MIRA INFORM REPORT
|
Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CENTRAL MINE PLANNING AND DESIGN INSTITUTE LIMITED |
|
|
|
|
Registered
Office : |
Gondwana Place, Kanke Road, Ranchi - 834008, Jharkhand |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.11.1975 |
|
|
|
|
Com. Reg. No.: |
03-001223 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 190.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14292JH1975GOI001223 |
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is Engaged in Providing Total Consultancy in Coal and Mineral Exploration, Mining, Engineering and Allied Fields as The Premier Consultant. |
|
|
|
|
No. of Employees
: |
Information decline by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported to be decent. Business is active. Payment
terms are reported to be regular and as per commitment. 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.
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-cooperative (Tel No. 91-651-2231850)
LOCATIONS
|
Registered Office : |
Gondwana Place, Kanke Road,
Ranchi - 834 031, Jharkhand, India |
|
Tel. No.: |
91-651-2230169 |
|
Fax No.: |
91-651-2231447 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
MANAGEMENT AS ON 31.03.2014
|
Functional Directors |
|
|
Name |
Designation |
|
Mr. Amal Kumar Debnath |
Chairman-cum-Managing Director (From 19.02.2013) |
|
Mr. Baidya Nath Basu |
Director (Technical) (Upto 31.05.2013) |
|
Mr. Dilip Kumar Ghosh |
Director (Technical) (From 13.10.2011) |
|
Mr. Rajesh Kumar Chopra |
Director (Technical) (From 13.01.2012) |
|
Mr. Shekhar Saran |
Director (Technical) (From 01.06.2013) |
|
Mr. V.K. Sinha |
Director (Technical) (From 08.01.2014) |
|
|
|
|
Part-time Official Directors |
|
|
Name |
Designation |
|
Mr. Devulapalli Narasimha Prasad |
Adviser (Projects), Ministry of Coal,New Delhi, (From 27.01.2010) |
|
Mr. Nagendra Kumar |
Director (Technical), Coal India Ltd., (From 29.02.2012) |
|
|
|
|
Independent Directors |
|
|
Name |
Designation |
|
Prof. Vedala Rama Sastry |
Director (Upto 23.12.2013) |
|
Mr. Pramod Kumar Misra |
Director (Upto 23.12.2013) |
|
Dr. Mukesh Khare |
Director (Upto 23.12.2013) |
|
Prof. P. K. J. Mohapatra |
Director (Upto 23.12.2013) |
|
Mr. Rakesh Kumar Mittal |
Director (From 01.11.2013) |
|
|
|
|
Permanent Invitee |
|
|
Name |
Designation |
|
Sharad Ghodke |
Director, Ministry of Coal, New Delhi |
MEMBERS OF THE BOARD AS ON 01.05.2014
|
Functional Directors |
|
|
Name |
Designation |
|
Mr. Amal Kumar Debnath |
Chairman-cum-Managing Director |
|
Mr. Dilip Kumar Ghosh |
Director (Technical) |
|
Mr. Rajesh Kumar Chopra |
Director (Technical) |
|
Mr. Shekhar Saran |
Director (Technical) |
|
Mr. V.K. Sinha |
Director (Technical) |
|
|
|
|
Part-time Official Directors |
|
|
Name |
Designation |
|
Mr. Devulapalli Narasimha Prasad |
Adviser (Projects), Ministry of Coal,New Delhi |
|
Mr. Nagendra Kumar |
Director (Technical), Coal India Limited |
|
|
|
|
Part-time Non-Official Director |
|
|
Name |
Designation |
|
Mr. Rakesh Kumar Mittal |
Independent Director |
|
|
|
|
Permanent Invitee |
|
|
Name |
Designation |
|
Sharad Ghodke |
Director, Ministry of Coal, New Delhi |
KEY EXECUTIVES
|
Name : |
Mr. P. Lazar |
|
Designation : |
Dy. G. M. (Finance) / Company secretary (From 01.04.2011) |
MAJOR SHAREHOLDERS
As on 31.03.2014
|
Names of Shareholders |
No. of Shares |
|
Coal India Limited |
190400 |
|
Total |
190400 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is Engaged in Providing Total Consultancy in Coal and Mineral Exploration, Mining, Engineering and Allied Fields as The Premier Consultant. |
|
|
|
|
Services : |
Natural Resources Management and Field Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information decline by the management. |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Todi Tulsyan And Company Chartered Accountant |
|
Address : |
602, Luv Kush Tower, Exhibition Road, Patna – 800 001, Bihar, India |
|
|
|
|
Subsidiaries : |
Coal India Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.1000/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85392 |
Equity Shares |
Rs.1000/-
each |
Rs. 85.400
Millions |
|
105000 |
Equity Shares |
Rs.1000/-
each |
Rs.
105.000millions |
|
|
|
|
Rs. 190.400 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
190.400 |
190.400 |
190.400 |
|
(b) Reserves & Surplus |
1368.400 |
1158.500 |
918.800 |
|
(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) |
1558.800 |
1348.900 |
1109.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1835.100 |
1821.100 |
1704.000 |
|
Total Non-current
Liabilities (3) |
1835.100 |
1821.100 |
1704.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
458.000 |
324.300 |
334.500 |
|
(c) Other
current liabilities |
2229.900 |
2151.800 |
1614.300 |
|
(d) Short-term
provisions |
2223.400 |
1984.500 |
1528.400 |
|
Total Current
Liabilities (4) |
4911.300 |
4460.600 |
3477.200 |
|
|
|
|
|
|
TOTAL |
8305.200 |
7630.600 |
6290.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
714.500 |
751.800 |
780.600 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
255.900 |
113.700 |
115.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
1015.900 |
955.400 |
716.700 |
|
(d) Long-term Loan and Advances |
20.200 |
7.400 |
8.400 |
|
(e) Other
Non-current assets |
0.200 |
0.200 |
0.200 |
|
Total Non-Current Assets |
2006.700 |
1828.500 |
1621.100 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
57.700 |
60.400 |
67.700 |
|
(c) Trade
receivables |
1983.400 |
3238.000 |
2469.200 |
|
(d) Cash
and cash equivalents |
1091.800 |
1178.900 |
612.100 |
|
(e)
Short-term loans and advances |
3165.100 |
1324.300 |
1519.800 |
|
(f) Other
current assets |
0.500 |
0.500 |
0.500 |
|
Total
Current Assets |
6298.500 |
5802.100 |
4669.300 |
|
|
|
|
|
|
TOTAL |
8305.200 |
7630.600 |
6290.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6474.300 |
6010.500 |
5240.300 |
|
|
|
Other Income |
50.100 |
41.600 |
46.900 |
|
|
|
TOTAL (A) |
6524.400 |
6052.100 |
5287.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
199.900 |
152.800 |
166.700 |
|
|
|
Employees benefits expense |
3645.300 |
3677.200 |
3400.800 |
|
|
|
Power & Fuel |
31.100 |
21.000 |
22.400 |
|
|
|
Welfare Expenses |
176.400 |
193.700 |
34.800 |
|
|
|
Repairs |
142.500 |
135.800 |
96.100 |
|
|
|
Contractual Expenses |
1522.700 |
1141.300 |
930.000 |
|
|
|
Provisions |
(1.900) |
3.900 |
(5.200) |
|
|
|
Write off |
0.000 |
0.000 |
0.800 |
|
|
|
Prior Period Adjustment { Charges/ (Incomes) } |
(5.100) |
51.900 |
(8.500) |
|
|
|
Other expenses |
367.500 |
300.300 |
274.000 |
|
|
|
TOTAL (B) |
6078.400 |
5677.900 |
4911.900 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
446.000 |
374.200 |
375.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.700 |
0.900 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
444.300 |
373.300 |
375.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
98.300 |
75.600 |
67.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
346.000 |
297.700 |
307.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
150.300 |
47.200 |
111.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
195.700 |
250.500 |
196.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1002.800 |
763.100 |
574.600 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to CSR |
12.500 |
9.800 |
7.600 |
|
|
|
Transfer to sustainable development
reserve |
1.200 |
1.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1184.800 |
1002.800 |
763.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
0.300 |
0.000 |
0.000 |
|
|
|
Capital Goods |
6.200 |
9.500 |
7.800 |
|
|
TOTAL IMPORTS |
6.500 |
9.500 |
7.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1028.00 |
1316.00 |
1030.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.00 |
4.14 |
3.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.34 |
4.95 |
5.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.92 |
4.54 |
5.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.22 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.30 |
1.34 |
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 |
190.400 |
190.400 |
190.400 |
|
Reserves & Surplus |
918.800 |
1158.500 |
1368.400 |
|
Net
worth |
1109.200 |
1348.900 |
1558.800 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
5240.300 |
6010.500 |
6474.300 |
|
|
|
14.698 |
7.716 |
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 |
5240.300 |
6010.500 |
6474.300 |
|
Profit |
196.100 |
250.500 |
195.700 |
|
|
3.74% |
4.17% |
3.02% |
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 |
No |
|
9] |
Name of person
contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm
for last three years |
Yes |
|
12] |
Profitability for
last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
---------------------- |
|
14] |
Estimation for
coming financial year |
No |
|
15] |
Capital in the
business |
No |
|
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 |
No |
|
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 |
No |
|
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 |
No |
CORPORATE OVERVIEW
The Company, a Mini Ratna (Cat-II) company, continued to
operate with seven Regional Institutes (RIs) located at Asansol, Dhanbad,
Ranchi, Nagpur, Bilaspur, Singrauli & Bhubaneswar and its Headquarter at
Gondwana Place, Kanke Road, Ranchi. Seven Regional Institutes designated as
Regional Institute (RI)-I to RIVII rendered consultancy services to seven
corresponding subsidiaries of CIL viz. ECL (RI-I), BCCL (RI-II), CCL (RI-III),
WCL (RIIV), SECL (RI-V), NCL (RI-VI), & MCL (RIVII). Consultancy services
to CIL (HQ), NEC & non-CIL clients like Directorate General of
Hydrocarbons, Manganese Ore (India) Ltd., National Thermal Power Corporation
Ltd., National Aluminium Company Limited, Steel Authority of India Ltd.,
Hindustan opper Ltd., Neyveli Lignite Corporation Ltd., Jindal Steel &
Power Limited, SCCL, DVC, Orissa Mining Corporation, Odisha Power Generation Corporation,
Orissa Industrial Infrastructure Development Corporation, Baitarani West Coal
Company
Limited, etc. were provided mainly through CMPDIL Headquarter. Besides
these Consultancy services, CMPDI also handled specialized assignments of
Ministry of Coal.During the Year 2013-14, 36 outside CIL consultancy jobs worth
Rs. 23.35 crores from 20 organisations were received by CMPDIL.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Outlook and Preparedness of CMPDIL
CMPDI exploration activities had major spurt during the XI Plan period
as well as in the 1st year of the XII Plan. Through departmental drills and
outsourcing, CMPDI carried out 19.41 lakh meter of drilling during the XI Plan
period (2007-12) in comparison to about 10 lakh meter of total drilling carried
out during the X Plan period (2002-
07). Also,
compared to 2.09 lakh metre of drilling carried out in the beginning year of XI
Plan, i.e. 2007-08, 5.63 lakh metre of drilling was carried out in 2012-13 and
6.97 lakh metre in 2013-14 through departmental resources and outsourcing.
Modernization of departmental drills, induction of new higher capacity
mechanical and drostatic
drills,
introduction of high performance bits resulting in higher productivity,
adopting latest mud technology, fective arrangement for drilling accessories
including mud pumps and trucks had been the key to augment the drilling
capacity of CMPDI.
The target for
2014-15 has been substantially increased to 12 lakh metre which is further
required to be raised to a level of 15 lakh meter per year by the year 2015-16
(departmental exploration capacity to be raised to a level of 4 lakh meter).
This necessitated emphasis on outsourcing of substantial number of coal blocks
for drilling. CMPDI had entered into a long term MOU with MECL on 6th January
2009 for offering up to one lakh meter of xploratory drilling per annum to MECL
in different coal blocks. The annual limit has further been enhanced to 1.5
lakh meters from 2012-13. CMPDI has outsourced 26 coal blocks since 2008 to
private agencies through different rounds of national and global tenders.
Further ‘e-tendering’ was introduced for outsourcing of coal blocks for
detailed exploration during2012-13 and work has been successfully awarded for
16 blocks through E-tendering and drilling work has started in 13 blocks.
A total of 126
projects were identified for XII Plan resulting in capacity addition about 446
Mt, against which, project reports for 93 projects, with capacity addition of
about 337 Mt have already been formulated. During the year under review, 26
Project Reports have been prepared with capacity addition of about 81 Mt.
Balance 33 Project Reports with capacity addition of about 109 Mt will be
formulated in subsequent years of XII Plan.
Capacities of most
of the laboratories in CMPDI have been upgraded. Chemical and Petrography
laboratories have been upgraded with sophisticated imported equipments and the
capacities have been enhanced. evironment laboratories have been upgraded at
HQ, RI-I and RI-IV and established at RI-V whereas, upgradation of RI-VI
Environmental lab is underway. Action for establishment of new environmental ab
at RI-VII, Bhubneswar and RI-II, Dhanbad has been taken up. CMPDI is also in
the process of enhancing pacity of already existing state of the art CBM lab
which has been added with facility of TOC equipment for shale gas potentiality
assessment. Rock Eval Pyrolysis equipment required for assessing shale gas
prospectivity is under procurement process and is expected to be procured
shortly. With the acquisition of this
equipment CBM lab will be equipped with technologically driven
instruments fulfilling the analytical requirement of Shale gas studies. CMPDI
has created the facility for adsorption isotherm test, which is capable of
testing adsorption capacity of coal seam upto 20 Mpa pressure (a pressure of
about 2000 meter depth). The equipment of this capacity is probably first of this
kind in India. The Mining Technology laboratory has been made capable for
carrying out the Resin and Cement Capsule tests. One heavy duty Universal
Testing Machine (UTM) of 000 kN capacity has also been procuredand installed
for determination of physicomechanical properties.
Manpower
requirement of Exploration, Planning and Design as well as allied engineering
services have been ddressed. During 2013-14, 46 MTs have been posted in CMPDI
through recruitment and transfer. Similarly, non-executive manpower have been
brought from other subsidiaries and process of addition in manpower is going
on.
Development of
coal based alternate energy sources has become one of the priority area of
operation for CMPDI. Coal Mine Methane project has been successfully demonstrated
by CMPDI at Moonidih project of BCCL. CMPDI has closely pursued the issue
regarding operationalization of CMM with Ministry of Coal and Ministry of
Petroleum and Natural Gas and with the constant pursuit of CMPDI, the matter
got resolved between the two ministries in Aug.’2012 and has paved the way for
taking up commercial development of CMM. CMPDI will take further action after
getting a formal order in this regard for which required collateral activities
have already been taken up. In addition, steps have been taken for commercial
development of UCG in 2 blocks within CIL areas, namely Kaitha (CCL) and
Thesgora-C (WCL) and e-tender for the purpose has been floated in January 2014
and tender and the offers will be received up to 17th April 2014. It will be
first of its kind tender for development of UCG on commercial basis in India
and will facilitate bringing of a new and high end technology in India and
tenders were under finalization at CIL level. Foray in the area of Shale Gas
development has already been made and the data dossier on prospective Shale Gas
blocks in Damodar Valley and Sohagpur Basin have been submitted to DGH.
Satellite
surveillance for land reclamation monitoring of opencast projects of CIL is
being carried out by CMPDI from the year 2008. 50 nos. of Opencast projects/
mines producing 5 million cubic meter and more (coal+OB) and 113 Opencast
mines/ projects producing less than 5 million cubic meter (coal+OB) are
monitored annually and at three year interval, respectively. Land reclamation
monitoring of 82 nos. of opencast projects of CIL based on high resolution satellite data has been completed
during 2013-14. Additionally, Vegetation cover mapping of six coalfields viz.
Jharia, Talcher, Bisrampur, Wardha Valley, Kamptee and Makum coalfield based on
satellite data have been completed for assessing the regional impact of coal
mining on land use / vegetation cover.
Pertaining to the Planning & Design of Coal Handling Plants for
various coal mines of CIL and outside agencies, CMPDI has the expertise for
preparation of Basic Layout of a CHP having facilities of ROM coal receiving,
crushing, storing and rapid loading in to rail wagons for incorporation in the
Project Report, preparation of tender document for turn-key execution of CHPs including
detailed specifications of various P&M used in the CHP and commercial terms
& conditions, tendering, tender evaluation and determination of L-1 bidder
for a CHP on turnkey basis, design/drawing scrutiny nd author’s supervision,
etc. Based on e-tendering done by CMPDI for Block-B CHP (3.5 Mty), work has
been awarded by NCL in August 2013. E-tenders for Nigahi Ph-II and Khadia
Ph-III CHPs have been re-tendered n February 2013 and are under process of
finalization.
Environmental
services rendered by CMPDI to CIL during 2013-14 included preparation of 40
Environment Management Plans (including 26 Form-I). Environmental Monitoring
(air, water and noise) of 301 projects / establishments of CIL were carried out
through nine environmental laboratories located at Asansol, Nagpur, Bilaspur,
Kusmunda, Hasdeo, Jayant, Talcher Ib Valley and Ranchi. In terms of the revised
guidelines issued by Ministry of Coal in 2013, CMPDI has prepared 257 nos. of
mine closure plans for CIL mines during the year.
RFQ (Request for
Qualification) & RFP (Request for Proposal) documents for Development and
Operation of Opencast and underground
mines/projects through Mine
Developer-cum-Operator (MDO) in CIL was prepared. Consultancy wasalso provided
to CIL for preparation of Model Concession Agreement (MCA) for Development and
Operation of Coal mines/ projects on Public-Private-Partnership (PPP) model.
Classification of coal reserves/
resources for
mines/blocks in CIL command area as on 1.4.2013 based on United Nations
Framework Classification (UNFC) was done.
Certifications/recertification of 65 units (including 38 newly certified
units) was achieved for different management system standards, under the
guidance of CMPDI. Certifications for OHSAS 18001 and ISO 17025 were also achieved
for the first time for the Environment Lab of CMPDI. Besides these, two
subsidiaries of CIL viz. MCL & NCL were certified/recertified for a
companywide Integrated Management System (IMS integrating ISO 9001, ISO 14001
& OHSAS 18001). The work of ISO 9001 for Ministry of Coal, Govt. of India
and NABH certification consultancy for Gandhinagar Central Hospital, CCL is in
progress.
MoU with CSIRO, Australia has been signed in June’13 for joint efforts
in mutual interest in mining related fields.
ANNUAL PERFORMANCE OVERVIEW
Geological Exploration & Drilling
CMPDI continued to carry out coal exploration activities in 2013-14
also, mainly in CIL and Non-CIL/Captive Mining blocks. Exploration in CIL
blocks was taken up to cater the needs of project planning/ production support
of subsidiaries of CIL whereas exploration in Non-CIL/Captive Mining blocks was
undertaken to facilitate allotment of coal blocks to prospective entrepreneurs.
CMPDI has
substantially improved the capacity of drilling during XI & XII plan
period. As against the achievement of 2.09 lakh metre in 2007-08, CMPDI has
achieved 4.98 lakh metre in 2011-12, 5.63 lakh meter in 2012-13 and 6.97 lakh
meter in 2013-14 (24% Growth) through departmental resources and outsourcing.
For capacity expansion through modernization of departmental drills, 39 new
Mechanical drills & 4 Hi-Tech Hydrostatic drills have been procured since
2008-09, out of which 10 have been deployed as additional drills and 33 as
replacement drills. CMPDI has also replaced 38 mud pumps and 74 trucks in last
six years.
To meet the
increased work load, recruitment has been taken up through campus interview /
open examination. 201 Geologists, 26 Geophysicists and 20 Mechanical Engineers
for Drilling have joined CMPDI since 2008-09. About 343 non-executive staffs
have also been inducted for exploration work. Out of it 25 Geologists, 2
Geo-physicsts, 5 Mechanical Engineers and 11 nonexecutives have resigned.
Under outsourcing,
the work of 40 blocks involving 14.78 lakh metre of drilling was awarded
through tendering since 2008-09, out of which drilling has been concluded in 18
blocks. Due to local (law & order) problems,work could not start in 2
blocks and stopped in 6 running blocks. Due to non-availability of forest clearance
work was stopped in 7 blocks. Due to lack of forest clearance and adverse law
& order, about 2.14 lakh metre of drilling could not be carried out in
outsourced blocks in 2013-14. In 2013-14, a total of 3.71 lakh metre (30%
Growth) has been drilled through outsourcing, out of which 1.95 lakh metre
through tendering & 1.71 lakh metre through MoU with MECL.
To fulfill the
enhanced requirement of coal core analysis due to increase in drilling, the
capacity expansion of CMPDI & CIMFR labs has been taken up. A MoU between
CMPDI (on behalf of Coal India Ltd.) and CSIR has been signed for capacity
enhancement. The work is under progress.
Drilling Performance in 2013-14:
CMPDI deployed its
departmental resources for exploration of CIL/Non-CIL blocks whereas State
Govts. of MP and Odisha deployed resources in CIL blocks only. Besides, eight
other contractual agencies have also deployed resources for detailed
drilling/exploration in CIL/Non-CIL blocks. A total of 120 to 140 drills were
deployed in 2013-14 out of which 57 were departmental drills. Apart from it,
CMPDI continued the technical supervision of Promotional Exploration work
undertaken by MECL in Coal Sector (CIL & SCCL areas) in 9 blocks and
monitored work of GSI in 11 blocks for Promotional Exploration in Coal Sector
on behalf of MoC.
In 2013-14, CMPDI and its contractual agencies took up exploratory
drilling in 100 blocks/mines of 22 coalfields situated in 5 States. These
coalfields are Raniganj (6 blocks/mines), Barjora (1), Brahmani (1), Rajmahal
(3), Jharia (3 blocks/ mines), W.Bokaro (2)
Ramgarh (2), South Karanpura (5), North Karanpura (7), Kamptee (8),
Nand-Bander (2), Wardha Valley(5), Sohagpur (11), Mand Raigarh (11), Korba (6),
Bisrampur (2), Sonhat (1),
Tatapani-Ramkola- (4), Singrauli (4), Talcher (10) and Ib Valley (6)
.Out of 100 blocks/ mines, 26 were Non-CIL/Captive blocks and 74 CIL
blocks/mines. Departmental drills of CMPDI took up exploratory drilling in 53
blocks/mines whereas contractual agencies drilled in 47 blocks/mines.
Under Promotional (Regional) Exploration Programme, MECL has undertaken
Promotional drilling in 9 coal blocks (Mand Raigarh - 3, Bishrampur - 2,
Singraulli – 2 & Godavari Valley - 2), GSI has undertaken 11 blocks for
Promotional drilling (Raniganj - 2, Talcher - 2, Ib Valley - 2, Sohagpur - 3
& Tatapani Ramakola -2).
GM(Nagaland) & DGM(Assam) has also undertaken 1 block each for
Promotion drilling i.e. Northern Khar
& Karbianglong, respectively in Coal Sector.
CONTINGENT LIABILITY
Claims against the Company not acknowledged as debt
- Income Tax: In respect of completed assessment
pending in appeal Rs. 223.400 Millions (Pr. Yr. Rs. 217.100 Millions)
- Entry Tax : In respect of F/Y 2002-03 pending
before Commissioner of Commercial Tax Rs.
1.700 Millions (Pr. Yr. Rs.
0.17 Millions).
- (i) Service Tax : In respect of completed
assessment Rs. 5.46 Millions (Pr.
Yr. Rs. 5.46 Millions) including
Rs. 50.500 Millions shown as claim
receivable on account of disputed service Tax, interest and penalty for
earlier year. The company has filed Writ Petition before Hon’ble Jharkhand
High Court to set aside Commissioner Central Excise & Service Tax’s
order.
(ii) In respect of observation raised by
Central Excise, Customs & Service Tax Department Bhubaneshwar Rs. 5.800 Millions.
(iii) In respect of demand raised by OSHB,
Bhubaneshwar Rs. 1.600 Millions Rs. 0.49 (for 2003-04) in respect of which
Department has appealed against the original order of CIT which is in favour of
CMPDIL.
- Other disputed claims pending in the courts
and not provided for amount to Rs.
71.100 Millions (Pr. Yr. Rs.
82.000 Millions).
LC opened pending maturity during the period Rs. Nil (Previous year as on 31/03/2013 Rs. Nil ).
Estimated value of contracts remaining to be executed on capital account
and not provided for amounts
to Rs. 185.700 Millions (Pr. Yr.
Rs. 590.000 Millions).
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Tangible Assets
o Land and Building
o Plant and Machinery
o Furniture and fittings
o Office Tools and Equipments
o Vehicle
- Intangible Assets
o Computer Software
o Prospecting
and Boring
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. 61.61 |
|
|
1 |
Rs. 99.11 |
|
Euro |
1 |
Rs. 78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.