Page 20 - KRCL ENglish

* Rights Shares amounting to ` 29.40 Crore were allotted to Government of Karnataka on
03.06.2020. Hence, paid up capital as on date of reporting Directors' Report is
` 1312,45,62,000.
During the year, the corporation had issued 3rd Rights Shares of ` 490 Crore and as on
31.03.2020, no subscription amount has been received from the shareholders.

2.2 Preference Share Capital

The authorized and paid-up, Compulsorily Convertible, Non-Cumulative Preference
Share capital of the Corporation, as on 31.03.2020, stood at ` 4079,51,00,000 (Rupees
four thousand seventy nine crore fty one lakh), held by Ministry of Railways.

2.3 Issue & Redemption of Bonds

During the year 2019-20, the Corporation redeemed Bonds worth ` 120 Crore (Rupees
one hundred twenty crore) and issued fresh Bonds worth ` 120 Crore (Rupees one
hundred twenty crore) on Private Placement basis, for meeting redemption liability.

2.4 AAA (CE) Rating of Bonds

For the year 2019-20, Credit Rating Agencies - CARE, ICRA and India Ratings, have
reafrmed “AAA (CE)” rating for the outstanding Bonds of the Corporation.

3. KONKAN RAILWAY RESPONSE TO COVID-19 PANDEMIC

KR is the only PSU operating a railway line along the Konkan coastal region from Roha
near Mumbai in the State of Maharashtra to Thokur near Mangaluru in the State of
Karnataka. KR along with Indian Railway as a family is also in the forefront of the war
against Covid-19 pandemic. Freight Operations were continuing moving food grains and
fertilizers destined for the West Coast areas of Maharashtra, Goa, Karnataka and Kerala.
Daily 1400 of the 5500 staff was coming on duty every day to run these operations and
staff with desk jobs were working from home. KR was keeping complete vigil on safety
maintenance of all assets during lockdown period.

The suspension of passenger trafc and restricted freight movement due to nationwide
lockdown, has severely impacted the nancial position of the Corporation. During the
lockdown period due to Covid-19 pandemic, Corporation suffered revenue loss of
` 70 Crore and incurred expenses of ` 0.22 Crore. during lockdown period toward
preventive health measures till 31/03/2020.

Corporation followed all the administrative and Health guidelines issued by MHA and the
State of Maharashtra, Goa and Karnataka during the lockdown period.

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