MIRA INFORM REPORT
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Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
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Name : |
JAYASWAL NECO INDUSTRIES LIMITED |
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Formerly Known
As : |
JAYASWAL NECO LIMITED |
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Registered
Office : |
F - 8, M.I.D.C. Industrial Area, Hingna Road, Nagpur – 440016,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.11.1972 |
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Com. Reg. No.: |
11-016154 |
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Capital Investment
/ Paid-up Capital : |
Rs. 6386.331 Millions |
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CIN No.: [Company Identification
No.] |
L28920MH1972PLC016154 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPJ00957F |
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PAN No.: [Permanent Account No.] |
AAACJ3174F |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Supplier of Centrifugal Cast iron Pipe
and Fitting, Centrifugal Cast Iron Hubless Pipe and Fitting, Sand Cast Iron
Pipe and Fitting, Cast Iron and Ductile Iron Manhole Covers, Frames and
Gratings. |
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No. of Employees
: |
19000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow 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
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Rating Agency Name |
ICRA |
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Rating |
Term Loan = BBB- |
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Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk |
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Date |
September 2014 |
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Rating Agency Name |
ICRA |
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Rating |
Non Fund Based Facilities = A3 |
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Rating Explanation |
Have moderate degree of safety and carry higher
credit risk |
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Date |
September 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 : |
Mr. Kapil Saroff |
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Designation : |
Sr. Finance Head |
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Contact No.: |
91-7104-237276 |
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Date : |
03.12.2014 |
LOCATIONS
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Registered Office : |
F - 8, M.I.D.C. Industrial Area, Hingna Road, Nagpur – 440016,
Maharashtra, India |
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Tel. No.: |
91-7104-237276/ 237472/ 237471/ 236251/ 325682/ 325683/ 325684 |
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Fax No.: |
91-7104-237583 / 236255 |
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E-Mail : |
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Website : |
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Factory : |
Steel Plant Division:
Tel. No.: 91-771-3098927
Centricast Division:
Automotive Castings Division:
Construction Castings Division:
Castings Divisions:
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Branch Office : |
Located at:
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DIRECTORS
As on 31.03.2014
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Name : |
Mr. Arbind Jayaswal |
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Designation : |
Managing Director |
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Name : |
Mr. Basant Lall Shaw |
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Designation : |
Chairman |
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Date of Birth/Age : |
03.08.1933 |
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Qualification : |
B.Com |
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Experience : |
Associated with
Iron and Steel business for over 52 years. Instrumental in setting up 1 MTPA Integrated
Steel Plant in Raipur and other units in the Group in India and Abroad.
Founder and Chairman of Neco Group of Industries |
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Date of Appointment : |
28.11.1972 |
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Name : |
Mr. B K Agrawal |
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Designation : |
Director |
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Date of Birth/Age : |
28.01.1949 |
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Qualification : |
M. Com. FCA |
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Experience : |
Practicing Chartered Accountant for over 36 years. Possesses sound knowledge of Accounting, Auditing, Taxation and Corporate Advisory |
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Date of Appointment : |
10.08.1994 |
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Name : |
Mr. M M Vyas |
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Designation : |
Director |
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Date of Birth/Age : |
07.10.1942 |
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Qualification : |
B.Sc. |
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Experience : |
Experience in administration, Export Marketing & Liasoning with Govt. Agencies, Institutions and Banks for over 34 yrs. Associated with Business in Iron and Steel Casting and fittings over 23 yrs. |
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Date of Appointment : |
26.02.1998 |
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Name : |
Mr. P K Bhardwaj |
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Designation : |
Executive Director and CFO |
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Name : |
Mr. Nirmit Ved |
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Designation : |
Director (Exim Bank Nominee) |
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Name : |
Mr. S K Sachdev |
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Designation : |
Director (IDBI Bank Nominee) |
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Name : |
Mr. Ramesh Jayaswal |
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Designation : |
Joint Managing Director |
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Date of Birth/Age : |
02.02.1960 |
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Qualification : |
B.Com |
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Experience : |
Associated with
Iron and Steel business for over 24 years. Looks after the implementation of
new projects and other allied matters. |
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Date of Appointment : |
05.03.1983 |
KEY EXECUTIVES
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Name : |
Mr. A D Karajgaonkar |
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Designation : |
Company Secretary |
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Name : |
Mr. Pramod Shinde |
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Designation : |
Accounts Manager |
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Name : |
Mr. S. A. Niyudkar |
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Designation : |
Vice President |
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Name : |
Mr. Kapil Saroff |
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Designation : |
Sr. Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
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Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
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(A)
Shareholding of Promoter and Promoter Group |
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15158690 |
2.37 |
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424144151 |
66.41 |
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439302841 |
68.79 |
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Total
shareholding of Promoter and Promoter Group (A) |
439302841 |
68.79 |
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(B)
Public Shareholding |
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14306435 |
2.24 |
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|
4086 |
0.00 |
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4062 |
0.00 |
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52745 |
0.01 |
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14367328 |
2.25 |
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125808422 |
19.70 |
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40267 |
3.52 |
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34531722 |
5.41 |
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2167121 |
0.34 |
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586333 |
0.09 |
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1580788 |
0.25 |
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184962894 |
28.96 |
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Total
Public shareholding (B) |
199330222 |
31.21 |
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Total
(A)+(B) |
638633063 |
100.00 |
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(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
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0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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Total
(A)+(B)+(C) |
638633063 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Centrifugal Cast iron Pipe
and Fitting, Centrifugal Cast Iron Hubless Pipe and Fitting, Sand Cast Iron
Pipe and Fitting, Cast Iron and Ductile Iron Manhole Covers, Frames and
Gratings. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Advance Payment, L/C, Cheque and Credit |
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Purchasing : |
Advance Payment, L/C, Cheque and Credit |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Wholesalers, Retailers, End Users, OEM’s and Others |
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No. of Employees : |
19000 (Approximately) |
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Bankers : |
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Facilities : |
Notes: The term loans from banks, financial institutions and
others referred to above aggregating to Rs. 24029.800 millions and Rs.
1917.172 millions included in Current Maturities of Long Term Debts in Note
No. 10 are guaranteed by some of the Directors in their personal capacities
and pledge of 5927000 equity shares of the Company held by the Promoters. Term loans from Banks and Financial Institution
referred to above aggregating to Rs. 22594.834 millions and Rs. 1917.172
millions included in Current Maturities of Long Term Debts in Note No. 10 are
secured by way of :
Term loans from Banks referred to above
aggregating to Rs. 800.000 millions is secured by way of :
Term loans from banks referred to above
aggregating to Rs.6349.66 Lacs are secured by way of first charge on whole of
the moveable and immoveable properties, except Book Debts, Store and Spares
and Stocks, both present and future relating to coking coal mines project
including washery at Moitra coking coal block at North Karanpura Coalfields
near Hazaribagh in Jharkhand (the project) and charge on Current Assets of
the Company on pari-passu basis amongst banks funding the project ranking
next to the charge in favour of bankers to secure their working capital
loans. Term Loans of Rs.7.060 millions and Rs.5.557
millions included in current maturities of long term debt are secured by way
of hypothecation of the specific Equipments/ Vehicles financed. The term loans referred to above aggregating to
Rs.541.667 millions and Rs.250.000 millions included in current maturities of
long term debt in Note no. 10 are further secured by mortgage of certain
piece of land and all the moveable assets of one of the related parties i.e.
Neco Ceramics Limited. Term Loans from Banks and Financial Institutions
referred to above and Rs. 1917.172 millions included in current maturities of
long term debt in Note No.10 are to be repaid as under : Rs.141.667 millions is repayable in 12 equal
monthly instalments of Rs.11.806 millions each, ending on March, 2015. Rs.270.417 millions is repayable in 12 equal monthly
instalments of Rs.22.535 millions each, ending on March, 2015. Rs.127.500 millions is repayable in 24 equal
monthly instalments of Rs.5.313 millions each, commencing from April, 2015 and ending on March, 2017. Rs.246.320 million
is repayable in 18 equal monthly instalments of Rs.13.890 millions
each, ending on September, 2015. Rs.38.193 millions is repayable in 12 equal
monthly instalments of Rs.3.472 million
each, ending on March, 2015. Rs.18.986 millions is repayable in 6 equal
quarterly instalments of Rs.30.88 lacs each, ending on September, 2015. Rs.140.625 millions is repayable in 3 equal quarterly
instalments of Rs.468.75 lacs each, ending on October, 2014. Rs. 550.000 millions is repayable in 11 equal
quarterly instalments of Rs.50.000 millions each, ending on October, 2016. Rs.101.3705 millions is repayable in 36 structured
monthly instalments, ending on March, 2017. Rs.128.333 millions is repayable in 28 equal
monthly instalments of Rs.4.583 millions each, ending on July, 2016. Rs.699.198 millions is repayable in 22 structured quarterly
instalments, ending on October, 2019. Rs.634.966 millions is repayable in 48 equal monthly
instalments of Rs.13.228 millions each, commencing from July, 2015 and ending on June, 2019. Rs.2367.091 millions is repayable in 22 quarterly
instalments of Rs.107.595 millions each, commencing from quarter ending December 2015 and ending in March 2021
quarter. Rs.14026.973 millions is repayable in 78 equal
monthly instalments of Rs.179.833 millions each, commencing from September, 2015 and ending on February, 2022. 40Rs.
2348.271 millions is repayable in 22 equal quarterly instalments of
Rs.106.740 millions each, Commencing
from November 2015 and ending in Feb 2021. Rs. 791.667 millions is repayable in 38 equal
monthly instalments of Rs.20.833 millions each, Commenced from June 2013 and ending in May 2017. Rs. 1349.981 millions is repayable in 90
structured monthly instalments, Commencing from October 2014 and ending in March 2022. Rs. 800.000 millions is repayable in 48 structured
monthly instalments, Commencing from January 2017 and ending in December 2020. Rs. 232.172 millions is repayable in 21 equal
monthly instalments of Rs.11.685 millions each, ending in December, 2015. Rs.20.907 millions lacs is repayable in 3 equal
monthly instalments of Rs.6.116 millions each, ending in June, 2014. Vehicle Loans included in Term Loans above are
repayable in 36 to 60 monthly equal instalments (including interest) as per
repayment schedule. Term Loans from Others referred to above are
repayable in 24 to 36 monthly equal instalments (including interest) as per
repayment schedule. Maturity Profile of
Term Loans is as under (Rs. in Millions)
The Minimum Lease Rentals outstanding as on 31st
March, 2014 in respect of assets having the Gross Liability of Rs.457.493
millions (Previous Year Rs. 232.493 millions) taken on financial lease is as
follows :
General description
of Lease terms : (i) Lease Rentals are charged on the basis of
agreed terms. (ii) Assets are taken on lease for a period of 5 to
10 years. *Includes unpaid amount of Rs.17.62 lacs relating to installment
due on 31st March, 2014 which has since been paid. The Company is entitled to defer its liability to
pay Sales Tax (including a portion of Purchase Tax) in respect of its certain
units. The liability under the Schemes as on 31st March, 2014 is Rs.779.764
millions (Previous Year : Rs. 736.103 millions) which is provided for on the
basis of its Net Present Value of Rs.394.229 millions (Previous Year : Rs.338.576 millions). This Sales-tax liability is
repayable in five equal annual instalments starting at the end of the tenth
year from the year to which it relates. Short
Term Borrowing * Backed by Letter of Credit and includes
Rs.2517.256 millions (Previous Year Rs. 1615.317 millions ) relating to Capital Goods to be paid out
of Term Loans. Working Capital Loans from Banks are secured/to be
secured by the hypothecation of whole of movable properties including Stocks and Book Debts, both present and
future, and by second charge on immovable properties of the Company, excluding the moveable and immoveable
fixed assets at Moitra Coking Coal Block including Washery at North Karanpura Coalfields near Hazaribagh in
Jharkhand, ranking next to the mortgage charge of Financial Institutions and Banks for securing their Term
Loans. The Working
Capital Loans from banks are guaranteed by some of the Directors in their
personal capacities. |
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Auditors 1 : |
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Name : |
Chaturvedi and Shah Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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Auditors 2 : |
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Name : |
Agrawal Chhallani and Company Chartered Accountants |
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Address : |
Nagpur, Maharashtra, India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary: |
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Associate Companies: |
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Other Related Parties: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
598633063 |
Equity Shares |
Rs.10/- each |
Rs.5986.330
Millions |
|
|
Less: Allotment Money Unpaid (from other than Directors) |
|
Rs.0.072
Millions |
|
|
Total |
|
Rs.5986.258 Millions |
Reconciliation of Equity Shares
outstanding at the beginning and at the end of the year
|
Equity Shares |
Number
of Shares |
Rs.
In Millions |
|
Shares outstanding at the beginning of year |
497,183,463 |
4971.834 |
|
Add: Shares
issued pursuant to Scheme of Arrangement |
32,649,600 |
326.496 |
|
Add: Shares issued during the year on Preferential Basis |
68,800,000 |
688.00 |
|
Shares
outstanding at the end of the year |
598,633,063 |
5986.330 |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Jayaswal Holdings Private Limited |
53098951 |
8.87 |
|
Karamveer Impex Private Limited |
44269000 |
7.10 |
|
Nine Star Plastic Packaging Services Private Limited |
41574600 |
6.94 |
|
Jayaswal Neco Metallics Private Limited |
37910500 |
6.33 |
|
Avon Sales and Services Private Limited |
36095000 |
6.03 |
|
Jayaswal Neco Energy Private Limited |
36632000 |
6.12 |
|
Jayaswal Neco Power Private Limited |
32954500 |
5.50 |
|
Anurag Sales and Services Private Limited |
35771000 |
5.98 |
|
Apex Spining Mills Private Limited |
32399600 |
5.41 |
|
Jayaswal Neco Infrastructures Private Limited |
31025500 |
5.18 |
156,426,456 (Previous
Year 123,776,856) shares were allotted in the last five years pursuant to
various Schemes of Amalgamation and Arrangement without payment being received
in cash.
Rights of Equity Shareholders
The Company has only one class of equity shares having a
face value of Rs. 10/- per share. Each shareholder is
eligible for one vote per share held. In the event of
liquidation of the Company, the equity shareholders will be entitled to receive
any of remaining assets of the company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholder.
As approved by the shareholders in their Extraordinary
General Meeting held on 21st March 2014, the Board of Directors has allotted
6,88,00,000 equity shares of Rs. 10 each @ Rs. 25 per share. This money has
been fully
utilised for the upcoming projects and working capital
requirement of the Company.
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 |
5986.258 |
4971.762 |
3596.762 |
|
(b) Reserves & Surplus |
15252.422 |
13093.078 |
8681.604 |
|
(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) |
21238.680 |
18064.840 |
12278.366 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24559.435 |
14411.367 |
10977.102 |
|
(b) Deferred tax liabilities (Net) |
2033.988 |
1606.707 |
1422.841 |
|
(c) Other long term
liabilities |
1.685 |
1.685 |
8.394 |
|
(d) long-term
provisions |
269.495 |
269.495 |
78.233 |
|
Total Non-current
Liabilities (3) |
26864.603 |
16289.254 |
12486.570 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
10005.621 |
7770.145 |
4288.953 |
|
(b) Trade
payables |
3693.623 |
3578.579 |
3427.328 |
|
(c) Other
current liabilities |
3209.556 |
2831.674 |
2550.858 |
|
(d) Short-term provisions |
560.980 |
511.664 |
419.296 |
|
Total Current
Liabilities (4) |
17469.780 |
14692.062 |
10686.435 |
|
|
|
|
|
|
TOTAL |
65573.063 |
49046.156 |
35451.371 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14090.016 |
12175.921 |
11329.832 |
|
(ii)
Intangible Assets |
637.859 |
424.362 |
248.857 |
|
(iii)
Capital work-in-progress |
18926.658 |
9516.801 |
5503.693 |
|
(iv)
Intangible assets under development |
1394.630 |
848.951 |
698.862 |
|
(b) Non-current Investments |
0.001 |
0.001 |
137.056 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14352.527 |
12292.886 |
5511.869 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
49401.691 |
35258.922 |
23430.169 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
144.680 |
143.517 |
4.185 |
|
(b)
Inventories |
7816.505 |
8018.506 |
6938.966 |
|
(c) Trade
receivables |
4106.293 |
3018.541 |
2907.863 |
|
(d) Cash
and cash equivalents |
2545.701 |
1513.030 |
1080.138 |
|
(e)
Short-term loans and advances |
1558.193 |
1093.640 |
968.576 |
|
(f) Other current
assets |
0.000 |
0.000 |
121.474 |
|
Total
Current Assets |
16171.372 |
13787.234 |
12021.202 |
|
|
|
|
|
|
TOTAL |
65573.063 |
49046.156 |
35451.371 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
31610.512 |
25492.423 |
25904.942 |
|
|
|
Other Income |
103.164 |
117.807 |
155.030 |
|
|
|
TOTAL (A) |
31713.676 |
25610.230 |
26059.972 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
18783.290 |
15584.875 |
16375.590 |
|
|
|
Purchase of Stock in Trade |
1690.579 |
546.027 |
203.432 |
|
|
|
Changes in Inventories of Finished Goods and Work in Progress |
(309.342) |
(675.022) |
(508.612) |
|
|
|
Employee Benefits Expense |
1491.693 |
1274.912 |
1191.354 |
|
|
|
Other Expenses |
6044.877 |
5618.137 |
5319.198 |
|
|
|
TOTAL (B) |
27701.097 |
22348.929 |
22580.962 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4012.579 |
3261.301 |
3479.010 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1733.814 |
1806.214 |
1766.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2278.765 |
1455.087 |
1712.604 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1157.244 |
966.836 |
865.931 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1121.521 |
488.251 |
846.673 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
488.534 |
201.777 |
308.677 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
632.987 |
286.474 |
537.996 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2811.611 |
2525.061 |
1986.988 |
|
|
|
|
|
|
|
|
|
Add |
TRANSFERRED FROM
REVALUATION RESERVE |
0.076 |
0.076 |
0.077 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3444.674 |
2811.611 |
2525.061 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
128.516 |
118.428 |
73.101 |
|
|
|
Recovery of Freight |
3.166 |
3.028 |
1.843 |
|
|
TOTAL EARNINGS |
131.682 |
121.456 |
74.944 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2168.135 |
1000.723 |
3858.532 |
|
|
|
Stores & Components |
106.413 |
106.240 |
40.619 |
|
|
|
Capital Goods |
0.278 |
0.000 |
524.000 |
|
|
TOTAL IMPORTS |
2274.826 |
1106.963 |
4423.151 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
1.19 |
0.73 |
1.95 |
|
|
|
Diluted |
1.17 |
0.66 |
1.95 |
|
Expected Sales (2014-15): Rs. 35000.000 Millions.
The above information has been parted by Mr. S. A. Niyudkar.
QUARTERLY /
SUMMARISED RESULTS
|
Particulars |
|
|
|
30.06.2014 (Unaudited) |
|
|
|
|
|
1st Quarter |
|
Net Sales |
|
|
|
6892.600 |
|
Total Expenditure |
|
|
|
6032.400 |
|
PBIDT (Excl OI) |
|
|
|
860.200 |
|
Other Income |
|
|
|
60.600 |
|
Operating Profit |
|
|
|
920.800 |
|
Interest |
|
|
|
416.800 |
|
Exceptional Items |
|
|
|
0.000 |
|
PBDT |
|
|
|
504.000 |
|
Depreciation |
|
|
|
294.600 |
|
Profit Before Tax |
|
|
|
209400 |
|
Tax |
|
|
|
70.500 |
|
Provisions and contingencies |
|
|
|
0..000 |
|
Profit After Tax |
|
|
|
138.900 |
|
Extraordinary Items |
|
|
|
0.000 |
|
Prior Period Expenses |
|
|
|
0.000 |
|
Other Adjustments |
|
|
|
0.000 |
|
Net Profit |
|
|
|
138.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.00 |
1.12 |
2.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
12.69 |
12.79 |
13.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.48 |
1.26 |
2.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.03 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.63 |
1.23 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
0.94 |
1.12 |
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 |
3596.762 |
4971.762 |
5986.258 |
|
Reserves & Surplus |
8681.604 |
13093.078 |
15252.422 |
|
Net
worth |
12278.366 |
18064.840 |
21238.680 |
|
|
|
|
|
|
long-term borrowings |
10977.102 |
14411.367 |
24559.435 |
|
Short term borrowings |
4288.953 |
7770.145 |
10005.621 |
|
Total
borrowings |
15266.055 |
22181.512 |
34565.056 |
|
Debt/Equity
ratio |
1.243 |
1.228 |
1.627 |
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 |
25904.942 |
25492.423 |
31610.512 |
|
|
|
(1.592) |
24.000 |
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 |
25904.942 |
25492.423 |
31610.512 |
|
Profit |
537.996 |
286.474 |
632.987 |
|
|
2.08% |
1.12% |
2.00% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current Maturities of Long-Term Debt |
1922.729 |
1778.017 |
1404.081 |
|
Current Maturities of Long Term Debts Current Maturities of Sales Tax Deferral |
2.517 |
0.000 |
0.000 |
|
Current Maturities of Lease Obligations |
57.700 |
26.159 |
21.241 |
|
Total |
1982.946 |
1804.176 |
1425.322 |
-
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
|
Sales Tax Deferral (Under Package Scheme of Incentives) |
391.712 |
338.576 |
|
Long term maturities of finance lease obligations |
130.863 |
32.217 |
|
Short Term
Borrowings |
|
|
|
Inter Corporate
Deposits taken from |
|
|
|
Related party |
1356.972 |
627.242 |
|
Others |
160.000 |
184.940 |
|
Buyer's Credits |
6.381 |
20.361 |
|
Suppliers Credits * |
3155.114 |
2375.606 |
|
Total |
5201.042 |
3578.942 |
INDEX OF CHARGES
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10485451 |
24/03/2014 |
1,330,000,000.00 |
PUNJAB NATIONAL BANK |
Sitabuldi, Mahajan
Market, Nagpur, Maharashtra - |
C00682559 |
|
2 |
10483785 |
27/03/2014 * |
1,350,600,000.00 |
State bank of India |
Industrial Finance Branch, Bharat Nagar, Amravati Road, Nagpur, Maharashtra - 440010, India |
C01064260 |
|
3 |
10471710 |
09/01/2014 |
1,000,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B94070455 |
|
4 |
10445870 |
26/08/2013 |
860,000.00 |
Axis Bank Limited |
Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India |
B83482174 |
|
5 |
10430629 |
27/03/2014 * |
2,000,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance
Branch, No.5, Sai Complex, Bharat Nagar, Amravati Road, Nagpur, Maharashtra -
|
C01063478 |
|
6 |
10364490 |
14/01/2013 * |
1,000,000,000.00 |
State Bank of Travancore |
125, Central Avenue,, Gandhi Putala, Nagpur, Maharashtra - 440032, India |
B67261529 |
|
7 |
10358283 |
14/01/2013 * |
3,110,000,000.00 |
UNION BANK CONSORTIUM |
Gandhibagh Branch, 318 Post Office Road, Nagpur, Maharashtra - 440002, India |
B66958976 |
|
8 |
10344577 |
14/01/2013 * |
2,870,000,000.00 |
PUNJAB NATIONAL BANK (LEAD BANK) |
Sitabuldi, Mahajan Market, Nagpur, Maharashtra - 440012, India |
B66481649 |
|
9 |
10332723 |
30/01/2012 |
708,787.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai, Maharashtra - 400021, India |
B30893986 |
|
10 |
10321815 |
26/06/2012 * |
1,000,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B43470525 |
|
11 |
10306378 |
15/09/2011 |
2,029,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
B20579512 |
|
12 |
10294186 |
30/06/2011 |
1,772,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
B15815095 |
|
13 |
10288452 |
26/06/2012 * |
1,800,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, No 5, Sai Complex, Bharat Nagar, Amravati Road, Nagpur, Maharashtra - 440010, India |
B43019264 |
|
14 |
10278072 |
27/11/2012 * |
18,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building, Ground Floor, 17, R Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001, India |
B63351969 |
|
15 |
10264595 |
07/05/2013 * |
1,325,000,000.00 |
UCO BANK |
Flagship Corporate Branch,
1st Floor, Mafatlal Centre, Nariman Point, Mumbai, Maharashtra - 400021, |
B75544312 |
|
16 |
10257301 |
26/06/2012 * |
890,000,000.00 |
State Bank of Travancore |
125, Central Avenue, Gandhiputala, Nagpur, Maharashtra - 440032, INDIA |
B43191949 |
|
17 |
10233190 |
21/07/2010 |
1,780,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A90346552 |
|
18 |
10224859 |
26/06/2012 * |
220,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
B43393099 |
|
19 |
10218039 |
09/03/2010 |
2,600,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A84690445 |
|
20 |
10187665 |
15/01/2013 * |
750,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B66959933 |
|
21 |
10173884 |
24/08/2009 |
9,800,000.00 |
L and T Finance Limited |
L and T House,, Ballard Estate, Mumbai, Maharashtra - 400001, India |
A68705490 |
|
22 |
10178255 |
20/08/2009 |
24,750,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A68061274 |
|
23 |
10173886 |
27/07/2009 |
1,575,000.00 |
L and T Finance Limited |
L and T House,, Ballard Estate, Mumbai, Maharashtra - 400001, India |
A68707884 |
|
24 |
10173885 |
23/07/2009 |
18,200,000.00 |
L and T Finance Limited |
L and T House,, Ballard Estate, Mumbai, Maharashtra - 400001, India |
A68706209 |
|
25 |
10161279 |
20/05/2009 |
1,048,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A63694442 |
|
26 |
10154346 |
17/04/2009 |
687,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A60837317 |
|
27 |
10138505 |
27/03/2014 * |
9,881,700,000.00 |
SBI Consortium - Lead - State Bank of India |
Industrial Finance
Branch, 5, Sai Complex, Bharat Nagar, Amravati Road, Nagpur, Maharashtra -
4400 |
C01063940 |
|
28 |
10141124 |
26/06/2012 * |
250,000,000.00 |
Export-Import Bank of India |
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade,, Mumbai, Maharashtra - 400005, India |
B44004950 |
|
29 |
10136554 |
26/06/2012 * |
74,100,000.00 |
BANK OF INDIA |
Nagpur Corporate Banking Branch, S V Patel Marg, Nagpur, Maharashtra - 440001, India |
B42821942 |
|
30 |
10132486 |
26/06/2012 * |
500,000,000.00 |
PUNJAB NATIONAL BANK |
Sitabuldi, Nagpur, Maharashtra - 440012, India |
B43017169 |
|
31 |
10123484 |
26/06/2012 * |
500,000,000.00 |
UNION BANK OF INDIA |
Gandhibagh, Nagpur, Maharashtra - 440002, India |
B42646489 |
|
32 |
10121514 |
15/01/2013 * |
1,750,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B66958026 |
|
33 |
10116416 |
26/06/2012 * |
850,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
B43394352 |
|
34 |
10112644 |
16/05/2008 |
670,000,000.00 |
ALLAHABAD BANK |
Kolkata Industrial
Finance Branch, Kishore Bhavan, 4th Floor, 17 R N Mukherjee Road, Kolkata,
West |
A41117730 |
|
35 |
10088288 |
20/10/2007 |
560,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A32700130 |
|
36 |
10088289 |
20/10/2007 |
560,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A32700726 |
|
37 |
10088290 |
20/10/2007 |
560,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A32701880 |
|
38 |
10068605 |
15/01/2013 * |
250,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B66809641 |
|
39 |
10029747 |
20/12/2006 |
1,000,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, Kishore Bhavan, Kolkata, West Bengal - 700001, India |
A07761166 |
|
40 |
10011948 |
09/06/2006 |
779,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709475 |
|
41 |
10011951 |
09/06/2006 |
613,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709426 |
|
42 |
10012210 |
09/06/2006 |
779,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709616 |
|
43 |
10012212 |
09/06/2006 |
779,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709558 |
|
44 |
90241649 |
17/11/2005 |
14,200,000.00 |
INDUSTRIAL INVESTMENT BANK OF INDIA LIMITED. |
Earnest House,
Nariman Point, Mumbai, Maharashtra |
- |
|
45 |
90241749 |
17/11/2005 |
15,000,000.00 |
BANK OF PUNJAB LIMITED. |
171 B Mittel Court, Nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
46 |
90241750 |
17/11/2005 |
1,600,000.00 |
UNITED INSIA INSURANCE COMPANY LIMITED |
24 Whites Road, P O Boxno 876, Chennai, Tamil Nadu - 600014, India |
- |
|
47 |
80031674 |
17/11/2005 * |
165,300,000.00 |
Industrial Development Bank Of India Limited |
IDBI Tower WTC Complex Cuffe Parade , Mumbai, Maharashtra - 400005, India |
- |
|
48 |
90187037 |
23/12/2003 |
105,000,000.00 |
GLOBAL TRUST BANK LIMITED |
15 Maker Chambers 3 Nariman Point, Mumbai, Maharashtra - 440021, India |
- |
|
49 |
90186876 |
25/09/2001 |
50,000,000.00 |
GLOBAL TRUST BANK LIMITED |
303-48-3 Sardar Patel Road, Secundarabad, Andhra Pradesh - 500003, India |
- |
|
50 |
90186844 |
09/04/2001 |
270,000,000.00 |
Industrial Development Bank Of India Limited |
IDBI Tower WTC Complex Cuffe Parade , Mumbai, Maharashtra - 400005, India |
- |
|
51 |
90187867 |
01/11/2000 |
50,000,000.00 |
GLOBAL TRUST BANK LIMITED |
15 Maker Chambers, 3 Nariman Point, Mumai, Maharashtra - 400021, India |
- |
|
52 |
90186786 |
20/09/2000 |
121,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
- |
|
53 |
90187852 |
27/04/2000 |
80,000,000.00 |
All And Singular The Leasehold Lands Situste |
T 42 In The Nagpur Industrial Area, Nagpur, Maharashtra, India |
- |
|
54 |
90186748 |
17/11/2005 * |
50,000,000.00 |
Industrial Investment Bank of India Limited |
Earnest House,
Nariman Point, Mumbai, Maharashtra |
- |
|
55 |
80032075 |
17/11/2005 * |
294,800,000.00 |
IDBI |
IDBI Tower, colaba , Mumbai, Maharashtra - 400005, INDIA |
- |
|
56 |
90186600 |
08/08/1998 |
50,000,000.00 |
GLOBAL TRUST BANK LIMITED |
Maker Chambers, 3nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
57 |
90186527 |
02/01/1998 |
101,000,000.00 |
GLOBAL TRUST BANK LIMITED |
Maker Chambers 3 Nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
58 |
90186525 |
17/11/2005 * |
1,900,000.00 |
ORIENTAL INS COMPANYLIMITED. |
Oriental House,
Asaf Ali Road, Delhi, Delhi - 110 |
- |
|
59 |
90186488 |
27/04/2000 * |
62,500,000.00 |
Industrial Development Bank Of India Limited |
IDBI Tower WTC Complex Cuffe Parade , Mumbai, Maharashtra - 400005, India |
- |
|
60 |
90187740 |
25/10/2001 * |
900,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
- |
|
61 |
90186400 |
27/04/2000 * |
1,200,000.00 |
EXPORT INPORT BANK OF INDIA |
Centre One World Trade Centre, Mumbai, Maharashtra - 400005, India |
- |
|
62 |
90187727 |
25/10/2001 * |
1,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
- |
|
63 |
90186382 |
17/11/2005 * |
4,500,000.00 |
Oriental Ins Company Limited |
Oriental House, Asaf Ali Road, Delhi, Delhi - 110002, India |
- |
|
64 |
90186231 |
17/11/2005 * |
70,000,000.00 |
Industrial Investment Bank of India Limited |
Earnest House, Nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
65 |
90188986 |
15/12/1976 |
200,000.00 |
The State Industrual Investment Corporation Of Maharashtra L |
1st Floor Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
66 |
90188982 |
08/01/1976 |
400,000.00 |
M S F C |
Fount Road, Nagpur, Maharashtra, India |
- |
* Date of charge modification
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER /
HALF ENDED 30.09.2014
(Rs. In Millions)
|
Sr. No |
Particulars |
|
|||
|
Quarter Ended |
Half Year Ended |
||||
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|||
|
Unaudited |
Unaudited |
Unaudited |
|||
|
1 |
Income From
Operations |
|
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
8294.000 |
6892.100 |
15186.100 |
|
|
|
b. Other Operating Income |
0.400 |
0.500 |
0.900 |
|
|
|
Total Income from
Operations (Net) |
8294.400 |
6892.600 |
15187.000 |
|
|
2 |
Expenditure |
|
|
|
|
|
|
a. Cost of material Consumed |
4710.100 |
3873.900 |
8584.000 |
|
|
|
b. Purchase of Stock-in trade |
1103.800 |
187.300 |
1271.100 |
|
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
(384.500) |
92.700 |
(271.800) |
|
|
|
d. Employees Benefit Expenses |
425.100 |
378.400 |
803.500 |
|
|
|
e. Depreciation and Amortisation Expenses |
297.800 |
294.600 |
592.400 |
|
|
|
Exchange difference |
5.600 |
(26.300) |
(20.700) |
|
|
|
f. Other expenses |
1474.100 |
152.100 |
2994.200 |
|
|
|
Total Expenses |
7652.00 |
6300.700 |
13952.700 |
|
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
542.400 |
591.900 |
1234.300 |
|
|
4 |
Other Income |
26.400 |
34.300 |
60.00 |
|
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
668.800 |
626.200 |
1295.000 |
|
|
6 |
Finance Costs |
415.000 |
416.800 |
831.800 |
|
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
253.800 |
209.400 |
463.200 |
|
|
8 |
Exceptional items |
-- |
-- |
-- |
|
|
9 |
Profit from ordinary
activities before tax |
253.800 |
209.400 |
463.200 |
|
|
10 |
Tax Expense |
|
|
|
|
|
|
- Income Tax |
-- |
44.000 |
44.000 |
|
|
|
- Deferred Tax |
42.300 |
26.500 |
68.800 |
|
|
11 |
Net Profit from
ordinary activity after tax |
211.500 |
138.900 |
350.400 |
|
|
12 |
Extraordinary Items |
-- |
-- |
-- |
|
|
13 |
Net Profit After
Tax |
211.500 |
138.900 |
350.400 |
|
|
14 |
Paid-up equity share capital (face value of Rs.10 per share) |
6386.300 |
5986.300 |
6386.300 |
|
|
15 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
-- |
-- |
-- |
|
|
16 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
|
|
Basic EPS |
0.34 |
0.23 |
0.57 |
|
|
|
Diluted EPS |
0.34 |
0.23 |
0.57 |
|
|
|
|
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
|
- No. of shares |
199330222 |
186730222 |
19330222 |
|
|
|
- Percentage of shareholding |
31.21 |
31.19 |
31.21 |
|
|
18 |
Promoter & Promoter
Group Shareholding |
|
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
|
- No. of shares |
8927000 |
8927000 |
8927000 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
2.03 |
2.17 |
2.03 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
1.40 |
1.49 |
1.40 |
|
|
|
b) Non-encumbered |
|
|
|
|
|
|
- No. of shares |
430375841 |
402975841 |
430375841 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
97.97 |
97.83 |
97.97 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
67.39 |
67.32 |
67.39 |
|
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.09.2013 |
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
1 |
|
Disposed of during the quarter |
1 |
|
Remaining unreserved at the end of the quarter |
Nil |
REPORT
OF SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED, UNDER CLAUSE 41 OF THE
LISTING AGREEMENT
(Rs. In
Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
Quarter
Ended (
Unaudited) |
Quarter
Ended (
Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
1.
Segment Revenue |
|
|
|
|
a. Steel |
6551.800 |
5887.600 |
12439.400 |
|
b. Iron and Steel Castings |
1032.800 |
1067.900 |
2100.700 |
|
c.Other |
746.700 |
-- |
746.700 |
|
Total |
8331.300 |
6955.500 |
15286.800 |
|
Less : Inter Segment Revenue |
37.300 |
63.400 |
100.700 |
|
Net
Sales from operations |
8294.000 |
6892.100 |
15186.100 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
a. Steel |
603.400 |
581.800 |
1185.200 |
|
b. Iron and Steel Castings |
14.500 |
27.100 |
41.600 |
|
c. others |
41.600 |
-- |
41.600 |
|
Total |
659.500 |
608.900 |
1268.400 |
|
Less
: (i) Interest |
(415.000) |
(416.800) |
(831.800) |
|
(ii) Other un-allocable expenditure
net off un-allocable income. |
(9.600) |
(9.300) |
(18.900) |
|
Add : Unallocated Income |
18.900 |
26.600 |
13.100 |
|
Profit
before Tax |
253.800 |
209.400 |
463.200 |
|
|
|
|
|
|
3.
Capital Employed |
|
|
|
|
a. Steel |
58412.700 |
56287.200 |
58412.700 |
|
b. Iron and Steel Castings |
2905.200 |
2875.200 |
2905.200 |
|
c. Others |
73.300 |
-- |
73.300 |
|
d. Unallocated (Assets –
Liabilities) |
(38802.200) |
(37784.800) |
(38802.200) |
|
Total |
22589.000 |
21377.600 |
22589.000 |
STATEMENT OF ASSETS AND
LIABILITIES
|
SOURCES OF FUNDS |
|
|
As on 30.09.2014 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a)
Share Capital |
|
|
6386.300 |
|
(b) Reserves & Surplus |
|
|
16202.700 |
|
|
|
|
22589.000 |
|
|
|
|
|
|
(2)
Minority Interest |
|
|
0.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
28573.600 |
|
(b) Deferred tax liabilities (Net) |
|
|
2102.800 |
|
(c) Other long term
liabilities |
|
|
1.700 |
|
(d) long-term
provisions |
|
|
269.500 |
|
|
|
|
30947.600 |
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
8256.700 |
|
(b) Trade
payables |
|
|
3812.500 |
|
(c) Other
current liabilities |
|
|
3201.600 |
|
(d) Short-term
provisions |
|
|
576.800 |
|
|
|
|
15847.600 |
|
|
|
|
|
|
TOTAL |
|
|
69384.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
40957.800 |
|
(b)Goodwill
on Consolidation |
|
|
0.000 |
|
(c) Non-current Investments |
|
|
0.000 |
|
(d) Deferred tax assets (net) |
|
|
0.000 |
|
(e) Long-term Loan and Advances |
|
|
14207.100 |
|
(f) Other
Non-current assets |
|
|
0.000 |
|
|
|
|
55164.900 |
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
149.600 |
|
(b)
Inventories |
|
|
7849.300 |
|
(c) Trade
receivables |
|
|
4027.100 |
|
(d) Cash
and cash equivalents |
|
|
925.800 |
|
(e) Short-term
loans and advances |
|
|
1267.500 |
|
(f) Other
current assets |
|
|
0.000 |
|
|
|
|
14219.300 |
|
|
|
|
|
|
TOTAL |
|
|
69384.200 |
FIXED ASSETS
·
Freehold Land
·
Leasehold Land
·
Building
·
Railway Siding
·
Plant and Machinery
·
Developed Property
·
Office Equipment
·
Furniture and Fixture
·
Vehicles
·
Software
·
Technical Know-how
·
Process Development
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.88 |
|
|
1 |
Rs. 96.82 |
|
Euro |
1 |
Rs. 76.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.