MIRA INFORM REPORT
|
Report No. : |
351780 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRI BAJRANG POWER AND ISPAT LIMITED |
|
|
|
|
Registered
Office : |
Village Borjhara, Urla Guma Road, Urla Growth Center, Raipur – 493221,
Chhattisgarh |
|
Tel. No.: |
91-771-4288029 / 4288019 / 39 |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.07.2002 |
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|
|
|
Com. Reg. No.: |
33-015184 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs. 129.930 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106CT2002PLC015184 |
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|
|
|
IEC No.: |
1104003082 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCB2944D |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of Sponge Iron, Billets, Pellets, TMT Bars, and Wire rod, Filter Cake, Ferro Alloys and Generation of Electricity. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12430000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 2002 and it is engaged in
producing of electricity. It also engaged in the manufacturing of ferro
alloys, fly ash bricks, sponge iron, billets and power system. For the financial year ended 2014, company has reported 43.49% revenue
growth as compared to previous revenue and it has maintained average
profitability margins at 2.71% during the year under a review. Ratings continue to draw strength from the experienced management and
long track record of the company operations along with its above average
financial profile and sound coverage indicators. However, rating strength is partially offset by volatility in prices
of inputs and finished goods, intense competition from unorganized players,
high working capital utilization and cyclicality in the steel industry. Trade relations are reported fair. Payment terms are reported to be
usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB+” (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
24.03.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A2” (Suspended) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
24.03.2015 |
Reason for suspension: Strong degree of safety and low credit risk.
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
31-03-2015.
LOCATIONS
|
Registered Office/ Factory : |
Village Borjhara, Urla Guma Road, Urla Growth Center, Raipur – 493221,
Chhattisgarh, India |
|
Tel. No.: |
91-771-4288029 / 4288019 / 39 |
|
Mobile No.: |
91-9826422500 (Mr. Narendra Goel) |
|
Fax No.: |
91-771-4288123 / 2323601 / 602 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Branch Office / TMT Division : |
KH. No 2/3, Village Gondwara, Urla Industrial Area, Raipur – 493221,
Chhattisgarh, India |
|
Tel. No.: |
91-771-4288111 |
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Fax No.: |
91-771-4288150 |
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E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Suresh Goel |
|
Designation : |
Director |
|
Address : |
Gharonda, Ravi Nagar, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
25.05.1950 |
|
Qualification : |
B.com |
|
Date of Appointment : |
25.01.2007 |
|
PAN No.: |
ACZPG8043L |
|
DIN No.: |
00115834 |
|
|
|
|
Name : |
Mr. Rajendra Goel |
|
Designation : |
Additional Director |
|
Address : |
Ravi Nagar, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
20.09.1956 |
|
Qualification : |
B.com |
|
Date of Appointment : |
25.08.2002 |
|
PAN No.: |
ACZPG8043L |
|
DIN No.: |
01263958 |
|
|
|
|
Name : |
Mr. Narendra Goel |
|
Designation : |
Managing Director |
|
Address : |
F-6, Anupam Nagar, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
10.10.1959 |
|
Qualification : |
B.com |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AHDPG8042M |
|
DIN No.: |
00115883 |
|
|
|
|
Name : |
Mr. Shravan Kumar Goyal |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 4C, Block “C”, Mallika Merlin Jaishree Vihar, New Mandi Road,
Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
30.05.1965 |
|
Qualification : |
B.E.(Electrical) |
|
Date of Appointment : |
01.10.2011 |
|
DIN No.: |
01829618 |
|
|
|
|
Name : |
Mr. Hari Anant Ghanekar |
|
Designation : |
Independent Director |
|
Address : |
13-A, Alkapuri, Habibganj, Bhopal - 462001, Madhya Pradesh, India |
|
Date of Birth/Age : |
13.06.1938 |
|
Qualification : |
B.SC, BE (Electrical) |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02027948 |
|
|
|
|
Name : |
Mr. Hemandra Nath |
|
Designation : |
Independent Director |
|
Address : |
J-205, Shivalik Nagar, B.H.E.L., Haridwar – 261005, Uttranchal, India |
|
Date of Birth/Age : |
26.12.1942 |
|
Qualification : |
B.SC Metallurgical Engineering, DIIT(Heat Treatment Technology) and
Ph. D IIT Bombay |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
02020546 |
|
|
|
|
Name : |
Mr. Raj Kumar Yadava |
|
Designation : |
Director |
|
Address : |
C-13, Staff Colony, Malviya National Institute of Technology, Jaipur –
302017, Rajasthan, India |
|
Date of Birth/Age : |
03.06.1945 |
|
Qualification : |
B. Tech, M. Tech |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
03177450 |
|
|
|
|
Name : |
Mr. Kailash Chandra Thatoi |
|
Designation : |
Director |
|
Address : |
Plot No. 17, Arya Bhoomi Housing Complex, Patia, Bhubaneshwar –
751024, Odisha, India |
|
Date of Birth/Age : |
05.01.1957 |
|
Qualification : |
ME Phd. |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
01623494 |
KEY EXECUTIVES
|
Name : |
Pawan Goel |
|
Designation : |
Chief Financial Officer |
|
Address : |
Ravi Nagar, Pandri, Raipur - 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
03.12.1985 |
|
Date of Appointment : |
12.05.2014 |
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PAN No.: |
AJUPG1826F |
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|
|
|
Name : |
Chandrakant Shah |
|
Designation : |
Secretary |
|
Address : |
B/504, Harshit Jwels, Near C.G. Public School, Hirapur
Road, Tatibandh, Raipur - 492099, Chhattisgarh, India |
|
Date of Birth/Age : |
14.09.1990 |
|
Date of Appointment : |
12.05.2014 |
|
PAN No.: |
EYPPS8506E |
MAJOR SHAREHOLDERS
As on 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
58.28 |
|
Directors or relatives of Directors |
24.55 |
|
Others |
17.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Sponge Iron, Billets, Pellets, TMT Bars, and Wire rod, Filter Cake, Ferro Alloys and Generation of Electricity. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Bank of Baroda, Mid Corporate Branch, IInd Floor, LIC Investment Building, Raipur - 492001, Chhattisgarh, India · State Bank of India, Commercial Branch, Mp Housing Board Colony Industrial Estate, Bhilai - 490026, Chhattisgarh, India ·
Karnataka Bank Limited, Plot No.2, Fafadih
Chowk, Jail Road, Raipur - 492009, Chhattisgarh, India |
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Facilities : |
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Auditors : |
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|
Name : |
R.K. Singhania and Associates Chartered Accountants |
|
Address : |
205, 1st Floor, Samta Colony, Raipur - 492001, Chhattisgarh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFR3093N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates: |
· Shri Bajrang Hydro Energy Private Limited · Shri Bajrang Alloys Limited · S. B. Multimedia Private Limited · Shri Bajarang Ispat And Plywood Limited · Shimmer Investments Private Limited · Swastik Mercantiles Limited · Shri Bajrang Steel And Power Limited · IA Energy Private Limited · Shri Kishan Rolling Mill · J.J. Re-Rollers · Bajrang Rice Mills · Jainarayan Hariram · Goel Charitable Trust · I A Energy (Partnership Firm) · Suresh Goel and Brothers · S B Power (Partnership Firm) |
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Subsidiary Company
: |
Shri Bajrang Energy Private Limited |
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Joint Venture : |
Chhattisgarh Captive Coal Mining Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13071155 |
Equity Shares |
Rs.10/- each |
Rs. 130.712 Million |
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12993030 |
Equity Shares |
Rs.10/- each |
Rs. 129.930 Million |
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 |
129.930 |
129.137 |
112.892 |
|
(b) Reserves & Surplus |
4196.294 |
3855.919 |
3148.104 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
25.000 |
50.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4351.224 |
4035.056 |
3260.996 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4212.139 |
4388.690 |
1753.770 |
|
(b) Deferred tax liabilities (Net) |
70.389 |
157.796 |
52.972 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
17.439 |
11.974 |
6.718 |
|
Total Non-current
Liabilities (3) |
4299.967 |
4558.460 |
1813.460 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3100.427 |
2210.490 |
1715.379 |
|
(b) Trade
payables |
1295.418 |
402.954 |
595.416 |
|
(c) Other
current liabilities |
1348.100 |
1204.234 |
649.869 |
|
(d) Short-term provisions |
35.270 |
31.293 |
50.003 |
|
Total Current
Liabilities (4) |
5779.215 |
3848.971 |
3010.667 |
|
|
|
|
|
|
TOTAL |
14430.406 |
12442.487 |
8085.123 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7832.618 |
6410.745 |
2632.183 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
905.424 |
1623.510 |
1374.292 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
151.507 |
149.121 |
607.336 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
208.560 |
215.883 |
451.827 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
9098.109 |
8399.259 |
5065.638 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2310.016 |
1793.113 |
1625.389 |
|
(c) Trade
receivables |
528.266 |
404.178 |
764.943 |
|
(d) Cash
and cash equivalents |
218.023 |
66.808 |
59.575 |
|
(e)
Short-term loans and advances |
1933.686 |
1665.849 |
552.744 |
|
(f) Other
current assets |
342.306 |
113.280 |
16.834 |
|
Total
Current Assets |
5332.297 |
4043.228 |
3019.485 |
|
|
|
|
|
|
TOTAL |
14430.406 |
12442.487 |
8085.123 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
11640.170 |
8103.514 |
8141.590 |
|
|
Other Income |
33.286 |
15.283 |
44.823 |
|
|
TOTAL |
11673.456 |
8118.797 |
8186.413 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
8535.439 |
6383.024 |
6745.581 |
|
|
Purchases of Stock-in-Trade |
477.727 |
168.706 |
28.954 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
73.834 |
(116.410) |
(220.743) |
|
|
Employees benefits expense |
350.151 |
209.367 |
169.214 |
|
|
Other expenses |
654.057 |
681.358 |
642.245 |
|
|
TOTAL |
10091.208 |
7326.045 |
7365.251 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1582.248 |
792.752 |
821.162 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
868.811 |
229.114 |
271.409 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
713.437 |
563.638 |
549.753 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
668.270 |
265.044 |
248.236 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
45.167 |
298.594 |
301.517 |
|
|
|
|
|
|
|
Less |
TAX |
(270.625) |
61.887 |
1.534 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
315.792 |
236.707 |
299.983 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
14.662 |
75.131 |
22.616 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
24.15 |
18.10 |
27.94 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
674.325 |
552.021 |
327.205 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
1688.820 |
456.264 |
825.475 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.71 |
2.92 |
3.68 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
13.59 |
9.78 |
10.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.34 |
2.80 |
4.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.84 |
1.77 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
1.05 |
1.00 |
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 |
112.892 |
129.137 |
129.930 |
|
Reserves & Surplus |
3148.104 |
3855.919 |
4196.294 |
|
Share Application money
pending allotment |
0.000 |
50.000 |
25.000 |
|
Net worth |
3260.996 |
4035.056 |
4351.224 |
|
|
|
|
|
|
long-term borrowings |
1753.770 |
4388.690 |
4212.139 |
|
Short term borrowings |
1715.379 |
2210.490 |
3100.427 |
|
Current Maturities of
Long Term Debt |
327.205 |
552.021 |
674.325 |
|
Total borrowings |
3796.354 |
7151.201 |
7986.891 |
|
Debt/Equity ratio |
1.164 |
1.772 |
1.836 |
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 |
8141.590 |
8103.514 |
11640.170 |
|
|
|
(0.468) |
43.643 |
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 |
8141.590 |
8103.514 |
11640.170 |
|
Profit |
299.983 |
236.707 |
315.792 |
|
|
3.68% |
2.92% |
2.71% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10547174 |
02/02/2015 |
9,970,000.00 |
HDFC BANK LIMITED |
HOUSESENAPATI BAPAT
MARG, LOWER PAREL WEST, MUMBAI, |
C42522680 |
|
2 |
10544124 |
06/01/2015 |
19,575,000.00 |
HDFC BANK LIMITED |
HOUSESENAPATI BAPAT
MARG, LOWER PAREL WEST, MUMBAI, |
C40943995 |
|
3 |
10537938 |
13/12/2014 |
27,740,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
C37644713 |
|
4 |
10540148 |
13/12/2014 |
11,660,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
C38960324 |
|
5 |
10538821 |
10/12/2014 |
28,199,260.00 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
UNIT 202, 2ND FLOOR,
CAMPUS 3B,RMZ MILLENNIA, BUS |
C38195020 |
|
6 |
10532460 |
25/11/2014 |
500,000,000.00 |
BANK OF BARODA |
MID CORPORATE
BRANCH, 2ND FLOOR LIC BUILDING PAND |
C34385658 |
|
7 |
10529322 |
31/10/2014 |
2,525,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
C32393217 |
|
8 |
10533803 |
10/10/2014 |
1,040,600.00 |
HDFC BANK LIMITED |
HOUSESENAPATI BAPAT
MARG, LOWER PAREL WEST, MUMBAI, |
C35321710 |
|
9 |
10533801 |
07/10/2014 |
1,707,020.00 |
HDFC BANK LIMITED |
HOUSESENAPATI BAPAT
MARG, LOWER PAREL W, MUMBAI, |
C35320993 |
|
10 |
10531336 |
21/08/2014 |
4,955,700.00 |
HDFC BANK LIMITED |
HOUSESENAPATI BAPAT
MARG, LOWER PAREL WEST, MUMBAI, |
C33635178 |
|
11 |
10514889 |
05/08/2014 |
13,035,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
C16407751 |
|
12 |
10511589 |
10/07/2014 |
5,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
C14053326 |
|
13 |
10502383 |
05/06/2014 |
9,700,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
C06317796 |
|
14 |
10491357 |
09/04/2014 |
498,784,720.00 |
L&T FINCORP LIMITED |
L & T HOUSE,
BALLARD ESTATE,, MUMBAI, MAHARASHTRA |
C04067088 |
|
15 |
10493264 |
25/03/2014 |
13,150,000.00 |
AXIS BANK LIMITED |
RETAIL ASSET CENTRE,
2ND FLOOR, CHAWLA CHAMBERS,, |
C04305702 |
|
16 |
10483930 |
20/02/2014 |
500,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, GURUDWARA ROAD, M.P.H.B. COLONY, BHILAI, CHHATTISGARH - 490026, INDIA |
C00097980 |
|
17 |
10457676 |
24/10/2013 |
14,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B88573449 |
|
18 |
10455080 |
25/09/2013 |
750,000,000.00 |
BANK OF BARODA |
MID CORPORATE
BRANCH, 2ND FLOOR, LIC INVESTMENT B |
B87565701 |
|
19 |
10446991 |
19/08/2013 |
140,000,000.00 |
KARNATAKA BANK LTD. |
PLOT NO.2, FAFADIH
CHOWK, JAIL ROAD,, RAIPUR, CH |
B84009984 |
|
20 |
10437261 |
05/07/2013 |
1,278,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79779864 |
|
21 |
10428363 |
15/05/2013 |
33,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B75955146 |
|
22 |
10411441 |
27/02/2013 |
13,400,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B70658851 |
|
23 |
10407698 |
25/02/2013 |
1,320,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B69444677 |
|
24 |
10413137 |
25/02/2013 |
1,800,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B71237010 |
|
25 |
10397873 |
04/01/2013 |
9,950,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B66190059 |
|
26 |
10354928 |
26/04/2012 |
6,595,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B39396197 |
|
27 |
10353318 |
23/04/2012 |
810,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38813721 |
|
28 |
10343768 |
21/03/2013 * |
4,750,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
MP HOUSING BOARD COLONY INDUST |
B73037624 |
|
29 |
10312682 |
04/10/2011 |
2,990,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B23376734 |
|
30 |
10281388 |
01/03/2011 |
22,051,176.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B11137486 |
|
31 |
10255314 |
09/04/2014 * |
88,020,834.00 |
L&T INFRASTRUCTURE FINANCE COMPANY LIMITED |
MOUNT POONAMALLEE ROAD, MANAPAKKAM, CHENNAI, TAMILNADU - 600089, INDIA |
C02890911 |
|
32 |
10114389 |
25/09/2013 * |
1,000,000,000.00 |
BANK OF BARODA |
MID-CORPORATE BRANCH, 2ND FLOOR LIC INVESTMENT BUILDING, RAIPUR, CHHATTISGARH - 492001, INDIA |
B87522330 |
|
33 |
10010305 |
12/02/2008 * |
973,300,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
SECTOR-1, BHILAL, CHHATTISGARH |
A37972536 |
|
34 |
90206180 |
04/09/2004 |
833,000,000.00 |
BANK OF BARODA |
MAIN BRANCH-MAHAVIR
GOUSHALA COMPLEX, K.K. ROAD; |
- |
|
35 |
90209578 |
23/04/2014 * |
9,355,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, MPHB COLONY, FAUJI NAGAR, INDUSTRIAL ESTATE, BHILAI, CHHATTISGARH - 490026, INDIA |
C07100209 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from others |
43.319 |
111.570 |
|
Total |
43.319 |
111.570 |
CORPORATE INFORMATION
The Company (Borjhara Division, TMT Division and Tilda Division) is engaged in the manufacturing of Sponge Iron, Billets, Pellets, TMT Bars, Wire rod, Filter Cake, Ferro Alloys and generation of electricity.
OPERATIONAL
REVIEW
During the year, the Revenue for the Current financial year stood at Rs. 11673.456 Million as against Rs.8118.797 Million in the previous financial year, profit before tax stood at Rs. 45.167 Million during the year as against Rs. 298.594 Million in the previous financial year. The profit after tax stood at Rs. 315.792 Million in the current financial year as against Rs. 236.707 Million in the previous financial year.
AWARDS AND ACCOLADES
The Company has been awarded with a Certificate of Appreciation by United Nation Development Programme for successfully implementing energy efficient technologies and contributing to reduction of greenhouse gas emissions and also recognized GOEL TMT as First Model Unit by the Project Removal of Barriers to Energy Efficiency Improvement in Steel Re-Rolling Mill sector in India.
The Company was awarded with IAA Olive Crown Awards held in Mumbai on April 01, 2013, for creative excellence in communicating sustainability.
ECONOMIC REVIEW
The financial year 2013-14 was yet another challenging year due to continued slowdown in Indian economy and fall in Industrial Production and infrastructure growth on account of high inflation, high fiscal deficit, current account deficit and policy paralysis. Off late, Government of India, recognized the problems and has taken certain initiatives to improve the situation and results of the same, have started reflecting improvement indicators. The impact of the same on corporate performance are expected to be felt from current financial year onwards. In the backdrop of the slowdown in Industrial and infrastructure growth, on account of general slowdown in Indian economy, the demand growth of Steel was just 0.60%. Due to fall in demand growth and increase in production capacity of large steel players, the prices of finished steel and intermediate products dropped substantially impacting the performance of small & medium enterprises in the sector. The prices of finished steel fell by about 12-15% across product categories including intermediate products without meaningful reduction in input cost.
REVIEW OF PRODUCTION
The Borjhara Division of the Company had started producing TMT Bars w.e.f. 01.11.2013.
The Company continued to sustain its position in this rapidly growing market. The Company’s ability to neutralize cost increase and improve margins together with purchasing efficiencies, improvement in manufacturing yield / usage and expenses control helped in maintaining the profitability.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer Equipments
· Other Equipments
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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PMN |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--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.