EASTERN INVESTMENTS LIMITED SHARE
ABOUT EASTERN INVESTMENTS LIMITED is
EASTERN INVESTMENTS LIMITED is a Non-Banking Financial Company (NBFC) classified as a Union Government company. It was nationalized by the Government of India by virtue of the Bird & Company Limited and it became a PSU in March 2010, it is a shell company, so not classified by the Department of Public Enterprises. The company became a subsidiary company of RINL (Rashtriya Ispat Nigam Limited) in January 2011.
Eastern Investments Limited is the Holding company of The Orissa Minerals Development Company Limited (OMDC) and The Bisra Stone Lime Company Limited (BSLC).
The income of the company is derived mainly from (i) Dividends from investments in shares of various companies including subsidiary companies OMDC and BSLC, (ii) Interest on term deposits with banks, and deposits in bonds.
Equity shares of Eastern Investments Limited are listed on Calcutta Stock Exchange.
INCORPORATION DETAILS
CIN | L65993OR1927GOI034842 |
Registration Date | 03 January 1927 |
Category/Sub-category of the Company | NBFC |
Address of the Registered office and contact details | Hal Plot No. 428/3855 at Mouza, Goutam Nagar, Jayadev Nagar, Lewis Road, Nageswar Tangi, Bhubaneswar, Khordha, Odisha- 751002, India Tel/Fax: 0674 – 2391595, 2391495 |
Name, Address and Contact Details of Registrar and Transfer Agent, if any | C B Management Services (P) Ltd, P – 22, Bondel Road, Kolkata – 700019 Phone: (033) 4011 6700/2280 6692/2282 3643 Email: rta@cbmsl.com |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
Name and Description of main products/services | % to total turnover of the Company |
Dividend from Subsidiary | 50.92% |
Interest Received from Investments with bonds | 46.65% |
BOARD OF DIRECTORS
Shri P. K Rath (Non- Executive Chairman & CMD RINL)
Smt Swapna Bhattacharya (Government Nominee Director)
Shri D K Mohanty (Non- Executive Managing Director)
Smt. Nutan Wodeyar (Non- official Independent Director)
Shri Santosh Kumar Singh (Non- official Independent Director)
PARTICULARS OF SUBSIDIARY COMPANIES
Name of the Company | % of shares held |
Orissa Minerals Development Company Limited (OMDC) | 50.01% |
Bisra Stone Lime Company Limited (BSLC) | 50.01% |
EASTERN INVESTMENTS LIMITED SHARES DETAILS
Total Available Shares: | 14,44,387 |
Face Value: | Rs. 10 Per Equity Share |
ISIN: | INE684E01015 |
PAN No. | AABCE0830E |
Lot Size: | 50 Shares |
Last Traded Price: | Rs. 800 |
Market Cap: | Rs. 115.55 Crore |
SHAREHOLDING PATTERN
(As on 31-03-2020)
S. No. | Shareholders’ Name | Number of shares | % of total Shares of the company |
1 | Rashtriya Ispat Nigam Ltd. | 7,36,638 | 51.00% |
2 | President of India | 2,28,114 | 15.79% |
3 | The Orissa Minerals DevelopmentCo.Ltd. | 25,434 | 1.76% |
4 | Public Shareholding | 4,54,201 | 31.45% |
| Total | 14,44,387 | 100.00% |
KEY FINANCIALS OF EASTERN INVESTMENTS LIMITED(In Rs. Lakhs)
Particulars | 2020 | 2019 | 2018 | 2017 |
Revenue from Operations | 6,187.19 | 9,190.83 | 9,695.76 | 9,789.57 |
EBITDA | -4,521.35 | -64,932.48 | -25,775.31 | -273.88 |
Finance Cost | 2,145.27 | 428.15 | 0 | 0 |
Depreciation | 273.03 | 1,518.36 | 1,564.79 | 573.31 |
Other Income | 1096.82 | 339.66 | 532.46 | 244.6 |
Profit Before Tax | -5,842.83 | -66,539.33 | -26,807.64 | -602.59 |
Total Tax | 2,816.59 | -18,642.37 | -478.97 | -580.22 |
Profit/Loss After Tax (PAT) | -8,659.42 | -47,896.96 | -26,328.67 | -1,182.81 |
EPS | -303.89 | -1,685.02 | -1,855.50 | -83.36 |
BALANCE SHEET OF EASTERN INVESTMENTS LIMITED (In Rs. Lakhs)
Particulars | 2020 | 2019 |
ASSETS | ||
NON CURRENT ASSETS | ||
Tangible assets | 1,641.89 | 1,664.27 |
Intangible assets | 1,266.67 | 1,423.49 |
Financial assets | 629.14 | 449.12 |
Tax assets | 22,888.23 | 25,228.59 |
Other noncurrent assets | 59.11 | 59.05 |
TOTAL NON CURRENT ASSETS | 26,485.04 | 28,824.52 |
CURRENT ASSETS | ||
Inventories | 2,930.01 | 2,862.27 |
Trade receivables | 333.41 | 432.81 |
Cash and cash equivalent | 17,673.29 | 35,075.95 |
Financial assets | 1,248.37 | 2,018.44 |
Other current assets | 3,319.06 | 3,052.33 |
TOTAL CURRENT ASSETS | 25,504.14 | 43,441.80 |
TOTAL ASSETS | 51,989.17 | 72,266.32 |
EQUITY AND LIABILITIES | ||
EQUITY | ||
Equity Share Capital | 141.9 | 141.9 |
Other Equity | -5,426.85 | -1,010.76 |
Non-controlling interests | -1,032.86 | 3,418.55 |
TOTAL EQUITY | -6,317.81 | 2,549.69 |
LIABILITIES | ||
NON CURRENT LIABILITIES | ||
Long term provisions | 2,023.40 | 2,370.33 |
Tax liabilities | 272.8 | 294.18 |
TOTAL NON CURRENT LIABILITIES | 2,296.20 | 2,664.51 |
CURRENT LIABILITIES | ||
Borrowings | 31,000.00 | 12,300.93 |
Trade payables | 840.03 | 3,541.90 |
Other current liabilities | 4,951.09 | 5,629.00 |
Short term provisions | 8,975.97 | 7,856.46 |
Other Financial liabilities | 7,439.71 | 35,156.23 |
Tax liabilities | 2,803.98 | 2,567.60 |
TOTAL CURRENT LIABILITIES | 56,010.78 | 67,052.12 |
TOTAL LIABILITIES | 58,306.98 | 69,716.63 |
TOTAL EQUITY AND LIABILITIES | 51,989.17 | 72,266.32 |
DIVIDEND HISTORY
Particulars | 2020 | 2019 | 2018 |
Dividend (final + interim) (In Rs.) | Nil | Nil | 0.48 |
Retained Earnings (Consolidated) (In Rs. Lakhs) | -45,526.57 | -41,214.54 | -17,296.63 |
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company 32.68% from Rs. 9,190.83 lakhs in FY 2019 to Rs. 6,187.19 lakhs in FY 2020.
As there was no production and dispatch of Iron Ore and Manganese Ore during the year FY 2020, there was no operating income earned by OMDC (Orissa Minerals Development Company Limited) during this year and the main earning was interest from the term deposits. All mining leases of OMDC (Orissa Minerals Development Company Limited) have expired. On renewal of mining leases of OMDC (Orissa Minerals Development Company Limited), it is expected that the production and sale of OMDC (Orissa Minerals Development Company Limited) will increase substantially and Eastern Investments Limited may earn a dividend of a substantial amount.
Total Income of The Bisra Stone Lime Company Limited (BSLC)in FY 2020 wasRs.4,348.08 lakhs against Rs. 3,981.54 lakhs in FY 2019.The loss of the Company decreased to Rs. 1,027.56 lakhs in FY 2020 against Rs. 2,802.13 lakhs in FY 2019.
EBITDA of the company improved from the loss of Rs. 64,932.48 lakhs in FY 2019to a loss of Rs. 4,521.35 lakhs in FY 2020.
As the total borrowings of the company increased by 152% from Rs. 12,300.93 lakhs as of 31st March 2019 to Rs. 31,000 lakhs as of 31st March 2020, the company’s Finance Cost has increased by 401.6% from Rs. 428.15 lakhs in FY 2019 to Rs. 2,145.27 lakhs in FY 2020.
Net Loss of the company improved from a loss of Rs. 47,896.96 lakhs in FY 2019 to a loss of Rs. 8,659.42 lakhs in FY 2020.
The Current Ratio of the company as of 31st March 2020 was 0.45. The company is facing financial liquidity issues.
Eastern Investments Limited has not given any dividends for FY 2020.
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