|
|
|
MIRA INFORM REPORT
|
Report No. : |
516615 |
|
Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
JSW DHARAMTAR PORT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai – 400051,
Maharashtra |
|
Tel. No.: |
91-22-42861000 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
24.09.2012 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93030MH2012PTC236083 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 150.100 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ9361Q |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in Port Services like Sea and Costal Water Transport. [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 |
|
Maximum Credit Limit : |
USD 2100000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “JSW Infrastructure Limited” and was
incorporated in the year 2012. It was set-up as an ‘all weather’ port (draft of 1.5 M) in Dolvi,
located in Raigad district, Maharashtra to act a captive facility for
catering the iron ore requirements of JSW Steel Limited’s 5 MTPA Dolvi steel
plant adjacent to the port. (From Indirect Sources) For the financial year 2017, the company has achieved massive growth
in its revenue as compared to the previous year along with a decent profit
margin of 42.72%. The sound financial profile of the company is marked by sufficient net
worth base along with average debt balance sheet profile. Payment seems to be
usually correct. In view of aforesaid, the
company can be considered for business dealings at usual 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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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
31-03-2018.
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 26.06.2018
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
MANAGEMENT NON-COOPERATIVE (91-22-42861000)
LOCATIONS
|
Registered Office : |
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai –
400051, Maharashtra, India |
|
Tel. No.: |
91-22-42861000 |
|
Fax No.: |
91-22-42863000 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mrs. Rashmi Ranjan Patra |
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|
Designation : |
Wholetime Director |
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|
Address : |
206, 2nd Floor, Adonis Raheja Acroplois II, Deonar, Mumbai
400088, Maharashtra, India |
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|
Date of Birth/Age : |
07.08.1961 |
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Qualification: |
Civil and Coastal Engineering |
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|
Date of Appointment : |
28.09.2015 |
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DIN No.: |
03014938 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sudip Mishra |
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|
Designation : |
Director |
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|
Address : |
D-10, Muktidham Aparments, Near Thaltej Circle S.G. Road,
Ahmedabad- 380054, Gujarat, India |
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|
Date of Birth/Age : |
07.11.1974 |
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Qualification: |
B.Sc., MBA (Finance) |
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Date of Appointment : |
28.09.2015 |
||||||||||||||||||||||||||||||||||||
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DIN No.: |
03428213 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Lalit Chandanmal Singhvi |
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|
Designation : |
Director |
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|
Address : |
204, D B Woods Tower A, 2nd Floor, Gokul Dham, Opposite Laksh
Chandi Apartments, Goregaon East, Mumbai- 400063, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.08.1963 |
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|
Qualification: |
Chartered Accountants |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.07.2016 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05335938 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Vikram Agarwal |
|
Designation : |
Chief Finance Officer |
|
Address : |
58/F/1, Kali Krishna Tagore Street Near Posta Petrol Pump,
Barabazar, Kolkata -700007, West Bengal, India |
|
Date of Appointment : |
30.03.2017 |
|
PAN No.: |
AIPPA6652F |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
JSW Infrastructure Limited, India |
|
15009900 |
|
Bhartula VJK Sharma |
|
100 |
|
Total |
|
15010000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 31.07.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in Port Services like Sea and Costal Water Transport. [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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||||
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Imports : |
Not Divulged |
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||||
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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 : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Shah Gupta and Company Chartered Accountants |
|
Address : |
38 Bombay Mutual Building, 2nd Floor, Dr D N Road, Fort, Mumbai – 400001, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS7720F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15010000 |
Equity Shares |
INR 10/- each |
INR 150.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
150.100 |
150.100 |
150.100 |
|
(b) Reserves &
Surplus |
582.563 |
49.872 |
34.130 |
|
(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) |
732.663 |
199.972 |
184.230 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
837.548 |
152.550 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
17.132 |
0.130 |
0.000 |
|
(c) Other long term
liabilities |
1511.928 |
8.873 |
0.940 |
|
(d) long-term provisions |
4.128 |
3.196 |
1.350 |
|
Total Non-current
Liabilities (3) |
2370.736 |
164.749 |
2.290 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1159.963 |
441.274 |
215.990 |
|
(b) Trade payables |
445.727 |
20.335 |
17.660 |
|
(c) Other current
liabilities |
217.554 |
143.862 |
40.090 |
|
(d) Short-term provisions |
0.270 |
0.196 |
0.520 |
|
Total Current Liabilities
(4) |
1823.514 |
605.667 |
274.260 |
|
|
|
|
|
|
TOTAL |
4926.913 |
970.388 |
460.780 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2466.724 |
29.623 |
29.860 |
|
(ii) Intangible Assets |
1.183 |
0.071 |
0.020 |
|
(iii) Capital
work-in-progress |
657.463 |
693.577 |
225.620 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.190 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
152.900 |
|
(e) Other Non-current
assets |
1414.697 |
174.058 |
1.030 |
|
Total Non-Current Assets |
4540.167 |
897.429 |
409.720 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
60.026 |
16.032 |
0.000 |
|
(b) Inventories |
0.000 |
0.038 |
0.000 |
|
(c) Trade receivables |
134.927 |
21.347 |
19.990 |
|
(d) Cash and cash
equivalents |
51.480 |
10.679 |
27.050 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
4.020 |
|
(f) Other current assets |
140.313 |
24.863 |
0.000 |
|
Total Current Assets |
386.746 |
72.959 |
51.060 |
|
|
|
|
|
|
TOTAL |
4926.913 |
970.388 |
460.780 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1213.070 |
195.184 |
205.240 |
|
|
Other Income |
38.974 |
0.540 |
4.980 |
|
|
TOTAL |
1252.044 |
195.724 |
210.220 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
81.778 |
60.684 |
54.070 |
|
|
Other expenses |
356.942 |
109.175 |
143.990 |
|
|
TOTAL |
438.720 |
169.859 |
198.060 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
813.324 |
25.865 |
12.160 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
17.098 |
0.107 |
0.020 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
796.226 |
25.758 |
12.140 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.296 |
4.007 |
1.940 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
788.930 |
21.751 |
10.200 |
|
|
|
|
|
|
|
Less |
TAX |
270.659 |
7.720 |
4.530 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
518.271 |
14.031 |
5.670 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
34.53 |
0.93 |
0.58 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1207.111 |
13.767 |
36.200 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
1029.785 |
5.101 |
29.450 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
40.60 |
39.92 |
35.55 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.99 |
9.14 |
10.27 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
680.66 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.26 |
0.04 |
0.05 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.78 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.73 |
2.97 |
1.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.49 |
3.03 |
1.49 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
4.27 |
3.62 |
1.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
47.57 |
241.73 |
608.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
42.72 |
7.19 |
2.76 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.52 |
1.45 |
1.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
70.74 |
7.02 |
3.08 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.21 |
0.12 |
0.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.21 |
0.12 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.15 |
0.21 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
13.31 |
3.96 |
1.44 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.21 |
0.12 |
0.19 |
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 |
150.100 |
150.100 |
150.100 |
|
Reserves & Surplus |
34.130 |
49.872 |
582.563 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
184.230 |
199.972 |
732.663 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
152.550 |
837.548 |
|
Short Term borrowings |
215.990 |
441.274 |
1159.963 |
|
Total
borrowings |
215.990 |
593.824 |
1997.511 |
|
Debt/Equity
ratio |
1.172 |
2.970 |
2.726 |
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
|
205.240 |
195.184 |
1213.070 |
|
|
|
(4.900) |
521.501 |
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
|
205.240 |
195.184 |
1213.070 |
|
Profit |
5.670 |
14.031 |
518.271 |
|
|
2.76% |
7.19% |
42.72% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
150.100 |
150.100 |
|
(b) Reserves and Surplus |
|
48.240 |
34.100 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
198.340 |
184.200 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
160.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.110 |
0.000 |
|
(c) Other long-term
liabilities |
|
1.560 |
0.940 |
|
(d) long-term
provisions |
|
2.420 |
1.350 |
|
Total Non-current
Liabilities (3) |
|
164.090 |
2.290 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
532.900 |
215.990 |
|
(b) Trade
payables |
|
17.040 |
17.660 |
|
(c) Other
current liabilities |
|
64.420 |
40.100 |
|
(d) Short-term
provisions |
|
0.980 |
0.520 |
|
Total Current
Liabilities (4) |
|
615.340 |
274.270 |
|
|
|
|
|
|
TOTAL |
|
977.770 |
460.760 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
29.610 |
29.860 |
|
(ii)
Intangible Assets |
|
0.080 |
0.020 |
|
(iii) Tangible assets
capital work-in-progress |
|
701.030 |
225.620 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.190 |
|
(d)
Long-term loans and advances |
|
178.620 |
152.900 |
|
(e) Other
Non-current assets |
|
1.120 |
1.030 |
|
Total Non-Current
Assets |
|
910.460 |
409.620 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.040 |
0.000 |
|
(c) Trade
receivables |
|
21.350 |
19.990 |
|
(d) Cash and
bank balances |
|
25.620 |
27.150 |
|
(e)
Short-term loans and advances |
|
20.300 |
4.000 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
67.310 |
51.140 |
|
|
|
|
|
|
TOTAL |
|
977.770 |
460.760 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
|
195.180 |
205.240 |
|
|
Other Income |
|
0.510 |
4.980 |
|
|
TOTAL |
|
195.690 |
210.220 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
96.750 |
129.120 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
0.000 |
0.000 |
|
|
Employee benefit expense |
|
60.460 |
54.070 |
|
|
Other expenses |
|
12.440 |
14.900 |
|
|
TOTAL |
|
169.650 |
198.090 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
26.040 |
12.130 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.110 |
0.020 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
25.930 |
12.110 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
4.010 |
1.940 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
21.920 |
10.170 |
|
|
|
|
|
|
|
Less |
TAX |
|
7.790 |
4.980 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
14.130 |
5.190 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
0.94 |
0.35 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
JSW Dharamtar Port is located in the vicinity South East of Mumbai harbour in Dharamtar Creek in the estuary of Amba river extending to about 12 nautical miles upstream of the river. The port is being used to load /unload cargo from barges varying from 2500 to 3700 DWT with fleet size of 37 (Barges and MBCs) involved in lighter age operation at Mumbai Harbour. The major cargo handled are Iron Ore Fines, Iron Ore Lumps, Iron Ore Pellets, Coke, Coal, Coke Breeze, Lime stone, Dolomite, HBI, TMT Bar, HR Coil etc.
During the fiscal, the port handled Cargo of 10.05 MMT as against 5.96 MMT cargo in the previous fiscal. To meet higher cargo requirement of JSW Steel Plant due to their forthcoming expansion from 3.3 MTPA to 5 MTPA, Dharamtar Port is also expanding and appending it’s Jetty by additional 619m and procured three new Barge Unloaders of 2,500 TPH (each) with related Conveyor system. Phase one Conveying system is commissioned in Mar-17 and phase II is in progress. After this expansion, the Port shall be capable to handle 34 Million MT of Bulk Cargo. In order to achieve the economies of scale with bigger business plans JSW Dharamtar Port is also planning to dredge its channel to accommodate the 8,000DWT MBCs. These expansion projects at Dharamtar Port are progressing well.
Maharashtra Maritime Board has issued Port Policy, 2016 in which captive port can handle third party cargo limited to 25% of captive cargo handled in previous fiscal. Accordingly, the port can handle commercial cargo.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from related parties |
87.078 |
0.000 |
|
Total |
87.078 |
0.000 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
G62772736 |
100134528 |
RBL BANK LIMITED |
02/11/2017 |
750000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
|
2 |
G46263679 |
100103894 |
RBL BANK LIMITED |
14/06/2017 |
750000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
|
3 |
G45325461 |
100101814 |
VISTRA ITCL
(INDIA) LIMITED |
05/05/2017 |
3600000000.0 |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA
EASTMUMBAIMA400051IN |
CONTINGENT
LIABILITIES
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
|
|
|
|
Guarantees given by the Company's Bankers |
51.000 |
51.000 |
|
LC opened in favour of supplier |
0.000 |
1147.060 |
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and Fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible
Assets
- Computer software
Press releases
JSW INFRA PLANS INR
88000.000 MILLION INVESTMENT IN NEXT 3 YEARS
MAY 01 2018
JSW Infrastructure’s port in Maharashtra will take the bulk of the funds as its capacity will be raised to 80mtpa from 40mtpa
Mumbai: JSW Infrastructure, the privately held ports arm of Sajjan Jindal’s JSW group, plans to invest INR 88000.000 Million over the next three years to expand cargo handling capacity from the current 75 million tonnes per annum (mtpa) to 200mtpa by 2020.
The expansion plan is in line with the company’s ambition to shift from handling only sister concern JSW Steel’s cargo to accepting third-party cargo as well.
Half of this investment would be funded through loans and the remaining through internal accruals, B.V.J.K. Sharma, joint managing director and chief executive of JSW Infrastructure said in an interview.
The company’s largest port by capacity at Jaigarh in Maharashtra’s Ratnagiri district will take the bulk of this investment as its capacity will be increased from 40mtpa at present to 80mtpa over the next three years. By the end of March 2018, the port had handled 14mtpa of cargo this year. “JSW Steel’s Dolvi plant expansion was deferred by two years but at the port, we had already invested to be ready to handle the additional cargo from the plant. Once Dolvi’s new capacity comes on stream in March 2020, we’ll see higher utilization here,” Sharma said, explaining the reason for the port’s low capacity utilization at 35%.
“We’ve already spent INR 27000.000 Million on building road connectivity, coastal berths, rail connections for the Jaigarh port. The planned capex for the port will be INR 46000.000 Million by 2020,” he added.
Capacity at the Dharamtar port will be increased from 15mtpa to 40mtpa, at Goa from 10mtpa to 15mtpa; the Paradip iron ore berth will be enhanced to handle 18mtpa and the coal berth will hit 32mtpa, while the port facilities in Tamil Nadu will increase to 15mtpa.
Sharma also said the company’s long-term plan is to increase the share of business in third-party cargo. Today, the cargo that JSW Infra handles is almost exclusively for the group’s businesses. “By FY21, we’re looking at a 60:40 mix of group to third party cargo,” he said. “We’re tying up with container players and want to build facilities in LPG, LNG, chemicals and bulk cargo.”
On Tuesday, JSW Infra and H-Energy Gateway Private Limited (the energy arm of the Hiranandani group) launched the country’s first floating storage re-gasification unit-based LNG terminal at Jaigarh. The terminal will offer LNG storage, re-gasification, re-loading, fuel bunkering and truck loading facilities. Once it becomes operational by the end of the year, the re-gasified LNG will be supplied to customers through a 60-km tie-in pipeline which shall be connected to national gas grids at Dabhol.
The terminal, at 4mtpa capacity, will be owned and operated by H-Energy, while JSW Infra is the sub-concessionaire which will provide infrastructure and cargo handling services. “If demand for LNG services from Jaigarh picks up, we can invest in shore-based storage units which will increase capacity to 10mtpa,” Sharma added.
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 68.15 |
|
|
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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.