MIRA INFORM REPORT
|
Report No. : |
313175 |
|
Report Date : |
23.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESSEL MINING AND INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Industry House, 18th Floor, 10, Camac Street, Kolkata -
700017, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.04.1950 |
|
|
|
|
Com. Reg. No.: |
21-018728 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 5.347 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB1950PLC018728 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE6607L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in iron ore, coal, and dolomite mining.
It offers calibrated lump iron ore for iron-making; and iron ore fines for making
pig iron. The company also provides ferro molybdenum, ferro vanadium, ferro
titanium, and vanadium pentoxide. In addition, subject engages in wind power
generation |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 188900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well-established company having fine track record. Sales turnover of the company has declined during financial year,
2014. However, the rating reflects EMIL’s large scale of operations
supported by healthy financial risk profile and adequate liquidity position
of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
ICRA |
|
Rating |
Fund Based Bank Limits: “A1+” |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
March, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Darpan Pandya |
|
Designation : |
-- |
|
Contact No.: |
91-260-2423199 |
|
Date : |
19.03.2015 |
LOCATIONS
|
Registered Office : |
Industry House, 18th Floor, 10, Camac Street, Kolkata -
700017, West Bengal, India |
|
Tel. No. : |
91-33-39876000 |
|
Fax No. : |
91-33-30518482/30518300 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Aditya Birla Centre, S K Ahire Marg, Worli, Mumbai - 400030,
Maharashtra, India |
|
Tel. No.: |
91-22-66525000 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Mining Division At P.O. Barbil, District Keonjhar - 758035, Orissa, India |
|
Tel. No.: |
91-6767-275224/237 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Ferro Chem
Division Plot No. 165 and 166, GIDC, District Valsad, Vapi - 396195, Gujarat,
India |
|
Tel. No.: |
91-260-2423199/2436520 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Wind Power
Division Village Khori, Taluka Sakri, District Dhule, Maharashtra, India |
|
E-Mail : |
DIRECTORS
As on 29.08.2014
|
Name : |
Mr. Kumar
Mangalam Birla |
|
Designation : |
Director |
|
Address: |
Mangal Adityayan,
20, Carmichael
Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth : |
14.06.1967 |
|
Qualification: |
CA, MBA |
|
Date of Appointment : |
09.05.2004 |
|
PAN No.: |
AEFPB5926H |
|
DIN No.: |
00012813 |
|
|
|
|
Name : |
Mrs. Rajashree Birla |
|
Designation : |
Director |
|
Address: |
Mangal Adityaayan, 20, |
|
Date of Birth : |
15.09.1945 |
|
Qualification: |
B.A. |
|
Date of Appointment : |
09.05.2004 |
|
PAN No.: |
AAFPB1583L |
|
DIN No.: |
00022995 |
|
|
|
|
Name : |
Tuhin Kumar
Mukherjee |
|
Designation : |
Managing Director
|
|
Address: |
Flat No. 3505,
Imperial South Tower North,
BB Nakashe Marg, Tardeo, Mumbai - 400034, Maharashtra, India |
|
Date of Birth : |
25.03.1952 |
|
Date of Appointment : |
21.01.2011 |
|
PAN No.: |
ABEPM756K |
|
DIN No.: |
01163569 |
|
|
|
|
Name : |
Mr. Ashwin Kumar Kothari |
|
Designation : |
Director |
|
Address: |
Gold Cornet, Flat No.4, 1st Floor, 11 Nawroji Gamadia Road,
Mumbai – 400026, Maharashtra, India |
|
Date of Birth : |
14.09.1942 |
|
Qualification: |
Graduate in Chemical Sciences from (MIT) |
|
Date of Appointment : |
29.08.2014 |
|
PAN No.: |
AFYPK7068M |
|
DIN No.: |
00033730 |
|
|
|
|
Name : |
Mr. Sunil Kumar
Daga |
|
Designation : |
Director |
|
Address: |
Rajanigandha, 25
Ballygunge Park, Kolkata - 700019, West |
|
Date of Birth : |
06.03.1941 |
|
Qualification: |
B.COM |
|
Date of Appointment : |
29.08.2014 |
|
PAN No.: |
ACUPD8176C |
|
DIN No.: |
00441579 |
|
|
|
|
Name : |
Mr. Manish Kumar Newar |
|
Designation : |
Director |
|
Address: |
Kusum Apartments, |
|
Date of Birth : |
30.03.1969 |
|
Qualification: |
B.COM, MBA |
|
Date of Appointment : |
08.12.1993 |
|
PAN No.: |
ABKPN2310B |
|
DIN No.: |
00469539 |
|
|
|
|
Name : |
Mr. Nagendra Chandra Shah |
|
Designation : |
Director |
|
Address: |
1, Burdwan Road, Alipore, Kolkata - 700027, West Bengal, India |
|
Date of Birth : |
10.08.1935 |
|
Qualification: |
B.COM, L.L.B |
|
Date of Appointment : |
29.08.2014 |
|
PAN No.: |
AMKPS3622A |
|
DIN No.: |
00442180 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Singh |
|
Designation : |
Company Secretary |
|
Address : |
T2/F3/G2, Eastern High, Society New Town, Kolkata – 700156, West
Bengal, India |
|
Date of Birth/Age : |
26.05.1972 |
|
Date of Appointment : |
25.06.2012 |
|
PAN No.: |
AOLPS3188L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.08.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 29.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Public financial companies |
0.01 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
7.86 |
|
Bodies corporate |
86.51 |
|
Directors or relatives of Directors |
3.19 |
|
Other top fifty shareholders |
2.43 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in iron ore, coal, and dolomite mining.
It offers calibrated lump iron ore for iron-making; and iron ore fines for making
pig iron. The company also provides ferro molybdenum, ferro vanadium, ferro
titanium, and vanadium pentoxide. In addition, subject engages in wind power
generation |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India, Corporate Accounts Group Branch, Reliance House, 2nd Floor, 34, Jawaharlal Nehru Road, Kolkata - 700071, West Bengal, India · Axis Bank Limited, Trishul 3rd Floor Opposites Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · HDFC Bank Limited, Central Plaza Branch Account Number: 00140110000244 |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
Finance
Institutions: |
· IDBI Trusteeship Services Limited, Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India · Unit Trust of India Investment Advisory Services Limited, Uti Tower Gn Blockbandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India · Citicorp Finance (India) Limited, 8th Floor, First International Financial Centre, C-54 and C-55, G-Block, Bandra Kurla Complex Bandra (East), Mumbai, Maharashtra - 400051, India · CITI Financial Consumer Finance India Limited, 3 Local Shopping Complex, Pushp Vihar, New Delhi, Delhi - 110062, India |
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|
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Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
22, Camac Street, Block C, 3rd Floor, Kolkata – 700016, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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Subsidiary Company : |
· IGH Holdings Private Limited CIN No.: U64200MH2000PTC129356 · Bhubaneswari Coal Mining Limited CIN No.: U10102WB2010PLC153242 · Electrotherm Renewables Private Limited CIN No.: U31900GJ2008PTC055471 · Rajmahal Coal Mining Limited CIN No.: U10300WB2012PLC181325 · AB Metal Mining Company Private Limited CIN No.: U13209WB2007PTC120293 · SL Base Metal Mining Company Private Limited CIN No.: U13209WB2007PTC120292 · SL PGM Mining Company Private Limited CIN No.: U10200WB2007PTC120295 · EMIL Coal Mining Limited CIN No.: U10300WB2013PLC198443 · AB Metal Mining Company Private Limited CIN No.: U13209WB2007PTC120293 · AB PGM Mining Company Private Limited CIN No.: U13209WB2007PTC120296 |
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Associate : |
· Palace Solar Energy Private Limited CIN No.: U40102MH2007PTC175289 · Aditya Birla Ports Limited CIN No.: U45203OR2010PLC012703 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
HGI Industries Limited CIN No.: L40200WB1944PLC011754 |
CAPITAL STRUCTURE
As on 29.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
299,000,000 |
Preference Shares |
Rs.100/- each |
Rs. 29900.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 30000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
534,735 |
Equity Shares |
Rs.10/- each |
Rs. 5.347
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
5.347 |
2997.347 |
2997.347 |
|
(b) Reserves & Surplus |
66122.087 |
62013.819 |
54906.288 |
|
(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) |
66127.434 |
65011.166 |
57903.635 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
27835.412 |
10001.000 |
12993.000 |
|
(b) Deferred tax liabilities (Net) |
556.392 |
634.699 |
440.405 |
|
(c) Other long term
liabilities |
193.500 |
193.500 |
96.700 |
|
(d) long-term
provisions |
43.305 |
40.368 |
37.786 |
|
Total Non-current
Liabilities (3) |
28628.609 |
10869.567 |
13567.891 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
9552.421 |
9162.846 |
954.570 |
|
(b) Trade
payables |
1906.099 |
2595.207 |
2204.940 |
|
(c) Other
current liabilities |
1992.574 |
1277.954 |
2085.785 |
|
(d) Short-term
provisions |
378.106 |
379.313 |
391.237 |
|
Total Current Liabilities
(4) |
13829.200 |
13415.320 |
5636.532 |
|
|
|
|
|
|
TOTAL |
108585.243 |
89296.053 |
77108.058 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6109.520 |
4872.736 |
4894.572 |
|
(ii)
Intangible Assets |
20.475 |
32.826 |
0.000 |
|
(iii)
Capital work-in-progress |
660.154 |
759.192 |
653.177 |
|
(iv)
Intangible assets under development |
2.242 |
0.000 |
20.633 |
|
(b) Non-current Investments |
49244.847 |
33383.936 |
32809.331 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
49043.881 |
47082.112 |
34871.672 |
|
(e) Other
Non-current assets |
8.603 |
1.546 |
1.493 |
|
Total Non-Current
Assets |
105089.722 |
86132.348 |
73250.878 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.169 |
0.000 |
0.200 |
|
(b)
Inventories |
951.376 |
929.511 |
1134.474 |
|
(c) Trade
receivables |
455.052 |
661.933 |
610.784 |
|
(d) Cash and
cash equivalents |
11.047 |
334.568 |
621.125 |
|
(e)
Short-term loans and advances |
1785.764 |
1067.790 |
1355.117 |
|
(f) Other
current assets |
292.113 |
169.903 |
135.480 |
|
Total
Current Assets |
3495.521 |
3163.705 |
3857.180 |
|
|
|
|
|
|
TOTAL |
108585.243 |
89296.053 |
77108.058 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16547.484 |
22189.769 |
15159.645 |
|
|
|
Other Income |
823.405 |
424.701 |
444.495 |
|
|
|
TOTAL (A) |
17370.889 |
22614.470 |
15604.140 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1589.994 |
1444.878 |
1414.648 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
-41.170 |
250.590 |
-238.482 |
|
|
|
Employees benefits expense |
1058.440 |
933.458 |
773.766 |
|
|
|
Other expenses |
6139.179 |
6874.662 |
7415.594 |
|
|
|
TOTAL (B) |
8746.443 |
9503.588 |
9365.526 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
8624.446 |
13110.882 |
6238.614 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2674.383 |
1964.707 |
1816.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5950.063 |
11146.175 |
4422.311 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
444.174 |
441.461 |
367.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
5505.889 |
10704.714 |
4054.690 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1441.693 |
3263.704 |
1203.019 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
4064.196 |
7441.010 |
2851.671 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
615.220 |
2243.900 |
6407.387 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7583.47 |
13297.54 |
4780.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
24.56 |
33.53 |
18.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
52.12 |
59.09 |
41.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.38 |
19.41 |
9.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.16 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57 |
0.29 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.25 |
0.24 |
0.68 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2997.347 |
2997.347 |
5.347 |
|
Reserves & Surplus |
54906.288 |
62013.819 |
66122.087 |
|
Net
worth |
57903.635 |
65011.166 |
66127.434 |
|
|
|
|
|
|
long-term borrowings |
12993.000 |
10001.000 |
27835.412 |
|
Short term borrowings |
954.570 |
9162.846 |
9552.421 |
|
Total
borrowings |
13947.570 |
19163.846 |
37387.833 |
|
Debt/Equity
ratio |
0.241 |
0.295 |
0.565 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
15159.645 |
22189.769 |
16547.484 |
|
|
|
46.374 |
(25.427) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
15159.645 |
22189.769 |
16547.484 |
|
Profit |
2851.671 |
7441.010 |
4064.196 |
|
|
18.81% |
33.53% |
24.56% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
CASE STATUS
: PENDING |
||
|
|
||
|
STATUS OF
INCOME TAX APPEAL TENDERED
57 OF
2014 COMMISSIONER OF INCOME TAX, KOL-II,
KOLK VS.
M/S. ESSEL MINING & INDUSTRIES LTD. |
||
|
|
||
|
PET'S ADV.
: MADHULIKA G. UPADHYAY
|
||
|
|
||
|
RES'S
ADV. : |
||
|
|
||
TUESDAY, AUGUST 19, 2014 |
||
|
|
||
|
CATEGORY :
INCOME TAX : REVENUE |
||
|
|
||
|
CONNECTED APPLICATION (S) CONNECTED MATTER (S)
|
||
|
|
||
|
CASE UPDATED ON: TUESDAY, JULY 22,
2014 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10507749 |
02/07/2014 |
1,827,800,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C10329217 |
|
2 |
10490267 |
24/03/2014 |
1,000,000,000.00 |
CITICORP FINANCE (INDIA) LIMITED |
8TH FLOOR, FIRST
INTERNATIONAL FINANCIAL CENTRE, |
C03812336 |
|
3 |
10490021 |
21/03/2014 |
1,095,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
C03765856 |
|
4 |
10479349 |
31/01/2014 |
1,095,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B97105308 |
|
5 |
10475842 |
23/01/2014 |
500,000,000.00 |
CITIFINANCIAL CONSUMER FINANCE INDIA LIMITED |
3 LOCAL SHOPPING
COMPLEX, PUSHP VIHAR, NEW DELHI, |
B95587762 |
|
6 |
10392661 |
01/12/2012 |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B64403090 |
|
7 |
10123016 |
10/04/2013 * |
7,950,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
CORPORATE ACCOUNTS
GROUP BRANCH, RELIANCE HOUSE, |
B74695453 |
|
8 |
10096826 |
27/09/2013 * |
10,001,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLE, LAW G |
B86520624 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debentures intercorporate |
16065.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
830.000 |
|
Loans repayable on demand from banks |
0.000 |
189.111 |
|
Loans repayable on demand from others |
0.000 |
19.000 |
|
Commercial paper |
9500.000 |
6000.000 |
|
Other loans and advances, others |
0.000 |
670.014 |
|
Total |
25565.000 |
7708.125 |
OVERVIEW AND REVIEW
OF OPERATIONS
The net revenue from operations of the Company declined by 25.43%, from Rs. 22189.800 Millions to Rs.16547.500 Millions. For FY 2013-14, The Company’s profit after tax stood at Rs. 4064.200 MIllions visits Rs.7441.000 Millions in the previous year, registering a decline of 45.38%. The Company’s Mining Division continues to be the key contributor to the profit. It recorded a total EBITDA of Rs. 8994.000 Millions visits Rs. 13455.000 Millions achieved in the previous year. The Noble Ferro Alloys Division posted growth in com prison to the last fiscal, with an EBITDA of Rs. 115.400 Millions as against Rs. 98.400 Millions. The EBIT DA of the Wind Power Division also grew to Rs. 708.600 Millions in FY 2013-14 from Rs. 485.100 Millions in FY 2012-13. The lease rent al income (EBITDA) of the Company’s Solar Business stood at Rs. 120.400 Millions as against Rs. 115.600 Millions in FY 2012-13. The 22 MWP Solar Project at Raja s than also contributed a revenue of Rs 13.400 Millions during the year. During the second half of FY 2013-14, regulator y constraints affected mining operations significantly.
FIXED ASSETS
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
·
Office Equipment
·
Other Equipments
·
Railway Sidings
Intangible Assets
·
Computer Software
·
Mining Rights
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.62.49 |
|
|
1 |
Rs.92.26 |
|
Euro |
1 |
Rs.66.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
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.