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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

497935

Report Date :

15.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ADANI ENTERPRISES LIMITED (w.e.f. 10.08.2006)

 

 

Formerly Known As :

ADANI EXPORTS LIMITED

 

 

Registered Office :

Adani House, Shrimali Society, Near Mithakhali Circle Six Road, Navrangpura, Ahmedabad – 380009, Gujarat

Tel. No.:

91-79-25555101/ 25555555

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

02.03.1993

 

 

Com. Reg. No.:

04-019067

 

 

Capital Investment / Paid-up Capital :

INR 1099.810 Million

 

 

CIN No.:

[Company Identification No.]

L51100GJ1993PLC019067

 

 

IEC No.:

[Import-Export Code No.]

0888021119

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMA01099A

 

 

GSTIN :

[Goods & Service Tax Registration No.]

24AABCA2804L1Z0

 

 

TIN No :

24073403448

 

 

PAN No.:

[Permanent Account No.]

AABCA2804L

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges

 

 

Line of Business :

Subject is engaged in the wholesale trade services – Coal, Power Mining and Trading. (Registered Activity)

 

 

No. of Employees :

854 (Approximately) 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow But Correct

 

 

Litigation :

Clear

 

 

Comments :

Incorporated in the year 1993, “Adani Enterprise Limited” is a part of “Adani Group” having satisfactory track record. It is mainly involved in coal trading, power trading and coal mine developer and operator.

 

The whole group in involved in diversified conglomerate and it is engaged in various business across sectors like energy, logistics, oil and gas, agro-processing and storage and commodities trading.

 

For the financial year 2017, the revenue of the company has marginally increased compared to its previous year along with low profit margin due to subdued prices of imported coal as they are linked with international coal prices index.

 

Rating takes into consideration, the robust financial profile marked by adequate net worth base along with average debt level balance sheet and favorable gap between trade payables and trade receivables.

 

Rating continue to derive strength from the wide experience of the promoters in global trading businesses supported by company’s leading position in imported coal trading business in the country along with overseas mining assets and diversified operations of the group with strong presence in energy value chain.

 

Moreover the company is listed on BSE and NSE. Price quoted at BSE is held at INR 160.00 against its face value of INR 1.

 

The Adani Group flagship had clocked a net profit margin at 4.47% for the third quarter ended December 2017-2018.

 

However, these rating strengths are partially offset by risk associated with commodity price movement and exchange rate fluctuations, working capital intensive nature of operations in coal and mining segment and weakening of operational margins due to underperformance of one of its key subsidiaries Viz. Adani Power Limited (APL).

 

Payments are seems to be slow but correct.

 

In view of aforesaid the company can be considered for business dealings with 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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Rating = A

Rating Explanation

Adequate degree of safety and low credit risk

Date

05.01.2018

 

 

Rating Agency Name

CARE

Rating

Non – Fund Based Limits = A1

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

05.01.2018

 

 

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 15.03.2018.

 

 

INFORMATION DENIED

 

MANAGEMENT NON-COOPERATIVE (Tel No.:91-79-25555555 / 25555101)

 

 

LOCATIONS

 

Registered Office :

Adani House, Shrimali Society, Near Mithakhali Circle, Six Road, Navrangpura, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-25555555/ 25555080/ 25555650/ 26565555/ 25555101

Fax No.:

91-79-26565500/ 25555500/ 25556490

E-Mail :

adani@ad1.vsnl.net.in

info@adanigroup.com

jaladhi.shukla@adani.in

parthiv.parikh@adani.in

Website :

www.adani.com

www.adaniports.com

 

 

Solar Power Plant :

Located at

 

·         Bitta Village, Kutch, Gujarat, India

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Gautambhai Shantilal Adani

Designation :

Chairman

Address :

Shantivan Farm House, Behind Karnavati Club, Mohemadpura, Ahmedabad – 380057, Gujarat, India

Date of Birth/Age :

24.06.1962

Qualification :

S Y B.Com

Date of Appointment :

03.03.1993

PAN No.:

ABKPA0965H

Voter ID No.:

GJ1111068108989

DIN No.:

00006273

 

 

Name :

Mr. Rajesh Shantilal Adani

Designation :

Managing Director

Address :

Shanti Sagar Bunglow, Rajpath Club to Bopal Road, Near Kantam Party, Plot Cross Road, Bodak Dev, Ahmedabad – 380059, Gujarat, India

Date of Birth/Age :

07.12.1964

Qualification :

B.COM

Date of Appointment :

10.06.2005

PAN No.:

ABKPA0962A

DIN No.:

00006322

 

 

Name :

Mr. Pranav Vinodbhai Adani

Designation :

Director

Address :

Param Shanti Bunglow, Survey No. 100/1, Near Shaswat Bunglow, Behind Rajpath Club, Ahmedabad – 380059, Gujarat, India

Date of Appointment :

31.03.2015

DIN No.:

00008457

 

 

Name :

Mr. Berjis Minoo Desai

Designation :

Director

Address :

Yezerina – II, Road No. 5, 740/741 Dadar Parsi Colony, Dadar, Mumbai – 400014, Maharashtra, India

Date of Birth/Age :

02.08.1956

Qualification :

Post Graduate in Law

Date of Appointment :

03.12.2012

DIN No.:

00153675

 

 

Name :

Mr. Hemant Madhusudan Nerurkar

Designation :

Director

Address :

Flat No. 1201, 12th Floor, Lodha Grandeur Rahimtullah Sayani Road, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

20.10.1948

Qualification :

B. Tech in Metallurgical

Experience :

36 years

Date of Appointment :

11.08.2015

DIN No.:

00265887

 

 

Name :

Mr. Venkataraman Subramanian

Designation :

Additional Director

Address :

B-265, 1st Floor, Greater Kailash ,Part-I Delhi 110048

Date of Appointment :

22.08.2016

DIN No.:

00357727

 

 

Name :

Mrs. Vijaylaxmi Joshi

Designation :

Additional Director

Address :

Government Bunglow No.25 Dafnala, Shaibaug, Vadodara-380004, Gujarat, India 

Date of Appointment :

02.12.2016

DIN No.:

00032055

 

 

Name :

Mr. Vinay Prakash

Designation :

Additional Director

Address :

4 Espace, Nirvana Country, South City II, Gurugram-122003, Haryana, India

Date of Appointment :

12.08.2017

DIN No.:

03634648

 

 

Name :

Mr. Rajiv Nayar

Designation :

Additional Director

Address :

2nd Floor, Retreat, 7 Unique Park, Satellite Ahmadabad City, Manekbag, Ahmedabad-380015, Gujarat, India

Date of Appointment :

12.08.2017

DIN No.:

07903822

 

 

Name :

Mr. Narendra Mairpady

Designation :

Additional Director

Address :

Door No. 8-125/16, Sumati Sadan, Dattanagar, Padavu, Mangalore – 575006, Karnataka, India

Date of Appointment :

09.12.2017

DIN No.:

00536905

 

 

KEY EXECUTIVES

 

Name :

Mr. Rajiv Nayar

Designation :

Company Financial Officer (KMP)

Address :

2nd Floor, Retreat, 7 Unique Park, Satellite Ahmadabad City, Manekbag, Ahmedabad-380015, Gujarat, India

Date of Appointment :

12.08.2017

PAN No.:

ABNPN3915F

 

 

Name :

Mr. Jatinkumar Rameshchandra Jalundhwala

Designation :

Company Secretary

Address :

602, Satkrut, Partha Sarthi Avenue, 132, Ring Road, Near Shaymal Raw House, Ahmedabad – 380015, Gujarat, India

Date of Appointment :

13.05.2015

PAN No.:

ADIPJ3773C

 

 

SHAREHOLDING PATTERN

 

AS ON DECEMBER 2017

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares

(A) Promoter & Promoter Group

823963479

74.92

(B) Public

275846604

25.08

Grand Total

1099810083

100.00

 

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares

A1) Indian

0.00

Individuals/Hindu undivided Family

2

0.00

Gautambhai Shantilal Adani

1

0.00

Rajeshbhai Shantilal Adani

1

0.00

Any Other (specify)

729526379

66.33

Shri Gautam S. Adani/Shri Rajesh S. Adani (on behalf of S. B. Adani Family Trust)

621197910

56.48

Shri Gautam S. Adani/Smt.Priti G. Adani (on behalf of Gautam S. Adani Family Trust)

8836750

0.80

Adani Properties Private Limited

0.00

Adani Tradeline LLP

99491719

9.05

Sub Total A1

729526381

66.33

A2) Foreign

0.00

Any Other (specify)

94437100

8.59

Afro Asia Trade and Investments Limited

30249700

2.75

Universal Trade and Investments Limited

30249700

2.75

Worldwide Emerging Market Holding Limited

30249700

2.75

Pan Asia Trade & Investment Private Limited

3688000

0.34

Sub Total A2

94437100

8.59

A=A1+A2

823963481

74.92

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER

 

Category & Name of the Shareholders

No. of fully paid up equity shares held

Shareholding % calculated as per SCRR, 1957 As a % of

 

B1) Institutions

0

0

Mutual Funds/

20

8550608

Foreign Portfolio Investors

145

221519037

Elara India Opportunities Fund Limited

1

44933468

Cresta Fund Limited

1

32041414

Albula Investment Fund Limited

1

29012133

Em Resurgent Fund

1

23905339

Vespera Fund Limited

1

15624892

Apms Investment Fund Limited

1

13966339

Emerging India Focus Funds

1

12627981

Financial Institutions/ Banks

7

5992313

Any Other (specify)

2

288478

Foreign Institutional Investors

2

288478

Sub Total B1

174

236350436

B2) Central Government/ State Government(s)/ President of India

0

0

B3) Non-Institutions

0

0

Individual share capital upto INR 0.200 Million

70567

23839603

Individual share capital in excess of INR 0.200 Million

3

792174

Any Other (specify)

3852

14864389

HUF

1515

1159292

Trusts

4

1900

Bodies Corporate

642

6048594

NRI

1183

6118269

Clearing Members

506

1481810

Foreign National

1

10000

IEPF Authority

1

44524

Sub Total B3

74422

39496166

B=B1+B2+B3

74596

275846602

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the wholesale trade services – Coal, Power Mining and Trading. (Registered Activity)

 

 

Products / Services :

NIC Code

Product/ Services Description

46610

Wholesale trade Service – Coal Trading

35105

Power Trading

05103

Coal Mining

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Customers :

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

No. of Employees :

854 (Approximately) 

 

 

Bankers :
  • State Bank of India
  • ICICI Bank Limited
  • Axis Bank Limited
  • Standard Chartered Bank
  • YES Bank Limited
  • Bank of Maharashtra
  • HDFC Bank Limited
  • IDBI Bank Limited
  • Canara Bank
  • IndusInd Bank Limited
  • RBL Bank Limited
  • Vijaya Bank
  • Central Bank of India
  • IDFC Bank Limited
  • Bank of India
  • EXIM Bank

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Term Loan From Bank

 

 

From Bank

1994.600

8577.100

From financial institution / NBFC

1235.700

1211.300

Foreign currency loan from Banks

1639.800

2154.900

10.20% Redeemable non-convertible debenture 

1488.300

0.000

Short-term borrowings

 

 

From Bank

 

 

Term Loan

5578.400

9350.000

Cash credit facilities

2516.300

1563.800

Buyer’s credit facilities

13960.700

8715.900

Total

28413.800

31573.000

 

 

Auditors :

 

Name :

Dharmesh Parikh and Company

Chartered Accountants

Address :

303 / 304, Milestone, Near Drive-In-Cinema, Opposite T.V. Tower, Thaltej, Ahmedabad – 380054, Gujarat, India

Tel. No.:

91-79-27474466

Fax No.:

91-79-27479955

PAN No.:

AAGFD1279G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Controlling Entity :

Shantilal Bhudhermal Adani Family Trust (SBAFT)

 

 

Subsidiaries Companies :
  • Adani Global Limited, Maurtius
  • Adani Agri Logistics Limited
  • Adani Agri Fresh Limited
  • Adani Energy Limited
  • Adani Shipping (India) Private Limited
  • Natural Growers Private Limited
  • Chendipada Collieries Private Limited
  • Parsa Kente Collieries Ltd
  • Adani Welspun Exploration Limited
  • Rajasthan Collieries Limited
  • Adani Synenergy Limited
  • Adani Power Dahej Limited
  • Adani Pench Power Limited
  • Kutchh Power Generation Limited
  • Adani Green EnergyLimited
  • Adani Defence Systems and Technologies Limited
  • Mahaguj Power Limited
  • Adani Chendipada Mining Private Limited
  • Adani Resources Private Limited
  • Surguja Power Private Limited
  • Jhar Mining Infra Private Limited
  • Prayatna Developers Private Limited
  • Talabira (Odisha) Mining Private Limited (Formerly known as korba clean coal Private Limited)
  • Adani Tradecom LLP
  • Adani Tradex LLP
  • Adani Commodities LLP
  • Adani Tradewing LLP
  • Adani Infrastructure Private Limited
  • Adani Cementation Limited

 

 

Associate Company :
  • CSPGCL AEL Parsa Collieries Limited
  • GSPC LNG Limited

 

 

Step-down Subsidiary Companies/Firms/ Entities :
  • Adani Renewable Energy Park Limited
  • Adani Agri Logistics (Harda) Limited
  • Adani Agri Logistics (Hoshangabad) Limited
  • Adani Agri Logistics (Satna) Limited
  • Adani Agri Logistics (Ujjain) Limited
  • Adani Agri Logistics (Dewas) Limited
  • Adani Agri Logistics (MP)Limited
  • Adani Gas Holdings Limited (Formerly known as Mundra LNG Limited)
  • Adani Gas Limited
  • Adani Global Pte. Limited, Singapore.
  • Adani Shipping Pte. Limited, Singapore
  • Rahi Shipping Pte. Limited, Singapore
  • Adani Global FZE, Dubai.
  • Adani Mining Pty Limited, Australia
  • PT Adani Global, Indonesia
  • PT Adani Global Coal Trading, Indonesia
  • PT Coal Indonesia, Indonesia
  • PT Mundra Coal Indonesia (upto 06.10.2016)
  • PT Sumber Bara, Indonesia
  • PT Energy Resources, Indonesia
  • PT Niaga Antar Bangsa, Indonesia
  • PT Niaga Lintas Samudra, Indonesia
  • PT Gemilang Pusaka Pertiwi, Indonesia
  • PT Hasta Mundra, Indonesia
  • PT Lamindo Inter Multikon, Indonesia
  • PT Mitra Naiga Mulla, Indonesia
  • PT Suar Harapan Bangsa, Indonesia
  • PT Tambang Sejahtera Bersama, Indonesia
  • Aanya Maritime Inc, Panama
  • Aashna Maritime Inc, Panama
  • Adani Minerals Pty. Limited, Australia
  • Adani Bunkering Pte. Limited Singapore (upto 01.01.2017)
  • Adani Bunkering Private Limited
  • AWEL Global Limited, UAE
  • Galilee Transmission Holdings Pty Limited
  • Galilee Transmission Pty Limited
  • Adani Green Energy (Tamilnadu)Limited
  • Adani Renewable Energy Park (Gujarat)Limited
  • Adani Infrastructure Pty Limited, Australia
  • Mundra Solar Limited
  • Ramnad Renewable Energy Limited
  • Kamuthi Renewable Energy Limited
  • Ramnad Solar Power Limited
  • Kamuthi Solar Power Limited
  • Mundra Solar PV Limited
  • Adani Wind Energy (AP)Limited (Formerly known as Adani Green Energy (Telengana)Limited)
  • Adani Green Energy (MP)Limited
  • Adani Land Defence Systems and Technologies Limited
  • Adani Aero Defence Systems and Technologies Limited
  • Adani Green Energy (UP) Limited
  • Parampujya Solar Energy Private Limited (Formerly known as Parampujya Developers Private Limited)
  • Rosepetal Solar Energy Private Limited (Formely known as Rosepetal Developers Private Limited)
  • Mundra Solar Technopark Private Limited
  • Adani Wind Energy (Gujarat) Private Limited (Formerly known as Duryodhana Developers Private Limited)
  • Kilaj Solar (Maharashtra) Private Limited
  • Adani Green Technology Limited (Formerly known as Sami Solar (Gujarat) PrivateLimited)
  • Wardha Solar (Maharashtra) Private Limited
  • Mahoba Solar (UP) Private Limited
  • Gaya Solar (Bihar) Private Limited
  • Adani Agri Logistics (Kotkapura)Limited
  • Adani Agri Logistics (Katihar)Limited
  • Adani Agri Logistics (Panipat)Limited
  • Adani Agri Logistics (Moga)Limited
  • Adani Agri Logistics (Raman)Limited
  • Adani Agri Logistics (Barnala)Limited
  • Adani Agri Logistics
  • Adani Agri Logistics (Mansa)Limited
  • Adani Agri Logistics (Bathinda)Limited
  • Urja Maritime Inc.
  • Adani North America Inc.

 

 

Associates with whom transactions done during the year :
  • Adani Textile Industries

 

 

Joint Control Entities :
  • Adani Wilmar Limited
  • Adani Renewable Energy Park Rajasthan Limited
  • Adani Wilmar Pte. Limited, Singapore
  • Vishakha Industries Private Limited
  • AWN Agro Private Limited
  • Golden Valley Agrotech Private Limited
  • Vishakha Polyfab Limited
  • KOG KTV Food Products (India) Private Limited
  • Indianoil – Adani Gas Private Limited
  • KTV Health and Foods Private Limited
  • Adani Elbit Advanced Systems India Limited

 

 

Enterprises over which Controlling Entity or Key Management Personnel about have significant influence with whom transaction done during the year:

  • Adani Properties Private Limited
  • Adani Education and Research Foundation
  • Adani Institute for Education and Research
  • Adani Power Limited
  • Adani Petronet (Dahej) Port Private Limited
  • Adani Ports and Special Economic Zone Limited
  • Adani Power Maharashtra Limited
  • Adani Power Rajasthan Limited
  • Udupi Power Corporation Limited
  • Mundra SEZ Textile and Apparel Park Private Limited
  • Karnavati Aviation Private Limited
  • MPSEZ Utilities Private Limited
  • Adani Logistics Limited
  • Mundra International Airport Private Limited
  • Adani Hazira Port Private Limited
  • Adani Petronet (Dahej) Port Private Limited
  • Adani Vizag Coal Terminal Private Limited
  • Adani Kandla Bulk Terminal Private Limited
  • The Dhamra Port Company Limited
  • Adani Warehousing Services Private Limited
  • Adani Murmugao Port Terminal Private Limited
  • Adani Transmission Limited
  • Adani Transmission (India) Limited
  • Maharashtra Eastern Grid Power Transmission Company Limited
  • Adani Petroleum Terminal Private Limited
  • Adani Infra (India) Limited
  • Raipur – Rajnandgaon – Warora Transmission Limited
  • Chhattisgarh – WR Transmission Limited
  • Sipat Transmission Limited
  • Adani Power (Jharkhand) Limited
  • North Karanpura Transco Limited
  • Sarguja Rail Corridor Private Limited
  • Adani Infrastructure and Developers Private Limited
  • Adani Township and Real Estate Company Limited
  • Adani M2K Project LLP
  • Adani Textile Industries

 

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4859200000

Equity Shares

INR 1/- each

INR 4859.200 Million

4500000

Preference Shares

INR 10/- each

INR 45.000 Million

 

Total

 

INR 4904.200 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1099810083

Equity Shares

INR 1/- each

INR 1099.800 Million

 

 

 

 

 

Rights, Preferences and Restrictions Attached to Equity Shares

 

The Company has only one class of Equity Shares having a par value of INR 1/- per share and each holder of the Equity Shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of Interim dividend.

 

In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of shares held by the shareholders.

 

Details of shareholders holding more than 5% shares in the Company

 

Particulars

As at 31st March, 2017

Nos.

% Holding

Name of the Shareholder

 

 

Gautam S. Adani / Rajesh S. Adani (On behalf S.B. Adani Family Trust)

621197910

56.48%

Parsa Kente Rail Infra LLP

99491719

9.05%

Total

720689629

65.53%

 

As per records of 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.

 

 

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

.

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1099.800

1099.800

1099.800

(b) Reserves & Surplus

36572.000

34351.000

101680.800

(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

37671.800

35450.800

102780.600

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

18578.200

19113.300

25351.500

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

781.600

5934.700

2505.900

(d) long-term provisions

163.600

143.600

56.900

Total Non-current Liabilities

19523.400

25191.600

27914.300

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

49054.000

41192.300

26352.000

(b) Trade payables

32179.500

29377.000

57818.900

(c) Other current liabilities

7881.400

12528.600

9611.900

(d) Short-term provisions

272.700

300.200

1936.900

Total Current Liabilities

89387.600

83398.100

95719.700

 

 

 

 

TOTAL

146582.800

144040.500

226414.600

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5119.600

4249.000

8742.400

(ii) Intangible Assets

6500.500

6540.700

234.300

(iii) Capital work-in-progress

6216.000

8511.500

2703.700

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

30995.700

11092.800

69534.200

(c) Deferred tax assets (net)

2465.700

3254.500

880.500

(d)  Long-term Loan and Advances

877.500

323.200

13373.400

(e) Other Non-current assets

4994.300

5510.900

13.600

Total Non-Current Assets

57169.300

39482.600

95482.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

10.000

10.000

10.000

(b) Inventories

5945.600

5303.800

5849.200

(c) Trade receivables

29234.400

26419.700

37947.600

(d) Cash and cash equivalents

3642.100

1338.700

2382.500

(e) Short-term loans and advances

37829.300

59862.000

83943.600

(f) Other current assets

12752.100

11623.700

799.600

Total Current Assets

89413.500

104557.900

130932.500

 

 

 

 

TOTAL

146582.800

144040.500

226414.600

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

85950.100

81488.600

149158.500

 

Other Income

6871.700

9776.400

12966.500

 

TOTAL

92821.800

91265.000

162125.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

67927.900

60929.100

117340.200

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(621.600)

514.300

4846.300

 

Employees benefits expense

2470.700

2393.900

1747.000

 

Exceptional Item

0.000

(417.300)

(709.900)

 

Other expenses

10479.600

14720.400

24477.800

 

TOTAL

80256.600

78140.400

147701.400

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

12565.200

13124.600

14423.600

 

 

 

 

 

Less

FINANCIAL EXPENSES

7917.100

7171.400

9286.800

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

4648.100

5953.200

5136.800

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

788.600

793.600

817.300

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

3859.500

5159.600

4319.500

 

 

 

 

 

Less

TAX

1643.100

(41.500)

251.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

2216.400

5201.100

4068.500

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

110.500

4.100

0.000

 

TOTAL EARNINGS

110.500

4.100

0.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2.20

4.73

37.00

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

 

 

 

From Banks

3839.200

3579.700

7036.000

From Financial Institution

187.500

173.000

0.000

From Banks

0.000

1100.000

0.000

Foreign Currency Loan from Banks

469.400

479.600

0.000

Inter corporate Loans

0.000

1500.000

1500.000

Total

4496.100

6832.300

8536.000

Cash generated from operations

(506.000)

(6099.500)

2745.700

Net cash flow from operating activity

(1456.800)

(7042.200)

2198.000

 

 

QUARTERLY RESULTS

 

Particulars

(Unaudited)

30.06.2017

1st Quarter

30.09.2017

2st Quarter

31.12.2017

3st Quarter

Net Sales

30238.500

24061.200

28905.600

Total Expenditure

29273.400

23268.500

26666.000

PBIDT (Excl OI)

965.100

792.700

2239.600

Other Income

1218.000

1171.600

1239.500

Operating Profit

2183.100

1964.300

3479.100

Interest

1662.700

1920.000

1548.400

Exceptional Items

0.000

NA

NA

PBDT

520.400

44.300

1930.700

Depreciation

205.800

208.300

226.500

Profit Before Tax

314.600

(164.000)

1704.200

Tax

84.900

NA

411.100

Provisions and contingencies

NA

NA

NA

Profit After Tax

229.700

(164.000)

1293.100

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

229.700

(164.000)

1293.100

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

124.15

118.34

92.86

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.94

3.08

3.93

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

172.91

175.98

179.85

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

2.11

2.47

2.47

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.70

0.68

1.23

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.77

0.76

0.57

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.91

1.89

0.59

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.37

2.35

0.93

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.47

0.54

0.11

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.59

1.83

1.55

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

2.58

6.38

2.73

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

1.51

3.61

1.80

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

5.88

14.67

3.96

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.00

1.25

1.37

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.93

1.19

1.31

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.26

0.25

0.45

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

65.58

61.05

54.77

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.00

1.25

1.37

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 1.00/-

Market Value

INR 160.00/-

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

1099.800

1099.800

1099.800

Reserves & Surplus

101680.800

34351.000

36572.000

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

102780.600

35450.800

37671.800

 

 

 

 

Long-term borrowings

25351.500

19113.300

18578.200

Short term borrowings

26352.000

41192.300

49054.000

Current Maturities of Long term debt

8536.000

6832.300

4496.100

Total borrowings

60239.500

67137.900

72128.300

Debt/Equity ratio

0.586

1.894

1.915

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

149158.500

81488.600

85950.100

 

 

(45.368)

5.475

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

149158.500

81488.600

85950.100

Profit / (Loss)

4068.500

5201.100

2216.400

 

2.73%

6.38%

2.58%

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

1099.800

1099.800

(b) Reserves & Surplus

 

140259.900

132676.300

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application Money Pending Allotment

 

0.000

0.000

(3) Minority Interest

 

5622.500

852.300

Total Shareholders’ Funds (1) + (2)

 

146982.200

134628.400

 

 

 

 

(4) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

91733.200

70090.400

(b) Deferred tax liabilities (Net)

 

779.300

767.100

(c) Other long term liabilities

 

14690.600

11926.400

(d) long-term provisions

 

439.000

435.800

Total Non-current Liabilities (3)

 

107642.100

83219.700

 

 

 

 

(5) Current Liabilities

 

 

 

(a) Short term borrowings

 

106798.800

110059.900

(b) Trade payables

 

85550.300

53465.700

(c) Other current liabilities

 

29540.800

35790.800

(d) Short-term provisions

 

379.900

396.400

Total Current Liabilities (4)

 

222269.800

199712.800

 

 

 

 

TOTAL

 

476894.100

417560.900

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

102638.600

70247.600

(ii) Intangible Assets

 

33680.500

34485.400

(iii) Capital work-in-progress

 

77309.400

77049.400

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

9816.100

7739.200

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

9759.400

78.400

(e) Other Non-current assets

 

22103.300

14594.100

Total Non-Current Assets

 

255307.300

204194.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

967.600

310.300

(b) Inventories

 

16519.000

12997.800

(c) Trade receivables

 

127417.500

101874.600

(d) Cash and cash equivalents

 

17150.900

15395.000

(e) Short-term loans and advances

 

39350.700

65490.200

(f) Other current assets

 

20181.100

17298.900

Total Current Assets

 

221586.800

213366.800

 

 

 

 

TOTAL

 

476894.100

417560.900

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

373137.000

340083.800

 

Other Income

 

7427.400

11222.800

 

TOTAL

 

380564.400

351306.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

5013.500

6354.900

 

Purchases of Stock-in-Trade

 

306842.500

275603.200

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

45.600

2262.100

 

Employees benefits expense

 

5389.400

5279.200

 

Exceptional Item

 

(269.500)

618.300

 

Other expenses

 

32369.500

33916.700

 

TOTAL

 

349391.000

324034.400

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

31173.400

27272.200

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

15727.400

13569.900

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

15446.000

13702.300

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

6400.000

3144.500

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

9046.000

10557.800

 

 

 

 

 

Less

TAX

 

968.800

779.400

 

 

 

 

 

 

PROFIT FOR THE YEAR BEFORE SHARE IN JOINT VENTURES AND ASSOCIATES

 

8077.200

9778.400

 

 

 

 

 

Add

Share of profit in joint venture and associates

 

1175.300

219.900

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

9252.500

9998.300

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

8.98

9.19

 

 

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

Yes

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

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CORPORATE OVERVIEW

 

The company is one of India’s fastest growing diversified conglomerates with business interests across coal trading and mining, renewable energy generation, agristorage infrastructure and services as well as edible oil and gas distribution. This business mix - business-to business and business-to-consumer – is directed at enhancing access to basic services (electricity through timely coal availability), creating a less polluted world, delivering quality food grain and providing healthy cooking media. In doing so, the Company contributes to creating a better world.

 

STANDALONE FINANCIAL RESULTS

 

On standalone basis the Company registered total revenue of INR 92821.800 million and PAT of INR 2216.400 million.

 

OPERATIONAL HIGHLIGHTS:

 

  • Coal Trading volumes grew by 4% to 80.84 Million Metric Tons ("MMT").

 

  • Coal Mine Development and Operations volumes grew by 33% to 7.33 MMT.

 

  • Renewable Power Generation was 787.12 Million Units of KWh.

 

  • City Gas Distribution volumes was up by 7% to 408.45 Million Metric Standard Cubic Meters ("MMSCM").

 

 

UNSECURED LOANS:

 

Particular

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Term Loan

 

 

From Bank

10469.800

5170.000

From Financial institutions / NBFC

1750.000

2000.000

Short-term borrowings

 

 

Loans from related parties repayable on demand

4850.600

3062.600

Term Loan from bank

1800.000

4850.000

From Others

 

 

Commercial Paper

20000.000

13650.000

Inter-corporate Deposits

348.000

0.000

Total

39218.400

28732.600

 

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

AMOUNT

ADDRESS

1

G46232203

100103711

IDBI TRUSTEESHIP SERVICES LIMITED

14/06/2017

-

2743600000.0

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI MH400001IN

2

G46231320

100103707

IDBI TRUSTEESHIP SERVICES LIMITED

14/06/2017

-

2294300000.0

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,BALLARD ESTATE,MUMBAI MH400001IN

3

G45029303

100100671

SBICAP TRUSTEE COMPANY LIMITED

24/05/2017

-

10740000000.0

202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI MH400005IN

4

G56855323

100093961

CATALYST TRUSTEESHIP LIMITED

25/04/2017

16/10/2017

10000000000.0

GDA HOUSE, FIRST FLOOR, PLOT NO. 85S. NO. 94 & 95, BHUSARI COLONY (RIGHT), KOTHRUD PUNE MA411038IN

5

G39689492

100086872

EXPORT-IMPORT BANK OF INDIA

30/03/2017

-

2040000000.0

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE MUMBAI MH400005IN

6

G31318413

100068054

IDBI TRUSTEESHIP SERVICES LIMITED

29/11/2016

-

10000000000.0

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI MA400001IN

7

G31327596

100068058

IDBI TRUSTEESHIP SERVICES LIMITED

29/11/2016

-

10000000000.0

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAIMA400001IN

8

G26226050

100062525

BANK OF INDIA

22/11/2016

-

5000000000.0

LARGE CORPORATE BRANCH, 2ND FLOOR,BANK OF INDIA BUILDING, BHADRA AHMEDABADGJ380001IN

9

G15532609

100054785

VISTRA ITCL (INDIA) LIMITED

30/09/2016

-

3000000000.0

IL & FS FINANCIAL CENTRE PLOT NO C22 G BLOCK BANDRA KURLA COMPLEX BANDRA EAST MUMBAI MA400051IN

10

G13404959

100052665

IDFC BANK LIMITED

22/08/2016

-

3500000000.0

KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET CHENNAI TA600031IN

 

 

CONTINGENT LIABILITIES:

                                                                                                                                                (INR in million)

PARTICULARS

31.03.2017

31.03.2016

Claims against the company not acknowledged as debts

30.000

30.000

In respect of

 

 

Income tax (interest thereon not ascertainable at present)

1174.700

355.400

Service tax

438.300

355.400

VAT/Sales tax

2309.300

2595.500

Custom duty (Interest thereon not ascertainable at present)

9380.500

9405.600

Excise duty / duty drawback

6.100

3.100

FERA/FEMA

42.600

82.600

In respect of corporate guarantee given- (amount outstanding at close of the year)

 

 

I On Behalf of its subsidiaries

29643.300

19840.000

II On behalf of its associate companies

12894.900

15905.500

In respect of Bank Guarantees given for subsidiaries / Group Companies

6642.800

6285.900

Bills of Exchange Discounted

1362.100

817.000

 

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED 31.12.2017

 (INR In Million)

Particulars

Quarter Ended

Nine Months

ended

 

31.12.2017

30.09.2017

31.12.2017

 

Unaudited

Unaudited

Unaudited

INCOME FROM OPERATIONS

 

 

 

Net Sales

28905.600

24061.200

83205.300

Other Operating Income

1183.400

1171.600

3573.000

Total Income from Operations

30089.000

25232.800

86778.300

 

 

 

 

EXPENSES

 

 

 

Purchase of Stock in Trade

24550.300

23031.600

73581.400

Changes in inventories of finished goods and work-in-progress

(466.200)

(2285.500)

(2445.300)

Employee benefits expense

504.900

675.500

1833.100

Finance costs

1548.400

1920.000

5131.100

Depreciation and Amortization expenses

226.500

208.300

640.600

Other Expenditure

2077.000

1506.300

5682.100

Foreign exchange loss/ (gain)

(56.100)

340.600

500.500

Total Expenses

28384.800

25396.800

84923.500

 

 

 

 

Profit / (Loss) before Tax

1704.200

(164.000)

1854.800

 

 

 

 

Tax Expense

411.100

0.000

496.000

 

 

 

 

Profit / (Loss) after Tax

1293.100

(164.000)

1358.800

 

 

 

 

Other comprehensive income

 

 

 

Items that will not be verified reclassified to profit or loss

(31.600)

(58.000)

(87.800)

Income tax relating to items that will not be reclassified to profit or loss

31.000

0.000

30.400

Items that will not be verified reclassified to profit or loss

0.000

0.000

0.000

Other comprehensive income

(0.600)

(58.000)

(57.400)

Total comprehensive income

1292.500

(222.000)

1301.400

 

 

 

 

Paid-up Equity Share Capital (Face value INR 1/- per share)

1099.800

1099.800

1099.800

Earnings per Share (EPS) - INR

1.18

(0.15)

1.24

 

 

NOTES:

 

1.     The above Financial Results have been reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meetings held on January 18th, 2018.


2. The Statutory Auditors have carried out limited review of the above Financial Results for the quarter and nine months ended December 31st, 2017.


3. The financial results of the Company have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder,


4. During the previous nine months ended December 31st, 2016, the Company had raised a reimbursement claim along with interest thereon on customer for non-lifting of contractual coal quantity and price escalation in mining business. The financial results for the nine months ended December 31st, 2016 include impact on this account to the tune of INR 2122.200 Million in standalone results and INR. 2324.100 Million in consolidated results.

5. a) In the current quarter consolidated results, exceptional item of INR 2.000 Million is due to gain on divestment of 100% equity in step down subsidiary Zemira Renewable Energy Ltd (formerly Adani Wind Energy (AP) Ltd).


b) In the previous quarter consolidated results, gain of INR. 2315.800 Million Was recognised by Company's subsidiary, Adani Mining Pty Ltd, Australia towards acceptance of assignment and obligation of Annual Maximum Tonnage of Coal.


6. The Board of Directors of the Company at its meeting held on October 7th, 2017 approved the Scheme of Arrangement among Adani Enterprises Limited ('the Company) and Adani Green Energy Limited ('AGEL') and their respective shareholders and creditors ('Scheme') under Sections 230 to 232 and other applicable provisions of the Companies Act. 2013 for demerger of the Renewable Power Undertaking (as defined in the Scheme) of the Company and transfer of the same to AGEL. The Scheme has been approved with requisite majority by the shareholders and creditors of the Company and AGEL at their respective meetings held on January 10th, 2018 pursuant to the order dated December 1st, 2017, passed by the Hon'ble National Company Law Tribunal (NCLT).


The Scheme is subject to approval of the NCLT and other requisite statutory and regulatory authorities.

7. The Company had issued Rated, Listed, Secured, Redeemable Non-Convertible Debentures (NCDs) of INR 150.00 Million and has maintained 100% security cover on NCDs as on December 31st, 2017 by way of subservient charge on entire current assets and movable fixed assets of the Company except assets pertaining to mining business.


8. Previous periods figures have been regrouped / rearranged wherever necessary, to conform to the current period's classification.

 

 

FIXED ASSETS:

 

Tangible Assets

·         Land

·         Leasehold Improvements

·         Buildings

·         Plant and Machinery

·         Furniture and Fixtures

·         Electrical Fittings

·         Office Equipment

·         Computer Equipments

·         Vehicles

·         Air Craft

·         Ship

 

Intangible Assets

·         Software

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No 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 64.98

UK Pound

1

INR 90.82

Euro

1

INR 80.58

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

TRUP

 

 

SCORE FACTORS

 

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

 

 

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)

 

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

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