MIRA INFORM REPORT

 

 

Report No. :

318206

Report Date :

18.04.2015

 

IDENTIFICATION DETAILS

 

Name :

OCL INDIA LIMITED (w.e.f. 23.01.1996)

 

 

Formerly Known As :

ORISSA CEMENT LIMITED

 

 

Registered Office :

AT/PO – Rajgangpur, Sundargarh – 770017, Orissa

Tel No.:

91-6624-221212

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.10.1949

 

 

Com. Reg. No.:

15-000185

 

 

Capital Investment / Paid-up Capital :

Rs.113.850 Million

 

 

CIN No.:

[Company Identification No.]

L26942OR1949PLC000185

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALO00890B

 

 

PAN No.:

[Permanent Account No.]

AAACP1354J

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchange.

 

 

Line of Business :

Manufactures and Sells of Cement and Refractory Products.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (67)

 

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a part of “Dalmia Group”. It is a well-established company having fine track record.

 

The company possesses a sound financial profile marked by healthy networth base along with strong liquidity position reflected by the huge liquid surplus adequate gearing as well as acceptable capital structure and coverage indicators.

 

Management has witnessed a decent sales volume, whereas reported a declined in net profitability following higher selling expenses and overheads, which significantly increase in FY 14 on account of the new grinding unit in West Bengal.

 

The ratings also take into consideration the exposure of margins to cyclicality in the cement industry and fluctuating trends of raw materials and other inputs along with the impact of cyclone phaillin and resultant floods in Orissa which may have affected the business profile, further exposing it to the geographical concentration risk.

 

However, trade relations seem to be fair. Business is active. Payment terms are reported as regular and as per commitments.

 

In view of long standing presence and experienced promoters, the company can be considered for good 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

NCD Programme : AA

Rating Explanation

Highest degree of safety and lowest credit risk.

Date

30.01.2015

 

 

Rating Agency Name

ICRA

Rating

Short term loans : A1+

Rating Explanation

Very strong degree of safety and lowest credit risk.

Date

30.01.2015

 

 

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 DECLINED 

 

MANAGEMENT NON-COOPERATIVE (91-6624-221212)

 

LOCATIONS

 

Registered Office/ Cement and Refractory Works :

AT/PO - Rajgangpur, Sundargarh District – 770 017, Orissa, India

Tel. No.:

91-6624 221212/ 24220121 (4 Lines)

Fax No.:

91-6624 220133/ 24220933

E-Mail :

oclrpg@cal.vsnl.net.in

skjain@oclindia.com

sunilkumar@oclindia.com

ocl_rajgangpur@ocl.in

Website :

http://www.oclindia.com

http://www.ocl.in

 

 

Kapilas Cement Works:

Cuttack-753004, Orissa, India

 

 

Branch Office :

17th, Floor, Narain Manzil, 23 Barakhamba Road, New Delhi-110001, India

 

 

Kolkata Office:

Stephen House, 4, B. B. D. Bagh (East), Kolkata - 700 001, West Bengal, India

Tel. No.:

91-033-2231-4440/2248-6087

Fax No.:

9-033-2230-0393

E-Mail :

calcutta_marketing@ocl.in

ocl_calcutta@ocl.in

 

 

Bhubaneswar Office:

F-31/A, B.J.B. Nagar, Bhubaneswar - 751 014, Orissa, India

Tel. No.:

91-674-2430117, 2430076

Fax No.:

91-674-2432786

E-Mail :

ocl_bhubaneswar@ocl.in  

 

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Mr. Pradip Kumar Khaitan

Designation :

Chairman

 

 

Name :

Mr. Gaurav Dalmia

Designation :

Managing Director and Executive vice Chairman

 

 

Name :

Mr. D. N. Davar

Designation :

Director

 

 

Name :

Mr. (Dr). S. R. Jain

Designation :

Director

 

 

Name :

Mr. (Dr). Ramesh C. Vaish

Designation :

Director

 

 

Name :

Mr. Puneet Yadu Dalmia

Designation :

Director

 

 

Name :

Mr. V. P. Sood

Designation :

Director

 

 

Name :

Mr. D. D. Atal

Designation :

Whole Time Director and Chief Executive Office

 

 

KEY EXECUTIVES

 

Name :

Mr. M. H. Dalmia

Designation :

Presidents

 

 

Name :

Mr. R. H. Dalmia

Designation :

Presidents

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.12.2014

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

168874

0.30

http://www.bseindia.com/include/images/clear.gifBodies Corporate

27312107

48.00

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

12798564

22.49

http://www.bseindia.com/include/images/clear.gifTrusts

12798564

22.49

http://www.bseindia.com/include/images/clear.gifSub Total

40279545

70.79

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals (Non-Residents Individuals / Foreign Individuals)

2354310

4.14

http://www.bseindia.com/include/images/clear.gifSub Total

2354310

4.14

Total shareholding of Promoter and Promoter Group (A)

42633855

74.93

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

17500

0.03

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

68742

0.12

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

275752

0.48

http://www.bseindia.com/include/images/clear.gifSub Total

361994

0.64

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

5265697

9.25

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

5048574

8.87

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

3234084

5.68

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

356016

0.63

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

160783

0.28

http://www.bseindia.com/include/images/clear.gifForeign Nationals

17080

0.03

http://www.bseindia.com/include/images/clear.gifClearing Members

178153

0.31

http://www.bseindia.com/include/images/clear.gifSub Total

13904371

24.44

Total Public shareholding (B)

14266365

25.07

Total (A)+(B)

56900220

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1)

0

0.00

http://www.bseindia.com/include/images/clear.gif(2)

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

56900220

0.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufactures and Sells of Cement and Refractory Products.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :
  • State Bank of India
  • United Bank of India
  • Punjab National Bank
  • UCO Bank
  • AXIS Bank Limited
  • International Finance Corporation
  • Export-Import Bank of India
  • Yes Bank Limited
  • HSBC Bank

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Redeemable Non-Convertible Debentures

 

 

Syndicate Bank @ 9.40%

0.000

110.000

Life Insurance Corporation of India @ 10.80% (Redeemable

during 2014-15 to 2016-17)

480.000

600.000

Term Loans

From Banks

 

 

State Bank of India #

(Repayable in 32 quarterly installments from Dec, 10)

329.149

425.549

State Bank of India #

(Repayable in 24 quarterly installments from Dec, 12)

497.307

639.308

State Bank of India #

(Repayable in 31 quarterly installments from June, 15)

500.000

130.000

Export Import Bank of India #

(Repayable in 27 quarterly installments from June, 10)

119.130

187.204

Export Import Bank of India (Foreign Currency Loan) #

(Repayable in 27 quarterly installments from June, 10)

167.098

238.229

Axis Bank Limited #

(Repayable in 20 quarterly installments from Mar, 10)

0.000

150.000

United Bank of India $

(Repayable in 24 quarterly installments from Apr, 11)

166.480

250.004

United Bank of India $

(Repayable in 32 quarterly installments from Apr, 11)

484.665

606.245

United Bank of India $

(Repayable in 26 quarterly installments from Sept, 15)

452.884

0.000

Axis Bank Limited #

(Repayable in 30 quarterly installments from Sept, 15)

250.000

0.000

From Others

 

 

International Finance Corporation @

(Repayable in 13 half yearly installments from Oct, 10)

631.386

947.078

International Finance Corporation #

(Repayable in 14 half yearly installments from June, 16)

1209.800

0.000

Short-term borrowings

 

 

Loans repayable on demand

Cash Credits from Banks*

754.779

 

1304.049

Other Loans and advances

Buyer's Credit from Banks $

0.000

1117.546

Total

6042.678

6705.212

 

Note:

 

The debentures are secured by way of first pari passu charge over fixed assets (present and future) of Cement Division of the Company except those to Syndicate Bank are additionaly secured by way of first pari-passu charge on Fixed Assets of Refractory Division of the Company.

 

Secured by First pari passu charge by way of mortgage and hypothecation over all immovable properties and moveable fixed assets of Cement Division, (both present and future) and further secured by second pari pasu charge on all current assets of the Company.

 

$ Secured by First charge on fixed assets of the Cement Division of Company , both present and future to be shared pari passu with the providers of the other debt and existing lenders, further secured by way of second pari pasu charge on current assets of Cement Division.

 

@ Secured by First ranking mortgage and Hypothecation on all immovable & movable, present & future assets related to the Cement Division (excluding Current Assets) to be shared pari passu with other lenders in respect of other debts and existing secured lenders to the Cement Division in respect of the existing debt.

 

*Working capital facilities (fund based & non fund based limits) are secured by first pari passu charge over stocks, stores, raw materials, inventories, work in progress, finished goods and also book debts, bills and moneys receivable of the Company by way of hypothecation. These facilities are further secured by second charge over the fixed assets of the Cement Division of the Company. $ Buyers credit is secured by subservient charges on moveable fixed assets of cement division of the company.

 

 

 

Banking Relations :

 

 

 

Auditors :

 

Name :

V. Sankar Aiyar and Company

Chartered Accountants

Address :

Flat No.: 202, 203 and 301, Satyam Cinema Complex, Ranjit Nagar Community Centre, New Delhi – 110008, India 

Tel No.:

91-11-25702074/ 25702691/ 25704639

Fax No.:

91-11-25705010

Email :

newdelhi@vsa.co.in

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary:
  • OCL Global Limited, Odisha Cement Limited (w.e.f 12.07.2013)

 

 

Step down Subsidiary:
  • OCL China Limited

 

 

Enterprises over which key management personnel are able to exercise significant influence :
  • Hari Machines Limited
  • Dalmia Bharat Seva Trust
  • Dalmia Institute of Scientific and Research (DISIR)
  • Dalton International Limited
  • Dalmia Cement (Bharat) Limited
  • Landmark Property Development Company. Limited
  • Shree Natraj Ceramic and Chemical Industries Limited
  • Astir Properties Private Limited
  • Landmark Landholdings Private Limited
  • Dalmia Bharat Sugar and Industries Limited
  • Dalmia Bharat Limited (Formaly Dalmia Bharat Entrprises Limited)
  • Calcom Cement India Limited
  • Debikay Systems Limited
  • Kiran Resources (Private) Private
  • Dalmia Refractories(Prop : Dalmia Bharat Enterprises Limited)
  • Dalmia Magnesite Corporation(Prop : Dalmia Bharat Sugar and Industries Private

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.100/- each

Rs.10.000 Million

70000000

Equity Shares

Rs.2/- each

Rs.140.000 Million

 

Total

 

 

Rs.150.000 Million

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

63631805

Equity Shares

Rs.2/- each

Rs.127.264 Million

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

56900220

Equity Shares

Rs.2/- each

Rs.113.800 Million

 

Add: Shares Forfeited Account

 

Rs.0.050 Million

 

Total

 

 

Rs.113.850 Million

 

a) Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period

 

Particulars

31.03.2014

No of Shares

(In Lakhs)

Rs. in Million

Ordinary Shares outstanding at the beginning of the year

569.00

113.800

Ordinary Shares outstanding at the beginning of the year

-

-

Ordinary Shares bought back during the year

-

-

Ordinary Shares outstanding at the end of the year

569.00

113.800

 

b) Terms/ rights attached to ordinary shares

 

The Company has issued only one class of ordinary shares having a par value of Rs.2/- per share. Each holder of ordinary shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

 

During the year ended 31st March 2014, the amount of dividend per share recognised for distribution to ordinary shareholders is Rs.4/- (Previous year: Interim Dividend Rs.2.50/- and Final dividend Rs.1.50/- per share).

 

In event of liquidation of the company, the holders of ordinary 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 ordinary shares held by the shareholders.

 

c) Details of shareholders holding more than 5% shares in the Company

 

Name of the Shareholders

31.03.2014

 

No of Shares held

(In Lakhs)

% of Holding

Mridu Hari Dalmia (C/o M H Dalmia Parivar Trust)

12.778

22.46%

Dalmia Cement (Bharat) Limited

27.312

48.00%

Dharti Investments and Holdings Limited

3.477

6.11%

 

d) Aggregate number of bonus shares issued and shares bought back during the period of five years immediately preceding the reporting date: Nil.

 

In respect of shares issued for consideration other than cash, 1,23,52,500/- ordinary shares of Rs.2/- each fully paid up where alloted during the year 2007-08 to the shareholders of erstwhile Dalmia Cement (Meghalaya) Limited pursuant to a scheme of arrangement for merger.

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

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

113.850

113.850

113.850

(b) Reserves & Surplus

10985.293

10272.812

8916.452

(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)

11099.143

10386.662

9030.302

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

5356.765

4325.914

5324.468

(b) Deferred tax liabilities (Net)

1364.104

1295.224

1204.680

(c) Other long term liabilities

328.006

317.999

198.333

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

7048.875

5939.137

6727.481

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

825.112

2464.438

795.694

(b) Trade payables

2127.915

1609.733

1104.229

(c) Other current liabilities

3478.965

2988.803

2512.102

(d) Short-term provisions

310.445

134.703

163.144

Total Current Liabilities (4)

6742.437

7197.677

4575.169

 

 

 

 

TOTAL

24890.455

23523.476

20332.952

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12285.562

10467.262

10625.384

(ii) Intangible Assets

50.583

45.593

10.338

(iii) Capital work-in-progress

1588.312

1363.946

1481.842

(iv) Intangible assets under development

0.000

3.106

3.960

(b) Non-current Investments

621.739

621.239

488.582

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

111.302

384.901

89.955

(e) Other Non-current assets

2.793

2.702

4.599

Total Non-Current Assets

14660.291

12888.749

12704.660

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

2451.313

2651.872

1274.280

(b) Inventories

3187.464

3525.425

2602.517

(c) Trade receivables

2268.239

1749.503

1206.878

(d) Cash and cash equivalents

855.532

1402.458

1328.171

(e) Short-term loans and advances

1414.083

1270.198

1149.016

(f) Other current assets

53.533

35.271

67.430

Total Current Assets

10230.164

10634.727

7628.292

 

 

 

 

TOTAL

24890.455

23523.476

20332.952

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

18555.159

18172.889

14704.350

 

Other Income

365.539

253.140

331.514

 

TOTAL (A)

18920.698

18426.029

15035.864

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

4117.225

4,468.651

4,664.702

 

Purchases of Stock-in-Trade

383.272

773.466

236.781

 

Freight, clearing and Gandling on own Clinker

349.757

265.800

130.707

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

323.726

(1037.117)

443.707

 

Employees benefits expense

1109.588

965.921

760.840

 

Power and Fuel

2844.378

3172.274

2695.562

 

Other expenses

6517.106

5397.882

3698.637

 

TOTAL (B)

15645.052

14006.877

12630.936

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

3275.646

4419.152

2404.928

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

680.738

770.410

749.350

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

2594.908

3648.742

1655.578

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

1264.072

1384.339

1275.807

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

1330.836

2264.403

379.771

 

 

 

 

 

Less

TAX (I)

352.073

700.544

61.670

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-I)   (J)

978.763

1563.859

318.101

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

2043.401

1957.091

1918.617

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

1200.000

1200.000

120.000

 

Transfer to Debenture Redemption Reserve

0.000

12.367

27.365

 

Proposed Dividend

227.601

85.350

113.801

 

Tax on Dividend

38.682

14.505

18.461

 

Interim Dividend

0.000

142.250

0.000

 

Tax on Interim Dividend

0.000

23.077

0.000

 

Balance Carried to the B/S

1555.881

2043.401

1957.091

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Goods exported (F.O.B. Value)

524.843

351.515

412.252

 

Interest receipt

6.379

0.040

0.000

 

Service charges

14.613

13.037

13.326

 

UK Vat refund

0.018

0.023

0.032

 

Sale of Goods on High Seas

0.000

0.797

0.000

 

TOTAL EARNINGS

545.853

365.412

425.610

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

738.191

1725.287

691.456

 

Components and Stores parts

220.907

470.114

86.586

 

Capital Goods

604.291

14.921

18.540

 

TOTAL IMPORTS

1563.389

2210.322

796.582

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

17.20

27.48

5.59

 

QUARTERLY RESULTS

 

Particulars

30.06.2014

1st Quarter

30.09.2014

2nd Quarter

31.12.2014

3rd Quarter

Audited / UnAudited

UnAudited

UnAudited

UnAudited

Net Sales

26,553.300

21,924.800

21,947.500

Total Expenditure

14,001.700

13,832.900

15,429.000

PBIDT (Excl OI)

12,551.600

8,091.900

6,518.500

Other Income

2,816.800

4,297.800

2,951.500

Operating Profit

15,368.400

12,389.700

9,470.000

Interest

857.400

780.700

799.200

Exceptional Items

0.000

0.000

0.000

PBDT

14,511.000

11,609.000

8,670.800

Depreciation

1,647.400

1,940.400

1,772.500

Profit Before Tax

12,863.600

9,668.600

6,898.300

Tax

4,344.900

3,585.300

1,915.500

Provisions and contingencies

0.000

0.000

0.000

Profit After Tax

85,187.000

6,083.300

4,982.800

Extraordinary Items

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

Net Profit

8,518.700

6,083.300

4,982.800

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin


(PAT / Sales)

(%)

5.27

8.61

2.16

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

17.65

24.32

16.36

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.87

10.51

2.07

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.22

0.04

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.56

0.65

0.68

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.52

1.48

1.67

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

113.850

113.850

113.850

Reserves & Surplus

8916.452

10272.812

10985.293

Net worth

9030.302

10386.662

11099.143

 

 

 

 

long-term borrowings

5324.468

4325.914

5356.765

Short term borrowings

795.694

2464.438

825.112

Total borrowings

6120.162

6790.352

6181.877

Debt/Equity ratio

0.678

0.654

0.557

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

14704.350

18172.889

18555.159

 

 

23.589

2.104

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

14704.350

18172.889

18555.159

Profit

318.101

1563.859

978.763

 

2.16%

8.61%

5.27%

 

 

 

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

No

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

--

22]

Litigations that the firm / promoter involved in

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

 

HIGH COURT OF ORISSA


CASE STATUS INFORMATION SYSTEM

 

 

Case Status         :   Pending    

 

Status of          Sales Tax Revision.(STREV)   139        of    2014    

       

STATE OF ODISHA                 Vs.                  M/S.OCL INDIA LTD.

 

Pet's Adv.            :   SR.S.C.(COMMERCIAL TAXES)         

          

Res's Adv.           :       

 

 Last Listed On :     No Date Mentioned     

 

Category             :   OTHERS 

 

Case Status As On:      Thursday, November 27, 2014

 

 

OPERATIONS

 

The operational results of the current year vis a vis the previous year have registered an increase of 2.19% in net sales and decrease of 26% and 28.8% in the operating profits and profit before depreciation and tax, respectively.

For a detailed analysis of the performance of the Company for 2013- 14 reference is invited to the chapter on Management Discussion and Analysis of this report.

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

GLOBAL ECONOMY

 

The year 2013 spelt slow and steady recovery world over. With the global slowdown now showing signs of desertion, the dismal slowdown as per the estimates is going to be over soon. While North America showed positive signs of revival with a 1.9% growth, emerging economies displayed a better performance with a 4.7% growth over FY12. IMF projects global growth at 3.7% in FY 2014, rising to 3.9 % in FY 15. Countries like the United States of America and Japan are expected to grow at 2.2% and 1.7 % respectively, owing to a strong pick up in the second half of 2013. Emerging markets and developing economies are expected to see an increase in growth to 5.1% in FY 14 and to 5.4%in FY15.

 

Indian Economy

 

Being one among the emerging economies, India also experienced a moderate growth during FY13 with a growth rate of 4.4%. However, going forward it is expected to improve given the factors like upheaval in demand, infrastructure growth, fiscal and monetary streamlining of policies and structural reforms. CSO predicts it to be around 4.9% for FY14. Agriculture sector is expected to contribute 3.8% to this growth. The Secondary sector is expected to grow by 0.8% as against a 1.2% last year. Services sector, as has been the trend in the last decade, is again seen as the catalyst to pull the

 

The Secondary sector, comprising of manufacturing, electricity and construction sectors is expected to grow in a manner wherein the electricity gas and water supply sector is expected to go up by 6% over last year. The construction sector is seen growing by 1.7% only against the 1.1% growth last year. This is in tandem with the present slowdown situation at hand. On the other hand, a lot of investment projects are seeing the light of the day due to acceleration in project approvals. However, the growth in investment projects is still not very imminent and has shown a declining trend as seen in the exhibit below.

 

Global Cement Industry overview

 

Cement, being an integral component of every infrastructure today, is in high demand due to focus on infrastructure development, urbanization and increased housing needs. With the upsurge in construction of commercial and residential buildings, there is a shift in demand in favor of the cement manufacturers all over the globe. Cement industry has different demand patterns in developed and emerging markets. Since, the developed world has already matured to a significant level of urbanization; the demand for cement and construction activities is limited there compared to the developing world. The way things are rapidly gaining pace in the developing countries even they are looking for major turnaround in their infrastructure and urbanization processes. Speaking of the geographic segmentation, China commands more than 50% of the global demand as well as production of cement. India is also amongst the top three producers of cement. It is also a major consumer along with China.

 

Cement is subject to complexities of high transportation cost due to its bulky nature. It also faces barriers of entry due to its cost and nature. Given these reasons, multiplied by a fall in domestic demand, big cement manufacturers have been on a buying spreein developing countries. This upsurge of entry of the big players has forced in excessive capacity into the emerging countries leading to fall in prices and increase in fierce competition across the growth through 6.9%. developing countries.

 

Being influenced directly by growth in the infrastructure sector, there is more to expect out of the cement industry in the wake of an increase in investment all across the globe.

 

Indian Cement Industry

 

With an overall installed capacity of Rs.350.000 Million tones, the Indian cement industry is globally competitive. It is comprised of 185 large and 365 small cement manufacturers, mainly. Apart from fulfilling domestic cement requirements, the industry also exports cement and clinker to around 30 countries across the globe. The domestic consumption in the year 2013 alone was Rs.260.000 Million tonnes. The construction sector overall contributes close to 7% to the country’s GDP every year.

 

With the growing urbanization and rise in middle class’ income, there is an anticipated upsurge in cement demand over the coming years. The 12th Five year plan also envisages that the sector would need to raise its capacities to Rs.470.000 Million tonnes by 2017 to fulfill the growing needs of the country. The Indian Government plans to increase investment into infrastructure to US$ 1 trillion during the stated period.

 

OUTLOOK

 

The overall outlook for OCL is quite positive and there is a lot of scope in both its segments, going forward. While the world economy is now recovering well out of the Global turmoil, they can expect the business to go an extra mile in the coming times due to anticipated demand increase in infrastructure, residential and retail sectors apart from other constructions. Both cement and Refractory being highly specialized industries can be expected to have better performance through structured competitive advantages and technologies with the existing capacities at hand with OCL India.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Public Deposits

Others

68.866

42.297

Short-term borrowings

 

 

Public Deposits

 

 

Related Parties

2.675

0.000

Other than Related Parties

67.658

42.843

Total

139.199

85.140

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10477022

11/03/2014 *

2,000,000,000.00

INTERNATIONAL FINANCE CORPORATION

2121, PENNSYLVANIA AVENUE, NW, WASHINGTON DC, WAS
HINGTON DC, - 20433, UNITED STATES OF AMERICA

C00407759

2

10440970

11/03/2014 *

250,000,000.00

UNITED BANK OF INDIA

UNITED TOWER( GROUND FLOOR), NO.11, HEMANTA BASU
SARANI, KOLKATA, WEST BENGAL - 700001, INDIA

C00342261

3

10414992

11/03/2014 *

250,000,000.00

AXIS BANK LIMITED

2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,
NEW DELHI, DELHI - 110001, INDIA

C00353102

4

10412512

11/03/2014 *

500,000,000.00

UNITED BANK OF INDIA

UNITED TOWER( GROUND FLOOR), NO.11, HEMANTA BASU
SARANI, KOLKATA, WEST BENGAL - 700001, INDIA

C00339879

5

10370546

19/07/2012

195,265,000.00

STATE BANK OF INDIA

SME BRANCH, BISRA CHOWK, ROURKELA, ORISSA - 76900
1, INDIA

B45671591

6

10369352

15/02/2013 *

1,500,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR.
ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA -
400018, INDIA

B69189561

7

10355003

09/05/2012

600,000,000.00

AXIS BANK LIMITED

STATESMAN HOUSE, 2ND FLOOR, 148, BARAKHAMBA ROAD,
NEW DELHI, DELHI - 110001, INDIA

B39415948

8

10345331

05/03/2012

400,000,000.00

AXIS BANK LIMITED

STATESMAN HOUSE, 2ND FLOOR, 148, BARAKHAMBA ROAD,
NEW DELHI, DELHI - 110001, INDIA

B36194231

9

10175596

11/03/2014 *

970,000,000.00

UNITED BANK OF INDIA

CORPORATE FINANCE BRANCH, 106-109, ANSAL TOWER, 1
ST FLOOR, 38, NEHRU PLACE, NEW DELHI, DELHI - 1100
19, INDIA

C00604264

10

10153194

22/02/2009

50,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, ROURKELA, BISRA CHOWK, DISTRIC
T: SUNDERGARH, ORISSA, ORISSA - 769001, INDIA

A60104478

 

* Date of charge modification

 

CONTINGENT LIABILITIES

 

Contingent Liability not provided for, in respect of: -

 

Particulars

31.03.2014

 

31.03.2013

 

 

(Rs. In Million)

(i) Claims against the Company not acknowledged as debts

 

 

(a) Disputed liability relating to ESI Contribution on overtime wages and other allowances

5.795

5.595

(b) Disputed liability relating to PF Contribution on certain allowances

7.122

7.122

(c) Disputed liability relating to payment of premium on forest land used for Mining purpose

15.413

15.413

(d) For Pollution Control Board, Orissa

0.886

0.886

(e) Disputed claim for supply of Refractories

15.630

15.630

(f) Disputed liabilities relating to Railway for enhanced Godown rent and over loading penal charges

19.749

17.591

(g) Disputed Sales Tax demand(including interest and penalty)-matter under appeal

66.557

62.900

(h) Disputed Entry Tax demand-matter under appeal

29.328

14.966

(i) Disputed Excise matters

375.638

426.549

(j) Disputed counterclaim in Arbitration matter

30.216

0.000

(k) disputed liabilities relating to purchases of electricity

834.976

35.892

(I) Others

22.215

36.304

(ii) Other monies for which the Company is contingently liable :

 

 

(a) Disputed liability relating to labour matters-pending in Courts

0.457

0.457

(b) Disputed liability relating to Land matters-pending in Courts

3.951

3.951

(c) Others

7.850

7.850

(iii) Disputed liability in respect of Income Tax demands

21.303

30.288

In respect of items above, future cash outflows in respect of contingent liabilities are determinable only on receipt of judgments / decisions pending at various forums / authorities.

 

 

(iv) (a) Security provided to bank in respect of loan granted upto USD 3.50 mn. (USD 0.839 Million) (PY USD 1.256 Million) to OCL Global Limited, a Subsidiary, (w.e.f 01.01.2013)

- first pari passu charge on current assets of the company and further secured by second pari passu charge on fixed assets, of cement division of the company, loan outstanding amount as on the balance sheet date

49.821

68.913

(b) Guarantee given to Banks on behalf of OCL China Limited (USD 2.948 Million) (PY USD 1.184 Million) (a step down Subsidiary w.e.f 01.01.2013)

174.975

64.984

(c) Guarantee given to Banks on behalf of Radhikapur (West) Coal Mining Private Limited against which counter guarantee of Rs.33.200 Million (PY 56.100 Million) has been received from OCL Iron and Steel Limited

63.600

107.600

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULT FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2014

 

 

(Rs. In Million)

Particulars

Quarter Ended

(Unaudited)

Half Years ended

 

30.09.2014

30.06.2014

30.06.2014

1. Income from operations

 

 

 

a) Net sales/ Income from operation (net of excise duty)

4692.600

5427.400

10120.000

b) Other operating income

40.600

35.500

76.100

Total income from Operations(net)

4733.200

5462.900

10196.100

2.Expenditure

 

 

 

Cost of material consumed

1008.900

1121.300

2130.200

Purchase of stock in trade

84.00

213.500

297.500

Changes in inventories of finished goods, work-in-progress and stock-in-trade

8.700

(51.400)

(42.700)

Employees benefit expenses

349.900

296.100

646.000

Depreciation and amortization expenses

348.000

307.900

655.900

Power and fuel

779.800

841.000

1620.900

Selling expenses

747.900

871.600

1619.500

Other expenditure

1181.800

1199.000

2380.800

Total expenses

4509.000

4799.100

9308.100

3. Profit from operations before other income and financial costs

224.200

663.800

888.000

4. Other income

79.100

52.300

131.400

5. Profit from ordinary activities before finance costs

303.300

716.100

1019.400

6. Finance costs

174.400

164.200

338.600

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

128.900

551.900

680.800

8. Exceptional item

0.000

0.000

0.000

9. Profit from ordinary activities before tax Expense:

128.900

551.900

680.800

10.Tax expenses

1.500

190.400

191.900

11.Net Profit / (Loss) from ordinary activities after tax (9-10)

127.400

361.500

488.900

12.Extraordinary Items (net of tax expense)

0.000

0.000

0.000

13.Net Profit / (Loss) for the period (11 -12)

127.400

361.500

488.900

14.Paid-up equity share capital (Nominal value Rs.2/- per share)

113.800

113.800

113.800

15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

 

 

600.000

16.i) Earnings per share (before extraordinary items) of Rs.2/- each) (not annualised):

 

 

 

(a) Basic

2.24

6.35

8.59

(b) Diluted

2.24

6.35

8.59

Debt Equity Ration

 

 

0.56

Debt Services Coverage Ratio

 

 

1.68

Interest Service Coverage Ratio

 

 

5.03

 

A. Particulars of shareholding

 

 

 

1. Public Shareholding

 

 

 

- Number of shares

14.266

14.266

14.266

- Percentage of shareholding

25.07

25.07

25.07

2. Promoters and Promoters group Shareholding-

 

 

 

a) Pledged /Encumbered

 

 

 

Number of shares

--

--

--

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

--

--

--

Percentage of shares (as a % of total share capital of the company)

--

--

--

 

 

 

 

b) Non  Encumbered

 

 

 

Number of shares

42.634

42.634

42.634

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

100.00

100.00

100.00

Percentage of shares (as a % of total share capital of the company)

74.93

74.93

74.93

 

B. Investor Complaints

 

Pending at the beginning of the quarter

Nil

Receiving during the quarter

Nil

Disposed of during the quarter

Nil

Remaining unreserved at the end of the quarter

Nil

 

 

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Million)  

 

Particulars

Quarter Ended

(Unaudited)

Half Years ended

 

30.09.2014

30.06.2014

30.06.2014

1. Segment Revenue

 

 

 

Cement

3778.900

4643.300

8422.300

Refractory

913.200

783.900

1697.100

Other

0.500

0.200

0.600

Total

4692.600

5427.400

10120.000

Less : Inter Segment Revenue

0.000

0.000

0.000

Net Sales

4692.600

5427.400

10120.000

 

 

 

 

2. Segment Result

(Profit before Interest and Tax)

 

 

 

Cement

316.000

724.400

1040.4000

Refractory

92.100

75.800

167.900

Total

408.100

800.200

1208.300

Less : Interest Expense

174.400

164.200

338.600

Un- allocable expenditure (Net of income)

104.800

84.100

188.900

Total Profit before Tax

128.900

551.900

680.8000

 

 

 

 

3. Capital Employed

 

 

 

Cement

14847.100

14253.700

14847.100

Refractory

2647.800

2480.11

2647.800

Un- allocable

(5906.800)

(5306.600)

(5906.800)

Total

11588.100

11427.200

11588.100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STATEMENT OF ASSETS AND LIABILITIES

(Rs. In Million)

SOURCES OF FUNDS

30.09.2014

 

 

I.              EQUITY AND LIABILITIES

 

(1)Shareholders' Funds

 

(a) Share Capital

113.900

(b) Reserves & Surplus

11474.200

(c) Money received against share warrants

0.000

 

 

(2) Share Application money pending allotment

0.000

Total Shareholders’ Funds (1) + (2)

11588.100

 

 

(3) Non-Current Liabilities

 

(a) long-term borrowings

5452.700

(b) Deferred tax liabilities (Net)

1431.700

(c) Other long term liabilities

274.200

(d) long-term provisions

0.000

Total Non-current Liabilities (3)

7158.600

 

 

(4) Current Liabilities

 

(a) Short term borrowings

844.600

(b) Trade payables

2049.900

(c) Other current liabilities

3724.700

(d) Short-term provisions

59.500

Total Current Liabilities (4)

6678.700

 

 

TOTAL

25425.400

 

 

II.          ASSETS

 

(1) Non-current assets

 

(a) Fixed Assets

 13914.300

(b) Non-current Investments

621.700

(c) Deferred tax assets (net)

0.000

(d)  Long-term Loan and Advances

148.000

(e) Other Non-current assets

0.000

Total Non-Current Assets

14684.000

 

 

(2) Current assets

 

(a) Current investments

2080.000

(b) Inventories

3459.100

(c) Trade receivables

2615.300

(d) Cash and cash equivalents

890.600

(e) Short-term loans and advances

1610.800

(f) Other current assets

85.600

Total Current Assets

10741.400

 

 

TOTAL

25425.400

 

FIXED ASSETS:

 

Tangible Assets

  • Land
  • Land under lease
  • Buildings
  • Plant and Equipment
  • Plant and Equipment under lease
  • Furniture and Fixtures
  • Vehicles
  • Office equipments
  • Railway Line
  • Live Stock

 

Intangible Assets

  • Computer software

 

PRESS RELEASES

 

DALMIA BHARAT GAINS AS SUBSIDIARY RAISES STAKE IN OCL INDIA

FEBRUARY 25, 2015

 

Shares of Dalmia Bharat were trading higher by 4% at Rs 480 on BSE after the company said it has increased stake in OCL India, one of the largest cement entities in Eastern India with plants in Orissa and West Bengal.

“The company’s subsidiary Company, Dalmia Cement (Bharat) Limited on February 25, 2015 has increased its stake in OCL India Limited from 48% to 74.6% through inter-se transfer within the promoter group of OCL India Limited,” Dalmia Bharat said in a statement.


As a part of the consolidation and growth of the cement sector, the Dalmia Bharat Group has been strategically acquiring assets and creating new assets in Southern, Eastern and North-Eastern India, it added.

The company said the move would help in creating better operational synergies across the Group’s footprint. It is a step forward in the commitment towards aligning all stakeholders’ interests and overall value creation.

The stock opened at Rs 461 and touched a high of Rs 500 on BSE. The trading volumes on the counter more than doubled with a combined 132,815 shares changed hands till 1259 hours on BSE and NSE.

 

OCL INDIA LIMITED INAUGURATES BENGAL CEMENT PLANT

 

OCL India Limited, a flagship associate company of Dalmia Cement Bharat Limited, has commissioned its Bengal cement plant in Godapiasal Industrial Park, West Midnapore. The inauguration was performed by Honorable Chief Minister, Government of West Bengal, Mamata Banerjee, and attended by a number of dignitaries and members of the company’s management team.

 

The new plant represents an investment of Rs.6150.000 Million, and covers an area of 154.43 acres. The facility will produce Portland slag cement (PSC) and Portland pozzolana cement (PPC), in line with the company’s strict quality standards. The Bengal cement plant comprises state-of-the-art technology, including an ARL QUANT'X Energy Dispersive X-ray Fluorescence (EDXRF) spectrometer, Systronics Double beam UV Visible Spectrophotometer with graphic LCD, and AIMIL Mu Compression Testing Machine with automatic pace rate controller.

 

Eastern India accounts for 14% of the country’s installed cement capacity and approximately 18% of demand. The new plant represents the beginning of the company’s investment cycle in West Bengal. The group already operates two cement plants in the state, Cuttack and Rajgangour, which have a total cement production capacity of 5.35 million tpa. The new site will create both skilled and semi skilled employment in the area and OCL intends to develop roads, bridges, health and education facilities in the local community as part of its corporate social responsibility programme.

 

“Bengal's economy has impressively withstood the continuing slowdown in economic growth in previous years and currently is on a high growth trajectory. We want to grow in Bengal to create a market enduring goodwill by benefitting both our buyers and investors. The current boost in industrialisation in the state has prompted us to replicate our success of Rajgangpur and Cuttack, in Salboni. We plan to scale up our presence in the Bengal market by completing the first phase of investment in the plant. Our high capacity plant located strategically will ensure timely and faster delivery of cement across the state, a significant emerging market for infrastructure development and thereby the cement industry,” said Mr Puneet Dalmia, Director, OCL India Limited.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 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.62.35

UK Pound

1

Rs.93.10

Euro

1

Rs.67.13

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

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

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--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

 

67

 

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

 

--

           

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.