MIRA INFORM REPORT

 

 

Report No. :

325985

Report Date :

04.06.2015

 

IDENTIFICATION DETAILS

 

Name :

ESSAR STEEL INDIA LIMITED (w.e.f.18.01.2012)

 

 

Formerly Known As :

ESSAR STEEL LIMITED

 

 

Registered Office :

27 KM, Surat Hazira Road, Hazira, Surat – 394270, Gujarat

Tel. No.:

91-261-2872400

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.06.1976

 

 

Com. Reg. No.:

04-013787

 

 

Capital Investment / Paid-up Capital :

Rs.28692.200 Million

 

 

CIN No.:

[Company Identification No.]

U27100GJ1976FLC013787

 

 

IEC No.:

Not Available

 

 

TIN No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

SRTE00025E

 

 

PAN No.:

[Permanent Account No.]

AAACE1741P

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing and Selling of Steel Products.

 

 

No. of Employees :

Information denied by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow and Delayed

 

 

Litigation :

Exist

 

 

Comments :

Subject is a part of “Essar Group”.

 

It is an established company having moderate track.

 

The company possesses a weak financial profile marked by consecutive losses which has further deteriorated the position of reserves during 2014.

 

Rating further constrained by ongoing delays in servicing of debt obligations by company and liquidity pressures faced due to extraneous challenges impacting in running of steel plant.  

 

Moreover, it is found that the subject has defaulted hefty amounts with Unit Trust of India Limited.

 

Business is active. Payment terms are reported as slow and delayed.

 

In view of poor financial profile along with defaults in servicing its debt obligation, the subject can be considered for business dealings on safe and secured 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

Long Term Bank Facilities = D

Rating Explanation

Lowest credit quality and very low prospects of recovery.

Date

19.05.2015

 

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities = D

Rating Explanation

Instruments with this rating are in default or expected to be default on maturity.

Date

19.05.2015

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

SUIT-FILED ACCOUNTS OF RS.10.000 MILLION AND ABOVE AS ON 04-JUN-2015
SEARCH DETAILS 
BORROWER CONTAINING - ESSAR STEEL 

 

Bank

Branch

 Quarter

 D&B D-U-N-S® Number

Borrower Name

Directors Name

OutStanding Amount

(Rs. in Million)

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

31-03-05

 

ESSAR STEEL LIMITED

P S RUIA, JAGDEESH M MEHTA, RAVI RUIA, SHASHI RUIA

0.230

UNIT TRUST OF INDIA LIMITED

N.A.

30-09-02

 

ESSAR STEEL LIMITED

J MEHRA, JITENDER BALKRISHNAN, PRASHANT S RUIA, R N RUIA, S N RUIA, S V VENKATESAN, SANJEEV SHRIYA, VIKRAM AMIN

0.527

UNIT TRUST OF INDIA LIMITED

N.A.

31-12-02

 

ESSAR STEEL LIMITED

J MEHRA, JITENDER BALKRISHNAN, PRASHANT S RUIA, R N RUIA, S N RUIA, S V VENKATESAN, SANJEEV SHRIYA, VIKRAM AMIN

0.527

 

 

SUIT-FILED ACCOUNTS (WILLFUL DEFAULTERS) OF RS.2.5 MILLION AND ABOVE AS ON 04-JUN-2015
SEARCH DETAILS 
BORROWER CONTAINING - ESSAR STEEL 

 

Bank

Branch

 Quarter

 D&B D-U-N-S® Number

Borrower Name

Directors Name

OutStanding Amount

(Rs. in Million)

UNIT TRUST OF INDIA LIMITED

MAIN BRANCH

31-03-04

 

ESSAR STEEL LIMITED

G.A.NAYAK, PRASHANT RUIA, JITENDER MEHRA, S.V.VENKATESAN, SHASHI RUIA, G.GOSWAMI, RAVI RUIA, VIKRAM AMIN, J.BALAKRISHNAN, V.G.RAGHAVAN, SANJEEV SHRIYA

0.587

UNIT TRUST OF INDIA LIMITED

MAIN BRANCH

30-06-04

 

ESSAR STEEL LIMITED

V.G.RAGHAVAN, JITENDER MEHRA, S.V.VENKATESAN, SANJEEV SHRIYA, SHASHI RUIA, G.GOSWAMI, RAVI RUIA, VIKRAM AMIN, J.BALAKRISHNAN, PRASHANT RUIA, G.A.NAYAK

0.614

UNIT TRUST OF INDIA LIMITED

MAIN BRANCH

30-09-04

 

ESSAR STEEL LIMITED

SHASHI RUIA, SANJEEV SHRIYA, G.GOSWAMI, VIKRAM AMIN, PRASHANT RUIA, G.A.NAYAK, J.BALAKRISHNAN, S.V.VENKATESAN, RAVI RUIA, JITENDER MEHRA, V.G.RAGHAVAN

0.742

UNIT TRUST OF INDIA LIMITED

MAIN OFFICE

30-09-03

 

ESSAR STEEL LIMITED

G.A.NAYAK, G.GOSWAMI, J.BALAKRISHNAN, JITENDER MEHRA, PRASHANT RUIA, RAVI RUIA, S.V.VENKATESAN, SANJEEV SHRIYA, SHASHI RUIA, V.G.RAGHAVAN, VIKRAM AMIN

0.577

UNIT TRUST OF INDIA LIMITED

MAIN OFFICE

31-12-03

 

ESSAR STEEL LIMITED

G.A.NAYAK, G.GOSWAMI, J.BALAKRISHNAN, JITENDER MEHRA, PRASHANT RUIA, RAVI RUIA, S.V.VENKATESAN, SANJEEV SHRIYA, SHASHI RUIA, V.G.RAGHAVAN, VIKRAM AMIN

0.577

 

 

EPF (Employee Provident Fund) DEFAILTERS’ 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

 

Management Non Co-Operative (Tel No.: 91-261-2872400 / 91-22-66601100)

 

 

LOCATIONS

 

Registered Office/ Plant 1  :

27Km., Surat Hazira Road, Hazira, Surat – 394270, Gujarat, India

Tel. No.:

91-261-2872400/ 6682400

Fax No.:

91-261-2872400/ 6682796/ 6685731

E-Mail :

rakesh.darji@essar.com

dilip.deokar@essar.com

promod.s@essar.com

steel@essar.com

webmaster@essar.com

Website :

http://www.essar.com

 

 

Corporate Office :

Essar House, 11, Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400034, Maharashtra, India

Tel. No.:

91-22-66601100 / 24950606

Fax No.:

91-22-24928896

 

 

Marketing and Sales Office :

6th Floor, Tower-2, Equinox Business Park (Peninsula Techno Park) Off Bandra Kurla Complex, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra, India

Tel. No.:

91-22-67335000

Fax No.:

91-22-67082189

E-Mail :

steel@essar.com

 

 

Plant 2 :

Vishakhapatnam

 

Scindia Road, Near Flyover, Visakhapatnam – 530004, Andhra Pradesh, India

Tel. No.:

91-891-2523213

Fax No.:

91-891-2559383/ 2556907

 

 

Processing and Distribution Facility Network :

Gat No - 437 and 442, Golechiwadi, Ambi-Nigade Road, MIDC-Talegaon, Pune - 410507, Maharashtra, India 

Tel. No.:

91-211-4661401

 

 

Regional Head :

Plot No A - 6,Sipcot, Oragadam, Sriperumbudur (TK) Kanchipuram, Chennai – 602112, Tamilnadu, India

 

 

Overseas Offices [Plants] :

Located at

 

  • Canada
  • Indonesia
  • United Kingdom
  • United Arab Emirates
  • Germany
  • China

 

 

DIRECTORS

 

Name :

Mr. Jatinder Dinanath Mehra

Designation :

Director

Address :

C-1/36, Safdarjung Dev Area, New Delhi - 110016, India

Date of Birth/Age :

03.03.1939

Date of Appointment :

25.06.1997

DIN No.:

00042789

 

 

Name :

Mr. Venkatraman Govind Raghavan

Designation :

Director

Address :

Flat No 171/172, 17th Floor, Kalpataru Residency, Sion Circle, Sion (East), Mumbai - 400022, Maharashtra, India

Date of Birth/Age :

16.07.1945

Date of Appointment :

29.10.2003

DIN No.:

00008683

 

 

Name :

Mr. Dilip Oommen

Designation :

Managing Director

Address :

D-3/4 Nand Niketan Essar Township, Hazira, Surat - 394270, Gujarat, India

Date of Birth/Age :

28.03.1958

Qualification :

Metallurgical engineering from IIT, Kharagpur

Date of Appointment :

27.11.2014

DIN No. :

02285794

 

 

Name :

Mr. Rana Khagendranath Som

Designation :

Additional director

Address :

B-256, Asian Games Village, Ganapati Andalkar Block, New Delhi - 110049, India

Date of Birth/Age :

01.01.1952

Date of Appointment :

03.09.2012

DIN No. :

00352904

 

 

Name :

Mr. Arvind Pande

Designation :

Director

Address :

E-148(FF), East of Kailash, New Delhi - 110065, India

Date of Appointment :

29.05.2013

DIN No. :

00007067

 

 

Name :

Mr. Subramaniam Santhanakrishnan

Designation :

Director

Address :

Flat G5, Block 2,Prime Terrace, 150,L.B Road,Tiruvanmiyur, Chennai - 600041, Tamil Nadu, India

Date of Appointment :

12.03.2013

DIN No. :

00005069

 

 

Name :

Mr. Firdose Vandrevala

Designation :

Director

Address :

Lasonrisa 1201, Lakhamsi Napoo Rd,, Dadar East, Mumbai - 400014, Maharashtra, India

Date of Appointment :

16.11.2013

DIN No. :

00956609

 

 

Name :

Mr. Prashant Ruia

Designation :

Director

Address :

Lereve Tower 4300 Dubai Marina, Po Box 293778, Dubai, Na, United Arab Emirates

Date of Birth/Age :

04.06.1969

Date of Appointment :

28.09.2013

DIN No. :

01187548

 

 

Name :

Mr. Mahadev Ramnath Iyer

Designation :

Director

Address :

109/110, Indira Apts, Govandi Stn Rd, Deonar, Mumbai - 400088, Maharashtra, India

Date of Birth/Age :

01.07.1958

Date of Appointment :

16.11.2013

DIN No. :

01871295

 

 

Name :

Mr. Hiranmoy Biswas

Designation :

Director

Address :

E-42, Maker Kundan Gardens, Juhu Road, Santacruz West, Mumbai - 400049, Maharashtra, India

Date of Appointment :

26.08.2014

DIN No. :

02798396

 

Name :

Mr. Arvind Pande

Designation :

Director

Address :

E-148(FF), East Of Kailash, New Delhi - 110065, India

Date of Appointment :

29.05.2013

DIN No. :

00007067

 

Name :

Mr. Jatinder Dinanath Mehra

Designation :

Director

Address :

C-1/36, Safdarjung Dev Area, New Delhi - 110016, India

Date of Appointment :

25.06.1997

DIN No. :

00042789

 

Name :

Mrs. Gayathri Sukumar

Designation :

Director

Address :

1/205, Viman Darshan, Sahar Road, Andheri East, Mumbai - 400069, Maharashtra, India

Date of Appointment :

30.03.2015

DIN No. :

07115908

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh M Darji

Designation :

Secretary

Address :

C/602, Royal Complex, Jay Bhavani Road, Kasambaug,, Malad (East), Mumbai, 400097, Maharashtra, India

Date of Birth/Age :

25.10.1973

Date of Appointment :

09.09.2011

PAN No.:

AFRPD7254H

 

 

MAJOR SHAREHOLDERS

 

As on 04.12.2013

 

Names of Allottees

 

No. of Shares

Imperial Consultants and Securites Private Limited, India

21460177

Total

21460177

 

As on 22.12.2013

 

Names of Allottees

 

No. of Shares

Essar Steel Asia Holdings Limited, Mauritius

3743392

Total

3743392

 

As on 08.06.2013

 

Names of Allottees

 

No. of Shares

Essar Steel Limited, Mauritius

5956519

Total

5956519

 

As on 08.06.2013

 

Names of Allottees

 

No. of Shares

Tirunelveli Wind Farms Limited

44247787

Total

44247787

 

Equity Share Break up (Percentage of Total Equity)

 

As on 20.10.2012

 

Category

Percentage

Public financial companies

0.03

Foreign holdings [Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others]

72.97

Bodies corporate

17.13

Other top fifty shareholders

7.49

Others

2.38

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Selling of Steel Products.

 

 

Products :

Product Description

Item Code No. (ITC Code)

Iron Ores and Concent Rates, Other than Roasted Iron Pyrites

2601

Ferrous Products Obtained by Direct Reduction of Iron Ore and Other Spongy Ferrous Products in Lumps, Pellets or Similar Forms

7203

Flat Rolled Products of Iron or Non-Alloy Steel of a Width of 600 MM or More Hot Rolled, Not Clad, Plated or Coated

7208

Flat Rolled Products of Iron or Non-Alloy Steel of a Width of 600 MM Clad Plated or Coated with Zinc

7210

Flat Rolled Products of Iron or Non-Alloy Steel of a Width of Less than 600 MM Hot Rolled, Not Clad, Plated or Coated

7211

Pipes and Hollow Profile Seamless or Iron or Steel for Used in Oil and Gas Pipeline

7304

 

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

 

Selling :

Not Divulged 

 

 

Purchasing :

Not Divulged 

 

PRODUCTION STATUS (As on 31.03.2013)

 

Particulars

Unit

Production

 

Iron Ore Pellet**

MT

5,662,187

Hot Briquette Iron / Direct Reduced Iron

MT

2,333,337

Hot Metal

MT

2,665,264

Hot Rolled Coils/Cold Rolled Coils/Plates

MT

3,693,136

Plates

MT

520,811

Pipes

MT

159,075

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Experience :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Remark :

Not Divulged 

 

 

Customers :

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Experience :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Remark :

Not Divulged 

 

 

No. of Employees :

Information denied by management

 

 

Bankers :

·         Corporation Bank, Industrial Finance Branch,  104 Bharat House, Mumbai Samachar Marg Fort, Mumbai - 400023, Maharashtra, India

·         Allahabad Bank

·         Axis Bank Limited

·         Bank of Baroda

·         Bank of India

·         Canara Bank

·         Central Bank of India

·         Export Import Bank of India

·         HDFC Bank Limited

·         ICICI Bank Limited

·         IDBI Bank Limited

·         Indian Overseas Bank

·         Punjab National Bank

·         State Bank of Bikaner and Jaipur

·         State Bank of Hyderabad

·         State Bank of India

·         State Bank of Mysore

·         State Bank of Patiala

·         Syndicate Bank

·         The Federal Bank Limited

·         The Jammu And Kashmir Bank Limited

·         UCO Bank

·         Union Bank of India

·         Yes Bank Limited

 

 

Facilities :

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

LONG TERM BORROWINGS

 

 

Non-Convertible Debentures

3200.000

5250.000

Term Loans

 

 

--From Banks

246042.100

199543.100

--From Others

15735.900

13983.900

Buyers Credit for Capital Expenditure

4747.400

6499.200

 

 

 

SHORT TERM BORROWINGS

 

 

Short Term Loans

 

 

--From Banks

0.000

7000.000

Working Capital Loans – From Banks

3776.900

9674.200

Buyers Credit for Operational Expenditure

7117.700

14912.000

 

 

 

Total

277420.000

251612.400

 

 

 

Auditors :

 

Name :

M M Chaturvedi and Company

Chartered Accountants

PAN No.:

AABFD7919A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Companies :

·         Essar Steel Asia Holdings Limited (FKA Essar Resources Mauritius Limited) Immediate Holding Company- (ESAHL) (w.e.f. 29.06.2012)

·         Essar Steel Mauritius Limited - Holding Company of Essar Steel Asia Holdings Limited - (ESML)

·         Essar Steel Limited - Mauritius - Immediate Holding Company (ESTLM) (upto 28.06.2012)

·         Essar Global Fund Limited (FKA Essar Global Limited)

 

 

Subsidiaries :

·         Essar Steel Middle East FZE (ESMEF)

·         Essar Steel Trading FZE (ESTF)

·         Paradeep Steel Company Limited. (PSCL)

·         Essar Steel Offshore Limited. (ESOSL)

·         Trinity Coal Marketing LLC (EMA) *

·         Essar Minerals Limited (FKA Essar Mining Limited) *

·         Essar Mineral Cooperatief U.A. *

·         Essar Minerals Canada Limited *

·         New Trinity Holding LLC (NTHL)*

·         New Resources Inc. (NRI)*

·         Essar Minerals INC * 26 Trinity RMG Holding LLC *

·         Trinity Parent Corporation * 27 RMG INC *

·         Trinity Coal Corporation * 28 Odisha Slurry Pipeline Infrastructure Limited. (OSPIL)*

·         Trinity Coal Partners LLC * 29 Hazira Coke Limited (HCL)*

·         New Trinity Coal Inc. (NTCI)*

·         Bear Fork Resources LLC *

·         Deep Water Resources LLC *

·         Levisa Fork Resources LLC *

·         North Springs Resources LLC *

·         Little Elk Mining Company LLC *

·         Banner Coal Terminal LLC *

·         Hughes Creek terminal LLC *

·         Frasure Creek Mining LLC *

·         Falcon Resources LLC *

·         Prater Branch Resources LLC *

 

* These companies are subsidiaries of a wholly owned subsidiary of the Company

 

 

Fellow Subsidiaries :

·         Aegis Limited (AEGIS)

·         Essar Power (Jharkhand) Limited (EPJL)

·         Essar Africa Holdings Limited (EAHL)

·         Essar Bulk Terminal Paradeep Limited (EBTPL)

·         Essar Constructions Overseas Limited (ECOL)

·         Essar Electric Power Development Corporation Limited. (EEPDCL)

·         Essar Logistics Limited (ELL)

·         Essar Mineral Resources Limited (EMRL)

·         Essar Offshore Subsea Limited (EOSL)

·         Essar Oil Limited (EOL)

·         Essar Oilfield Services Private Limited (EOSPL)

·         Essar Power (M P) Limited (EPMPL)

·         Essar Power Gujarat Limited (EPGL)

·         Essar Projects (India) Limited (EPIL)

·         Essar Shipping Limited (ESL)

·         Essar Port Limited (EPL)

·         Essar Steel Algoma Inc. (ESA-INC)

·         Essar Steel Limited, Mauritius (ESTLM)

·         Essar Pellets Marketing Limited (EPML)

·         Essar Steel Processing & Distribution UK Limited. (ESPD UK) #

·         PT Essar Indonesia (PTEI)

·         Vadinar Oil Terminals Limited (VOTL)

·         Vadinar Power Company Limited (VPOCL)

·         Agc Networks Limited. (AGCNL)

·         Equinox Business Parks Private Limited (EBPPL)

·         Essar Projects Singapore Pte Limited (EPS PTE)

·         Essar Paradeep Terminals Limited (EPTL)

·         Navabharat Power Private Limited (NPPL)

·         Tirunelveli Wind Farms Limited (TWFL)

·         Essar Global Services FZE (EGSF)

·         Essar Energy Plc (EEP)

·         Essar Telecom Kenya Limited (ETKL)

·         Peak Trading Overseas Limited (PTOL)

·         Vadinar Ports & Terminals Limited (VPTL)

·         Essar Steel Logistics Limited (ESLL)

·         Essar Power Transmission Co Limited (EPTCL)

 

# This Company is ceased to be fellow subsidiary w.e.f. 28th March, 2014

 

 

Associates :

·         Bhander Power Limited (BPOL) 5 Essar Power Hazira Limited (EPHL)

·         Essar Bulk Terminal Limited (EBTL) 6 Essar Power Limited (EPOL)

·         Essar Power (Orissa) Limited (EPOOL) 7 Essar Steel Processing FZCO (ESP-FZCO)

·         Essar Steel Chhattisgarh Limited (ESCL)

 

 

CAPITAL STRUCTURE

 

After 31.03.2014

 

Authorised Capital : Rs.72750.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs.29307.937 Million

 

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7175000000

Equity Shares

Rs.10/- each

Rs.71750.000 Million

100000000

10% Cumulative Redeemable Preference Shares

Rs.10/- each

Rs.1000.000 Million

 

Total

 

Rs.72750.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2824951352

Equity Shares

Rs.10/- each

Rs.28249.500 Million

43598951

10% Cumulative Redeemable Preference Shares

Rs.10/- each

Rs.436.000 Million

4520703

Add: Equity Shares Forfeited

 

Rs.6.700 Million

 

Total

 

Rs.28692.200 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

28692.200

28418.000

26711.100

(b) Reserves & Surplus

56147.800

42617.100

63823.500

(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)

84840.000

71035.100

90534.600

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

284967.300

228179.200

166645.400

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

50667.100

1622.900

1909.900

(d) long-term provisions

6035.600

6559.400

4581.400

Total Non-current Liabilities (3)

341670.000

236361.500

173136.700

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

13164.600

42871.000

76614.000

(b) Trade payables

71362.700

76458.300

43870.500

(c) Other current liabilities

39032.300

50425.000

39178.200

(d) Short-term provisions

4012.000

731.800

4258.700

Total Current Liabilities (4)

127571.600

170486.100

163921.400

 

 

 

 

TOTAL

554081.600

477882.700

427592.700

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

141257.800

287660.800

205879.400

(ii) Intangible Assets

239.100

190.500

222.100

(iii) Capital work-in-progress

272947.800

60047.700

112951.700

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

11544.300

10333.100

5398.700

(c) Deferred tax assets (net)

25590.400

17526.600

3237.700

(d)  Long-term Loan and Advances

7182.300

6851.900

8777.200

(e) Other Non-current assets

11108.200

10333.100

9589.700

Total Non-Current Assets

469869.900

392943.700

346056.500

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

32630.400

38475.200

40446.400

(c) Trade receivables

11569.800

6812.700

5896.600

(d) Cash and cash equivalents

7294.900

6231.100

6509.600

(e) Short-term loans and advances

30707.500

28409.200

22502.900

(f) Other current assets

2009.100

5010.800

6180.700

Total Current Assets

84211.700

84939.000

81536.200

 

 

 

 

TOTAL

554081.600

477882.700

427592.700

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

133268.800

150384.500

162738.700

 

 

Other Income

10216.700

3011.600

5367.900

 

 

TOTAL                                              (A)

143485.500

153396.100

168106.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

76621.600

89941.100

89340.700

 

 

Purchases of Stock-in-Trade

6680.500

2055.900

1670.300

 

 

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

2662.400

(270.700)

9692.700

 

 

Employees benefits expense

3556.900

3117.400

3899.800

 

 

Other expenses

40685.400

46918.300

47851.300

 

 

Prior Period Items

(16014.700)

0.000

0.000

 

 

Exceptional Items

0.000

13465.500

0.000

 

 

TOTAL                                              (B)

114192.100

155227.500

152454.800

 

 

 

 

 

 

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

29293.400

(1831.400)

15651.800

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

41767.000

24809.800

18629.900

 

 

 

 

 

 

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

(12473.600)

(26641.200)

(2978.100)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

10673.800

15622.100

9863.700

 

 

 

 

 

 

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

(23147.400)

(42263.300)

(12841.800)

 

 

 

 

 

Less

TAX                                                                  (H)

(7176.000)

(14413.900)

(326.200)

 

 

 

 

 

 

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

(15971.400)

(27849.400)

(12515.600)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of Exports

39391.900

36927.900

41557.500

 

 

Others

0.000

2472.900

1872.600

 

TOTAL EARNINGS

39391.900

39400.800

43430.100

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

18231.200

33809.200

32993.200

 

 

Production Consumables, Stores and Spares and Fuel

4515.100

6540.200

9387.800

 

 

Capital Goods

251.600

3315.500

3762.700

 

 

Traded Goods

0.000

0.000

17.300

 

TOTAL IMPORTS

22997.900

43664.900

46161.100

 

 

 

 

 

 

Earnings Per Share (Rs.)

(5.70)

(10.59)

(4.84)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

16062.800

25443.000

24206.400

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

(11.98)

(18.52)

(7.69)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

21.98

(1.22)

9.62

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(9.49)

(10.84)

(4.20)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.27)

(0.59)

(0.14)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.70

3.82

2.69

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.66

0.50

0.50

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

26711.100

28418.000

28692.200

Reserves & Surplus

63823.500

42617.100

56147.800

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

90534.600

71035.100

84840.000

 

 

 

 

Long Term borrowings

166645.400

228179.200

284967.300

Short Term borrowings

76614.000

42871.000

13164.600

Current Maturities of Long term debt

24206.400

25443.000

16062.800

Total borrowings

267465.800

296493.200

314194.700

Debt/Equity ratio

2.954

4.174

3.703

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

1,62,738.700

1,50,384.500

1,33,268.800

 

 

(7.591)

(11.381)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

1,62,738.700

1,50,384.500

1,33,268.800

Profit

(12515.600)

(27849.400)

(15971.400)

 

(7.69%)

(18.52%)

(11.98%)

 

 

 

 

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

Yes

33

Market information

----------

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS:

 

 

 

HIGH COURT OF GUJARAT

 

LETTERS PATENT APPEAL No. 465 of2015

In SPECIAL CIVIL APPLICATION/ 2859/ 2014( DISPOSED ) On : 22/01/2015

 

Status : PENDING

( Converted from : C/LPAST/390/2015 )

CCIN No : 001014201500465

 

 

Next Listing Date:

29/04/2015

Coram

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

Not Before :

·         HONOURABLE SMT. JUSTICE ABHILASHA KUMARI

 

S.NO.

Name of the Petitioner

Advocate On Record

1

DAKSHIN GUJARAT VIJ COMPANY LIMITED

MS LILU K BHAYA for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

S.NO.

Name of the Respondant

Advocate On Record

1
2

ESSAR STEEL INDIA LIMITED
APPELLATE AUTHORITY

NANAVATI ASSOCIATES for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

 

Presented On

: 09/03/2015

Registered On

: 13/03/2015

Bench Category

: -

District

: SURAT

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 2 times

StageName

: FOR FINAL HEARING

 

 

Office Objection

Filing Stage
Filing Stage
Filing Stage

·         WHETHER PAGING IS DONE ?

·         WHETHER COPIES ARE LEGIBLE AND WHETHER TYPED COPIES OF HAND WRITTEN ANNEXURES FILED ?

·         WHETHER COPIES ARE TRUE COPIES SO SIGNED BY ADVOCATE ?

 

Classification
  • LPA - NON-SERVICE - ELECTRICITY ACT, 2003 - DISPUTE WITH RESPECT TO ELECTRICITY BILL

Act
  • LETTERS PATENT, 1865

 

 

LowerCourt Details

 

S.No.

LowerCourt CaseDetail

LowerCourtName

JudgeName

Judgmentdate

1

SPECIAL CIVIL APPLICATION/2859/2014

GUJARAT HIGH COURT, AHMEDABAD

-

22/01/2015

 

 

 

 

 

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

09/03/2015

VAKALATNAMA

MS LILU K BHAYA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

5

MS LILU K BHAYA(1705) for P:1

2

09/03/2015

MEMO OF APPEAL/PETITION/SUIT

MS LILU K BHAYA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

50

MS LILU K BHAYA(1705), for P:1

3

12/03/2015

CERTIFIED COPY

MS LILU K BHAYA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

5

MS LILU K BHAYA(1705) for P:1

4

12/03/2015

ADDITIONAL FEE ON MEMO OF APPEAL/PETITION/SUIT

MS LILU K BHAYA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

50

MS LILU K BHAYA(1705) for P:1

5

12/03/2015

CAVEAT

NANAVATI ASSOCIATES CAVEATOR
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

NANAVATI ASSOCIATES(1375), as CAVEATOR for R:1

 

 

Linked Matters

 

S. No.

CaseDetail

Status Name

Disposal Date

Action/Coram

1

CIVIL APPLICATION/3386/2015

DISPOSED

17/03/2015

CA DISPOSED OF

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

 

 

Applications

 

S. No.

CaseDetail

Status Name

Disposal Date

Action/Coram

1

CIVIL APPLICATION/3327/2015

DISPOSED

13/03/2015

CA DISPOSED OF

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

2

CIVIL APPLICATION/3386/2015

DISPOSED

17/03/2015

CA DISPOSED OF

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

 

 

Court Proceedings

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

13/03/2015

5

-

FOR REMOVAL OF OFFICE OBJECTIONS

NEXT DATE

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

2

16/03/2015

5

-

FOR REGULAR ADMISSION

NEXT DATE

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

3

17/03/2015

5

25

ADMISSION (ADJOUNRED MATTERS)

FIXED RULE / ADMIT

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

4

29/04/2015

5

-

FOR FINAL HEARING

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

 

 

Available Orders

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

Download

1

LETTERS PATENT APPEAL/465/2015

·         HONOURABLE MR.JUSTICE KS JHAVERI

·         HONOURABLE MR.JUSTICE A.G.URAIZEE

16/03/2015

N

ORDER

-

Y

Download

 

 

 

Certified Copy

 

S. No.

ApplicantName

ApplicationType

Application Date

UOL Number

Order Date

Notify Date

Delivery Date

Status

Nature Of Document

1

NANAVATI ASSOCIATES

ORDINARY

18/03/2015

O/9783/2015

17/03/2015

-

-

Pending

ORDER

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

LONG TERM BORROWINGS

 

 

Dollar / Rupee Notes

 

 

--From Banks

2081.800

1974.500

--From others

21.300

29.700

Sales Tax Deferral Loan

338.800

338.800

Intercorporate deposits

12793.700

541.700

Long Term maturities of Finance Lease obligations

6.300

18.300

Other loans and advances

4747.400

6499.200

 

 

 

 

 

 

SHORT TERM BORROWINGS

 

 

Inter corporate Deposits from related parties

2270.000

11284.800

 

 

 

Total

22259.300

20687.00

 

 

GLOBAL SCENARIO

 

The world economy recorded a modest growth of 2.1 per cent in calendar year of 2013, marginally lower than last year as most economies battled out the fiscal and monetary policy actions in the aftermath of the financial crisis.

The EU finally came out of a prolonged recession & recorded a positive growth of 0.1% while the US recorded growth of 1.6%.

 

Large emerging economies including China arrested further slowdown and recorded growth of 7.7% growth.

 


INDIAN SCENARIO

 

First time in a decade India recorded growth below 5 % as it was burdened with high inflation, rising fiscal deficit, excessive trade imbalance & low investor confidence. India was among the worst hit of the emerging economies as its currency, stock, & bond markets experienced extreme volatility.

 

The year however came to an end on an optimistic note& cautious optimism with the new government and strong leadership paving way for stronger growth.

- Agricultural: - This sector recorded a growth rate of 4.6% in FY'14 versus 1.4% in FY'13.

- Industry: - IIP remained flat at 1.1% due to lower investments in infrastructure.

 

STEEL INDUSTRY

 

Global Overview

 

Global steel demand increased by an estimated 3.2%, China was the clear driver of global steel demand recording 6% growth, growth came on back of an increased infrastructure& construction activity, especially in Asia. In the rest of the world however, the demand for steel in 2013 failed to meet expectations as the demand in the EU continued to de grow at -3.8% & in the North America growth was a modest+0.2%.

The outlook for the coming fiscal is positive as most of the economies are trending on a positive path.

Excess capacity will continue to be the biggest challenge in this sector, most steel producing countries barring the US have surplus capacity & efforts to increase consumption will need to be a focus area of both the government & the industry players.

 

Domestic Overview

 

India today is the 4th largest steel producer in the World & is on track to be the 2nd largest producer as it will increase its capacity from current levels of 81 million tons to 110 million tons. The challenge & the opportunity remains the low per capita consumption and the industry will need to push the export agenda but more importantly work with the new government especially on policy initiatives in the area of infrastructure investment, raw material security & low energy cost to stay globally competitive

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10523882

27/09/2014

3,861,700,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C25495458

2

10523906

27/09/2014

3,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C25501750

3

10521824

17/09/2014

7,050,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C22244636

4

10515922

27/06/2014

630,000,000.00

YES BANK LIMITED

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

C17273129

5

10508485

18/06/2014

7,500,000,000.00

AXIS TRUSTEE SERVICES LIMITED

AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,
, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARAS
HTRA - 400025, INDIA

C10898013

6

10489741

30/04/2014

10,560,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C03712361

7

10494059

21/04/2014

8,110,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C04433488

8

10484443

20/03/2014

3,667,860,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C00318469

9

10484444

20/03/2014

14,854,833,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C00318501

10

10483017

10/03/2014

8,580,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B98652142

11

10483019

10/03/2014

4,560,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B98652696

12

10483615

10/03/2014 *

8,040,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C04533659

13

10482066

13/05/2014 *

6,111,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11258233

14

10456294

13/05/2014 *

614,630,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10419174

15

10450965

27/06/2014 *

60,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11744133

16

10452159

13/05/2014 *

866,933,200.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C09913161

17

10449813

13/05/2014 *

2,506,340,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10421626

18

10452157

20/05/2014 *

3,250,000,000.00

INDIAN OVERSEAS BANK

229, BHAKHTAWAR, GROUND FLOOR, NARIMAN POINT, MUM
BAI, MAHARASHTRA - 400021, INDIA

C04536215

19

10448499

17/04/2014 *

7,000,000,000.00

YES BANK LIMITED

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

C03793601

20

10441614

15/03/2014 *

5,384,700,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C12219879

21

10433365

13/05/2014 *

1,320,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10420859

22

10433227

13/05/2014 *

5,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11729985

23

10423211

13/05/2014 *

500,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10041457

24

10418593

13/05/2014 *

816,637,500.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10018158

25

10419736

13/05/2014 *

1,370,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11726833

26

10416513

13/05/2014 *

2,522,481,228.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11721529

27

10413314

13/05/2014 *

5,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10038107

28

10427208

25/03/2013

1,200,000,000.00

YES BANK LIMITED

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

B75650622

29

10427211

25/03/2013

3,400,000,000.00

YES BANK LIMITED

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

B75650945

30

10413333

13/05/2014 *

6,916,875,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11762721

31

10426367

17/04/2014 *

1,850,000,000.00

YES BANK LIMITED

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

C03794856

32

10412553

13/05/2014 *

1,250,050,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10693257

33

10412554

13/05/2014 *

815,250,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10423846

34

10410812

13/05/2014 *

3,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10045953

35

10400263

13/05/2014 *

2,500,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11308210

36

10399798

13/05/2014 *

6,721,375,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10057065

37

10399423

11/04/2014 *

1,375,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21,WORLD TRADE CENTRE,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11547049

38

10393685

08/07/2014 *

26,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10891828

39

10393432

13/05/2014 *

550,858,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11724721

40

10393229

13/05/2014 *

275,430,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11297173

41

10393055

13/05/2014 *

800,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C09915943

42

10391983

13/05/2014 *

2,719,400,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11248267

43

10391987

13/05/2014 *

4,895,100,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11256526

44

10390727

13/05/2014 *

20,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11254042

45

10391514

13/05/2014 *

555,200,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C10539302

46

10386942

27/02/2014 *

3,100,000,000.00

ICICI BANK LIMITED

ICICI BANK TOWERS, BANDRA KURLA COMPLEX, BANDRA E
AST, MUMBAI, MAHARASHTRA - 400051, INDIA

B98232119

47

10388020

13/05/2014 *

1,154,139,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11777802

48

10388023

13/05/2014 *

3,297,540,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11732054

49

10377182

15/01/2014 *

2,000,000,000.00

SREI INFRASTRUCTURE FINANCE LIMITED

VISHWAKARMA,86 C,TOPSIA ROAD (SOUTH), KOLKATA, WEST BENGAL - 700046, INDIA

B94502127

50

10378214

13/05/2014 *

8,800,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C09897018

51

10377686

13/05/2014 *

2,200,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11759073

52

10352084

30/06/2012 *

2,500,000,000.00

INDIAN OVERSEAS BANK

299 BAKHTAWAR, GROUND FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

B44365245

53

10311121

13/05/2014 *

10,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C12454088

54

10297913

09/06/2011

4,000,000,000.00

STATE BANK OF HYDERABAD

11-C, MITTAL TOWER, 210 NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

B17101502

55

10277806

13/05/2014 *

18,780,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11753985

56

10269161

07/02/2011

2,500,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

B06200323

57

10263330

07/01/2011

2,000,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE, H T PAREKH MARG, 169 BACKBAY RECLAMATION CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA

B04519351

58

10259676

20/12/2010

3,000,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE, H T PAREKH MARG, 169 BACKBAY RECLAMATION CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA

B03246410

59

10237423

13/05/2014 *

173,280,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202 MAKER TOWER E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C11760733

60

10227734

14/06/2010

1,500,000,000.00

UNITED BANK OF INDIA

25 SIR P M ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A88707708

61

10208286

20/03/2010 *

11,200,000,000.00

PUNJAB NATIONAL BANK

102-105, 1ST FLOOR, RAHEJA CHAMBERS, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA

A82448952

62

10186884

25/02/2010 *

2,800,000,000.00

PUNJAB NATIONAL BANK

FORESHORE ROAD, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400 021, INDIA

A81714453

63

10178251

11/09/2009

525,000,000.00

PUNJAB NATIONAL BANK

102, FIRST FLOOR, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

A70862347

64

10171714

13/05/2014 *

2,500,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

C16065351

65

10158414

20/03/2010 *

5,500,000,000.00

BANK OF INDIA

BANK OF INDIA BUILDING, 4TH FLOOR, 70/80, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400021, INDIA

A82352675

66

10104882

12/09/2008 *

2,000,000,000.00

UCO BANK

FLAGSHIP CORPORATE BRANCH, MCLEOD HOUSE, 3 N S ROAD, KOLKATA, WEST BENGAL - 700001, INDIA

A45113610

67

10073373

11/12/2007 *

1,812,400,000.00

IFCI LIMITED

EARNEST HOUSE, 8TH AND 9TH FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

A41195363

68

10052536

22/05/2007

1,950,000,000.00

INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A15736218

69

10053343

25/02/2011 *

1,182,200,000.00

ICICI BANK LIMITED

ICICI BANK TOWERS BANDRA KURLA COMPLEX, MUMBAI,
MUMBAI, MAHARASHTRA - 400051, INDIA

B08872913

70

10026265

17/11/2006

1,000,000,000.00

ALLAHABAD BANK

INDUSTRIAL FINANCE BRANCH, APEEJAY HOUSE, 3, DINSHAW WACHA ROAD, MUMBAI, MAHARASHTRA - 400020, INDIA

A06271795

71

10020610

11/10/2006

500,000,000.00

ALLAHABAD BANK

APEEJAY HOUSE, DINSHA WACHA ROAD, NR K C COLLEGE, CHUCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA

A05185186

72

10024588

11/12/2007 *

1,000,000,000.00

UCO BANK

MCLEOD HOUSE, 3, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA

A41758244

73

10019672

18/09/2006

500,000,000.00

ALLAHABAD BANK

INDUSTRIAL FINANCE BRANCH, APEEJAY HOUSE, 3, DINSHAW WACHA ROAD, MUMBAI, MAHARASHTRA - 400020, INDIA

A04805149

74

10014897

10/08/2006

3,550,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A03557212

75

80013163

11/12/2007 *

2,500,000,000.00

INDUSTRIAL DEVELOPMENT BANK OF INDIA

IDBI TOWER, WORLD TRADE CENTRE COMPLEX, CUFF PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

A36199834

76

90113001

30/06/2005

200,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

77

90138523

28/02/2005

200,000,000.00

YES BANK LIMITED

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

-

78

90138503

08/09/2004

500,000,000.00

ING VYSYA BANK LIMITED

POONAM CHAMBERS, A; WING DR. A.B. ROAD; WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA

-

79

90140322

27/08/2004

500,000,000.00

STANDARD CHARTERED BANK

90; MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

-

80

90138435

25/06/2003

3,125,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE; WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

-

*Date of modification Charges

 

 

 

FIXED ASSETS:

 

·         Freehold Land

·         Leasehold Land

·         Buildings

·         Leasehold Building

·         Plant and Machinery

·         Leasehold Plant and Machinery

·         Furniture and Fixtures

·         Office Equipment

·         Computers

·         Vehicles

·         Ships and Vessels

·         Railway Sidings and Wagons

·         Leasehold Railway Sidings and Wagons

·         Aircraft

·         Software’s

 

 

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.63.85

UK Pound

1

Rs.98.12

Euro

1

Rs.71.28

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

VNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

--

--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

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

YES

--EPF

YES/NO

NO

 

 

 

TOTAL

 

16

 

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.