COMPANY OVERVIEW
Premier Energy and Infrastructure Limited (PEIL) is focused on the construction, housing development and energy sector. PEIL undertook estate development projects with business focus on residential and commercial developments.
PEIL further has expanded to the sector of developing infrastructural facilities in the Power generation.
INDUSTRY OVERVIEW
The Global environment continued to remain challenging by weak trade and minimal investments. The economy is expected to gradually improve through a re-balancing amidst supportive government policies and fiscal stimulus.
SWOT ANALYSIS Strengths
PEIL, is also a developer of renewable energy power plants in India based on aggregate installed capacity.
Operates in the rapidly growing renewable energy sector, which benefits from increasing demand for electricity and regulatory support.
Experienced management and operating team with relevant industry knowledge and expertise.
Weakness
Revenues from our business of renewable power generation are exposed to market based electricity prices.
We are also susceptible to any delay in execution or escalation in cost by sub-contractors executing our projects and these delays or cost escalations may make new energy projects too expensive to complete or unprofitable to operate.
Development activities and operations through third party developers, over which we may not have full control.
The SEBs that we deal with may face challenges on financial viability and hence may delay or defer payments.
Opportunities
The gap between demand and supply for power in the country presents a large and lucrative business opportunity that is expected to sustain for a number of years
There is large amount of interest in renewable energy generation and the benefits lead to premium pricing.
Threats
We face constraints to expand our renewable energy business due to unavailability of suitable operating sites, which are in limited supply.
Our business is governed by a tight regulatory mechanism across various regions that we operate and any negative impact due to change in regulations could affect the viability of the business.
RISKS AND CONCERNS
Industry Risks - Housing Sector
Due to increased demand for land for development of residential and commercial properties, we are experiencing increasing competition in acquiring land in various geographies where we operate or propose to operate. In addition, the unavailability or shortage of suitable parcels of land for development leads to an escalation in land prices. Any such escalation in the price of developable land could materially and adversely affect our business, prospects, financial condition and results of operations. Additionally, the availability of land, its use and development, is subject to regulations by various local authorities. For example, if a specific parcel of land has been delineated as agricultural land, no commercial or residential development is permitted without the prior approval of the local authorities
Industry Risks - Renewable Power Generation Sector
The company is exposed to typical industry risk factors including competition, regulatory environment and liquidity risks. The company tries to manage these risks by maintaining conservative financial policies and by adopting prudent risk management practices.
Regulatory environment risk - Housing Sector
The present Government of India has announced its general intention to continue Indias current economic and financial sector liberalization and deregulation policies. However, there can be no assurance that such policies will be continued and a significant change in the Government of Indias policies in the future could affect business and economic conditions in India and could also adversely affect our business, prospects, financial condition and results of operations.
Regulatory environment risk - Renewable Power Generation Sector
The Company is in a business which is dependent in a major way on regulatory policies as well as pricing. Any adverse change in the regulatory policy framework could impact the companys operations and financial results.
Besides the above risks, the Company has perceived risks arising from delay in execution of projects and delivery of products and services and these could arise due to external factors like lack of infrastructure and non availability of finance and resources at reasonable costs.
INTERNAL CONTROLS AND THEIR ADEQUACY
The company has adequate internal control systems commensurate within its size and nature of business. The Management has overall responsibility for the Companys internal control system to safeguard the assets, usage of resources, compliance with applicable laws & regulations and to ensure reliability of financial records.
MANAGEMENTS RESPONSIBILITY STATEMENT
The management is responsible for preparing the companys consolidated financial statements and related information that appears in this annual report. It believes that these financial statements fairly reflect the form and substance of transactions, and reasonably represent the companys financial condition and results of operations in conformity with Indian Generally Accepted Accounting Principles.
FINANCIAL PERFORMANCES WITH RESPECT TO OPERATIONS
Income from Operations: Consolidated revenue for the year ended 31st March 2023 was Rs 1429.95 lakhs as against Rs. 40.00 lakhs in the previous year.
Rs. In lakhs | ||
Consolidated |
2022-23 | 2021-22 |
Revenue |
1429.95 | 40.00 |
Cost of Materials consumed |
597.93 | - |
Employee benefit Expenses |
36.98 | 34.15 |
Other Expenses |
167.24 | 457.72 |
Finance Cost |
4.74 | 188.85 |
Depreciation |
- | 0.02 |
Extraordinary items |
- | |
Other Comprehensive Income |
0.09 | 0.07 |
Tax |
- | (49.90) |
Net Profit for the year |
623.15 | (590.77) |
NETWORTH: The Consolidated Net worth of the company as on 31st March 2023 is Rs. 3727.65 Lakhs as against Rs. 3104.49 lakhs in the previous year.
HUMAN RESOURCES
Our Human resources are a very valuable asset for our Company and employee involvement is encouraged and harnessed towards attainment of the Companys goals. A good pool of human resources is the biggest competitive advantage of PEIL.
The company is planning to employ senior professionals to add to the human capital which is the main contributor for the growth of business.
KEY FINANCIAL RATIOS:
Key Financial Ratios are given in the Notes to the Accounts for the year.
Annual Report 2022-2023
Annexure -2
AOC -1
(Pursuant to first proviso to subsection (3) of Section 120 read with rule 5 of the Companies (Accounts) Rules, 2014
Statement containing saient features of the Financial statement of Subsidiaries / Associaate Companies / Joint Ventures
Part “A”: Subsidiaries
(information in respect of each subsidiary to be presented with amounts in Rs.)
RCI Power Ltd | RCI Power (AP) Ltd | RCI Power 30 MW Pvt Ltd | RCI Power 50 MW Pvt Ltd | |
Reporting Period of the Subsidiary |
31.03.23 | 31.03.23 | 31.03.23 | 31.03.23 |
% of Shareholding |
100% | 100% | 100% | 100% |
Reporting currency and Exchange rate as on the last date of relavent Financial Year in the case of foreign subsidiaries |
Not a Foreign Subsidiary | Not a Foreign Subsidiary | Not a Foreign Subsidiary | Not a Foreign Subsidiary |
Share Capital |
150,000,000 | 500,000 | 100,000 | 100,000 |
Reserves & Surplus |
506,405,313 | 84,990,953 | (538,397) | (526,529) |
Other Liabilities |
132,765,528 | 5,436,203 | 453,426 | (426,529) |
Total Equity and Liabilities |
789,170,841 | 90,927,156 | 15,029 | - |
Total Assets |
789,170,841 | 90,927,156 | 15,029 | - |
For the Year ended 31st March 2023 |
- | - | - | - |
Turnover |
- | - | - | - |
Profit / (Loss) Before Taxation |
(3,181,714) | (207,138) | (48,468) | (37,597) |
Provision for Taxation |
- | - | - | - |
Profit / (Loss after Taxation |
(3,181,714) | (207,138) | (48,468) | (37,597) |
Proposed Dividend |
Nil | Nil | Nil | Nil |
PREMIER ENERGY AND INFRASTRUCTURE LIMITED
Part “B” Associates and Joint Ventures Statement pursuant to Section 129(3) of The Companies Act, 2013 related to Associate Companies and Joint Ventures
Name of Associates / Joint Ventures |
NIL |
Latest audited Balance sheet Date |
NA |
Date on which associatee or Joint Venute was associated or acquired |
NA |
Shares of Associate / Joint Venture was associated or acquired |
NA |
No of shares |
NA |
Extent of Holding % |
NA |
Description of how there is significant influence |
NA |
Reason why the associate / joint venture is not consolidated |
NA |
Net worth attributable to shareholding as per latesst audited Balance Sheet |
NA |
Profit . Loss for the year |
NA |
- considered in consolidation |
NA |
- Not considered in consolidation |
NA |
1. Names of associates or joint ventures which are yet co commence operations.
2. Names of associates or joint ventures which have been liquidated or sold during the year.
Note: This Form is to be certified in the same manner in which the Balance Sheet is to be certified.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.