Reliance Infrastructure held a conference call to discuss quarterly and yearly results and future growth plans. Lalit Jalan, CEO & Whole Time Director addressed the conference call
Highlights of the Call
- As on March 31, 2009, the net worth of the Company stood at Rs 11,907 crore (US$ 2.4 billion). Book value per share increased to Rs 517 as on March 31, 09 from Rs 496 per share as on March 31, 2008.
- As on March 31, 2009, the net worth of the Company on consolidated basis stood at Rs 16,897 crore (US$ 3.3 billion). Book value per share on consolidated basis has increased to Rs 734 as on March 31, 09 from Rs 683 per share as on March 31, 2008
- The Company has bought-back 95.6 lakh equity shares for an aggregate amount of Rs 759 crore (US$ 149 million) during the year and all the shares bought-back were extinguished. Company has completed the bought-back programme by cumulatively buying 112.6 lakh equity shares for an aggregate amount of Rs 927 crores (US$ 183 million).
- The Company’s cash and cash equivalents have increased to over Rs 10,000 crore (US$ 1.98 billion) as on March 31, 2009 in spite of aggressive capex (including equity investments in SPVs), buybacks and un-recovered FAC aggregating over Rs 3,000 crore (US$ 631 million). Of the cash and cash equivalents, more than Rs 5,400 crore (US$ 1.06 billion) is in cash and debt mutual funds, without any exposure to equity markets.
- The Company’s total debt including the revaluation on account of changes in Forex is Rs 7,332 crore (US$ 1.45 billion). The Company thus remains debt free at the net level and enjoys the top end ratings of ‘AAA’ and ‘AA’ from CRISIL and FITCH respectively.
- For the FY’10 on a standalone basis the company has chalked out a routine capex plan of Rs 500 crore
- For the FY’10 and FY’11 the company targets a turnover in EPC division of Rs 3600 crore and Rs 6000 crore respectively.
- Post elections, the company plans to bid for distribution circles in Maharashtra, Bihar and Uttar Pradesh on franchisees.