MIRA INFORM REPORT
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Report No. : |
302518 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MCNALLY BHARAT ENGINEERING COMPANY LIMITED (w.e.f.1972) |
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Formerly Known
As : |
MCNALLY BIRD ENGINEERING COMPANY LIMITED |
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Registered
Office : |
4, Mangoe Lane, 7th
Floor, Kolkata – 700001, West Bengal |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.07.1961 |
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Com. Reg. No.: |
21-025181 |
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Capital Investment
/ Paid-up Capital : |
Rs.408.438 Millions |
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CIN No.: [Company Identification
No.] |
L45202WB1961PLC025181 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM08976C /
RCHM01882G |
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PAN No.: [Permanent Account No.] |
AABCM9443R |
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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 equipment’s for various engineering and infrastructure
projects and also providing turnkey solutions in the areas of power, steel,
aluminum, material handling, cement, oil and gas, civic and industrial water
supply etc. |
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|
|
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having a satisfactory track
record. The company has incurred a loss from its operations during 2014. However,
general financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long Term Bank facilities = BBB |
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Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
14.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
14.10.2014 |
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 : |
4, Mangoe Lane, 7th
Floor, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22138901-05/ 08 / 22480847/ 0919/ 65500725-39 |
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Fax No.: |
91-33-22480340/ 22485016/ 22303519 |
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E-Mail : |
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Website : |
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Head/ Corporate Office : |
Ecospase, 11F/12 (Old Plot No. AA-II/Blk-3), New Town, Rajaarhat,
North 24, Parganas, Kolkata - 700156, West Bengal, India |
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Tel. No.: |
91-33-30141111/ 66281111 |
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Fax No.: |
91-33-30142277/ 66282277 |
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E-Mail : |
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Factory : |
Plot No.313, 3rd Phase, Malur Industrial Area, Malur, Kolar -
563130, Karnataka, India |
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Tel. No.: |
91-8151-292469-71/ 292171-74/ 292191 |
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Work and Sales Offices : |
·
PO Kumardhubi, District Dhanbad - 828203, Jharkhand,
India Phone : 91-6540-273010 /
11 / 16 / 272235 / 197215 Fax : 91-6540-273024 /
273015 Email : mse.kdb@mbecl.co.in ·
Plot No.M-16, ADDA Industrial Area, PO R.K. Mission,
Asansol – 713305, West Bengal, India Phone : 91-341-6554031 /
6554490 Email : mse.asn@mbecl.co.in ·
3rd Floor, Maruthi Towers, 9th Main, Ex. Chairman
Layout, Banaswadi Main Road, Bangalore - 560034, Karnataka, India Phone :
91-80-41153781-83 Fax : 91-80-41153784 Email : mse.blr@mbecl.co.in
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Regional Offices : |
Located at: ·
Navi Mumbai ·
Faridabad ·
Chennai |
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Branch Offices : |
Located at:
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DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Deepak Khaitan |
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Designation : |
Executive Chairman |
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Address : |
10 Queens Park,
P.O. Ballygunge, Kolkata - 700019, West Bengal, India |
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Date of
Appointment : |
15.09.2008 |
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DIN No.: |
00023780 |
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Name : |
Mr. Aditya Khaitan |
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Designation : |
Director |
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Address : |
10 Queens Park,
P.O. Ballygunge, Kolkata - 700019, West Bengal, India |
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Date of
Appointment : |
23.09.2011 |
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DIN No.: |
00023788 |
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Name : |
Mr. Virendra Kumar Verma |
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Designation : |
Director |
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Address : |
69 Darya Ganj, Bharat Ram Road, New
Delhi - 110002, India |
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Date of
Appointment : |
29.11.1978 |
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DIN No.: |
00766426 |
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Name : |
Mr. Utsav Parekh |
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Designation : |
Director |
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Address : |
2/3 Sarat Bose Road, P.O. Elgin Road, Kolkata - 700020,
West Bengal, India |
|
Date of
Appointment : |
10.09.2007 |
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DIN No.: |
00027642 |
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Name : |
Mr. Amritanshu Khaitan |
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Designation : |
Director |
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Address : |
10 Queens Park, P.O.
Ballygunge, Kolkata - 700019, West Bengal, India |
|
Date of
Appointment : |
23.09.2011 |
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DIN No.: |
00213413 |
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Name : |
Mr. Subir Ranjan Dasgupta |
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Designation : |
Director |
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Address : |
1 Peck Hay Road, # 12-03, Singapore - 228305, , Singapore |
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Date of
Appointment : |
21.06.2007 |
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DIN No.: |
01401511 |
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Name : |
Mr. Asim Kumar Barman |
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Designation : |
Director |
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Address : |
CL -35, Sector -II, Salt Lake,
Kolkata - 700091, West Bengal, India |
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Date of
Appointment : |
01.12.2009 |
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DIN No.: |
02373956 |
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Name : |
Mr. Puranam Hayagreeva Ravikumar |
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Designation : |
Director |
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Address : |
501 Yashowan Towers, Behind Mahim Post Office, T. H. Kataria Marg, Mahim - West,
Mumbai - 400016, Maharashtra, India |
|
Date of
Appointment : |
23.09.2011 |
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DIN No.: |
00280010 |
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Name : |
Mr. Sudipto Sarkar |
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Designation : |
Director |
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Address : |
31 Broad Street, Kolkata -
700019, West Bengal, India |
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Date of
Appointment : |
06.05.2011 |
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DIN No.: |
00048279 |
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Name : |
Mr. Prasanta Kumar Chandra |
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Designation : |
Whole Time Director and Chief Operating Officer |
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Address : |
358 Jodhpur Park, Flat - 2a, Kolkata - 700068, West
Bengal, India |
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Date of
Appointment : |
27.06.2011 |
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DIN No.: |
01919454 |
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Name : |
Mr. Prabir Ghosh |
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Designation : |
Whole Time Director and Group Chief Finance Office |
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Address : |
358 Jodhpur Park, Flat - 2a, Kolkata - 700068, West
Bengal, India |
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Date of
Appointment : |
27.06.2011 |
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DIN No.: |
01912656 |
KEY EXECUTIVES
|
Name : |
Mr. Sukanta Chattopadhyay |
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Designation : |
Company Secretary |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
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||
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(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
8021 |
0.03 |
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|
10037743 |
32.28 |
|
|
10045764 |
32.31 |
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|
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|
Total shareholding of
Promoter and Promoter Group (A) |
10045764 |
32.31 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
3068370 |
9.87 |
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|
23450 |
0.08 |
|
|
569680 |
1.83 |
|
|
137236 |
0.44 |
|
|
3798736 |
12.22 |
|
|
|
|
|
|
6647403 |
21.38 |
|
|
|
|
|
|
5216196 |
16.78 |
|
|
4903222 |
15.77 |
|
|
482497 |
1.55 |
|
|
84014 |
0.27 |
|
|
394833 |
1.27 |
|
|
3650 |
0.01 |
|
|
17249318 |
55.48 |
|
Total Public shareholding
(B) |
21048054 |
67.69 |
|
Total (A)+(B) |
31093818 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
31093818 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of equipment’s for various engineering and
infrastructure projects and also providing turnkey solutions in the areas of power,
steel, aluminum, material handling, cement, oil and gas, civic and industrial
water supply etc. |
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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 : |
· Bank of India · IDBI Bank Limited · State Bank of India · Canara Bank · United Bank of India · UCO Bank · Oriental Bank of Commerce · Union Bank of India · ICICI Bank Limited · ING Vysya Bank Limited · Axis Bank Limited · The Karur Vysya Bank Limited · HDFC Bank Limited · Punjab National Bank · Yes Bank Limited · DBS Bank Limited · Development Credit Bank Limited
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Facilities : |
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Auditors : |
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Name : |
Lovelock and Lewes Chartered Accountants |
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Solicitors : |
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|
Name: |
·
Khaitan and Company ·
S K Sawday and Company |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries of the Company : |
·
MBE Coal and Minerals Technologies India Private
Limited (formerly Humbolt Wedag Minerals India Private Limited) ·
McNally Sayaji Engineering Limited (MSEL) ·
McNally Bharat Equipments Limited (MBEL) ·
McNally Bharat Infrastructure Limited (MBIL) ·
MBE Mineral Technologies Pte Limited (formerly
MBE Holdings Pte Limited) ·
MBE Minerals Zambia Limited ·
McNally Bharat Engineering (SA) Proprietary
Limited |
|
|
|
|
Subsidiaries of MBE Mineral Technologies Pte Limited : |
·
MBE Coal and Minerals Technologies Gmbh ·
MBE Cologne Engineering Gmbh ·
MBE EWB Technologiai Kft |
|
|
|
|
Subsidiaries of MBE Coal and Mineral Technology GmbH : |
·
MBE Mineral Processing Technology (Beijing) Company
Limited ·
MBE Mineral Processing of Brazil Ltda ·
PT MBE Coal and Minerals Technology, Indonesia ·
MBE Minerals S.A. Pty Limited ·
OOO MBE OUM, Russia ·
Coal and Mineral Technology Holding Gmbh, Germany |
CAPITAL STRUCTURE
As on 30.07.2014
Authorised Capital : Rs. 1900.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 408.438
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
12000000 |
11.5% Non-Convertible Redeemable Preference Shares |
Rs.100/- each |
Rs.1200.000 Millions |
|
|
Total |
|
Rs.1600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31093818 |
Equity Shares |
Rs.10/- each |
Rs.310.938
Millions |
|
975000 |
11.5% Non-Convertible Redeemable Preference Shares |
Rs.100/- each |
Rs.97.500
Millions |
|
|
Total |
|
Rs.408.438 Millions |
Reconciliation
of Number of Equity Shares:
There was no movement of equity share
capital during the year.
Reconciliation
of Number of 11.50%
Non-Convertible
Redeemable Preference Shares:
|
Equity Shares |
Number
of Shares |
Rs. In Millions |
|
At the beginning of the year |
825000.00 |
82.500 |
|
Add : Issued during the year |
150000.00 |
15.000 |
|
At the end of the year |
975000.00 |
97.500 |
Right
and restrictions attached to shares:
Equity
Shares: The Company has one class of equity shares having a par value of Rs.10 per
share. 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.
Preference
Shares: During the year under review the company has issued cumulative,
non-convertible redeemable preference shares of Rs.100 each at a coupon rate of
11.50% p.a. Tenure of these preference shares is 7 years from the date of
issue.
The Company does not have a holding company.
Details
of shares held by shareholders holding more than 5% of the aggregate Equity
shares in the Company.
Details of equity shares held by
shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Williamson Magor and Company Limited |
1879748 |
6.05% |
|
Mcleod Russel India Limited |
3052295 |
9.82% |
Details
of shares held by shareholders holding more than 5% of the aggregate 11.50%
Non-Convertible Redeemable Preference shares in the Company
|
Name of
Preference Shareholders |
No. of Shares |
% of Holding |
|
Tata Capital Financial Services Limited |
625000 |
64.10% |
|
BrijeshKumarBiyani |
100000 |
10.26% |
|
Vyana AdvisoryPrivateLimited |
-- |
0.00% |
|
Rahul Mohindar |
50000 |
5.12% |
|
Vinay Mohindar |
100000 |
10.26% |
|
Mridula Mohata |
100000 |
10.26% |
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 |
408.438 |
393.438 |
310.938 |
|
(b) Reserves & Surplus |
2874.518 |
3612.528 |
2974.540 |
|
(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) |
3282.956 |
4005.966 |
3285.478 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
726.556 |
345.903 |
359.086 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
8.784 |
64.973 |
3.348 |
|
(d) long-term
provisions |
811.648 |
760.940 |
513.263 |
|
Total Non-current
Liabilities (3) |
1546.988 |
1171.816 |
875.697 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
9271.545 |
6106.685 |
3450.217 |
|
(b) Trade
payables |
10071.019 |
9516.256 |
7680.673 |
|
(c) Other
current liabilities |
7259.155 |
5642.367 |
6263.383 |
|
(d) Short-term
provisions |
851.300 |
122.720 |
232.112 |
|
Total Current
Liabilities (4) |
27453.019 |
21388.028 |
17626.385 |
|
|
|
|
|
|
TOTAL |
32282.963 |
26565.810 |
21787.560 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1315.938 |
1284.549 |
1142.436 |
|
(ii)
Intangible Assets |
10.553 |
19.115 |
27.168 |
|
(iii)
Capital work-in-progress |
70.996 |
88.900 |
1.080 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1983.289 |
1928.374 |
1742.882 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
288.416 |
131.013 |
130.018 |
|
(e) Other
Non-current assets |
51.627 |
6.427 |
0.000 |
|
Total Non-Current
Assets |
3720.819 |
3458.378 |
3043.584 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.702 |
0.702 |
|
(b)
Inventories |
937.962 |
882.635 |
634.246 |
|
(c) Trade
receivables |
14317.339 |
14559.849 |
13330.631 |
|
(d) Cash
and cash equivalents |
273.209 |
133.956 |
120.771 |
|
(e)
Short-term loans and advances |
3234.526 |
2807.218 |
2522.732 |
|
(f) Other
current assets |
9799.108 |
4723.072 |
2134.894 |
|
Total
Current Assets |
28562.144 |
23107.432 |
18743.976 |
|
|
|
|
|
|
TOTAL |
32282.963 |
26565.810 |
21787.560 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21437.795 |
21832.478 |
20792.031 |
|
|
|
Other Income |
117.310 |
73.073 |
120.555 |
|
|
|
TOTAL (A) |
21555.105 |
21905.551 |
20912.586 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
9505.348 |
11244.019 |
10631.048 |
|
|
|
Outsourcing expenses to outsiders for job work |
5668.554 |
5136.682 |
5292.211 |
|
|
|
Employees benefits expense |
1584.684 |
1615.383 |
1439.796 |
|
|
|
Other expenses |
3016.806 |
2207.141 |
2030.768 |
|
|
|
TOTAL (B) |
19775.392 |
20203.225 |
19393.823 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1779.713 |
1702.326 |
1518.763 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1512.369 |
1000.346 |
628.064 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
267.344 |
701.980 |
890.699 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
190.992 |
135.771 |
105.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
76.352 |
566.209 |
785.386 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
801.238 |
179.928 |
128.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(724.886) |
386.281 |
656.460 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2308.841 |
1969.360 |
1363.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity
Shares |
0.000 |
31.100 |
31.100 |
|
|
|
Tax on Dividend |
0.000 |
5.300 |
3.000 |
|
|
|
Transfer to General Reserve |
0.000 |
9.700 |
16.500 |
|
|
|
Proposed Dividend on Preference Shares |
10.900 |
0.600 |
0.000 |
|
|
|
Tax on Dividend |
1.800 |
0.100 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1571.255 |
2308.841 |
1969.360 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Contracts |
45.482 |
153.927 |
928.039 |
|
|
|
Corporate Guarantee commission |
56.631 |
36.736 |
0.000 |
|
|
|
Interest Income |
6.757 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
108.870 |
190.663 |
928.039 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Stores parts |
382.277 |
643.142 |
603.068 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.666 |
|
|
TOTAL IMPORTS |
382.277 |
643.142 |
603.734 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(23.72) |
12.40 |
21.11 |
|
QUARTERLY RESULTS
|
Particulars (Rs.
In Millions) |
30.06.2014 |
30.09.2014 |
|
Audited /
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
4097.400 |
5633.300 |
|
Total Expenditure |
3759.300 |
5069.300 |
|
PBIDT (Excl OI) |
338.100 |
564.000 |
|
Other Income |
21.300 |
14.600 |
|
Operating Profit |
359.400 |
578.600 |
|
Interest |
452.000 |
549.300 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
(92.600) |
29.300 |
|
Depreciation |
50.400 |
112.600 |
|
Profit Before Tax |
(143.000) |
(83.300) |
|
Tax |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
(143.000) |
(83.300) |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
(143.000) |
(83.300) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(3.38)
|
1.76 |
3.15 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.30
|
7.79 |
7.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.25 |
2.31 |
3.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.14 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.05 |
1.61 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.08 |
1.06 |
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 |
310.938 |
393.438 |
408.438 |
|
Reserves & Surplus |
2974.540 |
3612.528 |
2874.518 |
|
Net
worth |
3285.478 |
4005.966 |
3282.956 |
|
|
|
|
|
|
long-term borrowings |
359.086 |
345.903 |
726.556 |
|
Short term borrowings |
3450.217 |
6106.685 |
9271.545 |
|
Total
borrowings |
3809.303 |
6452.588 |
9998.101 |
|
Debt/Equity
ratio |
1.159 |
1.611 |
3.045 |
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 |
20,792.031 |
21,832.478 |
21,437.795 |
|
|
|
5.004 |
(1.808) |
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
|
20,792.031 |
21,832.478 |
21,437.795 |
|
Profit |
656.460 |
386.281 |
(724.886) |
|
|
3.16% |
1.77% |
(3.38%) |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
LONG TERM
BORROWINGS |
|
|
|
From Others |
148.500 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Bank |
950.000 |
0.000 |
|
From Others |
510.000 |
0.000 |
|
Cash Credit from Banks |
10.924 |
417.219 |
|
Working capital demand loan from banks |
550.000 |
0.000 |
|
Packing Credit in Foreign Currency |
0.000 |
453.872 |
|
Commercial Paper |
0.000 |
250.000 |
|
Deposit |
260.000 |
0.000 |
|
Total |
2429.424 |
1121.091 |
GENERAL
INFORMATION
Subject is a leading engineering turnkey project execution
company in India. The company’s share are listed on National Stock Exchange.
BUSINESS PERFORMANCE
Inspite of being the most challenging year in the last decade, 2013-14 has turned out to be yet another satisfactory year with respect to the order intake, when your Company could book fresh order of Rs.39800.000 Millions However, the turnover reduced marginally to Rs.21550.000 Millions compared to last year's turnover of Rs.21900.000 Millions This has been primarily due to the working capital shortage and credit crunch faced by many of our Clients resulting in further increase in our borrowings and higher interest charges.
ORDER BOOK
The Company has an order book of around Rs.65370.000 Millions as on March 31, 2014.
Some of the significant orders bagged during the year are mentioned below, which are currently under execution:
- BOP (2*600 MW) package for Singareni Thermal Power Project.
- Main plant civil works and chimney and chimney elevator package for DVC Ragunathpur.
- Inpit conveying system for SECL-Gevra.
- Construction of R and R colony for NTPC Pakri Barwadih at Barkagaon, Hazaribagh for NBCC
- Supply, installation, commissioning and testing under CHP package for NTPC Vindhyachal super power thermal project stage v.
- Civil works and underground piping works for DHDT and VGO- HDT Unit for IREP of BPCL Kochi Refinery.
- Civil works and underground piping works of existing refinery area for IREP of BPCL Kochi Refinery.
- Civil, Structural and underground piping works of Sulphur Recovery units (SRU) for IREP of BPCL Kochi Refinery.
- Operation and maintenance of coal handling plant with all the sub system/ auxilliaries of 6*600MW KSK Mahanadi Power Company Limited
- Design, Engineering, Supply, Testing and Commissioning of Ash Water Recirculation Package for NTPC, Kudgi.
- Dry fly ash conveying and transportation system package for NTPC Farrakka stage-l(3*200 MW) and stage-ll (2*500 MW)
- Construction of 3 super speciality hospitals under BRGF at Debra and Salboni in Paschim Medinipur and at Nandigram in Purba Medinipur.
- Construction of residential accommodation at Udhampur, DGMAP
OUTLOOK
The company has an order backlog of around Rs.6500.000 Millions and they
hope to continue their past growth trend this year also.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2014
(Rs. In Millions)
|
Particulars |
3 month ended |
Preceding 3 months ended |
Year to date figure for current year ended |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
Income from operations |
|
|
|
|
Net Sales/Income from Operations |
5624.100 |
4090.600 |
9714.700 |
|
Other operating income |
9.200 |
6.800 |
16.000 |
|
Total Income from Operations (Net) |
5633.300 |
4097.400 |
9730.700 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
Cost of Materials
Consumed |
2799.400 |
1604.700 |
4404.100 |
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
Outsourcing expenses to
outsiders for job work |
1336.300 |
1315.000 |
2651.300 |
|
Employees benefits
expense |
339.500 |
353.300 |
692.800 |
|
Depreciation |
112.600 |
50.400 |
163.000 |
|
Other expenditure |
594.100 |
486.500 |
1080.600 |
|
Total Expenses |
5181.900 |
3809.900 |
8991.600 |
|
|
|
|
|
|
Profit From Operations before Other Income, Interest and Exceptional
Items |
451.400 |
287.500 |
738.900 |
|
Other Income |
14.600 |
21.300 |
35.900 |
|
Profit from Ordinary Activities before Finance Cost and Exceptional
Items |
466.000 |
308.800 |
774.800 |
|
Finance Cost |
549.300 |
452.000 |
1001.300 |
|
Profit from Ordinary Activities after Finance Cost but before provision
for Onerous Contracts and Exceptional Items |
(83.300) |
(143.200) |
(226.500) |
|
Provision for Onerous Contracts |
0.000 |
0.000 |
0.000 |
|
Profit From Operations after Other Income, Interest and Exceptional
Items |
(83.300) |
(143.200) |
(226.500) |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
Profit /(Loss) from ordinary activities before tax |
(83.300) |
(143.200) |
(226.500) |
|
Tax Expense |
0.000 |
0.000 |
0.000 |
|
Net Profit/ (Loss) from ordinary activities after tax |
(83.300) |
(143.200) |
(226.500) |
|
Paid-up Equity Share Capital
(Rs.5/- Per Share) |
310.900 |
310.900 |
310.900 |
|
Reserves Excluding Revaluation Reserve per Balance Sheet of the
previous accounting year |
|
|
|
|
EPS before
Extraordinary items |
|
|
|
|
Basic |
(2.79) |
(4.71) |
(7.50) |
|
Diluted |
(2.79) |
(4.71) |
(7.50) |
|
Particulars |
3 month ended |
Preceding 3 months ended |
Year to date figure for current year ended |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
21048054 |
21048054 |
21048054 |
|
- Percentage of shareholding |
67.69% |
67.69% |
67.69% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
9187743 |
10037743 |
9187743 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
91.46% |
99.92% |
91.46% |
|
Percentage of shares (as a % of total share capital of the
company) |
29.55% |
32.28% |
29.55% |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
858021 |
8021 |
858021 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
8.54% |
0.08% |
8.54% |
|
Percentage of shares (as a % of total share capital of the
company) |
2.76% |
0.03% |
2.76% |
|
B.
Investor Complaints |
3
month ended 30.09.2014 |
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
Nil |
|
Disposed of during the quarter |
Nil |
|
Remaining unreserved at the end of the quarter |
Nil |
STATEMENTS OF ASSETS
AND LIABILITIES
(Rs. In Millions)
|
SOURCES OF FUNDS |
30.09.2014 |
|
|
Unaudited |
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders'
Funds |
|
|
(a)
Share Capital |
408.400 |
|
(b)
Reserves & Surplus |
2641.400 |
|
(c)
Money received against share warrants |
0.000 |
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
3049.800 |
|
|
|
|
(3)
Non-Current Liabilities |
|
|
(a)
long-term borrowings |
659.000 |
|
(b)
Deferred tax liabilities (Net) |
0.000 |
|
(c)
Other long term liabilities |
76.200 |
|
(d)
long-term provisions |
953.900 |
|
Total Non-current Liabilities (3) |
1689.100 |
|
|
|
|
(4)
Current Liabilities |
|
|
(a)
Short term borrowings |
12578.400 |
|
(b)
Trade payables |
9653.800 |
|
(c)
Other current liabilities |
7059.100 |
|
(d)
Short-term provisions |
838.400 |
|
Total Current Liabilities (4) |
30129.700 |
|
|
|
|
TOTAL |
34868.600 |
|
|
|
|
II.
ASSETS |
|
|
(1)
Non-current assets |
|
|
(a)
Fixed Assets |
|
|
(i)
Tangible assets |
1200.300 |
|
(ii)
Intangible Assets |
2.400 |
|
(iii)
Capital work-in-progress |
81.900 |
|
(iv)
Intangible assets under development |
0.000 |
|
(b)
Non-current Investments |
1983.300 |
|
(c)
Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
483.000 |
|
(e)
Other Non-current assets |
57.600 |
|
Total Non-Current Assets |
3808.500 |
|
|
|
|
(2)
Current assets |
|
|
(a)
Current investments |
0.000 |
|
(b)
Inventories |
1518.400 |
|
(c)
Trade receivables |
13453.800 |
|
(d)
Cash and cash equivalents |
207.300 |
|
(e)
Short-term loans and advances |
4001.600 |
|
(f)
Other current assets |
11879.000 |
|
Total Current Assets |
31060.100 |
|
|
|
|
TOTAL |
34868.600 |
Note:
The above unaudited results have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on November 14, 2014.
The operation of the Company is a single segment, hence segment reporting as
defined in Accounting Standard 17 is considered not applicable.
Project business is subject to quarter to quarter variations and one quarter's
performance in isolation does not necessarily indicate full year's performance.
Deferred tax asset has been recognised to the extent of deferred tax liability.
The company has charged depreciation in keeping with the requirement of schedule II to the companies Act, 2013. Consequently depreciation charge for the quarter and half year ended 30.09.2014 is higher by Rs. 62.600 Millions, Revenue by Rs. 25.200 Millions and loss from ordinary activity higher by Rs. 36.500 Millions with the corresponding decrease in net asset by equal amount.
Previous year's figures have been regrouped / rearranged wherever necessary.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 |
|
|
(Rs. in Millions) |
|
(a) Claims against the company not acknowledged as debt |
10.000 |
|
(b) Other money for which the Company is contingently
liable: |
|
|
(i) Excise Duty
matters pending in appeal related to issues of applicability and classification |
13.000 |
|
(ii) Sales Tax/VAT
matters pending in appeal relating to disputes regarding assessable value and
exemptions claimed |
995.700 |
|
(iii) Service Tax
Matters pending in appeal relating to issues of applicability |
2.700 |
|
(iv) Income tax
matters pending in appeal relating to disputes regarding the taxable value
and the deductions claimed |
134.000 |
|
(v) Corporate
guarantees given in favour of Subsidiary Companies |
1299.700 |
|
(vi) Other
guarantees given |
173.200 |
|
(vii) Standby
letter of credit |
325.200 |
|
(viii) Liquidated damages relating to contract sales |
Amount not
readily ascertainable |
Note: The probable cash outflow in respect of the above matters is not determinable at this stage
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10442478 |
18/07/2013 |
100,000,000.00 |
DBS BANK LIMITED |
4A, NANDALAL BASU SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
B81912750 |
|
2 |
10442427 |
17/07/2013 |
500,000,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
"PREMLATA", 39, SHAKESPEARE SARANI, KOLKATA - 700039, WEST BENGAL, INDIA |
B81882672 |
|
3 |
10433400 |
26/06/2013 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B78115839 |
|
4 |
10432967 |
04/06/2013 |
2,200,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, 1/1, CAMAC STREET, 1ST |
B77929735 |
|
5 |
10400287 |
04/12/2012 |
500,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
3A, RED CROSS PLACE, KOLKATA - 700001, WEST BENGAL, INDIA |
B67015859 |
|
6 |
10396127 |
16/11/2012 |
250,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
B65552846 |
|
7 |
10385748 |
18/09/2012 |
500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B61832200 |
|
8 |
10335896 |
26/06/2013 * |
4,040,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B78100104 |
|
9 |
10318443 |
09/11/2012 * |
365,400,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B62701776 |
|
10 |
10242902 |
07/02/2013 * |
32,220,000,000.00 |
BANK OF INDIA (LEAD BANK) |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B68137199 |
|
11 |
10226244 |
10/02/2012 * |
1,230,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B34584474 |
|
12 |
10202619 |
12/02/2010 |
440,000,000.00 |
DBS BANK LIMITED |
KOLKATA BRANCH, 4A, NANDALAL BASU SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
A79634754 |
|
13 |
10174629 |
16/09/2009 * |
1,820,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A70607247 |
|
14 |
10161723 |
29/12/2009 * |
13,695,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A78695855 |
|
15 |
10145997 |
30/01/2009 |
383,200,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA |
A56431745 |
|
16 |
10129890 |
19/11/2008 |
550,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
A50858398 |
|
17 |
10120938 |
16/09/2008 |
360,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA |
A45389327 |
|
18 |
10115281 |
15/07/2008 * |
500,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A43116235 |
|
19 |
10113744 |
01/07/2008 |
180,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
A42472043 |
|
20 |
10111548 |
17/06/2008 |
6,869,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A41357237 |
|
21 |
10090202 |
06/02/2008 |
35,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A33339540 |
|
22 |
10073707 |
16/10/2007 |
25,300,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A25864596 |
|
23 |
10048682 |
19/03/2007 |
250,000,000.00 |
ING VYSYA BANK LIMITED |
BRABOURNE ROAD, 1 and 2, OLD COURT HOUSE CORNER, KOLKATA - 700001, WEST BENGAL, INDIA |
A13315007 |
|
24 |
10048673 |
17/03/2007 |
250,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
A13308937 |
|
25 |
10033719 |
12/02/2008 * |
405,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A33643388 |
|
26 |
10021325 |
27/09/2006 * |
34,160,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A05332309 |
|
27 |
10021391 |
27/09/2006 * |
36,500,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A05332598 |
|
28 |
80009889 |
12/02/2008 * |
3,714,600,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A33642000 |
|
29 |
80014984 |
18/10/2006 * |
450,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,
ERODE ROAD, KARUR - |
- |
|
30 |
90252503 |
25/07/2005 |
30,000,000.00 |
UTI BANK LIMITED |
7 SHAKESPCARE SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
- |
|
31 |
90252497 |
08/07/2005 |
30,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
- |
|
32 |
90250811 |
13/12/2004 |
133,900,000.00 |
UTI BANK LIMITED |
7 SHAKESPCARE SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
- |
|
33 |
80009359 |
29/03/2012 * |
1,450,000,000.00 |
ING VYSYA BANK LIMITED |
4/1,MIDDLETON STREET, SIKKIM HOUSE, KOLKATA - 700071, WEST BENGAL, INDIA |
B37615390 |
|
34 |
90252168 |
11/08/2005 * |
981,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
- |
|
35 |
90251237 |
31/05/2010 * |
22,050,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
A88262738 |
|
36 |
90251147 |
14/03/2007 * |
150,000,000.00 |
STATE BANK OF INDIA |
SCB DHANBAD, GOODWILL PROPERTIES, BANK MORE, DHANBAD - 826001, JHARKHAND, INDIA |
- |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.62.39 |
|
|
1 |
Rs.94.16 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.