RNS Number : 7481D
Noida Toll Bridge Co. Ltd.
01 May 2013
May 1, 2013
Noida Toll Bridge Company Limited
Final Results
The Board of Directors of Noida Toll Bridge Company Limited (NTBCL) approved the Company's results for the year ended March 31, 2013, today.
NTBCL has reported a 23 % increase in PBT at Rs. 659.12 million for the year as compared to Rs.534.84 million in the previous year attributable to a 6 % growth in traffic.
The profit after tax for the year, at Rs. 421.13 million is 7 % lower than the previous years': Rs. 453.21 million. The same is due to increase in deferred tax liability provision.
The Board of Directors have recommended a dividend of 10 % for the full year 2012-13 which is subject to shareholder approval at the forthcoming Annual General Meeting.
For further details please contact:
Noida Toll Bridge Company Limited
Harish Mathur
00 91 120 2516380
Libertas Capital Corporate Finance Limited
Sandy Jamieson
00 44 207 569 9650
AUDITED FINANCIAL RESULTS FOR THE PERIOD ENDED MARCH 31, 2013
(Rs. in Lacs)
Sl.No.
Particulars
Quarter ended
Quarter ended
Quarter ended
Year ended
Year ended
Consolidated Year ended
Consolidated Year ended
31.03.2013
31.12.2012
31.03.2012
31.03.2013
31.03.2012
31.03.2013
31.03.2012
Unaudited
Unaudited
Unaudited
Audited
Audited
Audited
Audited
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
1
Income from operations
2,832.94
2,749.84
2,476.25
10,606.43
9,295.19
10,763.16
9,496.07
Total Revenue
2,832.94
2,749.84
2,476.25
10,606.43
9,295.19
10,763.16
9,496.07
2
Total Expenditure
a)O & M Expenses
263.83
234.70
217.27
953.92
871.00
477.72
471.18
b) Employee Benefit Expenses
60.60
61.42
95.53
245.56
394.36
801.33
896.47
c)Legal and Professional Charges
134.39
60.44
72.55
305.50
271.47
339.36
306.85
d) Rates & Taxes
144.44
126.17
114.72
503.62
431.23
503.63
431.24
e) Depreciation/Amortisation
45.54
45.80
159.39
182.72
482.33
195.38
492.04
f) Overlay
162.23
177.49
92.99
906.38
371.97
906.38
371.97
g)Other expenditure
183.61
54.94
33.64
331.29
177.40
385.33
215.45
Total Expenditure
994.64
760.96
786.09
3,428.99
2,999.76
3,609.13
3,185.20
3
Profit (+) / Loss (-) from Operations before Other Income, Finance cost & Exceptional items (1-2)
1,838.30
1,988.88
1,690.16
7,177.44
6,295.43
7,154.03
6,310.87
4
Other Income
138.09
93.18
383.23
697.32
620.52
703.22
639.51
5
Profit (+) / Loss (-) from ordinary activities before Finance Cost & Exceptional items (3+4)
1,976.39
2,082.06
2,073.39
7,874.76
6,915.95
7,857.25
6,950.38
6
Finance Cost
217.80
240.10
295.14
1,283.60
1,567.52
1,287.49
1,570.53
7
Profit (+) / Loss (-) from ordinary activities after Finance Cost but before Exceptional items (5-6)
1,758.59
1,841.96
1,778.25
6,591.16
5,348.43
6,569.76
5,379.85
8
Exceptional items
-
-
-
-
-
-
-
9
Profit (+) / Loss (-) from Ordinary Activities before tax (7-8)
1,758.59
1,841.96
1,778.25
6,591.16
5,348.43
6,569.76
5,379.85
10
Tax Expenses
631.60
587.33
307.93
2,379.83
816.30
2,381.57
826.85
11
Net Profit(+)/Loss(-) from Ordinary Activities after tax (9-10)
1,126.99
1,254.63
1,470.32
4,211.33
4,532.13
4,188.19
4,553.00
12
Extraordinary items (Net of tax expense)
-
-
-
-
-
-
-
13
Net Profit (+) / Loss (-) for the period (11-12)
1,126.99
1,254.63
1,470.32
4,211.33
4,532.13
4,188.19
4,553.00
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
18,619.50
15
Paid-up Debt Capital
N/A
N/A
N/A
7,679.55
10,856.13
7,679.55
10,856.13
16
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
N/A
N/A
N/A
30,244.69
28,211.82
30,212.84
28,203.10
17
Debenture Redemption Reserve
N/A
N/A
N/A
353.95
275.29
353.95
275.29
18
Earning Per Share (before extraordinary items)
a
Basic
0.61
0.67
0.79
2.26
2.43
2.25
2.45
b
Diluted
0.61
0.67
0.79
2.26
2.43
2.25
2.45
Earning Per Share (after extraordinary items)
a
Basic
0.61
0.67
0.79
2.26
2.43
2.25
2.45
b
Diluted
0.61
0.67
0.79
2.26
2.43
2.25
2.45
19
Debt Equity Ratio
N/A
N/A
N/A
0.16
0.23
0.16
0.23
20
Debt Service Coverage Ratio (DSCR)
N/A
N/A
N/A
1.71
1.47
1.71
1.48
21
Interest Service Coverage Ratio (ISCR)
N/A
N/A
N/A
6.13
4.41
6.10
4.43
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
137,054,920
- Percentage of Shareholding
73.61%
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
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
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
N/A
b
Non-encumbered
- Number of Shares
49095007
49095007
49095007
49095007
49095007
49095007
49095007
- 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%
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%
26.37%
B
Investors Complaints
3 months ended 31-March-2013
Pending at the beginning of the quarter
-
Received during the quarter
41
Disposed of during the quarter
41
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 May 01, 2013.
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
Hitherto the amortisation of Intangible Assets arising out of Service Concession Arrangements was based on units of usage method i.e. on the number of vehicles expected to use the project facility over the concession period as estimated by the management. Based on the notification dated April 17, 2012 issued by Ministry of Corporate Affairs, the Company has changed the method of amortisation of Intangible Assets arising out of Service Concession Arrangements prospectively. Effective April 01, 2012 the amortisation is in proportion to the revenue earned for the period to the total estimated toll revenue i.e. expected to be collected over the balance concession period. Had the Company followed the earlier method, amortisation would have been higher by Rs.400.14 Lacs
4
Unabsorbed depreciation is being set off against taxable profits during the current period resulting into reversal of deferred tax asset recognised on the same in earlier years. The foregoing has resulted in increase in tax expense during the current period.
5
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.
6
The Board of Directors has recommended Dividend @ Re.1.00 per equity share subject to the approval of members in AGM.
7
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
8
Previous period figures have been regrouped / reclassified wherever necessary.
Statement of Assets and Liabilities (Audited)
(Rs in Lacs)
Standalone
Consolidated
As at
As at
Particulars
31-Mar-13
31-Mar-12
31-Mar-13
31-Mar-12
A
EQUITY AND LIABILITIES
1
Shareholders' fund
(a) Share Capital
18,619.50
18,619.50
18,619.50
18,619.50
(b) Reserves & Surplus
30,244.69
28,211.81
30,212.84
28,203.10
Sub-total-Shareholders' funds
48,864.19
46,831.31
48,832.34
46,822.60
2
Non-current liabilities
(a) Long-term borrowings
2,314.83
7,537.39
2,314.83
7,537.39
(b) Deferred tax liabilities (net)
4,375.45
1,995.62
4,375.45
1,995.62
(c) Other long-term liabilities
302.25
272.18
302.25
272.18
(d) Long-term provisions
348.10
312.98
386.33
345.52
Sub-total-Non-current liabilities
7,340.63
10,118.17
7,378.86
10,150.71
3
Current liabilities
(a) Trade payables
52.00
17.24
76.01
56.22
(b) Other current liabilities
6,293.96
3,881.12
6,487.43
4,021.68
(c) Short-term provisions
4,398.46
3,379.03
4,442.60
3,410.77
Sub-total current liabilities
10,744.42
7,277.39
11,006.04
7,488.67
TOTAL- EQUITY AND LIABILITIES
66,949.24
64,226.87
67,217.24
64,461.98
B
ASSETS
1
Non-current assets
(a) Fixed assets
Tangible assets
560.99
558.27
582.25
581.79
Intangible assets
56,990.85
57,082.61
56,990.85
57,082.61
Capital Work in Progress
4.75
-
4.75
-
(b) Non-current investments
2.55
2.55
-
-
(c) Long-term loans and advances
3,298.24
1,947.34
3,298.24
1,947.34
Sub-total-Non-current assets
60,857.38
59,590.77
60,876.09
59,611.74
2
Current assets
(a) Current investments
5,197.30
3,546.90
5,197.30
3,546.90
(b) Inventories
26.21
8.29
43.95
16.52
(c) Trade receivables
135.93
71.40
170.67
104.90
(d) Cash and cash equivalents
397.67
721.13
466.16
773.01
(e) Short-term loans and advances
.75
288.38
463.07
408.91
Sub-total-current assets
6,091.86
4,636.10
6,341.15
4,850.24
TOTAL- ASSETS
66,949.24
64,226.87
67,217.24
64,461.98
-
-
-
-
For and on behalf of the Board of Directors
Harish Mathur
CEO & Executive Director
Noida
May 01, 2013
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR SSLFSFFDSEII
