MIRA INFORM REPORT
|
Report No. : |
319460 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN ZINC LIMITED |
|
|
|
|
Registered
Office : |
Yashad Bhavan, Yashadgarh, Udaipur – 313004, Rajasthan |
|
Tel. No.: |
91-294-2529182/2529183/2529184/2529185/181/2529102/103/104/225854/
225853 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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|
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|
Date of
Incorporation : |
10.01.1966 |
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|
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Com. Reg. No.: |
17-001208 |
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Capital Investment
/ Paid-up Capital : |
Rs. 8450.600 Million |
|
|
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CIN No.: [Company Identification
No.] |
L27204RJ1966PLC001208 |
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IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHH00694B / JDHH00701B / JDH00759D / JDHH00601G |
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PAN No.: [Permanent Account No.] |
Not Available |
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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
: |
Manufacturing, selling, exploration, mining and concentration of zinc,
lead silver, cadmium, sulphuric acid, phosphoric acid and cobalt. |
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|
|
|
No. of Employees
: |
5599 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1200000000 |
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|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a “Vedanta Group Company”. It is an established company
having fine track record. Financial position of the company seems to be sound. Overall
fundamentals of the company seems to be strong and healthy. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered good for normal 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 |
CRISIL |
|
Rating |
Long Term Rating = “AAA” |
|
Rating Explanation |
Have highest degree of safety and carry lowest credit risk |
|
Date |
20.01.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = “A1+” |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk |
|
Date |
20.01.2015 |
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. (91-294-6604000)
LOCATIONS
|
Registered Office/ Head Office : |
Yashad Bhawan, Yashadgarh, Udaipur – 313
004, Rajasthan, India |
|
Tel. No.: |
91-294-2529182/2529183/2529184/2529185/181/2529102/103/104/225854/
225853 |
|
Fax No.: |
91-294-2526443/2523522/2525763/229012/225826 |
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E-Mail : |
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Website : |
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Corporate Office : |
Swaroop Sagar Road, Udaipur – 313004, Rajasthan, India |
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Tel. No.: |
91-294-2529182 |
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Fax No.: |
91-284-2523522 |
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|
|
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Regional Office : |
703-704 7th Floor Prestige Meridian II #30 M G Road, Bangalore-560001,
India |
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Mining Units: |
Located at:
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Smelting Units: |
Located at:
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Processing and
Refining Units: |
Located at: ·
Haridwar Zinc Plant : Haridwar District
(Uttarakhand) ·
Pantnagar Metal Plant : Rudrapur District
(Uttrakhand) |
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|
|
|
Wind Power
Farms: |
Located at:
|
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Exports / Marketing Office: |
Solitaire Corporate Park Business Square ‘C’ Wing, 2nd Floor, Andheri
Kurla Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra, India Email: exportzinc@vedanta.co.in |
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|
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Power Operations: |
Located at: ·
Chanderiya Smelting Complex ·
Zawar Mines ·
Zinc Smelter Debari ·
Samana Wind Power Plant ·
Gadag Wind Power Plant |
|
|
|
|
Regional Office: |
·
Northern Regional Office Scope Office Complex, Core – 6 IInd Floor,7, Lodi Road, New Delhi – 110003, India Tel - 91 11-24364988/24367261 Fax 91 11-24365421 Email sanjay.khanna@vedanta.co.in ·
Southern Regional Office #705, 7th Floor, Manipal Centre, North Block, Rear Wing Dickenson Road, Bangalore – 560001, India Tel 91 80- 25590918 Fax 91 80- 25590917 Email: sundeep.prasanna@vedanta.co.in ·
Eastern Regional Office Flat No. 9/10, Chatterjee International Centre, Jawaharlal Nehru Road, Kolkata – 700071, India Tel 91
33-2217763/22262627 Fax 91 33-22262627 Email: mohammed.azmatulla@vedanta.co.in ·
Western Regional Office Solitaire Corporate Park Business Square ‘C’ Wing, 2nd Floor, Andheri Kurla Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra, India Tel 91-22-56434500 Fax 91-22-56434640 Email: Anuj.lal@vedanta.co.in |
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Branches : |
Located at : ·
301-302, Dohil Chambers, 46, Nehru Place, New
Delhi – 110 019, Delhi, India Tel. No.: 91-11-26280570 / 26463711 /
26419426 Fax No.: 91-11-26484614 ·
Chatterjee International Centre, 20th Floor,
33-A, Chowringhee Road, Kolkata – 700 071, West Bengal, India Tel. No.: 91-33-22421761 / 22262627 /
22495413 Fax No.: 91-33-22457354 ·
47, Mittal Chambers, Nariman Point, Mumbai – 400
021, Maharashtra, India Tel. No.: 91-22-22025903 / 22049317 Fax No.: 91-22-22833341 ·
B-II, 403, Kamal Apartment, Bani Park, Near Ram Mandir,
Jaipur – 302 006, Rajasthan, India Tel. No.: 91-141-2200723 ·
Block No. 205, II Floor, 5-9-13, Tara Mandal
Complex, Saifabad, Hyderabad – 500 004, Andhra Pradesh, India Tel. No.: 91-40-2241712 / 2233516 /
2230307 ·
102, 8th Garden Colony, New Surya Apartment, C-G
Road, Panchawati, Ahmedabad – 380 008, Gujarat, India Tel. No.: 91-79-2656 1161 ·
No. 6, Amar Jyoti House, Building Co-operative
Society, Near Cordial School, Vijay Nagar, Bangalore – 560040, Karnataka,
India Tel.
No.: 91-80-3300292 / 3305036 |
DIRECTORS
AS ON: 31.03.2014
|
Name : |
Mr.
Agnivesh Agarwal |
|
Designation : |
Chairman
|
|
|
|
|
Name : |
Mr.
Akhilesh Joshi |
|
Designation : |
Chief
Executive Officer and Whole time
Director |
|
|
|
|
Name : |
Mr.
Durga Shankar Mishra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Navin Agarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms.
Shaukat Ara Tirmizi |
|
Designation : |
Director
|
|
|
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|
Name : |
Mr.
A.R. Narayanaswamy |
|
Designation : |
Director |
|
|
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Name : |
Mr.
Rajib Sekhar Sahoo |
|
Designation : |
Director |
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|
|
|
Name : |
Ms. Sujata Prasad |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Amitabh Gupta |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2015
|
Category of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
|
||
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
2743154310 |
64.92 |
|
|
2743154310 |
64.92 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2743154310 |
64.92 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
35042891 |
0.83 |
|
|
796251 |
0.02 |
|
|
1247950590 |
29.54 |
|
|
22995953 |
0.54 |
|
|
106098335 |
2.51 |
|
|
1412884020 |
33.44 |
|
|
|
|
|
|
24358748 |
0.58 |
|
|
|
|
|
|
36948294 |
0.87 |
|
|
3101931 |
0.07 |
|
|
4871697 |
0.12 |
|
|
1389847 |
0.03 |
|
|
804000 |
0.02 |
|
|
1250 |
0.00 |
|
|
2676600 |
0.06 |
|
|
69280670 |
1.64 |
|
Total Public shareholding (B) |
1482164690 |
35.08 |
|
Total (A)+(B) |
4225319000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
4225319000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, selling, exploration, mining and concentration of zinc,
lead silver, cadmium, sulphuric acid, phosphoric acid and cobalt. |
|
|
|
|
Products : |
v Exploration v Mining and
Concentration Of Zinc v Lead Silver v Cadmium v Sulphuric Acid v Phosphoric Acid v Cobalt |
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Brand Names : |
Not Available |
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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 : |
5599 (Approximately) |
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Bankers : |
·
State Bank of Bikaner and Jaipur ·
IDBI Bank Limited ·
ICICI Bank Limited ·
HDFC Bank Limited ·
Citi Bank ·
Calyon Bank ·
Development Bank of Singapore ·
Kotak Mahindra Bank Limited ·
Yes Bank Limited |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
12, Dr. Annie Besant Road , Opposite Shiv Sagar Estate, Worli, Mumbai
- 400 018, Maharashtra, India |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Companies : (As on 31.03.2014) |
v
Sterlite Industries (India) Limited (Immediate
and Ultimate in India) v
Vedanta Resources Plc. U. K. (Ultimate in U. K) |
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Fellow subsidiaries : (As on 31.03.2014) |
v Bharat Aluminium Company Limited v MALCO Energy Limited (Earlier Vedanta Aluminium Limited) v Monte Cello BV* v Copper Mines of Tasmania Pty Limited v Thalanga Copper Mines Pty Limited* v Sterlite Infra Limited (SIL)* v Konkola Copper Mines Plc v Sterlite (USA) Inc.* v Fujairah Gold* v Talwandi Sabo Power Limited v THL Zinc Ventures Limited* v THL Zinc Limited* v THL Zinc Holding BV* v THL Zinc Namibia Holdings (pty) Limited* v Skorpion Zinc (Proprietary) Limited* v Skorpion Mining Company (Proprietary) Limited* v Namzinc (Proprietary) Limited* v Amica Guesthouse (Proprietary) Limited* v Rosh Pinah Health Care (Proprietary) Limited* v Black Mountain Mining (Proprietary) Limited v Vedanta Lisheen Holdings Limited* v Vedanta Lisheen Mining Limited v Killoran Lisheen Mining Limited* v Killoran Lisheen Finance Limited* v Sterlite Ports Limited* v Sesa Mining Corporation Private Limited v Sesa Resources Limited v Sterlite Infraventures Limited* v Paradip Multi Cargo Berth Private Limited* v Pecvest 17 Proprietary Limited* v Lisheen Mine Partnership* v Vizag General Cargo Berth Private Limited.* v Lakomasko BV.* v Lisheen Milling Limited v Bloom Fountain Limited* v Western Clusters Limited* v Goa Energy Limited* v Twin Star Energy Holdings Limited* v Twin Star Mauritius Holdings Limited * v Vedanta Exploration Ireland Limited (Date of Incorporation - 16.05.2013)* v Maritime Ventures Private Limited* v Cairn India Limited* NOTE: *No transactions during the year. |
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Joint Venture - Jointly controlled entity : |
v Madanpur South
Coal Company Limited |
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|
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|
Others : |
v Vedanta
Foundation |
CAPITAL STRUCTURE
As on: 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.8450.600
million
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000000 |
Equity Shares |
Rs. 2/- each |
Rs.10000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4225319000 |
Equity Shares |
Rs. 2/- each |
Rs. 8450.600 Million |
|
|
|
|
|
i.
Reconciliation of the number of shares (As on
31.03.2014)
|
|
31.03.2014 |
|
|
Equity Shares |
Number of Shares |
Rs. In Million |
|
|
|
|
|
Equity shares of Rs. 2/- each
outstanding at the beginning of the year |
4225319000 |
8450.600 |
|
Equity Shares outstanding at the end of the year |
4225319000 |
8450.600 |
|
|
|
|
ii.
2,743154310 Equity Shares are held by M/s. Sterlite
Industries (India) Limited the holding company. The ultimate holding company is
Vedanta Resourses PLC, United Kingdom (VRPLC). No shares are held by VRPLC or
its other subsidiaries or associates.
iii.
Details of equity shares held by shareholders
holding more than 5% shares: (As on 31.03.2014)
|
|
31.03.2014 |
|
|
Name of
Shareholder |
Number of Shares |
% holding |
|
|
|
|
|
Sesa Sterlite Limited |
2743154310 |
64.92% |
|
Government of India- President of India |
1247950590 |
29.54% |
|
|
|
|
iv.
Number of bonus shares allotted during the period of
five years immediately preceding (As on 31.03.2014)
|
Particulars |
Number
of Shares |
|
Equity shares
allotted as fully paid up by way of bonus shares without payment being
received in cash |
2112659500 |
The Company has one class of equity shares having a par value of Rs. 2 per share. Each equity shareholder is eligible for one vote per share held. Each equity shareholder is entitled to dividends as and when declared by the Company. Interim Dividend is paid as and when declared by the Board. Final dividend is paid after obtaining shareholder’s approval. Dividends are paid in Indian Rupees. 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 to their shareholding.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
EQUITY AND
LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8450.600 |
8450.600 |
8450.600 |
|
(b) Reserves & Surplus |
425080.100 |
365725.500 |
314306.800 |
|
(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) |
433530.700 |
374176.100 |
322757.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
25186.200 |
16581.100 |
12798.600 |
|
(c) Other long term liabilities |
1320.800 |
563.700 |
282.300 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
26507.000 |
17144.800 |
13080.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6307.900 |
5103.200 |
4034.700 |
|
(c) Other current liabilities |
10459.100 |
10184.800 |
6532.400 |
|
(d) Short-term provisions |
13115.300 |
10157.800 |
8248.700 |
|
Total
Current Liabilities (4) |
29882.300 |
25445.800 |
18815.800 |
|
|
|
|
|
|
TOTAL |
489920.000 |
416766.700 |
354654.100 |
|
|
|
|
|
|
I.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
114508.800 |
90234.300 |
84736.900 |
|
(ii) Intangible Assets |
0.000 |
1238.200 |
100.500 |
|
(iii) Capital work-in-progress |
0.000 |
15409.400 |
10818.500 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
28.100 |
27.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
43373.200 |
29393.600 |
18982.900 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
2391.900 |
|
Total
Non-Current Assets |
157882.000 |
136303.600 |
117057.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
272535.900 |
225035.800 |
145371.800 |
|
(b) Inventories |
12117.500 |
11982.400 |
11110.900 |
|
(c) Trade receivables |
6588.200 |
3995.100 |
4028.700 |
|
(d) Cash and cash equivalents |
35315.100 |
30314.200 |
69421.000 |
|
(e) Short-term loans and advances |
3641.400 |
3349.300 |
3733.200 |
|
(f) Other current assets |
1839.900 |
5786.300 |
3930.800 |
|
Total Current Assets |
332038.000 |
280463.100 |
237596.400 |
|
|
|
|
|
|
TOTAL |
489920.000 |
416766.700 |
354654.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
147883.900 |
136360.400 |
126998.400 |
|
|
|
Other Income |
28210.500 |
18993.900 |
20321.500 |
|
|
|
TOTAL (A) |
176094.400 |
155354.300 |
147319.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4684.500 |
5012.600 |
7930.600 |
|
|
|
Purchases of Stock-in-Trade |
523.000 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods and work-in-progress |
(1454.500) |
(1551.600) |
(1125.400) |
|
|
|
Employee benefits expense |
8689.100 |
6800.600 |
6499.100 |
|
|
|
Other expenses |
61246.000 |
56483.600 |
48877.700 |
|
|
|
Exceptional items |
28.100 |
616.700 |
175.300 |
|
|
|
TOTAL (B) |
73716.200 |
67361.900 |
62357.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
102378.200 |
87992.400 |
84962.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
235.100 |
449.400 |
291.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
102143.100 |
87543.000 |
84671.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6441.900 |
7845.900 |
6470.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
95701.200 |
79697.100 |
78201.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13921.200 |
10650.900 |
9206.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
81780.000 |
69046.200 |
68994.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
261985.900 |
217241.700 |
170519.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend to Equity shareholders |
|
8028.100 |
6338.000 |
|
|
|
Tax on proposed dividend |
|
1364.400 |
1077.100 |
|
|
|
Interim dividend to Equity shareholders |
|
6760.500 |
6760.500 |
|
|
|
Tax on interim dividend |
|
1149.000 |
1096.700 |
|
|
|
Transfer to general reserves |
|
7000.000 |
7000.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
24302.000 |
217241.700 |
|
|
|
|
NA |
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on F.O.B. basis |
|
28576.100 |
27119.000 |
|
|
TOTAL EARNINGS |
|
28576.100 |
27119.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3428.200 |
9132.400 |
|
|
|
Components, stores and spare parts |
|
7303.600 |
7370.700 |
|
|
|
Capital Goods |
|
4719.000 |
3251.900 |
|
|
TOTAL IMPORTS |
|
15450.800 |
19755.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.35 |
16.34 |
16.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
55.30 |
50.64 |
54.33 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
69.23 |
64.53 |
66.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.53 |
19.86 |
22.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.21 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.11 |
11.02 |
12.63 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
8450.600 |
8450.600 |
8450.600 |
|
Reserves & Surplus |
314306.800 |
365725.500 |
425080.100 |
|
Net
worth |
322757.400 |
374176.100 |
433530.700 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
126998.400 |
136360.400 |
147883.900 |
|
|
|
7.372 |
8.451 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
126998.400 |
136360.400 |
147883.900 |
|
Profit |
68994.800 |
69046.200 |
81780.000 |
|
|
54.33% |
50.64% |
55.30% |
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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
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 |
LITIGATION DETAILS
|
RAJASTHAN HIGH COURT Case Status
: PENDING
|
PERFORMANCE REVIEW
(As on 31.03.2014)
They reported total revenue including other income of Rs. 155350.000 Million, an increase of 5.7% compared to FY 2013. The increase was driven by higher zinc sales volume and premium supported by rupee depreciation, partially offset by lower metal prices. The Company achieved profit before depreciation, interest and tax (PBDIT) of Rs.87990.000 Million in FY 2014, up 3.6%, benefiting from higher integrated metal volumes and rupee depreciation, partially offset by lower metal prices.
Integrated refined zinc production this year was 742,975 MT, compared to 659,971 MT in FY 2013, an increase of 13%. The increase was due to improved operational efficiencies and higher roaster availability at their smelters. The total refined zinc production was 749,167 MT in FY 2014, compared to 676,921 MT in FY 2013.
They increased their integrated refined lead and saleable silver production, which are the highest ever at 117,763 MT and 301 MT – up 10% and 4% – respectively. Production of refined lead was helped by improved utilisation of smelter capacity. The increase in integrated silver metal production was mainly due to higher ore production during the fiscal, partly offset by temporarily lower grades especially in Sindesar Khurd mine. Total refined lead production was 129,858 MT and total silver production was 388 MT, up 4% and down 5%, respectively.
Their total power generation in FY 2014 was 3,471 million units, up 5% from FY 2013. Their wind power generation was down 12% at 448 million units, compared to that in FY 2013.
FINANCIAL
PERFORMANCE
The Company reported record profits of Rs.69050.000 Million for the year. The positive impact of higher EBITDA was partly offset by higher depreciation, lower other income and higher tax during the year.
The Company’s
financial performance has been discussed in detail in ‘Management Discussion
and Analysis’, which forms a part of this Annual Report.
CONTINGENT LIABILITY
|
Particulars |
As on 31.03.2014 (Rs. In Million) |
|
Claims against the
company not acknowledged as debts (matters pending in court / arbitration. No cash outflow is expected in future) |
|
|
- Suppliers and contractors |
1018.000 |
|
- Employees, ex-employees and others |
1235.500 |
|
- Mining cases |
3339.000 |
|
Guarantees issued by the banks (bank guarantees are provided under legal / contractual obligations. No cash outflow is expected in future) |
638.300 |
|
Sales tax demands (this pertains to disputes in respect of tax rate difference / classification, stock transfer matters. No cash outflow is expected in future) |
646.300 |
|
Entry tax demands (this pertains to disputes in respect of entry tax on goods. No cash outflow is expected in future) |
480.600 |
|
Income tax demands (this pertains to deduction and allowances claimed under Chapter VIA, etc. No cash outflow is expected in future) |
11291.800 |
|
Excise Duty demands (this pertains to Cenvat credit availed on inputs, capital goods, alleged duty demands on captive use of the goods. No cash outflow is expected in future) |
1425.400 |
FIXED ASSETS:
·
Land
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Railway siding
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer software
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. 63.40 |
|
|
1 |
Rs. 95.42 |
|
Euro |
1 |
Rs. 68.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
81 |
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.