MIRA INFORM REPORT
|
Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ESSAR OIL LIMITED |
|
|
|
|
Registered
Office : |
Khambhalia, Post Box No - 24, District Jamnagar - 361 305, Gujarat |
|
|
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.09.1989 |
|
|
|
|
Com. Reg. No.: |
04-032116 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.14660.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L11100GJ1989PLC032116 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTE00150D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the business of refining and marketing
of petroleum products in domestic and overseas markets and also engaged in the
business of Exploration and Production. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 97000000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
|
|
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|
Litigation : |
Not Available |
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|
|
Comments : |
Subject is a subsidiary of ESSAR GLOBAL FUND LIMITED. It is an
established company having satisfactory track record. The company has recovered its accumulated losses and it has achieved some
profit during financial year 2014. Further company gets good financial and
managerial support from its parent company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong holding support, the company can be considered for
business dealing at usual trade terms and conditions. Note: As per the
status in the registrar of companies subject company appears to be listed
however, as claimed by Ms. Swati Saxena, Finance Manager that company shares
is delisted on 22ed June 2014.
|
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 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 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 = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
28.07.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
28.07.2014 |
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
31-03-2014.
INFORMATION DENIED
Management Non-Co-operative. (Tel No.91-2833-241444)
LOCATIONS
|
Registered Office / Factory 1 : |
Khambhalia Post,
Post Box No. 24, District Jamnagar – 361 305, Gujarat, India. |
|
Tel. No.: |
91-2833-241444 |
|
Fax No.: |
91-2833-662929 |
|
E-Mail : |
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|
Website : |
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|
Corporate
Office 1 : |
Essar House, P. O.
Box No. 7945, 11, Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400 034,
Maharashtra, India |
|
Tel. No.: |
91-22-24950606/66601100/ |
|
Fax No.: |
91-22-23544281/
23540450 |
|
E-Mail : |
|
|
Website: |
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|
Factory 2 : |
The company’s Oil
fields are located at Mehsana, Gujarat, India |
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|
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|
Corporate
Office 2 : |
Located at:
|
|
|
|
|
Overseas
Office : |
Located at:
|
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Prashant Ruia |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Naresh K.
Nayyar |
|
Designation : |
Deputy Chairman |
|
|
|
|
Name : |
Mr. Lalit Kumar
Gupta |
|
Designation : |
Managing Director
and Chief Executive Officer |
|
|
|
|
Name : |
Mr. Chakrapany
Manoharan |
|
Designation : |
Director
(Refinery) |
|
|
|
|
Name : |
Mr. Philip S.
Aiken |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dilip J.
Thakkar |
|
Designation : |
Director and
Independent Director |
|
|
|
|
Name : |
Mr. K. N.
Venkatasubramanian |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V.S. Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajiv Pal Singh |
|
Designation : |
Nominee of State Bank of India |
|
|
|
|
Name : |
Mr. Melwyn Rego |
|
Designation : |
Nominee of IDBI
Limited |
|
|
|
|
Name : |
Mr. Suneet Shukla |
|
Designation : |
Nominee of IFCI
Limited |
|
|
|
|
Name : |
Mr. R. Sudarsan |
|
Designation : |
Nominee of LIC of India |
KEY EXECUTIVES
|
Name : |
Mr. Sheikh S
Shaffi |
|
Designation : |
Company Secretary
|
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
6215026 |
1.25 |
|
|
6215026 |
1.25 |
|
|
|
|
|
|
354714647 |
71.22 |
|
|
354714647 |
71.22 |
|
Total shareholding of Promoter
and Promoter Group (A) |
360929673 |
72.47 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
10010800 |
2.01 |
|
|
11021932 |
2.21 |
|
|
20242027 |
4.06 |
|
|
41274759 |
8.29 |
|
|
|
|
|
|
32776940 |
6.58 |
|
|
|
|
|
|
53540233 |
10.75 |
|
|
7591049 |
1.52 |
|
|
1940392 |
0.39 |
|
|
1940392 |
0.39 |
|
|
95848614 |
19.24 |
|
Total Public shareholding (B) |
137123373 |
27.53 |
|
Total (A)+(B) |
498053046 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
951463854 |
0.00 |
|
|
0 |
0.00 |
|
|
951463854 |
0.00 |
|
Total (A)+(B)+(C) |
1449516900 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of refining and marketing
of petroleum products in domestic and overseas markets and also engaged in
the business of Exploration and Production. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered Accountants |
|
Address : |
Ahmadabad, Gujarat, India |
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|
|
|
Holding
Companies: (As on
31.03.2014) |
|
|
|
|
|
Subsidiaries: (As on
31.03.2014) |
|
|
|
|
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Associate: (As
on 31.03.2014) |
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|
|
|
|
Fellow Subsidiaries (As on
31.03.2014) |
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|
|
|
|
Companies in which promoters have significant
influence/control : (As on 31.03.2014) |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed Capital : Rs.14660.000
Millions
After 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000000 |
Equity Shares |
Rs.10/- each |
Rs.50000.000 Millions |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1449516900 |
Equity Shares |
Rs.10/- each |
Rs.14495.169 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000000 |
Equity Shares |
Rs.10/- each |
Rs.50000.000 Millions |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1427593086 |
Equity Shares |
Rs.10/- each |
Rs.14275.900 Millions |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1365667086 |
Equity Shares |
Rs.10/- each |
Rs.13656.700 Millions |
|
61926000 |
Add : Forfeited shares - Equity shares of Rs.10/- each |
|
Rs.166.000 Millions |
|
|
Total |
|
Rs.13822.700
Millions |
a)
Reconciliation of the
number of shares outstanding at the beginning and at the end of the reporting
period
|
Equity Shares |
No.
of Shares |
Rs.In
Millions |
|
Shares outstanding at the beginning of the year |
1365667086 |
13656.700 |
|
Add : Equity Shares issued during the year |
- |
- |
|
Shares outstanding at the end of the year |
1365667086 |
13656.700 |
b)
Terms / rights
attached to the equity Shares / Global depository shares (GDS)
The company has only
one class of equity shares having a par value of Rs.10 per share. Each holder
of equity share is entitled to one vote per share.
In the event of
liquidation of the company, the holders of equity shares will be entitled to
receive remaining assets of the company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
Holders of GDS
will be entitled to receive dividends, subject to the terms of the Deposit
Agreement, to the same extent as the holders of shares, less the fees and
expenses payable under such Deposit Agreement and any Indian tax applicable to
such dividends. Holders of GDS will not have voting rights with respect to the
Deposited Shares.
c)
Shares held by
holding / ultimate holding company and / or their subsidiaries / associates
|
Particulars |
No.
of Shares |
Rs.
In Millions |
|
4,761,000 GDS
(Previous year 4,761,000 GDS) held by Essar Oil and Gas Limited (formerly known
as Vadinar Oil), Mauritius, the holding Company pursuant to section 4(6) of
the Companies Act, 1956 |
728433000 |
7284.300 |
|
1,843,724 GDS
(Previous year 1,843,724 GDS) held by Essar Energy Holdings Limited, Mauritius,
subsidiary of the holding company |
282089772 |
2820.900 |
|
Equity shares
held by Essar Energy Holdings Limited, Mauritius, subsidiary of the holding
company |
178858624 |
1788.600 |
|
Equity Shares held
by Essar Power Hazira Holdings Limited (name changed from Hazira Steel 2),
subsidiary of ultimate holding company, Essar Global Fund Limited |
100 |
0.000* |
* Amount less than Rs.0.100 Million
d)
Stock Options
On December 2,
2011, the Company approved grant of 3211391 options (convertible at the option
of the eligible employees into equivalent number of equity shares of Rs.10/-
each of the Company, in three equal installments i.e. at the end of 3rd / 4th /
5th year from the grant date) to the eligible employees and Executive Directors
of the Company pursuant to Essar Oil Employee Stock Option Scheme 2011 approved
by the members at the 21st Annual General Meeting held on August 12, 2011. The
exercise period for the options is 7 years from the date of vesting.
These stock
options have been granted at an option value of Rs.69.05 per equity share of
face value of Rs.10/- each (i.e. the closing price of the equity shares of the
Company on December 01, 2011 at the National Stock Exchange of India Limited,
being the exchange having the higher quantity of trading of Company’s shares).
2,519,058 options
(Previous year 2,910,749) were outstanding as on March 31, 2013. The
Remuneration Committee of the Board of Directors has noted the forfeiture of
391,691 stock options on May 10, 2013.
e)
Details of
shareholders (including GDS holders) holding more than 5% shares in the Company
|
Particulars |
No.
of Shares |
%
of Shares |
|
4761000 held by Essar Oil and Gas Limited (formerly known as Vadinar Oil)
Mauritius, the holding Company pursuant to section 4(6) of the Companies Act,
1956 |
728433000 |
53.34 |
|
1,843,724 GDSs held by Essar Energy Holdings Limited, Mauritius,
subsidiary of the holding company. |
282089772 |
20.66 |
|
Equity shares held by Essar Energy Holdings Limited, Mauritius,
subsidiary of the Holding Company. |
178858624 |
13.10 |
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 |
14660.000 |
13822.700 |
13822.700 |
|
(b) Reserves & Surplus |
9650.000 |
(2754.400) |
7984.700 |
|
(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) |
24310.000 |
11068.300 |
21807.400 |
|
|
|
|
|
|
Foreign
Currency Compulsory Convertible Bonds |
0.000 |
13400.000 |
13400.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
142850.000 |
145387.300 |
122028.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2390.000 |
22160.700 |
47955.500 |
|
(d) long-term
provisions |
50.000 |
51.400 |
10.000 |
|
Total Non-current
Liabilities (3) |
145290.000 |
167599.400 |
169993.500 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
67570.000 |
78402.100 |
38183.700 |
|
(b) Trade
payables |
198150.000 |
113561.000 |
108100.400 |
|
(c) Other
current liabilities |
84890.000 |
91227.100 |
49124.900 |
|
(d) Short-term
provisions |
440.000 |
400.600 |
306.300 |
|
Total Current
Liabilities (4) |
351050.000 |
283590.800 |
195715.300 |
|
|
|
|
|
|
TOTAL |
520650.000 |
475658.500 |
400916.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
|
243720.000 |
212561.300 |
212999.000 |
|
(ii)
Intangible Assets |
|
180.200 |
200.200 |
|
(iii)
Capital work-in-progress |
|
26103.800 |
17604.700 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
1030.000 |
1030.000 |
1030.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9800.000 |
11381.400 |
4109.300 |
|
(e) Other
Non-current assets |
16600.000 |
13345.300 |
18096.400 |
|
Total Non-Current
Assets |
271150.000 |
264602.000 |
254039.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
4950.000 |
0.000 |
0.000 |
|
(b)
Inventories |
93100.000 |
105883.700 |
76816.700 |
|
(c) Trade
receivables |
71000.000 |
47164.900 |
39969.300 |
|
(d) Cash
and cash equivalents |
36320.000 |
24306.600 |
20609.400 |
|
(e)
Short-term loans and advances |
28150.000 |
12762.900 |
2280.200 |
|
(f) Other
current assets |
15980.000 |
20938.400 |
7201.000 |
|
Total
Current Assets |
249500.000 |
211056.500 |
146876.600 |
|
|
|
|
|
|
TOTAL |
520650.000 |
475658.500 |
400916.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
986020.000 |
885781.200 |
583366.300 |
|
|
|
Other Income |
8710.000 |
6087.800 |
4247.600 |
|
|
|
TOTAL |
994730.000 |
891869.000 |
587613.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
888240.000 |
813339.800 |
528948.500 |
|
|
|
Purchases of traded goods |
12760.000 |
8667.200 |
19571.600 |
|
|
|
Changes in inventory of finished goods and work-in-progress |
1480.000 |
(2368.800) |
(9881.000) |
|
|
|
Consumption of Fuel |
7560.000 |
0.000 |
0.000 |
|
|
|
Employee Benefits Expenses |
2250.000 |
1856.600 |
1345.600 |
|
|
|
Selling and Marketing Expenses |
6870.000 |
0.000 |
0.000 |
|
|
|
Other expenses |
16290.000 |
33867.400 |
26621.600 |
|
|
|
Foreign Exchange loss / (gain) |
12260.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
947710.000 |
855362.200 |
566606.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
47020.000 |
36506.800 |
21007.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
32180.000 |
34235.800 |
13868.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
14840.000 |
2271.000 |
7139.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
13550.000 |
12960.600 |
7619.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
EXCEPTIONAL ITEMS AND TAX |
1290.000 |
(10689.600) |
(480.200) |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
0.000 |
1114.800 |
12374.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
1290.000 |
(11804.400) |
(12854.800) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
1260.000 |
(11804.400) |
(12854.800) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(53452.600) |
(41648.200) |
(28793.400) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(53452.600) |
(41648.200) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
6.800 |
0.000 |
|
|
|
FOB value of exports |
|
306402.900 |
199153.300 |
|
|
|
Overseas trading of crude / Petroleum
products |
|
0.000 |
12555.100 |
|
|
|
On commodity hedging |
|
12520.100 |
3435.100 |
|
|
|
Income from technical services |
|
222.900 |
147.300 |
|
|
|
Income from sale of participating interest
in an E&P block |
|
0.000 |
0.000 |
|
|
|
Others |
|
65.300 |
72.00 |
|
|
TOTAL EARNINGS |
NA |
319218.000 |
215362.800 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
681393.600 |
473612.200 |
|
|
|
Stores & Spares |
|
4591.900 |
1128.100 |
|
|
|
Capital Goods |
|
1123.200 |
6624.600 |
|
|
TOTAL IMPORTS |
NA |
687108.700 |
481364.900 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
|
|
|
|
|
|
Basic |
0.90 |
(8.64) |
(9.41) |
|
|
|
Diluted |
0.87 |
(8.64) |
(9.41) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.13 |
(1.32)
|
(2.19)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.13 |
(1.33)
|
(2.20)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.25 |
(5.01)
|
(7.60)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
(1.06)
|
(0.59)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.66 |
20.22
|
7.35
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71 |
0.74
|
0.45
|
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 |
13822.700 |
13822.700 |
14660.000 |
|
Reserves & Surplus |
7984.700 |
-2754.400 |
9650.000 |
|
Net
worth |
21807.400 |
11068.300 |
24310.000 |
|
|
|
|
|
|
long-term borrowings |
122028.000 |
145387.300 |
142850.000 |
|
Short term borrowings |
122028.000 |
145387.300 |
67570.000 |
|
Total
borrowings |
244056.000 |
290774.600 |
210420.000 |
|
Debt/Equity
ratio |
11.191 |
26.271 |
8.656 |
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) |
|
Sales |
583366.300 |
885781.200 |
986020.000 |
|
|
|
51.840 |
11.316 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
583366.300 |
885781.200 |
986020.000 |
|
Profit |
(12854.800) |
(11804.400) |
1260.000 |
|
|
(2.20%) |
(1.33%) |
0.13% |
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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term
Borrowings |
|
|
|
Finance lease
obligation |
|
|
|
From related parties |
|
446.900 |
|
From others |
|
11.900 |
|
Other loans |
|
|
|
Conditional grant from a bank |
|
71.400 |
|
From related parties |
|
131.700 |
|
Total |
|
661.900 |
CORPORATE
INFORMATION:
The Company is a
public limited company domiciled in India and incorporated under the provisions
of the Companies Act, 1956. It is primarily engaged in the business of refining
and marketing of petroleum products in domestic and overseas markets. It is
also engaged in the business of Exploration and Production.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2014 |
|
1.
Income from operations |
|
|
a) Net sales/ Income from operation (net of excise duty) |
248110.000 |
|
b) Other operating income |
440.000 |
|
Total
income from Operations(net) |
248550.000 |
|
2.Expenditure |
|
|
a) Cost of raw materials consumed |
222980.000 |
|
b) Purchase of traded goods |
4050.000 |
|
c) (Increase) / Decrease in stock of finished goods and work-in-progress |
(220.000) |
|
d)
Consumption of fuel |
1620.000 |
|
e) Employee benefits expenses |
590.000 |
|
f) Selling and marketing expenses |
1530.000 |
|
g) Depreciation / Amortisation |
2420.000 |
|
h) Other expenses |
4100.000 |
|
Total expenses |
237070.000 |
|
3. Profit from operations before other income and
financial costs |
11480.000 |
|
4. Other income |
2320.000 |
|
5. Profit from ordinary activities before finance costs |
13800.000 |
|
6. Finance costs |
6470.000 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
7330.000 |
|
8. Foreign exchange loss / (gain) |
490.000 |
|
9. Exceptional
items |
-- |
|
10. Profit /
(Loss) from ordinary activities before tax |
6840.000 |
|
11.Tax expenses |
-- |
|
12.Net
Profit / (Loss) from ordinary activities after tax |
4840.000 |
|
13.Paid-up equity share capital (Nominal value Re. 1/- per share) |
14500.000 |
|
14. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
15. Earnings
per share before and after extraordinary items |
|
|
-Basic (Not Annualised)* |
4.72 |
|
- Diluted (Not Annualised) |
4.70 |
|
|
|
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
137123373 |
|
- Percentage of shareholding excluding depositary
share |
27.53% |
|
- Percentage of shareholding including depositary share |
9.46% |
|
2. Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
258222080 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
19.68% |
|
Percentage of shares (as a % of total share capital of the
company) |
17.81% |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
1054171447 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
80.32% |
|
Percentage of shares (as a % of total share capital of the
company) |
72.73% |
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
32 |
|
Disposed of during the quarter |
31 |
|
Remaining unreserved at the end of the quarter |
1 |
SEGMENT WIE REVENUE, RESULTS AND CAPITAL
EMPLOYED
(Rs. In Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
|
|
30.06.2014 |
|
1.
Segment Revenue |
|
|
Refining
including expansion and marketing |
249110.000 |
|
Exploration and production activities |
40.000 |
|
Unallocated |
100.000 |
|
Total |
249250.000 |
|
Less : Inter-segment revenue |
-- |
|
Total
Segment revenue |
249250.000 |
|
|
|
|
2. Segment Results Profit / (Loss) before
interest and tax |
|
|
Refining including expansion and marketing |
11390.000 |
|
Exploration and production activities |
(10.000) |
|
Unallocated |
(750.000) |
|
Total |
10630.000 |
|
Less:
Interest expenses |
5410.000 |
|
Add :
Interest income |
1620.000 |
|
Add :
Profit on sale of Investments |
0.000 |
|
Add : Credit balances written back |
0.000 |
|
Total Profit
/ (Loss) before Income tax |
6840.000 |
|
|
|
|
3. Capital employed (Segment assets - Segment
liabilities) |
|
|
Refining including expansion and marketing |
251230.000 |
|
Exploration and production activities |
32230.000 |
|
Unallocated |
3490.000 |
|
Total Capital employed |
286950.000 |
Notes:-
1. The above results have been reviewed by the Audit and Governance Committee and approved by the Board of Directors at their respective meetings held on August 12, 2014.
2. The company achieved a throughput of 5.14 MMT(Million Metric Tonnes) of
crude during the quarter. The throughput for various periods are as under:
Rs. In Millions
|
Particulars |
Quarter
Ended (
Unaudited) |
|
|
30.06.2014 |
|
|
|
|
Throughput
(in MMT) |
51.400 |
3. With effect from April 01, 2014, the Company has provided for depreciation on its refinery and other assets in accordance with Schedule II to the Companies Act 2013. The Company expects the useful lives of its assets to be higher than that prescribed under Schedule II and has initiated a separate assessment of the useful lives of its assets. Adjustment to the depreciation charge will be made in the coming quarters on completion of the assessment.
4. On August 06, 2014, the Company’s shareholders approved delisting of the
Company’s equity shares from stock exchanges.
5. During the quarter, the Company received Rs.8390.000 Millions (USD 139.80)
million from a Holding Company Essar Energy Holding Limited as advance towards
Global Depository Shares.
6. The shareholders of the Company, on May 06, 2014, have approved the
following acquisitions:
a. 10.25% cumulative Redeemable Preference shares of Essar Power Limited (EPoL)
of the face value of Rs.10250.000 Millions from Essar House Limited (EHL).
b. Equity and participating preference shares of Vadinar Power Company Limited
(VPCL), for an amount not exceeding f 2,100 crore from EPoL. The Company is in
the process of completing formalities for the acquisition of the shares.
7. Results for the previous quarter ended March 31, 2014 are the balancing
figures between the audited figures for the year ended March 31, 2014 and
corresponding published year to date figures upto third quarter ended December
31, 2013 which were subjected to Limited Review by Statutory Auditors.
8. The Company has not recognised Deferred Tax Assets (net) of Rs. 16870.000
Millions as on June 30, 2014 on unabsorbed depreciation / loss in view of the
concept of "Virtual Certainty Supported by Convincing Evidence" as
required under Accounting Standard (AS) 22 - Accounting for Taxes on Income.
9. Previous periods' figures have been regrouped / rearranged, wherever
considered necessary.
INDEX OF CHARGES:
|
Sr .No |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10433008 |
10/06/2013 |
5,400,000,000.00
|
IDBI TRUSTEESHIP
SERVICES LIMITED |
Asian Building,
Ground Floor, 17, R.Kamani Marg, Ballard Estate, Mumbai, Maharashtra -
400001, India |
B77947000
|
|
2 |
10423132 |
01/04/2013 * |
50,000,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg.,
Ground Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra -
400001, India |
B74604042
|
|
3 |
10420270 |
26/03/2013 |
14,893,725,000.00
|
IDBI Bank
Limited |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B73342115
|
|
4 |
10419333 |
20/03/2013 |
5,000,000,000.00
|
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra
- 400018, INDIA |
B73062960
|
|
5 |
10402887 |
31/01/2013 |
2,000,000,000.00
|
Central Bank of
India |
1st Floor, MMO
Building, Fort, Mumbai, Mumbai, Ma |
B68038629
|
|
6 |
10393843 |
06/12/2012 |
1,550,000,000.00
|
IDBI Bank
Limited |
IDBI TOWER WTC
COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B64825672
|
|
7 |
10374025 |
21/03/2013 * |
5,733,300,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg., Ground
Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
B73119083
|
|
8 |
10372403 |
31/07/2012 |
11,330,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg., Ground
Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
B56340177
|
|
9 |
10273767 |
30/07/2012 * |
10,000,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg., Ground
Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
B44704351
|
|
10 |
10267235 |
20/01/2011 |
5,000,000,000.00
|
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B05111711 |
|
11 |
10220168
|
15/03/2011
* |
42,000,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg.,
Ground Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra -
400001, India |
B10003192
|
|
12 |
10197118
|
06/01/2010
|
16,000,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg.,
Ground Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra -
400001, India |
A77489946
|
|
13 |
10176888
|
24/09/2009
|
6,000,000,000.00
|
IDBI
Bank Limited |
IDBI
Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
A70241781
|
|
14 |
10117341
|
25/11/2010
* |
20,000,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg., Ground
Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
B01631753
|
|
15 |
10114844
|
11/06/2008
|
20,000,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg., Ground
Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
A42864298
|
|
16 |
10108571
|
14/03/2008
|
4,250,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg., Ground
Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
A40755902
|
|
17 |
10108573
|
14/03/2008
|
4,250,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg., Ground
Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
A40756892
|
|
18 |
10078490
|
26/10/2007
|
4,590,000,000.00
|
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
A28514198
|
|
19 |
10101924
|
26/10/2007
|
187,400,000.00
|
UNITED
INDIA INSURANCE CO LIMITED(01.01.73) |
24,
WHITE ROAD, P.B.NO.676,MADRAS-14., MADRAS-14., Tamil Nadu - 600014, INDIA |
A34140442
|
|
20 |
10058990
|
07/05/2013
* |
150,150,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg.,
Ground Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra -
400001, India |
B75789222
|
|
21 |
10042313
|
15/02/2007
|
2,390,000,000.00
|
Punjab
National Bank |
1st Floor,
Raheja Chambers, Free Press Marg, Nariman Point, Mumbai, Maharashtra -
400021, INDIA |
A12555579
|
|
22 |
10042330
|
15/02/2007
|
1,500,000,000.00
|
Indian
Bank |
Mittal
Tower, B - Wing, GF 210, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
A12596672
|
|
23 |
10043193
|
15/02/2007
|
500,000,000.00
|
Oriental
Bank of Commerce |
Corporate
Group Finance Branch, 18th Floor, Maker Tower 'E', Cuffe Parade, Mumbai,
Maharashtra - 400005, INDIA |
A12239208
|
|
24 |
10046037
|
15/02/2007
|
2,000,000,000.00
|
Bank
of Baroda |
Corporate
Finance Services Branch, 1st floor, Bank of Baroda Bldg, Ballard Pier,
Mumbai, Maharashtra - 400001, INDIA |
A13213434
|
|
25 |
10029557
|
21/12/2006
|
800,000,000.00
|
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON
HOUSE 169 BACKBAY RECLAMATION, HT PAREKH MARG, MUMBAI, Maharashtra - 400020,
INDIA |
A08375420
|
|
26 |
10021874
|
25/09/2006
|
4,000,000,000.00
|
Housing
and Urban Development Corpn Limited |
Hudco
Bhawan, India, Habitat Center,, Lodhi Road, New Delhi, Delhi - 110003, India |
A05552021
|
|
27 |
10022317
|
25/09/2006
|
1,500,000,000.00
|
ORIENTAL
BANK OF COMMERCE LIMITED |
E-Block,
Harsha Bhavan, Connaught Place, New Delhi, Delhi - 110001, INDIA |
A05722830
|
|
28 |
10023083
|
18/07/2013
* |
20,518,500,000.00
|
IDBI
TRUSTEESHIP SERVICES LIMITED |
Asian
Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate,, MUMBAI, Maharashtra
- 400001, INDIA |
B80457096
|
|
29 |
10023320
|
25/09/2006
|
2,000,000,000.00
|
INDIAN
OVERSEAS BANK |
Veer
Nariman Road, Fort, Mumbai, Maharashtra - 400023, INDIA |
A05939236
|
|
30 |
10023738
|
25/09/2006
|
2,000,000,000.00
|
Syndicate
Bank |
Industrial
Finance Branch, Finance Branch, 3rd floor, 10, Homji Street, Mumbai,
Maharashtra - 400023, INDIA |
A06053326
|
|
31 |
90103891
|
29/05/2006
* |
846,600,000.00
|
CENTRAL
BANK OF INDIA |
Corporate
Finance Branch, 1st Floor, Mumbai Main Office, Fort, Mumbai, Maharashtra -
400023, India |
- |
|
32 |
90103376
|
18/01/2005
* |
2,000,000,000.00
|
Industrial
Devlopment Bank of India Limited |
IDBI
Tower; Cuffe Parade, Mumbai, Maharashtra - 400005, India |
- |
|
33 |
90103888
|
18/01/2005
* |
3,261,100,000.00
|
Life
Indsurance Corportion of India |
Jeevan
Bima Marg, Mumbai, Maharashtra - 400021, India |
- |
|
34 |
80003137
|
18/01/2005
|
12,576,600,000.00
|
ICICI
BANK LIMITED |
BKC,
Mumbai, Maharashtra - 400051, India |
- |
|
35 |
80003138
|
18/01/2005
|
804,300,000.00
|
IFCI
LIMITED |
Nehru
Place, New Delhi, Delhi - 110019, India |
- |
|
36 |
80003139
|
18/01/2005
|
7,694,300,000.00
|
IDBI
BANK LIMITED |
Cuff
Parade, Mumbai, Maharashtra - 400005, India |
- |
|
37 |
80003140
|
18/01/2005
|
1,207,000,000.00
|
IDBI |
CUFFE
PARADE, MUMBAI, Maharashtra - 400020, INDIA |
- |
|
38 |
80003141
|
18/01/2005
|
254,100,000.00
|
GIC |
Churchgate,
Mumbai, Maharashtra - 400020, India |
- |
|
39 |
80003142
|
18/01/2005
|
266,000,000.00
|
NEW
INDIA ASSURANCE CO LIMITED |
M G
Road, Mumbai, Maharashtra - 400023, India |
- |
|
40 |
80003143
|
18/01/2005
|
153,900,000.00
|
NATIONAL
INS CO LIMITED |
Middleton
St, Kolkata, West Bengal - 700001, India |
- |
|
41 |
80003144
|
18/01/2005
|
158,400,000.00
|
THE
ORIENTAL INS CO LIMITED |
ASAF
ALI ROAD, NEW DELHI, Delhi - 110002, INDIA |
- |
|
42 |
80003145
|
07/05/2013
* |
68,714,100,000.00
|
IDBI
TRUSTEESHIP SERVICES LIMITED |
Asian
Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra
- 400001, India |
B76378769
|
|
43 |
90103373
|
13/12/2004
* |
22,473,000,000.00
|
IDBI
TRUSTEESHIP SERVICES LIMITED |
10th
Floor Nariman Bhavan; 227 Vinay K Shah Marg, Nariman Point, Mumbai,
Maharashtra - 400021, India |
- |
|
44 |
90103881
|
18/01/2005
* |
490,000,000.00
|
LIFE
INDSURANCE CORPORTION OF INDIA |
Jeevan
Bima Marg, Mumbai, Maharashtra - 400021, India |
- |
|
45 |
90103242
|
18/01/2005
* |
2,460,000,000.00
|
LIFE
INSURANCE CORPORTION OF INDIA |
Yagakshema
; Jeevan Bima Marg, Mumbai, Maharashtra - 400021, India |
- |
|
46 |
80003135
|
31/03/2001
|
8,570,000,000.00
|
ICICI
LIMITED |
Bkc,
Mumbai, Maharashtra - 400051, India |
- |
|
47 |
90103235
|
29/05/2006
* |
56,500,000.00
|
CENTRAL
BANK OF INDIA |
Corporate
Finance Branch, 1st Floor,, Mumbai Main Office, Fort, Mumbai, Maharashtra - 400023,
India |
- |
|
48 |
90103198
|
18/01/2005
* |
70,000,000.00
|
BANK
OF MAHARASHTRA |
Lokmangal
; 1501 Shivajinagar, Pune, Maharashtra - 411005, India |
- |
|
49 |
90103197
|
18/01/2005
* |
2,400,000,000.00
|
IFCI
LIMITED |
IFCI
Tower; 61; Nehru Place, New Delhi, Delhi - 110019, India |
- |
|
50 |
80003134
|
31/12/1999
|
70,000,000.00
|
ICICI
Limited |
BKC,
Mumbai, Maharashtra - 400051, India |
- |
|
51 |
80003133
|
31/03/1999
|
5,860,000,000.00
|
ICICI
Limited |
BKC,
Mumbai, Maharashtra - 400051, India |
- |
|
52 |
90102807
|
29/05/2006
* |
250,000,000.00
|
CENTRAL
BANK OF INDIA |
Corporate
Finance Branch, 1st Floor,, Mumbai Main |
- |
|
53 |
90103477
|
09/08/2005
* |
250,000,000.00
|
CENTRAL
BANK OF INDIA |
Corporate
Finance Branch, Mumbai, Maharashtra - 400023, India |
- |
|
54 |
80003131
|
26/02/1998
|
1,485,000,000.00
|
PNB |
Nariman
Point, Mumbai, Maharashtra - 400021, India |
- |
|
55 |
80003130
|
10/02/1998
|
500,000,000.00
|
CENTRAL
BANK OF INDIA |
Fort,
Mumbai, Maharashtra - 400023, India |
- |
|
56 |
90103111
|
26/09/2005
* |
2,128,260,000.00
|
Industrial
Credit and Investment Corportion of India |
163;
Backbay Reclamation, Bombay, Maharashtra - 400020, India |
- |
|
57 |
90103108
|
18/01/2005
* |
1,850,000,000.00
|
Industrial
Credit and Investment Corportion of India |
IFCI
TOWER;61 NEHRU PLACE, NEW DELHI, Delhi - 1100 19, INDIA |
- |
|
58 |
90103103
|
18/01/2005
* |
2,175,000,000.00
|
INDUSTRIAL
DEVLOPMENT BANK OF INDIA LIMITED |
IDBI
Tower; Cuffe Parade, Mumbai, Maharashtra - 40 0005, India |
- |
|
59 |
90103098
|
18/01/2005
* |
1,000,000,000.00
|
INDUSTRIAL
DEVLOPMENT BANK OF INDIA |
IDBI
Tower; Cuffe Parade, Mumbai, Maharashtra - 400005, India |
- |
|
60 |
90103096
|
18/01/2005
* |
600,000,000.00
|
IFCI
LIMITED |
IFCI
Tower; 61; Nehru Place, New Delhi, Delhi - 11 0019, India |
- |
|
61 |
90103094
|
09/08/2005
* |
700,000,000.00
|
ALLAHABAD
BANK |
Industrial
Finance Branch, Apeejay House, Mumbai, |
- |
|
62 |
90103063
|
18/01/2005
* |
500,000,000.00
|
National
Insurance Corportion pf India |
3; Middleton
Street, Kolkata, West Bengal - 700001, India |
- |
|
63 |
90102791
|
28/12/2004
* |
2,000,000,000.00
|
Life
Insurance Corportion of India |
Jeevan
Bima Marg, Mumbai, Maharashtra - 400021, India |
- |
|
64 |
90103049
|
18/01/2005
* |
2,000,000,000.00
|
Life
Insurance Corportion of India |
Jeevan
Bima Marg, Mumbai, Maharashtra - 400021, India |
- |
|
65 |
90103046
|
18/01/2005
* |
750,000,000.00
|
Industrial
Credit and Investment Corportion of India |
IFCI
Tower;61 Nehru Place, New Delhi, Delhi - 110019, India |
- |
|
67 |
90102789
|
18/01/2005
* |
200,000,000.00
|
Industrial
Credit and Investment Corportion of India |
163;
Backway Reclation, Mumbai, Maharashtra - 4000 20, India |
- |
|
68 |
90103041
|
26/09/2005
* |
500,000,000.00
|
Industrial
Credit and Investment Corportion of India |
163;
Backway Reclation, Mumbai, Maharashtra - 4000 20, India |
- |
|
69 |
90103038
|
26/09/2005
* |
2,500,000,000.00
|
Industrial
Credit and Investment Corportion of India |
163;
Backway Reclation, Mumbai, Maharashtra - 4000 20, India |
- |
|
70 |
90103012
|
17/04/2007
* |
500,000,000.00
|
General
Insurance Corporation of India |
Suraksha170
J Tata Road, Churchgate, Mumbai, Maharashtra - 400020, India |
- |
|
71 |
80003116
|
30/06/2010
* |
5,682,000,000.00
|
IDBI Trusteeship
Services Limited |
Asian Bldg.,
Ground Floor, 17, R. Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001,
India |
A90058231
|
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and machinery
- Producing properties
- Furniture and fixtures
- Office equipment
- Vehicles
- Aircraft
- Software and licenses
AS PER WEBSITE
PRESS RELEASE
ESSAR OIL FIXES
DELISTING FLOOR PRICE AT RS.108.15
MUMBAI, JUNE 26: Shares of Essar Oi jumped 5 per cent on Thursday to hit the upper circuit after the company fixed the floor price of 108.15 for the proposed voluntary delisting of shares. The stock ended at 112 on the BSE.
Essar Oil board, on Sunday, had approved delisting of shares from the BSE and NSE. Essar Energy Holdings (EEHL), promoter of the company, wants to buy back from the public about 13.7 crore shares or 27.5 per cent, of the paid-up capital of the company.
Essar Oil board, on Sunday, had approved delisting of shares from the BSE and NSE. Essar Energy Holdings (EEHL), promoter of the company, wants to buy back from the public about 13.7 crore shares or 27.5 per cent, of the paid-up capital of the company.
Bombay Stock Exchange
Limited
Department of
Corporate Services
Phiroze Jeejeebhoy
Towers, Dalal Street
Mumbai - 400001
(Stock code - 500134)
National Stock
Exchange of India Limited
Exchange Plaza, Plot
no. C/1, G. Block
Bandra-Kurla Complex,
Bandra (East)
Mumbai - 400051
(Stock code - ESSAROIL)
Sub: Outcome of the Meeting of the Board of Directors of Essar Oil Limited. held on June 22, 2014 and the intimation of proposed voluntary delisting of the equity shares (''Equity Shares") of the Company.
We refer to our letters dated June 20, 2014 and June 21, 2014 regarding the scheduling of a meeting of the Board on June 22, 2014 to consider the delisting proposal received from Essar Energy Holdings Limited ("EEHL). The letter was provided after the Company received a letter dated June 20, 2014 from EEHL informing the Board of the proposal of EEHL to voluntarily delist the Equity Shares of the Company currently listed on the BSE and NSE in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 ('SEBI Delisting Regulations") by purchasing the 13,71,23,373 Equity Shares of the Company constituting 27.53% of the Company's Equity Shares held by the public shareholders of the Company who are shareholders other than: (a) Promoter company and other promoter group entities being Imperial Consultants and Services Private Limited and Essar Power Hazira Holdings Limited; and (b) the Bank of New York Mellon ( "Depository"), which holds Equity Shares of the Company against which it has issued global depository shares ("GDS) ("Delisting Proposal").
In view of the above, the Board at its meeting on June 22, 2014 has approved the following:
1) To take on record the aforementioned letter received from EEHL with respect to the Delisting Proposal;
2) To consent to the Delisting Proposal pursuant to and in accordance with Regulation 8(l) (a) of SEBI Delisting Regulations; and
3) To seek the consent of the shareholders of the Company
for the Delisting Proposal by way of postal ballot and e-voting in accordance
with the provisions of section 110 of the companies Act, 2013, the applicable
rules of the companies (Management and Administration) Rules, 2014 relating to
passing of resolutions by postal ballot, Clause 35B of the equity listing
agreement entered into by the Company with the BSE and the NSE and the SEBl
Delisting Regulations.
This letter serves as a notice in terms of Clause 22 and Clause 36 of the Listing Agreement.
Please note that the
trading window was closed for the purpose on June 20, 2014 after receipt of
delisting proposal from EEHL.
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.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
-- |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.