Jaiprakash Associates Ltd
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BSE Code:
532532
NSE Code:
JPASSOCIAT
Business Profile
Business Profile
Jaiprakash Associates (JAIPRA), earlier known as Jaiprakash Industries (JIL) merged with Jaypee Cement (JCL) and got its current name.
JAIPRA is an acknowledged leader in the construction of river valley and hydro power projects on turnkey basis and has been in business for more than three decades. It is the flagship company of the Jaypee group, which is a well diversified infrastructural industrial group of India with a turnover of over Rs 30,000 million (USD 650 million) that commenced its operations in 1972 as a partnership firm, then known as Jaiprakash Associates. Three decades later, the group has diversified itself into many sectors.
The company has executed simultaneously 13 hydro power projects spread over six states and the neighboring country of Bhutan for the generation of 10,290 MW of power. It has set up a 300 MW power station in Baspa, Himachal Pradesh, which is already in operation producing more than 1,200 million units of clean & green energy annually. It has also set up the 400 MW Vishnuprayag power project in Uttaranchal. The cement division of the company produces ordinary Portland cement and Pozzolana Portland cement under the brand names Buland and Buniyad.
It has three modern cement plants; namely Jaypee Rewa Cement Plant, Jaypee Bela with an aggregate capacity of 7 MTPA. Some of the other subsidiaries are Jaiprakash Hydro-power, Jaiprakash Ventures and Jaiprakash Hotels.
Financials
Jaiprakash Associates posted a phenomenal rise during the quarter ended March 2009. The company posted a net profit of 83.13% to Rs 3,853.20 million for the quarter ended Mar. 31, 2009 as compared to Rs 2,104.10 million for the quarter ended Mar. 31, 2008. Total income has increased by 63.13% to Rs 21,945.70 million for the quarter ended Mar. 31, 2009 from Rs 13,452.80 million for the quarter ended Mar. 31, 2008. It posted earnings of Rs 3.01 a share during the quarter, registering 3.01 times growth over prior year period. During the quarter, it reported earnings of Rs 3.27 a share.
Recent Developments
25-FEB-09
The company received Letter of Intent from Sangam Power Generation Company (A Subsidiary of U P Power Corporation) for setting up of 2 x 660 MW Super Critical Technology - Karchhana Thermal Power Project at Allahabad, with approved coal linkeage.
22-DEC-08
The boards of directors of the company approved the amalgamation of Jaypee Cement (JCL), Gujarat Anjan Cement (GACL), Jaypee Hotels (JHL) and Jaiprakash Enterprises (JEL), with Jaiprakash Associates with effect from Apr. 01, 2008.
14-DEC-07
Jaiprakash Associates (JP Associates) announced on Friday that the board of directors today approved raising funds upto USD 400 million by issue of global depository receipts (GDRs), in terms of the shareholders` approval already accorded in the annual general meeting held on Aug. 30, 2007
03-AUG-07
Jaiprakash Associates completed the transaction with respect to taking over plant, land and assets of Malvika Steel on July 31, 2007 through a bid of Rs.2,070 million. The integrated steel plant would become operational in two phases spanning over 15 to 36 months in Jagdishpur.
25-JUL-07
It has tied up with Gujarat Mining Development Corporation to build a 2.4 million tons a year factory at an investment of Rs 8.5 billion. Jaiprakash Associates will own 74% in the joint venture.
17-JUL-07
On July 14, 2007, the board of directors decided to raise an amount of upto USD 1 billion in two or more tranches out of which USD 400 million (including green-shoe option) was decided to be raised through issue of FCCBs.