Last checked at 13 Aug 2015 12:37
RELIANCE INFRASTRUCTURE LIMITED | |||||||
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710 | |||||||
website:www.rinfra.com | |||||||
CIN No. : L99999MH1929PLC001530 | |||||||
Standalone Statement of Financial Results for the quarter ended June 30, 2015 | |||||||
Part - I | Rs crore | ||||||
Sr. No. | Particulars | Quarter ended | Year ended | ||||
30-06-2015 | 31-03-2015 | 30-06-2014 | 31-03-2015 | ||||
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||
1 | Income from Operations | ||||||
(a) Net Sales / Income from Power Business | 1,982.70 | 1,854.85 | 1,958.92 | 7,726.43 | |||
(b) Income from EPC and Contracts Business | 596.65 | 805.37 | 565.38 | 2,620.22 | |||
(c) Other Operating Income | 15.03 | 141.61 | 11.60 | 188.91 | |||
Total Income from Operations | 2,594.38 | 2,801.83 | 2,535.90 | 10,535.56 | |||
2 | Expenses | ||||||
(a) Cost of Power purchased | 913.42 | 899.64 | 1,014.74 | 3,685.18 | |||
(b) Cost of Fuel | 263.89 | 194.63 | 307.85 | 1,087.45 | |||
(c) Construction Materials Consumed and | |||||||
Sub-contracting Charges | 480.85 | 664.88 | 404.04 | 2,036.02 | |||
(d) Employee benefits expense | 263.46 | 267.70 | 221.68 | 976.19 | |||
(e) Depreciation and amortisation | 121.35 | 177.65 | 89.75 | 486.86 | |||
(f) Other Expenses | 196.04 | 208.31 | 157.06 | 790.26 | |||
Total Expenses | 2,239.01 | 2,412.81 | 2,195.12 | 9,061.96 | |||
3 | Profit from Operations before Other Income (net), finance costs and exceptional items | 355.37 | 389.02 | 340.78 | 1,473.60 | ||
4 | Other Income (net) (Refer Note 1 (b)) | 469.62 | 377.76 | 395.50 | 1,562.60 | ||
5 | Profit from Ordinary Activities before finance costs and exceptional items | 824.99 | 766.78 | 736.28 | 3,036.20 | ||
6 | Finance Costs (Refer Note 1 (b)) | 406.13 | 465.14 | 334.31 | 1,518.14 | ||
7 | Profit from Ordinary Activities before exceptional items | 418.86 | 301.64 | 401.97 | 1,518.06 | ||
8 | Exceptional Items | - | - | - | - | ||
9 | Profit from Ordinary Activities before tax | 418.86 | 301.64 | 401.97 | 1,518.06 | ||
10 | Tax Expenses (including Deferred Tax & Tax for earlier years) | 89.00 | (148.33) | 80.50 | (15.33) | ||
11 | Profit from Ordinary Activities after Tax | 329.86 | 449.97 | 321.47 | 1,533.39 | ||
12 | Extraordinary items | - | - | - | - | ||
13 | Profit for the period | 329.86 | 449.97 | 321.47 | 1,533.39 | ||
14 | Paid-up Equity Share Capital (Face Value ofRs10 per Share) | 263.03 | 263.03 | 262.58 | 263.03 | ||
15 | Reserves including Statutory Reserves excluding Revaluation Reserves | 20,428.93 | |||||
16 | Earnings Per Share (* not annualised) | ||||||
(a) Basic (`) | 12.54 * | 17.11 * | 12.22 * | 58.31 | |||
(b) Diluted (`) | 12.54 * | 17.11 * | 12.22 * | 58.31 | |||
Part - II Selected Information for the quarter ended June 30, 2015 | |||||||
A | Particulars of Shareholding | ||||||
1 | Public Shareholding | ||||||
- Number of Shares | 13,53,62,965 | 13,53,62,964 | 13,53,62,964 | 13,53,62,964 | |||
- Percentage of Shareholding | 51.47 | 51.47 | 51.47 | 51.47 | |||
2 | Promoter and promoter group shareholding | ||||||
a) Pledged/Encumbered | |||||||
- Number of shares | 4,53,64,675 | 3,90,00,000 | - | 3,90,00,000 | |||
- Percentage of shares (as a % of the total shareholding | 35.54 | 30.56 | - | 30.56 | |||
of promoter and promoter group) | |||||||
- Percentage of shares (as a % of the total share capital of the Company) | 17.25 | 14.83 | - | 14.83 | |||
b) Non-encumbered | |||||||
- Number of shares | 8,22,62,361 | 8,86,27,036 | 12,76,27,036 | 8,86,27,036 | |||
- Percentage of shares (as a % of the total shareholding | 64.46 | 69.44 | 100.00 | 69.44 | |||
of promoter and promoter group) | |||||||
- Percentage of shares (as a % of the total share capital of the Company) | 31.28 | 33.70 | 48.53 | 33.70 | |||
B | Investor Complaints | Quarter ended 30-06-2015 | |||||
Pending at the beginning of the quarter | Nil | ||||||
Received during the quarter | 7 | ||||||
Disposed off during the quarter | 7 | ||||||
Remaining unresolved at the end of the quarter | Nil | ||||||
RELIANCE INFRASTRUCTURE LIMITED | |||||||
Segment-wise Revenue, Results and Capital Employed | |||||||
Rs crore | |||||||
Sr. No. | Particulars | Quarter ended | Year ended | ||||
30-06-2015 | 31-03-2015 | 30-06-2014 | 31-03-2015 | ||||
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||
1 | Segment Revenue | ||||||
- Power Business | 1,995.12 | 1,988.93 | 1,970.29 | 7,894.27 | |||
- EPC and Contracts Business | 599.26 | 812.90 | 565.61 | 2,641.29 | |||
Total | 2,594.38 | 2,801.83 | 2,535.90 | 10,535.56 | |||
Less : Inter Segment Revenue | - | - | - | - | |||
Net Sales / Income from Operations | 2,594.38 | 2,801.83 | 2,535.90 | 10,535.56 | |||
2 | Segment Results | ||||||
Profit before Tax and Interest from each segment : | |||||||
- Power Business | 347.58 | 419.12 | 295.21 | 1,404.44 | |||
- EPC and Contracts Business | 63.57 | 23.25 | 89.91 | 274.47 | |||
Total | 411.15 | 442.37 | 385.12 | 1,678.91 | |||
- Finance Costs | (406.13) | (465.14) | (334.31) | (1,518.14) | |||
- Interest Income | 366.63 | 272.59 | 276.43 | 1,099.47 | |||
- Other un-allocable Income net of expenditure | 47.21 | 51.82 | 74.73 | 257.82 | |||
Profit before Tax | 418.86 | 301.64 | 401.97 | 1,518.06 | |||
3 | Capital Employed | ||||||
- Power Business | 9,206.35 | 9,694.77 | 7,854.79 | 9,694.77 | |||
- EPC and Contracts Business | 543.18 | 935.98 | 568.87 | 935.98 | |||
- Unallocated Assets (net) | 11,774.89 | 10,556.65 | 13,169.42 | 10,556.65 | |||
Total | 21,524.42 | 21,187.40 | 21,593.08 | 21,187.40 | |||
Notes:
1. a) The Company has opted for amortising the foreign exchange fluctuation gain / (loss) on the long term foreign currency monetary items over the balance life of depreciable assets / long term monetary items, as the case may be. The Company has carried forward unamortised portion of net gain of Rs 252.12 crore to "Foreign Currency Monetary Items Translation Difference Account" as on June 30, 2015.
b) Pursuant to the option exercised under the Scheme of Amalgamation of Reliance Infraprojects Limited with the Company sanctioned by the Hon'ble High Court of Judicature at Bombay, net foreign exchange gain of Rs0.22 crore (net off of foreign exchange loss of Rs 70.48 crore attributable to finance cost) for the quarter ended June 30, 2015 has been credited to the Statement of Profit and Loss and an equivalent amount has been transferred to General Reserve. Had such transfer not been done, the Profit before tax for the quarter ended June 30, 2015 would have been higher by Rs 0.22 crore and General Reserve would have been lower by an equivalent amount. The treatment prescribed under the Scheme overrides the relevant provisions of Accounting Standard 5 (AS-5) 'Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies'. This matter has been referred to by the Auditors in their report.
2. Delhi Airport Metro Express Private Limited (DAMEPL), a SPV of the Company, had terminated the Concession Agreement with Delhi Metro Rail Corporation (DMRC) for the Delhi Airport Metro Line, on account of Material Breach and Event of Default under the provisions of the Concession Agreement by DMRC. The operations were taken over by DMRC with effect from July 1, 2013. As per the terms of the Concession Agreement, DMRC is now liable to pay DAMEPL a Termination Payment, which is estimated at Rs 2,823 crore, as the termination has arisen owing to DMRC's Event of Default. The matter has been referred to arbitration and the process for the same is continuing. Pending final outcome of the arbitration, the Company continues to fund the statutory and other obligations of DAMEPL post take over by DMRC and accordingly has funded Rs 156.85 crore during the quarter ended June 30, 2015. The total investment made by the Company in DAMEPL upto June 30, 2015 amounts to Rs1,858.95 crore.
The Company had reviewed the progress in settlement of various claims and also on overall review of financial position of DAMEPL, the Company considered it prudent to write offRs1,258.20 crore out of above investment during the previous year ended March 31, 2015. However, as legally advised, DAMEPL's claims for the termination payments are considered fully enforceable. This matter has been referred to by the Auditors in their report.
3. During the quarter, Reliance SED Ltd., Reliance Propulsion Systems Ltd., Reliance Space Ltd., Reliance Defence Infrastructure Ltd., Reliance Land Systems Ltd., Reliance Naval Systems Ltd., Reliance Unmanned Systems Ltd., Reliance Aerostructure Ltd. and Reliance Helicopters Ltd. have been incorporated as subsidiaries of the Company.
4. After review by the Audit Committee, the Board of Directors of the Company has approved the Standalone financial results at their meeting held on August 12, 2015. The statutory auditors have carried out a limited review of the financial results for the quarter ended June 30, 2015 of the Company, as per listing agreement entered into with the stock exchanges in India.
5. There were no exceptional and extraordinary items during the quarter ended June 30, 2015.
6. Figures of the previous period / year have been regrouped / reclassified wherever considered necessary. The results for the Quarter ended June 30, 2015 include the figures of the two amalgamated subsidiaries Viz. Western Region Transmission (Maharashtra) Private Limited and Western Region Transmission (Gujarat) Private Limited which were amalgamated with effect from April 1, 2013 and effect of which was given in the quarter ended March 31, 2015 and are therefore not comparable with the corresponding previous periods.
For and on behalf of the Board of Directors
Place: Mumbai S. Seth
Date: August 12, 2015 Vice Chairman