MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MISHRA DHATU NIGAM LIMITED |
|
|
|
|
Registered
Office : |
P.O. Kanchan Bagh, Hyderabad – 500058, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
20.11.1973 |
|
|
|
|
Com. Reg. No.: |
01-001660 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1833.400
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14292AP1973GOI001660 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM00022B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Titanium and Titanium Base Alloys, Molybdenum
and Articles and Other Alloy Steel in Semi-finished Forms. |
|
|
|
|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 16300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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|
Comments : |
Subject is a government of India undertaking functioning under the
Ministry of Defence. It is a well-established and reputed company having fine track record.
Trade relations are fair. Business is active. Payments are reported to be
regular and as per commitments. The company can be considered normal 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 – 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of 4.9
%, Fitch Rating said. The global rating agency expects the economy to pick up
in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
03.03.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk |
|
Date |
03.03.2014 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Babu |
|
Designation : |
Finance Department |
|
Contact No.: |
91-40-24341169 |
|
Date : |
29.05.2014 |
LOCATIONS
|
Registered Office/ Factory : |
P.O. Kanchan Bagh, Hyderabad – 500058, Andhra Pradesh, India |
|
Tel. No.: |
91-40-24340001 (10 Lines) 91-40-24340201/ 24340280/ 24340044/ 24340853 (Other Lines) |
|
Fax No.: |
91-40-24440214/ 24340214/ 24340764 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Office:
|
Flat No.8330, C-8, Vasant Kunj, New Delhi – 110070, India |
|
Tel. No.: |
91-11-26132875 |
|
Fax No.: |
91-11-26890253 |
|
E-Mail : |
|
|
|
|
|
Commercial
Office: |
Located At: ·
Chennai ·
Kolkata |
|
|
|
|
Branch Offices :
|
Located At: ·
Chennai ·
Kolkata ·
Mumbai ·
Delhi |
DIRECTORS
As on 31.03.2013
|
FUNCTIONAL DIRECTORS |
|
|
|
|
|
Name : |
M Narayana Rao |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
V S Krishnamurthy |
|
Designation : |
Director ( Finance) |
|
|
|
|
Name : |
Dr. D.K. Likhi |
|
Designation : |
Director ( Production and Marketing) |
|
Date of Birth : |
53 Years |
|
Date of Appointment : |
01.09.2011 |
|
|
|
|
GOVERNMENT NOMINEE
DIRECTORS |
|
|
|
|
|
Name : |
Ms. Kusum Singh |
|
Designation : |
Joint Secretary (Personnel and
Coordination) |
|
|
|
|
Name : |
Dr. G. Malakondaiah |
|
Designation : |
Distinguished Scientist Director, DMRL, DRDO Ministry of Defence, Govt. of India. |
|
|
|
|
INDEPENDENT DIRECTORS |
|
|
|
|
|
Name : |
Mrs. Indu Liberhan |
|
Designation : |
Ex-Secretary. Ministry of Defence (Finance) Government of India |
|
|
|
|
Name : |
Dr. Dipankar Banerjee |
|
Designation : |
Professor, Department of Materials Engineering, Indian Institute of Science, Bangalore. |
|
|
|
|
Name : |
Dr. Kota Bhanu Sankara Rao |
|
Designation : |
Dean School of Engineering Sciences and Technology, University of Hyderabad |
KEY EXECUTIVES
|
Name : |
Mr. T V Reddy, IFS |
|
Designation : |
Chief Vigilance Officer |
|
|
|
|
Name : |
Mr. P.V. Subba Rao |
|
Designation : |
Company Secretary (upto 31.05.2013) |
|
|
|
|
Name : |
Mr. Paul Antony |
|
Designation : |
Company Secretary (from 13.08.2013) |
|
|
|
|
PERMANENT SPECIAL
INVITEE : |
|
|
|
|
|
Name : |
Mr. P.K. Kataria |
|
Designation : |
Addl. FA and Joint Secretary Ministry of Defence (Finance) Government of India. |
|
Date of Appointment : |
28.04.2011 |
|
|
|
|
GENERAL MANAGER : |
|
|
|
|
|
Name : |
Mr. B.G. Rai |
|
Designation : |
General Manager (Commercial and Business Development) |
|
|
|
|
Name : |
Mr. P Mukhopadhyay |
|
Designation : |
General Manager (QCL, R and D) |
|
|
|
|
Name : |
Mr. Prallab Sarkar |
|
Designation : |
General Manager (Production and
Planning) |
|
|
|
|
Name : |
Dr. H V Kiran |
|
Designation : |
General Manager (Marketing) |
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|
|
|
Name : |
Mr. Debasish Dutta |
|
Designation : |
General Manager (Projects) |
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|
|
|
Name : |
Mr. Achanta Rama Krishna Rao |
|
Designation : |
General Manager (HR) |
|
|
|
|
Name : |
Mr. Sanjay Kumar |
|
Designation : |
General Manager (Finance) |
|
|
|
|
Name : |
Mr. M S Chalapati |
|
Designation : |
General Manager (Production) |
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|
|
|
Name : |
Mr. General Manager (Production) |
|
Designation : |
General Manager (Eng. Services) |
MAJOR SHAREHOLDERS
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Titanium and Titanium Base Alloys, Molybdenum
and Articles and Other Alloy Steel in Semi-finished Forms. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
· State Bank of India ·
HDFC Bank Limited ·
Andhra Bank ·
State Bank of Hyderabad |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Satyam and Veerabhadra Chartered Accountants |
|
Address : |
Flat No. 107, Venkatarama Towers, Opposite Skyline Theatre,
Basheerbagh, Hyderabad-500 029, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23222564/23224813 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.1000/- each |
Rs.2000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1873400 |
Equity Shares |
Rs.10/- each |
Rs.1873.400 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 |
1,873.400 |
1,833.400 |
1,833.400 |
|
(b) Reserves & Surplus |
2,194.251 |
1,804.530 |
1,546.146 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
40.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4,067.651 |
3,677.930 |
3,379.546 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
135.838 |
240.838 |
258.152 |
|
(b) Deferred tax liabilities (Net) |
3.249 |
5.380 |
4.004 |
|
(c) Other long term
liabilities |
3,293.760 |
807.992 |
1,449.717 |
|
(d) long-term
provisions |
149.176 |
136.251 |
124.009 |
|
Total Non-current
Liabilities (3) |
3,582.023 |
1,190.461 |
1,835.882 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
563.503 |
886.446 |
102.540 |
|
(b) Trade
payables |
742.812 |
431.572 |
438.986 |
|
(c) Other current
liabilities |
2,671.897 |
1,949.898 |
1,829.109 |
|
(d) Short-term
provisions |
2,199.495 |
1,902.546 |
1,317.507 |
|
Total Current
Liabilities (4) |
6,177.707 |
5,170.462 |
3,688.142 |
|
|
|
|
|
|
TOTAL |
13,827.381 |
10,038.853 |
8,903.570 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
651.779 |
606.445 |
552.238 |
|
(ii)
Intangible Assets |
29.962 |
0.295 |
0.401 |
|
(iii)
Capital work-in-progress |
1,350.234 |
102.170 |
93.881 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
21.011 |
21.011 |
21.011 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.696 |
190.376 |
48.126 |
|
(e) Other
Non-current assets |
0.621 |
10.743 |
0.140 |
|
Total Non-Current
Assets |
2,082.303 |
931.040 |
715.797 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4,829.249 |
4,433.624 |
3,922.610 |
|
(c) Trade
receivables |
2,673.814 |
1,352.298 |
1,040.638 |
|
(d) Cash
and cash equivalents |
1,729.821 |
1,503.606 |
1,884.598 |
|
(e)
Short-term loans and advances |
2,271.413 |
1,617.420 |
1,235.856 |
|
(f) Other
current assets |
240.781 |
200.865 |
104.071 |
|
Total
Current Assets |
11,745.078 |
9,107.813 |
8,187.773 |
|
|
|
|
|
|
TOTAL |
13,827.381 |
10,038.853 |
8,903.570 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5,538.959 |
4963.051 |
4078.843 |
|
|
|
Other Income |
198.565 |
222.391 |
190.853 |
|
|
|
TOTAL (A) |
5,737.524 |
5,185.442 |
4,269.696 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1,773.853 |
1446.193 |
1966.784 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
212.247 |
130.168 |
(675.881) |
|
|
|
Employee Benefits Expenses |
963.671 |
1121.196 |
1000.933 |
|
|
|
Other Expenses |
1,489.949 |
1363.497 |
1119.184 |
|
|
|
TOTAL (B) |
4,439.720 |
4,061.054 |
3,411.020 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1,297.804 |
1,124.388 |
858.676 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.432 |
91.484 |
67.941 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1,229.372 |
1,032.904 |
790.735 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
51.606 |
47.876 |
38.921 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1,177.766 |
985.028 |
751.814 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
352.583 |
300.479 |
247.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
825.183 |
684.549 |
504.218 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1804.530 |
1546.146 |
1275.918 |
|
|
|
|
|
|
|
|
|
Less |
Amount utilized
(dividend plus dividend tax) |
435.462 |
426.165 |
233.990 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2194.251 |
1804.530 |
1546.146 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
44.047 |
37.338 |
27.502 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
5620.000 |
The above information has been parted by Mr. Babu
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
14.38 |
13.20 |
11.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.26 |
19.85 |
18.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.46 |
9.93 |
8.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.27 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.31 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90 |
1.76 |
2.22 |
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 |
1833.400 |
1833.400 |
1873.400 |
|
Reserves & Surplus |
1546.146 |
1804.530 |
2194.251 |
|
Share Application money
pending allotment |
0.000 |
40.000 |
0.000 |
|
Net
worth |
3379.546 |
3677.930 |
4067.651 |
|
|
|
|
|
|
long-term borrowings |
258.152 |
240.838 |
135.838 |
|
Short term borrowings |
102.540 |
886.446 |
563.503 |
|
Total
borrowings |
360.692 |
1127.284 |
699.341 |
|
Debt/Equity
ratio |
0.107 |
0.306 |
0.172 |
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 |
4,078.843 |
4,963.051 |
5,538.959 |
|
|
|
21.678 |
11.604 |
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
|
4,078.843 |
4,963.051 |
5,538.959 |
|
Profit |
504.218 |
684.549 |
825.183 |
|
|
12.36% |
13.79% |
14.90% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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
|
CASE STATUS INFORMATION SYSTEM
|
||||||||||||||||||||||||||||||||||||
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loan from Government of India (Excluding Rs.100.000 Millions which is due for payment within 12 months treated as short term borrowings) Terms of Repayment (every year 1/5 of the principal
amount) |
98.000 |
198.000 |
|
Advances -
Augmentation Facilities -
VSSC * |
37.838 |
42.838 |
|
Total |
135.838 |
240.838 |
*This represents balance amount payable (net of Rs.5.000 Millions repayable within 12 months) against refundable loan of Rs.47.838 Millions received from VSSC for upgradation of forge press.
SIGNIFICANT
ACHIEVEMENTS DURING THE YEAR WERE:
Highest ever achieved Sales Turnover of Rs.5585.900 Millions Surpassing the
previous year sales of Rs.5090.100 Millions declaration of dividend upto 20 %on Equity aggregating to
Rs.374.700 Millions for the second successive year.
Highest vop of
Rs.5373.700 Millions, and value added per employee of Rs.369.200 Millions
higher than the previous year.
Highest achieved
order book position of Rs.12700.000 Millions as on 01.04.2013.
Signing Transfer
of Technology (TOT) Agreement on light weight composite Armour for Mi-17
Helicopter with Defence Metallurgical Laboratory (DMRL).
HIGHLIGHTS OF PRODUCTION AND SUPPLIES
- lndigenization of strategic products such as Titanium Sea Water
filter and Ti High pressure valve for Naval systems.
- Turnover increased to Rs.5585.900 Millions (4,687 MT) as compared
to Rs.5090.100 Millions (3,482 MT) during the previous year, thus
registering a growth of about 10%value wise.
FINANCIAL HIGHLIGHTS:
Successful
Completion of one full year (F/Y 2012-2013) with Financial Accounts closure, in
ERP after stopping the legacy system since 1st April, 2012.
The Company has
earned a Gross Margin of Rs1297.800 Millions and a Profit before Tax of
Rs.1177.800 Millions during the year 2012-13 as compared to Rs.1032.900
Millions and Rs.985.000 Millions in the previous year respectively. The Profit
after Tax for the year stands at Rs.825.200 Millions as against Rs.684.500
Millions in the previous year, thus surpassing all the previous years'.
The surplus
available for appropriations would be Rs.825.200 Millions as against Rs.684.500
Millions in the previous year which would enable the Company to declare an
Interim Dividend and a final dividend aggregating to Rs374.700 Millions as
against Rs.366.700 Millions in the previous year.
During the year
under report the authorised Share Capital of the Company remained un-altered.
The Authorised and Paid up Share Capital stood at Rs.2000.000 Millions and
Rs.1873.400 Millions respectively, as on 31.03.2013
FUTURE OUTLOOK:
With a view to
discharge its long term goals and to fulfill its Corporate Mission, your
company continued its efforts to reach the targeted capacity level of about
7,000-8000 Tonneslyear, from its existing level of 4,000 MT / year, in about a
time frame of 3 years.
AWARDS:
Institute of
Public Enterprise (IPE) presented the global HR Excellence Award as "CEO
with HR Orientation" to Chairman and Managing Director, MIDHANI, Shri. M.
Narayana Rao, at a glittering awards ceremony during World HRD Congress held at Mumbai.
Ms. C. Sabita, Dy.
General Mgr. (HR and CC) was conferred with 30 women Super Achievers award by
IPE during the programme which is endorsed by Thought Leaders and Asian confederation business
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10222391 |
30/09/2013 * |
3,400,000,000.00 |
State Bank of India |
Chandrayanagutta
Branch, Kanchanbagh, Hyderabad, |
B87686135 |
|
2 |
90117719 |
11/03/2002 |
28,000,000.00 |
ANDHRA BANK |
BDL Campus Branch, Hyderabad, Andhra Pradesh, India |
- |
|
3 |
90117414 |
11/06/2010 * |
160,000,000.00 |
Andhra Bank |
BDL Campus Branch, Hyderabad, Andhra Pradesh - 500058, India |
A88562178 |
|
4 |
90117209 |
19/02/1997 |
20,000,000.00 |
ANDHRA BANK |
BDL Campus Branch, Hyderabad, Andhra Pradesh, India |
- |
|
5 |
90118213 |
07/09/1989 * |
10,000,000.00 |
ANDHRA BANK |
Santoshnagar Colony, Hyderabad, Andhra Pradesh - 500659, India |
- |
|
6 |
90116623 |
27/07/1992 * |
6,970,000,000.00 |
ANDHRA BANK |
Santoshnagar Colony, Hyderabad, Andhra Pradesh - 500659, India |
- |
|
7 |
90116538 |
24/01/1983 |
20,000,000.00 |
STATE BANK OF INDIA |
Hyderabad, Andhra Pradesh, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
59 |
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.