MIRA INFORM REPORT

 

 

Report No. :

354965

Report Date :

19.12.2015

 

IDENTIFICATION DETAILS

 

Name :

NCC LIMITED (w.e.f.25.02.2011)

 

 

Formerly Known As :

NAGARJUNA CONSTRUCTION COMPANY LIMITED

 

 

Registered Office :

NCC House, Madhapur, Hyderabad – 500081, Andhra Pradesh

Tel. No.:

91-40-23268888

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

22.03.1990

 

 

Com. Reg. No.:

01-011146

 

 

Capital Investment / Paid-up Capital :

Rs.1111.860 Million

 

 

CIN No.:

[Company Identification No.]

L72200AP1990PLC011146

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDN00212C

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company is engaged in the infrastructure sector, primarily in the construction of industrial and commercial buildings, roads, bridges and flyovers, water supply and environment projects, housing, power transmission lines, irrigation and hydrothermal power projects, real estate development, etc. [Registered Activity]

 

 

No. of Employees :

Not Divulged 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 9150000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Exist

 

 

Comments :

NCC, established on 22nd March 1990, it is established company having satisfactory track record.

 

For the financial year ended 2015, the company has reported healthy operational performance and achieved significant growth in its sales turnover along with a healthy increase into its profitability margin.

 

Further, rating takes consideration on company’s strong financial risk profile marked with decent net worth, favourable gap between trade receivables to its payables, and increased cash and bank balance in FY-15.

 

Rating further drives strength by successful equity infusion of Rs. 6 billion through a rights issue in October 2014, leading to improved liquidity position of the company.

 

Trade relations are reported as fair. Business is active. Payment terms are regular and as per commitment.

 

In view of long history of business operations, the company can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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.

 

 

LOCATIONS

 

Registered Office :

NCC House, Madhapur, Hyderabad – 500081, Andhra Pradesh, India

Tel. No.:

91-40-23268888

Fax No.:

91-40-23125555

E-Mail :

ho.secr@nccltd.in

ariram.madduri@nccltd.in

Website :

http://www.ncclimited.com

 

 

Regional Offices :

Located at

 

·         Ahmedabad

·         Bengaluru

·         Bhopal

·         Bhubaneswar

·         Chennai

·         Delhi

·         Kolkata

·         Kochi

·         Lucknow

·         Mumbai

·         Ranchi

 

 

Overseas Offices :

 

Located at

 

·         Dubai

·         Muscat

·         Doha

·         Riyadh

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Sri T N Manoharan

Designation :

Chairman, Independent Directo

 

 

Name :

Sri R. V. Shastri

Designation :

Independent Director

 

 

Name :

Sri P. Abraham, IAS (Retd.)

Designation :

Independent Director

 

 

Name :

Sri Hemant M Nerurkar

Designation :

Independent Director

 

 

Name :

Smt. Renu Challu

Designation :

Independent Director

 

 

Name :

Sri Amit Dixit

Designation :

Director (Nominee of M/s. Blackstone Group)

 

 

Name :

Sri Neeraj Mohan

Designation :

Additional Director (Nominee of M/s. Blackstone Group)

 

 

Name :

Sri Utpal Sheth

Designation :

Director

 

 

Name :

Sri N. R. Alluri

Designation :

Director

 

 

Name :

Sri A A V Ranga Raju

Designation :

Managing Director

 

 

Name :

Sri A G K Raju

Designation :

Executive Director

 

 

Name :

Sri A S N Raju

Designation :

Wholetime Director

 

 

Name :

Sri J V Ranga Raju

Designation :

Wholetime Director

 

 

Name :

Sri A V N Raju

Designation :

Wholetime Director

 

Name :

Sri A K H S Rama Raju*

Designation :

Wholetime Director

 

 

KEY EXECUTIVES

 

Name :

Mr. R S Raju

Designation :

Chief Financial Officer and Executive Vice President (F and A)

 

 

Name :

Mr. M V Srinivasa Murthy

Designation :

Company Secretary and Sr. VP (Legal)

 

 

SHAREHOLDING PATTERN

 

AS ON 30.09.2015

 

Category of Shareholder

No. of Shares

% of Holdings

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

69725475

12.55

http://www.bseindia.com/include/images/clear.gifBodies Corporate

44472123

8.01

http://www.bseindia.com/include/images/clear.gifSub Total

114197598

20.56

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

114197598

20.56

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

78686426

14.16

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

1678960

0.30

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

147816559

26.61

http://www.bseindia.com/include/images/clear.gifSub Total

228181945

41.07

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

72052058

12.97

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 million

49954385

8.99

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 million

82356093

14.82

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

8783196

1.58

http://www.bseindia.com/include/images/clear.gifClearing Members

4534988

0.82

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

4224906

0.76

http://www.bseindia.com/include/images/clear.gifTrusts

23302

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

213145732

38.37

Total Public shareholding (B)

441327677

79.44

Total (A)+(B)

555525275

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

406313

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

406313

0.00

Total (A)+(B)+(C)

555931588

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in the infrastructure sector, primarily in the construction of industrial and commercial buildings, roads, bridges and flyovers, water supply and environment projects, housing, power transmission lines, irrigation and hydrothermal power projects, real estate development, etc. [Registered Activity]

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

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 :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :
  • State Bank of India
  • Canara Bank
  • Andhra Bank
  • State Bank of Hyderabad
  • Syndicate Bank
  • Indian Overseas Bank
  • Allahabad Bank
  • ICICI Bank
  • Standard Chartered Bank
  • IDBI Bank

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

From Banks

2572.450

60.310

From Other Parties

43.390

157.440

Vehicle Loans from banks

9.250

14.400

SHORT TERM BORROWING

 

 

Working Capital Demand Loan

5918.040

4922.000

Cash Credit

10708.870

13067.670

Term loan

0.000

2599.430

Total

19252.000

20821.250

 

NOTE:

 

LONG TERM BORROWINGS

 

1. 11.95% Redeemable Non-convertible Debentures

 

(i) Debentures numbering to 1,000 having a face value of Rs. 1 million each aggregating to Rs. 1000.000 million privately placed with Life Insurance Corporation of India on February 4, 2009. These are secured by first charge created in favour of IDBI Trusteeship Services Limited, trustees to the debenture holders:

 

-       by way of hypothecation of the Company’s movable properties specified in the Schedule-2 of Memorandum of Hypothecation dated April 25, 2009;

-       First charge by way of equitable mortgage by deposit of title deeds of the Company’s immovable property situated at Gujarat as specified in first schedule to the Debenture Trust Deed dated April 23, 2009;

-       equitable mortgage by deposit of title deeds of Company’s immovable properties situated at Hyderabad, Bangalore, Mumbai and New Delhi as specified in Schedule-A of Declaration and Undertaking dated April 25, 2009.

ii) These debentures are to be redeemed at par in 3 installments in the ratio of 25:25:50 commencing at the end of 3rd year from the date of allotment i.e., February 4, 2012 onwards

 

iii) The debenture holders have consented for deferment of due date for final installment of ` 500.00 million from February 04, 2014 to September 30, 2014 with an increase in rate of interest by 25 basis points effective from February 04, 2014.

 

iv) During the current year the final installment has been repaid.

 

2. 10.50% Redeemable Non-convertible Debentures

 

i) Debentures numbering to 1,000 having a face value of Rs. 1.000 million each comprising of ten (10) Detachable and Separately Transferable, Redeemable Principal Parts (“STRPPS”) aggregating to Rs. 1,000.000 million privately placed during 2009-10 with various banks and financial institutions. These are secured by first charge created in favour of IDBI Trusteeship Services Limited, trustees to the debenture holders, by way of equitable mortgage of the title deeds in respect of the company’s immovable property situated at Kadi Taluka, Mehasana district, Gujarat as specified in the first schedule to the Debenture Trust Deed dated September 15, 2009 and by way of equitable mortgage by deposit of title deeds of the immovable properties of the Company and its subsidiary and its step-down subsidiaries, situated at Hyderabad as specified in Schedule-A to I of Declaration and Undertaking dated October 12, 2009

 

ii) These debentures are to be redeemed at par in 3 installments in the ratio of 30:30:40 commencing at the end of 3rd year from the date of allotment i.e., July 24, 2012 onwards.

 

iii) During the current year these debentures have been fully redeemed.

 

3. 9.50 % Redeemable Non-Convertible Debentures

 

i) Debentures numbering to 500 having face value of Rs. 4.000 million each comprising of four (4) Detachable and Separately Transferable Redeemable principal parts (“STRPPS”) of face value of Rs. 1.000 million each aggregating to Rs. 2,000.000 million privately placed with ICICI Bank Limited.

 

ii) These Debentures are to be redeemed at par in four equated installments commencing at the end of second year from the date of allotment i.e. August 11, 2012 onwards

 

4. Term Loans from Banks

 

i) Term loans from Andhra Bank, State Bank of Hyderabad, State Bank of India, Syndicate Bank, Indian Overseas Bank and Standard Chartered Bank aggregating Rs. 2,572.000 million are secured / to be secured, in terms of the sanction letter, by:

 

-       first parri-passu charge on the properties owned by NCC Limited, NCC Urban Infrastructure Limited, Dhatri Developers and Properties Private Limited and the subsidiaries of NCC Urban Infrastructure Limited

-       pledge of shares of NCC Urban Infrastructure Limited held by NCC Limited.

-       personal guarantees of Sri AAV Ranga Raju, Sri AGK Raju, Sri ASN Raju, Sri AVN Raju, Sri AKHS Rama Raju, Sri NR Alluri and Sri JV Ranga Raju.

 

These loans are repayable in 8 quarterly installments (with a moratorium of 24 months) commencing from September 30, 2016 to June 30,2018 and carry interest rate of 13.50% per annum with monthly rests.

 

ii) HDFC Bank and Indus Ind Bank Limited

 

-       Secured by hypothecation of specific assets purchased out of the loan, comprising Plant and Machinery

iii) Axis Bank Limited and Kotak Mahindra Bank

-       Secured by hypothecation of specific assets purchased out of the loan

 

SHORT TERM BORROWINGS

 

a. Working Capital Demand Loans and Cash Credit facilities availed from consortium of banks are secured by:

 

a) Hypothecation against first charge on stocks, book debts, shares of NCC Infrastracture Holdings Limited (Refer note 14.3) and other current assets of the Company, (excluding specific projects) both present and future, ranking parri passu amongst consortium banks.

 

b) Hypothecation against first charge on unencumbered fixed assets of the Project Division and Light Engineering Division (excluding Land & Buildings) of the Company rank parri passu amongst consortium banks.

 

c) Equitable mortgage of three properties (Land & Buildings).

 

d) The Company availed overdraft facility from ICICI Bank with validity upto August 5, 2015 and is secured, in terms of the sanction letter,by:

 

-       mortagage over immovable fixed assets;

-       pledge of shares of NCC Urban Infrastructure Limited held by NCC Limited;

-       personal guarantees of Sri AAV Ranga Raju, Sri AGK Raju, Sri ASN Raju, Sri AVN Raju, Sri AKHS Rama Raju, Sri NR Alluri and Sri JV Ranga Raju

-        

This facility carries an interest rate of 13.50% per annum.

 

b. Secured - term loans from Banks :

 

a) Collateral security / First charge on immovable property and second charge on current assets of the company

 

b) The company availed short term loans from various banks having a maturity of less than one year and carry interest rate ranging between 12.50% to 14.00 % per annum.

 

c) During the current year these term loans from banks have been fully repaid.

 

c. Unsecured - term loans from Banks:

 

a) Includes an amount of Rs. 948.070 million (31.03.2014: Rs. 948.070 million) availed from Standard Chartered Bank under retention money discounting facility.

 

b) The company availed short term loans from various banks having a maturity of less than one year and carry interest rate ranging between 12.50% to 13.05% per annum

 

c) During the current year these term loans from banks have been fully repaid.

 

d. Unsecured - term loans from Others: having a maturity of less than one year and carry interest rate of 12.00 % per annum and these loans have been fully repaid.

 

Joint Statutory Auditors 1 :

 

Name :

M. Bhaskara Rao and Company

Chartered Accountants

Address :

6-3-652 5-D, Fifth Floor, ‘KAUTILYA’, Amrutha Estates, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India

 

Joint Statutory Auditors 2 :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

1-8-384 and 385, 3rd Floor, Gowra Grand, Sardar Patel Road, Secunderabad – 500003, Andhra Pradesh, India

 

 

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Joint Ventures :
  • Brindavan Infrastructure Company Limited
  • Bangalore Elevated Tollway Limited
  • Pondicherry Tindivanam Tollway Limited
  • Varapradha Real Estates Private Limited
  • NCC – Himachal
  • NCC - NEC – Maytas
  • NCC – VEE
  • Premco – NCC
  • SDB-NCC-NEC
  • NCC-PNC
  • NCC – SJRIPL
  • NCC - MSKE

 

 

Associates :
  • Paschal Form Work (India) Private Limited
    Nagarjuna Facilities Management Services LLC
  • Himalayan Green Energy Private Limited
  • Jubilee Hills Landmark Projects Private Limited
  • Tellapur Technocity (Mauritius)
  • Tellapur Technocity Private Limited
  • Apollonius Coal and Energy Pte. Limited
  • NCC Power Projects Limited
  • Ekana Sportz City Private Limited

 

 

Subsidiaries :
  • NCC Infrastructure Holdings Limited
  • NCC Urban Infrastructure Limited
  • NCC Vizag Urban Infrastructure Limited
  • Nagarjuna Construction Company Limited and Partners LLC
  • OB Infrastructure Limited
  • NCC Infrastructure Holdings Mauritius Pte. Limited
  • Nagarjuna Construction Company International LLC
  • Nagarjuna Contracting Company LLC
  • Patnitop Ropeway and Resorts Limited
  • Western UP Tollway Limited
  • Vaidehi Avenues Limited
  • NCC International Convention Centre Limited
  • NCC Oil & Gas Limited
  • Nagarjuna Construction Company (Kenya) Limited
  • Naftagaz Engineering Private Limited
  • NCC Power Projects (Sompeta) Private Limited
  • Aster Rail Private Limited

 

 

Step-Down Subsidiaries :
  • Liquidity Limited
  • Dhatri Developers & Projects Private Limited
  • Sushanti Avenues Private Limited
  • Sushruta Real Estates Private Limited
  • PRG Estates Private Limited
  • Thrilekya Real Estates Private Limited
  • Varma Infrastructure Private Limited
  • Nandyala Real Estates Private Limited
  • Kedarnath Real Estates Private Limited
  • AKHS Homes Private Limited
  • JIC Homes Private Limited
  • Sushanthi Housing Private Limited
  • CSVS Property Developers Private Limited
  • Vera Avenues Private Limited
  • Sri Raga Nivas Property Developers Private Limited
  • VSN Property Developers Private Limited
  • M A Property Developers Private Limited
  • Vara Infrastructure Private Limited
  • Sri Raga Nivas Ventures Private Limited
  • Mallelavanam Property Developers Private Limited
  • Sradha Real Estates Private Limited
  • Siripada Homes Private Limited
  • NJC Avenues Private Limited
  • NCC Urban Lanka (Private) Limited
  • NCC WLL
  • Al Mubarakia Contracting Company LLC
  • NCCA International Kuwait General Contracts Company LLC
  • Samashti Gas Energy Limited
  • NCC Infra Limited
  • NCC Urban Homes Private Limited
  • NCC Urban Ventures Private. Limited
  • NCC Urban Meadows Private Limited
  • NCC Urban Villas Private Limited
  • Nagarjuna Suites Private Limited

 

 

Enterprises owned or significantly influenced by key management personnel or their relatives :
  • NCC Blue Water Products Limited
  • Swetha Estates
  • NCC Finance Limited
  • Sirisha Memorial Charitable Trust
  • Shyamala Agro Farms Private Limited
  • Ranga Agri Impex Private Limited
  • NCC Foundation
  • Sirisha Projects Private Limited
  • Ruthvik Estates Private Limited
  • Narasimha Developers Private Limited
  • Mihika Agro Farms Private Limited
  • Lalit Agro Farms Private Limited
  • Bhuvanesh Realtors Private Limited
  • Arnesh Ventures Private Limited
  • Suguna Estates Private Limited
  • AVSR Holdings Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

750,000,000

Equity Shares

Rs. 2/- each

Rs. 1500.000 Million

 

 

 

 

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

556,181,588

Equity Shares

Rs. 2/- each

Rs. 1112.360 Million

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

555,931,588

Equity Shares

Rs. 2/- each

Rs. 1111.860 Million

 

 

 

 

 

 

a. Reconciliation of the number of equity shares and amount outstanding at beginning and at end of the year

 

Equity Shares

Number of Shares

Rs. In Million

Balance at beginning of the year

256,583,810

513.170

Add: Equity shares allotted during the year

299,347,778

598.690

Balance at end of the year

555,931,588

1,111.860

 

b. Details of shares held by each shareholder holding more than 5% shares (excluding shares represented by underlying Global Depositary Receipts (GDRs))

 

Name of Shareholder

Number of Shares

% holding

Blackstone GPV Capital Partners Mauritius V-A Limited

55,032,681

9.90

Smt. Rekha Jhunjhunwala

54,233,266

9.76

UTI Mutual Fund

36,371,415

6.54

A V S R Holdings Private Limited

34,052,278

6.13

Warhol Limited

---

---

 

c. Details of unsubscribed equity shares

 

Equity Shares

Number of Shares

Rs. In Million

 

 

 

Equity Shares of Rs. 2/- each

250000

0.500

 

d. Unclaimed equity shares of 109,825 (31.03.2014: 97, 265) are held in “NCC Limited - Unclaimed suspense account“ in trust.

 

e. Rights of the share holders

 

a)  The equity shares of the company having par value of Rs. 2 per share, rank pari passu in all respects including voting rights (except GDRs) and entitlement to dividend. Repayment of the capital in the event of winding up of the Company will inter alia be subject to the provisions of Companies Act 2013, the Articles of Association of the Company and as may be determined by the Company in General Meeting prior to such winding up.

 

b) 18,700 (31.03.2014: 39,700) equity shares represent the shares underlying outstanding GDRs. Each GDR represent one underlying equity share having par value of Rs. 2. The GDRs, rank pari passu in all respects with the equity shares issued by the Company, except in respect of voting rights

 

f. Pursuant to the approval of the shareholders during their meeting held on May 22, 2014, the Authorised equity share capital has been increased from Rs. 600.000 million comprising of 300,000,000 shares of Rs. 2 each to Rs. 1,500.000 million comprising of 750,000,000 shares of Rs. 2 each.

 

g. During the current year, the Company, had offerred 299,347,778 equity shares of Rs. 2 each on rights basis to all the shareholders whose names had appeared in the Register of Members as on record date fixed for the Rights issue i.e September 19, 2014 at a premium of Rs. 18. The rights issue was fully subscribed and 299,347,778 equity shares have been allotted on October 30, 2014.

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1111.860

513.170

513.170

(b) Reserves & Surplus

30932.440

24689.560

24167.170

(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)

32044.300

25202.730

24680.340

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

2625.090

732.150

1716.180

(b) Deferred tax liabilities (Net)

142.220

124.860

231.210

(c) Other long term liabilities

534.710

631.770

543.370

(d) long-term provisions

210.800

197.410

176.530

Total Non-current Liabilities (3)

3512.820

1686.190

2667.290

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

16626.910

22327.170

18842.600

(b) Trade payables

17655.560

15389.670

13989.990

(c) Other current liabilities

24152.840

26542.470

20696.670

(d) Short-term provisions

339.100

126.440

396.810

Total Current Liabilities (4)

58774.410

64385.750

53926.070

 

 

 

 

TOTAL

94331.530

91274.670

81273.700

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

6273.510

6866.690

7122.580

(ii) Intangible Assets

49.330

49.650

62.810

(iii) Capital work-in-progress

78.510

103.620

61.240

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

11567.750

11643.080

12536.230

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1398.880

2564.460

3201.660

(e) Other Non-current assets

1475.990

1187.340

1506.420

Total Non-Current Assets

20843.970

22414.840

24490.940

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.030

0.030

0.030

(b) Inventories

18030.930

15987.500

14263.530

(c) Trade receivables

13632.230

14444.130

11429.520

(d) Cash and cash equivalents

1126.900

687.860

800.040

(e) Short-term loans and advances

27554.220

28174.770

21126.480

(f) Other current assets

13143.250

9565.540

9163.160

Total Current Assets

73487.560

68859.830

56782.760

 

 

 

 

TOTAL

94331.530

91274.670

81273.700

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

82969.430

61173.020

57249.180

 

Other Income

1950.740

1535.300

1258.890

 

TOTAL                                    

84920.170

62708.320

58508.070

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

45558.540

28682.830

22794.360

 

Construction Expenses

26934.060

26649.390

27431.070

 

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

(1029.140)

(2593.640)

(1997.060)

 

Employees benefits expense

2647.000

2403.920

2426.980

 

Other expenses

2365.500

1981.940

1884.900

 

TOTAL                                    

76475.960

57124.440

52540.250

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

8444.210

5583.880

5967.820

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

5735.590

4659.850

4070.380

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

2708.620

924.030

1897.440

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

1118.330

895.130

920.220

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

1590.290

28.900

977.220

 

 

 

 

 

Less

TAX                                                                 

472.370

-376.250

350.560

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

1117.920

405.150

626.660

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

3331.280

3136.170

2749.560

 

 

 

 

 

Less

DEPRECIATION ON TRANSITION TO SCHEDULE II OF THE COMPANIES ACT, 2013

80.400

--

--

 

 

 

 

 

 

PROFIT AVAILABLE FOR APPROPRIATION

4368.800

3541.320

--

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Dividend at Rs.0.30 per share (15%)

222.370

51.320

76.970

 

 

Dividend tax on Proposed dividend

45.270

8.720

13.080

 

 

Transfer to General Reserve

1000.000

150.000

150.000

 

BALANCE CARRIED TO THE B/S

3101.160

3331.280

3136.170

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Material Purchases

1158.600

286.180

89.220

 

 

Capital Goods

242.800

73.430

191.720

 

TOTAL IMPORTS

1401.880

359.610

280.940

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.56

1.58

2.44

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

1320.250

2173.920

1691.310

Cash generated from operations

9067.490

6181.950

4269.980

Net cash flows from (used in) operations

8669.070

6343.910

(584.670)

 

 

QUARTERLY RESULTS

(Rs. In Million)

PARTICULARS

 

30.06.2015

Unaudited

1st Quarter

30.09.2015

Unaudited

2nd Quarter

Net Sales

17225.180

20964.400

Total Expenditure

15640.800

19120.200

PBIDT (Excl OI)

1584.380

1844.200

Other Income

520.110

515.400

Operating Profit

2104.490

2359.600

Interest

1263.390

1310.700

Exceptional Items

NA

NA

PBDT

841.100

1048.900

Depreciation

271.060

279.800

Profit Before Tax

570.040

769.100

Tax

157.960

219.600

Provisions and contingencies

NA

NA

Profit After Tax

412.080

549.500

Extraordinary Items

NA

NA

Prior Period Expenses

NA

NA

Other Adjustments

NA

NA

Net Profit

412.080

549.500

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

1.35

0.66

1.09

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

10.18

9.13

10.42

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.92

0.04

1.42

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

0.00

0.04

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.64

1.00

0.90

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.25

1.07

1.05

 

 

STOCK PRICES

 

Face Value

Rs. 2.00/-

Market Value

Rs. 72.30/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

513.170

513.170

1111.860

Reserves & Surplus

24167.170

24689.560

30932.440

Net worth

24680.340

25202.730

32044.300

 

 

 

 

long-term borrowings

1716.180

732.150

2625.090

Short term borrowings

18842.600

22327.170

16626.910

CURRENT MATURITIES OF LONG-TERM DEBTS

1691.310

2173.920

1320.250

Total borrowings

22250.090

25233.240

20572.250

Debt/Equity ratio

0.902

1.001

0.642

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

57249.180

61173.020

82969.430

 

 

6.854

35.631

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

57249.180

61173.020

82969.430

Profit

626.660

405.150

1117.920

 

1.09%

0.66%

1.35%

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

No

10

Date of Birth of Proprietor / Partners / Directors

No

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

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS:

 

 

CASE STATUS INFORMATION SYSTEM

 

ARBAPPL 132 / 2014

ARBAPPLSR 5860 / 2014

CASE IS:PENDING

 

PETITIONER

RESPONDENT

M/S RAJA RAJESWARI CONSTRUCTIONS (INDIA) PVT. LTD., HYD

  VS

M/S NCC LIMITED, HYD

PET.ADV. : KRISHNA MOHAN SIKHARAM

RESP.ADV. : GANDHAM DURGA BOSE

SUBJECT: ARBITRATION APLICATION

DISTRICT:  HYDERABAD

FILING DATE:  04-09-2014

POSTING STAGE :  FOR ADMISSION & HEARING

 

REG. DATE    :   10-09-2014

LISTING DATE :  11-12-2015

STATUS   :  NOTICES

HON'BLE JUDGE(S):

   

DILIP B. BHOSALE   

 

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

9.50% Redeemable, Non-convertible Debentures

0.000

500.000

SHORT TERM BORROWING

 

 

Term Loans from banks

0.000

1438.070

Term Loans from others

0.000

300.000

Total

0.000

1738.570

 

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10605714

09/11/2015

2,000,000,000.00

State Bank of India

CAG Branch, "Ozone", 2nd Floor,6-6-669, Punjagutt 
a Main Road, Hyderabad, Telangana - 500082, INDIA

C71846497

2

10591122

30/07/2015

6,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL 
W,MUMBAI-400013, Mumbai, Maharashtra - 400013, IND 
IA

C64296254

3

10581064

29/06/2015

2,509,840.00

KOTAK MAHINDRA PRIME LIMITED

27BKC, C 27, G Block, Bandra Kurla Complex, Bandr 
a (E),, Mumbai, Maharashtra - 400051, INDIA

C59429563

4

10573604

01/05/2015

1,929,500.00

SREI EQUIPMENT FINANCE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, West Be 
ngal - 700046, INDIA

C55806715

5

10558164

13/02/2015

1,601,108.00

KOTAK MAHINDRA PRIME LIMITED

27BKC, C 27, G Block, Bandra Kurla Complex, Bandr 
a (E),, Mumbai, Maharashtra - 400051, INDIA

C48387963

6

10544403

29/12/2014

5,235,813.00

KOTAK MAHINDRA PRIME LIMITED

27BKC, C 27, G Block, Bandra Kurla Complex, Bandr 
a (E),, Mumbai, Maharashtra - 400051, INDIA

C41112533

7

10558161

18/10/2014

222,000,000.00

Indian Overseas Bank

Hyderabad Main Branch, #5-1-664, 665&679, Surabhi 
Arcade Bank Street, Koti, Hyderabad, Telangana - 
500001, INDIA

C48386841

8

10521326

19/09/2014

800,000,000.00

Standard Chartered Bank

6-3-1090, Raj Bhavan Road, Somajiguda, Hyderabad, 
Andhra Pradesh - 500082, INDIA

C21861364

9

10518102

16/08/2014

6,277,800.00

SREI EQUIPMENT FINANCE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, West Be 
ngal - 700046, INDIA

C19219872

10

10519539

11/05/2015 *

3,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202, Maker Tower 'E',, Cuffe Parade, Mumbai, Maha 
rashtra - 400020, INDIA

C57801268

 

* Date of charge modification

 

 

CORPORATE INFORMATION:

 

Subject formerly Nagarjuna Construction Company Limited (“NCCL”, / “the Company”) was established as a Partnership firm in 1978, which was subsequently converted into a Limited Company in 1990. The shares of the Company were listed on the stock exchanges in India during 1992 pursuant to the Initial Public Offer of equity shares. The Company is engaged in the infrastructure sector, primarily in the construction of industrial and commercial buildings, roads, bridges and flyovers, water supply and environment projects, housing, power transmission lines, irrigation and hydrothermal power projects, real estate development, etc.

 

 

OPERATIONAL PERFORMANCE

 

You will be glad to note that notwithstanding the difficult phase through which the Indian Construction Industry is passing the Company posted a turnover of Rs. 82969.430 million for the year ended 31st March, 2015 as against Rs. 61173.020 million in 2013-14. Gross Profit increased from Rs. 5583.880 million in 2013-2014 to Rd. 8444.210 million in 2014-15. After deducting financial charges of Rs. 5735.590 million, providing a sum of Rs. 1118.330 million towards depreciation and Rs. 472.370 million for income tax, the operations resulted in a net profit of Rs. 1117.920 million as against Rs. 405.150 million in 2013 -14.

 

 

MANAGEMENT DISCUSSION & ANALYSIS

 

MACRO ECONOMIC REVIEW

 

The Indian GDP grew1 at 7.3% in FY15 as against 6.9% in FY14. Industry growth increased to 5.9% and services sector growth increased to 10.6% in FY15. Agricultural sector growth slipped to 1.1% mainly on account of erratic monsoon.

 

Private consumption recorded a growth of 7.1%. Declining oil prices, weakening food inflation, improved job prospects, and a stable currency helped to lift the consumer confidence. The growth in capital formation was increased from 3.0% in 2013-14 to 4.1% in FY15.

 

Overall, the macroeconomic situation in India improved during 2014-15. Also, in view of the Government’s commitment to reforms, the economic outlook for FY16 looks positive and a GDP growth of over 8% is expected in FY16 as per the projections of the Government.

 

 

INDIA’S INFRASTRUCTURE SECTOR

 

The infrastructure and construction sector remained stressed in FY15 and struggled to deal with structural issues and macro economic factors. Issues such as delays in land acquisition, delays in approvals, delays in payments, delays in settlement of claims, long working capital cycle etc., affected the progress of the projects and Companies. Most Companies have been struggling with liquidity crunch and with their highly leveraged balance sheets. In FY15, the tone of companies across the sector was to deleverage their balance sheets and regain financial strength. Several Companies raised funds through asset monetization, stake sale in subsidiaries, rights issues and Qualified Institutional Placements.

 

Despite the tough ride in FY15, the sector is likely to gradually emerge out of the difficult phase partly on account of the gradual economic recovery expected in FY16 and partly because of the initiatives taken by the new Government.

 

The new Government rolled out initiatives including easing of FDI norms for Construction, Railways, and Defence, liberalization of ECB policy, and providing incentives to promote Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).

 

The Reserve Bank of India (RBI) also introduced initiatives to ease funding availability to infrastructure projects such as providing incentives to banks in the form of exemption from CRR/SLR for long term bonds raised to lend to infrastructure sector, flexibility in refinancing norms for infrastructure projects by way of 5/25 structure etc. The progressive cut in repo rates by RBI was also welcomed by the industry.

 

In Union Budget FY 16, the Government allocated higher funds towards public sector infrastructure projects. The planned allocation for the Ministry of Road and Highways has increased significantly to ` 429 bn for the FY 16 from ` 289 bn in FY14-15. The capital outlay for railways has been increased by ` 101 bn to ` 1000bn

 

The budget also proposes to set-up 5 Ultra Mega Power Projects (UMPPs) totaling 20 GW in the plug-and-play mode wherein all clearances and linkages will be obtained before the award of project. It has also proposed some large infrastructure projects like building 100 smart cities and Sardar Patel Urban Housing Mission, which will provide long term infrastructure opportunities. In the railways sector, the focus is on faster execution of Dedicated Freight Corridor (DFC) which is an important on-going project.

 

It also proposes to introduce Public Contract Dispute Resolution Act, which would aim at quicker resolution of litigations/ disputes in infrastructure projects. Also, the Government has proposed the lowering of the corporate tax rate over the next four years

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2015

(a) Matters under litigation

 

Claims against the company not acknowledged as debt

 

Disputed sales tax / entry tax liability for which the Company preferred appeal

1,190.790

Disputed central excise duty relating to clearance of goods of LED division in favour of Developers of SEZ, for which the Company has filed an appeal to CESTAT, Bangalore

5.730

Disputed service tax liability for which the Company preferred appeal

1,953.570

Disputed Income tax liability for which the Company preferred appeal (Net off Tax Deduction at Source certificates and interest thereon submitted to the Tax Authorities)

120.500

Others

12.530

(b) Guarantees

 

Counter Guarantees and Letter of Credits given to the Bankers *

1,572.320

Performance guarantees, given on behalf of Subsidiaries *

--

Corporate Guarantees given to Banks for financial assistance extended to Subsidiaries.

16116.100

*Excludes Guarantees given against Company’s liabilities, in terms of Guidance Note issued by the Institute of Chartered Accountants of India

 

 

 

Total

20971.540

 

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED 30TH SEPTEMBER 2015

(Rs. in million)

Sr.

No.

 

 

Particulars

Quarter Ended

Quarter Ended

Half Year Ended

30.09.2015

30.06.2015

30.09.2014

Unaudited

Unaudited

Unaudited

Part I

 

 

 

 

1.

Income from Operations

 

 

 

 

a) Net Sales / Income from Operations

20665.200

16979.200

37644.400

 

b) Other Operating Income

299.200

246.000

545.200

 

Total Income from Operations (net)

 

 

 

2.

Expenditure

 

 

 

 

a) Cost of materials consumed

10809.200

9478.900

20288.100

 

b) Changes in inventories of finished goods, work-in-progress and stock-in-trade

(64.500)

(1896.000)

(1960.500)

 

c) Construction Expenses

1825.000

1874.800

3699.800

 

d) Sub contractor work bills

5201.600

5029.800

10231.400

 

e) Employee benefits expense

769.800

689.900

1459.700

 

f) Depreciation and amortisation expense

279.800

271.100

550.900

 

g)  Power and Fuel Charges

0.000

0.000

0.000

 

h) Other expenses

579.100

463.300

1042.400

 

Total Expenses

19400.000

15911.800

35311.800

3.

Profit/ (Loss) from Operations before Other Income, Exchange gain/(loss), Finance costs and Exceptional items (1-2)

1564.400

1313.400

2877.800

4.

Other Income

515.400

520.100

1035.500

5.

Profit /(Loss) from Ordinary activities before finance costs and Exceptional items (3+4a+4b)

2079.800

1835.500

3913.300

6.

Finance Costs

1310.700

1263.400

2574.100

7.

Profit / (Loss) from ordinary activities after Finance costs but before

Exceptional items (5-6)

769.100

570.100

1339.200

8.

Exceptional items

--

--

--

9.

Profit/ (Loss) from ordinary activities before tax (7+8)

769.100

570.100

1339.200

10.

Tax expenses

219.600

158.000

377.600

11.

Net Profit / (Loss) from ordinary activities after tax (9-10)

549.500

412.100

961.600

12.

Extraordinary items

--

--

--

13.

Net Profit / (Loss) for the period (11+12)

549.500

412.100

961.600

14.

Paid-up equity share capital (Face Value of Rs. 10 per share)

1111.900

1111.900

1111.900

15.

Reserve excluding Revaluation reserve

 

 

 

16.

Earnings Per Share (EPS) before and after extraordinary items (of Rs. 10/- each)

a) Basic

b) Diluted

 

 

0.99

0.99

 

 

0.74

0.74

 

 

0.74

1.10

 

 

 

 

 

Part II

S

 

 

 

A.

PARTIULARS OF SHAREHOLDINGS

 

 

 

 

Public Shareholding

 

 

 

 

- Number of Shares

441327677

440894087

441327677

 

- Percentage of Shareholding

79.39%

79.31%

79.39%

 

Promoters and Promoter Group Shareholding

 

 

 

 

a) Pledged/Encumbered

 

 

 

 

- Number of Shares

44150119

44700119

44150119

 

- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)

38.66%

38.94%

38.66%

 

- Percentage of Shares (as a % of the Total Share Capital of the Company)

7.94%

8.04%

7.94%

 

b) Non Encumbered

 

 

 

 

- Number of Shares

70047479

70077912

70047479

 

- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)

61.34%

61.06%

61.34%

 

- Percentage of Shares (as a % of the Total Share Capital of the Company)

12.60%

12.60%

12.60%

 

 

PARTICULARS

For the quarter ended

30th September 2015

B   INVESTORS COMPLAINTS

 

Pending at the beginning of the quarter

Nil

Received during the quarter

83

Disposed during the quarter

83

Remaining unresolved at the end of the quarter

Nil

 

 

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

 

Particulars

As at 30.09.2015

Unaudited

 

Particulars

 

A

EQUITY AND LIABILITIES

 

1

Shareholder’s Funds

 

 

a) Share Capital

1111.900

 

b) Reserves & Surplus

32076.600

 

c) Money received against share warrants

0.000

 

Sub Total- Shareholders funds

33188.500

2

Share application money pending allotment

 

3

Minority Interest

 

4

Non-current liabilities

 

 

(a) Long term borrowings

2383.400

 

(b) Deferred tax liabilities (net)

38.200

 

(b) Other long term liabilities

596.800

 

fc) Long term provisions

212.700

 

Sub Total- Non Current Liabilities

3231.100

5

Current liabilities

 

 

(a) Short term borrowings

18626.00

 

(b) Trade Payables

19113.300

 

(c) Other current liabilities

23701.600

 

(d) Short term provisions

72.300

 

Sub Total- Current Liabilities

61513.200

 

TOTAL-EQUITY AND LIABILITIES

97932.800

B

ASSETS

 

1

Non-current assets

 

 

(a) Fixed assets

6228.300

 

(b) Goodwill on consolidation

--

 

(c) Non-current investment

11567.800

 

(b) Deferred tax assets (net)

--

 

(e) Long term loan and advances

1449.900

 

(f) Other non-current assets

1668.800

 

Sub-Total- Non-current assets

20914.800

2

Current assets

 

 

a) Current Investments

0.000

 

b) Inventories

19685.200

 

c) Trade Receivables

12487.400

 

d) Cash and cash equivalents

1802.600

 

(e) Short term loans and advances

28055.100

 

(f) Other current assets

14987.700

 

Sub-Total- current assets

77018.000

 

TOTAL ASSETS

97932.800

 

FIXED ASSETS:

 

·         Land – Freehold

·         Buildings Own

·         Given under operating lease

·         Plant and Equipment

·         Furniture and Fixtures

·         Construction Vehicles

·         Office Vehicles

·         Office Equipment

·         Lease Hold Improvements

·         Construction Accessories

 

 

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. 66.85

UK Pound

1

Rs. 100.58

Euro

1

Rs. 73.16

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

6

--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

NO

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

50

 

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

 

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

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

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

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

 

Unlimited

71-85

Aa

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

 

Large

56-70

A

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

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

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.