MIRA
INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL STEEL AND AGRO INDUSTRIES LIMITED (w.e.f. 08.04.2003) |
|
|
|
|
Formerly Known
As : |
NATIONAL STEEL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
621, Tulsiani
Chambers, 6th Floor,
Nariman Point, Mumbai – 400 021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.01.1985 |
|
|
|
|
Com. Reg. No.: |
11-140379 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.995.102
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27100MH1985PLC140379 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN09355D |
|
|
|
|
Legal Form : |
A Public Limited Liability
company. The company’s shares are listed on the Stock exchange. |
|
|
|
|
Line of Business
: |
Manufacturers and
Marketers of G.P/G.C. Coils/Sheets and C.R. Coils/Sheets. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
621, Tulsiani
Chambers, 6th Floor,
Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22025084 / 22025098 / 22886267 |
|
Fax No.: |
91-22-22025084 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative
Office/ Corporate Office : |
401, Mahakosh House, |
|
Tel. No.: |
91-731-2518167-69
/ 2528133 / 2526020 / (Direct) 5066187 |
|
Fax No.: |
91-731-2516714 / 2527250 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Village Sejwaya,
Tehsil Dhar, District Dhar, |
|
Tel. No.: |
91-7292-277277/277361/277612 |
|
Fax No.: |
91-7292-277393 |
|
|
|
|
Branch Office : |
Located at ·
·
·
Bareily ·
Bhusawal ·
Chennai ·
·
·
·
·
Jaipur ·
·
Kolkata ·
·
Mumbai ·
·
|
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Kailashchandra Shahra |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Santosh Kumar Shahra |
|
Designation : |
Managing Director |
|
Qualification : |
B.E. (Mech.), M.S. ( |
|
Date of
Appointment : |
01.07. 1986 |
|
Previous
Employment |
Ruchi Private Limited, Mumbai |
|
|
|
|
Name : |
Mr.
P. Srikrishna |
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Mr.
Veer Kumar Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Navneet Zalani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Navin Khandelwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok Sharma |
|
Designation : |
Executive Director (w.e.f. 17.12.2010 upto
19.04.2011) |
|
|
|
|
Name : |
Mr. Rajesh Nema |
|
Designation : |
Director (w.e.f. 17.12.2010) |
KEY EXECUTIVES
|
Name : |
Mr. Ashok K. Agarwal |
|
Designation : |
Company Secretary |
|
|
|
|
Audit
Committee : |
·
Mr. Navin Khandelwal - Chairman ·
Mr. Kailashchandra Shahra (upto 14.02.2011) ·
Mr. Navneet Zalani ·
Mr. Ashok Sharma (w.e.f. 14.02.2011 upto 19.04.2011) ·
Mr. Rajesh Nema (w.e.f. 19.04.2011) |
|
|
|
|
Investors’
Grievance Committee : |
·
Mr. Navin Khandelwal - Chairman ·
Mr. P. Srikrishna ·
Mr. Navneet Zalani |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4146899 |
9.32 |
|
|
11622317 |
26.12 |
|
Sub
Total |
15769216 |
35.44 |
|
|
|
|
|
|
2577211 |
5.79 |
|
|
1352000 |
3.04 |
|
Sub
Total |
3929211 |
8.83 |
|
Total
Shareholding of Promoter and Promoter Group (A) |
19698427 |
44.27 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
62200 |
0.14 |
|
|
644498 |
1.45 |
|
Sub
Total |
706698 |
1.59 |
|
|
|
|
|
|
9474430 |
21.29 |
|
|
|
|
|
|
10082649 |
22.66 |
|
|
3504307 |
7.87 |
|
|
1033489 |
2.32 |
|
|
35002 |
0.08 |
|
|
510528 |
1.15 |
|
|
485959 |
1.09 |
|
Trust |
2000 |
-- |
|
Sub
Total |
24094875 |
54.15 |
|
Total Public
Shareholding (B) |
24801573 |
55.73 |
|
Total (A) + (B) |
44500000 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
-- |
- |
|
(1) Promoter and Promoter Group |
-- |
-- |
|
(2) Public |
-- |
-- |
|
Sub Total |
-- |
-- |
|
Total
(A)+(B)+(C) |
44500000 |
-- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 1 lakhBUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Marketers of G.P/G.C. Coils/Sheets and C.R. Coils/Sheets. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Products : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Brand Names : |
'APPU BRAND' |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
31.03.2011 |
|
i) Registered Capacity |
|
|
|
G.P. / G.C. Coils / Sheets |
MTPA |
2,65,000.000 |
|
C.R. Coils / Sheets |
MTPA |
4,00,000.000 |
|
Color Coated Coils / Sheets |
MTPA |
1,00,000.000 |
|
Lead Ingots / Lead Alloy Ingots |
MTPA |
19,500.000 |
|
Aluminium Alloy Ingots |
MTPA |
9,000.000 |
|
ii) Installed Capacity* |
|
|
|
G.P./G.C. Coils/Sheets |
MTPA |
2,10,000.000 |
|
C.R. Coils / Sheets |
MTPA |
3,00,000.000 |
|
Color Coated Coils |
MTPA |
90,000.000 |
|
Lead Ingots / Lead Alloy Ingots |
MTPA |
19,500.000 |
|
Aluminium Alloy Ingots |
MTPA |
9,000.000 |
|
iii) Actual Production |
|
|
|
Galvanised / Coated / Coils / Sheets |
M.T. |
2,24,460.305 |
|
G.P. Coils / Sheets (Jobwork for others) |
M.T. |
0.000 |
|
G.P. Coils / Sheets (Jobwork done by others) |
M.T. |
34,334.312 |
|
Color Coated Coils / Sheets |
M.T. |
93,435.388 |
|
Color Coated Coils / Sheets (Jobwork for others) |
M.T. |
0.000 |
|
C.R. Coils / Sheets |
M.T. |
2,91,003.304 |
|
C.R. Coils (Jobwork for others) |
M.T. |
3,709.765 |
|
Aluminium Alloy Ingots |
M.T. |
1,683.265 |
|
Pure Lead Ingots |
M.T. |
1,211.406 |
|
Lead Alloy Ingots |
M.T. |
1,295.550 |
*As certified by the Management and relied
upon by the Auditors, being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
State
Bank of ·
State
Bank of ·
State
Bank of Saurashtra ·
State
Bank of Travancore ·
Bank
of ·
United
Bank of ·
Andhra
Bank ·
Societe
Generale ·
Oriental
Bank of Commerce ·
State
Bank of ·
Central
Bank of ·
IDBI Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
NOTES: 1. Term loans
from Financial Institutions are secured by way of first mortgage of all
immoveable properties and hypothecation of all the Company’s movables (save and
except book debts and stocks) including movable Machinery, Spares and Tools
both present and future ranking pari passu inter-se subject to prior charge
created/to be created in favour of the Banks on specified movable assets for
securing borrowings for working capital requirements and personal guarantee
of the Managing Director. 2. Loans from
Banks for working capital are secured by hypothecation of Company’s entire
Stocks of Raw materials, Stock-in-process, Finished goods, Stores and Spares,
Stock in transit, other current assets and second charge over entire fixed
assets of the Company ranking pari-passu inter-se and personal guarantee of
the Managing Director.
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manoj Khatri and
Company Chartered
Accountants |
|
Address : |
|
|
|
|
|
Associates : |
·
Ruchi
Private Limited ·
Ruchi
Soya Industries Limited ·
M. P.
Glychem Industries Limited |
|
|
|
|
Subsidiaries : |
· NSIL Infotech Limited · NSIL Power Limited · Shahra Brothers Private Limited ·
Ruchi Integrated Steels ( · Ruchi Power Corporation Limited · NSIL Exports Limited · Shri Mahadeo Shahra Sukrat Trust · NSIL Finance Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
44500000 |
Equity Shares |
Rs.10/- each |
Rs.445.000
millions |
|
5550000 |
4% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.555.000
millions |
|
|
Total |
|
Rs.1000.000 millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
44500000 |
Equity Shares |
Rs.10/- each |
Rs.445.000
Millions |
|
5501022 |
4% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.550.102 |
|
|
Total |
|
Rs.995.102 millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
44500000 |
Equity Shares |
Rs.10/- each |
Rs.445.000
Millions |
|
5501022 |
4% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.550.102
Millions |
|
11897058 |
Share Warrants issued
at Rs.23.65 per Warrant convertible into 1,18,97,058 Shares at Rs.23.65 per
share including premium Rs.13.65 per share |
|
NIL |
|
|
Total |
|
Rs.995.102 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
995.102 |
946.473 |
876.132 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1532.993 |
1073.938 |
849.716 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2528.095 |
2020.411 |
1725.848 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2602.532 |
2276.947 |
1791.874 |
|
|
2] Unsecured Loans |
645.807 |
609.022 |
814.449 |
|
|
TOTAL BORROWING |
3248.339 |
2885.969 |
2606.323 |
|
|
DEFERRED TAX LIABILITIES |
333.688 |
345.341 |
352.161 |
|
|
|
|
|
|
|
|
TOTAL |
6110.122 |
5251.721 |
4684.332 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1889.576 |
1876.507 |
2065.735 |
|
|
Capital work-in-progress |
122.145 |
76.431 |
27.664 |
|
|
|
|
|
|
|
|
INVESTMENT |
27.940 |
27.940 |
27.940 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4789.993
|
4148.656
|
3102.179
|
|
|
Sundry Debtors |
3137.639
|
2732.854
|
2584.740
|
|
|
Cash & Bank Balances |
600.121
|
375.910
|
368.622
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
631.097
|
352.868
|
428.004
|
|
Total
Current Assets |
9158.850
|
7610.288
|
6483.545 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4723.985 |
4035.397 |
3633.263 |
|
|
Other Current Liabilities |
323.321
|
278.304
|
261.545 |
|
|
Provisions |
41.083
|
25.744
|
25.744
|
|
Total
Current Liabilities |
5088.389
|
4339.445
|
3920.552 |
|
|
Net Current Assets |
4070.461
|
3270.843
|
2562.993 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6110.122 |
5251.721 |
4684.332 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
25387.820 |
22320.959 |
21209.288 |
|
|
|
Other Income |
88.373 |
86.020 |
28.122 |
|
|
|
TOTAL (A) |
25476.193 |
22406.979 |
21237.410 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
23003.438 |
20180.076 |
18110.141 |
|
|
|
Manufacturing, Selling, Administrative & Other expenses |
1464.584 |
1489.074 |
1728.371 |
|
|
|
Employees’ Remuneration & Benefits |
276.469 |
211.470 |
197.515 |
|
|
|
Income/(Expenses) relating to prior Period (Net) |
0.499 |
1.703 |
0.584 |
|
|
|
Increase or decrease in stock |
(617.720) |
(686.782) |
1166.930 |
|
|
|
TOTAL (B) |
24127.270 |
21195.541 |
21203.541 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1348.923 |
1211.438 |
33.869 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
776.878 |
760.834 |
755.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
572.045 |
450.604 |
(721.306) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
178.263 |
177.363 |
171.772 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F) (G) |
393.782 |
273.241 |
(893.078) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
71.378 |
23.275 |
(2.251) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
322.404 |
249.966 |
(890.827) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
514.630 |
290.408 |
1206.979 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Preference Shares |
22.004 |
22.004 |
22.004 |
|
|
|
Tax on Dividend |
3.740 |
3.740 |
3.740 |
|
|
BALANCE CARRIED
TO THE B/S |
811.290 |
514.630 |
290.408 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings (Export of
Galvanised/ Prepainted/ Coated Plain/ Corrugated Sheets/ Coils, Cold Rolled
Coils and Others) |
4296.397 |
3421.356 |
5664.785 |
|
|
TOTAL EARNINGS |
4296.397 |
3421.356 |
5664.785 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2341.667 |
4275.211 |
2031.162 |
|
|
|
Plant and Machinery and Consumables |
9.629 |
30.701 |
68.755 |
|
|
|
Traded Goods |
3221.418 |
3327.475 |
2401.418 |
|
|
TOTAL IMPORTS |
5572.714 |
7633.387 |
4501.335 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.06 |
6.88 |
(28.11) |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 |
30.09.2011 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
6807.600 |
6324.500 |
|
Total Expenditure |
|
6398.500 |
5945.200 |
|
PBIDT (Excl OI) |
|
409.100 |
379.300 |
|
Other Income |
|
0.000 |
0.000 |
|
Operating Profit |
|
409.100 |
379.300 |
|
Interest |
|
259.000 |
239.000 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
150.100 |
140.300 |
|
Depreciation |
|
44.600 |
44.900 |
|
Profit Before Tax |
|
105.500 |
95.400 |
|
Tax |
|
16.100 |
13.400 |
|
Provisions of Contingencies |
|
0.000 |
0.000 |
|
Profit after tax |
|
89.400 |
82.000 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
89.400 |
82.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.27
|
1.12
|
(4.19)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.55
|
1.22
|
(4.21)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.56
|
2.88
|
(10.45)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.14
|
(0.52)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.30
|
3.58
|
3.78
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.75
|
1.65
|
LOCAL AGENCY FURTHER INFORMATION
MANAGEMENT DISCUSSION AND ANALYSIS
Industry Structure
and Developments
Opportunities and
Threats
The Indian steel
industry has had a decent growth due to buoyancy in sectors such as
infrastructure and construction, oil, gas and automobiles. The demand for steel
is expected to get a boost with major international automobile manufacturer setting
up factories in
Out Look
The prospects of
domestic steel market is supposed to look up given the gross domestic
production (GDP) growth projection at 7.75% to 8.25%. The spiraling inflation
and the measures taken to control the inflation are likely to act as dampener.
The steel industry is facing issues of cost pressure and dwindling margins.
Developed world recovery to stay muted due to on-going deleveraging and fiscal
constraint.
Metal Division
This year NSAIL
have diversified into Recycling of Aluminum and Lead scrap for production of
Aluminum alloys and pure Lead and Lead Alloys. Since Aluminum does not lose any
of its important properties or damage the metal’s structure it can then be
recycled indefinitely. Interestingly, the recycling of scrap aluminum requires
only 5% of the total amount of energy that is used for making new Aluminum. In
almost all the advanced countries of the world, approximately 31% of all
Aluminum products produced come from recycled scrap. Careful preservation and
protection and management of their natural resources will help sustain their
environment for future generations.
Environment
Friendly
By recycling
batteries they may be keeping in compliance with current environmental
regulations, managing their waste stream properly and limiting their exposure
to liability and setting good example for everyone to keep their environment
healthy. By any measure, Lead-acid batteries and the environment are one of the
environmental success stories of their lifetime. More than 98 percent of all
battery Lead and plastic is recycled, making the Lead-Acid Battery the recycled
Leader of all consumer products. The life cycle of a Lead-Acid Battery follows
a continuous, closed loop. The typical new Lead-Acid Battery is made with 60 to
80 percent recycled Lead and plastic. When a spent battery is collected and
returned to a permitted recycler, it’s Lead and plastic are reclaimed and
directed to new battery manufacturing. Recycled lead is cheaper to produce than
virgin lead. Recycled lead takes less than 25% of the energy required to
produce lead from ore extraction. Production of Aluminum alloys and pure Lead
and Lead alloys has started successfully and Quality has been established. They
are regularly supplying to Luminous, Tudor, TAFE and some auto ancillaries.
Discussion on
Financial Performance with respect to Operational Performance
The Company’s top
line performance was better than last year. The Company achieved turnover of
Rs.26352.400 Millions as against Rs.23037.000 Millions for the corresponding
previous year. The Company did fairly theyll on export front and achieved
export turnover of Rs.5451.200 Millions as compared to Rs.4528.800 Millions for
the corresponding previous year registering a growth of 20.36%. The Financial
performance with respect to the Operational performance during the year was
reasonably good. 26.58% increase in Gross Profit over the Previous Year i.e.
from Rs.452.300 Millions to Rs.572.500 Millions indicates the same. The Company
achieved Profit after tax of Rs.322.400 Millions as against that of Rs.250.000
Millions for the correspondence previous year registering a growth of 28.97%.
The Company did fair in Agro Segment also during the year. The Directors are
confident to improve this performance in the current Financial Year.
CONTINGENT
LIABILITIES NOT PROVIDED FOR
|
Particulars |
31.03.2010 (Rs. in millions) |
|
a) Outstanding Bank Guarantees |
293.281 |
|
b) Disputed Liabilities not acknowledged as debts |
15.983 |
|
c) Estimated amount of contracts remaining to be Executed on Capital
Account (net of advance) |
28.859 |
|
|
|
FIXED
ASSETS
·
Land
·
Buildings
·
Plant
and Machinery
·
Furniture
and Fixture
·
Office
Equipments
·
Vehicles
·
Computer
WEB
DETAILS
HISTORY
Introduction
stage (1987-95)
These were their initial years. Continuous Galvanizing line
started production from 19th Nov. 1987. This line was supplied by CMI, Belgium
Stein Heurty,
They wrote a new lesson in their book with the production of
Cold Rolled started in CRM in 1994. Their Power Plant started Power Generation
from 1995.
Development
Stage (1995-2003)
Their relentless quest for excellence has reaped rich
benefits and they were on the development path. Their achievements narrate a
story of their determination to succeed and their passion to win. they
accelerated the production in their existing plans. Apart from this they came
with new establishments. From 25th April 1995 CGL 2 started production and line
was commissioned for thin and full hard material. Their innovations are admired
beyond the geographical boundaries of their country and they started their
export production for USA GI market from May 2002. From 2003 NSAIL export
reached up to 85% of its production.
Growth
Stage (2003-Till Date)
By this time they had reached at a highly mature level of
operation. On 11th May 2003 NSAIL completed One Million Ton production of GI
since commissioning. In Jan 2004 CGL1 changed the technology of production from
DAGAL to NONOX with online SPM and Leveller. From Oct. 2004 Second rolling mill
was commissioned in CRM complex.
From 22nd March 2004 NSAIL had started colour coating line.
CGL 2 enhanced its capacity in 2005. The company today, has come a long way
from a single factory establishment, started in 1987.
Today they are the largest steel producer in
COMPANY
PROFILE
National Steel and Agro Industries Ltd (NSAIL), the leading
manufacturer and exporter of central
NSAIL, The public limited company was set up on 9th Jan 1985
has grown over Rs 2300 Cr. / 23 billion value turnover and 3,50,000 Mt
Galvanised Steel (200 Mt, PPGI 100 Mt and CR Full Hard 50 Mt) Volume turn over in
the financial year 2009-10. It has PAN India presence through it’s 25 branches
and warehouses. Due to continue expansion, technological up-gradation and
premium quality products made it possible to cater global market. Their
products are well established in the
With consistent export achievements, they have gained the
status of Star Trading House in exports.
NSAIL’s “state –of- the- art” factory located at sejwaya,
Ghatabillod (dist. Dhar, M P) covers 70 acres land for various production unit
(flat steel, metal division – aluminum and lead alloys, power unit, etc). The
plant is backed by own power unit, equipped with world class technology of CMI
The company is also an internationally oriented trading
organization. It utilizes technical and professional expertise available
in–house for global sourcing and vendor development, the division has been
successfully trading in a diverse range of high quality agricultural products
namely pulses and beans and registered as a strong pillar of the company.
In their trading division (Agro products) their global
experience enables us to provide best advice to their customers and offer them
a vide variety of products. They are extensively dealing in commodities ranging
from Burmese origin, toor whole, green mung, beans (polished and unpolished),
black matpe, urad bean, red kidney beans, black eye beans, yellow maize and sesame
seeds. They are also dealing in Indian origin red spilt lentils (masoor dal),
moong dal (husked and unhusked), channa dal and toor dal.
The products bought by us are carefully selected,
scientifically inspected and meticulously packed according to international
quality standards. They are poised for making great strides in trading of
pulses.
NSAIL - Metal Division is an emerging manufacturer or
recycler of Aluminum Alloy, Pure Lead, and Refined Lead and Lead Alloy Ingots.
The Main strength is efficiency of Aluminum scrap recycling process to meet
customer specification. NSAIL has made a mark by offering worldwide recognized
products that meets the international standards.
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 records 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.53.21 |
|
|
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.69.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.