1. Summary Information
|
|
|
Country |
|
|
Company Name |
SECURE METERS LIMITED |
Principal Name 1 |
Mr. Arvind
Singhal |
|
Status |
Good |
Principal Name 2 |
Mr. Salil Singhal |
|
|
|
Registration # |
17-029106 |
|
Street Address |
E- Class Pratap
Nagar, Industrial Area, |
||
|
Established Date |
22.04.1987 |
SIC Code |
-- |
|
Telephone# |
91-294-2492300 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-294-2492310 |
Business Style 2 |
Exporters |
|
Homepage |
http://www.securemeters.com |
Product Name 1 |
Secure Energy Metering systems Accuchecks for calibration of Energy
Meters, |
|
# of employees |
800 (Approximately) |
Product Name 2 |
Prepayment Meters, Test Benches |
|
Paid up capital |
Rs.590,471,070/- |
Product Name 3 |
An Software Solutions for online Monitoring |
|
Shareholders |
Foreign holdings - 0.71% Bodies corporate - 5.29% Directors or relatives
of Directors - 82.84% Other top fifty shareholders -
1.16% |
Banking |
State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
26 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A (64) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
|
Secure International Holdings Private Limited, |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
9,032,111,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
7,388,780,000 |
Net Profit |
332,825,000 |
|
Sales(Previous yr) |
5,866,857,000 |
Net Profit(Prev.yr) |
409,229,000 |
MIRA
INFORM REPORT
|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SECURE METERS LIMITED |
|
|
|
|
Registered
Office : |
E - Class Pratap
Nagar, Industrial Area, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
22.04.1987 |
|
|
|
|
Com. Reg. No.: |
17-029106 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.590.471
Millions (As on 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification No.] |
U74899RJ1987PLC029106 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHS00044C /
JDHS00332D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS8785M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Secure Energy Metering systems
Accuchecks for calibration of Energy Meters, Prepayment Meters, Test Benches
and an Software Solutions for online Monitoring. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 14000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track
record. The balance sheet of 2012 is not available with us. Eventhough the company has seen an increase in its sales turnover there
appear a dip in its net profitability during 2012. However, as per previous the financial position of the company seems
to be good. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A (Long Term Bank Facilities) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
28.01.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A2+ (Short Term Bank Facilities) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
28.01.2013 |
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
31-03-2012.
LOCATIONS
|
Registered Office : |
E- Class Pratap
Nagar, Industrial Area, |
|
Tel. No.: |
91-294-2492300/301/2492302/2492303/2492304/2492305 |
|
Fax No.: |
91-294-2492310 |
|
E-Mail : |
|
|
Website : |
http://www.securemeters.com |
|
|
|
|
Factory/Warehouse: |
‘E’ Class, Pratap
Nagar Industrial Area, Barotiwala Unit Bated Unit Village Bated,
off Haripur Unit Village Bated,
Near G 1, 466-467,
Meware Industrial Area, |
|
|
|
|
Overseas
Office: |
101, Upper Cross Street,
No. 08-07, People’s Park Centre, Singapore – 058357 |
|
|
|
|
Branches : |
Located At:-
v Sir Pherozeshah Mehta Road, Post Box No. 1345, Mumbai – 400001, Maharashtra, India
v 606-607, Silver Oaks, Opposite Arun Society, Near Paldi Bus Stand, Ahmedabad – 380007, Gujarat, India
v 134, Mittal Tower, ‘C’ Nariman Point, Mumbai – 400021, Maharashtra, India
v 20, C. V. Raman Road, Alwarpet, Chennai – 600018, Tamilnadu, India
v 127, Vedachalam Street, Vasudevan Nagar, Jafferkhanpet, Chennai – 600083, Tamilnadu, India
v 1, ‘E’ Neelamber, 28-B, Shakespeare Sarani, Kolkata – 700017, West Bengal, India
v Plot No. BH. Bayababa Math, Unit 9, Bhubaneshwar, Orissa, India
v B-10, Greenland Society, Opp Harinagar, Gotri Road, Vadodara, Gujarat, India
v No. 6, Marappa Road, Ulsoor, Bangalore, Karnataka, India
v Plot No. 31, Southern Railway Colony, Picket, Secunderabad, Andhra Pradesh, India
v Plot No. 11, Home No. 1010, Shaktinagar, Gupteswar, Jabalpur – 482008, Madhya Pradesh, India
v A-111/201, B, Kamal Apartment (2), Power House Road, Bani Park, Jaipur – 302001, Rajasthan, India
v Springdale School Complex, Manik Nagar, R. G. Baruah Road, P.O. Japorigog, Guwahati – 781005, Assam, India
v TC No. 3/2187, ‘Sulatha’, 1st Floor, LIC Lane, Patton, Thiruvananthapuram – 695004, Kerala, India
v Pesticides India, Chandola Talao, Near Kashiram Textiles, N.H. 8, Post Narol, Ahmedabad – 382405, Gujarat, India
v 85, Seema Nagar 2, Palanpur Patia, Rander Road, Surat, Gujarat, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Salil Singhal |
|
Designation : |
Director |
|
Address : |
Singhal Farm
House, Rajokri, New Delhi-110038, |
|
Date of Birth/Age : |
21.08.1946 |
|
Date of Appointment : |
29.12.1994 |
|
DIN No.: |
00006629 |
|
|
|
|
Name : |
Mr. Arvind
Singhal |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
29.11.1947 |
|
Qualification : |
M. Com |
|
Experience : |
30 Years |
|
Date of Appointment : |
21.09.1999 |
|
DIN No.: |
00092425 |
|
|
|
|
Name : |
Mr. Girdhar Gopal
Agrawal |
|
Designation : |
Director
(Fatehpura, |
|
Address : |
Govindam, 6, Bhan
Bagh, New Fatehpura, Udaipur-313001, Rajasthan |
|
Date of Birth/Age : |
25.11.1933 |
|
Date of Appointment : |
22.04.1987 |
|
DIN No.: |
00076273 |
|
|
|
|
Name : |
Mr. Pradyumna
Natvarlal Shah |
|
Designation : |
Director (Mumbai,
|
|
Address : |
Shantiniketan, |
|
Date of Birth/Age : |
01.01.1929 |
|
Date of Appointment : |
18.08.1997 |
|
DIN No.: |
00096793 |
|
|
|
|
Name : |
Mr. Sanjaya
Singhal |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
22.01.1955 |
|
Qualification : |
B. Sc. |
|
Date of Appointment : |
01.07.2002 |
|
DIN No.: |
00109705 |
|
|
|
|
Name : |
Mr. Dilip
Dwarkadas Udeshi |
|
Designation : |
Director (Mumbai, |
|
Address : |
501, Shanti
Apartments, 98, |
|
Date of
Birth/Age : |
28.01.1936 |
|
Date of
Appointment : |
28.03.1995 |
|
DIN No.: |
00051479 |
|
|
|
|
Name : |
Mr. Bhagwat Singh
Babel |
|
Designation : |
Managing Director |
|
Address : |
221, Ameya Behind
Sagar, Darshan Apartment, Deval Udaipur- 313001, |
|
Date of
Birth/Age : |
24.07.1953 |
|
Date of
Appointment : |
01.04.2007 |
|
DIN No.: |
01476935 |
KEY EXECUTIVES
|
Name : |
Mr. Hemendra Pandwal |
|
Designation : |
Company Secretary |
|
Address : |
Chotti Maheshwari
Syreet,Dhann Mandi, |
|
Date of Birth/Age : |
26.03.1961 |
|
Date of Appointment : |
31.05.1999 |
|
Pan No.: |
ACZPP5645H |
MAJOR SHAREHOLDERS
As on 30.09.2011
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
Girdhar Gopal Agarwal |
|
50 |
|
Suket Singhal |
|
111413 |
|
Ananya Singhal |
|
117710 |
|
Manali Singhal |
|
50708 |
|
Sanjana Singhal (Nominee of Hycron |
|
50000 |
|
Nandita Singhal (Nominee of Hycron |
|
387142 |
|
Nandita Singhal |
|
199266 |
|
Nandita Singhal |
|
9600 |
|
Sanjay Singhal |
|
145632 |
|
Ananya Singhal |
|
303237 |
|
Suket Singhal |
|
305417 |
|
Suket Singhal |
|
3777 |
|
Salil Arivind and Family Trust |
|
33527 |
|
Sanjaya Singhal |
|
657203 |
|
Nandita Singhal |
|
437054 |
|
Sanjay Singhal |
|
75000 |
|
Sanjaya Singhal |
|
799899 |
|
The Entity Group |
|
231962 |
|
Firblog Holdings Limited, |
|
60000 |
|
Mecron 1 Incorporated, |
|
410040 |
|
TOTAL |
|
4388637 |
|
Names of Shareholders (Preferences Share) |
|
No. of Shares |
|
Suket Singhal |
|
400000 |
|
Ananya Singhal |
|
450000 |
|
Sanjay Singhal (Nominee of Hycron |
|
352000 |
|
Nandita Singhal (Nominee of Hycron |
|
100000 |
|
Nandita Singhal |
|
600000 |
|
Sanjay Singhal (HUF) |
|
245936 |
|
Ananya Singhal |
|
380652 |
|
Suket Singhal |
|
402422 |
|
Nandita Singhal |
|
570791 |
|
Sanjay Singhal |
|
442000 |
|
Sanjay Singhal |
|
500000 |
|
Sanjay Singal (Nominee of Hytcron India|) |
|
240999 |
|
Nandita Singhal (Nominee of Hytcron India|) |
|
781047 |
|
TOTAL |
|
5465847 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
10.71 |
|
Bodies corporate |
5.29 |
|
Directors or relatives of Directors |
82.84 |
|
Other top fifty shareholders |
1.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Secure Energy Metering systems
Accuchecks for calibration of Energy Meters, Prepayment Meters, Test Benches
and an Software Solutions for online Monitoring. |
||||||
|
|
|
||||||
|
Products : |
· Flexible System for Light Industrial, Commercial and Domestic Metering Applications · Single Phase Electricity Dispenser with Remote Keypad and Display for Domestic Application · High Accuracy Metering for Commercial and Industrial Applications. · Panel Instrument for Industry and Commerce. · Maximum Demand Controller to optimally utilise sanctioned loads
Generic Name of Principal Product/Service of the company are :-
|
GENERAL INFORMATION
|
No. of Employees : |
800 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, SME Branch, Ridhi Sidhi Complex, 4-C Madhuban, Udaipur - 313003, Rajasthan, India · IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · IDBI Bank Limited, D-24, Durlabh Niwas , Prithviraj Road, C-Scheme, Jaipur - 302001, Rajasthan, India · ICICI Bank Limited, JMC House , Opposite , Parimal Garden , Ambawadi , Ahmedabad - 380006, Gujarat, India · Axis Bank Limited, 222/21, Saheli Marg, Udaipur - 313001, Rajasthan, India · State Bank of India, Commercial Branch, Madhuban, Udaipur - 313001, Rajasthan, India · Kotak Mahindra Bank Limited, 7th Floor, Ambadeep Building, Kasturba Gandhi Marg, New Delhi - 110001, Delhi, India · State Bank Of Bikaner and Jaipur, Chetak Circle, Udaipur - 313001, Rajasthan, India · Punjab National Bank, Chetak Circle, Udaipur - 313001, Rajasthan, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
Member Secretary Single Window Clearance Agency, Department of Industries, Baddi District Solan, Solan - 178101, Himachal Pradesh, India |
|
|
|
|
Auditors : |
|
|
Name : |
Chandabhoy and
Jassobhoy Chartered
Accountants |
|
Address : |
605-607, Silver Oaks,
Near Mahalaxmi Char Rasta, Raldi, Ahmedabad – 380 007, |
|
Tel. No.: |
91-79-26586063/26586069 |
|
Mobile No.: |
91-9824256190 /
9824799760 |
|
Fax No.: |
91-79-26586063 |
|
E-Mail : |
|
|
PAN No.: |
AABFC0696F |
|
|
|
|
Associates : |
· PI Industries Limited ·
Hycron · Hycron Electronics · Wolkem India Limited ·
Fimakem India Limited |
|
|
|
|
Common Controlled
Entities: |
· Arvind and Sanjaya Family Trust · Shivani Family Benefit Trust · Sanjaya Singhal (HUF) · The Entity Group Trust |
|
|
|
|
Subsidiaries : |
·
Secure International Holdings Private Limited,
· Secure Meters Singapore Pte Limited · Singapore;Secure Meters (UK) Limited, UK · Horstmann Group Limited, UK · Advanced Energy · Monitoring Systems Limited, UK · Entity Holdings Limited, UK · Alpha and Advent Investment Limited ·
Secure Energy Services Limited, ·
Secure Australasia Private Limited, ·
· PRI Financial Solutions Limited · Polymeters Response International Limited · Polymeters International Limited · Polymeters Limited · Entity Metering Systems Limited · Response Company Limited · Utilita Group Limited · Utilita Technology Limited (All are Subsidiaries of Secure Meters (UK) Limited, UK) · Utilita Electricity Limited · Utilita Gas Limited · Utilita Telecom Limited · Planet points Limited · Winchester Meter Operations Limited · Winchester Gas Distribution Limited · Utilita Services Limited (All are subsidiaries of Utilita Group Limited) ·
Power Investment and Trading Limited , ·
CEWE ·
CEWE Instrument Trading AB, ·
CEWE Instruments Limited, ·
Elegant Metering Solutions Limited, ·
Horstmann Controls Limited, ·
Yatesmeter Limited (Subsidiary of Advanced
Energy Monitoring Systems Limited, |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
7500000 |
Preferences Shares |
Rs.100/- each |
Rs.750.000 Millions |
|
|
TOTAL |
|
Rs.900.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4388637 |
Equity Shares |
Rs.10/- each |
Rs.43.886
Millions |
|
5465847 |
Preferences Shares |
Rs.100/- each |
Rs.546.585
Millions |
|
|
TOTAL |
|
Rs.590.471 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
590.471 |
590.471 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2970.700 |
2650.069 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3561.171 |
3240.540 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2831.279 |
2789.195 |
|
|
2] Unsecured Loans |
|
470.568 |
305.283 |
|
|
TOTAL BORROWING |
|
3301.847 |
3094.478 |
|
|
DEFERRED TAX LIABILITIES |
|
43.809 |
63.197 |
|
|
|
|
|
|
|
|
TOTAL |
|
6906.827 |
6398.215 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1372.837 |
1502.122 |
|
|
Capital work-in-progress |
|
0.000 |
0.669 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1737.686 |
1737.687 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1006.398
|
895.107 |
|
|
Sundry Debtors |
|
3370.694
|
2456.465 |
|
|
Cash & Bank Balances |
|
320.866
|
165.193 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
1223.630
|
1125.314 |
|
Total
Current Assets |
|
5921.588
|
4642.079 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1404.040
|
965.530 |
|
|
Other Current Liabilities |
|
422.762
|
365.145 |
|
|
Provisions |
|
298.482
|
153.667 |
|
Total
Current Liabilities |
|
2125.284
|
1484.342 |
|
|
Net Current Assets |
|
3796.304
|
3157.737 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
6906.827 |
6398.215 |
|
NOTE: Balance sheet for the year 2012 is not
available, only profit and loss account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7388.780 |
5866.857 |
6661.975 |
|
|
|
Other Income |
242.465 |
121.864 |
130.899 |
|
|
|
TOTAL (A) |
7631.245 |
5988.721 |
6792.874 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4629.958 |
-- |
-- |
|
|
|
Raw Material Consumed |
-- |
3714.765 |
4339.237 |
|
|
|
Purchases of stock-in-trade |
264.138 |
-- |
-- |
|
|
|
Manufacturing Service Cost |
-- |
106.377 |
172.338 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(45.297) |
-- |
-- |
|
|
|
Employee Related Cost |
-- |
567.176 |
853.234 |
|
|
|
Employee benefit expense |
845.528 |
-- |
-- |
|
|
|
Administrative and Other Expenses |
-- |
569.002 |
579.695 |
|
|
|
Other expenses |
892.973 |
-- |
-- |
|
|
|
Research Development Expenditure |
-- |
39.585 |
142.405 |
|
|
|
Exceptional Income |
-- |
0.201 |
(6.620) |
|
|
|
Prior Period Expenses |
-- |
0.314 |
0.307 |
|
|
|
TOTAL (B) |
6587.300 |
4997.420 |
6080.596 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1043.945 |
991.301 |
712.278 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
488.063 |
205.877 |
381.642 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
555.882 |
785.424 |
330.636 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
225.159 |
260.539 |
300.143 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
330.723 |
524.885 |
30.493 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.102) |
115.656 |
(143.837) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
332.825 |
409.229 |
174.330 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1162.427 |
901.796 |
802.188 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
148.598 |
74.722 |
|
|
BALANCE CARRIED TO
THE B/S |
NA |
1162.427 |
901.796 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
2391.079 |
2290.643 |
|
|
|
Deemed Goods |
|
0.000 |
18.598 |
|
|
TOTAL EARNINGS |
NA |
2391.079 |
2309.241 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
NA |
1987.205 |
2977.825 |
|
|
|
Capital Goods |
|
18.281 |
8.662 |
|
|
TOTAL IMPORTS |
NA |
2005.486 |
2986.487 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.80 |
86.00 |
30.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.36
|
6.83
|
2.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.48
|
8.95
|
0.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
7.20
|
0.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.15
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA
|
0.93
|
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.79
|
3.13 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN:
|
Particulars |
As
on 31.03.2011 (Rs.
in Millions) |
As
on 31.03.2010 (Rs.
in Millions) |
|
Term Loan Bank |
374.668 |
299.872 |
|
Loans from Director |
50.000 |
1.000 |
|
Loans from Related |
45.900 |
4.411 |
|
Total |
470.568 |
305.283 |
PERFORMANCE
HIGHLIGHTS
FINANCIALS
The new integrated Enterprise Resource Planning system, which went live in January 2010 is now stabilized and working to the needs of company. From this year onwards, the company will see the benefits from the new system. They wish to place on record the efforts put in by the TICK team to make the new system successful.
The turnover for the 9 months period ending 31 st March 2011 was Rs.5866.860 million with a Profit before Tax (PBT) of Rs.525.400 million as compared to Rs.6661.980 million and PBT of Rs.24.180 million during the 15 months period ends 30th June, 2010. On an annualized basis, the turnover and profit before tax represents a growth of 47% & 3521% respectively over the previous year.
EXPORTS
The company achieved an export turnover of Rs.2391.08 million during the 9 months period ending 31st March, 2011, (Rs.2290.64 in 2009-10) which is a 74% annualized growth, reflecting the successful implementation of their strategy to grow in export markets. The impressive export performance is the result of investments made in developing Smart Meters in the last two years. They fully expect to maintain the export growth in sales overseas during the current year as well.
The Secure brand launch overseas in previous year is well received at the market place.
SUBSIDIARY COMPANIES
As required under Section 212 of the Companies Act 1956, the statement of audited accounts, along with the Report of the Board of Directors relating to the company’s subsidiaries for the period ending 31st March 2011 is annexed. However, the brief details of the subsidiaries are as under:-
Secure International Holdings Private Limited), (SHLS)
SHLS, (a wholly owned subsidiary) achieved an income of S$ 0.36 million with PBT of S$ (0.006) million during the period ended 31st March, 2011.
Secure Meters Singapore Private Limited (SMLS)
SMLS,
Secure Meters (
SMLU (a wholly owned subsidiary company of SHLS) achieved on consolidated level a turnover of 18.020 million during the 9 months period ended 31st March, 2011, as against 27 million during the 15 months period ended 30th June, 2010. The corresponding profit was 0.09 million and (2.55) million respectively.
SMLU with the roll out of smart meter program will see increased levels of business activities in the coming years. The Government has already announced a timetable for the smart metering program and sales are likely to commence as per the timetable unless there are further regulatory delays. They are keeping a keen eye on the developments and remain conscious of the trading losses but view these as necessary for the future.
Their preparedness to meet the huge expected demand in the smart metering area augers well for future.
Horstmann Group Limited,
HGL, (a wholly owned subsidiary company of SHLS) achieved a turnover of 9.21 million during the 9 months period ended 31st March, 2011, as against 12.63 million during the 15 months period ended 30th June, 2010. The corresponding PBT was (0.31) million and (1.13) million respectively.
Advanced Energy Monitoring Systems,
AEMS (a wholly owned subsidiary company of SHLS) achieved a turnover of 0.61 million during the 9 months period ended 31st March, 2011, as against 0.93 million during the 15 months period ended 30th June, 2010. The corresponding PBT was (0.25) million and (0.57) million respectively.
Entity Holdings Limited,
EHL, (a wholly owned subsidiary company of SHLS) achieved a turnover of NIL as on 31.03.2011, as against NIL during the previous year the corresponding PBT was (0.1) million & (0.16) million respectively.
Secure Energy Services Limited,
SESL, (a wholly owned subsidiary company of SHLS) achieved a turnover of INR 180.66 million during the 9 months period ended 31st March, 2011, as against INR 447.45 million during the 15 months period ended 30th June, 2010. The corresponding PBT was INR (24.85) million & INR 64.69 million respectively.
CEWE
CEWE, , (a wholly owned subsidiary company of ) achieved a turn over of SEK 63.22 million during the 9 months period 31st March, 2011, as against SEK 97.15 million during the 15 months period ended 30th June, 2010. The corresponding PBT was SEK 2.66 million and SEK (0.13) million respectively.
Iprobe (a wholly owned subsidiary company of SHLS) had NIL turn over (effectively this is now a dormant company and trading is carried out by CEWE Instrument) during the 9 months period ended 31 st March, 2011, as against SEK NIL million during the 15 months period ended 30th June, 2010. The corresponding PBT was SEK (3.17) million and SEK (2.47) million respectively.
Secure Australasia Pty Limited, (SMLA)
SMLA (a wholly owned subsidiary company of SHLS) achieved a turnover of 36.47 million during the 9 months period ended 31st March, 2011, as against 57.93 million during the 15 months period ended 30 th June, 2010. The corresponding PBT was1.50 million & A$ 1.52 million respectively.
THE FUTURE
They have so far been successful with their strategy to grow
in overseas markets. Their focus on Smart Meters / AMI has already given us
good results in
CONTINGENT LIABILITY
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Bank Guarantees |
1807.746 |
1670.298 |
|
Letters of Credit |
400.689 |
160.428 |
|
Claims not acknowledged by the Company |
106.570 |
0.000 |
|
Corporate Guarantees/Commitments given on behalf of Others |
455.600 |
368.868 |
|
Estimated amount of contracts remaining to be executed on capital
account and not provide for |
0.805 |
11.637 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10410762 |
25/03/2013 * |
400,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maha |
B71548945 |
|
2 |
10262489 |
25/03/2013 * |
762,500,000.00 |
STATE BANK OF BIKANER & JAIPUR |
CHETAK CIRCLE, UDAIPUIR, UDAIPUR, Rajasthan - 313 |
B73118390 |
|
3 |
10197279 |
23/04/2013 * |
40,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, 4-C, RIDHI SIDHI COMPLEX, MADHUBAN, U |
B74023839 |
|
4 |
80003970 |
25/03/2013 * |
7,100,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, RIDHI SIDHI COMPLEX, 4-C MADHUBAN, UD |
B74261793 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Buildings
·
R and D
building
·
Plant
and machinery
·
R and D
equipment
·
Office
equipment
·
Furniture
and fixtures
·
Vehicles
AS PER WEBSITE DETAILS:
PRESS RELEASES:
SECURE METERS WINS
PRESTIGIOUS SMART METERING AWARD
24 November ,2011
Secure Meters Limited was adjudged the winner in the “4th India Power Award 2011” under the “Smart Meters and Equipments" category.
In the glittering award ceremony held on 24.11.2011 at New Delhi during the
conference on Green Power VII (for world development). The award was presented
to Mr B S Babel from the Chief Guest, Dr. C. Rangarajan, Chairman, Economic
Advisory Council to the Prime Minister.
Secure Meters has exported more than half a million smart meters and is a
preferred vendor to many utilities across the world. It is a leading player in
the energy metering market in India and is a leading solution provider to
utilities for products and services.
India Power Awards, organised by Council of Power Utilities, New Delhi, is a
platform for bringing together organisations associated with the power sector,
highlighting and recognising their contribution towards
the development of power sector in India by adopting innovative best
practices/experiences in energy sector world over.
HYCRON ELECTRONICS :
WINNER OF COVETED NWQA 2010
28 February ,2011
This is an amazing achievement. Hycron Electronics has done it on again. We are the winners of the coveted North West QualTech Award 2010 in small business category for the 5th time in row. The award is even more significant as 3 out of 4 presenters were operators. With this Hycron Electronics has been branded a “Six Sigma company”.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.94.99 |
|
Euro |
1 |
Rs.81.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.