Statement of Assets and Liabilities for last Five Years and Latest ...

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ICRA limitedAn Associate of Moody's Investors ServiceCORPORATE OFFICEBuilding No.8, 2nd Floor, Tower A; DLF Cyber City, Phase II; Gurgaon 122 002Tel: +91 124 4545300; Fax: +91 124 4545350Email: info@icraindia.com; Website: www.ic•·a.inREGISTERED OFFICE1105, Kailash Building, 11th Floor; 26 Kasturba Gandhi Marg; New Delhi 110001'l'el: +91 11 23357940-50; Fax: +91 ll 23357014Branches: .Mumbai: 'l'el.: + (91 22) 24331046/53/62174/86/87, Fax: + (91 22) 2433 1390 o Chennai: Tel+ (9144) 2434 0043/9659/8080, 2433 0724/3293/3294, Fax+ (9144) 2434 3663 o Kolkata: Tel+ (9133) 22878839/2287 6617/2283 1411/2280 0008, Fax+ (9133) 2287 0728 o Bangalore: Tel+ (9180) 2559 7401/4049Fax+ (91 80) 559 4065 o Ahmedabad: Tel+ (91 79) 2658 4924/5049/2008, Fax+ (91 79) 2658 4924 oHyderabad: Tel +(91 40) 2373 506117251, Fax+ (91 40) 2373 5152 o Pune: Tel+ (9120) 2552 0194/95/96,Fax+ (91 20) 553 9231©Copyright, 2008, lCRA Limited. All Rights Reserved.Contents may b1;1 used fr1o1ely with due-acknowledgement to lORA.ICRA ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments. lCRA ratings aresubject tO a process of surveillance, which may lead to revision in ratings. Please visit our website (www.icra.in,) orcontact any lCRA office for the latest information on ICRA ratings outstanding. All information contained herein hasbeen obtained by ICRA from sources believed by it to be accurate and reliable. Although reasonable care has been takenw ensure that the information herein is true, such information is provided 'as is' without any warranty of any kind, andICRA in particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness orcompleteness of any such information. All information contained herein must be construed solely as statements ofopinion, and ICRA shall not be liable for any losses inc\ured by users from any use of this publication or its contents.
ICRA Credit PerspectiveIndian Railwa}' Finance Corporation LimitedKe•/ FinanCial Ratios . :,1:: ;..:··· Mar-12 Mar-11 ' .. Mar~10 • ·'. Mat~09·•OPERATING RATIOSYield on Average Eaming Assets 8.57% 8.70% 9.14% 9.08%Cost of Averaqe Interest BearinQ Funds 8.09% 8.06% 8.48% 8.43%Gross Interest Spread 0.48% 0.64% 0.66% 0.64%PROFITABILITY RATIOSInterest Income I Avg. Total Assets 8.57% 8.70% 9.14% 9.08%Interest Expense I Avg. Total Assets 6.66% 6.62% 6.99% 6.94%Net Interest MarqiniAvq. Tot Assets 1.91% 2.08% 2.15% 2.13%Fee Based and Other lncomeiAvg. Tot Assets 0.03% 0.05% 0.14% 0.07%Fee based and Other lncomeiOperatlnQ Income 1.44% 2.60% 6.33% 1.71%Op_eratin11 Expenses/Av~. Total Assets 0.02% 0.02% 0.02% 0.06%Operating Profitt Avq. Total Assets 1.89% 2.06% 2.13% 3.91%Provisions I Avq. Total Assets 0.00% 0.00% 0.00% 0.00%Net profit on sale of securities & assets I Ava. Total Assets 0.00% 0.00% 0.00% 0.00%Net profit on sale of securities & assets /Non Interest Income 0.00% 0.00% 0.00% 0.00%Profit before Tax I Average Total Assets 1.89% 2.06% 2.13% 3.91%Net profit on sale of securities & assets IPBT 0.00% 0.00% 0.00% 0.00%Tax I Profit before Tax 52.55% 45.99% 43.84% 72.51%Profit after Tax I Average Total Assets 0.90% 1.11% 1.20% 1.07%Dividend I Profit after Tax 24.17% 24.03% 26.43% 64.71%Profit after Tax I Net worth 9.93% 12.62% 14.39% 13.13%Accretion to rese!Ves/ Avq. total assets 0.68% 0.84% 0.88% 0.38%EFFICIENCY RATIOSFee Based and Other Income I Operating Expenses 783.55% 1164.99% 3235.98% 688.68%Ooerating Cost to OoeraHna Income Ratio 0.93% 1.07% 0.84% 1.45%Emplovee Expenses I Operating Expenses 19.74% 20.81% 23.24% 17.12%CAPITALISATION RATIOSNet Worth/ Total Assets 8.91% 9.18% 8.37% 8.23%Total Debt I Net worth 9.30 8.90 9.87 9.97Net NPAs/Net worth 0.00% 0.00% 0.00% 0.00%LIQUIDITY RATIOSTotal Liquid Assets /Total Liability 2.55% 1.06% 3.71% 3.03%Total Advances/Total Deposits NA NA NA NAASSET QUALITYGross NPA/Gross Advances 0.00% 0.00% 0.00% 0.00%Net NPAINet Advances 0.00% 0.00% 0.00% 0.00%Provisions/Gross NPA 0.00% 0.00% 0.00% 0.00%Gross NPA Generation rate 0.00% 0.00% 0.00% 0.00%
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Statement of Assets and Liabilities
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CASH FLOW STATEMENTAnnexure - III(
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2. Reserves and Surplus( in Lakhs)P
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3.1.1 Maturity profile and Rate of
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65th "J" Taxable Non‐Cum. Bonds 8
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starting from 27‐07‐201416th "O
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HDFC Bank Ltd. 8.44%, Fixed 1‐Apr
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Syndicated Foreign Currency Loan‐
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As at30‐09‐2012As at31‐03‐2
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Total FixedAssets 1,721.57 1,707.80
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Balance in Franking Machine 0.34 0.
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18. Other IncomeTotal 268780.41 464
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Office Maintenance Expenses 20.25 3
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Significant Accounting policies and
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y the Reserve Bank of India vide th
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(f) (i) Interest rate variation on
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1 JPY 3 Billion 37.04 Million 1 JPY
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11.a. The Company has not taken on
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Gross Investment in Lease and Prese
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the year plan assetsTotal Gain / (L
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*The above provisions are liabiliti
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A. Significant Accounting PoliciesF
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Further, in terms of Draft Guidelin
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(P.Y. Rs. 4590 Lakhs). After adjust
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No. ofContractsAs at 31-03-2012 As
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10. Expenditure in Foreign Currency
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E. Less Capital Recovery provided u
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Changes in the Fair Value of Plan A
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Actuarial Assumptions:AssumptionsGr
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amortised over the balance tenor of
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) Recognition at the end of Account
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Deferred tax expense or benefit is
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Finance has exempted the Lease Agre
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The foreign currency borrowings out
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10. Expenditure in Foreign Currency
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15. Major components of net deferre
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Current Service Cost 3.05 1.63 1.02
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Actuarial Assumptions:As on 31-03-2
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portion of the future savings in th
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) Recognition at the end of Account
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10) Employee BenefitsEmployee Benef
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5. Decrease in liability due to exc
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7. Office Building including parkin
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12. The balances under some items o
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Unearned Finance Income 2009322 171
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the yearActualReturn onplan assets1
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Statementof Profit &LossActuarial A
Page 95 and 96: amortised over the balance tenor of
Page 97 and 98: ) Recognition at the end of Account
Page 99 and 100: 10) Employee BenefitsEmployee Benef
Page 101 and 102: amortisation in future, of the amou
Page 103 and 104: As part of hedging strategy, the Co
Page 105 and 106: Since the entire future lease renta
Page 107 and 108: assets assigned during the yearF. C
Page 109 and 110: Benefits Paid - -Fair Value of Plan
Page 111 and 112: value Rs. 1,000/- eachc) Earning Pe
Page 113 and 114: Financial Year 2007-08A. Significan
Page 115 and 116: and are capable of reversal in one
Page 117 and 118: ForeignCurrency1 JPY 2.65 Billion U
Page 119 and 120: Govt. may from time to time specify
Page 121 and 122: previous Financial YearB. Less valu
Page 123 and 124: 22. Payment to auditors include Rs.
Page 125 and 126: Annexure - VIIStatement of Dividend
Page 127 and 128: Annexure - IXRelated Party Transact
Page 129 and 130: Annexure - XICapitalisation Stateme
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Page 133 and 134: '-. ,,, I__ , __ , _____ ~-~---..
Page 135 and 136: Credit Rating Report 1Indian Railwa
Page 137 and 138: Given IRFC's modest accruals to net
Page 139 and 140: Credit Strengths.. Strong ownership
Page 141 and 142: CREDIT PERSPECTIVEDependence on MOR
Page 143 and 144: Asset quality profile favourableGiv
Page 145: ANNEXURE 1: RATING DETAILSInstrumen
Page 149 and 150: ·PROFIT: & .LOSS ACCOUNT_t'lo of O
Page 151 and 152: This is a system generated report a
Page 155 and 156: Sub : Trade statistics of IRFC N1 f
Page 161 and 162: Sub : Trade statistics of IRFC N2 f
Page 163 and 164: SCRIP CODE TRADE DATE ABBREVIATEDNA
Page 171 and 172: Ref. No. :NSE/LIST/2012Date :Decemb
Page 173 and 174: Sub : Trade Statistics Report from
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Sub : Trade Statistics Report from
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ANNXEUREIVCONSENT OF DEBENTURE TRUS
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