MIRA INFORM REPORT
|
Report No. : |
354220 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HPCL-MITTAL ENERGY LIMITED |
|
|
|
|
Formerly Known
As : |
GURU GOBIND SINGH REFINERIES LIMITED |
|
|
|
|
Registered
Office : |
Village Phulokhari, Taluka Talwandi Saboo, Bhatinda – 151301, |
|
Tel. No.: |
91-120-4634500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.12.2000 |
|
|
|
|
Com. Reg. No.: |
16-024126 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 65932.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201PB2000PLC024126 |
|
|
|
|
IEC No.: |
3001012633 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG5231F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Refining of Crude Oil and Exploration and Production of Crude Oil. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 166000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject was initially incorporated as a wholly-owned subsidiary of Hindustan Petroleum Corporation Ltd (HPCL) for setting up refinery project in Bathinda (Punjab). The company was subsequently converted into a joint venture between Hindustan Petroleum Corporation Ltd and Mittal Energy Investment Pte Ltd, Singapore - a Lakshmi Niwas Mittal group company. The company is engaged in the development of petroleum refinery. It produce petroleum and petrochemical products like motor spirit, high speed diesel, superior kerosene oil, aviation turbine fuel, liquefied petroleum gas, naphtha and hexane etc. Ratings draw strength from the strong promoter group(s) and their consistent support and technologically advanced refinery aiding in higher gross refining margins. In addition, the ratings also take into account the strategic location of the unit being HPCL’s only refinery in the oil-deficient North-India region as well as government support in the form of various incentives. However, rating strength is partially offset by industry-wide volatility in refining margins, project risk pertaining to expansion project, moderate gearing levels and moderate debt protection metrics as well as the presence in a highly regulated sector. Trade relations are reported as fair. Payments are reported to be slow. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. NOTE: As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2015 but the documents related to the financial for the year 2014 and 2015 are not available from any source. |
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 |
CARE |
|
Rating |
Long term Bank facilities = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
April 24, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
April 24, 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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Harak Chand Banthia |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-120-4634500 |
LOCATIONS
|
Registered Office : |
Village Phulokhari, Taluka Talwandi Saboo, Bhatinda – 151301, Punjab,
India |
|
Tel. No.: |
91-1655-272120 |
|
Fax No.: |
91-1655-272150 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
|
|
Tel. No.: |
91-120-4634500/ 4634819 |
|
Fax No.: |
91-120-4271940/ 4271940 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Sudhir Maheshwari |
|
Designation : |
Director |
|
Address : |
85, Platts Lane, Hampstead, London, United Kingdom, NW37NL |
|
Date of Birth/Age : |
02.11.1963 |
|
Qualification : |
CA, CS |
|
Date of Appointment : |
25.07.2007 |
|
DIN No. : |
02376365 |
|
|
|
|
Name : |
Mr. Arun Balakrishnan |
|
Designation : |
Director |
|
Address : |
Flat No. 2102, Sobha Petunia, Veerana Palaya, Opposite Lumbini Gardens,, Bangalore - 560045, Karnataka, India |
|
Date of Birth/Age : |
25.07.1950 |
|
Qualification : |
B. Tech, PGDM |
|
Date of Appointment : |
01.08.2010 |
|
DIN No. : |
00130241 |
|
|
|
|
Name : |
Mr. Rajan Tandon |
|
Designation : |
Director |
|
Address : |
19, Preston Road, Wembley, Middlesex, London, United Kingdom, HA98JZ |
|
Date of Birth/Age : |
24.09.1963 |
|
Qualification : |
CA |
|
Date of Appointment : |
03.07.2009 |
|
DIN No. : |
01968916 |
|
|
|
|
Name : |
Prabh Das |
|
Designation : |
Managing Director |
|
Address : |
Flat No. E-801, Pearl Gateway Tower, Sector-44, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
30.10.1957 |
|
Qualification : |
IAS |
|
Date of Appointment : |
01.04.2011 |
|
PAN No. : |
ADBPD7624H |
|
DIN No. : |
00164799 |
|
|
|
|
Name : |
Mr. Balraj Kishor Namdeo |
|
Designation : |
Director |
|
Address : |
F-31/3/1 Panchkamal Society, Sector 29 Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
Date of Birth/Age : |
17.10.1956 |
|
Date of Appointment : |
01.07.2013 |
|
DIN No. : |
06620620 |
|
|
|
|
Name : |
Mrs. Nishi Vasudeva |
|
Designation : |
Director |
|
Address : |
Flat No.12, A Wing 5th Floor Mayfair Gardens, Little Gibbs Road, Near Kamla Nehru Park Hanging Gard, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1956 |
|
Date of Appointment : |
01.03.2014 |
|
DIN No. : |
03016991 |
|
|
|
|
Name : |
Mr. Avinash Chander Mahajan |
|
Designation : |
Director |
|
Address : |
605, Empire Cooperative Housing Society, Azad Nagar Veera Desai, Road, Near Andheri Sports Complex, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
01.06.2015 |
|
DIN No. : |
00041661 |
|
|
|
|
Name : |
Mr. Ramaswamy Jagannathan |
|
Designation : |
Additional Director |
|
Address : |
8A, HP Nagar East, Vasinaka, Chembur, Mumbai – 400074, Maharashtra, India |
|
Date of Appointment : |
01.10.2015 |
|
DIN No. : |
06627920 |
|
|
|
|
Name : |
Philippe Marc Rene Darmayan |
|
Designation : |
Director |
|
Address : |
18 Rue, Armand Moisant, Paris, 75015, France |
|
Date of Appointment : |
25.03.2015 |
|
DIN No. : |
07134336 |
KEY EXECUTIVES
|
Name : |
Mr. Sidhartha Taygi |
|
Designation : |
Secretary |
|
Address : |
A-85 Surya Nagar, Po Chander Nagar, District Ghazibad - 201011, Uttar Pradesh, India |
|
Date of Appointment : |
29.11.2001 |
|
PAN No.: |
ACKPT8760E |
|
|
|
|
Name : |
Harak Chand Banthia |
|
Designation : |
Chief Financial Officer |
|
Address : |
19, Karl Marx Sarani, Kidderpore, Kolkata – 700023, West Bengal, India |
|
Date of Appointment : |
09.09.2014 |
|
PAN No.: |
AEBPB4317E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
|
Hindustan Petroleum Corporation Limited, India |
3690735130 |
|
Mittal Energy Investments Pte Limited, Singapore |
3690735200 |
|
IFCI Limited, India |
77189796 |
|
State Bank of India, India |
52547840 |
|
HDFC Standard Life Insurance Company Limited, India |
27649103 |
|
HDFC SL Shareholders Solvency Margin Account |
2600346 |
|
Nishi Vasudeva |
10 |
|
K.V. Rao |
10 |
|
Ajit Singh |
10 |
|
B.K. Namdeo |
10 |
|
G.V. Joshi |
10 |
|
Shrikant M. Bhosekar |
5 |
|
V. Murali |
5 |
|
Santanu Bhattacharjee |
10 |
|
|
|
|
Total |
7541457485 |
AS ON 06.11.2015
|
Names of Allottees |
No. of Shares |
|
Hindustan Petroleum Corporation Limited, India |
248820000 |
|
Mittal Energy Investments Pte Limited, Singapore |
248820000 |
|
HDFC Standard Life Insurance Company Limited, India |
1864033 |
|
HDFC SL Shareholders Solvency Margin Account |
175309 |
|
|
|
|
Total |
499679342 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Government
Companies |
48.94 |
|
Public Financial
Companies |
1.02 |
|
Nationalized or
other banks |
0.70 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
48.94 |
|
Bodies
corporate |
0.40 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Refining of Crude Oil and Exploration and Production of Crude Oil. [Registered Activity] |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
Allahabad Bank Industrial Finance Branch, 1st Floor, 17,
Parliament Street, New Delhi - 110001, Delhi, India ·
Union Bank of India Industrial Fin. Branch, Union Bank of India
Building, 5th Floor, 66/80, Mumbai Samachar Marg, Mumbai - 400023,
Maharashtra, India ·
DBS Bank Limited Upper Ground Floor, Birla Tower, 25, Barakhamba
Road, New Delhi - 110001, Delhi, India · Export-Import Bank of India Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India
|
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|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Sbicap Trustee Company Limited 202, Maker Tower, 'E', Cuffe Parade, Colaba,, Mumbai - 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View Corporate Tower-B, Sector-42, Sector Road, Gurgaon – 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Joint venture : |
· Hindustan Petroleum Corporation Limited [L23201MH1952GOI008858] · Mittal Energy Investments Pte. Limited |
|
|
|
|
Subsidiary company
: |
· HPCL-Mittal Pipelines Limited [U60101PB2008PLC031563] · HPCL-Mittal Services Limited [U74990PB2008PLC031715] |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key Management personnel and their relatives : |
Mittal Investments U.K. Limited |
CAPITAL STRUCTURE
AFTER 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,041,136,827 |
Equity Shares |
Rs. 10/- each |
Rs. 80411.368 Million |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,593,227,474 |
Equity Shares |
Rs.10/- each |
Rs. 65932.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
65932.000 |
49980.000 |
47080.000 |
|
(b) Reserves & Surplus |
(16515.000) |
(15648.000) |
859.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
8821.000 |
5311.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
58238.000 |
39643.000 |
47939.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
120588.000 |
102253.000 |
79507.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
6337.000 |
0.000 |
|
(c) Other long term
liabilities |
409.000 |
33.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
120997.000 |
108623.000 |
79507.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
37582.000 |
43104.000 |
6655.000 |
|
(b) Trade
payables |
45695.000 |
15057.000 |
3515.000 |
|
(c) Other
current liabilities |
26239.000 |
11416.000 |
6405.000 |
|
(d) Short-term
provisions |
689.000 |
8987.000 |
31.000 |
|
Total Current
Liabilities (4) |
110205.000 |
78564.000 |
16606.000 |
|
|
|
|
|
|
TOTAL |
289440.000 |
226830.000 |
144052.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
191090.000 |
146485.000 |
1819.000 |
|
(ii)
Intangible Assets |
1457.000 |
91.000 |
83.000 |
|
(iii)
Capital work-in-progress |
373.000 |
8653.000 |
114360.000 |
|
(iv)
Intangible assets under development |
0.000 |
1311.000 |
0.000 |
|
(b) Non-current Investments |
12230.000 |
12230.000 |
12087.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
1.000 |
|
(d) Long-term Loan and Advances |
477.000 |
559.000 |
7377.000 |
|
(e) Other
Non-current assets |
604.000 |
364.000 |
390.000 |
|
Total Non-Current
Assets |
206231.000 |
169693.000 |
136117.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
61153.000 |
45695.000 |
0.000 |
|
(c) Trade
receivables |
15048.000 |
65.000 |
0.000 |
|
(d) Cash
and cash equivalents |
5589.000 |
58.000 |
1259.000 |
|
(e)
Short-term loans and advances |
1212.000 |
11191.000 |
3757.000 |
|
(f) Other
current assets |
207.000 |
128.000 |
2919.000 |
|
Total
Current Assets |
83209.000 |
57137.000 |
7935.000 |
|
|
|
|
|
|
TOTAL |
289440.000 |
226830.000 |
144052.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
77026.000 |
76.000 |
2778.600 |
|
|
|
Other Income |
265.000 |
9.000 |
607.453 |
|
|
|
TOTAL (A) |
77291.000 |
85.000 |
3386.053 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
80104.000 |
3390.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(653.000) |
(2732.000) |
|
|
|
|
Employees benefits expense |
530.000 |
315.000 |
|
|
|
|
Other expenses |
4230.000 |
5314.000 |
|
|
|
|
Exceptional Items |
(5473.000) |
0.000 |
|
|
|
|
TOTAL (B) |
78738.000 |
6287.000 |
3532.769 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
(1447.000) |
(6202.000) |
(146.716) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2823.000 |
3126.000 |
17.863 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(4270.000) |
(9328.000) |
(164.579) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
2849.000 |
841.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(7119.000) |
(10169.000) |
(164.579) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(6337.000) |
6338.000 |
(1.332) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(782.000) |
(16507.000) |
(163.247) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY ON F.O.B. BASIS |
13797.000 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital goods |
51.000 |
1463.000 |
8532.000 |
|
|
|
Components and Spare Parts |
665.000 |
96.000 |
0.000 |
|
|
|
Raw Materials |
205774.000 |
43750.000 |
0.000 |
|
|
|
Traded Goods |
0.000 |
0.000 |
2850.000 |
|
|
TOTAL IMPORTS |
206490.000 |
45309.000 |
11382.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.13) |
(3.45) |
(0.04) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
19429.000 |
1435.000 |
143.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
4792.000 |
(37719.000) |
(5890.000) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.02) |
(21719.74) |
(5.88) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(1.88) |
(8160.53) |
(5.28) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.57) |
(4.97) |
(0.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12) |
(0.26) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.05 |
3.70 |
1.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76 |
0.73 |
0.48 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
47080.000 |
49980.000 |
65932.000 |
|
Reserves & Surplus |
859.000 |
-15648.000 |
-16515.000 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
5311.000 |
8821.000 |
|
Net
worth |
47939.000 |
39643.000 |
58238.000 |
|
|
|
|
|
|
Long-term borrowings |
79507.000 |
102253.000 |
120588.000 |
|
Short term borrowings |
6655.000 |
43104.000 |
37582.000 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
143.000 |
1435.000 |
19429.000 |
|
Total
borrowings |
86305.000 |
146792.000 |
177599.000 |
|
Debt/Equity
ratio |
1.800 |
3.703 |
3.050 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2778.600 |
76.000 |
77026.000 |
|
|
|
-97.265 |
1,01,250.000 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2778.600 |
76.000 |
77026.000 |
|
Profit/ (Loss) |
(163.247) |
(16507.000) |
(782.000) |
|
|
-5.88% |
-21719.74% |
-1.02% |
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 |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
Case Details For
Case CWP-10705-2015 |
||||
|
Diary Number |
1321136 |
District |
BATHINDA |
|
|
Category |
6.19-INCOME TAX ACT 1961 |
Main Case Detail |
ITA-310-2014 |
|
|
Party Detail |
PRINCIPAL COMMISSIONER OF INCOME TAX BATHINDA V/S M/S HPCL MITTAL ENERTY
LTD. AND ANR |
|||
|
Advocate Name |
GAURAV SINGH HOODA |
List Type |
ORDINARY |
|
|
Status |
PENDING |
Next date |
||
|
|
||||
|
Case Listing
Details |
||||
|
Cause List Date |
List Type: Sr.
No. |
Bench |
Order Link |
|
|
12-AUG-2015 |
ORDINARY:207 |
HON'BLE MR. JUSTICE AJAY KUMAR MITTAL; HON'BLE MR. JUSTICE RAMENDRA
JAIN |
View Interim Order |
|
|
20-JUL-2015 |
:104 |
HON'BLE THE ACTING CHIEF JUSTICE; HON'BLE MR. JUSTICE GURMEET SINGH
SANDHAWALIA |
View Interim Order |
|
|
26-MAY-2015 |
:104 |
HON'BLE THE ACTING CHIEF JUSTICE; HON'BLE MR. JUSTICE GURMEET SINGH
SANDHAWALIA |
View Interim Order |
|
|
Judgment Details
For Case: CWP-10705-2015 |
||||
|
Order Date |
Order Type |
Bench |
Judgment Link |
|
|
12-AUG-15 |
Interim Order |
HON'BLE MR. JUSTICE AJAY KUMAR MITTAL; HON'BLE MR. JUSTICE RAMENDRA
JAIN |
View Order |
|
|
20-JUL-15 |
Interim Order |
HON'BLE THE ACTING CHIEF JUSTICE; HON'BLE MR. JUSTICE GURMEET SINGH
SANDHAWALIA |
View Order |
|
|
26-MAY-15 |
Interim Order |
HON'BLE THE ACTING CHIEF JUSTICE; HON'BLE MR. JUSTICE GURMEET SINGH
SANDHAWALIA |
View Order |
|
|
||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10590361 |
28/08/2015 |
9,912,120,000.00 |
EXPORT-IMPORT BANK
OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
C63894653 |
|
2 |
10573515 |
12/06/2015 |
46,890,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE,, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C55768683 |
|
3 |
10548405 |
16/01/2015 |
1,980,585,600.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C43014448 |
|
4 |
10503421 |
21/05/2014 |
5,000,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C06849988 |
|
5 |
10503438 |
21/05/2014 |
16,000,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE,,COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C06850226 |
|
6 |
10503418 |
21/05/2014 |
5,877,250,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C06852909 |
|
7 |
10504631 |
11/03/2014 |
15,956,447,500.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER, 'E',
CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
C03611217 |
|
8 |
10419715 |
27/12/2013 * |
66,343,593,750.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B93605525 |
|
9 |
10399331 |
30/11/2012 * |
10,200,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B66720103 |
|
10 |
10362414 |
28/06/2012 |
57,090,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B42353763 |
|
11 |
10362413 |
26/06/2012 |
73,507,284,668.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER, 'E',
CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B42353672 |
|
12 |
10353906 |
08/05/2012 |
15,851,863,681.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B39015953 |
|
13 |
10341309 |
19/05/2014 * |
136,000,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
C05731237 |
|
14 |
10325327 |
21/12/2011 |
6,254,000,000.00 |
PUNJAB NATIONAL
BANK |
LARGE CORPORATE
BRANCH, GROUND FLOOR, "E" WING, MAKER TOWER, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B28629616 |
|
15 |
10325341 |
16/12/2011 |
6,254,000,000.00 |
PUNJAB NATIONAL
BANK |
LARGE CORPORATE
BRANCH, GROUND FLOOR, "E" WING, MAKER TOWER, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B28633766 |
|
16 |
10239171 |
18/03/2014 * |
17,100,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER TOWER,
'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C00336800 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
12020.000 |
0.000 |
|
Foreign currency term loans from banks |
15467.000 |
4815.000 |
|
Deferred sales tax loan |
2911.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
00.000 |
119.000 |
|
Foreign currency term loans from banks |
6346.000 |
8286.000 |
|
Term loans from others |
800.000 |
0.000 |
|
|
|
|
|
Total |
37544.000 |
13220.000 |
CORPORATE
INFORMATION
The Company was incorporated in the year 2000 as a wholly owned subsidiary of Hindustan Petroleum Corporation Limited (HPCL), a Government Company under Section 617 of the Companies Act, 1956, for the purpose of setting up an oil refinery (the project) at Bathinda, Punjab. Subsequently the Company, pursuant to a joint venture agreement entered into between HPCL and Mittal Energy Investments Pte. Limited, Singapore (a wholly owned subsidiary of Mittal Investments S.a.r.l, Luxembourg) (Mittal Energy) and receipt of the requisite regulatory approvals, became a joint venture company with equal equity participation by HPCL and Mittal Energy. Further, the Company also has a participating interest of 20% (previous year 20%) in each of the following blocks awarded by the Government of India, which are in the nature of jointly controlled assets, and are operated by third parties. All the blocks are in the exploratory stage.
BUSINESS
OPERATIONS
The Company had geared itself for the operational challenges thrown up during the year. The main thrust during the year was on consolidation of operations which were gradually ramped up and production of the petrochemical polypropylene commenced during the year. Total sales of all products for the year was aggregating to INR 77026.000 Million compared to total sales of INR 76.000 Million in the previous year.
Like any new refinery, Guru Gobind Singh Refinery (GGSR) also faced certain challenges in the initial period but good progress was made across all the key parameters and operations have been steadily stabilized.
The Company is expected to further improve and consolidate its operations in the ongoing financial year i.e. 2013-14 by increase in volumes, monitoring and controlling a better mix of its products and markets towards achieving a better bottom line and reducing cost. Further, in response to changes in the current and forecasted product demand patterns, the refinery’s processing capability will be efficiently adjusted to maximize production of value added products. This change will ensure that the refinery will be positioned at the upper end of the gross refinery margin range when complete year of full operations are achieved during the current financial year 2013-14. The Company has paid attention to up gradation of talent and skills in the refinery staff and management as well as enhancing the management systems.
ACCOLADES AND
AWARDS
During the year the Company was awarded with two prestigious SAP awards towards Best Run Implementation in two categories, namely HR (Joint Winner) and Sourcing and Procurement (Sole Winner). HMEL was also awarded the CIDC "Partners in Progress" award. The award was bestowed on HMEL for display of utmost commitment and drives to create a vibrant work environment for the construction fraternity especially for achieving targets of Mission Skilling India.
MANAGEMENT
DISCUSSION AND ANALYSIS
The year 2012-13 also proved to be a landmark year for the Company as the Guru Gobind Singh Refinery was dedicated to the nation by the Hon’ble Prime Minister on April 28, 2012. The year also marked a paradigm shift for the Company as the refinery strived for stable operations and the first batch of the value added petrochemical Polypropylene was produced and marketed.
OUTLOOK
The fall in industrial production in India has negatively impacted demand for petroleum products. In the backdrop of the geo-political developments like the unrest in Middle East coupled with unprecedented depreciation in the Indian rupee has raised challenges in terms of increased prices of crude and greater pay outs for foreign currency loans. The Company is formulating a long term strategy to tackle any economic hurdles and shall continue to strive for attaining greater heights of operational performance.
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
· Leasehold Improvements
· Railway Sidings
· 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 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. 66.79 |
|
|
1 |
Rs. 101.10 |
|
Euro |
1 |
Rs. 73.10 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.