MIRA INFORM REPORT
|
Report Date : |
17.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRATIBHA INDUSTRIES LIMITED |
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Registered
Office : |
Shrikant Chambers, Phase II, 5th Floor, Sion-Trombay Road,
Next to R.K. Studio, Chembur, Mumbai – 400 071, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.07.1995 |
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Com. Reg. No.: |
11-090760 |
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Capital
Investment / Paid-up Capital : |
Rs.348.850
millions |
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CIN No.: [Company Identification
No.] |
L45200MH1995PLC090760 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP08929E |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged into infrastructure development and also engaged in manufacturing and coating of Saw Pipes. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. There seems some dip in the turnover and profit of the company during
2014. However, general financial position of the company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for normal 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
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Rating |
Bank facilities fund based BBB+ |
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Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
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Date |
Nov 13, 2014 |
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Rating Agency Name |
CARE |
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Rating |
Bank facilities non fund based A3+ |
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Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
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Date |
Nov 13, 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 (91-22-39559999)
LOCATIONS
|
Registered Office : |
Shrikant Chambers, Phase II, 5th Floor, Sion-Trombay Road,
Next to R.K. Studio, Chembur, Mumbai – 400 071, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9930458515 (Mr. Pankaj Chourasia) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office/ Corporate Office : |
14th
Floor, Universal Majestic, P.L Lokhande Marg, Off. |
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Tel. No.: |
91- 22-39559999 |
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Fax No.: |
91- 22-39559900 |
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E-Mail : |
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Factory : |
Plot No.215,
Vljaypur, P.O. Kone, Bhiwandi-Wada Road, Tal Wada, District Thane-421303,
Maharashtra, India |
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Site Office : |
Magnum Developers,
Lalbaug Plant, Chewda Galli, Opposite Lalbaug Raja, Lok Satta Campus, Mumbai,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mrs. Usha B. Kulkarni |
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Designation : |
Chairperson |
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Name : |
Mr. Ajit B. Kulkarni |
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Designation : |
Managing Director |
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Name : |
Mr. Ravi A. Kulkarni |
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Designation : |
Whole Time Director |
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Name : |
Mr. Sharad P. Deshpande |
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Designation : |
Whole Time Director |
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Name : |
Mr. Awinash M. Arondekar |
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Designation : |
Director |
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Name : |
Mr. Shrikant T. Gadre |
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Designation : |
Director |
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Name : |
Dr. S. L. Dhingra |
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Designation : |
Director |
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Name : |
Mr. V. Sivakumaran |
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Designation : |
Director |
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Name : |
Mr. Vilas B. Parulekar |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj Chourasia |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Category of Shareholder |
No. of Shares |
Percentage of holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
47447512 |
46.95 |
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|
47447512 |
46.95 |
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Total shareholding of Promoter and Promoter Group (A) |
47447512 |
46.95 |
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(B) Public Shareholding |
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|
6309374 |
6.24 |
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|
343432 |
0.34 |
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|
10231174 |
10.12 |
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|
16883980 |
16.71 |
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|
12854775 |
12.72 |
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|
12806251 |
12.67 |
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|
4269338 |
4.22 |
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|
6793536 |
6.72 |
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|
707648 |
0.70 |
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5000 |
0.00 |
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|
645605 |
0.64 |
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|
5434783 |
5.38 |
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|
500 |
0.00 |
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|
36723900 |
36.34 |
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Total Public shareholding (B) |
53607880 |
53.05 |
|
Total (A)+(B) |
101055392 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
|
Total (A)+(B)+(C) |
101055392 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged into infrastructure development and also engaged in manufacturing and coating of Saw Pipes. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2011)
LICENSED CAPACITY
AND INSTALLED CAPACITY
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
M S Pipe |
M.T. |
90.00 |
17.055 |
|
Coating |
M2 |
1800.00 |
262.587 |
ACTUAL PRODUCTION
|
Particulars |
Unit |
Actual
Production |
|
M S Pipe |
M.T. |
15.658 |
|
M S Cut End |
M.T. |
0.970 |
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HR Coil/Plate |
M.T. |
1.993 |
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Coating of Pipe |
M2 |
262.587 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
NOTES:
vii.
Fixed Deposit from Public are repayable within a year from the date of
deposit at an interest rate of 11.50% p.a. and 11.75% p.a. These deposits are
unsecured in nature. |
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Statutory
Auditors : |
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Name : |
Jayesh Sanghrajka and Company Chartered Accountants |
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Internal
Auditors : |
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Name : |
Choksi and Choksi Chartered Accountants |
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Cost Auditors : |
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Name : |
Narasimha Murthy and Company Cost Accountants |
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Subsidiary Companies (As on 31.03.2013) : |
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Associates and Enterprises over which Key Managerial Personnel are
able to exercise significant influence (As on 31.03.2013) : |
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Joint Ventures (As on 31.03.2013) : |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs.2/- each |
Rs.250.000 millions |
|
1631000 |
Compulsorily Convertible Participatory Preferences Shares |
Rs.92/- each |
Rs.150.052 millions |
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Total
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|
Rs.400.052
millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
101055392 |
Equity Shares |
Rs.2/- each |
Rs.202.111
millions |
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|
NOTES:
Reconciliation Of Shares
Outstanding At The Beginning And At The End Of The Reporting Period Equity
Shares
|
PARTICULAR |
AS ON 31.03.2014 |
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|
No. of Shares |
Amount in Millions
|
|
Number
of Shares at the beginning |
101055392 |
202.111 |
|
Add:-
CCPPS Converted into Equity Share |
-- |
-- |
|
Number
of Shares at the end |
101055392 |
202.111 |
Terms/Rights Attached To
Equity Shares
Equity shares are having a
par value of Rs.2 per share. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividend in Indian Rupees. The
dividend proposed by the Board of Directors is subject to the approval of shareholders
in the ensuing Annual General Meeting.
The Board of Directors in
their meeting held on 27th May 2014, proposed final dividend of
Rs.0.60 per share. The proposal is subject to approval of shareholders at next
Annual General Meeting to be held. The total appropriation for the year ended
March 31, 2014 amounted to Rs.23.646 Millions including corporate dividend tax
of Rs.3.435 Millions.
In the event of liquidation
of the Company, the holders of equity shares will be entitled to receive
remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
DETAILS OF SHAREHOLDERS
HOLDING MORE THAN 5% SHARES IN THE COMPANY
|
PARTICULAR |
AS ON 31.03.2014 |
|
|
|
No. of Shares |
% |
|
Equity
shares of Rs.2
each fully paid |
|
|
|
Usha
Bhagwan Kulkarni |
14044750 |
13.90% |
|
Ajit
B. Kulkarni |
16316554 |
16.15% |
|
Sunanda
Datta Kulkarni |
10000000 |
9.90% |
|
Warhol
Limited |
6097561 |
6.03% |
|
Reliance
Capital Trustee Co Ltd A/c Reliance |
6000000 |
5.94% |
|
Van
Dyck |
5434783 |
5.38% |
Company has neither issued
any bonus shares nor any shares (apart from above) pursuant to contract without
payment being received in cash during preceding five years. It has also not
bought back any shares during these years.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
202.111 |
202.111 |
348.850 |
|
(b) Reserves & Surplus |
6616.805 |
6275.246 |
5247.778 |
|
(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) |
6818.916 |
6477.357 |
5596.628 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
5316.057 |
4930.615 |
1795.609 |
|
(b) Deferred tax liabilities (Net) |
431.887 |
335.107 |
240.668 |
|
(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) |
5747.944 |
5265.722 |
2036.277 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
3388.609 |
5242.680 |
4606.161 |
|
(b) Trade payables |
4946.458 |
3148.226 |
3953.490 |
|
(c) Other current liabilities |
12140.263 |
4616.544 |
3995.175 |
|
(d) Short-term provisions |
145.524 |
347.427 |
744.000 |
|
Total Current Liabilities (4) |
20620.854 |
13354.877 |
13298.826 |
|
|
|
|
|
|
TOTAL |
33187.714 |
25097.956 |
20931.731 |
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9147.018 |
6709.867 |
4660.793 |
|
(ii) Intangible Assets |
68.507 |
85.047 |
37.450 |
|
(iii) Capital work-in-progress |
0.000 |
5.029 |
1165.920 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
52.314 |
|
(b) Non-current Investments |
47.561 |
51.370 |
33.102 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
713.711 |
1040.763 |
1133.103 |
|
(e) Other Non-current assets |
379.352 |
258.832 |
204.198 |
|
Total Non-Current Assets |
10356.149 |
8150.908 |
7286.880 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
20.000 |
|
(b) Inventories |
6792.348 |
6408.262 |
4575.758 |
|
(c) Trade receivables |
6474.291 |
2573.810 |
2718.279 |
|
(d) Cash and cash equivalents |
1088.749 |
967.408 |
1265.695 |
|
(e) Short-term loans and advances |
7895.517 |
6346.561 |
4303.882 |
|
(f) Other current assets |
580.660 |
651.007 |
761.237 |
|
Total Current Assets |
22831.565 |
16947.048 |
13644.851 |
|
|
|
|
|
|
TOTAL |
33187.714 |
25097.956 |
20931.731 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
15511.971 |
16496.398 |
15034.353 |
|
|
Other Income |
177.234 |
115.254 |
185.169 |
|
|
TOTAL
(A) |
15689.205 |
16611.652 |
15219.522 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4697.480 |
7337.854 |
6232.582 |
|
|
Purchases
of stock in trade |
1443.339 |
0.000 |
0.000 |
|
|
Manufacturing, construction and operating expenses |
4099.238 |
5349.814 |
5283.503 |
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
90.847 |
(1840.251) |
(1125.263) |
|
|
Employees benefits expense |
874.784 |
1132.447 |
904.096 |
|
|
Other expenses |
1941.061 |
1871.150 |
1652.753 |
|
|
TOTAL (B) |
13146.749 |
13851.014 |
12947.671 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION
(C) |
2542.456 |
2760.638 |
2271.851 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1535.843 |
1161.424 |
971.904 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1006.613 |
1599.214 |
1299.947 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
418.038 |
291.223 |
188.453 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
588.575 |
1307.991 |
1111.494 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
223.371 |
356.324 |
279.094 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H) (I) |
365.204 |
951.667 |
832.400 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
3479.608 |
2694.179 |
2015.566 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
36.600 |
95.300 |
83.300 |
|
|
Proposed Dividend on
Equity Shares |
20.211 |
60.633 |
59.655 |
|
|
Proposed Dividend on
CCPPS |
0.000 |
0.000 |
0.978 |
|
|
Annual Fixed Dividend |
0.000 |
0.000 |
0.015 |
|
|
Corporate Dividend Tax |
3.435 |
10.305 |
9.839 |
|
|
Total |
60.246 |
166.238 |
153.787 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
3784.566 |
3479.608 |
2694.179 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Consultancy Fees |
34.165 |
19.428 |
8.669 |
|
|
Overseas Contract Revenue
|
9.227 |
1650.867 |
2090.933 |
|
|
TOTAL EARNINGS |
43.392 |
1670.295 |
2099.602 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Consumables Stores |
0.000 |
0.000 |
28.600 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
28.600 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
3.61 |
9.44 |
8.36 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.35 |
5.77 |
5.54 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
16.39 |
16.73 |
15.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.78 |
5.22 |
5.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.20 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.28 |
1.57 |
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.27 |
1.03 |
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 |
348.850 |
202.111 |
202.111 |
|
Reserves & Surplus |
5247.778 |
6275.246 |
6616.805 |
|
Net
worth |
5596.628 |
6477.357 |
6818.916 |
|
|
|
|
|
|
long-term borrowings |
1795.609 |
4930.615 |
5316.057 |
|
Short term borrowings |
4606.161 |
5242.680 |
3388.609 |
|
Total
borrowings |
6401.770 |
10173.295 |
8704.666 |
|
Debt/Equity
ratio |
1.144 |
1.571 |
1.277 |
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 |
15034.353 |
16496.398 |
15511.971 |
|
|
|
9.725 |
-5.968 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Income |
15034.353 |
16496.398 |
15511.971 |
|
Profit |
832.400 |
951.667 |
365.204 |
|
|
5.54% |
5.77% |
2.35% |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
|
LITIGATION DETAILS |
||||||||
|
Bench:- Bombay |
||||||||
|
Presentation Date:- 28/05/2013 |
||||||||
|
Lodging No. : |
ITXAL/756/2013 |
Failing Date:- |
28/05/2013 |
Reg. No.:- |
ITXA/1646/2013 |
Reg Date :- |
29/08/2013 |
|
|
|
||||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX CENTRAL |
Respondent:- |
PRATIBHA INDUSTRIES
LIMITED |
|||||
|
Petn. Adv:- |
PADMA DIVAKAR (0) |
|
|
|||||
|
District:- |
MUMBAI |
|||||||
|
Bench:- |
SINGLE |
Category:- |
TAX APPEALS |
|||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR DIRECTION [ORIGINAL SIDE MATTERS] |
|||||
|
Last Date:- |
24.03.2014 |
|
||||||
|
Last Coram:- |
|
|||||||
|
Act. : |
Income Tax Act,1961 |
Under Section :- |
260A |
|||||
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10534746 |
20/10/2014 |
1,300,000,000.00 |
YES BANK LIMITED |
IFC, Tower 2, 23rd Floor, Senapti Bapat Marg,, El |
C35878529 |
|
2 |
10522642 |
06/09/2014 |
7,600,000,000.00 |
BANK OF BARODA |
CHEMBUR, MUMBAI, Maharashtra - 400071, INDIA |
C23230477 |
|
3 |
10514428 |
22/07/2014 |
1,000,000,000.00 |
Bank Of Maharashtra |
Industrial Finance Branch, Apeejay House,, Dr. V. |
C16104044 |
|
4 |
10506423 |
24/06/2014 |
2,156,800,000.00 |
UNION BANK OF INDIA LIMITED |
INDUSTRIAL FINANCE BRANCH, UNION BANK BHAVAN,, 23 |
C09558768 |
|
5 |
10508225 |
18/06/2014 |
200,000,000.00 |
BHARATIYA MAHILA BANK |
GR. FLOOR, AIR INDIA BLDG,, NARIMAN POINT, MUMBAI |
C10687044 |
|
6 |
10486447 |
26/03/2014 |
700,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDERLOK BUILDING, 36, JANPATH, NEW DELHI, Delhi
- 110001, INDIA |
C01016625 |
|
7 |
10479493 |
11/02/2014 |
200,000,000.00 |
State Bank of Travancore |
Corporate Finance Branch, 112-115 Tulsiani Chambers Free Press Journal
Marg, Mumbai, Maharashtra - |
B97160121 |
|
8 |
10470862 |
24/12/2013 |
1,950,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, Allahabad Bank Building,2nd Floor, 37,
Mumbai Samachar Marg, Fort, MUMB |
B93771400 |
|
9 |
10448842 |
19/11/2013 * |
600,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MUMBAI, Maharashtra -
400005, INDIA |
B90609363 |
|
10 |
10455706 |
31/08/2013 |
52,500,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne,
Navi Mumbai, Maharashtra - 4007 10, INDIA |
B87775201 |
* Date of charge modification
UNSECURED LOAN
|
Unsecured Loan |
As
on 31.03.2014 (Rs.
in Millions) |
As
on 31.03.2013 (Rs. in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fixed
Deposit from Public |
306.550 |
204.364 |
|
SHORT TERM
BORROWINGS |
|
|
|
Fixed
Deposit from Public |
111.690 |
55.495 |
|
Total
|
418.240 |
259.859 |
COMPANY OVERVIEW:
The
Company, is one of
the fastest growing Infrastructure Company in India. The Company undertakes
infrastructure projects, which includes designing, engineering and
execution/construction of complex and integrated water transmission and
distribution projects, water treatment plants, elevated and underground
reservoirs, mass housing projects, commercial complexes, pre-cast design and
construction, road construction and urban infrastructure.
UNAUDITED
FINANCIAL RESULTS FOR THE 1ST QUARTER ENDED 30TH
SEPTEMBER, 2014
(STANDALONE
RESULTS)
|
S.NO. |
PARTICULAR |
Quarter Ended |
|
|
30.09.2014 |
30.06.2014 |
||
|
Unaudited |
Unaudited |
||
|
1 |
Income From
Operations |
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
5193.086 |
5001.774 |
|
|
b. Other Operating Income |
314.617 |
307.310 |
|
|
Total Income from
Operations (Net) |
5507.703 |
5309.084 |
|
2 |
Expenditure |
|
|
|
|
a. Cost of material Consumed |
4433.373 |
2617.267 |
|
|
b. Purchase of Stock-in trade |
0.000 |
291.253 |
|
|
c. Manufacturing construction and operating expenses |
673.320 |
780.694 |
|
|
d. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
(1106.267) |
275.589 |
|
|
e. Employees Benefit Expenses |
199.758 |
202.311 |
|
|
f. Depreciation and Amortisation Expenses |
125.253 |
122.357 |
|
|
g. purchase of traded goods |
-- |
-- |
|
|
h. Other expenses |
523.987 |
433.626 |
|
|
Total Expenses |
4849.424 |
4723.098 |
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
658.279 |
585.986 |
|
4 |
Other Income |
36.420 |
38.023 |
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
694.699 |
624.009 |
|
6 |
Finance Costs |
467.981 |
450.123 |
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
226.718 |
173.886 |
|
8 |
Exceptional items |
-- |
-- |
|
9 |
Profit from
ordinary activities before tax |
226.718 |
173.886 |
|
10 |
Tax Expense |
70.034 |
61.393 |
|
11 |
Net Profit from
ordinary activity after tax |
156.684 |
112.493 |
|
12 |
Extraordinary Items |
-- |
-- |
|
13 |
Net Profit After
Tax |
156.684 |
112.493 |
|
14 |
Paid-up equity share capital (face value of Rs.10 per share) |
202.111 |
202.111 |
|
15 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
|
|
|
16 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
Basic EPS |
1.55 |
1.11 |
|
|
Diluted EPS |
1.55 |
1.11 |
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
17 |
Public Shareholding |
|
|
|
|
- No. of shares |
53607880 |
53607880 |
|
|
- Percentage of shareholding |
53.05 |
53.05 |
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
- No. of shares |
Nil |
Nil |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
Nil |
Nil |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
Nil |
Nil |
|
|
b) Non-encumbered |
|
|
|
|
- No. of shares |
47447512 |
47447512 |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
46.95% |
46.95% |
|
B |
Investor Complaints |
Pending
at the beginning of the quarter |
Received
during the quarter |
Disposed
of during the quarter |
Remaining
unresolved at the end of the quarter |
|
|
|
NIL |
1 |
1 |
NIL |
|
SOURCES OF FUNDS |
As on 30.09.2014 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
(1)Shareholders'
Funds |
|
|
(a)
Share Capital |
202.111 |
|
(b) Reserves & Surplus |
6885.982 |
|
|
|
|
(2)
Minority Interest |
0.000 |
|
|
7088.093 |
|
(3) Non-Current
Liabilities |
|
|
(a) long-term borrowings |
6524.796 |
|
(b) Deferred tax liabilities (Net) |
483.194 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term
provisions |
0.000 |
|
|
7007.990 |
|
(4) Current Liabilities |
|
|
(a) Short term
borrowings |
3839.749 |
|
(b) Trade payables |
4861.788 |
|
(c) Other current
liabilities |
13148.448 |
|
(d) Short-term
provisions |
225.673 |
|
|
22075.658 |
|
|
|
|
TOTAL |
36171.741 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
9225.597 |
|
(b)Goodwill on
Consolidation |
0.000 |
|
(c) Non-current Investments |
50.328 |
|
(d) Deferred tax assets (net) |
0.000 |
|
(e) Long-term Loan and Advances |
1058.620 |
|
(f) Other
Non-current assets |
297.273 |
|
|
10631.818 |
|
(2) Current assets |
|
|
(a) Current investments |
0.000 |
|
(b) Inventories |
7659.922 |
|
(c) Trade receivables |
7578.627 |
|
(d) Cash and cash
equivalents |
1394.337 |
|
(e) Short-term loans
and advances |
8359.144 |
|
(f) Other current
assets |
547.893 |
|
|
25539.923 |
|
|
|
|
TOTAL |
36171.741 |
FIXED ASSETS:
· Office Premises
· Plant and Machinery
· Furniture and Fixture
· Electrical Installation
· Office Equipment
· Vehicles
· Computer Software
· Factory Building
· Land
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.63.41 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.79.00 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.