1. Summary Information
|
|
|
Country |
|
|
Company Name |
OEN INDIA LIMITED |
Principal Name 1 |
Pamela Anna Mathew |
|
Status |
Good |
Principal Name 2 |
Sarah Mathew |
|
|
|
Registration # |
09-002169 |
|
Street Address |
29/1479, P B No. 1952, Vyttila, Ernakulam - 682019, Kerala, India |
||
|
Established Date |
08.03.1968 |
SIC Code |
-- |
|
Telephone# |
91-484-2301132 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-484-2302287 |
Business Style 2 |
Dealer |
|
Homepage |
Product Name 1 |
Electromechanical Relays |
|
|
# of employees |
1000 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
50,992,600/- |
Product Name 3 |
-- |
|
Shareholders |
Government Companies – 25% Foreign holdings – 4.54% Bodies corporate – 0.10% Directors or relatives of Directors – 49.49% Other top fifty shareholders – 20.87% |
Banking |
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
46 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives |
India |
Prima Components Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
196,938,000 |
Current Liabilities |
105,425,000 |
|
Inventories |
159,698,000 |
Long-term Liabilities |
14,315,000
|
|
Fixed Assets |
355,682,000 |
Other Liabilities |
68,708,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
188,448,000 |
|
Invest& other Assets |
192,653,000 |
Retained Earnings |
665,530,000 |
|
|
|
Net Worth |
716,523,000 |
|
Total Assets |
904,971,000 |
Total Liab. & Equity |
904,971,000 |
|
Total Assets (Previous Year) |
849,446,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
844,706,000 |
Net Profit |
94.414.000 |
|
Sales(Previous yr) |
896,199,000 |
Net Profit(Prev.yr) |
105,710,000 |
MIRA
INFORM REPORT
|
Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
OEN INDIA LIMITED |
|
|
|
|
Registered
Office : |
29/1479, P B No. 1952, Vyttila, Ernakulam - 682019, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.03.1968 |
|
|
|
|
Com. Reg. No.: |
09-002169 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 50.993
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200KL1968PLC002169 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNO00054F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO2007Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electromechanical Relays. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2870000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There seems some continuous dip in the profit of the company during
2013 however net worth of the company is good. General financial position of
the company is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period with
an annualized return of 20 % ! Equities came in second with annualized return
of 15.5 % ! However, while these returns may seem mouthwatering, the fact is
that the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Jayakumar |
|
Designation : |
Regional Sales Engineer |
|
Contact No.: |
91-9312707997 |
|
Date : |
24.07.2014 |
LOCATIONS
|
Registered/
Corporate/ Sales Office 1: |
29/1479, P B No. 1952, Vyttila, Ernakulam - 682019, Kerala, India |
|
Tel. No.: |
91-484-2301132 / 2303709 / 2302483 / 3014120 / 3053657 |
|
Fax No.: |
91-484-2302287 / 2302221 / 2302211 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory 1: |
Electrogiri, Post Box No. 1, Mulanthuruthy, Cochin - 682314, Kerala,
India |
|
Tel. No.: |
91-484-3053600/ 2711321 to 2711328 |
|
Fax No.: |
91-484-2711891 |
|
|
|
|
Sales Office 2: |
76, First Floor (Rear Side), Sant Nagar, Near Nehru Place, New Delhi – 110065, India |
|
Tel. No.: |
91-11-26221204 |
|
E-Mail : |
|
|
|
|
|
Sales Office 3: |
Ke-204 & 205, Sunrise Chambers, Ulsoor Road, Bangalore – 560042, Karnataka, India |
|
Tel. No.: |
91-80-25594502 |
|
E-Mail : |
|
|
|
|
|
Sales Office 4: |
Venkatanivas, 1st Floor, 63A, Ponniyamman Koil Street, Sathyanarayanapuram, Moulivakkam, Porur, Chennai – 600116, Tamilnadu, India |
|
E-Mail : |
|
|
|
|
|
Sales Office 5: |
B-23, Rajas Garden Housing Society, Opposited S. B. Road,
Model Colony, |
|
Tel. No.: |
91-20-25671942 |
|
E-Mail : |
|
|
|
|
|
Sales Office 6/
Factory 2: |
Flat No. 108, Sai Srinivasa Residency Road No. 3, Mallikarjuna Colony Old Bowenpally, Secunderabad – 500011, Andhra Pradesh, India |
|
E-Mail : |
|
|
|
|
|
Other Factories : |
Located at Pune,
Maharashtra, India |
DIRECTORS
As on 27.09.2013
|
Name : |
Pamela Anna Mathew |
|
Designation : |
Managing Director |
|
Address : |
Oen House, P.B. No. 1952, Vyttila, Cochin, Ernakulam - 682019, Kerala, India |
|
Date of Birth/Age : |
24.02.1950 |
|
Qualification: |
Degree |
|
Date of Appointment : |
10.12.2008 |
|
PAN No.: |
AGTPM9013G |
|
Voter ID No. : |
KL/11/075/363318 |
|
DIN No.: |
00742735 |
|
|
|
|
Name : |
Sarah Mathew |
|
Designation : |
Director |
|
Address : |
Oen House, P.B. No. 1952, Vyttila, Cochin, Ernakulam - 682019, Kerala, India |
|
Date of Birth/Age : |
06.02.1928 |
|
Date of Appointment : |
27.10.1973 |
|
PAN No.: |
AHTPM2441D |
|
DIN No.: |
00007265 |
|
|
|
|
Name : |
Mr. Daniel Babu Paul |
|
Designation : |
Director |
|
Address : |
Cheerothottam, Kowdiar, Trivandrum - 695009, Kerala, India |
|
Date of Birth/Age : |
19.04.1941 |
|
Qualification: |
Degree |
|
Date of Appointment : |
29.09.2004 |
|
DIN No.: |
00103047 |
|
|
|
|
Name : |
Venu Nallur |
|
Designation : |
Director |
|
Address : |
Nallur House, House No. III/176-C, Shanthigram Road, Off Pulickillam West Road, Cochin, Ernakulam - 682020, Kerala, India |
|
Date of Birth/Age : |
15.08.1948 |
|
Qualification: |
Degree |
|
Date of Appointment : |
01.04.2000 |
|
Voter ID No. : |
BXD1439272 |
|
DIN No.: |
00004873 |
|
|
|
|
Name : |
Sunela Sarah Thomas |
|
Designation : |
Director |
|
Address : |
931 Pine Burst Drive, Allen, Texas 75013, Texas |
|
Date of Birth/Age : |
16.06.1961 |
|
Date of Appointment : |
29.09.2007 |
|
PAN No.: |
ANWPM6252B |
|
DIN No.: |
01673840 |
|
|
|
|
Name : |
Mr. Thomas Thomas |
|
Designation : |
Director |
|
Address : |
28/1058, Prashanthe, Indira Nagar, Cochin, Ernakulam - 682020, Kerala, India |
|
Date of Birth/Age : |
07.09.1946 |
|
Date of Appointment : |
24.06.2011 |
|
DIN No.: |
00743978 |
KEY EXECUTIVES
|
Name : |
Mr. Jayakumar |
|
Designation : |
Regional Sales Engineer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Government Companies |
25.00 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
4.54 |
|
Bodies corporate |
0.10 |
|
Directors or relatives of Directors |
49.49 |
|
Other top fifty shareholders |
20.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Dealer of Electromechanical Relays. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash, Cheque and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
Bank of India, M.G. Road, (Ernakulam) Branch, 35/1301-2, First Floor,
Collis Estate, Ernakulam, Kochi - 682016, Kerala, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
Nettipadam Road, Ernakulam, Kerala, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFV9555E |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· R Engineering, India Prima
Components Limited, India |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5099260 |
Equity Shares |
Rs.10/- each
|
Rs. 50.993
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 |
|
50.993 |
50.993 |
|
(b) Reserves & Surplus |
|
665.530 |
580.064 |
|
(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) |
|
716.523 |
631.057 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
8.769 |
13.219 |
|
(b) Deferred tax liabilities (Net) |
|
13.806 |
20.025 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
18.444 |
14.507 |
|
Total Non-current Liabilities (3) |
|
41.019 |
47.751 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
5.546 |
7.756 |
|
(b) Trade payables |
|
58.399 |
71.687 |
|
(c) Other current liabilities |
|
33.220 |
23.700 |
|
(d) Short-term provisions |
|
50.264 |
67.495 |
|
Total Current Liabilities (4) |
|
147.429 |
170.638 |
|
|
|
|
|
|
TOTAL |
|
904.971 |
849.446 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
353.640 |
285.623 |
|
(ii) Intangible Assets |
|
2.042 |
0.999 |
|
(iii) Capital
work-in-progress |
|
23.764 |
10.699 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
78.937 |
82.591 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
7.100 |
7.005 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
465.483 |
386.917 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
89.952 |
60.300 |
|
(b) Inventories |
|
159.698 |
161.382 |
|
(c) Trade receivables |
|
149.740 |
165.682 |
|
(d) Cash and cash equivalents |
|
6.886 |
39.552 |
|
(e) Short-term loans and
advances |
|
31.495 |
32.218 |
|
(f) Other current assets |
|
1.717 |
3.395 |
|
Total Current Assets |
|
439.488 |
462.529 |
|
|
|
|
|
|
TOTAL |
|
904.971 |
849.446 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
50.993 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
483.244 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
534.237 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
23.804 |
|
|
TOTAL BORROWING |
|
|
23.804 |
|
|
DEFERRED TAX LIABILITIES |
|
|
23.152 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
581.193 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
276.654 |
|
|
Capital work-in-progress |
|
|
9.449 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
95.347 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
154.556
|
|
|
Sundry Debtors |
|
|
96.085
|
|
|
Cash & Bank Balances |
|
|
33.639
|
|
|
Other Current Assets |
|
|
24.864
|
|
|
Loans & Advances |
|
|
76.677
|
|
Total
Current Assets |
|
|
385.821
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
61.619
|
|
|
Other Current Liabilities |
|
|
9.823
|
|
|
Provisions |
|
|
114.636
|
|
Total
Current Liabilities |
|
|
186.078
|
|
|
Net Current Assets |
|
|
199.743
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
581.193 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
|
844.706 |
896.199 |
|
|
|
Other Income |
|
42.747 |
36.794 |
|
|
|
TOTAL (A) |
|
887.453 |
932.993 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
381.172 |
398.430 |
|
|
|
Purchases of stock-in-trade |
|
53.450 |
47.053 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
|
1.130 |
(8.256) |
|
|
|
Employee benefit expense |
|
179.630 |
191.424 |
|
|
|
Other expenses |
|
108.650 |
113.016 |
|
|
|
Exceptional items |
|
(11.855) |
(9.627) |
|
|
|
TOTAL (B) |
|
712.177 |
732.040 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
175.276 |
200.953 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
3.740 |
3.080 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
171.536 |
197.873 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
45.518 |
43.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
|
126.018 |
154.627 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
31.604 |
48.917 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
|
94.414 |
105.710 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods |
|
24.008 |
20.955 |
|
|
|
FOB basis Job Charges |
|
5.475 |
15.381 |
|
|
|
Commission |
|
0.156 |
0.652 |
|
|
TOTAL EARNINGS |
|
29.639 |
36.988 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
|
248.259 |
249.100 |
|
|
|
Spares |
|
1.087 |
0.123 |
|
|
|
Capital Goods |
|
13.095 |
18.223 |
|
|
|
Stock in Trade |
|
44.213 |
39.508 |
|
|
TOTAL IMPORTS |
|
306.654 |
306.954 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
18.52 |
20.73 |
|
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
754.251 |
|
|
|
Other Income |
|
|
73.817 |
|
|
|
TOTAL (A) |
|
|
828.068 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
|
|
380.949 |
|
|
|
Manufacturing Service Costs |
|
|
3.779 |
|
|
|
Employee Related Expenses |
|
|
168.639 |
|
|
|
Administrative Selling Other Expenses |
|
|
80.830 |
|
|
|
TOTAL (B) |
|
|
634.197 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
193.871 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
2.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
191.082 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
39.593 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
151.489 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
43.089 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
|
108.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
|
|
NA |
|
|
|
Job Charges |
|
|
NA |
|
|
|
Others |
|
|
NA |
|
|
TOTAL EARNINGS |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
|
|
NA |
|
|
|
Spares |
|
|
NA |
|
|
|
Capital Goods |
|
|
NA |
|
|
|
Stock in Trade |
|
|
NA |
|
|
TOTAL IMPORTS |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
21.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.64
|
11.33 |
13.09
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.92
|
17.25 |
20.08
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.71
|
20.45 |
22.87
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.25 |
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02
|
0.03 |
0.04
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.98
|
2.71 |
2.07
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
50.993 |
50.993 |
|
Reserves & Surplus |
|
580.064 |
665.530 |
|
Net
worth |
|
631.057 |
716.523 |
|
|
|
|
|
|
long-term borrowings |
|
13.219 |
8.769 |
|
Short term borrowings |
|
7.756 |
5.546 |
|
Total
borrowings |
|
20.975 |
14.315 |
|
Debt/Equity
ratio |
|
0.033 |
0.020 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
754.251 |
896.199 |
844.706 |
|
|
|
18.820 |
(5.746) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
754.251 |
896.199 |
844.706 |
|
Profit |
108.400 |
105.710 |
94.414 |
|
|
14.37% |
11.80% |
11.18% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90022435 |
12/03/1999 |
15,000,000.00 |
BANK OF INDIA |
M. G. ROAD, COCHIN - 686016, KERALA, INDIA |
- |
|
2 |
90022380 |
29/06/1998 |
30,000,000.00 |
CENTURION BANK LIMITED |
CHOICE TOWERS, MANORAMA JUNCTION, COCHIN - 682016, KERALA, INDIA |
- |
|
3 |
90021645 |
16/01/1990 * |
12,000,000.00 |
BANK OF INDIA |
M. G. ROAD, COCHIN - 686016, KERALA, INDIA |
- |
|
4 |
90021613 |
15/12/1983 |
1,000,000.00 |
BANK OF INDIA |
M. G. ROAD, COCHIN - 686016, KERALA, INDIA |
- |
|
5 |
90020896 |
01/04/1983 * |
7,500,000.00 |
BANK OF INDIA |
M. G. ROAD, COCHIN - 686016, KERALA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from directors |
1.260 |
1.810 |
|
Deposits from others |
7.509 |
11.409 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits from directors |
5.000 |
5.000 |
|
Deposits from others |
0.546 |
2.756 |
|
Total |
14.315 |
20.975 |
OPERATIONS:
The financial year 2012-13 was not smooth sailing for the economy. Depressed market conditions continued. Demand remained subdued. The slow down of the Indian economy last year was precipitous. Growth was much below the 9.7% GDP level they achieved a few years back. Policy paralysis, tight monetary policy, high retail inflation, drop in investment in infrastructure, weakening of macro fundamentals slowed the India growth story. Reduction in interest rate is needed to stimulate demand but RBI is in no position to ease the monetary policy because of high retail inflation. The most recent event of falling by 22% hitting an all time low against US dollar has affected imports making them costlier. Besides these, dismal performance of key sectors such as manufacturing, mining, power and capital goods has dragged the industrial production down. The roller coaster ride of the rupee hopefully is only a temporary phase. RBI may be emboldened to cut interest rates at an appropriate time to support the series of reforms being rolled out to stem the tide of despondency that has gripped the economy and to boost growth. The company could achieve only a gross turnover of Rs.903.100 Millions in 2012-13 as against Rs.933.500 Millions in the previous year. The profit before tax stood at Rs.126.000 Millions in 2012-13 as compared to Rs.154.600 Millions in the previous year. Material and other input costs have gone up, and that has affected the bottom line adversely. Though the profit levels have not increased, they have been extremely successful in achieving improvement in yield, productivity and lean manufacturing. These efforts have given the desired results with their business performance reflecting continued profitability despite severe cost pressures. :
The operations of the company are largely dependent on the growth of Indian Automotive industry. The main demand drivers (auto and auto ancillaries) face much lower growth in volumes now. Presently the sales are on a downhill slide. General economic conditions impact the automotive industry and in turn, the operations of the company. Currently the automobile industry production is sliding down, volumes have declined, and there is still pressure on competition-led pricing. Looking ahead, the signs of early economic recovery is slim.
Hence the general outlook for 2013-14 is uncertain. Under the circumstances, they would continue their efforts to reduce input costs, attempt to grow in non automotive business/markets and be watchful about opportunities to be tapped. The company has taken steps to broaden its product portfolio, increase customer profile and geographic reach. The company faces strong competitive pressures both domestic and overseas. Therefore aggressive cost reduction efforts are pursued to offset the increased input costs and improve margins.
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Other
Equipments
v
Intangible Assets
Computer
Software
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.60.10 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.