1. Summary Information
|
|
|
Country |
India |
|
Company Name |
CHOWGULE AND
COMPANY PRIVATE LIMITED |
Principal Name 1 |
Mr. Vijay Vishwasrao Chowgule |
|
Status |
Excellent |
Principal Name 2 |
Mr. Ramesh Laxmanrao Chowgule |
|
|
|
Registration # |
24-000041 |
|
Street Address |
Chowgule House, Mormugao Harbour, Goa – 403803, India |
||
|
Established Date |
24.06.1965 |
SIC Code |
-- |
|
Telephone# |
91-832-2521010 |
Business Style 1 |
Mining |
|
Fax # |
91-832-2521011 |
Business Style 2 |
Export |
|
Homepage |
Product Name 1 |
Iron Ore |
|
|
# of employees |
3000
(Approximately) |
Product Name 2 |
Shipbuilding |
|
Paid up capital |
Rs.50,042,000/- |
Product Name 3 |
Industrial Salt |
|
Shareholders |
Foreign holdings 4% Bodies corporate 84% Directors or
relatives of Directors 12% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
NO |
Business Period |
48 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Aa
(72) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary |
India
|
Chowgule and Company (Salt) Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7,111,701,000 |
Current Liabilities |
1,281,924,000 |
|
Inventories |
3,186,526,000 |
Long-term Liabilities |
1,104,214,000 |
|
Fixed Assets |
4,438,075,000 |
Other Liabilities |
569,151,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,955,289,000 |
|
Invest& other Assets |
11,045,759,000 |
Retained Earnings |
22,776,730,000 |
|
|
|
Net Worth |
22,826,772,000 |
|
Total Assets |
25,782,061,000 |
Total Liab. & Equity |
25,782,061,000 |
|
Total Assets (Previous Year) |
22,584,295,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
3918,259,000 |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
3541,348,000 |
MIRA
INFORM REPORT
|
Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHOWGULE AND COMPANY PRIVATE LIMITED (w.e.f 21.11.2006) |
|
|
|
|
Formerly Known
As : |
CHOWGULE AND COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Chowgule House, Mormugao Harbour, Goa – 403 803 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.06.1965 |
|
|
|
|
Com. Reg. No.: |
24-000041 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.042 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63031GA1965PTC000041 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Mining, Beneficiation and Export of |
|
|
|
|
No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
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 91307000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Chowgule Group, a well known industrial house of The company can be considered good for normal 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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan A+ |
|
Rating Explanation |
Having adequate degree of safety regarding
timely servicing of financial obligation. It carry low credit risk. |
|
Date |
January 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 PARTED BY
|
Name : |
Mr. Rama Bilguche |
|
Designation : |
Director |
|
Contact No.: |
91-83212521010 |
|
Date : |
23.07.2013 |
LOCATIONS
|
Registered Office : |
Chowgule House, |
|
Tel. No.: |
91-832-2521010/ 2525061/ 2525000/ 2525004 |
|
Fax No.: |
91-832-2521011 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Ship Yard : |
Near Borim bridge, Loutlim – 403718, |
|
Tel. No.: |
91-832-2777010/2777343/34/639/638 |
|
Fax No.: |
91-832-2858058 |
|
E-Mail : |
|
|
|
|
|
Mumbai Office : |
4th Floor, Bhaktawar, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-66202500 |
|
Location : |
Owned |
DIRECTORS
As on: 09.07.2012
|
Name : |
Mr. Vijay Vishwasrao Chowgule |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
Chowgule Bunglow,
House No 189-A, Baina, Vasco-Da-Gama, South Goa , Goa – 403802, |
|
Date of Birth/Age : |
22.08.1946 |
|
Date of Appointment : |
16.08.1974 |
|
DIN No.: |
00018903 |
|
|
|
|
Name : |
Mr. Ramesh Laxmanrao Chowgule |
|
Designation : |
Managing Director |
|
Address : |
House No 678, La
Citadel Colony, Caranzale Dona Paula, North Goa, Goa – 403004, |
|
Date of Birth/Age : |
08.06.1942 |
|
Date of Appointment : |
01.12.1972 |
|
DIN No.: |
00018910 |
|
|
|
|
Name : |
Mr. Ashok Vishwasrao Chowgule |
|
Designation : |
Whole Time
Director |
|
Address : |
Kanchanjunaga 5th
Floor, |
|
Date of Birth/Age : |
25.01.1948 |
|
Date of Appointment : |
16.08.1974 |
|
DIN No.: |
00018970 |
|
|
|
|
Name : |
Mr. Suresh Narsappa Talwar |
|
Designation : |
Director |
|
Address : |
10, Shivshanti
Bhuvan, 146 Maharshi Karve Road, Churchgate Reclamation, Mumbai – 400020,
Maharasahtra, India |
|
Date of Birth/Age : |
21.11.1937 |
|
Date of Appointment : |
27.03.1992 |
|
DIN No.: |
00001456 |
|
|
|
|
Name : |
Mr. Suresh
Laxmanrao Chowgule |
|
Designation : |
Director |
|
Address : |
Flat No.181, 8th
Floor, Jolly Maker Apartments No.3, Cuffe Parade Colaba, Mumbai – 400005, |
|
Date of Birth/Age : |
30.10.1940 |
|
Date of Appointment : |
01.12.1972 |
|
DIN No.: |
00100065 |
|
|
|
|
Name : |
Mr. Jaywant
Yeshwantrao Chowgule |
|
Designation : |
Director |
|
Address : |
Chowgule Bunglow,
Chicalim, Vasco D a Gama, South Goa – 403711, |
|
Date of Birth/Age : |
28.02.1958 |
|
Date of Appointment : |
24.09.2004 |
|
DIN No.: |
00019008 |
|
|
|
|
Name : |
Mr Umaji
Vishwasrao Chowgule |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.12.1953 |
|
Date of Appointment : |
25.08.2005 |
|
DIN No.: |
00018993 |
|
|
|
|
Name : |
Ms. Padma Vishwasrao Chowgule |
|
Designation : |
Director |
|
Address : |
91, Advent 9th Floor, Gen Jaggannath Bhosle, Mumbai – 400021,
|
|
Date of Birth/Age : |
22.08.1955 |
|
Date of Appointment : |
26.02.2009 |
|
DIN No.: |
00006969 |
|
|
|
|
Name : |
Mr. Pradeep Prabhakar Mahatme |
|
Designation : |
Director |
|
Address : |
House No.8/65/A, Near
Telephone Exchange, Altinho Panaji, North Goa, Goa – 403001, |
|
Date of Birth/Age : |
03.11.1951 |
|
Date of Appointment : |
14.02.1989 |
|
DIN No.: |
00019106 |
KEY EXECUTIVES
|
Name : |
Mr. Rama
Bhima Bilguche |
|
Designation : |
Company Secretary |
|
Address : |
A-1, Ankur Mother
Teresa Colony, Near Mes College, Zuari Nagar Sancoale, South Goa, Goa -
403726 |
|
Date of Birth
: |
09.07.1951 |
|
Date of
Appointment : |
24.05.2001 |
|
PAN.: |
ACLPB8348M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 09.07.2012
|
Names of Shareholders |
No. of Shares |
|
Vijay V.Chowgule |
22483 |
|
Vijay V Chowgule |
73754 |
|
Ashok V. Chowgule |
95783 |
|
Vishwasrao D Chowgule Jointly
Mr.Yeshwantrao D.Chowgule |
2000 |
|
Yeshwantrao D.Chowgule |
12814 |
|
Yeshwanlrao D. Chowgule |
9506 |
|
Yeshwantrao D. Chowgule |
9506 |
|
Yeshwantrao D.Chowgule |
4746 |
|
Yeshwantrao D. Chowgule |
4754 |
|
Yeshwanlrao D Chowgule |
4754 |
|
Sulekbabai Y Chowgule |
4747 |
|
Sulekbabai Y. Chowgule |
4746 |
|
Sulekhabai Y.Chowgule |
4747 |
|
Laxmanrao D.Chowgule |
9480 |
|
Laxmanra o D. Chowgul e |
4746 |
|
lndirabai L Chowgule |
9506 |
|
lndirabai L Chowgule |
4754 |
|
SureshL Chowgule |
58880 |
|
Suresh L. Chowgule |
3166 |
|
Sulakshana S Chowgule |
2934 |
|
Sulakshana S Chowgule |
1586 |
|
Ramesh L.Chowgule |
61814 |
|
Ramesh L.Chowgule |
1114 |
|
Bonnie R Chowgule |
3640 |
|
Haraii Dilip Naik |
9508 |
|
Bharali Dilip Naik |
4752 |
|
Sarita Pratap Shirke |
206007 |
|
Rohini Vishwasrao
Chowgule |
47917 |
|
Uma|i V. Chowgule |
47917 |
|
Padma V Chowgule |
47919 |
|
Chowgule Real Estate S
Const Company Private Limited, India |
66 |
|
Dolphin Ore Extraction
Private Limited, India |
1626446 |
|
Dolphin Mining Sen/ices Private Limited, India |
1197578 |
|
Dolphin Extrusions Private Limited, India |
1400098 |
|
TOTAL |
5004168 |
As on: 09.07.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
4.00 |
|
Bodies corporate |
84.00 |
|
Directors or relatives of Directors |
12.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Mining, Beneficiation and Export of |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
3000 (Approximately) |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Bankers : |
¨ State Bank of
India, Industrial Finance Branch, Wakdewadi, Pune – 410003, Maharashtra,
India ¨ State Bank of
India, Commercial Branch, Fracisco Luis Gomes Road, Vasco Da Gama – 403802,
Goa, India |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Facilities : |
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. B. Billimoria and Company Chartered Accountants |
|
Address : |
Chartered Accountants, 12, Annie Basant Road, Opposite Shiv Sagar
Estate, Worli, Mumbai – 400018, |
|
PAN No. : |
AAAFS7376P |
|
|
|
|
Subsidiary
Companies : |
CIN No.: U16005GA2008PTC005549
CIN No.: U45203PN2007PTC130582
|
|
|
|
|
Associate Companies
and Enterprises in which shareholders and key management personnel of the
Company: |
CIN No.: U35111GA2002PTC003085
CIN No.: U51109GA1963PTC000010
CIN No.: L30007KA1977PLC031660
CIN No.: U31200GA1984PTC000597
CIN No.: U24111GA1956PTC000198
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5499580 |
Equity Shares |
Rs.10/- each |
Rs.54.995 Millions |
|
15006220 |
Preference Shares |
Rs.10/- each |
Rs. 150.062 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 205.057
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5004168 |
Equity Shares |
Rs.10/- each |
Rs.50.042 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
50.042 |
|
(b) Reserves & Surplus |
|
|
22776.730 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
00 |
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
22826.772 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1104.214 |
|
(b) Deferred tax liabilities (Net) |
|
|
183.825 |
|
(c) Other long term liabilities |
|
|
19.272 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total Non-current Liabilities (3) |
|
|
1307.311 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
428.941 |
|
(c) Other current
liabilities |
|
|
833.711 |
|
(d) Short-term provisions |
|
|
385.326 |
|
Total Current Liabilities (4) |
|
|
1647.978 |
|
|
|
|
|
|
TOTAL |
|
|
25782.061 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
4438.001 |
|
(ii) Intangible Assets |
|
|
0.074 |
|
(iii) Capital
work-in-progress |
|
|
92.792 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
5904.702 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
540.014 |
|
(e) Other Non-current assets |
|
|
11.835 |
|
Total Non-Current Assets |
|
|
10987.418 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
5048.265 |
|
(b) Inventories |
|
|
3186.526 |
|
(c) Trade receivables |
|
|
945.459 |
|
(d) Cash and cash
equivalents |
|
|
1264.018 |
|
(e) Short-term loans and
advances |
|
|
4336.036 |
|
(f) Other current assets |
|
|
14.339 |
|
Total Current Assets |
|
|
14794.643 |
|
|
|
|
|
|
TOTAL |
|
|
25782.061 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
50.042 |
50.042 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
19175.385 |
15755.114 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
19225.427 |
15805.156 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1128.500 |
433.726 |
|
|
2] Unsecured Loans |
|
0.000 |
182.320 |
|
|
TOTAL BORROWING |
|
1128.500 |
616.046 |
|
|
DEFERRED TAX LIABILITIES |
|
123.730 |
55.660 |
|
|
|
|
|
|
|
|
TOTAL |
|
20477.657 |
16476.862 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
4717.254 |
2945.181 |
|
|
Capital work-in-progress |
|
98.689 |
39.455 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
9855.984 |
8575.307 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3310.926
|
3373.317 |
|
|
Sundry Debtors |
|
1452.843
|
809.863 |
|
|
Cash & Bank Balances |
|
655.824
|
747.436 |
|
|
Other Current Assets |
|
42.095
|
30.455 |
|
|
Loans & Advances |
|
2450.680
|
1806.105 |
|
|
Interest accrued on investment |
|
0.000
|
0.000 |
|
Total
Current Assets |
|
7912.368
|
6767.176 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
752.768
|
512.498 |
|
|
Other Current Liabilities |
|
1075.829
|
1175.317 |
|
|
Provisions |
|
278.041
|
162.442 |
|
Total
Current Liabilities |
|
2106.638
|
1850.257 |
|
|
Net Current Assets |
|
5805.730
|
4916.919
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
20477.657 |
16476.862 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
10703.018 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
NA |
|
|
|
|
|
Office Expenses |
NA |
|
6444.949 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
6444.949 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5978.354 |
5255.418 |
4258.069 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
1714.070 |
1342.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3918.259 |
3541.348 |
2916.046 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR YEAR
ADJUSTMENTS: PRIOR YEAR TAXES
– (NET) |
(26.114) |
(4.758) |
9.020 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
368.308 |
348.036 |
349.676 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3105.000 |
3400.000 |
2810.000 |
|
|
|
Dividend |
250.208 |
100.083 |
100.083 |
|
|
|
Tax on Dividend |
40.590 |
16.236 |
16.623 |
|
|
BALANCE CARRIED
TO THE B/S |
864.655 |
368.308 |
348.036 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
|
10760.244 |
8422.138 |
|
|
|
Dispatch money |
|
2.177 |
3.124 |
|
|
|
Others - Interest |
|
0.117 |
0.149 |
|
|
|
Income from charter hire |
|
170.603 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
10933.141 |
8425.411 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
|
610.458 |
490.284 |
|
|
|
Capital Goods |
|
116.167 |
4.157 |
|
|
TOTAL IMPORTS |
NA |
726.625 |
494.441 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
782.99 |
706.73 |
584.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
27.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.08
|
41.61
|
43.84
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.27
|
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.05
|
0.17
|
0.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
15.64
|
3.76
|
3.66
|
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 |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last one 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 |
Yes |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
---------------------- |
|
26] |
Buyer visit
details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10234388 |
10/03/2012 * |
1,154,366,752.94 |
State Bank of India Commercial Branch |
Shree Vidyadhiraj Bhavan, Francisco Luis Gomez Road, Vasco Da Gama, Goa - 403802, India |
B36219780 |
|
2 |
80029037 |
24/03/2011 * |
4,930,000,000.00 |
STATE BANK OF INDIA |
Commercial Branch, Shree Vidhyadhiraj Bhavan, Fr Ancisco Luis Gomes Road, Vasco Da Gama, Goa - 403802, India |
B10239515 |
|
3 |
90076931 |
10/05/2005 |
1,985,000,000.00 |
STATE BANK OF INDIA |
Commercial Branch, Vasco Da Gama, Goa, India |
- |
|
4 |
90076760 |
31/07/2002 * |
7,000,000.00 |
CHOWGALC AND COMPANY LIMITED |
Chowgulc House, Mormugao Harbour, Harbour, Goa - 403803, India |
- |
|
5 |
90064752 |
25/08/1998 |
27,000,000.00 |
THE GOA URBAN CO-OPERATIVE BANK LTD. |
Vasco. Da. Gama. Goa, India |
- |
|
6 |
90077781 |
31/03/1998 |
876,700,000.00 |
STATE BANK OF INDIA |
Vasco Da Gama, Vasco Da Gama, Goa, India |
- |
|
7 |
90075692 |
11/01/2012 * |
500,700,000.00 |
State Bank of India |
Industrial Finance Branch, Tara Chambers,, Pune M |
B31156763 |
OPERATIONS:
I. Mining
Division:
The production of
iron ore during the year was 3.425 millions tons as against 3.243 millions tons
during the previous year. Export of iron ore was at a level of 2.917 millions
tons realizing revenue of Rs. 11749.298 millions. This was against export of
2.588 millions tons of iron ore realizing Rs. 8813.048 millions revenue during
the previous year. During the year the Company did not sell any iron and other
mineral ores in the domestic market, as against Rs. 224.466 millions in the
previous year. During the year export duty on iron ore lumps and fines
increased to 30% on FOB value effective from 30th December 2011 instead of 20%
ad valorem during the year 2011 Karadikola Mines, Karnataka In proceedings
before the Hon’ble Supreme Court in public interest litigation, the Hon’ble
Court has imposed ban till further orders on mining operations in all mining
leases in Bellary and two of the districts of Karnataka. The Hon’ble Supreme
Court has also directed that Reclamation and Rehabilitation (R and R) plan
needs to be prepared and implemented and on implementation of R and R Plan by
the Lessees the Hon’ble Supreme Court may permit resumption of mining
operations in such leases. In respect of existing stocks of iron ore in all the
mining leases, the Hon’ble Supreme Court has presently ordered periodical sale
of the stocks by e-auction only to be conducted by the Monitoring Committee
(MC) appointed by the Hon’ble Supreme Court. Intending purchasers being actual
users of ore are required to participate in e-auction and effect payment to the
MC. The payment to the respective lessees may be released by MC on satisfactory
implementation of R and R plan and fulfillment of other conditions which may be
stipulated by the Hon’ble Court. The Company’s mining lease at Karadikolla in
Bellary District was also affected by the aforesaid order of the Hon’ble
Supreme Court. The Company had stock of 816,791 tones as on 01.04.2011 at the
said lease. As per the information up to 31.03.2012 available with the Company
209,961 tones of ore has been e-auctioned by MC realizing gross Rs. 6102.97 and
Net Rs. 4,424.66 after deducting the royalty and other charges as per the
aforesaid Court order. The recovery of the net amount of Rs. 4424.66 by the
company from MC is uncertain as the same has to be ordered by the Hon’ble
Court. In view of this uncertain and unpredictable situation the Company has not
reckoned the balance quantity of 606,830 tones in stock and net realized price
of Rs. 1042.99 in the annual account for 2011-12. The Company however is
pursuing requisite reliefs from Hon’ble Supreme Court.
II. Shipbuilding Division:
Shipbuilding Division
had an order book for 24 numbers 4450 DWT Multipurpose Cargo Vessels mainly for
export to Europe. Out of this total order, 20 vessels were delivered so far
including delivery of 4 vessels during the year and 4 more vessels are nearing
completion and are expected to be delivered by mid 2012. The yard is pursuing
new orders and also considering other options to utilize the yard effectively.
III. Mandovi Pellets Division:
During the year, Pellet Plant produced 0.290
million tons of pellets and sold 0.264 million tons, realizing in aggregate of
Rs. 1628.761 millions. The production includes 0.093 million tons by way of
conversion of ore supplied by the customers into pellets. The plant has
achieved reasonable rated capacity when in operation. However, production for
the year was adversely affected due to non-availability of desired quality iron
ore required for the plant.
IV. Material
Handling and Construction Equipment Division:
During the year
the name of Crane Division was changed to Material Handling and Construction
Equipment Division. During the year 30
cranes were sold as against 44 in the previous year. The rental fleet of truck
mounted cranes was increased from 26 units to 44 units over the year. The delivery of the cranes
manufactured by the Company will start from the first quarter 2012-13. Further
facility is being set up at Khandepar
to manufacture truck mounted cranes, tractor cranes, pick-up loaders and
tail-lifts..
V. Shipping Division:
The vessel
“Maratha Deep” realized revenue of Rs. 28.211 millions as against Rs. 38.635
millions in the previous year. The Vessel “Maratha Prestige” earned charter
hire income of Rs. 238.093 millions during the year as against Rs. 170.603
millions in the previous year. Major repairs were carried out to the vessel
Maratha Deep by way of replacement of cranes.
VI. Tudou Mines and 100% Export Oriented Unit at
Tudou:
The operations at
Tudou plant continued to be affected by the statutory orders passed under the
Wildlife Laws. The Company is pursuing the matter with the Authorities and
expects positive results shortly. In the meantime, the efforts are on to
utilize the resources in every possible legitimate manner
FIXED ASSETS:
- Structures and Buildings
- Adoration of Deities
- Structures and Buildings
- Plant and Machinery
- Railway Siding
- River Fleet
- Ship
- Motor Vehicles
- Furniture, fittings and office
- Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.