MIRA INFORM REPORT
|
Report No. : |
306670 |
|
Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHUSHAN POWER AND STEEL LIMITED |
|
|
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|
Registered
Office : |
4th Floor, Tolstoy House, 15-17, Tolstoy Marg, Connaught Place,
New Delhi - 110001 |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
22.02.1999 |
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Com. Reg. No.: |
55-108350 |
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Capital
Investment / Paid-up Capital : |
Rs. 2366.466 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100DL1999PLC108350 |
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|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACB9760D |
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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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Line of Business
: |
Manufacturer of steel products. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (24) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. External borrowing of the company seems to be increasing compared to
previous year. The rating also takes into consideration deteriorated liquidity
positon of the company as a result of which the subject has delayed massive
payments to its counterparts in the open market. However, business is active. Payment terms are reported to be slow and
delayed. The company can be considered for business dealings on safe and
secured 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
FITCH |
|
Rating |
Long Term Issuer Rating = IND BB |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
18th September, 2014 |
|
Rating Agency Name |
FITCH |
|
Rating |
Non Fund Based Working Capital Limits = IND A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk |
|
Date |
18th September, 2014 |
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
31-03-2014.
LOCATIONS
|
Registered/ Corporate Office : |
4th Floor, Tolstoy House, 15-17, Tolstoy Marg, Connaught
Place, New Delhi - 110001, India |
|
Tel. No.: |
91-11-30451000 |
|
Mob. No.: |
91-9811798174 (Mr. Nareshchand) |
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Fax No.: |
91-11-23712737/ 30451101 |
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E-Mail : |
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Website : |
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Head Office : |
F Block, 1st Floor, International Trade Tower, Nehru Place,
New Delhi, India |
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Admin./ Network Office : |
J.K. Millennium Center, 6th Floor, 46-D,
Jawahar Lal Nehru Road, Kolkata - 700071, West Bengal, India |
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Tel. No.: |
91-33-30512299/ 30512332/ 3052333 |
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Fax No.: |
91-33-30512235/ 30512297 |
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E-Mail : |
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Manufacturing
Units : |
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Marketing Offices : |
Located at: North
South
East
West
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Network Offices : |
Located at: CHANDIGARH OFFICE Plot No. 3, Industrial Area, Phase – I, Chandigarh - 160002, India Phone : 91-172-3911702/ 3911703 Fax : 91-172-3911704 E-mail : chandigarh@bpsl.net ORISSA OFFICE Village Thelkoloi, P.O.
Lapanga, Tehsil - Rengoli, District Sambalpur - 768232 Phone: 91-663-2535000/ 2562026-32 Fax: 91-663-2562007/ 2562011 E-mail : orissa@bpsl.net DERABASSI OFFICE Chandigarh Ambala Road, Derabassi - 140507, District
Patiala, Punjab, India Fax: 91-1762-307902 E-mail : bhushandrb@bpsl.ne |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Sanjay Singal |
|
Designation : |
Managing Director |
|
Address : |
61, Sector 5, Chandigarh, India |
|
Date of Birth/Age : |
19.06.1960 |
|
Qualification : |
Graduate |
|
Experience : |
33 Years |
|
Date of Appointment : |
30.06.2013 |
|
PAN No.: |
ANRPS7985C |
|
DIN No.: |
00006579 |
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|
Name : |
Mrs. Aarti Singal |
|
Designation : |
Vice Chairperson and Whole Time Director (Admin) |
|
Address : |
61, Sector 5, Chandigarh, India |
|
Date of Birth/Age : |
08.03.1961 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.09.2010 |
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PAN No.: |
AEFPS6299L |
|
DIN No.: |
00007698 |
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Name : |
Mr. Ravi Prakash Goyal |
|
Designation : |
Whole Time Director (Commercial) |
|
Address : |
House No. 157, Sector 16, Panchkula – 134112, Haryana, India |
|
Date of Birth/Age : |
09.09.1951 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.03.2011 |
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PAN No.: |
ADAPG0813G |
|
DIN No.: |
00006595 |
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|
Name : |
Mr. Hardev Chand Verma |
|
Designation : |
Director |
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Address : |
14/4A, Burdwan Road, Alipore, Kolkata, West Bengal, India |
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Date of Birth/Age : |
15.11.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.03.2011 |
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PAN No.: |
ABVPV6037G |
|
DIN No.: |
00007681 |
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|
Name : |
Mr. Ram Naresh Yadav |
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Designation : |
Whole Time Director (Technical) |
|
Address : |
14/4A, Burdwan Road, Alipore, Kolkata, West Bengal, India |
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Date of Birth/Age : |
16.07.1959 |
|
Qualification : |
B Tech |
|
Date of Appointment : |
14.06.2003 |
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PAN No.: |
AAAPY4673M |
|
DIN No.: |
00006697 |
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|
|
|
Name : |
Mr. Ram Dev Batra |
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Designation : |
Director |
|
Address : |
4148, Pocket 4, Sector D, Vasant Kunj, New Delhi -110001, India |
|
Date of Birth/Age : |
16.05.1936 |
|
Qualification : |
B Tech |
|
Date of Appointment : |
01.03.2001 |
|
DIN No.: |
00007769 |
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|
|
|
Name : |
Mr. Dinesh Kumar Behal |
|
Designation : |
Director |
|
Address : |
House No. 3235, Phase – II, Dugri Road, Urban Estate, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
19.02.1958 |
|
Qualification : |
ICWAI |
|
Date of Appointment : |
19.06.2006 |
|
DIN No.: |
00011735 |
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|
|
|
Name : |
Mr. Jimmy Lachmandas Mahtani |
|
Designation : |
Nominee Director |
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Address : |
APT BLKI, Chatsworth Road, #22-21, Singapore |
|
Date of Birth/Age : |
27.10.1976 |
|
Date of Appointment : |
23.05.2012 |
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DIN No.: |
00996110 |
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|
|
Name : |
Mr. Anil Shridhar Supanekar |
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Designation : |
Director |
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Address : |
A1002/1003, DSK Chandnadeep, Mukund Nagar, Pune, Maharashtra, India |
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Date of Birth/Age : |
24.10.1940 |
|
Qualification : |
B Tech |
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Date of Appointment : |
20.07.2007 |
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DIN No.: |
00023254 |
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|
|
|
Name : |
S. N. Baheti |
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Designation : |
Nominee Director (Tech.) |
KEY EXECUTIVES
|
Name : |
Mr. Ravinder Kumar Gupta |
|
Designation : |
Secretary |
|
Address : |
2147/3, Sector 45 C, Chandigarh – 160002, Punjab, India |
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Date of Birth/Age : |
31.05.1958 |
|
Date of Appointment : |
21.09.2000 |
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PAN No.: |
ADOPG2712Q |
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Name : |
Mr. R K Rastogi |
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Designation : |
Vice President Finance |
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Name : |
Mr. Nareshchand |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Equity Shareholders |
No. of Shares |
% holding in the class |
|
Vision Steel Limited |
41068673 |
21.20% |
|
Diyajyoti Steel Limited |
40032750 |
20.67% |
|
Jasmine Steel Trading Limited |
39772500 |
20.53% |
|
Marsh Steel Trading Limited |
39553500 |
20.42% |
|
Sh. SanjaySingal |
12585436 |
6.50% |
|
Baring Private Equity Asia lll Mauritius
Holding (3) Limited |
10714285 |
5.53% |
|
2% Cumulative Compulsory Convertible Preference Shares |
No. of Shares |
% holding in the class |
|
Vision Steel Limited |
767455 |
17.88% |
|
Diyajyoti Steel Limited |
728355 |
16.97% |
|
Jasmine Steel Trading Limited |
734880 |
17.12% |
|
Marsh Steel Trading Limited |
742915 |
17.30% |
|
Sh. SanjaySingal |
440390 |
10.26% |
|
Smt Aarti Singal |
429560 |
10.01% |
|
Sh. SanjaySingal (HUF) |
263350 |
6.13% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of steel products. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Mehra Goel and Company Chartered Accountants |
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Address : |
505, |
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E-Mail : |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AABFM1488M |
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Cost
Auditors : |
|
|
Name : |
J.K. Kabra and Company Chartered Accountants |
|
Address : |
New Delhi |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate: |
· Nova Iron and Steel Limited · Ambey Steel and Power Private Limited · Aarti Minerals (Austrlia) Pty Limited · Jasmine Steel Trading Limited · Marsh Steel Trading Limited · Vision Steel Limited · Diyajyoti Steel Limited |
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Joint Venture : |
· Rohne Coal Company Private Limited |
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|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
· Arti International Limited · Atma Ram House Investment Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375000000 |
Equity Shares |
Rs.10/- each |
Rs.3750.000 Millions |
|
7500000 |
Preference Share |
Rs.100/- each |
Rs. 750.000 Millions |
|
|
Total |
|
Rs. 4500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
193715000 |
Equity Shares |
Rs.10/- each |
Rs.1937.150 Millions |
|
4293155 |
Preference Share |
Rs.100/- each |
Rs. 429.316 Millions |
|
|
Total |
|
Rs. 2366.466
Millions |
Details of Shareholders holding more than 5%shares in the company
|
Equity Shares of Rs. 10 Each fully paid |
No. of Shares |
% holding in the class |
|
Vision Steel Limited |
41068673 |
21.20% |
|
Diyajyoti Steel Limited |
40032750 |
20.67% |
|
Jasmine Steel Trading Limited |
39772500 |
20.53% |
|
Marsh Steel Trading Limited |
39553500 |
20.42% |
|
Sh. SanjaySingal |
12585436 |
6.50% |
|
Baring Private Equity Asia lll Mauritius
Holding (3) Limited |
10714285 |
5.53% |
2% Cumulative Compulsory Convertible Preference Shares of Rs. 100 each
|
|
No. of Shares |
% holding in the class |
|
Vision Steel Limited |
767455 |
17.88% |
|
Diyajyoti Steel Limited |
728355 |
16.97% |
|
Jasmine Steel Trading Limited |
734880 |
17.12% |
|
Marsh Steel Trading Limited |
742915 |
17.30% |
|
Sh. SanjaySingal |
440390 |
10.26% |
|
Smt Aarti Singal |
429560 |
10.01% |
|
Sh. SanjaySingal (HUF) |
263350 |
6.13% |
Reconciliation of Share outstanding at the beginning and at end of the reporting
period
|
Equity Shares of Rs. 10 Each fully paid |
No. of Shares |
% holding in the class |
|
Equity Shares |
|
|
|
Equity Shares at the beginning of the year |
193715000 |
1937.150 |
|
Add: Equity shares issued/cancelled during
the year |
-- |
-- |
|
Equity shares outstanding at the end of the
year |
193715000 |
1937.150 |
2% Cumulative Compulsory Convertible Preference Shares of Rs. 100 each
fully paid
|
Equity Shares of Rs. 10 Each fully paid |
No. of Shares |
% holding in the class |
|
Preference Shares at the beginning of the
year |
761867 |
76.187 |
|
Add: Fresh issue of Preference shares during
the year |
3531288 |
353.129 |
|
Less: Redeemed/cancelled during the year |
-- |
-- |
|
Preference shares outstanding at the end of the
year |
4293155 |
429.316 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2366.466 |
2013.337 |
1937.150 |
|
(b) Reserves &
Surplus |
78786.254 |
60722.450 |
52652.758 |
|
(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) |
81152.720 |
62735.787 |
54589.908 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
224088.392 |
179971.013 |
132105.195 |
|
(b) Deferred tax
liabilities (Net) |
14008.309 |
11008.309 |
7958.309 |
|
(c) Other long term
liabilities |
11882.704 |
20661.644 |
16089.221 |
|
(d) long-term provisions |
287.161 |
283.478 |
103.415 |
|
Total Non-current
Liabilities (3) |
250266.566 |
211924.444 |
156256.140 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
49854.240 |
48603.314 |
36494.983 |
|
(b) Trade payables |
13469.335 |
9119.109 |
9491.993 |
|
(c) Other current
liabilities |
24535.218 |
22911.799 |
13483.084 |
|
(d) Short-term provisions |
733.593 |
271.983 |
299.866 |
|
Total Current Liabilities
(4) |
88592.386 |
80906.205 |
59769.926 |
|
|
|
|
|
|
TOTAL |
420011.672 |
355566.436 |
270615.974 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
229816.877 |
137422.703 |
125469.041 |
|
(ii) Intangible Assets |
180.210 |
11.462 |
7.214 |
|
(iii) Capital
work-in-progress |
105783.141 |
141939.816 |
84419.515 |
|
(iv) Intangible assets
under development |
0.000 |
149.344 |
0.000 |
|
(b) Non-current
Investments |
1220.696 |
1220.696 |
1013.858 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16072.754 |
11316.363 |
6367.803 |
|
(e) Other Non-current
assets |
197.655 |
337.930 |
65.233 |
|
Total Non-Current Assets |
353271.333 |
292398.314 |
217342.664 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
94.909 |
212.206 |
453.787 |
|
(b) Inventories |
31821.129 |
19927.145 |
17648.281 |
|
(c) Trade receivables |
16243.669 |
17184.061 |
11090.131 |
|
(d) Cash and cash
equivalents |
1760.426 |
7336.532 |
8604.496 |
|
(e) Short-term loans and
advances |
16810.530 |
18508.178 |
15476.615 |
|
(f) Other current assets |
9.676 |
0.000 |
0.000 |
|
Total Current Assets |
66740.339 |
63168.122 |
53273.310 |
|
|
|
|
|
|
TOTAL |
420011.672 |
355566.436 |
270615.974 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
103783.615 |
86697.613 |
67510.904 |
|
|
Other Income |
31.851 |
52.698 |
29.236 |
|
|
TOTAL (A) |
103815.466 |
86750.311 |
67540.140 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
46506.960 |
42985.178 |
29374.474 |
|
|
Purchases of
Stock-in-Trade |
3323.810 |
2916.564 |
856.140 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.323) |
(2687.922) |
4016.266 |
|
|
Employees benefits
expense |
2752.188 |
2235.417 |
1893.052 |
|
|
Other expenses |
18748.827 |
14249.777 |
10839.310 |
|
|
TOTAL (B) |
71296.462 |
59699.014 |
46979.242 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
32519.004 |
27051.297 |
20560.898 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
14380.289 |
10816.537 |
7360.448 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
18138.715 |
16234.760 |
13200.450 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8783.827 |
7465.512 |
5059.775 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
9354.888 |
8769.248 |
8140.675 |
|
|
|
|
|
|
|
Less |
TAX (H) |
3000.000 |
3050.000 |
2800.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
6354.888 |
5719.248 |
5340.675 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
14841.900 |
11210.400 |
7878.100 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
3300.000 |
2076.400 |
2000.000 |
|
|
Dividend |
2.400 |
1.600 |
1.200 |
|
|
Convertible Preference
Shares |
4.600 |
0.010 |
0.000 |
|
|
Tax on Dividend |
9.700 |
9.700 |
7.200 |
|
|
Total (K) |
3316.700 |
2087.710 |
2008.400 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J-K) |
17880.088 |
14841.938 |
11210.375 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
22656.904 |
15019.412 |
13849.910 |
|
|
Interest |
0.000 |
0.000 |
8.472 |
|
|
TOTAL EARNINGS |
22656.904 |
15019.412 |
13858.382 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
9436.996 |
9754.026 |
7486.365 |
|
|
Raw Material Traded |
2563.024 |
2380.581 |
0.000 |
|
|
Stores and Spares |
596.737 |
398.902 |
334.782 |
|
|
Capital Goods |
2168.313 |
6607.684 |
6195.772 |
|
|
TOTAL IMPORTS |
14765.070 |
19141.193 |
14016.919 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
|
Basic |
32.79 |
29.52 |
37.00 |
|
|
Diluted |
26.33 |
25.63 |
32.26 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/ Sales) |
(%) |
6.12 |
6.60 |
7.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
31.33 |
31.20 |
30.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.99 |
4.13 |
4.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.38 |
3.64 |
3.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75 |
0.78 |
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
1937.150 |
2013.337 |
2366.466 |
|
Reserves & Surplus |
52652.758 |
60722.450 |
78786.254 |
|
Net worth |
54589.908 |
62735.787 |
81152.720 |
|
|
|
|
|
|
long-term borrowings |
132105.195 |
179971.013 |
224088.392 |
|
Short term borrowings |
36494.983 |
48603.314 |
49854.240 |
|
Total borrowings |
168600.178 |
228574.327 |
273942.632 |
|
Debt/Equity ratio |
3.088 |
3.643 |
3.376 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
67510.904 |
86697.613 |
103783.615 |
|
|
|
28.420 |
19.708 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
67510.904 |
86697.613 |
103783.615 |
|
Profit |
5340.675 |
5719.248 |
6354.888 |
|
|
7.91% |
6.60% |
6.12% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------------------------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Banks |
3000.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
From Banks |
|
|
|
Commercial Paper |
800.000 |
2500.000 |
|
Rupee Loans |
0.000 |
500.000 |
|
From Others |
|
|
|
Loan from Related Party |
100.148 |
0.000 |
|
Total |
3900.148 |
3000.000 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10520691 |
08/09/2014 |
600,000,000.00 |
AXIS BANK LTD. |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
C21237128 |
|
2 |
10509764 |
10/07/2014 |
400,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
HOTEL NIDHI
COMPLEX, POWER HOUSE ROAD, ROURKELA, |
C11848454 |
|
3 |
10511997 |
02/07/2014 |
300,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE
BRANCH, E BLOCK, CONNAUGHT PLACE, |
C14433205 |
|
4 |
10505248 |
25/06/2014 |
1,500,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH, SCO 117-119, SECTOR 17-C, |
C08545543 |
|
5 |
10506847 |
25/06/2014 * |
4,000,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICE BRANCH, 3, WALCHAND, |
C11848116 |
|
6 |
10504097 |
25/06/2014 * |
1,000,000,000.00 |
BANK OF INDIA |
MID CORPORATE BRANCH, SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
C11989431 |
|
7 |
10496263 |
25/06/2014 * |
1,500,000,000.00 |
ALLAHABAD BANK |
MADHYA MARG, SECTOR
8-C, CHANDIGARH, CHANDIGARH - |
C15315740 |
|
8 |
10505760 |
25/06/2014 * |
3,000,000,000.00 |
BANK OF MAHARASHTRA |
SOUTH EXTENSION, PART I, A-13, RING ROAD,, NEW DELHI, DELHI - 110049, INDIA |
C15727530 |
|
9 |
10494073 |
25/06/2014 * |
5,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, PNB HOUSE, SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
C13663364 |
|
10 |
10494071 |
29/03/2014 |
1,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, PNB HOUSE, SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
C04438263 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Bills discounted with banks |
4323.949 |
1746.869 |
|
Claims against the Company not acknowledged as debt |
1260.142 |
1300.870 |
|
Central / State Sales Tax Act |
814.587 |
680.245 |
|
Odisha Entry Tax Act |
51.698 |
51.698 |
|
Central Excise Act,1944 |
1379.126 |
501.003 |
|
Income Tax Act,1961 |
384.737 |
537.305 |
|
Service Tax |
1.093 |
1.456 |
FIXED ASSETS
Tangible Assets
- Freehold Land
- Leasehold Land
- Building
- Railway Siding
- Plant and Equipment
- Furniture and Fixture
- Office Equipment
- Vehicles
- Assets not owned by the Company
Intangible Assets
- Technical Knowhow
- Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.15 |
|
|
1 |
Rs. 94.72 |
|
Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
24 |
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.