MIRA
INFORM REPORT
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Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
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Name : |
GUJARAT STATE PETROLEUM CORPORATION LIMITED |
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Registered Office : |
GSPC Bhavan, Udyog Bhavan, Sector-11, Gandhinagar - 382011, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
29.01.1979 |
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Com. Reg. No.: |
04-3281 |
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Capital Investment
/ Paid-up Capital : |
Rs.1056.110 Millions |
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CIN No.: [Company
Identification No.] |
U23209GJ1979SGC003281 |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Exploration of Gas and Oil |
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No. of Employees
: |
10000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (72) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 13000000 |
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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 well – established company having fine track. Available information indicates high financial responsibility of the company. Financial position is good. Payments are correct and as per commitments.
The company can be considered good for any normal business dealings at usual trade terms and conditions.
It can be regarded as a promising business partner in a medium to long – run. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DENIED BY
|
Name : |
Mr. Dave |
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Designation : |
General Manager |
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Date : |
27.05.2011 |
LOCATIONS
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Registered Office : |
GSPC Bhavan, Udyog Bhavan, Sector-11, Gandhinagar - 382011, Gujarat,
India |
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Tel. No.: |
91-79-55701532 / 28501001 / 55701005/ 66701001 |
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Fax No.: |
91-79-23236375 / 55701331 |
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E-Mail : |
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Website : |
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Corporate Office 1: |
GSPC, Transit House/ Office, Near Light House, Village
Hazira, District |
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Tel. No.: |
91-261-2870311/ 2870314 |
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Fax No.: |
91-261-2870668 |
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Corporate Office 2: |
Synergy Station, CNG Filling Station, Near ONGC Cross Road, Ichhapore, Surat, Hasira Road, Surat, Gujarat, India |
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Tel. No.: |
91-261-2841510/ 2841504 |
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Project Offices: |
·
STC Ware House Complex, Nr. MMTC, Ware
House New Port Godown Area, Kakinada 533 007 Tel No.: 91-884-2346997 Fax no.: 91-884-2346887 /
2346447 ·
EPS PK#2 well site, Survey No.1136,
Pisawada Ingoli Road, Nr. Pisawada Village, Ta. Dholka, Dist. Ahmedabad. Tel No.: 91-2714-251074 ·
Tarapur site-Mill Rampura Village,
Nr. Kanawada Village Tarapur-Kanawada Internal Road, Ta. Tarapur Dist. Kheda. ·
· Unawa field, UNAWA #4 EPS, 20 km. from Mehsana Town, Unava Village, Ta. Unjha, Dist. Mehsana. |
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Branch Office: |
2nd Floor, C/o. PTC India Limited, NBCC Tower, 15, Bhikaji Kama Palace, New Delhi |
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Telefax : |
91-11-51659140 |
DIRECTORS
As on : 11.11.2010
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Name : |
Shri Suresh Mathur |
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Designation : |
Director |
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Address : |
F-41, |
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Date of Birth/Age : |
25.07.1940 |
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Date of Appointment : |
26.12.2006 |
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Name : |
Shri Tapan Ray, IAS |
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Designation : |
Director |
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Address : |
K-16, Sector – 20, Gandhinagar |
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Date of Birth/Age : |
09.09.1957 |
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Date of Appointment : |
26.12.2006 |
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Name : |
Shri S. Jagadeesan, IAS |
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Designation : |
Director |
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Address : |
Plot No.666/2, |
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Date of Birth/Age : |
15.01.1953 |
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Date of Appointment : |
16.12.2008 |
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Name : |
Mr. T. Harinarayana |
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Designation : |
Director |
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Address : |
P. No. 125, Suryanagar, RR Dist, Uppal, Andhra Pradesh, India |
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Date of Birth : |
10.06.1954 |
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Date of Appointment : |
21.12.2009 |
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Name : |
Mr. N. Ravichandran |
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Designation : |
Director |
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Address : |
Director’s Bunglow, IIM Indore Campus, Prabandh Shaikar, Rau, Pithampura Road, Indore – 453331, Andhra Pradesh, India |
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Date of birth : |
24.09.1953 |
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Date of Appointment : |
21.122009 |
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Name : |
Mr. Y. B. Sinha |
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Designation : |
Director |
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Address : |
707, Skytech Magadh, GH-7, Sector 3, Vaishali, Gaziabad – 201010, India |
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Date of Birth : |
25.04.1946 |
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Date of Appointment : |
21.12.2009 |
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Name : |
Mr. A.k. Jyoti IAS |
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Designation : |
Chairman |
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Address : |
Govt. Bunglow No.26, Dafnala, Sahibaug, Ahmadabad, India |
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Date of Birth : |
23.01.1953 |
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Date of Appointment : |
08.03.2010 |
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Name : |
Mr. P V Swaminathan |
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Designation : |
Director |
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Address : |
Sterling Point, 3rd Floor, 124, |
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Date of Birth/Age : |
06.09.1937 |
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Date of Appointment : |
29.05.1998 |
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Name : |
Mr. D Jagatheesan Pandian |
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Designation : |
Managing Director |
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Address : |
KH – 214, Sector 19, Gandhinagar – 382019 |
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Date of Birth/Age : |
11.05.1955 |
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Date of Appointment : |
30.10.2001 |
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Name : |
Mr. P K Pujari |
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Designation : |
Director |
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Address : |
Flat No. A – 4/304, Bageshree Apartment, |
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Date of Birth/Age : |
12.06.1957 |
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Date of Appointment : |
31.01.2002 |
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Name : |
Mr. K Kailashnathan, IAS |
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Designation : |
Non-Executive Director |
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Name : |
Mr. M M Srivastava, IAS |
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Designation : |
Director |
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Address : |
K-503, Sector – 20, Gandhinagar |
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Date of Birth/Age : |
23.07.1952 |
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Date of Appointment : |
19.05.2008 |
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Date of ceasing : |
16.12.2008 |
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Name : |
Mr. D. Rajagopalan |
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Designation : |
Chairman |
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Address : |
K-519, Sector 20, Gandhinahar – 382020, India |
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Date of Birth : |
26.07.1949 |
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Date of Appointment : |
13.03.2007 |
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Date of Ceasing : |
08.03.210 |
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Name : |
Mr. Balwant Singh |
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Designation : |
Director |
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Address : |
K – 8, Sector 19, Gandhinagar |
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Date of Birth/Age : |
06.12.1951 |
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Date of Appointment : |
06.09.2004 |
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Date of ceasing : |
13.03.2007 |
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Name : |
Mr. Hasmukh Adhia |
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Designation : |
Director |
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Address : |
A – 3, Samarpan Flats, Gulbai Tekra, Ahmedabad |
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Date of Birth/Age : |
03.11.1958 |
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Date of Appointment : |
19.07.2005 |
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Date of ceasing : |
20.12.2008 |
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Name : |
Mr. Vijaylaxmi Joshi |
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Designation : |
Director |
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Address : |
Government Bunglow No. 25, Dafnala, Shahibaug, Ahmedabad 380004, |
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Date of Birth/Age : |
01.08.1958 |
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Date of Appointment : |
13.03.2007 |
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Other Directorship : |
Gujarat Urja Vikas Nigam Limited CIN No. : U40109GJ2004SGC045195 Designation : Chairman and Managing Director Gujarat State Electricity Corporation Limited CIN No. : U40100GJ1993SGC019988 Designation : Chairman Gujarat Energy Transmission Corporation Limited CIN No. : U40100GJ1999SGC036018 Designation : Chairman GVFL Trustee Company Private Limited CIN No. : U74990GJ2000PTC037367 Designation : Director Uttar Gujarat VIJ Company Limited CIN No. : U40102GJ2003SGC042906 Designation : Director Gujarat Power Corporation Limited CIN No. : U40100GJ1990SGC013961 Designation : Director Gspc Pipavav Power Company Limited CIN No. : U40100GJ2006PLC047783 Designation : Director Pipavav Power Development Company Limited CIN No. : U40105DL2001GOI113508 Designation : Director Gujarat Industries Power Company Limited CIN No. : L99999GJ1985PLC007868 Designation : Director Gujarat State Energy Generation Limited CIN No. : U40100GJ1998SGC035212 Designation : Director Mahaguj Collieries Limited CIN No. : U10102MH2006SGC165327 Designation : Director CIN No. : L24110GJ1973PLC002247 Designation : Director Torrent Power Limited CIN No. : L31200GJ2004PLC044068 Designation : Director |
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Date of ceasing : |
19.05.2008 |
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Name : |
Dr. Manjula Subramaniam |
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Designation : |
Director |
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Address : |
K-504, Sector – 20, Gandhinagar – 382 019 |
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Date of Birth/Age : |
18.09.1948 |
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Date of Appointment : |
23.11.2001 |
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Date of Ceasing : |
06.09.2004 |
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Name : |
Shri. C.K. Koshy |
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Designation : |
Chairman |
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Address : |
K-15, Sector – 20, Gandhinagar |
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Date of Birth/Age : |
12.02.1945 |
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Date of Appointment : |
05.05.2003 |
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Date of Ceasing : |
28.02.2005 |
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Name : |
Shri G. Subba Rao, IAS |
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Designation : |
Chairman |
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Address : |
C-1, Satyam Flats, Near |
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Date of Birth/Age : |
06.01.1943 |
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Date of Appointment : |
05.07.2001 |
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Date of Ceasing : |
05.05.2003 |
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Name : |
Shri P N Roychowdhury, IAS |
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Designation : |
Director |
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Address : |
Kh 15, Sector 19, Gandhinagar |
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Date of Birth/Age : |
22.01.1951 |
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Date of Appointment : |
22.05.1997 |
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Date of Ceasing : |
30.06.2003 |
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Name : |
Shri Kishorebhai Vankawala |
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Designation : |
Director |
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Address : |
Jaldarshan Society, |
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Date of Birth/Age : |
24.05.1944 |
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Date of Appointment : |
21.06.1999 |
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Date of Ceasing : |
30.06.2003 |
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Name : |
Shri Pradipbhai Vala |
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Designation : |
Director |
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Address : |
Main Bazar, Morbi |
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Date of Birth/Age : |
07.09.1956 |
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Date of Appointment : |
21.06.1999 |
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Date of Ceasing : |
30.06.2003 |
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Name : |
Shri Nikhilbhai Chhaya |
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Designation : |
Director |
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Address : |
Timbi Kotha, Anjar, Kutuchh |
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Date of Birth/Age : |
30.11.1951 |
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Date of Appointment : |
21.06.1999 |
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Date of Ceasing : |
30.06.2003 |
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Name : |
Shri Rajubhai Iyer |
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Designation : |
Director |
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Address : |
A/12, New Nikita park Flats, 3rd Floor, Near Sun N Step
Club Ghatlodia, Ahmedabad – 380 061 |
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Date of Birth/Age : |
12.11.1964 |
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Date of Appointment : |
21.06.1999 |
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Date of Ceasing : |
30.06.2003 |
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Name : |
Shri Babubhai Devrajbhai Zadafia |
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Designation : |
Diretcor |
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Address : |
23, |
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Date of Birth/Age : |
21.09.1950 |
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Date of Appointment : |
21.06.1999 |
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Date of Ceasing : |
30.06.2003 |
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Name : |
Shri Lalabhai Desai |
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Designation : |
Director |
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Address : |
112, Rabari Colony, Odhav, Ahmedabad |
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Date of Birth/Age : |
20.06.1961 |
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Date of Appointment : |
05.07.2001 |
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Date of Ceasing : |
30.06.2003 |
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Name : |
Shri Sanjay Gupta, IAS |
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Designation : |
Managing Director |
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Address : |
G-11, Sector 9, Gandhinagar |
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Date of Birth/Age : |
19.06.1963 |
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Date of Appointment : |
05.12.1997 |
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Date of Ceasing : |
31.10.2001 |
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Name : |
Shri Vijay Ranchan, IAS |
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Designation : |
Director |
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Address : |
26, Government Bunglow, Dafanal Shahibaug, Ahmedabad |
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Date of Birth/Age : |
01.10.1942 |
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Date of Appointment : |
16.10.1999 |
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Date of Ceasing : |
23.11.2001 |
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Name : |
Shri Anil Mukim, IAS |
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Designation : |
Director |
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Address : |
E-2, Samarpan Flats, Gulbai Tekra, Ahmedabad |
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Date of Birth/Age : |
15.08.1960 |
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Date of Appointment : |
05.09.2001 |
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Date of Ceasing : |
31.01.2002 |
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KEY EXECUTIVES
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Name : |
Shri Sandeep Dave |
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Designation : |
Company Secretary |
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Address : |
Plot No.666/2, Panchvati park, Sectro – 23, Gandhinagar – 382 023 |
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Date of Birth/Age : |
13.02.1975 |
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Date of Appointment : |
01.11.2008 |
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Name : |
Mr. V. K. Sharma |
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Designation : |
Company Secretary |
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Address : |
A-303, Bageshree, Satellite Cross Road, Ahmadabad – 380015, Gujarat,
India |
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Date of Birth : |
03.01.1955 |
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Date of Appointment : |
01.11.2003 |
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Date of Ceasing : |
01.11.2008 |
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Name : |
Mr. Rajesh R Shah |
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Designation : |
Company Secretary |
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Address ; |
NITI, Beside Girls School Bhairavnath Road, Maninagar, Ahmadabad,
India |
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Date of Birth / Age : |
13.09.1962 |
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Date of Appointment : |
06.08.1998 |
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Date of ceasing : |
30.10.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 11.11.2010
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Names of Shareholders |
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No. of Shares |
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B.K. Patel and Governor of Gujarat, Gandhinagar |
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200 |
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Gujarat Alkalies and Chemicals Limited, Gujarat |
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21543200 |
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Gujarat Industrial Investment Corporation Limited, Gandhinagar |
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20555500 |
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Gujarat Industrial Development Corporation Limited, Gandhinagar |
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12345600 |
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Gujarat Mineral Development Corporation Limited, Ahmadabad |
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26172800 |
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Gujarat Narmada Valley Fertilizers Company Limited, Bharuch |
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21543200 |
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Gujarat State Fertilizers Company Limited, Baroda |
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23500000 |
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Gujarat Gas Company Limited, Ahmadabad |
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2000000 |
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Governor of Gujarat, Gandhinagar, Gandhinagar |
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2007220000 |
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K.K. Patel and Governor of Gujarat, Gandhinagar |
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200 |
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K.H. Chorera and governor of Gujarat, Gandhinagar |
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200 |
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P. M. Dodiya and Governor of Gujarat, Gandhinagar |
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200 |
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Avantika Aulakh, IAS and Governor of Gujarat, Gandhinagar |
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200 |
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N.B. Dave and Governor of Gujarat, Gandhinagar |
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200 |
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H.F. Gandharv and Governor of Gujarat, Gandhinagar |
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200 |
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IDBI Bank Limited, India |
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18518500 |
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IFCI Limited, New Delhi |
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12345600 |
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SBI, India |
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37037030 |
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As on : 11.11.2010
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Equity Share
breakup (percentage of total equity) |
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Category |
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Percentage |
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Government [Central and State] |
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89.83 |
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Government companies |
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6.22 |
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Public Financial Companies |
|
1.38 |
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Nationalized or other Banks |
|
1.66 |
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Bodies corporate |
|
0.91 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Exploration of Oil and Gas |
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Products : |
ITC CODE |
Product Description |
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27090000 |
Crude
Oil |
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27115100 |
Natural
Gas |
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26160000 |
Wind
Energy |
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Terms : |
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Purchasing : |
Depends |
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PRODUCTION STATUS (31.03.2010)
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Particulars |
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Unit |
Actual
Production* |
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Crude Oil |
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Barrels |
403.271 |
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Gas |
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Lakh M3 |
2436 |
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Note : * External Internal Consumption and Normal Loss.
GENERAL INFORMATION
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Customers : |
Manufacturer and Others |
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No. of Employees : |
10000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Talati and Talati Chartered Accountant |
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Address : |
Ambica Chambers, Near Old High Court, Navrangapura, Ahmadabad – 380009, Gujarat, India |
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Pan No : |
AACFK3532D |
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Internal Auditor : |
Mahajan and Ajbara |
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Subsidiaries : |
·
Gujarat State Electricity Corporation Limited ·
GSPC Pipavav Power Company Limited ·
GSPC LNG Limited ·
Guj Info Petro Limited ·
GSPC Gas Company Limited ·
GSPC JPDA Limited |
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|
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Associates : |
·
Gujarat State Energy Generation Limited ·
Sabarmati Gas Company Limited |
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|
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Joint Ventures : |
·
Niko Resources Limited ·
Oilex NL Holdings (India) Limited ·
Oilex NL ·
Hindusthan Oil and Exploration company Limited ·
Oil and Natural Gas Corporation Limited ·
Indian Oil Corporation Limited ·
GAIL (India) Limited ·
Oil Indian Limited ·
Jubliant Oil and Gas Private Limited ·
Geo Global Resources Inc. ·
Jubilant Securities Private Limited ·
Vediocon Industries Limited ·
Oilex Limited ·
Great Artesian Oil and Gas Limited ·
Japan Energy Corporation ·
Bharat Petroleum Limited ·
Pan Pacific Petroleum Limited ·
Sasol Petroleum Limited ·
Hinduthan Petroleum Corporation Limited ·
Petrogas E and P LLC ·
Meramec Limited ·
Suntra Resources Limited ·
Ensearch Petroleum Limited ·
Haramec Limied
·
Hallworthy shipping Limited ·
Nine Fire Protection Industries Limited ·
Mittal Energy Limited ·
Bengal Energy Internation Inc. ·
Jubliant Enpro Limited ·
Prize Petroleum Company Limited ·
Alkor Petro Limited ·
Western Drilling Contractors Private Limited ·
Essar Oil Limited ·
Adani Welspun Explorartion Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
Rs. 1/- Each |
Rs.3000.000 Millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2197326000 |
Equity Shares |
Rs. 1/- Each |
Rs.2197.326 Millions |
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|
|
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Note :
Of the above
1056110700 Equity Shares allotted as fully paid up bonus shares, by way of
capitalization of general reserves.
Out of the above 200722 Equity Shares of Rs.
1/- each are held by government of Gujarat Equity shares of Rs. 10 each has
been sub-divided into ten Equity shares of Rs. 1 each pursuant to resolution of
Shareholders dated December 29, 2009.
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 |
2197.300 |
2112.200 |
1056.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
29387.500 |
20012.600 |
17588.100 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
31584.800 |
22124.800 |
18644.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
32044.500 |
28635.500 |
7352.100 |
|
|
2] Unsecured Loans |
31793.800 |
20836.600 |
14517.000 |
|
|
TOTAL BORROWING |
63838.300 |
49472.100 |
21869.100 |
|
|
DEFERRED TAX LIABILITIES |
641.800 |
459.200 |
12.500 |
|
|
|
|
|
|
|
|
TOTAL |
96064.900 |
72056.100 |
40525.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8727.400 |
5307.500 |
4391.800 |
|
|
Capital work-in-progress |
76901.900 |
60561.600 |
32214.700 |
|
|
|
|
|
|
|
|
INVESTMENT |
4235.400 |
4065.000 |
3813.900 |
|
|
DEFERREX TAX ASSETS |
1.000 |
0.700 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
32.400
|
18.000
|
29.700
|
|
|
Sundry Debtors |
2244.600
|
1460.100
|
3133.000
|
|
|
Cash & Bank Balances |
643.100
|
8154.400
|
183.900
|
|
|
Other Current Assets |
6.800
|
5.600
|
160.100
|
|
|
Loans & Advances |
11830.100
|
10982.600
|
5937.700
|
|
Total
Current Assets |
14757.000
|
20620.700
|
9444.400
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2951.700
|
7850.700
|
8208.200
|
|
|
Sundry Creditors |
4759.900 |
9747.500 |
|
|
|
Provisions |
906.700
|
901.200
|
1130.800
|
|
Total
Current Liabilities |
8618.300
|
18499.400
|
9339.000
|
|
|
Net Current Assets |
6138.700
|
2121.300
|
105.400
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
60.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
96064.900 |
72056.100 |
40525.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
38685.500 |
54761.800 |
41174.900 |
|
|
|
Other Income |
269.800 |
312.500 |
257.200 |
|
|
|
TOTAL (A) |
38955.300 |
55074.300 |
41432.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Gas/Petroleum Products |
31129.400 |
44060.900 |
31282.200 |
|
|
|
Increase/(Decrease) in Finished Goods |
(12.700) |
16.600 |
(22.800) |
|
|
|
Production, Selling and Operational
Expenditure |
1272.300 |
1753.400 |
1559.800 |
|
|
|
Payment to and provisions for Employees |
75.100 |
88.200 |
32.500 |
|
|
|
Administrative and Other Expenses |
648.900 |
1350.200 |
940.400 |
|
|
|
TOTAL (B) |
33113.000 |
47269.300 |
33792.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5842.300 |
7805.000 |
7640.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
271.400 |
74.300 |
65.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5570.900 |
7730.700 |
7574.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1540.700 |
1423.000 |
1294.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4030.200 |
6307.700 |
6280.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
834.000 |
2558.600 |
2222.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3196.200 |
3749.100 |
4057.600 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENT |
(19.700) |
(7.300) |
(8.600) |
|
|
|
|
|
|
|
|
|
|
EXCESS/SHORT
PROVISION OF DIVIDEND DISTRIBUTION TAX |
0.000 |
3.100 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3553.500 |
9066.400 |
8764.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3000.000 |
9000.000 |
3500.000 |
|
|
|
Dividend |
424.900 |
225.700 |
211.200 |
|
|
|
Tax on Dividend |
70.600 |
32.100 |
35.900 |
|
|
BALANCE CARRIED
TO THE B/S |
3234.500 |
3553.500 |
9066.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Foreign Travel |
0.300 |
NA |
NA |
|
|
|
Consultancy and Technical Fees |
65.000 |
NA |
NA |
|
|
|
Subscription |
1.800 |
NA |
NA |
|
|
|
Others |
2352.500 |
NA |
NA |
|
|
TOTAL IMPORTS |
2419.600 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.50 |
1.77 |
19.17 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
45000.000 |
|
|
|
|
|
The above information has been parted by Mr. Dave.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.20
|
6.80
|
9.79
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.41
|
11.51
|
15.25
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.16
|
24.32
|
45.39
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.28
|
0.34
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.29
|
3.07
|
0.50
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71
|
1.11
|
1.01 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
In millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Micro, Small and Medium Enterprises |
0.000 |
0.000 |
NA |
|
Other |
4759.900 |
9747.500 |
NA |
RESULTS FROM
OPERATIONS :
In Spite of Global recession and reduction in production from
Hazira field, the company has managed to maintain profitability in the range as
previous year .
CAPITAL :
During the year, the company has raised approximately Rs. 9890.000
millions by private placement of CCD / Equity.
NOTE:
The Registered Office of the company has been shifted from 2nd
Floor, B/h Udyog Bhavan, Sector-11, Gandhinagar - 382 011,
Form: 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U23209GJ1979SGC003281 |
|
Name of the
company |
GUJARAT STATE PETROLEUM CORPORATION LIMITED |
|
Address of the registered
office or of the principal place of
business in |
GSPC Bhavan, B/h Udyog Bhavan, Sector-11, Gandhinagar - 382
011, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
ICICI Bank Limited 9th Floor, JMC House, Ambawadi, Ahmedabad – 380006, |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of hypothecation
dated 31.08.2007 |
|
Date of
instrument Creating the charge |
31.08.2007 |
|
Amount secured by
the charge |
Rs. 8650.000
Millions |
|
Short particulars
of the property charged |
The receivables have
been hypothecated as and by way of second charge and shall rank subsequent to
the charge crated in favour of SBI, BOB, BOI, IDBI Bank, Corporation Bank,
PNB, Axis Bank and more. |
|
Corporate identity number of the company |
U23209GJ1979SGC003281 |
|
Name of the company |
GUJARAT STATE PETROLEUM CORPORATION
LIMITED |
|
Address of the registered office or of the
principal place of business in |
GSPC Bhwan, Behind Udyog Bhawan,
Sector-11, Gandhinagar - 382011, Gujarat, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others |
|
Particular of charge holder |
SBICAP TRUSTEE COMPANY LIMITED, 202, Maker
Tower, 'E', Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
Nature of instrument creating charge |
Deed of Hypothecation executed on 25th March, 2011 in favour of SBICAP
Trustee Company Limited for the benefit of lenders |
|
Date of instrument Creating the charge |
25.03.2011 |
|
Amount secured by the charge |
Rs. 30000.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Extent
and operation of the charge The first ranking charge is created over
the hypothecated property in favour of the security Trustee for the benefit
of the Secured Parties / bankers as per the
attached Deed of Hypothecation
dated March 25,2011 |
|
Short particulars of the property charged
(Including location of the property) |
1.A first ranking pari passu charge over
the borrowers participating interest in the Production Sharing Contract to
the extent permitted under Article 28.8 of the PSC 2.1st ranking pari-passu charge over such
amount of the Borrowers share of cash flow fm Contract Area through
assignment of certain gas sale contracts that average Debt Service Ratio is
maintained @ 1.5 3.A first raking pari passu charge over
the Trust and Retention and other
account of the borrower required to be established in accordance with the Financing Documents |
FIXED ASSETS
- Land
- Building
- Office Equipment
- Computer Equipment
- Vehicle
- Furniture and Fixture
- Plant
and Machinery
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. 45.10 |
|
|
1 |
Rs. 74.27 |
|
Euro |
1 |
Rs. 64.35 |
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 |
YES |
|
--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.