MIRA
INFORM REPORT
|
Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NMDC LIMITED |
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Registered
Office : |
Khanjhi Bhavan 10 – 3 – 311 / A, Castle Hills, Masab Tank, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
15.11.1958 |
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Com. Reg. No.: |
01-001674 |
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Capital
Investment / Paid-up Capital : |
Rs. 3964.716 Millions |
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CIN No.: [Company Identification
No.] |
L13100AP1958GOI001674 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and exporter of Iron Ore. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1000000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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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 as fair. Business is active. Payments
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 |
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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 |
|
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 PARTED BY (General Details)
|
Name : |
Mr. D.P Dubey |
|
Designation : |
Finance Manager |
|
Contact No.: |
91- 40- 23591401 |
|
Date : |
04.09.2014 |
LOCATIONS
|
Registered Office : |
Khanjhi Bhavan 10 – 3 – 311 / A, Castle Hills, Masab Tank, Hyderabad –
500028, Andhra Pradesh, India |
|
Tel. No. : |
91-40-23538713 |
|
Fax No. : |
91-40-23538711 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
Corporate Office : |
Khanjhi Bhavan 10 – 3 – 311 / A, Castle Hills, Masab Tank, Hyderabad –
500028, Andhra Pradesh, India |
|
Tel. No. |
91-40-23538713-21(9 Lines) |
|
Fax No. : |
91-40-23538711 |
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E-Mail : |
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Factory : |
Plant / Mine Locations: The mines / units of the Company are
located in the following locations: ·
A. Bailadila Iron Ore Mine Kirandul
Complex P.O. Kirandul District:
Dantewada (Chhattisgarh), India ·
B. Bailadila Iron Ore Mine Bacheli
Complex P.O. Bacheli District:
Dantewada (Chattisgarh), India ·
C. Donimalai Iron Ore Mine Donimalai
Township Dist: Bellary - 583 118, Karnataka ,India ·
D. Diamond Mining Project Majhgawan,
Panna - 488 001 (Mp) E. Sponge Iron Unit, Nmdc Limited Siil Campus, Paloncha
- 507 154 Dist. Khammam(A.P.), India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Shri Narendra Kothari |
|
Designation : |
Chairman – Cum - Managing
Director |
|
Address : |
Khanjhi Bhavan, Castle Hills, Masab Tank, Hyderabad – 500028, Andhra
Pradesh, India |
|
Date of Appointment : |
21.04.2014 |
|
|
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|
Name : |
Shri Vinod Kumar Thakral |
|
Designation : |
Director |
|
Address : |
Ministry Of Steel, Udyog Bhawan, New, Delhi -110107,India |
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|
Name : |
Shri Syedain Abbasi |
|
Designation : |
Director |
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Address : |
Joint Secretary, Ministry Of Steel, Udyog Bhavan, New Delhi – 110107,
India |
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|
Name : |
Shri S.J Sibal |
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Designation : |
Director |
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Address : |
B – 79, Sector – 21, Jalvayu Vihar, Noida – 201301, India |
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|
Name : |
Dr. Noor Mohammad |
|
Designation : |
Director |
|
Address : |
24 / 802, East End Apartments, Mayor Vihar I Extension, New Delhi –
110096, India |
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|
|
|
Name : |
Shri Vinal Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
114 – B, Hamilton Court, DLF Phase – IV Gurgaon – 122009, India |
|
|
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|
Name : |
Shri Mahesh Shah |
|
Designation : |
Director |
|
Address : |
1 / 1, Monica Building, 9 – B, Lord Sinha
Road, Kolkata – 700071, India |
|
|
|
|
Name : |
Shri N. K. Nanda |
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Designation : |
Director (Technical) |
|
Address : |
Khanjhi Bhavan, Castle Hills, Masab Tank,
Hyderabad – 500028, Andhra Pradesh, India |
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|
Name : |
Shri S. Thiagarajan |
|
Designation : |
Director (Finance) |
|
Address : |
Khanjhi Bhavan, Castle Hills, Masab Tank,
Hyderabad – 500028, Andhra Pradesh, India |
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|
|
|
Name : |
Shri Subimal Bose |
|
Designation : |
Director (Production) |
|
Address : |
Khanjhi Bhavan, Castle Hills, Masab Tank, Hyderabad
– 500028, Andhra Pradesh, India |
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|
|
|
Name : |
Shri Rabindra Singh |
|
Designation : |
Director (Personnel) |
|
Address : |
Khanjhi Bhavan, Castle Hills, Masab Tank,
Hyderabad – 500028, Andhra Pradesh, India |
|
|
|
|
Name : |
Mr. C. S. Verma |
|
Designation : |
Chairman – Cum - Managing Director (Upto 21.04.2014) |
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|
Name : |
Mr. R.N. Agra |
|
Designation : |
Independent Director (Upto 02.12.2013 ) |
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|
Name : |
Mrs. Perminder Hira Mathur |
|
Designation : |
Independent Director (Upto 02.12.2013 ) |
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|
Name : |
Mr. D. Rath |
|
Designation : |
Independent Director (Upto 02.12.2013 ) |
KEY EXECUTIVES
|
Name : |
Shri Kumar Raghavan |
|
Designation : |
Company Secretary and ED |
|
Address : |
Khanjhi Bhavan, Castle Hills, Masab Tank, Hyderabad – 500028, Andhra
Pradesh, India |
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|
Name : |
Usha Chandrashekar |
|
Designation : |
Chief Vigilance Officer (CVO |
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|
Name : |
Atul Bhatt |
|
Designation : |
Executive Director (BD & CP) |
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|
Name : |
Ganesh Vishwakarma |
|
Designation : |
Executive Director (Steel) |
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|
Name : |
L.N. Mathur |
|
Designation : |
Executive Director (RP & Safety) |
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|
Name : |
C.E. Kindo |
|
Designation : |
Executive Director |
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|
Name : |
Sandeep Tula |
|
Designation : |
Executive Director (P&A) |
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|
Name : |
K.M. Sathees Kumar |
|
Designation : |
Executive Director |
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|
Name : |
Alok Kumar Mehta |
|
Designation : |
General Manager (Proj.) |
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|
Name : |
S.K. Verma |
|
Designation : |
General Manager |
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|
Name : |
G.S.S. Yadav |
|
Designation : |
General Manager (PC) |
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|
Name : |
L.B. Singh |
|
Designation : |
General Manager |
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|
Name : |
Prashant Das |
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Designation : |
General Manager (Technical) |
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|
Name : |
Dr. R.K. Shrivastava |
|
Designation : |
General Manager (Medical Services) |
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|
Name : |
D. Sree Rama Sastry |
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Designation : |
General Manager (Finance) |
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|
Name : |
P.K. Satpathy |
|
Designation : |
General Manager |
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|
Name : |
V.V.S. Sundaram |
|
Designation : |
General Manager (P&A) |
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|
Name : |
G. Mallikarjuna Rao |
|
Designation : |
General Manager |
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|
Name : |
L. Ekka |
|
Designation : |
General Manager (Mining) |
|
Name : |
V.S. Prabhakar |
|
Designation : |
General Manager (Engineering) |
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|
Name : |
Arun Kumar Shukla |
|
Designation : |
General Manager (Env & Coal) |
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|
Name : |
Mr. D.P. Dubey |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of promoters and Promoter Group |
|
|
|
1. Indian |
|
|
|
Central Government / State Government |
3171946300 |
80.00 |
|
Sub Total (A)
(1) |
3171946300 |
80.00 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
1. Institutions |
|
|
|
Mutual Funds / UTI |
10951023 |
0.28 |
|
Financial Institutions / Banks |
100586606 |
2.54 |
|
Insurance Companies |
294045497 |
7.42 |
|
Foreign Institutional Investors |
275947891 |
6.96 |
|
|
|
|
|
Any Other (Specify) |
2480 |
0.00 |
|
Any other |
|
|
|
|
|
|
|
2. Non
Institutions |
|
|
|
Bodies Corporate |
61627077 |
1.56 |
|
Individual shareholders holding nominal share capital up to Rs. 0.100
million |
40352699 |
1.02 |
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 million |
3472030 |
0.09 |
|
Any Other (Specify) |
5123267 |
0.13 |
|
|
|
|
|
Non Residents |
|
|
|
NRI Rep |
2075912 |
0.05 |
|
Trusts |
1863034 |
0.05 |
|
Clearing Members |
1163347 |
0.03 |
|
Employees |
20974 |
0.00 |
|
Sub Total (B)
(2) |
110575073 |
2.79 |
|
(B) = (B) (1) + (B)
(2) |
|
|
|
|
3964504870 |
100.00 |
|
Shares
held by custodians and against which depository receipts have been
issued (C) |
|
|
|
|
|
|
|
Total (A) + (B) +(C) |
3964504870 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of Iron Ore |
|
|
|
|
Products : |
·
Iron Ore ·
Diamond ·
Sponge Iron |
|
|
|
|
Exports : |
|
|
Products : |
Iron ore mine |
|
Countries : |
·
Japan ·
Korea |
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
·
Essar Steels Limited ·
Tata Metaliks Limited |
|
|
|
|
No. of Employees : |
60 (Approximately) |
|
|
|
|
Bankers : |
·
Canara Bank ·
State Bank of India ·
UCO Bank ·
State Bank of Mysore ·
State Bank of Hyderabad |
|
Banking
Relations : |
-- |
|
|
|
|
Statutory
Auditors : |
|
|
Name : |
M/S. Venugopal and Chenoy Chartered Accountants |
|
Address : |
4 -1- 889/ 16 /2, Tilak Road, Hyderabad – 500028, Andhra Pradesh, India |
|
|
|
|
Branch Auditors |
|
|
Name : |
M/s. Brahmayya and Company Chartered Accountants |
|
Address : |
Visakhapatnam, Andhra Pradesh, India |
|
|
|
|
Name
: |
M/s. P.K. Subramaniam
and Company Chartered Accountants |
|
Address : |
Raichur, Karnataka, India |
|
|
|
|
Name : |
M/s. Gopal Gupta and Company Chartered Accountants |
|
Address : |
Allahabad, Uttar Pradesh, India |
|
|
|
|
Cost
Auditors : |
Shri Prasad and Bharathula Associates Chartered Accountants |
|
Address
: |
Hyderabad, Andhra Pradesh |
|
|
|
|
Associates Company : |
·
Romelt – Sail (India) Limited, New Delhi (In The
Process Of Liquidation) ·
Legacy Iron Ore Limited, Perth, Australia ·
International Coal Ventures (Private Limited )
New Delhi ·
Nilachal Ispat Nigam Limited, Bhabaneswar ·
Krishnapatnam Railway Company Limited,
Secunderabad |
|
|
|
|
Subsidiaries Company : |
·
JK Mineral Development Corporation Limited, Jammu ·
NMDC SARL, Madagaskar ·
NMDC – CMDC Limited , Raipur ·
NMDC Power Limited, Hyderabad ·
Jharkhand National Mineral Development
Corporation Limited, Ranchi |
|
|
|
|
Joint Venture Company : |
·
Kopano – NMDC Minerals (Proprietary) Limited,
Johannesburg, South Africa |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000000 |
Equity Shares |
Rs.1/- each |
Rs. 4000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3964716000 |
Equity Shares |
Rs.1/- each |
Rs. 3964.700 Millions |
|
|
|
|
|
Note :
1)
No new shares were issued during the current year. Hence,
there is no change in number of shares outstanding as at the beginning and as
at the end of the reporting period.
2)
Terms/Rights
attached to equity shares: The Company has only one class of equity shares
having par value of Rs.1/- each and each holder of equity shares is entitled to
one vote per share The dividend proposed by the Board of Directors is subject
to the approval of Shareholders in the ensuing Annual General Meeting. In the
event of liquidation of the Company, the holders of equity shares will be
entitled to receive remaining assets of the Company after distribution of all
preferential amounts.
The distribution will
be in proportion to the number of equity shares held by the shareholders.
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 |
3964.700 |
3964.700 |
3964.700 |
|
(b) Reserves & Surplus |
295918.300 |
271144.900 |
240098.900 |
|
(c) Money
received against share warrants |
|
|
|
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
299883.000 |
275109.600 |
244063.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1072.500 |
1044.900 |
1000.900 |
|
(c) Other long term liabilities |
291.100 |
307.800 |
234.100 |
|
(d) long-term provisions |
114.400 |
123.800 |
134.500 |
|
Total Non-current Liabilities (3) |
1478.000 |
1476.500 |
1369.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
|
|
(b) Trade payables |
1856.700 |
1607.600 |
1658.200 |
|
(c) Other current
liabilities |
11532.000 |
11019.600 |
7811.500 |
|
(d) Short-term provisions |
19.500 |
18603.900 |
11581.600 |
|
Total Current Liabilities (4) |
13408.200 |
31231.100 |
21051.300 |
|
|
|
|
|
|
TOTAL |
314769.200 |
307817.200 |
266484.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12915.000 |
11826.000 |
11110.000 |
|
(ii) Intangible Assets |
707.800 |
820.600 |
778.000 |
|
(iii) Capital
work-in-progress |
52768.900 |
32360.900 |
14941.600 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2503.700 |
2496.700 |
2477.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7208.200 |
5462.900 |
5124.300 |
|
(e) Other Non-current assets |
53.700 |
53.700 |
66.100 |
|
Total Non-Current Assets |
76157.300 |
53020.800 |
34497.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
6811.900 |
6374.600 |
4589.200 |
|
(c) Trade receivables |
14484.200 |
10822.100 |
7370.200 |
|
(d) Cash and cash
equivalents |
186572.300 |
210257.500 |
202645.800 |
|
(e) Short-term loans and advances |
23484.700 |
19446.900 |
10476.400 |
|
(f) Other current assets |
7258.800 |
7895.300 |
6905.100 |
|
Total Current Assets |
238611.900 |
254796.400 |
231986.700 |
|
|
|
|
|
|
TOTAL |
314769.200 |
307817.200 |
266484.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
120582.000 |
107042.700 |
112618.900 |
|
|
|
Other Income |
20945.200 |
22388.700 |
20164.900 |
|
|
|
TOTAL |
141527.200 |
129431.400 |
132783.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
265.000 |
309.400 |
240.100 |
|
|
|
Consumption of Stores and
Spares |
3463.100 |
2579.900 |
2325.600 |
|
|
|
Power, Electricity and Water |
609.700 |
576.000 |
501.300 |
|
|
|
Repairs and Maintence |
887.700 |
736.100 |
670.300 |
|
|
|
Selling Expenses |
13474.100 |
8180.000 |
1440.200 |
|
|
|
Royalty and Cess |
9604.300 |
9524.300 |
10226.100 |
|
|
|
Changes In Inventories Of
Finished Goods, Work-In-Progress And Stock-In-Trade |
(142.700) |
(1843.300) |
(227.200) |
|
|
|
Exceptional Items |
(454.800) |
0.000 |
513.000 |
|
|
|
Employees Benefits Expense |
7062.000 |
5799.200 |
5291.000 |
|
|
|
Other Expenses |
7626.600 |
7429.100 |
2889.900 |
|
|
|
TOTAL |
42395.000 |
33290.700 |
23870.300 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
99132.200 |
96140.700 |
108913.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
18.500 |
132.000 |
14.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
99113.700 |
96008.700 |
108898.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1504.100 |
1385.200 |
1301.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
97609.600 |
94623.500 |
107597.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33408.800 |
31199.800 |
34943.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
64200.800 |
63423.700 |
72653.900 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10000.000 |
31050.000 |
51920.000 |
|
|
|
Dividend |
33700.100 |
11894.100 |
7929.400 |
|
|
|
Tax on Dividend |
5727.300 |
1929.500 |
1286.400 |
|
|
Total |
49427.400 |
44873.600 |
61135.800 |
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spares |
360.600 |
98.200 |
358.500 |
|
|
|
Capital Goods |
2205.800 |
1723.500 |
719.600 |
|
|
|
TOTAL
|
2566.400 |
1821.700 |
1078.100 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
16.19 |
15.99 |
18.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
45.36 |
49.00 |
54.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
80.95 |
88.40 |
95.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
37.61 |
34.67 |
43.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.34 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
17.80 |
8.16 |
11.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3964.700 |
3964.700 |
3964.700 |
|
Reserves & Surplus |
240098.900 |
271144.900 |
295918.300 |
|
Net
worth |
244063.600 |
275109.600 |
299883.000 |
|
|
|
|
|
|
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 |
112618.900 |
107042.700 |
120582.000 |
|
|
|
(4.951) |
12.649 |
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 |
112618.900 |
107042.700 |
120582.000 |
|
Profit |
72653.900 |
63423.700 |
64200.800 |
|
|
64.51% |
59.25% |
53.24% |
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 |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
.
LITIGATION DETAILS
|
LITIGATION DETAILS |
|||||||
|
Lodging No. : |
ITTA 449 /2014 |
|
|
|
|
|
|
|
|
|||||||
|
PETITIONER: |
THE COMMISSIONER OF INCOME TAX –IV, |
RESPONDENT:- |
VS M/S NMDC LIMITED |
||||
|
PETN.ADV:- |
PRASAD (SC FOR INCOME TAX) |
RESP.ADV. : |
-- |
||||
|
SUBJECT: |
U/ Sec.143 Assessment |
DISTRICT : |
HYDERABAD |
||||
|
|
|||||||
|
FAILING DATE:- |
01/10/2013 |
POSTING STAGE : |
FOR ADMISSION |
||||
|
REG Date : |
16/07/2014 |
LISTING DATE : |
30-07-2014 STATUS : ------- |
||||
|
|
-- |
||||||
|
HON’BLEJUDGE (S) : HON’BLE THE CHIEF
JUSTICE SANJAY
KUMAR |
|||||||
PERFORMANCE HIGHLIGHTS
During
the year, the Company has recorded turnover of Rs.120580.000 Million, achieved
Profit Before Tax (PBT) of Rs.97590.000 Million (including discontinued operations)
and achieved Profit after Tax (PAT) of Rs.64200.000 Million
The
major performance highlights are summarized as under:
·
The Company has registered highest iron
ore production and sales since inception - Crossed the 300 lakh tonnes milestone in
production and sales parameter for the first time in the FY 2013-14:
§
Achieved Iron Ore Production of 300.25
LT, highest since inception.
§
Achieved Iron Ore Sales of 305.00 LT,
highest since inception.
§
Production of Diamonds also registered
a remarkable growth of 18% at 37,082 carats previous year.
·
Turnover for the year was Rs.
120580.000 Million compared to Rs. 107040.000 Million in the previous financial
year 2012-13 recording an increase of 13%.
·
Profit before tax (PBT) from continuing
operations was Rs.97610.000 Million compared to Rs.94620.000 Million in the
previous financial year 2012-13 recording an increase of 3%.
·
Profit after tax (PAT) was Rs.6420.000
Million compared to Rs.6342.000 Million in the previous financial year 2012-13
recording an increase of 1%.
·
Net worth increased to Rs.299830.000
Million as on 31.03.2014, 9% higher than Rs.27505.000 Million in the previous
financial year 2012-13.
·
The Company has declared Dividend of
Rs.8.50 per share for FY 2013-14 which is highest since its inception.
·
Supply of Iron Ore to domestic
industries recorded 282.03 lakh tonnes as against the previous year supply of
246.72 Million tonnes, recording an increase of 14%. Total exports of Iron Ore
during the year was 22.97 Million tonnes against 16.02 Million tonnes in the
previous financial year 2012-13 recording an increase of 43%.
·
Sponge Iron production during the year
was 29,734 tonnes as against previous year 36,289 tonnes.
·
Diamond production for the year was
37,082 carats as against previous year 31,533 carats.
·
Capital expenditure of Rs.25180.000
Million has been incurred which is once again the highest since inception.
·
Major packages for the 3.0 MTPA Steel
Plant being set up at Nagarnar have been awarded and construction activity is
going on in full swing.
KUMARASWAMY
IRON ORE PROJECT
As an addition to present Donimalai Iron Ore
Mine and augmenting production capacity towards achieving the target of 50 MTPA
in NMDC and 12 MTPA in Karnataka, the construction of Kumaraswamy Iron Ore Mine
with capacity of 7.0 MTPA was taken up with an estimated capital outlay of Rs.
8985.500 Million. MECON is appointed as EPCM consultant. The entire project is
being executed through six packages. Orders are placed for Crushing Plant
Package, Downhill conveyor Package, Electrics and Substation package and
Service Centre facilities packages and the works are in progress. Civil works
are completed for Primary & Secondary Crusher house, Dumper platform, Mine
office Building. Erection & trial runs of Primary & Secondary Crusher
is completed. Civil & Structural works of Downhill conveyor system are
under progress. The project is expected to be complete during the FY 2014-15.
MTPA PELLET PLANT AT DONIMALAI
One of
the main objectives of this project is to prolong the life of Tailing Dam at
Donimalai by usingthe slimes for making pellets. M N Dastur & Co. is
appointed as EPCM consultant. Execution of Project is divided into Six
Packages. The estimated capital expenditure is Rs.572.000 Million. All the
packages are ordered. Major civil works completed. Major Technological
equipment erection is completed and some of the equipment trial runs taken.
Project is scheduled to be completed in FY 2014-15.
MTPA INTEGRATED STEEL PLANT IN CHHATTISGARH
As you
are aware, your Company is setting up a 3.0 MTPA Integrated Steel Plant at
Nagarnar near Jagdalpur, District Bastar, Chhattisgarh at an estimated cost of
Rs.15520.500 Million where the Company is in possession of about 2120 acres of
land for the steel plant, township and for other facilities.
Necessary
statutory clearances including Environmental Clearance from Ministry of
Environment and Forests (MOEF) and the Government of Chhattisgarh have been
obtained. Rail Transport Clearance was received and the Final Detailed Project
Report of Railway siding is also approved by East Coast Railway.
ORE BENEFICIATION AND SLURRY PIPELINE
TRANSPORTATION SYSTEM FROM BAILADILA TO VIZAG
The
Slurry Pipeline Transportation System is intended for transportation of Pellet
Feed Concentrate from Bailadila to Vizag via Jagdalpur along National / State
Highways with a provision of partial off-take at Nagarnar for making Pellets
required for feeding to NMDC's proposed Steel Plant at Nagarnar. For part of
this Project, investment proposal involving 2 MTPA Ore Processing Plant at
Bacheli, 15 MTPA Slurry Pipeline system from Bacheli to Nagarnar and 2 MTPA
Pellet Plant at Nagarnar has been approved by NMDC Board.
Other
pre project activities viz., Detailed Route Survey, Environmental clearance,
Forest clearance, crossing permission from Railways & National Highway
Authorities, MoU with Chhattisgarh State Government for sanction of utilities
(Water and Electrical power) are also taken up and are in progress.
Notification under the Act has been made for RoW and RoU.
BHJ (BANDED HAEMATITE JASPER)
BENEFICIATION
PLANT AT DONIMALAI
The
intent of BHJ Beneficiation Plant at Donimalai is for processing low grade iron
ore (of about 42%Fe) to produce Pellet Feed Concentrate (PFC of about 65% Fe).
The PFC can either be used as a feed material in the upcoming Pellet Plant at
Donimalai or can itself be sold as a product. Approved cost of this Project is
Rs. 134.41 Crores. The implementation of this Project will be taken up after
receipt of Forest Clearance for Change of land use pattern' from MoEF.
PANTHAL MAGNESITE PROJECT
J&K
Mineral Development Corporation Limited (J&KMDC), a subsidiary of NMDC has
decided to set up a 30,000 TPA Dead Burnt Magnesite plant at Panthal, Jammu.
M/s.
Dasturco is EPCM consultant for this project. The Project is planned to be
executed in four major packages. Soil investigation work is completed. Work
order is placed for "Balance Civil Works" package and order for main
technological package is expected to be placed in August 2014.
CONTINGENT
LIABILITIES:
Rs in Millions
|
|
Particulars |
As at 31-MAR-14 |
As at 31-MAR-13 |
|
1.1 |
Claims against the company not acknowledged as debts consisting of: |
|
|
|
a. |
Disputed claims under Property tax, Export tax, Conservancy Tax, Sales tax, Income tax etc. |
8190.000 |
9054.000 |
|
b. |
Claims by contractors under arbitration |
1.600 |
1.600 |
|
c. |
Other claims on company not acknowledged as debts |
703.900 |
588.800 |
|
1.2 |
Contingent liability on bills discounted under LCs |
29.400 |
142.000 |
|
1.3 |
Corporate Guarantee given to Citi Bank, Sydney for the loan given to M/s Legacy Iron Ore Limited (AUD 3 million |
168.100 |
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90259578 |
26/07/1993 * |
22,500,000.00 |
STATE BANK OF HYDERABAD |
MASAB TANK BRANCH, HYDERABAD, Andhra Pradesh - 500 |
- |
|
2 |
90260517 |
08/03/1982 |
6,000,000.00 |
STATE BANK OF HYDERABAD |
KOTHAGUDAM, KHAMMAM, Andhra Pradesh, INDIA |
- |
|
3 |
90260513 |
06/02/1995 * |
6,000,000.00 |
STATE BANK OF HYDERABAD |
KOTHAGUDAM BRANCH, KHAMMAM, Andhra Pradesh, INDIA |
- |
|
4 |
90259387 |
13/01/2004 * |
6,000,000.00 |
STATE BANK OF HYDERABAD |
O. BRANCH, SOMAJUGUDA, HYDERABAD, Andhra Pradesh, |
- |
PRESS RELEASE
NMDC MAY SPEND RS 2.3KCR TO UP IRON ORE SUPPLY IN C'GARH
It is expected that the mine can generate 7 million tonnes per annum
over a period of time, sources indicated.
State-owned miner NMDC Limited may spend nearly Rs 23.000 Million to increase
iron ore production from its Bailadila mines in Chhattisgarh by about 9 million
tonnes per annum, according to official sources. The miner has already
approached the Ministry of Environment and Forests for necessary clearances for
mining activity, the sources said. "The proposal has already been
submitted to the MoEF for enhancement of production of iron ore from Deposit
no.4. The estimated capital cost of the project will be Rs 18997.400
Million," sources said. It is expected that the mine can generate 7
million tonnes per annum over a period of time, sources indicated. The mine is
basically to cater to the iron ore requirement of upcoming 3-million tonnes
integrated steel plant being set up by NMDC at Bastar and also other steel
industries in Chhattisgarh, sources said. "Another proposal is to expand
the capacity of existing mine (Deposit No.10) from 4.2 million tonnes to 6
million tonnes with an investment outlay of Rs 385.000 Million," they
further said adding that the life of mine will be about 37 years with a production
rate of 6 million tonnes. The investments will be made on the mines as and when
required, sources explained. The Bailadila iron ore range is estimated to
contain 1,200 million tonnes of high grade iron ore distributed in 14 deposits.
NMDC is presently producing about 20 million tonnes of iron ore from its
Bailadila sector mines and 10 million tonnes from Donimalai sector mines in
Karnataka. NMDC has set a target of achieving 50 million tonnes production of
iron ore by 2016-17. The PSU produced 30.2 tonnes during 2013-14 against 27.18
tonnes in 2012-13. It also expects its 3 million tonnes per annum capacity
Nagarnar steel plant in Chhattisgarh to be commissioned by 2015-16. All the
major packages of the project have been awarded, a senior official of the
company had earlier said. NMDC stock price On September 19, 2014, NMDC closed
at Rs 174.30, down Rs 1.2, or 0.68 percent. The 52-week high of the share was
Rs 196.15 and the 52-week low was Rs 117.50. The company's trailing 12-month
(TTM) EPS was at Rs 17.06 per share as per the quarter ended June 2014. The
stock's price-to-earnings (P/E) ratio was 10.22. The latest book value of the
company is Rs 75.64 per share. At current value, the price-to-book value of the
company is 2.30.
STATEMENT OF UNAUDITED FINANCIAL RESULTS FO RTHE QUARTER ENDED
30.06.2014
|
Particulars |
UNAUDITED THREE MONTHS ENDED 30.06.2014 |
|
(a) Net Sales/ Income from
operation |
34745.000 |
|
(b) Other Operating Income |
22.300 |
|
Total Income |
34767.300 |
|
2. Expenditure |
|
|
a. Increase(-) /Decrease(+) in Stock in trade and W.I.P. |
|
|
b. Consumption of Raw-Materials |
61.500 |
|
c. Consumption of Stores and Spares |
562.900 |
|
d. Change in inventories of finished goods |
503.900 |
|
e. Employees Cost |
1808.000 |
|
f. Selling Expenses |
2714.900 |
|
e. Depreciation |
3309.600 |
|
g. Royalty Cess |
400.200 |
|
f. Other Expenditure |
1785.300 |
|
g. Total |
11146.300 |
|
3. Profit(+)/ Loss(-) from Operations before other Income Interest and
Exceptional Item(1-2) |
2362.100 |
|
4. Other Income-Foreign Exchange Fluctuation-Gain/(Loss) |
5418.200 |
|
5. Profit(+)/ Loss(-) before Interest and Exceptional Item |
29039.200 |
|
6. Interest |
-- |
|
7. Profit(+)/ Loss(-) after Interest but before Exceptional Item (5-6) |
29039.200 |
|
8. Exceptional Items |
-- |
|
9. Profit(+)/
Loss (-) from ordinary activities
before Tax (7-8) |
29039.200 |
|
10. Tax Expenses |
9889.100 |
|
11. Net Profit(+)/ Loss (-) from ordinary activities after Tax (9-10) |
19150.100 |
|
12. Extraordinary Items |
-- |
|
13. Net Profit (+)/ Loss(-) for the period (11-12) |
19150.100 |
|
14. Paid Up Equity Share Capital (Face Value of Rs.10 Per Share) |
|
|
15. Reserves excluding Revaluation Reserves as per Balance Sheet of
Previous Accounting Year |
-- |
|
16. Earning per Share (EPS) |
4.83 |
|
a) Basic and diluted EPS before extraordinary items for the period, for
the year to date and for the previous year (not annualised) |
-- |
|
b) Basic and diluted EPS after extraordinary items for the period, for
the year to date and for the previous year (not annualised) |
-- |
|
17. Public Shareholding |
|
|
Number of Shares |
792769700 |
|
% of Share holding |
20.00 |
|
18. Promoters and promoter group Shareholding |
|
|
a) Pledged/Encumbered |
|
|
- Number of shares |
-- |
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter
group) |
-- |
|
- Percentage of shares (as a
% of the total share capital of the
company) |
-- |
|
b) Non-encumbered |
|
|
- Number of shares |
3171946300 |
|
- Percentage of shares (as a % of the total
shareholding of promoter and
promoter group) |
100.00 |
|
- Percentage of shares (as a
% of the total share capital of the
company) |
80.00 |
NOTE :
1. The financial results have been reviewed by the Audit Committee at its meeting held on August 11, 2014 and approved by the Board of Directors at its meeting held on August 12, 2014.
2. The company adopted Schedule II depreciation rates as per Companies Act, 2013 with effect from April 01, 2014. Consequently, the depreciation effect on the opening value of the assets to the extent of Rs. 136.500 Million has been adjusted against Reserves and Surplus and that of first quarter of Rs. 486.000 Million is charged to the current period.
3. As per Honorable Supreme Court direction, Monitoring Committee has to pay interest @ 8% per annum on 80% of the sales proceeds for the period between the receipt of sales proceeds & release of the payment to the company. Accordingly an amount Rs. 597.400 Million is shown as interest receivable from monitoring committee during this quarter.
4. Figures for the previous period have been regrouped wherever considered necessary so as to conform to the classification of the current period.
5. The financial results have been reviewed by the Statutory Auditors as required under clause 41 of the listing agreement.
FIXED ASSETS
Tangible Assets:
·
Building
·
Plant and Machinery
·
Heavy Mobile Equipment
·
Furniture and Fittings
·
Vehicles
·
Office Equipment
·
Railway Sidings
·
Locomotives
·
Electrical Installations
·
Sanitary and Water Supply
Installations
Intangible Assets
·
Computer Software
·
Mining Rights
·
Goodwill on Amalgamation
of SILL
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 records 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] 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.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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 |
|
756-70 |
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.