MIRA INFORM REPORT

 

 

Report No. :

312870

Report Date :

16.03.2015

 

IDENTIFICATION DETAILS

 

Name :

BAJAJ HINDUSTHAN SUGAR LIMITED

 

 

Formerly Known As :

BAJAJ HINDUSTHAN LIMITED

 

 

Registered Office :

Golagokaranath, Lakhimpur Kheri – 262802, Uttar Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

24.11.1931

 

 

Com. Reg. No.:

20-065243 (New)

11-001797 (Old)

 

 

Capital Investment / Paid-up Capital :

Rs.639.400 Million

 

 

CIN No.:

[Company Identification No.]

L15420UP1931PLC065243 (New)

L15420MH1931PLC001797 (Old)

 

 

TIN No.:

Not Available

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMB11307C

 

 

PAN No.:

[Permanent Account No.]

AAACB4351J

 

 

Legal Form :

A Public Limited Liability Company.  The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company is engaged in the manufacture of sugar, alcohol and generation overpower.

 

 

No. of Employees :

Information denied by management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (33)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The company has incurred loss from its operations during 2014.

 

However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealings with some caution.

 

Note: The company has changed its financial year from 30th September to 31st March from 12 months to 18 months ranging from 01.10.2012 to 31.03.2014.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities = BB

Rating Explanation

Have moderate risk of default

Date

16.10.2014

 

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities = A4

Rating Explanation

Have minimal degree of safety and carry very high credit risk.

Date

16.10.2014

 

 

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 31-03-2014.

 

 

INFORMATION DENIED

 

Management Non Co-Operative (Tel No.: 91-11-22023626)

 

 

LOCATIONS

 

Registered Office :

Golagokaranath, Lakhimpur Kheri – 262802, Uttar Pradesh, India

Tel. No.:

91-5876-233754 / 5 / 7 / 8 / 233403

Fax No.:

91-5876-233401

E-Mail :

shares@bajajhindusthan.com

pparakh@bajajhindusthan.com

Website :

http://www.bajajhindusthan.com

 

 

Corporate Office :

Bajaj Bhawan, B-10, Sector 3, Jamnalal Bajaj Marg, Noida - 201 301, NCR Delhi, India

Tel. No.:

91-120-2543939 / 40, 2543942-48, 4045555

Fax No.:

91-120-2543949

 

 

Regional Offices :

B-2/355, Vishal Khand – 2, Gomti Nagar, Lucknow - 226 010, Uttar Pradesh, India

Tel. No.:

91-522-2303712 / 2396529

Fax No.:

91-522-2396489

 

 

Factory :

Sugar Mills

 

  • Golagokarannath, District Lakhimpur Kheri, Uttar Pradesh, India
  • Palia Kalan, District Lakhimpur Kheri, Uttar Pradesh, India
  • Kinauni, District Meerut, Uttar Pradesh, India
  • Thanabhawan, District Muzaffarnagar, Uttar Pradesh, India
  • Budhana, District Muzaffarnagar, Uttar Pradesh, India
  • Bilai, District Bijnor, Uttar Pradesh, India
  • Barkhera, District Pilibhit, Uttar Pradesh, India
  • Khambarkhera, District Lakhimpur Kheri, Uttar Pradesh, India
  • Gangnauli, District Saharanpur, Uttar Pradesh, India
  • Maqsoodapur, District Shahjahanpur, Uttar Pradesh, India
  • Pratappur, District Deoria, Uttar Pradesh, India
  • Rudauli, District Basti, Uttar Pradesh, India
  • Utraula, District Balrampur, Uttar Pradesh, India
  • Kundarkhi, District Gonda, Uttar Pradesh, India

 

Distillery

  • Golagokarannath, District Lakhimpur Kheri, Uttar Pradesh, India
  • Palia Kalan, District Lakhimpur Kheri, Uttar Pradesh, India
  • Kinauni, District Meerut, Uttar Pradesh, India
  • Khambarkhera, District Lakhimpur Kheri, Uttar Pradesh, India
  • Gangnauli, District Saharanpur, Uttar Pradesh, India
  • Rudauli, District Basti, Uttar Pradesh, India

 

Co-Generation

  • Golagokarannath, District Lakhimpur Kheri, Uttar Pradesh, India
  • Palia Kalan, District Lakhimpur Kheri, Uttar Pradesh, India
  • Kinauni, District Meerut, Uttar Pradesh, India
  • Thanabhawan, District Muzaffarnagar, Uttar Pradesh, India
  • Budhana, District Muzaffarnagar, Uttar Pradesh, India
  • Bilai, District Bijnor, Uttar Pradesh, India
  • Barkhera, District Pilibhit, Uttar Pradesh, India
  • Khambarkhera, District Lakhimpur Kheri, Uttar Pradesh, India
  • Gangnauli, District Saharanpur, Uttar Pradesh, India
  • Maqsoodapur, District Shahjahanpur, Uttar Pradesh, India
  • Pratappur, District Deoria, Uttar Pradesh, India
  • Rudauli, District Basti, Uttar Pradesh, India
  • Utraula, District Balrampur, Uttar Pradesh, India
  • Kundarkhi, District Gonda, Uttar Pradesh, India

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Mr. Shishir Bajaj

Designation :

Chairman and Managing Director (Promoter)

DIN No.:

00017612

 

 

Name :

Mr. Kushagra Bajaj

Designation :

Vice Chairman and Joint Managing Director (Promoter)

DIN No.:

00017575

 

 

Name :

Mr. D. S. Mehta

Designation :

Non-Executive Director (Independent)

DIN No.:

00038366

 

 

Name :

Mr. M. L. Apte

Designation :

Non-Executive Director (Independent)

DIN No.:

00003656

 

 

Name :

Mr. R. V. Ruia

Designation :

Non-Executive Director (Independent)

DIN No.:

00035853

 

 

Name :

Mr. D. K. Shukla

Designation :

Non-Executive Director (Independent)

DIN No.:

00025409

 

 

Name :

Mr. Alok Krishna Agarwal

Designation :

Non-Executive Director (Independent)

DIN No.:

00127273

 

 

Name :

Dr. Sanjeev Kumar

Designation :

Director (Corporate and Legal Affairs)

DIN No.:

00364416

 

 

Name :

Mr. Manoj Maheshwar

Designation :

Director and Group CFO (w.e.f. October 01, 2012)

 

 

Name :

Mr. Ashok Kumar Gupta

Designation :

Director (Group Operations) (w.e.f. October 01, 2012)

 

 

KEY EXECUTIVES

 

Name :

Mr. Pradeep Parakh

Designation :

Group President (GRC) and Company Secretary

 

SHAREHOLDING PATTERN

 

As on 31.12.2014

 

Category of Shareholder

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

29654338

4.64

http://www.bseindia.com/include/images/clear.gifBodies Corporate

191343955

29.94

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

73932473

11.57

http://www.bseindia.com/include/images/clear.gifTrusts

73932473

11.57

http://www.bseindia.com/include/images/clear.gifSub Total

294930766

46.16

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

294930766

46.16

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

9938

0.00

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

48368794

7.57

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

4500

0.00

http://www.bseindia.com/include/images/clear.gifInsurance Companies

43165896

6.76

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

13336759

2.09

http://www.bseindia.com/include/images/clear.gifSub Total

104885887

16.41

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

51361478

8.04

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital up to Rs.0.100 million

125209490

19.59

http://www.bseindia.com/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs.0.100 million

25259811

3.95

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

37352479

5.85

http://www.bseindia.com/include/images/clear.gifTrusts

33817400

5.29

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

191650

0.03

http://www.bseindia.com/include/images/clear.gifNRIs/OCBs

3343429

0.52

http://www.bseindia.com/include/images/clear.gifSub Total

239183258

37.43

Total Public shareholding (B)

344069145

53.84

Total (A)+(B)

638999911

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

400000

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

400000

0.00

Total (A)+(B)+(C)

639399911

100.00

 

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

Name of Shareholder

No. of Shares

Percentage of Holding

Shishirkumar Bajaj

83,96341

1.31

Kushagra Bajaj

12897036

2.02

Minakshi Bajaj

4254556

0.67

Apoorva Bajaj

231751

0.04

Shishir Bajaj (As Karta of Shishir Bajaj HUF)

3874654

0.61

Shishir Bajaj Minakshi Bajaj and Kaushagra Bajaj ( As Trustee of Kushagra Trust No 2)

60623

0.01

Shishir Bajaj Minakshi Bajaj and Kushagra Bajaj ( As Trustees of Shishir Bajaj Family Trust)

64948632

10.16

Shishirkumar Bajaj and Kushagra Bajaj ( As Trustees of Bajaj Hindusthan Limited Employeees General Medical Aid Fund)

2078120

0.33

Shishirkumar Bajaj and Kushagra Bajaj ( As Trustees of Bajaj Hindusthan Limited Employees Family Planning Welfare Fund)

1753100

0.27

Shishirkumar Bajaj and Kushagra Bajaj ( As Trustees of Bajaj Hindusthan Limited Employees Sports and Cultural Activities Welfare Fund)

1743600

0.27

Shishirkumar Bajaj and Kushagra Bajaj ( As Trustees of Bajaj Hindusthan Limited Managerial Staff Medical Aid Fund)

1739100

0.27

Shishirkumar Bajaj and Kushagra Bajaj ( As Trustees of Bajaj Hindusthan Limited Employees Education Welfare Fund

1609298

0.25

Bajaj Capital Ventures Private Limited

2247142

0.35

Bajaj Resources Limited

81944455

12.82

A N Bajaj Enterprises Private Limited

18307954

2.86

KNB Enterprises Private Limited

110

0.00

SKB Roop Commercial LLP

110

0.00

Global World Power Projects Private Limited

41111121

6.43

Bajaj Inter Realty Private Limited

27777484

4.34

Bajaj Infrastructure Development Company Limited

19955469

3.12

Bajaj Power Ventures Private Limited

110

0.00

Total

294930766

46.13

(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.

 

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

 

Name of Shareholder

No. of Shares

Percentage of Holding

Life Insurance Corporation of India

41026922

6.42

Jayakumar Narayanswami Nirad Dhirajlal Mehta and Pankaj Inderchand Jain ( As Trustees of BHL Securities Trust)

31100000

4.86

IDBI Bank Limited

18993081

2.97

Bajaj Holdings and Investment Limited

13068511

2.04

Indian Overseas Bank

9828834

1.54

Canara Bank - Mumbai

8000000

1.25

Central Bank of India

7384012

1.15

Total

129401360

20.24

 

 

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

 

Name of Shareholder

No. of Shares

Percentage of Holding

Life Insurance Corporation of India

41026922

6.42

Total

41026922

6.42

 

 

Details of Depository Receipts (DRs)

 

Name of Shareholder

No. of Shares

Percentage of Holding

GDRs

4,00,000

0.06

Total

4,00,000

0.06

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in the manufacture of sugar, alcohol and generation overpower.

 

 

Products :

Sugar and Alcohol

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

 

Selling :

Not Divulged 

 

 

Purchasing :

Not Divulged 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Experience :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Remark :

Not Divulged 

 

 

Customers :

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Experience :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Remark :

Not Divulged 

 

 

No. of Employees :

Information denied by management

 

 

Bankers :
  • Allahabad Bank
  • Central Bank of India
  • Corporation Bank
  • HDFC Bank Limited
  • IDBI Bank Limited
  • Oriental Bank of Commerce
  • Punjab National Bank
  • State Bank of India
  • State Bank of Patiala
  • Bank of Baroda
  • State Bank of Hyderabad
  • UCO Bank
  • Indian Overseas Bank

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Million

30.09.2012

Rs. In Million

LONG TERM BORROWINGS

 

 

From banks

23000.600

11513.400

From others

2089.000

2692.100

SHORT TERM BORROWINGS

 

 

Loan from banks

30761.400

28663.100

Total

55851.000

42868.600

 

Notes

 

Long Term Borrowings

 

Details of securities-

 

  • Term Loans from Banks (except term loan of Rs.1000.000 Million from Punjab National Bank) are secured, on first pari passu charge basis, by hypothecation of certain present and future movable fixed assets and properties including plant and machinery, tools and accessories of the Company and also secured/to be secured, on first pari passu charge basis, by mortgage (by deposit of title deeds) on certain immovable fixed assets and properties and certain term loans are further secured, on second pari passu charge basis, by hypothecation of certain present and future current assets of the Company including inventories, book debts and other receivables. Documentation for mortgage in respect of certain term loans/certain properties is under finalisation.

 

  • Term Loan of Rs.1000.000 Million from Punjab National Bank is secured/to be secured on residual charge basis, by hypothecation of certain present and future movable fixed assets and properties including plant and machinery, tools and accessories of the Company and also secured/to be secured, on residual charge basis, by mortgage (by deposit of title deeds) on certain immovable fixed assets and properties. Documentation for mortgage of properties is under finalisation.

 

  • Term Loans (ECB) in foreign currency from IFC of Rs.1859.300 Million is secured on exclusive first charge basis, by hypothecation of Company’s movable and immovable assets (present and future) together with all buildings and structures thereon and all plant and machinery attached thereto at its factories at Pratappur, Rudauli, Kundarkhi and Utraula in Uttar Pradesh. Also further secured, on asecond pari passu charge basis, by hypothecation of all current assets (present and future) related to the factories at aforesaid four locations.

 

  • The Sugar Development Fund loan (SDF) from Government of India is secured/to be secured, on exclusive second charge basis, byhypothecation of the whole of movable fixed assets and properties and by mortgage on the whole of immovable fixed assets and properties of the concerned sugar unit of the Company. The Company has also created security in favour of Government of India for certain other SDF loans aggregating to Rs.25.000 Million, that are yet to be disbursed to the Company, on exclusive second charge basis, by hypothecation of the entire movable fixed assets and properties and by mortgage on the whole of immovable fixed assets and properties of the respective sugar units for which the said SDF loans have been sanctioned. 5.2 FCCB's of US$ 1.50 Million amounting to Rs.910.100 Million (P.Y. Rs.790.400 Million) issued in the month of June 2007 and can be converted at the option of the bond  holder into one equity share at Rs.250 per equity share, at a pre-determined exchange rate of US$ 1= Rs.42.42 at any time up to June 14, 2014.

 

Short Term Borrowings

 

·         Loan from banks (working capital / short-term loans facilities) (except short-term loan of Rs.250.00 Million which is secured by residual charge on the assets of the Company by way of hypothecation) are secured, on first pari passu charge basis, by hypothecation of inventories, book debts, other receivables and current assets and further secured / to be secured, on a third pari passu charge basis, by hypothecation of certain movable fixed assets and properties and by mortgage on certain immovable fixed assets and properties of the Company. Documentation for mortgage in respect of certain loans is under finalisation.

 

 

 

Statutory Auditors :

 

Name :

Chaturvedi and Shah

Chartered Accountants

 

 

Cost Auditors :

 

Name :

B.J.D. Nanabhoy and Company

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Wholly owned subsidiary :

  • Bajaj Aviation Private Limited
  • Bajaj Power Generation Private Limited
  • Bajaj Hindusthan (Singapore) Private Limited, Singapore

 

 

Step down subsidiary (w.e.f. November 27, 2012) :

  • PT. Batu Bumi Persada, Indonesia
  • PT. Jangkar Prima, Indonesia

 

 

Associate :

  • Lalitpur Power Generation Company Limited (subsidiary up to January 28, 2014)
  • Bajaj Energy Private Limited (up to March 26, 2014)

 

 

Enterprises over which key management  personnel and their relatives are able to exercise significant  influence : 

  • Bajaj Capital Ventures Private Limited
  • Shishir Bajaj Family Trust
  • Bajaj Power Ventures Private Limited
  • Bajaj Infrastructure Development Company Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2710000000

Equity Shares

Re. 1/- each

Rs.2710.000 Million

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

685071333

Equity Shares

Re. 1/- each

Rs.685.100 Million

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

639399911

Equity Shares

Re. 1/- each

Rs.639.400 Million

 

 

(i) Detail of shares allotted without payment being received in cash during five years immediately preceding the Balance Sheet date are given below:

 

37000000 Equity Shares have been issued for consideration other than cash to the members of erstwhile Bajaj Hindusthan Sugar and Industries Limited pursuant to Scheme of Amalgamation.

 

(ii) The reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period:

 

 

Equity Shares

Number of Shares

Equity Shares (with voting rights) at the beginning of the period

639399911

Add: Shares issued on exercise of rights (rights issue)

 

Equity Shares at the end of the period

639399911

 

 

(iii) Terms / Rights of equity shares:

 

The Company has one class of equity shares having par value of Re.1/- per share. All equity shares are ranking pari passu in all respects including dividend. In the event of liquidation of the Company the holders of the equity shares will be entitled to receive the realised value of the assets of the Company remaining after payment of all preferential dues. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

 

Details of equity shares held by shareholders holding more than 5% shares:

 

Name of Shareholder

Number of Shares

% holding

Bajaj Resources Limited 

81944455

12.82%

Trustees - Shishir Bajaj Family Trust

64948632

10.16%

Global World Power Projects Private Limited  

41111121

6.43%

Life Insurance Corporation of India

41026922

6.42%

Janus Overseas Fund *

--

--

 

 

(v) Option on unissued capital:

 

FCCB’s of US$ 1.50 crore amounting to Rs.910.100 Million (P.Y. Rs.790.400 Million) (shown under current maturities of long-term borrowings) issued in the month of June 2007 and can be converted at the option of the bond holder into one equity share at Rs.250 per equity share at a pre-determined exchange rate of US$ 1= Rs.42.42 at any time up to June 14 2014.

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

(18 Months)

30.09.2012

(12 Months)

30.09.2011

(12 Months)

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

639.400

639.400

228.400

(b) Reserves & Surplus

24,953.000

40,303.400

31,170.700

(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)

25,592.400

40,942.800

31,399.100

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

25,095.700

15,006.900

22,397.400

(b) Deferred tax liabilities (Net)

0.000

0.000

877.400

(c) Other long term liabilities

1,794.000

0.000

0.000

(d) long-term provisions

413.600

318.400

268.600

Total Non-current Liabilities (3)

27,303.300

15,325.300

23,543.400

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

30,761.400

32,863.000

14,243.300

(b) Trade payables

28,159.200

2,364.000

2,848.200

(c) Other current liabilities

13,370.400

10,349.600

25,748.900

(d) Short-term provisions

97.400

128.300

148.400

Total Current Liabilities (4)

72,388.400

45,704.900

42,988.800

 

 

 

 

TOTAL

125,284.100

101,973.000

97,931.300

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

49,867.100

54,195.000

53,891.200

(ii) Intangible Assets

1.300

3.500

5.200

(iii) Capital work-in-progress

81.400

74.000

242.900

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

24,310.500

16,003.600

13,437.900

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

605.700

921.100

748.700

(e) Other Non-current assets

14.000

16.800

13.200

Total Non-Current Assets

74,880.000

71,214.000

68,339.100

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.500

(b) Inventories

26,735.000

5,582.400

4,678.200

(c) Trade receivables

2,254.800

1,920.200

2,482.000

(d) Cash and cash equivalents

1,282.400

1,803.000

5,837.700

(e) Short-term loans and advances

14,911.100

17,358.200

12,272.600

(f) Other current assets

5,220.800

4,095.200

4,321.200

Total Current Assets

50,404.100

30,759.000

29,592.200

 

 

 

 

TOTAL

125,284.100

101,973.000

97,931.300

 

 

 r   ble to exercise signifi s ranging from 01.10.2012 to 31.03.2014. PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

(18 Months)

30.09.2012

(12 Months)

30.09.2011

(12 Months)

 

SALES

 

 

 

 

 

Income

66,442.500

42,626.300

49,038.000

 

 

Other Income

498.100

1,061.500

153.500

 

 

TOTAL                                     (A)

66,940.600

43,687.800

49,191.500

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

78,153.300

33,660.100

27,393.800

 

 

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

(20,758.800)

(579.700)

8,884.700

 

 

Employees benefits expense

3,162.400

1,919.300

1,703.500

 

 

Other expenses

6,661.400

3,049.000

2,551.500

 

 

TOTAL                                     (B)

67,218.300

38,048.700

40,533.500

 

 

 

 

 

Less

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

(277.700)

5,639.100

8,658.000

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

9,485.700

5,364.100

5,159.500

 

 

 

 

 

 

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

(9,763.400)

275.000

3,498.500

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

5,317.200

3,488.200

3,309.100

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

(15,080.600)

(3,213.200)

189.400

 

 

 

 

 

Less

TAX                                                                  (H)

250.600

(867.500)

69.400

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

(15,331.200)

(2,345.700)

120.000

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

0.000

2,338.700

1,785.800

 

 

 

 

 

 

Transfer from debenture redemption reserve

0.000

0.000

662.500

 

 

 

 

 

 

Dividend & corporate dividend tax written back

3.600

14.500

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transferred to reserve for molasses storage tanks

5.500

3.700

3.100

 

 

Transferred to general reserve

0.000

0.000

90.100

 

 

Transferred from general reserve

0.000

(2,555.800)

0.000

 

 

Dividend paid of earlier year

0.000

164.400

25.900

 

 

Corporate dividend tax on dividend paid

0.000

26.700

4.300

 

 

Proposed dividend

0.000

63.900

91.400

 

 

Corporate dividend tax on proposed dividend

0.000

10.400

14.800

 

 

Amount pursuant to scheme of amalgamation

0.000

2,294.200

0.000

 

BALANCE CARRIED TO THE B/S

(15,333.100)

0.000

2,338.700

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of goods on F.O.B. basis

1749.300

304.300

6439.500

 

 

Others

0.000

0.000

6.000

 

TOTAL EARNINGS

1749.300

304.300

6445.500

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Capital goods

1.700

0.000

0.000

 

 

Spares and components

0.000

29.000

0.000

 

 

Others

35.700

13.300

0.000

 

TOTAL IMPORTS

37.400

42.300

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

(23.98)

(3.87)

0.53

 

 

QUARTERLY RESULTS

 

Particulars

 

30.06.2014

(Unaudited)

30.09.2014

(Unaudited)

31.12.2014

(Unaudited)

 

1st Quarter

2nd Quarter

3rd Quarter

Net Sales

9796.800

11848.200

11609.700

Total Expenditure

8644.200

11256.700

12158.300

PBIDT (Excl OI)

1152.600

591.500

(548.600)

Other Income

14.600

257.200

41.400

Operating Profit

1167.200

848.700

(507.200)

Interest

1765.200

1838.200

1708.700

Exceptional Items

0.000

38.300

0.000

PBDT

(598.000)

(951.200)

(2215.900)

Depreciation

868.300

360.200

592.500

Profit Before Tax

(1466.300)

(1311.400)

(2808.400)

Tax

0.000

0.000

0.000

Provisions and contingencies

0.000

0.000

0.000

Profit After Tax

(1466.300)

(1311.400)

(2808.400)

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

(1466.300)

(1311.400)

(2808.400)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

(18 Months)

30.09.2012

(12 Months)

30.09.2011

(12 Months)

Net Profit Margin

(PAT/Sales)

(%)

(23.07)

(5.50)

0.24

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

(0.42)

13.23

17.66

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(14.95)

(3.74)

0.22

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.59)

(0.08)

0.01

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.18

1.17

1.17

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.70

0.67

0.69

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

30.09.2011

30.09.2012

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

228.400

639.400

639.400

Reserves & Surplus

31170.700

40303.400

24953.000

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

31399.100

40942.800

25592.400

 

 

 

 

Long Term borrowings

22397.400

15006.900

25095.700

Short Term borrowings

14243.300

32863.000

30761.400

Total borrowings

36640.700

47869.900

55857.100

Debt/Equity ratio

1.167

1.169

2.183

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

30.09.2011

30.09.2012

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

49,038.000

42,626.300

66,442.500

 

 

(13.075)

55.872

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

30.09.2011

30.09.2012

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

49,038.000

42,626.300

66,442.500

Profit

120.000

(2,345.700)

(15,331.200)

 

0.24%

(5.50%)

(23.07%)

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Rs. In Million

PARTICULARS

31.03.2014

30.09.2012

30.09.2011

Current maturities of long term debt

6889.600

9210.100

15326.600

Total

6889.600

9210.100

15326.600

 

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

No

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

-----------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

----------

22]

Litigations that the firm / promoter involved in

----------

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

----------

26]

Buyer visit details

----------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

No

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

UNSECURED LOAN:

 

Particulars

31.03.2014

Rs. In Million

30.09.2012

Rs. In Million

LONG TERM BORROWINGS

 

 

From others

6.100

801.400

SHORT TERM BORROWINGS

 

 

Loan from banks

0.000

4199.900

Total

6.100

5001.300

 

 

CORPORATE INFORMATION

 

The Company is a public limited company incorporated in India under the provisions of the Companies Act, 1956. Its Shares are listed on Bombay Stock Exchange and National Stock Exchange. The Company is engaged in the manufacture of sugar, alcohol and generation overpower.

 

 

CHANGE IN FINANCIAL YEAR

 

The financial year 2012-13 of the Company was extended by 6 months to end on March 31 2014 (Financial Year) instead of September 30 2013 to comply with the provision of the Companies Act 2013 relating to “financial year” to mean the period ending on March 31 every year.

 

 

FINANCIAL RESULTS

 

The results for the Financial Year comprises of a period of 18 months and therefore are not comparable with the results of 2011-12 comprising a period of 12 months. The financial and operating results for current financial are also not strictly comparable with those of previous financial year 2011-12 to the extent that current financial include figures pertaining to the erstwhile subsidiary Bajaj Eco-Tec Products Limited (BEPL) for 18 months period however in the previous year these were of six months period ended September 30 2012 viz. from the Appointed Date as April 01 2012 to September 30 2012 consequent upon the merger of BEPL with the Company as per the Scheme of Amalgamation approved by the Hon’ble High Court of Judicature at Bombay vide Order dated September 14 2012.

 

 

On a stand-alone basis the Company achieved a turnover of Rs.66940.600 Million for the 18 months period ended March 2014 as compared to Rs.43687.800 Million in the previous year. The loss after tax was Rs.15331.200 Million as compared to the loss of Rs.2345.700 Million in the previous year. On a consolidated basis the turnover including other income was Rs.66689.600 Million as compared to Rs.44513.000 Million in the previous year. The loss after tax and minority interest was Rs.16246.800 Million as against loss of Rs.3201.100 Million in the previous year.

 

 

OPERATIONS

 

The Company continues to be the leading sugar and ethanol manufacturing company in India with its

fourteen sugar plants having an aggregate sugarcane crushing capacity of 136000 TCD six distilleries having aggregate capacity to produce Industrial Alcohol of 800 kilolitres per day and fourteen co-generation plants having a total power generation capacity of 449 MW two Medium Density Fibre (MDF) Board manufacturing plants having capacity of 120000 MT per annum and one Particle Board (PB) manufacturing plant having capacity of 35000 MT per annum. The operations during 18 months period ended March 31 2014 at all the fourteen sugar plants were satisfactory.

 

Sugar

 

The current period ended March 31 2014 covered almost two crushing seasons the Company crushed

24.838 MMT of sugarcane. The average recovery of sugar from sugarcane was at 9.20% as against 9.14% in the previous year. The Company produced 2273088 MT sugar from sugarcane and 1265184 MT molasses during the current Financial Year.

 

The Company sold 1630924 MT of sugar as against 1138494 MT during the previous year and also sold 53883 MT of molasses as against 95407 MT in the previous year.

 

Distillery

 

During current period ended March 31 2014 Industrial Alcohol / Ethanol production was 254764 KL as compared to 145156 KL in the previous year. Alcohol / Ethanol sale during the period was at 225678 KL as against 148835 KL during the previous year.

 

Power

 

The operations of power generation were smooth at all of our fourteen sugar plants. While most of the power generated by us continued to be used captively to run our plants the surplus power was sold to the Uttar

 

Pradesh state grid.

 

Power generation was at 1615638 MW as compared to 821215 MW in the previous year. This was achieved primarily out of higher quantum of bagasse available from the crushing of sugarcane and optimum utilization of co-gen capacities resulting from efficient planning. The Company exported 702371 MW of power during the period as against 346180 MW during the previous year.

 

 

 

 

Bagasse Boards

 

The operations of Palia and Kinauni plants were suspended after operations for 3 months due to non- availability of adequate quantity of sugarcane bagasse at affordable prices. During this Financial Year 2616 MT of Particle Board and 5676 MT of MDF Board were produced. Operations at these plants were to be scaled down due to non-availability of adequate quantity of sugarcane bagasse in and around that area. The sales during the period were 4807 MT of PB and 11865 MT of MDF at a value of Rs.125.000 Million and Rs.278.100 Million respectively.

 

 

UNAUDITED FINANCIAL RESULTS FOR THE    QUARTER ENDED 31ST DECEMBER 2014

 

(Rs. In Million)

Particulars

Quarter Ended

( Unaudited)

Quarter Ended

( Unaudited)

Nine Month Ended

( Unaudited)

 

31.12.2014

30.09.2014

31.12.2014

 

 

 

 

1. Income from operations

 

 

 

a) Net sales/ Income from operation (net of excise duty)

11047.700

11808.000

32619.100

b) Other operating income

562.000

40.200

635.600

Total income from Operations(net)

11609.700

11848.200

33254.700

2.Expenditure

 

 

 

a) Cost of material consumed

9125.600

4.100

13564.000

b) Purchases of stock in trade

1801.700

10737.500

15957.900

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

460.800

260.100

1151.400

d) Employees benefit expenses

592.500

360.200

1821.000

e) Depreciation and amortization expenses

(54.100)

(348.200)

(590.200)

f) Other expenditure

824.300

603.200

1976.100

Total expenses

12750.800

11616.900

33880.200

3. Profit from operations before other income and financial costs

(1141.100)

231.300

(625.500)

4. Other income

41.400

231.300

313.200

5. Profit from ordinary activities before finance costs

(1099.700)

462.600

(312.300)

6. Finance costs

1708.700

1838.200

5312.100

7. Net profit/(loss) from ordinary activities after finance costs but before exceptional items

(2808.400)

(1375.600)

(5624.400)

8. Exceptional item

0.000

(38.300)

(38.300)

9. Profit from ordinary activities before tax Expense:

(2808.400)

(1337.300)

(5586.100)

10.Tax expenses

0.000

0.000

0.000

11.Net Profit / (Loss) from ordinary activities after tax

(2808.400)

(1337.300)

(5586.100)

12.Extraordinary Items (net of tax expense)

0.000

0.000

0.000

13.Net Profit / (Loss) for the period

(2808.400)

(1337.300)

(5586.100)

14.Paid-up equity share capital (Nominal value Rs.10/- per share)

11047.700

11808.000

32619.100

15. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year

 

 

 

16.i) Earnings per share (before extraordinary items) of Rs.10/- each) (not annualised):

 

 

 

(a) Basic

(4.39)

(2.05)

(8.74)

(b) Diluted

(4.39)

(2.05)

(8.74)

 

 

Particulars

Quarter Ended

( Unaudited)

Quarter Ended

( Unaudited)

Nine Month Ended

( Unaudited)

 

31.12.2014

30.09.2014

31.12.2014

A. Particulars of shareholding

 

 

 

1. Public Shareholding

 

 

 

- Number of shares

344,069,145

344,069,145

344,069,145

- Percentage of shareholding

53.81%

53.81%

53.81%

2. Promoters and Promoters group Shareholding-

 

 

 

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

294,930,766

294,930,766

294,930,766

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

100.00%

 

100.00%

 

100.00%

 

Percentage of shares (as a % of total share capital of the company)

46.13%

 

46.13%

 

46.13%

 

 

 

 

 

B. Investor Complaints

 

 

 

Pending at the beginning of the quarter

 

--

 

Receiving during the quarter

 

5

 

Disposed of during the quarter

 

5

 

Remaining unreserved at the end of the quarter

 

--

 

 

 

UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED

(Rs. In Million)  

Particulars

Quarter Ended

( Unaudited)

Quarter Ended

( Unaudited)

Nine Month Ended

( Unaudited)

 

31.12.2014

30.09.2014

31.12.2014

1. Segment Revenue

 

 

 

a. Sugar

10689.000

10656.100

27944.100

b. Distillery

636.100

1202.400

3348.400

c. Power

771.600

20.100

1259.400

d. Others

0.000

0.000

2142.100

Total

12096.700

11878.600

34694.000

Less : Inter Segment Revenue

1049.000

70.600

2074.900

Net Sales

11047.700

11808.000

32619.100

 

 

 

 

2. Segment Result (Profit before Interest and Tax)

 

 

 

a. Sugar

(1787.700)

(275.100)

(2253.700)

b. Distillery

191.000

590.200

1317.800

c. Power

510.100

(36.500

671.800

d. Others

(18.800)

(19.100)

(150.500)

Total

(1105.400)

259.500

(414.600)

Less : (i) Interest

1708.700

1838.200

5312.100

(ii) Other un-allocable expenditure net off un-allocable income.

(5.700)

(267.300)

(140.600)

Profit before Tax

(2808.400

(1311.400)

(5586.100)

 

 

 

 

3. Capital Employed

 

 

 

a. Sugar

42316.000

46051.100

42316.000

b. Distillery

4447.200

4394.100

4447.200

c. Power

5163.600

5099.500

5163.600

d. Others

1077.000

1035.800

1077.000

Total

41116.900

33422.500

41116.900

 

94120.700

90003.000

94120.700

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10515999

15/07/2014

500,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,, JEEVAN TARA BUILDING,5 , PARLIAMENT STREET,, NEW DELHI, DELHI - 110001, INDIA

C17342718

2

10509072

30/06/2014

500,000,000.00

CORPORATION BANK

CORPORATE BANKING BRANCH HINDUSTHAN TIMES HOUSE,, 
10TH FLOOR, 18/20, K.G. MARG, CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

C11349495

3

10510537

22/09/2014 *

2,500,000,000.00

CANARA BANK

SPECIALISED PRIME CORPORATE BRANCH,VERMA CHAMBERS, 
, 2NDFLOOR,HOMJI STREET, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA

C25474081

4

10501260

27/06/2014 *

250,000,000.00

ORIENTAL BANK OF COMMERCE

HARSHA BHAWAN, E BLOCK,, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA

C11579174

5

10496671

30/05/2014

85,000,000.00

STATE BANK OF HYDERABAD

COMMERCIAL BRANCH, 74, JANPATH,, NEW DELHI, DELHI- 110001, INDIA

C05164843

6

10505395

02/05/2014

79,570,000,000.00

IDBI BANK LIMITED

ASIAN BLDG, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

C08847881

7

10505397

02/05/2014

9,290,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

C08848087

8

10501256

04/04/2014

1,500,000,000.00

INDIAN OVERSEAS BANK

2, NAVYUG MARKET,, GHAZIABAD, UTTAR PRADESH - 201001, INDIA

C05849021

9

10490534

21/03/2014

400,000,000.00

IDBI BANK LIMITED

WTC COMPLEX, CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

C03881331

10

10482349

27/06/2014 *

4,000,000,000.00

ALLAHABAD BANK

INTERNATIONAL BRANCH, 17 PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

C13016274

11

10489637

06/03/2014

1,000,000,000.00

PUNJAB NATIONAL BANK

MID CORPORATE BRANCH, NOIDA, UTTAR PRADESH - 201301, INDIA

C03696341

12

10454678

27/06/2014 *

2,000,000,000.00

IDBI BANK LIMITED

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

C12533386

13

10454526

09/10/2013

2,500,000,000.00

BANK OF MAHARASHTRA

A-4 PS ARCADE, BHOJA MARKET, ATTA,, SECTOR 27, NEAR VINAYAK HOSPITAL, NOIDA, UTTAR PRADESH - 201301, INDIA

B87321550

14

10444481

27/06/2014 *

2,500,000,000.00

BANK OF MAHARASHTRA

A-4 PS ARCADE, BHOJA MARKET, ATTA,, SECTOR-27, NEAR VINAYAK HOSPITAL, NOIDA, UTTAR PRADESH - 201301, INDIA

C12489431

15

10438252

27/06/2014 *

1,500,000,000.00

ORIENTAL BANK OF COMMERCE

HARSHA BHAWAN, E BLOCK,, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA

C11301728

16

10425142

12/02/2014 *

2,000,000,000.00

INDIAN OVERSEAS BANK

2, NAVYUG MARKET,, GHAZIABAD, UTTAR PRADESH - 201001, INDIA

B98120876

17

10412777

12/02/2014 *

1,750,000,000.00

UCO BANK

FLAGSHIP, CORPORATE CENTRE, 5, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

B98266182

18

10398790

12/02/2014 *

500,000,000.00

STATE BANK OF HYDERABAD

COMMERCIAL BRANCH, 74, JANPATH, NEW DELHI, DELHI- 110001, INDIA

B97713531

19

10376300

04/06/2014 *

2,250,000,000.00

UCO BANK

FLAGSHIP, CORPORATE CENTRE,, 5, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

C18569087

20

10359540

12/02/2014 *

1,000,000,000.00

STATE BANK OF HYDERABAD

COMMERCIAL BRANCH, 74, JANPATH, NEW DELHI, DELHI- 110001, INDIA

B97706816

21

10360329

12/02/2014 *

1,500,000,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, 36, JANPATH, 2ND FLOOR, CHANDRALOK BUILDING, NEW DELHI, DELHI - 110001, INDIA

B98284276

22

10333524

12/02/2014 *

1,000,000,000.00

BANK OF BARODA

CFS (LARGE CORPORATE) BRANCH, 1ST FLOOR,, BANK OF BARODA BLDG, 16, SANSAD MARG,, NEW DELHI, DELHI - 110001, INDIA

B98290406

23

10330189

22/12/2011

2,000,000,000.00

UCO BANK

FLAGSHIP CORPORATE CENTER,, 5, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

B30028039

24

10321617

15/03/2012 *

54,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B36160786

25

10321620

12/02/2014 *

54,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B97722805

26

10321624

12/02/2014 *

54,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B97720445

27

10295928

12/02/2014 *

2,000,000,000.00

IDBI BANK LIMITED

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

B97599849

28

10296687

12/02/2014 *

2,000,000,000.00

CANARA BANK

SPECIALISED PRIME CORPORATE BRANCH-FORT, VERMA CHAMBERS 2ND FLOOR, HOMJI STREET, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B97747786

29

10246114

24/12/2010 *

54,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B03280864

30

10246115

24/12/2010 *

54,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B03281466

31

10246116

24/12/2010 *

54,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B03282480

32

10246118

24/12/2010 *

54,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B03283025

33

10244341

12/02/2014 *

2,000,000,000.00

BANK OF INDIA

LARGE CORPORATE BRANCH, CHANDRALOK BLDG., I0TH FLR 
, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA

B97929699

34

10237841

12/02/2014 *

2,000,000,000.00

BANK OF BARODA

CFS (LARGE CORPORATE) BRANCH, 1ST FLOOR,, BANK OF BARODA BDLG, 16, SANSAD MARG,, NEW DELHI, DELHI - 
110001, INDIA

B98292030

35

10232467

12/02/2014 *

2,000,000,000.00

ORIENTAL BANK OF COMMERCE

MEERUT CANTT BRANCH, SARDAR BAZAR, GAZIAHBAD, UTTAR PRADESH - 250001, INDIA

B97998611

36

10231022

12/02/2014 *

1,000,000,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, 36, JANPATH, 2ND FLOOR, CHANDRALOK BUILDING, NEW DELHI, DELHI - 110001, INDIA

B98285562

37

10225962

12/02/2014 *

2,000,000,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, 1ST FLOOR, 16/10, MAIN ARYA SAMAJ ROAD, KAROLBAGH, NEW DELHI, DELHI - 110005, INDIA

B98110869

38

10225963

04/06/2014 *

1,500,000,000.00

CORPORATION BANK

CORPORATE BANKING BRANCH HINDUSTHAN TIMES HOUSE,, 
10TH FLOOR, 18/20, K.G. MARG, CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

C06988315

39

10225337

12/02/2014 *

2,000,000,000.00

CENTRAL BANK OF INDIA

SEHANI, GHAZIABAD, GHAZIABAD, UTTAR PRADESH - 201003, INDIA

B98293160

40

10226425

12/02/2014 *

1,000,000,000.00

STATE BANK OF HYDERABAD

COMMERCIAL BRANCH, 71, JANPATH, NEW DELHI, DELHI- 110001, INDIA

B97709794

41

10225967

12/02/2014 *

2,000,000,000.00

ALLAHABAD BANK

INTERNATIONAL BRANCH, 17 PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

B98186653

42

10210788

04/05/2010 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A85063774

43

10210789

04/05/2010 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A85064087

44

10210791

04/05/2010 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A85064632

45

10210794

04/05/2010 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A85060036

46

10210796

04/05/2010 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A85060754

47

10210797

12/02/2014 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B97718316

48

10210799

04/05/2010 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A85063436

49

10210800

12/02/2014 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

B97717094

50

10210801

04/05/2010 *

25,000,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A85062420

51

10204381

04/06/2014 *

6,000,000,000.00

CENTRAL BANK OF INDIA

JEEVAN TARA BUILDING,, 5, PARLIAMENT STREET,, NEW DELHI, DELHI - 110001, INDIA

C08767394

52

10183197

26/10/2009

6,000,000,000.00

IDBI BANK LIMITED

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

A72460231

53

10174913

12/02/2014 *

2,500,000,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, 36, JANPATH, 2ND FLOOR, CHANDRALOK BUILDING, NEW DELHI, DELHI - 110001, INDIA

B98283195

54

10148806

12/02/2014 *

2,000,000,000.00

ALLAHABAD BANK

INTERNATIONAL BRANCH, 17 PARLIAMENT STREET, NEW D 
ELHI, DELHI - 110001, INDIA

B98183239

55

10137088

14/02/2009 *

282,240,800.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A58274317

56

10137089

13/08/2009 *

41,061,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A68575158

57

10137680

14/02/2009 *

75,495,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A58273905

58

10111003

19/07/2008 *

58,658,600.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN, DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A43279637

59

10111006

12/02/2014 *

67,520,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN , DEPT. OF FOOD & PUBLIC DISTBN., KRISHI BHAVAN, NEW DELHI, DELHI - 110001, INDIA

B97731491

60

10111007

19/07/2008 *

55,383,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTBN , DEPT. OF FOOD & PUBLIC DISTRIBUTION, KRISHI BHAWAN, NEW DELHI, DELHI - 110001, INDIA

A43284108

51

10204381

04/06/2014 *

6,000,000,000.00

CENTRAL BANK OF INDIA

JEEVAN TARA BUILDING,, 5, PARLIAMENT STREET,, NEW DELHI, DELHI - 110001, INDIA

C08767394

61

10103006

31/10/2009 *

1,500,000,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, 36, JANPATH, 2ND FLOOR, CHANDRALOK BUILDING,, NEW DELHI, DELHI - 110001, INDIA

A73566887

62

10099454

12/02/2014 *

90,800,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUBLIC DISTRIBUTION, KRISHI BHAVAN, NEW DELHI, DELHI - 110001, 
INDIA

B97730667

63

10100002

10/03/2008 *

70,480,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUB.DISTBN.KRISHI BHAVAN, NEW DELHI, DELHI - 110001, INDIA

A37830213

64

10100018

10/03/2008 *

115,840,000.00

GOVERNMENT OF INDIA

MINISTRY OF CONSUMER AFFAIRS, FOOD & PUB.DISTBN., 
KRISHI BHAVAN, NEW DELHI, DELHI - 110001, INDIA

A37829215

65

10089559

09/05/2011 *

433,400,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH,, 6A, WAY ROAD, GOKHALE MARG,, 
LUCKNOW, UTTAR PRADESH - 226001, INDIA

B13464219

66

10058608

21/07/2007 *

5,325,728,500.00

INTERNATIONAL FINANCE CORPORATION

2121 PENNSYLVANIA AVENUE, NW,, 20433, USA, WASHINGTON DC, - 20433, UNITED STATES OF AMERICA

A20187126

67

10059428

12/02/2014 *

2,700,000,000.00

IDBI BANK LIMITED

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

B97612311

68

80004334

12/02/2014 *

2,750,000,000.00

ORIENTAL BANK OF COMMERCE

MEERUT CANTT., SADAR BAZAR, GHAZIABAD, UTTAR PRADESH - 250001, INDIA

B97995740

69

90229919

12/02/2014 *

150,000,000.00

HDFC BANK LIMITED

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

B98186208

70

80035104

03/08/2001 *

110,325,000.00

I F C I

I F C I, 61 NEHRU PALACE , NEW DELHI, DELHI - 110001, INDIA

-

71

80005717

12/02/2014 *

11,500,000,000.00

PUNJAB NATIONAL BANK

MID CORPORATE BRANCH,, H1A/11, SECTOR-63, NOIDA, UTTAR PRADESH - 201301, INDIA

B97764112

72

80001253

27/06/2014 *

18,012,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, 6A WAY ROAD, GOKHALE MARG, LUCKNOW, UTTAR PRADESH - 226001, INDIA

C12129755

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

 

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.62.67

UK Pound

1

Rs.93.16

Euro

1

Rs.66.42

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

VNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--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

 

33

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NB

NEW BUSINESS

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.