MIRA INFORM REPORT
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Report No. : |
327949 |
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Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
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Name : |
VEDANTA LIMITED |
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Formerly Known
As : |
SESA STERLITE LIMITED |
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Registered
Office : |
Sesa Ghor 20 Edccomplex Patto, Panjim – 403001, Goa |
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Tel. No.: |
91-832-2460600 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
25.06.1965 |
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Com. Reg. No.: |
24-000044 |
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Capital
Investment / Paid-up Capital : |
Rs. 2965.000 Millions |
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CIN No.: [Company Identification
No.] |
L13209GA1965PLC000044 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS14062G |
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PAN No.: [Permanent Account No.] |
AACCS7101B |
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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
: |
Subject is engaged in the business of iron ore mining,
non-ferrous metals (copper and aluminum production) and commercial power
generation. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
A (64) |
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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 well-established company having fine track record. The rating reflects company’s diversified business risk profile supported
by its adequate liquidity levels and healthy financial position of the
company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal 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 |
CRISIL |
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Rating |
Long term rating: AA+ |
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Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
20.01.2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating: A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
20.01.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) 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.: 91-832-2460600)
LOCATIONS
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Registered Office : |
Sesa Ghor 20 Edccomplex Patto, Panjim – 403001, Goa, India |
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Tel. No.: |
91- 832-2460600 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
Vedanta 75, Nehru Road, Vile Parle, Mumbai – 400057, Maharashtra,
India |
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Tel. No.: |
91-22-66461000 |
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Head Office : |
Business Square, C Wing 2nd Floor Andheri Kurla Road,
Chakala Andheri East Mumbai – 400096, Maharashtra, India |
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Plant Locations :
(Division) |
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Copper Anodes
(Smelter), Refinery, Continuous Cast Copper Rods and Captive Power Plant : |
SIPCOT Industrial Complex, Madurai By-pass Road, T.V. Puram PO, Tuticorin – 628002, Tamilnadu, India |
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Copper Cathodes
(Refinery) and Continuous Cast Copper Rods : |
1/1/2 Chinchpada,Silvassa – 396230 Union Territory of Dadra and Nagar Haveli, India |
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Continuous Cast
Copper Rods : |
209-B, Piparia Industrial Estate, Piparia, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India |
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Iron Ore - Mining : |
Codli Mine, P.O. Kirlapale,
Dabal - 403706, Goa, India |
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Tel. No.: |
91-832-2617200 |
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Fax No.: |
91-832-2618280 |
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Iron Ore – Mining : |
Madakeritura and other villages in Holakere and Chitradurga District, Karnataka, India |
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Pig Iron/ Metallurgical
Coke (Met Coke) : |
Navelim / Amona Village, Bicholim Taluka, Goa, India |
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Aluminium Smelters
(erstwhile Vedanta Aluminium Limited) : |
PMO Office, Bhurkhamunda, P O: Sripura, District: Jharsuguda – 768201, Orissa, India |
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Alumina Refinery
(erstwhile Vedanta Aluminium Limited) : |
Alumina Refinary Project, At / PO – Lanjigarh, Via – Viswanathpur, Kalahandi, Lanjigarh -766027, Odisha, India |
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Aluminium
(erstwhile Madras Aluminium Company Limited) : |
Mettur Dam R.S., Salem District - 636402, Tamilnadu, India |
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Power (erstwhile
Sterlite Energy Limited) : |
PMO Office, Bhurkahamunda PO-Sripura, Dist- Jharsuguda -768202, Odisha, India |
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Plant : |
Business Square, Solitaire park, Andheri- Mumbai – 400093, Maharashtra, India |
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Shipping: |
Queeny Elite, 1st Floor Swatantrapath, Vasco Da Gama - 403802, Goa, India |
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Tel. No.: |
91-832-2513053 |
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Fax No.: |
91-832-2511916 |
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Coke Plant: |
MetCoke Division, P.O. Bicholim, Amona, Goa - 403505 India |
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Tel. No.: |
91-832-3981400 |
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Pig Iron Plant: |
P.O. Bicholim, Amona, Goa - 403107, India |
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Tel. No.: |
91-832-2386090 |
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Ship Building: |
Sirsaim, Tivim Bardez Goa - 403502, India |
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Tel. No.: |
91-832-2298357 |
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Fax No.: |
91-832-2298439 |
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Sesa Community: |
Development Foundation - NCM Sesa Technical School, - Sesa Football Academy, P.O. Sanquelim, Goa – 403505, India |
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Tel. No.: |
91-832-2365509 |
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Iron Ore Division: |
Located at · Shanghai |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Navin Agarwal |
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Designation : |
Executive Chairman |
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Date of Birth/ Age: |
53 Years |
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Name : |
Lalita D, Gupte |
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Designation : |
Independent Non-executive Director |
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Date of Birth/ Age: |
65 Years |
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Qualification : |
Bachelor’s Degree in Economics and a Master’s degree in Business Management, advanced management programme from INSEAD |
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DIN No.: |
00043559 |
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Name : |
Mr. Naresh Chandra |
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Designation : |
Independent Non-executive Director |
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Date of Birth/ Age: |
79 Years |
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Qualification : |
Post graduate, Master of Science in Mathematics from Allahabad University and a retired officer of the Indian Administrative Services. |
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DIN No.: |
00015833 |
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Name : |
Mr. Ravi Kant |
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Designation : |
Independent Non-executive Director |
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Name : |
Mr. Gurudas Kamat |
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Designation : |
Independent Non-executive Director |
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Name : |
Tarun Jain |
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Designation : |
Whole-time Director |
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Date of Birth/ Age: |
54 Years |
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Qualification : |
Mr. Jain is a Fellow Member of The Institute of Chartered Accountants of India, a graduate of The Institute of Cost and Works Accountants of India and a Fellow member of The Institute of Company Secretaries of India |
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DIN No.: |
00006843 |
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Name : |
D. D. Jalan |
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Designation : |
Whole-time Director and Chief Financial Officer |
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Date of Birth/ Age: |
57 Years |
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Qualification : |
Mr. Jalan is a Fellow Member of The Institute of Chartered Accountants of India. |
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DIN No.: |
00006882 |
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Name : |
Tom Albanese |
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Designation : |
Director and Chief Executive Officer |
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Name : |
Mr. Ravi Kant |
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Designation : |
Independent Non-executive Director |
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Date of Birth/ Age: |
69 Years |
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Qualification : |
Bachelor of Technology degree in Metallurgical Engineering from the Institute of Technology, Kharagpur and a Master’s degree in Science from the University of Aston, Birmingham, UK |
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DIN No.: |
00016184 |
KEY EXECUTIVES
|
Name : |
Ms. Neha Bhandari |
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Designation : |
Head of Corporate Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
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|
445496 |
0.02 |
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|
121740 |
0.00 |
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|
567236 |
0.02 |
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|
|
|
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|
1764165424 |
64.31 |
|
|
1764165424 |
64.31 |
|
Total shareholding
of Promoter and Promoter Group (A) |
1764732660 |
64.33 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
40583841 |
1.48 |
|
|
98699311 |
3.60 |
|
|
1680 |
0.00 |
|
|
28611503 |
1.04 |
|
|
514280291 |
18.75 |
|
|
682176626 |
24.87 |
|
|
|
|
|
|
78075520 |
2.85 |
|
|
|
|
|
|
145750271 |
5.31 |
|
|
17665216 |
0.64 |
|
|
54962158 |
2.00 |
|
|
4322392 |
0.16 |
|
|
46693809 |
1.70 |
|
|
5400 |
0.00 |
|
|
975006 |
0.04 |
|
|
2957757 |
0.11 |
|
|
7794 |
0.00 |
|
|
296453165 |
10.81 |
|
Total Public
shareholding (B) |
978629791 |
35.67 |
|
Total (A)+(B) |
2743362451 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
99292708 |
0.00 |
|
|
122039080 |
0.00 |
|
|
221331788 |
0.00 |
|
Total
(A)+(B)+(C) |
2964694239 |
0.00 |
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 (A)+(B)+(C) |
||
|
1 |
Twin Star Holdings Ltd |
95,05,89,594 |
32.06 |
|
2 |
Finsider International Company Ltd |
40,14,96,480 |
13.54 |
|
3 |
Twin Star Holdings Ltd |
32,94,95,155 |
11.11 |
|
4 |
Westglobe Ltd |
4,43,43,139 |
1.50 |
|
5 |
Welter Trading Ltd |
3,82,41,056 |
1.29 |
|
6 |
Ankit Agarwal |
1,95,200 |
0.01 |
|
7 |
Pratik Pravin Agarwal |
1,44,600 |
0.00 |
|
8 |
Agarwal Galvanising P Ltd |
1,21,740 |
0.00 |
|
9 |
Suman Didwania |
87,696 |
0.00 |
|
10 |
Sakshi Mody |
18,000 |
0.00 |
|
|
Total |
1,76,47,32,660 |
59.52 |
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 |
Citibank NA New York NYADR Department |
221331788 |
7.47 |
|
|
2 |
Franklin Templeton Investment Funds |
69906539 |
2.36 |
|
|
3 |
Life Insurance Corporation Of India |
52386117 |
1.77 |
|
|
4 |
Bhadram Janhit Shalika |
42608460 |
1.44 |
|
|
|
Total |
386232904 |
13.03 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons (together with PAC) belonging to the category
“Public” and holding more than 5% of the total number of shares of the company
|
Sl. No. |
Name(s) of the shareholder(s) and the Persons
Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of Total No. of Shares |
|
|
1 |
Citibank NA New York NYADR Department |
122039080 |
4.12 |
|
|
|
Total |
122039080 |
4.12 |
Details of Depository Receipts (DRs)
|
Sl. No. |
Type of Outstanding DR (ADRs, GDRs, SDRs, etc.) |
No. of Outstanding DRs |
No. of Shares Underlying |
Shares Underlying Outstanding DRs as % of Total
No. of Shares |
|
1 |
ADR |
22,13,31,788 |
22,13,31,788 |
7.47 |
|
|
Total |
22,13,31,788 |
22,13,31,788 |
7.47 |
Holding of Depository Receipts (DRs), where underlying shares
held by 'promoter / promoter group' are in excess of 1% of the total number of
shares.
|
Sl. No. |
Name of the DR Holder |
Type of Outstanding DR (ADRs, GDRs, SDRs, etc.) |
No. of Shares |
Shares Underlying Outstanding DRs as a % of Total
No. of Shares |
|
1 |
CitiBank N.A. New York NYADR Department |
ADR |
9,92,92,708 |
3.35 |
|
|
Total |
9,92,92,708 |
3.35 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of iron ore mining,
non-ferrous metals (copper and aluminum production) and commercial power
generation. |
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Products : |
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Brand Names : |
Not Available |
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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 |
GENERAL INFORMATION
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Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
Canara Bank ·
State Bank of India ·
ICICI Bank Limited ·
Kotak Mahindra Bank ·
Yes Bank Limited ·
Standard Chartered Bank India ·
DBS Bank India
|
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Tower 3, 27th - 32nd
Floor, Indiabulls Finance Centre, Eiphinstone Mill Compound, Senapati Bapat
Marg, Elphinstone (West), Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-61854000 |
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Fax No.: |
91-22-61854501/4601 |
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Memberships : |
-- |
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Collaborators : |
-- |
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Entities Controlling the Company (Holding Companies): |
·
Volcan Investments Limited (Ultimate Holding
Company) ·
Vedanta Resources Plc (Intermediate Holding
Company) ·
Vedanta Resources Holdings Limited (Intermediate Holding
Company) ·
Richter Holding Limited (Intermediate Holding
Company) ·
Vedanta Resources Finance Limited (Intermediate
Holding Company) ·
Vedanta Resources Cyprus Limited (Intermediate
Holding Company) ·
Twin Star Holdings Limited (Intermediate Holding
Company) ·
Finsider International Company Limited ·
(Intermediate Holding Company) ·
Westglobe Limited (Intermediate Holding Company) ·
Welter Trading Limited (Intermediate Holding
Company) |
|
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Fellow Subsidiaries |
·
Konkola Copper Mines Plc ·
The Madras Aluminium Company Limited* (Fellow
Subsidiary upto August 17, 2014) ·
Sterlite Technologies Limited ·
Sterlite Grid Limited ·
Sterlite Iron and Steel Company Limited ·
Sterlite Industries (India) Limited* |
|
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Associates: |
·
Gaurav Overseas Private Limited ·
Raykal Aluminium Company Private Limited |
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Subsidiaries: |
·
Hindustan Zinc Limited (Previous Year: Fellow
Subsidiary) ·
Bharat Aluminium Company Limited (Previous Year:
Fellow Subsidiary) ·
Malco Energy Limited (Earlier Vedanta Aluminium Limited)
(Previous Year: Fellow Subsidiary) ·
Copper Mines of Tasmania Pty Limited (CMT) ·
Thalanga copper mines Pty Limited (TCM) ·
Sterlite Infra Limited (SIL) ·
Monte Cello B.V. (MOBV) ·
Talwandi Sabo Power Limited (TSPL) (Previous
Year: Fellow Subsidiary) ·
Sesa Resources Limited (‘SRL’) ·
Sesa Mining Corporation Limited (‘SMCL’) ·
Goa Energy Limited ·
Bloom Fountain Limited (‘BFL’) ·
Twin Star Energy Holdings Limited (‘TEHL’) ·
(Previous Year: Fellow Subsidiary) ·
Twin Star Mauritius Holdings Limited (‘TMHL’) (Previous
Year: Fellow Subsidiary) ·
Western Cluster Limited ·
Sterlite (USA) Inc. ·
Fujairah Gold FZC ·
THL Zinc Ventures Limited ·
THL Zinc Limited ·
THL Zinc Holding B.V. ·
THL Zinc Namibia Holdings (Proprietary) Limited ·
Skorpion Zinc (Proprietary) Limited ·
Skorpion Mining Company (Proprietary) Limited ·
Namzinc (Proprietary) Limited ·
Amica Guesthouse (Proprietary) Limited ·
Rosh Pinah Health Care (Proprietary) Limited ·
Black Mountain Mining (Proprietary) Limited
(Previous Year: Fellow Subsidiary) ·
Vedanta Lisheen Holdings Limited (earlier Vedanta
Lisheen Finance Limited) ·
Vedanta Lisheen Mining Limited ·
Killoran Lisheen Mining Limited ·
Killoran Lisheen Finance Limited ·
Lisheen Milling Limited ·
Vedanta Exploration Ireland Limited (Date of
Incorporation - May 16, 2013) ·
Sterlite Ports Limited ·
Maritime Ventures Private Limited ·
Sterlite Infraventures Limited ·
Pecvest 17 Proprietary Limited ·
Vizag General Cargo Berth Private Limited
(Previous Year: Fellow Subsidiary) ·
Paradip Multi Cargo Berth Private Limited ·
Lakomasko B.V. ·
Cairn India Limited @ ·
Cairn India Holdings Limited @ ·
Cairn Energy Holdings Limited @ ·
Cairn Energy Hydrocarbons Limited @ ·
Cairn Exploration Limited @ ·
Cairn Exploration Limited @ ·
Cairn Exploration Limited @ ·
Cairn Energy Gujarat Block 1 Limited @ ·
Cairn Energy Discovery Limited @ ·
Cairn Energy Cambay B.V. @ ·
Cairn Energy India West B.V. @ ·
Cairn Energy Gujarat B.V.@ ·
Cairn Energy Netherlands Holdings B.V. @ ·
Cairn Energy Australia Pty Limited @ ·
Cairn Energy India Pty Limited @ ·
CEH Australia Limited @ ·
CIG Mauritius Holdings Private Limited @ ·
CIG Mauritius Private Limited @ ·
Cairn Lanka Private Limited @ ·
Cairn South Africa Proprietary Limited @ ·
Cairn Energy Investments Australia Pty Limited @1 ·
Wessington Investments Pty Limited @1 ·
Sydney Oil Company Pty Limited @1 ·
Cairn Exploration (No.4) Limited @1 ·
Cairn Petroleum India Limited @1 ·
Cairn Energy India Holdings B.V. @1 ·
Cairn Energy Group Holdings B.V. @1 ·
Cairn Energy Gujarat Holding B.V @1 ·
Cairn Energy India West Holdings B.V. @1 ·
Cairn Energy Cambay Holding B.V. @1 ·
CEH Australia Pty Limited @1 ·
Cairn Energy Asia Pty Limited @1 |
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Others: |
·
Vedanta Foundation ·
Sesa Community Development Foundation ·
Public and Political Awareness Trust ·
Rampia Coal Mines and Energy Private Limited
(Jointly Controlled Entity) ·
Goa Maritime Private Limited (Jointly Controlled
Entity) |
|
NOTE: * Ceases to be related party for the Company pursuant to the Scheme of Amalgamation (Refer note no 31) @ Subsidiary w.e.f. August 26, 2013 (Previous Year: Associate) 1 Dissolved during the year $ Appointed as Chief Executive Officer w.e.f. April 1, 2014 # Appointed as Whole Time Director & Chief Financial Officer w.e.f. April 1, 2014 |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51260000000 |
Equity Shares |
Rs.1/- each |
Rs. 51260.000 Millions |
|
10100000 |
Add: Pursuant to the Scheme of Amalgamation |
|
Rs. 10.100 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 51270.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2965004871 |
Equity Shares |
Rs.1/- each |
Rs. 2965.000
Millions |
|
-- |
Add: Issued pursuant to the Scheme of Amalgamation * |
|
|
|
|
|
|
|
|
|
Total |
|
Rs. 2965.000 Millions |
NOTE:
* includes 310,632
(Previous year 330,384) equity shares kept in abeyance. These shares are not
part of listed equity capital.
Shares held by
ultimate holding company and its subsidiaries/associates
|
Particulars |
March 31, 2015 |
|
|
|
Number of Shares |
% of Holding |
|
Twinstar Holdings Limited |
1280084749 |
43.18 |
|
Twin Star Holdings Limited |
99292708 |
3.35 |
|
Finsider International Company Limited |
401496480 |
13.54 |
|
West Globe Limited |
44343139 |
1.50 |
|
Welter Trading Limited |
38241056 |
1.29 |
|
Total |
1863458132 |
62.86 |
(1) All the above entities are subsidiaries of Volcan Investments Limited, the ultimate holding company
(2) Represented by 24,823,177 American Depository Shares (“ADS”).
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
|
Particulars |
March 31, 2015 Number of Shares |
|
Equity shares issued during the year pursuant to Schemes of Amalgamation |
2095903448 |
|
Equity shares allotted as fully paid-up shares for consideration other than cash pursuant to the Scheme of Amalgamation (in FY 2010-11) |
9398864 |
Details of shareholders
holding more than 5% shares in the Company other than as shown in (C) above
|
Particulars |
March 31, 2015 |
|
|
|
Number of Shares |
% of Holding |
|
Twinstar Holdings Limited |
128084749 |
43.18 |
|
Twinstar Holdings Limited |
99292708 |
3.35 |
|
Finsider International Company Limited |
401496480 |
13.54 |
|
CITI Bank N. A. New York# (American depository shares held as depository) |
122039080 |
4.12 |
# 24,823,177 ADS, held by CITI Bank N.A. New York as a depository.
@ Excludes ADS held on behalf of Twin Star Holdings Limited
OTHER DISCLOSURES
(1) The Company has one class of equity shares having a par value of Rs. 1 per share. Each shareholder is eligible for one vote per share held and dividend as and when declared by the Company. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend which is paid as and when declared by the Board of Directors. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.
(2) ADS shareholders do not have right to attend General meetings in person and also do not have right to vote. They are represented by depository, CITI Bank N.A. New York. As on March 31, 2015, 221,331,788 equity shares were held in the form of 55,332,947 ADS.
(3) In terms of Scheme of Arrangement as approved by the Hon’ble High Court of Judicature at Mumbai, vide its order dated April 19, 2002 the erstwhile Sterlite Industries (India) Limited during 2002-2003 reduced its paid up share capital by Rs. 100.300 Million. There are 219,214 equity shares of Rs. 1 each pending clearance from NSDL/CDSL. The Company has filed application in Hon’ble High Court of Mumbai to cancel these shares, the final decision on which is pending. Hon’ble High Court of Judicature at Mumbai, vide its interim order dated September 06, 2002 restrained any transaction with respect to subject shares.
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 |
2965.000 |
2965.000 |
869.100 |
|
(b) Reserves & Surplus |
337613.700 |
333823.200 |
129368.800 |
|
(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) |
340578.700 |
336788.200 |
130237.900 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
217706.300 |
205342.200 |
11791.600 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
104.000 |
|
(c) Other long term
liabilities |
2025.900 |
3933.300 |
23.200 |
|
(d) long-term provisions |
18.100 |
22.600 |
18.100 |
|
Total
Non-current Liabilities (3) |
219750.300 |
209298.100 |
11936.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
131137.200 |
132340.900 |
36519.100 |
|
(b) Trade payables |
28788.100 |
24554.200 |
2443.000 |
|
(c) Other current liabilities |
55291.900 |
123752.700 |
2807.400 |
|
(d) Short-term provisions |
9797.800 |
8162.700 |
408.800 |
|
Total
Current Liabilities (4) |
225015.000 |
288810.500 |
42178.300 |
|
|
|
|
|
|
TOTAL |
785344.000 |
834896.800 |
184353.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
219877.000 |
224889.000 |
14685.700 |
|
(ii) Intangible Assets |
1381.600 |
951.300 |
860.200 |
|
(iii) Capital work-in-progress |
174221.600 |
173273.300 |
3633.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
260883.000 |
224191.100 |
145658.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
33192.200 |
99055.200 |
4548.900 |
|
(e) Other Non-current assets |
703.900 |
1044.000 |
0.000 |
|
Total
Non-Current Assets |
690259.300 |
723403.900 |
169386.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3762.700 |
3480.800 |
1277.000 |
|
(b) Inventories |
54420.700 |
56787.000 |
7560.200 |
|
(c) Trade receivables |
11576.900 |
13036.500 |
1404.400 |
|
(d) Cash and cash equivalents |
4641.400 |
21103.600 |
248.800 |
|
(e) Short-term loans and
advances |
17357.800 |
12834.400 |
2924.400 |
|
(f) Other current assets |
3325.200 |
4250.600 |
1551.900 |
|
Total
Current Assets |
95084.700 |
111492.900 |
14966.700 |
|
|
|
|
|
|
TOTAL |
785344.000 |
834896.800 |
184353.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
325024.100 |
285365.300 |
23476.300 |
|
|
Other Income |
20088.600 |
18170.600 |
3419.900 |
|
|
TOTAL
(A) |
345112.700 |
303535.900 |
26896.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
188496.900 |
179455.900 |
2245.900 |
|
|
Purchases of Stock-in-Trade |
9984.600 |
8192.500 |
1057.800 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
2638.000 |
(5568.600) |
(2057.700) |
|
|
Power and Fuel |
44330.500 |
46736.700 |
5574.800 |
|
|
Employees benefits expense |
6501.300 |
5590.800 |
1846.200 |
|
|
Exchange Loss/Gain |
8.100 |
0.000 |
0.000 |
|
|
Other expenses |
26778.300 |
27838.800 |
11390.800 |
|
|
Exceptional item |
24.300 |
1308.800 |
97.100 |
|
|
TOTAL
(B) |
278762.000 |
263554.900 |
20154.900 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
66350.700 |
39981.000 |
6741.300 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36559.300 |
35649.600 |
4692.300 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29791.400 |
4331.400 |
2049.000 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
10116.700 |
15047.900 |
1479.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
19674.700 |
(10716.500) |
569.900 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
402.700 |
(21477.400) |
(637.800) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
19272.000 |
10760.900 |
1207.700 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9870.500 |
20677.000 |
19621.000 |
|
|
|
|
|
|
|
Add |
TRANSFERRED
ON AMALGAMATION OF SESA INDUSTRIES LIMITED |
0.000 |
150.000 |
0.000 |
|
|
|
|
|
|
|
Add |
PURSUANT
TO THE SCHEME OF AMALGAMATION |
0.000 |
(7747.900) |
0.000 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transferred to debenture
redemption reserve |
NA |
3183.700 |
0.000 |
|
|
Interim dividend [dividend per share Rs.1.50/-] |
NA |
4447.000 |
0.000 |
|
|
Proposed dividend [dividend per share Rs.1.75/- (Previous
year Rs.0.10/-)] |
NA |
5188.800 |
86.900 |
|
|
Tax on Proposed dividend (net of dividend received from
subsidiary u/s 115 O of Income-tax Act, 1961) |
NA |
0.000 |
14.800 |
|
|
Transferred to general reserve |
NA |
1150.000 |
50.000 |
|
|
Balance
Carried to the B/S |
29142.500 |
9870.500 |
20677.000 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
144238.000 |
126859.600 |
12125.900 |
|
|
Management fees |
23.500 |
21.100 |
0.000 |
|
|
Dispatch money |
NA |
0.000 |
30.800 |
|
|
Sale of Carbon Credits |
NA |
0.000 |
27.600 |
|
|
Other services |
NA |
0.000 |
0.500 |
|
|
Others (ADS Reimbursement from CITI) |
30.300 |
71.500 |
0.000 |
|
|
TOTAL
EARNINGS |
144291.800 |
126952.200 |
12184.800 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
176602.300 |
176026.700 |
0.000 |
|
|
Components and spare parts |
939.800 |
750.100 |
3518.400 |
|
|
Fuel (including in transit) |
13123.300 |
10913.700 |
205.700 |
|
|
Capital Goods |
113.000 |
313.900 |
1115.900 |
|
|
TOTAL
IMPORTS |
190778.400 |
188004.400 |
4840.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.50 |
3.67 |
1.39 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
43310.800 |
29303.900 |
3789.400 |
QUARTERLY RESULTS
|
Particulars (Rs.
In Million) |
Jun 2014 |
Sep 2014 |
Dec 2014 |
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
71358.000 |
87352.500 |
86315.500 |
|
Total Expenditure |
62493.600 |
74346.900 |
71811.400 |
|
PBIDT (Excl OI) |
8864.400 |
13005.600 |
14504.100 |
|
Other Income |
6685.800 |
10245.000 |
676.200 |
|
Operating Profit |
15550.200 |
23250.600 |
15180.300 |
|
Interest |
9853.300 |
9964.200 |
8515.700 |
|
Exceptional Items |
0.000 |
(24.300) |
0.000 |
|
PBDT |
5696.900 |
13262.100 |
6664.600 |
|
Depreciation |
3994.500 |
4024.200 |
4070.800 |
|
Profit Before Tax |
1702.400 |
9237.900 |
2593.800 |
|
Tax |
0.000 |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1702.400 |
9237.900 |
2593.800 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1702.400 |
9237.900 |
2593.800 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.93 |
3.77 |
5.14 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
20.41 |
14.01 |
28.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.62 |
(2.45) |
1.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
(0.03) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.02 |
1.00 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.42 |
0.39 |
0.35 |
STOCK
PRICES
|
Face Value |
Rs. 1.00/- |
|
Market Value |
Rs. 172.10/- |
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 |
869.100 |
2965.000 |
2965.000 |
|
Reserves & Surplus |
129368.800 |
333823.200 |
337613.700 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
130237.900 |
336788.200 |
340578.700 |
|
|
|
|
|
|
long-term borrowings |
11791.600 |
205342.200 |
217706.300 |
|
Short term borrowings |
36519.100 |
132340.900 |
131137.200 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
48310.700 |
337683.100 |
348843.500 |
|
Debt/Equity
ratio |
0.371 |
1.003 |
1.024 |
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 |
23476.300 |
285365.300 |
325024.100 |
|
|
|
1,115.546 |
13.898 |
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 |
23476.300 |
285365.300 |
325024.100 |
|
Profit |
1207.700 |
10760.900 |
19272.000 |
|
|
5.14% |
3.77% |
5.93% |
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 |
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 |
LITIGATION
DETAILS:
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
Hearing Date : 29 August 2012 |
||||
|
||||
|
This Case is
updated on : 26 May 2015 |
INDEX OF CHARGES
|
S.no. |
Charge id |
Date of charge creation/modification |
Charge amount secured |
Charge holder |
Address |
Service request number (SRN) |
|
1 |
10510114 |
21/07/2014 |
50,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C12127023 |
|
2 |
10497008 |
15/04/2014 |
5,000,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
COMMERCIAL NETWORK BRANCH, 239, P DE MELLO ROAD, NEAR G.P.O, MUMBAI, MAHARASHTRA - 400001, INDIA |
C05304654 |
|
3 |
10470762 |
07/08/2014 * |
20,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
C16284358 |
|
4 |
10467271 |
25/03/2014 * |
10,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
C05299433 |
|
5 |
10464741 |
23/12/2013 * |
12,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B94118395 |
|
6 |
10449511 |
04/03/2014 * |
10,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B98559131 |
|
7 |
10437388 |
27/09/2013 * |
25,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B86679446 |
|
8 |
10419764 |
15/04/2013 |
20,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI,
MAHARAS |
B73207797 |
|
9 |
10403083 |
21/01/2013 |
20,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B67744896 |
|
10 |
10378088 |
04/09/2012 |
7,500,000,000.00 |
STATE BANK OF INDIA |
C.A.G. MUMBAI, NEVILLE HOUSE, J.N.HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B58717232 |
|
11 |
10285311 |
21/04/2011 * |
6,250,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PATTO PLAZA, PANAJI, GOA - 403001, INDIA |
B13742978 |
|
12 |
10276869 |
19/03/2011 |
1,600,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B09556101 |
|
13 |
10268621 |
26/07/2012 * |
4,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA |
B56079197 |
|
14 |
10217878 |
15/04/2010 |
1,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A85366698 |
|
15 |
10291966 |
07/01/2010 |
1,000,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, STATE BANK STAFF TRAINING CENTRE BLDG., PANAJI, GOA - 403001, INDIA |
A86441441 |
|
16 |
10291957 |
07/12/2009 |
380,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, STATE BANK LEARNING CENTRE BLDG., PANAJI, GOA - 403001, INDIA |
A83231258 |
|
17 |
10033074 |
22/03/2013 * |
174,500,000.00 |
THE ROYAL BANK OF SCOTLAND N.V |
4 NORTH AVENUE, MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B72817687 |
|
18 |
10033075 |
22/03/2013 * |
2,000,000,000.00 |
DEUTSCHE BANK AG |
HAZARIMAN SOMANI MARG, MUMBAI, MAHARASHTRA - 400001, INDIA |
B72933484 |
|
19 |
10024200 |
22/03/2013 * |
2,100,000,000.00 |
CITI BANK N.A. |
CITIBANK CENTER, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B72499650 |
|
20 |
10027283 |
22/03/2013 * |
2,700,000,000.00 |
STANDARD CHARTERED BANK |
19, RAJAJI SELAI, CHENNAI, TAMIL NADU - 600001, INDIA |
B72486723 |
|
21 |
10033069 |
22/03/2013 * |
4,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, NEVILLE HOUSE, J .N. HEREDIA MARG, MUMBAI, MAHARASHTRA - 400001, INDIA |
B73025850 |
|
22 |
10024856 |
22/03/2013 * |
5,000,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B72499031 |
|
23 |
10020828 |
22/03/2013 * |
8,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B72463979 |
|
24 |
10026057 |
22/03/2013 * |
17,000,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B72487580 |
|
25 |
80064579 |
21/01/2012 * |
1,000,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS,, BANDRA KURLA COMPLEX,BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B31675275 |
|
26 |
90001523 |
09/10/2003 |
1,150,000,000.00 |
ICICI BANK LTD. |
LANDMARK, RACE COURSE
CIRCLE, VADODARA, GUJARAT - |
- |
|
27 |
90144569 |
05/07/2003 |
2,500,000,000.00 |
WESTERN INDIA TRUSTEE AND EXECUTOR COMPANY LIMITED |
161/C MITTAL COURT, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
28 |
90144006 |
15/07/2002 |
2,500,000,000.00 |
ICICI BANK LIMITED |
RACE COURSE CIRCLE, VADODARA, MAHARASHTRA - 390007, INDIA |
- |
|
29 |
90001135 |
27/11/2000 |
245,000,000.00 |
HDFC BANK LTD. |
169-A; ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
30 |
90065050 |
07/06/2004 * |
463,000,000.00 |
CANARA BANK |
PANJIM GOA, PANJIM, GOA, INDIA |
- |
|
31 |
90001092 |
23/07/2000 |
300,000,000.00 |
ICICI BANK LTD. |
110; MAHATMA GANDHI SALAI, NUNGAMBAKKAM, MADRAS, TAMILNADU - 600034, INDIA |
- |
|
32 |
90065022 |
28/06/2000 * |
250,000,000.00 |
ICICI LTD. |
ICICI TOWERS, BANDRA KURLA COMPLEX; BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
|
33 |
90000952 |
14/06/1999 |
100,000,000.00 |
THE HDFC BANK LTD. |
169 A; ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
34 |
90000899 |
25/11/2004 * |
25,000,000.00 |
HDFC BANK LTD. |
ITC CENTRE; 759
ANNA SALAI, CHENNAI, TAMILNADU - |
- |
|
35 |
90000854 |
17/06/1998 |
20,000,000.00 |
THE HDFC BANK LTD. |
169 A. ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
36 |
90064966 |
25/10/1989 * |
15,000,000.00 |
STANDAED CHARTERED BANK |
VASCO DA GAMAM, GOA, GOA - 403001, INDIA |
- |
|
37 |
90065476 |
16/07/1997 * |
15,000,000.00 |
CANARA BANK |
VASCO DA GAMA, GOA, GOA, INDIA |
- |
|
38 |
90065462 |
15/03/1995 |
33,218,262.00 |
CANARA BANK |
PANJIM, GOA, GOA, INDIA |
- |
|
39 |
90065255 |
30/03/2004 * |
76,800,000.00 |
CANARA BANK |
PANAJI, PANAJI, GOA, INDIA |
- |
|
40 |
90064930 |
12/04/1994 |
770,000.00 |
ICICI BANK LTD |
141; MAKER TOWERS "F" ; CUFFE PARADE, BOMBAY, MAHARASHTRA, INDIA |
- |
|
41 |
90065232 |
04/04/1995 * |
15,000,000.00 |
STANDARD CHARTRED BANK |
VASCO DA GAMA, VASCO DA GAMA, GOA, INDIA |
- |
|
42 |
90064883 |
15/05/1991 * |
648,270.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPORATION O |
163; BACKBAY; RECLAMTION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
43 |
90064873 |
15/05/1991 * |
37,000,000.00 |
INDUSTRIAL FINANCE CORPO. OF INDIA |
BANK OF BARODA BUILDING, 16;SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
|
44 |
90064858 |
01/11/1990 * |
14,900,000.00 |
STATE BANK OF INDIA |
PANJIM GOA, PANJIM, GOA, INDIA |
- |
|
45 |
90065417 |
02/08/1993 * |
14,900,000.00 |
STATE BANK OF INDIA |
PANJIM, PANJIM, GOA, INDIA |
- |
|
46 |
90065211 |
21/12/1988 |
6,750,000.00 |
CANARA BANK |
PANJIM GOA, PANJIM OA, GOA, INDIA |
- |
|
47 |
90000162 |
29/04/1987 |
12,443,000.00 |
INDIAN BANK |
PATULLOS ROAD BRANCH, MADRAS, TAMIL NADU, INDIA |
- |
|
48 |
90065405 |
18/02/2011 * |
3,130,000,000.00 |
CANARA BANK |
MATHISA PLAZA, GROUND FLOOR, 18TH JUNE ROAD, PANAJI, GOA - 403001, INDIA |
B08309106 |
|
49 |
90065199 |
15/12/1996 * |
46,200,000.00 |
CANARA BANK |
PANJIM GOA, PANJIM, GOA - 403001, INDIA |
- |
|
50 |
90000017 |
03/04/1973 |
3,342,263.00 |
THE INDUSTRIAL
CREDIT AND INVEST. CORPN. OF INDIA |
163; BACKBAY RECLAMATION, FORT, BOMBAY, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred sales tax liability |
1331.600 |
1385.700 |
|
Foreign currency convertible bonds |
0.000 |
0.000 |
|
Short-term
borrowings |
|
|
|
Buyers’ credit from banks |
40069.700 |
20529.600 |
|
Commercial paper d |
35100.000 |
32800.000 |
|
Loans repayable on demand from banks |
140.600 |
0.000 |
|
Loans and advances from related parties |
75.200 |
0.000 |
|
Packing credit from banks |
7208.400 |
4914.800 |
|
Suppliers’ credit |
399.500 |
13546.000 |
|
Total |
84325.000 |
73176.100 |
|
NOTE: LONG TERM BORROWING Unsecured Unsecured deferred sales tax liability of Rs. 1385.800 Million [including current maturity of long-term borrowings of Rs. 54.200 Million (Refer note no 10)] outstanding as at March 31, 2015 is currently repayable in monthly instalments till March 2027. The Company has not defaulted in the repayment of loans
and interest as at Balance Sheet date. SHORT TERM
BORROWING A ) Buyer’s credit
from banks (Secured) includes: i) Rs. 18455.400 Million of Aluminium division at an interest rate of LIBOR plus 22- 55 basis points secured by exclusive charge on the assets of Jharsuguda Aluminium imported under facility and first charge on current assets of Aluminium division on pari-passu basis. ii) Rs. 28000.000 Million of Copper India at an interest rate of 0.68% per annum secured by way of first charge by hypothecation on the entire stock of raw materials, work-in-progress and all semi-finished, finished, manufactured articles together with all stores, components and spares, both present and future book debts, outstanding monies, receivables, claims and bills arising out of sale etc. and such charge in favour of the banks ranking pari-passu inter se, without any preferences or priority to one over other(s) in any manner. iii) Rs. 1688.400 Million at the Jharsuguda 2,400 MW power plant at an interest rate ranging from 0.52% to 0.86% per annum secured against first pari passu charge on entire current assets of Jharsuguda 2,400 MW power plant. B) Maximum amount outstanding at any time during the year was Rs. 64850.000 Million (Previous year Rs. 80200.000 Million). C) The Company has not defaulted in the repayment of loans and interest as at Balance Sheet date. |
||
COMPANY OVERVIEW
Vedanta Limited [formerly known as Sesa Sterlite Limited / Sesa Goa Limited] (“Vedanta” or “the Company”) and its consolidated subsidiaries are principally engaged in the business of iron ore mining, non-ferrous metals (copper, aluminium and zinc), commercial power generation and oil and gas. Vedanta’s equity shares are listed on National Stock Exchange and Bombay Stock Exchange in India and its American depository shares (“ADS”) are listed on New York Stock Exchange in United States of America. Each ADS represents four equity shares. Vedanta is majorityowned and controlled subsidiary of Vedanta Resources Plc, the London listed diversified natural resource company
The Company’s oil and gas business is owned and operated by Cairn India Limited (“Cairn”) in which Vedanta has 59.88% interest as at March 31, 2015.
The Company’s zinc India business is owned and operated by Hindustan Zinc Limited (“HZL”) in which it has 64.92% interest as at March 31, 2015.
The Company’s zinc international business comprises Skorpion mine and refinery in Namibia operated through THL Zinc Namibia Holdings (Proprietary) Limited (“Skorpion”), Lisheen mine in Ireland operated through Vedanta Lisheen Holdings Limited (“Lisheen”) and Black Mountain Mining (Proprietary) Limited (“BMM”), whose assets include the Black Mountain mine and the Gamsberg mine project which is in exploration stage, located in South Africa.
The
Company’s iron ore business is wholly owned by Vedanta and Sesa Resources
Limited and consists of exploration, mining and processing of iron ore, pig
iron and metallurgical coke and generation of power. The Company’s iron ore
business also comprises Western Cluster Limited (“WCL”) in Liberia which has
iron assets and is wholly owned by the Company. WCL’s assets include
development rights to Western Cluster and a network of iron ore deposits in
West Africa.
The Company’s copper business is owned and operated by Vedanta, Copper Mines of Tasmania Pty Ltd (“CMT”) and Fujairah Gold FZC and is principally one of custom smelting.
The Company’s aluminium business is owned and operated by Vedanta and Bharat Aluminium Company Limited (“BALCO”) in which it has 51% interest as on March 31, 2015. Aluminium business consists of mining of bauxite, manufacture of alumina and various aluminium products and generation of power.
The Company’s power business is owned and operated by Vedanta, Talwandi Sabo Power Limited (“TSPL”), 274 MW of wind power plants commissioned by HZL and 270 MW power plant at BALCO.
The Company’s other activities include mechanization of coal handling facilities and upgradation of general cargo berth for handling coal at the outer harbor of Visakhapatnam Port on the east coast of India and is handled by Vizag General Cargo Berth Private Limited (“VGCB”) and Paradip Multi Cargo Berth Private Limited (“PMCB”), in which the Company owns 99.99% and 74% interest respectively.
Subsequent to the year end, pursuant to the approval of the members of the Company and receipt of fresh certificate of incorporation from the Ministry of Company Affairs dated April 21, 2015, the name of the Company has been changed to Vedanta Limited.
During the previous year, pursuant to approval received from Registrar of Companies, the name of the Company had been changed from Sesa Goa Limited to Sesa Sterlite Limited w.e.f. September 18, 2013.
PERFORMANCE
REVIEW
The
Group structure consolidation and simplification exercise, announced in
February 2012, was concluded and took effect in two phases on August 17, 2013
and August 19, 2013. Therefore, the numbers of FY 2013-14 are not comparable
with FY 2012-13. On account of the merger, the Company on standalone is into
iron-ore, copper, aluminium and power businesses.
The
merger of Sterlite Industries (India) Limited. and Sesa Goa Limited., and the
consolidation of the Vedanta Group has created India’s largest and one of the
world’s top seven diversified natural resource majors by market capitalisation
and EBITDA.
The
merger creates a platform to reinforce the Company’s position with a
diversified portfolio to reduce the volatility of earnings through commodity
cycles, lowering capital cost and enhancing value. The consolidation will
generate significant financial and operational synergies.
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
(a)Disputed liabilities in appeal : |
|
|
|
12096.300 |
13474.900 |
|
6872.000 |
4984.600 |
|
1604.200 |
1543.200 |
|
398.300 |
259.500 |
|
367.900 |
140.400 |
|
599.000 |
599.000 |
|
2978.000 |
2978.000 |
|
1093.800 |
1073.300 |
|
121.100 |
121.100 |
|
110.700 |
106.300 |
|
(b)Claims against the company not acknowledged as debts principally related to commercial and employment contracts, stacking charges, dead rent on deemed mining leases and royalty. |
4009.300 |
2492.900 |
STATEMENT OF
UNAUDITED STANDALONE RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2014
PART I
(Rs. In Millions)
|
Particulars |
Quarter Ended 31.12.2014 |
Quarter Ended 30.09.2014 |
Nine Months Ended 31.12.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
85929.500 |
86935.00 |
243544.900 |
|
b) Other operating income |
386.000 |
417.500 |
1169.700 |
|
Total
income from Operations(net) |
86315.500 |
87352.500 |
244714.600 |
|
2.Expenses |
|
|
|
|
a) Cost of material consumed |
50998.900 |
51980.300 |
143223.900 |
|
b) Purchases of stock in trade |
2329.700 |
2541.200 |
8265.800 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(391.200) |
(362.000) |
(4770.700) |
|
d) Employees benefit expenses |
1450.800 |
1665.800 |
4600.300 |
|
e) Depreciation and amortization expenses |
4070.800 |
4024.200 |
12089.500 |
|
f) Power and Fuel charges |
11255.500 |
12246.900 |
34392.700 |
|
g) Exchange Loss / (Gain) |
(0.900) |
412.800 |
596.200 |
|
h Other expenses |
6167.700 |
5861.900 |
596.200 |
|
Total expenses |
75881.300 |
78371.100 |
220429.100 |
|
3. Profit/(loss)
from operations before other income, financial costs and
exceptional items |
10434.200 |
8981.400 |
24285.500 |
|
4. Other income |
675.300 |
10245.000 |
7735.600 |
|
5. Profit/ (loss) from ordinary activities before finance
costs and exceptional |
11109.500 |
19226.400 |
41891.600 |
|
6. Finance costs |
8515.700 |
9964.200 |
28333.200 |
|
7. Net profit/(loss) from ordinary activities after
finance costs but before exceptional items |
2593.800 |
9262.200 |
13558.400 |
|
8. Exceptional item |
-- |
24.300 |
24.300 |
|
9. Profit from ordinary activities before tax
Expense: |
2593.800 |
9237.900 |
13534.100 |
|
10.Tax expenses |
-- |
-- |
-- |
|
11.Net
Profit / (Loss) from ordinary activities after tax |
2593.800 |
9237.900 |
13534.100 |
|
12.Extraordinary
Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net
Profit / (Loss) for the period |
2593.800 |
9237.900 |
13534.100 |
|
14.Paid-up
equity share capital (Nominal value Re. 1/- per share) |
2965.000 |
2965.000 |
2965.00 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings
per share (before extraordinary items) of Re. 1/- each) (not annualised): |
|
|
|
|
(a) Basic |
0.87* |
3.12* |
4.56* |
|
(b) Diluted |
0.87* |
3.12* |
4.56* |
PART II
SELECT INFORMATION
|
Particulars |
Quarter Ended 31.12.2014 |
Quarter Ended 30.09.2014 |
Nine Months Ended 31.12.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
A. Particulars of
shareholding |
|
|
|
|
1. Public
Shareholding |
|
|
|
|
- Number of shares |
978582499 |
1034843184 |
978582499 |
|
- Percentage of shareholding |
3.01% |
34.91% |
33.01% |
|
2. Promoters and
Promoters group Shareholding (Excluding shares against with ADRs are issued)
$ |
|
|
|
|
a) Pledged
/Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the promoter and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
1764732660 |
1691651651 |
1764732660 |
|
Percentage of shares (as a % of total shareholding of the promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
|
59.52% |
57.06% |
59.52% |
|
Percentage of shares (as a % of total share capital of the company) |
|
|
|
$ The promoter and promoter group in addition to the equity shareholding
also hold 3.35% of the equity capital in the form of ADR represented by
99292708 equity shares as on June 30, 2014.
The balance ADR of 4.12% represented 122081572 equity shares are held by
CITI Bank as custodian.
Allotted in respect of 315432 equity shares to the shareholders of
erstwhile Sterlite Industries (India) Limited have been kept in abeyance.
|
Particular
|
Quarter ended 30.12.2014 |
|
B.
Investor Complaints (Nos.) |
|
|
Pending at the beginning of the quarter |
-- |
|
Receiving during the quarter |
9 |
|
Disposed of during the quarter |
9 |
|
Remaining unreserved at the end of the quarter |
-- |
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars |
Quarter Ended 31.12.2014 |
Quarter Ended 30.09.2014 |
Nine Months Ended 31.12.2014 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. Segment
Revenue |
|
|
|
|
a.
Copper |
50909.300 |
52340.100 |
141520.700 |
|
b.
Iron Ore |
707.400 |
1102.700 |
2635.700 |
|
c.
Aluminium |
23819.900 |
22986.500 |
67993.900 |
|
d.
Power |
6622.800 |
5770.200 |
18973.600 |
|
e.
Others |
6740.200 |
6298.800 |
17436.100 |
|
Total |
87799.600 |
88498.300 |
248560.000 |
|
Less
: Inter Segment Revenue |
1870.100 |
1563.300 |
5015.100 |
|
Net
Sales/ Income from Operations |
85929.500 |
86935.000 |
243544.900 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
a.
Copper |
5227.100 |
5034.700 |
11335.400 |
|
b.
Iron Ore |
(724.900) |
(39.000) |
(999.700) |
|
c.
Aluminium |
4684.200 |
3066.800 |
10006.600 |
|
d.
Power |
530.200 |
667.300 |
2650.700 |
|
e.
Others |
926.500 |
885.600 |
2368.200 |
|
Total |
10643.100 |
9615.400 |
25361.200 |
|
|
|
|
|
|
Less : Finance Cost |
8515.700 |
9964.200 |
28333.200 |
|
Add: Other un-allocable income net off expenses |
466.400 |
9611.000 |
2996.300 |
|
Less: Exceptional Items |
-- |
24.300 |
24.300 |
|
Profit
before Tax |
2593.800 |
9237.900 |
13534.100 |
|
3.
Capital Employed |
|
|
|
|
a.
Copper |
47142.200 |
50757.000 |
47142.200 |
|
b.
Iron Ore |
17159.600 |
16735.100 |
17159.600 |
|
c.
Aluminium |
289182.600 |
289995.600 |
289182.600 |
|
d.
Power |
76132.700 |
75236.000 |
76132.700 |
|
e.
Others |
11299.400 |
10828.700 |
11299.400 |
|
f.
Unallocated |
(97359.500) |
(97530.200) |
(97359.500) |
|
Total |
343557.000 |
346022.200 |
343557.000 |
PRESS RELEASE
VEDANTA DECLARED “BEST DIVERSIFIED EXPORTER” AT THE ECGC – D&B
INDIAN EXPORTERS’ EXCELLENCE AWARDS 2015
Vedanta, one of India’s largest diversified natural
resources company, with operations across zinc, lead, silver, oil and gas, iron
ore, copper, aluminium and commercial power has been declared as India’s
‘Best Diversified Exporter’ at the ECGC (Formerly Export Credit
Guarantee Corporation of India Limited) – D and B (Dun and Bradstreet ) Indian Exporters’ Excellence
Awards 2015.
The award instituted by ECGC Ltd serves as a driving point for the exporters to pursue excellence and demonstrate exemplary performance. This award conferred on Vedanta recognizes the contribution of natural resources exports which contributed significantly to the Indian economy.
Commenting on the achievement, Mr. Tom Albanese, Group CEO, Vedanta, said, “This award is a testament to Vedanta’s Best of Class Business which leverage technology to ensure the best quality of exported commodities. At Vedanta, we believe in creating and delivering significant meaningful value to our stakeholders, and partnering India’s growth through the natural resources sector. ”
The Total Export Revenues (excluding deemed revenue) of Vedanta’s Indian operations in the financial year 2013-2014 stood at Rs. 155990.000 million. The top 3 products exported were copper cathode, zinc ingots and aluminium ingots.
The award was presented by Ms. Nirmala Sitharaman, Honourable Minister of State, Ministry of Commerce and Industry, at a ceremony held in Mumbai recently. Representing Vedanta, the award was received by Mr. Puneet Jagatramka, senior Vice President Central procurement and Marketing- Aluminium Business, Mr. Alok Ranjan, Head Copper business and Mr. Nikhil Supekar, Head International Sales, Hindustan Zinc.
About ECGC - D&B
Indian Exporters’ Excellence Awards 2015
Indian Exporters’ Excellence Awards 2015 is a tribute to the leading exporters from various sectors which include manufacturing; trading and services. Companies with minimum 10% revenue from the export sales for FY14 were eligible for nomination. The award program included award categories across various revenue segments providing opportunity for all types of exporters across the country.
About Vedanta
Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil and gas. The Company produces oil and gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Sesa Sterlite Limited (SSLT), formerly Sesa Goa Limited, is the Indian subsidiary of Vedanta Resources Plc, a Londonlisted company. Sustainability is at the core of SSLT's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
MALCO ENERGY SUPPORTED PULSE POLIO IMMUNIZATION CAMPAIGN 2015
Vedanta's SSLT collaborated with the Primary Health Center at Komburankadu in Tamil Nadu for Pulse Polio Immunization Campaign 2015. This campaign held on January 18, 2015 benefitted 2,387 children.
"The main objective of MALCO Energy Limited through this campaign is to support the local government for reaching out to all locations under Primary Health Center at Komburankadu in Tamil Nadu to administer the Oral Polio Vaccine," said C Murugeswaran, Head Operations and Whole-time Director, MALCO Energy Limited. The awareness of this campaign was undertaken at a District level through print and electronic media.
MEL is supporting the pulse polio immunization campaign for the last 20 years which has so far benefitted more than 40,000 children in the nearby communities. MEL's support reiterates Vedanta's strong commitment towards health-care initiatives for the local communities.
The Pulse Polio Immunization campaign was launched in India in 1995-96. The children in the age group of 0-5 years were administered polio drops during national and sub- national immunization rounds every year.
ABOUT VEDANTA
Vedanta is a diversified natural resources company, whose
business primarily involves exploring and processing minerals and oil and gas.
The company produces oil & gas, zinc, lead, silver, copper, iron ore,
aluminium and commercial power and has a presence across India, South Africa,
Namibia, Ireland, Australia, Liberia and Sri Lanka.
Sesa Sterlite Limited (SSLT) formerly known as Sesa Goa
Limited, is the Indian subsidiary of Vedanta Resources Plc, a London-listed
company. Sustainability is at the core of SSLT's strategy, with a strong focus
on health, safety and environment and on enhancing the lives of local
communities.
SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in
India and has ADRs listed on the New York Stock Exchange.
VEDANTA’S SSLT JHARSUGUDA DISTRIBUTES QUILTS TO SPECIAL CHILDREN AT
BRUNDAMAL
Jharsuguda, Odisha, India,
January9, 2015: Vedanta's
SSLT, Jharsuguda in partnership with Vedanta Foundation distributed quilts to
the students of special school at Brundamal near its plant premises. During the
occasion, Ms Matilata Dungdung, District Social Welfare Officer, Mr G.G. Pal,
Dy. Plant 1 Head, SSLT, Jharsuguda, Mr Dinamani Bishi, Area Coordinator-
Odisha, Vedanta Foundation distributed 87 quilts to the students of the school
in presence of Ms Sudhansu Bala Muduli, Principal, Special School, Brundamal
and Mr Sanjeev Patnaik, Head PR, SSLT, Jharsuguda.
The objective of the initiative was to support children in
need of special care by providing them essentialities for basic comfort and the
effort was lauded by Mrs. Dungdung. She appreciated this noble initiatives
keeping in view of the severer prevailing cold condition in the region and also
expressed hope for the other supports that can be extended in future. Mr Pal
reiterated the commitment of the organization and said that such initiatives
are our societal commitment and we must continue them. Led by our leader Mr.
Anil Agarwal, we are committed to reach out to all the children in need of
development care and protection and we are reaching out to thousands of
children around our presence globally.
Present on the occasion were all the CSR and PR members of SSLT, Jharsuguda, guardians of the students and others citizens of the locality.
ABOUT VEDANTA
Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil and gas. The company produces oil and gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.
Sesa Sterlite Limited (SSLT) formerly known as Sesa Goa Limited, is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Sustainability is at the core of SSLT's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
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. 64.11 |
|
UK Pound |
1 |
Rs. 100.31 |
|
Euro |
1 |
Rs. 72.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--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 |
|
64 |
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.