MIRA INFORM REPORT
|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
STEEL AUTHORITY OF INDIA LIMITED |
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Registered
Office : |
Ispat Bhawan, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.01.1973 |
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Com. Reg. No.: |
55-006454 |
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Capital
Investment / Paid-up Capital : |
Rs.41305.300 Millions |
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CIN No.: [Company Identification
No.] |
L27109DL1973GOI006454 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS20873G / DELS27448B / DELS23314E / DELS23327D / DELS22351A /
DELS21126A / DELS06268D / DELS23804E / DELS22350G / DELS22349F / DELS21127B |
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PAN No.: [Permanent Account No.] |
AAACS7062F / AAALS7062F / AAAC57062F |
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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 of Steel and Steel Products. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (78) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 122000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a government of India company, having excellent track
record. The rating derives comfort from its established position as India’s
largest integrated steel producer in India with captive iron ore mines,
geographical diversity of sales and comfortable liquidity position backed by
healthy cash and bank balance. Directors are reported to be experienced and respectable businessmen. Fundamental of the company seems to be strong. Trade relations are reported as fair. Business is active. Payment
terms reported to be regular and as per commitments. The company can be considered good for normal nosiness 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go slowly
on talks over coal supply contracts, uncertainty over cancellation of blocks
weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central Bureau of Investigation
arrested Manumeethi Cholan
after he accepted Rs 10 lakhs
as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central
Bank of Rs 4360 mn.
Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has
chosen India to pilot its e-commerce business model for the Asia-Pacific
region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real
estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had wilfully defaulted on Rs
7700 mn of loans and sought more time to comply with
the requirements under the listing agreements with the Stock Exchanges.
OnMobile likely to sack another 300 employees. The lay-offs
follow a spate of senior-level exits over the past two years, starting with of
its founder. The overall lay-offs could number around 600 and are driven by the
need to cut costs, says a former employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long-Term Bond Programme
– I = AAA |
|
Rating Explanation |
Have the highest degree of safety and carry
lowest credit risk |
|
Date |
26.08.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term CP/ICD Programme
: A1+ |
|
Rating Explanation |
Have Very strong degree of safety and lowest
credit risk. |
|
Date |
26.08.2014 |
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 DENIED BY
|
Name : |
Mr. M.C. Jain |
|
Designation : |
Secretary |
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Contact No.: |
91-11-24367867 |
|
Date : |
03.12.2014 |
LOCATIONS
|
Registered / Corporate Office : |
Ispat Bhawan, Lodhi Road, New Delhi – 110003, India |
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Tel. No.: |
91-11-24367481
(14 lines) |
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Fax No.: |
91-11-24367015 |
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E-Mail : |
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Website : |
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Factory: |
IISCO Steel Plant, Burnpur – 713325, West Bengal, India |
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Factory : |
Integrated Steel
Plants · Bhilai Steel Plant, Bhilai – 49000, Chhattisgarh, India · Durgapur Steel Plant, Bardhaman – 713203, West Bengal, India · Rourkela Steel Plant, Sundergarh – 769011, Orissa, India · Bokaro Steel Plant, Bokaro – 827001, Jharkhand, India · P. O. Hinoo, Ranchi – 834002, Jharkhand, India Special Steel
Plants · Alloy Steel Plants, Durgapur – 713208, West Bengal, India · Salem Steel Plant, Salem – 636013, Tamilnadu, India · Visvesvaraya Iron and Steel Plant, Bhadravati, Karnataka, India |
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Sail Refractory
Unit : |
Bokaro Steel City, Bokaro – 827004, Jharkhand, India |
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CMO Regional and
Zonal Offices : |
·
Northern
Region New Delhi · North-Western Region Chandigarh ·
Eastern
Region Kolkata ·
Western
Region Mumbai ·
Central
Region Indore ·
Southern
Region Chennai · North Eastern Zone Guwahati |
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CMO Branch Sales
Offices: |
F-10, Sector-2, Rourkela – 769006, Orissa, India |
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Other CMO Branch
Sales Offices : |
Northern Region: ·
Agra ·
Allahabad ·
Faridabad ·
Ghaziabad ·
Kanpur ·
Lucknow · New Delhi North-West
Region: ·
Chandigarh ·
Jalandhar City ·
Jammu ·
Ludhiana · Mandi Gobindgarh Eastern Region: ·
Bhubaneshwar ·
Bokaro ·
Kolkata ·
Dimapur ·
Durgapur ·
Guwahati ·
Patna Western Region: ·
Ahmedabad ·
Baroda ·
Mumbai ·
Nagpur ·
Pune Central Region: ·
Bhilai ·
Gwalior ·
Indore ·
Jabalpur ·
Jaipur ·
Kota Southern Region: ·
Bangalore ·
Belgaum ·
Chennai ·
Coimbatore ·
Hyderabad ·
Kochi ·
Tiruchirapalli ·
Vijayawada · Visakhapatnam |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. C S Verma |
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Designation : |
Chairman |
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FUNCTIONAL
DIRECTORS |
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Name |
Mr. Anil Kumar Chaudhary |
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Designation : |
Director (Finance) |
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Name : |
Mr. S. S. Mohanty |
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Designation : |
Director (Technical and Commercial (Additional Charge)) |
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Name : |
Mr. H. S. Pati |
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Designation : |
Director (Personnel) |
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Name: |
Mr. T. S. Suresh |
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Designation : |
Director (Projects and Business Planning ) |
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Tel No.: |
91-11-24362897 |
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Name: |
Mr. Kalyan Maity |
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Designation : |
Director (Raw Materials and Logistics) |
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GOVERNMENT
DIRECTORS |
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Name : |
Mr. Vinod Kumar Thakral |
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Designation : |
Additional Secretary and Financial Adviser Ministry of Steel,
Government of India |
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Name : |
Mr. Upendra Prasad Singh |
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Designation : |
Joint Secretary Ministry of Steel, Government of India |
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INDEPENDENT
DIRECTORS |
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Name : |
Dr. Atmanand |
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Designation : |
Independent Director |
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Name : |
Mr. R. S. Sharma |
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Designation : |
Independent Director |
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Name : |
Mr. N. C. Jha |
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Designation : |
Independent Director |
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Name : |
Shri D. K. Mittal |
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Designation : |
Independent Director |
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Name : |
Mrs. Parminder Hira
Mathur |
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Designation : |
Independent Director |
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Name: |
Dr. Isher Judge Ahluwalia |
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Designation : |
Independent Director |
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Name: |
Mr. Sujit Banerjee |
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Designation : |
Independent Director |
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Name: |
Mr. Arun Kumar Srivastava |
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Designation : |
Independent Director |
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Name: |
J.M. Mauskar |
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Designation : |
Independent Director |
KEY EXECUTIVES
|
CHIEF EXECUTIVE
OFFICERS (PERMANENT INVITEES) |
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Bhilai Steel Plant : |
Mr. S. Chandrasekaran |
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Rourkela Steel Plant : |
Mr. G. S. Prasad |
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Bokaro Steel Plant : |
Mr. Anutosh Maitra |
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Durgapur Steel Plant : |
Mr. P. K. Bajaj |
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Name: |
Mr. M.C. Jain |
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Designation : |
Secretary |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
3304293713 |
80.01 |
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|
3304293713 |
80.01 |
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Total shareholding of Promoter and Promoter Group (A) |
3304293713 |
80.01 |
|
(B) Public Shareholding |
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|
|
|
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|
29951766 |
0.73 |
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|
114895568 |
2.78 |
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|
301427621 |
7.30 |
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|
235675064 |
5.71 |
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|
681950019 |
16.51 |
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|
21201397 |
0.51 |
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|
91850773 |
2.22 |
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|
20242261 |
0.49 |
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|
10533441 |
0.26 |
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|
5822950 |
0.14 |
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|
4710491 |
0.11 |
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|
143827872 |
3.48 |
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Total Public shareholding (B) |
825777891 |
19.99 |
|
Total (A)+(B) |
4130071604 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
453685 |
0.00 |
|
|
453685 |
0.00 |
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Total (A)+(B)+(C) |
4130525289 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel and Steel Products. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
· Allahabad Bank ·
Andhra Bank ·
Australia and New Zealand Banking Group Limited ·
Axis Bank Limited ·
Bank of America ·
Bank of Baroda ·
Bank of India ·
Bank of Maharashtra ·
Bank of Tokyo-Mitsubishi UFJ Limited ·
Baraclays Bank PLC ·
BNP Paribas ·
Canara Bank ·
Central Bank of India ·
Citi Bank ·
Corporation Bank ·
Credit Agricole Corporate and
Investment Bank ·
Dena Bank ·
Deutsche Bank ·
Development Bank of Singapore ·
Federal Bank Limited ·
HDFC Bank Limited ·
ICICI Bank Limited ·
IDBI Bank ·
Indian Bank ·
Indian Overseas Bank ·
IndusInd Bank Limited ·
ING Vysya Bank Limited ·
Jammu and Kashmir Bank Limited ·
JP Chase Morgan ·
Kotak Mahindra
Bank Limited ·
Mizuho Corporate Bank ·
Oriental Bank of Commerce ·
Punjab and Sind Bank ·
Punjab National Bank ·
Royal Bank of Scotland ·
Standard Chartered Bank ·
State Bank of Bikaner and Jaipur ·
State Bank of Hyderabad ·
State Bank of India ·
State Bank of Mysore ·
State Bank of Patiala ·
State Bank of Travancore ·
Sumitomo Mitsui Banking Corporation ·
Syndicate Bank ·
UCO Bank ·
Union Bank of India ·
United Bank of India ·
Vijaya Bank ·
Yes Bank Limited |
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Facilities : |
Notes: a. Secured by charges ranking pari-passu inter-se, on all the present and future immovable property at Mouje-Wadej of City taluka, District Ahmedabad, Gujarat and Company's Plant & Machinery, including the land on which it stands, pertaining to IISCO Steel Plant (ISP). b. Secured by charges ranking pari-passu inter-se, on all the present and future immovable property at Mouje-Wadej of City taluka, District Ahmedabad, Gujarat and Company's Plant & Machinery, including the land on which it stands, pertaining to Durgapur Steel Plant.( DSP). c. Redeemable in 12 equal yearly instalments of Rs.140.000 Millions each starting w.e.f. 26th October 2014. Installment payable on 26th October 2014 has been shown in Other Current Liabilities d. Redeemable in 3 equal instalments of Rs.500.000 Millions each on 15th September of 2014, 2019 and 2024. Installment payable on 15th September, 2014 has been shown in Other Current Liabilities e. The soft basis of the loan was drawn in 3 tranches stated as 1(a), 1(b) and 1( c) at an interest rate of 8.75% p.a. The Interest on 1(a) is 0.75% p.a and balance 8% is towards meeting Exchange fluctuation (4%) and Pollution control schemes (4%). In case of 1 (b) the Interest is 3.66% p.a and balance 5.09% p.a is towards periphery development. The Interest on 1(c) is 0.75% p.a and the balance 8 % p.a is towards meeting periphery development. The principal and interest is repayable half yearly. The loan is Guaranteed by Government of India. f. The loan is repayable in 3 equal Instalments on 11th March starting from 2015 at an interest rate of 6 month London Inter-Bank Offered Rate (LIBOR) +1%. Interest is paid half yearly. g. The loan is repayable in 3 equal Instalment on 11th August starting from 2015 at an interest rate of 6 month LIBOR +1%. Interest is paid half yearly. h. The loan is repayable in 3 equal Instalment on 16th November starting from 2015 at an interest rate of 6 month LIBOR +1.06%. Interest is paid half yearly. i. The loan is repayable by 2030. The principal and interest is paid half yearly, guaranteed by Government of India. j. The loan is at an interest rate of 6 month EURIBOR +1.24%. Interest is paid half yearly. Principal Repayable 3 yrs from the date of Bill of lading. k. Redeemable in 5 equal yearly Instalment starting w.e.f. 25th May, 2018. l. The loan is repayable in 3 equal Instalment on 21st December starting from 2016 at an interest rate of 6 month LIBOR +1.75%. Interest is paid half yearly. m. Terms of Repayment is to be decided by SDF management Committee. n. Interest free loan from Government of Maharashtra repayable on 26th October, 2014. SHORT TERM
BORROWINGS a. Secured by hypothecation of all Current Asset b. The Company does not have any continuing default in repayment of Loans and interest on the Balance Sheet date. |
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Banking
Relations : |
-- |
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Auditors : |
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Name 1 : |
S.K. Mittal and Company Chartered Accountants |
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Name 2 : |
O.P. Totla and Company Chartered
Accountants |
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Name 3 : |
B.N. Misra and Company Chartered
Accountants |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint Venture : |
·
SAIL Bansal Service
Centre Limited ·
Mjunction Services
Limited ·
UEC-SAIL
Information Technology Limited ·
Romelt SAIL
(India) Limited ·
N.E Steel
and Galvanising Private Limited ·
Bhilai Jaypee Cement Limited ·
Bokaro Jaypee Cement Limited ·
S and T
Mining Company Private Limited ·
SAIL Kobe
Iron India Private Limited ·
TMTSAL SAIL
JV Limited ·
SAL SAIL JVC
Limited ·
Prime gold –
SAIL JVC limited ·
VSL SAIL JVC
limited ·
Abhinav SAIL JVC
limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000000 |
Equity Shares |
Rs.10/- each |
Rs.50000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4130525289 |
Equity Shares |
Rs.10/- each |
Rs.
41305.300 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 |
41305.300 |
41305.300 |
41305.300 |
|
(b) Reserves & Surplus |
385358.200 |
368941.100 |
356807.900 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
426663.500 |
410246.400 |
398113.200 |
|
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|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
136322.200 |
134855.500 |
115866.600 |
|
(b) Deferred tax liabilities (Net) |
20404.600 |
17285.300 |
16444.800 |
|
(c) Other long term liabilities |
13813.000 |
12711.200 |
13460.000 |
|
(d) long-term provisions |
39012.800 |
42041.600 |
35251.900 |
|
Total Non-current Liabilities (3) |
209552.600 |
206893.600 |
181023.300 |
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
106344.800 |
80150.200 |
45105.500 |
|
(b) Trade payables |
32053.400 |
33220.400 |
32197.500 |
|
(c) Other current
liabilities |
124785.100 |
86547.000 |
83960.300 |
|
(d) Short-term provisions |
20219.500 |
25127.000 |
22970.400 |
|
Total Current Liabilities (4) |
283402.800 |
225044.600 |
184233.700 |
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TOTAL |
919618.900 |
842184.600 |
763370.200 |
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II.
ASSETS |
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|
(1) Non-current assets |
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|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
252565.200 |
152346.300 |
157483.400 |
|
(ii) Intangible Assets |
15141.300 |
15427.700 |
14099.300 |
|
(iii) Capital
work-in-progress |
336505.400 |
358908.500 |
280491.400 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7202.000 |
7183.600 |
6850.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
37943.200 |
31651.700 |
26144.300 |
|
(e) Other Non-current assets |
1354.300 |
507.000 |
779.100 |
|
Total Non-Current Assets |
650711.400 |
566024.800 |
485847.900 |
|
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|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
152008.200 |
160082.100 |
137423.700 |
|
(c) Trade receivables |
54819.800 |
44241.800 |
47487.700 |
|
(d) Cash and cash
equivalents |
28559.500 |
38503.500 |
64157.000 |
|
(e) Short-term loans and
advances |
11605.100 |
9906.900 |
7846.100 |
|
(f) Other current assets |
21914.900 |
23425.500 |
20607.800 |
|
Total Current Assets |
268907.500 |
276159.800 |
277522.300 |
|
|
|
|
|
|
TOTAL |
919618.900 |
842184.600 |
763370.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
466984.100 |
445982.600 |
463351.200 |
|
|
|
Other Income |
8338.000 |
9644.400 |
16294.500 |
|
|
|
TOTAL (A) |
475322.100 |
455627.000 |
479645.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
192711.600 |
211984.800 |
230208.200 |
|
|
|
Purchase of Stock in Trade |
7.800 |
32.100 |
48.800 |
|
|
|
Power and Fuel |
49421.500 |
0.000 |
0.000 |
|
|
|
Employee Benefits Expense |
95785.100 |
86372.000 |
79320.500 |
|
|
|
Other Expenses |
78952.200 |
121608.100 |
107071.700 |
|
|
|
Exceptional Items |
(9591.200) |
2293.200 |
2620.200 |
|
|
|
Adjustments pertaining to Earlier Years |
0.000 |
(415.300) |
105.400 |
|
|
|
Changes in Inventories of Finished Goods, Work in Progress
and Stock in Trade |
8946.300 |
(20160.900) |
(13685.100) |
|
|
|
TOTAL (B) |
416233.300 |
401714.000 |
405689.700 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
59088.800 |
53913.000 |
73956.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9676.400 |
7476.600 |
6777.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
49412.400 |
46436.400 |
67179.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17166.900 |
14029.800 |
15670.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
32245.500 |
32406.600 |
51508.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6080.700 |
10703.100 |
16081.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
26164.800 |
21703.500 |
35427.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods(Calculated on FOB basis) |
25532.200 |
11579.500 |
12300.100 |
|
|
TOTAL EARNINGS |
25532.200 |
11579.500 |
12300.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
134046.200 |
128862.600 |
160738.000 |
|
|
|
Stores, Spares and Components |
4863.200 |
5083.500 |
4251.300 |
|
|
|
Capital Goods |
17068.000 |
13692.200 |
12269.600 |
|
|
TOTAL IMPORTS |
155977.400 |
147638.300 |
177258.900 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.33 |
5.25 |
8.58 |
|
QUARTERLY RESULTS
|
Particulars |
|
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
|
|
113412.000 |
116786.700 |
|
Total Expenditure |
|
102113.800 |
103422.600 |
|
PBIDT (Excl OI) |
|
11298.200 |
13364.100 |
|
Other Income |
|
1957.800 |
1619.700 |
|
Operating Profit |
|
13256.000 |
14983.800 |
|
Interest |
|
3049.500 |
3557.800 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
10206.500 |
11426.000 |
|
Depreciation |
|
4079.500 |
3916.600 |
|
Profit Before Tax |
|
6127.000 |
7509..400 |
|
Tax |
|
828.200 |
1014.500 |
|
Provisions and contingencies |
|
0.000 |
0000 |
|
Profit After Tax |
|
5298.800 |
6494.900 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
5298.800 |
6494.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.60 |
4.87 |
7.65 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.65 |
12.09 |
15.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.60 |
6.81 |
10.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.08 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57 |
0.52 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
1.23 |
1.51 |
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 |
41305.300 |
41305.300 |
41305.300 |
|
Reserves & Surplus |
356807.900 |
368941.100 |
385358.200 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
398113.200 |
410246.400 |
426663.500 |
|
|
|
|
|
|
long-term borrowings |
115866.600 |
134855.500 |
136322.200 |
|
Short term borrowings |
45105.500 |
80150.200 |
106344.800 |
|
Total
borrowings |
160972.100 |
215005.700 |
242667.000 |
|
Debt/Equity
ratio |
0.404 |
0.524 |
0.569 |
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 |
463,351.200 |
445,982.600 |
466,984.100 |
|
|
|
(3.748) |
4.709 |
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
|
463,351.200 |
445,982.600 |
466,984.100 |
|
Profit |
35,427.200 |
21,703.500 |
26,164.800 |
|
|
7.65% |
4.87% |
5.60% |
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 |
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 |
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 |
LITIGATIONS DETAILS:
|
IN THE HIGH COURT OF DELHI AT NEW DELHI STEEL AUTHORITY OF INDIA LIMITED ..... Respondent
The questions sought to be raised in this appeal have already been admitted in different appeals for several years in respect of the very same assessee. fluctuation of foreign exchange??
Issue notice of the admission of this appeal to the respondent. BADAR DURREZ AHMED, J
|
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2014 Rs.
In Millions |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans |
52020.600 |
52663.200 |
|
Steel development fund |
2041.600 |
2041.600 |
|
Others |
0.000 |
0.700 |
|
SHORT TERM
BORROWINGS |
|
|
|
OTHER LOANS AND ADVANCES |
|
|
|
Other loans |
0.000 |
4000.000 |
|
Foreign currency loans |
72995.900 |
68838.600 |
|
Total |
127058.100 |
127544.100 |
FINANCIAL REVIEW
The Company achieved a turnover of Rs. 518660.000 Millions during The financial year 2013-14 (FY 14), which is higher by 5% over the turnover during the Financial Year. The Company registered an increase of 20.6% in its Profit after Tax (PAT), to Rs. 26160.000 Millions in FY 14 up from Rs. 21700.000 Millions in Financial Year 2012-13 (FY 13). The net worth of company improved substantially from Rs. 410250.000 Millions as on 31 March, 2013 to Rs. 426660.000 Millions as on 31 March, 2014 and this helped in generation of internal resources for funding expansion plans of Company. Higher production and sales along with lower cost of imported coal helped improve the bottom line, offsetting more than Rs. 10000.000 Millions of additional wage provision made during the year on account of revision of wages/perks of non-executives pending w.e.f. 1.1.2012. Profit for the year includes receipt of Rs. 10560.000 Millions from M/s Vale, Australia on account of a favourable arbitration/court award in case of a commercial dispute with SAIL. The comparative performance of major financial parameters during the Financial Years 2013-14 and 2012-13 is given in Management Discussion and Analysis Report.
The Company continued its thrust on optimum utilization of funds by better fund management. This included replacement of high cost short- term loans with low cost debts, timely repayment of loans including interest, strategic parking of surplus funds with scheduled banks, actions for future fund raising etc. to meet their growth objectives. Further, the Company hedged the foreign currency risk on Buyer’s Credit and repayment of External Commercial Borrowings depending on market conditions. The Company had liquid assets of Rs. 25000.000 Millions as on 31st March, 2014 invested in short-term deposits with scheduled banks against borrowings of Rs. 252810.000 Millions as on 31st March, 2014. The debt equity ratio of the Company increased to 0.59:1 as on 31st March, 2014 as against 0.53:1 as on 31st March, 2013, mainly on account of increase in borrowings during the year to meet the capital expenditure requirements of the Company. Capital expenditure of Rs. 98900.000 Millions was made during the year, which was higher than the previous Financial Year. The Company paid Interim Dividend @ 20.20% of the paid-up equity share capital during the year, which is marginally higher than the total dividend of 20% paid in FY '13. The Board has decided to treat this Interim Dividend as the total dividend for the year 2013-14. A sum of Rs. 2640.000 Millions was transferred to the general reserves during the year (previous year Rs. 1630.000 Millions).
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
INDUSTRY STRUCTURE
& DEVELOPMENTS
World Economic
Environment
In 2013. Underperformance in the world economy was observed across almost all regions and major economic groups. Most developed economies continued struggling against the lingering effects of the financial crisis, grappling in particular with the challenges of taking appropriate fiscal and monetary policy actions. A number of emerging economies, which had already experienced a notable slowdown in the past two years, encountered new headwinds during 2013 on both international and domestic fronts. In its latest World Economic Outlook update, IMF projects a 3.4% growth for 2014. Global growth is expected to rebound from the second quarter of 2014. With somewhat stronger growth expected in some advanced economies next year, the global growth projection for 2015 is at 4%. Downside risks remain a concern. Increased geopolitical risks could lead to sharply higher oil prices. Global growth could be weaker for longer, given the lack of robust momentum in advanced economies.
WORLD STEEL SCENARIO
World crude steel production reached 1606 million tonnes for the year 2013, up by 3% compared to 2012. The growth came mainly from Asia while crude steel production in all other regions (other than Africa) decreased in 2013 compared to 2012. China’s crude steel production in 2013 reached 779 million tonnes, an increase of 6.6% over 2012. The EU recorded a negative growth of 1.8% compared to 2012, producing 165.6 million tonnes (MT) of crude steel in 2013. It was feared that there would be a lower steel demand in 2013 due to continued Eurozone crisis and anticipated hard landing of China. However, there has been a stronger than expected performance in the developed world in the second half of the year. The world finished steel consumption in 2013 grew by 3.6% to 1.48 billion tonnes. While steel consumption in this period grew at 6.1% in China, the growth was much weaker in India at 1.8%. In India, steel demand is expected to grow by 3.3% to 76.2 MT in 2014, due to an improved outlook for the construction and manufacturing sectors, even though it will be constrained by high inflation and structural problems
INDIAN ECONOMIC
ENVIRONMENT
Financial Year 2013-14 constituted another sub 5% GDP growth year, with the overall GDP growth for fiscal 2013-14 estimated at 4.7%, which is only marginally higher than 4.5% of 2012-13. Industrial growth remains the weakest link in reviving economic growth, staying put at 0.4% over previous year. Mining & Quarrying and Manufacturing posted negative growth of (-) 1.4% & (-) 0.7% respectively. For eight ‘core’ industries—coal, fertilizer, electricity, crude oil, natural gas, refinery products, steel, and cement—the average growth rate declined from 6.5 per cent during 2012-13 to 2.7 percent during 2013-14. However, there has been a marginal recovery in construction sector which grew at 1.6% aggregated for the sector. The growth registered in electricity was 6.1% while capital goods and consumer durables showed decline of 3.6% and 12.2% respectively. However, IMF in its latest outlook (July, 2014) has stated that growth in India appears to have bottomed out, and activity is projected to pick up gradually after the post-election recovery in business sentiment, offsetting the effect of an unfavourable monsoon on agricultural growth.
INDIAN STEEL SCENARIO
Amongst the large steel consuming nations, the steel consumption growth in India has been 2nd only to China. With the steel consumption growth rate in China projected to moderate to around 3% in future, India is going to emerge as fastest growing major steel consuming nation. During 2013-14, domestic crude steel production was 81.5 million tonnes, a growth of 4% over 2012-13. Total finished steel at 85 million tonnes, registered a growth of 4.1% during 2013-14. Export of finished steel at 5.6 million tonnes exceeded the imports of 5.4 million tonnes, after a gap of 5 years. Higher exports were driven by volatility of the rupee, and mismatched demand-supply situation in 2013-14 vis-à-vis previous year.
OUTLOOK
During Financial Year 2014-15, the renewed focus on infrastructure viz. development of smart cities, ports, Pradhan Mantri Gram Sadak Yojna, power plants, plan for doubling pipeline grid, metro for tier 2 cities, industrial corridor, incentives for housing, and revival of SEZ etc. will go a long way to consolidate growth, giving a fillip to the steel sector which has faced stagnant demand of late. Further, in the General Budget for 2014-15, a host of measures inter alia, opening up of more sectors for FDI, plans to accelerate manufacturing growth and facilitating investments, would give a push to the economy. The GDP growth for fiscal 2014-15 has been projected in the range 5.4% to 5.7%, with the subsequent achievement of 7%-8% in the next 3-4 years. The pick-up in GDP growth, and especially in the steel using sectors such as construction, infrastructure and manufacturing are expected to revive growth for steel consumption.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2014
(Rs. In Millions)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
115655.900 |
111956.800 |
227612.700 |
|
b) Other operating income |
1130.800 |
1455.200 |
2570.800 |
|
Total
income from Operations(net) |
116786.700 |
113412.000 |
230183.500 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
43691.400 |
44266.800 |
87958.200 |
|
b) Purchases of stock in trade |
0.000 |
0.000 |
0.000 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(596.400) |
(439.000) |
(1035.400) |
|
d) Employees benefit expenses |
23645.400 |
24584.600 |
48230.000 |
|
e) Depreciation and amortization expenses |
3916.600 |
4079.500 |
7996.100 |
|
f) Other expenditure |
21930.800 |
20478.100 |
42408.900 |
|
g) Power and Fuel |
14751.400 |
13223.200 |
27974.600 |
|
Total expenses |
107339.200 |
106193.200 |
213532.400 |
|
3. Profit from operations before other income and
financial costs |
9447.500 |
7218.800 |
16651.100 |
|
4. Other income |
1619.700 |
1957.800 |
3592.700 |
|
5. Profit from ordinary activities before finance costs |
11067.200 |
9176.600 |
20243.800 |
|
6. Finance costs |
3557.800 |
3049.600 |
6607.400 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
7509.400 |
6127.000 |
13636.400 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
7509.400 |
6127.000 |
13636.400 |
|
10.Tax expenses |
1014.500 |
828.200 |
1842.700 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
6494.900 |
5298.800 |
11793.700 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for
the period (11 -12) |
6494.900 |
5298.800 |
11793.700 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
41304.300 |
41305.300 |
41305.300 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
|
|
|
|
Basic and diluted EPS before Extraordinary items for the period, for the
year to date and for the previous year(not to be annualised) |
1.57 |
1.28 |
2.86 |
|
Basic and diluted EPS after
Extraordinary items for the period, for the year to date and for the previous
year(not to be annualised) |
1.57 |
1.28 |
2.86 |
|
Debt Service Coverage Ratio (Number of times) |
|
|
1.90 |
|
Interest Service Coverage Ratio (Number of times) |
|
|
2.10 |
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
825777391 |
825777391 |
825777391 |
|
- Number of shares |
19.99 |
19.99 |
19.99 |
|
- Percentage of shareholding |
|
|
|
|
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 |
3304293713 |
3304293713 |
3304293713 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
80.00 |
80.00 |
80.00 |
|
|
|
|
|
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
|
0 |
|
|
Receiving during the quarter |
|
9 |
|
|
Disposed of during the quarter |
|
9 |
|
|
Remaining unreserved at the end of the quarter |
|
0 |
|
NOTES TO FINANCIAL RESULTS:
1. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in their Meeting held on 13th November, 2014.
2. The above results have been reviewed by the Statutory Auditors, as required under Clause 41 of the Listing Agreement
3. Net Sales include sales to Government Agencies recognised on provisional contract prices during the Half Year ended 30th September 2014: Rs.17354.200 Millions (corresponding Half Year of previous year: Rs.1846.94 Millions) and cumulatively upto 30th September, 2014: Rs.86000.800 Millions (upto the corresponding Half Year of previous year : Rs.200906.400 Millions).
4. Pending decision by the Hon’ble Supreme Court of India on levy of entry tax in the States of Chattisgarh, Odisha, and Uttar Pradesh, the entry tax demands, under dispute, of Rs.10781.000 Millions, Rs.2985.100 Millions and Rs.924.000 Millions respectively, have been treated as contingent liabilities.
5. Pending decision by the Hon’ble Supreme Court of India in the determination of the electricity tariff, claims of Rs.2917.600 Millions upto 31st March, 2014 made by Damodar Valley Corporation in respect of electricity supplied to one of the Plants of the Company, have been treated as contingent liabilities.
6. In accordance with Companies (Accounting Standards) Amendment Rules, 2009, relating to Accounting Standard – 11, notified on 31st March 2009 and amended from time to time, the foreign exchange fluctuation loss on long-term foreign currency loans of Rs.496.700 Millions (net debit) and Rs.754.200 Millions (net debit) for the current Quarter and Half Year respectively [corresponding Quarter and Half Year of previous year- Rs.2079.700 Millions (net debit) and Rs.4793.900 Millions (net debit)], has been adjusted in the carrying cost of the Fixed Assets/Capital Work-in-progress.
7. The Company has revised the accounting policy for depreciation of tangible assets in alignment with Schedule II to the Companies Act, 2013 which has become applicable from 1st April, 2014. Consequently, profit for the half year is higher by Rs.1917.300 Millions. Further, an amount of Rs.223.96 Millions has been recognised in the opening balance of the retained earnings where the remaining useful life of such tangible assets is Nil as at 1st April, 2014 in line with the provisions of Schedule - II to the Companies Act, 2013.
8. The Auditors in their Limited Review Report for the quarter ended 30th June, 2014 have brought out that the Company has not provided for :
In respect of items stated at (a) and (b) above, the Company’s views are that these cases are sub judice and pending for adjudication before the Hon’ble Supreme Court. The disputed demands, contested on valid and bonafide grounds, have been disclosed as contingent liabilities as it is not probable that present obligations exist as on 30th September, 2014. Therefore, there is no adverse impact on profit. These cases were sub judice as on 31st March, 2012, 2013 & 2014, also and there is no change in the status of these cases till date
9. Formulae used for computation of coverage ratios: Debt Service Coverage Ratio = Earnings before interest, exceptional items and tax/principal repayment and interest payment of long terms loans; and Interest Service Coverage Ratio = Earnings before interest, exceptional items and tax/interest including transferred to Capital Work in Progress.10. The figures of previous periods have been re-grouped, wherever necessary, so as to conform to the current Quarter/Half Year’s classification.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10445797 |
21/03/2014 * |
8,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG,, |
C03816287 |
|
2 |
10407999 |
18/04/2013 * |
5,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG,, |
B74443508 |
|
3 |
10395101 |
18/04/2013 * |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B74443938 |
|
4 |
10373662 |
18/04/2013 * |
3,600,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG,, |
B74444290 |
|
5 |
10322416 |
16/05/2012 * |
4,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B40010092 |
|
6 |
10322417 |
16/05/2012 * |
4,550,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B40013989 |
|
7 |
10229692 |
12/08/2010 * |
5,450,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A93701563 |
|
8 |
10230323 |
12/08/2010 * |
6,600,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A93700938 |
|
9 |
10209543 |
28/04/2010 * |
2,420,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A85166627 |
|
10 |
10211081 |
28/04/2010 * |
4,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A85166759 |
|
11 |
10207558 |
23/02/2010 |
6,000,000,000.00 |
AXIS BANK LIMITED |
4/10, OPG HOUSE,
ASAF ALI ROAD, NEW DELHI, DELHI |
A80960453 |
|
12 |
10199378 |
16/01/2010 |
1,680,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A77846889 |
|
13 |
10199380 |
16/01/2010 |
1,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A77848109 |
|
14 |
10199381 |
16/01/2010 |
3,350,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A77847499 |
|
15 |
10187049 |
10/11/2009 |
1,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A73811770 |
|
16 |
10187050 |
10/11/2009 |
7,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A73812182 |
|
17 |
10187051 |
10/11/2009 |
3,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A73812729 |
|
18 |
10181866 |
06/10/2009 |
6,500,000,000.00 |
UNITED BANK OF INDIA |
12/4, ASAF ALI ROAD, NEW DELHI, DELHI - 110002, INDIA |
A71934996 |
|
19 |
10178438 |
19/09/2009 |
8,250,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A70730296 |
|
20 |
10172177 |
01/05/2012 * |
5,250,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B39399712 |
|
21 |
10172179 |
01/05/2012 * |
9,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B39435912 |
|
22 |
10117687 |
27/03/2007 |
160,000,000.00 |
CENTRAL BANK OF INDIA |
MOMINPUR BRANCH, KOLKATA, WEST BENGAL - 700023, INDIA |
A24332082 |
|
23 |
80048211 |
04/07/2013 * |
135,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS
GROUP BRANCH,, JAWAHAR VYAPAR |
B82452848 |
|
24 |
90043261 |
06/07/2004 * |
65,000,000.00 |
BANK OF MAHARASHTRA |
LEGAL DEPARTMENT, LOKMANGAL; 1501; SHIVAJINAGAR, PUNE, MAHARASHTRA - 411005, INDIA |
- |
|
25 |
90062090 |
06/11/2000 |
350,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
NEW DELHI HOUSE, BARAKHMBA ROAD, NEW DELHI, DELHI, INDIA |
- |
|
26 |
90061463 |
30/05/2001 * |
622,000,000.00 |
STATE BANK OF INDIA |
DELHI, NEW DELHI, DELHI, INDIA |
- |
|
27 |
90061442 |
21/03/2001 * |
6,220,000,000.00 |
STATE BANK OF INDIA |
DELHI, NEW DELHI, DELHI, INDIA |
- |
|
28 |
90061118 |
10/12/2001 * |
2,000,000,000.00 |
BANK OF MAHARASHTRA |
LOKMANGAL , 1501, SHIVAJI NAGAR, PUNE, MAHARASHTRA - 411005, INDIA |
- |
|
29 |
80032318 |
20/12/1993 |
110,000,000.00 |
STATE BANK OF INDIA |
BOKARO STEEL CITY BRANCH, BOKARO, JHARKHAND - 827004, INDIA |
- |
|
30 |
90263457 |
19/12/1998 * |
245,000,000.00 |
STATE BANK OF INDIA |
BOKARO STEET CITY BRANCH, BOKARO, JHARKHAND - 827004, INDIA |
- |
FIXED ASSETS:
· Freehold Land
Leasehold
Land
Buildings
Plant
and Machinery
Steel
Plant
Furniture
and Fittings
Vehicles
Office
Equipments
Miscellaneous
Articles
Roads,
Bridges and Culverts
Water
Supply and Sewerage
EDP
Equipments
Railway
Lines and Sidings
Computer
Software
Mining
Rights
NEWS:
SAIL ACHIEVES 58% GROWTH IN Q2 EBIDTA
New Delhi
Thu, 11/13/2014 - 21:26
New Delhi : SAIL registered an EBIDTA of Rs.14980.000 Millions for the July-Sept’14 quarter which is 58% higher than the corresponding period last year (CPLY). The profit before tax (PBT) of Rs.7510.000 Millions in Q2 FY’15 is higher by 124% over CPLY, excluding the exceptional item of Rs.10560.000 Millions from M/s Vale in August, 2013 on account of arbitration award in favour of SAIL.
The unaudited financial results of SAIL for the quarter July-Sept’14 was taken on record by its Board of Directors today. During the quarter, SAIL achieved a turnover of Rs.129340.000 Millions, which is 1% higher than CPLY. The networth of the company increased to Rs.436220.000 Millions as on 30.9.14, an increase of Rs.9560.000 Millions from 31.3.2014.
Improvement in performance in EBIDTA was helped by factors such as enhanced production of value added steel, better techno-economic parameters along with improvement in net sales realization and reduction in the input cost.
With respect to the modernization and expansion programme, SAIL has already operationalized projects/facilities worth Rs.275000.000 Millions till now. Commencement of integrated operations of 2.5 MTPA new steel plant at Burnpur is slated from November 2014, with the lighting-up of 4060 m3 state-of-the-art blast furnace here. This would be the second such large volume Blast furnace in SAIL, after the first one operationalized in Rourkela Steel Plant in August, 2013.
On this occasion, Chairman, SAIL Mr. C.S. Verma commented, “SAIL is focused on commissioning balance modernization facilities at the earliest and ramping up production from the operationalized units. It is heartening that capacity addition of SAIL is fructifying at a time when the country is witnessing improved economic sentiments and renewed thrust on infrastructure building, which will lead to increased demand of steel.”
INDIA’S LARGEST BLAST FURNACE BLOWN-IN AT IISCO STEEL PLANT
Dec 4, 2014, 02.31PM IST TNN
[ Jaideep Deogharia ]
RANCHI: India's largest blast furnace, 'Kalyani', was successfully blown-in at SAIL's IISCO Steel Plant (ISP), Burnpur recently.
The blowing-in ceremony was attended by SAIL chairman CS Verma,
CMD Mecon A K Tyagi and
officials of SAIL, Mecon, POSCO and NCC.
The state-of-the-art furnace, with a useful volume of 4160 cubic meters, has
now become India's largest operating blast furnace, taking over from a blast
furnace installed at SAIL's Rourkela
Steel Plant in 2013 with a useful volume of 4060 cubic meters.
The furnace is equipped with advanced features like high top pressure
operation, top pressure recovery turbine, twin material bin bell-less top,
stove waste heat recovery, pulverized coal injection and cast house fume
extraction.
This apart, part of the molten metal would be fed to the basic oxygen furnace
(BFO) for conversion to steel at 150 tonnes per hour
while the other half would proceed for pig casting at the rate of 1400 tonnes per day. The slag would also be sold to different
consumers.
The environment-friendly furnace will ensure minimum emission and waste
recovery. The furnace's closed-loop cooling system will ensure zero water
discharge.
"With this furnace, IISCO Steel Plant will regain its past glory," said C S Verma.
"We would like to congratulate SAIL and its chairman for their leadership
as well as those who contributed to the successful blowing-in of the country's
biggest blast furnace," said Tyagi.
Mecon rendered consultancy, engineering and project
monitoring services for this project.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.61.89 |
|
UK Pound |
1 |
Rs.96.83 |
|
Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
78 |
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.