RNS Number : 6516F
Noida Toll Bridge Co. Ltd.
28 April 2014
28 April 2014 Noida Toll Bridge Company Limited
(CIN No L45101UP1996PLC019759)
Regd. Office: Toll Plaza, DND Flyway, Noida 201 301, Uttar Pradesh, India
Audited Financial Results for the Quarter and Year Ended 31 March 2014
The Board of Directors of Noida Toll Bridge Company Limited ("NTBCL" or the "Company") approved the Company's results for the year ended March 31, 2014, today. The results have been audited under Indian GAAP.
NTBCL has reported a 24 % increase in PBT at Rs. 814.03 million for the year as compared to Rs.656.97 million in the previous year attributable to the Toll Increase on April 1, 2013.
The profit after tax for the year, at Rs. 539.09 million is 29 % higher than the previous year's: Rs. 418.82 million.
Audited financial statements prepared under IFRS will be published in due course.
The Board of Directors has recommended a final dividend of 25% (inclusive of a 15% Interim Dividend, already paid in March 2014) for Financial Year 2013- 2014, 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
Cairn Financial Advisers LLP (Nominated Adviser)
Sandy Jamieson
00 44 207 148 7900
About the Company
NTBCL is a special purpose vehicle promoted by Infrastructure Leasing and Financial Services Limited, a specialist financial institution focusing on the development and financing of infrastructure, to construct and operate the Delhi Noida Toll Bridge on a build, own, operate and transfer basis. The Delhi Noida Toll Bridge is a tolled facility connecting Noida to South Delhi across the Yamuna river. The Company's principal business is operating the bridge and the Company generates revenues mainly through the levy of toll charges on users of the bridge.
(Rs. in Lacs)
(Rs. in Lacs)
Sl. No.
Particulars
Quarter ended
Year ended
Consolidated Year ended
Audited
Unaudited
Audited
Audited
Audited
Audited
Audited
31.03.2014
31.12.2013
31.03.2013
31.03.2014
31.03.2013
31.03.2014
31.03.2013
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
1
Income from operations
3,045.83
3,106.13
2,832.94
11,937.27
10,606.43
11,970.59
10,763.16
Total Revenue
3,045.83
3,106.13
2,832.94
11,937.27
10,606.43
11,970.59
10,763.16
2
Total Expenditure
a) O & M Expenses
252.33
281.91
263.83
1,038.24
953.92
485.81
477.72
b) Employee Benefit Expenses
51.19
63.02
60.60
251.73
245.56
810.29
801.33
c) Legal and Professional Charges
55.34
64.51
134.39
245.04
305.50
275.62
339.36
d) Rates & Taxes
175.77
156.95
144.44
751.14
503.62
751.18
503.63
e) Depreciation/ Amortisation
46.29
47.92
45.54
195.20
182.72
204.74
195.38
f) Overlay
113.78
36.40
162.23
582.73
906.38
582.73
906.38
g) Other expenditure
61.44
66.92
183.61
255.87
331.29
325.77
385.33
Total Expenditure
756.14
717.63
994.64
3,319.95
3,428.99
3,436.14
3,609.13
3
Profit from Operations before Other Income, Finance cost & Exceptional items (1-2)
2,289.69
2,388.50
1,838.30
8,617.32
7,177.44
8,534.45
7,154.03
4
Other Income
119.78
140.75
138.09
499.89
697.32
503.68
703.22
5
Profit from ordinary activities before Finance Cost & Exceptional items (3+4)
2,409.47
2,529.25
1,976.39
9,117.21
7,874.76
9,038.13
7,857.25
6
Finance Cost
98.16
143.69
217.80
894.36
1,283.60
897.80
1,287.49
7
Profit from ordinary activities after Finance Cost but before Exceptional items (5-6)
2,311.31
2,385.56
1,758.59
8,222.85
6,591.16
8,140.33
6,569.76
8
Exceptional items
-
-
-
-
-
-
-
9
Profit from Ordinary Activities before tax (7-8)
2,311.31
2,385.56
1,758.59
8,222.85
6,591.16
8,140.33
6,569.76
10
Tax Expenses
697.48
920.00
631.60
2,747.48
2,379.83
2,749.41
2,381.57
11
Net Profit from Ordinary Activities after tax (9-10)
1,613.83
1,465.56
1,126.99
5,475.37
4,211.33
5,390.92
4,188.19
12
Extraordinary items (Net of tax expense)
-
-
-
-
-
-
-
13
Net Profit for the period (11-12)
1,613.83
1,465.56
1,126.99
5,475.37
4,211.33
5,390.92
4,188.19
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
2,469.09
7,679.55
2,469.09
7,679.55
16
Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year
N/A
N/A
N/A
30,274.03
30,244.69
30,157.72
30,212.84
17
Debenture Redemption Reserve
N/A
N/A
N/A
442.43
353.95
442.43
353.95
18
Earning Per Share (before extraordinary items)
a
Basic
0.87
0.79
0.61
2.94
2.26
2.90
2.25
b
Diluted
0.87
0.79
0.61
2.94
2.26
2.90
2.25
Earning Per Share (after extraordinary items)
a
Basic
0.87
0.79
0.61
2.94
2.26
2.90
2.25
b
Diluted
0.87
0.79
0.61
2.94
2.26
2.90
2.25
19
Debt Equity Ratio
N/A
N/A
N/A
0.05
0.16
0.05
0.16
20
Debt Service Coverage Ratio (DSCR)
N/A
N/A
N/A
1.46
1.71
1.44
1.71
21
Interest Service Coverage Ratio (ISCR)
N/A
N/A
N/A
10.20
6.13
10.07
6.10
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
49,095,007
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%
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-2014
Pending at the beginning of the quarter
-
Received during the quarter
42
Disposed of during the quarter
42
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 April 28, 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 had 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
During the Quarter Interim Dividend @ Re 1.50 per equity share has been paid as approved by the Board of Directors. The Board of Directors has further recommeded Dividend @ Re.1.00 per equity share for FY 2013-14 subject to the approval of Shareholders in the AGM.
5
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
6
The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year.
7
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-14
31-Mar-13
31-Mar-14
31-Mar-13
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
30,274.03
30,244.69
30,157.72
30,212.84
Sub-total-Shareholders' funds
48,893.53
48,864.19
48,777.22
48,832.34
2
Non-current liabilities
(a) Long-term borrowings
1,969.09
2,314.83
1,969.09
2,314.83
(b) Deferred tax liabilities (net)
7,122.92
4,375.45
7,122.92
4,375.45
(c) Other long-term liabilities
328.68
302.25
328.68
302.25
(d) Long-term provisions
417.68
348.10
454.53
386.33
Sub-total-Non-current liabilities
9,838.37
7,340.63
9,875.22
7,378.86
3
Current liabilities
(a) Trade payables
15.93
52.00
50.66
76.02
(b) Other current liabilities
1,415.43
6,293.96
1,748.42
6,487.42
(c) Short-term provisions
4,443.79
4,398.46
4,478.48
4,442.60
Sub-total current liabilities
5,875.15
10,744.42
6,277.56
11,006.04
TOTAL- EQUITY AND LIABILITIES
64,607.05
66,949.24
64,930.00
67,217.24
B
ASSETS
1
Non-current assets
(a) Fixed assets
Tangible assets
506.79
560.99
521.58
582.25
Intangible assets
56,880.00
56,990.85
56,880.00
56,990.85
Capital Work in Progress
-
4.75
-
4.75
(b) Non-current investments
2.55
2.55
-
-
(c) Long-term loans and advances
5,057.69
3,298.24
5,057.69
3,298.24
Sub-total-Non-current assets
62,447.03
60,857.38
62,459.27
60,876.09
2
Current assets
(a) Current investments
602.94
5,197.30
602.94
5,197.30
(b) Inventories
19.20
26.21
36.58
43.95
(c) Trade receivables
129.08
135.93
129.09
170.67
(d) Cash and cash equivalents
1,004.20
397.67
1,081.05
466.16
(e) Short-term loans and advances
404.60
334.75
621.07
463.07
Sub-total-current assets
2,160.02
6,091.86
2,470.73
6,341.15
TOTAL- ASSETS
64,607.05
66,949.24
64,930.00
67,217.24
As per our separate report of even date attached
For Luthra & Luthra
For and on behalf of the Board of Directors
Chartered Accountants
Reg. No. 002081N
Amit Luthra
Partner
Harish Mathur
(M.No.85847)
CEO & Executive Director
Place: Noida
Place: Noida
Date: April 28, 2014
Date: April 28, 2014
This information is provided by RNS
The company news service from the London Stock Exchange
END
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