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SREI INFRASTRUCTURE FINANCE LTD. |
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UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2011 |
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(` in Lakh) |
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Quarter ended |
Nine Months ended |
Accounting Year ended |
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Particulars |
31-Dec-11 |
30-Sep-11 |
31-Dec-10 |
31-Dec-11 |
31-Dec-10 |
31-Mar-11 |
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(Reviewed) |
(Reviewed) |
(Reviewed) |
(Reviewed) |
(Reviewed) |
(Audited) |
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1. Income |
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(a) Income from Operations |
66380 |
57582 |
32397 |
174433 |
99471 |
160938 |
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(b) Other Operating Income |
2352 |
594 |
296 |
3423 |
921 |
2229 |
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(c) Total Income |
68732 |
58176 |
32693 |
177856 |
100392 |
163167 |
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2. Expenditure |
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(a) Employees Cost |
4302 |
4666 |
2514 |
12633 |
7063 |
12344 |
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(b) Legal and Professional Fees |
921 |
911 |
446 |
2880 |
1930 |
4016 |
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(c) Operating and Other Expenses |
5196 |
4629 |
1178 |
14133 |
5768 |
15295 |
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(d) Bad Debts written off |
1532 |
1197 |
828 |
3256 |
2509 |
3507 |
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(e) Contingent Provisions against Standard Assets |
383 |
283 |
- |
958 |
- |
2236 |
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(f) Provision for Bad and Doubtful Debts |
132 |
148 |
185 |
558 |
213 |
2097 |
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(g) Depreciation/Amortisation/Impairment |
2358 |
4686 |
1878 |
11204 |
4418 |
12409 |
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(h) Total Expenditure |
14824 |
16520 |
7029 |
45622 |
21901 |
51904 |
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3. Profit before Other Income, Interest ∓ Finance Charges (1-2) |
53908 |
41656 |
25664 |
132234 |
78491 |
111263 |
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4. Other Income |
564 |
589 |
71 |
1288 |
357 |
642 |
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5. Profit before Interest ∓ Finance Charges (3+4) |
54472 |
42245 |
25735 |
133522 |
78848 |
111905 |
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6. Interest ∓ Finance Charges |
50185 |
37292 |
19569 |
115318 |
54026 |
83008 |
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7. Profit from Ordinary Activities before Tax (5-6) |
4287 |
4953 |
6166 |
18204 |
24822 |
28897 |
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8. Tax Expenses |
2045 |
2279 |
2077 |
7356 |
8816 |
9279 |
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9. Net Profit for the period/year (before adjustment for Minority Interest) (7-8) |
2242 |
2674 |
4089 |
10848 |
16006 |
19618 |
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10. Share of Profit/(Loss) of Minority Interest |
302 |
214 |
65 |
988 |
(498) |
1694 |
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11. Net Profit for the period/year (9-10) |
1940 |
2460 |
4024 |
9860 |
16504 |
17924 |
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12. Paid (Xetra: A0BL4Z - news) -up equity share capital (Face Value ` 10/- each) |
50324 |
50324 |
11629 |
50324 |
11629 |
50324 |
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13. Reserves excluding Revaluation Reserve |
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256482 |
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14. Earnings per share- Basic (`) |
*0.39 |
*0.49 |
*1.92 |
*1.96 |
*7.89 |
7.74 |
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15. Earnings per share- Diluted (`) |
*0.39 |
*0.49 |
*1.92 |
*1.96 |
*7.89 |
7.74 |
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16. Public shareholding (excluding Global Depository Receipts) |
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- Number of Shares |
268982714 |
270555417 |
81260813 |
268982714 |
81260813 |
270555417 |
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- Percentage of Shareholding |
53.47 |
53.78 |
69.97 |
53.47 |
69.97 |
53.78 |
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17. Promoters and promoter group shareholding |
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(a) Pledged/Encumbered |
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- Number of Shares |
- |
- |
- |
- |
- |
- |
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- % of Shares (to total shareholding of promoter and promoter group) |
- |
- |
- |
- |
- |
- |
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- % of Shares (to total share capital of the company) |
- |
- |
- |
- |
- |
- |
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(b) Non Encumbered |
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- Number of Shares |
234082019 |
232509316 |
34871985 |
234082019 |
34871985 |
232509316 |
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- % of Shares (to total shareholding of promoter and promoter group) |
100 |
100 |
100 |
100 |
100 |
100 |
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- % of Shares (to total share capital of the company) |
46.53 |
46.22 |
30.02 |
46.53 |
30.02 |
46.22 |
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* Not annualized |
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Segment wise Revenue, Result and Capital Employed as per Clause 41 of Listing Agreement |
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(` in Lakh) |
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Quarter ended |
Nine Months ended |
Accounting Year ended |
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Particulars |
31-Dec-11 |
30-Sep-11 |
31-Dec-10 |
31-Dec-11 |
31-Dec-10 |
31-Mar-11 |
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(Reviewed) |
(Reviewed) |
(Reviewed) |
(Reviewed) |
(Reviewed) |
(Audited) |
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1. Segment Revenue |
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(a) Financial Services |
59902 |
51762 |
32383 |
154989 |
98120 |
139067 |
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(b) Infrastructure Equipment Services |
10317 |
5391 |
- |
23035 |
- |
23273 |
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(c) Others |
687 |
3234 |
643 |
5609 |
3542 |
6093 |
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70906 |
60387 |
33026 |
183633 |
101662 |
168433 |
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Less: Inter Segment Revenue |
1610 |
1622 |
262 |
4489 |
913 |
4624 |
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Net Income from Operations |
69296 |
58765 |
32764 |
179144 |
100749 |
163809 |
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2. Segment Results |
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(a) Financial Services |
2948 |
4011 |
5915 |
15021 |
25509 |
27958 |
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(b) Infrastructure Equipment Services |
1603 |
1083 |
- |
3698 |
- |
2571 |
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(c) Others |
(51) |
150 |
358 |
134 |
(414) |
(1136) |
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Total |
4500 |
5244 |
6273 |
18853 |
25095 |
29393 |
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Less: Interest ∓ Finance Charges |
213 |
291 |
107 |
649 |
273 |
496 |
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Other Un-allocable Expenditure (Net (Frankfurt: A0Z22E - news) ) |
- |
- |
- |
- |
- |
- |
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Un-allocable Income |
- |
- |
- |
- |
- |
- |
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Total Profit Before Tax |
4287 |
4953 |
6166 |
18204 |
24822 |
28897 |
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3. Capital Employed |
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(Segment Assets-Segment Liabilities) |
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(a) Financial Services |
272312 |
284861 |
139119 |
272312 |
139119 |
277912 |
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(b) Infrastructure Equipment Services |
21593 |
17738 |
- |
21593 |
- |
18226 |
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(c) Others |
38932 |
27403 |
18774 |
38932 |
18774 |
28966 |
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(d) Un-allocable |
(5478) |
(5332) |
(9702) |
(5478) |
(9702) |
(10919) |
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Total |
327359 |
324670 |
148191 |
327359 |
148191 |
314185 |
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Notes: |
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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 (SNP: ^BSEY - news) (www.bseindia.com) and / or NSE (www.nseindia.com). |
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2. |
The above unaudited consolidated financial results were reviewed by the Audit Committee at its meeting held on 3rd February, 2012 and approved by the Board of Directors at its meeting held on the same date. 'Limited Review' as required under clause 41 of Listing Agreeement has been carried out by the Statutory Auditors. |
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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. |
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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. |
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5. |
Company's standalone financial information (` in Lakhs) is as below: |
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Quarter ended |
Nine Months ended |
Year end |
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Particulars |
31-Dec-11 |
30-Sep-11 |
31-Dec-10 |
31-Dec-11 |
31-Dec-10 |
31-Mar-11 |
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(Reviewed) |
(Reviewed) |
(Reviewed) |
(Reviewed) |
(Reviewed) |
(Audited) |
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Turnover |
33878 |
26832 |
16163 |
83254 |
53010 |
74624 |
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Profit Before Tax |
276 |
920 |
3476 |
5903 |
17610 |
21214 |
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Profit After Tax |
12 |
796 |
2315 |
4137 |
11808 |
13430 |
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6. |
The Company has come out with a public issue of Long Term Infrastructure Bonds in the nature of Secured Redeemable Non-Convertible Debentures ("Tax Saving Infra Bonds") having benefits under section 80 CCF of the Income Tax Act, 1961. The total issue size is Rs. 500 Crores. Tranche 1 issue size of Rs. 300 Crores opened for subscription on 31st December, 2011. |
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7. |
The financial results of a foreign subsidiary (including its subsidiaries and joint venture), certain 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. |
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8. |
Due to sudden depreciation of Indian Rupee against US Dollar, the Company has provided for MTM losses (i.e. losses arising out of restatement of foreign currency monetary items, other than realised and/or crystallised) amounting to ` 7,106 lakhs and ` 11,048 Lakh for the quarter and nine months ended 31st December, 2011 respectively as against a gain of ` 172 Lakh and ` 1,212 Lakh for the quarter and nine months ended 31st December, 2010 respectively . |
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9. |
Information on Investor complaints for the quarter ended 31st December, 2011 - (Nos.): Opening Balance - Nil, New - 2, Disposal - 2 and Closing Balance - Nil. |
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10. |
Figures for the quarter and nine months ended 31st December, 2011 and 31st December, 2010 are not comparable due to amalgamation of Quippo Infrastructure Equipment Limited into and with the Company w.e.f. 1st April, 2010, pursuant to the Scheme of Amalgamation sanctioned by the Hon'ble High Court of Calcutta vide its order made on 18th January, 2011. |
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11. |
Figures pertaining to previous periods have been rearranged/regrouped, reclassified and restated, wherever considered necessary, to conform to the classification adopted in the current period. |
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For and on behalf of the Board of Directors |
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Place: Kolkata |
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Hemant Kanoria |
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Date: 3rd February, 2012 |
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Chairman and Managing Director |
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