MIRA INFORM REPORT
|
Report No. : |
326769 |
|
Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
JSW ENERGY LIMITED |
|
|
|
|
Registered
Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra |
|
Tel. No.: |
91-22-42861000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
10.03.1994 |
|
|
|
|
Com. Reg. No.: |
11-077041 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16400.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74999MH1994PLC077041 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
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. |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of generation of power, operation and
maintenance of power plants and trading in power. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. It was incorporated in 1994. Subject is a part of the JSW Group. The JSW
group has presence in various sectors, such as steel, power, cement etc. General financial position of the company seems to be healthy. The rating also takes into consideration, the volatility in the prices
of coal and foreign exchange rates which may affect the profitability. However, trade relations are fair. Business is active. Payment terms
are reported as regular and as per commitments. In view of long standing experience of the promoters, the company can
be considered good for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
February 19, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
February 19, 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
Management Non-Co-operative (91-22-42861000)
LOCATIONS
|
Registered Office/ Corporate Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra, India |
|
Tel. No.: |
91-22-42861000 |
|
Fax No.: |
91-22-42863000 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate/ Branch Office : |
The Enclave, Behind Marathe Udyog Bhavan, New Prabhadevi Road, Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-67838000/ 23513000 |
|
Fax No.: |
91-22-24320740 |
|
Location : |
Owned |
|
|
|
|
Vijayanagar Plant : |
SBU I and SBU II Post Box No. 9, Toranagallu, District |
|
Tel. No.: |
91-8395-252124 |
|
Fax No.: |
91-8395-250757 |
|
Location : |
Owned |
|
|
|
|
Ratnagiri Plant : |
Village Nandiwade, Post Jaigad, Taluka and District Ratnagiri – 415614, Maharashtra, India |
|
Tel. No.: |
91-2357-242501 |
|
Fax No.: |
91-2357-242508 |
|
Location : |
Owned |
|
|
|
|
Hydro Project : |
Kutehr Hydroelectric Project, Village and PO Garola, Tehsil Bharmour, District Chamba – 176309, Himachal Pradesh, India |
DIRECTORS
As on 23.07.2014
|
Name : |
Mr. Sajjan Jindal |
|
Designation : |
Chairman & Managing Director |
|
DIN No.: |
00017762 |
|
|
|
|
Name : |
Mr. Sanjay Sagar |
|
Designation : |
Joint Managing Director & CEO |
|
DIN No.: |
00019489 |
|
|
|
|
Name : |
Mr. Pramod Menon |
|
Designation : |
Director-Finance |
|
DIN No.: |
01443287 |
|
|
|
|
Name : |
Mr. Nirmal Kumar Jain |
|
Designation : |
Director |
|
DIN No.: |
00019442 |
|
|
|
|
Name : |
Mr. D. J. Balaji Rao |
|
Designation : |
Independent Director |
|
DIN No.: |
00025254 |
|
|
|
|
Name : |
Mr. Chandan Bhattacharya |
|
Designation : |
Independent Director |
|
DIN No.: |
01341570 |
|
|
|
|
Name : |
Mr. B. Ravindranath |
|
Designation : |
Nominee Director of IDBI Bank Limited |
|
DIN No.: |
02156076 |
|
|
|
|
Name : |
Mr. P. Abraham |
|
Designation : |
Independent Director |
|
DIN No.: |
00280426 |
|
|
|
|
Name : |
Mr. Shailaja Chandra |
|
Designation : |
Independent Director |
|
DIN No.: |
03320688 |
KEY EXECUTIVES
|
Name : |
Mr. Sampath Madhavan |
|
Designation : |
Company Secretary |
|
|
|
|
SENIOR MANAGEMENT TEAM |
|
|
|
|
|
Name : |
Mr. Satish Jindal |
|
Designation : |
Chief Operating Officer (Power Trading) |
|
|
|
|
Name : |
Mr. Kamal Kant |
|
Designation : |
Senior Vice President |
|
|
|
|
Name : |
Mr. Chhavi Nath Singh |
|
Designation : |
Senior Vice President |
|
|
|
|
Name : |
Mr. Vijay Paranjape |
|
Designation : |
Senior Vice President |
|
|
|
|
Name : |
Mr. Vijay Sinha |
|
Designation : |
Vice President |
SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
162634062 |
9.92 |
|
|
1067405842 |
65.08 |
|
|
1230039904 |
75.00 |
|
|
|
|
|
|
740 |
0.00 |
|
|
740 |
0.00 |
|
Total
shareholding of Promoter and Promoter Group (A) |
1230040644 |
75.00 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
11589335 |
0.71 |
|
|
90856547 |
5.54 |
|
|
118664977 |
7.24 |
|
|
221110859 |
13.48 |
|
|
|
|
|
|
11286807 |
0.69 |
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs.0.100
Million |
34527747 |
2.11 |
|
Individual shareholders holding nominal share capital in excess of
Rs.0.100 Million |
28599720 |
1.74 |
|
|
114489018 |
6.98 |
|
|
155245 |
0.01 |
|
|
2210344 |
0.13 |
|
|
3925382 |
0.24 |
|
|
108198047 |
6.60 |
|
|
188903292 |
11.52 |
|
Total Public
shareholding (B) |
410014151 |
25.00 |
|
Total (A)+(B) |
1640054795 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
1640054795 |
100.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Sl. No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total |
||
|
1 |
Sahyog Tradcorp Private Limited |
25,67,99,044 |
15.66 |
|
2 |
JSW Investments Private Limited |
24,55,35,507 |
14.97 |
|
3 |
JSL Limited |
14,53,32,820 |
8.86 |
|
4 |
Glebe Trading Private Limited |
14,53,32,820 |
8.86 |
|
5 |
Danta Enterprises Private Limited |
8,55,99,613 |
5.22 |
|
6 |
Virtuous Tradecorp Private Limited |
8,55,99,613 |
5.22 |
|
7 |
JSW Steel Limited |
6,78,49,090 |
4.14 |
|
8 |
Sajjan Jindal |
7,41,44,262 |
4.52 |
|
9 |
Tarini Jindal |
2,50,00,000 |
1.52 |
|
10 |
Tanvi Jindal |
2,50,00,000 |
1.52 |
|
11 |
Parth Jindal |
2,50,00,000 |
1.52 |
|
12 |
JSW Steel Limited |
2,36,25,000 |
1.44 |
|
13 |
Sangita Jindal |
1,30,83,125 |
0.80 |
|
14 |
Amba River Coke Limited |
57,54,640 |
0.35 |
|
15 |
JSW Cement Limited |
15,59,610 |
0.10 |
|
16 |
JSW Steel Coated Products Limited |
43,76,770 |
0.27 |
|
17 |
Nirmala Goyal |
1,00,000 |
0.01 |
|
18 |
Saroj Bhartia |
1,00,000 |
0.01 |
|
19 |
Urmila Bhuwalka |
1,00,000 |
0.01 |
|
20 |
Seema Jajodia |
1,00,000 |
0.01 |
|
21 |
Narmada Fintrade Private Limited |
40,500 |
0.00 |
|
22 |
Tarini Jindal |
2,225 |
0.00 |
|
23 |
Tanvi Jindal |
2,225 |
0.00 |
|
24 |
Parth Jindal |
2,225 |
0.00 |
|
25 |
JSW Holdings Limited |
445 |
0.00 |
|
26 |
Ratan Jindal |
370 |
0.00 |
|
27 |
Nalwa Sons Investments Limited |
370 |
0.00 |
|
28 |
Prithvi Raj Jindal |
370 |
0.00 |
|
|
Total |
1,23,00,40,644 |
75.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Life Insurance Corporation of India |
80475310 |
4.91 |
|
|
2 |
Steel Traders Limited |
59372000 |
3.62 |
|
|
3 |
Indus Capital Group Limited |
48826047 |
2.98 |
|
|
|
Total |
188673357 |
11.50 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of generation of power, operation and
maintenance of power plants and trading in power. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Information declined by the management. |
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|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited · ICICI Bank Limited · Punjab National Bank · State Bank of India · Vijaya Bank ·
Canara Bank |
||||||||||||||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint
Venture / Associates (As on 31.03.2014) : |
·
Barmer Lignite Mining Company Limited ·
MJSJ Coal Limited ·
Toshiba JSW Power Systems Private Limited
(formerly Toshiba JSW Turbine and Generator Private Limited) |
|
|
·
|
|
Related
parties with whom the Group has entered into transactions during the year (As
on 31.03.2014) : |
·
JSW Steel Limited ·
JSoft Solutions Limited ·
JSW Cement Limited ·
JSW Realty & Infrastructure
Private Limited ·
JSW Jaigarh Port Limited ·
JSW Techno Projects Management
Limited ·
JSW Infrastructure Limited ·
South West Port Limited ·
South West Mining Limited ·
JSW Green Private Limited ·
O.P. Jindal Foundation ·
JSW Foundation ·
JSL Lifestyle Limited ·
JSW Energy (Bengal) Limited ·
JSW Bengaluru Football Club Private
Limited (Formerly JSW Sports Private Limited) ·
JSW Steel Coated Products Limited ·
JSW Projects Limited ·
JSW Ispat Steel Limited (Merged with
JSW Steel Limited during the current year) |
CAPITAL STRUCTURE
AFTER 23.07.2014
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs.16400.547
Million
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,640,054,795 |
Equity Shares |
Rs.10/- each |
Rs.16400.500
Million |
|
|
|
|
|
Reconciliation of the
number of shares outstanding at the beginning and end of the year:
|
Particulars |
As at 31st March, 2014 |
|
Balance as at the beginning of the year |
1640054795 |
|
Issued during the year |
--- |
|
Balance as at the end of the year |
1640054795 |
Terms & Rights
attached to equity shares:
1.
The Company has only one class of equity shares
having a par value of Rs.10 each. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividend in Indian rupees. The
dividend proposed by the Board of Directors is subject to approval of the
Shareholders in the ensuing Annual General Meeting.
2.
In the event of liquidation, the equity shareholders
are eligible to receive the remaining assets of the Company after distribution
of all preferential amount, in proportion to the shareholding. However, no such
preferential amount exist currently.
Details of
shareholding more than 5%
|
Name of the Companies |
As at 31st March, 2014 |
|
JSW Investments Private Limited |
475478198 |
|
|
28.99% |
|
Sun Investments Private Limited |
145736700 |
|
|
8.89% |
|
Vrindavan Services Private Limited |
--- |
|
|
--- |
|
JSW Steel Limited |
98878500 |
|
|
6.03% |
|
Sahyog Tradcorp Private Limited |
229298660 |
|
|
13.98% |
Aggregate number
of Bonus shares issued and shares issued for consideration other than cash
during the last five years:
|
Particulars |
As at 31st March, 2014 |
|
Equity Shares issued as fully paid bonus shares by capitalization of
General Reserve and Surplus |
819856914 |
|
Equity Shares allotted pursuant to the scheme of Amalgamation without
consideration being received in cash |
--- |
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 |
16400.500 |
16400.500 |
16400.500 |
|
(b) Reserves & Surplus |
59537.400 |
53626.200 |
51331.900 |
|
(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) |
75937.900 |
70026.700 |
67732.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
35678.500 |
42641.100 |
47173.000 |
|
(b)
Deferred tax liabilities (Net) |
2549.200 |
1851.200 |
1537.200 |
|
(c)
Other long term liabilities |
29.800 |
23.600 |
23.600 |
|
(d)
long-term provisions |
100.100 |
60.800 |
53.100 |
|
Total
Non-current Liabilities (3) |
38357.600 |
44576.700 |
48786.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
1199.900 |
1200.000 |
|
(b) Trade payables |
14492.500 |
15987.600 |
20889.500 |
|
(c) Other current liabilities |
7403.200 |
7064.300 |
8650.700 |
|
(d)
Short-term provisions |
3984.900 |
3869.400 |
3878.600 |
|
Total
Current Liabilities (4) |
25880.600 |
28121.200 |
34618.800 |
|
|
|
|
|
|
TOTAL |
140176.100 |
142724.600 |
151138.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
70701.800 |
69088.700 |
69444.200 |
|
(ii) Intangible Assets |
0.000 |
4.600 |
16.000 |
|
(iii) Capital work-in-progress |
0.000 |
4672.500 |
7911.900 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
22983.600 |
22998.800 |
23041.800 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
18418.400 |
16026.000 |
18519.800 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
112103.800 |
112790.600 |
118933.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
13739.600 |
6341.900 |
5909.200 |
|
(b) Inventories |
4792.400 |
3744.200 |
4110.300 |
|
(c) Trade receivables |
5047.700 |
9921.100 |
13201.900 |
|
(d) Cash and cash equivalents |
2681.500 |
3940.300 |
3146.000 |
|
(e) Short-term loans and advances |
1310.700 |
3505.100 |
5292.700 |
|
(f) Other current assets |
500.400 |
2481.400 |
544.300 |
|
Total Current Assets |
28072.300 |
29934.000 |
32204.400 |
|
|
|
|
|
|
TOTAL |
140176.100 |
142724.600 |
151138.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
63319.500 |
58026.100 |
63964.500 |
|
|
Other Income |
2937.000 |
2549.400 |
3047.800 |
|
|
TOTAL |
66256.500 |
60575.500 |
67012.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of fuel |
36928.700 |
36427.700 |
38942.800 |
|
|
Increase in banked energy |
1919.800 |
(1886.700) |
(33.100) |
|
|
Employee benefits expense |
988.400 |
889.700 |
1065.000 |
|
|
Other expenses |
2455.800 |
2469.100 |
2932.400 |
|
|
Exceptional Items - Net foreign exchange loss |
342.300 |
3702.100 |
1699.500 |
|
|
TOTAL |
42635.000 |
41601.900 |
44606.600 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
23621.500 |
18973.600 |
22405.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5856.400 |
6275.500 |
5718.000 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
17765.100 |
12698.100 |
16687.700 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
4208.300 |
4528.500 |
4249.400 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
13556.800 |
8169.600 |
12438.300 |
|
|
|
|
|
|
|
Less |
TAX |
3611.300 |
2144.800 |
2508.000 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
9945.500 |
6024.800 |
9930.300 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
22171.100 |
21172.700 |
17177.100 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Debenture Redemption Reserve |
NA |
736.900 |
1352.300 |
|
|
General Reserve |
NA |
451.900 |
744.800 |
|
|
Proposed Dividend |
NA |
3280.100 |
3280.100 |
|
|
Dividend Distribution Tax |
NA |
557.500 |
557.500 |
|
|
Total |
NA |
5026.400 |
5934.700 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
22171.100 |
21172.700 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
27450.400 |
30473.200 |
|
|
Stores & Spares |
NA |
28.300 |
53.700 |
|
|
Capital Goods |
NA |
4.500 |
29.300 |
|
|
Others |
NA |
30.600 |
50.100 |
|
|
TOTAL IMPORTS |
NA |
27513.800 |
30606.300 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.06 |
3.67 |
6.05 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
5549.500 |
5725.200 |
|
Cash generated from operations |
NA |
17735.000 |
11974.900 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
15.71 |
10.38 |
15.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
37.31 |
32.70 |
35.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.57 |
7.10 |
10.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.12 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.47 |
0.71 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.06 |
0.93 |
STOCK
PRICES
|
Face Value |
Rs.10.00 /- each |
|
Market Value |
Rs. 104.00 /- each |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
16400.500 |
16400.500 |
16400.500 |
|
Reserves & Surplus |
51331.900 |
53626.200 |
59537.400 |
|
Net worth |
67732.400 |
70026.700 |
75937.900 |
|
|
|
|
|
|
long-term borrowings |
47173.000 |
42641.100 |
35678.500 |
|
Short term borrowings |
1200.000 |
1199.900 |
0.000 |
|
Current Maturities of
Long Term Debt |
5725.200 |
5549.500 |
0.000 |
|
Total borrowings |
54098.200 |
49390.500 |
35678.500 |
|
Debt/Equity ratio |
0.799 |
0.705 |
0.470 |
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 |
63964.500 |
58026.100 |
63319.500 |
|
|
|
(9.284) |
9.122 |
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 |
63964.500 |
58026.100 |
63319.500 |
|
Profit |
9930.300 |
6024.800 |
9945.500 |
|
|
15.52% |
10.38% |
15.71% |
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 |
No |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10359150 |
30/05/2012 |
1,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA |
B41011966 |
|
2 |
10318837 |
13/12/2011 * |
16,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B27761287 |
|
3 |
10318841 |
13/12/2011 * |
13,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B27761808 |
|
4 |
10304168 |
10/08/2011 |
2,950,000,000.00 |
Punjab National Bank |
Maker Tower 'E', Ground Floor,, Cuffe Parade,, Mumbai, Maharashtra - 400005, INDIA |
B19618271 |
|
5 |
10267059 |
24/03/2014 * |
21,600,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, Mumbai, Maharashtra - 400001, INDIA |
C00606129 |
|
6 |
10242287 |
14/01/2011 * |
12,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B03077666 |
|
7 |
10221262 |
23/03/2011 * |
3,065,000,000.00 |
PUNJAB NATIONAL BANK |
Vokkaligara Sangha Building, 1st Floor, Hudson Circle, Bangalore, Karnataka - 560027, INDIA |
B10321255 |
|
8 |
10218902 |
23/03/2011 * |
3,065,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B10347375 |
|
9 |
10221246 |
23/03/2011 * |
1,530,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH NO 25, SHANKARANARAYNA BUILDING MG ROAD, BANGALORE, Karnataka - 560001, INDIA |
B10402303 |
|
10 |
10181865 |
26/03/2011 * |
4,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B10296507 |
FINANCIAL
PERFORMANCE (As on 31.03.2014)
· The total revenue of the Company for fiscal 2014 stood at Rs.60575.500 Million as against Rs.67012.300 Million for fiscal 2013 showing a decrease of 9.61%.
·
The EBIDTA (before exceptional items)
decreased by 5.93% from Rs.24105.200 Million in fiscal 2013 to Rs.22675.700
Million in fiscal 2014.
·
Profit for the year decreased by 39.33%
from Rs.9930.300 Million in fiscal 2013 to Rs.6024.800 Million in fiscal 2014.
·
The net worth of the Company increased
to Rs.70026.700 Million at the end of fiscal 2014 from Rs.67732.400 Million at
the end of fiscal 2013.
·
The debt gearing of the Company was at
0.71 times as at the end of fiscal 2014 compared to 0.80 times at the end of
fiscal 2013.
FIXED ASSETS
· Freehold Land
· Leasehold Land
· Buildings
· Plant and Machinery
· Furniture and Fittings
· Motor Vehicles
· Specialized Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.88 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.72.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
67 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.