1. Summary Information
|
|
|
Country |
|
|
|
Company Name |
HALDIA
PETROCHEMICALS LIMITED |
Principal Name 1 |
Mr. Rangarajan Vasudevan |
|
|
Status |
Moderate |
Principal Name 2 |
Mr. Umesh Jain |
|
|
|
|
Registration # |
21-039487 |
|
|
Street Address |
|
|||
|
Established Date |
16.09.1985 |
SIC Code |
-- |
|
|
Telephone# |
91-33-22831640/ 43/ 45 / 471024 / 22831637 /22806221 |
Business Style 1 |
Manufacturer |
|
|
Fax # |
91-33-22802390/ 1654 |
Business Style 2 |
Exporter |
|
|
Homepage |
Product Name 1 |
Petrochemical Polymers Products |
||
|
# of employees |
500
(Approximately) |
Product Name 2 |
-- |
|
|
Paid up capital |
Rs.
19,590,210,000/- |
Product Name 3 |
-- |
|
|
Shareholders |
Government companies = 48.87Z% Nationalised or other banks = 7.57% Foreign holdings = 39.83% Bodies corporate = 2.81% Directors or relatives of Directors = 0.26% Other top fifty shareholders = 0.66% |
Banking |
United Bank of |
|
|
Public Limited Corp. |
No |
Business Period |
29 Years |
|
|
IPO |
No |
International Ins. |
- |
|
|
Public |
No |
Rating |
Ca (21) |
|
|
Related Company |
||||
|
Relation
|
Country
|
Company
Name |
CEO |
|
|
Associates |
|
Haldia Riverside Estates Limited (HREL) |
-- |
|
|
Note |
- |
|||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7,739,920,000 |
Current Liabilities |
29,566,430,000 |
|
Inventories |
10,823,010,000 |
Long-term Liabilities |
22,666,030,000 |
|
Fixed Assets |
38,888,670,000 |
Other Liabilities |
278,560,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
52,511,020,000 |
|
Invest& other Assets |
248,290,000 |
Retained Earnings |
(14,401,340,000) |
|
|
|
Net Worth |
5,188,870,000 |
|
Total Assets |
57,699,890,000 |
Total Liab. & Equity |
57,699,890,000 |
|
Total Assets (Previous Year) |
64,240,810,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
86,601,300,000 |
Net Profit / Loss |
(9,601,120,00) |
|
Sales(Previous yr) |
81,344,470,000 |
Net Profit
/ Loss (Prev.yr) |
(7,463,860,000) |
MIRA
INFORM REPORT
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HALDIA PETROCHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.09.1985 |
|
|
|
|
Com. Reg. No.: |
21-039487 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19590.210 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209WB1985SGC039487 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALH00472D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7360R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Petrochemical Polymers
Products. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (21) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a joint venture between the Government of West Bengal, the
Dr. Purnendu Chatterjee Petrochem (Mauritius) and the Tata Group. It is an
established company having a moderate track record. Even though there seems some growth in its revenue from operations
during 2013, it has incurred heavy loss from its operations. There also seems
huge accumulated losses recorded by the company. However, business is active. Payment terms are reported as slow. The company can be considered for business dealings on safe and
secured 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Terms Loans = D |
|
Rating Explanation |
Expected to be in Default |
|
Date |
March, 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Ms. Vijaya |
|
Designation : |
Administrative Department |
|
Contact No.: |
91-33-22831640 |
LOCATIONS
|
Registered/ Eastern
Regional/ Corporate Office: |
|
|
Tel. No.: |
91-33-22831640/ 43/ 45 / 471024 / 22831637 /22806221 |
|
Fax No.: |
91-33-22802390/ 1654 |
|
E-Mail : |
|
|
Websites: |
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|
Location: |
Owned |
|
|
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|
Factory : |
Post |
|
Tel. No.: |
91-3224-274007/ 877/ 876/ 882/ 384 |
|
Fax No.: |
91-3224-274420 |
|
E-Mail : |
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|
54 / A/1 Block – DN, sector 5, |
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Tel. No.: |
91-33-23673491/ 3492/ 3061/ 3062/ 3495/ 91-3224-274007 / 877/876/882/384 |
|
Fax No.: |
91-33-23679890/ 22471361/ 1102 |
|
E-Mail : |
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|
|
|
Southern
Regional Office: |
2A |
|
Tel. No.: |
91-44-24341003 / 9929 / 8592 |
|
Fax No.: |
91-44-2434 1401 |
|
E-Mail : |
|
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|
Northern
Regional Office: |
903, Ansal Bhawan, 16 Kasturba Gandhi Marg, |
|
Tel. No.: |
91-11-23315606 / 5626 / 2372
1348 / 3176 |
|
Fax No.: |
91-11-2372 3327 |
|
E-Mail : |
|
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|
|
|
Western Regional Office |
106-108 |
|
Tel. No.: |
91-22-26590653 / 113/ 219 /318 |
|
Fax No.: |
91-22-2659 0114 |
|
E-Mail : |
|
|
|
|
|
Area Sales
Office: |
18, Old Palasia 102C, Kanchan
Sagar, Tel No: 91-731-2547452
/ 5066979 Fax No:91-731-5066979 Email: asoindo@hpl.co.in Mega Sri Classics, 301, 4th Floor, Tel no: 91-40-55633072 Fax No: 91-40-23358302 Email: asohyd@hpl.co.in 6, Prabhu Sadbhavana, 9/56 Arya Nagar, Tel no: 91-512-255 6863 Fax no: 91-512 -2555089 Email: asokan@hpl.co.in Jaipur
Office: 225, City Centre, Tel no: 91-141-237 6910 Fax No: 91-141-2367910 Email: asojai@hpl.co.in Flat - B, 5th Floor, Noble Enclave, Bhaiwala Chawk, Tel no: 91-161- 403853 / 315136 Fax no: 91-161- 403853 Email: asoludh@hpl.co.in Ahmedabad Office: B - 504, Suhavan Apartments,
Opp. Judges Bunglow Road, Near Rudra Square, Vastrapur, Bodak-Deb, Ahmedabad – 380015, Gujarat, India Tel no: 91-79-6870594 / 6871508 C/O. Adda Office, City Centre, 1st Floor, Tel No:91-343-546815/6716,
Extn. 232 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Uttam Kumar Basu |
|
Designation : |
Managing Director |
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|
Name : |
Mr. Sisir Kumar Mukherjee |
|
Designation : |
Director |
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|
Name : |
Mr. S K Arora |
|
Designation : |
Director |
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|
Name : |
Mr. Sumit Sanghai |
|
Designation : |
Director |
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|
Name : |
Mr. H K Dwivedi |
|
Designation : |
Director |
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|
Name : |
Mr. C M Bachhawat |
|
Designation : |
Director |
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|
Name : |
Dr. Krishna Gupta |
|
Designation : |
Director |
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|
Name : |
Dr. P Chatterjee |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Subhasendu Chatterjee |
|
Designation : |
Director |
|
Address : |
L – 3, Kailash Colony, Second Floor, |
|
Date of Birth/Age : |
13.07.1947 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
04.05.1999 |
|
DIN No.: |
00153459 |
|
|
|
|
Name : |
Mr. Vijay K Chaudhry |
|
Designation : |
Director |
|
Address : |
6126 – A, |
|
Date of Birth/Age : |
19.06.1945 |
|
Qualification : |
B.Tech (IIT), MBA ( |
|
Date of Appointment : |
22.08.2009 |
|
DIN No.: |
02761079 |
|
|
|
|
Name : |
Mr. R Vasudevan |
|
Designation : |
Director |
|
Address : |
F – 262, Greater Kailash Part – 1, |
|
Date of Birth/Age : |
14.06.1937 |
|
Qualification : |
IAS (Retired) MA, MPA ( |
|
Date of Appointment : |
25.07.1997 |
|
DIN No.: |
00025334 |
|
|
|
|
Name : |
Mr. Jamshyd Naoroji Godrej |
|
Designation : |
Director |
|
Address : |
40, |
|
Date of Birth/Age : |
24.01.1949 |
|
Qualification : |
MSc, Business Admin., |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
00076250 |
|
|
|
|
Name : |
Mr. S K V Srinivasan |
|
Designation : |
Director |
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|
|
|
Name : |
Dr. S. S. Banerjee |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Vijaya |
|
Designation : |
Administrative Department |
|
|
|
|
Name : |
Aloke Chattopadhyay |
|
Designation : |
Secretary |
|
Address : |
125, Bonomali Nashar Road, Kolkata – 700 060, West Bengal, India |
|
Date of Birth/Age : |
03.01.1955 |
|
Date of Appointment : |
19.04.2005 |
|
PAN No.: |
ACHPC7998L |
|
|
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|
Audit Committee |
· Mr. Sisir Kumar Mukherjee, Chairman · Mr. H. K. Dwivedi · Mr. S K Arora · Mr. S Chatterjee · Mr. S K V Srinivasan |
|
|
|
|
Margin Committee |
· Dr. Krishna Gupta, Chairman · Mr. S Chatterjee · Mr. S K V Srinivasan · Mr. Sumit Sanghai |
|
|
|
|
Borrowings and Risk
Management Committee |
· Mr. H. K. Dwivedi, Chairman · Dr. S S Banerjee · Mr. S K Arora · Mr. V K Chaudhry |
|
|
|
|
Personnel & Remuneration
Committee |
· Dr. P Chatterjee · Mr. C M Bachhawat · Dr. S S Banerjee |
|
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|
|
Empowered Committee
for CDR |
· Mr. C M Bachhawat, Chairman · Dr. P Chatterjee, Vice Chairman · Dr. Krishna Gupta · Mr. S Chatterjee |
|
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|
|
Project &
Technology Committee |
· Dr. Krishna Gupta, Chairman · Dr. P Chatterjee · Mr. S K V Srinivasan · Mr. R Vasudevan · Mr. Sumit Sanghai |
|
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|
HSE Committee |
· Mr. Sisir Kumar Mukherjee, Chairman · Dr. S S Banerjee · Mr. C M Bachhawat · Mr. S Chatterjee |
|
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|
Board Level Committee
– Demurrage on Naphtha Imports |
· Dr. Krishna Gupta · Mr. Sumit Sanghai · Mr. S Chatterjee |
|
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|
|
Committee to review
Swapping/Tolling arrangement |
· Dr. Krishna Gupta · Mr. Sumit Sanghai |
|
|
|
|
Board Committee to
oversee Smooth PLant Operation |
· Mr. Sisir Kumar Mukherjee · Mr. C M Bachhawat · Dr. Krishna Gupta |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Government companies |
48.87 |
|
Nationalised or other banks |
7.57 |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
39.83 |
|
Bodies corporate |
2.81 |
|
Directors or relatives of Directors |
0.26 |
|
Other top fifty shareholders |
0.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Petrochemical Polymers
Products. |
||||||||
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Products : |
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Exports : |
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||||||||
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Products : |
Finished Goods |
||||||||
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Countries : |
·
China ·
Part of Europe ·
Vietnam |
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|
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
·
Middle East ·
Abu Dhabi |
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Terms : |
|
||||||||
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Selling : |
Cash / Advance Payment / L/C / Cheque / Credit |
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|
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Purchasing : |
Cash / Advance Payment / L/C / Cheque / Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
United Bank of India, Old Court House Street
Branch, 11, Hemanta Basu Sarani, Kolkata – 700 001, West Bengal, India ·
Union Bank, 1/1, Camac Street, Kolkata – 700 016,
West Bengal, India ·
State bank of India, CAG branch, 2nd
Floor, Reliance House, 34, J L Nehru Road, Kolkata – 700 071, West Bengal,
India ·
Export
- Import Bank of India, Floor 21, Centre One Building, Cuffe Parade, Mumbai –
400 005, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
--- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Lodha and Company Chartered Accountants |
|
Address : |
Lodhar and
Company 14, |
|
PAN No.: |
AABFL1894Q |
|
|
|
|
Name 2 : |
P.A. and Associates Chartered Accountants |
|
Address : |
PA and
Associates , 20, Govind Bihar Bamikhal , Bhubaneshwar-751010, |
|
PAN No.: |
AAFFP2414G |
|
|
|
|
|
|
|
Subsidiaries : |
CIN No.: U45202WB1998PLC087462
CIN No.: U45201WB1998PLC086768 |
|
|
|
|
Companies having Substantial Interest in the Company |
CIN No.: U75142WB1967SGC026988
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2200000000 |
Equity Shares |
Rs. 10/- each |
Rs. 22000.000 Millions |
|
300000000 |
Preference Shares |
Rs. 10/- each |
Rs. 3000.000 Millions |
|
|
TOTAL |
|
Rs. 25000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1687938532 |
Equity Shares |
Rs. 10/- each |
Rs.
16879.390 millions |
|
271081818 |
Preference Shares |
Rs. 10/- each |
Rs. 2710.820 millions |
|
|
TOTAL |
|
Rs. 19590.210
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
19590.210 |
19590.210 |
18309.980 |
|
(b) Reserves & Surplus |
(14401.340) |
(4800.220) |
2663.640 |
|
(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) |
5188.870 |
14789.990 |
20973.620 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11890.060 |
15430.710 |
15680.020 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1131.580 |
2267.060 |
|
(c) Other long term liabilities |
10.960 |
10.310 |
9.000 |
|
(d) long-term provisions |
75.250 |
77.250 |
79.780 |
|
Total Non-current Liabilities (3) |
11976.270 |
16649.850 |
18035.860 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10775.970 |
14684.730 |
8331.160 |
|
(b) Trade payables |
21538.370 |
13051.720 |
6913.310 |
|
(c) Other current
liabilities |
8017.100 |
4853.060 |
7521.390 |
|
(d) Short-term provisions |
203.310 |
211.460 |
77.480 |
|
Total Current Liabilities (4) |
40534.750 |
32800.970 |
22843.340 |
|
|
|
|
|
|
TOTAL |
57699.890 |
64240.810 |
61852.820 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
38368.800 |
42261.040 |
45644.890 |
|
(ii) Intangible Assets |
519.870 |
757.860 |
992.450 |
|
(iii) Capital
work-in-progress |
72.740 |
100.640 |
170.44 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
175.550 |
175.550 |
175.550 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2052.150 |
1996.610 |
1631.020 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
41189.110 |
45291.700 |
48614.350 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
50.000 |
0.000 |
|
(b) Inventories |
10823.010 |
12440.220 |
8979.490 |
|
(c) Trade receivables |
840.650 |
1619.640 |
1589.960 |
|
(d) Cash and cash
equivalents |
123.540 |
859.550 |
218.880 |
|
(e) Short-term loans and
advances |
1035.910 |
2855.500 |
1938.060 |
|
(f) Other current assets |
3687.670 |
1124.200 |
449.080 |
|
Total Current Assets |
16510.780 |
18949.110 |
13175.470 |
|
|
|
|
|
|
TOTAL |
57699.890 |
64240.810 |
61789.820 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
86601.300 |
81344.470 |
75501.050 |
|
|
|
|
Other Income |
26.220 |
188.250 |
822.660 |
|
|
|
|
TOTAL |
86627.520 |
81532.720 |
76323.710 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of materials consumed |
74681.360 |
70016.130 |
61403.220 |
|
|
|
|
Manufacturing Service Cost |
-- |
0.000 |
0.000 |
|
|
|
|
Purchases of stock-in-trade |
307.560 |
396.840 |
1972.110 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
781.030 |
(371.690) |
(2075.510) |
|
|
|
|
Employee benefit
expense |
841.430 |
908.260 |
844.240 |
|
|
|
|
Other expenses |
12109.490 |
11984.270 |
10825.330 |
|
|
|
|
TOTAL |
88720.870 |
82933.810 |
72969.390 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(2093.350) |
(1401.090) |
3354.320 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
4336.560 |
3875.080 |
2557.470 |
||
|
|
|
|
|
|
||
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(6429.910) |
(5276.170) |
796.850 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4277.670 |
4241.570 |
4110.180 |
||
|
|
|
|
|
|
||
|
Add |
EXCEPTIONAL
ITEMS |
0.000 |
932.110 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT
/ (LOSS) BEFORE TAX |
(10707.580) |
(8585.630) |
(3313.330) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
(1106.460) |
(1121.770) |
(816.620) |
||
|
|
|
|
|
|
||
|
|
PROFIT
/ (LOSS) AFTER TAX |
(9601.120) |
(7463.860) |
(2496.710) |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Exports |
23935.580 |
27078.500 |
19923.330 |
|
|
|
|
Recovery of Demurrage |
4.070 |
7.410 |
13.050 |
|
|
|
TOTAL EARNINGS |
23939.660 |
27085.910 |
19936.380 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
51202.32 |
51642.940 |
51085.420 |
|
|
|
|
Chemicals, Catalysts, Additives and Spares |
1412.41 |
1542.000 |
1771.250 |
|
|
|
|
Capital Goods |
0.000 |
0.000 |
5.100 |
|
|
|
TOTAL IMPORTS |
52614.730 |
53184.940 |
52861.770 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(6.17) |
(4.8) |
(1.62) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(11.08) |
(9.15)
|
(3.27) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(12.36) |
(10.56)
|
(4.38) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(18.64) |
(13.42)
|
(5.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.06) |
(0.58)
|
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.37 |
2.04
|
1.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.41 |
0.58
|
0.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
18309.980 |
19590.210 |
19590.210 |
|
Reserves & Surplus |
2663.640 |
-4800.220 |
-14401.340 |
|
Net
worth |
20973.620 |
14789.990 |
5188.870 |
|
|
|
|
|
|
long-term borrowings |
15680.020 |
15430.710 |
11890.060 |
|
Short term borrowings |
8331.160 |
14684.730 |
10775.970 |
|
Total
borrowings |
24011.180 |
30115.440 |
22666.030 |
|
Debt/Equity
ratio |
1.145 |
2.036 |
4.368 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
75501.050 |
81344.470 |
86601.300 |
|
|
|
7.740 |
6.462 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
75501.050 |
81344.470 |
86601.300 |
|
Profit / (Loss) |
(2496.710) |
(7463.860) |
(9601.120) |
|
|
(3.31%) |
(9.18%) |
(11.09%) |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
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
DETAILS:
|
Case
Status : Pending
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10473077 |
28/12/2013 * |
23,400,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3 N S ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94665262 |
|
2 |
10470817 |
28/12/2013 * |
16,400,000.00 |
CENTRAL BANK OF INDIA |
33 NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94437852 |
|
3 |
10470715 |
28/12/2013 * |
6,100,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
14, NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94596814 |
|
4 |
10457070 |
28/12/2013 * |
33,000,000.00 |
STATE BANK OF MYSORE |
1- 2, OLD COURT HOUSE CORNER, TOBACCO HOUSE, KOLKATA, WEST BENGAL - 700001, INDIA |
B94651726 |
|
5 |
10455824 |
28/12/2013 * |
338,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 44, PARK SRTEET, KOKATA, |
B94549177 |
|
6 |
10454554 |
28/12/2013 * |
46,900,000.00 |
CANARA BANK |
LOWER CIRCULAR ROAD, 9, LALA LAJPAT RAI SARANI, KOLKATA, WEST BENGAL - 700020, INDIA |
B94250008 |
|
7 |
10452453 |
28/12/2013 * |
23,300,000.00 |
INDIAN BANK |
3A HARE STREET, KOLKATA, WEST BENGAL - 700001, INDIA |
B94269669 |
|
8 |
10451020 |
28/12/2013 * |
81,200,000.00 |
DENA BANK |
16A BRABOURNE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94597747 |
|
9 |
10443634 |
28/12/2013 * |
295,000,000.00 |
ALLAHABAD BANK |
IFB KOLKATA, 17, R.N MUKHERJEE ROAD FOURTH FLOOR, |
B94247889 |
|
10 |
10443446 |
28/12/2013 * |
532,900,000.00 |
IDBI BANK LIMITED |
44 SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700017, INDIA |
B94250974 |
|
11 |
10442350 |
28/12/2013 * |
270,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 1/1 CAMAC STREET, KOLK |
B94435047 |
|
12 |
10438981 |
28/12/2013 * |
1,150,000,000.00 |
STATE BANK OF INDIA |
2ND FLOOR, RELIANCE HOUSE, 34, JAWAHARLAL NEHRU ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B92972165 |
|
13 |
10437811 |
28/12/2013 * |
177,500,000.00 |
STATE BANK OF HYDERABAD |
COMMERCIAL BRANCH, 83, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B94496957 |
|
14 |
10438516 |
28/12/2013 * |
126,200,000.00 |
THE KARUR VYSYA BANK LIMITED |
9 RAMSEVAK MULLICK LANE, (OFF) 43 STRAND ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
B94279569 |
|
15 |
10437807 |
28/12/2013 * |
38,000,000.00 |
INDIAN OVERSEAS BANK |
INDIA EXCHANGE PLACE BRANCH, P 35, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
B94274800 |
|
16 |
10334961 |
16/08/2012 * |
300,000,000.00 |
UNION BANK |
1/1 CAMAC STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B57423857 |
|
17 |
10309832 |
16/08/2012 * |
750,000,000.00 |
IDBI BANK LIMITED |
44, SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700 017, INDIA |
B57423303 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
21 |
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.