MIRA INFORM REPORT
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Report No. : |
334200 |
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Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
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Name : |
JINDAL STEEL AND POWER LIMITED |
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Registered
Office : |
O.P. Jindal Marg, Hisar – 125005, Haryana |
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Tel No.: |
91-1662-222471-84 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
28.09.1979 |
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Com. Reg. No.: |
05-009913 |
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Capital
Investment / Paid-up Capital : |
Rs. 914.900 Million |
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CIN No.: [Company Identification
No.] |
L27105HR1979PLC009913 |
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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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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Iron and Steel Products and also Power Generation. |
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No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (62) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a part of Jindal group and it is one of India’s key steel producers
and has a sizeable presence in power generation and mining. It is
well-established company having fine track record. For the financial year ended 2015, the company has reported loss from
its operation activities. However, the rating takes into consideration JSPL’s healthy business
risk profile supported by strong market position in the steel industry and
adequate financial base of the company. Trade relations are reported as fair. Payments are reported to be
regular and as per commitment. In view being a part of “Jindal Group” backed by experience and
resources promoters, the company can be considered good for normal business
dealings at usual trade terms and conditions.
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long-Term Bank Facilities AA |
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Rating Explanation |
High degree of
safety and very low credit risk. |
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Date |
May 18, 2015 |
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Rating Agency Name |
CARE |
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Rating |
Short-Term Bank Facilities A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
May 18, 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 DENIED BY
|
Name : |
Mr. Harish Dua |
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Designation : |
Chief Finance Officer |
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Contact No.: |
91-11-26188340 |
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Date : |
23.07.2015 |
LOCATIONS
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Registered Office : |
O.P. Jindal Marg, Hisar – 125005, Haryana, India |
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Tel. No.: |
91-1662-222471-84 |
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Fax No.: |
91-1662-222476/
499 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
Jindal Centre,
12, Bhikaiji Cama Place, New Delhi – 110066, India |
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Tel. No.: |
91-11-26188340-50 |
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Fax No.: |
91-11-26161271/
26170691 |
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E-Mail : |
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Factory 1 : |
Karsia Road, Post Box No.16, Raigarh – 496001, Chhattisgarh, India |
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Tel. No.: |
91-7762-304300/ 227001-05 |
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Fax No.: |
91-7762-227022-23/ 227050 |
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Factory 2 : |
13 KM Stone, G.E.
Road, Mandir Hasaud, Raipur – 492001, Chhattisgarh, India |
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Tel. No.: |
91-771-2471205/
07/ 3054600 |
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Fax No.: |
91-771-2471404/
2471214/ 3054666 |
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Factory 3 : |
Plot No. 751, Near Panchpukhi Chhaka, Simplipada, Angul –
759122, Odisha, India |
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Factory 4 : |
Balkudra,
Patratu, District Ramgarh – 829143, Jharkhand, India |
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Tel. No.: |
91-6553-275724/
275726 |
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Fax No.: |
91-6553-275744 |
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Factory 5 : |
Iron Ore Pellet
Plant, Commercial Office, Plot No. 507/365, Barbil Joda – Highway, Barbil, District Keonjhar –
758035, Odisha, India |
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Factory 6 : |
TRB Iron Ore
Mines, At P.O. Tensa, District Sundergarh – 770042, Orissa, India |
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Tel. No.: |
91-6625-236023/
24 |
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Fax No.: |
91-6625-236022 |
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Factory 7 : |
Jindal Open Cast Coal Mine, Dhorabatta, Dongamahua, Raigarh – 496001,
Chattisgarh, India |
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Factory 8 : |
201 to 204 Industrial Park SSD, Punjipatra, Raigarh – 496001, Chhattisgarh, India |
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Marketing Office : |
SCO-24, Sector 26, Madhya Marg, Chandigarh – 160019, India |
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Regional Offices : |
Located at: · Gurgaon · Ahmedabad · Pune · Kolkata · Patna · Visakhapatnam · Jaipur · Nagpur · Chennai · Chandigarh · Kanpur · Ludhiana · Jammu · Raipur · Bhubaneswar · Mumbai |
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Retail Sales Team : |
Located at: · Gurgaon · Ahmedabad · Pune · Kolkata · Patna · Chennai · Trichy · Nagpur · Hyderabad · Bengaluru · Visakhapatnam · Cochin · Jaipur · Shimla · Jamshedpur · Guwahati · Kanpur · Ludhiana · Chandigarh · Jammu · Raipur · Srinagar · Bhubaneshwar · Mumbai |
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Other Marketing Offices : |
Located At: · Gurgaon · Raipur · Bhopal · Kochi · Kolkata · Jamshedpur · Bangalore · Kanpur · Mumbai · Bhubaneswar · Chennai · Jaipur · Hyderabad · Ludhiana · Ahmedabad · Telangana · Nagpur · Patna · Ranchi · Visakhapatnam |
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International Locations : |
Located at: · China · Oman · South Africa · Indonesia · Madagascar · Mozambique · Zambia · Namibia · Dubai · Tanzania · Botswana · Australia |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mrs. Savitri Jindal |
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Designation : |
Chairperson Emeritus |
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Name : |
Mr. Naveen Jindal |
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Designation : |
Chairman |
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Date of Appointment
: |
09.05.1998 |
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DIN No : |
00001523 |
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Name : |
Mr. Ravikant Uppal |
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Designation : |
Managing Director and Group CEO |
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Date of Appointment
: |
01.10.2012 |
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DIN No : |
00025970 |
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Name : |
Mrs. Shallu Jindal |
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Designation : |
Director |
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Date of Appointment
: |
27.04.2012 |
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DIN No : |
01104507 |
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Name : |
Mr. Ratan Jindal |
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Designation : |
Director |
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Address : |
Jindal House, Model Town, Hisar, 125005, Haryana, India |
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Date of Appointment
: |
28.04.1999 |
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DIN No : |
00054026 |
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Name : |
Mr. K. Rajagopal |
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Designation : |
Group Chief Financial Officer and Director |
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DIN No : |
00135666 |
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Name : |
Mr. Dinesh Kumar Saraogi |
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Designation : |
Whole time Director |
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Name : |
Mr. Ram Vinay Shahi |
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Designation : |
Independent Director |
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Address : |
14, Factory Road, Block No. 1, Ground Floor, ADJ. Vardhman Mahavir Medical College, Safdarjung, Delhi, 110029, India |
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Date of Appointment
: |
15.10.2007 |
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DIN No : |
01337591 |
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Name : |
Mr. Arun Kumar Purwar |
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Designation : |
Director |
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Address : |
C - 2303/4, floor - 23, Ashok Tower, 63/7-4, Dr. SS RAO Road, Parel, Mumbai, 400012, Maharashtra, India |
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Date of Appointment
: |
30.07.2007 |
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DIN No : |
00026383 |
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Name : |
Mr. Arun Kumar |
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Designation : |
Director |
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Address : |
E-202 Som Vihar, Sector 10 R.K.Puram, New Delhi, 110022, Delhi, India |
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Date of Appointment
: |
29.09.2009 |
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DIN No : |
01772163 |
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Name : |
Mr. Haigreve Khaitan |
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Designation : |
Director |
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Address : |
1104 Sterling Seaface, DR. Annie Besant Road, Worli, Mumbai, 400018, Maharashtra, India |
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Date of Appointment
: |
14.01.2009 |
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DIN No : |
00005290 |
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Name : |
Mr. Hardip Singh Wirk |
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Designation : |
Director |
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Address : |
2, Andheria Morh, Mehrauli, New Delhi, 110030, Delhi, India |
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Date of Appointment
: |
14.01.2009 |
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DIN No : |
00995449 |
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Name : |
Mr. Sudershan Kumar Garg |
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Designation : |
Director |
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Address : |
111, Akash Neem Marg, DLF Phase II, Gurgaon, 122002, Haryana, India |
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Date of Appointment
: |
09.11.2012 |
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DIN No : |
00055651 |
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Name : |
Mr. Ajit M. Ingle |
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Designation : |
Independent Director (Nominee Director, IDBI Bank Limited) |
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Name : |
Mr. Shalil Mukund Awale |
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Designation : |
Nominee director |
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Address : |
D-44, Maker Kundan Gardens, Near SNDT College, Juhu Tara Road, Santacruz (W), Mumbai, 400049, Maharashtra, India |
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Date of Appointment : |
04.03.2015 |
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DIN No : |
06804536 |
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Name : |
Mr. Rajeev Rupendra Bhadauria |
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Designation : |
Whole-time director |
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Address : |
A-103, Kshitij, C/O Mahindra GESCO, Ram Mandir Road, Opposite Movie Star Theatre, Goregaon (West), Mumbai, 400104, Maharashtra, India |
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Date of Appointment : |
27.05.2015 |
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DIN No : |
00376562 |
KEY EXECUTIVES
|
Name : |
Mr. T. K. Sadhu |
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Designation : |
Company Secretary
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Name : |
Mr. Harish Dua |
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Designation : |
Chief Finance Officer |
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Address : |
C-58, Soami Nagar,, New Delhi, 110017, India |
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Date of Appointment : |
01.04.2015 |
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Name : |
Mr. Jagdish Patra |
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Designation : |
Secretary |
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Address : |
B-28, Jaipuria Enclave, Kaushambi, Ghaziabad, 201010, Uttar Pradesh, India |
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Date of Appointment : |
01.08.2014 |
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PAN No : |
AHDPP2428H |
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholder |
Total No. of Shares held in Dematerialized Form |
Total Shareholding as a % of Total No. of Shares |
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(A) Shareholding of Promoter and Promoter Group |
||
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|
16091228 |
1.76 |
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|
476314058 |
52.06 |
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|
492405286 |
53.82 |
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|
775470 |
0.08 |
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|
60703736 |
6.63 |
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|
7329360 |
0.80 |
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|
7329360 |
0.80 |
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|
68808566 |
7.52 |
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Total shareholding of Promoter and Promoter Group (A) |
561213852 |
61.34 |
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(B) Public Shareholding |
||
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|
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|
8922115 |
0.99 |
|
|
1533665 |
0.17 |
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|
14270925 |
1.56 |
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|
175443561 |
19.19 |
|
|
200170266 |
21.91 |
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|
|
|
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|
33172114 |
3.67 |
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|
|
|
|
|
70156908 |
9.13 |
|
|
2005405 |
0.27 |
|
|
30509762 |
3.68 |
|
|
366278 |
0.04 |
|
|
4893584 |
0.88 |
|
|
25216420 |
2.76 |
|
|
33480 |
0.00 |
|
|
135844189 |
16.75 |
|
Total Public shareholding (B) |
336014455 |
38.66 |
|
Total (A)+(B) |
897228307 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
||
|
|
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
897228307 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Iron and Steel Products and also Power Generation. |
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Products : |
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Brand Names : |
Jindal Panther™ |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2014)
INSTALLED CAPACITY
|
SR. NO. |
PARTICULARS |
UNIT |
INSTALLED CAPACITY |
|
|
AT RAIGARH |
|
|
|
1 |
Sponge Iron |
M.T. |
13,70,000 |
|
2 |
Mild Steel |
M.T. |
30,00,000 |
|
3 |
Ferro Alloys |
M.T. |
36,000 |
|
4 |
Power |
MW |
851 |
|
5 |
Hot Metal/Pig Iron |
M.T. |
16,70,000 |
|
6 |
Rail & Universal Beam Mill |
M.T. |
7.50.000 |
|
7 |
Plate Mill |
M.T. |
10,00,000 |
|
8 |
Fabricated Structures |
M.T. |
1,20,000 |
|
9 |
Cement Plant |
M.T. |
5,00,000 |
|
10 |
Medium & Light Section Mill |
M.T. |
6,00,000 |
|
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AT RAIPUR |
M.T. |
|
|
11 |
Steel Casting and Fabrication |
M.T. |
30,000 |
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12 |
CF Castings |
M.T. |
-- |
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AT BARBIL |
M.T. |
|
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13 |
Pelletisation Plant |
M.T. |
45,00,000 |
|
|
AT SATARA
(MAHARASHTRA) |
M.T. |
|
|
14 |
Wind Energy |
MW |
24 |
|
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AT PATRATU |
M.T. |
|
|
15 |
Wire Rod |
M.T. |
6,00,000 |
|
16 |
Bar Mill |
M.T. |
10,00,000 |
|
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AT ANGUL |
M.T. |
|
|
17 |
Power |
MW |
810 |
|
18 |
Fabricated Structures |
M.T. |
84,000 |
|
19 |
Plate Mill |
M.T. |
12,00,000 |
|
20 |
Mild Steel |
M.T. |
15,00,000 |
NOTE:
Installed capacity is as certified by the management and relied upon by the auditors being a technical matter.
PRODUCTION
|
SR. NO. |
PARTICULARS |
UNIT |
PRODUCTION |
|
1 |
Sponge Iron |
M.T. |
13,19,985 |
|
2 |
M.S. Round |
M.T. |
5,68,120 |
|
3 |
H.C. Ferro Chrome/Silico Mangnese |
M.T. |
35,008 |
|
4 |
Power |
MILLION KWH |
5,589 |
|
5 |
Hot Metal/Pig Iron |
M.T. |
16,69,799 |
|
6 |
Parallel Flange Beam/Columns |
M.T. |
2,52,054 |
|
7 |
Universal Plate/Coil |
M.T. |
7,99,888 |
|
8 |
Other Finished Steel Products |
M.T. |
1,00,911 |
|
9 |
Other Semi Steel Products |
M.T. |
23,17,659 |
|
10 |
Machineries |
M.T. |
14,033 |
|
11 |
Wire Rod |
M.T. |
3,67,265 |
|
12 |
Bars |
M.T. |
3,79,963 |
|
13 |
Fabricated Structures |
M.T. |
87,401 |
|
14 |
Cement |
M.T. |
4,76,197 |
|
15 |
Medium & Light Sections |
M.T. |
2,53,532 |
|
16 |
Iron Ore Pellets |
M.T. |
41,48,974 |
|
17 |
Wind Energy |
M.T. |
54.95 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
75 (Approximately) |
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Bankers : |
· Punjab National Bank · State Bank of Patiala · ICICI Bank Limited · Canara Bank · IDBI Bank Limited · Axis Bank Limited · HDFC Bank Limited |
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Facilities : |
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Finance
Institute : |
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Auditors : |
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|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View Corporate Tower – B, Sector – 42, Sector Road, Gurgaon –
122002, Haryana, India |
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Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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Statutory Auditors : |
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Name : |
S.S. Kothari Metha and Company Chartered Accountants |
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Address : |
145-149, Tribhuwan Complex, Ishwar Nagar, Mathura Road, New Delhi –
110065, India |
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Tel. No.: |
91-11-46708888 |
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Fax No.: |
91-11-66628889 |
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E-Mail : |
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Cost Auditors : |
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Name : |
Ramanath Iyer and Company Cost Accountants |
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Address : |
808, Pearls Business Park, Netaji Subhash Place, Delhi - 110034, India
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Subsidiaries, Step Down Subsidiaries (As on 31.03.2014) : |
Subsidiaries ·
Jindal Power Limited ·
Jindal Steel Bolivia SA ·
Jindal Steel and Power(Mauritius) Limited ·
Skyhigh Overseas Limited ·
Everbest Infrastructure and Development (w.e.f
01.03.2014) ·
JSPL Mining and Steel Limited (w.e.f 31.12.2013) Subsidiaries of
Jindal Power Limited ·
Attunli Hydro Electric Power Company Limited ·
Etalin Hydro Electric Power Company Limited ·
Jindal Hydro Power Limited ·
Jindal Power Distribution Limited ·
Ambitious Power Trading Company Limited ·
Jindal Power Transmission Limited ·
Jindal Power Ventures (Mauritius) Limited (w.e.f
18.02.2014) ·
Kamala Hydro Electric Power Company Limited ·
Kineta Power Private Limited (w.e.f 06.09.2013) ·
Uttam Infralogix Limited (w.e.f 07.10.2013) Subsidiaries of
Sky high Overseas Limited ·
Gasto Liquids lnternational S.A Subsidiaries of
Jindal Steel and Power (Mauritius) Limited ·
Blue Castle Ventures Limited (with effect from
17.02.2014) ·
Brake Trading (Private) Limited (with effect from
29.07.2013) ·
Enduring Overseas Inc ·
Fire Flash Investments (Private) Limited (with
effect from 20.06.2013) ·
Harmony Overseas Limited Jindal Steel and Power
Limited ·
Jin Africa Limited ·
Jindal (BVI) Limited ·
Jindal Africa Investments (Private) Limited ·
Jindal Africa Liberia Limited ·
Jindal Africa SA ·
Jindal Botswana (Private) Limited ·
JINDAL Brasil Mineração S/A ·
Jindal Investimentos LDA ·
Jindal Investment Holding Limited. ·
Jindal KZN Processing (Private) Limited (with
effect from 01.04.2013) ·
Jindal Madagascar SARL ·
Jindal Mining and Exploration Limited ·
Jindal Mining Namibia (Private) Limited ·
Jindal Steel and Minerals Zimbabwe Limited ·
Jindal Steel and Power (BC) Limited ·
Jindal Steel and Power(Australia) Private Limited ·
Jindal Tanzania Limited ·
Jindal Zambia Limited ·
JSPL Mozambique Minerais LDA ·
Jublient Overseas Limited ·
Landmark Mineral Resources (Private) Limited
(with effect from 01.04.2013) ·
Osho Madagascar SARL ·
Panacore Investment Limited, Mauritius ·
PT Jindal Overseas ·
Rolling Hills Resources LLC (under liquidation) ·
Shadeed Iron and Steel L.L.C ·
Sungu Sungu Private Limited (with effect from
14.05.2013) ·
Tablet Blue Trade and Invest (Private) Limited ·
Trans Asia Mining Private. Limited ·
Trans-Atlantic Trading Limited ·
Vision Overseas Limited ·
Wollongong Coal Limited (with effect from 15.11.
2013) Others ·
Belde Empreendi Mentos Mineiros Limited, a
subsidiary of JSPL Mozambique Minerais LDA ·
Eastern Solid Fuels (Private) Limited, a subsidiary
of Jindal Mining and Exploration Limited ·
Ericure (Private) Limited, a subsidiary of Tablet
blue Trade and Investment (Private) Limited ·
PTBHI Mining lndonesia, asubsidiary of Jindal
Investment Holding Limited ·
PT Sumber Surya Gemilang, a subsidiary of PT.BHI
Mining Indonesia ·
PT Maruwai Bara Abadi, a subsidiary of PT.BHI
Mining Indonesia ·
Jindal Mining SA (Private) Limited, a subsidiary
of Eastern Solid Fuels (Private) Limited ·
Bon-Terra Mining (Private) Limited, a subsidiary
of Jindal (BVI) Limited ·
CIC(Barbados) Holding Corp, a subsidiary of
Jindal (BVI) Limited ·
CIC Energy (Bahamas) Limited, a subsidiary of
Jindal (BVI) Limited ·
Jindal Energy (Botswana) Private Limited, a
subsidiary of Jindal (BVI) Limited ·
Jindal Energy (SA) Private Limited, a subsidiary
of Jindal (BVI) Limited ·
CIC Transafrica (Barbados) Corp, a subsidiary of
Jindal (BVI) Limited ·
Jindal Resources (Botswana) Private Limited, a
subsidiary of CIC Transafrica (Barbados) Corp ·
Trans Africa Rail (Private) Limited, a subsidiary
of CIC Transafrica (Barbados) Corp ·
Sad-Elec (Private) Limited, a subsidiary of
Jindal energy (SA) Private Limited ·
CIC (Barbados) Mining Corp, a subsidiary of CIC
(Barbados) Holding Corp ·
CIC (Barbados) Energy Corp, a subsidiary of CIC (Barbados)
Holding Corp ·
Meepong Resources (Mauritius) (Private) Limited,
a subsidiary of CIC (Barbados) Mining Corp ·
Meepong Resources (Private) Limited, a subsidiary
of Meepong Resources (Mauritius) (Private) Limited ·
Meepong Energy (Mauritius) (Private) Limited, a
subsidiary of CIC (Barbados) Energy Corp ·
Meepong Energy (Private) Limited, a subsidiary of
Meepong Energy (Mauritius) (Private) Limited ·
Meepong Service (Private) Limited, a subsidiary
of Meepong Energy (Private) Limited ·
Meepong Water (Private) Limited, a subsidiary of
Meepong Energy (Private) Limited ·
Core Ambition Limited, a subsidiary of Panacore
Investment Limited ·
Core Forte Limited, a subsidiary of Panacore
Investment Limited ·
Core Integrity Limited, a subsidiary of Panacore
Investment Limited ·
Core Vision Limited, a subsidiary of Panacore
Investment Limited ·
Peerboom Coal (Private) Limited ,a subsidiary of
Jindal Africa Investment (Private) Limited ·
Shadeed Iron and Steel Company Limited, a
subsidiary of Shadeed Iron and Steel LLC ·
Southbulli Holding Private Limited, a subsidiary
of Wollongong Coal Limited ·
Oceanic Coal Resources NL, a subsidiary of
Wollongong Coal Limited ·
Wongawilli Coal Private Limited, a subsidiary of
Oceanic Coal Resources |
|
|
|
|
Associates (As on 31.03.2014) : |
·
Angul Sukinda Railway Limited ·
JB Fab lnfra Private Limited ·
Koleko Resources (Private) Limited ·
Nalwa Steel and Power Limited ·
Panacore Shipping Private Limited , Singapore ·
Prodisyne (Private) Limited ·
Thuthukani Coal (Private) Limited |
|
|
|
|
Joint Ventures (As on 31.03.2014) : |
·
Jindal Synfuels Limited ·
Shresht Mining and Metals Private Limited ·
Urtan North Mining Private Limited |
|
|
|
|
Enterprises over which Key Management Personnel and their relatives exercise
significant influence and with whom transactions have taken place during the
year (As on 31.03.2014) : |
·
Abhinandan Investments Limited. ·
Bir Plantations Private Limited ·
Bonanaza Trading Company Private Limited ·
Colorado Trading Company Limited. ·
Gagan Infraenergy Limited. ·
India Flysafe Aviation Limited ·
IndiaVenture Advisors Private Limited. ·
Jindal Coal Private Limited ·
Minerals Management Services (India) Private
Limited. ·
Jindal Industries Limited ·
Jindal Reality Private Limited ·
Jindal Rex Exploration Private Limited ·
Jindal Saw Limited. ·
Jindal Stainless Limited. ·
Jindal System Private Limited ·
JSW Energy Limited ·
JSW Steel Limited ·
Nalwa Engineering Company Limited ·
Nalwa Investment Limited ·
Opelina Finance and Investment Limited ·
Rohit Towers Buildings Limited ·
Trishakti Real Estate Private Limited ·
Uttam Vidyut Transmission Private Limited ·
YNO Finvest Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 914.900 Million
AS ON 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Re.1/- each |
Rs. 2000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
914885984 |
Equity Shares |
Re.1/- each |
Rs. 914.900 Million |
|
|
|
|
|
a) Reconciliation of the number of shares
outstanding at the beginning and at the end of the reporting period:
|
Equity Shares |
Number
of Shares |
Rs. In Million |
|
Equity Shares outstanding at the beginning of the year |
934833818 |
934.800 |
|
Add: Equity Shares issued under Employees Stock Purchase Scheme |
11750 |
0.000 |
|
Less: Equity Shares extinguished as per buy back scheme (see note f below) |
19959584 |
20.000 |
|
Equity Shares outstanding at the close of the year |
914885984 |
914.900 |
b) Terms/rights attached to equity shares
The Company has only one class of equity shares having par value of Rs.1 per share. Each holder of equity share is entitled to one vote per share. The Company declares 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 per share dividend proposed, subject to approval of shareholders
in annual general meeting, for distribution to equity shareholders is Rs. 1.50
(Previous Year Rs.1.60)
In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive assets of the
Company. The distribution will be in proportion to the number of equity shares
held by the shareholders.
c) Aggregate number of bonus shares issued,
shares issued for consideration other than cash and shares bought back during
the period of five years immediately preceding the reporting date:
During five years immediately preceeding 31st March, 2014, the Company has bought back equity shares as under:
|
During the Year
ended |
No of shares |
|
31st March, 2014 |
19959584 |
|
31st March, 2013 |
- |
|
31st March, 2012 |
- |
|
31st March, 2011 |
- |
|
31st March, 2010 |
- |
|
31st March, 2009 |
- |
|
|
|
|
Total |
19959584 |
During the year ended 31st March, 2010, the Company allotted 775,651,530 equity shares as fully paid bonus shares by capitalizing securities premium reserve.
In addition the Company allotted the following equity shares during the preceding five years under its various Employees Stock Option Schemes / Employee Stock Purchase Scheme
|
During the Year
ended |
Scheme |
No. of Shares |
|
31st March, 2014 |
Employee Stock Purchase Scheme |
11750 |
|
31st March, 2013 |
|
- |
|
31st March, 2012 |
Employee Stock Option Scheme |
564787 |
|
31st March, 2011 |
Employee Stock Option Scheme |
3034949 |
|
31st March, 2010 |
Employee Stock Option Scheme |
929869 |
|
31st March, 2009 |
Employee Stock Option Scheme |
691343 |
|
|
|
|
|
Total |
|
5232698 |
d) Details of shareholders
holding more than 5% shares in the Company
|
Name of
Shareholders |
Number
of Shares |
% holding |
|
Danta Enterprises Private Limited |
62238816 |
6.80% |
|
Gagan Infraenergy Limited |
49709952 |
5.43% |
|
Opelina Finance and Investment Limited |
79838960 |
8.73% |
|
OPJ Trading Private Limited |
187937898 |
20.51% |
|
Virtuous Tradecorp Private Limited |
62238816 |
6.80% |
As per of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
e) Forfeited shares:
Pursuant to the resolution passed at the extra ordinary general meeting dated 4th September, 2009, the Company reclassified the authorized share capital of the Company by cancellation of 10,000,000 Preference Shares of Rs. 100 each and simultaneous creation of 1,000,000,000 fresh Equity Shares of Rs. 1 each and increased the authorized share capital to Rs. 2000.000 Million.
“Consequently, the Company had cancelled 2000000 preference shares of Rs. 100 each (Rs. 5 paid up) which were forfeited earlier. Upon cancellation of such shares, the amount of Rs. 10,000,000 was transferred to General Reserve.
f) Buy back of equity shares:
In accordance with Section 77 of the Companies Act,1956 and buy back regulations of SEBI, the Company during the financial year 2013-14 bought back and extinguished 19,959,584 number of equity shares of Re. 1 each and created a Capital Redemption Reserve of Rs.20.000 Million out of surplus in the Statement of Profit and Loss. The premium on buy back of Rs.4988.000 Million has been utilized from Securities Premium Account by Rs.1229.600 Million and out of surplus in Statement of Profit and Loss by Rs.3758.400 Million.
g) Employees Stock purchase Scheme
In accordance with SEBI(Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines 1999, a) As per resolution passed by the Compensation Committee held on 22.07.2013, during the year on 31.07.2013, 11,750 Equity Shares of Re. 1/- at a premium of Rs. 2015.500 Million were allotted to Mr. Ravi Uppal, Managing Director and Group CEO, as per the provisions of Employee Stock Purchase Scheme 2013 (hereinafter referred to as JSPL ESPS 2013 Scheme), duly approved through postal ballot as on 21.06.2013.
h) As per the resolution passed by
Compensation
Committee dated 29.08.2013, it is proposed to offer 21000 equity shares of Re. 1/- equivalent of Rs. 5.000 Million at an average price of Rs. 2368.300 Million to Mr. Ravi Uppal, Managing Director and Group CEO as per JSPL ESPS 2013 Scheme. This offer will be for one year from the date of this offer letter as per his entitlement of Employee Stock Option worth Rs. 50 Lacs per annum.
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 |
914.900 |
914.900 |
934.800 |
|
(b) Reserves & Surplus |
124197.200 |
129728.400 |
122545.900 |
|
(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) |
125112.100 |
130643.300 |
123480.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
185074.200 |
135207.800 |
118609.200 |
|
(b) Deferred tax liabilities (Net) |
16585.900 |
13454.600 |
12149.600 |
|
(c) Other long term
liabilities |
2445.200 |
6951.100 |
5605.800 |
|
(d) long-term
provisions |
318.900 |
195.900 |
209.400 |
|
Total Non-current
Liabilities (3) |
204424.200 |
155809.400 |
136574.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
76076.300 |
91461.300 |
76400.200 |
|
(b) Trade
payables |
14430.200 |
16373.400 |
6282.000 |
|
(c) Other
current liabilities |
40730.700 |
34549.500 |
25843.900 |
|
(d) Short-term
provisions |
928.800 |
32659.700 |
29518.500 |
|
Total Current
Liabilities (4) |
132166.000 |
175043.900 |
138044.600 |
|
|
|
|
|
|
TOTAL |
461702.300 |
461496.600 |
398099.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
307782.000 |
181923.200 |
141421.800 |
|
(ii)
Intangible Assets |
0.000 |
670.100 |
140.100 |
|
(iii)
Capital work-in-progress |
0.000 |
116402.500 |
114661.200 |
|
(iv)
Intangible assets under development |
0.000 |
229.200 |
178.200 |
|
(b) Non-current Investments |
14869.600 |
13505.200 |
13307.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23159.100 |
16157.100 |
12254.600 |
|
(e) Other
Non-current assets |
10.800 |
6.300 |
5.500 |
|
Total Non-Current
Assets |
345821.500 |
328893.600 |
281968.600 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
10000.000 |
0.000 |
0.000 |
|
(b) Inventories |
37200.300 |
39362.500 |
35985.200 |
|
(c) Trade
receivables |
13212.700 |
14609.600 |
14261.300 |
|
(d) Cash
and cash equivalents |
2889.700 |
7620.000 |
367.700 |
|
(e)
Short-term loans and advances |
45040.400 |
65436.500 |
59435.400 |
|
(f) Other
current assets |
7537.700 |
5574.400 |
6081.100 |
|
Total
Current Assets |
115880.800 |
132,603.000 |
116,130.700 |
|
|
|
|
|
|
TOTAL |
461702.300 |
461,496.600 |
398,099.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
133903.500 |
145440.200 |
149547.000 |
|
|
|
Other Income |
830.700 |
1468.500 |
1592.800 |
|
|
|
TOTAL |
134734.200 |
146908.700 |
151139.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
43715.600 |
42657.100 |
49433.000 |
|
|
|
Purchases of Stock-in-Trade |
2846.900 |
2733.100 |
2865.800 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1537.200) |
3860.300 |
(1482.000) |
|
|
|
Employees benefits expense |
6505.200 |
5523.200 |
4478.900 |
|
|
|
Stores and Spares Consumed |
15831.100 |
-- |
-- |
|
|
|
Power and Fuel |
12638.900 |
-- |
-- |
|
|
|
Foreign Exchange Fluctuation (Gain)/Loss |
(2133.700) |
-- |
-- |
|
|
|
Cost Captive Sales |
(7090.200) |
-- |
-- |
|
|
|
Other expenses |
23699.800 |
53077.900 |
54866.800 |
|
|
|
Exceptional Item |
8077.700 |
0.000 |
0.000 |
|
|
|
TOTAL |
102554.100 |
107851.600 |
110162.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
32180.100 |
39057.100 |
40977.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20718.600 |
10836.300 |
8207.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11461.500 |
28220.800 |
32769.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17855.600 |
12214.400 |
10484.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(6394.100) |
16006.400 |
22285.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(3287.300) |
3086.900 |
6359.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
(3106.800) |
12919.500 |
15925.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
98847.100 |
87470.500 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Debenture
Redemption Reserve |
|
1460.000 |
1270.000 |
|
|
|
Transfer to General Reserve |
|
1291.900 |
1750.000 |
|
|
|
Transfer to Capital Redemption Reserve |
|
20.000 |
0.000 |
|
|
|
Utilized for premium on buy-back of equity shares |
|
3758.400 |
0.000 |
|
|
|
Proposed dividend on equity shares |
|
1372.300 |
1495.700 |
|
|
|
Corporate tax on proposed dividend |
NA |
12.200 |
33.200 |
|
|
BALANCE CARRIED
TO THE B/S |
|
103851.800 |
98847.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export
Sales |
|
28320.200 |
15985.300 |
|
|
|
Others |
|
0.000 |
226.000 |
|
|
TOTAL EARNINGS |
|
28320.200 |
16211.300 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material & Fuel |
|
19763.800 |
25304.500 |
|
|
|
Components & Spare Parts |
|
2774.300 |
2487.400 |
|
|
|
Capital Goods & Others |
|
13459.700 |
6737.800 |
|
|
TOTAL IMPORTS |
|
35997.800 |
34529.700 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.40) |
13.89 |
17.04 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
21383.600 |
9693.400 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(2.32) |
8.88 |
10.65 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
24.03 |
26.85 |
27.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.43) |
4.83 |
8.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
0.12 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.09 |
1.90 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.76 |
0.84 |
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 |
934.800 |
914.900 |
914.900 |
|
Reserves & Surplus |
122545.900 |
129728.400 |
124197.200 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
123480.700 |
130643.300 |
125112.100 |
|
|
|
|
|
|
long-term borrowings |
118609.200 |
135207.800 |
185074.200 |
|
Short term borrowings |
76400.200 |
91461.300 |
76076.300 |
|
Current Maturities of
Long Term Debt |
21383.600 |
9693.400 |
0.000 |
|
Total borrowings |
216393.000 |
236362.500 |
261150.500 |
|
Debt/Equity ratio |
1.752 |
1.809 |
2.087 |
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 |
149547.000 |
145440.200 |
133903.500 |
|
|
|
(2.746) |
(7.932) |
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 |
149547.000 |
145440.200 |
133903.500 |
|
Profit/ Loss |
15925.500 |
12919.500 |
(3106.800) |
|
|
10.65% |
8.88% |
(2.32%) |
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OVERVIEW (As on 31.03.2014)
The Raigarh plant, with up to 3 MTPA steel production capacity is, the world’s largest coal-based sponge iron manufacturing facility; with a capacity to produce 1.37 MTPA Direct Reduced Iron (DRI). It is the leader in manufacturing coal-based sponge iron in India and is the only domestic sponge iron manufacturer with captive raw material resources and power generation capacity.
OPERATIONAL REVIEW (As on 31.03.2014)
The Company operates the largest coal-based sponge iron plant in the world. It has an installed capacity of 3 MTPA of crude steel and is operating a 0.6 MTPA medium and light structural mill, a 1.0 MTPA plate mill and a 0.75 MTPA rail and universal Beam mill at Raigarh in Chhattigarh. It is also operating a 1.5 MTPA steel melting shop and a 1.2 MTPA plate mill to produce plates up to 5.00 metres in width at Angul in Odisha. The Company also has a 0.6 MTPA wire rod mill and a 1.0 MTPA capacity bar mill at Patratu in Jharkhand. It has 1,685 MW of power generation capacity i.e. 851 MW in Raigarh (Chhattisgarh), 810 MW in Angul (Odisha) and 24 MW wind power in Satara (Maharashtra). The Company, through its subsidiary, operates a 1.5-MTPA gas-based Hot Briquetted Iron (HBI) plant and has completed a 2 MTPA Steel Melting Shop in Oman (Middle East).
The Company produces the world’s longest (121-metre) rails and it is the first in the country to manufacture large-size parallel flange beams. The Company also has the distinction of producing high strength angle iron for transmission towers and high strength earthquake-resistant construction TMT rebars. The Company has recently launched a new retail brand, “Jindal Panther™” in India. The first product launched under the brand is Jindal Panther™ TMT Rebars.
LITIGATION
DETAILS
|
IN
THE HIGH COURT OF DELHI AT NEW DELHI O.M.P.(I)
182/2015 SARA INTERNATIONAL PRIVATE
LIMITED..... PETITIONER THROUGH: MR. VIRENDRA GANDA, SENIOR ADVOCATE WITH MR.
GYANENDRA KUMAR, MR. VIPUL GANDA, MR. ABHIJIT MITTAL AND MS. SHREYA,
ADVOCATES. VERSUS JINDAL STEEL AND POWER LIMTED AND
ORS. ..... RESPONDENTS THROUGH: MR. RAJIV NAYAR, SENIOR ADVOCATE WITH MR.
RAJAT JARIWAL AND MS. ANISHA SOMAL, ADVOCATES FOR RESPONDENT NO.1. MR. ARUN
KATHPALIA AND MR. RAJNISH SINHA, ADVOCATES FOR RESPONDENTS 2 AND 3. CORAM: JUSTICE S.
MURALIDHAR ORDER 23.04.2015 IA NO. 8294/2015 (FOR
EXEMPTION) 1.
EXEMPTION ALLOWED SUBJECT TO ALL JUST EXCEPTIONS. 2.
THE APPLICATION IS DISPOSED OF. O.M.P.(I)
182/2015 3. NOTICE. MR. RAJAT JARIWAL, LEARNED
COUNSEL FOR RESPONDENT NO.1 AND MR. ARUN KATHPALIA, LEARNED COUNSEL FOR
RESPONDENT NOS. 2 AND 3 ACCEPT NOTICE. REPLIES, IF ANY, BE FILED WITHIN FOUR
WEEKS. REJOINDER THERETO, IF ANY, BE FILED BEFORE THE NEXT DATE. 4.
LIST ON 14TH JULY 2015. APRIL
23, 2015/DN
S. MURALIDHAR, J |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10565247 |
31/03/2015 |
3,250,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202 , MAKER CHAMBER, 'E'
CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C51580751 |
|
2 |
10565016 |
31/03/2015 * |
40,000,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202 , MAKER CHAMBER, 'E'
CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C51572303 |
|
3 |
10547420 |
06/02/2015 |
5,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C42667832 |
|
4 |
10544612 |
31/12/2014 |
6,000,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, JAWAHAR
VYAPAR BHAWAN, 11TH AND 12TH FLOOR, 1, TOLSTOY MARG, NEW DELHI, DELHI -
110001, INDIA |
C41229204 |
|
5 |
10541962 |
31/12/2014 |
10,000,000,000.00 |
YES BANK LIMITED |
48, NYAYA MARG,
CHANAKYAPURI, NEW DELHI, DELHI |
C39914171 |
|
6 |
10540233 |
29/12/2014 |
5,000,000,000.00 |
AXIS BANK LIMITED |
13TH FLOOR, STATESMAN HOUSE,
148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
C38982104 |
|
7 |
10543093 |
29/12/2014 |
5,000,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, VATIKA
ATRIUM, A-WING, 2ND FLOOR, |
C40476665 |
|
8 |
10501763 |
06/05/2014 |
15,000,000,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA CAG
BRANCH, 12TH FLOOR, JAWAH |
C06004147 |
|
9 |
10487119 |
27/04/2015 * |
10,000,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C53736716 |
|
10 |
10487226 |
29/03/2014 * |
15,000,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK LIMITED, ALKAPURI,
BARODA, GUJARAT - 390015, INDIA |
C03329216 |
* Date of charge modification
UNSECURED LOANS:
|
PARTICULARS |
31.03.2015 Rs.
In Million |
31.03.2014 Rs.
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans |
|
|
|
Debenture |
|
3000.000 |
|
Loan from Banks |
|
|
|
Other Loans |
NA |
8758.900 |
|
Others Loans and
Advances |
|
|
|
External Commercial Borrowings |
|
10330.900 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Banks |
|
|
|
Short Term Loans |
|
30513.000 |
|
Other Loans |
|
7442.600 |
|
Commercial Papers |
|
15000.000 |
|
Loans and advances
from related parties |
|
|
|
Inter Corporate Deposits (from subsidiary) |
|
24550.600 |
|
Fixed Deposits from Public |
|
0.000 |
|
|
|
|
|
Total |
NA |
99596.000 |
CONTIENT
LIABILITIES:
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
Guarantees,
Undertakings and Letter of Credit |
|
|
|
a) Guarantees issued by the Company’s Bankers on behalf of the Company |
|
8229.000 |
|
b)Letter of credit opened by banks |
|
4741.300 |
|
c) Corporate guarantees/undertakings issued on behalf of third parties. |
|
68274.800 |
|
Statutory Demands |
|
|
|
d) Disputed Excise Duty and Other demands |
|
14320.000 |
|
e) Income Tax demands where the cases are pending at various stages of appeal with the authorities |
NA |
5558.400 |
|
f) Bonds executed for machinery imports under EPCG Scheme |
|
24702.200 |
|
Others |
|
|
|
g) Future liability on account of lease rent for unexpired period |
|
100.500 |
|
h) Claims against the company, not acknowledge as debt |
|
781.300 |
|
i) Uncalled liability towards partly paid up shares |
|
601.500 |
|
j) The company has provided a shortfall undertaking to fund the debt service reserve account (DSRA) of a subsidiary. As the subsidiary continues to maintain succeeding 3 months interest and principle in DSRA, hence the company does not have any present liability to fund the said account |
||
FIXED ASSETS:
Tangible Assets
· Land
· Live Stock
· Building
· Plant and Equipment
· Electrical Fittings
· Computer
· Vehicles
· Air Craft (GE Lease)
· Air Craft (Owned)
· Office equipment
·
Furniture and Fixture
Intangible Assets
· Computer software
· Copyrights, and patents and other intellectual property rights, services and operating rights
· Design and Drawings
· Licenses and franchise
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 records 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. 63.89 |
|
|
1 |
Rs. 99.71 |
|
Euro |
1 |
Rs. 70.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
0 |
|
--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 |
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 |
|
62 |
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.