MIRA
INFORM REPORT
|
Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE ODISHA MINING CORPORATION LIMITED (w.e.f.25.01.2012) |
|
|
|
|
Formerly Known
As : |
THE ORISSA MINING CORPORATION LIMITED |
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Registered
Office : |
Post Box No.-34, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.05.1956 |
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Com. Reg. No.: |
15-000313 |
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Capital
Investment / Paid-up Capital : |
Rs. 314.548 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U13100OR1956SGC000313 |
|
|
|
|
IEC No.: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN: |
AACC03324L |
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|
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
The company has considered Iron, Chrome and |
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|
|
|
No. of Employees
: |
3197(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
Payment Behaviour : |
Regular |
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Litigation : |
Exit |
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Comments : |
Subject is a well – established company having fine track record. The rating reflects company’s strong financial risk profile marked by
adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go slow
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 illfully 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
Not Available
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 (91-674-2377401)
LOCATIONS
|
Registered Office/Head Office : |
Post Box No.-34, Bhubaneswar – 751001, Orissa, India |
|
Tel. No.: |
91-674-2377400/2377401/2393431 |
|
Fax No.: |
91-674-2396889/2391629/2396882/2392662/2390972/2390431 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 23.09.2013
|
Name : |
Mr. Rajesh Verma |
|
Designation : |
Director |
|
Address : |
RTRS No. Type – B- 3/6, Unit – 1 X(F), Bhub aneshwar, Khurda – 751022,
|
|
Date of Birth/Age : |
01.09.1964 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
01725746 |
|
|
|
|
Name : |
Mr. Priyanath Dadhi |
|
Designation : |
Director |
|
Address : |
RTRS No. B-7, Nayapalli, Bhubaneshwar, Khurda – 751015, |
|
Date of Birth/Age : |
17.11.1953 |
|
Date of Appointment : |
08.08.2012 |
|
DIN No.: |
00637940 |
|
|
|
|
Name : |
Mr. Deepak Mohanty |
|
Designation : |
Director |
|
Address : |
RTRS No. -5 RF – 11 MG Marg, Unit – 111, Bhubanewshwar, Khurda – 751001,
Orissa, India |
|
Date of Birth/Age : |
15.03.1958 |
|
Date of Appointment : |
08.08.2012 |
|
DIN No.: |
02900037 |
|
|
|
|
Name : |
Mr. Bijay Kumar Rathi |
|
Designation : |
Director |
|
Address : |
Plot Ni. C- 66, Shakti Nagar Link Road, Cuttak - 753012, Orissa, India |
|
Date of Birth/Age : |
30.03.1956 |
|
Date of Appointment : |
08.08.2012 |
|
PAN No.: |
03603714 |
|
|
|
|
Name : |
Mr. Chitaranjan Das |
|
Designation : |
Director |
|
Address : |
Plot No – C – 91 Pallaspalli, BDA Duplex House, Bhubaneshwar, Khurda –
751020, Orissa, India |
|
Date of Birth/Age : |
14.11.1938 |
|
Date of Appointment : |
19.03.2002 |
|
DIN No.: |
00498996 |
|
|
|
|
Name : |
Mr. Dhirendra Kumar Roy |
|
Designation : |
Director |
|
Address : |
Plot No –N – 2/63, IRC Nayapalli, Bhubaneshwar, Khurd – 751015,
Orissa, India |
|
Date of Birth/Age : |
15.03.1940 |
|
Date of Appointment : |
23.06.2004 |
|
DIN No.: |
00420243 |
|
|
|
|
Name : |
Mrs. Satyananda Acharya |
|
Designation : |
Director |
|
Address : |
Plot No. 155, VIP Colony, Nayapalli, Bhubaneshwar, Khurd – 751015,
Orissa, India |
|
Date of Birth/Age : |
09.10.1934 |
|
Date of Appointment : |
23.06.2004 |
|
DIN No.: |
00146386 |
|
|
|
|
Name : |
Mr. Surendra Nath Dadhi |
|
Designation : |
Director |
|
Address : |
Plot No. A-8, Pallaspalli, Bhubaneshwar, Khurd – 751020, Orissa, India |
|
Date of Birth/Age : |
03.07.1940 |
|
Date of Appointment : |
11.06.2002 |
|
DIN No.: |
00062248 |
|
|
|
|
Name : |
Mr. Ghana Shyam Khuntia |
|
Designation : |
Director |
|
Address : |
Plot No-21B, Jayadurga Nagar, Bhubaneshwar, Khurd – 751006, Orissa,
India |
|
Date of Birth/Age : |
02.07.1939 |
|
Date of Appointment : |
30.05.2008 |
|
DIN No.: |
02241132 |
KEY EXECUTIVES
|
Name : |
Mr. Mohapatra Ranjan Sudhansu |
|
Designation : |
Secretary |
|
Address : |
Chidananda Bhawan, Madhusudan Nagar Tulsipur, Cuttak – 753008, Orissa,
India |
|
Date of Birth/Age : |
26.01.1963 |
|
Date of Appointment : |
30.03.2013 |
|
PAN: |
AAYPM6223D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hon’ble Sovernor of Odisha |
|
3145390 |
|
Verma Rajesh |
|
15 |
|
Mohapatra Kishore Jugal |
|
15 |
|
Mishra Saswati |
|
30 |
|
Panda Kumar Pramod |
|
15 |
|
Sahod C K. |
|
15 |
|
|
|
|
|
Total |
|
3145480 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Government[central
and state] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company has considered Iron, Chrome and Manganese Ore
as primary segment |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
3197(Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
SRB & Associates Chartered Accountant |
|
Address : |
5Th Floor, Idco Tower Janpath, Orissa, India |
|
PAN No.: |
AAXFS6281Q |
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Cost Auditors |
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|
Name: |
S. S. Sonthalia & Company |
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Joint Venture
Company: |
· East Coast Bauxite Mining Company Private Limited · Kalinga Coal Mining Private Limited · South West Orissa Bauxite Mining Private Limited |
|
|
|
|
Subsidiaries : |
· OMC Limited ·
Vedanta Alumina Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.100/- each |
Rs. 1000.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,145,480 |
Equity Shares |
Rs.100/-
each |
Rs. 314.548
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
314.548 |
314.548 |
314.548 |
|
(b) Reserves & Surplus |
58641.745 |
51498.214 |
51492.728 |
|
(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) |
58956.293 |
51812.762 |
51807.276 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
242.217 |
242.217 |
222.517 |
|
(d) long-term provisions |
410.859 |
432.837 |
421.766 |
|
Total Non-current Liabilities (3) |
653.076 |
675.054 |
644.283 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3705.647 |
3051.636 |
0.000 |
|
(b) Trade payables |
2455.485 |
6909.456 |
5087.167 |
|
(c) Other current
liabilities |
3147.676 |
3287.840 |
418.464 |
|
(d) Short-term provisions |
65.529 |
91.744 |
31.462 |
|
Total Current Liabilities (4) |
9374.337 |
13340.676 |
5537.093 |
|
|
|
|
|
|
TOTAL |
68983.706 |
65828.492 |
57988.652 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
703.089 |
715.557 |
736.126 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.004 |
|
(iii) Capital
work-in-progress |
365.960 |
302.941 |
216.234 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3743.589 |
1433.989 |
1403.990 |
|
(c) Deferred tax assets (net) |
36.294 |
55.708 |
49.695 |
|
(d) Long-term Loan and Advances |
4667.437 |
5118.917 |
89.602 |
|
(e) Other Non-current assets |
1299.955 |
245.469 |
9.943 |
|
Total Non-Current Assets |
10816.324 |
7872.581 |
2505.594 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2786.456 |
3331.626 |
3152.498 |
|
(c) Trade receivables |
97.317 |
76.626 |
142.213 |
|
(d) Cash and cash
equivalents |
40927.412 |
41224.374 |
45302.508 |
|
(e) Short-term loans and
advances |
11592.741 |
10554.090 |
4332.853 |
|
(f) Other current assets |
2763.456 |
2769.195 |
2552.986 |
|
Total Current Assets |
58167.382 |
57955.911 |
55483.058 |
|
|
|
|
|
|
TOTAL |
68983.706 |
65828.492 |
57988.652 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
18538.817 |
16581.457 |
21418.141 |
|
|
|
Other Income |
5809.992 |
5406.105 |
4620.003 |
|
|
|
TOTAL (A) |
24348.809 |
21987.562 |
26038.144 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
147.178 |
62.572 |
59.001 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
561.250 |
(178.379) |
(182.162) |
|
|
|
Employees benefits expense |
1587.124 |
1455.466 |
1335.429 |
|
|
|
Other expenses |
7290.410 |
6559.790 |
5867.979 |
|
|
|
TOTAL
(B) |
9585.962 |
7899.449 |
7080.247 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14762.847 |
14088.113 |
18957.897 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
157.842 |
132.112 |
41.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14605.005 |
13956.001 |
18916.858 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
105.471 |
121.416 |
110.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14499.534 |
13834.585 |
18805.864 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5821.381 |
4873.580 |
6112.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8678.153 |
8961.005 |
12693.853 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
32912.873 |
40596.472 |
34064.960 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1311.699 |
7688.301 |
2850.000 |
|
|
|
Dividend |
1311.699 |
7688.301 |
2850.000 |
|
|
|
Tax on Dividend |
222.923 |
1268.002 |
462.341 |
|
|
BALANCE CARRIED
TO THE B/S |
38744.705 |
32912.873 |
40596.472 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2759.31 |
2852.56 |
4035.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
46.81 |
54.04 |
59.27 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
79.63 |
84.96 |
88.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.36 |
21.60 |
33.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.27 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.06 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.20 |
4.34 |
10.02 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
314.548 |
314.548 |
314.548 |
|
Reserves & Surplus |
51492.728 |
51498.214 |
58641.745 |
|
Net worth |
51807.276 |
51812.762 |
58956.293 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
3051.636 |
3705.647 |
|
Total borrowings |
0.000 |
3051.636 |
3705.647 |
|
Debt/Equity ratio |
0.000 |
0.059 |
0.063 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from Operations |
21418.141 |
16581.457 |
18538.817 |
|
|
|
(22.582) |
11.805 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from Operations |
21418.141 |
16581.457 |
18538.817 |
|
Profit |
12693.853 |
8961.005 |
8678.153 |
|
|
59.27% |
54.04% |
46.81% |
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 |
(No) |
|
34] |
External Agency Rating, if available |
(Yes) |
Litigation
Details:
HIGH
COURT OF ORISSA
CASE
STATUS INFORMATION SYSTEM
Case Status
: Pending
|
Status of Appeals
under Indian Arbitration Act.(ARBA) 8
of 2014
BANSIDHAR GIRI
Vs. UNION
OF INDIA & ORS Pet's Adv.
: M/S.AMIT PR.BOSE
Res's Adv.
: Last Listed On
: No Date Mentioned Category : ARBITRATION
MATTER |
Case
Status As On: Tuesday, April 15, 2014
PROFITABILITY AND
RESERVE & SURPLUS HIGHLIGHTS:
The Company earned Profit Before Tax (PBT) of Rs. 14499.534 Millions (previous year Rs.13834.585 Millions) which is more by 4.81% and Profit After Tax (PAT) of Rs. 8678.153 Millions (previous year Rs.8961.005 Millions) which is less by 3.16% compared to its previous financial years performance. The Carry Forward Profit stood at Rs.38744.705 Millions at the end of financial year 2013-14 as against Rs. 32912.873 Millions at the end of the previous financial year 2012-13. The Reserve & Surplus position of the Company as on 31.03.2014 was Rs.58641.745 Millions (previous year Rs.51498.214 Millions)
PRODUCTION
HIGHLIGHTS:
The quantity of production of Iron Ore was 2438504 MT in FY 2013-14 and 2469926 MT in FY 2012-13 was decreased by 1.27% over Previous Financial Year. The quantity of production of Chrome ore 637039 MT in FY 2013-14 & 680490 MT in FY 2012-13 was decreased by 6.397% over Previous Financial Year. The quantity of production of Iron ore & Chrome ore have decreased by 2.38% over previous financial year (production quantity of Ore in FY 2013-14 was 3075543 MT & in FY 2012-13 was 3150416 MT). The quantity of production of Manganese ore, Lime stone & Gem stone has been nil (previous financial year Nil) during the current period.
SALES HIGHLIGHTS:
There has been increase in sales during the financial year 2013-14 in terms of value over previous financial year by 11.80% ( in FY 2013-14 Rs.18538.817 Millions & in FY 2012-13 Rs.16581.457 Millions) . The sale turnover of Chrome ore (in FY 2013-14 Rs.8464.544 Millions & in FY 2012-13 Rs.5460.478 Millions) has increased by 55.01% over comparing to previous financial year. Whereas the Sales turnover of Iron ore (in FY 2013-14 Rs.10074.273 Millions & in FY 2012-13 Rs.11120.979 Millions) has decreased by 9.41% over previous financial year. The quantity of sale of Chrome ore (in FY 2013-14 was 709261 MT & in FY 2012-13 was 476414 MT) increased by 48.87% over Previous Financial Year. The quantity of sale of Iron Ore (in FY 2013-14 was 3191483 MT & in FY 2012-13 was 2710304 MT) increased by 17.75% overPrevious financial Year. The quantity of sale of Iron ore & Chrome ore together have increased by 22.41% over previous financial year (Sales quantity of Ore in FY 2013-14 was 3900744 MT & in FY 2012-13 was 3186718 MT). The quantity of sale of Manganese ore lime stone & Gem stone has been nil (previous financial year Nil) during the current period.
OTHER INCOME
HIGHLIGHTS
Other Income of Rs.5809.991 Million (previous year Rs.5406.105 Millions) mainly consists of the following:
· Interest on fixed deposit of Rs. 4063.672 Millions (previous year of Rs. 4814.852 Millions).
· Interest Received from Income Tax Rs.120.072 Million (previous year Rs.242.841 Millions).
· Interest received from GRIDCO Rs.495.444 Million (previous year Rs.161.336 Millions).
· Write back of excess liability Rs.911.016 Million (previous year nil).
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90081396 |
22/03/2002 * |
136,836,601.00 |
Andhra Bank |
Bhobaneswar, Bhobaneswar, Orissa, India |
- |
|
2 |
90081974 |
19/07/2002 |
70,000,000.00 |
Union Bank of India |
Chandrasekharur, Bhobaneswar, Orissa, India |
- |
|
3 |
90081073 |
05/05/2001 |
136,836,601.00 |
Andhra Bank Limited |
Bhubaneswar, Bhubaneswar, Orissa, India |
- |
|
4 |
90080589 |
04/08/1969 |
6,000,000.00 |
Andhra Bank Limited |
Cuttack, Cuttack, Orissa, India |
- |
|
5 |
90080588 |
21/06/1969 |
1,000,000.00 |
Andhra Bank Limited |
Chowdhury Bazar, Cuttack, Orissa, India |
- |
|
6 |
90080587 |
03/06/1969 |
1,000,000.00 |
Andhra Bank Limited |
Cuttack, Cuttack, Orissa, India |
- |
|
7 |
90080586 |
18/04/1969 |
2,000,000.00 |
Andhra Bank Limited |
Cuttack, Cuttack, Orissa, India |
- |
|
8 |
90080584 |
14/02/1969 |
1,350,000.00 |
Andhra Bank Limited |
Cuttack, Cuttack, Orissa, India |
- |
|
9 |
90081503 |
04/02/1969 |
500,000.00 |
Andhra Bank Limited |
Cuttack, Cuttack, Orissa, India |
- |
|
10 |
90080583 |
17/01/1969 |
1,000,000.00 |
Andhra Bank Limited |
Cuttack, Cuttack, Orissa, India |
- |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
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 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.61.77 |
|
|
1 |
Rs.96.78 |
|
Euro |
1 |
Rs.76.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
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 |
|
72 |
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.