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Table of Contents
2|Page
Declaration
3|Page
ACKNOWLEDGEMENT
Above all we have no words to express my gratitude to the almighty GOD who
blessed us the wisdom and enlightened us to complete this project.
Last but not the least, I specially wish all my friends a vote of thanks as without
their valuable supports this report would have not been possible.
4|Page
GROUP COMPANIES
The Punj Lloyd Group comprising Punj Lloyd, Sembawang Engineers and Constructors,
and Simon Carves has international offices spanning five continents. With its strong
presence across the Middle East, the Caspian, the Asia Pacific, Africa, South Asia, China and
Europe, the Group is on track to attain its vision of being amongst the top five EPC
companies in its segments and markets by 2012.
With international offices spanning five continents, the Group has a strong presence across
the Middle East, the Caspian, the Asia Pacific, Africa, South Asia, China and Europe. The
Group comprises Punj Lloyd, headquartered in India, Semarang Engineers and Constructors
in Singapore, and Simon Carves in the United Kingdom.
Punj Lloyd Group is a diversified global conglomerate providing Engineering & Construction
services in Oil & Gas, Infrastructure and Petrochemicals, and with interests in Defence,
Aviation, Marine and Upstream sectors.
With a turnover of US $2.5 billion, the Group’s three brands - Punj Lloyd headquartered in
India, Sembawang Engineers & Constructors in Singapore, and Simon Carves in the
United Kingdom, each with its own subsidiaries and joint ventures, converge to offer
complementary services, rich experiences and the best practices from across the globe. 16
international offices and entities across the Middle East, the Caspian, Asia Pacific, Africa,
5|Page
South Asia, China and Europe, have established Punj Lloyd as a proven and reputable
Group.
Having built projects across the world, the Group continues to provide integrated design,
engineering, procurement, construction and project management services for the energy,
infrastructure and petrochemical sectors. From pipelines, tanks and terminals to refineries,
power plants to renewable, airports, rail transit systems to expressways, the Group can
offer EPC solutions across a wide spectrum of businesses.
A dynamic enterprise, the Group explores and pursues the enormous opportunity in
markets globally. Partnering with the best in their own arenas, Punj Lloyd brings
technology and quality to clients worldwide and reiterates its belief of delivering the best,
in services and manufacturing. An excellent track record for successful completion of
projects within tight schedules, lends credibility to the Group, encouraging clients to trust
it with repeat orders.
The skilled multicultural workforce has the experience of working in different geographies
and diverse terrain, empowering the Group to aggressively pursue its vigorous plans.
The Group’s key strengths are its varied experience, rich knowledge of local conditions,
high standards of health, safety, quality and environment, accolades and recognitions from
industry bodies and clients, its ability to manage operations in diverse industries and
economies, long-term relationships with world-class clients and ability to mobilise
financial resources. The huge fleet of equipment Punj Lloyd owns gives the company an
edge over its competitors.
6|Page
Operation:
OPERATIONS:
7|Page
BOARD OF DIRECTORS
Name Status
COMMITTEES
Name Status
Audit Committee
Dr Naresh Kumar Independent Director, Chairman of the
Trehan Committee
Mr Rajan Jetley Independent Director
Mr Sanjay
Independent Director
Gopal Bhatnagar
Mr Niten Malhan Non Executive Director
Investors Grievance Committee
Dr Naresh Kumar Independent Director, Chairman of
Trehan Committee
Mr Atul Punj Executive Director
Mr L Chhabra Executive Director
Remuneration Committee
Dr Naresh Kumar
Independent Director
Trehan
Mr Rajan Jetley Independent Director
Mr Sanjay Gopal
Independent Director
Bhatnagar
Mr Niten Malhan Non Executive Director
8|Page
Share holding
pattern as on : 31/12/2009 30/09/2009 30/06/2009
Face value 2.00 2.00 2.00
Promoter's holding
Institutional investors
Other investors
Private Corporate
Bodies 24318298 7.32 19351915 5.83 20017573 6.60
NRI's/OCB's/Foreign
Others 4665848 1.41 4551811 1.37 11690770 3.85
Others 1327188 0.40 1389510 0.42 1613306 0.53
Sub total 30311334 9.13 25293236 7.62 33321537 10.98
General public 46361335 13.96 42063060 12.68 44201570 14.56
9|Page
HOLDING PATTERN
37.39%
Promoter's holding
62.61%
Non promoter's holding
Promoter's holding
14.17%
Indian Promoters
23.23%
Foreign Promoters
Foreign Promoters
NRI's/OCB's/Foreign Others
10 | P a g e
Income
Operating income 1,429.43 1,368.21 2,238.85 4,511.10 6,919.87
Expenses
Material consumed 373.11 448.77 587.85 1,625.36 2,381.76
Manufacturing
expenses 430.59 395.56 702.48 1,504.38 2,390.15
Personnel expenses 172.36 138.63 236.56 358.53 574.59
Selling expenses 46.05 37.05 65.27 - -
Administrative
expenses 144.48 138.61 319.52 485.87 800.58
Expenses capitalised - - - - -
Cost of sales 1,166.59 1,158.61 1,911.68 3,974.14 6,147.08
Operating profit 262.84 209.61 327.17 536.96 772.79
Other recurring
income 32.92 11.10 27.54 30.66 35.75
Adjusted PBDIT 295.76 220.71 354.71 567.62 808.54
Financial expenses 221.74 125.99 208.26 113.28 194.28
Depreciation 56.80 44.21 84.46 113.39 119.48
Other write offs 19.59 14.98 2.57 - -
Adjusted PBT -2.37 35.52 59.42 340.95 494.78
Tax charges 3.35 17.69 35.75 119.51 173.68
Adjusted PAT -5.72 17.83 23.68 221.44 321.10
Nonrecurring items 5.58 11.52 32.92 - -
Other non cash
adjustments 8.29 5.80 4.99 - -
Reported net profit 8.14 35.15 61.58 221.44 321.10
Earnings before
appropriation 156.07 196.97 251.06 458.08 745.08
Equity dividend 1.82 5.22 7.84 12.14 9.10
Preference dividend - - - - -
Dividend tax 0.26 0.73 1.33 2.06 1.55
Retained earnings 153.99 191.01 241.89 443.88 734.43
11 | P a g e
300
250
200
Reported net profit in
150
CRORES
100
50
0
2004 2005 2006 2007 2008 2009 2010
300
250
200
50
0
2004 2005 2006 2007 2008 2009 2010
12 | P a g e
Dividends in rupees
0.45
0.4
0.35
0.3
0.25
0.2 Dividends in rupees
0.15
0.1
0.05
0
2005 2006 2007 2008 2009 2010
-20
-30
13 | P a g e
X=Return on S&P CNX nifty for past 2 years from 1 march 2008 to 1 march 2010
Y=Return on PUNJ Lloyd for past 2 year from 1 march 2008 to 1 march 2010
ƩX=13.03623865
Ʃy=-22.26180524
ƩXY=3904.880224
ƩX^2=2750.604
N=483
β= (n*ƩXY-ƩXƩY)/ (n*ƩX2-(ƩX) 2)
=1.4200448
From above calculations we came to know that
β=1.4200448, which implies there is a high risk
associated the PUNJ Lloyd stock
14 | P a g e
Bibliography
http://money.rediff.com/companies/punj-lloyd-ltd/13520182/dividends
http://money.rediff.com/companies/punj-lloyd-ltd/13520182/cash-flow
http://money.rediff.com/companies/punj-lloyd-ltd/13520182/profit-and-loss
http://money.rediff.com/companies/punj-lloyd-ltd/13520182/shareholding pattern
http://money.rediff.com/companies/punj-lloyd-ltd/13520182
http://www.nseindia.com/content/equities/scripvol/datafiles/01-03-2008-TO-01-03-
2010PUNJLLOYDALLN.csv
15 | P a g e
EXCEL sheets
17 | P a g e
08 1.445451881
27-May- 4859.8 317.3 - -0.967540574 0.302663434 0.097855
08 0.312817304
28-May- 4918.35 317.45 1.20478209 0.047273873 0.056954716 1.4515
08
29-May- 4835.3 310.35 -1.68857442 -2.236572689 3.776619431 2.851284
08
30-May- 4870.1 320.6 0.719707154 3.302722732 2.376993177 0.517978
08
2-Jun-08 4739.6 287.45 - -10.33998752 27.70720051 7.180344
2.679616435
3-Jun-08 4715.9 280.9 - -2.278657158 1.139424733 0.250042
0.500042198
4-Jun-08 4585.6 277.9 - -1.067995728 2.950865018 7.634132
2.762993278
5-Jun-08 4676.95 278.9 1.992105722 0.35984167 0.716842649 3.968485
6-Jun-08 4627.8 273.05 - -2.097525995 2.204287039 1.104388
1.050898556
9-Jun-08 4500.95 259.3 -2.74104326 -5.035707746 13.80309278 7.513318
10-Jun-08 4449.8 245.15 - -5.456999614 6.20148036 1.291466
1.136426754
11-Jun-08 4523.6 254.45 1.658501506 3.793595758 6.291684276 2.750627
12-Jun-08 4539.35 259.65 0.348174021 2.043623502 0.711536611 0.121225
13-Jun-08 4517.1 267.05 - 2.849990372 - 0.240255
0.490158283 1.396946386
16-Jun-08 4572.5 266.8 1.226450599 -0.093615428 - 1.504181
0.114814698
17-Jun-08 4653 276.1 1.760524877 3.485757121 6.136762127 3.099448
18-Jun-08 4582.4 267.4 - -3.151032235 4.781063309 2.302201
1.517300666
19-Jun-08 4504.25 252.7 - -5.497382199 9.375445593 2.908519
1.705438198
20-Jun-08 4347.55 242.2 -3.47893656 -4.155124654 14.45541507 12.103
23-Jun-08 4266.4 225.9 - -6.729975227 12.56195995 3.484078
1.866568527
24-Jun-08 4191.1 224.15 -1.76495406 -0.774679062 1.367272955 3.115063
25-Jun-08 4252.65 238.75 1.468588199 6.513495427 9.565642517 2.156751
26-Jun-08 4315.85 234.05 1.486132176 -1.968586387 - 2.208589
2.925579572
27-Jun-08 4136.65 222.35 - -4.998931852 20.75624936 17.24024
4.152136891
30-Jun-08 4040.55 212.9 - -4.250056218 9.873458052 5.39696
2.323135871
1-Jul-08 3896.75 197.6 - -7.186472522 25.57609109 12.66592
3.558921434
2-Jul-08 4093.35 216.45 5.045229999 9.539473684 48.12883881 25.45435
3-Jul-08 3925.75 199.65 -4.09444587 -7.761607762 31.77948284 16.76449
4-Jul-08 4016 227.85 2.298923773 14.12471826 32.47165058 5.285051
7-Jul-08 4030 230.35 0.348605578 1.097213079 0.382494599 0.121526
18 | P a g e
19 | P a g e
21 | P a g e
1.115972246
13-Feb-09 2948.35 94.35 1.911477506 -0.94488189 - 3.653746
1.806120479
16-Feb-09 2848.5 91.7 - -2.808691044 9.512025395 11.46933
3.386639985
17-Feb-09 2770.5 87.7 - -4.362050164 11.94452915 7.498195
2.738283307
18-Feb-09 2776.15 86.55 0.203934308 -1.311288483 - 0.041589
0.267416709
19-Feb-09 2789.35 86.3 0.47547863 -0.288850376 - 0.22608
0.137342181
20-Feb-09 2736.45 84.4 - -2.201622248 4.175374798 3.596709
1.896499184
24-Feb-09 2733.9 84.15 - -0.296208531 0.027602615 0.008684
0.093186428
25-Feb-09 2762.5 82.7 1.046124584 -1.723113488 - 1.094377
1.802591381
26-Feb-09 2785.65 82.95 0.83800905 0.302297461 0.253328008 0.702259
27-Feb-09 2763.65 79.15 - -4.581072936 3.617956476 0.623724
0.789761815
2-Mar-09 2674.6 72.05 - -8.970309539 28.90402419 10.3825
3.222188048
3-Mar-09 2622.4 70.1 - -2.706453851 5.282168962 3.809108
1.951693711
4-Mar-09 2645.2 72.55 0.869432581 3.495007133 3.038673071 0.755913
5-Mar-09 2576.7 70.25 -2.58959625 -3.170227429 8.209609062 6.706009
6-Mar-09 2620.15 70.15 1.686265378 -0.142348754 - 2.843491
0.240037776
9-Mar-09 2573.15 69.2 - -1.354240912 2.429224391 3.217684
1.793790432
12-Mar- 2617.45 70.3 1.721625245 1.589595376 2.736687529 2.963993
09
13-Mar- 2719.25 73.65 3.889281553 4.765291607 18.53356074 15.12651
09
16-Mar- 2777.25 77.05 2.132941068 4.616429056 9.846571123 4.549438
09
17-Mar- 2757.45 75.4 - -2.14146658 1.526727457 0.508277
09 0.712935458
18-Mar- 2794.7 77.3 1.350885782 2.519893899 3.404088841 1.824892
09
19-Mar- 2807.15 78.5 0.445486099 1.552393273 0.691569623 0.198458
09
20-Mar- 2807.05 80.65 - 2.738853503 - 1.27E-05
09 0.003562332 0.009756705
23-Mar- 2939.9 83.9 4.732726528 4.029758215 19.0717436 22.3987
09
24-Mar- 2938.7 80.05 - -4.588796186 0.187304174 0.001666
09 0.040817715
25-Mar- 2984.35 81.6 1.55340797 1.936289819 3.007848036 2.413076
09
24 | P a g e
26 | P a g e
27 | P a g e
28 | P a g e
30 | P a g e
31 | P a g e
N 483
β 1.4200448
32 | P a g e