DOCSLIB.ORG

Press Release Welspun Captive Power Generation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Press Release Welspun Captive Power Generation Press Release Welspun Captive Power Generation Ltd February 15, 2019 Ratings Amount Facilities Ratings1 Remarks (Rs. crore) Short -term Bank Facilities 65 CARE A1+ Revised from CARE A2+ (A One Plus) Total 65 (Rupees Sixty Five crore only) Non-Convertible Debentures^ CARE AA (SO); Stable Reaffirmed 88 [Double A (Structured Obligation); Outlook: Stable] ^Backed by unconditional and irrevocable Corporate Guarantee of Welspun India Ltd (rated ‘CARE AA: Stable/CARE A1+’) Detailed Rationale & Key Rating Drivers-of the company The short-term rating assigned to Welspun Captive Power Generation Ltd’s (WCPGL’s) bank facilities continues to factor in comfortable liquidity position of the company as reflected by substantial cash balance and liquid investments, improved operating performance of the plant as evinced by PLF levels. This has resulted in improvement in operational cash-flows and provides strong revenue visibility for the future. The rating assigned also factors in comfortable capital structure on account of reduction in debt. The rating continues to derive comfort from the parentage of the Welspun group and experience of the management in operating captive power plants, low off-take risk due to the requirement for additional cost-effective and reliable source of power by the group. The rating is, however, constrained by absence of long term arrangements for assured supply of fuel (coal) and dependence on the group companies for revenue generation. WCPGL’s ability to achieve and maintain the envisaged Plant Load Factor (PLF) ensuring continuous supply of cost- effective power and any significant change in off-takers’ credit profile are the key rating sensitivities. The rating assigned to the long-term instruments of WGCPL continue to factor in credit enhancement in form of unconditional and irrevocable corporate guarantee extended by Welspun India Ltd (WIL rated CARE AA; Stable/A1+) to the Non-Convertible Debenture (NCD) holders for the repayment obligations. Detailed Rationale & Key Rating Drivers of the guarantor-Welspun India Ltd The reaffirmation in the ratings assigned to the long term facilities and Commercial Paper issue of Welspun India Limited (WIL) reflects the, demonstrated strong relationships with large global retail chains, steady revenues, comfortable capital structure and healthy debt coverage indicators. The ratings continue to draw comfort from the resourceful promoters (i.e. Welspun group) and extensive experience of the management, WIL’s leading position in home textiles segment with global reach, its well-diversified product portfolio, strong brand image and increasing level of vertical and backward integration. The ratings are, however, constrained by WIL’s exposure to inherent industry risks, such as volatility in raw material prices and fluctuations in foreign currency. However, the same is largely covered through Price variation/pass through mechanism with its major customers. WIL’s ability to achieve the envisaged growth in the revenue and profit following successful completion of the planned capex in the flooring division is a rating sensitivity. Moreover, addition of any large-sized project impacting financial risk profile is also a rating sensitivity. Detailed description of the key rating drivers- of the company Key Rating strengths: Parentage of the Welspun group: WCPGL is a part of the Welspun group, a USD 2.3 billion diversified conglomerate which is into varied businesses which include line pipes, steel and textiles. By virtue of being a part of the Welspun group, WCPGL draws strength from the experience of the management in implementation of projects and operation of industrial units and captive power plants. Low off-take risk: The off-take risk of WCPGL is lower as the entire capacity is consumed by the group companies. WIL holds 95% stake in WCPGL as on date, while Welspun Steel Ltd (WSL) and Welspun Corp Ltd (WCL) hold 3.15% and 1.75% 1 Complete definition of the ratings assigned is available at www.careratings.com and other CARE publications 1 CARE Ratings Limited Press Release respectively. Power off-take generally would happen in the proportion of shareholding; however power off-take quantity is fungible amongst shareholders. WIL which holds 95% stake in the company has a superior credit profile which augurs well from credit perspective. Comfortable liquidity position and healthy capital structure: WCPGL has a comfortable liquidity position as reflected by substantial cash balance and liquid investments, improved operating performance of the plant as evinced by PLF levels. Further, the capital structure of the company is also robust due to reduction in debt levels. As at the end of FY18, the overall gearing of WCPGL stood at 0.60x as against that of 1.11x at the end of FY17. PBILDT interest coverage stood at 8.41x at the end of FY18 as against that of 2.02x at the end of FY17. Liquidity analysis: WCPGL has cash and cash equivalents of Rs.11.43 crore and current investments of Rs.79.51 crore as on December 31, 2018. The unutilized non-fund based limit stood at Rs.15 crore as on December 31, 2018. Considering that the company does not have any long term debt obligations in FY19, the liquidity position of the company is comfortable. Key Rating Weaknesses: Absence of arrangement for assured supply of coal: WCPGL operates its power plant on imported coal. However, the company does not have long-term arrangements in place thereby exposing the company to the risk related to supply of raw materials. Significant dependence on the group companies for revenue generation: Since the company derives 100% of its revenues from group companies, the financial performance of company would be contingent upon power off-take and timely payments by the group companies. However, the group benefits from the assured power provided by WCPGL as such the plant remains important to the group. Detailed description of the key rating drivers-of the guarantor Key Rating Strengths Resourceful promoters: WIL is a prominent company of the Welspun group, a USD 2.3 billion diversified conglomerate with established track record in fields such as line pipes, steel and textiles. By virtue of being a part Welspun group, the company draws strength from the experience and competence of the management. Leading position in home textiles segment with global reach: WIL is the largest home textiles company in Asia and amongst top three home textiles manufacturers in the world. The company is the largest exporter of home textile products from India and supplies to 17 of the Top 30 global retailers. Established relationship with the large global retail chains: WIL has been a regular supplier over many years to leading retail chains such as Walmart Stores, Kohls, Bed Bath & Beyond, Ikea Trading Hong Kong Ltd., Macy's Merchandising Group Llc, which provides revenue stability. Steady revenue: The company has been reporting steady revenues on a YoY basis. Though the revenue of the company was impacted to an extent in FY18 on account of de-stocking by major retailers in the US, the situation is subsiding as evinced by recovery in revenue in 9M FY19. Comfortable capital structure: The capital structure of the company has stabilized over the last few years. Consolidated gearing has improved from 1.48x as at end-FY17 to 1.34x as at end-FY17. Improvement in consolidated gearing level was on account of reducing debt and increasing accretion to reserves. Liquidity analysis: The liquidity position of the company is comfortable as reflected by cash and cash equivalents of Rs.435.20 crore as on December 31, 2018. Further, the company also has unutilized fund based limit of Rs.75.62 crore and unutilized CP limit of Rs.160 crore as on December 31, 2018. Key Rating Weaknesses WIL’s exposure to inherent industry risks: The company’s margins are to an extent susceptible to volatility in raw material prices and currency fluctuation risk. However, the same is largely covered through Price variation/pass through mechanism with its major customers. Analytical approach: Standalone/Guarantor’s assessment Applicable Criteria: Criteria on assigning Outlook to Credit Ratings CARE’s Policy on Default Recognition Rating Methodology: Factoring Linkages in Ratings 2 CARE Ratings Limited Press Release Rating Methodology - Infrastructure Sector Ratings Financial ratios – Non-Financial Sector Rating Methodology - Private Power Producers About the Company-WCPGL WCPGL was promoted by the Welspun Group through four group companies, viz., Welspun Corp Ltd. (WCL), Welspun India Ltd. (WIL), Welspun Steel Ltd. (WSL) and AYM Syntex Limited. The current shareholding structure (as on date) is as follows: Company Shareholding Welspun India Ltd (WIL) 95% Welspun Corp Ltd (WCL) 1.75% Welspun Steel Ltd (WSL) 3.15% Others 0.00% WCPGL operates a 1x80 Mega-Watt (MW) coal-based Captive Power Plant (CPP) to cater to the additional power requirement of the group companies, i.e. WIL, WSL and WCL, located at Welspun group’s manufacturing complex at Welspun City, Anjar, Bhuj Dist., Gujarat. Power generated by WCPGL would generally be purchased in the ratio of the equity shareholding of the company. However power off-take quantity is fungible amongst shareholders. During FY18 WCPGL reported consolidated total income of Rs.366.07 crore and consolidated PAT of Rs.54.05 crore as compared to total income Rs.215.60 crore and PAT of Rs.19.10 crore in FY17. Brief Financials (Rs. crore) FY17 (A) FY18 (A) Total operating income 215.60 366.07 PBILDT 56.53 127.41 PAT 19.10 54.05 Overall gearing (times) 1.11 0.60 Interest coverage (times) 2.02 8.41 A: Audited About the Guarantor-WIL (guarantee given for NCDs) WIL is a prominent company of the Welspun group promoted by Late Mr. G.R. Goenka, Mr. B.K. Goenka and Mr. R.R. Mandawewala. WIL is the largest home textiles company in Asia and amongst top three home textiles manufacturers in the world.
Load more

Recommended publications
  • 3Rd November 2020 To, the BSE Ltd P.J.Towers, Dalal Street, Mumbai
    3rd November 2020 To, The BSE Ltd National Stock Exchange of India Ltd, P.J.Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400001 Bandra (East), Mumbai – 400051. SCRIP CODE: 508933 Symbol: AYMSYNTEX Subject: Disclosure on Related Party Transaction pursuant to Regulation 23(9) of SEBI (LODR) Regulations, 2015 In Compliance with Regulation 23(9) of SEBI (Listing Obligation and Disclosure Requirements) (Amendments) Regulations, 2018, please find attached herewith disclosure on Related Party Transactions, in the format specified in accordance with Ind AS for the half year ended on September 30 , 2020. Please acknowledge and take the same on your record. For AYM Syntex Limited Ashitosh Sheth Company Secretary ACS 25997 AYM Syntex Limited Related party disclosures for the period ended 30 September 2020 (i) Relationships Holding Company Mandawewala Enterprises Limited Key Management Personnel Mr. Abhishek Mandawewala Mrs. Khushboo Mandawewala Chief Financial Officer Himanshu Dhaddha Company Secretary Ashitosh Sheth Relatives Mr. R.R. Mandawewala Mrs. Pratima Mandawewala Mrs. Khushboo Mandawewala Mr. Yash Mandawewala Other Related parties Mertz Estates Limited Welspun Global Brands Limited Welspun Corp Limited Welspun Steel Limited Welspun Flooring Limited Welspun Usa Inc Welspun India Limited (Amounts in ₹ Lakhs) Holding Enterprises over which Key Management Personnel or relatives of such personnel exercise significant influence or control Key Management Personnel Company and with whom transactions have taken place during
    [Show full text]
  • Draft Letter of Offer
    DRAFT LETTER OF OFFER THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION This Draft Letter of Offer is sent to you as a registered / beneficial owner of Equity Shares of Welspun India Limited (the “Company”) as on the Record Date (as defined below) in accordance with Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (“Buyback Regulations”). If you require any clarifications about the action to be taken, you should consult your stockbroker or investment consultant or the Manager to the Buyback Offer (DAM Capital Advisors Limited (Formerly IDFC Securities Limited)) or the Registrar to the Buyback Offer (Link Intime India Private Limited). Please refer to the section on ‘Definitions of Key Terms’ for the definitions of the capitalized terms used herein. Welspun India Limited CIN: L17110GJ1985PLC033271 Registered Office: Welspun City, Village Versamedi, Taluka Anjar, District Kutch, Gujarat-370 110, India. Corporate Office: Welspun House, 6th Floor, Kamala City, Senapati Bapat Marg, Lower Parel (West), Mumbai- 400 013, Maharashtra, India. Tel.: +91 22 6613 6000; Fax: +91 22 2490 8020 E-mail: [email protected]; Website: www.welspunindia.com Contact Person: Mr. Shashikant Thorat, Company Secretary CASH OFFER TO BUYBACK UP TO 1,66,66,666 FULLY PAID-UP EQUITY SHARES OF FACE VALUE OF RE. 1/- EACH, REPRESENTING APPROXIMATELY 1.66% OF THE TOTAL NUMBER OF EQUITY SHARES IN THE ISSUED, SUBSCRIBED AND PAID-UP EQUITY SHARE CAPITAL OF THE COMPANY, FROM THE EXISTING SHAREHOLDERS / BENEFICIAL OWNERS OF EQUITY SHARES OF THE COMPANY AS ON THE RECORD DATE I.E. MAY 26, 2021, ON A PROPORTIONATE BASIS, THROUGH THE “TENDER OFFER” ROUTE AT A PRICE OF RS.
    [Show full text]
  • Weaving Sustainability
    SCHOOL WEAVING SUSTAINABILITY WELSPUN INDIA LIMITED ANNUAL REPORT 2015-16 FORWARD-LOOKING STATEMENT In this Annual Report, we have disclosed forward looking information to enable investors to comprehend our prospects and take investment decisions. This report and other statements - written and oral - that we periodically make contain forward looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried, wherever possible, to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward looking statements will be realised, although we believe we have been prudent in our assumptions. The achievements of results are subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should keep this in mind. We undertake no obligation to publicly update any forward looking statement, whether as a result of new information, future events or otherwise. CONTENTS The Welspun India Story 1-43 2015-16 About Welspun India 2 was an exceptional year for your Milestones 4 Global Presence 6 company. We delivered record Our Products and Solutions 8 sales, profits and expanded our Financial Highlights 14 Chairman’s Message 16 business in key growth markets. Sourcing Sustainably 18 We were ranked No. 1 among the Environment Management 20 Spun: Threads with a soul 22 ‘Top 15 Home Supplier Giants Our Strategy 24 to USA’ for the 4th consecutive Welspun 2.0 26 The People Edge 28 year.
    [Show full text]
  • Notice of 26Th Annual General Meeting on August
    WELSPUN CORP LIMITED CIN : L27100GJ1995PLC025609 Registered Office : Welspun City, Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat, Pin – 370110, India. Board No.: +91 2836 662079, Fax No. + 91 2836 279060, Email : [email protected] Website: www.welspuncorp.com Corporate Office : Welspun House, 7th Floor, Kamala City, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013. Board : +91 -22-66136000 Fax: +91-22-2490 8020 N O T I C E NOTICE is hereby given that the 26th Annual General Meeting of Welspun Corp Limited will be held on Tuesday, August 31, 2021 via Video Conference or Other Audio-Visual Means at 12:30 pm to transact the businesses mentioned below. The proceedings of the Annual General Meeting (“AGM”) shall be deemed to be conducted at the Registered Office of the Company at Welspun City, Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat – 370110 which shall be the deemed venue of the AGM. ORDINARY BUSINESS: 1) To receive, consider and adopt the audited standalone financial statements for the financial year ended March 31, 2021 and the reports of the Board of Directors and the Auditors thereon. 2) To receive, consider and adopt the audited consolidated financial statements for the financial year ended March 31, 2021 and the reports of the Board of Directors and the Auditors thereon. 3) To declare a dividend on Equity Shares for the financial year 2020-21. 4) To appoint a director in place of Mr. Rajesh Mandawewala (DIN: 00007179), who retires by rotation, and being eligible, offers himself for re-appointment. SPECIAL BUSINESS: 5) To consider and, if thought fit, to pass the following resolution as an ordinary resolution: Appointment of Ms.
    [Show full text]
  • Press Release Welspun Captive Power Generation Limited
    Press Release Welspun Captive Power Generation Limited March 26, 2021 Ratings Amount Facilities Rating1 Rating Action (Rs. crore) CARE A1+ Short -term Bank Facilities 65.00 Reaffirmed (A One Plus) Long -term-Fund based CARE A+; Stable 20.00 Reaffirmed facilities (Single A Plus; Outlook: Stable) Short term non-fund based CARE A1+ 90.00 Reaffirmed facilities (A One Plus) 175.00 Total (Rupees One Hundred Seventy-Five crore only) Details of instruments/facilities in Annexure-1 Detailed Rationale & Key Rating Drivers The rating assigned to Welspun Captive Power Generation Limited’s (WCPGL) bank facilities continues to factor in comfortable liquidity position of the company as reflected by substantial cash balance and liquid investments, stable operating performance of the plant as evinced by PLF levels. This has resulted in consistent albeit marginally low operational cash-flows. The rating continues to derive comfort from the parentage of the Welspun group and experience of the management in operating captive power plants, low off-take risk due to the requirement for additional cost-effective and reliable source of power by the group. The rating is, however, constrained by absence of long-term power purchase agreement and fuel supply agreement for assured supply of fuel (coal) and dependence on the group companies for revenue generation. WCPGL’s ability to achieve and maintain the envisaged Plant Load Factor (PLF) ensuring continuous supply of cost-effective power and any significant change in off- takers’ credit profile are the key rating sensitivities. Rating Sensitivities Positive Factors Signing of long-term agreement (over 10 years) with the off-takers.
    [Show full text]
  • WCL /SEQ'2019 June 5, 2019 To, BSE Ltd. National Stock Exchange Of
    “~-“WELSPUN CORP V V PIPES AND PLATES WCL /SEQ’2019 June 5, 2019 To, BSE Ltd. National Stock Exchange of India Ltd. Listing Department, Exchange Plaza, P. J. Towers, Dalal Street, Bandra-Kurla Complex, Mumbai — 400 001. Bandra (E), Mumbai — 400 051. (Scrip Code-532144) (Symbol: WELCORP, Series EQ) Dear Sirs/ Madam, Sub: Disclosure of Related Party Transactions for H’YE 31.03.2019 Ref. Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (“Listing Regulations”) In compliance with the above referred Listing Regulations, please find enclosed herewith Related Party Transactions on a consolidated basis for the half year ended March 31, 2019 in the format specified in the relevant accounting standards. Note that the financial results have been approved by the Board of Directors on May 15, 2019. Kindly take the same in your record. Thanking you. For Welspun Corp Limited Pradeep Joshi Company Secretary FCS-4959 We spun Corp L mited Weispun House, 5th Floor, Kamala City, Senapati Bapat Marg, Lower Parel (West). Mumbai 400 013. India, T : +912266136000 / 2490 8000 F: +912224908020 E-mail : companysecretary_wcI(~.weIspun.com Website : www.wetspuncorp.com Registered Address: Weispun City, Village Versamedi. Taluka Anjar. District Kutch. Gujarat 370 110. India. T : +91 2836 662222 F : +91 2836 279060 Corporate Identity Number: L27100GJ1995PLC025609 Weispun Corp Limited : Disclosure of Transactions with Related Parties 31.03.2019 a) Entities havinq siqnificant influence Name Type Effective proportion of ownership interest As at _____________________________ March 31, 2019 Weispun Pipes Limited Significant influence 41.64% Weispun Group Master Trust - . -Holds 100% shares of Welspun Pipes - Limited b) List of Related parties Name of Joint Venture Effective proportion of ownership interest As at March 31, 2019 Weispun Wasco Coatings Private Limited 51.00% Welspun Middle East Pipes Company LLC 50.01% Weispun Middle East Pipes Coating Company LLC 50.01% c) Key management Personnel Name Nature of Relationship Mr.
    [Show full text]
  • Spectrum of Welspun Brands: Continue to Evolve
    Y4rWELSPUNHOME TEXTILES INDIA WIL/SEC/20 19 July 19, 2019 To Bombay Stock Exchange Limited National Stock Exchange of India Limited Department of Corporate Services, ListingCompliance Department SP. J. Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Mumbai — 400 001 Bandra (F), Mumbai — 400 051 (Scrip Code-514162) (Symbol: WELSPUNIND) Dear Sir / Madam, Sub.: Compliance under Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith the Annual Report of the Company for the financial year 2018-19 along with the Notice of the 34th Annual General Meeting, dispatched to the members on July 19, 2019. The Annual Geenral Meeting of the Company is scheduled to be held on Monday, August 12, 2019 at 10.30 a.m. at the Registered Office of the Company at Welspun City, Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat - 370110. Please take the same on record. Thanking you. For Welspun India Limited Cletancial Officer Ent-I~ kcaEow~ * Weispun India Limited Welspun House, 6th Floor. Kamala City, Senaij,’ti Bapat Marg, Lower Parel (West). Mumhai 400 013. India. T +912266136000 / 2490 8000 F +9122 . ‘90 8020 / 2490 8021 E-mail companysecretary_wiI4welspun.com Website . www.welspunindia.com Registered Address: Welspun City. Village Vers~ nedi, Taluka Anjar. District Kutch. Gujarat 370 110, India T +91 2836 661111 F: +91 2836 279 010 Works: Survey No. 76, Village
    [Show full text]
  • The World of Welspun Corp
    WELSPUN CORP LIMITED Corporate Identification Number (CIN) – L27100GJ1995PLC025609 Registered Office : Welspun City, Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat, Pin – 370110, India. Board No.: +91 2836 662079, Fax No. + 91 2836 279060, Email : [email protected], Website: www.welspuncorp.com Corporate Office : Welspun House, 5th Floor, Kamala City, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013. Board : +91 -22-66136000 Fax: +91-22-2490 8020 NOTICE NOTICE is hereby given that the 21st Annual General Meeting of 7) To consider and, if thought fit, to pass the following resolution Welspun Corp Limited will be held on Thursday, September 29, as a Special Resolution: 2016 at the Registered Office of the Company at Welspun City, “RESOLVED THAT pursuant to the provisions of Sections 42 Village Versamedi, Taluka Anjar, Dist. Kutch, Gujarat – 370 110 at and 71 of the Companies Act, 2013 (“the Act”) read with the 10:30 a.m. to transact the following businesses: Companies (Prospectus and Allotment of Securities) Rules, 2014 and all other applicable provisions of the Act and the Ordinary Business: Rules framed thereunder, as may be applicable, and other 1) To receive, consider and adopt the financial statements for applicable Guidelines and Regulations issued by the Securities the financial year ended March 31, 2016 and the reports of the and Exchange Board of India (“SEBI”) or any other law for the Board of Directors and the Auditors thereon. time being in force (including any statutory modification(s) 2) To consider declaration of dividend on Equity Shares. or amendment thereto or re-enactment thereof for the time being in force) and in terms of the Articles of Association 3) To appoint a director in place of Mr.
    [Show full text]
  • Shareholding Pattern As on March 31, 2018
    List of promoter and promoter group pursuant to Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Sr. No. Promoters Name No. of equity % of total shares no. of shares 1 Balkrishan Goenka 84 0.00 2 Rajesh Mandawewala 120 0.00 3 Dipali Goenka - 0.00 4 Radhika Goenka - 0.00 5 Vanshika Goenka - 0.00 6 Pratima Mandawewala - 0.00 7 Krishiraj Renewables Energy Private Limited - 0.00 8 Welspun India Limited - 0.00 9 Welspun Steel Limited - 0.00 10 Alspun Infrastructure Limited - 0.00 11 MGN Agro Properties Private Limited - 0.00 12 Welspun Corp Limited - 0.00 13 Welspun Energy Transportation Private Limited - 0.00 14 Welspun Zucchi Textiles Limited - 0.00 15 Welspun Tradewel Limited - 0.00 (Formerly known as Welspun Finance Limited) 16 Welspun Investments and Commercials Limited 31,39,800 2.13 17 MGN Estates Private Limited - 0.00 18 Veremente Enterprises Private Limited (Formerly known as Welspun - 0.00 Infra Development and Management Private Limited) (Formerly known as Vere Mente Simple-Living Private Limited) (Formerly known as Veremente Simple-living Private Limited) 19 Methodical Investments and Trading Company Private Limited - 0.00 20 Worli Realty Private Limited - 0.00 21 Giant Realty Private Limited - 0.00 22 Friends Connection Private Limited - 0.00 23 Babasu Investments Private Limited - 0.00 24 Taipan Investent Private Limited - 0.00 25 Angel Power and Steel Private Limited - 0.00 26 Welspun Iron and Steel Private Limited (Formely Welspun Agro - 0.00 Ventures Private Limited 27 Welspun
    [Show full text]
  • Well on Track
    Well on track Annual Report FY 2017-18 Contents COMpaNY OVERVIEW 01-31 1 01 Well On Track 02 Innovation-driven leadership 04 Brand Portfolio 06 WIL’s products & solutions 08 Moments that we cherish 10 Extending reach globally 12 Chariman’s message 16 Financial performance 18 Priorities on track 22 Well on track to reinforce integrity 24 Well on track to strengthen brands 26 Well on track to craft fabulous innovation 28 Investing in talent management 30 Sustainability and community well being StatUTORY REPORts 32-89 Scan this code with a QR reader 2 32 Management Discussion and Analysis app on your smart phone or tablet 54 Director’s Report and know more about us 82 Corporate Governance Report FINANCIAL StateMENts 90-234 2017-18 Highlights 3 91 Standalone Financial Statements 159 Consolidated Financial Statements `61,318 Mn TOtaL INCOME `12,046 Mn EBITDA `3,850 Mn Profit After Tax (After Minority interest) `3.83 EPS Well on track We believe, leadership is all about questioning the status quo, navigating the next, setting new trends and moving beyond them. It is also about placing the customer and his/her aspirations at the heart of all strategy. Our decades-rich track record validates this corporate philosophy. We have always crafted new pathways of progress on the strength of innovation, refreshed brands strategy and early adoption of emerging technologies. During the year, we continued to expand our market presence, drive the innovation engine, strengthen our brands and elevate our operational benchmarks. Our agenda of talent development, community empowerment and sustainability also remained high on the radar.
    [Show full text]