MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

MTL INSTRUMENTS PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEM00995B

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

Not Divulged

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Seller of Electric Explosion Prevention Barriers and Safety Devices.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Divulged

 

 

Bankers :

·         Allahabad Bank

International Branch, Anna Theater Building, 41, Mount Road, Chennai – 600002, Tamilnadu, India

 

 

 

 

Banking Relations :

 

 

 

Auditors :

 

Name :

BSR and Company

Chartered Accountants

Address :

10, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Tel. No.:

91-44-39145000

Fax No.:

91-44-39145999

Income-tax PAN of auditor or auditor's firm :

AAAFB9852F

 

 

Holding Company :

·         MTL Instruments Group Limited, UK

·         Cooper Course Hinds Pte. Limited, Singapore

 

 

Ultimate Holding Company :

Cooper  Industries Pte, Ireland

 

 

Fellow Subsidiaries :

·         Measurement Technologies Limited, UK

·         Cooper Course Hinds MTL, Inc. USA [Formerly Known as MTL Inc. USA]

·         Cooper Electric  (Shanghai) Company Limited, China [Formally Known as MTL instruments (Shanghai) China]

·         Cooper Industries Japan KK, Japan [Formerly Known as MTL Instruments KK, Japan]

·         MTL Instruments GmbH, Germany

·         Cooper Course Hinds GmbH, Germany

·         RTK Instruments Limited, UK

·         Cooper Corp SAS, France

·         Cooper Safety Limited, UK

·         Cooper Course Hinds LLC, USA

·         Cooper Course Hinds, LLC, Dubai

·         Cooper Electrical, Australia

·         Cooper Lighting, USA

·         MEDC Limited, UK

·         Cooper Course – Hinds (UK) Limited

·         Cooper Korea Limited, Crouse Hinds

·         Cooper Industries (FZS)

·         Ex Innovations Limited T/A Raxton

·         Cooper Course Hinds Division

·         Cooper India Private Limited  

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

 

 

No. of Shares

Cooper Crouse Hinds Pte Limited, Singapore

 

37681

M Kandaswamy

 

3

WS Green Halgh

 

1

 

 

 

TOTAL

 

 

37685

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4.500

4.500

4.500

(b) Reserves & Surplus

613.679

547.512

475.149

(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)

618.179

552.012

479.649

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.652

1.221

0.000

Total Non-current Liabilities (3)

1.652

1.221

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

62.206

67.431

65.030

(c) Other current liabilities

9.751

6.616

7.704

(d) Short-term provisions

23.875

17.623

1.228

Total Current Liabilities (4)

95.832

91.670

73.962

 

 

 

 

TOTAL

715.663

644.903

553.611

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

47.894

50.996

53.225

(ii) Intangible Assets

0.052

0.087

0.145

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

5.329

4.369

5.996

(d) Long-term Loan and Advances

56.162

50.434

50.434

(e) Other Non-current assets

5.000

5.000

0.000

Total Non-Current Assets

114.437

110.886

109.800

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

106.396

108.868

109.703

(c) Trade receivables

131.992

116.262

158.713

(d) Cash and cash equivalents

284.873

261.917

136.135

(e) Short-term loans and advances

71.828

43.238

37.664

(f) Other current assets

6.137

3.732

1.596

Total Current Assets

601.226

534.017

443.811

 

 

 

 

TOTAL

715.663

644.903

553.611

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Turnover

561.670

622.712

534.934

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

87.114

109.439

30.919

 

 

 

 

 

Less

TAX                                                                 

20.947

37.076

14.404

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

66.167

72.363

16.515

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

500.609

428.246

411.731

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

566.776

500.609

428.246

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of Exports

416.175

465.110

410.169

 

 

Service Income

21.520

15.263

11.386

 

TOTAL EARNINGS

437.695

480.373

421.555

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

195.895

243.470

222.768

 

 

Others

20.053

10.539

4.644

 

TOTAL IMPORTS

215.948

254.009

227.412

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1470.37

1608.07

--

 

 

COMPANY OVERVIEW:

 

Subject was incorporated in 1989 and is currently a subsidiary of Cooper- Hinds Pte Limited, Singapore. The ultimate holding is Cooper Industries Pte. Ireland. The company is engaged in the manufacture and sale of electric explosion prevention barriers and safety devices. The company also manufactures single converters and isolators, primarily for export to Group Companies, World Wide. The company is also engaged in the trading of isolators, barriers and surge protection devices. 

 

 

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

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office :

No.36, Nehru Street, 3, Old Mahabalipuram Road, Sholinganallur, Chennai – 600119, Tamilnadu, India

Tel. No.:

91-44-44501550

Fax No.:

91-44-24501657

E-Mail :

ganapathy.v@cooperindustries.com

sriram.s@cooperindustries.com

sales@cooperindustries.com

Website :

www.mtl.inst.com

 

 

Branch Offices :

Located at:

 

·         Mumbai

·         New Delhi

·         Kolkata

·         Bangalore

·         Gujarat

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.