MIRA
INFORM REPORT
|
Report Date : |
19.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
COASTAL ENERGY PRIVATE LIMITED |
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Registered Office : |
5th Floor, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
18.02.1997 |
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Com. Reg. No.: |
18-037547 |
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Capital
Investment / Paid-up Capital : |
Rs.67.446 Millions |
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|
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CIN No.: [Company
Identification No.] |
U52599TN1997PTC037547 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC02209E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Non Coking Coal. |
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No. of Employees: |
Not Available |
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB- (Long Term Rating) |
|
Rating Explanation |
Moderate credit quality. It carry average credit risk. |
|
Date |
February 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 : |
5th Floor, |
|
Tel. No.: |
91-44-43974397/ 28255792/
28235379/ 28235380/ 28231440/42964296 |
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Fax No.: |
91-44-28268316/42964297 |
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E-Mail : |
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Website : |
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Corporate Office : |
202-207,
Mahalakshmi Chambers, 22, |
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Tel. No.: |
91-22-23519027 |
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Fax No.: |
91-22-23538567 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Ahamed Rahman Buhari |
|
Designation : |
Director |
|
Address : |
8, |
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Date of Birth/Age : |
20.01.1969 |
|
Date of Appointment : |
18.02.1997 |
|
DIN No.: |
00211221 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45201TN1989PTC017001 |
BUHARI
HOLDINGS PRIVATE LIMITED |
Director |
08-03-89 |
08-03-89 |
- |
Active |
NO |
|
2 |
U52599TN1997PTC037547 |
COASTAL
ENERGY PRIVATE LIMITED |
Managing
director |
18-02-97 |
18-02-97 |
- |
Active |
NO |
|
3 |
U65110TN1964PTC005251 |
BHARI
INDUSTRIAL PROMOTERS PRIVATE LIMITED |
Director |
01-04-99 |
01-04-99 |
21-07-10 |
Active |
NO |
|
4 |
U63090TN1994PTC029438 |
SEAPORT
LOGISTICS PRIVATE LIMITED |
Director |
30-09-03 |
30-09-03 |
06-02-06 |
Active |
NO |
|
5 |
U51102TN1995PLC031016 |
EAST
COAST CONSTRUCTIONS AND INDUSTRIES LIMITED |
Director |
27-01-05 |
27-01-05 |
07-03-11 |
Active |
NO |
|
6 |
U40102TN2006PTC060008 |
COASTAL
GUJARAT POWERGEN PRIVATE LIMITED |
Director |
29-05-06 |
29-05-06 |
- |
Amalgamated |
NO |
|
7 |
U40102TN2006PTC060009 |
COASTAL
ENERGEN PRIVATE LIMITED |
Director |
29-05-06 |
29-05-06 |
- |
Active |
NO |
|
8 |
U40101TN2006PTC060071 |
COASTAL
GUJARAT POWER GENCO PRIVATE LIMITED |
Director |
02-06-06 |
02-06-06 |
- |
Active |
NO |
|
9 |
U65993TN2010PTC076110 |
BUHARI
AUTO HOLDINGS PRIVATE LIMITED |
Director |
11-06-10 |
11-06-10 |
- |
Active |
NO |
|
Name : |
Mr. Noohu Mohamed Ameer Fizel |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
17.12.1962 |
|
Date of Appointment : |
18.02.1997 |
|
DIN No.: |
02051427 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U52599TN1997PTC037547 |
COASTAL
ENERGY PRIVATE LIMITED |
Director |
18-02-97 |
18-02-97 |
- |
Active |
NO |
|
2 |
U63090TN1994PTC029438 |
SEAPORT
LOGISTICS PRIVATE LIMITED |
Director |
30-09-03 |
30-09-03 |
03-08-07 |
Active |
NO |
|
3 |
U40102TN2006PTC060009 |
COASTAL
ENERGEN PRIVATE LIMITED |
Director |
29-05-06 |
29-05-06 |
29-04-08 |
Active |
NO |
|
4 |
U40101TN2006PTC060071 |
COASTAL
GUJARAT POWER GENCO PRIVATE LIMITED |
Director |
02-06-06 |
02-06-06 |
- |
Active |
NO |
|
5 |
U61100TN2008PTC069733 |
PIONEER
MARINE SERVICES PRIVATE LIMITED |
Director |
31-10-08 |
31-10-08 |
30-05-09 |
Active |
NO |
|
6 |
U45200TN2012PTC084923 |
CANDOUR
CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED |
Director |
14-03-12 |
14-03-12 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Fossil Investments Limited - |
6744393 |
|
Ahmed Buhari |
100 |
|
Abdul Qadir AR Buhari |
100 |
|
TOTAL
|
6744593 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
99.00 |
|
Directors or relatives of Directors |
1.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Non Coking Coal. |
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Products : |
Steaming Coal |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Corporation Bank, ·
IDBI Bank Limited, IDBI Towerwtc Complex,
Cuffe Parade, Mumbai - 400005, Maharashtra, India ·
Barclays Bank Plc, 1st Floor, 69,
Vallai Pachiappan Street, Kamaraj Salai, Kanchipuram-631501, Tamilnadu, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N.C. Rajagopal and Company Chartered Accountants |
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Address : |
22, |
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Tel. No.: |
91-44-24991569/ 24993056/ 24991095/
24987746/ 24986170 |
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Fax No.: |
91-44-24991485 |
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E-Mail : |
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PAN No.: |
AAAFN0572A |
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Holding Company : |
·
Fossil Investments (Mauritius) |
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Related Parties : |
·
Coal and Oil Company LLC ·
Buhari Estate and Company ·
Buharia Holdings Private Limited CIN No.:- U45201TN1989PTC017001 ·
Bhari Industrial Promoters Private Limited (Elite
Petrol Service) CIN No.:- U65110TN1964PTC005251 ·
Coastal Energen Private Limited CIN No.:- U40102TN2006PTC060009 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6744593 |
Equity Shares |
Rs.10/- each |
Rs. 67.446
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
67.446 |
67.446 |
67.446 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
604.925 |
537.822 |
492.450 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
672.371 |
605.268 |
559.896 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1114.312 |
863.793 |
688.949 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1114.312 |
863.793 |
688.949 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1786.683 |
1469.061 |
1248.845 |
|
|
|
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|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
144.893 |
160.962 |
174.784 |
|
|
Capital work-in-progress |
9.358 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
7.348 |
8.683 |
6.605 |
|
|
DEFERREX TAX ASSETS |
0.140 |
0.628 |
0.510 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1923.694
|
2315.449
|
1712.035
|
|
|
Sundry Debtors |
7321.679
|
2330.834
|
2375.565
|
|
|
Cash & Bank Balances |
1036.501
|
870.215
|
814.990
|
|
|
Other Current Assets |
149.319
|
93.102
|
0.000
|
|
|
Loans & Advances |
2116.581
|
1035.563
|
951.702
|
|
Total
Current Assets |
12547.774
|
6645.163 |
5854.292 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10635.294
|
5231.798
|
1973.776
|
|
|
Other Current Liabilities |
285.163
|
112.859
|
2683.603
|
|
|
Provisions |
2.373
|
1.718
|
129.967
|
|
Total
Current Liabilities |
10922.830
|
5346.375 |
4787.346 |
|
|
Net Current Assets |
1624.944
|
1298.788
|
1066.946
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1786.683 |
1469.061 |
1248.845 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
11711.451 |
8250.088 |
|
|
|
Other Income |
|
(75.407) |
440.815 |
|
|
|
TOTAL (A) |
13875.700 |
11636.044 |
8690.903 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
10667.152 |
6237.030 |
|
|
|
Direct Expenses |
|
1018.422 |
1065.291 |
|
|
|
Administrative Expenses |
|
90.107 |
60.800 |
|
|
|
Employees Cost |
|
106.118 |
87.882 |
|
|
|
Selling & Distribution Expenses |
|
42.304 |
39.137 |
|
|
|
Increase/(Decrease) in Stock |
|
(603.414) |
875.502 |
|
|
|
TOTAL (B) |
13508.400 |
11320.689 |
8365.642 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
367.300 |
315.355 |
325.261 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
247.300 |
209.272 |
224.794 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
120.000 |
106.083 |
100.467 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.900 |
23.314 |
22.233 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
101.100 |
82.769 |
78.234 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.000 |
37.397 |
27.461 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
67.100 |
45.372 |
50.773 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
431.000 |
385.573 |
334.800 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
498.100 |
430.945 |
385.573 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Coal |
10918.644 |
10351.388 |
6143.992 |
|
|
TOTAL IMPORTS |
10918.644 |
10351.388 |
6143.992 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.95 |
6.73 |
7.53 |
|
%2019-Oct-2013_files/image001.gif){kind=small}
%2019-Oct-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.48
|
0.39 |
0.58
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.71 |
0.95
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.80
|
1.22 |
1.30
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.14 |
0.14
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.66
|
1.43 |
1.23
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.24 |
1.22
|
LOCAL AGENCY FURTHER INFORMATION
Note
The registered office of the company has been shifted from
No.5,
REVIEW OF
OPERATIONS
They take great pride
in sharing with you all that the company is entering its 15th year
of operations and has grown from strength to strength. Their Company has
further consolidated its position in volumes as the Second largest Importer of
non-coking coal in India.
The company has
recorded a turnover of Rs.13875.700 Millions and Net Profit After Tax of
Rs.67.100 Millions during the Financial Year 2011-12. The company successfully
won and completed major order from MAHAGENCO (9 Lac MT) during the year.
FORM 8
|
Corporate
identity number of the company |
U52599TN1997PTC037547 |
|
Name of the
company |
COASTAL ENERGY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5th Floor, E-Mail: srivatchanr@coastalfuel.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80022194 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Corporation Bank, George Town Branch, 101 Armenian Street,, Chennai - 600001, Tamil Nadu, India |
|
Nature of instrument
creating charge |
Common Deed of
Hypothecation of Movables/Assets/Debts Dated 22nd March 2013 |
|
Date of
instrument Creating the charge |
22.03.2013 |
|
Amount secured by
the charge |
Rs. 1750.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest CC: Base rate
+4.75% i.e.15.00 % p.a. at present LC : 75% of
applicable charges BG 1% p.a. + ST Buyers' credit :
50% of applicable rates Terms of repayment CC- running
account repayable on demand subject to annual review. Margin CC: Book debts :
25% LC: 7.50% Cash
margin Extent and operation of the charge Exclusive first
charge by way of hypothecation of stock consisting of coal, petroleum coke,
anthracite and coke at Company premises or elsewhere on pari passu with
financing banks Exclusive first
charge by way of hypothecation on the receivables of the Company on pari
passu basis with financing banks Other Breakup of Amount
secured: CC : Rs.150.000
Millions Import/Inland LC
cum BG - Buyers' credit : Rs.1600.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Exclusive first
charge by way of hypothecation of stock consisting of coal, petroleum coke,
anthracite and coke at Company premises or elsewhere on pari passu with
financing banks Exclusive first
charge by way of hypothecation on the receivables of the Company on pari
passu basis with financing banks |
|
Date of
instrument modifying the charge |
16.03.2012 |
|
Particulars of
the present modification |
By the present
modification, the credit limits are revised to Rs.1750.000 Millions with
breakup as under:- CC : Rs.150.000
Millions Import/Inland LC
cum BG - Buyers' credit : Rs.1600.000 Millions |
FIXED ASSETS
·
Land and Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Cycle
·
Motor Car
·
Computers
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. 61.28 |
|
|
1 |
Rs. 99.03 |
|
Euro |
1 |
Rs. 83.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.