MIRA
INFORM REPORT
|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HALDIA PETROCHEMICALS LIMITED |
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Registered
Office : |
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Country : |
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|
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Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
16.09.1985 |
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|
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|
Com. Reg. No.: |
21-039487 |
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Capital
Investment / Paid-up Capital : |
Rs. 19590.210 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209WB1985SGC039487 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALH00472D |
|
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|
|
PAN No.: [Permanent Account No.] |
AAACH7360R |
|
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Petrochemical Polymers Products. |
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|
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|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (21) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Exists |
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|
Comments : |
Subject is a joint venture between the Government of West Bengal, the
Dr. Purnendu Chatterjee Petrochem (Mauritius) and the Tata
Group. It is an established company having a moderate track record. Even though there seems some growth in its revenue from operations
during 2013, it has incurred heavy loss from its operations. There also seems
huge accumulated losses recorded by the company. However, business is active. Payment terms are reported as slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies
between April and January of 2013/14 which has seen some signs of recovery
according to a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Terms Loans = D |
|
Rating Explanation |
Expected to be in Default |
|
Date |
March, 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 : |
Ms. Vijaya |
|
Designation : |
Administrative Department |
|
Contact No.: |
91-33-22831640 |
LOCATIONS
|
Registered/ Eastern
Regional/ Corporate Office: |
|
|
Tel. No.: |
91-33-22831640/ 43/ 45 / 471024 / 22831637 /22806221 |
|
Fax No.: |
91-33-22802390/ 1654 |
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E-Mail : |
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Websites: |
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Location: |
Owned |
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Factory : |
Post |
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Tel. No.: |
91-3224-274007/ 877/ 876/ 882/ 384 |
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Fax No.: |
91-3224-274420 |
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E-Mail : |
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54 / A/1 Block – DN, sector 5, |
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Tel. No.: |
91-33-23673491/ 3492/ 3061/ 3062/ 3495/ 91-3224-274007 / 877/876/882/384 |
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Fax No.: |
91-33-23679890/ 22471361/ 1102 |
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E-Mail : |
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Southern
Regional Office: |
2A |
|
Tel. No.: |
91-44-24341003 / 9929 / 8592 |
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Fax No.: |
91-44-2434 1401 |
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E-Mail : |
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Northern
Regional Office: |
903, Ansal Bhawan,
16 Kasturba Gandhi Marg, |
|
Tel. No.: |
91-11-23315606 / 5626 / 2372
1348 / 3176 |
|
Fax No.: |
91-11-2372 3327 |
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E-Mail : |
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Western Regional Office |
106-108 |
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Tel. No.: |
91-22-26590653 / 113/ 219 /318 |
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Fax No.: |
91-22-2659 0114 |
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E-Mail : |
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Area Sales
Office: |
18, Old Palasia 102C, Kanchan Sagar, Tel No: 91-731-2547452
/ 5066979 Fax No:91-731-5066979 Email: asoindo@hpl.co.in Mega Sri Classics, 301, 4th Floor, Tel no: 91-40-55633072 Fax No: 91-40-23358302 Email: asohyd@hpl.co.in 6, Prabhu Sadbhavana,
9/56 Arya Nagar, Tel no: 91-512-255 6863 Fax no: 91-512 -2555089 Email: asokan@hpl.co.in Jaipur
Office: 225, City Centre, Tel no: 91-141-237 6910 Fax No: 91-141-2367910 Email: asojai@hpl.co.in Flat - B, 5th Floor, Noble Enclave, Bhaiwala
Chawk, Tel no: 91-161- 403853 / 315136 Fax no: 91-161- 403853 Email: asoludh@hpl.co.in Ahmedabad Office: B - 504, Suhavan Apartments, Opp. Judges Bunglow Road, Near Rudra
Square, Vastrapur,
Bodak-Deb, Ahmedabad – 380015, Gujarat, India Tel no: 91-79-6870594 / 6871508 C/O. Adda Office, City Centre, 1st
Floor, Tel No:91-343-546815/6716,
Extn. 232 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Uttam Kumar Basu |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Sisir Kumar Mukherjee |
|
Designation : |
Director |
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|
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|
Name : |
Mr. S K Arora |
|
Designation : |
Director |
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|
Name : |
Mr. Sumit Sanghai |
|
Designation : |
Director |
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|
Name : |
Mr. H K Dwivedi |
|
Designation : |
Director |
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|
Name : |
Mr. C M Bachhawat |
|
Designation : |
Director |
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|
Name : |
Dr. Krishna Gupta |
|
Designation : |
Director |
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|
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|
Name : |
Dr. P Chatterjee |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Subhasendu Chatterjee |
|
Designation : |
Director |
|
Address : |
L – 3, Kailash Colony, Second Floor, |
|
Date of Birth/Age : |
13.07.1947 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
04.05.1999 |
|
DIN No.: |
00153459 |
|
|
|
|
Name : |
Mr. Vijay K Chaudhry |
|
Designation : |
Director |
|
Address : |
6126 – A, |
|
Date of Birth/Age : |
19.06.1945 |
|
Qualification : |
B.Tech (IIT), MBA ( |
|
Date of Appointment : |
22.08.2009 |
|
DIN No.: |
02761079 |
|
|
|
|
Name : |
Mr. R Vasudevan |
|
Designation : |
Director |
|
Address : |
F – 262, Greater Kailash Part – 1, |
|
Date of Birth/Age : |
14.06.1937 |
|
Qualification : |
IAS (Retired) MA, MPA ( |
|
Date of Appointment : |
25.07.1997 |
|
DIN No.: |
00025334 |
|
|
|
|
Name : |
Mr. Jamshyd Naoroji Godrej |
|
Designation : |
Director |
|
Address : |
40, |
|
Date of Birth/Age : |
24.01.1949 |
|
Qualification : |
MSc, Business Admin., |
|
Date of Appointment : |
24.02.2012 |
|
DIN No.: |
00076250 |
|
|
|
|
Name : |
Mr. S K V Srinivasan |
|
Designation : |
Director |
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|
|
|
Name : |
Dr. S. S. Banerjee |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Vijaya |
|
Designation : |
Administrative Department |
|
|
|
|
Name : |
Aloke Chattopadhyay |
|
Designation : |
Secretary |
|
Address : |
125, Bonomali Nashar Road, Kolkata – 700 060, West Bengal, India |
|
Date of Birth/Age : |
03.01.1955 |
|
Date of Appointment : |
19.04.2005 |
|
PAN No.: |
ACHPC7998L |
|
|
|
|
Audit Committee |
· Mr. Sisir Kumar Mukherjee, Chairman · Mr. H. K. Dwivedi · Mr. S K Arora · Mr. S Chatterjee · Mr. S K V Srinivasan |
|
|
|
|
Margin Committee |
· Dr. Krishna Gupta, Chairman · Mr. S Chatterjee · Mr. S K V Srinivasan · Mr. Sumit Sanghai |
|
|
|
|
Borrowings and Risk
Management Committee |
· Mr. H. K. Dwivedi, Chairman · Dr. S S Banerjee · Mr. S K Arora · Mr. V K Chaudhry |
|
|
|
|
Personnel & Remuneration
Committee |
· Dr. P Chatterjee · Mr. C M Bachhawat · Dr. S S Banerjee |
|
|
|
|
Empowered Committee
for CDR |
· Mr. C M Bachhawat, Chairman · Dr. P Chatterjee, Vice Chairman · Dr. Krishna Gupta · Mr. S Chatterjee |
|
|
|
|
Project &
Technology Committee |
· Dr. Krishna Gupta, Chairman · Dr. P Chatterjee · Mr. S K V Srinivasan · Mr. R Vasudevan · Mr. Sumit Sanghai |
|
|
|
|
HSE Committee |
· Mr. Sisir Kumar Mukherjee, Chairman · Dr. S S Banerjee · Mr. C M Bachhawat · Mr. S Chatterjee |
|
|
|
|
Board Level Committee
– Demurrage on Naphtha Imports |
· Dr. Krishna Gupta · Mr. Sumit Sanghai · Mr. S Chatterjee |
|
|
|
|
Committee to review
Swapping/Tolling arrangement |
· Dr. Krishna Gupta · Mr. Sumit Sanghai |
|
|
|
|
Board Committee to
oversee Smooth PLant Operation |
· Mr. Sisir Kumar Mukherjee · Mr. C M Bachhawat · Dr. Krishna Gupta |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Names of Shareholders |
|
No. of Shares |
|
Equity Share |
|
|
|
West Bengal Industrial Development Corporation Limited |
|
675000000 |
|
Chatterjee Petrochem
(Mauritius) Company |
|
432857148 |
|
India Trade (Mauritius) Limited |
|
107142852 |
|
Winstar India Investment Company Limited |
|
127400000 |
|
Indian Oil Corporation Limited |
|
150000000 |
|
|
|
|
|
Cumulative
Redeemable Preference Shares |
|
|
|
West Bengal Industrial Development Corporation Limited |
|
17484165 |
|
West Bengal Industrial Development Finance Corporation Limited |
|
194619571 |
|
West Bengal Industrial Infrastructure Development Corporation Limited |
|
58978082 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Petrochemical Polymers
Products. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
China ·
Part of Europe ·
Vietnam |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Middle East ·
Abu Dhabi |
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Terms : |
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|
Selling : |
Cash / Advance Payment / L/C / Cheque /
Credit |
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|
Purchasing : |
Cash / Advance Payment / L/C / Cheque /
Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
United Bank of India, Old Court House Street
Branch, 11, Hemanta Basu Sarani, Kolkata – 700 001, West
Bengal, India ·
Union Bank, 1/1, Camac
Street, Kolkata – 700 016, West Bengal, India ·
State bank of India, CAG branch, 2nd
Floor, Reliance House, 34, J L Nehru Road, Kolkata
– 700 071, West Bengal, India ·
Export
- Import Bank of India, Floor 21, Centre One Building, Cuffe
Parade, Mumbai – 400 005, Maharashtra, India |
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Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Lodha and Company Chartered Accountants |
|
Address : |
Lodhar and Company 14, |
|
PAN No.: |
AABFL1894Q |
|
|
|
|
Name 2 : |
P.A. and Associates Chartered Accountants |
|
Address : |
PA and
Associates , 20, Govind Bihar Bamikhal
, Bhubaneshwar-751010, |
|
PAN No.: |
AAFFP2414G |
|
|
|
|
|
|
|
Subsidiaries : |
CIN No.: U45202WB1998PLC087462
CIN No.: U45201WB1998PLC086768 |
|
|
|
|
Companies having Substantial Interest in the Company |
CIN No.: U75142WB1967SGC026988
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2200000000 |
Equity Shares |
Rs. 10/- each |
Rs. 22000.000 Millions |
|
300000000 |
Preference Shares |
Rs. 10/- each |
Rs. 3000.000 Millions |
|
|
TOTAL |
|
Rs. 25000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1687938532 |
Equity Shares |
Rs. 10/- each |
Rs.
16879.390 millions |
|
271081818 |
Preference Shares |
Rs. 10/- each |
Rs. 2710.820 millions |
|
|
TOTAL |
|
Rs. 19590.210 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
19590.210 |
19590.210 |
|
(b) Reserves & Surplus |
|
(14401.340) |
(4800.220) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
5188.870 |
14789.990 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
11890.060 |
15430.710 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
1131.580 |
|
(c) Other long term liabilities |
|
10.960 |
10.310 |
|
(d) long-term provisions |
|
75.250 |
77.250 |
|
Total Non-current Liabilities (3) |
|
11976.270 |
16649.850 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
10775.970 |
14684.730 |
|
(b) Trade payables |
|
21538.370 |
13078.080 |
|
(c) Other current
liabilities |
|
8017.100 |
4827.350 |
|
(d) Short-term provisions |
|
203.310 |
211.460 |
|
Total Current Liabilities (4) |
|
40534.750 |
32801.620 |
|
|
|
|
|
|
TOTAL |
|
57699.890 |
64241.460 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
38368.800 |
42261.040 |
|
(ii) Intangible Assets |
|
519.870 |
757.860 |
|
(iii) Capital
work-in-progress |
|
72.740 |
100.640 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
175.550 |
175.550 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2052.150 |
1996.610 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
41189.110 |
45291.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
50.000 |
|
(b) Inventories |
|
10823.010 |
12440.220 |
|
(c) Trade receivables |
|
840.650 |
1619.160 |
|
(d) Cash and cash
equivalents |
|
123.540 |
859.550 |
|
(e) Short-term loans and
advances |
|
1035.910 |
1125.330 |
|
(f) Other current assets |
|
3687.670 |
2855.500 |
|
Total Current Assets |
|
16510.780 |
18949.760 |
|
|
|
|
|
|
TOTAL |
|
57699.890 |
64241.460 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
86601.300 |
81344.470 |
|
|
|
Other Income |
|
26.220 |
188.250 |
|
|
|
TOTAL (A) |
|
86627.520 |
81532.720 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
74681.360 |
70016.130 |
|
|
|
Purchases of Stock-in-Trade |
|
307.560 |
396.840 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
781.030 |
(371.690) |
|
|
|
Employees benefits expense |
|
841.430 |
920.310 |
|
|
|
Exceptional Items |
|
0.000 |
(932.110) |
|
|
|
Other expenses |
|
12109.490 |
11972.220 |
|
|
|
TOTAL (B) |
|
88720.870 |
82001.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(2093.350) |
(468.980) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
4336.560 |
3875.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(6429.910) |
(4344.060) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
|
4277.670 |
4241.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
(10707.580) |
(8585.630) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(1106.460) |
(1121.770) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(9601.120) |
(7463.860) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
|
23935.580 |
27078.500 |
|
|
|
Interest |
|
0.010 |
0.000 |
|
|
|
Recovery of Demurrage |
|
4.07 |
7.410 |
|
|
TOTAL EARNINGS |
|
23939.660 |
27085.910 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
51202.32 |
51642.940 |
|
|
|
Chemicals, Catalysts, Additives and Spares |
|
1412.41 |
1542.000 |
|
|
|
Capital Goods |
|
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
|
52614.730 |
53184.940 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
(6.17) |
(4.80) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
(11.08) |
(9.15) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(12.36) |
(10.55) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(18.64) |
(13.42) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(2.06) |
(0.58) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
4.37 |
2.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.41 |
0.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
19590.210 |
19590.210 |
|
Reserves & Surplus |
|
(4800.220) |
(14401.340) |
|
Net
worth |
|
14789.990 |
5188.870 |
|
|
|
|
|
|
long-term borrowings |
|
15430.710 |
11890.060 |
|
Short term borrowings |
|
14684.730 |
10775.970 |
|
Total
borrowings |
|
30115.440 |
22666.030 |
|
Debt/Equity
ratio |
|
2.036 |
4.368 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
81344.470 |
86601.300 |
|
|
|
|
6.462 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
81344.470 |
86601.300 |
|
Profit / (Loss) |
|
(7463.860) |
(9601.120) |
|
|
|
|
(11.09%) |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
LITIGATION
DETAILS:
|
Case
Status : Pending
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10473077 |
28/12/2013 * |
23,400,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3 N S ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94665262 |
|
2 |
10470817 |
28/12/2013 * |
16,400,000.00 |
CENTRAL BANK OF INDIA |
33 NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94437852 |
|
3 |
10470715 |
28/12/2013 * |
6,100,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
14, NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94596814 |
|
4 |
10457070 |
28/12/2013 * |
33,000,000.00 |
STATE BANK OF MYSORE |
1- 2, OLD COURT HOUSE CORNER, TOBACCO HOUSE, KOLKATA, WEST BENGAL - 700001, INDIA |
B94651726 |
|
5 |
10455824 |
28/12/2013 * |
338,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 44, PARK SRTEET, KOKATA, |
B94549177 |
|
6 |
10454554 |
28/12/2013 * |
46,900,000.00 |
CANARA BANK |
LOWER CIRCULAR ROAD, 9, LALA LAJPAT RAI SARANI, KOLKATA, WEST BENGAL - 700020, INDIA |
B94250008 |
|
7 |
10452453 |
28/12/2013 * |
23,300,000.00 |
INDIAN BANK |
3A HARE STREET, KOLKATA, WEST BENGAL - 700001, INDIA |
B94269669 |
|
8 |
10451020 |
28/12/2013 * |
81,200,000.00 |
DENA BANK |
16A BRABOURNE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B94597747 |
|
9 |
10443634 |
28/12/2013 * |
295,000,000.00 |
ALLAHABAD BANK |
IFB KOLKATA, 17, R.N MUKHERJEE ROAD FOURTH FLOOR, |
B94247889 |
|
10 |
10443446 |
28/12/2013 * |
532,900,000.00 |
IDBI BANK LIMITED |
44 SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700017, INDIA |
B94250974 |
|
11 |
10442350 |
28/12/2013 * |
270,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 1/1 CAMAC STREET, KOLK |
B94435047 |
|
12 |
10438981 |
28/12/2013 * |
1,150,000,000.00 |
STATE BANK OF INDIA |
2ND FLOOR, RELIANCE HOUSE, 34, JAWAHARLAL NEHRU ROAD, KOLKATA, WEST BENGAL - 700071, INDIA |
B92972165 |
|
13 |
10437811 |
28/12/2013 * |
177,500,000.00 |
STATE BANK OF HYDERABAD |
COMMERCIAL BRANCH, 83, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B94496957 |
|
14 |
10438516 |
28/12/2013 * |
126,200,000.00 |
THE KARUR VYSYA BANK LIMITED |
9 RAMSEVAK MULLICK LANE, (OFF) 43 STRAND ROAD, KOLKATA, WEST BENGAL - 700007, INDIA |
B94279569 |
|
15 |
10437807 |
28/12/2013 * |
38,000,000.00 |
INDIAN OVERSEAS BANK |
INDIA EXCHANGE PLACE BRANCH, P 35, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
B94274800 |
|
16 |
10334961 |
16/08/2012 * |
300,000,000.00 |
UNION BANK |
1/1 CAMAC STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B57423857 |
|
17 |
10309832 |
16/08/2012 * |
750,000,000.00 |
IDBI BANK LIMITED |
44, SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700 017, INDIA |
B57423303 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Equipments
·
Furniture and Fixtures
·
Vehicles
·
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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
21 |
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.