MIRA
INFORM REPORT
|
Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
WINDSOR MACHINES LIMITED (w.e.f. 2005) |
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Formerly Known
As : |
DGP WINDSOR INDIA LIMITED |
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Registered Office
: |
102/103, Devmilan Co.operative Housing Society, Next to Tip Top Plaza,
L.B.S. Road, Thane West, Thane-400604, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.05.1963 |
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Com. Reg. No.: |
11-012642 |
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Capital
Investment / Paid-up Capital : |
Rs.129.864
Millions |
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|
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CIN No.: [Company Identification
No.] |
L99999MH1963PLC012642 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03988F |
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PAN No.: [Permanent Account No.] |
AAACD4302P |
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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
: |
Manufacturer and Exporter of Plastic Processing Machinery. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track
record. The company possesses a favourable financial profile marked by
adequate networth base and comfortable capital structure characterized by
zero debt along with slightly augmenting payables creating an unfavourable
gap between receivables. Management has witnessed a slight growth in its sales volume as well
as net profitability and has recorded a decent profile margin during FY14. Trade relation are fair. Business is active. Payment terms are
reported as usually correct. In view of strong financial support extended from the promoters, 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 |
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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.
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
Management Non Co-operative (91-79-30262131)
LOCATIONS
|
Registered Office : |
102/103, Devmilan Co. Operative Housing Society, Next to Tip Top
Plaza, L.B.S. Road, Thane West, Thane-400604, Maharashtra, India |
|
Tel. No.: |
91-79-30262131 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1: |
Thane Plot No. E 6, U2, Road, Wagle
Industrial Estate, Thane-400604, |
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E-Mail : |
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Factory 2 : |
Vatva Factory Plot 5402-5403, Phase IV, GIDC, Vatva, Ahmedabad-382445, |
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Tel. No.: |
91-79-25841111/ 25841121/ 25840730/ 25841591/ 2/ 3 |
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Fax No.: |
91-79-25842059/ 25842145 |
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E-Mail : |
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Factory 3 : |
Chhatral Factory Plot No. 6 and 7, GIDC Industrial Estate, Chhatral Taluka, Kalol
Districtr, Mehsana-382729, Gujarat, India |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. K C Gupte |
|
Designation : |
Executive Director |
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Name : |
Mr. P C Kundalia |
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Designation : |
Director |
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Name : |
Mr. M K Arora |
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Designation : |
Director |
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Name : |
Mr. Jayant Thakur |
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Designation : |
Director |
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Name : |
Mr. Nirmal Gangwal |
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Designation : |
Director (up to 12.08.2013) |
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Name : |
Mr. Pushp Raj Singhavi |
|
Designation : |
Director |
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Date of Birth/Age : |
01.01.1944 |
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Qualification : |
B.Com, L.L.B |
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Date of Appointment : |
30.03.2011 |
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|
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|
Name : |
Mr. Shishir Dalal |
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Designation : |
Director (up to 29.07.2013) |
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Date of Birth/Age : |
29.05.1956 |
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Qualification : |
B. Com, FCA |
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Date of Appointment : |
29.07.2013 |
KEY EXECUTIVES
|
Name : |
Mr. Jaypal Sadhwani |
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Designation : |
Accounts Department |
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Name : |
Ms. Priti Patel |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Names of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
Bodies Corporate |
37500000 |
57.75 |
|
|
37500000 |
57.75 |
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|
|
|
Total shareholding of Promoter and Promoter Group (A) |
37500000 |
57.75 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
16066 |
0.02 |
|
|
80202 |
0.12 |
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|
9600 |
0.01 |
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|
105868 |
0.16 |
|
|
|
|
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|
6961233 |
10.72 |
|
|
|
|
|
|
8613022 |
13.26 |
|
|
5127474 |
7.90 |
|
|
6624203 |
10.20 |
|
|
160916 |
0.25 |
|
|
6152072 |
9.47 |
|
|
410 |
0.00 |
|
|
310205 |
0.48 |
|
|
600 |
0.00 |
|
|
27325932 |
42.08 |
|
Total Public shareholding (B) |
27431800 |
42.25 |
|
Total (A)+(B) |
64931800 |
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) |
64931800 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Processing Machinery. |
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|
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|
Products : |
Blown Film Lines - CROWN Series – Monolayer - DUKE Series - Three Layer Non IBC - REX Series - Three Layer IBC -
BARON - Five Layer
- KTS Series - Twin Screw Extruder for PVC - Downstream for Twin Screw Extruder for PVC - LX Series - Single Screw Extruder for PE/PPR/ABS - Downstream for Single Screw Extruder for PE/PPR/ABS
- KBM Series |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
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Bankers : |
Yes Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Haribhakti and Company Chartered Accountants |
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Holding Company: |
Castle Equipments Private Limited* * Represent parties with whom there were no transaction during the year. |
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Associates: |
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CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.129.864
Millions
As on: 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.2/- each |
Rs. 400.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64931800 |
Equity Shares |
Rs.2/- each |
Rs. 129.864
Millions |
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|
|
|
|
Reconciliation of Equity
Shares Outstanding at the beginning and at the end of the year
|
Particulars |
As on 31.03.2013 |
|
|
No In Millions |
Rs. In Millions |
|
|
At the beginning of the year |
64.932 |
129.864 |
|
Add: Issued at Rs. 4 |
-- |
-- |
|
Add: Equity Shares Subdivided |
-- |
-- |
|
Add: Issued at Rs.2 |
-- |
-- |
|
Shares outstanding at the end of the year |
64.932 |
129.864 |
Previous year the Company has revised its capital structure as directed by the BIFR vide its order dated September 21, 2010 and subsequent orders thereafter.
During the previous year company has allotted 18750000 (One Crores Eighty Seven Lacs Fifty Thousand) equity shares of Rs.4/ - (Rupees Four only) each, at par. As per Special Resolution passed at the Extra-Ordinary General Meeting of the members of the Company held on May 12, 2011, the Company has increased its authorized share capital up to Rs.400.000 millions and subdivided entire equity share capital of face value of Rs. 4/- (Rupees Four Only) each into two equity shares of Rs.2/- (Rupees Two Only) each during the previous year. As per BIFR Order dated July 18, 2011, Company has further issued 1360000 (Thirteen Lacs Sixty thousand) equity shares of Rs. 2/- (Rupees Two Only) each, at par in previous year.
Details of
Shareholders holding more than 5% shares in the Company
|
Name of
Shareholders |
As on 31.03.2013 |
|
|
No of Shares |
% of Holding |
|
|
Castle Equipments Private Limited |
35000000 |
53.90% |
|
D G P Windsor Limited |
-- |
-- |
|
Vandana Ramesh Sitlani |
5899748 |
9.09% |
|
V.I.P. Industries Limited |
4560760 |
7.02% |
3.4 3,50,00,000
Equity Shares (3,50,00,000 Equity shares Previous year) are held by Castle Equipments
Private Limited, the holding Company.
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 |
129.864 |
129.864 |
129.864 |
|
(b) Reserves & Surplus |
394.099 |
198.225 |
90.396 |
|
(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) |
523.963 |
328.089 |
220.260 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
54.545 |
127.273 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
0.000 |
54.545 |
127.273 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
6.772 |
0.000 |
|
(b) Trade payables |
411.037 |
448.559 |
344.313 |
|
(c) Other current liabilities |
342.159 |
367.040 |
330.493 |
|
(d) Short-term provisions |
7.996 |
0.000 |
1.101 |
|
Total Current Liabilities (4) |
761.192 |
822.371 |
675.907 |
|
|
|
|
|
|
TOTAL |
1285.155 |
1205.005 |
1023.440 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
216.078 |
169.198 |
136.270 |
|
(ii) Intangible Assets |
0.000 |
12.561 |
17.858 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
134.525 |
2.280 |
2.279 |
|
(c) Deferred tax assets (net) |
72.327 |
141.415 |
141.415 |
|
(d) Long-term Loan and Advances |
10.777 |
9.297 |
6.342 |
|
(e) Other Non-current assets |
6.625 |
6.625 |
6.625 |
|
Total Non-Current Assets |
440.332 |
341.376 |
310.789 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
428.235 |
412.513 |
402.260 |
|
(c) Trade receivables |
196.927 |
109.310 |
94.697 |
|
(d) Cash and cash equivalents |
134.168 |
220.244 |
104.354 |
|
(e) Short-term loans and advances |
71.102 |
110.370 |
106.568 |
|
(f) Other current assets |
14.391 |
11.192 |
4.772 |
|
Total Current Assets |
844.823 |
863.629 |
712.651 |
|
|
|
|
|
|
TOTAL |
1285.155 |
1205.005 |
1023.440 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2385.255 |
2164.182 |
2292.044 |
|
|
|
Other Income |
59.085 |
42.541 |
44.534 |
|
|
|
TOTAL (A) |
2444.340 |
2206.723 |
2336.578 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1498.953 |
1478.655 |
1551.623 |
|
|
|
Changes in inventories of finished goods work-in-progress and Stock-in-Trade |
63.876 |
21.750 |
33.111 |
|
|
|
Employee benefits expense |
271.188 |
245.748 |
252.156 |
|
|
|
Other Expenses |
306.736 |
309.490 |
295.355 |
|
|
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
2140.753 |
2055.643 |
2132.245 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
303.587 |
151.080 |
204.333 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.306 |
21.528 |
28.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
290.281 |
129.552 |
176.111 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
25.319 |
21.723 |
21.692 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
264.962 |
107.829 |
154.419 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
69.088 |
0.000 |
40.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
195.874 |
107.829 |
114.341 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
198.225 |
90.396 |
(23.945) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
394.099 |
198.225 |
90.396 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
504.423 |
480.590 |
|
|
TOTAL EARNINGS |
NA |
504.423 |
480.590 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
236.405 |
106.173 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.02 |
1.66 |
2.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
8.01 |
4.87 |
4.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.11 |
4.98 |
6.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.57 |
10.16 |
17.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51 |
0.32 |
0.70 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.19 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.06 |
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 |
129.864 |
129.864 |
129.864 |
|
Reserves & Surplus |
90.396 |
198.225 |
394.099 |
|
Net
worth |
220.260 |
328.089 |
523.963 |
|
|
|
|
|
|
long-term borrowings |
127.273 |
54.545 |
0.000 |
|
Short term borrowings |
0.000 |
6.772 |
0.000 |
|
Total
borrowings |
127.273 |
61.317 |
0.000 |
|
Debt/Equity
ratio |
0.578 |
0.187 |
0.000 |
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 |
2,292.044 |
2,164.182 |
2,385.255 |
|
|
|
(5.579) |
10.215 |
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
|
2,292.044 |
2,164.182 |
2,385.255 |
|
Profit |
114.341 |
107.829 |
195.874 |
|
|
4.99% |
4.98% |
8.21% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2013 Rs. In Millions |
|
Claims against the company not acknowledged as debts |
29.141 |
|
Disputed income tax liability |
74.620 |
|
Disputed excise liability |
1.651 |
|
Guarantee given by the company on behalf of a body corporate to a financial institutions |
12.000 |
|
In respect of bank guarantees |
7.270 |
|
In respect of claims of 8 workmen (previous year 31 workmen) at Vatva works whose services were terminated by the Company. The Company’s appeal is pending before Industrial Court / High Court. However company has agreed for 70 days retrenchment compensation in the court and same is also provided in the books. |
Unascertained |
PRESS
RELEASE
WINDSOR MACHINES' ARM ENTERS INTO PRELIMINARY TRANSFER OF BUSINESS
AGREEMENT WITH ITALIAN AUTHORITIES
With reference to the earlier announcement regarding an acquisition
in Italy, Windsor Machines Limited has now informed BSE that Wintech B.V., a
Wholly Owned Subsidiary (WOS) of M/s. Windsor Machines Limited has incorporated
a wholly owned subsidiary, namely "Wintal Machines S. r. l." on
September 16, 2013, in Italy to acquire the business of an Italian Company,
Ital tech S. p.a. Further the Company has informed that, Wintal Machines S. r.
l has entered into Preliminary Transfer of Business Agreement with Italian
authorities under Italian Bankruptcy Law for leasing the business of Ital tech
S. p.a., with the aim of buying the same in a predetermined time period. During
this period Wintal Machines S. r. l. will manage and grow the business of Ital
tech S. p.a. around the world. This acquisition is a great opportunity for M/s.
Windsor Machines Limited to get superior technology for Injection Moulding
Division as well as to get Ital tech S. p. a' s erstwhile global customers.
This shall help M/s. Windsor Machines Limited to serve its customers, in India
and abroad, with better products and services.
WINDSOR STANDALONE JUN '14 SALES AT RS 504.600 MILLIONS
Windsor Machines has reported a standalone sales turnover of
Rs 504.600 Millions and a net loss of Rs.4.400 Millions for the quarter ended Jun
'14. Other income for the quarter was Rs.3.100 Millions.
For the quarter ended Jun 2013 the standalone sales turnover
was Rs 493.600 Millions and net profit was Rs.38.500 Millions, and other income
Rs.4.500 Millions.
Windsor shares closed at 31.60 on August 04, 2014 (BSE) and
has given 60.41% returns over the last 6 months and 295.00% over the last 12
months.
Windsor
Machines
Standalone
Quarterly Results
|
Particulars |
June
2014 Rs.
In Millions |
|
Sales Turnover |
504.600 |
|
Other Income |
3.100 |
|
Total Income |
507.700 |
|
Total Expenses |
500.300 |
|
Operating Profit |
4.300 |
|
Profit On Sale Of Assets |
-- |
|
Profit On Sale Of Investments |
-- |
|
Gain/Loss On Foreign Exchange |
-- |
|
VRS Adjustment |
-- |
|
Other Extraordinary Income/Expenses |
-- |
|
Total Extraordinary Income/Expenses |
-- |
|
Tax On Extraordinary Items |
-- |
|
Net Extra Ordinary Income/Expenses |
-- |
|
Gross Profit |
7.400 |
|
Interest |
2.00 |
|
PBDT |
5.300 |
|
Depreciation |
10.300 |
|
Depreciation On Revaluation Of Assets |
-- |
|
PBT |
(5.000) |
|
Tax |
(0.600) |
|
Net Profit |
(4.400) |
|
Prior Years Income/Expenses |
-- |
|
Depreciation for Previous Years Written Back/ Provided |
-- |
|
Dividend |
-- |
|
Dividend Tax |
-- |
|
Dividend (%) |
-- |
|
Earnings Per Share |
-- |
|
Book Value |
-- |
|
Equity |
12.99 |
|
Reserves |
-- |
|
Face Value |
2.00 |
FIXED ASSETS:
·
·
Building and Roads on
· Office Premises
· Plant and Machinery
· Patterns and Jigs
· Computers
· Electrical Installation and Air- Conditioning Plant
· Drawing office Equipments
· Furniture, Fixture and Office Equipments
· Drawing and Technical Know How
· Vehicles
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.61.18 |
|
|
1 |
Rs.102.56 |
|
Euro |
1 |
Rs.81.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
49 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.