Dear All,

Large ECBs for Power in April 2013

Indian firms have raised US$ 1.12 bn through external commercial borrowings (ECBs) in the month of April 2013 by automatic and approval route. The borrowings stood at US$1.12 bn in April 2013 as compared to US$ 2.73 bn in April 2012.

External commercial borrowings (ECBs) since April 2011                                                                                   (US$bn)

 Source: PHD Research Bureau, compiled from RBI

Note: ECB contains both automatic and approval routes

India has received gross ECBs worth around US$223 bn between FY2001 and FY2014 (till April 2013).

Gross ECB Inflows                                                                                                                                                (US$bn)

Source: PHD Research Bureau, compiled from RBI

* Data pertains to Apr 2013

Note: ECB contains both automatic and approval routes

A closer look at the ECBs pattern reveals that the lion’s share in ECB during the month of April 2013 is held by the power contributing to about 43% of the total, followed by import of capital goods at around 22% and new project at around 13%.

  Pattern showing ECBs during April 2013                                                                                                     (% share in total)

  Source: PHD Research Bureau, compiled from RBI

 Note: ECB contains automatic& approval route both

Warm regards,

Dr. S P Sharma

Chief Economist

UNICEF’s annual State of the World’s Children’s report

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Children with disabilities and their communities would both benefit if society focused on what those children can achieve,rather than what they cannot do,according to UNICEF’s annual State of the world’s children’s report.

New Delhi, India, 30 May 2013 – Children with disabilities and their communities would both benefit if society focused on what those children can achieve, rather than what they cannot do, according to UNICEF’s annual State of the World’s Children’s report.
Concentrating on the abilities and potential of children with disabilities would create benefits for society as a whole, says the report released today.
“When you see the disability before the child, it is not only wrong for the child, but it deprives society of all that child has to offer,” said UNICEF Executive Director Anthony Lake. “Their loss is society’s loss; their gain is society’s gain.”
The report lays out how societies can include children with disabilities because when they play a full part in society, everyone benefits. For instance, inclusive education broadens the horizons of all children even as it presents opportunities for children with disabilities to fulfil their ambitions.
More efforts to support integration of children with disabilities would help tackle the discrimination that pushes them further into the margins of society.
For many children with disabilities, exclusion begins in the first days of life with their birth going unregistered. Lacking official recognition, they are cut off from the social services and legal protections that are crucial to their survival and prospects. Their marginalization only increases with discrimination.
“For children with disabilities to count, they must be counted – at birth, at school and in life,” said Mr. Lake.
The State of the World’s Children 2013: Children with Disabilities says that children with disabilities are the least likely to receive health care or go to school. They are among the most vulnerable to violence, abuse, exploitation and neglect, particularly if they are hidden or put in institutions – as many are because of social stigma or the economic cost of raising them.
The combined result is that children with disabilities are among the most marginalized people in the world. Children living in poverty are among the least likely to attend their local school or clinic but those who live in poverty and also have a disability are even less likely to do so.
Gender is a key factor, as girls with disabilities are less likely than boys to receive food and care.
“Discrimination on the grounds of disability is a form of oppression,” the report says, noting that multiple deprivations lead to even greater exclusion for many children with disabilities.
There is little accurate data on the number of children with disabilities, what disabilities these children have and how disabilities affect their lives. As a result, few governments have a dependable guide for allocating resources to support and assist children with disabilities and their families.
About one third of the world’s countries have so far failed to ratify the Convention on the Rights of Persons with Disabilities. The report urges all governments to keep their promises to guarantee the equal rights of all their citizens – including their most excluded and vulnerable children.
Progress is being made toward the inclusion of children with disabilities, albeit unevenly, and The State of the World’s Children 2013 sets out an agenda for further action.
The report urges governments to ratify and implement the Convention on the Rights of Persons with Disabilities and the Convention on the Rights of the Child, and to support families so that they can meet the higher costs of caring for children with disabilities.
It calls for measures to fight discrimination among the general public, decision-makers and providers of such essential services as schooling and health care.
International agencies should make sure the advice and assistance they provide to countries is consistent with the Convention on the Rights of the Child and the Convention on the Rights of Persons with Disabilities. They should promote a concerted global research agenda on disability to generate data and analysis that will guide planning and resource allocation, the report says.
It emphasizes the importance of involving children and adolescents with disabilities by consulting them on the design and evaluation of programmes and services for them.
And everyone benefits when inclusive approaches include accessibility and universal design of environments to be used by all to the greatest extent possible without the need for adaptation.
“The path ahead is challenging,” said Mr. Lake in Da Nang, Viet Nam, for the launch of the report. “But children do not accept unnecessary limits. Neither should we.”

Rookie Angad Cheema bags maiden professional title

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Richard Stephen Hilton finishes runner-up

Jaipur, May 30, 2013: Rookie Angad Cheema of Panchkula won the second leg of the 2013 PGTI Feeder Tour at the Rambagh Golf Club in Jaipur on Thursday after he fired an even-par-70 in the third and final round. Cheema totaled five-under-205 for the tournament to bag his maiden professional title. Dehradun’s Richard Stephen Hilton was the runner-up as he finished one stroke behind the winner.

Angad Cheema (69-66-70), who was overnight second, had an ordinary start to the day. He bogeyed the first and third holes after a couple of poor shots. The 23-year-old Cheema picked up his first birdie of the day with an eight feet putt on the eighth. However, he stumbled with another bogey on the ninth.

Angad then produced a far better back-nine as he birdied the 10^th and 15^th and made a good par to win on the 18^th. Cheema, a winner of three events on the amateur circuit, landed his approach shots within five feet and two feet for birdies on the 10^th and 15^th respectively.

Cheema said, “The turning point for me was the birdie on the 15^th as that gave me a two shot lead. I also made a good chip-putt for par to win on the 18^th. My putting was much better as compared to last week’s event in Faridabad where I missed the cut. After the poor performance in Faridabad, I came to Jaipur just to prove to myself that I can play much better golf. I wanted to get in the right frame of mind before the season’s bigger events.

“I knew I would do well at the Rambagh Golf Club as I had won a team event at this venue during my amateur days. It’s great to win my first title within five months of turning professional. This victory is of huge significance to me.”

Angad Cheema is now placed second on the PGTI Feeder Tour Order of Merit behind Arjun Singh Chaudhri who won the first leg of the season at Faridabad last week.

Richard Stephen Hilton (68-69-69) was the runner-up with a four-under-206 total. The 25-year-old Richard made four birdies, a bogey and a double-bogey in his final round of one-under-69. Hilton, playing in his second season as a professional, posted the best ever result of his professional career after he finished second at Jaipur.

Overnight leader Honey Baisoya of Delhi secured tied third place along with Amardeep Rawat of Lucknow at three-under-207. Baisoya shot a three-over-73 in the final round.

Vishal Singh of Jaipur and Chandigarh’s Roop Singh were in tied fifth place at one-under-209.

ONGC post Rs.25,123 Cr NP on a turnover of Rs.76,130 Cr to invest of Rs.11,00,000 Cr

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ONGC, Chairman  on his maiden   media interaction to present the annual reports 2013 in New Delhi.
Mr Vasudeva said, on replying to Nksagar question on IPO of bonds or equity share for sale of  the promoter, for garnering funds on capital expenditure the Government of India must make call on when it wants to go ahead. He further added that the Shares  market has been behaving very erratically and Government has to take a call.Chairman ONGC  Vasudeva said, ONGC  to unlock 450 million tonnes of oil and oil equivalent gas yet to be explored from the  domestic resources, OVL has been tasked to source 60 million tonnes of oil and oil equivalent gas per year by 2030.“We have decided to invest and explore opportunities in 4-5 international hubs, where OVL can atain growth of sufficient scale. Potential growth hubs include heavy oil, conventional plays, shale and deepwater,” he said.
“We have prepared a ‘Perspective Plan 2030′ that envisages doubling production over the next 18 years at 4-5% annual production growth rate,” he said.
These  ‘blue print’ targets doubling production in course of achieving a three-fold growth in revenue and profits. It also aims for a four-fold growth in market capitalisation of the company and a six-fold growth in production from international operations, he said.
“All this will require an investment of Rs.11,00,000 cr,” he said. It posted a net profit of Rs.25,123 cr on a turnover of Rs.76,130 cr.
ONGC expects to raise its crude oil output to 28 million tonnes a year by March 2014, and gas production to 100 million standard cubic metres a day by March 2017. ONGC  to bring in in foreign partners for increasing its output

Distribute Select HP Sign and Display Media for Latex Printers

 

New Delhi, India, May 27, 2013 – To improve service quality and availability of HP-branded sign and display media for HP Latex Inks, HP announced today that it has entered into a licensing agreement with Brand Management Group (BMG), a company specializing in media distribution worldwide. 

 

Under the terms of this agreement, BMG will source, market and distribute a limited portfolio of HP-branded media while HP continues developing advanced media coatings and treatments. The HP media products available from BMG are limited to those intended for sign and display applications, optimized for HP Latex Inks and available on 3-inch cores.

 

BMG, in collaboration with HP, will expand the HP portfolio with new substrates, including HP Everyday Adhesive Matte Polypropylene, HP Everyday Matte Polypropylene, HP Coated Paper, HP Universal Heavyweight Coated, HP Heavyweight Coated Paper and HP Super Heavyweight Plus Matte. BMG is expected to begin distributing HP-branded media through its global network of dealers on May 1, 2013.

bsnl & DIMENSION DATA launch cloud services powered by ‘global cloud exchange’

29 05 2013

bsnl AND DIMENSION DATA launch enterprise cloud services powered by first of its kind ‘global cloud exchange’

Acquires 15 user enterprises across Private and Government sectors

New Delhi, 28 May, 2013 – Bharat Sanchar Nigam Limited (BSNL), India’s leading telecommunication services provider and Dimension Data, the leading global ICT solutions and services provider today jointly announced the launch of their Enterprise Cloud Services in India. Based on Dimension Data’s Managed Cloud Platform™ (MCP), BSNL forays into the Enterprise Cloud services space through its Internet Data Centres (IDCs). The launch was presided over by Shri Kapil Sibal, Hon’ble Minister for Communications and IT who witnessed the signing-on of 15 user enterprises across Financial Services, IT / ITES, Education and Government sectors.
Based on a standardised architecture, the MCP offers enterprises the advantage of being able to support public, private and hybrid cloud models. All MCPs are enterprise-ready, offering multiple layers of security, administrative controls, highest availability SLAs, 24/7 phone support and integrated management capabilities.
Specifically architected for Large Enterprise needs, these services have already been acknowledged as ‘Leaders’ in Gartner’s Magic Quadrant for Cloud IaaS, and have more than 1,000 clients globally.
Commending the launch of BSNL’s cloud services, Shri Kapil Sibal, Hon’ble Minister of Communications and IT, said, “I compliment BSNL and Dimension Data on being able to successfully launch enterprise class cloud services following up on their earlier initiative of building world-class Internet Data Centres. With the central, as well as State governments strategically investing in strengthening their E-Governance initiatives to benefit citizens, this public-private partnership to offer cloud services is another step towards realising the larger goal of bridging the gap between citizens and the government.”
Shri R. K. Upadhyay, Chairman & Managing Director, BSNL, said “The IDC and Cloud Services have not only enabled us to build and add new strategic capabilities to our portfolio, but also, it has benefited our clients who can leverage our flexible sourcing options or simply host their entire IT assets within our secure environment and with expert care. The fact that we have already signed on 15 leading organizations is a clear indicator of the value we are delivering.”
Further elaborating on the launch, Kiran Bhagwanani, CEO, Dimension Data India said, “India is a key market for Dimension Data and we continue to make significant investments here. Our partnership with BSNL to build the IDCs and offer world-class Cloud Services is testimony to our commitment to the region. We offer a wide range of Cloud Services that support our clients at every step of their cloud journey, be it implementing private clouds or offering public cloud services, very often ending up with a hybrid model for enterprise clients. Our highly secure, enterprise-class, globally connected cloud platform is positioned in the ‘Leaders’ quadrant of Gartner’s Magic Quadrant for Cloud IaaS with more than a thousand global clients already on board.”
-ENDS-

About BSNL:
Bharat Sanchar Nigam Ltd. is the world’s seventh largest telecommunications company, providing a comprehensive range of telecom services in India: Wireline, CDMA mobile, GSM Mobile, Internet, Broadband, Carrier services, MPLS-VPN, VSAT, VoIP services, IN services etc. Presently it is one of the largest and leading public sector units in India. Scaling new heights of success, the present turnover of BSNL is around US$ 6 billion in last financial year. The turnover, nationwide coverage, reach, comprehensive range of telecom services and the desire to excel in new upcoming fields has made BSNL the leading Telecom Company of India. With this new business of Datacenter, Cloud services and IT solutions suites BSNL has further diversified its business portfolio. For more information, please visit http://www.bsnl.co.in

About Dimension Data
Founded in 1983, Dimension Data is an ICT services and solutions provider that uses its technology expertise, global service delivery capability, and entrepreneurial spirit to accelerate the business ambitions of its clients. Dimension Data is a member of the NTT Group.

In Asia Pacific, we operate in over 60 offices across 13 countries. We help clients plan, build, support, manage, improve and innovate their ICT infrastructures. It combines an expertise in networking, security, data centre solutions, Microsoft solutions and converged communications and contact centre technologies, with advanced skills in consulting, integration, training and managed services. www.dimensiondata.com

Hindalco reports Standalone and Consolidated audited results for year ended 31 March 2013

Ø  First Metal tapped at Mahan Aluminium Project

Ø  Utkal Alumina Project under commissioning

Ø  Consecutively 4^th quarter of improved performance

Financial Highlights

	STANDALONE						CONSOLIDATED
	Q4FY13	Q3FY13	Q4FY12	FY13	FY12		FY13	FY12
(In Rs. crore)
Revenue from Operations	6,994	6,872	7,647	26,057	26,597		80,193	80,821
EBITDA	644	582	864	2,204	3,105		7,837	8,184
Other income	231	318	161	983	616		1,012	783
Profit Before Interest, Tax, Depreciation & Amortisation	875	900	1,025	3,187	3,721		8,849	8,967
Depreciation	173	188	166	704	690		2,861	2,864
Finance Costs	158	169	80	436	294		2,079	1,758
Profit before tax	544	543	779	2,047	2,737		3,909	4,345
Tax Expenses	62	109	139	347	500		886	786
Net profit before Minority Interest and Share in Associates	482	434	640	1,699	2,237		3,023	3,559
Share in Profit/ (Loss) of Associates (Net)							(16)	50
Minority Interest							(20)	211
Net Profit for the Period	482	434	640	1,699	2,237		3,027	3,397
Basic EPS	2.52	2.26	3.34	8.88	11.69		15.81	17.74

Note:   Certain descriptions and /or figures of earlier periods have been changed/regrouped to conform to current practices

Hindalco Industries Limited, the flagship company of the Aditya Birla Group, today announced its standalone and consolidated audited financial results for the year ended 31 March, 2013.

Standalone results

Quarterly Results

The operational results for the Quarter ended on 31^st March 2013 showed significant improvement over the previous quarter – EBITDA surged by over 10%. The Company has delivered sequentially an improved EBITDA in every quarter of this year.  The operating margin of the Company also grew in this quarter by 72 basis points due to operational efficiencies.

As a result, Net profit has risen by over 11% at Rs. 482 crore.

 Aluminium sales grew by 8% to Rs. 2,396 crore from Rs. 2,215 crore in Q3FY13 on the back of higher volumes. The Segment results before Interest and Tax soared by 37% to Rs. 284 crore.  The Company was able to register a significant increase of 250 basis points in its EBIT margin in Aluminium business.

Alumina and Aluminium Production in Q4’13 at 330 Kt and 142 Kt respectively have also been higher over Q3FY13.

The Capital employed in the Aluminium Business stood at Rs. 31,942 crore as on March 31, 2013, which included around Rs. 22,500 crore relating to the Greenfield investments, viz., Mahan, Hirakud Flat Rolled Products and Aditya Aluminium Projects.

Copper The EBIT of Copper Business posted a growth of 15% to Rs. 259 crore while Capital employed in Copper Business remained at Rs 5,916 crore.  The Company achieved an 80 basis point increase in EBIT margin in Copper business.

Copper Cathode production in Q4’13 at 84.6 Kt is higher compared to 83.7 Kt in Q3’13.

Thus there was an all-round improvement in performance in volumes, margins and results in both the businesses of the Company.

Annual Results

Financial Year 2013 was marked by consistently low aluminium LME and constantly increasing costs. As a result, aluminium companies across the globe suffered during this year. However, Hindalco was able to mitigate impact of the above factors by improved efficiencies and higher volumes. Consequently, the Company’s results in this business segment stand out on almost every parameter in the peer group – both domestic as well international.

The Company closed the year with stand alone revenues at Rs. 26,057 crore, Profit before Depreciation, Interest and Tax at Rs.3,187 crore and Net Profit at Rs 1,699 crore.

Consolidated results

Despite a sluggish market and headwinds in all businesses of the Company, the Consolidated Revenue as well as Profit before Depreciation, Interest and Tax for the year at Rs 80,193 and Rs 8,849 crore respectively compare well with last year’s corresponding figures. With regard to segment results, Aluminium Segment has done particularly well by maintaining its EBIT at Rs 4,388 crore on consolidated basis.

Novelis Inc (wholly owned subsidiary)

The performance of Novelis was negatively impacted by pricing pressures from competitors, supply chain disruptions due to implementation of a new ERP system in two North American plants, as well as production challenges and softer demand.

Shipments of flat rolled products are marginally lower at 2,786 Kt for the year ended 31March, 2013, compared to 2,838 Kt in the prior year. Net sales were 11% lower primarily driven by a 15% decline in average aluminium prices and a fall in flat rolled product volumes by 2%.

 

Aditya Birla Minerals Limited (51 per cent subsidiary)

The company’s copper production expanded by 16% mainly on account of restart of Mt Gordon mine. Sales volume is up by 14% compared to the previous year. The revenue in value terms was sustained. Profitability was adversely affected given lower realisation of copper compared to the previous year and higher average unit cost of production, because of higher volume from Mt Gordon operations at higher cost.

At Nifty, the ore mined was 2.27 million tonnes up by 8% over the previous year. At Mt Gordon, the ore mined was 1.10 million tonnes representing a step up of 59% over the previous year.

Mount Gordon mine’s operations are currently placed under care and maintenance.

Dividend

The Board of Directors of the Company have recommended a dividend of Rs. 1.40 per share aggregating to Rs. 313.6 crore (including dividend distribution tax of Rs. 45.55 crore) for the year ended 31st March, 2013.

Projects – in India

		Estimated Capacity	Actual or estimated
Location	Description of Expansion	(at full capacity)	Commission Date/ Progress Update
India
Hirakud, Odisha	Smelter Expansion	52 Kt	Under Commissioning
	Captive Power Plant Expansion	100 MW
	Rolling Plant	135 Kt	Partially Commissioned
Rayagada, Odisha (Utkal Alumina)	Alumina Refinery)	1500 Kt	Under Commissioning
	Captive Power Plant	90 MW
Mahan, Madhya Pradesh (Mahan Aluminium)	Aluminium Smelter	360 Kt	First Metal Tapped, commissioning being undertaken in phased manner
	Captive Power Plant	900 MW
Lapanga, Odisha  (Aditya Aluminium)	Aluminium Smelter	360 Kt	2013
	Captive Power Plant	900 MW

 

All these ongoing projects of the Company with a cumulative investment of around Rs 28,000 crore have either been commissioned or are in advanced stages of commissioning/implementation.

Projects - Overseas

					Estimated Capacity		Actual or estimated
	Location		Description of Expansion		(at full capacity)		Commission Date/ Progress Update
North America
Oswego, NY		Automotive sheet finishing plant		200 kt		Mid CY2013
Europe
Nachterstedt, Germany		Recycling expansion		250 kt		Mid CY2014
Asia
Ulsan & Yeoungju, South Korea		Rolling expansion		350 kt		Mid CY2013
Yeoungju,South Korea		Recycling expansion		265 kt		Oct-12
Changzhou, China		Automotive sheet finishing plant		120kt		End CY2014
South America
Pinda, Brazil		Rolling expansion		220 kt		Dec-12
Pinda, Brazil		Can coating line		100 kt		End CY2013
Pinda, Brazil		Recycling expansion		190 kt		End CY2013

 

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