Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Tuesday, December 24, 2013

Essar Port Ltd: Breaking out of its current trends
Essar Ports Limited (EPL) develops and operates ports and terminals and is one of the largest private sector port companies in India by capacity and throughput. 
Essar Ports is part of the multinational Essar Group, and holds the Group's entire ports business. Essar Ports develops and operates ports and terminals for handling liquid, dry bulk, break bulk and general cargo, with an existing aggregate capacity of 104 MTPA across two facilities located at Vadinar and Hazira in the state of Gujarat on the west coast of India and one iron ore terminal at Paradip in the state of Orissa on the east coast of India.
The facilities at Vadinar and Hazira are used primarily by affiliated customers for the receipt of raw materials such as crude oil, iron ore / pellets, limestone, dolomite and coal, and for the despatch of finished goods such as petroleum products and steel products.

  • H1 FY14 Net Profit up 33% to Rs 198.90 Cr
  • Q2 FY14 Net profit up 21% at Rs 97.5 cr
  • H1 FY14 Earnings per Share at Rs 4.65 

Highlights of consolidated results:
1. Net Profit for Q2 FY14 increased by 21% to Rs. 97.5 crore from Rs.80.5 crore in Q2 FY13. For H1 FY14, the Net Profit increased by 33% to Rs.198.9 crore from       Rs 149.1 crore in H1 FY13.
2. Earnings Per Share as at H1 FY14 were at Rs 4.65 as against Rs 3.53 for H1 FY13.
3. Revenue for Q2 FY14 excluding trade revenues to fulfill export obligations increased by 14% to Rs 398.1 crore from Rs 348.3 crore in Q2 FY13. For H1 FY14, the Revenue excluding trade revenues to fulfill export obligations increased by 18% to Rs 801.8 crore from Rs 677.8 crore in H1 FY13.
4. EBITDA for Q2 FY14 increased by 13% to Rs 324.2 crore from Rs 287.1 crore in Q2 FY13. For H1 FY14, EBITDA increased by 17% to Rs 652.1 crore from Rs 558.4 crore in H1 FY13.
5. 13.01 million tonnes of cargo handled during Q2 FY14 as against 12.70 million tonnes of cargo handled during Q2  FY13.

Speaking on the key highlights for the quarter, Mr. Rajiv Agarwal, Managing Director, Essar Ports Ltd. said: "Our performance is consistent with the growth targets we have set for ourselves and we are confident of delivering good performance in the coming quarters. We will further strengthen our performance once we execute the projects in hand and third party terminals at Paradip and Vizag."

Eventful First Half:
  • Company achieved 25% minimum public shareholding requirements of SEBI by successfully completing dilution through Offer for Sale.
  • Won the bid for 23 MMTPA Iron Ore terminal at Vizag. Project will significantly enhance third party mix of the Company and gives strategic presence on the east coast after Paradip.
  • The Company declared dividend of 5% for FY 2012-13.
  • Salaya Jetty construction completed.

Operations on track:
  • 13.01 million tonnes of cargo handled during Q2 FY14 as against 12.70 million tonnes of cargo handled during Q2 FY13..
  • 27.08 million tonnes of cargo handled during H1 FY14 as against 25.36 million tonnes of cargo handled during H1 FY13.
  • Company has earned trade revenues and incurred purchase expenses of Rs 301.92 cr each during the quarter on account of fulfilling export obligations under EPCG.
  • Vadinar terminal completed 2500 Loss Time Injury free days during the quarter and also completed over 1 million accident free man hours reflecting the QHSE of the terminal operations.
  • Vadinar terminal won the safety Award in Lloyds List Middle East and Indian Subcontinent Awards 2013.
  • Hazira expansion project obtained Consent to Establish (CTE) from GPCB for the Expansion Project.
  • Hazira Terminal received Gold Award in the Greentech Safety Awards 2013.

About Essar Ports (in brief):
Essar Ports Ltd is one of the largest port companies of India, with a current capacity of 104 MMTPA. The capacity is being expanded to 181 MMTPA over the next few years.

Essar Ports has three operational terminals at Hazira, Vadinar and Paradip. The Hazira port is an all-weather, deep-draft port with 30 MMTPA of dry bulk and break bulk cargo handling capacity. Vadinar is also an all-weather, deep-draft port with 58 MMTPA of liquid cargo handling capacity. Paradip dry bulk terminal was commissioned in December 2012 and is an all-weather, deep-draft port with 16 MMTPA of dry bulk cargo handling capacity.

Essar Ports is currently developing one terminal at Paradip, which will be a coal berth of 14 MMTPA. The company is also setting up a dry bulk terminal at Salaya with a capacity of 20 MMTPA. Additionally, the company plans to expand its Hazira port capacity by 20 MMTPA – taking its capacity to 50 MMTPA. Essar Ports has won the bid for the development of three iron ore berths totaling 23 MMTPA at Visakhapatnam port.