1. Summary Information
|
|
|
Country |
India |
|
Company Name |
AMARA RAJA
ELECTRONICS LIMITED |
Principal Name 1 |
Mr. Ramachandra Naidu Galla |
|
Status |
Moderate |
Principal Name 2 |
Mr. Jayadev Galla |
|
|
|
Registration # |
01-032257 |
|
Street Address |
Renigunta -
Cuddapah Road, Karakambadi, Tirupati – 517520, Andhra Pradesh, India |
||
|
Established Date |
09.08.1999 |
SIC Code |
-- |
|
Telephone# |
91-877-2265000 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-877-2285600 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
UPS |
|
|
# of employees |
Not Available |
Product Name 2 |
Auto |
|
Paid up capital |
Rs.
117,050,000/- |
Product Name 3 |
Converters |
|
Shareholders |
Directors or relatives of directors - 99.70 % Other top fifty shareholders - 0.30 % |
Banking |
State Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
15 year |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (36) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
India
|
Amara Raja Industrial Services Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
281,538,000 |
Current Liabilities |
268,045,000 |
|
Inventories |
346,617,000 |
Long-term Liabilities |
414,445,000 |
|
Fixed Assets |
430,450,000 |
Other Liabilities |
173,111,000 |
|
Deferred Assets |
0 |
Total Liabilities |
855,601,000 |
|
Invest& other Assets |
34,263,000 |
Retained Earnings |
120,217,000 |
|
|
|
Net Worth |
237,267,000 |
|
Total Assets |
1,092,868,000 |
Total Liab. & Equity |
1,092,868,000 |
|
Total Assets (Previous Year) |
776,290,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
2435,630,000 |
Net Profit |
112,954,000 |
|
Sales(Previous yr) |
1268,043,000 |
Net Profit(Prev.yr) |
(45,920,000) |
MIRA
INFORM REPORT
|
Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMARA RAJA ELECTRONICS LIMITED [w.e.f. 19.03.2009] |
|
|
|
|
Formerly Known As : |
AMARA RAJA ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Renigunta - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
09.08.1999 |
|
|
|
|
Com. Reg. No.: |
01-032257 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.117.050 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31402AP1999PLC032257 |
|
|
|
|
IEC No.: |
0904006913 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA02630F |
|
|
|
|
VAT / TIN : |
33811121936 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECA2774J |
|
|
|
|
Legal Form : |
A closely held a Public limited liability company. |
|
|
|
|
Line of Business : |
Manufacturer of Consumer Power Solution. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 950000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Amara Raja
Group. It is an established company having moderate track. The management is improving its
business profile marked by improved sales revenue and better profitability as
against a previous year loss. The company possesses and
average financial profile firmly supported by its promotors. Trade relations are fair.
Business is active. Payment terms are reported as slow but correct. In view of experienced
promotors, the subject can be considered for business dealings with some
caution. |
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
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra
topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn,
Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB - |
|
Rating Explanation |
Moderate risk of default regarding timely servcing of financial
obligations. |
|
Date |
19.09.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4 + |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
19.09.2013 |
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 DENIED
Management Non Co-operative
Contact No.: 91-877-2265000
LOCATIONS
|
Registered Office : |
Renigunta - |
|
Tel No.: |
91-877-2265000 |
|
Fax No.: |
91-877-2285600 / 2285599 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
|
|
Tel. No.: |
91-44-28213270 / 42910700 / 42910740 |
|
Fax No.: |
91-44-28284821 |
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-8573-283636 / 283789 |
|
Fax No.: |
91-8573-283836 |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Ramachandra Naidu Galla |
|
Designation : |
Director |
|
Address : |
Giridrushya Renigunta - |
|
Date of Birth/Age : |
01.06.1938 |
|
Date of Appointment : |
10.07.2012 |
|
DIN : |
00133761 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L31402AP1985PLC005305 |
AMARA RAJA
BATTERIES LIMITED |
Director |
01/09/2005 |
08/07/1985 |
- |
Active |
NO |
|
2 |
U31102AP1984PLC005165 |
AMARA RAJA POWER
SYSTEMS LIMITED |
Managing director |
19/06/2009 |
08/07/1985 |
- |
Active |
NO |
|
3 |
U15122AP1990PLC011932 |
MANGAL
INDUSTRIES LIMITED |
Director |
17/01/1994 |
17/01/1994 |
- |
Active |
NO |
|
4 |
U31402AP1999PLC032257 |
AMARA RAJA
ELECTRONICS LIMITED |
Director |
10/07/2012 |
09/08/1999 |
- |
Active |
NO |
|
5 |
U15134AP2004PLC042852 |
GALLA FOODS
LIMITED |
Director |
11/03/2004 |
11/03/2004 |
- |
Amalgamated |
NO |
|
6 |
U24111AP1988PLC009231 |
ANDHRA PRADESH
GAS POWER CORPORATION LIMITED |
Director |
29/09/2004 |
29/09/2004 |
- |
Active |
NO |
|
7 |
U74990AP2008PTC057464 |
AMARON BATTERIES
PRIVATE LIMITED |
Director |
06/02/2008 |
06/02/2008 |
- |
Active |
NO |
|
8 |
U40102AP2008PTC059398 |
Amara Raja Infra
Private Limited |
Director |
29/05/2008 |
29/05/2008 |
- |
Active |
NO |
|
9 |
U93000AP2009PTC064031 |
AMARA RAJA
INDUSTRIAL SERVICES PRIVATE LIMITED |
Director |
17/06/2009 |
17/06/2009 |
- |
Active |
NO |
|
10 |
U65993AP2010PTC066519 |
RNGalla Family
Holdings Private Limited |
Director |
01/01/2010 |
01/01/2010 |
- |
Active |
NO |
|
Name : |
Mr. Jayadev Galla |
|
Designation : |
Managin Director |
|
Address : |
House No. A-54, Road No. 11, Film Nagar, Jubilee Hills, Hyderabad –
500034, |
|
Date of Birth/Age : |
24.03.1966 |
|
Date of Appointment : |
10.07.2012 |
|
DIN : |
00143610 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31102AP1984PLC005165 |
AMARA RAJA POWER
SYSTEMS LIMITED |
Director |
14/08/1993 |
14/08/1993 |
- |
Active |
NO |
|
2 |
L31402AP1985PLC005305 |
AMARA RAJA
BATTERIES LIMITED |
Managing director |
01/09/2010 |
12/03/1994 |
- |
Active |
NO |
|
3 |
U15122AP1990PLC011932 |
MANGAL
INDUSTRIES LIMITED |
Director |
02/12/2000 |
02/12/2000 |
- |
Active |
NO |
|
4 |
U15134AP2004PLC042852 |
GALLA FOODS
LIMITED |
Managing
director |
01/04/2009 |
11/03/2004 |
- |
Amalgamated |
NO |
|
5 |
U31402AP1999PLC032257 |
AMARA RAJA
ELECTRONICS LIMITED |
Managing
director |
10/07/2012 |
07/06/2007 |
- |
Active |
NO |
|
6 |
U74990AP2008PTC057464 |
AMARON BATTERIES
PRIVATE LIMITED |
Director |
06/02/2008 |
06/02/2008 |
- |
Active |
NO |
|
7 |
U40102AP2008PTC059398 |
Amara Raja Infra
Private Limited |
Director |
29/05/2008 |
29/05/2008 |
- |
Active |
NO |
|
8 |
U93000AP2009PTC064031 |
AMARA RAJA
INDUSTRIAL SERVICES PRIVATE LIMITED |
Director |
17/06/2009 |
17/06/2009 |
- |
Active |
NO |
|
9 |
U65993AP2010PTC066519 |
RNGalla Family
Holdings Private Limited |
Director |
01/01/2010 |
01/01/2010 |
- |
Active |
NO |
|
10 |
U45209AP2013PTC088072 |
Nine Nines
Lifestyle Private Limited |
Director |
31/05/2013 |
31/05/2013 |
- |
Active |
NO |
|
Name : |
Ms. Ramadevi Gourineni |
|
Designation : |
Director |
|
Address : |
3420, |
|
Date of Birth/Age : |
22.09.1964 |
|
Date of Appointment : |
31.10.2000 |
|
DIN : |
01347211 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31402AP1999PLC032257 |
AMARA RAJA
ELECTRONICS LIMITED |
Director |
31/10/2000 |
31/10/2000 |
- |
Active |
NO |
|
2 |
U15122AP1990PLC011932 |
MANGAL
INDUSTRIES LIMITED |
Director |
31/10/2002 |
31/10/2002 |
- |
Active |
NO |
|
3 |
U31102AP1984PLC005165 |
AMARA RAJA POWER
SYSTEMS LIMITED |
Director |
31/10/2002 |
31/10/2002 |
- |
Active |
NO |
|
4 |
U15134AP2004PLC042852 |
GALLA FOODS
LIMITED |
Director |
22/11/2004 |
22/11/2004 |
- |
Amalgamated |
NO |
|
5 |
L31402AP1985PLC005305 |
AMARA RAJA
BATTERIES LIMITED |
Director |
22/06/2007 |
22/06/2007 |
14/08/2008 |
Active |
NO |
|
6 |
U85110AP2013PTC086624 |
G2 Healthcare
Private Limited |
Director |
26/03/2013 |
26/03/2013 |
- |
Active |
NO |
|
Name : |
Mr. Rajeev Karwal |
|
Designation : |
Director |
|
Address : |
1410A, |
|
Date of Birth/Age : |
11.04.1963 |
|
Date of Appointment : |
22.07.2009 |
|
DIN : |
01234017 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999DL2007PTC160165 |
Milagrow
Business & Knowledge Solutions Private Limited |
Director |
06/03/2007 |
06/03/2007 |
- |
Active |
NO |
|
2 |
U74899DL1993PLC055816 |
ONICRA CREDIT
RATING AGENCY OF INDIA LIMITED |
Additional
director |
22/05/2007 |
22/05/2007 |
29/09/2007 |
Active |
NO |
|
3 |
U72900GJ2000PTC038565 |
DEEPROOT LINUX
PRIVATE LIMITED |
Director |
01/01/2008 |
01/01/2008 |
- |
Active |
NO |
|
4 |
U74999KA2007PTC044745 |
Robhatah Robotic
Solutions Private Limited |
Director |
30/09/2008 |
10/07/2008 |
- |
Active |
NO |
|
5 |
U80301MH2009NPL192548 |
ACADEMY OF
INDIAN MARKETING PROFESSIONALS |
Director |
21/05/2009 |
21/05/2009 |
- |
Active |
NO |
|
6 |
U31402AP1999PLC032257 |
AMARA RAJA
ELECTRONICS LIMITED |
Director |
22/07/2009 |
19/06/2009 |
- |
Active |
NO |
|
7 |
AAA-5668 |
TORCH BEARER
MARKETING CONSULTANTS LLP |
Designated
Partner |
21/07/2011 |
21/07/2011 |
- |
Active |
NO |
|
Name : |
Mr. Adiseshaiah Chowdary Jakkampudi |
|
Designation : |
Additional Director |
|
Address : |
B 41, Naga Vihar, Hilla Ridge Villas, Gachibowli, Hyderabad – 500008,
Andhra Pradesh, India |
|
Date of Birth/Age : |
18.02.1955 |
|
Date of Appointment : |
13.09.2010 |
|
DIN : |
01109704 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U64203AP1999PTC032338 |
PORTALPLAYER
(INDIA) PRIVATE LIMITED |
Managing
director |
04/10/1999 |
04/10/1999 |
- |
Amalgamated |
NO |
|
2 |
U45200AP2001PLC038175 |
INDU PROJECTS
LIMITED |
Director |
07/12/2005 |
07/12/2005 |
28/09/2011 |
Active |
NO |
|
3 |
U01403AP2008PTC061625 |
NAGA AGROTECH
PRIVATE LIMITED |
Director |
31/10/2008 |
31/10/2008 |
- |
Active |
NO |
|
4 |
U64203HR2006PTC048191 |
Indyarocks Media
Services Private Limited |
Director |
04/01/2010 |
04/01/2010 |
17/03/2011 |
Active |
NO |
|
5 |
U72200AP2006PTC049075 |
CAVERA SYSTEMS
(INDIA) PVT LTD |
Director |
30/09/2010 |
01/02/2010 |
31/05/2011 |
Active |
NO |
|
6 |
U40108AP2010PTC067338 |
NEOSOLAR SYSTEMS
PRIVATE LIMITED |
Director |
03/03/2010 |
03/03/2010 |
- |
Strike off |
NO |
|
7 |
U31402AP1999PLC032257 |
AMARA RAJA
ELECTRONICS LIMITED |
Director |
13/09/2010 |
09/03/2010 |
- |
Active |
NO |
|
8 |
U80902AP2008PTC062284 |
TalentSprint
Private Limited |
Whole-time
director |
10/03/2010 |
10/03/2010 |
- |
Active |
NO |
|
9 |
U72200AP2000PTC034927 |
MONARCH INFO TECH
SERVICES PRIVATE LIMITED |
Director |
01/10/2010 |
01/10/2010 |
- |
Active |
NO |
|
10 |
U64200AP2011PTC072283 |
MOJOSTREET
INFOMEDIA SERVICES PRIVATE LIMITED |
Director |
28/09/2011 |
11/04/2011 |
- |
Active |
NO |
|
11 |
U72200AP2011PTC073902 |
Tenxlabs
Technologies Private Limited |
Director |
15/04/2011 |
15/04/2011 |
- |
Active |
NO |
|
12 |
U74120AP2012NPL081700 |
HYDERABAD ANGELS
FORUM FOR ENTREPRENEURSHIP DEVELOPMENT |
Director |
28/06/2012 |
28/06/2012 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Satish Kumar Uppalapati |
|
Designation : |
Secretory |
|
Address : |
Flat No. 505, Vishal Towers, Baghameer, Kuktpally, Hyderabad – 500072,
Andhra Pradesh, India |
|
Date of Birth/Age : |
16.08.1981 |
|
PAN No.: |
AQWPK4372P |
|
Date of Appointment : |
10.07.2012 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Amara Kumari Galla |
|
1579800 |
|
Jayadev Galla |
|
100100 |
|
Ramachandra Naidu Galla |
|
8650100 |
|
Ramadevi G |
|
100000 |
|
Ravindra Naidu |
|
10000 |
|
Sudhakar Naidu |
|
5000 |
|
W Prabhakar Naidu |
|
5000 |
|
W Vadrararajulu Naidu |
|
5000 |
|
Harshavardhana |
|
310000 |
|
Vikramaditya |
|
310000 |
|
Ashok Galla |
|
310000 |
|
Siddharth Galla |
|
310000 |
|
M. Latha |
|
10000 |
|
Total |
|
11705000 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
99.70 |
|
Other top fifty shareholders |
|
0.30 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Consumer Power Solution. |
|
|
|
|
|
|
Products : |
Item Code (ITC
Code) |
Product
Description |
|
850440.90 |
UPS |
|
|
850440.30 |
Auto |
|
|
|
850440.90 |
Converters |
|
|
940540.90 |
LED Lantern |
PRODUCTION STATUS AS On 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
UPS |
Nos. |
900000 |
172076 |
|
Converters, Inverters and SMR’s |
Nos. |
50000 |
29149 |
|
Battery Chargers |
Nos. |
10000 |
1226 |
|
LED Lantern |
Nos. |
200000 |
10666 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
[Rs. in million]
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
E. Phalguna Kumar and Company Chartered Accountants |
|
Address : |
599/2, Balaji Colony, Tirupati – 517520, |
|
Pan No.: |
AADSE1485A |
|
|
|
|
Associates : |
CIN No.:
U93000AP2009PTC064031 |
|
|
|
|
Enterprises
which are owned, or have
significant influence of or
are partners with Key
management personnel and
their relatives : |
CIN No.:
L31402AP1985PLC005305
CIN No.:
U31102AP1984PLC005165
CIN No.: U15122AP1990PLC011932
CIN No.:
U40102AP2008PTC059398 |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,000,000 |
Equity Share |
Rs.10/- Each |
Rs.140.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,705,000 |
Equity Share |
Rs.10/- Each |
Rs.117.050
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 |
|
117.050 |
117.050 |
|
(b) Reserves & Surplus |
|
120.217 |
7.263 |
|
(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) |
|
237.267 |
124.313 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
85.627 |
286.250 |
|
(b) Deferred tax liabilities
(Net) |
|
15.899 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
19.351 |
6.643 |
|
Total
Non-current Liabilities (3) |
|
120.877 |
292.893 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
328.818 |
86.928 |
|
(b) Trade payables |
|
197.094 |
183.540 |
|
(c) Other current liabilities |
|
157.212 |
82.192 |
|
(d) Short-term provisions |
|
51.600 |
6.424 |
|
Total
Current Liabilities (4) |
|
734.724 |
359.084 |
|
|
|
|
|
|
TOTAL |
|
1,092.868 |
776.290 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
430.450 |
441.326 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
34.218 |
5.643 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.045 |
0.045 |
|
(c) Deferred tax assets (net) |
|
0.000 |
19.388 |
|
(d) Long-term Loan and Advances |
|
3.639 |
0.754 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
468.352 |
467.156 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
346.617 |
149.430 |
|
(c) Trade receivables |
|
181.819 |
103.156 |
|
(d) Cash and cash equivalents |
|
5.684 |
3.174 |
|
(e) Short-term loans and
advances |
|
87.988 |
52.369 |
|
(f) Other current assets |
|
2.408 |
1.005 |
|
Total
Current Assets |
|
624.516 |
309.134 |
|
|
|
|
|
|
TOTAL |
|
1,092.868 |
776.290 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
92.050 |
|
|
2] Share Application Money |
|
|
25.000 |
|
|
3] Reserves & Surplus |
|
|
53.183 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
170.233 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
332.896 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
332.896 |
|
|
DEFERRED TAX LIABILITIES |
|
|
8.177 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
511.307 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
450.578 |
|
|
Capital work-in-progress |
|
|
2.622 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.045 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
209.944
|
|
|
Sundry Debtors |
|
|
203.776
|
|
|
Cash & Bank Balances |
|
|
1.746
|
|
|
Other Current Assets |
|
|
0.056
|
|
|
Loans & Advances |
|
|
68.827
|
|
Total
Current Assets |
|
|
484.349
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
387.543
|
|
|
Current Liabilities |
|
|
21.919
|
|
|
Provisions |
|
|
16.825
|
|
Total
Current Liabilities |
|
|
426.287
|
|
|
Net Current Assets |
|
|
58.062
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
511.307 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2435.630 |
1268.043 |
1195.312 |
|
|
|
Other Income |
5.008 |
2.369 |
2.147 |
|
|
|
TOTAL (A) |
2440.638 |
1270.412 |
1197.459 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1319.233 |
544.972 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
586.245 |
349.064 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(71.429) |
76.164 |
0.000 |
|
|
|
Consumption materials changes inventories |
0.000 |
0.000 |
908.826 |
|
|
|
Manufacturing service costs |
0.000 |
0.000 |
5.712 |
|
|
|
Employee related or benefit expenses |
123.862 |
106.448 |
102.949 |
|
|
|
Administrative selling other expenses |
0.000 |
0.000 |
147.279 |
|
|
|
Research development expenditure |
0.000 |
0.000 |
2.280 |
|
|
|
Other Expenses |
236.960 |
199.323 |
0.000 |
|
|
|
TOTAL (B) |
2194.871 |
1275.971 |
1167.046 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
245.767 |
(5.559) |
30.413 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
51.440 |
43.577 |
11.507 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
194.327 |
(49.136) |
18.906 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
26.378 |
24.086 |
7.941 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
167.949 |
(73.222) |
10.965 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
54.995 |
(27.302) |
7.766 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
112.954 |
(45.920) |
3.199 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.552 |
52.472 |
49.273 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
119.506 |
6.552 |
52.472 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
25.292 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.65 |
(4.04) |
0.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.63 |
(3.61) |
0.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.90 |
(5.77) |
0.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.86 |
(9.75) |
1.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.71 |
(0.59) |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.75 |
3.00 |
4.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.86 |
1.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
|
117.050 |
117.050 |
|
Reserves & Surplus |
|
7.263 |
120.217 |
|
Net
worth |
|
124.313 |
237.267 |
|
|
|
|
|
|
long-term borrowings |
|
286.250 |
85.627 |
|
Short term borrowings |
|
86.928 |
328.818 |
|
Total
borrowings |
|
373.178 |
414.445 |
|
Debt/Equity
ratio |
|
3.002 |
1.747 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1,195.312 |
1,268.043 |
2,435.630 |
|
|
|
6.085 |
92.078 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1,195.312 |
1,268.043 |
2,435.630 |
|
Profit After Tax |
3.199 |
(45.920) |
112.954 |
|
|
0.27% |
(3.62%) |
4.64% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation of
contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
--- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---- |
|
22] |
Litigations that
the firm / promoter involved in |
---- |
|
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 |
Performance:
The Company has recorded
a net revenue (excluding other income) of Rs. 2435.630 Millions as against Rs.
1268.043 Millions in the previous year, registering an impressive growth of
92%. The profit before tax and profit after tax for the financial year ended
March 31, 2013 was at Rs. 167.949 Millions and Rs. 112.954 Millions
respectively as against loss of Rs. 73.223 Millions in the previous financial
year. The financial year 2012-13 is a significant year in terms of the highest
turnover and profits in the history of the Company.
The strong demand
has been aided by severe power shortages across the South India during 2012-13.
Beyond this enabling factor, several internal initiatives as listed below have
helped the company to reap the benefits:
Strengthened the
tribal channel (addition of new channel partners / new territories as well as
replacement of non-performing channel Partners
Sale of HUPS
through private label programs under leading brands such as Amaron, Powerzone
(gaining access to markets other than South India)
Reinforced After
Sales service network to cater to increased sales.
Introduced new
products (Power Control Units) for Solar Segment.
Stabilized
internal processes in Production and Quality to meet the increased demand.
Optimized Supply
Chain related aspects (availability of Raw Material and Components, new
suppliers to cater to increased production, reduction in inventory levels).
Better working
capital management.
Expansion of manufacturing
capacity of HUPS to 1.200 Millions units per annum (commissioned during the
months of April/May 2013).
Additional
manufacturing infrastructure for catering to the Electronics System Design and
Manufacturing (ESDM) (commissioned during the months of April/May 2013).
Most of the above
initiatives would lead to better operating performance of the company in the
years to come.
Outlook:
The Company had
posted about 10% growth in revenues during Q1 of 2013-14 (compared to the same
period of previous financial year), despite the adverse business conditions,
triggered by early onset of monsoon across the country and also due
toreasonably pleasant summer conditions.
The Company has
already commenced supplies of Power Control Units to manufacturers of off-line
Solar PV systems. We expect this business to pick-up in the rest of the year.
Further, the company is already in discussions with more private label
players,who have pan-India presence.
The efforts shall
continue to stay optimally invested in Home UPS business in South India by
leveraging /reinforcing the channel partners andservice network as required.
Besides the HUPS
business, the company has already acquired few customers in ESDM segment and
executed the initial orders. The business from ESDM is expected to gain strong
momentum and the company is aiming to execute some major orders inthe second
half of FY 14.
The depreciation
of rupee against the dollar may impact the margins of the Company; however your
Company is optimistic of a positive growthin both top-line and bottom-line in
the ensuing year.
UNSECURED LOANS
(Rs. In Millions)
|
Particulars
|
31.03.2013 |
31.03.2012 |
|
Long term
borrowing |
|
|
|
Rupee term loan from others |
0.000 |
150.000 |
|
|
|
|
|
Short term borrowing
|
|
|
|
Loans repayable on demand from others |
270.000 |
0.000 |
|
|
|
|
|
Total |
270.000 |
150.000 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10418294 |
22/03/2013 |
50,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
B72760739 |
|
2 |
10086978 |
18/02/2014 * |
288,900,000.00 |
STATE BANK OF
INDIA |
SME BRANCH, NEW
BALAJI COLONY, AIR BYPASS ROAD, T |
B98709025 |
|
3 |
90129871 |
14/11/2012 * |
74,500,000.00 |
INDIAN BANK |
GANDHI ROAD,
TIRUPATI, Andhra Pradesh - 517501, IN |
B62777263 |
* Date of charge modification
Fixed Assets :
- Computers
- Land
- Building
- Furniture
- Office
Equipments
- Plant and
Machinery
- Vehicles
- Electrical
Installation
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 records 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.59.95 |
|
|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.