MIRA
INFORM REPORT
|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORISSA MANGANESE AND MINERALS LIMITED (w.e.f. 19.05.2008) |
|
|
|
|
Formerly Known
As : |
ORISSA MANGANESE AND MINERALS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
IPICOL House, 3rd Floor, Annexe Building, Janpath,
Bhubaneswar - 751022 Orissa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2013 |
|
|
|
|
Date of
Incorporation : |
30.07.1953 |
|
|
|
|
Com. Reg. No.: |
15-017027 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U13201OR1953PLC017027 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3635J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Iron Ore Pellets and mining of Manganese,
Iron Ore and Graphite. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 17000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of “ADHUNIK METALIKS LIMITED”. It is a
well-established company having fine track. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and fair profitability achieved by the company
from its operational activities. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CARE |
|
Rating |
Long Term Bank Facilities “A” |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
April 07, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities “A2+” |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
April 07, 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
Management is non co-operative, Tel No. 91-33-22890279.
LOCATIONS
|
Registered Office : |
IPICOL House, 3rd Floor, Annexe Building, Janpath,
Bhubaneswar - 751022 Orissa, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Plant : |
Located at: ·
Saraikela Kharswan, Jharkhand, India |
DIRECTORS
As on: 28.11.2013
|
Name : |
Mr. Jugal Kishore Agarwal |
|
Designation : |
Director |
|
Address : |
BA – 209, Salt Lake City, Kolkata - 700064, West Bengal, India |
|
Date of Birth/Age : |
05.10.1951 |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
ADCPA9670K |
|
DIN No.: |
00227460 |
|
|
|
|
Name : |
Mr. Ghanshyam Das Agarwal |
|
Designation : |
Director |
|
Address : |
BA – 209, Salt Lake City, Kolkata - 700064, West Bengal, India |
|
Date of Birth/Age : |
16.10.1957 |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
ACUPA0872G |
|
DIN No.: |
00507800 |
|
|
|
|
Name : |
Mr. Nirmal Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
BA – 209, Salt Lake City, Kolkata - 700064, West Bengal, India |
|
Date of Birth/Age : |
10.01.1962 |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
ACNPA0783F |
|
DIN No.: |
00605669 |
|
|
|
|
Name : |
Mr. Mohan Lal Agarwal |
|
Designation : |
Director |
|
Address : |
BA – 209, Salt Lake City, Kolkata - 700064, West Bengal, India |
|
Date of Birth/Age : |
10.05.1965 |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
ACVPA7179F |
|
DIN No.: |
01047906 |
|
|
|
|
Name : |
Mr. Mahesh Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
BA – 209, Salt Lake City, Kolkata - 700064, West Bengal, India |
|
Date of Birth/Age : |
10.05.1966 |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
ABCPA9259J |
|
DIN No.: |
00507690 |
|
|
|
|
Name : |
Mr. Manoj Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
BA – 209, Salt Lake City, Kolkata - 700064, West Bengal, India |
|
Date of Birth/Age : |
06.08.1969 |
|
Date of Appointment : |
05.04.2007 |
|
PAN No.: |
ADBPA8890N |
|
DIN No.: |
00227871 |
|
|
|
|
Name : |
Mr. Sanjay Pratap |
|
Designation : |
Director |
|
Address : |
07, Tankapani Road, Rashmi Lawns, Bhubaneswar – 751002, Orissa,
India |
|
Date of Birth/Age : |
01.09.1966 |
|
Date of Appointment : |
13.02.2008 |
|
PAN No.: |
AAMPP8100G |
|
DIN No.: |
02053836 |
|
|
|
|
Name : |
Mr. Ramgopal Agarwala |
|
Designation : |
Director |
|
Address : |
B2/39, 2nd Floor, Safdarjung Enclave, Delhi – 110029, India
|
|
Date of Birth/Age : |
14.12.1937 |
|
Date of Appointment : |
30.06.2008 |
|
PAN No.: |
AAMPA5989J |
|
DIN No.: |
02054856 |
KEY EXECUTIVES
|
Name : |
Mr. Alok Kumar Samant |
|
Designation : |
Secretary |
|
Address : |
45E / 15B, Moore Avenue, Kolkata – 700040, West Bengal, India |
|
Date of Birth/Age : |
19.07.1976 |
|
Date of Appointment : |
22.12.2012 |
|
PAN No.: |
AXQPS3281C |
|
|
|
|
Name : |
Mr. Nand Kishore Singhal |
|
Designation : |
Manager |
|
Address : |
293, Hari Sabha Math, Kolkata – 700084, West Bengal, India |
|
Date of Birth/Age : |
17.04.1957 |
|
Date of Appointment : |
28.06.2012 |
|
PAN No.: |
AKTPS2578Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.11.2013
|
Names of Shareholders |
|
No. of Shares |
|
Adhunik Metaliks Limited, India
|
|
19996107 |
|
Jugal Kishore Agarwal |
|
900 |
|
Ghanshyam Das Agarwal |
|
599 |
|
Nirmal Kumar Agarwal |
|
570 |
|
Mohan Lal Agarwal |
|
570 |
|
Mahesh Kumar Agarwal |
|
599 |
|
Manoj Kumar Agarwal |
|
655 |
|
|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.11.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iron Ore Pellets and mining of Manganese,
Iron Ore and Graphite. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Punjab National Bank, 52A, Shakespeare Sarani, Kolkata - 700017, West Bengal, India ·
State Bank Of India, Corporate Accounts Group
Branch, As Lenders Agent, 2nd Floor, 34, Reliance House, J L Nehru
Road,, Kolkata - 700071, West Bengal, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Das and Prasad Chartered Accountants |
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|
Address : |
4, Chowringhee Lane, Block No. III, 8th floor, Siute 8F, Kolkata – 700016, West Bengal, India |
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PAN No.: |
AABFD6463D |
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Holding Company : |
Adhunik Metaliks Limited CIN No.: L28110OR2001PLC017271 |
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Subsidiary and
Fellow Subsidiary Companies : |
Adhunik Power & Natural Resources Limited CIN No.: U40101WB2005PLC102935 Adhunik Power Transmission Limited CIN No.: U28920WB1991PLC052122 Vasundhra Resources Limited CIN No.: U14219WB2008PLC124324 Adhunik Alloys & Power Limited CIN No.: U27104WB2003PLC096616 AADHUNIK STEELS Limited CIN No.: U27109WB1992PLC055488 Adhunik Corporation Limited CIN No.: U27106WB1996PLC076992 Adhunik Industries Limited CIN No.: L65921WB1979PLC032200 Adhunik Infotech Limited CIN No.: U52392WB2003PLC095975 FUTURISTIC STEEL Limited CIN No.: U27107WB1995PLC076049 Orchid Global Resources Pte Limited |
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|
Joint venture
company : |
Neepaz B C Dagara Steels Private Limited CIN No.: U27100OR2010PTC012205 |
CAPITAL STRUCTURE
As on: 28.11.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.06.2013 (12 Months) |
30.06.2012 (15 Months) |
31.03.2011 (12 Months) |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
200.000 |
200.000 |
20.000 |
|
(b) Reserves & Surplus |
4,048.145 |
3,260.369 |
2,627.781 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
4,248.145 |
3,460.369 |
2,647.781 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
7,377.985 |
6,369.189 |
5,280.695 |
|
(b) Deferred tax liabilities (Net) |
800.316 |
639.522 |
344.702 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
24.504 |
17.610 |
10.705 |
|
Total Non-current
Liabilities (3) |
8,202.805 |
7,026.321 |
5,636.102 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1,101.136 |
362.381 |
0.000 |
|
(b) Trade
payables |
1,054.832 |
746.888 |
442.682 |
|
(c)
Other current liabilities |
3,592.603 |
2,523.611 |
1,082.803 |
|
(d) Short-term
provisions |
354.737 |
170.987 |
384.457 |
|
Total Current
Liabilities (4) |
6,103.308 |
3,803.867 |
1,909.942 |
|
|
|
|
|
|
TOTAL |
18,554.258 |
14,290.557 |
10,193.825 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5,528.876 |
4,956.483 |
3,795.744 |
|
(ii)
Intangible Assets |
648.490 |
709.255 |
599.885 |
|
(iii)
Capital work-in-progress |
504.570 |
628.173 |
1,283.346 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
3,592.800 |
2,883.300 |
1,165.900 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1,587.403 |
1,355.288 |
615.122 |
|
(e) Other
Non-current assets |
31.932 |
32.837 |
25.126 |
|
Total Non-Current
Assets |
11,894.071 |
10,565.336 |
7,485.123 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1,571.206 |
1,300.613 |
905.866 |
|
(c)
Trade receivables |
1,259.156 |
825.118 |
301.585 |
|
(d) Cash
and cash equivalents |
151.699 |
707.735 |
655.203 |
|
(e) Short-term
loans and advances |
3,640.740 |
887.086 |
845.597 |
|
(f)
Other current assets |
37.386 |
4.669 |
0.451 |
|
Total
Current Assets |
6,660.187 |
3,725.221 |
2,708.702 |
|
|
|
|
|
|
TOTAL |
18,554.258 |
14,290.557 |
10,193.825 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2013 |
30.06.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
9,291.547 |
6,731.986 |
4,446.372 |
|
|
Other Income |
177.182 |
366.722 |
162.713 |
|
|
TOTAL |
9,468.729 |
7,098.708 |
4,609.085 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3,425.992 |
1,818.394 |
4.910 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(229.153) |
(201.772) |
(384.886) |
|
|
Employees benefits
expense |
338.716 |
323.338 |
187.019 |
|
|
Prior period items |
1.322 |
0.596 |
0.000 |
|
|
Other expenses |
3,008.878 |
2,288.696 |
1,815.839 |
|
|
TOTAL |
6,545.755 |
4,229.252 |
1,622.882 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2,922.974 |
2,869.456 |
2,986.203 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1,326.889 |
1,210.573 |
548.797 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1,596.085 |
1,658.883 |
2,437.406 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
420.206 |
460.565 |
166.756 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1,175.879 |
1,198.318 |
2,270.650 |
|
|
|
|
|
|
|
Less |
TAX |
388.103 |
385.730 |
758.092 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
787.776 |
812.588 |
1,512.558 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
3,080.613 |
2,448.025 |
1,295.923 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Bonus Share Issued |
0.000 |
180.000 |
0.000 |
|
|
Proposed Dividend |
0.000 |
0.000 |
180.000 |
|
|
Corporate Dividend Tax |
0.000 |
0.000 |
29.200 |
|
|
General Reserve |
0.000 |
0.000 |
151.256 |
|
|
Balance Carried to the
B/S |
3,868.389 |
3,080.613 |
2,448.025 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
39.39 |
40.63 |
75.63 |
KEY RATIOS
|
PARTICULARS |
|
30.06.2013 |
30.06.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.32 |
11.45 |
32.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.66 |
17.80 |
51.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.13 |
11.12 |
29.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.35 |
0.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.00 |
1.95 |
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
0.98 |
1.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
20.000 |
200.000 |
200.000 |
|
Reserves & Surplus |
2,627.781 |
3,260.369 |
4,048.145 |
|
Net worth |
2,647.781 |
3,460.369 |
4,248.145 |
|
|
|
|
|
|
long-term borrowings |
5,280.695 |
6,369.189 |
7,377.985 |
|
Short term borrowings |
0.000 |
362.381 |
1,101.136 |
|
Total borrowings |
5,280.695 |
6,731.570 |
8,479.121 |
|
Debt/Equity ratio |
1.994 |
1.945 |
1.996 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
4,446.372 |
6,731.986 |
9,291.547 |
|
|
|
51.404 |
38.021 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
4,446.372 |
6,731.986 |
9,291.547 |
|
Profit |
1,512.558 |
812.588 |
787.776 |
|
|
34.02% |
12.07% |
8.48% |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE: The
registered office of the company has been shifted from 2/1A, Sarat Bose Road,
6th Floor, Kolkata – 700020, West Bengal, India to present address w.e.f.29.05.2013.
OPERATIONS
The company value addition business of 1.2 MTPA seen the first full year of operations after commencement last year. The company achieved production volumes of 0.85 MT during the year contributing net revenue of Rs.6055.300 Millions i.e. around 65% of the total net revenues of the company. The company mining business also performed decently in spite of being faced with regulatory issues in Indian Mining Industry. The company achieved iron ore sales volume of 0.81 MT and manganese ore volumes of 0.04 MT during the year.
The company’s net income from operations is Rs.9291.500 Millions and profit after tax is Rs.787.700 Millions in financial year 2013. Since, the last accounting year was for a period of 15(fifteen) months, the current period's figures which are for 12 (Twelve) months are not comparable with the previous year's figures.
UNSECURED LOAN
(Rs. In Millions)
|
|
As on 30.06.2013 |
As on 30.06.2012 |
|
Long Term
Borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
500.000 |
|
|
|
|
|
Total |
0.000 |
500.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10487186 |
26/03/2014 |
21,287,900,000.00 |
State Bank of India |
CORPORATE ACCOUNTS GROUP BRANCH, AS LENDERS AGENT, 2ND FLOOR, 34, RELIANCE HOUSE, J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
C01220268 |
|
2 |
10487162 |
20/02/2014 |
15,220,000,000.00 |
State Bank of India |
CORPORATE ACCOUNTS GROUP BRANCH, AS LEAD BANK, 2N |
C01215078 |
|
3 |
10480990 |
30/01/2014 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
52A, SHAKESPEARE SARANI, KOLKATA - 700017, West Bengal, INDIA |
B97781777 |
|
4 |
10475876 |
18/01/2014 |
750,000,000.00 |
BANK OF BARODA |
Indian Exchange Place Branch, 4, Indian Exchange Place, KOLKATA - 700001, West Bengal, INDIA |
B95610945 |
|
5 |
10465615 |
13/12/2013 |
1,000,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD, |
B91721464 |
|
6 |
10465813 |
13/12/2013 |
1,200,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD, |
B91819722 |
|
7 |
10462539 |
20/11/2013 |
1,490,000,000.00 |
PUNJAB NATIONAL BANK |
52A, SHAKESPEARE SARANI, KOLKATA - 700017, West Bengal, INDIA |
B90469354 |
|
8 |
10454762 |
18/10/2013 |
1,500,000,000.00 |
IFCI LIMITED |
IFCI TOWER, 61 NEHRU PLACE, NEW DELHI, Delhi - 110019, INDIA |
B87438057 |
|
9 |
10449728 |
20/09/2013 |
1,000,000,000.00 |
Punjab & Sind Bank |
IBD Branch, 14-15, Old Court Street, Kolkata - 700001, West Bengal, INDIA |
B85269371 |
|
10 |
10449736 |
20/09/2013 |
1,000,000,000.00 |
Punjab & Sind Bank |
IBD Branch, 14-15, Old Court Street, Kolkata - 700001, West Bengal, INDIA |
B85273951 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
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.58.84 |
|
|
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.