1. Summary Information
|
Country |
|
||
|
Company Name |
KIRBY BUILDING SYSTEMS INDIA LIMITED |
Principal Name 1 |
Mr. Thomas Samuel |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Urfan Sharif |
|
Registration # |
01-029787 |
||
|
Street Address |
Plot No. 8-15, Phase III, IDA Phashamyalaram, District
Medak – 502307, Andhra Pradesh |
||
|
Established Date |
20.07.1998 |
SIC Code |
-- |
|
Telephone# |
91-8455-224401 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-8455-224419 |
Business Style 2 |
Construction |
|
Homepage |
Product Name 1 |
Pre-Engineered Buildings Systems |
|
|
# of employees |
Not Divulged |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 517,079,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings
(100.00%) |
Banking |
State
Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
16 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(49) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Ultimate Holding company |
-- |
Almana Industries SAK |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,465,646,000 |
Current Liabilities |
1,719,601,000 |
|
Inventories |
823,484,000 |
Long-term Liabilities |
435,431,000 |
|
Fixed Assets |
762,599,000 |
Other Liabilities |
221,711,000 |
|
Deferred Assets |
181,552,000 |
Total Liabilities |
2,376,743,000 |
|
Invest& other Assets |
11,000 |
Retained Earnings |
1,339,470,000 |
|
|
|
Net Worth |
1,856,549,000 |
|
Total Assets |
4,233,292,000 |
Total Liab. & Equity |
4,233,292,000 |
|
Total Assets (Previous Year) |
4,240,889,000 |
|
|
|
P/L Statement as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
4,757,977,000 |
Net Profit |
265,173,000 |
|
Sales(Previous yr) |
4,303,090,000 |
Net Profit
(Prev.yr) |
83,470,000 |
MIRA INFORM REPORT
|
Report Date : |
02.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KIRBY BUILDING SYSTEMS INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 8-15, Phase III, IDA Phashamyalaram, District
Medak – 502307, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
20.07.1998 |
|
|
|
|
Com. Reg. No.: |
01-029787 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 517.079
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28100AP1998PLC029787 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDK00681C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK0239M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Construction of Pre-Engineered Building Systems and also provides designing, drafting and engineering services for construction of Pre-Engineered Buildings. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7426000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Management of the company has failed to file its financial for the
year 2013 with the government department. As per available financial of 2012, financial position of the company
seems to be decent. However, trade relations are fair. Business is active. Payments are
reported to be usually correct. 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from
$31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 DECLINED BY
|
Name : |
Mr. Praveen Pandey |
|
Designation : |
Secretary |
|
Contact No.: |
91-1334-235317 |
|
Date : |
29.03.2014 |
LOCATIONS
|
Registered/ Regional/ Head Office/ Factory 1 : |
Plot No. 8-15, Phase III, IDA Phashamyalaram, District Medak
– 502307, Andhra Pradesh, India |
|
Tel. No.: |
91-8455-224401/ 02/ 03/ 04 |
|
Fax No.: |
91-8455-224419 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Plot 2, Sector 11, Integrated Industrial Estate, Haridwar - 249403, Uttarakhand, India |
|
Tel. No.: |
91-1334-235317/ 18/ 19 |
|
Fax No.: |
91-1334-235314 |
|
|
|
|
Sales Offices : |
Located at: v Ahmedabad v Baroda v Indore v Mumbai v Pune v Bellary v Coimbatore v Chennai v Madurai v Cochin v Bangalore v Hyderabad v Kakinada v Vizag v Bhubaneshwar v Kolkata v Jamshedpur v Bhopal v Jaipur v Noida v Delhi v Haridwar v Chandigarh v Pantnagar |
DIRECTORS
AS ON 21.06.2013
|
Name : |
Mr. Dodle Raju |
||||||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||||||
|
Address : |
Flat No. 201, C Block, Landmark Residency, Madinaguda Miyapur,
Hyderabad – 500049, Andhra Pradesh, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
10.08.1957 |
||||||||||||||||||||||||
|
Qualification : |
B.E., MBA |
||||||||||||||||||||||||
|
Experience : |
31 Years |
||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2011 |
||||||||||||||||||||||||
|
DIN No.: |
02579249 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Thomas Samuel |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Athi Nilkunnathil, Hill Villa Edapally, Cochin – 682024, Kerala, India
|
||||||||||||||||||||||||
|
Date of Birth/Age : |
16.09.1945 |
||||||||||||||||||||||||
|
Qualification : |
BSC |
||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2005 |
||||||||||||||||||||||||
|
DIN No.: |
00586609 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Robert H A Farrow |
||||||||||||||||||||||||
|
Designation : |
Additional director |
||||||||||||||||||||||||
|
Address : |
House 19 B, Plot 285, Building 4, Street 1, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1957 |
||||||||||||||||||||||||
|
Date of Appointment : |
25.05.2010 |
||||||||||||||||||||||||
|
DIN No.: |
03090416 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
K.G. Philipose |
||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||
|
Address : |
703, C Block, Bhvya Anandam Apartment, Nizampet Road, Kukatpally,
Hyderabad – 500085, Andhra Pradesh, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
25.05.1967 |
||||||||||||||||||||||||
|
Qualification : |
B.E. Mechanical |
||||||||||||||||||||||||
|
Experience : |
22 Years |
||||||||||||||||||||||||
|
Date of Appointment : |
28.06.2013 |
||||||||||||||||||||||||
|
DIN No.: |
06548278 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Nandamuri Ajaya Babu |
|
Designation : |
Secretary |
|
Address : |
108, Block B, Mahalakshmi Estate, Nizampet Road, Kukatpally, Hyderabad
– 500085, Andhra Pradesh, India |
|
Date of Birth/Age : |
16.06.1962 |
|
Date of Appointment : |
01.05.2006 |
|
PAN No.: |
AAMPN7001N |
|
|
|
|
Name : |
Mr. Praveen Pandey |
|
Designation : |
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.06.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Alghanim Industries (Mauritius) Limited, Mauritius |
|
39999940 |
|
Alghanim Yousuf Kutayba |
|
10 |
|
Alghanim Bassam |
|
10 |
|
Alghanim K Omar |
|
10 |
|
Alghanim K Waleed |
|
10 |
|
Alghanim M K Samar |
|
10 |
|
Alghanim Industries WLL, |
|
10 |
|
|
|
|
|
Total |
|
40000000 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Alghanim Industries (Mauritius) Limited, Mauritius |
|
1170790 |
|
|
|
|
|
Total |
|
1170790 |
AS ON 21.06.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Construction of Pre-Engineered Building Systems and also provides designing, drafting and engineering services for construction of Pre-Engineered Buildings. |
||||
|
|
|
||||
|
Products/ Services : |
|
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity (Quantity) |
Actual
Production (Quantity) |
|
|
|
|
|
|
|
Pre-Engineered Buildings |
MT |
NA |
115000 |
54387* |
|
|
|
|
|
|
Note:
* Includes work in progress of 4730 MT
(31.12.2010: 5079 MT)
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
v Standard Chartered Bank TSR Towers, 6-3-1090, Raj Bhavan Road, Somajiguda,, Hyderabad - 500082, Andhra Pradesh, India v Punjab National Bank Patancheru Branch, Medak District - 502319, Andhra Pradesh, India v The Hongkong and Shanghai Banking Corporation Limited 6-3-1107 and 1108, Raj Bhavan Road, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India v State Bank of Hyderabad Icrisat Branch (20106), Patancheru, Patancheru - 502319, Andhra Pradesh, India v State Bank of India Commercial Branch, Bank Street, Koti, Hyderabad -
500095, v Axis Bank Limited Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
v 3i Infotech Trusteeship Services Limited 3rd to 6th floor, International Infotech Park, Tower No.5,
Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra,
India |
|
|
|
|
Auditors : |
|
|
Name : |
SR Batliboi and Associates LLP Chartered Accountants |
|
Address : |
22, Camac Street, Block C, 3rd Floor, Kolkata - 700016, West
Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
|
|
|
Ultimate Holding
company : |
Almana Industries SAK |
|
|
|
|
Holding company : |
v Kuwait Insulating Material Manufacturing Company S.A.K v Alghanim
Industries (Mauritius) Limited |
|
|
|
|
Fellow Subsidiary
company : |
v Rockwool India Limited v Kirby
Building Systems (Uttaranchal) India Private Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
v Kirby Building Systems - Kuwait S.A.K. v Kirby Building Systems - (UAE) L.L.C v Yusuf A. Alghanim and Sons W.L.L v Kirby South East Asia v Kirby Construction Company Private Limited v Kirby International Pte Limited |
CAPITAL STRUCTURE
AS ON 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
88,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 880.000 Millions |
|
1,200,000 |
Preference Shares |
Rs. 100/- each |
Rs. 120.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000
Millions |
|
1,170,790 |
Preference Shares |
Rs. 100/- each |
Rs. 117.079
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 517.079 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
517.079 |
517.079 |
|
(b) Reserves & Surplus |
|
1339.470 |
1077.544 |
|
(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) |
|
1856.549 |
1594.623 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
20.078 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
479.981 |
480.116 |
|
(d)
long-term provisions |
|
58.557 |
68.551 |
|
Total
Non-current Liabilities (3) |
|
538.538 |
568.745 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
435.431 |
49.443 |
|
(b)
Trade payables |
|
757.770 |
832.171 |
|
(c)
Other current liabilities |
|
481.850 |
1051.385 |
|
(d)
Short-term provisions |
|
163.154 |
144.522 |
|
Total
Current Liabilities (4) |
|
1838.205 |
2077.521 |
|
|
|
|
|
|
TOTAL |
|
4233.292 |
4240.889 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
754.428 |
809.410 |
|
(ii)
Intangible Assets |
|
8.171 |
21.801 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.437 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.011 |
0.011 |
|
(c) Deferred tax assets
(net) |
|
181.552 |
221.058 |
|
(d) Long-term Loan
and Advances |
|
727.582 |
483.599 |
|
(e)
Other Non-current assets |
|
0.000 |
27.646 |
|
Total
Non-Current Assets |
|
1671.744 |
1563.962 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
823.484 |
764.248 |
|
(c)
Trade receivables |
|
1041.111 |
825.549 |
|
(d)
Cash and cash equivalents |
|
8.456 |
204.812 |
|
(e)
Short-term loans and advances |
|
113.780 |
163.869 |
|
(f)
Other current assets |
|
574.717 |
718.449 |
|
Total
Current Assets |
|
2561.548 |
2676.927 |
|
|
|
|
|
|
TOTAL |
|
4233.292 |
4240.889 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
517.079 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
997.478 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1514.557 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
280.338 |
|
|
2] Unsecured Loans |
|
|
111.818 |
|
|
TOTAL BORROWING |
|
|
392.156 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1906.713 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
911.213 |
|
|
Capital work-in-progress |
|
|
0.050 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.011 |
|
|
DEFERREX TAX ASSETS |
|
|
275.102 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
754.754
|
|
|
Sundry Debtors |
|
|
918.893
|
|
|
Cash & Bank Balances |
|
|
347.028
|
|
|
Other Current Assets |
|
|
261.874
|
|
|
Loans & Advances |
|
|
574.593
|
|
Total
Current Assets |
|
|
2857.142
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
617.593
|
|
|
Other Current Liabilities |
|
|
1313.823
|
|
|
Provisions |
|
|
205.389
|
|
Total
Current Liabilities |
|
|
2136.805
|
|
|
Net Current Assets |
|
|
720.337
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1906.713 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4757.977 |
4303.090 |
3286.448 |
|
|
|
Income from Services |
0.000 |
0.000 |
46.923 |
|
|
|
Other Income |
34.485 |
52.780 |
303.771 |
|
|
|
TOTAL (A) |
4792.462 |
4355.870 |
3637.142 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2810.946 |
2597.550 |
1891.290 |
|
|
|
Accessories Consumed |
-- |
-- |
213.606 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
16.905 |
9.482 |
51.500 |
|
|
|
Employees benefits expense |
478.153 |
516.873 |
440.127 |
|
|
|
Other expenses |
949.599 |
925.318 |
585.224 |
|
|
|
Selling and Distribution Expenses |
-- |
-- |
152.155 |
|
|
|
TOTAL (B) |
4255.603 |
4049.223 |
3333.902 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
536.859 |
306.647 |
303.240 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
79.865 |
78.444 |
97.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
456.994 |
228.203 |
205.961 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
80.596 |
87.394 |
108.622 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
376.398 |
140.809 |
97.339 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
111.225 |
57.339 |
(51.913) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
265.173 |
83.470 |
149.252 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
43.480 |
26.981 |
|
|
|
Export Sales |
|
29.924 |
10.720 |
|
|
|
|
|
0.000 |
10.376 |
|
|
TOTAL EARNINGS |
NA
|
73.404 |
48.077 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3.927 |
26.859 |
|
|
|
Accessories |
|
31.859 |
7.831 |
|
|
|
Stores and Spares |
|
18.288 |
18.264 |
|
|
|
Capital Items |
|
1.736 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
55.810 |
52.954 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
6.45 |
1.91 |
0.60 |
|
|
|
Diluted
|
6.45 |
1.91 |
0.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
5.53 |
1.92 |
4.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.91 |
3.27 |
2.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.29 |
3.50 |
2.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.09 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23 |
0.04 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.29 |
1.34 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
517.079 |
517.079 |
|
Reserves & Surplus |
1077.544 |
1339.470 |
|
Net
worth |
1594.623 |
1856.549 |
|
|
|
|
|
long-term borrowings |
20.078 |
0.000 |
|
Short term borrowings |
49.443 |
435.431 |
|
Total
borrowings |
69.521 |
435.431 |
|
Debt/Equity
ratio |
0.044 |
0.235 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3286.448 |
4303.090 |
4757.977 |
|
|
|
30.934 |
10.571 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3286.448 |
4303.090 |
4757.977 |
|
Profit |
149.252 |
83.470 |
265.173 |
|
|
4.54% |
1.94% |
5.57% |
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 |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10415012 |
05/08/2013 * |
120,000,000.00 |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
6-3-1107 & 1108, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD - 500082, ANDHRA PRADESH, INDIA |
B82022641 |
|
2 |
10138151 |
05/08/2013 * |
280,000,000.00 |
STATE BANK OF HYDERABAD |
ICRISAT BRANCH (20106), PATANCHERU, PATANCHERU - 502319, ANDHRA PRADESH, INDIA |
B81794380 |
|
3 |
10131552 |
08/10/2008 |
570,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
BANK STREET, KOTI, HYDERABAD - 500095, |
A51688182 |
|
4 |
10110039 |
05/08/2013 * |
470,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK
STREET, KOTI, HYDERABAD - 500095, |
B81971848 |
|
5 |
10111925 |
05/08/2013 * |
1,530,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA |
B81730277 |
|
6 |
10115735 |
05/08/2013 * |
1,310,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B81971079 |
|
7 |
90139434 |
21/10/2004 * |
168,200,000.00 |
STATE BANK OF HYDERABAD |
ICRISAT (PATANCHERU) BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
8 |
90139425 |
05/12/2003 |
153,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
BANK STREET, KOTI, HYDERABAD - 500095, |
- |
|
9 |
90138423 |
15/09/2004 * |
50,000,000.00 |
UTI BANK LIMITED |
6-3-879/B, GREENLANDS ROAD; BEGUMPET, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
10 |
90139365 |
08/08/2002 |
30,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
BANK STREET, KOTI, HYDERABAD - 500095, |
- |
|
11 |
90139287 |
07/02/2001 * |
30,000,000.00 |
ICICI LIMITED |
ICICI TOWERS, BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA, INDIA |
- |
|
12 |
90138216 |
06/03/2007 * |
2,600,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
BANK STREET, KOTI, HYDERABAD - 500095, |
- |
|
13 |
90140162 |
29/12/2005 * |
120,000,000.00 |
ICICI BANKING CORPORATION LIMITED |
TGV MANSION ; 6 - 2 - 1012, KHAIRATABAD, HYDERABAD - 500004, ANDHRA PRADESH, INDIA |
- |
|
14 |
90138168 |
24/09/2001 * |
300,000,000.00 |
ICICI LIMITED |
ICICI TOWERS, BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.12.2012 (Rs.
In Millions) |
31.12.2011 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from Banks |
300.000 |
0.000 |
|
Deferred payment liabilities |
0.000 |
35.851 |
|
|
|
|
|
Total |
300.000 |
35.851 |
CORPORATE
INFORMATION:
Subject is engaged in the business of manufacture and construction of Pre-Engineered Building Systems. Further, the Company provides designing, drafting and engineering services for construction of Pre-Engineered Buildings.
PERFORMANCE:
The Company has achieved turnover of Rs.4792.400 Millions
during the year ending 31.12.2012 as against the gross turnover of 4518.400
Millions during the previous year ending 31.12.2011. As against the profit of
Rs.83.500 Millions during the previous year (YE 31.12.2011), the Company earned
a profit of Rs.265.200 Millions during the current year (YE 31.12.2012).
Profitability for the year 2012 improved due to higher volumes, better margins
and cost reduction programs taken up by the company.
CURRENT YEAR (YE
31.12.2013) OUTLOOK:
With the slowing down of the economy, volumes and margins
are under strain but your directors are confident that the performance will
improve towards the second half of the year.
FINANCE:
The Company has honored all its financial commitments on the
respective due dates and maintained cordial relationship with the financial
institutions and banks.
CONTINGENT
LIABILITIES:
|
Particulars |
31.12.2012 (Rs.
In Millions) |
31.12.2011 (Rs.
In Millions) |
|
Corporate guarantees outstanding |
462.532 |
1004.577 |
|
Claim against the Company not acknowledged as debts |
52.389 |
39.151 |
|
Customers bills discounted |
2.980 |
0.000 |
|
Guarantees issued by bankers on behalf of the Company
toward performance obligations |
312.602 |
333.538 |
|
Arrears of fixed cumulative dividend on 5% cumulative
redeemable preference shares (Inclusive of taxes) |
75.197 |
68.209 |
|
Income tax for the assessment year 2006-2007 * |
72.730 |
72.730 |
|
Income tax for the assessment year 2007-2008 * |
98.935 |
98.935 |
|
Income tax for the assessment year 2008-2009 * |
82.615 |
66.346 |
|
Fuel surcharge arrears for the period April 2009 to March
2012 |
6.451 |
0.000 |
|
Central sales tax |
318.912 |
318.912 |
|
Value added tax |
0.260 |
0.260 |
|
|
|
|
|
Total |
1485.603 |
2002.658 |
|
Note: * Does not include
interest to the extent not ascertained in the respective orders. The management is
confident that for the above mentioned contingent liabilities, no provision is
required to be made as at December 31, 2012 and December 31, 2011. |
||
FIXED ASSETS:
v Land
v Buildings
v Other building
v Plant and equipment
v Other plant and equipment
v Furniture and fixtures
v Vehicles
v Motor vehicles
v Computer equipments
v Other equipments
v Computer software
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. 60.10 |
|
|
1 |
Rs. 99.85 |
|
Euro |
1 |
Rs. 82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.