MIRA INFORM REPORT
|
Report Date : |
25.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
AHMEDNAGAR FORGINGS LIMITED |
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|
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Registered
Office : |
Gate No. 614,
Village Kurulikhed, Pune - 410501, |
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Country : |
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Financials (as
on) : |
30.06.2012 |
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Date of
Incorporation : |
21.03.1977 |
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Com. Reg. No.: |
11-019569 |
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Capital
Investment / Paid-up Capital : |
Rs.367.500 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
L28910MH1977PLC019569 |
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|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA05185F |
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PAN No.: [Permanent Account No.] |
AACCA3454H |
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Legal Form : |
A Public Limited
Liability Company. The Company’s Shares
are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacture and Distribution of High-Precision Closed Die Steel
Forgings and Auto Components for the Automotive, Defence and Railway
Industries. |
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|
|
|
No. of Employees
: |
Information denied by the management |
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 29530000 |
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Status : |
Regular |
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Payment Behaviour : |
Good |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. Management of the company has failed to file its financial for the
year 2013 with the government department. As per previous year financial i.e. 2012, financial position of the
company appears to be sound. Performance capacity of the company seems to be
good. Trade relations are reported as fair. Business is active. Payments are
reported to be 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated number
of jobs created during the second quarter of the current financial year. 50000
estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
16.04.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities = A1+ |
|
Rating Explanation |
Strong degree of safety and carry lowest
credit risk |
|
Date |
16.04.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-20-66031188)
LOCATIONS
|
Registered Office : |
Gate No. 614,
Village Kurulikhed, Pune - 410501, Maharashtra, India |
|
Tel. No.: |
91-20-66031188 |
|
Fax No.: |
Not Available |
|
E-Mail : |
aflimited@yahoo.com |
|
Website : |
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Head Office : |
Office No.604, 6th Floor, The Great Eastern Plaza, Opposite
Gunjan Theatre, Airport Road, Yerawada, Pune-411006, Maharashtra, India |
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|
Works : |
Located At : · D 95, MIDC Area, Manmad Road, P.O. Box-2, Ahmednagar - 414111, Maharashtra, India · Chakan, District Pune, Maharashtra, India · Kuruli, District Pune, Maharashtra, India · Nalagarh, District Solan, Himachal Pradesh, India |
DIRECTORS
As on 30.06.2012
|
Name : |
Mr. Arvind Dham |
|
Designation : |
Chairman |
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|
Name : |
Mr. S. Rajagopalan |
|
Designation : |
Whole Time Director |
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Name : |
Mr. D. S. Malik |
|
Designation : |
Director |
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|
Name : |
Mr. S. E. Krishnan |
|
Designation : |
Director |
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|
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|
Name : |
Mr. B. Lugani |
|
Designation : |
Director |
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|
Name : |
Mr. Gautam Malhotra |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Vivek Kumar Agarwal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Swati Ahuja |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. P T Garwadkar |
|
Designation : |
Accounts Manager |
SHAREHOLDING PATTERN
As on 31.12.2013
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
23804492 |
64.77 |
|
|
23804492 |
64.77 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
23804492 |
64.77 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
3134217 |
8.53 |
|
|
208066 |
0.57 |
|
|
3526974 |
9.60 |
|
|
600 |
0.00 |
|
|
600 |
0.00 |
|
|
6869857 |
18.69 |
|
|
|
|
|
|
2047569 |
5.57 |
|
|
|
|
|
|
2680762 |
7.29 |
|
|
1006641 |
2.74 |
|
|
340679 |
0.93 |
|
|
19593 |
0.05 |
|
|
62483 |
0.17 |
|
|
257853 |
0.70 |
|
|
750 |
0.00 |
|
|
6075651 |
16.53 |
|
Total Public shareholding (B) |
12945508 |
35.23 |
|
Total (A)+(B) |
36750000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
36750000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Distribution of High-Precision Closed Die Steel
Forgings and Auto Components for the Automotive, Defence and Railway
Industries. |
||||
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||||
|
Products : |
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PRODUCTION STATUS (As on 30.06.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Steel Forgings |
MT |
225000 |
225000 |
112162 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
·
Hero Honda ·
TATA ·
Toyota ·
Yamaha ·
TVS ·
Ashok Leyland ·
Swaraj Mazda ·
Diesel Locomotive Works ·
Diesel Loco Modernisation Works ·
Timken ·
Volvo |
|||||||||||||||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
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Bankers : |
· Andhra Bank · Karur Vysya Bank Limited · IDBI Bank Limited |
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Facilities : |
Notes Long Term Borrowings Term debts from
Financial Institutions/Banks are secured by way of first mortgage of
company’s all immovable properties ranking pari passu interest and
hypothecation of whole of the company’s movable properties including plant
and machinery, machinery spares, tools and accessories save and book debts)
present and future, subject to prior charges created/to be created in favour
of the company’s bankers on inventories, book debts and other specified
movables for securing the borrowing for working capital requirements and
loans under EFS/HP/Lease schemes if any securing the borrowing for working
capital requirements and loans under EFS/HP/Lease schemes if any are secured
by way of charge on the specified assets financed under the scheme. Maturity Profile of Secured Term Loans classified as Long Term
Borrowings is set out below:
Short Term Borrowings Short Term Borrowings are secured by hypothecation of raw material,
semi-finished goods, stock in process, consumable stores and book debts of
the company |
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Manoj Mohan and Associates Chartered Accountants |
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|
|
|
Holding Company : |
·
Amtek Auto Limited |
|
|
|
|
Joint Venture of Holding Company : |
·
Amtek Tekfor Automotive Limited ·
MPT Amtek Automotive (India) Limited ·
SMI Amtek Crankshafts Private Limited |
CAPITAL STRUCTURE
As on 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36750000 |
Equity Shares |
Rs.10/- each |
Rs.367.500
Millions |
Shares Held By Holding Company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
|
|
|
|
Amtek Auto Limited |
20196665 |
54.96% |
Reconciliation of
the number of shares
|
Equity Shares |
Number
of Shares |
Rs. In Millions |
|
|
|
|
|
Shares outstanding at the beginning of the year |
36750000 |
367.500 |
Name of shareholders holding more than 5% of equity shares
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Amtek Auto Limited |
20196665 |
54.96% |
|
Warhol Limited |
3456898 |
9.41% |
|
Asia Investment Corporation Mauritius Limited |
2201390 |
5.99% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
30.06.2012 |
30.06.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
367.500 |
367.500 |
|
(b) Reserves & Surplus |
|
7015.586 |
5849.569 |
|
(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) |
|
7383.086 |
6217.069 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4485.422 |
3927.146 |
|
(b) Deferred tax liabilities (Net) |
|
1044.099 |
972.961 |
|
(c) Other long term liabilities |
|
120.295 |
133.627 |
|
(d) long-term provisions |
|
30.219 |
29.220 |
|
Total Non-current Liabilities (3) |
|
5680.035 |
5062.954 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1960.113 |
901.936 |
|
(b) Trade payables |
|
959.667 |
616.180 |
|
(c) Other current
liabilities |
|
1701.475 |
1677.411 |
|
(d) Short-term provisions |
|
99.576 |
87.135 |
|
Total Current Liabilities (4) |
|
4720.831 |
3282.662 |
|
|
|
|
|
|
TOTAL |
|
17783.952 |
14562.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
9679.180 |
9323.787 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
454.289 |
189.656 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
9.285 |
9.285 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
911.784 |
19.368 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
11054.538 |
9542.096 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
2637.129 |
2137.784 |
|
(c) Trade receivables |
|
2826.822 |
2248.247 |
|
(d) Cash and cash
equivalents |
|
743.724 |
468.390 |
|
(e) Short-term loans and
advances |
|
519.210 |
165.299 |
|
(f) Other current assets |
|
2.529 |
0.869 |
|
Total Current Assets |
|
6729.414 |
5020.589 |
|
|
|
|
|
|
TOTAL |
|
17783.952 |
14562.685 |
|
SOURCES OF FUNDS |
|
|
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
367.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
4853.440 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
5220.940 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5369.038 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
5369.038 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10589.978 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8906.715 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
9.285 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1753.598 |
|
|
Sundry Debtors |
|
|
987.296 |
|
|
Cash & Bank Balances |
|
|
470.858 |
|
|
Other Current Assets |
|
|
2.410 |
|
|
Loans & Advances |
|
|
364.472 |
|
Total
Current Assets |
|
|
3578.634 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
581.993 |
|
|
Other Current Liabilities |
|
|
1236.956 |
|
|
Provisions |
|
|
85.707 |
|
Total
Current Liabilities |
|
|
1904.656 |
|
|
Net Current Assets |
|
|
1673.978 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
10589.978 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11825.647 |
9081.584 |
|
|
|
|
Other Income |
358.667 |
290.856 |
|
|
|
|
TOTAL (A) |
12184.314 |
9372.440 |
6653.291 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
7985.070 |
5775.137 |
|
|
|
|
Employee benefit expense |
600.185 |
536.236 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and Stock-in-Trade |
(107.051) |
(61.062) |
|
|
|
|
Other expenses |
731.084 |
647.005 |
|
|
|
|
TOTAL (B) |
9209.288 |
6897.316 |
4890.166 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2975.026 |
2475.124 |
1763.125 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
648.460 |
452.303 |
388.634 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2326.566 |
2022.821 |
1374.491 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
612.951 |
499.507 |
433.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1713.615 |
1523.314 |
941.287 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
504.886 |
441.761 |
300.425 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1208.729 |
1081.553 |
640.862 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
979.558 |
483.429 |
330.415 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1750.000 |
500.000 |
400.000 |
|
|
|
Dividend |
36.750 |
73.500 |
73.500 |
|
|
|
Corporate Dividend Tax |
5.962 |
11.924 |
12.207 |
|
|
|
Dividend and Tax of Previous Year |
0.000 |
0.000 |
2.141 |
|
|
BALANCE CARRIED
TO THE B/S |
395.575 |
979.558 |
483.429 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
85.439 |
65.288 |
12.440 |
|
|
TOTAL EARNINGS |
85.439 |
65.288 |
12.440 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components & Spares Parts |
1.531 |
1.148 |
0.861 |
|
|
TOTAL IMPORTS |
1.531 |
1.148 |
0.861 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
32.89 |
29.43 |
17.76 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.09.2012 (Unaudited) |
31.12.2012 (Unaudited) |
31.03.2013 (Unaudited) |
30.06.2013 (Unaudited) |
30.09.2013 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
5th
Quarter |
|
Net Sales |
3026.800 |
2898.800 |
3301.800 |
3625.200 |
4762.400 |
|
Total Expenditure |
2224.800 |
2136.300 |
2372.200 |
2640.300 |
3682.000 |
|
PBIDT (Excluding Other Income) |
802.000 |
762.500 |
929.600 |
984.900 |
1080.400 |
|
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
802.000 |
762.500 |
929.600 |
984.900 |
1080.400 |
|
Interest |
184.400 |
160.900 |
209.300 |
226.900 |
228.800 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
617.600 |
601.600 |
720.300 |
758.000 |
851.600 |
|
Depreciation |
177.200 |
177.200 |
177.200 |
204.800 |
243.100 |
|
Profit Before Tax |
440.400 |
424.400 |
543.100 |
553.200 |
608.500 |
|
Tax |
132.100 |
127.300 |
162.900 |
166.000 |
248.400 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
308.300 |
297.100 |
380.200 |
387.200 |
360.100 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
308.300 |
297.100 |
380.200 |
387.200 |
360.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.92 |
11.54 |
9.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.49 |
16.77 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.89 |
10.61 |
7.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.25 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.87 |
0.78 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.53 |
1.88 |
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
30.06.2012 Rs. In Millions |
30.06.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
External Commercial Borrowings |
1112.500 |
0.000 |
|
Total |
1112.500 |
0.000 |
Notes:
Maturity Profile of External Commercial Borrowings is set out below:
|
Year Amount |
Rs. In Millions |
|
2013-14 |
278.100 |
|
2014-15 |
278.100 |
|
2015-16 |
278.100 |
|
2016-17 |
278.100 |
Interest Rate of External Commercial Borrowing is LIBOR+3%
BUSINESS SNAPSHOT
Ahmednagar
Forgings is the second largest Forging Company in India with world class
manufacturing facilities. These have significant locational advantages through
their proximity to the automotive manufacturer hubs in the North and West regions
of India. Ahmednagar Forgings has state-of-the-art facilities with presses,
hammers, up setters and ring rolling machines. It has an extensive product
portfolio with a range of highly engineered components including camshafts,
connecting rods, crankshaft, crown wheel pinion and front axle beam. The
Company supplies components for passenger cars, light and heavy commercial
vehicles, 2/3 wheelers and tractors. It also manufactures components for
non-auto industry such as the railways and specialty vehicles. The Company
serves diversified client base. Ahmednagar Forgings is well positioned in the
Indian auto component market. The Company is also backed by number of leading
investors.
FINANCIAL
PERFORMANCE
During the year,
the total income of the Company was Rs.12184.300 Millions compared to the
previous year of Rs.9372.400 Millions, recording an increase of 30% year
on year. The Profit after Tax of the Company for the year was Rs.1208.700
Millions as compared to the previous year of Rs.1081.500 Millions, recording an
increase of 11.76% year on year. The Company has a strong reserve position of
Rs.7015.600 Millions.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY OVERVIEW
INDIAN ECONOMY
The economic
environment in India has deteriorated significantly over the last 12 months. In
response, the Government of India has introduced a series of wide ranging
reforms to facilitate foreign investment, control the fiscal deficit and
improve growth prospects. These have ranged from reducing subsidies on fuel to
the opening up of previously protected sectors such as multi brand retailing
and insurance to foreign direct investment.
However, whilst
these policies are implemented, controlling inflation remains a high priority.
For the year ended March 2013, WPI based inflation is expected to be 7.5%. This
assumes continued near term staple food price inflation and the impact of the
pass-through of market based oil prices into retail fuel prices. The increases
in the indirect and services tax rates in the last budget are likely to add to
the inflationary pressures.
Inflation is also
the key driver for broader fiscal policy. The Reserve Bank of India has been
unable to reduce interest rates meaningfully to stimulate consumption led
growth. Ongoing volatility in the foreign exchange market and the depreciation
of rupee has added additional complexity for policy makers.
As per RBI,
India’s GDP growth is estimated to be 6.5% for the year ended March 2012, lower
than the 8.4% growth in Year Ending (YE) March 2011 and 10% in YE March 2010.
In YE March 2012, Index of Industrial Production (IIP) registered a growth of
2.8% compared to 8.2% in YE March 2011. Except Electricity which grew by 8.2%,
the remaining two sectors – Mining and Manufacturing remained under pressure at
(2.0)% and 2.9% y-o-y, respectively in YE March 2012. Despite a delayed monsoon
season, the agriculture sector is expected to grow by 3.0%.
AUTOMOBILE INDUSTRY
The long term Auto
industry dynamics in India are attractive from both end market and
manufacturing platform perspectives. Consumer demand has been underpinned by
favorable demographic changes, in particular by ongoing urbanization and an
increasing middle class. Disposable incomes have also increased and correspondingly
raised vehicle ownership levels. Over the last 5 years, relatively high GDP
growth and industrial activity increased the demand for commercial vehicles.
Current low levels of agricultural mechanization have resulted in strong
tractor demand. India is expected to be the third largest automotive market by
volumes in 2015 after US and China.
India has also
been acknowledged by many global OEMs as one of the most strategically
important emerging auto markets in the world. It is not only an attractive
destination for OEMs as an end customer market but also an
increasingly
critically important manufacturing base. For example, global majors Ford, GM
and Renault-Nissan have all announced that they will set up their manufacturing
facilities in India. These manufacturing facilities will be used to service
both the domestic and export markets.
AUTO INDUSTRY: OUTLOOK
In addition to an
overall declining GDP growth environment, near term demand pressures have had a
significant impact on the Indian passenger vehicle sector. This has been a
consequence of a number of different factors including increased excise duties
and fuel prices, relatively high interest rates and generally weaker consumer
sentiment. Production volumes are now effectively flat year-on-year at 1.1% for
1Q FY13. This is a significant decline compared to previous two quarters which
grew by +9.0% and +10.2% year-on-year.
Industrial
activity has also experienced sequential contraction and volatility. The
commercial vehicle production has had its second sequential quarter of negative
growth in Q1FY13 of (5.2)% and (3.8)% in the previous quarter. This is in
context of a 22.9% growth in the last year. Although LCV production volumes
have shown marginal growth, MCVs volumes have declined by over 15%. 2/3 Wheeler
volumes have deteriorated rapidly during the last quarter from +7.9% to -3.0%
in Q1 FY13. Despite these current challenges, there are some favorable
dynamics: new product launches to stimulate demand, OEMs have re-balanced
inventory levels, replacement market demand is improving and import costs
reduced with a depreciating rupee.
Looking ahead more
broadly, SIAM expects domestic passenger car sales to grow at 1% to 3% for the
year ending March 2013 and commercial vehicles by 3% to 5% for the same period.
Longer term the Indian auto component industry is expected to reach over US$
110 billion by 2021, growing at a CAGR of 11%. For the year ended March 2013,
the overall industry is expected to grow 5-7%. Tractor production volumes are
expected to reach 710,000 by 2015-16, growing at a CAGR of 2.6%.
AHMEDNAGAR FORGINGS: STRATEGY AND OUTLOOK
Ahmednagar
Forgings is the second largest forging axle beam and crankshaft manufacturing
company in India with world class manufacturing facilities. The Company has
state of the art facilities with presses, hammers, up setters and ring rolling
machines. It has an extensive product portfolio with a range of highly
engineered components including camshafts, connecting rods, crankshaft, crown
wheel pinion and front axle beam.
In the context of
a volatile global economy, auto sector demand continues to be dampened as end
customers adopt a conservative approach to discretionary spending. Given this
ongoing uncertainty, Ahmednagar Forgings is cautious on the near term market
but remains optimally positioned to capitalize on its technology and product
design capabilities. India is an attractive central hub for OEM global exports
and a world class manufacturing base. Continuous investments within India from
major OEMs will significantly enhance mid to long term prospects of the
domestic auto industry. Over the years, they continue to successfully execute
their strategy of expanding the Non-Auto business across the group.
Ahmednagar
Forgings is confident of achieving an overall higher growth than the industry
norm through its focus on new product introductions, addition of significant
new contracts during the past year and continued consolidation in the component
industry. Management is focused on achieving operating excellence by
reinforcing lean manufacturing and quality improvement programs across all
production facilities. This will result in further enhancing utilization levels
and productivity improvements. The Company has a long track record of
successfully partnering with its high profile customer base, which is essential
for managing its business going forward.
SEGMENT WISE PERFORMANCE
The Company deals
in only one segment i.e. Automotive Components. Therefore, it is not required
to give segment wise performance.
DISCUSSION ON FINANCIAL PERFORMANCE
During the year,
the Revenue of the Company was Rs.12184.300 Millions compared to the previous
year of Rs.9372.400 Millions, recording an increase of 30% year on year. The
Gross profit before Interest, Depreciation and Taxation has increased to
Rs.2975.000 Millions as compared to the previous year of Rs.2475.100 Millions.
Profit after Tax
of the Company for the year was Rs.1208.700 Millions as compared to the
previous year of Rs.1081.500 Millions, recording an increase of 11.76% year on
year.
The basic and diluted EPS of the Company for the fiscal year 2011-2012
is Rs.32.89.
For the year 2012,
the Board of Directors has recommended a dividend of Rs.1/- per share i.e 10%
of the face value of Equity Share of Rs.10/- each.
During Financial
Year 2011-2012, all the manufacturing facilities units have been operated in
accordance to management’s satisfaction.
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2013
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
15 Months Ended (Unaudited) |
||
|
|
30.09.2013 |
30.06.2013 |
30.09.2012 |
30.09.2013 |
|
1.
Income from operations |
|
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
4630.700 |
3357.900 |
2663.500 |
16457.800 |
|
b) Other operating income |
131.700 |
267.300 |
235.300 |
1157.200 |
|
Total
income from Operations(net) |
4762.400 |
3625.200 |
2898.800 |
17615.000 |
|
2.Expenditure |
|
|
|
|
|
a) Cost of material consumed |
3296.300 |
2292.100 |
1746.200 |
11189.800 |
|
b) Purchases of stock in trade |
0.000 |
0.000 |
0.000 |
0.000 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(61.900) |
(62.000) |
29.700 |
(74.400) |
|
d) Employees benefit expenses |
206.400 |
208.600 |
176.900 |
957.400 |
|
e) Depreciation and amortization expenses |
243.100 |
204.800 |
177.200 |
979.500 |
|
f) Other expenditure |
241.200 |
201.600 |
183.500 |
982.800 |
|
Total expenses |
3925.100 |
2845.100 |
2313.500 |
14035.100 |
|
3. Profit from operations before other income and
financial costs |
837.300 |
780.100 |
585.300 |
3579.900 |
|
4. Other income |
0.000 |
0.000 |
0.000 |
0.000 |
|
5. Profit from ordinary activities before finance costs |
837.300 |
780.100 |
585.000 |
3579.900 |
|
6. Finance costs |
228.800 |
228.900 |
160.900 |
1010.300 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
608.500 |
553.200 |
424.400 |
2569.600 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
608.500 |
553.200 |
424.400 |
2569.600 |
|
10.Tax expenses |
248.400 |
166.000 |
127.300 |
836.700 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
360.100 |
387.200 |
297.100 |
1732.900 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.0000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
360.100 |
387.200 |
297.100 |
1732.900 |
|
14.Paid-up
equity share capital (Nominal value Re. 1/- per share) |
367.500 |
367.500 |
367.500 |
367.500 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
|
16.i) Earnings per share (before extraordinary
items) of Re. 1/- each) (not annualised): |
|
|
|
|
|
(a) Basic and diluted |
9.80 |
10.54 |
8.08 |
47.15 |
|
ii) Earnings per share (after extraordinary items) |
|
|
|
|
|
(a) Basic and diluted |
9.80 |
10.54 |
8.08 |
47.15 |
|
Particulars |
Quarter Ended ( Unaudited) |
15 Months Ended (Unaudited) |
||
|
|
30.09.2013 |
30.06.2013 |
30.09.2012 |
30.09.2013 |
|
A. Particulars of shareholding |
|
|
|
|
|
1. Public Shareholding |
|
|
|
|
|
- Number of shares |
12945508 |
12945508 |
16553335 |
12945508 |
|
- Percentage of shareholding |
35.23 |
35.23 |
45.04 |
35.23 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
Nil |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
Number of shares |
23804492 |
23804492 |
20196665 |
23804492 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00% |
100.00% |
100.000% |
100.00% |
|
Percentage of shares (as a % of total share capital of the
company) |
64.77% |
64.77% |
54.96% |
64.77% |
|
|
|
|
|
|
|
B.
Investor Complaints |
For the quarter ended |
|||
|
Pending at the beginning of the quarter |
0 |
|||
|
Receiving during the quarter |
2 |
|||
|
Disposed of during the quarter |
2 |
|||
|
Remaining unreserved at the end of the quarter |
0 |
|||
Notes:
1) The above results were reviewed by the Audit Committee
and taken on record by the Board of Directors of the Company at its Meeting
held on Saturday 26th October, 2013. The results for the quarter and
half year ended 30th September, 2013 have been reviewed by the Statutory
Auditors of the Company.
2)
The Company
obtained approval from the shareholders, by way of Postal Ballot process on 21st
June, 2013 and from SEBI on 2nd July, 2013 to buy back the shares of
the Company at a price not exceeding Rs. 90/- per share of upto a maximum of
7500000, fully paid up equity shares of Re. 1/- each Persuent to this the
Company has bought back 6388944 shares upto 30th September, 2013. The
amount utilized for buy back is Rs.504.676 Millions. Out of the said equity
shares bought back, 44,919 equity shares have been extinguished post 30th
September 2013
3) The Company has exposure to National Spot Exchange
Limited (NSEL) of Rs.13.600 Millions with respect to the funded positions. NSEL
has not been able to adheretoits payment obligations over the past few months.
The Group has perused legal action against NSEL and others by filing writ
petition in Bombay High courtand Criminal complaint in Economic Offences Wing
(EOW). Pending final outcome which is uncertain, the Company has provided for
an amount of Rs.4.521 Millions in respect of its funded positions for the
quarter and half year ending 30th September 2013 which is disclosed under the
head “Exceptional items”.
4) CRISIL has re-affirmed the rating of 'CRISILA1+'
(pronounced' CRISIL Aone Plus') to the Short Term Debt Programme of the company
for Rs.1.5billion. ICRA has re-affirmed the rating of “PP-MLD[ICRA]AA-“
(pronounced 'CRISIL double A minus rating with Stable Outlook') to the Long
Term Debt Programme of the company for Rs.250.000 Millions.
5) The Board of
directors at its meeting held on October 26, 2013 has declared an interim
dividend of Re.1/-per equity share (On face value of Re.1/-each equity share)
for the financial year 2013-14.
6) The Company is engaged in single segment of financing
and other activities as defined in AS-17, hence segment reporting is not
applicable to the Company.
7) The previous financial quarter / period ended figures
have been regrouped/rearranged wherever necessary to make them comparable.
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES AS ON 30.09.2013
Rs. In Millions
|
SOURCES OF FUNDS |
|
|
30.09.2013 Unaudited |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
367.500 |
|
(b) Reserves & Surplus |
|
|
8705.700 |
|
Sub-total Shareholders’ |
|
|
9073.200 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
16771.100 |
|
(b) Deferred tax liabilities (Net) |
|
|
1450.300 |
|
(c) Other long term liabilities |
|
|
1257.400 |
|
(d) long-term provisions |
|
|
44.000 |
|
Sub-total of
Non-Current liabilities |
|
|
19522.800 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
2502.100 |
|
(b) Trade payables |
|
|
933.700 |
|
(c) Other current
liabilities |
|
|
2711.300 |
|
(d) Short-term provisions |
|
|
198.100 |
|
Sub-total of Current liabilities |
|
|
6345.200 |
|
|
|
|
|
|
TOTAL |
|
|
34941.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
26990.100 |
|
(b) Good
will on pursuance of consideration |
|
|
0.000 |
|
(c) other
current liabilities |
|
|
9.200 |
|
(e) Long
term loans and advances |
|
|
35.800 |
|
Sub-total of
Non-Current Assets |
|
|
27035.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.200 |
|
(b) Inventories |
|
|
3016.300 |
|
(c) Trade receivables |
|
|
2638.000 |
|
(d) Cash and cash
equivalents |
|
|
2383.300 |
|
(e) Short-term loans and
advances |
|
|
462.300 |
|
(f) Other current assets |
|
|
6.000 |
|
Sub-total of
Current Assets |
|
|
8506.100 |
|
|
|
|
|
|
TOTAL |
|
|
35541.200 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466617 |
20/11/2013 |
3,000,000,000.00 |
State Bank of India |
Industrial Finance Branch, 14
Floor Jawahar Vyapar |
B92140888 |
|
2 |
10455327 |
26/09/2013 |
1,500,000,000.00 |
CORPORATION BANK |
HINDUSTAN TIMES BUILDING, 10TH
FLOOR, 18/20,K.G M |
B87648002 |
|
3 |
10455051 |
26/08/2013 |
1,000,000,000.00 |
Indian Bank |
NEW DELHI, MAIN BRANCH, G-41,
CONNAUGHT CIRCUS, NEW DELHI, Delhi - 110001, INDIA |
B87551925 |
|
4 |
10414367 |
28/03/2013 |
1,000,000,000.00 |
STATE BANK OF BIKANER AND
JAIPUR |
BARAKHAMBA ROAD, NEW DELHI,
Delhi - 110001, INDIA |
B71658843 |
|
5 |
10414180 |
26/02/2013 |
1,000,000,000.00 |
STATE BANK OF HYDERBAD |
Core-6, Scope Complex, Lodhi
Road, New Delhi, Delhi - 110003, INDIA |
B71574990 |
|
6 |
10413297 |
29/01/2013 |
1,080,000,000.00 |
Standard Chartered Bank |
(Acting as an Security Agent)
C D U, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001, INDIA |
B71292700 |
|
7 |
10402052 |
27/12/2012 |
1,500,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH,
106-109, ANSAL TOWER, 38, NEHRU PLACE,, NEW DELHI, Delhi - 110019, INDIA |
B67733493 |
|
8 |
10395156 |
24/12/2012 |
2,000,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDRALOK
BUILDING, 36, JANPATH , NEW DELHI, Delhi - 110001, INDIA |
B65225922 |
|
9 |
10394360 |
21/12/2012 |
2,750,000,000.00 |
IDBI Bank Limited |
Red Cross Society Building, 1,
Red Cross Road, New Delhi, Delhi - 110001, INDIA |
B64968795 |
|
10 |
10422884 |
20/09/2012 |
2,400,000,000.00 |
BANK OF MAHARASHTRA |
A-13, RING ROAD , SOUTH
EXTENSION, PART-1, NEW DELHI, Delhi - 110049, INDIA |
B65933020 |
|
11 |
10368003 |
22/02/2013 * |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
Asian Bldg., Ground Floor, 17
R. Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, INDIA |
B70208053 |
|
12 |
10368075 |
31/07/2012 |
200,000,000.00 |
ICICI Bank Limited |
ICICI Branch Tower, Bandra
Kurla Complex, Bandra (East), Mumbai, Maharashtra - 400051, INDIA |
B44703692 |
|
13 |
10284080 |
28/03/2013 * |
4,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
Asian Bldg., Ground Floor, 17,
R. Kamani Marg, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA |
B72983331 |
|
14 |
10275640 |
06/09/2012 * |
1,750,000,000.00 |
IDBI Bank Limited |
INDIAN RED CROSS SOCIETY
BUILDING, 1, RED CROSS ROAD, NEW DELHI, Delhi - 110001, INDIA |
B58661661 |
|
15 |
10163504 |
08/01/2010 * |
500,000,000.00 |
BANK OF RAJASTHAN |
82 JANPATH, NEW DELHI, Delhi -
110001, INDIA |
A76713346 |
|
16 |
90092554 |
16/08/2013 * |
1,490,000,000.00 |
The Karur Vysya Bank Limited |
Central Processing Cell
(Loans), 65/7, First Floor, New Delhi, Delhi - 110005, INDIA |
B82956152 |
|
17 |
90088676 |
10/02/2012 * |
3,330,000,000.00 |
ANDHRA BANK |
M-35, CONNAUGHT CIRCUS, NEW
DELHI, NEW DELHI, Delhi - 110001, INDIA |
B33718669 |
|
18 |
90084774 |
17/04/1998 * |
50,000,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMENT CORPO. OF INDIA |
163; BACKBAY RECLAMATION,
MUMBAI, Maharashtra - 400020, INDIA |
- |
|
19 |
90089753 |
12/10/1992 * |
10,000,000.00 |
BANK OF BARODA |
MIDC BRANCH, AHMEDNAGAR,
Maharashtra - 414111, INDIA |
- |
|
11 |
10368003 |
22/02/2013 * |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
Asian Bldg., Ground Floor, 17
R. Kamani Marg, Ballard Estate, Mumbai, Maharashtra - 400001, INDIA |
B70208053 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
NEWS:
CRESTA FUND BUYS 18 LAKH SHARES OF AHMEDNAGAR FORGINGS
Jun 17, 2013
On June 14, 2013 Warhol Limited sold 900,000 shares of Ahmednagar Forgings at Rs.105 on the NSE and sold 900,000 shares at Rs.105 on the BSE.
However, Cresta Fund bought 900,000 at Rs.105 on the BSE and bought 900,000 shares at Rs.105 on the NSE.
In the previous trading session, the share closed at Rs.104.60, up Rs.0.85, or 0.82 percent. It has touched an intraday high of Rs.106.50 and an intraday low of Rs.102.45.
The share touched its 52-week high Rs.164.10 and 52-week low Rs.95.15 on 26 December, 2012 and 29 April, 2013, respectively. Currently, it is trading 36.26 percent below its 52-week high and 9.93 percent above its 52-week low. Market capitalization stands at Rs.3844.100 Millions.
The company's trailing 12-month (TTM) EPS was at Rs.27.63 per share. (Mar, 2013). The stock's price-to-earnings (P/E) ratio was 3.79. The latest book value of the company is Rs.200.90 per share. At current value, the price-to-book value of the company was 0.52. The dividend yield of the company was 0.96 percent.
WARHOL SELLS 1.466 MILLIONS SHARES OF AHMEDNAGAR FORGINGS
Jun 19, 2013
On June 18, 2013 Cresta Fund Limited bought 732424 shares of Ahmednagar Forgings at Rs.105 on the BSE and bought 731586 shares at Rs.105 on the NSE.
However, Warhol Limited sold 733449 shares at Rs.105 on the BSE and sold 733449 shares at Rs.105 on the NSE.
In the previous trading session, the share closed at Rs.108.45, up Rs.1.95, or 1.83 percent. It has touched an intraday high of Rs.109.50 and an intraday low of Rs.104.70.
The share touched its 52-week high Rs.164.10 and 52-week low Rs.95.15 on 26 December, 2012 and 29 April, 2013, respectively. Currently, it is trading 33.91 percent below its 52-week high and 13.98 percent above its 52-week low. Market capitalization stands at Rs.3985.500 Millions.
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 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.62.18 |
|
UK Pound |
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
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.