.
MIRA
INFORM REPORT
|
Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT STATE PETROLEUM CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
GSPC Bhavan, Behind Udyog Bhavan, Sector-11, Gandhinagar - 382011, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.01.1979 |
|
|
|
|
Com. Reg. No.: |
04-003281 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2357.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209GJ1979SGC003281 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Exploration and Production Activities and Gas Trading and also Wind Power Generation. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (76) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 258890000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a state Government Company. It is a well-established company having a good track record. Financially company seems to be strong. Liquidity position is good. The company gets strong support from the government. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities AA+ |
|
Rating Explanation |
Having high degree of safety and very low
credit risk. |
|
Date |
October 30, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
October 30, 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.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [91-79-66701001]
LOCATIONS
|
Registered/ Corporate Office : |
GSPC Bhavan, Behind Udyog Bhavan, Sector-11, Gandhinagar - 382011,
Gujarat, India |
|
Tel. No.: |
91-79-55701532/ 28501001/ 55701005/ 66701001 |
|
Fax No.: |
91-79-23236375/ 55701331 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Project Office 1 : |
GSPC, Transit House/ Office, Near Light House, Village
Hazira, District |
|
Tel. No.: |
91-261-2870311/ 2870314/ 2870669/ 2870670 |
|
Fax No.: |
91-261-2870668 |
|
|
|
|
Project Office 2 : |
STC Ware House Complex, Near MMTC, Ware House New Port Godown Area, Kakinada – 533007, Andhra Pradesh, India |
|
Tel. No.: |
91-884-2346887/ 2346997 |
|
Fax No.: |
91-884-2346447 |
|
|
|
|
Delhi Office : |
Room No. 339/ 340, A Wing, 2nd Floor, August Kranti Bhavan, Bhikaji Kama Palace, New Delhi - 110066, India |
|
Tel. No.: |
91-11-26711001/ 26711004 |
|
Fax No.: |
91-11-26711003 |
DIRECTORS
As on 31.03.2013
|
Name : |
Dr. Varesh Sinha, IAS |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Dr. Hasmukh Adhia, IAS |
|
Designation : |
Director (w.e.f 21st March, 2013) |
|
|
|
|
Name : |
Mr. Y. B. Sinha |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. N. Ravichandran |
|
Designation : |
Director |
|
|
|
|
Name : |
Achalkumar Kishor Chand Joti, IAS |
|
Designation : |
Chairman (Up to 17th March, 2013) |
|
Address : |
Government Bunglow No. 26, Dafnala, Sahibaug, Ahmedabad, Gujarat, India
|
|
Date of Birth/Age : |
23.01.1953 |
|
Date of Appointment : |
08.03.2010 |
|
Din No.: |
01468434 |
|
|
|
|
Name : |
Mr. Tapan Ray, IAS |
|
Designation : |
Managing Director |
|
Address : |
K-16, Sector 20, Gandhinagar, Gujarat, India |
|
Date of Birth/Age : |
09.09.1957 |
|
Date of Appointment : |
26.12.2006 |
|
Din No.: |
00728682 |
|
|
|
|
Name : |
Mr. Kuniyil Kailashnathan, IAS |
|
Designation : |
Director (Retd.) |
|
Address : |
Principal Secretary to Hon’ble CM, Block No. 1, Fifth Floor, Sachivalaya,
Gandhinagar, Gujarat, India |
|
Date of Birth/Age : |
25.05.1953 |
|
Date of Appointment : |
26.12.2006 |
|
Din No.: |
00587901 |
|
|
|
|
Name : |
Mr. D. J Pandian, IAS |
|
Designation : |
Director |
|
Address : |
KH-214, Sector 19, Gandhinagar-382019, Gujarat, India |
|
Date of Birth/Age : |
11.05.1955 |
|
Date of Appointment : |
30.10.2001 |
|
Din No.: |
00015443 |
|
|
|
|
Name : |
Mr. Urjit Ravindra Patel |
|
Designation : |
Director (Up to 17th March, 2013) |
|
Address : |
B-1, Harbour Heights, Flats 3 F, NA, Sawant Road, Collaba, Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
28.10.1963 |
|
Date of Appointment : |
26.12.2006 |
|
Din No.: |
00175210 |
|
|
|
|
Name : |
Mr. Tirumalachetty Harinarayana
|
|
Designation : |
Director |
|
Address : |
P. No. 125, Suryanagar, RR District, Uppal-500039, Andhra Pradesh,
India |
|
Date of Birth/Age : |
10.06.1954 |
|
Date of Appointment : |
21.12.2009 |
|
Din No.: |
02902872 |
|
|
|
|
Name : |
Mr. M.M. Shrivastava, IAS |
|
Designation : |
Director (Retd.) |
|
Address : |
K-503, Sector 20, Gandhinagar, Gujarat, India |
|
Date of Birth/Age : |
23.07.1952 |
|
Date of Appointment : |
20.12.2008 |
|
Din No.: |
02190050 |
|
|
|
|
Name : |
Mr. Suresh Mathur |
|
Designation : |
Director (Up to 12th July, 2012) |
|
Address : |
F-41, Green Park, New Delhi, India |
|
Date of Birth/Age : |
25.07.1940 |
|
Date of Appointment : |
26.12.2006 |
|
Din No.: |
00075227 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Dave |
|
Designation : |
Company Secretary, DGM (S and L) |
|
Address : |
Plot No. 666/2, Panchvati Park, Sector-23, Gandhinagar-382023,
Gujarat, India |
|
Date of Birth/Age : |
13.02.1975 |
|
Date of Appointment : |
01.11.2008 |
|
Pan No.: |
AEHPD3040G |
|
|
|
|
Name : |
Mr. Samir Biswal |
|
Designation : |
Director (Exploration) |
|
|
|
|
Name : |
Mr. Padam Singh |
|
Designation : |
Director (Operations) |
|
|
|
|
Name : |
Mr. Manish Verma |
|
Designation : |
ED (F & A) |
|
|
|
|
Name : |
Mr. Alok Chaudhuri |
|
Designation : |
SEVP (E & C) |
|
|
|
|
Name : |
Mr. Rakesh Johari |
|
Designation : |
President (Field Services) |
|
|
|
|
Name : |
Mr. M Y Farooqui |
|
Designation : |
GM (Overseas Operation) |
|
|
|
|
Name : |
Mr. R N Pandey |
|
Designation : |
GM ( R and D) |
|
|
|
|
Name : |
Mr. Jayesh Dave |
|
Designation : |
GM (Accounts) |
|
|
|
|
Name : |
Mr. Vinay Kumar |
|
Designation : |
ED (HR) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Names of Shareholders |
No. of Shares |
|
Government of Gujarat |
2068949795 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Exploration and Production Activities and Gas Trading and also Wind Power Generation. |
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|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
Ø Adani Energy (Gujarat) Limited Ø Arvind Mills Limited Ø Essar Steel Limited Ø GSPC Gas Company Limited Ø Gujarat Alkalies and Chemicals Limited Ø Gujarat Gas Company Limited Ø Gujarat Industries Power Corporation Ø Gujarat Paguthan Energy Corporation Ø Gujarat State Electricity Corporation Ø Gujarat State Energy Generation Limited Ø Indian Farmers Federation Company Ø Indian Oil Corporation Limited Ø National Thermal Power Corporation Ø Sabarmati Gas Limited Ø Alok Industries Limited Ø Reliance
Industries Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Ø Indian Bank Ø Bank of Baroda Ø Bank of
Maharashtra Ø Canara Bank Ø Indian Overseas
Bank Ø State Bank of
India Ø Corporation Bank
Ø Allahabad Bank Ø Dena Bank Ø Punjab and Sind
Bank Ø ICICI Bank
Limited Ø Exim Bank Ø IDBI Bank
Limited Ø Union Bank Ø Indian Bank Ø Vijaya Bank Ø Axis Bank Ø Indusind Bank
Limited Ø UCO Bank Ø Yes Bank Ø Syndicate Bank Ø IDBI Bank Ø Bank of India Ø Oriental Bank of
Commerce Ø Union Bank of
India Ø HDFC Bank
Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory
Auditors : |
|
|
Name : |
Talati and Talati Chartered Accountants |
|
Address : |
Ambica Chambers, Near Old High Court, Navrangpura, Ahmedabad, Gujarat,
India |
|
PAN
No. : |
AAAFT4520A |
|
|
|
|
Internal Auditor : |
KPMG |
|
|
|
|
Associate
Companies : |
Ø Gujarat State
Energy Generation Limited Ø Sabarmati Gas
Company Limited |
|
|
|
|
Joint Ventures : |
Ø Niko Resources
Limited Ø Oilex NL
Holdings (India) Limited Ø Oilex NL Ø Hindustan Oil and
Exploration Company Limited Ø Oil and Natural
Gas Corporation Limited Ø Heramec Limited Ø Indian Oil
Corporation Limited Ø GAIL (India)
Limited Ø Oil India
Limited Ø Jubilant Oil and
Gas Private Limited Ø Geo Global
Resources (Barbados) Inc. Ø Jubilant
Securities Private Limited Ø Videocon
Industries Limited Ø Great Artesian
Oil and Gas Limited Ø Oilex Limited Ø Oilex (JPDA
06/103) Limited Ø Global Energy Ø Bharat Petro
Resources JPDA Limited Ø Japan Energy
Corporation Ø Pan Pacific
Petroleum NL Ø Apache Energy
Limited Ø Oilex Ø BPCL Ø HPCL Ø Sasol Petroleum Ø Hindustan
Petroleum Corporation Limited Ø Petrogas E&P
LLC Ø Ensearch
Petroleum Private Limited Ø Hallworthy
Shipping Limited SA Ø Nitin Fire
Protection Industries Limited Ø HPCL – Mittal
Energy Limited Ø Bengal Energy
Inc Ø NTPC Limited Ø Adani Welspun Exploration
Limited Ø Jubilant Enpro
Limited Ø Jubilant Enpro
Private Limited Ø Alkor Petro
Limited Ø Western Drilling
Contractors Private Limited Ø Oil India
Limited Ø Essar Oil
Limited |
|
|
|
|
Subsidiaries : |
Ø Gujarat State
Petronet Limited [L40200GJ1998SGC035188] Ø GSPC Pipavav
Power Company Limited [U40100GJ2006SGC047783] Ø GSPC LNG Limited
[U23203GJ2007SGC050115] Ø Guj Info Petro
Limited [U72900GJ2001PLC039162] Ø GSPC Gas Company
Limited [U23100GJ1999SGC035573] Ø GSPC (JPDA)
Limited [U23201GJ2006SGC049229] Ø GSPC Marginal Fields
Limited Ø GSPL India
Gasnet Limited Ø GSPL India
Transco Limited Ø GSPC
Distribution Networks Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.1/- each |
Rs.3000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2357819820 |
Equity Shares |
Rs.1/- each |
Rs.2357.800 Millions |
|
|
|
|
|
After 12.11.2013
Authorised Capital : Rs.3000.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 2407.202
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 |
2357.800 |
2296.100 |
2234.400 |
|
(b) Reserves & Surplus |
58366.500 |
46031.100 |
34994.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
4000.000 |
0.000 |
5000.000 |
|
Total
Shareholders’ Funds (1) + (2) |
64724.300 |
48327.200 |
42228.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
106789.200 |
55167.100 |
40144.800 |
|
(b) Deferred tax liabilities (Net) |
1170.700 |
919.000 |
613.500 |
|
(c) Other long term liabilities |
132.100 |
235.700 |
393.000 |
|
(d) long-term provisions |
520.900 |
520.900 |
519.900 |
|
Total Non-current Liabilities (3) |
108612.900 |
56842.700 |
41671.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
27488.200 |
37900.100 |
29803.200 |
|
(b) Trade payables |
6469.500 |
9424.100 |
6677.700 |
|
(c) Other current
liabilities |
11059.300 |
10462.300 |
3723.700 |
|
(d) Short-term provisions |
1921.500 |
1178.200 |
800.300 |
|
Total Current Liabilities (4) |
46938.500 |
58964.700 |
41004.900 |
|
|
|
|
|
|
TOTAL |
220275.700 |
164134.600 |
124904.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7961.300 |
8807.700 |
7744.900 |
|
(ii) Intangible Assets |
71.000 |
76.000 |
87.800 |
|
(iii) Capital
work-in-progress |
172437.700 |
123800.200 |
94341.700 |
|
(iv)
Intangible assets under development |
2.900 |
1.200 |
4.300 |
|
(b) Non-current Investments |
5067.000 |
4592.500 |
4509.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15144.500 |
13062.900 |
10401.000 |
|
(e) Other Non-current assets |
1509.900 |
778.900 |
699.100 |
|
Total Non-Current Assets |
202194.300 |
151119.400 |
117788.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
65.200 |
2300.500 |
1528.600 |
|
(c) Trade receivables |
7346.800 |
5833.700 |
3184.300 |
|
(d) Cash and cash
equivalents |
6310.500 |
2579.800 |
384.700 |
|
(e) Short-term loans and
advances |
4272.700 |
2284.000 |
2001.500 |
|
(f) Other current assets |
86.200 |
17.200 |
17.000 |
|
Total Current Assets |
18081.400 |
13015.200 |
7116.100 |
|
|
|
|
|
|
TOTAL |
220275.700 |
164134.600 |
124904.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
102501.500 |
84897.200 |
47702.400 |
|
|
|
Other Income |
536.400 |
450.800 |
357.500 |
|
|
|
TOTAL |
103037.900 |
85348.000 |
48059.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock in trade |
80525.800 |
67356.000 |
39700.800 |
|
|
|
Changes in inventories of finished goods, stock in process and stock
in trade |
2244.000 |
(771.800) |
(1497.800) |
|
|
|
Employee benefits expenses |
127.700 |
84.200 |
85.000 |
|
|
|
Other expenses |
5031.500 |
4141.400 |
3388.300 |
|
|
|
Exploration cost written off |
516.000 |
3393.500 |
629.600 |
|
|
|
Prior period adjustment |
6.000 |
1.600 |
2.900 |
|
|
|
TOTAL |
88451.000 |
74204.900 |
42308.800 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
14586.900 |
11143.100 |
5751.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
933.700 |
629.700 |
417.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
13653.200 |
10513.400 |
5333.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1181.800 |
1097.900 |
1301.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
12471.400 |
9415.500 |
4032.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4005.700 |
3338.100 |
802.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
8465.700 |
6077.400 |
3229.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3489.600 |
2945.900 |
3234.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5000.000 |
5000.000 |
3000.000 |
|
|
|
Transfer to debenture redemption reserve |
483.200 |
0.000 |
0.000 |
|
|
|
Dividend |
1148.300 |
459.200 |
445.800 |
|
|
|
Tax on Dividend |
195.200 |
74.500 |
72.300 |
|
|
BALANCE CARRIED
TO THE B/S |
5128.600 |
3489.600 |
2945.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Take or Pay (Cargo Cancellation Charges) |
0.000 |
282.200 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
282.200 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
2.700 |
0.000 |
|
|
|
Traded Goods |
20293.700 |
15877.300 |
10790.200 |
|
|
|
Incurred by Joint Ventures |
11.100 |
0.500 |
0.000 |
|
|
TOTAL IMPORTS |
20304.800 |
15880.500 |
10790.200 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.69 |
2.72 |
1.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.22
|
7.121 |
6.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.17
|
11.09 |
8.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.16
|
26.34 |
15.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.19 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.07
|
0.89 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.38
|
0.22 |
0.17 |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF GUJARAT SPECIAL CIVIL APPLICATION No. 5159 of 2010 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Last Listing
Date: 18/02/2011
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office Details
Linked Matters
Court
Proceedings
Available Orders
Stake Holders STATE OF GUJARAT |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Non-convertible debenture |
60000.000 |
0.000 |
|
Term loan from GSFS |
0.000 |
10000.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
From banks (Loans repayable on demand) |
27488.200 |
32900.100 |
|
From GSFS |
0.000 |
5000.000 |
|
|
|
|
|
Total |
87488.200 |
47900.100 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10428386 |
28/03/2013 |
2,499,992,100.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate,
MUMBAI, Maharashtra - 400001, INDIA |
B73633794 |
|
2 |
10369337 |
17/08/2012 * |
11,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra -
400005, INDIA |
B55810717 |
|
3 |
10285714 |
25/03/2011 |
30,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra -
400005, INDIA |
B12366951 |
|
4 |
10120280 |
21/05/2012 * |
13,807,625,000.00 |
STATE BANK OF INDIA AS SECURITY TRUSTEE REPRESENTI |
CORPORATE ACCOUNTS GROUP, 58, SHRIMALI SOCIETY, N |
B40310401 |
|
5 |
80006012 |
28/06/2013 * |
35,000,000,000.00 |
STATE BANK OF INDIA (FOR OTHER CHARGE HOLDERS PL SEE ANNEXURE-A) |
CORPORATE ACCOUNT GROUP BRANCH, 58, SHRIMALI SOCIETY, NAVRANGPURA,
AHMEDABAD, Gujarat - 380009, INDIA |
B80370695 |
* Date of charge modification
FINANCIAL
The global economy
during the financial year 2012-13 has
experienced a slow down on account of deteriorating financial conditions and
sluggish growth prospects.
Despite of these
constrains, your Company has been able to excel on all performance parameters. Highlights of financial performance
of the Company for the current financial year are summarized below:
Ø Total Income increased from Rs.
85348.000 millions in previous year to Rs. 103037.900 millions recording
increase of 20.73 %.
Ø PBT increased from Rs. 9415.500
millions in previous year to Rs. 12471.400 millions, recording an increase of
32.46%.
Ø PAT increased from Rs.6077.400
millions in previous year to Rs. 8465.700 millions, recording an increase of
39.30 %.
BUSINESS:
The Company along
with its subsidiaries and associates has evolved strategically as an 'integrated Energy Company" with
significant presence across the entire energy value chain spanning wide range
of oil & gas activities comprising oil and gas exploration, development and production, gas
trading, gas transmission, gas distribution and power generation. The Company
has played a proactive role in the development of entire gas value chain in the
State of Gujarat through its initiative of participation in the midstream and
downstream segments as well as gas based power generation and initiating
activities for setting up of LNG Terminal. Segment wise performance highlights
are summarized below:
I. Ubstream
Business Activities
The Company has
grown from operatorship of small on land fields in Gujarat to a large oil and
gas exploration entity across India and overseas. The Company has significant
growth potential with a diversified portfolio of on land / offshore blocks,
both within India and overseas, along with combination of matured blocks and
blocks under development and exploration.
Technology plays
an important role in E & P sector. The Company has inducted best in class
technology in all spheres of its exploration, development and production activities.
In addition, your Company has also entered into strategic service agreements
with reputed service providers like Schlumberger, Halliburton, Baker Hughes, M
I Overseas, BJ Services, Weatherford, ITS, Aban Offshore, Nabors, Precision
Drilling, Fugro, Blade energy, EIL, L and T, Punj Loyd etc. to have cutting
edge in E&P operations.
The major
achievements are summarized below:
KG Block
The KG-OSN-2001/3
offshore block was awarded to GSPC under a production sharing contract with
Government of India in February, 2003. The Company since then drilled total of
18 exploratory/appraisal wells, some of these wells were drilled to 6000m
depth, which are among the deepest HPHT wells globally.
The Company has
carried out detailed G and G studies and deployed internationally renowned
technical consultants i.e. Schlwnberger, Fugro Robertson and Blade Energy.
These technical studies have helped in developing better understanding about
the geological system and development philosophy.
The overall strategy
for development of KG Offshore block is one involving an integrated development
of Deen Dayal Area. The basis of development is to initiate the development of
Deen Dayal field by building production facility in the DDW area which is
currently being undertaken through several projects outlined below. The second
phase would involve integrated Declaration of Cornrnerciality (DOC) and
development of other discovery areas, among them are DDE, DDN, DDW-DT and DD
NE. The integrated DOC was submitted to DGH/MOPNG in February 2013 and the same
is currently under consideration by DGH/MOPNG. After approval of DOC, the
development plan is envisaged to be submitted.
It is envisaged
that an integrated field development strategy allow for a phased development
and early monetization of the reserve in the Deen Dayal Field. DDW area is
accordingly being developed as the first phase of development along with
development of additional mining lease area of 20.5 sq. km granted by Go1 in
January 2012, an area associated with extension of DDW area.
The Company is
fully geared up and committed to proceed ahead with the successful
implementation of the Been Dayal West Field Development Project which is the
first of its kind offshore HPHT P g h Pressure High Temperature) field
development in India. Thousands of workers, technicians and engineers are
working round the clock amidst tough conditions to ensure completion.
Notwithstanding multiple challenges (including agitation by fishermen / local
people, delay in statutory clearances, etc.), significant progress in project
implementation has been achieved.
The Deendayal
field development plan consists of four major segments- Well Head Platform
(WHP), an offshore Process-cum-Living Quarter Platform (PLQP), Sub-sea Pipeline
and Onshore Gas Terminal (OGT)
FIXED ASSETS
Ø
Leasehold Land
Ø
Freehold Land
Ø
Buildings
Ø
Office Equipments
Ø
Computer Equipments
Ø
Vehicles
Ø
Furniture and Fixtures
Ø
Plant and Machinery
Ø
Intangibles (Software)
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
76 |
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.