MIRA INFORM REPORT
|
Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRATIBHA INDUSTRIES LIMITED |
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Registered
Office : |
Shrikant Chambers, Phase II, 5th Floor, Sion – Trombay Road,
Next To R.K. Studio, Chembur, Mumbai-400071, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.07.1995 |
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Com. Reg. No.: |
11-090760 |
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Capital Investment
/ Paid-up Capital : |
Rs.348.850
Millions |
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CIN No.: [Company Identification
No.] |
L45200MH1995PLC090760 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP08929E |
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Legal Form : |
A Public Limited Liability Company. The company’s Shares are Listed on
The Stock Exchange. |
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Line of Business
: |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments terms
are reported to be usually correct. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB [Long Term - Downgraded
From A - ] |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
30.09.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ [Short Term – Downgraded From A2+ ] |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
30.09.2013 |
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 PARTED BY
Management non co-operative [91-22-39559999]
LOCATIONS
|
Registered Office : |
Shrikant Chambers, Phase II, 5th Floor, Sion – Trombay
Road, Next To R.K. Studio, Chembur, Mumbai-400071, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9930458515 [Mr. Pankaj Chourasia] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head / Corporate Office : |
14th Floor,
Universal Majestic, P. L Lokhande Marg, Off. Ghatkopar Mankhurd Unk Road,
Govandi (West), Mumbai-400043, Maharashtra, India |
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Tel. No.: |
91- 22-39559999 |
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Fax No.: |
91- 22-39559900 |
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E-Mail : |
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Factory : |
Plot No. 215,
Vljaypur, P.O. Kone, Bhiwandi-Wada Road, Tal Wada, District Thane-421303,
Maharashtra, India |
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Site Office : |
Magnum Developers,
Lalbaug Plant, Chewda Galli, Opposite Lalbaug Raja, Lok Satta Campus, Mumbai,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mrs. Usha B. Kulkarni |
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Designation : |
Chairperson |
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Name : |
Mr. Ajit B. Kulkarni |
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Designation : |
Managing Director |
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Name : |
Mr. Ravi A. Kulkarni |
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Designation : |
Whole Time Director |
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Name : |
Mr. Sharad P. Deshpande |
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Designation : |
Whole Time Director |
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Name : |
Mr. Awinash M. Arondekar |
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Designation : |
Director |
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Name : |
Mr. Shrikant T. Gadre |
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Designation : |
Director |
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Name : |
Dr. S. L. Dhingra |
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Designation : |
Director |
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Name : |
Mr. V. Sivakumaran |
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Designation : |
Director |
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Name : |
Mr. Vilas B. Parulekar |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj Chourasia |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as
a % of Total No. of Shares |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
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|
51636643 |
51.10 |
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|
51636643 |
51.10 |
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|
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|
Total shareholding of Promoter
and Promoter Group (A) |
51636643 |
51.10 |
|
(B) Public Shareholding |
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|
|
|
|
|
|
|
6000000 |
5.94 |
|
|
185639 |
0.18 |
|
|
15003095 |
14.85 |
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|
21188734 |
20.97 |
|
|
|
|
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|
9534961 |
9.44 |
|
|
|
|
|
|
10919499 |
10.81 |
|
|
1191242 |
1.18 |
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|
6584313 |
6.52 |
|
|
421315 |
0.42 |
|
|
10000 |
0.01 |
|
|
718215 |
0.71 |
|
|
5434783 |
5.38 |
|
|
28230015 |
27.94 |
|
Total Public shareholding (B) |
49418749 |
48.90 |
|
Total (A)+(B) |
101055392 |
100.00 |
|
(C) Shares held by Custodians and
against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
101055392 |
0.00 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE
SECURITIES) OF PERSONS BELONGING TO THE CATEGORY “PROMOTER AND PROMOTER GROUP”
|
Sl. |
Name of the Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
|
|
|
|
|
1 |
Usha Bhagwan Kulkarni |
1,40,44,750 |
13.90 |
|
2 |
Vinayak Bhagwan Kulkarni |
27,04,513 |
2.68 |
|
3 |
Ajit B Kulkarni |
1,63,16,554 |
16.15 |
|
4 |
Ajit Bhagwan Kulkarni |
43,17,750 |
4.27 |
|
5 |
Vinayak Kulkarni |
14,84,618 |
1.47 |
|
6 |
Ramdas Bhagwan Kulkarni |
17,52,500 |
1.73 |
|
7 |
Sunanda Datta Kulkarni |
1,00,00,000 |
9.90 |
|
8 |
Ravi Ajit Kulkarni |
10,00,000 |
0.99 |
|
9 |
Radha Ramdas Kulkarni |
2,500 |
0.00 |
|
10 |
Samidha Ajit Kulkarni |
2,500 |
0.00 |
|
11 |
Anand A Kulkarni |
6,250 |
0.01 |
|
12 |
Manohar Dattatraya Kulkarni |
4,700 |
0.00 |
|
13 |
Shyam Ramdas kulkarni |
8 |
0.00 |
|
|
Total |
5,16,36,643 |
51.10 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE
SECURITIES) OF PERSONS BELONGING TO THE CATEGORY “PUBLIC” AND HOLDING MORE THAN
1% OF THE TOTAL NUMBER OF SHARES
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
|
|
|
|
|
1 |
Warhol Ltd |
6097561 |
6.03 |
|
2 |
Reliance Capital Trustee Co Limited A/c
Reliance Regular Saving Fund - Equity Option |
6000000 |
5.94 |
|
3 |
Van Dyck |
5434783 |
5.38 |
|
4 |
Iron Wood Investment Holdings |
4986200 |
4.93 |
|
5 |
Citigroup Global Market Mauritius Private
Limited |
3677763 |
3.64 |
|
6 |
Bajaj Allianz Life Insurance Company
Limited |
3039896 |
3.01 |
|
7 |
Reliance Capital Limited |
1450000 |
1.43 |
|
|
Total |
30686203 |
30.37 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE
SECURITIES) OF PERSONS (TOGETHER WITH PAC) BELONGING TO THE CATEGORY “PUBLIC”
AND HOLDING MORE THAN 5% OF THE TOTAL NUMBER OF SHARES OF THE COMPANY
|
Sl. |
Name of the
Shareholder |
Details of
Shares held |
|
|
|
|
No. of Shares
held |
As a % of |
|
|
|
|
|
|
1 |
Warhol Limited |
6097561 |
6.03 |
|
2 |
Reliance Capital Trustee Co Limited A/c Reliance
Regular Saving Fund - Equity Option |
6000000 |
5.94 |
|
3 |
Van Dyck |
5434783 |
5.38 |
|
|
Total |
17532344 |
17.35 |
BUSINESS DETAILS
|
Line of Business : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
LICENSED CAPACITY
AND INSTALLED CAPACITY
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
M S Pipe |
M.T. |
90.00 |
17.055 |
|
Coating |
M2 |
1800.00 |
262.587 |
ACTUAL PRODUCTION
|
Particulars |
Unit |
Actual
Production |
|
M S Pipe |
M.T. |
15.658 |
|
M S Cut End |
M.T. |
0.970 |
|
HR Coil/Plate |
M.T. |
1.993 |
|
Coating of Pipe |
M2 |
262.587 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
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Facilities : |
NOTES:
vii.
Fixed Deposit from Public are repayable within a year from the date of
deposit at an interest rate of 11.50% p.a. and 11.75% p.a. These deposits are
unsecured in nature. |
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Banking
Relations : |
-- |
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Statutory
Auditors : |
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|
Name : |
Jayesh Sanghrajka and Company Chartered Accountants |
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Internal Auditors
: |
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|
Name : |
Choksi and Choksi Chartered Accountants |
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Cost Auditors : |
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|
Name : |
Narasimha Murthy and Company Cost Accountants |
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Associates/ Subsidiaries : |
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Joint Venture : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.2/- each |
Rs.250.000 Millions |
|
1631000 |
Compulsorily Convertible Participatory Preferences Shares |
Rs.92/- each |
Rs.150.052 Millions |
|
|
TOTAL
|
|
Rs.400.052
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101055392 |
Equity Shares |
Rs.2/- each |
Rs.202.111
Millions |
|
|
|
|
|
NOTES:
RECONCILIATION OF SHARES
OUTSTANDING AT THE BEGINNING AND AT THE END OF THE REPORTING PERIOD EQUITY
SHARES
|
PARTICULAR |
AS ON 31.03.2013 |
|
|
|
No. of Shares |
Amount in
Millions |
|
Number
of Shares at the beginning |
99424957 |
198.850 |
|
Add:-
CCPPS Converted into Equity Share |
1630435 |
3.261 |
|
Number
of Shares at the end |
101055392 |
202.111 |
COMPULSORILY CONVERTIBLE PARTICIPATORY PREFERENCE SHARES
|
PARTICULAR |
AS ON 31.03.2013 |
|
|
|
No. of Shares |
Amount in
Millions |
|
Number
of Shares at the beginning |
1630435 |
150.000 |
|
(Less):-
CCPPS Converted into Equity Share |
(1630435) |
(150.000) |
|
Number
of Shares at the end |
0.000 |
0.000 |
TERMS/RIGHTS ATTACHED TO
EQUITY SHARES
Equity shares are having a
par value of Rs. 2 per share. Each holder of equity shares is entitled to one
vote per share. The Company declares and pays dividend in Indian Rupees. The
dividend proposed by the Board of Directors is subject to the approval of
shareholders in the ensuing Annual General Meeting.
The Board of Directors in
their meeting held on 24th May 2013, proposed final dividend of Rs. 0.60 per
share. The proposal is subject to approval of shareholders at next Annual
General Meeting to be held. The total appropriation for the year ended March
31, 2013 amounted to Rs. 70.938 Millions including corporate dividend tax of
Rs. 10.304 Millions.
In the event of liquidation
of the Company, the holders of equity shares will be entitled to receive
remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
DETAILS OF SHAREHOLDERS HOLDING
MORE THAN 5% SHARES IN THE COMPANY
|
PARTICULAR |
AS ON 31.03.2013 |
|
|
|
No. of Shares |
% |
|
Equity
shares of Rs. 2 each fully paid |
|
|
|
Usha
Bhagwan Kulkarni |
13002500 |
12.87% |
|
Ajit
B. Kulkarni |
11835854 |
11.71% |
|
Sunanda
Datta Kulkarni |
10000000 |
9.90% |
|
Vinayak
Bhagwan Kulkarni |
7817185 |
7.74% |
|
Warhol
Limited |
6097561 |
6.03% |
|
Reliance
Capital Trustee Co Ltd A/c Reliance |
|
|
|
Rural
Saving Fund- Equity Option |
6000000 |
5.94% |
|
Van
Dyck |
5434783 |
5.38% |
As per the of the Company,
including its register of shareholders/members and other declaration received
from shareholders regarding beneficial interest, the above shareholding
represents both legal and beneficial ownership of shares.
16,30,435 Shares were
allotted on conversion of Compulsorily Convertible Participatory Preference
Shares during the year.
Company has neither issued
any bonus shares nor any shares (apart from above) pursuant to contract without
payment being received in cash during preceding five years. It has also not
bought back any shares during these years.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
202.111 |
348.850 |
348.850 |
|
(b) Reserves &
Surplus |
6275.246 |
5247.778 |
4485.865 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
6477.357 |
5596.628 |
4834.715 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4930.615 |
1795.609 |
701.525 |
|
(b) Deferred tax
liabilities (Net) |
335.107 |
240.668 |
183.959 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
625.809 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
5265.722 |
2036.277 |
1511.293 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5242.680 |
4606.161 |
2756.387 |
|
(b) Trade payables |
3148.226 |
3953.490 |
2123.821 |
|
(c) Other current
liabilities |
4616.544 |
3995.175 |
2150.269 |
|
(d) Short-term provisions |
347.427 |
744.000 |
493.281 |
|
Total Current Liabilities
(4) |
13354.877 |
13298.826 |
7523.758 |
|
|
|
|
|
|
TOTAL |
25097.956 |
20931.731 |
13869.766 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6709.867 |
4660.793 |
2969.704 |
|
(ii) Intangible Assets |
85.047 |
37.450 |
14.172 |
|
(iii) Capital
work-in-progress |
5.029 |
1165.920 |
147.980 |
|
(iv) Intangible assets
under development |
0.000 |
52.314 |
0.000 |
|
(b) Non-current
Investments |
51.370 |
33.102 |
104.138 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1040.763 |
1133.103 |
160.622 |
|
(e) Other Non-current
assets |
258.832 |
204.198 |
0.000 |
|
Total Non-Current Assets |
8150.908 |
7286.880 |
3396.616 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
20.000 |
0.000 |
|
(b) Inventories |
6408.262 |
4575.758 |
3438.949 |
|
(c) Trade receivables |
2573.810 |
2718.279 |
1792.851 |
|
(d) Cash and cash
equivalents |
967.408 |
1265.695 |
1024.917 |
|
(e) Short-term loans and
advances |
6346.561 |
4303.882 |
3806.870 |
|
(f) Other current assets |
651.007 |
761.237 |
409.563 |
|
Total Current Assets |
16947.048 |
13644.851 |
10473.150 |
|
|
|
|
|
|
TOTAL |
25097.956 |
20931.731 |
13869.766 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
16496.398 |
15034.353 |
11726.633 |
|
|
Other Income |
115.254 |
185.169 |
12.442 |
|
|
TOTAL (A) |
16611.652 |
15219.522 |
11739.075 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
7337.854 |
6232.582 |
5382.646 |
|
|
Manufacturing,
construction and operating expenses |
5349.814 |
5283.503 |
3717.814 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1840.251) |
(1125.263) |
(688.479) |
|
|
Employees benefits expense |
1132.447 |
904.096 |
616.303 |
|
|
Other expenses |
1871.150 |
1652.753 |
997.158 |
|
|
TOTAL (B) |
13851.014 |
12947.671 |
10025.442 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
2760.638 |
2271.851 |
1713.633 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1161.424 |
971.904 |
612.095 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1599.214 |
1299.947 |
1101.538 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
291.223 |
188.453 |
143.388 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
1307.991 |
1111.494 |
958.15 |
|
|
|
|
|
|
|
Less |
TAX (I) |
356.324 |
279.094 |
243.818 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
951.667 |
832.400 |
714.332 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
2694.179 |
2015.566 |
1443.947 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
95.300 |
83.300 |
72.000 |
|
|
Proposed Dividend on
Equity Shares |
60.633 |
59.655 |
39.770 |
|
|
Proposed Dividend on
CCPPS |
0.000 |
0.978 |
0.652 |
|
|
Annual Fixed Dividend |
0.000 |
0.015 |
0.008 |
|
|
Corporate Dividend Tax |
10.305 |
9.839 |
10.072 |
|
|
Interim Dividend |
0.000 |
0.000 |
20.211 |
|
|
Total (M) |
166.238 |
153.787 |
142.713 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
3479.608 |
2694.179 |
2015.566 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Consultancy Fees |
19.428 |
8.669 |
214.492 |
|
|
Overseas Contract Revenue
|
1650.867 |
2090.933 |
0.000 |
|
|
TOTAL EARNINGS |
1670.295 |
2099.602 |
214.492 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Consumables Stores |
0.000 |
28.600 |
37.501 |
|
|
Capital Goods |
0.000 |
0.000 |
1.792 |
|
|
TOTAL IMPORTS |
0.000 |
28.600 |
37.501 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
|
- Basic |
9.44 |
8.36 |
7.89 |
|
|
- Diluted |
9.44 |
8.24 |
7.86 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
31.03.2014 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
3540.900 |
4135.800 |
2940.500 |
4894.800 |
|
Total Expenditure |
3084.600 |
3644.900 |
2454.900 |
4251.300 |
|
PBIDT (Excl OI) |
456.300 |
491.000 |
485.500 |
643.500 |
|
Other Income |
29.900 |
78.600 |
51.100 |
70.100 |
|
Operating Profit |
486.200 |
569.600 |
536.600 |
713.600 |
|
Interest |
309.900 |
344.700 |
229.600 |
415.300 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
176.300 |
224.900 |
307.000 |
298.400 |
|
Depreciation |
89.200 |
93.900 |
115.700 |
119.100 |
|
Profit Before Tax |
87.100 |
131.000 |
191.300 |
179.200 |
|
Tax |
37.800 |
53.300 |
59.200 |
73.200 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
49.300 |
77.700 |
132.100 |
106.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
49.300 |
77.700 |
132.100 |
106.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.73 |
5.47 |
6.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.93 |
7.39 |
8.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.22 |
5.65 |
7.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.20 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.57 |
1.14 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.03 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
348.850 |
348.850 |
202.111 |
|
Reserves & Surplus |
4485.865 |
5247.778 |
6275.246 |
|
Net worth |
4834.715 |
5596.628 |
6477.357 |
|
|
|
|
|
|
long-term borrowings |
701.525 |
1795.609 |
4930.615 |
|
Short term borrowings |
2756.387 |
4606.161 |
5242.680 |
|
Total borrowings |
3457.912 |
6401.770 |
10173.295 |
|
Debt/Equity ratio |
0.715 |
1.144 |
1.571 |
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 |
11726.633 |
15034.353 |
16496.398 |
|
|
|
28.207 |
9.725 |
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 |
11726.633 |
15034.353 |
16496.398 |
|
Profit |
714.332 |
832.400 |
951.667 |
|
|
6.09% |
5.54% |
5.77% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
931.589 |
658.243 |
373.553 |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10486447 |
26/03/2014 |
700,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDERLOK
BUILDING, 36, JANPA |
C01016625 |
|
2 |
10479493 |
11/02/2014 |
200,000,000.00 |
STATE BANK OF TRAVANCORE |
CORPORATE FINANCE BRANCH,
112-115 TULSIANI CHAMBERS FREE PRESS JOURNAL MARG, MUMBAI - |
B97160121 |
|
3 |
10470862 |
24/12/2013 |
1,950,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, ALLAHABAD BANK BUILDING, 2ND FLOOR, 37, MUMBAI SAMACHAR MARG, FORT,
MUMBAI - 400023, MAHARASHTRA, INDIA |
B93771400 |
|
4 |
10448842 |
19/11/2013 * |
600,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER TOWER, 'E',
CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA |
B90609363 |
|
5 |
10455706 |
31/08/2013 |
52,500,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR,
DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI - 400710,
MAHARASHTRA, INDIA |
B87775201 |
|
6 |
10441692 |
08/08/2013 |
2,000,000,000.00 |
BANK OF INDIA |
MDI BUILDING, 1ST FLOOR,
28, S. V. ROAD, ANDHERI |
B81522831 |
|
7 |
10445818 |
05/08/2013 |
21,640,000.00 |
MAGMA FINCORP LIMITED |
MAGMA HOUSE, 24 PARK
STREET, KOLKATA - 700016, WEST BENGAL , INDIA |
B83462853 |
|
8 |
10445822 |
05/08/2013 |
25,858,700.00 |
MAGMA FINCORP LIMITED |
MAGMA HOUSE, 24 PARK
STREET, KOLKATA - 700016, WEST BENGAL , INDIA |
B83464099 |
|
9 |
10449513 |
31/07/2013 |
31,000,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR,
DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI - 400710,
MAHARASHTRA, INDIA |
B85199214 |
|
10 |
10442338 |
23/07/2013 |
27,000,000.00 |
HDB FINANCIAL SERVICES
LIMITED |
RADHIKA, 2ND FLOOR, LAW GARDEN
ROAD, NAVRANGPURA, AHMEDABAD, GUJARAT - 380009, INDIA |
B81832651 |
* Date of charge modification
|
CASE DETAILS BENCH: BOMBAY LODGING
NO.: ITXAL/1189/2014
FILING DATE: 18/06/2014
|
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Fixed
Deposit from Public |
204.364 |
0.000 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Fixed
Deposit from Public |
55.495 |
0.000 |
|
TOTAL
|
259.859 |
0.000 |
PERFORMANCE REVIEW:
The Company was able to
sustain a growth in turnover despite of many challenges faced in the last
financial year, such as liquidity, rising fiscal deficits, adverse trade balance
and continued inflation results into high interest rates, uncertain political
environment.
For the period, the Company
has registered healthy 29% increase in total income generated, growing from Rs.
16894.100 Millions in FY 2011-12 to a record Rs. 21821.500 Millions in FY
2012-13. The EBITDA have also, during the period, witnessed a significant
growth of about 27% and increased from Rs. 2428.700 Millions in FY 2011-12 to
Rs. 3087.500 Millions in FY 2012-13.
However, due to rising
commodity price and higher borrowing cost, the net profits marginally increased
to Rs. 827.000 Millions compare to previous year figure of Rs. 811.000
Millions. Despite of heavy pressure on Infra Companies, the Company was able to
grab the good work contracts into its kitty and order book of the Company stood
at approx. Rs. 62000.000 Millions as on 31st March, 2013 which is to be
executed in span of three to five years time. The Management is expected that
these new projects shall improve the profitability of the Company and ease
pressure on profitability due to increased commodity prices and higher interest
cost. The management are confident to come out of all the external and internal
challenges affecting the business environment of the Company and will achieve
highest growth rate in turnover and net profit in years to come.
MANAGEMENT DISCUSSION AND
ANALYSIS (MDA)
INDUSTRY STRUCTURE –
GENERAL:
Total USD 55 to 60 trillion
in infrastructure investment is needed worldwide between 2013 and 2030 to keep
up with global growth momentum. Developed countries will have to invest to
maintain aging transport, power, water and telecom networks, while India need
to focus on just getting basic infrastructure in place. India could create 3.4
million new direct and indirect jobs with an increase in infrastructure
spending equivalent to 1% of gross domestic product. India has called for USD 1
trillion in public and private infrastructure spending in the next five years.
Government has announced plans for various infrastructure developments across
the Country including two major ports, three airports, nearly 6,000 miles of
new road projects and an elevated rail-corridor in Mumbai.
At present, India spends
4.7% of GDP on infrastructure, compared to 8.5% of GDP in China and 2.6% in the
U.S. Ramping up spending could create millions of new jobs in India. India’s
estimated 5% GDP growth for the financial year 2013-14 is stoking concerns
among policymakers that unemployment could spike, especially among youth. By
following “best practices” to build as efficiently as possible, Countries could
save as much as USD 1 trillion per year in infrastructure development costs. In
India, most road projects get delayed 15%-20% beyond their intended timelines
because of land acquisition issues and the same situation for other
infrastructure development of the Country.
OUTLOOK – GENERAL:
The outlook for the
infrastructure sector continues to remains under pressures in the 2013-14
largely due to unfavourable macro-economic conditions, liquidity, weak rupees
and project level stresses. The slowing economy will have a negative impact on
transportation assets. A sizeable proportion of power, road and other mega
infra projects continue to be affected by the Country's systemic fuel shortages
and execution bottlenecks. A combination of project-level failings and negative
macro-economic conditions has contributed to the deterioration in credit
profiles of the Indian Companies. As per the report of Credit Rating Companies,
ratings were downgraded in respect to Infrastructure Development Companies
during the last one year to reflect defaults in payment of debt service or
pending finalization of loan restructuring packages etc.
The Government's numerous
policy measures are positive for the sector but their impact on infrastructure
and credit quality will be reflected only over the medium term. The long-term
credit fundamentals for infrastructure projects remain protected, underpinned
by favourable demand trends due to India's massive infrastructure deficit.
However, the pain points, in short term, are unlikely to materially subside.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Unutilized Letters of Credit with Bankers |
2745.226 |
2069.671 |
|
Bank Guarantee |
13550.261 |
10135.986 |
|
Corporate Guarantee |
10143.400 |
6388.400 |
|
Estimated
amounts of contract remaining to be executed on Capital Account and not
provided for |
1345.526 |
105.324 |
|
Cases in the court,
which in the opinion of the management, require no provision of liability
than what is recorded in accounts. |
37.900 |
59.729 |
|
Income Tax
liability (excluding Penalties) that may arise. The Commissioner of Income Tax
(Appeal) has allowed the claim of Section 80IA and has passed all the appeal
orders in favour of the Company. The Department has filled appeal with ITAT
against the orders. |
0.000 |
827.249 |
|
Central Excise
Liability (excluding Penalties) that may arise. The matter is with CESTAT.
Based on the decisions of the Appellate authorities and the interpretations
of other relevant provisions, the Company has been legally advised that the
demand is likely to be either deleted or substantially reduced and accordingly
no provision has been made. |
2.427 |
13.874 |
|
Service Tax
liability (excluding Penalties) that may arise. The matter is with CESTAT.
Based on the decisions of the Appellate authorities and the interpretations of
other relevant provisions, the Company has been legally advised that the
demand is likely to be either deleted or substantially reduced and
accordingly no provision has been made. |
13.653 |
9.966 |
|
Assignment of
Retention Receivables to Indus-Ind Bank– during the year company has assigned
its retention receivables to Indus-Ind bank with recourse to the extent of
amount. |
13.553 |
0.000 |
|
TOTAL
|
27851.946 |
19610.199 |
NOTE:
The management is of the opinion
that claims for performance guarantee will not arise related to the projects
executed previously.
FIXED ASSETS:
- Office Premises
- Plant and Machinery
- Furniture and Fixture
- Electrical Installation
- Office Equipment
- Vehicles
- Computer Software
- Factory Building
- Land
AUDITED FINANCIAL RESULTS
STANDALONE FOR YEAR ENDED / QUARTER ENDED ON 31ST MARCH, 2014
Rs. In Millions
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
Audited
|
Unaudited
|
Audited
|
|
|
|
|
|
|
|
1. |
Net Sales/Income
from Operations |
4055.092 |
2933.757 |
14652.441 |
|
|
Other Operating
Income |
839.674 |
6.702 |
859.530 |
|
|
Total Income From Operations (Net) |
4894.766 |
2940.459 |
15511.971 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Cost
of materials consumed |
1668.791 |
1073.725 |
4697.480 |
|
|
Purchase
of stock in trade |
747.637 |
619.155 |
1443.339 |
|
|
Manufacturing,
construction and operating expenses |
1700.048 |
610.747 |
4099.238 |
|
|
Changes
in inventories of finished goods, work in progress and stock in trade |
(665.314) |
(372.269) |
90.847 |
|
|
Employee
benefits expenses |
225.177 |
214.951 |
874.784 |
|
|
Depreciation
and amortization expenses |
119.138 |
115.744 |
418.038 |
|
|
Other
expenses |
574.967 |
308.620 |
1941.061 |
|
|
Total Expenses |
4370.444 |
2570.673 |
13564.787 |
|
|
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
524.322 |
369.786 |
1947.184 |
|
|
|
|
|
|
|
4. |
Other
Income |
45.243 |
38.051 |
177.234 |
|
|
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
569.565 |
407.837 |
2124.418 |
|
|
|
|
|
|
|
6. |
Interest |
390.356 |
216.558 |
1535.843 |
|
|
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
179.209 |
191.279 |
588.575 |
|
|
|
|
|
|
|
8. |
Exceptional
Items |
-- |
-- |
-- |
|
|
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
179.209 |
191.279 |
588.575 |
|
|
|
|
|
|
|
10. |
Tax
Expense |
73.166 |
59.166 |
223.371 |
|
|
|
|
|
|
|
11. |
Net
Profit from Ordinary Activities after Tax (9-10) |
106.042 |
132.114 |
365.204 |
|
|
|
|
|
|
|
12. |
Extraordinary
Item (net of expense) |
-- |
-- |
-- |
|
|
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
106.042 |
132.114 |
365.204 |
|
|
|
|
|
|
|
14. |
Paid-up
Equity Share Capital (Face Value of Rs.10/- Each) |
202.111 |
202.111 |
202.111 |
|
|
|
|
|
|
|
15. |
Reserves
Excluding Revaluation Reserve |
-- |
-- |
-- |
|
|
|
|
|
|
|
16. |
Basic and Diluted Earning Per
Share (EPS) (Rs.)-Not Annualized |
|
|
|
|
|
a)
Basic and diluted EPS before extraordinary items |
1.05 |
1.31 |
3.61 |
|
|
b)
Basic and diluted EPS after extraordinary items |
1.05 |
1.31 |
3.61 |
|
|
|
|
|
|
|
17. |
Public Shareholding |
|
|
|
|
|
-Number
of Shares |
49418749 |
48787195 |
49418749 |
|
|
-
Percentage of Shareholding |
48.90 |
48.28 |
48.90 |
|
|
|
|
|
|
|
18. |
Promoters and Promoter Group
Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
-
Number of Shares |
Nil |
Nil |
Nil |
|
|
- Percentage
of Shares (as a % of the Total Shareholding of promoter and promoter group) |
Nil |
Nil |
Nil |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
-
Number of Shares |
51636643 |
52268197 |
51636643 |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of Promoter and
Promoter Group) |
100% |
100% |
100% |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
51.10 |
51.72 |
51.10 |
|
Particulars |
31.03.2014 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
4 |
|
Disposed of during the quarter |
4 |
|
Remaining unresolved at the end of the
quarter |
Nil |
SEGMENT
WISE REVENUE, RESULTS AND CAPITAL EMPLOYED (STANDALONE) FOR THE YEAR/QUARTER
ENDED ON 31ST MARCH, 2014
Rs. In Millions
|
Sl. No. |
|
Particulars |
Quarter Ended |
Nine Months Ended |
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
||
|
|
Audited
|
Unaudited
|
Audited
|
||
|
1 |
|
Segment Revenue |
|
|
|
|
|
|
Infrastructure and Construction |
4141.041 |
2315.013 |
14049.773 |
|
|
|
Manufacturing |
0.491 |
0.913 |
8.212 |
|
|
|
Unallocated |
783.960 |
662.585 |
1631.219 |
|
|
|
Total |
4925.492 |
2978.511 |
15689.204 |
|
|
|
|
|
|
|
|
|
|
Less : Inter Segment Revenue (Net of Excise) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Net Sales / Income
from Operation |
4925.492 |
2978.511 |
15689.204 |
|
|
|
|
|
|
|
|
2 |
|
Segment Results |
|
|
|
|
|
|
Infrastructure and Construction |
600.457 |
420.911 |
2190.234 |
|
|
|
Manufacturing |
(16.786) |
(18.490) |
(69.961) |
|
|
|
Unallocated |
36.323 |
43.429 |
187.880 |
|
|
|
Total |
619.994 |
445.850 |
2308.153 |
|
|
|
|
|
|
|
|
|
|
Less :Interest |
390.356 |
216.558 |
1535.843 |
|
|
|
Less : Other Unallocable Expenses and Extra Ordinary Items |
50.429 |
38.013 |
183.735 |
|
|
|
Net Profit (+) /
Loss(-) before Tax |
179.209 |
191.279 |
588.575 |
|
|
|
|
|
|
|
|
3 |
|
Capital Employed |
|
|
|
|
|
|
Segment Assets – Segment Liabilities |
|
|
|
|
|
|
Infrastructure and Construction |
4138.556 |
3975.989 |
4138.556 |
|
|
|
Manufacturing |
1271.678 |
1318.285 |
1271.678 |
|
|
|
Unallocated |
1408.681 |
1442.245 |
1408.681 |
|
|
|
Total |
6818.915 |
6736.519 |
6818.915 |
STATEMENT
OF ASSETS AND LIABILITIES
Rs.in Millions
|
PARTICULARS |
31.03.2014 Audited |
|
Equity and liabilities |
|
|
Shareholders' fund |
|
|
Share capital |
202.111 |
|
Reserve & surplus |
6616.805 |
|
Sub-total
- Shareholders' funds |
6818.916 |
|
Non - current liabilities |
|
|
Long term borrowings |
5316.057 |
|
Deferred tax liability (net) |
431.887 |
|
Long term provisions |
0.000 |
|
Sub-total
- Non-current liabilities |
5747.944 |
|
Current liabilities |
|
|
Short term borrowings |
3388.609 |
|
Trade payables |
4946.458 |
|
Other current liabilities |
12140.263 |
|
Short term provisions |
145.524 |
|
Sub-total
- Current liabilities |
20620.854 |
|
|
|
|
Total -
Equity & Liabilities |
33187.714 |
|
|
|
|
Assets |
|
|
Non-current assets |
|
|
Fixed assets |
9215.525 |
|
Capital work in progress |
0.000 |
|
Non-current investment |
47.561 |
|
Long term loans & advances |
713.711 |
|
Other non-current assets |
379.352 |
|
Sub-total
- Non-current Assets |
10356.149 |
|
Current
assets |
|
|
Current investments |
0.000 |
|
Inventories |
6792.348 |
|
Trade receivables |
6474.291 |
|
Cash & bank balances |
1088.749 |
|
Short term loans & advances |
7895.517 |
|
Other current assets |
580.660 |
|
Sub-total
- Current Assets |
22831.565 |
|
|
|
|
Total –
Assets |
33187.714 |
NOTE:
- The Financial statements have been duly reviewed by the Audit
Committee and approved by the Board of Directors at their respective meetings
held on May 27, 2014.
Finance cost includes foreign exchange fluctuation loss of Rs. 236.500 Millions for year ended March 31, 2014 while gain of Rs. 24.900 Millions for the quarter ended March 31, 2014.
Provision for tax has been made as per provisions of section 115JB of the Income Tax Act, 1961. It includes provision for Deferred Tax.
The Company operates in two Segment i.e. Infrastructure Development and Manufacturing and Coating of Saw Pipes. Segment wise reporting is done as per Accounting Standard 17 on Segment Reporting issued by ICAI.
The Board of Directors has recommended a Dividend of 10% i.e. Rs. 0.20 per equity share of Rs. 2 each for the financial year ended March 31, 2014
Previous period's / year figures have been regrouped/restate/reclassified wherever necessary to make them comparable with the current period.
In terms of clause 41(1) (d) of Listing Agreement, the figures of the quarter ended March 31, 2014 are the balancing figures between audited figures in respect of the full financial year ended March 31, 2014 and the published year to date figures upto the third quarter ended December 31, 2013.
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 records 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.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.