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×

eastern investments Limited

1,050.00
+ 4.48 %
Scrip Name
Eastern Investments
ISIN No.
INE684E01015
PAN No.
AABCE0830E
Face Value
10
No. of Outstanding Shares
1,444,387
Market Capitalization
151.66 Crore

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

Email: info.birdgroup@birdgroup.co.in

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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