1. Summary Information
|
|
|
Country |
India |
|
Company Name |
DELHI METRO RAIL CORPORATION LIMITED |
Principal Name 1 |
Mr. Ramesh Chandra |
|
Status |
Good |
Principal Name 2 |
Mr. Sudhir Krishna |
|
|
|
Registration # |
55-068150 |
|
Street Address |
Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi – 110001,
Delhi |
||
|
Established Date |
03.05.1995 |
SIC Code |
|
|
Telephone# |
91-11-23417910/12 |
Business Style 1 |
Rail Based Transport Company |
|
Fax # |
91-11-223417921 |
Business Style 2 |
|
|
Homepage |
Product Name 1 |
Urban and suburban metro railway transport services |
|
|
# of employees |
Not Available |
Product Name 2 |
Rental or leasing services of factories, office |
|
Paid up capital |
Rs.133,346,404,000/- |
Product Name 3 |
Engineering advisory services |
|
Shareholders |
Government [Central and State] - 100% |
Banking |
Corporation Bank |
|
Public Limited Corp. |
Yes |
Business Period |
46 Years |
|
IPO |
No |
International Ins. |
|
|
Public |
No |
Rating |
A (63) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
84,168,214,000 |
Current Liabilities |
2,756,602,000 |
|
Inventories |
1,097,931,000 |
Long-term Liabilities |
191,757,030,000 |
|
Fixed Assets |
292,819,460,000 |
Other Liabilities |
31,480,286,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
225,993,918,000 |
|
Invest& other Assets |
16,134,515,000 |
Retained Earnings |
28,867,348,000 |
|
|
|
Net Worth |
168,226,202,000 |
|
Total Assets |
394,220,120,000 |
Total Liab. & Equity |
394,220,120,000 |
|
Total Assets (Previous Year) |
351320427000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
24,214,699,000 |
Net Profit |
(909,090,000) |
|
Sales(Previous yr) |
19,474,585,000 |
Net Profit(Prev.yr) |
(1,851,496,000) |
|
Report Date : |
13.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DELHI METRO RAIL CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi – 110001,
Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.05.1995 |
|
|
|
|
Com. Reg. No.: |
55-068150 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 133846.404 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995GOI068150 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD03776D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3254A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Rail Based Transport Company |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 670000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having fine track. It is jointly owned by Government of India and Government of National
Capital Territory of Delhi. Financial position of the company appears to be sound. Trade relation are fair. Business is active. Payment terms are
reported to be regular. The company can be considered normal for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA+ |
|
Rating Explanation |
Have high degree of safety and carry very low credit risk. |
|
Date |
14 November, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi – 110001,
Delhi, India |
|
Tel. No.: |
91-11-23417910/12 |
|
Fax No.: |
91-11-223417921 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Mangu Singh |
|
Designation : |
Managing Director |
|
Address : |
R/o Banglow No. 4, Metro Enclave, 41, Press, Enclave Road, Pushp Vihar, Sector-7, New Delhi-110017, India |
|
Date Of Appointment : |
01.01.2012 |
|
DIN No.: |
01549363 |
|
|
|
|
Name : |
Mr. Ramesh Chandra |
|
Designation : |
Nominee Director |
|
Address : |
R/O 717, Bhagwan Bas, Road, New Delhi – 110001, India |
|
Date Of Appointment : |
26.08.2003 |
|
DIN No.: |
00545097 |
|
|
|
|
Name : |
Mr. Sudhir Krishna |
|
Designation : |
Nominee Director |
|
Address : |
R/O 272, 13'~C Ross, 5& Main,
Rajmahal Vilas, Extension, Stage-If Banglore -560094, Kamataka India |
|
Date Of Appointment : |
07.09.2011 |
|
DIN No.: |
01418617 |
|
|
|
|
Name : |
Mr. Hajit Hand Singh |
|
Designation : |
Whole-Time Director |
|
Address : |
Wo Flat No. A-6 Metro, Enclave, 4 1, Press, Enclave Road, Pushpavihar,
Sector-7, New Delhi- 110017 |
|
Date Of Appointment : |
05.06.2007 |
|
DIN No.: |
01549385 |
|
|
|
|
Name : |
Mr. Naini Jayaseelan |
|
Designation : |
Nominee Director |
|
Address : |
R/o 59 Indira
Nagar,Gorimedu, Pondicheny- 605006 |
|
Date Of Appointment : |
26.12.2011 |
|
DIN No.: |
01562512 |
|
|
|
|
Name : |
Mr. Deepak Mohan Spolia |
|
Designation : |
Nominee Director |
|
Address : |
Ro 51A
Corn Road, Civil Lines Delhi –
10054, India |
|
Date Of Appointment : |
30.06.2011 |
|
DIN No.: |
01804004 |
|
|
|
|
Name : |
Mr. Diptivilasa Devana Konda |
|
Designation : |
Nominee Director |
|
Address : |
RO 66, D-1 Flats, Satya Marg, Chanakya Puyi,.New Delhi-110021, India |
|
Date Of Appointment : |
26.12.2011 |
|
DIN No.: |
05181372 |
|
|
|
|
Name : |
Mr. Jitendra Tyagi |
|
Designation : |
Whole-Time Director |
|
Address : |
R/R, A1 , Sector-7, Metro Enclave, Pushp Vihar, New Delhi – 110017, India |
|
Date Of Appointment : |
15.03.2012 |
|
DIN No.: |
05262463 |
|
|
|
|
Name : |
Mr. Somdutt Sharma |
|
Designation : |
Whole-Time Director |
|
Address : |
Ro Flat No. A-8 Metro Enclave, Sectar-7, Pushp
Vihar 41, Press Enclave Road, New
Delhi – 110017, India |
|
Date Of Appointment : |
18.06.2012 |
|
DIN No.: |
05323524 |
|
|
|
|
Name : |
Dinesh Kumm Saini |
|
Designation : |
Whole-Time Director |
|
Address : |
Ro Banglaw No. 5 Metro Enclave,
4 1, Press Emlave Road,
PushpVihar, Sector-7, New Delhi – 110017, India |
|
Date Of Appointment : |
17.10.2012 |
|
DIN No.: |
06425474 |
|
|
|
|
Name : |
Mr. Naresh Salecha |
|
Designation : |
Nominee Director |
|
Address : |
Wa 253/2A, Railway Colony,
P.K,Road, New Delhi -110001, India |
|
Date Of Appointment : |
03.09.2013 |
|
DIN No.: |
00843812 |
|
|
|
|
Name : |
Mr. Sharat Sharma |
|
Designation : |
Whole Time Director |
|
Address : |
R/s: Flat No. A-3, Metro Enclave, 41, Press
Enclave Road, Sector-7, Pushp Vihar, New Delhi -110001, India |
|
Date Of Appointment : |
01.01.2013 |
|
DIN No.: |
06530745 |
|
|
|
|
Name : |
Mr.Sudhir Mial |
|
Designation : |
Nominee director |
|
Address : |
R/O Q. No. B-.9,9th Floor, lwk-6, New Muti Bagh, New Delhi- 100021, India |
|
Date Of Appointment : |
14.06.2013 |
|
DIN No.: |
06629927 |
|
|
|
|
Name : |
Mr. Shakti Sinha |
|
Designation : |
Nominee Director |
|
Address : |
R/o B-23, Aditi Apartment 16-A, I.P. Extension Patpagbnj, New DeIhi,
110092, India |
|
Date Of Appointment : |
01.01.2013 |
|
DIN No.: |
02876853 |
|
|
|
|
Name : |
Mr. Kewal Krishan Saberwal |
|
Designation : |
Nominee Director |
|
Address : |
R/o 1OA Lake View Road, 1st Floor, Kolkata-700029, West Bengal ,
India |
|
Date Of Appointment : |
28.02.2013 |
|
DIN No.: |
03428873 |
|
|
|
|
Name : |
Mr. Annop Kumar Gupta |
|
Designation : |
Whole time Director |
|
Address : |
R/o Q. No. B-9, 9th Floor, Block-6, New Moti Bagh, New
Delhi – 110021, India |
|
Date Of Appointment : |
01.04.2013 |
|
DIN No.: |
06572327 |
|
|
|
|
Name : |
Mr. Puneet Kumar Goel |
|
Designation : |
Nominee director |
|
Address : |
R/o VI, Type - V, Jal Vihar, Lajpat Nagar, New Delhi 110024, India |
|
Date Of Appointment : |
28.02.2013 |
|
DIN No.: |
00289592 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil Kumar Sakhuja |
|
Designation : |
Secretary |
|
Address : |
R/o FC-44,Shivaji Enclave, New Delhi, 110027, India |
|
PAN No. : |
AAHPS4308R |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
The President of India |
|
68798648 |
|
The Lt. Governor of India |
|
68798648 |
|
A. K. Nigam |
|
1 |
|
Vilasini Ramachandran |
|
1 |
|
Rakesh Chopra |
|
1 |
|
Rakesh Mehta |
|
1 |
|
Navin Kumar |
|
1 |
|
R.C. Mishra |
|
1 |
|
R.K. Verma |
|
1 |
|
J.P. Singh |
|
1 |
|
|
|
|
|
Total
|
|
137597304 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Government
[Central and State] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Rail Based Transport Company |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Corporation Bank, Ansals chamber-I, Bhikaji Cama Place,, New Delhi -
110066, Delhi, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh Chandra & Associates (Chartered Accountant) |
|
Address : |
610, New Delhi House, 27, Barakhamba Road, New Delhi – 110001, India |
|
Tel. No.: |
AACFS1330D |
CAPITAL STRUCTURE
After 31.03.2013
Authorised Capital : Rs.200000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.141877.304
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.1000/- Each |
Rs.200000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
133846404 |
Equity Shares |
Rs.1000/-
Each |
Rs.133846.404
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
133846.404 |
118239.504 |
103057.104 |
|
(b) Reserves & Surplus |
28867.348 |
22624.331 |
19958.979 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
5512.450 |
4803.450 |
5433.400 |
|
Total
Shareholders’ Funds (1) + (2) |
168226.202 |
145667.285 |
128449.483 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
191757.030 |
177632.539 |
162045.408 |
|
(b) Deferred tax liabilities (Net) |
9526.391 |
8699.224 |
7531.136 |
|
(c) Other long term liabilities |
2114.864 |
2372.920 |
2891.817 |
|
(d) long-term provisions |
614.731 |
389.802 |
314.886 |
|
Total Non-current Liabilities (3) |
204013.016 |
189094.485 |
172783.247 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
4768.640 |
|
(b) Trade payables |
1838.576 |
985.628 |
973.046 |
|
(c) Other current
liabilities |
19839.031 |
15108.894 |
17097.850 |
|
(d) Short-term provisions |
303.295 |
464.135 |
418.691 |
|
Total Current Liabilities (4) |
21980.902 |
16558.657 |
23258.227 |
|
|
|
|
|
|
TOTAL |
394220.120 |
351320.427 |
324490.957 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
292793.374 |
288718.772 |
271693.836 |
|
(ii) Intangible Assets |
26.086 |
13.546 |
18.757 |
|
(iii) Capital
work-in-progress |
16134.515 |
3607.953 |
8997.058 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9401.369 |
1621.587 |
1061.892 |
|
(e) Other Non-current assets |
793.945 |
429.417 |
281.670 |
|
Total Non-Current Assets |
319149.289 |
294391.275 |
282053.213 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1097.931 |
629.293 |
463.931 |
|
(c) Trade receivables |
2526.329 |
1416.102 |
2285.894 |
|
(d) Cash and cash
equivalents |
53156.530 |
40152.426 |
29195.710 |
|
(e) Short-term loans and
advances |
667.413 |
166.959 |
93.534 |
|
(f) Other current assets |
17622.628 |
14564.372 |
10398.675 |
|
Total Current Assets |
75070.831 |
56929.152 |
42437.744 |
|
|
|
|
|
|
TOTAL |
394220.120 |
351320.427 |
324490.957 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
24214.699 |
19474.585 |
14429.112 |
|
|
|
Other Income |
2660.103 |
2982.058 |
1651.171 |
|
|
|
TOTAL (A) |
26874.802 |
22456.643 |
16080.283 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
2960.462 |
2644.064 |
2168.326 |
|
|
|
Other Expenses |
13704.924 |
10349.202 |
6250.838 |
|
|
|
TOTAL (B) |
16665.386 |
12993.266 |
8419.164 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10209.416 |
9463.377 |
7661.119 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2165.576 |
2005.762 |
1792.193 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8043.840 |
7457.615 |
5868.926 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
8192.232 |
8008.722 |
5824.339 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS
(G) |
68.960 |
129.881 |
171.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F-G) (H) |
(79.432) |
(680.988) |
(127.028) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
829.658 |
1170.508 |
4011.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(H-I) (J) |
(909.090) |
(1851.496) |
(4138.553) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.39 |
16.90 |
45.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(3.38) |
(8.24) |
(25.73) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.32) |
(3.49) |
(0.88) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.02) |
(0.19) |
(0.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.0004)
|
(0.004) |
(0.001) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.13 |
121.94 |
126.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.42 |
343.80 |
182.46 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS:
IN THE HIGH COURT OF DELHI AT NEW DELHI
|
O.M.P |
625/2010 |
|
|
|
Petitioners |
MC-ROTEM MELCO CONSORTIUM AND ORS |
Respondents |
DELHI METRO RAIL CORPORATION LIMITED |
|
Advocate. |
Mr. Neeraj K. Kaul, With Mr. Manu Nair, Mr. Arunav Patnaik and Mr. Arun Mohan, |
|
|
|
CORAM: |
HON'BLE MR. JUSTICE VIPUL SANGHI
|
||
|
O R D E R |
25.10.210 |
|
|
|
Issued notice to the respondent returnable
on 20th January, 2010. The arbitral record be requisitioned before
the next date. I am informed that the challenge to the
interim award is pending in this court in OMP no.304/2007. It is desirable
that both these suits are listed together.
Vld |
|||
UNSECURED LOANS
|
Particular |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from others |
31382.570 |
24122.470 |
|
Borrowing from government
semi-government bodies |
160374.460 |
153510.069 |
|
Total |
191757.030 |
177632.539 |
REGISTERED OFFICE CHANGE:
Registered office of the company has been
shifted from Metro Bhawan, Fire Brigade Lane, Barakhamba Road, New Delhi –
110001, Delhi, India to the present address w.e.f.19.12.2008
FINANCIAL HIGHLIGHTS
During the year,
the total revenue generated was Rs. 26874.800 Million inclusive of income from
operations, real estate, consultancy and other incomes as against Rs. 22456.600
Million in the previous year. The total expenditure incurred for the same
period was Rs. 16596.400 Million giving a profit before depreciation and
amortization expenses, finance cost and tax expenses amounting to Rs. 10278.400
Million. After adjustment of depreciation and amortization expenses and finance
cost amounting to Rs. 8192.200 Million and Rs. 2165.600 Million respectively, a
loss amounting to Rs. 79.400 Million was incurred during the year. Further,
after providing for wealth tax and deferred tax liability amounting to Rs.2.500
Million and Rs. 827.200 Million respectively, there was a net loss of Rs.
909.100 Million.
Traffic Operations
income of Rs. 15237.400 Million was earned during the year, against which
expenditure incurred; (exclusive of depreciation and amortization expenses and
finance cost) was Rs. 8571.600 Million yielding an operating profit of Rs.
6665.800 Million. As compared with the previous year, there is an increase in
the revenue from traffic operations by an amount of Rs. 2442.800 Million i.e.
an increase of 19.09%. During the financial year 2012-13 total ridership
catered was 702.949 lakh as compared to 607.663 lakh during the previous year
2011-12, an increase of 15.68% in the ridership. Further, maximum ridership of
2.305 lakh catered for any single day during 2012-13 against the maximum ridership
of 2.084 lakh for any single day during 2011-12.
In consultancy
area, the earnings was Rs. 342.300 Million as against Rs. 255.000 Million in
the previous year. During the year, the Company executed the External Project
Works of Rs. 8176.200 Million as against Rs. 5852.300 Million in the previous
year. During the year, the value of work done for Phase-III and NCR was Rs.
20604.400 Million and work completed was Rs. 8077.900 Million.
During the year an
amount of Rs. 16315.900 Million was received from the Government of India (GoI)
and Government of National Capital Territory of Delhi (GNCTD) towards equity.
As on 31st March, 2013 paid up capital amounting to Rs. 133846.400 Million has
been allotted to both the Governments. An amount of Rs. 4497.000 Million and
Rs. 1015.400 Million received from GNCTD and GOI respectively is available as
Share Application Money pending allotment as on 31st March, 2013.
Japan
International Cooperation Agency (JICA) loan amounting to Rs. 9047.100 Million
was received during the year. As on 31st March 2013, total amount of JICA loan
stood at Rs. 162557.000 Million. Further, during the year JICA loan amounting
to Rs. 1290.400 Million and interest amounting to Rs. 2319.000 Million had been
paid to GOI. Total repayment obligations of JICA loan up to the close of
financial year 2012-2013, aggregating to Rs. 14684.300 Million have been duly
met by the Company.
In addition to
Equity, Subordinate Debts of Rs. 2160.000 Million each from GOI and GNCTD
towards land acquisition for Phase-III and Rs. 2940.000 Million from GNCTD
towards Central Tax for Phase III were received during the year. Total
contribution against Subordinate Debts from GNCTD, HUDA, NOIDA and GOI as on
31st March 2013 stood at Rs. 31381.700 Million.
The Company
received grant of Rs. 3370.700 Million and Rs. 1079.900 Million from HUDA and
GOI respectively for extension of Metro to Faridabad. Further, grant of Rs.
3000.000 Million was received from Delhi Development Authority (DDA) for
Phase-III, Rs. 100.000 Million from NOIDA for Metro extension from Kalindikunj
to Botanical Garden, Rs. 217.500 Million from Delhi International Airport
Private Limited. (DIAL) for Airport Express Line, Rs. 14.000 Million from CISF
for construction of Girl's Hostel at Shastri Park and Rs. 44.800 Million from
GNCTD for purchase of Feeder Buses under Jawaharlal Nehru National Urban
Renewal Mission (JnNURM) Scheme.
CONTINGENT
LIABILITIES:
Claims against the
company not acknowledged as debts including foreign currency claim towards:
|
Particular |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Capital Works |
34119.969 |
15999.953 |
|
Land cases |
7753.449 |
8320.249 |
|
Others |
5244.557 |
5186.993 |
|
Disputed Income Tax Demand |
620.256 |
620.256 |
|
Demand raised by Employees State Insurance Corporation towards
liability of contractor. |
49.971 |
49.971 |
|
Disputed Service Tax Demand |
658.477 |
222.408 |
|
Disputed Central Excise Demand |
9.544 |
9.494 |
|
Demand raised by BSES Rajdhani Power Limited, BSES Yamuna Power
Limited and North Delhi Power Limited (DISCOMS) towards Electricity Tax. |
421.233 |
283.957 |
|
Amount deposited with DDA/MCD under protest on account of ground rent,
shown as recoverable |
55.690 |
62.144 |
|
Total |
48933.146 |
30755.425 |
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10145271 |
17/02/2009 |
4,000,000,000.00
|
Corporation Bank
|
Ansals
chamber-I,, Bhikaji Cama Place,, New Delhi |
A57498008 |
|
2 |
90051253 |
22/01/2005 |
1,000,000,000.00
|
CORPORATION BANK
|
BHIKAJI CAMA
PLACE, NEW DELHI, Delhi, INDIA |
- |
FIXED ASSETS
·
Leasehold
Land
·
Leasehold
Railway Land
·
Building
(Lease Hold)
·
Buildings
(Free Hold)
·
Plant And
Machinery
·
Rolling Stock
·
Signaling And
Telcom Equipments
·
Office
Equipments
·
Furniture And
Fixtures
·
Vehicles
·
Survey
Equipments
·
Safety
Equipments
·
Feeder Bus
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 records 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.62.13 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
63 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.