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Haryana State Industrial Development Corporation Ltd.

ANNUAL ADMINISTRATIVE REPORT ON THE WORKING OF THE CORPORATION FOR THE YEAR 1999-2000 :

Established in March,1967, under the guideline issued by the Government of India,the Haryana State Industrial Development Corporation Ltd. (HSIDC), has been playing the role of an Institutional Entrepreneur as well as a development-cum-financial institution for accelerating the pace of industrial growth in the State primarily in the medium and large scale sectors. It also provides infrastructure facilities for the entrepreneurs by developing industrial estates at various strategic points in the state.

The activities of the Corporation are grouped the following main heads:

  I. Term lending and Merchant Banking Services.

II. Setting up of industrial units in the public/Joint/Assisted Sectors.

III. Development of industrial infrastructure in the state of Haryana.

As on 31.3.2000, the entire paid up capital of Rs. 46.99 crores is held by the State Government. During the year 1999-2000 the Corporation issued and allotted 23366 number of equity shares of Rs. 1000/-in favour of Governor of Haryana. During the year, the Corporation received Rs. 55.66 lacs from the State Government towards equity Capital. The reserves and Surplus of the Corporation as on 31.3.2000 stood at Rs. 39.67 crores. During the year 1999-2000 the Corporation paid Rs. 18.78 crores to the State Government towards conversion charges under the Industrail Area activities. Furthure the Corporation also contributed Rs. 1.00 crore to the State Government towards Small and Medium Enterprises Revenue Fund .The Corporation also contributed Rs. 25 lacs towards Chief Minister’s Relief Fund during the year 1999-2000.The performance of the Corporation under its various activities are as under :-

I Term Lending and Merchant Banking Services :

HSIDC started the term lending activity under IDBTs Refinance Scheme in March,1979. Under the General Term Loan Scheme.HSIDC can sanction term loan upto Rs.500 lacs for a single project in the State of Haryana. Besides, the Corporation also provides loan under Equipment Finance Scheme upto Rs. 250 lacs per proposal for existing profit making compaines, Working Capital Term loan to meet working capital requirements, loan against sanctioned State Capital Subsidy and lease financing upto Rs.250 per proposal. So far corporation has sanctioned loan aggregating to Rs. 807.02 crores to 507 proposals upto 31.3.2000, out of which Rs.233.71 crores have been sanctioned to 177 proposals in backward areas. These units are expected to provide employment to about 53025 persons (17691 in backward areas) The investment catalysed through term loan assistance would be to the extent of Rs.1920.88 crores (Rs.592.64 crores in backward areas). These projects, when in full production are expected to have sales turn over of Rs.9283.39 crores (Rs.2017.39 crores in backward areas).

During the current financial year corporation has sanctioned Rs.10556.01 lacs and disbursed Rs.5825.00 lacs as term loan.

Performance of the Corporation during the last 5 years is given as under :- 

The Corporation has also been registered as Category-I Merchant Banker by Securities Exchange board of India (SEBI).The Corporation is providing merchant banking services. Like under-writing of pubic/right issues, accepting assignment of lead Manager. Co-Manager to the issue also subscribing equity shares under Investment banking Scheme.

Setting up the industrial units in the public/Joint/Assisted Sector :

HSIDC. As an institutional entrepreneur, has participated in the equity capital under Joint/Assisted sector Scheme in 68 projects of which 63 units have gone into production. These units have catalysed an investment of Rs. 747.04 crores by the Corporation in the state of Haryana with an equity contribution of Rs. 35.38 crores by the corporation. These projects have created employment opportunities for about 9888 persons directly and many more indirectly. Complete disinvestment of equity has been done in 19 projects while in 10 projects the Corporation has partly dissinvested its shares in favour of private parties.

Keeping in view the present capital market scenario, the Corporation decided to restrict its exposure in the equity investment under project promotion Scheme . The Corporation has made following investment/disinvestments under the scheme during the last 5 years.

	1995-96	1996-97	1997-98	1998-99	1999-2000
	(Rs. In lacs)
Equity Investments	202.65	89.50	35.60	10.00	--
Disinvestments	231.07	92.06	351.92	505.10	255.00