MIRA
INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAYASWAL NECO INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
JAYASWAL NECO LIMITED |
|
|
|
|
Registered
Office : |
F - 8, M.I.D.C. Industrial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.11.1972 |
|
|
|
|
Com. Reg. No.: |
11-016154 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 6386.331 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28920MH1972PLC016154 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPJ00957F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ3174F |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Centrifugal Cast iron Pipe
and Fitting, Centrifugal Cast Iron Hubless Pipe and Fitting, Sand Cast Iron
Pipe and Fitting, Cast Iron and Ductile Iron Manhole Covers, Frames and
Gratings. |
|
|
|
|
No. of Employees
: |
19000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 84955000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered normal for 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) |
|
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 |
ICRA |
|
Rating |
Term Loan = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk |
|
Date |
September 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Facilities = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
September 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 PARTED BY
|
Name : |
Mr. S. A. Niyudkar |
|
Designation : |
Vice President |
|
Contact No.: |
91-7104-237276 |
|
Date : |
08.10.2014 |
LOCATIONS
|
Registered Office : |
F - 8, M.I.D.C. Industrial Area, Hingna Road, Nagpur – 440016,
Maharashtra, India |
|
Tel. No.: |
91-7104-237276 / 237472 |
|
Fax No.: |
91-7104-237583 / 236255 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Steel Plant Division: ·
Siltara Growth Centre, Raipur, District
Raipur-493221, Chhattisgarh, India Tel. No.: 91-771-3098927 ·
Gare Palma IV/4 and IV/8 Coal Block, Mand Raigarh
Coal Field, Raigarh, Chhattisgarh, India Centricast Division: ·
MIDC Area, Hingna Road, Nagpur, Maharashtra,
India Automotive Castings Division: ·
MIDC Area, Hingna Road and Butibori, Nagpur,
Maharashtra, India Construction Castings Division: ·
Light Industrial Area, Bhilai and Anjora, ,
Chhattisgarh, India Castings Divisions: ·
Plot No. F-8 and F-8/1, MIDC Industrial Area,
Nagpur, Maharashtra, India ·
Plot No. T-41/42, MIDC Industrial Area, Nagpur,
Maharashtra, India ·
Village Ruikhairi, Wardha Road, Butibori, Nagpur,
Maharashtra, India ·
105, Light Industrial Area, Bhilai, District
Durg, Chhattisgarh, India ·
Thanod Road, Anjora, District Rajnandgaon,
Chhattisgarh, India |
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Arbind Jayaswal |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Basant Lall Shaw |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
03.08.1933 |
|
Qualification : |
B.Com |
|
Experience : |
Associated with
Iron and Steel business for over 52 years. Instrumental in setting up 1 MTPA
Integrated Steel Plant in Raipur and other units in the Group in India and Abroad.
Founder and Chairman of Neco Group of Industries |
|
Date of Appointment : |
28.11.1972 |
|
|
|
|
Name : |
Mr. B K Agrawal |
|
Designation : |
Director |
|
Date of Birth/Age : |
28.01.1949 |
|
Qualification : |
M. Com. FCA |
|
Experience : |
Practicing Chartered Accountant for over 36 years. Possesses sound knowledge of Accounting, Auditing, Taxation and Corporate Advisory |
|
Date of Appointment : |
10.08.1994 |
|
|
|
|
Name : |
Mr. M M Vyas |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.10.1942 |
|
Qualification : |
B.Sc. |
|
Experience : |
Experience in administration, Export Marketing & Liasoning with Govt. Agencies, Institutions and Banks for over 34 yrs. Associated with Business in Iron and Steel Casting and fittings over 23 yrs. |
|
Date of Appointment : |
26.02.1998 |
|
|
|
|
Name : |
Mr. P K Bhardwaj |
|
Designation : |
Executive Director and CFO |
|
|
|
|
Name : |
Mr. Nirmit Ved |
|
Designation : |
Director (Exim Bank Nominee) |
|
|
|
|
Name : |
Mr. S K Sachdev |
|
Designation : |
Director (IDBI Bank Nominee) |
|
|
|
|
Name : |
Mr. Ramesh Jayaswal |
|
Designation : |
Joint Managing Director |
|
Date of Birth/Age : |
02.02.1960 |
|
Qualification : |
B.Com |
|
Experience : |
Associated with Iron
and Steel business for over 24 years. Looks after the implementation of new
projects and other allied matters. |
|
Date of Appointment : |
05.03.1983 |
KEY EXECUTIVES
|
Name : |
Mr. A D Karajgaonkar |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Pramod Shinde |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. S. A. Niyudkar |
|
Designation : |
Vice President |
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
15158690 |
2.53 |
|
|
396744151 |
66.28 |
|
|
411902841 |
68.81 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
411902841 |
68.81 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
14306435 |
2.39 |
|
|
4086 |
0.00 |
|
|
4062 |
0.00 |
|
|
334953 |
0.06 |
|
|
194798 |
0.03 |
|
|
14844334 |
2.48 |
|
|
|
|
|
|
113076444 |
18.89 |
|
|
|
|
|
|
22238376 |
3.71 |
|
|
34327411 |
5.73 |
|
|
2243657 |
0.37 |
|
|
571658 |
0.10 |
|
|
1671999 |
0.28 |
|
|
171885888 |
28.71 |
|
Total
Public shareholding (B) |
186730222 |
31.19 |
|
Total
(A)+(B) |
598633063 |
100.00 |
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
598633063 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Centrifugal Cast iron Pipe and Fitting, Centrifugal Cast Iron Hubless Pipe and Fitting, Sand Cast Iron Pipe and Fitting, Cast Iron and Ductile Iron Manhole Covers, Frames and Gratings. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Middle East ·
Europe ·
Italy |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment, L/C, Cheque and Credit |
|
|
|
|
Purchasing : |
Advance Payment, L/C, Cheque and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users, OEM’s and Others |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
19000 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India · Punjab National Bank · Union Bank of India · State Bank of Travancore · Oriental Bank of Commerce · ICICI Bank Limited · IDBI Bank Limited · State Bank of Bikaner and Jaipur ·
Central Bank of India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Notes: · The term loans from banks, financial institutions and others referred to above aggregating to Rs.14028.741 Millions and Rs.1766.989 Millions included in Current Maturities of Long Term Debts in Note No. 10 are guaranteed by some of the Directors in their personal capacities. · Term loans from Banks and Financial Institution referred to above aggregating to Rs.13393.710 Millions and Rs.1766.989 Millions included in Current Maturities of Long Term Debts in Note No. 10 are secured by way of : a. First Charge on the moveable and immoveable fixed assets of the company, both present and future on pari- passu basis with other participating Financial Institution/ Banks except the moveable and immoveable fixed assets at Moitra Coking Coal Block Including Washery at North Karanpura Coalfields near Hazaribagh in Jharkhand. b. First Ranking Charge on all titles and interest of the borrower in respect of all project documents / contracts / licences including insurance contracts and rights except mining rights pertaining to the assets of the borrower on pari-passu basis with other perticipating Financial Institutions/ Banks. c. Charge on all the current assets of the company including raw materials, finished goods, stock-in-process, trade receivable, both present and future on pari-passu basis with other participating Financial Institutions/ Banks amongst them ranking next to the charge in favour of bankers to secure their working capital loans. · Term loans from banks refer to above aggregating to Rs.635.031 Millions are secured by way of first charge on whole of the moveable and immoveable properties, except Book Debts, Store and Spares and Stocks, both present and future relating to coking coal mines project including washery at Moitra coking coal block at North Karanpura Coalfields near Hazaribagh in Jharkhand (the project) and charge on Current Assets of the Company on pari-passu basis amongst banks funding the project ranking next to the charge in favour of bankers to secure their working capital loans. · Term Loans of Rs.11.833 Millions and Rs.11.028 Millions included in current maturities of long term debt are secured by way of hypothecation of the specific Equipments/ Vehicles financed. · Term Loans from Banks and Financial Institutions referred to above and Rs.1778.017 Millions included in current maturities of long term debt in Note No.10 are to be repaid as under : Rs.283.333 Millions is repayable in 24 equal monthly instalments of Rs.11.806 Millions each, ending on March, 2015. Rs.540.833 Millions is repayable in 24 equal monthly instalments of Rs.22.535 Millions each, ending on March, 2015. Rs.127.500 Millions is repayable in 24 equal monthly instalments of Rs.5.313 Millions each, commencing from April, 2015 and ending on March, 2017. Rs.413.709 Millions is repayable in 30 equal monthly instalments of Rs.13.890 Millions each, ending on September, 2015. Rs.79.861 Millions is repayable in 24 equal monthly instalments of Rs.3.472 Millions each, ending on March, 2015. Rs.31.348 Millions is repayable in 10 equal quarterly instalments of Rs.3.088 Millions each, ending on September, 2015. Rs.328.125 Millions is repayable in 7 equal quarterly instalments of Rs.46.875 Millions each, ending on October, 2014. Rs.50.000 Millions is repayable in 12 equal monthly instalments of Rs.4.167 Millions each, ending on March, 2014. Rs.750.000 Millions is repayable in 15 equal quarterly instalments of Rs.50.000 Millions each, ending on October, 2016. Rs.1120.000 Millions is repayable in 48 structured monthly instalments, ending on March, 2017. Rs.236.775 Millions is repayable in 12 structured monthly instalments, ending on March, 2014. Rs.183.333 Millions is repayable in 40 equal monthly instalments of Rs.4.583 Millions each, commencing from August, and ending on July, 2016. Rs.826.423 Millions is repayable in 26 equal quarterly instalments of Rs.31.812 Millions each, commencing from January, and ending on October, 2019. Rs.635.031 Millions is repayable in 48 equal monthly instalments of Rs.13.230 Millions each, commencing from July, 2014 and ending on June, 2018. Rs.1392.096 Millions is repayable in 22 quarterly instalments of Rs.63.277 Millions each, commencing from December 2015 and ending in March 2021. Rs.7141.276 Millions is repayable in 78 equal monthly instalments of Rs. 91.555 Millions each, commencing from September, 2014 and ending on February, 2021. Rs.656.085 Millions is repayable in 22 equal quarterly instalments of Rs. 29.822 Millions each, Commencing from November 2015 and ending in Feb 2021. Rs.1000.000 Millions is repayable in 48 equal monthly instalments of Rs.20.833 Millions each. Commencing from July 2013 and ending in June 2017. Vehicle Loans included in Term Loans above are repayable in 36 to 60 monthly equal instalments (including interest) as per repayment schedule. Term Loans from Others referred to above are repayable in 24 to 36 monthly equal instalments (including interest) as per repayment schedule. Maturity Profile of
Term Loans is as under (Rs. in Millions)
The Minimum Lease Rentals
outstanding as on 31st March, 2013 in respect of a plant having the Gross
Liability of Rs.232.493 Millions (Previous Year Rs.232.493 Millions) taken on
financial lease is as follows :
General description
of Lease terms : (i) Lease Rentals are charged on the basis of agreed terms. (ii) Assets are taken on lease for a period of 5 to 10 years. The Company is entitled to defer its liability to pay Sales Tax (including a portion of Purchase Tax) in respect of its certain units. The liability under the Schemes as on 31st March, 2013 is Rs.736.103 Millions (Previous Year: Rs.615.051 Millions) which is provided for on the basis of its Net Present Value of Rs.338.576 Millions (Previous Year: Rs.274.486 Millions). This Sales-tax liability is repayable in five equal annual instalments starting at the end of the tenth year from the year to which it relates. Working Capital Loans from Banks are secured/to be secured by the hypothecation of whole of movable properties including Stocks and Book Debts, both present and future, and by second charge on immovable properties of the Company, excluding the moveable and immoveable fixed assets at Moitra Coking Coal Block Including Washery at North Karanpura Coalfields near Hazaribagh in Jharkhand, ranking next to the mortgage charge of Financial Institutions and Banks for securing their Term Loans. The Working Capital Loans from banks are guaranteed by
some of the Directors in their personal capacities. |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Auditors 1 : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Agrawal Chhallani and Company Chartered Accountants |
|
Address : |
Nagpur, Maharashtra, India |
|
|
|
|
As on 31.03.2013 |
|
|
|
|
|
Subsidiary: |
·
Jayaswal Neco Urja Limited |
|
|
|
|
Associate Companies: |
·
Maa Usha Urja Limited |
|
|
|
|
Other Related Parties: |
·
Abhijeet Infrastructure Limited ·
AMR Iron and Steel Private Limited ·
Neco Heavy Engineering and Castings Limited ·
Neco Mining Company Limited ·
Neco Ceramics Limited Steel and Tube Exports
Limited ·
NSSL Limited Corporate Ispat Alloys Limited ·
North Karnapura Coal Company Limited ·
Jayaswal Neco Power Holding Company Limited ·
Deify Infrastructures Limited ·
Jayaswal Holdings Private Limited ·
Jayaswal Neco Metallics Private Limited ·
Anurag Sales and Services Private Limited ·
Apex Spinning Mills Private Limited ·
Karamveer Impex Private Limited ·
Avon Sales and Services Private Limited ·
Nine Star Plastic Packing Service Private Limited ·
Jyotikant Investments Private Limited ·
Vibrant Electronics Limited ·
Jayaswal Neco Infrastructures Private Limited ·
Jayaswal Neco Energy Private Limited ·
Jayaswal Neco Steel and Mining Limited ·
Jayaswal Neco Power Private Limited ·
Parivar Food Industries Private Limited ·
Terra Infra Development Limited ·
Abhijeet Ferrotech Limited ·
Nagpur Scrap Suppliers Private Limited ·
Jayswal Neco Urja Limited |
CAPITAL STRUCTURE
As on
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
Equity Shares |
Rs.10/- each |
|
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
Equity Shares |
Rs.10/- each |
|
|
|
|
|
|
|
|
|
|
|
|
Capital Investment : |
|
|
Owned : |
(Estimated) |
|
Borrowed : |
|
|
Total : |
|
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.5986.300 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs.10000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
497183463 |
Equity Shares |
Rs.10/- each |
Rs.4971.834
Millions |
|
|
Less: Allotment Money Unpaid (from other than Directors) |
|
Rs.0.072
Millions |
|
|
Total |
|
Rs.4971.762 Millions |
Reconciliation of Equity Shares
outstanding at the beginning and at the end of the year
|
Equity Shares |
Number
of Shares |
Rs.
In Millions |
|
Shares outstanding at the beginning of year |
359,683,463 |
3596.834 |
|
Add: Shares issued during the year on Preferential Basis |
137,500,000 |
1375.000 |
|
Shares
outstanding at the end of the year |
497,183,463 |
4971.834 |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Jayaswal Holdings Private Limited |
43,978,951 |
8.85 |
|
Karamveer Impex Private Limited |
39,069,000 |
7.86 |
|
Nine Star Plastic Packaging Services Private Limited |
36,974,600 |
7.44 |
|
Jayaswal Neco Metallics Private Limited |
32,790,500 |
6.60 |
|
Avon Sales and Services Private Limited |
30,815,000 |
6.20 |
|
Jayaswal Neco Energy Private Limited |
31,312,000 |
6.30 |
|
Jayaswal Neco Power Private Limited |
29,722,500 |
5.98 |
|
Anurag Sales and Services Private Limited |
30,091,000 |
6.05 |
|
Apex Spining Mills Private Limited |
26,559,600 |
5.34 |
123776856 shares were allotted in the last five years pursuant to various schemes of Amalgamation and Arrangement without payment being received in cash.
Rights of Equity
Shareholders
The Company has only one class of equity shares having a face value of Rs.10/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation of the Company, the equity shareholders will be entitled to receive any of 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 shareholder.
During the financial year 2010-11, the Board of Directors
has approved the Scheme of Arrangement (“the Scheme”) under sections 391-394 of
the Companies Act, 1956, between the Company and Corporate Ispat Alloys Limited
(“CIAL”) providing for demerger of Steel Division of CIAL for the purpose of
its merger with the Company with effect from 1st April, 2008. Necessary
approvals from the Stock Exchanges under clause 24(f) of the Listing Agreement
have been received. The Company has in compliance of the order of the High
Court held meetings of Shareholders and Creditors of the Company on 20th April,
2012. The shareholders have unanimously approved the scheme. The creditors'
meeting has been adjourned at the request of the creditors present. On
obtaining the required statutory approvals and sanctions of the High Courts,
and the Scheme coming into force, the Company shall issue 32649600 fully
paid-up Equity Shares of Rs.10/- each to the eligible shareholders of CIAL in
the ratio of 114 Equity Shares of the Company for every 10 Equity Shares held
by them in CIAL as on the record date.
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 |
5,986.300 |
4971.762 |
3596.762 |
|
(b) Reserves & Surplus |
15,252.400 |
13093.078 |
8681.604 |
|
(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) |
21,238.700 |
18064.840 |
12278.366 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
24,559.400 |
14411.367 |
10977.102 |
|
(b) Deferred tax liabilities (Net) |
2,034.000 |
1606.707 |
1422.841 |
|
(c) Other long term liabilities |
1.700 |
1.685 |
8.394 |
|
(d) long-term provisions |
269.500 |
269.495 |
78.233 |
|
Total Non-current Liabilities (3) |
26,864.600 |
16289.254 |
12486.570 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10,005.600 |
7770.145 |
4288.953 |
|
(b) Trade payables |
3,693.600 |
3578.579 |
3427.328 |
|
(c) Other current
liabilities |
3,209.600 |
2831.674 |
2550.858 |
|
(d) Short-term provisions |
561.000 |
511.664 |
419.296 |
|
Total Current Liabilities (4) |
17,469.800 |
14692.062 |
10686.435 |
|
|
|
|
|
|
TOTAL |
65,573.100 |
49046.156 |
35451.371 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
35,049.200 |
12175.921 |
11329.832 |
|
(ii) Intangible Assets |
0.000 |
424.362 |
248.857 |
|
(iii) Capital
work-in-progress |
0.000 |
9516.801 |
5503.693 |
|
(iv)
Intangible assets under development |
0.000 |
848.951 |
698.862 |
|
(b) Non-current Investments |
0.000 |
0.001 |
137.056 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14,352.500 |
12292.886 |
5511.869 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
49,401.700 |
35258.922 |
23430.169 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
144.700 |
143.517 |
4.185 |
|
(b) Inventories |
7,816.500 |
8018.506 |
6938.966 |
|
(c) Trade receivables |
4,106.300 |
3018.541 |
2907.863 |
|
(d) Cash and cash
equivalents |
2,545.700 |
1513.030 |
1080.138 |
|
(e) Short-term loans and
advances |
1,558.200 |
1093.640 |
968.576 |
|
(f) Other current assets |
0.000 |
0.000 |
121.474 |
|
Total Current Assets |
16,171.400 |
13787.234 |
12021.202 |
|
|
|
|
|
|
TOTAL |
65,573.100 |
49046.156 |
35451.371 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
31,610.500 |
25492.423 |
25904.942 |
|
|
|
Other Income |
103.200 |
117.807 |
155.030 |
|
|
|
TOTAL (A) |
31,713.700 |
25610.230 |
26059.972 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
18,783.300 |
15584.875 |
16375.590 |
|
|
|
Purchase of Stock in Trade |
1,690.600 |
546.027 |
203.432 |
|
|
|
Changes in Inventories of Finished Goods and Work in Progress |
(309.300) |
(675.022) |
(508.612) |
|
|
|
Employee Benefits Expense |
1,491.700 |
1274.912 |
1191.354 |
|
|
|
Exchange difference (net) |
123.400 |
0.000 |
0.000 |
|
|
|
Other Expenses |
5,921.400 |
5618.137 |
5319.198 |
|
|
|
TOTAL (B) |
27,701.100 |
22348.929 |
22580.962 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4,012.600 |
3261.301 |
3479.010 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1,733.800 |
1806.214 |
1766.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2,278.800 |
1455.087 |
1712.604 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1,157.200 |
966.836 |
865.931 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1,121.600 |
488.251 |
846.673 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
488.600 |
201.777 |
308.677 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
633.000 |
286.474 |
537.996 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2811.611 |
2525.061 |
1986.988 |
|
|
|
|
|
|
|
|
|
Add |
TRANSFERRED FROM
REVALUATION RESERVE |
NA |
0.076 |
0.077 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
2811.611 |
2525.061 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
NA |
118.428 |
73.101 |
|
|
|
Recovery of Freight |
NA |
3.028 |
1.843 |
|
|
TOTAL EARNINGS |
NA |
121.456 |
74.944 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
4111.479 |
3858.532 |
|
|
|
Stores & Components |
NA |
106.240 |
40.619 |
|
|
|
Traded Goods |
NA |
0.000 |
0.000 |
|
|
|
Capital Goods |
NA |
61.596 |
524.000 |
|
|
TOTAL IMPORTS |
NA |
4279.315 |
4423.151 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
1.19 |
0.73 |
1.95 |
|
|
|
Diluted |
1.17 |
0.66 |
1.95 |
|
Expected Sales (2014-15): Rs. 35000.000 Millions.
The above information has been parted by Mr. S. A. Niyudkar.
QUARTERLY /
SUMMARISED RESULTS
|
Particulars |
|
|
|
30.06.2014 (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
1st Quarter |
|
Net Sales |
|
|
|
6892.600 |
|
Total Expenditure |
|
|
|
6032.400 |
|
PBIDT (Excl OI) |
|
|
|
860.200 |
|
Other Income |
|
|
|
60.600 |
|
Operating Profit |
|
|
|
920.800 |
|
Interest |
|
|
|
416.800 |
|
Exceptional Items |
|
|
|
0.000 |
|
PBDT |
|
|
|
504.000 |
|
Depreciation |
|
|
|
294.600 |
|
Profit Before Tax |
|
|
|
209400 |
|
Tax |
|
|
|
70.500 |
|
Provisions and contingencies |
|
|
|
0..000 |
|
Profit After Tax |
|
|
|
138.900 |
|
Extraordinary Items |
|
|
|
0.000 |
|
Prior Period Expenses |
|
|
|
0.000 |
|
Other Adjustments |
|
|
|
0.000 |
|
Net Profit |
|
|
|
138.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.00 |
1.12 |
2.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.55 |
1.92 |
3.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.71 |
1.26 |
2.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.03 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.63 |
1.23 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
0.94 |
1.12 |
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 |
3596.762 |
4971.762 |
5986.300 |
|
Reserves & Surplus |
8681.604 |
13093.078 |
15252.400 |
|
Net
worth |
12278.366 |
18064.840 |
21238.700 |
|
|
|
|
|
|
long-term borrowings |
10977.102 |
14411.367 |
24559.400 |
|
Short term borrowings |
4288.953 |
7770.145 |
10005.600 |
|
Total
borrowings |
15266.055 |
22181.512 |
34565.000 |
|
Debt/Equity
ratio |
1.243 |
1.228 |
1.627 |
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 |
25,904.942 |
25,492.423 |
31,610.500 |
|
|
|
(1.592) |
24.000 |
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
|
25,904.942 |
25,492.423 |
31,610.500 |
|
Profit |
537.996 |
286.474 |
633.000 |
|
|
2.08% |
1.12% |
2.00% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
|
Sales Tax Deferral (Under Package Scheme of Incentives) |
|
338.576 |
|
Long term maturities of finance lease obligations |
|
32.217 |
|
Short Term
Borrowings |
|
|
|
Inter Corporate
Deposits taken from |
|
|
|
Related party |
|
627.242 |
|
Others |
|
184.940 |
|
Buyer's Credits |
|
20.361 |
|
Suppliers Credits * |
|
2375.606 |
|
Total |
NA |
3578.942 |
INDEX OF CHARGES
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10485451 |
24/03/2014 |
1,330,000,000.00 |
PUNJAB NATIONAL BANK |
Sitabuldi, Mahajan
Market, Nagpur, Maharashtra - |
C00682559 |
|
2 |
10483785 |
27/03/2014 * |
1,350,600,000.00 |
State bank of India |
Industrial Finance Branch, Bharat Nagar, Amravati Road, Nagpur, Maharashtra - 440010, India |
C01064260 |
|
3 |
10471710 |
09/01/2014 |
1,000,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B94070455 |
|
4 |
10445870 |
26/08/2013 |
860,000.00 |
Axis Bank Limited |
Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India |
B83482174 |
|
5 |
10430629 |
27/03/2014 * |
2,000,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance
Branch, No.5, Sai Complex, Bharat Nagar, Amravati Road, Nagpur, Maharashtra -
|
C01063478 |
|
6 |
10364490 |
14/01/2013 * |
1,000,000,000.00 |
State Bank of Travancore |
125, Central Avenue,, Gandhi Putala, Nagpur, Maharashtra - 440032, India |
B67261529 |
|
7 |
10358283 |
14/01/2013 * |
3,110,000,000.00 |
UNION BANK CONSORTIUM |
Gandhibagh Branch, 318 Post Office Road, Nagpur, Maharashtra - 440002, India |
B66958976 |
|
8 |
10344577 |
14/01/2013 * |
2,870,000,000.00 |
PUNJAB NATIONAL BANK (LEAD BANK) |
Sitabuldi, Mahajan Market, Nagpur, Maharashtra - 440012, India |
B66481649 |
|
9 |
10332723 |
30/01/2012 |
708,787.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai, Maharashtra - 400021, India |
B30893986 |
|
10 |
10321815 |
26/06/2012 * |
1,000,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B43470525 |
|
11 |
10306378 |
15/09/2011 |
2,029,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
B20579512 |
|
12 |
10294186 |
30/06/2011 |
1,772,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
B15815095 |
|
13 |
10288452 |
26/06/2012 * |
1,800,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, No 5, Sai Complex, Bharat Nagar, Amravati Road, Nagpur, Maharashtra - 440010, India |
B43019264 |
|
14 |
10278072 |
27/11/2012 * |
18,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building, Ground Floor, 17, R Kamani Marg, Ballard Estate,, Mumbai, Maharashtra - 400001, India |
B63351969 |
|
15 |
10264595 |
07/05/2013 * |
1,325,000,000.00 |
UCO BANK |
Flagship Corporate Branch,
1st Floor, Mafatlal Centre, Nariman Point, Mumbai, Maharashtra - 400021, |
B75544312 |
|
16 |
10257301 |
26/06/2012 * |
890,000,000.00 |
State Bank of Travancore |
125, Central Avenue, Gandhiputala, Nagpur, Maharashtra - 440032, INDIA |
B43191949 |
|
17 |
10233190 |
21/07/2010 |
1,780,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A90346552 |
|
18 |
10224859 |
26/06/2012 * |
220,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
B43393099 |
|
19 |
10218039 |
09/03/2010 |
2,600,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A84690445 |
|
20 |
10187665 |
15/01/2013 * |
750,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B66959933 |
|
21 |
10173884 |
24/08/2009 |
9,800,000.00 |
L and T Finance Limited |
L and T House,, Ballard Estate, Mumbai, Maharashtra - 400001, India |
A68705490 |
|
22 |
10178255 |
20/08/2009 |
24,750,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A68061274 |
|
23 |
10173886 |
27/07/2009 |
1,575,000.00 |
L and T Finance Limited |
L and T House,, Ballard Estate, Mumbai, Maharashtra - 400001, India |
A68707884 |
|
24 |
10173885 |
23/07/2009 |
18,200,000.00 |
L and T Finance Limited |
L and T House,, Ballard Estate, Mumbai, Maharashtra - 400001, India |
A68706209 |
|
25 |
10161279 |
20/05/2009 |
1,048,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A63694442 |
|
26 |
10154346 |
17/04/2009 |
687,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A60837317 |
|
27 |
10138505 |
27/03/2014 * |
9,881,700,000.00 |
SBI Consortium - Lead - State Bank of India |
Industrial Finance
Branch, 5, Sai Complex, Bharat Nagar, Amravati Road, Nagpur, Maharashtra -
4400 |
C01063940 |
|
28 |
10141124 |
26/06/2012 * |
250,000,000.00 |
Export-Import Bank of India |
Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade,, Mumbai, Maharashtra - 400005, India |
B44004950 |
|
29 |
10136554 |
26/06/2012 * |
74,100,000.00 |
BANK OF INDIA |
Nagpur Corporate Banking Branch, S V Patel Marg, Nagpur, Maharashtra - 440001, India |
B42821942 |
|
30 |
10132486 |
26/06/2012 * |
500,000,000.00 |
PUNJAB NATIONAL BANK |
Sitabuldi, Nagpur, Maharashtra - 440012, India |
B43017169 |
|
31 |
10123484 |
26/06/2012 * |
500,000,000.00 |
UNION BANK OF INDIA |
Gandhibagh, Nagpur, Maharashtra - 440002, India |
B42646489 |
|
32 |
10121514 |
15/01/2013 * |
1,750,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B66958026 |
|
33 |
10116416 |
26/06/2012 * |
850,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
B43394352 |
|
34 |
10112644 |
16/05/2008 |
670,000,000.00 |
ALLAHABAD BANK |
Kolkata Industrial
Finance Branch, Kishore Bhavan, 4th Floor, 17 R N Mukherjee Road, Kolkata,
West |
A41117730 |
|
35 |
10088288 |
20/10/2007 |
560,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A32700130 |
|
36 |
10088289 |
20/10/2007 |
560,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A32700726 |
|
37 |
10088290 |
20/10/2007 |
560,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai, Maharashtra - 400021, India |
A32701880 |
|
38 |
10068605 |
15/01/2013 * |
250,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B66809641 |
|
39 |
10029747 |
20/12/2006 |
1,000,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, Kishore Bhavan, Kolkata, West Bengal - 700001, India |
A07761166 |
|
40 |
10011948 |
09/06/2006 |
779,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709475 |
|
41 |
10011951 |
09/06/2006 |
613,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709426 |
|
42 |
10012210 |
09/06/2006 |
779,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709616 |
|
43 |
10012212 |
09/06/2006 |
779,000.00 |
Kotak Mahindra Bank Limited |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, India |
A02709558 |
|
44 |
90241649 |
17/11/2005 |
14,200,000.00 |
INDUSTRIAL INVESTMENT BANK OF INDIA LIMITED. |
Earnest House,
Nariman Point, Mumbai, Maharashtra |
- |
|
45 |
90241749 |
17/11/2005 |
15,000,000.00 |
BANK OF PUNJAB LIMITED. |
171 B Mittel Court, Nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
46 |
90241750 |
17/11/2005 |
1,600,000.00 |
UNITED INSIA INSURANCE COMPANY LIMITED |
24 Whites Road, P O Boxno 876, Chennai, Tamil Nadu - 600014, India |
- |
|
47 |
80031674 |
17/11/2005 * |
165,300,000.00 |
Industrial Development Bank Of India Limited |
IDBI Tower WTC Complex Cuffe Parade , Mumbai, Maharashtra - 400005, India |
- |
|
48 |
90187037 |
23/12/2003 |
105,000,000.00 |
GLOBAL TRUST BANK LIMITED |
15 Maker Chambers 3 Nariman Point, Mumbai, Maharashtra - 440021, India |
- |
|
49 |
90186876 |
25/09/2001 |
50,000,000.00 |
GLOBAL TRUST BANK LIMITED |
303-48-3 Sardar Patel Road, Secundarabad, Andhra Pradesh - 500003, India |
- |
|
50 |
90186844 |
09/04/2001 |
270,000,000.00 |
Industrial Development Bank Of India Limited |
IDBI Tower WTC Complex Cuffe Parade , Mumbai, Maharashtra - 400005, India |
- |
|
51 |
90187867 |
01/11/2000 |
50,000,000.00 |
GLOBAL TRUST BANK LIMITED |
15 Maker Chambers, 3 Nariman Point, Mumai, Maharashtra - 400021, India |
- |
|
52 |
90186786 |
20/09/2000 |
121,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
- |
|
53 |
90187852 |
27/04/2000 |
80,000,000.00 |
All And Singular The Leasehold Lands Situste |
T 42 In The Nagpur Industrial Area, Nagpur, Maharashtra, India |
- |
|
54 |
90186748 |
17/11/2005 * |
50,000,000.00 |
Industrial Investment Bank of India Limited |
Earnest House,
Nariman Point, Mumbai, Maharashtra |
- |
|
55 |
80032075 |
17/11/2005 * |
294,800,000.00 |
IDBI |
IDBI Tower, colaba , Mumbai, Maharashtra - 400005, INDIA |
- |
|
56 |
90186600 |
08/08/1998 |
50,000,000.00 |
GLOBAL TRUST BANK LIMITED |
Maker Chambers, 3nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
57 |
90186527 |
02/01/1998 |
101,000,000.00 |
GLOBAL TRUST BANK LIMITED |
Maker Chambers 3 Nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
58 |
90186525 |
17/11/2005 * |
1,900,000.00 |
ORIENTAL INS COMPANYLIMITED. |
Oriental House, Asaf
Ali Road, Delhi, Delhi - 110 |
- |
|
59 |
90186488 |
27/04/2000 * |
62,500,000.00 |
Industrial Development Bank Of India Limited |
IDBI Tower WTC Complex Cuffe Parade , Mumbai, Maharashtra - 400005, India |
- |
|
60 |
90187740 |
25/10/2001 * |
900,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
- |
|
61 |
90186400 |
27/04/2000 * |
1,200,000.00 |
EXPORT INPORT BANK OF INDIA |
Centre One World Trade Centre, Mumbai, Maharashtra - 400005, India |
- |
|
62 |
90187727 |
25/10/2001 * |
1,000,000.00 |
ICICI LIMITED |
ICICI Tower, Bandara Kurala Complex Bandra E, Mumbai, Maharashtra - 400051, India |
- |
|
63 |
90186382 |
17/11/2005 * |
4,500,000.00 |
Oriental Ins Company Limited |
Oriental House, Asaf Ali Road, Delhi, Delhi - 110002, India |
- |
|
64 |
90186231 |
17/11/2005 * |
70,000,000.00 |
Industrial Investment Bank of India Limited |
Earnest House, Nariman Point, Mumbai, Maharashtra - 400021, India |
- |
|
65 |
90188986 |
15/12/1976 |
200,000.00 |
The State Industrual Investment Corporation Of Maharashtra L |
1st Floor Nariman Point, Bombay, Maharashtra - 400021, India |
- |
|
66 |
90188982 |
08/01/1976 |
400,000.00 |
M S F C |
Fount Road, Nagpur, Maharashtra, India |
- |
* Date of charge modification
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH 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) |
6892.100 |
|
b) Other operating income |
0.500 |
|
Total
income from Operations(net) |
6892.600 |
|
2.Expenditure |
|
|
a) Cost of material consumed |
3873.900 |
|
b) Purchases of stock in trade |
167.300 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
92.700 |
|
d) Employees benefit expenses |
378.400 |
|
e) Depreciation and amortization expenses |
294.600 |
|
f) Exchange Difference (Net) |
(26.300) |
|
f) Other expenditure |
1520.100 |
|
Total expenses |
6300.700 |
|
3. Profit from operations before other income and
financial costs |
591.900 |
|
4. Other income |
34.300 |
|
5. Profit from ordinary activities before finance costs |
626.200 |
|
6. Finance costs |
416.800 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
209.400 |
|
8.
Exceptional item |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
209.400 |
|
10.Tax expenses |
70.500 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
138.900 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
138.900 |
|
14.Paid-up
equity share capital (Nominal value Rs.10/- per share) |
5986.300 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
16.i) Earnings per share (before and after
extraordinary items) of Rs.10/- each) (not annualised): |
|
|
(a) Basic |
0.23 |
|
(b) Diluted |
0.23 |
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2014 |
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
186730222 |
|
- Percentage of shareholding |
31.19% |
|
2. Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
8927000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
2.17% |
|
Percentage of shares (as a % of total share capital of the
company) |
1.49% |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
402975841 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
97.83% |
|
Percentage of shares (as a % of total share capital of the
company) |
67.32% |
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
0 |
|
Disposed of during the quarter |
0 |
|
Remaining unreserved at the end of the quarter |
Nil |
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
|
|
30.06.2014 |
|
1.
Segment Revenue |
|
|
a. Steel |
5887.600 |
|
b. Iron and Steel Castings |
1067.900 |
|
Total |
6955.500 |
|
Less : Inter Segment Revenue |
63.400 |
|
Net
Sales from operations |
6892.100 |
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
a. Steel |
581.800 |
|
b. Iron and Steel Castings |
27.100 |
|
Total |
608.900 |
|
Less
: (i) Interest |
416.800 |
|
(ii) Other un-allocable expenditure
net off un-allocable income. |
9.300 |
|
Add : Unallocated Income |
26.600 |
|
Profit
before Tax |
209.400 |
|
|
|
|
3.
Capital Employed |
|
|
a. Steel |
56287.200 |
|
b. Iron and Steel Castings |
2875.200 |
|
c. Unallocated (Assets – Liabilities)
|
(37784.800) |
|
Total |
21377.600 |
Notes:
1.
The
above results have been reviewed by Audit Committee and approved and taken on
record by the Board of Directors at its Meeting held on 11th August, 2014.
2.
The statutory
auditors of the Company have carried out a Limited Review of the results for
the quarter ended 30th June, 2014 in accordance with clause 41 of the listing
agreement.
3.
The
Company is in the process of technical evaluation to determine useful life of
its fixed assets and pending thereof it continued to provide the depreciation
on its fixed assets for the quarter ended 30th June, 2014 at the rates and in
the manner as prescribed in the schedule XIV to the Companies Act, 1956 and
also as per the accounting policy followed during the year ended 31st March
2014. Upon the completion of evaluation and determination of useful life the
Company intends to provide the depreciation on its fixed assets in terms of
Schedule II to the Companies Act, 201 3 in the subsequent quarters.
4.
The
published figures for the corresponding quarter ended 30th June 2013 have been
restated to give the effects of the scheme of arrangement providing for the
merger of steel division of corporate lspat Alloys Limited with the Company as
approved by the Hon'ble High Courts of Judicature at Calcutta and Bombay.
5.
The
Company's Project for enhancement of lron and Steel making capacities of its
Integrated Steel Plant, Captive Power Plants, Coal Washeries and development of
its Coal and lron Ore Mines in Chhattisgarh are facing time delay of around
twelve months. However, the Projects for implementation of 1.2 MTPA Pellets
Plant at Raipur, Debottlenecking and augmentation of its facilities at Raipur
and Nagpur are progressing as per schedule. The delivery of major portion of
the equipments is received and the Company is confident and committed to
commission the projects at the earliest.
6.
During
the quarter the Blast Furnace Complex at Raipur was closed for about three
weeks to integrate new Blast Stoves which affected the operations of the
Company.
7.
Subsequent
to the quarter end 40000000 equity shares of Rs.101- each have been allotted at
Rs.251- per share to the promoters and others on a preferential basis.
8.
The above
results are prepared in accordance with the recognition and measurement
principles laid down in the Accounting Standard 25 (AS 25 - Interim Financial
Reporting) as those followed in previous year. The figures for the
corresponding previous periods have been regrouped 1 rearranged wherever
necessary to make them comparable. The figures for the quarter ended 31st
March, 2014 are the balancing figures between the audited figures in respect of
full financial year and the published year to date figures up to the third
quarter of the financial year 2013-2014.
FIXED ASSETS
·
Freehold Land
·
Leasehold Land
·
Building
·
Railway Siding
·
Plant and Machinery
·
Developed Property
·
Office Equipment
·
Furniture and Fixture
·
Vehicles
·
Software
·
Technical Know-how
·
Process Development
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.61.46 |
|
|
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
51 |
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.