MIRA INFORM REPORT

 

 

Report No. :

333548

Report Date :

23.07.2015

 

IDENTIFICATION DETAILS

 

Name :

ANJANI PORTLAND CEMENT LIMITED

 

 

Registered Office :

306A, The Capital, 3rd Floor, Plot No. C-70, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra

Tel. No.:

91-40-23353096/ 106/ 93

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

17.12.1983

 

 

Com. Reg. No.:

11-265166

 

 

Capital Investment / Paid-up Capital :

Rs. 183.896 Million

 

 

CIN No.:

[Company Identification No.]

L26942MH1983PLC265166

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

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

 

 

Line of Business :

Manufacturer and Seller of Cement.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (53)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Maximum Credit Limit :

USD 2200000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company incorporated during the year 1983 having a good track record.

 

Available financial indicates company sound financial risk profile marked by healthy networth position with good profitability and favorable gap between trade payable and trade receivable.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

In view of long standing record and sound financial base, the company can be considered normal for business dealings at usual trade terms and conditions.   

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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

CARE

Rating

Proposed Non-Convertible Debenture = AA- (SO)

Rating Explanation

High degree of safety and carry low credit risk.

Date

November 21, 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 31-03-2013.

 

 

INFORMATION DECLINED

 

MANAGEMENT NON-COOPERATIVE

 

(CONTACT NO.: 91-40-23353096)

 

 

LOCATIONS

 

Registered Office :

306A, The Capital, 3rd Floor, Plot No. C-70, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

avrao_anjanicement@yahoo.com

Website :

http://www.anjanicement.com

 

 

Corporate Office :

Anjani Cement Centre, Plot No. 7 & 8, D. No. 8-2-248/1/7, Nagarjuna Hills, Main Road, Punjagutta, Hyderabad – 500082, Andhra Pradesh, India

Tel. No.:

91-40-23353096/ 106/ 93

Fax No.:

91-40-23353093

E-Mail :

info@anjanicement.com

 

 

Factory :

Anjani Puram, Chintalapalem Village, Gudimalkapuram Post, Mellacheruvu, Mandal, Nalgonda - 508246, Andhra Pradesh, India

Tel. No.:

91-8683-230168/ 217560/ 217230

Fax No.:

91-8683-230024

E-Mail :

works@anjanicement.com

 

 

Marketing Branch Offices :

Located at:

 

·         Visakhapatnam 

·         Vijayawada 

·         Bhimavaram

·         Kakinada 

·         Chennai 

·         Bangalore 

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mrs. Geetha Muthiah

Designation :

Managing Director

Date of Birth/Age :

17.02.1977

Qualification :

B.E

Expertise in Specific Functional Area :

Associated with Industry and other businesses for nearly more than a decade.

Date of Appointment :

16.05.2014

 

 

Name :

Mr. B. Ramesh

Designation :

Additional Director

Date of Birth/Age :

09.05.1959

Qualification :

B. Sc, PGDMM, PGDIM

Expertise in Specific Functional Area :

Wide experience in the cement industry with 33 years of experience.

Date of Appointment :

16.05.2014

 

 

Name :

Mr. P. Gopal

Designation :

Additional Director

Date of Birth/Age :

12.03.1970

Qualification :

Diploma, Mechanical Engineering, Industry Pollution and Control

Expertise in Specific Functional Area :

Wide experience in the industry with 21 years of experience.

Date of Appointment :

16.05.2014

 

 

Name :

Mr. V. Subramanian

Designation :

Additional Director

Date of Birth/Age :

15.06.1964

Qualification :

B.E

Expertise in Specific Functional Area :

Wide experience in the industry with 32 years of experience.

Date of Appointment :

16.05.2014

 

 

Name :

Mr. K. V. Vishnu Raju

Designation :

Director

Date of Birth/Age :

31.01.1964

Qualification :

M.S

Expertise in Specific Functional Area :

Over 2 decades of experience in the cement industry.

Date of Appointment :

23.08.1999

 

 

Name :

Mr. P. V. R. L. Narasimha Raju

Designation :

Director

Date of Birth/Age :

13.01.1964

Qualification :

B.com

Expertise in Specific Functional Area :

Over 2 decades of experience in the cement industry

Date of Appointment :

23.08.1999

 

 

Name :

Mr. R. A. Rama Raju

Designation :

Director (upto 16.05.2014)

 

 

Name :

Mr. P. S. Ranganath

Designation :

Director (upto 16.05.2014)

 

 

Name :

Mr. P. V. Subba Rao

Designation :

Director (upto 16.05.2014)

 

 

Name :

Mr. P. Ramachandra Raju

Designation :

Director (upto 16.05.2014)

 

 

KEY EXECUTIVES

 

Name :

Mr. N. Venkata Raju

Designation :

Vice President (Works)

 

 

Name :

Mr. Ch. Gandhi Raju

Designation :

Vice President (Marketing)

 

 

Name :

Mr. P. S. Raju

Designation :

Group General Manager (HR & MS)

 

 

Name :

Mr. P. Ganapathi Raju

Designation :

Sr. General Manager (Q.A)

 

 

Name :

Mr. M. Nagabhushana Rao

Designation :

Sr. General Manager (Mechanical)

 

 

Name :

Mr. K. V. Gopala Raju

Designation :

General Manager (Purchase)

 

 

Name :

Mr. D. V. Subba Raju

Designation :

General Manager (E & I)

 

 

Name :

Mrs. Anu Nair

Designation :

Company Secretary

Date of Appointment :

04.06.2014

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.06.2015

 

Category of Shareholder

Total No. of Shares

As a %

(A) Shareholding of Promoter and Promoter Group

 

 

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

 

 

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

13792197

75.00

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

13792197

75.00

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

 

 

Total shareholding of Promoter and Promoter Group (A)

13792197

75.00

(B) Public Shareholding

 

 

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

 

 

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

34400

0.19

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

7800

0.04

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

42200

0.23

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

 

 

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

896885

4.88

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

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

1873650

10.19

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

1766771

9.61

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

17894

0.10

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

3852

0.02

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

14042

0.08

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

4555200

24.77

Total Public shareholding (B)

4597400

25.00

Total (A)+(B)

18389597

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)

18389597

100.00

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Seller of Cement.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Imports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

(As on 31.03.2014)

Bank Name:

Not Divulged

Branch:

Not Divulged

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         State Bank of India

·         Punjab National Bank

·         Indian Overseas Bank

·         State Bank of Hyderabad

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loans from Banks

528.000

741.736

Vehicle Loans

0.532

0.921

SHORT TERM BORROWINGS

 

 

Loans from Banks

Cash Credit Facilities

536.603

508.192

 

 

 

Total

 

1065.135

1250.849

 

Banking Relations :

--

 

 

Statutory Auditors :

(As on 31.03.2014)

 

Name :

M. Anandam and Company

Chartered Accountants

Address :

7 ‘A’, Surya Towers, S.P. Road, Secunderabad – 500003, Andhra Pradesh, India

 

 

Cost Auditors :

(As on 31.03.2014)

 

Name :

Narasimha Murthy and Company

Cost Accountants

Address :

3-6-365, 104 and 105, Pavani Estate, Himayat Nagar, Hyderabad – 500029, Andhra Pradesh, India

 

 

Internal Auditors :

(As on 31.03.2014)

 

Name :

M. Bhaskara Rao and Company

Chartered Accountants

Address :

5-4, 5th Floor, “Kautilya”, 6-3-652, Somajiguda, Hyderabad – 500482, Andhra Pradesh, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary/ Associate Company :

(As on 31.03.2014)

·         Vennar Ceramics Limited (Upto 06.03.2014)

·         Hitech Print Systems Limited (Upto 06.03.2014)

 

 

Enterprises owned or significantly influenced by Key Management Personnel (KMP) :

(As on 31.03.2014)

·         Sai Aditya foods and Retail Private Limited

·         Anjani Projects and Constructions Limited

·         Sri Vishnu Educational Society

·         Anjani Cement (Karnatak) Limited

·         Raasi Enterprises Limited

·         Vennar Ceramics Limited

·         Hitech Print Systems Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000000

Equity Shares

Rs. 10/- each

Rs. 300.000 Million

1000000

14% Cumulative Redeemable Preference Shares

Rs. 10/- each

Rs. 10.000 Million

 

 

 

 

 

Total

 

Rs. 310.000 Million

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

18394463

Equity Shares

Rs. 10/- each

Rs. 183.945 Million

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

18389597

Equity Shares

Rs. 10/- each

Rs. 183.896 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

183.896

183.896

183.896

(b) Reserves & Surplus

590.717

428.049

621.533

(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)

774.613

611.945

805.429

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

1753.305

717.034

1587.077

(b) Deferred tax liabilities (Net)

18.128

47.540

135.461

(c) Other long term liabilities

23.819

17.529

21.276

(d) long-term provisions

21.830

19.613

10.783

Total Non-current Liabilities (3)

1817.082

801.716

1754.597

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

157.340

741.603

508.192

(b) Trade payables

70.021

377.938

191.317

(c) Other current liabilities

306.988

751.258

558.224

(d) Short-term provisions

13.752

2.598

5.232

Total Current Liabilities (4)

548.101

1873.397

1262.965

 

 

 

 

TOTAL

3139.796

3287.058

3822.991

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2044.463

2137.380

2308.543

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

6.569

2.562

2.808

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

188.534

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

55.412

55.845

39.379

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2106.444

2195.787

2539.264

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.283

0.449

0.000

(b) Inventories

374.127

303.774

398.619

(c) Trade receivables

153.167

156.437

235.763

(d) Cash and cash equivalents

30.948

49.144

38.242

(e) Short-term loans and advances

474.827

580.467

611.103

(f) Other current assets

0.000

1.000

0.000

Total Current Assets

1033.352

1091.271

1283.727

 

 

 

 

TOTAL

3139.796

3287.058

3822.991

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Revenue from Operations

2596.668

2806.291

2880.399

 

 

Other Income

11.340

21.233

9.029

 

 

TOTAL                                     (A)

2608.008

2827.524

2889.428

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

361.084

413.962

427.483

 

 

Purchases of Traded Goods

0.000

5.954

10.708

 

 

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

52.572

40.184

(87.576)

 

 

Employees benefits expense

150.177

144.687

134.226

 

 

Power and Fuel

808.054

0.000

0.000

 

 

Freight and Forwarding Charges

274.324

0.000

0.000

 

 

Other expenses

438.166

1990.624

1870.319

 

 

TOTAL                                     (B)

2084.377

2595.411

2355.160

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

523.631

232.113

534.268

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

277.987

353.806

344.568

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

245.644

(121.693)

189.700

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

105.937

149.091

143.379

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX (E-F)                 (G)

139.707

(270.784)

46.321

 

 

 

 

 

Less

TAX                                                                  (H)

(27.419)

(77.300)

15.410

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX (G-H)                   (I)

167.126

(193.484)

30.911

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

9.09

(10.52)

1.68

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

364.056

289.062

 

 

 

 

Cash generated from operations

NA

748.214

476.692

 

 

 

 

Net Cash Flow from Operating Activities

NA

739.912

435.665

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

6.44

(6.89)

1.07

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

20.17

8.27

18.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.46

(8.24)

1.28

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

(0.44)

0.06

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.47

2.98

2.96

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.89

0.58

1.02

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

Rs. 10.00/-

 

 

Market Value

Rs. 172.60/-

 

 

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

183.896

183.896

183.896

Reserves & Surplus

621.533

428.049

590.717

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

805.429

611.945

774.613

 

 

 

 

Long-term borrowings

1587.077

717.034

1753.305

Short term borrowings

508.192

741.603

157.340

Total borrowings

2384.331

1822.693

1910.645

Debt/Equity ratio

2.960

2.979

2.467

 

 

 

 

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

2880.399

2806.291

2596.668

 

 

-2.573

-7.470

 

 

 

 

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

2880.399

2806.291

2596.668

Profit/ (Loss)

30.911

(193.484)

167.126

 

1.07%

(6.89%)

6.44%

 

 

 

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

No

8

Designation of contact person

No

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)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

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

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10538634

13/02/2015 *

690,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG, GROUND FLOOR, 17,, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

C44271104

2

10529471

06/11/2014

600,000,000.00

HDFC BANK LIMITED

115, RK SALAI, CHENNAI, TAMIL NADU - 600004, INDIA

C32477804

3

10529469

03/11/2014

300,000,000.00

HDFC BANK LIMITED

115, RK SALAI, CHENNAI, TAMIL NADU - 600004, INDIA

C32477382

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Public Deposits

0.000

43.849

From Related Parties

0.000

33.899

From Other Parties

188.502

766.672

SHORT TERM BORROWINGS

 

 

Loans from Related Party

Anjani Projects and Constructions Limited

205.000

0.000

 

 

 

Total

 

393.502

844.420

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

Claims against the Company not acknowledged as debt:

 

 

Disputed Liability in respect of Tax demands

0.000

8.302

Disputed Liability in respect of CENVAT Credit

18.032

18.032

Disputed Liability in respect of FSA charges payable to APCPDCL

4.350

4.350

Disputed Demand charges payable to AP Transco

2.539

2.539

Disputed Penal charges payable to AP Transco

38.122

0.000

Disputed Liability in respect of Customs relating to Coal

0.916

0.000

Corporate Guarantee given to erstwhile Subsidiary and Associate Companies

444.800

348.637


FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and Equipment

·         Vehicles

·         Office Equipment

·         Furniture and Fixtures

 

 

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. 63.53

UK Pound

1

Rs. 99.19

Euro

1

Rs. 69.60

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

53

 

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.