MIRA INFORM REPORT
|
Report No. : |
355262 |
|
Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN PETROLEUM CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
Petroleum House, 17, Jamshedji Tata Road, Churchgate, Mumbai – 400020,
Maharashtra |
|
Tel. No.: |
91-22-22863900 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
05.07.1952 |
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|
|
|
Com. Reg. No.: |
11-008858 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 3390.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L23201MH1952GOI008858 |
|
|
|
|
IEC No.: |
0388115611 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACH1118B |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
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|
Line of Business
: |
Subject is engaged in
Downstream i.e. Refining and Marketing of Petroleum Products and also
Exploration and Production of Hydrocarbons. (Registered Activity) |
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|
|
|
No. of Employees
: |
10634 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa (87) |
|
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 |
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established and reputed company owned by the
Government of India having an excellent track record. The company has significant position marked by healthy scale of
operations along with sound retail network and branding initiative. Its refineries
have high capacity utilization levels which help to maintain strong operating
efficiency. The rating also take into consideration, an acceptable share price of
Rs. 832.55/- recorded by the company as against a face value of RS. 10. Trade relations are trustworthy. Business is active. Payment terms are
reported to be regular and as per commitment. In view of extensive experience of promoters and long business track,
the company can regarded as a promising business partner for any business
dealings in a medium to long run. |
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 |
CRISIL |
|
Rating |
Long Term=Aaa |
|
Rating Explanation |
Highest degree of safety and Carry lowest
credit risk |
|
Date |
09.11.2015 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term=A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
09.11.2015 |
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 DECLINED BY
|
Name : |
Mr. Ramaswamy Jagannathan |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-80-28078570 |
|
Date : |
17.12.2015 |
LOCATIONS
|
Registered/ Headquarters
Office
: |
Petroleum House, 17, Jamshedji Tata Road, Churchgate, Mumbai – 400020,
Maharashtra |
|
Tel. No.: |
91-22-22026151/ 22863900 |
|
Fax No.: |
91-22-22872992/ 22841573/ 22872992 |
|
E-Mail : |
|
|
Website : |
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|
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|
Marketing
Headquarters Offices : |
Hindustan Bhavan, 8, Shoorji Vallabhdas Marg, P. B. No. 155, Ballard
Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22618031/ 22637000/ 2263 |
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Fax No.: |
91-22-22611822 |
|
|
|
|
Refinery : |
Mumbai Refinery B.D. Patil Marg, Chembur, Mumbai – 400074, Maharashtra, India Visakh Refinery Post Box No. 15, Siripuram Opposite A U Outgate, Vishakhapatnam – 530001, Andhra Pradesh,
India |
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|
|
|
Zonal Offices : |
Located at · Kolkata · Delhi · Visakhapatnam · Ahmedabad · Chennai · Mumbai ·
Lucknow |
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|
|
Research and Development Department : |
HP Green Road Centre, Tarabanahalli, Devangundi Bangalore-560067,
Karnataka, India |
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Regional Office : |
No. 77, Old Madras Road Dooravani Nagar Post Krishnarajpuram, Bangalore-560016,
Karnataka, India |
DIRECTORS
AS ON 31.03.2015
|
WHOLE TIME
DIRECTORS : |
|
|
|
|
|
Name : |
Ms. Nishi Vasudeva |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
30.03.1956 |
|
Qualification : |
B.A., PGDBM (IIM Kolkata) |
|
Date of Appointment : |
01.03.2014 |
|
DIN No.: |
03016991 |
|
|
|
|
Name : |
Mr. Pushp Kumar Joshi |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
08.08.1964 |
|
Qualification : |
B.A., LLB PG (PM & IR), XLRI, Jamshedpur |
|
Date of Appointment : |
18.09.2012 |
|
DIN No.: |
05323634 |
|
|
|
|
Name : |
Mr. K.V. Rao |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
03.09.1955 |
|
Qualification : |
B.Com, FCA. |
|
Date of Appointment
: |
01.06.2013 |
|
DIN No.: |
05340626 |
|
|
|
|
Name : |
Mr. B.K. Namdeo |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
17.10.1956 |
|
Qualification : |
B.E. (Mech) M.Tech (IIT, Mumbai) |
|
Date of Appointment : |
01.07.2013 |
|
DIN No.: |
06620620 |
|
|
|
|
Name : |
Mr. Y. K. Gawali |
|
Designation : |
Whole Time Director (From 10.10.2014) |
|
Date of Birth/Age : |
10.10.1956 |
|
Qualification : |
B.E.
(Civil) |
|
Date of Appointment : |
10.10.2014 |
|
DIN No.: |
05294482 |
|
|
|
|
EX – OFFICIO PART-
TIME DIRECTORS |
|
|
|
|
|
Name : |
Dr. S C Khuntia |
|
Designation : |
Director |
|
Date of Birth/Age : |
21.11.1957 |
|
Qualification : |
IAS Post Graduate in Physics, Economics, Sociology and Ph.D in Art Economics |
|
Date of Appointment : |
18.09.2012 |
|
DIN No.: |
05344972 |
|
|
|
|
Name : |
Mr. R.K. Singh |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.11.1964 |
|
Qualification : |
B.A. (Eco), IAS |
|
Date of Appointment : |
05.09.2013 |
|
DIN No.: |
05193269 |
|
|
|
|
Name : |
Mr. Sandeep Poundrik |
|
Designation : |
Director (From 16.10.2014) |
|
Date of Birth/Age : |
03.10.1068 |
|
Qualification : |
IAS, B.E. (Electrical
Engineering) |
|
Date of Appointment : |
16.10.2014 |
|
DIN No.: |
01865958 |
|
|
|
|
NON OFFICIAL PART
TIME DIRECTOR |
|
|
|
|
|
Name : |
Dr. Gitesh K Shah |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.10.1961 |
|
Qualification : |
D.Sc. (Organic Chemistry) USA Ph.D. (Organic Chemistry) Gujarat University M.Sc. (Organic Chemistry) Gujarat University |
|
Date of Appointment : |
07.12.2009 |
|
DIN No.: |
02330569 |
|
|
|
|
Name : |
Mr. A. C. Mahajan |
|
Designation : |
Director |
|
DIN No.: |
00041661 |
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|
|
|
Name : |
Dr. G. Raghuram |
|
Designation : |
Director |
|
DIN No.: |
01099026 |
|
|
|
|
Name : |
Mr. G. K. Pillai |
|
Designation : |
Director |
|
DIN No.: |
02340756 |
|
|
|
|
Name : |
Mr. Rohit Khanna |
|
Designation : |
Director |
|
DIN No.: |
00004072 |
KEY EXECUTIVES
|
Name : |
Mr. Shrikant M Bhosekar |
|
Designation : |
Company
Secretary |
|
|
|
|
Senior Management
Team : |
NOTE: * On Deputation |
|
|
|
|
Name : |
Mr. Ramaswamy Jagannathan |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2015
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
As a
% of (A+B+C) |
||
|
(A) Shareholding of Promoter and Promoter
Group |
||
|
|
|
|
|
|
173076750 |
51.11 |
|
|
173076750 |
51.11 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
173076750 |
51.11 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
33378453 |
9.86 |
|
|
16193050 |
4.78 |
|
|
66880919 |
19.75 |
|
|
299520 |
0.09 |
|
|
299520 |
0.09 |
|
|
116751942 |
34.48 |
|
|
|
|
|
|
17135798 |
5.06 |
|
|
|
|
|
|
18372359 |
5.43 |
|
|
11407789 |
3.37 |
|
|
1882612 |
0.56 |
|
|
135772 |
0.04 |
|
|
984171 |
0.29 |
|
|
100 |
0.00 |
|
|
487987 |
0.14 |
|
|
18520 |
0.01 |
|
|
28332 |
0.01 |
|
|
224900 |
0.07 |
|
|
2830 |
0.00 |
|
|
48798558 |
14.41 |
|
Total Public shareholding (B) |
165550500 |
48.89 |
|
Total (A)+(B) |
338627250 |
100.00 |
|
(C) Shares held by Custodians and against which
Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
338627250 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in Downstream i.e. Refining and Marketing of Petroleum Products and
also Exploration and Production of Hydrocarbons. (Registered Activity) |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
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Exports : |
Not Divulged |
|
|
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Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
10634 (Approximately) |
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|
Bankers : |
· Bank of India · Citibank N.A. · Corporation Bank · HDFC Bank Limited · ICICI Bank Limited · Punjab National Bank · Standard Chartered Bank · State Bank of India · Union Bank of India |
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Facilities : |
|
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Statutory Auditors
Name 1: |
B. K. Khare and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Statutory Auditors Name
2: |
CVK Associates Chartered Accountant |
|
|
|
|
Branch Auditor : |
Sriramamurthy and Company Chartered Accountants |
|
Address : |
Vishakhapatnam, Andhra Pradesh, India |
|
|
|
|
Cost Auditors Name 1: |
R. Nanabhoy and Company Cost Accountants |
|
Address : |
Jer Mansion, 1st Floor, 70, August Kranti Marg, Mumbai - 400036, Maharashtra, India |
|
|
|
|
Cost Auditors Name 2 : |
CMA Rohit J. Vora Cost Accountants |
|
Address : |
1103, Raj Sunflower, Royal Complex, Eksar Road, Borivali West, Mumbai - 400092, Maharashtra, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Jointly
Controlled entities : |
·
HPCL-Mittal Energy Limited ·
Hindustan Colas Limited ·
South Asia LPG Company Private Limited ·
Petronet India Limited ·
HPCL Shapoorji Energy Limited |
|
|
|
|
Subsidiaries
: |
·
CREDA-HPCL Biofuels Limited ·
HPCL Biofuels Limited ·
Prize Petroleum Company Limited · HPCL Rajasthan Refinery Limited |
|
|
|
|
Jointly
Controlled Entities : |
·
Mangalore Refinery and Petrochemicals
Limited ·
Aavantika Gas Limited ·
Bhagyanagar Gas Limited ·
Petronet MHB Limited ·
GSPL India Gasnet Limited ·
GSPL India Transco Limited · Mumbai Aviation Fuel Farm facility Limited (w.e.f. 20-10-2014) |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000 |
Cumulative Redeemable Preference Shares of Rs 100 each |
Rs.100/- each |
Rs. 7.500 Million |
|
349250000 |
Equity Shares of Rs 10 each |
Rs.10/- each |
Rs. 3492.500 Million |
|
|
Total |
|
Rs. 3500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
|
339330000 |
Equity Shares of Rs 10 each |
Rs.10/- each |
Rs. 3393.300 Million |
|
Less : 702750 |
Shares Forfeited |
|
Rs. 7.000 Million |
|
338627250 |
Equity Shares of Rs 10 each |
Rs.10/- each |
Rs. 3386.300 Million |
|
Add : |
Shares Forfeited (money received) |
|
Rs. 3.900 Million |
|
|
Total |
|
Rs. 3390.100
Million |
a) Reconciliation
of number of Equity Shares
|
|
31.03.2015 |
|
Opening
Balance |
338,627,250 |
|
Shares
Issued \ Shares bought back |
-- |
|
Closing
Balance |
338,627,250 |
b) Details of shares held by each shareholder holding more than 5% shares
in the Company
|
|
31.03.2015 |
|
|
Name of shareholders |
% Holding |
No. of Shares |
|
President of India |
51.11 |
173076750 |
|
Life Insurance Corporation of India |
5.18 |
17531442 |
c) Right and Restrictions on Equity
Shares
The Company has
only one class of Equity Shares having a face value of Rs 10/- per share which
are issued and subscribed. Each Shareholder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting, except in
case of interim dividend. In the event of the winding up of the Company, the
holders of equity shares will be entitled to receive the remaining assets of
the Company in proportion to the number of equity shares held by the
shareholders and the amount paid up thereon. The Company also has 75,000 6%
cumulative Redeemable Non-convertible Preference Shares of Rs 100 /- each as a
part of the Authorised Capital, which were issued earlier by the erstwhile
ESRC. Presently the said Preference Shares stand redeemed.
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 |
3390.100 |
3390.100 |
3390.100 |
|
(b) Reserves & Surplus |
156830.800 |
146731.500 |
133873.900 |
|
(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) |
160220.900 |
150121.600 |
137264.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
148558.300 |
155548.800 |
89471.800 |
|
(b) Deferred tax liabilities (Net) |
41036.000 |
39084.300 |
35983.500 |
|
(c)
Other long term liabilities |
82923.500 |
72075.600 |
62111.900 |
|
(d)
long-term provisions |
5814.700 |
5876.600 |
4989.600 |
|
Total
Non-current Liabilities (3) |
278332.500 |
272585.300 |
192556.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
21998.100 |
163766.700 |
235105.400 |
|
(b)
Trade payables |
89356.500 |
108864.300 |
110719.800 |
|
(c)
Other current liabilities |
101623.200 |
65322.500 |
68795.900 |
|
(d)
Short-term provisions |
23975.200 |
19271.300 |
18005.400 |
|
Total
Current Liabilities (4) |
236953.000 |
357224.800 |
432626.500 |
|
|
|
|
|
|
TOTAL |
675506.400 |
779931.700 |
762447.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
288520.500 |
257971.900 |
224416.700 |
|
(ii)
Intangible Assets |
2107.600 |
1150.500 |
1070.300 |
|
(iii)
Capital work-in-progress |
34744.200 |
45855.600 |
51728.700 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
58675.200 |
57358.300 |
82660.700 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
14298.600 |
15755.500 |
19377.000 |
|
(e)
Other Non-current assets |
1165.500 |
1462.600 |
887.500 |
|
Total
Non-Current Assets |
399511.600 |
379554.400 |
380140.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
53739.600 |
51240.400 |
23608.600 |
|
(b)
Inventories |
129722.600 |
187683.100 |
164387.000 |
|
(c)
Trade receivables |
36030.500 |
54659.500 |
49350.400 |
|
(d)
Cash and cash equivalents |
170.700 |
347.100 |
1471.300 |
|
(e)
Short-term loans and advances |
53065.200 |
103159.500 |
140829.100 |
|
(f)
Other current assets |
3266.200 |
3287.700 |
2660.000 |
|
Total
Current Assets |
275994.800 |
400377.300 |
382306.400 |
|
|
|
|
|
|
TOTAL |
675506.400 |
779931.700 |
762447.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2063803.700 |
2231241.400 |
2065203.000 |
|
|
|
Other Operating Revenue |
2458.100 |
2273.900 |
2019.200 |
|
|
|
Other Income |
11684.100 |
9817.100 |
11023.600 |
|
|
|
TOTAL (A) |
2077945.900 |
2243332.400 |
2078245.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
561584.400 |
619624.900 |
631826.100 |
|
|
|
Purchases of Stock-in-Trade |
1292783.600 |
1451379.500 |
1281639.400 |
|
|
|
Packages Consumed |
2314.000 |
2132.000 |
1831.200 |
|
|
|
Excise Duty on Inventory Differential |
10393.600 |
265.600 |
(2275.400) |
|
|
|
Transshipping Expenses |
49987.500 |
46393.100 |
37854.300 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
37494.400 |
(5744.300) |
8094.500 |
|
|
|
Employees benefits expense |
24146.600 |
20303.000 |
25255.600 |
|
|
|
Exploration Expenses |
271.300 |
2039.700 |
548.100 |
|
|
|
Other expenses |
30620.500 |
44817.100 |
45897.100 |
|
|
|
Prior Period Expenses |
(44.700) |
583.700 |
(1133.900) |
|
|
|
TOTAL (B) |
2009551.200 |
2181794.300 |
2029537.000 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
68394.700 |
61538.100 |
48708.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7065.900 |
13363.600 |
14128.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
61328.800 |
48174.500 |
34580.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19787.600 |
22019.400 |
19835.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41541.200 |
26155.100 |
14745.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14208.600 |
8817.400 |
5698.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
27332.600 |
17337.700 |
9047.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
53139.800 |
42310.300 |
64168.200 |
|
|
TOTAL EARNINGS |
53139.800 |
42310.300 |
64168.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
461385.800 |
578599.400 |
561174.000 |
|
|
|
Stores, Spares and Chemicals |
2971.700 |
850.300 |
888.800 |
|
|
|
Capital Goods, Components and Spares |
326.000 |
689.100 |
1263.300 |
|
|
TOTAL IMPORTS |
464683.500 |
580138.800 |
563326.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
80.72 |
51.20 |
26.72 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term Borrowings |
32797.000 |
2345.000 |
13307.500 |
|
|
|
|
|
|
Cash Generated from Operations |
186032.400 |
91505.100 |
10027.200 |
|
|
|
|
|
|
Net Cash from Operating Activities |
178410.900 |
88075.600 |
8955.500 |
QUARTERLY RESULTS
|
PARTICULARS |
30.09.2015 |
30.06.2015 |
|
Type |
1st Quarter |
2d Quarter |
|
Net Sales |
420722.700 |
518032.600 |
|
Total Expenditure |
421300.900 |
487402.300 |
|
PBIDT (Excl OI) |
(578.200) |
30630.300 |
|
Other Income |
2953.300 |
2309.100 |
|
Operating Profit |
2375.100 |
32939.400 |
|
Interest |
1650.300 |
1227.400 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
724.800 |
31712.000 |
|
Depreciation |
5428.300 |
7507.800 |
|
Profit Before Tax |
(4703.500) |
24204.200 |
|
Tax |
(1498.500) |
8323.800 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
(3205.000) |
15880.400 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
(3205.000) |
15880.400 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.32 |
0.78 |
0.44 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.31 |
2.76 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.14 |
3.86 |
2.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.17 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.27 |
2.14 |
2.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.12 |
0.88 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
Market Value |
Rs. 832.55/- |
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 |
3390.100 |
3390.100 |
3390.100 |
|
Reserves & Surplus |
133873.900 |
146731.500 |
156830.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
137264.000 |
150121.600 |
160220.900 |
|
|
|
|
|
|
Long-term borrowings |
89471.800 |
155548.800 |
148558.300 |
|
Short term borrowings |
235105.400 |
163766.700 |
21998.100 |
|
Current Maturities of
Long-Term Borrowings |
13307.500 |
2345.000 |
32797.000 |
|
Total
borrowings |
337884.700 |
321660.500 |
203353.400 |
|
Debt/Equity
ratio |
2.462 |
2.143 |
1.269 |
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 |
2065203.000 |
2231241.400 |
2063803.700 |
|
|
|
8.040 |
(7.504) |
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 |
2065203.000 |
2231241.400 |
2063803.700 |
|
Profit |
9047.100 |
17337.700 |
27332.600 |
|
|
0.44% |
0.78% |
1.32% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE :- 05.12.2015 |
|
Lodging No: STRL/88/2015 Filing Date: 05/12/2015 |
|
Petitioner: THE
COMMISSIONER OF SALES TAX Respondent: HINDUSTAN PETROLEUM CORPORATION LIMITED Petn. Adv : GOVERNMENT PLEADER ORGINAL SIDE District: MUMBAI Resp. Adv.:- |
|
Bench: DIVISION Status: Pre-Admission
Category: SALES TAX REFERENCES |
|
Act: Sales Tax Act 1979 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10503036 |
11/04/2014 |
1,200,000,000.00 |
OIL INDUSTRY DEVELOPMENT BOARD |
301, WORLD TRADE
CENTRE, 3RD FLOOR,, BABAR ROAD, |
C06664536 |
|
2 |
10501126 |
11/10/2013 |
1,380,000,000.00 |
OIL INDUSTRY DEVELOPMENT BOARD |
301, WORLD TRADE CENTRE,
3RD FLOOR,, BABAR ROAD, |
C05660931 |
|
3 |
10424270 |
04/05/2013 |
9,750,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND
FLOOR, 17, R.KAMANI MARG,, BA |
B74594912 |
|
4 |
10401108 |
01/02/2013 |
5,450,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG,, |
B67275198 |
|
5 |
90238781 |
16/01/2008 * |
40,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS
GROUP, IIIRD FLOOR,, NARIMAN P |
A30866602 |
* Date of charge
modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term Loan from Oil Industry Development Board |
3250.000 |
6975.000 |
|
Syndicated Loans
from Foreign Banks (repayable in foreign currency) |
97820.300 |
75798.800 |
|
Syndicated
Working Capital Loans from Foreign Banks (repayable in foreign currency) |
62505.000 |
59920.000 |
|
Less
: Current Maturities of Long Term Borrowings |
27002.000 |
2345.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Short Term Loans from Banks (repayable in foreign currency) |
0.000 |
130326.000 |
|
Commercial Papers |
0.000 |
6000.000 |
|
|
|
|
|
Total |
136573.300 |
276674.800 |
REFINERY PERFORMANCE
During the year 2014-15,
the refineries have maximized crude processing which enabled a combined
refining thruput of 16.18 MMT (15.51 MMT in 2013-14) which is 109% of the
installed capacity.
The Overall MoU Rating for
the refineries for parameters like Distillate yields, Specific Energy
Consumption, Capacity utilization and Operational Availability, stands at
“Excellent” level.
The refineries have made
remarkable progress in improving yields of value added products and thus
recorded best ever combined distillate yield of 77.5% against a target of
74.9%. This was facilitated by robust secondary processing/treating facilities
at both of our refineries i.e. FCCs and DHDS/DHT which achieved highest ever
thruput and thus maximized production of transportation fuels.
To meet Euro-IV specifications
for diesel, the refineries have set up Diesel Hydrotreater Units (DHT) with
associated facilities at both Mumbai and Visakh Refineries. MR commissioned the
facility during 2013-14 while VR commissioned it during 2014-15. The DHT units
at both refineries were operated on sustained basis during the year and thus
helped record best ever HSD production
MUMBAI REFINERY
The year 2014-15 has been
remarkable for Mumbai Refinery with the crude thruput of 7.41 MMT as against
installed capacity of 6.50 MMT with capacity utilization of 114 %. The
Distillate yields achieved during the year was 75.9 %. The Fuel and Loss of 7.4
% was better than the target of 7.6 %. Mumbai Refinery achieved Specific Energy
Consumption (MBTU/BBL/NRGF) of 79.7 against MoU Excellent target of 82.0.
The refinery recorded best
ever production Viz. HSD and LOBS (SPO II and SPO 90 N) production through
efficient utilization of assets during 2014-15.
VISAKH REFINERY
Visakh Refinery achieved
crude thruput of 8.77 MMT as against installed capacity of 8.30 MMT with
capacity utilization of 106 %. Refinery achieved best ever Distillate yield of
78.8 % during the year. Energy conservation measures have helped in achieving
best ever Specific Energy Consumption (MBTU/BBL/NRGF) of 82.7 against MoU
Excellent target of 84. The Fuel and Loss of 7.4 % was in line with target in
spite of the commissioning and sustained operation of DHT unit.
The
refinery recorded best ever production of LPG, MS and HSD through efficient
utilization of assets during 2014-15.
MARKETING PERFORMANCE
During the year 2014-15 the
Corporation has achieved sales volume (including exports) of 31.95 Million
Tonnes as against 30.96 Million Tonnes recorded in 2013-14. HPCL recorded a
growth of 2.3% in domestic Sales over the sales volume of the previous year,
and amongst public sector oil companies increased its market share to 20.94% as
on 31st March, 2015 from 20.90% recorded in the previous year.
During the year, your
Corporation commissioned 380 new Retail Outlets, which include 101 retail
outlets in the rural areas taking the total tally to 13,233 Retail Outlets.
Your Corporation achieved a sales volume of 21.39 Million Tonnes and increased
its market share in MS and HSD (combined) by 0.05%. In the LPG business line, the
Corporation achieved a highest ever sales volume of 4.670 Million Tonnes and
enrolled 4.226 Million new Gas customers taking their total to 477 lakhs as on
31st March, 2015. In order to provide LPG to rural India, the Corporation
commissioned 366 distributors under the Rajiv Gandhi Gramin LPG Vitaran Yojana.
The Corporation also commissioned 159 Regular LPG distributors.
The Direct Sales Business
line comprises of Industrial and Commercial (I and C) and Lubes and Greases.
The Corporation achieved a sales volume of 3.97 Million Tonnes in the I and C
segment and in the Lubes and Greases segment the sales recorded was 445 TMT.
Products which recorded market share gains were MS, HSD, Furnace Oil, LSHS and
Bitumen packed.
In the Aviation Business
line, the Corporation achieved sales volume of 504 TMT during the year.
In the Natural Gas segment,
7.9 TMT of LNG was sold for the first time during the year 2014-15.
A thruput of 44.38 Million
Tonnes was handled by the POL installations and the Corporation’s pipeline
network achieved a thruput of 14.91 Million Tonnes during the year.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
DEVELOPMENTS
IN THE ECONOMY AND THE OIL SECTOR
The Indian economy has grown
by 7.3% during 2014-15, indicating an improvement in growth prospects.
Agriculture sector growth in 2014-15 was negligible at 0.2% compared to about
4% in 2013-14. Industry and services sector growth improved slightly in
2014-15. Growth rate for industry in 2014-15 was about 6% compared to 4.5% in
2013-14. Services sector growth was 10% in 2014-15 vis-à-vis 9% in 2013-14.
Huge decline in global
commodity prices and continuing slack in the economy eased inflationary
pressures progressively during 2014-15. The Brent crude, having reigned above
100 USD per barrel for four years, fell steeply from June 2014 onwards, ending
up close to USD 45 per barrel by January 2015. An increase in non-OPEC supply
coupled with OPEC decision not to cut production seem to have been the major
factor in play.
Balance of payments
improved during 2014-15 over the preceding year. Fall in trade deficit and
marginal improvement in the net invisible earnings lowered the current account
deficit (CAD). The CAD shrank to US$ 27.5 billion in 2014-15 (1.3 per cent of
GDP) from US$ 32.4 billion (1.7 per cent of GDP) a year ago. India’s exports as
well as imports fell in 2014- 15 compared to previous year. Global growth
remains moderate affecting exports. Fall in oil prices reduced value of oil
imports and hence, total import bill. India’s trade deficit narrowed to US$
144.2 billion in 2014-15 from US$ 147.6 billion in 2013-14. Portfolio and
direct foreign investment flows to India were buoyant in 2014-15. Net foreign
direct investment to India in 2014-15 was US$ 36.6 billion while new portfolio
inflows totalled US$ 41 billion. There was an accretion to India’s foreign
exchange reserves to the tune of US$ 61.4 billion in 2014-15 as compared with
US$ 15.5 billion in 2013-14. At the end of March 2015, the level of foreign
exchange reserves stood at US$ 341.6 billion. In contrast to volatility in the
first half of 2013-14, Indian rupee remained range bound between 59 and 63 per
dollar in 2014-15.
The Diesel prices were
deregulated in October 2014. Falling prices and deregulation reduced the
under-recovery burden. In addition to deregulation of diesel, the government
pushed for direct transfer of subsidy to LPG consumers in a big way.
Petroleum product demand in
the country increased by about 3% to reach about 165 MMT in 2014-15. The growth
is mainly due to increase in Petrol, LPG and Diesel consumption. Petrol and LPG
consumption increased by about 1.9 MMT and 1.7 MMT respectively, registering a
growth rate of 11% and 10% respectively. Diesel consumption increased by about
1 MMT in 2013-14 recording a growth of 1.5% over 2013-14 volume. ATF
consumption in the country increased only marginally by 1%. FO consumption fell
for the seventh consecutive year. Naphtha and Bitumen consumption also declined
during 2014-15.
PERFORMANCE
PROFILE
The Corporation has secured
‘Excellent’ rating in terms of the Memorandum of Understanding (MOU) signed
with the Government of India for the year 2013-14 with an MOU score of 1.257.
For the year 2014-15, HPCL
has achieved its highest ever profit after tax of Rs. 2,733.000 Million
resulting in a significant increase in the earning per share to Rs. 80.72. The
market capitalization of the corporation increased by Rs.11,500.000 Million
during the year and the corporation has proposed it’s highest ever dividend of
Rs. 24.50 per share.
During the year 2014-15,
interest costs came down by nearly 50% - from Rs. 1,336.000 Million to Rs.
707.000 Million. The borrowings were also substantially lower by 37% -. The
average cost of borrowings were also significantly lower due to effective and
proactive Treasury management, aided by the fall in the international prices of
crude and petroleum products and timely receipt of compensation from the Govt
of India.
HPCL also continued its
distinction of getting “Nil Comments” from C and AG on its Annual Accounts.
The
key performance parameters for the year 2014-15 are discussed below:
OUTLOOK
As per the latest World Economic
outlook 2015 of IMF, Global growth is projected at 3.3 percent in 2015,
marginally lower than in 2014, with a gradual pickup in advanced economies and
a slowdown in emerging market and developing economies. In 2016, growth is
expected to strengthen to 3.8 percent.
In emerging market
economies, the continued growth slowdown reflects several factors, including
lower commodity prices and tighter external financial conditions, structural
bottlenecks and rebalancing in China.
India’s growth outlook has
improved since May 2014, helped by lower uncertainty and improved business
confidence. These developments have been accompanied by revival in investment
and industrial activity. GDP growth appears to have accelerated after the new
Initiatives announced by the Govt. of India.
The crude oil prices
hovered in USD 60 per Barrel range during year end and showing signs of
weakening as there is not much of hindrance in supply accompanied by a weaker
demand for oil. Domestically the expectation of pick up in Diesel demand is yet
to materialise immediately and the expectation is that it may happen during the
course of the coming year. Not much volatility is seen in the Exchange rate of
the Rupee .With continued lower oil prices, accompanied by deregulated Petrol and
Diesel markets , the prospects for the downstream companies are expected to be
positive .
PART I
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR
THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2015
(In
Million)
|
|
Particulars |
QUARTER ENDED Unaudited |
HALF YEAR ENDING Unaudited |
|
|
|
|
30.09.2015 |
30.06.2015 |
30.09.2015 |
|
A. |
FINANCIAL
PERFORMANCE |
|
|
|
|
1. |
Income
from Operations |
463122.200 |
548019.600 |
11011141.800 |
|
|
Less:
Excise Duty Paid |
43086.500 |
30815.600 |
73902.100 |
|
|
a)
Net Sales/Income from Operations |
420035.700 |
517204.000 |
937239.700 |
|
|
b)
Other Operating Income |
687.000 |
828.600 |
1515.600 |
|
|
Total
Income from Operations (net) |
420722.700 |
518032.600 |
938755.300 |
|
|
|
|
|
|
|
2. |
Expenses |
|
|
|
|
|
a)
Cost of materials consumed |
110166.300 |
106400.300 |
216566.600 |
|
|
b)
Purchase of traded goods |
257788.200 |
376720.200 |
634508.400 |
|
|
c)
Changes in inventories of finished goods, work-in-progress and traded goods |
25071.700 |
(32773.300) |
(7701.600) |
|
|
d)
Employee benefits expense |
5164.400 |
6340.200 |
11504.600 |
|
|
e)
Depreciation and amortisation expense |
5428.300 |
7507.800 |
12936.100 |
|
|
f)
Other expenses |
23110.300 |
30714.900 |
53825.200 |
|
|
Total
Expenses |
426729.200 |
494910.100 |
921639.300 |
|
|
|
|
|
|
|
3. |
Profit from Operations
before other income, Interest, finance costs and exceptional Items (1-2) |
(6006.500) |
23122.500 |
17116.000 |
|
4. |
Other
Income |
2953.300 |
2309.100 |
5262.400 |
|
5. |
Profit from ordinary
activities before finance costs and exceptional Items (3+4) |
(3053.200) |
25431.600 |
22378.400 |
|
6. |
Finance
costs |
1650.300 |
1227.400 |
2877.700 |
|
7. |
Profit from ordinary
activities after finance costs but before exceptional Items (5-6) |
(4703.500) |
24204.200 |
19500.700 |
|
8. |
Exceptional
Items |
-- |
--- |
-- |
|
9. |
Profit
from ordinary activities before tax (7-8) |
(4703.500) |
24204.200 |
19500.700 |
|
10. |
Tax
expense |
(1498.500) |
8323.800 |
6825.300 |
|
11. |
Profit
from ordinary activities after tax (9-10) |
(3205.000) |
15880.400 |
12675.400 |
|
12. |
Extraordinary
items ( net of tax expense) |
-- |
--- |
-- |
|
13. |
Net
Profit for the period (11-12) |
(3205.000) |
15880.400 |
12675.400 |
|
14. |
Paid
- up Equity Share Capital @ Rs.10 face value |
3386.300 |
3386.300 |
3386.300 |
|
15. |
Reserves excluding
revaluation reserves as per balance sheet |
|
|
|
|
16. |
Earnings Per Share
(before extraordinary items) (of Rs. 10 each) (not annualised) |
|
|
|
|
|
i)
Basic and Diluted before extraordinary items (Rs.) |
(9.46) |
46.90 |
37.43 |
|
|
ii)
Basic and Diluted after extraordinary items (Rs.) |
(9.46) |
46.90 |
37.43 |
|
17. |
Debt
Service Coverage Ratio (DSCR) (No. of time)* |
|
|
6.88 |
|
18. |
Interest
Service Coverage ratio (ISCR) (No. of times)** |
|
|
12.27 |
|
|
B Physical Performance (in MMT) |
|
|
|
|
|
Crude Thruput |
4.21 |
3.75 |
7.96 |
|
|
Market Sales (Including Export) |
7.93 |
8.58 |
16.51 |
|
|
Pipeline Thruput |
4.21 |
4.64 |
8.85 |
|
PART
II |
|
|
|
|
|
Selected
Information For The Quarter and Six Months Ended 30TH SEPTEMBER
2015 |
||||
|
A. |
PARTICULARS
OF SHAREHOLDING |
|
|
|
|
1. |
Public
Shareholding |
|
|
|
|
|
-
Number of Shares |
165550500 |
165550500 |
165550500 |
|
|
-
Percentage of Shareholding (%) |
48.89 |
48.89 |
48.89 |
|
2. |
Promoter
and Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
-
Number of Shares |
Nil |
Nil |
Nil |
|
|
-Percentage
of Shares |
Nil |
Nil |
Nil |
|
|
b)
Non-encumbered |
|
|
|
|
|
-
Number of Shares |
173076750 |
173076750 |
173076750 |
|
|
-Percentage of Shares (as
a % of the total shareholding of promoter and promoter group) |
100 |
100 |
100 |
|
|
-Percentage
of Shares (as a % of the total share capital of the Company) |
51.11 |
51.11 |
51.11 |
|
|
||||
|
|
Particulars |
|
|
30.09.2015 |
|
B. |
INVESTOR
COMPLAINTS |
|
|
|
|
|
Pending
at the beginning of the quarter |
|
|
NIL |
|
|
Received
during the quarter |
|
|
3 |
|
|
Disposed
off during the quarter |
|
|
3 |
|
|
Remaining
unresolved at the end of the quarter |
|
|
NIL |
NOTES:
1. Average Gross Refining Margins during the half year ended
September 2015, were US $ 5.45 per BBL as against US $ 2.09 per BBL during the
corresponding period of previous year.
2. During the period April - Sep 2015, Subsidy from Govt, of India on sale of
PDS Kerosene & Domestic LPG amounting to Nil (April - September 2014: Rs.
3662.500 Million) has been accounted.
3. During the period April - September 2015, discount from upstream oil company
viz., ONGC amounting to Rs. 377.99 crores in respect of Crude Oil purchased
from them has been accounted. During April - September 2014, discount amounting
to Rs. 7,3596.300 Million from upstream oil companies, viz., ONGC & GAIL in
respect of Crude Oil, PDS Kerosene & Domestic LPG purchased from them was accounted.
4. Based on the approval received from Government of India, the Company has
accounted for Budgetary Support amounting to Rs. 8408.900 Million during April
- September 2015 towards under recovery on sale of PDS SKO. During April -
September 2014, Budgetary Support amounting to Rs. 3,9189.500 Million was
accounted towards under-recoveries on sale of PDS SKO, Domestic subsidized LPG
and Diesel.
5. There are no reportable segments other than downstream petroleum, as per AS
-17 on Segment Reporting.
6. Statement of Assets and Liabilities (Stand-alone)
|
Particulars |
As on Half Year Ended |
|
|
|
30.09.2015 |
|
|
|
|
|
|
A. EQUITY AND LIABILITIES |
|
|
|
1.
Shareholders Funds |
|
|
|
a] Share Capital |
3390.100 |
|
|
b] Share Capital Pending Allotment |
0.000 |
|
|
c] Reserves and Surplus |
167402.600 |
|
|
Sub-total –
Shareholders’ funds |
170792.700 |
|
|
|
|
|
|
2. Non-current
Liabilities |
|
|
|
a] Long Term Borrowings |
154055.300 |
|
|
b] Deferred tax Liabilities (Net) |
45215.000 |
|
|
c] Other
Long-Term Liabilities |
89220.200 |
|
|
d] Long Term Provision |
4963.800 |
|
|
Sub-total -
Non-current Liabilities |
293454.300 |
|
|
|
|
|
|
3. Current Liabilities |
|
|
|
a] Short term Borrowings |
32922.800 |
|
|
b] Trade Payables |
93442.400 |
|
|
c] Other Current Liabilities |
119217.500 |
|
|
d] Short Term Provision |
12726.000 |
|
|
Sub-total - Current Liabilities |
258308.700 |
|
|
TOTAL - EQUITY
AND LIABILITIES |
722555.700 |
|
|
|
|
|
|
B ASSETS |
|
|
|
1. Non-current assets |
|
|
|
a] Net Fixed assets |
340898.200 |
|
|
b] Non-current
investments |
59639.900 |
|
|
c]
long Term loans and Advances |
22100.600 |
|
|
d]
Other non-current assets |
1072.300 |
|
|
Sub-total – Non- current assets |
423711.000 |
|
|
|
|
|
|
2.
CURRENT ASSETS |
|
|
|
|
Current Investments |
52009.800
|
|
|
Inventories |
146672.000
|
|
|
Trade Receivables |
22887.300
|
|
|
Cash & Bank Balances |
203.300
|
|
|
Short Term loans and advances |
74091.400
|
|
|
Other Current Assets |
2980.900
|
|
Sub-total – Current Assets |
298844.700
|
|
|
|
|
|
|
TOTAL - ASSETS |
722555.700 |
|
7 The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 09, 2015.
8 The Financial Results have been reviewed by the Statutory Auditors as required under clause 41 of the listing agreement.
9 Previous period's figures have been regrouped/reclassified wherever necessary.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
No provision has been made in the accounts in respect of the following
disputed demands/claims since they are subject to appeals/representations
filed by the Corporation |
|
|
|
Income
Tax |
757.400 |
758.000 |
|
Sales
Tax/Octroi |
24834.300 |
44198.100 |
|
Excise/Customs |
3248.400 |
4245.700 |
|
Land
Rentals & Licence Fees |
1818.300 |
2244.500 |
|
Others |
1112.800 |
1341.600 |
|
Contingent Liabilities not provided for in respect of appeals filed against
the Corporation |
0.000 |
0.000 |
|
Sales
Tax/Octroi |
0.000 |
73.300 |
|
Excise/Customs |
0.000 |
341.100 |
|
Employee
Benefits/Demands |
3627.100 |
3673.400 |
|
Claims
against the Corporation not acknowledged as Debts |
4006.200 |
3754.900 |
|
Others |
3003.800 |
2868.400 |
|
Guarantees given |
1582.800 |
792.700 |
|
Total |
43991.100 |
64291.700 |
FIXED ASSETS:
Tangible Assets
· Land – Freehold
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Transport Equipment
· Office Equipment
· Roads and Culverts
· Leasehold Property – Land
· Railway Siding and Rolling Stock
· Unallocated Capital Expenditure on Land Development
Intangible Assets
· Rights of Way
· Technical/ Process Licenses
· Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.42 |
|
|
1 |
Rs. 99.17 |
|
Euro |
1 |
Rs. 72.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
10 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
10 |
|
--RESERVES |
1~10 |
10 |
|
--CREDIT LINES |
1~10 |
10 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
87 |
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.