MIRA
INFORM REPORT
|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOCRAFT INDUSTRIES (INDIA) LIMITED |
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Registered
Office : |
"Technocraft House", A-25, MIDC, Marol Industrial Area, Road
No. 3, Opposite ESIS Hospital, Andheri (East), Mumbai- 400 093, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.10.1992 |
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Com. Reg. No.: |
11-069252 |
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Capital
Investment / Paid-up Capital : |
Rs.315.268
Millions |
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CIN No.: [Company Identification
No.] |
L28120MH1992PLC069252 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT09029G |
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PAN No.: [Permanent Account No.] |
AAACT2724P |
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Legal Form : |
A Public Limited
Liability Company. The Company’s Shares
are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturers, Exporter and Importer of Drum Closure,
Yarn, Power and Garments Pipe. |
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No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
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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 |
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Maximum Credit Limit : |
USD 19100000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company
having fine track record. The rating reflect Technocrafts’s strong financial risk profile marked
by a robust capital structure, ample liquidity and adequate debt protection
metrics. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered normal 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.
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 |
CRISIL |
|
Rating |
A+
(Letter of Credit) |
|
Rating Explanation |
Having adequate degree of safety regarding timely
servicing of financial obligation. It carry low credit risk. |
|
Date |
November 2012 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Sushil Bhale |
|
Designation : |
General Manager (Finance) |
|
Contact No.: |
91-9820064213 |
|
Date : |
12.12.2013 |
LOCATIONS
|
Registered Office / Corporate Office : |
"Technocraft House", A-25, MIDC, Marol Industrial Area, Road
No. 3, Opposite ESIS Hospital, Andheri (East), Mumbai-400093, Maharashtra,
India |
|
Tel. No.: |
91-22-40982345 / 40982222 / 4092202 |
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Fax No.: |
91-22-28356559 / 28367037 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Factory 1: |
M-6, Additional MIDC, Murbad, District Thane – 421 401, Maharashtra,
India |
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Tel. No.: |
91-2524-222646/ 48 |
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Fax No.: |
91-2524-222335 |
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E-Mail : |
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Factory 2 : |
Drum Closure: Plot No. C-5, MIDC Murbad Industrial Area, District
Thane – 421 401, Maharashtra, India |
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Tel. No.: |
91-2524-223220/ 222380/ 222278 |
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Fax No.: |
91-2524-222378 |
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E-Mail : |
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Factory 3 : |
Pipe and Scaffoldings: Plot No. 4/1, MIDC Murbad, District Thane – 421
401, Maharashtra, India |
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Tel. No.: |
91-2524-222823/ 222676/ 222678 |
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Fax No.: |
91-2524-222013/ 224514 |
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E-Mail : |
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Factory 4 : |
Yarn, Power and Garment: Village Dhanivali, Murbad, District Thane –
421 401, Maharashtra, India |
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Tel. No.: |
91-2524-222941 to 45 |
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Fax No.: |
91-2524-222946 |
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E-Mail : |
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Overseas Office : |
Located At: ·
United Kingdom ·
Poland ·
Hungary ·
Germany ·
Australia |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Madhoprasad Saraf |
|
Designation : |
Chairman |
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|
Name : |
Mr. Sharad Kumar Saraf |
|
Designation : |
Managing Director |
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Date of Birth / Age: |
66 Years |
|
Date of Appointment : |
28.10.1992 |
|
Experience : |
41 Years |
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|
|
|
Name : |
Mr. S.M. Saraf |
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Designation : |
Managing Director |
|
Date of Birth / Age: |
67 Years |
|
Date of Appointment : |
28.10.1992 |
|
Experience : |
40 Years |
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|
|
|
Name : |
Mr. Atanu Choudhary |
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Designation : |
Whole time Director |
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|
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|
Name : |
Mr. S.B. Agarwal |
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Designation : |
Independent Director |
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Qualification : |
M.Com, M.A. (Eco .), FCA, LLB |
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|
|
|
Name : |
Mr. Ganesh Kumar Gupta |
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Designation : |
Independent Director |
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Date of Birth / Age: |
09.12.1952 |
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Date of Appointment : |
28.02.2006 |
|
Qualification : |
Graduate |
|
DIN No.: |
00024567 |
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|
Name : |
Mr. Anand Didwania |
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Designation : |
Independent Director |
|
Qualification : |
B.Sc . |
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|
|
|
Name : |
Mr. Pankaj Toprani |
|
Designation : |
Independent Director |
|
Date of Birth / Age: |
28.06.1955 |
|
Date of Appointment : |
25.06.2009 |
|
Qualification : |
CA, CS, LLB |
|
DIN No.: |
02690151 |
KEY EXECUTIVES
|
Name : |
Mr. Navneet Kumar Saraf |
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Designation : |
Chief Operating Officer |
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Date of Birth/Age : |
31 Years |
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Qualification : |
B.E.(Mech.) |
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Experience : |
11 Years |
|
Date of Appointment : |
23.12.2006 |
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|
|
|
Name : |
Mr. Ashish Kumar Saraf |
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Designation : |
Chief Financial Officer |
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Date of Birth/Age : |
28 Years |
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Qualification : |
C.A. (Inter) |
|
Experience : |
9 Years |
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Date of Appointment : |
23.12.2006 |
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|
|
|
Name : |
Mr. Subhash Khandelwal |
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Designation : |
President Marketing |
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|
Name : |
Mr. Manoj Jain |
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Designation : |
Company Secretary and Compliance Officer |
SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
23636562 |
74.97 |
|
|
23636562 |
74.97 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
23636562 |
74.97 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
17117 |
0.05 |
|
|
16383 |
0.05 |
|
|
1508000 |
4.78 |
|
|
1541500 |
4.89 |
|
|
|
|
|
|
1939028 |
6.15 |
|
|
|
|
|
|
2481430 |
7.87 |
|
|
1513676 |
4.80 |
|
|
414554 |
1.31 |
|
|
28979 |
0.09 |
|
|
385575 |
1.22 |
|
|
6348688 |
20.14 |
|
Total Public shareholding (B) |
7890188 |
25.03 |
|
Total (A)+(B) |
31526750 |
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) |
31526750 |
0.00 |
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%20LIMITED%20-%20246830_MIRA%2018-Dec-2013_files/image003.gif){kind=small}
%20LIMITED%20-%20246830_MIRA%2018-Dec-2013_files/image004.gif){kind=small}
Individual shareholders holding nominal
share capital up to Rs.0.100 millionsShareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Ashish Kumar Saraf |
70742 |
0.22 |
|
Madhoprasad Saraf |
94759 |
0.30 |
|
Madhoprasad Shantidevi Saraf HUF |
214561 |
0.68 |
|
Navneet Kumar Saraf |
1124280 |
3.57 |
|
Nidhi Saraf |
56494 |
0.18 |
|
Ritu Saraf |
73605 |
0.23 |
|
Shakuntala Saraf |
6739512 |
21.38 |
|
Shanti Devi Saraf |
2963471 |
9.40 |
|
Sharad Kumar Saraf |
423080 |
1.34 |
|
Sharad Kumar Madhoprasad Saraf
HUF |
2874946 |
9.12 |
|
Sudarshan Kumar Saraf |
8750652 |
27.76 |
|
Sudarshan Kumar Madhoprasad
Saraf HUF |
97506 |
0.31 |
|
Suman Saraf |
152954 |
0.49 |
|
Total |
23636562 |
74.97 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
IL And FS Securities Services
Limited |
395753 |
1.26 |
|
Orange Mauritius Investments
Limited |
1508000 |
4.78 |
|
Inuit U S Holdings INC |
385575 |
1.22 |
|
Dipti Vinod Kumar Saboo |
336104 |
1.07 |
|
Anil Kumar Goel |
360000 |
1.14 |
|
Finquest Securities Private
Limited |
840000 |
2.66 |
|
Total |
3825432 |
12.13 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Exporter and Importer of Drum Closure, Yarn,
Power and Garments Pipe. |
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Products : |
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Exports : |
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|
Products : |
·
Yarn ·
Drum Closure Pipe ·
Scaffolding |
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Countries : |
·
China ·
Dubai ·
Germany ·
USA ·
France |
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Imports : |
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Products : |
·
Machinery ·
Raw Material |
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Countries : |
·
France ·
Germany ·
USA ·
China |
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Terms : |
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Selling : |
L/C, Credit and DP |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
|
Flanges and Bungs |
Pieces |
N.A |
100,000,000.00 |
|
Capseals |
Pieces |
N.A |
2,500,000.00 |
|
Clamps |
Pieces |
N.A |
20,000,000.00 |
|
Pipes |
M.T. |
N.A |
55,000.00 |
|
Yarn |
Spindles |
61,104.00 |
61,104.00 |
|
Garments (T-Shirts) |
Pieces |
100,000,000.00 |
100,000,000.00 |
|
Particulars |
Unit |
Actual Production |
|
Flanges |
Pieces |
43,418,842.00 |
|
Bungs |
Pieces |
39,037,007.00 |
|
Clamps |
Pieces |
561,435.00 |
|
Gasket |
Pieces |
2,956,150.00 |
|
Canseal Closures |
Pieces |
605,800.00 |
|
Bolt/Base Plate |
Pieces |
1,149,000.00 |
|
Plugs |
Pieces |
8,972,900.00 |
|
Pipes |
M.T. |
11,525.33 |
|
Yarn |
M.T. |
9,741.86 |
|
Garment (T-Shitrt) |
Pieces |
2,217,446.00 |
|
Fabric |
Kgs. |
547,589.00 |
GENERAL INFORMATION
|
Customers : |
Manufacturer |
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No. of Employees : |
2000 (Approximately) |
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Bankers : |
·
Bank of India, Andheri Branch, Mumbai,
Maharashtra, India ·
IDBI Bank Limited ·
HDFC Bank ·
CITI Bank NA |
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Facilities : |
Multiple Banking They enjoy consortium total facility of fund and non-fund =
Rs.1520.000 Millions
Long Term
Borrowings Term Loan From Bank of India Is Secured Against Hypothecation of Plant
and Machinery, Equipment Purchased Out of Term Loan And Also Against Equitable
Mortgage of Specific immovable Properties of Yarn Division. |
|
|
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|
Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
M.L. Sharma and Company Chartered Accountants |
|
Address : |
107, First Floor, Chartered House, 297/299, Dr. Cawasji Hormashi
Street, Marine Lines, Mumbai- 400 002, Maharashtra, India |
|
|
|
|
Subsidiary Company / Fellow Subsidiary : |
·
Technocraft International Ltd, U.K. ·
Technocraft Trading, Poland ·
Technocraft Australia Pty Limited ·
Technosoft Engineering Projects Limited (Formerly
known as Technosoft Information Technologies (I) Limited) ·
Impact Engineering Solutions Inc. ·
CAE Systems GMBH ·
Anhui Reliable Steel Tec. China |
|
|
|
|
Associates : |
·
Ashrit Holdings Limited ·
B. M. S. Industries Limited ·
M.D .Saraf Securities Private Limited |
|
|
|
|
Joint Venture : |
Technocraft Tabla Formwork System Private Limited |
|
|
|
|
Co- Venturer : |
Tabla Construction Systems |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31526750 |
Equity Shares |
Rs. 10/- each |
Rs.315.268 Millions |
1)
The Company has only one class of Equity Shares
having a par value of 10 per share. Each shareholder is eligible for one vote
per share.
2)
The reconciliation of the number of share
outstanding at the yearend is set out below :
|
Equity Shares |
Number
of Shares |
Rs in Millions |
|
Shares outstanding at the beginning of the year |
31526750 |
315.268 |
|
Shares issued during the year |
- |
- |
|
Shares bought back during the year |
- |
- |
|
Shares
outstanding at the end of the year |
31526750 |
315.268 |
3)
The Details of Shareholders Holding more than 5%
Shares is set out below :
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Shakuntala Saraf
|
6739512 |
21.37% |
|
Shantidevi Saraf
|
2963471 |
9.40% |
|
Sharad Kumar
Madhoprasad HUF |
2874946 |
9.12% |
|
Sudarshan Kumar Saraf |
8750652 |
27.76% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
315.268 |
315.268 |
315.268 |
|
(b) Reserves & Surplus |
4458.603 |
3925.792 |
3780.906 |
|
(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) |
4773.871 |
4241.060 |
4096.174 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
48.987 |
69.555 |
97.236 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
10.102 |
9.968 |
9.216 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
59.089 |
79.523 |
106.452 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
838.857 |
765.811 |
1450.520 |
|
(b) Trade payables |
276.937 |
276.897 |
191.635 |
|
(c) Other current
liabilities |
278.916 |
264.070 |
168.315 |
|
(d) Short-term provisions |
117.999 |
72.002 |
48.593 |
|
Total Current Liabilities (4) |
1512.709 |
1378.780 |
1859.063 |
|
|
|
|
|
|
TOTAL |
6345.669 |
5699.363 |
6061.689 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1111.342 |
1294.020 |
1478.420 |
|
(ii) Intangible Assets |
4.286 |
16.748 |
25.429 |
|
(iii) Capital
work-in-progress |
1.544 |
16.979 |
29.259 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
761.575 |
575.971 |
820.878 |
|
(c) Deferred tax assets (net) |
63.267 |
44.081 |
28.214 |
|
(d) Long-term Loan and Advances |
45.613 |
17.026 |
25.377 |
|
(e) Other Non-current assets |
34.179 |
120.979 |
103.005 |
|
Total Non-Current Assets |
2021.806 |
2085.804 |
2510.582 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
878.417 |
0.000 |
0.000 |
|
(b) Inventories |
1044.879 |
915.733 |
1441.612 |
|
(c) Trade receivables |
1751.465 |
1365.188 |
1041.084 |
|
(d) Cash and cash
equivalents |
123.860 |
105.658 |
520.750 |
|
(e) Short-term loans and
advances |
125.844 |
849.673 |
86.149 |
|
(f) Other current assets |
399.398 |
377.307 |
461.512 |
|
Total Current Assets |
4323.863 |
3613.559 |
3551.107 |
|
|
|
|
|
|
TOTAL |
6345.669 |
5699.363 |
6061.689 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6479.617 |
5520.701 |
4720.632 |
|
|
|
Other Income |
219.314 |
185.728 |
169.410 |
|
|
|
TOTAL (A) |
6698.931 |
5706.429 |
4890.042 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
3281.471 |
3055.195 |
2769.101 |
|
|
|
Purchase For Trading |
332.158 |
155.194 |
52.418 |
|
|
|
Changes In Inventories of Stock |
41.257 |
199.673 |
(303.276) |
|
|
|
Employees Benefit Expenses |
335.755 |
336.928 |
285.031 |
|
|
|
Amortisation of Goodwill |
12.192 |
12.192 |
12.192 |
|
|
|
Other Expenses |
1413.598 |
1289.159 |
1178.100 |
|
|
|
TOTAL (B) |
5416.431 |
5048.341 |
3993.566 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1282.500 |
658.088 |
896.476 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
60.074 |
72.233 |
78.963 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1222.426 |
585.855 |
817.513 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
264.351 |
292.044 |
351.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
958.075 |
293.811 |
465.963 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
310.804 |
110.765 |
131.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
647.271 |
183.046 |
334.370 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
642.839 |
496.434 |
245.938 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
64.500 |
0.000 |
8.000 |
|
|
|
Proposed Dividend |
63.054 |
31.527 |
31.527 |
|
|
|
Dividend Distribution
Tax |
10.716 |
5.114 |
5.236 |
|
|
BALANCE CARRIED
TO THE B/S |
1112.571 |
642.839 |
535.545 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4980.607 |
3951.932 |
3223.931 |
|
|
TOTAL EARNINGS |
4980.607 |
3951.932 |
3223.931 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
472.877 |
37.909 |
77.159 |
|
|
|
Stores & Spares |
3.219 |
2.271 |
1.876 |
|
|
|
Packing Materials |
0.000 |
0.719 |
0.000 |
|
|
TOTAL IMPORTS |
476.096 |
40.899 |
79.035 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.53 |
5.81 |
10.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.66 |
3.21 |
6.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.79 |
5.32 |
9.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.61 |
5.97 |
9.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.07 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.19 |
0.20 |
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86 |
2.62 |
1.91 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
LISTING DETAILS:
|
CASE DETAILS
District:- MUMBAI Bench:- DIVISION Status:- Pre-Admission
Category:- CENTRAL EXCISE
APPEAL (CEXA) Act :- Central Excise
and Salt Act
Under Section:- 35G |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Common Wealth Bank P.C.F.C $ A/C |
78.913 |
0.000 |
|
ING Vysya Bank $ P.C.F.C. A/C. |
136.886 |
0.000 |
|
Total |
215.799 |
0.000 |
FINANCIAL HIGHLIGHTS
PERFORMANCE
FY
2012-13 was a tremendous year in Company history. The Company achieved its best
results. The gross sale and other income for the financial year were
Rs.6698.931 Millions against Rs.5706.429 Millions for the previous financial
year an increase of 17%. Total EBIDITA for the year stood at Rs.1282.500
Millions against Rs.658.088 Millions for the previous year, an increase of 95%.
PAT stood as Rs.647.271 Millions as compared to Rs.183.046 Millions previous
year, an increase of 254% On Consolidation basis the gross sale and other
income for the financial year were Rs.8323.369 Millions against Rs.6730.212
Millions for the previous financial year an increase of 24%. Total PAT for the
year stood at Rs.742.542 Millions against Rs.152.678 Millions for the previous
year an increase of 386%.
OVERVIEW
For
the Indian economy, FY13 was a challenging year. GDP growth declined to 5% from
6.2% in the previous year on account of high fiscal deficit, high inflation,
worsening current account deficit and slowdown in economic growth. During the
second half of FY13, the government intervened with some policy reforms to
stabilize the economy and also took steps to attract foreign direct investment
and market based price for petro products to improve current account deficit.
However, concern exists over containing the high current account deficit,
prevailing supply side constraints and inadequate infrastructure investment.
Though the long term prospects of the economic look promising, cautions
optimism is the feeling in the short to medium term.
FUTURE
PROJECT
The
company successfully acquired a very interesting Engineering Design Services company
located in Calgary, Canada specializing in Engineering, Procurement,
Construction and Management Services in oil and gas sector. The company has
been acquired as a subsidiary of our 100% subsidiary company Technosoft
Information Technology Limited. This acquisition will add great value to
Technosoft, which was hitherto absent in oil and gas sector. The Canadian
company Swift Engineering Inc. has a turnover of approximately Rs.500.000
Crores with a very healthy bottom line of approximately Rs.100.000 Millions.
They expect this turnover to go upto Rs.2000.000 Millions by 31st March 2014
with a much better bottom line. This acquisition will make Technosoft a world
class Engineering Design Services Company.
The
Company has already begun the project work for installing and commissioning of
a 5 MW Solar Power Plant to be located in Solapur, Maharashtra. The plant will
be commissioned by 31st March 2014, so that The Company will be entitled to 50%
extended rate of depreciation this year and balance 50% next year. Hence they
expect to save our tax burden for the next two years. They propose to follow
the REC route and expect an IRR of over 30%.
Apart
from the above major projects, you company's in house growth is ongoing. In
every division they are modernizing, upgrading technology and cutting costs.
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2013
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
1.
Income form operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
1721.541 |
1310.866 |
3032.407 |
|
b) Other operating income |
135.726 |
136.808 |
272.535 |
|
Total
income from Operations(net) |
1857.267 |
1447.674 |
3304.942 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
844.116 |
739.035 |
1583.151 |
|
b) Purchases of stock in trade |
129.300 |
21.976 |
151.276 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
11.576 |
(72.152) |
(60.576) |
|
d) Employees benefit expenses |
100.039 |
96.319 |
196.358 |
|
e) Depreciation and amortization expenses |
56.481 |
53.462 |
109.943 |
|
f) Other expenditure |
398.928 |
318.152 |
717.080 |
|
Total expenses |
1540.440 |
1156.792 |
2697.232 |
|
3. Profit from operations before other income and
financial costs |
316.827 |
290.882 |
607.710 |
|
4. Other income |
61.252 |
92.003 |
153.255 |
|
5. Profit from ordinary activities before finance costs |
378.079 |
382.885 |
760.964 |
|
6. Finance costs |
12.594 |
7.720 |
20.314 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
365.485 |
375.165 |
740.650 |
|
8. Exceptional item |
47.246 |
64.333 |
111.579 |
|
9. Profit from ordinary activities before tax
Expense: |
412.731 |
439.498 |
852.230 |
|
10.Tax expenses |
133.669 |
138.497 |
272.166 |
|
11.Net Profit
/ (Loss) from ordinary activities after tax (9-10) |
279.062 |
301.001 |
580.063 |
|
12.Extraordinary Items (net of tax expense) |
- |
- |
- |
|
13.Net Profit / (Loss) for the period (11 -12) |
279.062 |
301.001 |
580.063 |
|
14.Paid-up
equity share capital (Nominal value Re. 1/- per share) |
315.268 |
315.268 |
315.268 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
4994.139 |
4736.804 |
4994.139 |
|
16.i) Earnings per share Basic and diluted EPS before and after Extraordinery items for the
period for the year to date and the previous year not t to be annualised : |
8.85 |
9.55 |
18.40 |
|
Particulars |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
7890188 |
7890188 |
7890188 |
|
- Percentage of shareholding |
25.03% |
25.03% |
25.03% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
NA |
NA |
NA |
|
Percentage of shares (as a % of total share capital of the
company) |
NA |
NA |
NA |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
23636562 |
23636562 |
23636562 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
100.00% |
100.00% |
100.00% |
|
Percentage of shares (as a % of total share capital of the
company) |
74.97% |
74.97% |
74.97% |
|
|
|
|
|
|
B.
Investor Complaints |
|
||
|
Pending at the beginning of the quarter |
- |
||
|
Receiving during the quarter |
- |
||
1.
The
above Unaudited Standalone financial results for the quarter/half year ended on
30th September, 2013 were reviewed by the Audit Committee and approved by the Board
of Directors of the Company at its meeting held on October 24, 2013.
2.
The
Statutory Auditors of the Company have carried out a limited Review of the
Unaudited Financial Results for the quarter/half year ended on Sep. 30, 2013
3.
The Company
is engaged in 5 segments 1) Drum Closure Division 2) Scaffolding Division 3)
Yarn Division 4) Power Division 5) Garment Division
4.
The
company has an exposure in Commodities Investments on National Spot Exchange
Limited (NSEL) of Rs.198.166 Millions as on 30th September, 2013. The Company has taken adequate steps by
filing an FIR & WRIT Petitions through the NSEL Investors forum of which
the Company is a member and in our opin the same is considered recoverable.
5.
Book
value per share as on 30.09.2013 is Rs.168.40.
6.
Previous
Years/quarters figures have been regrouped/rearranged wherever necessary.
SEGMENT WISE REVENUE,
RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER/HALF YEAR ENDED 30.09.2013
(Rs. In Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
Half
Year Ended (
Unaudited) |
|
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
1.
Segment Revenue |
|
|
|
|
a. Drum Closures Division |
599.063 |
523.770 |
1122.833 |
|
b. Scaffoldings Division |
523.550 |
332.733 |
856.283 |
|
c. Yarn Division |
576.909 |
451.724 |
1028.633 |
|
d. Garment Division |
63.275 |
38.502 |
101.777 |
|
e. Power Division |
73.606 |
89.349 |
162.955 |
|
Total |
1836.403 |
1436.078 |
3272.481 |
|
Less : Inter Segment Revenue |
114.863 |
125.211 |
240.074 |
|
Net
Sales |
1721.540 |
1310.867 |
3032.407 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
a. Drum Closures Division |
252.987 |
225.130 |
478.117 |
|
b. Scaffoldings Division |
67.934 |
59.705 |
127.639 |
|
c. Yarn Division |
74.407 |
103.188 |
177.594 |
|
d. Garment Division |
(0.018) |
1.187 |
1.169 |
|
e. Power Division |
(10.680) |
(18.457) |
(29.137) |
|
Total |
384.630 |
370.753 |
755.383 |
|
|
|
|
|
|
Less
: (i) Interest |
12.594 |
7.720 |
20.314 |
|
(ii) Other un-allocable
expenditure net off un-allocable income. |
(40.695) |
(76.465) |
(117.161) |
|
|
|
|
|
|
Profit
before Tax |
412.731 |
439.498 |
852.229 |
|
3.
Capital Employed |
|
|
|
|
a. Drum Closures Division |
1021.838 |
898.570 |
1021.838 |
|
b. Scaffoldings Division |
1212.064 |
1002.394 |
1012.064 |
|
c. Yarn Division |
1110.217 |
935.321 |
1110.217 |
|
d. Garment Division |
124.891 |
103.494 |
124.891 |
|
e. Power Division |
349.815 |
328.124 |
349.815 |
|
Total |
3818.825 |
3267.903 |
3618.825 |
Notes:
1. Segment Revenue( Sale of Product), Segment Results, Segment assets and Segment liabilities shall have the same meaning as defined in the Accounting Standards on Segment Reporting (AS-17) issued by ICAI.
2. The Above information shall be furnished for each of the reportable primary segments as identified in accordance with AS - 17, issued by ICAI.
3. Previous Years figures have been regrouped wherever necessary.
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES AS ON 30.09.2013
Rs.
In Millions
|
SOURCES OF FUNDS |
|
|
30.09.2013 Unaudited |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
315.268 |
|
(b) Reserves & Surplus |
|
|
5016.269 |
|
(c) Pending Call Money |
|
|
0.000 |
|
Sub-total Shareholders’ |
|
|
5331.537 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
38.904 |
|
(b) Other
long-term liabilities |
|
|
8.510 |
|
Sub-total of
Non-Current liabilities |
|
|
47.414 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
710.090 |
|
(b) Trade payables |
|
|
247.985 |
|
(c) Other current
liabilities |
|
|
218.151 |
|
(d) Short-term provisions |
|
|
258.094 |
|
Sub-total of Current
liabilities |
|
|
1434.320 |
|
|
|
|
|
|
TOTAL |
|
|
6213.271 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
1092.210 |
|
(b)
Non-Current investments |
|
|
1200.287 |
|
(c) Deferred
tax assets (net) |
|
|
63.623 |
|
(d) Long term
loans and advances |
|
|
95.866 |
|
(e) Other
non-current assets |
|
|
124.340 |
|
Sub-total of
Non-Current Assets |
|
|
2576.326 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
650.666 |
|
(b) Inventories |
|
|
1191.783 |
|
(c) Trade receivables |
|
|
1739.073 |
|
(d) Cash and cash
equivalents |
|
|
66.965 |
|
(e) Short-term loans and
advances |
|
|
185.607 |
|
(f) Other current assets |
|
|
402.851 |
|
Sub-total of
Current Assets |
|
|
4236.945 |
|
|
|
|
|
|
TOTAL |
|
|
6813.271 |
CURRENT MATURITIES
ON LONG TERM DEBT DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities on long term Debt |
21.600 |
21.200 |
17.580 |
|
Total |
21.600 |
21.200 |
17.580 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10006493 |
29/05/2006 |
535,200,000.00 |
BANK OF INDIA LIMITED |
ORIENTAL BUILDING, ESPANADE
ROAD, MUMBAI, Maharashtra, INDIA |
A01527100 |
|
2 |
10007771 |
29/05/2006 |
250,000,000.00 |
BANK OF INDIA LIMITED |
ORIENTAL BUILDING, ESPANADE
ROAD, MUMBAI, Maharashtra - , INDIA |
A01527050 |
|
3 |
80056897 |
05/01/2010 * |
180,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT
MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A77360139 |
|
4 |
90148777 |
02/07/2004 |
251,380,000.00 |
BANK OF INDIA |
OVERSEAS BRANCH; MAZZANINE
FLOOR, BANK OF INDIA BUILDING; 70/80; M.G. ROAD; FORT, MUMBAI, Maharashtra -
400023, INDIA |
- |
|
5 |
80039756 |
05/01/2010 * |
380,000,000.00 |
CITIBANK N.A. |
BANDRA KURLA COMPLEX, BANDRA
EAST, MUMBAI, Maharashtra - 400051, INDIA |
A77358067 |
|
6 |
80057853 |
31/03/2010 * |
1,075,800,000.00 |
Bank of India |
Mumbai Overseas Branch , 70/80
M G Road , 1st Floor , Fort, Mumbai, Maharashtra - 400001, INDIA |
A82561689 |
|
7 |
80047980 |
05/01/2010 * |
220,000,000.00 |
IDBI Bank Limited |
47,OPUS CENTRE, MIDC,CENTRAL
ROAD,ANDHERI EAST, MUMBAI, Maharashtra - 400093, INDIA |
A77203859 |
|
8 |
80004947 |
18/09/2010 * |
1,306,300,000.00 |
Bank of India |
Mumbai Overseas Branch, 70 -
80, Mahatma Gandhi Road, Mezzaine Floor, Mumbai, Maharashtra - 400001, INDIA |
A96108683 |
*Date of
modification charge
FIXED ASSETS:
·
Land and Building
·
Plant and Machinery
·
Furniture and fixtures
·
Navision Software
·
Computer Software
·
Car Parking Space
·
Staff Quarters
·
Worker's Quarter
NEWS:
PERFORMANCE STATEMENT FROM THE MANAGING
DIRECTOR
Dear Technocraft Members,
It gives me great pleasure to address you after a long time.
I am sure you must have seen the performance of The company for the year
2012-13, which was published in the media on 24th May 2013 and the same has
also been reported to NSE and BSE as well as on company website.
You can see from the graph appended that the company has
been consistently improving results thereby adding to share value. We are a
technology driven company serving sophisticated export markets. Nearly 95% of
our production is exported around the world.
Presently we have approximately 100 acres of fully developed
industrial land in Murbad, about 90 km from Mumbai. We have four stand alone
units located close to each other. These include the world’s largest Drum
Closure manufacturing facility, facility to produce Galvanized Steel Tubes,
Scaffolding, Formwork, Transmission Line Towers and infrastructure custom built
structures. We also have a large fully integrated Textile Complex consisting of
a very modern 61,000 spindle Yarn Mill, fully integrated knitwear production
facility and a 15 MW Thermal Power Plant. Our power plant also supplies power
to all our engineering units.
About three years back we have also promoted a Skill
Development Center in the name of NTTF Training Center located on a picturesque
10 acre plot. It is a world class facility imparting three year Diploma in
Mechanical Engineering field and also training technicians for several
corporate. The Training Center has well equipped and modern academic block,
hostels for complete student population and large playground for almost all
types of sports.
I would welcome visit from any of our shareholders to see
our facilities. Kindly do let me know the plans and I will be happy to make
necessary arrangements.
I am pleased to inform you that our 100% owned subsidiary
company in China Anhui Reliable Steel Technology Co. Ltd. is now doing quite
well. It is successfully producing and exporting Scaffolding components that we
do not manufacture in India and also production of Drum Closures has just
started.
About three months back we have successfully acquired a very
interesting Engineering Design Services company located in Calgary, Canada
specializing in Engineering, Procurement, Construction and Management Services
in oil and gas sector. The company has been acquired as a subsidiary of our
100% subsidiary company Technosoft Information Technology Ltd. This acquisition
will add great value to Technosoft, which was hitherto absent in oil and gas
sector. The Canadian company Swift Engineering Inc. has a turnover of
approximately Rs.500.000 Millions with a very healthy bottom line of
approximately Rs.100.000 Millions. We expect this turnover to go upto
Rs.2000.000 Millions by 31st March 2014 with a much better bottom line. This
acquisition will make Technosoft a world class Engineering Design Services
Company.
We have already begun the project work for installing and
commissioning of a 5 MW Solar Power Plant to be located in Solapur, Maharashtra.
The plant will be commissioned by 31st March 2014, so that The company will be
entitled to 50% extended rate of depreciation this year and balance 50% next
year. Hence we expect to save our tax burden for the next two years. We propose
to follow the REC route and expect an IRR of over 30%.
Apart from the above major projects, our in house growth is
ongoing. In every division we are modernizing, upgrading technology and cutting
costs.
APRIL 2013 - ACQUIRED
SWIFT ENGINEERING, INC.
Technocraft has recently acquired a majority controlling
stake in Swift Engineering Inc., a company headquartered in Calgary, Canada,
which is in the business of providing Engineering, Procurement and Construction
Management services to the oil and gas industry in Alberta, British Columbia
and Saskatchewan, since 2003. With this acquisition, Technocraft is now poised
to make a quantum growth in the Engineering Services sector, managed by its
subsidiary Technosoft.
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.61.96 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
60 |
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.