MIRA
INFORM REPORT
|
Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED (w.e.f. 08.12.2011) |
|
|
|
|
Formerly Known
As : |
SMARTGRID AUTOMATION DISTRIBUTION AND SWITCHGEAR LIMITED |
|
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Registered
Office : |
Milestone 87, Vadodara, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.03.2011 |
|
|
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|
Com. Reg. No.: |
04-064420 |
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Capital
Investment / Paid-up Capital : |
Rs.478.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31900GJ2011PLC064420 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAPCS6078Q |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
Line of Business
: |
The company is engaged in the business of Manufacturing, Designing,
Building and Servicing Technologically Advanced Products and Systems for
Electricity Distribution Including Products such as Distribution
Transformers, Medium Voltage Switchgears, Medium and Low Voltage Protection
Relays and Electricity Distribution and Automation Equipments. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
sStatus : |
Satisfactory |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “SCHNEIDER ELECTRIC GROUP”, France. It is an
established company having satisfactory track. The company possesses a deteriorating financial profile marked by
modest albeit decreasing position of reserves as a result of consecutive loss
for past two years. More over the increase in gearing and high other current liabilities
along with deterioration in its cash balance may slightly affected its
liquiding profile during FY 14. The ratings also take into consideration the all-time high share price
quoted at the Indian stock exchanges by the company as on July 01, 2014. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of the subject being in embryonic stage, along with the strong
support from its group company, the subject can be considered 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Ramesh Chan |
|
Designation : |
Finance Department |
|
Contact No.: |
91-120-3940400 |
LOCATIONS
|
Registered Office : |
Milestone 87, Vadodara, Halol Highway, Village Kotambi, Post Office Jarod,
Vadodara – 391510, Gujarat, India |
|
Tel. No.: |
91-120-3940400 / 3898703 |
|
Fax No.: |
91-120-3898700 |
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E-Mail : |
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Website : |
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Corporate Office : |
7th Floor, Tower 3, IGL Complex, Plot 2B Sector 126, Noida
– 201304, Uttar Pradesh, India |
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Factory 1: |
Naini Works, P. O. Naini, Allahabad – 211006, Uttar Pradesh, India |
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Tel. No.: |
91-532-2699990 |
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Fax No.: |
91-532-2699990 |
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Factory 2: |
Survey No. 215, Gagilapur Village, Qutbullapur Mandal. District
Rangareddy, Hyderabad – 500043, Andhra Pradesh, India |
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Factory 3 : |
PSS – 58, MIDC Satpur, Nasik – 422007, Maharashtra, India |
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Branch Office : |
Technopolis, 3rd Floor, Block BP, Sector V, Salt Lake City,
Kolkata – 700091, West Bengal, India |
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Regional Office : |
Located At: ·
Noida ·
Kolkata ·
Mumbai ·
Chennai |
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|
Branch Offices : |
Located At: ·
Jaipur ·
Lucknow ·
Bhuneshwar ·
Guwahati ·
Pune ·
Vadodara ·
Ahmedabad ·
Bangalore ·
Secunderabad |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Vinod Kumar Dhall |
|
Designation : |
Chairman (Non-Executive) |
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|
|
|
Name : |
Mr. Prakash Kumar Chandraker |
|
Designation : |
Managing Director |
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|
Name : |
Mr. Olivier Blum |
|
Designation : |
Director (Upto 01.03.2013 |
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|
Name : |
Mr. Anil Chaudhry |
|
Designation : |
Director |
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|
Name : |
Mr. Ranjan Pant |
|
Designation : |
Director |
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|
Name : |
Mr. Alexandre Tagger |
|
Designation : |
CFO and Whole Time Director |
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|
|
|
Name : |
Mr. Rajani Kesari |
|
Designation : |
Director (w.e.f. 22.05.2013) |
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|
|
|
Name : |
Mr. V S Vsudevan |
|
Designation : |
Director (w.e.f. 11.03.2013) |
KEY EXECUTIVES
|
Name : |
Mr. C. S. Ashok Kumar |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
168735367 |
70.57 |
|
|
168735367 |
70.57 |
|
|
|
|
|
|
10592659 |
4.43 |
|
|
10592659 |
4.43 |
|
Total shareholding
of Promoter and Promoter Group (A) |
179328026 |
75.00 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
13875405 |
5.80 |
|
|
16335 |
0.01 |
|
|
605 |
0.00 |
|
|
8055807 |
3.37 |
|
|
413325 |
0.17 |
|
|
22361477 |
9.35 |
|
|
|
|
|
|
12121587 |
5.07 |
|
|
|
|
|
|
19786539 |
8.28 |
|
|
3551226 |
1.49 |
|
|
1955180 |
0.82 |
|
|
522923 |
0.22 |
|
|
405 |
0.00 |
|
|
4415 |
0.00 |
|
|
1427437 |
0.60 |
|
|
37414532 |
15.65 |
|
Total Public
shareholding (B) |
59776009 |
25.00 |
|
Total (A)+(B) |
239104035 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
239104035 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of Manufacturing, Designing,
Building and Servicing Technologically Advanced Products and Systems for Electricity
Distribution Including Products such as Distribution Transformers, Medium
Voltage Switchgears, Medium and Low Voltage Protection Relays and Electricity
Distribution and Automation Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S.R Batliboi and Company Chartered Accountants |
|
Address : |
Golf View, Corporate Tower B, Sector 42, Sector Road, Gurgaon - 122002,
Haryana-, India |
|
|
|
|
Holding Company: |
Alstom Grid SAS, France (Upto March 28, 2012), Energy Grid Automation
Transformers and Switchgears India Limited (w.e.f. March 28, 2012) |
|
|
|
|
Ultimate Holding Company: |
Alstom Sextant 5 SAS, France a special purpose vehicle formed with
Alstom Holdings and Schneider Electric Services International (Upto March 28,
2012) |
|
|
|
|
Parent of holding company and Others |
T and D Holding, France (parent of holding company) (upto March 28,
2012) Long and Crawford Limited (along with other promoters) (upto March 28,
2012) |
|
|
|
|
Subsidiary company: |
Energy Grid Automation Transformers and Switchgears India Limited (Upto
January5, 2012) |
|
|
|
|
Fellow
Subsidiaries : |
·
Schneider Electric India Private Limited, India ·
Schneider Electric Huadian Switchgear, China ·
Schneider Electric Protectionale, France ·
Schneider Electric East Mediterranean S.A.L,
Jordan ·
Alstom T&D India Limited, India (Upto
February 14, 2013) ·
Schneider Electric Brasil Limiteda., Brazil ·
Schneider Electric Sachsenwerk Gmbh, Germany ·
Areva Energietechnik Gmbh, Germany (Upto February
14, 2013) ·
Schneider Electric Energy, France ·
Schneider Electric Taiwan Company, Limited.,
Taiwan ·
Schneider Electric Industries SAS, France ·
Alstom Switchgear, South Africa (Upto February
14, 2013) ·
Schneider Electric Service International Sprl,
Belgium ·
Schneider Electric Energy De, Columbia ·
Schneider Electric Energy UK Limited, UK ·
Schneider Electric It Business India Private
Limited, India ·
Schneider Electric Energy Poland Sp. Z O.O., ·
Poland Schneider Electric Mexico, Mexico ·
Schneider Electric Australia Pty Limited,
Australia ·
Areva Solar India Private Limited, India (Upto
February 14, 2013) ·
Schneider Electric Industries, Malaysia ·
Areva T&D Uk Limited Systems Produ, Uk (Upto
February 14, 2013) ·
Schneider Electric Energy, Italy ·
Schneider Electric Sri Lanka( Private) Limited,
Sri Lanka ·
Schneider Switchgear (Suzhou) Company Limited, ·
China Alstom Transport SA, France (Upto February
14, 2013) ·
Alstom S A Transport Tarbes, France (Upto
February 14, 2013) ·
Schneider Electric Vietnam., Limited, Vietnam ·
Schneider Electric Nigeria Limited., Nigeria ·
Schneider Electric (China) Investment Company
Limited., Shanghai, China ·
Schneider Electric Canada Inc., Canada ·
Schneider Electric D.O.O., Croatia ·
Schneider Electric Sa, Uae Alstom Grid Sas,
France (Upto February 14, 2013) ·
Alstom Projects India Limited, India (Upto February
14, 2013) ·
Schneider Electric Sa, South Africa ·
Schneider Enerji Endustri, Turkey ·
Areva T&D Australia Limited, Australia (Upto
February 14, 2013) ·
Schneider Electric Ftr, France ·
Alstom Grid Pte Limited, Singapore (Upto February
14, 2013) ·
Areva T&D Sas, France (Upto February 14,
2013) ·
Alstom Grid Italy S.P.A., Italy (Upto February
14, 2013) ·
Alstom Grid Uk Limited, (Upto February 14, 2013) ·
Power Measurement Limited, Canada ·
Schneider Electric Telecontrol, France ·
Areva Renewable Energies Limited, India (Upto
February 14, 2013) ·
Areva Ert Tanzania, Tanzania (Upto February 14,
2013) ·
Schneider Electric(China), China ·
Schneider-Electric Energy, ·
Schneider Electric, Indonesia ·
Shanghai Schneider Electric Power Automation
Company,Limited, China ·
Areva Suzhou High Voltage, Suzhou, China (Upto
February 14, 2013) ·
Areva T&D Enerji Endustrisi A.S.Turkey (Upto
February 14, 2013) ·
Areva T&D Malaysia Sdn Bhd-215632V, Malaysia
(Upto February 14, 2013) |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.478.200 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.2/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
239104035 |
Equity Shares |
Rs.2/- each |
Rs.478.210 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
478.200 |
478.210 |
478.210 |
|
(b) Reserves & Surplus |
657.600 |
1906.850 |
2191.440 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1135.800 |
2385.060 |
2669.650 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1900.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
428.300 |
244.660 |
206.100 |
|
Total
Non-current Liabilities (3) |
2328.300 |
244.660 |
206.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
696.600 |
2341.380 |
2248.170 |
|
(b) Trade payables |
6522.700 |
6154.590 |
4867.630 |
|
(c) Other current liabilities |
1725.800 |
1767.110 |
2096.230 |
|
(d) Short-term provisions |
157.100 |
158.060 |
332.530 |
|
Total
Current Liabilities (4) |
9102.200 |
10421.140 |
9544.560 |
|
|
|
|
|
|
TOTAL |
12566.300 |
13050.860 |
12420.310 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1946.400 |
1932.590 |
2072.690 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
56.510 |
13.450 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
114.200 |
114.230 |
82.390 |
|
(d) Trade receivables |
402.900 |
0.000 |
0.000 |
|
(e) Long-term Loan and Advances |
224.800 |
88.750 |
85.790 |
|
(f) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2688.300 |
2192.080 |
2254.320 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1799.300 |
1497.200 |
1639.370 |
|
(c) Trade receivables |
6811.000 |
8089.880 |
7262.540 |
|
(d) Cash and cash equivalents |
11.200 |
43.940 |
107.720 |
|
(e) Short-term loans and
advances |
916.800 |
1088.070 |
943.120 |
|
(f) Other current assets |
339.700 |
139.690 |
213.240 |
|
Total
Current Assets |
9878.000 |
10858.780 |
10165.990 |
|
|
|
|
|
|
TOTAL |
12566.300 |
13050.860 |
12420.310 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12156.500 |
13104.130 |
13491.920 |
|
|
|
Other Income |
450.300 |
68.310 |
43.090 |
|
|
|
TOTAL |
12606.800 |
13172.440 |
13535.010 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material and components consumed |
8817.600 |
9073.920 |
9289.020 |
|
|
|
(Increases/ Decreases in inventories of finished goods and work in
progress |
(120.800) |
(92.540) |
252.460 |
|
|
|
Employee benefits expenses |
1434.700 |
1482.690 |
1224.380 |
|
|
|
Exceptional Item |
373.000 |
100.000 |
0.000 |
|
|
|
Other expenses |
2864.200 |
2311.202 |
1782.730 |
|
|
|
TOTAL |
13368.700 |
12875.270 |
12548.590 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(761.900) |
297.170 |
986.420 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
260.300 |
259.510 |
215.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1022.200) |
37.660 |
771.410 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
227.100 |
318.340 |
158.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(1249.300) |
(280.680) |
612.940 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
3.910 |
215.290 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
(1249.300) |
(284.590) |
397.650 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(38.030) |
246.560 |
(0.160) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.000 |
39.770 |
|
|
|
Dividend |
|
0.000 |
95.640 |
|
|
|
Tax on Dividend |
|
0.000 |
15.520 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(38.030) |
246.560 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value Export |
|
1039.900 |
648.380 |
|
|
|
Other Services Income |
|
315.070 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
1354.970 |
648.380 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
2061.850 |
1759.750 |
|
|
|
Components and Spares parts |
|
1.120 |
4.340 |
|
|
|
Capital Goods |
|
9.310 |
87.730 |
|
|
TOTAL IMPORTS |
NA |
2072.280 |
1851.820 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.22) |
(1.19) |
1.66 |
|
1. The above Financial Results were reviewed
by the Audit Committee and taken on record by the Board of Directors at the
meeting held on May 22, 2014.
2. The Company had entered into transactions
of purchase and sale of goods and availing and rendering of services with a
company covered under section 297 of the Companies Act, 1956. The Company has
received approval from Central Government for goods transactions starting from
March 06, 2013 and services transactions starting April 01, 2013. Pending
Government approval on compounding the goods transactions prior to March 06,
2013 and services transactions prior to April 01, 2013, no adjustments have
been considered in financial results as Management is of the view that it will
not have any material Impact on the results. Auditors have also drawn attention
on this matter in their audit report and their opinion is not qualified in
respect of this matter.
3. The Company has only one business segment
i.e., business relating to product and systems for electricity distribution,
and accordingly disclosure requirements as per Accounting Standard -17 on
Segment Reporting are not applicable.
4. In order to achieve minimum 25% public
shareholding in the Company in terms of Role 19(2)(b) and 19A of the Securities
Contracts Regulation Rules (1957), read with Clause 40A (ii)(c) of the Listing
Agreement, Energy Grid Automation Transformers and Switchgears India Limited
(promoter) sold 7,479,178 equity shares of the Company (3.13%) in the secondary
market by way of "offer for Sale" of shares through the Stock
exchange mechanism in the month of January, 2014.
5. Exceptional Items represent cost incurred
on account of rationalize the Company’s transformer business in respect of
Naini Unit.
6. Other Income includes subvention received
from corporate for operational financial support- Rs 421.200 Millions.
7. The figures of the last quarter are the
balancing figures between audited figures in respect of the full financial year
up to March 31, 2014 and the unaudited published year-to-date figures up to
December 31, 2013, being the date of the end of the third quarter of the
financial year which were subjected to limited review.
8. Prior period figures have been
reclassified/regrouped wherever necessary for comparative purposes.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(9.91) |
(2.16)
|
2.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(10.28) |
(2.14)
|
4.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.37) |
(2.18)
|
4.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.10) |
(0.12)
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.29 |
0.98
|
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.04
|
1.06 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
478.210 |
478.210 |
478.200 |
|
Reserves & Surplus |
2191.440 |
1906.850 |
657.600 |
|
Net
worth |
2669.650 |
2385.060 |
1135.800 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1900.000 |
|
Short term borrowings |
2248.170 |
2341.380 |
696.600 |
|
Total
borrowings |
2248.170 |
2341.380 |
2596.600 |
|
Debt/Equity
ratio |
0.842 |
0.982 |
2.286 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13491.920 |
13104.130 |
12156.500 |
|
|
|
(2.874) |
(7.232) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13491.920 |
13104.130 |
12156.500 |
|
Profit |
397.650 |
(284.590) |
(1249.300) |
|
|
2.95% |
(2.17%) |
(10.28%) |
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 |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2013 |
31.03.2013 [Rs.
in Millions] |
|
Short Term
Borrowing |
|
|
|
Loans from banks repayable on demand |
|
0.000 |
|
Short term loans from bank |
|
1175.000 |
|
Short term foreign currency loan from banks |
|
166.380 |
|
Short term loan from Schneider Electric IT Business India Private
Limited |
|
1000.000 |
|
|
|
|
|
Total |
NA |
2341.380 |
INDEX OF CHARGES
No Charges Exist for Company
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Buildings
· Plant and Equipments
· Furniture and Fixtures
· Office Equipments
·
Motor Vehicles
PRESS RELEASES
Schneider Electric says will remain focused on India
French major sees opportunity in dismal distribution network
June 7, 2014
Schneider Electric Infrastructure, part of the euro 24-billion French Schneider
Electric Group, wants to remain focused on high-end power distribution equipment and solutions in
“A third of the energy in India is wasted in T and D losses,” Prakash
Chandraker, vice-president and managing director of infrastructure business at
Schneider Electric Infrastructure said.
Chandraker refused to share or give any indication of the outlook on the
company’s India revenues in the current year or its plan to add manpower in the
country.
He said the company’s interest was backed by government policies aimed at
deploying smart-grid solutions to bring down losses. The company, in India for
50 years, is providing smart-grid solutions in Bihar, Kerala, Jammu and Kashmir
and Odisha.
The company supplies medium voltage switch gear and transformers apart from
digitised substations, network automation systems and renewable integration
systems.
Schneider Electric employs 29,000 in 33 factories in India. Chandraker said the
company had added enough capacity for expansion. “Most investment required for
hardware has been done. We are investing in integration capabilities on the
smart-grid side.”
Chandraker said there were no constraints for growth “but some policy change is
required for demand growth. We see there is potential to reduce losses by 10 to
15 per cent.” He added the company saw opportunity also because of the new
government’s 10-point agenda that focused on energy.
Volumes
jump at Schneider Electric Infrastructure counter
June 5, 2014
Praj Industries, Edelweiss Financial Services, Havells India and Greaves Cotton are among the other stocks to see a surge in
volumes on BSE today, 5 June 2014.
Schneider Electric Infrastructure clocked volume of 9.02 lakh shares by
13:43 IST on BSE, a 28.51-times surge over two-week average daily volume of
32,000 shares. The stock lost 1.1% at Rs 121.90.
Praj Industries notched up volume of 2 crore shares, a 28.32-fold surge
over two-week average daily volume of 7.10 lakh shares. The stock tumbled 5.18%
at Rs 73.20.
Edelweiss Financial Services saw volume of 1.65 crore shares, a
24.61-fold surge over two-week average daily volume of 6.71 lakh shares. The
stock surged 8.28% at Rs 58.20
.
Havells India clocked volume of 6.74 lakh shares, a 19.71-fold
surge over two-week average daily volume of 34,000 shares. The stock jumped
9.22% at Rs 1161.
Greaves Cotton saw volume of 12.22 lakh shares, a 13.01-fold rise over
two-week average daily volume of 94,000 shares. The stock rose 6.28% at Rs 105.
CMT REPORT (Corruption, Money Laundering and 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.60.85 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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 and 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.