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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

507994

Report Date :

08.05.2018

 



IDENTIFICATION DETAILS

 

Name :

HEG LIMITED (w.e.f.30.10.1991)

 

 

Formerly Known As :

HINDUSTAN ELECTRO-GRAPHITES LIMITED

 

 

Registered Office :

Mandideep (Near Bhopal), Industrial Area NH-12, Raisen District – 462046, Madhya Pradesh 

Tel. No.:

91-7480-405500/ 233524 to 233527

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

27.10.1972

 

 

Com. Reg. No.:

10-008290

 

 

Capital Investment / Paid-up Capital :

INR 399.595 Million

 

 

CIN No.:

[Company Identification No.]

L23109MP1972PLC008290

 

 

IEC No.:

[Import-Export Code No.]

1188000110

 

 

TIN No:

23214100234

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

 

GSTN :

[Goods & Service Tax Registration No.]

23AAACH6184K1ZH

 

 

PAN No.:

[Permanent Account No.]

AAACH6184K

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Exporter of graphite electrodes and also Generation of power for captive consumption and sale. (Registered activity and also confirmed by management)

 

 

No. of Employees :

1000 (Approximately)

 

 

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

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists

 

 

Comments :

Subject was incorporated in the year 1972.


It is manufacturer and exporter of graphite electrodes.


For the financial year 2017, the company has reported decline in its revenue as compared to previous year and has incurred operational loss.


The healthy financial profile of the company is marked by strong networth base along with negligible debt level.


The rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters.


The company has its share price trading at around INR 2862 against the Face Value (FV) of INR 10 on BSE as on 7th May, 2018.


As per the unaudited quarterly financials of December 2017, the company has achieved revenue of INR 8427.100 million and has reported profit margin of 40.59%.


However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables.


Business is active. Payment seems to be regular.


In view of aforesaid, the subject can be considered for good 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

(30.09.2017)

Current Rating

(31.12.2017)

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 08.05.2018

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Aashish

Designation :

Marketing Manager

Contact No.:

91-9868371139

 

 

LOCATIONS

 

Registered Office / Factory 1 :

Mandideep (Near Bhopal), Industrial Area NH-12, Raisen District – 462046, Madhya Pradesh, India  

Tel. No.:

91-7480-405500/ 233524 to 233527

Mobile No:

91-9868371139 (Mr. Aashish)

Fax No.:

91-7480-233522

E-Mail :

heg.investor@lnjbhilwara.com

Website :

http://www.hegltd.com

 

 

Corporate Office :

Bhilwara Towers, A-12, Sector -1,  Noida – 201301, Uttar Pradesh, India 

Tel. No.:

91-120-4390300

Fax No.:

91-120-4277841

E-Mail :

heg.investor@lnjbhilwara.com

 

 

Factory 2 :

Hydro Electric Power: Village Ranipur, Tawa Nagar,  Hoshangabad District – 461001, Madhya Pradesh, India

Tel. No.:

91-7572-272810/ 272859

Fax No.:

91-7572-272849

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. L. N. Jhunjhunwala

Designation :

Chairman

 

 

Name :

Mr. Ravi Jhunjhunwala

Designation :

Managing Director

Address :

63, Friends Colony (East), New Delhi-110065, India

Date of Birth/Age :

28.10.1955

Qualification :

B.Com. (Hons.), MBA

Experience :

36 Years

Date of Appointment :

08.09.1979

DIN No.:

00060972

 

 

Name :

Mr. Dharmendar Nath Davar

Designation :

Director

Address :

B5/82, Safdarjung Enclave, New Delhi-110029, India

Date of Appointment :

10.11.1994

DIN No.:

00002008

 

 

Name :

Mr. Kamal Gupta

Designation :

Director

Address :

N-23, Sector 11, Gautam Budh Nagar, Noida-201301, Uttar Pradesh, India

Date of Appointment :

10.11.1994

DIN No.:

00038490

 

 

Name :

Ms. Vinita Singhania

Designation :

Director

Address :

101, Friends Colony (East), New Delhi-110065, India

Date of Appointment :

12.11.2013

DIN No.:

00042983

 

 

Name :

Mr. Riju Jhunjhunwala

Designation :

Director

Address :

63, Friends Colony (East), New Delhi-110025, India

Date of Birth/Age :

13.01.1979

Qualification :

Degree in Business Management studies

Experience :

12.5 Years

Date of Appointment :

30.04.2009

DIN No.:

00061060

 

Name :

Mr. Shekhar Agarwal

Designation :

Director

Address :

7, Sadhana Enclave, New Delhi-110017, India

Date of Appointment :

15.07.1996

DIN No.:

00066113

 

Name :

Mr. Satish Chand Mehta

Designation :

Director

Address :

K-7, Malviya Marg, C-Scheme, Jaipur-302001, Rajasthan, India

Date of Birth/Age :

02.09.1955

Qualification :

B. Com, Chartered Accountant, IFS (Retired)

Experience :

35 Years

Date of Appointment :

23.06.2016

DIN No.:

02460558

 

Name :

Mr. Om Parkash Bahl

Designation :

Director

Address :

D-210, Sector-55, Noida-201301, Uttar Pradesh, India

Date of Appointment :

30.04.2009

DIN No.:

02643557

 

Name :

Mr. Satyendra Nath Bhattacharya

Designation :

Director

Address :

Flat No. 13, Oval View, Maharshi Karve Road Churchgate, Opposite Oval Maidan, Mumbai-400020, Maharashtra, India

Date of Appointment :

22.09.2015

DIN No.:

06758088

 

 

KEY EXECUTIVES

 

Name :

Mr. Raju Rustogi

Designation :

Chief Financial Officer and Chief Operating Officer

Address :

M-139, First Floor Blossom-II, Sector-51, Gurugram-122009, Haryana, India

Date of Appointment :

30.07.2014

PAN No.:

ABLPR7778N

 

 

Name :

Mr. Vivek Chaudhary

Designation :

Company Secretary

Address :

Flat No-316/2, Express Garden, 6-Vaibhav Khand,Indirapuram, Ghaziabad-201014,  Uttar Pradesh, India

Date of Appointment :

30.05.2017

PAN No.:

AEMPC9546D

 

 

Name :

Mr. Sudhir Sood

Designation :

Chief Human Resource Officer

 

 

Name :

Mr. Manish Gulati

Designation :

Chief Marketing Officer

 

 

Name :

Mr. Ashish

Designation :

Marketing Manager

 

 

SHAREHOLDING PATTERN

 

AS ON March, 2018

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of

(A) Promoter & Promoter Group

24389979

61.04

(B) Public

15569163

38.96

Grand Total

39959142

100.00

 

 

Statement showing shareholding pattern of the promoter and promoter group

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of

A1) Indian

Individuals/Hindu undivided Family

1299188

3.25

LAKSHMI NIWAS JHUNJHUNWALA

179740

0.45

RAVI JHUNJHUNWALA-HUF

214710

0.54

MANI DEVI JHUNJHUNWALA

103350

0.26

RISHABH JHUNJHUNWALA

186126

0.47

RITA JHUNJHUNWALA

224312

0.56

RIJU JHUNJHUNWALA

233290

0.58

RAVI JHUNJHUNWALA

136060

0.34

NIVEDAN CHURIWAL

11250

0.03

SHUBHA CHURIWAL

7850

0.02

SUDHA CHURIWAL

2500

0.01

Any Other (specify)

11272684

28.21

BHARAT INVESTMENTS GROWTH LIMITED.

2609598

6.53

DEEPAK PENS & PLASTICS PVT. LIMITED.

497397

1.24

INDIA TEXFAB MARKETING LIMITED.

218851

0.55

INVESTORS INDIA LIMITED.

38382

0.10

GILTEDGED INDUSTRIAL SECURITIES LIMITED.

504668

1.26

LNJ FINANCIAL SERVICES LIMITED.

1427465

3.57

NIVEDAN VANIJYA NIYOJAN LIMITED.

70597

0.18

M.L. FINLEASE PVT. LIMITED

366797

0.92

SANDHU AUTO DEPOSITS LIMITED.

567226

1.42

SHASHI COMMERCIAL CO. LIMITED.

715187

1.79

PURVI VANIJYA NIYOJAN LIMITED.

1745350

4.37

RAGHAV COMMERCIAL LIMITED.

1533166

3.84

RSWM LIMITED.

978000

2.45

Sub Total A1

12571872

31.46

A2) Foreign

0.00

Any Other (specify)

11818107

29.58

NORBURY INVESTMENTS LIMITED

5362991

13.42

MEKIMA CORPORATION

1789537

4.48

MICROLIGHT INVESTMENTS LIMITED.

4665579

11.68

Sub Total A2

11818107

29.58

A=A1+A2

24389979

61.04

 

Statement showing shareholding pattern of the public shareholder

 

Category & Name of the Shareholders

No. of fully paid up equity shares held

Shareholding % calculated as per SCRR, 1957 As a %

B1) Institutions

 

 

Mutual Funds/

880907

2.20

Foreign Portfolio Investors

1586406

3.97

Financial Institutions/ Banks

2710

0.01

Insurance Companies

3822082

9.56

LIFE INSURANCE CORPORATION OF INDIA

3333963

8.34

THE NEW INDIA ASSURANCE COMPANY LIMITED

486969

1.22

Sub Total B1

6292105

15.75

B2) Central Government/ State Government(s)/ President of India

0

0.00

B3) Non-Institutions

0

0.00

Individual share capital upto INR 0.200 million

4824086

12.07

Individual share capital in excess of INR 0.200 million

531372

1.33

NBFCs registered with RBI

13385

0.03

Any Other (specify)

3908215

9.78

Bodies Corporate

3601098

9.01

PACIFIC MANAGEMENT PRIVATE LIMITED

573034

1.43

Non-Resident Indian (NRI)

136665

0.34

Trusts

490

0.00

IEPF

169962

0.43

Sub Total B3

9277058

23.22

B=B1+B2+B3

15569163

38.96

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of graphite electrodes and also Generation of power for captive consumption and sale. (Registered activity and also confirmed by management)

 

 

Products / Services :

Name and Description of main products / services

NIC Code

Graphite Electrode

329

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Advance Payment and L/C

 

Purchasing :

Advance Payment and L/C

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

Customers :

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Experience :

--

Maximum Limit Dealt :

--

Remark :

--

 

 

No. of Employees :

1000 (Approximately)

 

 

Bankers :

Banker Name :

State Bank of India

Branch :

Commercial Branch, LHO Complex, Hoshangabad Road, Bhopal – 462011, Madhya Pradesh, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • Punjab National Bank
  • HDFC Bank Limited
  • IDBI Bank Limited
  • Kotak Mahindra Bank Limited
  • DBS Bank Limited
  • Axis Bank Limited Limited
  • YES Bank
  • ICICI Bank Limited
  • Aditya Birla Finance Limited

 

 

Facilities :

SECURED LOANS

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

Rupee Loans from Banks

460.000

577.500

Foreign currency Loans from Banks

0.000

988.033

Rupee Loans from others

896.406

0.000

SHORT TERM BORROWINGS

 

 

Rupee Loans from Banks

4118.359

4891.496

Short term borrowings from banks

0.000

308.488

Total

5474.765

6765.517

 

Auditor 1 :

 

Name :

Doogar and Associates

Chartered Accountants

 

Auditor 2 :

 

Name :

S. S. Kothari Mehta and Company

Chartered Accountants

 

 

Auditor 3 :

 

Name :

S. C. Vasudeva and Company

Chartered Accountant

Address:

B-41, Panchsheel Enclave, New Delhi – 110017, India

Tel No:

91-11-26499111/26499222/26499444/26499555

Fax No:

91-11-41749444

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary:
  • HEG Graphite Products and Services Limited

 

 

Associates and joint ventures:
  • Bhilwara Energy Limited
  • Bhilwara Infotechnology Limited

 

 

Trust Under Common Control:
  • Hindustan Electro Graphites Staff Gratuity Fund Trust
  • Hindustan Electro Graphies Officers Contributary P.F. Trust
  • Hindustan Electro Graphites Ltd Senior Executive Superannuation Fund Trust

 

 

Enterprises over which any person described in

is able to exercise significant influence:
  • RSWM Limited RSWM Limited
  • Malana Power Company Limited
  • Aadi Marketing Company Private Limited
  • AKJ Apparels Private Limited
  • Bhilwara Energy Limited
  • Bhilwara Services Private Limited
  • Captain Trade & Agencies Private Limited
  • Essay Marketing Company Limited
  • Giltedged Industrial Securities Limited
  • RANDR Trustee Private Limited
  • Raghav Knits & Textile Private Limited
  • Redrose Vanijya Private Limited
  • RLJ Family Trusteeship Private Limited
  • RRJ Family Trustee Private Limited
  • Shrasti Marketing Private Limited
  • SKLNJ Family Trustee Private Limited
  • Zongoo Commercial Company Private Limited
  • Giltedged Industrial Securities Limited
  • Raghav Commercial Limited
  • Purvi Vanijya Niyojan Limited
  • Shashi Commercial Co Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

55000000

Equity Shares

INR 10/- each

INR 550.000 Million

1500000

Preference Shares

INR 100/- each

INR 150.000 Million

 

Total

 

INR 700.000 Million

 

Issued Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

39959142

Equity Shares

INR 10/- each

INR 399.591 Million

1150

Forfeited Equity Shares

 

INR 0.004 Million

 

Total

 

INR 399.595 Million

 

Reconciliation of the Shares outstanding at the beginning and at the end of the reporting period

 

Equity Shares

Number of Shares

Amount

At the beginning of the year

39959142

399.591

Changes during the year

--

--

Outstanding at the end of the year

39959142

399.591

 

Terms/Rights attached to equity shares

 

Company has only one class of equity shares having a par value of INR 10/-. Each holder of equity shares is entitled to one vote per share. The dividend (if any) proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

Details of equity shares held by shareholders holding more than 5% shares:

 

Name of Shareholder

Number of Shares

% holding

Norbury Investments Limited

5362991

13.42

Microlight Investments Limited

4665579

11.68

Life Insurance Corporation of India

3333963

8.34

GPC Mauritius II LLC

2893888

7.24

Bharat Investments Growth Limited

2609598

6.53

 

 

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

399.595

399.595

399.595

(b) Reserves & Surplus

8318.350

8810.364

9007.652

(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)

8717.945

9209.959

9407.247

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1356.406

1565.533

2523.717

(b) Deferred tax liabilities (Net)

608.912

512.030

973.427

(c) Other long term liabilities

12.085

12.488

10.511

(d) long-term provisions

34.295

30.659

30.026

Total Non-current Liabilities (3)

2011.698

2120.710

3537.681

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4118.359

5199.984

5759.174

(b) Trade payables

864.856

517.170

1289.256

(c) Other current liabilities

1997.522

1717.971

1574.220

(d) Short-term provisions

7.048

17.671

161.774

Total Current Liabilities (4)

6987.785

7452.796

8784.424

 

 

 

 

TOTAL

17717.428

18783.465

21729.352

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

8850.263

9323.849

9063.999

(ii) Intangible Assets

0.181

0.464

1.384

(iii) Capital work-in-progress

12.040

266.961

1077.486

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1531.396

1521.005

1493.089

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

23.148

45.020

819.401

(e) Other Non-current assets

296.134

274.551

18.008

Total Non-Current Assets

10713.162

11431.850

12473.367

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

5.534

4.712

2.500

(b) Inventories

2577.976

3711.927

4019.048

(c) Trade receivables

3607.879

3184.849

4054.640

(d) Cash and cash equivalents

82.496

51.177

40.643

(e) Short-term loans and advances

39.656

19.345

933.651

(f) Other current assets

690.725

379.605

205.503

Total Current Assets

7004.266

7351.615

9255.985

 

 

 

 

TOTAL

17717.428

18783.465

21729.352

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

8600.427

8695.023

12330.697

 

Other Income

71.281

41.058

151.606

 

TOTAL

8671.708

8736.081

12482.303

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

3298.488

3322.403

5931.58

 

Purchases of Stock-in-Trade

129.260

0.000

0.000

 

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

1011.453

634.824

242.508

 

Employees benefits expense

588.616

625.810

610.716

 

Other expenses

2766.064

2747.330

3729.495

 

TOTAL

7793.881

7330.367

10514.299

 

 

 

 

 

 

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

877.827

1405.714

1968.004

 

 

 

 

 

Less

FINANCIAL EXPENSES

547.176

603.130

771.265

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

330.651

802.584

1196.739

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

739.173

793.002

753.572

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(408.522)

9.582

443.167

 

 

 

 

 

Less

TAX

92.433

85.078

53.151

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(500.955)

(75.496)

390.016

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(12.54)

(1.92)

9.76

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

1363.100

1050.751

888.689

Cash generated from operations

1726.628

2576.841

2817.982

Net cash flow from (used in) operations

1629.464

2492.930

2764.832

 

 

QUARTERLY RESULTS

 

Particulars

 

30.06.2017

(Unaudited)

30.09.2017

(Unaudited)

31.12.2017

(Unaudited)

 

1st Quarter

2st Quarter

3st Quarter

Net sales

2137.100

4095.400

8427.100

Total Expenditure

1903.200

2198.100

2852.000

PBIDT (Excluding Other Income)

233.900

1897.300

5575.100

Other income

7.200

25.500

53.000

Operating Profit

241.100

1922.800

5628.100

Interest

131.600

129.400

126.800

Exceptional Items

NA

NA

NA

PBDT

109.500

1793.400

5501.300

Depreciation

177.800

182.000

188.900

Profit Before Tax

(68.300)

1611.400

5312.400

Tax

16.000

474.800

1891.300

Provisions and contingencies

NA

NA

NA

Profit after tax

(84.300)

1136.600

3421.100

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

(84.300)

1136.600

3421.100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

153.12

133.69

120.02

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.38

2.73

3.04

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

92.09

56.82

79.33

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.34

0.38

0.49

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.10

0.15

0.19

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.55

0.54

0.56

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.78

0.85

0.97

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.80

0.81

0.93

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.02

1.04

1.08

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.60

2.33

2.55

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

(5.82)

(0.87)

3.16

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

(2.83)

(0.40)

1.79

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

(5.75)

(0.82)

4.15

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.00

0.99

1.05

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.63

0.49

0.60

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.49

0.49

0.43

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

17.11

19.56

22.95

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.00

0.99

1.05

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 10/-

Market Value

INR 2862.00/-

 

 

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

399.595

399.595

399.595

Reserves & Surplus

9007.652

8810.364

8318.350

Net worth

9407.247

9209.959

8717.945

 

 

 

 

long-term borrowings

2523.717

1565.533

1356.406

Short term borrowings

5759.174

5199.984

4118.359

Current Maturities of Long term debt

888.689

1050.751

1363.100

Total borrowings

9171.580

7816.268

6837.865

Debt/Equity ratio

0.975

0.849

0.784

 

 

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

12330.697

8695.023

8600.427

 

 

(29.485)

(1.088)

 

 

 

 

 

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

12330.697

8695.023

8600.427

Profit/(Loss)

390.016

(75.496)

(500.955)

 

3.16%

(0.87%)

(5.82%)

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

399.595

399.595

(b) Reserves & Surplus

 

9126.036

9558.978

(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)

 

9525.631

9958.573

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

1356.406

1565.533

(b) Deferred tax liabilities (Net)

 

608.912

512.030

(c) Other long term liabilities

 

12.085

12.488

(d) long-term provisions

 

34.295

30.659

Total Non-current Liabilities (3)

 

2011.698

2120.710

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

4118.359

5199.984

(b) Trade payables

 

864.867

517.182

(c) Other current liabilities

 

1997.524

1717.972

(d) Short-term provisions

 

7.047

17.670

Total Current Liabilities (4)

 

6987.797

7452.808

 

 

 

 

TOTAL

 

18525.126

19532.091

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

8850.263

9323.849

(ii) Intangible Assets

 

0.181

0.464

(iii) Capital work-in-progress

 

12.040

266.961

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

2338.827

2269.332

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

23.148

45.020

(e) Other Non-current assets

 

296.134

274.551

Total Non-Current Assets

 

11520.593

12180.177

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

5.534

4.712

(b) Inventories

 

2577.976

3711.927

(c) Trade receivables

 

3607.879

3184.849

(d) Cash and cash equivalents

 

82.763

51.476

(e) Short-term loans and advances

 

39.656

19.345

(f) Other current assets

 

690.725

379.605

Total Current Assets

 

7004.533

7351.914

 

 

 

 

TOTAL

 

18525.126

19532.091

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

8600.427

8695.023

 

Other Income

 

71.281

41.058

 

TOTAL

 

8671.708

8736.081

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

3298.488

3322.403

 

Purchases of Stock-in-Trade

 

129.260

0.000

 

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

 

1011.453

634.824

 

Employees benefits expense

 

588.616

625.810

 

Other expenses

 

2766.064

2747.330

 

TOTAL

 

7793.881

7330.367

 

 

 

 

 

 

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

 

877.827

1405.714

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

547.176

603.130

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

330.651

802.584

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

739.173

793.002

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

(408.522)

9.582

 

 

 

 

 

 

SHARE OF PROFIT/(LOSS) OF ASSOCIATES

 

59.072

119.628

 

 

 

 

 

Less

TAX

 

92.433

85.078

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

(441.883)

44.132

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

(11.06)

1.10

 

 

LEGAL CASES

 

Civil Court, Dindoshi

Case Details

Case Type: Civil Suit
Filing Number: 206739/2016Filing Date: 30-08-2016
Registration Number: 202532/2016Registration Date: 20-09-2016
CNR Number: MHCC04-006793-2016



Case Status

 

First Hearing Date: 15th October 2016
Next Hearing Date: 15th March 2017
Stage of Case: FOR DIRECTIONS
Court Number and Judge: 5-Ad-hoc Judge, City Civil Court and Asst. Sessions Judge

Petitioner and Advocate

1) M/s.BLR Logistic
    Address - B-115/117, Virwwani Industrial Estate, Western Express Highway, Goreagon East, Mumbai 63.
    Advocate- Pabari Legal


Respondent and Advocate

1) Jalan Carbons and Chemicals Ltd.
    Address - 16G, Everest House, 46C, Chowringhee Road, Kolkata- 700071.

2) HEG Ltd.
    Mandideep, Near Bhopal, Madhya Pradesh - 462046.
        

Acts

Under Act(s)

Under Section(s)

Civil Procedure Code

9

 

 

History of Case Hearing

 

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

202532/2016

Ad-hoc Judge, City Civil Court and Asst. Sessions Judge

15-10-2016

15-03-2017

FOR DIRECTIONS

 

CASE STATUS

Case Details

 

Case Type

Title Suit

 

Filing No.

700010/2007     Filing date: 11-01-2007

 

Registration No.

10/2007     Registration date: 11-01-2007

 

Case code

204807000102007

 

 

CASE STATUS

 

First Hearing Date

15-11-2010

 

Next Hearing Date

09-12-2014

 

Purpose of Hearing

Service Report and WS

 

Court No & Judge

7 - Civil Judge No.1 Kamrup

 

 

Petitioner(s) & Advocate(s)

 

Petitioner - M/s SKJ Coke Industries Ltd.
Address - Pachim Boragaon, NH- 37, Jalukbari, Ghy-35
Advocate -

 

Respondent(s) & Advocate(s)

 

Respondent - Ajit Sharma (Propreitor)
Address - M/s Fuel Centre, Jhandapur, PS- Thanabihpur, PO- Thanabihpur, Bhagalpur, Bihar
Advocate - 

Extra parties

2) Respondent - Chandrama Singh
Address - M/s U.P./ Bihar Roadways, Diwansnaka, PS- Vijaynagar, Indore, Madhya Pradesh.
Advocate - 
3) Respondent - M/s HEG Ltd.
Address - PO- Mandideep- 46, Dist- Raison, Near Bhopal, Madhya Pradesh
Advocate - 
4) Respondent - M/s Gauhati Bhopal Transport Co. Pvt. Ltd.
Address - Boragaon, Guwahati
Advocate -

 

 

ACTS

 

Under Act(s)

---

Under Section(s)

---

Subject

LOWER COURT INFORMATION

Court No & Name

---

Case No & Year

---

Case Decision Date

--



History Of Case Hearing

Regn. No.

Judge

Bussiness on Date

Hearing Date

Purpose of Hearing

10/2007

Civil Judge No.1 Kamrup

15-11-2010

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

15-11-2010

04-01-2011

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

04-01-2011

16-03-2011

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

16-03-2011

16-05-2011

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

16-05-2011

08-07-2011

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

08-07-2011

03-09-2011

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

03-09-2011

16-11-2011

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

16-11-2011

16-01-2012

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

16-01-2012

16-03-2012

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

16-03-2012

04-05-2012

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

04-05-2012

10-07-2012

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

10-07-2012

06-09-2012

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

06-09-2012

12-10-2012

Service Report

10/2007

Civil Judge No.1 Kamrup

12-10-2012

10-12-2012

Service Report

10/2007

Civil Judge No.1 Kamrup

10-12-2012

07-02-2013

Service Report

10/2007

Civil Judge No.1 Kamrup

07-02-2013

06-04-2013

Service Report

10/2007

Civil Judge No.1 Kamrup

06-04-2013

24-05-2013

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

24-05-2013

05-07-2013

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

05-07-2013

04-09-2013

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

04-09-2013

08-10-2013

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

08-10-2013

18-08-2014

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

18-08-2014

15-09-2014

Service Report and WS

10/2007

Civil Judge No.1 Kamrup

15-09-2014

09-12-2014

Service Report and WS

 

Writ Information

Regn. No.

Appellate Case No.

Appellate Authority

Date of Receipt

 

Case Transfer Details Between The Courts

Regn. No.

Transfer Date

From Court No 
& Judge

To Court No 
& Judge

 

 

District and Sessions Court, Raisen

Case Details

Case Type: EX AB - EXECUTION ARBITRATION
Filing Number: 100975/2016Filing Date: 11-08-2016
Registration Number: 1900108/2016Registration Date: 12-08-2016
CNR Number: MP3801-002573-2016



Case Status

First Hearing Date: 07th September 2016
Next Hearing Date: 24th April 2017
Stage of Case: Appearance of Respondent/Non-Applicant
Court Number and Judge: 22-V Additional District And Session Judge

Petitioner and Advocate

1) M/S Badshah Construction Center
    Address - F 2 Goyal Complex Bal Vihar Nehru Road Bhopal

Respondent and Advocate

 

1) HEG Ltd Ltd Com c/o Cheif Managingh Director
    Address - bhilwara Towers A 12 Sector 1 Noida

2) Chief managing Director
    Bhilwara Tower A 12 Sector 1 Noida UP   
3) The General manager
    Mandideep raisen     

Acts

Under Act(s)

Under Section(s)

Arbitration and Conciliation Act 1996

34

 

History of Case Hearing

 

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

1900108/2016

District and Session Judge

07-09-2016

21-11-2016

Appearance of Respondent/Non-Applicant

1900108/2016

District and Session Judge

21-11-2016

02-12-2016

Appearance of Respondent/Non-Applicant

1900108/2016

District and Session Judge

02-12-2016

03-01-2017

Appearance of Respondent/Non-Applicant

1900108/2016

District and Session Judge

03-01-2017

10-02-2017

Appearance of Respondent/Non-Applicant

1900108/2016

District and Session Judge

10-02-2017

08-03-2017

Appearance of Respondent/Non-Applicant

1900108/2016

District and Session Judge

08-03-2017

05-04-2017

Appearance of Respondent/Non-Applicant

1900108/2016

V Additional District And Session Judge

05-04-2017

24-04-2017

Appearance of Respondent/Non-Applicant

Case Transfer Details Between The Courts

Regn. Number

Transfer Date

From Court Number
and Judge

To Court Number 
and Judge

1900108/2016

05-04-2017

1 - District and Session Judge

22 - V Additional District And Session Judge

 

 

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

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE:

As claimed by Mr. Aashish (Marketing Manager) that the factory adddres of the company Steel Billets and Waste Heat Recovery System Industrial Growth Centre Borai, District Durg – 491009, Madhya Pradesh, India, has been closed down.

 

CORPORATE INFORMATION

 

The company incorporated in 1972, is a leading manufacturer and exporter of graphite electrodes in India and operates world’s largest single-site integrated graphite electrodes plant. The Company also operates three potheyr generation facilities with a total rated capacity of about 76.5 MW. The Company is a public limited company incorporated and domiciled in India, having its registered office at Mandideep (Near Bhopal), Distt. Raisen, Madhya Pradesh.

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

Economic overview

Global economy

 

Performance: Global GDP growth slotheyd marginally to 3.1% year-on-year, as deceleration in key emerging and developing economies overshadotheyd a modest recovery in major developed countries. This deceleration was accompanied by modest increase in commodity prices, subdued global trade, bouts of financial market volatility, and theyakening capital flows. Global industrial production (IP) growth slotheyd to 1.5% year-on-year in 2016, after growing by 1.8% in 2015.IP in OECD (Organisation for Economic Co-operation and Development) countries eased to 0.3% year-on-year in 2016, after growing by 0.8% in 2015. This could have been worse had it not been for a healthy uptick in global economy during the second half of 2016 especially in advanced economies. Growth picked up in the United States as firms grew more confident about future demand, and inventories started contributing positively to growth (after five quarters of drag). Growth also remained robust in the UK, where spending proved resilient in the aftermath of the June 2016 referendum in favor of leaving the European Union (Brexit). Activity surprised on the upside in Japan thanks to strong net exports, as theyll as in euro area countries, such as Germany and Spain, as a result of strong domestic demand.

 

Indian economy

 

Favourable government reforms and a stringent fiscal regime in the recent past have supported the accelerated growth of the Indian economy since 2014. The Economic Survey 2017 describes India’s stand in the world as haven of stability and positions it as ‘an outpost of opportunity’. Against this backdrop, the Indian economy registered a subdued performance in 2016-17 with the nation’s GDP growth being pegged at 7.1% against 7.9% in 2015-16 – a drop consequent to geo-political issues in large global economies (important business partners of India) and shortterm disruptive policy initiatives namely demonetisation. Despite this subdued growth, the International Monetary Fund (IMF) has restored India to the status of the world’s fastest-growing major economy in 2016-17. The industrial sector growth remained lack luster with the Index of Industrial Production (IIP), a measure of industrial performance, registering a growth of 5% during 2016-17, against about 8% recorded during 2015-16. The demonetisation initiative affected notes with a total value of about ₹15 trillion, which amounted to 86% of all cash in circulation. Since payment transactions in India are primarily cash-based and electronic payments infrastructure is limited, the shortage of cash had disrupted economic activity and the impact was particularly severe for smaller businesses and rural regions. On the brighter side, the steep decline in global oil prices that began in late 2014 boosted the economic activity in India, further improved the external current account and fiscal positions and helped lower inflation. In addition,

 

Outlook:

 

Economy experts and opinion makers are optimistic of India’s economic resurgence and expect the nation’s GDP growth to rebound in the range of 6.75-7.5% in 2017-18, catalysed by two important triggers – the GST roll out and the infrastructure spend announced in the Union Budget 2017-18. The adoption of the Goods and Service Tax (GST) promises to create a single national market which will enhance efficiency of the movement of goods and services. This critical fiscal policy could make an important contribution

 

Steel industry: a global perspective

 

Overview: Despite a lower output of the grey metal in large producing nations, global steel production returned to growth in 2016. According to the World Steel Association, the amount of crude steel produced worldwide increased by 0.8% to 1628.5 million tonnes last year. This was underpinned by a 1.2% rise in output by China, the world’s largest producer, reversing the country’s first production decline in three decades in 2015. The crude steel capacity utilisation ratio of the 66 countries in 2016 was 69.3% compared to 69.7% in 2015. Steel prices

rose throughout most of last year in many regions after touching decade-long lows in 2015. Outlook: Global steel demand is projected to expand moderately by 1.3% or 20-MnT to 1535-MnT during 2017 with advanced economies growing by 0.7% while emerging markets growing by 1.6%. China has ambitious capacity restructuring plans to cut 50- MnT capacity in 2017 after administering a cut of 85 Mn Tin 2016, while the target for 2017-2020 stands revised to 140-MnT. Raw materials as well as steel prices are likely to remain less volatile, unlike in the previous year 2016. Trade actions shall continue to remain active to arrest the unfair and volatile export-push. Downside risks to this outlook come from the high corporate debt and real estate market situation in China, Brexit uncertainties and possible further escalation of instability in some regions.

 

EAF Steel: a global perspective

 

The output of crude steel produced from scrap in electric arc furnaces (EAF) continues to decrease. While roughly 32% of total worldwide crude steel came from EAF mills in 2006, ten years later the total barely reached 25%. The share of EAF steel production has now fallen three years in succession. According to new figures released by the World Steel Association (Worldsteel), most notably China, the world's leading steel producer, has moved almost exclusively to the basic oxygen furnace process (BOF) relying on primary raw materials.

 

An Indian perspective

 

Overview: India is the world’s third-largest producer of crude steel, up from eighth in 2003 - the growth being driven by domestic availability of raw materials such as iron ore and cost-effective labour. Consequently, the steel sector has been a major contributor to India’s manufacturing output - the steel sector contributes 2% to the GDP of the nation and provides more than 6 lakh jobs in the country.

 

 

Outlook

 

The outlook for the steel industry appears promising especially due to the Government’s thrust to infrastructure

creation and housing. Union Budget impetus: The Union Budget’s focus on housing, rural economy, infrastructure spending and railway and defence capex is expected to boost economic growth and revive domestic steel demand. A lion's share of INR 0.395 Million has been allocated for infrastructure sector and is being termed as top priority by the government. This investment is expected to spur steel demand. The Government's plan to put in place a specific programme for development of multi-modal logistics would help the industry. In addition, the Government’s target of laying 3,500 km of railway tracks should provide impetus to steel demand. Rural demand for steel: Rural India is expected to reach per capita consumption of 12.11 kg to 14 kg for finished steel by 2020, driven by development-focused Government policies namely Food for Work Programme (FWP), Indira Awaas

 

Yojana, Pradhan Mantri Gram Sadak Yojana and Affordable Housing drive. The Government announced a total allocation for rural, agricultural and allied sectors for 2017-18 at INR 0.187 Million - 24% higher than the allocation in the previous year. The focus would be on spending more on rural areas, infrastructure and poverty alleviation with fiscal prudence. A case in point is the increased allocation under the Pradhan Mantri Aawas Yojana-Gramin to ₹23,000 Crore from ₹15,000 Crore in the previous year with the hope to complete 10 million pucca houses for the homeless and those living in kachha houses by 2019. Estimates for 2017-18 Indian steel demand is poised for a moderately improved performance exhibiting a growth of 4-5% during FY’18.

 

The performance of Indian steel industry could be influenced by

Possible rise in inflation with firming up of oil prices

Outflow of capital with rising US fed-rates

Credit shortage due to elevated bad loans (NPA’s)

 

 

INDEX OF CHARGE:

 

S

No

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G37808482

90205303

State Bank of India

17/01/1998

17/02/2017

-

9350000000.0

Commercial Branch, LHO ComplexHoshangabad RoadBhopalMP462011IN

2

G85838423

100022070

ICICI BANK LIMITED

22/04/2016

17/02/2017

24/04/2018

700000000.0

ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN

3

G82837824

100091659

ADITYA BIRLA FINANCE LIMITED

28/03/2017

-

29/03/2018

900000000.0

Indian Rayon Compound,VeravalGu362266IN

4

G69530988

10534593

KOTAK MAHINDRA BANK LIMITED

17/11/2014

26/05/2015

05/12/2017

420000000.0

7TH FLOOR, AMBADEEP BUILDING14, K G MARGNEW DELHIDL110001IN

5

G68500016

100092906

YES BANK LIMITED

29/03/2017

-

23/11/2017

1000000000.0

NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIADR. A. B. ROAD, WORLIMUMBAIMH400018IN

6

G70042635

10550438

State Bank of India

02/02/2015

26/05/2015

16/11/2017

480000000.0

Commercial Branch, LHO complexHoshangabad RoadBhopalMP462011IN

7

G56695752

10563289

IDBI Bank Limited

27/03/2015

20/11/2015

07/10/2017

770000000.0

6, Malviya NagarBhopalBhopalMP462003IN

8

G48048235

10302358

DBS Bank Limited

27/07/2011

-

05/07/2017

900500000.0

Upper Ground Floor, Birla Tower,25, Barakhamba Road,New DelhiDL110001IN

9

C80932379

10336655

DBS Bank Ltd.

06/02/2012

14/08/2013

02/03/2016

540000000.0

CAPITOL POINT , BABA KHARAK SINGH MARGCONNAUGHT PLACENEW DELHIDL110001IN

10

C79109013

10389582

ADITYA BIRLA FINANCE LIMITED

23/11/2012

14/08/2013

10/02/2016

500000000.0

Indian Rayon CompoundVeravalGJ362266IN

 

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2017

31.03.2016

For Taxation matters

 

 

Excise duty under appeal

23.573

26.412

service tax

195.827

209.555

income tax

769.121

746.593

sales tax

44.567

55.237

Other than taxation matters

 

 

electricity charges

553.099

527.636

RPO obligation [(Net of REC certificate benefit Current Year INR 96.380 million

47.921

37.254

Labour related matters

19.854

3.810

 

Based on legal advice, discussions with the solicitors, etc., the management believes that there is fair chance of decisions in the companys favour in respect of all the items listed above and hence no provision is considered necessary against the same. The management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the company’s financial position and results of operations.

 

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE AND NINE MONTHS ENDED 31st DECEMBER 2017

 

 (INR In Million)

Particulars

Quarter ended

Nine Months ended

 

31.12.2017

30.09.2017

31.12.2017

 

Unaudited

INCOME FROM OPERATIONS

 

 

 

Net Sales

8427.100

4095.400

14659.500

Other Operating Income

53.000

25.500

85.800

Total Income from Operations

8480.100

4120.900

14745.300

 

 

 

 

EXPENSES

 

 

 

Cost of materials consumed

1439.100

1183.600

3756.000

Purchase of Stock in Trade

0.000

0.000

0.000

Changes in inventories of finished goods and work-in-progress

(293.800)

37.900

(435.800)

Employee benefits expense

331.400

169.800

639.500

Finance Cost

126.800

129.400

387.800

Depreciation and Amortization expenses

188.900

182.000

548.700

Power & Fuel

616.600

273.600

1103.800

Excise duty

0.000

0.000

83.500

Other Expenditure

758.700

533.100

1806.300

Total Expenses

3167.700

2509.400

7889.800

Profit/(Loss) Exceptional items

5312.400

1611.500

6855.500

Exceptional items

0.000

0.000

0.000

Profit / (Loss) before Tax

5312.400

1611.500

6855.500

Tax Expense

3421.100

1136.700

4473.300

Profit / (Loss) after Tax

3421.100

1136.700

4473.300

 

 

 

 

Other compressive income

 

 

 

Items that will not be reclassified

(4.300)

(3.100)

(7.400)

Income tax relating

1.500

1.100

2.600

Total other compressive income

3418.300

1134.700

4468.500

 

 

 

 

Paid-up Equity Share Capital (Face value INR 10/- per share)

399.600

399.600

399.600

 

 

 

 

Reserves (excluding Revaluation Reserve)

85.62

28.45

111.95

Earnings per Share (EPS) - INR

85.62

28.45

111.95

 

 

SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

 (INR In Million) 

Particulars

Quarter ended

Nine Months ended

 

31.12.2017

30.09.2017

31.12.2017

 

Unaudited

1. Segment Revenue

 

 

 

Graphite

8312.900

4070.100

14507.300

Power

693.200

521.700

1731.400

Other

0.100

0.000

0.100

Total segment revenue

9006.200

4591.900

16238.800

Less: Inter – segment revenue

579.100

496.400

1579.300

Total income from operations (net sales)

8427.100

4095.400

14659.500

 

 

 

 

2. Segment Results

 

 

 

Profit/ (loss) before tax and interest

 

 

 

Graphite

5229.400

1614.600

6770.400

Power

209.800

124.300

470.700

Other

0.000

2.000

2.200

Total segment results

5439.200

1740.900

7243.300

(Add)/Less: Finance Costs

126.800

129.400

387.800

Total Profit Before Tax

5312.400

1611.500

685.500

 

 

 

 

3.  Segment Assets

 

 

 

Graphite

19110.200

15950.800

19110.200

Power

1724.800

1676.400

1724.800

Other

1584.900

1587.100

1584.900

Total  Segment Assets

22419.800

19214.300

22419.800

 

 

 

 

3.  Segment Liabilities

 

 

 

Graphite

7720.900

6853.400

7720.900

Power

389.700

364.800

389.700

Other

45.600

57.300

45.600

Total  Segment Liabilities

8156.200

7275.500

8156.200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NOTES:

 

·         The figures of the corresponding previous period / year have been regrouped / recast / reclassified wherever considered necessary to correspond to current period / year classification.

·        
The Company continues to exercise the option made available by the Notification dated 29th December, 2011 issued by the Ministry of Corporate Affairs and also optional exemption under Ind-AS. Accordingly, during the quarter under review an amount of INR 5.300 Million ( Loss ) (Corresponding quarter of FY 2016-17 INR 22.200 Million (Loss)) being exchange difference arising on reporting of Long Term Foreign Currency Loans availed for acquisition of depreciable fixed assets have been taken to respective fixed assets.

·        
Operations at our Hydro Power Plant at Tawa are seasonal in nature. The plant generally remains closed in the 1st quarter, starts operating in the 2nd quarter, peaks in the 3rd quarter before tapering down in the last quarter.

Consequent to the introduction of GST w.e.f. 1st July,2017, Revenue are required to be shown net of GST. Revenue of earlier period are shown inclusive of excise duty.

·        
The above unaudited financial results have been reviewed by the Audit Committee and approved by board at their respective meetings held on 31st January ,2018, and have also been reviewed by the statutory auditors of the company as per the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.

 

FIXED ASSETS:

 

Tangible Asset:

  • Land
  • Building
  • Plant and equipment
  • Office equipment
  • Railway sidings
  • Electrical installation
  • Furniture and Fixture
  • 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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

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

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 66.77

UK Pound

1

INR 90.58

Euro

1

INR 79.97

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHA

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

JYTK

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--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)

 

 

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

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