|
|
|
MIRA INFORM REPORT
|
Report No. : |
494780 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
THE TATA POWER COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Bombay House 24, Homi Mody Street, Fort, Mumbai – 400001,
Maharashtra |
|
Tel. No.: |
91-22-66658282 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
18.09.1919 |
|
|
|
|
Com. Reg. No.: |
11- 000567 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 2705.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28920MH1919PLC000567 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company has installed generation capacity of 2,954 MW in India and
a presence in all the segments of the power sector viz. Fuel and Logistics,
Generation (thermal, hydro, solar and wind), Transmission and Distribution. [Registered Activity] |
|
|
|
|
No. of Employees
: |
3,967 (Approximately) |
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a Tata Group Company, it is involved in the business of
generation, distribution and transmission of power. It has a license for bulk
supply of electricity in the city of Mumbai. It is a well-established company
having excellent track records. For the financial year 2017, the company has registered decrease in
its operational performance as compared to previous year and maintained
average profit margin of 3.93 %. The ratings draw comfort from the strong financial profile marked by
healthy networth base along with fair liquidity position. Rating also takes into consideration being part of the Tata group in
order to manage and grow its business operations, strong market position,
experienced management and robust earnings performance. Trade relations are fair. Payment terms are reported to be regular and
as per commitments. In view of strong financial profile, the company can be considered
good for normal business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
10.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Commercial Paper: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
10.11.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 27.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE (91-22-66658282)
LOCATIONS
|
Registered Office : |
Bombay House 24, Homi Mody Street, Fort, Mumbai – 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-66658282 |
|
Fax No.: |
91-22-66658801 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office: |
Centre for Technology Excellence (CENTEC) 4th Floor, Technopolis
Knowledge Park, Mahakali Caves Road, Andheri East, Mumbai -400093, Maharashtra,
India |
|
Tel No.: |
91-22-25801290 |
|
|
|
|
Corporate Centre: |
34, Sant Tukaram Road, Carnac Bunder, Mumbai - 400 009, Maharashtra, India |
|
Tel. No.: |
91-22- 67171000 |
|
|
|
|
Strategic
Engineering Division 1: |
42 Off Saki - Vihar Road, Andheri (East), Mumbai -400 072, Maharashtra, India |
|
Tel. No.: |
91-22-67513601 / 67513600 |
|
Fax No.: |
91-22-67513638 / 67513667 |
|
|
|
|
Strategic
Engineering Division 2: |
42 - 43 Electronics City, Phase-1, Hosur Road, Bangalore -560 100, Karnataka, India |
|
Tel. No.: |
91-80-67859900 / 67859910 |
|
Fax No.: |
91-80-67859901 / 67859902 |
|
|
|
|
Corporate
Communication: |
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Anil Kumar Sardana |
|
Designation : |
Managing Director |
|
Address : |
22 A/B, New Akash Ganga Co-Operative Housing Society Limited, 89,
Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India |
|
Date of Appointment : |
09.08.2007 |
|
DIN No.: |
00006867 |
|
|
|
|
Name : |
Ashok Sethi |
|
Designation : |
Wholetime Director |
|
Address : |
IV/7, Tata Colony, Mahul Road, Aziz Baug, Chembur, Mumbai -400074,
Maharashtra, India |
|
Date of Appointment : |
07.05.2014 |
|
DIN No.: |
01741911 |
|
|
|
|
Name : |
Deepak Madhav Satwalekar |
|
Designation : |
Director |
|
Address : |
Flat No. 401, 4th Floor, The Orchid, 12th Road Plot No. 252, Near
Madhu Park, Khar (West), Mumbai - 400052, Maharashtra, India |
|
Date of Appointment : |
12.02.2008 |
|
DIN No.: |
00009627 |
|
|
|
|
Name : |
Nawshir Hoshang Mirza |
|
Designation : |
Director |
|
Address : |
6A, Somerset Place 61-D, Bhulabhai Desai Road, Mumbai - 400026,
Maharashtra, India |
|
Date of Appointment : |
29.09.2006 |
|
DIN No.: |
00044816 |
|
|
|
|
Name : |
Chandrasekaran Natarajan |
|
Designation : |
Additional Director |
|
Address : |
201/202, Sagar Darshan 8, Worli Seaface Mumbai - 400030, Maharashtra,
India |
|
Date of Appointment : |
11.02.2017 |
|
DIN No.: |
00121863 |
|
|
|
|
Name : |
Anjali Bansal |
|
Designation : |
Additional Director |
|
Address : |
3202, A-Wing, Vivarea, Sane Guruji Marg Jacob Circle, Mahalaxmi,
Mumbai - 400011, Maharashtra, India |
|
Date of Appointment : |
14.10.2016 |
|
DIN No.: |
00207746 |
|
|
|
|
Name : |
Sanjay Vijay Bhandarkar |
|
Designation : |
Director |
|
Address : |
33, Moonreach Apartments, Prabhadevi, Prabha Nagar, Mumbai- 400025, Maharashtra, India |
|
Date of Appointment : |
14.10.2016 |
|
DIN No.: |
01260274 |
|
|
|
|
Name : |
Vibha Umesh Padalkar |
|
Designation : |
Director |
|
Address : |
6A and 7, Tarang, Plot No. 224 Tamil Sangham Marg, Sion (East), Mumbai
-400022, Maharashtra, India |
|
Date of Appointment : |
14.10.2016 |
|
DIN No.: |
01682810 |
|
|
|
|
Name : |
Banmali Agrawala |
|
Designation : |
Additional Director |
|
Address : |
C-602, Palm Springs Golf Course Road, Sector 54, Gurugram-
122001, Haryana, India |
|
Date of Appointment : |
17.11.2017 |
|
DIN No.: |
00120029 |
|
|
|
|
Name : |
Hemant Bhargava |
|
Designation : |
Additional Director |
|
Address : |
C1, Jeevan Jyot, Setalwad Lane , Nepean Sea Road, Mumbai -
400036, Maharashtra, India |
|
Date of Appointment : |
24.08.2017 |
|
DIN No.: |
01922717 |
|
|
|
|
Name : |
Saurabh Agrawal |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 2803, Imperial Towers, BB Nakashe Marg, Tardeo,
Mumbai - 400034, Maharashtra, India |
|
Date of Appointment : |
17.11.2017 |
|
DIN No.: |
02144558 |
|
|
|
|
Name : |
Kesava Menon Chandrasekhar |
|
Designation : |
Director |
|
Address : |
Sai Sannidhi Ushus Cooperative Housing Colony, Vattiyo Urkavu, Trivandrum - 695013, Kerala, India |
|
Date of Appointment : |
04.05.2017 |
|
DIN No.: |
06466854 |
KEY EXECUTIVES
|
Name : |
Ramesh Narayanswamy Subramanyam |
|
Designation : |
Chief Finance Officer |
|
Address : |
162 16th Floor Jupiter 41 Cuffe Parade Mumbai - 400005, Maharashtra,
India |
|
Date of Appointment : |
29.05.2014 |
|
PAN No.: |
AANPS8972J |
|
|
|
|
Name : |
Hanoz Minoo Mistry |
|
Designation : |
Company Secretary |
|
Address : |
36A, Engineer's Bungalow, Block No.1 Sun Mill Road, Lower Parel,
Mumbai - 400013, Maharashtra, India |
|
Date of Appointment : |
01.08.2011 |
|
PAN No.: |
AAAPM3395C |
SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
893200466 |
33.02 |
|
(B) Public |
1811573044 |
66.98 |
|
Grand Total |
2704773510 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Any Other (specify) |
893200466 |
33.02 |
|
Tata Sons Limited |
839799682 |
31.05 |
|
Tata Steel Limited |
39122725 |
1.45 |
|
Tata Investment Corporation Limited |
6847842 |
0.25 |
|
Tata Industries Limited |
4535200 |
0.17 |
|
Ewart Investments Limited |
2229657 |
0.08 |
|
Sir Dorabji Tata Trust |
572880 |
0.02 |
|
Sir Ratan Tata Trust |
70160 |
0.00 |
|
J R D Tata Trust |
13200 |
0.00 |
|
Tata Motors Finance Limited |
9120 |
0.00 |
|
Sub Total A1 |
893200466 |
33.02 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
893200466 |
33.02 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
|
0.00 |
|
Mutual Funds/ |
156921524 |
5.80 |
|
Icici Prudential Balanced Fund |
95791714 |
3.54 |
|
Foreign Portfolio Investors |
739293287 |
27.33 |
|
Matthews Pacific Tiger Fund |
164620436 |
6.09 |
|
First State Investments Icvc- Stewart
Investors Global Emerging Markets Leaders Fund |
103155341 |
3.81 |
|
Stewart Investors Global Emerging Markets Leaders
Fund |
35560687 |
1.31 |
|
Financial Institutions/ Banks |
14689143 |
0.54 |
|
Insurance Companies |
487708769 |
18.03 |
|
Life Insurance Corporation Of India |
326682255 |
12.08 |
|
The New India Assurance Company Limited |
66954953 |
2.48 |
|
General Insurance Corporation Of India |
66362960 |
2.45 |
|
Sub Total B1 |
1398612723 |
51.71 |
|
B2) Central Government/ State
Government(s)/ President of India |
|
0.00 |
|
Central Government/ State Government(s)/
President of India |
291420 |
0.01 |
|
Sub Total B2 |
291420 |
0.01 |
|
B3) Non-Institutions |
|
0.00 |
|
Individual share capital upto INR 0.200
Million |
355761443 |
13.15 |
|
Individual share capital in excess of INR
0.200 Million |
18295276 |
0.68 |
|
NBFCs registered with RBI |
61980 |
0.00 |
|
Overseas Depositories (holding DRs)
(balancing figure) |
3307260 |
0.12 |
|
Any Other (specify) |
35242942 |
1.30 |
|
Bodies Corporate |
16670133 |
0.62 |
|
Clearing Members |
8420637 |
0.31 |
|
Limited Liability Partnership |
412351 |
0.02 |
|
Trusts |
2958724 |
0.11 |
|
Director or Director's Relatives |
36862 |
0.00 |
|
IEPF Suspense A/c |
6258295 |
0.23 |
|
OCBs/Foreign Cos |
4400 |
0.00 |
|
Overseas corporate bodies |
199340 |
0.01 |
|
Foreign Nationals - DR |
282200 |
0.01 |
|
Sub Total B3 |
412668901 |
15.26 |
|
B=B1+B2+B3 |
1811573044 |
66.98 |
BUSINESS DETAILS
|
Line of Business : |
The Company has installed generation capacity of 2,954 MW in India and
a presence in all the segments of the power sector viz. Fuel and Logistics, Generation
(thermal, hydro, solar and wind), Transmission and Distribution. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
3,967 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Indiabulls Finance Center, Tower 3, 27th
– 32nd Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai
-400013, Maharashtra, India |
|
Tel. No.: |
91-22-61854000 |
|
Fax No.: |
91-22-61854101 |
|
|
|
|
Solicitors |
Mulla and Mulla and Craigie Blunt and Caroe Cyril Amarchand Mangaldas |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
1) Af-Taab Investment Co. Limited (AICL) 2) Chemical Terminal Trombay Limited (CTTL) 3) Tata Power Trading Co. Limited (TPTCL) 4) NELCO Limited (NELCO) 5) Maithon Power Limited (MPL) 6) Tata Power Delhi Distribution Limited (TPDDL) 7) Coastal Gujarat Power Limited (CGPL) 8) Industrial Power Utility Limited (IPUL) 9) Tata Power Renewable Energy Limited (TPREL) 10) Tata Power Solar Systems Limited (TPSSL) 11) Tata Power Jamshedpur Distribution Limited (TPJDL) 12) Tata Power International Pte. Limited (TPIPL) 13) Tata Ceramics Limited (TCL) (w.e.f. 28th May, 2015) 14) Bhira Investments Limited (BIL) 15) Bhivpuri Investments Limited (BHIL) 16) Khopoli Investments Limited (KIL) 17) Trust Energy Resources Pte. Limited (TERL) 18) Indo Rama Renewables Jath Limited ** (IRRJL) 19) Energy Eastern Pte. Limited ** (EEL) 20) Tatanet Services Limited** (TNSL) 21) PT Sumber Energi Andalan Tbk. ** (SEA) 22) Tata Power Green Energy Limited ** (TPGEL) 23) NDPL Infra Limited ** (NDPLIL) 24) Supa Windfarm Limited ** (SWL) (w.e.f. 10th December, 2015) 25) Poolavadi Windfarm Limited ** (PWL) (w.e.f. 9th January, 2016) 26) Nivade Windfarm Limited ** (NWL) (w.e.f. 17th December, 2015) 27) Welspun Renewables Energy Private Limited ** (WREPL) 28) Clean Sustainable Solar Energy Private Limited ** (CSSEPL) 29) Dreisatz Mysolar24 Private Limited ** (DMPL) 30) MI Mysolar24 Private Limited ** (MMPL) 31) Northwest Energy Private Limited ** (NEPL) 32) Solarsys Energy Private Limited ** (SEPL) 33) Solarsys Renewable Energy Private Limited ** (SREPL) 34) Unity Power Private Limited ** (UUPL) 35) Viraj Renewables Energy Private Limited ** (VREPL) 36) Welspun Energy Jharkhand Private Limited ** (WEJPL) 37) Welspun Energy Maharashtra Private Limited ** (WEMPL) 38) Welspun Energy Rajasthan Private Limited ** (WERPL) 39) Welspun Solar AP Private Limited ** (WSAPL) 40) Welspun Solar Kannada Private Limited ** (WSKPL) 41) Welspun Solar Madhya Pradesh Private Limited ** (WSMPPL) 42) Welspun Solar Punjab Private Limited ** (WSPPL) 43) Welspun Solar Rajasthan Private Limited ** (WSRPL) 44) Welspun Solar Tech Private Limited ** (WSTPL) 45) Welspun Solar UP Private Limited ** (WSUPL) 46) Welspun Urja Gujarat Private Limited ** (WUGPL) 47) Chirasthayee Saurya Limited ** (CSL) 48) Nelco Network Products Limited ** (NNPL) 49) Vagarai Windfarm Limited ** (VWL) 50) Welspun Urja India Limited ** (WUIL) ** Through Subsidiary Companies |
|
|
|
|
Employment Benefit
Funds: |
1) Tata Power Superannuation Fund 2) Tata Power Gratuity Fund 3) Tata Power Consolidated Provident Fund |
|
|
|
|
Associates: |
1) Tata Projects Limited (TPL) 2) Yashmun Engineers Limited (YEL) 3) Dagacchu Hydro Power Corporation Limited 4) Tata Communications Limited |
|
|
|
|
Joint Venture
Companies: |
1) Cennergi Pty. Limited ** (CPL) 2) Mandakini Coal Company Limited (MCCL) 3) Tubed Coal Mines Limited (TCML) 4) Itezhi Tezhi Power Corporation (ITPC) (w.e.f. 29th April, 2015) 5) Adjaristsqali Georgia LLC ** (AGL) 6) LTH Milcom Private Limited 7) Powerlinks Transmission Limited (PTL) 8) Industrial Energy Limited (IEL) 9) Dugar Hydro Power Limited (DHPL) ** Joint Ventures of Subsidiaries |
|
|
|
|
Promoters holding together with its
Subsidiary more than 20%: |
Tata Sons Limited |
|
|
|
|
Subsidiaries and Jointly Controlled
Entities of Promoters (where transactions have taken place during the year
and previous year / balances outstanding) : |
1) Drive India Enterprise Solutions Limited (ceased w.e.f. 01.09.2015) 2) e-Nxt Financials Limited (merged with Tata Business Support Services Limited, the Appointed date i.e. 01.04.2014, Effective date: 01.07.2015) 3) Ewart Investments Limited 4) Infiniti Retail Limited 5) Tata Africa Holdings (SA) (Proprietary) Limited 6) Tata AG, Zug 7) Tata AIG General Insurance Company Limited 8) Tata Business Support Services Limited 9) Tata Capital Limited 10) Tata Consultancy Services Limited 11) Tata Consulting Engineers Limited 12) Tata Housing Development Company Limited 13) Tata Industries Limited 14) Tata Interactive Systems AG 15) Tata Investment Corporation Limited 16) Tata Realty and Infrastructure Limited 17) Tata Teleservices (Maharashtra) Limited (w.e.f. 02.02.2017) 18) Tata Teleservices Limited (ceased to be an associate and is a subsidiary w.e.f. 02.02.2017) 19) TC Travel and Services Limited 20) THDC Management Services Limited (formerly THDC Facility Management Limited) |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
INR 1/- each |
INR 3000.000 Million |
|
22900000 |
Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 2290.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 5290.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2761700970 |
Equity
Shares [including 28,32,060 shares (31st March, 2016 - 29,76,172 shares, 1st
April, 2015 - 29,80,316 shares)not allotted but held in abeyance, 44,02,700 shares
cancelled pursuant to a Court Order and 4,80,40,400 shares of the Company
held by the erstwhile The Andhra Valley Power Supply Company Limited
cancelled pursuant to the Scheme of Amalgamation sanctioned by the High Court
of Judicature, Bombay] |
INR 1/- each |
INR 2761.700 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2704773510 |
Equity Shares |
INR 1/- each |
INR 2704.800 Million |
|
|
Calls in arrears |
|
INR 0.400 Million |
|
|
Add: Equity Shares forfeited |
|
INR 0.600 Million |
|
|
|
|
|
|
|
Total |
|
INR 2705.000
Million |
Reconciliation of the shares outstanding at
the beginning and at the end of the reporting period
|
Equity Shares |
Number
of Shares |
Amount
|
|
|
|
|
|
At the beginning of the year |
2706281698 |
2704.800 |
|
Issued during the year |
144112 |
0.200 |
|
Outstanding at the end of the year |
2706425810 |
2705.000 |
|
* Denotes figures below INR 0.050 Million |
|
|
Terms/rights
attached to Equity Shares
The Company has issued only one class of Equity Shares having a par value of INR 1/- per share. Each holder of Equity Shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
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.
Details of
shareholders holding more than 5% shares in the Company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
|
|
|
|
Equity Shares of INR 1/- each fully paid |
|
|
|
Tata Sons Limited |
839799682 |
31.05 |
|
Life Insurance Corporation of India |
332245379 |
12.28 |
|
Matthews Pacific Tiger Fund. |
164620436 |
6.09 |
UNSECURED PERPETUAL
SECURITIES
|
Particulars |
31.03.2017 (INR
in Million ) |
|
Unsecured Perpetual Securities |
15000.000 |
|
Add: Issued during the year |
0.000 |
|
Total |
15000.000 |
In an earlier year the Company raised INR 15000.000 Million through issue of Unsecured Perpetual Securities (the “Securities”). These Securities are perpetual in nature with no maturity or redemption and are callable only at the option of the Company. The distribution on these Securities are 11.40% with a step up provision if the Securities are not called after 10 years. The distribution on the Securities may be deferred at the option of the Company, if during the six months preceding the relevant distribution payment date, the Company has made no payment on, or redeemed or repurchased, any securities ranking pari passu with, or junior to the instrument. As these Securities are perpetual in nature and ranked senior only to the Share Capital of the Company and the Company does not have any redemption obligation, these are considered to be in the nature of equity instruments.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2705.000 |
2704.800 |
|
(b) Reserves & Surplus |
|
147780.600 |
150799.800 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Unsecured Perpetual Securities |
|
15000.000 |
15000.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
165485.600 |
168504.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
88478.600 |
89836.200 |
|
(b) Deferred tax liabilities
(Net) |
|
14720.900 |
15439.400 |
|
(c) Other long term
liabilities |
|
2193.200 |
2104.400 |
|
(d) long-term provisions |
|
1701.700 |
1515.700 |
|
(e)Trade payables |
|
355.700 |
331.200 |
|
Total
Non-current Liabilities (3) |
|
107450.100 |
109226.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
23919.800 |
15070.900 |
|
(b) Trade payables |
|
13446.800 |
12632.600 |
|
(c) Other current liabilities |
|
81301.100 |
33171.500 |
|
(d) Short-term provisions |
|
523.300 |
735.900 |
|
(e)Regulatory Deferral Account
- Liability |
|
6560.000 |
6803.800 |
|
Total
Current Liabilities (4) |
|
125751.000 |
68414.700 |
|
|
|
|
|
|
TOTAL |
|
398686.700 |
346146.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
81302.100 |
82515.300 |
|
(ii) Intangible Assets |
|
1898.700 |
1405.400 |
|
(iii) Capital work-in-progress |
|
6661.800 |
4857.200 |
|
(iv) Intangible assets under
development |
|
2546.800 |
2097.000 |
|
(b) Non-current Investments |
|
223692.700 |
140317.100 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
228.200 |
36444.500 |
|
(e) Other Non-current assets |
|
24987.200 |
27678.500 |
|
(f) Trade receivables |
|
1857.600 |
1857.600 |
|
Total
Non-Current Assets |
|
343175.100 |
297172.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
893.400 |
2.200 |
|
(b) Inventories |
|
6710.900 |
6890.500 |
|
(c) Trade receivables |
|
12342.600 |
10572.300 |
|
(d) Cash and cash equivalents |
|
1560.700 |
458.900 |
|
(e) Short-term loans and
advances |
|
0.000 |
1060.000 |
|
(f) Other current assets |
|
14864.000 |
9058.800 |
|
(g)Regulatory Deferral Account
- Assets |
|
19140.000 |
20930.900 |
|
Total
Current Assets |
|
55511.600 |
48973.600 |
|
|
|
|
|
|
TOTAL |
|
398686.700 |
346146.200 |
|
SOURCES
OF FUNDS |
|
|
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
2704.800 |
|
(b) Reserves & Surplus |
|
|
141961.400 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
|
0.000 |
|
Unsecured Perpetual Securities |
|
|
15000.000 |
|
Statutory Consumer Reserves |
|
|
6232.300 |
|
Special Appropriation Towards
Project Cost |
|
|
5336.100 |
|
Service Line Contributions
From Consumers |
|
|
1045.300 |
|
|
|
|
|
|
Total
Shareholders’ Funds (1) + (2) |
|
|
172279.900 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
87956.300 |
|
(b) Deferred tax liabilities
(Net) |
|
|
10249.800 |
|
(c) Other long term
liabilities |
|
|
939.300 |
|
(d) long-term provisions |
|
|
1499.000 |
|
Total
Non-current Liabilities (3) |
|
|
100644.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
17647.800 |
|
(b) Trade payables |
|
|
13046.600 |
|
(c) Other current liabilities |
|
|
27055.600 |
|
(d) Short-term provisions |
|
|
4937.600 |
|
Total
Current Liabilities (4) |
|
|
62687.600 |
|
|
|
|
|
|
TOTAL |
|
|
335611.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
94589.500 |
|
(ii) Intangible Assets |
|
|
1419.900 |
|
(iii) Capital work-in-progress |
|
|
4723.500 |
|
(iv) Intangible assets under
development |
|
|
762.000 |
|
(b) Non-current Investments |
|
|
132088.900 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
35493.400 |
|
(e) Other Non-current assets |
|
|
29371.600 |
|
Total
Non-Current Assets |
|
|
298448.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
420.000 |
|
(b) Inventories |
|
|
6691.800 |
|
(c) Trade receivables |
|
|
15761.300 |
|
(d) Cash and cash equivalents |
|
|
2792.700 |
|
(e) Short-term loans and
advances |
|
|
3733.000 |
|
(f) Other current assets |
|
|
7764.300 |
|
Total
Current Assets |
|
|
37163.100 |
|
|
|
|
|
|
TOTAL |
|
|
335611.900 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
72180.600 |
86969.400 |
82501.900 |
|
|
Other Income |
9138.300 |
9052.700 |
10246.800 |
|
|
TOTAL
|
81318.900 |
96022.100 |
92748.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Power Purchased |
4665.200 |
7850.600 |
9530.900 |
|
|
Cost of Fuel |
23428.300 |
25504.200 |
31419.100 |
|
|
Cost of Components Consumed |
3499.800 |
3976.600 |
3743.000 |
|
|
Transmission Charges |
2213.000 |
2629.600 |
4368.700 |
|
|
Employees benefits expense |
6608.000 |
6484.700 |
6865.200 |
|
|
Other expenses |
10669.900 |
10913.600 |
9712.800 |
|
|
Regulatory income/(expense)
(net) |
130.000 |
4380.000 |
(4230.000) |
|
|
Regulatory income/(expense)
(net) in respect of earlier years |
(770.000) |
(565.900) |
(45.000) |
|
|
Exceptional Items |
6514.500 |
0.000 |
0.000 |
|
|
TOTAL |
56958.700 |
61173.400 |
61364.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
24360.200 |
34848.700 |
31384.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12956.800 |
11461.200 |
10474.600 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
11403.400 |
23387.500 |
20909.400 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
6342.100 |
6044.600 |
5752.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5061.300 |
17342.900 |
15156.500 |
|
|
|
|
|
|
|
Less |
TAX |
2226.800 |
3793.000 |
5053.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2834.500 |
13549.900 |
10102.900 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export of Services |
NA |
192.700 |
404.000 |
|
|
TOTAL
EARNINGS |
NA |
192.700 |
404.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
NA |
495.800 |
354.200 |
|
|
Components and Spare Parts |
NA |
2254.000 |
1825.000 |
|
|
Fuel |
NA |
9345.700 |
7926.300 |
|
|
TOTAL
IMPORTS |
NA |
12095.500 |
10105.500 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.63 |
4.59 |
3.30 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
52638.100 |
7384.700 |
4766.600 |
|
Cash generated from operations |
23491.800 |
30880.000 |
19859.400 |
|
Net Cash Flows from/(used) in Operating Activities |
21060.400 |
29472.500 |
16879.000 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2016 (Unaudited) |
30.09.2016 (Unaudited) |
31.12.2016 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
19265.900 |
19361.000 |
19587.700 |
|
Total Expenditure |
13236.300 |
13073.000 |
14265.500 |
|
PBIDT (Excluding Other Income) |
6029.600 |
6288.000 |
5322.200 |
|
Other income |
1911.800 |
1810.200 |
2607.200 |
|
Operating Profit |
7941.400 |
8098.200 |
7929.400 |
|
Interest |
3426.500 |
3966.400 |
3519.700 |
|
Exceptional Items |
(110.000) |
(1131.700) |
60.900 |
|
PBDT |
4404.900 |
3000.100 |
4470.600 |
|
Depreciation |
1631.900 |
1683.500 |
1619.100 |
|
Profit Before Tax |
2773.000 |
1316.600 |
2851.500 |
|
Tax |
890.600 |
813.400 |
(2232.200) |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
1882.400 |
503.200 |
5083.700 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
1882.400 |
503.200 |
5083.700 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
62.41 |
44.37 |
69.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.85 |
8.23 |
5.23 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
155.35 |
123.51 |
106.55 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
3.63 |
5.06 |
4.69 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.26 |
0.38 |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.48 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.00 |
0.67 |
0.64 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.76 |
0.41 |
0.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.56 |
0.54 |
0.59 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.88 |
3.04 |
3.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.93 |
15.58 |
12.25 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.71 |
3.91 |
3.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.71 |
8.04 |
5.86 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.44 |
0.72 |
0.59 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.39 |
0.62 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.42 |
0.49 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
61.01 |
41.52 |
40.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.44 |
0.72 |
0.59 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 01/- |
|
Market Value |
INR 86/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2704.800 |
2704.800 |
2705.000 |
|
Reserves & Surplus |
141961.400 |
150799.800 |
147780.600 |
|
Unsecured Perpetual Securities |
15000.000 |
15000.000 |
15000.000 |
|
Statutory Consumer Reserves |
6232.300 |
-- |
-- |
|
Special Appropriation Towards
Project Cost |
5336.100 |
-- |
-- |
|
Service Line Contributions
From Consumers |
1045.300 |
-- |
-- |
|
Net
worth |
171234.600 |
168504.600 |
165485.600 |
|
|
|
|
|
|
long-term borrowings |
87956.300 |
89836.200 |
88478.600 |
|
Short term borrowings |
17647.800 |
15070.900 |
23919.800 |
|
Current Maturities of Long
term debt |
4766.600 |
7384.700 |
52638.100 |
|
Total
borrowings |
110370.700 |
112291.800 |
165036.500 |
|
Debt/Equity
ratio |
0.645 |
0.666 |
0.997 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
82501.900 |
86969.400 |
72180.600 |
|
|
|
5.415 |
(17.005) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
82501.900 |
86969.400 |
72180.600 |
|
Profit |
10102.900 |
13549.900 |
2834.500 |
|
|
12.25% |
15.58% |
3.93% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2705.000 |
2704.800 |
|
(b) Reserves & Surplus |
|
115089.700 |
113629.000 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Unsecured Perpetual
Securities |
|
15000.000 |
15000.000 |
|
Equity attributable to
Shareholders of the Company |
|
18689.900 |
17498.100 |
|
Total
Shareholders’ Funds (1) + (2) |
|
151484.600 |
148831.900 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
251429.600 |
224138.800 |
|
(b) Deferred tax liabilities
(Net) |
|
17598.300 |
20968.600 |
|
(c) Other long term
liabilities |
|
36333.300 |
32901.500 |
|
(d) long-term provisions |
|
2706.800 |
5715.700 |
|
Trade Payables. |
|
355.700 |
331.200 |
|
Total
Non-current Liabilities (3) |
|
308423.700 |
284055.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
162797.900 |
145889.100 |
|
(b) Trade payables |
|
55290.000 |
44013.600 |
|
(c) Other current liabilities |
|
134730.400 |
68378.600 |
|
(d) Short-term provisions |
|
2076.900 |
2624.300 |
|
Regulatory Deferral Account -
Liability. |
|
6560.000 |
6803.800 |
|
Total
Current Liabilities (4) |
|
361455.200 |
267709.400 |
|
|
|
|
|
|
TOTAL |
|
821363.500 |
700597.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
430126.200 |
361008.400 |
|
(ii) Intangible Assets |
|
17058.000 |
3073.400 |
|
(iii) Capital work-in-progress |
|
19232.400 |
11341.600 |
|
(iv) Intangible assets under
development |
|
2546.800 |
2107.500 |
|
Goodwill |
|
17324.800 |
55.400 |
|
(b) Non-current Investments |
|
108617.200 |
114494.000 |
|
(c) Deferred tax assets (net) |
|
915.300 |
32.000 |
|
(d) Long-term Loan and Advances |
|
771.600 |
3903.700 |
|
(e) Other Non-current assets |
|
31000.500 |
31496.200 |
|
Trade Receivables |
|
1879.200 |
1900.000 |
|
Total
Non-Current Assets |
|
629472.000 |
529412.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
10977.800 |
3359.500 |
|
(b) Inventories |
|
15995.600 |
13734.000 |
|
(c) Trade receivables |
|
38321.200 |
35402.400 |
|
(d) Cash and cash equivalents |
|
9543.000 |
6631.600 |
|
(e) Short-term loans and
advances |
|
6554.400 |
4102.700 |
|
(f) Other current assets |
|
34866.800 |
26185.500 |
|
Unbilled Revenue |
|
10819.200 |
8426.400 |
|
Regulatory Deferral Account - Assets |
|
64813.500 |
73342.800 |
|
Total
Current Assets |
|
191891.500 |
171184.900 |
|
|
|
|
|
|
TOTAL |
|
821363.500 |
700597.100 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
278977.200 |
295008.900 |
|
|
Other Income |
|
2022.200 |
913.400 |
|
|
TOTAL
|
|
280999.400 |
295922.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Power Purchased |
|
82189.900 |
91575.300 |
|
|
Cost of Fuel |
|
86923.900 |
79310.600 |
|
|
Raw Material Consumed |
|
10096.700 |
11366.100 |
|
|
Purchase of Finished Goods,
Spares & Shares |
|
264.000 |
296.000 |
|
|
Transmission Charges |
|
2241.300 |
2820.900 |
|
|
Cost of Components Consumed |
|
3499.800 |
3976.600 |
|
|
Decrease in Stock-in-Trade and
Work in Progress |
|
283.400 |
341.600 |
|
|
Employees benefits expense |
|
12959.400 |
12275.100 |
|
|
Other expenses |
|
22051.800 |
21576.800 |
|
|
Regulatory income/(expense)
(net) |
|
6864.600 |
8079.700 |
|
|
Regulatory income/(expense)
(net) in respect of earlier years |
|
(770.000) |
1672.700 |
|
|
Reversal of Impairment in
respect of Property, Plant and Equipment |
|
0.000 |
(24355.100) |
|
|
Impairment in the value of Investments
in Joint Ventures |
|
0.000 |
25333.500) |
|
|
Loss Towards Contractual
Obligation |
|
6514.500 |
0.000 |
|
|
TOTAL |
|
233119.300 |
234269.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
47880.100 |
61652.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
31139.700 |
32358.100 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
16740.400 |
29294.400 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
19885.900 |
16487.300 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
(3145.500) |
12807.100 |
|
|
|
|
|
|
|
Less |
TAX |
|
(458.200) |
6803.100 |
|
|
|
|
|
|
|
|
Share of Net Profit of Associates
and Joint Ventures accounted for using the Equity Method |
|
112172.900 |
1859.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
9485.600 |
7863.900 |
|
|
|
|
|
|
|
|
Other
Comprensive Income/(Expense) for the year attributable to |
|
|
|
|
|
Owners of the Company |
|
(1321.300) |
(234.100) |
|
|
Non-controlling
interest |
|
(5.900) |
(3.600) |
|
|
|
|
(1327.200) |
(237.700) |
|
|
Total
Comprehensive Income for the year attributable to |
|
|
|
|
|
Owners of the Company |
|
6133.500 |
6387.900 |
|
|
Non-controlling interest |
|
2024.900 |
1238.300 |
|
|
|
|
8158.400 |
7626.200 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
2.34 |
2.03 |
LEGAL
CASES
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
27/03/2017 |
|
|||||||
|
Lodging
No.:- |
CHSL/477/2017 |
Filing
Date:- |
27/03/2017 |
Reg. No.:- |
CHS/411/2017 |
Reg.
Date:- |
04/04/2017 |
||
|
Main Matter |
|
Lodging
No.:- |
SL/1105/2016 |
Reg No.:- |
S/192/2017 |
|
Petitioner:- |
PRAMOD PREMCHAND SHAH AND 5 ORS |
|
Respondent:- |
TATA POWER COMPANY LTD |
|
Resp.Adv.:-
DIPESHSIROYA (I162) |
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
CHAMBER SUMMONS. |
|
Last
Date:- |
13/04/2017 |
Stage:- |
|
Last
Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
Act :- |
Code of Civil Procedure 1908 |
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
22/04/2016 |
|
|||||||
|
Lodging No.:- |
SL/429/2016 |
Filing Date:- |
22/04/2016 |
Reg. No.:- |
S/563/2016 |
Reg. Date:- |
04/07/2016 |
||
|
Petitioner:- |
PILOO FALI BOMANJEE AND PERVIN RUSTOM TATA |
|
Respondent:- |
TATA POWER CO.LTD. |
|
Petn.Adv.:- |
J P
DURVE (I15276) |
|
Resp.Adv.:- |
DASTUR KALAMBI AND ASSOCIATES (I14003) |
|
District:- |
MUMBAI |
|
Bench:- SINGLE |
|||||
|
Status:- |
Pre-Admission |
Category:- |
SPECIFIC PERFORMANCE SUIT |
||
|
Act :- |
Code of Civil Procedure 1908 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND:
Subject is a public
limited company domiciled and incorporated in India under the Indian Companies
Act, 1913. The registered office of the Company is located at Bombay House, 24
Homi Mody Street, Mumbai 400001, India.
The Company pioneered
the generation of electricity in India more than a century ago. Prior to 1st
April, 2000 the Tata Electric Companies comprised of the following three
Companies -
• The Tata
Hydro-Electric Power Supply Company Limited, established in 1910 (Tata Hydro).
• The Andhra
Valley Power Supply Company Limited, established in 1916 (Andhra Valley).
• The Tata Power
Company Limited, established in 1919 (Tata Power).
With effect from
1st April, 2000, Andhra Valley and Tata Hydro merged into Tata Power to result
in one large unified entity. The Company has an installed generation capacity
of 2,954 MW in India and a presence in all the segments of the power sector
viz. Fuel and Logistics, Generation (thermal, hydro, solar and wind),
Transmission and Distribution.
FINANCIAL PERFORMANCE AND THE STATE OF THE COMPANY’S AFFAIRS
STANDALONE
On a Standalone
basis, the Operating Revenue stood at INR 72820.000 Million in FY17 compared to
INR 83160.000 Million in FY16. The decrease was mainly due to lower fuel cost
and power purchase cost being passed through for the regulated business. The
Profit after Tax in FY17 was at INR 2830.000 Million as compared to INR
13550.000 Million last year. This was mainly due to loss toward contractual
obligation on account of purchase of shares in TTSL form Docomo along with the
increase in finance cost softened by the impact of favourable regulatory orders
in the previous year. The Earnings per Share (Basic and Diluted) in FY17 stood
at INR 0.63.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENTS
MARKET STRUCTURE
The market
structure may alter significantly in the long-term with the proposed amendments
to the Electricity Act, 2003 (EA, 2003) and also on account of technological
advancements, such as, the introduction of utility-scale storage systems.
GENERATION
The installed
generating capacity in the country as on 31st March 2017, was 327 GW. This does
not include nearly 60 to 90 GW of captive generation capacity. Grid connected
capacity addition during the financial year for the country declined to 17 GW
as compared to capacity addition of 26 GW during the previous financial year.
This slowdown in capacity addition has been due to lack of sufficient growth in
demand. Due to low reliability of supply, consumers continue to use captive
generation.
The generation
portfolio mix saw a substantial increase in renewables based capacities;
meanwhile, the share of hydro based generation in the mix fell to an all-time
low. The increase in renewable based generation has been fueled by rapidly
declining component costs, making renewables highly competitive with respect to
conventional generation. Also, the capacity addition has accelerated due to the
Government’s push to boost renewable generation. The Government has set a target
of 175 GW of renewable generation capacity for the country by 2022. This is in
line with India’s commitments to help arrest climate change and reduce global
warming. This rapid increase in renewables has led to lower plant utilization
for thermal generating stations. Over 30 GW of old and inefficient thermal
assets have been identified for phasing out or replacement with new efficient
units.
OPPORTUNITIES AND
OUTLOOK
As per the Draft National
Electricity Plan (2016) released by the Central Electricity Authority (CEA),
new coal based capacity additions will be required only after 2027. A lot of
coal based generation capacity which got created on the basis of the earlier
demand projections which have not fructified, is as such, rendered stranded. As
the power sector is seen as a key driver supporting the growth of the nation at
large, the Government at the Centre has been pursuing reforms which are
expected to ease some of the known constraints. The Company keeps a close watch
on opportunities arising in the sector.
• Generation
The three focus
areas for the Company would be evaluation of opportunities for a) acquisition
of “stressed” thermal assets in India through the power platform, viz.,
Resurgent Power Ventures Pte. Limited., Singapore, formed by Tata Power
International Pte. Limited. in partnership with ICICI Bank and three
international strategic investors viz. Caisse de dépôt et placement du Québec
(CDPQ) of Canada, Kuwait Investment Authority (KIA) and State General Reserve
Fund (SGRF) of the Sultanate of Oman; b) greenfield development and MandA in
renewable space, particularly solar power and c) greenfield development and
MandA in select international geographies, particularly in renewables.
• Transmission
During the year,
there has been considerable progress made in transmission sector in the
country. Critical regional links have been commissioned/progressed well thereby
facilitating inter-regional transfer of power. In addition, the Government has
announced green transmission corridors which will provide further impetus to
the development of renewable power. Over the next few years, the demand for
transmission capacity is expected to increase significantly, driven primarily by
increase in generation capacity and also due to requirements of open access,
inter-regional transfers and integration of infirm renewable power in the
system.
The Company
continuously pursues the expansion of its transmission network in the Mumbai
and Delhi License Areas. It also keenly tracks any growth opportunities in the
transmission sector and reviews each such opportunity for risks and rewards.
The Company shall certainly pursue good opportunities for investment.
• Distribution
With growing focus
on improving the state of distribution business, some states have been adopting
an input based Distribution Franchisee (DF) model. Currently, other than in
Rajasthan, Uttarakhand and Jharkhand, there are not many urban centres which
have been notified under the Franchisee opportunity. The Company constantly
evaluates such opportunities and was successful in bagging Ajmer DF recently in
Rajasthan. It will continue to pursue other opportunities of partnering with
States/Union Territories that have the institutional will and conviction to
reform and drive operational improvement.
The Company
continues to track developments with respect to amendments to EA, 2003, which
might create opportunities in electricity supply business.
• Fuel
The Company
continues to evaluate sourcing and investment opportunities in thermal coal
mines to meet the current and future generation needs.
• Investments
The Company’s
investments in the promoter companies of Tata Group, namely Tata Sons Limited
and Tata Industries Limited, have greatly helped it to be an integral part of
the prestigious Tata Group and to pursue new and emerging business
opportunities and collaborate with best-in-class companies. Tata Industries has
initiated and promoted Tata ventures in several sectors, including clean
energy, data analytics, digital health, control systems, information
technology, financial services, auto components, advanced materials, telecom
hardware and telecommunication services. Tata Sons has promoted companies such
as Tata Consultancy Services (TCS), investment in which has yielded good
returns to the Company. By virtue of holding equity in Tata Sons and Tata
Industries, the Company had the opportunity to invest in TCS, Trent, Tata
Communications etc. which have been financially beneficial to the Company. The
investments continue to remain important for the Company. A note relating to
the accounting of these investments is included in the Annual Report.
UNSECURED LOAN:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Redeemable Non-Convertible Debentures |
|
|
|
10.75% Series 2072 |
14888.000 |
14868.700 |
|
9.41% Series 2023 |
4988.500 |
4984.700 |
|
9.48% Series 2019 |
4997.000 |
4994.800 |
|
9.32% Series 2017 |
0.000 |
9991.700 |
|
Bonds 8.50% Euro |
0.000 |
3945.400 |
|
Term Loans from Banks |
|
|
|
ICICI Bank |
6050.000 |
0.000 |
|
Deferred Payment Liabilities Sales Tax Deferral |
283.300 |
430.100 |
|
SHORT TERM BORROWINGS |
|
|
|
Buyer’s Line of Credit. |
4090.000 |
3700.600 |
|
Bank Overdraft |
3.200 |
1489.300 |
|
Commercial
Paper [maximum amount outstanding during the year is INR 30000.000 Million
(31st March, 2016 – INR 19500.000 Million)] |
19826.600 |
9881.000 |
|
Total |
55126.600 |
54286.300 |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine months ended |
|
|
|
31.12.2017 Unaudited |
31.12.2017 Unaudited |
31.12.2017 Unaudited |
|
|
|
|
|
|
Generation |
27710.000 |
32880.000 |
93460.000 |
|
Sales |
27820.000 |
32190.000 |
94320.000 |
|
|
|
|
|
|
|
|
|
|
|
INCOME FROM OPERATIONS |
|
|
|
|
Revenue from operations
|
19587.700 |
18798.800 |
56816.200 |
|
Other Income |
2607.200 |
1810.200 |
6562.000 |
|
Total
Income from Operations |
22194.900 |
20609.00 |
63378.200 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of power purchased |
976.800 |
854.700 |
3299.900 |
|
Cost of fuel |
7834.600 |
6674.300 |
21114.500 |
|
Transmission charges |
700.2000 |
700.200 |
2100.800 |
|
Employee benefits expense |
1524.300 |
1477.700 |
4486.800 |
|
Finance Costs |
3519.700 |
3943.900 |
10987.200 |
|
Depreciation and Amortization expenses |
1619.100 |
1576.700 |
4733.000 |
|
Other Expenses |
2059.600 |
1608.900 |
5781.100 |
|
Total
Expenses |
18234.300 |
16836.400 |
52503.300 |
|
Profit/(Loss) before rate regulated activities,
Exceptional items and Tax |
3960.600 |
3772.800 |
10874.900 |
|
Regulatory Income/Expenses (net) |
(1170.000) |
(1155.000) |
(2300.000) |
|
Regulatory Income/Expenses (net) in respect of earlier
years |
0.000 |
0.000 |
0.000 |
|
Profit
/ (Loss) before Exceptional items and tax |
2790.600 |
2617.600 |
8574.900 |
|
Exceptional items |
(60.900) |
1131.700 |
1070.800 |
|
Profit
/ (Loss) before Tax |
2851.500 |
1485.900 |
7504.100 |
|
Tax Expense |
|
|
|
|
Current tax |
893.600 |
408.600 |
2194.900 |
|
Deferred tax |
(2867.200) |
679.100 |
(1919.200) |
|
Deferred tax (Recoverable) / (Payables) |
(258.600) |
(5.000) |
(268.600) |
|
Net
Profit / (Loss) for the period from continuing operations |
5083.700 |
403.200 |
7497.000 |
|
Profit / (Loss) before tax from discontinued operations |
(269.800) |
(169.300) |
(698.000) |
|
Tax expenses on discontinued operations |
(428.900) |
(269.300) |
(1109.800) |
|
Net Profit / (Loss) for the period from discontinued operations |
159.100 |
100.000 |
411.800 |
|
Profit for the
period |
5242.800 |
503.200 |
7908.800 |
|
Other Comprehensive Income/Expenses |
|
|
|
|
Items that will not be reclassified to profit or loss |
169.700 |
(3152.00) |
(3007.100) |
|
Tax relating to items that will not be reclassified to profit or loss |
(210.900) |
287.800 |
76.900 |
|
Other
Comprehensive Income/Expenses |
(41.200) |
(2864.200) |
(2930.200) |
|
Total
Comprehensive Income |
5201.600 |
(2361.000) |
4978.600 |
|
Paid-up Equity Share Capital
(Face value INR 1/- per share) |
2705.000 |
2705.000 |
2705.000 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings per Share from continuing operations (excluding
regulatory income/expense) net (of INR 1 /- each) (Not annualized for
quarters) Basic /diluted |
2.06 |
0.32 |
3.01 |
|
|
|
|
|
|
Earnings per Share from continuing operations
(including regulatory income/expense)
net (of INR 1 /- each) (Not annualized for quarters) Basic /diluted |
1.77 |
0.04 |
2.46 |
|
|
|
|
|
|
Earnings per Share from discontinued operations (of INR 1 /-
each) (Not annualized for quarters) Basic /diluted |
0.06 |
0.04 |
0.15 |
|
|
|
|
|
|
Earnings per Share from (Total operations including
regulatory income (of INR 1 /- each) (Not annualized for quarters) Basic /diluted |
1.83 |
0.08 |
2.61 |
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(INR In Million)
|
Particulars |
Quarter
ended |
Nine
months ended |
|
|
|
31.12.2017 Unaudited |
31.12.2017 Unaudited |
31.12.2017 Unaudited |
|
1. Segment
Revenue |
|
|
|
|
Power
Business |
18008.300 |
17307.900 |
53395.700 |
|
Others
|
409.400 |
335.900 |
1120.500 |
|
Total |
18417.700 |
17643.800 |
54516.200 |
|
Less: Inter –
segment revenue |
0.000 |
0.000 |
0.000 |
|
Total segment
revenue |
18417.700 |
17643.800 |
54516.200 |
|
Discontinued operations
|
712.200 |
562.200 |
2110.600 |
|
Revenue income
from operations (Including regulatory
income/ Expense ) |
19129.900 |
18206.000 |
56626.800 |
|
|
|
|
|
|
2. Segment
Results |
|
|
|
|
Profit/ (loss)
before tax and interest |
|
|
|
|
Power
Business |
4023.700 |
4824.800 |
13489.700 |
|
Others
|
104.500 |
101.800 |
359.500 |
|
Total segment
results |
4128.200 |
4926.600 |
13849.200 |
|
Less: Finance Costs |
(3519.700) |
(3943.900) |
(10987.200) |
|
Less:
Exceptional items – Unallocable |
60.900 |
(1131.700) |
(1070.800) |
|
Add:
Unallocable Income/
Expense (Net) |
2182.100 |
1634.900 |
5712.900 |
|
Profit Before
Tax from continuing operations |
2851.600 |
1485.900 |
7504.100 |
|
Profit/(Loss)
before tax from discontinued
operations |
(269.800) |
(169.300) |
(698.000) |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
Power
Business |
144679.500 |
148365.500 |
144679.500 |
|
Others
|
1213.300 |
24874.900 |
1213.300 |
|
Unallocable |
234434.300 |
235451.300 |
234434.300 |
|
Asset classified
as held for sale |
20708.700 |
0.000 |
20708.700 |
|
Total Assets |
401035.800 |
408691.700 |
401035.800 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
Power
Business |
34477.200 |
36941.000 |
34477.200 |
|
Others
|
1535.500 |
5117.800 |
1535.500 |
|
Unallocable |
174481.900 |
190591.600 |
174481.900 |
|
Liabilities
classified as held for sale |
9862.400 |
0.000 |
9862.400 |
|
Total Liabilities |
220357.000 |
232650.400 |
220357.000 |
RECONCILIATION OF
REVENUE
(INR In
Million)
|
Particulars |
Quarter
ended |
Nine
months ended |
|
|
|
31.12.2017 Unaudited |
31.12.2017 Unaudited |
31.12.2017 Unaudited |
|
|
|
|
|
|
Revenue
from operations |
19587.700 |
18798.800 |
56816.200 |
|
Add/Less:
Regulatory Income / expenses |
(1170.000) |
(1155.000) |
(2300.000) |
|
Add/Less:
Regulatory Income / expenses (net) in respect of earlier years |
0.000 |
0.000 |
0.000 |
|
Total
segment revenue |
18417.700 |
17643.800 |
54516.200 |
|
Discontinued
operations |
712.200 |
562.200 |
2110.600 |
|
Total
segment revenue |
19129.900 |
18206.000 |
56626.800 |
Note:
1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 14th February, 2018.
2. Coastal Gujarat Power Limited (CGPL), a subsidiary of the Company has been
incurring significant losses. The lenders and the management of CGPL are in
discussion with the buyers of power (DISCOMs) to arrive at alternative
solutions to minimize the operating losses including the offer for sale of 51%
shareholding in CGPL at a nominal value to procurers subject to grant of
compensatory tariff to CGPL. The discussions are still at an exploratory stage
with various stakeholders. Based on the review of the recoverability of the
carrying amount of its investment of INR 115488.500 Million in CGPL and
investments in subsidiaries for downstream investments in coal mines and
related infrastructure, no adjustment to the carrying value is considered
necessary.
3. Exceptional Items and Other Comprehensive Income include mark to market loss
on change in the value of put option on the equity shares of Tata Teleservices
Limited (TTSL) and changes in the value of equity shares of TTSL respectively.
4. The Board of Directors of the Company has approved a scheme of arrangement
for transfer of 379.5 MW renewable assets of the Company to its wholly owned
subsidiaries as a "going concern" on a slump sale basis and in
exchange for which, the lump sum consideration will be paid by the respective
transferee companies. The Company has filed the necessary petition before the
National Company Law Tribunal (NCLT) for its approval and has convened a
meeting of its shareholders as directed by NCLT.
The effect of the scheme would be recognized on receipt of statutory approvals.
5. The Company has initiated a process for disposal of its Strategic
Engineering Division (SED), subject to requisite approvals. Accordingly,
results of SED for all the periods presented have been disclosed as results
from Discontinued Operations.
6. During the quarter ended 31st December, 2017, the
Company, has initiated process of sale of its investments in Tata Ceramics
Limited (a subsidiary) and Tata Projects Limited (an associate), subject to
requisite approvals. The Company expects to realise value from the sale in
excess of the carrying value of its investments in the said entities.
7. During the quarter ended 31st December, 2017, the Company has recognized
deferred tax asset amounting to Rs.297.35 crore on indexation benefit available
under Income Tax Act on certain investments that have been classified as asset
held for sale.
8. Figures for the previous periods/year are re-classified/re-arranged/re-grouped, wherever necessary.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G28991792 |
100064829 |
SBICAP TRUSTEE
COMPANY LIMITED |
17/11/2016 |
- |
20000000000.0 |
202, MAKER TOWERS
E,CUFFE PARADE,MUMBAIMH400005IN |
|
2 |
G01576339 |
100020125 |
HDFC BANK LIMITED |
19/01/2016 |
- |
2500000000.0 |
HDFC BANK
HOUSE,SENAPATI BAPAT MARG, LOWER PAREL (W),MUMBAIMH400013IN |
|
3 |
C67950097 |
10598263 |
SBICAP TRUSTEE
COMPANY LIMITED |
14/10/2015 |
- |
880000000.0 |
202, MAKER TOWER,
'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN |
|
4 |
G14029359 |
10598261 |
SBICAP TRUSTEE
COMPANY LIMITED |
14/10/2015 |
29/09/2016 |
2160000000.0 |
202, MAKER TOWER,
'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN |
|
5 |
C82400714 |
10584922 |
ICICI BANK LIMITED |
23/07/2015 |
10/02/2016 |
2800000000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
6 |
C69908408 |
10577058 |
IDFC BANK LIMITED |
05/06/2015 |
26/10/2015 |
2500000000.0 |
KRM TOWER, 8TH FLOOR,
NO. 1,HARRINGTON ROAD, CHETPETCHENNAITN600031IN |
|
7 |
C51485845 |
10564962 |
KOTAK MAHINDRA
BANK LIMITED |
30/03/2015 |
- |
2500000000.0 |
27BKC, C 27, G
BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
8 |
C39264825 |
10540687 |
SBICAP TRUSTEE
COMPANY LIMITED |
22/12/2014 |
- |
3950000000.0 |
202, MAKER TOWER,
'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN |
|
9 |
C17498056 |
10516127 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
01/08/2014 |
- |
9300000000.0 |
ASIAN BUILDING, GROUND
FLOOR17, R KAMANI MARG, BALLARD ESTATEMUMBAIMH400001IN |
|
10 |
C45553310 |
10552955 |
IFCI LIMITED |
23/07/2014 |
- |
2000000000.0 |
IFCI TOWER,61,
NEHRU PLACENEW DELHIDL110019IN |
CONTINGENT LIABILITIES
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Claims against the Company not acknowledged as debts consist of |
|
|
|
Interest and penalty demand disputed by the Company relating to Entry tax claims for the financial years 2005-06 to 2012-13 |
19674.300 |
18136.900 |
|
Disallowance of carrying cost and other costs by Appellate Tribunal for Electricity (ATE) has been disputed by the Company. Based on legal opinions (the Company has a strong case), the Company has filed Special Leave Petition (SLP) with the Supreme Court |
2690.000 |
0.000 |
|
Custom duty claims (including interest and penalty) disputed by the Company relating to applicability and classification of coal [Payment made under protest against these claims of INR 1355.200 Million (31st March, 2016 - INR 1355.200 Million, 1st April, 2015 - INR 1355.200 Million)] |
1700.100 |
1700.100 |
|
Way Leave fees (including interest) claims disputed by the Company relating to rates charged |
841.800 |
725.800 |
|
Demand raised by collector towards periodic revision in lease rent disputed by the Company |
1500.000 |
0.000 |
|
Rates, Cess, Excise and Custom Duty claims disputed by the Company |
380.100 |
368.500 |
|
Octroi claims disputed by the Company, in respect of octroi exemption claimed by the Company |
50.300 |
50.300 |
|
Compensation disputed by private land owners in respect of private land acquired under the provisions of Maharashtra Industrial DevelopmentAct, 1961 |
220.000 |
220.000 |
|
Other claims against the Company not acknowledged as debts. |
454.600 |
269.300 |
FIXED ASSETS:
Tangible Assets
- Freehold Land
- Hydraulic Works
- Buildings – Plant
- Roads, Railway sidings, crossings, etc.
- Plant and Equipment
- Furniture and Fixtures
- Office Equipment
- Motor
- Vehicles, Launches, Barges, etc
- Helicopters
Intangible
Assets
- Computer software
- Copyrights, patents, other intellectual property rights, services and operating rights
- Licences and franchises
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 records 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
|
INR |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.