1. Summary Information
|
|
|
Country |
India |
|
Company Name |
MAHINDRA
INTERTRADE LIMITED |
Principal Name 1 |
Mr. Bharat Doshi |
|
Status |
Good |
Principal Name 2 |
Mr. Pravin Nagindas Shah |
|
|
|
Registration # |
11-020222 |
|
Street Address |
Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra |
||
|
Established Date |
20.03.1978 |
SIC Code |
-- |
|
Telephone# |
91-22-24935203/ 24935185/ 86 |
Business Style 1 |
Traders |
|
Fax # |
91-22-24951236/ 1872 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Engines |
|
|
# of employees |
NA |
Product Name 2 |
Steel Raw Materials |
|
Paid up capital |
Rs.
166,000,000/- |
Product Name 3 |
Garments |
|
Shareholders |
Body corporate 100% |
Banking |
State
Bank Of India |
|
Public Limited Corp. |
NO |
Business Period |
36 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A (63) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
India |
Mahindra and
Mahindra Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,619,400,000 |
Current Liabilities |
2,212,400,000 |
|
Inventories |
1,637,200,000 |
Long-term Liabilities |
1,800,000 |
|
Fixed Assets |
537,300,000 |
Other Liabilities |
295,200,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,509,400,000 |
|
Invest& other Assets |
716,100,000 |
Retained Earnings |
2,834,600,000 |
|
|
|
Net Worth |
3,000,600,000 |
|
Total Assets |
5,510,000,000 |
Total Liab. & Equity |
5,510,000,000 |
|
Total Assets (Previous Year) |
4,916,500,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
13,045,200,000 |
Net Profit |
567,000,000 |
|
Sales(Previous yr) |
13,428,300,000 |
Net Profit(Prev.yr) |
705,400,00 |
MIRA
INFORM REPORT
|
Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA INTERTRADE LIMITED |
|
|
|
|
Formerly Known
As : |
MAHINDRA EXPORTS LIMITED |
|
|
|
|
Registered
Office : |
Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.03.1978 |
|
|
|
|
Com. Reg. No.: |
11-020222 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.166.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1978PLC020222 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20515F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4745P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Traders of Engines, Leather Goods, Steel Raw
Materials, Steel, Special Steels, Spare Parts, Garments, Pump Sets, Sheet
Metal Components, Manhole Covers, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 12002000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Clear |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of Mahindra group, a well-known and highly
respectable industrial house. It an established company having fine track record. There appears some dip in the turnover and profitability of the
company during current year however, net worth of the company appears sound. Trade relations are reported as fair. Business is active. Payments are
reported to regular and as per commitment. The company can be considered good 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that accounts
for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is
the main reason for this overall IT cut. A Reserve Bank of India committee has
recommended setting up a special category of lenders who would cater to small
businesses and households, to expand the number of customers with access to
banking services. These banks would focus onproviding payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based facilities AA |
|
Rating Explanation |
High degree of safety. It carry very low
credit risk. |
|
Date |
December 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non – fund based facilities A1+ |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
December 2012 |
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
31-03-2012.
LOCATIONS
|
Registered / Head Office : |
Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra,
India |
|
Tel. No.: |
91-22-24935203/ 24935185/ 86 |
|
Fax No.: |
91-22-24951236/ 1872 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Offices : |
Located At: ² Delhi ² Chennai |
|
|
|
|
Factory : |
Located At: ² Nashik ² Vadodara ² Pune (Plant I and II) ² Bhopal ² Sharjah, UAE |
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
As on 26.07.2013
|
Name : |
Mr. Bharat Doshi |
|
Designation : |
Director |
|
Address : |
8, St. Helen’s Court, Dr.
Gopalrao Deshmukh Marg, Mumbai – 400026 |
|
Date of Birth/Age : |
12.06.1949 |
|
Qualification : |
B. Com., LLM, FCA, FCS,
PMD (Harvard) |
|
Date of Appointment : |
28.08.1992 |
|
DIN No.: |
00012541 |
|
|
|
|
Name : |
Mr. Pravin Nagindas Shah |
|
Designation : |
Director |
|
Address : |
41-42, Sailesh, Plot
No.94-A, Linking Road, TPS II, Santacruz (West), Mumbai – 400 054,
Maharashtra, India |
|
Date of Birth/Age : |
14.05.1954 |
|
Qualification : |
B. Com, C. A. |
|
Date of Appointment : |
24.07.2007 |
|
DIN No.: |
00056173 |
|
|
|
|
Name : |
Mr. Harsh Kumar |
|
Designation : |
Managing Director |
|
Address : |
201, Ferndale, 12th
Road, Khar West, Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
21.08.1954 |
|
Qualification : |
B. Tech (Mech), PGDBM
(Marketing / Finance) XLRI |
|
Date of Appointment : |
11.12.2011 |
|
DIN No.: |
00082621 |
|
|
|
|
Name : |
Mr. Raghunath Murti |
|
Designation : |
Executive Vice Chairman |
|
Address : |
F – 53, 5th
Floor, Venus Apartments, Twin Star Venus Co-operative Housing Society, 87, Cuffe
Parade, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1948 |
|
Qualification : |
B. Com., Diploma
Marketing Management |
|
Date of Appointment : |
29.04.2009 |
|
DIN No.: |
00082761 |
|
|
|
|
Name : |
Mr. Rajeev Dubey |
|
Designation : |
Director |
|
Address : |
1701, Mahindra Heights,
Tardeo Road, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1954 |
|
Qualification : |
B.A., M.A., MBA (Yale) |
|
Date of Appointment : |
25.02.2004 |
|
DIN No.: |
00104817 |
|
|
|
|
Name : |
Mr. Zhooben Bhiwandiwala |
|
Designation : |
Director |
|
Address : |
S – 13, Cusrow Baug,
Shahid Bhagat, Singh Road, Mumbai – 400039, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1959 |
|
Qualification : |
B. Com., C. A. |
|
Date of Appointment : |
17.02.2000 |
|
DIN No.: |
00110373 |
|
|
|
|
Name : |
Mr. Parag Shah |
|
Designation : |
Director |
|
Address : |
7, Kailas, 50, Peddar
Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1975 |
|
Qualification : |
BS (Computer
Engineering), PMD (Harvard) |
|
Date of Appointment : |
22.07.2010 |
|
DIN No.: |
00374944 |
|
|
|
|
Name : |
Mr. Sudhir Gunvantray Mankad |
|
Designation : |
Additional director |
|
Address : |
PIot No.192, Sector-8-C, Gandhinagar - 382007, Gujarat, India |
|
Date of Birth/Age : |
05.08.1947 |
|
Date of Appointment : |
31.07.2012 |
|
DIN No.: |
00086077 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.07.2013
|
Names of Shareholders |
No. of Shares |
|
Mahindra and Mahindra
Limited, India |
27100000 |
|
Mahindra and Mahindra
Limited Jt. with Mr. Zhooben Bhiwandiwala |
1 |
|
Mahindra and Mahindra Limited
Jt. with Mr. Bharat Doshi |
1 |
|
Mahindra and Mahindra
Limited Jt. with Mr. P. N. Shah |
1 |
|
Mahindra and Mahindra
Limited Jt. with Mr. Harsh Kumar |
1 |
|
Mahindra and Mahindra
Limited Jt. With Mr. Jyoti Walunj |
1 |
|
Mahindra Holdings
Limited, India |
1 |
|
Mahindra and Mahindra
Limited Jt. With Mr. Narayan Shankar |
1 |
|
Total |
27100007 |
Note: *out of these shares 15000000 equity shares
are partly paid up @ Rs. 3/- per share
As on 26.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders of Engines, Leather Goods, Steel Raw Materials,
Steel, Special Steels, Spare Parts, Garments, Pump Sets, Sheet Metal
Components, Manhole Covers, etc. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· State Bank Of India Limited, Corporate Accounts Group (Central) Madam Cama Road, Nariman Point, Mumbai - 400021, Maharashtra, India · State Bank Of India, Corporate Accounts Group, Neville House, J. N. Heredia Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins And Sells Chartered Accountant |
|
Address : |
12, Annie Besant Road, Opposite Shiv Sagar Estate, Worli,
Mumbai-400018, Maharashtra, India |
|
PAN.: |
AABFD7919A |
|
|
|
|
Holding Company : |
Mahindra and Mahindra
Limited, India CIN No.: L65990MH1945PLC004558 |
|
|
|
|
Subsidiaries Company / Subsidiary Companies and Joint Ventures : |
·
Mahindra Middle East Electrical Steel Service
Centre FZC ·
Mahindra Steel Service Centre Limited (w.e.f. 11th
November, 2009) CIN No.: U27100MH1993PLC070416 ·
Mahindra Electrical Steel Limited (w.e.f.10th
June,2009 ) CIN No.: U27100MH2009PLC193205 |
|
|
|
|
Fellow Subsidiaries : |
CIN No.: U64200MH1994PLC083996
CIN No.: U30007MH1991PLC064368
CIN No.: L55101TN1996PLC036595
CIN No.: U63040MH1994PLC079098
CIN No.: L65921MH1991PLC059642
CIN No.: U34100MH2005PTC153702
CIN No.: L99999MH1962PLC012542
CIN No.: U63000MH2007PLC173466
CIN No.: U52190MH2007PTC173762
CIN No.: U34100MH2007PLC171151
CIN No.: U35911MH2008PLC185462
CIN No.: U31200MH1954PLC019908
CIN No.: L64200MH1986PLC041370
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28000000 |
Equity Shares |
Rs.10/- each |
Rs.280.000 Millions |
|
1875000 |
Preference Shares |
Rs.100/- each |
Rs.187.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.467.500
Millions |
Issued & Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27100007 |
Equity Shares |
Rs.10/- each |
Rs. 271.000 Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12100007 |
Equity Shares |
Rs.10/- each |
Rs.121.000 Millions |
|
15000000 |
Equity Shares |
Rs.3/- each |
Rs.45.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.166.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
166.000 |
166.000 |
|
(b) Reserves & Surplus |
|
2834.600 |
2442.300 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
3000.600 |
2608.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
50.500 |
45.500 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
18.800 |
13.800 |
|
Total Non-current Liabilities (3) |
|
69.300 |
59.300 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1.800 |
0.600 |
|
(b) Trade payables |
|
2027.700 |
1720.600 |
|
(c) Other current
liabilities |
|
184.700 |
276.500 |
|
(d) Short-term provisions |
|
225.900 |
251.200 |
|
Total Current Liabilities (4) |
|
2440.100 |
2248.900 |
|
|
|
|
|
|
TOTAL |
|
5510.000 |
4916.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
537.300 |
565.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
356.000 |
356.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
305.800 |
134.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1199.100 |
1055.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
360.100 |
251.300 |
|
(b) Inventories |
|
1637.200 |
1361.500 |
|
(c) Trade receivables |
|
1612.900 |
1594.600 |
|
(d) Cash and cash
equivalents |
|
473.100 |
259.500 |
|
(e) Short-term loans and
advances |
|
223.500 |
371.100 |
|
(f) Other current assets |
|
4.100 |
23.500 |
|
Total Current Assets |
|
4310.900 |
3861.500 |
|
|
|
|
|
|
TOTAL |
|
5510.000 |
4916.500 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
166.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1939.409 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2105.409 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.275 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.275 |
|
|
DEFERRED TAX LIABILITIES |
|
|
42.428 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2148.112 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
609.814 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
507.566 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1499.650
|
|
|
Sundry Debtors |
|
|
1381.186
|
|
|
Cash & Bank Balances |
|
|
44.970
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
355.021
|
|
Total
Current Assets |
|
|
3280.827
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2003.948
|
|
|
Other Current Liabilities |
|
|
65.924
|
|
|
Provisions |
|
|
180.223
|
|
Total
Current Liabilities |
|
|
2250.095
|
|
|
Net Current Assets |
|
|
1030.732
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2148.112 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
12968.700 |
13356.000 |
10788.184 |
|
|
|
|
Income from Services Rendered |
0.000 |
0.000 |
49.012 |
|
|
|
|
Commission |
0.000 |
0.000 |
90.251 |
|
|
|
|
Other Income |
76.500 |
72.300 |
90.054 |
|
|
|
|
TOTAL (A) |
13045.200 |
13428.300 |
11017.501 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Consumption Material Changes Inventories |
0.000 |
0.000 |
9832.639 |
|
|
|
|
Cost of materials consumed |
10862.700 |
10716.300 |
0.00 |
|
|
|
|
Manufacturing Service Costs |
0.000 |
0.000 |
95.719 |
|
|
|
|
Purchases of stock-in-trade |
861.100 |
1111.300 |
0.000 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(48.300) |
58.300 |
0.000 |
|
|
|
|
Employees Related Expenses |
146.400 |
86.700 |
72.580 |
|
|
|
|
Other Expenses |
295.000 |
313.600 |
125.966 |
|
|
|
|
TOTAL (B) |
12116.900 |
12286.200 |
10126.904 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
928.300 |
1142.100 |
890.597 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
37.400 |
32.900 |
24.501 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
890.900 |
1109.200 |
866.096 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
60.900 |
60.900 |
61.154 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
830.000 |
1048.300 |
804.942 |
||
|
|
|
|
|
|
||
|
Less |
TAX (I) |
263.000 |
342.900 |
248.680 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-I) (J) |
567.000 |
705.400 |
556.262 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1919.500 |
1487.200 |
1136.200 |
||
|
|
|
|
|
|
||
|
|
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
56.700 |
705.000 |
551.000 |
|
|
|
|
Proposed dividend on equity shares |
149.400 |
174.300 |
124.500 |
|
|
|
|
Income-tax on proposed dividend |
25.400 |
28.300 |
20.200 |
|
|
|
BALANCE CARRIED
TO THE B/S |
2255.000 |
1919.500 |
1487.200 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
|
|
5.538 |
|
|
|
|
Commission Earnings |
|
|
89.745 |
|
|
|
|
Dividend |
|
|
24.475 |
|
|
|
|
Other Earnings |
|
|
7.465 |
|
|
|
TOTAL EARNINGS |
126.300 |
157.100 |
127.223 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
|
10716.300 |
3218.178 |
|
|
|
|
Finished Goods resale |
|
0.000 |
1.315 |
|
|
|
TOTAL IMPORTS |
NA |
10716.300 |
3219.493 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
34.16 |
42.49 |
33.18 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.35
|
5.25 |
5.05
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.40
|
7.85 |
7.36
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.10
|
22.98 |
20.69
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.40 |
0.38
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77
|
1.72 |
1.46
|
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 |
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] |
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date :- 24.09.2013 |
|
Lodging No: ITXAL/1559/2013 Filing Date:
24.09.2013 Reg. No.: ITXA/2252/2013 Reg. Date: 09.12.2013 |
|
Petitioner: COMMISSIONER OF INCOME TAX – 2
Respondent: MAHINDRA INTERTRADE LIMITED Petn. Adv : SURESH KUMAR () District: MUMBAI |
|
Bench: DIVISION Status: Pre-Admission
Category: TAX APPEALS Last Date: 14.02.2014 Stage: Last Coram: ACCORDING TO SITTING LIST ACCORDING TO SITTING
LIST |
|
Act: Income Tax Act, 1961 UNDER SECTION: 260A |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Other loans and advances |
1.800 |
0.600 |
|
|
|
|
|
Total |
1.800 |
0.600 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10003008 |
22/02/2011 * |
150,000,000.00 |
Axis Bank Limited |
CREDIT MANAGEMENT CENTRE,UNIT NO.6, CORPORATE PARK,SION TROMBAY
ROAD,CHEMBUR, MUMBAI, Maharashtra - 400071, INDIA |
B07750946 |
|
2 |
80059422 |
28/02/2006 |
210,000,000.00 |
DBS Bank Ltd. |
3rd Floor, Fort House, 221, Dr. D.N. Road, Fort, Mumbai, Maharashtra -
400001, INDIA |
- |
|
3 |
80058759 |
20/02/2006 |
550,000,000.00 |
HDFC Bank Ltd. |
Sandoz House, Dr. A.B. Road, Worli, Mumbai, Maharashtra - 400018,
INDIA |
- |
|
4 |
80054061 |
27/08/2004 |
450,000,000.00 |
IDBI BANK LIMITED |
224-A MITTAL COURT, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA
|
- |
|
5 |
80059423 |
06/10/2000 |
200,000,000.00 |
The Bank of Nova Scotia |
Mittal Towers, B-Wing, Nariman Point, Mumbai, Maharashtra - 400021,
INDIA |
- |
|
6 |
80020214 |
01/12/2011 * |
1,375,000,000.00 |
STATE BANK OF INDIA |
Corporate Accounts Group, Neville House, J. N. Heredia Marg, Ballard
Estate, MUMBAI, Maharashtra - 400001, INDIA |
B28286375 |
* Date of charge modification
FINANCIAL
The
Company’s income for the year was Rs 13045.200 millions as compared to Rs
13428.300 millions in the previous year, a drop of 2.85%, mainly on account of
decrease in steel prices. Profit before tax for the year is Rs 830.000 millions
as compared to Rs 1048.300 millions in the previous year, a
decrease of 20.82% primarily on account of lower margins.
OPERATIONS
The
Company’s Nashik plant achieved its best-ever through put at 107,347t (97,977t
in the previous year). Transformer industry continued to suffer from sluggish
demand throughout the year resulting in demand and margins being under
pressure.
AWARDS
The Company has been the recipient of the
following awards during the year:
Ø
India’s Best Companies to
Work For 2013 - Top 100 (51 - 100) by the Great Places to Work Institute
Ø India‘s Best
Companies For Rewards and Recognition 2013 - Top 15 by the Great Places to Work
Institute
Ø 5th
Best Employer of the year from Employer Branding Institute - India
Ø Innovation in
Employee Retention Strategies from Employer Branding Institute - India
Ø Organization with
Innovative HR Practices at the Talent & HR Leadership Awards
Ø Portfolio Company
of the Year at the Mahindra Partners' Senior Leadership Conclave
Ø Best New Product
Development Award at the Tecumseh Supply Chain Summit
Ø
Employee Social Options (ESOPs) Star Performer
Award - Bhopal Plant - at Mahindra Rise Awards
FIXED ASSETS
²
Freehold Land
²
Leasehold Land
²
Buildings
²
Office Equipments
²
Computers
²
Plant and Machinery
²
Furniture and Fittings
²
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
7 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.