Ennore Port Limited [EPL] Tax Free Bond Feb 2014 Tax Free Interest up to 9 % , Pre Tax Rate 13.02%

Company Profile

• EPL is a Government of India undertaking with Mini Ratna Category I status. As on December 31, 2013, the President of India acting through the Ministry of Shipping and the Board of Trustees, Chennai Port Trust hold 66.67% and 33.33%, respectively, of the paid-up equity share capital of the Company.
• EPL, incorporated as a company in October 1999 under the Companies Act, 1956, is the first corporatized major port in the country and 12th major port in India.
• EPL was originally conceived as a satellite port to Chennai Port, primarily to handle thermal coal to meet the requirement of Tamil Nadu Electricity Board now known as Tamil Nadu Generation and Distribution Corporation Limited. The scope of the Port was expanded taking into account subsequent developments plans of the Government of Tamil Nadu to set up Liquefied Natural Gas (“LNG”), petrochem and naphtha cracker power projects.
• EPL functions on the “Landlord Port Model” basis whereby the port constitutes a landlord, which manages the basic port assets by leasing land and basic infrastructure to port operators.
• Operating revenue for the fiscal years ended March 31, 2013, 2012 and 2011 was Rs 320.21 crores, Rs 248.64 crore and Rs 167.31 crore respectively and for the six month period ended September 30, 2013 was Rs 228.24 crore
• Profit after tax for the year ended March 31, 2013, 2012 and 2011 was Rs 173.37 crore, Rs 96.72 crore and Rs 55.58 crore respectivelyand for the six month period ended September 30, 2013 was Rs 147.14 crore.

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