MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
OM METALS
INFRAPROJECTS LIMITED |
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Formerly Known
As : |
OM METALS
LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
22.11.1971 |
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Com. Reg. No.: |
17-003414 |
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Capital
Investment / Paid-up Capital : |
Rs.96.304
millions |
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CIN No.: [Company Identification
No.] |
L27203RJ1971PLC003414 |
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Legal Form : |
Public Limited
Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in diversified activities such as execution of turnkey Hydro-mechanical contracts for Hydropower and Irrigation projects, Real Estate development and Infrastructure projects. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 17133000 |
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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 an established company having fine track record. There
appears some dip in the turnover and profitability of the company during the
year. However, networth appears to be satisfactory. General financial position of the company is good. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A1 |
|
Rating Explanation |
Highest degree of safety it carry lowest credit risk. |
|
Date |
April 24, 2012 |
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Rating Agency Name |
CARE |
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Rating |
Long Term Bank Facilities: A |
|
Rating Explanation |
Adequate degree of safety it carry low credit risk. |
|
Date |
April 24, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Plant/ Site Location : |
Om Tower, M.I.
Road, Church Road, Jaipur – 302 001, Rajasthan, India |
|
Tel. No.: |
91-141-2366679-80, 4044284/ 4037741-42 |
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Fax No.: |
91-141-2371610/ 2371615/ 4044283 |
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E-Mail : |
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Website : |
http://www.ommetals.com |
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Corporate Office : |
NBCC
Plaza, Tower III, Fourth Floor, Pushp Vihar, Saket, New Delhi – 110 017,
India |
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Tel. No.: |
91-11-29565552 (3 lines) |
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Fax No.: |
91-11-29565551 |
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E-Mail : |
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Factory : |
B-117/118, Indraprastha
Industrial Area, Kota – 324 006, Rajasthan, India |
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Tel. No.: |
91-744-2425107, 2420756 |
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Fax No.: |
91-744-2438069 |
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E-Mail : |
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Site Location : |
Also located at: ·
Kameng
in Arunachal Pradesh ·
Largi,
Koldam in Himachal Pradesh ·
Siliguri
in West Bengal ·
Goshikhurd
in Maharashtra · Sewa in Jammu and Kashmir and various other projected sites |
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Branch Office : |
Located at: ·
New Delhi ·
Kota ·
Mumbai ·
Kolkata |
DIRECTORS
As on 31.03.2012
|
Name : |
Dr. Trilok Chand
Kothari |
|
Designation : |
Chairman |
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Date of Birth/Age : |
11.06.1927 |
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Qualification : |
P.Hd, D. Lit |
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Expertise in
specific functional area : |
Banking, taxation
and Company law related affairs. |
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Date of Appointment : |
01.10.1994 |
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Name : |
Mr. C.P. Kothari |
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Designation : |
Managing Director |
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Name : |
Mr. D.P. Kothari |
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Designation : |
Director |
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Name : |
Mr. Sunil Kothari |
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Designation : |
Director |
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Name : |
Mr. P.C. Jain |
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Designation : |
Director (Technical) |
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Name : |
Mr. Kamal Kumar Chandwar |
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Designation : |
Director (Audit) |
KEY EXECUTIVES
|
Name : |
Ms.
Reena Jain |
|
Designation : |
Company
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
58812462 |
61.07 |
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|
8243467 |
8.56 |
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|
67055929 |
69.63 |
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Total shareholding of Promoter and Promoter Group (A) |
67055929 |
69.63 |
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(B) Public Shareholding |
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|
|
|
|
4083292 |
4.24 |
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|
4083292 |
4.24 |
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|
14537789 |
15.10 |
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|
|
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|
6748155 |
7.01 |
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|
3216142 |
3.34 |
|
|
662502 |
0.69 |
|
|
214155 |
0.22 |
|
|
1670 |
0.00 |
|
|
446677 |
0.46 |
|
|
25164588 |
26.13 |
|
Total Public shareholding (B) |
29247880 |
30.37 |
|
Total (A)+(B) |
96303809 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
96303809 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in diversified activities such as execution of turnkey Hydro-mechanical contracts for Hydropower and Irrigation projects, Real Estate development and Infrastructure projects. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of Bikaner and Jaipur, Industrial
Estate, Kota, Rajasthan, India ·
State Bank of Patiala, Janpath, New Delhi, India ·
Bank of Baroda, Jhalawar Road, Kota, Rajasthan,
India ·
IDBI Bank Limited, C-Scheme, Jaipur, Rajasthan,
India ·
State Bank of India, M.I. Road- Church Road,
Jaipur, Rajasthan, India |
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Facilities : |
Notes: LONG TERM
BORROWINGS 1.
Rupees term loan from banks are secured/to be secured by first charge by way
of mortgage, by deposit of title deeds in respect of immovable properties and
hypothecation of the movable fixed assets of the company, both present and
future (save and except book debt and other current assets) of Hotel division
Jaipur (Rajasthan), Multiplex Division, Kota (Raj.) and property located at
VKI Jaipur (Rajasthan) Om Enclave including wind mill subject to prior
charges created/to be created in favor of banks on current assets and movables for securing working
capital borrowings and further secured by way of personal guarantees of Shri T.C. Kothari, C.P.
Kothari, D.P. Kothari and Sunil Kothari directors of the company. Rupees term loan from banks are further
secured by way of equitable mortgage of lease of land belonging to Om Kothari Pariwari Trust (Family trust)
located at Jaipur for Hotel division and further secured by way of personal guarantee of the
trustee of the trust. 2. Loan
from HDFC Bank Rs.27.155 millions ICICI Bank Rs.7.770 millions and Kotak
Mahkdra Bank Rs.0.502 million are secured by way of hypothecation of related
vehicle /machinery financed by them. 3. Schedule of repayment of term
loans of banks and others Bank (Rs.
in millions)
4. Interest Rates are lending
bank’s Base rates + 4 to 5 % at monthly rest SHORT TERM BORROWINGS 1. Working Capital Loans from
banks i.e. SBBJ Bank, SBI, IDBI, BOB, SBOP, HDFC, Slandered Chartered Bank
are secured by way of hypothecation of all company s current assets including
all stocks and book debts and other movable, both present and future on rank
in pari - passu basis inter se between the lender. These loans are further
secured / to be secured on pari-passu charges by way of first/second charge
by way of mortgage, by deposit of little deeds in respect of immovable
properties (except on which secured loans taken from banks and other parties)
and personal guarantees of the Shri T.C. Kothari, Shri C.P. Kothari, Shri
D.P. Kothari and Sunil Kothari Directors of the company and further secured
by way of equitable mortgage of laud and building belonging to Jupiter Metals
(Private) Limited and Hypothecation of Plant and machinery of OMML JSC JV
Kameg (Arunachal Pradesh). 2. Secured by way of deposit of
FDR. 3. Foreign Currency Loans are
secured by way of Letter of Credit issued by Bank. 4. Bank guarantees and letter of credit aggregating to Rs…. are secured by way of hypothecation of stock, receivables and further secured by way of collateral in the shape of equitable mortgage of property. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M.C.
Bhandari and Company Chartered Accountants |
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Address : |
38, Shopping Centre, Kota – 324 007, Rajasthan, India |
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Tel. No.: |
91-744-2361530 |
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Step Subsidiary : |
·
Om Auto Motors
Private Limited (Subsidiary company of Om Metals Real Estate Private Limited)
·
Om Metals
Ratanakar (Private) Limited (Subsidiary company of Om Metals Real Estate
Private Limited) ·
Om Hydromech
Private Limited (Subsidiary company of Om Metals Real Estate Private Limited) |
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|
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|
Subsidiary
Company : |
·
Om Metals Real
Estate (Private) Limited ·
Om Metals
Consortium (Private) Limited |
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Joint Venture : |
Omil JSC JV Kameng |
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Enterprises over
which significant influence exercised by directors : |
·
Skywave Impex
Limited ·
Lambodar Finvest
(Private) Limited ·
Jupiter Metals
(Private) limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity Shares |
Re.1/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
96303809 |
Equity Shares |
Re.1/- each |
Rs.96.304
millions |
|
|
|
|
|
Notes:
1. Above
issued, subscribed and paid-up capital include :-
(a)
42554000 nos. of fully paid Equity Share of Re1/- each were allotted as bonus
shares by way of capitalisation of reserves and Profit & Loss Account
(b) 20112659 Shares of Re.1 each have been
allotted for consideration other than cash, pursuant to the scheme of
amalgamation sanctioned by Hon'ble High Court of Rajasthan dated 19.01.2007 to
the share holders of erstwhile :-
|
Om Rajasthan Carbide Limited |
5476259 |
|
Jupiter Manirfacturing Company (Private) Limited |
5318400 |
|
Om
Structurals India (Private) Limited |
5808000 |
|
Om
Kothari Cement and Chemicals (Private) Limited |
1410000 |
|
SAH
Buildcon (Private) Limited |
1050000 |
|
Richa
Builders (Private) Limited |
1050000 |
|
Total |
20112659 |
2. The
company has only one class of share referred to as equity shares having a par
value of Rs. 1/- each holder of equity shares is entitled to one vote per
share.
3. The
details of Share holders holding more than 5 % equity shares as at 31.03.2012
|
Shareholder |
No of Share |
Ownership Interest % |
|
1. T.E. Kothari and Sons |
11408180 |
11.85% |
|
2. C. P. Kothari (Managing Director) |
542818 |
5.63% |
|
4. Sunil
Kothari (Director) |
6045108 |
6.28% |
4. The
reconciliation of the number of shares outstanding as at March 31, 2012 is set
out below:
|
Particulars |
As at 31.03.2012 |
|
Number
of shares at the beginning |
96303809 |
|
|
|
|
Number
of shares at the end |
96303809 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
96.304 |
96.304 |
96.304 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4186.868 |
3958.022 |
3688.743 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4283.172 |
4054.326 |
3785.047 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1033.219 |
724.994 |
459.739 |
|
|
2] Unsecured Loans |
139.740 |
27.120 |
0.000 |
|
|
TOTAL BORROWING |
1172.959 |
752.114 |
459.739 |
|
|
DEFERRED TAX LIABILITIES |
43.879 |
51.592 |
53.158 |
|
|
|
|
|
|
|
|
TOTAL |
5500.010 |
4858.032 |
4297.944 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1531.999 |
1513.659 |
1358.584 |
|
|
Capital work-in-progress |
12.615 |
33.017 |
13.504 |
|
|
|
|
|
|
|
|
INVESTMENT |
1141.715 |
590.153 |
528.750 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
615.066
|
354.101 |
524.800 |
|
|
Sundry Debtors |
830.384
|
866.299 |
740.367 |
|
|
Cash & Bank Balances |
76.083
|
85.738 |
701.044 |
|
|
Other Current Assets |
98.901
|
19.843 |
0.000 |
|
|
Loans & Advances |
2340.476
|
2733.315 |
1326.937 |
|
Total
Current Assets |
3960.910
|
4059.296 |
3293.148 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
174.311
|
370.758 |
116.016 |
|
|
Other Current Liabilities |
963.958
|
959.381 |
552.582 |
|
|
Provisions |
8.960
|
7.954 |
238.879 |
|
Total
Current Liabilities |
1147.229
|
1338.093 |
907.477 |
|
|
Net Current Assets |
2813.681
|
2721.203 |
2385.671 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
11.435 |
|
|
|
|
|
|
|
|
TOTAL |
5500.010 |
4858.032 |
4297.944 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from operations |
2125.731 |
2349.966 |
1966.436 |
|
|
|
Other Income |
48.681 |
51.017 |
89.881 |
|
|
|
TOTAL (A) |
2174.412 |
2400.983 |
2056.317 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of
materials consumed |
948.116 |
1146.432 |
|
|
|
|
Purchase
of Stock-in-Trade |
0.000 |
1.461 |
|
|
|
|
Changes
in inventories of finished goods, work-in- progress and Stock-in-Trade |
(235.543) |
(103.283) |
|
|
|
|
Employee
benefit expense |
138.757 |
102.631 |
|
|
|
|
Other expenses |
707.998 |
668.495 |
|
|
|
|
Exceptional Items |
|
|
|
|
|
|
Depreciation
Written Back |
(1.574) |
0.000 |
|
|
|
|
Excess
Provision (Income Tax) Written Back |
(29.534) |
(71.512) |
|
|
|
|
TOTAL (B) |
1528.220 |
1744.224 |
1504.137 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
646.192 |
656.759 |
552.180 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
237.094 |
171.278 |
72.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
409.098 |
485.481 |
479.525 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
121.776 |
114.547 |
65.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
287.322 |
370.934 |
413.661 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
47.087 |
84.584 |
88.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
240.235 |
286.350 |
325.136 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1328.134 |
1083.629 |
816.685 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
35.000 |
|
|
|
Proposed Dividend on equity shares –
Interim |
|
|
19.261 |
|
|
|
Corporate Dividend Tax |
|
|
3.273 |
|
|
|
Income Tax Exp. Earlier Year |
|
|
0.658 |
|
|
BALANCE CARRIED
TO THE B/S |
1545.177 |
1328.134 |
1083.629 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Room Rent and Other Services |
0.636 |
0.842 |
0.042 |
|
|
TOTAL EARNINGS |
0.636 |
0.842 |
0.042 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
70.354 |
272.640 |
174.341 |
|
|
|
Capital Goods |
31.610 |
75.492 |
26.803 |
|
|
TOTAL IMPORTS |
101.964 |
348.132 |
201.144 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.49 |
2.97 |
3.38 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 (1st
Quarter) |
30.09.2012 (2nd
Quarter) |
31.12.2012 (3rd
Quarter) |
|
Net Sales |
631.600 |
683.300 |
910.600 |
|
Total Expenditure |
502.000 |
503.300 |
775.300 |
|
PBIDT (Excl OI) |
129.600 |
179.900 |
135.400 |
|
Other Income |
4.300 |
1.700 |
7.800 |
|
Operating Profit |
133.800 |
181.600 |
143.100 |
|
Interest |
41.000 |
49.600 |
39.200 |
|
Exceptional Items |
0.000 |
9.900 |
(0.200) |
|
PBDT |
92.900 |
141.900 |
103.800 |
|
Depreciation |
22.400 |
24.100 |
24.300 |
|
Profit Before Tax |
70.400 |
117.800 |
79.400 |
|
Tax |
17.200 |
9.900 |
26.400 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
53.200 |
107.900 |
53.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
53.200 |
107.900 |
53.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
11.05
|
11.93 |
15.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.52
|
15.78 |
21.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.23
|
6.66 |
8.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27
|
0.19 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.45
|
3.03 |
3.63 |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
SHORT
TERM BORROWINGS |
|
|
|
Foreign
Currency Loan (Buyers Credit) (Note 3) |
139.740 |
27.120 |
|
Total
|
139.740 |
27.120 |
COMPANY OVERVIEW:
The company in the field of
turnkey execution - from design, detail engineering, manufacture, supply,
installation, testing and commissioning of complete range of Hydro mechanical
equipment of hydro electric power and irrigation projects . The company is also
diversified in the real estate, hotel and infra structures segments.
BUSINESS
The strength of
the Company lies in identification, execution and successful implementation of
the projects in the infrastructure space. To strengthen the long-term projects
and ensuring sustainable growth in assets and revenue, it is important for the
Company to evaluate various opportunities in the different business verticals
in which the Company operates. The Company currently has several projects under
implementation and continues to explore newer opportunities, both domestic and
international. The Board of Directors considers this to be in strategic
interest of the Company and believe that this will greatly enhance the
long-term shareholders’ value. At present the Company operates in three business
sectors- Heavy Engineering cum construction, Real Estate and Infrastructure
Projects.
The Company has
reported a Profit Before Tax (PBT) of Rs.287.300 millions, as against
Rs.370.900 millions in the previous year. The increased finance cost and
stressed the surge proportionate to surge in turnover.
DIVISIONAL
ANALYSIS
ENGINEERING
DIVISION
The Turnover of
this division this year is Rs.1836.500 millions and profit is Rs.180.300
millions against Turnover of Rs.2246.900 millions and profit is Rs.265.000 millions
in the last year. The Engineering Division focuses on turnkey engineering
procurement and construction contracts for Hydro mechanical equipment for Hydro
Power and Irrigation projects. The Company post qualification in civil work for
dam will qualify for complete EPC for dam except EM package and shall address a
larger share of hydro power project. This is a feat for diversifying in the
civil construction space and the Company will not have to take recourse to
civil companies for meeting PQ norms for bidding in civil space. The Company is
now all geared up to encash the burgeoning opportunities in executing complete
EPC contract in the space of H M components and civil structure as well for
Hydro projects of 38000 MW power generation planned in next 10 years by GOI.
The projects in Hydro power space involve multifarious activities viz. civil
construction, electromechanical component and Hydro mechanical equipments. the
company also doing EPC for road project and this will further increase the
addressing area in infra space.
REAL ESTATE,
HOTELS AND MULTIPLEX
The Turnover of
this division this year is Rs.337.900 millions and profit is Rs.60.000 millions
against Turnover of Rs.86.600 millions and profit is Rs.21.300 millions in the
last year.
The turnover from
hotel Om Tower in Jaipur and Multiplex in Kota remained at same levels. With
the revival in economical growth –revenue is expected to increase buoyed by
increasing domestic and international tourism ahead.
Though in real
estate front they have not seen any major revenue generation but they launched
another residential project Om Urban Heights” the response of which is very
motivating.
The company has
started construction on premium and prestigious land in Jaipur for developing
state of the art high end residential apartments. Top notch agencies have been
hired in every field for timely completion of project.
In Mumbai Bandra
project-Post CRZ and MOEF clearance – other statutory clearance and extensions
from SRA and other different agencies are on fast track and they have
successfully constructed the temporary transit camps for shifting slum dwellers
and this will pave the way to begin construction activities of rehab apartments
and commercially roll out sellable apartments in Bandra Reclamation- A project
initiated by MHADA.
Future plans
Going ahead, the
Company aims to further enhance its skill-sets, core strengths, capacity
enhancement, Build a fleet of construction equipments to effectively and
efficiently tackle even bigger and more complex projects in this niche space,
within and outside India.
The Company is all
geared up to encash the burgeoning opportunities in the Hydro Mechanical
segment and utilise the PQ earned from Kalisindh project in Civil space by
providing turnkey solution in civil as well as Hydro mechanical space to
minimum 38,000 MW additional Hydel power generation planned in next 10 years by
GOI. The consortium formed between the company and SPML Infra remained L1 and
has been awarded a LOI for development of 70 MW lignite based thermal project
in Rajasthan. The lease income from Inox is continuing in Multiplex and hotel
in jaipur is doing satisfactory business and they are confidante of surge in
tourism industry.
OTHER REAL ESTATE
PROJECTS IN DIFFERENT SPV’S ARE DISCUSSED IN SUBSIDARY SECTION.
Liquidity
The proceeds from
the allotment of 20000000 shares at Rs.60/- share to QIB’s (Qualified
Institutional Buyers) was partly utilized in capacity expansion in Engineering
division and real estate developments. The partial proceeds have been invested
in Subsidiary company and liquid funds and they are awaiting potential
overseas/domestic Business acquisition opportunity to utilize the available
credit limits.
Out strong cash flows enable them to manage financial and business risks.
SUBSIDIARIES
OM Metals
Consortium Private Limited – This 100% subsidiary Company is developing a high
end residential project on a very prime parcel of 19000 sq mt land at Statue
circle Jaipur. It has hired the company as EPC Contractor for structure
building under architectural leadership of Studio 18, a renowned architecture
firm of USA. The construction is in progress and scheduled for completion with
in 36 month.
OM Metals Real
Estate Private Limited This 100% subsidiary is holding stakes in different
SPV’s for different projects in Hyderabad, Faridabad,Jaipur. The development of
all these projects are in some stages of clearances.
STEP
SUBSIDIARIES/ASSOCIATES
Om Metals Ratnakar
Private Limited – a step subsidiary 9467 sq ft office space in Prime and aesthetic NBCC
plaza, Delhi purchased in this 100% subsidiary to house the entire corporate
and business development affairs of the Group, is fully functional and
contributing to expansion and diversification of the company in high potential
areas.
Om Hydromech
Private Limited a step subsidiary -An industrial land has been acquired in Bhilai from
Bank of Baroda in open auction for setting up fabrication yard as a expansion
mode. Bank of Baroda is unable to give clear title of the land and they have approached
DRT for refund of the auction money . The matter is pending at court.
Om Automotors
Private Limited: a step subsidiary- This company has acquired office space at Jaipur.
Om Kothari Hotels
Private Limited: a step subsidiary -During the year the company purchased a plot for
construction of flats. The approval of map is pending with UIT, Kota and hope
the construction shall be started in the second quarter of 2012.
Om Metals
Developer Private Limited – Post development agreement with Mahindra life
space for residential housing project at Hyderabad on 25:75 basis-the developer
is speedily endeavouring for statutory clearances and drawing approvals.
OM Shivay Real
Estate Private Limited With the completion of the flyover at Badarpur near
Faridabad, the traffic congestion has gone down considerably. And it has also
eased the accessibility to the plot nearby. Minor litigation on the verge of
the final hearing in local court.
NKP holding
(Private) Limited 3000 sq. Mt land in NCR near Delhi-Faridabad boarder is in possession
with the company where they hold 50% ownership through OREPL. The land is
suitable for corporate park and is adjacent to the land owned by their
associate Om Shivay Real estate (Private) Limited
Om Sansation
Properties (Private) Limited This company owns agricultural land in Andra
Pradesh and their ownership in this company is 25%.
Sanmati Buildcon
(Private) Limited 33 acre appx land is owned by this company in Sohna District Gurgaon
(Haryana) and they own 33.33% in this company.
PARTNERSHIPS
OM Metals
Consortium- This prestigious partnership firm for development of SRA project in
Bandra Reclamation facing Bandra-Worli sea Link has completed the construction
of the temporary transit camp and is expecting to shift the slums dwellers by
the end of the current FY. The construction of the sellable apartments will
take place later on during the year once the LOI conditions are fully met..
OTHER SPV’S
Pondicherry Port
Limited An SPV earmarked for the development of sea port in Pudducherry. All
the statutory approvals when in place shall enable the company start the
project.
Sanmati
Infradeveloper Private Limited – This SPV wherein they own 25% stake along with other
stake holders Subhash Projects (25%) and Urban Infrastructure Trustees Limited
(UITL) (50%) is a holding company of Pondicherry SEZ Co. Limited (PSEZCL).
PSEZCL owns a multi product SEZ in Pudduchery where 840 acre land has been
acquired and balance 26 acre is pending. They are awaiting formal notification
from Ministry of Commerce.
Bhilwara Jaipur
Toll Road Private Limited The construction of the 212 km road project in
Jaipur-Bhilwara Stretch is in progress and the funding has been tied up from
ICICI Bank and Punjab National Bank jointly. Om metals is doing the entire EPC
for this road project.
OM Metals-SPML
Infraprojects Private Limited A 4570.000 millions Kalisindh Dam project in a SPV
created with SPML infra on 50:50 is running in full swing and Om Metals has
been executing EPC contract for major work.
COMPANIES CEASED TO
BE SUBSIDIARIES:
1. Om Metal Auto
Private Limited with effect from 30.09.2011
2. Om Gaima Projects Private Limited with effect from 15.07.2011
JOINT VENTURES AND
FOREIGN COLLABORATIONS
Foreign
Collaboration
·
ATB Riva Calzoni SpA, Italy
·
JSC Ukr Hydro Mech, Ukraine
Domestic JVs
OMIL JSC JV This JV is
executing project for NEEPCO in Kameng HE Project.
Om Ray JV This JV is
executing project in Karnataka.
OM METALS SEW JV: This JV created
for project in Sripad Sagar (AP) has been executing project in full swing.
CONTINGENT LIABILITIES (NOT PROVIDED FOR) IN RESPECT OF
FOLLOWING:
|
S. No. |
Particulars |
As
at 31.03.2012 (Rs.
in millions) |
As
at 31.03.2011 (Rs.
in millions) |
|
i) |
Outstanding bank
guarantee |
1594.294 |
1699.111 |
|
ii) |
Letter of credits
accepted |
297.090 |
333.428 |
|
iii) |
Claims against the
Company not acknowledged a debt relating to supplies
and service matters including counter claims of project authorities. |
137.306 |
137.306 |
|
iv) |
Various labour cases |
Amount not ascertainable |
Amount not ascertainable |
|
v) |
Show cause/demand/notices
by excise department, service tax, income tax
authorities being disputed
by the company. (Net) |
368.008 |
392.939 |
|
vi) |
Outstanding Corporate Guarantee |
2560.000 |
500.000 |
UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST DECEMBER, 2012
PART I
(Rs. in millions)
|
S. No. |
Particulars |
Quarter Ended |
Year to Date |
|
|
31.12.2012 |
30.09.2012 |
31.12.2012 |
||
|
(Unaudited) |
||||
|
1 |
Income from operations |
|
|
|
|
|
a) Net sales/ Income from operations (Net of excise duty) |
903.127 |
670.054 |
2200.776 |
|
|
b) Other operating income |
7.498 |
13.201 |
24.682 |
|
|
Total income from operations (net) |
910.613 |
683.255 |
2225.460 |
|
|
|
|
|
|
|
2 |
Expenses |
|
|
|
|
|
(a) Cost of materials consumed |
346.362 |
194.269 |
677.490 |
|
|
(b) Purchases of stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
(c) Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(73.442) |
(31.138) |
46.623 |
|
|
(d) Employee benefits expense |
34.288 |
47.531 |
117.767 |
|
|
(e) Depreciation and amortisation expense |
24.317 |
24.062 |
70.823 |
|
|
(f) Other expenses (Any item exceeding 10% of the total expenses
relating to continuing operations to be shown separately) |
468.035 |
292.653 |
938.717 |
|
|
Total Expenses |
799.560 |
527.377 |
1851.420 |
|
3 |
Profit / (Loss) from operations before other income, finance costs and
exceptional items (1-2) |
111.093 |
155.878 |
374.040 |
|
4 |
Other Income |
7.764 |
1.688 |
13.708 |
|
5 |
Profit / (Loss) from ordinary activities before finance costs and exceptional items (3 + 4) |
118.817 |
157.566 |
387.748 |
|
6 |
Finance costs |
39.180 |
49.637 |
129.779 |
|
7 |
from / (Loss) from ordinary activities after finance costs but before
exceptional items (5 + 6) |
79.637 |
107.929 |
257.969 |
|
8 |
Exceptional Items |
(0.204) |
9.867 |
9.663 |
|
9 |
Profit / (Loss) from ordinary activities before tax (7 + 8) |
79.433 |
117.796 |
267.632 |
|
10 |
Tax expenses |
26.400 |
9.900 |
53.500 |
|
11 |
Net Profit / (Loss) from ordinary activities after tax (9 + 10) |
53.033 |
107.896 |
214.132 |
|
12 |
Extraordinary items (net of tax expense Rs….Lakhs) |
0.000 |
0.000 |
0.000 |
|
13 |
Net Profit / (Loss) for the period (11 + 12) |
53.033 |
107.896 |
214.132 |
|
14 |
Paid up Equity share capital (Face Value Re.1/-) |
96.304 |
96.304 |
96.304 |
|
15 |
Reserve excluding Revaluation reserve as per balance sheet of
previous accounting year |
4397.665 |
4344.632 |
4397.665 |
|
16.i |
Earning per share (EPS) before Extraordinary items of Re.1/-each) (not
annualized) |
|
|
|
|
|
a) Basic |
0.55 |
1.12 |
2.22 |
|
|
a) Diluted |
0.55 |
1.12 |
2.22 |
|
|
|
|
|
|
|
16.ii |
Earning per share (EPS) after Extraordinary items (of Re.1/- each) (not
annualized) |
|
|
|
|
|
a) Basic |
0.55 |
1.12 |
2.22 |
|
|
a) Diluted |
0.55 |
1.12 |
2.22 |
Notes:
1.
The construction contract of Jaipur Hi end Luxury
Residential Project with Shapoor ji Palonji is under speedy execution.
2.
Jaipur-Bhitwara
Road BOT project is progressing speedily and will be completed by next year.
3.
Chamera HEP (NHPC) has been completed and rest of
the NHPC Projects are on the verge of Completion.
4.
The
consolidation of JV/subsidiary shall be done on year end.
5.
**During the year ended 31.03.2012 the revise
schedule VI notified under the companies Act. 1956 has become applicable to the
company. It has significant impact on presentation and disclosures made in the
financial statements. Previous year/ quarter figures have been
regrouped/reclassified/Rearranged where ever necessary.
6.
The Company has secured its first contract in
Rawanda (Africa) for Rs.192.900 millions.
7.
The Provisions for Audit fees, gratuity, and
deferred tax would be made on yearly basis.
8.
The Revaluation reserve would be made on yearly
basis.
9.
The above results have been reviewed by audit
committee and taken on by the Board of directors on 14th February,
2013
SELECT INFORMATION FOR THE QUARTER ENDED 31st DECEMBER. 2012
PART II
|
S. No. |
PARTICULARS |
3 month ended |
Preceding 3 month ended |
|
|
|
31.12.2012 |
30.09.2012 |
|
|
|
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
1 |
Public Share Holding |
|
|
|
|
Numbers of Shares (Nos.) |
29247880 |
29247880 |
|
|
% of share holding |
30.37 |
30.37 |
|
2 |
Promoters and promoter group
Shareholding" |
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
Number of shares |
0.00 |
0.00 |
|
|
Percentage of shares (as a % of total share holding of promoter and
promoter group) |
0.00 |
0.00 |
|
|
Percentage of shares (as a % of total share Capital of the company) |
0.00 |
0.00 |
|
|
|
|
|
|
|
b) Non-Encumbered |
|
|
|
|
Number of shares |
67055929 |
67055929 |
|
|
Percentage of shares (as a % of total share holding of promoter and
promoter group) |
100.00 |
100.00 |
|
|
Percentage of shares (as a % of total share Capital of the company) |
69.63 |
69.63 |
|
|
PARTICULARS |
3 months ended 31.12.2012 |
|
B |
INVESTOR COMPLAINTS |
|
|
|
Pending at the beginning of the quarter |
NIL |
|
|
Received during the quarter |
NIL |
|
|
Disposed of during the quarter |
NIL |
|
|
Remaining unresolved at the end of the quarter |
NIL |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. in millions)
|
S. No. |
Particulars |
Quarter Ended |
Year to Date |
|
|
31.12.2012 |
30.09.2012 |
31.12.2012 |
||
|
(Unaudited) |
||||
|
1 |
Segment Revenue |
|
|
|
|
|
a) Engg. |
888.530 |
637.330 |
2123.466 |
|
|
b) Real Estate Division (incl. hotel & Multiplex) |
39.510 |
47.613 |
125.365 |
|
|
Total |
928.040 |
684.943 |
2248.831 |
|
|
Less: Inter Segment Revenue |
|
|
|
|
|
Net Sales/Income from operation |
928.040 |
684.943 |
2248.831 |
|
2 |
Segment Result |
|
|
|
|
|
(Profit(+))(Loss(-))(Before Tax and
Interest from each segment) including exceptional Items |
|
|
|
|
|
|
|
|
|
|
|
a) Engg. |
108.148 |
152.760 |
370.073 |
|
|
b) Real Estate Division (incl. hotel & Multiplex) |
10.465 |
14.673 |
27.338 |
|
|
Total |
118.613 |
167.433 |
397.411 |
|
|
Less: |
|
|
|
|
|
1) Interest |
39.180 |
49.637 |
129.779 |
|
|
2) Other unallocable expenditure net of allocable income |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Total Profit Before Tax |
79.433 |
117.796 |
267.632 |
|
3 |
Capital Employed(Segment Assets-segment
liabilities |
|
|
|
|
|
|
|
|
|
|
|
a) Engg./infrastructure |
-- |
-- |
-- |
|
|
b) Real Estate Division (incl. hotel & Multiplex) |
-- |
-- |
-- |
|
|
c) Unallocable Asset less Liabilities |
-- |
-- |
-- |
|
|
Total |
-- |
-- |
-- |
1.
The segment report is prepared in accordance with
the Accounting Standard-17 "segment reporting" Issued by the
Institute of Chartered Accountants of India.
2.
Om Metals Auto Private Limited (Toyota Dealership)
has been discontinued as subsidiary and accordingly turnover not consolidated.
3.
The Divisional figures reclassified in terms of % of
total deployment of assets and accordingly hotel and multiplex included in real
estate division.
FIXED ASSETS:
·
Freehold Land
·
Leasehold Land including Tenancy
·
Agriculture Land
·
Building/ Temp. Labour Quarter
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Computer
·
Vehicle
·
Temp. Wooden Hut
WEBSITE DETAILS:
BACKGROUND
· Incorporated in 1971, Subject is a leading ISO 9001 Engineering Construction company with a strong presence in the Hydropower sector and experience spanning more than 3 decades
· Engaged in diversified activities such as execution of turnkey Hydro-mechanical contracts for Hydropower and Irrigation projects, Real Estate development and Infrastructure projects
· Successfully executed more than 45 Hydro-mechanical contracts for Hydro-power and Irrigation projects across the country, valued at more than USD 125 M
· De-risked its business model with acquisitions in the core business and foraying into Real Estate and Infrastructure sector (port and SEZ)
PROFILE:
Subject, is a conglomerate having diverse business activities and
interests related to Hydro mechanical equipments, turn key solutions for steel
fabrication, Hydro power developments, Real Estate, Leasing, Finance,
Entertainment centers, Hotels and tourism.
They are a leading ISO 9002 Company established in 1971 and a pioneer in
the field of turnkey execution from Design, Detailed Engineering, Manufacture,
Supply, Installation, Testing and Commissioning of complete range of
Hydromechanical equipments for Hydroelectric Power and Irrigation projects,
PHED, PWD and various Corporations. Subject has to its credentials more than 40
projects completed all over India and Abroad for Design, Manufacture, Supply,
Erection, Testing and Commissioning of Hydro-Mechanical Equipments.
Employing more than 100 managerial and technical personnel, and more
than 300 skilled and semi skilled manpower, OM Metals is fully capable and
resourceful to execute the projects of any magnitude timely and confidently.
They have key and critical plants, tools, equipments and manpower required to
execute turnkey contracts for small, medium and large hydro electric power
projects.
Om Metals is well acquainted with modernized methods of fabrication and
erection and have successfully completed the works in remote areas, difficult
climate and natural site conditions, logistics bottlenecks, difficult roads and
great distances.
KEY ACHIEVEMENTS
· In span of 35 years, Kothari Group has transformed into a multifaceted organization with market capitalization of more than USD 125 M in year 2007
· Om Metals has grossed in engineering sector alone a turnover of USD 25 M and is now targeting a turnover of USD 50 M
· Achieved a leading position in the field of execution of turnkey contracts for Hydromechanical equipment for Irrigation and Hydropower projects
· More than 50 Irrigation and Hydro Power projects successfully completed across the nation and abroad
· Currently involved in execution of Hydro-mechanical contracts of more than 2900 MW of Hydro-power projects
· All recent engineering construction contracts for HE projects completed within or even AHEAD of schedule
· Various other Construction Projects including Multiplex Cinema Project commissioned in record period of 6 months
· Employing more than 100 managerial and technical personnel and 350 skilled manpower
· Bagged prestigious contracts from organization like World Bank, NTPC, Ministry of External Affairs, NHPC, NEEPCO and others
· Profit making company since its incorporation
NEWS:
OM METALS FORAYS INTO NEPAL, BAGS SIKTA IRRIGATION PROJECT
Mumbai, March 21, 2013: Om Metals
Infraprojects Limited, India's leading hydro-mechanical engineering company
today announced that it has bagged a contract for hydro mechanical works worth
INR 540.000 millions from Ministry of water resources, Department of
Irrigation, Ministry of Nepal.
The order is for design, supply, fabrication, erection and
commissioning of hydromechanical works of headworks on Sikta Irrigation
project. The project is expected to be completed by June 2015.
The Sikta Irrigation Project is situated in the Banke
District of the Mid Western Development Region. The Project, with a cultivable
command area 33,766 hectare including the rehabilitation of Dunduwa Irrigation
system, constructed by Indian Cooperation Mission in 1964, would irrigate
almost all the low lands of the Banke District and its economic impact could be
significant for this development region. The Project area comprises 34 Village
Development Committees (VDCs) and the municipality of Nepalgunj, which is the
District head quarter.
Mr. Vikas Kothari, Director, Business Development said,
"This is our first order in the irrigation segment overseas, following our
first hryomechanical contract in Africa. Our order book now stands at
Rs.8000.000 millions. As part of our ongoing strategy we will continue bidding
for projects like these in India, and worldwide to enhance our portfolio."
About Om Metals Infraprojects Limited
Om Metals Infraprojects Limited (OCI) (BSE Code: 531092) is an ISO 9001 certified company, set up in 1971, has flourished into a front-runner hydro-mechanical engineering company in the country with many achievements to its credit. It has leveraged its capabilities and skills in the development and construction sectors, where, engineering, steel fabrication and turnkey projects form a significant component for hydro-electric power, irrigation and river linking projects coming up in the country and abroad. The company is also engaged in several real estate projects comprising of residential, commercial, entertainment, leisure and hotel formats in the country. In 2006, the company entered into the business of development of SEZ and a port at Pondicherry.
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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared by
: |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.