MIRA INFORM REPORT

 

 

Report No. :

343570

Report Date :

05.10.2015

 

IDENTIFICATION DETAILS

 

Name :

INDIAN FARMERS FERTILISER COOPERATIVE LIMITED (IFFCO)

 

 

Registered Office :

IFFCO Sadan, C-1, District Centre Saket Place, New Delhi – 10017

Tel No.:

91-11-42592626

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.11.1967

 

 

Com. Reg. No.:

Not Available

 

 

Capital Investment / Paid-up Capital :

Rs. 4257.800 Million

 

 

CIN No.:

[Company Identification No.]

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Co-operative Society

 

 

Line of Business :

Society is primary engaged in Production and Distribution of Fertilisers.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (63)

 

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 186000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Indian Farmers Fertilisers Cooperative Limited (IIFCO), the largest fertiliser manufacturer in India, it is a co-operative society was set up in 1967 having fine track.

 

It was set up to ensure easy availability of fertilisers to co-operative societies at government-prescribed rates.

 

Financial position of the society is sound and healthy.

 

The rating takes into consideration good operational efficiency, profitable track record of operations, strong market image and wide marketing and distribution network.

 

Further, the rating also derives strength from the experienced management and the dominant position of Indian Farmers Fertiliser Cooperative Limited. (lFFCO) in the Indian fertilizer industry.

 

Trade relations are reported as fair. Business is active. Payments are regular and as per commitment.

 

In view of the aforesaid, the society can be considered good for normal business dealings at usual trade terms and condition.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating: AA-

Rating Explanation

High degree of safety and carry low credit risk.

Date

07.09.2015

 

Rating Agency Name

CRISIL

Rating

Short term rating: A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

07.09.2015

 

 

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 31-03-2015.

 

 

LOCATIONS

 

Registered Office / Corporate Office :

IFFCO Sadan, C-1, District Centre Saket Place, New Delhi – 10017, Delhi, India

Tel. No.:

91-11-42592626 / 91-11-26542625

Fax No.:

91-11-42592650

E-Mail :

hsverdhan@iffco.in

Website :

http://www.iffco.in

 

 

Plant Locations 1 :

KALOL UNIT

 

P.O. Kasturinagar, District, Gandhinagar – 382423, Gujarat, India

 

 

Plant Locations 2 :

KANDLA UNIT

 

P.O. 12, Kandla Unit, Gandhidham – 370201, Kandla (Kachchh), Gujarat, India

 

 

Plant Locations 3 :

PHULPUR UNIT

 

P.O. Ghiyanagar, District,  Allahabad – 212404, Uttar Pradesh, India

 

 

Plant Locations 4 :

AONLA UNIT

 

Paul Pothen Nagar, P.O. IFFCO Township, Paul Pothen Nagar, Bareilly – 243403, Uttar Pradesh, India

 

 

Plant Locations 5 :

PARADEEP UNIT

 

Village: Musadia, P.O. Paradeep, Surinder Jakhar Nagar, District Jagatsinghpur – 754142, Odisha, India

 

 

Branch :

34, Nehru Place, New Delhi – 110019, Delhi, India

 

 

Marketing Network - North Zone :

Plot No. 2(B&C), Sector 28-A, Madhya Marg Chandigarh – 160002, India

Tel. No.:

91-172-2652791, 2638925

Fax No.:

91-172-2654838

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. N. P. Patel

Designation :

Chairman

 

 

Name :

Mr. Balvinder Singh Nakai

Designation :

Vice-Chairman

 

 

Name :

Mr. Prem Chandra Munshi

Designation :

Director

 

 

Name :

Mr. Tryambakrao G. Sirsath

Designation :

Director

 

 

Name :

Mr. Vithalbhai H. Radadia

Designation :

Director

 

 

Name :

Mr. Pramod Kumar Singh

Designation :

Director

 

 

Name :

Mr. Sheesh Pal Singh

Designation :

Director

 

 

Name :

Mr. Ravindra Pratap Singh

Designation :

Director

 

 

Name :

Mr. Simachal Padhy

Designation :

Director

 

 

Name :

Mr. K. Srinivasa Gowda

Designation :

Director

 

 

Name :

Mr. A. Praveen Reddy

Designation :

Director

 

 

Name :

Mr. Ashok Kumar Yadav

Designation :

Director

 

 

Name :

Mr. Halappa Basappa Achar

Designation :

Director

 

 

Name :

Mr. Ramakant Bhargava

Designation :

Director

 

 

Name :

Mr. Diliprao Gangadhar Sopal

Designation :

Director

 

 

Name :

Mr. Jarnail Singh Wahid

Designation :

Director

 

 

Name :

Mr. Ajay Kumar Sharma

Designation :

Director

 

 

Name :

Mr. Aditya Yadav

Designation :

Director

 

 

Name :

Mr. Kashinath Behera

Designation :

Director

 

 

Name :

Dr. B.S. Vishwanathan

Designation :

Director

 

 

Name :

Mr. Rajhans Upadhyaya

Designation :

Director

 

 

Name :

Dr. U.S. Awasthi

Designation :

Managing Director

 

 

Name :

Mr. Rakesh Kapur

Designation :

Joint Managing Director

 

 

Name :

Mr. K.L. Singh

Designation :

Director (Tech.)

 

 

Name :

Dr. G.N. Saxena

Designation :

Director (Cooperative Development)

 

 

Name :

Mr. R.P. Singh

Designation :

Director (HR and Legal)

 

 

Name :

Mr. Arabinda Roy

Designation :

Marketing Director

 

 

Name :

Mr. Manish Gupta

Designation :

Director (Strategy and JV)

 

 

KEY EXECUTIVES

 

Name :

Mr. Vivek

Designation :

Accounts Manager

 

 

Name :

Dr. D K Shukla

Designation :

Sr.  Executive Director, MKCO

 

 

Name :

Mr. S C Mittal

Designation :

Sr. Executive Director

 

 

Name :

Mr. M R Patel

Designation :

Sr. Executive Director, Kandla

 

 

Name :

Mr. A K Singh

Designation :

Sr. Executive Director (Technical)

 

 

Name :

Mr. R K Srivastava

Designation :

Jt. General Manager (P & A), Aomla

 

 

Name :

Mr. Anil Kr. Maheshwari

Designation :

Sr. Executive Director, Aonla

 

 

Name :

Brig. (Retired) Bhanu B Sud

Designation :

Sr. Executive Director

 

 

Name :

Mr. K K Verma

Designation :

Executive Director

 

 

Name :

Mr. Shamsher Singh

Designation :

Sr. General Manager, Kalol

 

 

Name :

Mr. Sunil Kumar Gandhi

Designation :

Sr. General Manager, Paradeep

 

 

Name :

Dr. H S Misra

Designation :

Jt. General Manager (Med and HS), Aonla

 

 

Name :

Mr. Anit Kumar Bhaduri

Designation :

Sr. General Manager

 

 

Name :

Mr. Birinder Singh

Designation :

Sr. General Manager

 

 

Name :

Mr. A K Garg

Designation :

Jt. General Manager (Power)

 

 

Name :

Mr. Sandeep Ambekar

Designation :

General Manager (Maint), Phulpur

 

 

Name :

Mr. B B Sachar

Designation :

General Manager (F and A), MKCO

 

 

Name :

Mr. D C Maheshwari

Designation :

Jt. General Manager (F and A), Kandla

 

 

Name :

Mr. Rakesh Puri

Designation :

Jt. General Manager (Ammonia)

 

 

Name :

Mr. Surendra Singh

Designation :

General Manager (Production), Aonla

 

 

Name :

Mr. Ashis Kumar Panda

Designation :

General Manager (Production), Paradeep

 

 

Name :

Mr. Mukul Srivastava

Designation :

General Manager (Production), Phulpur

 

 

Name :

Mr. Yogesh Narula

Designation :

General Manager (Technical), Phulpur

 

 

Name :

Mr. A E Kadu

Designation :

General Manager (Technical), Kandla

 

 

Name :

Mr. R B Pipalia

Designation :

Jt. General Manager (Purchase), Kalol

 

 

Name :

Mr. J N Sahu

Designation :

General Manager (Vig.) / CVO

 

 

Name :

Mr. G K Gautam

Designation :

General Manager (Maintenance), Aonla

 

 

Name :

Mr. P V Narayana

Designation :

General Manager (Tech), Paradeep

 

 

Name :

Mr. K N Joshi

Designation :

General Manager (Commercial) HO

 

 

Name :

Dr. D P Patra

Designation :

General Manager (Marketing), East Zone

 

 

Name :

Mr. A K Chaturvedi

Designation :

General Manager (Commercial), Aonla

 

 

Name :

Mr. V J Mankodi

Designation :

General Manager (F and A), Kandla

 

 

Name :

Mr. Anil Sahni

Designation :

General Manager (IA)

 

 

Name :

Mr. A K Ghosh

Designation :

General Manager (Finance)

 

 

Name :

Mr. P C Verma

Designation :

Jt. General Manager (Utility), Paradeep

 

 

Name :

Mr. Nirmal Kumar

Designation :

Jt. General Manager (CR)

 

 

Name :

Mr. P N Shah

Designation :

Jt. General Manager (Purchase)

 

 

Name :

Mr. Mahomood Alam

Designation :

Jt. General Manager (Elect.)

 

 

Name :

Mr. R S Maurya

Designation :

Jt. General Manager (Urea)

 

 

Name :

Mr. R K Srivastava

Designation :

Jt. General Manager (P and A), Aonla

 

 

Name :

Mr. Dr. H S Misra

Designation :

Jt. General Manager {Med and HS), Aonla

 

 

Name :

Mr. D S Rao

Designation :

Jt. General Manager (Materials), Paradeep

 

 

Name :

Mr. A .K. Saxena

Designation :

Jt. General Manager (Systems), Kalol

 

 

Name :

Mr. V G Rathod

Designation :

Jt. General Manager (Stores)

 

 

Name :

Mr. Subrata Datta

Designation :

Jt. General Manager (Production), Phulpur

 

 

Name :

Dr. P K Singhal

Designation :

Jt. General Manager (Med and HS), Phulpur

 

 

Name :

Mr. Sudhir Khattar

Designation :

Jt. General Manager (F and A)

 

 

Name :

Mr. J P Srivastava

Designation :

Jt. General Manager (Utility), Paradeep

 

 

Name :

Mr. P D Pathak

Designation :

Jt. General Manager (Inst), Phulpur

 

 

Name :

Mr. K Shantha Kumar

Designation :

Jt. General Manager (Inst.), Paradeep

 

 

Name :

Mr. A K Mittal

Designation :

Jt. General Manager (Mech), Aonla

 

 

Name :

Mr. C N Shah

Designation :

Jt. General Manager (Process), Paradeep

 

 

Name :

Dr. R N Kundu

Designation :

Jt. General Manager (Marketing), West Zone

 

 

Name :

Dr. R R Randad

Designation :

Jt. General Manager (Marketing)

 

 

Name :

Mr. R K Jain

Designation :

Jt. General Manager (Mech.), Paradeep

 

 

Name :

Mr. S K Kalmegh

Designation :

Jt. General Manager (Maintenance)

 

 

Name :

Dr. S V Kaore

Designation :

Jt. General Manager (AS), MKCO

 

 

Name :

Mr. A G Margabandhu

Designation :

Jt. General Manager (Process), Kalol

 

 

Name :

Mr. V M Pawde

Designation :

Jt. General Manager (Purchase), Kandla

 

 

Name :

Mr. Rajiv Goyal

Designation :

Jt. General Manager (Utility), Kandla

 

 

Name :

Mr. G K Gupta

Designation :

Jt. General Manager (Systems), Phulpur

 

 

Name :

Mr. R K Chawla

Designation :

Jt. General Manager (HO)

 

 

Name :

Mr. M A Ansari

Designation :

Jt. General Manager (Power), Phulpur

 

 

Name :

Mr. S K Gupta

Designation :

Jt. General Manager (Urea), Aonla

 

 

Name :

Mr. Praveen Agarwal

Designation :

Jt. General Manager (F and A)

 

 

Name :

Mr. D G Inamdar

Designation :

Jt. General Manager (Maintenance), Kalol

 

 

Name :

Mr. A K Gupta

Designation :

Jt. General Manager (Systems)

 

 

Name :

Mr. K J Patel

Designation :

Jt. General Manager (Mech.),Paradeep

 

 

Name :

Mr. M M Ahmed

Designation :

Jt. General Manager (Maintenance.), Phulpur

 

 

Name :

Mr. Kushal Kumar Singh

Designation :

Jt. General Manager (Elect.), Aonia

 

 

Name :

Mr. Jitendra Kumar

Designation :

Jt. General Manager (Materials), Phulpur

 

 

Name :

Mr. A K Pandey

Designation :

Jt. General Manager (Tpt.),MKCO

 

 

Name :

Mr. S D Sharma

Designation :

Jt. General Manager (Elect.), Kalol

 

 

Name :

Mr. Nakul Pathak

Designation :

Jt. General Manager (P and A), Kalol

 

 

Name :

Mr. Premankur Bhattacharjee

Designation :

Jt. General Manager (HR), Paradeep

 

 

Name :

Dr. M Jagan Mohan

Designation :

Jt. General Manager (Marketing)

 

 

Name :

Mr. Diwakar Misra

Designation :

Jt. General Manager (Process)

 

 

Name :

Mr. B K Das

Designation :

Jt. General Manager (Ammonia)

 

 

Name :

Mr. Ravi Agnihotri

Designation :

Jt. General Manager (Tech.)

 

 

Name :

Mr. Piyush Misra

Designation :

Jt. General Manager (Tech.)

 

 

Name :

Mr. O P Dayama

Designation :

Jt. General Manager (Process)

 

 

Name :

Mr. Tomgee Kallingal

Designation :

Jt. General Manager (MArketing)

 

 

Name :

Mr. V N Bhaskar

Designation :

Jt. General Manager (Systems)

 

 

Name :

Mr. Anil Dhingra

Designation :

Jt. General Manager (MArketing)

 

 

Name :

Ms. Seema Gaur

Designation :

Jt. General Manager (Systems)

 

 

Name :

Mr. Suresh Chander Gupta

Designation :

Jt. General Manager (HR and IR) HO

 

 

Name :

Mr. Mukesh Kulshrestha

Designation :

Jt. General Manager (Elect.)

 

 

Name :

Mr. S S Rawat

Designation :

Jt. General Manager (F and A)

 

 

Name :

Mr. Suresh Goyal

Designation :

Jt. General Manager (F and A)

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

NOT AVAILABLE

 

BUSINESS DETAILS

 

Line of Business :

Society is primary engaged in Production and Distribution of Fertilisers.

 

 

Products :
  • Urea
  • NP
  • NPK
  • DAP

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

No. of Employees :

Not Available

 

 

Bankers :
  • Indian Overseas Bank
  • State Bank of India
  • Bank of Baroda
  • Standard Chartered Bank
  • The Maharashtra State Cooperative Bank Limited
  • The West Bengal State Cooperative Bank Limited
  • Madhya Pradesh State Cooperative Bank Limited.
  • The Punjab State Cooperative Bank Limited
  • The Hongkong and Shanghai Banking Corporation Limited
  • ICICI Bank Limited
  • IDBI Bank Limited.
  • HDFC Bank Limited
  • Punjab National Bank
  • IndusInd Bank
  • DBS Bank
  • Kotak Mahindra Bank Limited

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term Loan

 

 

From Others

 

 

Interest free Deferred Trade Tax Loan from Pradeshiya Industrial and Investment Corporation of Uttar Pradesh

(Secured by Hypothecation of Plant and Machinery of Aonla II Unit) (Repayable Rs. 143.600 Million on 31.05.2015; Rs. 243.400 Million on 31.05.2016; Rs. 270.000 Million on 31.05.2017 and Rs. 90.200 Million on 31.05.2018)

747.200

858.900

Short-term borrowings

 

 

Loans Repayable on Demand

 

 

From Banks

 

 

Cash Credit

(Secured by pari-passu charge by Hypothecation of Raw Materials, Stores and Spares, Semi Finished Goods, Finished Goods, Trade Receivables, Subsidy Receivables and other movables under a loan agreement with Consortium of Banks)

24959.100

19592.700

Short Term Loans

(Secured by pari-passu charge by Hypothecation of Raw Materials, Stores and Spares, Semi Finished Goods, Finished Goods, Trade Receivables, Subsidy Receivables and other movables under a loan agreement with Consortium of Banks)

2810.000

340.000

 

 

 

Total

28516.300

20791.600

 

Auditors :

 

Name :

V K Dhingra and Company

Chartered Accountants

Address :

1-E/15, Jhandealan Extension, New Delhi-110055, Delhi, India 

 

 

Name :

S.P. Chopra and Company

Chartered Accountants

Address :

31-F, Connaught Place, New Delhi - 110 001, Delhi, India

 

 

Name :

Arun Singh and Co.

Chartered Accountants

Address :

F-7, Lajpat Nagar-III, New Delhi-110 024, Delhi, India 

 

 

Name :

B.C. Jain and Company

Chartered Accountants

Address :

A-734, Sarita Vihar, New Delhi - 110 076, Delhi, India

 

 

Name :

S.K. Mittal and Company

Chartered Accountants

Address :

Mittal House, E-29, South Extn. Part-II, New Delhi - 110 049, Delhi, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries :

- IFFCO-Tokio General Insurance Company Limited

- Kisan International Trading FZE

- IFFCO Kisan Bazar & Logistics Limited

- IFFCO Chhattisgarh Power Limited

- IFFCO Kisan Sanchar Limited

- IFFCO Kisan SEZ Limited

- Indian Farm Forestry Development Cooperative Limited

 

 

Subsidiary of Subsidiary Companies :

- IFFCO Tokio Insurance Services Limited

- Baylis Generators Limited

- Fert Coop Trading LLC

- Asset Infra Development Limited

- IFFCO Canada Enterprise Limited

 

 

Joint Ventures :

- Industries Chimiques du Senegal

- Oman India Fertiliser Company SAOC

- Jordan India Fertilizer Company LLC

 

 

Associates :

- Indian Potash Limited

- Cooperative Rural Development Trust

- IFFCO Kisan Sewa Trust

- IFFCO Foundation

- Aria Chemicals (Orissa) Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

90000

Equity Shares

Rs.100000/- each

Rs. 9000.000 Million

50000

Equity Shares

Rs.10000/- each

Rs. 500.000 Million

500000

Equity Shares

Rs.1000/- each

Rs. 500.000 Million

 

TOTAL

 

Rs. 10000.000 Million

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

35229

Equity Shares

Rs.100000/- each

Rs. 3522.900 Million

39681

Equity Shares

Rs.10000/- each

Rs. 396.800 Million

345294

Equity Shares

Rs.1000/- each

Rs. 345.300 Million

 

Less Shares under Redemption

 

Rs. 7.200 Million

 

TOTAL

 

Rs. 4257.800 Million

 

 

RECONCILIATION OF SHARES OUTSTANDING

 

 

As At 31.03.2014

 

Nos.

Amount is Million

Equity Shares of Rs. 1,00,000/- each

 

 

Shares Outstanding at the beginning of the year

35,242

3524.200

Add: Shares issued during the year

--

-

Less: Shares redeemed during the year

13

1.300

Shares Outstanding at the end of the year

35,229

3522.900

 

 

 

Equity Shares of Rs. 10,000/- each

 

 

Shares Outstanding at the beginning of the year

39,658

396.600

Add: Shares issued during the year

43

0.400

Less: Shares redeemed during the year

20

0.200

Shares Outstanding at the end of the year

39,681

396.800

 

 

 

Equity Shares of Rs. 1,000/- each

 

 

Shares Outstanding at the beginning of the year

345,182

345.200

Add: Shares issued during the year

152

0.200

Less: Shares redeemed during the year

40

0.100

Shares Outstanding at the end of the year

345,294

345.300

 

1,334 Equity Shares of Rs.1,000/- each; 127 Equity Shares of Rs. 10,000/- each and 119 Equity Shares of Rs. 1,00,000 each have been redeemed during a period of five years immediately  preceeding the Balance Sheet date. Share Application Money Pending Allotment – Rs. NIL (Previous year – Rs. 25,325/-) in rupee terms.

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

4257.800

4,258.800

4,258.000

(b) Reserves & Surplus

60843.400

58,553.100

52,195.700

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

65101.200

62811.900

56453.700

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3424.800

3,538.300

3,541.300

(b) Deferred tax liabilities (Net)

4002.200

4,854.700

4,471.400

(c) Other long term liabilities

74.900

40.300

85.600

(d) long-term provisions

3018.400

2,729.200

2,510.200

Total Non-current Liabilities (3)

10520.300

11162.500

10608.500

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

91542.600

     102,449.600

     125,235.900

(b) Trade payables

10062.700

       15,663.400

         6,343.100

(c) Other current liabilities

4738.500

         6,391.100

        4,735.700

(d) Short-term provisions

2450.100

        2,375.600

       2,073.100

Total Current Liabilities (4)

108793.900

126879.700

138387.800

 

 

 

 

TOTAL

184415.400

200854.100

205450.000

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

44868.300

44,092.500

43,973.500

(ii) Intangible Assets

280.100

189.100

237.200

(iii) Capital work-in-progress

3186.500

5,930.800

4,700.400

(iv) Intangible assets under development

0.000

23.800

33.500

(b) Non-current Investments

26427.800

24,216.200

22,514.100

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term Loan and Advances

2427.400

2,462.400

3,442.600

(e) Other Non-current assets

60.300

94.700

59.900

Total Non-Current Assets

77250.400

77009.500

74961.200

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

25428.500

21097.200

23792.600

(c) Trade receivables

19502.000

33400.800

22472.200

(d) Cash and cash equivalents

1534.900

2086.000

13612.800

(e) Short-term loans and advances

2327.600

1919.400

2309.300

(f) Other current assets

58372.000

65341.200

68301.900

Total Current Assets

107165.000

123844.600

130488.800

 

 

 

 

TOTAL

184415.400

200854.100

205450.000

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

   208,455.300

216733.600

255989.700

 

Other Income

5366.000

5,374.200

5,516.900

 

TOTAL (A)

213821.300

222107.800

261506.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Material Consumed

153611.100

154446.300

146010.600

 

Purchases of Stock-in-Trade

21017.200

17,150.600

74,480.600

 

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

(6040.400)

1,314.600

(4,715.700)

 

Employees benefits expense

8500.100

8,741.800

7,818.600

 

Other expenses

18893.700

16,604.800

14,943.200

 

TOTAL (B)

195981.700

198258.100

238537.300

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

17839.600

23849.700

22969.300

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

8612.600

7,895.200

8,052.000

 

 

 

 

 

 

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

9227.000

15954.500

14917.300

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

5149.200

4,880.200

4,739.500

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

4077.800

11074.300

10177.800

 

 

 

 

 

Less

TAX (I)

889.700

3,787.100

2,456.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-I)   (J)

3188.100

7287.200

7721.800

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Sales of Finished Goods

3577.900

0.000

0.000

 

Dividend Income

2003.400

2,769.300

2,696.600

 

Others

887.600

338.600

230.900

 

TOTAL EARNINGS

6468.900

3107.900

2927.500

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

72729.500

82,696.500

94,941.800

 

Spare Parts and Cataluysts

209.100

223.100

365.200

 

Traded Products

16704.600

13,707.200

65,423.800

 

Capital Goods

108.800

848.800

283.100

 

TOTAL IMPORTS

89752.000

97475.600

161013.900

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

748.00

1709.00

1810.00

 

 

KEY RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin
(PAT/Sales)

(%)

1.53

3.36

3.02

 

 

 

 

 

Operating Profit Margin
(PBITD/Sales)

(%)

8.56

11.00

8.97

 

 

 

 

 

Return on Total Assets
(PBT/Total Assets}

(%)

2.63

6.49

5.71

 

 

 

 

 

Return on Investment (ROI)
(PBT/Networth)

 

0.06

0.18

0.18

 

 

 

 

 

Debt Equity Ratio
(Total Debt /Networth)

 

1.46

1.69

2.28

 

 

 

 

 

Current Ratio
(Current Asset/Current Liability)

 

0.99

0.98

0.94

 

 

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

4258.000

4258.800

4257.800

Reserves & Surplus

52195.700

58553.100

60843.400

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

56453.700

62811.900

65101.200

 

 

 

 

long-term borrowings

3541.300

3538.300

3424.800

Short term borrowings

125235.900

102449.600

91542.600

Total borrowings

128777.200

105987.900

94967.400

Debt/Equity ratio

2.281

1.687

1.459

 

 

 

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

255989.700

216733.600

208455.300

 

 

(15.335)

(3.820)

 

 

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

255989.700

216733.600

208455.300

Profit

7721.800

7287.200

3188.100

 

3.02%

3.36%

1.53%

 

 

 

 

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

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

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

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term Loan

 

 

From Banks 

 

 

ICICI Bank

(Zero coupon loan, repayable Rs. 47.300 Million on 31.03.2016, Rs. 226.700 Million on 31.03.2017 and Rs. 179.400 Million on 31.03.2018)

453.400

453.400

IDBI Limited

(Zero coupon loan, repayable Rs. 153.800 Million on 31.03.2016, Rs. 530.000 Million on 31.03.2017 and Rs. 376.200 Million on 31.03.2018)

1060.000

1060.000

(ii) From Others

 

 

IFCI Limited

(Zero coupon loan, repayable Rs. 134.400 Million on 31.03.2016, Rs. 485.400 Million on 31.03.2017 and Rs. 351.100 Million on 31.03.2018)

970.900

970.900

The Oriental Insurance Company Limited

(Zero coupon loan, repayable Rs. 3.700 Million on 31.03.2016, Rs. 15.000 Million on 31.03.2017 and Rs. 11.300 Million on 31.03.2018)

30.000

30.000

Deposits

 

 

Employees / Others

77.900

84.800

Cooperative Institutions / Other Institutions

85.400

80.300

 

 

 

Short-term borrowings

 

 

(a) Loans Repayable on Demand

 

 

From Banks

60702.000

77228.500

(b) Foreign Currency Loan

 

 

Buyers Credit

3058.100

5278.800

(c) Deposits

 

 

Employees / Others

1.700

7.800

Cooperative Institutions

11.700

1.800

 

 

 

Total

66451.100

85196.300

 

FIXED ASSETS

 

  • Licence
  • Technical Knowhow
  • Computer Software
  • Building
  • Road, Culvert & Other Facility
  • Temporary Structure
  • Plant, Machinery & Other Equipment
  • Furniture & Fixture
  • Office Equipment
  • Vehicle & Mobile Equipment
  • Rolling Stock & Locomotive
  • Railway Siding
  • Liquid Cargo Jetty

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records 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.65.55

UK Pound

1

Rs.99.17

Euro

1

Rs.73.08

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

 

63

 

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

 

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

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

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

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

 

Unlimited

71-85

Aa

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

 

Large

56-70

A

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

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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

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