MIRA
INFORM REPORT
|
Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
IMP POWERS LIMITED (w.e.f. January 2005) |
|
|
|
|
Formerly Known
As : |
IMP POWER LIMITED INDUSTRIAL METERS LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 263/3/2/2, Sayli Village, Umar Kuin Road, Silvassa -
396230, (U.T.) Dadra and Nagar Haveli |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.03.1961 |
|
|
|
|
Com. Reg. No.: |
54-000232 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.116.975 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300DN1961PLC000232 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI06707B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI0999M |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturing of an entire range of transformers
and Reactors. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3963000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management has considered a nine months financial year ended 31st
March, 2013. The company is performing well. However, the consistently high working
capital utilization levels may deteriorate the liquidity position. The ratings also take into consideration that the subject has been
under corporate debt restructuring plan until previous year 2011-12. Further
the cell has approved the exit of the company from the restructuring plan
pursuant to term and conditions of the L D R Cell. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of strong and established operational track record, the subject
can be considered 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
October 21, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A3+ |
|
Rating Explanation |
Moderate degree of safety and High credit
risk. |
|
Date |
October 21, 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 / Factory 1 : |
Survey No. 263/3/2/2, Sayli Village, Umar Kuin Road, Silvassa -
396230, (U.T.) Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-2368-02368 / 42255 / 02368 / 4320/2/260-2630810/11 |
|
Fax No.: |
91-2368-42711/260-2642711 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
35/C, Popular |
|
Tel. No.: |
91-22-23539180-85 |
|
Fax No.: |
91-22-23539180-87 |
|
|
|
|
Factory 2 : |
85,Government Industrial Estate, Kandivli (West), Mumbai –
400 067, |
|
Tel. No.: |
91-22-28686331 / 28686333 / 28683332 |
|
Fax No.: |
91-22-28688977 |
|
E-Mail : |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Ramniwas R. Dhoot
|
|
Designation : |
Chairman |
|
Address : |
Shriniketan, 2nd Floor, 86-A, |
|
Date of Birth/Age : |
5th March, 1941 |
|
Date of Appointment : |
16th August, 1962 |
|
|
|
|
Name : |
Mr. Ajay R. Dhoot |
|
Designation : |
Managing Director |
|
Address : |
Shriniketan, 2nd Floor, 86-A, |
|
Date of Birth/Age : |
9th March, 1964 |
|
Date of Appointment : |
14th May, 1982 |
|
|
|
|
Name : |
Mr. Aditya R. Dhoot |
|
Designation : |
Joint Managing Director |
|
Address : |
Shriniketan, 2nd
Floor, 86-A, |
|
|
|
|
Name : |
Mr. R T Rajguroo |
|
Designation : |
Director |
|
Date of Birth/Age : |
27th June, 1944 |
|
Qualification : |
B.Com., DFM, CAIIB, LL.B., FCS |
|
Date of Appointment : |
30th July, 2005 |
|
|
|
|
Name : |
Mr. Prashant J Pandit |
|
Designation : |
Director |
|
Date of Birth/Age : |
10th February, 1955 |
|
Qualification : |
B.Com. LL.B. |
|
Date of Appointment : |
30th July, 2005 |
|
|
|
|
Name : |
Mr. Jayant N Godbole |
|
Designation : |
Additional Director |
|
|
|
|
Name : |
Mr. Prakash Bagla |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajendra Mimani |
|
Designation : |
Director – Marketing |
|
|
|
|
Name : |
Mr. Siby |
|
Designation : |
Additional Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Category of
Shareholder |
Total
No. of Shares |
%
of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1284402 |
15.79 |
|
|
2863801 |
35.20 |
|
|
4148203 |
50.98 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
4148203 |
50.98 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
344206 |
4.23 |
|
|
344206 |
4.23 |
|
|
|
|
|
|
1811765 |
22.27 |
|
|
|
|
|
|
1484023 |
18.24 |
|
|
304347 |
3.74 |
|
|
44019 |
0.54 |
|
|
20374 |
0.25 |
|
|
23645 |
0.29 |
|
|
3644154 |
44.79 |
|
Total Public shareholding (B) |
3988360 |
49.02 |
|
Total (A)+(B) |
8136563 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
8136563 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of an entire range of
transformers and Reactors. |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of Hyderabad ·
State Bank of India ·
Bank of India ·
The Karnataka Bank Limited ·
IDBI Bank Limited ·
Axis Bank Limited |
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Facilities : |
NOTE: LONG TERM BORROWINGS 1.
Term loan and Bonds from Financial Institutions
and Banks are secured by way of first charge on all Fixed Assets of the
Company both present and future on pari passu basis with other member bank of
consortium and Second charge on all Current Assets of the company both
present and future on pari-passu basis with other member bank of consortium
and personal guarantee of promoter Directors. 2.
Non Convertible Redeemable Bonds including
interest will be redeemed from 1st April 2013 to 31st March 2016 in twelve
quarterly equal installment. Out of which Rs. 18.552 millions will be
redeemed in the next 12 months considered under current liabilities. 3.
Vehicle Loan are secured by hypothecation of
vehicles. SHORT TERM
BORROWINGS 1.
Working Capital loan from Banks are secured
against first charge on all current assets of the company, present and
future, on pari passu basis with banks in the consortium and Second charge on
all Fixed Assets of the company, both present and future, on pari-passu basis
with member banks of consortium. Also collateral security of equitable
Mortgage of residential property in the name of Directors situated at Ground
floor, 86A,Shriniketan, Netaji Subhhash Marg, Mumbai on pari passu basis with
the member of banks of Consortium (Except Axis Bank Limited and personal
guarantee of promoter Directors. |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Batliboi and Purohit Chartered Accountants |
|
Address : |
National Insurance
Building, 204, Dadabhoy Naoroji Road, Fort, Mumbai – 400001, Maharashtra,
India |
|
|
|
|
Subsidiaries : |
Ř IMP Energy
Limited |
|
|
|
|
Associates |
Ř
Raga Organics Private Limited Ř
Advance Transformers and Equipments Private
Limited Ř
Shree Kishoriju Trading and Investments Private
Limited Ř
Shree Rasbihari Electricals Private Limited Ř
Shree and Sons. Ř
Universal Transformers Private Limited Ř
Shree Rasbihari Trading and Investments Private
Limited Ř
Raj Exports Private Limited Ř Mangalam Laboratories
Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27670000 |
Equity Shares |
Rs.10/- each |
Rs.276.700 Millions |
|
6330000 |
Preference shares |
Rs.10/- each |
Rs.63.300 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.340.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8140963 |
Equity Shares |
Rs.10/- each |
Rs.81.410 Millions |
|
2450000 |
4% Cumulative preference shares |
Rs.10/- each |
Rs.24.500 Millions |
|
1108738 |
1% Preference shares |
Rs.10/- each |
Rs.11.087 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.116.997
Millions |
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8136563 |
Equity Shares |
Rs.10/- each |
Rs.81.366 Millions |
|
2450000 |
4% Cumulative preference shares |
Rs.10/- each |
Rs.24.500 Millions |
|
1108738 |
1% Preference shares |
Rs.10/- each |
Rs.11.087 Millions |
|
|
Shares Forfeited |
|
Rs.0.022 Million |
|
|
|
|
|
|
|
Total |
|
Rs.116.975
Millions |
Note:-
1.
Equity Shares includes 11,27,000 shares issued as
fully paid up Bonus Shares during 1994-95 by Capitalisation of Revaluation
Reserve.
2.
4% Redeemable Preference Shares along with dividend
will be redeemed from 1st April 2013 to 31st March 2016 in twelve quarterly
equal installments.
3.
Corporate Debt Restructuring (CDR CELL) has
approved the recompense amount towards interest liabilities amounting to Rs.
44.350 millions for the Company to exit from CDR scheme in the previous
financial year. Pursuant to terms and conditions of the CDR cell, 25% of the
total amount has been paid by the company in cash and for balance 75% ,the
Company has issued 1% Cumulative Redeemable Preference Shares, which are
redeemable in 3 half yearly equal installments beginning from April 2012 To
April 2013.
4.
The Authorised Share Capital was reclassified and
subsequently clause V substituted vide Ordinary Resolution passed by the
Shareholders of the company at their Extra ordinary General Meeting held on
Monday,19th September 2011 at the Registered Office of the Company.
After 30.09.2013
Authorised Capital : Rs. 340.000 Millions
Issued Subscribed & Paid-up Capital : Rs. 139.150
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 (9 Months) |
30.06.2012 (12 Months) |
30.06.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
116.975 |
128.062 |
105.888 |
|
(b) Reserves & Surplus |
873.846 |
857.493 |
801.992 |
|
(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) |
990.821 |
985.555 |
907.880 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
209.588 |
177.065 |
233.575 |
|
(b) Deferred tax liabilities (Net) |
43.096 |
45.757 |
36.474 |
|
(c) Other long term liabilities |
15.960 |
18.554 |
16.328 |
|
(d) long-term provisions |
7.964 |
7.204 |
10.561 |
|
Total Non-current Liabilities (3) |
276.608 |
248.580 |
296.938 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
680.204 |
619.413 |
399.848 |
|
(b) Trade payables |
654.211 |
427.260 |
289.317 |
|
(c) Other current
liabilities |
189.077 |
228.936 |
200.203 |
|
(d) Short-term provisions |
7.037 |
15.890 |
11.207 |
|
Total Current Liabilities (4) |
1530.529 |
1291.499 |
900.575 |
|
|
|
|
|
|
TOTAL |
2797.958 |
2525.634 |
2105.393 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
829.195 |
756.893 |
740.886 |
|
(ii) Intangible Assets |
0.131 |
0.151 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
1.000 |
1.000 |
0.00 |
|
(b) Non-current Investments |
0.422 |
0.422 |
0.101 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.598 |
57.882 |
48.474 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
871.346 |
816.348 |
789.461 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
635.800 |
448.122 |
591.201 |
|
(c) Trade receivables |
1180.792 |
1189.181 |
669.489 |
|
(d) Cash and cash
equivalents |
58.956 |
27.572 |
17.524 |
|
(e) Short-term loans and
advances |
48.375 |
43.536 |
36.350 |
|
(f) Other current assets |
2.689 |
0.875 |
1.368 |
|
Total Current Assets |
1926.612 |
1709.286 |
1315.932 |
|
|
|
|
|
|
TOTAL |
2797.958 |
2525.634 |
2105.393 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 (9 Months) |
30.06.2012 (12 Months) |
30.06.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2050.999 |
2822.427 |
2491.497 |
|
|
|
Other Income |
2.779 |
0.901 |
1.391 |
|
|
|
TOTAL |
2053.778 |
2823.328 |
2492.888 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1818.937 |
2038.847 |
1976.448 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(184.047) |
155.480 |
(49.051) |
|
|
|
Employee benefits expense |
82.239 |
101.602 |
91.403 |
|
|
|
Other expenses |
136.244 |
190.666 |
168.376 |
|
|
|
Exceptional items |
0.000 |
0.000 |
44.350 |
|
|
|
TOTAL |
1853.373 |
2486.595 |
2231.526 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
200.405 |
336.733 |
261.362 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
133.047 |
192.230 |
163.612 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.358 |
144.503 |
97.750 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
33.270 |
42.644 |
39.248 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
34.088 |
101.859 |
58.502 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.272 |
29.862 |
30.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
22.816 |
71.997 |
27.803 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
202.497 |
164.768 |
155.417 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim dividend |
-- |
-- |
-- |
|
|
|
Dividends
proposed to be distributed to equity shareholders (Rs. 0.50/- per share) |
4.068 |
12.205 |
8.136 |
|
|
|
Dividends proposed
to be distributed to preference shareholders (Rs. 0.40 /-per share) |
0.736 |
0.980 |
0.980 |
|
|
|
Tax on dividendc |
0.660 |
1.980 |
1.320 |
|
|
|
Transfer to 4% Preference Share Capital Redemption Reserve |
1.837 |
2.450 |
2.450 |
|
|
|
Transfer to 1% Preference Share Capital Redemption Reserve |
11.087 |
11.087 |
-- |
|
|
|
Transfer to Bonds Redemption Reserve |
4.174 |
5.566 |
5.566 |
|
|
|
Transfer General Reserve |
-- |
-- |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
202.751 |
202.497 |
164.768 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Travelling |
0.637 |
1.837 |
1.000 |
|
|
TOTAL EARNINGS |
0.637 |
1.837 |
1.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials including Spares |
54.797 |
40.121 |
6.577 |
|
|
TOTAL IMPORTS |
54.797 |
40.121 |
6.577 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.71 |
8.73 |
8.75 |
|
QUARTERLY RESULTS
|
Particulars |
|
30.06.2013 |
30.09.2013 |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
692.500 |
400.400 |
|
Total Expenditure |
|
631.100 |
394.900 |
|
PBIDT (Excl OI) |
|
61.400 |
5.500 |
|
Other Income |
|
0.000 |
0.000 |
|
Operating Profit |
|
61.400 |
5.500 |
|
Interest |
|
42.400 |
48.500 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
19.000 |
(43.000) |
|
Depreciation |
|
12.000 |
12.400 |
|
Profit Before Tax |
|
6.900 |
(55.400) |
|
Tax |
|
2.300 |
0.000 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
4.600 |
(55.400) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
4.600 |
(55.400) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 (9 Months) |
30.06.2012 (12 Months) |
30.06.2011 |
|
PAT / Total Income |
(%) |
1.11
|
2.55 |
1.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.66
|
3.61 |
2.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.22
|
4.03 |
2.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.10 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.90
|
0.81 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.32 |
1.46 |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF GUJARAT STAMP NUMBER NO. 1965 OF 2012 |
|||||||||||||||||||||||||
|
Status: PENDING CCIN No: 001087201201965 Last Listing Date: 03/10/2012 Coram: - ADDITIONAL REGISTRAR ( JUDICIAL) |
|||||||||||||||||||||||||
|
S.NO. |
Name of the
Petitioner |
Advocate On Record |
|||||||||||||||||||||||
|
1 |
COMMISSIONER |
MR GAURANG H BHATT for: null |
|||||||||||||||||||||||
|
S.NO. |
Name of the
Respondant |
Advocate On Record |
|||||||||||||||||||||||
|
1 |
IMP POWERS LIMITED |
|
|||||||||||||||||||||||
|
Presented On : 18.09.2012 Registered On : 18.09.2012 Bench Category : DIVISION BENCH District : VALSAD Case Originated From: THROUGH ADVOCATE Listed : 0 times Stage Name : OFFICE OBJECTION (FILING STAGE)
OFFICE OBJECTION
OTHER FORUMS
OFFICE DETAILS |
|||||||||||||||||||||||||
|
S. No |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
||||||||||||||||||||
|
1 |
18/09/2012 |
CERTIFIED COPY |
MR GAURANG H BHATT ADVOCATE |
4 |
- |
||||||||||||||||||||
|
2 |
18/09/2012 |
MEMO OF APPEAL/PETITION/SUIT |
MR GAURANG H BHATT ADVOCATE |
50 |
- |
||||||||||||||||||||
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (9 Months) |
30.06.2012 (12 Months) |
|
LONG TERM
BORROWINGS |
(Rs. In Millions) |
|
|
Loans and advances from related parties |
30.300 |
0.000 |
|
|
|
|
|
Total |
30.300 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(S |
|
1 |
10451389 |
16/09/2013 |
405,000,000.00 |
Axis Bank Limited |
Axis House, C-2, Wadia International Centre, Pan |
B85887024 |
|
2 |
10447142 |
28/08/2013 |
50,000,000.00 |
IDBI Bank Limited |
224 'A' Wing, 2nd Floor, Nariman Point,, Mumbai, |
B84073543 |
|
3 |
10446642 |
21/08/2013 |
521,400,000.00 |
State Bank of India |
Commercial Branch (Advances), N.G.N. Vaidhya Marg, Bank Street,
Horniman Circle, Fort, Mumbai, Ma |
B83815282 |
|
4 |
10447316 |
31/07/2013 |
5,275,000.00 |
KARNATAKA BANK LIMITED |
294-A, HAROON HOUSE, PERIN NARIMAN STREET, BEHIND RBI, FORT, MUMBAI,
Maharashtra - 400001, INDIA |
B84177971 |
|
5 |
10445619 |
26/07/2013 |
52,800,000.00 |
IDBI Bank Limited |
224 'A' Wing, 2nd Floor, Nariman point, Mumbai, |
B83346890 |
|
6 |
10423598 |
11/03/2013 |
665,344,000.00 |
STATE BANK OF HYDERABAD |
11-C, MITTAL TOWER, 210, 1ST FLOOR, NARIMAN POINT, MUMBAI, Maharashtra
- 400021, INDIA |
B74372608 |
|
7 |
10414573 |
05/03/2013 |
10,000,000.00 |
BANK OF INDIA |
Mumbai Mid-Corporate, Mezzanine Floor, 70/80, M. |
B71737126 |
|
8 |
10409858 |
04/02/2013 |
90,000,000.00 |
STATE BANK OF HYDERABAD |
11-C, MITTAL TOWER, 210, NARIMAN POINT, MUMBAI, |
B70031802 |
|
9 |
10352077 |
17/03/2012 |
80,600,000.00 |
IDBI Bank Ltd. |
224-A, MIttal Court, A Wing, Nariman Point, Mumbai, Maharashtra -
400021, INDIA |
B38341533 |
|
10 |
10353341 |
17/03/2012 |
575,000,000.00 |
STATE BANK OF HYDERABAD |
11-C, Mittal Tower, 210, 1st Floor, Nariman Point, Mumbai, Maharashtra
- 400021, INDIA |
B38823076 |
|
11 |
10335271 |
11/01/2012 |
350,000,000.00 |
Axis Bank Limited |
Axis House, Grd.Flr.,Bombay Dyeing Mills Compound, P. B. Marg, Worli,
Mumbai, Maharashtra - 400025, INDIA |
B31990625 |
|
12 |
10336364 |
10/01/2012 |
30,000,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE, 70/80, M.G. ROAD, BANK OF |
B32469744 |
|
13 |
10306949 |
09/08/2011 |
50,000,000.00 |
State bank of India |
Commercial Branch (Advances), N.G.N. Vaidya Marg, Horniman Circle, Fort, Mumbai, Maharashtra
- 400 |
B20856944 |
|
14 |
10302639 |
06/08/2011 |
20,000,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE, 70/80, M.G. ROAD,, BANK OF |
B18971135 |
|
15 |
10285678 |
06/04/2011 |
35,300,000.00 |
IDBI Bank Limited |
224-A, Mittal Court, A Wing, Nariman Point, Mumbai, Maharashtra -
400021, INDIA |
B12253639 |
|
16 |
10278215 |
17/03/2011 |
437,500,000.00 |
State Bank of Hyderabad |
11-C, Mittal Tower, 210, 1st Floor, Nariman Point, Mumbai, Maharashtra
- 400021, INDIA |
B09707530 |
|
17 |
10275567 |
10/02/2011 |
10,000,000.00 |
Bank of India |
MCBB, 70-80 M.G.Road, Fort, Mumbai, Maharashtra 400023, INDIA |
B08572133 |
|
18 |
10250695 |
01/11/2010 |
50,000,000.00 |
State Bank of Hyderabad |
11-C, Mittal Towers, 1st floor, Nariman Point, Mumbai, Maharashtra -
400021, INDIA |
A99381659 |
|
19 |
10228634 |
24/06/2010 |
25,000,000.00 |
BANK OF INDIA LIMITED |
MCBB, 70-80 M.G. Road, Fort, MUMBAI, Maharashtra - 400023, INDIA |
A89764344 |
|
20 |
10175805 |
14/09/2010 * |
100,000,000.00 |
State Bank of India |
Commercial branch, Horniman circle, N.G.N. Vaidya |
A97946727 |
|
21 |
10172343 |
14/09/2010 * |
50,000,000.00 |
BANK OF INDIA |
MCBB, 70-80, M.G ROAD,, FORT, MUMBAI, Maharashtra |
A98020092 |
|
22 |
10173178 |
14/07/2009 |
23,400,000.00 |
Bank of India |
MCBB,70-80, M.G.Road, Fort, Mumbai, Maharashtra - |
A68450493 |
|
23 |
10163790 |
18/06/2009 |
180,900,000.00 |
Karnataka Bank Ltd. |
Fort Branch, 294-A, Haroon House, Perin Nariman Street, Behind RBI,
Fort, Mumbai, Maharashtra - 400001, INDIA |
A64570716 |
|
24 |
10167413 |
14/09/2010 * |
100,000,000.00 |
State Bank of Hyderabad |
11-C, Mittal towers, Nariman point, Mumbai, Maha |
A97947170 |
|
25 |
10160707 |
11/05/2009 |
20,000,000.00 |
BANK OF INDIA |
MCBB,70-80, M.G.ROAD, FORT, MUMBAI, Maharashtra - 400023, INDIA |
A63092654 |
|
26 |
10161874 |
23/04/2009 |
6,600,000.00 |
SBI Commercial & International Bank Ltd |
Maker Chambers III, Nariman Point, Mumbai, Maharashtra - 400021, INDIA
|
A62230925 |
|
27 |
10148663 |
03/03/2009 |
82,900,000.00 |
IDBI BANK |
224, 'A' WING MITTAL COURT, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
A59238303 |
|
28 |
10100372 |
25/03/2008 |
78,100,000.00 |
STATE BANK OF SAURASHTRA |
COMMERCIAL BRANCH, GRESHAM HOUSE SIR, P.M .ROAD , FORT, MUMBAI, Maharashtra - 400001, INDIA |
A37249141 |
|
29 |
10100876 |
12/03/2008 |
297,500,000.00 |
STATEABKOFHYDERABAD |
11-C,Mittal Tower, 11-C/Mittal Tower,210, Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
A37737582 |
|
30 |
10063116 |
28/06/2007 |
790,000.00 |
Karnataka Bank Limited |
Haroon House, Perin Nariman Street, Fort, Mumbai, Maharashtra -
400001, INDIA |
A18765420 |
|
31 |
10039817 |
17/02/2007 |
26,300,000.00 |
State Bank of Saurashtra |
Commercial Branch, 1st Floor, 17/18A,, Nariman Bh |
A11798451 |
|
32 |
10090241 |
22/01/2007 |
7,000,000.00 |
State Bank of Hyderabad |
Mittal Towers, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
A12120788 |
|
33 |
10026375 |
28/11/2006 |
10,000,000.00 |
KARNATAKA BANK LTD. |
KARNATAKA BANK LIMITED,REGD. AND HEAD OFFICE, P.B .NO.599, MAHAVEERA
CIRCLE, KANKANADY,MANGALORE, Karnataka - 575002, INDIA |
A06505788 |
|
34 |
80061671 |
14/09/2010 * |
50,000,000.00 |
Stressed Assets Stabilisation Fund |
WTC Complex, 10th Floor, IDBI Towers, Cuffe Parade, Mumbai,
Maharashtra - 400005, INDIA |
B06888119 |
|
35 |
10020578 |
27/03/2006 |
88,533,000.00 |
POWER FINANCE CORPORATION LIMITED |
CHANDRALOK BUILDING36, JANPATH, NEW DELHI, Delhi - 110001, INDIA |
A02306025 |
|
36 |
80061420 |
14/09/2010 * |
50,000,000.00 |
STRESSED ASSETS STABILISATION FUND |
WTC COMPLEX,10th FLOOR, IDBI TOWERS, CUFFE PARADE, MUMBAI, Maharashtra
- 400005, INDIA |
B07733280 |
|
37 |
80061419 |
14/09/2010 * |
50,000,000.00 |
STRESSED ASSETS STABILISATION FUND |
WTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B06892442 |
|
38 |
90240389 |
24/08/2012 * |
2,300,000,000.00 |
STATE BANK OF HYDERABAD |
11-C, MITTAL TOWER,, NARIMAN POINT, MUMBAI, Maharashtra - 400021,
INDIA |
B59817429 |
* Date of charge modification
YEAR IN
RETROSPECT:
The Company has sustained
its growth level and its performance was encouraging when viewed against the
backdrop of the extremely challenging business context in which it was
achieved, namely, the continued economic slowdown, weakening of rupee against
the dollar leading to costlier imports, intense competition in the domestic
segment, delay in getting clearance and completion of projects, government’s
inability to meet the targeted power generation plans.
The Company
manufactured 5759 MVA in nine months period of the year and achieved a total income of Rs 2053.800
millions. Despite the higher production compared to last year, the revenue was
not in line with increase in production due to low realization per MVA. Profit
after Tax (PAT) stood at Rs. 22.800 millions, due to stiff competition on
account of over capacity in transformer industry in Indian Market.
The Company has
maintained its Leadership position in the 132 and 220 KW segment and it is
amongst the top 7 manufacturers in two segments.
The Company has
set up state-of-the-art manufacturing facility to manufacture transformers upto
400 KV class and has entered into the elite league of manufacturers of 400 KV
transformers in the country.
The Company has
started a separate repair division segment during the year, whereby it renders
repairing facilities for high class of transformers. Considering the wide
segment of customer base, repair division has huge potential as it successfully
executed orders from Haryana and Punjab electricity utilities.
ACHIEVEMENTS:
Subject has
successfully manufactured and dispatched 315 MVA, 400/220 KV Class Transformer
to MSETCL from its state-of-the-art manufacturing plant at Silvassa.
IMP’s in-house
testing facility is accredited by NABL i.e. National Accredited Board for
Testing and Calibration Laboratories which is an autonomous body under the
aegis of Department of Science and Technology, Government of India. This is the
highest accreditation for testing in the country.”
The Company has
secured single largest prestigious order worth Rs. 1010.000 millions from
RRVPNL. The Company was the first transformer manufacturing Company in India to
obtain ISO 9001:2008 certification and is also ISO 14001:2004 certified.
FUTURE GROWTH
PROSPECTS:
As per the XII
five year plans, 85,000 MW capacity addition in power generation is planned by
the end of the year 2017. Consequently huge requirement in the power
transformation capacity would be required coupled with significant replacement
demand of existing transformers as good population of the existing transformers
has completed 20 25 years in field. The Company is well poised to clinch the
opportunity with high production capacity and state-of the-art manufacturing
plant to produce upto 400 kV class transformers. The Company has made a
paradigm shift of focus to SEB’s, from EPC and is now an approved vendor with
all SEBs, thereby actively bidding for major tenders and relying on its
established credentials to win tenders.
In a bid to meet the
high export demand, wherein the exports for Electrical Equipments are less than
1% of the global trade for Electrical Equipment, the Company’s major thrust is
on exports by increasing its market presence across in countries like Africa
and the Middle East, tying up with several International EPC players by
designing and manufacturing quality products, improving productivity,
maintaining costs and meeting global standards through efficient performance.
The Company’s
relentless focus on quality, innovation and differentiation backed by deep
consumer insights, world-class R and D and an efficient and responsive
marketing chain will further strengthen its leadership position in the Indian
and International transformer industry.
SUBSIDIARY
COMPANY:
IMP Energy Limited
(IEL), a Subsidiary Company of IMP Powers Limited, incorporated on 3rd February
2012, is acting as a Project Management Consultancy (P.M.C.) with a clear
vision of providing excellence and perfection to explore emerging opportunities
in mini and small Hydro Power Projects up to 25 MW.
Primary focus of
IEL has been Kargil, Leh Ladak in the region of J and K which after extensive
research shows a completely untapped potential. It also operates in the niche
area of renewable energy sector and has a great future ahead as India moves on
from the traditional power sources available.
The Directors have
pleasure to announce that, in a year IEL has an existing unexecuted order book
of Rs. 710.000 millions as on date from Ladakh Renewable Energy Development
Agency (LREDA) and Kargil Renewable Energy Development Agency (KREDA)
MANAGEMENT DISCUSSION AND ANALYSIS
ECONOMIC OVERVIEW:
Global economic
scenario remained turbulent in the year . The uncertainties continued to remain
in the current year as well. The India’s GDP growth rate decelerated for the
second year in succession. It was 5% in 2012-13 as against 6.2% in 2011-12, the
lowest in the last decade. The growth in the Index of Industrial Production
(IIP) also witnessed a slowdown to 0.9% largely due to infrastructure and input
constraints.
The government is
trying to encourage growth by hinting on at industrialists to increase
investments. However, the current state of uncertainties, dull stock market,
the investment climate in the country is restricting corporates from making
investments in India. The Reserve Bank of India’s recent macro-economic outlook
acknowledges that growth has been hobbled by structural bottlenecks on the
supply side. Thus impetus on the next phase of reforms by Government is
significant and it will be essential that such reforms are effectively
implemented to overcome the challenges that Indian economy is currently
undergoing.
TRANSFORMER
INDUSTRY IN INDIA:
Transformer forms
an integral part of the electrical industry which constitute almost 12% of the
electrical equipment industry. As they play a critical role in setting up power
grids, transformers are indispensible for any country’s electrical sector.
The Indian
transformer industry is more than five decades old, hence mature. Domestic
manufacturers have developed capabilities to manufacture all types of equipment
to meet the country’s demand for transformers upto 800 kV and going upto 1200
kV. The industry enjoys a good reputation in terms of quality price and delivery
in the domestic as well as overseas markets. The growth of transformer industry
generally depends upon the planned capacity addition to power generation,
transmission and distribution network in the country. India’s power generation
of installed capacity at the end of XI Five Year plan (March 31, 2012) stood at
approx. 200000 MVA. Of the total, approx. 78,000 MW of power generation
capacity addition was planned during the XI Five Year plan period, which was
subsequently revised to 62000 MW, of which only 55000 MW of capacity was added.
Acute fuel shortage, high coal prices and delay in commissioning of new units,
affected capacity addition plans.
The addition of
approximately 85,000 MW is planned in XII five-year plan by the year 2017. As a
result of this, huge requirement in power transformation capacity would be
required. Also, a good population of transformers has completed more than 20-
25 years in field and these will be required to be replaced by new transformers
in near future. It is estimated that total turnover of transformer industry is
likely to be over Rs. 12,000 Crores. The
installed capacity of the Indian Transformer industry in the organized and
unorganized sector all together is about 4,00,000 MVA ranging from 5 KVA to 500 MVA and voltage range
from 1.1 KV to 1200 KV. Very recently 1200 KV technology has been developed and
absorbed by the Indian industry. 1200 KV single phase transformers have been
manufactured and are currently installed/being installed at 1200 KV BINA
Sub-Station which is managed by PGCIL.
OPPORTUNITY IN
EXPORTS:
The demand of
Indian products in global market is quite encouraging despite a slowdown
resulting in 37% increase in the exports. The primary reason for this is that there
are a lot of projects and electrification procedures going on, especially in
Africa that are funded by World Bank. There is immense scope for the Indian
electrical products market to boost its exports. The global electricity
equipments market stands at around $ 450 billion USD of which India’s share is
barely $ 4 billion USD which is less than 1 per cent. Thus, a huge scope is in
the offering for Indian domestic players in exports. Unless Indian players are
able to achieve the mix of 70% for domestic demand and 30 per cent for exports
it will not be able to achieve significant place in the world market. Given the
competitive advantages, there is a potential to grow the share of global
exports from 1% to 5%.
COMPANY’S
POSITIONING:
IMP today is an
established name in HV, EHV and Power Transformers, up to 315 MVA in 400 kV
class. IMP is a recognized supplier to all SEB’s, major EPC contractors and
private customers in the country and exports to 27 countries worldwide. Most
importantly today IMP is a 300 Crore company growing at 25% CAGR since last 7
years and has consistent vision to continue doing the same in the years to
follow. IMP’s infrastructure today boasts of with the state-of-the-art
manufacturing facility at Silvassa which features world class technology and
precision machinery. IMP has a total installed capacity of 12000 MVA per annum.
FIXED ASSETS
Ř Free Hold
Ř Building and HO
Building
Ř Plant and
Machineries
Ř Dies and Jigs
Ř Electrical
Installation
Ř Air Conditioning
Equipments
Ř Furniture and Fixtures
Ř Office Equipments
Ř Cars and Vehicles
Ř
Computer
UNAUDITED
FINANCIAL RESULT FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2013
(Rs. In Millions)
|
|
Quarter Ended |
Half Year Ended |
|
|
PARTICULARS |
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
|
|
|
|
|
01. Gross Sales / Income from Operations
|
424.907 |
768.740 |
1193.647 |
|
Less
: Excise Duty |
25.010 |
76.457 |
101.467 |
|
Net Sales / Income from
Operations |
399.897 |
692.283 |
1092.180 |
|
02.
Other Operating Income |
0.484 |
0.184 |
0.668 |
|
03. TOTAL INCOME FROM OPERATIONS
|
400.381 |
692.467 |
1092.848 |
|
04. EXPENDITURE |
|
|
|
|
a)
Cost of materials consumed |
477.558 |
503.085 |
980.643 |
|
b) Purchases of stock-in-trade |
-- |
-- |
-- |
|
c) Changes in inventories
of finished goods, work-in- progress
and stock-in-trade |
(138.710) |
50.128 |
(88.582) |
|
d) Employee benefits expense |
27.844 |
28.675 |
56.519 |
|
e) Depreciation and amortization expense |
12.425 |
12.044 |
24.469 |
|
f) Other Expenses |
28.228 |
49.182 |
77.410 |
|
TOTAL EXPENSES |
407.345 |
643.114 |
1050.459 |
|
05. Profit / (Loss) from Operations before other income, finance costs
and exceptional items |
(6.964) |
49.353 |
42.389 |
|
06.
Other Income |
-- |
-- |
-- |
|
07. Profit Before Finance Costs
& Exceptional Items |
(6.964) |
49.353 |
42.389 |
|
08.
Finance costs |
48.462 |
42.430 |
42.389 |
|
09. Profit after Finance Cost
but before exceptional items |
(55.426) |
6.923 |
(48.503) |
|
10.
Exceptional Items |
-- |
-- |
-- |
|
09. Profit / (Loss) from
ordinary activities before tax |
(55.426) |
6.923 |
(48.503) |
|
11. Tax expense, including deferred tax |
-- |
2.284 |
2.284 |
|
12. Net Profit
/ Loss (-) from ordinary activities after tax |
(55.426) |
4.639 |
(50.787) |
|
13. Paid-up Equity Share
Capital (each share of Rs. 10/- face
value) |
81.366 |
81.366 |
81.366 |
|
14. Reserves excluding revaluation reserves as per Balance Sheet of previous accounting
year |
-- |
-- |
-- |
|
15. Earnings per share – Basic
and diluted EPS before and after extraordinary item (Rs.) – non-annualized |
(6.81) |
0.57 |
(6.24) |
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
|
a. |
Number of shares |
3988360 |
3993020 |
3988360 |
|
|
b. |
Percentage of shareholding |
49.02 |
49.08 |
49.02 |
|
2 |
Promoters and promoter group shareholding |
|
|
|
|
|
|
a. |
Pledged/Encumbered |
|
|
|
|
|
Number of shares |
2621588 |
1729023 |
2621588 |
|
|
|
|
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
63.20 |
41.73 |
63.20 |
|
|
|
Percentage of shares (as a % of the total share capital of the
Company) |
32.22 |
21.25 |
32.22 |
|
|
b. |
Non-encumbered |
|
|
|
|
|
Number of shares |
1526651 |
2414520 |
1526615 |
|
|
|
|
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
36.80 |
58.27 |
69.91 |
|
|
|
Percentage of shares (as a % of the total share capital of the
Company) |
18.76 |
29.67 |
18.76 |
NOTE:
1.
The above results have been reviewed by the
committee and approved by the board of directors in its meeting held on 13th
November, 2013. The statutory additors have carried out a limited review of the
result.
2.
The company is primarily engaged in the business of
electrical products like power and distribution transformer and hydro projects,
which together constitute a single segment within power sector.
STATEMENT OF
ASSETS AND LIABILITIES
(Rs. In Millions)
|
PARTICULARS |
30.09.2013 |
|
|
Un-audited |
|
I.
Equity and liabilities |
|
|
Shareholders'
funds |
|
|
Share capital |
101.804 |
|
Reserves and surplus |
822.393 |
|
Total
|
924.197 |
|
Share
Application Money |
-- |
|
Minority
Intrest |
-- |
|
|
|
|
Non-current
liabilities |
|
|
Long-term borrowings |
200.552 |
|
Deferred tax liabilities (net) |
43.096 |
|
Other long term liabilities |
13.273 |
|
Long-term provisions |
7.586 |
|
Total |
264.507 |
|
|
|
|
Current
liabilities |
|
|
Short-term borrowings |
790.718 |
|
Trade payables |
630.608 |
|
Other current liabilities |
170.841 |
|
Short-term provisions |
6.176 |
|
Total
|
1598.343 |
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
2787.047 |
|
|
|
|
II.
Assets |
|
|
Non-current
assets |
|
|
Fixed assets |
|
|
Tangible assets |
836.925 |
|
Intangible assets |
0.149 |
|
Intangible assets under development |
1.000 |
|
Non-current investments |
6.515 |
|
Long-term loans and advances |
37.540 |
|
Total |
882.129 |
|
|
|
|
Current
assets |
|
|
Current investments |
-- |
|
Inventories |
712.154 |
|
Trade receivables |
1094.941 |
|
Cash and bank balances |
60.731 |
|
Short-term loans and advances |
34.403 |
|
Other current assets |
2.689 |
|
Total |
1904.918 |
|
|
|
|
TOTAL
ASSETS |
2787.047 |
Note:
5. Last year the accounting period of the
company was for nine months i.e. July to March 13, hence half year corresponding
period for the last year is reported as 31 st December 2012.
6. Figures of the previous periods and year
have been regrouped / reclassified where ever considered necessary
7. The company has order book of Rs. 3540.000
millions as on date.
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 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.61.21 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
5 |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.