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KSK Energy Ventures Limited
Sector:Engineering Engineering - Engineering Consultancy/Turnkey Services
BSE:532997NSE:KSKBloomberg:KSK@INReuters:KSKE.BO
Market Lot: 1Face Value: 10ISIN Demat: INE143H01015
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10-Jun-2014
Business Profile
KSK Energy Ventures is a power project development company experienced in developing and operating power plants. It was incorporated as a private limited company on Feb. 14, 2001 and became a public company on Feb. 06, 2008. The company is a subsidiary of KSK Energy (Mauritius) and a step-down subsidiary of KSK Power Ventur plc (Isle of Man). It is part of the group of companies in India under KSK Energy (Mauritius), which include KSK Energy Co. and its subsidiaries RVK Energy, Kasargod Power Corporation, KSK Energy Resources, KSK Natural Resource Ventures, Marudhar Mining, KSK Surya Photovoltaic Venture, and KSK Investment Advisor.

The company focuses on developing, operating and maintaining power projects and supplies power to a combination of industrial and state-owned consumers in India. It has operational power plants at Arasmeta, a 43 MW coal-based power plant in Chhattisgarh; Sai Regency, a 58 MW natural gas-based power plant in Tamil Nadu; and Sitapuram, a 43 MW coal-based power plant in Andhra Pradesh. Power projects under construction include VS Lignite, a 135 MW lignite-based power project in Rajasthan which is scheduled to be commissioned in October 2008; and Wardha, a 540 MW coal-based power project in Maharashtra, which is scheduled to be commissioned in December 2009.

Power Projects under development include Arasmeta Expansion, a 43 MW expansion of the existing Arasmeta power plant expected to be commissioned in first quarter of Fiscal 2011; Wardha Chhattisgarh, a 1,800 MW coal-based power project in Chhattisgarh expected to be commissioned in the second quarter of fiscal 2012; and KSK Dibbin, a 130 MW, a run-of-the-river hydro-electric power project in Arunachal Pradesh expected to be commissioned in the fourth quarter of fiscal 2011.

KSK Narmada, a 1,800 MW coal-based power project in Chhattisgarh, expected to be commissioned in the second quarter of the fiscal year 2013; JR Power, a 1,800 MW coal-based power project in Orissa, expected to be commissioned in the fourth quarter of the fiscal year 2012; Wardha Naini, a 1,800 MW coal based power project in Orissa, expected to be commissioned in the first quarter of the fiscal year 2013; Kameng Dam, a 600 MW run-of-the-river hydro-electric power project in Arunachal Pradesh, expected to be commissioned in the fourth quarter of the fiscal year 2012; and Kameng Basin projects, a group of seven run-of-the-river hydro-electric power stations aggregating 345 MW in Arunachal Pradesh, expected to be commissioned in the second quarter of the fiscal year 2013 are among the planned projects.

Subsidiary companies include KSK Dibbin Hydro Power, Kameng Dam Hydro Power, JR Power Gen, KSK Narmada Power Co., Kameng Basin Projects, Bahur Power Company, KSK Technology Ventures, Sai Maithali Power Company, Lakhpat Power Company, and KSK Electricity Financing India which in turn has Arasmeta Captive Power Co., Sai Regency Power Corporation, Sitapuram Power, VS Lignite Power, and Wardha Power Company as its subsidiaries.

The registered office is located at 8-2-293/82/A/431/A, Road No.22, Jubilee Hills, Hyderabad - 500 033, Andhra Pradesh.


Financials
The company disclosed fall of 255.61% in standalone net profit on y-o-y basis to Rs 1,036.40 million, while total income increased 14.04% y-o-y basis to Rs 6.17 billion for the quarter ended March 2014.

Recent Developments
10-JUN-14
KSK Energy Ventures announced that in respect of issue of equity shares of face value Rs 10 each the board of directors of the company has allotted 40,404,040 equity shares of face value Rs 10 each at a price of Rs 99 per equity share (including share premium of Rs. 89 per Equity Share) aggregating to Rs 4 billion.

26-MAY-14
During the quarter, the company reported a loss of Rs 1,036.40 million compared with a profit of Rs 666.01 million in the same quarter last year.

29-MAY-13
KSK Energy Ventures reported a sharp rise in consolidated net profit for the quarter ended March 2013. During the quarter, the profit of the company rose 75.07% to Rs 576.64 million from Rs 329.37 million in the same quarter last year.

30-JAN-12
KSK Energy Ventures has posted consolidated net profit after tax and minority interest of Rs 827.29 million for the quarter ended December 31, 2011 as compared to Rs 132.92 million for the quarter ended December 31, 2010, representing an increase of 6.22 times.

04-JUL-11
KSK Energy Ventures has approved the sale of 26 windmill assets of the company aggregating to 31.80 MW situated in the state of Tamil Nadu to KSK Wind Energy, a subsidiary of the company.

05-JAN-11
KSK Energy Ventures announced the light up of the boiler and completion of steam blowing with respect to the third unit (135 MW) of the 540 MW Wardha Warora Project (4 X 135 MW).

27-SEP-10
KSK Energy Ventures (KSKEV) announced that it is in the process of setting up the 540 MW Wardha Warora Power Plant, comprising of 4 units of 135 MW each at Warora, Maharashtra.

20-SEP-10
KSK Energy Ventures announced that it has tied up and has secured the total capital outlay for the project, which is estimated



Future Plans
The company intends using the proceeds from its initial public offering for the following:
- Investment in Wardha Power Company, a subsidiary, to finance the equity component of the 1,800 MW coal-based thermal power plant at Wardha Chhattisgarh.
- Investment in KSK Dibbin Hydro Power, a subsidiary, to finance the equity component of the 130 MW run-of-the-river hydro power plant at Dibbin, Arunachal Pradesh.
- Repayment of corporate loans.
- General corporate purposes.


In Brief

 
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