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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

511928

Report Date :

28.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

RELIANCE INFRASTRUCTURE LIMITED

 

 

Registered Office :

H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra

Tel. No.:

91-22-30386290 / 33031000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2018

 

 

Date of Incorporation :

01.10.1929

 

 

Com. Reg. No.:

11-001530

 

 

Capital Investment / Paid-up Capital :

INR 2630.300 Million

 

 

CIN No.:

[Company Identification No.]

L75100MH1929PLC001530

 

 

IEC No.:

[Import-Export Code No.]

0388064641

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCR7446Q

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

Legal Form :

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

 

 

Line of Business :

Subject is in the business of generation, transmission and distribution of electricity. The Company is the leading player in the country in the Engineering, Procurement and Construction (EPC) segment of the power and infrastructure sectors. The Company is also engaged in implementation, operation and maintenance of several projects in defence sector and infrastructural areas through its special purpose vehicles. v(Registered Activity)

 

 

No. of Employees : (As on 2017)

6037 (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

 

Maximum Credit Limit :

USD 628000000

 

 

Status :

Good

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is the flagship company of the Anil Dhirubhai Ambani Group and was incorporated on 01st October 1929.


It is in the business of generation, transmission and distributor of electricity. The Company is the leading player in the country in the Engineering, Procurement and Construction (EPC) segment of the power and infrastructure sectors.


The Company is also engaged in implementation, operation and maintenance of several projects through special purpose vehicles in various infrastructural areas.


For the financial year 2018, the company has increased its revenue from operations as compared to previous year but maintained decent profitability margin of 21.89%.


Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet.


Further, rating also derives strength from its dominant market position in the power distribution business in Mumbai that is supported by its own generation capacity as well as transmission network ensuring stable regulated returns and financial support provided by the promoters.


However, rating strength is partially offset by high exposure to group companies, exposure in the form of loans and advances, investments and receivables of EPC business resulting in weakening of financial risk profile.


Business is active. Payments are reported to be slow but correct.


In view of aforesaid, the company can be considered for normal business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List

 

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

02.01.2018

 

Rating Agency Name

CARE

Rating

Short term rating : A2

Rating Explanation

Strong degree of safety and low credit risk

Date

25.10.2016

 

 

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 31-03-2018.

 

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 28.05.2018

 

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-cooperative (Tel No.: 91-22-30386286)

 

LOCATIONS

 

Registered Office :

H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra, India

Tel. No.:

91-22-30386290/ 30098181/ 30386286

Fax No.:

91-22-30376633/ 30098128

E-Mail :

rinfra.investor@relianceada.com

rinfa.mcafiling@relianceada.com

Website :

http://www.relianceada.com

www.rinfra.com

 

 

Power Plant :

Dahanu Power Plant

BSES Nagar, Dahanu Road, Thane – 401602, Maharashtra, India

 

Goa Power Plant

Opposite Sancoale, Industrial Estate, Zuarinagar- 403726, Sancoale Mormugao Goa, India

 

Samalkot Power Plant

Industrial Development Area, Peddapuram Mandal, Samalkot- 533440, Andhra Pradesh, India

 

Wind Farm

Near Almangala, Chitradurga – 577558, Karnataka, India

 

 

Corporate Office :

3rd Floor, North Wing, Reliance Energy Center, Santacruz (East), Mumbai – 400055, Maharashtra, India

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Anil Dhirajlal Ambani

Designation :

Director

Address :

39, 'Sea Wind' Cuffe Parade, Colaba Mumbai-400005, Maharashtra, India

Date of Birth/Age :

04.06.1959

Date of Appointment :

18.01.2003

DIN No. :

00004878

 

 

Name :

Mr. Sateesh Seth

Designation :

Director

Address :

4th Floor, Summer Villa, 7th Road, Santacruz (East), Mumbai-400055, Maharshtra, India

Date of Birth/Age :

13.08.1955

Date of Appointment :

24.11.2000

DIN No. :

00004631

 

 

Name :

Mr. Vijay Kumar Chaturvedi

Designation :

Director

Address :

901, Tower 10, Sea Breeze CHS Limited Palm Beach Road, Nerul - 16 Navi Mumbai-400706, Maharashtra, India

Date of Birth/Age :

01.01.1943

Date of Appointment :

21.04.2012

DIN No. :

01802454

 

 

Name :

Mr. Surinder Singh Kohli

Designation :

Director

Address :

J-170, Rajouri Garden, New Delhi-110027, India

Date of Birth/Age :

10.04.1945

Date of Appointment :

14.02.2012

DIN No. :

00169907

 

 

Name :

Mr. Krishnaswamy Ravi Kumar

Designation :

Director

Address :

277, Asian Games Village, New Delhi-110049, India

Date of Birth/Age :

15.06.1949

Date of Appointment :

14.08.2012

DIN No. :

00119753

 

 

Name :

Mr. Vasudeo Rajaram Galkar

Designation :

Director

Address :

5/T-1, Models Exotica, St. Inez, Tiswadi, Panaji-403001, Goa, India

Date of Appointment :

20.09.2014

DIN No. :

00009177

 

 

Name :

Ms. Ryna Zaiwalla Karani

Designation :

Director

Address :

T/37, Godrej Baug, Off Napean Sea Road, Mumbai-400026, Maharashtra, India

Date of Appointment :

20.09.2014

DIN No. :

00116930

 

 

Name :

Mr. Shiv Prabhat

Designation :

Director

Address :

B5, Jeeva Jyot, Settlewad Lane Nepeansea Road, Mumbai-400026, Maharashtra, India

Date of Appointment :

04.11.2015

DIN No. :

07319520

 

 

KEY EXECUTIVES

 

Name :

Ramesh Ganpati Shenoy

Designation :

Company Secretary

Address :

E 115, Bussa Apartments, B M Bhargava Marg, Santacruz (West), Mumbai-400054, Maharashtra, India

Date of Appointment :

22.04.2012

PAN No.:

AHEPS6351D

 

 

Name :

Mr. Lalit Jalan

Designation :

Chief Executive Officer 

Address :

49, Usha Kiran 15, M L Dahanokar Marg, Mumbai-400026, Maharashtra, India

Date of Appointment :

01.01.2016

PAN No.:

ACXPJ5133G

 

 

Name :

Mr. Sridhar Narasimhan

Designation :

Chief Financial Officer

Address :

F-903, Orchid Suburbia, New Link Road, Kandivali (West), Mumbai-400067, Maharashtra, India

Date of Appointment :

04.06.2016

PAN No.:

ADMPN0903C

 

 

Name :

Aashay Sanat Khandwala

Designation :

Company Secretary

Address :

19, Sujata, 5th Floor, 27-C, Juhu Road, Santacruz West, Mumbai - 400054, Maharashtra, India

Date of Appointment :

11.11.2017

PAN No.:

AACPK8749C

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on March, 2018

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

(A) Promoter & Promoter Group

127177036

49.54

(B) Public

129097489

50.29

(C2) Shares held by Employee Trust

450000

0.18

(C) Non Promoter-Non Public

6715475

0.18

Grand Total

262990000

100.00

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

A1) Indian

Individuals/Hindu undivided Family

663424

0.26

Anil D Ambani

139437

0.05

Jai Anshul A Ambani

7

0.00

Jaianmol A Ambani

125231

0.05

Smt Kokila D Ambani

274937

0.11

Tina A Ambani

123812

0.05

Any Other (specify)

126513612

49.28

Reliance Big Private Limited

19500000

7.60

Reliance Innoventures Private Limited

864675

0.34

Reliance Project Ventures And Management Private Limited

106148937

41.35

Sub Total A1

127177036

49.54

A2) Foreign

0.00

A=A1+A2

127177036

49.54

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a %

B1) Institutions

 

Mutual Funds/

8882322

3.46

RELIANCE CAPITAL TRUSTEE CO LTD

2744718

1.07

Foreign Portfolio Investors

63767852

24.84

NORDEA 1 SICAV-MULTI-ASSET FUND

11319602

4.41

BRANDES EMERGING MARKETS VALUE FUND

4433822

1.73

BRANDES INVESTMENT TRUST-BRANDES INTERNATIONAL SMALL CAP EQUITY FUND

3945868

1.54

BRANDES INSTITUTIONAL EQUITY TRUST

3198796

1.25

GENERAL ORGANISATION FOR SOCIAL INSURANCE

3069185

1.20

Financial Institutions/ Banks

891132

0.35

Insurance Companies

23233141

9.05

LIC OF INIA PROFIT PLUS BALANCED FUND

16637769

6.48

THE NEW INDIA ASSURANCE COMPANY LIMITED

3312716

1.29

Any Other (specify)

1245469

0.49

FOREIGN INSTITUTIONAL INVESTORS

1245469

0.49

Sub Total B1

98019916

38.18

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

0.00

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

131212

0.05

Sub Total B2

131212

0.05

B3) Non-Institutions

0.00

Individual share capital upto INR 0.200 million

24467617

9.53

Individual share capital in excess of INR 0.200 million

1263265

0.49

Any Other (specify)

5215479

2.03

Non-Resident Indian (NRI)

1285960

0.50

Clearing Members

257689

0.10

Bodies Corporate

3671830

1.43

Sub Total B3

30946361

12.05

B=B1+B2+B3

129097489

50.29

 

BUSINESS DETAILS

 

Line of Business :

Subject is in the business of generation, transmission and distribution of electricity. The Company is the leading player in the country in the Engineering, Procurement and Construction (EPC) segment of the power and infrastructure sectors. (Registered Activity)

 

 

Products/Services:

Item Code No.

Products/Services Description

351

Power Business

422

EPC and Contract Business

 

 

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 : (As on 2017)

6037 (Approximately)

 

 

Bankers :

Bank Name

Yes Bank Limited

Branch

Nehru Center, 09th Floor, Discovery Of India, Dr. A.B., Road, Mumbai-400018, Maharashtra

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

  • Canara Bank, Specialised Prime Corporate Branch Makers Chambers III, 7th Floor, Nariman Point, Mumbai-400021, Maharashtra, India

 

  • Union Bank Of India, Industrial Finance Branch, Union Bank Bhawan ,1st Floor, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021, Maharashtra, India

 

  • IndusInd Bank, 1st Floor, Opus Centre, # 47, Central Road, Opposite Tunga Paradise, Mumbai-400093, Maharashtra, India

 

 

Facilities :

Secured Loan

31.03.2018

(INR in Million)

31.03.2017

(INR in Million)

Long-term Borrowings

 

 

Non-Convertible Debentures (Redeemable at par)

 

29564.300

External Commercial Borrowings in Foreign Currency

 

1468.00

Term Loans from Banks

 

33154.600

Term Loans from Financial Institutions

 

9200.500

Loan from Others

 

52.200

Short-term borrowings

 

 

Working Capital Loans from Banks

 

11223.400

Term Loan from Bank

 

19000.000

Buyers' Credit - In Foreign Currency from Banks

 

1403.900

Total

NA

105066.900

Auditors 1 :

 

Name :

Haribhakti and Company LLP

Chartered Accountants

 

 

Auditors 2 :

 

Name :

Pathak H D and Associates

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries (including step down subsidiaries) : (As on 2017)
  • Reliance Power Transmission Limited (RePL)
  • Reliance Airport Developers Private Limited (RADPL)
  • BSES Kerala Power Limited (BKPL)
  • Mumbai Metro One Private Limited (MMOPL)
  • Reliance Energy Trading Limited (RETL)
  • Parbati Koldam Transmission Company Limited (PKTCL)
  • DS Toll Road Limited (DSTL)
  • NK Toll Road Limited (NKTL)
  • KM Toll Road Private Limited (KMTL)
  • PS Toll Road Private Limited (PSTL)
  • HK Toll Road Private Limited (HKTL)
  • DA Toll Road Private Limited (DATL)
  • GF Toll Road Private Limited (GFTL)
  • CBD Tower Private Limited (CBDT)
  • Reliance Electric Generation & Supply Private Limited (REGSPL)
  • Reliance Cement Company Private Limited (RCPL) (upto August 21, 2016)
  • Reliance Cement Corporation Private Limited (RCCPL)
  • Reliance Sea Link One Private Limited (RSOPL)
  • Utility Infrastructure & Works Private Limited (UIWPL)
  • Reliance Smart Cities Private Limited (RSCL)
  • Reliance Energy Limited (REL)
  • Reliance E-Generation and Management Private Limited (REGMPL)
  • Reliance Defence Limited (RDL)
  • Reliance Cruise and Terminals Limited (RCTL) (formerly known as Reliance Defence Ventures Limited) w.e.f. Jan 20, 2017
  • BSES Rajdhani Power Limited (BRPL)
  • BSES Yamuna Power Limited (BYPL)
  • JR Toll Road Private Limited (JRTL)
  • Delhi Airport Metro Express Private Limited (DAMEPL)
  • SU Toll Road Private Limited (SUTL)
  • TD Toll Road Private Limited (TDTL)
  • TK Toll Road Private Limited (TKTL)
  • Mumbai Metro Transport Private Limited (MMTPL)
  • North Karanpura Transmission Company Limited (NKTCL)
  • Talcher II Transmission Company Limited (TTCL)
  • Latur Airport Private Limited (LAPL)
  • Baramati Airport Private Limited (BAPL)
  • Nanded Airport Private Limited (NAPL)
  • Yavatmal Airport Private Limited (YAPL)
  • Osmanabad Airport Private Limited (OAPL)
  • Reliance Defence & Aerospace Private Limited (RDAPL)
  • Reliance Defence Technologies Private Limited (RDTPL)
  • Reliance SED Limited (RSL)
  • Reliance Propulsion Systems Limited (RPSL)
  • Reliance Defence System and Tech Limited (RDSTL)(formerly known as Reliance Space Limited (RsPL))
  • Reliance Defence Infrastructure Limited (RDIL)
  • Reliance Helicopters Limited (RHL)
  • Reliance Land Systems Limited (RLSL)
  • Reliance Naval Systems Limited (RNSL)
  • Reliance Unmanned Systems Limited (RUSL)
  • Reliance Aerostructure Limited (RAL)
  • Reliance Defence Systems Private Limited (RDSPL)
  • Tamilnadu Industries Captive Power Company Limited (TICAPCO)
  • Reliance Delhi Metro Trust (RDMT)
  • Reliance Toll Road Trust (RTRT)
  • Reliance Infra Solutions Private Limited (RISPL)
  • Spice Commerce and Trade Private Limited (upto September 30,2016) (SCTPL)
  • Space Trade Enterprises Private Limited (upto September 30,2016) (STEPL)
  • Skyline Global Trade Private Limited (upto September 30,2016) (SGTPL)
  • Worldcom Solutions Limited (upto September 30,2016) (WSL)
  • Hirma Power Limited (upto September 30,2016) (HPL)
  • Jayamkondam Power Limited (upto September 30,2016) (JPL)
  • Reliance Thermal Energy Limited (upto September 30,2016) (RTEL)
  • Noida Global SEZ Private Limited (upto September 30,2016) (NGSPL)
  • Globtech Adivsory Services Limited (upto September 30,2016) (GASL)
  • Dassault Reliance Aerospace Limited (DRAL) w.e.f. February 10, 2017
  • Reliance Rafael Defence Systems Private Limited (RRDSPL) w.e.f. March 31, 2017
  • Western Transmission (Gujarat) Limited w.e.f. December 26, 2016 (WRTGL)
  • Western Transco power Limited w.e.f. December 26, 2016 (WRTML)
  • Reliance Concrete Private Limited (RCoPL) (upto April 01, 2016)

 

 

Associates : (As on 2017)
  • Reliance Power Limited (RePL)
  • Rosa Power Supply Company Limited (ROSA)
  • Sasan Power Limited (SPL)
  • Vidarbha Industries Power Limited (VIPL)
  • Chitrangi Power Private Limited (CPPL)
  • Jharkhand Integrated Power Limited (JIPL)
  • Coastal Andhra Power Limited (CAPL)
  • Samalkot Power Limited (SaPoL)
  • Rajasthan Sun Technique Energy Private Limited (RSTEPL)
  • Dhursur Solar Power Private Limited (DSPPL)
  • Siyom Hydro Power Private Limited (SHPPL)
  • Coastal Andhra Power Infrastructure Limited (CAPIPL)
  • Urthing Sobla Hydro Power Private Limited (USHPPL)
  • Reliance Defence and Engineering Limited (RDEL)
  • Reliance Marine and Offshore Limited (RMOL)
  • E- Complex Private Limited (ECPL)
  • Reliance Geothermal Power Private Limited (RGPPL)
  • Metro One Operations Private Limited (MOOPL)
  • RPL Photon Private Limited (RPPL)
  • RPL Sun Technique Private Limited (RSTPL)
  • RPL Sun Power Private Limited (RSPPL)

 

 

Joint Ventures : (As on 2017)
  • Utility Powertech Limited (UPL)

 

 

Investing Party : (As on 2017)
  • Reliance Project Ventures and Management Private Limited (RPVMPL)

 

 

Enterprises over which person described in Persons having control over investing part has significant influence : (As on 2017)
  • Reliance Innoventures Private Limited(REIL)
  • Reliance Life Insurance Company Limited (RLICL)
  • Reliance General Insurance Company Limited (RGI)
  • Reliance Capital Limited (RCap)
  • Reliance Tech Services Limited (RTSL)
  • Reliance Infocomm Infrastructure Limited (RIIL)
  • AAA Sons Private Limited (AAASPL)
  • Reliance Securities Limited (RSL)
  • Zapak Digital Entertainment Limited (ZDEL)
  • Reliance Infratel Limited (RITL)
  • Reliance Big Private Limited (RBPL)
  • Reliance Webstore Limited (RWL)
  • Reliance Communication Limited (RCom)
  • Talenthouse Entertainment Private Limited (THEPL)
  • Reliance Big Entertainment Limited (RBEL)
  • Reliance Assets Reconstruction Company Limited (RARCL)
  • Reliance Big TV Limited (RBTL)
  • Reliance Money Solutions Private Limited (RMSPL)
  • Reliance Money Limited (RML)
  • Reliance Transport and Travels Private Limited (RTTPL)
  • Reliance Broadcast Network Limited (RBNL)
  • Reliance Infocomm Limited (RInfo)
  • Reliance Mediaworks Limited (RMWL)
  • Reliance Money Precious Metals Private Limited (RMPMPL)
  • Reliance Enterprise and Ventures Private Limited (REVPL)
  • Reliance Home Finance Limited (RHL)
  • Reliance Nippon Life Asset Management Limited (RNLAML) n(Formerly Reliance Capital Asset Management Company Limited )
  • Reliance Commercial Finance Limited (RCFL)
  • Reliance IDC Limited (RIDC)
  • Nationwide Communication Private Limited (NCPL)

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : INR 2630.300 Million

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

450060000

Equity Shares

INR 10/- each

INR 4500.600 Million

8000000

Equity Shares with differential rights

INR 10/- each

INR 80.000 Million

1550000000

Redeemable Preference Shares

INR 10/- each

INR 15500.000 Million

42000000

Unclassified Shares

INR 10/- each

INR 420.000 Million

 

Total

 

INR 20500.600 Million

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

265392065

Equity Shares

INR 10/- each

INR 2654.000 Million

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

262990000

Equity Shares

INR 10/- each

INR 2629.900 Million

 

Add: 354479 Forfeited Shares- Amounts originally paid up

 

INR 0.400 Million

 

Total

 

INR 2630.300 Million

 

 

Shares Pledged Details:

Particulars

As on 31.03.2017

No. of Shares

 

No of Shares Pledged by Promoter Group Companies

83364675

 

Reconciliation of the Shares outstanding at the beginning and at the end of the year:

 

Particulars

As on 31.03.2017

No. of Shares

INR In Million

Equity Shares:

 

 

At the beginning of the year

262990000

2629.900

Outstanding at the end of the year

262990000

2629.900

 

(i) Voting The Company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share.

 

(ii) Dividend The Board of Directors in their meeting dated April 15, 2017 have approved a final dividend of INR 9 per equity share for the financial year ended March 31, 2017. The proposal is subject to the approval of shareholders at the ensuing annual general meeting and if approved would result in a cash outflow of approximately INR 2848.700 million including corporate dividend tax of INR 481.800 million.

 

(iii) Liquidation In the event of liquidation of the Company, the holders of equity shares will be entitled to receive all of the 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.

 

(d) Buy-back of Equity Shares:

Aggregate number of shares bought back during the period of five years immediately preceding the reporting date –44,30,262 (March 31, 2016 - 44,30,262 and April 01, 2015 – 44,30,262).

 

(e) Details of Shareholders holding more than 5% Shares of the Total Equity Shares of the Company:

Name of the Shareholders

As on 31.03.2017

No. of Shares

% held

Reliance Project Ventures and Management Private Limited

106148937

40.36

Life Insurance Corporation of India

25844788

9.83

Reliance Big Private Limited

19500000

7.41

 

 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2018

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2630.300

2630.300

2630.300

(b) Reserves & Surplus

217216.300

207321.100

190356.200

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

219846.600

209951.400

192986.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

45671.600

73519.600

104486.100

(b) Financial Lease Obligations

41109.200

41647.500

42222.600

(c) Trade Payables

87.900

49.800

2528.200

(d) Deferred tax liabilities (Net)

24498.800

25224.000

26355.700

(e) Other long term liabilities

24394.600

21077.000

19503.300

(f) long-term provisions

3647.300

3800.000

3800.000

Total Non-current Liabilities (3)

139409.400

165317.900

198895.900

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

34374.800

52485.400

72414.800

(b) Financial Lease Obligations

586.800

526.600

472.500

(c) Trade payables

52959.800

56488.300

45623.200

(d) Other current liabilities

342.200

87064.800

75402.800

(e) Short-term provisions

140349.600

2519.900

1845.000

Total Current Liabilities (4)

228613.200

199085.000

195758.300

 

 

 

 

TOTAL

587869.200

574354.300

587640.700

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

153939.100

158459.700

163005.000

(ii) Intangible Assets

5405.600

5721.100

6015.500

(iii) Capital work-in-progress

2170.100

1836.700

1686.100

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

172873.400

166397.100

153809.500

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

392.200

0.000

0.000

(e) Other Non-current assets

4529.500

13671.300

22185.100

(f) Trade Receivables

0.000

0.000

2678.300

Total Non-Current Assets

339309.900

346085.900

349379.500

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

2666.400

2522.300

2233.400

(b) Inventories

3356.700

3072.400

4249.600

(c) Trade receivables

48013.300

51000.400

49923.200

(d) Cash and cash equivalents

5856.900

2466.200

2561.000

(e) Short-term loans and advances

135576.900

114623.400

107294.800

(f) Other current assets

53089.100

54583.700

71999.200

Total Current Assets

248559.300

228268.400

238261.200

 

 

 

 

TOTAL

587869.200

574354.300

587640.700

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2018

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

89753.000

87715.000

97730.300

 

Other Income

21655.900

22601.800

20925.200

 

Less : Transfer to General Reserve

0.000

(273.400)

0.000

 

TOTAL

111408.900

110043.400

118655.500

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Power Purchased

28092.600

26233.800

29616.400

 

Cost of Fuel Consumed

10764.900

10047.500

9775.000

 

Construction Material Consumed and Sub-Contracting Charges

4022.700

10981.300

14537.500

 

Employees benefits expense

9950.900

9818.900

9950.200

 

Exceptional Items

(2841.900)

1533.300

409.700

 

Regulatory Income/(Expense)

(2888.900)

(7559.400)

(4274.200)

 

Other expenses

10644.300

10537.400

15019.700

 

TOTAL

57744.600

61592.800

75034.300

 

 

 

 

 

 

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

53664.300

48450.600

43621.200

 

 

 

 

 

Less

FINANCIAL EXPENSES

29297.500

27098.900

22625.300

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

24366.800

21351.700

20995.900

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

8890.900

9304.400

9028.800

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

15475.900

12047.300

11967.100

 

 

 

 

 

Less

TAX

(1167.800)

(836.800)

2026.300

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

16643.700

12884.100

9940.800

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

 

(4413.400)

4869.300

 

 

 

 

 

 

Tax on Dividend written back on account of set off of Dividend Distribution Tax

 

0.000

0.000

 

 

 

 

 

 

Items of other Comprehensive Income recognised directly in retained earnings

 

(244.500)

(266.700)

 

 

 

 

 

 

As per Scheme of amalgamation

 

(56.800)

0.000

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

 

0.000

14000.000

 

Proposed Dividend

 

0.000

0.000

 

Tax on Dividend

 

278.500

428.300

 

Dividend Paid

 

2235.400

2103.900

 

Transfer to Contingency Reserve

 

0.000

0.000

 

Transfer to Debenture Redemption Reserve

 

2003.900

2424.600

 

Balance Carried to the B/S

 

3765.200

(4413.400)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

63.29

48.99

37.80

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2018

31.03.2017

31.03.2016

Current Maturities of Long term debt

NA

37208.900

26524.900

Cash generated from operations

NA

47379.00

53477.300

Net Cash generated from/(used in) Operating Activities

NA

47348.900

54195.100

 

KEY RATIOS

 

 EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Average Collection Days

(Sundry Debtors / Income * 365 Days)

195.26

212.22

186.45

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

1.87

1.72

1.96

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

7.62

7.33

5.82

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

15.99

15.77

10.26

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.33

0.29

0.26

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.47

0.54

0.56

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.36

0.78

1.05

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.04

0.95

1.01

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.73

0.79

0.88

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.83

1.79

1.93

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2018

31.03.2017

31.03.2016

Net Profit Margin

((PAT / Sales) * 100)

%

18.54

14.69

10.17

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

2.83

2.24

1.69

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

7.57

6.14

5.15

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Current Ratio

(Current Assets / Current Liabilities)

1.09

1.15

1.22

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.07

1.13

1.20

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.37

0.37

0.33

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

30.43

62.05

77.34

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.09

1.15

1.22

 

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

 

STOCK PRICES

 

Face Value

INR 10/-

Market Value

INR 417/-

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2016

31.03.2017

31.03.2018

 

INR In Million

INR In Million

INR In Million

Share Capital

2630.300

2630.300

2630.300

Reserves & Surplus

190356.200

207321.100

217216.300

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

192986.500

209951.400

219846.600

 

 

 

 

long-term borrowings

104486.100

73519.600

45671.600

Short term borrowings

72414.800

52485.400

34374.800

Current Maturities of Long term debt

0.000

0.000

0.000

Total borrowings

176900.900

126005.000

80046.400

Debt/Equity ratio

0.917

0.600

0.364

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2016

31.03.2017

31.03.2018

 

INR In Million

INR In Million

INR In Million

Sales

97730.300

87715.000

89753.000

 

 

(10.248)

2.323

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2016

31.03.2017

31.03.2018

 

INR In Million

INR In Million

INR In Million

Sales

97730.300

87715.000

89753.000

Profit

9940.800

12884.100

16643.700

 

10.17%

14.69%

18.54%

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

31.03.2018

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2630.300

2630.300

2630.300

(b) Reserves & Surplus

239559.500

230844.900

213893.000

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

(3) Non-controlling interest

15764.700

15969.500

16277.100

Total Shareholders’ Funds (1) + (2)

257954.500

249444.700

232800.400

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

147192.200

156245.200

195650.100

(b) Financial Lease Obligations

41109.200

41647.500

42222.600

(c) Trade Payables

88.000

49.800

2528.200

(d) Deferred tax liabilities (Net)

30638.200

31870.900

33676.600

(e) Other long term liabilities

65898.800

61081.700

58477.600

(f) long-term provisions

5784.900

5333.800

4862.800

Total Non-current Liabilities (3)

290711.300

296228.900

337417.900

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

36137.700

59785.900

67940.600

(b) Financial Lease Obligations

586.800

526.600

472.500

(c) Trade payables

221474.400

211657.700

182891.000

(d) Other current liabilities

197117.200

161732.100

183059.600

(e) Short-term provisions

3241.000

4100.800

3368.800

Total Current Liabilities (4)

458557.100

437803.100

437732.500

 

 

 

 

TOTAL

1007222.900

983476.700

1007950.800

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

239042.200

240377.300

243275.900

(ii) Intangible Assets

120948.400

125294.700

91484.900

(iii) Capital work-in-progress

13595.000

13048.100

11912.600

(iv) Intangible assets under development

16572.100

10551.600

37799.700

(b) Non-current Investments

132520.300

128951.800

123278.400

(c) Deferred tax assets (net)

1308.900

670.100

260.200

(d)  Long-term Loan and Advances

398.900

0.000

0.000

(e) Other Non-current assets

7109.700

15929.400

25713.400

(f) Trade Receivables

0.000

0.000

2678.200

Total Non-Current Assets

531495.500

534823.000

536403.300

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

3628.400

2541.900

2823.900

(b) Inventories

3944.900

4119.300

5538.000

(c) Trade receivables

54233.900

56835.400

56160.600

(d) Cash and cash equivalents

10601.800

6779.400

4809.200

(e) Short-term loans and advances

131124.900

110616.900

106635.300

(f) Other current assets

272193.500

267760.800

295580.500

Total Current Assets

475727.400

448653.700

471547.500

 

 

 

 

TOTAL

1007222.900

983476.700

1007950.800

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

31.03.2018

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

253982.600

246664.600

262166.100

 

Other Income

21703.800

23973.500

20546.400

 

Less : Transfer to General Reserve

0.000

(273.400)

0.000

 

TOTAL

275686.400

270364.700

282712.500

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Power Purchased

132030.600

131460.600

132322.700

 

Cost of Fuel Consumed

11595.500

10516.100

10160.500

 

Construction Material Consumed and Sub-Contracting Charges

8840.300

19748.000

26242.000

 

Employees benefits expense

19538.900

17062.100

16880.600

 

Exceptional Items

-2953.800

(855.800)

409.400

 

Regulatory Income/(Expense)

-8601.700

(11855.500)

(1909.000)

 

Other expenses

21587.700

20697.400

24665.700

 

TOTAL

182037.500

186772.900

208771.900

 

 

 

 

 

 

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

93648.900

83591.800

73940.600

 

 

 

 

 

Less

FINANCIAL EXPENSES

63408.600

56499.000

50258.100

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

30240.300

27092.800

23682.500

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

19346.300

16883.300

15438.900

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

10894.000

10209.500

8243.600

 

 

 

 

 

Less

Tax Expenses

(682.800)

(1421.800)

2246.200

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

11576.800

11631.300

5997.400

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

18.22

9.11

21.62

 

 

LEGAL CASES

 

 

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH:- BOMBAY

PRESENTATION DATE:- 10.05.2016

LODGING NO:-

NMWL/383/2016

FILING DATE:-

10.05.2016

REG NO:- NMW/311/2016

REG DATE:- 16.07.2016

MAIN MATTER

Lodging No:- WPL/818/2015                                                             Reg No:- WP/944/2015

PETITIONER:-

MUMBAI ELECTRIC EMPLOYEES UNION

RESPONDENT:-

RELIANCE INFRASTRUCTURE LIMITED - Q

PETN.ADV:-

RAJMOHAN A AMONKAR (I3214)

 

DISTRICT:-

MUMBAI

BENCH:-

DIVISION

STATUS:-

Pre-Admission

CATEGORY:-

NOTICE OF MOTION (DIRECTION)

NEXT DATE:-

29.07.2016

STAGE:-

 

LAST CORAM:-

HON’BLE SHRI JUSTICE ANOOP V.MOHTA

 

HON’BLE SHRI JUSTICE G.S. KULKARNI

ACT:-

Contract Labour (Reg. & Abolition) Act

 

 

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

 

CORPORATE INFORMATION:

 

The Company is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors within the infrastructure space such as Power, Roads, Metro Rail, Cement and Defence. RInfra is also a leading utility having presence across the value chain of power business i.e. Generation, Transmission, Distribution and Power Trading. RInfra also provides Engineering, Procurement and Construction (EPC) services for various infrastructure projects.

 

The Company is a public limited Company which is listed on two recognised stock exchanges in India. The Company’s Global Depository Receipts, representing Equity Shares, is also listed on London Stock Exchange. The Company is incorporated and domiciled in India under the provisions of the Indian Companies Act, 1913. The registered office of the Company is located at H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400710. These financial statements of the Company for the year ended March 31, 2017 were authorised for issue by the board of directors on April 15, 2017. Pursuant to the provisions of section 130 of the Act, the Central Government, Income tax authorities, Securities and Exchange Board of India, other statutory regulatory body and under section 131 of the Act, the board of directors of the Company have powers to amend / re-open the financial statements approved by the board / adopted by the members of the Company.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2018

(INR in Million)

31.03.2017

(INR in Million)

Long-term Borrowings

 

Term Loan from Banks

 

80.000

 

 

 

Short-term borrowings

 

 

Term Loans from Banks

 

3950.000

Buyers' Credit - In Foreign Currency from Banks

621.600

Commercial Paper

 

12300.000

Inter Corporate Deposits

 

 

from Related Parties

 

3286.500

Others

 

700.000

Total

NA

20938.100

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G79695755

100161141

YES BANK LIMITED

18/01/2018

-

-

5000000000.0

NEHRU CENTER, 09TH FLOOR, DUSCOVERY OF INDIADR. A.B.ROAD MUMBAI-400018 MAHARASHTRA INDIA

2

G57928194

100129140

Union Bank of India

29/09/2017

-

-

5000000000.0

INDUSTRIAL FINANCE BRANCH, UNION BANK BHAWAN ,1ST FLOOR, 239, VIDHAN BHAVAN MARG, NARIMAN POINT MUMBAI-400021 MAHARASHTRA INDIA

3

G68786649

100137889

YES BANK LIMITED

26/07/2017

-

-

4550000000.0

NEHRU CENTER, 09TH FLOOR, DISCOVERY OF INDIADR. A.B.ROAD MUMBAI-400018 MAHARASHTRA INDIA

4

G48258545

100109254

IndusIund Bank

15/06/2017

-

-

10000000000.0

1ST FLOOR,OPUS CENTRE, # 47, CENTRAL ROAD,OPP. TUNGA PARADISE MUMBAI-400093 MAHARASHTRA INDIA

5

G39587092

100086559

Vijaya Bank

29/03/2017

-

-

2500000000.0

IFB , MUMBAI, NEW EXCELSIOR BLDG,2ND FLOOR, WALLACE STREET, FORT MUMBAI-400001 MAHARASHTRA INDIA

6

G41140625

100089941

Canara Bank

18/03/2017

-

-

5000000000.0

SPECIALISED PRIME CORPORATE BRANCHMAKERS CHAMBERS III, 7TH FLOOR, NARIMAN POINT MUMBAI-400021 MAHARASHTRA INDIA

7

G40778987

100089239

Axis Bank Limited

16/03/2017

-

-

1500000000.0

CORPORATE BANKING BRANCH , 12- MITTAL TOWER1ST FLOOR , A WING , NARIMAN POINT MUMBAI-400021 MAHARASHTRA INDIA

8

G30187074

100066581

Syndicate Bank

19/11/2016

-

-

4000000000.0

SYNDICATE BANK PLOT NO.227 GROUND FLOORNARIMAN BHAVAN NARIMAN MUMBAI-400021 MAHARASHTRA INDIA

9

G71985386

100065996

Canara Bank

19/11/2016

14/12/2017

-

5000000000.0

SPECIALISED PRIME CORPORATE BRANCHMAKERS CHAMBERS III, 7TH FLOOR, NARIMAN POINT MUMBAI-400021 MAHARASHTRA INDIA

10

G32236697

100068213

IDBI TRUSTEESHIP SERVICES LIMITED

14/10/2016

30/12/2016

-

6450000000.0

ASIAN BUILDING, GROUND FLOOR, 17 R KAMANI MARGBALLARD ESTATE MUMBAI-400001 MAHARASHTRA INDIA

 

 

CONTINGENT LIABILITIES:  (As on 2017)

 

i) Claims against the Company not acknowledged as debts and under litigation aggregates to INR 16054.700 Million (March 31, 2016 - INR 17250.400 Million and April 01, 2015 INR 11607.400 million). These include claim from suppliers aggregating to INR 4389.900 Million (March 31, 2016 INR 4318.300 Million and April 01, 2015 INR 3718.700 million), income tax claims INR 7132.700 Million (March 31, 2016 INR 8383.500 Million and April 01, 2015 INR 1683.700 million), indirect tax claims aggregating to INR 4110.800 Million (March 31, 2016 INR 4070.200 Million and April 01, 2015 INR 5686.000 million) out of which claims of INR 3041.000 Million (March 31, 2016 INR 2875.800 Million and April 01, 2015 INR 2710.600 million), if materialised, will be recovered from the customers and other claims INR 421.200 Million (Net of provision made of INR 200.000 million) (March 31, 2016 INR 478.400 Million - Net of Provision made of INR 200.000 Million and April 01, 2015 INR 519.000 Million (Net of provision made of INR 80.000 million).

 

ii) The Company’s application for compounding in respect of its ECB of USD 360 million has been deemed by the Reserve Bank of India (RBI) as never to have been made subsequent to the withdrawal of the compounding application. Accordingly, there is no liability in respect of the compounding fee of INR 1246.800 Million earlier specified by RBI. Subsequent to the withdrawal of the compounding application, the matter has been referred to the Enforcement Directorate where the same is still pending.

 

FIXED ASSETS

 

  • Freehold Land
  • Leasehold Land
  • Buildings
  • Plant and Equipment
  • Distribution Systems
  • Railway Siding
  • Furniture and Fixtures
  • Vehicles
  • Office Equipment
  • Computers
  • Electrical Installations

WEBSITE DETAILS

 

 

NEWS / PRESS RELEASE 

 

RINFRA WINS INR 50 BN IN DMRC ARBITRATION AWARD, WILL USE FUNDS TO PARE DEBT

 

Date: 06.03.2018

 

Delhi HC asks Delhi Metro to deposit INR 35 bn in an escrow account in four weeks

 

 

Reliance Infrastructure won its case against the Delhi Metro Rail Corporation (DMRC) in the Delhi High Courton Tuesday.

 

Anil Ambani-promoted Reliance Infrastructure said the court has upheld its arbitration award of INR 29.50 billion as compensation along with interest to Delhi Airport Metro Express Private Limited (DAMEPL), a subsidiary of Reliance Infrastructure Limited (RInfra).

 

"Reliance Infrastructure stands to get INR 50.6 billion from the award, which it shall entirely utilize to reduce its consolidated debt.

 

This amount is arbitration award amount plus interest till March 31, 2018," the company said in its statement on Tuesday.

 

RInfra added the High Court has also directed DMRC to deposit INR 35.02 billion in an escrow account within four weeks.

 

The initial arbitration awarded was granted by a three-member Arbitration Tribunal unanimously on the basis of termination provisions of the Concession Agreement, which DAMEPL had utilized to terminate its agreement with Delhi Metro Rail Corporation (DMRC).

 

DMRC later challenged this award in the Delhi High Court. "The High Court upheld the validity of the award granted by the three-member Arbitration Tribunal,” the company said in its statement.

 

Rinfra looks to utilize the proceeds from the award to retire its debt. “Now that the Delhi High Court has upheld the award by the arbitration tribunal, we expect the compensation to be paid expeditiously, which we shall utilize to retire the outstanding debt of RInfra and DAMEPL,” a spokesperson for the company said in the statement.

 

MMRDA GIVE CONTRACTS WORTH RS 250 BILLION FOR MUMBAI METRO LINES

 

DATE: 03.03.2018

 

MMRDA appoints contractors for Metro2B, Metro 4 works

 

Contracts for works of over INR 250 billion on upcoming metro lines in the Mumbai metropolitan region were awarded by the MMRDA on Saturday.

 

The Anil Ambani-led Reliance Infrastructure and Tata Project were among the firms that emerged winners.

 

The executive committee of the Mumbai Metropolitan Regional Development Authority (MMRDA) which met today appointed contractors to construct elevated viaduct and stations on two metro corridors, an official statement said.

 

The works awarded include INR 109 billion worth of contracts on the Metro 2B corridor that will connect D N Nagar in the north west suburb of Andheri with Mandale in the north east, and INR 145 billion for the north-south Metro-4 corridor which will run between Kasarwadavali in Thane and Wadala, the statement said.

 

"By appointing contractors for the entire corridors the committee has only underlined the need of metro corridors for the city and its metropolitan region," Metropolitan Commissioner U P S Madan was quoted as saying.

 

A consortium of Reliance Infrastructure and ASTALDI was awarded the INR 5.4 billion 'package-8' on the Metro-4 corridor which consists of Bhakti Park, Wadala TT, Anik Nagar Bus Depot, Suman Nagar, Siddharth Colony and Amar Mahal junction stations, it said.

 

The same consortium also won the INR 5.31-billion 'package 12', comprising Kapurbawdi, Manpada, Tikuji-ni-wadi, Dongripada, Vijay Garden and Kasarvadavali stations.A consortium of Tata Project and China Harbour Engineering won the INR 53.2 billion 'package 9' for seven stations on the same line, the statement said.

           

 

 

 

 

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 67.52

UK Pound

1

INR 91.48

Euro

1

INR 80.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

PSD

 

 

Report Prepared by :

RKI

 

 

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)

 

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.