MIRA
INFORM REPORT
|
Report Date : |
23.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TAMIL NADU NEWSPRINT AND PAPERS LIMITED |
|
|
|
|
Registered
Office : |
67, Mount Road, Guindy,
Chennai - 600 032, Tamil Nadu |
|
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Country : |
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|
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Financials (as
on) : |
31.03.2013 |
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|
|
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Date of
Incorporation : |
16.04.1979 |
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|
Com. Reg. No.: |
18-007799 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.693.778 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L22121TN1979PLC007799 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHET00028A / CHET06348G |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACT2935J |
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|
Legal Form : |
Public limited liability company. The company’s shares are listed on the
Stock Exchanges. |
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|
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Line of Business
: |
Manufacturers of Newsprint in Rolls or Sheets-others, Paper
and Duplicating Paper. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 41410000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having fine track record. Financial position of the company appears to be sound. Over all fundamentals
of the company appears to be sound and healthy. Directors are reported to be experienced and respectable businessman. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term loan=A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
September, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Commercial Papers= A1 |
|
Rating Explanation |
Very strange degree of safety and lowest
credit risk. |
|
Date |
September, 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 : |
67, |
|
Tel. No.: |
91-44-22354415
/ 16 / 18 / 22301094 / 95 / 96 / 97 /98 / 22350749 |
|
Fax No.: |
91-44-2235 0834 / 4614 |
|
E-Mail : |
response@tnpl.net / export@tnpl.co.in / sivakumar.vs@tnpl.co.in
|
|
Website : |
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|
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Administrative Office : |
35, Anna Salai, Guindy, Chennai - 600 032, Tamilnadu |
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|
Factory : |
Kagithapuram - 639 136, Karur District, Tamil Nadu |
|
Tel. No.: |
91-4324-277001 to 277017 |
|
Fax No.: |
91-4324-277025 / 26 / 27 |
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|
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Regional Offices: |
Located at : ·
Mumbai, ·
·
Kolkata, ·
Ernakulam, Kerala ·
·
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|
|
Wind Farm : |
Situated at :- Tirunelveli District, Tamilnadu |
|
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|
Dealer Locator : |
·
Andhra Pradesh ·
·
·
Jharkhand ·
Karnataka ·
Kerala ·
·
Orisa ·
·
Rajasthan ·
Tamilnadu |
|
|
|
|
Branches : |
·
Ahmedabad ·
·
Ernakulam ·
Kolkata ·
Mumbai ·
Secunderabad ·
|
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Thiru N S Palaniappan IAS |
|
Designation : |
Chairman & Managing Director |
|
|
|
|
Name : |
Mr. Thiru Vikram Kapur IAS |
|
Designation : |
(Par t-time Chairman from
12.10.2012 to 13.12.2012) |
|
|
|
|
Name : |
Dr. N Sundaradevan IAS |
|
Designation : |
(Par t-time Chairman till 30.9.2012) |
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|
|
|
Name : |
Thiru Md.Nasimuddin IAS |
|
Designation : |
(Held full additional
charge as Managing Director from 31.5.2012 to 13.12.2012) |
|
|
|
|
Name : |
Thiru S Krishnan IAS |
|
Designation : |
(From 15.9.2011 to 25.7.2013) Directors |
|
|
|
|
Name : |
Thiru T Udhayachandran IAS |
|
Designation : |
Directors |
|
|
|
|
Name : |
Thiru Mahesan Kasirajan IAS |
|
Designation : |
Directors |
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|
|
|
Name : |
Thiru A Velliangiri |
|
Designation : |
Deputy Managing Director |
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|
|
|
Name : |
Thiru R Mani |
|
Designation : |
Director (Operations) |
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|
|
|
Name : |
Thiru V Narayanan |
|
Designation : |
Directors |
|
|
|
|
Name : |
Thiru N Kumaravelu |
|
Designation : |
Directors |
|
|
|
|
Name : |
Thiru M R Kumar |
|
Designation : |
Directors |
|
|
|
|
Name : |
Thiru V Nagappan |
|
Designation : |
Directors |
|
|
|
|
Name : |
Tmt. Sarada Jagan |
|
Designation : |
Directors |
SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Central Government / State Government(s) |
24444900 |
35.32 |
|
|
24444900 |
35.32 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
24444900 |
35.32 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
7703397 |
11.13 |
|
|
586980 |
0.85 |
|
|
2808580 |
4.06 |
|
|
10740154 |
15.52 |
|
|
5290477 |
7.64 |
|
|
27129588 |
39.20 |
|
|
|
|
|
|
5481962 |
7.92 |
|
|
|
|
|
|
6660286 |
9.62 |
|
|
4436111 |
6.41 |
|
|
1057753 |
1.53 |
|
|
59683 |
0.09 |
|
|
462182 |
0.67 |
|
|
534387 |
0.77 |
|
|
1501 |
0.00 |
|
|
17636112 |
25.48 |
|
Total Public shareholding (B) |
44765700 |
64.68 |
|
Total (A)+(B) |
69210600 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
69210600 |
0.00 |
(1) Indian
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Newsprint in Rolls or Sheets-others,
Paper and Duplicating Paper. |
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Products : |
Product range including ·
Business Stationery ·
Classical Writing ·
Computer Stationery ·
News print ·
Premium Printing ·
Quality printing |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Canara Bank ·
DBS Bank Limited ·
HDFC Bank Limited ·
Indian Bank ·
Indian Overseas Bank ·
Oriental Bank of Commerce ·
State Bank of ·
State Bank of ·
State Bank of Travancore ·
Syndicate Bank ·
The Hongkong and Shanghai Banking Corporation
Limited ·
The Karur Vysya Bank |
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Facilities : |
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|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
P B
Vijayaraghavan and Company Chartered
Accountants |
|
Address : |
No. 14 (Old No., 27) Cathedral Garden Road, Nugambakkam, Chennai
600034, Tamil Nadu, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
135000000 |
Equity Shares |
Rs. 10/- each |
Rs.1350.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Shares |
Rs. 10/- each |
Rs.700.000 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
69210600 |
Equity Shares |
Rs. 10/- each |
Rs.692.106 Millions |
|
|
Add: Shares Forfeited |
|
Rs.1.672 Million |
|
|
|
|
|
|
|
Total |
|
Rs.693.778
Millions |
Shares held by shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Governor of Tamil Nadu |
24.445 |
35.32 |
|
Life Insurance Corporation of India |
6.891 |
9.96 |
|
HDFC Trustee Company Limited - HDFC
Prudence Fund |
3.982 |
5.75 |
|
Total |
35.318 |
51.03 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
693.778 |
693.778 |
693.778 |
|
(b) Reserves & Surplus |
9660.987 |
9013.085 |
8464.126 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
10354.765 |
9706.863 |
9157.904 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
6572.861 |
8738.298 |
8377.344 |
|
(b) Deferred tax liabilities (Net) |
2904.600 |
2697.600 |
2496.100 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
839.697 |
743.405 |
644.934 |
|
Total Non-current Liabilities (3) |
10317.158 |
12179.303 |
11518.378 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4958.564 |
5604.122 |
4063.123 |
|
(b) Trade payables |
4062.885 |
3171.880 |
1984.846 |
|
(c) Other current
liabilities |
4547.970 |
4344.129 |
3405.053 |
|
(d) Short-term provisions |
568.852 |
542.681 |
624.158 |
|
Total Current Liabilities (4) |
14138.271 |
13662.812 |
10077.180 |
|
|
|
|
|
|
TOTAL |
34810.194 |
35548.978 |
30753.462 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
20731.429 |
21778.641 |
21938.242 |
|
(ii) Intangible Assets |
107.230 |
0.670 |
0.745 |
|
(iii) Capital
work-in-progress |
4568.646 |
3046.413 |
981.924 |
|
(iv)
Intangible assets under development |
2.829 |
42.085 |
13.334 |
|
(b) Non-current Investments |
11.405 |
11.405 |
11.405 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
902.532 |
1101.520 |
1228.220 |
|
(e) Other Non-current assets |
212.055 |
179.483 |
131.892 |
|
Total Non-Current Assets |
26536.126 |
26160.217 |
24305.762 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2644.247 |
3368.216 |
2050.016 |
|
(c) Trade receivables |
2769.417 |
3639.035 |
2058.534 |
|
(d) Cash and cash
equivalents |
245.054 |
197.352 |
122.200 |
|
(e) Short-term loans and
advances |
2397.879 |
2007.436 |
2117.296 |
|
(f) Other current assets |
217.471 |
176.722 |
99.654 |
|
Total Current Assets |
8274.068 |
9388.761 |
6447.700 |
|
|
|
|
|
|
TOTAL |
34810.194 |
35548.978 |
30753.462 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18612.575 |
15229.183 |
12084.964 |
|
|
|
Other Income |
199.232 |
160.709 |
165.406 |
|
|
|
TOTAL (A) |
18811.807 |
15389.892 |
12250.370 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5311.188 |
4844.320 |
3213.714 |
|
|
|
Purchase of Stock-in-trade |
962.794 |
210.797 |
138.931 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
266.693 |
(830.795) |
(135.807) |
|
|
|
Employee Benefits Expenses |
1390.358 |
1261.599 |
1126.803 |
|
|
|
Other Expenses |
6660.137 |
6548.510 |
4580.764 |
|
|
|
TOTAL (B) |
14591.170 |
12034.431 |
8924.405 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4220.637 |
3355.461 |
3325.965 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1209.713 |
1412.656 |
442.363 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3010.924 |
1942.805 |
2883.602 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1749.861 |
1690.528 |
1233.664 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
0.000 |
998.855 |
301.477 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1261.063 |
1251.132 |
1951.415 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
346.263 |
161.748 |
461.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
914.800 |
1089.384 |
1489.965 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
209.249 |
209.065 |
208.300 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
460.000 |
630.000 |
1030.000 |
|
|
|
Debenture Redemption Reserve |
57.000 |
57.000 |
57.000 |
|
|
|
Proposed Dividend |
346.100 |
346.100 |
346.100 |
|
|
|
Tax on Dividend |
58.800 |
56.100 |
56.100 |
|
|
BALANCE CARRIED
TO THE B/S |
202.149 |
209.249 |
209.065 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
2970.448 |
3236.818 |
2450.653 |
|
|
|
Other Earnings |
1.782 |
9.259 |
0.000 |
|
|
TOTAL EARNINGS |
2972.230 |
3246.077 |
2450.653 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
377.659 |
766.240 |
313.365 |
|
|
|
Chemicals |
163.021 |
120.076 |
57.932 |
|
|
|
Stores & Spares |
259.609 |
262.936 |
122.433 |
|
|
|
Imported Coal |
2233.947 |
2419.330 |
3006.072 |
|
|
|
Capital Goods |
114.576 |
512.679 |
141.803 |
|
|
TOTAL IMPORTS |
3148.812 |
4081.261 |
3641.605 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.22 |
15.74 |
21.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.86
|
7.08 |
12.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.78
|
8.22 |
16.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.33
|
4.01 |
6.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.13 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.11
|
1.48 |
1.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.58
|
0.69 |
0.64 |
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 |
|
|
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 |
No |
|
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
|
Term Loans-General Corporate Loan |
|
|
|
Rupee Term Loans |
415.000 |
230.000 |
|
Short Term
Borrowings |
|
|
|
Short Term Loans from Banks |
|
|
|
Pre-Shipment Credit - Foreign Currency |
715.176 |
1000.760 |
|
Buyer's Credit - Foreign Currency |
738.650 |
508.395 |
|
Rupee Loan |
1815.000 |
2200.000 |
|
|
|
|
|
|
|
|
|
Total |
3683.826 |
3939.155 |
MANAGEMENT
DISCUSSION AND ANALYSIS:
Subject is a
Public Limited company. The company was incorporated in 1979 by the Govt. of
Tamil Nadu (GOTN), to manufacture Newsprint and Printing & Writing Paper
(PWP) using bagasse as the primary raw material. The Mill is located at
Kagithapuram in Karur District, in a campus of 830 acres. TNPL commenced
production in 1984 with an initial capacity of 90,000 tons per annum (tpa) and
the current capacity is 400000 tpa. Subject achieved the growth in capacity in
four phases. The company has increased its pulping capacity in tandem with the
growth in paper capacity.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10457701 |
27/09/2013 |
1,000,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI – 400
005, MAHARASHTRA, INDIA |
B88581889 |
|
2 |
10429150 |
24/04/2013 |
460,000,000.00 |
INDIAN BANK |
THOUSAND LIGHTS BRANCH,
NO:611, ANNA SALAI, CHENNAI – 600 006, TAMIL NADU, INDIA |
B76324656 |
|
3 |
10421088 |
27/03/2013 |
550,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, NO.232 NSC BOSE ROAD, CHENNAI- 600001, |
B73572927 |
|
4 |
10310257 |
21/09/2011 |
280,000,000.00 |
CANARA BANK |
THOUSAND LIGHTS
BRANCH, NO:611, ANNA SALAI, CHENNAI – 600 006, TAMIL NADU, INDIA |
B22580864 |
|
5 |
10307859 |
10/09/2011 |
300,000,000.00 |
INDIAN BANK |
KANNAMMAI BUILDING,,
611, ANNA SALAI, CHENNAI- 600006, TAMIL NADU, INDIA |
B21297247 |
|
6 |
10299814 |
11/07/2011 |
405,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE, COMPLEX,
CUFFE PARADE, MUMBAI – 400 005, MAHARASHTRA, INDIA |
B17928763 |
|
7 |
10265131 |
11/10/2012 * |
1,053,400,000.00 |
DBS BANK LIMITED |
NO.806 ANNA
SALAI, CHENNAI – 600 002, TAMIL NADU, INDIA |
B60462827 |
|
8 |
10253574 |
06/03/2013 * |
910,000,000.00 |
CANARA BANK |
THOUSAND LIGHTS
BRANCH, NO:611, ANNA SALAI, CHENNAI – 600 006, TAMIL NADU, INDIA |
B72100704 |
|
9 |
10253575 |
15/10/2010 |
600,000,000.00 |
CANARA BANK |
THOUSAND LIGHTS
BRANCH, NO:611, ANNA SALAI, CHENNAI – 600 006, TAMIL NADU, INDIA |
A99789992 |
|
10 |
10229776 |
30/06/2010 |
750,000,000.00 |
INDIAN BANK |
THOUSAND LIGHTS
BRANCH, NO:611, ANNA SALAI, CHENNAI – 600 006, TAMIL NADU, INDIA |
A90228412 |
* Date of
charge modification
LITIGATION DETAILS:
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
|
Status Of: |
APPLICATION |
|
Case No.: |
2718 |
|
Year : |
2010 |
|
Petitioner : |
ANDHRA BANK
FINANCIAL SERVICES |
|
Respondent : |
TAMIL NADU
NEWSPRINT AND |
|
Pet's Advocate : |
M/S. T. MOHAN
AND |
|
Res's Advocate : |
M/S.K.BHANUMATHI |
|
Category : |
NO CATEGORY
MENTIONED |
|
|
Last Listed on:
No Date Mentioned |
|
Case Updated on
: |
Oct 28 2010 |
|
No Connected
Application(s) |
No Connected
Matter(s) |
FIXED ASSETS:
·
Land
·
Building
·
Railway Sidings
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Computer Software
PRESS
RELEASE:
PRESS RELEASE DATED 27TH MAY 2013 TNPL NET PROFIT RS.914.800
MILLIONS DIVIDEND 50%
Tamil
Nadu Newsprint and Papers Limited (TNPL) has reported total turnover of
Rs.18039.600 Millions for the year ended 31.03.2013 as against Rs. 14866.000
Millions in the previous year.
Profit before tax (PBT) for the quarter ended 31.03.2013 is Rs.589.100
Millions. Rs.447.700 Millions has been provided for depreciation and Rs.288.500
Millions towards finance cost. Profit after tax (PAT) for the quarter ended
31.03.2013 is Rs.411.200 Millions.
Profit before Tax (PBT) for the year is Rs.126.11 Crore. Rs.1749.900 Millions
has been provided for depreciation and
Rs.1209.700 Millions towards finance cost.
Profit after Tax (PAT) is Rs.914.800 Millions.
The
Board of Directors have recommended a dividend of 50% for the year 2012-2013.
TNPL
will set up a state-of-the-art Multilayer Double Coated Board Plant of a
capacity of two lakh tones per annum at a capital outlay of Rs.12000.000
Millions in Trichy District. The project will be taken up for implementation
during the financial year 2013-14 and completed by March, 2016
PRESS
RELEASE DATED 12TH NOVEMBER 2013 TNPL Q2 NET DOUBLES
Tami
Nadu Newsprint and Papers Limited has reported total revenue of Rs.5295.700
Millions for the quarter ended 30.09.2013 against Rs.4497.800 Millions in the
previous year.
Profit before Tax (PBT) for the quarter ended 30.09.2013 is Rs.561.200
Millions after providing Rs.49.84Crore
for depreciation and Rs.312.600 Millions for finance cost against Rs.304.400 Millions in the
previous year.
Profit after Tax (PAT) for the quarter ended 30.09.2013 is Rs.439.900 Millions against Rs.212.800 Millions in the previous
year registering a growth of 106%.
Profit after tax (PAT) for the half-year ended 30.09.2013 is Rs.761.700
Millions against Rs.324.400 Millions in the previous year.
Production during the current year up to Sep’13 increased to 191908 Mts against 183403 Mts in the Previous Year.
Sales have increased from 155034 Mts
to182732 Mts. Higher production and higher sales have contributed to higher profits.
TNPL
is taking steps to implement the 2 Lakhs tonnes per annum capacity “Multi Layer Coated Board Plant” in
Mundipatti Village, Manaparai Taluk,
Trichy District. The company has called for tenders for supply of Board
Machine, two Boilers and one Turbo Generator. The project
activities will be started in Jan’2014
and completed by March’2015. Financial closure for the project will be completed by Dec’2013.
UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTH AND NINE MONTHS
ENDED 30TH JUNE 2013
(Rs. In Millions)
|
PARTICULARS |
|
|
30.06.2013 (Unaudited) |
|
|
|
|
|
|
1.
Income form operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
|
|
5039.500 |
|
b) Other operating income |
|
|
78.500 |
|
Total
income from Operations(net) |
|
|
5118.000 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
|
|
1380.900 |
|
b) Purchases of stock in trade |
|
|
553.600 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
|
|
59.700 |
|
d) Employees benefit expenses |
|
|
368.800 |
|
e) Depreciation and amortization expenses |
|
|
457.500 |
|
e) Power and Fuel |
|
|
956.000 |
|
f) Transport and Forwarding Expenses |
|
|
348.300 |
|
g) stores Spare Parts and Packaging Material |
|
|
0.000 |
|
f) Other expenditure |
|
|
321.300 |
|
Total expenses |
|
|
4446.100 |
|
3. Profit from operations before other income and
financial costs |
|
|
671.900 |
|
4. Other income |
|
|
24.100 |
|
5. Profit from ordinary activities before finance costs |
|
|
696.000 |
|
6. Finance costs |
|
|
269.500 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
|
|
426.500 |
|
8. Exceptional item |
|
|
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
|
|
426.500 |
|
10.Tax expenses |
|
|
104.700 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
|
|
321.800 |
|
12.Extraordinary Items (net of tax expense) |
|
|
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
|
|
321.800 |
|
14.Paid-up
equity share capital (Nominal value Rs. 10/- per share) |
|
|
692.100 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
0.000 |
|
16. Earnings per share (before extraordinary
items) of Re. 1/- each) (not annualised): |
|
|
|
|
(a) Basic and diluted |
|
|
4.65 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
|
|
41957120 |
|
- Percentage of shareholding |
|
|
60.62 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
|
|
|
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
|
|
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
|
|
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
|
|
27253480 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
|
|
100 |
|
|
|
|
|
|
Percentage of shares (as a % of total share capital of the
company) |
|
|
39.38 |
|
|
|
|
|
|
B.
Investor Complaints |
|
||
|
Pending at the beginning of the quarter |
Nil |
||
|
Receiving during the quarter |
4 |
||
|
Disposed of during the quarter |
4 |
||
|
Remaining unreserved at the end of the quarter |
Nil |
||
UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
FOR THE QUARTER ENDED 30TH JUNE 2013
(Rs. In Millions)
|
PARTICULARS |
|
|
30.06.2013 (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
1.
Segment Revenue |
|
|
|
|
a. Paper |
|
|
4927.700 |
|
b. Energy |
|
|
643.000 |
|
c. Unallocated |
|
|
78.900 |
|
Total |
|
|
5649.600 |
|
Less : Inter Segment Revenue |
|
|
610.100 |
|
Net
Sales |
|
|
5039.500 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
a. Paper |
|
|
722.700 |
|
b. Energy |
|
|
20.700 |
|
c. Unallocated |
|
|
(14.700) |
|
Total |
|
|
728.700 |
|
|
|
|
|
|
Less
: (i) Interest |
|
|
|
|
(ii) Other un-allocable
expenditure net off un-allocable income. |
|
|
32.700 |
|
|
|
|
|
|
Profit
before Tax |
|
|
426.500 |
|
Tax Expenses |
|
|
104.700 |
|
Profit after Tax |
|
|
321.800 |
7
|
Capital Employed |
|
|
|
|
a. Paper |
|
|
25528.300 |
|
b. Energy |
|
|
2148.900 |
|
c. Unallocated |
|
|
1411.000 |
|
d. other Unallocable
Liabilities (Net) |
|
|
(4953.600) |
|
Total capital Employed |
|
|
24134.500 |
|
Secondary Segments |
|
|
|
|
Segment Revenue |
|
|
|
|
Paper |
|
|
|
|
India |
|
|
4256.700 |
|
Rest of World |
|
|
671.000 |
|
Sub
Total |
|
|
4927.700 |
|
Energy Sold Within India |
|
|
643.000 |
|
Unallocated Revenue sold within India |
|
|
78.900 |
|
Total
(a)+(b)+(c) |
|
|
5649.60 |
|
Less: Inter-segment Revenue |
|
|
610.100 |
|
Net Sales/ Income from Operations |
|
|
5039.500 |
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.63.02 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
67 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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.