13th Aug 2015 12:44
Reliance Infrastructure Limited | |||||
Registered Office: H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai 400 710 | |||||
website: www.rinfra.com CIN L99999MH1929PLC001530 | |||||
Statement of Consolidated 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 | 3,124.49 | 3,112.40 | 3,352.19 | 12,973.82 | |
(b) Income from EPC and Contracts Business | 626.20 | 837.18 | 589.43 | 2,731.17 | |
(c) Net Sales / Income from Infrastructure Business | 208.82 | 196.38 | 160.79 | 728.37 | |
(d) Net Sales from Cement Business (Net of Excise Duty) | 306.60 | 278.05 | 32.69 | 499.82 | |
(e) Other Operating Income | 70.72 | 194.20 | 15.79 | 265.28 | |
Total Operating Income (Net) | 4,336.83 | 4,618.21 | 4,150.89 | 17,198.46 | |
2 | Expenditure | ||||
(a) Cost of Power Purchased | 1,836.23 | 2,112.48 | 1,996.79 | 7,811.62 | |
(b) Cost of Fuel and Materials Consumed | 416.08 | 328.86 | 464.73 | 1,542.14 | |
(c) Construction Materials Consumed and Sub-Contracting | |||||
Charges | 508.02 | 686.68 | 427.68 | 2,134.27 | |
(d) Purchase of stock-in-trade | 7.16 | 7.33 | 4.13 | 23.69 | |
(e) Changes in inventories of finished goods, work-in-progress | 2.11 | (16.43) | 0.24 | (29.83) | |
and stock-in-trade | |||||
(f) Employee Benefits Expense | 334.92 | 319.51 | 277.73 | 1,215.56 | |
(g) Depreciation and amortisation | 247.03 | 244.42 | 142.03 | 832.83 | |
(h) Other Expenses | 483.71 | 457.78 | 294.18 | 1,590.37 | |
Total Expenditure | 3,835.26 | 4,140.63 | 3,607.51 | 15,120.65 | |
3 | Profit from operations before Other Income (net), Finance Costs and Exceptional Items | 501.57 | 477.58 | 543.38 | 2,077.81 |
4 | Other Income (Refer Note 1 (b)) | 492.47 | 409.42 | 397.60 | 1,653.14 |
5 | Profit from Ordinary Activities before Finance Costs and Exceptional Items | 994.04 | 887.00 | 940.98 | 3,730.95 |
6 | Finance Costs (Refer Note 1 (b)) | 643.73 | 683.46 | 480.75 | 2,347.32 |
7 | Profit from Ordinary Activities after Finance Costs but before Exceptional Items | 350.31 | 203.54 | 460.23 | 1,383.63 |
8 | Exceptional Items | - | - | - | - |
9 | Profit from Ordinary Activities before Tax | 350.31 | 203.54 | 460.23 | 1,383.63 |
10 | Tax Expenses (including Deferred Tax and Tax for earlier years) | 110.18 | (116.97) | 106.14 | 69.97 |
11 | Net Profit from Ordinary Activities after Tax | 240.13 | 320.51 | 354.09 | 1,313.66 |
12 | Extraordinary Items | - | - | - | - |
13 | Net Profit for the period | 240.13 | 320.51 | 354.09 | 1,313.66 |
Share of Profit in Associates (net) | 143.09 | 110.70 | 102.15 | 411.74 | |
Minority Interest | 17.69 | 27.90 | 1.38 | 74.78 | |
14 | Net Profit after Taxes, Share of Profit in Associates and Minority Interest | 400.91 | 459.11 | 457.62 | 1,800.18 |
15 | Paid-up Equity Share Capital (Face Value of Rs 10 per Share) | 263.03 | 263.03 | 262.58 | 263.03 |
16 | Reserves including Statutory Reserves excluding Revaluation Reserves | 25,908.54 | |||
17 | Earnings Per Share (* not annualised) | ||||
(a) Basic (Rs) | 15.24 * | 17.46 * | 17.40 * | 68.45 | |
(b) Diluted (Rs) | 15.24 * | 17.46 * | 17.40 * | 68.45 | |
Part - II Selected Information for the quarter ended June 30, 2015 | |||||
A | Particulars of Shareholding | ||||
1 | Public Shareholding | ||||
- Number of Shares | 13,53,62,964 | 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 of during the quarter | 7 | ||||
Remaining unresolved at the end of the quarter | Nil | ||||
Reliance Infrastructure Limited | |||||
Consolidated 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 | 3,147.41 | 3,299.25 | 3,370.86 | 13,228.39 | |
- EPC and Contracts Business | 628.83 | 844.76 | 589.69 | 2,752.36 | |
- Infrastructure Business | 213.17 | 201.66 | 160.79 | 742.94 | |
- Cement Business | 356.50 | 296.82 | 32.69 | 518.82 | |
Total | 4,345.91 | 4,642.49 | 4,154.03 | 17,242.51 | |
Less: Inter Segment Revenue | 9.08 | 24.28 | 3.14 | 44.05 | |
Net Sales / Income from Operations | 4,336.83 | 4,618.21 | 4,150.89 | 17,198.46 | |
2 | Segment Results | ||||
Profit before Interest, Tax, Share in Associates and Minority Interest from each segment: | |||||
- Power Business | 441.50 | 451.83 | 437.65 | 1,873.56 | |
- EPC and Contracts Business | 65.06 | 50.43 | 89.61 | 302.16 | |
- Infrastructure Business | 40.75 | 46.31 | 60.69 | 150.74 | |
- Cement Business | 14.25 | (12.22) | (0.24) | (37.81) | |
Total | 561.56 | 536.35 | 587.71 | 2,288.65 | |
- Finance Costs | (643.73) | (683.46) | (480.75) | (2,347.32) | |
- Interest Income | 382.93 | 292.05 | 299.33 | 1,189.30 | |
| - Other un-allocable Income net of expenditure | 49.55 | 58.60 | 53.94 | 253.00 |
Profit before Tax, Share in Associates and Minority Interest | 350.31 | 203.54 | 460.23 | 1,383.63 | |
3 | Capital Employed | ||||
- Power Business | 13,218.40 | 13,868.40 | 13,814.33 | 13,868.40 | |
- EPC and Contracts Business | 503.70 | 902.04 | 396.34 | 902.04 | |
- Infrastructure Business | 9,096.95 | 8,249.18 | 8,144.64 | 8,249.18 | |
- Cement Business | 3,188.16 | 3,154.53 | 3,111.34 | 3,154.53 | |
- Unallocated Assets (net) | 1,381.87 | 800.32 | 2,107.62 | 800.32 | |
Total | 27,389.08 | 26,974.47 | 27,574.27 | 26,974.47 | |
Notes:
1. a) The Group 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 Group 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 Parent Company sanctioned by the Hon'ble High Court of Judicature at Bombay, net foreign exchange gain of Rs 0.22 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'.
2. Delhi Airport Metro Express Private Limited (DAMEPL), a SPV of the Parent 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 Parent Company continues to fund the statutory and other obligations of DAMEPL post take over by DMRC and accordingly has funded Rs156.85 crore during the quarter ended June 30, 2015. The total investment made by the Parent Company in DAMEPL upto June 30, 2015 amounts to Rs 1,858.95 crore.
The Parent 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 off Rs 1,258.20 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.
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 Parent Company.
4. The Company has opted to publish consolidated financial results. Standalone financial results, for the quarter ended June 30, 2015 can be viewed on the websites of the Company, National Stock Exchange of India Limited and Bombay Stock Exchange Limited at www.rinfra.com, www.nseindia.com, www.bseindia.com respectively. Key standalone financial information is given below:
(Rs crore)
Particulars | Quarter ended (Unaudited) | Year ended (Audited) | ||
June 30, 2015 | March 31, 2015 | June 30, 2014 | March 31, 2015 | |
Total Operating Income | 2,594.38 | 2,801.83 | 2,535.90 | 10,535.56 |
Profit before Tax | 418.86 | 301.64 | 401.97 | 1,518.06 |
Profit after Tax | 329.86 | 449.97 | 321.47 | 1,533.39 |
5. After review by the Audit Committee, the Board of Directors of the Company has approved the consolidated financial results at their meeting held on August 12, 2015.
6. There were no exceptional and extraordinary items during the quarter ended June 30, 2015.
7. Figures of the previous period / year have been regrouped / reclassified wherever considered necessary.
For and on behalf of the Board of Directors
Place: Mumbai S. Seth
Date: August 12, 2015 Vice Chairman
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Reliance Inf S