Reliance Infrastructure Limited
NSE Symbol RELINFRA
RELIANCE INFRASTRUCTURE has declared lack lustre results for FY 2011 both on consolidated and on stand alone basis.
Net Sales on Consolidated (CS) basis for FY 11 is Rs.14918.97 Cr – up by 2.74% from FY 10 and Up by 19.34% from FY 09. The same on Non-consolidated basis (NC) is Rs.9195.43 Cr – down by 6.00% from FY 10 and down by 4.41% from FY 09.
Total Expenditure on CS basis for FY 11 is Rs.13973.97 Cr - up by 1.14% from FY 10 and up by 18.77% from FY 09. The same on NC basis is Rs.8750.28 cr – down by 5.18% from FY 10; and down by 3.66% from FY 09.
Profit from Operations on CS Basis is Rs.1434.32 Cr – up by 36.88% from FY 10; and Up by 32.92% from FY 09. The same on NC Basis is Rs.864.31 Cr – Up by 8.13% from FY 10; and Up by 9.96% from FY 09.
Profit( before tax) on CS basis for FY 11 is Rs.1355.84 Cr – up by 0.61% from FY 10; and up by 1.37% from FY 09; The same on NC Basis is Rs.1135.05 Cr – down by 12.48% from FY 10 and down by 4.89% from FY 09.
Net Profit (on CS Basis) for FY 11 is Rs.1229 cr – up by 2.61% from FY 10 and Down by 2.39% from FY 09. The same on NC Basis is Rs.1080.91 Cr – down by 6.15% from FY 10 and down by 5.09% from FY 09.
Consolidated NPT for FY 11 is Rs.1551.61 cr – up by 2.12% from FY 10 and up by 14.66% from FY 09.
Basic EPS on CS Basis for FY 11 is Rs.62.05, against Rs.67.43 for FY 10; and Rs.58.75 for FY09. The same on NC basis for FY 11 is Rs.43.23, compared to Rs.51.11 for FY 10 and Rs.49.45 in FY 09.
The company is presently Buying Back its own shares – details of which can be seen in the Announcements section below.
The following are the main projects of R Infra :
ROADS : At present, RInfra Says – it has eleven projects with a total length of 968 kms, costing around Rs.11700 crores. Out of them, NK Toll and DS Toll Road projects; both on National highways (NH) 7 are completed and are commercially in operation from Sep 09.
NHAI is coming out with 10 Mega Highway Projects and major 6 laning projects for an increased utilisation of India’s road potential. Taking advantage of this opportunity, RInfra is targeting to build road business up to Rs 20000 crores by end of this financial year. This showcases the initiatives that RInfra is adopting proactively to build roads that are an amalgamation of corridors to propel India’s growth and development.
METRO PROJECTS : (i) Three Projects of Rs.160 billion in Mumbai and Delhi (ii) Total Track Length of 43 kms in Mumbai Projects (iii) Total Track Length of 23 kms in Delhi Project
AIRPORTS : RADPL (of R Infra) operates five airports in Maharashtra, viz. Nanded, Latur, Baramati, Yavatmal and Osmanabad, and is currently planning for a greenfield airport in Madhya Pradesh.
CEMENT : Reliance Infrastructure enters into Cement manufacturing through its subsidiary, Reliance Cementation Pvt. Ltd. (RCPL).In the long run, Reliance Cementation aims to carve a niche for itself in the Cement market by establishing a capacity of 50 MTPA (Million tons per annum) through organic and inorganic growth. The first two projects from the house of Reliance Cementation will be located at Maihar, Madhya Pradesh and Mukutban, Maharashtra. Pegged at 5 MTPA each, these two plants will set the foundation for the upcoming projects thereon. However, a grinding unit at Butibori, Maharashtra will be the first operational unit from this stable with an initial capacity of 0.6 MTPA. This unit is slated for commissioning in March/April, 2012.
REAL ESTATE & SEZ :
(i) RInfra has been awarded the Hyderabad Trade Tower and Business District Project by Andhra Pradesh Industrial Investment Corporation (APIIC) through competitive bidding. The project entails development of a 100-storied tower along with other commercial developments on a 76 acre plot in western Hyderabad on the upcoming outer ring road.
(ii) It is also developing a 45 acre IT special economic zone, through a subsidiary as a part of its Dhirubhai Ambani Knowledge City campus at Navi Mumbai. The development would have around 4 million sq.feet of office space along with a 4 star hotel. Various permissions from MIDC as well as the final SEZ approval from the Ministry of Commerce of GOI have been obtained.
(iii) It is also have a number of other real estate and SEZ projects in various stages of bidding / negotiation / planning with over 400 million sq.feet of mixed use built up potential including Jaipur Ring Road and township, Noida Multiproduct SEZ, etc.
It appears that many of these projects have long gestation periods. Therefore – R Infra’s share price performance may hinge on its quick Project execution skills in future – especially road building whose gestation period may be lower.
CONSOLIDATED & NON CONSOLIDATED RESULTS :
| FY11CS | ||||||
| Net Sales | 1,491,897.00 | 1,452,138.00 | 1,250,126.00 | 919,543.00 | 978,261.00 | 961,985.00 |
| Other Optg Incom | 48,932.00 | 34,344.00 | 34,341.00 | 41,916.00 | 24,465.00 | 24,876.00 |
| Raw Materials | 1,125,350.00 | 1,124,024.00 | 993,343.00 | 686,261.00 | 742,432.00 | 738,726.00 |
| Employees Cost | 100,149.00 | 94,652.00 | 63,146.00 | 76,218.00 | 65,286.00 | 53,662.00 |
| Depreciation | 48,247.00 | 47,244.00 | 33,038.00 | 31,341.00 | 31,984.00 | 24,488.00 |
| Other Expenditure | 123,651.00 | 115,775.00 | 87,033.00 | 81,208.00 | 83,092.00 | 91,380.00 |
| Total Expenditure | 1,397,397.00 | 1,381,695.00 | 1,176,560.00 | 875,028.00 | 922,794.00 | 908,256.00 |
| Profit from Oper. | 143,432.00 | 104,787.00 | 107,907.00 | 86,431.00 | 79,932.00 | 78,605.00 |
| Other Income | 55,648.00 | 82,485.00 | 69,781.00 | 51,319.00 | 78,983.00 | 73,788.00 |
| Profit bef. In & EI | 199,080.00 | 187,272.00 | 177,688.00 | 137,750.00 | 158,915.00 | 152,393.00 |
| Interest | 63,496.00 | 52,513.00 | 43,942.00 | 24,245.00 | 29,221.00 | 33,050.00 |
| Profit( before tax | 135,584.00 | 134,759.00 | 133,746.00 | 113,505.00 | 129,694.00 | 119,343.00 |
| Tax Expense | 12,684.00 | 14,983.00 | 7,832.00 | 5,414.00 | 14,525.00 | 5,455.00 |
| Net Profit | 122,900.00 | 119,776.00 | 125,914.00 | 108,091.00 | 115,169.00 | 113,888.00 |
| Minority Interest | 33 | -18 | -72 | | | |
| Shares of Assoc. | -32,294.00 | -32,145.00 | -9,337.00 | | | |
| Consol. NPT | 155,161.00 | 151,939.00 | 135,323.00 | | | |
| Face Value (Rs.) | 10 | 10 | 10 | 10 | 10 | 10 |
| Paid-up Equity | 26,747.00 | 24,492.00 | 22,606.00 | 26,747.00 | 24,492.00 | 23,606.00 |
| Reserves | 2,285,826.00 | 1,938,222.00 | 1,529,830.00 | 1,691,816.00 | 1,383,035.00 | 1,030,814.00 |
| Basic EPS | 62.05 | 67.43 | 58.75 | 43.23 | 51.11 | 49.45 |
| Diluted EPS | 58.16 | 66.39 | 57.68 | 40.51 | 50.32 | 48.54 |
| Public holding% | 52.27 | 57.27 | 62.44 | 52.27 | 57.27 | 62.44 |
ANNOUNCEMENTS TO NSE
22-06-2011 Number of Equity Shares bought back on June 22, 2011: 50,000 Equity Shares.
20-06-2011 "RInfra bought-back 1,00,000 equity shares today".
17-06-2011 Number of Equity Shares bought back on June 16, 2011: 25,000 Equity Shares.
09-06-2011 Number of Equity Shares bought back on June 08, 2011: 25,000 Equity Shares.
06-06-2011 "RInfra bought-back 1,00,000 equity shares during the week".
03-06-2011 Number of Equity Shares bought back on June 02, 2011: 25,000 Equity Shares.
28-05-2011 "Consolidated Net Profit of Rs. 1,552 crore (US$ 348 Million) for the year - an increase of 2%".
27-05-2011 Reliance Infrastructure Limited has recommended a Dividend of Rs. 7.20 per Equity Share for the year 2010-11.
27-05-2011 Reliance Infrastructure Limited standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 919543 lacs for year ending on 31-MAR-2011 against Rs. 978261 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 108091 lacs for the year ending on 31-MAR-2011 against Rs. 115169 lacs for the year ending on 31-MAR-2010.
27-05-2011 Reliance Infrastructure Limited consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 1491897 lacs for year ending on 31-MAR-2011 against Rs. 1452138 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 155161 lacs for the year ending on 31-MAR-2011 against Rs. 151939 lacs for the year ending on 31-MAR-2010.
26-05-2011 "RInfra bought-back 2,00,000 equity shares today".
18-05-2011 "RInfra bought-back 1,00,000 equity shares today".
12-05-2011 "RInfra bought-back 1,00,000 equity shares today".
09-05-2011 Number of Equity Shares bought back on May 06, 2011: 100,000 Equity Shares.
05-05-2011 "RInfra bought-back 2,00,000 equity shares today".
04-05-2011 "RInfra bought-back 1,00,000 equity shares today".
28-04-2011 "RInfra bought-back 2,00,000 equity shares today".
25-04-2011 "RInfra bought-back 1,00,000 equity shares today".
21-04-2011 "RInfra bought-back 1,00,000 equity shares today".
20-04-2011 "RInfra bought-back 1,00,000 equity shares today".
19-04-2011 Number of Equity Shares bought back on April 19, 2011: 100,000 Equity Shares.
19-04-2011 "RInfra bought-back 1,00,000 equity shares today".
18-04-2011 "RInfra bought-back 1,00,000 equity shares today".
13-04-2011 Number of Equity Shares bought back on April 13, 2011: 100,000 Equity Shares.
13-04-2011 "RInfra commenced buy-back from today and bought back 2,00,000 equity shares".
13-04-2011 "RInfra bought-back 1,00,000 equity shares today".
11-04-2011 Number of Equity Shares bought back on April 11, 2011: 200,000.
29-03-2011 ICICI Securities Limited has informed the Exchange regarding Public Announcement in Compliance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, as amended. The offer and the Buy-back price : Reliance Infrastructure Limited (the "Company" or "RInfra") hereby announces the Buy-back of its fully paid-up equity shares of the face value Rs 10 each ("equity shares") from the existing owners of equity shares (the "Buy-Back") from the open market through stock exchanges using the electronic trading facilities of the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") in accordance with the provisions of Sections 77A,77AA and 77B of the Companies Act, 1956 (the "Act") and the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998 (the "Buy-Back Regulations") and the relevant provisions of the Articles of Association of the Company subject to approval/s as may be necessary at a price not exceeding Rs 725 per equity share ("Maximum Buy-back Price") payable in cash, for an aggregate amount not exceeding Rs.1000 crore ("Offer Size") which represents approximately 8.34% of the aggregate of the Company's paid up equity share capital as on the date of the Board Meeting at which the Buy-back was approved i.e. February 14, 2011 and free reserves as on March 31, 2010 (the date of the latest audited accounts). Date of opening of the proposed Buy-back : April 05, 2011; Last Date for the proposed Buy Back : February 13, 2012.
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