MEENAKSHI ENERGY PRIVATE LIMITED

PRESENTATION STRUCTURE

HR
Management team, number of employees since acquisition & function-wise
Joining Since Dec13 (as of 30 Sep 15)
On 16/12/2013, existing n. 90 Employees
+ 101 (Local)
+ 12 (Local Expats)
+ 11 (07 International Expats & 04 Regional
Expats)

Attrition Since Dec13 (as of 30

Sep 15)
- 26 (23 Local & 03 Expats)

PROJECT INFORMATION
Sl

Particulars

Details

Project Details

Phase I

Location

Chillakur Mandal,
Nellore District, AP, India

Capacity

2X150 MW

Project Cost

Rs. 1428 Crs.

Equity

Rs. 371 Crs.

Debt

Rs. 1057 Crs.

COD

Unit 1: 7th Oct, 2012

Unit 2: 30th April, 2013

6

Repayment Start

June, 2012

Last Repayment

Sept, 2023

EXPANSION PROJECT
Company has gone ahead with expansion (Phase-II) project for 700 MW
Consortium of 13 lenders with REC as lead lender
Company has tied up for refinance of loan from SBI and PTC India
Financial Services for Rs. 1046 crs in December, 2014
Cost Overrun Loan of Rs 1131 crs also sanctioned and CLA executed in
March, 2015 on below terms:

Phase II (Loan Details)

Project Cost
Debt
Equity
Debt:Equity

Original
3,120
2,340
780
75:25

Rs. Crores
Revised
5,005
3,471
1,534
69:31

SHAREHOLDING PATTERN
A. Position as on 31.12.2013
S.no

1
2

Name of the
Shareholder
D Suresh
MEIHPL

GDFSEIGD
Total
AA FCDs @ 10/- each
1

Phase-1

Phase -2

Company as a whole

No.of Shares
100

INR MN No. of Shares

0.00
-

100,203,900
285,196,000
385,400,000

1,002.04 97,630,944
2,851.96 277,872,688
3,854.00 375,503,632

976.31
2,778.73
3,755.04

197,834,844
563,068,688
760,903,632

1,978.35
5,630.69
7,609.04

26
74
100

105,832,432

1,058.32

105,832,432

1,058.32

100

MEIHPL

INR MN
-

No.of Shares
100

INR MN Total %
0.00

B. Position as on 31.03.2015
100

0.00

MEIHPL

100,203,900

1,002.04

97,630,944

976.31

GDFSEIGD

665,221,990

6,652.22 754,355,742

Total

765,425,990

D Suresh

2
3

100

0.00

197,834,844

1,978.35

12

7,543.56

1,419,577,732 14,195.78

88

7,654.26 851,986,686

8,519.87

1,617,412,676 16,174.13

100

105,832,432

1,058.32

AA FCDs @ 10/- each

MEIHPL

105,832,432

1,058.32

100

Phase I Loan Status

INR MN

PHASE - I
S
No

Bank Name

Term Loan

Balance on
01.04.2015

Share (%)

Balance As on
29.02.2016

1 State Bank of India

3020.0

2,487.2

29

2,306.0

2 Punjab National Bank

1250.0

1,029.3

12

954.3

3 Andhra Bank

1000.0

823.5

763.5

4 Bank of India

1000.0

823.5

763.5

5 State Bank of Hyderabad

1000.0

823.5

763.5

6 United Bank of India

750.0

617.7

572.7

7 Punjab & Sind Bank

550.0

453.1

420.1

8 Oriental Bank of Commerce

500.0

411.7

381.7

9 State Bank of Bikaner & Jaipur

500.0

411.7

381.7

10 State Bank of Mysore

500.0

411.8

381.8

11 State Bank of Travancore

500.0

411.7

381.7

10,570.0

8,704.7

100

8,070.5

Total

INR 211.4 MN is payable towards principal repayment instalment on 31 st March 2016.

Phase II Loan Status

Sl. No.

Name of the Bank/FI

A
1

Term Loan Lenders

Rural Electrification Corporation Limited
India Infrastructure Finance Company
Ltd
IDBI Bank Limited
UCO Bank
State Bank of Hyderabad
State Bank of Patiala
State Bank of Bikaner and Jaipur
State Bank of Mysore
Bank of India
United Bank of India
Punjab & Sind Bank
State Bank of India
PTC India Financial Services

2
3
4
5
6
7
8
9
10
11
12
13

Total Debt
Equity Infusion by ENGIE

Original Refinance & Additional

Facility Repayment
Facility

Total Term
Loan
Facility

7,500

3,630

11,130

4,500

(2,000)

2,500

3,000
1,400
1,000
1,000
1,000
1,000
1,000
1,000
1,000
-

(2,735)
(1,276)
(500)
(500)
(500)
(215)
(914)
(1,000)
(912)
8,964
1,500

2,735
500
500
483
500
1,975
987

3,000
124
1,000
1,000
983
1,285
86
88
10,938
2,487

23,400

(88)

11,310

34,622

88

Phase I Working Capital

Facility
Fund Based

Existing Facility

Proposed Facility

590

1600

Non-fund based

1500

2180

Total (M INR)

2090

3780

o SBH has completed assessment of enhanced WC requirement for

Rs. 3780 MN.
o Presently WC consortium consists of SBH & PNB
o Request for NOC for increase in WC limits
o In addition to current WC lenders, we have approached some banks
for participation in enhanced WC limits.

Long Term Power Sale Bid Andhra Pradesh (AP)

MEPL has offered lowest bid becoming the L1 bidder (bidder offering lowest tariff in
competitive bidding) as per the provisions of the power sale agreement forming part of
the RFP issued by APSPDCL on behalf of AP DISCOMS.
Particulars

10
10

Details

Capacity Required

1000 MW

Quantum offered

200 MW

Bid Date

5th Feb 2016

Fuel

Imported Coal

Power Sale

From Phase I

Term of the PSA

12 years

Other terms

As per the DBFOO guidelines

Status

MEPL has participated for 200 MW of power sale

from its Phase I Unit quoting a tariff of INR 4.543
per kWh as on the Bid Date.

Health Check Scorecard - 2015

Health Check Scorecard for 2015 is recently completed and same is circulated to
Group for further reporting.
Details of 2015 Scorecard result comparison with 2014 is as follows:
Topic

11

2015

2014

1. Governance

3.0

2.0

2. Ethics and Fraud

2.8

1.3

3. Policies and procedures

2.6

1.1

4. Reliability of financial reporting

3.0

1.3

5. Strategy and monitoring

2.5

1.0

6. Risk, internal control and internal

audit

2.7

1.7

7. People and organisation

2.7

1.0

8. Health & Safety, Environment and

Crisis Management

2.0

1.0

9. Legal, Tax and Insurance risks

2.4

1.4

10. IS Security and IS Governance

1.7

1.0

Health Check Scorecard - 2015

Key Improvement areas during the year:

o
o
o
o
o

Proper Governance process is in place for review of financial, budget &

operational performance on quarterly basis
Valid DoA in place and same is communicated to all the stakeholders
Defined Role and Responsibilities and mostly matching the SOD compliance
requirements
Ethics policy is in place and provided the ethics booklet to everyone
HO level most of the policies are in place and site level same will be done in
due course

Ongoing / Planned Improvement areas:

o
o
o
o

12

Requirement of better ERP system Still to launch

IT Backup and DRP plan implementation Ongoing
Implementation of Risk Management framework - Ongoing
H&S and Environmental improvement - Ongoing

CORPORATE SOCIAL RESPONSIBILITY

13

Phase I Credit Rating

MEPL loans were upgraded on 8th May 2015 from BBB- to A-

Since end of Dec/13 rating of MEPL has evolved 13 notches, from D to A- over 18 months

14

GDF SUEZ is NOW ENGIE

THANK YOU

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