MIRA
INFORM REPORT
|
Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRO STEEL CASTINGS LIMITED |
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Registered
Office : |
Rathod Colony, Rajgangpur, Sundergarh – 700017, Orissa |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.11.1955 |
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Com. Reg. No.: |
000310 |
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Capital Investment
/ Paid-up Capital : |
Rs. 343.817 Millions |
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CIN No.: [Company Identification
No.] |
L27310OR1955PLC000310 |
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TIN No. : |
08051764761V |
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PAN No.: [Permanent Account No.] |
AAACP4709N |
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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 ductile iron pipes, fittings and cast iron pipes etc. |
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No. of Employees
: |
1700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 |
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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 Ratings |
|
Rating |
Long term bank facilities “AA-” |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
December 04, 2013 |
|
Rating Agency Name |
Care Ratings |
|
Rating |
Short term bank facilities “A1+” |
|
Rating Explanation |
Very Strong degree of safety and lowest
credit risk |
|
Date |
December 04, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Nilesh Daga |
|
Designation : |
Finance Head |
|
Contact No.: |
91-33-22839990 |
|
Date : |
24.09.2014 |
LOCATIONS
|
Registered Office : |
Rathod Colony, Rajgangpur, Sundergarh – 770017, Orissa, India |
|
Tel. No.: |
91-6622-207008/ 9/ 287047 |
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Mobile No.: |
91-6622-481803 |
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E-Mail : |
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Website : |
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Corporate and Head Office : |
19, Camac Street, Kolkata – 700017, West Bengal, India |
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Factory 1 : |
30, B.T. Road, Sukchar, Khardah, 24-Paraganas (North) – 743179, West
Bengal, India |
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Factory 2 : |
Gummodipoondi Taluk, P.O. Elavur, District. Chengal, MGR – 601211,
Tamilnadu, India |
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Factory 3 : |
Haldia,Kasberia, P.O. Khanjan Chawk, Haldia, Midnapore (East), West
Bengal India |
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Factory 4 : |
Parbatpur Coal Mine, P.O. Batbinor, District: Bokaro – 827013,
Jharkhand India |
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Branch Office 1 : |
148/150 (Old No.98/99), Luz Church Road,
Luz Church Road, Chennai – 600004, Tamilnadu, India |
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Branch Office 2 : |
B-47, Shiv Mahal Cannught Place, New Delhi – 110001, India |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. P.K. Khaitan |
|
Designation : |
Chairman |
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Name : |
Mr. Umang Kejriwal |
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Designation : |
Managing Director |
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Qualification : |
B.Com. (Hons.) |
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Date of Appointment : |
16.02.1975 |
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Name : |
Mr. B. Khaitan |
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Designation : |
Director |
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Name : |
Mr. Naresh Chnadra |
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Designation : |
Director |
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Name : |
Mr. Jamshed J. Irani |
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Designation : |
Director |
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Name : |
Mr. M.B.N. Rao |
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Designation : |
Director |
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Name : |
Mr. S.Y. Rajagopalan |
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Designation : |
Director |
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Name : |
Mr. Uddhav Kejriwal |
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Designation : |
Whole Time Director |
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|
Name : |
Mr. V.M. Ralli |
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Designation : |
Whole Time Director |
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Name : |
Mr. M.K. Jalan |
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Designation : |
Whole Time Director |
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Name : |
Mr. R.S. Singh |
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Designation : |
Whole Time Director |
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Name : |
Mr. Mayank Kejriwal |
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Designation : |
Joint Managing Director |
KEY EXECUTIVES
|
Name : |
Mr. A. K. Kanodia |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category
of Shareholder |
Total
No. of Shares |
Percentage
of Shareholding |
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|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
40945003 |
11.56 |
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|
148274369 |
41.86 |
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|
189219372 |
53.42 |
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|
|
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Total shareholding of Promoter and Promoter Group (A) |
189219372 |
53.42 |
|
(B) Public Shareholding |
|
|
|
|
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|
3000200 |
0.85 |
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|
1182578 |
0.33 |
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|
24334235 |
6.87 |
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|
13889404 |
3.92 |
|
|
42406417 |
11.97 |
|
|
|
|
|
|
23646091 |
6.68 |
|
|
|
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|
60781926 |
17.16 |
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|
8079076 |
2.28 |
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|
30052440 |
8.48 |
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|
27480414 |
7.76 |
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|
100810 |
0.03 |
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|
718900 |
0.20 |
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|
1752316 |
0.49 |
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|
122559533 |
34.60 |
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Total Public shareholding (B) |
164965950 |
46.58 |
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Total (A)+(B) |
354185322 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
2770000 |
0.00 |
|
|
2770000 |
0.00 |
|
Total (A)+(B)+(C) |
356955322 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter
of ductile iron pipes, fittings and cast iron pipes etc. |
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Products : |
· Ductile Iron Pipes · Ductile Iron Fittings |
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Exports : |
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Products : |
· Ductile Iron Pipes · Ductile Iron Fittings |
|
Countries : |
·
Middle East ·
Europe ·
USA ·
UK |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Europe ·
Taiwan ·
Australia |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
GENERAL INFORMATION
|
No. of Employees : |
1700 (Approximately) |
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Bankers : |
· HSBC Limited · State Bank of India · Punjab National Bank · Standard Chartered Bank · ICICI Bank Limited · IDBI Bank Limited · HDFC Bank Limited · Bank of India · IndusInd Bank limited · ING Vysya Bank Limited · DBS Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Lodha and Company, Chartered Accountant |
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Address : |
14, Government Place East, Kolkata-700 069, West Bengal, India |
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Tel. No.: |
91-33-22481507 / 7102 / 6962 / 1111 |
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E-Mail : |
91-33-22486960 / 4572 |
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Solicitors: |
Khaitan and Company |
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Associates Company: (As on 31.03.2013) |
·
Lanco
Industries Limited ·
Electrosteel
Steels Limited ·
Electrosteel
Thermal Power Limited |
|
Subsidiary Company: (As on 31.03.2013) |
·
Electrosteel
Europe SA ·
Electrosteel
Algerie SPA ·
Electrosteel
Castings (UK) Limited ·
Electrosteel
USA LLC ·
WaterFab,
LLC ·
Mahadev
Vyapaar Private Limited ·
Electrosteel
Trading S.A, Spain ·
Singardo
International Pte Limited ·
Electrosteel
Castings Gulf FZE ·
Electrosteel
Doha for Trading LLC ·
Electrosteel
Brasil Ltda. Tubos e Conexoes Duteis |
|
Joint Venture Company: (as on 31.03.2013) |
·
North
Dhadhu Mining Company Private Limited ·
Domco
Private Limited |
|
Enterprises: (As on 31.03.2013) |
·
Global
Exports Limited ·
G.K. and
Sons Private Limited ·
Badrinath
Industries Limited ·
Akshay
Ispat and Ferro Alloys Private Limited ·
Electrocast
Sales India Limited ·
Tulsi
Highrise Private Limited ·
Wilcox
Merchants Private Limited ·
Murari Investment
and Trading Company Limited ·
Electrosteel
Thermal coal Limited |
CAPITAL STRUCTURE
As on: 31.03.14
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs.343.817 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.1/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
326752705 |
Equity Shares |
Rs.1/- each |
Rs.326.753
Millions |
|
|
|
|
|
NOTE:
1. The company has only one class of shares referred to as equity shares
having a par value of Re.1/- each holder of equity shares is entitled to one vote
per share. In the event of liquidation, the equity shareholders are eligible to
receive the remaining assets of the company, after distribution of all
preferential amount, in proportion of their shareholding.
2. The dividend proposed by the board of directors is subject to the
approval of the shareholders in the ensuing annual general meeting.
3. During the year ended 31 March 2013, the amount of per share dividend
recognized as distribution to equity shareholders was Re.0.50
4. Reconciliation of the number of shares outstanding.
|
Particular |
31.03.2013 |
|
Number of shares at the beginning |
326752705 |
|
Number of shares at the end |
326752705 |
Shareholders holding more than 5% shares
|
Name of Shareholders |
31.03.2013 |
|
Murari Investment and Trading Company |
30053080 |
|
G.K. and Sons Private Limited |
23763602 |
|
G.K. Investment Limited |
21739560 |
|
Uttam Commercial Company Limited |
18590570 |
|
Electrocast Sales India Limited |
16931750 |
|
Stemcor Metals Limited |
19243836 |
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 |
343.817 |
326.753 |
326.753 |
|
(b) Reserves & Surplus |
24128.622 |
23217.694 |
16703.491 |
|
(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) |
24472.439 |
23544.447 |
17030.244 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15154.774 |
12062.222 |
8568.264 |
|
(b) Deferred tax liabilities (Net) |
351.490 |
339.792 |
208.061 |
|
(c) Other long term liabilities |
49.967 |
102.549 |
41.240 |
|
(d) long-term provisions |
150.560 |
105.633 |
101.787 |
|
Total Non-current Liabilities (3) |
15706.791 |
12610.196 |
8919.352 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6864.968 |
8566.793 |
6754.544 |
|
(b) Trade payables |
3047.360 |
1444.259 |
3393.304 |
|
(c) Other current
liabilities |
3425.601 |
3020.350 |
3476.187 |
|
(d) Short-term provisions |
562.701 |
673.539 |
1139.867 |
|
Total Current Liabilities (4) |
13900.630 |
13704.941 |
14763.902 |
|
|
|
|
|
|
TOTAL |
54079.860 |
49859.584 |
40713.498 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
23054.452 |
10936.626 |
5537.047 |
|
(ii) Intangible Assets |
0.000 |
8.415 |
17.718 |
|
(iii) Capital
work-in-progress |
0.000 |
9860.930 |
6558.132 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10323.763 |
10284.052 |
8656.527 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2886.618 |
835.449 |
733.942 |
|
(e) Other Non-current assets |
127.932 |
139.636 |
111.635 |
|
Total Non-Current Assets |
36392.765 |
32065.108 |
21615.001 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
675.835 |
1141.912 |
2530.685 |
|
(b) Inventories |
5567.953 |
4517.359 |
5529.432 |
|
(c) Trade receivables |
6168.581 |
6566.132 |
6192.021 |
|
(d) Cash and cash
equivalents |
2288.436 |
3204.354 |
1564.692 |
|
(e) Short-term loans and
advances |
1923.545 |
1453.082 |
2287.398 |
|
(f) Other current assets |
1062.745 |
911.637 |
994.269 |
|
Total Current Assets |
17687.095 |
17794.476 |
19098.497 |
|
|
|
|
|
|
TOTAL |
54079.860 |
49859.584 |
40713.498 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21868.793 |
19345.473 |
19166.615 |
|
|
|
Other Income |
197.010 |
950.528 |
707.724 |
|
|
|
TOTAL (A) |
22065.803 |
20296.001 |
19874.339 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
9473.202 |
9664.694 |
9541.981 |
|
|
|
Purchases of Stock-in-Trade |
1825.730 |
484.129 |
973.367 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(296.384) |
91.504 |
(46.862) |
|
|
|
Employees benefits expense |
1487.605 |
1374.904 |
1230.923 |
|
|
|
Other expenses |
3444.823 |
5827.677 |
6399.992 |
|
|
|
Power and fuel |
1581.526 |
0.000 |
0.000 |
|
|
|
Stores and spares |
1301.762 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
18818.264 |
17442.908 |
18099.401 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)
(C) |
3247.539 |
2853.093 |
1774.938 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1358.196 |
1112.418 |
1006.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1889.343 |
1740.675 |
768.459 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
529.671 |
530.868 |
542.603 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1359.672 |
1209.807 |
225.856 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
354.088 |
237.536 |
(197.972) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1005.584 |
972.271 |
423.828 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
8486.331 |
7523.989 |
|
|
|
Commission Earnings and Others |
NA |
21.948 |
0.000 |
|
|
|
Other Earnings |
|
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
8508.279 |
7523.989 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
2457.920 |
4400.684 |
|
|
|
Stores & Spares |
NA |
292.362 |
294.258 |
|
|
|
Capital Goods |
|
171.841 |
403.352 |
|
|
TOTAL IMPORTS |
NA |
2922.123 |
5098.294 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.02 |
2.98 |
1.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.56 |
5.96 |
1.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.22 |
6.25 |
1.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.11 |
4.07 |
0.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.05 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.90 |
0.88 |
0.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.30 |
1.29 |
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 |
326.753 |
326.753 |
343.817 |
|
Reserves & Surplus |
16703.491 |
23217.694 |
24128.622 |
|
Net
worth |
17030.244 |
23544.447 |
24472.439 |
|
|
|
|
|
|
long-term borrowings |
8568.264 |
12062.222 |
15154.774 |
|
Short term borrowings |
6754.544 |
8566.793 |
6864.968 |
|
Total
borrowings |
15322.808 |
20629.015 |
22019.742 |
|
Debt/Equity
ratio |
0.900 |
0.876 |
0.900 |
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 |
19166.615 |
19345.473 |
21868.793 |
|
|
|
0.933 |
13.043 |
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 |
19166.615 |
19345.473 |
21868.793 |
|
Profit |
225.856 |
1209.807 |
1005.584 |
|
|
1.18% |
6.25% |
4.60% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
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 |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10456029 |
09/10/2013 * |
1,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B88351754 |
|
2 |
10437896 |
28/06/2013 |
2,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, 2ND FLOOR, RELIANCE
HOUSE, 34, JAWAHAR LAL NEHRU ROAD, KOLKATA, |
B80068216 |
|
3 |
10436689 |
26/06/2013 |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79549069 |
|
4 |
10413738 |
25/03/2013 |
2,000,000,000.00 |
IDBI BANK LIMITED |
44, SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700017, INDIA |
B71426845 |
|
5 |
10413155 |
21/03/2013 |
750,000,000.00 |
INDUSIND BANK LIMITED |
SAVITRI TOWERS, 3A UPPER WOOD STREET, KOLKATA, WEST BENGAL - 700017, INDIA |
B71246763 |
|
6 |
10415104 |
20/03/2013 |
12,500,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 44, PARK STREET, KOLKATA, |
B71869630 |
|
7 |
10375308 |
23/12/2013 * |
260,000,000.00 |
ING VYSYA BANK LIMITED |
4/1,MIDDLETON STREET, SIKKIM HOUSE, KOLKATA, WEST BENGAL - 700071, INDIA |
B94942091 |
|
8 |
10364308 |
11/07/2012 * |
1,200,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B43669365 |
|
9 |
10355942 |
04/03/2014 * |
700,000,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURSE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C00374926 |
|
10 |
10323593 |
23/11/2011 |
5,000,000,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
VISHWAKARMA,86C,TOPSIA ROAD (SOUTH), KOLKATA, WEST BENGAL - 700046, INDIA |
B28031755 |
* Date of charge modification
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
|
|
|
|
Indian Currency |
|
500.000 |
|
Foreign Currency |
|
1219.707 |
|
From a related party |
NA |
8.371 |
|
Commercial Paper |
|
150.000 |
|
|
|
|
|
Total |
NA |
1878.078 |
FIXED ASSETS:
TANGIBLE ASSETS:
·
Land – Freehold
·
Land – Leasehold
·
Buildings
·
Railway Siding
·
Plant and Equipments
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Livestock
INTANGIBLE ASSETS:
·
Computer Software
·
Mining Rights
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.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
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 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
60 |
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.