MIRA
INFORM REPORT
|
Report Date : |
04.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CROMPTON GREAVES LIMITED |
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Registered
Office : |
6th
Floor, C.G. House, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.04.1937 |
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Com. Reg. No.: |
11-002641 |
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Capital
Investment / Paid-up Capital : |
Rs. 1253.500 Millions |
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CIN No.: [Company Identification
No.] |
L99999MH1937PLC002641 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMCO5628A |
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PAN No.: [Permanent Account No.] |
AAACC3840K |
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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
: |
Manufacturing and Marketing of transformers, switchgears, turn-key
projects, capacitors, electric motors - fractional horse power motors, LT
motors, alternators, HT motors, DC machines, rail transportation, fans,
luminaries, light sources, telephone instruments, telecommunication
switching, transmission and access products, EPABX systems and agricultural
and domestic pumps, etc. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Fundamentals are strong. Trade relations are reported as fair. Business is active. Payments terms
are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long term rating: “AA” |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
01.07.2013 |
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 DECLINED
Management Non-cooperative. (Tel. No.: 91-22-24237777)
LOCATIONS
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Registered Office : |
6th
Floor, C.G. House, Dr. Annie Besant Road, Worli, Mumbai – 400030,
Maharashtra, India |
|
Tel. No.: |
91-22-24237777 |
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Fax No.: |
91-22-24237733 |
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E-Mail : |
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Website : |
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Plant Locations : |
POWER SYSTEMS Kanjur, Bhandup, Mumbai – 400042, Maharashtra, India Tel. No. 91-22-25782451 Fax No. 91-22-25783271/ 25783216 E-Mail. : vmasson@tone.cgl.co.in A/3, MIDC Area, Ambad, Nashik – 422010, Maharashtra, India Tel. No. 91-253-2382271/ 2382275 Fax No. 91-253-2381247 E-Mail. : contact@cglmail.com D-2, MIDC, Waluj, Aurangabad – 431136, Maharashtra, India Tel. No. 91-240-2554662 /2554371/ 2554372/ 2554559 Fax No. 91-240-2554697 E-Mail. : cglsg@bom4.vsnl.net.in 209, Mumbai Pune Road, Pimpri, Pune – 411018, Maharashtra, India Tel. No. 91-20-27474925 Fax No. 91-20-27474972 E-Mail. : cgt2@mantraonline.com T1+T2, MPAKVN Industrial Area, Malanpur (District Bhind) - 477716,
Madhya Pradesh, India Tel. No. 91-7539-283502/ 3507/ 3470 Fax No. 91-7539-283585 E-Mail. : cgt2@mantraonline.com Plot No.29-32, New Industrial Area No.1, Mandideep – 462046, Madhya
Pradesh, India Tel. No. 91-7480-233306 Fax No. 91-7480-233149 E-Mail. cglt-bpl@sancharnet.in Plot No. 65, Phase 1, SIPCOT Industrial Complex, Hosur - 635126,
Tamilnadu, India Telefax : 91-4344-2579633 Fax No. : 91-4344-2579622 E-Mail. : cgpolycrete@satyam.net.in INDUSTRIAL SYSTEMS Kanjur, Bhandup, Mumbai – 400042, Maharashtra, India Tel. No. 91-22-2578 2451 Fax No. 91-22-2578 3845 E-Mail. : imd@cgl.co.in A/6-2, MIDC Industrial Area, Ahmednagar – 414111, Maharashtra, India Tel. No. 91-241-2777372 Fax No. 91-241-2777508 E-Mail. : sc.gupta@mail.cgl.co.in Unit-2, B-110, MIDC Industrial Area, Ahmednagar – 414111, Maharashtra,
India Tel. No. 91-241-2778521 Fax No. 91-241-2777491 E-Mail. : gupta.r.k@mail.cgl.co.in Plot No. 4, Gate No. 627/2, Village Kuruli, Near Chakan, Pune -
410501, Maharashtra, India Tel. No. 91-2135-254641/2 E-Mail. feeder@cgl.co.in D-5, Industrial Area, MPAKVN, Mandideep – 462046, Madhya Pradesh,
India Tel. No. 91-7480-233116 / 233118 Fax No. 91-7480-233119 E-Mail. : ak.raina@mail.cgl.co.in 11-B, Industrial Area 1, Pithampur – 454775, District Dhar, Madhya
Pradesh, India Tel. No. 91-7292-253194/ 253258 Fax No. 91-7292-253211 E-Mail. : cglsrub@sancharnet.in C 71-72, MIDC Industrial Area, Satpur, Nashik – 422 007, Tel. No. 91-253-2351067/ 69 Fax No. 91-253-2351492 E-Mail. : vrkumar@satpur2.cgl.co.in D-2-21, 22, 23, Tivim Industrial Estate, Karaswada, Bardez, Goa -
403526, India Tel. No. 91-832-2257639/ 409 Fax No. 91-832-2257207 E-Mail. : sagar.r.k.@mail.cgl.co.in 196-198, Kundaim Industrial Estate, Kundaim, Ponda, Goa - 403110,
India Tel. No. 91-834-2395510 Fax No. 91-834-2395377 E-Mail.: cglfhpg@goatelecom.com L. B. Shastri Marg, Bhandup, Mumbai - 400078, Maharashtra, India Tel. No. : 91-22-25783865/ 3581/ 83 Fax No. : 91-22-25782877 Dr. E. Moses Road, Worli, Mumbai – 400018, Maharashtra, India Tel. No. : 91-22-24933913/ 916 Fax No.: 91-22-24951411 CONSUMER PRODUCTS Kanjur (East), Bhandup, Mumbai –
400042, Maharashtra, India Tel. No. 91-22-25782451 Fax No. 91-22-25786046 Dr. E. Moses Road, Worli, Mumbai – 400018, Maharashtra, India Tel. No. 91-22-24951983 / 24944376/ 24977652 Fax No. 91-22-24604707 / 4708 / 24973046 E-Mail. : vrm@cgl.co.in Kural Village, Padra Taluka, Tel. No. : 91-2662-242278 Fax No. : 91-2662-242326 E-Mail. : kvs@mail.cgl.co.in 325-326, Kundaim Industrial Estate, Ponda, Goa - 403110, India Tel. No. : 91-832-2395304 Fax No. : 91-832-2395305 A-28, MIDC, Ahmednagar - 414111, Maharashtra, India Tel. No. 91-241-2777155 E-Mail. uhm@cgl.co.in 214-A, Kundaim Industrial Estate, Kundaim, Goa - 403 110, Tel. No. 91-832-2395246/ 206/ 304 Fax No. 91-832-2395305 E-Mail. rsk@mail.cgl.co.in Plot No. 1, IDC Industrial Estate, Bethora, Ponda, Goa-403409, India Tel. No. 91-832-2330005/ 2330742 Fax No. 91-832-2313155 E-Mail. rsk@mail.cgl.co.in Village and Import Export Executive Channo, District Sangrur - 148026,
Punjab, India DIGITAL GROUP 10-A Jigani Industrial Estate, Jigani, Anekal, Bangalore Rural -
562106, Karnataka, India E-Mail. cgl.rcd@cromption.sril.in 11A and 11C Industrial Area, Pithampur – 454775, District Dhar, Madhya
Pradesh, India Tel. No. 91-7292-253035/ 253071 Fax No. 91-7292-253213 E-Mail. hs_sekhon@yahoo.co.in INTERNATIONAL DIVISION Jagruti, 2nd Floor, Kanjur Marg (East), Mumbai - 400 042, Tel No. 91-22-25782451-7 / 25776524 / 6649 / 25776723 / 25784211-19 /
67558000 Fax No. 91-22-25774066 E-Mail. ashley@cgl.co.in DOMESTIC APPLIANCES DIVISION 27, Rani Jhansi Road, New Delhi - 110055, India Tel. No. 91-11-27516993/ 23632349 Fax No. 91-11-27514899 ENGINEERING PROJECTS DIVISION Bombay Mutual Building, 4th Floor, 232, NSC Bose Road, PO Box No.100,
Chennai - 600001, Tamilnadu, India Tel No. 91-44-25341941 Fax No. 91-44-25341048 E-Mail. cglepd@vsnl.com 50, Chowringhee Road, Kolkata - 700071, West Bengal, India Tel. No. 91-33-22828709/ 22820814/ 3716 Fax No. 91-33-22823715 LIGHTING DIVISION Dr. E. Moses Road, Worli, Mumbai - 400018, Maharashtra, India Tel. No. 91-22-24604701 |
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Regional Office : |
3rd Floor, Express Building, 9-10 Bahadur Shah Zafar Marg, Near to
Crossing, New Delhi-110001, India |
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Regional Sales Office : |
Northern Region Located at: v
Jaipur v
Jalandhar v
v
Eastern Region Located at: v
Kolkata v
v
Western Region Located at: v
Mumbai v
Ahmedabad v
v
Indore v
Pune v
v
Southern Region Located At: v
Chennai v
v
Secunderabad v
v
Satellite Office Located at: v
v
v
Ernakulam v
Chennai v
v
v
Mandapam |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Gautam Thapar
|
|
Designation : |
Chairman |
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|
Name : |
Mr. S.M. Trehan |
|
Designation : |
Vice Chairman (Managing
Director upto 1st June, 2011)
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|
Name : |
Mr. L. Demortier |
|
Designation : |
Managing Director
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Name : |
Mr. S. Apte |
|
Designation : |
Non-Executive
Director |
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Name : |
Mr. Omkar Goswami
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Designation : |
Non-Executive
Director |
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Name : |
Mr .B Hariharan |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. S. Labroo |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. S. Prabhu |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. M. Pudumjee |
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Designation : |
Non-Executive
Director |
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|
Name : |
Mr. C Lewiner |
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Designation : |
Non-Executive
Director |
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|
Name : |
Mr. V. Von Massow |
|
Designation : |
Non-Executive
Director |
KEY EXECUTIVES
|
Name : |
Mr. M. Acharya |
|
Designation : |
Chief Financial Officer |
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|
|
Name : |
Mr. M. Bhosale |
|
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 |
|
|
|
|
|
|
|
|
255945608 |
40.91 |
|
|
255945608 |
40.91 |
|
|
|
|
|
|
11505462 |
1.84 |
|
|
11505462 |
1.84 |
|
Total shareholding
of Promoter and Promoter Group (A) |
267451070 |
42.75 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
96927676 |
15.49 |
|
|
1604757 |
0.26 |
|
|
3633298 |
0.58 |
|
|
37231391 |
5.95 |
|
|
125012112 |
19.98 |
|
|
264409234 |
42.27 |
|
|
|
|
|
|
37165922 |
5.94 |
|
|
|
|
|
|
45959326 |
7.35 |
|
|
5195423 |
0.83 |
|
|
5377268 |
0.86 |
|
|
1875607 |
0.30 |
|
|
306326 |
0.05 |
|
|
3192002 |
0.51 |
|
|
3333 |
0.00 |
|
|
93697939 |
14.98 |
|
Total Public
shareholding (B) |
358107173 |
57.25 |
|
Total (A)+(B) |
625558243 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
1187899 |
0.00 |
|
|
1187899 |
0.00 |
|
Total (A)+(B)+(C) |
626746142 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of transformers, switchgears, turn-key
projects, capacitors, electric motors - fractional horse power motors, LT motors,
alternators, HT motors, DC machines, rail transportation, fans, luminaries,
light sources, telephone instruments, telecommunication switching,
transmission and access products, EPABX systems and agricultural and domestic
pumps, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
v Union Bank of India v IDBI Bank Limited v State Bank of India v ICICI Bank Limited v Corporation Bank v The Royal Bank of Scotland N.V. v Canara Bank v Standard Chartered Bank v Bank of Maharashtra v Credit Agricole CIB v
Yes Bank Limited |
|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
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Banking
Relations : |
-- |
|
|
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|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
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|
|
Solicitors : |
Crawford Bayley
and Company |
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Subsidiaries : |
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Associates: |
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Other related parties in which directors are interested: |
·
Ballarpur Industries Limited ·
Solaris Chem Tech Industries Limited ·
BILT Graphic Paper Products Limited ·
Avantha Holdings Limited ·
Salient Business Solutions Limited ·
Avantha Realty Limited ·
Korba West Power Company Limited ·
Sabah Forest Industries Sdn. Bhd. ·
Malanpur Captive Power Limited ·
Corella Investments Limited ·
Lustre International Limited ·
Varun Prakashan Private Limited ·
Jhabua Power Limited |
CAPITAL STRUCTURE
After 06.08.2013
Authorised Capital: Rs.
3610.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1282.983
Millions
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1805000000 |
Equity Shares |
Rs. 2/- Each |
Rs.3610.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
626746142 |
Equity Shares |
Rs.2/- each |
Rs. 1253.500
Millions |
|
|
|
|
|
Reconciliation of the number of the shares outstanding at the beginning
and at the end of the year:
|
Issued share
capital |
31.03.2014 |
|
|
Authorised share capital: |
No. of Shares |
Rs. in Millions |
|
|
|
|
|
Balance at the beginning of the year |
641533836 |
1283.000 |
|
Less: Shares bought back |
14745394 |
29.500 |
|
Balance at the end of the year |
626788442 |
1253.500 |
|
Subscribed & Paid-up |
31.03.2014 |
|
|
Authorised share capital: |
No. of Shares |
Rs. in Millions |
|
|
|
|
|
Balance at the beginning of the year |
641533836 |
1283.000 |
|
Less: Shares bought back |
14745394 |
29.500 |
|
Balance at the end of the year |
626788442 |
1253.500 |
Terms / rights attached to equity shares:
The Company has
only one class of share capital, i.e., equity shares having face value of Rs.2
per share. Each holder of equity share is entitled to one vote per share.
During the year, the Company has declared and paid interim dividend of
Rs. 0.80 per share. The Company has recommended a final dividend of Rs.0.40 per
share, subject to approval of shareholders at the ensuing Annual General
Meeting.
In the event of liqudation, the equity shareholders are eligible to
receive the remaining assets of the Company after distribution of all
preferential amounts, in proportion to their shareholding.
Details shareholders holding more than 5% shares in the Company:
|
Particulars |
31.03.2014 |
|
|
% |
No. of Shares |
|
|
1. Avantha Holdings limited |
40.84 |
255937034 |
|
2. HDFC Trustee company limited – HDFC Equity Fund |
9.30 |
58269500 |
|
3. life insurance corporation of India |
5.24 |
32842674 |
Aggregate number of bonus shares issued during the period of five years
immediately preceding the reporting date:
|
Particulars |
31.03.2014 |
|
No. of Shares |
|
|
|
|
|
shares issued as fully paid-up bonus shares |
274924944 |
|
|
|
Aggregate number of bonus shares issued bought back during the period of
five years immediately preceding the reporting date:
|
Particulars |
31.03.2014 |
|
No. of Shares |
|
|
|
|
|
Shares bought back |
14745394 |
|
|
|
Aggregate number of bonus shares issued as GDRs:
|
Particulars |
31.03.2014 |
|
|
% |
No. of Shares |
|
|
|
|
|
|
The Bank of New York |
0.22 |
1383534 |
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 |
1253.500 |
1283.000 |
1283.000 |
|
(b) Reserves & Surplus |
32307.200 |
29285.500 |
25725.800 |
|
(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) |
33560.700 |
30568.500 |
27008.800 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
5.400 |
7.500 |
20.600 |
|
(b) Deferred tax liabilities (Net) |
735.900 |
498.300 |
432.300 |
|
(c) Other long
term liabilities |
280.300 |
273.300 |
249.400 |
|
(d) long-term
provisions |
419.100 |
380.900 |
311.100 |
|
Total Non-current
Liabilities (3) |
1440.700 |
1160.000 |
1013.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
299.900 |
129.300 |
2.000 |
|
(b)
Trade payables |
15630.700 |
15143.100 |
11710.300 |
|
(c)
Other current liabilities |
3629.500 |
4216.600 |
4778.600 |
|
(d) Short-term provisions |
1303.000 |
1478.700 |
1191.800 |
|
Total Current
Liabilities (4) |
20863.100 |
20967.700 |
17682.700 |
|
|
|
|
|
|
TOTAL |
55864.500 |
52696.200 |
45704.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
6745.100 |
6043.200 |
5308.900 |
|
(ii)
Intangible Assets |
803.900 |
561.700 |
652.700 |
|
(iii)
Capital work-in-progress |
424.200 |
749.100 |
582.900 |
|
(iv) Intangible assets under development |
253.100 |
398.600 |
210.300 |
|
(b) Non-current
Investments |
8057.100 |
5545.800 |
5515.900 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
426.700 |
181.000 |
228.700 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
16710.100 |
13479.400 |
12499.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
206.300 |
5004.600 |
5009.100 |
|
(b)
Inventories |
5577.800 |
5485.000 |
4496.000 |
|
(c) Trade
receivables |
19079.200 |
18406.200 |
17356.200 |
|
(d) Cash
and cash equivalents |
4428.000 |
2887.900 |
3211.000 |
|
(e)
Short-term loans and advances |
9192.200 |
6935.700 |
2644.400 |
|
(f)
Other current assets |
670.900 |
497.400 |
488.800 |
|
Total
Current Assets |
39154.400 |
39216.800 |
33205.500 |
|
|
|
|
|
|
TOTAL |
55864.500 |
52696.200 |
45704.900 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
74895.700 |
71353.000 |
64853.800 |
|
|
Other Income |
1757.200 |
986.800 |
743.900 |
|
|
TOTAL (A) |
76652.900 |
72339.800 |
65597.700 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
36175.200 |
35652.800 |
34676.200 |
|
|
Purchases of
Stock-in-Trade |
19932.100 |
18118.000 |
12654.700 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(127.700) |
(429.900) |
(73.900) |
|
|
Employees benefits
expense |
4763.600 |
4107.400 |
3635.900 |
|
|
Other expenses |
7494.100 |
7958.600 |
6754.100 |
|
|
TOTAL (B) |
68237.300 |
65406.900 |
57647.000 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
8415.600 |
6932.900 |
7950.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
397.600 |
254.100 |
276.600 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8018.000 |
6678.800 |
7674.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
893.500 |
718.600 |
907.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
7124.500 |
5960.200 |
6767.000 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1913.600 |
1501.800 |
1718.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
5210.900 |
4458.400 |
5048.600 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
23703.800 |
20592.100 |
17401.600 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer
to General Reserve |
NA |
450.000 |
680.000 |
|
|
1st
Interim Dividend |
NA |
256.600 |
513.200 |
|
|
2nd
Interim Dividend |
NA |
256.600 |
128.300 |
|
|
3rd
Interim Dividend |
NA |
0.000 |
256.600 |
|
|
Proposed
Dividend |
NA |
256.600 |
0.000 |
|
|
Corporate
Dividend Tax |
NA |
126.900 |
145.700 |
|
|
BALANCE CARRIED TO THE
B/S |
NA |
23703.800 |
20726.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9021.600 |
8310.500 |
8719.600 |
|
|
Service Income |
87.600 |
57.700 |
131.000 |
|
|
Other Earnings |
296.500 |
212.700 |
138.700 |
|
|
Others |
501.900 |
190.700 |
0.000 |
|
|
TOTAL EARNINGS |
9907.600 |
8771.600 |
8989.300 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
6869.000 |
5981.400 |
5579.800 |
|
|
Trading Goods |
1437.800 |
1303.300 |
951.500 |
|
|
Spares Parts |
67.900 |
28.800 |
33.200 |
|
|
Capital Goods |
112.000 |
288.500 |
336.000 |
|
|
TOTAL IMPORTS |
8486.700 |
7602.000 |
6900.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
8.23 |
6.95 |
7.87 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
6.80 |
6.16 |
7.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.51 |
8.35 |
10.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.12 |
12.96 |
17.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.19 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
1.87 |
1.88 |
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 |
1283.000 |
1283.000 |
1253.500 |
|
Reserves & Surplus |
25725.800 |
29285.500 |
32307.200 |
|
Net worth |
27008.800 |
30568.500 |
33560.700 |
|
|
|
|
|
|
long-term borrowings |
20.600 |
7.500 |
5.400 |
|
Short term borrowings |
2.000 |
129.300 |
299.900 |
|
Total borrowings |
22.600 |
136.800 |
305.300 |
|
Debt/Equity ratio |
0.001 |
0.004 |
0.009 |
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 |
64853.800 |
71353.000 |
74895.700 |
|
|
|
10.021 |
4.965 |
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 |
64853.800 |
71353.000 |
74895.700 |
|
Profit |
5048.600 |
4458.400 |
5210.900 |
|
|
7.78% |
6.25% |
6.96% |
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 |
Yes |
|
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
(Rs.
In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Interest-free sales tax deferral loans from state government |
5.400 |
7.500 |
|
|
|
|
|
Total |
5.400 |
7.500 |
LITIGATION DETAILS
|
Case Details |
||||||||
|
Bench:- Bombay |
||||||||
|
Presentation Date:- |
01/01/2014 |
|||||||
|
Lodging No.:- |
ITXAL/2/2014 |
Filing Date:- |
01/01/2014 |
Reg. No.: |
ITXA/279/2014 |
Reg. Date: |
15/02/2014 |
|
|
|
||||||||
|
Petitioner: |
COMMISSIONER OF INCOME TAX 6 - |
Respondent:- |
M/S CROMPTON GREAVES LIMITED |
|||||
|
|
|
Resp. Adv.: |
SUBHASH SANJEEVA SHETTY / MR. HIRO |
|||||
|
District:- |
MUMBAI |
|||||||
|
Bench:- |
DIVISION |
|||||||
|
Status:- |
Pre-Admission |
|||||||
|
Next Date:- |
02/09/2014 |
Stage:- |
|
|||||
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|||||||
|
|
||||||||
|
Act :- |
Income tax act, 1961 |
Under Section:- |
260 A |
|||||
AMALGAMATION
CG-ZIV Power Automation Solutions Ltd (CG-ZIV) and CG Energy Management Limited (CGEM) are wholly owned subsidiaries of the Company. For simplification of the shareholding structure and operational synergies, the Board of Directors at their Meeting held on 29 January 2014, approved the amalgamation of CG-ZIV and CGEM with the Company. The Amalgamation would be effective upon receipt of requisite approvals.
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80015435 |
07/12/2012 * |
29,000,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH , UNION BANK BHAVAN, 1ST FLOOR , VIDHAN
BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B65017337 |
* Date of charge modification
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Buildings
· Plant and Machinery
· Railway sidings
· Furniture and Fixtures
· Office Equipment’s
· Aircrafts
· Vehicles
· Goodwill
· Computer Software
· Technical Know – how
· Commercial rights
· Research and Development
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. 60.85 |
|
|
1 |
Rs. 102.69 |
|
Euro |
1 |
Rs. 81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared by
: |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.