MIRA INFORM REPORT
|
Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAINT-GOBAIN INDIA LIMITED |
|
|
|
|
Formally Known
as : |
SAINT-GOBAIN GLASS INDIA LIMITED |
|
|
|
|
Registered Office
: |
Sigapi Achi Building Floor No.7, 18/3, Rukmini Lakshmipathy Road,
Egmore, Chennai – 600008, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.04.1997 |
|
|
|
|
Com. Reg. No.: |
18-037875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 943.640 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26109TN1997PLC037875 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Glass. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
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 |
|
Maximum Credit Limit : |
USD 69400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. There seems some continuous dip in the profit of the company. However,
general financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Millions Commercial Paper A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest-credit risk. |
|
Date |
November 05, 2014 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (CONTACT NO.: 91-44-27162832)
LOCATIONS
|
Registered Office : |
Sigapi Achi Building Floor No.7, 18/3, Rukmini Lakshmipathy Road, Egmore,
Chennai – 600008, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Plant 1 : |
Level 7, Chettinad Sigapi Achi Building, 18/3, Rukmani Lakshmipathi Road, Egmore, Chennai - 600008, Tamilnadu, India |
|
Tel. No.: |
91-44-45936000 |
|
Fax No.: |
91-44-45936008 |
|
|
|
|
Plant 2 : |
Plot No. A1, Sipcot Industrial Park, District Sriperumpudur - 602106, Tamilnadu,
India |
|
Tel. No.: |
91-44-27162832 |
|
Fax No.: |
91-44-27162840/ 41 |
|
Plant 2 : |
|
|
|
|
|
Plant 3 : |
Located at: · Bhiwadi, Rajasthan, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Anand Yashavant Mahajan |
|
Designation : |
Whole-time director |
|
Address : |
Fiona, 3rd Floor, 176, Juhu Tara Road, Mumbai - 400049, Maharashtra,
India |
|
Date of Birth/Age : |
03.01.1953 |
|
Date of Appointment : |
02.04.1997 |
|
Qualifications : |
B. Com |
|
DIN No.: |
00066320 |
|
|
|
|
Name : |
Joseph Andrew Jude Pereira |
|
Designation : |
Alternate director |
|
Address : |
8, Coral Reef, 55, Chimbai Road, Bandra [West], Mumbai – 400050,
Maharashtra, India |
|
Date of Appointment : |
05.04.2007 |
|
DIN No.: |
00130239 |
|
|
|
|
Name : |
Bhuvaragamurthy Srinivasan Rammurthy
Santhanam |
|
Designation : |
Managing director |
|
Address : |
No. 29, Ranjith Road, Kotturpuram, Chennai – 600085, Tamilnadu, India |
|
Date of Appointment : |
22.01.1998 |
|
Qualifications : |
B. Com |
|
DIN No.: |
00494806 |
|
|
|
|
Name : |
Swaminathan Eisenhower |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. A-102, Prince Villa, 15, Rajamannar Street, T' Nagar, Chennai
- 600017, Tamilnadu, India |
|
Date of Birth/Age : |
24.11.1952 |
|
Date of Appointment : |
26.04.2010 |
|
DIN No.: |
01521855 |
|
|
|
|
Name : |
Ramakrishnan Subramanian |
|
Designation : |
Managing director |
|
Address : |
E-3, Juniper Apartments, TAS Enclave, 10th Main Road Extension, Anna
Nagar, Chennai - 600040, Tamilnadu, India
|
|
Date of Birth/Age : |
26.01.1966 |
|
Date of Appointment : |
26.04.2010 |
|
Qualifications : |
B. Com |
|
DIN No.: |
01521968 |
|
|
|
|
Name : |
Patrick Dupin |
|
Designation : |
Director |
|
Address : |
51, Avenue De Paris F-78000, Versailes, 78000 France |
|
Date of Appointment : |
05.04.2007 |
|
DIN No.: |
01522067 |
|
|
|
|
Name : |
Benoit Marie Bernard Diribarne |
|
Designation : |
Director |
|
Address : |
5 Rus, Bellavoine Le Pecq 78230 France |
|
Date of Appointment : |
09.07.2002 |
|
DIN No.: |
01610383 |
|
|
|
|
Name : |
Tyagarajan Bhaskaran |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. B2, Plot No. 587, School Road, Anna Nagar West Extn, Chennai
- 600101, Tamilnadu, India |
|
Date of Birth/Age : |
20.07.1960 |
|
Date of Appointment : |
26.04.2010 |
|
DIN No.: |
02168348 |
|
|
|
|
Name : |
Jean Pierre Floris |
|
Designation : |
Director |
|
Address : |
3 Bis Avenue Gounod, Croissy Sur Seine 78290, France |
|
Date of Appointment : |
01.09.2007 |
|
DIN No.: |
02504627 |
KEY EXECUTIVES
|
Name : |
L Venkateswaran |
|
Designation : |
Secretary |
|
Address : |
Flat No. Foe, 4th Floor, Block 2, Jains Kences Retreat,15, Reddy
Street, Virugumbakkam, Chennai – 600092, Tamilnadu, India |
|
Date of Birth/Age : |
10.02.1958 |
|
Date of Appointment : |
31.03.2010 |
|
PAN No.: |
AAMPV0608D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Saint-Gobain Glass Deutschland |
|
37753813 |
|
Societe de particpations Financeriers et Industrielles |
|
54109767 |
|
Grindwell Norton Limited |
|
2499993 |
|
Grindwell Norton Limited - Anand Yashavant Mahajan |
|
1 |
|
Grindwell Norton Limited – B Santhanam |
|
1 |
|
Grindwell Norton Limited – J.A.J. Pereria |
|
1 |
|
Grindwell Norton Limited – Aju Varghese |
|
1 |
|
Grindwell Norton Limited – Puranik A Mahadev |
|
1 |
|
Grindwell Norton Limited – Prakash Sabard |
|
1 |
|
Grindwell Norton Limited – Deepak Chindarkar |
|
1 |
|
|
|
|
|
Total |
|
94363580 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
97.35 |
|
Bodies
corporate |
2.65 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Glass. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West],
Mumbai - 400013, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
8th Floor, Door No 129-140, Prestige Palladium Greams
Road, Chennai – 600006, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Ultimate Holding
Company : |
Compagnie de Saint-Gobain, France* |
|
|
|
|
Companies having
substantial interest : |
· Societe De Participations Financieres Et Industrielles * · Saint-Gobain Glass Deutschland, Germany * |
|
|
|
|
Fellow
Subsidiaries : |
· Saint-Gobain Promotions et Participations Internationales France · Grindwell Norton India Limited * · Saint-Gobain Seva , France * · Hankuk Glass Industries, Korea · Saint-Gobain Glass Italia, Italy · Saint-Gobain Cristellaria Spain · Saint-Gobain Sekurit India · Limited, India* Saint-Gobain · Vetrotex India Limited · Saint-Gobain Isover France · Saint-Gobain Glass Portugal · Saint Gobain K&K Japan · Saint Gobain Oberland · Saint-Gobain Glass, France * · Saint-Gobain Exprover * · Saint-Gobain Glass UK · Saint Gobain Glass Solar Control * · Saint Gobain SEPR, France * · Saint Gobain Hankuk Japan · Saint Gobain Nanjing · Saint Gobain Sekurit Korea · Saint Gobain Glass Mexico* · Saint Gobain Sekurit Deutschland, GmBH* · Saint Gobain Hanglass, Japan * · Saint Gobain Vitrage Odessa · Saint Gobain Direction Technique* · Saint Gobain Gyproc (Formerly known as India Gypsum)* · Saint Gobain Autover Distribution S.A * · Savoie SEPR · SEPR Italia · Verrerie Aurys · Hankuk Sekurit Limited * · Saint Gobain Hanglas CIFG Qingdao · SG Vertax · Shanghai Saint Jungle · Saint Gobain Sekurit – France * · SG Glass Polska * · Saint-Gobain Glass Benelux S.A. * · SG Sekurit Thailande Co Limited · Cesa Construction · Najing New Nawnoo Glass Industries * · SG Glass Italia SpA · SG Glass Romania, SRL · Saint Gobain India Delegation* · Saint Gobain Crystal and Detectors India Limited · SEPR Refractories India Limited * · Saint Gobain India Foundation* · Saint-Gobain Techniver S.A* · Saint-Gobain Cristaleria S.A · Vetrotech Saint-Gobain Hong Kong · Vetrotech Saint-Gobain International AG * · Verrerie de Saint-Just · Saint-Gobain Glass UK Limited · Saint-Gobain Hanglas Sekurit (Shanghai) Co., Limited · Saint-Gobain (Singapore) Pte Limited · Saint-Gobain Autover International BV * · Savoie Réfractaires · Saint-Gobain Recherche * · Direction technique internationale * · Saint-Gobain Conceptions Verrieres * · Saint-Gobain Photovoltaic Glass · Saint-Gobain Cristaleria S.A · Vetrotech Saint Gobain FR * · Saint Gobain Vidros S/A · Eckelt Glas GMBH* · Crisa-Norte, Spain · Saint – Gobain do Brasil Produtos* · Cebrace crystal Plano * · Saint – Gobain K.K. , Tokyo* · Saint-Gobain Sekurit CR spol. s r.o, Czech Republic · Saint Gobain Glass Egypt* |
NOTE:
* Represents related parties with whom the Company had transactions during the year.
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94,364,000 |
Equity Shares |
Rs. 10/- each |
Rs. 943.640 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94,363,580 |
Equity Shares |
Rs. 10/- each |
Rs. 943.636
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94,364,000 |
Equity Shares |
Rs. 10/- each |
Rs. 943.640 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94,364,000 |
Equity Shares |
Rs. 10/- each |
Rs. 943.640 Millions |
|
|
|
|
|
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 |
943.640 |
943.640 |
697.350 |
|
(b) Reserves & Surplus |
16407.390 |
16198.210 |
10522.100 |
|
(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) |
17351.030 |
17141.850 |
11219.450 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4382.660 |
4461.590 |
772.070 |
|
(b) Deferred tax liabilities (Net) |
1641.200 |
1567.500 |
1290.000 |
|
(c)
Other long term liabilities |
172.790 |
182.760 |
107.480 |
|
(d)
long-term provisions |
41.000 |
36.020 |
25.720 |
|
Total
Non-current Liabilities (3) |
6237.650 |
6247.870 |
2195.270 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2780.760 |
1876.680 |
817.330 |
|
(b)
Trade payables |
3325.710 |
2839.810 |
2092.430 |
|
(c)
Other current liabilities |
1734.180 |
2085.720 |
849.880 |
|
(d)
Short-term provisions |
41.840 |
34.230 |
72.390 |
|
Total
Current Liabilities (4) |
7882.490 |
6836.440 |
3832.030 |
|
|
|
|
|
|
TOTAL |
31471.170 |
30226.160 |
17246.750 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
15450.040 |
16185.050 |
10326.140 |
|
(ii)
Intangible Assets |
280.520 |
351.760 |
12.800 |
|
(iii)
Capital work-in-progress |
7373.360 |
5146.620 |
672.240 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
289.160 |
244.230 |
244.230 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
415.790 |
685.060 |
1332.420 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
23808.870 |
22612.720 |
12587.830 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.110 |
0.000 |
|
(b)
Inventories |
3771.360 |
3871.110 |
2194.250 |
|
(c)
Trade receivables |
2590.400 |
2396.510 |
1790.840 |
|
(d)
Cash and cash equivalents |
145.260 |
351.030 |
248.630 |
|
(e)
Short-term loans and advances |
1043.220 |
863.330 |
422.450 |
|
(f)
Other current assets |
112.060 |
131.350 |
2.750 |
|
Total
Current Assets |
7662.300 |
7613.440 |
4658.920 |
|
|
|
|
|
|
TOTAL |
31471.170 |
30226.160 |
17246.750 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
18070.320 |
15861.420 |
13315.160 |
|
|
|
Other Income |
87.090 |
88.220 |
107.330 |
|
|
|
TOTAL (A) |
18157.410 |
15949.640 |
13422.490 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4863.730 |
4198.060 |
3203.960 |
|
|
|
Purchases of Stock-in-Trade |
278.250 |
881.290 |
388.910 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
41.720 |
(1045.540) |
(71.550) |
|
|
|
Employees benefits expense |
951.300 |
840.730 |
760.110 |
|
|
|
Other expenses |
9862.400 |
8224.160 |
5923.640 |
|
|
|
TOTAL (B) |
15997.400 |
13098.700 |
10205.070 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2160.010 |
2850.940 |
3217.420 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
201.520 |
255.810 |
85.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1958.490 |
2595.130 |
3131.820 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1631.970 |
1489.380 |
1058.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
326.520 |
1105.750 |
2073.690 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
117.340 |
355.360 |
687.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
209.180 |
750.390 |
1385.970 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1845.070 |
1100.370 |
1061.818 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.22 |
8.48 |
20.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.15 |
4.70 |
10.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.81 |
6.97 |
15.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.37 |
4.45 |
12.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.06 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.41 |
0.37 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
1.11 |
1.22 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
697.350 |
943.640 |
943.640 |
|
Reserves & Surplus |
10522.100 |
16198.210 |
16407.390 |
|
Net
worth |
11219.450 |
17141.850 |
17351.030 |
|
|
|
|
|
|
long-term borrowings |
772.070 |
4461.590 |
4382.660 |
|
Short term borrowings |
817.330 |
1876.680 |
2780.760 |
|
Total
borrowings |
1589.400 |
6338.270 |
7163.420 |
|
Debt/Equity ratio |
0.142 |
0.370 |
0.413 |
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 |
13315.160 |
15861.420 |
18070.320 |
|
|
|
19.123 |
13.926 |
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 |
13315.160 |
15861.420 |
18070.320 |
|
Profit |
1385.970 |
750.390 |
209.180 |
|
|
10.41% |
4.73% |
1.16% |
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 |
-- |
|
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 LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans and advances |
4382.660 |
3680.340 |
|
SHORT TERM BORROWINGS |
|
|
|
Term loans from banks |
1911.520 |
1375.370 |
|
|
|
|
|
Total |
6294.180 |
5055.710 |
INDEX OF CHARGES:
No Charges Exist for Company
GENERAL INFORMATION
Subject is engaged primarily in the business of glass. The
company has manufacturing plants at Sriperumbattur, Tamilnadu and Jhagadia,
Gujarat. The company is a public limited company and its shares are not listed
on any of the stock exchanges in India or abroad.
OPERATIONS
The sales during the financial year 2012-13 grew by 19%.
There were significant increases in the cost of raw materials, energy, packing
and transportation. The depreciation of Indian Rupee against US $ also had a
significant impact on the cost. The automobile market also had slow growth in
most part of the year. The global economy had negative growth. The Indian
Economy grew at a lower rate. The Company is operating in a market which is
highly competitive. There were significant increases in dumped imports from
Middle East countries and Pakistan at low prices due to which the company was
not able to get adequate price increases. The Profit before Tax for 2012-13 was
lower by 72% over the previous year.
FUTURE PROSPECTS
The Company is likely to face challenging situation in the next financial year also. The recent steep depreciation in Indian Rupee adds further to the Company’s challenges. The Indian Economy is also projected to grow at a lower rate and the global economy also faces similar situation. The Company is taking various measures to reduce cost.
The plant construction work at Bhiwadi, Rajasthan, where the
Company is setting up a new facility, is nearing completion.
FIXED ASSETS:
· Land
·
Buildings
·
Office
building
·
Plant
and equipment
·
Other
plant and equipment
·
Furniture
and fixtures
·
Vehicles
·
Motor
vehicles
·
Computer
software
·
Copyrights,
patents and other operating rights
·
Other
intellectual property rights
·
Know-how
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. 62.14 |
|
|
1 |
Rs. 97.05 |
|
Euro |
1 |
Rs. 77.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
61 |
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.