MIRA INFORM REPORT
|
Report No. : |
307293 |
|
Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RASHTRIYA ISPAT
NIGAM LIMITED (w.e.f. 10.05.2012) |
|
|
|
|
Formerly Known
As : |
RASHTRIYA ISPAT NIGAM LIMITED |
|
|
|
|
Registered
Office : |
Administrative
Building, Vishakhapatnam – 530031, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.02.1982 |
|
|
|
|
Com. Reg. No.: |
01-003404 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 57398.500 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109AP1982GOI003404 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
VPNR00283D / VPNR00389E / VPNR00390F / VPNR00392A / VPNR00393B
/ VPNR00395D / VPNR00391G / VPNR00394C / VPNR00010D |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
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|
Line of Business
: |
Manufacturing of Steel
Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 350000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects RINL’s established position in the domestic long
steel products segment marked by decent financial base and adequate liquidity
position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 – 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 |
CRISIL |
|
Rating |
Long Term Debt : AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
January 30, 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
Office : |
Administrative
Building, Vishakhapatnam – 530031, Andhra Pradesh, India |
|
Tel. No.: |
91-891-2518325/
538/ 2888360/ 390/ 2888247/ 2518360 |
|
Fax No.: |
91-891-2518753/ 756/
2888316/ 2518321 |
|
E-Mail : |
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|
Website |
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Regional
Office 1 : |
1, |
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|
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|
Regional
Office 2 : |
101, Free Press
House, Nariman Point, Mumbai - 400021, |
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|
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Regional
Office 3 : |
184, Anna Salai, Chennai
- 600006, Tamilnadu, India |
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Regional
Office 4 : |
15, NBCC Tower,
UG Floor, Bhikaji Cama Place, New Delhi – 110066, India |
|
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Factory 1 : |
Vishakhapatnam,
District Vishakhapatnam, |
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Factory 2 : |
Jaggayyapeta,
District Krishna, |
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|
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Factory 3 : |
Madharam,
District Khamman, |
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|
Northern
Region : |
·
6TH Floor, Prakash Deep Building 7,
Tolstoy Marg, New Delhi - 110001, India ·
Block No.38/4-B, F-10 and 11, Near
Punjab and Sind Bank, Friends Centre, Sanjay Place, Agra - 282002, Delhi,
India ·
117/L/452,Channi House, 1st
Floor, Naveen Nagar, Near Double Pullia, Kanpur - 208025, Uttar Pradesh,
India ·
S.C.O.No.141-142, 2nd Floor, Sector
8-C, Chandigarh - 160018, Punjab, India ·
SCO-3, 1st Floor, HUDA
Complex,Sec-19, Mathura Road(NH-2), Faridabad - 121001, Haryana, India ·
B-5, RDC, Shri Ravi Shankar Plaza, Rajnagar,
Ghaziabad - 201001 (Uttar Pradesh), India ·
Meghalaya Towers, 3rd Floor,
Opposite All Saint Church, C-300,
Sansarvilla, MI Road, Jaipur - 302001, Rajasthan, India ·
Master Chambers, 5th Floor, 19, Firoz
Gandhi Market, Ludhiana - 141001, Punjab, India ·
33/20,Ganapati Kunj, Circular Road
Dalanwala, Dehradun-248001, Uttarakhand, India |
|
|
|
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Eastern
Region: |
·
1, Acharya J.C. Bose Road, Kolkata - 700020, West Bengal, India ·
IPICOL House, Annexe Building, 2nd Floor ,Janpath,
Bhubaneswar - 751022, Orissa, India ·
West Boring Canal Road, Patna - 800001, Bihar, India |
|
|
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|
Western
Region: |
·
101, Free Press House, Free Press
Journal Road, Mumbai - 400021, Maharashtra, India ·
NBCC Hours, 1st Floor, Near
Sahajanand College, Opposite Kamadhenu, Complex, Ambawadi, Ahmedabad -
380015, Gujarat, India · 107-109, Rafael Towers, 812,Old Palasia, Indore - 452001, Madhya Pradesh, India ·
3025/8, Shreenidhi Chambers, 1st
Floor, Senapati Bapat Marg, Pune - 411016, Maharashtra, India ·
317, Rabindranath Tagore Road, Civil
Lines, Nagpur - 440001, Maharashtra, India |
|
|
|
|
Southern
Region: |
·
India Garage Building, 184, Anna
Salai, Chennai - 600006, Tamilnadu, India ·
303, 3rd Floor, Mohan Towers, 50,
Residency Road, Bangalore - 560025, Karnataka, India ·
Suguna Building,1st Floor,
707,Avanashi Road, Coimbatore - 641037, Tamilnadu, India ·
Chakos Tower, 2nd Floor, Padma Junction, Padma
Pulleppady Road ·
457/1B1, Deshpande Nagar, Hubli -
580029, Karnataka, India |
|
|
|
|
Andhra Region:
|
· 10-3-311/A, Khanij Bhavan, NMDC Building, Hyderabad - 500028, Andhra Pradesh, India · D-Block, Project Office Complex, Visakhapatnam - 530031, Andhra Pradesh, India |
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D-Block, Project Office , Visakhapatnam - 530031, Andhra Pradesh, India |
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Marketing
Department Visakhapatnam Steel Plant Main Administrative Building, Visakhapatnam – 530 031, Andhra Pradesh, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Ponnapalli Madhusudan |
|
Designation : |
Managing director |
|
Address : |
Steel House, D-6 Director’s Bungalow, Sector-7, Ukkunagaram, Visakhapatnam
530 032, Andhra Pradesh, India. |
|
Date of Birth/Age : |
09.05.1958 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
02845996 |
|
|
|
|
Name : |
Mr. Tapankumar Chand |
|
Designation : |
Director |
|
Address : |
D-1, Director’s Bungalow, Sector-7, Ukkunagaram, Visakhapatnam – 530
032, Andhra Pradesh, India. |
|
Date of Birth/Age : |
17.11.1959 |
|
Date of Appointment : |
22.09.2010 |
|
DIN No.: |
01710900 |
|
|
|
|
Name : |
Mr. Prakashchandra Mohapatra |
|
Designation : |
Whole-time director |
|
Address : |
D-2, Directors Bungalow, Sector 7, Ukkunagaram, Visakhapatnam – 530
032, Andhra Pradesh, India. |
|
Date of Birth/Age : |
04.12.1956 |
|
Date of Appointment : |
01.11.2013 |
|
DIN No.: |
06738364 |
|
|
|
|
Name : |
Mr. Bhavanisankar Prasad Geddam |
|
Designation : |
Whole-time director |
|
Address : |
D-3, Directors Bungalow, Sector 7, Ukkunagaram, Visakhapatnam – 530
032, Andhra Pradesh, India. |
|
Date of Birth/Age : |
04.12.1956 |
|
Date of Appointment : |
01.05.2014 |
|
DIN No.: |
06886500 |
|
|
|
|
Name : |
Mr. Nageswara Rao Dasari |
|
Designation : |
Whole-time director |
|
Address : |
D-4, Directors Bungalow, Sector 7, Ukkunagaram, Visakhapatnam – 530
032, Andhra Pradesh, India. |
|
Date of Birth/Age : |
29.07.1957 |
|
Date of Appointment : |
01.08.2014 |
|
DIN No.: |
06914797 |
|
|
|
|
Name : |
Mr. Venkata Surya Krishnakumar Tenneti |
|
Designation : |
Whole-time director |
|
Address : |
27.05.1956 |
|
Date of Birth/Age : |
D-7, Directors Bungalow, Sector 7, Ukkunagaram, Visakhapatnam – 530
032, Andhra Pradesh, India. |
|
Date of Appointment : |
25.08.2014 |
|
DIN No.: |
06914774 |
|
|
|
|
Name : |
Mr. Vinod Kumar Thakral |
|
Designation : |
Director |
|
Address : |
C-II/164, Satya Marg, Chanakya Puri, New Delhi – 110021, India |
|
Date of Birth/Age : |
02.07.1956 |
|
Date of Appointment : |
31.05.2013 |
|
DIN No.: |
00402959 |
|
|
|
|
Name : |
Mr. Lokeshchandra Jaipal Sharma |
|
Designation : |
Director |
|
Address : |
D-II/351, Pandara Road, New Delhi – 110003, India |
|
Date of Birth/Age : |
30.11.1970 |
|
Date of Appointment : |
13.03.2013 |
|
DIN No.: |
06534076 |
|
|
|
|
Name : |
Mr. Virendra Singh Jain |
|
Designation : |
Director |
|
Address : |
B-12, 2nd Floor, Gyan Bharti School, Lane Saket, New Delhi
– 110017, India |
|
Date of Birth/Age : |
24.07.19466 |
|
Date of Appointment : |
16.05.2012 |
|
DIN No.: |
00253196 |
|
|
|
|
Name : |
Mr. Ashhok Kumar Jain |
|
Designation : |
Director |
|
Address : |
1C/5, New Rohtak Road, New Delhi – 110005, India |
|
Date of Birth/Age : |
17.06.1951 |
|
Date of Appointment : |
14.05.2012 |
|
DIN No.: |
05298647 |
|
|
|
|
Name : |
Mr. Sushil |
|
Designation : |
Director |
|
Address : |
32, Vikarmshila Apartments, IIT Campus, Shaheed Jeet Singh Marg, Hauz
Khas, New Delhi – 110016, India |
|
Date of Birth/Age : |
17.09.1956 |
|
Date of Appointment : |
14.05.2012 |
|
DIN No.: |
05300091 |
|
|
|
|
Name : |
Mr. Suresh Kumar Garg |
|
Designation : |
Director |
|
Address : |
EC 293, Maya Enclave, Harinagar, New Delhi – 110064, India |
|
Date of Birth/Age : |
13.02.1963 |
|
Date of Appointment : |
16.10.2012 |
|
DIN No.: |
06416704 |
KEY EXECUTIVES
|
Name : |
Mr. Ponnaganti Mohan Rao |
|
Designation : |
Secretary |
|
Address : |
317-A, Sector -7, Ukkunagaram, Visakhapatnam – 530032, Andhra Pradesh,
India |
|
Date of Birth/Age : |
14.08.1955 |
|
Date of Appointment : |
01.04.2004 |
|
PAN No.: |
AAQPP4395K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
The president of India |
|
4889845400 |
|
P Madhusudan |
|
300 |
|
Vinod Kumar Thakal |
|
100 |
|
Lokesh Chandra |
|
100 |
|
T K Chand |
|
100 |
|
P C Mohapatra |
|
100 |
|
T V S Krishna Kumar |
|
100 |
|
Total |
|
4889846200 |
|
Names of Shareholders (Prefrence Shares) |
|
No. of Shares |
|
The president of India |
|
800000000 |
|
|
|
|
|
Total |
|
800000000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Government (Central and State) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Steel Products. |
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Products : |
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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 : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
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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Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Tej Raj and Pal Chartered Accountants |
|
Address : |
Visakhapatnam, Andhra Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFT7471J |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Rao and Kumar Chartered Accountants |
|
Address : |
Visakhapatnam, Andhra Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFR5524R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
|
|
|
|
|
Joint Ventures: |
|
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4890000000 |
Equity Shares |
Rs. 10/- each |
Rs. 48900.000 Millions |
|
3110000000 |
Preference Shares |
Rs. 10/- each |
Rs. 31100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 80000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4889846200 |
Equity Shares |
Rs. 10/- each |
Rs.
48898.462 Millions |
|
800000000 |
Preference Shares |
Rs. 10/- each |
Rs. 8000.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 56898.462 Millions |
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4890000000 |
Equity Shares |
Rs. 10/- each |
Rs. 48900.000 Millions |
|
3110000000 |
Preference Shares |
Rs. 10/- each |
Rs. 31100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 80000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4889846200 |
Equity Shares |
Rs. 10/- each |
Rs.
48898.462 Millions |
|
850000000 |
Preference Shares |
Rs. 10/- each |
Rs. 8500.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 57398.500 Millions |
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 |
57398.500 |
63468.200 |
77273.200 |
|
(b) Reserves & Surplus |
64008.900 |
61305.000 |
59319.700 |
|
(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) |
121407.400 |
124773.200 |
136592.900 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12035.300 |
12415.600 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
4190.100 |
2292.100 |
609.800 |
|
(c) Other long term
liabilities |
1655.600 |
1050.000 |
832.300 |
|
(d) long-term provisions |
5314.300 |
4147.700 |
4797.300 |
|
Total
Non-current Liabilities (3) |
23195.300 |
19905.400 |
6239.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
37399.300 |
36584.400 |
25751.400 |
|
(b) Trade payables |
8299.300 |
7379.400 |
3901.900 |
|
(c) Other current liabilities |
54840.500 |
56151.900 |
36458.400 |
|
(d) Short-term provisions |
1576.500 |
1730.900 |
6104.400 |
|
Total
Current Liabilities (4) |
102115.600 |
101846.600 |
72216.100 |
|
|
|
|
|
|
TOTAL |
246718.300 |
246525.200 |
215048.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
45300.300 |
37870.700 |
17836.500 |
|
(ii) Intangible Assets |
27.500 |
27.400 |
31.900 |
|
(iii) Capital work-in-progress |
106694.700 |
99652.400 |
105960.800 |
|
(iv) Intangible assets under
development |
301.100 |
222.000 |
150.100 |
|
(b) Non-current Investments |
3625.300 |
3625.800 |
3625.800 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6160.500 |
4983.600 |
2418.900 |
|
(e) Other Non-current assets |
602.300 |
365.800 |
103.300 |
|
Total
Non-Current Assets |
162711.700 |
146747.700 |
130127.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
38630.400 |
38286.000 |
34031.100 |
|
(c) Trade receivables |
8036.500 |
10096.500 |
4271.500 |
|
(d) Cash and cash equivalents |
1758.900 |
16250.200 |
20683.400 |
|
(e) Short-term loans and
advances |
34613.500 |
34177.500 |
23665.400 |
|
(f) Other current assets |
967.300 |
967.300 |
2269.700 |
|
Total
Current Assets |
84006.600 |
99777.500 |
84921.100 |
|
|
|
|
|
|
TOTAL |
246718.300 |
246525.200 |
215048.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
120283.300 |
121106.900 |
132326.100 |
|
|
Other Income |
3069.900 |
4554.200 |
3283.900 |
|
|
TOTAL
(A) |
123353.200 |
125661.100 |
135610.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
69672.500 |
80464.900 |
84225.500 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
186.500 |
(3037.400) |
453.700 |
|
|
Employees benefits expense |
17500.200 |
14677.500 |
14648.100 |
|
|
Other expenses |
24425.300 |
22980.700 |
19890.400 |
|
|
Prior period items |
(18.800) |
(150.600) |
(62.400) |
|
|
TOTAL
(B) |
111765.700 |
114935.100 |
119155.300 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
11587.500 |
10726.000 |
16454.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3381.200 |
3592.500 |
1906.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8206.300 |
7133.500 |
14548.700 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
2714.800 |
1868.800 |
3448.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
5491.500 |
5264.700 |
11100.100 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
1827.000 |
1736.400 |
3585.500 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
3664.500 |
3528.300 |
7514.600 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export of Goods |
7377.140 |
5977.900 |
4200.500 |
|
|
Other Earnings |
37.400 |
360.200 |
666.700 |
|
|
TOTAL
EARNINGS |
7414.540 |
6338.100 |
4867.200 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
37676.500 |
39960.600 |
50784.100 |
|
|
Components and Spare parts |
876.300 |
890.200 |
767.200 |
|
|
Capital Goods |
1319.400 |
1347.800 |
1926.000 |
|
|
TOTAL
IMPORTS |
39872.200 |
42198.600 |
53477.300 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
62.00 |
48.00 |
12618.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.05 |
2.91 |
5.68 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.63 |
8.86 |
12.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.03 |
3.68 |
10.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.04 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.41 |
0.39 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82 |
0.98 |
1.18 |
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 |
77273.200 |
63468.200 |
57398.500 |
|
Reserves & Surplus |
59319.700 |
61305.000 |
64008.900 |
|
Net
worth |
136592.900 |
124773.200 |
121407.400 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
12415.600 |
12035.300 |
|
Short term borrowings |
25751.400 |
36584.400 |
37399.300 |
|
Total
borrowings |
25751.400 |
49000.000 |
49434.600 |
|
Debt/Equity
ratio |
0.189 |
0.393 |
0.407 |
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 |
132326.100 |
121106.900 |
120283.300 |
|
|
|
(8.478) |
(0.680) |
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 |
132326.100 |
121106.900 |
120283.300 |
|
Profit |
7514.600 |
3528.300 |
3664.500 |
|
|
5.68% |
2.91% |
3.05% |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CASE STATUS INFORMATION SYSTEM
|
WP 35880 / 2014 |
WPSR 192344 / 2014 |
CASE IS:PENDING |
||||||||||||
|
||||||||||||||
|
||||||||||||||
|
||||||||||||||
NOTE: Registered office of the company has been shifted from to the present address w.e.f.
BUSINESS PERFORMANCE
RINL excelled on all fronts in the year 2013-14, in the year 2013-14 securing " Excellent " rating as per MOU with Government of India. A Turnover of Rs134890.000 Millions., was achieved during the year despite a sluggish market. The Company earned Profit after Tax (PAT) of Rs 3660.000 Millions for the FY 2013-14 against Rs 3530.000 Millions of previous year. Lower growth in consumption of steel lead to lower sales realisation which in turn offset the advantage of lower raw material prices during the year.
The company paid an Interim Dividend of Rs 550.000 Millions and Rs 30.000 Millions on Preference shares and Ordinary shares respectively to Govt. of India (GoI) and Board has recommended a Final Dividend of Rs1 Cr and Rs336.400 Millions on Preference shares and Ordinary shares respectively. The total dividend pay-out is 25.28 % (Previous FY 35.86 %) and including dividend tax it is 29.58% (Previous FY 41.77%) of PAT.
The 6.3 Mtpa Expansion Project of RINL is nearing completion with the commissioning of all major units of Stage-1 except Lime Kiln Plant. Production has already commenced from major units including Steel Melt Shop-2 and Wire Rod Mill-2. All attempts are being made to quickly stabilize the units and ramp up the production. All efforts are being put for commissioning of Special Bar Mill (SBM) and Special Structural Mill (STM) under Stage-2 during this fiscal.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Term loans from banks |
29208.600 |
25208.400 |
|
Working capital loans from banks |
2296.300 |
2038.000 |
|
Commercial paper |
0.000 |
3475.800 |
|
Total |
31504.900 |
30722.200 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80009964 |
01/07/2012 * |
2,548,500,000.00 |
BANK OF BARODA |
VADLAPUDI BRANCH, C
BLOCK, PROJECT OFFICE COMPLEX, STEEL PLANT, VISAKHAPATNAM, ANDHRA PRADESH -
530 |
B45537958 |
|
2 |
90139521 |
08/09/2006 * |
945,000,000.00 |
ANDHRA BANK |
VSP STEEL TOWNSHIP
BRANCH, UKKUNAGARAM, VISAKHAP |
- |
|
3 |
80024384 |
08/02/2007 * |
500,000,000.00 |
IDBI BANK |
VISAKHAPATNAM
BRANCH, BALAJI'S MANGALGIRI CHAMBERS |
- |
|
4 |
80024389 |
14/08/2007 * |
800,000,000.00 |
UCO BANK |
VSP BALACHERUVU
BRANCH, SECTOR-3, UKKUNAGARAM, ST |
A22538680 |
|
5 |
80003221 |
16/10/2009 * |
6,000,000,000.00 |
STATE BANK OF HYDERABAD |
SECTOR -1 , STEEL
PLANT, UKKUNAGARAM, VISAKHAPATN |
A71890248 |
|
6 |
80009966 |
12/09/2014 * |
6,150,000,000.00 |
CANARA BANK |
STEEL PLANT BRANCH,
VISAKHAPATNAM, ANDHRA PRADESH |
C23556541 |
|
7 |
90260209 |
30/11/2013 * |
63,200,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, #
43-29-54/8, NARONA ROAD, BAL |
B92563881 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
- Railway sidings
- Bridges roads ports culverts
Intangible assets
- Computer software
- Mining rights
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.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.