MIRA
INFORM REPORT
|
Report Date : |
31.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
NCL INDUSTRIES LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.09.1979 |
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Com. Reg. No.: |
11-002521 |
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CIN No.: [Company Identification
No.] |
L33130AP1979PLC002521 |
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|
Legal Form : |
A Closely Held Public Limited Liability Company. The Company Shares
Listed to The Stock Exchange. |
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Line of Business
: |
Distributions and Generation of Hydel Power |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5500000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Financial position of the company appears to be sound. Trade relations
are reported to be sound. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct and as per commitments. The concern 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-40-23204243 / 23202415 / 23203637 / 23202548 |
|
Fax No.: |
91-40-23202496 / 23202417 |
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E-Mail : |
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Cement Division : |
·
Door No: 50-48-13,
P&T colony, Sitammadhara, Visakhapatnam – 530 013. ·
Door No: 39-14-4,
Opp. Magna, Datti Simhadri Street, Labbipet, ·
Sri Lakshmi Nilayam, Ramalayam Back
Side Street, Vaddigudem Road, ·
2nd Floor, Precision Plaza, 281, Anna
Salai, Teynampet, Chennai – 600018. ·
C/o. Harika Agency, Door No. 3, ·
10th Floor, Unity Buildings, JC Road,
Bangalore - 560002. |
|
|
|
|
Board Division : |
·
10th Floor, ·
Cabin No: 13, Second
Floor, 2nd Floor , Sco-83, Swastik Vihar, Mdc, ·
2nd Floor, ·
Old No.139, New
No.28, C.k.colony, New Diddhapudur, ·
12/3, B-311,
Siddharth Towers, Opp. Sangam Press, Kothrud, Pune - 29. ·
422-MIG, 9th Cross
Road, Panampally Nagar, Eranakulam, Cochin 682036. ·
C/o.DPS Corporate
Club, 9-A, Sevok Baidya Street, Kolkata - 700 029 ·
Unit No.6, Building
No.5, 0 Jogani Industial Estate, V.N.Purav Marg, ·
2nd Floor, D 82,
Malvivya Nagar, ·
Door No.50-48-13,
P&T Colony, Sitammadhara, Vishakapatnam - 530 013. |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Ramanna Anand |
|
Designation : |
Director |
|
Address : |
01, 15th Floor, |
|
Date of Birth/Age : |
15.11.1933 |
|
Date of Appointment : |
04.06.1982 |
|
DIN No : |
00040325 |
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|
Name : |
Mr. Kalidind Ravi |
|
Designation : |
Managing Director |
|
Address : |
Plot No.150, NCL Enclave, Petbasheerabad, |
|
Date of Birth/Age : |
27.09.1954 |
|
Date of Appointment : |
11.01.2003 |
|
DIN No : |
00720811 |
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|
|
Name : |
Mr. Mandadi Kanna Reddy |
|
Designation : |
Director |
|
Address : |
Plopt No.550/S, Road No.92, Opposite Micro Wave tower, Jubilee Hills,
Phase-3, Hyderabad-500033, |
|
Date of Birth/Age : |
18.07.1934 |
|
Date of Appointment : |
18.12.1997 |
|
DIN No : |
00040440 |
|
|
|
|
Name : |
Mr. Mocherla Bhaskara Rao |
|
Designation : |
Director |
|
Address : |
8-2-472-6, Road No.4, Banjara Hills, Hyderabad-500034, |
|
Date of Birth/Age : |
06.09.1936 |
|
Date of Appointment : |
23.09.2002 |
|
DIN No : |
01685984 |
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|
|
|
Name : |
Mr. G. D. L. S. N. Raju |
|
Designation : |
Director |
|
Address : |
45-4, Moula Ali, Upparguda, Raja Nagar Colony, Secunerabad-500003, |
|
Date of Birth/Age : |
11.11.1965 |
|
Date of Appointment : |
28.11.2002 |
|
DIN No : |
00040299 |
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|
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|
Name : |
Mr. Kalidindi Madhu |
|
Designation : |
Director |
|
Address : |
Plot No.140, NCL Enclave, Petbasheerabad, |
|
Date of Birth/Age : |
01.07.1956 |
|
Date of Appointment : |
22.07.2000 |
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DIN No : |
00040253 |
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|
Name : |
Mr. Vinodrai V. Goradia |
|
Designation : |
Director |
|
Address : |
107/108, Sagar Apartments, V. N. Purav Marg, Chunabhatti,
Mumbai-400022, |
|
Date of Birth/Age : |
29.08.1937 |
|
Date of Appointment : |
28.09.1990 |
|
DIN No : |
00040369 |
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|
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|
Name : |
Mr. Kamlesh S. Gandhi |
|
Designation : |
Director |
|
Address : |
6, Palm Grove, 26, |
|
Date of Birth/Age : |
16.06.1950 |
|
Date of Appointment : |
14.06.2008 |
|
DIN No : |
00004969 |
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|
|
|
Name : |
Mr. P. Simhadri Reddy |
|
Designation : |
Director |
|
Address : |
C 701, |
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Date of Birth/Age : |
14.05.1953 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No : |
00380564 |
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|
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|
Name : |
Mr. P. Narasimha Raju |
|
Designation : |
Director |
|
Address : |
11-4-646-G-A-101, Vijaya Hills, AC Guardas, Hyderabad-500004, |
|
Date of Birth/Age : |
10.06.1951 |
|
Date of Appointment : |
12.04.2006 |
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DIN No : |
01765409 |
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|
Name : |
Mr. Gautam Kalidindi |
|
Designation : |
Director |
|
Address : |
Plot No.140, NCL Enclave, Petbasheerabad, |
|
Date of Birth/Age : |
02.11.1981 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No : |
02706060 |
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|
|
|
Name : |
Mr. S. Satyanarayana Raju |
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Designation : |
Director |
|
Address : |
HIG-425, BHEL, Ramchandrapuram, |
|
Date of Birth/Age : |
01.04.1946 |
|
Date of Appointment : |
01.08.209 |
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DIN No : |
01764474 |
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KEY EXECUTIVES
|
Name : |
Mr. T. Arun Kumar |
|
Designation : |
Secretary |
|
Address : |
7B-Ligh, APHB, P. S. Nagar, Vijayanagar Colony, |
|
Date of Birth/Age : |
13.12.1963 |
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Date of Appointment : |
05.06.2007 |
|
PAN No : |
AAWPT7459C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON : 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
ICICI Limited, India |
|
870 |
|
The Bank of Rajasthan Limited, India |
|
140 |
|
The Vysya Bank Limited, India |
|
150 |
|
Can Bank Mutual Fund |
|
3000 |
|
UTI – |
|
2150 |
|
Sameer Taneja |
|
11325 |
|
Raghu A G |
|
500 |
|
Vijay Kumar Jawa |
|
100 |
|
M H Razeena |
|
100 |
|
Mr. Kalidindi Madhu |
|
1103629 |
|
Mr. G. D. L. S. N. Raju |
|
260437 |
|
Mr. Ramanna Anand |
|
540 |
|
Mr. Vinodrai V. Goradia |
|
424970 |
|
Mr. P. Simhadri Reddy |
|
25218 |
|
MR. Kalidind Ravi |
|
1503773 |
|
Mr. S. Satyanarayana Raju |
|
333 |
|
Mr. P. Narasimha Raju |
|
332850 |
|
Mr. Gautam Kalidindi |
|
337750 |
|
Mr. T. Arun Kumar |
|
4600 |
AS ON : 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Nationalized or other Banks |
|
0.85 |
|
Mutual Funds |
|
0.01 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.53 |
|
Bodies corporate |
|
17.97 |
|
Directors or relatives of directors |
|
28.58 |
|
Other top fifty shareholders |
|
14.92 |
|
Others |
|
37.14 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributions and Generation of Hydel Power |
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Products : |
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PRODUCTION STATUS (As On : 31.03.2010 )
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
a)
Cement |
|
|
|
|
(1)
Simhapuri |
M. T |
313000 |
297314 |
|
(2) Kondapali |
M. T |
825000 |
306827 |
|
b)
Cement Boards |
|
|
|
|
1) Simhapuri |
M. T |
30000 |
22328 |
|
2) Peorha Sahb |
M. T |
50000 |
15710 |
|
c) Prefab |
M. T |
-- |
38781 |
|
d) Energy |
M. T |
53 |
4047 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged by management. |
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Bankers : |
IDBI Bank Limited, 5-9-89/1, II nd Floor, Chapel Road, Abidas, Hyderabad-500001, Andhra
Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
P. V. Ratnam Chartered Accountant |
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|
|
|
Group Company : |
·
NCL Altek and Seccolor Limited ·
NCL Homes Limited ·
NCL Wintech ( ·
Kakatiya Industries Private Limited ·
Nagarjuna Cerachem Private Limited |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
62000000 |
Equity Shares |
Rs. 10/- each |
Rs. 620.000 millions |
|
|
|
|
|
Issued, Subscribed :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34937335 |
Equity Shares |
Rs. 10/- each |
Rs. 349.373
millions |
|
|
|
|
|
Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34937335 |
Equity Shares |
Rs. 10/- each |
Rs. 349.373
millions |
|
|
|
|
|
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 |
349.373 |
338.197 |
325.039 |
|
|
2] Share Application Money |
0.000 |
34.698 |
25.111 |
|
|
3] Reserves & Surplus |
1030.065 |
915.013 |
669.372 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1379.438 |
1287.908 |
1019.522 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3249.436 |
2828.769 |
1594.166 |
|
|
2] Unsecured Loans |
608.674 |
431.918 |
303.024 |
|
|
TOTAL BORROWING |
3858.110 |
3260.687 |
1897.190 |
|
|
DEFERRED TAX LIABILITIES |
277.596 |
170.915 |
123.042 |
|
|
|
|
|
|
|
|
TOTAL |
5515.144 |
4719.510 |
3039.754 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4610.875 |
2740.705 |
1884.901 |
|
|
Capital work-in-progress |
109.714 |
1184.508 |
437.776 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
444.375
|
406.993 |
354.353 |
|
|
Sundry Debtors |
489.901
|
481.015 |
348.415 |
|
|
Cash & Bank Balances |
45.323
|
153.482 |
459.939 |
|
|
Other Current Assets |
2.367
|
3.216 |
1.739 |
|
|
Loans & Advances |
440.649
|
415.966 |
256.318 |
|
Total
Current Assets |
1422.615 |
1460.672 |
1420.764 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
303.487
|
262.999 |
232.849 |
|
|
Other Current Liabilities |
268.273
|
207.365 |
293.337 |
|
|
Provisions |
60.001
|
199.904 |
181.107 |
|
Total
Current Liabilities |
631.761 |
670.268 |
707.293 |
|
|
Net Current Assets |
790.854
|
790.404 |
713.471 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
3.701 |
3.893 |
3.606 |
|
|
|
|
|
|
|
|
TOTAL |
5515.144 |
4719.510 |
3039.754 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2327.177 |
3039.796 |
1927.296 |
|
|
|
Other Income |
19.928 |
18.185 |
15.036 |
|
|
|
TOTAL (A) |
2347.105 |
3057.981 |
1942.332 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
1703.366 |
2304.346 |
1234.791 |
|
|
|
Increase/(Decrease) in Finished Goods |
(39.217) |
7.903 |
11.304 |
|
|
|
TOTAL
(B) |
1664.149 |
2312.249 |
1246.095 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
682.956 |
745.732 |
696.237 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
251.328 |
184.606 |
161.794 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
431.628 |
561.126 |
534.443 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
208.756 |
135.648 |
109.943 |
|
|
|
|
|
|
|
|
|
Add |
Net Prior Year
Adjustments |
11.069 |
8.234 |
4.795 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
233.941 |
433.712 |
429.295 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.181 |
87.332 |
87.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
223.760 |
346.380 |
341.983 |
|
|
|
|
|
|
|
|
|
Less |
Deferred Tax |
106.682 |
47.872 |
46.290 |
|
|
|
|
|
|
|
|
|
|
Net Profit |
117.078 |
298.508 |
295.693 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
250.000 |
220.532 |
221.417 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
207.574 |
170.122 |
200.000 |
|
|
|
Dividend |
3.269 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
5.838 |
14.369 |
14.029 |
|
|
|
Provision for Dividend |
34.937 |
84.549 |
82.549 |
|
|
BALANCE CARRIED
TO THE B/S |
115.460 |
250.000 |
220.532 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
0.000 |
|
|
|
Stores & Spares |
1.128 |
0.000 |
0.000 |
|
|
|
Capital Goods |
0.000 |
53.854 |
4.102 |
|
|
|
Others |
2.470 |
4.276 |
10.309 |
|
|
TOTAL IMPORTS |
3.598 |
58.130 |
14.411 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.39 |
9.04 |
9.36 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2010 |
30.09.2010 |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
666.520 |
642.670 |
|
Total Expenditure |
|
515.880 |
533.390 |
|
PBIDT (Excl OI) |
|
150.640 |
109.280 |
|
Other Income |
|
4.880 |
0.160 |
|
Operating Profit |
|
155.520 |
109.440 |
|
Interest |
|
98.580 |
96.880 |
|
Exceptional Items |
|
0.000 |
2.900 |
|
PBDT |
|
56.940 |
15.460 |
|
Depreciation |
|
69.730 |
77.740 |
|
Profit Before Tax |
|
(12.790) |
(62.280) |
|
Tax |
|
12.860 |
10.720 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
(25.650) |
(73.000) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
(25.650) |
(73.000) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.53
|
11.33 |
17.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.05
|
14.27 |
22.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.88
|
10.32 |
12.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.34 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.46
|
3.18 |
2.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.25
|
2.18 |
2.01 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
In Millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Creditors For : |
|
|
|
|
Goods and Services |
224.111 |
138.424 |
151.113 |
|
Capital Goods |
27.338 |
0.145 |
0.059 |
|
Expenses |
52.038 |
124.430 |
81.677 |
|
Total |
303.487 |
262.999 |
232.849 |
FINANCIAL RESULTS
During the year, there has been a 20% fall in gross turnover, and 61% in
Net Profit compared to the previous year. The substantial decline in turnover
and profits compared to the previous year was mainly due to lower realization
of cement prices. Unprecedented floods, civil disturbances in Andhra Pradesh
and reduced turnover and margins in prefab Division also contributed to the
decline in performance.
Out of the profits, the Directors purpose a transfer of an amount of
Rs.207.574 millions to the General Reserve.
EXPANSION PROJECTS As reported earlier, the implementation of the further expansion project to add cement capacity of 1.320 millions TPA was completed and the units successfully commenced commercial operations during the year. While the Cement Grinding Unit at Kondapalli has been able to commence its commercial production in June 2009, Simhapuri Unit commenced commercial operation in the last week of March, 2010. With the expansion project, the company has graduated from Mini Cement plant category to become one of the major cement plants in Andhra Pradesh. FORM 8 |
Corporate
identity number of the company |
L33130AP1979PLC002521 |
|
Name of the
company |
NCL INDUSTRIES LTD |
|
Address of the registered
office or of the principal place of
business in |
Raghava ratna towers, 7th floor, chirag ali lane, hyderabad-500001,
andhra pradesh, india |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others Any Interest in immovable property |
|
Particular of
charge holder |
IDBI Bank Limited, 5-9-89/1, II nd Floor, Chapel Road, Abidas, Hyderabad-500001, Andhra
Pradesh, India |
|
Nature of
instrument creating charge |
Declaration and undertaking in the matter of joint mortgage by way of
deposit of title Deeds (constructive delivery) |
|
Date of
instrument Creating the charge |
02.12.2010 |
|
Amount secured by
the charge |
Rs. 210.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest No charge in terms and conditions Terms of
repayment No charge in terms and conditions Margin No charge in terms and conditions Extent and
operation of the charge Charge operates as extension of second pari passu charge on immovable
properties Situated at mattapalli village, nalgonda dist, a.p, bhatanwalli
vlg, sirmour dist, h.p, and adimpothavaram and kavuluru vlg, krishna dist, a.p. |
|
Short particulars
of the property charged (Including location of the property) |
1.
All that land admeasuring 42.36 acres at
mattapalli village in nalgonda district, Andhra Pradesh along with all the
buildings, plant & machinery. 2.
All that land admeasuring 38 bighas at bhatanwali
village, himachal pradesh along with All the buildings, plant and machinery 3.
All that freehold land admeasuring 29.28 acres at
kadimpothavaram and kavuluru Villages in g konduru mandal, krishna distict,
andhra pradesh along with all the Buildings, plant and machinery. 4.
All that mining leasehold rights in 208.90 acres
at mattapalli village, nalgonda district, Andhra pradesh along with all the
buildings, plant and machinery |
|
Charge
identification number of the charge to be modified |
10197039 |
|
Particulars of
the present modification |
The working capital facilities of Rs 210.000 millions is additionally
secured by way of second Pari passu charge on fixed assets more specifically
described in schedule |
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office appliances and
Equipments
·
Vehicles
WEB SIDE DETAILS
Corporate Profile Of Ncl
The Genesis of NCL
Industries can be traced to the Golden Era of entrepreneurial development in
Andhra Pradesh of early 1980’s. This period marked the emergence of a number of
individual entrepreneurs whose initial enterprises evolved into well
established industrial groups over a period of time.
Nagarjuna Cement Limited,
as the Company was known then, established mini cement plant at Mattapalli in
Nalgonda District to augment the supply of scarce cement with relatively low
investment was resounding success.
The Cement produced under
brand name ‘Nagarjuna’ established a premium brand image in the Coastal
districts of Andhra Pradesh. The Company expanded the Capacity of the Cement
Plant by stages from 200 TPD to 900 TPD.
During early nineties, NCL
diversified its activity by setting up a Boards plant near its Cement plant for
manufacture of ‘Bison Panels’ in Technical Collaboration with Bison Werke of
Germany, the world leaders in Particle Board Technology.
NCL carried out
considerable R and D and developed a system suitable to their country that has
flexibility and adoptability to suit individual requirement of customers. Since
then there has been an exponential growth in productivity and turnover, the
capacity of the Cement production is increased in 2 stages. Stage one envisaged
by increasing the Capacity of Clinker from 900 Tons to 1800 Tons at Mattapalli,
by setting up a grinding unit at Kondapalli to produce 1000 Tons of Cement per
day making a total of 1900 Tons per day.
While Stage 2 envisages
setting up a 3000 TPD Clinker unit at Mattapalli to produce additional 2000 TPD
of Cement at Mattapalli and 2000 Tons of Cement at Kondapalli. Thus making a
total of 5900 TPD which amounts to 2 million tons per annum including PPC and
OPC. The 2nd stage expansion which includes a railway siding at Kondapalli will
be commissioned shortly.
After Prefab demand picked
up, the capacity of the boards factory needed further expansion. Hence, one
more Bison Panel factory with higher capacity was set up at Poanta Sahib in
Himachal Pradesh. This factory is able to take care of Northern Indian market
with considerable saving in transport.
The Prefab Division also
picked up its activity and registered considerable turnover on account of bulk
orders received from across the country. The versatility of NCL Prefab is now
known country wide. This has kept NCL Prefab in Number One position in their
country.
Then coming to energy
sector, Hydel Projects completed on right main canal of Srisailam dam is
regularly producing 7.5 Mw of power in 8 months a year. Similarly, the Hydel
Project completed on right high level canal of Tungabhadra dam is generating
8.25 Mw in 9 months a year. These two projects are regularly contributing
annual returns of about Rs.100.00 millions to the Company’s gross savings.
NCL is in continuous search
for further diversification with latest technologies in the areas of building
materials and construction technologies.
NCL Group Companies
·
The Promoters of NCL (formerly
known as Nagarjuna Cement Limited) after success of Cement factory, wanted to
diversify into manufacture of Building materials with best of technologies
adopted from around the world.
·
Alltek Spray plasters manufactured
by international Coating products of Sweden and Seccolor Prepainted Roll formed
Steel section for making windows and doors by Secco Spa of Italy have attracted
the management. These two products are very popular in more than 30
countries.
·
The like minded promoters of NCL
obtained technologies and started NCL Seccolar Limited., and NCL Alltek
Limited, as group companies of NCL.
·
Later NCL Seccolor Limited, and
NCL Alltek Limited, merged together as NCL Alltek and Seccolor Limited, and
expanded the business by setting up 3 more factories in AP, Tamilnad and
Rajasthan states.
·
NCL WINTECH (IND) LIMITED is joint
venture of NCL and M/s. ADOPIN OF TURKEY, NCL WINTECH Setup a factory near
Hyderabad for manufacture of UPVC profiles for doors and windows.
NCL
HOMES LIMITED is yet another group company which is engaged in building
construction work. NCL Homes constructed many building complexes in twin
cities of Hyderabad and Secunderabad and is presently engaged in building
townships in the outskirts of the twincities.
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.45.79 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.