MIRA
INFORM REPORT
|
Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
INOX AIR PRODUCTS LIMITED |
|
|
|
|
Formerly Known
As : |
INDUSTRIAL
OXYGEN COMPANY LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Ceejay House, Dr. Annie Beasant Road, Worli,
Mumbai - 400018, Maharashtra |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of Incorporation
: |
04.04.1963 |
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|
|
|
Com. Reg. No.: |
11-012625 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 103.407
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24999MH1963PLC012625 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEI00043B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI5569D |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing, Trading and Supplying of Industrial and Medical Gases viz. Oxygen, Nitrogen, Argon, Helium, Acytelene (DA), Nitrous Oxide, Speciality Gas mixtures etc. |
|
|
|
|
No. of Employees
: |
650 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 42900000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a joint venture between the Jain family (former owners of
the Industrial Oxygen Company) and Air Products and Chemicals, Inc., USA. It is a well-established and reputed company having fine track record.
Financial position of the company seems to be sound. Directors are
reported to be experienced and respectable businessmen. Over all fundamentals of the company are strong and healthy. The ratings also take into consideration the capital intensive and
competitive nature of the business. However, trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
Long term Non-Convertible Debenture : AA |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
January 22, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. More |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40323195 |
|
Date : |
10.03.2014 |
LOCATIONS
|
Registered Office : |
7th Floor, Ceejay House, Dr. Annie Besant Road, Worli,
Mumbai - 400018, Maharashtra, India |
|
Tel. No.: |
91-22-40323195/ 40323960 |
|
Fax No.: |
91-22-40323191/ 40323991 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
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|
|
|
Factory 1 : |
Raj Bhavan Road, Somajiguda, 6-3-902 / D / 202, F No.202, Durga
Apartments, Hyderabad, Andhra Pradesh, India |
|
|
|
|
Factory 2 : |
Village Kunjhal, Industrial Area, Barotiwala, District Solan-174103, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-271127/ 271128 |
|
Fax No.: |
91-1795-271115 |
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|
|
|
Sales Centres and Depots : |
Located At · Ahmedabad Andaman
and Nicobar Islands Andhra
Pradesh Bangalore Bharuch Surat Vadodara Jharkhand Bellary Bhopal Indore Alwar Bhandara Nagpur Navi
Mumbai Raigad Mumbai Pune Boisar Thane Wardha Punjab Tamilnadu Uttar
Pradesh West
Bengal |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pavan Kumar Jain |
|
Designation : |
Managing Director |
|
Address : |
Benzer Terrace, 94 Worli Sea Face, Mumbai – 4000018, Maharashtra, India |
|
Date of Birth/Age : |
17.05.1951 |
|
Qualification : |
B.E.(Chem.) |
|
Date of Appointment : |
17.10.2004 |
|
PAN No.: |
AAJPJ5851D |
|
DIN No.: |
00030098 |
|
|
|
|
Name : |
Mr. David Roy Edmondson |
|
Designation : |
Director |
|
Address : |
Lindfields Oast House Lane Farnham, United Kingdom |
|
Date of Birth/Age : |
12.01.1960 |
|
Date of Appointment : |
14.12.2011 |
|
DIN No.: |
02544317 |
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|
|
|
Name : |
Bruce Allan Schult |
|
Designation : |
Director |
|
Address : |
22, Woodgrove Avenue, Singapore 738064 |
|
Date of Birth/Age : |
05.11.1965 |
|
Qualification : |
B.Sc. and Mechanical Engineer |
|
Date of Appointment : |
22.09.2009 |
|
DIN No.: |
02796080 |
|
|
|
|
Name : |
Mr. Mark Anton Stoelinga |
|
Designation : |
Director |
|
Address : |
Flat No. 201, Building – D, Water Front, Near Gold GYM, Kalyani Nagar, Pune – 411006, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1966 |
|
Qualification : |
M.Sc. B.E.(Chem.) |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06474492 |
|
|
|
|
Name : |
Mr. Vivek Kumar Jain |
|
Designation : |
Director |
|
Address : |
47, Golf Links, New Delhi-110003, India |
|
Date of Birth/Age : |
30.08.1955 |
|
Date of Appointment : |
31.12.1984 |
|
DIN No.: |
00029968 |
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|
|
|
Name : |
Mr. Subodh Kumar Jain |
|
Designation : |
Director |
|
Address : |
36, Golf Links, New Delhi – 110003, Delhi, India |
|
Date of Birth/Age : |
02.04.1952 |
|
Date of Appointment : |
17.07.1976 |
|
DIN No.: |
00031010 |
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|
|
|
Name : |
Mr. Siddharth Jain |
|
Designation : |
Whole-time director |
|
Address : |
94, Benzar Terrace, Worli, Sea Face, Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1978 |
|
Qualification : |
B.E.(Mech.) |
|
Date of Appointment : |
20.05.2003 |
|
PAN No.: |
ACYPJ7083L |
|
DIN No.: |
00030202 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Mehra |
|
Designation : |
Company Secretary |
|
Address : |
Ceejay House, 7th Floor, Dr. A. B. Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
28.01.1954 |
|
Date of Appointment : |
02.06.2011 |
|
Pan No.: |
AAAPM1041K |
|
|
|
|
Name : |
Mr. More |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
49.74 |
|
Bodies
corporate |
49.75 |
|
Other
top fifty shareholders |
0.50 |
|
Others |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Trading and Supplying of Industrial and Medical Gases viz. Oxygen, Nitrogen, Argon, Helium, Acytelene (DA), Nitrous Oxide, Speciality Gas mixtures etc. |
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Products/ Services : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Europe China America |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
OEM’s and End Users |
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No. of Employees : |
650 (Approximately) |
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Bankers : |
· The Royal Bank of Scotland N V Level 3, 4 North Avenue, Maker Maxity, Bandra Kurla Complex, Mumbai - 400051, Maharashtra, India · Standard Chartered Bank 23, Narain Manzil, Barakhamba Road, New Delhi - 110001, Delhi, India · BNP Paribas 20, Collyer Quay, Tung Centre, Singapore - 049319, Singapore · Bank of Maharashtra 628/29 Sachpir Street, Camp Branch, Pune - 411001, Maharashtra, India · DBS Bank |
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Facilities : |
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|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Patankar And Associates Chartered Accountants |
|
Address : |
Office No. 19-23, 4th Floor, Goldwings, S. No.
118/A, Plot No. 543, Parvati Nagar, Sinhgad Road, Pune – 411030, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFP8926B |
|
|
|
|
Other Related
Parties : |
· Air Products Plc Air
Products (Middle East) FZE Air
Products and Chemicals Inc. Air
Products - Singapore Pte Limited Prodair
Corporation Air
Products Sa - NV Air
Products Gmbh Air
Products San FU Company Limited |
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Inox India Limited [U99999GJ1976PLC018945] Gujarat
Fluorochemicals Limited [L24110GJ1987PLC009362] |
|
|
|
|
Joint Venture : |
Bellary Oxygen Company Private Limited [U40200KA2005PTC036482] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
|
1,500,000 |
Preference Shares |
Rs. 100/- each |
Rs. 150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 450.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,340,697 |
Equity Shares |
Rs. 10/- each |
Rs. 103.407
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 |
103.407 |
103.407 |
103.407 |
|
(b) Reserves & Surplus |
10,628.252 |
9,167.676 |
7,423.644 |
|
(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) |
10,731.659 |
9,271.083 |
7,527.051 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1,947.424 |
2,047.563 |
1,943.996 |
|
(b) Deferred tax liabilities (Net) |
1,872.190 |
1,537.986 |
1,442.042 |
|
(c) Other long
term liabilities |
406.408 |
389.848 |
358.170 |
|
(d) long-term
provisions |
68.990 |
128.914 |
140.987 |
|
Total Non-current
Liabilities (3) |
4,295.012 |
4,104.311 |
3,885.195 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
283.625 |
0.096 |
48.691 |
|
(b)
Trade payables |
446.700 |
339.685 |
392.585 |
|
(c)
Other current liabilities |
1,278.944 |
1,267.784 |
1,180.992 |
|
(d) Short-term
provisions |
168.293 |
139.539 |
110.234 |
|
Total Current
Liabilities (4) |
2,177.562 |
1,747.104 |
1,732.502 |
|
|
|
|
|
|
TOTAL |
17,204.233 |
15,122.498 |
13,144.748 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
12,707.474 |
10,088.140 |
9,697.305 |
|
(ii)
Intangible Assets |
3.822 |
9.174 |
19.587 |
|
(iii)
Capital work-in-progress |
1,073.275 |
1,041.562 |
158.696 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
271.963 |
150.030 |
165.030 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
692.423 |
890.252 |
659.573 |
|
(e) Other
Non-current assets |
0.019 |
0.030 |
0.020 |
|
Total Non-Current
Assets |
14,748.976 |
12,179.188 |
10,700.211 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
15.000 |
0.001 |
|
(b)
Inventories |
577.311 |
478.256 |
422.533 |
|
(c)
Trade receivables |
1,096.731 |
839.812 |
943.422 |
|
(d) Cash
and cash equivalents |
164.579 |
1,124.342 |
600.217 |
|
(e)
Short-term loans and advances |
608.166 |
469.828 |
472.511 |
|
(f)
Other current assets |
8.470 |
16.072 |
5.853 |
|
Total
Current Assets |
2,455.257 |
2,943.310 |
2,444.537 |
|
|
|
|
|
|
TOTAL |
17,204.233 |
15,122.498 |
13,144.748 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7,970.863 |
7,473.671 |
7,019.223 |
|
|
|
Other Income |
148.138 |
406.207 |
106.917 |
|
|
|
TOTAL (A) |
8,119.001 |
7,879.878 |
7,126.140 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
514.262 |
595.807 |
422.011 |
|
|
|
Purchases of Stock-in-Trade |
442.974 |
434.272 |
432.224 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(18.884) |
(3.540) |
(9.240) |
|
|
|
Employees benefits expense |
712.312 |
638.249 |
564.044 |
|
|
|
Other expenses |
3,434.128 |
2,881.940 |
2,656.610 |
|
|
|
TOTAL (B) |
5,084.792 |
4,546.728 |
4,065.649 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3,034.209 |
3,333.150 |
3,060.491 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
136.338 |
162.412 |
243.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2,897.871 |
3,170.738 |
2,817.099 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
800.276 |
700.057 |
709.499 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2,097.595 |
2,470.681 |
2,107.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
768.632 |
768.465 |
627.292 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1,328.963 |
1,702.216 |
1,480.308 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
249.942 |
207.817 |
787.600 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1400.000 |
1600.000 |
2000.000 |
|
|
|
Proposed Dividend |
51.703 |
51.703 |
51.703 |
|
|
|
Tax on Dividend |
8.787 |
8.388 |
8.388 |
|
|
BALANCE CARRIED
TO THE B/S |
118.415 |
249.942 |
207.817 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.716 |
3.541 |
15.552 |
|
|
|
Other Earnings |
0.000 |
0.353 |
0.000 |
|
|
TOTAL EARNINGS |
1.716 |
3.894 |
15.552 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
155.817 |
149.352 |
143.880 |
|
|
|
Stores & Spares |
22.855 |
40.395 |
22.529 |
|
|
|
Capital Goods |
823.202 |
699.514 |
62.553 |
|
|
TOTAL IMPORTS |
1001.874 |
889.261 |
228.962 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
128.52 |
164.61 |
143.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
16.37
|
21.60 |
20.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
26.32
|
33.06 |
30.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.23
|
17.74 |
16.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.27 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.21
|
0.22 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.68 |
1.41 |
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 |
103.407 |
103.407 |
103.407 |
|
Reserves & Surplus |
7423.644 |
9167.676 |
10628.252 |
|
Net
worth |
7,527.051 |
9,271.083 |
10,731.659 |
|
|
|
|
|
|
long-term borrowings |
1943.996 |
2,047.563 |
1,947.424 |
|
Short term borrowings |
48.691 |
0.096 |
283.625 |
|
Total
borrowings |
1,992.687 |
2,047.659 |
2,231.049 |
|
Debt/Equity
ratio |
0.265 |
0.221 |
0.208 |
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 |
7,019.223 |
7,473.671 |
7,970.863 |
|
|
|
6.474 |
6.653 |
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 |
7,019.223 |
7,473.671 |
7,970.863 |
|
Profit |
1,480.308 |
1,702.216 |
1,328.963 |
|
|
21.09% |
22.78% |
16.67% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 18/10/2013 |
|
Lodging No: ITXAL/1758/2013 Filing Date: 18/10/2013 Reg. No.: ITXA/231/2014 Reg. Date: 04.01.2014 |
|
Petitioner: THE COMMISSIONER OF INCOME TAX-I,PUNE Respondent: INOX AIR PRODUCTS LIMITED Petn. Adv : VIPUL ARUN
BAJPAYEE District: PUNE |
|
Bench: DIVISION Status: Pre-Admission Category:
TAX APPEALS Last Date: 03.03.2014
Stage: FOR REJECTION (ORIGINAL SIDE MATTERS) Last Coram: ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
Act: Income Tax Act, 1961
Under Section: 260A |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10417525 |
28/03/2013 |
545,000,000.00 |
THE ROYAL BANK
OF SCOTLAND N V |
MAKER MAXITY, 4
NORTH AVENUE, BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA, INDIA |
B72519309 |
|
2 |
10401702 |
09/05/2013 * |
554,800,000.00 |
STANDARD
CHARTERED BANK |
23, NARAIN
MANZIL, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
B75322222 |
|
3 |
10277095 |
10/03/2011 |
532,200,000.00 |
BNP PARIBAS |
20, COLLYER
QUAY, TUNG CENTRE, SINGAPORE, - 049319, SINGAPORE |
B09583139 |
|
4 |
10243652 |
27/09/2010 |
135,000,000.00 |
BANK OF
MAHARASHTRA |
628/629, SACHPIR
STREET, CAMP BRANCH, PUNE - 411001, MAHARASHTRA, INDIA |
A96077201 |
|
5 |
10243568 |
27/09/2010 |
164,000,000.00 |
BANK OF
MAHARASHTRA |
628/629, SACHPIR
STREET, CAMP BRANCH, PUNE - 411001, MAHARASHTRA, INDIA |
A96077433 |
|
6 |
10243648 |
27/09/2010 |
415,000,000.00 |
BANK OF
MAHARASHTRA |
628/629, SACHPIR
STREET, CAMP BRANCH, PUNE - 411001, MAHARASHTRA, INDIA |
A96077565 |
|
7 |
10239286 |
15/09/2010 |
372,400,000.00 |
DBS BANK LIMITED |
FORT HOUSE, 3RD
FLOOR, 221, DR. D.N. ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A94211620 |
|
8 |
10175688 |
14/09/2009 |
485,950,000.00 |
DBS BANK LIMITED |
FORT HOUSE, 3RD
FLOOR, 221, DR. D.N. ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A69382380 |
|
9 |
10139022 |
20/01/2014 * |
90,200,000.00 |
THE ROYAL BANK
OF SCOTLAND N V |
LEVEL 3, 4 NORTH
AVENUE, MAKER MAXITY, BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA,
INDIA |
B94335502 |
|
10 |
90225333 |
15/04/2004 |
5,000,000.00 |
ABN AMRO BANK NV |
14 VEER NARIMAN
POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
11 |
90225273 |
18/07/2003 |
200,000,000.00 |
STANDARD
CHARTERED BANK |
90 MG ROAD,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
12 |
90225267 |
30/06/2003 |
100,000,000.00 |
STANDARD
CHARTERED BANK |
90 MG RAOD,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
13 |
90225149 |
07/08/2001 |
600,000,000.00 |
BANK OF
MAHARASHTRA |
1501 SHIVAJI
NAGAR, PUNE - 411005, MAHARASHTRA, INDIA |
- |
|
14 |
90225138 |
23/01/2004 * |
600,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BARNCH,
PONE - 411001, MAHARASHTRA, INDIA |
- |
|
15 |
90225085 |
01/07/1999 * |
150,000,000.00 |
BANK OF
MAHARASHTRA |
1501 SHIVAJI
NAGAR, PUNE - 411005, MAHARASHTRA, INDIA |
- |
|
16 |
90224986 |
25/01/1999 |
10,000,000.00 |
INDUSTRIAL
CREDIT &INVESTMENTA CORPORATION OF IDIA |
163 BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
17 |
90224930 |
28/07/1998 |
100,000,000.00 |
EXPORT INPORT OF
INDIA |
CENRE ONE WORLD TRADE
CENTRA, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
18 |
90224919 |
01/07/1999 * |
72,000,000.00 |
BANK OF
MAHARASHTRA |
1501 SHIVAJI
NAGAR, PUNE - 411005, MAHARASHTRA, INDIA |
- |
|
19 |
90224803 |
26/10/2010 * |
1,416,400,000.00 |
BANK OF
MAHARASHTRA |
628/629, SACHPIR
STREET, CAMP BRANCH, PUNE - 411001, MAHARASHTRA, INDIA |
A98892185 |
|
20 |
90224791 |
13/03/1997 |
50,000,000.00 |
BANK OF
MAHARASHTRA |
1501 SHIVAJI
NAGAR, PUNE - 411005, MAHARASHTRA, INDIA |
- |
|
21 |
90224759 |
17/09/1996 |
445,560,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE, MAHARASHTRA, INDIA |
- |
|
22 |
90224751 |
13/08/1996 |
30,000,000.00 |
THE INDUSTRIAL
CREDIT & INVESTMENT CORPORATION OF INDAI |
163 BACKBAY,
BOMBAY - 400020, MAHARASHTRA, INDIA |
- |
|
23 |
90224749 |
07/08/1996 |
445,560,000.00 |
THE
INDUSTRIABANK OF MAHARASHTRA I |
CAMP BRANCH,
PUNE, MAHARASHTRA, INDIA |
- |
|
24 |
90224737 |
19/06/1996 |
10,000,000.00 |
THE BANK OF
MAHARASHTRA |
CHAMBAR BRANCH,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
25 |
90224661 |
06/08/1996 * |
8,000,000.00 |
CANARA BANK |
NARIMAN POINT,
BOMBAY - 400021, MAHARASHTRA, INDIA |
- |
|
26 |
90224648 |
28/09/1995 * |
2,500,000.00 |
CANARA BANK |
NARIMAN POINT,
BOMBAY - 400021, MAHARASHTRA, INDIA |
- |
|
27 |
90224647 |
16/08/1995 |
20,000,000.00 |
BANK O FBARODA |
INDUSTRIAL
FINANCE BRANCH, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
|
28 |
90224640 |
05/02/1996 * |
300,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER, CUFFE
PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
29 |
90224623 |
16/05/1995 |
75,000,000.00 |
ICICI BANKING
CORPORATOIN LIMITED |
GOUND FLOOR FREE
PRESS, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
30 |
90224595 |
16/03/1995 |
40,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
POONE - 411001, MAHARASHTRA, INDIA |
- |
|
31 |
90224585 |
17/02/1995 |
19,000,000.00 |
BANK OF
MAHARASHTARA |
CAMP BRANCH,
PONE, MAHARASHTRA, INDIA |
- |
|
32 |
90224559 |
12/11/1994 |
75,000,000.00 |
ICICI BANKING
CORPORATION LIMITED |
FREE PRESS, 215
NARIMAN POINT, BOMBAY - 400021, MAHARASHTRA, INDIA |
- |
|
33 |
90224525 |
14/07/1994 |
35,000,000.00 |
SCICI LIMITED |
141 MAKER TOWER,
CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
34 |
90224521 |
27/06/1994 |
90,000,000.00 |
CANARA BANK |
MITTAL CURTH,
NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA , INDIA |
- |
|
35 |
90224519 |
11/01/1995 * |
75,000,000.00 |
THE INDUSTRIAL
CREDIT &INVESTMENT CORPORATION OF INDIA |
163 BAVKBAY RECLAMATION,
MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
36 |
90224516 |
06/06/1994 |
500,000.00 |
BANK OF
MAHARASHTRA |
CAMP BARANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
37 |
90224494 |
22/03/1994 |
30,000,000.00 |
SCICI LIMITED |
141 MAKER CUFFE PARADE,
MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
38 |
90224477 |
31/01/1994 |
165,000,000.00 |
THE INDUSTIAL
CREDIT & INVESTMENT CORPORATION OF |
163 BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
39 |
90224476 |
24/01/1994 |
67,500,000.00 |
THE INDUSTRIAL
CREDIT & INVESTMENT CORPORATION OF |
163 BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
40 |
90224462 |
20/12/1993 |
12,700,000.00 |
THE BANK O F
MAHARASHTRA LTD |
CAMP BRANCH, POONE
- 411001, MAHARASHTRA, INDIA |
- |
|
41 |
90224445 |
11/10/1993 |
50,000,000.00 |
THE INDUSTRAL
CREDIT & INVESTMENT CORPORATION |
163 BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
42 |
90224436 |
15/09/1993 |
30,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK O FINDIA |
IDBI TOWER,
BOMBAY - 400005, MAHARASHTRA, INDIA |
- |
|
43 |
90224433 |
28/09/1995 * |
2,500,000.00 |
CANARA BANK |
NARIMAN POINT,
MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
44 |
90224409 |
17/08/1996 * |
15,500,000.00 |
ANZ GRINDLAYS
BANK |
MG ROAD, MUMBAI
- 400001, MAHARASHTRA, INDIA |
- |
|
45 |
90224402 |
11/03/1993 |
20,000,000.00 |
INDUSTRIAL
CREDIT &INVESTMENTA CORPORATION OF IDIA |
163 BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
46 |
90224368 |
17/05/1993 * |
2,800,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION |
RMON HOUSE 163
BACKBAY RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
47 |
90224302 |
23/12/1991 |
15,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER,
NARIMAN POINT, MUMBAI - |
- |
|
48 |
90224275 |
23/09/1992 * |
15,000,000.00 |
THE INDUSTRAL
CREDIT &INVESTMENT CORPORATION O FIN |
163 BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
49 |
90224258 |
11/06/1991 |
1,797,400.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
50 |
90224253 |
17/05/1991 |
689,000.00 |
BANK OF CREDIT
& COMMERCE |
NARIMAN POINT,
MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
51 |
90224239 |
20/03/1991 |
3,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
52 |
90224218 |
09/01/1991 |
300,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
53 |
90224128 |
15/12/1989 |
2,982,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
54 |
90224120 |
29/11/1989 |
23,500,000.00 |
THE INDUSTRIAL
CREDIT & INVESTMENT CORPORATION OF |
163 BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
55 |
90224108 |
18/10/1989 |
6,603,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
56 |
90224077 |
09/06/1989 |
1,668,400.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
57 |
90224062 |
28/03/1989 |
8,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
58 |
90224060 |
01/12/1987 * |
279,000.00 |
DIRECTOR OF
INDUSTRIAL |
CHANDIGARH,
CHNDIGARH, PUNJAB, INDIA |
- |
|
59 |
90224038 |
19/01/1989 |
3,000,000.00 |
BANK OF
MAHARSHTRA |
1177 BNDHWER
PETH, PONE - 411001, MAHARASHTRA, INDIA |
- |
|
60 |
90223980 |
20/09/1988 * |
14,400,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
61 |
90223953 |
29/12/1987 |
255,000.00 |
CITI BANK NA |
SAKHAR BHACAN,
NARIMAN POINT, MUMBAY - 400021, MAHARASHTRA, INDIA |
- |
|
62 |
90223938 |
08/08/1989 * |
8,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
63 |
90223931 |
20/06/1991 * |
6,000,000.00 |
BANK OF CREDIT
& COMMERCE INTERNATIONAL |
MAKER CHAMBERS
III, NARIMAN POINT, BOMBAY - 400021, MAHARASHTRA, INDIA |
- |
|
64 |
90223917 |
14/03/1988 * |
2,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
65 |
90223901 |
27/02/1987 |
1,500,000.00 |
CANARA BANK |
NARIMAN POINT,
MITTAL TOWER, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
66 |
90223894 |
20/03/1987 * |
8,000,000.00 |
CANARA BANK |
NARIMAN POINT,
MITTAL TOWER, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
67 |
90223892 |
09/01/1987 |
7,500,000.00 |
BANK OF CREDIT
& COMMERCE INTERNATIONAL |
MAKER CHAMBERS
III, NARIMAN POINT, BOMBAY - 400021, MAHARASHTRA, INDIA |
- |
|
68 |
90223890 |
06/01/1987 |
8,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH, PUNE
- 411001, MAHARASHTRA, INDIA |
- |
|
69 |
90223885 |
27/12/1987 * |
2,500,000.00 |
CANARA BANK |
MITTAL COURT,
NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
70 |
90223871 |
18/10/1989 * |
279,000.00 |
DIRECTOR OF
INDUSTRIES |
CHNDIGRH, CHNDIGARH,
PUNJAB, INDIA |
- |
|
71 |
90223828 |
24/02/1987 * |
279,000.00 |
DIRECTOR OF |
CHANDIGARH,
CHANDIGADH, PUNJAB, INDIA |
- |
|
72 |
90223826 |
14/06/1986 * |
14,400,000.00 |
BANK OF
MAHARSHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
73 |
90223823 |
14/12/1995 * |
14,400,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
74 |
90223821 |
14/03/1988 * |
14,400,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
75 |
90223784 |
30/07/1984 * |
1,950,000.00 |
HOUSING
DEVELOPMET FINANCE CORPORATION |
RAMON HOUSE, 169
BACKBAY RECLMTION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
76 |
90223783 |
20/03/1984 |
5,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH, PUNE
- 411001, MAHARASHTRA, INDIA |
- |
|
77 |
90223769 |
07/12/1983 |
500,000.00 |
INDIA BANK |
ANFHERI (W)
BRANCH, 11/12 MADHAV NAGAR SV ROAD, MUMBAI - 400058, MAHARASHTRA, INDIA |
- |
|
78 |
90223766 |
15/11/1983 |
4,000,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
79 |
90223763 |
26/09/1988 * |
11,500,000.00 |
GRINDLAYS BANK |
PLC 90 MG ROAD,
MUMBAI, MAHARASHTRA - 400001, IND |
- |
|
80 |
90223756 |
06/07/1983 |
7,200,000.00 |
INDIN BANK |
ANFHERI (W) BRANCH,
11/12 MADHAV NAGAR SV ROAD, MUMBAI - 400058, MAHARASHTRA, INDIA |
- |
|
81 |
90223750 |
31/07/1984 * |
1,200,000.00 |
CENTRAL BANK OF
INDIA |
MAIN GOBINDHGARH
BRANCH, GOBIND GARH, PUNJAB, INDIA |
- |
|
82 |
90223742 |
04/12/1982 |
4,000,000.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT,
MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
83 |
90223683 |
23/05/1988 * |
1,000,000.00 |
GRINDLAYS BANK |
PLC 90 MG ROAD,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
84 |
90223680 |
03/03/1979 |
1,000,000.00 |
GRINDLAYS BANK
LIMITED |
90 MG ROAD,
BOMBAY - 400023, MAHARASHTRA, INDIA |
- |
|
85 |
90223647 |
05/02/1976 |
2,000,000.00 |
BANK OF
MAHARSHTRA |
1177 BNDHWER
PETH, PONE, MAHARASHTRA, INDIA |
- |
|
86 |
90223638 |
23/12/1974 |
500,000.00 |
THE BANK OF MAHARASHTRA
LIMITED |
1177 BUDHAWAR
PETH, POONE - 411002, MAHARASHTRA, INDIA |
- |
|
87 |
90223634 |
23/04/1974 |
260,000.00 |
THE BANK OF
MAHARASHTRA LIMITED |
1177 BUDHAWAR
PETH, POONE - 411002, MAHARASHTRA, INDIA |
- |
|
88 |
90223628 |
01/01/1974 |
4,500,000.00 |
BANK OF
MAHARASHTRA |
1177 BUDHAWAR
PETH, POONE - 411002, MAHARASHTRA, INDIA |
- |
|
89 |
90223627 |
14/03/1988 * |
663,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
90 |
90223624 |
14/03/1988 * |
3,300,000.00 |
BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
91 |
90223618 |
28/10/1971 |
600,000.00 |
BANK MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
92 |
90223610 |
19/08/1968 |
150,000.00 |
THE BANK OF
MAHARASHTRA LIMITED |
45/47 APOLLO
STREET, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
|
93 |
90223604 |
27/04/1966 |
100,000.00 |
THE BANK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
94 |
90223603 |
31/03/1966 |
300,000.00 |
MAHARASHTRA
STATE FINANCIAL CORPORATION |
UNITED INDIA
BUILDING, P MEHTA ROAD, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
|
95 |
90223597 |
20/01/1965 |
300,000.00 |
MAHARASHTRA
STATE FIINANCE CORPORATION |
UNITED INDIA BUILDING,
RACE COURSE CIRSLE, BOMBAY - 400001, MAHARASHTRA, INDIA |
- |
|
96 |
90223595 |
09/05/1964 |
100,000.00 |
THE BNAK OF
MAHARASHTRA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
97 |
90223593 |
18/12/1963 |
400,000.00 |
MAHARASHTR STATE
FINANCE CORPORATION |
UNITED INDIA
BUILDING, BOMBAY - 400001, MAHARASHTRA, INDIA |
- |
|
98 |
90223587 |
31/05/1985 * |
14,400,000.00 |
BANK OF
MAHARASHTARA |
CAMP BRANCH,
PUNE - 411001, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred payment liabilities |
31.847 |
37.890 |
|
Loans and advances from related parties |
270.300 |
270.300 |
|
|
|
|
|
Total |
302.147 |
308.190 |
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from 56, Jolly Maker
Chambers II, Nariman Point, Mumbai – 400021, Maharashtra, India to the present
address w.e.f.01.10.2006.
CORPORATE INFORMATION
Subject is a closely held public Company and is a joint venture company between
the Jain group and Air Products and Chemical Inc., USA. The Company is engaged
in the manufacture, trading and supply of industrial and medical gases viz.
Oxygen, Nitrogen, Argon, Helium, Acytelene (DA), Nitrous Oxide, Speciality Gas
mixtures etc. The Company has also given plants on operating lease and earns
operations and maintenance charges in respect of the said plants. The Company
mainly caters to the domestic market.
PROJECTS
A. IMPLEMENTED
a)
Harvest
Hydrogen Generator (Capacity 250 Nm3/hr) installed on 1st August 2012 & 200
TPD (LOX/LIN/LAR) Plant commenced production on 2nd December, 2012 at Bhiwadi.
b)
Expansion
of capacity by 200 TPD (LOX/LIN/LAR) at Barotiwala, commenced production on
21st March, 2013.
c)
200 TPD
(LOX/LIN/LAR) plant at Karjan, commenced production on 25th March 2013.
d)
Expansion
of capacity by 150TPD (LOX/LIN) at Hyderabad, commenced production on 29th
March 2013.
B. UNDER IMPLEMENTATION
200 TPD
(LOX/LIN/LAR) Plant and Harvest Hydrogen Plant (Capacity 500 Nm3/hr.) at Vile
Bhagad, Mangaon.
FIXED ASSETS:
· Land
Buildings
Office
building
Factory
building
Plant
and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
Computer
software
Know-how
PRESS RELEASE
ESSAR STEEL-INOX
AIR PRODUCTS DEAL GETS CCI GREEN SIGNAL
Feb 6, 2014
NEW DELHI: Fair trade regulator CCI has cleared
Essar Steel's proposed sale of a gas plant in Gujarat to Inox Air Products, saying the deal does not
raise adverse competition concerns in the country.
As per the deal,
Ruias-promoted Essar Steel will
transfer its gas plant located at Hazira, Gujarat to Inox on a slump sale
basis. In an order dated January 30, the Competition Commission of India (CCI)
said that "the proposed combination is not likely to have an appreciable
adverse effect on competition in India".
The Commission noted
that in terms of a agreement between Essar Steel and Inox, a guaranteed
quantity of the industrial gases produced at the Hazira gas plant Essar Steel "on job work and long term
basis, would be provided to Essar Steel, by Inox AP, post combination".
"The proposed
acquisition of the gas plant at Hazira, will also not increase, in any
significant manner, the capacity of Inox AP for producing and selling
industrial gases, in India," CCI said in the order.
Essar Steel, as part
of its business activity of steel manufacturing has a gas plant which produces
oxygen, nitrogen, and argon gases. The gases produced in the units located at
Hazira plant are primarily used for the purpose of captive consumption in steel
manufacturing by Essar Steel.
Inox Air Products is engaged in the business of manufacturing
and supplying industrial gases across India. Pursuant to execution of a 'Business
Transfer Agreement (BTA)' with Essar Steel on December 24, 2013, Inox has
sought clearance of the deal with CCI.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.70 |
|
|
1 |
Rs. 100.97 |
|
Euro |
1 |
Rs. 84.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.