MIRA
INFORM REPORT
|
Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LANCO INDUSTRIES LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.11.1991 |
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Com. Reg. No.: |
01-013391 |
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Capital
Investment / Paid-up Capital : |
Rs.397.636
millions |
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CIN No.: [Company Identification
No.] |
L74999AP1991PLC013391 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDL00513C |
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PAN No.: [Permanent Account No.] |
AAACL4108M |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are
Listed on the Stock Exchanges. |
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Line of Business
: |
Subject’s main
business is manufacturing and selling pipes, subject is also manufacturing and
selling Cement and producing Pig Iron and LAM Coke for captive use. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of Investigation
books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
July 15, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
July 15, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
Management Non Co-operative (91-8578-286650)
LOCATIONS
|
Registered Office/ Factory : |
Rachagunneri Village, Srikalahasthi Mandal, Chittoor District – 517 641,
Andhra Pradesh, India |
|
Tel. No.: |
91-8578-286650-55 |
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Fax No.: |
91-8578-286657 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Marketing Head Office : |
No.148/150 (Old No. 98/99), Luz Church Road, Chennai – 600 004,
Tamilnadu, India |
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Tel. No.: |
91-44-24674900 |
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Fax No.: |
91-44-24995229 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Mayank Kejriwal |
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Designation : |
Managing Director |
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Name : |
Mr. G. Maruthi Rao |
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Designation : |
Director |
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Name : |
Mr. Gouri Shankar Rathi |
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Designation : |
Director |
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Date of Birth/Age : |
09.01.1950 |
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Qualification : |
B.Com (Hons.),
FCS, LLB |
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Special Expertise : |
Expertise in
general Administrative management and Marketing. |
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Date of Appointment : |
08.06.2005 |
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Name : |
Mr. S.Y.
Rajagopalan |
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Designation : |
Director |
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Name : |
Mr. R.K. Khanna |
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Designation : |
Director |
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Date of Birth/Age : |
19.10.1952 |
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Qualification : |
Graduate in
Management, Finance, Certificate in Infrastructure and Housing Finance from
USA |
|
Special Expertise : |
Expertise in
Financial Management and Infrastructure development. |
|
Date of Appointment : |
09.02.2013 |
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Directorship in other Public Limited Companies : |
Shivshahi
Punaravasan Prakalp Limited, Mumbai |
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|
|
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Name : |
Mr. L. Madhusudhan Rao |
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Designation : |
Director |
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Date of Birth/Age : |
08.01.1966 |
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Qualification : |
M. Tech. and
M.S. |
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Special Expertise : |
Techno-Economic
Expert |
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Date of Appointment : |
01.11.1991 |
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Name : |
Mr. G. Bhaskara Rao |
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Designation : |
Director |
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Date of Birth/Age : |
01.06.1954 |
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Qualification : |
M.E. |
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Special Expertise : |
Techno-Economic Expert |
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Date of Appointment : |
01.11.1991 |
|
Directorship in other Public Limited Companies : |
·
Aeolipile Engineering and Manufacturing Limited ·
Fourneyron Engineering and Manufacturing Limited ·
Lanco Infratech Limited ·
Lanco Kanpur Highways Limited ·
Lanco Power Limited ·
Lanco Group Limited ·
Lanco Hydro Power Limited ·
Lanco Anpara Power Limited ·
Lanco Babandh Power Limited ·
Lanco Thermal Power Limited ·
Lanco Vidarbha Thermal Power Limited ·
Lanco Tanjore Power Company Limited |
|
|
|
|
Name : |
Mr. L. Sridhar |
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Designation : |
Director |
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Date of Birth/Age : |
14.06.1968 |
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Qualification : |
BE (Civil) and M.S. |
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Special Expertise : |
Expert in
Construction Management |
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Date of Appointment : |
29.05.2003 |
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|
Name : |
Mr. A. Joseph Kumar |
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Designation : |
Director (Nominee of IDBI) |
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|
Name : |
Mr. K. Rajendra Prasad |
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Designation : |
Director (Nominee of APIDC) |
KEY EXECUTIVES
|
Name : |
Mr. Kodandapani |
|
Designation : |
Assistant General Manager |
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|
|
|
Name : |
Mr. G.D. Saini |
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Designation : |
Chief Financial Officer and Company
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
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|
|
|
|
|
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|
20193178 |
50.78 |
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|
20193178 |
50.78 |
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|
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Total
shareholding of Promoter and Promoter Group (A) |
20193178 |
50.78 |
|
(B)
Public Shareholding |
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|
|
|
|
|
|
|
3625 |
0.01 |
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|
24225 |
0.06 |
|
|
244200 |
0.61 |
|
|
9700 |
0.02 |
|
|
281750 |
0.71 |
|
|
|
|
|
|
8467406 |
21.29 |
|
|
|
|
|
|
6094862 |
15.33 |
|
|
3852959 |
9.69 |
|
|
873440 |
2.20 |
|
|
751956 |
1.89 |
|
|
120484 |
0.30 |
|
|
1000 |
0.00 |
|
|
19288667 |
48.51 |
|
Total
Public shareholding (B) |
19570417 |
49.22 |
|
Total
(A)+(B) |
39763595 |
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) |
39763595 |
0.00 |
(1) Indian
Bodies Corporate
Individual shareholders holding nominal
share capital up to Rs.0.100 million
BUSINESS DETAILS
|
Line of Business : |
Subject’s main
business is manufacturing and selling pipes, subject is also manufacturing
and selling Cement and producing Pig Iron and LAM Coke for captive use. |
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Products : |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
China ·
Germany ·
Australia ·
UK ·
USA |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
ICICI Bank Limited ·
HDFC Bank Limited ·
IDBI Bank Limited ·
Standard Chartered Bank ·
Punjab National Bank ·
Bank of India ·
Andhra Bank ·
Yes Bank |
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Facilities : |
Notes: LONG TERM BORROWINGS Terms of
Repayment and rate of interest: Rupee Term Loan
of Rs.187.500 millions is repayable in 6 Quarterly installments of Rs.31.250
millions each and it carries an interest @ 11.82% p.a. payable monthly. Rupee Term Loan
of Rs.112.500 millions repayable in 12 Quarterly installments of Rs.9.375
millions each and it carries an interest @ 13.50% p.a. payable monthly. Rupee Term Loan
of Rs.25.000 millions repayable in 1 Quarterly installments of Rs.25.000 millions
each and it carries an interest @ 11.75% p.a. payable monthly. Foreign Currency
loan of US$ 180 Lakhs (Rs.977.400 millions) is repayable in 15 half yearly
installments of US$ 12 Lakhs starting from 15/09/2013 and carries an interest
at LIBOR plus 4.3% p.a. payable half yearly. Foreign Currency
loan of US$ 100 Lakhs (Rs.543.000 millions) is repayable in 8 half yearly
installments of US$ 5 lakhs on 22/11/2013, US$10 lakhs each on 22/5/2014,
22/11/2014, 22/5/2015, US$ 15 lakhs each on 22/11/2015, 22/5/2016, 22/11/2016
and US$ 20 lakhs on 22/5/2017 and carries an interest at LIBOR plus 3.927%
p.a. payable half yearly. Sales tax Deferment – Rs.6.128 millions in 2014-15
and is interest free. Nature of
security: Rupee term loans
and Foreign Currency loan from Banks are secured by way of first pari-passu
charge on the movable and immovable Fixed Assets of the company both present
and future. SHORT TERM BORROWINGS Nature of
Security and rate of interest Working Capital
facilities availed from banks are secured by hypothecation of raw materials,
semi finished goods and finished goods, consumables, stores and spares, book
debts, both present and future of the company and rank pari-passu among
themselves and the rate of interest ranges from 10% to 12.5% p.a. and are
payable on demand. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
K.R. Bapuji and Company Chartered Accountants |
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Address : |
Hyderabad, Andhra Pradesh, India |
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|
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Solicitors : |
Khaitan and Company |
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Associate Company (As on 31.03.2013) : |
Electrosteel Castings Limited |
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|
|
Enterprise where other directors have significant influence or control
(As on 31.03.2013) : |
Lanco Infratech Limited* |
*Mr. L. Madhusudhana Rao, Mr. L. Sridhar and Mr. G. Bhaskara Rao
directors of the Company are interested in Lanco Infratech Limited.
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39763595 |
Equity Shares |
Rs.10/- each
|
Rs.397.636
millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53000000 |
Equity Shares |
Rs.10/- each |
Rs.530.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39763595 |
Equity Shares |
Rs.10/- each
|
Rs.397.636
millions |
|
|
|
|
|
Reconciliation of Shares outstanding at the beginning and at the end of
the reporting period
|
Particulars |
As at 31st March, 2013 |
|
|
No. of Shares |
Amount (Rs. in
millions) |
|
|
Opening number of Shares Outstanding |
39763595 |
397.636 |
|
Closing number of Shares Outstanding |
39763595 |
397.636 |
Terms/rights
attached to equity shares
The company has
only one class of equity shares having a par value of Rs.10/- per share. Each holder
of equity share is entitled to one vote per share. The dividend proposed by the
Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting.
No dividend has
been recognized as distribution to equity shareholders for the year ended
31.03.2013.
In the event of
liquidation of the company, the holders of equity shares will be entitled to
receive any of the remaining assets of the company, after distribution of all
preferential amounts. The distribution will be in proportion to the number of
equity shares held by the shareholders.
Details of shareholders holding more than 5% shares in the company
|
Particulars |
As at 31st March, 2013 |
|
|
No. of Shares (in Lakhs) |
% holding |
|
|
Equity shares with
voting rights |
|
|
|
Electrosteel Castings Limited |
193.01 |
48.54 |
|
L. Madhusudhan Rao |
22.85 |
5.75 |
|
G. Bhaskara Rao |
22.85 |
5.75 |
|
L. Sridhar |
22.83 |
5.74 |
|
L. Rajagopal |
22.84 |
5.75 |
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 |
397.636 |
397.636 |
397.636 |
|
(b) Reserves & Surplus |
1857.205 |
1540.051 |
1671.012 |
|
(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) |
2254.841 |
1937.687 |
2068.648 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
1746.243 |
1506.558 |
1295.872 |
|
(b) Deferred tax liabilities (Net) |
304.184 |
277.022 |
359.325 |
|
(c) Other long term
liabilities |
494.664 |
740.356 |
531.727 |
|
(d) Long-term
provisions |
29.064 |
14.668 |
11.668 |
|
Total Non-current
Liabilities (3) |
2574.155 |
2538.604 |
2198.592 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2355.734 |
2767.082 |
3211.287 |
|
(b)
Trade payables |
1957.017 |
1047.990 |
1221.020 |
|
(c)
Other current liabilities |
945.162 |
737.274 |
689.252 |
|
(d) Short-term
provisions |
94.572 |
27.420 |
22.306 |
|
Total Current
Liabilities (4) |
5352.485 |
4579.766 |
5143.865 |
|
|
|
|
|
|
TOTAL |
10181.481 |
9056.057 |
9411.105 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4347.003 |
4402.970 |
3100.903 |
|
(ii)
Intangible Assets |
7.542 |
10.768 |
14.018 |
|
(iii)
Capital work-in-progress |
200.423 |
170.164 |
631.389 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
558.622 |
652.020 |
703.201 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5113.590 |
5235.922 |
4449.511 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2367.514 |
2082.610 |
3187.700 |
|
(c)
Trade receivables |
1480.088 |
1194.271 |
1223.719 |
|
(d) Cash
and cash equivalents |
573.502 |
102.062 |
102.400 |
|
(e)
Short-term loans and advances |
265.199 |
138.525 |
207.602 |
|
(f)
Other current assets |
381.588 |
302.667 |
240.173 |
|
Total Current
Assets |
5067.891 |
3820.135 |
4961.594 |
|
|
|
|
|
|
TOTAL |
10181.481 |
9056.057 |
9411.105 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
9893.956 |
8638.893 |
7870.002 |
|
|
|
Other Income |
72.406 |
100.243 |
84.212 |
|
|
|
TOTAL (A) |
9966.362 |
8739.136 |
7954.214 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5443.678 |
5687.104 |
5575.821 |
|
|
|
Purchases of traded goods |
550.370 |
103.837 |
70.566 |
|
|
|
Changes in
inventories of finished goods & work-in-progress |
(144.022) |
86.653 |
(401.645) |
|
|
|
Employee
benefits expense |
443.627 |
379.894 |
360.542 |
|
|
|
Other expenses |
2430.155 |
1868.891 |
1612.066 |
|
|
|
TOTAL (B) |
8723.808 |
8126.379 |
7217.350 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1242.554 |
612.757 |
736.864 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
548.961 |
604.180 |
578.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
693.593 |
8.577 |
158.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
279.428 |
221.842 |
199.933 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
414.165 |
(213.265) |
(41.679) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.162 |
(82.303) |
(2.156) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
387.003 |
(130.962) |
(39.523) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(15.547) |
115.415 |
160.828 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENT – TAXATION |
NA |
0.000 |
(5.890) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
NA |
0.000 |
0.000 |
|
|
|
Proposed Dividend including tax thereon |
NA |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(15.547) |
115.415 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Carbon Credits |
NA |
22.477 |
95.170 |
|
|
|
Compensation Received |
NA |
0.000 |
14.869 |
|
|
TOTAL EARNINGS |
NA |
22.477 |
110.039 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1575.612 |
3288.506 |
|
|
|
Stores & Spares |
NA |
116.436 |
138.237 |
|
|
|
Capital Goods |
NA |
180.437 |
164.744 |
|
|
TOTAL IMPORTS |
NA |
1872.485 |
3591.487 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
9.73 |
(3.29) |
(0.99) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.88 |
(1.50)
|
(0.50)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.19 |
(2.47)
|
(0.53)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.15 |
(2.40)
|
(0.47)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
(0.11)
|
(0.02)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.82 |
2.21
|
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
0.83
|
0.96 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
397.636 |
397.636 |
397.636 |
|
Reserves & Surplus |
1671.012 |
1540.051 |
1857.205 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2068.648 |
1937.687 |
2254.841 |
|
|
|
|
|
|
Long-term borrowings |
1295.872 |
1506.558 |
1746.243 |
|
Short term borrowings |
3211.287 |
2767.082 |
2355.734 |
|
Total borrowings |
4507.159 |
4273.640 |
4101.977 |
|
Debt/Equity ratio |
2.179 |
2.206 |
1.819 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations (net) |
7870.002 |
8638.893 |
9893.956 |
|
|
|
9.770 |
14.528 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations (net) |
7870.002 |
8638.893 |
9893.956 |
|
Profit |
(39.523) |
(130.962) |
387.003 |
|
|
(0.50%) |
(1.52%) |
3.91% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
Yes |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31) Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32) PAN of
Proprietor/Partner/Director, if available |
No |
|
33) Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34) External Agency
Rating, if available |
Yes |
LITIGATION DETAILS:
CASE STATUS
INFORMATION SYSTEM
|
CEA 91 / 2011 |
CEASR 1137 /
2011 |
CASE IS:PENDING |
|
PETITIONER |
|
RESPONDENT |
|
COMMISSIONER OF CUSTOMS |
VS |
LANCO INDUSTRIES LIMITED |
|
PET.ADV. : SATHYARAM (SR SC FOR CB EXCISE) |
|
RESP.ADV. : PRABHAKARA
SASTRY |
|
SUBJECT: CENTRAL EXCISE APPEAL |
|
DISTRICT: HYDERABAD |
|
FILING DATE: 08-04-2011 |
POSTING
STAGE : FOR ADMISSION AND HEARING |
|
|
REG. DATE : 01-06-2011 |
LISTING
DATE : 27-06-2011 |
STATUS : ADMIT |
|
HON'BLE JUDGE(S): |
V.V.S.RAO
|
RAMESH
RANGANATHAN |
|
|
|
|
|
Unsecured Loan |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Sales tax Deferment |
NA |
6.128 |
|
Total
|
NA |
6.128 |
CORPORATE INFORMATION:
The company, incorporated under the Companies Act, 1956, in the year
1991, is engaged in the manufacture and supply of Ductile Iron Pipe as its core
business with its domicile presence in the State of Andhra Pradesh, India. The
company is a leading Public Utility Services company predominantly catering to
the needs of Water Infrastructure Development. The company also produces Low
Ash Metallurgical Coke and Power for captive consumption in its integrated
complex. It also manufactures and supply Pig Iron and Cement, in the process.
The company’s shares are listed on the National Stock Exchange Limited and the
Bombay Stock Exchange Limited and the shares are traded regularly.
CONTINGENT LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2013 (Rs. in Millions) |
|
a) Guarantees given by banks on behalf of
the Company |
103.167 |
|
b) Bills discounted with banks |
798.453 |
|
c) Outstanding Letter of Credits |
-- |
|
d) Various demands raised, which in the opinion of the
management are not tenable and are pending with various forums / authorities
: |
|
|
i) Sales Tax |
136.476 |
|
ii) Excise, Custom Duty and Service Tax |
39.568 |
|
iii) Income Tax |
3.772 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Leasehold Land
·
Factory Building
·
Non Factory Building
·
Plant and Machinery
·
Electrical Installation
·
Office Equipment
·
Furniture
·
Vehicle
Intangible Assets
·
Computer Software
PRESS RELEASE:
NEWS:
LANCO UNIT GRIFFIN GETS NOD FOR AUSTRALIAN COAL FACILITY
July
17, 2013
HYDERABAD: The Environmental Protection Authority of Western Australia has conditionally approved the development of a 15-million tonne coal handling berth at Bunbury Port proposed by Griffin Coal, a unit of Lanco Resources Australia Pty Limited.
Clearing the project with 12 conditions, the environment watchdog said Griffin Coal's proposal to develop a coal storage and loading facility at Berth 14 A at Burnbury Port, (175 kms from Perth) would be open for public comments till July 31 and the Environment Minister would take the final decision, according to a report by the EPA.
Griffin Coal proposes to develop coal storage and loading facilities at the Bunbury Port Inner Harbour. The berth would support the export of coal from Collie Basin, where the mines are located.
Griffin Coal, which was acquired by Lanco for AUD 730 million in March 2011, produced 4 million tonnes of coal last year. A senior official of the Lanco group had earlier said the project has three components -- an operating mine, development of another mine and a port.
The proposal is consistent with the Bunbury Port Authority's Inner Harbour structure plan, which is being assessed separately by the EPA as a strategic proposal, EPA Chairman Paul Vogel said in a statement. The structure plan's objectives are to guide future development and decision-making within the Inner Harbour.
The coal will be supplied from the proposed expansion of the company's operations at Collie Basin. The proposal includes the development of a berth pocket and associated onshore coal storage and export infrastructure. To control dust, the coal will be stored in large sheds and transferred to ships in enclosed conveyors.
Vogel said Griffin Coal modified the proposal in several areas, which would allow it to meet the EPA objectives for several key environmental factors, provided the recommended conditions are implemented.
The EPA decided to assess the Griffin Coal proposal at the level of Public Environmental Review with a six-week public review period due to the potential impact on biodiversity, according to the report.
The area considered for assessment is the waters of the Bunbury Port Inner Harbour, including Koombana Bay, and the marine offshore waters.
The EPA has recommended that the company keep the public informed throughout the dredging program by publishing on a weekly basis the actual extent of the dredge plume. This is in addition to monitoring and evaluating water quality.
"Dredging during the construction phase of the proposal has a low risk of impacting marine environmental quality," Vogel said. However, there will be temporary plumes in the bay from dredging from time to time, he added.
"The proponent (Griffin Coal) has also ensured the presence of marine fauna observers during marine construction activities and committed to undertaking visual boat-based dolphin monitoring following construction," Vogel said.
LANCO UNIT GRIFFIN GETS NOD FOR AUSTRALIAN COAL FACILITY
HYDERABAD: The Environmental Protection
Authority ofWestern Australia has conditionally approved the
development of a 15-million tonne coal handling berth at Bunbury Port proposed
by Griffin Coal, a unit of Lanco Resources
Australia Pty Ltd.
Clearing the project with 12 conditions, the environment watchdog
said Griffin Coal's proposal to develop a coal storage and loading facility at
Berth 14 A at
Griffin Coal proposes to develop coal storage and
loading facilities at the
Griffin Coal, which was acquired by Lanco for
AUD 730 million in March 2011, produced 4 million tonnes of coal last year. A
senior official of the Lanco group had earlier said the project has three
components -- an operating mine, development of another mine and a port.
The proposal is consistent with the Bunbury Port Authority's
The coal will be supplied from the proposed
expansion of the company's operations at Collie Basin. The proposal includes
the development of a berth pocket and associated onshore coal storage and
export infrastructure. To control dust, the coal will be stored in large sheds
and transferred to ships in enclosed conveyors.
Vogel said Griffin Coal modified the proposal in several areas,
which would allow it to meet the EPA objectives for several key environmental
factors, provided the recommended conditions are implemented.
The EPA decided to assess the Griffin Coal proposal at the level of Public
Environmental Review with a six-week public review period due to the potential
impact on biodiversity, according to the report.
The area considered for assessment is the waters
of the Bunbury Port Inner Harbour, including Koombana Bay, and the marine
offshore waters.
The EPA has recommended that the company keep
the public informed throughout the dredging program by publishing on a weekly
basis the actual extent of the dredge plume. This is in addition to monitoring
and evaluating water quality.
"Dredging during the construction phase of
the proposal has a low risk of impacting marine environmental quality,"
Vogel said. However, there will be temporary plumes in the bay from dredging
from time to time, he added.
"The proponent (Griffin Coal) has also
ensured the presence of marine fauna observers during marine construction
activities and committed to undertaking visual boat-based dolphin monitoring following
construction," Vogel said.
LANCO INDUSTRIES UPDATES ON SETTING UP OF MINI CEMENT PLANT
Lanco Industries Limited has informed BSE that: Considering
the present market scenario of Cement in Andhra Pradesh, the proposal for
setting up of Mini Cement Plant of 3,00,000 TPA with Rotary Kiln at an
estimated capital outlay of Rs 1250.000 Millions, as intimated to the Stock
Exchanges vide letter dated November 10, 2012 has been withdrawn. If the
Company considers the project at a later date, the same will be informed.
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.61.10 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
49 |
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.