MIRA INFORM REPORT
|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MCNALLY BHARAT ENGINEERING COMPANY LIMITED [w.e.f.1972] |
|
|
|
|
Formerly Known
As : |
MCNALLY BIRD ENGINEERING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
4, Mangoe Lane, 7th
Floor, Kolkata – 700001, West Bengal |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.07.1961 |
|
|
|
|
Com. Reg. No.: |
21-025181 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 393.438
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45202WB1961PLC025181 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM08976C /
RCHM01882G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM9443R |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturer of Equipments for various Engineering and Infrastructure
Projects and also Providing Turnkey Solutions in the areas of Power, Steel,
Aluminium, Material Handling, Cement, Oil and Gas, Civic and Industrial Water
Supply etc. |
|
|
|
|
No. of Employees
: |
1662 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
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 16000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a
well-established company having a fine track record. There seems dip
in the profit of the company during 2013. However, financial position of the
company seems to be sound. Trade relations
are reported as fair. Business is active. Payment terms 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.2,453.2 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 |
CARE |
|
Rating |
Long term Bank facilities : A |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
September 11, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A1 |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
September 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
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-33-22138901)
LOCATIONS
|
Registered/
Corporate Office : |
4, Mangoe Lane, 7th
Floor, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22138901-05/ 08 / 22480847/ 0919/ 65500725-39 |
|
Fax No.: |
91-33-22480340/ 22485016/ 22303519 |
|
E-Mail : |
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|
Website : |
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|
Head/
Corporate Office : |
Ecospase, 11F/12 (Old Plot No. AA-II/Blk-3), New Town, Rajaarhat,
North 24, Parganas, Kolkata - 700156, West Bengal, India |
|
Tel. No.: |
91-33-30141111/ 66281111 |
|
Fax No.: |
91-33-30142277/ 66282277 |
|
E-Mail : |
|
|
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|
Factory : |
Plot No.313, 3rd Phase, Malur Industrial Area,
Malur, Kolar - 563130, Karnataka, India |
|
Tel. No.: |
91-8151-292469-71/ 292171-74/ 292191 |
|
|
|
|
Work and Sales
Offices : |
·
PO Kumardhubi, District Dhanbad - 828203, Jharkhand,
India Phone : 91-6540-273010 / 11 / 16 / 272235 / 197215 Fax : 91-6540-273024 / 273015 ·
Plot No.M-16, ADDA Industrial Area, PO R.K. Mission,
Asansol – 713305, West Bengal, India Phone : 91-341-6554031 /
6554490 Email : mse.asn@mbecl.co.in ·
3rd Floor, Maruthi Towers, 9th Main, Ex. Chairman
Layout, Banaswadi Main Road, Bangalore - 560034, Karnataka, India Phone : 91-80-41153781-83 Fax : 91-80-41153784 Email : mse.blr@mbecl.co.in ·
Chhani Road, Baroda - 390002, Gujarat, India |
|
|
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Regional
Offices : |
Located at: · Navi Mumbai · Faridabad · Chennai |
|
|
|
|
Branch Offices : |
Located at: ·
Mumbai ·
Ernakulum ·
Kolkata ·
Nagpur ·
Secunderabad ·
Chennai ·
Visakhapatnam ·
Vijaywada |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Deepak Khaitan |
|
Designation : |
Executive Chairman |
|
Date of
Appointment : |
15.09.2008 |
|
|
|
|
Name : |
Mr. Aditya Khaitan |
|
Designation : |
Director |
|
Date of Appointment
: |
23.09.2011 |
|
|
|
|
Name : |
Mr. Virendra Kumar Verma |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Utsav Parekh |
|
Designation : |
Director |
|
Date of
Appointment : |
10.09.2007 |
|
|
|
|
Name : |
Mr. Amritanshu Khaitan |
|
Designation : |
Director |
|
Date of
Appointment : |
23.09.2011 |
|
|
|
|
Name : |
Mr. Subir Ranjan Dasgupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Asim Kumar Barman |
|
Designation : |
Director |
|
Date of Appointment : |
01.12.2009 |
|
|
|
|
Name : |
Mr. Puranam Hayagreeva Ravikumar |
|
Designation : |
Director |
|
Date of
Appointment : |
23.09.2011 |
|
|
|
|
Name : |
Mr. Sudipto Sarkar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Prasanta Kumar Chandra |
|
Designation : |
Whole Time Director and Chief Operating Officer |
|
|
|
|
Name : |
Mr. Prabir Ghosh |
|
Designation : |
Whole Time Director and Group Chief Finance Office |
KEY EXECUTIVES
|
Name : |
Mr. Sukanta Chattopadhyay |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category
of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
10037743 |
32.28 |
|
|
10037743 |
32.28 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
10037743 |
32.28 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
3448326 |
11.09 |
|
|
999 |
0.00 |
|
|
845231 |
2.72 |
|
|
58911 |
0.19 |
|
|
4353467 |
14.00 |
|
|
|
|
|
|
6634697 |
21.34 |
|
|
|
|
|
|
5206565 |
16.74 |
|
|
4296127 |
13.82 |
|
|
565219 |
1.82 |
|
|
455916 |
1.47 |
|
|
109303 |
0.35 |
|
|
16702608 |
53.72 |
|
Total Public
shareholding (B) |
21056075 |
67.72 |
|
Total (A)+(B) |
31093818 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
31093818 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Equipments for various Engineering and
Infrastructure Projects and also Providing Turnkey Solutions in the areas of Power,
Steel, Aluminium, Material Handling, Cement, Oil and Gas, Civic and
Industrial Water Supply etc. |
GENERAL INFORMATION
|
No. of Employees : |
1662 (Approximately) |
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Bankers : |
· Bank of India · IDBI Bank Limited · State Bank of India · Canara Bank · United Bank of India · UCO Bank · Oriental Bank of Commerce · Union Bank of India · ICICI Bank Limited · ING Vysya Bank Limited · Axis Bank Limited · The Karur Vysya Bank Limited · HDFC Bank Limited · Punjab National Bank · Yes Bank Limited · DBS Bank Limited · Development Credit Bank Limited · Lakshmi Vilas Bank Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
|
|
|
Solicitors: |
|
|
Name: |
· Khaitan and Company · S K Sawday and Company |
|
|
|
|
Subsidiaries of the Company : |
· MBE Coal and Minerals Technologies India Private Limited (formerly Humbolt Wedag Minerals India Private Limited) · McNally Sayaji Engineering Limited (MSEL) · McNally Bharat Equipments Limited (MBEL) · McNally Bharat Infrastructure Limited (MBIL) · MBE Mineral Technologies Pte Limited (formerly MBE Holdings Pte Limited) · MBE Minerals Zambia Limited ·
McNally Bharat Engineering (SA) Proprietary
Limited |
|
|
|
|
Subsidiaries of MBE Mineral Technologies Pte Limited : |
· MBE Coal and Minerals Technologies Gmbh · MBE Cologne Engineering Gmbh ·
MBE EWB Technologiai Kft |
|
|
|
|
Associate of MBE Mineral Technologies Pte Limited : |
Hayward Tyler Group Plc. |
|
|
|
|
Subsidiaries of MBE Coal and Mineral Technology GmbH : |
· MBE Mineral Processing Technology (Beijing) Company Limited · MBE Mineral Processing of Brazil LTDA · PT MBE Coal and Minerals Technology, Indonesia · MBE Minerals S.A. Pty Limited · OOO MBE OUM, Russia ·
Coal and Mineral Technology Holding Gmbh,
Germany |
CAPITAL STRUCTURE
AFTER 27.09.2013
Authorised Capital : Rs. 1600.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 408.438
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
|
12000000 |
11.5% Non-Convertible Redeemable Preference Shares |
Rs. 100/- each |
Rs. 1200.000 Millions |
|
|
Total |
|
Rs. 1600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31093818 |
Equity Shares |
Rs. 10/- each |
Rs. 310.938
Millions |
|
825000 |
11.5% Non-Convertible Redeemable Preference Shares |
Rs. 100/- each |
Rs. 82.500
Millions |
|
|
Total |
|
Rs. 393.438 Millions |
(a) Reconciliation
of Number of Equity Shares:
There was no movement of equity share capital during the year.
(b) Reconciliation
of Number of 11.50%
Non-Convertible
Redeemable Preference Shares:
|
|
31.03.2013 |
|
|
|
No. of Shares |
Rs. in Millions |
|
At the beginning of the year |
-- |
-- |
|
Add : Issued during the year |
825000 |
82.500 |
|
At the end of the year |
825000 |
82.500 |
(c) Right and
restrictions attached to shares:
Equity Shares: The company has one
class of equity shares having a par value of Rs.10 per share. Each shareholder
is eligible for one vote per share held. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting.
Preference Shares: During the year
under review the company has issued cumulative, non convertible redeemable
preference shares of Rs 100 each at a coupon rate of 11.50% p.a.
(d) Shares held by
holding company and subsidiary of holding company: The company does
not have a holding company.
(e) Details of
shares held by shareholders holding more than 5% of the aggregate Equity shares
in the Company.
|
Name of Equity
Shareholders |
31.03.2013 |
|
|
|
No. of Shares |
% of Holding |
|
Williamson Magor and Company Limited |
3179748 |
10.23% |
|
Mcleod Russel India Limited |
3052295 |
9.82% |
|
Kotak India Focus Fund |
-- |
-- |
(f) Details of
shares held by shareholders holding more than 5% of the aggregate 11.50% Non Convertible
Redeemable Preference shares in the Company
|
Name of
Preference Shareholders |
31.03.2013 |
|
|
|
No. of Shares |
% of Holding |
|
Tata Capital Financial Services Limited |
625000 |
75.76% |
|
BrijeshKumarBiyani |
100000 |
12.12% |
|
Vyana AdvisoryPrivateLimited |
100000 |
12.12% |
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 |
393.438 |
310.938 |
310.938 |
|
(b) Reserves & Surplus |
3612.528 |
2974.540 |
2352.165 |
|
(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) |
4005.966 |
3285.478 |
2663.103 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
345.903 |
359.086 |
323.112 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
116.683 |
|
(c)
Other long term liabilities |
64.973 |
3.348 |
2.157 |
|
(d)
long-term provisions |
773.190 |
513.263 |
136.663 |
|
Total
Non-current Liabilities (3) |
1184.066 |
875.697 |
578.615 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
6106.685 |
3450.217 |
2155.548 |
|
(b)
Trade payables |
9516.256 |
7680.673 |
6921.761 |
|
(c)
Other current liabilities |
5642.367 |
6263.383 |
7264.956 |
|
(d)
Short-term provisions |
110.470 |
232.112 |
218.032 |
|
Total
Current Liabilities (4) |
21375.778 |
17626.385 |
16560.297 |
|
|
|
|
|
|
TOTAL |
26565.810 |
21787.560 |
19802.015 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1284.549 |
1142.436 |
1010.042 |
|
(ii)
Intangible Assets |
19.115 |
27.168 |
34.631 |
|
(iii)
Capital work-in-progress |
88.900 |
1.080 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1928.374 |
1742.882 |
1559.331 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
131.013 |
130.018 |
49.454 |
|
(e)
Other Non-current assets |
6.427 |
0.000 |
9.505 |
|
Total
Non-Current Assets |
3458.378 |
3043.584 |
2662.963 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.702 |
0.702 |
2.500 |
|
(b)
Inventories |
882.635 |
634.246 |
139.964 |
|
(c)
Trade receivables |
14559.849 |
13330.631 |
12667.543 |
|
(d)
Cash and cash equivalents |
133.956 |
120.771 |
321.000 |
|
(e)
Short-term loans and advances |
2807.218 |
2522.732 |
2661.594 |
|
(f)
Other current assets |
4723.072 |
2134.894 |
1346.451 |
|
Total
Current Assets |
23107.432 |
18743.976 |
17139.052 |
|
|
|
|
|
|
TOTAL |
26565.810 |
21787.560 |
19802.015 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
21832.478 |
20792.031 |
17578.709 |
|
|
|
Other Income |
73.073 |
120.555 |
143.889 |
|
|
|
TOTAL (A) |
21905.551 |
20912.586 |
17722.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
11244.019 |
10631.048 |
9190.759 |
|
|
|
Outsourcing expenses to outsiders for job work |
5136.682 |
5292.211 |
4237.876 |
|
|
|
Employee benefit expenses |
1615.383 |
1439.796 |
1211.610 |
|
|
|
Other expenses |
2207.141 |
2030.768 |
1910.281 |
|
|
|
TOTAL (B) |
20203.225 |
19393.823 |
16550.526 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1702.326 |
1518.763 |
1172.072 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1000.346 |
628.064 |
352.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
701.980 |
890.699 |
819.897 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
135.771 |
105.313 |
83.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
566.209 |
785.386 |
736.651 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
179.928 |
128.926 |
257.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
386.281 |
656.460 |
479.151 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1969.311 |
1363.451 |
990.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity Shares |
31.100 |
31.100 |
62.200 |
|
|
|
Tax on Dividend |
5.300 |
3.000 |
8.000 |
|
|
|
Transfer to General Reserve |
9.700 |
16.500 |
36.000 |
|
|
|
Proposed Dividend on Preference Shares |
0.600 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.100 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2308.792 |
1969.311 |
1363.451 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Contracts |
153.927 |
928.039 |
898.906 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components, Spare Parts and Stores |
643.142 |
603.068 |
181.173 |
|
|
|
Capital Goods |
0.000 |
0.666 |
0.000 |
|
|
TOTAL IMPORTS |
643.142 |
603.734 |
181.173 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.40 |
21.11 |
15.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.76
|
3.14 |
2.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.59
|
3.78 |
4.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.31
|
3.92 |
4.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.24 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.61
|
1.16 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.77
|
1.06 |
1.03 |
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 |
310.938 |
310.938 |
393.438 |
|
Reserves & Surplus |
2352.165 |
2974.540 |
3612.528 |
|
Net
worth |
2663.103 |
3285.478 |
4005.966 |
|
|
|
|
|
|
long-term borrowings |
323.112 |
359.086 |
345.903 |
|
Short term borrowings |
2155.548 |
3450.217 |
6106.685 |
|
Total
borrowings |
2478.660 |
3809.303 |
6452.588 |
|
Debt/Equity
ratio |
0.931 |
1.159 |
1.611 |
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 |
17578.709 |
20792.031 |
21832.478 |
|
|
|
18.280 |
5.004 |
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 |
17578.709 |
20792.031 |
21832.478 |
|
Profit |
479.151 |
656.460 |
386.281 |
|
|
2.73% |
3.16% |
1.77% |
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 |
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 |
10442478 |
18/07/2013 |
100,000,000.00 |
DBS BANK LIMITED |
4A, NANDALAL BASU SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
B81912750 |
|
2 |
10442427 |
17/07/2013 |
500,000,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
"PREMLATA", 39, SHAKESPEARE SARANI, KOLKATA - 700039, WEST BENGAL, INDIA |
B81882672 |
|
3 |
10433400 |
26/06/2013 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B78115839 |
|
4 |
10432967 |
04/06/2013 |
2,200,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, 1/1, CAMAC STREET, 1ST |
B77929735 |
|
5 |
10400287 |
04/12/2012 |
500,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
3A, RED CROSS PLACE, KOLKATA - 700001, WEST BENGAL, INDIA |
B67015859 |
|
6 |
10396127 |
16/11/2012 |
250,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
B65552846 |
|
7 |
10385748 |
18/09/2012 |
500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B61832200 |
|
8 |
10335896 |
26/06/2013 * |
4,040,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B78100104 |
|
9 |
10318443 |
09/11/2012 * |
365,400,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B62701776 |
|
10 |
10242902 |
07/02/2013 * |
32,220,000,000.00 |
BANK OF INDIA (LEAD BANK) |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B68137199 |
|
11 |
10226244 |
10/02/2012 * |
1,230,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B34584474 |
|
12 |
10202619 |
12/02/2010 |
440,000,000.00 |
DBS BANK LIMITED |
KOLKATA BRANCH, 4A, NANDALAL BASU SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
A79634754 |
|
13 |
10174629 |
16/09/2009 * |
1,820,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A70607247 |
|
14 |
10161723 |
29/12/2009 * |
13,695,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A78695855 |
|
15 |
10145997 |
30/01/2009 |
383,200,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA |
A56431745 |
|
16 |
10129890 |
19/11/2008 |
550,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
A50858398 |
|
17 |
10120938 |
16/09/2008 |
360,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA |
A45389327 |
|
18 |
10115281 |
15/07/2008 * |
500,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A43116235 |
|
19 |
10113744 |
01/07/2008 |
180,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
A42472043 |
|
20 |
10111548 |
17/06/2008 |
6,869,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A41357237 |
|
21 |
10090202 |
06/02/2008 |
35,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A33339540 |
|
22 |
10073707 |
16/10/2007 |
25,300,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A25864596 |
|
23 |
10048682 |
19/03/2007 |
250,000,000.00 |
ING VYSYA BANK LIMITED |
BRABOURNE ROAD, 1 & 2, OLD COURT HOUSE CORNER, KOLKATA - 700001, WEST BENGAL, INDIA |
A13315007 |
|
24 |
10048673 |
17/03/2007 |
250,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
A13308937 |
|
25 |
10033719 |
12/02/2008 * |
405,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A33643388 |
|
26 |
10021325 |
27/09/2006 * |
34,160,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A05332309 |
|
27 |
10021391 |
27/09/2006 * |
36,500,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A05332598 |
|
28 |
80009889 |
12/02/2008 * |
3,714,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A33642000 |
|
29 |
80014984 |
18/10/2006 * |
450,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
- |
|
30 |
90252503 |
25/07/2005 |
30,000,000.00 |
UTI BANK LIMITED |
7 SHAKESPCARE SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
- |
|
31 |
90252497 |
08/07/2005 |
30,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
- |
|
32 |
90250811 |
13/12/2004 |
133,900,000.00 |
UTI BANK LIMITED |
7 SHAKESPCARE SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
- |
|
33 |
80009359 |
29/03/2012 * |
1,450,000,000.00 |
ING VYSYA BANK LIMITED |
4/1,MIDDLETON STREET, SIKKIM HOUSE, KOLKATA - 700071, WEST BENGAL, INDIA |
B37615390 |
|
34 |
90252168 |
11/08/2005 * |
981,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
- |
|
35 |
90251237 |
31/05/2010 * |
22,050,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A88262738 |
|
36 |
90251147 |
14/03/2007 * |
150,000,000.00 |
STATE BANK OF INDIA |
SCB DHANBAD, GOODWILL PROPERTIES, BANK MORE, DHANBAD - 826001, JHARKHAND, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM BORROWINGS |
|
|
|
Cash Credit from Banks |
417.219 |
0.000 |
|
Packing Credit in Foreign Currency |
453.872 |
0.000 |
|
|
|
|
|
Total |
871.091 |
0.000 |
GENERAL
INFORMATION
Subject is a leading
Engineering Turnkey Project Execution Company in India. The Company's shares
are listed on National Stock Exchange and Bombay Stock Exchange.
BUSINESS PERFORMANCE
In 2012-13 turned out to be yet another satisfactory year during which
the company achieved its highest ever turnover of Rs 21900.000 Millions as
against Rs 20910.000 Millions during the previous year.
However, due to credit crunch faced by their clients across all sectors,
collections and working capital management was a challenge, resulting in
increased borrowings and higher interest charges.
ORDER BOOK
The Company has an order backlog of around Rs. 47070.000 Millions as on
March 31, 2013.
Some of the significant orders bagged during the year are mentioned
below, which are currently under execution:
· Construction of a 9000 TPD Integrated Cement Plant in technical collaboration with KHD Humboldt Wedag for Holcim Group at their ACC Jamul plant.
· Fluorspar Concentrator plant for Sephaku Fluoride Limited, South Africa (LOI received)
· Coal Handling Plant for Sagardighi TPP units 3&4(2X 500 MW) for West Bengal Power Development Corporation Limited.
· Ash Handling and Ash water recirculation system for NTPC at Mouda STPP (2 X 660 MW)
· Civil and Structural works for BPCL refinery
· Paste Fill Plant for Hindustan Zinc Limited
· External water system for Mills and Fire Water Pump houses in Bhilai Steel Plant
· Civil works for 3 X 67.5 MW gas based thermal power plant for IEL, Kalinganagar. Client Tata Power
· Civil works for Barauni TPP. Client BHEL
· Construction of 3 metro stations at Behala Bazar, Taratala and Majerhat for Kolkata Metro. Client Gammon.
· Coal handling and Ash handling plant for 2 X 250 MW Barauni TPP. Client BHEL
· Water supply package for Barauni TPP Ph I (2 X 110 MW) and Phase II (2X 250 MW)
· Construction of schools, hostels and quarters in Bankura and Purulia districts. Client HRBC
PROJECT EXECUTION
During the year a number of projects were at various stages of
execution. Some of the major projects which were commissioned during the year:
· Balance of Plant for Ideal Energy (1X 270 MW)
· Balance of Plant for MPPGCL, Satpura Unit 10 (250 MW)
· Coal handling Plant for Ukai TPP (500 MW). Client Gujarat State Electricity Corpn
· Ash Handling Plantfor Essar Power Gujarat Limited, Salaya (2X660 MW)
· Tailing Hydro Fill plant for SK Mines, Hindusthan Zinc Limited.
· 300 Ton Goliath crane for Mazagaon Docks Limited, Mumbai
· 250 Ton Goliath crane for Garden Reach Shipbuilders and Engineers Limited, Kolkata
· 3 Nos Level Luffing cranes for Goa Shipyard
· 2 Nos Stacker cum Reclaimers for ESSAR, Salaya Power
· 2 Nos Wagon Tippler with side arm charger for Sterlite Industry, Jharsuguda
·
1 No Stacker and 1 No Reclaimerfor Essar Steel, Paradip
and 1 No Stacker cum Reclaimer for Essar Power, Mahan
ACTIVITY HIGHLIGHTS
During the year a number of significant projects were commissioned,
which vindicates MBE's capability to execute large value projects. Two Balance
of Plant (BOP) projects were completed for Ideal Energy, Nagpur and MPPGCL,
Satpura. The 300 ton Goliath crane for Mazagaon Docks and the 250 ton Goliath
crane for GRSE were commissioned. MBE is the only company who have supplied all
the Shipyard cranes in India.
The company has been consolidating its presence in key markets by
setting up offices in India and abroad. With these steps they expect a greater
thrust on their marketing activities in new markets and territories, which will
reflect in higher sales growth in the future. Simultaneously, the company has
been reorganising the Project Divisions to focus on new business areas. Two new
Strategic Business Units were formed : Cement and Chemicals and Fertilisers.
Senior professionals have been hired from Industry to strengthen Marketing and
Business Units.
Quality in project delivery is of utmost priority for the company. MBE
has ISO 9001-2008 and ISO 14001-2004 certification. Their laboratory is
certified by NABL for nondestructive testing.
The company is committed to implement the highest standards of
Occupational Health and Safety standards at all Project sites.
They have received this year two prestigious safety awards from the
Royal Society for prevention of accidents, based in UK.
· Silver Award for Occupational Health and Safety for IISCO project site (Raw Material Handling, By Products Recovery and Water packages)
· Silver Award for Occupational Health and Safety for Rourkela Steel Plant Project site (Stock House, New CHP and Inter plant Transportation packages)
Apart from this, the company has received a number of Safety awards at
various project sites like GAP Lapanga, NALCO etc.
SUBSIDIARIES
MCNALLY SAYAJI ENGINEERING LIMITED (MSEL)
Some of the major orders received, which were executed during the year:
· Ball Mills from STEMCOR, Janaki Corpn., Rashi Strips, Furance Fabrica, HDO, Bhavnagar.
· Rod Mills from EPIL, TECPRO
· Chain Mills from IFFCO
· Hammer Mill and Screens from BCCL
· Scrubbers from Usha Martin and Jaiswal NECO
· Hammer Mills, Double Roll crushers (toothed and smooth) from EPIL
· Hammer Mill, Impactor, Jaw Crusher for ACC Jamul project
· 3 stage mobile crushing and screening plant from MBE
· 2 stage mobile crushing plant from Suryodaya Infra Projects
·
2 stage mobile crushing plantfrom Essel Mining
· Double Roll Crushers, Vibrating Feeders, Chutes and Hoppers from Archean Chemicals
· Bucket wheel excavator for Neyveli Lignite
· Stacker Reclaimers for NMDC, Sagardighi and BGR Energy
· Steel Plant equipment for SMS Meer a/c Bhilai Steel Plant
· Steel Plant equipment for Siemens a/c Bhilai Steel plant
· Equipment for By Products recovery plant from MBE a/c Bhilai Steel plant
· Skid mounted crusher plant from HINDALCO
· Thickners from VV Minerals, Usha Martin, Bhushan Steel, Godavari Power and Ispat
Production at the new plant at Savli in Vadodara is now in full swing.
The manufacturing units have ISO 9001-2008 certification. In addition,
the Asansol factory has IBR certification for manufacture of boilers and heat
exchangers. The laboratory at Kumardhubi is certified by NABL for mechanical
testing. The Kumardhubi unit has also obtained ISO 14001 - 2004 certification
During the year, the R and D department had successfully developed
several models of the slurry pump upto 10 inch inlet diameter.
MBE COAL AND MINERAL TECHNOLOGY INDIA LIMITED
Some of the major orders received and projects commissioned during the
year:
· Renovation of coarse and fine coal Batac Jigs from CCL for Rajrappa Coal washery, Ramgarh.
· O and M for 3 years for a 425 TPH Heavy Media Coal washery at Meramandali for Bhushan Steel Limited.
· Orders received for 90 Nos Decanter Centrifuges for Environmental projects
· Commissioned the 425 TPH Heavy Media coal washery at Meramandali for Bhushan Steel Limited
· 100 TPH Iron ore jigging plant is under commissioning for MSPL in Hospet
· Last consignment of equipment under despatch for 150 TPH Coal washery at Karachi.
OVERSEAS SUBSIDIARIES
All the overseas subsidiary companies under MBE Mineral Technologies Pte
Limited, Singapore, excepting the manufacturing unit in Cologne, have performed
reasonably well in spite of global slowdown, currency fluctuations and crisis
in Europe. The manufacturing subsidiary in Cologne, has recorded loss due to
low business volume from its main customer, for whom it works as outsourcing
partner. During the year the company also implemented major downsizing exercise
and reduced about 40 workmen. The cost of such reduction also impacted the
Profit and Loss. As a result the company had major erosion in its net worth. As
per prudent accounting principle, impairment loss of Rs. 345.000 Millions have
been recognized in its parent company, MBE Mineral Technologies Pte Limited,
Singapore, which is their 100% subsidiary. This has resulted in a negative
impact of equivalent amount in the consolidated Profit and Loss Account of the
Company.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENT
The GDP growth in 2012-13 was only 5% compared to 6.2 % in the previous
year. The growth in GDP has been the lowest in a decade. During 2012-13,
overall industrial growth was 3.1% compared to 3.5 % in the previous year.
Growth in sectors relevant to us were Mining (0.4 %), Manufacturing (1.9%),
Electricity generation (4.9 %) and Construction (5.9 %).
As per the Center for Monitoring Investment Expenditure (CMIE), new
investment projects have been drying up across sectors, partly as a consequence
of rising stalled projects which reduce the ability of firms to start new ones.
New projects of both Private and Government sectors have been falling. Several
factors are believed to have caused this including higher cost of capital,
difficulties in land acquisition, coal linkages and mining bans.
However, for 2013-14, somewhat better prospects are expected. As per the
"Review of the Economy 2012-13" released by Dr C Rangarajan, the
economy is expected to grow by 6.4% in 2013-14. The growth of Industry
(including manufacturing, mining, electricity, gas and water supply and
construction) is projected at4.9 % in 2013-14 as compared to 3.1 % in 2012-13.
For the 12th Plan (2012-17), the Planning Commission has indicated that
the investment in Infrastructure will double to Rs 56 Lakh Crores. A sector
wise analysis is given below.
POWER
The thermal power capacity addition in 12th Plan (2012-17) is expected
to be 67,686 MW. Ordering for 55,000 MW is complete and balance ordering left
is 12,686 MW. In addition, ordering for around 63,400 MW is expected during the
12th Plan which will get commissioned during the 13th Plan. Hence, total
ordering expected during the 12th Plan will be around 76,086 MW which works out
to an average of 15,000 MW annually. However, at present these are optimistic
projections due to problems of coal linkage, land acquisition and environmental
clearances.
WATER
Water sector is having vast market potential although there is intense
competition in various sub-sectors with all major Indian corporate/ overseas MNCs
eyeing water projects. Tender Pre-qualifications are also becoming more
specific and stringent.
The estimated market size for water projects is around Rs 165000.000
Millions, where the share of sub sectors are : Water Treatment [43%] followed
by municipal water pumping/ piping [24%] and sewage treatment sub-sectors
[21%].
The trend for many Mega Municipal water supply projects are on Design -
Build - Finance - Operate - Transfer (DBFOT) basis with min. 10 years O and M.
The future trend in most of the Industrial Water Treatment Packages is
to include tertiary water treatment systems (like DM/RO, MB, EDI etc.).
Effluent recycling along with raw water intake and treatment are being tendered
as a combined package.
Sea Water desalination is picking up in the Indian market - may become
one of the dominant sub-sectors in near future.
STEEL
India is the fourth largest producer of steel in the world after China,
Japan and USA. The installed capacity of Steel is expected to increase to 142
Million TPA by 2018 based on the assumption of 8% GDP growth.
Most of the additional capacity will be created in the Private sector,
apart from a few in the public sector, for EPC Packages in Steel Plants, where
MBE has execution experience include raw material handling, Sinter plant,
By-products recovery plant and coke oven batteries.
COAL, IRON ORE AND NON FERROUS METALS
MBE is a market leader in Mineral Beneficiation in India, having set up
most of the plants for Copper, Lead and Zinc in India and have executed two
copper projects in Konkola Mines, Zambia.
Consumption of refined copper has been growing @ 10% annually and is
projected to be 1.2 million tons by 2015-16. All the manufacturers, Hindustan
Copper, Sterlite and Birla have indicated expansion plans to meet the demand.
For Non Ferrous metal beneficiation the focus is more on export markets
due to huge reserves of ores available : Zambia and Congo for copper and
Tanzania, Congo, Ghana, Guinea and Mali for Nickel and gold. In South America,
investments are planned for copper, Lead - Zinc and Phosphate processing in
Chile and Peru.
Due to strategic reasons, there is significant thrust on exploration and
processing of Uranium ore, where MBE has strong credentials.
Government of India's restrictions on export of Iron Ore dust, and
coming up with policies for its utilisation has given a boost to the Iron Ore
Beneficiation industry.
Domestic Iron Ore beneficiation market holds good potential with SAIL
taking up new projects in Gua, Bolani, Tasra, Kiriburu Mines, which includes
beneficiation. Existing SAIL Producing Units like RSP and BSP have also
embarked upon in-house pelletisation facilities, which would require ore
beneficiation facilities.
Coal India is currently reviewing their Contracting strategy for Coal
Washeries, which is expected to open up the dormant market for coal washeries,
in view of Power Plant requirements for clean coal.
PORT AND STOCKYARD EQUIPMENT
The current capacity of Indian Ports is around 813 Million Tons per year
(MTPA) and capacity addition of
775 MTPA is planned by 2017. The demand for port cranes is a sum of
requirement from new capacity as well as replacement of existing old cranes.
MBE has a license agreement with Kone Cranes to manufacture and supply
Port and Shipyard cranes, with Poltegor for Stacker Reclaimers and Famac for
Wagon Tipplers. Container Handling is a growing market in Ports, Inland
Container Depots (ICD) and Container Freight Stations (CFS). MBE plans to tie-up
with reputed International companies for manufacturing container handling
equipment like Reach Stackers, Rubber Tyred Gantry cranes and Rail mounted quay
cranes.
Other areas of growth are component and structure outsourcing for port
cranes for European manufacturers. Spare parts business is also very lucrative.
MBE has recently commenced supplying stockyard handling equipment to
cement plants after receiving the EPC order for a cement plant from Holcim.
CEMENT
India is the second largest manufacturer of cement in the world after
China. Currently the total installed capacity is 320 Million Tons and projected
to increase to 480 Million Tons by 2017. MBE has recently made a significant
breakthrough by bagging an order to build a cement plant for Holcim group of
companies on turnkey basis. After successful implementation of this project,
MBE hopes to make further breakthroughs in this new business segment.
OUTLOOK
The company has an order backlog of around Rs. 4,707 Millions and they hope
to continue their past growth trend this year also.
FINANCIAL PERFORMANCE
During the year, the total income of the Company has increased to Rs.
21900.000 Millions, the Profit before Tax Stands at Rs.560.000 Millions and
earning per share stands at Rs. 12.40. Based on the business scenario within
the Country and Company's extended capability, the Company has set a higher
benchmark of performance for the year to come.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. in Millions) |
|
|
(a) Claims against the company not acknowledged as debt |
10.000 |
10.000 |
|
(b) Other money for which the Company is contingently
liable: |
|
|
|
(i) Excise Duty
matters pending in appeal related to issues of applicability and classification |
13.000 |
13.000 |
|
(ii) Sales Tax/VAT
matters pending in appeal relating to disputes regarding assessable value and
exemptions claimed |
92.200 |
94.400 |
|
(iii) Service Tax
Matters pending in appeal relating to issues of applicability |
2.100 |
7.200 |
|
(iv) Corporate
guarantees given in favour of Subsidiary Companies |
3291.200 |
2907.000 |
|
(v) Other
guarantees given |
320.000 |
320.000 |
|
(vi) Standby
letter of credit |
167.000 |
486.000 |
|
(vii) Liquidated damages relating to contract sales |
Amount not
readily ascertainable |
Amount not
readily ascertainable |
|
Note: The probable cash
outflow in respect of the above matters is not determinable at this stage. |
||
FIXED ASSETS:
· Plant and Equipment
· Furniture and Fixture
· Vehicles
· Office Equipments
· Refrigerator and Air Conditioners
· Telephone Plant
· Computer Software
PRESS RELEASE:
MCNALLY BHARAT
ENGINEERING GETS RS 3080.000 MILLIONS ORDER
AUGUST 26, 2013
Mcnally Bharat Engineering has received an order for Design, Engineering, Manufacturing, Erection, Commisioning and Supply on turnkey basis for In-Pit Conveyor System for a value of Rs 3090.000 Millions.
McNally Bharat Engineering Company Limited has informed BSE that the Company
have received an order for Design, Engineering, Manufacturing, Erection,
Commisioning and Supply on turnkey basis for In-Pit Conveyor System for a value
of Rs. 3090.000 Millions.
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. 59.14 |
|
|
1 |
Rs. 99.02 |
|
Euro |
1 |
Rs. 80.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.