MIRA INFORM REPORT
|
Report No. : |
353320 |
|
Report Date : |
07.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADHUNIK METALIKS LIMITED (w.e.f 09.08.2005) |
|
|
|
|
Formerly Known
As : |
NEEPAZ METALIKS LIMITED (w.e.f 18.02.2004) NEEPAZ METALIKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village Chadrihariharpur Po – Kuarmunda, District Sundargarh-770039, Odisha |
|
Tel. No.: |
91-661- 770 039 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2015 |
|
|
|
|
Date of
Incorporation : |
20.11.2001 |
|
|
|
|
Com. Reg. No.: |
15-017271 (New) 21-093945 (Old) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1234.995 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28110OR2001PLC017271 (New) L28110WB2001PLC093945 (Old) |
|
|
|
|
IEC No.: |
0203024877 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RCHN00117F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN5676P |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacture and Sale of Steel, Both Alloy and Non-Alloy. (Registered
Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a flagship company of “Adhunik Group”. It is an established
company having moderate track. The company possesses decent revenue base and adequate net worth base. However, rating is constrained on account of huge lass, deterioration
in cash reserves and moderate debt level which may acts as a threat to
liquidity position of the company. The company’s shares are currently traded with the price of Rs. 16.30
as on December 4th, 2015. However, trade relations are fair. Business is active. Payments are
slow but correct. The company can be considered for business dealings with some
caution. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
31-03-2015.
INFORMATION DENIED
RECEPTIONIST (91-33-30517100)
LOCATIONS
|
Registered Office / Factory 1 : |
Village Chadrihariharpur Po – Kuarmunda, District Sundargarh-770039, Odisha, India |
|
Tel. No.: |
91-661- 770 039 |
|
Fax No.: |
91-661-3051300 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Lansdowne Towers, 2/1A, Sarat Bose Road, Kolkata-700020, West Bengal,
India |
|
Tel. No.: |
91-33-30517100 (30 Lines) |
|
Fax No.: |
91-33-22890285 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Kandra Chowka Road, P.O: Kandra District
Saraikela-Kharswan Jharkhand - 832402, India |
|
Tel. No.: |
91-6597-3298932/3292943/ 832 402 |
|
|
|
|
Branch Office : |
14 N S Road, 2nd Floor, Kolkata-700001, West Bengal, India |
|
Tel. No.: |
91-33-22428551/8553 91-2243-4355/2242-8551/2242-8553 |
|
Fax No.: |
91-33-22428551 |
|
|
|
|
Marketing Offices : |
Located At:
|
DIRECTORS
As on: 30.06.2013
|
Name : |
Mr. Ghanshyamdas Agarwal |
|
Designation : |
Chairman |
|
Address |
BA-209, Salt Lake City, Kolkata, 700064, West Bengal, India |
|
Date of Birth/Age : |
16.10.1957 |
|
Date of Appointment |
20/11/2001 |
|
DIN |
00507800 |
|
|
|
|
Name : |
Mr. Jugal Kishore Agarwal |
|
Designation : |
Director |
|
Address |
Ba-209, Salt Lake City, Kolkata, Kolkata, 700064, West Bengal, India |
|
Date of Birth/Age : |
05.10.1951 |
|
Date of Appointment |
02/06/2003 |
|
DIN |
00227460 |
|
|
|
|
Name : |
Mr. Nirmal Kumar Agarwal |
|
Designation : |
Director |
|
Address |
Ba-209, Salt Lake City, Kolkata, 700064, West Bengal, India |
|
Date of Birth/Age : |
11.11.1962 |
|
Date of Appointment |
06/05/2002 |
|
DIN |
00605669 |
|
|
|
|
Name : |
Mr. Mohan Lal Agarwal |
|
Designation : |
Director |
|
Address |
Ba-209, Saltlake City, Kolkata, 700064, West Bengal, India |
|
Date of Appointment |
15/09/2003 |
|
DIN |
01047906 |
|
|
|
|
Name : |
Gopal Dikshit |
|
Designation : |
Director |
|
Address |
50 Ishwar Nagar, Mathura Road, New Delhi, 110065, Delhi, India |
|
Date of Appointment |
13/11/2013 |
|
DIN |
00090579 |
|
|
|
|
Name : |
Mr. Nihar Ranjan Hota |
|
Designation : |
Director |
|
Address |
Qter No.6a, Forest Park, Abhilasha, Bhubaneswar, 751009, Orissa, India |
|
Date of Appointment |
19/12/2005 |
|
DIN |
01173440 |
|
|
|
|
Name : |
Mr. Ram Gopal Agarwal |
|
Designation : |
Director |
|
Address |
B 2/39, Second Floor, Safdarjung Enclave, New Delhi, 110029, Delhi,
India |
|
Date of Appointment |
28/01/2008 |
|
DIN |
02054856 |
|
|
|
|
Name : |
Mr. Nandanandan Mishra |
|
Designation : |
Director |
|
Address |
Flat D-053, Belvedere Park, Dlf Phase Iii, Gurgaon, 122002, Haryana,
India |
|
Date of Appointment |
27/10/2008 |
|
DIN |
00031342 |
|
|
|
|
Name : |
Mr. Raghaw Sharan Pandey |
|
Designation : |
Director |
|
Address |
C-I/13, Bapa Nagar, New Delhi, 110003, Delhi, India |
|
Date of Appointment |
10/08/2011 |
|
DIN |
02306586 |
|
|
|
|
Name : |
Uttara Dasgupta |
|
Designation : |
Nominee Director |
|
Address |
376 / 2, Block "G", New Alipore, Kolkata, 700053, West
Bengal, India |
|
Date of Appointment |
28/08/2015 |
|
DIN |
06570950 |
|
|
|
|
Name : |
Amrendra Prasad Verma |
|
Designation : |
Director |
|
Address |
14c, Madhuban, Gen J. C. Bhosle Marg, Mumbai, 400021, Maharashtra, India |
|
Date of Appointment |
11/02/2014 |
|
DIN |
00236108 |
KEY EXECUTIVES
|
Name : |
Sanjay Dey |
|
Designation : |
Secretary |
|
Address |
Tower 5/ Flat No. 1202, The Close South, Nirvana Country, Sector-50,
Gurgoan, 122018, Haryana, India |
|
Date of Appointment |
12/02/2015 |
|
PAN |
AKIPD5853G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2015
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
11103634 |
8.99 |
|
|
68809537 |
55.72 |
|
|
79913171 |
64.71 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
79913171 |
64.71 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
4642366 |
3.76 |
|
|
5949413 |
4.82 |
|
|
10591779 |
8.58 |
|
|
|
|
|
|
13331945 |
10.80 |
|
|
|
|
|
|
8586277 |
6.97 |
|
|
5488068 |
4.47 |
|
|
5529247 |
4.48 |
|
|
345251 |
0.28 |
|
|
29816 |
0.02 |
|
|
1000 |
0.00 |
|
|
5153180 |
4.17 |
|
|
32935537 |
26.72 |
|
Total Public shareholding (B) |
43527316 |
35.29 |
|
Total (A)+(B) |
123440487 |
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) |
123440487 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Sale of Steel, Both Alloy and Non-Alloy. (Registered
Activity) |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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||||||||||||||
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Customers : |
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||||||||||||||
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|
||||||||||||||
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No. of Employees : |
Not Divulged |
||||||||||||||
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||||||||||||||
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Bankers : |
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Das and Prasad Chartered Accountants |
|
Address : |
4, Chowringhee Lane, Block – III, 8th Floor, Suit # 8
Floor, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91-33-22521911/ 12 |
|
Fax No.: |
91-33-22521913 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
As on 30.06.2013 : |
|
|
|
|
|
Subsidiary/Step down Subsidiary Companies : |
|
|
|
|
|
Enterprises over which Key Management Personnel / Share Holders /
Relatives have significant influence : |
|
CAPITAL STRUCTURE
As on 30.06.2015
Authorized Capital: Rs. 1452.000 million
Issued, Subscribed & Paid-up Capital: Rs.1234.995 Million
As on 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
145180000 |
Equity Shares |
Rs.10/- each |
Rs.1451.800 Million |
|
2000 |
Preference Shares |
Rs.100/- each |
Rs.0.200 Million |
|
|
Total |
|
Rs.1452.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
123499536 |
Equity Shares |
Rs.10/- each |
Rs.1234.995
Million |
- Terms/rights attached to equity shares
- The Company has only one class of equity shares having a par value of H10 per share. Each holder of equity 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 General Meeting.
- In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
- During the period ended 30th June, 2013, the amount of per share dividend recognized as distribution to equity shareholders is H Nil per share (H Nil per share).
- Aggregate number of bonus shares issued and shares issued for
consideration other than cash during the period of five years immediately
preceding the reporting date
|
Equity Shares |
Rs. In Million |
|
Equity Shares of Rs.10 each issued to the shareholders of Vedvyas Ispat Limited under the scheme of amalgamation dated 16th December, 2009 approved by the court. |
1,259,590 |
|
Equity Shares of Rs.10 each issued to the shareholders of Sri M.P. Ispat and Power Private Limited under the scheme of amalgamation dated 16th September, 2009 approved by the court. |
2,773,732 |
- Details of shareholders holding more than 5% shares in the Company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Mahananda Suppliers Limited |
29,993,485 |
24.29% |
|
Sungrowth Share and Stocks Limited |
29,001,592 |
23.48% |
|
Shyam Vatika Advisors LLP |
7,436,741 |
6.02% |
As per of the Company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
- Employee Stock Options Scheme
For details related to shares reserved for issue under Employee Stock Option (ESOP) plan of the Company
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1234.995 |
1234.995 |
1,234.995 |
|
(b) Reserves & Surplus |
6498.842 |
10821.446 |
10,997.981 |
|
(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) |
7733.837 |
12056.441 |
12,232.976 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15825.760 |
7756.088 |
5,900.841 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
740.692 |
858.320 |
|
(c) Other long term
liabilities |
3142.620 |
4177.826 |
0.000 |
|
(d) long-term provisions |
57.012 |
55.977 |
47.301 |
|
Total Non-current
Liabilities (3) |
19025.392 |
12730.583 |
6,806.462 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3669.148 |
6765.487 |
6,248.439 |
|
(b) Trade
payables |
2795.883 |
6673.674 |
8,259.140 |
|
(c) Other
current liabilities |
564.121 |
1983.051 |
5,061.997 |
|
(d) Short-term
provisions |
22.047 |
7.528 |
10.802 |
|
Total Current
Liabilities (4) |
7051.199 |
15429.740 |
19,580.378 |
|
|
|
|
|
|
TOTAL |
33810.428 |
40216.764 |
38,619.816 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
21628.046 |
21663.710 |
13,737.876 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
4,140.830 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
2,976.562 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
732.535 |
732.531 |
732.552 |
|
(c) Deferred tax assets (net) |
1333.606 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1674.958 |
2916.700 |
1,624.040 |
|
(e) Other
Non-current assets |
52.196 |
366.619 |
406.744 |
|
Total Non-Current
Assets |
25421.341 |
25679.560 |
23,618.604 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6070.584 |
7661.265 |
7,142.717 |
|
(c) Trade
receivables |
832.219 |
3130.380 |
4,930.278 |
|
(d) Cash
and cash equivalents |
45.608 |
124.428 |
69.525 |
|
(e)
Short-term loans and advances |
1347.577 |
2701.805 |
1,815.608 |
|
(f) Other
current assets |
93.099 |
919.326 |
1,043.084 |
|
Total
Current Assets |
8389.087 |
14537.204 |
15,001.212 |
|
|
|
|
|
|
TOTAL |
33810.428 |
40216.764 |
38,619.816 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5981.094 |
16914.634 |
16,537.799 |
|
|
|
Other Income |
121.573 |
649.938 |
673.320 |
|
|
|
TOTAL (A) |
6102.667 |
17564.572 |
17,211.119 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Materials Consumed |
4349.101 |
8302.469 |
7,282.089 |
|
|
|
Purchase of Stock-in-trade |
1166.744 |
2969.958 |
1,113.035 |
|
|
|
(Increase)/ decrease in inventories of Finished Goods, Work-in-Progress,
Stock-in-trade and By-Products |
1015.658 |
210.709 |
1,656.099 |
|
|
|
Employee benefits expense |
411.001 |
564.688 |
516.312 |
|
|
|
Consumption of stores and spares
|
337.873 |
771.962 |
0.000 |
|
|
|
Other expenses |
1503.452 |
1742.872 |
3,477.458 |
|
|
|
TOTAL (B) |
8783.829 |
14562.658 |
14044.993 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(2681.162) |
3001.914 |
3166.126 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2494.607 |
2118.240 |
2276.182 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(5175.769) |
883.674 |
889.944 |
|
|
|
|
|
|
|
|
|
Less/ |
DEPRECIATION/
AMORTISATION (F) |
974.331 |
987.084 |
960.253 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(6150.100) |
(103.410) |
(70.309) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2063.840) |
(106.496) |
(98.511) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(4086.260) |
3.086 |
28.202 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2506.755 |
2503.669 |
2475.467 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1579.505)
|
2506.755 |
2503.669 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
4194.122 |
|
|
TOTAL EARNINGS |
NA |
NA |
4194.122 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
2522.428 |
|
|
|
Stores & Spares |
NA |
NA |
65.541 |
|
|
|
Capital Goods |
NA |
NA |
7.265 |
|
|
TOTAL IMPORTS |
NA |
NA |
2595.234 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(33.09) |
0.02 |
0.23 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
1432.656 |
|
Cash generated from operations |
NA |
NA |
5575.850 |
|
Net Cash flows from operating activities |
NA |
NA |
5567.717 |
QUARTERLY
RESULTS
|
PARTICULARS |
|
2 Quarter |
1 Quarter |
|
Unaudited |
|
30.06.2015 |
30.09.2015 |
|
Net Sales |
|
27.140 |
1304.620 |
|
Total Expenditure |
|
639.690 |
1400.200 |
|
PBIDT (Excl OI) |
|
(612.55) |
(95.580) |
|
Other Income |
|
15.190 |
4.340 |
|
Operating Profit |
|
(597.360) |
(91.240) |
|
Interest |
|
662.290 |
616.090 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
(1259.650) |
(707.330) |
|
Depreciation |
|
260.780 |
340.010 |
|
Profit Before Tax |
|
(1520.430) |
(1047.340) |
|
Tax |
|
(571.000) |
(340.010) |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
(949.430) |
(707.330) |
KEY
RATIOS
|
PARTICULARS |
|
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(68.32) |
0.02 |
0.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(44.83) |
17.75 |
19.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.37) |
(0.26) |
-0.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.80) |
-0.01 |
-0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.52 |
1.20 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
0.94 |
0.77 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.16.30/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2013 |
30.06.2014 |
30.06.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
1234.995 |
1234.995 |
1234.995 |
|
Reserves & Surplus |
10997.981 |
10821.446 |
6498.842 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
12232.976 |
12056.441 |
7733.837 |
|
|
|
|
|
|
long-term borrowings |
5900.841 |
7756.088 |
15825.760 |
|
Short term borrowings |
6248.439 |
6765.487 |
3669.148 |
|
Current maturities of
long-term debts |
1432.656 |
0.000 |
0.000 |
|
Total borrowings |
13581.936 |
14521.575 |
19494.908 |
|
Debt/Equity ratio |
1.110 |
1.204 |
2.521 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
30.06.2013 |
30.06.2014 |
30.06.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
16537.799 |
16914.634 |
5981.094 |
|
|
|
2.279 |
(64.640) |
NET PROFIT MARGIN
|
Net Profit Margin |
30.06.2013 |
30.06.2014 |
30.06.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
16537.799 |
16914.634 |
5981.094 |
|
Profit (Loss) |
28.202 |
3.086 |
(4086.260) |
|
|
0.17% |
0.02% |
(68.32%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
No |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10579531 |
14/07/2015 * |
50,310,700,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER "E", CUFFEE PARADE, MUMBAI - 400005, Maharashtra, INDIA |
C59615948 |
|
2 |
10551280 |
30/01/2015 |
1,200,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER "E", CUFFEE PARADE, MUMBAI - 400005, Maharashtra, INDIA |
C44669570 |
|
3 |
10582617 |
03/01/2015 |
23,000,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, West Bengal, INDIA |
C60021060 |
|
4 |
10487108 |
20/08/2014 * |
21,287,900,000.00 |
State Bank of India |
CORPORATE ACCOUNTS GROUP BRANCH, ASLENDERS' AGENT, 2ND FLOOR, RELIANCE HOUSE, 34, J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
C20947867 |
|
5 |
10487075 |
20/08/2014 * |
15,220,000,000.00 |
State Bank of India |
CORPORATE ACCOUNTS GROUP BRANCH, ASLENDERS' AGENT, 2ND FLOOR, RELIANCE HOUSE, 34, J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
C20789574 |
|
6 |
10465606 |
13/12/2013 |
1,000,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE
BRANCH, 3, NETAJI SUBHAS ROAD, |
B91721183 |
|
7 |
10469299 |
09/12/2013 |
1,100,000,000.00 |
IFCI LIMITED |
IFCI TOWER 61 NEHRU PLACE, NEW DELHI - 110019, INDIA |
B93187144 |
|
8 |
10441060 |
13/07/2013 |
100,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, Gujarat, INDIA |
B81131260 |
|
9 |
10435927 |
22/05/2013 |
1,250,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, ASLENDERS' AGENT, 2ND FLOOR, RELIANCE HOUSE, 34, J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
B79227617 |
|
10 |
10435929 |
22/05/2013 |
1,500,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, ASLENDERS' AGENT, 2ND FLOOR, RELIANCE HOUSE, 34, J L NEHRU ROAD, KOLKATA - 700071, West Bengal, INDIA |
B79227955 |
* Date
of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED ON 30.09.2015
[RS.
IN MILLION]
|
PARTICULARS |
|
3 Months Ended |
|
|
30.09.2015 [Unaudited] |
30.06.2015 [Unaudited] |
||
|
Income from Operations |
|
|
|
|
(a) Net sates/income from operations (Net of excise duty) |
|
1301.108 |
27.144 |
|
(b) Other Operating Income |
|
3.509 |
0.000 |
|
Total income from operations (net) |
|
1304.617 |
27.144 |
|
Expenses |
|
|
|
|
(a) Cost of materials consumed |
|
891.940 |
268.045 |
|
(b) Purchases of stock-in trade |
|
0.000 |
0.000 |
|
(c) Changes in inventories of finished goods. work-in-progress
and stock in trade |
|
(25.597) |
82.804 |
|
(d) Employee benefits expense |
|
99.538 |
66.070 |
|
(e) Depreciation and Amortization Expenses |
|
340.008 |
260.779 |
|
(f) Other Expenses |
|
268.990 |
215.756 |
|
(g)Foreign Exchange |
|
165.328 |
7.021 |
|
Total expenses |
|
1740.207 |
900.475 |
|
Profit/ (Loss) from operations before other Income,
finance costs and exceptional Items (1-2) |
|
(435.590) |
(873.331) |
|
Other Income |
|
4.338 |
15.189 |
|
Profit/ (Loss) from operations before other income,
finance costs and exceptional items (3+4) |
|
(431.252) |
(858.142) |
|
Finance Costs |
|
616.092 |
662.288 |
|
Profit/ (Loss) from ordinary activities after finance cost
but before exceptional items (5-6) |
|
(1047.344) |
(1520.430) |
|
Exceptional items |
|
0.000 |
0.000 |
|
Profit/ (Loss) from ordinary activities before tax (7+8) |
|
(1047.344) |
(1520.430) |
|
Tax expenses |
|
(340.013) |
(570.996) |
|
Net Profit / (Loss) from ordinary activities after tax
(9-10) |
|
(707.331) |
(949.434) |
|
Extraordinary item (net of tax expense) |
|
0.000 |
0.000 |
|
Net Profit / (Loss) for the period (11-12) |
|
(707.331) |
(949.434) |
|
Share of profit' (loss) of associates |
|
|
|
|
Minority Interest |
|
|
|
|
Net Profit/ (Loss) after taxes, minority interest and
share of profit/(loss) of associates (13+14+15) |
|
|
|
|
Paid up equity share capital (Face Value of Rs 10/-each) |
|
1234.995 |
1234.995 |
|
Reserve excluding Revaluation Reserve as per Balance Sheet
of previous accounting year |
|
|
|
|
Earnings per share (before extraordinary items) of Rs.10/-
each (not annualized): |
|
|
|
|
(a) Basic |
|
(5.73) |
(7.69) |
|
(b) Diluted |
|
(5.73) |
(7.69) |
|
|
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
A. Public Shareholding |
|
|
|
|
- Number of shares |
|
43586365 |
43586365 |
|
- Percentage of shareholding |
|
35.29 |
35.29 |
|
Promoters and Promoter group shareholding |
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
- Number of shares |
|
25217391 |
25217391 |
|
- Percentage of shares (as a % of the total shareholding
of Promoter & Promoter group) |
|
31.56 |
31.56 |
|
- Percentage of shares (as a % of the total Share Capital
of the Company) |
|
20.43 |
20.43 |
|
b) Non Encumbered |
|
|
|
|
- Number of shares |
|
54695780 |
54695780 |
|
- Percentage of shares (as a % of the total shareholding
of Promoter & Promoter group) |
|
68.44 |
68.44 |
|
- Percentage of shares (as a % of the total Share Capital
of the Company) |
|
44.29 |
44.29 |
|
|
PARTICULARS |
3
Months Ended 30.09.2015 |
|
B |
Investor
complaints (Nos.) |
|
|
|
Pending at the beginning of the quarter |
- |
|
|
Received during the Quarter |
1 |
|
|
Disposed of during the quarter |
1 |
|
|
Remaining unresolved at the end of the quarter |
- |
1) The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 14th November, 2015.
2) Figures for the quarter ended June 30, 2015 represent the difference between
the audited figures in respect of the full financial years and published
figures of nine months period ended March 31, 2015.
3) As the Company's business activity falls within a single primary business
segment, viz."Iron & Steel Products", the disclosure requirements
of Accounting Standard - 17 "Segment Reporting", as notified by the
Companies (Accounting Standards) Rules 2006 (as amended) are not applicable.
4) The Board of Directors of the Company in its meeting held on July 22, 2013
has approved to amalgamate Zion Steel Limited (ZSL) with the Company and to
amalgamate the Company (post amalgamation of ZSL) with the wholly owned
subsidiary, Orissa Manganese & Minerals Limited (OMML), through a composite
scheme of amalgamation between ZSL, OMML and the Company (the Scheme) as per
the provision of Section 391 to 394 of the Companies Act, 1956. The appointed
date of the amalgamation is 1st July 2012. The scheme has been approved by the
Shareholders and Creditors of the above Companies in their meeting held on 19th
and 20th April 2014 respectively and the Official Liquidator, Orissa High
Court, Cuttack has submitted its report dated 17th July 2014 that the affairs
of the Company appears to have not been conducted in a manner prejudicial to
the interest of its members or to public interest and the Hon'ble High Court
may consider to pass order as deemed fit and proper in that manner. Upon
effectiveness of the Scheme, every shareholder of ZSL holding 17 (seventeen)
fully paid-up equity shares of Rs. 10/- each shall be entitled to receive 1
(one) fully paid-up equity shares of Rs. 10/- each in the Company and every
shareholder of the Company (post amalgamation of ZSL) holding 1 (one) fully
paid-up equity shares of Rs. 10/- each shall be entitled to receive 1 (one)
fully paid-up equity shares of Rs. 10/- each in the wholly owned subsidiary,
OMML.
5) The Company has provided for deferred tax assets for Rs. 340.013 million
based on future profitability projection. The management is of the view that
future taxable income will be available to realize/adjust such deferred tax
assets.
6) There are no extraordinary items during the periods reported above.
7) Prior Period Figures have been regrouped/rearranged wherever necessary.
1) The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 14th November, 2015.
2) Figures for the quarter ended June 30, 2015 represent the difference between
the audited figures in respect of the full financial years and published
figures of nine months period ended March 31, 2015.
3) As the Company's business activity falls within a single primary business
segment, viz."Iron & Steel Products", the disclosure requirements
of Accounting Standard - 17 "Segment Reporting", as notified by the
Companies (Accounting Standards) Rules 2006 (as amended) are not applicable.
4) The Board of Directors of the Company in its meeting held on July 22, 2013
has approved to amalgamate Zion Steel Limited (ZSL) with the Company and to
amalgamate the Company (post amalgamation of ZSL) with the wholly owned
subsidiary, Orissa Manganese & Minerals Limited (OMML), through a composite
scheme of amalgamation between ZSL, OMML and the Company (the Scheme) as per
the provision of Section 391 to 394 of the Companies Act, 1956. The appointed
date of the amalgamation is 1st July 2012. The scheme has been approved by the
Shareholders and Creditors of the above Companies in their meeting held on 19th
and 20th April 2014 respectively and the Official Liquidator, Orissa High
Court, Cuttack has submitted its report dated 17th July 2014 that the affairs
of the Company appears to have not been conducted in a manner prejudicial to
the interest of its members or to public interest and the Hon'ble High Court
may consider to pass order as deemed fit and proper in that manner. Upon
effectiveness of the Scheme, every shareholder of ZSL holding 17 (seventeen)
fully paid-up equity shares of Rs. 10/- each shall be entitled to receive 1
(one) fully paid-up equity shares of Rs. 10/- each in the Company and every
shareholder of the Company (post amalgamation of ZSL) holding 1 (one) fully
paid-up equity shares of Rs. 10/- each shall be entitled to receive 1 (one)
fully paid-up equity shares of Rs. 10/- each in the wholly owned subsidiary,
OMML.
5) The Company has provided for deferred tax assets for Rs. 340.013 million based on future profitability projection. The management is of the view that future taxable income will be available to realize/adjust such deferred tax assets.
6) There are no extraordinary items during the periods reported above.
7) Prior Period Figures have been regrouped/rearranged wherever necessary.
PRESS RELEASE:
ADHUNIK METALIKS GETS BOARD NOD TO CONVERT RS 51000.000 MILLION DEBT
INTO EQUITY
April 01, 2015: KOLKATA: Adhunik Metaliks' (AML) board has approved the
company's Rs 51000.000 million debt-recast programmer. The scheme, approved by
an empowered group under the corporate debt restructuring (CDR) mechanism,
allows the steelmaker's lenders to convert a portion of the debt into equity in
case of default.
AML would increase the limit for
creation of security in favor of lenders to Rs 55000.000 million, the company
informed BSE. It would also increase the limit to provide guarantees for loans
to its subsidiaries-Orissa Manganese and
Minerals (OMML) and Zion Steel -to
Rs 55000.000 million. The equity shareholding of the company will remain the
same.
The increased security for lenders
covers the outstanding debt and future interest liabilities, said a senior company
executive. "In this case, loans of all three companies, AML and
its subsidiaries OMML and
Zion Steel, are getting clubbed and so are the assets and operations of these
companies."
On Tuesday, AML's shares closed Rs
20.90 on BSE,
down 2% in a maraket that was almost flat.
The company opted for debt
restructure in December, saying the closure of various iron ore and manganese
ore mines and scarcity of coal have hurt its business and that of its units. It
has set up an integrated steel plant of 0.45 million tonnes in Sundergarh,
Odisha and has a captive iron ore mine in Keonjhar and had captive coal mines
in Talcher and Angul, Odisha. It has also set up a 1.2 million tonne pellet and
beneficiation plant in Jharkhand to
utilise lowgrade iron ore fines and convert them into value-added pellets.
AML's debt-recast package was
approved by the CDR Empowered
Group on March 18. It includes debt restructuring of OMML,
which had earlier faced difficulties due to temporary closure of its mines, but
has since resumed part of its operations.
Last week, AML called an emergency
meeting of its board to discuss the CDR package and its implementation before
March 31.
"The restructuring package
considers measures to ensure that the viability of the company and its
operations are not overrun by the general economic
slowdown that the iron and steel industry has
been facing for the last five years and likely to face in the near
future," said the executive who didn't wish to be named.
"Restructuring of term debt,
softening of interest rates etc.,
have been considered while granting the package. Further, short to medium-term
relief by way of moratorium in repayments will also ensure better operating
cash-flow positions," the executive said.
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.