MIRA INFORM REPORT
|
Report No. : |
317951 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BENGAL
AEROTROPOLIS PROJECTS LIMITED |
|
|
|
|
Registered
Office : |
5, Gorky Terrace, 1st Floor, Kolkata – 700017, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.07.2007 |
|
|
|
|
Com. Reg. No.: |
21-117120 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1141.136 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35303WB2007PLC117120 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALB10045A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB2504L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in developing a greenfield airport, developing common/shared infrastructure for integrated township and assignment of its leasehold rights of certain plots of land in line with the approved master use plan. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects company strong financial risk profile marked by healthy
net worth position and sound profitability of the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. 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 – 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 co-operative (91-33-40201753)
LOCATIONS
|
Registered Office : |
5, Gorky Terrace, 1st Floor, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-40201754 |
|
Fax No.: |
91-33-40201750 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 18.07.2014
|
Name : |
Mr. Arvind Pande |
|
Designation : |
Director |
|
Address : |
E – 148 (FF) East of Kailash, New Delhi – 110065, Idnia |
|
Date of Birth/Age : |
07.09.1942 |
|
Date of Appointment : |
26.12.2007 |
|
DIN No.: |
00007067 |
|
|
|
|
Name : |
Mr. Partha Ghosh |
|
Designation : |
Managing Director |
|
Address : |
9 Lovelock Place, Orbit Place, Flat No, 2 C, Kolkata – 700019, West
Bengal, India |
|
Date of Birth/Age : |
25.04.1969 |
|
Date of Appointment : |
12.07.2007 |
|
DIN No.: |
00129202 |
|
|
|
|
Name : |
Mt. Utsav Parek |
|
Designation : |
Director |
|
Address : |
2/3, Sarat Bose Road, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
28.08.1958 |
|
Date of Appointment : |
12.07.2007 |
|
DIN No.: |
00027642 |
|
|
|
|
Name : |
Mr. Ram Ratan Modi |
|
Designation : |
Director |
|
Address : |
4 A, Bright Street, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
16.04.1957 |
|
Date of Appointment : |
12.7.2007 |
|
DIN No.: |
00343502 |
|
|
|
|
Name : |
Mr. Eugenet Gan |
|
Designation : |
Director |
|
Address : |
94, Farleigh Avenue, Singapore 19565 |
|
Date of Birth/Age : |
11.10.1972 |
|
Date of Appointment : |
16.07.2009 |
|
DIN No.: |
02711561 |
|
|
|
|
Name : |
Mr. Low Beng Lan |
|
Designation : |
Director |
|
Address : |
550, Havelock Road, #02-07, Singapore – 169638 |
|
Date of Birth/Age : |
15.04.1963 |
|
Date of Appointment : |
30.08.2013 |
|
DIN No.: |
06674635 |
|
|
|
|
Name : |
Mr. Sundeep Malik |
|
Designation : |
Director |
|
Address : |
Bungalow No. 17B, Sector R – 8, Faridabad – 121006, Haryana, India |
|
Date of Birth/Age : |
15.01.1972 |
|
Date of Appointment : |
09.05.2014 |
|
DIN No.: |
06527232 |
|
|
|
|
Name : |
Mr. Mukund Gajanan Sapre |
|
Designation : |
Director |
|
Address : |
139-140, The Orchid Bungalows Old Padra Road, Vadodara – 390020,
Gujarat, India |
|
Date of Birth/Age : |
14.09.1959 |
|
Date of Appointment : |
02.07.2014 |
|
DIN No.: |
00051841 |
|
|
|
|
Name : |
Mr. Kishor Shah |
|
Designation : |
Director |
|
Address : |
2/1, Rowland Road, Front Building 3rd Floor, Kolkata –
700020, West Bengal, India |
|
Date of Birth/Age : |
30.08.1956 |
|
Date of Appointment : |
16.07.2009 |
|
DIN No.: |
00170502 |
|
|
|
|
Name : |
Mr. Arun Banerjee |
|
Designation : |
Director |
|
Address : |
16, Uday Shankar, Sarani, 5th Floor, Flat 5A, Block – C,
Kolkata – 700033, West Bengal, India |
|
Date of Birth/Age : |
13.09.1948 |
|
Date of Appointment : |
22.01.2010 |
|
DIN No.: |
02587299 |
|
|
|
|
Name : |
Mr. Ngee Muoy See |
|
Designation : |
Director |
|
Address : |
15, Lorong N Telok, Kurau #02 – 01, Singapore – 425142 |
|
Date of Birth/Age : |
10.06.1969 |
|
Date of Appointment : |
30.08.2013 |
|
DIN No.: |
02711541 |
KEY EXECUTIVES
|
Name : |
Mr. Romit Mitra |
|
Designation : |
Secretary |
|
Address : |
29/1a, Ballygunge, Circular Road, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
02.07.1955 |
|
Date of Appointment : |
02.12.2013 |
|
DIN No.: |
ADPPM1678N |
|
Date of Appointment : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Utsav Parekh |
|
1 |
|
Ram Ratan Modi |
|
1 |
|
Partha Ghosh |
|
1 |
|
West Bengal Industrial Development Corp Limited, India |
|
1400000 |
|
Pragati Development Limited, India |
|
11350000 |
|
Changi Airports India Pte. Limited, Singapore |
|
40867344 |
|
IL and FS Airports Limited, India |
|
16066764 |
|
Lend Lease Company India Limited, India |
|
15574999 |
|
Citystar Infrastructures Limited, India |
|
19424999 |
|
Citystar Infrastructures Limited, India |
|
20165152 |
|
Pragati Social Infrastructure Development Limited, India |
|
2084897 |
As on 18.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
32.20 |
|
Bodies corporate |
66.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in developing a greenfield airport,
developing common/shared infrastructure for integrated township and
assignment of its leasehold rights of certain plots of land in line with the
approved master use plan. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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|||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Financial Institution : |
West Bengal Industrial Development Corporation Limited, “PROTITI”, 23,
Abanindranath Thakur Sarani, Kolkata – 700017, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
22 Camac Street, 3rd Floor, Block C, Kolkata – 700016, West Bengal, India |
|
PAN No.: |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Enterprises
exercising significant Influence: |
CIN NO. : U70101WB1991PLC052250
|
CAPITAL STRUCTURE
As on 18.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
126,934,108 |
Equity Shares |
Rs.10/- each |
Rs. 1269.341
Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 1600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,41,13,595 |
Equity Shares |
Rs.10/- each |
Rs. 1141.136
Million |
|
|
|
|
|
After As on
18.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,371,905,190 |
Equity Shares |
Rs.10/- each |
Rs. 1371.905
Million |
|
|
|
|
|
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 |
1141.136 |
1141.136 |
1141.136 |
|
(b) Reserves & Surplus |
1386.196 |
1324.860 |
1311.507 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
175.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2702.332 |
2465.996 |
2452.643 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2894.331 |
2642.500 |
2042.980 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
85.211 |
79.027 |
11.661 |
|
(d) long-term provisions |
4.966 |
4.058 |
2.416 |
|
Total
Non-current Liabilities (3) |
2984.508 |
2725.585 |
2057.057 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
70.000 |
2.500 |
2.500 |
|
(b) Trade payables |
164.218 |
74.376 |
52.654 |
|
(c) Other current liabilities |
2168.493 |
1488.814 |
73.580 |
|
(d) Short-term provisions |
13.376 |
9.421 |
0.738 |
|
Total
Current Liabilities (4) |
2416.087 |
1575.111 |
129.472 |
|
|
|
|
|
|
TOTAL |
8102.927 |
6766.692 |
4639.172 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1613.069 |
1476.595 |
1709.635 |
|
(ii) Intangible Assets |
0.560 |
1.030 |
0.400 |
|
(iii) Capital work-in-progress |
3225.771 |
2182.858 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
188.874 |
177.185 |
250.245 |
|
(e) Other Non-current assets |
1590.156 |
1044.365 |
1442.840 |
|
Total
Non-Current Assets |
6618.430 |
4882.033 |
3403.120 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
960.369 |
710.555 |
108.493 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
446.792 |
1159.460 |
1123.927 |
|
(e) Short-term loans and
advances |
65.685 |
10.726 |
2.590 |
|
(f) Other current assets |
11.651 |
3.918 |
1.042 |
|
Total
Current Assets |
1484.497 |
1884.659 |
1236.052 |
|
|
|
|
|
|
TOTAL |
8102.927 |
6766.692 |
4639.172 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
261.073 |
37.465 |
0.000 |
|
|
Other Income |
27.327 |
70.989 |
29.754 |
|
|
TOTAL
|
288.400 |
108.454 |
29.754 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
106.100 |
9.280 |
0.000 |
|
|
Employees benefits expense |
21.596 |
12.173 |
10.684 |
|
|
Other expenses |
70.294 |
69.222 |
35.781 |
|
|
TOTAL
|
197.990 |
90.675 |
46.465 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
90.410 |
17.779 |
(16.711) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.271 |
1.622 |
0.942 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
88.139 |
16.157 |
(17.653) |
|
|
|
|
|
|
|
Less |
TAX |
26.802 |
2.804 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
61.337 |
13.353 |
(17.653) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(43.997) |
(57.350) |
(39.697) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
17.340 |
(43.997) |
(57.350) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.54 |
0.12 |
(0.17) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
23.49 |
35.64 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.81 |
0.35 |
(0.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.01 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.10 |
1.07 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.61 |
1.20 |
9.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1141.136 |
1141.136 |
1141.136 |
|
Reserves & Surplus |
1311.507 |
1324.860 |
1386.196 |
|
Share application money
pending allotment fund |
0.000 |
0.000 |
175.000 |
|
Net
worth |
2452.643 |
2465.996 |
2702.332 |
|
|
|
|
|
|
long-term borrowings |
2042.980 |
2642.500 |
2894.331 |
|
Short term borrowings |
2.500 |
2.500 |
70.000 |
|
Total
borrowings |
2045.480 |
2645.000 |
2964.331 |
|
Debt/Equity
ratio |
0.834 |
1.073 |
1.097 |
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) |
|
Total Income |
29.754 |
108.454 |
288.400 |
|
|
|
264.502 |
165.919 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
29.754 |
108.454 |
288.400 |
|
Profit |
(17.653) |
13.353 |
61.337 |
|
|
(59.33%) |
12.31% |
21.27% |
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 |
---------------------- |
|
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 |
No |
Note:
Registered office of the company has been shifted from 5
Gorky Terrace, 2nd Floor, Kolkata – 700017, West Bengal, India to
the present address w.e.f. 01.03.2014
CORPORATE INFORMATION
The company was incorporated on 12th July 2007 to develop an integrated aerotropolis project in Andal, West Bengal. Accordingly, during the year, the Company has been engaged in developing a greenfield airport, developing common/shared infrastructure for integrated township and assignment of its leasehold rights of certain plots of land in line with the approved master use plan.
INDUSTRY OUTLOOK
The Board envisages that once the General Elections are over in mid May, 2014, a stable Government at the center would lead to a positive outlook for the infrastructure industry. The economy would be expected to grow. It is also hoped that a strong emphasis will be laid on improving the performance of key infrastructure sectors such as airports.
Further, it is anticipated that the new Government would announce meaningful infrastructure projects and formulate and implement an effective regulatory land reform measures like rehabilitation, resettlement and compensation policies to ensure that legal issues do not arise and lead to litigations, protests and political intervention resulting in project delays and spiraling cost escalation due to such delays.
As the infrastructure projects have long gestation periods, removal of such bottlenecks is necessary to boost the infrastructure industry.
PROJECT UPDATE
Airport
The airport construction work has made steady progress during the year and all the major construction work has been completed and steadfastly moving towards the ultimate goal of starting commercial operations. It immediately after relocation of 400 KV and 220 KV EHV line towers, which presently effects flight path, the commercial operation can commence. The Company had awarded the EHV lines relocation work on a turn-key basis to M/s. Larsen and Toubro Limited, who have already mobilized requisite resources at the project site and have made a substantial progress.
Integrated Township
Development
The infrastructure development activities within Sujalaam township area are also making steady progress. The bituminous road connectivity between the airport and Andal-Ukhra road through the township area has already been completed. The road connectivity with NH-2 is also progressing and has been completed to a great extent. The network of primary and secondary roads within the industrial area and ELA/Parna residential plotted developments has progressed up to WMM level. The work for storm water drains, grading / leveling, water supply pipe lines for residential and industrial plots are under progress. The construction work for 33/11 KV electrical substation is progressing towards completion.
Commencement of
Airport Operations
The Company has made an application to Director General of Civil Aviations (DGCA) for aerodrome license. DGCA officials have inspected thier airport couple of times in the financial year and have given their valuable suggestions. The Airport Authority of India (AAI) has already installed DVOR equipments and Glide Path building is under construction. Met equipment has been imported and the Company has signed MOU with Indian Meteorological Department (IMD) for provision of Aviation Meteorological Services to be located in our airport. It is expected that the recent policy announcement by Government of West Bengal allowing zero tax on aviation turbine fuel (ATF) will encourage all the leading airline players to include Durgapur in their route plans.
A team of professionals having diverse background have been recruited for airport operations. The team is coordinating with DGCA and AAI on a regular basis. All the major statutory approvals / clearances required for carrying out construction activities are in place.
CORPORATE SOCIAL
RESPONSIBILITY
The Company has undertaken a series of committed CSR initiatives which is touching the lives of both the project affected people as well as the surrounding community. These activities are an intrinsic part of project development and are aimed at improving the living standards of the population adjacent to the project. The initiatives are mainly focused on health care, developing employable skill among youths, developing educational and social infrastructure and also meeting the sanitation need of the surrounding villages.
Health
The Company felt the need to address the basic health care need of the rural women and children in the surrounding villages. Weekly medical camps have been organised to cater to the unmet gynecological and pediatric problems of rural population. A team of doctor has been appointed by the Company who are attending these camps since January 2010. Presently the camps are being held at 5 locations: Ichapur, Ukhra, Dakshinkhanda, Tamla and Andal. More than 18,000 women and children have benefitted from these camps till date.
Cervical Cancer, one of the most common form of cancer among women, accounts for death of innumerable number of rural women. To address this issue, the Company in collaboration with Chittaranjan National Cancer Institute (CNCI), Kolkata has been organizing screening camps to detect the disease in precancerous stage. Till date more than 350 women has been screened for detection of cervical breast cancer and more than 50 women detected in pre-cancerous stage has undergone treatment.
Several free eye check-up and cataract screening camp have been organized by the Company in collaboration with M.P. Birla Eye Clinic, Kolkata. More than 1,200 patients attended these camps. Among these patients 340 were detected with matured cataract have undergone cataract surgery and lens implanted at M.P. Birla Eye Clinic, Kolkata with all expenses borne by the Company.
Education and
Community Development
The Company also undertook initiatives in the field of education by providing necessary support to the local primary schools for their comprehensive development. An assessment of the primary schools of the project affected Moujas was conducted. The objective of such initiative is to augment the basic infrastructural facilities like sitting arrangement, arrangement of drinking water, blackboards and educational materials, developing laboratory and library, electricity, sanitation etc. Till date 10 schools in the surrounding have been supported.
Creation of Social
Infrastructure
The Company has been actively developing social infrastructure in the project catchment area. The activities include among others developing children’s park, construction of village roads, and supply of drinking water especially during the summer.
Vocational Training
Developing employable skill among the local youths so that they can address the future pool of manpower that will be required to support various utility services of the Aerotropolis is another CSR initiative undertaken by the Company under the aegis of the Rehabilitation and Resettlement (RandR) package. One family member from each land givers are given an opportunity to enhance their skill through vocational training. In this regard a Memorandum of Understanding was signed between BAPL and Department of Technical Education and Training, Govt. of West Bengal, and ITI Durgapur was identified as the nodal agency to impart these training programmes. Till date a total of 3,840 vocational training cards have been issued to 1 member from each land giver?s family and among them 2,110 trainees have been enrolled at ITI Durgapur. At present 17 Number of courses are being offered being in the institute.
FINANCE
The Company has tied up total fresh loan of INR 1200 million during the year under review and has availed disbursement of INR 950 million against the same. With regard to the earlier term loan of INR 3300 million, the Company has commenced quarterly repayment.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Intercorporate Borrowings |
70.000 |
2.500 |
|
|
|
|
|
Total |
70.000 |
2.500 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10560030 |
27/03/2015 |
150,000,000.00 |
THE FEDERAL BANK LIMITED |
R N MUKHERJEE ROAD BRANCH, 1 R N MUKHERJEE ROAD, |
C49450141 |
|
2 |
10556394 |
23/03/2015 |
250,000,000.00 |
WEST BENGAL INFRASTRUCTURE DEVELOPMENT FINANCE COR |
36A, HEMANTA BASU SARANI, KOLKATA, West Bengal - 700001, INDIA |
C47430152 |
|
3 |
10532401 |
27/10/2014 |
100,000,000.00 |
Central Bank of India |
Corporate Finance Branch, 33 N.S. Road, Kolkata, |
C34339960 |
|
4 |
10267432 |
16/12/2014 * |
5,287,600,000.00 |
PNB INVESTMENT SERVICES LIMITED |
10, Rakesh Deep Building, Yusuf Sarai Commercial |
C36671154 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
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.62.35 |
|
|
1 |
Rs.93.09 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.