MIRA INFORM REPORT

 

 

Report No. :

353312

Report Date :

09.12.2015

 

IDENTIFICATION DETAILS

 

Name :

ORISSA MANGANESE AND MINERALS LIMITED (w.e.f. 19.05.2008)

 

 

Formerly Known As :

ORISSA MANGANESE AND MINERALS PRIVATE LIMITED

 

 

Registered Office :

IPICOL House, 3rd Floor, Annexe Building, Janpath, Bhubaneswar - 751022 Orissa

Tel. No.:

91-33-30517100

 

 

Country :

India

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

30.07.1953

 

 

Com. Reg. No.:

15-017027

 

 

Capital Investment / Paid-up Capital :

Rs. 200.000 Million

 

 

CIN No.:

[Company Identification No.]

U13201OR1953PLC017027

 

 

IEC No.:

0208001379

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACO3635J

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Iron Ore Pellets and Mining of Manganese Ore, Iron Ore and Graphite Ore. (Registered Activity)

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a wholly owned subsidiary of Adhunik Metaliks Limited incorporated in the year 1953.

 

The company has achieved decent revenue base marked by satisfactory profitability margin. Operational performance has improved as compared to previous year.

 

The company possesses good net worth base marked by adequate cash accruals.

 

However, rating is constrained on account of moderate debt levels of 2.82 times of its net worth and unfavourable gap between trade payables and receivables.

 

Trade relations are fair. Business is active. Payments are slow but correct.

 

The company can be considered 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 – 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

 

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 DECLINED BY

 

Name :

Mr. Sumeet Agarwal

Designation :

Assistant General Manager in Finance

Contact No.:

91-9007477789

Date :

03.12.2015

 

 

LOCATIONS

 

Registered Office :

IPICOL House, 3rd Floor, Annexe Building, Janpath, Bhubaneswar - 751022 Orissa, India

Tel. No.:

Not Available

Mobile No.:

91-9007477789 (Mr. Sumeet Agarwal)

Fax No.:

Not Available

E-Mail :

bvarughese@adhunikgroup.co.in

sumeetagarwal@adhunikgroup.co.in

Website :

http://www.adhunikgroup.com

 

 

Corporate Office :

Lansdowne Tower, 6th Floor, 2/1-A, Sarat Bose Road, Kolkata – 700020, West Bengal, India

Tel. No.:

91-33-30517100

Fax No.:

91-33-22890285

E-Mail :

info@adhunikgroup.com

 

 

Factory 1:

Kandra Chowka Road, Kandra, District: Saraikela-Kharsawan-832402, Jharkhand, India

 

 

Factory 2:

P.O. Koira District– Sundergarh- 770048, Odisha, India

 

 

Factory 3:

PO Sulaipat, P S Badampahar District Mayurbhanj-757050, Odisha, India

 

 

Factory 4:

PO - Gua P.S Gua West, Singhbhum- 833213, Jharkhand, India

 

 

DIRECTORS

 

AS ON 02.09.2014

 

Name :

Mr. Jugal Kishore Agarwal

Designation :

Director

Address :

BA-209, Salt Lake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

05.10.1951

Qualification :

B.Com, LLB

Date of Appointment :

05.04.2007

PAN No.:

ADCPA9670K

DIN No.:

00227460

 

 

Name :

Mr. Ghanshyam Das Agarwal

Designation :

Director

Address :

BA-209, Salt Lake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

16.10.1957

Qualification :

B.Com

Date of Appointment :

05.04.2007

PAN No.:

ACUPA0872G

DIN No.:

00507800

 

 

Name :

Mr. Nirmal Kumar Agarwal

Designation :

Director

Address :

BA-209, Salt Lake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

10.01.1962

Qualification :

B.Sc

Date of Appointment :

05.04.2007

PAN No.:

ACNPA0783F

DIN No.:

00605669

 

 

Name :

Mr. Mohan Lal Agarwal

Designation :

Director

Address :

BA-209, Saltlake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

10.05.1965

Qualification :

B.Com

Date of Appointment :

05.04.2007

PAN No.:

ACVPA7179F

DIN No.:

01047906

 

 

Name :

Mr. Mahesh Kumar Agarwal

Designation :

Director

Address :

BA-209, Saltlake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

10.05.1966

Qualification :

B.Com

Date of Appointment :

05.04.2007

PAN No.:

ABCPA9259J

DIN No.:

00507690

 

 

Name :

Mr. Manoj Kumar Agarwal

Designation :

Director

Address :

BA-209, Saltlake City, Kolkata-700064, West Bengal, India

Date of Birth/Age :

06.08.1969

Qualification :

B.E. Mechanical

Date of Appointment :

05.04.2007

PAN No.:

ADBPA890N

DIN No.:

00227871

 

 

Name :

Mr. Sanjay Pratap

Designation :

Director

Address :

H. No-7, Rasmi Lawns, Tankapani Road,, Badagarh Brit Colony, Khordha, Khordha-751018, Orissa, India

Date of Birth/Age :

01.09.1966

Qualification :

L.L.B

Date of Appointment :

13.02.2008

PAN No.:

AAMPP8100G

DIN No.:

02053836

 

 

Name :

Mr. Ramgopal Agarwala

Designation :

Director

Address :

B 2/39, Second Floor, Safdarjung Enclave, New Delhi-110029, Delhi, India

Date of Birth/Age :

14.12.1937

Qualification :

Ph.D- Economics

Date of Appointment :

30.06.2008

PAN No.:

AAMPA5989J

DIN No.:

02054856

 

 

KEY EXECUTIVES

 

Name :

Mr. Nand Kishore Singhal

Designation :

Manager

Address :

293, Hari Sabha Math, Kolkata, 700084, West Bengal, India

Date of Birth/Age :

17.04.1957

Date of Appointment :

28.06.2012

PAN No.:

AKTPS2578Q

 

 

Name :

Mr. Alok Kumar Samant

Designation :

Secretary

Address :

45E / 15B, Moore Avenue, Kolkata – 700040, West Bengal, India

Date of Birth/Age :

19.07.1976

Date of Appointment :

22.12.2012

PAN No.:

AXQPS3281C

 

 

Name :

Mr. Sumeet Agarwal

Designation :

Assistant General Manager in Finance

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 02.09.2014

 

Names of Shareholders

 

No. of Shares

 

Adhunik Metaliks Limited, India 

 

19996107

Jugal Kishore Agarwal

(Nominee of Adhunik Metaliks Limited U S 187 of the Companies Act, 2013)

 

900

Ghanshyam Das Agarwal

(Nominee of Adhunik Metaliks Limited U S 187 of the Companies Act, 2013)

 

599

Nirmal Kumar Agarwal

(Nominee of Adhunik Metaliks Limited U/S 187 of the Companies Act, 2013)

 

570

Mohan Lal Agarwal

(Nominee of Adhunik Metaliks Limited U/S 187 of the Companies Act, 2013)

 

570

Mahesh Kumar Agarwal

(Nominee of Adhunik Metaliks Limited U/S 187 of the Companies Act, 2013)

 

599

Manoj Kumar Agarwal

(Nominee of Adhunik Metaliks Limited U/S 187 of the Companies Act, 2013)

 

655

Total

 

20000000

 

 

AS ON 02.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

100.00

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Iron Ore Pellets and Mining of Manganese Ore, Iron Ore and Graphite Ore. (Registered Activity)

 

 

Products :

ITC Code No.

 

Product Descriptions

26011140

Iron Ore

26011210

Iron Ore Pellet

26020060

Manganese Ore

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

ICICI Bank Limited

Branch:

Landmarkrace Cource Circle, Alkapuri, Baroda-390015, Gujarat, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Punjab and Sind Bank        

IBD Branch, 14-15, Old Court Street, Kolkata - 700001, West Bengal, India

 

·         UCO Bank

Flagship Corporate Branch, 3, Netaji Subhas Road, Kolkata - 700001, West Bengal, India

 

·         Punjab National Bank

52A, Shakespeare Sarani, Kolkata - 700017, West Bengal, India

 

·         State Bank of Hyderabad

Lansdowne Branch, 53, Sarat Bose Road, Kolkata – 700025, West Bengal, India

 

·         Bank of Baroda

Indian Exchange Place Branch, 4, Indian Exchange Place, Kolkata- 700001, West Bengal, India

 

 

Facilities :

SECURED LOANS

30.06.2014

(Rs. In Million)

30.06.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term loans from banks

10018.489

7291.970

Term loans from others

1258.409

0.000

Deferred payment liabilities

59.022

86.015

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

1848.908

1101.136

 

 

 

Total

13184.828

8479.121

 

Banking Relations :

--

 

 

Financial Institutions :

·         Srei Equipment Finance Limited

'Vishwakarma', 86C, Topsia Road,, Kolkata-700046, West Bengal, India

 

·         SBICAP Trustee Company Limited

202, Maker Tower "E", Cuffee Parade, Mumbai-400005, Maharashtra, India

 

 

Auditors :

 

Name :

Agarwal Anil Kumar

Chartered Accountants

Address :

4, Chowringhee Lane, Block - III, 8th Floor, Kolkata -700016, West Bengal, India

Income-tax PAN of auditor or auditor's firm :

AABFD6463D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company :

Adhunik Metaliks Limited, India (L28110OR2001PLC017271)

 

 

Associate :

Adhunik Power and Natural Resources Limited, India (U40101WB2005PLC102935)

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

·         Amuel Engineering Private Limited, India (U74200WB2008PTC122977)

·         Adhunik Alloys and Power Limited, India (U27104WB2003PLC096616)

·         Aadhunik Steels Limited, India (U27109WB1992PLC055488)

·         Adhunik Corporation Limited, India (U27106WB1996PLC076992)

·         Adhunik Industries Limited, India (L65921WB1979PLC032200)

·         Adhunik Infotech Limited, India (U52392WB2003PLC095975)

·         Futuristic Steel Limited, India (U27107WB1995PLC076049)

·         Orchid Global Resources Pte Limited., Singapore

 

 

Subsidiary Company :

·         Vasundhra Resources Limited, India (U14219WB2008PLC124324)

·         Mccluskie Coal and Power limited, india (U10200DL2013PLC259695)

·         Global Commodity and Resources Pte Limited, Singapore

 

 

Joint Venture :

Neepaz B C Dagara Steels Private Limited, India (U27100OR2010PTC012205)

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.06.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25,000,000

Equity Shares

Rs. 10/- each

Rs. 250.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20,000,000

Equity Shares

Rs. 10/- each

Rs. 200.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

30.06.2014

30.06.2013

30.06.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

200.000

200.000

200.000

(b) Reserves & Surplus

4467.947

4048.145

3260.369

(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)

4667.947

4248.145

3460.369

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

11335.920

7377.985

6369.189

(b) Deferred tax liabilities (Net)

900.764

800.316

639.522

(c) Other long term liabilities

144.163

265.316

0.000

(d) long-term provisions

28.270

24.504

17.610

Total Non-current Liabilities (3)

12409.117

8468.121

7026.321

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1848.908

1101.136

362.381

(b) Trade payables

3898.962

1599.469

746.888

(c) Other current liabilities

2081.274

2782.650

2523.611

(d) Short-term provisions

106.442

354.737

170.987

Total Current Liabilities (4)

7935.586

5837.992

3803.867

 

 

 

 

TOTAL

25012.650

18554.258

14290.557

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5260.419

5528.876

4956.483

(ii) Intangible Assets

575.198

648.490

709.255

(iii) Capital work-in-progress

1772.441

504.570

628.173

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

4234.189

3592.800

2883.300

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

4757.834

1087.403

1355.288

(e) Other Non-current assets

41.867

31.932

32.837

Total Non-Current Assets

16641.948

11394.071

10565.336

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1928.806

1571.206

1300.613

(c) Trade receivables

2815.370

1259.156

825.118

(d) Cash and cash equivalents

156.795

54.563

707.735

(e) Short-term loans and advances

3288.936

4140.740

887.086

(f) Other current assets

180.795

134.522

4.669

Total Current Assets

8370.702

7160.187

3725.221

 

 

 

 

TOTAL

25012.650

18554.258

14290.557

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

30.06.2014

30.06.2013

30.06.2012

 

SALES

 

 

 

 

 

Revenue from Operations

9358.743

9291.547

6731.986

 

 

Other Income

241.967

177.182

366.722

 

 

TOTAL                                     (A)

9600.710

9468.729

7098.708

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

4388.048

3425.992

1818.394

 

 

Purchases of Stock-in-Trade

0.149

0.000

0.000

 

 

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

(141.156)

(229.153)

(201.772)

 

 

Employees benefits expense

374.677

338.716

323.338

 

 

Other expenses

2316.812

3008.878

2288.696

 

 

Prior Period Items

(0.865)

1.322

0.596

 

 

TOTAL                                     (B)

6937.665

6545.755

4229.252

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

2663.045

2922.974

2869.456

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

1645.989

1326.889

1210.573

 

 

 

 

 

 

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

1017.056

1596.085

1658.883

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

471.615

420.206

460.565

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

545.441

1175.879

1198.318

 

 

 

 

 

Less

TAX                                                                  (H)

125.639

388.103

385.730

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

419.802

787.776

812.588

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

64.076

0.000

0.000

 

TOTAL EARNINGS

64.076

0.000

0.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Components and Spare Parts

0.000

11.735

1.451

 

 

Capital Goods

5.297

6.167

48.660

 

TOTAL IMPORTS

5.297

17.902

50.111

 

 

 

 

 

 

Earnings Per Share (Rs.)

20.99

39.39

40.63

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

30.06.2014

30.06.2013

30.06.2012

Current Maturities of Long term debt

839.133

1816.849

856.076

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from (used in) Operations

(81.289)

(435.443)

2023.941

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

30.06.2014

30.06.2013

30.06.2012

Net Profit Margin

(PAT / Sales)

(%)

4.49

8.48

12.07

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

28.46

31.46

42.62

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.87

8.13

11.12

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.28

0.35

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

3.00

2.42

2.19

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.05

1.23

0.98

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

30.06.2012

30.06.2013

30.06.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

200.000

200.000

200.000

Reserves & Surplus

3260.369

4048.145

4467.947

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

3460.369

4248.145

4667.947

 

 

 

 

Long-term borrowings

6369.189

7377.985

11335.920

Short term borrowings

362.381

1101.136

1848.908

CURRENT MATURITIES OF LONG-TERM DEBTS

856.076

1816.849

839.133

Total borrowings

7587.646

10295.970

14023.961

Debt/Equity ratio

2.193

2.424

3.004

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

30.06.2012

30.06.2013

30.06.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

6731.986

9291.547

9358.743

 

 

38.021

0.723

 

 

NET PROFIT MARGIN

 

Net Profit Margin

30.06.2012

30.06.2013

30.06.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

6731.986

9291.547

9358.743

Profit

812.588

787.776

419.802

 

12.07%

8.48%

4.49%

 

 


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

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

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 CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10604343

15/06/2015

9,800,000.00

SREI EQUIPMENT FINANCE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA- 700046, WEST BE
NGAL, INDIA

C70809090

2

10580086

14/07/2015 *

50,310,700,000.00

SBICAP TRUSTEE COMPANY LIMITED

202, MAKER TOWER "E", CUFFEE PARADE, MUMBAI- 400005, MAHA
RASHTRA, INDIA

C59618074

3

10568926

30/03/2015

6,452,400,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA- 390015, GUJARAT, INDIA

C53411096

4

10551082

20/01/2015 *

1,200,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMB
AI- 400005, MAHARASHTRA, INDIA

C45246477

5

10526604

22/10/2014 *

12,950,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA- 390015, GUJ
ARAT, INDIA

C32016743

6

10487186

20/08/2014 *

21,287,900,000.00

STATE BANK OF INDIA

CORPORATE ACCOUNTS GROUP BRANCH, AS LENDERS' AGENT
, 2ND FLOOR, RELIANCE HOUSE, 34, J L NEHRU ROAD,,
KOLKATA- 700071, WEST BENGAL, INDIA

C20948097

7

10487162

20/08/2014 *

15,220,000,000.00

STATE BANK OF INDIA

CORPORATE ACCOUNTS GROUP BRANCH, AS LEAD BANK, 2N
D FLOOR, RELIANCE HOUSE, 34, J L NEHRU ROAD,, KOLK
ATA- 700071, WEST BENGAL, INDIA

C20790119

8

10475876

18/01/2014

750,000,000.00

BANK OF BARODA

INDIAN EXCHANGE PLACE BRANCH, 4, INDIAN EXCHANGE
PLACE, KOLKATA- 700001, WEST BENGAL, INDIA

B95610945

9

10465615

13/12/2013

1,000,000,000.00

UCO BANK

FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD,
KOLKATA- 700001, WEST BENGAL, INDIA

B91721464

10

10465813

13/12/2013

1,200,000,000.00

UCO BANK

FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD,
KOLKATA- 700001, WEST BENGAL, INDIA

B91819722

 

* Date of charge modification

 

 

CORPORATE INFORMATION:

 

Subject is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is primarily engaged in manufacture of Iron Ore Pellets and mining of Manganese Ore, Iron Ore and Graphite Ore in Odisha and Jharkhand.

 

 

OPERATIONS:

 

The company? value addition business of 1.2 MTPA seen the first full year of operations after commencement last year. The company achieved production volumes of 0.85 MT during the year contributing net revenue of Rs. 5437.000 Million i.e. around 58% of the total net revenues of the company. The company mining business also performed decently in spite of being faced with regulatory issues in Indian Mining Industry. The company achieved iron ore sales volume of 0.47 MT and manganese ore volumes of 0.13 MT during the year.

 

The company?s net income from operations is Rs. 9358.700 Million and profit after tax is Rs. 419.800 Million in financial year 2013-14.

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from 2/1A, Sarat Bose Road, 6th Floor, Kolkata-700020, West Bengal, India to the present address w.e.f 29.05.2013

 

 

CONTINGENT LIABILITIES:

 

Particulars

30.06.2014

(Rs. In Million)

30.06.2013

(Rs. In Million)

Outstanding Bank Guarantees and Bills Discounted

1649.808

61.204

Custom Duty on Import of equipment?s and spare parts under EPCG Scheme

77.107

77.107

Cenvat Credit

228.000

228.000

Employees' Provident Fund

6.100

6.100

 

 

 

Total

1961.015

372.411


FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

 

 

PRESS RELEASE :

 

ADHUNIK METALIKS ARM GETS LEASE EXTENSION; STOCK GAINS 20%

 

Orissa Manganese and Minerals Limited (OMML), a wholly owned subsidiary of Adhunik Metaliks, has been granted extension of lease for their three manganese ore mines till March 31, 2020 under merchant category.

 

Moneycontrol Bureau

 

Adhunik Metaliks is locked at 20 percent upper circuit on Wednesday as its arm has got an extension of lease for three manganese ore mines.

 

Orissa Manganese and Minerals Limited (OMML), a wholly owned subsidiary of Adhunik Metaliks, has been granted extension of lease for their three manganese ore mines till March 31, 2020 under merchant category.

 

The mines are situated at Patmunda, Orahuri and Kusumudhi.

 

The requisite stamp duty and registration charges have already been deposited to the State Government of Odisha. Patmunda mine has already re-started operation.

 

OMML has requested the Government to extent the lease of these mines for further 10 years under captive clause.

 

At 10:26 hrs Adhunik Metaliks was quoting at Rs 18.80, up Rs 3.10, or 19.75 percent on the BSE.

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No 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. 66.80

UK Pound

1

Rs. 100.49

Euro

1

Rs. 72.52

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

AMR

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

3

--RESERVES

1~10

5

--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

 

48

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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

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