DOCSLIB.ORG

India Daily, July 24, 2014

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
India Daily, July 24, 2014 INDIA DAILY July 24, 2014 India 23-Jul 1-day1-mo 3-mo Sensex 26,147 0.5 4.5 14.3 Nifty 7,796 0.4 4.0 14.0 Contents Global/Regional indices Daily Alerts Dow Jones 17,087 (0.2) 0.9 3.5 Nasdaq Composite 4,474 0.4 2.4 8.4 Results FTSE 6,798 0.0 (0.0) 1.8 Cairn India: Low on cash Nikkei 15,352 0.2 (0.2) 6.6 Hang Seng 23,972 0.8 4.8 6.2 ABB: Steady, below-par performance KOSPI 2,029 0.0 1.7 1.5 Value traded – India L&T Finance Holdings: Shifting segments, chasing growth Cash (NSE+BSE) 191 194 211 Thermax: Weak 1QFY15; demand recovery expectations deferred Derivatives (NSE) 2,383 2,753 3,286 Deri. open interest 2,200 2,162 1,896 Results, Change in Reco YES Bank: The comfort of capital; upgrade to ADD JSW Energy: Lower realizations, despite liquidation of banked energy Forex/money market Change, basis points 23-Jul 1-day 1-mo 3-mo Company Rs/US$ 60.0 (1) (23) (113) Exide Industries: Four-wheeler replacement segment still weak; maintain 10yr govt bond, % 8.8 - (8) (43) REDUCE Net investment (US$mn) 22-Jul MTD CYTD Rallis India: Not to worry on lackluster 1QFY15 for Metahelix FIIs 62 1,996 11,913 MFs 48 329 (819) Top movers Change, % Best performers 23-Jul 1-day 1-mo 3-mo UT IN Equity 27.5 5.2 (20.4) 66.7 BHFC IN Equity 694.5 (2.0) 18.8 62.2 RCAPT IN Equity 590.1 (1.2) (8.0) 59.1 SSLT IN Equity 295.6 (0.6) (1.0) 53.5 UPLL IN Equity 319.2 (1.5) 0.4 48.7 Worst performers UNSP IN Equity 2392.0 0.2 (8.3) (15.1) UBBL IN Equity 718.4 (0.7) 3.2 (10.2) CAIR IN Equity 345.6 0.7 (7.3) (1.9) ACEM IN Equity 215.9 (3.2) (3.2) (1.3) ITC IN Equity 353.7 0.2 10.3 0.1 For Private Circulation Only. FOR IMPORTANT INFORMATION ABOUT KOTAK SECURITIES’ RATING SYSTEM AND OTHER DISCLOSURES. REFER TO THE END OF THIS MATERIAL. REDUCE Cairn India (CAIR) Energy JULY 24, 2014 RESULT Coverage view: Neutral Low on cash. We see the related-party loan facility of US$1.25 bn extended by Cairn Price (Rs): 346 India to a subsidiary of Sesa Sterlite as a significant negative, as it warrants concern on Target price (Rs): 330 effective utilization of existing cash/equivalents and future cashflows of the company, BSE-30: 26,147 notwithstanding the near-term economic rationale indicated by the management. We retain our REDUCE rating on Cairn India stock with a revised DCF-based TP of `330 (`355 previously), factoring in risks to cash utilization through higher cost of equity. Company data and valuation summary Cairn india Stock data Forecasts/Valuations 2014 2015E 2016E 52-week range (Rs) (high,low)386-287 EPS (Rs) 65.2 55.3 48.2 Market Cap. (Rs bn) 659.2 EPS growth (%) 4.4 (15.1) (12.8) QUICK NUMBERS Shareholding pattern (%) P/E (X) 5.3 6.2 7.2 Promoters 58.9 Sales (Rs bn) 243.6 192.0 191.3 • US$4 bn of FIIs 17.8 Net profits (Rs bn) 124.3 103.7 90.4 cash/equivalents, MFs 0.8 EBITDA (Rs bn) 156.0 147.6 136.9 investments and Price performance (%) 1M 3M 12M EV/EBITDA (X) 3.8 4.3 4.6 loans as of June 30, Absolute (7.8) (1.9) 11.5 ROE (%) 23.4 14.4 13.6 2014 Rel. to BSE-30 (11.7) (14.2) (13.5) Div. Yield (%) 3.7 3.5 3.5 • `804 bn of gross US$1.25 bn of loan facility extended by Cairn India to a subsidiary of Sesa Sterlite for two years borrowings in Sesa Cairn India has extended US$1.25 bn of loan facility at an interest rate of 3% above LIBOR to a Sterlite as of March subsidiary of Sesa Sterlite for two years, backed by a corporate guarantee from Vedanta Resources 31, 2014 PLC. The company has disbursed an amount of US$800 mn till date and is planning to provide the remaining US$450 mn in the near term. We note that the company has taken the necessary • 1.4 bn boe of 2P + approvals for extending this facility from the Board and Audit Committee, in which the related 2C reserves and parties were not allowed to vote. However, the related-party loan facility is worrying in light of resources, including large debt levels of Sesa Sterlite (see Exhibit 1), in our view. The management indicated that the 1.2 bn boe from yield on the related-party loan is better than other investment instruments in consideration. Rajasthan block The management ruled out the option of returning surplus cash to shareholders in the form of higher dividends, as the company may require the given amount for capex on development of new discoveries from FY2017 onwards, by which time the loan will be repaid to the company. In-line EBITDA and net income in 1QFY15 Cairn India reported 1QFY15 EBITDA and net income (excluding exception item) in line with our estimates at `33.1 bn (-14% qoq) and `27.2 bn (-10.4% qoq) respectively, as lower-than- expected revenues and higher DD&A expenses were offset by lower operating costs and higher other income. Reported net income of `10.9 bn included an exceptional item of `16.3 bn pertaining to impact from retrospective change in accounting of depreciation. Gross production from Rajasthan block declined 4% qoq to 183.2 kboe/d. Crude price realization for Rajasthan block increased 2.7% qoq to US$97.5/bbl, at 11% discount to Dated Brent. Retain REDUCE; fine-tune estimates We retain our REDUCE rating on the stock with a revised DCF-based target price of `330 (`355 previously); the reduction in target price reflects increase in WACC to 12% from 11%, to factor in concerns on effective utilization of cash. We revise our FY2015-17E EPS to `55.3 (+1.3%), `48.2 (-3.1%) and `36.4 (-7.4%) to reflect (1) 1QFY15 results, (2) higher DD&A charges and (3) other minor changes. For private Circulation Only. FOR IMPORTANT INFORMATION ABOUT KOTAK SECURITIES’ RATING SYSTEM AND OTHER DISCLOSURES, REFER TO THE END OF THIS MATERIAL. Cairn India Energy Exhibit 1: Sesa Sterlite has large debt on its balance sheet Details of borrowings of Sesa Sterlite, March fiscal year-end, 2014 (` mn) Long term borrowings Rate of Interest NCD - Vedanta Aluminum 2,667 11.5% NCD - SIL (relates to SEL) 20,000 9.3% NCD - SIL (relates to SEL) 25,000 9.1% NCD - SIL (relates to VAL) 12,000 9.2% NCD - Balco 3,333 12.3% NCD - Balco 5,000 8.6% Talwandi Sabo 15,000 9.8% VGCB 3,000 9.0% Term loans VAL (SBI loan) 96,133 11.8% VAL (Axis bank) 18,000 10.5% SEL (2400 MW) 4,000 11.2% TMHL (Cairn India) 72,120 Libor + 275 bps ECB's VAL 32,728 Libor + 400 bps Balco 12,020 Libor + 260 bps Balco 1,002 Libor + 345 bps VAL (current maturity) 1,503 Libor + 240 bps Buyer's credit VAL 557 Libor + 200 bps VGCB 941 Libor + 224 bps Talwandi Sabo 13,598 Libor + 190 bps Balco 1,003 Libor + 200 bps Balco 5,556 Libor + 160 bps Talwandi Sabo 8,023 Libor + 173 bps FCCB's 30,050 4.0% FCCB's 13,030 5.0% Loan from Vedanta Resources Jersey Ltd. 234,016 7.9% Sub total 630,279 Short term borrowings Buyer's credit from banks Jharsuguda Aluminum 17,408 Libor + 200 bps Copper India 32,788 0.9% SEL 2400 MW 325 Balco 2,629 TSPL 2,885 Libor + 76 bps VGCB 26 2.2% Cash credit 30 Cash credit 675 Working capital loan - Balco 366 Export packing credit 490 10.0% Term loan SEL 2400 MW Term loan 10,000 10.5% Others 106,325 Sub total 173,945 Total borrowings 804,224 Source: Company, Kotak Institutional Equities KOTAK INSTITUTIONAL EQUITIES RESEARCH 3 Energy Cairn India Details of 1QFY15 results Exhibit 2 gives highlights of Cairn’s 1QFY15 results and compares the same with 4QFY14 and 1QFY14. Exhibit 3 gives production from various fields. We discuss the key highlights below. Exhibit 2: Interim results of Cairn India (` mn) (% chg.) 1QFY15 1QFY15E 1QFY14 4QFY14 1QFY15E 1QFY14 4QFY14 FY2014 FY2013 (% chg.) FY2015E Income from operations 44,829 46,281 40,629 50,489 (3.1) 10.3 (11.2) 187,617 175,241 7.1 180,805 Total expenditure (11,758) (12,652) (10,531) (12,050) (7.1) 11.7 (2.4) (46,636) (40,361) 15.5 (48,789) Inc/(Dec) in stock 16 32 56 141 274 — Operating expenses (3,298) (3,667) (2,404) (3,448) (10.1) 37.2 (4.4) (11,741) (8,511) 38.0 (14,240) Staff cost (404) (388) (143) (474) 4.2 183.2 (14.9) (2,741) (1,033) 165.4 (1,750) Government taxes (7,292) (7,612) (7,123) (6,835) (4.2) 2.4 6.7 (28,986) (28,077) 3.2 (29,628) Other expenditure (780) (985) (893) (1,349) (20.8) (12.7) (42.2) (3,309) (3,015) 9.7 (3,171) EBITDA 33,070 33,629 30,099 38,439 (1.7) 9.9 (14.0) 140,981 134,880 4.5 132,016 Other income 5,173 3,183 8,071 1,639 62.5 (35.9) 215.5 15,027 10,363 45.0 15,581 Interest (17) (88) (105) (109) (81.1) (84.2) (84.8) (415) (687) (39.6) (350) Exploration costs written off (2,546) (1,625) (1,001) (1,608) 56.7 154.4 58.4 (4,124) (4,549) (9.3) (10,250) DD&A (7,198) (6,294) (5,193) (6,367) 14.4 38.6 13.1 (22,974) (18,459) 24.5 (28,230) Pretax profits 28,482 28,806 31,871 31,995 (1.1) (10.6) (11.0) 128,496 121,548 5.7 108,768 Extraordinaries (16,274) — — — — 1,367 (16,274) Tax — (1,498) (391) (64) (1,463) (2,986) (4,732) Deferred taxation (1,279) — (208) (1,577) (2,715) 636 (350) Net income 10,929 27,308 31,272 30,354 (60.0) (65.1) (64.0) 124,318 120,564 3.1 87,412 Adjusted net income 27,203 27,308 31,272 30,354 (0.4) (13.0) (10.4) 124,318 119,197 4.3 103,686 Adjusted EPS (Rs) 14.5 14.6 16.4 15.9 65.2 62.4 55.3 Income tax rate (%) 4.5 5.2 1.9 5.1 3.3 1.9 5.5 Production, selling price data Production volume, gross ('000 boepd) 217.9 220.8 212.4 224.4 (1.3) 2.6 (2.9) 218.7 205.3 6.5 216.0 Production volume, net ('000 boepd) 137.9 139.2 132.1 142.8 (0.9) 4.4 (3.4) 137.1 127.8 7.3 136.0 Rajasthan oil 127.3 129.5 121.0 132.5 (1.7) 5.2 (3.9) 126.2 118.6 6.5 126.0 CB-OS-2 4.3 3.8 4.3 3.7 12.9 0.9 15.5 3.9 2.7 43.7 4.4 Oil 3.4 2.9 3.4 2.9 14.2 (1.8) 14.5 3.1 1.8 70.6 3.4 Gas (mn cf/d) 5.6 4.7 5.2 4.8 19.0 7.7 16.7 4.8 5.2 (7.7) 5.3 Ravva 5.4 5.9 6.4 5.5 (8.7) (15.3) (1.2) 6.2 6.6 (6.1) 5.6 Oil 4.4 4.6 4.9 4.2 (3.5) (10.6) 3.7 4.8 4.9 (2.4) 4.4 Gas (mn cf/d) 5.9 7.3 8.6 7.2 (19.8) (31.6)
Load more

Recommended publications
  • Transforming from a Responsible Manager to a Successful Entrepreneur
    REPORT OF TWO WEEKS FACULTY DEVELOPMENT PROGRAM ON Transforming from a Responsible Manager to a Successful Entrepreneur Organised by Entrepreneurship Development Cell Shri Madhwa Vadiraja Institute of Technology and Management, Bantakal, Udupi From 12th to 24th December 2016 In association with NSTEDB, Department of Science & Technology (Govt. of India, New Delhi) Entrepreneurship Development Institute of India, Ahmadabad & Science & Technology Entrepreneurs Park (STEP) - NITK-Suratkal Overview of Faculty Development Program (FDP) The FDP was organized by Entrepreneurship Development Cell (EDC) of Shri Madhwa Vadiraja Institute of Technology and Management, Bantakal, Udupi from 12th to 24th December 2016. The FDP was basically planned to create awareness among the faculties about entrepreneurship and to facilitate them with entrepreneurial mindset to motivate the students and to create entrepreneurial culture. Throughout the program all the resource persons have stressed upon various qualities of an entrepreneur and these qualities were highlighted by conducting some exercises, activities and questionnaires. Prerequisites to start any enterprise were explained by all the resource persons and empowerment of the enterprise during its budding stage by financial institutions was conveyed to the participants. On the other hand preparation of business plan and its evaluation, financial aspects of the same was communicated. Importance of Achievement motivation model was stated and human behavior based on positive and negative thoughts was highlighted in the program. Various challenges faced by entrepreneurs and businessman in the present scenario were addressed and solutions to some of them was conveyed in the program. Concepts of leadership, communication skills, problem solving, decision making, time management, marketing, and disaster management was covered.
    [Show full text]
  • Sustainability Report 2015-16
    SUSTAINABILITY REPORT 2015-16 1 The Quest For A Brighter Tomorrow Contents For over a decade, Adani Power Consequently, showcasing greater The Lighthouse has energised India and fuelled transparency, setting higher 2 (CEO Speaks) development across the nation. standards of accountability and About the Report As India’s largest private power developing newer ways to operate 6 producer, we are conscious of the responsibly, are integral to our (From the CSO’s Desk) impact we have on the country’s growth. At the heart of our goals is a progress and the day-to-day lives deep commitment to the happiness Our Story 9 of our fellow citizens. This not only of our employees and stakeholders. makes us proud but also helps shape We consistently strive to ensure a Mapping the Quest 13 a brighter tomorrow. healthy and sustainable collaboration that contributes to rapid and Organisational Scale 15 In a multi-faceted, challenging and responsible national development. increasingly interconnected world, it Significant Developments in 16 is imperative to balance the impact Considering this, we have developed FY 2015-16 of business activities. Flourishing our second Sustainability Report Stakeholder Engagement & in such a climate requires focus, around the idea of a bigger, better 23 dedication, tenacity and awareness. and brighter tomorrow. ‘QUEST’ Materiality Assessment Our understanding and respect for is a part of our journey towards 31 the environment we operate in, excellence. The term ‘QUEST’ stands Strategy for Sustainability pushes us towards a quest for the for ‘Quality, Environment Protection socio-economic well-being of the & Energy Conservation, Safety and Governance for Sustainability 35 habitat and communities we occupy.
    [Show full text]
  • Master Plan for New Mangalore Port
    Master Plan Report – Final August 2016 MASTER PLAN FOR NEW MANGALORE PORT Master Plan for New Mangalore Port Prepared for Ministry of Shipping / Indian Ports Association Transport Bhawan, 1st Floor, South Tower, NBCC Place Sansad Marg, B. P Marg, Lodi Road New Delhi,110001 New Delhi - 110 003 www.shipping.nic.in www.ipa.nic.in Prepared by AECOM India Private Limited, 9th Floor, Infinity Tower C, DLF Cyber City, DLF Phase II, Gurgaon, Haryana, India, Pin 122002, India Telephone: +91 124 4830100, Fax: +91 124 4830108 www.aecom.com August 2016 © AECOM India Private Limited 2016 This document has been prepared by AECOM India Private Limited for the sole use of our client (the “Client”) and in accordance with generally accepted consultancy principles, the budget for fees and the terms of reference agreed between AECOM India Private Limited and the Client. Any information provided by third parties and referred to herein has not been checked or verified by AECOM India Private Limited, unless otherwise expressly stated in the document. No third party may rely upon this document without the prior and express written agreement of AECOM India Private Limited. All rights reserved. No section or elem ent of this document may be rem oved from this document, reproduced, electronically stored or transmitted in any form without the written permission of AECOM India Private Limited. Quality Information Client: Ministry of Shipping / Indian Ports Association Contract No. (if any): NA Project Title: SAGARMALA: Master Plan for New Mangalore Port Project No.: DELD15005 Document No: DELD15005-REP-0000-CP-1013 Controlled Copy No: SharePoint Ref: Document Title: Master Plan for New Mangalore Port Covering Letter/ Transmittal Ref.
    [Show full text]
  • Growth with Goodness
    Adani Power Limited Growth with Goodness Annual Report 2017-18 VISION STATEMENT To be a world class leader in businesses that enrich lives and contribute to nations in building infrastructure through sustainable value creation. Contents Corporate Overview Financial Statements About Adani Group 002 Independent Auditors Report 091 Knowing Adani Power 003 Balance Sheet 098 Portfolio Highlight 004 Statement of Profit and Loss 099 Chairman’s Message 006 Statement of Cash Flow 102 Snapshot of the Company 009 Notes to Financial Statement 104 CSR Activities 010 Independent Auditors Report on Consolidates Corporate Information 021 Financial Statement 150 Consolidated Balance Sheet 156 Statutory Reports Consolidated Statement of Profit and Loss 157 Directors’ Report 022 Consolidated Cash Flow Management Discussion Statement 160 and Analysis Report 049 Notes to Consolidated Scan this code with a QR reader app on your Corporate Financial Statements 162 Governance Report 058 smartphone or tablet and know more about us Salient Features of the Business Financial Statements of Responsibility Report 077 Subsidiaries / Associate / Joint Ventures 211 Notice 212 www.adanipower.com Growth with Goodness. Scale, to us, is not about the businesses we are in. Scale is about the real influence and change we can spur. It’s about the lives we can touch, the communities we can nourish, the businesses we can propel, and the future we can inspire. Because, scale leads to growth; and with consistent growth comes incredible goodness. With the size of our operations in multiple nation-critical sectors, we have been fortunate enough to reach out more and spread this goodness, regardless of the geography.
    [Show full text]
  • Investor Presentation
    Lanco Infratech EPC POWER SOLAR NATURAL INFRASTRUCTURE RESOURCES Investor Presentation ©© LANCO LANCO Group, Group, All All Rights Rights Reserved Reserved Agenda 1 Company Overview 2 Industry Overview 3 Power Business 4 EPC Business 5 Solar Business 6 Natural Resource Business 7 Infrastructure Business 8 Property Development Business 9 Financials 10 Experienced Management Team 2 © LANCO Group, All Rights Reserved 1. Mission, Vision and Values Mission: Development of Society through Leadership, Entrepreneurship, Ownership Vision: Most Admired Integrated Infrastructure Enterprise Values: Integrity Continuous Humility & Respect Learning Organization Teamwork before Self Achievement Drive Accountability Positive Attitude 3 © LANCO Group, All Rights Reserved 1. India’s largest Integrated Power Developer • Listed Holdco of the group Lanco DivisionInfratech of Lanco Limited Infratech (LITL) • Promoters Holding ~ 72.31% Divisions: EPC Construction • Adj. Net Worth US $1,500 mm (including Minority) Subsidiaries / Affiliates Power Solar Natural Resources Infrastructure Property Development • All businesses of the group are under LITL • Total Employee Strength of 7,800 out of which 520 are based abroad • Power projects of 9,368 MW in 12 states of India (4,480 MW under operation & 4,888 under construction) 4 © LANCO Group, All Rights Reserved 2. Strong Push to Drive Infrastructure Growth Expenditure on Infrastructure is required to keep growth momentum of Indian economy 160 157 120 Total - US$437bn 12th Five Year Plan ~ 80 79 expected target 76 GW. 68 65 55 (US$bn) 40 51 19 9 6 5 0 Ports Gas Power Airports Storage Telecom Railways Irrigation Water/ sanitation Roads andInfrastructure Bridges spending (2007-2012) Central Govt. State Govt. Private sector Source: CEA Source: Planning commission (XIth five year plan) Power Capacity Growth (GW) In BRIC countries, India’s per capita consumption lowest.
    [Show full text]
  • Thinking Big Doing Better Adani Power Limited Annual Report 2016-17
    Thinking Big Doing Better Adani Power Limited Annual Report 2016-17 At 10,440 MW, Adani Power Limited owns and operates India’s largest thermal power capacity in the private sector. Some of the Company’s large and modern power plant assets include the 4,620 MW power plant in Mundra, which is the largest single-location private coal-based power plant in the world, the 3,300 MW Tiroda power plant, the 1,320 MW Kawai power plant and the 1,200 MW Udupi power plant. With an economic growth that is primed to be among the fastest in the world, India’s growing requirement for power is unquestionable. With the aspiration to ‘Think Big, Do Better’, Adani Power has a well-articulated growth plan to increase power capacity to 20,000 MW by 2020 and contribute to the country’s growth and progress. Adani Power is a part of the USD 12 billion Adani Group, which has interests in resources, logistics and energy. One vision, one brand As part of preparing the Adani Group for the next phase of our growth, we have re-formulated our 2020 vision: To be the globally-admired leader in integrated infrastructure businesses with a deep commitment to nation-building. We shall be known for the scale of our ambition, speed of execution and quality of operation. Our values Courage: We shall embrace new ideas and businesses. Trust: We shall believe in our employees and other stakeholders. Commitment: We shall stand by our promises and adhere to high standards of business. Our culture Passion: Performance with enthusiasm and energy Results: Integration: Dedication: Consistently Working across Working with achieving goals functions and commitment in businesses to the pursuit of create synergies our aims Entrepreneurship: Seizing new opportunities with initiative and ownership Resources Dhamra Port in Odisha, Mormugao Terminal in Goa and Vizag Terminal The resources business deals with in Andhra Pradesh.
    [Show full text]
  • India's Premier Maritime Business Magazine Andhra Pradesh
    India’s premier maritime business magazine `100 AUGUST 2014 WWW.MARITIMEGATEWAY.COM RNI NO: APENG/2009/30633 POSTAL REGISTRATION NO: LII/RNP/HD/1137/2013-15 ‘We expect to do well with DATE OF PUBLICATION: 26/07/2014 all the positivity around us’ Capt BVJK Sharma JMD & CEO, JSW Infrastructure andhra pradesh SUNRISE AFTER BIFURCATION,STATE THE NEWLY CARVED STATE OF ANDHRA PRADESH SAILS ON A HOPE TO BOOST THE ECONOMY BY DEVELOPING THE COAST LINE INTO A MAJOR MARITIME HUB. INDUSTRIAL CORRIDORS FROM VIZAG TO CHENNAI WILL LINK THE PORT CITIES FUELLING GROWTH. IN ADDITION, MANUFACTURING AND INDUSTRIAL CLUSTERS BEING PLANNED WILL HELP THE STATE AUGMENT EXPORTS AND IMPROVE ITS FISCAL HEALTH. 02 maritime gateway / august 2014 OPENING REMARKS Editor-in-Chief and Publisher Ramprasad [email protected] Tone is set for Reforms Assistant Editor Deepika Amirapu [email protected] When images of Arun Jaitley holding the black Assistant Editor Itishree Samal [email protected] suitcase were being flashed on national television, I bet the shipping industry did not expect as many Sr Designer Vijay Masa goodies. But Jaitley in his speech almost pulled Designer Nagaraju N S out the rabbit out of the hat announcing sops and Marketing & Sales generous outlays for the ports and the logistics National Satish Shetti, Manager – Sales sectors. [email protected] – 099207 05534 Came close on the heels of budget, some quick East Nikhil Doshi, GM – Sales policy make overs from Ministry of Shipping. From [email protected] – 098369 96293 revamping Port Trust Boards to allowing Indian South & International Vinod G, Sr Manager – MarCom [email protected] – 099498 69349 Shipping companies owning foreign flagged vessels to relaxation of cabotage norms at major ports for empties, Gadkari’s laundry list Client Relations Madhukar – Manager indicates the shape of things to come.
    [Show full text]
  • Engineered for The
    Engineered for the Adani Power Limited Annual Report 2015-16 India needs more power to accelerate its GDP growth momentum. In 2006, Adani Power Limited responded to this national priority with efficiency and agility by extending into the business of power generation. In less than a decade, the Company has emerged as the country’s largest private sector thermal power producer (capacity 10,440MW). Adani Power Limited 20th Annual Report 2015-16 Representing almost 6% of India’s thermal power generation capacity. Commissioned at an annual average of 1.1GW, making the company India’s fastest growing thermal power enterprise. Demonstrating that when it comes to servicing core national needs, Adani Power is prepared with foresight, scale and speed. Picture of a dynamic company, 2015-16 64.6 25,433 Electricity units sold Consolidated total (in billion) income (` crore) 27% 29% growth over 2014-15 growth over 2014-15 8,755 34 EBIDTA (` crore) EBIDTA margin (%) 44% 369 bps growth over 2014-15 growth over 2014-15 Adani Power Limited 20th Annual Report 2015-16 488 1.64 Consolidated net Earnings per share profit (` crore) (`) 160% 158% growth over 2014-15 (net growth over 2014-15 loss of `816 crore) Adani Power consolidated its 22.13 0.98 position as India’s largest private Book value per Return on assets (%) sector thermal power producer share (`) with total generation capacity of 10440 MW across four 11% (1.80%) thermal plants commissioned growth over 2014-15 for 2014-15 around efficient super-critical technology. At Adani Power Limited, we have emerged as India's largest private sector thermal power enterprise in less than a decade.
    [Show full text]
  • Adani Power Ltd. S
    Adani Power Ltd. s. August 10th, 2015 BSE Code: 533096 NSE Code: ADANIPOWER Reuters Code: ADAN.NS Bloomberg Code: ADANI:IN CRG:IN Incorporated in 1996, Adani Power Limited (APL) is an India based thermal Market Data power generating company headquartered in Ahmedabad, Gujarat. It is engaged in the generation, transmission and distribution of electricity. The CMP (`) 28 company is involved in two segments viz. – Power and Shipping. Power Face Value 10.0 segment includes generation and distribution of electricity, while the 52 week H/L (`) 60.1/26.3 shipping segment deals with chartering and owning of ships, barges and Adj. all time High (`) 145 Decline from 52WH (%) 53.4 boats with crew. The company currently has a consolidated installed & Rise from 52WL (%) 6.4 commissioned capacity of 10,440 MW. Its’ coal based power plant at Mundra Beta 1.6 in Gujarat has an installed capacity of 4,620 MW and it accounts for over half Mkt. Cap (`Cr) 8,132 of Adani Power’s capacity. It has coal mining rights in three countries – India, Enterprise Value(`Cr) 54,112 Australia and Indonesia. Fiscal Year Ended Key Developments FY13A FY14A FY15A Revenue rose ~22% YoY in FY15 backed by capacity addition: Net Sales (`cr) 6,779.4 15,463.9 18,823.7 The company reported a net revenue of Rs. 18,823.7 Crore in FY15, up by Net Profit (`cr) (2,295.0) (290.6) (815.6) 21.7% as compared to the last year backed by capacity addition at Tiroda Share Capital 2,393.3 2,871.9 2,871.9 Power Plant.
    [Show full text]
  • Adani Power Limited Annual Report 2018-19 Power Inside the Report
    Adani Power Limited Annual Report 2018-19 Power Inside the Report Corporate Overview Statutory Reports 02 About Adani Power 36 Directors’ Report 04 Generation Capacity 60 Management 06 Operational Highlights Discussion and Analysis 08 Key Performance Indicators 69 Corporate Governance Report 10 Chairman’s Communiqué 93 Business Responsibility Report 12 CEO’s Message 14 Business Model Financial Statements 16 Strategic Focus 106 Standalone 18 Opportunity Landscape 166 Consolidated 20 Regulatory Environment 22 Technology Initiatives 230 Notice 24 Human Resources 26 Environmental Initiatives 28 Corporate Social Responsibility 35 Corporate Information About Adani Group The $ 13 billion Adani Group is one of India’s largest integrated infrastructure conglomerates with interests in Resources (coal mining and trading), Logistics (ports, logistics, shipping and rail), Energy (renewable and thermal power generation, transmission and distribution), and Agro (commodities, edible oil, food products, cold storage and grain silos), Real Estate, Public Transport Infrastructure, Consumer Finance, Solar Manufacturing and Defence. Adani owes its success and leadership position to its core philosophy of ‘Nation Building’ and ‘Growth with Goodness’ – a guiding principle for sustainable growth. The Group is committed to protecting the environment and improving communities through its CSR programme based on the principles of sustainability, diversity and shared values. Empowering India. Shaping a new future. Our aspirations are intertwined with India’s ambition of becoming a global economic power. As the nation remains firmly set on a rapid growth trajectory, we at Adani Power remain at the forefront of addressing its increasing demand for energy. For us, building a sustainable future isn’t just about achieving business objectives, but also much more about the impact we can create, the lives we can light up and the destiny we can dream about.
    [Show full text]
  • Towards Consolidation
    Towards consolidation LANCO Infratech Limited ANNUAL REPORT 2011-12 Contents Statutory Standalone Consolidated Reports Financial Financial Statements Statements 01 Corporate Information 53 104 Auditors’ Report Auditors’ Report 03 Year at a Glance 58 106 Balance Sheet Balance Sheet 04 Directors’ Report 59 107 Statement of Profit and Loss Statement of Profit and Loss 12 Management Discussion 60 108 and Analysis Cash Flow Statement Cash Flow Statement 38 62 110 Report on Corporate Notes Notes Governance Lanco is a leading EPC player in India now with global footprints. 25 years ago, we started as a small construction company. Much has changed since then. Today, we have transformed ourselves and emerged as a large, integrated infrastructure enterprise. We have fortified our organisation to meet the most daunting challenges, and leverage opportunities that present themselves in the years to come. However, a few things remain exactly how they were when we began. Our passion for progress and zest for evolution, for instance. Also, our ability to imbibe sophisticated processes, operational abilities and skills. Our fundamental approach remains simple. Combining the best technology and the greatest human talent to create world-class ‘concept to commissioning’ solutions that empower lives. 2011-12 represented another step towards our vision and ability to adapt in a dynamic environment and realign ourselves. We bagged our first international EPC order in the Middle East. We commenced the construction of the metro rail projects in Chennai and Delhi. We were awarded three projects to build transmission lines for Power Grid Corporation of India Limited (PGCIL). Our thermal power plants performed well.
    [Show full text]
  • Reaffirming Trust with Efficient Actions to Nurture and Evolve a Wholesome Tomorrow
    RENEW Reaffirming trust with Efficient actions to Nurture and Evolve a Wholesome tomorrow Value Creation Report 2017-18 Adani Power Limited Growth with Goodness RENEW Reaffirming trust with Efficient actions to Nurture and Evolve a Wholesome tomorrow Tomorrow depends on today. Hence, With a clear focus on reducing our endeavour to ensure a healthy and we at Adani Power Limited (APL), strive environmental and societal impact, sustainable operation that contributes to power better, more efficient and we have driven efficiency initiatives to rapid national development and the Highlights of inclusive possibilities for the future. that help us achieve positive outcomes growth of all our key stakeholders. and drive growth across society. Last As India’s largest private power year, we did witness some headwinds. Around the same thought, we have producer, we acknowledge our However, even amidst a complex and developed our Value Creation Report FY 2017-18 responsibility in achieving sustainable dynamic working environment, APL was centred around the idea of ‘RENEW’. growth and creating value for our committed to growing, nurturing and This report traces our value creation Contents index stakeholders. In the last few years, we evolving a wholesome tomorrow. We journey across six capitals and reflects Revenue – E210,934.3 million have delivered four world-class power focused on growing our business and how we are ‘Reaffirming trust with Equity – E8,845.4 million Company Overview 2 plants supplying electricity at some servicing customers under long-term Efficient actions to Nurture and Evolve of the most competitive rates, thus and medium-term Power Purchase a Wholesome tomorrow’.
    [Show full text]