|
|
|
MIRA INFORM REPORT
|
Report No. : |
488857 |
|
Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
NUMALIGARH REFINERY LIMITED |
|
|
|
|
Registered
Office : |
122A, G. S. Road, Christianbasti, Guwahati – 781005, Assam |
|
Tel. No.: |
91-361-2235841/ 2203147 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
22.04.1993 |
|
|
|
|
Com. Reg. No.: |
02-003893 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 7356.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U11202AS1993GOI003893 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
GSTIN/UIN: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN6984B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Refined Petroleum Products. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Available |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 150000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Bharat Petroleum Corporation
Limited-BPCL”. It was incorporated in the year 1993 and is engaged in the
business of manufacturing
of refined petroleum products. As per financials of March 2017, the company has registered a growth
of 16.95% in its revenue as compared to its previous year’s revenue and has
reported a good profit margin of 15.03% under review. Rating takes into consideration the company’s established track record
of business operations marked by healthy net worth base along with low
solvency indicators and good liquidity position. Rating also takes into account the financial and managerial support
received from its parent company. Further, the company has reported a good earnings per share of INR
28.55 against its face value of INR 10. However, rating strength is partially offset by location of company’s
facilities in a product-surplus region and relatively low utilization due to
the limited supply of crude oil in the north east region. Payments terms seems to be regular as a commitment. In view of aforesaid, the company can be considered good for business
dealings at normal 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
|
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 |
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 29.01.2018
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.
LOCATIONS
|
Registered Office : |
122A, G. S. Road, Christianbasti, Guwahati – 781005,
Assam, India |
|
Tel. No.: |
91-361-2235841/ 2203147 |
|
Fax No.: |
91-361-2203146/ 2203152 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
Site
Office:
|
P.O.: Numaligarh Refinery
Project, District Golaghat -785699, Assam, India |
|
Tel. No.: |
91-3776-265493 |
|
Fax No.: |
91-3776-265800 |
|
|
|
|
Refinery Unit : |
Pankagrant, Numaligarh Refinery Complex, District
Golaghat - 785699, Assam, India |
|
Tel. No.: |
91-3776-265493 |
|
Fax No.: |
91-3776-265800 |
|
|
|
|
Co-ordination
Office: |
Tolstoy House, 6th Floor, 15-17, Tolstoy Marg, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23739413 |
|
Fax No.: |
91-11-23739412 |
|
E-Mail : |
|
|
|
|
|
Marketing, BD and
Project Office : |
NEDFI House, 4th Floor, G. S. Road, Dispur, Guwahati – 781006, Assam, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Bhaskar Jyoti Phukan |
||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||
|
Address : |
Quarter No Devagiri-29, NRL Township,
Golaghat, Numaligarh- 785699 Assam, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
11.12.1968 |
||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||
|
Date of Appointment : |
01.02.2017 |
||||||||||||||||||||||||
|
DIN No.: |
07721895 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Saumendra Kumar Barua |
||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||
|
Address : |
14 River View, NRL Township Numaligarh
Golaghat -785699, Assam, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
16.01.1962 |
||||||||||||||||||||||||
|
Qualification: |
A.I.C.W.A and LLB |
||||||||||||||||||||||||
|
Date of Appointment : |
01.05.2013 |
||||||||||||||||||||||||
|
DIN No.: |
06503943 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Ravi Capoor |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
51, Chota Singh, Block Khel Gaon Marg, New
Delhi -110049, India |
||||||||||||||||||||||||
|
Date of Appointment : |
08.09.2017 |
||||||||||||||||||||||||
|
DIN No.: |
00744987 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Rajkumar Duraiswamy |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Flat No 8, Aditya, BPCL Staff Quarters
Ranganathan Garden- 600040, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Appointment : |
08.09.2017 |
||||||||||||||||||||||||
|
DIN No.: |
00872597 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Raj Kumar Sharma |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Raj Kr. Sharma Above Bank Of Baroda, 4th
Floor, G S Road, Bhangagarh, Guwahati -781005, Assam, India |
||||||||||||||||||||||||
|
Date of Appointment : |
08.09.2017 |
||||||||||||||||||||||||
|
DIN No.: |
01681944 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Utpal Bora |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
ONGC Guest House Bachelor Accommodation
ONGC, Palwasana, Mehsana -384003, Gujarat, India |
||||||||||||||||||||||||
|
Date of Appointment : |
09.09.2016 |
||||||||||||||||||||||||
|
DIN No.: |
07567357 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Sneh Lata Kumar |
||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||
|
Address : |
C- II / 38 Moti Bagh, New Delhi- 110021,
India |
||||||||||||||||||||||||
|
Date of Appointment : |
08.09.2017 |
||||||||||||||||||||||||
|
DIN No.: |
01499020 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Praphullac Handra Sharma |
||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||
|
Address : |
Flat No B 41, Mea Residential Complex, Dr. S
Radhakrishnan Marg, Chanakyapuri, New Delhi -110021, India |
||||||||||||||||||||||||
|
Date of Appointment : |
24.11.2017 |
||||||||||||||||||||||||
|
DIN No.: |
07468198 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Saumendra Kumar Barua |
|
Designation : |
Chief Finance Officer |
|
Address : |
14 River View, NRL Township, Numaligarh,
Golaghat -785699, Assam, India |
|
Date of Birth/Age : |
16.01.1962 |
|
Date of Appointment : |
24.05.2014 |
|
PAN No.: |
ABWPB3168K |
|
|
|
|
Name : |
Mr. Hamonta Kumar Sarmah |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.115, Block-IV Arunudoi Apartment,
Sarumotoria, Dispur, Guwahati -781006, Assam, India |
|
Date of Appointment : |
01.12.1993 |
|
PAN No.: |
AEXPS3934A |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
|
Bharat Petroleum Corporation Limited, India |
|
453545964 |
|
Government of Assam, India |
|
90821337 |
|
Oil India Limited |
|
191264202 |
|
Bharat Petroleum Corporation Limited Jointly with Ramaswamy Raja |
|
1 |
|
Bharat Petroleum Corporation Limited Jointly with R. P. Natekar |
|
8 |
|
Bharat Petroleum Corporation Limited Jointly with P. Balasubramaniam |
|
8 |
|
S.K. Agarwal jointly with Bharat Petroleum Corporation Limited, India |
|
8 |
|
S K Shivakumar jointly with Bharat Petroleum Corporation Limited,
India |
|
8 |
|
Ravi Capoor |
|
7 |
|
M Venugopal jointly with Bharat Petroleum Corporation Limited, India |
|
1 |
|
Total |
|
735631544 |
Equity Share Break up (Percentage of Total Equity)
AS ON 08.09.2017
|
Category |
Percentage |
|
Promoters- Government - State Government |
12.34603624 |
|
Promoters- Government - Government companies |
61.65395811 |
|
Promoters- Others |
0.00000557 |
|
Public/Other than promoters- Government - Government companies |
26.00000008 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Refined Petroleum Products. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Ghoshal and Ghosal Chartered Accountants |
|
Address : |
4, Commercial Building , 23, Netaji Subhas Road, Kolkata – 700001, West Bengal, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFG0985C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Bharat Petroleum Corporation Limited, India [L23220MH1952GOI008931] |
|
|
|
|
Ultimate Holding
company: |
Oil India Limited, India [L11101AS1959GOI001148] |
|
|
|
|
Associate company: |
DNP Limited, India [U51410AS2007SGC008410] |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
INR 10/- each |
INR 10000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
735631544 |
Equity Shares |
INR 10/- each |
INR 7356.300 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7356.300 |
7356.300 |
7356.300 |
|
(b) Reserves and Surplus |
44450.100 |
35435.600 |
26193.500 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
51806.400 |
42791.900 |
33549.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3344.600 |
4975.000 |
5030.300 |
|
(b) Deferred tax liabilities (Net) |
2294.400 |
1106.900 |
1442.300 |
|
(c) Other long-term
liabilities |
10.700 |
20.000 |
24.600 |
|
(d) long-term
provisions |
1254.600 |
4803.700 |
2793.600 |
|
Total Non-current
Liabilities (3) |
6904.300 |
10905.600 |
9290.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
186.400 |
4.400 |
1656.100 |
|
(b) Trade
payables |
7925.200 |
7240.600 |
15788.800 |
|
(c) Other
current liabilities |
4605.600 |
3137.900 |
3241.700 |
|
(d) Short-term
provisions |
947.000 |
793.300 |
5506.000 |
|
Total Current
Liabilities (4) |
13664.200 |
11176.200 |
26192.600 |
|
|
|
|
|
|
TOTAL |
72374.900 |
64873.700 |
69033.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
21189.500 |
20905.900 |
19223.700 |
|
(ii)
Intangible Assets |
6.000 |
14.800 |
28.500 |
|
(iii) Tangible assets
capital work-in-progress |
5456.500 |
2956.500 |
4247.500 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1866.500 |
1710.100 |
1703.900 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
396.600 |
325.600 |
514.800 |
|
(e) Other
Non-current assets |
227.800 |
217.400 |
0.000 |
|
Total Non-Current
Assets |
29142.900 |
26130.300 |
25718.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
3124.500 |
1463.900 |
2368.000 |
|
(b)
Inventories |
16285.500 |
10555.600 |
15985.100 |
|
(c) Trade
receivables |
8035.100 |
8193.100 |
12368.800 |
|
(d) Cash and
bank balances |
2533.000 |
29.400 |
10537.400 |
|
(e)
Short-term loans and advances |
74.500 |
91.400 |
1631.700 |
|
(f) Other
current assets |
13179.400 |
18410.000 |
423.800 |
|
Total
Current Assets |
43232.000 |
38743.400 |
43314.800 |
|
|
|
|
|
|
TOTAL |
72374.900 |
64873.700 |
69033.200 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
139469.200 |
119254.400 |
98624.200 |
|
|
Other Income |
3702.900 |
1410.100 |
737.800 |
|
|
TOTAL |
143172.100 |
120664.500 |
99362.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
74930.300 |
65302.500 |
77048.800 |
|
|
Purchases of
Stock-in-Trade |
1128.800 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2824.600) |
3990.300 |
(2116.900) |
|
|
Employee benefit expense |
2129.900 |
1878.100 |
1786.000 |
|
|
CSR expenditure |
207.000 |
115.200 |
77.900 |
|
|
Other expenses |
34264.500 |
28287.800 |
9142.500 |
|
|
Exceptional items before tax |
0.000 |
18.600 |
0.000 |
|
|
Extraordinary items before tax |
0.000 |
0.000 |
(11.200) |
|
|
TOTAL |
109835.900 |
99592.500 |
85927.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
33336.200 |
21072.000 |
13434.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
224.200 |
233.200 |
363.400 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
33112.000 |
20838.800 |
13071.500 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1636.300 |
2200.300 |
1729.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
31475.700 |
18638.500 |
11342.500 |
|
|
|
|
|
|
|
Less |
TAX |
10508.500 |
6530.700 |
4159.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
20967.200 |
12107.800 |
7183.100 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
28.55 |
16.45 |
9.77 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1518.300 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
26066.200 |
20074.800 |
8920.100 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
16822.800 |
12495.900 |
5709.800 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
21.03 |
25.08 |
45.78 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
17.36 |
14.56 |
7.97 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
38.03 |
40.47 |
74.80 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.05 |
2.00 |
0.84 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.25 |
0.88 |
0.57 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.26 |
0.25 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.10 |
0.12 |
0.20 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.26 |
0.26 |
0.78 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.51 |
0.56 |
0.70 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
148.69 |
90.36 |
36.97 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
15.03 |
10.15 |
7.28 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
28.97 |
18.66 |
10.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
40.47 |
28.29 |
21.41 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.16 |
3.47 |
1.65 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.97 |
2.52 |
1.04 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.72 |
0.66 |
0.49 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.69 |
0.68 |
0.91 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.16 |
3.47 |
1.65 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
7356.300 |
7356.300 |
7356.300 |
|
Reserves & Surplus |
26193.500 |
35435.600 |
44450.100 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
33549.800 |
42791.900 |
51806.400 |
|
|
|
|
|
|
Long-term borrowings |
5030.300 |
4975.000 |
3344.600 |
|
Short term borrowings |
1656.100 |
4.400 |
186.400 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
1518.300 |
|
Total
borrowings |
6686.400 |
4979.400 |
5049.300 |
|
Debt/Equity
ratio |
0.199 |
0.116 |
0.097 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
98624.200 |
119254.400 |
139469.200 |
|
|
|
20.918 |
16.951 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
98624.200 |
119254.400 |
139469.200 |
|
Profit/ (Loss) |
7183.100 |
12107.800 |
20967.200 |
|
|
7.28
% |
10.15
% |
15.03
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
7356.300 |
7356.300 |
|
(b) Reserves and Surplus |
|
43710.000 |
35202.900 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
51066.300 |
42559.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3344.600 |
4975.000 |
|
(b) Deferred tax liabilities (Net) |
|
2294.400 |
1106.900 |
|
(c) Other long-term
liabilities |
|
10.700 |
20.000 |
|
(d) long-term
provisions |
|
1254.600 |
4803.700 |
|
Total Non-current
Liabilities (3) |
|
6904.300 |
10905.600 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
186.400 |
4.400 |
|
(b) Trade
payables |
|
7925.300 |
7240.500 |
|
(c) Other
current liabilities |
|
4605.600 |
3138.100 |
|
(d) Short-term
provisions |
|
947.000 |
793.300 |
|
Total Current
Liabilities (4) |
|
13664.300 |
11176.300 |
|
|
|
|
|
|
TOTAL |
|
71634.900 |
64641.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
21189.500 |
20905.900 |
|
(ii)
Intangible Assets |
|
6.000 |
14.800 |
|
(iii) Tangible assets
capital work-in-progress |
|
5456.500 |
2956.500 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1126.500 |
1477.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
396.600 |
325.600 |
|
(e) Other
Non-current assets |
|
227.800 |
217.400 |
|
Total Non-Current
Assets |
|
28402.900 |
25897.700 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
3124.500 |
1463.900 |
|
(b)
Inventories |
|
16285.500 |
10555.600 |
|
(c) Trade
receivables |
|
8035.100 |
8193.100 |
|
(d) Cash and
bank balances |
|
14773.000 |
17369.400 |
|
(e)
Short-term loans and advances |
|
74.500 |
91.400 |
|
(f) Other
current assets |
|
939.400 |
1070.000 |
|
Total
Current Assets |
|
43232.000 |
38743.400 |
|
|
|
|
|
|
TOTAL |
|
71634.900 |
64641.100 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
112470.000 |
100314.400 |
|
|
Other Income |
|
3702.900 |
1410.100 |
|
|
TOTAL |
|
116172.900 |
101724.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
74930.300 |
65302.500 |
|
|
Purchases of
Stock-in-Trade |
|
1128.800 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(2824.600) |
3990.300 |
|
|
Employee benefit expense |
|
2129.900 |
1878.200 |
|
|
CSR expenditure |
|
207.000 |
115.100 |
|
|
Other expenses |
|
7265.300 |
9347.600 |
|
|
Exceptional items before tax |
|
0.000 |
18.600 |
|
|
Extraordinary items before tax |
|
507.400 |
275.500 |
|
|
TOTAL |
|
83344.100 |
80927.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
32828.800 |
20796.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
224.200 |
233.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
32604.600 |
20563.500 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1636.300 |
2200.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
30968.300 |
18363.100 |
|
|
|
|
|
|
|
Less |
TAX |
|
10470.000 |
6540.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
20498.300 |
11822.700 |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
|
(38.500) |
9.600 |
|
|
Total
profit (loss) for period |
|
20459.800 |
11832.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
27.87 |
16.07 |
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 |
No |
|
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: Registered office
of the company has been shifted from 147-Udayan R. G. Baruah Road, Guwahati –
781005, Assam, India to the present address w.e.f. 25.11.2010.
PHYSICAL PERFORMANCE
The Company processed 2683 TMT of crude oil during the FY-2016-17 exceeding the excellent MoU target of 2670 TMT which is also a marked improvement from the preceding year’s throughput of 2520 TMT. The Distillate Yield during the year also improved at 90.52% compared to 90.42% achieved in the previous year. Distillate yield achieved by the Company continues to be the best among PSU refineries in the country. As per new methodology proposed by CHT, distillate yield excluding blend components and considering NG fuel and feed as input works out to 86.50% in 2016-17. On a like-to-like basis, distillate yield as per new CHT formula for 2015-16 was 86.34%. Energy Intensity Index (EII) at 95.2 was the best ever recorded in the operational history of the Company and exceeds the excellent MOU target of 0.5% reduction from previous years EII of 96.6. Likewise, and in terms of Specific Energy Consumption (SEC), the Company made a stellar performance at 72.26 MBN.
Some of operational
highlights of the Company during the year include:
Highest ever MS Production of 540 TMT against previous highest production of 511 TMT in 2015-16.
Four new products were launched during the year that includes Nitrogen, Mineral Turpentine Oil (MTO), Special Boiling Point Spirit (SBPS) and Liquid Sulphur utilizing existing facilities.
Highest ever monthly crude processing of 283 TMT in January, 2017.
Record EII at 95.2 against previous best of 96.6 in 2015-16.
NRL’s total production during the year was 2652 TMT which included 1253 TMT of BS-III grade HSD, 489 BS-IV HSD, 381 TMT of BS-III MS and 159 TMT of BS –IV MS. Production also includes 55 TMT of LPG. 80 TMT of ATF, 103 TMT of SKO, 3 TMT of MTO, 16 TMT of PCN Naphtha, 35 TMT of Paraffin Wax, 10 TMT of RPC, 64 TMT of CPC and 4 TMT of Sulphur. Total product evacuation from the refinery was 2689 TMT which included pipeline transfer of 1781TMT, rail dispatch of 174 TMT and road dispatch of 734 TMT. Amongst the coke products, 14 TMT of RPC and 60 TMT CPC were sold during the year.
SAFETY MANAGEMENT
In keeping with its vision commitment of sustained efforts to attain highest standards in Safety, the Company has registered 596 days of Loss Time Accident (LTA) free operation and 3.3 Million LTA free man-hours as on 31st March’17 at its Refinery. NRL’s sensitivity towards Health Safety and Environment is evident from its active role in maintaining highest HSE standards and compliance of relevant statutory norms.
The Company believes that continuous safety in work place can be brought through attitudinal change of the work force. Therefore, special emphasis were given on activities like publishing safety leaflets on various topics and quarterly safety news-letter, circulation of fortnightly safety bulletin, conducting hands-on training on firefighting, conducting tool box talk, safety training for employees, live demonstration of fall arrestor system at project sites, installation of standardized safety signs, bimonthly safety review meeting with contractor’s supervisors etc.
Around 5732 contract workmen, 275 CISF and Security Staff, 464 POL drivers, 425 NRL employees were trained in fire and safety during 2016-17. Further, a monthly online safety quiz competition is being conducted to promote safety awareness and to enhance knowledge among the employees. During January 2017, Road Safety Week was conducted by the Company with large scale involvement of NRL employee as well as general public. Massive awareness campaigns were carried out during the week towards road safety. Distribution of safety helmet to lady pillion riders, Fluorescent jacket to cycle riders, Road Safety Items for Assam Police (Traffic) were major highlights of Road Safety Week. National safety week was observed in March, 2017 with various safety competitions among employees, contract workers and other stake holders.
Numaligarh Refinery Limited. had won the SURAKSHA PURASKAR-2016 from National Safety Council in Group-A (Manufacturing Coke and Refined Petroleum products) under the manufacturing sector category.
External Safety Audit as per Manufacture, Storage and Import of Hazardous Chemicals(MSIHC) rules and IS-14489 was conducted for the first time at NRL in the month of August 2016 followed by Internal Safety Audit with members from BPCL group refineries. Further, OISD conducted 5th Round of External Safety Audit in NRL from 20th to 24th February 2017.NRL’s Emergency Response and Disaster Management Plan was approved by M/s Bureau Veritas in July 2016 after a thorough revisit of the plan and site audit.
During the year NRL has taken three new initiatives to promote safety at workplace:
BBS (Behavioral Based Safety) named SORAS (Safety Observation Recording and Analysis System).
E-Permit system complying with OISD-105.
Introduction of LOTO (Lock Out Tag Out) system for electrical safety.
NRL has entered into a Mutual Aid Agreement on 18.03.2017 with IOCL- Guwahati Refinery and Oil India Limited-Pipeline Division to provide support to each other in case of any industrial emergency.
OCCUPATIONAL HEALTH
NRL believes that occupational and personal health of employees and workers is vital for excellence in performance of the company. The Company has implemented occupational hygiene measures and medical surveillance programmes to monitor and control the occupational health of its employees and workers as per OISD guidelines. The effectiveness of these programmes is reviewed quarterly at the highest level during Apex Loss Control Review Meeting. The Company observes a planned schedule for heath check-up of the employees and workers and monitors the adherence of the schedule on daily basis. Each functional department has a Key Performance Index on the health checkup the employees under its control.
ENVIRONMENT
Numaligarh Refinery, one of the most environment friendly refineries in the country, being located in eco-sensitive zone, has taken sustained efforts to preserve the environment through Environment Management initiatives in a systematic manner. The refinery has been at the forefront in adopting policy initiatives to comply with all norms and standards encoded in statutes, applicable codes of practices, relevant environmental guidelines, OISD standards etc. apart from its own policies and manuals, making it ecologically compatible modern refinery.
Real time emission data is being transmitted to CPCB server with remote alert facility. Hazardous oily sludge is disposed as per Hazardous Wastes (Management, Handling and Trans-boundary Movement) Rules, 2008. Bioremediation of around 500 MT of tank bottom sludge has been done this year. In order to minimize use of fresh water NRL is implementing a storm water recycling project.
Under “Ujjwala Scheme for green fuel” for rural women, NRL took initiative for converting two villages in the neighbourhood into smoke free village by distributing LPG connection to BPL families.
As recognition towards continual improvement in Environment Management, NRL has received the “RastraBibhuson Award, 2016 in Platinum category in the refinery sector organized by Foundation for Accelerated Mass Empowerment (FAME) India and Greentech Environment Excellence Awards 2016 in Gold Category. NRL has also complied with all the requirements for Environmental Management System 14001:2004 and same has been continued during the year.
MARKETING PERFORMANCE
The year 2016-17 was challenging and rewarding for the marketing function. Overall product sales touched 2678 TMT against production of 2652 TMT. MS sales at 558 TMT, was the highest ever achieved so far. Sale of HSD amounted to 1745 TMT. Wax sales reached the record of 40 TMT that included export to 17 countries. New products like MTO, SBPS were introduced during the year.
Despatch from NRMT comprised 734 TMT by road and 174 TMT by rail. The NumaligarhSiliguri product pipeline achieved the highest ever throughput of 1781 TMT, surpassing the previous highest of 1744 TMT in 2015-16.
Production and sale of packed LPG touched an all-time high of 33 TMT compared to 22 TMT in the previous year.
During fourth quarter of the year, smooth rollover from BS-III to BS-IV grade auto fuel was achieved. This was facilitated through meticulous execution of the plan drawn up in association with the supply chain optimization group.
Category-wise sales in 2016-17 comprised 93.4% (FY15-16= 92.4%) to OMCs, 6.6% (FY15-16= 6.3%) direct and export sale besides 2.7% (FY15-16=1.3%) to private oil companies. Sales within North East increased to 737 TMT against 655 TMT in the previous year.
Sales from the Siliguri terminal amounted to 1770 TMT, representing 66% of total sales. Receipt of products at the terminal through the NumaligarhSiliguri pipeline was 1786 TMT.
During the financial year, one goodwill rake of diesel was despatched to Bangladesh from SMT.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Other loans and advances |
167.600 |
0.000 |
|
Total |
167.600 |
0.000 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B75700989 |
10427387 |
STATE
BANK OF INDIA |
27/04/2013 |
- |
- |
4900000000.0 |
COMMERCIAL
BRANCH, BEEKAY TOWER,2ND FLOOR, GANESHGURIGUWAHATIAS781006IN |
|
2 |
C66536582 |
80012827 |
STATE
BANK OF INDIA |
10/08/2000 |
09/10/2015 |
- |
5500000000.0 |
COMMERCIAL
BRANCHSWAGOTA SQURE, ABCGUWAHATIAS781005IN |
|
3 |
G43077528 |
10547474 |
OIL
INDUSTRY DEVELOPMENT BOARD |
27/12/2013 |
- |
01/05/2017 |
420000000.0 |
OIDB
BHAWAN, "C" BLOCK 3RD FLOORPLOT NO 2 SECTOR - 73 NOIDANOIDAUP201301IN |
|
4 |
A34576561 |
80012820 |
UCO
BANK |
10/09/2005 |
- |
01/03/2008 |
1000000000.0 |
JORHAT
BRANCHT.R.PHUKAN ROADJORHATAS785001IN |
|
5 |
A34493080 |
90266166 |
CANARA
BANK |
27/10/2005 |
- |
27/02/2008 |
900000000.0 |
GUWAHATI
MAIN BRANCHFANCY BAZARGUWAHATIAS781001IN |
|
6 |
A34484204 |
90266152 |
CANARA
BANK |
10/09/2005 |
- |
01/10/2007 |
2000000000.0 |
GUWAHATI
MAIN BRANCHFANCHY BAZARGUWAHATIAS781001IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Bridges roads ports culverts
- Railway sidings
Intangible assets
- Computer software
- Licenses and franchise
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 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 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
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.