|
|
|
MIRA INFORM REPORT
|
Report No. : |
486728 |
|
Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
INDIANOIL PETRONAS PRIVATE LIMITED |
|
|
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|
Registered
Office : |
Acropolis, 12th Floor, Unit I and II Premises No. 1858/1, Rajdanga
Main Road, Kolkata-700107, West Bengal |
|
Tel. No.: |
91-33-40345028 / 40345003 / 40345028 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2016 |
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|
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Date of Incorporation
: |
03.12.1998 |
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|
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|
Com. Reg. No.: |
21-219339 |
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Capital
Investment / Paid-up Capital : |
INR 2680.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899WB1998PTC219339 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAACI5573R |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in providing Terminalling and Bottling Services of LPG and Sale of Butane, Propane and manufactured LPG after blending Butane and Propane in required proportion. [Registered Activity] |
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|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
Status : |
Excellent |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1998. It is a joint venture between Indian Oil Corporation Limited, India and Petroliam Nasional Berhad (PETRONAS), Malaysia. The company provides terminal services to public sector oil marketing companies. It also imports propane and butane for direct marketing to industrial customers and retailing of automotive LPG in India. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. As per the financial of 2016, the company has achieved a satisfactory profitability margin of 22.79%. However, it has reported a decline of 6.57% in its revenue as compared to the previous year’s revenue. The rating takes into consideration the strong financial position of the company marked by sound capital structure along with healthy networth base, strong debt coverage indicator due to low debt balance sheet profile, favourable gap between its trade receivables and trade payables and acceptable liquidity position. Rating also takes into consideration the company’s long established track record and strength that it derives from its joint venture companies and its well experience management team. Business is active. Payments are reported to be slow but correct. In view of sound financial position, the company can be considered good for normal 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term loans = AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
24.10.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
24.10.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 19.01.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Amithabh Roy |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-33-40345028 |
|
|
|
|
Name : |
Mr. Hoza |
|
Designation : |
Financial controller |
|
Contact No.: |
91-33-40345003 |
|
Date : |
18.01.2018 |
LOCATIONS
|
Registered Office / Corporate Office : |
Acropolis, 12th Floor, Unit I and II Premises No. 1858/1, Rajdanga
Main Road, Kolkata-700107, West Bengal, India |
|
Tel. No.: |
91-33-40345028 / 40345003 / 40345028 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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Terminals at Haldia
: |
Kasberia, Haldia, District - Purba Medinipur-721602, West Bengal, India |
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Terminals at Ennore
: |
143, Athipattu Village, NCTPS Main Road, Chennai-600120, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Shamsul Bahari Bin Salleh |
||||||||
|
Designation : |
Nominee Director |
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Address : |
No.21, Jln Lengkok Utama Tmn Koperasi Uda Hulu Langat Selangor 43100, Malaysia |
||||||||
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Date of Birth/Age : |
10.06.1966 |
||||||||
|
Date of Appointment : |
12.03.2012 |
||||||||
|
DIN No.: |
05216951 |
||||||||
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|
||||||||
|
Name : |
Ahmad Hakimi Bin Muhammad Radzi |
||||||||
|
Designation : |
Nominee Director |
||||||||
|
Address : |
17, Jalan Melawati 5, Taman Melawati Kuala, Lumpur 53100, Malaysia |
||||||||
|
Date of Birth/Age : |
06.07.1973 |
||||||||
|
Date of Appointment : |
27.11.2013 |
||||||||
|
DIN No.: |
06729791 |
||||||||
|
|
|
||||||||
|
Name : |
Jazlinawati Binti Osman |
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|
Designation : |
Nominee Director |
||||||||
|
Address : |
No. 19 Jalan 6/27/D, Wangsa Maju Kuala Lumpur W Persekutuan 53300, Malaysia |
||||||||
|
Date of Birth/Age : |
23.02.1974 |
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|
Date of Appointment : |
28.02.2014 |
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|
DIN No.: |
06788051 |
||||||||
|
|
|
||||||||
|
Name : |
Yashvir Kumar Gupta |
||||||||
|
Designation : |
Nominee Director |
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|
Address : |
Flat No.2F, Neelanjan Apartment, 18/2 Gariahat Road, Kolkata-700019, West Bengal, India |
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|
Date of Birth/Age : |
20.06.1960 |
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|
Qualification : |
BE (Civil) |
||||||||
|
Date of Appointment : |
06.05.2015 |
||||||||
|
PAN No.: |
AADPG4389F |
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|
DIN No.: |
07154803 |
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|
|
|
||||||||
|
Name : |
Amita Singh |
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|
Designation : |
Director |
||||||||
|
Address : |
C-4/4070, Vasant Kunj, New Delhi-110070, India |
||||||||
|
Date of Appointment : |
22.12.2015 |
||||||||
|
DIN No.: |
07370410 |
||||||||
|
|
|
||||||||
|
Name : |
Sandeep Kumar Gupta |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
101, Priyadarshni Apartments GH - 34A, Sector – 56, Gurugram-122011, Haryana, India |
||||||||
|
Date of Appointment : |
29.07.2016 |
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|
DIN No.: |
07570165 |
||||||||
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|
||||||||
|
Name : |
Sukhendu Majumdar |
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|
Designation : |
Nominee Director |
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|
Address : |
Flat H 605, Indianoil Apartment C 58/23, Sector 62, Noida-201309, Uttar Pradesh, India |
||||||||
|
Date of Appointment : |
06.02.2017 |
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|
DIN No.: |
07714992 |
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Other Directorship:
|
|||||||||
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|
||||||||
|
Name : |
Nasmiza Binti Ismail |
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|
Designation : |
Nominee Director |
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|
Address : |
3432, Persiaran Kasawari 1 Desa Haras, Taman Zoo View Ampang Selangor 68000 Malaysia |
||||||||
|
Date of Appointment : |
24.08.2017 |
||||||||
|
DIN No.: |
07879098 |
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KEY EXECUTIVES
|
Name : |
Haza Rizal Bin Borhan |
|
Designation : |
Company Financial Officer |
|
Address : |
1C, Tower 4, South City Apartment, Prince Anwar Shah Road, Kolkata-700068, West Bengal, India |
|
Date of Appointment : |
07.09.2016 |
|
PAN No.: |
CRLPB3326A |
|
|
|
|
Name : |
Satish Kumar Vaduguri |
|
Designation : |
Chief Executive Officer |
|
Address : |
Flat 4F, 4th Floor, Neelanjan Apartment 18/2, Gariahat Road, Kolkata-700019, West Bengal, India |
|
Date of Appointment : |
01.09.2016 |
|
PAN No.: |
ACCPV2705P |
|
|
|
|
Name : |
Suparna Chakraborty |
|
Designation : |
Company Secretary |
|
Address : |
B/66A Rajapur (East) P.O. Santoshpur, Kolkata-700075, West Bengal, India |
|
Date of Birth/Age : |
05.01.1968 |
|
Date of Appointment : |
01.05.2014 |
|
PAN No.: |
AEPPC0611J |
|
|
|
|
Name : |
Mr. Amithabh Roy |
|
Designation : |
Accounts Department |
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|
|
|
Name : |
Mr. Hoza |
|
Designation : |
Financial controller |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Indian Oil Corporation Limited, India |
134000000 |
50.00 |
|
Petroliam Nasional Berhad (PETRONAS), Malaysia |
134000000 |
50.00 |
|
Total |
268000000 |
100.00 |
AS ON 24.08.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Government - Government companies |
50.00 |
|
Promoters - Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in providing Terminalling and Bottling Services of LPG and Sale of Butane, Propane and manufactured LPG after blending Butane and Propane in required proportion. [Registered Activity] |
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Products / Services
: |
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
Note: (A) Term loan from HDFC Bank is secured by way of first pari passu charge on the fixed assets of the Ennore LPG Import/Export Terminal and second pari passu charge on the fixed assets at the Haldia LPG Import/Export Terminal, both present and future. The Loan carries interest at HDFC Base Rate. The loan amount availed was INR 3140.000 million. The loan is repayable in 32 equal quarterly installments starting from 30/09/2012 till 31/06/2020.
(B) Term loan from HDFC Bank is secured by way of first pari passu charge on the fixed assets of the Ennore LPG Import/Export Terminal and second pari passu charge on the fixed assets at the Haldia LPG Import/Export Terminal, both present and future. The Loan carries interest at HDFC Base Rate. The loan amount availed was INR 3140.000 million. The loan is repayable in 32 equal quarterly installments starting from 30/09/2012 till 31/06/2020. |
|
Auditors : |
|
|
Name : |
Ray and Ray Chartered Accountants |
|
Address : |
6 Church Lane, Kolkata, West Bengal, India |
|
PAN No.: |
AADFR8764R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint Venture : |
CIN No.:L23201MH1959GOI011388
|
|
|
|
|
Associate Company : |
Petronas Trading Corporation Sdn. Bhd. (PETCO), Malaysia |
CAPITAL STRUCTURE
AS ON 24.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
INR 10/- each |
INR 5000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
268000000 |
Equity Shares |
INR 10/- each |
INR 2680.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2680.000 |
2680.000 |
2680.000 |
|
(b) Reserves &
Surplus |
4876.322 |
3968.870 |
3005.040 |
|
(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) |
7556.322 |
6648.870 |
5685.040 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1275.625 |
1668.125 |
2060.625 |
|
(b) Deferred tax
liabilities (Net) |
807.487 |
782.272 |
704.335 |
|
(c) Other long term
liabilities |
0.043 |
2.005 |
17.044 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.987 |
|
Total Non-current
Liabilities (3) |
2083.155 |
2452.402 |
2782.991 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
792.116 |
1169.982 |
793.687 |
|
(c) Other current
liabilities |
752.950 |
633.764 |
685.057 |
|
(d) Short-term provisions |
965.924 |
679.060 |
940.998 |
|
Total Current Liabilities
(4) |
2510.990 |
2482.806 |
2419.742 |
|
|
|
|
|
|
TOTAL |
12150.467 |
11584.078 |
10887.773 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5823.384 |
5851.819 |
6122.883 |
|
(ii) Intangible Assets |
7.332 |
11.134 |
6.031 |
|
(iii) Capital
work-in-progress |
1014.106 |
533.094 |
6.039 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
473.763 |
537.087 |
366.118 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
7318.585 |
6933.134 |
6501.071 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
654.778 |
664.444 |
1319.333 |
|
(c) Trade receivables |
832.770 |
499.585 |
912.769 |
|
(d) Cash and cash equivalents |
3125.160 |
2875.113 |
1583.833 |
|
(e) Short-term loans and
advances |
186.399 |
569.251 |
552.353 |
|
(f) Other current assets |
32.775 |
42.551 |
18.414 |
|
Total Current Assets |
4831.882 |
4650.944 |
4386.702 |
|
|
|
|
|
|
TOTAL |
12150.467 |
11584.078 |
10887.773 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
9643.518 |
10321.329 |
15083.187 |
|
|
Other Income |
265.717 |
131.467 |
99.720 |
|
|
TOTAL |
9909.235 |
10452.796 |
15182.907 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2705.956 |
4169.970 |
8160.371 |
|
|
Purchases of
Stock-in-Trade |
1682.234 |
1403.052 |
2872.506 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.997 |
17.022 |
0.005 |
|
|
Employees benefits
expense |
107.355 |
94.577 |
87.088 |
|
|
CSR expenditure |
0.060 |
19.700 |
0.000 |
|
|
Prior period items |
0.000 |
42.999 |
(35.006) |
|
|
Exceptional items |
0.000 |
(15.013) |
0.000 |
|
|
Other expenses |
1604.676 |
1490.770 |
1619.283 |
|
|
TOTAL |
6102.278 |
7223.077 |
12704.247 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3806.957 |
3229.719 |
2478.660 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
182.731 |
236.234 |
285.503 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
3624.226 |
2993.485 |
2193.157 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
300.443 |
296.207 |
550.084 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
3323.783 |
2697.278 |
1643.073 |
|
|
|
|
|
|
|
Less |
TAX |
1126.098 |
948.373 |
593.076 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
2197.685 |
1748.905 |
1049.997 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
3670.863 |
2751.532 |
2747.175 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
1072.000 |
536.000 |
804.000 |
|
|
Dividend Distribution Tax |
218.234 |
107.168 |
136.640 |
|
|
General Reserve |
219.770 |
174.900 |
105.000 |
|
|
CSR Reserve |
41.039 |
11.506 |
0.000 |
|
|
Total |
1551.043 |
829.574 |
1045.640 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
4317.505 |
3670.863 |
2751.532 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
8.20 |
6.53 |
3.92 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
392.500 |
392.500 |
392.500 |
|
Net cash flows from (used in) operations |
3484.109 |
4119.105 |
2762.627 |
|
Net cash flows from (used in) operating activities |
2258.933 |
3384.376 |
2263.153 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
31.52 |
17.67 |
22.09 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
11.58 |
20.66 |
16.52 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
65.89 |
76.63 |
26.26 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
5.81 |
4.86 |
1.88 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.56 |
0.50 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.34 |
0.39 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.22 |
0.31 |
0.43 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.33 |
0.37 |
0.43 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.91 |
0.96 |
1.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
20.83 |
13.67 |
8.68 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
22.79 |
16.94 |
6.96 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
18.09 |
15.10 |
9.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
29.08 |
26.30 |
18.47 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.92 |
1.87 |
1.81 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.66 |
1.61 |
1.27 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.62 |
0.57 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.62 |
0.77 |
0.92 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.92 |
1.87 |
1.81 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
2680.000 |
2680.000 |
2680.000 |
|
Reserves & Surplus |
3005.040 |
3968.870 |
4876.322 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5685.040 |
6648.870 |
7556.322 |
|
|
|
|
|
|
long-term borrowings |
2060.625 |
1668.125 |
1275.625 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long term debt |
392.500 |
392.500 |
392.500 |
|
Total borrowings |
2453.125 |
2060.625 |
1668.125 |
|
Debt/Equity ratio |
0.432 |
0.310 |
0.221 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
15083.187 |
10321.329 |
9643.518 |
|
|
|
(31.571) |
(6.567) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
15083.187 |
10321.329 |
9643.518 |
|
Profit |
1049.997 |
1748.905 |
2197.685 |
|
|
6.96% |
16.94% |
22.79% |
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 |
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 |
Yes |
|
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 |
No |
|
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 |
NOTE: Registered office of the company has been
shifted from Flat No. 1106, 11th Floor, Naurang House, 21, Kasturba Gandhi
Marg, New Delhi-110001, India to the present
address w.e.f. 01.02.2017.
FINANCIAL PERFORMANCE
In the financial year 2015-16, the Company has achieved a profit before tax of INR 3323.780 million and profit after tax of INR 2197.690 million as compared to the profit before tax of INR 2697.280 million and profit after tax of INR 1748.900 million for the financial year 2014-15. The Company has registered an increase of more than 23% in the profit before tax of the current financial year over the last financial year which is highest ever since inception of the Company. The total Terminalling Revenue of the Company has gone up by 8.35% as compared to the previous year. The total Trading/ Marketing Revenue of the Company consisting of Direct Sale, High Sea Sale and Auto LPG Dispensing Stations (ALDSs) has decreased by almost 18% on overall basis as compared to the previous year, although the sales volume has shown a growth, on account of huge fall in CP during the year.
The Bottling revenue has increased by almost 23% due to increase in the number of serviceable cylinders.
OPERATING PERFORMANCE
The total terminalling services volume increased by 8.12% during the year 2015-16 over the previous financial year. The total sales volume consisting of direct sales and auto LPG sales has gone up by 15.34% as compared to the last year. The direct sales volume has registered a growth of 12.42% and the Auto LPG sales volume has registered a growth of almost 49% during the year under review over the last year. In case of Auto LPG the growth is mainly on account of stabilization / growth in sales from existing ALDS and addition of 5 nos of ALDS during the year. Bottling volume is increased by almost 27% mainly due to increase in the number of serviceable cylinders made available by the PSU Oil companies. In the High Sea Sales (HSS) sector, the volume has registered a growth of almost 120% over the previous year since there was complete stoppage of direct import in the previous year due to dispute with the Customs Authority since February 2014.
A brief comparative summary of operating performance is as under:
|
Activities |
2015-16 (Qty/TMTs) |
|
Terminalling and Safekeeping |
3331.73 |
|
Trading / Marketing |
128.25 |
|
Bottling |
201.11 |
OPERATIONS AND DIRECT
SALES
Handling and Parallel Marketing of Propane/ Butane/ LPG:
During the year, a total of 3331.73 TMT of Propane/ Butane/ LPG was handled by way of Terminalling and Direct sales, as compared to 3081.61 TMT in the previous year. This was the highest volume of Terminalling Operations undertaken by the Company since its inception It also carried out 201.11 TMT of Bottling.
The Company has also continued to register its presence as one of the leading parallel marketing company with a sales volume of 122.75 TMT (Previous Year 106.42 TMT) and thus registering a growth of 15.34% by spreading its presence across the country. A number of niche customers viz. Tata Motors, Tin Plate, Kadimi Steel, Isuzu Motors, Hi Temp ans Kellogs etc. have been added to the list of IPPLs customers. In line with Marketing strategy approved by the Board the Company has entered in to an agreement with M/s. High Temp, Chennai for providing reticulated facilities with exclusive right of supply of propane for a period of 10 years and is also commissioned a reticulated facility at Sricity, Andhra Pradesh for Isuzu Motors with 10 years exclusive right to supply Propane.
At the LPG installation at SARA Industrial Estate, Dehradun, the Company has achieved a sales volume of 750.64 MT during the year 2015-16 as against 618.45 MT in 2014-15 and thereby registering a growth of more than 21.37%.
The Company is equipped to manufacture and supply products ranging from straightrun propane, straightrun Butane with varying mix of iso and normal straight-run LPG with varying mix of Propane and Butane, Hydrogenated C4 mix, Automotive LPG as per IS : 14861 : 2000 and zero mercaptan LPG for aerosols. Within a short span of time, the Company has established itself as a dependable fuel source for industries focusing on heat treatment through seal quenched furnaces, rotary furnaces, pit-type gas carburizing furnaces, induction hardening machines, endo-gas generators for annealing, normalising through case hardening, carburizing, carbo-nitriding and induction hardening heat treatment processes.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G60913365 |
10312326 |
HDFC BANK LIMITED |
28/09/2011 |
- |
26/10/2017 |
3140000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
2 |
G60907631 |
10201486 |
HDFC BANK LIMITED |
29/01/2010 |
- |
26/10/2017 |
3140000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
3 |
A70898291 |
80038243 |
THE BANK OF NOVA SCOTIA |
05/08/2004 |
26/10/2004 |
23/09/2009 |
200000000.0 |
Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi-110001, India |
|
4 |
A70885934 |
10012317 |
SOCIETE GENERALE |
14/06/2006 |
- |
23/09/2009 |
200000000.0 |
6th Floor, Mohan Dev 13 Tolstoy Marg, New Delhi-110001, India |
|
5 |
A69716009 |
10020267 |
STATE BANK OF HYDERABAD |
13/09/2006 |
- |
10/09/2009 |
90000000.0 |
Nariman Point Branch, 11-C, Mittal Towers, 210, Nariman Point, Mumbai-400021, Maharashtra, India |
|
6 |
A69715613 |
80054129 |
State Bank of Hyderabad |
08/07/2004 |
- |
10/09/2009 |
150000000.0 |
Nariman Point Branch, 11-C, Mittal Towers, 210, Nariman Point, Mumbai-400021, Maharashtra, India |
|
7 |
A69244127 |
80038245 |
CALYON BANK |
27/04/2005 |
- |
18/08/2009 |
350000000.0 |
Mercantile House, 6th Floor, 15, Kasturba Gandhi Marg, New Delhi-110001, India |
|
8 |
A64417959 |
10008450 |
CITIBANK N.A. |
23/06/2006 |
- |
05/06/2009 |
100000000.0 |
Jeevan Vihar Building, 3 Sansad Marg, New Delhi-110001, India |
|
9 |
A64418809 |
10046367 |
CITI BANK N.A |
22/03/2007 |
- |
05/06/2009 |
160000000.0 |
Kanak Building 41, Chowringhee Road, Kolkata-700071, West Bengal, India |
|
10 |
A61784807 |
10020555 |
STATE BANK OF SAURASHTRA |
13/09/2006 |
- |
04/05/2009 |
221417795.41 |
17/18 A, Nariman Bhavan, 227, Nariman Point, Mumbai-400021, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
134.207 |
183.705 |
|
Guarantees |
32.564 |
51.994 |
|
Total |
166.771 |
235.699 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Electrical Installation
- Computer
- Vehicles
Intangible Asset:
· 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 records 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
|
INR |
|
US Dollar |
1 |
INR 63.84 |
|
|
1 |
INR 88.28 |
|
Euro |
1 |
INR 77.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.