Annual Report 2017-18
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KAMARAJAR PORT LIMITED (erstwhile Ennore Port Limited) (A Mini Ratna Government of India Undertaking under Ministry of Shipping) (CIN: U45203TN1999GOI043322) 18th ANNUAL REPORT 2017-18 18th Annual Report 2017 - 18 2 KAMARAJAR PORT LIMITED BOARD OF DIRECTORS (As on 16.08.2018) Shri P. RAVEENDRAN, IRTS Chairman-cum-Managing Director Shri RABINDRA KUMAR AGARWAL, IAS Smt. L. VICTORIA GOWRI Nominee Director, GoI Independent Director 18th Annual Report 2017 - 18 KAMARAJAR PORT LIMITED (A MINI RATNA GOVERNMENT OF INDIA UNDERTAKING) Board of Directors DIN Shri P. Raveendran, CMD & Nominee Director 07640613 Shri Rabindra Kumar Agarwal, Nominee Director 00365865 Smt. L. Victoria Gowri, Independent Director 07734561 Key Officials Registered Office Shri Sanjay Kumar, 2nd Floor (North Wing) & 3rd Floor General Manager (CS & BD) Jawahar Building, 17, Rajaji Salai, Shri M. Gunasekaran, Chennai - 600 001. General Manager (Finance) cum CFO Ph: 044 - 25251666-70 Fax : 044 - 25251665 Capt. A.K. Gupta, General Manager (Marine Services) Registrar & Share Transfer Agent Link Intime India Private Limited Shri V. Krishnasamy, C-101, 247 Park, L.B.S Marg General Manager (Operation) Vikhroli (West), Mumbai - 400 083. Shri P. Radhakrishnan, Ph : 022 - 49186000 Deputy General Manager (Civil) Fax : 022 - 49186060 Company Secretary Statutory Auditors Smt. Jayalakshmi Srinivasan M/s. R.K. Kumar & Co Chartered Accountants Debenture Trustees SBICAP Trustee Company Ltd Internal Auditors Apeejay House, 6th Floor, West Wing, M/s. Joseph & Rajaram 3, Dinshaw Wachha Road, Chartered Accountants Churchgate, Mumbai – 400 020. Ph : 022 - 43025555/ Fax : 022 - 22040465 Secretarial Auditors M/s. S. Dhanapal & Associates Catalyst Trusteeship Limited, Company Secretaries GDA House, Plot No.85, Bhusari Colony (Right), Bankers Paud Road, Pune – 411 038 Axis Bank Ph : 020 - 25280081/ Fax : 020 - 25280275 Andhra Bank State Bank of India Depositories Indian Bank National Securities Depository Limited Central Depositories Services (India) Limited 4 KAMARAJAR PORT LIMITED 2017-18 ab INDEX Sl.No. Contents Page No. 1 Notice 7 2 Boards’ Report 9 3 C & AG’s Report 45 4 Auditors’ Report 47 5 Balance Sheet 54 6 Profit & Loss Account 55 7 Cash Flow Statement 56 8 Notes 58 dc 5 18th Annual Report 2017 - 18 Vision “To develop Kamarajar Port as a Mega Port with world class facilities to become the Eastern Gateway Port of India.” Mission “To Provide Port Services of International Standards.” KAMARAJAR PORT LTD (A Mini Ratna Government of India Undertaking Under Ministry of Shipping) CIN: U45203TN1999GOI043322 Regd. Office: 2nd Floor (North wing) & 3rd Floor, Jawahar Building, 17, Rajaji Salai, Chennai - 600 001. Phone: 044 - 25251666 -70 Fax No: 044 - 25251665. Website: www.kamarajarport.in Email: [email protected] NOTICE NOTICE IS HEREBY GIVEN THAT the 18th 2. To confirm the payment of Interim Dividend and Annual General Meeting of Members of Kamarajar to declare Final Dividend on equity shares for the Port Limited will be held on Monday, the 24th day financial year 2017-18. of September 2018 at 11.00 a.m. at Board Room at SPECIAL BUSINESS the Registered Office of the Company, to transact the 3. To consider and if thought fit, to pass with or following business: without modification, the following resolution as ORDINARY BUSINESS an Ordinary Resolution: 1. To receive, consider and adopt the financial “RESOLVED THAT Shri Rabindra Kumar Agarwal (DIN 00365865) who was appointed as an statements of the Company for the year ended Ex-Officio Government Director of the Company st 31 March 2018, including the audited Balance by the Board w.e.f. 27.09.2017 in terms of Ministry Sheet as at 31st March, 2018, the Statement of of Shipping letter No. A-11013/11/98-P.E.II dtd Profit & Loss Account for the year ended on that 26th September 2001 and Letter No. EPL/19/20123- date and the reports of the Board of Directors’ and Pd-I dtd 21st September 2017, be and is hereby the Auditors’ thereon. appointed as Director of the Company, liable to retire by rotation.” By Order of the Board of Directors Place : Chennai (Jayalakshmi Srinivasan) Date : 16.08.2018 Company Secretary NOTES: a) A MEMBER ENTITLED TO ATTEND AND c) Members/Proxies/Authorised Representatives are VOTE AT THE MEETING IS ENTITLED requested to bring the attendance slip duly filled TO APPOINT A PROXY TO ATTEND AND and signed to the meeting. VOTE INSTEAD OF HIMSELF AND SUCH d) The relevant Explanatory Statement pursuant to PROXY NEED NOT BE A MEMBER OF THE COMPANY. THE PROXIES IN ORDER TO Section 102 of the Companies Act, 2013, in respect BE EFFECTIVE MUST BE RECEIVED BY of Item No. 3 is annexed hereto and forms a part of THE COMPANY NOT LESS THAN 48 HOURS this Notice. BEFORE THE MEETING. e) Members are requested to notify immediately any b) All documents referred to in the Notice are open for change of address. inspection at the Registered Office of the Company f) Brief Resume of the Director seeking appointment / on all working days, except Saturdays, Sundays re-appointment at this Annual General Meeting is and holidays, upto the date of the Annual General atached hereto and forms part of the notice. Meeting. 7 18th Annual Report 2017 - 18 EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT 2013 Item No. 3 Shri Rabindra Kumar Agarwal does not hold any shares in the Company and is deemed to be interested in Shri Rabindra Kumar Agarwal (DIN 00365865) was proposed resolution to the extent of his appointment as appointed as an Ex-Officio Government Director of the Director. No other Director or KMP and their relative is Company by the Board by way of circular resolution interested or concerned in the said resolution. w.e.f. 27.09.2017 in terms of Ministry of Shipping letter No. A-11013/11/98-P.E.II dated 26th September 2001 Pursuant to the Companies Act, 2013, as approval of the and Letter No. EPL/19/20123-Pd-I dtd 21st September members is to be obtained, the same is brought to the 2017. Shareholders. Directors recommend the resolution for Members approval. By Order of the Board of Directors Place : Chennai (Jayalakshmi Srinivasan) Date : 16.08.2018 Company Secretary BRIEF RESUME OF THE DIRECTORS SEEKING APPOINTMENT/ RE-APPOINTMENT AT THE 18th ANNUAL GENERAL MEETING Item No. 3 of Kerala. Presently, he is serving as Joint Secretary, Ministry of Shipping since 11.05.2015 till date. Shri Rabindra Kumar Agarwal (DIN No.00365865) is an IAS officer of 1997 batch from Kerala cadre. He holds He has undergone service training in Negotiating Graduate degree in Mathematics and Post Graduate Strategies and Public Private Partnership in Indian Degree in Operations Research from Delhi University. Institute of Management, Bangalore in the year 2007-08 He started his career as Sub-Divisional Magistrate in the and attended Mid Career Programme for IAS Officers - year 1999 and became Additional Director in Tourism Phase IV in the year 2012 in Lal Bahadur Shastri National Department of Kerala in the year 2001. He was also Academy of Administration (LBSNAA) Mussoorie. the Managing Director of Bekal Resorts Development During 2013-14, he successfully completed a graduate Corporation for some time. He has worked in various level course ‘Masters in International Development capacities in Urban Administration and Development Policy’ from Duke University, North Carolina, USA. Department, Social Welfare Department, Finance and Water Resources Department. He also served as Shri Rabindra Kumar Agarwal (DIN No: 00365865) is Commissioner, Commercial Taxes Department in not related to any of the Directors and Key Managerial Kerala and Secretary, Finance Resources, Government Personnel of the Company. 8 BOARDS’ REPORT To to Ennore Coal Port Project (ECPP) under Breakwater. The Members, The decrease in Exceptional items was mainly due to Kamarajar Port Limited accounting of Rs.66.60 crores towards Augmentation charges in the year 2016-17 which was one time income. Your Directors have the pleasure of presenting the 18th Consequently, your Company has achieved Profit Before Annual Report on the performance of your Company Tax (PBT) and Profit After Tax (PAT) of Rs.423.58 for the financial year ended 31st March 2018 along Crores and Rs.394.18 crores respectively during the year with Audited Statements of Accounts, Auditor’s Report as against Rs.480.09 Crores and Rs.472.40 crores in & review of accounts by the Comptroller and Auditor 2016-17. General of India. 3.0 DIVIDEND 1.0 FINANCIAL HIGHLIGHTS 3.1 Interim Dividend Current Previous Financial Financial During the year, Board of Directors in their meeting Particulars Year Year th 2017-18 2016-17 held on 16 February 2018, had recommended, an (Rs. in crores) (Rs. in crores) interim dividend @ 15% of paid up equity share capital Income from services 630.98 620.14 absorbing an amount of Rs.45.00 crores (Rs.1.50 per Other Income 7.31 20.36 share). The distribution of interim dividend along with Total Income 638.29 640.50 dividend distribution tax and surcharge thereon absorbed Operating Expenses 127.04 127.31 an amount of Rs.54.16 crores. Your Company has paid Finance Costs 63.76 77.81 an Interim Dividend and remitted Dividend Distribution Depreciation and Amortization 30.39 21.89 Tax on 26th February 2018. Total Expenses 221.19 227.01 Profit Before Extraordinary 417.10 413.49 3.2 Final Dividend & Exceptional Items As per Ministry of Finance guideline vide No. Exceptional Items (-) 6.48 66.60 F.No.5/2/2016 – Policy dated 27th May, 2016, “every Extraordinary Items - - Profit Before Tax 423.58 480.09 CPSE would pay a minimum annual dividend of 30% of Taxes 29.40 7.69 PAT or 5% of the Net-worth, whichever is higher subject Profit After Tax 394.18 472.40 to the maximum dividend permitted under the extant Other Comprehensive Income 0.07 (19.65) legal provisions”.