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Annual Report 19-20 Breakthrough Growth

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Annual Report 19-20 Breakthrough Growth Effective leadership begins with a strong intention - to get things done 302 It all starts with Breakthrough Leadership Being part of the solution, not part of the problem, characterizes solution-driven leadership. For success, solution-driven leaders focus on the goals, not obstacles. They resist problem-oriented thinking. These leaders look to their team for answers. They have little time for excuses. Passion, innovation and determination guide their temperament while in the quest for desired results. They believe in a collaborative approach to find the way forward, which means teamwork, brainstorming, collective strategizing and thinking ‘why not’ to overcome the odds. In doing so, they achieve breakthrough growth. At SBICAP, our proven track record of delivering value to our clients with innovative ideas backed by unparalleled execution even during challenging times - is the result of our solution-driven leadership that inspires creativity and a ‘never give up’ attitude. That we are recognized for our astute professionalism while offering diversified financial advisory and investment banking services reaffirms our leadership position that breeds an open-minded approach to divergent thinking, new possibilities and new solutions. Our financial performance for FY 2019-20 is a reflection of this solution-driven leadership that has helped us to sustain our competitive edge, remain resilient and be responsive to change, thereby, delivering breakthrough growth. ANNUAL REPORT 2019 - 2020 1 VISION To be the best India based Investment Bank. MISSION To provide credible, professional and customer focused world-class investment banking services. Leaders put clarity into the big picture to unleash the drive of people 2 INDEX Board of Directors 05 Awards & Rankings 06 About Us 08 Project Advisory & Structured Finance Group (PA&SF) 10 Investment Banking Division (IBD) 13 Debt Capital Markets (DCM) 16 Our Subsidiaries 19 Corporate Social Responsibility (CSR) 22 Directors’ Report 23 Consolidated Financial Statements - Independent Auditors' Report 85 Consolidated Financial Statements - CAG Comments 95 Consolidated Balance Sheet 96 Consolidated Statement of Profit & Loss 98 Consolidated Cash Flow Statement 102 Notes to Consolidated Financial Statements 105 Standalone Financial Statements - Independent Auditors' Report 159 Standalone Financial Statements - CAG Comments 169 Standalone Balance Sheet 170 Standalone Statement of Profit & Loss 172 Standalone Cash Flow Statement 176 Notes to the Standalone Financial Statements 179 3 Breakthrough leaders lead people with involvement and engagement 4 Shri Rajnish Kumar Non-Executive Chairman OUR BOARD OF DIRECTORS Shri Dinesh Kumar Khara Smt. Bharati Rao Shri Narayan K. Seshadri Non-Executive Non-Executive Non-Executive Nominee Director Nominee Director Independent Director Shri T. L. Palani Kumar Shri Ananth Narayan G. Shri Sharad Sharma Non-Executive Non-Executive Non-Executive Director Independent Director Nominee Director Shri Arun Mehta Smt. Uma Shanmukhi Sistla Managing Director Whole-time & CEO Director ANNUAL REPORT 2019 - 2020 5 Breakthrough leaders raise standards to win accolades AWARDS & RANKINGS The Asset Triple A Asia Infrastructure Awards 2019 Project Finance House of the Year, India International Finance Awards 2019 Best Deal of the Year Best Project Advisory Oil and Gas (India) 2019 for India 2019 HPCL Rajasthan Refinery Ltd. The Asset Triple A Asia Infrastructure Country Deals Awards (South Asia) Utility Deal of the Year Petrochemical Deal of the Year Adani Transmission acquisition of Hindustan Urvarak & Rasayan Reliance Infrastructure Limited urea projects INR 158.295 billion Mumbai generation, transmission financing and distribution business The Asset Triple A Country Awards 2019 Best FIG bond: State Bank of India US$1.25 billion dual-tranche Best loan adviser senior notes - Bookrunner and lead manager Awarded the Skoch Governance Awards 2019 Gold category award for providing e-auction portal to Government of Gujarat 6 ANNUAL REPORT 2019 - 2020 Dealogic Ranked No. 1 - APAC India Loans MLA Ranked No. 1 - Global PFI/PPP Project (Market share 29.9%, Volume Finance Loans MLA (Market share USD 10967 Million) 10.1%, Volume USD 4696 Million) Ranked No. 1 - Global Infrastructure Ranked No. 1 - APAC Project Finance Project Finance MLA (Market share Loans MLA (Market share 10.8%, 7.9%, Volume USD 5760 Million) Volume USD 10725 Million) Ranked No. 3 - Global Project Ranked No. 1 - Asian Project Finance - Financial Adviser Finance Loans MLA (Market share (Market share 7.8%, 14.7%, Volume USD 10725 Million) Volume USD 9375 Million) Ranked No. 2 - Global PFI/PPP Ranked No. 1 - APAC Project Project Finance - Financial Adviser Finance by Financial Adviser (Market Share 14.3%, (Market share 23.2%, Volume USD 3477 Million) Volume USD 9375 Million) Ranked No. 2 - Global Infrastructure Project Finance - Financial Adviser (Market share 18.8%, Volume USD 5317 Million) Bloomberg League Tables Ranked No. 3 - APAC Project Ranked No. 1 - Indian Borrower Finance Loans (Mandated Lead Loans Mandated Lead Arranger with Arranger) with market share 5.974% 18.332% market share (USD 5769 Million) (Volume INR 495465 Million) Ranked No. 1 - Indian Borrower Local Currency Loans Mandated Lead Arranger with 33.049% market share (Volume INR 416060 Million) Refinitiv Ranked No. 1 - Asia Pacific & Japan Project Finance Loans Mandated Arranger (Market share 13.6%, Volume USD 11338 Million) Prime Database SBICAP was ranked 2nd by issue amount for IPO, OFS and Rights issues and 4th by number of issues in FY 2020 ANNUAL REPORT 2019 - 2020 7 Breakthrough leadership inspires people to align with the corporate vision ABOUT US SBI Capital Markets Limited (SBICAP), one of India’s leading domestic Investment Banks, began its operations in August 1986 and is a wholly owned subsidiary and investment banking arm of State Bank of India (SBI), the largest commercial bank in India. SBICAP offers the entire bouquet of investment banking and corporate advisory services. The service bouquet includes the full range of financial advisory services under one umbrella covering Project Advisory, Structured Debt Placement, Capital Markets, Mergers & Acquisitions, Private Equity and Stressed Assets Resolution. As a complete solutions provider to clients in investment banking and corporate advisory, SBICAP offers them advice, innovative ideas, and unparalleled execution across all stages in their business cycle ranging from venture capital advisory, project advisory, buy and sell-side advisory, accessing financial markets to raise capital and even restructuring advisory in their turnaround phases. SBICAP is a leader in the area of Project Advisory and has lent crucial support to the Indian infrastructure sector. The team of executives consists of qualified and dedicated professionals with vast experience in the fields of Project Advisory, M&A Advisory, Corporate Strategy or Business Restructuring Advisory, arranging of Private Equity / Structured Finance, Equity, Debt and Hybrid Capital raising. Headquartered in Mumbai, SBICAP has 5 regional offices across India (Ahmedabad, Chennai, Hyderabad, Kolkata and New Delhi) and 4 subsidiaries - SBICAP Securities Limited, SBICAP Trustee Company Limited, SBICAP Ventures Limited and SBICAP (Singapore) Limited. The regional offices are located strategically at major business hubs in the country and closely liaise with clients at these and nearby centres. SBICAP also offers services in the areas of Equity Broking & Research, Security Agency & Debenture Trusteeship and Private Equity Investment & Asset Management through its wholly-owned subsidiaries SBICAP Securities Limited, SBICAP Trustee Co. Ltd. and SBICAP Ventures Limited, respectively. 8 ANNUAL REPORT 2019 - 2020 'Obstacles are unrevealed opportunity' is an attitude cultivated by inspiring leadership ANNUAL REPORT 2019 - 2020 9 Breakthrough leadership encourages the team to embrace every challenge Project Advisory & Structured Finance Group (PA&SF) SBICAP is the market leader in providing financial advisory services to a large client base in various sectors with focus on Infrastructure sector and core industries. SBICAP’s Project Advisory & Structured Finance (PA&SF) Group provides the best-in-class services and excellence in execution of complex transactions across the advisory space in order to help the clients grow and achieve their strategic business objectives. The PA&SF Group has been a pioneer in advisory services in India with a comprehensive range of offerings covering the entire life cycle of projects. Its wide knowledge base makes it the foremost choice of the corporates as well as the government bodies for availing advisory services in infrastructure and core industries. PA&SF Group also provides services like M&A advisory, private equity tie-up, restructuring advisory, pre -bid advisory and bid process management services, Government advisory & policy services, Debt syndication services for Public Sector Units, Stressed asset Resolution advisory, etc. The PA&SF Group has also established itself firmly in the structured finance space by successfully structuring and executing some of the very complex transactions. The Group has a team of highly qualified professionals from diverse backgrounds with relevant experience and expertise in respective infrastructure and core subsectors of industries i.e. Energy, Transportation & Urban Infrastructure, Telecom, Aviation, Mining, Steel, Banking & Financial Services, etc. The group is actively engaged
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