Management Presentation Performance Highlights Q1 FY12 Q: Rural Electrification Corporation Limited

Management Presentation
Performance Highlights
Q1 FY12
Q
RURAL ELECTRIFICATION CORPORATION LIMITED

A Navratna PSU
HIGHLIGHTS (Q1 FY12 VS. Q1 FY11)
Balance Sheet
Total Assets (net of current liabilities) increased by 23% from

` 69,154 Crores to ` 84,871 Crores.
Outstanding Borrowings increased by 24% from ` 57,493
Crores to ` 71,420 Crores
Net worth increased by
y 15% from ` 11,668
,
Crores to ` 13,451
,
Crores.
Income
Statement
Total Income increased by 23% from ` 1,929 Crores to ` 2,373

C
Crores.
Profit before tax increased by 13% from ` 793 Crores to ` 896
Crores.
PAT increased by 13% from ` 587 Crores to ` 662 Crores.
Business
Disbursements increased by 18% from ` 4,644 Crores to ` 5,481

Crores.
S
Sanctions
ti
d i
during
th quarter
the
t
were ` 21,190
21 190 Crores
C
against
i t
` 22,882 Crores.
2
SANCTIONS - COMPOSITION
(` In Crores)
Sanctions
Discipline-wise
Discipline
wise
Q1
Q1
Q2
Q3
Q4
12M
12M
12 M
FY 12
FY 11
FY 11
FY 11
FY 11
FY 11
FY 10
FY 09
Amount
Amount Amount Amount Amount Amount Amount Amount
15,171
11,177
4,796
6,325
18,077
40,375
24,032
21,708
72%
49%
46%
60%
80%
61%
53%
53%
4,969
11,205
4,492
3,266
3,475
22,438
17,235
16,938
23%
49%
43%
31%
15%
34%
38%
42%
1,050
500
1100
1000
1,008
3,608
4,090
2,100
5%
2%
11%
9%
5%
5%
9%
5%
21,190
22,882
10,388
10,591
22,560
66,421
45,357
40,746
Generation
Trans. & Dist.
Short Term Loan
Total
DISBURSEMENTS - COMPOSITION
(` In Crores)
Q1
Q1
Q2
Q3
Q4
12M
12M
12 M
FY 12
FY 11
FY 11
FY 11
FY 11
FY 11
FY 10
FY 09
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
2,998
3,239
2,759
2,185
3,571
11,754
8,397
7,850
55%
70%
50%
36%
43%
48%
40%
46%
1,883
1,205
1,988
2,523
3,937
9,653
8,945
7,267
34%
26%
36%
42%
47%
39%
42%
42%
600
200
800
1,300
812
3,112
3,790
2,040
Short Term Loan
11%
4%
14%
22%
10%
13%
18%
12%
Total
5,481
4,644
5,547
6,008
8,320
24,519
21,132
17,157
Disbursements
Discipline - wise
Generation
Transmission
& Distribution
OUTSTANDING LOAN - COMPOSITION

(` In Crores)
Loan
Outstanding
Discipline
Q1
Q1
Q2
Q3
Q4/12M
12M
12M
FY 12
FY 11
FY 11
FY 11
FY 11
FY 10
FY 09
Amount
Amount
Amount
Amount
Amount
Amount
Amount
State
70,681
82
59,505
86
62,671
86
63,310
86
68,092
83
55,574
84
43,303
85
Central PSUs
5,917
5,134
5,407
5,535
5,853
6,145
4,324
Private
9 227
9,227
11
4 578
4,578
4 822
4,822
6 899
6,899
7 780
7,780
10
4 260
4,260
3 026
3,026
Total
85,825
100
69,217
100
72,900
100
75,744
100
81,725
100
65,979
100
50,653
100
Generation
37,329
44
28,549
41
30,663
42
31,462
41
34,610
42
23,958
36
17,501
35
T&D
43 076
43,076
50
35 337
35,337
51
37 261
37,261
51
39 159
39,159
52
41 774
41,774
51
36 723
36,723
56
29 275
29,275
57
Others
5,420
5,331
4,976
5,123
5,341
5,298
3,877
Average rates
on outstanding
(
(compounded
d d
annualised)
(1)
(2)
11.76
11.59
11.60
11.45
11.68
11.45
Excludes interest accrued and due.

Includes short-term loans, debt refinancing, bridge loans, loans to equipment manufacturers, equipment leasing finance.
11.34
LOAN QUALITY
(` In Crores)
P ti l
Particulars
L
Loan
outstanding
t t di
Gross NPA
Provision
Net NPA
% of Gross NPA to loan
outstanding
t t di
% of Net NPA to loan

outstanding
Q1
Q1
Q2
Q3
Q4/12M
12M
12 M
FY 12
FY 11
FY 11
FY 11
FY 11
FY 10
FY 09
85 825
85,825
69 217
69,217
72 900
72,900
75 744
75,744
81 725
81,725
65 979
65,979
50 653
50,653
270
20
20
20
20
20
69
43
18
18
18
18
18
48
227
21
0.31%
0.03%
0.03%
0.03%
0.02%
0.03%
0.14%
0.264%
0.003%
0.003%
0.003%
0.002%
0.003%
0.041%
* Loan outstanding represents principal outstanding excluding interest accrued and due.
6
FUNDS RAISED DURING THE PERIOD

(` In Crores)
Q1
Q1
Q2
Q3
Q4
12 M
12 M
12M
FY 12
FY 11
FY 11
FY 11
FY 11
FY 11
FY 10
FY 09
Amount
Amount
Amount
Amount
Amount
Amount
Amount
Amount
1 053
1,053
925
1 093
1,093
1 116
1,116
1 911
1,911
5 045
5,045
3 058
3,058
2 525
2,525
6.00%
6.00%
6.00%
6.00%
6.00%
6.00%
6.25%
6.01%
217
217
8.14%
8.14%
1,925
1,250
2,000
3,804
3,116
10,170
13,529
8,930
9.71%
6.92%
7.82%
8.65%
9.16%
8.43%
8.19%
10.67%
900
2,200
1,126
500
4,725
6,835
2,983
5.12%
8.13%
8.52%
8.14%
8.20%
6.04%
8.85%
59
100
1,942
358
3,298
5,698
606
457
5.12%
6.12%
6.95%
3.00%
3.44%
3.84%
6.88%
7.74%
3,037
3,175
7,235
6,404
9,042
25,855
24,028
14,895
Total
8.34%
6.12%
(%) Denotes Average cost of borrowing
7.41%
7.84%
6.32%
6.90%
7.31%
9.30%
Category
Capital Gains
Bonds
Infrastructure
Bonds
Taxable Bonds
Banks,
B
k FI
FIs, CP ,
etc.
Foreign
Currency
% denotes average annualized cost of borrowing.
BORROWING PROFILE AS AT
END OF THE PERIOD
(` In Crores)
Particulars
Q1
FY 12
Q1
FY 11
Q2 & H1
FY 11
Amount
Amount
Amount
Capital Gains & Infra

Bonds
12,098
17
10839
19
Institutional Bonds
& Zero Coupon
Bonds
41,607
58
31930
Banks, FIs, etc.
10,087
14
Foreign Currency
7,628
Commercial paper
Grand Total
Average annualized
borrowing cost
*
Q3 & 9M
FY 11
Q4 & 12 M
FY 11
12 M
FY 10
12 M
FY 09
% Amount
% Amount
% Amount
% Amount
10265
17
10541
17
11316
16
9,949
18
14,394
32
55
33880
56
36997
59
39879
57
30,909
55
18,218
41
10270
18
10764
18
11035
17
11226
16
10,564
19
9,535
21
11
2154
4069
4402
7583
11
2,076
1,494
2300
1450
250
2 450
2,450
1 295
1,295
71,420
100
57493
100
60428
100
63225
7.97
9
7.76
6
Q2 7.96
H1 7.82
100 70,004 100 55,948 100 44,936 100
Q3 8.00
9M 7.85
Q4 7.76
12M 7.62
7.75
7.70
0
The Borrowing cost is without taking into account one time arrangers fee of ` 34.61 crore (Q2 ), ` 2.34 crore (Q3), ` 13.95 crore , totaling ` 50.90 crore paid during FY
11 for raising of 5 years External Commercial Syndicated Loans.
BALANCE SHEET
(` In Crores)
Particulars
2011-12
2010-11
FY 10
12M
FY 09
12M
Q1
Q1
Q2 & H1
Q3 & 9M
12M
Shareholders Funds
13 451
13,451
11,668
12,286
12,547
12,788
11,080
6,190
Borrowings
71,420
57,493
60,428
63,225
70,004
55,948
44,936
Total Liabilities
84,871
69,161
72,714
75,772
82,792
67,028
51,126
Fixed Assets (Net)
88
89
89
88
88
90
81
Investments
813
933
1,032
885
812
910
1,005
86,247
69,791
73,543
76,455
82,132
66,452
51,381
13
13
-957
957
Current Assets (Net)
-2290
-1,659
-1,958
-1663
-253
-431
-384
Total Assets
84,871
69,161
72,714
75,772
82,792
67,028
51,126
Liabilities
A
Assets
t
Loan Assets (including

interest accrued)
Deferred Tax Assets/
(Liability)
INCOME STATEMENT
(` In Crores)
Particular
2011-12
2011
12
Q1
2010 11
2010-11
Q1
Q2
Q3
Q4
FY11
12 M
FY 10
12M
FY 09
12M
Interest Income
2,313
1,877
1,988
2,086
2,158
8109
6,431
4,665
Interest Expenses
1,403
1,101
1208
1238
1,304
4851
3,911
2,897
910
776
780
848
854
3258
2,520
1,768
22
38
49
22
29
34
39
55
38
56
36
39
30
118
56
148
238
167
119
158
148
Net Interest Income

Other Operating Income
Other Income
Operating costs
Provisions for doubtful
debts
Profit Before Tax
25
896
793
836
901
946
3477
2 649
2,649
Current Tax
234
206
218
233
251
908
695
507
-5
-5
141
-48
662
587
618
664
700
2570
2,001
,
326
662
587
618
664
700
2570
2,327
Dividend (inc. Interim)
346
395
741
603
386
Dividend Distribution Tax
57
64
121
101
66
Total (Dividend +Dividend

Dist. Tax)
403
459
862
704
452
Deferred tax
Previous years
(Tax Refunds)
Profit After Tax
Reversal of Deferred Tax
of earlier years
Profit after tax and
available for appropriation
92
174
112
2
1 920
1,920
1,272
,
1,272
10
KEY INDICATORS
Q1
Q1
Q2
Q3
Q4
12 M
12 M
12 M
FY12
FY11
FY11
FY11
FY11
FY11
FY10
FY 09
Yield on Loan (%)

(Annualised)
11.04
11.11
11.20
11.24
10.96
10.98
11.03
10.45
Cost of Borrowing (%)

(Annualised)
7.94
7.76
7.96
7.80
7.76
7.62
7.76
7.32
Interest Spread (%)

(Annualised)
3.10
3.35
3.24
3.44
3.20
3.36
3.27
3.13
Net Interest Margin (%)

(Annualised)
4.34
4.59
4.39
4.56
4.34
4.41
4.32
3.96
Interest Coverage Ratio
1.64
1.72
1.69
1.73
1.73
1.72
1.68
1.66
Return on Avg. Net Worth

(%) (Annualised)
20.18
20.64
20.64
21.39
22.11
21.53
23.17
22.01
Debt Equity Ratio (times)
5.31
4.93
4.92
5.04
5.47
5.47
5.05
7.26
Capital Adequacy Ratio (%)
18.38
21.18
20.61
20.21
19.09
19.09
16.05*
13.41*
Net Worth (` Crores)
13,451
11,668
12,286
12,547
12,789
12,789
11,080
6,190
Book Value per Share (in `)
136.22
118.16
124.42
127.06
129.51
129.51
112.21
72.09
6.70
5.95
6.26
6.72
7.10
26.03
23.06
14.81
Key Indicators
EPS (in `)
* Assumed weightage of 100% on State Government Guaranteed Loans instead of 20% w.e.f. 29.06.2010.
11
SHAREHOLDING PATTERN
As on
As on
As on
As on
As on
As on
30.06.11
31.03.11
31.12.10
30.09.10
30.06.10
31.03.10
President of India
66.80
66.80
66.80
66.80
66.80
66.80
Foreign Institutional
Investors
19 00
19.00
20 77
20.77
21 22
21.22
20 40
20.40
19 33
19.33
17 83
17.83
Resident Individual/ HUF
3.74
3.26
3.16
3.27
3.33
3.70
Mutual Funds
1.97
1.75
1.60
3.15
4.08
4.91
Bodies Corporate
4.96
4.38
4.58
4.29
4.12
4.71
Insurance Companies
2.50
2.41
2.17
1.79
1.72
1.77
Banks/ Indian FI
0.73
0.38
0.29
0.15
0.10
0.16
Non Resident Indian
0.09
0.07
0.06
0.05
0.05
0.06
Clearing Members
0.17
0.16
0.11
0.08
0.45
0.04
Trust
0.04
0.02
0.01
0.02
0.02
0.02
Total
100.00
100.00
100.00
100.00
100.00
100.00
As on
Description
12
THANK YOU
13

Management Presentation Performance Highlights Q1 FY12 Q: Rural Electrification Corporation Limited

Uploaded by

Copyright:

Available Formats

Management Presentation Performance Highlights Q1 FY12 Q: Rural Electrification Corporation Limited

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Management Presentation Performance Highlights Q1 FY12 Q: Rural Electrification Corporation Limited

Uploaded by

Copyright:

Available Formats

Management Presentation

RURAL ELECTRIFICATION CORPORATION LIMITED

HIGHLIGHTS (Q1 FY12 VS. Q1 FY11)

Total Assets (net of current liabilities) increased by 23% from

Total Income increased by 23% from ` 1,929 Crores to ` 2,373

Disbursements increased by 18% from ` 4,644 Crores to ` 5,481

Amount Amount Amount Amount Amount Amount Amount

Trans. & Dist.

Short Term Loan

Short Term Loan

OUTSTANDING LOAN - COMPOSITION

Excludes interest accrued and due.

% of Net NPA to loan

FUNDS RAISED DURING THE PERIOD

% denotes average annualized cost of borrowing.

Capital Gains & Infra

Banks, FIs, etc.

100 70,004 100 55,948 100 44,936 100

Fixed Assets (Net)

Current Assets (Net)

Loan Assets (including

Net Interest Income

Dividend (inc. Interim)

Dividend Distribution Tax

Total (Dividend +Dividend

Yield on Loan (%)

Cost of Borrowing (%)

Interest Spread (%)

Net Interest Margin (%)

Interest Coverage Ratio

Return on Avg. Net Worth

Debt Equity Ratio (times)

Capital Adequacy Ratio (%)

Net Worth (` Crores)

Book Value per Share (in `)

Resident Individual/ HUF

Non Resident Indian

You might also like