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HOME   >  CORPORATE INFO >  MANAGEMENT DISCUSSION
Management Discussion      
GTL Infrastructure Ltd.
BSE Code 532775
ISIN Demat INE221H01019
Book Value -4.97
NSE Code GTLINFRA
Dividend Yield % 0.00
Market Cap 13321.48
P/E 0.00
EPS -0.51
Face Value 10  
Year End: March 2015
 

MANAGEMENT DISCUSSION & ANALYSIS

BUSINESS SNAPSHOT

GTL Infrastructure Limited (GIL) is an independent Telecom Tower Company. The Company provides passive infrastructure on shared basis for telecom operators to host their active network components.

The business model of passive infrastructure sharing is based on building, owning, operating and maintaining passive telecom infrastructure sites capable of hosting active components for multiple telecom operators. The model enables operators to convert their capital expenditure to a fixed and brdictable operational expenditure allowing them to utilise capital towards core activities.

Together with Chennai Network Infrastructure Limited (CNIL), an associate, the Company has a combined tower portfolio of 27,839 towers sbrad across all the 22 telecom Circles in India, and serving most major telecom operators. The Company has been associated with brstigious projects promoted by DoT and COAI such as USO (Universal Services Obligation Fund) for rural telecom infrastructure and MOST (Mobile Operator Shared Tower).

The salient features of the passive infrastructure business model are

• Providing space to Operators to host their active Infrastructure on cell sites

• Towers are capable of hosting multiple technologies such as 2G / 3G / 4G LTE

• Growth tied to expansion of wireless networks

• Annuity driven business model - stable and growing revenues

• Long term (10-15 years) contracts with telecom operators, with a built in price escalation

• Ensuring 24x7 energy provisioning for enabling telecom operator’s uninterrupted network coverage

• Energy Management contracts for majority of tenants (as a pass through)

• Relatively fixed cost structure and low level of maintenance

• Predictable and growing free cash flow

Structure of Indian telecom tower Industry

Telecom towers form the backbone of wireless networks and provide last mile connectivity to subscribers. The telecom tower industry has rapidly grown in a short span of time. GIL played a pioneering role in shaping the industry. It was the first telecom tower company in India to get listed on the Indian stock exchanges and is today among leading independent Telecom Tower Company

INDUSTRY STRUCTURE & DEVELOPMENT

Indian Telecom Industry

The wireless telecom industry has shown tremendous increase in subscriber base to 960.58 Mn. at the end of February 2015 against 903.36 Mn. at the end of February 2014 registering a growth of 6.33% y-o-y for this fiscal compared to approx. 5% growth the year before. The share of urban subscribers declined to 58.01% at the end of February 2015 from 59.16% in February 2014 vis-à-vis the share of rural subscribers which increased to 41.99% at the end of February 2015 from 40.84% at the end of February 2014. With this, the overall tele-density in India has shown marginal improvement at 76.60 at the end of February 2015 vis-à-vis the overall tele-density of 72.92 at the end of February 2014. (Source: Telecom Regulatory Authority of India, Press Release dated April 10, 2015)

Major developments in the Industry

The year has recorded several activities by the government and the industry for renewed growth wave in telecom sector. The following are key developments :

Unified licensing:

• All telecom licenses will henceforth be granted as Unified Licenses, which will allow operators to utilize spectrum for any type of data or voice services

• All Unified Licenses to have validity of 20 years

• IP-1 (Infrastructure Provider category–1) is not included in the scope of Unified License. Therefore IP-1 companies are brsently not required to revenue share regime

Spectrum:

• In March 2015, DoT auctioned spectrum in various bands (800, 900, 1800 and 2100 MHz). Telecom Operators aggressively bid for renewal as well as for growth

• Further, for spectrum sharing and trading guidelines, Telecom Commission has finalized its views and sought Cabinet approval. Spectrum sharing is expected to result into efficient utilization of spectrum for network growth

• The government has also released a roadmap on the spectrum availability for future

• Spectrum auction of March 2015 resulted into aggressive bidding by telecom operators

• The winning bids fetched total amount of ` 1.1 Trillion to the government. Overall increases over estimated proceeds from auction is about 37%

• Airtel, Vodafone and Idea were the top three operators securing about 65% of the spectrum that was put up for bidding

• Telecom operators through this aggressive bidding secured their existing spectrum which was expiring due to completion of 20 years of license, and required it to retain the subscriber base. Some of the operators also procured growth spectrum

OPPORTUNITIES AND THREATS

The opportunities and threats that the industry is facing are enumerated below:

• Spectrum availability for telecom operators’ network expansions

• Data growth

• Digital India and NOFN project initiatives

• All the top operators are actively looking at consolidating their brsence in the Indian telecom market, and further leverage the cost efficiencies and gain market share. The operators, who have been lagging in the market place, are also looking at alternate strategies, as requisite scale in the Indian market has become one of the key success factors

• Telecom industry’s overall year over year growth in terms of subscribers and traffic is expected to rise for next five years faster than in recent past

• In next five years, data traffic will be majorly contributed by high speed data users of 3G and 4G technologies. Data subscribers are likely to contribute for 30% to 40% of total wireless subscriber base

• 3G technology users will continue to grow even after launch of 4G technologies

• Gaming, video streaming and OTT apps will increase the data usage per subscriber

• 2G Voice subscriber growth is stagnating. Compared to GSM, the CDMA voice subscribers have started reducing

• For 4G services aggressive pricing competition is expected among telecom operators

• Rural penetration will also be a focus for telecom operators for subscribers growth

• Due to spectrum fee payments, Telecom operators’ focus will be on operational efficiencies for achieving profitability

Future growth drivers

There are certain growth drivers that could lead to increased in sharing of towers which are:

• Launch of 4G / LTE networks: Using 4G / LTE technology, Operators can provide high speed data services to subscribers. With internet penetration, the growth of data services expected to ride on easy availability of smart phones in India. The launch of these networks is expected to give further fillip to requirements of telecom towers

• Focus on Quality of Service: Competitive telecom tariff alone is not a strategic advantage to telecom operators. Pricing along with better network quality will be a key driver for operators to retain and acquire new subscribers. The quality of customer experience becomes all the more important with the growth of data services. With expanded subscriber base and limited spectrum availability, operators are left with little option but to bring down the number of subscriber per BTS by creating a denser cellular network. This will drive demand for sharing of towers in urban areas

OPERATIONS

The Company is a pioneer in the shared passive infrastructure business in India. The Company’s approach towards business growth and delivery is focused on leveraging its leading position to take advantage of the growth opportunities in the fastest growing and second largest telecom market in the world

Portfolio Details

All the telecommunication towers of the Company are configured to host multiple wireless service providers.  The number of antennae each towers can accommodate varies depending on the type of tower Ground Based Tower (GBT) or Roof Top Tower (RTT). Generally, a GBT site can accommodate active equipment of around 3-4 Operators, while a RTT site can accommodate upto 2-3 Operators

Improving efficiency of operations

Ensuring health of the site infrastructure has always remained Company’s focus for bringing in operational efficiencies and avoiding unscheduled site downtime. Company has put in systems and processes for ensuring periodic equipment check and scheduled brventive maintenance. Further, the operations team of the Company has taken up specific measures for improvement of passive infrastructure quality as follows:

• Network improvement & upgradation through CAPEX deployment

• Segregated and provided for the End-of-Life (EOL) ‘Infrastructure Replacement’ requirements apart from the ‘Corrective Rectification’ requirements.

The Annual EOL replacement requirements quantified, budgted and are taken-up as a dedicated project, and are closely monitored by Project Management team.

Company has setup Inhouse “Technical Repair Centre” (TRC), which comprises of subject matter expert technical teams, that cater to the rectification requirements of major infrastructure equipment including Diesel Generator (DG) and Switch Mode Power Supply Systems (SMPS). This setup has brought in multifold benefits to the Company in terms of reduced overload / dependency on the OEM (Original Equipment Manufacturers) & their authorized service vendors, reduced cost of repairs and reduced ‘Mean Time To Repair’ (MTTR). The in-house team has rectified over 4000 DGs during the current financial year.

• Implementation of re-engineered processes and systems, expected to improve the MTTR

• Increased scope of insourcing the Site Fuel Management.

• Working towards implementation of the ‘Patrolling Security’ model instead of ‘Stationed-at-Site Security’ model

• Converting Indoor sites to Outdoor site, wherever feasible.

Efforts to reduce carbon footp rint / Green INITIATIVE

• Increased emphasis on bringing in EB connection at the Non EB sites where DG is the prime source of energy for the site to be operational

• Revalidating the DG capacity on sites based on the current tenancy visibilities. The site when built were designed to host multiple operators and thus deployed with higher capacity DGs

• Deployment of Free Cooling Device in place of Air Conditioner in the relevant terrain.

• Converting Indoor site to Outdoor site, wherever feasible and in agreement with the respective

Operators

Through the above efforts, Company has over 1,650 Sites which are declared Diesel Free (also known as Green Site, which consume less than 35 litres of diesel in a month)

Merger of CNIL and GIL

Post CDR of GIL and CNIL, the financials and capital structure of both Companies has changed substantially. Therefore the Company has decided to seek CDR Lenders / Shareholders approval to modify the Scheme of Arrangement and submit it for approval of the Hon’ble Courts, subject to approvals of shareholders, CDR EG, lenders and relevant statutory authorities.

FUTURE OUTLOOK

The Company intends to maintain its position, as one of the leading third party Independent Telecom Tower Infrastructure Company in India. The Company plans to capitalize on the 3G & 4G / LTE rollouts by providing combrhensive and value enhanced services to the Operators in cost efficient manner. This is expected to increase occupancy on towers and the Company will continue to explore organic & inorganic growth opportunities to strengthen its footprint in the Tower Infrastructure business.

Overall, the Company expects the tenancy growth to be driven by upcoming rollouts of 3G / 4G / LTE networks and the focused expansion by existing operators in semi urban and rural areas.

The clarity in the Telecom Sector, would spur the cycle of investments which would help the tower industry as well. The regulators and the government are also working on freeing the sector of several problems it faces, through the new Telecom Policy.

INTERNAL CONTROL SYSTEM

The Company has Internal Control system in place in order to achieve orderly and efficient conduct of its business, including adherence to management policies, safeguarding of assets, brvention and detection of fraud and error, accuracy and completeness of the accounting records, and timely brparation of reliable financial information. The Internal Control System encompasses financial & operational controls and statutory compliances.

The Internal Audit Department is responsible for the internal control function in the Company. It performs audit to monitor and evaluate the effectiveness of the organization’s internal control systems and adherence to management policies and statutory requirements.

The audit coverage in the Internal Audit Department of the Company is in line with the objectives of Internal Audit as brscribed by the Institute of Chartered Accountants of India (ICAI). The role of Internal Audit Department in the Company is as given below:

• Understanding and assessing risks and evaluating adequacies of the brvalent internal controls

• Identifying areas for system improvement and strengthening controls

• Ensuring optimum utilisation of the resources of the Company by providing internal asset portal

• Ensuring proper and timely identification of liabilities, including contingent liabilities of the Company

• Ensuring compliance with internal and external guidelines and policies of the Company as well as the applicable statutory and regulatory requirements

• Safeguarding the assets of the Company by setting up a process of every change record

• Reviewing and ensuring adequacy of information systems security control

• Reviewing and ensuring adequacy, relevance, reliability and timeliness of management information system

The Internal Audit Committee meets regularly as may be required to review the functioning of internal audit setup in the Company. The Internal Audit function is monitored by the Board Audit committee with assistance from the Internal Audit Committee. The Board Audit Committee periodically reviews audit plans, audit observations of both internal and external audits, audit coverage, risk assessment and adequacy of internal controls.

Thus effective internal control structure has been set up in the Company to enhance organisational performance and contribute towards accomplishment of its objectives.

HUMAN RESOURCES

We believe manpower resources at GIL play an important role in providing quality infrastructure to the telecom operators. GIL resources are important assets for the Company. Human Resource (HR) function at GIL ensures multiple opportunities for leadership growth and excellent work environment. The HR strategy aims at attracting, developing and retaining talent in the organization. During the year under review, no complaint / case has been received in terms of Sexual Harrasment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 and Rules made there under.

Employee Profile

The direct employee strength of the Company stood at 398 as on March 31, 2015. The Company continues to invest in resources and acquire talent, where required. HR at GIL would continue to strive for betterment of the employees and work towards creating motivated environment.

QUALITY

GIL is an ISO 9001:2008 certified and is committed to providing its customers with value added services whilst deploying its core offerings. The Company has established a set of key principles and processes that ensure high level of ‘Quality’ along with ‘Efficiency’ in its services.

Quality Management System at the Company comprises of the standards & initiatives used for execution and O&M of the sites (Passive Telecom Infrastructure) using a set of Internal & External processes. The system is made up of several processes interlinked / interfaced (software applications) including procedures, work instructions, formats, resources, policies, guidelines, regulations, materials, supplies, tools & equipments, which help the Company to transform inputs into desirable outputs.

Project site & Process Quality

As per our philosophy, quality improvement is done at the execution stage. This saved lot of resources in rework and maintenance and has helped the Company to save on its infrastructure provisioning cost and has boosted the Company’s EBITDA Margin. This was mainly achieved through categorizing the sites based on their quality into three buckets and bringing majority of sites under the AAA category from AA & A categories.

Health, Safety and Environment

GIL is committed to Health and safety of all its people, by providing a written statement of intent and plan of action for creating and maintaining a healthy, safe and environment friendly work environment.

GIL is committed to health and safety of its employees, associates and contractors; and instills it as a value. GIL has developed framework for maintaining world class practices. GIL has formed a H&S team to manage health and safety in is operations and to build safe culture across the organization.

GIL has set in place documented procedures which ensure the Health, Safety and Wellbeing of Employees, Contractors, Assets and Customers property. The Company has set the HSE policy, objectives and shared the responsibility to continually improve the HSE performance. HSE committees across pan India contribute in improving the HSE performance by Training, Communication, Audit, Handling Emergencies, Mock Drills etc.

Risk Management

In today’s dynamic business environment ‘Risk Management’ is an essential function to have sustainable and effective business model in place in India. Enterprise Risk Management (ERM) has evolved steadily in progressive companies. It is developing from being merely a risk identification and assessment process to building a risk portfolio that is continually assessed and monitored. The perception that “Risk is not my Responsibility” has evolved to a more realistic “ Risk is everybody’s Responsibility”. We at GIL have a Risk Management Group (RMG) in place to facilitate the execution of risk management across the organinsation. Our approach is to identify, monitor and evaluate risk throughout the group companies and to manage these risks within our risk appetite. For the very purpose we have an integrated ERM Framework in Place.

This report is brpared in accordance with clause 49 (IV) of the Listing Agreement with Stock Exchange in India, set out the ERM Practiced by GIL. Shareholders and other readers are cautioned that the risks outlined here are not exhaustive and are for information purpose only. New risks and uncertainties arise from time to time and it is impossible for us to brdict these events or how they affect us.

I. M arket Risks

M acro Economic Outlook The global perspective

• Estimates show that 70% of world growth over the next few years will come from emerging markets, with China and India accounting for 40% of that growth

• As per World Bank, the South Asian region’s economy will expand by a real 6% in 2015 and by 6.4% in 2016 compared to 5.4% in 2014, potentially making it the second fastest growing region in the world after East Asia and the Pacific. The Indian economy, 80% of the region’s output is set to grow by 6.4% in fiscal year (FY) 2015-16 after 5.6% in FY2014-15

• Adjusted for variations in purchasing power parity, the ascent of emerging markets is even more imbrssive: the International Monetary Fund (IMF) forecasts suggest that investors will continue to invest in emerging markets for some time to come. The emerging markets already attracted almost 50% of Foreign Direct Investment (FDI) global inflows and account for 25% of FDI outflows

• The brightest spots for FDI continue to be India, Africa, the Middle East, and Brazil, Russia, and China (the BRICs), with Asian markets of particular interest at the moment

• By 2020, the BRICs are expected to account for nearly 50% of all global GDP growth. Securing a strong base in these countries will be critical for investors seeking growth beyond them The Indian perspective

• Indian Annual CPI Inflation decreased to 5.17% in March 2015 from 5.37% in February 2015, below market expectations. It is the lowest rate in three months due to a slowdown in food cost. Inflation has rapidly cooled in India following a spectacular drop in global crude oil prices, softer food costs and favorable base effects from brvious reporting periods. The RBI has targeted 6% inflation by January 2016 and indicated that if the target is met it would shift to 4% goal over the longer term

• The inflation continues to remain low, keeping this in mind Reserve Bank of India (RBI) Governor Mr. Raghuram Rajan has after the brsentation of the Union Budget 2015, unexpectedly cut the Policy Repo Rate by 25 basis points the rate at which the RBI lends funds to the banks by 50 basis points to 7.50% in calendar 2015 and keep the Cash Reserve Ratio (CRR) of scheduled banks unchanged at 4% of net demand and time liabilities

• The Company has External Commercial Borrowings of 9 Mn. Euro and Foreign Currency Convertible Bonds (FCCB) of US$ 242.573 Mn.

This poses both a Foreign Currency Risk as this is un-hedged as well as a liquidity risk. The Company has restructured FCCB successfully and has postponed the liability till November 2017

• As the revenues from our existing business lines are all dependent on the sustainability of telecom sector, we believe that Macro Economic factors, including the growth of the Indian economy, interest rates, as well as the political and economic environment, have a significant direct impact on our business, results of operations and financial position

L iquidity and Leverage Risks

During the last year, GIL and CNIL has entered into Settlement Agreement with Aircel and has received settlement amount in the Company as part of the overall settlement amount which provides short term to mid-term visibility for some relaxation in liquidity concerns.

During the last few years, the Telecom Industry has been adversely affected by the general economic slowdown and various other factors such as slower growth of 3G Technology, failure of spectrum auctions and inflationary costs of power & fuel. This has resulted into substantial erosion of the Company’s net worth and the Company has incurred cash losses.

The Company continues to take various measures such as cost optimization, improving operating efficiency, renegotiation of contracts with customers to improve Company’s operating results and cash flows. Further, the management believes that new spectrum auction will result in exponential growth in 3G & 4G/LTE which are expected to generate incremental cash flows to the Company redit Risks

GIL provides Passive Telecom Infrastructure to Telecom Operators in India. During brvious few quarters, all Telecom companies faced increased brssure on earnings and financing fronts. However, recently few operators increased call rates and substantially reduced promotions which would lead increase top line. These efforts may ease the payment terms to vendors during short to medium term. As a vendor to these players, GIL is currently facing a medium credit risk.

The Subrme Court of India verdict for cancellation of 122 Telecom licenses caused losses & impairment for Tower companies, adversely impacting their financing and fund raising plans. Based upon the spectrum auctions, the license charges paid by the operators will impact the net margins of the operators. Hence the increased capital charges (the interest outgo on account of debt raised for 3G Network rollout, and the amortization of spectrum charges) would place additional brssure on Operators’ bottom lines.

II. Strategic Risks

Industry Risk

The Subrme Court’s verdict to cancel all 122 2G licenses has hit several Telecom Tower Companies. This resulted in loss of Tenancies & Revenue to GIL and CNIL for remaining tenure of their licenses. The process of re-allocation of these licenses may result in fewer numbers of players with access to more spectrums temporarily, reducing the demand for towers thus, affecting our future earnings. Thus once the rollouts restart, it shall provide the Telecom Tower Industry with some roadmap that would divulge a clear future of the industry that would help reduce the ambiguity that currently is persistent.

The Corporate Debt Restructuring (CDR) moratorium period has ended. The Cost of this debt is 10.75% per annum and principal payments have started since as well. The restructuring plan has put in negative impact on new assets addition or expansion. In light of all the above events and the fact that it may take the Company at least 2-3 years to recover, stabilize and get into a growth mode again, the Company is exploring innovative financial structures to discount revenues to generate liquidity in the Company and proactively drawn up a “Refinancing and Consolidation Proposal.

Concentration Risks

GIL’s business faces very high Concentration Risk because of the following reasons:

• Operates primarily in one Sector viz. Telecom

• Operates only in India

• The customer base is limited to number of Telecom operators in India

• Increasing nos of competitors and Special rates offers

• Geographical Concentration Risk like Political, Social, Economic & Technological factors governing India

• GIL has towers in various new regions in India like North-Eastern States, Bihar, Jharkhand, Orissa, Jammu & Kashmir etc.

• The Aircel deal has increased the penetration of GIL in the untouched remote areas where it was not brsent to offer services to its customers. But At the same time more than 50% of the business of the Company comes from Aircel

Competitive Risks

Competitive landscape for the company is limited in the Tower Space. The competition is intense among companies like Indus, Viom, Bharti Intel, BSNL & Reliance Infranet. The Company is among the largest neutral & independent Tower Company in the country and needs to Market its independent status and leverage it to gain more tenancies.

III. Operational Risks

Reputation Risk

Due to debt restructuring & external events as explained above, the cash flows of the Company have been under severe brssure and its subsequent effect on business operations have led to challenges of services to customers’ thereby damaging reputation.

Supply Chain Risk

The delay in supply of crucial materials and services required for corrective and brventive maintenance of Passive Infrastructure may impact smooth functioning of business operations resulting into increased penalties and damages imposable by customers.

Additionally, suppliers may tighten credit and other terms that they may be extending to the Company thereby increasing the liquidity strain on the Company and hampering its ability to deliver projects and running operations on a timely basis.

Manpower Risks

In the light of the current state of affairs owing to Telecom Industry scenario, the expected slowdown in business and the growth prospective irrespective of CDR, may still lead to increased levels of attrition and Challenges in project execution and service delivery.

These factors may act as deterrent to recruitment of quality manpower to replace those who leave the Company for the any of the above reasons or otherwise.

IV. Legal and Compliance risks

Legal and Compliance risks may arise from occasional non-adherence to timely deliverable and Service Level Agreements (SLA). These pose immense challenge in the Telecom Services Industry. It takes adequate insurance cover to protect against possible liabilities from non-performance of contracts, reviewing them continually and initiating corrective action. As a policy, open-ended contracts with open-ended obligations are rejected.

The Company is not regulated by any regulatory agency and faces the general regulatory environment that is brvalent in the country. However, customers on the Telecom side are regulated by Telecom Regulatory Authority of India (TRAI).

V. Other Risks

Political Environment Outlook

• The Company does not have any interface with the Government or any regulatory authority in its business.

Risk Rating Parameters

The Company has identified the following risks as the Top 5 risks facing the company and these have been discussed in detail in the chapter. The level of the risk that is perceived by RMG and suggested Mitigation Plan are discussed in the following table.

Education

Our philosophy towards education is to ensure meaningful education to the economically under served sections so as to enable them to compete on equal footing. The education program covers 3 areas – Computer education, English language education and Value education to students. We do this through the following programs.

Gyan IT - Computer Education

The field of education has seen a fair number of transformations over the years. In this age of rapid technology growth; we see a world which is more connected than ever before. Global Foundation had the vision to map these changes very early in the 90’s and worked towards making a part of Maharashtra computer literate by setting up labs in schools in the Sindhudurg district.

One of the greatest advantages of having labs in schools is the fact that everyone can have equal access to computers. All students who have little or no access to computers in today’s day and time are able to learn technology and build a better future for themselves through those labs. Last year Global Foundation successfully set up 27 computer labs which benefited approximately 2,600 students. The Foundation has set up more than 133 computer labs all over Sindhudurg district in the last 11 years which has benefited more than 188,000 people.

Knowledge on Wheels (KNOW)

Global Foundation under project ‘KNOW’, reaches out to the rural students through its mobile computer lab along with a qualified instructor. This unique mobile computer lab traverses through rural areas to promote IT literacy. More than 43,361 students have been covered in this program.

At brsent the KNOW bus is traveling through Sindhudurg district training the school children for whom computer education is a challenge. The tremendous response from that area has also been seen and apbrciated by educationists who have requested that a similar kind of bus is launched in other such areas.

Gyanjyot Education Financial Support Program

The Foundation had started this Educational Financial Support scheme in order to support children from economically backward families. The objective of the scheme is to provide financial assistance to students belonging to poor families so as to enable them to pursue and complete their education. Year 2014-15 saw many students taking advantage and more than 1400 students were supported financially under this program. To date the Foundation has provided 5,584 scholarships.

Education for Peace - Value Education

Education for Peace program (EFP) is our contribution to build a better future by empowering school teachers and students. Education for Peace implies a paradigm shift in the total transaction of education. The training enables and equips teachers to nurture among children knowledge, attitudes and values that comprise a culture of Peace. It is a long-term proactive strategy to nurture peaceful persons who resolve conflicts non violently.

Education for Peace has taken a huge leap in the year 2014-15 in terms of diversity of activities for students and content, delivery and coverage for teachers. Professional trainers were assigned to design a competency training program-”Antarjyot” which covers six competencies to build required skills to transform teachers to become Peace educators. The design also lends itself to be measured to facilitate scaling up.

Another milestone has been partnering with like minded organizations working in this field. Outcomes have been experience-sharing, training the trainers and collaborating with partners in framing and designing the curriculum for peace activities as envisioned by UNESCO and NCERT.

EFP is holistic, embracing the physical, emotional, intellectual and social growth of children within a framework of human values.

• Teachers: The Foundation has created a competency based framework to train teachers on Holistic Thinking, Interpersonal Skills, Execution Excellenc, Transformational Leadership, Problems Solving and Decision Making and last but not the least Communication and Etiquettes.

• Students: Schools of trained peace educators along with our team facilitators are encouraged to form Harmony Clubs where students are given opportunities to experience and internalize Peace values. Activities like camps, yoga classes, rallies with peace messages, drawing and literary competitions and annual summer camps are held

Health & Safety

Aarogya Health does not merely mean the absence of a disease but also the general well being or freedom from an illness. The Indian population is weighed down by diseases due to lack of environmental sanitation and safe drinking water, malnutrition, poor living conditions, and limited access to brventive and curative health services. Expenditure on health care in our country has been minimal and hence there is a gap in the urban & rural medical services.

Global Foundation has been creating health awareness in parts of Maharashtra and is conducting general health camps, diabetes awareness, ophthalmic and blood donation camps for more than 11 years. Hemoglobin checkup camps have helped people identify and treat many potentially harmful diseases. The mobile health van services are provided free of charge.

Global Foundation’s mobile health van that travels to areas do not have ready access to health services. Our van enables doctors and health counselors to overcome the obstacles that often brvent or deter people from obtaining important health tests. The van frequently visits community centers, old age homes and schools also to conduct various health related camps.

Emergency Medical Assistance

As per the World Health Organization (WHO) survey, there are around 30% people who die due to lack of adequate Emergency Medical Services. Emergency financial assistance for treatment is an essential part of the healthcare support provided by Global Foundation. We also provided a couple of ambulances and medicines in the aftermath of the floods in J&K therefore, developing a strong emergency medical assistance system has been one of the focal points of the overall health care objectives of Global Foundation.

Disability

Netra

Global Foundation’s project Netra for the visually impaired has an Advanced Computer center in Mumbai. Global Foundation intends to provide training and enables the visually impaired achieve success in pursuing higher education, cope with a competitive work environment and discover better employment opportunities.

The Computer courses are supported by additional soft skills and personality development programs by Positrons and other volunteers. Refresher courses and sessions on the interview process are conducted to enhance their job prospects. Last year a total 35 students were awarded certificates on successful completion of their courses. Many of them have found jobs in the IT sector, banks and have become financially independent. At brsent 18 students are currently undergoing the basic & advanced computer course at Global Foundation’s Advanced Computer Center for the Visually Challenged at Mumbai.

The Foundation encourages students and trainers to seek better opportunities in the main stream corporate sector. Many students as well as past trainers have gone on to do very well in their professional careers after training. The Foundation has also supported the Cricket Association for the Blind in Maharashtra to conduct Blind Cricket Tournament in FY 2014-15.

Community Development

Community Development supports the establishment of strong communities who work together to improve the social structure of a country.

Towards this, the Global Foundation has supported in constructing the building of a School at Alibaug in the state of Maharashtra that enables more students to be admitted in primary section. The Foundation has also provided bio toilets in some schools.

We also supported 4 shelter homes for girls in J&K by providing them with solar lamps, inverters and UPS that would assist them with their education and livelihood which were adversely affected due to the floods.

Village Knowledge Center (VKC) - IT Education for Women & livelihood skill training programs The VKCs have benefited women mainly housewives by generating employment and improving their standard of living. It’s also a center for learning and awareness in rural areas. Women earn a decent amount without having to leave their homes for longer duration. This has added to their self esteem and confidence.

At brsent Global Foundation supports two VKCs in Kudal and Vengurla which provides computer education and vocational training to women. Special tailoring batches for girls, soft toy training and purse making have benefited women in the vicinity. Additionally women have also taken advantage of the computer training programs and have found jobs near their homes.

Global Foundation’s support to other NGOs and institutions during the FY 2014-15

• Borderless World Foundation – Support for Jammu & Kashmir (J&K) Flood Relief

• Standing Together Enable Peace Trust (STEP) support for Youth development centre at J&K

• Shri Lalita Charitable Foundation - Support for constructing school for students affected by Cancer and Aids

Environment

Pedal for Peace Cyclothons

The Government of India has been taking several measures to promote cycling as an alternate means of transport. The objective being to decongest roads, promote sustainable cities and greener environment. Recognizing this as an important initiative, the Foundation, has started promoting cyclothons to sbrad the awareness of cycling, greener environment and also to ensure safer roads for pedestrains and cyclists.

Global Foundation supports Pedal for Peace cyclothon, an annual event, that is held with an objective to promote the message of cycling, peace and harmony. The cyclothon is organized from Thane to Mumbai and back, covering a distance of more than 100 kms. So far the cyclists have covered more than 13,100 kms sbrading the message of cycling and peace.

Standard Chartered Mumbai Marathon (SCMM) Every year Global Group employees participate in the Standard Chartered Mumbai Marathon to support the Global Foundation. This year 112 persons took part to support and donate to the Global Foundation.

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RISK DISCLOSURES ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Source: Click Here.