MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAPOORJI PALLONJI AND COMPANY LIMITED |
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|
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Registered
Office : |
70, Nagindas Master Road, Fort, Mumbai – 400 023, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 (Profit & Loss A/c) |
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Date of
Incorporation : |
23.01.1943 |
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Com. Reg. No.: |
11-003812 |
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Capital
Investment / Paid-up Capital : |
Rs.2040.204
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1943PLC003812 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39398C/ MUMS39389A |
|
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PAN No.: [Permanent Account No.] |
AAACS6994C/ AAACS9383H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Civil Construction Activity |
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|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (79) |
|
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 42877000 |
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|
|
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is the flagship company of the Shapoorji Pallonji Group. Subject is a well-established and reputed company having a fine track
record. There appears some dip in the profits during 2012. However, financial position of the company appears to be sound.
Fundamentals are strong and healthy. Directors are reported to be experienced
and respectable businessmen. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating: AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
March, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
March, 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Ganesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67490000 |
|
Date : |
16.04.2013 |
LOCATIONS
|
Registered Office : |
70, Nagindas Master Road, Fort, Mumbai – 400 023, Maharashtra, India |
|
Tel. No.: |
91-22-22871040 |
|
Fax No.: |
91-22-66338176 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Head/ Administrative Office/
Construction Division/ EPC Division 2/ Real Estate Division : |
Shapoorji Pallonji Centre, 41/44, MINOO Desai Marg, Colaba, Mumbai –
400 005, Maharashtra, India |
|
Tel. No.: |
91-22-22871040/ 41/ 22870197/ 67490000 |
|
Fax No.: |
91-22-66338176 |
|
E-Mail : |
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|
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|
Corporate Office
: |
36, 2nd Floor, 1st Main Road, CIT Nagar, Above SBI
Bank, Chennai, Tamilnadu, India |
|
Tel. No.: |
91-44-24341555 |
|
|
|
|
EPC Division 2 :
|
Mira Tower, 2nd Floor, DN-27, Sector V, Salt Lake, Kolkata
– 700 091, West Bengal, India |
|
Tel No.: |
91-33-66111200 |
|
Fax No.: |
91-33-23675248/ 66336442 |
|
|
|
|
Email : |
atanu.ranjan@shapoorji.com
(Mr. Atanu Ranjan) |
|
|
|
|
Design and Build
Division : |
Contractor Building, Basement, Ramjeebhai Kamani Marg, Ballard
Estate, Mumbai – 400 038, Maharashtra, India |
|
Tel No.: |
91-22-66233600 |
|
Fax No.: |
91--22-66233563 |
|
Email : |
paras.vishwakarma@shapoorji.com (Mr. Vishvakarma) |
|
|
|
|
Human Resources Department : |
Gresham House, 4th Floor, Sir PM Road, Fort, Mumbai – 400
001, |
|
Tel. No.: |
91-22-67490000 |
|
Fax No.: |
91-22-22662997 |
|
Email : |
|
|
|
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|
Showroom : |
54, Abdul Rehman Street, Mumbai – 400 003, Maharashtra, India |
|
Tel. No.: |
91-22-23421770 |
|
Fax No.: |
91-22-23421517 |
|
|
|
|
Design and Build
Office : |
Design and Build Contractor Building, 1st Floor, Ramjibhai Kamani
Marg, Ballared estate, Mumbai – 400 038, Maharashtra, India |
|
Tel No.: |
91-22-66233500 |
|
Fax No.: |
91-22-66233533 |
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|
|
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Regional Offices
: |
Located At: · Ahmedabad · Bangalore · Chennai · Delhi · Hyderabad · Kolkata · Mumbai · Nagpur · Nasik · Pune |
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Overseas Office:
|
Located At: · Dubai · Abu Dhabi · Kuwait · Algeria · Ghana · Saudi · Qatar · Libya · Sri Lanka |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Shapoor Pallonji Mistry |
|
Designation : |
Managing Director |
|
Address : |
Sterling Bay, 103, Walkeshwar Road, Mumbai
– 400 006, Maharashtra, India |
|
Date of
Birth/Age : |
06.09.1964 |
|
Qualification : |
B.A. (England) Business and Economics Richmond College, London |
|
Date of
Appointment : |
22.04.1987 |
|
DIN
No.: |
00010114 |
|
PAN
No.: |
AAEPM2061M |
|
|
|
|
Name : |
Mr. Khushroo Burjor Captain |
|
Designation : |
Director |
|
Address : |
D/4, Palm Springs, 157, Cuffe Parade, Colaba, Mumbai – 400 005,
Maharashtra, India |
|
Date of Birth/Age
: |
24.04.1930 |
|
Qualification : |
B.A. LLB |
|
Date of
Appointment : |
18.07.1984 |
|
DIN
No.: |
00007518 |
|
|
|
|
Name : |
Mr. Firoze Kavshah Bhathena |
|
Designation : |
Whole Time Director |
|
Address : |
C/203, Shapoorji Pallonji Mistry Building, Dr. D.K. Shirodkar Road,
Parel, Mumbai – 400 012, Maharashtra, India |
|
Date of
Birth/Age : |
18.07.1948 |
|
Qualification : |
B. Com., M. Com |
|
Date of
Appointment : |
18.07.1984 |
|
DIN No.: |
00010075 |
|
|
|
|
Name : |
Kekoo Homji Colah |
|
Designation : |
Whole Time Director |
|
Address : |
10, 2nd Floor, Meher Building, Opposite Dady Seth Road,
Chowpatty, Mumbai – 400 007, Maharashtra, India |
|
Date of
Birth/Age : |
03.10.1953 |
|
Date of
Appointment : |
12.07.2012 |
|
DIN No.: |
00377478 |
|
|
|
|
Name : |
Jai Laxmikant Mavani |
|
Designation : |
Whole Time Director |
|
Address : |
G-401, Royal Classic, Next to Fame Adlabs, New Link Road, Andheri
(West), Mumbai – 400 058, Maharashtra, India |
|
Date of Birth/Age
: |
04.09.1971 |
|
Date of
Appointment : |
12.07.2012 |
|
DIN No.: |
05260191 |
KEY EXECUTIVES
|
Name : |
Mr. Roshen Minocher Nentin |
|
Designation : |
Secretary |
|
Address : |
King’s Building, Dr. Ambedkar Road, Parel, Mumbai – 400 012,
Maharashtra, India |
|
Date of Birth/Age : |
12.12.1952 |
|
Date of Appointment : |
20.10.1978 |
|
PAN No.: |
AAAPN6921F |
|
|
|
|
Name : |
Mr. Ganesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Shapoor
Pallonji Mistry |
|
1081100 |
|
Cyrus
Pallonji Mistry |
|
1081100 |
|
Sterling
Investment Corporation Private Limited, India |
|
1346100 |
|
Cyrus
Investments Limited, India |
|
1346100 |
|
SC
Finance and Investments Private Limited, India |
|
50080900 |
|
SP
Finance Private Limited, India |
|
50080900 |
|
Blue Arrow
Finance Company Private Limited , India |
|
4000 |
|
Total |
|
105020200 |
|
Names of Shareholders
[Preference Shares] |
|
No. of Shares |
|
Shapoor Pallonji Mistry |
|
50000100 |
|
Cyrus Pallonji Mistry |
|
50000100 |
|
Total |
|
100000200 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
97.94 |
|
Directors
or relatives of directors |
|
2.06 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Civil Construction Activity |
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Products/ Services : |
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GENERAL INFORMATION
|
Customers : |
·
General Motors ·
BHEL ·
ISRO ·
RBI ·
SAIL ·
Skoda ·
TATA ·
Birla Institute ·
Bombay Hospitals ·
Can-Pack S.A. ·
Fiat ·
GVK ·
ITC ·
Kirloskar ·
Procter and Gamble ·
TAJ Hotels Resorts and Palaces |
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No. of Employees : |
Information denied by the management. |
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Bankers : |
·
Deutsche
Bank AG, 222, Kodak House, D.N. Road, Fort, Mumbai – 400 001, Maharashtra,
India ·
Axis Bank Limited, 2nd Floor,
Statesman House, 148, Barakhamba Road, New Delhi – 110 001, India ·
The Zoroastrian Co-Operative Bank Limited, Mumbai
Main Branch, Yusuf Building, Ground Floor, V.N. Road, Fort, Mumbai – 400 001,
Maharashtra, India |
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Facilities : |
NOTES: (A) (Secured by
hypothecation of specific assets) {Amount due within a year Rs.255.242
millions (Previous year Rs.227.113 millions)} (B) (Secured by English
Mortgage on flats under construction owned by the company and by
hypothecation of the Company's Stocks and book debts) (C) {Term loan
of Rs.1079.267 millions (Previous year Rs. Nil) secured by hypothecation of
specific assets and Rs.2590.000 millions (Previous year Rs.1500.000 millions)
secured by pledge of shares of Sterling and Wilson Limited, a subsidiary and
mortgage by deposit of Title Deeds of one of the Company's immoveable
properties) {Amount due within a year Rs.2766.410 millions (Previous year Rs.
Nil )} |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie
Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai-400 018, Maharashtra, India |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Subsidiaries (As on 31.03.2011) : |
·
Abhipreet Trading Private Limited, India (CIN
No.: U65990MH1988PTC049620) ·
Afcons (Overseas) Constructions and Investments
Private Limited, India (CIN No.: U45200MH1981PTC025100) ·
Afcons Infrastructure Limited, India (CIN No.:
U45200MH1976PLC019335) ·
Archaic Properties Private Limited, India (CIN
No.: U70100MH2006PTC161140) ·
Bengal Shapoorji Business Parks Private Limited,
India (CIN No.: U45208MH2008PTC177605) ·
Bengal Shapoorji Infrastructure Development
Private Limited, India (CIN No.: U45201MH2007PTC174881) ·
Chinsha Property Private Limited, India (CIN No.:
U70200MH1995PTC085932) ·
Cyrus Engineers Private Limited, India (CIN No.:
U28920MH1979PTC021425) ·
Delna Finance and Investments Private Limited,
India (CIN No.: U65990MH1991PTC063703) ·
Delphi Properties Private Limited, India (CIN
No.: U70102MH2008PTC180789) ·
DRASHTI DEVELOPERS PRIVATE LIMITED, India (CIN
No.: U70109MH2007PTC166942) ·
Empower Builder Private Limited, India (CIN No.:
U70200MH2007PTC166940) ·
Eureka Forbes Limited, India (CIN No.:
U27109WB1931PLC007010) ·
Fayland Estates Private Limited, India (CIN No.:
U70100MH1998PTC114760) ·
Firstrock Infrastructures Private Limited, India
(CIN No.: U45209MH2007PTC174251) ·
Flooraise Developers Private Limited, India (CIN
No.: U45200MH2005PTC158340) ·
Floral Finance Private Limited, India (CIN No.:
U65990MH1989PTC050954) ·
Floeat Investments Limited, India (CIN No.:
U65990MH1989PLC050983) ·
Flotilla Finance Private Limited, India (CIN No.:
U65970MH1989PTC050953) ·
Forbes and Company Limited, India (CIN No.:
L17110MH1919PLC000628) ·
Forbes Facility Services Private Limited, India
(CIN No.: U74930MH2004PTC147742) ·
Forvol International Services Limited, India (CIN
No.: U55100MH1977PLC019660) ·
Gossip Properties Private Limited, India (CIN
No.: U70102MH2007PTC174361) ·
High Point Properties Limited, India (CIN No.:
U70100MH2005PLC155606) ·
Khvafar Investments Private Limited, India (CIN
No.: U67120MH1995PTC084747) ·
Magpie Finance Private Limited, India (CIN No.:
U65990MH1989PTC050966) ·
Make Home Realty and Construction Private
Limited, India (CIN No.: U45400MH2007PTC170820) ·
Manjri Developers Private Limited, India (CIN
No.: U45200MH2006PTC160662) ·
Manjri Horse Breeders' Farm Private Limited,
India (CIN No.: U01210MH2007PTC174746) ·
Mazson Builders and Developers Private Limited,
India (CIN No.: U70100MH1996PTC098263) ·
Meriland Estates Private Limited, India (CIN No.:
U70100MH1998PTC114759) ·
Mileage Properties Private Limited, India (CIN
No.: U70102MH2007PTC174360) ·
Miracletouch Developers Private Limited, India
(CIN No.: U70200MH2008PTC181744) ·
Mydream Properties Private Limited, India (CIN
No.: U45201MH2006PTC166246) ·
Palchin Real Estates Private Limited, India (CIN
No.: U70200MH1995PTC084751) ·
Phenomenon Developers Private Limited, India (CIN
No.: U45400MH2007PTC170822) ·
Precaution Properties Private Limited, India (CIN
No.: U70102MH2007PTC174823) ·
Relationship Properties Private Limited, India
(CIN No.: U45200MH2008PTC178830) ·
S C Impex Private Limited, India (CIN No.:
U51900MH1979PTC021128) ·
Shachin Real Estates Private Limited, India (CIN
No.: U70200MH1995PTC084876) ·
Shapoorji and Company Private Limited, India (CIN
No.: U51101MH1943PTC003837) ·
Shapoorji Data Processing Private Limited, India
(CIN No.: U74999MH1985PTC037814) ·
Shapoorji Hotels Private Limited, India (CIN No.:
U55200MH1993PTC072856) ·
Shapoorji Pallonji Ports Private Limited, India
(CIN No.: U71120MH2003PTC140411) ·
Shapoorji Pallonji (Gwalior) Private Limited,
India (CIN No.: U51900MH1944PTC020365) ·
Shapoorji Pallonji Cement (Gujarat) Private
Limited, India (CIN No.: U26941GJ2008PTC054061) ·
Shapoorji Pallonji Energy (Gujarat) Private
Limited, India (CIN No.: U40100GJ2008PTC054060) ·
Shapoorji Pallonji Industrial Park Private
Limited, India (CIN No.: U45209GJ2008PTC054828) ·
Shapoorji Pallonji Infrastructure (Gujarat)
Private Limited, India (CIN No.: U45201GJ2008PTC054063) ·
Shapoorji Pallonji Infrastructure Capital Company
Limited, India (CIN No.: U65990MH1997PLC108596) ·
Shapoorji Pallonji Investment Advisors Private
Limited, India (CIN No.: U74900MH2008PTC178074) ·
Shapoorji Pallonji Libya JSC, Libyan Arab
Jamahiriya ·
Shapoorji Pallonji Roads Private Limited, India
(CIN No.: U45203MH2010PTC202625) ·
Shapoorji Pallonji Solar PV Private Limited,
India (CIN No.: U40300MH2010PTC202812) ·
Shapoorji Pallonji Solar Thermal Private Limited,
India (CIN No.: U40106MH2010PTC202600) ·
Sharus Building Services India Private Limited,
India (CIN No.: U51432MH1999PTC121951) ·
Simar Energy (Gujarat) Private Limited, India
(CIN No.: U40100GJ2008PTC054923) ·
Simar Port Private Limited, India (CIN No.:
U35110GJ2008PTC054507) ·
SP Agri Management Services Private Limited,
India (CIN No.: U01403MH2007PTC175890) ·
SP Aluminium Systems Private Limited, India (CIN
No.: U27203MH1995PTC095322) ·
SP Architectural Coatings Private Limited, India
(CIN No.: U67120MH1993PTC073102) ·
SP Biofuel Ventures Private Limited, India (CIN
No.: U01112GJ2008PTC054062) ·
SP Bio Sciences Private Limited, India (CIN No.:
U67120MH1996PTC101707) ·
SP Fabricators Private Limited, India (CIN No.:
U25192MH1993PTC072591) ·
SP Simar Infrastructure Zone Private Limited,
India (CIN No.: U45201GJ2008PTC054483) ·
SP Jammu Udhampur Highway Private Limited, India
(CIN No.: U45400DL2010PTC204746) ·
Steppe Developers Private Limited, India (CIN
No.: U70102MH2008PTC18073) ·
Sterling and Wilson Limited, India (CIN No.:
U31200MH1974PLC017538) ·
Sterling and Wilson Powergen Private Limited,
India (CIN No.: U70100MH1995PTC088637) ·
Sterling Generators Private Limited, India (CIN
No.: U99999MH1995PTC085899) ·
Sterling Industries FZ LLC, United Arab Emirates ·
Sunny View Estates Private Limited, India (CIN
No.: U70100MH1998PTC114964) ·
Think Ahead Properties Private Limited, India
(CIN No.: U45202MH2008PTC177533) ·
United Motors (India) Limited, India (CIN No.:
U28100MH1920PLC000807) ·
Universal Mine Developers and Service Providers
Private Limited, India (CIN No.: U10100MH2008PTC184554) ·
Volkart Fleming Shipping and Services Limited,
India (CIN No.: U63090MH1920PLC000808) ·
Shapoorji Pallonji International FZE, United Arab
Emirates ·
SP Ports Private Limited, India (CIn No.:
U45400MH2010PTC204065) |
|
|
|
|
Associates (As on 31.03.2011) : |
·
Awesome Properties Private Limited, India (CIN
No.: U70109MH2008PTC180163) ·
Bengal Shapoorji Housing Development Private
Limited, India (CIN No.: U65990MH1988PTC049619) ·
Joyous Housing Limited, India (CIN No.:
U70100MH1995PLC092856) ·
Sharus Steel Products Private Limited, India (CIN
No.: U27100MH2005PTC158330) ·
SD Corporation Private Limited, India (CIN No.:
U70109MH1998PTC116091) ·
Trichy Tollway Private Limited, India (CIN No.:
U45200AP2006PTC049847) ·
Shapoorji Pallonji Mideast LLC, United Arab
Emirates ·
Grand View Estates Private Limited, India (CIN
No.: U70100MH1998PTC114764) ·
Natural Oil Ventures Co Limited, Mauritius ·
S D Recreational Services Private Limited, India
(CIN No.: U92490MH2009PTC190940) |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives (As on 31.03.2011): |
·
Advance Tech Energy Additives Private Limited,
India (CIN No.: U74999MH1993PTC071499) ·
Anand Agencies Private Limited, India (CIN No.:
U51909MH1962PTC012486) ·
Cyrus Investments Limited, India (CIN No.:
U65920MH1923PLC001053) ·
Pallonji Shapoorji and Company Private Limited,
India (CIN No.: U45200MH1951PTC008529) ·
Sterling Investment Corporation Private Limited, India
(CIN No.: U70100MH1943PTC003997) |
|
|
|
|
Joint Venture (As on 31.03.2011) : |
·
Nuevo Consultancy Services Limited, India (CIN
No.: U70200MH2003PLC139672) ·
LCI â€" Shapoorji Pallonji Joint Venture,
India |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
105050000 |
Equity Shares |
Rs.10/- each |
Rs.1050.500
millions |
|
100000200 |
Preference Shares |
Rs.10/- each |
Rs.1000.002
millions |
|
|
Total
|
|
Rs.2050.502 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
105020200 |
Equity Shares |
Rs.10/- each |
Rs.1050.202
millions |
|
100000200 |
Preference Shares |
Rs.10/- each |
Rs.1000.002
millions |
|
|
Total
|
|
Rs.2050.204 millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
105050000 |
Equity Shares |
Rs.10/- each |
Rs.1050.500
millions |
|
100000200 |
0.5% Non-Cumulative,
Non-Convertible, Redeemable Preference Shares |
Rs.10/- each |
Rs.1000.002
millions |
|
|
Total
|
|
Rs.2050.502 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
104020200 |
Equity Shares |
Rs.10/- each |
Rs.1040.202
millions |
|
100000200 |
0.5%
Non-Cumulative, Non-Convertible, Redeemable Preference Shares |
Rs.10/- each |
Rs.1000.002
millions |
|
|
Total
|
|
Rs.2040.204 millions |
NOTES:
100000000 0.5% Non-Cumulative,
Non-Convertible, Redeemable Preference Shares of Rs.10/- each fully paid-up
(The Preference Shares shall be redeemable at par at the option of the company
at any time after allotment but not later than 20 years from the date of
allotment viz; January 28, 2008)
104020200 Equity
Shares of Rs.10/-each fully paid-up (of the above, 700000 Shares of Rs.10/-each
are allotted as fully paid-up Bonus Shares by Capitalisation of General
Reserve)
200 6.5% Non
cumulative Convertible Preference Shares of Rs.10/- each fully paid up (The
Preference Shares are convertible after 2 years but not later than 20 years
from the date of allotment viz; October 27, 2010)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2040.204 |
2030.200 |
|
|
2] Share Application Money Pending Allotment |
|
0.000 |
0.004 |
|
|
3] Reserves & Surplus |
|
8678.955 |
5519.473 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10719.159 |
7549.677 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
4337.352 |
2542.720 |
|
|
2] Unsecured Loans |
|
21661.360 |
13736.707 |
|
|
TOTAL BORROWING |
|
25998.712 |
16279.427 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
36717.871 |
23829.104 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2227.508 |
1854.322 |
|
|
Capital work-in-progress |
|
13.741 |
2.246 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
11044.989 |
7623.397 |
|
|
DEFERRED TAX ASSETS |
|
334.542 |
288.714 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
8993.442
|
4930.426 |
|
|
Sundry Debtors |
|
11597.107
|
10387.327 |
|
|
Cash & Bank Balances |
|
2319.898
|
1783.544 |
|
|
Other Current Assets |
|
858.275
|
754.091 |
|
|
Loans & Advances |
|
18043.794
|
13437.503 |
|
Total
Current Assets |
|
41812.516
|
31292.891 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
8405.239
|
6316.334 |
|
|
Other Current Liabilities |
|
9794.391
|
10519.517 |
|
|
Provisions |
|
515.795
|
396.615 |
|
Total
Current Liabilities |
|
18715.425
|
17232.466 |
|
|
Net Current Assets |
|
23097.091
|
14060.425 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
36717.871 |
23829.104 |
|
NOTE: Balance
Sheet for the year 2012 is not available only Profit & Loss A/c is
available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
41181.935 |
32206.823 |
26938.952 |
|
|
|
Other Income |
3295.973 |
2944.885 |
1679.619 |
|
|
|
TOTAL (A) |
44477.908 |
35151.708 |
28618.571 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
35304.639 |
26870.858 |
|
|
|
|
Purchases of stock-in-trade |
7.136 |
41.383 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
438.116 |
407.473 |
|
|
|
|
Employee benefit expense |
3529.304 |
2717.854 |
|
|
|
|
Other Expenses |
917.805 |
1063.600 |
|
|
|
|
TOTAL (B) |
40197.000 |
31101.168 |
24850.802 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4280.908 |
4050.540 |
3767.769 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3330.334 |
2176.104 |
1717.935 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
950.574 |
1874.436 |
2049.834 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
426.741 |
347.068 |
294.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
523.833 |
1527.368 |
1755.538 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(197.572) |
40.187 |
636.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
721.405 |
1487.181 |
1118.741 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
6690.599 |
5203.418 |
3863.862 |
|
|
|
|
|
|
|
|
|
|
ADJUSTMENTS
RELATED MERGER ACQUISITIONS |
NA |
0.000 |
220.815 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
6690.599 |
5203.418 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Technical Know-how fees |
28.555 |
8.964 |
76.151 |
|
|
|
Construction income |
434.513 |
72.360 |
|
|
|
|
Interest income |
1.196 |
24.910 |
|
|
|
|
Miscellaneous income |
0.317 |
0.501 |
|
|
|
TOTAL EARNINGS |
464.581 |
106.735 |
76.151 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
117.046 |
46.935 |
NA |
|
|
|
Components and spare parts |
5.265 |
6.071 |
NA |
|
|
|
Capital Goods |
309.654 |
20.845 |
NA |
|
|
TOTAL IMPORTS |
431.965 |
73.851 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
6.93 |
14.40 |
10.86 |
|
|
|
- Diluted |
6.87 |
14.32 |
10.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.62
|
4.23
|
3.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.27
|
4.74
|
6.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.47
|
5.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.14
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
2.43
|
2.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.23
|
1.82 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
Sundry Creditors |
|
|
|
Creditors due small micro enterprises |
7.860 |
5.414 |
|
Creditors due others |
8397.379 |
6310.920 |
|
TOTAL |
8405.239 |
6316.334 |
|
Sr. No. |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2011 [Rs. in Millions] |
31.03.2010 [Rs. in Millions] |
|
Fully convertible debentures unsecured |
(A) 3883.800 |
0.000 |
|
Rupee term loans banks unsecured |
15124.557 |
9936.007 |
|
Rupee term loans others unsecured |
(B) 1081.448 |
1793.447 |
|
Other debt unsecured |
(C) 1475.229 |
1954.201 |
|
Interest accrued due other debt unsecured |
96.326 |
53.052 |
|
Total |
21661.360 |
13736.707 |
NOTES:
(A) (The debenture
is compulsorily convertible into 1000000 equity shares of Rs.10/- each at a
premium of Rs.3873.80 per share at any time after the date of allotment viz
October 27, 2010, but on or before March 31, 2012)
(B) {Including
Rs.19447300 (Previous year Rs.616.447 millions) from Directors and a loan of
Rs.300.000 millions (Previous year Rs.300.000 millions) covered by as
undertaking of non-disposal of certain investments by Managing Directors}
(C) Commercial
paper is net of discount not written off on them. Discount not written off on
commercial paper for CY- Rs.24.771 millions and PY-Rs.45.799 millions and
Maximum outstanding during the year Rs.2500.000 millions (Previous year
Rs.2000.000 millions)
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U45200MH1943PLC003812 |
|
Name of the company |
SHAPOORJI PALLONJI AND COMPANY LIMITED |
|
Address of the registered office or of the
principal place of business in |
70, Nagindas Master Road, Fort, Mumbai – 400 023, Maharashtra, India E-Mail: prachi.kelkar@shapoorji.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property |
|
Particular of charge holder |
CIN No.: L65110GJ1993PLC020769 Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi – 110 001, India E-Mail: aziz.fidai@axisbank.com |
|
Nature of description of the instrument
creating or modifying the charge |
Memorandum of Entry dated 30th
October, 2012, executed between the company and the Bank for loan availed by
Skyscape Developers Private Limited. |
|
Date of instrument Creating the charge |
30.10.2012 |
|
Amount secured by the charge |
Rs.2000.000 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: Base Rate +5.50% p.a. (Presently 15.50%)
payable monthly. Terms of Repayment: Moratorium: 2 years from the date of 1st
disbursement. Repayment Schedule: 3 equal half yearly
installments after the moratorium period. Margin: As per deposit of Title Deeds. Extent and Operation of the charge: As per deposit of Title Deeds. |
|
Short particulars of the property charged |
Plot No: CP-7, Sector 8, IMT Manesar,
Gurgaon, Haryana (admeasuring 38212 sq. mts) for loan availed by Skyscape
Developers Private Limited. |
FIXED ASSETS:
Tangible Assets:
·
Land and Land Improvements
·
Building and Building Improvements
·
Plant and Machinery
·
Office Equipments
·
Computer Equipments
·
Furniture and Fixtures
·
Vehicles
Intangible Assets:
·
Computer Software
NEWS:
HPCL TO PARTNER SHAPOORJI
PALLONJI GROUP FOR LNG TERMINAL
MARCH 6, 2013
State-owned
Hindustan Petroleum Corp Limited (HPCL) and Mumbai-based infrastructure major
Shapoorji Pallonji plan to set up a terminal for import of liquid gas (LNG) on
Gujarat coast at a cost of Rs 50000.000 Millions.
HPCL and SP Ports
Private Limited, a unit of Shapoorji Pallonji Group, plan to set up the
liquefied natural gas (LNG) import terminal at Chhara in Gujarat’s Junagadh
district through a 50-50 joint venture, sources privy to the development said.
SP Ports is
already developing a Greenfield, all weather, direct berthing port in Junagadh
district. HPCL and SP Ports are carrying out a detailed feasibility study for
establishing technical and commercial viability of setting up an LNG import and
regasification terminal of 5 million tonnes per annum capacity at the proposed
Port, the sources said.
The port is
connected to a gas pipeline grid and evacuation of the fuel would not be an
issue, they said.
Gujarat already has
two functional ports at Dahej and Hazira. A third one is being planned by
Gujarat State Petroleum Corp (GSPC) and Larsen & Toubro (L and T) at
Mundra. The Chhara terminal would be the fourth in the state.
The sources said
the Chhara import terminal may take a minimum of three years to build.
India has three
operational LNG import facilities — a 10 million tonnes unit at Dahej operated
by Petronet LNG Limited (PLL); a 3.6 million tonnes terminal of Shell-Total at
Hazira in Gujarat, and a newly commissioned 5 million tonnes facility at Dahbol
in Maharashtra.
A similar
capacity import facility will come up at Kochi in Kerala this year.
Currently, both
PLL’s terminal at Dahej, and Shell-Total’s terminal at Hazira in Gujarat are
under expansion to 15 million tonnes and 5 million tonnes capacity,
respectively.
Even Dabhol is
proposed to be expanded to 10 million tonnes.
Also, GAIL and
Shell are putting up separate floating LNG terminal at Kakianda, off Andhra
Pradesh coast, while Petronet is building one at Gangavaram in the same state.
State-owned
Indian Oil Corp (IOC) is building an LNG terminal in Ennore, near Chennai, with
a capacity of 5 million tonnes at an estimated cost of Rs 43200.000 Millions.
It is to be
commissioned in 2016. GSPC is also planning to commission an LNG terminal with
a capacity of 5 million tonnes at Mundra by 2015-16.
The rush for LNG
terminals is because domestic natural gas production (close to 144 million
standard cubic meters per day) is meeting just half the demand. The demand for
gas is projected to grow exponentially in future.
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] 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.54.33 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
79 |
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.