MIRA
INFORM REPORT
|
Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Alipore, Kolkata – 700
053, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.01.2006 |
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Com. Reg. No.: |
144763 |
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CIN No.: [Company
Identification No.] |
U22213DL2006GOI144763 |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
The main function of the mint is minting of coins to meet domestic
requirement, gold and silver assaying and medals production. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 1290000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a company of Government of India. It has been incorporated
to take over the India Government Mint’s located in several Indian cities of The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Alipore, Kolkata – 700
053, West |
|
Tel. No.: |
91-33-4014132/4014133/4014134/4014135 |
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Fax No.: |
91-33-4010553 |
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Telegram : |
“NEWMINT” |
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E-Mail : |
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Website : |
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Corporate Office : |
16th Floor,
Jawahar Vyapar Bhawan, Janpath, New Delhi-110001, |
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Tel. No.: |
91-11-23701225- 26, 23701141-42 |
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Fax No.: |
91-11-23701223 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Arvind Mayaram |
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Designation : |
Chairman and Managing Director, Joint Secretary (Infra), Department of
Economic Affairs |
|
Address : |
D I/38, Bharti Nagar, New Delhi-110003 |
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Date of Birth/Age : |
23.10.1955 |
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Date of Appointment : |
13.01.2006 |
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Name : |
Mr. Muthiyan Deena Dayalan |
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Designation : |
Director, JS and FA, MOF |
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Address : |
D-I/96, Rabindra Nagar, New Delhi-110003 |
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Date of Birth/Age : |
22.02.1950 |
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Date of Appointment : |
13.01.2006 |
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Name : |
Ms. Kavery Banerjee |
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Designation : |
Director, DDG (D/o Post) |
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Address : |
G-13, SF Type V, |
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Date of Birth/Age : |
25.04.1956 |
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Date of Appointment : |
16.02.2006 |
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Name : |
Mr. Radha R Dash |
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Designation : |
Director, JS (CPV), MEA |
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Address : |
D-1/198, Bharti Nagar, New Delhi-110003 |
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Date of Birth/Age : |
14.05.1954 |
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Date of Appointment : |
16.02.2006 |
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Name : |
Mr. Anoop Kumar Srivastava |
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Designation : |
Director, JS (CS), MHA |
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Address : |
301, Bapu Dham, Chanakya Puri, New Delhi-110021 |
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Date of Birth/Age : |
11.08.1958 |
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Date of Appointment : |
24.03.2006 |
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Name : |
Mrs. K J Udeshi |
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Designation : |
Chairman, Banking Codes and Standards Board of |
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Name : |
Mr. Ashok Chawla |
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Designation : |
Managing Director, Additional Secretary DEA |
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Address : |
C-II/69, Satya Marg, Chanakya Puri, New Delhi-110021 |
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Date of Birth/Age : |
08.01.1951 |
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Date of Appointment : |
13.01.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
All the shares are held by Central and State Government.
BUSINESS DETAILS
|
Line of Business : |
The main function of the mint is minting of coins to meet domestic
requirement, gold and silver assaying and medals production. |
GENERAL INFORMATION
|
Bankers : |
State Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Raghu Nath Rai & Company Chartered Accountants |
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Address : |
9, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000000 |
Equity Shares |
Rs.10/- each |
Rs.25000.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
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|
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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|
0.500 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
323.267 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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|
323.767 |
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LOAN FUNDS |
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|
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1] Secured Loans |
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|
0.000 |
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2] Unsecured Loans |
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|
11109.012 |
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TOTAL BORROWING |
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|
11109.012 |
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DEFERRED TAX LIABILITIES |
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|
127.305 |
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Grants from Ministry of Finance, Grants from Government |
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28462.925 |
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TOTAL |
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40023.009 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8697.227 |
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Capital work-in-progress |
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|
50.870 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9579.452 |
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Sundry Debtors |
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13470.367 |
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Cash & Bank Balances |
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|
9901.915 |
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Other Current Assets |
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|
0.000 |
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Loans & Advances |
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|
321.690 |
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Total
Current Assets |
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|
33273.424 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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Current Liabilities |
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|
1948.859 |
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Provisions |
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|
49.653 |
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Total
Current Liabilities |
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|
1998.512 |
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Net Current Assets |
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|
31274.912 |
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|
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MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
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TOTAL |
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40023.009 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
|
PAT / Total Income |
(%) |
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
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|
40.48 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
16.65 |
LOCAL AGENCY FURTHER INFORMATION
History
The old Kolkata Mint at
The building with its imposing frontage was designed on the of the
At that time the coinage production capacity was varying between 0.300
million to 0.600 million pieces per day. It was named “Silver Mint”. In 1860 an
annexe known as “Copper Mint” was built. Both Silver Mint and Copper Mint used
to function side by side and productions were Bronze, Silver and Gold coins.
Apart from minting of coins another important function of the Kolkata Mint was
manufacturing of medals and decorations during British regime, which is still
continuing. In addition to home consumption of coinage, Kolkata Mint produced
coins for countries and estates within and outside
Just before World War II, it was decided to built a new Mint at Alipore,
Kolkata Mint was opened by Government of India’s Hon’ble Finance Minister C.D.
Deshmukh on the 19th March, 1952. The full operation for the coinage
and preparation of medals, decorations and badges started in Alipore Mint from
this date.
The new Mint at Kolkata has started with a coinage production capacity
of about 1.200 million pieces per eight hours shift. The mint at first was
equipped for processing of pure nickel coins.
In 1957 the Decimal system was introduced in Indian coinage and the
production were of the denominations:-
|
Rupee Coin |
Pure Nickel |
|
50 Paise |
Pure Nickel |
|
25 Paise |
Pure Nickel |
|
20 Paise |
From April, 1968 in Aluminium-bronze |
|
10 Paise |
C. N. & Aluminium bronze and Aluminium magnesium |
|
5 Paise |
C. N. Then Al. Mg. |
|
3 Paise |
Al. Mg. From July, 1964 |
|
2 Paise |
C. N. Then Al. Mg. |
|
1 Paise |
Bronze then Nickel Brass from 1962 |
|
|
Al. Mg. |
Later on the Rupee coin, 50 paise coin, 25 paise coin were converted
into cupronickel coins. Presently the Kolkata Mint is producing coins of the
following denominations:-
|
Denomination |
Composition |
|
Rs. 5/- |
Cupro Nickel |
|
Rs. 2/- |
Cupro Nickel |
|
Rs. 1/- |
Stainless Steel |
|
50 Paise |
Stainless Steel |
|
25 Paise |
Stainless Steel |
|
10 Paise |
Stainless Steel |
Management
Mr. S. D. Dadgich – General Manager
Businesss
Subject is one of the 4 Government Mints. The main function of mint is minting of coins
to meet domestic requirements, gold, and silver assayings and medals
productions.
The company’s coins production, Kolkata Mint produced different
commemorative and development oriented coins for last several decades, details
of which are annexed. It also worked as a center for issue of bars in exchange
of unrefined gold tendered by licensed dealers. This mint has been producing
medals of various types like Bharat Ratna, Padma Vibhusam, Sena Medals etc. The
medals for defence, Ministry of Home Affairs, Educational Institutions, Social
Service, Badges, Token etc. Production of Medallions for National and
International Film Festivals are also the pride of Kolkata Mint.
The company’s major product and
indentors includes :-
|
1. Regular/Circulated Coins |
Reserve Bank of |
|
2. Commemorative Coins |
Ministry of Finance & Other |
|
|
Ministries & General Public |
|
3. Medals |
Central & State Government |
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|
Departments, Educational Institutions |
|
4. Treasuries Tokens |
State Government Treasuries |
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5. Tokens |
NDBB etc. |
|
6. Embossing Seals |
Central and State Government and various other organisations |
|
7. Railway Passes |
Indian Railways |
|
8. National & International Film
Festival Medals |
Directorate of Film Festivals |
The modernisation of Kolkata Mint comprises the installation of
Induction Melting Furnaces, highly efficient Continuous Casting Plant, 4 Hi Cold
Rolling Mill, Strip Milling Machine, Annealing Furnaces, Blanking Presses,
Picking & Polishing Lines, High Speed Coining Presses. All these machines
have been suitably planned in the existing premises after removal of the
obsolete machines as also making substantial production during the phasing of
the old machines. All the auxilliary facilities including its electrics and
water supply systems for these new machines are plant in new building within
the same compound of the Mint.
Being rejuvenated it has been earnestly looking forward for a change for
the last few years to have an equal footing with the changed modernised minting
process available in other advanced countries and to meet growing coinage
demand. Oil fired furnaces in the melting shop have been done away with and
there appeared Induction Furnace, Scheuller coining presses, the most
sophisticated press, have started functioning. The stainless blanking lines for
blanking, counting and packing are making in roads in shop floor, computers to change
the system of existing accounts and administrative work, close circuit TV to
monitor the security. Kolkata Mint now cherishing while entering into its
Golden Jubilee Year.
The company’s production of coins have been increasing every year. In
1996-97 it produced around 475 millions pieces of coins, whereas its production
in 1999-2000 had increased to around 650 millions pieces.
It is under the administrative control of Ministry of Finance,
Government of India.
Tenders :-
Global Tender List
Supply of 12,100 MT of FSS Coin Blanks
Notices :-
C. R. Das Coins
Saint
Dnyaneshwar Coins
CURRENCY AND
COINAGE DIVISION
The India Security Press,
Achievements of
the Press during 1999-2000 (upto 31.12.1999) were as follows:
Production (in
million of PCs.)
|
Item |
1999-2000 |
|
Post Cards |
148.128 |
|
Ordinary Envelopes |
22.110 |
|
Registration Envelopes |
10.690 |
|
Inland Letter Cards |
141.520 |
|
Automatic Passport Booklet |
1.432 |
|
Aerogrammes |
12.270 |
|
Non-Judicial and allied stamps |
51.066 |
|
MICR Cheques/IPO/ITRO/Intt. Warrants |
48.759 |
|
Non-MICR Cheques |
9.631 |
|
Misc. Security Items i.e. savings instruments NSC/IVP/KVP/Rly. Warrant |
38.372 |
|
Public/Service/Comm. Postage Stamps (issue sheets) |
37.080 |
|
Non Postal Adhesive Stamps |
5.420 |
|
Passport-Booklets & Vissa-sheets |
3.796 |
|
I. Cards/Security Passes |
3.058 |
The Indian Security Press brought out 59 special commemorative postage
stamps during the period 1999-2000 (upto 31st December, 1999).
Currency Note Press,
The Currency Note Press,
Bank Note Press,
Dewas:
The Bank Note Press consists of two production units viz., Printing
Press and Ink Factory. The Printing
Press prints higher denomination bank notes viz., Rs. 20/-, Rs. 50/-, Rs. 100/-
and Rs. 500/-. The Ink Factory
manufactures security inks, meeting partly the requirements of the security/currency
printing presses.
During the year 1999-2000 the unit produced 2163 million pieces of
notes. Production during 1999-2000 (upto
31.12.1999) was 2086 million pieces.
The Production of the Ink Factory was as follows:
|
Items |
1999-2000 (In M.T.) |
|
Ink and Intermediaries |
141.106 |
|
Finished Ink |
102.586 |
|
Varnishes |
52.441 |
Security Paper
Mill, Hoshangabad:
The Security Paper Mill manufactures bank note paper as well as other
security papers required by other Security Presses. During the year 1998-99, the Mill produced
2913 metric tonnes of paper and during 1999-2000 (upto 31.12.99) 1950 M.T.
Security Printing
Press,
It produces post cards, Inland Letter Cards, Envelopes, Central Excise Stamps
and Non-Judicial Stamps.
Production Achievements are as under:
Production
(in million of pieces)
|
Items |
1999-2000 |
|
Post Cards |
221.90 |
|
Inland Letter Cards |
119.60 |
|
Envelopes |
41.80 |
|
Central Excise Stamps (100 stamps per sheet) |
237.00 |
|
Non-Judicial Stamps |
73.40 |
Mints:
There are five Government Mints at Mumbai, Kolkata,
The targeted production of coins for year 1998-99 was 500 million pieces,
against which Mint produced 511.600 million pieces. The targeted production of coins for the year
1999-2000 is 650 million pieces against which Mint produced 455.7260 Mps upto
31.12.1999.
During the year 1998-99 and 1999-2000, this Mint produced new coins
& Commemorative Coins as under:
|
Year |
Theme |
Sets of |
For Circulation |
|
1998-99 |
125th Birth anniversary of Shri. Aurobindo commemorative
coins |
Rs. 100, Rs.50, Rs. 10 & Rs. 2 |
Rs. 2 |
|
1999-2000 |
Sardar Ballabhbhai Patel-commemorative coins |
Rs. 100, Rs.50, Rs. 10 & Rs. 2 |
Rs. 2 |
|
|
50th year of Independence Commemorative Coins |
Rs. 50 & 50 paise |
50 Paise |
|
|
Shri. Aurobindo commemorative coins |
Rs. 100, Rs. 50. Rs. 10 & Rs. 2 |
Rs. 2 |
|
|
Chhatrapati Shivaji Commemorative coins |
Rs. 100, Rs. 50. & Rs. 2 |
Rs. 2 |
|
|
Golden Jubilee supreme court commemorative coins |
Rs. 50 & Rs. 2 |
Rs. 2 |
Gold Refining: Mumbai Mint has undertaken gold refining & melting
work as detailed below:
|
|
1.4.99 to
31.12.99 (weight in
Grammes) |
|
Refining of Gold |
721,478,600 |
|
Melting |
1,489,950,550 |
|
G.B.S. Alligation |
386,789,450 |
|
Casting |
-- |
|
G.B.S.Casting |
-- |
In addition to above, the Mint is also engaged in the production of
different types of medals, weights and measures. During the year 1998-99, the mint has
delivered 54384 medals and during 1999-2000 (upto 31.12.1999) it had delivered
58303 medals to various parties.
The production of coins of different denominations during 1998-99 was
525.1125 million pieces against target of 500 million pieces. The target for 1999-2000 is 625 million
pieces whereas the actual production (upto 31.12.1999) is 465.3418 million
pieces.
The Mint manufactured 145,796 Medals and delivered 117,021 pieces during
the period 1998-99 to various departments like Ministry of Defence, Home
Affairs etc. The Medals delivered during
1999-2000 are 162,337 pieces and manufactured 189,921 pieces.
During the year 1998-99 the Mint produced 934 sets of Commemorative
coins of Rs. 100, Rs. 50, Rs. 10 and Rs. 2 on 'Netaji Subhash Chandra Bose'.
During the year 1999-2000 (upto 31.12.1999) the Mint also produced 2219
commemorative coins of Rs. 100, Rs. 50, Rs. 10 and Rs. 2 and circulating coin
of Rs. 2 in the commemoration of Netaji Subhash Chandra Bose.
The production achievement of coins of different denominations during
1997-98 was 286.35 million pieces, whereas the production during 1998-99 is
340.5630 million pieces. Actual
production during 1999-2000 (upto 31.12.1999) is 233.7705 million pieces.
The Mint was inaugurated on 20.08.1997.
Production achievements during 1998-99, was 130.1905 million pieces and
during 1999-2000 actual production is 206.2965 million pieces upto 31.12.1999.
During the year 1998-99, the Mint produced 810.421 million pieces of
coins, against the target of 850 million pieces. For the year 1999-2000, the Mint produced
642.59 million pieces upto 31st December, 1999 against target of 900
million pieces.
Action taken to implement the policy statement for control of pollution:
There is no pollution problem.
All sorts of Anti pollution measures have been taken in Mints and
Presses.
administration division
Functions:
Administration Division is responsible for personnel and office
administration of the Department and implementation of official language policy
of the Government by the Department and its attached / subordinate offices.
Staff strength:
The staff strength and the strength of employees as on 31.03.2000 is
given below:
|
Group |
Total No. of
Employees |
Permanent |
Temporary |
|
Group “A” |
259 |
246 |
13 |
|
Other than lowest rung of CI.I |
134 |
128 |
6 |
|
Lowest rung of CI. I |
976 |
962 |
14 |
|
Group “B” (CI.II) |
3827 |
3667 |
160 |
|
Group “C” (CI.II) |
987 |
932 |
55 |
|
Group “D”(Excl. Sweeper) |
293 |
293 |
38 |
|
Group D (Sweepers) Unclassified / Industrial Workmen |
8273 |
7973 |
300 |
Grants-in aid:
During the year 1999-2000 (upto 31.03.2000) (tentatively) the following
amounts are released as Grants-in-aid:-
|
National Council
of Applied Economics Research |
Rs. 500.00 millions |
Annual recurring
grant for meeting part of Administrative Expenses. |
|
|
|
|
|
Indian Economic
Association |
Rs. 0.050 million |
Annual recurring
grant for meeting its expenditure on printing of Indian Economic Journal. |
|
|
Rs. 0.100 million |
Grant for
meeting part expenditure on holding of its Annual Conference |
|
|
|
|
|
Institute for
Social and Economic Change, |
Rs. 10.000 millions |
Corpus Grant |
Website Details :
History
The first Calcutta Mint was established in 1759-60 whose
site is not known. At that time Calcutta Mint was producing coins with
mint-name Murshidabad. In 1790 with the modern machinery brought from
This mint was named as "Silver Mint". At the
starting time the coinage production capacity was varying between 3 lakhs to 6
lakhs pieces per day. In 1860 annexe known as "Copper Mint" was built
to the north of the Silver Mint intended exclusively for copper coinage. Both
Silver Mint and Copper Mint used to function side by side and production
were Bronze, Silver and Gold coins. Both Silver MInt and Copper Mint were well
equiped by the coining presses supplied by Boulton and Watt of Soha,
In the late 1930's it was
decided to build a new Mint at Alipore and the foundation work had been
completed by early 1942. But due to 2nd World War the construction was
interrupted. Later on when the Free India was a child of 5 years, Alipore Mint
was opened by the Hon'ble Finance Minister of Government of India Shree C.D.
Deshmukh on the 19th March, 1952. The full operation for the coinage and
preparation of medals, decorations and badges started in Alipore Mint
from this date.
The
new Mint at
The
Denominations Are
Rupee,
1/2 rupee and 1/4 rupee of Pure Nickel.
Two
annas, One anna and 1/2 anna of Cupro-Nickel.
One
Pice of Bronze.
In 7 the Decimal System was introduced in Indian Coinage.
|
The Production Were of the Following
Denominations: |
||||
|
• Rupee
Coin
|
1962 , 1970 |
Made of Pure Nickel |
||
|
|
From : |
1975 - 1991 |
Cupro Nickel |
|
|
• 50 naye paise and |
|
50 paise |
1960 - 1971 |
Pure Nickel |
|
|
|
50 paise |
1972 - 1990 |
Cupro Nickel |
|
• 25 naye and paise |
|
25 paise |
1957 - 1968 |
Pure Nickel |
|
|
|
25 paise |
1972 - 1990 |
Cupro Nickel |
|
• 10 naye and paise |
|
10 paise |
1957 - 1967 |
Cupro Nickel |
|
|
|
10 paise |
1968 - 1971 |
Aluminium Bronze |
|
|
|
10 paise |
1971 - 1993 |
Aluminium Magnesium |
|
|
|
20 paise |
1968 - 1971 |
Aluminium Bronze |
|
|
|
20 paise |
1983 - 1994 |
Aluminium Magnesium |
|
• 5 naye and paise |
|
5 paise |
1957 - 1966 |
Cupro Nickel |
|
|
|
5 paise |
1967 - 1993 |
Aluminium Magnesium |
|
|
|
3 paise |
1964 - 1971 |
Aluminium Magnesium |
|
• 2 naye and paise |
|
2 paise |
1957 - 1964 |
Cupro Nickel |
|
|
|
2 paise |
1965 |
Aluminium Magnesium |
|
• One naye paisa |
|
|
1957 - 1961 |
Bronze |
|
• One naye paisa & |
|
one paisa |
1962 - 1964 |
Nickel Brass |
|
• One paisa |
|
|
1965 - 1972 |
Aluminium Magnesium |
Presently the Kolkata Mint is producing coins of following
denominations:
|
|
> Rupees 5 of Cupro Nickel |
from 1992 |
|
|
> Rupees 2 of Cupro Nickel |
from 1990 |
|
|
> Rupee 1 of Ferritic Stainless Steel |
from 1992 |
|
|
> 50 paise of Ferritic Stainless Steel |
from 1988 |
|
|
> 25 paise of Ferritic Stainless Steel |
from 1988 |
|
The 10
paise new coin of Ferritic Stainless Steel was in production from 1988 but
discontinued after. |
||
Activities
Besides coinage production, Kolkata Mint produced different
commemorative and development-oriented coins for last several decades, details
of which are annexed. It also worked as a center for issue of gold bars in
exchange of unrefined gold tendered by licensed dealers. This Mint has been
producing medals of various types like Bharat Ratna, Padma Vibhusam, Sena
Medals etc. The medals for defence, Ministry of Home Affairs, educational
institutions, social service, badges, token etc. production of Medallions for
National and International Film Festivals are also the pride of Kolkata Mint.
Major Products and Indenters
|
Regular/Circulated Coins |
RBI |
|
Commemorative Coins |
Ministry of Finance & other |
|
|
Ministries & General Public |
|
Medals |
Central & State Govt. Departments |
|
|
Educational Institutions |
|
Treasuries Tokens |
State Govt. Treasuries |
|
Tokens |
NDDB etc. |
|
Embossing Seals |
Central and State Govt. and |
|
|
various other organisations |
|
Railway Passes. |
Indian Railways |
|
National & International |
Directorate of Film Festivals |
|
|
Film Festival Medals |
The modernisation of Kolkata Mint comprises the installation
of Induction Melting Furnaces, highly efficient Continuous Casting Plant, 4 Hi Cold
Rolling Mill, Strip Milling Machine, Annealing Furnaces, Blanking Presses,
Picking & Polishing Lines, High Speed Coining Presses. All these machines
have been suitably planned in the existing premises after removal of the
obsolete machines as also making substantial production during the phasing of
the old machines. All the auxiliary facilities including its electrics and
water supply systems for these new machines are planned in new building within
the same compound of the Mint.
Being rejuvenated it has been earnestly looking forward for a change for the
last few years to have an equal footing with the changed modernised minting
process available in other advanced countries and to meet growing coinage
demand. Oil fired furnaces in the melting shop have been done away with and
there appeared Induction Furnace. Scheuller coining presses, the most
sophisticated press, have started functioning. The stainless blanking lines for
blanking, counting and packing are making inroads in shop floor, computers to change
the system of existing accounts and administrative work, close circuit TV to
monitor the security. Kolkata Mint is now cherishing while entering into its
Golden Jubilee Year.
Contact
:
|
AUTHORITIES |
CONTACT NUMBER |
|
|
• General Manager |
: |
2401 4821 |
|
• Dy. General Manager |
: |
2401 4042 |
|
• Sr. Works Manager |
: |
2401 4741 |
|
• Works Manager |
: |
2401 0356 |
|
• Financial Advisor & Chief
Administrative Officer |
: |
2401 9944 |
|
• Dy. Chief Assayer |
: |
2401 4157 |
|
• Chief Medical Officer [I/C] |
: |
2401 7618 |
|
• Asst. Director [Cost] |
: |
2401 0572 |
|
• Admn. Officer
[Purchase]/Asst.Director [Official Language] |
: |
2401 4938 |
|
• Pay & Accounts Officer |
: |
2401 7025 |
|
• Silver Refinery Unit |
: |
2238 9777 |
Security Printing and Mining Corporation of India Limited
Units
Units
Security Printing & Minting Corporation of India Ltd.
(SPMCIL), has four Mints, two Note Printing Presses, two Security Printing Presses
and one Security Paper Mill under Ministry of Finance. These Currency units
were departmental organizations under Currency and Coinage Division of the
Department of Economic Affairs, Ministry of Finance, Govt. of India. These nine
units in the country have been has been transferred to Security Printing &
Minting Corporation of India Ltd. (SPMCIL) w.e.f. 10th February, 2006 along
with all assets and liabilities.
These units are:
India
Government Mint, Mumbai (
This Mint was established in the year 1829 which is one of the
oldest mints of the Country. It has got the capacity of minting coins, medals
& further, it is also taken care of refining of Gold and Silver and other metals.
India
Government Mint, Kolkata (
This mint was established in 1952 at Kolkata. Originally different minting
facilities were created in and around Kolkatta in the 18th Century. One of the
mints was modernised in the year 1952 and it was known as Alipore Mint.
Later-on Government of India, renamed it as India Government Mint, Kolkatta.
India
Government Mint, Hyderabad (Andhra Pradesh)
India Government Mint,
India Government Mint, Noida
(Uttar Pradesh)
This Mint was established in the year 1988. The Minting facility at Noida takes
care of the requirement of Coins. This is one of the modern mints in the
Country.
Currency
Note Press, Nasik (
Currency Note Press,
Bank
Note Press, Dewas (Madhya Pradesh)
"ISO:9001 and ISO: 14001 Certified Unit"
Bank
Note Press, Dewas, was established in 1973 and it is notified as commercial
Undertaking under Ministry of Finance. It prints Bank Notes of Rs.20,
Rs.50/-, Rs.100/- and Rs.500/- denominations. This Press also
manufactures high quality security inks for various security printing
organizations.
India
Security Press, Nashik Road (
India Security Press,
Security Printing
Press, Hyderabad (Andhra Pradesh)
This organization was established in the year 1982 and it is notified as
commercial industrial unit under the administrative control of Govt. of India,
Ministry of Finance. It is responsible for printing & supply of low
denomination Non-Judicial Stamp papers, Postal Stamps & Postal Stationery
to Department of Post.
Security Paper
Mill, Hoshangabad (Madhya Pradesh)
Security Paper Mill (SPM), Hoshangabad was established in 1968 and it is
notified as non-commercial undertaking under the administrative control of Govt.
of India, Ministry of Finance. This unit is responsible for manufacturing of
different types of Security Papers.
Profile
Security Printing & Minting Corporation of India Ltd.
(SPMCIL), a wholly owned company of Government of India, has been incorporated
in January 2006 with its HQs in
The main function of the Mints is minting of coins to meet domestic
requirements. High Quality security inks are also manufactured and supplied.
The Assay Departments attached to Mumbai and Kolkata Mints assay gold, silver
and alloys for coins, medals, badges and commemorative coins etc. Mints
Possibilities of taking up export assignments in minting is being explored.
While the note printing presses are involved in printing currency/bank notes,
the security printing presses produce non-judicial stamp papers, postage
stamps, commemorative stamps, postal stationery, travel documents etc. These
units were departmental organisations under Currency and Coinage division of
the Department of Economic Affairs Ministry of Finance, Govt. of India before
their corporatisation in February 2006.
These units are headed by General Managers and assisted by Dy. GM and FA &
CAOs. These are industrial units and come under the purview of factories act
and different labor laws of the country. Significant level of delegation of
powers has been made to GM for better management. However, it was felt that
corporatisation is required to make these units vibrant, accordingly decisions
were taken. These units have been working against a budget hence management
practices of efficiency etc. were not widely known to them. Accounting was done
on cash basis.
There are more than 18,000 employees working in these units. Turn over of these
units is more than Rs. 1,400 crores during financial year 2005-06. Capital base
of the units is more than 800 crores whereas total assets are more than 3,200
crores.
History
SPMCIL though a new entity is composed of units that have a
rich & long history of handling the security printing & minting in the
nation.
|
18th Century- Minting of coins started at Calcutta Mint.
In In 1790 modern machinery was brought from |
|
|
|
1918- British sovereign were minted during 1918 as the
Mint in Mumbai was declared as branch of Royal Mint of London. |
|
|
|
1925 - Printing of postal stationery & stamps started
at Nashik. |
|
|
|
1928 - Printing of currency/bank notes started at Nashik. |
|
|
|
1929 onwards - various other security products added. |
|
|
|
1962 - Re. 1/- printing started at new location |
|
|
|
1967- A Security Paper manufacturing Mill was commissioned
at Hoshangabad(M.P.) |
|
|
|
1974- A new press was established at Dewas (M.P) with
complete range of printing machines to take care of printing of higher
denomination of bank notes using "Intaglio Printing Technology and
Guillotine Machines" for carrying out finishing jobs of processing bank
notes. In Bank Notes Press, Dewas, high quality security inks are also
produced and supplied to various security organizations. |
|
|
|
1980 - Printing of all currency/bank notes shifted to new
location. |
|
|
|
1982- First security printing unit established by
Government of India at |
|
|
|
1988- Government of |
|
|
|
1989 - Low security products |
Scope of Activities
SPMCIL has four Presses, four
Mints and one Paper Mill. Client of two Currency Presses is RBI for currency
notes.
Other clients include State
Governments for Non Judicial Stamp Papers and allied stamps and Dept of Post for
postal stationery, stamps etc.
Security Presses also produce
various security items like cheques for all department of Government of India
& Reserve Bank of India, Demand Draft for Reserve Bank of India and State
Bank of India, passport, visa stickers and other travel documents for the
Ministry of External Affairs (MEA) and Identity Cards and other security
documents for Ministry of Home Affairs and Ministry of Defence, Govt. Of
Passport, visa stickers and
other travel documents are printed for the Ministry of External Affairs (MEA)
and Identity Cards and other security documents for Ministry of Home Affairs
and Ministry of Defence, Govt. Of
Medals and medallions are made for the Government and individuals also.
Security inks manufactured are used by its units and RBI.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.93 |
|
|
1 |
Rs.80.76 |
|
Euro |
1 |
Rs.54.46 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|