MIRA INFORM REPORT
|
Report No. : |
304375 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
JSW PROJECTS LIMITED |
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|
Registered
Office : |
JSW Center, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.08.2006 |
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Com. Reg. No.: |
11-163924 |
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Capital
Investment / Paid-up Capital : |
Rs.4360.000 Millions |
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|
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CIN No.: [Company Identification
No.] |
U74999MH2006PLC163924 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ12925D |
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PAN No.: [Permanent Account No.] |
AABCJ8131F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacture/job work of coke and direct reduced
iron (intermediate inputs for production of Iron and Steel). |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “JSW Group”. It is an established company having satisfactory track record. Even though the subject was incorporated during August 2006, it has
partially commenced its commercial activities during 2013. However, trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitment. In view of strong holding company, the subject can be considered for
business dealings at usual trade 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A- |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
23.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A2+ |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
23.12.2013 |
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 DENIED
Management Non Co-Operative (Tel No.: 91-22-23513000)
LOCATIONS
|
Registered Office : |
JSW Center, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra, India |
|
Tel. No.: |
91-22-23513000 / 42861000 |
|
Fax No.: |
91-22-42863000 |
|
E-Mail : |
DIRECTORS
As on 10.09.2014
|
Name : |
Mr. Vineet Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No. B-1203, Shagun Towers, Film City Road, Malad (East), Mumbai –
400097, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1972 |
|
Qualification : |
IIT, Delhi in M. Tech (Management and Systems) |
|
Date of Appointment : |
14.08.2014 |
|
DIN No.: |
02027288 |
|
|
|
|
Name : |
Mr. Sriram Kavassery Subbaram Narayanaswamy |
|
Designation : |
Director |
|
Address : |
Flat No.1, Padmalaya Intercity CHS, Plot No.5, Sector 16A, Vashi, Navi
Mumbai - 400705, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1969 |
|
Qualification : |
CA |
|
Date of Appointment : |
04.08.2009 |
|
DIN No.: |
00023208 |
|
|
|
|
Name : |
Mr. Anil Kumar Singh |
|
Designation : |
Director |
|
Address : |
House No. A2/5, JSWSL Towership, PO Vidyanager, Bellary - 583275, Karnataka,
India |
|
Date of Birth/Age : |
12.05.1965 |
|
Qualification : |
BE (Civil) |
|
Date of Appointment : |
24.12.2014 |
|
Pan No.: |
ABWPA9869J |
|
DIN No.: |
02059903 |
KEY EXECUTIVES
|
Name : |
Mr. Naveen Kumar Rawat |
|
Designation : |
Secretary |
|
Address : |
A2, 603, Shri Dharmendra CHSL, Holyx Road, IC Colony, Borivali (West),
Mumbai-400103, Maharashtra, India |
|
Date of Birth/Age : |
23.01.1982 |
|
Date of Appointment : |
20.01.2011 |
|
PAN No.: |
AGTPR0040C |
MAJOR SHAREHOLDERS
As on 10.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sangita Jindal |
|
49400 |
|
Kantilal N Patel |
|
100 |
|
Balwantkumar Ranka |
|
100 |
|
Sriram K.S.N. |
|
100 |
|
Deepak Yashwant Bhat |
|
100 |
|
JSW Investments Private Limited, India |
|
415750000 |
|
Bhushan Prasad |
|
100 |
|
JSW Logistics Infrastructure Private Limited, Mumbai, India |
|
31498000 |
|
JSW Techno Projects Management Limited, Mumbai, India |
|
30002000 |
|
Sapphire Technologies Limited, Mumbai, India |
|
100 |
|
Total |
|
477300000 |
Equity Share Break up (Percentage of Total Equity)
As on 10.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture/job work of coke and direct reduced
iron (intermediate inputs for production of Iron and Steel). |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri,
Vadodara - 390015, Gujarat, India |
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Facilities : |
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Financial Institution: |
Axis Trustee
Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound,
Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
|
|
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Auditors : |
|
|
Name : |
Shah Gupta and Company Chartered Accountants |
|
Address : |
38, Bombay
Mutual Building, 2nd Floor, Dr. D.N Road, Fort, Mumbai -400001, Maharashtra,
India |
|
PAN No.: |
AAAFS7702F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
CIN No.: U65993MH2005PTC152325 |
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Subsidiaries Company : |
CIN No.: U23209MH2014PLC254395 |
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Fellow Subsidiaries Company : |
CIN No.: U26957MH2006PLC160839
CIN No.: U85110KA1996PLC021242 |
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|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
CIN No.: L27102MH1994PLC152925
CIN No.: U72200KA2006PLC040034
CIN No.: U45202MH2010PTC204697
CIN No.: U74900MH2010PLC202725 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000000 |
Equity Shares |
Rs.10/- each |
Rs.5500.000 Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
479423600 |
Equity Shares |
Rs.10/- each |
Rs.4794.236
Millions |
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
477300000 |
Equity Shares |
Rs.10/- each |
Rs.4773.000
Millions |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000000 |
Equity Shares |
Rs.10/- each |
Rs.4500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
436000000 |
Equity Shares |
Rs.10/- each |
Rs.4360.000 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 |
4360.000 |
3042.000 |
1841.500 |
|
(b) Reserves & Surplus |
746.507 |
68.558 |
-22.602 |
|
(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) |
5106.507 |
3110.558 |
1818.898 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10666.872 |
12210.125 |
2717.624 |
|
(b) Deferred tax liabilities (Net) |
403.754 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3300.000 |
2450.000 |
0.000 |
|
(d) long-term
provisions |
11.127 |
9.191 |
7.311 |
|
Total Non-current
Liabilities (3) |
14381.753 |
14669.316 |
2724.935 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2435.482 |
0.000 |
0.000 |
|
(b) Trade
payables |
21.359 |
4.435 |
0.000 |
|
(c) Other
current liabilities |
10155.802 |
4259.817 |
3241.129 |
|
(d) Short-term
provisions |
107.393 |
11.004 |
10.815 |
|
Total Current
Liabilities (4) |
12720.036 |
4275.256 |
3251.944 |
|
|
|
|
|
|
TOTAL |
32208.296 |
22055.130 |
7795.777 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8252.676 |
4087.808 |
0.934 |
|
(ii)
Intangible Assets |
0.000 |
1.888 |
2.513 |
|
(iii)
Capital work-in-progress |
17978.069 |
13714.766 |
6334.145 |
|
(iv)
Intangible assets under development |
5.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.588 |
0.088 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
10.457 |
0.000 |
|
(d) Long-term Loan and Advances |
1588.954 |
856.668 |
1089.675 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
27825.287 |
18671.675 |
7427.267 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
2070.000 |
2070.000 |
0.000 |
|
(b)
Inventories |
199.477 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
379.746 |
194.779 |
181.286 |
|
(e)
Short-term loans and advances |
1684.352 |
1032.453 |
187.224 |
|
(f) Other
current assets |
49.434 |
86.223 |
0.000 |
|
Total
Current Assets |
4383.009 |
3383.455 |
368.510 |
|
|
|
|
|
|
TOTAL |
32208.296 |
22055.130 |
7795.777 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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|
SALES |
|
|
|
||
|
|
|
Income |
2,173.526 |
10.871 |
0.000 |
|
|
|
|
Other Income |
242.148 |
98.523 |
0.000 |
|
|
|
|
TOTAL (A) |
2,415.674 |
109.394 |
0.000 |
|
|
|
|
|
|
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||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Employee Benefits Expenses |
32.013 |
2.515 |
3.360 |
|
|
|
|
Other Expenses |
781.780 |
16.643 |
16.325 |
|
|
|
|
TOTAL (B) |
813.793 |
19.158 |
19.685 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1,601.881 |
90.236 |
(19.685) |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
178.310 |
2.441 |
0.182 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1,423.571 |
87.795 |
(19.867) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
331.411 |
7.092 |
0.625 |
||
|
|
|
|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1,092.160 |
80.703 |
(20.492) |
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|
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|
|
|
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||
|
Less |
TAX (H) |
414.211 |
(10.457) |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
677.949 |
91.160 |
(20.492) |
||
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|
|
|
|
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||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
68.558 |
(22.601) |
(2.110) |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
746.507 |
68.559 |
(22.602) |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Stores & Spares |
122.749 |
0.000 |
0.000 |
|
|
|
|
Capital Goods |
5545.063 |
4096.270 |
3389.749 |
|
|
|
TOTAL IMPORTS |
5667.812 |
4096.270 |
3389.749 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.84 |
0.37 |
(0.16) |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
31.19 |
838.56 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
73.70 |
830.06 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.68 |
0.97 |
(1.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.03 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.57 |
3.93 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.34 |
0.79 |
0.11 |
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 |
1841.500 |
3042.000 |
4360.000 |
|
Reserves & Surplus |
(22.602) |
68.558 |
746.507 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1818.898 |
3110.558 |
5106.507 |
|
|
|
|
|
|
Long Term borrowings |
2717.624 |
12210.125 |
10666.872 |
|
Short Term borrowings |
0.000 |
0.000 |
2435.482 |
|
Total
borrowings |
2717.624 |
12210.125 |
13102.354 |
|
Debt/Equity
ratio |
1.494 |
3.925 |
2.566 |
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 |
0.000 |
10.871 |
2,173.526 |
|
|
|
|
19,893.800 |
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
|
0.000 |
10.871 |
2,173.526 |
|
Profit |
(20.492) |
91.160 |
677.949 |
|
|
0.00% |
838.56% |
31.19% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
7105.371 |
163.168 |
0.000 |
|
Total |
7105.371 |
163.168 |
0.000 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OVERVIEW OF
THE COMPANY
The Company is engaged in business of setting up of projects for Steel making, Port, infrastructure, mining, cement, chemical, energy generation and distribution, industrial gases etc. on EPC basis and /or Build Operate Transfer (BOT), Build Own Operate Transfer (BOOT) or Build Own Lease Transfer (BOLT) basis or in such manner as may be considered expedient, by the client. The Company has entered into a BOOT Agreement with JSW Steel Limited (JSWSL) at Vijayanagar Works for setting up a CDQ (Coke Dry Quenching) Plant along with Captive Power Plant and a DRI (Direct Reduce Iron) Plant
FINANCIAL HIGHLIGHTS
The Turnover for the year under review was Rs.2173.500 Millions. The operating EBIDTA was Rs.1359.800 Millions. The net worth of company increased to Rs.5106.500 Millions as on March 31, 2014 from Rs.3110.600 Millions as on March 31, 2013.
PROJECT AND EXPANSION
PLANS
Projects commissioned
during FY 2013-14
Commenced Coke Dry Quenching (CDQ) Unit no. 2 at Vijaynagar from July- 2013
Commenced captive power plant of 76MW at Vijaynagar from October- 2013
Trial Run of 1.2 MTPA DRI Plant is under way.
Acquisition of DRI
plant along with captive power plant from IST STEEL & POWER LIMITED
During the year, the Company has acquired a DRI Plant of 0.12MTPA along with 8MW Captive Power Plant in Karnataka from IST Steel and Power Limited as a going concern on a slump sale basis.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10504768 |
31/05/2014 |
1,500,000,000.00 |
ICICI Bank Limited |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
C07912348 |
|
2 |
10506167 |
02/04/2014 |
760,000,000.00 |
Vijaya Bank |
Corporate Banking Branch, Nariman Point, Mumbai, Maharashtra - 400021, India |
C09325770 |
|
3 |
10428338 |
08/05/2013 |
1,780,000,000.00 |
Icici Bank Limited |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B75963314 |
|
4 |
10285782 |
07/03/2014 * |
20,030,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, India |
B98227804 |
*Date of modification Charges
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.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
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.