MIRA
INFORM REPORT
|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE SINGARENI COLLIERIES COMPANY LIMITED |
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Registered
Office : |
Kothagudem Collieries, District Khammam - 507101, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.12.1920 |
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Com. Reg. No.: |
01-000571 |
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Capital Investment
/ Paid-up Capital : |
Rs.17332.000 Millions |
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CIN No.: [Company Identification
No.] |
U10102AP1920SGC000571 |
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PAN No.: [Permanent Account No.] |
AAACT8873F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Coal Mining. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established company Jointly owned by the Government of
Andhra Pradesh and Government of India. Financial positon of the company is sound. Fundamentals are strong. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered good 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Corporate credit rating: AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
27.11.2013 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-40-23300132)
LOCATIONS
|
Registered Office : |
Kothagudem Collieries, District Khammam - 507101, Andhra Pradesh |
|
Tel. No.: |
91-8744-242873/ 242301 to 242304 |
|
Fax No.: |
91-8744-242393/ 242305 |
|
E-Mail : |
|
|
Website : |
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Branch : |
Singareni Bhavan, Red Hills, PB. No.18, Khiratabad PO, |
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Tel No: |
91-40-23397775 |
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Fax No: |
91-40-23307653 |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Sutirtha Bhattarcharya |
|
Designation : |
Managing director |
|
Address : |
PWD Quarter No.256, 6-3-574, Anand Nagar, Khairatabad, Hyderabad –
500004, Andhra Pradesh, India |
|
Date of Birth/Age : |
02.08.1957 |
|
Date of Appointment : |
10.05.2012 |
|
DIN No.: |
00423572 |
|
|
|
|
Name : |
Mr. Dinesh Chandra Garg |
|
Designation : |
Director |
|
Address : |
CMD’s Bungalows, Koyla Vihar, Civil Lines, |
|
Date of Birth/Age : |
12.11.1954 |
|
Date of Appointment : |
21.09.2007 |
|
DIN No.: |
00267658 |
|
|
|
|
Name : |
Mr. Vivekanand
Sattineni |
|
Designation : |
Whole-Time Director |
|
Address : |
Quarter No.S-4, Bungalows Area, Kothagudem, Khammam – 507101, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.03.1965 |
|
Date of Appointment : |
03.09.2010 |
|
DIN No.: |
03213226 |
|
|
|
|
Name : |
Mr. Bikki Ramesh Kumar |
|
Designation : |
Whole-Time Director |
|
Address : |
S-2, Bungalows Area, L.D Palli, Kothagudem, Khammam – 507101, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.04.1957 |
|
Date of Appointment : |
13.06.2011 |
|
DIN No.: |
01312607 |
|
|
|
|
Name : |
Mr. Vijaya Kumar Thappita |
|
Designation : |
Whole-Time Director(Personnel, Administration and Welfare) |
|
Address : |
Qr. No. S-3, Bungalows Area, L.D Palli, Kothagudem, Khammam - 507 101, Andhra Pradesh, India |
|
Date of Birth/Age : |
02.05.1963 |
|
Date of Appointment : |
03.08.2011 |
|
DIN No.: |
03597435 |
|
|
|
|
Name : |
Mr. Penmetsa Viswanadha Raju |
|
Designation : |
Whole-time director |
|
Address : |
Bungalow No. J-3, Bngalows Area, Kothagudem, Khammam – 507101, Andhra
Pradesh, India |
|
Date of Birth/Age : |
05.02.1954 |
|
Date of Appointment : |
12.11.2011 |
|
DIN No.: |
05122332 |
|
|
|
|
Name : |
Mr. Mrutunjay Sahoo |
|
Designation : |
Director |
|
Address : |
F-43, Nivedita Kunj, Sector – 10, R K Puram, New Delhi – 110023, India
|
|
Date of Birth/Age : |
16.03.1954 |
|
Date of Appointment : |
17.10.2012 |
|
DIN No.: |
00015715 |
|
|
|
|
Name : |
Mr. Adika Manohar Rao |
|
Designation : |
Whole-time director |
|
Address : |
Quarter No. J-001, Bungalows Area, Laxmidevipalli, Kothagudem, Khammam
– 507101, Andhra Pradesh, India |
|
Date of Birth/Age : |
20.03.1957 |
|
Date of Appointment : |
13.12.2012 |
|
DIN No.: |
01326728 |
|
|
|
|
Name : |
Mr. Ajay Kumar Bhalla |
|
Designation : |
Director |
|
Address : |
159, D-II Flat, Kidwai Nagar (West), Delhi – 110023, India |
|
Date of Birth/Age : |
26.11.1960 |
|
Date of Appointment : |
03.04.2013 |
|
DIN No.: |
03151465 |
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|
|
|
Name : |
Mr. Devulapallia Narsimha Prasad |
|
Designation : |
Director |
|
Address : |
Flat No. 1284, Type – IV, Special, Sector – 12, R K Puram, New Delhi –
110022, India |
|
Date of Birth/Age : |
09.05.1957 |
|
Date of Appointment : |
06.06.2013 |
|
DIN No.: |
00119593 |
KEY EXECUTIVES
|
Name : |
Mr. Janamanchi Rama |
|
Designation : |
Company Secretary |
|
Address : |
MA-8, Near Central Workshop, Writers Basthi, Kothagudem – 507 101, Khammam,
|
|
Date of Birth/Age : |
04.05.1956 |
|
Date of Appointment : |
20.11.1995 |
|
Pan No.: |
AAYPJ0049E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2013
|
Category |
Percentage |
|
Government (central and State) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Coal Mining. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
State Bank of Hyderabad, Industrial Finance Branch, Topaz Building, Amruth
Hills, Punjagutta, Hyderabad – 500082, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Power Finance Corporation Limited, 'Urjanidhi', 1, Barakhamba Lane,
Connaught Place, New Delhi - 110001, India |
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Auditors : |
|
|
Name : |
Vaithisvaran
and
Company Chartered Accountant |
|
Address : |
(Md0056), 6-3-663/C, Officers Colony, Panjagutta |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFV2224M |
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Subsidiaries : |
CIN
No.: U29219AP1976SGC002071 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000000 |
Equity Shares |
Rs.10/- each |
Rs.18000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1733198119 |
Equity Shares |
Rs.10/- each |
Rs.17332.000
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 |
17332.000 |
17332.000 |
17332.000 |
|
(b) Reserves & Surplus |
16993.000 |
13995.500 |
11420.000 |
|
(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) |
34325.000 |
31327.500 |
28752.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10284.800 |
6166.100 |
3316.700 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
926.400 |
2833.100 |
2856.400 |
|
(d) long-term provisions |
81473.500 |
59207.500 |
34323.200 |
|
Total
Non-current Liabilities (3) |
92684.700 |
68206.700 |
40496.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
402.100 |
95.100 |
5234.000 |
|
(b) Trade payables |
5944.500 |
3095.700 |
2529.800 |
|
(c) Other current liabilities |
20418.600 |
18786.600 |
12521.700 |
|
(d) Short-term provisions |
6461.300 |
5257.400 |
6327.700 |
|
Total
Current Liabilities (4) |
33226.500 |
27234.800 |
26613.200 |
|
|
|
|
|
|
TOTAL |
160236.200 |
126769.000 |
95861.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
32747.000 |
31343.100 |
31473.200 |
|
(ii) Intangible Assets |
3045.400 |
3517.500 |
3915.000 |
|
(iii) Capital work-in-progress |
16034.200 |
3205.500 |
1469.700 |
|
(iv) Intangible assets under
development |
5389.400 |
2986.400 |
2128.300 |
|
(b) Non-current Investments |
10228.000 |
231.300 |
232.000 |
|
(c) Deferred tax assets (net) |
24913.100 |
17733.000 |
10310.500 |
|
(d) Long-term Loan and Advances |
8851.300 |
10384.000 |
8312.400 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
101208.400 |
69400.800 |
57841.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6714.300 |
5759.700 |
4735.300 |
|
(c) Trade receivables |
12251.800 |
8025.900 |
3204.800 |
|
(d) Cash and cash equivalents |
32624.000 |
37116.700 |
27584.600 |
|
(e) Short-term loans and
advances |
3593.000 |
3084.200 |
2041.700 |
|
(f) Other current assets |
3844.700 |
3381.700 |
454.000 |
|
Total
Current Assets |
59027.800 |
57368.200 |
38020.400 |
|
|
|
|
|
|
TOTAL |
160236.200 |
126769.000 |
95861.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
102317.500 |
93222.300 |
82151.600 |
|
|
Other Income |
5728.700 |
4943.200 |
2441.200 |
|
|
TOTAL
(A) |
108046.200 |
98165.500 |
84592.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
17087.800 |
16228.600 |
15410.500 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(268.100) |
(1153.500) |
(1010.600) |
|
|
Employees benefits expense |
44180.400 |
41857.200 |
31739.300 |
|
|
Other expenses |
37065.800 |
31610.000 |
29283.700 |
|
|
Exceptional items |
172.300 |
60.200 |
(53.700) |
|
|
TOTAL
(B) |
98238.200 |
88602.500 |
75369.200 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
9808.000 |
9563.000 |
9223.600 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
453.800 |
344.600 |
267.800 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9354.200 |
9218.400 |
8955.800 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
3941.100 |
3589.000 |
3535.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
5413.100 |
5629.400 |
5420.400 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
1401.700 |
2046.700 |
1906.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
4011.400 |
3582.700 |
3513.700 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
1000.000 |
1000.000 |
1000.000 |
|
|
Dividend |
866.600 |
866.600 |
866.600 |
|
|
Tax on Dividend |
147.300 |
140.600 |
140.600 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.31 |
2.07 |
2.03 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.71 |
3.65 |
4.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.29 |
6.04 |
6.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.22 |
5.49 |
6.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.18 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.20 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78 |
2.11 |
1.43 |
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 |
17332.000 |
17332.000 |
17332.000 |
|
Reserves & Surplus |
11420.000 |
13995.500 |
16993.000 |
|
Net
worth |
28752.000 |
31327.500 |
34325.000 |
|
|
|
|
|
|
long-term borrowings |
3316.700 |
6166.100 |
10284.800 |
|
Short term borrowings |
5234.000 |
95.100 |
402.100 |
|
Total
borrowings |
8550.700 |
6261.200 |
10686.900 |
|
Debt/Equity
ratio |
0.297 |
0.200 |
0.311 |
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 |
82151.600 |
93222.300 |
102317.500 |
|
|
|
13.476 |
9.756 |
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 |
82151.600 |
93222.300 |
102317.500 |
|
Profit |
3513.700 |
3582.700 |
4011.400 |
|
|
4.28% |
3.84% |
3.92% |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10313286 |
11/10/2011 |
39,800,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B23569312 |
|
2 |
90258348 |
20/10/1997 |
166,500,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE
BRANCH, PUNJAGUTTA, HYDERABAD, |
- |
|
3 |
90261448 |
29/01/1997 |
27,500,000.00 |
ANDHRA BANK |
KOTHAGUDAM, KOTHAGUDAM, ANDHRA PRADESH, INDIA |
- |
|
4 |
90258215 |
13/09/2011 * |
4,310,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE
BRANCH, TOPAZ BUILDING, AMRUTH |
B22337190 |
|
5 |
90258120 |
02/09/1996 * |
1,314,835.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE BRANCH, AMRUTHA HILLS; PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
6 |
90258118 |
29/09/1995 |
102,500,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE
BRANCH, PUNJAGUTTA, HYDERABAD, |
- |
|
7 |
90257010 |
28/03/1995 |
100,000,000.00 |
CANFIN HOMES LIMITED |
5-9-100, PUBLIC
GARDEN ROAD, HYDERABAD, ANDHRA PR |
- |
|
8 |
90258017 |
25/10/1997 * |
25,426,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE
BRANCH, PUNJAGUTTA, HYDERABAD, |
- |
|
9 |
90259651 |
19/09/1994 |
20,285,600.00 |
STATE BANK OF HYDERABAD |
RICHMOND ROAD, BANGALORE, KARNATAKA, INDIA |
- |
|
10 |
90261122 |
19/07/1994 |
81,561,800.00 |
STATE BANK OF INDIA |
RICHMOND ROAD, BANGALORE, KARNATAKA, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
Claims against the Company not acknowledged as debts : |
|
|
Demand from Divisional Forest Officer towards NPV for renewal of different mining leases contested by the company. |
79.100 |
|
Workmen Compensation (cases contested court) |
9.200 |
|
Motor Accident claims(cases contested court) |
12.900 |
|
Police Guard(excess man power billed disputed) |
47.500 |
|
S C Railways(damages, demurrages etc. disputed) |
11.400 |
|
Water Royalty(billed at Industrial rate disputed) |
33.900 |
|
Vacant Land Tax (Levy contested) |
160.600 |
|
Contractors & Suppliers (OBR and other Contractual disputes) |
576.000 |
|
Disputed Electricity Bills for non segregation of Light & Fan loads from Industrial supply load. |
633.400 |
|
Other disputed claims & Legal cases etc. |
101.500 |
|
Service Tax demands were raised on OBR contractors by Service Tax Department, treating value of explosives and HSD oil issued by SCCL free of cost for use in the execution of OBR works, as additional consideration to them. The demands of Service Tax Department have been contested by the Service Providers. Pending adjudication of disputed demands, SCCL issued letter of comfort to the contractors with commitment to reimburse Service Tax. In case the verdict of the competent authority /court goes against the contractors and consequent to their discharge of Tax liability. |
3122.200 |
|
(a) Customs, Central Excise & Service Tax Department, issued Notice No. O.C.No.650/2010, dated 22.09.2010, demanding Interest payment of Rs.138.218 Millions on alleged availment of Input Service Tax Credit on ineligible services of Rs.56.276 Millions (from 2006-07 to 2008-09), though the same was not utilized by SCCL. Appeal is filed before CESTAT Bangalore and the same is pending adjudication. |
138.200 |
|
(b) Excise Duty demands on quantity disputes. |
25.900 |
|
(c) Education Cess and Sec. Higher Education Cess demand raised by Excise Department from March,2011 to Feb,2013 contested by SCCL |
347.900 |
|
(d) Demand for Clean Energy Cess |
2.800 |
|
Tax Demands from Commercial Taxes Department (including entry tax) which are disputed by SCCL and pending before various appellate authorities for adjudication. |
984.200 |
|
Tax Demands from Income Tax Department which are disputed by SCCL and pending before various appellate authorities for adjudication. |
359.300 |
|
Profession Tax: Dy. C.T.O., KGM has issued a Demand Notice as per G.O. No.14897/CT-IV/2004, Dt.23.02.2013 for arrears of professional tax recovery from NCWA employees for the years 1990-91 to 2012-13. As per above mentioned G.O., Govt. has rescinded the orders keeping in abeyance payment of Profession Tax by employees of SCCL retrospectively. Principal Secretary is requested vide Ltr.No.CRP/PER/IR/654, Dt.26.03.2013 to review the above G.O. |
1764.400 |
|
Claims in respect of suits filed by the Pattadars for additional compensation for Acres:5600, Guntas:28.25 (Previous year: Acres 8326, Guntas: 21.25 ) contested by the Company and pending in Courts. |
Not quantifiable |
|
An amount of Rs.11.800 Millions has been charged to supplier M/s. Indian Explosives Limited towards deficiency in powder factor on explosives supplied, and recognised as income during 2006-07. The supplier has initiated arbitration proceedings challenging the above charges. An amount of Rs.11.600 Millions and Rs.41.500 Millions were recovered from M/s.Advanced Mining Technologies towards Performance Bank Guarantee. M/s. Advanced Mining Technologies invoked Arbitration proceedings and made a total claim of Rs.94.82 Crore against the company (excluding interest @18% p.a. and Arbitration costs) which includes Rs.5.50 Crore towards Bank Guarantee invoked. An amount of Rs106.600 Millions has been charged to M/s. B.G.R Mining and Infra Private Limited., towards lead variation charges and recognised as income during the year 2012-13. A case has been filed by the contractor before the Hon'ble Principal Dist.Judge, Khammam challenging the above charges. |
|
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Railway sidings
Intangible assets
· Computer 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.60.19 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
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 |
|
64 |
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.