MIRA INFORM REPORT
|
Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
MY HOME INDUSTRIES LIMITED (w.e.f. 03.08.2005) |
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|
|
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Formerly Known
As : |
MY HOME CEMENT INDUSTRIES LIMITED (w.e.f. 26.02.1998) DEVI CEMENTS LIMITED |
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Registered
Office : |
9th Floor, Block-3, My Home Hub, Madhapur, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
05.09.1984 |
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Com. Reg. No.: |
01-004951 |
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Capital
Investment / Paid-up Capital : |
Rs. 591.256 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U26942AP1984PLC004951 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM01472C |
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PAN No.: [Permanent Account No.] |
AABCM9480C |
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Legal Form : |
A Closely held public limited liability company. |
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Line of Business
: |
Subject is engaged in the business of manufacturing and selling cement, clinker and other allied building material products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
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 59600000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track
record. Financial position of the company appears to be sound. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitments. The company can be considered normal 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit : “AA-” |
|
Rating Explanation |
Having high degree of safety regarding timely servicing of financial
obligation. It carry low credit risk. |
|
Date |
April, 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.
LOCATIONS
|
Registered / Corporate Office : |
9th Floor, Block-3, My Home Hub, Madhapur, |
|
Tel. No.: |
91- 40-66929696 / 66398686 |
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Fax No.: |
91- 40-23118000 / 66929797 / 98 |
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E-Mail : |
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Website : |
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Factory 1: |
Patancheru Readymix and Brick Plant, Plot No. 56, Industrial Park, Phase-II,
Patancheru, Medak District – 502319, Andhra Pradesh, India |
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Tel. No.: |
91-8455-200043 |
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|
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Factory 2: |
Srinagar, Mellacheruvu (Post and Mandal), Nalgonda District – 508246,
Andhra Pradesh, India |
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Tel. No.: |
91-8683-226025 / 226316 |
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Fax No.: |
91-8683-226354 |
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|
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Factory 3: |
Mulakalapalli (V), K. Purushottapuram (P), Yellamanchili (M),
Visakhapatnam District – 531055, Andhra Pradesh, India |
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Tel. No.: |
91-8931-201010 |
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E-mail : |
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DIRECTORS
As on 17.08.2012
|
Name : |
Mr. Jupally Rameswar Rao |
|
Designation : |
Whole-time Director |
|
Address : |
8-2-293/82/NG/53, Plot No.53, Nandagiri Hills Co-operative Housing Society, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
16.09.1955 |
|
Qualification : |
DHMS |
|
Experience : |
27 Years |
|
Date of Appointment : |
02.12.2010 |
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PAN No. : |
ABSPJ3781A |
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DIN No.: |
00177012 |
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Name : |
Mr. Jupally Ranjith Rao |
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Designation : |
Managing Director |
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Address : |
8-2-293/82/NG/53, Plot No.53, Nandagiri Hills Co-operative Housing Society, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India |
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Date of Birth/Age : |
17.06.1984 |
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Qualification : |
B.E (Mechanical and I.P.E), M.Sc. Manchester (U.K) |
|
Experience : |
4 Years |
|
Date of Appointment : |
02.12.2010 |
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PAN No. : |
AFLPJ4573K |
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DIN No.: |
00460713 |
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|
|
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Name : |
Mr. Kenneth Mcknight |
|
Designation : |
Director |
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Address : |
Apartment 32, The Crescent, Fortfield Square, Terenure, Dublin, Ireland – 6w |
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Date of Birth/Age : |
24.09.1953 |
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Date of Appointment : |
22.05.2008 |
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DIN No.: |
02183183 |
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Name : |
Mr. Sambasiva Rao Sangu |
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Designation : |
Whole-time director |
|
Address : |
Plot No.174/A, MLA Colony, Road No.12 [Extn], Banjara Hills, Hyderabad-500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.07.1951 |
|
Qualification : |
B.Com, FCA |
|
Experience : |
36 Years |
|
Date of Appointment : |
02.12.2010 |
|
PAN No. : |
AFVPS6366P |
|
DIN No.: |
00228018 |
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|
|
|
Name : |
Mr. Vidya Sagar Narang |
|
Designation : |
Whole-time director |
|
Address : |
Flat No.410, Vayu Block, My Home Navadweepa Apartments, Madhapur, Hyderabad-500081, Andhra Pradesh, India |
|
Date of Birth/Age : |
29.03.1944 |
|
Qualification : |
B.Tech (Electrical) IIT (Kanpur) |
|
Experience : |
47 Years |
|
Date of Appointment : |
07.08.1999 |
|
PAN No. : |
ABJPN7034K |
|
DIN No.: |
00240229 |
|
|
|
|
Name : |
Mr. John Oliver Mahon |
|
Designation : |
Director |
|
Address : |
32, Westbury Drive, Lulan, Co Dublin, Ireland. |
|
Date of Birth/Age : |
08.07.1968 |
|
Date of Appointment : |
07.09.2010 |
|
DIN No.: |
02716616 |
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|
|
|
Name : |
Mr. Vineet Kapur |
|
Designation : |
Whole-time director |
|
Address : |
Villa No. 266, Indu Fortune Fields, KPHP Colony, Opposite Hi-Tech Railway Station, Hyderabad – 500072, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.10.1974 |
|
Qualification : |
B. Com., ACA |
|
Experience : |
17 |
|
Date of Appointment : |
30.06.2011 |
|
PAN No. : |
AFNPK0299K |
|
DIN No.: |
03039473 |
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|
|
|
Name : |
Mr. Jupally Ramu Rao |
|
Designation : |
Whole-time director |
|
Address : |
8-2-293/82/NG/53, Plot No.53, Nandagiri Hills Co-operative Housing Society, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
30.07.1986 |
|
Date of Appointment : |
03.04.2010 |
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PAN No. : |
AFLPJ4570L |
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DIN No.: |
00460735 |
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|
|
|
Name : |
Mr. Richard Michael Cunningham |
|
Designation : |
Director |
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Address : |
24 La Touche park, Greystones, Co Wicklow, NA, Ireland |
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Date of Birth/Age : |
15.07.1952 |
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Date of Appointment : |
07.09.2010 |
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DIN No.: |
02585392 |
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|
|
|
Name : |
Mr. Parthasarathy Gopalan |
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Designation : |
Additional director |
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Address : |
5F Block 1 Abbutsbury Appartment, 42 C P Ramasamy Road Alwarpet, Chennai - 600018, Tamilnadu, India |
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Date of Birth/Age : |
15.09.1968 |
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Qualification : |
ACA, PGDBA |
|
Experience : |
21 Years |
|
Date of Appointment : |
30.03.2012 |
|
PAN No. : |
AAFPP1586M |
|
DIN No.: |
01769831 |
KEY EXECUTIVES
|
Name : |
Mr. Muralidhara Rao Boyanapalli |
|
Designation : |
Secretary |
|
Address : |
Amber Block, Flat No.1107, My Home Jewel Apartments, Mdinaguda,
Serilingampally Mandal, Ranga Reddy, Hyderabad – 500049, Andhra Pradesh,
India |
|
Date of Birth/Age : |
21.08.1970 |
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Date of Appointment : |
04.05.2006 |
|
PAN No.: |
AENPB6173N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.08.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
My Home
Constructions Private Limited, |
23729974 |
40.13 |
|
Madhubala
Enterprises Private Limited, |
3783436 |
6.40 |
|
Ranjith
lndustries Private Limited, |
804600 |
1.36 |
|
J.B.M. Agros
International Private Limited, |
729000 |
1.23 |
|
J.B.M.Gardens
Private Limited, |
510811 |
0.87 |
|
Rameswar Rao J. |
5000 |
0.01 |
|
CRH lndia
Investments B.V., |
29562821 |
50.00 |
|
Total |
59125642 |
100.00 |
As on 17.08.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
49.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and selling cement, clinker and other allied building material products. |
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Products : |
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PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Unit |
Registered Capacity |
Installed
Capacity |
Actual
Production |
|
Mellacheruvu |
|
|
|
|
|
Unit I |
MT |
825,000 |
825,000 |
615,779 |
|
Unit II |
MT |
1,015,000 |
1,015,000 |
692,575 |
|
Unit III |
MT |
1,360,000 |
1,360,000 |
936,084 |
|
Grinding unit- I |
MT |
1,500,000 |
1,500,000 |
798,272 |
|
Total |
|
4,700,000 |
4,700,000 |
3,042,710 |
*Registered with Secretariat for Industrial Assistance,
Ministry of Commerce and Industry, Government of
**includes self consumption of cement 19,952 MT (Previous
year: 18,631 MT)
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· State Bank of India, Corporate Accounts Group Branch-13039, "Ozone", 2nd Floor, 6-3-669, Punjagutta Main Road, Hyderabad - 500082, Andhra Pradesh, India ·
Corporation
Bank, No. 3-6-285, Ground Floor, Ameer Mahal Apartments, Hyderguda, Hyderabad
- 500029, Andhra Pradesh, India ·
Andhra
Bank Limited, Specialised Corporate Finance Branch, 6-3-648, Padmaja Land
Mark, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India · IDBI Bank Limited, IDBI Tower, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
Plot No 18, Oval Office, Il ABS Centre, Software Units, Layout Hitee City, Madhapur, Hyderabad – 500081, Andhra Pradesh, India |
|
PAN No. : |
AABFS3421N |
|
|
|
|
Associate : |
· J.B.M.Gardens Private Limited, India CIN No.: U01120AP1994PTC017162 · My Home Consultancy Services Limited, India CIN No.: U74140AP2006PLC050677 |
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|
|
|
Joint Venture
Partner : |
CRH India Investments B.V., Netherlands |
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|
|
|
Group company of
Joint Venture Partner : |
· CRH Group Services Limited · CRH Europe Materials |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key
management personnel and their relatives |
· My Home Constructions Private Limited, India CIN No.: U45200AP1992PTC015115 · My Home Properties and Services Private Limited, India CIN No.: U70102AP2007PTC055499 · My Home Power Consultancy Services Limited, India CIN No.: U74140AP2003PLC042017 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs. 10/- each |
Rs. 750.000 Millions |
|
1000000 |
Preference Shares |
Rs. 100/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 850.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59125642 |
Equity Shares |
Rs. 10/- each |
Rs. 591.256
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
591.256 |
591.256 |
|
(b) Reserves & Surplus |
|
14308.604 |
12571.914 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
14899.860 |
13163.170 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1314.940 |
1263.844 |
|
(b) Deferred tax liabilities (Net) |
|
961.059 |
802.418 |
|
(c) Other long term
liabilities |
|
451.629 |
384.368 |
|
(d) long-term
provisions |
|
9.202 |
9.127 |
|
Total Non-current
Liabilities (3) |
|
2736.830 |
2459.757 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
134.382 |
64.537 |
|
(b) Trade
payables |
|
770.044 |
475.362 |
|
(c) Other
current liabilities |
|
984.960 |
703.113 |
|
(d) Short-term
provisions |
|
53.943 |
117.348 |
|
Total Current
Liabilities (4) |
|
1943.329 |
1360.360 |
|
|
|
|
|
|
TOTAL |
|
19580.019 |
16983.287 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
12222.990 |
7750.494 |
|
(ii)
Intangible Assets |
|
22.893 |
26.398 |
|
(iii)
Capital work-in-progress |
|
381.810 |
2188.947 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1593.426 |
1593.426 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
534.034 |
731.436 |
|
(e) Other
Non-current assets |
|
34.434 |
22.170 |
|
Total Non-Current
Assets |
|
14789.587 |
12312.871 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
2280.000 |
2330.000 |
|
(b)
Inventories |
|
1239.791 |
1095.363 |
|
(c) Trade
receivables |
|
462.734 |
412.249 |
|
(d) Cash
and cash equivalents |
|
349.776 |
383.269 |
|
(e)
Short-term loans and advances |
|
458.131 |
449.535 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
4790.432 |
4670.416 |
|
|
|
|
|
|
TOTAL |
|
19580.019 |
16983.287 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
591.256 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
11436.298 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
12027.554 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
252.545 |
|
|
2] Unsecured Loans |
|
|
1589.614 |
|
|
TOTAL BORROWING |
|
|
1842.159 |
|
|
DEFERRED TAX LIABILITIES |
|
|
721.798 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
14591.511 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7418.145 |
|
|
Capital work-in-progress |
|
|
932.320 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4541.007 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
972.774 |
|
|
Sundry Debtors |
|
|
335.756 |
|
|
Cash & Bank Balances |
|
|
459.581 |
|
|
Other Current Assets |
|
|
4.018 |
|
|
Loans & Advances |
|
|
912.271 |
|
Total
Current Assets |
|
|
2684.400 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
410.734 |
|
|
Other Current Liabilities |
|
|
495.600 |
|
|
Provisions |
|
|
78.027 |
|
Total
Current Liabilities |
|
|
984.361 |
|
|
Net Current Assets |
|
|
1700.039 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
14591.511 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11327.751 |
9284.898 |
8277.244 |
|
|
|
Other Income |
214.001 |
211.855 |
80.661 |
|
|
|
TOTAL (A) |
11541.752 |
9496.753 |
8357.905 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1408.600 |
1418.975 |
|
|
|
|
Employee benefit expense |
425.854 |
361.922 |
|
|
|
|
Other expenses |
6749.638 |
5706.644 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(19.498) |
(41.217) |
|
|
|
|
TOTAL (B) |
8564.594 |
7446.324 |
6337.054 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
2977.158 |
2050.429 |
2020.851 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
61.527 |
46.657 |
37.467 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2915.631 |
2003.772 |
1983.384 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
472.055 |
423.945 |
344.348 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
2443.576 |
1579.827 |
1639.036 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
706.886 |
444.211 |
535.253 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1736.690 |
1135.616 |
1103.783 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
192.851 |
157.235 |
63.452 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1000.000 |
1100.000 |
1010.000 |
|
|
BALANCE CARRIED
TO THE B/S |
929.541 |
192.851 |
157.235 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
NA |
34.999 |
31.595 |
|
|
|
Capital Goods |
NA |
43.722 |
52.098 |
|
|
TOTAL IMPORTS |
NA |
78.721 |
83.693 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
29.37 |
19.21 |
18.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
15.05
|
11.96 |
13.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.57
|
17.02 |
19.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.88
|
11.97 |
16.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.12 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.10
|
0.10 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.47
|
3.43 |
2.73 |
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
PERFORMANCE HIGHLIGHTS
The company has achieved good performance during the year, the highlights of which are as follows:
Revenue from operations (gross) has crossed Rs.1270 crores which is an increase of 21% as against growth of 13% during the previous year.
Profit after tax has gone up by 53% compared to previous year;
OPERATIONS
The company has earned profit before tax of Rs. 2443.600 millions and profit after tax of Rs.1736.700 millions for the year 2011-12 as against the profit before tax of Rs. 1579.800 millions and profit after tax of Rs. 1135.600 millions in the previous year 2010-11. The company has achieved EBITDA of Rs. 2977.200 millions during 2011-12, constituting 24 % of sales as against the EBITDA of Rs.2050.400 millions consisting 20% of sales, in the previous year. The earnings per equity share for the year under review is Rs. 29.37 as against Rs. 19.21 in the previous year.
SETTING UP OF READY MIX CONCRETE PLANT-II
AT NACHARAM, HYDERABAD
Ready Mix Concrete (RMC) Plant –II setup with a capacity of 100 m3/h at Nacharam, Hyderabad, commenced commercial production with effect from 26 th February, 2012. The company has incurred about Rs. 10.80 Crores for the RMC plant up to 31st March, 2012. The RMC Plant-II would supply ready mix concrete to the Eastern and Central Hyderabad and
Secunderabad.
SETTING UP OF UNIT-II AT VIZAG GRINDING
UNIT
The Unit-II at Vizag Grinding Unit (VGU) with a capacity to produce 0.50 Million Tonnes of cement per annum at Mulakalapalli Village, Yelamanchili Mandal, Visakhapatnam District, Andhra Pradesh, commenced commercial production with effect from 23 rd March, 2012. With the commissioning of Unit-II at VGU the total installed capacity of the Company has increased from 4.7 Million Tones to 5.2 Million Tonnes of cement.
RAILWAY SIDING AT MELLACHERUVU CEMENT WORKS
The Railway siding along with coal unloading and conveyor system, cement loading system and clinker loading system at Mellacheruvu Cement Works (MCW) was completed and put to use with effect from 23rd March, 2012. The railway siding at VGU had become operational during the year 2011-12. With both railway sidings at Mellacheruvu and VGU, the logistic networking has substantially improved. Now, the clinker can be transported by rail from Mellacheruvu to VGU at cheaper cost and further enables easier and comfortable movement of clinker. In addition, the railway sidings will boost the despatches from Mellacheruvu Cement Works and VGU and helps in substantial saving in the freight charges.
60 MW CAPTIVE POWER PLANT (CPP-II) AT
MELLACHERUVU CEMENT WORKS
The 60 MW Captive Power Plant (CPP-II) at Mellacheruvu Cement Works, Nalgonda District has been synchronized and started generation of power with effect from 31 st March, 2012.
ALTERNATE FUEL PROJECT AT MELLACHERUVU
CEMENT WORKS
The alternate fuels project set up at Mellacheruvu Cement Works commenced its operations on 10th April, 2012 by firing organic liquid waste of pharma industry in the Unit - III Kiln as a substitute to coal. Installation of firing system for Unit - II Kiln is under progress and is expected to be completed during July, 2012.
OUTLOOK FOR
CEMENT INDUSTRY
Cement production capacity of major plants in the country as on 31.03.2012 was 329 Million tonnes. Approximately 15 Million tonnes of new capacity is likely to go on stream during 2012-13. Total cement capacity in South India has reached to 96.6 Million tonnes as on 31.03.2012. Growth in cement production capacity has been far in excess of cement demand. The overall outlook for the cement industry in 2012-13 is likely to be subdued, with low capacity utilization followed by lower margins. Considering that the Government is now planning to take new initiative for infrastructure and housing development, the cement demand over next 2 to 3 years is expected to be in the range of 7% to 8% per annum. As the company has stabilized its markets in the State of Orissa and some parts of Eastern India, the company is expected to achieve reasonable growth.
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long term
borrowings |
|
|
|
Deferred sales tax loan |
1314.940 |
1263.844 |
|
Total |
1314.940 |
1263.844 |
FIXED ASSETS
¯
Tangible
Assets
· Land
· Buildings
· Factory Equipments
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Other Equipments
· Factory Building
· Other Building
· Office Equipment
· Other Equipments
¯
Intangible
Assets
·
Computer Software
·
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.60.34 |
|
|
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
67 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.