MIRA
INFORM REPORT
|
Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CONCAST STEEL AND POWER LIMITED (w.e.f. 30.03.2011) |
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Formerly Known
As : |
SPS STEEL AND POWER LIMITED (w.e.f 11.08.2004) SPS SPONGE IRON LIMITED (w.e.f. 13.12.2001) VINAYAK STEELS LIMITED (w.e.f. 29.02.2000) VINAYAK STEELS PRIVATE LIMITED |
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Registered
Office : |
21, Hemant Basu Sarani, 5th
Floor, Room No. 511 and 512, Kolkata – 700001, West Bengal |
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|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.06.1995 |
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Com. Reg. No.: |
21-072045 |
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Capital
Investment / Paid-up Capital : |
Rs. 596.564 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U51909WB1995PLC072045 |
|
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|
|
PAN No.: [Permanent Account No.] |
AAHCS8656C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Iron and Steel. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 29260000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company is progressing well. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and January
of 2013/14 which has seen some signs of recovery according to a Care Ratings
report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB-” (Revised from BB+) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
09.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” (Revised from A4+) |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
09.01.2014 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-33-22130481)
LOCATIONS
|
Registered Office : |
21, Hemant Basu Sarani, 5th
Floor, Room No. 511 and 512, Kolkata – 700001, West Bengal, India |
|
Tel. No. : |
91-33-40232323/ 22130481/ 87 |
|
Fax No. : |
91-33-40232323/ 22130488 |
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E-Mail : |
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Factory : |
Industrial Growth Centre, Village Kukurjangha, Po: Badmal, Dist:
Jharsuguda - 768202, Orissa, India |
|
Tel. No. : |
91-6645-277427 |
|
Fax No. : |
91-6645-277428 |
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|
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Branch Office : |
‘Neelachal Enclave’, Flat No. 301/302, 3rd Floor, Block: N3
159, IRC Village, Nayapalli, Bhubaneswar – 751015, Orissa, India |
|
Tel. No.: |
91-674-2558863 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sanjay Kumar Sureka |
|
Designation : |
Managing Director |
|
Address : |
28/1, Shakespeare Sarani, Kolkata – 700017, West Bengal, Indai |
|
Date of Birth/Age : |
22.01.1971 |
|
Qualification : |
B.COM |
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Date of Appointment : |
21.01.2014 |
|
Voter ID No. : |
WB/23/146/069180 |
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DIN No. : |
00218025 |
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|
|
|
Name : |
Mr. Anil Kumar Jain |
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Designation : |
Whole-time director |
|
Address : |
18, Pannalal Basak Lane, Liluah – 711204, West Bengal, India |
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Date of Birth/Age : |
04.05.1962 |
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Qualification : |
B.COM |
|
Date of Appointment : |
21.01.2014 |
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DIN No. : |
00428426 |
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|
|
|
Name : |
Mr. Anil Kumar Kedia |
|
Designation : |
Director |
|
Address : |
4/5, Singhi Bagan Lane, Kolkata – 700006, West Bengal, India |
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Date of Birth/Age : |
14.04.1973 |
|
Date of Appointment : |
30.09.2013 |
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DIN No. : |
01364304 |
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|
|
Name : |
Mr. Prakash Chandra Agarwal |
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Designation : |
Director |
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Address : |
Ward No. 13, Sambalpur - 768001, Orissa, India |
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Date of Birth/Age : |
01.01.1948 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
29.09.2010 |
|
DIN No. : |
03063770 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Lodha |
|
Designation : |
Secretary |
|
Address : |
Pardeshi Para, Jharsuguda – 768201, Orissa, India |
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Date of Birth/Age : |
15.05.1967 |
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Date of Appointment : |
01.12.2009 |
|
PAN No.: |
AAZPL3334P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOTE: SHAREHOLDING AND ALLOTTEES DETAILS FILE ATTACHED.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
98.70 |
|
Directors or relatives of Directors |
1.26 |
|
Other top fifty shareholders |
0.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Iron and Steel. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Uco Bank, Flagship Corporate Branch, 3, Netaji Subhas Road, Kolkata - 700001, West Bengal, India Oriental Bank of Commerce, Strand Road Branch, 2, N. C.
Dutta Sarani, Kolkata - 700001, West Bengal, India Indian Overseas Bank, India Exchange Place Branch (Title
Deed Holder), P-35, India Exchange Place, Kolkata - 700001, West Bengal,
India Allahabad Bank (Leader), Kolkata Main Branch, 14, India
Exchange Place, Kolkata - 700001, West Bengal, India Syndicate Bank, N S Road Branch, 6 N.S.Road, Kolkata -
700001, West Bengal, India Corporation Bank, Corporate Banking Branch 17, Brabourne
Road, Mookherjee House, 1st Floor, Kolkata - 700001, West Bengal,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. Jain And Associates Chartered Accountants |
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Address : |
9/12, Lal Bazar Street, E Block , Kolkata – 700001, West Bengal, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAGFM9405R |
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Subsidiary: |
Concast Infratech Limited CIN No.: U45400WB2010PLC153282 |
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|
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Associate: |
· Concast Bengal Industries Limited CIN No.: U27109WB1995PLC071063 Concast Ispat Limited Dankuni SteelsLimited Concast Exim Limited Concast Vyapaar Limited Concast Global Limited Concast Ambha Road Projects Private Limited Concast Damoh Road Project Private Limited Concast Dhaneta Road Projects Private Limited Concast Badnagar Road Projects Private Limited Concast Sendhwa Road Projects Private Limited Concast Morena Road Projects Private Limited Concast Jawasa Road Projects Private Limited Concast Patan Road Projects Private Limited Concast Path Bameetha Satna Road Projects Private Limited Concast EnergyLimited Concast Infrastructure Private Limited Concast Bengal IndustriesLimited I WIN Advisory Services Limited Sodepur Commercial Private Limited Concast Singapore PTE Limited Sureka ExportLimited Sanjay Commotrade LLP Concast Hongkong PTE Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital: Rs. 870.000 Millions
Issued, Subscribed & Paid-up Capital: Rs.813.059
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 750.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59,656,360 |
Equity Shares |
Rs.10/- each |
Rs. 596.564 Millions |
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|
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|
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 |
596.564 |
490.364 |
450.136 |
|
(b) Reserves & Surplus |
5908.684 |
4633.848 |
2383.012 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
810.000 |
0.000 |
1319.505 |
|
Total
Shareholders’ Funds (1) + (2) |
7315.248 |
5124.212 |
4152.653 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6975.337 |
6314.221 |
5131.364 |
|
(b) Deferred tax liabilities (Net) |
839.645 |
467.476 |
424.634 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.916 |
12.303 |
10.077 |
|
Total Non-current Liabilities (3) |
7827.898 |
6794.000 |
5566.075 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7979.887 |
7818.463 |
6284.270 |
|
(b) Trade payables |
4560.583 |
3257.239 |
2795.812 |
|
(c) Other current
liabilities |
1819.451 |
1500.424 |
1197.588 |
|
(d) Short-term provisions |
412.328 |
260.862 |
178.223 |
|
Total Current Liabilities (4) |
14772.249 |
12836.988 |
10455.893 |
|
|
|
|
|
|
TOTAL |
29915.395 |
24755.200 |
20174.621 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10317.895 |
3877.791 |
4095.252 |
|
(ii) Intangible Assets |
2.437 |
2.908 |
2.066 |
|
(iii) Capital work-in-progress |
129.592 |
2742.674 |
792.109 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
550.595 |
0.595 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
214.903 |
2115.722 |
2682.109 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
11215.422 |
8739.690 |
7571.536 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
52.700 |
52.700 |
52.700 |
|
(b) Inventories |
6538.225 |
4842.729 |
4970.632 |
|
(c) Trade receivables |
7574.052 |
6252.387 |
4073.218 |
|
(d) Cash and cash
equivalents |
528.687 |
640.479 |
324.752 |
|
(e) Short-term loans and
advances |
4006.309 |
4227.215 |
3181.783 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
18699.973 |
16015.510 |
12603.085 |
|
|
|
|
|
|
TOTAL |
29915.395 |
24755.200 |
20174.621 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
30345.065 |
26253.437 |
23301.835 |
|
|
|
Other Income |
37.295 |
38.783 |
33.570 |
|
|
|
TOTAL (A) |
30382.360 |
26292.220 |
23335.405 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
23389.644 |
19110.644 |
13822.838 |
|
|
|
Purchases of Stock-in-Trade |
3376.887 |
3454.267 |
6591.484 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(390.692) |
207.720 |
(247.771) |
|
|
|
Employees benefits expense |
200.927 |
176.672 |
171.412 |
|
|
|
Other expenses |
1382.569 |
1360.904 |
1210.140 |
|
|
|
Prior Period Items |
0.000 |
0.000 |
2.507 |
|
|
|
TOTAL (B) |
27959.335 |
24310.207 |
21550.610 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
2423.025 |
1982.013 |
1784.795 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1476.814 |
1331.979 |
968.412 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
946.211 |
650.034 |
816.383 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
244.030 |
236.996 |
229.521 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
702.181 |
413.038 |
586.862 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
383.145 |
133.373 |
297.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
319.036 |
279.665 |
289.452 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
265.453 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.49 |
6.20 |
6.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.05 |
1.06 |
1.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.31 |
1.57 |
2.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.40 |
1.88 |
3.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.08 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.04 |
2.76 |
2.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.25 |
1.21 |
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 |
450.136 |
490.364 |
596.564 |
|
Reserves & Surplus |
2383.012 |
4633.848 |
5908.684 |
|
Share
Application money pending allotment |
1319.505 |
0.000 |
810 |
|
Net
worth |
4152.653 |
5124.212 |
7315.248 |
|
|
|
|
|
|
long-term borrowings |
5131.364 |
6314.221 |
6975.337 |
|
Short term borrowings |
6284.270 |
7818.463 |
7979.887 |
|
Total
borrowings |
11415.634 |
14132.684 |
14955.224 |
|
Debt/Equity
ratio |
2.749 |
2.758 |
2.044 |
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 |
23301.835 |
26253.437 |
30345.065 |
|
|
|
12.667 |
15.585 |
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 |
23301.835 |
26253.437 |
30345.065 |
|
Profit |
289.452 |
279.665 |
319.036 |
|
|
1.24% |
1.07% |
1.05% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last three
years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10486413 |
25/03/2014 |
500,000,000.00 |
STATE BANK OF HYDERABAD |
COMMERCIAL BRANCH,,
TRINITY TOWER, GROUND FLOOR, |
C01007020 |
|
2 |
10432139 |
10/06/2013 |
82,100,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, KOLKATA, 11, DR. U. N. |
B77537025 |
|
3 |
10433840 |
11/05/2013 |
1,710,600,000.00 |
ORIENTAL BANK OF COMMERCE (LEAD BANK) |
PARK STREET BRANCH, 107/1, PARK STREET (1ST FLOOR), KOLKATA - 700016, WEST BENGAL, INDIA |
B78288867 |
|
4 |
10414238 |
17/02/2014 * |
19,156,800,000.00 |
ALLAHABAD BANK |
KOLKATA MAIN BRANCH, 14, INDIA EXCHANGE PLACE, KOLKATA - 700001, WEST BENGAL, INDIA |
B98705205 |
|
5 |
10397290 |
04/01/2013 |
400,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
B65995235 |
|
6 |
10396096 |
31/12/2012 |
128,900,000.00 |
ORIENTAL BANK OF COMMERCE |
PARK STREET BRANCH, 107/1, PARK STREET (1ST FLOOR), KOLKATA - 700016, WEST BENGAL, INDIA |
B65560534 |
|
7 |
10394409 |
19/12/2012 |
450,000,000.00 |
ORIENTAL BANK OF COMMERCE |
STRAND ROAD BRANCH, 2, N. C. DUTTA SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B64980410 |
|
8 |
10386301 |
17/10/2012 |
600,800,000.00 |
CORPORATION BANK |
M-41, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
B62031091 |
|
9 |
10367729 |
24/07/2012 |
535,500,000.00 |
ORIENTAL BANK OF COMMERCE (SECURITY TRUSTEE) |
PARK STREET BRANCH, 107/1, PARK STREET (1ST FLOOR), KOLKATA - 700016, WEST BENGAL, INDIA |
B44593218 |
|
10 |
10367612 |
17/02/2014 * |
4,427,500,000.00 |
ALLAHABAD BANK ( LEADER) |
KOLKATA MAIN BRANCH, 14, INDIA EXCHANGE PLACE, KOLKATA - 700001, WEST BENGAL, INDIA |
B98705395 |
|
11 |
10362966 |
28/03/2013 * |
740,300,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH, 11, HEMANTA BASU SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B73787442 |
|
12 |
10332618 |
27/09/2013 * |
19,156,800,000.00 |
SYNDICATE BANK |
N. S. ROAD BRANCH, 6, N.S.ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
B89927800 |
|
13 |
10311700 |
14/09/2011 * |
495,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5,B.T.M.SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B23271190 |
|
14 |
10302443 |
10/08/2011 |
500,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH, 11, HEMANTA BASU SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B18899492 |
|
15 |
10303285 |
18/02/2013 * |
16,106,800,000.00 |
INDIAN OVERSEAS BANK |
INDIA EXCHANGE
PLACE BRANCH (TITLE DEED HOLDER), P-35, INDIA EXCHANGE PLACE, KOLKATA - |
B70483508 |
|
16 |
10294499 |
17/05/2011 |
500,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH, 11, HEMANTA BASU SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B15946817 |
|
17 |
10266414 |
01/10/2013 * |
15,806,800,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
B90133208 |
|
18 |
10250194 |
11/07/2013 * |
12,500,000,000.00 |
UCO BANK (LEAD BANK) |
FLAGSHIP CORPORATE
BRANCH, "MCLEOD HOUSE", 3, NE |
B79316345 |
|
19 |
10196360 |
22/12/2009 |
1,220,667.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL |
A77320364 |
|
20 |
10174208 |
19/12/2012 * |
1,450,000,000.00 |
STATE BANK OF PATIALA |
MID CORPORATE
BRANCH, 8, CAMAC STREET, SHANTINIK |
B66268707 |
|
21 |
10170571 |
29/06/2009 |
330,000,000.00 |
STATE BANK OF PATIALA |
8,CAMAC STREET,
SHANTINIKETAN BUILDING, KOLKATA - 700017, |
A67290940 |
|
22 |
10167524 |
17/04/2012 * |
1,724,200,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA - 700017, WEST BENGAL, INDIA |
B37788544 |
|
23 |
10165399 |
14/05/2009 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - |
A65103772 |
|
24 |
10140047 |
19/03/2013 * |
1,600,000,000.00 |
STATE BANK OF MYSORE |
BHUBANESWAR BRANCH,
IDCOL HOUSE, UNIT-II, ASHOKNA |
B72995871 |
|
25 |
10140543 |
24/01/2014 * |
750,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21, ERODE ROAD, KARUR - 639002, TAMILNADU, INDIA |
B98069313 |
|
26 |
10123271 |
05/08/2008 |
573,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A45988169 |
|
27 |
10117235 |
03/07/2008 |
4,569,170.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
A43598416 |
|
28 |
10116968 |
23/06/2008 |
360,000,000.00 |
STATE BANK OF PATIALA |
CAMAC STREET, SHANTINIKETAN BUILDING, KOLKATA - 700017, WEST BENGAL, INDIA |
A43559772 |
|
29 |
10113745 |
08/11/2013 * |
19,156,800,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21, ERODE ROAD, KARUR - 639002, TAMILNADU, INDIA |
B90661604 |
|
30 |
10110098 |
31/01/2008 |
1,554,000.00 |
CENTURION BANK OF PUNJAB LIMITED |
88, CHOWRINGHEE ROAD, KOLKATA - 700020, WEST BENGAL, INDIA |
A40211286 |
|
31 |
10087190 |
09/01/2008 |
300,000,000.00 |
STATE BANK OF PATIALA |
8, CAMAC STREET, SHANTINIKETAN BUILDING, KOLKATA - 700017, WEST BENGAL, INDIA |
A31551690 |
|
32 |
10077609 |
17/03/2011 * |
355,000,000.00 |
STATE BANK OF MYSORE |
IDCOL HOUSE,UNIT-II, ASHOKNAGAR, BHUBANESWAR - 751009, ORISSA, INDIA |
B09092149 |
|
33 |
10078219 |
15/11/2007 |
500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - |
A27811769 |
|
34 |
10073706 |
02/01/2014 * |
2,150,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
B92973940 |
|
35 |
10048804 |
17/09/2008 * |
1,310,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
IDCOL HOUSE, ASHOIKNAGAR, UNIT |
A47700430 |
|
36 |
10095427 |
23/12/2013 * |
19,156,800,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, 33, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
B93902195 |
|
37 |
90245825 |
07/08/2008 * |
1,225,400,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, N.S. ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
A46210233 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances, others |
2912.824 |
2912.824 |
|
Total |
2912.824 |
2912.824 |
CORPORATE INFORMATION
Subject, a company registered under the Companies Act, 1956 was previously known as SPS STEEL AND POWER LIMITED and was originally incorporated as Vinayak Steels Private limited on Eighth day of June Nineteen Hundred Ninety Five. The Company's name was changed to CONCAST STEEL AND POWER LIMITED vide the order SRN B08477952 dated 30/03/2011 by the Ministry of Corporate Affairs, Registrar of Companies, West Bengal. The Company has manufacturing Integrated Steel Plant located at Jharsuguda in the state of Odisha.
FINANCIAL
PERFORMANCE:
The financial year has recorded a Net Profit after Tax (PAT) of Rs. 319.000 Millions during the year which has been possible due to better focused marketing efforts and strategical plans of the management.
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
· Bank Guarantee given amounts to Rs 146.800 Millions (P.Y. Rs 111.600 Millions.)
Corporate
Guarantee given by the Company for securing finances to its Subsidiaries of
Subsidiary Company - CONCAST INFRATECH LIMITED to the following Banks-
Rs.164.400 Millions to Oriental Bank of Commerce, Rs.40.000 Millions to
Corporation Bank, Rs.84.300 Millions to Punjab National Bank. (Previous Year
Nil)
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Other
pollution Reduction Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
v
Intangible Assets
Computer
Software
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.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.