MIRA INFORM REPORT

 

 

Report Date :

21.11.2014

 

IDENTIFICATION DETAILS

 

Name :

ESSAR STEEL INDIA LIMITED (w.e.f.18.01.2012)

 

 

Formerly Known As :

ESSAR STEEL LIMITED

 

 

Registered Office :

27Km, Surat Hazira Road, Hazira, Surat – 394270, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

01.06.1976

 

 

Com. Reg. No.:

04-013787

 

 

Capital Investment / Paid-up Capital :

Rs.28418.000 Millions

 

 

CIN No.:

[Company Identification No.]

U27100GJ1976FLC013787

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTE00025E

 

 

PAN No.:

[Permanent Account No.]

AAACE1741P

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing and Selling of Steel Products.

 

 

No. of Employees :

Information denied by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 200000000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Exist

 

 

Comments :

Subject is a part of “Essar Group”.

 

It is an established company having moderate track record.

 

The company possesses a weak financial profile marked by consecutive losses which has further deteriorated the position of reserves during 2013.

 

The rating take into consideration the liquidity pressures faced due to extraneous challenges impacting in running of steel plant. However, the infusion of funds from the part of promoters has slightly eased the liquidity position and in turn has nurtured the gradual improvement in its ongoing financing exercise.

 

Trade relations are fair. Business is active. Payment terms are reported as slow.

 

In view of support from its group company, the subject can be considered for business dealings with great caution.

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

N E W S

 

Verdict Implications: Apex court order may alter coal import dynamics. Traders go slowly on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

 

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn Business Empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M a M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

 

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities = C

Rating Explanation

Have very high risk of default.

Date

24.10.2013

 

 

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 31-03-2014.

 

 

INFORMATION DENIED

 

Management Non Co-Operative (Tel No.: 91-261-2872400)

 

 

LOCATIONS

 

Registered Office/ Plant 1  :

27Km., Surat Hazira Road, Hazira, Surat – 394270, Gujarat, India

Tel. No.:

91-261-2872400/ 6682400

Fax No.:

91-261-2872400/ 6682796/ 6685731

E-Mail :

rakesh.darji@essar.com

dilip.deokar@essar.com

promod.s@essar.com

steel@essar.com

webmaster@essar.com

Website :

http://www.essar.com

 

 

Corporate Office :

Essar House, 11, Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400034, Maharashtra, India

Tel. No.:

91-22-66601100 / 24950606

Fax No.:

91-22-24928896

 

 

Marketing and Sales Office :

6th Floor, Tower-2, Equinox Business Park (Peninsula Techno Park) Off Bandra Kurla Complex, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra, India

Tel. No.:

91-22-67335000

Fax No.:

91-22-67082189

E-Mail :

steel@essar.com

 

 

Plant 2 :

Vishakhapatnam

 

Scindia Road, Near Flyover, Visakhapatnam – 530004, Andhra Pradesh, India

Tel. No.:

91-891-2523213

Fax No.:

91-891-2559383/ 2556907

 

 

Processing and Distribution Facility Network :

Gat No - 437 and 442, Golechiwadi, Ambi-Nigade Road, MIDC-Talegaon, Pune - 410507, Maharashtra, India 

Tel. No.:

91-211-4661401

 

 

Regional Head :

Plot No A - 6,Sipcot, Oragadam, Sriperumbudur (TK) Kanchipuram, Chennai – 602112, Tamilnadu, India

 

 

Overseas Offices [Plants] :

Located at

 

  • Canada
  • Indonesia
  • United Kingdom
  • United Arab Emirates
  • Germany
  • China

 

 

DIRECTORS

 

As on 31.03.2013

 

Name :

Mr. Shashikant Nandkishore Ruia

Designation :

Director

Address :

67-A, Walkeshwar Road, Opposite Birla School, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

23.12.1943

Date of Appointment :

01.06.1976

DIN No. :

00047050

 

 

Name :

Mr. Jatinder Dinanath Mehra

Designation :

Director

Address :

C-1/36, Safdarjung Dev Area, New Delhi - 110016, India

Date of Birth/Age :

03.03.1939

Date of Appointment :

25.06.1997

DIN No. :

00042789

 

 

Name :

Mr. Venkatraman Govind Raghavan

Designation :

Director

Address :

Flat No 171/172, 17th Floor, Kalpataru Residency, Sion Circle, Sion (East), Mumbai - 400022, Maharashtra, India

Date of Birth/Age :

16.07.1945

Date of Appointment :

29.10.2003

DIN No. :

00008683

 

 

Name :

Mr. Dilip Oommen

Designation :

Managing Director

Address :

D-3/4 Nand Niketan Essar Township, Hazira, Surat - 394270, Gujarat, India

Date of Birth/Age :

28.03.1958

Qualification :

Metallurgical engineering from IIT, Kharagpur

Date of Appointment :

07.07.2008

DIN No. :

02285794

 

 

Name :

Mr. Rana Khagendranath Som

Designation :

Additional director

Address :

B-256, Asian Games Village, Ganapati Andalkar Block, New Delhi - 110049, India

Date of Birth/Age :

01.01.1952

Date of Appointment :

03.09.2012

DIN No. :

00352904

 

 

Name :

Mr. Arvind Pande

Designation :

Director

Date of Appointment :

29.05.2013

 

 

Name :

S. S. Kohli

Designation :

Director

Date of Appointment :

29.05.2013

 

 

Name :

S. R. Jain

Designation :

Director

Date of Appointment :

29.05.2013

 

 

Name :

Mr. Alok Dhir

Designation :

Director

Date of Appointment :

29.05.2013

 

 

Name :

Mr. Alok Gupta

Designation :

Director (Marketing)

 

 

Name :

Mr. Ashutosh Agarwala

Designation :

Director (Finance)

Date of Appointment :

29.05.2013

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh Muljibhai Darji

Designation :

Company Secretary

Address :

C/602, Royal Complex, Jay Bhavani Road, Kasambaug, Malad (East), Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

25.10.1973

Date of Appointment :

09.09.2011

PAN No. :

AFRPD7254H

 

MAJOR SHAREHOLDERS

 

As on 31.03.2013

 

Names of Shareholders

No. of Shares

Essar Steel Asia Holdings Limited

1976845435

Essar Steel Limited, Mauritius

118902096

Imperial Consultants and Securities Private Limited

421760954

Shares under Trust (Venkatraman Govind Raghavan)

191517500

 

As on 08.06.2013

 

Names of Allottees

No. of Shares

Essar Steel Limited, Mauritius

5956519

Total

5956519

 

As on 04.12.2013

 

Names of Allottees

No. of Shares

Imperial Consultants and Securites Private Limited, India

21460177

Total

21460177

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 20.10.2012

 

Category

Percentage

Public financial companies

0.03

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

72.97

Bodies corporate

17.13

Other top fifty shareholders

7.49

Others

2.38

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Selling of Steel Products.

 

 

Products :

Product Description

Item Code No.

Iron Ores and Concent Rates, Other than Roasted Iron Pyrites

2601

Ferrous Products Obtained by Direct Reduction of Iron Ore and Other Spongy Ferrous Products in Lumps, Pellets or Similar Forms

7203

Flat Rolled Products of Iron or Non Alloy Steel of a Width of 600 MM or More Hot Rolled, Not Clad, Plated or Coated

7208

Flat Rolled Products of Iron or Non Alloy Steel of a Width of 600 MM Clad Plated or Coated with Zinc

7210

Flat Rolled Products of Iron or Non Alloy Steel of a Width of Less than 600 MM Hot Rolled, Not Clad, Plated or Coated

7211

Pipes and Hollow Profile Seamless or Iron or Steel for Used in Oil and Gas Pipeline

7304

 

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS (As on 31.03.2013)

 

Particulars

Unit

Production

 

Iron Ore Pellet**

MT

5,662,187

Hot Briquette Iron / Direct Reduced Iron

MT

2,333,337

Hot Metal

MT

2,665,264

Hot Rolled Coils/Cold Rolled Coils/Plates

MT

3,693,136

Plates

MT

520,811

Pipes

MT

159,075

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

Information denied by management

 

 

Bankers :

·         Allahabad Bank

·         Axis Bank Limited

·         Bank Of Baroda

·         Bank Of India

·         Canara Bank

·         Central Bank Of India

·         Export Import Bank Of India

·         HDFC Bank Limited

·         ICICI Bank Limited

·         IDBI Bank Limited

·         Indian Overseas Bank

·         Punjab National Bank

·         State Bank Of Bikaner And Jaipur

·         State Bank Of Hyderabad

·         State Bank Of India

·         State Bank Of Mysore

·         State Bank Of Patiala

·         Syndicate Bank

·         The Federal Bank Limited

·         The Jammu And Kashmir Bank Limited

·         UCO Bank

·         Union Bank Of India

·         Yes Bank Limited

 

Banker Name

Corporation Bank

Branch Address

Industrial Finance Branch,  104 Bharat House, Mumbai Samachar Marg Fort, Mumbai - 400023, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

 

Particulars

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

LONG TERM BORROWINGS

 

 

13.4% Non-Convertible Debentures of Rs.1000000 each

5250.000

10000.000

Term Loans

 

 

--From Banks

199543.100

134379.000

--From Others

13983.900

4572.200

Buyers Credit for Capital Expenditure

6499.200

15338.300

SHORT TERM BORROWINGS

 

 

Short Term Loans

 

 

--From Banks

7000.000

22750.000

--From Others

0.000

10500.000

Working Capital Loans – From Banks

9674.200

12816.800

Buyer’s Credit for Operational Expenditure

14751.300

30433.200

Buyers Credit Capital Expenditure

160.700

114.000

Total

256862.400

240903.500

 

 

 

Banking Relations :

--

 

 

Financial Institution :

SBICAP Trustee Company Limited, Mumbai - 400005, Maharashtra, India

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells,

Chartered Accountants

Address :

12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai, Maharashtra, India

PAN No.:

AABFD7919A

 

 

Memberships :

---

 

 

Collaborators :

---

 

 

Holding Companies :

·         Essar Steel Asia Holdings Limited (FKA Essar Resources Mauritius Limited) Immediate Holding Company- (ESAHL) (w.e.f. 29.06.2012)

·         Essar Steel Mauritius Limited - Holding Company of Essar Steel Asia Holdings Limited - (ESML)

·         Essar Steel Limited - Mauritius - Immediate Holding Company (ESTLM) (upto 28.06.2012)

·         Essar Global Fund Limited (FKA Essar Global Limited)

 

 

Subsidiaries :

·         Essar Steel Middle East FZE (ESMEF)

·         Essar Steel Trading FZE (ESTF)

·         Essar Steel Offshore Limited. (ESOSL)

·         Essar Steel Overseas Limited. (ESOL) **

·         Trinity Coal Marketing LLC (EMA) *

·         Essar Minerals Limited (FKA Essar Mining Limited) *

·         Essar Mineral Cooperatief U.A. *

·         Essar Minerals Canada Limited *

·         Essar Minerals INC *

·         Trinity Parent Corporation *

·         Trinity Coal Corporation *

·         Trinity Coal Partners LLC *

·         Bear Fork Resources LLC *

·         Deep Water Resources LLC *

·         Levisa Fork Resources LLC *

·         North Springs Resources LLC *

·         Little Elk Mining Company LLC *

·         Banner Coal Terminal LLC *

·         Hughes Creek terminal LLC *

·         Frasure Creek Mining LLC *

·         Falcon Resources LLC *

·         Prater Branch Resources LLC *

·         Trinity RMG Holding LLC *

·         RMG INC *

  • *These companies are subsidiaries of a wholly owned subsidiary of the Company
  • ** Liquidated w.e.f. 13.09.2012

 

 

Fellow Subsidiaries :

·         Aegis Limited (AEGIS)

·         Essar Power(Jharkhand)Limited (EPJL)

·         Essar Africa Holdings Limited (EAHL)

·         Essar Bulk Terminal Paradeep Limited (EBTPL)

·         Essar Electric Power Development Corporation Limited (EEPDCL)

·         Essar Logistics Limited (ELL)

·         EssarMineral Resources Limited (EMRL)

·         EssarOffshore Subsea Limited (EOSL)

·         Essar Oil Limited (EOL)

·         Essar Port Limited (EPL)

·         EssarSteel Algomalnc.(ESA-INC)

·         Essar Steel Processing and Distribution UK Limited (ESPD UK)

·         PT Essarlndonesia(PTEI)

·         Vadinar Oil Terminals Limited (VOTL)

·         Vadinar Power Company Limited (VPOCL)

·         AgcNetworksLimited (Formally Avaya Global) (AGCNL)

·         Equinox Business Parks Private Limited (EBPPL)

·         Essar Bulk Terminal (Salaya) Limited (EBTSL)

·         Essar Oilfields Services Limited (EOSPL)

·         Essar Power (M P) Limited. (EPMPL)

·         Essar Power Gujarat Limited. (EPGL)

·         Essar Project Management Consultant Limited. (EPMCL)

·         Essar Projects (India) Limited. (EPIL)

·         Essar Shipping Limited (ESL)

·         Essar Paradeep Terminals Limited (EPTL)

·         Navabharat Power Private Limited (NPPL)

·         Peak Trading Overseas Limited (PTOL)

·         Vadinar Ports and Terminals Limited (VPTL)

·         Essar Steel Limited - Mauritius (ESTLM) (w.e.f. 29.06.2012)

 

 

Associates :

·         Bhander Power Limited (BPOL)

·         Essar Bulk Terminal Limited (EBTL)

·         Essar Power (Orissa) Limited (EPOL - Orissa)

·         Essar Power Hazira Limited (EPHL)

·         Essar Power Limited (EPOL)

·         Essar Steel Processing FZCO (ESP-FZCO)

 

 

Companies in which Promoters had significant influence/ Control :

·         Essar Steel Chhattisgarh Limited (ESCL)

·         Essar Steel Jharkhand Limited (ESJL)

·         Essar Teleholding Limited (ETHL)

·         Futura Travels Limited (FTL)

·         Global Supplies (UAE) FZE (GS)

·         Imperial Consultants and Securities Private Limited (ICSL)

·         India Securities Limited (ISL)

·         Kartik Estates Private Limited (KEPL)

·         Kroner Investment Limited (KIL)

·         NewAmbi Trading and Investments Private Limited (NATIPL)

·         Prajesh Investments Private Limited (PIPL)

·         Prajesh Marketing Limited (PML)

·         The Mobilestore Limited (TML)

·         Tirunelveli Wind Farms Limited (TWFL)

·         Essar Procurement Services Limited (EPSL)

·         Essar Properties Limited. (EPRL)

·         Essar Agrotech Limited (EAL)

·         Essar Education Limited (EEL)

·         Clickforsteel Services Limited (CFSL)

·         Downtown Securities Private Limited (DTSPL)

·         Bhargava Estates Private Limited (BEPL)

·         Essar House Limited (EHL)

·         Essar Information Technology Limited (EITL)

·         Essar Infrastructure Services Limited (EISL)

·         Essar Investments Limited. (EIL)

·         Ajitesh Estates Private Limited (AEPL)

·         Arkay Holdings Limited (AHL)

·         Arkay Sea Logistics Limited (ASLL)

·         Essar Services India Limited (ESIL)

·         Essar SEZ Hazira Limited (ESEZHL)

 

# These Companies ceased to be related party w.e.f. 01.04.2012 as the Promoters do not have any significant influence on the Company

 

 

CAPITAL STRUCTURE

 

As on 28.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7175000000

Equity Shares

Rs.10/- each

Rs.71750.000 Millions

100000000

10% Cumulative Redeemable Preference Shares

Rs.10/- each

Rs.1000.000 Millions

 

Total

 

Rs.72750.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2824951352

Equity Shares

Rs.10/- each

Rs.28249.514 Millions

43598951

10% Cumulative Redeemable Preference Shares

Rs.10/- each

Rs.435.989 Millions

 

Total

 

Rs.28685.503 Millions

 

 

As on 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7175000000

Equity Shares

Rs.10/- each

Rs.71750.000 Millions

100000000

10% Cumulative Redeemable Preference Shares

Rs.10/- each

Rs.1000.000 Millions

 

Total

 

Rs.72750.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2797534656

Equity Shares

Rs.10/- each

Rs.27975.300 Millions

43598951

10% Cumulative Redeemable Preference Shares

Rs.10/- each

Rs.436.000 Millions

4520703

Add: Equity Shares Forfeited

 

Rs.6.700 Millions

 

Total

 

Rs.28418.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

28418.000

26711.100

25710.000

(b) Reserves & Surplus

42617.100

63823.500

77329.800

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

2482.400

Total Shareholders’ Funds (1) + (2)

71035.100

90534.600

105522.200

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

228179.200

166645.400

145865.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

1622.900

1909.900

15806.000

(d) long-term provisions

6559.400

4581.400

1606.500

Total Non-current Liabilities (3)

236361.500

173136.700

163277.500

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

42871.000

76614.000

64158.100

(b) Trade payables

76458.300

43870.500

25564.900

(c) Other current liabilities

50425.000

39178.200

30857.200

(d) Short-term provisions

731.800

4258.700

1353.700

Total Current Liabilities (4)

170486.100

163921.400

121933.900

 

 

 

 

TOTAL

477882.700

427592.700

390733.600

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

287660.800

205879.400

102391.600

(ii) Intangible Assets

190.500

222.100

152.800

(iii) Capital work-in-progress

60047.700

112951.700

164749.300

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

10333.100

5398.700

3970.200

(c) Deferred tax assets (net)

17526.600

3237.700

638.700

(d)  Long-term Loan and Advances

6851.900

8777.200

12476.700

(e) Other Non-current assets

10333.100

9589.700

10247.800

Total Non-Current Assets

392943.700

346056.500

294627.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

38475.200

40446.400

52225.000

(c) Trade receivables

6812.700

5896.600

5147.600

(d) Cash and cash equivalents

6231.100

6509.600

9029.500

(e) Short-term loans and advances

28409.200

22502.900

26128.300

(f) Other current assets

5010.800

6180.700

3576.100

Total Current Assets

84939.000

81536.200

96106.500

 

 

 

 

TOTAL

477882.700

427592.700

390733.600

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

150384.500

162738.700

123015.000

 

 

Other Income

3011.600

5367.900

5659.300

 

 

TOTAL                                     (A)

153396.100

168106.600

128674.300

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

89941.100

89340.700

84497.100

 

 

Purchases of Stock-in-Trade

2055.900

1670.300

1752.800

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(270.700)

9692.700

(14955.000)

 

 

Employees benefits expense

3117.400

3899.800

3012.000

 

 

Other expenses

46918.300

47851.300

37218.700

 

 

Exceptional Items

13465.500

0.000

0.000

 

 

TOTAL                                     (B)

155227.500

152454.800

111525.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

(1831.400)

15651.800

17148.700

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

24809.800

18629.900

12009.100

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

(26641.200)

(2978.100)

5139.600

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

15622.100

9863.700

8914.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)           

(42263.300)

(12841.800)

(3775.000)

 

 

 

 

 

Less

TAX                                                                  (H)

(14413.900)

(326.200)

(2112.300)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX (G-H)                  (I)

(27849.400)

(12515.600)

(1662.700)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of Exports

36927.900

41557.500

20227.600

 

 

Others

2472.900

1872.600

1622.200

 

TOTAL EARNINGS

39400.800

43430.100

21849.800

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

33809.200

32993.200

8835.600

 

 

Production Consumables, Stores and Spares and Fuel

6540.200

9387.800

28469.100

 

 

Capital Goods

3315.500

3762.700

11199.600

 

 

Traded Goods

0.000

17.300

358.300

 

TOTAL IMPORTS

43664.900

46161.100

48862.600

 

 

 

 

 

 

Earnings Per Share (Rs.)

(10.59)

(4.84)

(0.72)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

(18.52)

(7.69)

(1.35)

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

(1.22)

9.62

(13.94)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(10.84)

(4.20)

(1.71)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.