MIRA
INFORM REPORT
|
Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIJAI ELECTRICALS LIMITED (w.e.f. 04.06.1993) |
|
|
|
|
Formerly Known
As : |
VIJAI ELECTRICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6-3-648/1 and 2, Off Raj |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.05.1980 |
|
|
|
|
Com. Reg. No.: |
01-002697 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1375.842 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909AP1980PLC002697 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV7259B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture of Distribution Transformers, EHV
Power Transformers, and Switchgear related products and also undertakes the
Electrification Projects. |
|
|
|
|
No. of Employees
: |
6000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 14550000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track record. There appears huge loss and external borrowings recorded by the
company during 2012. However, trade relations are improving. Business is active. Payments
are reported to be slow. The company can be considered for business dealings on a safe and
secured 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 |
CRISIL |
|
Rating |
B- (Long Term) |
|
Rating Explanation |
Have high risk of default. |
|
Date |
October 03, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 (Short Term) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
October 03, 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.
INFORMATION PARTED BY
|
Name : |
Mr. R K Rao |
|
Designation : |
Senior Corporate Account |
|
Contact No.: |
91-40-30617777 |
|
Date : |
30.10.2013 |
LOCATIONS
|
Registered Office/ Corporate Office : |
6-3-648/1 and 2, Off Raj Bhavan Road, Somajiguda, Hyderabad – 500082,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-30617777/ 30617778 |
|
Fax No.: |
91-40-30617733/ 30617892/ 30617865 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Rudraram, Patancheru Mandal, Medak
District – 502329, Andhra Pradesh,
India |
|
|
|
|
Haridwar Unit : |
Plot No.1-A, Sector 12, IIE, SIDCUL, Haridwar - 249 403, |
|
Tel. No.: |
91-1334-664000/ 664053 |
|
Fax No.: |
91-1334-664040/ 235375/ 235396 |
|
E-Mail : |
|
|
|
|
|
Roorkee Unit : |
Industrial Plot No.3 to 9, |
|
Tel. No.: |
91-1332-235052/ 53/ 55 |
|
Fax No.: |
91-1332-235051 |
|
E-Mail : |
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Branch Office : |
Located at: |
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|
|
|
Overseas Ventures : |
Located at: |
DIRECTORS
As on: 27.09.2012
|
Name : |
Mr. Dasari Jai Ramesh |
|
Designation : |
Managing Director |
|
Address : |
173, Road No.13, Jubilee Hills, Ranga Reddy District, |
|
Date of Birth/Age : |
15.06.1944 |
|
Qualification : |
M. Tech. |
|
PAN No.: |
ACNPD1885H |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
00294988 |
|
|
|
|
Name : |
Mr. Dasari Satyanarayana |
|
Designation : |
Director |
|
Address : |
Ravinivas, 8-3-310/A, 14A, Road No.14, Banjara Hills, Ranga Reddy District, |
|
Date of Birth/Age : |
15.01.1951 |
|
Qualification : |
B. Tech. |
|
PAN No.: |
ACLPD7187N |
|
Date of Appointment : |
31.05.1980 |
|
DIN No.: |
02267731 |
|
|
|
|
Name : |
Mr. Balavardhan Rao Venkata Desai |
|
Designation : |
Director |
|
Address : |
Amudalapalli Unguturu Mandal, Krishna District - 521312, Andhra
Pradesh, India |
|
Date of Birth/Age : |
13.05.1943 |
|
Qualification : |
B.Sc |
|
PAN No.: |
ABPPD8005Q |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
06414703 |
|
|
|
|
Name : |
Mr. Rameshchandra Bose Tummula |
|
Designation : |
Director |
|
Address : |
Flat No.101, Vamshirishi Residency, H.No.6-3-865/B, Greenlands, X
Road, Ameerpet, |
|
Date of Birth/Age : |
15.01.1941 |
|
Qualification : |
BE |
|
Date of Appointment : |
12.03.2005 |
|
DIN No.: |
00160630 |
|
|
|
|
Name : |
Mr. Abraham IAS Prathipati |
|
Designation : |
Director |
|
Address : |
Flat No.5C, Girdhar Apartments, 28, |
|
Date of Birth/Age : |
01.07.1939 |
|
Qualification : |
IAS (Retd.) |
|
Date of Appointment : |
07.06.2005 |
|
DIN No.: |
00280426 |
|
|
|
|
Name : |
Mr. Dasari Krishna Mohan |
|
Designation : |
Whole-Time Director |
|
Address : |
173, Road No.13, Jubilee Hills, Ranga Reddy District, |
|
Date of Birth/Age : |
01.06.1954 |
|
Qualification : |
SSC |
|
PAN No.: |
ACNPD2314D |
|
Date of Appointment : |
18.10.2010 |
|
DIN No.: |
00295174 |
|
|
|
|
Name : |
Mr. Dattatraya Viswanath Narke |
|
Designation : |
Director |
|
Address : |
Asish Bunglow, Rahate Colony, |
|
Date of Birth/Age : |
19.05.1932 |
|
Qualification : |
BE |
|
Date of Appointment : |
25.07.1986 |
|
DIN No.: |
01257773 |
|
|
|
|
Name : |
Mr. Venkata Vasudeva Murthy Vemula |
|
Designation : |
Nominee Director |
|
Address : |
D4, Corithian Apartment, 17 Justice Vyas
Road, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1955 |
|
Qualification : |
MSc., CAIIB |
|
Date of Appointment : |
29.06.2011 |
|
DIN No.: |
03562794 |
|
|
|
|
Name : |
Mrs. Nivedita Jagdeesh Shetty |
|
Designation : |
Nominee Director |
|
Address : |
A / 82, Twin Tower, Veer Sarvarkar Marg,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
29.09.1957 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.11.2011 |
|
DIN No.: |
05155255 |
|
|
|
|
Name : |
Mr. Prabhakar Ramchandra Dalal |
|
Designation : |
Nominee Director |
|
Address : |
1302, Wallace Apartments – I, |
|
Date of Birth/Age : |
09.01.1953 |
|
Date of Appointment : |
28.03.2013 |
|
DIN No.: |
00544948 |
KEY EXECUTIVES
|
Name : |
Mr. R K Rao |
|
Designation : |
Senior Corporate Account |
|
Address : |
|
|
Name : |
Mr. Suresh Babu Pentyala |
|
Designation : |
Secretary |
|
Address : |
A/76, Santosh Nagar, Mehdipatnam, Hyderabad – 500028, Andhra Pradesh,
India |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
01.12.2001 |
|
PAN No.: |
ACUPP4459Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Dasari Jai Ramesh |
|
56656892 |
|
Dasari Satyanarayana |
|
6714114 |
|
Dasari Padmapriya |
|
440000 |
|
Dasari Krishna Mohan |
|
4864837 |
|
D.V. Balavardhana Rao |
|
4649920 |
|
Dasari Syam Prasad |
|
4650074 |
|
Dasari Subhashini |
|
2200 |
|
D. Sujatha Lakshmi |
|
2200 |
|
D. Vijaya Lakshmi |
|
2200 |
|
Samrakshana Electricals Limited, |
|
5940000 |
|
D. |
|
247874 |
|
P. Koteswara Rao |
|
231957 |
|
P. Vindhya Rani |
|
247874 |
|
Dasari Usha Rani |
|
2000000 |
|
3I Power Projects ( |
|
4244088 |
|
|
|
|
|
Total |
|
90894230 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Samrakshana Electricals Limited, |
|
50000 |
|
State Bank of India, India |
|
2553000 |
|
State Bank of Travancore, India |
|
129000 |
|
ING Vysya Bank Limited, India |
|
426000 |
|
IDBI Bank Limited, India |
|
1428000 |
|
Axis Bank Limited, India |
|
83000 |
|
|
|
|
|
Total |
|
4669000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
4.67 |
|
Bodies corporate |
|
6.54 |
|
Directors or relatives of directors |
|
88.79 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture of Distribution Transformers,
EHV Power Transformers, and Switchgear related products and also undertakes the
Electrification Projects. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
European |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
USA ·
China |
GENERAL INFORMATION
|
Customers : |
|
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|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
6000 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· Export Import Bank of India, Centre One Building, Floor 21, World Trade Center Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · State Bank of India, O ZONE, II Floor, Punjagutta Main Road, Hyderabad - 500082, Andhra Pradesh, India · State Bank of Travancore, Secunderabad Branch, 111, SD Road, Secunderabad - 500003, Andhra Pradesh, India · United Bank of India, Secunderabad Branch, M.G. Road, Secunderabad - 500003, Andhra Pradesh, India |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.V.R.K. Nageaswara Rao and Company Chartered Accountants |
|
Address : |
109, Metro Residency, 6-3-1247, Raj Bhavan Road, Hyderabad - 500082,
Andhra Pradesh, India |
|
PAN No.: |
AACFP1618B |
|
|
|
|
Subsidiary Company
: |
· Vijai Electrica do Brasil Ltda · Vijai Elecrricals Mexico SA DE CV · Vijai Elecrricals Mexico Services SA DE CV · Electro Teknica Switchgears Private Limited CIN No.: U28113WB1988PTC044317 · Global Heavy Electricals Limited CIN No.: U40105AP2007PLC056799 |
|
|
·
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Samrakshana Electricals Limited CIN No.: U31200AP1987PLC007329 · Kiran Enterprises |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
6100000 |
Preference Shares |
Rs. 100/- each |
Rs.610.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2110.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90894230 |
Equity Shares |
Rs.10/- each |
Rs.908.942 Millions |
|
4669000 |
Preference Shares |
Rs. 100/- each |
Rs.466.900 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1375.842
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1375.842 |
913.942 |
|
(b) Reserves & Surplus |
|
2261.746 |
4297.190 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
3637.588 |
5211.132 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
5284.205 |
2786.616 |
|
(b) Deferred tax liabilities (Net) |
|
271.174 |
365.397 |
|
(c) Other long term liabilities |
|
0.000 |
52.436 |
|
(d) long-term provisions |
|
157.769 |
126.712 |
|
Total Non-current
Liabilities (3) |
|
5713.148 |
3331.161 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
4581.767 |
5603.218 |
|
(b) Trade payables |
|
2762.678 |
4830.884 |
|
(c) Other current liabilities |
|
1732.498 |
2464.387 |
|
(d) Short-term provisions |
|
31.481 |
49.703 |
|
Total Current
Liabilities (4) |
|
9108.424 |
12948.192 |
|
|
|
|
|
|
TOTAL |
|
18459.160 |
21490.485 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4587.918 |
4798.856 |
|
(ii) Intangible Assets |
|
18.033 |
26.345 |
|
(iii) Capital work-in-progress |
|
427.651 |
419.463 |
|
(iv) Intangible assets under development |
|
41.796 |
38.348 |
|
(b) Non-current Investments |
|
471.834 |
472.534 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
524.254 |
581.222 |
|
(e) Other Non-current assets |
|
1788.715 |
1780.790 |
|
Total Non-Current
Assets |
|
7860.201 |
8117.558 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.500 |
0.000 |
|
(b) Inventories |
|
3705.799 |
5792.937 |
|
(c) Trade receivables |
|
4769.011 |
4988.529 |
|
(d) Cash and cash equivalents |
|
764.307 |
1137.485 |
|
(e) Short-term loans and advances |
|
1300.378 |
1364.556 |
|
(f) Other current assets |
|
58.964 |
89.420 |
|
Total Current
Assets |
|
10598.959 |
13372.927 |
|
|
|
|
|
|
TOTAL |
|
18459.160 |
21490.485 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
913.942 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
4131.486 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5045.428 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
6803.579 |
|
|
2] Unsecured Loans |
|
|
507.477 |
|
|
TOTAL BORROWING |
|
|
7311.056 |
|
|
DEFERRED TAX LIABILITIES |
|
|
365.277 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
12721.761 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4823.144 |
|
|
Capital work-in-progress |
|
|
448.164 |
|
|
Expenditure pending allocation, net |
|
|
19.879 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
462.866 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5268.012 |
|
|
Sundry Debtors |
|
|
6516.607 |
|
|
Cash & Bank Balances |
|
|
1245.827 |
|
|
Other Current Assets |
|
|
28.481 |
|
|
Loans & Advances |
|
|
1825.357 |
|
Total
Current Assets |
|
|
14884.284 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
6640.103 |
|
|
Other Current Liabilities |
|
|
1429.851 |
|
|
Provisions |
|
|
135.059 |
|
Total
Current Liabilities |
|
|
8205.013 |
|
|
Net Current Assets |
|
|
6679.271 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
OTHER ASSETS |
|
|
288.437 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
12721.761 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13046.529 |
18836.126 |
16090.023 |
|
|
|
Other Income |
210.062 |
108.797 |
475.317 |
|
|
|
TOTAL (A) |
13256.591 |
18944.923 |
16565.340 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
8353.831 |
14722.904 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and traded
goods |
1396.230 |
(1227.957) |
|
|
|
|
Employee benefit expenses |
1175.162 |
1252.365 |
|
|
|
|
Other expenses |
2227.601 |
2159.462 |
|
|
|
|
TOTAL (B) |
13152.824 |
16906.774 |
14667.212 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
103.767 |
2038.149 |
1898.128 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1847.663 |
1438.291 |
1342.348 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(1743.896) |
599.858 |
555.780 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
345.798 |
330.229 |
301.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE EXCEPTIONAL ITAMS AND TAX |
(2089.694) |
269.629 |
254.038 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS BEFORE TAX |
(27.626) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX (E-F) (G) |
(2117.320) |
269.629 |
254.038 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(79.477) |
85.120 |
51.369 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX (G-H) (I) |
(2037.843) |
184.509 |
202.669 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2196.356 |
2083.008 |
1946.762 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Proposed Dividend – Preference Shares |
NA |
0.450 |
0.450 |
|
|
|
Transfer to Proposed Dividend – Equity Shares |
NA |
18.179 |
13.634 |
|
|
|
Provision for Corporate Dividend Tax |
NA |
2.532 |
1.837 |
|
|
|
Transfer to General Reserve |
NA |
50.000 |
50.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
2196.356 |
2083.510 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
3058.129 |
2591.080 |
2126.560 |
|
|
|
Interest |
19.570 |
17.830 |
18.498 |
|
|
|
Other Income |
0.000 |
0.000 |
1.552 |
|
|
TOTAL EARNINGS |
3077.699 |
2608.910 |
2146.610 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2302.596 |
3560.769 |
3893.449 |
|
|
|
Stores & Spares |
27.684 |
69.304 |
31.260 |
|
|
TOTAL IMPORTS |
2330.280 |
3630.073 |
3924.709 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(22.42) |
2.02 |
2.22 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
15130.000 |
|
|
|
|
|
The above information has been parted by Mr. R K Rao
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(15.37)
|
0.97
|
1.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(16.23)
|
1.43
|
1.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.09)
|
1.31
|
1.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.58)
|
0.05
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.71
|
1.61
|
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.03
|
1.81 |
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 four 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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
80.000 |
0.000 |
|
Other loans and advances, others |
250.000 |
250.000 |
|
|
|
|
|
Total |
330.000 |
250.000 |
CONTINGENT
LIABILITIES:
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Towards Letters of Credit and Bank Guarantees |
10294.877 |
13618.405 |
|
Income Tax demands disputed by the Company |
22.889 |
54.326 |
|
Central Excise demands contested by the Company |
100.629 |
10.479 |
|
Sales Tax demands disputed by the Company |
64.233 |
2.217 |
|
Service Tax demands disputed by the Company |
15.247 |
21.378 |
|
Guarantees issued by the company on behalf of Subsidiaries |
14.983 |
13.099 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10366831 |
30/03/2013 * |
30,163,500,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B75976050 |
|
2 |
10294727 |
07/06/2011 * |
400,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B17309691 |
|
3 |
10276286 |
06/06/2011 * |
500,000,000.00 |
ANDHRA BANK |
SPECIALISED CORPORATE FINANCE BRANCH, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B15775844 |
|
4 |
10219298 |
18/02/2011 * |
350,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, C |
B08030918 |
|
5 |
10200497 |
14/08/2010 * |
500,000,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A92483478 |
|
6 |
10179599 |
14/08/2010 * |
400,000,000.00 |
LIFE INSURANCE CORPORATION OF INDIA |
CENTRAL OFFICE, INVESTMENT DEPARTMENT, 'YOGAKSHEMA, 6TH FLOOR,
WEST WING, JEEVANBIMA MARG, MUMBAI, |
A93313104 |
|
7 |
10163578 |
14/08/2010 * |
2,000,000,000.00 |
AXIS BANK LIMITED |
DOOR NO/ S. NO. 5-4-124/124 (OLD NO.8571), MODI SQUARE, R P ROAD, SECUNDERABAD, ANDHRA PRADESH - 50 0003, INDIA |
A91827261 |
|
8 |
10114010 |
14/08/2010 * |
500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
A94177524 |
|
9 |
10075789 |
14/08/2010 * |
400,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92464619 |
|
10 |
10073119 |
14/08/2010 * |
192,500,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE , COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A93983674 |
|
11 |
10063124 |
14/08/2010 * |
171,200,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92980028 |
|
12 |
10039060 |
14/08/2010 * |
315,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92465095 |
|
13 |
10028954 |
14/08/2010 * |
315,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTER ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92595677 |
|
14 |
10020386 |
14/08/2010 * |
290,000,000.00 |
Export Import Bank of India |
CENTRE ONE BUILDING, FLOOR21, WORLD TRADE CENTER COMPLEX, CUFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92988534 |
|
15 |
80048992 |
14/08/2010 * |
124,200,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92595511 |
|
16 |
80043867 |
14/08/2010 * |
130,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92988229 |
|
17 |
90259072 |
14/08/2010 * |
125,400,000.00 |
Export Import Bank of India |
CENTER ONE BUILDING, FLOOR NO. 21, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92595552 |
|
18 |
90258911 |
14/08/2010 * |
317,600,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTE R
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400 |
A95936951 |
|
19 |
90257091 |
29/03/2001 |
30,700,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE, WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
20 |
90259890 |
01/09/2000 |
211,000,000.00 |
ING VYSYA BANK LTD. |
SARDAR PATEL ROAD BRANCH, SECUNDERABAD, ANDHRA PRADESH, INDIA |
- |
|
21 |
90258361 |
29/03/2001 * |
4,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE, WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
|
|
22 |
90258176 |
06/05/1996 * |
55,300,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE, WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
|
|
23 |
90258109 |
10/09/2004 * |
100,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE, WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
|
|
24 |
90259686 |
06/05/1996 * |
30,000,000.00 |
STATE BANK OF INDIA |
BALANAGAR, HYDEDERABAD, ANDHRA PRADESH, INDIA |
|
|
25 |
90258088 |
31/05/1995 |
272,500,000.00 |
STATE BANK OF TRAVANCORE |
SECUNDERABAD, SECUNDERABAD, ANDHRA PRADESH, INDIA |
|
|
26 |
90258073 |
06/05/1996 * |
272,500,000.00 |
STATE BANK OF TRAVANCORE |
SECUNDERABAD BRANCH, SECUNDERABAD, ANDHRA PRADESH, |
|
|
27 |
90257493 |
10/09/2004 * |
4,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE, WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
|
|
28 |
90256948 |
05/03/1986 |
714,000.00 |
ANDHRA PRADESH STATE FINANCIAL CORP. |
CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
|
|
29 |
90257409 |
05/03/1986 |
1,080,000.00 |
ANDHRA PREDESH STATE FINANCIAL CORP. |
CHIRAG ALI LANE, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
|
|
30 |
90259406 |
14/03/1984 |
4,000,000.00 |
STATE BANK OF INDIA |
BALANAGAR BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
|
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
Intangible Assets
· Computer Software
· Patents
· Know-how
· Copyrights
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.61.92 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.