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  • Srei Infrastructure Finance Limited A n n u a l R e p o r t 2 0 1 2 - 1 3

    Principles People Performance

  • Board of Directors Mr. Salil K. Gupta Chief Mentor

    Mr. Hemant Kanoria Chairman & Managing Director

    Mr. Sunil Kanoria Vice Chairman

    Mr. Saud Ibne Siddique Mr. S. Rajagopal Mr. Shyamalendu Chatterjee Dr. Satish C. Jha Mr. Sujitendra Krishna Deb Dr. Martin Czurda Dr. Punita Kumar Sinha

    Mr. Anil Agrawal

    Company Secretary Mr. Sandeep Lakhotia

    Auditors Messrs Haribhakti & Co. Chartered Accountants

    Principal Banker

    Audit Committee Mr. Salil K. Gupta - Chairman

    Mr. Sunil Kanoria Mr. S. Rajagopal Mr. Sujitendra Krishna Deb Mr. Shyamalendu Chatterjee Mr. Sandeep Lakhotia Secretary

    Committee of Directors Mr. Hemant Kanoria Chairman

    Mr. Sunil Kanoria Mr. Salil K. Gupta Mr. Sandeep Lakhotia Secretary

    Share Transfer and

    Committee Mr. Salil K. Gupta Chairman

    Mr. Hemant Kanoria Mr. Sunil Kanoria Mr. Sandeep Lakhotia Secretary

    Asset Liability Management Committee Mr. Sunil Kanoria Chairman

    Mr. Shyamalendu Chatterjee Mr. Sanjeev Sancheti Mr. P. C. Patni Mr. Sandeep Lakhotia Mr. S. B. Tiwari Secretary

    Credit Committee Mr. Hemant Kanoria Chairman

    Mr. Sunil Kanoria Mr. Sujitendra Krishna Deb Mr. S. B. Tiwari Secretary

    Investment Committee Mr. Hemant Kanoria Chairman

    Mr. Sunil Kanoria Dr. Punita Kumar Sinha Mr. Anjan Mitra Secretary

    Mr. Shyamalendu Chatterjee Chairman

    Mr. Sunil Kanoria Mr. Sujitendra Krishna Deb Mr. S. B. Tiwari Secretary

    Nomination Committee Mr. Salil K. Gupta Chairman

    Mr. Sunil Kanoria Mr. Shyamalendu Chatterjee Mr. Sandeep Lakhotia Secretary

    Compensation Committee Mr. Salil K. Gupta Chairman

    Mr. Sunil Kanoria Mr. Shyamalendu Chatterjee Mr. Sujitendra Krishna Deb Mr. Sandeep Lakhotia Secretary

    ‘Vishwakarma’ 86C, Topsia Road (South) Kolkata – 700 046 Telephone : 91-33-6160 7734

    E-mail : corporate@srei.com Website : www.srei.com

    Listing

    BSE Limited

    Limited

    Depository Receipts

    Depositories National Securities Depository Limited Central Depository Services (India) Limited

    Contents Corporate identity 02 Chairman and Managing Director’s message 04 Vice Chairman’s message 08 Sustainability 12

    Believing Oneself 14 Risk Mitigation 16 Partnership 18 Enhancing Value 20 Transparency 22 Thinking Long-term 24 Social 26 Group structure 28 Infrastructure report 29 38

    42 Risk management 44 48 Directors’ report Report on corporate governance 86 Shareholders’ information 99 111 168

    1 billion = 100 crore, 1 million = 10 lakh

  • At Srei, we have always believed that the values we hold inevitably infl uence the value we create.

    Values like ethical business practices. Long-term strategy over short-term opportunism. Principles before profi ts. People before business. Performance before growth.

    The result has been our ability to retain our independent identity in a sector marked by mergers, acquisitions and absorption. Sustained growth in a sector marked by high changeover. Enhanced competitiveness across industry cycles. And the capacity to grow assets and competencies while gaining respect in a sustainable way.

  • CORPORATE IDENTITY

    Legacy: Srei (established in 1989 as an

    infrastructure-focused NBFC) is headed by

    Mr. Hemant Kanoria (Chairman and Managing

    Director) and Mr. Sunil Kanoria (Vice Chairman)

    and supported by experienced professionals.

    The Company has been funded by renowned

    global institutions like FMO, FINFUND, KFW,

    Austrian Development Bank, DEG and BIO,

    among others.

    Presence: Headquartered in Kolkata (India),

    Srei has 99** branch offi ces across India and

    two international offi ces (Russia and Germany).

    Its securities are listed on the Bombay Stock

    Exchange, National Stock Exchange, Calcutta

    Stock Exchange and London Stock Exchange

    (becoming one of the fi rst Indian NBFCs to list

    GDRs on this exchange)

    ** Does not include offi ces of associates

    CORPORATE PILLARS

    Vision: To be the most inspiring global

    holistic infrastructure institution.

    Mission: To be an Indian multinational

    company providing innovative

    integrated infrastructure solutions.

    ₹3,110 crore

    Revenues

    In 2012-13

    ₹15,667 crore

    Disbursements

    In 2012-13

    2.30% Net NPA

    As on March 31, 2013

    ₹33,330 crore

    AUM

    As on March 31, 2013

    21.68%

    Capital-to-Risk Assets Ratio*

    As on March 31, 2013

    *Standalone

    2

  • CORE VALUES

    INFRASTRUCTURE BUSINESS

    Customer partnership: At Srei, customer satisfaction is

    the benchmark for success. Srei delights its customers

    through a comprehensive range of personalised, fast,

    reliable, convenient, quality-driven and yet cost-effective

    fi nancial services.

    Integrity: Business integrity is a way of life at Srei; it

    stands by integrity in all its dealings and ensures strict

    adherence to the highest standards of business ethics.

    Passion for excellence: Srei’s passion for excellence is

    instrumental in its positioning as India’s most innovative

    infrastructure solutions provider.

    Respect for people: Srei acknowledges that its people

    are its most valuable assets and accordingly provides

    them with the best possible work environment and treats

    them like family. The Company rewards excellence and

    initiative.

    Stakeholder value enhancement: Srei is committed to

    earning the trust and confi dence of all its stakeholders.

    Its growth focus, ability to constantly enlarge its product

    basket while controlling risk and reducing cost of services

    has resulted in enhanced value for all stakeholders.

    Professional entrepreneurship: Srei’s in-depth

    knowledge of the infrastructure fi nancing business in

    India, coupled with its spirit of entrepreneurship, helps it

    overcome obstacles and complexities with professional

    expertise.

    Fund-based Fee-based Strategic investments

    Equipment fi nancing Project advisory Transportation

    Project fi nancing Project development Telecom infrastructure

    Equipment leasing (Russia) Insurance broking Power

    Investment banking Rural IT infrastructure

    Alternative investment funds Rentals (Construction, Oil & Gas, Energy)

    SEZ and industrial parks

    Environment (Water management / Waste

    management)

    Annual Report 2012-13

    3

  • Chairman and Managing Director’s message

    Hemant Kanoria, Chairman and Managing Director, Srei Infrastructure Finance Limited

    4

  • Y our Company will turn

    twenty-fi ve, next year,

    which is a quarter century,

    seems a very long time

    which has fl own away so soon. Many

    of you may recollect the Initial Public

    Offering of your Company in 1992-93

    which was for a nominal amount of

    ₹2.24 crore when our asset base was just about ₹5 crore. Now your Company’s consolidated net worth

    stands at over ₹3,000 crore and the consolidated total assets under

    management is at ₹33,330 crore. Some of you have been part of this

    journey all through, some joined

    later. I take this opportunity to thank

    you all for the support you have

    provided and the faith you have

    reposed in us.

    The global economic scenario

    continues to remain uncertain.

    Growth in India has slowed down

    too. After a 6.2 per cent GDP growth

    in 2011-12, growth has further

    moderated to 5 per cent in 2012-13.

    With the fi rst year of the Twelfth Five

    Year Plan (2012-17) experiencing

    such low growth, until and unless

    quick steps are taken, the nation

    may miss the Twelfth Plan targets.

    However, the good news is that

    infl ation seems to be coming under

    control. Therefore, the Reserve Bank

    of India (RBI) has been reducing

    the repo rates in a structured way,

    which will hopefully pave the path

    for increasing investments in the

    infrastructure sector as the sector is

    highly sensitive to interest rates.

    Optimists that we are, in spite of

    almost miniscule action by the

    Government, we are sanguine

    that India will be able to maintain

    its growth of above 5 per cent.

    Some positive measures aimed at

    improving the domestic scenario

    were announced during the latter

    half of 2012-13. I expect that

    momentum to continue. Many

    initiatives are in ‘work-in-progress’

    stage presently. Besides announcing

    several Bills and getting some of

    them approved in the Parliament, it

    is imperative that the Government

    looks at creating an enabling

    environment. The tax laws, capital

    market regulations and other

    regulatory guidelines have become

    so complicated and draconian that

    both the domestic and overseas

    investors / businessmen have

    become scared to invest in India. It