MIRA INFORM REPORT
|
Report No. : |
303362 |
|
Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASHOKA BUILDCON
LIMITED |
|
|
|
|
Registered
Office : |
S. No. 861, Ashoka House, Ashika Marg, Vadala, Nashik – 422011,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.05.1993 |
|
|
|
|
Com. Reg. No.: |
11-071970 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 789.765 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45200MH1993PLC071970 |
|
|
|
|
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.] |
Not Available |
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|
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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
: |
Subject is engaged in developing and building
infrastructure facilities on design, build, finance, operate, and transfer
basis in highways; and engineering, procurement, and construction (EPC) basis
in highways and the power sector. |
|
|
|
|
No. of Employees
: |
1259 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
Comments : |
Subject is an established company having fine track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitment. The company can be considered normal for business dealing at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL Rating |
|
Rating |
Long Term Rating = AA- |
|
Rating Explanation |
Have high degree of safety and carry very low credit risk. |
|
Date |
November 19, 2014 |
|
Rating Agency Name |
CRISIL Rating |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
November 19, 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.
INFORMATION DECLINED
Management non co-operative (91-253-3011705)
LOCATIONS
|
Registered Office / Corporate Office: |
S. No. 861, Ashoka House, Ashika Marg, Vadala, Nashik – 422 011,
Maharashtra, India |
|
Tel. No.: |
91-253-3011705 |
|
Fax No.: |
91-253-2422704 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at ·
Pune ·
Mumbai ·
Delhi and NCR ·
Nagpur · Indore |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Ashok M. Katariya |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
20.07.1949 |
|
Qualification : |
B. E. – Civil |
|
|
|
|
Name : |
Mr. Satish D. Parakh |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
24.10.1958 |
|
Qualification : |
B. E. – Civil |
|
|
|
|
Name : |
Mr. Sanjay P. Londhe |
|
Designation : |
Whole-Time Director |
|
Date of Birth/Age : |
27.04.1964 |
|
Qualification : |
B. E. – Civil, B. E. – F. I. E. |
|
|
|
|
Name : |
Mr. Milapraj Bhansali |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
18.12.1951 |
|
Qualification : |
Chartered Accountant |
|
|
|
|
Name : |
Mr. Michael Pinto |
|
Designation : |
Director |
|
Date of Birth/Age : |
27.05.1943 |
|
Qualification : |
Master in Public Administration |
|
|
|
|
Name : |
Mr. Sharadchandra Abhyankar |
|
Designation : |
Director |
|
Date of Birth/Age : |
09.10.1965 |
|
Qualification : |
B.A./ LL.M and Solicitor |
|
|
|
|
Name : |
Mr. Albert Tauro |
|
Designation : |
Director |
|
Date of Birth/Age : |
11.03.1951 |
|
Qualification : |
M. Com., CAIIB |
|
|
|
|
Name : |
Mr. Gyan Chand Daga |
|
Designation : |
Director |
|
Date of Birth/Age : |
08.09.1951 |
|
Qualification : |
B. Com., Chartered Accountant |
|
|
|
|
Name : |
Mr. Shyam Sundar S. G. |
|
Designation : |
Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Manoj A. Kulkarni |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
104814736 |
66.18 |
|
|
75390 |
0.05 |
|
|
2194620 |
1.39 |
|
Persons Acting in
Concert |
2194620 |
1.39 |
|
Sub Total |
107084746 |
67.61 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
107084746 |
67.61 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
19964981 |
12.60 |
|
|
42723 |
0.03 |
|
|
5751723 |
3.63 |
|
|
25759427 |
16.26 |
|
|
|
|
|
|
12286058 |
7.76 |
|
|
|
|
|
|
2799240 |
1.77 |
|
|
10217593 |
6.45 |
|
|
243080 |
0.15 |
|
|
114900 |
0.07 |
|
|
128180 |
0.08 |
|
|
25545971 |
16.13 |
|
Total Public shareholding (B) |
51305398 |
32.39 |
|
Total (A)+(B) |
158390144 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
158390144 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the Shareholder |
Details of Shares held |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
No. of Shares held |
As a % of grand total |
|||
|
1 |
Ashok Motilal Katariya |
1,30,87,220 |
8.26 |
0.00 |
|
2 |
Ashish Ashok Katariya |
1,24,73,598 |
7.88 |
0.00 |
|
3 |
Satish Parakh |
1,18,08,195 |
7.46 |
0.00 |
|
4 |
Ashish Ashok Katariya |
1,11,09,372 |
7.01 |
0.00 |
|
5 |
Satish Dhondulal Parakh |
1,07,80,575 |
6.81 |
0.00 |
|
6 |
Shobha Parakh |
1,05,86,410 |
6.68 |
0.00 |
|
7 |
Astha Ashish Katariya |
91,64,234 |
5.79 |
0.00 |
|
8 |
Asha Ashok Katariya |
79,05,240 |
4.99 |
0.00 |
|
9 |
Ashok Motilal Katariya |
61,80,090 |
3.90 |
0.00 |
|
10 |
Aditya Satish Parakh |
52,49,040 |
3.31 |
0.00 |
|
11 |
Ashoka Premises Private
Limited |
21,94,620 |
1.39 |
0.00 |
|
12 |
Ayush Ashish Kataria |
19,13,619 |
1.21 |
0.00 |
|
13 |
Narendra Shakadwipi |
16,27,164 |
1.03 |
0.00 |
|
14 |
Shweta Ashok Katariya UG Ashok
Motilal Katariya |
12,75,000 |
0.80 |
0.00 |
|
15 |
Snehal Manjit Khatri |
10,50,000 |
0.66 |
0.00 |
|
16 |
Sanjay Prabhakar Londhe |
4,76,701 |
0.30 |
0.00 |
|
17 |
Ashoka Buildwell Developers
Private Limited |
53,970 |
0.03 |
0.00 |
|
18 |
Vimal Narendra Shakadwipi |
33,388 |
0.02 |
0.00 |
|
19 |
Leelabai Kantilal Hiran |
38,982 |
0.02 |
0.00 |
|
20 |
Nishant Narendra Shakadwipi |
31,500 |
0.02 |
0.00 |
|
21 |
Padmabai Fakirchand Pophaliya |
24,408 |
0.02 |
0.00 |
|
22 |
Ashoka Builders (Nasik)
Private Limited |
21,420 |
0.01 |
0.00 |
|
|
Total |
10,70,84,746 |
67.61 |
0.00 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
1 |
HDFC Trustee Company Limited
A/c HDFC Equity Fund |
8132000 |
5.13 |
5.13 |
|
|
2 |
ICICI Prudential Life
Insurance Company Limited |
6505200 |
4.11 |
4.11 |
|
|
3 |
L And T Mutual Fund trustee
Limited- L and T Equity Fund |
5295166 |
3.34 |
3.34 |
|
|
4 |
Sunil Bansilal Raisoni |
3529619 |
2.23 |
2.23 |
|
|
5 |
DSP Blackrock India T.I.G.E.R
Fund |
3345454 |
2.11 |
2.11 |
|
|
6 |
GMO Emerging Domestic
Opportunities Fund |
2358052 |
1.49 |
1.49 |
|
|
7 |
Bajaj Allianze Life Insurance
Company Limited |
2264410 |
1.43 |
1.43 |
|
|
8 |
Shubham Rajendra Raisoni |
2000000 |
1.26 |
1.26 |
|
|
9 |
Kalpana Sunil Raisoni |
1847970 |
1.17 |
1.17 |
|
|
|
Total |
35277871 |
22.27 |
22.27 |
Shareholding of securities (including shares, warrants, convertible securities) of persons (together with PAC) belonging to the category “Public” and holding more than 5% of the total number of shares of the company
|
l. No. |
Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
1 |
HDFC Trustee Company Limited A/c
HDFC Equity Fund |
8132000 |
5.13 |
0.00 |
|
|
Total |
8132000 |
5.13 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in developing and
building infrastructure facilities on design, build, finance, operate, and
transfer basis in highways; and engineering, procurement, and construction (EPC)
basis in highways and the power sector. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
1259 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
M. P. Chitale and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Parties where control exists : |
|
|
|
|
|
Enterprises in which Key Management Personnel / Directors have
significant influence : |
|
|
|
|
|
Associates and Joint Ventures : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
162200000 |
Equity Shares |
Rs.5/- each |
Rs. 811.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
157953090 |
Equity Shares |
Rs.5/- each |
Rs. 789.765
Millions |
|
|
|
|
|
Reconciliation of
Number of Shares Outstanding:
|
Class of Shares |
31.03.2014 |
|
|
Equity Shares |
|
Outstanding as at 01-Apr-13 |
52651030 |
|
Addition during the period |
|
|
Shares Split Impact |
52651030 |
|
Bonus Issue |
52651030 |
|
Matured during the period |
- |
|
Outstanding as at 31-March-14 |
157953090 |
On July 4, 2013,
the company has split equity of Rs. 10/- each fully paid up into Rs. 5/- each
fully paid up share and there after allotted bonus equity shares pf Rs. 5/- each
fully paid up, in the ratio of 1:2 (one equity shares Rs. 5/- each for every
two share of the Rs. 5/- held) to all the registered shareholders as on the
record date. The earnings per share (EPS) data for all the periods disclosed
above have been adjusted for the split and bonus share as per the accounting
Standards 20 on Earnings Per Shares
Details of shares in
the Company held by each shareholder holding more than 5% shares:
|
Class of Shares |
31.03.2014 |
|
|
Equity Shares |
|
Ashok M. Katairya |
13087220 |
|
Asha A. Katariya |
7905240 |
|
Ashish A. Katariya |
12311796 |
|
Ashish A. Katariya-HUF |
11109372 |
|
Astha A. Katairya |
9164234 |
|
IDFC Trustee Company Limited-IDFC Infrastructure Fund 2 A/c IDFC PE Fund II |
9411957 |
|
Satish D. Parakh |
11808195 |
|
Satish D. Parakh-HUF |
10780410 |
|
Shobha S. Parakh |
10586410 |
As on 26.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
248000000 |
Equity Shares |
Rs.5/- each |
Rs. 1240.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
158543600 |
Equity Shares |
Rs.5/- each |
Rs. 792.718
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 |
789.765 |
526.510 |
552.180 |
|
(b) Reserves & Surplus |
8538.084 |
8012.916 |
7264.447 |
|
(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) |
9327.849 |
8539.426 |
7816.627 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
551.563 |
658.264 |
1151.737 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
10.263 |
|
(c) Other long term
liabilities |
3470.458 |
3609.141 |
4505.080 |
|
(d) long-term
provisions |
683.677 |
593.315 |
225.931 |
|
Total Non-current
Liabilities (3) |
4705.698 |
4860.720 |
5893.011 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1350.773 |
1719.000 |
1672.451 |
|
(b) Trade
payables |
4040.159 |
3242.320 |
2803.104 |
|
(c) Other
current liabilities |
2482.086 |
2168.604 |
850.025 |
|
(d) Short-term
provisions |
195.524 |
232.427 |
23.001 |
|
Total Current
Liabilities (4) |
8068.542 |
7362.351 |
5348.581 |
|
|
|
|
|
|
TOTAL |
22102.089 |
20762.497 |
19058.219 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1671.493 |
1655.444 |
1643.161 |
|
(ii)
Intangible Assets |
354.764 |
550.231 |
1071.817 |
|
(iii) Capital
work-in-progress |
240.967 |
210.261 |
12.945 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
9756.505 |
7450.057 |
4417.699 |
|
(c) Deferred tax assets (net) |
20.474 |
6.981 |
0.000 |
|
(d) Long-term Loan and Advances |
1100.423 |
2491.515 |
3102.991 |
|
(e) Other
Non-current assets |
732.394 |
723.488 |
1320.453 |
|
Total Non-Current
Assets |
13877.020 |
13087.977 |
11569.066 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
4.138 |
5.936 |
|
(b)
Inventories |
4470.756 |
5039.242 |
3526.843 |
|
(c) Trade
receivables |
1895.503 |
1447.476 |
1714.065 |
|
(d) Cash
and cash equivalents |
305.475 |
337.599 |
385.879 |
|
(e)
Short-term loans and advances |
1470.110 |
789.573 |
1833.552 |
|
(f) Other
current assets |
83.225 |
56.492 |
22.878 |
|
Total
Current Assets |
8225.069 |
7674.520 |
7489.153 |
|
|
|
|
|
|
TOTAL |
22102.089 |
20762.497 |
19058.219 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15566.408 |
16376.236 |
13379.545 |
|
|
|
Other Income |
474.017 |
582.078 |
282.364 |
|
|
|
TOTAL |
16040.425 |
16958.314 |
13661.909 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Sold |
519.628 |
509.627 |
659.478 |
|
|
|
Operating Expenses |
12206.147 |
12979.173 |
10137.814 |
|
|
|
Employees benefits expense |
491.699 |
431.390 |
371.841 |
|
|
|
Other expenses |
364.775 |
434.329 |
275.491 |
|
|
|
Exceptional Items |
156.885 |
156.885 |
0.000 |
|
|
|
TOTAL
|
13739.134 |
14511.404 |
11444.624 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2301.291 |
2446.910 |
2217.285 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
334.417 |
396.843 |
490.331 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1966.874 |
2050.067 |
1726.954 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
433.779 |
495.712 |
357.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1533.095 |
1554.355 |
1369.541 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
498.707 |
532.835 |
324.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1034.388 |
1021.520 |
1044.870 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4526.745 |
3817.981 |
2773.111 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
103.439 |
102.152 |
0.000 |
|
|
|
Dividend |
236.930 |
210.604 |
0.000 |
|
|
|
Total |
340.369 |
312.756 |
0.000 |
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5220.764 |
4526.745 |
3817.981 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.55 |
6.47 |
6.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.65 |
6.24 |
7.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
14.78 |
14.94 |
16.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.69 |
11.87 |
9.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.18 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.20 |
0.28 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.04 |
1.40 |
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 |
552.180 |
526.510 |
789.765 |
|
Reserves & Surplus |
7264.447 |
8012.916 |
8538.084 |
|
Net
worth |
7816.627 |
8539.426 |
9327.849 |
|
|
|
|
|
|
long-term borrowings |
1151.737 |
658.264 |
551.563 |
|
Short term borrowings |
1672.451 |
1719.000 |
1350.773 |
|
Total
borrowings |
2824.188 |
2377.264 |
1902.336 |
|
Debt/Equity
ratio |
0.361 |
0.278 |
0.204 |
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 |
13379.545 |
16376.236 |
15566.408 |
|
|
|
22.398 |
(4.945) |
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 |
13379.545 |
16376.236 |
15566.408 |
|
Profit |
1044.870 |
1021.520 |
1034.388 |
|
|
7.81% |
6.24% |
6.65% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term debt |
337.497 |
355.400 |
297.945 |
|
|
|
|
|
|
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 |
|||||||
|
Bench:- Bombay |
|||||||
|
Presentation Date:- |
19.07.2014 |
||||||
|
Lodging
No.:- |
ITXAL/1374/2014 |
Filing
Date:- |
19.07.2014 |
||||
|
Reg. No.:- |
ITXA |
Reg.
Date:- |
27.11.2014 |
||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME –TAX |
Respondent:- |
ASHOKA BUIDCON LIMITED |
||||
|
Petn.Adv:- |
PADMA DIVAKAR (I3287) |
Resp. Adv:- |
|
||||
|
District:- |
NAGPUR |
||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Pre-Admission |
Stage : |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
||||
|
Last Coram:- |
ACCORDING TO SITTING LIST |
||||||
|
|
ACCORDING TO SITTING LIST |
||||||
|
Act :- |
Income Tax Act, 1961 |
|
|||||
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Loan from Related Parties |
286.705 |
260.200 |
|
Total |
286.705 |
260.200 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2014 |
|
Bank Guarantees issued by bankers in favour of third parties |
7085.694 |
|
Corporate Guarantee issued by the Company in favour of Banks/ Financial Institutions for finance raised by Companies under the same management and against mobilization advance |
11700.000 |
|
Claims against the Company not acknowledged as debts |
2.390 |
|
Liability against capital commitments outstanding (Net of Advances) |
4.086 |
|
Liability of Duty against Export Obligations |
3.918 |
|
Disputed Duties / Tax Demands (net of taxes paid) |
125.914 |
|
Resurfacing obligation as per concession agreement |
70.977 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
CHARGE HOLDER |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10535451 |
05/12/2014 |
12,650,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C36272623 |
|
2 |
10532445 |
07/11/2014 |
1,071,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C34372003 |
|
3 |
10524986 |
01/10/2014 |
542,284.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C28724037 |
|
4 |
10524990 |
01/10/2014 |
542,284.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C28725174 |
|
5 |
10524992 |
01/10/2014 |
542,284.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C28726578 |
|
6 |
10524984 |
01/10/2014 |
558,739.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C28722304 |
|
7 |
10525567 |
29/09/2014 |
16,224,618.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C29451887 |
|
8 |
10525171 |
06/09/2014 |
18,768,352.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C28920247 |
|
9 |
10517798 |
23/08/2014 |
7,008,572.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C19032747 |
|
10 |
10511815 |
17/07/2014 |
2,800,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BUILDING,
GROUND FLOOR, 17, R. KAMANI MARG, BALARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
C14299226 |
|
11 |
10512754 |
01/07/2014 |
558,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C14948111 |
|
12 |
10512756 |
01/07/2014 |
558,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C14948731 |
|
13 |
10513111 |
01/07/2014 |
2,286,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C15165384 |
|
14 |
10512766 |
01/07/2014 |
2,515,500.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C14950646 |
|
15 |
10512762 |
18/06/2014 |
477,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C14950042 |
|
16 |
10512758 |
18/06/2014 |
618,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C14949523 |
|
17 |
10503117 |
26/04/2014 |
41,876,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C06707491 |
|
18 |
10496789 |
26/03/2014 |
5,387,400.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006,
INDIA |
C05229703 |
|
19 |
10496800 |
25/03/2014 |
22,437,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
C05232699 |
|
20 |
10523630 |
11/03/2014 |
577,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C23242688 |
|
21 |
10523768 |
11/03/2014 |
577,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C23241714 |
|
22 |
10465828 |
07/12/2013 |
626,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B91830828 |
|
23 |
10465827 |
07/12/2013 |
2,725,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B91830430 |
|
24 |
10467627 |
05/12/2013 |
32,310,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B92520246 |
|
25 |
10449204 |
06/09/2013 |
74,469,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B85073542 |
|
26 |
10431567 |
08/06/2013 |
51,616,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B77303162 |
|
27 |
10414380 |
01/03/2013 |
73,008,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B71665780 |
|
28 |
10375393 |
17/07/2012 |
69,289,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B57641961 |
|
29 |
10362023 |
05/06/2012 |
15,702,200.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B42190819 |
|
30 |
10316011 |
15/10/2011 |
96,988,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B24680357 |
|
31 |
10305006 |
26/08/2011 |
92,314,046.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B19952944 |
|
32 |
10280919 |
15/03/2011 |
8,755,181.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
B10650331 |
|
33 |
10273643 |
05/03/2011 |
3,510,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B07905342 |
|
34 |
10265457 |
15/01/2011 |
14,853,274.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B05040043 |
|
35 |
10273236 |
15/01/2011 |
25,158,735.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B07486145 |
|
36 |
10265453 |
15/01/2011 |
37,355,019.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, IND |
B05038872 |
|
37 |
10265451 |
15/01/2011 |
37,368,640.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, IND |
B05038054 |
|
38 |
10260365 |
19/11/2010 |
9,126,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B03286424 |
|
39 |
10260383 |
19/11/2010 |
9,126,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B03286770 |
|
40 |
10242649 |
15/09/2010 |
2,875,653.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95944963 |
|
41 |
10242650 |
15/09/2010 |
2,946,533.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95945663 |
|
42 |
10242655 |
15/09/2010 |
5,248,902.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95948923 |
|
43 |
10242651 |
15/09/2010 |
7,920,000.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95946232 |
|
44 |
10242656 |
15/09/2010 |
14,688,000.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95949509 |
|
45 |
10242648 |
15/09/2010 |
16,785,000.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95944237 |
|
46 |
10242653 |
15/09/2010 |
17,490,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95947263 |
|
47 |
10242654 |
15/09/2010 |
18,225,972.00 |
SREI EQUIPMENT
FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A95947917 |
|
48 |
10198761 |
01/01/2010 |
683,437.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A78253762 |
|
49 |
10161267 |
05/06/2009 |
678,425.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A63690283 |
|
50 |
10161256 |
05/06/2009 |
2,807,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A63689673 |
|
51 |
10161265 |
05/06/2009 |
4,633,400.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A63689947 |
|
52 |
10153514 |
06/04/2009 |
3,444,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A60405594 |
|
53 |
10066530 |
28/08/2007 |
670,000,000.00 |
INFRASTRUCTURE DEVELOPMENT
FINANCE COMPANY LIMITED |
ITC CENTRE, 3RD
FLOOR760, ANNA SALAI, CHENNAI - |
A22600142 |
|
54 |
10002574 |
18/10/2014 * |
18,450,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE
BANKING BRANCH, GROUND FLOOR, AXIS HOU |
C32094534 |
* Date of charge modification
OPERATIONS
During the year, Ashoka Cuttack
Angul Tollway Limited, the Subsidiary ofthe Company had given a notice of termination
of the Concession Agreement in respect of four laning of Cuttack–Angul section
of NHAI Road Project for the reasons beyond the control of the Subsidiary viz.
Environment clearance, forest clearance, land acquisition etc.
During the year, Company signed
the Concession Agreement for the project along with GVR Infra Projects Limited.
as Consortium Member, for the Project viz. Development of Chennai Outer Ring
Road Phase II from Nemilicheri in NH 2O5 To Minjur in Thiruvottiyur – Ponneri –
Panchetti (TPP) Road on Design, Build, Finance, Operate and Transfer (DBFOT)
Annuity basis at Chennai, in the State of Tamil Nadu.
The Special Purpose Vehicle
(SPV) viz. GVR Ashoka Chennai ORR Limited. Where in both the Consortium Members
hold 5O% share each, has also achieved fnancial closure. The cost of the
Project is Rs. 14660.000 Millions. Company is an EPC Contractor for the said
project and company's EPC Cost is Rs. 6250.000 Millions.
The Company also received the
LOA alongwith GVR Infra Projects Limited. as consortium Member for the project
"Improvement Project – II("KSHIP–H"), Bangalore for – Design,
Build, Finance, Operate, Maintain and Transfer (DBFOMT) the Existing State
Highway (SH18) from Mudhol to Maharashtra Border (Approx length 1O7.937
Kms)" in the State of Karnataka on DBFOMT Annuity Basis. The project will
be implemented by a Special Purpose Vehicle (SPV) viz. Ashoka GVR Mudhol Nipani
Road Limited, wherein Company holds 51% share and GVR holds balance 49% share.
Company has received LoAs for
the following two Projects from the Public Works Department, Government of
Maharashtra.
a) Rehabilitation and Upgradation of NH–222 from end of Malshej
Ghat to start of Ane Ghat section [km. 1O1/OOO to km 161/57O] in the State of
Maharashtra to two lanes with paved shoulders under NHDP Phase –IV A &Bon
EPC basis.
b) Rehabilitation and Upgradation of Ane–Ghat to start of
Ahmednagar bypass section [km. 161/57O to km 211/OOO] of NH–222 in the State of
Maharashtra to two lanes with paved shoulders under NHDP – IV, on EPC basis.
The Company is qualified to bid
for an individual Project on DBFOT Basis, up to Rs. 30140.000 Millions for
upcoming NHAI Projects.
Company has received orders
worth Rs. 5962.800 Millions for a Turnkey EPC Contract of Power T and D segment
of Tamil Nadu Generation and Distribution Company Limited. and Rs. 4950.000
Millions for Turnkey contracts for electrification work for Mahavitaran
Infrastructure plans of MSEDCL.
Company has received LoA for the
Toll Collection Project viz. Kognoli Toll Plaza located at Km 591.3OO for the
section from Maharashtra Border – Belgaum (Km. 537.OOO to Km. 592.24O) of NH –
4 in the State of Karnataka from National Highways Authority of India (NHAI).
The value of the contract has been estimated at Rs. 240.000 Millions for one
year.
MANAGEMENT DISCUSSION AND
ANALYSIS
INDIAN
INFRASTRUCTURE SECTOR
The infrastructure sector
continues to face challenges in the year under review. High interest rates,
policy paralysis and low order flow persist. With the coming of the new
government, it is expected that economic factors would turn favorable,
bureaucratic delays will be removed, issues relating to environment clearances,
land acquisition and forest issues would be cohesively addressed and new order
flow would take place which is the need of the day. With the government
acknowledgement of the role of infrastructure continues to be unchanged, the
task of implementing the infrastructure projects is more warranted. In the last
year we have seen major issues being given attention to like environment
clearances for brown field projects, more teeth to the law for land acquisition
and delinking of forest clearances and environment clearances which was
becoming a chicken and egg story. We will observe major decisions being
implemented in clearing the road for infra projects to take off this year.
COMPANY OVERVIEW
Ashoka Buildcon Limited continues
to be one of the leading infrastructure development Companies having a presence
in six States. The Company has strong in-house integrated road infrastructure
execution capabilities. They are developing and building infrastructure
facilities on: Design, Build, Finance, Operate and Transfer (DBFOT) basis in
Highways, and Engineering, Procurement and Construction (EPC) basis in Highways
and Power Sector The Company is also looking forward to take up projects on an
O&,M and toll collection contract basis. In addition, the Company also has
the facilities for Ready Mix Concrete (RMC) supply for own and third party
uses.
STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE HALF
ENDED 30TH SEPTEMBER 2014
(Rs. in millions)
|
Sr. No |
|
Standalone |
||
|
Quarter Ended |
Half Year Ended |
|||
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
||
|
Audited |
Unaudited |
Audited |
||
|
1 |
Income From
Operations |
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
3573.332 |
5467.650 |
9040.982 |
|
|
b. Other Operating Income |
12.364 |
11.574 |
23.938 |
|
|
Total Income from Operations
(Net) |
3585.696 |
5479.224 |
9064.920 |
|
2 |
Expenditure |
|
|
|
|
|
a. Cost of material Consumed |
2877.848 |
4571.338 |
7449.186 |
|
|
d. Employees Benefit Expenses |
166.510 |
128.718 |
295.228 |
|
|
e. Depreciation and Amortisation Expenses |
136.659 |
139.257 |
275.916 |
|
|
f. Other expenses |
122.993 |
84.838 |
207.831 |
|
|
Total Expenses |
3304.009 |
4924.151 |
8228.160 |
|
3 |
Profit from Operations
before Other Income, Interest and Exceptional Items |
281.687 |
555.073 |
836.760 |
|
4 |
Other Income |
188.325 |
40.841 |
229.166 |
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
470.012 |
595.914 |
1065.927 |
|
6 |
Finance Costs |
134.291 |
89.598 |
223.889 |
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
335.722 |
506.316 |
842.038 |
|
8 |
Exceptional items |
- |
- |
- |
|
9 |
Profit from
ordinary activities before tax |
335.722 |
506.316 |
842.038 |
|
10 |
Tax Expense |
84.084 |
168.171 |
252.256 |
|
11 |
Net Profit from
ordinary activity after tax |
251.637 |
338.145 |
589.782 |
|
12 |
Extraordinary Items |
- |
- |
- |
|
13 |
Net Profit After
Tax |
251.637 |
338.145 |
589.782 |
|
14 |
Paid-up equity share capital (face value of Rs.10 per share) |
791.951 |
790.747 |
791.951 |
|
15 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
8538.094 |
8538.094 |
8538.094 |
|
16 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
|
Basic EPS |
1.59 |
2.14 |
3.73 |
|
|
Diluted EPS |
1.58 |
2.13 |
3.71 |
|
|
|
|
|
|
|
PART II |
||||
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
- No. of shares |
51305398 |
51305398 |
51305398 |
|
|
- Percentage of shareholding |
32.39 |
32.39 |
32.39 |
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- No. of shares |
Nil |
Nil |
Nil |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
Nil |
Nil |
Nil |
|
|
b) Non-encumbered |
|
|
|
|
|
- No. of shares |
107084746 |
106791904 |
107084746 |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
67.61 |
67.53 |
67.61 |
|
|
Particulars |
Quarter ended 30.09.2014 |
|
B |
Investor Complaints |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
4 |
|
|
Disposed off during the quarter |
4 |
|
|
Remaining unresolved at the end of the
quarter |
Nil |
NOTE:
1. The above financial results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on November 13,2014 and have been audited by the Statutory Auditors.
2. In accordance with provision of Schedule II to the Companies Act 2013, effective from 1st April 2014, the Company has revised the useful lives of its fixed assets. As a consequence of such revision, the charge for depreciation for the period is higher than the previously applied rates by Rs. 78.475 millions.
3. The Cuttack Angul Road project awarded to the Subsidiary, Ashoka Cuttack Angul Tollway Limited, was surrendered to NHAI. The company has based on mutual agreement with NHAI made a payment of Rs. 112.400 millions, an amount equal to bid security, this has been charged to profit and loss account of the company in the reported period.
4. Figures for the quarter ended September 30,2014 are the balancing figures between audited figures for the period ended September 30,2014 & published reviewed figures for quarter ended June 30,2014
5. Corresponding figures of previous period have been regrouped / rearranged wherever necessary
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
(Rs. In Millions)
|
Particulars |
Quarter
Ended |
Year
Ended |
|
|
|
30.09.2014 Audited |
30.06.2014 Unaudited |
30.09.2014 Audited |
|
1.
Segment Revenue |
|
|
|
|
Construction and
Contract |
32855.594 |
5053.432 |
8339.026 |
|
BOT |
141.479 |
154.462 |
295.941 |
|
Sale of Goods (Net
of excise duty) |
158.624 |
271.329 |
429.953 |
|
Total |
33155.697 |
5479.224 |
9064.920 |
|
|
|
|
|
|
2.
Segment Result |
|
|
|
|
Construction and
Contract |
414.191 |
585.705 |
999.896 |
|
BOT |
(9.234) |
15.281 |
6.047 |
|
Sale of Goods |
25.001 |
43.621 |
68.622 |
|
Total |
429.958 |
644.607 |
1074.565 |
|
|
|
|
|
|
3.
Add/(Less) |
|
|
|
|
Unallocable Income |
178.257 |
40.841 |
219.098 |
|
Unallocable Expenses |
(272.492) |
(173.133) |
(451.625) |
|
Total |
(94.235) |
(138.292) |
(232.527) |
|
|
|
|
|
|
4.
Net Profit before Tax |
335.723 |
506.315 |
842.038 |
|
|
|
|
|
|
5. Capital
Employed (Segment Assets-Segment Liabilities) |
|
|
|
|
Construction
and Contract |
3019.225 |
2228.560 |
3019.225 |
|
BOT |
67.818 |
122.428 |
67.818 |
|
Sale of Goods |
140.829 |
250.916 |
140.829 |
|
Unallocated |
6737.257 |
7076.518 |
6737.257 |
|
Total |
9965.129 |
9678.422 |
9965.129 |
STATEMENT OF ASSETS AND LIABILITIES
|
SOURCES OF FUNDS |
|
|
As on 30.09.2014 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
|
791.951 |
|
(b) Reserves & Surplus |
|
|
9173.178 |
|
Sub-total
Shareholders' Funds |
|
|
9965.129 |
|
|
|
|
|
|
(2)
Minority Interest |
|
|
-- |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
579.148 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
2915.377 |
|
(d) long-term
provisions |
|
|
777.771 |
|
Sub Total
Non-Current Liabilities |
|
|
4272.296 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
3392.268 |
|
(b) Trade
payables |
|
|
3454.050 |
|
(c) Other
current liabilities |
|
|
1908.951 |
|
(d) Short-term
provisions |
|
|
190.402 |
|
Sub Total- Current Liabilities |
|
|
8945.671 |
|
|
|
|
|
|
TOTAL- EQUITY AND LIABILITIES |
|
|
23183.096 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
2068.366 |
|
(b)Goodwill
on Consolidation |
|
|
0.000 |
|
(c) Non-current Investments |
|
|
10545.745 |
|
(d) Deferred tax assets (net) |
|
|
61.083 |
|
(e) Long-term Loan and Advances |
|
|
1333.914 |
|
(f) Other
Non-current assets |
|
|
932.947 |
|
Sub
Total- Non-current
assets |
|
|
14942.055 |
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
|
|
5519.649 |
|
(c) Trade
receivables |
|
|
1450.999 |
|
(d) Cash
and cash equivalents |
|
|
266.056 |
|
(e)
Short-term loans and advances |
|
|
914.247 |
|
(f) Other
current assets |
|
|
90.090 |
|
Sub Total- Current
assets |
|
|
8241.041 |
|
|
|
|
|
|
TOTAL
ASSETS |
|
|
23183.096 |
FIXED ASSETS
Tangible assets
- Leasehold Land
- Freehold Land
- Buildings
- Plant and Machineries
- Data Processing Equipments
- Office Equipments
- Furniture and Fixtures
- Vehicles
Intangible Assets
- License to collect Toll
- Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
|
1 |
Rs.94.24 |
|
Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KLS |
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 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.