SREI Inf Fin Ltd SRI Consolidated Unaudited Financial Result 30.09.2012
SREI Inf Fin Ltd (SRI) - Consolidated Unaudited Financial Result 30.09.2012
RNS Number : 7817Q
SREI Infrastructure Finance Limited
09 November 2012
SREI INFRASTRUCTURE FINANCE LTD.
Regd Office: 'Vishwakarma', 86C, Topsia Road (South), Kolkata - 700 046, Website:
www.srei.com, Email for Investors: investor.relations@srei.com
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER,
2012
(` in Lakh)
Quarter ended Half Year ended Accounting
year ended
Particulars 30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12
(Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited)
1. Income
(a) Income from Operations 76404 73021 57582 149425 108053 237782
(b) Other Operating Income 1123 2649 557 3772 1034 5560
Total Income from Operations 77527 75670 58139 153197 109087 243342
2. Expenses
(a) Employee Benefits Expense 4258 4460 4666 8718 8331 17180
(b) Legal and Professional 1586 860 911 2446 1959 3967
Fees
(c) Operating and Other 4477 4348 4629 8825 8937 18351
Expenses
(d) Bad Debts written off 1439 1377 1197 2816 1724 5121
(e) Contingent Provisions 91 392 283 483 575 1169
against Standard Assets
(f) Provision for Bad and 68 84 148 152 426 2162
Doubtful Debts & NPAs
(g) Depreciation/Amortisation 5773 5157 4686 10930 8846 16503
and Impairment
Total Expenses 17692 16678 16520 34370 30798 64453
3. Profit from Operations
before Other Income, Finance 59835 58992 41619 118827 78289 178889
Cost & Exceptional items (1-2)
4. Other Income 1289 498 626 1787 761 1291
5. Profit from ordinary
activities before Finance Cost 61124 59490 42245 120614 79050 180180
& Exceptional items (3+4)
6. Finance Cost 51976 54774 37292 106750 65133 156503
7. Profit from ordinary
activities after Finance Cost 9148 4716 4953 13864 13917 23677
but before Tax & Exceptional
items (5-6)
8. Exceptional Items 6659 - - 6659 - -
9. Profit from ordinary 15807 4716 4953 20523 13917 23677
activities before Tax (7+8)
10. Current tax expenses 3705 2484 2277 6189 5311 8951
11. Income Tax in respect of (1) - 2 (1) - 2411
Earlier Years
12. Net Profit from ordinary 12103 2232 2674 14335 8606 12315
activities after Tax (9-10-11)
13. Extraordinary Items (net of - - - - - -
expenses)
14. Net Profit for the
period/year (before adjustment 12103 2232 2674 14335 8606 12315
for Minority Interest) (12-13)
15. Share of Profit/(Loss) of (917) 490 214 (427) 686 1134
Minority Interest
16. Net Profit after taxes and 13020 1742 2460 14762 7920 11181
minority interest (14-15)
17. Paid-up Equity Share
Capital (Face Value ` 10/- 50324 50324 50324 50324 50324 50324
each)
18. Reserves excluding 267543
Revaluation Reserves
19. Earnings per share- Basic & *2.59 *0.35 *0.49 *2.93 *1.57 2.22
Diluted (`)
A. Particulars of Shareholding
1. Public shareholding
(excluding Global Depository
Receipts)
- Number of Shares 258400769 265347427 270555417 258400769 270555417 266244714
- Percentage of Shareholding 51.37 52.75 53.78 51.37 53.78 52.92
2. Promoters and promoter group
shareholding
(a) Pledged/Encumbered
- Number of Shares 89858543 89858543 - 89858543 - 86658543
- % of Shares (to total
shareholding of promoters and 36.73 37.80 - 36.73 - 36.59
promoter group)
- % of Shares (to total share 17.86 17.86 - 17.86 - 17.23
capital of the company)
(b) Non Encumbered
- Number of Shares 154805421 147858763 232509316 154805421 232509316 150161476
- % of Shares (to total
shareholding of promoters and 63.27 62.20 100.00 63.27 100.00 63.41
promoter group)
- % of Shares (to total share 30.77 29.39 46.22 30.77 46.22 29.85
capital of the company)
B. Investor Complaints
-Pending at the beginning of Nil
the quarter
-Received during the quarter Nil
-Disposed off during the Nil
quarter
-Remaining unresolved at the Nil
end of the quarter
* Not annualized
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
(` in Lakh)
As at As at
Particulars 30-Sep-12 31-Mar-12
(Reviewed) (Audited)
A. EQUITY AND LIABILITIES
1. Shareholders' Funds
(a) Share Capital 50324 50324
(b) Reserves and Surplus 280198 267543
Sub-total : Shareholders' funds 330522 317867
2. Minority Interest 5072 9128
3. Non-current liabilities
(a) Long-term borrowings 650840 572758
(b) Deferred tax liabilities (net) 15190 14053
(c) Other long-term liabilities 7895 7141
(d) Long-term provisions 11411 12391
Sub-total : Non-current liabilities 685336 606343
4. Current liabilities
(a) Short-term borrowings 898073 821202
(b) Trade payables 48673 43849
(c) Other current liabilities 232328 218662
(d) Short-term provisions 1056 3326
Sub-total : Current liabilities 1180130 1087039
TOTAL - EQUITY AND LIABILITIES 2201060 2020377
(` in Lakh)
As at As at
Particulars 30-Sep-12 31-Mar-12
(Reviewed) (Audited)
B. ASSETS
Non-current assets
(a) Fixed assets 149280 207526
(b) Goodwill on consolidation 43917 43988
(c) Non-current investments 211150 210051
(d) Deferred tax assets (net) 802 3183
(e) Long-term loans and advances 693137 541337
(f) Other non-current assets 17793 46474
Sub-total : Non-current assets 1116079 1052559
Current assets
(a) Current investments 36450 2200
(b) Inventories 789 1318
(c) Trade receivables 38850 34691
(d) Cash and cash equivalents 56338 40877
(e) Short-term loans and advances 134113 113946
(f) Other current assets 818441 774786
Sub-total : Current assets 1084981 967818
TOTAL - ASSETS 2201060 2020377
Segment wise Revenue, Results and Capital Employed as per Clause 41 of Listing Agreement
(` in Lakh)
Quarter ended Half Year ended Accounting
year ended
Particulars 30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12
(Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited)
1. Segment Revenue
(a) Financial
Services 72280 69743 51762 142023 95087 214619
(b) Infrastructure
Equipment Services 6762 7114 5391 13876 12718 29726
(c) Others 1413 1054 3234 2467 4922 6468
Total 80455 77911 60387 158366 112727 250813
Less: Inter Segment
Revenue 1639 1743 1622 3382 2879 6180
Net Income from
Operations 78816 76168 58765 154984 109848 244633
2. Segment Results
(a) Financial
Services 8802 4973 4011 13775 12073 20549
(b) Infrastructure
Equipment Services 3617 716 1083 4333 2095 4238
(c) Others 3364 (691) 150 2673 185 (179)
Total 15783 4998 5244 20781 14353 24608
Less: Interest &
Finance Charges (24) 282 291 258 436 931
Other Un-allocable
Expenditure (Net) - - - - - -
Un-allocable Income - - - - - -
Total Profit Before
Tax 15807 4716 4953 20523 13917 23677
3. Capital Employed
(Segment
Assets-Segment
Liabilities)
(a) Financial
Services 302271 272253 284861 302271 284861 273812
(b) Infrastructure
Equipment Services 15068 26520 17738 15068 17738 25222
(c) Others 25774 37551 27403 25774 27403 33250
(d) Un-allocable (7519) (5904) (5332) (7519) (5332) (5289)
Total 335594 330420 324670 335594 324670 326995
Notes:
1. In accordance with clause 41 of the Listing Agreement, the Company has published
consolidated financial results. The unaudited standalone financial results of the Company
will, however, be available on the Company's website www.srei.com and on the websites of
BSE (www.bseindia.com) and / or NSE (www.nseindia.com).
2. The above unaudited consolidated financial results were reviewed by the Audit
Committee at its meeting held on 9th November, 2012 and approved by the Board of Directors
at its meeting held on the same date. The Statutory Auditors of the Company have reviewed
the said results.
3. The above unaudited consolidated financial results have been prepared in
accordance with principles and procedures as set out in Accounting Standard-21 on
'Consolidated Financial Statements', Accounting Standard-23 on 'Accounting for Investments
in Associates in Consolidated Financial Statements' and Accounting Standard-27 on
'Financial Reporting of Interests in Joint Ventures' notified by the Central Government
under Companies (Accounting Standards) Rules, 2006.
4. Earnings per share (Basic & Diluted) have been calculated as per Accounting
Standard - 20 'Earnings Per Share' notified by the Central Government under Companies
(Accounting Standards) Rules, 2006.
5. The Company has further infused an amount of ` 9,982 Lakh in Srei Equipment
Finance Private Limited, the Joint Venture Company, by subscribing to it's Equity Share
Capital in two equal tranches on 31.08.2012 and 01.10.2012.
6. The shareholding of the Company in Srei Sahaj e-Village Limited ('Sahaj') has
reduced from 95.10% to 47.55% and hence Sahaj has ceased to be a subsidiary of the Company
and has become an associate w.e.f. 13.08.2012.
7. Quippo Prakash Pte. Limited has ceased to be a step-down subsidiary of the Company
w.e.f. 28.08.2012
8. Exceptional items of ` 6,659 Lakhs consists of adjustment on account of cessation
/ disposal of subsidiary (Sahaj) and step-down subsidiary (Quippo Prakash Pte. Limited).
9. The financial results of a foreign subsidiary (including its subsidiaries and
joint venture), five foreign step down subsidiaries and a foreign joint venture of a
subsidiary have been prepared as per IFRS, generally followed in the country of their
incorporation. As there are no material differences between the accounting policies, no
adjustments have been considered necessary.
10. Due to the fluctuation in foreign exchange rates, the applicable gain on foreign
exchange transactions and translations is ` 2,230 Lakh for the quarter ended 30th
September, 2012 as against loss of ` 4,245 Lakh for quarter ended 30th September, 2011 and
loss of ` 3,623 Lakh for the half year ended 30th September, 2012 as against loss of `
4,420 Lakh for the half year ended 30th September, 2011.
11. Company's standalone financial information (` in Lakh) is as below:
Quarter ended Half Year ended Accounting
year ended
Particulars 30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12
(Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited)
Turnover 42455 40937 26832 83392 49376 118069
Profit 6967 1439 920 8406 5627 10879
Before Tax
Profit After 4914 954 796 5868 4125 5796
Tax
12. Figures pertaining to the previous year/period have been rearranged/regrouped,
reclassified and restated, wherever considered necessary, to make them comparable with
those of current period.
For and on behalf of the Board of Directors
Place: Kolkata
Date: 9th November, 2012
Hemant Kanoria
Chairman and Managing Director
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR BDBDBRDGBGDC -0- Nov/09/2012 12:34 GMT
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