About INKEL LIMITED UNLISTED SHARE
INKEL LIMITED is a joint initiative among Prominent global investors, Government agencies and NRI industrialists/businessmen. INKEL Limited was established by the Government of Kerala to channelize private capital and professional expertise into large scale projects such as roads & bridges, industrial business park, transport, power, trade centres, etc.
Inkel Limited vision is to become an one stop destination for executing large scale projects related to infrastructure and to develop the state’s economy. It will act as a platform for private investors to invest in Kerala’s infrastructural projects.
The company provides services ranging from initial planning to the completion and maintenance of projects. The sectors in which Inkel Limited is working are Construction, roads & services, industrial infrastructure, solar energy, engineering designs & consultancy, PMC, advisory & management consultancy, health & hospitality and Education & skill development.
Inkel Limited has got the status of Special Purpose Vehicle by the Government of Kerala to handle health care projects under the ‘Healthcare to the Poor’ mission. Moreover, The company is responsible to develop 39 schools. Inkel Limited is also working on construction of 23 Sub Treasury Buildings in different districts of Kerala.
INCORPORATION DETAILS
|
CIN |
U45209KL2007PLC020471 |
|
Registration Date |
09 March 2007 |
|
Category/Sub-category of the Company |
Closely held public Company limited by shares |
|
Address of the Registered office and contact details |
Door No. 7/473 ZA-5&6, 2nd Floor, Ajiyal Complex, Kakkanad, Cochin - 682030 Ph: 0484 – 6491138 |
|
Name, Address and Contact Details of Registrar and Transfer Agent, if any |
Integrated Registry Management Services Pvt. Ltd. No. 30 Ramana Residency, 4th Cross Sampige Road Malleswaram, Bengaluru - 560 003 Tel: (080) 23460815 |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
|
Name and Description of main products/services |
NIC Code of the product/service |
% to the total turnover of the Company |
|
Infrastructural projects |
45 |
100% |
BOARD OF DIRECTORS
Shri E P Jayarajan (Chairman)
Dr. K Ellangovan IAS (Principal Secretary, Industries)
Shri. Varghese Kurian (Managing Director, ALNAMAL Group)
Shri. C V Rappai (Director & GM, Video Home)
Shri. Jayakrishnan Krishna Menon (Chairman, ABN Corporation, Doha)
Shri. Jacob Kovoor(Independent Director)
Smt. Vidhya Sangeeth(Independent Director)
Mr. A Mohanlal (Managing Director)
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
|
Name of the Company |
Subsidiary/Associate |
% of shares held |
|
INKEL-KSIDCProjects Limited |
Subsidiary |
74% |
|
MIV LogisticsPrivate Limited |
Associate |
39.43% |
|
Thalikulam PURAPrivate Limited |
Subsidiary |
98.86% |
|
Tirurangadi PURAPrivate Limited |
Subsidiary |
98.84% |
|
INKES TradeCentre Limited |
Subsidiary |
74% |
|
Seguro – INKELConsortium LLP |
Associate |
45% |
|
INKEL-EKK RoadsPrivate Limited |
Subsidiary |
72% |
|
Seguro Foundations& Structure Pvt Ltd |
Subsidiary |
65% |
|
INKELInfrastructureDevelopmentProjects Limited |
Subsidiary |
100% |
SHAREHOLDING PATTERN (As of 31-03-2020)
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
Government of Kerala |
4,05,00,000 |
22.78% |
|
2 |
Government Companies |
1,20,00,000 |
6.74% |
|
3 |
Directors / Relatives of Directors |
7,70,74,042 |
43.35% |
|
4 |
Foreign Holdings |
2,31,33,953 |
13.01% |
|
5 |
Banks & Corporate Holdings |
90,85,544 |
5.11% |
|
6 |
Others |
1,60,20,795 |
9.01% |
|
|
Total |
17,78,14,334 |
100.00% |
INDUSTRY OUTLOOK
The infrastructure sector is a key driver not just for India’s economy but also for the economy of states. The infrastructure sector is heavily responsible for driving India’s overall development. The sector mainly includes bridges & dams, power, roads, and urban infrastructure development.
The path to infrastructure development in India is exciting and promising. The COVID 19 pandemic and the nationwide lockdown made the infrastructure sector to stop. But, after the restriction of COVID 19 being uplifted, the work in the infrastructure sector has progressed. Additionally, the government's reforms and financing models are increasing the confidence of investors. In November 2020, the Government of India extended the viability gap funding for public-private partnership projects till FY 2024-25 and allocated Rs. 8,100 Crores for the same purpose. To increase foreign funding in the infrastructure sector, Tax exemptions were given on interest dividend and capital gain incomes of sovereign wealth funds & global pension funds.
In the Union budget of 2021, the Government of India has given very high importance to infrastructure development. They proposed Rs. 5.54 lakh crore for capital expenditure. In which, Rs. 20,000 Crores are allocated to set up Development Financial Institution (DFI) to act as a provider, enabler, and catalyst for infrastructure financing.
In Kerala, a project named Integrated Manufacturing Cluster is proposed to facilitate investment, and innovation, enhance skill development and build manufacturing infrastructure. A Multi-Modal Logistics park including a Free Trade Warehousing Zone is proposed to be set up in Cochin Port. More projects like Kochi Metro Bliss City, International Exhibition and Conference Centre, etc are proposed.
KEY FINANCIALS OF INKEL LIMITED (In Rs. Lakhs)
|
Particulars |
2020 |
2019 |
2018 |
2017 |
|
Revenue from Operations |
6,615.17 |
10,235.45 |
19,130.33 |
4,077.34 |
|
EBITDA |
1,667.09 |
829.53 |
3,137.68 |
400.01 |
|
EBITDA margin |
25.20% |
8.10% |
16.40% |
9.81% |
|
Finance Cost |
2,561.22 |
2,085.83 |
978.23 |
257.39 |
|
Depreciation |
572.64 |
555.26 |
467.12 |
464.71 |
|
Other Income |
1,114.89 |
938.17 |
478.79 |
380.91 |
|
Profit Before share in profit/loss from associates and Tax |
-351.88 |
-873.39 |
2,171.12 |
58.81 |
|
Share of profit/loss from associates |
61.31 |
37.01 |
0.00 |
0.00 |
|
Total Tax |
-44.15 |
287.88 |
232.25 |
273.28 |
|
Profit After Tax (PAT) |
-246.42 |
-1,124.26 |
1,938.88 |
-214.47 |
|
EPS |
-0.11 |
-0.3 |
1.1 |
-0.07 |
BALANCE SHEET OF INKEL LIMITED(In Rs. Lakhs)
|
Particulars |
2020 |
2019 |
|
ASSETS |
||
|
NON CURRENT ASSETS |
||
|
Tangible assets |
10,880.42 |
11,202.66 |
|
Intangible assets |
17.28 |
7.34 |
|
Investments |
2,041.09 |
1,963.20 |
|
Long term loans and advances |
2,809.51 |
1,203.30 |
|
Tax assets |
213.78 |
195.34 |
|
Other non current assets |
14,138.07 |
15,294.18 |
|
TOTAL NON CURRENT ASSETS |
30,100.14 |
29,866.01 |
|
CURRENT ASSETS |
||
|
Inventories |
265.45 |
131.60 |
|
Trade Receivables |
5,413.05 |
6,890.20 |
|
Cash and Cash Equivalents |
7,592.18 |
5,706.10 |
|
Short-Term Loans and Advances |
5,220.31 |
3,457.30 |
|
Other Current Assets |
2,953.75 |
2,173.91 |
|
TOTAL CURRENT ASSETS |
21,444.74 |
18,359.12 |
|
TOTAL ASSETS |
51,544.88 |
48,225.13 |
|
EQUITY AND LIABILITIES |
||
|
EQUITY |
||
|
Share capital |
17,781.43 |
17,781.43 |
|
Reserves and Surplus |
786.77 |
1,498.30 |
|
Minority Interest |
1,545.82 |
1,603.95 |
|
TOTAL EQUITY |
20,114.02 |
20,883.69 |
|
LIABILITIES |
||
|
NON CURRENT LIABILITIES |
||
|
Long Term Borrowings |
18,518.03 |
13,487.86 |
|
Deferred Tax Liabilities (Net) |
238.49 |
299.46 |
|
Other long term liabilities |
249.47 |
201.19 |
|
Long Term Provisions |
129.59 |
149.39 |
|
TOTAL NON CURRENT LIABILITIES |
19,135.57 |
14,137.89 |
|
CURRENT LIABILITIES |
||
|
Short Term Borrowings |
7,156.81 |
6,407.61 |
|
Trade Payables |
641.48 |
1,861.78 |
|
Other Current Liabilities |
4,452.20 |
4,530.33 |
|
Short-Term Provisions |
44.80 |
403.83 |
|
TOTAL CURRENT LIABILITIES |
12,295.29 |
13,203.55 |
|
TOTAL LIABILITIES |
31,430.86 |
27,341.44 |
|
TOTAL EQUITY AND LIABILITIES |
51,544.88 |
48,225.13 |
DIVIDEND HISTORY
|
Particulars |
2020 |
2019 |
2018 |
|
Dividend (final + interim) (In Rs.) |
Nil |
0.20 |
0.35 |
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company reduced by 35.37% from Rs. 10,235.45 lakhs in FY 2019 to Rs. 6,615.17 lakhs in FY 2020.
Despite sharp fall in operational revenue, EBITDA of the company increased by 101% from Rs. 829.53 lakhs in FY 2019 to Rs. 1,667.09 lakhs in FY 2020. EBITDA margins have grown from 8.10% in FY 2019 to 25.20% in FY 2020. This clearly states that the company has improved its efficiency and productivity in FY 2020.
Finance cost of the company increased by 22.79% from Rs. 2,085.83 lakhs in FY 2019 to Rs. 2,561.22 lakhs in FY 2020.
In FY 2019, the company incurred a loss of Rs. 1,124.26 lakhs, which improved in FY 2020 to a loss of Rs. 246.42 lakhs.
Total debt of the company increased by 29.04% from Rs. 19,895.47 lakhs in FY 2019 to Rs. 25,674.84 lakhs in FY 2020.
Total book value of the company as of 31st March 2020 was Rs. 20,114.02 lakhs, which translates to book value of Rs. 11.31 per equity share.
Current ratio of the company as of 31st march 2020 was 1.74. This states that the company is not facing any liquidity issues.
Reserves and surplus of the company decreased by 47% in FY 2020 to Rs. 786.77 lakhs from Rs. 1,498.30 lakhs in FY 2019.
Debt to Equity ratio of the company as of 31st March 2020 was 1.27.
