MIRA INFORM REPORT
|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARG LIMITED |
|
|
|
|
Registered
Office : |
Marg Axis, 4/318, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.12.1994 |
|
|
|
|
Com. Reg. No.: |
18-029561 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.381.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45201TN1994PLC029561 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM02014F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM8770G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Subject is engaged in
the business of constructions, infrastructure development and real estate
development. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 27580000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Slow but correct |
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|
|
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Litigation : |
Exist |
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Comments : |
Subject is a well established diversified company having satisfactory
track. The company possesses an acceptable financial profile marked by adequate
networth based along with augmenting payables, increasing gearing and
deterioration in its cash reserves during the year under review. Management has reported a drastic dip in its sales volume and has
incurred a loss from its operations during FY13. However, the rating also take into consideration the company’s
experienced management, its demonstrated execution track record, diversified
revenue streams, reflecting decent and healthy fundamentals of the company. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of long standing presence, the subject can be considered 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.
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 DENIED BY
|
Name : |
Mr. Chandran |
|
Designation : |
Finance Department |
|
Contact No.: |
91-44-24542311 |
|
Date : |
10.06.2014 |
LOCATIONS
|
Registered Office : |
Marg Axis, 4/318, Old Mahabalipuram Road, Kottivakkam, Chennai – 600041, Tamilnadu, India |
|
Tel. No.: |
91-44-24541111 |
|
Fax No.: |
91-44-24541123 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Anjali Towers, 392 and 393, Rajiv Gandhi Salai, Kottivakkam, Chennai – 600041, Tamilnadu, India |
|
|
|
|
Branch Office 1 : |
No.43,1st Floor, Kodihalli Extension, H.A.L., 2nd Stage,
Indiranagar, |
|
Tel. No.: |
91-80-25200339 |
|
|
|
|
Branch Office 2 : |
18/17, 3rd Floor, Dhaka House, W.E.A. Karol Bagh, New Delhi – 110005, India |
|
Tel. No.: |
91-11-45173500 |
|
Fax No.: |
91-11-45173555 |
|
E-Mail : |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. G R K Reddy |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mrs. V P Rajini Reddy |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Arun Kumar Gurtu |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Karanjit Singh Jasuja |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rabindra Kumar Samal |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Chandran |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
6542057 |
17.16 |
|
|
6367798 |
16.71 |
|
|
12909855 |
33.87 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
12909855 |
33.87 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
2992000 |
7.85 |
|
|
130000 |
0.34 |
|
|
3122000 |
8.19 |
|
|
|
|
|
|
5894843 |
15.46 |
|
|
|
|
|
|
7406276 |
19.43 |
|
|
5475116 |
14.36 |
|
|
3310836 |
8.69 |
|
|
438334 |
1.15 |
|
|
715383 |
1.88 |
|
|
408020 |
1.07 |
|
|
1524099 |
4.00 |
|
|
224000 |
0.59 |
|
|
1000 |
0.00 |
|
|
22087071 |
57.94 |
|
Total Public
shareholding (B) |
25209071 |
66.13 |
|
Total (A)+(B) |
38118926 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
38118926 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in
the business of constructions, infrastructure development and real estate
development. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Facilities : |
(Rs.
In Millions)
Notes: * Loans Guaranteed by Directors. Repayment Terms
(including current maturities) of Secured Loans: Term Loans from Banks and
Financial Institutions: a) Loan of Rs. 358.000 Millions payable in 18 quarterly instalments ending Mar-18 b) Loan of Rs. 26.100 Millions payable in 18 quarterly instalments ending Mar-18 c) Loan of Rs. 208.100 Millions payable in 36 monthly instalments ending Dec-16 d) Loan of Rs. 31.100 Millions payable in 51 monthly instalments ending Jul-17 e) Loan of Rs. 651.400 Millions payable in 13 quarterly instalments ending Jul-16 f) Loan of Rs. 77.200 Millions payable in 7 monthly instalments ending Sep-13 g) Loan of Rs. 1135.700 Millions payable in 16 quarterly instalments ending Sep-17 h) Loan of Rs. 86.500 Millions payable in 16 quarterly instalments ending Sep-17 i) Loan of Rs. 1665.400 Millions payable in 18 quarterly instalments ending Mar-18 j) Loan of Rs. 109.900 Millions payable in 18 quarterly instalments ending Mar-18 k) Loan of Rs. 1979.800 Millions payable in 18 quarterly instalments ending Mar-18 l) Loan of Rs. 97.500 Millions payable in 18 quarterly instalments ending Mar-18 m) Loan of Rs. 726.500 Millions payable in 16 quarterly instalments ending Sep-17 n) Loan of Rs. 12.900 Millions payable in 16 quarterly instalments ending Sep-17 o) Loan of Rs. 695.100 Millions payable in 108 monthly instalments ending Mar-22 p) Loan of Rs. 382.600 Millions payable in 12 monthly instalments ending Mar-14 q) Loan of Rs. 183.100 Millions payable in 18 monthly instalments ending Apr-15 Term Loans from
Others: a) Loan of Rs. 580.900 Millions payable in 38 monthly instalments ending May-16 b) Loan of Rs. 27.000 Millions payable in 30 monthly instalments ending Sep-15 c) Loan of Rs. 55.900 Millions payable in 10 monthly instalments ending June-15 d) Loan of Rs. 53.100 Millions payable in 10 monthly instalments ending June-15 e) Loan of Rs. 100.000 Millions payable in 1 instalment ending Dec-13 f) Vehicle Loan of Rs. 6.400 Millions payable in monthly instalments ending June-16 Repayment Terms
(including current maturities) of unsecured Loans: a) Loan of Rs. 108.700 Millions payable in 1 instalment ending Mar-18 b) Loan of Rs. 2.800 Millions payable in 1 instalment ending Mar-18 c) Loan of Rs. 2.500 Millions payable in 1 instalment ending Apr-13 d) Loan of Rs. 7.500 Millions payable in 1 instalment ending Apr-13 e) Loan of Rs. 4.000 Millions payable in 1 instalment ending Apr-13 f) Loan of Rs. 0.500 Millions payable in 1 instalment ending Apr-13 g) Loan of Rs. 1.400 Millions payable in 1 instalment ending Apr-13 h) Loan of Rs. 19.500 Millions payable in 1 instalment ending Apr-13 Defaults on
repayment of Long-term Loans and Interest thereof: Long-term loans and interest thereof aggregating to Rs. 189.000 Millions (Previous year Rs. 218.300 Millions) and Rs. 108.400 Millions (Previous year Nil) were overdue for a period of less than 90 days and more than 90 days respectively. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K Ramkumar and Company Chartered Accountants |
|
Address : |
A-1, 7th Floor, Tower III, Sakthi Towers, 766, Anna Salai, Chennai – 600002, Tamilnadu, India |
|
|
|
|
Associates : |
Rajakamanglam Thurai Fishing Harbour Private Limited |
|
|
|
|
Step-down subsidiary,
where control existed for part of the year : |
Wisdom Constructions Private Limited |
|
|
|
|
Entities over which
KMP and/or their relatives exercise control : |
Akshya Infrastructure Private Limited Avinash Constructions Private Limited Exemplarr Worldwide Limited Jeevan Habitat Private Limited Marg Capital Markets Limited Marg Foundation Noble Habitat Private Limited Swarnabhoomi Academic Institutions |
|
|
|
|
Entities over which
KMP and/or their relatives exercise significant influence : |
|
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38118926 |
Equity Shares |
Rs.10/- each |
Rs.381.200 Millions |
|
|
|
|
|
Reconciliation of
number of Equity Shares Outstanding:
|
|
As at 31.03.2013 NOS |
|
Shares Outstanding at the beginning of the year |
38118926 |
|
Add: Shares Allotted during the year |
-- |
|
Shares Outstanding at the end of the year |
38118926 |
Shareholders holding
more than 5% Equity Shares:
|
Name of the
Shareholders |
As at 31.03.2013 |
|
|
|
Nos |
% |
|
G R K Reddy |
3608007 |
9.47% |
|
Akshya Infrastructure Private Limited |
3897836 |
10.23% |
|
Global Infoserv Limited |
2927000 |
7.68% |
|
MARG Capital Markets Limited |
2513000 |
6.59% |
|
G R K Reddy and Sons (HUF) |
2266000 |
5.94% |
|
Reliance Capital Trustee Company Limited -Reliance Infrastructure Fund |
1155400 |
3.03% |
Shares Reserved for
Issue of Options:
Details of share reserved for issue under the Employees Stock Options plans (ESOPs) of the company
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 |
381.200 |
381.200 |
381.200 |
|
(b) Reserves & Surplus |
6514.900 |
6877.700 |
5770.700 |
|
(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) |
6896.100 |
7258.900 |
6151.900 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7597.900 |
2835.000 |
3443.700 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
54.900 |
30.700 |
|
(c) Other long term
liabilities |
1698.600 |
1947.600 |
606.400 |
|
(d) long-term provisions |
11.300 |
28.700 |
23.000 |
|
Total
Non-current Liabilities (3) |
9307.800 |
4866.200 |
4103.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1803.500 |
2938.600 |
2668.400 |
|
(b) Trade payables |
2967.000 |
1536.600 |
1449.400 |
|
(c) Other current liabilities |
4978.400 |
7982.400 |
5799.200 |
|
(d) Short-term provisions |
116.300 |
115.300 |
164.700 |
|
Total
Current Liabilities (4) |
9865.200 |
12572.900 |
10081.700 |
|
|
|
|
|
|
TOTAL |
26069.100 |
24698.000 |
20337.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1599.500 |
1643.100 |
1243.600 |
|
(ii) Intangible Assets |
17.700 |
25.200 |
25.100 |
|
(iii) Capital work-in-progress |
125.700 |
124.300 |
101.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5686.500 |
5307.000 |
5198.400 |
|
(c) Deferred tax assets (net) |
185.100 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2633.600 |
1922.000 |
1876.900 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
10248.100 |
9021.600 |
8445.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.700 |
0.800 |
0.900 |
|
(b) Inventories |
2079.100 |
2349.500 |
1322.700 |
|
(c) Trade receivables |
4935.500 |
6006.200 |
4279.000 |
|
(d) Cash and cash equivalents |
408.000 |
831.100 |
570.300 |
|
(e) Short-term loans and advances |
8397.700 |
6488.800 |
5719.500 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
15821.000 |
15676.400 |
11892.400 |
|
|
|
|
|
|
TOTAL |
26069.100 |
24698.000 |
20337.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
7615.400 |
15010.900 |
10850.100 |
|
|
Other Income |
720.000 |
789.100 |
10.700 |
|
|
TOTAL
(A) |
8335.400 |
15800.000 |
10860.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Projects / Operating
Expenses |
7560.900 |
13101.600 |
9139.000 |
|
|
Personnel Expenses |
93.800 |
182.800 |
168.400 |
|
|
Other Expenses |
274.100 |
369.200 |
261.900 |
|
|
TOTAL
(B) |
7928.800 |
13653.600 |
9569.300 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
406.600 |
2146.400 |
1291.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
891.100 |
396.900 |
276.100 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(484.500) |
1749.500 |
1015.400 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
115.800 |
123.400 |
68.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(600.300) |
1626.100 |
946.500 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
(240.000) |
521.200 |
347.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
(360.300) |
1104.900 |
598.700 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3419.200 |
2314.300 |
1849.400 |
|
|
|
|
|
|
|
Less
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
45.000 |
|
|
Dividend |
0.000 |
0.000 |
76.200 |
|
|
Tax on Dividend |
0.000 |
0.000 |
12.600 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
3058.900 |
3419.200 |
2314.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components, embedded goods and spare-parts |
23.300 |
7.600 |
8.100 |
|
|
Capital Goods |
0.00 |
0.000 |
93.100 |
|
|
TOTAL
IMPORTS |
23.300 |
7.600 |
101.200 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(9.45) |
28.99 |
18.11 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(4.32) |
6.99 |
5.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.88) |
10.83 |
8.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.99) |
8.44 |
6.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09) |
0.22 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.36 |
0.80 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60 |
1.25 |
1.18 |
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 |
381.200 |
381.200 |
381.200 |
|
Reserves & Surplus |
5770.700 |
6877.700 |
6514.900 |
|
Net
worth |
6151.900 |
7258.900 |
6896.100 |
|
|
|
|
|
|
long-term borrowings |
3443.700 |
2835.000 |
7597.900 |
|
Short term borrowings |
2668.400 |
2938.600 |
1803.500 |
|
Total
borrowings |
6112.100 |
5773.600 |
9401.400 |
|
Debt/Equity
ratio |
0.994 |
0.795 |
1.363 |
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 |
10850.100 |
15010.900 |
7615.400 |
|
|
|
38.348 |
(49.268) |
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 |
10850.100 |
15010.900 |
7615.400 |
|
Profit |
598.700 |
1104.900 |
(360.300) |
|
|
5.52% |
7.36% |
(4.73%) |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
No |
|
LITIGATION
DETAILS |
|
|
CHENNAI COURT CASE STATUS INFORMATION SYSTEM |
|
|
Case Status: |
Pending |
|
Status Of: |
ORIGINAL APPLICATION |
|
Case No.: |
298 |
|
Year : |
2014 |
|
Petitioner : |
M/S. SERVOMAX INDIA LTD |
|
Respondent : |
M/S. MARG LIMITED |
|
Pet's Advocate : |
M/S.A.S.KAILASAM AND ASSO |
|
Res's Advocate : |
M/S.K.RAJASEKARAN |
|
Category : |
Section 9 |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Jun 2 2014 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans From Other Companies** |
111.500 |
0.000 |
|
SHORT-TERM
BORROWINGS |
|
|
|
From Banks and
Financial Institutions: |
|
|
|
Loans From Other Companies |
84.800 |
0.000 |
|
Loans From Directors |
87.400 |
0.000 |
|
|
|
|
|
Total |
283.700 |
0.000 |
Notes:
** Brought in as promoter's contribution of sacrifice on
restructuring of working capital limits for EPC Division of the company from
consortium of the bank and sub-ordinate to such limits.
FINANCIAL RESULTS:
During the Financial Year 2012-13, total revenue of the Company stands at Rs. 8335.400 Millions as against Rs. 15800.000 Millions in the previous year. The EBDIT is Rs. 406.600 Millions, compared to previous year of Rs. 2146.400 Millions. The Company incurred a loss before tax of Rs. 600.300 Millions and a net loss of Rs. 360.300 Millions during the financial year ended March 31, 2013 as compared to a profit before tax of Rs. 1626.100 Millions and a net profit of Rs. 1104.900 Millions in the previous year. This is primarily due to economic slowdown, depressed markets, increase in interest costs and cost of raw materials.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Business Verticals
Overview, Business Segment Review and Outlook
EPC VERTICAL
The FY12-13 was a challenging phase and emerged as a year of consolidation for project execution and other business aspects. Despite, the Company faced the hurdles with grit and determination to realize the larger vision of the organization. Unexecuted EPC order book is at Rs. 38000.000 Millions as of March 2013 constituted by 19% for Group assets like Port, Mall and others and 81% for external customers including 45% for civil work for group’s projects for residential and external customers and 36% for Government, PSU and other Corporate EPC customers. Tenders worth around Rs. 20000.000 Millions are in bidding stage.
MARG EPC division has signed agreement with Momentum Group, an Irish-registered Company established in 1983 with its headquarters in Dubai, which qualifies MARG to foray into off and on-shore oil and gas sector. The Momentum Group actively markets well drilling and program engineering services providing total drilling operations management for jack-up, land drilling and pipeline projects all over the world. Some of their most recent projects and services being in the Caspian region (Azerbaijan, Russia, Turkmenistan), Far East (Malaysia), Middle East (UAE, Iraq, Kuwait), Turkey and North Africa (Egypt).
MARG is in the process of building a healthy pipeline of additional EPC contracts - bidding for mega contracts in the specialized areas like marine, industrial projects, urban infrastructure and solar and alternate energy sector.
Apart from this, recent approvals obtained for residential projects, infusion of funds into MARG Junction; Launch of Service Apartments will increase the EPC division’s turnover from MARG in the forthcoming year.
The EPC division which was catering to the need of in-house and external projects has successfully handed over Pushpadrum Residential Project and is in the process of handing over its other residential project MARG Vishwashakthi at Tirupathi. Twin Disk project is completed and full-fledged development of MARG Institue of Technology Science is being done in Swarnabhoomi. On completion of Berths and allied Infrastructure, Edible Oil and Molasses Tank farms, Marine Loading and Unloading arms, Truck loading system execution is now focused and is nearing completion on construction of break waters, Stacker Cum Reclaimer, Wagon Loading System, Ship Unloaders and Conveying System in Karaikal Port. The external project team has completed wagon fabrication work for Braithwaite Company Limited, Jhansi I and II for Northern Central Railways. Multi Storied Residential project for BHEL is completed and Residential project for HUDA in Rewari, Haryana, as well as 200 bedded Cardiothoracic Hospital for Military Engineering Services is nearing completion in Northern Region.
MARG EPC has been appreciated for safety practices, a notable achievement as the present accident frequency across all project sites is 0.25, as per Indian Standard: 3786-1983.
Some of the prestigious projects include construction of headquarters for Bureau of Police Research and Development (BPR and D), National Crime Bureau (NCRB) and allied works at Mahipalpur, New Delhi from NBCC. Other projects include medium format assignments like construction of a school and miscellaneous city beautification work at Mahe, awarded by Government of Puducherry and Construction of Facilities for Research in Experimental Nuclear Astrophysics (FRENA) laboratories for Dept. of Atomic Energy, at Kolkata.
Port
Karaikal Port – a deep draft, all weather port is owned and operated by Karaikal Port Private Limited - a subsidiary of MARG Limited. The Port is now in the fifth successful year of operations. The Port has handled 6.61 MMT of cargo in Financial Year 2013 as against 6.01 MMT in Financial Year 2012, which is a straight 9.98 per cent increase. Revenue for the Financial Year 2013 went up by 25.14 per cent, from Rs. 2213.500 Millions to Rs. 2770.000 Millions. EBIDTA for the Financial Year 2013 is Rs. 1330.000 Millions and Rs. 1000.000 Millions for Financial Year 2012, recording a rise of 33 per cent. This year, the port successfully handled MV Yasa Fortune with a parcel size of 74,583 MT in July 2012, the largest vessel handled so far at the Port. During FY13, handled 1,231 rakes as against 1,087 rakes handled in FY12. A total of 3,090 rakes have been handled since the commencement of railway operations. The company has entered into contracts with many major cement companies like Chettinad Cement, Dalmia Cement, Madras Cements and The India Cements for handling their coal imports. Karaikal Port added new cargos to the portfolio like Fire clay, Lime Stone, Iron Ore, Wheat and Maize and efforts will continue to bring in additional cargos to the port. With the iron ore mining ban in Karnataka, JSW has started importing domestic iron ore in the forms of fines and lumps for its Mecheri Plant through Karaikal Port. The cargo is expected to continue through the next year as well. With the government’s decision to export the surplus wheat, it has contributed a total volume of 172,000 MT in FY13 and significant volumes will flow in the next year as well. Maize is another significant addition to the cargo portfolio in the recent times and is expected to add traffic to the port in the coming year too. Terminalisation opportunities are being explored for Coal Terminal, Liquid cum General Cargo Terminal, LNG Terminal and Container Terminal. Port has created lot of interest among national and international bulk cargo traders.
Karaikal Port Chosen as the ‘Innovative Port of the Year’ at South East CEO Conclave and Awards, 2012.
Karaikal Port adjudged as the 'Best Project' under the Port Development category at the prestigious 'D and B – AXIS BANK INFRA AWARDS 2012', Mumbai. Management Discussion and Analysis Report
Karaikal Port bagged the ‘Most admired and emerging infrastructure company in transport sector’ award at the 5th KPMG Infrastructure Today Awards’ 2013.
SEZ
MARG is developing two special economic zones in the field of Engineering Services and Multi Services spread over 612 acres as part of ‘MARG Swarnabhoomi – The Land of New Thinking’. This Project is developed by New Chennai Township Private Limited, a wholly owned subsidiary. MARG Swarnabhoomi is located on the scenic East Coast Road, midway between Chennai and Puducherry.
Engineering Services SEZ is promoted at MARG Swarnabhoomi with the objective of attracting clients in various segments like Auto Components, Fasteners, Valves, Pumps, Power components, Electronic components, Electronic meters, Renewable Energy, etc. M/s Grundfos Pumps, M/s Virgo Engineers, M/s P.H. Hydraulics and Pneumatics, M/s Eswari Electricals, M/s Kwik patch Limited and M/s Twin Disc (Far East) Pte Limited are operating in Engineering services SEZ. M/s Tecpro Energy Systems has registered lease deed and is in advanced stages of setting up their premises in MARG Swarnabhoomi. Total exports from the engineering SEZ in FY-12-13 was Rs.526.900 Millions.
The Multi Services SEZ is promoted in MARG Swarnabhoomi to attract clients in various segments like IT/ITES, Knowledge Hub, BPO, KPO, Animation, Medical Tourism, R and D, Publishing etc. M/s Biophenolika Polymers Private Limited, an Indian unit of Italian firm Cimteclab, a research and development company with international manufacturing facilities specialized in the field of high performance polymers, biopolymers, protective coatings, and flame retardants have signed an agreement to set up their premises at the Multi Services SEZ. Swarnabhoomi Academy of Music (SAM) is the first professional college of music in India offering a range of programs in contemporary music that includes rock, jazz, classical and world music. Till Date 397 cumulative Diploma and Camp students from 6 countries have been in enrolled in SAM. SAM has signed the Initial twining partner agreement with McNally Smith an international music school based out of Minnesota. SAM is also awaiting the international experience agreement from McNally. The construction of the Science and Technology Park with world class amenities is in full swing and 60% of the project is completed.
On the education front, ‘Swarnabhoomi Academic Institutions’ (SAI) is functioning in MARG Swarnabhoomi. The Knowledge based ecosystem is a unique differentiator for MARG Swarnabhoomi wherein it houses institutions catering to basic education, higher education and vocational skills training institutes. MARG Navjyothi Vidyalaya School is operational in Swarnabhoomi with a count of 400 students. The school is affiliated with CBSE and fully equipped with Audio/Science and Math lab and offers courses up to 10th Std. MARG Institute of Design and Architecture Studies (MIDAS) operating in Swarnabhoomi offers two-five year undergraduate programs - Bachelor of Architecture and Bachelor of Architecture Interior Design and is affiliated to Anna University. 80 students have enrolled in the course offered by MIDAS in 2012-13 and the total number of students stands at 135. MOU with Central Institute of Technology, Australia and ITEES, Singapore is signed for multidisciplinary vocational and hospitality programs respectively. As part of 300 acres Educity- new institutions and programs will be introduced by 2014-15, which include a Management College, an AICTE approved engineering College and an Arts and Science degree college.
Outlook
The infrastructure industry is expecting a marginal improvement in this year, after suffering a major setback. The Government of India has taken measures to stabilize the economy and revive the sentiments which are expected to have positive effects for the economy in medium to long term. The slow growth in the infrastructure sector was primarily driven by a range of sector-specific issues, such as land acquisition, environmental clearances, high interest rate regime and macro-economic factors. The Company is prepared to capture the growth in the high end, focused to meet the challenges and is committed to deliver the best in adding value to the company.
Financial Performance
During the year, The financial highlights are:
• The income from operations was Rs. 7615.400 Millions in FY 2012-2013
• The EBDIT was Rs. 406.600 Millions in FY 2012-13
• The Company incurred a Net Loss of Rs. 360.300 Millions in FY 2012-13
While the assets created by MARG are poised for growth and value creation in the long run, due to the present economic situation and allied reasons, there is a temporary cash-flow mismatch. This has put some pressure on the current liquidity situation in MARG and its ability to service debts. Managing this temporary cash-flow mismatch will go a long way in ensuring that the value creation envisaged by all the projects in the mid and longer term are intact.
As part of the initiatives to achieve this, the Company has discussed with all the bankers and bilaterally renegotiated most of the loans with principal / interest moratorium and extended repayment period, matching the cash flow generation capabilities of the Company. Further, Management has also tightened up more the cost monitoring initiatives by ensuring that optimum levels of resources are deployed, leveraging maximum efficiency. These measures have improved the cash flow position and has also allowed the Management to concentrate on the business development and execution.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10487120 |
26/03/2014 |
336,000,000.00 |
Indian Bank |
HARBOUR BRANCH, 66, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
C01205038 |
|
2 |
10437280 |
22/06/2013 |
105,338,531.00 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B79783361 |
|
3 |
10437276 |
22/06/2013 |
108,837,414.00 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B79782884 |
|
4 |
10437278 |
22/06/2013 |
141,117,112.00 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B79783213 |
|
5 |
10437277 |
22/06/2013 |
141,512,454.00 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B79782983 |
|
6 |
10437275 |
22/06/2013 |
233,194,489.00 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B79782652 |
|
7 |
10413407 |
28/03/2014 * |
3,234,500,000.00 |
Indian Overseas Bank |
INDIAN OVERSEAS BANK, NO.98A, RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMIL NADU - 600004, INDIA |
C02888881 |
|
8 |
10405448 |
01/02/2013 |
3,565,000,000.00 |
INDIAN BANK |
HARBOUR BRANCH, NO.66, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
B68771039 |
|
9 |
10404414 |
28/03/2014 * |
1,191,300,000.00 |
ORIENTAL BANK OF COMMERCE |
MYLAPORE BRANCH, NO.63, DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMIL NADU - 600004, INDIA |
C04052197 |
|
10 |
10404297 |
07/06/2013 * |
1,847,800,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, ANNA THEATRE
BUILDING, NO.41, MOUNT ROAD, CHENNAI, TAMIL NADU - 600002, |
B76870344 |
|
11 |
10395339 |
29/12/2012 |
150,000,000.00 |
INDIAN OVERSEAS BANK |
COMMERCIAL AND INSTITUTIONAL CREDIT BRANCH, NO.98 A, DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMIL NADU - 600004, INDIA |
B65280323 |
|
12 |
10388764 |
04/02/2013 * |
200,000,000.00 |
IFCI VENTURE CAPITAL FUNDS LIMITED |
IFCI TOWER, NO 61,NEHRU PLACE,, NEW DELHI, DELHI - 110019, INDIA |
B67669358 |
|
13 |
10381255 |
03/10/2012 |
100,000,000.00 |
INDIAN OVERSEAS BANK |
COMMERCIAL AND INSTITUTIONAL CREDIT BRANCH, NO.98A, DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMIL NADU - 600004, INDIA |
B59973099 |
|
14 |
10351822 |
26/03/2012 |
150,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
INDUSTRIAL FINANCE BRANCH, 110, RAHEJA TOWERS, 177, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
B38253282 |
|
15 |
10327664 |
30/12/2013 * |
239,904,102.37 |
Pegasus Group Twenty Three Trust - I - Pegasus Ass |
55-56, 5TH FLOOR, FREE PRESS HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B97283535 |
|
16 |
10336276 |
29/07/2013 * |
121,724,000.00 |
The State Bank of Hyderabad |
MAIN BRANCH, OPP : MUNICIPAL CORPORATION, PMR COMPLEX, TIRUPATHI, ANDHRA PRADESH - 517501, INDIA |
B85434421 |
|
17 |
10313441 |
18/04/2012 * |
100,000,000.00 |
INDIAN OVERSEAS BANK |
COMMERCIAL AND INSTITUTIONAL CREDIT BRANCH,, 98A, DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMILNADU - 600004, INDIA |
B38821294 |
|
18 |
10295389 |
16/05/2013 * |
400,000,000.00 |
SICOM LTD |
SOLITAIRE CORPORATE PARK, BUILDING NO.4, 5TH FLOOR, GURU HARGOVINDJI ROAD, CHAKALA, ANDHERI (E), MUMBAI, MAHARASHTRA - 400093, INDIA |
B76634054 |
|
19 |
10271489 |
14/03/2011 * |
720,000,000.00 |
Standard Chartered Bank |
SME BANKING, NO. 19, 2ND FLOOR, RAJAJI SALAI ROAD, PARRY'S, CHENNAI, TAMIL NADU - 600001, INDIA |
B08293623 |
|
20 |
10225233 |
23/06/2010 |
1,650,000,000.00 |
ICICI BANK LTD |
110, PRAKASH PRESIDIUM, NUNGAMBAKKAM HIGH ROAD, N UNGAMBAKKAM, CHENNAI, TAMIL NADU -600034, INDIA |
A87973251 |
* Date of charge modification
AUDITED FINANCIAL
RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2014
(Rs. In Millions)
|
Sr. |
Particulars
|
Quarter
Ended |
Quarter
Ended |
|
|
No. |
||||
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||
|
|
Income from operations |
|
|
|
|
|
Net Sales/Income from Operations |
714.500 |
726.900 |
304.600 |
|
|
Other operating income |
|
|
|
|
|
Total Income from Operations (Net) |
714.500 |
726.900 |
3046.600 |
|
|
|
|
|
|
|
|
Expenditure |
|
|
|
|
|
Cost of materials consumed |
437.500 |
584.400 |
2212.200 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
146.400 |
67.300 |
447.100 |
|
|
Employee benefits expenses |
26.400 |
17.300 |
70.000 |
|
|
Depreciation and amortization expenses |
27.700 |
28.600 |
114.200 |
|
|
Other expenses |
737.900 |
37.800 |
870.800 |
|
|
Total Expenses |
1375.900 |
735.400 |
3714.300 |
|
|
|
|
|
|
|
|
Profit From Operations before Other Income, Interest and
Exceptional Items (1-2) |
(634.400) |
(8.500) |
(667.700) |
|
|
Other Income |
12.100 |
17.100 |
41.700 |
|
|
Profit from Ordinary Activities before Finance Cost and
Exceptional Items (3+4) |
(622.300) |
8.600 |
(626.000) |
|
|
Finance Cost |
864.400 |
244.700 |
1719.100 |
|
|
Profit From Ordinary Activities after finance cost but
before Exceptional Items (5-6) |
(1486.700) |
(236.100) |
(2345.100) |
|
|
Exceptional Items |
|
|
|
|
|
Profit /(Loss) from ordinary activities before tax (7-8) |
(1486.700) |
(236.100) |
(2345.100) |
|
|
Tax Expense |
564.800 |
(76.300) |
292.900 |
|
|
Net Profit/ (Loss) from ordinary activities after tax
(9-10) |
(2051.500) |
(159.800) |
(2638.000) |
|
|
Extraordinary item |
|
|
|
|
|
Net Profit/ (Loss) for the period (11-12) |
(2051.500) |
(159.800) |
(2638.000) |
|
|
Paid-up Equity
Share Capital (Rs. 5/- Per Share) |
381.200 |
381.200 |
381.200 |
|
|
Reserves Excluding Revaluation Reserve per Balance Sheet
of the previous accounting year |
|
|
3873.600 |
|
|
EPS before
Extraordinary items |
|
|
|
|
|
Basic |
(53.83) |
(4.19) |
(69.21) |
|
|
Diluted |
(53.83) |
(4.19) |
(69.21) |
|
|
|
|
|
|
|
|
EPS after
Extraordinary items |
|
|
|
|
|
Basic |
(53.83) |
(4.19) |
(69.21) |
|
|
Diluted |
53.83) |
(4.19) |
(69.21) |
|
|
|
|
|
|
|
|
Public Shareholding |
|
|
|
|
|
-Number of Shares |
25209071 |
22245310 |
25209071 |
|
|
- Percentage of Shareholding |
66.13% |
58.36% |
66.13% |
|
|
Promoters and Promoter Group Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
12289482 |
15253243 |
12289482 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
95.19% |
96.09% |
95.19% |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
32.24% |
40.01% |
32.24% |
|
|
b) Non Encumbered |
|
|
|
|
|
- Number of Shares |
620373 |
620373 |
620373 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
4.81% |
3.91% |
4.81% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of
the Company) |
1.63% |
1.63% |
1.63% |
|
B |
INVESTOR COMPLAINTS |
3 months ended 31st March 2014 |
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
Nil |
|
|
Disposed of during the quarter |
Nil |
|
|
Remaining unresolved at the end of the quarter |
Nil |
Notes:
- The above results reviewed by the Audit Committee were approved by the Board of Directors at their meeting held on 30-May-14.
- Previous period's figures are regrouped/rearranged wherever necessary
- Earnings per Share (EFS) is calculated using Weighted Average Method
- Company has carried out the assessment of impairment of assets and there is no impairment of assets as defined in Accounting Standard – 28
- Figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.
- The company has not charged interest during the year on loans given by it to its wholly owned subsidiary. This is a change in the accounting policy.
STATEMENT OF ASSETS AND LIABILITIES
(Rs. In Millions)
|
SOURCES
OF FUNDS |
As
at 31.03.2014 |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
Share Capital |
381.200 |
|
Reserves & Surplus |
3873.600 |
|
Sub-total |
4254.800 |
|
|
|
|
(2) Non-Current Liabilities |
|
|
long-term borrowings |
5418.200 |
|
Deferred tax liabilities (Net) |
91.000 |
|
Other long term liabilities |
1579.100 |
|
long-term provisions |
8.200 |
|
Sub-total |
7096.500 |
|
|
|
|
(3) Current Liabilities |
|
|
Short term borrowings |
2230.500 |
|
Trade payables |
2595.200 |
|
Other current liabilities |
6727.100 |
|
Short-term provisions |
127.900 |
|
Sub-total |
11680.700 |
|
|
|
|
TOTAL |
23032.000 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
Fixed Assets |
1623.500 |
|
Non-current Investments |
5686.700 |
|
Deferred tax assets (net) |
0.000 |
|
Long-term Loan and Advances |
2707.900 |
|
Other Non-current assets |
0.000 |
|
Sub-total |
10018.100 |
|
|
|
|
(2) Current assets |
|
|
Current investments |
0.800 |
|
Inventories |
1632.000 |
|
Trade receivables |
3582.600 |
|
Cash and cash equivalents |
160.700 |
|
Short-term loans and advances |
7637.800 |
|
Other current assets |
0.000 |
|
Total
Current Assets |
13013.900 |
|
|
|
|
TOTAL |
23032.000 |
FIXED ASSETS
TANGIBLE ASSETS
- Land
- Building
- Plant and Machinery
- Electrical Equipment and Fittings
- Furniture and Fixtures
- Office Equipment
- Motor Vehicles
INTANGIBLE ASSETS
- Computer Software
PRESS RELEASES
MARG BAGS THREE OF
CONSTRUCTION INDUSTRY’S BIGGEST AWARDS DURING FEB-MARCH 2013
- MARG Karaikal Port adjudged as the ‘Most admired emerging Infrastructure Company – Transport’ award at 5th KPMG Infrastructure Today Awards’ 2013
- GRK Reddy, CMD – MARG Group chosen as ‘Industry Doyen’ at CIDC Vishwakarma Awards 2013
- MARG Limited chosen as ‘Best Professionally Managed Company’ at CIDC Vishwakarma Awards 2013
Chennai, March 22, 2013: MARG Group, one of India's leading infrastructure companies announced that it has bagged 3 prestigious Infra awards in quick succession. During the period of Feb-March 2013, the Group bagged 3 prestigious awards thereby once again reiterating the credentials that MARG has established in the industry.
In the recently concluded 5th CIDC Vishwakarma Awards 2013, CIDC, New Delhi - an apex body set up by the Planning Commission of India handing handed out the most prestigious set of awards that recognize and facilitate achievers in the construction sector, GRK Reddy, CMD MARG GROUP was chosen as ‘Industry Doyen’ for his exemplary contribution to the construction sector through adoption of path breaking technologies, best practices, people management and CSR initiatives.
Also, MARG Ltd was chosen as ‘Best Professionally Managed Company’ for exhibiting professionalism across its operation. The awards are an embodiment of encouraging truly successful efforts from individuals and organizations that have made a mark on the present Indian Construction Industry in terms of delivering better outputs, processes and creating higher benchmarks for construction industry to help in nation building.
CIDC selects the winners through a stringent systematic process involving site visits and personal interaction with key functionaries of the organisation.
These two awards were followed by another laurel for MARG in the form of the prestigious 5th KPMG Infrastructure Today Awards’ 2013.This annual award event organized by Infrastructure Today in association with KPMG recognizes excellence in infrastructure sector. MARG Karaikal Port was adjudged as ‘Most admired emerging Infrastructure Company’ for its excellent performance and growth in transport segment. The selection to these awards goes through an extensive industry survey conducted by Infrastructure Today followed by elaborate discussions and voting by a panel of eminent jury from the construction sector.
While commenting on MARG’s feat at the prestigious industry forums, GRK Reddy, Chairman and Managing Director, MARG Group said that “The three biggest awards in construction sector to MARG within a short span is a reaffirmation of our innovative business models, managerial practices and systems and an unwavering customer focus. Also, it acknowledges our continuous endeavor towards excellence in operations through concerted efforts for achieving high standards of productivity.”
Mr. Reddy further added, “We have a rich base of satisfied customers which is growing year-on-year. MARG Karaikal port has a prestigious client base which reflects a diversified cargo-mix .Our real estate customers are now more than 4000 and we have built a strong real estate brand. MARG EPC has a number of international technology partners to bolster its technical competence, a cross-industrial widespread customer base and has deployed machinery and equipment worth more than Rs 260 crores. MARG Group is thus well aligned with business needs and over the last year we have re-engineered our financial and business requirements to the economic and business realities”.
ABOUT THE AWARDS:
CIDC Vishwakarma
Awards
CIDC Vishwakarma Award is an award that has become an epitome for motivating individuals and organizations to raise their performance in their specific domain leading to significant contribution for the growth and development of the Indian Construction Industry. The awards were presented at a glitering award ceremony held on 7th March 2013 at India Habitat Centre, New Delhi.
Construction Industry Development Council (CIDC), the apex body set up by the Planning Commission of India and the Construction Industry.
MARG KARAIKAL PORT
BAGS
‘MOST ADMIRED
EMERGING INFRASTRUCTURE COMPANY – TRANSPORT’ AWARD at the prestigious
5TH KPMG
INFRASTRUCTURE TODAY AWARDS’ 2013
~ Award bestowed by KPMG, the world's leading source of global business information ~
~ Recognition to MARG Karaikal Port’s achievements in infrastructure development and its contribution to economic growth ~
~Awarded in appreciation of the value added offering of total integrated logistics services to its EXIM customers~
Karaikal, March 12, 2013: MARG Karaikal Port, a subsidiary of Chennai headquartered MARG Group, was selected as the ‘Most admired emerging Infrastructure Company’ under ‘transport’ category at the ‘KPMG-Infrastructure Today Awards 2013.’
The annual award organized by Infrastructure Today, India's premier magazine for nation builders, in association with KPMG, recognizes excellence in infrastructure sectors. MARG Karaikal Port was adjudged as Most admired emerging Infrastructure Company for its excellent performance and growth in transport segment, in the past year. Gracing the occasion as Chief Guest was the Minister for Urban Development, Mr. Kamal Nath who presented the award to MARG Karaikal Port at a glittering ceremony in New Delhi, amidst 250 top practitioners.
The selection to these awards was through an extensive industry survey conducted by Infrastructure Today, after which a short list was arrived at. The jury comprising of eminent personalities such as Rajeev Sinha, Wholetime Director, Mundra Ports and SEZ; Ramesh Chandak, Managing Director and CEO, KEC International Ltd.; Sunil Kanoria, Vice Chairman, SREI Infrastructure Finance Ltd; Tilak Raj Sheth, Head Infrastructure, Siemens went through elaborate discussions and voting to finally select the winners.
Commenting on this recognition to MARG Karaikal Port, GRK Reddy, Chairman and Managing Director - MARG Group said “MARG Karaikal Port is one of the finest ports on the South East Coast of India with strong project fundaments and best-in-class operation metrics. With the region around the port envisaged to attract more than USD 10 billion of investments in the next decade, MARG Karaikal Port has fast emerged as the trade gateway of Central Tamil Nadu and Puducherry. The award evaluated by no less a reputed entity than KPMG is testimony to the giant strides that the port has taken in recent times and the fact that it is the only port in India that offers in-house logistics solutions” .
The award to MARG Karaikal Port in the transport segment is in appreciation to the value added offering of total integrated logistics services to its EXIM customers. Meeting customer satisfaction, maximizing operational efficiency and providing precise and time sensitive services have been the underling factor behind winning this prestigious award. In house logistics started the road transportation service as a value addition to ensure that cargo importers are confident about timely evacuation and movement of cargo from port to their locations. Moreover MARG Karaikal Port is the only port in India to have in-house logistic solutions.
Commenting on the recognition, M.L.N. Acharyulu, Executive Director- Marine Infrastructure at MARG, said “It has been our endeavour to pass on the resultant economies of scale to our valued customers who today represent a diverse cargo mix. Going forward, MARG Karaikal Port is confident of setting higher standards of performance in every sphere of its operation. Higher discharge rates, no pre-berthing delays, faster turnaround times and savings in the integrated logistics costs vis-ŕ-vis competing ports, have helped the port in attracting almost all major customers in the Central Tamil Nadu/ Puducherry region."
MARG Karaikal Port has the unique advantage of being served by 4 national highways - NH 45, NH 67, NH 45A and NH 45C. The network of National and State highways further enhances connectivity to other industrial hubs in Tamil Nadu. The Port has developed 3 private railways sidings within 6 months of commencement of operations. Rail link connects the port to major manufacturing hubs of cement, steel, chemical, aluminum and textile in Ariyalur, Trichy and Salem districts, thus ensuring heavy but smooth freight movement on the route.
About the Award:
KPMG Infrastructure Today awards were held for fifth year in a row by Infrastructure Today and KPMG India. The objective of the award is to recognize the achievements of infrastructure developers and exalting their contribution to the nation's growth.
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 records 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.59.32 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.