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JSW-Infrastructure-Ltd 2019-20.Pdf HARBOURING GROWTH. BETTER EVERYDAY. India continues to be the world’s fifth largest economy on the strength of its fast-paced reforms, mammoth investment in infrastructure building and a huge population aspiring for a better quality of life. At JSW Infra, we have aligned our overarching objectives with the evolving aspirations of the nation, which is reflected in our dedication towards developing world-class infrastructure spanning aviation, marine, roadways, railways, inland waterways, water treatment plants, Special Economic Zones (SEZs) and other infrastructure facilities. Our focus continues to be on contributing to nation-building through the implementation of sustainable business practices, underpinned by strong corporate governance. Despite hardship in the operating environment, we are optimistic of India’s long-term growth potential and are committed to ‘harbouring growth’ by being better every day. STRATEGY IS UNLEASHED WHEN YOU HAVE A LEANING ORGANISATION WHERE PEOPLE THIRST TO DO EVERYTHING BETTER EVERY DAY. JACK WELCH Contents Corporate Overview Management Reports Financial Statements 4 About JSW Infrastructure 40 Management 102 Standalone 6 Our Ports Discussion and Analysis Financial Statements 60 Director's Report 168 Consolidated PERFORMANCE AND OUTLOOK 92 Corporate Financial Statements 14 Our Business Model Governance Report 16 Key Performance Indicators 18 Chairman’s Communiqué STRATEGIC PRIORITIES Feature stories 22 Strategic Priorities 24 One-stop Solution 26 Multi-faceted Growth 28 Sustainable Operations SUSTAINABLE GROWTH ENABLERS 32 Our People 36 Board of Directors 38 Awards A GLIMPSE INTO OUR GROWTH MULTI-FACETED GROWTH 39 Corporate Information ENABLERS 6 26 Forward-looking statement In this Annual Report, we have disclosed forward-looking information to enable the investors to comprehend our prospects and take informed 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 ‘anticipates’, ‘estimates’, ‘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 achievement of results is subject to risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, our actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. FY20 Performance highlights Standalone J336 CRORE J285 CRORE J229 CRORE GROSS TURNOVER NET TURNOVER EBITDA J161 CRORE J133 CRORE J132 CRORE PBT CASH PROFIT PAT Consolidated J1,349 CRORE J1,143 CRORE J713 CRORE GROSS TURNOVER NET TURNOVER EBITDA J234 CRORE J480 CRORE J197 CRORE PBT CASH PROFIT PAT CORPORATE OVERVIEW ABOUT JSW INFRASTRUCTURE Growing from strength to strength JSW Infrastructure Limited (JSWIL), one of the leading private infrastructure companies, belongs to the US$12 Billion JSW Group. Our seven state-of-the-art maritime facilities are a testament to our continued commitment to nation-building with best-in-class infrastructure. During the year, we continued to implement our coastal shipping strategy to strengthen India’s ports, roads and railways. Our focus on operational excellence and financial discipline, besides prudence, continue to enable us to grow sustainably. We operate environment-friendly seaports and terminals in India and UAE that offer mechanised and multi-cargo handling facilities to the customer. Our Indian ports offer excellent connectivity to the industrial backwoods of Maharashtra, Goa, 6 Karnataka in the west coast and Odisha in the east coast, by rail and road infrastructure. 2 3 Ports 1 1. JAIGARH, MAHARASHTRA 4 2. DHARAMTAR, MAHARASHTRA 5 3. PARADIP, ODISHA 4. MORMUGAO, GOA 5. MANGALORE, KARNATAKA 6. FUJAIRAH, UAE 4 STATUTORY REPORTS PG 40 FINANCIAL STATEMENTS PG 102 Establish state-of-the-art Ensure effectively infrastructural facilities mechanised operations in India Enhance port capacity of Vision 200 million tonnes Be the benchmark global per annum (MTPA) company in the area of through greenfield and 2022 operations brownfield expansions Be socially Be environment- sustainable friendly JSW INFRASTRUCTURE LIMITED | ANNUAL REPORT 2019-20 5 CORPORATE OVERVIEW OUR PORTS Our growth catalysts 6 STATUTORY REPORTS PG 40 FINANCIAL STATEMENTS PG 102 South West Port, Goa Incorporated in 1997, the South West Goa Port was our first operational port. The JSW Steel plant at Vijayanagar, Karnataka, relies heavily on this port for key logistical support. The terminal currently operates two bulk cargo berths at Mormugoa Port Trust at Goa, on a Build, Own, Operate and Transfer (BOOT) license agreement. Due to its strategic location, South West Port is crucial in maintaining low costs, while efficiently handling finished steel exports, along with coal and ore imports. 15 MTPA CAPACITY JSW INFRASTRUCTURE LIMITED | ANNUAL REPORT 2019-20 7 CORPORATE OVERVIEW OUR PORTS Jaigarh Port, Ratnagiri, Maharashtra Strategically located between Mumbai and Goa, our Jaigarh Port is Maharashtra’s first deep water port. Operational 24/7, Jaigarh is India’s first Floating Storage and Regasification Unit (FSRU) based LNG terminal at the port. The facility is accredited with ISO 9001:2008, 14001:2004 and OHSAS 18001:2007 certifications. It offers customised services for handling dry bulk, RoRo, liquid, container cargo and a range of support services. We are working towards building Jaigarh into one of the most mechanised and modern ports in India; making it the most preferred facility across Maharashtra and Karnataka. 45 MTPA 80 MTPA CAPACITY TARGET CAPACITY 8 STATUTORY REPORTS PG 40 FINANCIAL STATEMENTS PG 102 Dharamtar Port, Dolvi, Maharashtra An existing port and terminal at Dolvi in the Raigad District of Maharashtra, Dharamtar is located ~23 nautical miles (NM) away from Mumbai Harbour by sea route on river Amba. JSW Dharamtar Port is a riverine facility currently handling bulk cargo for the Group’s Dolvi and Kalmeshwar steel plants’ export-import requirements. 15 MTPA 34 MTPA CAPACITY TARGET CAPACITY JSW INFRASTRUCTURE LIMITED | ANNUAL REPORT 2019-20 9 CORPORATE OVERVIEW OUR PORTS Paradip Terminal (Iron Ore Berth), Paradip, Odisha The fully operational iron ore terminal is strategically located 210 nautical miles south of Kolkata and 260 nautical miles north of Vishakhapatnam. The Paradip Terminal has two ship loaders at the terminal, each with 7,000 tons capacity per hour. Additionally, its cargo storage yard is equipped with rotary and tandem wagon tipplers for faster rake unloading. 18 MTPA CAPACITY 10 STATUTORY REPORTS PG 40 FINANCIAL STATEMENTS PG 102 Paradip East Quay Coal Terminal, Paradip, Odisha Predominantly being developed for domestic and international movement of coal from Mahanadi Coalfields, the Paradip East Quay terminal will be operational by 2020, and will be able to accommodate large cape-sized vessels. It will further be equipped with a rail receiving station for bottom discharge wagons, transporting, stacking and reclaiming of cargo and loading for logistical movement. UNDER DEVELOPMENT 30 MTPA TARGET CAPACITY JSW INFRASTRUCTURE LIMITED | ANNUAL REPORT 2019-20 11 CORPORATE OVERVIEW OUR PORTS Fujairah Terminal, Fujairah, UAE Our first international agreement with Fujairah Sea Port Authority (POF) came into effect in FY17 for five years. We have been steadily achieving higher capacity utilisation at this facility since we began our operations. 24 MTPA CAPACITY 12 STATUTORY REPORTS PG 40 FINANCIAL STATEMENTS PG 102 Mangalore Container Terminal, Mangalore, Karnataka Situated at Panambur, Mangalore in Karnataka, our first container terminal, New Mangalore Port Trust is an all-weather lagoon type port. It has been growing at a CAGR of 15% since 2013, almost twice the growth rate of India’s container traffic growth (7.52%). With an envisioned investment of `300 Crore, this container terminal plays a key role in the development of southwestern region of India. 1.5 LAKH TEU 4.0 LAKH TEU CAPACITY TARGET CAPACITY JSW INFRASTRUCTURE LIMITED | ANNUAL REPORT 2019-20 13 PERFORMANCE AND OUTLOOK BUSINESS MODEL Anchoring long-term growth Capitals Human capital Natural capital Includes knowledge, skills, capabilities, experience, Includes natural resources such as air, water, energy, diversity and level of motivation of our employees. We are land and biodiversity, which are either utilised by us committed to providing them with an enabling ecosystem or impacted by our operations. We are striving to that takes care of their well-being, promotes innovative conserve natural resources and maintain sustainability in thinking and equips them with right developmental tools our operations. and trainings. Our policies and processes inspire them to realise their full potential, while giving them opportunities to evolve and grow. INPUTS › Total human capital: 405 employees › Focus on upskilling and reskilling of employees with effective learning and development › Regular engagement of employees through effective communication
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