1. Summary Information
|
|
|
Country |
|
|
Company Name |
Mazagon Dock Limited |
Principal Name 1 |
Mr.
Harisimransingh Malhi |
|
Status |
Good |
Principal Name 2 |
Mr. Gyanesh Kumar |
|
|
|
Registration # |
11-2079 |
|
Street Address |
Dockyard Road, Mumbai – 400 010, |
||
|
Established Date |
26.02.1934 |
SIC Code |
-- |
|
Telephone# |
91-22-23775562 (20 Lines)/ 23781561/
23713451/ 23730660/ 23726293 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-23738338/ 23738340/ 147/ 8228/ 333 /151/
23725043 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Offshore Platform Fabrication |
|
|
# of employees |
8500 (Approximayely) |
Product Name 2 |
Ship Construction |
|
Paid up capital |
Rs. 2,239,440,000/- |
Product Name 3 |
Ship Repairs and General Engineering |
|
Shareholders |
Government (Central and
State) - 99.99% Directors or relatives of directors - 0.01% |
Banking |
Bank
of |
|
Public Limited Corp. |
No |
Business Period |
76 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Aa (72) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
71,270,307,000 |
Current Liabilities |
160,729,257,000 |
|
Inventories |
96,748,254,000 |
Long-term Liabilities |
198,426,000 |
|
Fixed Assets |
1,137,299,000 |
Other Liabilities |
2,827,000 |
|
Deferred Assets |
0 |
Total Liabilities |
160,930,510,000 |
|
Invest& other Assets |
1,575,611,000 |
Retained Earnings |
7,561,521,000 |
|
|
|
Net Worth |
9,800,961,000 |
|
Total Assets |
170,731,471,000 |
Total Liab. & Equity |
170,731,471,000 |
|
Total Assets (Previous Year) |
168,606,500,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
28,561,300,000 |
Net Profit |
2,401,900,000 |
|
Sales(Previous yr) |
25,689,300,000 |
Net Profit(Prev.yr) |
2,707,300,000 |
MIRA INFORM
REPORT
|
Report Date : |
29.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAZAGON DOCK LIMITED |
|
|
|
|
Registered Office : |
Dockyard Road,
Mumbai – 400 010, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
26.02.1934 |
|
|
|
|
Com. Reg. No.: |
11-2079 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U35100MH1934GOI002079 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM00118G |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of
Warships and Submarines. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 39203844 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a union government company. It is a well established and a reputed
company having fine track. The lenders and creditors can be confident of
their exposures in the company, subject being a government company. Financial
position of the company. Appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Nitin Patil |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-22-23775562 |
|
Date : |
06.01.2011 |
LOCATIONS
|
Registered/
Corporate Office : |
Dockyard Road,
Mumbai – 400 010, |
|
Tel. No.: |
91-22-23775562 (20
Lines)/ 23781561/ 23713451/ 23730660/ 23726293 |
|
Fax No.: |
91-22-23738338/
23738340/ 147/ 8228/ 333 /151/ 23725043 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Guest House: |
Angre House, MDL,
|
|
Tel. No.: |
91-22-2373 8337 /
2372 5043 |
|
|
|
|
Zonal /Abroad Office At |
C/o. Indian High Commission,
India House, Aldwaych London WC2B 4NA, U. K. Contact Person:
Mr. A. K. Ahuja - Regional Chief Manager
( Tel. No. (44) 71
836 7275 / (44) 81 572 2474 (Res.) Fax No. (7095)
917127 Embassy of Contact Person
:Cdr. H. C. Dhamija (FS), Tel. No. (7095)
9171127 / 99(7095) 9520978 Fax No. (7095)
9171127 |
|
|
|
|
Resident
Representatives at |
Room No. 8N, H
Block Annexe, DHQ PO Contact Person:
Mr. Yogesh Sharma - Regional Manager Tel. No.
91-11-2379 3776 / 2247 4352 (Res.) |
|
|
|
|
Regional
Office: |
Shipyard House,
A1/314, Safdarjung Enclave, New Delhi-110 029, |
|
Tel No: |
91-11-26100972 /
26108941 |
|
Fax No: |
91-11-26108940 |
|
|
|
|
Regional
Office: |
First Secretary
(MDL), |
|
Tel No: |
007-095-9358689 |
|
Fax No: |
007-095-9171127 |
|
|
|
|
Branch Office
: |
Located at ·
·
|
DIRECTORS
As on : 21.09.2010
|
Name : |
Mr.
Harisimransingh Malhi |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
16, Currie House,
Mazagon Dock Officers Colony, |
|
Date of
Birth/Age : |
02.01.1952 |
|
Date of
Appointment : |
20.10.2008 |
|
|
|
|
Name : |
Mr. Gyanesh Kumar
|
|
Designation : |
Director |
|
Address : |
C-II, 8-2, Sector 13, A Block R.K. Puram, |
|
Date of Birth/Age : |
27.01.1964 |
|
Date of Appointment : |
31.12.2007 |
|
|
|
|
Name : |
Mrs. Anuradha
Mitra |
|
Designation : |
Director |
|
Address : |
I – 1711, |
|
Date of Birth/Age : |
15.03.1960 |
|
Date of Appointment : |
20.10.2005 |
|
|
|
|
Name : |
Mr. Prem Kumar
Kataria |
|
Designation : |
Director |
|
Address : |
8206, Sector B-Date of Birth/Age X, Vasant
Kunj, New Delhi – 110070, Delhi, India |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
12.07.2010 |
|
|
|
|
Name : |
Mr. Sesha Charya
S.V. |
|
Designation : |
Whole Time
Director |
|
Address : |
15, Currie House,
Mdl Officers Qtrs, |
|
Date of Birth/Age : |
02.06.1951 |
|
Date of Appointment : |
23.03.2007 |
|
|
|
|
Name : |
Mr. Gopal Bharti |
|
Designation : |
Whole Time
Director |
|
Address : |
11, Currie House,
Mdl Officers Qtrs, |
|
Date of Birth/Age : |
15.12.1953 |
|
Date of Appointment : |
09.09.2008 |
|
|
|
|
Name : |
Mr. Rao G. A. R. |
|
Designation : |
Whole Time
Director |
|
Address : |
14, Currie House,
Mdl Officers Qtrs, |
|
Date of Birth/Age : |
26.01.1952 |
|
Date of Appointment : |
28.01.2009 |
|
|
|
|
Name : |
Mr. Bajaj Rakesh |
|
Designation : |
Whole Time
Director |
|
Address : |
12, Currie House, Mdl
Officers Qtrs, |
|
Date of Birth/Age : |
15.06.1953 |
|
Date of Appointment : |
16.12.2009 |
|
|
|
|
Name : |
Mr. Prabhakaran
P. |
|
Designation : |
Whole Time
Director |
|
Address : |
Currie House, Mdl
Officers Qtrs, |
|
Date of Birth/Age : |
17.11.1949 |
|
Date of Appointment : |
01.09.2006 |
|
Date of Ceasing : |
30.11.2009 |
|
|
|
|
Name : |
Mr. Murthi M K |
|
Designation : |
Director |
|
Address : |
B-1, 406 Shobha Opel, 39 Cross 18 Main 39X, Jayanagar T Block,
Banaluru, Karnataka - 560041 |
|
Date of Birth/Age : |
08.02.1945 |
|
Date of Appointment : |
15.09.2006 |
|
Date of
Ceasing : |
15.09.2009 |
|
|
|
|
Name : |
Dr. Pachuri S.K. |
|
Designation : |
Director |
|
Address : |
T-4-202, Parsvanath, Trestige Ii, Sector – 934, Noida, |
|
Date of Birth/Age : |
25.08.1944 |
|
Date of Appointment : |
15.09.2006 |
|
Date of Ceasing : |
15.09.2009 |
|
|
|
|
Name : |
Mrs. Mitra Anuradha |
|
Designation : |
Director |
|
Address : |
I – 1711, |
|
Date of Birth/Age : |
15.03.1960 |
|
Date of Appointment : |
20.10.2005 |
|
Date of Ceasing : |
29.04.2010 |
|
|
|
|
Name : |
Mr. Saiyanarayan K. |
|
Designation : |
Director |
|
Address : |
227, Anuradha 15 Main 27, Cross BSK II Stage, Bangalore – 560070,
Karnataka, India |
|
Date of Birth/Age : |
19.12.1941 |
|
Date of Appointment : |
18.04.2007 |
|
Date of Ceasing : |
29.04.2010 |
|
|
|
|
Name : |
Mr. Selvaraj E.S. |
|
Designation : |
Secretary |
|
Address : |
4, Sarin House, Mdl Officers Qtrs, |
|
Date of Birth/Age : |
03.06.1956 |
|
Date of Appointment : |
17.04.2007 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Enkandigai Sreenivasan Selvaraj |
|
Designation : |
Secretary |
|
Address : |
4, Sarin House, Mazagon
Dock Officers Colony, |
|
Date of Birth/Age : |
03.06.1956 |
|
Date of Appointment : |
17.04.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 21.09.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
President of |
|
19919995 |
|
Rajkumar Singh |
|
1 |
|
Gyanesh Kumar |
|
2 |
|
Prem Kumar Kataria |
|
1 |
|
H.S. Malhi |
|
1 |
|
|
|
|
|
Total |
|
19920000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
President of |
|
2474400 |
|
|
|
|
|
Total |
|
2474400 |
As on : 21.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Government (Central and State) |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer of
Warships and Submarines. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
||||||||||||
|
|
|
||||||||||||
|
Exports : |
|
||||||||||||
|
Products : |
Slide Valves, Solenoid Valves |
||||||||||||
|
Countries : |
|
||||||||||||
|
|
|
||||||||||||
|
Imports : |
|
||||||||||||
|
Products : |
Steel Plates |
||||||||||||
|
Countries : |
|
||||||||||||
|
|
|
||||||||||||
|
Terms : |
|
||||||||||||
|
Selling : |
Cash |
||||||||||||
|
|
|
||||||||||||
|
Purchasing : |
Cash |
PRODUCTION
STATUS (As On 31.03.2010)
(Actual Production )
: as complied by the management
|
Particulars |
Actual Production |
|
Ships delivered |
3 |
|
Ships under
construction |
7 |
|
Submarine repair |
1 |
|
Submarine under
construction |
5 |
GENERAL INFORMATION
|
Customers : |
Government Bodies
End Users OEM’s |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of
Employees : |
8500
(Approximayely) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Bank of ·
Canara
Bank, ·
State Bank of |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
G.P. Kapadia and
Company Chartered
Accountants |
|
Address : |
Hamam House,
Ambalal Doshi Marg, Mumbai – 400 001, |
|
|
|
|
Associates/Subsidiaries
: |
All Government of
India Undertaking Companies |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity shares |
Rs.100/- each |
Rs.2000.000 millions |
|
12372000 |
7 % Redeemable Cumulative Preference shares |
Rs.100/- each |
Rs.1237.200 millions |
|
|
Total |
|
Rs.3237.200
millions |
|
|
|
|
|
Issued & Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19920000 |
Equity shares |
Rs.100/- each |
Rs.1992.000 millions |
|
2474400 |
7 % Redeemable Cumulative Preference shares |
Rs.100/- each |
Rs.247.440 millions |
|
|
Total |
|
Rs. 2239.440
Millions |
|
|
|
|
|
Note :
Of the above 17996 shares previous Years 17996
Shares are allotted as fully paid up, pursuant to a contract without payment
being received in cash.
All the above 19920000shares (previous year
19920000 shares are held by the president of
All the above
2474400 shares (previous year 4948800 shares) are held by the president of
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2239.440 |
2486.900 |
2734.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7561.521 |
5769.000 |
3691.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9800.961 |
8255.900 |
6426.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
198.426 |
213.300 |
220.600 |
|
|
TOTAL BORROWING |
198.426 |
213.300 |
220.600 |
|
|
DEFERRED TAX LIABILITIES |
2.827 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10002.214 |
8469.200 |
6646.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1137.299 |
878.600 |
803.500 |
|
|
Capital work-in-progress |
1515.603 |
839.000 |
356.300 |
|
|
|
|
|
|
|
|
INVESTMENT |
60.008 |
60.000 |
60.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
10.800 |
1.200 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
96748.254 |
99647.800 |
68768.100 |
|
|
Sundry Debtors |
3581.551 |
106.600 |
141.800 |
|
|
Cash & Bank Balances |
25520.188 |
31309.200 |
39932.500 |
|
|
Other Current Assets |
1117.964 |
0.000 |
0.000 |
|
|
Loans & Advances |
41050.604 |
35754.500 |
33732.700 |
|
Total
Current Assets |
168018.561 |
166818.100 |
142575.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1823.021 |
301.100 |
137149.300 |
|
|
Sundry Creditors |
157796.000 |
158889.500 |
NA
|
|
|
Provisions |
1110.236 |
946.700 |
NA
|
|
Total
Current Liabilities |
160729.257 |
160137.300 |
137149.300 |
|
|
Net Current Assets |
7289.304 |
6680.800 |
5425.800 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
10002.214 |
8469.200 |
6646.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
28561.300 |
25689.300 |
23216.600 |
|
|
|
Other Income |
2272.000 |
3232.000 |
2881.200 |
|
|
|
TOTAL (A) |
30833.300 |
28921.300 |
26098.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of raw material. Stones, equipments, spare parts etc. |
12902.400 |
10760.100 |
12048.400 |
|
|
|
Sub Contact |
5997.600 |
7756.700 |
5626.600 |
|
|
|
Power and fuel |
132.800 |
149.100 |
130.900 |
|
|
|
Salaries and Wages |
5140.700 |
3813.700 |
2879.800 |
|
|
|
Expenses directly related to projects |
1110.100 |
1650.900 |
946.700 |
|
|
|
Other expenses |
1100.100 |
752.500 |
539.100 |
|
|
|
Provision made during the year |
486.100 |
3.600 |
65.100 |
|
|
|
Transferred to Fixed assets |
(20.100) |
(19.700) |
(36.800) |
|
|
|
Previous Years Adjustments |
(3.000) |
(1.000) |
3.500 |
|
|
|
TOTAL (B) |
26846.700 |
24865.900 |
22203.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3986.600 |
4055.400 |
3894.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.200 |
0.400 |
14.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3986.400 |
4055.000 |
3880.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
121.700 |
82.200 |
73.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3864.700 |
3972.800 |
3807.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1462.800 |
1265.500 |
1398.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2401.900 |
2707.300 |
2408.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
228.700 |
199.000 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1500.000 |
1800.000 |
|
|
|
|
Transfer to capital redemption reserves |
247.400 |
247.400 |
NA |
|
|
|
Proposed Dividend Equality Shares |
498.000 |
498.000 |
|
|
|
|
Preference Shares |
24.600 |
40.700 |
|
|
|
BALANCE CARRIED
TO THE B/S |
273.800 |
228.700 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Ship Construction |
Nil |
344.300 |
NA |
|
|
TOTAL EARNINGS |
NIL
|
344.300 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials including machinery, equipments and components for
construction of ships, submarine, repairs and other production jobs. |
14181.300 |
4332.700 |
NA |
|
|
TOTAL IMPORTS |
14181.300 |
4332.700 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
119.14 |
133.52 |
117.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.78 |
9.36 |
9.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.53 |
15.46 |
16.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.28 |
2.37 |
2.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.48 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
16.41 |
19.42 |
21.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.04 |
1.04 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL HIGHLIGHTS:
_ The Value of
Production for the Financial Year 2009-10 is Rs.28561.300 millions as against
Rs.25689.300 millions in the previous year. The company during the year 2009-10
has surprised its past achievements in respect of Value of Production.
_ The profit
before tax is Rs.3864.700 millions for the 2009-10 as against Rs.3972.800
millions in the previous year. The operating profit for 2009-10 is Rs. 1592.700
millions as against Rs. 740.800 millions in the previous year.
Form : 8
|
Name of the company |
MAZAGON DOCK LIMITED |
|
Presented By |
Canara Bank, |
|
1) Date and description of instrument creating the change |
Deed of
Hypothecation Re-Machinery dated 30.11.2000. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.525.000
millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
all present and future plant, machinery, tools and accessories viz. various
cranes of the company’s ship building division and off shore division kept,
parked, erected at various places. |
|
04) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 12.25%
p.a. with quarterly rests. In case of
default interest at overdue rate 2% p.a. The term loan is
repayable in 24 quarterly yearly installments commencing from 14.03.2001, and
ending on 14.12.2006. The first 23
installments shall be of Rs.21.900 millions and the last i.e. 24th
installment shall be of Rs.21.300 millions.
|
|
5) Name and Address and description of the person entitled to the charge. |
Canara Bank, |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80024486 |
|
Corporate
identity number of the company |
U35100MH1934GOI002079 |
|
Name of the
company |
MAZAGON DOCK LIMITED |
|
Address of the
registered office or of the principal place of business in |
Dockyard Road,
Mumbai – 400 010, |
|
Type of charge |
Book Debts Movable Property Others (Current
Assets and Movable Property) |
|
Particular of
charge holder |
State Bank of E-Mail: tridib_n@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Forth
Supplemental Joint Hypothecation Deed Dated 12-12-2008 Fourth
Supplemental to Working Capital Consortium Agreement Dated 12-12-2008 |
|
Date of
instrument Creating the charge |
12/12/2008 |
|
Amount secured by
the charge |
Rs.24000.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 1.25% above SBAR
present effective rate 14% p.a. with monthly rests. Terms of
Repayment: On Demand Margin: Raw Materials
-25% Work in Process -
25% Finished Goods -
25% Stores and Spares
- 25% Book Debts - 25% Letters of Credit
- NIL Bank Guarantees -
NIL Extent and
Operation of the charge: 1.25% above SBAR
present effective rate 14% p.a. with monthly rests. |
|
Date of instrument creating or evidencing the charge |
12/12/2008 |
|
Date of acquisition of the property |
12/12/2008 |
|
Amount of the charge |
Rs.24000.000 millions |
|
Short particulars
of the property charged |
The whole of the
currents assets of the borrower namely stocks of raw materials stock in
process semi finished and finished goods, stores and spares not relating to
plant and machinery bills receivables and book debts and all other movables
both present future lying loose or stored at factory premises goodowns at
Mumbai or in transit or on high seas or on order or delivery howsoever and
wheresoever in the possession of the company and substitution or additions
except inventory of Indian Navy. |
|
Date of latest
modification prior to the present modification |
09/02/2007 |
|
Particulars of
the present modification |
The aggregate limit
of the aforesaid credit facilities has been increased from Rs.18520.000
millions to Rs.24000.000 millions on the terms and conditions mentioned in
the Fourth Supplemental Joint Hypothecation and Working Capital Consortium
Deeds. |
Fixed Assets :
- Staff
Quarters
- Buildings
Berths
- Other Civil
Works
- Plant and
Machinery
- Vehicles
- Furniture,
fittings, EDP and Office Equipments
- Launches and
Boats
- Other
intangible Assets
WEB DETAILS
PROFILE
Subject is the
Repair work is also under taken using the available
facilities. The Company has qualified manpower to implement
CAD/CAM/CIM using the latest ship design software’s, operating from a number of
work stations having the latest computer hardware to provide, up to date design
and production support, commensurate with for the yard’s capabilities.
The workforce is well trained various
disciplines. Regular training programmes keep the men technologically abreast
of the latest techniques of their profession.
INTRODUCTION
Subject, Mumbai, an ISO 9001:2000 Company is one of the leading
shipbuilding and offshore fabrication yards in
After its takeover
by the Government in 1960, Subject grew rapidly to become the premier
war-shipbuilding yard in
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. 45.74 |
|
|
1 |
Rs. 72.73 |
|
Euro |
1 |
Rs. 62.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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.