MIRA
INFORM REPORT
|
Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAFARGE INDIA PRIVATE LIMITED (w.e.f. 25.05.1999) |
|
|
|
|
Formerly Known
As : |
INFRA CEMENT |
|
|
|
|
Registered
Office : |
Crescenzo, ‘B’ Wing, 10th Floor, C-38 and C-39, “G” Block,
Bandra-Kurla Complex, Bandra, (East), Mumbai – 400 051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.02.1999 |
|
|
|
|
Com. Reg. No.: |
11-118229 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3923.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26940MH1999PTC118229 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML03158B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL4159L
|
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cements, Ordinary Portland Cements and Portland
Pozzolana Cements. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 106500000 |
|
|
|
|
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. Overall financial position of the company appears to be strong and
healthy. Rating also reflects dominant position in cement market in eastern
India. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of payments
is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of 18.4
% between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating – AA |
|
Rating Explanation |
High credit quality and low credit risk. |
|
Date |
13.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating – A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
13.08.2013 |
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. Subodh Ambekar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66306511 |
|
Date : |
27.12.2013 |
LOCATIONS
|
Registered/ Head Office : |
Crescenzo, ‘B’ Wing, 10th Floor, C-38 and C-39, “G” Block,
Bandra-Kurla Complex, Bandra, (East), Mumbai – 400 051, Maharashtra,
India |
|
Tel. No.: |
91-22-67692530/ 66306510/ 11/ 61202633 |
|
Fax No.: |
91-22-67692572/ 66306510/ 67692572 |
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E-Mail : |
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|
Website : |
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Regional Operations Office – East |
Block D, 4th Floor, 22, Camac Street, Kolkata – 700016, West Bengal,
India |
|
Tel No.: |
91-33-39832100 |
|
Fax No.: |
91-33-39832133 |
|
|
|
|
Factory : |
Located at: ·
Sonadih, District Raipur, Chhattisgarh ·
Jojobera, District Singhbhum, Jharkhand ·
Arasmeta District Janjir – Champa, Chhattisgarh ·
Mejia District Bankura, West Bengal |
|
|
|
|
Regional Sales Office : |
Locate at: ·
West Bengal ·
Chhattisgarh ·
Jharkhand ·
Bihar ·
Orissa ·
North East |
DIRECTORS
AS ON: 13.09.2012
|
Name : |
Mr. Uday Chander Khanna |
|
Designation : |
Director |
|
Address : |
Centrum Towers, Flat 182, Centrum Co-Operative, Society Limited,
Barkat Ali Road, Wadala, Mumbai – 40037, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1949 |
|
Date of Appointment : |
18.08.2011 |
|
PAN No.: |
AFEPK7061E |
|
DIN No.: |
00079129 |
|
|
|
|
Name : |
Mr. Ujjwal Batria |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 302, 3rd
Floor, Wilnomona B/62, Pali Hill, Nargis Dutt Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
24.12.1963 |
|
Date of Appointment : |
16.11.2010 |
|
PAN No.: |
AGLPB2907Q |
|
DIN No.: |
01737515 |
|
|
|
|
Name : |
Mr. Thomas Gerard Farrell |
|
Designation : |
Director |
|
Address : |
03 Rue Paul
Ollendorff, Saint Cloud, Frnace 92210, France |
|
Date of Birth/Age : |
07.05.2012 |
|
Date of Appointment : |
13.09.2013 |
|
DIN No.: |
05298234 |
|
|
|
|
Name : |
Mr. Jean Desazars De Mantgailhard |
|
Designation : |
Director |
|
Address : |
17, Boulevard, Delessert 75016, Paris, France |
|
Date of Birth/Age : |
26.07.1953 |
|
Date of Appointment : |
17.09.1999 |
|
DIN No.: |
00067288 |
|
|
|
|
Name : |
Mr. Martin Kreigner |
|
Designation : |
Director |
|
Address : |
No.7 Jalan Balau Damansara Heights 50490 Kuala Lampar, Malaysia |
|
Date of Birth/Age : |
06.09.1961 |
|
Date of Appointment : |
07.03.2002 |
|
DIN No.: |
00077715 |
|
|
|
|
Name : |
Mrs. Renu Sud Karnad |
|
Designation : |
Additional Director |
|
Address : |
BB-14, Greater Kailash, Enclave-II, New Delhi – 110 048, India |
|
Date of Birth/Age : |
03.09.1952 |
|
Date of Appointment : |
17.08.2011 |
|
PAN No.: |
AAEPK2992H |
|
DIN No.: |
00008064 |
|
|
|
|
Name : |
Mr. Vinayak Chatterjee |
|
Designation : |
Additional Director |
|
Address : |
E-2278, Palam Vihar, Gurgaon – 122 017, Haryana, India |
|
Date of Birth/Age : |
30.09.1959 |
|
Date of Appointment : |
17.08.2011 |
|
PAN No.: |
AABPC2139H |
|
DIN No.: |
00008933 |
|
|
|
|
Name : |
Mrs. Indu Ranjit Shahani |
|
Designation : |
Director |
|
Address : |
Flat 56, Hill Park, A G Bell Raod, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
17.07.1951 |
|
Date of Appointment : |
13.09.2012 |
|
DIN No.: |
00112289 |
KEY EXECUTIVES
|
Name : |
Mrs. Rubi Chaturvedi |
|
Designation : |
Secretary |
|
Address : |
Aishwarya Tower,
3rd Floor, Flat No. 12, CST Road, Kalina, Santacluz (E), Mumbai - 400098, Maharashtra,
India |
|
Date of Birth/Age : |
03.03.1981 |
|
Date of Appointment : |
21.09.2011 |
|
PAN No.: |
AITPC4586A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 13.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
|
|
392363001 |
|
Societe Financiere Immobiliere et |
|
1 |
|
|
|
|
|
Total |
|
392363002 |
AS ON: 15.07.2013
|
Names of Allottees |
|
No. of Allottees |
|
|
|
|
|
Lafarge India Private Limited |
|
64049776 |
|
|
|
|
|
Total |
|
64049776 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 13.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cements, Ordinary Portland Cements and Portland
Pozzolana Cements. |
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|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Cement |
Metric Tonnes |
NA |
6550000 |
6780078 |
Licensed capacity per
annum not indicated due to abolition of Industrial Licences as per notification
no. 477(E) dated July 25, 1991 issued under Industries (Development and
Regulation), Act, 1951.
*As certified by
the management and relied upon by the Auditors.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· State Bank of India, Cag Branch, Neville House, J.N. Heredia Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|||||||||||||||||||||||||||
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|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
22, Camac Street, 3rd Floor, Block "C", Kolkata – 700016, West Bengal, India |
|
PAN No.: |
ABSFS4151K |
|
|
|
|
Ultimate Holding Company (As on 31.03.2011): |
· Lafarge SA |
|
|
|
|
Holding Company (As on 31.03.2011): |
· Financiere Lafarge |
|
|
|
|
Subsidiaries (As on 31.03.2011): |
·
LI Eastern Private Limited , India (CIN:
U26942ML2006PTC008200) ·
LI Cement Private Limited ·
Arasmeta Coal Mining Company Private Limited |
|
|
|
|
Fellow Subsidiaries (As on 31.03.2011): |
·
Lafarge North America Corporate ·
PT Semen Andalas Indonesia ·
Lafarge Umium Mining Private Limited ·
Lafarge Asia Sdn Bhd ·
Lafarge Surma ·
Lafarge Cement Joint Venture Company, Vietnam ·
Lafarge Cement Services (Philippines) Inc. ·
Iligan Cement Corporation, Philippines ·
Lafarge Canada Inc. ·
Lafarge Boral Gypsum India Private Limited ·
Lafarge-Aggregates and Concrete India Private
Limited, India (CIN: U74900MH2007PTC175495) ·
Centre Technique Inter-Unites Du Groupe Lafarge ·
Lafarge Cement Zambia, Plc. ·
Lafarge International Services Singapore Pte
Limited ·
Lafarge Beiging Representative office ·
Lafarge A and C Malaysia ·
Lafarge Kenya ·
Cementia Trading AG ·
Heracles Cement Company Limited · AshakaCem PLC · Lafarge Mahaweli Cement (Private) Limited · Lafarge Cement Technical Center Vienna Gmbh · Lafarge Middle East Africa Building Materials · Bamburi Cement Limited · Lafarge Perlmooser, Gmbh · Lafarge Shui On (Beijing) Technical Services Company Limited ·
Lafarge Zement, Germany |
|
|
|
|
Associate (As on 31.03.2011): |
Arasmeta Captive Power Company Private Limited India (CIN: U40101AP2004PTC061239) |
CAPITAL STRUCTURE
AS ON: 05.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 millions |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.30000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
456412778 |
Equity Shares |
Rs.10/- each |
Rs.4564.128
millions |
|
|
|
|
|
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000 millions |
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.30000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
392363002 |
Equity Shares |
Rs.10/- each |
Rs.3923.630
millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3923.600 |
3923.600 |
3923.600 |
|
(b) Reserves & Surplus |
22711.400 |
17505.700 |
14423.100 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
26635.000 |
21429.300 |
18346.700 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5000.000 |
4059.200 |
6484.000 |
|
(b) Deferred tax liabilities (Net) |
2545.000 |
2355.500 |
1722.000 |
|
(c) Other long term liabilities |
2431.800 |
2348.100 |
2349.100 |
|
(d) long-term provisions |
234.700 |
149.000 |
147.700 |
|
Total Non-current Liabilities (3) |
10211.500 |
8911.800 |
10702.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
2004.500 |
3240.000 |
9.200 |
|
(b) Trade payables |
3394.300 |
2734.500 |
2042.500 |
|
(c) Other current
liabilities |
8616.200 |
7031.900 |
2883.700 |
|
(d) Short-term provisions |
1044.300 |
795.200 |
655.900 |
|
Total Current Liabilities (4) |
15059.300 |
13801.600 |
5591.300 |
|
|
|
|
|
|
TOTAL |
51905.800 |
44142.700 |
34640.800 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18785.400 |
18466.500 |
14758.100 |
|
(ii) Intangible Assets |
1495.500 |
1561.900 |
1613.200 |
|
(iii) Capital work-in-progress |
13668.400 |
7683.100 |
5953.100 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2847.400 |
2850.200 |
337.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1680.600 |
4056.200 |
3477.100 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
38477.300 |
34617.900 |
26138.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
2097.600 |
|
(b) Inventories |
2551.300 |
2030.600 |
1659.500 |
|
(c) Trade receivables |
2234.800 |
1465.800 |
1174.600 |
|
(d) Cash and cash
equivalents |
3420.700 |
2184.900 |
1249.500 |
|
(e) Short-term loans
and advances |
5215.800 |
3839.900 |
2319.000 |
|
(f) Other current
assets |
5.900 |
3.600 |
2.100 |
|
Total Current Assets |
13428.500 |
9524.800 |
8502.300 |
|
|
|
|
|
|
TOTAL |
51905.800 |
44142.700 |
34640.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
32160.000 |
27020.000 |
25850.000 |
|
|
|
Other Income |
970.000 |
760.000 |
690.000 |
|
|
|
TOTAL (A) |
33130.000 |
27780.000 |
26540.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
23160.000 |
20350.000 |
18400.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9970.000 |
7430.000 |
8140.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
710.000 |
890.000 |
760.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9260.000 |
6540.000 |
7380.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1320.000 |
1260.000 |
1140.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7940.000 |
5280.000 |
6240.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2770.000 |
2100.000 |
2110.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5170.000 |
3180.000 |
4130.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.18 |
8.12 |
0.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
15.61 |
11.45 |
15.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.69 |
19.54 |
24.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.43 |
15.71 |
22.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.25 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.26 |
0.35 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.70 |
1.52 |
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 |
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 |
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Loans repayable on demand |
1240.000 |
3240.000 |
|
|
|
|
|
Total |
1240.000 |
3240.000 |
PERFORMANCE REVIEW
The Company has produced 6,842 KT of Cement as against 6,849 KT in the previous year. The sales volume remained flat at 6,824 KT during the year as against 6,842 KT during the previous year. The Company’s Net Revenue from Operations recorded a growth of 19% to Rs. 32160.000 millions during the year as against Rs. 27020.000 millions during the previous year. The EBIDTA has increased by 34% to Rs. 9970.000 millions during the year. Despite, the tough environment, the increase in EBIDTA is on account of better cost and better product mix management.
OUTLOOK
Indian economy grew slower at around 5% during the year as against 6.2% in the previous year on account of low growth in the industrial sector due to various factors such as low consumption/demand, high interest rates, high inflation and downturn in infrastructure investments.
The economy is expected to grow at the same rate during the current year although some recent policy announcements on the part of the Government is expected to result in some improvement in the overall business climate.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10442527 |
06/08/2013 |
6,000,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, NEVILLE HOUSE, J.N. HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B81924466 |
|
2 |
10428678 |
02/05/2013 |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG, |
B75949453 |
|
3 |
10082386 |
04/01/2008 |
5,518,926,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA |
A29356888 |
|
4 |
90225382 |
15/02/2005 |
50,000,000.00 |
BNP PARIDAD |
FRENCH BANK BUILDING, 62 HOMJI STREET, MOMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
5 |
90225336 |
15/07/2004 * |
600,000,000.00 |
STANDARD CHARTERED BANK |
23/25 MAHATMA GANDHI ROAD, MOMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
6 |
90225192 |
19/08/2002 * |
100,000.00 |
INFRASTUCTURE LEASING AND FINANCIAL SERVICES LIMITED |
MHINDRA TOWER 4TH
FLOOR, BM BHOSALE MRAG, MOMBAI, |
- |
|
7 |
90223323 |
19/02/2002 |
250,000,000.00 |
STANDARD CHARTERED BANK |
23-25;MAHATAMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
8 |
90225137 |
24/04/2005 * |
10,000,000.00 |
DEUTSCHE BANK AG |
DEUTSCHE BANK HOUSE, HAZARIMAN SOMANL MARG, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
9 |
90226736 |
18/04/2001 * |
2,500,000,000.00 |
DEUTSCHE BANK AG |
DEUTSCHE BANK HOUSE
HAZARIMAN SOMANI MARG, FORT, |
A00523126 |
|
10 |
90225064 |
26/04/2002 * |
100,000.00 |
INFRASTRUCTURE LAASING AND FINANCIAL SERCES LIMITED |
MAHINDRA TOWERS 4 FLOOR,
GM BHOSSCE MARG, MOMBAI, |
- |
|
11 |
90223076 |
27/10/1999 |
375,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH;AT KILLICK HOUSE ;CHARANJIT RAO MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
12 |
90225041 |
19/02/2005 * |
375,000,000.00 |
THE STATE BNK OF INDIA |
CAGBRANCH KILLICK HOUSE, CHARANJIT RAI NARG, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
13 |
90225038 |
15/02/2005 * |
100,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPRATION LIMITED |
52/60 MAHATAMA
GANDHI ROAD, MOMBAI, MAHARASHTRA - |
- |
* Date of charge modification
FIXED ASSETS
·
Goodwill
·
Land
·
Quarry Development
·
Building and Roads
·
Plant and Machinery
·
Railway sidings and
Locomotives
·
Furniture Fixtures and office
Equipment
·
Vehicles
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. 62.06 |
|
|
1 |
Rs. 102.03 |
|
Euro |
1 |
Rs. 85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.