MIRA INFORM REPORT
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Report No. : |
344668 |
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Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
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Name : |
BHUSHAN POWER AND STEEL LIMITED (w.e.f. 28.02.2006) |
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Formerly Known
As : |
BHUSHAN LIMITED |
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Registered
Office : |
4th Floor, Tolstoy House, 15-17, Tolstoy Marg, Connaught
Place, New Delhi - 110001 |
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Tel. No.: |
91-11-30451000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
22.02.1999 |
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Com. Reg. No.: |
55-108350 |
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Capital
Investment / Paid-up Capital : |
Rs. 2366.466 Million |
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CIN No.: [Company Identification
No.] |
U27100DL1999PLC108350 |
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IEC No.: |
0500049084 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACB9760D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Pig Iron, DRI,
Billets, HR Coils, CR Coils, GP/GC Sheets, Precision Tubes, Black Pipe/GI
Pipe, Cable Tapes, Tor Steel, Carbon and Special Alloy Steel Wire Rods and
Rounds conforming to IS and international standards and also Generation of
Power. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (16) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Clear |
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Comments : |
Subject was formed in 1999. It is a steel manufacturer with facilities
for long as well as flat steel products. The company has presence across the
value chain with manufacturing facilities for sinter, sponge iron, pig iron,
HRC, CRC, Bars, Rods and galvanized sheets, tubes and pipes. It has moderate
track record. The rating takes into account continued high gearing levels as against
an expected improvement. The rating also takes into consideration enhanced liquidity risk
resulting from delay in availment of additional funds (Debt as well as
Equity) for the large sized capex being undertaken as well as for funding the
working capital borrowings and meeting the sizeable imminent repayments. Further, it also considered leveraged capital structure, high project
execution risk with relatively large size of the ongoing project, stressed
debt servicing indicators with imminent repayments, lack of complete backward
integration and cyclical nature of the steel. However, Business is active. Payment terms are reported to be slow and
delayed. The company can be considered for business dealings on safe and
secured 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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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 : BB |
|
Rating Explanation |
Have inadequate credit quality and carries high credit risk. |
|
Date |
September 24, 2014 |
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Rating Agency Name |
CARE |
|
Rating |
Short term rating : A4 |
|
Rating Explanation |
Have minimal degree of safety and very high credit risk |
|
Date |
September 24, 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 DECLINED BY
|
Name : |
Mr. Harish Gupta |
|
Designation : |
Deputy Manager |
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Contact No.: |
91-11-30451000 |
LOCATIONS
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Registered/ Corporate Office : |
4th Floor, Tolstoy House, 15-17, Tolstoy Marg, Connaught
Place, New Delhi - 110001, India |
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Tel. No.: |
91-11-30451000 |
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Mob. No.: |
91-9811798174 (Mr. Nareshchand) |
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Fax No.: |
91-11-23712737/ 30451101 |
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E-Mail : |
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Website : |
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Head Office : |
F Block, 1st Floor, International Trade Tower, Nehru Place,
New Delhi, India |
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Admin./ Network Office : |
J.K. Millennium Center, 6th Floor, 46-D,
Jawahar Lal Nehru Road, Kolkata - 700071, West Bengal, India |
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Tel. No.: |
91-33-30512299/ 30512332/ 3052333 |
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Fax No.: |
91-33-30512235/ 30512297 |
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E-Mail : |
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Manufacturing
Units : |
Plot No. 03, Industrial Area, Phase-1, Chandigarh, India Plot No. 71, Industrial Area, Phase-1, Chandigarh, India Plot No. 83, Industrial Area, Phase-1, Chandigarh, India Plot No. 141 – 142, Industrial Area, Phase-1, Chandigarh, India Village Haripur
Khura, Ambala-Chandigarh Road, Derabassi, District Mohali, Punjab, India NH-2,
Bangihatti, Mallickpara, Serampore, Hooghly - 712203, West Bengal, India Village
Thelkoloi and Dhubenchapper Tehsil Rengali District Sambalpur, Orissa, India Plot No. 55, KIADB Industrial Area, Chintamani Road, Hoskote Taluk, Bangalore, Karnataka, India |
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Marketing Networks : |
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Marketing Networks : |
Andhra Pradesh: Hyderabad Vijaywada Secunderabad Vishakhapatnam Tirupati Assam:
Guwahati Bihar:
Patna Gulabbagh (Purnia) Chandigarg Delhi Gujarat: Ahmedabad Rajkot Surat Haryana: Faridabad Panchkula Manesar Himachal
Pradesh: Baddi Parwanoo Kullu Amb Damtal Kala Amb Jammu
and Kashmir: Jammu Karnataka: Bangalore Hubli Kerala
: Kochi Maharashtra
: Mumbai Pune Nagpur Aurangabad Nasik Raigad Madhya
Pradesh: Indore Orissa: Bhubaneshwar Sambalpur Rourkela Punjab: Amritsar Jalandhar Mandi-Gobindgarh Rajasthan: Jaipur Bhiwadi Tamilnadu: Chennai Hosur Coimbatore Uttar
Pradesh: Ghaziabad Kanpur Gorakhpur West
Bengal: Kolkata Siliguri Belur Hooghly Bighatti Jharkhand: Jamshedpur Chaattisgarh: Raipur Raigarh Tripura: Agartala Uttrakhand: Pantnagar Haridwar Dadra
and Nagar Haveli: Silvassa |
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Other Network Offices : |
Located at: CHANDIGARH OFFICE Plot No. 3, Industrial Area, Phase – I, Chandigarh - 160002, India Phone : 91-172-3911702/ 3911703 Fax : 91-172-3911704 E-mail : chandigarh@bpsl.net ORISSA OFFICE Village Thelkoloi,
P.O. Lapanga, Tehsil - Rengoli, District Sambalpur - 768232 Phone: 91-663-2535000/ 2562026-32 Fax: 91-663-2562007/ 2562011 E-mail : orissa@bpsl.net DERABASSI OFFICE Chandigarh Ambala Road, Derabassi - 140507, District
Patiala, Punjab, India Fax: 91-1762-307902 E-mail : bhushandrb@bpsl.ne |
DIRECTORS
As on 22.09.2014
|
Name : |
Mr. Sanjay Singal |
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Designation : |
Chairman and Managing Director |
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Address : |
61, Sector 5, Chandigarh, India |
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Date of Birth/Age : |
19.06.1960 |
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Qualification : |
Graduate |
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Experience : |
34 Years |
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Date of Appointment : |
30.06.2013 |
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PAN No.: |
ANRPS7985C |
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DIN No.: |
00006579 |
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Name : |
Mrs. Aarti Singal |
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Designation : |
Vice Chairperson and Whole Time Director (Admin) |
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Address : |
61, Sector 5, Chandigarh, India |
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Date of Birth/Age : |
08.03.1961 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.12.2014 |
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PAN No.: |
AEFPS6299L |
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DIN No.: |
00007698 |
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Name : |
Mr. Ravi Prakash Goyal |
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Designation : |
Whole Time Director (Commercial) |
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Address : |
House No. 157, Sector 16, Panchkula – 134112, Haryana, India |
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Date of Birth/Age : |
09.09.1951 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.12.2014 |
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PAN No.: |
ADAPG0813G |
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DIN No.: |
00006595 |
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Name : |
Mr. Hardev Chand Verma |
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Designation : |
Director |
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Address : |
14/4A, Burdwan Road, Alipore, Kolkata, West Bengal, India |
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Date of Birth/Age : |
15.11.1952 |
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Qualification : |
Graduate |
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Date of Appointment : |
29.05.2014 |
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PAN No.: |
ABVPV6037G |
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DIN No.: |
00007681 |
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Name : |
Mr. Ram Naresh Yadav |
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Designation : |
Whole Time Director (Technical) |
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Address : |
14/4A, Burdwan Road, Alipore, Kolkata, West Bengal, India |
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Date of Birth/Age : |
16.07.1959 |
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Qualification : |
B Tech |
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Date of Appointment : |
30.12.2014 |
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PAN No.: |
AAAPY4673M |
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DIN No.: |
00006697 |
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Name : |
Mr. Ram Dev Batra |
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Designation : |
Director |
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Address : |
4148, Pocket 4, Sector D, Vasant Kunj, New Delhi -110001, India |
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Date of Birth/Age : |
16.05.1936 |
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Qualification : |
B Tech |
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Date of Appointment : |
01.03.2001 |
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DIN No.: |
00007769 |
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Name : |
Mr. Dinesh Kumar Behal |
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Designation : |
Director |
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Address : |
House No. 3235, Phase – II, Dugri Road, Urban Estate, Ludhiana,
Punjab, India |
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Date of Birth/Age : |
19.02.1958 |
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Qualification : |
ICWAI |
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Date of Appointment : |
19.06.2006 |
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DIN No.: |
00011735 |
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Name : |
Mr. Jimmy Lachmandas Mahtani |
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Designation : |
Director |
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Address : |
APT BLKI, Chatsworth Road, #22-21, Singapore |
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Date of Birth/Age : |
27.10.1976 |
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Date of Appointment : |
23.05.2012 |
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DIN No.: |
00996110 |
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Name : |
Mr. Anil Shridhar Supanekar |
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Designation : |
Director |
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Address : |
A1002/1003, DSK Chandnadeep, Mukund Nagar, Pune, Maharashtra, India |
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Date of Birth/Age : |
24.10.1940 |
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Qualification : |
B Tech |
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Date of Appointment : |
20.07.2007 |
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DIN No.: |
00023254 |
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Name : |
Mr. S. N. Baheti |
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Designation : |
Nominee Director – IDBI |
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Date of Appointment : |
08.11.2013 |
KEY EXECUTIVES
|
Name : |
Mr. Ravinder Kumar Gupta |
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Designation : |
Secretary |
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Address : |
2147/3, Sector 45 C, Chandigarh – 160002, Punjab, India |
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Date of Birth/Age : |
31.05.1958 |
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Date of Appointment : |
21.09.2000 |
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PAN No.: |
ADOPG2712Q |
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Name : |
Mr. R. K. Gupta |
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Designation : |
President and Company Secretary |
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Name : |
Mr. Harish Gupta |
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Designation : |
Deputy Manager |
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Name : |
Mr. Sunil Kumar |
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Designation : |
Senior Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Sanjay Singal |
12585436 |
|
Sanjay Singal (HUF) |
256450 |
|
Priyanka Miglani |
1000895 |
|
Radhika S. Dhoot |
1000220 |
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Aarti Singal |
5969324 |
|
Aniket Singal |
1750967 |
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Jasmine Steel Trading Limited, India |
39772500 |
|
Marsh Steel Trading Limited, India |
39553500 |
|
Diyajyoti Steel Limited, India |
40032750 |
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Vision Steel Limited, India |
41068673 |
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Anuradha Supanekar |
10000 |
|
Baring Private Equity Asia III Mauritius Holdings (3) Limited,
Mauritius |
10714285 |
|
Total |
193715000 |
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Names of Preference Shareholders |
No. of Shares |
|
Jasmine Steel Trading Limited, India |
734880 |
|
Marsh Steel Trading Limited, India |
742915 |
|
Vision Steel Limited, India |
767455 |
|
Diyajyoti Steel Limited, India |
728355 |
|
Sanjay Singal |
440390 |
|
Aarti Singal |
429560 |
|
Aniket Singal |
186250 |
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Sanjay Singal (HUF) |
263350 |
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Total |
4293155 |
As on 22.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
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Foreign holdings (Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident indian(s) or Overseas corporate bodies or Others) |
5.53 |
|
Bodies corporate |
82.82 |
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Directors or relatives of directors |
11.65 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pig Iron, DRI, Billets, HR Coils, CR
Coils, GP/GC Sheets, Precision Tubes, Black Pipe/GI Pipe, Cable Tapes, Tor Steel,
Carbon and Special Alloy Steel Wire Rods and Rounds conforming to IS and
international standards and also Generation of Power. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers / Financial Institution : |
·
Axis Bank Limited ·
Allahabad Bank ·
Andhra Bank ·
Bank of Baroda ·
Bank of India ·
Bank of Maharashtra ·
Bayern-LB, Germany ·
Canara Bank ·
Central Bank of India ·
Corporation Bank ·
Dena Bank ·
Deutsche Bank S.P.A., Italy ·
Export Import Bank of India ·
HUA Nan Commercial Bank, Singapore ·
ICICI Bank Limited ·
IDBI Limited ·
Indian Bank ·
Indian Overseas Bank ·
Intesa Sanpaolo S.P.A. Hongkong ·
IKB Deutsche Industrie bank, Germany ·
Karur Vysya Bank ·
KFW Bank, Germany ·
Life Insurance Corporation of India ·
Oriental Bank of Commerce ·
Punjab National Bank ·
Punjab and Sind Bank ·
State Bank of Bikaner and Jaipur ·
State Bank of Hyderabad ·
State Bank of India ·
State Bank of Mysore ·
State Bank of Patiala ·
State Bank of Travancore ·
Syndicate Bank ·
SIDBI ·
The South Indian Bank Limited ·
The Jammu and Kashmir Bank Limited ·
UCO Bank ·
United Bank of India ·
Union Bank of India ·
Unicredit, Austria ·
Vijaya Bank |
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Facilities : |
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Auditors : |
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Name : |
Mehra Goel and Company Chartered Accountants |
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Address : |
505, |
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E-Mail : |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AABFM1488M |
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Name : |
J.K. Kabra and Company Cost Accountants |
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Address : |
New Delhi, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company |
Aarti Minerals (Austrlia) Pty Limited (Upto 30.03.2013) Skap Electronics Private Limited (Upto 23.11.2012) Aarti Resources Mozambique Limitada (Liquidated on 30.03.2013) Global Steel and Minerals Pte. Limited (Incorporated on 25.04.2013)* |
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Associates : |
Nova Iron and Steel Limited Ambey Steel and Power Private Limited Aarti Minerals (Austrlia) Pty Limited (w.e.f. 31.03.2013) Jasmine Steel Trading Limited Marsh Steel Trading Limited Vision Steel Limited |
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Joint venture: |
Rohne Coal Company Private Limited |
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Enterprise over
which key managerial personnel and their relatives having significant
influence: |
Atma Ram House Investment Private Limited Aarti International Limited |
CAPITAL STRUCTURE
As on 22.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 3750.000 Million |
|
7,500,000 |
Preference Share |
Rs.100/- each |
Rs. 750.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 4500.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
193,715,000 |
Equity Shares |
Rs.10/- each |
Rs. 1937.150 Million |
|
4,293,155 |
Preference Share |
Rs.100/- each |
Rs. 429.316 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 2366.466
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 |
2366.466 |
2013.337 |
1937.150 |
|
(b) Reserves & Surplus |
78786.254 |
60722.450 |
52652.758 |
|
(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) |
81152.720 |
62735.787 |
54589.908 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
224088.392 |
179971.013 |
132105.195 |
|
(b) Deferred tax liabilities (Net) |
14008.309 |
11008.309 |
7958.309 |
|
(c) Other long term
liabilities |
11882.704 |
20661.644 |
16089.221 |
|
(d) long-term
provisions |
287.161 |
283.478 |
103.415 |
|
Total Non-current
Liabilities (3) |
250266.566 |
211924.444 |
156256.140 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
49854.240 |
48603.314 |
36494.983 |
|
(b) Trade
payables |
13469.335 |
9119.109 |
9491.993 |
|
(c) Other
current liabilities |
24535.218 |
22911.799 |
13483.084 |
|
(d) Short-term
provisions |
733.593 |
271.983 |
299.866 |
|
Total Current
Liabilities (4) |
88592.386 |
80906.205 |
59769.926 |
|
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|
|
|
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TOTAL |
420011.672 |
355566.436 |
270615.974 |
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
229816.877 |
137422.703 |
125469.041 |
|
(ii)
Intangible Assets |
180.210 |
11.462 |
7.214 |
|
(iii)
Capital work-in-progress |
105783.141 |
141939.816 |
84419.515 |
|
(iv)
Intangible assets under development |
0.000 |
149.344 |
0.000 |
|
(b) Non-current Investments |
1220.696 |
1220.696 |
1013.858 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16072.754 |
11316.363 |
6367.803 |
|
(e) Other
Non-current assets |
197.655 |
337.930 |
65.233 |
|
Total Non-Current
Assets |
353271.333 |
292398.314 |
217342.664 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
94.909 |
212.206 |
453.787 |
|
(b)
Inventories |
31821.129 |
19927.145 |
17648.281 |
|
(c) Trade
receivables |
16243.669 |
17184.061 |
11090.131 |
|
(d) Cash
and cash equivalents |
1760.426 |
7336.532 |
8604.496 |
|
(e)
Short-term loans and advances |
16810.530 |
18508.178 |
15476.615 |
|
(f) Other
current assets |
9.676 |
0.000 |
0.000 |
|
Total
Current Assets |
66740.339 |
63168.122 |
53273.310 |
|
|
|
|
|
|
TOTAL |
420011.672 |
355566.436 |
270615.974 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
103783.615 |
86697.613 |
67510.904 |
|
|
|
Other Income |
31.851 |
52.698 |
29.236 |
|
|
|
TOTAL (A) |
103815.466 |
86750.311 |
67540.140 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
46506.960 |
42985.178 |
29374.474 |
|
|
|
Purchases of Stock-in-Trade |
3323.810 |
2916.564 |
856.140 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(35.323) |
(2687.922) |
4016.266 |
|
|
|
Employees benefits expense |
2752.188 |
2235.417 |
1893.051 |
|
|
|
Other expenses |
18748.827 |
14249.777 |
10839.310 |
|
|
|
TOTAL (B) |
71296.462 |
59699.014 |
46979.241 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
32519.004 |
27051.297 |
20560.899 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14380.289 |
10816.537 |
7360.448 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18138.715 |
16234.760 |
13200.451 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8783.827 |
7465.512 |
5059.775 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
9354.888 |
8769.248 |
8140.676 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3000.000 |
3050.000 |
2800.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
6354.888 |
5719.248 |
5340.676 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14841.914 |
11210.392 |
7878.104 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred to General Reserve |
3300.000 |
2076.381 |
2000.000 |
|
|
|
Proposed Equity Final Dividend |
9.686 |
9.686 |
7.217 |
|
|
|
Proposed Preference Dividend |
4.581 |
0.011 |
0.000 |
|
|
|
Tax on Proposed Equity Dividend |
1.646 |
1.646 |
1.171 |
|
|
|
Tax on Proposed Preference Dividend |
0.779 |
0.002 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
17880.110 |
14841.914 |
11210.392 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
22656.904 |
15019.412 |
13849.910 |
|
|
|
Interest |
0.000 |
0.000 |
8.472 |
|
|
TOTAL EARNINGS |
22656.904 |
15019.412 |
13858.382 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9436.996 |
|
|
|
|
|
Raw Materials Traded |
2563.024 |
2380.581 |
|
|
|
|
Stores and Spares |
596.737 |
398.902 |
|
|
|
|
Capital Goods |
2168.313 |
6607.684 |
|
|
|
TOTAL IMPORTS |
14765.070 |
19141.193 |
14016.919 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
32.78 |
29.52 |
37.00 |
|
|
|
Diluted |
26.33 |
25.63 |
32.26 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
19561.446 |
19530.591 |
10474.517 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
29544.012 |
13018.893 |
21070.893 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.12 |
6.60 |
7.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
31.33 |
31.20 |
30.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.99 |
4.13 |
4.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.62 |
3.95 |
3.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75 |
0.78 |
0.89 |
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 |
1937.150 |
2013.337 |
2366.466 |
|
Reserves & Surplus |
52652.758 |
60722.450 |
78786.254 |
|
Net
worth |
54589.908 |
62735.787 |
81152.720 |
|
|
|
|
|
|
long-term borrowings |
132105.195 |
179971.013 |
224088.392 |
|
Short term borrowings |
36494.983 |
48603.314 |
49854.240 |
|
Current maturities of
long-term debts |
10474.517 |
19530.591 |
19561.446 |
|
Total
borrowings |
179074.695 |
248104.918 |
293504.078 |
|
Debt/Equity
ratio |
3.280 |
3.955 |
3.617 |
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 |
67510.904 |
86697.613 |
103783.615 |
|
|
|
28.420 |
19.708 |
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 |
67510.904 |
86697.613 |
103783.615 |
|
Profit |
5340.676 |
5719.248 |
6354.888 |
|
|
7.91% |
6.60% |
6.12% |
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 |
Yes |
|
8] |
Designation of contact person |
Yes |
|
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 |
|
|
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 |
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 |
10520691 |
08/09/2014 |
600,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
C21237128 |
|
2 |
10509764 |
10/07/2014 |
400,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
HOTEL NIDHI COMPLEX, POWER HOUSE ROAD, ROURKELA, ORISSA - 769001, INDIA |
C11848454 |
|
3 |
10511997 |
02/07/2014 |
300,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE
BRANCH, E BLOCK, CONNAUGHT PLACE, |
C14433205 |
|
4 |
10505248 |
25/06/2014 |
1,500,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH,
SCO 117-119, SECTOR 17-C, |
C08545543 |
|
5 |
10506847 |
25/06/2014 * |
4,000,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICE BRANCH, 3, WALCHAND, |
C11848116 |
|
6 |
10504097 |
25/06/2014 * |
1,000,000,000.00 |
BANK OF INDIA |
MID CORPORATE
BRANCH, SECTOR 17-B, CHANDIGARH, CH |
C11989431 |
|
7 |
10496263 |
25/06/2014 * |
1,500,000,000.00 |
ALLAHABAD BANK |
MADHYA MARG, SECTOR
8-C, CHANDIGARH, CHANDIGARH - |
C15315740 |
|
8 |
10505760 |
25/06/2014 * |
3,000,000,000.00 |
BANK OF MAHARASHTRA |
SOUTH EXTENSION, PART I, A-13, RING ROAD, NEW DELHI, DELHI - 110049, INDIA |
C15727530 |
|
9 |
10494073 |
25/06/2014 * |
5,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, PNB HOUSE, SECTOR 17-B, C HANDIGARH, CHANDIGARH - 160017, INDIA |
C13663364 |
|
10 |
10494071 |
29/03/2014 |
1,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, PNB HOUSE, SECTOR 17-B, C HANDIGARH, CHANDIGARH - 160017, INDIA |
C04438263 |
|
11 |
10490384 |
24/09/2014 * |
47,600,000,000.00 |
STATE BANK OF INDIA
(ACTING AS LENDERS' AGENT AND |
INDUSTRIAL FINANCE
BRANCH, 14TH FLOOR, JAWAHAR VY |
C26123380 |
|
12 |
10490366 |
12/03/2014 |
3,000,000,000.00 |
STATE BANK OF INDIA
(ACTING AS LENDERS AGENT & SEC |
INDUSTRIAL FINANCE
BRANCH, 14TH FLOOR, JAWAHAR VYAPAR BHAVAN, 1, TOLSTOY MARG, NEW DELHI, DELHI
- 1 |
C03833415 |
|
13 |
10481906 |
25/06/2014 * |
2,000,000,000.00 |
IDBI BANK LIMITED |
3RD FLOOR, INDIAN
RED CROSS SOCIETY BUILDING, 1, |
C09076753 |
|
14 |
10485270 |
20/02/2014 |
2,000,000,000.00 |
INDIAN OVERSEAS BANK |
PRAKASH DEEP
BUILDING, 7 TOLSTOY MARG, NEW DELHI, |
C00621953 |
|
15 |
10483176 |
25/06/2014 * |
1,000,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
A 301, III FLOOR,
STATESMAN HOUSE, 148, BARAKHAMB |
C12255493 |
|
16 |
10472682 |
29/08/2014 * |
11,050,000,000.00 |
DEUTSCHE BANK AG
(SECURITY AGENT OF KFW AND KFW IP |
KODAK HOUSE, 222, DR D. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C19405729 |
|
17 |
10472674 |
21/01/2014 |
4,550,000,000.00 |
DEUTSCHE BANK AG (SECURITY
AGENT OF DEUTSCHE BANK |
KODAK HOUSE, 222, DR D. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B94407020 |
|
18 |
10473502 |
25/06/2014 * |
8,000,000,000.00 |
LIFE INSURANCE CORPORATION OF INDIA |
YOGAKSHEMA, 6TH FLOOR, INVESTMENT DEPARTMENT, WEST WING, JEEWAN BIMA MARG, MUMBAI, MAHARASHTRA - 400021, INDIA |
C10133031 |
|
19 |
10473465 |
29/11/2013 |
1,000,000,000.00 |
U27100DL1999PLC108350 |
LARGE CORPORATE
BRANCH, SECTOR 17-B, CHANDIGARH, |
B94679032 |
|
20 |
10468385 |
19/11/2013 |
2,000,000,000.00 |
CANARA BANK |
SCO 117-119, SECTOR
17-C, CHANDIGARH, CHANDIGARH |
B92797257 |
|
21 |
10464340 |
19/11/2013 * |
3,456,500,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
2ND, FLOOR, E BLOCK, AXIS HOUSE, BOMBAY DYEING, COMPOUND, PANDHURANG BHUDKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B93240919 |
|
22 |
10462209 |
09/11/2013 |
2,000,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
A 301, III FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B90346982 |
|
23 |
10464267 |
31/10/2013 |
119,999,930.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V.
B. GANDHI MARG, FORT, MUMBAI, |
B91159871 |
|
24 |
10455673 |
21/10/2013 |
1,000,000,000.00 |
STATE BANK OF MYSORE |
3,4,5, D.D.A BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B87780532 |
|
25 |
10455674 |
19/11/2013 * |
7,100,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
2ND, FLOOR, E BLOCK, AXIS HOUSE, BOMBAY DYEING, COMPOUND, PANDHURANG BHUDKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B93233435 |
|
26 |
10450506 |
25/09/2013 |
1,000,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING FLOOR 21, WORLD TRADE CENTRE COMPLEX CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B85544666 |
|
27 |
10455732 |
25/06/2014 * |
15,000,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,
14TH FLOOR, JAWAHAR VYAPAR BHAVAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - |
C12257754 |
|
28 |
10451396 |
05/08/2013 |
1,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE
BRANCH, SECTOR 17-B, CHANDIGARH, |
B85889046 |
|
29 |
10445993 |
19/11/2013 * |
2,500,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICE BRANCH, 3, WALCHAND, |
B93977973 |
|
30 |
10444787 |
02/07/2013 |
1,000,000,000.00 |
INDIAN OVERSEAS BANK |
PRAKASH DEEP
BUILDING, 7 TOLSTOY MARG, NEW DELHI, |
B82968330 |
|
31 |
10443404 |
19/11/2013 * |
2,000,000,000.00 |
SYNDICATE BANK |
C-18, PASCHIMI MARG, VASANT VIHAR, NEW DELHI, DELHI - 110057, INDIA |
B92860337 |
|
32 |
10442540 |
28/06/2013 |
5,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE
BRANCH, SECTOR 17-B, CHANDIGARH, |
B81924128 |
|
33 |
10436641 |
19/11/2013 * |
1,000,000,000.00 |
INDIAN OVERSEAS BANK |
PRAKASH DEEP BUILDING, 7, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B92982222 |
|
34 |
10437831 |
19/11/2013 * |
3,000,000,000.00 |
BANK OF INDIA |
MID CORPORATE BRANCH, SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B93022572 |
|
35 |
10432486 |
19/11/2013 * |
1,000,000,000.00 |
VIJAYA BANK |
BRAKHAMBA ROAD
BRANCH, GROUND FLOOR VIJAYA BUILDI |
B92756949 |
|
36 |
10432776 |
19/11/2013 * |
2,000,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, PARLIAMENT STREET, JEEVAN TARA BUILDING, NEW DELHI, DELHI - 110001, INDIA |
B93334340 |
|
37 |
10435253 |
19/11/2013 * |
1,500,000,000.00 |
STATE BANK OF MYSORE |
3,4,5, D.D.A BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B93232155 |
|
38 |
10434701 |
11/06/2013 |
552,000,000.00 |
BAYERISCHE LANDESBANK |
BRIENNERSTRABE 18, 80333, MUNICH, - 80333, GERMANY |
B78668571 |
|
39 |
10434086 |
19/11/2013 * |
2,000,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING
BRANCH, HINDUSTAN TIMES HOUSE, |
B92777473 |
|
40 |
10434231 |
21/05/2013 |
15,006,300,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, 14TH FLOOR,, JAWAHAR V |
B78465051 |
|
41 |
10428658 |
19/11/2013 * |
3,000,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH, 11 HEMANTA BSU SARANI, KOLKATA, WEST BENGAL - 700001, INDIA |
B93239531 |
|
42 |
10426854 |
08/04/2013 |
1,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE
BRANCH, SECTOR 17-B, CHANDIGARH, |
B75525253 |
|
43 |
10414552 |
19/11/2013 * |
2,000,000,000.00 |
ANDHRA BANK |
SCO 202-204, SECTOR
17-C, CHANDIGARH, CHANDIGARH |
B93022853 |
|
44 |
10422454 |
19/11/2013 * |
1,500,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
6, DEVIKA TOWER, NEHRU
PLACE, NEW DELHI, DELHI - |
B92820810 |
|
45 |
10418998 |
19/11/2013 * |
2,000,000,000.00 |
STATE BANK OF HYDERABAD |
COMMERCIAL BRANCH,
74 JANPATH, NEW DELHI, DELHI - |
B92792217 |
|
46 |
10421292 |
19/11/2013 * |
2,000,000,000.00 |
STATE BANK OF TRAVANCORE |
COMMERCIAL BRANCH,
TRAVANCORE HOUSE K G MARG, NEW |
B93004950 |
|
47 |
10420722 |
19/11/2013 * |
2,820,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PARK STREET BRANCH, 107/1, PARK STREET (1ST FLOOR), KOLKATA, WEST BENGAL - 700016, INDIA |
B93135572 |
|
48 |
10422599 |
26/03/2013 |
1,500,000,000.00 |
SYNDICATE BANK |
C-18, PASCHIMI
MARG, VASANT VIHAR, NEW DELHI, DEL |
B73988644 |
|
49 |
10416412 |
19/11/2013 * |
2,000,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, 2ND FLOOR, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B93863157 |
|
50 |
10412221 |
11/03/2013 |
1,000,000,000.00 |
ANDHRA BANK |
SCO 202-204, SECTOR
17-C, CHANDIGARH, CHANDIGARH |
B70916846 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
From Banks |
3000.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
From Banks |
|
|
|
Commercial Paper |
800.000 |
2500.000 |
|
Rupee Loans |
0.000 |
500.000 |
|
|
|
|
|
From Others |
|
|
|
Loan from Related Party |
100.148 |
0.000 |
|
Total |
3900.148 |
3000.000 |
HIGHLIGHTS OF
OPERATIONAL PERFORMANCE
The company continues to innovated new products to enlarge market share and manage effectively supply chain management, product mix enrichment, improvement in quality and productivity.
The company achieved gross revenue for operation of Rs. 112887.000 Million as compared to Rs. 95174.700 Million last year recording growth of 18.61%. Profit after tax increased by 11.13% as compared to last year to Rs. 6354.900 Million. Cash Profit increased by 11.73% to Rs/ 18138.700 Million. Better market demand, higher exports and better realization during the year has resulted into increased financial performance.
INDUSTRY OVERVIEW –
GLOBAL SCENARIO
Change in the Government at the Centre has wired message of growth in the manufacturing sector which was slowed down over the years. Govt has put its priority to bring the Industry on path of growth and generate employment. Steel, Power and Infrastructure industries are expecting the policies to be growth oriented. The present GDP is 4.7% p.a. in 2013-14 is expected to grow upto 5.5 - 5.6% p.a. in 2014-2015. Reserve Bank of India constantly taking steps to keep the foreign exchange fluctuations under control and strength the Indian currency. Mining policies are expected
to be growth oriented where the Government is steering for more mineable reserve to the industry. Govt. is also giving a thought to amend the existing MMDRA to facilitate the quick disposal and smooth operation of mines. Simultaneously the Land Acquisition Act is also on the card of the Govt. to consider and amend in the larger interest of the industry.
Govt. has been striving for strengthening the manufacturing sector for generating more employment. Production target of Steel under National Steel Policy 2005 has also been set.
Globally the EU emerged out of its longest recession, the recovery in the USA gained ground (despite shutdown, tapering et al) and manufacturing bounced back in the developed block. But China, despite a strong 7.7% GDP growth in 2013 remained in slowdown mode, a major concern for the global steel fraternity. With betterment of overall economic conditions at home and globally widely projected in FY 2015, 2013-14 proved to be another year when the Indian Steel Industry was at its resilient self.
The Global apparent steel use at 1481 MT in 2013 and projected at 1527 MT in 2014 is up by 3.1% and Chinese apparent steel use at 700 MT in 2013 and projected at 721 MT in 2014 increased by 3%.
Consumer and business spending in US is rising. Housing construction, auto sales and ISM manufacturing index has marginally moved. Further the general feeling is that the steel industry will turn around in 2014-15.
Latest business environment ranking by the economist show india at 61st position with China at 49th , Brazil at 41st and Russia at 59th position, however in terms of infrastructure construction most countries other than China scored much lower. As the the total financing of the envisaged infrastructure investment in India is beyond the means of the government , an enabling environment for the private corporate sector and FDI capital inflow needs to be created.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Bills discounted with banks |
4323.949 |
1746.869 |
|
Claims against the Company not acknowledged as debt |
1260.142 |
1300.870 |
|
Central / State Sales Tax Act |
814.587 |
680.245 |
|
Odisha Entry Tax Act |
51.698 |
51.698 |
|
Central Excise Act,1944 |
1379.126 |
501.003 |
|
Income Tax Act,1961 |
384.737 |
537.305 |
|
Service Tax |
1.093 |
1.456 |
FIXED ASSETS
Tangible Assets
Freehold Land
Leasehold Land
Building
Railway Siding
Plant and Equipment
Furniture and Fixture
Office Equipment
Vehicles
Intangible Assets
Technical Knowhow
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.65.29 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
16 |
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.