MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PAHARPUR COOLING TOWERS LIMITED |
|
|
|
|
Formerly Known
As : |
PAHARPUR COOLING TOWERS
PRIVATE LIMITED (w.e.f. 28.06.1971) PAHARPUR TIMBERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Paharpur House,
8/1/B, Diamond Harbour Road, Kolkata - 700027, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.10.1949 |
|
|
|
|
Com. Reg. No.: |
21-018363 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.84.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02005WB1949PLC018363 |
|
|
|
|
IEC No.: |
0288014715 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALP00231A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP8017C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cooling Towers,
Air-cooled Condensers and Air-cooled Heat Exchangers. |
|
|
|
|
No. of Employees
: |
1160 (In Office : 270 + In Factory: 800 + In Branch: 90) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (70) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects dominant market position in the industrial cooling-tower
segment in India supported by strong technical and execution capabilities,
strong financial risk profile and adequate liquidity position. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. The company can be considered good for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term: “AA” |
|
Rating Explanation |
Having high degree of safety regarding
timely servicing of financial obligation it carry very low credit risk. |
|
Date |
February 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. Vikram Swarup |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9831171260 |
|
Date : |
22.03.2014 |
LOCATIONS
|
Registered /
Corporate Office : |
Paharpur House, 8/
1/ B, Diamond Harbour Road, Kolkata - 700027, West Bengal, India |
|
Tel. No.: |
91-33-24792050/
2152/ 2153/ 24791976/ 40133000 |
|
Mobile No.: |
91-9831171260 (Mr. Vikram Mahendra Swarup) |
|
Fax No.: |
91-33-24792188/
40133499 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
48000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Plants /
Warehouse : |
5-A, Oil Installation Road, Kolkata - 700088, West Bengal, India Tel. No. 91-33-24391583/24396946 Fax. No. 91-33-24392041 E-Mail.: pctcalfac@paharpur.com 14, Diamond
Harbour Road, Vill Bhasa, Post Box Bishnupur, 24 Parganas, West Bengal, India
Tel. No.: 91-33-24531910-13 E-Mail: pctbhasa@paharpur.com Survey No. 350,
Nani Chirai, Taluka Bachau, Kutch - 370140, Gujarat, India Tel. No. 91-2836-285347 E-Mail.: pctkandla@paharpur.com Plot No. 9,
Industrial Area IV, Sahibabad, District Ghaziabad, Uttar Pradesh, India Tel. No. 91-120-24770531/24770120/24770119 Fax. No. 91-120-4770594 E-Mail.: pctsbd@paharpur.com Plot No. 19,
Industrial Area IV, Sahibabad, District 132, KV-I, GIDC,
Savli, Manjusar, Vadodara – 391775, Gujarat, India |
|
|
|
|
Overseas Office : |
Paharpur USA Inc. 165 S Union Blvd,
Suite 672 Lakewood, Co 80228, USA |
|
Tel. No.: |
+1-303-989 7200 |
|
Fax No.: |
+1-720-962 8400 |
|
E-Mail : |
|
|
Location : |
Leased |
|
|
|
|
Sales Offices: |
Located at · Bangalore · Chennai · Mumbai · New Delhi · Vadodara · Hyderabad |
|
|
|
|
Global Sales
Representatives: |
Located At: · Australia · Bangladesh · Egypt · Iran · Japan · Korea · Malaysia · New Zealand · Philippines · Saudi Arabia · Syria · UAE · Bahrain · Canada · Indonesia · Iraq · Jordan · Kuwait · Nepal · Oman · Qatar · Singapore · Thailand · USA · Italy |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Vikram Swarup |
|
Designation : |
Managing Director |
|
Address : |
2B, Judges Court Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
16.09.1948 |
|
Qualification : |
B. E. (Hons) |
|
Date of Appointment : |
14.07.1993 |
|
DIN No.: |
00163543 |
|
|
|
|
Name : |
Mr. Gaurav Swarup |
|
Designation : |
Managing Director |
|
Address : |
2B, Judges Court Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
21.11.1956 |
|
Qualification : |
B.E. (Mechanical), MBA ( |
|
Date of Appointment : |
14.07.1993 |
|
DIN No.: |
00374298 |
|
|
|
|
Name : |
Mrs. Gyan M. Swarup |
|
Designation : |
Director |
|
Address : |
2 B, Judges Court Road, Kolkata - 700027, West Bengal, India |
|
Date of Birth/Age : |
13.06.1924 |
|
Date of Appointment : |
17.03.2012 |
|
DIN No.: |
0310553 |
|
|
|
|
Name : |
Mr. Ratan Lal Gaggar |
|
Designation : |
Director |
|
Address : |
11, Lansdown Road, Kolkata – 700020, West Bengal, India |
|
Qualification : |
Senior Advocate |
|
Date of Appointment : |
30.12.1989 |
|
DIN No.: |
00322904 |
|
|
|
|
Name : |
Mr. Satya Brata Ganguly |
|
Designation : |
Director |
|
Address : |
5C, New Road, Alipore, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
23.10.1942 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
01838353 |
|
|
|
|
Name : |
Mr. Sumit Birendra Chandra Mazumdar |
|
Designation : |
Director |
|
Address : |
Arjun Enclave, Flat No.5A and 5B, 12C, Judges Court Road, Kolkata –
700027, West Bengal, India |
|
Date of Birth/Age : |
11.02.1948 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00116654 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Kumar Singhania |
|
Designation : |
Chief Finance Officer |
|
Address : |
FE 133, Sector III, |
|
Date of Birth/Age : |
02.11.1965 |
|
Date of Appointment : |
16.04.1996 |
|
PAN No.: |
AKUPS9019D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Estate of Late Mahendra Swarup |
127090 |
15.13 |
|
Gyan M. Swarup |
165900 |
19.75 |
|
Vikram Swarup |
155400 |
18.50 |
|
Gaurav Swarup |
155400 |
18.50 |
|
Bindu Vikram
Swarup |
8400 |
1.00 |
|
Parul Swarup |
8400 |
1.00 |
|
Jain Industrial and
Commercial Services Private Limited, |
210 |
0.03 |
|
Garima Private
Limited, |
42000 |
5.00 |
|
Mahendra Swarup
and Sons |
120500 |
14.35 |
|
Anand Swarup
Foundation, India |
56700 |
6.75 |
|
Total |
840000 |
100.00 |
%2005-Apr-2014_files/image014.gif)
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies
corporate |
5.03 |
|
Directors
or relatives of directors |
88.23 |
|
Other
top fifty shareholders |
6.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cooling Towers,
Air-cooled Condensers and Air-cooled Heat Exchangers. |
|
|
|
|
Products : |
·
Cooling Towers ·
Air Cooled Heat Exchangers · Air Cooled Condensers · Laminates · Renewable Energy |
|
|
|
|
Exports : |
|
|
Products : |
Cooling Towers, Air-cooled Condensers and Air-cooled Heat Exchangers. |
|
Countries : |
· Yemen · Oman · Japan · Srilanka · Jordan · Austria · Yugoslavia · Israel |
|
|
|
|
Imports : |
|
|
Products : |
· Raw Material for cooling towers · Wood (Douglas Fir) · Bearings |
|
Countries : |
· Korea · China · U.S.A. · Singapore · Japan |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS (AS ON 31.03.2011)
LICENSED CAPACITIES
Under
the Government of India's prevailing industrial policy, licensing is not
applicable to the Company's manufacturing activities in cooling towers, Heat exchangers,
HDPE/ PP woven sacks and flexible packaging products.
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Cooling tower |
No. |
2400 |
1284.000 |
|
Heat exchanger |
No |
700 |
639.000 |
|
Flexible
packaging products |
Tone |
6000 |
-- |
|
Wind Power |
MW |
40.7 |
44094915.070 |
|
Laminates |
Tone |
-- |
6012.310 |
|
Plastic Pouches |
Lakh Pcs |
-- |
2589.196 |
The installed
capacity of each class of products depends upon a number of variables including
product mix, name plate capacities, process cycle, thickness or gauge, etc. The
installed capacities are certified by Management
GENERAL INFORMATION
|
Customers : |
End Users · Associated Cement Companies Limited · Selco International · Philips Carbon Black Limited · Jai Balaji Sponge Limited · Chitra Biogas Energy Limited · E I D Parry · Nitin Spinners Limited · SLR STEELS Limited · Sambhav Energy Limited · Basai Steels Private Limited · Techpro Power Systems Limited · Concast Bengal Indust. Limited · Empee Sugar and Chemicals Limited · Shree Cement Limited ·
Tecpro Systems Limited ·
INA Naftaplin ·
Mitsui Engineering and Shipbuild ·
ZINCOX |
|
|
|
|
No. of Employees : |
1160 (In Office : 270 + In Factory: 800 + In Branch: 90) |
|
|
|
|
Bankers : |
· RBS Bank Limited, Azhimganj House, 7 Camac Street, Kolkata – 700017, West Bengal, India · BNP Paribas, Avani Signature, Office No.2, 3rd Floor, 91A/1, Park Street, Kolkata – 700016, West Bengal, India · Citibank NA, Kanak Building, 41, Jawaharlal Nehru Road, Kolkata - 700071, West Bengal, India · HDFC Bank Limited, Stephen House, 4D, BBD Bag (East), Kolkata – 700001, West Bengal, India · ICICI Bank Limited, Rasoi Court, 20, Sir R N Mukherjee Road, Kolkata – 700001, West Bengal, India · ING Vysya Bank Limited, Sikkim House, 4/1 Middleton Street, Kolkata – 700001, West Bengal, India · State Bank of India, Commercial Branch, 24, Park Street, Kolkata - 700016, West Bengal, India · Canara Bank, Prime Corporate Branch, 21, Camac Street, Kolkata – 700016, West Bengal, India · The Hongkong and Shanghai Banking Corporation Limited, 31, BBD Bagh, Dalhousie Square, Kolkata – 700001, West Bengal, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered
Accountants |
|
Address : |
14, Government
Place East, Kolkata - 700069, West Bengal, India |
|
Tel. No.: |
91-33-22481111/
1507/ 6962 |
|
Tele Fax No.: |
91-33-22486960 |
|
E-Mail: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL1894Q |
|
|
|
|
Subsidiaries : (As on 31.03.2012) |
· Selectopac Private Limited CIN No: U74899DL1980PTC010609 · Floeter India Retort Pouches Private Limited CIN No: U00313DL2005PTC140903 · Paharpur Pragnya Tech Park Private Limited CIN No: U45200WB2004PTC150912 · Paharpur Pragnya Realty Private Limited CIN No: U70109WB1996PTC078199 · Paharpur Asansol Proprieties Private Limited CIN No: U70200WB2010PTC141590 · Paharpur Mauritius Limited · Paharpur Natural Resource Pty Limited |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : (As on
31.03.2012) |
· Paharpur Corporation Limited CIN No: U24239WB1976PLC030739 · Unicast Private Limited CIN No: U74899DL1980PTC010611 · Unispanner Private Limited CIN No: U74899DL1981PTC011421 · Swadeshi Polytex Limited CIN No: L25209UP1970PLC003320 · Unifab Engineers · Melvin Powell Vanaspati and Eng Industries Limited CIN No: U29248WB1983PLC036013 · Hastera Credit Private Limited CIN No: U67120WB1994PTC061897 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
840000 |
Equity Shares |
Rs.100/- each |
Rs.84.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
84.000 |
84.000 |
|
(b) Reserves & Surplus |
|
14400.171 |
12626.739 |
|
(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) |
|
14484.171 |
12710.739 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1133.112 |
1662.586 |
|
(b) Deferred tax liabilities (Net) |
|
164.159 |
192.578 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
48.776 |
54.238 |
|
Total Non-current
Liabilities (3) |
|
1346.047 |
1909.402 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1415.272 |
1339.387 |
|
(b) Trade
payables |
|
1776.327 |
1411.806 |
|
(c) Other
current liabilities |
|
2671.132 |
3464.343 |
|
(d) Short-term
provisions |
|
168.734 |
121.468 |
|
Total Current
Liabilities (4) |
|
6031.465 |
6337.004 |
|
|
|
|
|
|
TOTAL |
|
21861.683 |
20957.145 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4496.805 |
4503.611 |
|
(ii)
Intangible Assets |
|
0.334 |
0.836 |
|
(iii)
Capital work-in-progress |
|
1.164 |
400.727 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
850.148 |
774.129 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1953.337 |
1984.186 |
|
(e) Other
Non-current assets |
|
877.877 |
775.289 |
|
Total Non-Current
Assets |
|
8179.665 |
8438.778 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
3099.833 |
3479.824 |
|
(b)
Inventories |
|
2144.865 |
1852.173 |
|
(c) Trade
receivables |
|
7045.596 |
6194.801 |
|
(d) Cash
and cash equivalents |
|
204.527 |
312.444 |
|
(e)
Short-term loans and advances |
|
1066.439 |
588.845 |
|
(f) Other
current assets |
|
120.758 |
90.280 |
|
Total
Current Assets |
|
13682.018 |
12518.367 |
|
|
|
|
|
|
TOTAL |
|
21861.683 |
20957.145 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
84.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
8100.471 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
8184.471 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
903.504 |
|
|
2] Unsecured Loans |
|
|
28.394 |
|
|
TOTAL BORROWING |
|
|
931.898 |
|
|
DEFERRED TAX LIABILITIES |
|
|
109.212 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9225.581 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2307.974 |
|
|
Capital work-in-progress |
|
|
271.831 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4127.275 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1681.315 |
|
|
Sundry Debtors |
|
|
4219.859 |
|
|
Cash & Bank Balances |
|
|
308.444 |
|
|
Other Current Assets |
|
|
1.234 |
|
|
Loans & Advances |
|
|
1223.899 |
|
Total
Current Assets |
|
|
7434.751 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1909.658
|
|
|
Other Current Liabilities |
|
|
2846.875 |
|
|
Provisions |
|
|
159.717 |
|
Total
Current Liabilities |
|
|
4916.250 |
|
|
Net Current Assets |
|
|
2518.501 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9225.581 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15550.910 |
14864.765 |
11586.809 |
|
|
|
Other Income |
554.662 |
414.579 |
625.138 |
|
|
|
TOTAL (A) |
16105.572 |
15279.344 |
12211.947 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
7516.972 |
7171.117 |
|
|
|
|
Other manufacturing, construction and operating expenses |
2933.660 |
2238.225 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
44.114 |
341.878 |
|
|
|
|
Purchases of Stock-in-Trade |
46.628 |
50.270 |
|
|
|
|
Employees benefits expense |
907.576 |
808.244 |
|
|
|
|
Other expenses |
1143.310 |
1157.863 |
|
|
|
|
TOTAL (B) |
12592.260 |
11767.597 |
9078.117 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
3513.312 |
3511.747 |
3133.830 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
297.230 |
258.983 |
68.530 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3216.082 |
3252.764 |
3065.300 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
666.853 |
533.981 |
305.583 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
2549.229 |
2718.783 |
2759.717 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
726.659 |
360.656 |
493.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1822.570 |
2358.127 |
2265.766 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10136.286 |
8076.959 |
6110.006 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
250.000 |
250.000 |
|
|
|
Proposed Dividend |
NA |
42.000 |
42.000 |
|
|
|
Tax on Dividend |
NA |
6.800 |
6.813 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
10136.286 |
8076.959 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
384.782 |
374.286 |
571.012 |
|
|
|
Other Earnings |
27.582 |
2.518 |
0.000 |
|
|
TOTAL EARNINGS |
412.364 |
376.804 |
571.012 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
939.219 |
523.815 |
607.888 |
|
|
|
Components and Spare Parts |
20.255 |
19.833 |
5.933 |
|
|
|
Capital Goods |
9.644 |
184.751 |
240.706 |
|
|
TOTAL IMPORTS |
969.118 |
728.399 |
854.527 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2169.73 |
2807.29 |
2697.34 |
|
%2005-Apr-2014_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.32 |
15.43 |
18.55
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.39 |
18.29 |
23.82
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.13 |
13.74 |
28.33
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.21 |
0.34
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.18 |
0.24 |
0.11
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27 |
1.98 |
1.51
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
84.000 |
84.000 |
|
Reserves & Surplus |
12626.739 |
14400.171 |
|
Net
worth |
12710.739 |
14484.171 |
|
|
|
|
|
long-term borrowings |
1662.586 |
1133.112 |
|
Short term borrowings |
1339.387 |
1415.272 |
|
Total
borrowings |
3001.973 |
2548.384 |
|
Debt/Equity
ratio |
0.236 |
0.176 |
%2005-Apr-2014_files/image016.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11586.809 |
14864.765 |
15550.910 |
|
|
|
28.290 |
4.616 |
%2005-Apr-2014_files/image018.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
11586.809 |
14864.765 |
15550.910 |
|
Profit |
2265.766 |
2358.127 |
1822.570 |
|
|
19.55% |
15.86% |
11.72% |
%2005-Apr-2014_files/image020.gif)
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 |
Yes |
|
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FIXED ASSETS:
· Land – Freehold
· Land- Leasehold
· Factory Building
· Non-Factory Building
· Plant and Machinery
· Office Equipment’s
· Furniture and Fixtures
· Vehicles
· Computer
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.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
70 |
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.