For the purpose of cash flow statement, cash and cash equivalent
comprise:
Consolidated Company
---------------------------- ----------------------------
30 September 30 September 30 September 30 September
2014 2013 2014 2013
------------- ------------- ------------- -------------
Cash at banks and on hand 39,189 23,793 1,358 9
Short-term deposits 154,902 185,299 - -
------------- ------------- ------------- -------------
Total 194,091 209,092 1,358 9
Less: Restricted cash(1) (154,902) (185,186) - -
------------- ------------- ------------- -------------
Cash and cash equivalent 39,189 23,906 1,358 9
--------------------------- ------------- ------------- ------------- -------------
(1) Include deposits pledged for availing credit facilities from
banks and deposits with maturity term of three months to twelve
months.
7. Interest-bearing loans and borrowings
The interest-bearing loans and borrowings comprise of the
following:
Final Maturity Consolidated Company
--------------- ------------------------- ----------------------------
30 September 31 March 30 September 31 March
2014 2014 2014 2014
--------------- ------------- ---------- ------------- ---------
Long-term "project finance"
loans April-28 2,565,974 2,153,328 - -
Short-term loans December-15 202,096 230,856 52,059 12,177
Buyers' credit facility September-16 188,419 372,892 48,853 49,851
Cash credit and other
working capital facilities September-15 101,024 99,823 - -
Redeemable preference
shares February-28 11,760 17,591 - -
Debentures March-25 43,828 14,186 - -
------------- ---------- ------------- ---------
Total 3,113,101 2,888,676 100,912 62,028
------------------------------ ------------------ ------------- ---------- ------------- ---------
The interest-bearing loans and borrowings mature as follows:
Consolidated Company
----------------------- ----------------------
30 September 31 March 30 September 31 March
2014 2014 2014 2014
------------ --------- ------------ --------
Current liabilities
Amounts falling due within one year 536,131 944,750 100,912 62,028
Non-current liabilities
Amounts falling due after more than
one year but not more than five years 920,802 982,475 - -
Amounts falling due in more than five
years 1,656,168 961,451 - -
------------ --------- ------------ --------
Total 3,113,101 2,888,676 100,912 62,028
--------------------------------------- ------------ --------- ------------ --------
Total debt of US $ 3,113,101 (31 March 2014: US $ 2,888,676)
comprised:
-- Long-term "project finance" loans of the Group amounting US $
2,565,974 (31 March 2014: US $ 2,153,328) is fully secured on the
property, plant and equipment and other assets of joint venture and
subsidiaries that operate power stations, allied services and by a
pledge over the promoter's shareholding in equity and preference
capital of some of the joint ventures and subsidiaries.
-- The short term loan taken by the Group is secured by the
corporate guarantee provided by the Company, fixed deposits of the
Group and by pledge of shares held in the respective entities.
-- Buyer's credit facility is secured against property, plant
and equipment and other assets on pari-passu basis, pledge of fixed
deposits and corporate guarantee of the Company and KEVL.
-- A number of the facilities that are due to expire at 30
September 2015 are in the process of being extended and have
rollover clause in a number of cases.
-- Cash credit and other working capital facilities are fully
secured against property, plant and equipment and other assets on
pari-passu basis with other lenders of the respective entities
availing the loan facilities.
-- Redeemable preference shares are due for repayment in 1-13 year.
-- Debentures are secured on the property, plant and equipment
and other assets of subsidiaries that operate power stations,
allied services and by a pledge over the promoter's shareholding in
equity capital of some of the subsidiaries.
8. Other financial liabilities
Consolidated
----------------------
30 September 31 March
2014 2014
------------ --------
Current
Option premium payable 5,042 5,020
Provision for mark to market loss on derivative
instruments - 53
------------ --------
5,042 5,073
------------ --------
Non-Current
Option premium payable 24,620 27,148
Provision for mark to market loss on derivative
instruments 1,569 1,045
------------ --------
26,189 28,193
------------ --------
Total 31,231 33,266
------------------------------------------------------- ------------ --------
9. Segment information
The Group has adopted the "management approach" in identifying
the operating segments as outlined in IFRS 8. Management has
analysed the information that the chief operating decision maker
reviews and concluded on the segment disclosure.
For management purposes, the Group is organised into business
units based on their services and has two reportable operating
segments as follows:
-- Power generating activities and
-- Project development activities
Management monitors the operating results of its business units
separately for the purpose of making decisions about resource
allocation and performance assessment. Segment performance is
evaluated based on operating profit or loss which in certain
respects, as explained in the table below, is measured differently
from operating profit or loss in the Consolidated financial
statements. Group financing (including finance costs and finance
income) and income taxes are managed on a Group basis and are not
allocated to operating segments. There is only one geographical
segment as all the operations and business is carried out in
India.
Period ended 30 September 2014 Project Power generating Reconciling Consolidated
development activities / Elimination
activities activities
--------------------------------- ------------- ----------------- --------------- -------------
Revenue
External customers 52 175,803 - 175,855
Inter-segment 4,122 - (4,122) -
Total revenue 4,174 175,803 (4,122) 175,855
------------- ----------------- --------------- -------------
Segment operating results 3,253 26,681 (540) 29,394
Unallocated operating expenses,
net (770)
Finance costs (106,695)
Finance income 9,037
-------------
Loss before tax (69,034)
Tax income 12,386
-------------
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