MIRA
INFORM REPORT
|
Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRI BAJRANG POWER AND ISPAT LIMITED |
|
|
|
|
Registered
Office : |
Village Borjhar, Guna Road, Urla Growth Center, Raipur – 493221,
Chhattisgarh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.07.2002 |
|
|
|
|
Com. Reg. No.: |
015184 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.129.137
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106CT2002PLC015184 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB2944D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the
Manufacturing of Sponge Iron, Billets, Pellets, TMT Bars, Wire Rod and Ferro Alloys
and Generation of Power. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has achieved fair profitability from its operation during
the financial year 2013. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
|
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 bank facilities: “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A2” |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
13.01.2014 |
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 DENIED BY
|
Name : |
Mr. Ashok Harlalka |
|
Designation : |
General Manager |
|
Contact No.: |
91-9826160900 |
|
Date : |
14.03.2014 |
LOCATIONS
|
Registered Office : |
Village Borjhar, Guna Road, Urla Growth Center, Raipur – 493221,
Chhattisgarh, India |
|
Tel. No.: |
91-771 4288029 / 4288019 / 39 |
|
Mobile No.: |
91-9826160900 (Mr. Ashok Harlalka) |
|
Fax No.: |
91-771-4288123 / 2323601 / 602 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office / TMT Division : |
KH. No 2/3, Village Gondwara, Urla Industrial Area, Raipur – 493221,
Chhattisgarh, India |
|
Tel. No.: |
91-771-4288111 |
|
Fax No.: |
91-771-4288150 |
DIRECTORS
AS ON: 30.09.2013
|
Name : |
Mr. Suresh Goel |
|
Designation : |
Director |
|
Address : |
Gharonda, Ravi Nagar, |
|
Date of Birth/Age : |
25.05.1950 |
|
Qualification : |
B.com |
|
Date of Appointment : |
25.01.2007 |
|
PAN No.: |
ACZPG8043L |
|
DIN No.: |
00115834 |
|
|
|
|
Name : |
Mr. Narendra Goel |
|
Designation : |
Managing Director |
|
Address : |
F-6, Anupam Nagar, |
|
Date of Birth/Age : |
10.10.1959 |
|
Qualification : |
B.com |
|
Date of Appointment : |
13.12.2003 |
|
PAN No.: |
AHDPG8042M |
|
DIN No.: |
00115883 |
|
|
|
|
Name : |
Mr. Rajendra Goel |
|
Designation : |
Additional Director |
|
Address : |
Ravi Nagar, |
|
Date of Birth/Age : |
20.09.1956 |
|
Qualification : |
B.com |
|
Date of Appointment : |
25.08.2002 |
|
DIN No.: |
01263958 |
|
|
|
|
Name : |
Mr. Shravan Kumar Goyal |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 4C, Block “C”, Mallika Merlin Jaishree Vihar, New Mandir
Road, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
30.05.1965 |
|
Qualification : |
B.E.(Electrical) |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
01829618 |
|
|
|
|
Name : |
Mr. Hemandra Nath |
|
Designation : |
Independent Director |
|
Address : |
J - 205, Shivalik Nagar, B.H.E.L., Haridwar – 261005, |
|
Date of Birth/Age : |
26.12.1942 |
|
Qualification : |
B.SC Metallurgical Engineering, DIIT(Heat Treatment Technology) and Ph. D IIT Bombay |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
02020546 |
|
|
|
|
Name : |
Mr. Hari Anant Ghanekar |
|
Designation : |
Independent Director |
|
Address : |
A - 13, Alkapuri, Habibganj, |
|
Date of Birth/Age : |
13.06.1938 |
|
Qualification : |
B.SC,BE(Electrical) |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
02027948 |
|
|
|
|
Name : |
Mr. Raj Kumar Yadava |
|
Designation : |
Director |
|
Address : |
C – 13, Staff Colony, Malviya National Institute of Technology, Jaipur
– 302017, Rajasthan, India |
|
Date of Birth/Age : |
03.06.1945 |
|
Qualification : |
B. Tech, M. Tech |
|
Date of Appointment : |
12.08.2010 |
|
DIN No.: |
03177450 |
|
|
|
|
Name : |
Mr. B. Muralidhaean Iyer |
|
Designation : |
Director |
|
Address : |
Plot No. 17, Arya Bhoomi Housing Complex, Patia, Bhubaneshwar, Odisha
– 751024 |
|
Date of Birth/Age : |
05.01.1957 |
|
Date of Appointment : |
12.08.2013 |
|
DIN No.: |
01623494 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Harlalka |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
58.57 |
|
Directors or relatives of directors |
|
39.97 |
|
Other top fifty shareholders |
|
1.46 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
Manufacturing of Sponge Iron, Billets, Pellets, TMT Bars, Wire Rod and Ferro Alloys
and Generation of Power. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||||||||||||||
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|
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|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. K. Singhania and Associates Chartered Accountants |
|
Address : |
205, 1st Floor, Samta Colony, |
|
PAN No.: |
AAGFR3093N |
|
|
|
|
Associate: |
CIN No.: U40101HP2007PTC030762
CIN No.: L27103CT1990PLC005964
CIN No.: U13100CT2006PTC020001
CIN No.: U27100MH1996PLC097544
CIN No.: U65993CT1992PTC007074
CIN No.: L17115UP1984PLC006824
CIN No.: U28910CT2005PLC017828
CIN No.: U40107HP2009PTC031218 · Shri Kishan Rolling Mill · J.J. Re-Rollers · Bajrang Rice Mills · Jainarayan Hariram Goel Charitable Trust |
|
|
|
|
Subsidiary Companies : |
· Shri Bajrang Hydro Energy Private Limited CIN No.: U40101HP2007PTC030762 · Shri Bajrang Energy Private Limited CIN No.: U40101CT2007PTC020484 |
|
|
|
|
Joint Venture Company: |
Chhattisgarh Captive Coal Mining Limited |
CAPITAL STRUCTURE
AS ON: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12913730 |
Equity Shares |
Rs.10/- each |
Rs.129.137
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 |
129.137 |
112.892 |
107.037 |
|
(b) Reserves & Surplus |
3855.919 |
3148.103 |
2565.671 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
26.630 |
|
Total
Shareholders’ Funds (1) + (2) |
3985.056 |
3260.995 |
2699.338 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4388.690 |
1753.770 |
743.258 |
|
(b) Deferred tax liabilities
(Net) |
157.796 |
52.971 |
123.366 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
11.974 |
6.718 |
5.702 |
|
Total
Non-current Liabilities (3) |
4558.460 |
1813.459 |
872.326 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2210.491 |
1715.379 |
1495.560 |
|
(b) Trade payables |
402.954 |
595.416 |
305.768 |
|
(c) Other current liabilities |
1254.233 |
649.870 |
449.552 |
|
(d) Short-term provisions |
31.292 |
50.003 |
40.191 |
|
Total
Current Liabilities (4) |
3898.970 |
3010.668 |
2291.071 |
|
|
|
|
|
|
TOTAL |
12442.486 |
8085.122 |
5862.735 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6410.745 |
2632.183 |
2642.432 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1623.510 |
1374.292 |
300.523 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
336.186 |
607.336 |
124.577 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
215.882 |
451.827 |
132.921 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
8586.323 |
5065.638 |
3200.453 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1793.112 |
1625.389 |
1333.390 |
|
(c) Trade receivables |
404.178 |
764.942 |
739.246 |
|
(d) Cash and cash equivalents |
66.808 |
59.575 |
46.047 |
|
(e) Short-term loans and
advances |
1478.784 |
552.744 |
480.804 |
|
(f) Other current assets |
113.281 |
16.834 |
62.795 |
|
Total
Current Assets |
3856.163 |
3019.484 |
2662.282 |
|
|
|
|
|
|
TOTAL |
12442.486 |
8085.122 |
5862.735 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
8103.513 |
8141.590 |
7438.551 |
|
|
Other Income |
15.282 |
44.822 |
23.701 |
|
|
TOTAL
(A) |
8118.795 |
8186.412 |
7462.252 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
6383.023 |
6745.581 |
5823.699 |
|
|
Purchases of Stock-in-Trade |
168.706 |
28.954 |
34.152 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(116.410) |
(220.742) |
6.795 |
|
|
Employees benefits expense |
210.327 |
169.213 |
141.085 |
|
|
Other expenses |
680.398 |
642.245 |
678.238 |
|
|
TOTAL
(B) |
7326.044 |
7365.251 |
6683.969 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
792.751 |
821.161 |
778.283 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
229.114 |
271.408 |
229.938 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
563.637 |
549.753 |
548.345 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
265.044 |
248.236 |
240.781 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
298.593 |
301.517 |
307.564 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
61.886 |
1.534 |
62.214 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
236.707 |
299.983 |
245.350 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
1989.542 |
1724.973 |
1624.191 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
35.414 |
144.568 |
|
|
Balance
Carried to the B/S |
2226.249 |
1989.542 |
1724.973 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
75.131 |
22.616 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
20.19 |
27.94 |
22.92 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
2.91 |
3.66 |
3.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.68 |
3.70 |
4.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.85 |
4.94 |
5.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.66 |
1.06 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.00 |
1.16 |
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 |
107.037 |
112.892 |
129.137 |
|
Reserves & Surplus |
2565.671 |
3148.103 |
3855.919 |
|
Net
worth |
2672.708 |
3260.995 |
3985.056 |
|
|
|
|
|
|
long-term borrowings |
743.258 |
1753.770 |
4388.690 |
|
Short term borrowings |
1495.560 |
1715.379 |
2210.491 |
|
Total
borrowings |
2238.818 |
3469.149 |
6599.181 |
|
Debt/Equity
ratio |
0.838 |
1.064 |
1.656 |
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 |
7438.551 |
8141.590 |
8103.513 |
|
|
|
9.451 |
(0.468) |
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 |
7438.551 |
8141.590 |
8103.513 |
|
Profit |
245.350 |
299.983 |
236.707 |
|
|
3.30% |
3.68% |
2.92% |
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 |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10457676 |
24/10/2013 |
14,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B88573449 |
|
2 |
10455080 |
25/09/2013 |
750,000,000.00 |
BANK OF BARODA |
MID CORPORATE BRANCH, 2ND
FLOOR, LIC INVESTMENT B |
B87565701 |
|
3 |
10446991 |
19/08/2013 |
140,000,000.00 |
KARNATAKA BANK LTD. |
PLOT NO.2, FAFADIH
CHOWK,, JAIL ROAD, RAIPUR - 492009, CHHATTISGARH, INDIA |
B84009984 |
|
4 |
10437261 |
05/07/2013 |
1,278,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B79779864 |
|
5 |
10428363 |
15/05/2013 |
33,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B75955146 |
|
6 |
10411441 |
27/02/2013 |
13,400,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B70658851 |
|
7 |
10407698 |
25/02/2013 |
1,320,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B69444677 |
|
8 |
10413137 |
25/02/2013 |
1,800,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B71237010 |
|
9 |
10397873 |
04/01/2013 |
9,950,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B66190059 |
|
10 |
10354928 |
26/04/2012 |
6,595,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B39396197 |
* Date of charge modification
Rs.
In Millions
|
Unsecured Loan |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
111.570 |
23.620 |
|
Total |
111.570 |
23.620 |
OPERATIONAL REVIEW:
During the year, the
Revenue for the Current financial year stood at Rs. 8118.797 Millions as
against Rs.8186.412 Millions in the previous financial year and profit before
tax stood at Rs.298.594 Millions during the current year as against Rs. 301.517
Millions in the previous financial year. The profit after tax stood at Rs.
236.707 Millions in the current financial year as against Rs. 299.983 Millions
in the previous financial year. The Profits during the year were declined by
Rs. 63.276 Millions as compared to previous year’s profit.
ECONOMIC REVIEW:
The Steel Industry is an
economic indicator in India, as it plays a crucial role in infrastructure and
overall economic development. The world economy is expected to have grown by
3.3% by 2012 and by 3.6% in 2013. This growth is primarily driven by the BRICS
nations, with most of this growth coming from China and India. They have grown
at a rate of 7.6% and 5.1% in 2012 and at a rate of 7.8% and 5.8% in 2013. As
per World Steel Association forecasts, the world’s steel demand is expected to
grow by 2.9% in 2013 and reach a level of 1454 million tones. A recovery in
global steel demand can be expected to kick off by the second half, led by the
emerging economies with some of the global crisis settling down. Emerging and
developing economies will continue to drive global recovery with a growth of
3.9% as compared to (-1.9%) in the developed economies.
In general, the steel
drives the roll industry. The effect of severe downturn in 2008 did lift to
some extent during Financial Year 2011-12. But the economy not doing well in
USA, Europe and other developed nations last year, has reduced the volume of
export of all Indian roll manufacturers resulting in higher allocation of
capacities for the domestic market by all the roll manufacturers. Also the
overseas roll manufacturers are now looking more and more towards India. This
is putting a lot of pressure on the roll industry both in terms of volume and
realization. The unstable economy in the last year and continuing in current
year is expected to have an adverse effect on the roll industries in the coming
year.
The Company has built
strong fundamentals over the years and is appropriately positioned to benefit
from the expected increasing demand in the country for steel. The steel
production capacity is being enhanced by setting up Backward Integrated Steel
Plant at Tilda. The Company is procuring state-of-the-art technology for these
projects. The proposed enhancement in the production capacity of steel making
is in line with the increasing consumption of steel and the Company will be in
a position to market its products. Marketing department has been strengthened appropriately
which is exploring various market segments in India and abroad.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
48 |
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.