MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL SAW LIMITED (w.e.f. 07.02.2005) |
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|
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Formerly Known
As : |
SAW PIPES LIMITED |
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Registered
Office : |
A-1,
UPSIDC Industrial Area, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.10.1984 |
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Com. Reg. No.: |
20-023979 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 552.500 Millions |
|
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|
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CIN No.: [Company Identification
No.] |
L27104UP1984PLC023979 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
AGRS10410B |
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Legal Form : |
A Public
Limited Liability Company. The company’s shares are Listed on the Stock
Exchanges. |
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Line of Business
: |
Manufacturer and Supplier of Pipe
Products for the Energy, Water Industry and other Industrial Applications. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 155300000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a flagship company of the Jindal Group. It is having good track record. Financial performance of the company
seems strong. Fundamental are healthy. Liquidity position is good. Trade relations are reported as fair. Business is active. Payment are
reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank Goldman
Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits: “A1” |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
05.05.2014 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-11-26188360)
LOCATIONS
|
Registered Office/ Factory 1 : |
A-1 UPSIDC Industrial Area, |
|
Tel. No.: |
91-5662-252277/ 252224/ 232426/ 232001/ 02/ 03 |
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Fax No.: |
91-5662-232577 |
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E-Mail : |
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Website : |
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Corporate Office : |
‘Jindal Centre’, 12, |
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Tel. No.: |
91-11-26188360–74/ 26188345 |
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Fax No.: |
91-11-26170691/ 41659575 |
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E-Mail : |
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Factories : |
MUNDRA - IPU Village: Samaghogha, Pragpar - Phone : 91-2838-240755-756, 240773 Fax : 91-2838-240700 MUNDRA - JCO S.No. 94/1, 94/2 and 96, Village: Nanakapaya Taluka: Mundra, District
Kutch – 370415, Phone: 91-2838-287305-06 Fax : 91-2838-22700 NASHIK A-59-60 Fax : 91-2551-230967 |
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Regional Offices : |
MUMBAI Phone : 91-22-23513000 Fax : 91-22-23521889 AHMEDABAD 601, Phone : 91-79-26431323 Fax : 91-79-26431433 H. No. 8-2-618/2/2/A, Plot No. 25, Road No. 10 , Classic Emerald Lane,
Near Rainbow Hospital, Banjara Hills, Hyderabad, Andhra Pradesh, India Phone : 91-40-55778694 / 95 6th Floor, East Wing, Phone : 91-80-25559869/ 73 Fax : 91-80-25598898 CHENNAI 4-B, Phone : 91-44-4213 2033/ 42043737 Fax : 91-44-4204 3737 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mrs. Savitri Devi Jindal |
|
Designation : |
Chairperson |
|
Date of Birth/Age : |
20.03.1950 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
28.04.2005 |
|
|
|
|
Name : |
Mr. Prithvi R. Jindal |
|
Designation : |
Vice Chairman (Non Executive) |
|
|
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|
Name : |
Mr. Indresh Batra |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
27.12.1971 |
|
Qualification : |
MBA |
|
Date of Appointment : |
28.04.2007 |
|
Experience : |
17 Years |
|
|
|
|
Name : |
Ms. Sminu Jindal |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
40 Years |
|
Qualification : |
B.Com
(Hons.) MBA (Finance) |
|
Experience : |
20 Years |
|
|
|
|
Name : |
Mr. Devi Dayal |
|
Designation : |
Director |
|
Date of Birth/Age : |
02.07.1941 |
|
Qualification : |
LL. B., M. A. |
|
Date of Appointment : |
30.07.2004 |
|
Other Directorship : |
· Hotels Sun Air Limited Omexe
Limited Sahara
Prime City Limited |
|
|
|
|
Name : |
Dr. S.K. Gupta |
|
Designation : |
Director |
|
Date of Birth/Age : |
18.08.1938 |
|
Qualification : |
Technocrat |
|
Date of Appointment : |
22.11.2005 |
|
|
|
|
Name : |
Mr. Kuldip Bhargava |
|
Designation : |
Director |
|
Date of Birth/Age : |
22.04.1953 |
|
Qualification : |
Industrialist |
|
Date of Appointment : |
22.11.2001 |
|
Other Directorship : |
Hexa Tradex Limited |
|
|
|
|
Name : |
Mr. Raj Kamal Agarwal |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.07.1952 |
|
Qualification : |
M.B.B.S. |
|
Date of Appointment : |
30.01.2006 |
|
Other Directorship : |
· Hexa Tradex Limited Virtue
Drilling PTE Limited |
|
|
|
|
Name : |
Mr. Ravinder Nath Leekha |
|
Designation : |
Director |
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|
|
|
Name : |
M. Girish Sharma |
|
Designation : |
Director |
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Date of Birth/Age : |
19.12.1951 |
|
Qualification : |
IRS (Retd.) |
|
Date of Appointment : |
30.05.2012 |
|
|
|
|
Name : |
Mr. H.S. Chaudhary |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
05.09.1954 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
07.10.1988 |
|
|
|
|
Name : |
Mr. Neeraj Kumar |
|
Designation : |
Group Chief Executive Officer and Executive Director |
|
Date of Birth/Age : |
02.05.1963 |
|
Qualification : |
M. Sc. (Physics) and MBA |
|
Date of Appointment : |
01.07.2013 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil K Jain |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
1635300 |
0.59 |
|
|
94573120 |
34.24 |
|
|
96208420 |
34.83 |
|
|
|
|
|
|
98700 |
0.04 |
|
|
31514985 |
11.41 |
|
|
31613685 |
11.44 |
|
Total shareholding of Promoter
and Promoter Group (A) |
127822105 |
46.27 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
25957519 |
9.40 |
|
|
175550 |
0.06 |
|
|
7153500 |
2.59 |
|
|
51559268 |
18.67 |
|
|
84845837 |
30.72 |
|
|
|
|
|
|
41340663 |
14.97 |
|
|
|
|
|
|
17830232 |
6.46 |
|
|
2224945 |
0.81 |
|
|
2159739 |
0.78 |
|
|
807945 |
0.29 |
|
|
1155094 |
0.42 |
|
|
196700 |
0.07 |
|
|
63555579 |
23.01 |
|
Total Public shareholding (B) |
148401416 |
53.73 |
|
Total (A)+(B) |
276223521 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
276223521 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Pipe
Products for the Energy, Water Industry and other Industrial Applications. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of Patiala State
Bank of India Punjab
National Bank Canara
Bank Axis
Bank Limited Credit
Agricole Corporate and Investment bank HDFC
Bank Limited ICICI
Bank Limited ING
Vysya Bank Limited Standard
Chartered Bank State
Bank of Mysore State
Bank of Travancore Syndicate
Bank United
Bank of India Karnataka
Bank Limited |
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Facilities : |
NOTE Non-convertible Debentures include : (i) 10.75% Non-Convertible Debentures of Rs. 3000.000 Millions (Previous Year Rs. 3000.000 Millions) are secured by first pari passu charge by way of English mortgage on the Company's specific immovable properties located in the state of Gujarat and by way of equitable mortgage of Company's other immovable properties and hypothecation of moveable fixed assets both present and future in favour of Debenture Trustees. The same are repayable in three equal installments of Rs. 1000.000 Millions each on April 08, 2015, April 08, 2016 and April 08, 2017 (ii) 10.50% Non-Convertible Debentures of Rs. 1000.000 Millions (Previous Year Nil) in three series are secured by first pari passu charge by way of English mortgage on the Company's specific immovable properties located in the state of Gujarat and by way of equitable mortgage of Company's other immovable properties and hypothecation of moveable fixed assets both present and future in favour of Debenture Trustees. The same are repayable in three installments of Rs. 300.000 Millions (Series I), Rs. 300.000 Millions (Series II) and Rs. 400.000 Millions (Series III) on September 12, 2018, September 12, 2019 and September 12, 2020 respectively. There is a call option excercisable at the end of three years from the date of allotment (September 12, 2012) for all series of NCDs. The Call option is also available in every subsequent year for each series of NCD individually i.e.at the end of 4th, 5th, 6th and 7th year from the date of allotment upto their respective dates of maturity. (iii) 10.38% Non-Convertible Debentures of Rs. 3000.000 Millions (Previous Year Nil) in two series are secured by first pari passu charge by way of English mortgage on the Company's specific immovable properties located in the state of Gujarat and by way of equitable mortgage of Company's other immovable properties and hypothecation of moveable fixed assets both present and future in favour of Debenture Trustees. The same are repayable in single installment of Rs. 3000.000 Millions on December 26, 2021.There is a put/call option for Rs. 1500.000 Millions at the end of third year (December 26, 2015) and for Rs. 1500.000 Millions at the end of Fourth year (December 26, 2016) from the date of allotment i.e.December 26, 2012 Term Loans from Banks include : i) Term Loan of Rs. 1370.000 Millions (rate of interest 1.50% p.a.)(Previous Year Rs. 1370.000 Millions) is secured by way of second charge on all the assets of the Company both present and future and also by way of personal guarantee of Director. The same is repayable in three installments of Rs. 411.000 Millions, Rs. 411.000 Millions and Rs. 548.000 Millions on Jan 31, 2017, Jan 31, 2018 and Jan 31, 2019 respectively. ii) Term Loan of Rs. 500.000 Millions (rate of interest 10.75% p.a.) (Previous Year Nil) is secured by way of second charge on all the assets of the Company, both present and future and also by way of personal guarantee of a Director. The repayment is by way of a bullet payment of Rs. 500.000 Millions on May 23, 2017. iii) Term Loan of USD 8904719.50 (Rs. 484.321 Millions) (rate of interest 6 M Libor+400 bps p.a.) (Previous Year Nil) is secured by way of second charge on all the assets of the Company both present and future and also by way of personal guarantee of a Director. The repayment is by way of a bullet payment of USD 8904719.50 (Rs. 484.321 Millions) on May 23, 2017. iv) Term Loan includes Vehicle Loans of Rs. 0.846 million (Previous Year-nil) is secured by way of hyphothecation of Vehicles, which carries rate of interest ranging from 10.50% to 11.00% p.a. Secured Short Term
Borrowings Above short term borrowings of Rs.12645.476 Millions are secured by hypothecation of finished goods, raw materials, work-in-progress, stores and spares, book debts and second pari passu charge in respect of other moveable and immoveable properties of the Company and Rs. 951.813 Millions is secured by second charge pari passu on current assets of the Company. |
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Banking
Relations : |
-- |
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|
|
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Statutory Auditors
: |
|
|
Name : |
N.C. Aggarwal and Company Chartered
Accountants |
|
Address : |
|
|
|
|
|
Internal Auditors :
|
· Singhi and Company Chartered Accountants T.R.
Chadha and Company Chartered Accountants |
|
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|
|
Subsidiaries : |
Direct Subsidiaries: · Jindal ITF Limited IUP
Jindal Metal and Alloys Limited S.V.
Trading Limited Jindal
Fittings Limited Quality
Iron and Steel Limited Ralael
Holdings Limited Jindal
Saw Holdings FZE Greenray
Holdings Limited Universal
Tube Accessories Private Limited (w.e.f. 30th August 2012) Jindal
Saw Espana SL (w.e.f. 21st March 2013) Indirect Subsidiaries (Control Exist) · Jindal Saw USA, LLC Jindal
Saw Middle East FZC Jindal
Intellicom Limited JITF
Water Infrastructure Limited JITF
Urban Infrastructure Limited JITF
Shipyards Limited Jindal
Rail Infrastructure Limited JITF
Waterways Limited JITF
Infralogistics Limited JITF
Water Infra (Naya Raipur ) Limited JITF
ESIPL CETP (Sitarganj) Limited Timarpur-Okhla
Waste Management Company Private Limited Jindal
Saw Gulf LLC Jindal
Saw Italia S.P.A. JITF
Urban Infrastucture Services Limited Intellicom
Insurance Advisors Limited Derwant
Sand SARL JITF
Coal Logistics Limited JITF
Shipping and Logistics ( Singapore) PTE. Limited JITF
Urban Waste Management (Ferozepur) Limited JITF
Urban Waste Management (Jalandhar) Limited JITF
Urban Waste Management (Bathinda) Limited JITF
Industrial Infrastructure Development Company Limited (w.e.f. 2nd
May 2012) Jindal
ITF Kobelco Eco Limited (upto 31st October 2012) JITF
Manila Water Development Company Limited (upto 6th Feburuary 2013) JITF
Global Water Holding Pte. Limited (Strike
off application for closure is filed on 3rd January, 2013 with
Accounting and Corporate Regulatory Authority, Singapore. Closure action is
awaited) JITF
Water Infra (Rajkot) Limited (upto 29th January, 2013) |
|
|
|
|
Joint Venture : |
· Jindal Sigma Limited JWIL-SSIL
JV (w.e.f. 28th Feb. 2012) SMC-JWIL-
JV (w.e.f. 24th Dec. 2012) JWIL-
Ranhill- JV (w.e.f. 27th Nov. 2012 ) |
|
|
|
|
Enterprise over which Key Management Personnel having significant
influence : |
· Sminu Jindal Charitable Trust Hexa
Securities and Finance Company Limited Hexa
Tradex Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital: Rs. 552.500
Millions
:
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
552.500 |
552.458 |
552.458 |
|
(b) Reserves & Surplus |
38266.700 |
36733.754 |
34976.693 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
38819.200 |
37286.212 |
35529.151 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18851.800 |
14807.385 |
9686.737 |
|
(b) Deferred tax liabilities (Net) |
2212.700 |
1747.659 |
1025.159 |
|
(c) Other long term liabilities |
294.200 |
0.525 |
0.774 |
|
(d) long-term provisions |
324.200 |
313.330 |
288.972 |
|
Total Non-current Liabilities (3) |
21682.900 |
16868.899 |
11001.642 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
15194.700 |
17625.093 |
15166.847 |
|
(b) Trade payables |
3945.800 |
4687.630 |
4368.885 |
|
(c) Other current
liabilities |
4970.700 |
4849.742 |
9350.930 |
|
(d) Short-term provisions |
356.900 |
384.384 |
382.652 |
|
Total Current Liabilities (4) |
24468.100 |
27546.849 |
29269.314 |
|
|
|
|
|
|
TOTAL |
84970.200 |
81701.960 |
75800.107 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
25478.320 |
20291.821 |
|
(ii) Intangible Assets |
37451.100 |
83.994 |
84.165 |
|
(iii) Capital
work-in-progress |
|
10112.046 |
6914.080 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
7731.600 |
7565.282 |
6989.654 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2710.200 |
2289.126 |
2602.884 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
47892.900 |
45528.768 |
36882.604 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
150.000 |
700.000 |
0.000 |
|
(b) Inventories |
13867.200 |
14711.052 |
18035.025 |
|
(c) Trade receivables |
13371.000 |
12385.701 |
12896.217 |
|
(d) Cash and cash
equivalents |
404.700 |
629.268 |
1722.158 |
|
(e) Short-term loans and
advances |
9252.300 |
7727.767 |
6250.180 |
|
(f) Other current assets |
32.100 |
19.404 |
13.923 |
|
Total Current Assets |
37077.300 |
36173.192 |
38917.503 |
|
|
|
|
|
|
TOTAL |
84970.200 |
81701.960 |
75800.107 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|||
|
|
SALES |
|
|
|
|||
|
|
|
Income |
55095.900 |
56166.984 |
51979.031 |
||
|
|
|
Other Income |
846.500 |
824.056 |
933.311 |
||
|
|
|
TOTAL (A) |
55942.400 |
56991.040 |
52912.342 |
||
|
|
|
|
|
|
|||
|
Less |
EXPENSES |
|
|
|
|||
|
|
|
Cost of material consumed |
31360.400 |
35766.935 |
38906.067 |
||
|
|
|
Purchase of stock-in-trade |
44.800 |
213.793 |
318.595 |
||
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
2426.300 |
2308.049 |
(4687.800) |
||
|
|
|
Employee benefit Expenses |
3002.000 |
2522.608 |
2374.616 |
||
|
|
|
Other Expenses |
12072.400 |
9327.697 |
8727.254 |
||
|
|
|
Exceptional Items |
739.200 |
1142.420 |
1408.060 |
||
|
|
|
TOTAL (B) |
49645.100 |
51281.502 |
47046.792 |
||
|
|
|
|
|
|
|||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6297.300 |
5709.538 |
5865.550 |
|||
|
|
|
|
|
|
|||
|
Less |
FINANCIAL
EXPENSES (D) |
2261.900 |
1500.779 |
1139.289 |
|||
|
|
|
|
|
|
|||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4035.400 |
4208.759 |
4726.261 |
|||
|
|
|
|
|
|
|||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2127.500 |
1549.519 |
1496.579 |
|||
|
|
|
|
|
|
|||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1907.900 |
2659.240 |
3229.682 |
|||
|
|
|
|
|
|
|||
|
Less |
TAX (H) |
465.200 |
725.100 |
987.800 |
|||
|
|
|
|
|
|
|||
|
|
PROFIT AFTER TAX
(G-H) (I) |
1442.700 |
1934.140 |
2241.882 |
|||
|
|
|
|
|
|
|||
|
Add |
PREVIOUS YEAR
ADJUSTMENT |
NA |
(5.310) |
20.134 |
|||
|
|
|
|
|
|
|||
|
Add |
FOREIGN EXCHANGE
TRANSLATION DIFFERENCE |
NA |
(0.512) |
(1.328) |
|||
|
|
|
|
|
|
|||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1687.881 |
1444.231 |
|||
|
|
|
|
|
|
|||
|
Less |
APPROPRIATIONS |
|
|
|
|||
|
|
|
Transfer to General Reserve |
NA |
1000.000 |
1500.000 |
||
|
|
|
Dividend |
NA |
276.227 |
276.227 |
||
|
|
|
Tax on Dividend |
NA |
46.945 |
44.811 |
||
|
|
|
Debenture Redemption Reserve |
NA |
315.200 |
196.000 |
||
|
|
|
Capital Redemption Reserve |
NA |
0.000 |
0.000 |
||
|
|
|
Interim Dividend paid on Preference Shares |
NA |
0.000 |
0.000 |
||
|
|
|
Corporate dividend tax on above |
NA |
0.000 |
0.000 |
||
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1977.827 |
1687.881 |
|||
|
|
|
|
|
|
|||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|||
|
|
|
F.O.B. Value of Exports |
NA |
31986.888 |
26887.101 |
||
|
|
|
Interest |
NA |
15.430 |
17.235 |
||
|
|
|
Conversion Charges |
NA |
0.000 |
0.000 |
||
|
|
|
Carbon Credits |
NA |
13.072 |
44.788 |
||
|
|
|
Others |
NA |
85.604 |
28.780 |
||
|
|
TOTAL EARNINGS |
NA |
32100.994 |
26977.904 |
|||
|
|
|
|
|
|
|||
|
|
IMPORTS |
|
|
|
|||
|
|
|
Raw Materials |
NA |
20381.822 |
21221.886 |
||
|
|
|
Stores & Spares |
NA |
690.110 |
727.598 |
||
|
|
|
Capital Goods |
NA |
3019.894 |
1111.616 |
||
|
|
TOTAL IMPORTS |
NA |
24091.826 |
23061.100 |
|||
|
|
|
|
|
|
|||
|
|
Earnings Per
Share (Rs.) |
6.10 |
6.98 |
8.12 |
|||
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2014 Unaudited |
|
Type |
|
|
1st Quarter |
|
Net Sales |
|
|
11490.700 |
|
Total Expenditure |
|
|
9872.300 |
|
PBIDT (Excl OI) |
|
|
1618.400 |
|
Other Income |
|
|
273.600 |
|
Operating Profit |
|
|
1892.000 |
|
Interest |
|
|
626.500 |
|
Exceptional Items |
|
|
105.400 |
|
PBDT |
|
|
1370.900 |
|
Depreciation |
|
|
620.700 |
|
Profit Before Tax |
|
|
750.200 |
|
Tax |
|
|
201.200 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
549.000 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
549.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.58 |
3.39 |
4.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.46 |
4.73 |
6.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.47 |
4.15 |
5.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.88 |
0.87 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52 |
1.31 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
552.458 |
552.458 |
552.500 |
|
Reserves & Surplus |
34976.693 |
36733.754 |
38266.700 |
|
Net
worth |
35529.151 |
37286.212 |
38819.200 |
|
|
|
|
|
|
long-term borrowings |
9686.737 |
14807.385 |
18851.800 |
|
Short term borrowings |
15166.847 |
17625.093 |
15194.700 |
|
Total
borrowings |
24853.584 |
32432.478 |
34046.500 |
|
Debt/Equity
ratio |
0.700 |
0.870 |
0.877 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
51979.031 |
56166.984 |
55095.900 |
|
|
|
8.057 |
-1.907 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
51979.031 |
56166.984 |
55095.900 |
|
Profit |
2241.882 |
1934.140 |
1442.700 |
|
|
4.31% |
3.44% |
2.62% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAIL
IN THE HIGH COURT OF DELHI AT NEW DELHI
12
O.M.P. 410/2009
GAIL (INDIA) LIMITED..... Petitioner
Through Mr. Rajiv Tyagi, Advocate
versus
JINDAL SAW LIMITED .. Respondent
Through Mr. Arun Kumar Varma with Ms. Mansi Wadhera, Advocates
CORAM: JUSTICE S. MURALIDHAR
ORDER
22.11.2011
1. Learned counsel for the Petitioner states that the
arbitral record has been collected and will positively be placed in
a sealed cover in the Court within one week.
2. The Registry will thereafter de-seal original record in
accordance with rules to enable learned counsel for the parties to
flag the relevant documents in the arbitral record on which they
seek to rely. The parties will file their respective compilation of
documents and written submissions within eight weeks.
3. List in due course in the category of finals.
S. MURALIDHAR, J
NOVEMBER 22, 2011
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10482837 |
24/02/2014 |
47,000,000,000.00 |
STATE BANK OF
PATIALA |
COMMERCIAL BRANCH,
CHANDRALOK BULIDING, 36, JANPATH, NEW DELHI - 110001, INDIA |
B98591951 |
|
2 |
10464618 |
10/12/2013 |
1,000,000,000.00 |
STATE BANK OF
MYSORE |
INDUSTRIAL
FINANCE BRANCH, 15/17,, SHAHEED BHAGAT |
B91312777 |
|
3 |
10467360 |
27/11/2013 |
4,000,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE
ACCOUNTS GROUP BRANCH, JAWAHAR VYAPAR, |
B92446202 |
|
4 |
10414412 |
21/03/2013 |
1,000,000,000.00 |
DEUTSCHE BANK |
4TH FLOOR, DLF
SQUARE, JACARANDA MARG, DLF PHASE |
B71674378 |
|
5 |
10411946 |
19/03/2013 * |
3,000,000,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND FLR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025,
MAHARASHTRA, INDIA |
B70931746 |
|
6 |
10397818 |
03/06/2013 * |
1,000,000,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND FLR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025,
MAHARASHTRA, INDIA |
B77248375 |
|
7 |
10375391 |
14/09/2012 |
2,370,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B57641730 |
|
8 |
10360631 |
23/05/2012 |
500,000,000.00 |
KARNATAKA BANK
LIMITED |
K - BLOCK,
OVERSEAS BRANCH,, CONNAUGHT PLACE, NEW |
B41628355 |
|
9 |
10360634 |
23/05/2012 |
500,000,000.00 |
KARNATAKA BANK
LIMITED |
K - BLOCK, OVERSEAS
BRANCH, CONNAUGHT PLACE, NEW |
B41629742 |
|
10 |
10360642 |
08/05/2012 |
1,370,000,000.00 |
KARNATAKA BANK
LIMITED |
K-2, CHOUDHRY
BUILDING, CANNAUGHT PLACE, NEW DELHI - 110001, INDIA |
B41632894 |
|
11 |
10298410 |
25/07/2011 |
6,500,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE
ACCOUNTS GROUP BARANCH, JAWAHAR VYAPAR, |
B17282294 |
|
12 |
10297075 |
06/07/2011 * |
3,000,000,000.00 |
AXIS TRUSTEE SERVICES
LIMITED |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI -
400025, MAHARASHTRA, INDIA |
B17593559 |
|
13 |
10286630 |
29/04/2011 |
40,000,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B12859559 |
|
14 |
10250853 |
24/10/2013 * |
39,100,000,000.00 |
STATE BANK OF
PATIALA (LEAD BANK) |
COMMERCIAL
BRANCH, CHANDRALOK BUILDING, 2ND FLOOR, 36, JANPATH, NEW DELHI - 110001,
INDIA |
B88609029 |
|
15 |
10152604 |
21/03/2009 |
37,000,000,000.00 |
STATE BANK OF
PATIALA (LEAD BANK) |
COMMERCIAL
BRANCH, CHANDRALOK BUILDING, 2ND FLOOR, 36, JANPATH, NEW DELHI - 110001,
INDIA |
A60327673 |
|
16 |
10118974 |
13/08/2011 * |
1,900,000,000.00 |
AXIS BANK
LIMITED |
4/10, OPG HOUSE,
ASAF ALI ROAD, NEW DELHI, DELHI |
B22554810 |
|
17 |
10022913 |
31/10/2006 |
37,000,000,000.00 |
STATE BANK OF
PATIALA |
COMMERCIAL
BRANCH, 2ND FLOOR, CHANDRALOK BUILDIN |
A05687629 |
|
18 |
90280740 |
13/12/2004 |
250,000,000.00 |
BANK OF
RAJASTHAN LTD. |
82, JANPATH, NEW
DELHI, DELHI - 110001, INDIA |
- |
|
19 |
90280699 |
08/11/2004 |
9,200,000,000.00 |
STATE BANK OF PATIALA |
C0MMERCIAL
BRANCH, CHANDRALOK BUILDING; JANPATH, NEW DELHI, DELHI, INDIA |
- |
|
20 |
90275824 |
29/03/2004 * |
250,000,000.00 |
BANK OF
MAHARASHTRA |
19/21, AMBALAL
DOSHI MARG; FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
21 |
90275797 |
07/10/2003 |
150,000,000.00 |
IDBI BANK LTD. |
11TH FLOOR;
SURYA KIRAN BUILDING, 19; K.G. MARG, |
- |
|
22 |
90277561 |
30/04/2005 * |
100,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LTD. |
10TH FLOOR; NARIMAN
BHAVAN, 227; VINAY K. SHAH MA |
- |
|
23 |
90277560 |
30/09/2003 * |
100,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
10TH FLOOR;
NARIMAN BHAVAN, 227; VINAY K. SHAH MA |
- |
|
24 |
90275728 |
11/09/2003 * |
1,330,000,000.00 |
STATE BANK OF
PATIALA |
COMMERCIAL
BRANCH, CHANDRALOP BUILDING; JANPATH, |
- |
|
25 |
90275441 |
11/09/2003 * |
200,000,000.00 |
INDUSTRIAL BANK
OF INDIA |
INDIAN RED CROSS
SOCIETY BLDG., 1; RED CROSS ROAD, NEW DELHI, DELHI, INDIA |
- |
|
26 |
90279928 |
07/08/2001 |
200,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
INDIAN RED CROSS
SOCIETY BLDG., 1; RED CROSS ROAD, NEW DELHI, DELHI, INDIA |
- |
|
27 |
90275099 |
21/07/1999 |
1,151,500,000.00 |
STATE BANK OF
PATIALA |
30; REGAL
BUILDING, PARLIAMENT STREET, NEW DELHI, DELHI, INDIA |
- |
|
28 |
90275088 |
30/06/1999 |
150,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER,
CUFFE PARADE; COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
29 |
90277049 |
11/09/2003 * |
100,000,000.00 |
INDUSTRAIL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER, CUFFE
PARADE; COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
30 |
90277037 |
18/03/1999 * |
150,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER,
CUFFE PARADE; COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
31 |
90275001 |
28/12/1998 |
100,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER,
CUFFE PARADE; COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
i) External Commercial Borrowings from Banks |
5004.813 |
|
ii) Deferred Sales Tax Loans |
355.008 |
|
iii) Deposits from Public |
92.397 |
|
|
|
|
SHORT TERM BORROWINGS |
|
|
iv) From Banks |
|
|
- Short Term loan |
2175.572 |
|
- Buyers' credit |
1851.495 |
|
v) Deposits from Public |
0.737 |
|
Total |
9480.022 |
|
NOTE: Deposits from public includes
deposits from related parties Rs. 27.937 Millions. Terms
of repayment of Unsecured Term Loans – i) External Commercial Borrowing
of USD 73,018,334 (Rs. 3971.416 Millions) is repayable
in three installments of USD 24,096,050 (Rs. 1310.567 Millions), USD
24,096,050 (Rs. 1310.567
Millions) and USD 24,826,234 (Rs. 1350.282 Millions) on June 30,
2015, June 30, 2016 and June 30, 2017, respectively. Rate of Interest is 6
months USD LIBOR plus 2.55% p.a. ii) External Commercial
Borrowings of USD 19,000,000 (Rs. 1033.397 Millions) is repayable
in three installments of USD 5,700,000 (Rs. 310.019 Millions), USD 5,700,000
(Rs. 3,100.19
Millions) and USD 7,600,000 (Rs. 413.359 Millions) on Nov 27,
2015, Nov 27, 2016 and Nov 27, 2017, respectively. Rate of Interest is 6
months USD LIBOR plus 2.30% p.a. Deposits from public are
repayable between one to three years. There is no default in repayment
of Principal loans and interest. |
|
STATEMENT
OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2014
PART I
(Rs. In Millions)
|
S. No. |
Particulars |
Quarter Ended |
|
30.06.2014 |
||
|
Unaudited |
||
|
1 |
Income from Operations |
|
|
|
(a) Net Sales /Income from Operations |
11451.100 |
|
|
(b) Other Operating Income |
39.600 |
|
|
Total Income from Operations (net) |
11490.700 |
|
2 |
Expenses |
|
|
|
(a) Cost of materials consumed |
7405.400 |
|
|
(b) Purchases of Stock-in-Trade |
-- |
|
|
(c) Changes in inventories of finished goods,
work-in-progress and Stock-in-Trade |
(1316.900) |
|
|
(d) Employee benefits expense |
859.500 |
|
|
(e) Depreciation and amortization expense |
620.700 |
|
|
(f) Other expenses |
2924.300 |
|
|
Total expenses |
10493.000 |
|
3 |
Profit/(Loss) from Operations before other Income,
finance costs and Exceptional Items (1-2) |
997.700 |
|
4 |
Other Income |
273.600 |
|
5 |
Profit/(Loss) from ordinary activities before
finance costs and Exceptional Items (3+4) |
1271.300 |
|
6 |
Financial costs |
626.500 |
|
7 |
Profit/(Loss) from ordinary activities after finance
costs but before Exceptional Items (5-6) |
644.800 |
|
8 |
Exceptional Items |
(105.400) |
|
9 |
Profit/(Loss) from Ordinary Activities before tax
(7-8) |
750.200 |
|
10 |
Tax expense |
201.200 |
|
11 |
Net Profit/(Loss) from Ordinary Activities after tax
(9-10) |
549.000 |
|
12 |
Extraordinary Items (Net of Tax expense) |
-- |
|
13 |
Net Profit/(Loss) for the period (11-12) |
549.000 |
|
14 |
Paid up equity share capital (Rs. 2 per share) |
552.500 |
|
15 |
Reserves excluding Revaluation Reserves |
|
|
16 |
Debenture Redemption Reserve |
|
|
17.i |
Earnings Per Share before Extraordinary items (on Face Value of Rs. 2/- each) (not annualized): |
|
|
|
Basic |
1.99 |
|
|
Diluted |
1.99 |
|
17.ii |
Earnings Per Share after Extraordinary items (on Face Value of Rs. 2/- each) (not annualized): |
|
|
|
Basic |
1.99 |
|
|
Diluted |
1.99 |
|
PART II |
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
1 |
Public shareholding |
|
|
|
— Number of shares |
148401416 |
|
|
— Percentage of shareholding |
53.73 |
|
2 |
Promoters and promoter group Shareholding |
|
|
|
a) Pledged/Encumbered |
|
|
|
— Number of shares |
-- |
|
|
— Percentage of shares (as a % of the total |
-- |
|
|
shareholding of promoter and
promoter group) |
|
|
|
— Percentage of shares (as a % of the total |
-- |
|
|
share capital of company) |
|
|
|
b) Non-encumbered |
|
|
|
— Number of shares |
127822105 |
|
|
— Percentage of shares (as a % of the total |
100.00 |
|
|
shareholding of promoter and
promoter group) |
|
|
|
— Percentage of shares (as a % of the total |
46.27 |
|
|
share capital of company) |
|
|
|
Particulars |
Quarter Ended 30.06.2014) |
|
B |
INVESTOR COMPLAINTS (Nos.) |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
2 |
|
|
Disposed of during the quarter |
2 |
|
|
Remaining unresolved at the end of the quarter |
Nil |
Notes:
1 Exceptional items :
(a) The net foreign exchange
(gain)lloss on account of differences and reinstatement in foreign exchange
transactions is continued to be considered by the company as
"exceptional" in nature which primarily relates to finance, sales and
purchase of raw materials.
(b)The company is a net
exporterand follows natural hedging policy to manage its foreign exchange
exposure.
2 Tax Expense consists of
lncome Tax and Deferred Tax.
3 Effective from 1st April,
2014, the useful life of fixed assets have been revised in accordance with Schedule
II of the Companies Act, 2013.
Accordingly,
thedepreciation charge forthe quarterended 30th June, 2014 is lower by 710.900
Millions.
4 The Company has only one
business segment namely "Iron and Steel Products" as primarysegment.
5 Previous periodlyearfigures
have been re-groupedlre-arranged wherever considered necessary.
6 These results were
reviewed by the Audit Committee and approved by the Board of Directors in their
meeting held on 24th July, 2014. The
Statutory Auditors have
carried out Limited Review of these financial results.
FIXED ASSETS
v
Tangible
Assets
Free
Hold Land
Lease
Hold Land
Building
Plant
and Equipment
Furniture
and Fixtures
Mine
Development
Vehicles
Office
Equipment
v
Intangible Assets
Computer
Software
Mining
Properties (Stripping Cost)
PRESS RELEASE
JINDAL SAW APPOINTS MR. NEERAJ KUMAR AS GROUP CEO AND WHOLE TIME
DIRECTOR
New Delhi, 1st July, 2013: Jindal SAW Limited, a part of O.P. Jindal Group, announced the appointment of Mr. Neeraj Kumar as Group Chief Executive Officer and Whole Time Director with effect from July 1, 2013.
Prior to joining Jindal SAW, Mr. Kumar was working as MD and CEO of ORIX Auto Infrastructure Services Limited (OAIS), a joint venture company of Infrastructure Leasing and Financial Services Ltd. (ILandFS). He has been associated with large Indian business houses, top multinationals and financial institutions across core infrastructure, commodity, service and financial sectors in the past. Mr. Kumar has earlier worked with Jindal SAW Limited as Director (Finance) and CFO from the year 2002 to 2006.
An MBA in Finance and International Finance, Mr. Kumar has represented private sector companies at Euro Money and CLSA Global and Asia conferences. He has featured regularly in business journals like Asia Risk and Business India.
JINDAL SAW LIMITED ANNOUNCES THE UNAUDITED FINANCIAL RESULTS
(STANDALONE) FOR THE 2ND QUARTER ENDED 30TH SEPTEMBER 2012
30 OCT 2012
Jindal SAW Limited, a total pipe solutions company in the country, announced its Unaudited Financial Results for the 2nd quarter ended September 30th, 2012 as adopted by the Board of Directors in the meeting held today.
The Net Turnover for the second quarter stands at Rs. 16352.000 millions
in comparison to Rs. 14459.000 millions in the corresponding quarter last year.
Blended EBITDA of the second quarter ended September 30th, 2012, is
approximately Rs. 8595 PMT of total pipes sold whereas the EBITDA for the 2nd
quarter ended September 30th 2011 was approximately Rs. 7313 PMT of pipes sold.
Company is witnessing a progressive demand along with a healthy trend in
medium to long term but currently the demand is witnessing a weaker trend due
to mismatch in demand and supply leading to pressure on realization and
profitability. Further, the company is expected to get benefits of the
investments made / to be made in various projects including iron ore and pallet
plant which would add to the turnover and profitability of the company in future.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
63 |
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.