MIRA INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARADEEP PHOSPHATES LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Orissa State, Handloom Weavers, Cooperative Building,
Pandit J. N Marg, Bhubaneswar – 751001, Orissa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.12.1981 |
|
|
|
|
Com. Reg. No.: |
15-001020 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 5754.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24129OR1981PLC001020 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP3276D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Di-ammonium Phosphate and Complex
Fertilizers of NPK Grades. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 41500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Zuari Maroc Phosphates Limited”. It is a well established company having a satisfactory track record.
Financial position of the company seems to be improving. The company gets
strong managerial and financial support from Holding Company. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered for normal business 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Fund based : (ICRA) BBB+ |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation. It carry moderate credit risk. |
|
Date |
August 2011 |
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/ Corporate Office : |
5th Floor, |
|
Tel. No.: |
91-674-2393931 |
|
Fax No.: |
91-674-2392631/ 2391669/ 2394987/ 2398392 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-6722-229600 |
|
Fax No.: |
91-6722-229625/ 229605 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at: Ø Andhra Pradesh Ø Bihar Ø Chattisgarh Ø Jharkhand Ø Madhya Pradesh Ø Maharashtra Ø Nashik Ø Orissa Ø Siliguri Ø Uttar Pradesh (Central) Ø Uttar Pradesh (East) Ø Uttar Pradesh (West) Ø Vijayawada Ø West Bengal |
DIRECTORS
AS ON 21.09.2012
|
Name : |
Mr. Harbachan Singh Bawa |
|
Designation : |
Chairman |
|
Address : |
B – 3, Maharani Bagh, New Delhi – 110065, India |
|
Date of Birth/Age : |
20.03.1931 |
|
Qualification : |
Master Degree in
Chemical Engineering (USA) |
|
Date of Appointment : |
28.02.2002 |
|
Voter ID No.: |
DL/02/006/156567 |
|
DIN No.: |
00244222 |
|
|
|
|
Name : |
Mr. Sharachchandra Shrikrishna Nandurdikar |
|
Designation : |
Managing director |
|
Address : |
49/2, Friends Colony (East), Mathura Road, Delhi – 110065, India |
|
Date of Birth/Age : |
09.09.1945 |
|
Qualification : |
(1) B. Tech. in
Mechanical Engineering from IIT, Mumbai (2) P.G Diploma
in Industrial Management from Bajaj Institute of Management, Mumbai. |
|
Date of Appointment : |
01.09.2004 |
|
PAN No.: |
AAQPN5214K |
|
DIN No.: |
00148427 |
|
|
|
|
Name : |
Mr. Akshay Poddar |
|
Designation : |
Nominee director |
|
Address : |
Poddar Niket 2, Gurusaday Road, Kolkata - 700019, West Bengal, India |
|
Date of Birth/Age : |
20.07.1976 |
|
Qualification : |
Honours Graduate
in Accounting & Finance, London School of Economics and Political
Science, London. |
|
Date of Appointment : |
28.02.2002 |
|
Voter ID No.: |
DWK1135508 |
|
DIN No.: |
00008686 |
|
|
|
|
Name : |
Marco Philippus Ardeshir Wadia |
|
Designation : |
Nominee director |
|
Address : |
Thakur Nivas 1763, Jamshedj Tata Road, Mumbai – 400020, Maharashtra,
India |
|
Date of Birth/Age : |
30.01.1956 |
|
Qualification : |
B.A (Hons.), LL.B |
|
Date of Appointment : |
21.03.2006 |
|
DIN No.: |
00244357 |
|
|
|
|
Name : |
Mr. Mohamed Ibnabdeljalil |
|
Designation : |
Nominee director |
|
Address : |
Romandie 2 Tour Koweit No. 82, BD Biranzarane Casablance, Morocco |
|
Date of Birth/Age : |
12.09.1964 |
|
Date of Appointment : |
20.12.2006 |
|
DIN No.: |
00965743 |
|
|
|
|
Name : |
Youssef El Bari |
|
Designation : |
Nominee director |
|
Address : |
No. 170, Rue Kourtobahay, Andalouss, Temara, Morocco |
|
Date of Birth/Age : |
10.07.1977 |
|
Qualification : |
( 1 ) Ecole
Polytechnic (2) Master in
Finance |
|
Date of Appointment : |
19.02.2010 |
|
DIN No.: |
03012930 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Sinha |
|
Designation : |
Nominee director |
|
Address : |
D-II/122, West Kidwai Nagar, New Delhi – 110023, India |
|
Date of Birth/Age : |
01.07.1967 |
|
Qualification : |
Indian Forest Service |
|
Date of Appointment : |
06.05.2010 |
|
DIN No.: |
02043644 |
|
|
|
|
Name : |
Hassan Hamri |
|
Designation : |
Nominee director |
|
Address : |
BD Bir Anzarane Apartment, 161, Res Youssoufia Maarif Casablanca
Morocco |
|
Date of Birth/Age : |
01.11.1965 |
|
Date of Appointment : |
12.06.2012 |
|
DIN No.: |
05301038 |
|
|
|
|
Name : |
Mr. Neeraj Singhal |
|
Designation : |
Nominee director |
|
Address : |
7/8, Block-A, Multi Storied Flats Peshwa Road, New Delhi – 110001, India
|
|
Date of Birth/Age : |
02.10.1969 |
|
Date of Appointment : |
26.07.2012 |
|
Voter ID No.: |
SJE0037572 |
|
DIN No.: |
05334230 |
KEY EXECUTIVES
|
Name : |
Mr. Damodar Mishra |
|
Designation : |
Secretary |
|
Address : |
VI-M-839, H. B. Colony Sailashree Vihar Chandrasekharpur, Bhubaneswar,
Khurda - 751021, Orissa, India |
|
Date of Birth/Age : |
06.07.1968 |
|
Date of Appointment : |
22.04.1997 |
|
PAN No.: |
ABKPM7438B |
|
Voter ID No.: |
OR/09/050/073392 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
President of India |
|
1124879 |
|
Zuari Maroc Phosphates Limited, India |
|
4629600 |
|
Zuari Maroc Phosphates Limited – India, Nandurdikar Shrikrisha |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Ranjit Kumar Nanda |
|
1 |
|
Zurari Maroc Phosphates Limited – |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Mishra Damodar |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Patil R. Y |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Krishnan Suresh |
|
1 |
|
Mukesh Bhardwaj |
|
2 |
|
Verma Sunder Shyam |
|
2 |
|
Peter M Johnson |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Das Suvendu |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Rajinder Mohan Malik |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Das Prashanta |
|
1 |
|
Zurari Maroc Phosphates Limited – India, Sunil Gupta |
|
1 |
|
Suresh Chandra Gupta |
|
1 |
|
Parashar Kumar Anil |
|
2 |
|
Sahu Bairagi P. |
|
2 |
|
Sanjay Kumar Sinha |
|
1 |
|
|
|
|
|
Total |
|
5754500 |
AS ON 21.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Government [Central and State] |
|
19.55 |
|
Bodies
corporate |
|
80.45 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Di-ammonium Phosphate and Complex
Fertilizers of NPK Grades. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Di-Ammonium Phosphate |
MT |
720000 |
720000 |
764486 |
|
NPK Complex |
MT |
720000 |
720000 |
4479995 |
|
Phosphoric Acid |
MT |
225000 |
225000 |
224500 |
|
Sulphuric Acid |
MT |
660000 |
660000 |
635620 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Ø State Bank of
India, Commercial Branch, IDCO Bhawan, Unit – II, Ashok Nagar, Bhubaneswar – 751009,
Orissa, India Ø Syndicate Bank,
Vani Vihar Branch, B-61, Sahid Nagar, Bhubaneswar – 751007, Orissa, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi
and Company Chartered Accountants |
|
Address : |
22, Camac
Street, Block-C, 3rd Floor Kolkata – 700016, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Holding Company : |
Zuari Maroc
Phosphates Limited [U24124GA2002PLC003064] |
|
|
|
|
Other Related Parties : |
Ø Maroc Phosphore,
SA, Morocco Ø Indo Maroc
Phosphore SA, Morocco Ø OCP, Morocco Ø Bunge Maroc
Phosphore Ø Zuari Agro
Chemicals Limited [U65910GA2009PLC006177] Ø Phosphates De
Boucraa SA Ø Simon India
Limited Ø Style Spa
Furniture Limited [U36101TN1998PLC039842] Ø Indian Furniture
Products Limited [U72200GA2000PLC002922] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 1000/- each |
Rs. 8000.000 Millions |
|
2,000,000 |
Preference Shares |
Rs. 1000/- each |
Rs. 2000.000 Millions |
|
|
Total |
|
Rs. 10000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,754,500 |
Equity Shares |
Rs. 1000/- each |
Rs. 5754.500
Millions |
|
|
|
|
|
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 |
5754.500 |
5754.500 |
5754.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4627.083 |
2849.958 |
1079.128 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10381.583 |
8604.458 |
6833.628 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11335.156 |
10565.398 |
10430.690 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
832.841 |
|
|
TOTAL BORROWING |
11335.156 |
10565.398 |
11263.531 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21716.739 |
19169.856 |
18097.159 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2398.393 |
2287.035 |
2220.460 |
|
|
Capital work-in-progress |
546.871 |
147.532 |
144.686 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.530 |
60.530 |
|
|
DEFERRED TAX ASSETS |
275.605 |
203.689 |
336.930 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6753.257
|
5002.274 |
3736.267
|
|
|
Sundry Debtors |
15505.950
|
5176.390 |
6005.151
|
|
|
Cash & Bank Balances |
34.874
|
6279.112 |
2605.786
|
|
|
Other Current Assets |
4174.845
|
4249.318 |
8454.800
|
|
|
Loans & Advances |
666.448
|
416.164 |
678.574
|
|
Total
Current Assets |
27135.374
|
21123.258 |
21480.578 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6033.453
|
1962.734 |
1330.158 |
|
|
Other Current Liabilities |
1540.589
|
1630.294 |
4219.328 |
|
|
Provisions |
1065.462
|
999.160 |
596.539 |
|
Total
Current Liabilities |
8639.504
|
4592.188 |
6146.025 |
|
|
Net Current Assets |
18495.870
|
16531.070 |
15334.553
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21716.739 |
19169.856 |
18097.159 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
47001.446 |
35053.498 |
11983.118 |
|
|
|
Other Income |
462.245 |
1142.256 |
19709.555 |
|
|
|
TOTAL (A) |
47463.691 |
36195.754 |
31692.673 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
25587.423 |
22094.173 |
|
|
|
|
Purchases of stock-in-trade |
14586.080 |
6416.521 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(2257.762) |
(1072.566) |
|
|
|
|
Employee benefit
expense |
729.480 |
746.150 |
|
|
|
|
Other expenses |
5152.018 |
4326.380 |
|
|
|
|
Prior period
items before tax |
2.140 |
(0.768) |
|
|
|
|
TOTAL (B) |
43799.379 |
32509.890 |
28861.236 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3664.312 |
3685.864 |
2831.437 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
827.252 |
1047.049 |
729.368 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2837.060 |
2638.815 |
2102.069 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
244.484 |
247.001 |
304.831 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2592.576 |
2391.814 |
1797.238 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
815.451 |
620.984 |
281.745 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1777.125 |
1770.830 |
1515.493 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2849.958 |
1079.128 |
(436.365) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4627.083 |
2849.958 |
1079.128 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
36913.453 |
26917.129 |
|
|
|
|
Components and Spares parts |
36.888 |
101.102 |
|
|
|
|
Capital Goods |
31.442 |
1.714 |
|
|
|
TOTAL IMPORTS |
36981.783 |
27019.945 |
N.A. |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
308.82 |
307.73 |
263.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.74
|
4.89 |
4.78
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.52
|
6.82 |
14.99
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.78
|
10.22 |
7.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.28 |
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09
|
1.23 |
1.65
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.14
|
4.60 |
3.50
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24129OR1981PLC001020 |
|
Name of the
company |
PARADEEP
PHOSPHATES LIMITED |
|
Address of the
registered office or of the principal place of business in |
5th Floor, Orissa State, Handloom Weavers, Cooperative
Building, Pandit J. N Marg, Bhubaneswar – 751001, Orissa, India Email: dmishra@paraphos.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Syndicate Bank, Vani Vihar Branch, B-61, Sahid Nagar, Bhubaneswar –
751007, Orissa, India |
|
Nature of
description of the instrument creating or modifying the charge |
1. Composite
Hypothecation Agreement dated 5th March, 2013 for Rs.1000.000 Millions short
term loan for a period of 90 days. 2. Sanction
Letter dated 02nd March, 2013. |
|
Date of
instrument Creating the charge |
05.03.2013 |
|
Amount secured by
the charge |
Rs. 1000.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 0.75%
i.e., presently 11.00% p.a. Terms of Repayment 90 days from the
date of first release. Margin Nil Extent and Operation of the charge 1st charge on
current assets value Rs.39103.000 Millions as on 31.12.2012 and 2nd charge on
fixed assets of the company valued Rs.11714.600 Millions as on 31.12.2011 on
pari-passu basis |
|
Short particulars
of the property charged |
All current
assets viz., stocks of raw materials, semi finished and finished goods,
stores and spares, Bill receivables Book Debts and all other moveable of Company located at Paradeep and anywhere in
India. Extension of
Equitable Mortgageon immoveable properties of Land, Buildings, Roads and
Culverts, Railway Siding Plant and Machinery and other Equipment, Furniture,
Fixtures, vehicles in Paradeep and anywhere in India. |
FIXED ASSETS:
Ø Land
Ø Buildings
Ø Residential building
Ø Office building
Ø Factory building
Ø Other building
Ø Plant and equipment
Ø Factory equipments
Ø Furniture and fixtures
Ø Vehicles
Ø Motor vehicles
Ø Office equipment
Ø Other equipments
Ø Bridges roads ports culverts
Ø Railway sidings
Ø Computer software
WEBSITE DETAILS
PRESS RELEASE:
PARADEEP PHOSPHATES
TO INVEST RS 6000.000 MILLIONS IN NEW PROJECTS
Bhubaneswar August 23, 2012
Projects like a new Sulphuric Acid plant with 2,000 tonne a day capacity and Zypmite plant for granulated phosphogypsum are at different stages of implementation
Fertiliser major Paradeep Phosphates Ltd has said it is investing around Rs 6000.000 Millions on new projects for raising capacity.
A number of projects are underway for de-bottlenecking of the Phosphoric acid and DAP plants, PPL Managing Director S S Nandurdikar told reporters here.
Besides, projects like a new Sulphuric Acid plant with 2,000 tonne a day capacity and Zypmite plant for granulated phosphogypsum are at different stages of implementation.
"These projects are expected to be completed in the next three years.
Estimated investment in these projects will be around Rs 6000.000 Millions and
on completion we plan to achieve a capacity of 15 lakh MT of DAP and NPK complexes
annually," Nandurdikar said yesterday.
On the company's performance, he said, PPL made Rs 2592.600 Millions as profit
before tax during 2011-12 compared to Rs 2391.800 Millions in the previous year
- up 8.39%.
However, profit after tax last fiscal was flat at Rs 1777.100 Millions, as
against Rs 1770.800 Millions in the previous year, up 0.35%.
The rise, Nandurdikar said, was small due to factors like tax credit and
certain relief available in 2010-11, but the company's performance was
encouraging.
The turnover last fiscal stood at Rs 47001.400 Millions despite problems in raw
materials availability due to logistic issues, he said.
PPL produced 10.2 lakh tonne fertilisers as against 6 lakh tonne of DAP and 4.2
lakh tonne of complexes of NPK.
Among intermediary products, sulphuric acid and phosphoric acid production was
6.3 lakh tonne and 2.1 lakh tonne respectively.
Referring to sales, Nandurdikar said, the company sold 10.2 lakh tonne of its own
manufactured DAP and complexes and five lakh tonne of Gypsum during 2011-12.
Besides, as part of its traded products PPL sold 0.88 lakh tonne of imported
MOP, 3.53 lakh tonne of imported DAP and complexes.
Though timely declaration of subsidy under the new nutrient-based subsidy
policy ensured adequate availability of fertilisers during 2011-12, there was
big distortion in urea price vis-a-vis phosphatic fertilisers, Nandurdikar
said.
While overall agricultural scenario in the country was favourable in 2011-12
with good rainfall, drought conditions in several regions this year would be
disturbing for the fertiliser industry, particularly phosphatic sector, he
added.
Referring to corporate social responsibility, the PPL MD said the company's
efforts continued in developing areas in neighbourhood of Paradip particularly
in two gram panchayats of Bagadia and Mangarajpur in partnership with an NGO.
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 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. 54.03 |
|
|
1 |
Rs. 82.43 |
|
Euro |
1 |
Rs. 70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.