1. Summary Information
|
|
|
Country |
|
|
|
Company Name |
HALDIA
PETROCHEMICALS LIMITED |
Principal Name 1 |
Mr. Rangarajan Vasudevan |
|
|
Status |
Moderate |
Principal Name 2 |
Mr. Umesh Jain |
|
|
|
|
Registration # |
21-039487 |
|
|
Street Address |
|
|||
|
Established Date |
16.09.1985 |
SIC Code |
-- |
|
|
Telephone# |
91-33-22831640/ 43/ 45 / 471024 / 22831637 /22806221 |
Business Style 1 |
Manufacturer |
|
|
Fax # |
91-33-22802390/ 1654 |
Business Style 2 |
Exporter |
|
|
Homepage |
Product Name 1 |
Petrochemical Polymers Products |
||
|
# of employees |
1000
(Approximately) |
Product Name 2 |
-- |
|
|
Paid up capital |
Rs.
19,590,203,000/- |
Product Name 3 |
-- |
|
|
Shareholders |
Government Companies – 48.87, Nationalised
or other banks – 7.57, Foreign holdings – 39.83, Bodies corporate – 2.81, Directors or relatives of Director – 0.26, Bodies corporate – 0.66 |
Banking |
United Bank of |
|
|
Public Limited Corp. |
No |
Business Period |
28 Years |
|
|
IPO |
No |
International Ins. |
- |
|
|
Public |
No |
Rating |
B
(33) |
|
|
Related Company |
||||
|
Relation
|
Country
|
Company
Name |
CEO |
|
|
Associates |
|
Haldia Riverside Estates Limited (HREL) |
-- |
|
|
Note |
- |
|||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
8,455,500,000 |
Current Liabilities |
17,915,090,000 |
|
Inventories |
12,440,220,000 |
Long-term Liabilities |
30,115,440,000 |
|
Fixed Assets |
43,018,900,000 |
Other Liabilities |
1,420,290,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
49,450,820,000 |
|
Invest& other Assets |
326,190,000 |
Retained Earnings |
(4,800,220,000) |
|
|
|
Net Worth |
14,789,990,000 |
|
Total Assets |
64,240,810,000 |
Total Liab. & Equity |
64,240,810,000 |
|
Total Assets (Previous Year) |
61,789,820,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
81,344,470,000 |
Net Profit / Loss |
(7,463,860,000) |
|
Sales(Previous yr) |
75,501,050,000 |
Net Profit
/ Loss (Prev.yr) |
(2,496,710,000) |
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HALDIA PETROCHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.09.1985 |
|
|
|
|
Com. Reg. No.: |
21-039487 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19590.203 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209WB1985SGC039487 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALH00472D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7360R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Petrochemical Polymers Products. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5916000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a joint venture between the Government of West Bengal, the
Dr. Purnendu Chatterjee Petrochem [ Even though there appears some growth in its revenue from operations
during 2012, it has incurred heavy loss from its operations. There appears
huge accumulated losses in the. However, trade relations are reported as fair. Business is active.
Payment terms are reported as slow. The company can be considered for business dealings with some caution. |
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) |
|
|
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 |
D : Term Loan |
|
Rating Explanation |
Default |
|
Date |
January 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
D : Non-Fund Based Limits |
|
Rating Explanation |
Default |
|
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.
LOCATIONS
|
Registered/ Eastern
Regional/ Corporate Office: |
|
|
Tel. No.: |
91-33-22831640/ 43/ 45 / 471024 / 22831637 /22806221 |
|
Fax No.: |
91-33-22802390/ 1654 |
|
E-Mail : |
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Websites: |
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|
Location: |
Owned |
|
|
|
|
Factory : |
Post |
|
Tel. No.: |
91-3224-274007/ 877/ 876/ 882/ 384 |
|
Fax No.: |
91-3224-274420 |
|
E-Mail : |
|
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|
|
|
|
54 / A/1 Block – DN, sector 5, |
|
Tel. No.: |
91-33-23673491/ 3492/ 3061/ 3062/ 3495/ 91-3224-274007 / 877/876/882/384 |
|
Fax No.: |
91-33-23679890/ 22471361/ 1102 |
|
E-Mail : |
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Southern
Regional Office: |
2A |
|
Tel. No.: |
91-44-24341003 / 9929 / 8592 |
|
Fax No.: |
91-44-2434 1401 |
|
E-Mail : |
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Northern
Regional Office: |
903, Ansal Bhawan, 16 Kasturba Gandhi Marg, |
|
Tel. No.: |
91-11-23315606 / 5626 / 2372
1348 / 3176 |
|
Fax No.: |
91-11-2372 3327 |
|
E-Mail : |
|
|
|
|
|
Western Regional Office |
106-108 |
|
Tel. No.: |
91-22-26590653 / 113/ 219 /318 |
|
Fax No.: |
91-22-2659 0114 |
|
E-Mail : |
|
|
|
|
|
Area Sales
Office: |
18, Old Palasia 102C,
Kanchan Sagar, Tel No: 91-731-2547452
/ 5066979 Fax No:91-731-5066979 Email: asoindo@hpl.co.in Mega Sri Classics, 301, 4th Floor, Tel no: 91-40-55633072 Fax No: 91-40-23358302 Email: asohyd@hpl.co.in 6, Prabhu Sadbhavana, 9/56 Arya Nagar, Tel no: 91-512-255 6863 Fax no: 91-512 -2555089 Email: asokan@hpl.co.in Jaipur
Office: 225, City Centre, Tel no: 91-141-237 6910 Fax No: 91-141-2367910 Email: asojai@hpl.co.in Flat - B, 5th Floor, Noble Enclave, Bhaiwala Chawk, Tel no: 91-161- 403853 / 315136 Fax no: 91-161- 403853 Email: asoludh@hpl.co.in Ahmedabad Office: B - 504, Suhavan Apartments,
Opp. Judges Bunglow Road, Near Rudra Square, Vastrapur, Bodak-Deb, Ahmedabad – 380015, Gujarat, India Tel no: 91-79-6870594 / 6871508 C/O. Adda Office, City Centre, 1st Floor, Tel
No:91-343-546815/6716, Extn. 232 |
DIRECTORS
As on 26.09.2012
|
Name : |
Mr. Rangarajan Vasudevan |
|
Designation : |
Director |
|
Address : |
F – 262, Greater Kailash Part – 1, |
|
Date of Birth/Age : |
14.06.1937 |
|
Qualification : |
IAS (Retired) MA, MPA ( |
|
Date of Appointment : |
25.07.1997 |
|
DIN No.: |
00025334 |
|
|
|
|
Name : |
Mr. Umesh Jain |
|
Designation : |
Nominee director |
|
Address : |
B 221, |
|
Date of Birth/Age : |
28.06.1959 |
|
Date of Appointment : |
16.07.2012 |
|
DIN No.: |
00033729 |
|
|
|
|
Name : |
Mr. Partha Chatterjee |
|
Designation : |
Director |
|
Address : |
9/4A, |
|
Date of Birth/Age : |
06.10.1952 |
|
Qualification : |
B A (Economics), L.L.B, MBA |
|
Date of Appointment : |
21.03.2012 |
|
DIN No.: |
00044589 |
|
|
|
|
Name : |
Mr. Tarun Kumar Ray |
|
Designation : |
Nominee director |
|
Address : |
A – 28, Ranjit Singh Block AGVC, |
|
Date of Birth/Age : |
12.10.1958 |
|
Qualification : |
M.Com (Fin), LLB, C.A, JAIIB, DBF (IFCI Nominee) |
|
Date of Appointment : |
15.06.2010 |
|
DIN No.: |
00050882 |
|
|
|
|
Name : |
Mr. Jamshyd Naoroji Godrej |
|
Designation : |
Director |
|
Address : |
40, |
|
Date of Birth/Age : |
24.01.1949 |
|
Qualification : |
MSc, Business Admin., |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
00076250 |
|
|
|
|
Name : |
Mr. Subhasendu Chatterjee |
|
Designation : |
Director |
|
Address : |
L – 3, Kailash Colony, Second Floor, |
|
Date of Birth/Age : |
13.07.1947 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
04.05.1999 |
|
DIN No.: |
00153459 |
|
|
|
|
Name : |
Ms. Sumantra Choudhury |
|
Designation : |
Managing director |
|
Address : |
50, |
|
Date of Birth/Age : |
08.01.1951 |
|
Date of Appointment : |
19.06.2012 |
|
DIN No.: |
00233781 |
|
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|
|
Name : |
Mr. Purnendu Chatterjee |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
09.01.1950 |
|
Qualification : |
B. Tech (IIT), MSc, PhD |
|
Date of Appointment : |
30.06.1994 |
|
DIN No.: |
00415297 |
|
|
|
|
Name : |
Mr. Alapan Bandopadhyay |
|
Designation : |
Director |
|
Address : |
KB – 2 / 7, |
|
Date of Birth/Age : |
17.05.1961 |
|
Date of Appointment : |
07.06.2012 |
|
DIN No.: |
00515963 |
|
|
|
|
Name : |
Ms. Nandini Chakroborty |
|
Designation : |
Director |
|
Address : |
S 2, Snehachaya Apartments, |
|
Date of Birth/Age : |
10.06.1969 |
|
Qualification : |
IAS |
|
Date of Appointment : |
18.07.2011 |
|
DIN No.: |
01281290 |
|
|
|
|
Name : |
Mr. Sumit Kumar Sanghai |
|
Designation : |
Nominee director |
|
Address : |
3B. 3rd Floor, Palazzo, |
|
Date of Birth/Age : |
09.03.1976 |
|
Date of Appointment : |
07.06.2012 |
|
DIN No.: |
02277681 |
|
|
|
|
Name : |
Mr. Surya Kumar Roy |
|
Designation : |
Director |
|
Address : |
14 Queens Mansion, |
|
Date of Birth/Age : |
30.07.1958 |
|
Date of Appointment : |
26.09.2012 |
|
DIN No.: |
02503135 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Nominee director |
|
Address : |
2c, RAJHANS AND Rajshree Building 6, |
|
Date of Birth/Age : |
24.05.1959 |
|
Qualification : |
B.Com, MBA (IDBI Nominee) |
|
Date of Appointment : |
28.06.2011 |
|
DIN No.: |
02611496 |
|
|
|
|
Name : |
Mr. Vijay Krishna Chaudhry |
|
Designation : |
Director |
|
Address : |
6126 – A, |
|
Date of Birth/Age : |
19.06.1945 |
|
Qualification : |
B.Tech (IIT), MBA ( |
|
Date of Appointment : |
22.08.2009 |
|
DIN No.: |
02761079 |
|
|
|
|
Name : |
Mr. Basudeb Banerjee |
|
Designation : |
Director |
|
Address : |
FD – 422 / 8, Bidhan Nagar, Kolkata – 700 091, West |
|
Date of Birth/Age : |
07.06.1957 |
|
Qualification : |
IAS |
|
Date of Appointment : |
06.02.2012 |
|
DIN No.: |
03350297 |
KEY EXECUTIVES
|
Name : |
Aloke Chattopadhyay |
|
Designation : |
Secretary |
|
Address : |
125, |
|
Date of Birth/Age : |
03.01.1955 |
|
Date of Appointment : |
19.04.2005 |
|
PAN No.: |
ACHPC7998L |
MAJOR SHAREHOLDERS
As on 26.09.2012
Note: MAJOR SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Government
Companies |
48.87 |
|
Nationalised or
other banks |
7.57 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others) |
39.83 |
|
Bodies corporate |
2.81 |
|
Directors or relatives of Directors |
0.26 |
|
Other top fifty shareholders |
0.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Petrochemical Polymers
Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
High Density Polyethylene (HDPE) |
MT |
334000 |
334000 |
265805 |
|
Linear Low Density Polyethylene (LLDPE) [swing plant] [includes HDPE
production of 71,636.778 MT (previous year 138,619.675 MT)] |
MT |
386000 |
386000 |
311253 |
|
Polypropylene (pp) |
MT |
341000 |
34100 |
271086 |
|
Benzene |
MT |
132000 |
132000 |
123079 |
|
Butadiene |
MT |
101000 |
101000 |
68470 |
|
Hydrogenated Pyrolysis Gasoline (HPG) |
MT |
130500 |
130500 |
172090 |
|
Hydrogenated C4 (Lpg) |
MT |
113000 |
113000 |
102075 |
|
Motor spirit |
MT |
250600 |
250600 |
182531 |
|
Others (by-products) |
MT |
* |
* |
* |
Note:
$ Installed Capacities have been certified by the Management of the
Company.
* These are items with small quantities, for which it is not practicable
to give quantitative details.
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
United Bank of ·
Union Bank, 1/1, ·
State bank of India, CAG branch, 2nd
Floor, Reliance House, 34, J L Nehru Road, Kolkata – 700 071, West Bengal,
India ·
Export
- Import Bank of |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
SECURED LOAN : (Rs.
in Millions)
(A) Rupee Term
Loans (RTL) - CDR: Banks - Rs. 6,048.23 million; Other Rupee Term Loans (RTL)
from Banks - Rs. 6,468.27 million; Total - Rs. 12,516.50 million (B) By way of
first charge, created / to be created on fixed assets of the Company (both
present and future). By way of second charge, created / to be created on
current assets of the Company (both present and future) subservient to
working capital loan except inventory valued at Rs 5881.940 pledged with a
supplier
(A) Secured on pari passu basis by way of first charge, created / to be
created on current assets of the Company (both present and future) except
inventory valued at Rs 5,881.94 million pledged with a supplier [Refer Note
17.2] and by way of second charge, created / to be created on fixed assets of
the Company (both present and future) subservient to Long Term loan; Note
17.2; Includes stock of naphtha at plant and in transit valued at Rs 5,881.94
million pledged with a supplier. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Lodha and Company Chartered Accountants |
|
Address : |
Lodhar and
Company 14, |
|
PAN No.: |
AABFL1894Q |
|
|
|
|
Name 2 : |
P.A. and Associates Chartered Accountants |
|
Address : |
PA and Associates
, 20, Govind Bihar Bamikhal , Bhubaneshwar-751010, |
|
PAN No.: |
AAFFP2414G |
|
|
|
|
|
|
|
Associates/Subsidiaries : |
CIN No.: U45202WB1998PLC087462
CIN No.: U45201WB1998PLC086768
CIN No.: U75142WB1967SGC026988
|
CAPITAL STRUCTURE
As on 26.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2200000000 |
Equity Shares |
Rs. 10/- each |
Rs. 22000.000 Millions |
|
300000000 |
Preference Shares |
Rs. 10/- each |
Rs. 3000.000 Millions |
|
|
|
|
|
|
|
TOTAL |
|
Rs. 25000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1687938532 |
Equity Shares |
Rs. 10/- each |
Rs.
16879.385 millions |
|
271081818 |
Preference Shares |
Rs. 10/- each |
Rs. 2710.818 millions |
|
|
|
|
|
|
|
TOTAL |
|
Rs. 19590.203
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 |
|
19590.210 |
18309.980 |
|
(b) Reserves & Surplus |
|
(4800.220) |
2663.640 |
|
(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) |
|
14789.990 |
20973.620 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
15430.710 |
15680.020 |
|
(b) Deferred tax liabilities (Net) |
|
1131.580 |
2267.060 |
|
(c) Other long term liabilities |
|
10.310 |
9.000 |
|
(d) long-term provisions |
|
77.250 |
79.780 |
|
Total Non-current Liabilities (3) |
|
16649.850 |
18035.860 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
14684.730 |
8331.160 |
|
(b) Trade payables |
|
13051.720 |
6913.310 |
|
(c) Other current
liabilities |
|
4853.060 |
7521.390 |
|
(d) Short-term provisions |
|
211.460 |
77.480 |
|
Total Current Liabilities (4) |
|
32800.970 |
22843.340 |
|
|
|
|
|
|
TOTAL |
|
64240.810 |
61852.820 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
42261.040 |
45644.890 |
|
(ii) Intangible Assets |
|
757.860 |
992.450 |
|
(iii) Capital
work-in-progress |
|
100.640 |
170.44 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
175.550 |
175.550 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1996.610 |
1631.020 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
45291.700 |
48614.350 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
50.000 |
0.000 |
|
(b) Inventories |
|
12440.220 |
8979.490 |
|
(c) Trade receivables |
|
1619.640 |
1589.960 |
|
(d) Cash and cash
equivalents |
|
859.550 |
218.880 |
|
(e) Short-term loans
and advances |
|
2855.500 |
1938.060 |
|
(f) Other current
assets |
|
1124.200 |
449.080 |
|
Total Current Assets |
|
18949.110 |
13175.470 |
|
|
|
|
|
|
TOTAL |
|
64240.810 |
61789.820 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
18309.980 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
5160.350 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
23470.330 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
28053.890 |
|
|
2] Unsecured Loans |
|
|
1800.000 |
|
|
TOTAL BORROWING |
|
|
29853.890 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2871.070 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
56195.290 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
35133.290 |
|
|
Capital work-in-progress |
|
|
14487.310 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
175.550 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
8592.810 |
|
|
Sundry Debtors |
|
|
2235.580 |
|
|
Cash & Bank Balances |
|
|
142.350 |
|
|
Other Current Assets |
|
|
1653.190 |
|
|
Loans & Advances |
|
|
5127.960 |
|
Total
Current Assets |
|
|
17751.890 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
7064.440 |
|
|
Other Current Liabilities |
|
|
1203.000 |
|
|
Provisions |
|
|
3085.310 |
|
Total
Current Liabilities |
|
|
11352.750 |
|
|
Net Current Assets |
|
|
6399.140 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
56195.290 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
81344.470 |
75501.050 |
33914.340 |
|
|
|
|
Other Income |
188.250 |
822.660 |
490.000 |
|
|
|
|
TOTAL |
81532.720 |
76323.710 |
34404.340 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of materials consumed |
70016.130 |
61403.220 |
25886.480 |
|
|
|
|
Manufacturing Service Cost |
0.000 |
0.000 |
3882.360 |
|
|
|
|
Purchases of stock-in-trade |
396.840 |
1972.110 |
0.000 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(371.690) |
(2075.510) |
0.000 |
|
|
|
|
Employee benefit
expense |
908.260 |
844.240 |
735.660 |
|
|
|
|
Administrative
selling other expenses |
0.000 |
0.000 |
2496.670 |
|
|
|
|
Other expenses |
11984.270 |
10825.330 |
0.000 |
|
|
|
|
TOTAL |
82933.810 |
72969.390 |
33001.170 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
/ LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(1401.090) |
3354.320 |
1403.170 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
3875.080 |
2557.470 |
1875.410 |
||
|
|
|
|
|
|
||
|
|
PROFIT
/ LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION |
(5276.170) |
796.850 |
(472.240) |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4241.570 |
4110.180 |
3317.730 |
||
|
|
|
|
|
|
||
|
Add |
EXCEPTIONAL
ITEMS |
932.110 |
0.000 |
1311.660 |
||
|
|
|
|
|
|
||
|
|
PROFIT
/ LOSS BEFORE TAX |
(8585.630) |
(3313.330) |
(2478.310) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
(1121.770) |
(816.620) |
(637.940) |
||
|
|
|
|
|
|
||
|
|
PROFIT
/ LOSS AFTER TAX |
(7463.860) |
(2496.710) |
(1840.370) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Exports |
27078.500 |
19923.330 |
NA |
|
|
|
|
Recovery of Demurrage |
7.410 |
13.050 |
NA |
|
|
|
TOTAL EARNINGS |
27085.910 |
19936.380 |
NA |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
51642.940 |
51085.420 |
20588.070 |
|
|
|
|
Chemicals, Catalysts, Additives and Spares |
1542.000 |
1771.250 |
948.580 |
|
|
|
|
Capital Goods |
0.000 |
5.100 |
718.500 |
|
|
|
TOTAL IMPORTS |
53184.940 |
52861.770 |
22255.150 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
(4.8) |
(1.62) |
(1.2) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(9.15)
|
(3.27) |
(5.35) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(10.56)
|
(4.38) |
(7.30) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.42)
|
(5.14) |
(4.68) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.58)
|
(0.16) |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.04
|
1.44 |
1.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.58
|
0.58 |
1.57 |
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 |
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 |
Yes |
|
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 |
LITIGATION
DETAILS:
|
Case
Status : M
|
INTRODUCTION:
Plant performance has
been improved after repetitive failures post Project Supermax commissioning and
integration with the existing units. In FY 11-12, the company’ performance
suffered adversely due to several technical snags and material failures arising
out of Project Supermax implementation. Plant utilization remained below 75%.
The petrochemical
industry witnesses huge volatility in feedstock and product prices. The crude
prices witnessed wide fluctuations arising out of European financial crisis and
geo-political tensions in
On demand side,
industry failed to recover substantially due to poor demand recovery in
In such
apprehensive market scenario, the company put sincere efforts to optimize grade
mix and product market besides taking steps to improve plant reliability.
Consequent to these focus efforts, plant operation has become reliable in last
six months. The efficiency has improved substantially with respect to overall
product yield and energy efficiency levels. Reliable product supplies helping
to gain customers’ confidence.
However, owing to
squeezed margins, inventory devaluation losses from widely fluctuating prices,
material losses during frequent trips and increased maintenance costs, the
company’s profitability was at low level despite achieving higher sales than
last year. In FY 11-12, the company has posted a sales turnover of 901.100
Millions against 838.000 Millions in FY 2010-11. Earnings before Interest,
Depreciation, Tax and Amortization (EBITDA) were (14.00) Millions compared to
Rs. 33.500 Millions in previous year. The profit (loss) before tax was Rs.
(74.600) Millions compared to Rs. (25.000) Millions in FY 10-11.
Operational and financial highlights for FY 2011-12
are:
Total Turnover Rs.
90111.10 million against Rs. 83804.93 million for the corresponding previous
period, an increase of 7.5 %. Earnings before Interest, Tax, Depreciation and
Amortization (EBITDA) was Rs. (1401.09) million against 3354.32 Million for the
corresponding previous period. Profit (loss) After Tax (PAT) is (loss) Rs.
(7463.86) Million against Rs.(2496.71) Million for the corresponding previous
period.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U23209WB1985SGC039487 |
|
Name of the company |
HALDIA PETROCHEMICALS LIMITED |
|
Address of the registered office or of the principal place of business in |
Email ID: Aloke.Chattopadhyay@hpl.co.in |
|
Type of charge |
Creation of charge |
|
Particular of charge holder |
Book debts Movable property (not being pledge) |
|
Nature of instrument creating charge |
Union Bank of Email ID: ifbkolkata@unionbankofindia.com |
|
Date of instrument Creating the charge |
28.03.2013 |
|
Amount secured by the charge |
Rs. 810.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 6 months LIBOR plus 200 bps Terms of Repayment The loan/ credit facility will be payable on demand and liquidated by crediting
the proceeds of negotiation/ purchase of relative export bills drawn on
foreign buyers Margin 25% Extent and Operation of the charge First Charge by way of hypothecation on all raw material, semi
finished and finished goods, consumable stores and spares and moveable
properties now or at any time hereafter belonging to or at the disposal of
the Borrower meant for to execute Export Order to the tune of Rs 810.000
Millions and Borrower's book debts, monies, deposits, receivables etc arising
out of the said export transaction. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
All raw materials, semi finished and finished goods, consumable stores
and spares and moveable property of
any kind now
or at any
time hereafter belonging to or
at the disposal of the Borrower meant for to execute Export order to the tune
of Rs 810.000 Millions for which PCFC to be availed for INR equivalent of Rs
810.000 Millions and the Borrower's book-debts,
outstanding, monies, deposits,
receivables, claims and bills, contracts, securities, investments which are
arising and owing or which may at any time hereafter during the continuance of this security becoming due
and owing to the Borrower in the
course of its said exports by
any person or
party including any Government
or any local or public body or authority (all
of which are
hereinafter collectively
referred to as "the said debts") |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Equipments
·
Furniture and Fixtures
·
Vehicles
·
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 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. 59.70 |
|
|
1 |
Rs. 92.25 |
|
Euro |
1 |
Rs. 78.38 |
INFORMATION DETAILS
|
Report Prepared by
: |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--EPF |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.