MIRA
INFORM REPORT
|
Report Date : |
25.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAMOND POWER INFRASTRUCTURE LIMITED |
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Formerly Known
As : |
DIAMOND CABLES LIMITED |
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Registered
Office : |
Phase II, Village Vadadala, Taluka Savli, District |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.08.1992 |
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Com. Reg. No.: |
04-018198 |
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Capital Investment
/ Paid-up Capital : |
Rs. 581.419 Millions |
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CIN No.: [Company Identification
No.] |
L31300GJ1992PLC018198 |
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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 of conductors, cables and selling out- sourced products and EPC Contracts. |
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No. of Employees
: |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems some dip in the profit of the company during 2013. However
networth of the company is satisfactory. General financial position of the
company is good. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct 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 |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
04.09.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
04.09.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Chirag Kothari |
|
Designation : |
Account Manger |
|
Contact No.: |
91-265-2284328 |
LOCATIONS
|
Registered Office / Factory : |
Phase II, Village Vadadala, Taluka Savli, District Baroda – 391 520,
Gujarat, India |
|
Tel. No.: |
91-2667-251516 / 251354 / 251517 |
|
Fax No.: |
91-2667-251202 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
Essen House, 5/9-10, B.I.D.C., Gorwa, Vadodara – 390016, Gujarat,
India |
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Tel No: |
91-265-2284328 / 2283969 |
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Fax No.: |
91-265-2280528 |
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Email : |
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Marketing Office : |
403, 4th Floor, Subham Complex, Chakala Andheri Kurla Road,
Andheri (East) Mumbai-400099, Maharashtra, India |
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Branch Office : |
Located at ·
New Delhi ·
Chennai ·
Bangalore ·
Mumbai ·
Surat ·
Ahmedabad ·
Indore |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. S.N. Bhatnagar |
|
Designation : |
Chairman |
|
Qualification : |
Mechanical Engineer |
|
Experience : |
50 years |
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|
Name : |
Mr. Amit Bhatnagar |
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Designation : |
Managing Director |
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Qualification : |
Bachelor’s degree in Industrial Engineering (gold medalist) from Saurashtra University and MBA in Finance and MOP with a gold medal from the Asian Institute of Management, Manila. |
|
Experience : |
24 years |
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|
Name : |
Dr. Sumit Bhatnagar |
|
Designation : |
Joint Managing Director |
|
Qualification : |
BE in Electronics from Pune University |
|
Experience : |
20 years |
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|
Name : |
Mr. Karthik Athreya |
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Designation : |
Non-Executive Nominee Director |
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Qualification : |
Commerce degree from Loyola College, Chennai. |
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|
Name : |
Mr. Bhavin Shah |
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Designation : |
Non-Executive Director |
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Qualification : |
Chartered Accountant and holds an MBA from the Indian Institute of Management (IIM), Ahmedabad. |
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|
Name : |
Dr. Kirit Vyas |
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Designation : |
Non-Executive Independent Director |
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Qualification : |
Doctor of Philosophy and Master of Science in Chemical Engineering from Illinois Institute of Technology, Chicago, Illinois, U.S.A. |
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|
|
|
Name : |
Mr. Ranvir Singh Shekhawat |
|
Designation : |
Non-executive Independent Direct |
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|
Name : |
Mr. Aswini Sahoo |
|
Designation : |
Non-Executive Independent Director |
|
Date of Birth/Age : |
40 years |
|
Qualification : |
degree in Mechanical Engineering from Regional Engineering College, Rourkela and Post- Graduate diploma in management from the Indian Institute of Management, Bangalore. |
|
Experience : |
14 Years |
KEY EXECUTIVES
|
Name : |
Mr. Nishant Javlekar |
|
Designation : |
Company Secretary |
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|
Name : |
Mr. Jayramrao Marathe |
|
Designation : |
Executive Director (EPC Division)* |
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|
Name : |
Miss. Nivedita Pandya |
|
Designation : |
Technical advisor and Executive director (Projects)* |
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|
Name : |
Mr. P. Sridharan |
|
Designation : |
Director- Operations* (Diamond Power Transformers Limited) |
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|
Name : |
Mr. Jaideep Nigam |
|
Designation : |
Director Exports*(Diamond Power Global Holdings Limited, Dubai) |
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|
Name : |
Mr. Kirit. S. Dave |
|
Designation : |
Sr. Vice President – EPC Division Diamond Power Infrastructure Limited |
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|
Name : |
Mr. Prakash Mahajan |
|
Designation : |
Sr. Vice President – Cables |
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|
Name : |
Mr. Bhagwan Makhijani |
|
Designation : |
Sr. Vice President – Finance and Strategic Initiatives and CFO (Diamond Power Transformers Limited) |
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|
Name : |
Mr. Pankaj Pandya |
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Designation : |
Vice- President – Commercial and Engineering Services |
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|
Name : |
Mr. Rashesh Chhaya |
|
Designation : |
Vice President – Supply Chain |
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|
Name : |
Mr. Ghanshyam Singh |
|
Designation : |
Vice President – LT Cables and Conductors |
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|
Name : |
Mr. Ramesh Mishra |
|
Designation : |
Vice President – Testing (HT Plant) |
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|
Name : |
Mr. Rajesh Dutta |
|
Designation : |
Vice President – Marketing |
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|
Name : |
Mr. Jagdish Jain |
|
Designation : |
Vice President – HT Cables and EHV Cables |
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|
Name : |
Mr. Prem Shekhar Prasad |
|
Designation : |
Vice President – EPC |
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|
Name : |
Mr. Vijay Shankar N S |
|
Designation : |
Vice President – QTP and PPC |
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|
Name : |
Mr. Lakhamshi R. Patel |
|
Designation : |
Vice – President (Marketing) Diamond Power Transformers Limited. |
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|
Name : |
Mr. Pratik Shah |
|
Designation : |
Vice President (Accounts) |
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|
Name : |
Mr. Dashrath M. Patel |
|
Designation : |
Vice – President of Diamond Power Transformers Limited. |
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|
Name : |
Mr. Mukesh R Patel |
|
Designation : |
Vice President – HR |
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|
Name : |
Mr. U K Shashidharan |
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Designation : |
Assistant Vice President – Transmission Tower Production |
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|
Name : |
Mr. M. Srinivassan |
|
Designation : |
Assistant Vice President – Marketing |
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|
Name : |
Mr. Panicker Sugathan |
|
Designation : |
Assistant Vice President – Purchase |
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|
Name : |
Mr. Omprakash Atre |
|
Designation : |
Assistant Vice President – Logistics and Warehouse |
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|
Name : |
Mr. Chirag Kothari |
|
Designation : |
Account Manger |
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 |
|
|
|
|
|
|
|
|
5483393 |
10.15 |
|
|
11871746 |
21.98 |
|
|
17355139 |
32.14 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
17355139 |
32.14 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
81407 |
0.15 |
|
|
8738786 |
16.18 |
|
|
8820193 |
16.33 |
|
|
|
|
|
|
9565483 |
17.71 |
|
|
|
|
|
|
7200374 |
13.33 |
|
|
4280667 |
7.93 |
|
|
6778639 |
12.55 |
|
|
212571 |
0.39 |
|
|
1172025 |
2.17 |
|
|
2449623 |
4.54 |
|
|
2944420 |
5.45 |
|
|
27825163 |
51.53 |
|
Total Public shareholding (B) |
36645356 |
67.86 |
|
Total (A)+(B) |
54000495 |
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) |
54000495 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of conductors, cables and selling out- sourced products and EPC Contracts. |
|
|
|
|
Brand Names : |
DIATRON |
PRODUCTION STATUS (As on 31.03.2013)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
All Aluminum Alloy Conductors and CSR Conductor (Excluding Conductors used In Cables) |
MTPA. |
NA |
50500 |
43035 |
|
LT Electric Power Cables and Control Cables |
Kms |
NA |
34300 |
30589 |
|
HT Cables |
Kms |
NA |
5600 |
5485 |
|
EHV Cables |
Kms |
NA |
2000 |
1035 |
|
Transmission Towers |
MT |
NA |
48000 |
47031 |
Note:
Consumption of Assorted Wire / Wire rods is not provided, as they are totally consumed in-house for manufacture of conductors. Installed capacity and capacity utilization are as certified by the management and not verified by the auditors being a technical matter. The quantity in Kms. cannot comparable as the weight per Kms of each conductor varies on the cross section area and current carrying capacity. Hence, the production has been shown in Kms. The Quantity are usually taken as per relevant IS standards
GENERAL INFORMATION
|
No. of Employees : |
3000 (Approximately) |
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Bankers : |
·
Bank of India ·
Allahabad Bank ·
Axis Bank ·
Dena Bank ·
Bank of Baroda ·
Indian Overseas Bank ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Vijay Tewar and Company Chartered Accountants |
|
Address : |
315-316, Panorama, R.C. Dutt Road, Vadodara-390007, Gujarat, India |
|
Tel. No.: |
91-265-2334295 / 2337702 |
|
Fax No.: |
91-265-3083444 |
|
E-Mail : |
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|
Website : |
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|
|
Associates : |
·
Diamond Info systems Limited ·
Diamond Projects Limited |
|
|
|
|
Subsidiaries : |
·
Diamond Power Transformers Limited ·
Diamond Power Global Holding Limited ·
Diamond Power Transmission Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Rs.600.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.581.420 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 |
581.420 |
372.064 |
372.064 |
|
(b) Reserves & Surplus |
8754.735 |
6564.717 |
5701.596 |
|
(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) |
9336.155 |
6936.781 |
6073.660 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
6724.877 |
6082.883 |
3336.602 |
|
(b) Deferred tax liabilities (Net) |
90.000 |
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) |
6814.877 |
6082.883 |
3336.602 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
6000.000 |
5228.906 |
3623.407 |
|
(b)
Trade payables |
1126.783 |
1029.023 |
2351.386 |
|
(c) Other
current liabilities |
4028.417 |
3752.916 |
270.008 |
|
(d) Short-term
provisions |
218.985 |
328.189 |
304.302 |
|
Total Current
Liabilities (4) |
11374.185 |
10339.034 |
6549.103 |
|
|
|
|
|
|
TOTAL |
27525.217 |
23358.698 |
15959.365 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
9401.553 |
6971.210 |
5534.226 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
170.780 |
170.780 |
170.780 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2421.841 |
2222.489 |
1193.154 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
11994.174 |
9364.479 |
6898.160 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.060 |
0.060 |
0.060 |
|
(b)
Inventories |
11495.370 |
8491.317 |
5906.687 |
|
(c)
Trade receivables |
2370.143 |
3993.103 |
1995.739 |
|
(d) Cash
and cash equivalents |
915.614 |
924.719 |
486.576 |
|
(e)
Short-term loans and advances |
749.856 |
585.020 |
672.143 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
15531.043 |
13994.219 |
9061.205 |
|
|
|
|
|
|
TOTAL |
27525.217 |
23358.698 |
15959.365 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11794.029 |
7558.739 |
17403.773 |
|
|
|
Other Income |
41.316 |
16.483 |
32.053 |
|
|
|
TOTAL (A) |
11835.345 |
7575.222 |
17435.826 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
11351.105 |
6606.408 |
17925.761 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(861.475) |
31.857 |
(2850.192) |
|
|
|
Employees benefits expense |
160.123 |
91.312 |
217.011 |
|
|
|
Other expenses |
386.465 |
154.900 |
181.315 |
|
|
|
TOTAL (B) |
11036.218 |
6884.477 |
15473.895 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
799.127 |
690.745 |
1961.901 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
407.711 |
333.385 |
485.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
391.416 |
357.360 |
1476.811 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
158.781 |
74.850 |
242.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
232.635 |
282.510 |
1233.885 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(9.042) |
66.161 |
150.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
241.677 |
216.349 |
1083.885 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.42 |
4.36 |
29.13 |
|
QUARTERLY /
SUMMARISED RESULTS
|
Particulars (Rs.Cr) |
|
|
|
Jun 2014 |
|
Audited / UnAudited |
|
|
|
UnAudited |
|
Net Sales |
|
|
|
8050.400 |
|
Total Expenditure |
|
|
|
7147.800 |
|
PBIDT (Excl OI) |
|
|
|
902.700 |
|
Other Income |
|
|
|
19.000 |
|
Operating Profit |
|
|
|
921.700 |
|
Interest |
|
|
|
298.100 |
|
Exceptional Items |
|
|
|
0.000 |
|
PBDT |
|
|
|
623.600 |
|
Depreciation |
|
|
|
147.200 |
|
Profit Before Tax |
|
|
|
476.400 |
|
Tax |
|
|
|
111.700 |
|
Provisions and contingencies |
|
|
|
0.000 |
|
Profit After Tax |
|
|
|
364.700 |
|
Extraordinary Items |
|
|
|
0.000 |
|
Prior Period Expenses |
|
|
|
0.000 |
|
Other Adjustments |
|
|
|
0.000 |
|
Net Profit |
|
|
|
364.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.04 |
2.86 |
6.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.97 |
3.74 |
7.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.85 |
1.22 |
7.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.04 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.36 |
1.63 |
1.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.35 |
1.38 |
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 |
372.064 |
372.064 |
581.420 |
|
Reserves & Surplus |
5701.596 |
6564.717 |
8754.735 |
|
Net worth |
6073.660 |
6936.781 |
9336.155 |
|
|
|
|
|
|
long-term borrowings |
3336.602 |
6082.883 |
6724.877 |
|
Short term borrowings |
3623.407 |
5228.906 |
6000.000 |
|
Total borrowings |
6960.009 |
11311.789 |
12724.877 |
|
Debt/Equity ratio |
1.146 |
1.631 |
1.363 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
17403.773 |
7558.739 |
11794.029 |
|
|
|
(56.568) |
56.032 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
17403.773 |
7558.739 |
11794.029 |
|
Profit |
1083.885 |
216.349 |
241.677 |
|
|
6.23% |
2.86% |
2.05% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Unsecured Loans From Lender |
NA |
1960.027 |
|
Other Loans and Advances ( Car Loan) |
NA |
7.364 |
|
Total |
NA |
1967.391 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2014
|
Sr. No. |
Particulars |
Rs in Millions |
||
|
Quarter ended |
||||
|
as on 30.06.2014 |
||||
|
(Unaudited) |
||||
|
1 |
(a) Net Sales/Income from Operations |
8050.414 |
||
|
|
(b)Other Operating Income |
0.000 |
||
|
|
Total Income
From Operations (Net) |
8050.414 |
||
|
2 |
Expenditure |
|
||
|
|
(a) |
Cost of Materials Consumed |
7170.101 |
|
|
|
(b) |
Purchases of Stock-in-Trade |
0.000 |
|
|
|
(c) |
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(271.733) |
|
|
|
(d) |
Employees benefits expense |
91.378 |
|
|
|
(e) |
Depreciation and amortization expense |
147.163 |
|
|
|
(f ) |
Other expenses |
158.021 |
|
|
|
|
TOTAL (B) |
7294.929 |
|
|
|
|
|
||
|
3 |
Profit from operation before other income, interest and other
exceptional items(1-2) |
755.485 |
||
|
4 |
Other Income |
19.044 |
||
|
5 |
profit before interest and exceptional items(3+4) |
774.529 |
||
|
6 |
Interest |
298.105 |
||
|
7 |
Profit after interest but before exceptional items(5-6) |
476.423 |
||
|
8 |
Exceptional Items |
-- |
||
|
9 |
Profit(+)/Loss(-) from Ordinary Activities before tax (7-8) |
476.423 |
||
|
10 |
Tax Expenses |
111.733 |
||
|
11 |
Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10) |
364.691 |
||
|
12 |
Extra Ordinary Items |
-- |
||
|
13 |
Net Profit(+)/Loss(-) for the period (11-12) |
364.691 |
||
|
14 |
Paid-up Equity Share Capital |
540.005 |
||
|
15 |
Reserves excluding revaluation reserves |
-- |
||
|
16 |
Earning Per
Share |
|
||
|
(a) |
Basic and diluted EPS before Extraordinary items for the period, for
the year to date and for the previous year(not to be annualised) |
6.75 |
||
|
(b) |
Basic and diluted EPS after
Extraordinary items for the period, for the year to date and for the previous
year(not to be annualised) |
6.75 |
||
|
17 |
Public
Shareholding |
|
||
|
|
Number of Shares |
37056349 |
||
|
|
Percentage of Shareholding |
68.62 |
||
|
18 |
Promoters and Promoter group |
|
||
|
|
a) Pledged/Encumbered |
|
||
|
|
Number of shares |
-- |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
-- |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
-- |
||
|
|
b) Non-encumbered |
|
||
|
|
Number of shares |
16944146 |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
100.00 |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
31.38 |
||
|
|
Particulars |
3 months ended 30.06.2014 |
||
|
|
INVESTOR
COMPLAINTS |
|
||
|
|
Pending at the beginning of the quarter |
NIL |
||
|
|
Received during the quarter |
70.00 |
||
|
|
Disposed off during the quarter |
70.00 |
||
|
|
Remaining unresolved at the end of the quarter |
NIL |
||
|
Particulars |
For The Quarter Ended On 30.06.2014 (Unaudited) |
|
Segment Revenue : |
|
|
Conductors |
1357.517 |
|
Power Infrastructure |
287.500 |
|
Power Cables |
3597.135 |
|
Transformer |
1191.199 |
|
Towers |
1617.065 |
|
Total |
8050.415 |
|
Less : Intersegment Sales |
-- |
|
Net Sales |
8050.415 |
|
|
|
|
Segment Results : |
|
|
Conductors |
149.557 |
|
Power Infrastructure |
41.577 |
|
Power Cables |
478.588 |
|
Transformer |
95.5279 |
|
Towers |
156.691 |
|
Total |
921.692 |
|
Less : Interest Expenses |
298.105 |
|
Less : Depreciation |
147.163 |
|
Total |
476.423 |
|
Capital Employed |
|
|
Conductors |
5877.364 |
|
Power Infrastructure |
115.703 |
|
Power Cables |
9700.422 |
|
Towers |
2747.248 |
|
Transformer |
1901.525 |
|
Windmill |
-- |
|
Unallocable Capital Employed |
9245.954 |
|
Total |
29588.215 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10485499 |
28/02/2014 |
14,292,700,000.00 |
BANK OF INDIA- LEAD BANK |
VADODARA MID CORPORATE BRANCH, BANK OF INDIA BUILDING, 2ND FLOOR, RAOPURA, VADODARA - 390001, GUJARAT, INDIA |
C00706440 |
|
2 |
10483882 |
25/04/2014 * |
300,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
C07350150 |
|
3 |
10422706 |
30/03/2013 |
2,860,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, ALKAPURI, R C DUTT ROAD, VAODADARA - 390007, GUJARAT, INDIA |
B74030883 |
|
4 |
10417251 |
29/03/2013 |
400,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V.
B. GANDHI MARG, FORT, MUMBAI - 400001, |
B72453046 |
|
5 |
10412962 |
22/03/2013 |
500,000,000.00 |
STATE BANK OF MYSORE |
GROUND FLOOR, SHITI RATNA BUILDING, PANCHWATI CIRCLE,, AHMEDABAD - 380006, GUJARAT, INDIA |
B71183495 |
|
6 |
10411402 |
01/03/2013 |
1,186,000,000.00 |
BANK OF INDIA |
VADODARA MID CORPORATE BRANCH, BANK OF INDIA BUILDING, 2ND FLOOR, RAOPURA, VADODARA - 390001, GUJARAT, INDIA |
B70645213 |
|
7 |
10387327 |
28/02/2014 * |
1,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND, |
B98866502 |
|
8 |
10376976 |
28/02/2014 * |
3,400,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND, |
B98867997 |
|
9 |
10404831 |
30/03/2013 * |
13,876,000,000.00 |
ICICI BANK LTD. |
ZONAL HOUSE,9TH FLOOR,JMC HOUSE,, OPP. PARIMAL GARDEN.AMBAVADI., AHMEDABAD - 380006, GUJARAT, INDIA |
B72838402 |
|
10 |
10325517 |
13/12/2011 |
4,400,000,000.00 |
AXIS BANK LIMITED |
VARDHAMAN COMPLEX,, OPP. GEB, RACE COURSE,, VADODARA - 390007, GUJARAT, INDIA |
B28745230 |
FIXED ASSETS:
· Land and Site Development
· Building
· Plant and Machinery
· Electrical Installation
· Furniture and Fixture / Equipments
·
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
judgment 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. 60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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.