28 January 2014 For personal use only Email: ssharma ... · Gujarat NRE Coking Coal Limited...
Transcript of 28 January 2014 For personal use only Email: ssharma ... · Gujarat NRE Coking Coal Limited...
GUJARAT NRE COKING COAL LTD ABN 28 111 244 896 / ACN 111 244 896
POSTAL ADDRESS: PO BOX 281, FAIRY MEADOW, NSW 2519 CORPORATE ADDRESS: LOT 31, 7 PRINCES HIGHWAY, CORRIMAL, NSW 2518
PHONE NO: +61 (02) 4223 6800 FAX: +61 (02) 4283 7368 E-MAIL: [email protected]
28 January 2014 Ms Emma Badhni Market Announcements Office Australian Securities Exchange Level 4, 20 Bridge Street SYDNEY NSW 2000 ASX Code: GNM Dear Ms Emma Please note that the Company has prepared and releasing following unaudited management accounts for a period ending 15 Nov 2013 and quarter ending 31 Dec 2013. The Company is now controlled and managed by Jindal Steel & Power (Mauritius) Limited (JSPL), and these unaudited management accounts are prepared for JSPL Group consolidation. Thank you
Enquiries
Any enquiries regarding the Entitlement Offer should be directed to:
Sanjay Sharma Company Secretary Ph: 02 4223 6830 Fax: 02 4283 7449 Email: [email protected]
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Gujarat NRE Coking Coal Limited ABN 28 111 244 896
Unaudited Special Purpose Management Accounts- 15th November 2013
Important Note: Accounts prepared and presented here are for a special purpose only. These accounts are not audited or reviewed by the auditors of the Company.
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Gujarat NRE Coking Coal Limited Statement of profit or loss and other comprehensive income For the period ended 15 November 2013
Consolidated 15/11/2013
(for 45 days)
30/09/2013 (for 6
months) $'000 $'000
Revenue 2,692 40,344
Other income - 275
Expenses Cost of sales (9,581) (61,046)Distribution expenses (1,524) (13,585)Administrative expenses (1,535) (11,227)Environmental expenses (190) (4,284)Loss on disposal of assets - (6,408)Net foreign exchange loss unrealised (4,807) (40,512)Finance costs (2,095) (11,158)
Loss before income tax expense (17,040) (107,601)
Income tax expense - -
Less loss for post acquisition for the period between 16/11/13 to 30/11/13 4,260 -
Loss after income tax expense and post acquisition for the period attributable to the owners of Gujarat NRE Coking Coal Limited (12,780) (107,601)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss Gain/(loss) on revaluation of available-for-sale financial assets - 150 Income tax on item of other comprehensive income - (45)
Other comprehensive income for the period, net of tax - 105
Total comprehensive income for the period attributable to the owners of Gujarat NRE Coking Coal Limited (12,780) (107,496)
Unaudited Special Purpose Management Accounts- 15th November 2013 Page 1 of 9
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes
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15/11/2013 30/09/2013$'000 $'000
11,902 25,270 80,570 73,197 17,782 14,987
110,254 113,454
2,970 2,970733,732 726,612
360 360376 376
737,438 730,318
847,692 843,772
133,534 169,274 329,228 329,228 59,367 66,301
199 19913,362 13,785
535,690 578,787
62,181 68,084 10,910 10,910 15,868 15,868 88,959 94,862
624,649 673,649
223,043 170,123
705,334 639,634 21,397 21,397
(503,688) (490,908)
223,043 170,123
Gujarat NRE Coking Coal LimitedStatement of financial positionAs at 15 November 2013
Consolidated
Trade and other payablesBorrowings
Derivative financial instrumentsProvisions
Total assets
Issued capitalEquity
Non-current liabilities
Bonds
Total non-current liabilities
Net assets
Borrowings
Total equity
Accumulated losses
Trade and other receivablesInventories
Total current liabilities
Working capital facilities from banks
Current liabilities
Non-current assets
Total current assets
Available-for-sale financial assets
Current assets
Assets
Cash and cash equivalents
Reserves
Property, plant and equipmentExploration and licensesDeposits
Restoration guarantee
Total liabilities
Liabilities
Total non-current assets
The above statement of financial position should be read in conjunction with the accompanying notes
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Totalequity
$'000 $'000 $'000 $'000
639,634 20,871 (383,307) 277,198
- - (107,601) (107,601)
- - - 105 - 105
- - - 105 (107,601) (107,496)
- 421 - 421
- - 639,634 21,397 (490,908) 170,123
Totalequity
$'000 $'000 $'000 $'000
639,634 21,397 (490,908) 170,123
- - (12,780) (12,780)
- - - - - -
- - - - (12,780) (12,780)
65,700 - - 65,700
- - 705,334 21,397 (503,688) 223,043
Reserves profitsRetained
capitalIssued
ReservesAccumulated
losses
ConsolidatedBalance at 1 April 2013
Loss after income tax expense for the period
Total comprehensive income for the period
Share-based payments
Balance at 30 September 2013
Consolidated
Transactions with owners in their capacity as owners:
Gujarat NRE Coking Coal Limited
For the period ended 15 November 2013Statement of changes in equity
Other comprehensive income for the period, net of tax
Issuedcapital
Other comprehensive income for the period, net of tax
Loss after income tax expense for the period
Total comprehensive income for the period
Balance at 1 October 2013
Contributions of equity, net of transaction costs
Balance at 15 November 2013
Transactions with owners in their capacity as owners:
The above statement of changes in equity should be read in conjunction with the accompanying notes
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15/11/2013 (for 45 days)
30/09/2013 (for 6
months)$'000 $'000
2,666 40,233
26 111
2,692 40,344
15/11/2013 (for 45 days)
30/09/2013 (for 6
months)$'000 $'000
- 275
15/11/2013 30/09/2013$'000 $'000
11,902 25,270
Calculation 2. Other income
Net foreign exchange gain
Consolidated
Calculation 3. Current assets - cash and cash equivalents
Consolidated
Cash at bank
Other revenue
Revenue
Calculation 1. Revenue
Other income
Revenue
Consolidated
Gujarat NRE Coking Coal LimitedCalculations15 November 2013
Sales revenue
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Gujarat NRE Coking Coal LimitedCalculations15 November 2013
15/11/2013 30/09/2013$'000 $'000
32,162 38,154 3,027 3,293
14,650 21,480 17,524 6,72913,207 3,541
80,570 73,197
15/11/2013 30/09/2013$'000 $'000
3,516 3,59514,266 11,392
17,782 14,987
15/11/2013 30/09/2013$'000 $'000
2,850 2,850120 120
2,970 2,970
Consolidated
Calculation 5. Current assets - inventories
Stores and consumables
Consolidated
Bills discounted against receivable from GNCL
Trade receivables
Calculation 4. Current assets - trade and other receivables
Other receivables
ROM coal stock
Loans to GNCL and associatesPrepayment
Port Kembla Coal TerminalShree Minerals Limited
Calculation 6. Non-current assets - available-for-sale financial assets
Consolidated
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Gujarat NRE Coking Coal LimitedCalculations15 November 2013
15/11/2013 30/09/2013$'000 $'000
43,202 43,202 43,202 43,202
2,810 2,330 (197) (197)
2,613 2,133
253,902 254,518 (61,266) (57,904)192,636 196,614
545,511 532,924 (249,763) (247,794)295,748 285,130
376,974 376,974 (219,566) (219,566)157,408 157,408
15,242 15,242 (2,898) (2,898)12,344 12,344
58,708 58,708 (28,927) (28,927)29,781 29,781
733,732 726,612
15/11/2013 30/09/2013$'000 $'000
5,600 5,600 (5,240) (5,240)
360 360
Deferred restoration - at costLess: Accumulated depreciation
Pre-production expenses
Less: Accumulated depreciation
Less: Accumulated depreciation
Less: Accumulated depreciation
Plant and equipment - at cost
Land - at cost
Opening value
Consolidated
Impairment
Calculation 7. Non-current assets - property, plant and equipment
Calculation 8. Non-current assets - exploration and licenses
Less: Accumulated depreciationMining lease - at cost and valuation
Mine development - at cost
Less: Accumulated depreciation
Buildings - at cost
Consolidated
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Gujarat NRE Coking Coal LimitedCalculations15 November 2013
15/11/2013 30/09/2013$'000 $'000
376 376
15/11/2013 30/09/2013$'000 $'000
86,136 67,839 19,901 26,610 27,497 74,825
133,534 169,274
15/11/2013 30/09/2013$'000 $'000
329,228 329,228
15/11/2013 30/09/2013$'000 $'000
14,650 21,480 24,262 24,262 20,455 20,559
59,367 66,301
15/11/2013 30/09/2013$'000 $'000
199 199
State Bank of India working capital loan
Bills discounted with State Bank of India
Consolidated
Accruals and others
Consolidated
Trade payables
Other payables
Calculation 10. Current liabilities - trade and other payables
NRE No. 1 Colliery Trust Funds
Calculation 9. Non-current assets - deposits
Bank loans
Consolidated
Consolidated
Consolidated
Bank of Baroda working capital loan
Calculation 12. Current liabilities - working capital facilities from banks
Calculation 13. Current liabilities - derivative financial instruments
Calculation 11. Current liabilities - borrowings
Interest rate swap contracts
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Gujarat NRE Coking Coal LimitedCalculations15 November 2013
15/11/2013 30/09/2013$'000 $'000
13,362 13,785
15/11/2013 30/09/2013$'000 $'000
62,181 68,084
15/11/2013 30/09/2013$'000 $'000
6,924 6,924 3,986 3,986
10,910 10,910
15/11/2013 30/09/2013$'000 $'000
15,454 15,454 272 272 142 142
15,868 15,868
15/11/2013 30/09/2013$'000 $'000
705,334 639,634
Restoration of mine siteRestoration liability unwinding
Consolidated
Consolidated
Calculation 18. Equity - issued capital
Consolidated
Calculation 15. Non-current liabilities - borrowings
Calculation 14. Current liabilities - provisions
Consolidated
Ordinary shares - fully paid
Employee benefits
Bank loans
Fully convertible bonds - 8%
Consolidated
Calculation 16. Non-current liabilities - bonds
Restoration guarantees
Calculation 17. Non-current liabilities - restoration guarantee
Accumulated interest on the above
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Gujarat NRE Coking Coal LimitedCalculations15 November 2013
15/11/2013 30/09/2013$'000 $'000
840 840 2,356 2,356
18,201 18,201
21,397 21,397
15/11/2013 (for 45 days)
30/09/2013 (for 6
months)$'000 $'000
(490,908) (383,307)(12,780) (107,601)
(503,688) (490,908)
Loss after income tax expense for the period
Consolidated
Accumulated losses at the end of the financial period
Bonds reserveAvailable-for-sale reserve
Share-based payments reserve
Calculation 19. Equity - reserves
Accumulated losses at the beginning of the financial period
Calculation 20. Equity - accumulated losses
Consolidated
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Gujarat NRE Coking Coal Limited ABN 28 111 244 896
Unaudited Quarterly Management Accounts – 31st December 2013
Unaudited Quarterly Management Accounts – 31st December 2013 Page 1 of 10
Important Note: Accounts prepared and presented here are for a special purpose only. These accounts are not audited or reviewed by the auditors of the Company.
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31/12/2013 (for 3
months)
30/09/2013 (for 6
months)$'000 $'000
7,722 40,344
- 275
(16,694) (61,046)(2,839) (13,585)(2,720) (11,227)
(520) (4,284) - (6,408)
(6,765) (40,512)(7,197) (11,158)
(29,013) (107,601)
- -
(29,013) (107,601)
(210) 150 - (45)
(210) 105
(29,223) (107,496)
Gain/(loss) on revaluation of available-for-sale financial assetsItems that may be reclassified subsequently to profit or loss
Loss after income tax expense for the period attributable to the owners of Gujarat NRE Coking Coal Limited
Income tax expense
Other income
Revenue
Net foreign exchange loss unrealisedLoss on disposal of assets
Finance costs
Other comprehensive income
Gujarat NRE Coking Coal Limited
For the period ended 31 December 2013Statement of profit or loss and other comprehensive income
Consolidated
Cost of salesDistribution expenses
Environmental expenses
Expenses
Administrative expenses
Loss before income tax expense
Other comprehensive income for the period, net of tax
Total comprehensive income for the period attributable to the owners of Gujarat NRE Coking Coal Limited
Income tax on item of other comprehensive income
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes
Unaudited Quarterly Management Accounts – 31st December 2013 Page 2 of 10F
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31/12/2013 30/09/2013$'000 $'000
21,682 25,270 86,260 73,197 17,240 14,987 1,217 -
126,399 113,454
2,670 2,970744,103 726,612
360 360376 376
747,509 730,318
873,908 843,772
108,142 169,274 345,778 329,228 49,806 66,301
199 19913,928 13,785
517,853 578,787
64,398 68,084 10,910 10,910 15,995 15,868 91,303 94,862
609,156 673,649
264,752 170,123
763,486 639,634 21,187 21,397
(519,921) (490,908)
264,752 170,123
Reserves
Property, plant and equipmentExploration and licensesDeposits
Restoration guarantee
Total liabilities
Liabilities
Total non-current assets
Current assets
Assets
Cash and cash equivalents
Deposits
Accumulated losses
Trade and other receivablesInventories
Total current liabilities
Working capital facilities from banks
Current liabilities
Non-current assets
Total current assets
Available-for-sale financial assets
Total equity
Bonds
Total non-current liabilities
Net assets
Borrowings
Gujarat NRE Coking Coal LimitedStatement of financial positionAs at 31 December 2013
Consolidated
Trade and other payablesBorrowings
Derivative financial instrumentsProvisions
Total assets
Issued capitalEquity
Non-current liabilities
The above statement of financial position should be read in conjunction with the accompanying notes
Unaudited Quarterly Management Accounts – 31st December 2013 Page 3 of 10F
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Totalequity
$'000 $'000 $'000 $'000
639,634 20,871 (383,307) 277,198
- - (107,601) (107,601)
- - - 105 - 105
- - - 105 (107,601) (107,496)
- 421 - 421
- - 639,634 21,397 (490,908) 170,123
Totalequity
$'000 $'000 $'000 $'000
639,634 21,397 (490,908) 170,123
- - (29,013) (29,013)
- - - (210) - (210)
- - - (210) (29,013) (29,223)
123,852 - - 123,852
- - 763,486 21,187 (519,921) 264,752
Transactions with owners in their capacity as owners:
Balance at 31 December 2013
Contributions of equity, net of transaction costs
Issuedcapital
Other comprehensive income for the period, net of tax
Loss after income tax expense for the period
Total comprehensive income for the period
Balance at 1 October 2013
Gujarat NRE Coking Coal Limited
For the period ended 31 December 2013Statement of changes in equity
Other comprehensive income for the period, net of tax
Loss after income tax expense for the period
Total comprehensive income for the period
Share-based payments
Balance at 30 September 2013
Consolidated
Transactions with owners in their capacity as owners:
Reserves profitsRetained
capitalIssued
ReservesAccumulated
losses
ConsolidatedBalance at 1 April 2013
The above statement of changes in equity should be read in conjunction with the accompanying notes
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31/12/2013 (for 3
months)
30/09/2013 (for 6
months)$'000 $'000
7,673 40,233
49 111
7,722 40,344
31/12/2013 (for 3
months)
30/09/2013 (for 6
months)$'000 $'000
- 275
31/12/2013 30/09/2013$'000 $'000
21,682 25,270
Sales revenue
Calculations31 December 2013
Gujarat NRE Coking Coal Limited
Calculation 1. Revenue
Other income
Revenue
Consolidated
Other revenue
Revenue
Calculation 3. Current assets - cash and cash equivalents
Consolidated
Cash at bank
Consolidated
Net foreign exchange gain
Calculation 2. Other income
Unaudited Quarterly Management Accounts – 31st December 2013 Page 5 of 10F
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Calculations31 December 2013
Gujarat NRE Coking Coal Limited
31/12/2013 30/09/2013$'000 $'000
36,610 38,154 3,479 3,2935,090 21,480
27,181 6,72913,900 3,541
86,260 73,197
31/12/2013 30/09/2013$'000 $'000
3,721 3,59513,519 11,392
17,240 14,987
31/12/2013 30/09/2013$'000 $'000
1,217 -
31/12/2013 30/09/2013$'000 $'000
2,550 2,850120 120
2,670 2,970
Shree Minerals Limited
Calculation 7. Non-current assets - available-for-sale financial assets
Consolidated
Loans to GNCL and associatesPrepayment
Port Kembla Coal Terminal
ROM coal stock
Other receivables
Consolidated
Calculation 6. Current assets - deposits
Calculation 4. Current assets - trade and other receivables
Trade receivables
Bills discounted against receivable from GNCL
Security deposits
Consolidated
Calculation 5. Current assets - inventories
Stores and consumables
Consolidated
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Calculations31 December 2013
Gujarat NRE Coking Coal Limited
31/12/2013 30/09/2013$'000 $'000
43,202 43,202 43,202 43,202
2,810 2,330(218) (197)
2,592 2,133
259,056 254,518 (62,926) (57,904)196,130 196,614
553,393 532,924 (250,649) (247,794)302,744 285,130
376,974 376,974 (219,584) (219,566)157,390 157,408
15,242 15,242 (2,962) (2,898)12,280 12,344
58,708 58,708 (28,943) (28,927)29,765 29,781
744,103 726,612
31/12/2013 30/09/2013$'000 $'000
5,600 5,600(5,240) (5,240)
360 360
Consolidated
Buildings - at cost
Mine development - at cost
Less: Accumulated depreciation
Less: Accumulated depreciationMining lease - at cost and valuation
Calculation 9. Non-current assets - exploration and licenses
Calculation 8. Non-current assets - property, plant and equipment
ImpairmentOpening value
Consolidated
Land - at cost
Less: Accumulated depreciation
Plant and equipment - at cost
Pre-production expenses
Less: Accumulated depreciation
Less: Accumulated depreciation
Deferred restoration - at costLess: Accumulated depreciation
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Calculations31 December 2013
Gujarat NRE Coking Coal Limited
31/12/2013 30/09/2013$'000 $'000
376 376
31/12/2013 30/09/2013$'000 $'000
65,326 67,839 23,904 26,610 18,912 74,825
108,142 169,274
31/12/2013 30/09/2013$'000 $'000
345,778 329,228
31/12/2013 30/09/2013$'000 $'000
5,090 21,480 24,262 24,262 20,454 20,559
49,806 66,301
31/12/2013 30/09/2013$'000 $'000
199 199
Calculation 13. Current liabilities - working capital facilities from banks
Calculation 14. Current liabilities - derivative financial instruments
Calculation 12. Current liabilities - borrowings
Interest rate swap contracts
Consolidated
Consolidated
Bank of Baroda working capital loan
Calculation 10. Non-current assets - deposits
Bank loans
Consolidated
NRE No. 1 Colliery Trust Funds
Calculation 11. Current liabilities - trade and other payables
Other payables
Trade payablesAccruals and others
Consolidated
Bills discounted with State Bank of India
Consolidated
State Bank of India working capital loan
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Calculations31 December 2013
Gujarat NRE Coking Coal Limited
31/12/2013 30/09/2013$'000 $'000
13,928 13,785
31/12/2013 30/09/2013$'000 $'000
64,398 68,084
31/12/2013 30/09/2013$'000 $'000
6,924 6,9243,986 3,986
10,910 10,910
31/12/2013 30/09/2013$'000 $'000
15,454 15,454 272 272269 142
15,995 15,868
31/12/2013 30/09/2013$'000 $'000
763,486 639,634
Restoration guarantees
Calculation 18. Non-current liabilities - restoration guarantee
Accumulated interest on the above
Consolidated
Calculation 17. Non-current liabilities - bonds
Fully convertible bonds - 8%
Bank loans
Employee benefits
Ordinary shares - fully paid
Calculation 15. Current liabilities - provisions
Consolidated
Calculation 16. Non-current liabilities - borrowings
Consolidated
Consolidated
Calculation 19. Equity - issued capital
Restoration of mine siteRestoration liability unwinding
Consolidated
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Calculations31 December 2013
Gujarat NRE Coking Coal Limited
31/12/2013 30/09/2013$'000 $'000
630 8402,356 2,356
18,201 18,201
21,187 21,397
31/12/2013 (for 3
months)
30/09/2013 (for 6
months)$'000 $'000
(490,908) (383,307)(29,013) (107,601)
(519,921) (490,908)
Accumulated losses at the beginning of the financial period
Calculation 21. Equity - accumulated losses
Consolidated
Share-based payments reserve
Calculation 20. Equity - reserves
Bonds reserveAvailable-for-sale reserve
Accumulated losses at the end of the financial period
Loss after income tax expense for the period
Consolidated
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