MIRA INFORM REPORT
|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE DHAMRA PORT COMPANY LIMITED |
|
|
|
|
Registered
Office : |
II Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.09.1998 |
|
|
|
|
Com. Reg. No.: |
15-005448 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6480.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45205OR1998PLC005448 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BBNT00131F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD0602P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in developing an all modern deep water port a
Dhamra |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
-- |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Joint Venture between Tata Steel Limited and L&T
Infrastructure Development Projects Limited. It is an established company having satisfactory track record. There
seems a huge growth in the turnover during financial year 2013. However, the
company has recorded some accumulated losses. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct as per commitment. In view of strong promoter 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 – December 1, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140
mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A- (Long Term Bank Facilities) |
|
Rating Explanation |
Adequate degree of safety. It carry low credit risk. |
|
Date |
20.08.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A2+ (Short Term Bank Facilities) |
|
Rating Explanation |
Strong degree of safety. It carry very low credit risk. |
|
Date |
20.08.2013 |
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 BY
|
Name : |
Mr. Tanmay Kumar Sahu |
|
Designation : |
Senior Manager (Finance) and Company Secretary |
|
Contact No.: |
91-674-2303829 |
|
Date : |
10.03.2014 |
LOCATIONS
|
Registered Office : |
II Floor, |
|
Tel. No.: |
91-674-2303829/ 2301680/ 2300705/ 2302676 |
|
Fax No.: |
91-674-2303828 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Yeshwant Moreshwar Deosthalee |
|
Designation : |
Director |
|
Address : |
C/401, Chaitanya Towers, 4th Floor, Appasaheb Marathe Marg,
Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
06.09.1946 |
|
Date of Appointment : |
12.05.1999 |
|
DIN No.: |
00001698 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65990MH1994PLC083147 |
L AND T FINANCE
LIMITED |
Director |
22/11/1994 |
22/11/1994 |
- |
Active |
NO |
|
2 |
L99999MH1946PLC004768 |
LARSEN AND
TOUBRO LIMITED |
Whole-time
director |
03/03/2010 |
03/03/1995 |
06/09/2011 |
Active |
NO |
|
3 |
U72900MH1996PLC104693 |
LARSEN AND
TOUBRO INFOTECH LIMITED |
Director |
23/12/1996 |
23/12/1996 |
07/05/2013 |
Active |
NO |
|
4 |
U45205OR1998PLC005448 |
THE DHAMRA PORT
COMPANY LIMITED |
Director |
12/05/1999 |
12/05/1999 |
- |
Active |
NO |
|
5 |
L26940MH2000PLC128420 |
ULTRATECH CEMENT
LIMITED |
Director |
24/08/2000 |
24/08/2000 |
15/06/2009 |
Active |
NO |
|
6 |
U67190MH2000PLC125653 |
L AND T CAPITAL
COMPANY LIMITED |
Director |
29/09/2000 |
29/09/2000 |
28/04/2010 |
Active |
NO |
|
7 |
U65993TN2001PLC046691 |
L AND T
INFRASTRUCTURE DEVELOPMENT PROJECTS LIMITED |
Director |
14/07/2001 |
14/07/2001 |
- |
Active |
NO |
|
8 |
U67190TN2006PLC059527 |
L AND T
INFRASTRUCTURE FINANCE COMPANY LIMITED |
Director |
18/04/2006 |
18/04/2006 |
- |
Active |
NO |
|
9 |
U40101MH2007PLC174071 |
L AND T POWER
DEVELOPMENT LIMITED |
Director |
12/09/2007 |
12/09/2007 |
11/11/2010 |
Active |
NO |
|
10 |
U31501MH2007PLC176667 |
L AND T
ELECTRICALS AND AUTOMATION LIMITED |
Director |
12/12/2007 |
12/12/2007 |
05/01/2010 |
Active |
NO |
|
11 |
U66030MH2007PLC177117 |
L AND T GENERAL INSURANCE
COMPANY LIMITED |
Director |
27/12/2007 |
27/12/2007 |
- |
Active |
NO |
|
12 |
L67120MH2008PLC181833 |
L AND T FINANCE
HOLDINGS LIMITED |
Managing
director |
01/12/2012 |
01/05/2008 |
- |
Active |
NO |
|
13 |
U65993MH1996PLC211198 |
L AND T MUTUAL
FUND TRUSTEE LIMITED |
Director |
16/08/2010 |
22/03/2010 |
- |
Active |
NO |
|
14 |
U45300AP2010PLC070121 |
L AND T METRO
RAIL (HYDERABAD) LIMITED |
Director |
04/08/2011 |
01/11/2010 |
- |
Active |
NO |
|
15 |
U67190MH2011PTC218046 |
L AND T INFRA INVESTMENT
PARTNERS ADVISORY PRIVATE LIMITED |
Director |
30/05/2011 |
30/05/2011 |
- |
Active |
NO |
|
16 |
U92199MH2004PTC146994 |
YOG
ENTERTAINMENT PRIVATE LIMITED |
Director |
02/11/2012 |
02/11/2012 |
- |
Active |
NO |
|
17 |
U67100MH2013PLC241104 |
L AND T INFRA
DEBT FUND LIMITED |
Director |
19/03/2013 |
19/03/2013 |
- |
Active |
NO |
|
Name : |
Mr. Sandip Biswas |
|
Designation : |
Director |
|
Address : |
15B, Tanna Residency Veer, Savarkar Marg, Mumbai-400025, |
|
Date of Birth/Age : |
07.04.1968 |
|
Date of Appointment : |
28.04.2008 |
|
DIN No.: |
00518430 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65990MH1983PLC030848 |
KALIMATI
INVESTMENT COMPANY LIMITED |
Director |
17/07/2006 |
17/07/2006 |
Active |
NO |
|
2 |
U67120MH1988PLC049872 |
RUJUVALIKA
INVESTMENTS LIMITED |
Director |
17/07/2006 |
17/07/2006 |
Active |
NO |
|
3 |
U45205OR1998PLC005448 |
THE DHAMRA PORT
COMPANY LIMITED |
Director |
28/04/2008 |
28/04/2008 |
Active |
NO |
|
4 |
U27205MH2009PLC195034 |
CENTENNIAL STEEL
COMPANY LIMITED |
Director |
19/08/2009 |
19/08/2009 |
Amalgamated |
NO |
|
5 |
U27310MH2012PLC232512 |
TATA STEEL
ODISHA LIMITED |
Director |
22/06/2012 |
22/06/2012 |
Active |
NO |
|
Name : |
Mr. Dibyendu Bose |
|
Designation : |
Director |
|
Address : |
Flat No. UD020406, Udayan The Condowlle – Udita 1050/1, |
|
Date of Birth/Age : |
20.07.1961 |
|
Date of Appointment : |
18.07.2009 |
|
DIN No.: |
00282821 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U63090WB2002PLC094134 |
TM INTERNATIONAL
LOGISTICS LIMITED |
Managing
director |
01/08/2012 |
04/02/2005 |
01/12/2013 |
Active |
NO |
|
2 |
U51109WB1991PLC051941 |
TKM GLOBAL
LOGISTICS LIMITED |
Director |
20/07/2009 |
01/02/2007 |
01/12/2013 |
Active |
NO |
|
3 |
U45205OR1998PLC005448 |
THE DHAMRA PORT
COMPANY LIMITED |
Director |
10/09/2010 |
18/07/2009 |
- |
Active |
NO |
|
4 |
U61100WB2009FTC138168 |
TM HARBOUR
SERVICES PRIVATE LIMITED |
Director |
02/09/2009 |
02/09/2009 |
20/05/2010 |
Active |
NO |
|
5 |
U67120WB1893NPL000761 |
THE BENGAL
CHAMBER OF COMMERCE AND INDUSTRY |
Director |
23/09/2013 |
23/09/2013 |
- |
Active |
NO |
|
6 |
U24111JH1995PLC009020 |
JAMIPOL LIMITED |
Director |
22/01/2014 |
22/01/2014 |
- |
Active |
NO |
|
Name : |
Mr. Derek Michael Shah |
|
Designation : |
Director |
|
Address : |
Flat 2E, Shivala 25A, Ballygunge Park, Kolkata-700019, West Bengal,
India |
|
Date of Birth/Age : |
18.02.1965 |
|
Date of Appointment : |
29.04.2013 |
|
DIN No.: |
06526950 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45205OR1998PLC005448 |
THE DHAMRA PORT COMPANY
LIMITED |
Director |
04/07/2013 |
29/04/2013 |
Active |
NO |
|
2 |
U45205WB1999PTC090733 |
INTERNATIONAL
SEAPORTS (HALDIA) PRIVATE LIMITED |
Director |
30/08/2013 |
26/07/2013 |
Active |
NO |
|
Name : |
Mr. Arun Misra |
|
Designation : |
Director |
|
Address : |
House No.27, Iubilee Officers Flat, Charea Bistu Pur Jamshedpur,
Jharkhand, India |
|
Date of Birth/Age : |
08.05.1965 |
|
Date of Appointment : |
29.04.2013 |
|
DIN No.: |
01835605 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L27102OR1982PLC001091 |
TATA SPONGE IRON
LIMITED |
Director |
14/07/2008 |
16/10/2007 |
26/11/2012 |
Active |
NO |
|
2 |
U45200JH2003PLC010315 |
JAMSHEDPUR
UTILITIES AND SERVICES COMPANY LIMITED |
Director |
25/07/2013 |
25/04/2013 |
- |
Active |
NO |
|
3 |
U45205OR1998PLC005448 |
THE DHAMRA PORT
COMPANY LIMITED |
Director |
04/07/2013 |
29/04/2013 |
- |
Active |
NO |
|
4 |
U75132OR2004NPL007530 |
JAJPUR CLUSTER
DEVELOPMENT |
Nominee director |
28/09/2013 |
28/09/2013 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Anil Kumar Kar |
|
Designation : |
Manager |
|
Address : |
B-104, Falcon Residency, Kiit Square, Chandrasekharpur, Bhubaneswar,
Kiiurda-751024, Odisha, India |
|
Date of Birth/Age : |
10.10.1953 |
|
Date of Appointment : |
06.05.2010 |
|
PAN No.: |
AFVPK2327Q |
|
|
|
|
Name : |
Mr. Tanmay Kumar Sahu |
|
Designation : |
Senior Manager (Finance) and Company Secretary |
|
Address : |
M-13, Netaji Subhas Enclave Gadakan Chandrasekharpur, Bhubaneswar,
Khurda, Odisha, India |
|
Date of Birth/Age : |
15.07.1974 |
|
Date of Appointment : |
14.08.2006 |
|
PAN No.: |
ALIPS8677E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
K Venkatesh |
5 |
0.00 |
|
T V Kathikeyan |
5 |
0.00 |
|
|
10 |
0.00 |
|
Sharad Goel |
10 |
0.00 |
|
Anil Kumar Mehta |
5 |
0.00 |
|
Hrusikesh Biswal |
5 |
0.00 |
|
L&T Infrastructure
Development Projects Limited |
323,999,960 |
50.00 |
|
Tata Steel Limited, India |
324,000,000 |
50.00 |
|
Total |
648,000,000 |
100.00 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in developing an all modern deep water port a
Dhamra |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor,
Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai-400025,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins & Sells Chartered Accountant |
|
Address : |
Tower - 3, 27Th - 32Nd Floor, Indiabulls Finance Centre, Elphinstone
Mills Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai, Maharashtra,
India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Related Parties : |
Tata Steel Limited CIN No.:- L27100MH1907PLC000260 |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000000 |
Equity Shares |
Rs.10/- each |
Rs. 11000.000 Millions |
|
800000000 |
Preference Shares |
Rs.10/- each |
Rs. 8000.000 Millions |
|
|
TOTAL |
|
Rs. 19000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
648000000 |
Equity Shares |
Rs.10/- each |
Rs. 6480.000
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1100000000 |
Equity Shares |
Rs.10/- each |
Rs. 11000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
648000000 |
Equity Shares |
Rs.10/- each |
Rs. 6480.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6480.000 |
6480.000 |
6480.000 |
|
(b) Reserves & Surplus |
(8012.300) |
(4612.800) |
(31.900) |
|
(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) |
(1532.300) |
1867.200 |
6448.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33447.000 |
28864.200 |
25596.300 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1164.600 |
41.100 |
0.000 |
|
(d) long-term
provisions |
16.400 |
12.200 |
5.200 |
|
Total Non-current
Liabilities (3) |
34628.000 |
28917.500 |
25601.500 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1451.900 |
342.700 |
19.200 |
|
(c) Other
current liabilities |
1247.600 |
4713.100 |
3153.200 |
|
(d) Short-term
provisions |
1.900 |
0.400 |
1.100 |
|
Total Current
Liabilities (4) |
2701.400 |
5056.200 |
3173.500 |
|
|
|
|
|
|
TOTAL |
35797.100 |
35840.900 |
35223.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
32230.800 |
31794.300 |
56.800 |
|
(ii)
Intangible Assets |
49.200 |
62.900 |
22.700 |
|
(iii)
Capital work-in-progress |
233.800 |
1321.200 |
26393.400 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
14.800 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
846.300 |
883.100 |
852.300 |
|
(e) Other
Non-current assets |
210.300 |
146.300 |
6598.900 |
|
Total Non-Current
Assets |
33570.400 |
34207.800 |
33938.900 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
123.700 |
|
(b)
Inventories |
121.000 |
97.600 |
0.000 |
|
(c) Trade
receivables |
224.700 |
179.700 |
0.000 |
|
(d) Cash
and cash equivalents |
108.600 |
385.900 |
487.000 |
|
(e)
Short-term loans and advances |
449.600 |
653.300 |
607.900 |
|
(f) Other
current assets |
1322.800 |
316.600 |
65.600 |
|
Total
Current Assets |
2226.700 |
1633.100 |
1284.200 |
|
|
|
|
|
|
TOTAL |
35797.100 |
35840.900 |
35223.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5024.500 |
1950.600 |
0.000 |
|
|
|
Other Income |
35.000 |
27.400 |
0.300 |
|
|
|
TOTAL (A) |
5059.500 |
1978.000 |
0.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
2548.400 |
1639.100 |
0.000 |
|
|
|
Employee benefits expenses |
150.800 |
121.600 |
5.900 |
|
|
|
Other Expenses |
286.500 |
317.700 |
4.500 |
|
|
|
TOTAL (B) |
2985.700 |
2078.400 |
10.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2073.800 |
(100.400) |
(10.100) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4018.200 |
3200.600 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1944.400) |
(3301.100) |
(10.100) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1455.100 |
1279.900 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(3399.500) |
(4580.900) |
(10.100) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(3399.500) |
(4580.900) |
(10.100) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.25) |
(7.07) |
(0.02) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(67.19)
|
(231.59) |
(3366.67) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(67.66)
|
(234.85) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.56)
|
(13.27) |
(0.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.22
|
(2.45) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(21.83)
|
15.46 |
3.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82
|
0.32 |
0.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
6480.000 |
6480.000 |
6480.000 |
|
Reserves & Surplus |
-31.900 |
-4612.800 |
-8012.300 |
|
Net
worth |
6448.100 |
1,867.200 |
-1,532.300 |
|
|
|
|
|
|
long-term borrowings |
25596.300 |
28864.200 |
33447.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
25,596.300 |
28,864.200 |
33,447.000 |
|
Debt/Equity
ratio |
-1.007 |
15.459 |
-21.828 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
0.000 |
1950.600 |
5024.500 |
|
|
|
#DIV/0! |
157.587 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
0.000 |
1950.600 |
5024.500 |
|
Profit |
-10.100 |
-4580.900 |
-3399.500 |
|
|
#DIV/0! |
-234.85% |
-67.66% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
----- |
|
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 |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Term Loans from Others |
4000.000 |
2700.000 |
|
Intercorporate Borrowings |
4000.000 |
3500.000 |
|
|
|
|
|
TOTAL |
8000.000 |
6200.000 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10396079 |
19/12/2012 |
304,900,000.00 |
PUNJAB NATIONAL BANK |
Large Corporate Branch, Rayala Towers 781-785, IIIrd Floor, Anna Salai,
Chennnai, Tamil Nadu - 6000 |
B65551103 |
|
2 |
10387162 |
16/09/2013 * |
2,845,100,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005,
India |
B86826419 |
|
3 |
10373938 |
28/02/2013 * |
4,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, |
B73472730 |
|
4 |
10373941 |
23/01/2013 * |
22,000,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, |
B68666684 |
|
* Date of charge modification |
||||||
OPERATIONAL
HIGHLIGHTS
During the year, there is a substantial improvement in cargo throughput.
Being the first full year of operations, achievement of more than 11 MMT
throughputs can be considered satisfactory particularly when company is not
able to fully utilize export circuit due to adverse Iron Ore export scenario.
Company has started exploring potential coastal movements from the Port.
BUSINESS OUTLOOK
FOR FY 2013-14
The cargo throughput in the current year is expected to go up considerably.
Import of cargo from Port is stable and company should be in a position to
fully utilize import circuit, however, export of iron ore scenario remains
bearish and company has to mainly depend on coastal movement of iron ore and
coal for utilizing export circuit.
FIXED ASSETS
- Land
- Furniture and Fittings
- Office Equipments
- Computer and Accessories
- Plant and Machinery
- Vehicles
- Factory Buildings
- ERP Software
WEBSITE DETAILS
NEWS
ADANI
GROUP MAY SEAL RS 7,0000.000 MILLIONS DHAMRA DEAL WITH TATA, L AND T BY
MDI-2014
AHMEDABAD, FEB
10:
The Adani Group is expected to seal the Dhamra Port deal with its
existing owners, Tata Steel and Larsen and Toubro, by mid-2014, making the private
port major enter the eastern coast of India, along the Bay of Bengal, in a big
way.
Earlier, the companies were expected to finalise the deal by March 2014
but uncertainties in the market and existing political situation forced them to
wait and watch for a few more months, market sources close to the development
told Business Line on Monday on condition of anonymity.
“The Adanis have evinced positive interest in the proposed deal,” said the
sources, adding its port operating arm, Adani Port and SEZ Limited (APSEZL), is
already working closely with them as a “management consultant”.
The delay was also due to the fact that the existing partners are
awaiting environmental and other clearances from the Central and Odisha
Governments for the port’s proposed expansion plans, as sought by the Adanis,
before the deal is finalised.
The deal between the two existing partners and Adani Port and SEZ
Limited, port arm of the Group, is expected to be worth about Rs 70000.000
Millions. However, exact valuation would be based on existing and potential
business and future expansion. Dharma Port’s current capacity is to handle 25
million tonnes per annum (mtpa) of cargo, which it plans to expand to 80 mtpa.
This port, situated in Bhadrak district of Odisha, is a 50:50 joint
venture of the Tatas and Land T, that became operational in 2010. To run the
port, they had formed the Dhamra Port Company Limited (DPCL). However, within
two years, the partners decided to discontinue its running and to put it on the
block, apparently realising that port operation was not their “core business.”
As a result, they commenced looking for a port operator company to buy
out Dhamra port and to ensure that their interests in Odisha and neighbouring
regions were protected, such as bulk movement of iron ore and coal in the case
of Tata Steel. They found the Adanis the “best suitors” for the deal.
The importance of Dhamra Port could be gauged by the fact that it would
serve the proposed $12 billion Posco Steel Plant of South Korea and for
exporting iron ore from a nearly mineral belt. Besides, Odisha also plans to
develop a shipbuilding yard, a gas-based manufacturing hub and a petro-chemical
complex, besides a Special Investment Region.
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. 61.19 |
|
|
1 |
Rs. 102.35 |
|
Euro |
1 |
Rs. 84.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.