MIRA
INFORM REPORT
|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
TDT COPPER LIMITED [w.e.f.15.09.2011] |
|
|
|
|
Formerly Known
As : |
ALCHEMIST METALS LIMITED [w.e.f.09.04.2007] TDT COPPER LIMITED |
|
|
|
|
Registered
Office : |
258, Kuldeep
House, Lane No. 3, Westend Marg, Saidullajab, New Delhi - 110030 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.11.1993 |
|
|
|
|
Com. Reg. No.: |
55-056070 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 332.650
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27201DL1993PLC056070 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELT01778A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1028N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electrolytic Tough Pitch (ETP) Continuous
Cast Copper Rods. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4105000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Even though
the company has recorded better growth in its turnover the profitability of
the company remains low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : (BBB-) |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
April 1, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : (A3) |
|
Rating Explanation |
Moderate degree of safety it carry higher
credit risk. |
|
Date |
April 1, 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 Office : |
258, Kuldeep
House, Lane No. 3, Westend Marg, Saidullajab, New Delhi – 110030, India |
|
Tel. No.: |
91-11-29534701 |
|
Fax No.: |
91-11-29534703 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
179-186, HSIIDC Growth Centre, Bawal,
N.H.8, 94 Milestone, Delhi – Jaipur Highway , Rewari - 123501,
Haryana, India |
|
Tel. No.: |
91-1284-264497/ 8/ 9 |
|
Fax No.: |
91-1284-264363 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
EPIP, Kartholi Industrial Complex, Bari Brahmana, Jammu – 181133,
India |
|
Tel. No.: |
|
|
|
|
|
Marketing Office/ Depot: |
Located at: ·
·
·
Rajasthan ·
Madhya Pradesh ·
·
·
Mumbai |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Lakshman Das Ladha |
|
Designation : |
Chairman cum Managing director |
|
Address : |
132 Rashbehari Avenue, Kolkata - 700029, West Bengal, India |
|
Date of Birth/Age : |
07.04.1936 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
09.04.2009 |
|
DIN No.: |
00885669 |
|
|
|
|
Name : |
Abha Ladha |
|
Designation : |
Director |
|
Address : |
Flat No.102, Vaitran Building, Pochkhanwala Road, Worli, Mumbai -
400025, Maharashtra, India |
|
Date of Birth/Age : |
19.07.1967 |
|
Qualification : |
BA |
|
Date of Appointment : |
09.04.2009 |
|
DIN No.: |
00888662 |
|
|
|
|
Name : |
Mr. Girdharlal Gangabisan Singhee |
|
Designation : |
Director |
|
Address : |
Singhee Sadan, East Gandhi Sagar Road, Nagpur – 400018, Maharashtra,
India |
|
Date of Birth/Age : |
02.11.1934 |
|
Date of Appointment : |
09.04.2009 |
|
DIN No.: |
01479800 |
|
|
|
|
Name : |
Mr. Balram Krishna Menon |
|
Designation : |
Director |
|
Address : |
29, Whisper Valley, Near Dargha Seilingampally, Hyderabad - 500008,
Andhra Pradesh, India |
|
Date of Birth/Age : |
22.11.1945 |
|
Date of Appointment : |
30.06.2009 |
|
DIN No.: |
00035692 |
|
|
|
|
Name : |
Baij Nath Mittal |
|
Designation : |
Director |
|
Address : |
A-501, Pawittra Apartment, 12, Vasundhara Enclave, New Delhi – 110096,
India |
|
Date of Birth/Age : |
05.07.1946 |
|
Date of Appointment : |
30.06.2009 |
|
DIN No.: |
02099043 |
|
|
|
|
Name : |
Mr. Venkat Ramana Vaddi |
|
Designation : |
Director |
|
Address : |
FN D3, H No. 8-2-309/9-18 Trendset Vilee No. 3, Hyderabad – 500034,
Andhra Pradesh, India |
|
Date of Birth/Age : |
16.01.1962 |
|
Qualification : |
MBA |
|
Date of Appointment : |
10.12.2009 |
|
DIN No.: |
02696372 |
KEY EXECUTIVES
|
Name : |
Mrs. Jyoti Nagar |
|
Designation : |
Secretary |
|
Address : |
E 25, Jagannath Puram Apartment, Manjalpur, Vadodara – 390011,
Gujarat, India |
|
Date of Birth/Age : |
05.02.1987 |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
AQGPM8553Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kasi Ram Softech
(India) Limited, India |
|
2376 |
|
Kautilya Infotech Limited, India |
|
71280 |
|
Triton Corp Limited, India |
|
505440 |
|
Rajendra Seclease Limited, India |
|
71280 |
|
Cyber Dot Com Private Limited, India |
|
432 |
|
Saharsh
Distributors Private Limited, India |
|
140830704 |
|
Alchemist
Corporation Limited, India |
|
15388488 |
|
Sivog Marketing Private Limited, India |
|
130539600 |
|
|
|
|
|
Total |
|
287409600 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electrolytic Tough Pitch (ETP) Continuous
Cast Copper Rods. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Ø Punjab National
Bank, IBB Branch, Barakhamba Road, New Delhi - 110001, India Ø Bank of India (Lead
Bank), New Delhi Large Corporate Branch, PTI Building, 4, Parliament Street,
New Delhi - 110001, India |
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|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
C.K. Chandak and
Company Chartered Accountants |
|
Address : |
31, New 10, P.L.
Som Street, Near B.A. Math Water Tank Bhadrakali , Uttarpara, Hooghly –
712232, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACIPC6090J |
|
|
|
|
Associates : |
Ø Ashoka Creations
Private Limited Ø Madura Spinning and
Mfg. Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
288,000,000 |
Equity Shares |
Rs. 2.50/- each |
Rs. 720.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
287,409,600 |
Equity Shares |
Rs. 2.50/- each |
Rs. 718.524
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
248,000,000 |
Equity Shares |
Rs. 2.50/- each |
Rs. 620.000 Millions |
|
10,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 720.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
133,060,000 |
Equity Shares |
Rs. 2.50/- each |
Rs. 332.650
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
332.650 |
332.650 |
332.650 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
693.709 |
723.366 |
756.216 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(2.420) |
|
|
NETWORTH |
1026.359 |
1056.016 |
1086.446 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
90.032 |
|
|
2] Unsecured Loans |
648.310 |
528.696 |
114.932 |
|
|
TOTAL BORROWING |
648.310 |
528.696 |
204.964 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1674.669 |
1584.712 |
1291.410 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
882.052 |
954.759 |
999.897 |
|
|
Capital work-in-progress |
30.076 |
17.002 |
7.292 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.170 |
5.170 |
5.100 |
|
|
DEFERRED TAX ASSETS |
66.964 |
69.160 |
69.825 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
670.184
|
407.882 |
40.725 |
|
|
Sundry Debtors |
1108.332
|
450.978 |
12.228 |
|
|
Cash & Bank Balances |
8.711
|
3.227 |
38.466 |
|
|
Other Current Assets |
24.720
|
19.762 |
0.000 |
|
|
Loans & Advances |
309.875
|
126.196 |
126.906 |
|
Total
Current Assets |
2121.822
|
1008.045 |
218.325 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1089.694
|
451.533 |
1.341 |
|
|
Other Current Liabilities |
339.486
|
17.136 |
7.688 |
|
|
Provisions |
2.235
|
0.755 |
0.000 |
|
Total
Current Liabilities |
1431.415
|
469.424 |
9.029 |
|
|
Net Current Assets |
690.407
|
538.621 |
209.296 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1674.669 |
1584.712 |
1291.410 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
7642.417 |
1979.318 |
138.914 |
|
|
|
Other Income |
49.430 |
8.845 |
0.054 |
|
|
|
TOTAL (A) |
7691.847 |
1988.163 |
138.968 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
7446.097 |
|
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(269.074) |
(68.492) |
|
|
|
|
Employee benefit expense |
12.777 |
6.442 |
|
|
|
|
Expenditure on
production, transportation and other expenditure pertaining to E&P activities |
8.478 |
1.532 |
|
|
|
|
Other expenses |
351.732 |
97.814 |
|
|
|
|
Exceptional items |
26.242 |
0.000 |
|
|
|
|
TOTAL (B) |
7576.252 |
1936.854 |
136.404 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
115.595 |
51.309 |
2.564 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
81.769 |
30.537 |
0.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33.826 |
20.772 |
1.727 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.351 |
18.572 |
1.622 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.475 |
2.200 |
0.105 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.169 |
0.667 |
(69.824) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.306 |
1.533 |
69.929 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Copper Export |
406.192 |
156.920 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Copper Import |
590.864 |
972.100 |
N.A. |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.02 |
0.01 |
0.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.03
|
0.08 |
50.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.07
|
0.11 |
0.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.18
|
0.11 |
0.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.63
|
0.50 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
2.15 |
24.18 |
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 |
No |
|
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Loans and Advances from Others |
648.310 |
528.696 |
|
Total |
648.310 |
528.696 |
Note:
The registered office of the company has been shifted from 1501,
Bhagirath Palace, Chandni Chowk, Delhi – 110006, India to the present
w.e.f.01.04.2011
PERFORMANCE HIGHLIGHTS:
During the year
the company achieved a turnover of Rs. 7642.417 Millions as against Rs.1979.318
Millions during the previous year. The profit for the period was Rs. 2.305
Millions as against profit of 1.533 Millions during the previous year.
ECONOMY AND
BUSINESS OUTLOOK:
There is a ready
market for copper concentrate in India due to huge deficit in mining capacity
and large smelting/refining capacity, while the private companies have the
benefit of high scale of operations along with location advantage.
India's copper
market is expected to remain positive with strong growth in key user segments
such as power, construction and engineering. Indian refined copper consumption
is expected to continue to grow strongly in-line with the overall growth of the
economy. Continued growth in the industrial, housing, infrastructure and power
sectors is expected to drive the demand for copper in coming years. The key
growth drivers are the continuing demand from power and construction sectors.
Electrical and power sectors account for nearly one-third (35%) of the refined
copper consumption, followed by 11% by the transport (auto and railways)
industry, 8% each by construction and consumer durables industry. The growing
environment consciousness and emphasis on using more energy-efficient
appliances would also help the growth in the demand for copper in India.
Copper's commercial
outlook continues to remain cautious. Raw Material prices may be subdued amid
lingering worries over the debt crisis in euro zone and fears of a contagion
dragging down global economic health. Economic growth in the euro zone is
expected to stall in 2012, hurting demand for metals from the region. Also,
fears of slowing growth in the export-oriented Chinese economy may further
weigh down the prices. However, robust demand of finished products from
emerging markets coupled with the improving pace of recovery in the US may lend
support.
Following factors
influence copper market:
Copper prices in
India are driven on the basis of the rates that rules on LME and INR-USD
exchange rates. Economic Growth of major consuming countries such as china,
USA, Japan, Germany, India etc. Growth and development in the Infrastructure,
Real Estate, Telecom and Electrical Industry in India.
NEW PROJECTS:
Civil work started
during the last year to improve security, flow of cathode, incoming trends,
Container unloading ramp, change of access gate and construction of new block
for �temporary stay and rest� quarters, has been under progress during the
year also. It will augment the better
storage and material flow in the process. During the year , certain new
machines, e.g., Compactor has been installed to improve coil packing and to
reduce damages during transport. This has been put to use and capitalized under
the head Plant and Machinery.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U27201DL1993PLC056070 |
|
Name of the
company |
TDT COPPER
LIMITED |
|
Address of the
registered office or of the principal place of business in |
258, Kuldeep
House, Lane No. 3, Westend Marg, Saidullajab, New Delhi – 110030, India Email: alchemist@cccr.co.in |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10346703 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Punjab National
Bank, IBB Branch, Barakhamba Road, New Delhi - 110001, India Email: goyalvinodkumar@gmail.com |
|
Nature of description
of the instrument creating or modifying the charge |
Packing credit
agreement hypothecation |
|
Date of
instrument Creating the charge |
04.02.2013 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 0.75%
I.E. 11.50% P.A. Subject to change
from time to time Terms of Repayment On demand Margin 25% Extent and Operation of the charge Full Charge 100% Others PC 100.000 Millions FOBNLC / FOUBNLC
100.000 Millions FOBP/FOUBP/FABC/FAUBC
within FOBNLC / FOUBNLC (15.000 Millions) Ceiling Rs.
100.000 Millions |
|
Short particulars
of the property charged |
Hypothecation of stocks,
book debts, current assets, fixed moveable block assets on first pari pasu basis |
|
Particulars of
the present modification |
Packing credit limit enhanced from Rs. 70.000 Millions to Rs. 100.000 Millions |
FIXED ASSETS:
Ø
Land
Ø
Buildings
Ø
Factory building
Ø
Plant and equipment
Ø
Factory equipments
Ø
Other plant and equipment
Ø
Furniture and fixtures
Ø
Vehicles
Ø
Motor vehicles
Ø
Office equipment
Ø
Computer equipments
Ø Other equipments
WEBSITE DETAILS
PRESS RELEASE:
TDT COPPER ANNOUNCES 100%
POLLUTION-FREE COPPER PRODUCTION
LAST UPDATED : 24
APRIL 2013 AT 17:10 IST
TDT Copper offers
OFHC (Oxygen Free Copper Wire Rod) and ETP (Electrolytic Tough-Pitch) copper
wire rod in various diameters with state-of-the-art technology from the UK and
US. These products are used by the cable/ wire/ transformer/ automobile and
construction industry.
MUMBAI (Commodity Online): TDT Copper Limited, copper rod producer in India, has achieved 100% pollution-free copper production at the country’s largest stand-alone Continuous Cast Copper Rod (CCCR) plant in north India located at Bawal (Rewari district) on the Delhi-Jaipur highway. The plant has annual capacity of 79,200 MT.
“TDT Copper is the only copper rod producer exempt from pollution control clearance from the Pollution Control Board (PCB) due to its investment in state-of-the-art environment friendly technology.” a release from the company claimed.
TDT Copper offers OFHC (Oxygen Free Copper Wire Rod) and ETP (Electrolytic Tough-Pitch) copper wire rod in various diameters with state-of-the-art technology from the UK and US. These products are used by the cable/ wire/ transformer/ automobile and construction industry.
A. Ladha, Director, TDT Copper Limited, said, “We are pioneering the unique
concept of ‘Pollution-free Green Copper’ in India by proving that it is
possible to get exemption from taking consent to operate by the Pollution
Control Board. Generally, copper rod plants are situated near the Smelter unit
where metal is extracted from the concentrate through electrolysis. But as TDT
Copper imports raw material in the form of cathode and not as ore, hence we are
avoiding the power guzzling smelting process, which ensures environment
friendly operations. Copper cathode has 99.99% of the copper whereas
concentrate contains 25% of the copper and has to be converted. In fact, by
increasing copper production from cathodes the country would save on carbon
credits also.”
“TDT Copper Limited also successfully demonstrates the ‘Shared Energy’ or ‘Embedded Energy’ concept when it comes to import of metals such as Copper & Aluminum and allow metals at pure metal stage. We also contribute to saving of precious land resources by avoidance of solid waste. We are also committed to our environmental drive by reducing the fuel spent on importing copper raw materials by our country by at-least 75%.” Ladha said.
By allowing copper cathode imports at par, India can face energy challenges such as congestion at ports ( tonnage to be handled is reduced by 70%), water shortage and power consumption needed to convert the copper concentrates into copper cathodes. There is a demand for allowing preferential import duty treatment for Copper Cathodes, when imported, as the same is already available to import of Copper Concentrate from abroad. Experts have urged the Ministry of Commerce and Ministry of Finance to reduce duties on import of Copper Cathodes and make them at par with the duties on Copper Concentrates.
All developed countries (and progressive emerging ones), even when they have their own ores, prefer to directly import cathodes rather than concentrates, which are latter converted into cathodes or billets.
Also, they have realised that there is no value addition in the electrolysis process. Power consumed per tonne to produce copper cathode from concentrate is very high and so is the sulphur emission per tonne of cathode produced.
TDT COPPER TO INVEST
RS 2400.0000 MILLIONS IN WORKING CAPITAL
PTI JAN 6, 2013,
11.43AM IST
MUMBAI: TDT Copper is planning investment of Rs 2400.000 Millions in working capital which it plans to raise through loans from banks and financial institutions, a senior executive has said.
"We will invest Rs 2400.000 Millions in working capital of TDT Copper unit. We have initiated de-bottlenecking exercise and also decided to diversify product portfolio by increasing the share of its value added services", TDT Copper Director (Finance) Avinash Ladha told PTI here.
TDT Copper has the largest standalone Continuous Cast Copper Rod (CCCR) plant in north India (Bhawal on Delhi-Jaipur highway) with an annual capacity of 79,200 MT.
"The company does not have any term debt now. We will now raise short-term debt and remaining funds through loans from banks and financial institutions", Ladha said.
The company has set a manufacturing turnover target of Rs 16000.000 Millions over the next two-three years compared to a present turnover of Rs 9000.000 Millions, he added. The company's current clientele includes BHEL, Havell, KEI among others.
TDT Copper was set up as a 100 per cent FDI investment by two multinationals Taihan Electric Wire Company Limited, South Korea, and Tomen Corporation (New Toyota Tsusho) Japan. The company is wholly owned by the present promoters.
The TDT Group is also venturing into infrastructure development in Gujarat. The Group has launched TDT Infra mega industrial park at Savli near Vadodara in the western state.
"The company is developing the first-of-its-kind industrial park project in Gujarat, which is expected to attract investments worth Rs 25000.000 Millions. The 100-acre park is targeting companies in the field of engineering, automotive, power, electrical equipment among others", TDT Group Director Rahul Nath said.
"The industrial park in Gujarat will have non-polluting industries and it has been set up and designed as per international standards. We are very hopeful that incentives being offered will attract a large number of investors to TDT Mega Industrial Park", he added.
TDT COPPER TO ENTER
INTO BACKWARD INTEGRATION
Dilip Kumar Jha | Mumbai February 18, 2013
Is looking to acquire Rs 1000.000 Millions copper smelter in Thailand
TDT Copper, India’s third largest primary copper rods producer only after Hindalco Industries and Sterlite Industries, is planning to set up a backward integration project through acquisition of a closed smelter in the South East Asia (SEA).
The negotiations for the same are currently at an advanced stage.
With an earmarked investment of Rs 1000.000 Millions, the company plans to
produce virgin copper cathodes from concentrates in Thailand to take advantage
of India’s free trade agreement (FTA).
“We are looking for a closed smelter in Thailand with an operating capacity
between 1,000-1,500 tonne a month with an estimated investment of around Rs
1000.000 Millions. We would revive it similar to the way we did for TDT copper,
to feed our Indian wire rods plant. We are in talks with a couple of players.
The deal is expected to be closed in three – six months,” said Avinash Ladha,
managing director of TDT Copper.
The company currently procures copper cathodes, the key raw material for
producing wire rods, from overseas smelters including Codelco, First Quantum
and Glencore to name a few.
TDT Copper was set up as one of the first 100% foreign direct investments in
India by two multinationals – Taihan Electric Wire Company Limited, South Korea
(having large international presence in copper, wires and cables of over five
decades) and Tomen Corporation of Japan (world’s 40th largest corporation by
sales) based on Southwire Continuous Cast Rod System (USA), a technology
adopted by most of leading global producers.
After running the unit for a couple of years, it was closed down.
“Following that we took over the wire rod plant that exists currently in
Haryana, near Delhi in 2009. We spend around Rs 500.000 Millions on its revival
and now, the plant is running smoothly with an annual turnover of Rs 7000.000
Millions,” said Ladha.
Operating at full capacity, TDT Copper has currently the installed capacity of
79,200 tonne per annum. The company’s client base includes Havells, KEI,
Paramount, BHEL (transformer), Orient fans etc.
Also, TDT has acquired around 100 acres of land from the Gujarat government to
develop an industrial park in Vadodara to help industrial houses – both
domestic and global – enter the state. With an assistance from a TDT Copper
professional, an investor can acquire even a small piece of land bank to
commence manufacturing and service unit in Vadodara.
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. 53.95 |
|
|
1 |
Rs. 84.03 |
|
Euro |
1 |
Rs. 70.72 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.