |
1288.800 |
893.800 |
2198.100 |
|
|
Capital Goods |
221.700 |
7395.000 |
5090.200 |
|
|
TOTAL IMPORTS |
1803.500 |
8446.700 |
7627.400 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(Rs.) |
9.80 |
8.76 |
5.88 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
30.09.2014 |
31.12.2014 |
|
Unaudited |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net
Sales |
8787.300 |
11102.700 |
9537.300 |
|
Total
Expenditure |
2759.600 |
3867.600 |
3289.200 |
|
PBIDT
(Excl OI) |
6027.700 |
7235.100 |
6248.100 |
|
Other
Income |
2030.700 |
1690.600 |
2462.900 |
|
Operating
Profit |
8058.400 |
8925.700 |
8711.000 |
|
Interest |
1488.900 |
2092.900 |
2091.700 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
6569.500 |
6832.800 |
6619.300 |
|
Depreciation |
1196.500 |
1229.900 |
1258.800 |
|
Profit
Before Tax |
5373.000 |
5602.900 |
5360.500 |
|
Tax |
322.000 |
309.200 |
(581.500) |
|
Provisions
and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit
After Tax |
5051.000 |
5293.700 |
5942.000 |
|
Extraordinary
Items |
0.000 |
0.000 |
0.000 |
|
Prior
Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other
Adjustments |
0.000 |
0.000 |
0.000 |
|
Net
Profit |
5051.000 |
5293.700 |
5942.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
46.39 |
52.19 |
47.43 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
78.69 |
79.54 |
70.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.27 |
12.75 |
14.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.28 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.89 |
1.16 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.56 |
1.56 |
0.37 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
4034.900 |
4034.900 |
4168.200 |
|
Reserves & Surplus |
48179.500 |
63004.800 |
89190.700 |
|
Net worth |
52214.400 |
67039.700 |
93358.900 |
|
|
|
|
|
|
Long-term borrowings |
41328.100 |
74046.100 |
78612.200 |
|
Short term borrowings |
10048.900 |
3947.000 |
4055.500 |
|
Total borrowings |
51377.000 |
77993.100 |
82667.700 |
|
Debt/Equity ratio |
0.984 |
1.163 |
0.885 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
24819.000 |
33610.500 |
43457.800 |
|
|
|
35.422 |
29.298 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
24819.000 |
33610.500 |
43457.800 |
|
Profit |
11772.600 |
17541.800 |
20161.700 |
|
|
47.43% |
52.19% |
46.39% |
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONAL HIGHLIGHTS:
The company has created a milestone in Indian commercial ports history by handling more than 100 mtpa of cargo. This achievement is indeed a fulfilling one. This is notwithstanding the general economic climate and slowdown experienced by various industrial sectors. The year has witnessed robust growth and impressive performance of The company.
Mundra Port continues to rank 1st in terms of cargo handling and 2 in terms of container cargo during the year. Dahej and Hazira, other operational ports developed by The company continue to demonstrate strong growth with promising future.
AWARDS,
CERTIFICATIONS AND ACCREDITATIONS:
During the year, The Company had won the following awards:
- Health, Safety and Environment Award at Gujarat Junction 2014.
- Non Major Port of the Year at Maritime and Logistics Awards 2013 (MALA 2013).
- IT Excellence CIO Award for implementation of ACTOS (Terminal Operating System) at CT2 Live Terminal within 22 days without disturbing the operation.
- Won a total of 27 awards at the 24 State Level Annual Convention on Quality Circle held in Vadodara
(Vadodara Chapter Convention on Quality Circle 2013).
- Successfully completed external surveillance audit#1 (by IRQS) for ISO 28000:2007 in April, 2013.
- Successfully completed external surveillance audit#2 (by IRQS) for ISO 9001, ISO 14001 & OHSAS 18001 in October, 2013.
MANAGEMENT DISCUSSION
AND ANALYSIS
ECONOMIC OUTLOOK:
The global economy continues to face the aftermath of a challenging financial crisis with a subdued economic growth of 2.1% in 2013 though there was some turnaround in 2013-14 and recorded a marginal improvement in growth. The euro area appears to have come out of a protracted recession, with gross domestic product (GDP) for the region as a whole starting to grow again; the economy of the United States of America continues to recover with its supportive monetary condition and fiscal consolidation; and a few large emerging economies, including China, seem to have stopped a further slowdown. IMF estimates that the global economy is poised to grow at 3.6% and 3.9% in 2014-15 and 2015-16 respectively. Indian economy passed through a difficult phase in 2013-14 with slowing growth amidst high inflation. In addition, high fiscal deficit and tighter monetary stance have put additional pressure on investment growth. After witnessing a decline in GDP growth in two consecutive years, a modest recovery in Indian economy was seen in FY 2013-14. As per the advanced estimate of Asian Development Bank, Indian GDP is expected to grow at 5.5% in FY 2014-15. Improved agricultural output driven by good monsoon, pre-election higher spending the government on the welfare projects and softening of interest rates are expected to accelerate growth in the Indian economy.
Multilateral development institutions estimate that the growth in GDP is expected to recover to around 6.0 to 6.4% by 2015-16 on the assumption that over the next one year the recovery in advance economies will start driving demand and the Government will take stringent actions to overcome the critical issues that have hampered growth in India.
Investment demand in India is likely to pick in FY 2014-15. Fast clearances and tracking of the project will boost the construction sector, thereby creating more employment opportunities as well as creating demand and growth in cement, steel and machinery sector.
Inflation is likely to be lower and remain in control which will drive the growth of manufacturing activity. The mining sector, industrial sector is expected to return to growth. Due to El Nino effect, monsoon is going to be weak in FY 2014-15, which will impact the growth of agricultural sector.
To summarize, the global economy is on path to modest and gradual recovery in 2014. Indian economy is expected to be accelerating on its fast track growth as the new government will take its seat at the Centre.
PERFORMANCE OVERVIEW:
During the year the performance of The Company is encouraging. The company has been leading across all the fronts and Mundra Port has now become the largest commercial port in India. Indeed, Mundra Port has becomes the first ever commercial port in India to cross 100+ MMT cargo handling. The company maintained excellent growth record and registered a 23% growth in cargo volumes in FY 2013- 14 as compared to FY 2012-13. The company would continue to lead innovative practices, adoption of technology and setting examples of efficient port operations.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans |
|
|
|
Foreign currency
loans: |
|
|
|
From banks |
205.300 |
285.600 |
|
Rupee loans: |
|
|
|
From banks |
0.000 |
1250.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Commercial Paper |
2250.000 |
2500.000 |
|
Total |
2455.300 |
4035.600 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10546858 |
14/11/2014 |
5,100,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
C41917378 |
|
2 |
10522599 |
30/09/2014 |
30,000,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER TOWER 'E',
CUFFEE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C23154479 |
|
3 |
10523968 |
19/09/2014 |
1,500,000,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT,
PUNE, MAHARASHTRA - 411001, INDIA |
C25615535 |
|
4 |
10519865 |
16/08/2014 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
C17540618 |
|
5 |
10553583 |
16/08/2014 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
C41875717 |
|
6 |
10519866 |
16/08/2014 |
10,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
C17542382 |
|
7 |
10471149 |
15/01/2014 |
3,097,900,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B93871507 |
|
8 |
10436449 |
15/07/2013 * |
2,402,980,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B79463022 |
|
9 |
10431969 |
18/06/2013 |
5,000,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH,104 JYOTI COMMERCIAL COMPLEX, NEAR SHYAMAL CROSS ROADS, AHMEDABAD, GUJARAT
- 380015, INDIA |
B77468684 |
|
10 |
10434800 |
14/05/2013 |
4,940,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B75944827 |
|
11 |
10431478 |
14/05/2013 |
4,950,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B75943985 |
|
12 |
10430924 |
14/05/2013 |
900,000,000.00 |
THE RATNAKAR BANK LIMITED |
MAHAVEER, SHRI SHAHU
MARKET YARD SHAHUPURI, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B77025567 |
|
13 |
10423138 |
22/04/2013 |
2,500,000,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT,
PUNE, MAHARASHTRA - 411001, INDIA |
B74206376 |
|
14 |
10417099 |
05/04/2013 |
1,401,590,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B72370810 |
|
15 |
10398884 |
13/12/2012 |
7,750,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B64411846 |
|
16 |
10389985 |
02/11/2013 * |
1,200,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B88531322 |
|
17 |
10383942 |
17/10/2012 |
42,255,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER TOWER, 'E',
CUFFE PARADE,, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B61094199 |
|
18 |
10352718 |
05/05/2012 |
2,107,252,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B38599262 |
|
19 |
10353056 |
05/05/2012 |
2,107,252,000.00 |
DEG - DEUTSCHE
INVESTITIONS- UND ENTWICKLUNGSGESELLSCHAFT MBH |
KAMMERGASSE 22, 50676 COLOGNE,
FEDERAL REPUBLIC OF GERMANY, - 50676, GERMANY |
B38728416 |
|
20 |
10351416 |
13/08/2012 * |
17,985,500,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B56121031 |
|
21 |
10351414 |
27/04/2012 |
9,199,225,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B38085742 |
|
22 |
10347017 |
12/04/2012 |
2,577,350,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B36781409 |
|
23 |
10339818 |
07/03/2012 |
1,957,632,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B33970492 |
|
24 |
10342211 |
29/02/2012 |
5,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B35033216 |
|
25 |
10347229 |
28/02/2012 |
7,341,120,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B36837128 |
|
26 |
10315637 |
05/11/2012 * |
1,975,200,000.00 |
STATE BANK OF INDIA |
15TH FLOOR, CENTRAL
TOWER, 28 QUEEN'S ROAD, CENTRAL HONG KONG, - 10125, HONG KONG |
B62560370 |
|
27 |
10313864 |
05/10/2011 |
2,459,590,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B23799364 |
|
28 |
10310780 |
27/09/2011 |
1,457,852,268.28 |
HSH NORDBANK AG |
KIEL AND HAMBURG, KIEL
AND HAMBURG, - 20095, GERM |
B22794432 |
|
29 |
10304351 |
05/09/2011 |
2,871,859,965.00 |
DZ BANK AG DEUTSCHE
ZENTRAL-GENOSSENSCHAFTBANK |
PLATZ DER REPUBLIK,
FRANKFURT AM MAIN,, FRANKFURT, - 60265, GERMANY |
B19682772 |
|
30 |
10307034 |
25/08/2011 |
1,500,000,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD,
CONTONMENT, PUNE, MAHARA |
B20903845 |
|
31 |
10277644 |
08/03/2011 |
4,503,130,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BUILDING, GROUND FLOOR,
17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B09360355 |
|
32 |
10269303 |
05/02/2011 |
1,500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B05991047 |
|
33 |
10261249 |
24/12/2010 |
5,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE FINANCE BRANCH,
58, SHRIMALI SOCIETY, NAVRANGPURA, AHMEDABAD, GUJARAT - 380009, INDIA |
B03554896 |
|
34 |
10252109 |
20/11/2010 |
1,500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. |
A99955676 |
|
35 |
10219313 |
05/12/2012 * |
1,500,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR
TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B64464258 |
|
36 |
10194650 |
19/03/2010 * |
1,616,375,520.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A81838609 |
|
37 |
10166686 |
15/07/2009 |
1,302,863,629.50 |
DZ BANK AG DEUTSCHE
ZENTRAL-GENOSSENSCHAFTBANK |
PLATZ DER REPUBLIK,,
FRANKFURT AM MAIN,, FRANKFURT, - 60265, GERMANY |
A65703159 |
|
38 |
10162595 |
27/03/2014 * |
2,250,000,000.00 |
ING VYSYA BANK LIMITED |
P.B.NO.4038,CHANAKYA
BUILDING,, NEAR DINESH HALL, OFF ASHRAM ROAD, AHMEDABAD, GUJARAT -
380009, INDIA |
C02889012 |
|
39 |
10126023 |
10/09/2008 |
792,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLE, LAW G |
A48670467 |
|
40 |
10101657 |
23/09/2011 * |
792,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP
SAMARTHESHWAR TEMPLE, LAW G |
B23477367 |
|
41 |
10086392 |
24/05/2008 * |
1,480,000,000.00 |
STATE BANK OF INDIA |
CORPORATE FINANCE BRANCH,
NAVRANGPURA, AHMEDABAD, |
A39074943 |
|
42 |
80002205 |
05/04/2013 * |
19,285,924,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B72370455 |
* Date of charge modification
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED DECEMBER 31, 2014
(Rs. in million)
|
Particulars |
Quarter Ended |
Nine Month ended |
||
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
1 |
Income from Operations |
|
|
|
|
|
(a) Net sates/income from operations (Net of excise duty) |
9228.200 |
8495.000 |
26263.300 |
|
|
(b) Other Operating Income |
309.100 |
2607.700 |
3164.000 |
|
|
Total income from operations (net) |
9537.300 |
11102.700 |
29427.300 |
|
2 |
Expenses |
|
|
|
|
|
(a) Operating expense |
2118.500 |
2560.600 |
6658.000 |
|
|
(d) Employee benefits expense |
493.300 |
401.500 |
1185.300 |
|
|
(c) Depreciation and Amortization Expenses |
1258.800 |
1229.900 |
3685.200 |
|
|
(d) Foreign Exchange (Gain) /Loss (Net) |
235.000 |
224.100 |
552.500 |
|
|
(e) Other Expenses |
442.400 |
499.500 |
1338.700 |
|
|
Total expenses |
4548.000 |
4915.600 |
13419.700 |
|
3 |
Profit/ (Loss) from operations before
other Income, finance costs and exceptional Items (1-2) |
4989.300 |
6187.100 |
16007.500 |
|
4 |
Other Income |
2249.600 |
1690.600 |
5580.800 |
|
5 |
Profit/ (Loss) from operations before
other income, finance costs and exceptional items (3+4) |
7238.900 |
7877.700 |
21588.400 |
|
6 |
Finance Costs |
2091.700 |
2092.900 |
5673.500 |
|
|
Derivative (Gain) /Loss |
(213.300) |
181.900 |
(421.500) |
|
7 |
Profit before Tax (5-6) |
5360.500 |
5602.900 |
16336.400 |
|
8 |
Tax expenses |
(581.500) |
309.200 |
49.700 |
|
9 |
Profit after tax (7-8) |
5942.000 |
5293.700 |
16286.700 |
|
10 |
Paid up equity share capital (Face Value of Rs. 2/- each) |
4140.100 |
4140.100 |
4140.100 |
|
11 |
Reserve excluding Revaluation Reserve as per Balance Sheet of previous accounting year |
-- |
-- |
-- |
|
12 |
Debenture Redemption Reserve |
-- |
-- |
-- |
|
13 |
Earnings per share – Basic and Diluted (in Rs.) (not annualised): |
2.87 |
2.56 |
78.700 |
|
14 |
Debt Equity Ratio |
-- |
-- |
-- |
|
15 |
Debt Service Coverage ratio |
-- |
-- |
-- |
|
16 |
Interest Service Coverage Ratio |
-- |
-- |
-- |
|
|
|
|
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- Number of shares |
517512905 |
517512905 |
517512905 |
|
|
- Percentage of shareholding |
25.00% |
25.00% |
25.00% |
|
2 |
Promoters and Promoter group shareholding |
|
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
|
- Number of shares |
121292400 |
121292400 |
121292400 |
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
7.81% |
7.81% |
7.81% |
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
5.89% |
5.89% |
5.86% |
|
|
b) Non Encumbered |
|
|
|
|
|
- Number of shares |
1431246315 |
1431246315 |
1431246315 |
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
92.19% |
92.19% |
91.19% |
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
69.14% |
69.14% |
69.14% |
|
B |
INVESTOR COMPLAINTS |
|
|
|
Pending as at 01.07.2014 |
0 |
|
|
Received during the quarter |
15 |
|
|
Resolve during the quarter |
15 |
|
|
Pending as at 30.09.2014 |
0 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Corporate Guarantees given to banks and financial institutions against credit facilities availed by the subsidiaries – Amount outstanding there against Rs.7270.900 Million (previous year Rs.1951.900 Million) |
7877.700 |
5780.400 |
|
Corporate Guarantee given to Bank for credit facility availed by erstwhile subsidiary company, Mundra Port Pty Limited, Australia. (Amount outstanding there against Rs.47932.000 Million (previous year Rs.43428.000 Million) |
Note |
43428.000 |
|
Bank Guarantees and Letter of Credit outstanding against credit facilities availed by the subsidiaries |
5389.900 |
6453.500 |
|
Bank Guarantees given to government authorities and bank (also includes DSRA bank guarantees given to Bank on behalf of subsidiaries and erstwhile subsidiaries. |
1216.800 |
770.200 |
|
Civil suits filed by the Customers for recovery of damages caused to machinery in earthquake Rs.3.700 Million (previous year Rs.3.700 Million), to cargo stored in Company's godown Rs.9.400 Million (previous year Rs.9.400 Million), loss due to mis-handling of wheat cargo Rs.62.000 Million (previous year Rs.62.000 Million) and loss due to non-performance of dredging contract Rs.229.800 Million (previous year Rs.229.800 Million). The said civil suits are currently pending with various Civil Courts in Gujarat. The management is reasonably confident that no liability will devolve on the Company in this regard and hence no provision is made in the books of accounts towards these suits. |
304.900 |
304.900 |
|
The Company received show cause notices from the Custom Authorities for import of various Cargos at Port Rs.4.600 Million (previous year Rs.4.600 Million). The Customs cases are currently pending with, Assistant Commissioner of Customs, Mundra (Rs.1.400 Million), Customs, Excise and Service Tax Appellate Tribunal, Mumbai (Rs.2.700 Million) and Addl. Director General, DRI (Rs.0.500 Million) respectively. The Company has given deposit of Rs.0.500 Million (previous year Rs.0.500 Million) against the demand. The management is reasonably confident that no liability will devolve on the Company and hence no liability has been recognised in the books of accounts. |
4.600 |
4.600 |
|
Deputy Commissioner of Customs, Mundra and Assistant Commissioner of Customs, Mumbai have held that the Company wrongly availed duty benefit exemption under DFCEC Scheme on import of equipment and demanded duty payment of Rs.2.500 Million (previous year Rs.2.500 Million). The Company has filed its reply to the show cause notice with Deputy Commissioner of Customs, Mundra and Commissioner of Customs, Mumbai against order in original. The management is of view that no liability shall arise on the Company. |
2.500 |
2.500 |
|
Various show cause notices received from Commissioner/ Additional Commissioner/ Joint Commissioner/ Deputy Commissioner of Customs and Central Excise, Rajkot and Commissioner of Service Tax, Ahmedabad, for wrongly availing of Cenvat credit/ Service tax credit and Education Cess credit on input services and steel, cement and other misc. fixed assets during financial year 2006-07 to 2013-14. The Excise department has demanded recovery of the duty along with penalty and interest thereon. The Company has given deposit of Rs.45.000 Million (previous year: Rs.45.000 Million) against the demand. The matters are pending before High Court of Gujarat, Commissioner of Central Excise (Appeals), Rajkot and Commissioner of Service Tax, Ahmedabad. The Company has taken an external opinion in the matter based on which the management is of the view that no liability shall arise on the Company. |
732.000 |
691.900 |
|
Show cause notices received from Commissioner of Customs and Central Excise, Rajkot in respect of levy of service tax on various services provided by the Company and wrong availment of CENVAT credit by the Company during financial year 2009-10 to 2011-12. The matter is currently pending at High Court of Gujarat Rs.67.200 Million (previous year Rs.67.200 Million); and Customs, Excise and Service Tax Appellate Tribunal, Ahmedabad Rs.1.500 Million (previous year Rs.1.500 Million) and Commissioner of Service Tax Ahmedabad Rs.0.200 Million (previous year Rs.0.200 Million). The Company has taken an external opinion in the matter based on which the management is of the view that no liability shall arise on the Company |
69.000 |
69.000 |
|
Commissioner of Customs, Ahmedabad has demanded vide letter no.4/Comm./SIIB/2009 dated 25/11/2009 for recovery of penalty in connection with import of Air Craft which is owned by Karnavati Aviation Private Limited (Formerly Gujarat Adani Aviation Private Limited.), subsidiary of the Company. Company has filed an appeal before the Customs, Excise and Service Tax Appellate Tribunal against the demand order, the management is reasonably confident that no liability will devolve on the Company and hence no liability has been recognized in the books of account. |
20.000 |
2.000 |
|
Company has imported Tamping Machine and Spare parts system - Plasser Theurer duty free under the EPCG Scheme for which an export obligation of Rs.177.300 Million that is equivalent to 6 times of duty saved of Rs.29.500 Million. The export obligation has to be completed by F.Y. 2019-20. |
29.500 |
-- |
|
During the year the Company has received order from Addl. Commissioner of Income Tax and Dy. Commissioner of Income tax for recovery of income tax of Rs.332.700 Million and interest of Rs.187.400 Million for assessment years 2009-10, 2010-11 and 2011-12.The management is reasonably confident that no liability will be devolve on the Company. |
520.100 |
-- |
Note:
During the previous year, the Company had initiated and recorded the
divestment of its entire equity holding in Adani Abbot Point Terminal Holdings Pty
Limited (AAPTHPL) and entire Redeemable Preference Shares holding in Mundra
Port Pty Limited (MPPL) representing Australia Abbot Point operations to Abbot
Point Port Holdings Pte Limited, Singapore. The Company entered Share Purchase
Agreement ('SPA') on March 30, 2013 to sell its holding in AAPTHPL and MPPL. In
terms of the SPA the conditionality as regards regulatory and lenders approvals
were obtained except in respect of approval from one of the lenders who have
given specific line of credit to MPPL. The Company has also extended a
corporate guarantee of USD 800 million against this line of credit to MPPL,
which is outstanding as at the year end and the Company has pledged its entire
equity holding of 1,000 equity shares of AUD 1 each at the reporting date in
favour of lender.
During the year the Company has received corporate guarantee (’Deed of
Indemnity’) against this outstanding corporate guarantee from Abbot Point Port
Holding Pte Limited, Singapore.
FIXED ASSETS
Tangible Assets
· Land
· Freehold Land
· Land Development cost on Leasehold Land
·
Buildings, Roads and Civil Infrastructure
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Computer Hardware
· Vehicles
· Tugs and Boats
· Railway Tracks
· Marine Structures
· Dredged Channels
· Project Assets
Intangible Assets
· Goodwill
· Software
·
Rights of use in Leased Land
WEBSITE DETAILS:
PRESS RELEASES:
ADANI PORTS
COMMISSIONS TUNA TEKRA BULK TERMINAL AT KANDLA IN A RECORD TIME OF 24 MONTHS
Tuna Tekra terminal has a capacity of 20 million tonnes/year
Editor’s Synopsis
· Adani Ports commissions dry bulk terminal at Tuna Tekra, Kandla Port
· Adani Ports’ Tuna Tekra dry bulk terminal has 20 mmtpa capacity
· Adani Ports now operates in four locations in Gujarat
· Adani Ports now operates seven port facilities across India
· Adani Ports is India’s largest private sector port infrastructure operator
Ahmedabad, February 10, 2015: Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, a global integrated player, today said it had commissioned a bulk terminal at Tuna Tekra, Kanda Port, with an annual handling capacity of over 20 million tonnes, further consolidating its leadership one position on the west coast of India.
Mr Nitin Gadkari, the Honourable Minister for Shipping, Road Transport and Highways inaugurated the terminal after the berthing of the project’s first vessel MV Sheng Ming earlier in the day.
“The Tuna Tekra terminal is yet another feather in the Adani cap. We expect the terminal to be a game-changer for Export Import trade of the Northwest hinterland of India, thanks to its strategic location. Add to it Adani Group’s infrastructural prowess, speed of execution and operational efficiencies,” said Mr Karan Adani, Executive Director, APSEZ.
“It is a proud moment for us at Adani as we commission the Tuna Tekra dry bulk terminal. The port facility is our fourth in Gujarat and fifth on the entire western coast. Its commissioning marks the further consolidation of our leadership in the port infrastructure sector in India. This new facility will play a crucial role in the Make In India campaign. We are now aiming to complete the container terminal project in Chennai in a record time frame,” said Mr. Sudipta Bhattacharya, CEO, APSEZ.
The consortium led by APSEZ, formed a SPV named Adani Kandla Bulk Terminal Private Limited (AKBTPL) after winning the contract in June 2012 to set up the bulk terminal. The terminal was completed within the stipulated time frame. The dry bulk cargo handling terminal facilities includes a T shaped jetty with four bulk berths, a vessel handling capacity of 1,00,000 DWT with (-) 16.2 m CD dredged depth and a capacity of 20 MMTPA.
The project is expected to benefit the states of Gujarat, Rajasthan, Haryana, Punjab and Madhya Pradesh amongst others. It is connected to the National Highway grid through NH-8A coming from Ahmedabad via Wankaner, Morbi and terminates at the Kandla Port.
APSEZ also operates ports in Mundra, Hazira and Dahej, in
Gujarat, Dhamra in Odisha and operates specialized coal handling facilities in
Mormugao in Goa, Visakhapatinam in Andhra Pradesh. It is currently setting up a
container terminal in Ennore, Chennai.
VIBRANT GUJARAT SUMMIT: ADANI ENTERPRISES, SUNEDISON TO INVEST RS
25,0000.000 MILLION IN GUJARAT
JANUARY 12, 2015
MUMBAI: Adani Enterprises, India's biggest private power producer and port owner, is taking giant strides in the energy sector - planning to make solar panels that can generate competitively priced electricity and investing in LNG sourcing and oil and gas exploration.
It's agreed to set up a joint venture with SunEdison that will invest.Rs 250000.000 Million, or $4 billion, to make India's biggest solar photovoltaic manufacturing facility and signed an accord with Australia's Woodside Energy in the oil and gas business. The solar plant, to be constructed in Mundra, Gujarat, over a three-year period, will make low-cost panels capable of producing electricity that costs as much as power generated by using traditional fuels.
"The facility will manufacture solar panels to fuel solar power growth in India, furthering India's goals for clean, renewable energy independence, and will add up to 20,000 jobs to the local economy," Adani and New Yorklisted SunEdison said in a joint statement on Sunday. The venture will boost domestic solar equipment supply to meet the huge requirement of the sector in which Coal, Power and Renewable Energy Minister Piyush Goyal is aiming for unprecedented growth.
The solar energy sector has so far imported huge amounts of low-cost Chinese equipment, drawing criticism from local suppliers. Under the memorandum of understanding signed by Adani Group chairman Gautam Adani and Woodside CEO Peter Coleman, the companies will explore opportunities in sourcing of liquefied natural gas, supply and purchase arrangements for India and LNG marketing.
They will also consider investment in activities such as oil and gas exploration, production and liquefaction plants, Adani Enterprises said in a statement. "This cooperation arrangement is a landmark and first of its kind between two large organisations of India and Australia sharing common aspirations and vision. This MoU will go a long way in bringing new perspective to addressing the energy issues, enhancing energy trade and further strengthen warm relationships shared by the two countries," the statement quoted Adani as saying. Ahmad Chatila, President and Chief Executive Officer of SunEdison, said the solar plant will supply equipment at competitive rates.
"This facility will create ultra-low cost solar panels that will enable us to produce electricity so cost effectively it can compete head to head, unsubsidised and without incentives, with fossil fuels," he said. "By pairing SunEdison's solar technology expertise with Adani's extensive experience in the creation of infrastructure, we will be able to transform the region into a solar production powerhouse, creating 4,500 direct jobs and over 15,000 indirect jobs."
Adani Power said the development of the largest integrated solar manufacturing facility furthers the vision of Modi's 'Make in India' campaign. "We are happy to partner with SunEdison, a leading solar technology manufacturer, to build this facility which further integrates our power - renewable business value chain and has significant socio-economic benefits," said Vneet S Jaain, chief executive officer of Adani Power.
During the first half of 2015, SunEdison and Adani will conduct a comprehensive analysis of the opportunity and business plan before starting construction of the facility, the statement added. On Saturday, debt-laden wind turbine maker Suzlon Energy announced plans to invest.Rs 240000.000 Million over the next five years in wind energy projects in Gujarat. Welspun Renewables said that it will spend .Rs 83000.000 Million in the state and has signed two MoUs for 500 MW wind and 600 MW solar capacities with Gujarat Urja Vikas Nigam.
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.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80
|
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
-- PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
65 |
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.