MIRA INFORM REPORT
|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACB (INDIA) LIMITED |
|
|
|
|
Formerly Known
As : |
ARYAN COAL BENEFICATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-102, Lower Ground Floor, New Multan Nagar, Surya Enclave, New Delhi
– 110056 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.03.1997 |
|
|
|
|
Com. Reg. No.: |
55-085837 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2380.057
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U10102DL1997PLC085837 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA06285G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA0043K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in Coal beneficiation and allied activities and
energy generation. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 64000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a flagship company of “Aryan Group” and was incorporated on
March 14, 1997 as a private limited company. Under the name Aryan Coal
Beneficiations Private Limited. Later on 18th September 2009, the
name of the company was changed to ACB (India) Private Limited. The company
was converted into a public limited company on October 1st, 2009
and its legal name was changed to its present name. It is an established
company having fine track record. The management has seen a better improvement in its sales volume as
well as net profitability during 2013. The company possesses a sound financial profile marked by decent
networth and healthy liquidity position. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of group’s established track and market leadership in the coal
beneficiation industry, the subject can be considered good for business
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 – 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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A+ (Long Term Rating) |
|
Rating Explanation |
Adequate degree of safety it carry low
credit risk. |
|
Date |
16.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 (Short Term Rating) |
|
Rating Explanation |
Highest degree of safety it carry lowest
credit risk. |
|
Date |
16.01.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
C-102, Lower Ground Floor, New Multan Nagar, Surya Enclave, New Delhi
– 110056, India |
|
Tel. No.: |
91-11-25291566/67 |
|
Fax No.: |
91-11-25291567 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
7th Floor, Corporate Tower, Ambience Mall, N.H. -8, Gurgaon
– 122001, Haryana, India |
|
Tel. No.: |
91-124-2719000 |
|
Fax No.: |
91-124-2719185 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at : ·
Bilaspur ·
Maharashtra ·
Bangalore |
|
|
|
|
Power Plants : |
Located at : ·
Chhattisgarh |
|
|
|
|
Coal
Beneficiation Plants : |
Located at : ·
Chhattisgarh ·
Maharashtra ·
Orissa ·
Andhra Pradesh |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Rudra Sen Sindhu |
|
Designation : |
Whole-time director |
|
Address : |
23, Rajdoot Marg, Chanakyapuri, New Delhi – 110021, India |
|
Date of Birth/Age : |
02.02.1956 |
|
Date of Appointment : |
14.03.1997 |
|
DIN No.: |
00006999 |
|
|
|
|
Name : |
Mr. Vir Sen Sindhu |
|
Designation : |
Managing director |
|
Address : |
1, Garud Nagar, Gevra Project, Korba – 492452, Chhattisgarh, India |
|
Date of Birth/Age : |
03.12.1960 |
|
Date of Appointment : |
14.03.1997 |
|
DIN No.: |
00034773 |
|
|
|
|
Name : |
Mr. Kuldeep Singh Solanki |
|
Designation : |
Director |
|
Address : |
B-9/16, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
02.01.1956 |
|
Date of Appointment : |
19.12.1997 |
|
DIN No.: |
00009212 |
|
|
|
|
Name : |
Mr. Ajay Mrig |
|
Designation : |
Director |
|
Address : |
898, Sector-14, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
01.06.1962 |
|
Date of Appointment : |
10.12.2011 |
|
DIN No.: |
00026593 |
|
|
|
|
Name : |
Vrit Pal Sindhu |
|
Designation : |
Whole-time director |
|
Address : |
23, Rajdoot Marg, Chanakyapuri, New Delhi – 110021, India |
|
Date of Birth/Age : |
05.02.1965 |
|
Date of Appointment : |
01.03.2005 |
|
DIN No.: |
00033480 |
|
|
|
|
Name : |
Mr. Harish Ahuja |
|
Designation : |
Director |
|
Address : |
22, Amrita Shergill Marg, New Delhi – 110003, India |
|
Date of Birth/Age : |
10.09.1995 |
|
Date of Appointment : |
28.03.2011 |
|
DIN No.: |
00047548 |
|
|
|
|
Name : |
Mr. Surinder Singh Kohli |
|
Designation : |
Director |
|
Address : |
J-170, Rajouri Garden, New Delhi – 110027, India |
|
Date of Birth/Age : |
10.04.1945 |
|
Date of Appointment : |
28.03.2011 |
|
DIN No.: |
00169907 |
|
|
|
|
Name : |
Mr. Niten Malhan |
|
Designation : |
Nominee director |
|
Address : |
Flat No. 2705, 27th Floor, North Tower, The Imperial
Building, MP Mill Compound, Tardeo, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
02.08.1971 |
|
Date of Appointment : |
30.11.2006 |
|
DIN No.: |
00614624 |
|
|
|
|
Name : |
Mr. Samay Ram |
|
Designation : |
Director |
|
Address : |
381, Sector – 5, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
02.08.1939 |
|
Date of Appointment : |
02.08.2011 |
|
DIN No.: |
00663816 |
|
|
|
|
Name : |
Mr. Brij Behari Tandon |
|
Designation : |
Director |
|
Address : |
J-238, First Floor, Saket, New Delhi – 110017, India |
|
Date of Birth/Age : |
30.06.1941 |
|
Date of Appointment : |
28.03.2011 |
|
DIN No.: |
00740511 |
|
|
|
|
Name : |
Mr. Charan Das Arha |
|
Designation : |
Director |
|
Address : |
4 IAS Quater, Kundanbagh Begum Pet, Hyderabad – 500016, Andhra
Pradesh, India |
|
Date of Birth/Age : |
02.07.1945 |
|
Date of Appointment : |
28.03.2011 |
|
DIN No.: |
02226619 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Kumar Sharma |
|
Designation : |
Secretary |
|
Address : |
771, Neelkanth Apartment, Sector – 13, Rohini, New Delhi – 110085,
India |
|
Date of Birth/Age : |
13.04.1956 |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AAXPS7605Q |
MAJOR SHAREHOLDERS
As on: 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
21.92 |
|
Bodies corporate |
12.27 |
|
Directors or relatives of Directors |
63.59 |
|
Other top fifty shareholders |
2.22 |
|
Total |
100.00 |
%20LIMITED%20-%20255855%2022-Feb-2014_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in Coal beneficiation and allied activities and
energy generation. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, Delhi, India · Ing Vysya Bank Limited, Narian Manzil,Ground Floor,Shop No. G1 To G5, I Floor, Shop No.1001 To 1007,Barakhamba Road,, New Delhi - 110001, Delhi, India · Indusind Bank Limited, Dr. Gopal Das Building, 28, Barakhamba Road, New Delhi - 110001, Delhi, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, DLF Tower, Gurgaon – 122002,
Haryana, India |
|
PAN No.: |
AAIFB0630K |
|
|
|
|
Subsidiary company: |
· ACB (India) Coal Methane Private Limited CIN No.: U11100DL2013PTC248419 · ACB (India) Power Limited CIN No.: U40101DL2010PLC206025 · Aryan Clean Coal Technologies Private Limited CIN No.: U29199DL2003PTC122193 · Aryan Energy Private Limited CIN No.: U40102DL2001PTC134230 · Connoiseur Resources Limited · Kartikay Coal Washeries Private Limited CIN No.: U10200DL2002PTC115155 · TRN Energy Private Limited · Spectrum Coal and Power Limited CIN No.: U10100DL1996PLC251093 |
|
|
|
|
Joint venture |
Cellcap Securities |
|
|
|
|
Associates : |
· Maruti Clean Coal And Power Limited CIN No.: U24292CT1999PLC013364 |
|
|
|
|
Other Related
Parties : |
· Aryan Ispat and Power Private Limited CIN No.: U27102DL2003PTC259757 · Hari Bhoomi Communications Private Limited CIN No.: U64204DL2007PTC163105 · Indus Compuquest Private Limited CIN No.: U74899DL2000PTC105646 · Indus Portfolio Private Limited CIN No.: U67120HR1992PTC034972 · Param Mitra Coal Resources Pte Limited · Pragati Vanijaya Limited CIN No.: L51909DL1985PLC020779 · Sainik Automobiles · Sainik Mining and Allied Services Limited CIN No.: U34102DL1989PLC034982 · Sainik Transport Shyam Indus Power Solutions Private Limited CIN No.: U74140DL2004PTC127124 · Sindhu Realtors Limited CIN No.: U45201DL2002PLC117866 · Sindhu Trade Links Limited CIN No.: L67120DL1992PLC121695 · V V Transport |
CAPITAL STRUCTURE
As on: 31.03.2013
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 |
|
|
|
|
|
|
238005728 |
Equity Shares |
Rs.10/- each |
Rs.2380.057
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2380.057 |
2380.057 |
2380.057 |
|
(b) Reserves & Surplus |
13627.390 |
11143.777 |
9621.461 |
|
(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) |
16007.447 |
13523.834 |
12001.518 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9212.552 |
10433.601 |
7573.395 |
|
(b) Deferred tax liabilities (Net) |
1045.989 |
401.967 |
164.616 |
|
(c) Other long term
liabilities |
251.747 |
292.311 |
1138.787 |
|
(d) long-term
provisions |
68.438 |
49.059 |
41.923 |
|
Total Non-current
Liabilities (3) |
10578.726 |
11176.938 |
8918.721 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
3674.953 |
2220.437 |
1242.234 |
|
(b) Trade
payables |
665.406 |
542.048 |
624.158 |
|
(c) Other
current liabilities |
3112.980 |
2234.662 |
2096.381 |
|
(d) Short-term
provisions |
124.456 |
139.057 |
143.987 |
|
Total Current
Liabilities (4) |
7577.795 |
5136.204 |
4106.760 |
|
|
|
|
|
|
TOTAL |
34163.968 |
29836.976 |
25026.999 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
16048.807 |
9967.118 |
3007.370 |
|
(ii)
Intangible Assets |
4.174 |
2.871 |
1.457 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
10725.233 |
|
(iv)
Intangible assets under development |
1256.577 |
6590.695 |
0.000 |
|
(b) Non-current Investments |
8754.744 |
6925.405 |
5111.998 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1305.231 |
675.420 |
425.240 |
|
(e) Other
Non-current assets |
320.897 |
1035.599 |
55.648 |
|
Total Non-Current
Assets |
27690.430 |
25197.108 |
19326.946 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1410.282 |
1182.905 |
1111.360 |
|
(c) Trade
receivables |
3018.543 |
2179.747 |
1536.570 |
|
(d) Cash
and cash equivalents |
1208.853 |
808.945 |
1891.599 |
|
(e)
Short-term loans and advances |
793.079 |
444.216 |
1123.402 |
|
(f) Other
current assets |
42.781 |
24.042 |
37.122 |
|
Total Current
Assets |
6473.538 |
4639.855 |
5700.053 |
|
|
|
|
|
|
TOTAL |
34163.968 |
29836.976 |
25026.999 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13434.896 |
9104.993 |
7769.233 |
|
|
|
Other Income |
225.747 |
48.860 |
182.007 |
|
|
|
TOTAL (A) |
13660.643 |
9153.853 |
7951.240 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2290.328 |
2081.733 |
2377.411 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(155.184) |
20.360 |
(443.776) |
|
|
|
Employee benefit expense |
719.989 |
520.958 |
460.837 |
|
|
|
Other expenses |
4820.696 |
3164.714 |
2994.098 |
|
|
|
TOTAL (B) |
7675.829 |
5787.765 |
5388.570 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5984.814 |
3366.088 |
2562.670 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1595.835 |
766.349 |
401.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4388.979 |
2599.739 |
2161.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
898.653 |
461.078 |
329.506 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3490.326 |
2138.661 |
1831.851 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
887.336 |
496.968 |
480.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2602.990 |
1641.693 |
1351.773 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7823.797 |
6301.481 |
5087.742 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
119.003 |
119.003 |
118.767 |
|
|
|
Tax on Dividend |
0.374 |
0.374 |
19.267 |
|
|
BALANCE CARRIED
TO THE B/S |
10307.410 |
7823.797 |
6301.481 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Carbon credit receipts |
0.000 |
2.784 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
2.784 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores and spares |
12.364 |
6.796 |
0.484 |
|
|
|
Capital goods |
110.640 |
48.063 |
22.047 |
|
|
|
Purchase of coal |
0.572 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
123.576 |
54.859 |
22.531 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.94 |
6.90 |
1.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
19.05
|
17.93 |
17.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
25.98
|
23.49 |
23.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.45
|
13.10 |
19.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.81
|
0.94 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85
|
0.90 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
2380.057 |
2380.057 |
2380.057 |
|
Reserves & Surplus |
9621.461 |
11143.777 |
13627.390 |
|
Net
worth |
12,001.518 |
13,523.834 |
16,007.447 |
|
|
|
|
|
|
long-term borrowings |
7573.395 |
10433.601 |
9212.552 |
|
Short term borrowings |
1242.234 |
2220.437 |
3674.953 |
|
Total
borrowings |
8,815.629 |
12,654.038 |
12,887.505 |
|
Debt/Equity
ratio |
0.735 |
0.936 |
0.805 |
%20LIMITED%20-%20255855%2022-Feb-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
7769.233 |
9104.993 |
13434.896 |
|
|
|
17.193 |
47.555 |
%20LIMITED%20-%20255855%2022-Feb-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
7769.233 |
9104.993 |
13434.896 |
|
Profit |
1351.773 |
1641.693 |
2602.99 |
|
|
17.40% |
18.03% |
19.37% |
%20LIMITED%20-%20255855%2022-Feb-2014_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Term loans |
3179.635 |
2220.437 |
|
Term loans |
495.318 |
0.000 |
|
Total |
3674.953 |
2220.437 |
FINANCIAL PERFORMANCE
Income
The total income of the Company for the year increased by 49.23% to Rs.13660.643 million from Rs. 9153.853 million during the previous year.
Profitability
The profit after tax the Company for the year increased by 58.56% to Rs. 2,602.990 million as compared to Rs. 1641.693 million during previous year.
Background
The Company is a flagship company of Aryan Group. The Company was incorporated on 14 March 1997. Primary business of the Company is beneficiation of coal and sale of coal. The Company has set-up 6 coal washeries in Chhattisgarh, Maharashtra and Orissa.
Besides coal beneficiation business, the Company is into power generation through 30 MW and 270 MW thermal power plants and 15 MW wind mill plant. Power plant operations are mainly supported by Power Purchase Agreements (PPAs) with respective State Electricity Boards (SEBs).
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10447718 |
13/09/2013 |
1,000,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B84340421 |
|
2 |
10453360 |
31/08/2013 |
500,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL,GROUND FLOOR,SHOP NO. G1 TO G5, I FLOOR,SHOP NO.1001 TO 1007, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B86792330 |
|
3 |
10438266 |
01/08/2013 * |
1,150,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B81319717 |
|
4 |
10416967 |
22/02/2013 |
750,000,000.00 |
AXIS BANK LTD. |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B72334022 |
|
5 |
10416349 |
07/02/2013 |
500,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
One Forbes, Dr. V.
B. Gandhi Marg, Fort, Mumbai, |
B72179823 |
|
6 |
10416322 |
07/02/2013 |
4,160,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B72173222 |
|
7 |
10388355 |
06/11/2012 |
250,000,000.00 |
DBS Bank Ltd. |
Birla Tower, Upper Ground Floor, 25, Barakhamba Road, New Delhi, Delhi - 110001, INDIA |
B62736905 |
|
8 |
10375229 |
10/07/2013 * |
4,660,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building,Ground Floor,17,R.Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, INDIA |
B83810440 |
|
9 |
10318642 |
22/11/2011 |
1,000,000,000.00 |
STANDARD CHARTERED
BANK (Acting as an Security Age |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B25683772 |
|
10 |
10297550 |
13/11/2013 * |
1,750,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B89022081 |
|
11 |
10254955 |
11/06/2013 * |
1,750,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B78653409 |
|
12 |
10220279 |
04/04/2013 * |
500,000,000.00 |
YES BANK LIMITED |
9th Floor,Nehru Centre,Discovery of India, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra - 400018, INDIA |
B73249682 |
|
13 |
10198062 |
25/10/2013 * |
1,920,000,000.00 |
AXIS BANK LTD. |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B88301551 |
|
14 |
10169705 |
29/12/2012 * |
1,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B65220873 |
|
15 |
10159948 |
19/06/2013 * |
710,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B77613511 |
|
16 |
10121383 |
19/05/2009 * |
650,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
A65476947 |
|
17 |
10125538 |
10/05/2013 * |
5,540,000,000.00 |
Axis Bank Limited |
Axis House 02nd
Floor, E Wing, P. B. Marg, Worli, |
B75388835 |
|
18 |
10020486 |
04/06/2013 * |
900,000,000.00 |
Standard Chartered Bank |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B78121647 |
|
19 |
90044787 |
24/06/2005 |
7,500,000.00 |
ABN AMRO BANK |
N.V. DLF CENTRE,
SANSAD MARG, NEW DELHI, Delhi - |
- |
|
20 |
90044607 |
04/03/2005 |
6,000,000.00 |
HDFC BANK HOUSE |
SENAPATI BAPAT MARG, LOWER PAREL (W), MUMBAI, Maharashtra - 400013, INDIA |
- |
|
21 |
90043740 |
31/03/2009 * |
500,000,000.00 |
INDIAN OVERSEAS BANK |
PASCHIM VIHAR, NEW DELHI, NEW DLHI, Delhi - 110063, INDIA |
A61710521 |
* Date of charge modification
FIXED ASSETS:
- Software’s
- Freehold Land
- Factory
Building
- Building
- Plant and
Machinery
- Railway
Sidings
- Computers
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
PRESS
RELEASES:
ACB INDIA FILES IPO PAPERS WITH SEBI
Jun 26, 2013
New Delhi-based ACB (India) has filed draft offer documents with SEBI on June 18, 2013 to list its equity shares on the NSE and the BSE.
ACB (India) Limited, along with its subsidiaries and associates, is largest and most efficient coal washery operator in the private sector with an aggregate designed beneficiation capacity, on a proportional basis, of 62.34 million tons per annum.
ACB's beneficiation operations are spread over 16 locations in India in the major coal bearing states of Chhattisgarh, Orissa, Maharashtra and Andhra Pradesh and include the largest coal beneficiation plant in India in Dipka (Chhattisgarh), with a designed capacity of 12.00 million tons per annum. The Company’s core business is coal beneficiation and power generation. Company's Corporate Office is in Gurgaon, and also have offices at various other locations in India.
ACB INDIA MAY RAISE RS 10000.000 MILLIONS THROUGH IPO, OFS THIS FISCAL
Jan 21 2013
Coal washeries operator ACB India is planning to raise up to Rs 10000.000 Millions through initial public issue and offer for sale (OFS) routes in this fiscal.
The company has filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi).
Industry sources said ACB India is likely to raise Rs 5750.000 Millions through primary issue and sub shares and may also make an offer-for-sale for approximately 12.5 per cent of the existing capital of the company, industry sources said.
ACB India is expecting to mop up over Rs 10000.000 Millions through IPO, sources said.
ACB India may also commission two power projects of total 900 MW power generation capacity in Chhattisgarh by 2014, entailing total investment of about Rs 40000.000 Millions, they said.
The company has already pumped about Rs 11000.000 Millions in both the plants, they added.
The coal linkages to these power plants would be supplied by Coal India Limited
The company had forayed into power sector in 2007 with the commissioning of its first 30 MW power project in Chhattisgarh.
The company had clocked a turnover of Rs 13500.000 Millions and profit after tax of Rs 2900.000 Millions in FY2012. In the first half of the current fiscal its turnover was Rs 8000.000 Millions and PAT at Rs 1950.000 Millions.
COAL WASHERY FIRM ACB (INDIA) RE-FILES FOR IPO; WARBURG PINCUS TO
PART-EXIT
Coal
beneficiation and power generation firm ACB (India) has re-filed its draft red
herring prospectus (DRHP) with the market regulator for a public offering which
will see the company raise Rs.4150.000 Millions ($70 million) besides an offer
for sale by existing investor Warburg Pincus. ACB plans a secondary sale of
38.8 million shares, a chunk which will be sold by Warburg Pincus besides some
promoters.
Compared
with the previous DRHP filed in June 2011, ACB has reduced the size of the
primary issue and increased the size of the secondary issue. Two years ago, it
was looking to raise Rs.5750.000 Millions which has been pruned by around 28
per cent.
Moreover,
previously Warburg Pincus was to sell around a third of its 21.9 per cent
stake; as per the new proposal, it is looking to sell over half of its holding.
Warburg
Pincus invested over Rs.3200.000 Millions through a mix of preferential allotment,
rights issue and secondary purchases between 2008 and 2009. It owns around 21.9
per cent stake in ACB and is selling a little over half of its stake (12.6 per
cent of pre-issue capital) as part of the offer for sale. Niten Malhan
represents the private equity firm on the board of ACB.
Besides
the PE investor, the promoters who hold over 75 per cent stake in the company
are also selling some shares.
As of
January 31, 2013, ACB was the largest coal beneficiation company in India, with
an aggregate design beneficiation capacity, on a proportional basis, of 62.34
million tonnes per annum. The company plans to increase its aggregate design
beneficiation capacity to 93.61 million tonnes per annum by the end of FY17.
ACB
also has a presence in the power sector with an operational capacity of 282 MW.
It has invested in two power projects with an aggregate design capacity of 650
MW with five power projects with an aggregate design capacity of 3,080 MW at
various stages of construction, implementation and development.
ACB
reported a 5.85 per cent increase in total income to Rs 1,358 crore with profit
after tax up 164 per cent to Rs.2730.000 Millions in FY12 compared with FY11.
In FY12, coal washing contributed 83 per cent of the revenues of the company
while the rest came from power generation. For the nine-month period ended
December 31, 2012, ACB had income of Rs 1,302 crore with profit after tax of
Rs.2770.000 Millions.
It
plans to use the funds from the IPO to finance construction and development of
the second phase of 30 MW blended coal-based power project at Chakabura,
Chhattisgarh and invest in subsidiary TRN Energy, which is developing a 2 x 300
MW coal-based thermal power plant in the Raigarh District, Chhattisgarh.
IDFC
Capital, Edelweiss Capital, JP Morgan India and Macquarie Capital Advisors
(India) are the global coordinators for the issue while Axis Bank, ICICI
Securities and Yes Bank are the book running lead managers to the issue.
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.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
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 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
65 |
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.