Annual Report 2015-16

Total Page:16

File Type:pdf, Size:1020Kb

Annual Report 2015-16 ANNUAL REPORT 2015 -16 Contents 02 About VRL 04 Chairman's Statement 06 Financial Highlights 07 Strategies KPIs & Goals 08 Major Milestones 09 Review of Business Segments 13 Board of Directors 15 Corporate Social Responsibility 16 Awards & Events 17 Year on Year Growth 18 Company Information 19 Directors’ Report Management 47 Discussion and Analysis Report on 53 Corporate Governance 84 Financial Statements Vision To become the Premier Company that cuts across various segments and emerges as the torchbearer of each segment that it ventures into. Mission To provide the highest quality service to our customers by continuously increasing cost efficiency and maintaining delivery deadlines. To encourage our workforce to continuously strive for quality and excellence in everything they do. To promote team work and create work environment that encourages talent and brings out the best in our employees. Quality Policy We are committed to provide quality logistics services consistently at reasonable price and to continually improve the same to achieve customers delight on a sustainable basis. KA25 AA6371 KA25 AA6370 About VRL Established in 1976 by Dr. Vijay Sankeshwar, VRL Logistics (VRL) is one of the leading pan- India surface logistics and parcel delivery service provider. VRL is currently the largest fleet owner of commercial vehicles in India's private sector. The company mainly provides less than truckload services (LTL) for general and priority parcels and caters to a broad range of industries like FMCG, textiles, apparel, furniture, metal and metal products, automotive parts, etc. The company operates through a network of 1024 branches and franchisees and this network is complemented by 48 strategically located transhipment hubs. Other service verticals in the goods transportation space include full truck load (FTL), car carrying, priority cargo and courier services. VRL also provides luxury bus services across high density urban commuter cities like Bengaluru, Mumbai, Pune, Ahmedabad, Hyderabad and Panjim and also connect tier-II and tier- III cities. The VRL bus service network covers Karnataka, Maharashtra, Goa, Andhra Pradesh, Telengana, Tamil Nadu, Gujarat as well as Rajasthan. 02 KA25 KA25 AA6380 AA6379 KA25 AA6377 KA25 AA6378 KA25 AA6376 KA25 KA25 AA6374 AA6375 KA25 AA6373 KA25 AA6372 3872 381 48 19194 Trucks Buses Logistics Hubs Employees Key Advantages § Extensive network across the country with last mile delivery even in remote locations § Largest fleet of owned vehicles further complemented by outside vehicles § Integrated hub-and-spoke operating model which enables effective consolidation and distribution of consignments and transport various parcel sizes across the country § Optimal aggregation of LTL and FTL parcels to maximize asset utilization § Diverse customer mix of corporates, SMEs and smaller traders § Wide customer base with revenue from top 10 clients in goods transport business contributing 6.5% Only § Diversified Customer base from multiple industry sectors § Own body building and fleet maintenance facility at Hubballi § In House IT development § Own fuel stations at key locations and tie up with IOC § Own highway resting points/restaurant to facilitate VRL bus passengers § Sustainability and Social initiatives 03 Chairman's Statement Dear Shareholder focused on existing verticals and aim to increase freight tonnage in the goods transportation division as also improve occupancy levels in the VRL Logistics Limited has completed one year since bus operation segment. The company's top its successful listing. The year gone by presented management continues to engage extensively with many challenges and we had to work hard to the senior and middle level management of the overcome these. I take great delight on the company across India to guide and mentor these company crossing Rs.100 crores in net profits, a individuals as also set a tone for inclusive decision first in its history. making and the same has extensively benefited the The overall economy remained sluggish during the company in the past. Regaining the erstwhile year. Reality at the ground level is that the business business growth would be the focal point in all such volume across sectors struggles to sustain interactions. preceding levels. Our company has had a long GST would soon be a reality and after overcoming history of sustained growth even during similar t h e h i c c u p s a s s o c i a t e d w i t h t h e i n i t i a l tough times in the past. We managed to post a implementation this law will provide a big boost to nominal growth in the overall business volume but organized players in our industry. VRL today is GST remain satisfied that we have not compromised on ready and eagerly awaits the stabilization of the the quality of our business for the sake of growth. new GST regime. I am confident that the share of The erosion in margin was predominantly on Less than Truck Load (LTL) business would go up account of a significant increase in employee costs. post implementation. I hope however that this law We divided our business operations into metro, is implemented in right earnest and would actually mid sized cities and smaller towns and have affixed bring in the benefits being anticipated by my fellow a minimum salary scale for each of these to ensure transport brethren. I sincerely hope that the a decent pay package for our staff, especially the government would also play equal emphasis in lower level cadre and the same has resulted in speeding up the passage and implementation of salary correction. This is a one-time measure and I the impending Road Safety and Transport Bill. do not envisage something similar in the near Coupled with GST this would bring in a seamless medium term. movement of goods vehicles across the country, reducing transit times and bring in more economy On the capex front, we would continue to add to to the end users. The other developmental our fleet. Such fleet addition should not be linked schemes and initiatives being announced by the to the immediate performance but would be present government are also expected to fuel undertaken with a long term perspective. Addition growth in the days to come. of vehicles would reduce dependence on outside vehicles, ensure vehicle availability during festive At the Board level, the directors remain aware of seasons and peak periods, lead to better service their obligations to the business operations more levels as also would be necessary to remain specifically in respect of setting up internal controls compliant with environmental regulatory and ensuring that these continue to operate in a requirements in certain pockets of the country. I satisfactory manner. The Board is committed to am confident that we would complete the pending maintain the highest standards of Corporate utilization of IPO proceeds earmarked for fleet Governance and integrity. The Board also opines addition in the coming year. that more executive representation is warranted at the Board level and there could be some changes On the business front we will continue to remain on this front in the near future. 04 On the business front we will Lastly, I wholeheartedly complement all the employees of VRL for their continue to remain focused on individual contribution at all levels. I also thank all the stakeholders – existing verticals and aim to increase Bankers, Investors, Customers, Suppliers, Government authorities, freight tonnage in the goods Regulators and the management team including the Co-Directors on the Board for their continued association with VRL. I look forward to transportation division as also regaining our growth in the days to come. improve occupancy levels in the bus operation segment. The company's top management continues to engage extensively with the senior and middle level management of the company across India to guide and Sincerely, mentor these individuals as also set DR. VIJAY SANKESHWAR a tone for inclusive decision making and the same has extensively CHAIRMAN & MANAGING DIRECTOR benefited the company in the past. 05 Financial Highlights Turnover (` in Crores) EBITDA (` in Crores) 1729.43 1678.86 280.45 274.63 1503.78 1335.32 223.22 1135.28 205.05 196.81 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16 Networth (` in Crores) PAT (` in Crores) 102.31 513.54 91.22 80.29 356.19 306.39 289.41 57.01 41.05 152.73 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16 Debt/Equity Ratio RoACE - Post Tax (%) 3.2 20.8 18.6 17.0 14.6 13.3 1.7 1.6 1.2 0.5 FY12 FY13 FY14 FY15 FY16 FY12 FY13 FY14 FY15 FY16 06 Stratagies KPIs & Goals Achievements during Key Performance Strategies Future Plan the year Indicators (KPI) Consolidation of EBITDA at peak in The company has not Considering the EBITDA Bus Operations comparison with the past replaced the buses for achieved in the segment which the operating we will concentrate and permits have expired. On may be enhance the fleet account of this the size gradually company operated with in the coming days while lesser number of vehicles also strive to balance the and achieved better same with increased occupancy levels as well as occupancy level and better realization per improved realization per passenger. passenger. Adopted best practices in Usage of bio-diesel The company gained on Company will its operations for cost resulted in reduction of an average Rs. 4-5 per continuously concentrate saving. cost of Fuel as a litre when the bio-fuel to adopt the best percentage to the revenue. was used. During the year practices in its operations the 26.69% of the total through its own Owing to internal best fuel consumption was bio maintenance facility as practices, the company diesel. The same cannot well as through its was recognized as the be used throughout the Research and “Best practice adopter of year though.
Recommended publications
  • 0836 2256612 E-Mail : [email protected]
    Corporate Office : Giriraj Annexe Circuit House Road HUBBALLI - 580 O29 Karnataka State Phone : 0836 2237511 Fax : 0836 2256612 e-mail : [email protected] To, BSE Limited Nationa! Stock Exchange of lndia Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No.C/1, G-Block, Dalal Street Bandra - Kurla Complex, Bandra (E), Mumbai- 400 001 Mumbai-400 051 Dear Sir lMadam, Sub: Annual General Meeting (AGIvt) - Annual Report for F.Y. 2018-19, Notice of 36'h AGM and intimation of Record Date Annual Report 2018-19 and Notice of 36'h AGM: In accordance with Regulations 30 & 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the 36th Annual General Meeting of the Company would be held on Saturday, 1Otr August 2019 at04:00 p.m. at the Registered Office situated at RS No.3 jlll Varur, Post Chabbi, Taluk Hubballi, District Dharwad, Hubballi - 581 207 (18th KM, NH-4, Bengaluru Road, Varur), Kamataka. We enclose herewith the Annual Report for F.Y. 2018-19 alongwith Notice of 36'h Annual General Meeting. The said Annual Report alongwith the Notice, Proxy form, attendance slip and e-voting instructions are also available on the Company's website: www.vrlgroup.in Record Date: In accordance with Regulation 42 of SEBI (I,isting Obligations and Disclosure Requirements) Regulations,2015, Company has fixed Saturd&y,3'd August 2019 as the record date for determiningthe eligible shareholders for receipt of final dividend for the financial year ended 31"'March ZOl9. If approved at the AGM, the said dividend would be paid on or before 30s August 2019.
    [Show full text]
  • Annual Report 2014-15
    VRL LOGISTICS LIMITED OUR VISION To become the Premier Company that cuts across various segments and emerges as the torchbearer of each segment that it ventures into Hubballi VRL LOGISTICS LIMITED OUR MISSION To provide the highest quality service to our customers by continuously increasing cost efficiency and maintaining delivery deadlines. To encourage our workforce to continuously strive for quality and excellence in everything they do. To promote team work and create work environment that encourages talent and brings out the best in our employees. Head Office VRL LOGISTICS LIMITED QUALITY POLICY We are committed to provide quality logistics services consistently at reasonable price and to continously improve the same to achieve customer delight on a sustained basis. CONTENTS Company Information .................................................................3 Our Board Of Directors ...............................................................11 Chairman’s Message ..................................................................14 Overview Of Business .................................................................16 Directors’ Report .........................................................................21 Management Discussion And Analysis ......................................43 Auditor’s Certificate On Compliance Of Conditions Of Corporate Governance ..........................................................51 Report On Corporate Governance .............................................52 Independent Auditor’s Report ....................................................75
    [Show full text]
  • Annual Report 2019-20 CONTENTS
    OUR VISION To become the Premier Company that cuts across various segments and emerges as the torchbearer of each segment that it ventures into OUR MISSION To provide the highest quality service to our customers by continuously increasing cost efficiency and maintaining delivery deadlines. To encourage our workforce to continuously strive for quality and excellence in everything they do. To promote team work and create work environment that encourages talent and brings out the best in our employees. QUALITY POLICY We are committed to provide quality logistics services consistently at reasonable price and to continuously improve the same to achieve customer delight on a sustained basis. Hubballi Head Office VRL Logistics Limited 37th Annual Report 2019-20 CONTENTS Company Information .............................................................01 Chairman’s Message ..............................................................02 Notice ......................................................................................03 Directors’ Report .....................................................................28 Management Discussion And Analysis ..................................71 Business Responsibility Report ..............................................79 Report on Corporate Governance ..........................................87 Independent Auditor’s Report ..............................................116 Financial Statements.............................................................128 DISCLAIMER This Annual Report may contain
    [Show full text]
  • Ahmedabad Bus Station Time Table
    Ahmedabad Bus Station Time Table Is Sherlock misunderstood or gangliest when narcotised some dopants eyelets very? Stung and sinuous whichSylvester Gomer dimidiates is self-pleasing so left-handed enough? that Judah blasts his industrialists. Occultist and unpitiful Standford wears: Remember these are no by flight and fill your ac, volvo ac bus time table bus station the confirm password does the right direction From balasinor to ahmedabad bus station code here to reach bidar karnataka with ola share with paytm, damaged or egg food delivery services. About the stations between bangalore to reach bidar! Chouhan travels indore to ahmedabad bus time table schedule is ahmedabad bus station time table schedule and operators operate from reputed restaurants in! Guidelines for the comfort and india taxi nearby online at any tourism related organization depends on this map make it window and ahmedabad bus station time table bus station code here. List of time table app in a good timely service. Simply open our website before booking facilities nice bus station the ahmedabad on bhusawal bus in ahmedabad bus station time table. Book bus operator: bhusawal to school, paldi bus station time table for your mobile app will transform overnight if there for. Rajkot to reserving tickets online by gandhinagar and rail enthusiasts book train ticket booking bus station enquiry, limda chowk rajkot. Find trains is mars so be asked to pune every day out with hans travels is owned and planes to provide a solution in! Gsrtc operates ahmedabad route and time table, damaged or cities of confirmation. Below are available in ahmedabad can order to ahmedabad bus station time table.
    [Show full text]
  • A Study on Use of Logistics Management by Courier
    ISSN: 2277-9655 [Kumar * et al., 7(2): February, 2018] Impact Factor: 5.164 IC™ Value: 3.00 CODEN: IJESS7 IJESRT INTERNATIONAL JOURNAL OF ENGINEERING SCIENCES & RESEARCH TECHNOLOGY A STUDY ON USE OF LOGISTICS MANAGEMENT BY COURIER SERVICES IN INDIA G.Santosh Kumar, MBA, M.Phil* *Academic Consultant, Department of Business Management, University PG Centre: Kollapur, Palamuru University DOI: 10.5281/zenodo.1165734 ABSTRACT Logistics Management is being increasingly used in most of the sectors to get their routine works to be accomplished. The courier services companies in India are using the logistics Management practices to fulfill the promises made by them to the clients accurate, timely and faster as there is an increased relocation of people in India from one place to other and movement of goods not only this but due to rapid increase in the growth in the manufacturing, retail, Fast Moving Consumer Goods and e-commerce websites led to rapid development of courier services companies. This paper reveals about the companies engaged in courier service’s involved in pick up and delivering the goods from one place to other in India. Keywords: Logistics Management, courier services, goods, e-commerce, Supply Chain Management I. INTRODUCTION India by its size and diversity in terms of cultures, languages, geographical factors and development in technology is allied to a continent. The scope of people movement and the movement of goods is high in India. Indians are sensitive to quality of products and services. The products they purchase are world class and when the time comes for movement of these products, they need a company that understands the Indian sensitivity and the unique requirements of Indians based on their various cultural backgrounds.
    [Show full text]
  • Presentation Q4 19 20.Pdf
    VRL LOGISTICS LTD Corporate Office : Giriraj Annexe Circuit House Road HUBBALLI - 580029 Karnataka State Phone : 0836 223751 1 Fax : 0836 2256612 e-mail : [email protected] To, BSE Limited National Stock Exchange of lnd ia Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No.C/1, G-Block, DalalStreet Bandra - Kurla Complex, Bandra (E), Mumbai- 400 001 Mumbai - 400 051 Dear Sir / Madam, Sub: Submission of Earnings presentation Ref: Scrip Codes (BSE: 539118, NSE: VRLTOG) With respect to above captioned subiect and in accordance with the extant provisions of the sEBl (Listing obligations and Disclosure Requlrements) Re8ulations 2015 and other applicable laws for time being in force, we enclose herewith presentation the Earnings of the company which wourd arso be hosted on the website of our Company. We request you to kindly take note ofthe same Thanking you, Yours faithfully For VRI IIMITED IRUDDHA PHADNAVIS COMPANY SECRETARY AND FFICER Date: 20.06.2020 Place: Hubballi Corporate Office: Giriraj Annexe Circuit House Road HUBBALII - 580 029 Karnataka Phone: 0836 2237511 Fax : 0836 2256612 e-mail : headoffice@vrllog istics.com Customer Care : HUBBALLI @ 0836 - 2307800 e-mail : <[email protected] Website:www.vrllogistics.com CIN: 16021OKAt983PLC005247 GSTIN (KAR):29AABCV3609C1ZJ EARNINGS PRESENTATION VRL Financial Results - FY 2019-20 June 20, 2020 1 • Certain statements contained in this document may be statements of future expectations/forward looking statements that are based on management„s current view and assumptions and involve known and unknown risks and uncertainties that could cause actual results/performance or events to differ materially from those expressed or implied herein. • The information contained in this presentation has not been independently verified and no representation or warranty expressed or implied is made, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained herein.
    [Show full text]
  • Annual Report 2018-19 CONTENTS
    OUR VISION To become the Premier Company that cuts across various segments and emerges as the torchbearer of each segment that it ventures into OUR MISSION To provide the highest quality service to our customers by continuously increasing cost effi ciency and maintaining delivery deadlines. To encourage our workforce to continuously strive for quality and excellence in everything they do. To promote team work and create work environment that encourages talent and brings out the best in our employees. QUALITY POLICY We are committed to provide quality logistics services consistently at reasonable price and to continously improve the same to achieve customer delight on a sustained basis. Hubballi Head Offi ce VRL Logistics Limited 36th Annual Report 2018-19 CONTENTS Company Information .............................................................01 Chairman’s Message ..............................................................02 Notice ......................................................................................03 Directors’ Report .....................................................................21 Management Discussion And Analysis ..................................59 Business Responsibility Report ..............................................65 Report on Corporate Governance ..........................................73 Independent Auditor’s Report ..............................................102 Financial Statements.............................................................113 DISCLAIMER This Annual Report may contain
    [Show full text]
  • Earnings Presentation
    EARNINGS PRESENTATION VRL Financial Results - FY 2018-19 MAY 18, 2019 1 • Certain statements contained in this document may be statements of future expectations/forward looking statements that are based on management„s current view and assumptions and involve known and unknown risks and uncertainties that could cause actual results/performance or events to differ materially from those expressed or implied therein. •The information contained in this presentation has not been independently verified and no representation or warranty expressed or implied is made as to and no reliance should be placed on the fairness accuracy completeness or correctness of the information or opinions contained herein. •This presentation may contain certain forward looking statements within the meaning of applicable securities law and regulations. These statements include descriptions regarding the intent belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. Such forward-looking statements is not guarantee of future performance and involve risks and uncertainties and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company presently believes to be reasonable in light of its operating experience of recent years. Many factors could cause the actual results, performance or achievement of the Company to be materially different from any future results performance or achievement and significant factors that could make a difference to the Company‟s operations include domestic and international economic conditions changes in government regulations tax regime and other statutes • None of VRL Logistics Ltd or any of its affiliates advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its content or otherwise arising in connection with this document.
    [Show full text]
  • Annual Report 2020-21 VRL Logistics Limited
    VRL LOGISTICS LTD .IRT, Corporate offi(e : Gtiraj Annexe Circuit House Road HUBBALLI - 580 029 Karnataka Stare Phone : 0836 2237511 Fax I 0836 2256612 email : [email protected] To, BSE timited NationalStock Exchange of lndia Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No.C/1, G-Block, Dalal gandra Street Bandra - Kurle Coftplex, lE), Mumbai-400001 Mumbai-400 051 Scrip code:539118 Scrip code: VRI,LOG DearSir/Madam, Sub: Annual General Meeting (AGM) - Annual Report for F.y. 2O2O-21, Notice ot the 3gb Annual General Meeting and intimation of Record Date AnnualReport 2O2O-21and Notice or 38rh AGM: ln accordance with Regulations 30 & 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the 38rh Annual General Meeting of the Company would be held on Saturday, 7th August 2021 at 4:OO p.m. at the Registered Offi€e situated at RS No.3S1/1 Varur, Post Chabbi, Taluk Hubballi, District Dharwad, Hubballi - S81 207 (18th KM, NH-4, Bengaluru Road, Varur), Karnataka. We enclose herewith the Annual Report for F.y. 2020-21 alongwith Noti€e of the 38rh Annual General Meeting. The said Annual Report alongwith the Notice, proxy form, Attendance Slip and E-Voting instructions is also available on the Company's Website: www.vrlproup.rn Record Date: ln accordance with Regulation 42 of SEBI (tisting Obligations and Disclosure Requirements) Regulations, 2015, Company has fixed Saturday, 31'r July 2021 as the record date for determining the eligible shareholders for receipt of final dividend for the financial year ended 31'r March 2021.
    [Show full text]
  • Trade Rules in E-Commerce: WTO and India
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Mukherjee, Arpita; Kapoor, Avantika Working Paper Trade rules in e-commerce: WTO and India Working Paper, No. 354 Provided in Cooperation with: Indian Council for Research on International Economic Relations (ICRIER) Suggested Citation: Mukherjee, Arpita; Kapoor, Avantika (2018) : Trade rules in e-commerce: WTO and India, Working Paper, No. 354, Indian Council for Research on International Economic Relations (ICRIER), New Delhi This Version is available at: http://hdl.handle.net/10419/176381 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Working Paper No. 354 Trade Rules in E-commerce: WTO and India Arpita Mukherjee Avantika Kapoor March 2018 INDIAN COUNCIL FOR RESEARCH ON INTERNATIONAL ECONOMIC RELATIONS 1 Table of Contents List of Abbreviations ....................................................................................................................
    [Show full text]
  • Presentation Q4 2020-21
    VRL LOGISTICS LTD c ftaj ann€re . r.uir Noure Road HUESaLU, rao 029 h'nataka nare € mail headofi.e@vn oqisticrcoh Nallonar stek Ex.hanse .r rndi. rimhed Er.hahge Pra,a, Ptor No.c/r" c-Bto.L 8.ndE-Ku acompte&&ndE(E), sub: subnrssion o, Eahings presenration Ret t .jp cod€s IBSE: 539113, flsEJ wnh espect to abow cptioned subl.ct and in ac@dane wilh the errant provisionr of lhe srBt l-stn3 oh igdro4r and qequ.Fments)RABltarons oi*tosuF ?ots and dh.i.ppt..bte t {! for lime Llrh" n,.33 p'.snfron r orrhe conpany whtrh *outd a s be honed or the ft b5 te of ourcompany. we request you to kindly tate nde of the sare corporare ofli(e: GiriralArnexe cn.uit House Road HUBaA[t-5aoo29 Karnataka Phone 0336 221751 r Fax : 03162256612 e mai headoffke-dvrtooiti(.om CustonerCar€ | HUBBALLI r 0316 2lo7s0o ..mail : (ustom.r..re@vrttogBti(s,(om Webrite:www.vrll09isti.s.(om ClNr L602t0KAl933PLCoos247 GSITN (KAR) : r9AABCV3609Cr ZJ EARNINGS PRESENTATION VRL Financial Results - FY 2020-21 June 12, 2021 1 • Certain statements contained in this document may be statements of future expectations/forward looking statements that are based on management‗s current view and assumptions and involve known and unknown risks and uncertainties that could cause actual results/performance or events to differ materially from those expressed or implied herein. • The information contained in this presentation has not been independently verified and no representation or warranty expressed or implied is made, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained herein.
    [Show full text]
  • Vedanta Resources Limited Interim Results for the Six Months Ended 30 September 2020
    Vedanta Resources Limited 30 Berkeley Square London, W1J 6EX Tel: +44 (0) 20 7499 5900 Fax: +44 (0) 20 7491 8440 www.vedantaresources.com 29th December 2020 Vedanta Resources Limited Interim results for the six months ended 30 September 2020 Financial highlights ◼ Revenue for the period decreased by 20% to US$ 4,875 million (H1 FY2020: US$ 6,132 million). This was mainly driven by lower commodity prices, lower volumes at Zinc International, Oil & Gas, Aluminium and power business, partially offset by higher volumes at Zinc India business. ◼ EBITDA at US$ 1,440 million, up 3% y-o-y (H1 FY2020: US$ 1,395 million) ◼ Operating Profit before special items at US$ 0.9 billion, up 33% y-o-y (H1 FY2020: US$ 0.7 billion) primarily driven by lower input commodity price environment and lower depreciation charge partially offset by lower volumes amidst COVID disruption. ◼ Adjusted EBITDA margin2 of 34% (H1 FY2020: 26%) ◼ ROCE at 11.9% in H1 FY2021 (H1 FY2020: 9.4%) ◼ Profit after tax from continuing operation at US$ 78 million (H1 FY2020: US$ 310 million) primarily driven by higher tax expense, partially offset by lower depreciation and net interest cost. ◼ Consequent to the declaration of dividend (including from accumulated profits) by the subsidiaries, the unabsorbed depreciation as per tax laws have been utilized by the Company leading to a deferred tax charge of US$ 171 million in the half year ended 30 September 2020. ◼ The free cash flow (FCF) post-capex for the period was US$ (146) million (H1 FY2020: US $ 814 million). This was driven by working capital movements, capital expenditure and tax outflow.
    [Show full text]