MIRA INFORM REPORT
|
Report No. : |
328236 |
|
Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN PETROLEUM CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
Petroleum House, 17, Jamshedji Tata Road, Churchgate, Mumbai – 400020,
Maharashtra |
|
Tel. No.: |
91-22-22863900 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
05.07.1992 |
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|
|
|
Com. Reg. No.: |
11-008858 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3390.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L23201MH1952GOI008858 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH07165E |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACH1118B |
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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
: |
Refining and Marketing of Petroleum Products and Exploration and Production of Hydrocarbons. |
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|
|
|
No. of Employees
: |
10858 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (77) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum credit limit : |
USD 460000000 |
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|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established and reputed company owned by the
government of India having a good track record. Financial position of the company seems to be strong. Overall
fundamentals of the company seems to be sound and healthy. Trade relations are reported to be decent. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: “AAA” |
|
Rating Explanation |
Have highest degree of safety and carry
lowest credit risk. |
|
Date |
16.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: “A1+” |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
16.12.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED
MANAGEMENT NON – COOPERATIVE (91-22-22863900)
LOCATIONS
|
Registered / Headquarters
Office : |
Petroleum House, 17 Jamshedji Tata Road, Churchgate, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22026151/ 22863900 |
|
Fax No.: |
91-22-22872992/ 22841573/ 22872992 |
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E-Mail : |
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|
Website : |
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|
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Marketing Headquarters
Offices : |
Hindustan Bhavan, 8, Shoorji Vallabhdas Marg, P. B. No. 155, Ballard
Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22618031/ 22637000/ 2263 |
|
Fax No.: |
91-22-22611822 |
|
|
|
|
Aviation Office : |
2nd Floor, Gresham
Assurance Building, Sir P.M. Road, Po Box N 198, Fort, Mumbai – 400001,
Maharashtra, India |
|
|
|
|
Regional Office (HP Gas) : |
LPG Bottling Plant, P.B. No : 11, Jatni , Kusumati,Jatni,
Khurda - 752050, Orissa, India |
|
Tel. No.: |
91-674-2492912/ 2492505/ 2492912 |
|
|
|
|
Refinery : |
Mumbai Refinery B.D. Patil Marg, Chembur, Mumbai – 400074, Maharashtra, India Visakh Refinery Post Box No. 15, Siripuram Opposite A U Outgate, Vishakhapatnam – 530001, Andhra Pradesh,
India |
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|
|
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Zonal Offices : |
Located at · Kolkata · Delhi · Visakhapatnam · Ahmedabad · Chennai · Mumbai ·
Lucknow ·
Secundarabad |
DIRECTORS
As on : 31.03.2014
|
WHOLE TIME
DIRECTORS : |
|
|
|
|
|
Name : |
Ms. Nishi Vasudeva |
|
Designation : |
Managing Director, (From 01.03.2014) |
|
Date of Birth/Age : |
30.03.1956 |
|
Qualification : |
B.A., PGDBM (IIM Kolkata) |
|
Date of Appointment : |
01.03.2014 |
|
DIN No.: |
03016991 |
|
|
|
|
Name : |
Mr. Pushp Kumar Joshi |
|
Designation : |
Whole Time Director |
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Date of Birth/Age : |
08.08.1964 |
|
Qualification : |
B.A., LLB PG (PM & IR), XLRI, Jamshedpur |
|
Date of Appointment : |
18.09.2012 |
|
DIN No.: |
05323634 |
|
|
|
|
Name : |
Mr. K.V. Rao |
|
Designation : |
Whole Time Director (From 01.06.2013) |
|
Date of Birth/Age : |
03.09.1955 |
|
Qualification : |
B.Com, FCA. |
|
Date of Appointment
: |
05.09.2013 |
|
DIN No.: |
05340626 |
|
|
|
|
Name : |
Mr. B.K. Namdeo |
|
Designation : |
Whole Time Director (From 01.07.2013) |
|
Date of Birth/Age : |
17.10.1956 |
|
Qualification : |
B.E. (Mech) M.Tech (IIT, Mumbai) |
|
Date of Appointment : |
05.09.2013 |
|
DIN No.: |
06620620 |
|
|
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|
EX – OFFICIO PART-
TIME DIRECTORS |
|
|
|
|
|
Name : |
Dr. S C Khuntia |
|
Designation : |
Director |
|
Date of Birth/Age : |
21.11.1957 |
|
Qualification : |
IAS Post Graduate in Physics, Economics, Sociology and Ph.D in Art Economics |
|
Date of Appointment : |
18.09.2012 |
|
DIN No.: |
05344972 |
|
|
|
|
Name : |
Mr. R.K. Singh |
|
Designation : |
Director (From 26.06.2013) |
|
Date of Birth/Age : |
24.11.1964 |
|
Qualification : |
B.A. (Eco), IAS |
|
Date of Appointment : |
05.09.2013 |
|
DIN No.: |
05193269 |
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|
|
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NON OFFICIAL PART
TIME DIRECTOR |
|
|
|
|
|
Name : |
Dr. Gitesh K Shah |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.10.1961 |
|
Qualification : |
D.Sc. (Organic Chemistry) USA Ph.D. (Organic Chemistry) Gujarat University M.Sc. (Organic Chemistry) Gujarat University |
|
Date of Appointment : |
07.12.2009 |
|
DIN No.: |
02330569 |
KEY EXECUTIVES
|
Name : |
Mr. Shrikant M Bhosekar |
|
Designation : |
Company
Secretary |
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|
|
|
Senior Management
Team : |
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|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
As a % of (A+B+C) |
||
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
173076750 |
51.11 |
|
|
173076750 |
51.11 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
173076750 |
51.11 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
30927733 |
9.13 |
|
|
24436126 |
7.22 |
|
|
62589455 |
18.48 |
|
|
293520 |
0.09 |
|
|
293520 |
0.09 |
|
|
118246834 |
34.92 |
|
|
|
|
|
|
18421563 |
5.44 |
|
|
|
|
|
|
16206258 |
4.79 |
|
|
10363650 |
3.06 |
|
|
2312195 |
0.68 |
|
|
2830 |
0.00 |
|
|
146840 |
0.04 |
|
|
53614 |
0.02 |
|
|
1093114 |
0.32 |
|
|
237230 |
0.07 |
|
|
100 |
0.00 |
|
|
756430 |
0.22 |
|
|
22037 |
0.01 |
|
|
47303666 |
13.97 |
|
Total Public shareholding (B) |
165550500 |
48.89 |
|
Total (A)+(B) |
338627250 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
338627250 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Refining and Marketing of Petroleum Products and Exploration and Production of Hydrocarbons. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
10858 (Approximately) |
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Bankers : |
· Bank of Baroda · Bank of India · Citibank N.A. · Corporation Bank · HDFC Bank Limited · ICICI Bank Limited · Punjab National Bank · Standard Chartered Bank · State Bank of India ·
Union Bank of India |
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8Facilities : |
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Banking
Relations : |
-- |
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Statutory Auditors Name : |
B. K. Khare and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Cost Auditors Name : |
R. Nanabhoy and Company Cost Accountant |
|
Address : |
Jer Mansion, 1st Floor, 70, August Kranti Marg, Mumbai - 400036, Maharashtra, India |
|
|
|
|
Cost Auditors Name : |
CMA Rohit J. Vora Cost Accountant |
|
Address : |
1103, Raj Sunflower, Royal Complex, Eksar Road, Borivali West, Mumbai - 400092, Maharashtra, India |
|
Statutory Auditors Name : |
B. K. Khare and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
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|
|
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Auditors Name : |
CVK Associates Chartered Accountant |
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|
|
|
Branch Auditor :
|
Sriramamurthy and Company Chartered Accountant |
|
Address : |
Vishakhapatnam, India |
|
|
|
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Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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Joint Venture
Companies (AS on 31.03.2014): |
· Mangalore Refinery and Petrochemicals Limited · Petronet MHB Limited · Bhagyanagar Gas Limited · GSPL India Gasnet Limited (w.e.f 04-07-2012) · GSPL India Transco Limited (w.e.f 04-07-2012) · HPCL-Mittal Energy Limited · Hindustan Colas Limited · South Asia LPG Company Private Limited. · Petronet India Limited · Aavantika Gas Limited · HPCL Shapoorji Energy Limited (w.e.f 27-03-2014) |
|
|
|
|
Subsidiaries (As on
31.03.2014): |
· CREDA-HPCL Biofuels Limited · HPCL Biofuels Limited · Prize Petroleum Company Limited (w.e.f. 19-12-2011) · HPCL Rajasthan Refinery Limited (w.e.f.25.03.2014) |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
Not Available
Issued, Subscribed & Paid-up Capital : 3390.100 Million
After 05.09.2014
Authorised Capital : Rs. 3500.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 3386.272
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000 |
Cumulative Redeemable Preference Shares of Rs 100 each |
Rs.100/- each |
Rs. 7.500 Million |
|
349250000 |
Equity Shares of Rs 10 each |
Rs.10/- each |
Rs. 3492.500 Million |
|
|
Total |
|
Rs. 3500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
339330000 |
Equity Shares of Rs 10 each |
Rs.10/- each |
Rs. 3393.300 Million |
|
Less : 702750 |
Shares Forfeited |
|
Rs. 7.000 Million |
|
338627250 |
Equity Shares of Rs 10 each |
Rs.10/- each |
Rs. 3386.300 Million |
|
Add : |
Shares Forfeited (money received) |
|
Rs. 3.900 Million |
|
|
Total |
|
Rs. 3390.100
Million |
Details of shares held by each shareholder holding more than 5% shares
in the Company
|
|
31.03.2014 |
|
|
Name of shareholder |
% Holding |
No. of Shares |
|
President of India |
51.11 |
173076750 |
|
Life Insurance Corporation of India |
9.85 |
33359022 |
Right and Restrictions on Equity Shares
The Company has only
one class of Equity Shares having a face value of Rs 10/- per share which are
issued and subscribed. Each Shareholder is eligible for one vote per share
held. 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. In the event of the winding up of the Company, the
holders of equity shares will be entitled to receive the remaining assets of
the Company in proportion to the number of equity shares held by the
shareholders and the amount paid up thereon. The Company also has 75,000 6%
cumulative Redeemable Non-convertible Preference Shares of Rs 100 /- each as a
part of the Authorised Capital , which were issued earlier by the erstwhile
ESRC. Presently the said Preference Shares stand redeemed.
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 |
3390.100 |
3390.100 |
3390.100 |
|
(b) Reserves & Surplus |
156830.800 |
146731.500 |
133873.900 |
|
(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) |
160220.900 |
150121.600 |
137264.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
148558.300 |
155548.800 |
89471.800 |
|
(b) Deferred tax liabilities
(Net) |
41036.000 |
39084.300 |
35983.500 |
|
(c) Other long term
liabilities |
82923.500 |
72077.000 |
62111.900 |
|
(d) long-term provisions |
5814.700 |
5876.600 |
4989.600 |
|
Total
Non-current Liabilities (3) |
278332.500 |
272586.700 |
192556.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
21998.100 |
163751.700 |
235105.400 |
|
(b) Trade payables |
89356.500 |
106513.900 |
110719.800 |
|
(c) Other current liabilities |
101623.200 |
65387.200 |
68795.900 |
|
(d) Short-term provisions |
23975.200 |
17419.800 |
18005.400 |
|
Total
Current Liabilities (4) |
236953.000 |
353072.600 |
432626.500 |
|
|
|
|
|
|
TOTAL |
675506.400 |
775780.900 |
762447.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
325372.300 |
257971.900 |
224416.700 |
|
(ii) Intangible Assets |
0.000 |
1150.500 |
1070.300 |
|
(iii) Capital work-in-progress |
0.000 |
45855.600 |
51728.700 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
58675.200 |
57358.300 |
82660.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14298.600 |
14614.200 |
19377.000 |
|
(e) Other Non-current assets |
1165.500 |
1462.600 |
887.500 |
|
Total
Non-Current Assets |
399511.600 |
378413.100 |
380140.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
53739.600 |
51240.400 |
23608.600 |
|
(b) Inventories |
129722.600 |
187754.100 |
164387.000 |
|
(c) Trade receivables |
36030.500 |
54659.500 |
49350.400 |
|
(d) Cash and cash equivalents |
170.700 |
347.100 |
1471.300 |
|
(e) Short-term loans and
advances |
53065.200 |
100079.000 |
140829.100 |
|
(f) Other current assets |
3266.200 |
3287.700 |
2660.000 |
|
Total
Current Assets |
275994.800 |
397367.800 |
382306.400 |
|
|
|
|
|
|
TOTAL |
675506.400 |
775780.900 |
762447.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
2063803.800 |
2230366.700 |
2065203.000 |
|
|
Other Operating Revenue |
2458.100 |
2346.600 |
2019.200 |
|
|
Other Income |
11684.100 |
9744.500 |
11023.600 |
|
|
TOTAL
(A) |
2077946.000 |
2242457.800 |
2078245.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
561584.400 |
619624.900 |
631826.100 |
|
|
Purchases of Stock-in-Trade |
1292783.600 |
1451379.500 |
1281639.400 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
37494.400 |
(5744.300) |
8094.500 |
|
|
Employees benefits expense |
24146.600 |
20303.000 |
25255.600 |
|
|
Packages Consumed |
0.000 |
2132.000 |
1831.200 |
|
|
Excise Duty on Inventory
Differential |
0.000 |
265.600 |
(2275.400) |
|
|
Transshipping Expenses |
0.000 |
46393.100 |
37854.300 |
|
|
Exploration Expenses |
0.000 |
2039.700 |
548.100 |
|
|
Prior Period Expenses |
0.000 |
583.700 |
(1133.900) |
|
|
Other expenses |
93618.400 |
43942.500 |
45897.100 |
|
|
TOTAL
(B) |
2009627.400 |
2180919.700 |
2029537.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
68318.600 |
61538.100 |
48708.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7065.900 |
13363.600 |
14128.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
61252.700 |
48174.500 |
34580.800 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
19711.500 |
22019.400 |
19835.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
41541.200 |
26155.100 |
14745.600 |
|
|
|
|
|
|
|
Less |
TAX (H) |
14208.600 |
8817.400 |
5698.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
27332.600 |
17337.700 |
9047.100 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
42310.300 |
64168.200 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
62681.800 |
90740.800 |
|
|
Components and Stores parts |
NA |
1486.400 |
1714.700 |
|
|
TOTAL
IMPORTS |
NA |
64168.200 |
92455.500 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
80.72 |
51.20 |
26.72 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
6879.500 |
25444.500 |
|
Cash generated from operations |
NA |
80968.600 |
10027.200 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.32 |
0.78 |
0.44 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.31 |
2.76 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.73 |
3.89 |
2.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.17 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.06 |
2.17 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.13 |
0.88 |
STOCK
PRICES
|
Face Value |
Rs. 10/- |
|
Market Value |
Rs. 732.80/- |
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 |
3390.100 |
3390.100 |
3390.100 |
|
Reserves & Surplus |
133873.900 |
146731.500 |
156830.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
137264.000 |
150121.600 |
160220.900 |
|
|
|
|
|
|
long-term borrowings |
89471.800 |
155548.800 |
148558.300 |
|
Short term borrowings |
235105.400 |
163751.700 |
21998.100 |
|
Total
borrowings |
324577.200 |
319300.500 |
170556.400 |
|
Debt/Equity
ratio |
2.365 |
2.127 |
1.065 |
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 |
2065203.000 |
2230366.700 |
2063803.800 |
|
|
|
7.997 |
(7.468) |
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 |
2065203.000 |
2230366.700 |
2063803.800 |
|
Profit |
9047.100 |
17337.700 |
27332.600 |
|
|
0.44% |
0.78% |
1.32% |
LOCAL AGENCY FURTHER INFORMATION
|
|
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION
DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE :- 03/04/2014 |
|
Lodging No: NMSL/763/2014 Filing Date: 03/04/2014 Reg. No.: NMS/492/2014 Reg. Date: 07/04/2014 |
|
MAIN MATTER Lodging No.: ARBPL/598/2014 |
|
Petitioner: M/S.
NORTH INDIA WIRES LTD -
Respondent: M/S.
HINDUSTAN PETROLEUM CORPORATION LIMITED Petn. Adv : M/S. MANSUKHLAL HIRALAL HIRALAL & CO District: OUTSIDE MAHARASHTRA Resp. Adv.:-
SHIVPRASAD RAMCHANDRA PAGE (R-1) (0) |
|
Bench: SINGLE Status: Pre-Admission Category: NOTICE OF
MOTION Last Date: 17/04/2014 Stage: Last Coram: ACCORDING TO SITTING LIST |
|
Act: Arbitration and Conciliation Act 1996
|
REFINERY
PERFORMANCE (As on 31.03.2014)
During the year,
the refineries processed a combined crude thruput of 15.51 MMT (15.78 MMT in
2012-13) with a capacity utilization of 105% of the installed capacity of 14.80
MMT.
The Combined distillate
yield of 74.2% was realized by processing High Sulphur / Low Sulphur crude in
the ratio of 59:41. The Overall MOU Rating for the refineries for parameters
Viz. Crude throughput, Distillate yields, Specific Energy Consumption,
Projects, Sustainable development, HSE and R&D stands at “Very Good” level.
Refineries have
achieved best ever production in MS (2,676 TMT) and LOBS (386 TMT).
Gross refining
margins of Mumbai Refinery averaged at US $ 5.38 per barrel as against US $
2.08 per barrel for the year 2012-13. Gross refining margins of Visakh Refinery
averaged at US $ 1.50 per barrel as against US $ 2.08 per barrel for the year
2012-13.
The Refineries
strive to utilize every opportunity to effectively address capacity
augmentation/yield improvement. Accordingly, Mumbai refinery has augmented
Propane DeAsphalting (PDA) unit capacity resulting in enhanced Lube Base oil
production and thereby improving distillate yields. Visakh Refinery has carried
out augmentation jobs for Propylene Recovery Unit (PRU), commissioned chiller
package and started using bottom cracker additive Fluidized Catalyst Cracking
(FCC) unit, which resulted in reduced production of heavy ends. These efforts
have resulted in the yield improvement at Visakh Refinery
Mumbai Refinery
The year 2013-14
has been remarkable for Mumbai Refinery with the crude throughput of 7.74 MMT
as against installed capacity of 6.50 MMT with capacity utilization of 119%. It
has achieved 73.5% Distillate yields and the corresponding Fuel & loss was 6.9%
for the year.
Refinery recorded
best ever production of HSD EURO III (2166 TMT), RPO (146 TMT) and LOBS (386
TMT) production through effective utilization of assets during 2013-14.
Visakh Refinery
Visakh Refinery
achieved crude thruput of 7.77 MMT as against installed capacity of 8.30 MMT
with capacity utilization of 85%. It has achieved 74.8 % Distillate yields and
the corresponding Fuel & loss was 7.6% for the year.
The refinery
recorded best ever production of LPG (423 TMT) and BS III MS (1100 TMT) during
2013-14.
The particulars
with respect to Conservation of Energy, Technology Absorption, Foreign Exchange
Earning & Outgo are detailed in Annexure I.
The particulars relating to control of Pollution and other initiatives
by Refineries are listed in Annexure II of Directors’ Report.
MARKETING
PERFORMANCE (As on 31.03.2014)
During the year
2013-14 the Corporation has achieved sales volume (including exports) of 30.96
Million Tonnes as against 30.32 Million Tonnes recorded in 2012-13. HPCL
recorded a growth of 4.1% in domestic Sales over the sales volume of the
previous year, and amongst public sector oil companies increased its market
share to 20.90% as on 31st March, 2014 from 20.19% recorded in the previous
year.
During the year,
the Corporation commissioned 723 new Retail Outlets, which include 223 retail
outlets in the rural areas taking the total tally to 12,869 Retail Outlets. The
Corporation achieved a sales volume of 21.3 Million Tonnes and increased its
market share in MS and HSD (combined) by 0.15%.
In the LPG
business line, the Corporation achieved a sales volume of 4.205 Million Tonnes
and enrolled 39.15 Lakhs new HP Gas customers taking their total to 432 lakhs
as on 31st March, 2014. In order to provide LPG to rural India, the Corporation
commissioned 219 distributors under the Rajiv Gandhi Gramin LPG Vitaran Yojana.
The Corporation also commissioned 95 Regular LPG distributors.
The Direct Sales
Business line comprises of Industrial & Commercial (I & C) and Lubes
& Greases. The Corporation achieved a sales volume of 3.866 Million Tonnes
in the I and C segment recording a market share gain of 1.79% (among PSUs). In
the Lubes and Greases segment the sales recorded was 485 TMT with a growth of
15.3% and market share gain of 4.15%. In the Aviation Business line, the
Corporation achieved sales volume of 445 TMT during the year.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT (As on 31.03.2014)
DEVELOPMENTS IN
THE ECONOMY AND THE OIL SECTOR
Indian economy
fared marginally better in 2013-14. The Gross Domestic Product (GDP) increased
by 4.7% in 2013-14 compared to 4.5% in 2012-13. As against 1.4% in 2012-13,
agriculture sector growth in 2013-14 was very good at 4.7%. Industrial growth
remained stagnant. For the second consecutive year, GDP growth in the industry
sector was less than 1%. Manufacturing and mining GDP respectively declined by
0.7% and 1.4%. Services sector growth in 2013-14 was 6.8%, marginally less than
last year’s growth of 7%. The growth in GDP for the trade, hotels and transport
and communication sectors during 2013-14 was 3% as against 5.1% in the previous
year. As compared to 2012-13, growth in other services sector was better in
2013-14.
At around United
States Dollar (US$) 107 per barrel, average crude price in 2013-14 was slightly
lower than 2012-13 average of US$ 110 per barrel. However, benchmark prices
were higher when denominated in Indian Rupee due to depreciation of rupee. With
the United States (US) Fed signaling tapering of Quantitative Easing (QE) in
May 2013, money rushed out of emerging economies, including India. Capital
outflows amid a large Current Account Deficit (CAD) caused rupee to depreciate
sharply against US dollar, from 55 per US$ on May 22, 2013 to 68 per US$ on
August 28, 2013. A slew of measures by Reserve Bank of India (RBI) with respect
to the policy rate, liquidity and forex swap facilities helped build up
reserves during September to November 2013. Depreciation of rupee helped
exports while moderation of imports lowered trade deficit. India’s trade
deficit at US$ 147.6 billion during 2013-14 was about 25% lower than that of
US$ 195.7 billion during 2012-13. CAD to GDP ratio, which had reached 4.8% in
2012-13, narrowed to 1.7% in 2013-14. With revival of capital flows and lower
CAD, concerns about the financing of CAD eased during second half of 2013-14.
The Rupee stabilized and moved in a narrow range of 60-63 per US$ between
November 2013 and March 2014.
In January 2013,
Oil Marketing Companies (OMCs) were authorized to increase diesel prices in
small increments at regular intervals. Periodic increase in fuel prices did
lead to some decline in under-recoveries of OMCs. Under-recoveries on diesel
sales at Rs. 6283.700 Million were lower in 2013-14 compared to Rs. 9206.100
Million in 2012-13. Under-recoveries on Superior Kerosene Oil (SKO) and Liquid
Petroleum Gas (LPG) sales in 2013-14 were higher than that of 2012-13. As
against Rs. 16102.900 Million under-recoveries incurred by OMCs in 2012-13,
total under-recoveries on sales of diesel, kerosene and LPG in 2013-14 were Rs.
13986.900 Million.
Sluggish economic
activity coupled with sector specific factors led to only a marginal increase
in the consumption of petroleum products in 2013-14. Total petroleum product
consumption was about 160 million metric tonnes (MMT) in 2013-14 compared to
157 MMT in 2012-13. Major increase was in the consumption of petrol, LPG and
petcoke. Petrol consumption increased by about 1.4 MMT in 2013-14, recording an
increase of about 9% over 2012-13 level. Year-on-Year (y-o-y) growth in LPG
consumption was about 5% in 2013-14 translating into incremental volume of 0.7
MMT. With y-o-y growth of 15%, incremental consumption of petcoke in 2013-14
was about 1.5 MMT. Increase in consumption of these products was offset by
decline in consumption of fuel oil, naphtha and diesel. Fuel oil consumption
declined by about 1.5 MMT in 2013-14, a y-o-y fall of about 19%. Naphtha
consumption fell by about 0.8 MMT, declining by about 7% over 2012-13 level.
Switchover to natural gas by major consumers accounts for most of the decline
in consumption of both products. Diesel consumption declined for the first time
since 2001-02 and recorded a drop of 0.7 MMT with y-o-y fall of 1%.
PERFORMANCE
PROFILE (As on 31.03.2014)
The Corporation
has secured ‘Excellent’ rating in terms of the Memorandum of Understanding
(MOU) signed with the Government of India for the year 2012-13 with an MOU
score of 1.034. This is the best score amongst all the Public Sector
Undertakings (PSUs) under Ministry of Petroleum & Natural Gas (MOP&NG)
for the second consecutive year. The performance for the year 2013-14 is
discussed below:
Gross Sales
The Gross Sales of
the Corporation (inclusive of excise duty) for the year ended 31st March, 2014
was Rs. 2321880.000 Million as compared
to Rs. 2156660.000 Million in the previous year. The total sale of products
(including exports) for 2013-14 was 30.96 MMT as against 30.32 MMT during
2012-13.
Profit before Tax
The Corporation
has earned a Profit before Tax of Rs. 26160.000 Million in 2013-14 as compared
to Rs. 14750.000 Million in 2012-13.
CORPORATE
GOVERNANCE (As on 31.03.2014)
A separate segment
on Corporate Governance forms part of this Annual Report. However, it would be relevant
to point out here that the Corporation is giving utmost importance to
compliance with Corporate Governance requirements including compliance of
regulations, transparent management processes, and adherence to both internal
and external value norms and has implemented a robust grievance redressal
mechanism.
OUTLOOK (As on
31.03.2014)
The economic
growth is expected to improve in the year 2014-15. While structural impediments
to growth are being addressed, the impact will be gradual. Reduction in CAD and
fiscal deficit has reduced the risk of stress in the Indian economy. External
demand is expected to improve as global economic prospects have brightened and
are expected to improve further during
2014-15. The
growth in the world economy is likely to be led by the advanced economies,
especially the US. Emerging markets, however, are facing slower medium term
growth prospects. In this environment, the GDP growth in the country is
expected to be in the range of 5.4% to 5.9% during 2014-15. Downside risks
emanate from scanty monsoon and its impact on agriculture growth. CPI inflation
in recent past has tended to be high due to high and volatile food prices. Any
adverse outcome on monsoon will, therefore, increase inflationary pressures and
reduce monetary policy options to revive growth.
Slower growth
prospects in emerging markets and Europe could also drag recovery by impacting
exports. Oil prices have averaged more than US$ 100 per barrel for last three
years. Rising US oil supply and slowing emerging market growth suggest slightly
declining to flat oil prices this year. However, loss of supply due to turmoil
in the Middle East and North Africa could lead
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term Loan from Oil Industry Development Board (b) |
|
4630.000 |
|
Syndicated Loans from Foreign Banks (repayable in foreign currency) (c) |
|
75798.800 |
|
Syndicated Working Capital Loans from Foreign Banks (repayable in foreign currency) (c) |
|
59920.000 |
|
|
NA |
|
|
Short-term
borrowings |
|
|
|
Short Term Loans from Banks (repayable in foreign currency) |
|
130326.000 |
|
Clean Loans from Banks |
|
0.000 |
|
Commercial Papers |
|
6000.000 |
|
Total |
NA |
276674.800 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10503036 |
11/04/2014 |
1,200,000,000.00 |
OIL INDUSTRY DEVELOPMENT BOARD |
301, WORLD TRADE CENTRE, 3RD FLOOR, BABAR ROAD, |
C06664536 |
|
2 |
10501126 |
11/10/2013 |
1,380,000,000.00 |
OIL INDUSTRY DEVELOPMENT BOARD |
301, WORLD TRADE CENTRE, 3RD FLOOR, BABAR ROAD, |
C05660931 |
|
3 |
10424270 |
04/05/2013 |
9,750,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,MUMBAI,
Maharashtra - 400001, INDIA |
B74594912 |
|
4 |
10401108 |
01/02/2013 |
5,450,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate,,
Mumbai, Maharashtra - 400001, INDIA |
B67275198 |
|
5 |
90238781 |
16/01/2008 * |
40,000,000,000.00 |
State Bank of India |
Corporate Accounts Group, IIIrd Floor,, Nariman Point,, Mumbai,
Maharashtra - 400016, INDIA |
A30866602 |
CONTINGENT
LIABILITIES:
(Rs. in Million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
following disputed demands/claims since they are subject to appeals/ representations filed by the Corporation |
|
|
|
Income Tax |
|
758.000 |
|
Sales Tax/Octroi |
|
44198.100 |
|
Excise/Customs |
|
4245.700 |
|
Land Rentals & Licence Fees |
|
2244.500 |
|
Others |
|
1341.600 |
|
|
|
52788.000 |
the Corporation |
NA |
|
|
Sales Tax/Octroi |
|
73.300 |
|
Excise/Customs |
|
341.100 |
|
Employee Benefits/Demands (to the extent quantifiable) |
|
3673.400 |
|
Claims against the Corporation not acknowledged as Debts |
|
2754.900 |
|
Others |
|
2868.400 |
|
|
792.700 |
|
Total |
NA |
792.700 |
FIXED ASSETS
v
Tangible
Assets
· Land – Freehold
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Transport Equipment
· Office Equipment
· Roads and Culverts
· Leasehold Property – Land
· Railway Siding and Rolling Stock
· Unallocated Capital Expenditure on Land Development
v
Intangible
Assets
· Rights of Way
· Technical/ Process Licenses
· Software
Press Release
HPCL Q3
(FY-2014-15) RESULTS
Mumbai, 13th Feb 2015
Hindustan
Petroleum Corporation Limited has registered gross sales of Rs. 1684.220 Million
for the period April – December, 2014. The market sales of petroleum products
have increased to 23.76 million tones registering a growth of about 3.7% over
the period April – December, 2013. The sales of Petrol increased by 9.5%, LPG
by 12.2% and that of ATF by 15.1%, over the corresponding period of previous
year.
The
refineries at Mumbai and Visakh processed 11.73 million tones of crude during
April - December, 2014 as against 11.17 million tones during April - December,
2013. The combined GRM during April – December, 2014 was $ 1.04 per barrel.
On
the financial front, the Corporation reported a profit after tax of Rs. 57.100
Million for the period April – December, 2014 as compared to a loss of Rs.
287.500 Million during the corresponding period last year. For the period
October - December, 2014, there was a loss of Rs. 32.500 Million as compared to
a loss of Rs. 173.400 Million in the same period last year. During this
quarter, there was a significant drop in the international crude and product prices
in the international markets (Indian crude basket fell from 94 $/bbl in the
beginning of the quarter to 54 $/bbl at the end of the quarter), resulting in
inventory losses for the Corporation.
A
major milestone during the quarter was the commissioning of DHT unit at Visakh
refinery for producing Euro IV specifications Diesel.
During
this period, HPCL commissioned a new Depot at Kadapa in Andhra Pradesh with
Tankage of 34,000 KL. The new depot having the single spur Tank Wagon siding
and 18 bays Road Loading gantry, provides unconstrained Rail/Road facilities
making Kadapa depot a good supply Gateway for feeding customers of southern
region of country. During the quarter, HPCL has also commissioned additional
product tankage of 54000 KL at Ghatkesar in Andhra Pradesh and also
commissioned petrol and Diesel tankages at Ajmer to strengthen its supply and
distribution infrastructure in various parts of country.
Awa
Salawas cross country pipeline project (93 Km long) and modernization project
of Jodhpur depot have achieved mechanical completion. Rewari Kanpur cross
country (440Km long) pipeline is progressing on schedule.
HPCL has successfully implemented the
Phase 1 of Direct Benefit Transfer for LPG (DBTL) Scheme PAHAL (Pratyaksh
Hanstantrit Labh) of Government of India in 54 districts on November 15, 2014.
As of December 2014, a total of 197 lakh consumers which is 50.34% of total
HPGAS consumers were made to come under the PAHAL Scheme. HPCL was the first
Oil Company to achieve this feet and we continue to maintain the leadership
position in this regard.
HPCL
has also received various awards during the current financial year, some of
which are listed below –
- ‘Indira Gandhi Rajbhasha Puraskar’ for
official language implementation, for 7th consecutive year. This award was
presented by the President of India to our C and MD. >li>National
Award for Excellence in Cost Management-2013 under the category of ‘Public
Manufacturing : Organisation (Large)’ from the Institute of Cost
Accountants of India (ICAI)
- OISD award to
Vizag-Vijaywada-Secunderabad Pipe line (VVSPL) for Cross Country Pipelines
Product Category
- OISD Award to Operation &
Distribution SBU ,South Zone for Best Safety Practices in POL Marketing
- 'National Energy Conservation Award
(First prize)' to Mumbai Refinery in the Refinery Sector for the year
2014.
- 2nd prize to Mumbai Refinery for
“Furnace/boiler Efficiency” by Ministry of Petroleum and Natural Gas (MoP
and NG) and Centre for High Technology (CHT)
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. 63.82 |
|
|
1 |
Rs. 101.26 |
|
Euro |
1 |
Rs. 72.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
9 |
|
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 |
|
77 |
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.