REG - SREI Inf Fin Ltd - Consolidated Financial Results - 30.09.2015 <Origin Href="QuoteRef">SREI.NS</Origin> - Part 1

Srei Infrastructure FinanceAnnouncement

05/01/2016 13:20

RNS Number : 9416E
SREI Infrastructure Finance Limited
08 November 2015

SREI INFRASTRUCTURE FINANCE LIMITED

Regd Office: 'Vishwakarma', 86C, Topsia Road (South), Kolkata - 700 046, Website: www.srei.com, Email for Investors: investor.relations@srei.com

(CIN): L29219WB1985PLC055352

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2015

Part I





(RsinLakhs)


Quarter ended
Half Year ended
Yearended

Particulars 
30-Sep-15
30-Jun-15
30-Sep-14
30-Sep-15
30-Sep-14
31-Mar-15


(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Audited) 

1. Income 







(a) Income from Operations 
 83,415 
 78,122 
 81,374 
 1,61,537 
 1,73,190 
 3,28,618 

(b) Other Operating Income
 934 
 1,584 
 1,100 
 2,518 
 2,384 
 4,684 

 Total Income from Operations
 84,349 
 79,706 
 82,474 
 1,64,055 
 1,75,574 
 3,33,302 

2. Expenses







(a) Employee Benefits Expense
 3,889 
 3,594 
 3,462 
 7,483 
 6,892 
 14,429 

(b)Legal and Professional Fees 
 1,287 
 1,214 
 1,550 
 2,501 
 2,976 
 6,739 

(c)Operating and Other Expenses
 3,390 
 3,805 
 4,202 
 7,195 
 8,367 
 17,503 

(d)Bad Debts written off (net)/Provisions, Contingencies and diminutions
 9,203 
 5,833 
 6,959 
 15,036 
 20,039 
 30,983 

(e)Depreciation / Amortisation and Impairment 
 6,160 
 5,371 
 4,715 
 11,531 
 9,261 
 20,143 

 Total Expenses
 23,929 
 19,817 
 20,888 
 43,746 
 47,535 
 89,797 

3. Profit from Operations before Other Income, Finance Costs & Exceptional items (1-2)
 60,420 
 59,889 
 61,586 
 1,20,309 
 1,28,039 
 2,43,505 

4. Other Income
 799 
 145 
 831 
 944 
 1,453 
 2,730 

5. Profit from ordinary activities before Finance Costs & Exceptional items (3+4)
 61,219 
 60,034 
 62,417 
 1,21,253 
 1,29,492 
 2,46,235 

6. Finance Costs
 59,336 
 56,577 
 56,977 
 1,15,913 
 1,14,326 
 2,27,415 

7. Profit from ordinary activities after Finance Costs but before Tax & Exceptional items (5-6)
 1,883 
 3,457 
 5,440 
 5,340 
 15,166 
 18,820 

8. Exceptional Items
 - 
 - 
 97 
 - 
 97 
 24 

9. Profit from ordinary activities before Tax (7+8)
 1,883 
 3,457 
 5,537 
 5,340 
 15,263 
 18,844 

10. Tax expense
 1,035 
 1,380 
 2,866 
 2,415 
 6,367 
 6,701 

11. Income Tax in respect of earlier years
 (2)
 - 
 - 
 (2)
 2 
 3 

12. Net Profit from ordinary activities after Tax (9-10-11)
 850 
 2,077 
 2,671 
 2,927 
 8,894 
 12,140 

13. Extraordinary Items
 - 
 - 
 - 
 - 
 - 
 - 

14. Net Profit for the period/year (before adjustment for Minority Interest & profit / (loss) of Associate) (12-13)
 850 
 2,077 
 2,671 
 2,927 
 8,894 
 12,140 

15. Share of loss of Associate
 - 
 - 
 - 
 - 
 - 
 - 

16. Share of Profit / (Loss) of Minority Interest
 (300)
 (255)
 (136)
 (555)
 (311)
 (771)

17. Net Profit after taxes (14-15-16)
 1,150 
 2,332 
 2,807 
 3,482 
 9,205 
 12,911 

18. Paid-up Equity Share Capital (Face Value Rs. 10/- each) 
 50,324 
 50,324 
 50,324 
 50,324 
 50,324 
 50,324 

19. Reserves excluding Revaluation Reserves





 3,08,139 

20. Earnings per share - Basic & Diluted (Rs.) (* Not annualised)
*0.23 
*0.46 
*0.56 
*0.69 
*1.83 
 2.57 








Part II







A. Particulars of Shareholding 







1. Public shareholding (including Global Depository Receipts)







-Number of Shares
207692369
207692369
255192369
207692369
255192369
232692369

-Percentage of Shareholding 
41.28
41.28
50.73
41.28
50.73
46.25

2. Promoters and promoter group shareholding







 (a) Pledged / Encumbered







-Number of Shares
Nil
Nil
Nil
Nil
Nil
Nil

-% of Shares (to total shareholding of promoters and promoter group)
Nil
Nil
Nil
Nil
Nil
Nil 

-% of Shares (to total share capital of the company)
Nil
Nil
Nil
Nil
Nil
Nil 

 (b) Non-encumbered







-Number of Shares
295393964
295393964
247893964
295393964
247893964
270393964

-% of Shares (to total shareholding of promoters and promoter group)
100.00
100.00
100.00
100.00
100.00
100.00

-% of Shares (to total share capital of the company)
58.72
58.72
49.27
58.72
49.27
53.75









B. Information on investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended 30th September, 2015



Particulars
Opening balance
Additions
Disposal
Closing balance



Number of complaints received - Equity shares
Nil
63
63
Nil



























CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES 







(Rs.inLakhs)






As at
As at

Particulars 




30-Sep-15
31-Mar-15






(Unaudited) 
(Audited) 

A. EQUITY AND LIABILITIES







1. Shareholders' Funds







(a) Share Capital




 50,324 
 50,324 

(b) Reserves and Surplus




 3,11,439 
 3,08,139 

Sub-total : Shareholders' Funds




 3,61,763 
 3,58,463 









2. Minority Interest




 680 
 1,256 

3. Non-Current Liabilities







(a) Long-Term Borrowings




 7,20,187 
 6,80,418 

(b) Deferred Tax Liabilities (Net)




 19,582 
 20,170 

(c) Other Long-Term Liabilities




 13,413 
 10,887 

(d) Long-Term Provisions




 5,198 
 4,657 

Sub-total : Non-Current Liabilities




 7,58,380 
 7,16,132 









4. Current Liabilities







(a) Short-Term Borrowings




 11,33,141 
 11,35,745 

(b) Trade Payables




 24,513 
 22,054 

(c) Other Current Liabilities




 2,61,388 
 2,51,458 

(d) Short-Term Provisions




 1,976 
 4,284 

Sub-total : Current Liabilities




14,21,018 
 14,13,541 

TOTAL - EQUITY AND LIABILITIES




25,41,841 
 24,89,392 























(Rs. in Lakhs)






As at
As at

Particulars 




30-Sep-15
31-Mar-15






(Unaudited) 
(Audited) 

B. ASSETS







Non-current assets







(a) Fixed assets




 1,54,117 
 1,55,134 

(b) Goodwill on consolidation 




 30,774 
 30,774 

(c) Non-current Investments




 2,07,493 
 2,22,966 

(d) Deferred Tax Assets (Net)




 1,799 
 1,591 

(e) Long-Term Loans and Advances




 13,39,908 
 12,48,168 

(f) Other Non-Current Assets




 26,520 
 23,334 

Sub-total : Non-Current Assets




17,60,611 
 16,81,967 









Current assets







(a) Current Investments




 1,921 
 2,028 

(b) Inventories




 1,355 
 1,337 

(c) Trade Receivables




 14,943 
 26,542 

(d) Cash and Cash Equivalents




 62,489 
 57,476 

(e) Short-Term Loans and Advances




 1,81,882 
 1,55,096 

(f) Other Current Assets




 5,18,640 
 5,64,946 

Sub-total : Current Assets




 7,81,230 
 8,07,425 

TOTAL - ASSETS




25,41,841 
 24,89,392 









Segment wise Revenue, Results and Capital Employed as per Clause 41 of Listing Agreement







(Rs. in Lakhs)


Quarter ended
Half Year ended
Year ended

Particulars 
30-Sep-15
30-Jun-15
30-Sep-14
30-Sep-15
30-Sep-14
31-Mar-15


(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Audited) 

1. Segment Revenue







 (a) Financial Services
 84,521 
 79,368 
 80,471 
 1,63,889 
 1,71,605 
 3,25,698 

 (b) Infrastructure Equipment Services
 829 
 808 
 4,334 
 1,637 
 8,379 
 15,585 

 (c) Others
 36 
 11 
 42 
 47 
 60 
 139 

Total
 85,386 
 80,187 
 84,847 
 1,65,573 
 1,80,044 
 3,41,422 

Less: Inter Segment Revenue
 238 
 336 
 1,542 
 574 
 3,017 
 5,390 

Net Income from Operations
 85,148 
 79,851 
 83,305 
 1,64,999 
 1,77,027 
 3,36,032 

2. Segment Results







 (a) Financial Services
 2,547 
 4,292 
 4,217 
 6,839 
 12,826 
 16,186 

 (b) Infrastructure Equipment Services
 (680)
 (830)
 1,304 
 (1,510)
 2,434 
 2,633 

 (c) Others
 16 
 (5)
 16 
 11 
 3 
 25 

Total
 1,883 
 3,457 
 5,537 
 5,340 
 15,263 
 18,844 

Less: Interest & Finance Charges
 - 
 - 
 - 
 - 
 - 
 - 

 Other Un-allocable Expenditure (Net)
 - 
 - 
 - 
 - 
 - 
 - 

 Un-allocable Income
 - 
 - 
 - 
 - 
 - 
 - 

Profit Before Tax
 1,883 
 3,457 
 5,537 
 5,340 
 15,263 
 18,844 

3. Capital Employed 







 (Segment Assets-Segment Liabilities)







 (a) Financial Services
 3,45,681 
 3,55,627 
 3,12,635 
 3,45,681 
 3,12,635 
 3,48,444 

 (b) Infrastructure Equipment Services
 15,312 
 9,740 
 17,416 
 15,312 
 17,416 
 15,389 

 (c) Others
 2,295 
 2,303 
 40,845 
 2,295 
 40,845 
 2,316 

 (d) Un-allocable
 (845)
 (5,440)
 (9,686)
 (845)
 (9,686)
 (6,430)

Total
 3,62,443 
3,62,230 
3,61,210 
 3,62,443 
 3,61,210 
 3,59,719 








Notes:






1
In accordance with clause 41 of the Listing Agreement, the Company has published unaudited consolidated financial results. The unaudited standalone financial results of the Company will, however, be available on the Company's website www.srei.com and on the websites of BSE (www.bseindia.com) and / or NSE (www.nseindia.com).
2
The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 7th November, 2015. The Statutory Auditors of the Company have reviewed the said results.
3
The above unaudited consolidated financial results have been prepared in accordance with the principles and procedures as set out in Accounting Standard-21 on 'Consolidated Financial Statements', Accounting Standard-23 on 'Accounting for Investments in Associates in Consolidated Financial Statements' and Accounting Standard-27 on 'Financial Reporting of Interests in Joint Ventures'.
4
The financial results of a foreign subsidiary (including its subsidiaries) have been prepared as per IFRS, generally followed in the country of their incorporation. As there are no material differences between such financial results as per IFRS and as per Indian GAAP, no adjustments have been considered necessary.
5
Due to the fluctuation in foreign exchange rates, the applicable loss on foreign exchange transactions and translations is Rs. 980 lakhs for the quarter ended 30th September, 2015 as against loss of Rs. 1,011 lakhs for the quarter ended 30th September, 2014 and loss of Rs. 1,234 lakhs for the half year ended 30th September, 2015 as against loss of Rs. 1,279 lakhs for the half year ended 30th September, 2014, charged under "Finance Costs".
6
Company's standalone financial information (Rs. in Lakhs) is as below: 


Quarter ended
Half Year ended
Year ended

Particulars 
30-Sep-15
30-Jun-15
30-Sep-14
30-Sep-15
30-Sep-14
31-Mar-15


(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Audited) 

Turnover
 50,596 
 47,628 
 47,136 
 98,224 
 1,03,138 
 1,90,003 

Profit Before Tax
 1,179 
 3,312 
 3,108 
 4,491 
 8,531 
 11,952 

Profit After Tax
 815 
 2,291 
 2,121 
 3,106 
 5,821 
 9,093 








7
Figures pertaining to the previous year/period have been rearranged/regrouped, wherever considered necessary, to make them comparable with those of the current period.















For and on behalf of the Board of Directors

































Place: Kolkata 







Date: 7th November, 2015





ChairmanandManagingDirector

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The company news service from the London Stock Exchange
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