RNS Number : 3440W
Noida Toll Bridge Co. Ltd.
06 November 2014
Noida Toll Bridge Company Limited
("NTBCL" or the "Company")
AUDITED FINANCIAL RESULTS UNDER INDIAN GAAP FOR THE QUARTER AND HALF YEAR ENDED SEPTEMEBER 30, 2014
Regd. Office: Toll Plaza, DND Flyway, Noida 201 301, Uttar Pradesh, India
The Board of Directors of Noida Toll Bridge Company Limited ("NTBCL") approved the Company's results for the half year ended September 30, 2014, today.
NTBCL has reported a PBT of Rs. 402.76 million for the half year ended30 September 2014 as against Rs. 352.60 million in the corresponding half year of the previous year.
The profit after tax for the half year ended 30 September 2014 has been Rs. 388.44 million compared to Rs. 239.60 million of the corresponding half year of the previous year.
For further details please contact:
Noida Toll Bridge Company Limited Harish Mathur
00 91 120 2516380
Cairn Financial Advisers LLP Sandy Jamieson
00 44 207 148 7900
(Rs. in Lacs)
(Rs. in Lacs)
Sl.No.
Particulars
Quarter ended
Quarter ended
Quarter ended
Half year ended
Half year ended
Year ended
30.09.2014
30.06.2014
30.09.2013
30.09.2014
30.09.2013
31.03.2014
(Audited)
(Audited)
(Audited)
(Audited)
(Audited)
(Audited)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
1
Income from operations
3,051.62
2,963.64
2,927.41
6,015.26
5,785.31
11,937.27
Total Revenue
3,051.62
2,963.64
2,927.41
6,015.26
5,785.31
11,937.27
2
Total Expenditure
a)O & M Expenses
286.52
299.96
248.54
586.48
504.00
1,038.24
b)Employee Benefit Expenses
70.48
63.15
71.18
133.63
137.52
251.73
c)Legal and Professional Charges
57.92
56.50
50.39
114.42
125.19
245.04
d)Rates & Taxes
170.82
151.51
296.37
322.33
418.42
751.14
e)Depreciation/Amortisation
46.15
43.40
50.24
89.55
100.99
195.20
f) Overlay
116.22
100.32
204.03
216.54
432.55
582.73
g)Other expenditure
131.70
100.43
71.13
232.13
127.51
255.87
Total Expenditure
879.81
815.27
991.88
1,695.08
1,846.18
3,319.95
3
Profit from Operations before Other Income, Finance cost & Exceptional items (1-2)
2,171.81
2,148.37
1,935.53
4,320.18
3,939.13
8,617.32
4
Other Income
99.69
15.26
120.86
114.95
239.36
499.89
5
Profit from ordinary activities before Finance Cost & Exceptional items (3+4)
2,271.50
2,163.63
2,056.39
4,435.13
4,178.49
9,117.21
6
Finance Cost
349.48
58.02
458.37
407.50
652.51
894.36
7
Profit from ordinary activities after Finance Cost but before Exceptional items (5-6)
1,922.02
2,105.61
1,598.02
4,027.63
3,525.98
8,222.85
8
Exceptional items
-
-
-
-
-
-
9
Profit from Ordinary Activities before tax (7-8)
1,922.02
2,105.61
1,598.02
4,027.63
3,525.98
8,222.85
10
Tax Expenses
73.00
70.20
500.00
143.20
1,130.00
2,747.48
11
Net Profit from Ordinary Activities after tax (9-10)
1,849.02
2,035.41
1,098.02
3,884.43
2,395.98
5,475.37
12
Extraordinary items (Net of tax expense)
-
-
-
-
-
-
13
Net Profit for the period (11-12)
1,849.02
2,035.41
1,098.02
3,884.43
2,395.98
5,475.37
14
Paid-up equity share capital
(Face Value Rs 10)
18,619.50
18,619.50
18,619.50
18,619.50
18,619.50
18,619.50
15
Paid-up Debt Capital
N/A
N/A
N/A
2,553.00
5,365.74
2,469.09
16
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
N/A
N/A
N/A
N/A
N/A
30,274.03
17
Debenture Redemption Reserve
N/A
N/A
N/A
491.73
398.31
442.43
18
Earning Per Share (before extraordinary items)
a
Basic
0.99
1.09
0.59
2.09
1.29
2.94
b
Diluted
0.99
1.09
0.59
2.09
1.29
2.94
Earning Per Share (after extraordinary items)
a
Basic
0.99
1.09
0.59
2.09
1.29
2.94
b
Diluted
0.99
1.09
0.59
2.09
1.29
2.94
19
Debt Equity Ratio
N/A
N/A
N/A
0.05
0.10
0.05
20
Debt Service Coverage Ratio (DSCR)
N/A
N/A
N/A
10.88
1.37
1.46
21
Interest Service Coverage Ratio (ISCR)
N/A
N/A
N/A
10.88
6.40
10.20
A
Particulars of Shareholding
1
Public Shareholding
-Number of Shares
137,054,920
137,054,920
137,054,920
137,054,920
137,054,920
137,054,920
- Percentage of Shareholding
73.61%
73.61%
73.61%
73.61%
73.61%
73.61%
2
Promoters and promoter group Shareholding
a
Pledged/Encumbered
-Number of Shares
NIL
NIL
NIL
NIL
NIL
NIL
- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
N/A
N/A
N/A
N/A
N/A
N/A
- Percentage of Shares (as a % of the total share capital of the company)
N/A
N/A
N/A
N/A
N/A
N/A
b
Non-encumbered
-Number of Shares
49,095,007
49,095,007
49,095,007
49,095,007
49,095,007
49,095,007
- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
- Percentage of Shares (as a % of the total share capital of the company)
26.37%
26.37%
26.37%
26.37%
26.37%
26.37%
B
Investors Complaints
3 months ended 30-September-2014
Pending at the beginning of the quarter
-
Received during the quarter
36
Disposed of during the quarter
36
Remaining unresolved at the end of the quarter
-
Notes:
1
The above results have been taken on record by the Board of Directors at a meeting held on November 06, 2014.
2
The Company had only one business segment and therefore reporting of segment wise information under Clause 41 of the Listing Agreement is not applicable.
3
New Okhla Industrial Development Authority has initiated preliminary discussion with the Company to consider modification of some of the tems and conditions of the Concession Agreement. Pending final outcome of such discussions the accounts have been prepared based on the extant Concession Agreement and after considering technical and economic life of the Bridge.
4
The Board of Directors at its meeting held on November 6,2014, has declared an interim dividend of Rs 1.00 per equity share
5
The figures for the quarter ended September are the balancing figures between audited figures in respect of the half year then ended and the published figures of first quarter.
6
Coverage Ratios has been Calculated as under ;
a)
Debt Equity Ratio = Total Debt/(Paid-up Equity Share Capital+Reserves excluding Revaluation Reserve)
b)
Debt Service Coverage Ratio= Profit before Interest,Exceptional Items & tax / (Interest+Principal Repayment)
c)
Interest Service Coverage Ratio= Profit before Interest,Exceptional Items & tax / Interest Expenses
7
Previous period figures have been regrouped / reclassified wherever necessary.
Statement of Assets and Liabilities (Audited)
(Rs in Lacs)
(Rs in Lacs)
Particulars
As at
As at
30-Sep-14
31-Mar-14
A
EQUITY AND LIABILITIES
1
Shareholders' fund
(a) Share Capital
18,619.50
18,619.50
(b) Reserves & Surplus
31,924.23
30,274.03
Sub-total-Shareholders' funds
50,543.73
48,893.53
2
Non-current liabilities
(a) Long-term borrowings
2,053.00
1,969.09
(b) Deferred tax liabilities (net)
7,266.12
7,122.92
(c) Other long-term liabilities
329.23
328.68
(d) Long-term provisions
509.12
417.68
Sub-total-Non-current liabilities
10,157.47
9,838.37
3
Current liabilities
(a) Trade payables
19.69
15.93
(b) Other current liabilities
3,463.20
1,415.43
(c) Short-term provisions
3,513.02
4,443.79
Sub-total current liabilities
6,995.91
5,875.15
TOTAL- EQUITY AND LIABILITIES
67,697.11
64,607.05
B
ASSETS
1
Non-current assets
(a) Fixed assets
Tangible assets
499.85
506.79
Intangible assets
56,815.55
56,880.00
(b) Non-current investments
2.55
2.55
(c) Long-term loans and advances
5,918.15
5,057.69
Sub-total-Non-current assets
63,236.10
62,447.03
2
Current assets
(a) Current investments
1,617.42
602.94
(b) Inventories
44.19
19.20
(c) Trade receivables
215.66
129.08
(d) Cash and cash equivalents
2,164.61
1,004.20
(e) Short-term loans and advances
419.13
404.60
Sub-total-current assets
4,461.01
2,160.02
TOTAL- ASSETS
67,697.11
64,607.05
For and on behalf of the Board of Directors
Auditors' Report on Quarterly financial results and year to date financial results of Noida Toll Bridge Company Limited pursuant to Clause 41 of the listing agreement
To the Board of Directors,
Noida Toll Bridge Company Limited
Noida
1. We have audited the quarterly financial results of Noida Toll Bridge Company Limited for the quarter ended September 30, 2014 and the year to date results for the period from April 01, 2014 to September 30, 2014 attached herewith, being submitted by the company pursuant to requirement of clause 41 of the listing agreement except for the disclosures regarding 'Public Shareholding' and 'Promoter and Promoter Group Shareholding' which have been traced from disclosures made by the management and have not been audited by us. These quarterly financial results as well as year to date financial results have been prepared on the basis of interim financial statements, which are the responsibility of the company's management. Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard (AS) 25, Interim Financial Reporting, issued pursuant to the Companies (Accounting Standards) Rules, 2006 which continue to apply under section 133 of the Companies Act 2013 and other accounting principles generally accepted in India.
2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by the management. We believe that our audit provides a reasonable basis for our opinion.
3. Without qualifying our report, we draw attention to Note 3 to the financial results which describe significant management estimates, inter-alia considering virtual certainty of extension of concession agreement beyond its primary term, used in preparation of financial results.
4. In our opinion and to the best of our information and according to the explanations given to us these quarterly financial results as well as the year to date results:
i) are presented in accordance with the requirements of the Clause 41 of the Listing Agreement in this regard, and
ii) give the true & fair view of the net profit and other financial information for the quarter ended September 30, 2014 as well as year to date results for the period from April 01, 2014 to September 30, 2014.
5. We further report that we have, on the basis of the books of account and other records and information and explanations given to us by the management, also verified the number of shares as well as percentage of shareholdings in respect of aggregate amount of public shareholding as furnished by the company in terms of clause 35 of the Listing Agreement and found the same to be correct.
For Luthra & Luthra
Chartered Accountants,
Reg. No. 002081N
Amit Luthra
Date: November 06, 2014
Partner
Place: Noida
(M.No. 85847)
This information is provided by RNS
The company news service from the London Stock Exchange
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