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MIRA INFORM REPORT
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Report No. : |
508513 |
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Report Date : |
12.05.2018 |
IDENTIFICATION DETAILS
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Name : |
JAYASWAL NECO INDUSTRIES LIMITED (w.e.f. 05.09.2007) |
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Formerly Known
As : |
JAYASWALS NECO LIMITED |
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Registered Office
: |
F-8, MIDC Industrial Area, Hingna Road, Nagpur – 440016, Maharashtra |
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Tel. No.: |
91-7104-237276 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
28.11.1972 |
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Com. Reg. No.: |
11-016154 |
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Capital
Investment / Paid-up Capital : |
INR 6386.300 Million |
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CIN No.: [Company Identification
No.] |
L28920MH1972PLC016154 |
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IEC No.: [Import-Export Code No.] |
0388113758 |
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TIN No.: |
27090248267 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACJ3174F1ZQ |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACJ3174F |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in:
[Registered
Activity and also Confirmed by management] |
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No. of Employees
: [As on
31.03.2017] |
3952 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
“Jayaswal Neco Industries Limited” is a manufacturer and supplier of sanitary casting which include Centrifugally Cast Iron Pipe and Fittings, Cast Iron Manhole cover with Frames, Cast iron castings etc. The company was incorporated in the year 1972 and has its base in Nagpur (Maharashtra). The company has witnessed a growth in its revenue but has incurred a loss during the year and has given a negative output of Rupees 7.69 in the EPS section as compared to its original face value of Rupees 10. Return on equity and Return on assets stands negative. The company is listed on NSE and BSE where its share price is trading at around INR 7.20 against its face value of INR 10. The company was also found as defaulter and it has defaulted INR 926.805 million with Bank of Maharashtra as on 31st December 2017. However, these rating weakness gets partially offset by its long standing track record of its business operations. Trade relations are reported as poor. Business is active. Payment seems to be slow and delayed. In view of aforesaid, the company can be considered for business dealings on safe and secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Long Term Rating = D |
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Rating Explanation |
Lowest-credit-quality and very prospects of recovery. |
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Date |
16.11.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Rating = D |
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Rating Explanation |
Lowest-credit-quality and very low prospectus of recovery. |
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Date |
16.11.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under:
Suit filed accounts of INR 10.000 million and above
|
Borrowers’ Name : |
JAYASWAL NECO INDUSTRIES LIMITED |
|
Address : |
F-8, MIDC Industrial Area, Hingna Road, Nagpur – 440016, Maharashtra,
India |
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Name of Individual : |
Arvind Kumar Jayswal - 00249864 |
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Name of Credit Grantors / Bank & Branch: |
Bank of Maharashtra, Nagpuri Sitabuldi |
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Amount (INR In Millions) : |
INR 926.805 Million |
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 12.05.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-7104-237276]
LOCATIONS
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Registered/ Corporate Office : |
F-8 MIDC Industrial Area, Hingna Road, Nagpur – 440016, Maharashtra,
India |
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Tel. No.: |
91-7104-237276/ 237471/ 237472/ 236251/ 325682/ 325683/ 325684 |
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Mobile No.: |
91-9331007646 (Mr. Vijay) |
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Fax No.: |
91-7104-237583/ 236255 |
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E-Mail : |
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Website : |
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Manufacturing Facilities : |
Located at: ·
Steel Plant Division – Siltara Growth Centre,
Raipur-493111, Chhattisgarh,
India ·
Centri cast Division–MIDC Area, Hingna Road, Nagpur,
Maharashtra, India ·
Automotive Castings Division – MIDC Area, Hingna
Road and Butibori, Nagpur, Maharashtra, India ·
Construction Castings Division – Light Industrial
Area, Bhilai and Anjora (CG) · Engineering Castings Division - MIDC Area, Hingna Road, Nagpur, Maharashtra, India |
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Branch Office 1 : |
23/7
Mathura Road Opposite Plot No 253, Sector 58, Near Jharsently Government
School, Faridabad-121004, Haryana, India |
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Branch Office 2 : |
32A,
Chittaranjan Avenue, Trust House, 5th Floor, Kolkata-700012, West Bengal,
India |
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Tel No.: |
91-33-22122368
– 22120502 |
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Branch Office 3: |
“NECO HOUSE” D-307, Defence Colony, New Delhi – 110024, India |
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Tel No.: |
91-11-32041695 |
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Fax No.: |
91-11-24642190 |
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Branch Office 4: |
178-A, Light Industrial Area, Bhilai – 490026, Chhatisgarh, India |
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Tel No.: |
91-788-2282845 |
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Fax No.: |
91-788-2286679 |
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Branch Office 5: |
301, Tulsiani Chamber, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Tel No.: |
91-22-42134813 / 22832381 |
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Fax No.: |
91-22-22832367 |
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Other Branch Offices : |
Located at: · Pune · Rajkot · Bangalore · Chennai |
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Depots : |
Located at: ·
Faridabad ·
Ludhiana |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Basant Lall Shaw |
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Designation : |
Chairman / Director |
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Address : |
Usha Sadan 246, Pt R S S Marg, Civil Lines Nagpur – 440001, Maharashtra, India |
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Date of Birth/Age : |
03.08.1933 |
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Qualification : |
B. Com |
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Experience in
Specific Functional Areas : |
Associated with Iron and Steel business for over 56 years. Instrumental in setting up 1 MTPA Integrated Steel plant in Raipur and other units in the Group in India and Abroad. Founder and Chairman of Neco Group of Industries. |
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Date of Appointment : |
28.11.1972 |
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DIN No.: |
00249729 |
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Name : |
Mr. Brajkishore Hargovind Agrawal |
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Designation : |
Independent Director |
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Address : |
51, New Colony Byramji Town, Nagpur – 440001, Maharashtra, India |
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Date of Appointment : |
10.08.1994 |
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DIN No.: |
01223894 |
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Name : |
Mr. Satyendra Narain Tej Narain Singh |
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Designation : |
Independent Director |
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Address : |
Ashtha Plot No.5, Satpur MIDC, (Anaada Vadi), Pipeline Road, Nasik – 422013, Maharashtra, India |
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Date of Birth/Age : |
25.05.1948 |
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Qualification : |
B-Tech (Metallurgy) |
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Experience in
Specific Functional Areas : |
Over 32 years-experience in Steel Sector. Possesses sound technical knowledge of Blast furnace, operation of Steel Plant and Quality Management. Presently acting as advisor to various Steel Sector Companies. |
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Date of Appointment : |
10.02.2014 |
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DIN No.: |
00398484 |
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Name : |
Mr. Pramod Kumar Bhardwaj |
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Designation : |
Whole Time Director (IDBI Bank Nominee) |
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Address : |
P No. 228 A, F No. 404 Rachna Sahil T Point Subhash Nagar. Nagpur – 440022, Maharashtra, India |
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Date of Appointment : |
25.02.2011 |
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DIN No.: |
03451077 |
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Name : |
Mr. Darshan Kumar Sahni |
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Designation : |
Director |
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Address : |
J 12/31 3rd Floor, Rajouri Garden, New Delhi – 110027, India |
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Date of Appointment : |
11.08.2014 |
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DIN No.: |
00131269 |
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Name : |
Mr. Bharat Pal Singh |
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Designation : |
Additional Director |
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Address : |
Flat No. 1102/03, 11th Floor, Daffodils, Neelkanth Gardens, Near Govandi Station Mumbai 400088, Maharashtra, India |
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Date of Appointment : |
26.05.2017 |
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DIN No.: |
00739712 |
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Name : |
Ms. Raji Nathani |
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Designation : |
Independent Director |
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Address : |
A-1/68, Sector-55, Sushant Lok-II, Vill-Ghata, Tehsil-Sohna, Dist-Gurugram -122011, Haryana, India |
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Date of Birth/Age : |
22.10.1966 |
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Qualification : |
B.Com. (Hon's), M.Com., ACMA |
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Experience in
Specific Functional Areas : |
Practicing Cost and Management Accountant having more than 23 years of experience in cost compliance, taxation and regulatory compliance, corporate advisory services and cost audits of petroleum, automotive and electronic industries with core competence in management of costs. |
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Date of Appointment : |
11.08.2014 |
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DIN No.: |
06945777 |
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Name : |
Mr. Arvind Shrinivasan Iyer |
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Designation : |
Independent Director |
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Address : |
Flat No 131, 13th Floor, Kalpataru J V Link Road, Andheri East, Mumbai – 400093, Maharashtra, India |
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Date of Birth/Age : |
27.03.1962 |
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Qualification : |
M.Com, MBA, ICWA |
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Experience in
Specific Functional Areas : |
Vast experience in planning and implementation of Projects and Operational expertise in manufacturing sector |
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Date of Appointment : |
13.11.2014 |
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DIN No.: |
01375173 |
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Name : |
Mr. Megh Pal Singh |
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Designation : |
Whole Time Director |
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Address : |
Block A, Flat- 1, Fourth Floor, Arihant Heights, Bhairav Society, Pachpe Di Naka Raipur – 492001, Chhattisgarh, India |
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Date of Birth/Age : |
22.03.1958 |
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Qualification : |
B.E. Metallurgy and Material Science |
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Experience in
Specific Functional Areas : |
Rich experience of about 35 years in almost all the functional areas of a Steel Plant. |
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Date of Appointment : |
13.11.2014 |
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DIN No.: |
02635073 |
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Name : |
Mr. Ramesh Jayaswal |
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Designation : |
Joint Managing Director |
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Address : |
Usha Sadan, 246, Pt R S S Marg Civil Lines, Nagpur – 440001, Maharashtra, India |
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Date of Birth/Age : |
02.02.1960 |
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Qualification : |
B.Com |
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Experience in
Specific Functional Areas : |
Associated with Iron and Steel business for over 27 year Looks after the implementation of new projects and other allied matter |
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Date of Appointment : |
05.03.1983 |
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DIN No.: |
00249947 |
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Name : |
Mrs. Kanika Sharma |
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Designation : |
Nominee Director |
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Address : |
Flat No. 205, Jagat Millenium Giripeth, Nagpur - 440010, Maharashtra, India |
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Date of Appointment : |
10.08.2017 |
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DIN No.: |
07902750 |
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Name : |
Mr. Arvindkumar Jayaswal |
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Designation : |
Managing Director and Compliance Officer |
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Address : |
Usha Sadan, 246, Pt R S S Marg Civil Lines, Nagpur – 440001, Maharashtra, India |
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Date of Birth/Age : |
26.11.1953 |
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Qualification : |
B.Sc. |
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Experience in
Specific Functional Areas : |
Associated with Iron and Steel business for over 37 year Looks after the administrative, accounts, technical and other allied matter |
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Date of Appointment : |
28.11.1972 |
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DIN No.: |
00249864 |
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Name : |
Mr. Bharat Pal Singh |
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Designation : |
Director |
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Date of Appointment : |
26.05.2017 |
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DIN No.: |
00739712 |
KEY EXECUTIVES
|
Name : |
Mr. Ashutosh Mishra |
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Designation : |
Company Secretary |
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Address : |
Flat No. 101, Uday Apartment, Rajendra Nagar, Hingna Road,
Nagpur – 440016, Maharashtra, India |
|
Date of Appointment : |
30.04.2014 |
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PAN No.: |
AFDPM4265M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
Category of Shareholders |
No. of Shares |
% age holding |
|
(A) Promoter and Promoter Group |
439302841 |
68.79 |
|
(B) Public |
199330222 |
31.21 |
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|
|
|
|
Total |
638633063 |
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 (A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu
undivided Family |
15158690 |
2.37 |
|
|
ARBIND JAYASWAL |
2397920 |
0.38 |
|
|
BASANT LALL SHAW |
10312850 |
1.61 |
|
|
RAMESH JAYASWAL |
2397920 |
0.38 |
|
|
RITA JAYASWAL |
25000 |
0.00 |
|
|
NISHA JAYASWAL |
25000 |
0.00 |
|
|
Any Other
(specify) |
424144151 |
66.41 |
|
|
KARAMVEER IMPEX PRIVATE LIMITED |
47229000 |
7.40 |
|
|
NECO VALVES AND PUMPS PVT LTD |
864000 |
0.14 |
|
|
NECO LEASING AND FINANCE PVT LTD |
899500 |
0.14 |
|
|
JAYASWAL HOLDINGS PVT LTD |
53098951 |
8.31 |
|
|
AVON SALES AND SERVICES PRIVATE LIMITED |
39095000 |
6.12 |
|
|
JAYASWAL NECO POWER PRIVATE LIMITED |
36354500 |
5.69 |
|
|
NINE STAR PLASTIC PACKAGING SERVICES PRIVATE
LIMITED |
44294600 |
6.94 |
|
|
JAYASWAL NECO ENERGY PRIVATE LIMITED |
39732000 |
6.22 |
|
|
JAYASWAL NECO METALLICS PRIVATE LIMITED |
40710500 |
6.37 |
|
|
JAYASWAL NECO INFRASTRUCTURES PRIVATE
LIMITED |
34385500 |
5.38 |
|
|
ANURAG SALES AND SERVICES PVT LTD |
38931000 |
6.10 |
|
|
JAYASWAL NECO STEEL AND MINING PRIVATE
LIMITED |
13250000 |
2.07 |
|
|
APEX SPINNING MILLS PVT LTD |
35299600 |
5.53 |
|
|
Sub Total A1 |
439302841 |
68.79 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
439302841 |
68.79 |
|
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 % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
13655249 |
2.14 |
|
|
RELIANCE CAPITAL TRUSTEE CO. LTD. A/C
RELIANCE DIVERSIFIED POWER SECTOR FUND |
13648814 |
2.14 |
|
|
Foreign
Portfolio Investors |
52500 |
0.01 |
|
|
Financial
Institutions/ Banks |
4086 |
0.00 |
|
|
Any Other
(specify) |
245 |
0.00 |
|
|
Sub Total B1 |
13712080 |
2.15 |
|
|
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 |
27301228 |
4.27 |
|
|
Individual share
capital in excess of INR 0.200 Million |
32914011 |
5.15 |
|
|
NBFCs registered
with RBI |
360 |
0.00 |
|
|
Any Other
(specify) |
125402543 |
19.64 |
|
|
DARSHAN GEMS PRIVATE LIMITED |
16520000 |
2.59 |
|
|
SALMON DEVELOPERS PRIVATE LIMITED |
16845000 |
2.64 |
|
|
COSTAL MULTITRADING PRIVATE LIMITED |
25000353 |
3.91 |
|
|
EFFICIENT STRUCTURES PRIVATE LIMITED |
27862353 |
4.36 |
|
|
RAJVARDHAN TRADEZONE PRIVATE LIMITED |
25512353 |
3.99 |
|
|
Sub Total B3 |
185618142 |
29.06 |
|
|
B=B1+B2+B3 |
199330222 |
31.21 |
|
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in:
[Registered
Activity and also Confirmed by management] |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
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Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees
: [As on
31.03.2017] |
3952 [Approximately] |
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Bankers : |
· PNB Consortium - Lead - Punjab National Bank Mahajan Market, Sitabuldi, Nagpur - 440012, Maharashtra, India ·
Andhra Bank ·
Bank of India ·
Bank of Maharashtra ·
UCO Bank ·
Central Bank of India ·
ICICI Bank Limited ·
Indian Overseas Bank ·
IDBI Bank Limited ·
Union Bank of India ·
Oriental Bank of Commerce |
||||||||||||||||||||||||
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Facilities : |
|
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Auditors : |
|
|
Name : |
Pathak H D and Associates Chartered Accountants |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Agrawal Chhallani and Company Chartered Accountants |
|
Address : |
51/A, Ground Floor, New Colony, Nagpur,
Maharashtra, India |
|
|
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|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
|
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|
Subsidiary : [As on
31.03.2017] |
Jayaswal Neco Urja Limited (Upto 28.11.2016) |
|
|
|
|
Associate
Company : [As on
31.03.2017] |
Maa Usha Urja Limited |
|
|
|
|
Enterprises in which key managerial
personnel and their relatives are able to exercise significant influence with
whom transactions have taken place during the year : [As on
31.03.2017] |
· Apex Spinning Mills Private Limited · Anurag Sales and Services Private Limited · Avon Sales and Services Private Limited · AMR Iron and Steel Private Limited · Jayaswal Neco Infrastructures Private Limited · Jayaswal Neco Energy Private Limited · Jayaswal Neco Metallics Private Limited · Neco Defence Systems Limited · Jayaswal Neco Steel and Mining Limited · Nine Star Plastic Packaging Services Private Limited · Karamveer Impex Private Limited · Neco Heavy Engineering and Castings Limited · Neco Ceramics Limited · NSSL Private Limited · Steel and Tube Exports Limited · Jayaswal Neco Urja Limited (w.e.f. 29.11.2016) · The Jayaswal Basant Lall Shaw Family Trust |
CAPITAL STRUCTURE
AFTER 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 6386.300
Million
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 |
|
|
|
|
|
|
638633063 |
Equity Shares |
INR 10/- each |
INR
6386.330 Million |
|
|
Less : Allotment Money Unpaid (from other than Directors) |
|
INR 0.072
Million |
|
|
Total |
|
INR 6386.258 Million |
Reconciliation of
Equity Shares outstanding at the beginning and at the end of the year
|
PARTICULARS |
31.03.2017 |
|
|
|
No. of Shares |
INR in Million |
|
Shares outstanding at the beginning of the year |
638633063 |
6386.330 |
|
Shares outstanding at the end of the year |
638633063 |
6386.330 |
Details of
Shareholders, holding more than 5% shares of the Company
|
PARTICULARS |
31.03.2017 |
|
|
|
No. of Shares |
INR in Million |
|
Jayaswal Holdings Private Limited |
53098951 |
8.31 |
|
Karamveer Impex Private Limited |
47229000 |
7.40 |
|
Nine Star Plastic Packaging Services Private Limited |
44294600 |
6.94 |
|
Jayaswal Neco Metallics Private Limited |
40710500 |
6.37 |
|
Jayaswal Neco Energy Private Limited |
39732000 |
6.22 |
|
Avon Sales & Services Private Limited |
39095000 |
6.12 |
|
Anurag Sales & Services Private Limited |
38931000 |
6.10 |
|
Jayaswal Neco Power Private Limited |
36354500 |
5.69 |
|
Apex Spinning Mills Private Limited |
35299600 |
5.53 |
|
Jayaswal Neco Infrastructures Private Limited |
34385500 |
5.38 |
32649600 (31st March, 2016: 32649600 and 1st April, 2015: 32649600) shares were allotted in the last five years pursuant to Scheme of Arrangement without payment being received in cash.
Rights of Equity Shareholders
The Company has only one class of equity shares having a face value of INR 10/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation of the Company, the equity shareholders will be entitled to receive any of 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 shareholder.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6386.300 |
6386.258 |
6386.258 |
|
(b) Reserves & Surplus |
5112.600 |
9988.521 |
14592.542 |
|
(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) |
11498.900 |
16374.779 |
20978.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
26024.500 |
28074.702 |
30061.477 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
988.863 |
2294.628 |
|
(c)
Other long term liabilities |
2.600 |
2.625 |
2.675 |
|
(d)
long-term provisions |
1.900 |
1.750 |
1.585 |
|
Total
Non-current Liabilities (3) |
26029.000 |
29067.940 |
32360.365 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
9197.300 |
10458.047 |
10961.956 |
|
(b)
Trade payables |
2799.000 |
2864.761 |
1831.581 |
|
(c)
Other current liabilities |
17483.200 |
9811.425 |
4139.424 |
|
(d)
Short-term provisions |
645.400 |
1072.097 |
498.766 |
|
Total
Current Liabilities (4) |
30124.900 |
24206.330 |
17431.727 |
|
|
|
|
|
|
TOTAL |
67652.800 |
69649.049 |
70770.892 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
48814.300 |
47656.186 |
21842.597 |
|
(ii)
Intangible Assets |
177.900 |
198.551 |
157.595 |
|
(iii)
Capital work-in-progress |
4771.000 |
4402.484 |
28399.668 |
|
(iv) Intangible assets under development |
164.000 |
163.590 |
69.747 |
|
(b) Non-current
Investments |
11.300 |
0.000 |
0.001 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
10.600 |
60.938 |
62.989 |
|
(e)
Other Non-current assets |
343.700 |
2537.319 |
6818.549 |
|
Total
Non-Current Assets |
54292.800 |
55019.068 |
57351.146 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
6.000 |
11.266 |
9.974 |
|
(b)
Inventories |
5428.400 |
6813.520 |
6304.721 |
|
(c)
Trade receivables |
5607.900 |
4108.120 |
3131.730 |
|
(d)
Cash and cash equivalents |
1132.300 |
581.086 |
416.227 |
|
(e)
Short-term loans and advances |
252.400 |
1370.883 |
2690.500 |
|
(f)
Other current assets |
933.000 |
1745.106 |
866.594 |
|
Total
Current Assets |
13360.000 |
14629.981 |
13419.746 |
|
|
|
|
|
|
TOTAL |
67652.800 |
69649.049 |
70770.892 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
35776.700 |
28477.390 |
29518.704 |
|
|
|
Other Income |
245.500 |
288.253 |
349.476 |
|
|
|
TOTAL |
36022.200 |
28765.643 |
29868.180 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
17746.100 |
13738.581 |
15718.605 |
|
|
|
Purchases of Stock-in-Trade |
230.400 |
309.407 |
950.518 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
699.600 |
(811.889) |
776.832 |
|
|
|
Employees benefits expense |
1983.000 |
1743.307 |
1363.510 |
|
|
|
Excise duty and service tax |
1002.700 |
3313.210 |
3096.798 |
|
|
|
Exceptional items |
(70.600) |
0.000 |
582.984 |
|
|
|
Other expenses |
5914.200 |
7384.457 |
5415.805 |
|
|
|
Consumable, stores and spares
consumed |
5125.400 |
0.000 |
0.000 |
|
|
|
TOTAL |
32630.800 |
25677.073 |
27905.052 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
3391.400 |
3088.570 |
1963.128 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6581.800 |
5489.498 |
2233.137 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
(3190.400) |
(2400.928) |
(270.009) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
2730.000 |
2550.702 |
820.425 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
(5920.400) |
(4951.630) |
(1090.434) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1006.800) |
(358.558) |
(219.830) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(4913.600) |
(4593.072) |
(870.604) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
|
|
61.839 |
|
|
|
Freight |
|
|
1.834 |
|
|
TOTAL EARNINGS |
|
NA |
63.673 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
|
|
441.848 |
|
|
|
Components and Stores parts |
|
|
255.022 |
|
|
|
Capital Goods |
|
|
11.436 |
|
|
TOTAL IMPORTS |
NA |
NA |
708.306 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
(7.69) |
(7.19) |
(1.36) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
3208.493 |
1650.010 |
|
|
|
|
|
|
Cash generated from operations |
NA |
2747.005 |
4970.827 |
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
NA |
2716.672 |
4982.969 |
QUARTERLY RESULTS
|
PARTICULARS |
30.09.2017 |
31.12.2017 |
31.03.2018 |
|
Type |
1st
Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
8324.400 |
8210.200 |
10360.700 |
|
Total Expenditure |
7493.100 |
7756.300 |
9277.000 |
|
PBIDT (Excl OI) |
831.300 |
453.900 |
1083.700 |
|
Other Income |
10.500 |
189.000 |
7.200 |
|
Operating Profit |
841.800 |
642.900 |
1090.900 |
|
Interest |
1663.100 |
1687.700 |
1825.200 |
|
Exceptional Items |
0.000 |
(13.000) |
0.000 |
|
PBDT |
(821.300) |
(1057.800) |
(734.300) |
|
Depreciation |
640.400 |
686.300 |
769.000 |
|
Profit Before Tax |
(1461.700) |
(1744.100) |
(1503.300) |
|
Tax |
(758.000) |
1.500 |
(22.300) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(703.700) |
(1745.600) |
(1481.000) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
(703.700) |
(1745.600) |
(1481.000) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
57.21 |
52.65 |
38.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.38 |
6.93 |
9.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
56.83 |
74.43 |
40.11 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.62 |
0.45 |
0.31 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.06 |
0.06 |
0.04 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.83 |
0.80 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
3.06 |
2.55 |
2.03 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.62 |
1.48 |
0.83 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
4.69 |
3.20 |
2.41 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.52 |
0.56 |
0.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(13.73) |
(16.13) |
(2.95) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(7.26) |
(6.59) |
(1.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(42.73) |
(28.05) |
(4.15) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.44 |
0.60 |
0.77 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.26 |
0.32 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.17 |
0.24 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
5.52 |
6.54 |
6.68 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.44 |
0.60 |
0.77 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
|
|
|
Market Value |
INR 7.20/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
6386.258 |
6386.258 |
6386.300 |
|
Reserves & Surplus |
14592.542 |
9988.521 |
5112.600 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
20978.800 |
16374.779 |
11498.900 |
|
|
|
|
|
|
long-term borrowings |
30061.477 |
28074.702 |
26024.500 |
|
Short term borrowings |
10961.956 |
10458.047 |
9197.300 |
|
Current Maturities of Long
term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
41023.433 |
38532.749 |
35221.800 |
|
Debt/Equity
ratio |
1.955 |
2.353 |
3.063 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR In
Million |
INR
In Million |
INR
In Million |
|
Sales |
29518.704 |
28477.390 |
35776.700 |
|
|
|
(3.528) |
25.632 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
29518.704 |
28477.390 |
35776.700 |
|
Profit/(Loss) |
(870.604) |
(4593.072) |
(4913.600) |
|
|
(2.95%) |
(16.13%) |
(13.73%) |
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G02785327 |
10616609 |
PNB CONSORTIUM - LEAD - PUNJAB NATIONAL BANK |
27/01/2016 |
22/04/2016 |
- |
22632300000.0 |
MAHAJAN MARKETSITABULDINAGPURMH440012IN |
|
2 |
G03506524 |
10612880 |
UNION BANK OF INDIA |
21/12/2015 |
22/04/2016 |
- |
900000000.0 |
GANDHIBAGH BRANCH,318, POST OFFICE ROAD,NAGPURMH440002IN |
|
3 |
C65210957 |
10593002 |
AXIS BANK LIMITED |
10/09/2015 |
- |
- |
2227500.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
4 |
C62316930 |
10587604 |
AXIS BANK LIMITED |
31/07/2015 |
- |
- |
1400000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
5 |
C52311529 |
10566737 |
AXIS BANK LIMITED |
24/04/2015 |
- |
- |
436000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
6 |
G03018710 |
10564647 |
UCO BANK |
31/03/2015 |
22/04/2016 |
- |
359400000.0 |
FLAGSHIP CORPORATE BRANCH, 1ST FLOOR,MAFATLAL CENTRE, NARIMAN POINT,MUMBAIMH400021IN |
|
7 |
G03474087 |
10560710 |
UNION BANK OF INDIA |
19/03/2015 |
22/04/2016 |
- |
275604000.0 |
GANDHIBAGH BRANCH318 POST OFFICE ROADNAGPURMH440002IN |
|
8 |
C42503284 |
10547151 |
AXIS BANK LIMITED |
28/01/2015 |
- |
- |
939220.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
9 |
G03369600 |
10541732 |
STATE BANK OF INDIA |
30/12/2014 |
22/04/2016 |
- |
980000000.0 |
INDUSTRIAL FINANCE BRANCH,5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD,NAGPURMH440033IN |
|
10 |
G02897718 |
10485451 |
PUNJAB NATIONAL BANK |
24/03/2014 |
22/04/2016 |
- |
1330000000.0 |
MAHAJAN MARKET,SITABULDINAGPURMH440012IN |
|
11 |
G05646716 |
10471710 |
IDBI BANK LIMITED |
09/01/2014 |
01/06/2016 |
- |
1000000000.0 |
WTC COMPLEX,CUFFE PARADE,MUMBAIMH400005IN |
|
12 |
B83482174 |
10445870 |
AXIS BANK LIMITED |
26/08/2013 |
- |
- |
860000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
13 |
G09217142 |
10278072 |
IDBI TRUSTEESHIP SERVICES LIMITED (SECURITY TRUSTEE FOR RUPEE LENDERS) |
24/03/2011 |
27/07/2016 |
- |
4356100000.0 |
ASIAN BUILDING, GROUND FLOOR,17-R, KAMANI MARG, BALLARD ESTATE,MUMBAIMH400001IN |
|
14 |
G03378247 |
10138505 |
SBI CONSORTIUM - LEAD - STATE BANK OF INDIA |
13/01/2009 |
22/04/2016 |
- |
10976900000.0 |
INDUSTRIAL FINANCE BRANCH5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD,NAGPURMH440010IN |
|
15 |
G05647706 |
10121514 |
IDBI BANK LIMITED |
25/08/2008 |
01/06/2016 |
- |
127500000.0 |
WTC COMPLEX,CUFFE PARADE,MUMBAIMH400005IN |
|
16 |
Y10349387 |
90241750 |
UNITED INSIA INSURANCE COMPANYLTD. |
17/11/2005 |
- |
- |
1600000.0 |
24 WHITES ROADP O BOXNO 876CHENNAITN600014IN |
|
17 |
Z00137174 |
80031674 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LTD |
17/11/2005 |
17/11/2005 |
- |
165300000.0 |
IDBI TOWER WTC COMPLEX CUFFE PARADEMUMBAIMH400005IN |
|
18 |
Y10349386 |
90241749 |
BANK OF PUNJAB LTD. |
17/11/2005 |
- |
- |
15000000.0 |
171 B MITTEL COURTNARIMAN POINTMUMBAIMH400021IN |
|
19 |
Y10349286 |
90241649 |
INDUSTRIAL INVESTMENT BANK OF INDIA LTD. |
17/11/2005 |
- |
- |
14200000.0 |
EARNEST HOUSENARIMAN POINTMUMBAIMH400021IN |
|
20 |
Y10288936 |
90187037 |
GLOBAL TRUST BANK LTD |
23/12/2003 |
- |
- |
105000000.0 |
15 MAKER CHAMBERS 3 NARIMAN POINTMUMBAIMH440021IN |
|
21 |
Y10288775 |
90186876 |
GLOBAL TRUST BANK LIMITED |
25/09/2001 |
- |
- |
50000000.0 |
303-48-3 SARDAR PATEL ROADSECUNDARABADAP500003IN |
|
22 |
Y10288743 |
90186844 |
INDUSTRIAL DEVELOPMENT BANK OT INDIA |
09/04/2001 |
- |
- |
270000000.0 |
IDBI TOWERWTC COMPLEXMUMBAIMH440005IN |
|
23 |
Y10289766 |
90187867 |
GLOBAL TRUST BANK LTD |
01/11/2000 |
- |
- |
50000000.0 |
15 MAKER CHAMBERS3 NARIMAN POINTMUMAIMH400021IN |
|
24 |
Y10288685 |
90186786 |
ICICI LIMITED |
20/09/2000 |
- |
- |
121000000.0 |
ICICI TOWERBANDRA KURALA COMPLEXMUMBAIMH400051IN |
|
25 |
Y10289751 |
90187852 |
ALL AND SINGULAR THE LEASEHOLD LANDS SITUSTE |
27/04/2000 |
- |
- |
80000000.0 |
T 42 IN THE NAGPUR INDUSTRIAL AREANAGPURMHIN |
|
26 |
Z00138763 |
80032075 |
IDBI |
24/03/2000 |
17/11/2005 |
- |
294800000.0 |
IDBI TOWER ,COLABAMUMBAIMH400005IN |
|
27 |
Y10288647 |
90186748 |
INDUSTRIAL INVESTMENT BANK OF INDIA LTD. |
24/03/2000 |
17/11/2005 |
- |
50000000.0 |
EARNEST HOUSENARIMAN POINTMUMBAIMH400021IN |
|
28 |
Y10288499 |
90186600 |
GLOBAL TRUST BANK LTD |
08/08/1998 |
- |
- |
50000000.0 |
MAKER CHAMBERS3NARIMAN POINTMUMBAIMH400021IN |
|
29 |
Y10288426 |
90186527 |
GLOBAL TRUST BANK LTD |
02/01/1998 |
- |
- |
101000000.0 |
MAKER CHAMBERS 3 NARIMAN POINTMUMBAIMH400021IN |
|
30 |
Y10288424 |
90186525 |
ORIENTAL INS COMPANYLTD. |
31/12/1997 |
17/11/2005 |
- |
1900000.0 |
ORIENTAL HOUSEASAF ALI ROADDELHIDL110002IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
|
|
|
|
Sales Tax Deferral |
|
491.134 |
|
Inter Corporate Deposits
from Related Parties |
|
57.421 |
|
Long Term Maturities of
Finance Lease Obligations |
|
64.878 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Inter Corporate Deposits
taken from : |
|
|
|
Related Parties |
|
238.783 |
|
Others |
|
1099.367 |
|
Suppliers Credits |
|
2515.600 |
|
|
|
|
|
Total |
NA |
4467.183 |
CORPORATE INFORMATION: [As On 31.03.2017]
The Company is domiciled and incorporated in India under the provision of the Companies Act, 1956 and its shares are listed on the Bombay Stock Exchange ('BSE') and National Stock Exchange of India ('NSE'). The registered office of the Company is situated at F-8, MIDC Industrial Area, Hingna Road, Nagpur-440016, Maharashtra, India and manufacturing facilities are located in the states of Chhattisgarh and Maharashtra, in India.
The Company is engaged in manufacture and supply of pig iron, sponge iron, pellet, steel and Iron & steel casting.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
|
|
|
|
Guarantees given by the Company's Bankers (Bank guarantees are provided under contractual / legal obligation) |
|
240.202 |
|
Corporate Guarantee (Given to Banks against the borrowings taken by one of the Associate Company) |
|
118.100 |
|
LETTER OF CREDIT
OUTSTANDING |
|
|
|
Letters of Credit opened in favour of Suppliers (Cash flow is expected on receipt of material from suppliers) |
|
731.539 |
|
Liability in respect of Bills Discounted |
|
883.590 |
|
Demands not
acknowledged as debts |
|
|
|
Disputed Excise Duty and Service Tax |
|
59.562 |
|
Disputed Sales Tax |
|
130.959 |
|
Disputed Customs Duty |
|
19.107 |
|
Other Disputed Demands (Mainly related to demand of Cess on Power, Electricity Duty and Stamp Duty) |
|
742.582 |
|
Third Party Claims (Matters are pending before various forums) |
|
34.829 |
|
Total |
NA |
987.039 |
FIXED ASSETS:
Tangible Assets
·
Land Freehold
·
Buildings
·
Railway Siding
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
· Leasehold Land
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 67.22 |
|
UK Pound |
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.09 |
INFORMATION
DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.