MIRA INFORM REPORT
|
Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME INFRASTRUCTURE INDIA LIMITED |
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Registered
Office : |
Supreme House, Plot No. 94/C Pratap Gad, Opposite I.I.T Main
Gate, Powai, Mumbai – 400076, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.04.1983 |
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Com. Reg. No.: |
11-029752 |
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Capital
Investment / Paid-up Capital : |
Rs. 192.421 Millions |
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CIN No.: [Company Identification
No.] |
L74999MH1983PLC029752 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS52792F |
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PAN No.: [Permanent Account No.] |
AAACS7320J |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in construction and development of roads, highways, buildings, bridges, etc. and also owns and operates Ready Mix Concrete (“RMC”) plant, Asphalt plant and Crushing plant. |
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No. of Employees
: |
2700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 19000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. However, trade relations are reported as fair. Business is active.
Payment are reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
2011 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating: “PR3” |
|
Rating Explanation |
Minimal degree of safety and carry very high credit risk. |
|
Date |
2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mrs. Vijaya |
|
Designation : |
Office Executive |
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Contact No.: |
91-22-61289700 |
|
Date : |
10.10.2013 |
LOCATIONS
|
Registered Office : |
Supreme House, Plot No. 94/C Pratap Gad, Opposite I.I.T Main Gate, Powai, Mumbai – 400076, Maharashtra, India |
|
Tel. No. : |
91-22-61289700/ 25783241/ 25794216 |
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Fax No. : |
91-22-61289711 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1: |
Kalyan Padgha Road, Taluka Bhiwandi, District Thane, Maharashtra,
India |
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Factory 2: |
SM Shetty School, Hiranandani Complex, Near Lake Castle Building,
Powai, Mumbai - 400076, Maharashtra, India |
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Factory 3: |
Survey No. 17/18, Amboli Village, Beside Essar Petrol Pump, Pali -
Khopoli Road, State Highway No. - 92, Pali Village, Raigad District,
Maharashtra, India |
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Regional Office 1: |
901-905, 9th Floor, Millennium Tower, B Wing, Opposite IFFCO Chowk Metro
Station, M G Road, Gurgaon - 122002, Haryana |
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Tel. No.: |
91-124-7189700/ 4067000 |
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Fax No.: |
91-124-4221401 |
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E-Mail : |
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Regional Office 2: |
Ecospace Business Park, Action Area II, Building-2A, 5th Floor, New
Town, |
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Tel. No.: |
91-33-40312626 |
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Fax No.: |
91-33-40312629 |
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Regional Office 3: |
Supreme Infrastructure Overseas LLC. (CR.No.1159663), P.O.Box.1075,PC
131, Al-Hamriya, Sultanate of Oman |
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Tel. No.: |
+968 22000903/904 |
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Fax No.: |
+968 22000901 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. B. H. SharmaMr. B. H. Sharma |
|
Designation : |
Executive Chairman |
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|
Name : |
Mr. Vikram Sharma |
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Designation : |
Managing Director |
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Date of Birth/Age : |
08.03.1974 |
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Qualification : |
Bachelor of Engineering in Civil (B.E.-Civil) from Mumbai University |
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Date of Appointment : |
21.08.1998 |
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Name : |
Mr. Vikas Sharma |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
16.02.1978 |
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Qualification : |
B.Com. Masters in Management Studies (MMS) |
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Date of Appointment : |
21.08.1998 |
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|
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|
Name : |
Mr. V. P. Singh |
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Designation : |
Independent Director |
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Date of Birth/Age : |
25.01.1944 |
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Qualification : |
M. Com. LLB. Certified Associate of Indian Institute of Bankers |
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Date of Appointment : |
20.01.2010 |
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|
Name : |
Mr. Vinod Agarwala |
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Designation : |
Independent Director |
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Date of Birth/Age : |
30.10.1949 |
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Qualification : |
B.SC. LLB Solicitor, High Court, Bombay, Solicitor,(England & Wales). |
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Date of Appointment : |
20.01.2010 |
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|
Name : |
Mr. Mukul Agrawal |
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Designation : |
Independent Director |
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|
|
Name : |
Mr. Pramod Kasat |
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Designation : |
Independent Director |
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Date of Birth/Age : |
06.08.1969 |
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Qualification : |
MBA, Engineer |
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Date of Appointment : |
14.05.2010 |
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|
Name : |
Mr. Dakshendra Agrawal |
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Designation : |
Non-Executive Director |
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Date of Birth/Age : |
21.07.1973 |
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Qualification : |
Chartered Accountant |
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Date of Appointment : |
13.11.2010 |
KEY EXECUTIVES
|
Name : |
Mrs. Vijaya |
|
Designation : |
Office Executive |
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|
Name : |
Mr. Vijay Joshi |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
9694332 |
57.90 |
|
|
9694332 |
57.90 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
9694332 |
57.90 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
1069832 |
6.39 |
|
|
2165012 |
12.93 |
|
|
3234844 |
19.32 |
|
|
|
|
|
|
1930053 |
11.53 |
|
|
|
|
|
|
902097 |
5.39 |
|
|
444709 |
2.66 |
|
|
536052 |
3.20 |
|
|
4552 |
0.03 |
|
|
530595 |
3.17 |
|
|
905 |
0.01 |
|
|
3812911 |
22.77 |
|
Total Public shareholding (B) |
7047755 |
42.10 |
|
Total (A)+(B) |
16742087 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
16742087 |
100.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
Name
of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % |
|
|
Bhawani Shankar H Sharma |
26,00,000 |
15.53 |
|
Vikas B Sharma |
18,00,000 |
10.75 |
|
Vikram B Sharma |
17,00,000 |
10.15 |
|
Bhawani Shankar H Sharma |
8,69,400 |
5.19 |
|
Vikram B Sharma |
7,00,000 |
4.18 |
|
Rita B Sharma |
6,77,000 |
4.04 |
|
Vikram Bhawanishankar Sharma |
4,00,000 |
2.39 |
|
Barkha Vikram Sharma |
2,07,000 |
1.24 |
|
Shweta V Sharma |
2,05,000 |
1.22 |
|
Vikram B Sharma |
2,15,832 |
1.29 |
|
Bhawanishankar Harishchandra Sharma |
1,29,600 |
0.77 |
|
Bhawanishankar Harishchandra Sharma |
1,00,000 |
0.60 |
|
Phool Kanwar H Sharma |
90,000 |
0.54 |
|
Barkha Vikram Sharma |
500 |
0.00 |
|
Total |
96,94,332 |
57.90 |
Shareholding of securities
(including shares, warrants, convertible securities) of persons belonging to
the category Public and holding more than 1% of the total number of shares
|
Name
of the Shareholder |
No. of Shares held |
Shares as % |
|
|
Kitara Piin 1101 |
1650000 |
9.86 |
|
|
Reliance Capital Trustee Company Limited - Reliance Diversified Power
Sector Fund |
423685 |
2.53 |
|
|
Aviva Life Insurance Company India Limited |
449647 |
2.69 |
|
|
Supreme Construction and Developers
Private Limited |
416275 |
2.49 |
|
|
Sameer Mahendra Sampat |
313235 |
1.87 |
|
|
IDBI Federal Life Insurance Company
Limited |
242588 |
1.45 |
|
|
Wexford Spectrum Investors (Mauritius)
Limited |
197923 |
1.18 |
|
|
Reliance Capital Trustee Company Limited - Reliancesmall Cap Fund |
187207 |
1.12 |
|
|
Total |
3880560 |
23.18 |
|
Shareholding of
securities (including shares, warrants, convertible securities) of persons
(together with PAC) belonging to the category “Public” and holding more than 5%
of the total number of shares of the company
|
Name(s)
of the shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % |
|
|
Kitara Piin 1101 |
1650000 |
9.86 |
|
|
Total |
1650000 |
9.86 |
|
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in construction and development of roads, highways, buildings, bridges, etc. and also owns and operates Ready Mix Concrete (“RMC”) plant, Asphalt plant and Crushing plant. |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others ·
National Highway Authority of · Mumbai Metropolitan Region Development Authority (MMRDA) · Maharashtra Road Development Corporation Limited (MSRDC) · Public Works Department (PWD) · Maharashtra Public Works Department · Municipal Corporation of Greater Mumbai (MCGM) · Mumbai Port Trust (MBPT) · Mumbai Transport Project (Railway) · Airports Authority of India (AAI) ·
Bombay Municipal Corporation (BMC) |
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No. of Employees : |
2700 (Approximately) |
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Bankers : |
· State Bank of India, Worli Branch, Mumbai, Mahrashtra, India · State Bank of Patiala · Union Bank of India · Punjab National Bank · Axis Bank Limited · The Saraswat Co-operative Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
· SREI Equipment Finance Limited ·
L&T Infrastructure Finance Company Limited |
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|
|
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Auditors : |
|
|
Name : |
Walker, Chandiok and Company Chartered Accountants |
|
|
|
|
Name : |
Shah and Kathariya Chartered Accountants |
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|
|
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Subsidiaries : |
· Supreme Infrastructure BOT Private Limited · Supreme Infrastructure BOT Holdings Private Limited · Supreme Panvel Indapur Tollways Private Limited · Supreme Mega Structures Private Limited · Rudranee Infrastructure Limited ·
Supreme Infrastructure Overseas LLC |
|
|
|
|
Subsidiary of Supreme Infrastructure BOT
Private Limited: |
· Supreme Manor Wada Bhiwandi Infrastructure Private Limited · Supreme Infra Projects Private Limited · Supreme Suyog Funicular Ropeways Private Limited · Kopargaon Ahmednagar Tollways (Phase I) Private Limited |
|
|
|
|
Subsidiary of
Supreme Infrastructure BOT Holdings Private Limited: |
· Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited · Supreme Ahmednagar Karmala Tembhurni Tollways Private Limited · Supreme Kopargaon Ahmednagar Tollways Private Limited |
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|
|
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Associate : |
· Sanjose Supreme Tollways Development Private Limited · Kotkapura Muktsar Tollways Private Limited · Mohol Kurul Kamti Mandrup Tollways Private Limited |
|
|
|
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Joint ventures : |
· Supreme - MBL JV · Petron - Supreme JV · Supreme - Siddhi JV · Supreme Zanders JV · HGCL -Niraj-Supreme Infrastructure Private Limited |
|
|
|
|
Companies in which
key management personnel or their relatives have significant influence (Other
related parties) : |
· Supreme Housing and Hospitality Private Limited · BHS Housing Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
20,000,000 |
1% Non cumulative redeemable preference shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
Total |
|
Rs. 500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,742,087 |
Equity Shares |
Rs.10/- each |
Rs. 167.421 Millions |
|
2,500,000 |
1% Non cumulative redeemable preference shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
Total |
|
Rs. 192.421
Millions |
Reconciliation of
equity shares outstanding at the beginning and at the end of the reporting
period
|
Particulars |
31.03.2013 |
|
|
No. of Shares |
Rs. In Millions |
|
|
Balance at the beginning of the year |
16,742,087 |
167.421 |
|
Add : Issued during the year |
-- |
|
|
Balance at the end
of the year |
16,742,087 |
167.421 |
Reconciliation of preference
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
31.03.2013 |
|
|
No. of Shares |
Rs. In Millions |
|
|
Balance at the beginning of the year |
2,500,000 |
25.000 |
|
Add : Issued during the year |
-- |
-- |
|
Balance at the end
of the year |
2,500,000 |
25.000 |
Terms/rights attached
to equity shares
The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensusing Annual General Meeting, except interim dividend. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.
Rights, preferences,
restrictions and conversion terms attached to preference shares
The Company had, on 13 May 2011, alloted 2,500,000 non cumulative, non convertible, redeemable preference shares of Rs. 10 each at a premium of Rs. 90 per share to BHS Housing Private Limited (allotee). The Preference Shares shall be redeemable at any time after the expiry of two years but before the expiry of five years from the date of allotment redeemable at a premium of Rs. 90 per share. These Preference Shares carry preferential right of dividend at the rate of 1%. The holders of Preference Shares have no rights to receive notices of, attend or vote at general meetings except in certain limited circumstances. On a distribution of assets of the Company, on a winding-up or other return of capital (subject to certain exceptions), the holders of Preference Shares have priority over the holders of Equity Shares to receive the capital paid up on those shares.
Shareholders holding
more than 5% of the shares in the Company as at balance sheet date
|
Particulars |
31.03.2013 |
|
|
Number |
% Shareholding |
|
|
Equity shares of
Rs.10 each |
|
|
|
Bhawanishankar H Sharma |
3,699,000 |
22% |
|
Vikram B Sharma |
2,927,000 |
17% |
|
Vikas B Sharma |
1,800,000 |
11% |
|
Kitara PIIN 1101 |
1,650,000 |
10% |
|
Mavi Investment Fund Limited |
162,382 |
1% |
|
Preference shares
of Rs.10 each |
|
|
|
BHS Housing Private Limited |
2,500,000 |
100% |
As per of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
Aggregate number of bonus shares issued and shares issued for consideration other than cash during the period of five years immediately preceding the reporting date The Company has not issued any bonus shares nor has there been any buy back of shares during five years immediately preceeding 31 March 2013.
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 |
192.421 |
192.421 |
167.421 |
|
(b) Reserves & Surplus |
4575.764 |
3518.852 |
2400.502 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
250.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4768.185 |
3711.273 |
2817.923 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2350.863 |
2643.399 |
1303.577 |
|
(b) Deferred tax liabilities (Net) |
104.413 |
107.524 |
87.544 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
19.424 |
13.087 |
10.498 |
|
Total Non-current
Liabilities (3) |
2474.700 |
2764.010 |
1401.619 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
6667.818 |
4343.647 |
2879.707 |
|
(b) Trade
payables |
2198.363 |
1746.005 |
1135.437 |
|
(c) Other
current liabilities |
4425.782 |
4162.725 |
1311.968 |
|
(d) Short-term
provisions |
127.739 |
162.532 |
188.094 |
|
Total Current
Liabilities (4) |
13419.702 |
10414.909 |
5515.206 |
|
|
|
|
|
|
TOTAL |
20662.587 |
16890.192 |
9734.748 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3021.225 |
2815.321 |
2578.031 |
|
(ii)
Intangible Assets |
15.078 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
31.197 |
58.250 |
73.636 |
|
(iv)
Intangible assets under development |
0.000 |
10.636 |
0.000 |
|
(b) Non-current Investments |
2227.764 |
1272.913 |
662.821 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
152.806 |
1546.050 |
273.271 |
|
(e) Other
Non-current assets |
19.768 |
46.924 |
1.204 |
|
Total Non-Current
Assets |
5467.838 |
5750.094 |
3588.963 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
17.339 |
47.929 |
39.257 |
|
(b)
Inventories |
1706.575 |
1413.798 |
1170.036 |
|
(c) Trade
receivables |
6789.696 |
4963.329 |
2825.801 |
|
(d) Cash
and cash equivalents |
1297.722 |
682.713 |
334.347 |
|
(e)
Short-term loans and advances |
5383.417 |
4032.329 |
1776.344 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
15194.749 |
11140.098 |
6145.785 |
|
|
|
|
|
|
TOTAL |
20662.587 |
16890.192 |
9734.748 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19869.502 |
15059.144 |
9178.548 |
|
|
|
Other Income |
40.628 |
28.109 |
49.612 |
|
|
|
TOTAL (A) |
19910.130 |
15087.253 |
9228.160 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and contractor costs |
16016.308 |
12038.185 |
7445.442 |
|
|
|
Employee benefit expense |
536.686 |
365.109 |
272.630 |
|
|
|
Other expenses |
301.976 |
274.245 |
189.316 |
|
|
|
Changes in work-in-progress |
(70.176) |
(53.143) |
(293.936) |
|
|
|
TOTAL (B) |
16784.794 |
12624.396 |
7613.452 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
3125.336 |
2462.857 |
1614.708 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1191.804 |
915.428 |
408.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1933.532 |
1547.429 |
1206.538 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
335.899 |
283.646 |
246.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
1597.633 |
1263.783 |
960.448 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
501.253 |
345.820 |
200.899 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1096.380 |
917.963 |
759.549 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2461.947 |
1593.598 |
883.482 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed equity dividend |
33.484 |
20.928 |
25.227 |
|
|
|
Proposed preference dividend |
0.250 |
0.250 |
0.000 |
|
|
|
Tax on Dividend |
5.733 |
3.436 |
4.206 |
|
|
|
Transfer to general reserve |
110.000 |
25.000 |
20.000 |
|
|
BALANCE CARRIED TO
THE B/S |
3408.860 |
2461.947 |
1593.598 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
65.47 |
54.81 |
48.26 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
4414.800 |
|
Total Expenditure |
|
|
3694.500 |
|
PBIDT (Excl OI) |
|
|
720.300 |
|
Other Income |
|
|
10.500 |
|
Operating Profit |
|
|
730.800 |
|
Interest |
|
|
316.400 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
414.4000 |
|
Depreciation |
|
|
87.000 |
|
Profit Before Tax |
|
|
327.400 |
|
Tax |
|
|
106.200 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
221.200 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
221.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.51
|
6.08 |
8.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.04
|
8.39 |
10.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.68
|
8.13 |
10.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.34 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.89
|
1.88 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.07 |
1.11 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
External commercial borrowings |
73.969 |
90.764 |
60.724 |
|
Term loans |
|
|
|
|
From banks |
324.766 |
317.867 |
159.538 |
|
From financial institutions |
369.542 |
93.531 |
145.008 |
|
Total |
768.277 |
502.162 |
365.270 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10438765 |
27/06/2013 |
450,000,000.00 |
UNION BANK OF INDIA |
IFB MS MARG BRANCH, 66/80 MUMBAI SAMACHAR MARG, FORT MUMBAI - 400021, MAHARASHTRA, INDIA |
B80376312 |
|
2 |
10439102 |
08/06/2013 |
501,867,850.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B80479066 |
|
3 |
10439106 |
08/06/2013 |
501,867,850.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B80479918 |
|
4 |
10431354 |
17/05/2013 |
2,032,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B77182236 |
|
5 |
10417128 |
20/07/2013 * |
16,407,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
B83205310 |
|
6 |
10424138 |
30/03/2013 |
924,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B74573114 |
|
7 |
10424967 |
30/03/2013 |
1,192,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B74879198 |
|
8 |
10412431 |
12/03/2013 |
2,831,092.20 |
NTPC LIMITED |
NTPC BHAWAN, SCOPE COMPLEX, 7, INSTITUTIONAL AREA, |
B70997978 |
|
9 |
10407482 |
15/02/2013 |
5,050,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B69372662 |
|
10 |
10396975 |
07/01/2013 |
48,833,322.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B65885402 |
|
11 |
10395188 |
29/12/2012 |
34,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B65237372 |
|
12 |
10399213 |
28/12/2012 |
2,250,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B66457938 |
|
13 |
10391645 |
01/12/2012 |
2,500,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, U&I BUILDING, CITY CENTER, SECTOR - 29,, GURGAON - 122002, HARYANA, INDIA |
B63997761 |
|
14 |
10394576 |
29/11/2012 |
814,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B65023590 |
|
15 |
10395144 |
22/11/2012 |
1,518,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B65221715 |
|
16 |
10392873 |
22/11/2012 |
98,730,564.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B64469067 |
|
17 |
10392871 |
15/11/2012 |
385,770,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B64468333 |
|
18 |
10384544 |
09/10/2012 |
200,000,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
B61403572 |
|
19 |
10388677 |
03/10/2012 |
514,233,503.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BE |
B62843289 |
|
20 |
10373906 |
22/08/2012 |
2,160,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B57006991 |
|
21 |
10373904 |
22/08/2012 |
19,716,911.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B57006058 |
|
22 |
10379378 |
10/08/2012 |
2,686,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B59238998 |
|
23 |
10371447 |
08/08/2012 |
35,775,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B56012818 |
|
24 |
10368645 |
22/07/2012 |
37,400,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B44945723 |
|
25 |
10366336 |
15/07/2012 |
3,400,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B44096501 |
|
26 |
10366337 |
15/07/2012 |
10,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B44096774 |
|
27 |
10355549 |
18/05/2012 |
14,500,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B39579792 |
|
28 |
10358550 |
15/05/2012 |
8,486,375.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B40790958 |
|
29 |
10358483 |
12/05/2012 |
826,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B40747735 |
|
30 |
10354345 |
15/04/2012 |
3,876,984.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B39199922 |
|
31 |
10354353 |
15/04/2012 |
16,089,999.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B39202080 |
|
32 |
10354323 |
15/04/2012 |
19,480,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B39195953 |
|
33 |
10354302 |
15/04/2012 |
150,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B39186028 |
|
34 |
10345807 |
05/03/2012 |
2,285,735.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC BRANCH, ISHAN ARCADE,, OPP.GAMDEVI TEMPLE,T |
B36396638 |
|
35 |
10337059 |
27/01/2012 |
620,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B32744633 |
|
36 |
10337061 |
27/01/2012 |
1,175,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC BRANCH, 303 ISHAN ARCADE, 3RD FLOOR, OPPOSITE GAMD EVI TEMPLE, GOKHALE ROAD,NAUPADA THANE (WEST), THANE - 400602, MAHARASHTRA, INDIA |
B32745390 |
|
37 |
10331988 |
08/05/2012 * |
1,500,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS, BANDRA KURLA COMPLEX, MUMBAI - 400051, |
B39579479 |
|
38 |
10329780 |
23/12/2011 |
900,000,000.00 |
L&T INFRASTRUCTURE FINANCE COMPANY LIMITED |
MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI - 600089, TAMILNADU, INDIA |
B29892767 |
|
39 |
10325773 |
05/12/2011 |
2,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B28853596 |
|
40 |
10325765 |
05/12/2011 |
3,712,698.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B28846798 |
|
41 |
10326046 |
05/12/2011 |
8,640,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B28937803 |
|
42 |
10325903 |
05/12/2011 |
10,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B28910099 |
|
43 |
10320277 |
15/11/2011 |
3,937,710.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B26376442 |
|
44 |
10320174 |
25/10/2011 |
600,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, SHIVSAGAR ESTATE WORLI, 1ST FLOOR, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B26188300 |
|
45 |
10313952 |
15/10/2011 |
2,425,039.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B23847072 |
|
46 |
10310957 |
16/09/2011 |
500,000,000.00 |
INDIAN OVERSEAS BANK |
PLOT NO. 132, KAKAD CHAMBERS, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B22850275 |
|
47 |
10310960 |
15/09/2011 |
341,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B22852032 |
|
48 |
10301955 |
15/08/2011 |
160,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B18624825 |
|
49 |
10299184 |
27/07/2011 |
42,090,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B17668674 |
|
50 |
10296751 |
30/08/2011 * |
1,500,000,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B20873584 |
|
51 |
10286322 |
15/04/2011 |
50,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B12610846 |
|
52 |
10272644 |
15/02/2011 |
40,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B06994834 |
|
53 |
10272642 |
15/02/2011 |
50,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B06994347 |
|
54 |
10272643 |
15/02/2011 |
50,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B06994511 |
|
55 |
10272646 |
15/02/2011 |
60,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B06994115 |
|
56 |
10258814 |
05/11/2010 |
8,100,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B01360585 |
|
57 |
10258229 |
25/10/2010 |
700,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, SHIVSAGAR ESTATE WORLI, 1ST FLOOR, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B01171768 |
|
58 |
10251734 |
15/10/2010 |
1,550,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A98528490 |
|
59 |
10247970 |
15/10/2010 |
8,100,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A97056188 |
|
60 |
10251884 |
15/10/2010 |
13,299,750.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A98527856 |
|
61 |
10243268 |
15/09/2010 |
2,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A95984985 |
|
62 |
10243269 |
15/09/2010 |
7,445,952.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A95985156 |
|
63 |
10243267 |
15/09/2010 |
8,900,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A95986147 |
|
64 |
10243266 |
15/09/2010 |
20,400,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A95984779 |
|
65 |
10243265 |
15/09/2010 |
29,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A95984282 |
|
66 |
10242190 |
15/08/2010 |
26,978,309.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A95562559 |
|
67 |
10240308 |
15/08/2010 |
31,170,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A94922614 |
|
68 |
10242189 |
15/08/2010 |
31,170,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A95562104 |
|
69 |
10237590 |
09/07/2010 |
500,000,000.00 |
LANDT INFRASTRUCTURE FINANCE COMPANY LIMITED |
MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI - 600089, TAMILNADU, INDIA |
A93036366 |
|
70 |
10232874 |
15/06/2010 |
4,800,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A90673799 |
|
71 |
10221363 |
01/05/2010 |
3,671,640.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A85419653 |
|
72 |
10223269 |
22/04/2010 |
16,647,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A86510187 |
|
73 |
10209217 |
22/02/2010 |
203,500,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A81637738 |
|
74 |
10205335 |
15/01/2010 |
1,652,400.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A80074339 |
|
75 |
10194956 |
04/01/2010 |
7,408,420.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A76277201 |
|
76 |
10194968 |
04/01/2010 |
8,943,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A76277623 |
|
77 |
10194957 |
04/01/2010 |
16,386,057.99 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A76278969 |
|
78 |
10198832 |
22/12/2009 |
12,683,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A77651040 |
|
79 |
10194967 |
01/12/2009 |
4,050,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A76514272 |
|
80 |
10191547 |
15/11/2009 |
28,232,750.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A74346032 |
|
81 |
10183364 |
15/10/2009 |
11,529,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A72080427 |
|
82 |
10183365 |
15/10/2009 |
11,529,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A72081243 |
|
83 |
10186358 |
15/10/2009 |
20,587,500.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A72866627 |
|
84 |
10174752 |
22/07/2009 |
64,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A68978931 |
|
85 |
10164203 |
08/06/2009 |
3,687,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A64287311 |
|
86 |
10165378 |
19/05/2009 |
187,500,000.00 |
STATE BANK OF PAITALA |
ATLANTA BUILDING, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
A64689821 |
|
87 |
10139554 |
27/12/2008 |
390,000,000.00 |
AXIS BANK LIMITED |
JEEVAN PRAKASHS BUILDING, P. M. ROAD FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A55291355 |
|
88 |
10130053 |
08/11/2008 |
3,290,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A50439215 |
|
89 |
10129767 |
22/09/2008 |
4,264,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A50438431 |
|
90 |
10126412 |
22/09/2008 |
14,999,700.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A48783302 |
|
91 |
10127527 |
22/09/2008 |
41,090,988.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A49243801 |
|
92 |
10127529 |
22/09/2008 |
41,090,988.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A49250392 |
|
93 |
10123687 |
08/09/2008 |
971,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A45855384 |
|
94 |
10123915 |
08/09/2008 |
18,224,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A46189171 |
|
95 |
10127531 |
08/09/2008 |
46,370,474.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
A49416555 |
|
96 |
10124767 |
22/11/2011 * |
10,954,300,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, SHIVSAGAR ESTATE WORLI, 1ST FLOOR, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B30025514 |
|
97 |
10091029 |
18/12/2007 |
697,127.00 |
THE SARASWAT CO-OP BANK LTD |
THAKURDWAR BRANCH, 328/330, J.J.S MARG, THAKURDWAR, MUMBAI - 400002, MAHARASHTRA, INDIA |
A33656604 |
|
98 |
10077299 |
29/10/2007 |
377,466.00 |
THE SARASWAT CO.-OP. BANK LIMITED |
THAKURDWAR BRANCH, 328/330, J.J.S MARG, THAKURDWAR, MUMBAI - 400002, MAHARASHTRA, INDIA |
A27423185 |
|
99 |
10077298 |
29/10/2007 |
641,383.00 |
THE SARASWAT CO.-OP. BANK LIMITED |
THAKURDWAR BRANCH, 328/330, J.J.S MARG, THAKURDWAR, MUMBAI - 400002, MAHARASHTRA, INDIA |
A27423847 |
|
100 |
10077294 |
03/09/2007 |
364,641.00 |
THE SARASWAT CO.-OP. BANK LIMITED |
THAKURDWAR BRANCH, 328/330, J.J.S MARG, THAKURDWAR, MUMBAI - 400002, MAHARASHTRA, INDIA |
A27423011 |
|
101 |
10077295 |
03/09/2007 |
397,716.00 |
THE SARASWAT CO.-OP. BANK LIMITED |
THAKURDWAR BRANCH, 328/330, J.J.S MARG, THAKURDWAR, MUMBAI - 400002, MAHARASHTRA, INDIA |
A27423383 |
|
102 |
10077296 |
03/09/2007 |
570,202.00 |
THE SARASWAT CO.-OP. BANK LIMITED |
THAKURDWAR BRANCH, 328/330, J.J.S MARG, THAKURDWAR, MUMBAI - 400002, MAHARASHTRA, INDIA |
A27423631 |
|
103 |
10007117 |
10/07/2007 * |
990,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, SHIVSAGAR ESTATE WORLI, 1ST FLOOR, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
A20585675 |
|
104 |
80065923 |
01/12/2005 |
1,575,000.00 |
SREI INFRASTRUCTURE FINANCE LTD |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
- |
|
105 |
90243933 |
01/12/2005 |
1,575,000.00 |
SREI INFRASTRACTURE FINANCE LTD. |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
- |
|
106 |
80018153 |
03/03/2009 * |
284,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE LOAN ADMIN. UNIT, SHRI HARI BUILDING, RTO LANE, FOUR BUNGALOWS, ANDHERI (WEST), MUMBAI - 400053, MAHARASHTRA, INDIA |
A60778800 |
|
107 |
90243884 |
03/09/2005 |
20,400,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLA. BRANCH, NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans from related parties |
10.850 |
8.842 |
|
Total |
10.850 |
8.842 |
|
NOTES: Represents interest free loan and are repayable on demand. |
||
NOTE
The
registered office of the company has been shifted from 8, Bhawani Services Industrial Estate, 3rd
Floor Opposite IIT Main Gate, Powai, Mumbai – 400076, Maharashtra, India to the
present address.
CORPORATE INFORMATION
The Company was incorporated in the year 1983 and is engaged in construction and development of roads, highways, buildings, bridges, etc. The Company also owns and operates Ready Mix Concrete (“RMC”) plant, Asphalt plant and Crushing plant.
OPERATION AND
PERFORMANCE REVIEW
During the year, the Company’s overall financial performance significantly improved on all fronts as compared to the previous year. Income from optrations during the year was Rs. 19869.500 Millions as compared to Rs. 15059.100 Millions in the previous year, registering a growth of 32%. The Net Profit before Interest, Depreciation and Tax inculding other income during the year was Rs. 3125.300 Millions as compared to Rs. 2462.900 Millions in the previous year, registering a growth of 27%. The Net Profit after Tax was Rs. 1096.400 Millions as compared to Rs. 918.000 Millions in the previous year registering a growth of 19%.
MANAGEMENT DISCUSSION
AND ANALYSIS
ECONOMIC OVERVIEW
FY2013 has been one of the most challenging years globally as well as for the Indian economy. Growth in FY2012 and FY2013 has been on the lower side vis-à-vis the decadal average of 7.9% achieved between FY2004 and FY2013. In FY2013, the Indian economy recorded at 5.0% economic growth, following a growth of 6.2% in the previous fiscal year.
The strong stimulus packages rolled out post-financial crisis led to stronger growth in FY2010 and FY2011. However, the boost to consumption, coupled with supply side constraints, resulted in higher inflation, with headline inflation crossing 10%. Monetary policy was tightened, even as external headwinds to growth increased. The consequent slowdown, especially in FY2013, has been across the board, with most of the sectors getting affected. Economic slowdown during FY2013 is mainly on account of a drastic slowdown in the industrial sector. It grew by 5.0% in FY2013, as against 3.5% in FY2012. The agricultural sector registered significantly lower growth of 1.9% on top of a 3.6% growth in FY2012.
Falling savings, without a commensurate rise in Foreign Direct Investment, further widened the current account deficit (CAD). Widening of trade and current account deficits was accompanied by depreciation in the Indian Rupee since August 2011. After attaining an all-time low of Rs. 57.22 per US$ on June 27, 2012, the Indian Rupee rebounded and moved upwards to touch the range of Rs. 53-55 per US$ in January 2013. Though inflation eased in FY2013 vis-à-vis its FY2012 levels, the pace of decline has been slower than expected, denying requisite flexibility to the central bank to undertake sufficient reduction in the policy rates. However, a growth revival is seen taking shape during FY2014 on the back of reform measures to improve investor sentiments and with the global economic scenario seen improving.
INDUSTRY OVERVIEW
According to the Global Competitiveness Report, India ranked 84th in terms of basic Infrastructure out of a total of 142 countries. The report states that the country’s supply of Transport, ICT (Information, Communications and Technology) and Energy Infrastructure remains largely insufficient and ill-adapted to the needs of the economy. Indeed, the Indian business community repeatedly cites infrastructure as the single biggest hindrance to doing business in the country. However, the situation has been gradually improving since 2006. The total investment in the infrastructure sector during the Twelfth Five Year Plan is estimated at Rs. 56,300 billion (approx. US$1 trillion), nearly double the investment made during the Eleventh Five Year Plan. The Twelfth Plan also lays special emphasis on the development of infrastructure as the availability and quality of infrastructure is important for enabling a sustainable and strong economic growth in the country.
ROADS
Road Transport is a critical infrastructural prerequisite for the economic development of a country. India has the second largest road network in the world with a road length of 4.24 million Kms. In India, Road Infrastructure is used to transport over 60% of the goods and 85% of total passenger traffic. Also, India’s road density is among the highest in the world with 1.29 Kms. of roads per sq. km of area. India’s national highways and expressways (currently at about 79,116 Kms.) constitute about 1.7% of the road length and carry 40% of the total traffic on Indian roads, while the percentage of paved roads is 49.3%. Moreover, India’s road freight volumes are increasing at a compounded annual growth rate (CAGR) of 9.08%, coupled with a boost in the population of vehicles (all types) at a CAGR of 10.76%. To cater to such burgeoning needs, road length is increasing at a CAGR of 4.01%.
THE NATIONAL HIGHWAY
DEVELOPMENT PROJECT
India’s National Highways Development Project (NHDP) is the world’s largest road development program based on Public Private Partnership (PPP) model. The Government of India has entrusted the National Highway Authority of India (NHAI) with the responsibility of implementing the NHDP program spread over 55,000 Kms. (seven phases) with an estimated expenditure of Rs. 4,719.75 billion.
Currently, about 24% of the total length of National Highways (NHs) in India is single lane/intermediate lane, about 51% is twolane standard, and the balance 25% is four-lane standard or more. In FY2013, the achievement under various phases of NHDP (up to December 2012) has been about 1,605 Kms. and projects have been awarded for a total length of about 878 km.
The target under this project for FY2013 was originally aimed at 9,500 Kms. and was later scaled down to 5,000 Kms., with only 2,300 Kms. getting awarded during the year. The dismal performance during the year was preceded by a stellar performance in FY2012, when the NHAI and the Highways Ministry together awarded a record 8,000 Kms. of projects. The decelerating interest for road projects has been attributed to the inordinate delay in various clearances (such as environmental) and with banks shying away from the road sector.
However, the future outlook appears promising as the Ministry of Road Transport and Highways (MoRT&H), along with NHAI having planned to award 7,300 Kms. during FY2014. Further, 3,000 Kms. of road projects in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh will be awarded in the first six months of FY2014. However, the appetite for public-private partnerships (PPPs via BOT toll mode) looks weak as the adverse macro-economic conditions point towards lower traffic growth. With high funding costs having dampened the economic viability of many projects, the MoRT&H is mulling the support of projects through budget allocation with an EPC (Engineering, Procurement and Construction) model for 50% of these works.
As a new initiative for promoting highway development, the mode of EPC contracts has been ushered in. Projects not viable under the BOT (toll) mode, such as those in far-flung areas, will have to be undertaken under the EPC mode. To overcome the economic slowdown in this sector, MoRT&H has finalised a proposal to award projects under the modified turnkey EPC mode with 100% government funding for cases where there are no takers under BOT (toll) mode. This mode of delivery is also seen taking take care of cost and time overruns. Further, a length of 8,500 Kms. under NHDP Phase IV is also proposed to have been undertaken directly under EPC mode for two laning.
In another initiative, the finance ministry has relaxed norms for appraising and approving highway projects up to Rs. 5 billion by MoRT&H. The move aims to help push the awarding of publicfunded projects. Earlier, the committee, under the road secretary, was empowered to appraise projects worth up to Rs. 3 billion. Now the committee can appraise projects valued up to Rs. 5 billion, and the Road Minister will have the power to approve them, thus expediting the process of awarding projects.
POWER
Electricity generation by power utilities during 2012-13 was targeted to go up by 6.05% to 930 billion units. Growth in power generation during April-December 2012 was 4.55%, as compared to about 9.33% during April-December of 2011.
India faces an overall shortage of power both in terms of energy deficit and peak shortage. At present, the overall energy deficit is about 8.6% while the peak shortage of power is about 9.0%. A capacity addition of 54,964 MW has been achieved during the Eleventh Five Year Plan. Initially, the Plan envisaged a capacity addition of 78,000 MW, of which 19.9% capacity was hydro, 75.8% thermal, and the rest was nuclear. At the time of the Mid Term Appraisal (MTA) of the Plan, the target was revised to 62,374 MW with thermal, hydro and nuclear segments contributing 50,757 MW, 8,237 MW and 3,380 MW, respectively.
Capacity addition during the Twelfth Five Year Plan is estimated at 88,537 MW, comprising 26,182 MW in the central sector, 15,530 MW in state, and 46,825 MW in the private sector, respectively. The target for capacity addition during FY2013 was set at 17,956 MW, against which a capacity of 9,854 MW was added till 31st December, 2012.
RAILWAYS
Indian Railways is the fourth largest rail network in the world with a total route length of 64,460 Kms., of which 1,034 Kms. Is electrified. Indian Railways transports 2.65 million tonne (MT) of freight and 23 million passengers every single day. The country transports nearly 57% of total goods by road, as compared to 22% in China and 37% in the U.S. In contrast to this, the share of Indian Railways is only 36%, compared to 48% for the U.S. and 47% for China. The sector has huge opportunity to grow as its current share is still fairly lower than that in China and U.S.
While Indian Railways’ input costs increased by 10.6% per annum between FY2005 and FY2012, passenger fares remained unchanged and have been cross-subsidized by an increase in freight charges. The low passenger fares, which have not been revised for several years, have led to huge losses in passenger traffic operations estimated at Rs. 220 billion in FY2012. Further, cross-subsidy through the freight business was no longer viable due to fast-evolving competition from other modes of transport. Keeping these factors in mind, an increase in passenger fares was announced on 9 January 2013.
India’s Planning Commission has tentatively pegged the Indian Railways’ Twelfth Five Year Plan at Rs. 5,190 billion with a Gross Budgetary Support (GBS) of Rs. 1,940 billion, internal resources of Rs. 1,050 billion, and market borrowing of Rs. 1,200 billion Another Rs. 1,000 billion is expected to be raised through the PPP route. The funding pattern of the Twelfth Plan clearly indicates that modernisation of Indian Railways cannot be achieved by simply relying on GBS as it represents only 37% of the total resources. About 63% of the total resources will have to be generated through non-GBS sources, with nearly 20% coming through private sector investment.
Indian Railways has initiated the PPP projects during the Eleventh Plan in areas such as port connectivity projects, container operations, wagon investment schemes and private freight terminals, but the scope of PPP needs to widened further.
CONSTRUCTION
The building construction industry has been a major barometer of India’s economic development, and therefore, has a significant bearing on the Indian economy. With a total size of around $40-45 billion, the construction sector contributes around 5%-6% to India’s total GDP growth. The industry has witnessed significant growth in the past decade attracting not only domestic developers, but also foreign investors who find strong potential in India, driven by its large population base, rising income levels and rapid urbanisation. According to the Department of Industrial Policy and Promotion (DIPP), the construction sector comprised 12% of India’s total FDI inflows during 2012, second only to the services sector.
The Commercial segment in the construction sector has undergone significant traction over the past decade, which can be attributed to the fast-growing IT/ITES sector, expanding domestic industries and an increasing presence of global corporations setting up back-offices in India due to the presence of a lowcost and efficient workforce. There is an incremental demand for good quality office space across metropolitan cities such as Mumbai, Pune, Bangalore, Hyderabad, Chennai and NCR-Delhi. Adding to this, an increasing number of companies are looking to shift their operations to the suburbs, owing to the availability of large office space with modern amenities at reasonable rates vis-à-vis commercial office space in South Mumbai. Eastern and western suburbs are slowly getting transformed into successful commercial centres.
In the Residential segment, following a steady growth of 7%-8% during FY2011, the industry witnessed a slight moderation in FY2013 due to macro-economic concerns such as high inflation, rising interest rates, slowdown in industrial performance and overall business growth, uncertain job environment etc., leading to consumers holding back on their property purchases. With the global economy on the path of recovery and with the Reserve Bank of India (RBI) signalling lower interest rates in FY2014, this bodes well for reviving the real estate demand in the residential segment.
Recent policy initiatives and measures announced by the Finance Minister during Union Budget FY2013-14 were positive for India’s construction sector. The Government has introduced several schemes to boost residential home sales such as additional interest deduction of Rs. 0.100 millions (over and above the existing Rs. 0.150 millions benefit) for first-time home buyers taking a loan of up to Rs. 2.500 millions. The Government has also allocated Rs. 60 billion towards the Rural Housing Fund, while another Rs. 20 billion Urban Housing Fund by National Housing Bank has also been proposed. These steps are expected to boost fund availability for home buyers and also address the overall housing shortage in the country.
Besides, the RBI has given a go-ahead to foreign citizens of Indian origin to invest in the real estate sector. It has also allowed real estate developers to raise up to $1billion through the European Commercial Borrowings (ECB) route for construction of low-cost housing projects. Furthermore, the Government has allowed 100% FDI under the automatic route in townships, built-up infrastructure and construction development projects, subject to certain conditions.
FUTURE OUTLOOK
The total investment in India’s infrastructure sector was estimated at Rs. 56,300 billion (approx. US$1 trillion) during the Twelfth Five Year Plan, nearly double the estimate of the Eleventh Five Year Plan. Infrastructure development has been a major focus area during the Twelfth Plan as the availability of quality infrastructure is important not only for sustaining high growth, but also ensuring growth is inclusive and equitable.
The Public Private Partnership (PPP) mode of investment is expected to play a key role in the successful implementation of the envisaged plan. During the Eleventh Plan, private sector investment under NHDP has been Rs. 626.29 billion, against a target of Rs. 867.92 billion This is a substantial jump over the achievement in Tenth Plan of Rs. 110.32 billion It’s share in infrastructure investment increased from 22% in the Tenth Five Year Plan to 38% in the Eleventh Plan; it is expected to further shoot up to 48% during the Twelfth Five Year Plan.
BUSINESS OVERVIEW
Incorporated in 1983, Supreme Infrastructure India Ltd. (SIIL) is one of the most diversified infrastructure companies in India for over three decades engaged in the construction of infrastructure and related projects. The Company commenced operations as an aggregate supplier with its own quarries and crusher plants, but gradually evolved and moved up the value chain in the construction sector. Over the years, the Company has built diverse capabilities across various EPC segments such as Roads, Bridges, Buildings, Railways, Power and Water Infrastructure.
With an integrated and derisked business model and robust project management bandwidth, the Company enjoys superior margins and better project execution control in the EPC segment. It has a well-diversified order book spread across verticals and geographies resulting in lower risk. The Company has expanded its footprint in Assam, Arunachal Pradesh, Bihar, Jharkhand and Orissa.
The Company further moved up the value chain and forayed into BOT (Build-Operate-Transfer) Projects through its 100% subsidiary companies, viz. Supreme Infrastructure BOT Pvt. Ltd. and Supreme Infrastructure BOT Holdings Pvt. Ltd. These companies have a current BOT portfolio of 10 BOT projects housed in these subsidiaries, of which four are already operational. The Company continues to lay great emphasis on project execution resulting in timely execution and delivery of all the four BOT projects. It has further de-risked its business model with the EPC portion of BOT being executed by the parent Company – SIIL, boosting it’s order book. This strategy will also reduce the execution risk with SIIL having strong execution capabilities in Roads and Bridges segment. Nonetheless, SIIL remains an EPC focused Company.
FIXED ASSETS
v
Tangible
assets
· Freehold Land
· Leasehold Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office
· Equipment
· Computers
v
Intangible
Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.