MIRA INFORM REPORT
|
Report Date : |
13.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
LINDE INDIA LIMITED (w.e.f. 18.02.2013) |
|
|
|
|
Formerly Known
As : |
BOC INDIA LIMITED |
|
|
|
|
Registered
Office : |
Oxygen
House, P-43, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
24.01.1935 |
|
|
|
|
Com. Reg. No.: |
21-008184 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 852.840 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40200WB1935PLC008184
|
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALB05091C /
CALB05706B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2528H |
|
|
|
|
Legal Form : |
Public
Limited Liability company. The Company’s shares are listed on the Stock
Exchanges. |
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|
|
|
Line of Business
: |
Manufacturing of air separation plants and related projects including
air/gas storage and distribution system. |
|
|
|
|
No. of Employees
: |
807 (Approximately) (In Office 300 + In Factory 10 + In Branches and
Site 497) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (75) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an subsidiary of “The BOC Group Limited”, The net profitability of the company has seen a drastic dip during
2012. However, financial position of the company appears to be sound.
Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. 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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
10.05.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
10.05.2013 |
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pankaj Sharma |
|
Designation : |
General Manager – Business Development |
|
Contact No.: |
91-9831070992 |
|
Date : |
12.09.2013 |
LOCATIONS
|
Registered Office / Corporate : |
Oxygen House, P-43, |
|
Tel. No.: |
91-33-24014708/ 4710-16/ 24015172/ 31411500 |
|
Mobile No.: |
91-9831070992 (Mr. Pankaj Sharma) |
|
Fax No.: |
91-33-24014974/ 4206/ 24018471/ 24014342/ 24011424 |
|
E-Mail : |
|
|
Website : |
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|
|
|
Factory : |
Rakhial Road, Ahmedabad - 380 023,
Gujarat, India
G T Road (West) Gopalpur, Asansol 713 304,
District Burdwan, West Bengal, India
Plot No. 1 and 2 (Part) , Survey Nos 59/1
and 60 Sompura Industrial Area Dobaspet, 1st Stage, Bangalore-562111,
Karnataka, India
Tonnage Plant (1800 TPD) Torunagallu,
Sandur Taluk District Bellary - 583 123, Karnataka, India
Plot No. B-821, RIICO Industrial Area
Bhiwadi 301 019, District Alwar, Rajasthan, India
Plot No. G-21, SIPCOT Industrial Park
Irungattukottai, District Kancheepuram 602 105, Tamilnadu, India
Village: Pakuria, P.O. Lakhenpur P.S.
Domjur, Howrah 711 114, West Bengal, India
Tonnage Plant (65 tpd) and Packaged Gases and Products Plant Plot No. 178 and 179 IDA
Pashamylaram, Phase III District Medak 502 307, Hyderabad, India
Tonnage Plant (2550 tpd) Tonnage Plant (1290 tpd) Industrial Gases Plants (500 tpd, 275 tpd
x 2) Long Tom Area, (Behind NML) Burma Mines,
Jamshedpur - 831 007, Jharkhand, India Tonnage Plant (225 tpd) Near “L” Town Gate
Opposite Bari Maidan Sakchi, Jamshedpur Mona Road, Burma Mines Jamshedpur -
831 007, Jharkhand, India
Tonnage Plant (418 tpd) Jindal Stainless
Limited. Kalinganagar Industrial Complex, Duburi,
District Jajpur-755026, Orissa, India
Plant Manufacturing Works P-41 Taratala
Road Kolkata 700 088, West Bengal, India 48/1 Diamond Harbour Road Kolkata 700 02,
West Bengal, India
Tonnage Plant T-8 MIDC Industrial Area
Taloja, Navi Mumbai 410 208 District Raigad, India
B 16/2, MIDC Industrial Area Chakan,
Village – Mahalunge, Tal – Khed,
District Pune 410 501 Selaqui Tonnage Plant (221 tpd) Khasara No. 122, MI
Behind Pharma City Selaqui, Dehradun 248 197, India
Plot no. 30, 31 and 32 Sidco Industrial Estate,
Mathur District Pudukkottai 622 515, India
Plot No. 62, J N Pharma City Thanam
Village, Parwada Mandal Visakhapatnam, 531 021, India |
DIRECTORS
As on 31.12.2012
|
Name : |
Mr. Sanjiv Lamba |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
48 years |
|
Qualification: |
B. Com. (Hons.), ACA |
|
Date of Appointment: |
15.11.1989 |
|
|
|
|
Name : |
Mr. Arun Balakrishnan |
|
Designation : |
Non Executive Director |
|
Date of Birth/Age : |
63 Years |
|
Qualification: |
BE (Chemical) |
|
Date of Appointment: |
01.04.2007 |
|
|
|
|
Name : |
Mr. Jyotin Mehta |
|
Designation : |
Non Executive Director |
|
Date of Birth/Age : |
55 Years |
|
Qualification: |
B.com , FCA, FCS and FICWA |
|
Experience : |
30 Years |
|
|
|
|
|
|
|
Name : |
Mr. Aditya Narayan |
|
Designation : |
Non Executive Director |
|
Date of Birth/Age : |
61 Years |
|
Qualification: |
B. Tech, LLB |
|
Date of Appointment: |
1996 |
|
|
|
|
Name : |
Mr. Binod Patwari |
|
Designation : |
Non Executive Director |
|
Date of Birth/Age : |
41 Years |
|
Qualification: |
B.com, CFA, MBA (Finance) |
|
Date of Appointment: |
1997 |
|
|
|
|
Name : |
Mr. Srikumar Menon |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
61 Years |
|
Qualification: |
B. Com. (Hons), ACA |
|
Date of Appointment: |
23.10.2008 |
|
|
|
|
Name : |
Mr. Moloy Banerjee |
|
Designation : |
Director |
|
Date of Birth/Age : |
11.08.1966 |
|
Qualification: |
B Tech |
|
Experience : |
25 Years |
KEY EXECUTIVES
|
Name : |
Mr. Pawan Marda |
|
Designation : |
Company
Secretary |
|
|
|
|
Audit Committee |
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|
|
|
|
Shareholders‘ /
Investors‘ Grievance
Committee : |
|
|
|
|
|
Remuneration Committee : |
|
MAJOR SHAREHOLDERS
As on 30.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
63963167 |
75.00 |
|
|
63963167 |
75.00 |
|
Total shareholding of Promoter and Promoter Group (A) |
63963167 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
5809295 |
6.81 |
|
|
14942 |
0.02 |
|
|
29 |
0.00 |
|
|
765692 |
0.90 |
|
|
5884982 |
6.90 |
|
|
12474940 |
14.63 |
|
|
|
|
|
|
1155210 |
1.35 |
|
|
|
|
|
|
5046538 |
5.92 |
|
|
2450576 |
2.87 |
|
|
193792 |
0.23 |
|
|
8754 |
0.01 |
|
|
47997 |
0.06 |
|
|
400 |
0.00 |
|
|
136641 |
0.16 |
|
|
8846116 |
10.37 |
|
Total Public shareholding (B) |
21321056 |
25.00 |
|
Total (A)+(B) |
85284223 |
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) |
85284223 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of air separation plants and related projects including
air/gas storage and distribution system. |
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Products : |
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Imports : |
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Products : |
Capital Equipment used in Air Separation Plants |
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Countries : |
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GENERAL INFORMATION
|
Customer : |
End Users |
|
|
|
|
No. of Employees : |
807 (Approximately) (In Office 300 + In
Factory 10 + In Branches and Site 497) |
|
|
|
|
Bankers : |
·
ABN AMRO Bank N.V. ·
Citibank N.A. ·
ICICI Bank Limited. ·
Punjab National Bank ·
Standard Chartered Bank ·
State Bank of ·
United Bank of |
|
|
|
|
Facilities: |
From Citi Bank N.A. Euro 40.000 Millions – Multi Purpose
Facility Rs. 800.000 Millions – Bank Guarantee Rs. 25.000 Millions – Fund Based Facility Rs. 10.000 Millions – Non Fund Based
Facility Rs. 2000.000 Millions – Term Loan |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered
Accountants |
|
Address 1 : |
Building No. 10, 8th Floor,
Tower-B DLF Cyber City, Phase-II Gurgaon - 122002, Haryana, India |
|
Tel No.: |
91-124-2549191 |
|
Fax No.: |
91-124-2549101 |
|
|
|
|
Address 2 : |
Infinity Benchmark, Plot No. G-1, 10th Floor, Blook
EP and GP, Sector V, Salt Lake City, Kolkata – 700091, West Bengal, India |
|
Tel No.: |
91-33-44034000 |
|
Fax No.: |
91-33-44034199 |
|
Email ID: |
|
|
|
|
|
|
|
|
Ultimate Holding Company : |
Linde AG, |
|
|
|
|
Holding Company : |
The BOC Group Limited, |
|
|
|
|
Joint Venture |
Bellary Oxygen Company Private Limited |
|
|
|
|
Fellow Subsidiaries : |
·
Linde Bangladesh Limited, ·
BOC ( ·
Linde Electronics and Speciality Gases ( ·
Company Limited, ·
·
Cryostar SAS ·
Linde HKO Limited ·
The BOC Group Limited, (Hong Kong) ·
Linde Gáz Magyarország Zrt. ·
PT. Linde ·
Linde Japan Limited, ·
Linde Korea Company Limited, ·
Linde ·
Linde ·
Linde Philippines Inc. ·
Linde Gas Singapore Pte Limited, ·
Linde Gas Asia Pte Limited ·
African Oxygen Limited (Afrox) ·
Ceylon Oxygen Limited ·
Cryo Aktiebolag ·
AGA Aktiebolag ·
BOC Lienhwa Industrial Gases Company Limited, ·
Linde ( ·
Linde CryoPlants Limited ·
BOC Limited ·
Linde North America, Inc. ·
Linde Gas North America LLC ·
Linde Process Plants, Inc. ·
Linde RSS LLC ·
Linde LLC ·
Selas Fluid Processing Corporation ·
Linde Global Support Services Private Limited,
·
Linde Engineering India Private Limited, |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
86000000 |
Equity Shares |
Rs.10/- each |
Rs.860.000 Millions |
|
|
|
|
|
Issued Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85286209 |
Equity Shares |
Rs.10/- each |
Rs.852.862 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85284223 |
Equity Shares |
Rs.10/- each |
Rs. 852.840 Millions |
Reconciliation of shares outstanding at the beginning and at the end of
the reporting period
(Rs in Millions)
|
Particular |
No. of Shares |
Rs in Millions |
|
|
|
|
|
At the commencement and at the end of the period |
85286209 |
852.860 |
Rights, preferences and restrictions attached
to equity shares The Company has a single class of equity shares. Accordingly, all
equity shares rank equally with regard to dividends and share in the Company’s
residual assets. The equity shares are entitled to receive dividend as declared
from time to time. The voting rights of an equity shareholder on a poll (not on
show of hands) are in proportion to its share of the paid-up equity capital of
the Company. Voting rights cannot be exercised in respect of shares on which
any call or other sums presently payable have not been paid.
On winding up of the company, the holders of
equity shares will be entitled to receive the residual assets of the company,
remaining after distribution of all preferential amounts in proportion to the
number of equity shares held.
Shares held by holding / ultimate holding company and / or their
subsidiaries / association
(Rs in Millions)
|
Particular |
No. of Shares |
Rs in Millions |
|
Equity shares of Rs. 10 each fully paid up held by |
|
|
|
The BOC Group Limited, |
76308293 |
763.080 |
Particulars of shareholders holding more than 5 % shares of a class of
shares
|
Particular |
No. of Shares |
% of Holding |
|
Equity shares of Rs. 10 each fully paid up held by |
|
|
|
The BOC Group Limited, |
76308293 |
89.48 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
852.840 |
852.840 |
|
(b) Reserves & Surplus |
|
12486.280 |
11767.010 |
|
(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) |
|
13339.120 |
12619.850 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
8504.170 |
7940.680 |
|
(b) Deferred tax liabilities (Net) |
|
1439.520 |
1135.670 |
|
(c) Other long term
liabilities |
|
228.130 |
197.660 |
|
(d) long-term
provisions |
|
2409.650 |
1382.630 |
|
Total Non-current
Liabilities (3) |
|
12581.470 |
10656.640 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1600.000 |
0.000 |
|
(b)
Trade payables |
|
2577.770 |
2507.030 |
|
(c)
Other current liabilities |
|
3059.470 |
2819.220 |
|
(d)
Short-term provisions |
|
982.860 |
1201.910 |
|
Total Current
Liabilities (4) |
|
8220.100 |
6528.160 |
|
|
|
|
|
|
TOTAL |
|
34140.690 |
29804.650 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
16782.710 |
9861.520 |
|
(ii)
Intangible Assets |
|
58.420 |
66.320 |
|
(iii)
Capital work-in-progress |
|
5761.750 |
4990.500 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
150.000 |
150.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
3219.300 |
7705.330 |
|
(e)
Other Non-current assets |
|
1409.990 |
876.350 |
|
Total Non-Current
Assets |
|
27382.170 |
23650.020 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
714.900 |
739.530 |
|
(c)
Trade receivables |
|
3095.640 |
3240.290 |
|
(d)
Cash and cash equivalents |
|
462.950 |
231.180 |
|
(e)
Short-term loans and advances |
|
2098.470 |
1706.630 |
|
(f)
Other current assets |
|
386.560 |
237.000 |
|
Total
Current Assets |
|
6758.520 |
6154.630 |
|
|
|
|
|
|
TOTAL |
|
34140.690 |
29804.650 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
852.840 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
10297.750 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
11150.590 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
4691.600 |
|
|
TOTAL BORROWING |
|
|
4691.600 |
|
|
DEFERRED TAX LIABILITIES |
|
|
797.750 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16639.940 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8425.740 |
|
|
Capital work-in-progress |
|
|
7872.210 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
150.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
653.950 |
|
|
Sundry Debtors |
|
|
2014.800 |
|
|
Cash & Bank Balances |
|
|
572.310 |
|
|
Other Current Assets |
|
|
1399.950 |
|
|
Loans & Advances |
|
|
2115.510 |
|
Total
Current Assets |
|
|
6756.520 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2968.880 |
|
|
Other Current Liabilities |
|
|
1476.600 |
|
|
Provisions |
|
|
2119.050 |
|
Total
Current Liabilities |
|
|
6564.530 |
|
|
Net Current Assets |
|
|
191.990 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16639.940 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13244.400 |
11530.780 |
9857.470 |
|
|
|
Other Income |
34.260 |
132.270 |
166.880 |
|
|
|
TOTAL |
13278.660 |
11663.050 |
10024.350 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2339.770 |
1190.540 |
0.000 |
|
|
|
Purchase of Stock in Trade |
663.920 |
746.470 |
0.000 |
|
|
|
Changes in Inventories of Finished Goods |
31.250 |
(10.010) |
2149.250 |
|
|
|
Employees Benefits Expenses |
822.860 |
621.730 |
0.000 |
|
|
|
Other expenses |
7355.100 |
6652.270 |
6042.450 |
|
|
|
TOTAL |
11212.900 |
9201.000 |
8087.840 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2065.760 |
2462.050 |
1936.510 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
404.170 |
5.340 |
51.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1661.590 |
2456.710 |
1884.580 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1125.210 |
708.210 |
588.880 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
718.620 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1255.000 |
1748.500 |
1295.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
360.200 |
531.930 |
359.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
894.800 |
1216.570 |
936.320 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3863.400 |
2856.340 |
2116.020 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
127.930 |
127.930 |
127.930 |
|
|
|
Dividend Tax |
20.750 |
20.750 |
21.250 |
|
|
|
Transfer to general Reserve |
44.740 |
60.830 |
46.820 |
|
|
BALANCE CARRIED
TO THE B/S |
4564.780 |
3863.400 |
2856.340 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings (FOB Basis) |
1425.770 |
104.500 |
146.290 |
|
|
|
Recovery of Expenses |
44.610 |
38.790 |
6.550 |
|
|
TOTAL EARNINGS |
1470.380 |
143.290 |
152.840 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components Stores & Spares |
853.040 |
295.370 |
499.160 |
|
|
|
Capital Goods |
5741.770 |
1103.010 |
749.120 |
|
|
TOTAL IMPORTS |
6594.810 |
1398.380 |
1248.280 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.49 |
14.26 |
10.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
8.47
|
10.43 |
9.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.47
|
15.16 |
13.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.02
|
12.54 |
19.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.14 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.76
|
1.00 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.94 |
1.03 |
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 |
No |
|
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) |
Yes |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.12.2012 Rs. In Millions |
31.12.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Foreign currency loan from Linde AG, ultimate holding company |
7504.170 |
7940.680 |
|
Term loan from banks |
1000.000 |
0.000 |
|
Short term
borrowings |
|
|
|
Short-term loan from bank |
1600.000 |
0.000 |
|
Total |
10104.170 |
7940.680 |
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80023584
|
30/12/2006
* |
661,800,000.00
|
UNITED
BANK OF INDIA |
OLD
COURT HOUSE STREET BRANCH, 11,HEMANTA BASU SARANI, KOLKATA, West Bengal -
700001, INDIA |
- |
* Date of modification of charge
FINANCIAL
PERFORMANCE:
The company recorded a rather subdued performance during the year 2012
against the backdrop of weak economic conditions and sluggish performance
across most industrial sectors. During the year under review, The Company had
to contend with significant headwinds, which among others included lower demand
from major customers, delay in major projects related to customer delays,
inflationary trends in power and other costs, etc. Revenue from Operations for
the year 2012 at Rs. 14,113.45 million showed an increase of about 16 % over
the previous year. Turnover from the gases business grew by nearly 15 % mainly
driven by commissioning of new air separation units, viz. a 2550 tonnes per day
Air Separation Unit for Tata Steel Works at Jamshedpur and a merchant Air Separation
Unit having a total liquid capacity of 450 tonnes per day at Taloja. The
commissioning of a new steam methane refined hydrogen plant for Sterlite
Tech-nologies at
The profit before depreciation, interest and taxes for the year 2012
stood at Rs. 2065.760 million as compared to Rs. 2462.050 million in the
previous year. The profit from operationsduring the year before exceptional
items however, was significantly lower at Rs. 536.38 million as comparedto Rs.
1748.500 million recorded in the previous year.
This sharp decrease in the profits is the result of significantly higher
finance costs on long term borrowings and higher depreciation following the
capitalization of new plants. The depreciation includes impairment provision of
Rs. 84.520 million relating to assets at an electronic gases customer’s site,
arising from the discontinuance of their operations. During the year, The
Company disposed of surplus factory land at Vizag and Ban-galore and a profit
of Rs. 718.620 million arising from the same has been accounted for as an
exceptional item. The profit before tax for the year amounted to Rs. 1255.000
million as compared to Rs. 1,748.50 million in the previous year and the net
profit after tax for the year 2012 amounted to Rs. 894.800 million as compared
to Rs. 1216.570 million achieved in the previous year.
BUSINESS SEGMENTS:
The Company’s business has two broad segments, viz. Gases and Related
Products and Project Engineering in line with the operating model of its
parent, Linde AG.
INDUSTRY DEVELOPMENTS:
The gases business is capital intensive by nature as it requires large
investments in setting up of air separation units as well new packaged gases
sites. The supply chain in the gases business also requires significant
investments in the form of distribution assets and storage networks to service
bulk volumes as well as in the form of cylinders to service rela-tively smaller
volumes in packaged gases business. The industry comprises of large captive
users in steel, fertilizer and refinery sectors and a large number of merchant
liquid customers primarily in metal, glass, automobile, petrochemicals and
pharmaceutical sectors, besides customers for medical gases. New applications
in segments like oil and gas, food freezing, refrigeration, fire suppression,
cement, paper, etc. continue to provide growth opportunities. This growth is
being further supported by ‘Build Own Operate’ (BOO) type of supply scheme
opportunities from the users mainly in steel and refinery sectors, which are
increasingly outsourcing their gases requirements.
FINANCE:
The Company had two fully drawn down loan facilities by way of External
Commercial Borrowing (ECB) totalling EUR 122 million from Linde AG for funding
of 2550 tonnes per day ASU for Tata Steel and 2x853 tonnes per day ASUs for Steel Authority’s Rourkela
Steel Plant projects. As on 31 December 2012, the aggregate outstanding against
the aforesaid ECBs was EUR 115.6 million (Rs. 8389.570 million).The said ECBs
are fully hedged both with regard to the principal and interest payments.
During the year, the Company negotiated a two year term loan facility of
Rs. 1,000 million from Citibank for financing of ongoing relatively smaller
capital expenditure requirements. As on 31 December 2012, this facility is
fully drawn down. Further, during the year, for financing the Tata Steel
Kalinganagar project and Asian Peroxide’s project, the Company has finalized
funding arrange-ment of EUR 77.6 million (Rs. 5553.830 million) by way of a new
ECB facility from the parent Company, Linde AG. Capital expenditure of Rs.
3820.620 million during the year was mainly towards setting up of 2550 tonnes
per day ASU for Tata Steel at Jamshed-pur, 450 tonnes per day merchant ASU at
Taloja and towards procurement of distribution resources
OUTLOOK:
The global economy has witnessed weaker growth in 2012 as a result of,
among others, high sovereign debt worldwide, volatile financial markets,
currency fluctuations and political unrest in some parts of the world. Indian
economy has not been any exception and has witnessed sluggishness throughout
2012. The economy is facing historically high current accountdeficit, high
fiscal deficit, inflationary trends and deepening growth concerns with GDP
growth rate for 2012 – 2013 estimated to fall below 5.5 %. The Company thus has
had a difficult and challenging 2012, which reflected the gloomy conditions in
the economy.
The global economy led by a fall in unemployment data and housing
recovery in the
The Company has already committed significant investments in the gases
business for setting up large capacities for catering to the customers in steel
sector and merchant markets. Although, the outlook for the steel sector remains
somewhat uncertain in the short term, the medium to long term outlook appears
positive and the demand is likely to pick up in the next financial year on the
back of expected revival in economic growth and the need to increase
investments in the infrastructure sector. The Company’s strategy to increase
penetration in hospitals in tier 2 cities with focus on private hospital chains
and of leveraging the Group’s industry specific expertise in gas applications
is likely to have a positive impact on the gases business in the medium to long
term. The Company has also been making steady progress in its HPO (high
performance organistion) journey and will continuously endeavour to leverage
the strengths of its parent, in growing its businesses across the gases and
engineering segments. The overall outlook for 2013 is therefore cautiously
optimistic.
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX
MONTHS ENDED 30TH JUNE
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Year to date (Unaudited) |
|
|
|
30.06.2013 |
31.03.2013 |
30.06.2013 |
|
Gross income" |
3563.520 |
3601.670 |
7165.190 |
|
Gross Sales |
3496.120 |
3448.770 |
16944.690 |
|
Excise duties |
248.030 |
245.660 |
493.690 |
|
|
|
|
|
|
Income from operations |
|
|
|
|
Net
sales (Net of excise duty) |
3248.090 |
3203.110 |
6451.200 |
|
Other
operating Income |
62.210 |
107.100 |
170.310 |
|
Total Income From
Operations (Net) |
3310.300 |
3310.210 |
6621.510 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
275.520 |
428.540 |
704.060 |
|
b) Purchases of stock in trade |
98.750 |
83.840 |
182.690 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
11.160 |
9.530 |
20.690 |
|
d) Employees benefit expenses |
218.280 |
201.480 |
419.760 |
|
e) Depreciation and amortization expenses |
232.930 |
317.910 |
641.840 |
|
e) Power and Fuel |
1201.700 |
1187.730 |
2389.430 |
|
f) Transport and Forwarding Expenses |
229.170 |
149.450 |
378.620 |
|
g) stores Spare Parts and Packaging Material |
265.500 |
259.650 |
525.150 |
|
f) Other expenditure |
428.250 |
365.311 |
793.560 |
|
Total expenses |
3052.260 |
3003.441 |
6055.800 |
|
3. Profit from operations before other income and
financial costs |
259.040 |
306.670 |
565.710 |
|
4. Other income |
4.190 |
45.800 |
49.990 |
|
5. Profit from ordinary activities before finance costs |
263.230 |
352.470 |
615.700 |
|
6. Finance costs (net) |
169.770 |
157.420 |
327.190 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
93.460 |
195.050 |
288.510 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
93.460 |
195.050 |
288.510 |
|
10.Tax expenses |
|
|
|
|
--Current tax |
24.190 |
41.880 |
66.070 |
|
--MAT Credit entitlement |
(24.190) |
(41.880) |
(66.070) |
|
--Deferred tax |
34.060 |
136.480 |
170.540 |
|
--Reversal/ Charge of
earlier year |
0.000 |
0.000 |
0.000 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
59.400 |
58.570 |
117.970 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
59.400 |
58.570 |
117.970 |
|
14.Paid-up
equity share capital (Nominal value Rs. 10 per share) |
852.860 |
852.860 |
852.860 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.Earnings per share (before extraordinary items)
of Rs. 10/- each) (not annualised): |
|
|
|
|
(a) Basic and diluted |
0.70 |
0.69 |
1.38 |
|
ii) Earnings per share (after extraordinary items) |
|
|
|
|
(a) Basic and diluted |
0.70 |
0.69 |
1.38 |
“includes gross sales, other operating income and other income
Note:
- This statement was approved by the Board
of Directors at their meeting held on 29 July 2013.
- Figures for the previous period/year
have been regrouped/rearranged where necessary.
- The quarterly results have been subjected to a "limited Review" by the Auditors of the Company
SELECT
INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED 30 JUNE 2013
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Year to date (Unaudited) |
|
|
|
30.06.2013 |
31.03.2013 |
30.06.2013 |
|
PART-II |
|
|
|
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
21321056 |
8975930 |
21321056 |
|
- Percentage of shareholding |
25.00 |
10.52 |
25.00 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
- |
- |
- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
- |
- |
- |
|
Percentage of shares (as a % of total share capital of the
company) |
- |
- |
- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
63963167 |
76308293 |
63963167 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100 |
100 |
100 |
|
|
|
|
|
|
Percentage of shares (as a % of total share capital of the
company) |
75.00 |
89.48 |
75.00 |
|
|
|
|
|
|
B.
Investor Complaints |
Quarter
Ended 30 June 2013 |
||
|
Pending at the beginning of the quarter |
0 |
||
|
Receiving during the quarter |
10 |
||
|
Disposed of during the quarter |
10 |
||
|
Remaining unreserved at the end of the quarter |
0 |
||
SEGMENT WIE REVENUE, RESULTS AND CAPITAL
EMPLOYED UNDER CLAUSE 41 OF THE LISTING AGREEMENT
(Rs. In Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
Year
to date ( Unaudited) |
|
|
|
30.06.2013 |
31.03.2013 |
30.06.2013 |
|
1. Segment revenue |
|
|
|
|
a. Gases and related products |
2628.780 |
2557.850 |
5186.630 |
|
b. Project engineering |
889.740 |
877.430 |
1767.170 |
|
Total |
3518.520 |
3435.280 |
6953.800 |
|
Less: Intersegment revenue |
208.550 |
126.810 |
335.360 |
|
Add : Other unallocable income |
5.520 |
47.540 |
53.060 |
|
Total income |
3315.490 |
3356.010 |
6671.500 |
|
2. Segment results |
|
|
|
|
a. Gases and related products |
232.990 |
284.970 |
517.960 |
|
b. Project engineering |
141.010 |
132.970 |
273.980 |
|
Total segment profit before interest, tax and exceptional item |
374.000 |
417.940 |
791.940 |
|
Less: i) Interest Expense |
169.770 |
157.420 |
327.190 |
|
ii) Exceptional items iii) Other unallocable expenditure (net of unallocable income) |
110.770 |
65.470 |
176.240 |
|
Total Profit before tax |
93.460 |
195.050 |
288.510 |
|
3. Capital employed (Segment assets - Segment liabilities ) |
|
|
|
|
a. Gases and related products |
27185.140 |
27310.490 |
27185.140 |
|
b. Project engineering |
(222.690) |
(652.030) |
(222.690) |
|
c. Unallocated |
(13482.210) |
(13157.500) |
(13482.210) |
|
Total |
13480.240 |
13500.960 |
13480.240 |
Note:
The primary segment for the Company is the Business
Segment and it has two such segments as follows:
a.
Gases and Related Products: Comprises manufacture and
sale of industrial, medical and special gases as well as related products.
b.
Project Engineering: Comprises manufacture and sale of
cryogenic and non-cryogenic vessels as well as designing, supplying, testing,
ejecting and commissioning of projects.
c.
C. Figures for the previous period/year have been
regrouped/rearranged, where necessary.
STATEMENT OF ASSETS AND LIABILITIES
(Rs. In Millions)
|
Particulars |
As at 30.06.2013 (Unaudited) |
|
EQUITY AND LIABILITIES |
|
|
|
|
|
Shareholders' funds |
|
|
(a) Share capital |
852.840 |
|
(b) Reserves and surplus |
12627.400 |
|
Shareholders' funds |
13480.240 |
|
Non-current liabilities |
|
|
(a) Long-term borrowings |
11525.320 |
|
(b) Deferred tax
liabilities (net) |
1621.280 |
|
(c) Other long term
liabilities |
250.230 |
|
(d) Long term provisions |
2483.030 |
|
Non-current liabilities |
15879.860 |
|
Current liabilities |
|
|
(a) Short-term borrowings |
1500.000 |
|
(b) Trade payables |
2324.790 |
|
(c) Other current
liabilities |
3323.890 |
|
(d) Short-term provisions |
600.320 |
|
Current liabilities |
7749.000 |
|
|
|
|
TOTAL EQUITIES AND
LIABILITIES |
37109.100 |
|
|
|
|
Non-current assets |
|
|
(a) Fixed assets |
23323.270 |
|
(b) Non-currrent
investments |
150.070 |
|
(c) Long-term loans and
advances |
5128.360 |
|
(d) Other non-current
assets |
1971.760 |
|
Non-current assets |
30573.460 |
|
Current assets |
|
|
(a) Inventories |
752.020 |
|
(b) Trade receivables |
3129.860 |
|
(c) Cash and cash
equivalents |
291.810 |
|
(d) Short-term loans and
advances |
2023.700 |
|
(e) Other current assets |
338.250 |
|
Current assets |
6535.640 |
|
|
|
|
TOTAL ASSETS |
37109.100 |
Note :
The
primary segment for the Company is the Business Segment and il has iwo such
segments as follows:
a.
Gases
and Related Products i Comprises manufacture and sale of industrial, medical
and special gases as well as related
products.
b.
Project
Engineering: comprises manufacture and sale ol cryogenic and non-cryogenic vessels
as well as designing, supplying testing, erecting and commissioning of projects
C. Figures for the previous period/year have been regrouped/rearranged, where necessary
Fixed assets
·
Land - Freehold
·
Leasehold
·
Buildings
·
Plant and Machinery
·
Motor Vehicles
·
Office Equipment and Furniture
NEWS:
LINDE
INDIA REPORTS Q2 GROSS TURNOVER OF RS 3.5 BILLION, APPOINTS NEW MANAGING
DIRECTOR
New Delhi, India – 29 July 2013:
Linde India
Limited, a member of The Linde Group, announced its unaudited financial results
for the quarter ended 30 June 2013, which were approved by the Company’s Board
of Directors at its meeting held earlier today.
For Q2 2013 the
Company reported a gross turnover of Rs 3,496 million, a decrease of 4 percent as
against Rs 3,627 million recorded in the same quarter last year. The gases
business recorded a growth of 20 percent, however the turnover of the
engineering business net of inter-segment revenue was lower by 49 percent
compared to same quarter last year. In the quarter, the company’s overall
EBITDA grew by 6 percent to Rs 587 million, while EBITDA for the gases business
rose by 20 percent.
Profit before
interest and exceptional items fell by 22 percent from Rs 336 million in Q2
2012 to Rs 263 million in the current quarter. The reduction was mainly due to
the increase in depreciation for newly capitalised assets. Net profit for the
quarter stood at Rs 59 million as against Rs 203 million in Q2 2013, due to
higher depreciation and additional finance cost for newly capitalised assets
and working capital.
Linde India also
announced that as part of its planned leadership succession, Mr Moloy Banerjee
has been appointed as the Managing Director of the company and a member of its
Board of Directors effective 30 July 2013. Mr Banerjee succeeds Mr Srikumar
Menon, who stepped down as Managing Director and from the Board of Directors at
the close of business on 29 July 2013. Mr Menon will continue as The Linde
Group's Managing Director for South Asia, responsible for its businesses in
India, Bangladesh and Sri Lanka.
Chairman of the
Board of Directors of Linde India, Mr Sanjiv Lamba, said, “The Board is
delighted to have selected Moloy Banerjee to the post, recognising Moloy’s
extensive knowledge and experience in the business built over a very successful
28-year career in India and abroad. Mr Menon has over the last few years
successfully put Linde India on its growth path, and we are confident that
Moloy will be able to build on Linde India’s strengths and further advance the
company's strategy and leadership position in the country.”
Mr Banerjee said,
“I am honoured to be appointed to succeed Mr Menon as Managing Director of
Linde India, and am excited about the many current opportunities and future
prospects of our business. I look forward to working with the management and
staff of the company to deliver on these opportunities even as we continue in
our mission of safely providing leading, innovative and quality solutions for
the gases and engineering industry in India.”
PRESS RELEASE
SAPPHIRE ENERGY AND LINDE GROUP EXPAND PARTNERSHIP
Companies partner to commercialize
hydrothermal treatment technology used to upgrade algae into crude oil
Munich/San Diego, 16
July 2013 - Sapphire Energy Inc., one of the world leaders in
algae-based Green Crude oil production, and the technology company The Linde
Group have announced they will expand their partnership to commercialize a new
industrial scale conversion technology needed to upgrade algae biomass into
crude oil. Together, the companies will refine the hydrothermal treatment
process developed and operated today by Sapphire Energy at pilot-scale. In
addition, they will jointly license and market the technology into an expanded list
of industries, including algae, municipal solid waste, and farm waste, in order
to upgrade other biomass sources into energy. The agreement spans a minimum of
five years through the development of Sapphire Energy's first commercial scale,
algae-to-energy production facility.
"Sapphire Energy is very pleased to build upon its already successful
strategic partnership with Linde to build a commercial oil upgrading process
designed to increase yield and lower the cost of crude oil production,"
said Cynthia Warner, CEO and chairman of Sapphire Energy. "Large energy
projects like They are building require very significant partnerships to fund
the development of new technologies and make available engineering resources
needed to bring these projects on line at commercial scale. They think Linde is
a perfect partner to help Sapphire achieve this goal."
"They have been working with Sapphire Energy for two years to develop
a cost-efficient CO2 delivery system for commercial algae production. They have
become confident with the company's expertise and its capability to produce a
low carbon and economic energy source from algae. After the positive experience
gained, They decided to intensify Their cooperation with Sapphire," said
Professor Aldo Belloni, member of the executive board of Linde AG. "Based
upon Their profound engineering expertise, They will contribute to further
develop and scale up Sapphire's algae-to-crude-oil technology."
This growing partnership builds upon Linde's and Sapphire Energy's
agreement to develop a low cost, CO2 management system for open pond,
algae-to-fuel production, which was previously announced in May 2011. Linde,
the leading merchant CO2 supplier in the
LINDE INDIA SLIPS ON PARENT
STAKE SALE PLAN
The BOC Group
proposes to sell a portion of its equity shares in the company through one or
more offers for sale.
Mumbai April 12,
2013
Linde India (formerly BOC Limited) is locked in lower circuit of 5% at Rs 270
on NSE after UK –based parent company, The BOC Group, announced its plan to reduce
stake in the company from the current 89.48% to comply with the Securities and
Exchange Board of India (SEBI) norms on minimum public share holding
requirements.
“The BOC Group proposes to sell a portion of its equity shares in the company
through one or more offers for sale (OFS) through stock exchanges to comply
with the minimum public shareholding as per SEBI guidelines,” Linde
According to the market regulator Sebi guidelines, the public shareholding in a
company should be a minimum of 25% by June 3, 2013.
BOC
The stock opened at Rs 270 and has seen a combined 2,800 shares changing hands
on the counter till 1125 hours. There are pending sell orders for 55,188 shares
on NSE and BSE.
BOC
February 26, 2013
BOC India Limited, a
member of The Linde Group, has annonced that it will rebrand itslef as Linde India Limited effective from 18 February 2013. Linde AG
acquired The BOC Group in September 2006, forming The Linde Group. The brand
change from BOC to Linde is part of a global programme to position the
companies within The Linde Group under a single Linde brand, the company said
in a statement.
The company is one of the leading leading gases and engineering company, with
one of the most comprehensive industrial, specialty and medical gases product
portfolio and largest direct sales network across the nation.
Their company's history as They become Linde in
Last July, the company inaugurated its 2,550 tons per day (tpd) air separation
plant at
Linde India is also in the midst of constructing two large air separation
plants, each with a capacity of 1,200 tpd at the Kalinganagar industrial
complex in Odisha.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.67 |
|
|
1 |
Rs. 100.71 |
|
Euro |
1 |
Rs. 84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--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 |
|
75 |
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.