MIRA INFORM REPORT

 

 

Report No. :

331315

Report Date :

09.07.2015

 

IDENTIFICATION DETAILS

 

Name :

OCL INDIA LIMITED (W.E.F. 23.01.1996)

 

 

Formerly Known As :

ORISSA CEMENT LIMITED

 

 

Registered Office :

AT/PO – Rajgangpur, Sundargarh – 770017, Orissa

Tel No.:

91-6624-221212

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

11.10.1949

 

 

Com. Reg. No.:

15-000185

 

 

Capital Investment / Paid-up Capital :

Rs. 113.900 Million

 

 

CIN No.:

[Company Identification No.]

L26942OR1949PLC000185

 

 

IEC No.:

2388000050

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALO00890B

 

 

PAN No.:

[Permanent Account No.]

AAACP1354J

AAACO1354J

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchange.

 

 

Line of Business :

Manufacturer, Trader and Exporter of Cement and Refractory.

 

 

No. of Employees :

5000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (67)

 

RATING

STATUS

PROPOSED CREDIT LINE

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

 

Maximum Credit Limit :

USD 34000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear 

 

 

Comments :

Subject is a part of “Dalmia Group”. It is a well-established company having fine track record.

 

Subject has strong managerial, operation and financial support from group.

 

The company possesses a sound financial profile marked by healthy networth base along with strong liquidity position reflected by the huge liquid surplus adequate gearing as well as acceptable capital structure and coverage indicators.

 

Rating derives strength from long track record of subject and extensive experience of promoters in cement industry.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

In view of long standing presence, experienced promoters and strong support from group, the company can be considered good 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

NCD Programme : AA

Rating Explanation

Highest degree of safety and lowest credit risk.

Date

30.01.2015

 

Rating Agency Name

ICRA

Rating

Short term loans : A1+

Rating Explanation

Very strong degree of safety and lowest credit risk.

Date

30.01.2015

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Sunil Kumar

Designation :

DGM(Marketing)

Contact No.:

91-9437049342

 

 

LOCATIONS

 

Registered Office/ Cement and Refractory Works :

AT/PO - Rajgangpur, Sundargarh District – 770 017, Orissa, India

Tel. No.:

91-6624 221212/ 24220121 (4 Lines)

Fax No.:

91-6624 220133/ 24220933

E-Mail :

oclrpg@cal.vsnl.net.in

skjain@oclindia.com

sunilkumar@oclindia.com

ocl_rajgangpur@ocl.in

refractory_marketing@ocl.in

Website :

http://www.oclindia.com

http://www.ocl.in

Location:

Owned

 

 

Kapilas Cement Works:

Cuttack-753004, Orissa, India

 

 

Branch Office :

17th, Floor, Narain Manzil, 23 Barakhamba Road, New Delhi-110001, India

 

 

Kolkata Office:

Stephen House, 4, B. B. D. Bagh (East), Kolkata - 700 001, West Bengal, India

Tel. No.:

91-033-2231-4440/2248-6087

Fax No.:

9-033-2230-0393

E-Mail :

calcutta_marketing@ocl.in

ocl_calcutta@ocl.in

 

 

Bhubaneswar Office:

F-31/A, B.J.B. Nagar, Bhubaneswar - 751 014, Orissa, India

Tel. No.:

91-674-2430117, 2430076

Fax No.:

91-674-2432786

E-Mail :

ocl_bhubaneswar@ocl.in  

 

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Mr. Pradip Kumar Khaitan

Designation :

Chairman

Address :

B-103, Rai Enclave, 7/1a, Sunny Park, Kolkata-700019, West Bengal, India

Date of Birth/Age :

25.03.1941 

Qualification :

B.Com./ Ll.B./ Attorney-At-Law,Bell Chambers Gold Medalist 

 

 

Name :

Mr. Gaurav Dalmia

Designation :

Managing Director And Executive Vice Chairman

Address :

Dalmia House, 20 F, Prithviraj Road, New Delhi – 110 011, India

Date of Birth/Age :

26.09.1965

Qualification :

B.Sc.-Computer Science, University Of Salford, U.K./ M.B.A., Beta Gamma Sigma Honors, University Of Columbia, U.S.A. 

 

 

Name :

Mr. Dharmendar Nath Davar 

Designation :

Director

Address :

B-5/82, Safdurjung Enclave  New Delhi - 110 029, India

Date of Birth/Age :

08.08.1934 

Qualification :

B.Com.(Hons.)/ M.A.-Economics/ C.A.I.I.B.(Certified Associate, Indian Institute Of Bankers)/ Fellow, Economic Development Institute Of The World Bank 

 

 

Name :

Dr. S. R. Jain

Designation :

Director

 

 

Name :

Dr. Ramesh Chander Vaish

Designation :

Director

Address :

169, Golf Links, New Delhi - 110 003, India

Date of Birth/Age :

19.06.1941 

Qualification :

Ll.B./ M.A.-Accounting,University Of Florida,Usa/ M.Com./ F.C.A.(Fellow Member Of Institute Of Chartered Accountants Of India)/ Ph.D.-Economics 

 

 

Name :

Mr. Puneet Yadu Dalmia

Designation :

Director

Address :

18, Golf Links, Archbishop Makarious Marg,   New Delhi - 110 003, India

Date of Birth/Age :

15.10.1972 

Qualification :

B.Tech. ,Iit Delhi/ M.B.A.,Iim Bangalore 

 

 

Name :

Mr. V. P. Sood

Designation :

Director

Address :

E1-101, Shri Ram White House , 5th Main,  16th Cross,  R.T. Nagar, Bangalore – 560 032, India

Date of Birth/Age :

15.07.1940 

Qualification :

M.A.-Social Work 

 

 

Name :

Mr. D. D. Atal

Designation :

Whole Time Director and Chief Executive Office

 

 

Name :

Mr. Gautam Dalmia

Designation :

Director

Address :

No.1, Tees January Marg, New Delhi- 110011, India

Date of Birth/Age :

16.01.1968

 

 

Name :

Ms. Sudha Pillai

Designation :

Director

Address :

D-241, Sarvodaya Enclave, 2nd Floor, New Delhi- 110017, India

Date of Birth/Age :

01.051950

 

 

Name :

Mr. Jayesh Doshi

Designation :

Director

Address :

C-66, Jangpura Extension, New Delhi – 110014 India

Date of Birth/Age :

02.02.1965

 

 

Name :

Mr. Mahendra Singhi

Designation :

Director

Address :

B-36, Malcha Marg, New Delhi-110021 India

Date of Birth/Age :

30.09.1952

 

 

Name :

Mr. Amandeep

Designation :

Director

Address :

A-6/110, Pd-2, Mg Road, Sahara Grace Apartments, Gurgaon-122001, Haryana India

Date of Birth/Age :

17.05.1969

 

 

KEY EXECUTIVES

 

Name :

Mr. M. H. Dalmia

Designation :

Presidents

 

 

Name :

Mr. R. H. Dalmia

Designation :

Presidents

 

 

Name :

Sunil Kumar

Designation :

DGM(Marketing)

 

 

SHAREHOLDING PATTERN

 

As on 31.03.2015

 

Category of Shareholder

 

 

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

110541

0.19

http://www.bseindia.com/include/images/clear.gifBodies Corporate

42479273

74.66

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

20708

0.04

http://www.bseindia.com/include/images/clear.gifTrusts

20708

0.04

http://www.bseindia.com/include/images/clear.gifSub Total

42610522

74.89

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

42610522

74.89

 

 

 

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

17500

0.03

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

80389

0.14

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

294076

0.52

http://www.bseindia.com/include/images/clear.gifSub Total

391965

0.69

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

5279419

9.28

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

4767052

8.38

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

3430554

6.03

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

420708

0.74

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

153350

0.27

http://www.bseindia.com/include/images/clear.gifForeign Nationals

17080

0.03

http://www.bseindia.com/include/images/clear.gifClearing Members

250278

0.44

http://www.bseindia.com/include/images/clear.gifSub Total

13897733

24.42

Total Public shareholding (B)

14289698

25.11

 

 

 

Total (A)+(B)

56900220

100.00

 

 

 

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

 

 

 

Total (A)+(B)+(C)

56900220

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Trader and Exporter of Cement and Refractory.

 

 

Products :

Cement and Refractory

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Refractory

Countries :

Not Divulged

 

 

Imports :

 

Products :

Raw materials for Rafractory, Machineries for production of Cement and Refractory

Countries :

Not Divulged

 

 

Terms :

 

Selling :

L/C, Cash  and Credit (30 days)

 

 

Purchasing :

L/C, Cash  and Credit (30 days)

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Hindalco Industries Limited

Name of the Person :

Mr. Rajendro Singhi – AGM

Contact No.:

91-9088305096

91-33-22809710

Since How Long Known :

30 Years

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Excellent

Excellent

Excellent

Remark:

They gave us positive response about subject company they are satisfied with their payment behaviour and market goodwill.

 

Reference :

Almatis Aluumina Private Limited

Name of the Person :

Mr. Sarbapi Mukherji – Commercial Director

Contact No.:

91-9830171773

91-33-22421604

Since How Long Known :

1995

Maximum Limit Dealt :

Yearly 180.000 Million App

Experience :

Payment Behaviour

Market Goodwill

Overall

Excellent

Excellent

Excellent

Remark:

They gave us positive response about subject company they are satisfied with their payment behaviour and market goodwill.

 

 

Customers :

Reference :

Mukund Limited

Name of the Person :

Mr. Skand G Padalkar – Senior Manager Material

Contact No.:

91-22-21727409

Since How Long Known :

Not Divulged

 Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Tata Iron and Steel Company Limited

Name of the Person :

Mr. Avinash Kumar – (Senior Manager) Purchase

Contact No.:

91-657-6508084/6645325

Since How Long Known :

30 Years

 Maximum Limit Dealt :

Yearly 450.000 Million Appx

Experience :

Product Quality

Delivery Behaviour

Overall

Good

Good

Good

Remark:

They age us positive response about subject company they are satisfied with their products quality and delivery behaviour.

 

 

No. of Employees :

5000 (Approximately)

 

 

Bankers :

Bank Name

State Bank of India

Branch

Bisra Chowk, Rourkela – 769001, Orissa, India

Person Name (With Designation)

Mr. A Mohapatra

Contact Number

91-9938535030

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

2000.000 Million working Capital, INR 1000.000 Million -Non Fund bank working capital

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • United Bank of India
  • Punjab National Bank
  • UCO Bank
  • AXIS Bank Limited
  • International Finance Corporation
  • Export-Import Bank of India
  • Yes Bank Limited
  • HSBC Bank

 

 

Facilities :

Secured Loan

31.03.2015

31.03.2014

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Redeemable Non-Convertible Debentures

 

 

Syndicate Bank @ 9.40%

NA

0.000

Life Insurance Corporation of India @ 10.80% (Redeemable

during 2014-15 to 2016-17)

NA

480.000

Term Loans

From Banks

NA

 

State Bank of India #

(Repayable in 32 quarterly installments from Dec, 10)

NA

329.149

State Bank of India #

(Repayable in 24 quarterly installments from Dec, 12)

NA

497.307

State Bank of India #

(Repayable in 31 quarterly installments from June, 15)

NA

500.000

Export Import Bank of India #

(Repayable in 27 quarterly installments from June, 10)

NA

119.130

Export Import Bank of India (Foreign Currency Loan) #

(Repayable in 27 quarterly installments from June, 10)

NA

167.098

Axis Bank Limited #

(Repayable in 20 quarterly installments from Mar, 10)

NA

0.000

United Bank of India $

(Repayable in 24 quarterly installments from Apr, 11)

NA

166.480

United Bank of India $

(Repayable in 32 quarterly installments from Apr, 11)

NA

484.665

United Bank of India $

(Repayable in 26 quarterly installments from Sept, 15)

NA

452.884

Axis Bank Limited #

(Repayable in 30 quarterly installments from Sept, 15)

NA

250.000

From Others

 

 

International Finance Corporation @

(Repayable in 13 half yearly installments from Oct, 10)

NA

631.386

International Finance Corporation #

(Repayable in 14 half yearly installments from June, 16)

NA

1209.800

SHORT-TERM BORROWINGS

NA

 

Loans repayable on demand

Cash Credits from Banks*

NA

754.779

 

Other Loans and advances

Buyer's Credit from Banks $

NA

0.000

Total

NA

6042.678

 

Auditors :

 

Name :

V. Sankar Aiyar and Company

Chartered Accountants

Address :

Flat No.: 202, 203 and 301, Satyam Cinema Complex, Ranjit Nagar Community Centre, New Delhi – 110008, India 

Tel No.:

91-11-25702074/ 25702691/ 25704639

Fax No.:

91-11-25705010

Email :

newdelhi@vsa.co.in

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary (AS ON 31.03.2014) :
  • OCL Global Limited, Odisha Cement Limited (w.e.f 12.07.2013)

 

 

Step down Subsidiary(AS ON 31.03.2014) :
  • OCL China Limited

 

 

Enterprises over which key management personnel are able to exercise significant influence (AS ON 31.03.2014) :
  • Hari Machines Limited
  • Dalmia Bharat Seva Trust
  • Dalmia Institute of Scientific and Research (DISIR)
  • Dalton International Limited
  • Dalmia Cement (Bharat) Limited
  • Landmark Property Development Company. Limited
  • Shree Natraj Ceramic and Chemical Industries Limited
  • Astir Properties Private Limited
  • Landmark Landholdings Private Limited
  • Dalmia Bharat Sugar and Industries Limited
  • Dalmia Bharat Limited (Formaly Dalmia Bharat Entrprises Limited)
  • Calcom Cement India Limited
  • Debikay Systems Limited
  • Kiran Resources (Private) Private
  • Dalmia Refractories(Prop : Dalmia Bharat Enterprises Limited)
  • Dalmia Magnesite Corporation(Prop : Dalmia Bharat Sugar and Industries Private

 

                                                                       


 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.100/- each

Rs.10.000 Million

70000000

Equity Shares

Rs.2/- each

Rs.140.000 Million

 

Total

 

Rs.150.000 Million

 

Issued Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

63631805

Equity Shares

Rs.2/- each

Rs.127.264 Million

 

Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

56900220

Equity Shares

Rs.2/- each

Rs.113.800 Million

 

Add: Shares Forfeited Account

 

Rs.0.050 Million

 

Total

 

Rs.113.850 Million

 

a) Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period

 

Particulars

31.03.2014

No of Shares

Rs. in Million

Ordinary Shares outstanding at the beginning of the year

569.00

113.800

Ordinary Shares outstanding at the beginning of the year

-

-

Ordinary Shares bought back during the year

-

-

Ordinary Shares outstanding at the end of the year

569.00

113.800

 

b) Terms/ rights attached to ordinary shares

 

The Company has issued only one class of ordinary shares having a par value of Rs.2/- per share. Each holder of ordinary shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

 

During the year ended 31st March 2014, the amount of dividend per share recognised for distribution to ordinary shareholders is Rs.4/- (Previous year: Interim Dividend Rs.2.50/- and Final dividend Rs.1.50/- per share).

 

In event of liquidation of the company, the holders of ordinary shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts.

 

The distribution will be in proportion to the number of ordinary shares held by the shareholders.

 

c) Details of shareholders holding more than 5% shares in the Company

 

Name of the Shareholders

31.03.2014

 

No of Shares held

(In Lakhs)

% of Holding

Mridu Hari Dalmia (C/o M H Dalmia Parivar Trust)

12.778

22.46%

Dalmia Cement (Bharat) Limited

27.312

48.00%

Dharti Investments and Holdings Limited

3.477

6.11%

 

d) Aggregate number of bonus shares issued and shares bought back during the period of five years immediately preceding the reporting date: Nil.

 

In respect of shares issued for consideration other than cash, 1,23,52,500/- ordinary shares of Rs.2/- each fully paid up where alloted during the year 2007-08 to the shareholders of erstwhile Dalmia Cement (Meghalaya) Limited pursuant to a scheme of arrangement for merger.

 

 

As on 31.03.2015

 

Authorised Capital: Not Available

 

Issued, Subscribed & Paid-up Capital: Rs.113.900 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

113.900

113.850

113.850

(b) Reserves & Surplus

11848.200

10985.293

10272.812

(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)

11962.100

11099.143

10386.662

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

11004.300

5356.765

4325.914

(b) Deferred tax liabilities (Net)

1526.700

1364.104

1295.224

(c) Other long term liabilities

1468.500

1226.321

317.999

(d) long-term provisions

43.700

27.573

0.000

Total Non-current Liabilities (3)

14043.200

7974.763

5939.137

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1218.800

825.112

2464.438

(b) Trade payables

2883.000

2127.915

1609.733

(c) Other current liabilities

2426.900

2580.650

2988.803

(d) Short-term provisions

285.400

282.872

134.703

Total Current Liabilities (4)

6814.100

5816.549

7197.677

 

 

 

 

TOTAL

32819.400

24890.455

23523.476

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

13582.900

12285.562

10467.262

(ii) Intangible Assets

0.000

50.583

45.593

(iii) Capital work-in-progress

0.000

1588.312

1363.946

(iv) Intangible assets under development

0.000

0.000

3.106

(b) Non-current Investments

586.600

621.739

621.239

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

488.900

420.771

384.901

(e) Other Non-current assets

0.000

2.793

2.702

Total Non-Current Assets

14658.400

14969.760

12888.749

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

10551.700

2451.313

2651.872

(b) Inventories

3653.400

3187.464

3525.425

(c) Trade receivables

1991.100

2268.239

1749.503

(d) Cash and cash equivalents

892.800

855.532

1402.458

(e) Short-term loans and advances

971.000

1104.614

1270.198

(f) Other current assets

101.000

53.533

35.271

Total Current Assets

18161.000

9920.695

10634.727

 

 

 

 

TOTAL

32819.400

24890.455

23523.476

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

22149.200

18412.7810

18172.8890

 

Other Income

278.000

365.5390

253.1400

 

TOTAL

22427.200

18778.320

18426.029

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

4261.100

4020.018

4,468.651

 

Purchases of Stock-in-Trade

719.100

383.272

773.466

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(190.000)

323.726

(1037.117)

 

Employees benefits expense

1353.700

1117.398

965.921

 

Power and Fuel

3548.000

680.738

3172.274

 

Freight and Forwarding Expenses

 

 

 

 

On finished Products

3567.700

2696.641

265.800

 

On Clinker Transfer

606.300

349.341

0.000

 

Other expenses

4851.800

3789.649

5397.882

 

TOTAL

18717.700

13360.783

14006.877

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

3709.500

5417.537

4419.152

 

 

 

 

 

Less

FINANCIAL EXPENSES

710.100

2822.629

770.410

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2999.400

2594.908

3648.742

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1389.200

1264.072

1384.339

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1610.200

1330.836

2264.403

 

 

 

 

 

Less

TAX

473.400

352.073

700.544

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1136.800

978.763

1563.859

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

1555.881

2043.401

1957.091

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

NA

1200.000

1200.000

 

Transfer to Debenture Redemption Reserve

NA

0.000

12.367

 

Proposed Dividend

NA

227.601

85.350

 

Tax on Dividend

NA

38.682

14.505

 

Interim Dividend

NA

0.000

142.250

 

Tax on Interim Dividend

NA

0.000

23.077

 

Balance Carried to the B/S

NA

1555.881

2043.401

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Goods exported (F.O.B. Value)

NA

524.843

351.515

 

Interest receipt

NA

6.379

0.040

 

Service charges

NA

14.613

13.037

 

UK Vat refund

NA

0.018

0.023

 

Sale of Goods on High Seas

NA

0.000

0.797

 

TOTAL EARNINGS

NA

545.853

365.412

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

738.191

1725.287

 

Components and Stores parts

NA

220.907

470.114

 

Capital Goods

NA

604.291

14.921

 

TOTAL IMPORTS

NA

1563.389

2210.322

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

19.97

17.20

27.48

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

1173.405

1157.067

Cash generated from operations

NA

4091.701

4024.415

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

5.13

5.32

8.61

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

16.75

29.42

24.32

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.00

5.87

10.51

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.12

0.22

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.02

0.56

0.65

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.67

1.71

1.48

 

STOCK PRICES

 

Face Value

Rs.2/- each

Market Value

Rs.491.00/- each

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

113.850

113.850

113.900

Reserves & Surplus

10272.812

10985.293

11848.200

Net worth

10386.662

11099.143

11962.100

 

 

 

 

long-term borrowings

4325.914

5356.765

11004.300

Short term borrowings

2464.438

825.112

1218.800

Total borrowings

6790.352

6181.877

12223.100

Debt/Equity ratio

0.654

0.557

1.022

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

18172.889

18412.781

22149.200

 

 

1.320

20.293

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

18172.889

18412.781

22149.200

Profit

1563.859

978.763

1136.800

 

8.61%

5.32%

5.13%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

-----------------

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

-----------------

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

-----------------

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

-----------------

33

Market information

-----------------

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Public Deposits

Others

NA

68.866

SHORT-TERM BORROWINGS

 

 

Public Deposits

 

 

Related Parties

NA

2.675

Other than Related Parties

NA

67.658

Total

NA

139.199

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10576004

29/05/2015

6,000,000,000.00

AXIS TRUSTEE SERVICES LIMITED

2nd Floor-E, Axis House, Bombay Dying Mills, Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, INDIA

C56887763

2

10477022

11/03/2014 *

2,000,000,000.00

INTERNATIONAL FINANCE CORPORATION

2121, PENNSYLVANIA AVENUE, NW, WASHINGTON DC, WAS 
HINGTON DC, - 20433, UNITED STATES OF AMERICA

C00407759

3

10440970

11/03/2014 *

250,000,000.00

UNITED BANK OF INDIA

UNITED TOWER( GROUND FLOOR), NO.11, HEMANTA BASU 
SARANI, KOLKATA - 700001, West Bengal, INDIA

C00342261

4

10414992

11/03/2014 *

250,000,000.00

AXIS BANK LIMITED

2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, 
NEW DELHI, Delhi - 110001, INDIA

C00353102

5

10412512

11/03/2014 *

500,000,000.00

UNITED BANK OF INDIA

UNITED TOWER( GROUND FLOOR), NO.11, HEMANTA BASU 
SARANI, KOLKATA  - 700001, West Bengal, INDIA

C00339879

6

10369352

15/02/2013 *

1,500,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. 
ANNIE BESANT ROAD, WORLI, MUMBAI  - 400018 , Maharashtra, INDIA

B69189561

7

10355003

09/05/2012

600,000,000.00

Axis Bank Limited

Statesman House, 2nd Floor, 148, Barakhamba Road, 
New Delhi, Delhi - 110001, INDIA

B39415948

8

10345331

05/03/2012

400,000,000.00

Axis Bank Limited

Statesman House, 2nd Floor, 148, Barakhamba Road, 
New Delhi, Delhi - 110001, INDIA

B36194231

9

10175596

11/03/2014 *

970,000,000.00

UNITED BANK OF INDIA

Corporate Finance Branch, 106-109, Ansal Tower, 1st Floor, 38, Nehru Place, NEW DELHI- 110019, Delhi, INDIA

C00604264

10

10153198

28/01/2015 *

3,605,400,000.00

STATE BANK OF INDIA

SME BRANCH, ROURKELA, BIRSA CHOWK DISTRICT SUNDARGARH - 769001, ODISHA, Orissa, INDIA

C44178796

 

* Date of charge modification

 

 

FIXED ASSETS:

 

Tangible Assets

  • Land
  • Land under lease
  • Buildings
  • Plant and Equipment
  • Plant and Equipment under lease
  • Furniture and Fixtures
  • Vehicles
  • Office equipment’s
  • Railway Line
  • Live Stock

 

Intangible Assets

  • Computer software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.56

UK Pound

1

Rs.98.22

Euro

1

Rs.69.93

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

PNM

 

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

8

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--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

 

67

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.