MIRA INFORM REPORT
|
Report No. : |
321504 |
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Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
MCNALLY BHARAT ENGINEERING COMPANY LIMITED (w.e.f.1972) |
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Formerly Known
As : |
MCNALLY BIRD ENGINEERING COMPANY LIMITED |
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Registered
Office : |
4, Mangoe Lane, 7th
Floor, Kolkata – 700001, West Bengal |
|
Tel. No.: |
91-33-22138901-05 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.07.1961 |
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Com. Reg. No.: |
21-025181 |
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Capital
Investment / Paid-up Capital : |
Rs.408.438 Million |
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CIN No.: [Company Identification
No.] |
L45202WB1961PLC025181 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM08976C RCHM01882G |
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PAN No.: [Permanent Account No.] |
AABCM9443R |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is a leading Engineering Turnkey Projects Execution
Company. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 9380000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having a satisfactory track
record. The company has incurred a loss from its operations during 2014.
However, general financial position of the company seems to be decent. The rating also takes into consideration long and satisfactory track
record, qualified and experienced management of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Long Term Bank facilities = BBB |
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Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
14.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
14.10.2014 |
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
Contact No.: 91-33-66281111
LOCATIONS
|
Registered Office : |
4, Mangoe Lane, 7th
Floor, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22138901-05/ 08 / 22480847/ 0919/ 65500725-39 / 66281111 |
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Fax No.: |
91-33-22480340/ 22485016/ 22303519 |
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E-Mail : |
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Website : |
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Head/ Corporate Office : |
Ecospase, 11F/12 (Old Plot No. AA-II/Blk-3), New Town, Rajaarhat,
North 24, Parganas, Kolkata - 700156, West Bengal, India |
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Tel. No.: |
91-33-30141111/ 66281111 |
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Fax No.: |
91-33-30142277/ 66282277 |
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E-Mail : |
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Factory : |
Plot No.313, 3rd Phase, Malur Industrial Area, Malur, Kolar -
563130, Karnataka, India |
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Tel. No.: |
91-8151-292469-71/ 292171-74/ 292191 |
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Work and Sales Offices : |
· PO Kumardhubi, District Dhanbad - 828203, Jharkhand, India Tel. No.: 91-6540-273010 / 11 / 16 / 272235 / 197215 Fax : 91-6540-273024 / 273015 Email : mse.kdb@mbecl.co.in · Plot No.M-16, ADDA Industrial Area, PO R.K. Mission, Asansol – 713305, West Bengal, India Tel. No.: 91-341-6554031 / 6554490 Email : mse.asn@mbecl.co.in · 3rd Floor, Maruthi Towers, 9th Main, Ex. Chairman Layout, Banaswadi Main Road, Bangalore - 560034, Karnataka, India Tel. No.: 91-80-41153781-83 Fax : 91-80-41153784 Email : mse.blr@mbecl.co.in · Plot No 75-79, Savli Industrial Estate, GIDC, Alindra, District Vadodara - 391 775, Gujarat, India Tel. No.: 91-2661-2793650 Fax : 91-2661-2791914 Email: mse.brd@mbecl.co.in |
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Regional Offices : |
Located at: · Navi Mumbai · Faridabad · Chennai |
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Branch Offices : |
Located at: · Mumbai · Ernakulum · Kolkata · Nagpur · Secunderabad · Chennai · Visakhapatnam · Vijayawada |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Deepak Khaitan |
|
Designation : |
Executive Chairman |
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Address : |
10 Queens Park,
P.O. Ballygunge, Kolkata - 700019, West Bengal, India |
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Date of Birth/ Age : |
09.05.1955 |
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Date of
Appointment : |
15.09.2008 |
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DIN No.: |
00023780 |
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Name : |
Mr. Aditya Khaitan |
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Designation : |
Director |
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Address : |
10 Queens Park,
P.O. Ballygunge, Kolkata - 700019, West Bengal, India |
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Date of Birth/ Age : |
30.01.1968 |
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Date of
Appointment : |
23.09.2011 |
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DIN No.: |
00023788 |
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Name : |
Mr. Virendra Kumar Verma |
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Designation : |
Director |
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Address : |
69 Darya Ganj, Bharat Ram Road, New
Delhi - 110002, India |
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Date of Birth/ Age : |
02.11.1931 |
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Date of
Appointment : |
29.11.1978 |
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DIN No.: |
00766426 |
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Name : |
Mr. Utsav Parekh |
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Designation : |
Director |
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Address : |
2/3 Sarat Bose Road, P.O. Elgin Road, Kolkata - 700020,
West Bengal, India |
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Date of Birth/ Age : |
28.08.1956 |
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Date of
Appointment : |
10.09.2007 |
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DIN No.: |
00027642 |
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Name : |
Mr. Amritanshu Khaitan |
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Designation : |
Director |
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Address : |
10 Queens Park,
P.O. Ballygunge, Kolkata - 700019, West Bengal, India |
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Date of Birth/ Age : |
07.11.1982 |
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Date of
Appointment : |
23.09.2011 |
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DIN No.: |
00213413 |
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Name : |
Mr. Subir Ranjan Dasgupta |
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Designation : |
Director |
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Address : |
1 Peck Hay Road, # 12-03, Singapore - 228305, , Singapore |
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Date of
Appointment : |
21.06.2007 |
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DIN No.: |
01401511 |
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Name : |
Mr. Asim Kumar Barman |
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Designation : |
Director |
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Address : |
CL-35, Sector -II, Salt Lake,
Kolkata - 700091, West Bengal, India |
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Date of Birth/ Age : |
06.11.1948 |
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Date of
Appointment : |
01.12.2009 |
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DIN No.: |
02373956 |
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Name : |
Mr. Puranam Hayagreeva Ravikumar |
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Designation : |
Director |
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Address : |
501, Yashowan Towers, Behind Mahim Post Office, T. H. Kataria Marg, Mahim - West,
Mumbai - 400016, Maharashtra, India |
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Date of Birth/ Age : |
20.07.1951 |
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Date of Appointment
: |
23.09.2011 |
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DIN No.: |
00280010 |
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Name : |
Mr. Sudipto Sarkar |
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Designation : |
Director |
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Address : |
31, Broad Street, Kolkata
- 700019, West Bengal, India |
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Date of Birth/ Age : |
21.03.1946 |
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Date of
Appointment : |
06.05.2011 |
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DIN No.: |
00048279 |
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Name : |
Mr. Prasanta Kumar Chandra |
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Designation : |
Whole Time Director and Chief Operating Officer |
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Address : |
358, Jodhpur Park, Flat - 2A, Kolkata - 700068, West
Bengal, India |
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Date of Birth/ Age : |
01.02.1957 |
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Date of
Appointment : |
27.06.2011 |
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DIN No.: |
01919454 |
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Name : |
Mr. Prabir Ghosh |
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Designation : |
Whole Time Director and Group Chief Finance Office |
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Address : |
358, Jodhpur Park, Flat - 2A, Kolkata - 700068, West
Bengal, India |
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Date of Birth/ Age : |
04.06.1959 |
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Date of
Appointment : |
27.06.2011 |
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DIN No.: |
01912656 |
KEY EXECUTIVES
|
Name : |
Mr. Sukanta Chattopadhyay |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
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||
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(A) Shareholding of
Promoter and Promoter Group |
||
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|
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|
32021 |
0.08 |
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|
12037743 |
29.65 |
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|
12069764 |
29.73 |
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Total shareholding of
Promoter and Promoter Group (A) |
12069764 |
29.73 |
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(B) Public Shareholding |
||
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|
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|
2937435 |
7.24 |
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|
18770 |
0.05 |
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|
528309 |
1.30 |
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|
107487 |
0.26 |
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|
3592001 |
8.85 |
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|
|
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|
11106174 |
27.36 |
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Individual shareholders
holding nominal share capital up to Rs. 0.100 Million |
5448557 |
13.42 |
|
Individual shareholders holding
nominal share capital in excess of Rs. 0.100 Million |
7648060 |
18.84 |
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|
729262 |
1.80 |
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|
53032 |
0.13 |
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|
676230 |
1.67 |
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|
24932053 |
61.42 |
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Total Public shareholding
(B) |
28524054 |
70.27 |
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Total (A)+(B) |
40593818 |
100.00 |
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(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
40593818 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a leading Engineering Turnkey Projects
Execution Company. |
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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 : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
· Bank of India · IDBI Bank Limited · State Bank of India · Canara Bank · United Bank of India · UCO Bank · Oriental Bank of Commerce · Union Bank of India · ICICI Bank Limited · ING Vysya Bank Limited · Axis Bank Limited · The Karur Vysya Bank Limited · HDFC Bank Limited · Punjab National Bank · Yes Bank Limited · DBS Bank Limited · Development Credit Bank Limited ·
The Lakshmi Vilas Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Lovelock and Lewes Chartered Accountants |
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Solicitors : |
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Name: |
· Khaitan and Company · S K Sawday and Company |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries of the Company : |
· MBE Coal and Minerals Technologies India Private Limited (formerly Humbolt Wedag Minerals India Private Limited) · McNally Sayaji Engineering Limited (MSEL) · McNally Bharat Equipments Limited (MBEL) · McNally Bharat Infrastructure Limited (MBIL) · MBE Mineral Technologies Pte Limited (formerly MBE Holdings Pte Limited) · MBE Minerals Zambia Limited · McNally Bharat Engineering (SA) Proprietary Limited |
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Subsidiaries of MBE Mineral Technologies Pte Limited : |
· MBE Coal and Minerals Technologies Gmbh · MBE Cologne Engineering Gmbh · MBE EWB Technologiai Kft |
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Subsidiaries of MBE Coal and Mineral Technology GmbH : |
· MBE Mineral Processing Technology (Beijing) Company Limited · MBE Mineral Processing of Brazil Ltda · PT MBE Coal and Minerals Technology, Indonesia · MBE Minerals S.A. Pty Limited · OOO MBE OUM, Russia · Coal and Mineral Technology Holding Gmbh, Germany |
CAPITAL STRUCTURE
As on 30.07.2014
Authorised Capital : Rs. 1900.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 408.438
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Million |
|
12000000 |
11.50% Non-Convertible Redeemable Preference Shares |
Rs.100/- each |
Rs.1200.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.1600.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31093818 |
Equity Shares |
Rs.10/- each |
Rs.310.938
Million |
|
975000 |
11.50% Non-Convertible Redeemable Preference Shares |
Rs.100/- each |
Rs.97.500
Million |
|
|
|
|
|
|
|
Total |
|
Rs.408.438 Million |
Reconciliation of
Number of Equity Shares:
There was no movement of equity share capital during the year.
Reconciliation of
Number of 11.50%
Non-Convertible Redeemable
Preference Shares:
|
Equity Shares |
AS AT 31.03.2014 |
|
|
Number
of Shares |
Rs. In Million |
|
|
At the beginning of the year |
825000.00 |
82.500 |
|
Add : Issued during the year |
150000.00 |
15.000 |
|
At the end of the year |
975000.00 |
97.500 |
Right and
restrictions attached to shares:
Equity Shares: The Company has
one class of equity shares having a par value of Rs.10 per share. 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.
Preference Shares: During the year
the company has issued cumulative, non-convertible redeemable preference shares
of Rs.100 each at a coupon rate of 11.50% p.a. Tenure of these preference
shares is 7 years from the date of issue.
The Company does not have a holding company.
Details of shares
held by shareholders holding more than 5% of the aggregate Equity shares in the
Company.
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of Equity
Shareholder |
AS AT 31.03.2014 |
|
|
Number
of Shares |
% holding |
|
|
Williamson Magor and Company Limited |
1879748 |
6.05% |
|
Mcleod Russel India Limited |
3052295 |
9.82% |
Details of shares
held by shareholders holding more than 5% of the aggregate 11.50%
Non-Convertible Redeemable Preference shares in the Company
|
Name of
Preference Shareholders |
AS AT 31.03.2014 |
|
|
No. of Shares |
% of Holding |
|
|
Tata Capital Financial Services Limited |
625000 |
64.10% |
|
Brijesh Kumar Biyani |
100000 |
10.26% |
|
Vyana Advisory Private Limited |
-- |
0.00% |
|
Rahul Mohindar |
50000 |
5.12% |
|
Vinay Mohindar |
100000 |
10.26% |
|
Mridula Mohata |
100000 |
10.26% |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
408.438 |
393.438 |
310.938 |
|
(b) Reserves & Surplus |
2874.518 |
3612.528 |
2974.540 |
|
(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) |
3282.956 |
4005.966 |
3285.478 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
726.556 |
345.903 |
359.086 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
8.784 |
64.973 |
3.348 |
|
(d) long-term
provisions |
811.648 |
760.940 |
513.263 |
|
Total Non-current
Liabilities (3) |
1546.988 |
1171.816 |
875.697 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
9271.545 |
6106.685 |
3450.217 |
|
(b) Trade
payables |
10071.019 |
9516.256 |
7680.673 |
|
(c) Other
current liabilities |
7259.155 |
5642.367 |
6263.383 |
|
(d) Short-term
provisions |
851.300 |
122.720 |
232.112 |
|
Total Current Liabilities
(4) |
27453.019 |
21388.028 |
17626.385 |
|
|
|
|
|
|
TOTAL |
32282.963 |
26565.810 |
21787.560 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1315.938 |
1284.549 |
1142.436 |
|
(ii)
Intangible Assets |
10.553 |
19.115 |
27.168 |
|
(iii)
Capital work-in-progress |
70.996 |
88.900 |
1.080 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1983.289 |
1928.374 |
1742.882 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
288.416 |
131.013 |
130.018 |
|
(e) Other
Non-current assets |
51.627 |
6.427 |
0.000 |
|
Total Non-Current
Assets |
3720.819 |
3458.378 |
3043.584 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.702 |
0.702 |
|
(b)
Inventories |
937.962 |
882.635 |
634.246 |
|
(c) Trade
receivables |
14317.339 |
14559.849 |
13330.631 |
|
(d) Cash
and cash equivalents |
273.209 |
133.956 |
120.771 |
|
(e)
Short-term loans and advances |
3234.526 |
2807.218 |
2522.732 |
|
(f) Other
current assets |
9799.108 |
4723.072 |
2134.894 |
|
Total
Current Assets |
28562.144 |
23107.432 |
18743.976 |
|
|
|
|
|
|
TOTAL |
32282.963 |
26565.810 |
21787.560 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
21437.795 |
21832.478 |
20792.031 |
|
|
|
Other Income |
117.310 |
73.073 |
120.555 |
|
|
|
TOTAL (A) |
21555.105 |
21905.551 |
20912.586 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
9505.348 |
11244.019 |
10631.048 |
|
|
|
Outsourcing expenses to outsiders for job work |
5668.554 |
5136.682 |
5292.211 |
|
|
|
Employees benefits expense |
1584.684 |
1615.383 |
1439.796 |
|
|
|
Other expenses |
3016.806 |
2207.141 |
2030.768 |
|
|
|
TOTAL (B) |
19775.392 |
20203.225 |
19393.823 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
1779.713 |
1702.326 |
1518.763 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1512.369 |
1000.346 |
628.064 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
267.344 |
701.980 |
890.699 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
190.992 |
135.771 |
105.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
76.352 |
566.209 |
785.386 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
801.238 |
179.928 |
128.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(724.886) |
386.281 |
656.460 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2308.835 |
1969.345 |
1363.470 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Equity Shares |
0.000 |
31.094 |
31.094 |
|
|
|
Dividend Distribution Tax on Proposed Dividend on Equity Shares |
0.000 |
5.284 |
2.991 |
|
|
|
Dividend on Preference Shares |
10.876 |
0.646 |
0.000 |
|
|
|
Dividend Distribution Tax on Dividend on Preference Shares |
1.848 |
0.110 |
0.000 |
|
|
|
Transfer to General Reserve |
0.000 |
9.657 |
16.500 |
|
|
BALANCE CARRIED
TO THE B/S |
1571.225 |
2308.835 |
1969.345 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Contracts |
45.482 |
153.927 |
928.039 |
|
|
|
Corporate Guarantee commission |
56.631 |
36.736 |
0.000 |
|
|
|
Interest Income |
6.757 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
108.870 |
190.663 |
928.039 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Stores parts |
382.277 |
643.142 |
603.068 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.666 |
|
|
TOTAL IMPORTS |
382.277 |
643.142 |
603.734 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(23.72) |
12.40 |
21.11 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
30.09.2014 |
31.12.2014 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
4097.400 |
5633.300 |
4579.100 |
|
Total Expenditure |
3759.300 |
5069.300 |
4349.100 |
|
PBIDT (Excl OI) |
338.100 |
564.000 |
230.000 |
|
Other Income |
21.300 |
14.600 |
19.900 |
|
Operating Profit |
359.400 |
578.600 |
249.900 |
|
Interest |
452.000 |
549.300 |
515.700 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
(92.600) |
29.300 |
(265.800) |
|
Depreciation |
50.400 |
112.600 |
62.500 |
|
Profit Before Tax |
(143.000) |
(83.300) |
(328.300) |
|
Tax |
0.000 |
0.000 |
0.000 |
|
Provisions and
contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(143.000) |
(83.300) |
(328.300) |
|
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 |
(143.000) |
(83.300) |
(328.300) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(3.38) |
1.77 |
3.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.30 |
7.80 |
7.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.25 |
2.31 |
3.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.14 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.05 |
1.61 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.08 |
1.06 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
310.938 |
393.438 |
408.438 |
|
Reserves & Surplus |
2974.540 |
3612.528 |
2874.518 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
3285.478 |
4005.966 |
3282.956 |
|
|
|
|
|
|
long-term borrowings |
359.086 |
345.903 |
726.556 |
|
Short term borrowings |
3450.217 |
6106.685 |
9271.545 |
|
Total borrowings |
3809.303 |
6452.588 |
9998.101 |
|
Debt/Equity ratio |
1.159 |
1.611 |
3.045 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
20792.031 |
21832.478 |
21437.795 |
|
|
|
5.004 |
(1.808) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
20792.031 |
21832.478 |
21437.795 |
|
Profit/Loss |
656.460 |
386.281 |
(724.886) |
|
|
3.16% |
1.77% |
(3.38%) |
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 |
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10538604 |
11/11/2014 |
4,930,000,000.00 |
IDBI BANK LIMITED |
CBG KOLKATA MAIN BRANCH, IDBI HOUSE, 44 SHAKESPEA |
C38041851 |
|
2 |
10512072 |
10/07/2014 |
1,000,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE RO |
C14490932 |
|
3 |
10511562 |
03/07/2014 |
600,000,000.00 |
CANARA BANK |
BELLS HOUSE, GROUND FLOOR,, 21, CAMAC STREET, KOL |
C14034862 |
|
4 |
10507129 |
28/06/2014 |
3,900,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, 3RD FLOOR, AC MARKET, 1 |
C09936345 |
|
5 |
10506299 |
05/06/2014 |
1,340,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH,, 5, B.T.M. SARANI |
C09456195 |
|
6 |
10500703 |
27/05/2014 |
1,250,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES, 4 INDIA EXCHANGE PL |
C05433545 |
|
7 |
10495866 |
14/05/2014 |
33,960,000,000.00 |
BANK OF INDIA (LEAD BANK) |
KOLKATA LARGE CORPORATE BRANCH,, 5, B.T.M SARANI, |
C04812103 |
|
8 |
10495104 |
13/05/2014 |
500,000,000.00 |
INDUSIND BANK LTD. |
SAVITRI TOWER, 3A UPPER WOOD STREET, KOLKATA, WES |
C04637609 |
|
9 |
10461368 |
13/11/2013 |
560,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE CORPORATE BRANCH,, 5, B.T.M. SARANI |
B90016551 |
|
10 |
10463412 |
07/11/2013 |
2,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 44, PARK STREET, KOLKATA, |
B90810045 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
From Others |
148.500 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Term Loan |
|
|
|
From Bank |
950.000 |
0.000 |
|
From Others |
510.000 |
0.000 |
|
|
|
|
|
Working Capital
Loan |
|
|
|
Cash Credit from Banks |
10.924 |
417.219 |
|
Working capital demand loan from banks |
550.000 |
0.000 |
|
Packing Credit in Foreign Currency |
0.000 |
453.872 |
|
Commercial Paper |
0.000 |
250.000 |
|
Deposit (Inter Corporate) |
260.000 |
0.000 |
|
Total |
2429.424 |
1121.091 |
GENERAL
INFORMATION
Subject is a leading Engineering Turnkey Projects Execution Company in India. The Company’s Shares are listed on National Stock Exchange and Bombay Stock Exchange.
BUSINESS PERFORMANCE
Inspite of being the most challenging year in the last decade, 2013-14 has turned out to be yet another satisfactory year with respect to the order intake, when The Company could book fresh order of Rs. 39800.000 Million However, the turnover reduced marginally to Rs. 21550.000 Million compared to last year's turnover of Rs.21900.000 Million This has been primarily due to the working capital shortage and credit crunch faced by many of their Clients resulting in further increase in their borrowings and higher interest charges.
ACTIVITY HIGHLIGHTS
During the year, a number of significant, complex and large value
projects were commissioned including Balance of Plant (BOP) projects viz.,Vizag
Sinter Plant (SP-III),IISCO Coke Oven By-product plant, Coke Handling and
Inter-plant packages for SAIL, Rourkela etc.
The new initiative taken by The Company in the last year in marketing
activities have started yielding results and The Company has been able to book
fresh orders of approx. Rs. 40000.000 Million in various sectors this year,
which is a record in the Company's history. The Company made an inroad into
Petrochemical refineries last year and have further been able to enter into
this sector by booking three prestigious projects from Bharat Petroleum for
their Kochi Refinery.
The Company has been consistently putting efforts towards improvement in
Quality and Occupational Health and Safety Standards. MBECL already has ISO
9001-2008 and ISO14001-2004 Certifications. Their Laboratory is certified by
NABL for non-destructive testing. Their OH&S Management System (OHSMS) has
been certified this year by BS OHSAS 18001:2007. Their quality and safety
standards maintained by us during execution of 9,000 TPD Cement Plant project
at Jamul for ACC under HOLCIM Standard and BPCL Refinery at Mahul have been
highly appreciated.
For the second successive year, they have received prestigious Safety
Awards from the Royal Society for Prevention of Accidents (RoSPA), UK. The
awards are RoSPA International Silver awards for their BOP Satpura Project and
Sagardighi Thermal Power Plant CHP for best safety performance on Occupational
Health and Safety 2014. Furthermore, they have received a number of Domestic
Customer Safety Awards for Bongaigaon CHP and AHP from NTPC, TPLKalinganagar
from TATA Power Ltd., GAP Lapanga from HINDALCO, Mauda Water from NTPC, BPCL
Mahul from BPCL/EIL, OandM -Adani Power from Adani etc. for their excellent
safety performances.
MANAGEMENT DISCUSSION AND ANALYSIS
OVERVIEW
While India's GDP growth fell to sub-5% level for the second successive years, a phenomenon which last happened in pre-reform era almost 25 years ago, the macroeconomic environment is expected to improve, with growth likely to accelerate gradually over the next two years. Speed of economic recovery could be impacted by the country's present vulnerabilities-high headline inflation, an elevated current account deficit, and rising pressure on fiscal balances from the depreciation of the rupee, high interest cost and degree of monsoon. However, after the General election 2014, there being a strong and stable Government in place, it is expected to have some major policy decision from the Government in various areas including coal, power, infrastructure etc, which is expected to boost the economy to a great extent, subject to normal level of monsoon. Economic activity is expected to pick up in the second half of FY 2014,. Moreover, core inflation is trending down and exports are likely to benefit substantially from the rupee’s depreciation. However, with the currencies of many other emerging economies weakening against the dollar, lasting improvements in export competitiveness will require policy efforts to fully take advantage of the emerging global opportunities.
Although the recent turmoil in global markets has amplified India's macroeconomic vulnerabilities, the country's potential remains high. In fact, the current economic turmoil provides the economy with an opportunity to accelerate growth momentum through further reforms that improve the business environment, strengthen the banking and financial sector, narrow the infrastructure gap, and enhance fiscal space.
Due to implementation delays in absence of policy decision from the Government such as environment clearances, coal linkage etc. many construction and infrastructure projects in all parts of the country have not taken off as expected. The slowing economic growth has also put the brakes on consumption-driven sectors such as automobiles and consumer durables. However, the pace is expected to pick up from 2014-15 particularly in keyend-user sectors such as construction, infrastructure and automobiles. Economic growth is likely to accelerate in the next fiscal as the reform process continues and begins to bear fruit. The pick-up will be aided by implementation of stalled projects, debottlenecking of the mining sector and a recovery in industry on higher demand.
The increased focus of government and corporate sectors on using innovative production techniques for increasing operational as well as financial performance is expected to bring about a 5 - 5.5% growth in the GDP in the current fiscal. As a result, the investments by domestic players in expanding and upgrading the manufacturing facilities in order to reduce the reliance on imports are expected to open up significant business opportunities for the Company.
A sector wise analysis of the areas where the Company is active is given below.
POWER
Electricity production in India recorded a 4 per cent growth in FY2013 over the previous fiscal. Over FY 07-13, electricity production expanded at a compound annual growth rate (CAGR) of 5.5 per cent. The Planning Commission's 12th Plan projects that total domestic energy production would reach 669.6 million tonnes of oil equivalent (MTOE) by 2016-17 and 844 MTOE by 2021-22.
The growth in energy demand in India would be the highest among all countries by 2030-35, beating even China, according to the 2014 energy outlook report by British oil giant BP.
The investment climate is very positive in the power sector. The erstwhile power ministry has set a target for adding 76,000 MW of electricity generation capacity in the12th Plan (2012-17) and 93,000 MW in the 13th Plan (2017-2022). With the merging of coal and power under one single ministry in the present Government, it is expected that policy and decision making will be quicker and more efficient The Working group on power for formulation of the 12th Five Year Plan has estimated total fund requirement of Rs1,372,580 crore (US$ 227.98 billion) for the power sector. The industry attracted foreign direct investment (FDI) worth Rs 40,417.6 crore (US$ 6.72 billion) during April 2000 to January 2014.
STEEL
Due to policy paralysis during last few years, one of the most affected industry was Steel. In absence of efficient Mining, environment and Land policy, the mining of both coal, Iron Ore and other minerals required for the production of Steel, affected severally, which indirectly slowed down the Metallurgical Industry including Steel. Now with the expected change in policy decision and infrastructure development being one of the major focused area, there is huge potential for growth of this industry. The country is slated to become the second largest producer of steel by 2020 as large public and private sector players are set to strengthen steel production capacity.
The installed capacity of Steel is expected to increase to 142 Million TPA by 2018based on the assumption of 8% GDP growth.
Most of the additional capacity will be created in the Private sector, apart from a few in the public sector. The Company's experience of execution of EPC packages including raw material handling, Sinter plant, Coke Oven By-products recovery plant and coke oven batteries is expected to play a significant role in securing orders in this sector.
METALS AND MINING
THE COMPANY is a market leader in Mineral Beneficiation in India, having set up most of the plants for Copper, Lead and Zinc in India and have executed two copper projects inKonkola Mines, Zambia.
Consumption of refined copper has been growing @ 10% annually and is projected to be1.2 million tons by 2015-16. All the manufacturers, Hindusthan Copper, Sterlite andBirla have indicated expansion plans to meet the demand.
For Non Ferrous metal beneficiation the focus is more on export markets due to huge reserves of ores available : Zambia and Congo for copper and Tanzania, Congo, Ghana, Guinea and Mali for Nickel and gold. In South America, investments are planned for copper, Lead - Zinc and Phosphate processing in Chile and Peru.
Due to strategic reasons, there is significant thrust on exploration and processing of Uranium ore, where the Company has strong credentials.
Government of India's restrictions on export of Iron Ore dust, and coming up with policies for its utilisation has given a boost to the Iron Ore Beneficiation industry.
Domestic Iron Ore beneficiation market holds good potential with SAIL taking up new projects in Gua, Bolani, Tasra, Kiriburu Mines, which includes beneficiation. Existing SAIL Producing Units like RSP and bSp have also embarked upon in-house pelletisation facilities, which would require ore beneficiation facilities.
Coal India is currently reviewing their Contracting strategy for Coal Washeries, whichis expected to open up the dormant market for coal washeries, in view of Power Plant requirements for clean coal.
PORTS AND SHIPYARDS
The current capacity of Indian Ports is around 813 Million Tons per year (MTPA) and capacity addition of 775 MTPA is planned by 2017. The demand for port cranes is a sum of requirement from new capacity as well as replacement of existing old cranes.
The Company has a license agreement with Kone Cranes to manufacture and supply Port and Shipyard cranes, with Poltegor for Stacker Reclaimers and Famac for Wagon Tipplers. Container Handling is a growing market in Ports, Inland Container Depots (ICD) and Container Freight Stations (CFS). The Company plans to tie-up with reputed International companies for manufacturing container handling equipment like Reach Stackers, Rubber Tyred Gantry cranes and Rail mounted quay cranes.
CEMENT
India's potential in infrastructure is vast and cement plays a vital role in the growth and development of the nation. India is the second largest producer of cement in the world. The cement industry has been expanding on the back of increasing infrastructure activities and demand from housing sector over the past many years.
Cement consumption in India is expected to rise by 8-9 per cent over the next year, taking the estimated cement consumption in 2013-14 to about 280-285 MT, from around 260 MTin the 2012-13 fiscal, as per the Cement Manufacturers Association (CMA).
The Indian cement sector is expected to witness positive growth in coming years, with demand set to increase at compound annual growth rate (CAGR) of more than 8 percent during2013-14 to 2015-16, according to RNCOS report titled, 'Indian Cement IndustryOutlook2016'.
The cement and gypsum products sector in India has attracted foreign direct investments (FDI) worth US$ 2,879.95 million between April 2000 to November 2013, according to data published by the Department of Industrial Policy and Promotion (DIPP).
Currently the total installed capacity is 320 Million Tons and projected to increase to480 Million Tons by 2017. THE COMPANY has recently made a significant breakthrough by bagging an order to build a cement plant for Holcim group of companies on turnkey basis. After successful implementation of this project, the Company hopes to make further breakthroughs in this new business segment.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
In Million) |
|
|
|
|
|
(a) Claims against the company not acknowledged as debt |
10.000 |
10.000 |
|
(b) Other money for which the Company is contingently
liable: |
|
|
|
(i) Excise Duty
matters pending in appeal related to issues of applicability and
classification |
13.000 |
13.000 |
|
(ii) Sales Tax/VAT
matters pending in appeal relating to disputes regarding assessable value and
exemptions claimed |
995.700 |
92.200 |
|
(iii) Service Tax
Matters pending in appeal relating to issues of applicability |
2.700 |
2.100 |
|
(iv) Income tax
matters pending in appeal relating to disputes regarding the taxable value
and the deductions claimed |
134.000 |
-- |
|
(v) Corporate
guarantees given in favour of Subsidiary Companies |
1299.700 |
3291.200 |
|
(vi) Other
guarantees given |
173.200 |
320.000 |
|
(vii) Standby
letter of credit |
325.200 |
167.000 |
|
(viii) Liquidated damages relating to contract sales |
Amount not
readily ascertainable |
Amount not
readily ascertainable |
STATEMENT
OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND 9 MONTHS ENDED 31ST
DECEMBER, 2014
(Rs. In Million)
|
Particulars |
3 Months Ended |
Preceding 3 Months Ended |
Year to date figures for current year ended |
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
Income from operations |
|
|
|
|
Net Sales/Income from Operations (Net of Excise Duty) |
4565.200 |
5624.100 |
14279.900 |
|
Other operating income |
13.900 |
9.200 |
29.900 |
|
Total Income from Operations (Net) |
4579.100 |
5633.300 |
14309.800 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
-- |
-- |
-- |
|
Cost of Materials
Consumed |
1831.000 |
2799.400 |
6235.100 |
|
Purchases of
Stock-in-Trade |
-- |
-- |
-- |
|
Outsourcing expenses to
outsiders for job work |
1801.200 |
1336.300 |
4252.500 |
|
Employees benefits
expense |
323.600 |
339.500 |
1016.400 |
|
Depreciation and amortisation
expenses |
62.500 |
112.600 |
225.500 |
|
Other expenses |
593.300 |
594.100 |
1673.900 |
|
Total Expenses |
4411.800 |
5181.900 |
13403.400 |
|
|
|
|
|
|
Profit/ (Loss) From Operations before Other Income, finance cost,
provision for onerous contracts and exceptional items |
157.500 |
451.400 |
906.400 |
|
Other Income |
18.900 |
14.600 |
55.800 |
|
Profit/ (Loss) from Ordinary Activities before Finance Cost, provision
for onerous contracts and Exceptional Items |
187.400 |
466.000 |
962.200 |
|
Finance Cost |
515.700 |
549.300 |
1517.000 |
|
Profit/ (Loss) from Ordinary Activities after Finance Cost but before
provision for Onerous Contracts and Exceptional Items |
(328.300) |
(83.300) |
(554.800) |
|
Provision for Onerous Contracts |
-- |
-- |
-- |
|
Profit/ (Loss) From Operations after Provision for Onerous Contracts
but before Exceptional Items |
(328.300) |
(83.300) |
(554.800) |
|
Exceptional Items |
-- |
-- |
-- |
|
Net Profit /(Loss) from ordinary activities before tax |
(328.300) |
(83.300) |
(554.800) |
|
Tax Expense |
-- |
-- |
-- |
|
Net Profit/ (Loss) from ordinary activities after tax |
(328.300) |
(83.300) |
(554.800) |
|
Extraordinary Items (net of tax expense Rs. Nil) |
-- |
-- |
-- |
|
Paid-up Equity Share Capital
(Face Value of the share Rs. 10) |
310.900 |
310.900 |
310.900 |
|
Reserves Excluding Revaluation Reserve (as per Balance Sheet of
previous accounting year) |
-- |
-- |
-- |
|
EPS before and after Extraordinary items |
|
|
|
|
Basic EPS (Rs.) |
(10.66) |
(2.79) |
(18.16) |
|
Diluted EPS (Rs.) |
(10.66) |
(2.79) |
(18.16) |
|
Particulars |
3 Months Ended |
Preceding 3 Months Ended |
Year to date figures for current year ended |
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
21048054 |
21048054 |
21048054 |
|
- Percentage of shareholding |
67.69 |
67.69 |
67.69 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
9187743 |
9187743 |
9187743 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
9.46 |
91.46 |
91.46 |
|
Percentage of shares (as a % of total share capital of the
company) |
29.55 |
29.55 |
29.55 |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
858021 |
858021 |
858021 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
8.54 |
8.54 |
8.54 |
|
Percentage of shares (as a % of total share capital of the
company) |
2.76 |
2.76 |
2.76 |
|
B.
Investor Complaints (Nos.) |
3
month ended 31.12.2014 |
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
2 |
|
Disposed of during the quarter |
2 |
|
Remaining unreserved at the end of the quarter |
Nil |
NOTE
1. The above unaudited results have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on February 13, 2015.
2. The operation of the Company is a single segment, hence segment reporting as
defined in Accounting Standard 17 is considered not applicable.
3. Project business is subject to quarter to quarter variations and one quarter's
performance in isolation does not necessarily indicate full year's performance.
4. Deferred tax asset has been recognised to the extent of deferred tax
liability.
5. The Company has charged depreciation in keeping with the requirements of
Schedule II to the Companies Act, 2013. Consequently depreciation charge for
the quarter and nine months ended December 31, 2014 is higher by Rs. 75.600
Million, Revenue by Rs. 42.100 Million and Loss from ordinary activities higher
by Rs. 33.500 Million with corresponding decrease in net asset by equal amount.
6. Excess remuneration pays to certain Managerial Personnel of Rs. 13.569
Million and Rs. 0.800 Million pertaining to the year 2013-14 have been refunded
by the manager pursuant to Central Government letter dated December 31, 2014
and have been created to Employee Benefit Expenses during the current quarter.
7. Previous year's figures have been regrouped/rearranged
wherever necessary.
FIXED ASSETS
TANGIBLE ASSETS
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
INTANGIBLE ASSETS
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
48 |
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.