|
Report Date : |
29.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN
AERONAUTICS LIMITED |
|
|
|
|
Registered Office : |
15/1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
16.08.1963 |
|
|
|
|
Com. Reg. No.: |
08-001622 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1205.000
millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U35301KA1963GOI001622 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB00692G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB5987A |
|
|
|
|
Legal Form : |
Government of |
|
|
|
|
Line of Business : |
Manufacturer of
Upgrade and Overhaul of Fighters, Trainers, Helicopters etc. |
|
|
|
|
No. of Employees
: |
35000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (80) |
|
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 389810000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established company of Government of India. Financial position of the company
is sound. The company is doing well. Payments are reported to be regular and
as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered/ Corporate Office : |
15/1, |
|
Tel. No.: |
91-80-22266901/ 8758/
22865197/ 1258 / 8629/ 22866701/ 902-908/ 4636/ 22864930/ 22866578/ 22320701/
22320903/ 22320376/ 22320001/ 22320358/ 22320008 |
|
Fax No.: |
91-80-22268758/
22577533/ 22867140/ 22862334/ 22867361/ 22865275/ 22320140/ 22320361 |
|
E-Mail : |
|
|
Telex |
845-2266 |
|
Telegram |
HAL |
|
Website : |
|
|
Area : |
4126 acres |
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at : v
Chakeri,
P. B. No. 225, v
v
v
Koraput v
Nashik v
Korwa Engine Division:
Tel. No.
91-80-2526 5201 / 2528 3117 Fax No.
91-80-2527 9564 Design Complex
Vimanapura, P. B.
No. 1789, HAL Complex, Tel. No.
91-80-2526 5201 / 1020 Contact Person:
Dr. C. R. Ramanja Char (General Manager) |
|
|
|
|
Plant : |
Engine Division –
Koraput, P.O. Sunabeda – 763 002, District Koraput, |
|
Tel. No. : |
91-6853-220200 |
|
Fax No. : |
91-6853-220004/220217 |
|
|
|
|
Overseas
Office : |
v
Room
No. 602, Tel. No. 0044 – 171 – 497 –
2360 / 81 – 958 – 1826 Fax No. 0044 – 171 – 497 –
8398 Contact Person: Mr. Kanakappa, Resident Manager v
Embassy
of Tel. No. 007 – 095 –
2977523 / 095 – 1430320 Fax No. 007 – 095 – 9752337 Contact Person: Mr. R. Varadarajan, Resident Manager |
|
|
|
|
Regional
Office : |
v
No.
101, Tel. No. 91-11-26514604 Fax No. 91-11-26864683 Contact Person: Gp. Capt. M. S. Shukla (Retd.), Resident Manager v
New Kamani
Chambers, 32, Ramjibhai Kamani Marg, Ballard Estate, Mumbai – 400 018, Tel. No. 91-22-2261 0329 /
2261 6276 Fax No. 91-22-2266 4890 Contact Person: Mr. Harish Chandra, Resident Manager v
No.
9, SAIT Colony, Tel. No. 91-44-2822 4982 Fax No. 91-44-2828 4180 Contact Person: Mr. S. Ramachandran, Resident Manager v
HAL
Bhavan, D. No. 49-22-4, Near Shankar Matham, Lalitanagar, Vishakhapatnam –
530 016, Tel. No. 91-891-22554376 Fax No. 91-891-22495248 Contact Person: Mr. C. Patnaik, Officer-in-Charge v
Secretariat
Contact Person: Mr. Ashok Tandon, Company Secretary Tel. No. 91-80-2286 6001 Fax No. 91-80-2286 8758 /
2286 7533 |
|
|
|
|
Corporate Communications : |
Chief of Media Communications and Official Spokesperson |
|
Address : |
15/1, |
|
Tel. No.: |
91-80-22868629 |
|
Fax No.: |
91-80-22862334 |
|
E-Mail : |
|
|
|
|
|
Marketing
: |
GM (Marketing ) Hindustan Aeronautics Limited |
|
Address : |
15/1, |
|
Tel. No.: |
91-80-22865197 |
|
Fax No.: |
91-80-22867140 |
|
E-Mail : |
|
|
|
|
|
Business Development : |
GM (Projects) Hindustan Aeronautics Limited |
|
Address : |
15/1, |
|
Tel. No.: |
91-80-22864930 |
|
Fax No.: |
91-80-22867361 |
|
E-Mail : |
|
|
|
|
|
Customer Services : |
ED (Customer Service and QA)
Hindustan Aeronautics Limited |
|
Address : |
15/1, |
|
Tel. No.: |
91-80-22866578 |
|
Fax No.: |
91-80-22865275 |
|
E-Mail : |
|
|
|
|
|
Suppliers
: |
GM (Integrated Material Management) |
|
Address : |
15/1, |
|
Tel. No.: |
91-80-22860292 |
|
Fax No.: |
91-80-22867234 |
|
E-Mail : |
imm@hal-india.com |
|
|
|
|
Personnel and Administration: |
Executive Director (Human Resource) |
|
Address : |
15/1, |
|
Tel. No.: |
91-80-22862107 |
|
Fax No.: |
91-80-22863432 |
|
|
|
|
Recruitment : |
|
|
Tel. No.: |
91-80-22861917 |
|
Fax No.: |
91-80-22863432 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Ashok Nayak |
|
Designation : |
Chairman |
|
Address : |
106-10th Cross, Indiranagat 1st Stage, |
|
Date of
Birth/Age : |
24.10.1951 |
|
Date of
Appointment : |
01.04.2009 |
|
DIN No.: |
01621890 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
U35301KA1963GOI001622 |
Hindustan
Aeronautics Limited |
Whole-time
director |
01-04-09 |
01-07-07 |
- |
Active |
NO |
|
U35303KA2005PTC037539 |
Snecma
Hal Aerospace Private Limited |
Nominee
director |
28-09-07 |
28-09-07 |
- |
Active |
NO |
|
U74999KA2008PTC044972 |
Hatsoff
Helicopter Training Private Limited |
Director |
16-01-08 |
16-01-08 |
15-04-09 |
Active |
NO |
|
U93000KA2008PLC046588 |
Tata
HAL Technologies Limited |
Director |
28-05-08 |
28-05-08 |
08-06-11 |
Active |
NO |
|
U35303KA1994PLC016219 |
Indo-Russian
Aviation Limited |
Nominee
director |
15-04-09 |
15-04-09 |
- |
Active |
NO |
|
Name : |
Mr. Naresh Agarwal |
|
Designation : |
Whole-time director |
|
Address : |
SOQ-4, Hal Senior Officers Colony, |
|
Date of
Birth/Age : |
16.06.1951 |
|
Date of
Appointment : |
01.05.2008 |
|
DIN No.: |
01246449 |
|
|
|
|
Name : |
Mr. Prakash V Deshmukh |
|
Designation : |
Managing Director |
|
Address : |
MIG Cottage, |
|
Date of
Birth/Age : |
07.11.1952 |
|
Date of Appointment
: |
01.10.2008 |
|
DIN No.: |
02376494 |
Other Directorship :
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U35301KA1963GOI001622 |
Hindustan
Aeronautics Limited |
Managing
director |
01-10-08 |
01-10-08 |
Active |
NO |
|
U35303KA1994PLC016219 |
Indo-Russian
Aviation Limited |
Director |
01-10-08 |
01-10-08 |
Active |
NO |
|
U29200KA2007PLC043691 |
Infotech
HAL Limited |
Nominee
director |
16-04-09 |
16-04-09 |
Active |
NO |
|
U74999KA2008PTC044972 |
Hatsoff
Helicopter Training Private Limited |
Nominee
director |
08-06-11 |
08-06-11 |
Active |
NO |
|
Name : |
Mr. Salil Kumar Jha |
|
Designation : |
Director |
|
Address : |
D -1, Hal Township, Faizabad
Road, Lucknow- 226019, Uttar Pradesh, India |
|
Date of
Birth/Age : |
18.07.1957 |
|
Date of
Appointment : |
01.01.2009 |
|
DIN No.: |
02417261 |
Other Directorship :
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
U35301KA1963GOI001622 |
Hindustan
Aeronautics Limited |
Managing
director |
01-01-09 |
01-01-09 |
- |
Active |
NO |
|
U32204DL2007PLC158372 |
Samtel
Hal Display Systems Limited |
Director |
23-09-09 |
01-01-09 |
- |
Active |
NO |
|
U35303KA2007PTC042680 |
HALBIT
Avionics Private Limited |
Nominee
director |
15-04-09 |
15-04-09 |
14-08-09 |
Active |
NO |
|
Name : |
Mr. Rajan P Soundara |
|
Designation : |
Whole- time director |
|
Address : |
A2-101, Everest Apartment, 8th
Mainroad, Malleshwaram, Bangalore-560003, |
|
Date of
Birth/Age : |
11.05.1953 |
|
Date of
Appointment : |
01.08.2009 |
|
DIN No.: |
02639746 |
Other Directorship :
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U35303KA2005PTC037539 |
Snecma
Hal Aerospace Private Limited |
Director |
01-04-09 |
01-04-09 |
Active |
NO |
|
U35301KA1963GOI001622 |
Hindustan
Aeronautics Limited |
Managing
director |
17-09-10 |
01-08-09 |
Active |
NO |
|
U35303KA2007PTC042680 |
Halbit
Avionics Private Limited |
Nominee
director |
14-08-09 |
14-08-09 |
Active |
NO |
|
U72200KA1993PLC013983 |
Baehal
Software Limited |
Director |
06-08-10 |
14-08-09 |
Active |
NO |
|
U74999KA2008PTC044972 |
Hatsoff
Helicopter Training Private Limited |
Nominee
director |
07-07-10 |
07-07-10 |
Active |
NO |
|
U29253KA2010PTC054509 |
International
Aerospace Manufacturing Private Limited |
Director |
16-07-10 |
16-07-10 |
Active |
NO |
|
U29199KA2010PLC056091 |
Multirole
Transport Aircraft Limited |
Director |
01-12-10 |
01-12-10 |
Active |
NO |
|
U93000KA2008PLC046588 |
Tata
HAL Technologies Limited |
Director |
08-06-11 |
08-06-11 |
Active |
NO |
|
Name : |
Mr. D Balasunder |
|
Designation : |
Managing Director |
|
Address : |
No. 966, Hal III Stage, 1st Block, III Cross, New
Thippasandra, Bangalore-560075, |
|
Date of Birth/Age : |
16.08.1951 |
|
Date of Appointment : |
22.03.2010 |
|
DIN No.: |
03034333 |
Other Directorship :
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U35301KA1963GOI001622 |
Hindustan
Aeronautics Limited |
Managing
director |
22-03-10 |
22-03-10 |
Active |
NO |
|
U29253KA2010PTC054509 |
International
Aerospace Manufacturing Private Limited |
Director |
16-07-10 |
16-07-10 |
Active |
NO |
|
U35303KA2007PTC042680 |
Halbit
Avionics Private Limited |
Nominee
director |
08-06-11 |
08-06-11 |
Active |
NO |
|
Name : |
Mr. Prem Kumar Kataria |
|
Designation : |
Director (Part – Time Official) |
|
Address : |
805, Setctor B- IX, Vasant Kunj, New Delhi-110070, |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
12.07.2010 |
|
DIN No.: |
03175921 |
Other Directorship :
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
U35100MH1934GOI002079 |
Mazagon
Dock Limited |
Director |
12-07-10 |
12-07-10 |
- |
Active |
NO |
|
U35301KA1963GOI001622 |
Hindustan
Aeronautics Limited |
Director |
12-07-10 |
12-07-10 |
- |
Active |
NO |
|
U63032GA1967GOI000077 |
Goa
Shipyard Limited |
Director |
12-07-10 |
12-07-10 |
- |
ACTIVE |
NO |
|
Name : |
Mr. Vinod Kumar Misra |
|
Designation : |
Director (Part- Time Non- Official) |
|
Address : |
56/1, Friends Colony (East), New Delhi-110065, |
|
Date of Birth/Age : |
24.06.1947 |
|
Date of Appointment : |
12.07.2010 |
|
DIN No.: |
01641492 |
Other Directorship :
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U35100MH1934GOI002079 |
Mazagon
Dock Limited |
Director |
12-07-10 |
12-07-10 |
Active |
NO |
|
U35301KA1963GOI001622 |
Hindustan
Aeronautics Limited |
Director |
12-07-10 |
12-07-10 |
Active |
NO |
|
U63032GA1967GOI000077 |
Goa
Shipyard Limited |
Director |
12-07-10 |
12-07-10 |
Active |
NO |
|
Name : |
Mr. Niranjan K. Naik |
|
Designation : |
Director (Part – Time Non-Official) |
|
Address : |
Flat No. 804, “A” Wing, “ |
|
Date of Birth/Age : |
20.06.1944 |
|
Date of Appointment : |
11.11.2009 |
|
|
|
|
Name : |
Mr. Manoj Saunik |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V.V.R. Sastry |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ajay Shankar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V.M. Chamola |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Tandon |
|
Designation : |
Company Secretary |
|
Address : |
SOQ-3, Hal Senior Officers Colony, |
|
Date of
Birth/Age : |
26.04.1955 |
|
Date of
Appointment : |
27.09.1995 |
|
|
|
|
Name : |
Mr. Ranjan Chatterjee |
|
Designation : |
Joint Secretary |
|
|
|
|
Name : |
Mr. Anuradha Mitra |
|
Designation : |
Joint Secretary |
|
|
|
|
Name : |
Mr. Chatterjee |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.08.2010
|
Names of Shareholders |
No. of Shares |
|
Ashok Nayak |
10 |
|
Dhlulappa Shivamurti |
10 |
|
R K Singh |
50 |
|
Manoj Saunik |
10 |
|
P.K. Katria |
10 |
|
N C Agarwal |
10 |
|
President of |
120499900 |
|
Total
|
120500000 |
Equity Share Breakup (Percentage of Total Equity)
AS ON 31.03.2009
|
Category |
|
Percentage |
|
|
|
|
|
Government (Central and State ) |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Upgrade and Overhaul of Fighters, Trainers, Helicopters etc. |
||||||||
|
|
|
||||||||
|
Products: |
·
Aircrafts of Russian Origin ·
Aircrafts of Western Origin ·
Helicopters ·
Communication/ Navigation Equipments ·
Advanced Communication Equipments ·
Accessories for Aircraft Helicopters and Aeri
Engines ·
Aerospace Equipments ·
Aero Engines of Russian Origin ·
Aero Engines of Origin |
||||||||
|
|
|
||||||||
|
Brand Names : |
"HAL",
"KIRAN", "HIT-34", "CHETAK", "HAWK"
and "JAGUAR" |
GENERAL INFORMATION
|
No. of Employees : |
35000
(Approximately) |
|
|
|
|
Bankers : |
v
State
Bank of v
Punjab
National Bank, City Branch, v
State
Bank of v
Bank
of v
Indian
Bank, v
State
Bank of v
State
Bank of v
State
Bank of Travancore v
State
Bank of |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Shantahmurthy and
Company Chartered
Accountants |
|
Address : |
“SIsa House”
No.3029, Hal 2nd Stage, Sri Sai Darshna Marg, 13th Main,
Indiranagar, Bangalore- 560008, Karnataka, India |
|
PAN No.: |
AACFS5604E |
|
|
|
|
Associates/Subsidiaries : |
v
BAR
Hal Software Private Limited Address: v
All
Government of India Undertaking Companies |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
160,000,000 |
Equity shares |
Rs.10/- each |
Rs.1600.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120,500,000 |
Equity shares |
Rs.10/- each |
Rs.1205.000
millions |
|
|
|
|
|
Notes
Of the above Shares, 2400000 Shares of Rs.10 each have been allotted as
fully paid-up without payment being received in cash
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1205.000 |
1205.000 |
1205.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
96247.224 |
80030.226 |
64959.658 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
97452.224 |
81235.226 |
66164.658 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
14855.529 |
15052.868 |
15252.657 |
|
|
DEFERRED LIABILITIES (Net) |
1.685 |
1.820 |
19.853 |
|
|
|
|
|
|
|
|
TOTAL |
112309.438 |
96289.914 |
81437.168 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15091.794 |
14655.024 |
43397.092 |
|
|
Capital work-in-progress |
1184.198 |
2123.740 |
2178.593 |
|
|
|
|
|
|
|
|
Special Tools & Equipments |
28882.648 |
29782.531 |
0.000 |
|
|
INVESTMENT |
3975.107 |
2306.560 |
440.298 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
174271.809
|
136600.348
|
104311.862
|
|
|
Sundry Debtors |
23182.162
|
18580.350
|
18482.571
|
|
|
Cash & Bank Balances |
200993.174
|
186576.356
|
197445.579
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
57013.988
|
50733.840
|
58561.421
|
|
Total
Current Assets |
455461.133
|
392490.894
|
378801.433
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
24592.895
|
30636.563
|
37881.330
|
|
|
Other Current Liabilities |
370898.540
|
318236.667
|
312586.027
|
|
|
Provisions |
15728.303
|
15857.873
|
12719.952
|
|
Total
Current Liabilities |
411219.738
|
364731.103
|
363187.309
|
|
|
Net Current Assets |
44241.395
|
27759.791
|
15614.124
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
18934.296 |
19662.268 |
19807.061 |
|
|
|
|
|
|
|
|
TOTAL |
112309.438 |
96289.914 |
81437.168 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
131140.807 |
114558.212 |
103706.965 |
|
|
|
Other Income |
22969.639 |
19536.961 |
21993.298 |
|
|
|
TOTAL (A) |
154110.446 |
134095.173 |
125700.263 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of raw material, components etc. |
117724.254 |
92218.016 |
76359.457 |
|
|
|
Amortization and other charges |
9358.950 |
7855.189 |
7977.416 |
|
|
|
Salaries and wages |
22871.546 |
19540.535 |
25427.760 |
|
|
|
Other expenses |
9659.936 |
7884.972 |
7761.715 |
|
|
|
Provision |
4865.888 |
4237.221 |
4782.966 |
|
|
|
Capital and other accounts |
(7114.299) |
(5847.515) |
(7000.080) |
|
|
|
Change in WIP/SIT Scrape |
(33339.008) |
(20337.886) |
(14386.141) |
|
|
|
TOTAL (B) |
124027.267 |
105550.532 |
100923.093 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
30083.179 |
28544.641 |
24777.170 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
0.045 |
0.344 |
2.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30083.134 |
28544.297 |
24774.183 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1687.895 |
1659.973 |
1425.543 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28395.239 |
26884.324 |
23348.640 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7252.661 |
7210.211 |
5950.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (I) |
21142.578 |
19674.113 |
17398.616 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
2999.500 |
2999.500 |
2999.500 |
|
|
|
Proposed Final Dividend |
1231.700 |
935.322 |
480.300 |
|
|
|
Tax on Dividend (Interim and Final) |
694.380 |
668.723 |
591.392 |
|
|
BALANCE CARRIED
TO THE B/S |
16216.998 |
15070.568 |
13327.424 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2141.895 |
1766.406 |
NA |
|
|
|
Commission Earnings |
229.144 |
249.262 |
NA |
|
|
|
Other Earnings |
2.815 |
37.176 |
NA |
|
|
TOTAL EARNINGS |
2373.854 |
2052.844 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
33651.402 |
80489.975 |
NA |
|
|
|
Stores & Spares |
77543.131 |
21069.429 |
NA |
|
|
|
Capital Goods |
558.996 |
1286.463 |
NA |
|
|
|
Others |
1625.807 |
1133.969 |
NA |
|
|
TOTAL IMPORTS |
113379.336 |
103979.836 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
175.46 |
163.27 |
144.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
13.72
|
14.67
|
13.84
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.65
|
23.47
|
22.51
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.03
|
6.60
|
5.53
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.33
|
0.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.37
|
4.49
|
5.49
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.08
|
1.04
|
LOCAL AGENCY FURTHER INFORMATION
OPERATING RESULTS
During the year
2010-11, the Company has performed exceptionally well in terms of growth and profitability.
The Company achieved the highest ever turnover of Rs.131155.000 millions, an
increase of 14.48 per cent over the previous year and Profit Before Tax of
Rs.28395.200 millions as compared to Rs.26884.300 millions in the previous
year.
PERFORMANCE
AGAINST MOU
The Company has
been signing a Memorandum of Understanding (MOU) with the Ministry of Defence
(MoD) every year with regard to achieving the desired level of performance. The
performance for the year 2009-10 was rated as ‘Excellent’. The rating for the
year 2010-11 is under evaluation and the Company is likely to be adjudged as
‘Excellent’ once again. The Company has continued its journey of excellence for
the 10th year in its performance against the MOU with the
Government.
FINANCE
Although HAL is a
‘Zero-Debt’ Company, it has been availing Cash Credit facility from the Bankers
to meet its shortterm requirements from time to time. This credit rating has
enabled the Company to source funds at the best possible rates, thereby
improving the profitability. The cash and bank balances, including short-term
deposits at the end of the year stood at Rs.200993.200 millions against
Rs.186576.400 millions of the previous year.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
Industry scenario
The Defence
Industry in
The Defence
industry in the country, hitherto dominated by the Defence Public Sector
Undertakings (DPSUs), is undergoing a change with the opening up of the
industry for private sector participation permitting 100 per cent private
sector ownership and Foreign Direct Investment of up to 26 per cent. This has
led to a paradigm shift in the structure of the Defence Industry in
It is estimated
that 70 per cent of the equipment are imported and only 30 per cent are
manufactured in
current policy
initiatives display the Government’s keenness to reverse this ratio and to
strengthen the Aerospace and Defence (A and D) industry in the Country. The
introduction of the concept of “Offsets” in the Defence Procurement Policy 2006
and reinforced in the subsequent revisions has opened up new vistas with huge
business potential to the Public/Private sector companies in the Country.
Many major
industrial houses in the Country have diversified into the A and D sector. News
of collaborations and tieups between the Foreign OEMs, who are the technology
providers, and the Indian companies is common. It would not be an overstatement
to say that the Indian A and D market is one of the most sought after
destinations with all the global majors striving for a share in the Indian
market. To sum it up, “Opportunities are abounding, but so are the challenges”.
World over, the
Aircraft Industry has the unique microeconomic characteristic of being
oligopolistic in nature with high entry and exit barriers due to extremely high
capitalisation and large cash flows. The industry, which has high technology
content, not only to the products themselves but to production processes as
well, is global in nature. The industry being sensitive in nature in terms of
high technology is subjected to close Government regulations. In
HAL, a premier
aerospace Company and a Navratna PSU, is involved in design and development,
manufacture, upgrade and repair / overhaul of aircraft (fighters, trainers and
transport), helicopters and associated Aero-engines, Accessories and Avionics
for both military and civil applications. HAL has diversified into allied areas
like manufacture of Structures for Aerospace Launch Vehicles/Satellites and
Cryogenic Engines, production and overhaul of Marine and Industrial Gas Turbine
Engines.
OUTLOOK
The Company with a
vision “To become a significant global player in the aerospace industry” has
chalked out plans and strategies to put itself into the big league of global
companies in the aerospace vertical, while achieving the mission of becoming
self-reliant in supporting the Indian Defence Services. HAL, with a turnover of Rs.131155.000
millions (US$ 2.90 billion) in the year 2010-11, has a healthy Order Book of
Rs.682650 millions (a little over US$ 15.10 billion) as on 1st April
2011.
In addition, the
new programmes in the pipeline such as the MMRCA project, co-development of
FGFA and MTA with the Russians, indigenous development of new basic trainer
HTT- 40, on-going development projects like the IJT, LCH, LUH etc. will not
only ensure that the in-house capacity is fully loaded, but will also provide
the required impetus for the growth of the Company.
As per the
Perspective Plan, the Company would achieve sales of Rs.239300 millions (US$
5.30 billion) by 2016. HAL is presently ranked 38th in the world in the Defence
Aerospace sector as per the ‘Top 100’ survey of the Defence aerospace
manufacturing market for the year 2009, published in ‘Flight International’.
HAL aims to improve the ranking and break into the top 25 as a first step.
FORM 8
|
Corporate
identity number of the company |
U35301KA1963GOI001622 |
|
Name of the
company |
HINDUSTAN AERONAUTICS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
P.B. No. 225,
15/1, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10070823 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Joint deed of
Hypothecation Form CF-2 and Interest pari passu agreement (both pertain to
the same charge) |
|
Date of
instrument Creating the charge |
30..04.2010 |
|
Amount secured by
the charge |
Rs. 11680.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC/LC/BG – Limit
as per respective sanction Terms of
Repayment CC/LC/BG – Limit
as per respective sanction Margin CC/LC/BG – Limit
as per respective sanction Extent and
Operation of the charge Pari Passu First
Charge on the Asset of the assets of the company and to the full extent. Pari
passu with other 11 banks SBI Rs. 9700.000 Millions,
PNB Rs. 700.000 Millions, IB Rs. 300.000 Millions, BOB Rs. 80.000 Millions,
SB Rs. 220.000 Millions, CRS, UBI Rs. 20.000 Millions, IOB Rs. 20.000
Millions, SBH Rs. 300.000 Millions, SBM Rs. 280.000 Millions, SBT Rs. 20.000
Millions, SBP Rs. 20.000 Millions SBB and J Rs. 20.000 Millions, Total Rs.
11680.000 Millions Others Accordingly the
bank had taken security documents for Rs. 11700.000 Millions. However, Exim
Bank who had earlier inclined to join the consortium have since withdrawn
from the consortium and hence have not executed the inter se pari passu
agreement. Hence, the charge to be registered has to be registered to Rs.
11680.000 Millions. Please register the charge favouring the consortium
banks. |
|
Short particulars
of the property charged |
Hypothecation of
company’s present and future current assets like stocks, raw material, semi
finished and finished goods, book debts, receivables, outstanding monies,
bills, rights, stores, components and assets to be purchased out of bank
finance. |
|
Particulars of
the present modification |
The amount
secured by the charge stands increased to Rs. 11680.000 Millions. The
securities described and detailed in col. No. 15 herein above continue for
the enhancement limit. All other terms and conditions remain unchanged. |
FIXED ASSETS:
·
Land
and Development
·
Buildings
·
Plant,
·
Machinery,
·
Equipments
·
Water
Supply
·
Rail
Road, Siding
·
Runways
·
Equipments
and Furniture’s
·
Aircraft
/ Helicopters
·
Transport
Vehicles
WEBSITE DETAILS:
PRESS RELEASES:
His has vast experience in various segments of aircraft production and was
responsible for establishing licence production of Hawk Mk 132, DARIN II
Prototype proving and production of 17 Jaguar twin-seater aircraft, 20
single-seat aircraft and upgrade of 29 NUP Jaguar aircraft, establishing the
production facilities for Unmanned Arial Vehicle Lakshya and produced 27 UAV’s.
Born on 06th August 1958, holds BE (Mechanical), MBA (Marketing), PGDIPR and
M.Phil in Defence Strategic Studies. He is also a member of the Aeronautical
Society of India, which has conferred him DR. BIREN ROY TRUST AWARD FOR THE YEAR 2002 for his
unstinted efforts in planning and establishment of new technologies at HAL.
His major achievements are:
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.49.14 |
|
|
1 |
Rs.77.86 |
|
Euro |
1 |
Rs.66.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
80 |
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.