MIRA
INFORM REPORT
|
Report Date : |
29.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MONNET ISPAT AND ENERGY LIMITED (w.e.f
12.01.2006) |
|
|
|
|
Formerly Known
As : |
MONNET ISPAT LIMITED |
|
|
|
|
Registered
Office : |
Monnet Marg, Mandir Hasaud, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.02.1990 |
|
|
|
|
Com. Reg. No.: |
53-009826 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 643.550
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L02710CT1990PLC009826 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM09084F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM0501D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturers of Sponge Iron, Steel and Ferro Alloys. |
|
|
|
|
No. of Employees
: |
7000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 94000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is the flagship company of the Monnet Group. It is a well
established company having a fine track record. The company has generated healthy cash flows and profitable operations
over years. Financial position of the company appears to be good and healthy.
Trade relations are reported as trustworthy. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good 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.
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 finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology major
Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities : AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
7 December 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities : A1+ |
|
Rating Explanation |
Very Strong degree of safety and low credit
risk |
|
Date |
7 December 2012 |
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 : |
Mr. Kamal Tanna |
|
Designation : |
Assistance General Management |
|
Contact No.: |
91-771-2471334 |
|
Date : |
28.10.2013 |
LOCATIONS
|
Registered Office / Factory 1: |
Monnet Marg, Mandir Hasaud, Raipur – 492101, Chhattisgarh, India |
|
Tel No. : |
91-771-2471334-339 |
|
Fax No. : |
91-771-2471250 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Monnet House, 11, Masjid Moth, Greater Kailash Part-ll, New
Delhi-110048, |
|
Tel. No.: |
91-11-29218542-46 |
|
Fax No.: |
91-11-29218541 |
|
E-mail : |
|
|
|
|
|
Factory 2 : |
Monnet Marg, Mandir Hasaud, Raipur – 492101, Chhattisgarh, India |
|
Tel. No.: |
91–771–2471 334–339 |
|
Fax No.: |
91 –771-2471-250 |
|
E-mail : |
|
|
|
|
|
Factory 3 : |
Village - Naharpali, Tehsil - Kharsia, District Raigarh - 496661, Chhattisgarh, India |
|
Tel No. : |
91–7762-275451/
52 |
|
Fax No. : |
91–7762-275455 |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
|
|
Tel No. : |
91-6764-224001 / 224002 |
|
Fax No. : |
91-6764-224003 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Sandeep Jajodia |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. C. P. Baid |
|
Designation : |
Dy. Managing Director |
|
|
|
|
Name : |
N.C. Jha |
|
Designation : |
Whole-time Director |
|
|
|
|
Name : |
Mr. G.C. Mrig |
|
Designation : |
Non Executive Independent Director |
|
|
|
|
Name : |
Mr. Amit Dixit |
|
Designation : |
Non Executive Independent Director |
|
|
|
|
Name : |
Mr. Ajay Relan |
|
Designation : |
Non Executive Independent Director |
|
|
|
|
Name : |
Mr. Vikram Deswal |
|
Designation : |
Non Executive Independent Director |
|
|
|
|
Name : |
Mr. Gopal Tiwari |
|
Designation : |
Non Executive Director |
|
|
|
|
Name : |
Mr. J.P. Lath |
|
Designation : |
Non Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Kamal Tanna |
|
Designation : |
Assistance General Management |
|
|
|
|
Name : |
Mr. M.P. Kharbanda |
|
Designation : |
Company Secretary |
|
|
|
|
Board Committees |
|
|
Audit Committee |
Mr. G.C. Mrig, Chairman Mr. Ajay Relan, Member Mr. J.P. Lath, Member Mr. M.P Kharbanda, Secretary |
|
|
|
|
Shareholders /
Investors' Grievance Committee |
Mr. J.P. Lath Mr. Gopal Tiwari Mr. C. P. Baid |
|
|
|
|
Remuneration
Committee |
Mr. G.C. Mrig Mr. Gopal Tiwari Mr. J.P. Lath |
|
|
|
|
Finance Committee |
Mr. Sandeep Jajodia Mr. C.P. Baid Mr. J.P. Lath |
|
|
|
|
Executive
Committee |
Mr. Sandeep Jajodia Mr. C.P. Baid Mr. J.P. Lath |
|
|
|
|
Share Transfer
Committee |
Mr. J.R Lath Mr. C.P. Baid Mr. M.P Kharbanda |
|
|
|
|
Name : |
Mr. Devi Mathur |
|
Designation : |
Senior Vice President of Finance of Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
254448 |
0.40 |
|
|
25509725 |
40.03 |
|
|
6046168 |
9.49 |
|
|
6046168 |
9.49 |
|
|
31810341 |
49.91 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
31810341 |
49.91 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
9751 |
0.02 |
|
|
66390 |
0.10 |
|
|
581356 |
0.91 |
|
|
24717528 |
38.78 |
|
|
25375025 |
39.82 |
|
|
|
|
|
|
4379010 |
6.87 |
|
|
|
|
|
|
1769850 |
2.78 |
|
|
242979 |
0.38 |
|
|
154476 |
0.24 |
|
|
56675 |
0.09 |
|
|
93505 |
0.15 |
|
|
2296 |
0.00 |
|
|
2000 |
0.00 |
|
|
6546315 |
10.27 |
|
Total Public shareholding (B) |
31921340 |
50.09 |
|
Total (A)+(B) |
63731681 |
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) |
63731681 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Sponge Iron, Steel and Ferro Alloys. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cash and Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2012)
|
A. Production |
Units |
31.03.2012 |
|
- Sponge Iron |
MT |
742194 |
|
- MS /SS Products |
MT |
98061 |
|
-Structural Steel |
MT |
81204 |
|
- Ferro Alloys |
MT |
8993 |
|
-Coal |
MT |
850505 |
|
- Power |
‘000 Units |
858238 |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
7000 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Ø Axis Bank Limited Ø Bank of Baroda Ø Bank of India Ø Central Bank of India Ø Dena Bank Ø ICICI Bank Limited Ø Indian Bank Ø Indian Overseas Ø Standard Chartered Bank Ø L and T Infrastructure Finance Company Limited Ø Life Insurance Corporation of India Ø Oriental Bank of Commerce Ø Punjab National Bank Ø State Bank of Bikaner and Jaipur Ø State Bank of Hyderabad Ø State Bank of India Ø State Bank of Patiala Ø The Jammu and Kashmir Bank Limited Ø UCO Bank Ø United Bank of India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
O.P. Bagla and Company Chartered Accountants |
|
Address : |
|
|
|
|
|
|
Ø A.P. Coal
Washeries Private Limited Ø Monnet Global
Limited Ø Monnet Overseas
Limited Ø Monnet Daniel
Coal Washeries Private Limited Ø Monnet Power
Company Limited Ø Monnet Cement
Limited Ø Monnet
Enterprises PTE Limited Ø Rameshwaram
Steel and Power Private Limited Ø Chattel
Constructions Private Limited Ø Chomal Exports
private limited |
|
|
|
|
Subsidiary of Subsidiaries : |
Ø Pt Monnet Global Ø Monnet
Enterprises DMCC Ø Pt. Serwa
Sembada Karya Bumi Ø Monnet Global
Liberia Limited Ø Monnet Global
Guinea S.A. Ø Monnet Global
Mali S.A. |
|
|
|
|
Joint Ventures : |
Ø MP Monnet Mining Company Limited Ø
Mandakini Coal Company Limited Ø
Urtan North Mining Company Limited Ø
Monnet Ecomaister Enviro Private Limited |
CAPITAL STRUCTURE
AFTER 29.09.2012
Authorised Capital : Rs.2570.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 2387.317
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,20,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1320.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,43,37,807 |
Equity Shares |
Rs.10/- each |
Rs. 643.378
Millions |
|
|
Add: Shares forfeited amount originally paid up |
|
Rs. 0.172
Million |
|
|
Total |
|
Rs. 643.550 Millions |
a) During the year, the Company has not issued /
bought back any shares. Reconciliation of shares outstanding at the beginning
and at the end of the reporting period is given below:
|
Particulars |
31.03.2012 |
|
Number of shares outstanding as at the beginning of the year |
64337807 |
|
Shares allotted against warrants |
0 |
|
Shares allotted on conversion of Convertible Instruments |
0 |
|
Shares allotted pursuant to Merger |
0 |
|
Number of shares outstanding as at the end of the year |
64337807 |
b) The holders of
the equity shares are entitled to receive dividends as declared from time to
time, and are entitled to voting rights
proportionate to their share holding at the meeting of shareholders.
c) Following
Shareholders’ hold equity shares more than 5% of the total equity shares of the Company at the end of the period :-
|
Particulars |
%
of Shareholding 31.03.2012 |
|
Pavitra Commercials Limited |
6.35 |
|
Cecil Webber Engineering Limited |
6.57 |
|
Kamdhenu Enterprise Limited |
10.50 |
|
Udhyam Merchandise Private Limited |
15.47 |
|
Chaturanan industries Limited |
Nil |
|
Nayan Traders Private Limited |
Nil |
|
Nikunj Jajodia |
Below 5% |
|
Blackstone GPV Capital Partners Mauritius |
7.10 |
|
Deutsche Securities Mauritius Limited (FII Custodian) |
8.23 |
d) The Company has
issued the following shares for a consideration other than cash or bonus shares
during the immediately preceding 5 years:
47,22,539 equity
shares of t10 each were allotted as fully paid up for consideration other than cash pursuant to scheme of
amalgamation of M/s. Mounteverest Trading and Investment Limited with the Company
as per order dated 19-1 1-2010 passed by Honourable High Court of Chattisgarh.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
643.550 |
643.550 |
|
(b) Reserves & Surplus |
|
22959.944 |
20257.806 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
23603.494 |
20901.356 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
28904.574 |
16373.824 |
|
(b) Deferred tax liabilities (Net) |
|
1504.990 |
1412.382 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
62.379 |
33.621 |
|
Total Non-current Liabilities (3) |
|
30471.943 |
17819.827 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
9439.328 |
9689.749 |
|
(b) Trade payables |
|
611.827 |
1223.573 |
|
(c) Other current
liabilities |
|
4776.579 |
1770.110 |
|
(d) Short-term provisions |
|
186.466 |
373.875 |
|
Total Current Liabilities (4) |
|
15014.200 |
13057.307 |
|
|
|
|
|
|
TOTAL |
|
69089.637 |
51778.490 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
13786.959 |
10935.681 |
|
(ii) Intangible Assets |
|
0.538 |
1.451 |
|
(iii) Capital
work-in-progress |
|
20219.300 |
10653.295 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
5902.802 |
5167.046 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4433.586 |
4714.504 |
|
(e) Other Non-current assets |
|
797.352 |
11.607 |
|
Total Non-Current Assets |
|
45140.537 |
31483.584 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
10.259 |
333.045 |
|
(b) Inventories |
|
5623.675 |
3604.253 |
|
(c) Trade receivables |
|
1788.205 |
1897.968 |
|
(d) Cash and cash
equivalents |
|
8733.295 |
6869.492 |
|
(e) Short-term loans and
advances |
|
7724.404 |
7566.719 |
|
(f) Other current assets |
|
69.262 |
23.429 |
|
Total Current Assets |
|
23949.100 |
20294.906 |
|
|
|
|
|
|
TOTAL |
|
69089.637 |
51778.490 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
544.786 |
|
|
2] Subscription Against Share Warrants |
|
|
268.825 |
|
|
3] Share Application Money |
|
|
0.000 |
|
|
4] Reserves & Surplus |
|
|
15916.860 |
|
|
5] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
16730.471 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
12509.230 |
|
|
2] Unsecured Loans |
|
|
2440.605 |
|
|
TOTAL BORROWING |
|
|
14949.835 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1319.333 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
32999.639 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
11283.170 |
|
|
Capital work-in-progress |
|
|
7212.132 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5454.039 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2188.051
|
|
|
Sundry Debtors |
|
|
1288.661
|
|
|
Cash & Bank Balances |
|
|
2052.423
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
5898.310
|
|
Total
Current Assets |
|
|
11427.445 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1491.496
|
|
|
Other Current Liabilities |
|
|
311.542
|
|
|
Provisions |
|
|
758.317
|
|
Total
Current Liabilities |
|
|
2561.355 |
|
|
Net Current Assets |
|
|
8866.090 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
184.208 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
32999.639 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
18973.846 |
15730.493 |
14806.952 |
|
|
|
Other Income |
631.536 |
293.217 |
317.501 |
|
|
|
TOTAL (A) |
19605.382 |
16023.710 |
15124.453 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
12079.516 |
|
|
|
|
|
Purchase of stock in trade |
0.000 |
11.243 |
|
|
|
|
Changes in inventories |
(661.229) |
(436.953) |
|
|
|
|
Employee benefit expense |
945.380 |
746.286 |
|
|
|
|
Other Expenses |
1863.254 |
1718.907 |
|
|
|
|
TOTAL (B) |
14226.921 |
11359.811 |
10166.915 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5378.461 |
4663.899 |
4957.538 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
867.022 |
309.952 |
927.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4511.439 |
4353.947 |
4029.653 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
741.068 |
738.638 |
716.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3770.371 |
3615.309 |
3312.998 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
881.766 |
803.732 |
621.955 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2888.605 |
2811.577 |
2691.043 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9883.160 |
8067.514 |
6036.554 |
|
|
|
|
|
|
|
|
|
|
BALANCE
B/F ON AMALGAMATION |
0.000 |
0.000 |
116.427 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
160.439 |
321.689 |
285.876 |
|
|
|
Tax on Dividend |
26.027 |
52.186 |
48.585 |
|
|
|
Dividend paid |
0.000 |
25.030 |
0.000 |
|
|
|
Transfer to General Reserve |
289.000 |
282.000 |
270.000 |
|
|
|
Transfer to Debenture Redemption Reserve |
315.889 |
315.026 |
172.049 |
|
|
BALANCE CARRIED
TO THE B/S |
11980.410 |
9883.160 |
8067.514 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
987.999 |
813.119 |
466.427 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
10.054 |
|
|
|
Capital Goods including Spares |
1456.898 |
1018.015 |
68.217 |
|
|
TOTAL IMPORTS |
1456.898 |
1018.015 |
78.271 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
44.90 |
48.61 |
53.64 |
|
|
|
Diluted
|
43.48 |
46.91 |
47.73 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
19570.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 21000.000 Millions
The above information has been parted by Mr. Kamal Tanna
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
30.06.2013 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
5th
Quarter |
|
Sales Turnover |
5264.800 |
5494.000 |
4659.300 |
4378.100 |
4801.600 |
|
Total Expenditure |
3904.700 |
4191.100 |
3498.900 |
3308.700 |
3654.400 |
|
PBIDT (Excl OI) |
1360.100 |
1302.900 |
1160.400 |
1069.400 |
1147.200 |
|
Other Income |
55.000 |
51.000 |
117.700 |
252.700 |
236.200 |
|
Operating Profit |
1415.100 |
1353.900 |
1278.100 |
1322.100 |
1383.400 |
|
Interest |
304.800 |
200.700 |
289.400 |
301.200 |
394.800 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
1110.300 |
1153.200 |
988.700 |
1020.900 |
988.600 |
|
Depreciation |
219.700 |
221.300 |
222.000 |
226.000 |
264.000 |
|
Profit Before Tax |
890.600 |
931.900 |
766.700 |
794.900 |
724.600 |
|
Tax |
205.600 |
219.000 |
191.800 |
264.500 |
199.600 |
|
Provision and Contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Reported PAT |
685.000 |
712.900 |
574.900 |
530.400 |
525.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
685.000 |
712.900 |
574.9.000 |
530.400 |
525.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
14.73 |
17.55
|
17.79
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.87 |
22.98
|
22.37
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.78 |
10.15
|
14.59
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17
|
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.62 |
1.25
|
0.89
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.17 |
7.26
|
4.46
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
PRESS RELEASE
MONNET GROUP
ANNOUNCES SCHOLARSHIPS FOR STUDENTS
Raipur, June 04, 2013 - Monnet Foundation, the CSR arm of Subject announced scholarships for the students of Monnet DAV Public School, located at Mandir Hasaud, Raipur. The students who scored CGPA of 9.5 or more in class 10 thwere awarded with a scholarship of 100% school fee concession for the next session. 100 % school fee concession for the next session was also announced for the toppers of the students from class 1 to class 9 and class 11.
Three students of Monnet DAV Public School, Bhushan Thakre, Pankaj Singh and Parvati Karkey secured 10 CGPA in the board examination of class 10th conducted by Central Board of Secondary Education (CBSE) 2013
Also, with an aim of encouraging students to pursue higher education, Monnet Foundation announced that below the poverty line students of Monnet DAV Public School from neighboring villages, who will score CGPA of 9.5 or more shall be entitled for reimbursement of education fee of any professional college for taking up Medical and Engineering courses.
To promote sports and the spirit of sportsmanship amongst the student's, scholarships were announced for students performing well in sports. If any student of Monnet DAV Public School brings a gold or silver or bronze medal at state/ national level, that student will be given a scholarship of Rs 1000, Rs750 and Rs.500 respectively per month for a period of one year towards nutritional assistance.
Speaking on the occasion, Mr. Sandeep Jajodia, Chairman and Managing Director, Subject said, "Monnet Foundation lays special emphasis on imparting quality education and providing modern education facilities to students for their overall growth. Therefore with an of imparting quality education to the children of MIEL's employees, workers and villagers in the surrounding areas, Monnet Group through Monnet Foundation has set up Monnet DAV Public Schools around its facilities in Raipur and Raigarh. "
"It is very heartening to state that our schools have been producing better results year by year, both in academics and sports. It is indeed a very proud moment for us and I would like to congratulate all the students of Monnet DAV Public school for their outstanding performance this year." He added.
MONNET Q1 NET PROFIT
DOWN 23% AT RS 52.5 CRORE
Monnet Ispat and Energy today reported 23 percent decline in stand alone net profit at Rs 525.000 millions for the quarter ended June 30 due to a drop in sales.
The company had reported a standalone net profit of Rs 685.000 millions in the
corresponding quarter of last fiscal, the company said in a filing to BSE.
Also read: Essar Oil
eyes reasonable debt/EBITDA figures in next 2yrs
Net sales of the company were down by 9.7 percent to Rs 4698.000 millions from
Rs 5206.000 millions is the same period of the previous fiscal, the company
said.
The total expenses of the company dipped to Rs 3918.000 millions from Rs
4120.000 millions in the same quarter of the last financial year.
"The company does not have any exceptional or extraordinary item to
report," the domestic steel firm said.
Monnet Ispat and Energy had earlier raised Rs 1750.000 millions by issuing shares on preferential basis.
Monnet Ispat and Energy is actively considering scrapping its proposed 15.000 million tonnes plant in Jharkhand.
The sponge iron and power producer has proposed 15.000 million tonnes per annum (MTPA) green field steel plant in Jharkhand. It is now considering withdrawing the plans for want of raw material, water and land.
The shares of the company closed at Rs 102.75 a piece on BSE, up 1.88 percent
from the previous close.
STATUS OF EXPANSIONS:
Steel:
The steel expansion at Raigarh is progressing as per schedule. 80 MW Power Plant is completed and commenced. Facilities like Blast Furnace, Sinter Plant, Rebar Mill etc. are getting commenced during the year and Pellet Plant and Coke Oven Plant will get completed in the 1st half of next financial year.
Power (Monnet Power
Company Limited)
The Power Project of 1050 MW being set up in MPCL a subsidiary Company at Angul is also progressing with major milestones like boiler drum lifting and TG deck casting having been completed for both unit 1 and unit 2. TG Building structure is in progress. The Company is well placed with work order on other modules like power evacuation system, cooling tower, intake water system besides two-third of chimney height having been erected. Boiler light-up is proposed in July 2013 with synchronization proposed in Sep-Oct 2013 for Unit 1 and December 2013 for Unit 2.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRIAL STRUCTURE
AND DEVELOPMENTS / RISKS AND CONCERNS:
India emerged as the 4th largest producer of crude steel in the world as per data upto 31-12-2011 and it continues to remain the largest producer of DRI in the world. The crude steel production has grown mainly due to electric route of steel making particularly induction furnace route that accounts for 32% of total steel production.
During five year period of 2005-06 to 2010-11, the capacity of crude steel production expanded from 51.17 MT to 78 MT on annual basis and the production of crude steel grew from 46.46 MT to 69.57 MT at an annual growth of 8%. The capacity utilization of crude steel, thus, as per the last numbers was at encouraging 89%.
The production of finished steel grew to 66.01 MT during 2010-11 as against 46.57 MT in 2005-06 with an annual growth of 7% but the consumption of finished steel grew at an annual growth of 9.6% during the same period. The export of steel grew by 23.8% and import reduced by 7%. However, India still remains to be net importer of steel.
India continues to be the largest producer of sponge iron in the world in 2011 mainly on account of domestic availability of thermal coal and iron ore, the key resources for sponge iron. The contribution of coal based sponge iron is to the tune of 80% out of the total production. The total capacity of sponge iron industry stands at 35 MT. Though, India remains to be net exporter of pig iron which is mainly contributed by private sector. The Government has taken steps to discourage export of iron ore by increasing the ad valorem duty to 30% on all varieties of steel except pellets. There are no significant numbers of import/export of sponge iron.
Sponge iron industry has become highly sensitive to the supply and pricing of coal and iron ore. Both the raw materials are exposed to volatilities of pricing and supply which is quite challenging to the players exposed to open market purchases. Coal availability has become more critical in the last two years, whereas both availability and pricing have become volatile in iron ore.
OPPORTUNITIES AND
THREATS / OUTLOOK
The Indian Economy is poised at a critical juncture with deceleration in GDP growth of the country. The investment cycle in the country has deteriorated mainly in capital goods and infrastructure in the last one year. The environment in the industry has become most challenging. The aggregate developments in the Global and local economy in the last one year have compounded the uncertainty in the economic outlook and its impact on commodity cycle. Demand for commodities including steel in the indigenous and global market is under pressure. The economic activity in the world is locked by problem in different regions and countries across the Globe. A major policy boost on the regulatory front and quick initiatives by the Government are required to renew the momentum of investment cycle to arrest any further downward pressure on the economy.
However, this blockage of investment has equally impacted the steel industry and the industry is not adding or announcing fresh capacities except the additions in the capacities currently in progress in various companies. Issues of land aggregation and basic clearances have become a prolonged activity before physical mobilization of the projects. Therefore, the current virtual status quo in fresh expansions may result into a virtual freeze in supplies over the next few years. That is going to create enormous opportunities for the companies who are implementing or have completed their expansions, while the basic demand of steel will continue to grow relative to the growth of GDP. Country may face supply side constraints, and is painting a very rosy picture for the industry for the future. Nonetheless, the current and ensuing year could be threatening to the companies which are completely exposed to raw material procurement from the open market and market conditions.
India has abundant resources of thermal coal and iron ore, the reasons for India`s rise as largest producer of sponge iron. The structure of sponge iron industry may be classified into organized and large players with 0.2 MT and higher capacities, and smaller players with 0.5 MT to 0.2 MT capacities. Some of the larger players have been able to integrate their operations partially or fully but the integration is missing in most of the small segment which has made them vulnerable to situations of depressed demands or low off takes. The operational sustainability of these players in times of low demands is extremely week resulting in partial or full closure of their operations. Thus, it reduces the supply in the industry which invariably helps the larger players in terms of their sale and margins. Therefore, partial or full integration to raw material is critical in the sponge iron.
Segment wise or
Product wise Performance and Discussion on Financial Performance with respect
to Operational Performance:
During the year, there have been no capacity additions at the plant. The production of Sponge Iron and Steel has reported growth mainly on account sof higher capacity utilization, whereas Coal and Power Generation experienced marginal decrease. Consequently, both divisions have doubled the production during the year under report.
During the year, the Company has reported an increase in revenue by Rs. 3240.000 Millions over previous year and Profit before interest and depreciation has increased to Rs.5380.000 Millions from Rs.4660.000 Millions. Net profit however, remained flat on account of incidence of higher costs of raw material and overheads.
UNSECURED LOANS
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Long term
Borrowing |
|
|
|
0% Fully Convertible Debenture of Rs. 1000/- each. |
392.625 |
392.625 |
|
Rupee loans |
1500.000 |
0.000 |
|
Short term
Borrowing |
|
|
|
Foreign currency loans |
536.684 |
1973.300 |
|
Rupee loans |
4510.478 |
5023.941 |
|
Total |
6939.787 |
7389.866 |
|
NOTE: a) Working
capital facilities from banks are secured by first charge on movable current
assets and second charge on all immovable assets of the Company. These
working capital loans are further guaranteed by Managing Director of the Company. b) Out of the Short Term Rupee Loans, Rs. 2499.400 Millions since repaid. |
||
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Claims against the company not acknowledged as debt |
|
|
|
- In respect of disputed Excise Demands |
161.697 |
81.533 |
|
- In respect of disputed Sales Tax Demands |
71.460 |
9.514 |
|
- In respect of disputed Entry Tax Demands |
101.689 |
64.233 |
|
- In respect of disputed Income Tax Demands |
290.860 |
295.200 |
|
- In respect of disputed Demands for water charges by Water Resources Division. |
107.544 |
40.244 |
|
- In respect of electricity Duty on generation of power |
352.509 |
187.058 |
|
- Other claims against the Company not acknowledged as debt. |
107.670 |
33.610 |
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2013
(Rs. In Millions)
|
SLNo. |
Particulars |
30.06.2013 (Unaudited)
|
31.03.2013 (Unaudited) |
30.06.2012 (Unaudited) |
31.03.2013 (Audited)
|
|
1 |
Income from Operations |
|
|
|
|
|
|
(a) Net Sales/Income from
Operations (Net of excise duty) |
4698.900 |
4322.300 |
5206.200 |
19574.300 |
|
|
(b) Other Operating
Income |
102.700 |
55.800 |
58.600 |
221.900 |
|
|
Total income from
operations (net) |
4801.600 |
4378.100 |
5264.800 |
19796.200 |
|
2 |
Expenses |
|
|
|
|
|
|
(a) Cost of Materials
consumed |
3538.700 |
1848.100 |
3362.200 |
11736.900 |
|
|
(b) Purchase of
stock-in-trade |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
(c) Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(652.400) |
722.700 |
(134.400) |
7.700 |
|
|
(d) Employee benefits
expenses |
268.700 |
286.200 |
252.200 |
1084.700 |
|
|
(e) Depreciation and
amortization expense |
264.000 |
226.000 |
219.700 |
889.000 |
|
|
(f) Other expenses(Any
item exceeding 10% of the total expenses relating to continuing operations to
be shown separately) |
499.400 |
451.700 |
424.700 |
1988.100 |
|
|
Total Expenses |
3918.400 |
3534.700 |
4124.400 |
15706.400 |
|
3. |
Profit / (Loss) from
operations before other income, finance costs and exceptional items (1-2) |
883.200 |
843.400 |
1140.400 |
4089.800 |
|
4 |
Other Income |
236.200 |
252.700 |
55.000 |
486.400 |
|
5 |
Profit / (Loss) from
ordinary activities before finance costs and exceptional items (3 + 4) |
1119.400 |
1096.100 |
1195.400 |
4576.200 |
|
6 |
Finance Costs |
394.800 |
301.200 |
304.800 |
1192.100 |
|
7 |
Profit / (Loss) from
ordinary activities after finance costs but before exceptional items (5 + 6) |
724.600 |
794.900 |
890.600 |
3384.100 |
|
8 |
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
9 |
Profit / (Loss) from
ordinary activities before tax (7 + 8) |
724.600 |
794.900 |
890.600 |
3384.100 |
|
10 |
Tax expense |
199.600 |
264.500 |
205.600 |
880.900 |
|
11 |
Net Profit / (Loss) from
ordinary activities after tax (9 + 10) |
525.000 |
530.400 |
685.000 |
2503.200 |
|
12 |
Extraordinary items (net
of tax expense Rs. Millions) |
0.000 |
0.000 |
0.000 |
0.000 |
|
13 |
Net Profit / (Loss) for
the period (11 +12) |
525.000 |
530.400 |
685.000 |
2503.200 |
|
|
Cash Profit |
826.600 |
815.800 |
930.800 |
3548.400 |
|
14 |
Paid-up equity share
capital (Face Value Rs.10/- per Share
fully paid-up) |
637.300 |
637.300 |
643.400 |
637.300 |
|
15 |
Reserves excluding
Revaluation Reserves as per balance sheet of previous accounting year |
- |
- |
- |
25160.100 |
|
16 |
Earnings Per Share (EPS) (being
same before and after extraordinary items) of Rs. 10/- each (not Annualized) |
|
|
|
|
|
|
(a) Basic |
8.24 |
8.28 |
10.65 |
39.07 |
|
|
(b) Diluted |
7.98 |
8.02 |
10.31 |
37.83 |
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
|
- Number of Shares |
31921340 |
31921340 |
32527466 |
31921340 |
|
|
- Percentage of
Shareholding |
50.09 |
50.09 |
50.56 |
50.09 |
|
2 |
Promoters and Promoter Group Shareholding |
|
|
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
Nil |
|
|
- Percentage of
Shares (as a % of total shareholding of promoter and promoter group) |
|
|
|
|
|
|
- Percentage of Shares
(as a % of total share Capital of the Company) |
|
|
|
|
|
|
b) Non-Encumbered |
|
|
|
|
|
|
- Number of Shares |
31810341 |
31810341 |
31810341 |
31810341 |
|
|
- Percentage of Shares
(as a % of total shareholding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of
Shares (as a % of total share Capital of the Company) |
49.91 |
49.91 |
49.44 |
49.97 |
INVESTOR COMPLAINTS
(Rs. In Millions)
|
PARTICULARS |
3 Months Ended 30.06.2013 |
|
Pending at the beginning of the quarter |
34 |
|
Received during the quarter |
31 |
|
disposed off during the quarter |
53 |
|
Remaining unresolved at the end of the
quarter |
12 |
UNAUDITED
SEGMENT-WISE REVENUE, RESULTS, CAPITAL EMPLOYED FOR THE QUARTER ENDED 30th
JUNE, 2013.
(Rs.
In Millions)
|
SI. No. |
Particulars |
Quarter
ended 30.06.2013 |
Quarter
ended 31.03.2013 |
Quarter
ended 31.12.2012 |
12
months ended 31.03.2013 |
|
1 |
"Segment Revenue
(Net Sales / Income from each segment should be disclosed under this
head)" (a) Power |
777.800 |
794.900 |
653.900 |
2606.700 |
|
|
(b) Steel |
4369.900 |
3906.700 |
4758.300 |
17996.500 |
|
|
(c) Unallocated |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Total |
5147.700 |
4701.600 |
5412.200 |
20603.200 |
|
|
Less: Inter Segment
Revenue |
346.100 |
323.500 |
147.400 |
807.000 |
|
|
Net Sales / Income From
Operations |
4801.600 |
4378.100 |
5264.800 |
19796.200 |
|
2 |
Segment Results (Profit)
(+) / Loss (-) before tax and interest from each segment) (a) Power |
95.400 |
100.800 |
97.300 |
321.800 |
|
|
(b) Steel |
787.800 |
742.400 |
1058.400 |
3768.000 |
|
|
(c) Unallocated |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Total |
883.200 |
843.400 |
1155.700 |
4089.800 |
|
|
Less: i) Financial
Charges |
394.800 |
301.200 |
304.800 |
1192.100 |
|
|
ii) Un-allocable
Expenditure net off |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
ii) Un-allocable income |
236.200 |
252.700 |
39.700 |
486.400 |
|
|
Total Profit Before Tax |
724.600 |
794.900 |
890.600 |
3384.100 |
|
3 |
"Capital Employed
(Segment assets - Segment Liabilities)" (a) Power |
6429.800 |
5781.900 |
5395.300 |
5781.900 |
|
|
(b) Steel |
21642.700 |
22997.900 |
6759.900 |
22997.900 |
|
|
(c) Unallocated |
0.000 |
0.000 |
12109.600 |
0.000 |
|
|
Total |
28072.500 |
28779.800 |
24264.800 |
28779.800 |
NOTE:
1. These Unaudited Financial Results were reviewed by the Audit Committee and approved at the meeting of the Board of Directors of the Company held on 14th August, 2013.
2. The company does not have any exceptional or extraordinary item to report for the above periods.
3. The figures for the quarter ended March 31,2013 are the balancing figures between audited figures in respect of the full financial year and the unaudited year to date figures upto the third quarter of that financial year.
4. The figures for the previous periods are re-classified / re-arranged / re-grouped, wherever necessary, to correspond with the current period's classification/disclosure.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10441745 |
09/07/2013 |
1,000,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN
BUILDING,GROUND FLOOR, KAMANI MARG,BALLARD |
B80056252 |
|
2 |
10433886 |
29/06/2013 |
1,000,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
DEVIKA TOWER, 6,
NEHRU PLACE, NEW DELHI, DELHI - |
B78304656 |
|
3 |
10444190 |
27/05/2013 |
4,500,000,000.00 |
ILFS TRUST
COMPANY LIMITED |
IL AND FS
FINANCIAL CENTRE,PLOT C 22, G BLOCK,BANDRA |
B76636083 |
|
4 |
10427758 |
24/05/2013 |
4,995,000,000.00 |
IL AND FS TRUST
COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B75791657 |
|
5 |
10413743 |
25/03/2013 |
1,400,000,000.00 |
STATE BANK OF
PATIALA |
2ND FLOOR, CHANDRALOK
BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B71428254 |
|
6 |
10412953 |
16/03/2013 |
1,500,000,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING, 1,RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA |
B71181028 |
|
7 |
10413534 |
27/02/2013 |
1,650,000,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING,1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA |
B71371306 |
|
8 |
10405818 |
31/12/2012 |
1,000,000,000.00 |
VIJAYA BANK |
31/C, DDA COMPLEX,
OPP - MOOLCHAND HOSPITAL, DEFENCE COLONY, NEW DELHI, DELHI - 110024, INDIA |
B68860626 |
|
9 |
10388229 |
28/11/2012 |
4,995,000,000.00 |
IL AND FS TRUST
COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B62679311 |
|
10 |
10388708 |
27/11/2012 |
500,000,000.00 |
IDBI BANK
LIMITED |
INDIAN RED CROSS
SOCIETY BUILDING,1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA |
B62854567 |
NOTE: * Date of charge modification
FIXED ASSETS:
Tangible assets:
Ø Land and Site Development
Ø Lease hold land
Ø Railway Siding
Ø Building
Ø Plant and Machinery
Ø Office Equipment
Ø Furniture and Fixtures
Ø Vehicle
Intangible assets:Ø 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] 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.61.50 |
|
|
1 |
Rs.99.49 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
62 |
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.