MIRA INFORM REPORT
|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SURYA ROSHNI LIMITED |
|
|
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Registered
Office : |
Prakash Nagar, Sankhol, Bahadurgarh -124507, Haryana |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
17.10.1973 |
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Com. Reg. No.: |
05-007543 |
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Capital
Investment / Paid-up Capital : |
Rs. 438.313 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31501HR1973PLC007543 |
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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
: |
Manufacturer and seller of steel and lighting products. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30000000 |
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|
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|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track. The rating reflects SRL’s consistent track record of profitable
operations marked by established brand name with a well-developed nation-wide
marketing network and diversified product profile of the company. Trade relations are reported as fair. Business is active. Payment
terms 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
NEWS
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 I Gate,
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 |
CARE |
|
Rating |
Long term bank facilities = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
September 25,2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A2
+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
September 25,2013 |
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-Cooperative
Contact No.: 91-11-25810093196
LOCATIONS
|
Registered Office / Works-Steel Division : |
Prakash Nagar, Sankhol, Bahadurgarh -124507, Haryana, India |
|
Tel. No.: |
91-1276-241540 / 241980 / 81 / 82 |
|
Fax No.: |
91-1276-241886 |
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E-Mail : |
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Website : |
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WORKS - STEEL DIVISION (MALANPUR) |
Plot No. P-1 to P-20, Ghirongi Industrial Area, Malanpur, District
Bhind, Madhya Pradesh, India |
|
|
|
|
WORKS - LIGHTING DIVISION 1 : |
7k.m. Stone, Kashipur - Moradabad Road, District Udham Singh Nagar,
Kashipur - 244 713, Uttarakhand, India |
|
E-Mail : |
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WORKS - LIGHTING DIVISION 2 : |
J - 7, 8 and 9 Malanpur Industrial Area Malanpur, District Bhind,
Madhya Pradesh, India |
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E-Mail : |
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HEAD OFFICE |
Padma Tower - 1, 5 Rajendra Place, New Delhi - 110 008, India |
|
Tel. No.: |
91-11-25810093-96 |
|
Fax No.: |
91-11-25789560 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. J.P. Agarwal |
|
Designation : |
Chairman |
|
Address : |
|
|
Date of Birth/Age : |
Mr. Raju Bista |
|
Qualification : |
Managing Director |
|
Experience : |
|
|
Date of Appointment : |
Mr. Ravinder Kumar Narang |
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PAN No.: |
Director |
|
Passport No.: |
|
|
Voter ID No.: |
Mr. Utpal Kumar Mukhopadhyay |
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|
Director |
|
Name : |
|
|
Designation : |
Mr. Tara Sankar Bhattacharya |
|
Address : |
Director |
|
Date of Birth/Age : |
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|
Qualification : |
Mr. K. K. Narula |
|
Experience : |
Director |
|
Date of Appointment : |
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PAN No.: |
Mr. Dev Dutt Das |
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Passport No.: |
IDBI Nominee |
|
Voter ID No.: |
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|
Mr. Utkarsh Dwivedi |
|
Name : |
Dy. Managing Director |
|
Designation : |
|
|
Address : |
Mr. Mukesh Tripathi |
|
Date of Birth/Age : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Goyal |
|
Designation : |
Executive Director and Chief Financial Officer |
|
Address : |
|
|
Date of Birth/Age : |
Mr. B. B. Singal |
|
Qualification : |
V.P and 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 |
||
|
|
|
|
|
|
2517839 |
5.74 |
|
|
25538343 |
58.27 |
|
|
28056182 |
64.01 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
28056182 |
64.01 |
|
|
|
|
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
1381 |
0.00 |
|
|
2330 |
0.01 |
|
|
3000 |
0.01 |
|
|
250 |
0.00 |
|
|
6961 |
0.02 |
|
|
|
|
|
|
10458676 |
23.86 |
|
|
|
|
|
|
4739861 |
10.81 |
|
|
342201 |
0.78 |
|
|
227369 |
0.52 |
|
|
150194 |
0.34 |
|
|
76875 |
0.18 |
|
|
300 |
0.00 |
|
|
15768107 |
35.97 |
|
Total Public
shareholding (B) |
15775068 |
35.99 |
|
|
|
|
|
Total (A)+(B) |
43831250 |
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) |
43831250 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and seller of steel and lighting products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
NOTE : LONG TERM
BORROWINGS Term Loans from
Banks are secured by deposit of title deeds relating to immovable assets of
the company and further secured by hypothecation of all company’s movable
assets and personal guarantee of Chairman of the Company. SHORT TERM
BORROWINGS Working Capital
Loans from Banks are secured against hypothecation of present and future
stock of raw material, stock in process, finished goods, spare and stores,
book debts etc., guaranteed by Chairman of the company and further secured by
way of second charge on the company’s Fixed Assets. |
|
|
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|
Banking
Relations : |
-- |
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|
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|
Auditors : |
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|
Name : |
Sastry K. Anandam and Company Chartered Accountants |
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|
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Cost Auditors : |
|
|
Name : |
R. J. Goel and Company Cost Accountants |
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|
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Subsidiary
Company : |
Surya Global Steel Tubes Limited |
|
|
|
|
Other Companies
: |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4‚98‚00‚000 |
Equity Shares |
Rs.10/- each |
Rs. 498.000 Millions |
|
6‚20‚000 |
Preference Shares |
Rs.100/- each |
Rs. 62.000 Millions |
|
|
Total |
|
Rs. 560.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4‚38‚31‚250 |
Equity Shares |
Rs.10/- each |
Rs. 438.313 Millions |
|
|
|
|
|
EQUITY SHARE WARRANTS
Share Warrants of Rs. 27.75/-
paid-up exercisable on or before 29th May, 2012 for one equity share of Rs.
10/- each fully paid-up @ Rs. 111/- per share (since forfeited).
As at 31 March 2013
|
Particulars |
Equity Shares |
Preference Shares |
|
Shares outstanding at the beginning of the year |
4‚38‚31‚250 |
|
|
Shares Issued during the year |
|
|
|
Shares bought back during the year |
|
|
|
Shares outstanding at the end of the year |
4‚38‚31‚250 |
|
Equity Shares in the Company held by each shareholder holding more than
5 percent shares
|
Name of Shareholder |
No. of Shares held |
% of Holding |
|
Lustre Merchants Private Limited |
35‚69‚894 |
8.14 |
|
Diwakar Marketing Private Limited |
43‚00‚000 |
9.81 |
|
Shreyansh Mercantile Private Limited |
28‚30‚000 |
6.46 |
|
Cubitex Marketing Private Limited |
43‚00‚000 |
9.81 |
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 |
438.313 |
438.313 |
438.313 |
|
(b) Reserves & Surplus |
6,884.339 |
6,244.564 |
5,725.251 |
|
(c) Money received against
share warrants |
0.000 |
151.931 |
151.931 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7,322.652 |
6,834.808 |
6,315.495 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3,683.110 |
3,547.604 |
3,376.531 |
|
(b) Deferred tax liabilities
(Net) |
424.356 |
523.334 |
537.943 |
|
(c) Other long term
liabilities |
52.671 |
49.231 |
45.471 |
|
(d) long-term provisions |
175.085 |
128.964 |
123.250 |
|
Total
Non-current Liabilities (3) |
4,335.222 |
4,249.133 |
4,083.195 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4,011.100 |
3,900.639 |
3,285.794 |
|
(b) Trade payables |
745.175 |
755.401 |
460.595 |
|
(c) Other current liabilities |
1,330.393 |
1,037.102 |
1,157.149 |
|
(d) Short-term provisions |
408.464 |
213.200 |
419.782 |
|
Total
Current Liabilities (4) |
6,495.132 |
5,906.342 |
5,323.320 |
|
|
|
|
|
|
TOTAL |
18,153.006 |
16,990.283 |
15,722.010 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8,532.295 |
8,207.581 |
7,745.456 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
259.900 |
378.752 |
322.207 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
500.600 |
501.800 |
502.245 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
9,292.795 |
9,088.133 |
8,569.908 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3,803.127 |
3,774.932 |
3,578.927 |
|
(c) Trade receivables |
4,103.404 |
3,356.349 |
2,699.248 |
|
(d) Cash and cash equivalents |
186.567 |
207.886 |
251.206 |
|
(e) Short-term loans and
advances |
702.782 |
509.770 |
567.794 |
|
(f) Other current assets |
64.331 |
53.213 |
54.927 |
|
Total
Current Assets |
8,860.211 |
7,902.150 |
7,152.102 |
|
|
|
|
|
|
TOTAL |
18,153.006 |
16,990.283 |
15,722.010 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
29,590.275 |
25,544.442 |
22,168.149 |
|
|
Other Income |
16.271 |
8.962 |
4.850 |
|
|
TOTAL
(A) |
29,606.546 |
25,553.404 |
22,172.999 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
20,742.055 |
17,935.127 |
16,017.831 |
|
|
Purchases of Stock-in-Trade |
1,452.982 |
1,568.439 |
1,094.358 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
310.055 |
(2.447) |
(717.322) |
|
|
Employees benefits expense |
1,346.857 |
1,264.955 |
1,155.007 |
|
|
Other expenses |
3,371.987 |
2,819.949 |
2,803.840 |
|
|
TOTAL
(B) |
27,223.936 |
23,586.023 |
20,353.714 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2,382.610 |
1,967.381 |
1,819.285 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1,096.721 |
938.189 |
605.396 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1,285.889 |
1,029.192 |
1,213.889 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
565.115 |
473.079 |
512.362 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
720.774 |
556.113 |
701.527 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
28.323 |
36.300 |
34.171 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
692.451 |
519.813 |
667.356 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
80.000 |
70.000 |
70.000 |
|
|
Dividend |
51.300 |
0.000 |
65.700 |
|
|
Tax on Distributed Profits |
152.800 |
0.000 |
10.600 |
|
|
Total
|
284.100 |
70.000 |
146.300 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
408.351 |
449.813 |
521.056 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3,703.424 |
3,116.887 |
2,541.319 |
|
|
TOTAL
EARNINGS |
3,703.424 |
3,116.887 |
2,541.319 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials and purchases
for trading |
1,872.311 |
1,780.672 |
1,415.623 |
|
|
Components and Stores parts |
8.327 |
17.807 |
38.056 |
|
|
Capital Goods |
80.326 |
67.208 |
126.195 |
|
|
TOTAL
IMPORTS |
1,960.964 |
1,865.687 |
1,579.874 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
15.800 |
11.860 |
19.130 |
QUARTERLY
|
Particulars |
30.06.2013 |
30.09.2013 |
31.12.2013 |
31.03.2014 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
7085.300 |
7780.000 |
7669.300 |
7775.100 |
|
Total Expenditure |
6542.500 |
7233.200 |
7039.200 |
7158.300 |
|
PBIDT (Excl OI) |
542.800 |
546.800 |
630.100 |
616.800 |
|
Other Income |
2.400 |
3.000 |
2.400 |
28.100 |
|
Operating Profit |
545.200 |
549.800 |
632.500 |
644.900 |
|
Interest |
246.900 |
246.000 |
274.300 |
377.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
298.300 |
303.800 |
358.200 |
267.400 |
|
Depreciation |
137.800 |
138.500 |
139.000 |
141.100 |
|
Profit Before Tax |
160.500 |
165.300 |
219.200 |
126.300 |
|
Tax |
18.600 |
20.800 |
73.800 |
24.500 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
141.900 |
144.500 |
145.400 |
101.800 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
141.900 |
144.500 |
145.400 |
101.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.34 |
2.03 |
3.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.44 |
2.18 |
3.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
4.14 |
3.45 |
4.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.08 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.05 |
1.09 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.34 |
1.34 |
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 |
438.313 |
438.313 |
438.313 |
|
Reserves & Surplus |
5,725.251 |
6,244.564 |
6,884.339 |
|
Money received against share
warrants |
151.931 |
151.931 |
0.000 |
|
Net
worth |
6,315.495 |
6,834.808 |
7,322.652 |
|
|
|
|
|
|
long-term borrowings |
3,376.531 |
3,547.604 |
3,683.110 |
|
Short term borrowings |
3,285.794 |
3,900.639 |
4,011.100 |
|
Total
borrowings |
6,662.325 |
7,448.243 |
7,694.210 |
|
Debt/Equity
ratio |
1.055 |
1.090 |
1.051 |
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) |
|
Revenue from operations |
22,168.149 |
25,544.442 |
29,590.275 |
|
|
|
15.230 |
15.838 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
22,168.149 |
25,544.442 |
29,590.275 |
|
Profit/(Loss) After Tax |
667.356 |
519.813 |
692.451 |
|
|
3.01% |
2.03% |
2.34% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check
List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year
of Establishment |
Yes |
|
2] |
Locality
of the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
No |
|
8] |
No.
of employees |
No |
|
9] |
Name
of person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export
/ Import details (if applicable) |
No |
|
21] |
Market
information |
-- |
|
22] |
Litigations
that the firm / promoter involved in |
Yes |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
-- |
|
26] |
Buyer
visit details |
-- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
No |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN
of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
LITIGATION DETAILS
|
IN THE HIGH COURT OF DELHI AT NEW DELHI Fresh summons
be issued against defendant No.2, returnable on 25.08.2014.
|
UNSECURED
LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans |
|
|
|
from banks |
649.822 |
549.685 |
|
Deposits |
|
|
|
Public Deposits |
651.468 |
501.604 |
|
Inter-Corporate Deposits |
47.500 |
70.000 |
|
|
|
|
|
Total |
1348.790 |
1121.289 |
FINANCIAL AND
OPERATIONAL PERFORMANCE
In the fiscal
year, the revenue from operations of the Company increased to Rs.29590.300
Millions from Rs.25544.400 Millions last year, registering an increase of
15.84%. The Profit After Tax is increased to Rs. 692.500 Millions as compared
to Rs. 519.800 Millions last year registering a growth of 33.22% during this
period.
FUTURE PROSPECTS
STEEL DIVISION
India has become
the global pipe manufacturing hub primarily due to the benefits of its low
costs, higher quality and geographical advantages. The global accreditations
and certifications that the Indian companies possess have made them preferred
suppliers for many leading oil and gas companies in the world and particularly
those in Middle East, North America and Europe. The expanding infrastructure,
oil and gas and construction sectors have been the main growth drivers for
steel industry that includes steel pipes.
Surya, the largest
GI Pipe Manufacturer in India understands in-dept the needs of its customers
which guide it in adapting its technology to suit their new requirements and
thus producing ½” – 100” Dia- Pipe for agriculture, household and Oil and Gas
Sector .It produces API Pipes for India and for Exports and currently
introduced Section Pipes in Steel Range to increase the product Basket to
achieve higher market share.
Surya Group has
set up a modern large Pipe Manufacturing plant at Anjar in Bhuj (Gujarat) to
produce Spiral Weld pipes in the range from 18” to 100” with maximum wall
thickness of 1” (25.4mm) conforming to API / ASTM specifications upto AP15L,
Gr. X80. The Plant is also equipped with five machines to produce ERW pipes in
a range ½” to 16” in various specifications with a capacity of 2, 00,000 MT.
The estimated
turnover from this plant is Rs. 20000.000 Millions. The group would be
contributing to the growth of the economy in the state and would generate
employment to more people.
LIGHTING DIVISION
Lighting is always
a prime necessity in the modern world. With the increase in residential houses,
the demand for lighting and consequently the lighting industries are growing at
tremendous pace. With growing demand for lighting products, the Lighting
industry is on a strong wicket.
Surya Roshni
brings brightness to many homes every evening in over 48 countries across the
globe as it has an exhaustive range of luminaries and accessories to meet the
requirements of every segment of the society.
Surya have
re-aligned its product focus on CFL lighting and new age LED lighting
solutions. India, being home to the largest working population is witnessing a
surge in office lighting and home lighting solutions. Through whole hearted
efforts and better commitment at all levels and having large distributor
strength across pan - India, we at Surya will be provide a more healthy growth
and profitability in the years to come.
LUMINAIRE BUSINESS
GROUP
“ LBG in the FY
2012-13 has now established a very sustainable and profitable growth in
comparison with previous years. A marked improvement in establishing Industry
and Government Business oriented dealers in SURYA Branded products now helped
us distribute our wide range to all the states and electrical distribution
companies. This has resulted into a better spread and acceptability of SURYA
Brand beyond Trade volumes as well in the year just ended. This profitable
growth is achieved despite the fact that Indian economy was showing signs of
sluggishness throughout the year.
The newly launched
Energy efficient Luminaires in LED Segment has resulted into a very favorable
response by the industrial and utility companies. Company as a principle has decided
to develop and promote GREEN LED Products in the years to come which help our
Nation save energy. Someone has wisely said “ A watt saved is Watt generated”
in the energy deficient Indian economy.
The new exciting
Luminaire Range in the Top of the Line using Best in Class LEDs from world
leader like Nitchia is a hallmark of their Industrial products and are well
received by the Consumers. A program of in-house manufacture of the Lighting
Electronic in their Kashipur Plant has made them self-reliant apart from
ensuring credible quality to their every consumer.
The New Year Focus
shall be to educate and promote only energy efficiency and drive LED products
wherever application warrants to help safeguard Longevity and Energy Efficiency
to drive competitive advantages for their channel partners.
LBG is now on the
threshold of taking a Quantum leap in the Non-Trade Business segment in the
year 2013-14”
RESEARCH AND
DEVELOPMENT CENTRE
Electric light,
once considered as night time substitute for day light, becomes 24x365 hours
companion in all of human activities. It has helped significantly to expand
range and time of human activities. With this expansion of uses, lighting
energy use has become one of the major uses of energy in the country. Hence
search is on for greater lighting efficiency. Proper lighting can enhance task
performance, improve the appearance of an area, or have positive psychological
effects on occupants.
Surya being a
leader of lighting industry in India has conclusively embarked upon to bring
the revolution in the world of lighting by setting up the state of the art of
lighting laboratory and research centre Surya Technology and Research Centre
(STIC).
STIC is equipped
with the most advanced photometric laboratory which houses High Speed automatic
Mirror Gonio-photometer from LMT Germany-undoubtedly the best equipment
available for light measurement & optical evaluation for conventional
Lighting System as well as LED and Induction Lighting System.
Apart from
photometric laboratory, STIC have Environmental, Electrical, Electronic,
Thermal and Mechanical laboratory-all are equipment are associated with
Computers, for the prediction, evaluation of mechanical, electrical, thermal
and environmental behavior of the Lighting product.
The Test facility
is capable of testing the Lamps and Luminaires as per requirements of related
Indian International Standards. All testing and measurement Instruments are in
consideration with the Latest Technology and highest accuracy, for the
repeatability of the measurements.
In last one year
we had been instrumental at STIC Noida for creating LED product portfolio for
both indoor and outdoor application.
Since any LED
system is solid state lighting (SSL) which necessarily incorporate major
contribution from lighting electronics design in conjunction with thermal,
optics and mechanical/Luminaire design.
For this we had
created self-sustaining and self-reliant capabilities both in terms of adequate
human resource and equipments at STIC Noida, for LED products Design and
Development.
With all the above
up-gradation, it is establish fact that today STIC Noida facility is one of the
pioneer facility for LED products Design and Development in India. The same has
been acknowledged by National and International, renowned lighting bodies.
STIC has been
recognized as an R and D centre by DSIR (Department of Scientific and
Industrial research, Ministry of Science and Technology) and also it has been listed
as one of the best testing laboratories in India by BEE (Bureau of Energy
Efficiency), for the measurement complying BIS Standard/ International Standard
of LED lighting system. Last but not least STIC is a Green Building with LEED
Platinum certification and Process of accreditation is going on. With all this
Surya is proliferating with the development of the most energy efficient
environment friendly lighting products as well as Providing design guidance
‘how to use it scientifically and aesthetically’ through its innovation in
lighting design a new dimension to lighting practice, leading to evolve “Green
India”.
MANAGEMENT
DISCUSSION AND ANALYSIS
The road to
sustained growth is steep and challenging at each step. While some would take
the shorter routes for growth, Surya believe success achieved thus doesn’t
result in longterm impact. 39 years ago we embarked on this journey and today
Surya Roshni is seen as a big Conglomerate with diverse businesses with units
in different states. Each business was built with dedication and focus and
going by the numbers, we sure have been successful in delivering what we set
out for.
The company’s core
business comprises of lighting and steel tube products. They became the first
lighting company in India to introduce energy-efficient lighting solutions and
further continued to build their portfolio and brand in an overtly competitive
market. SURYA competitively positioned today over its rivals and has become
prominent brand in the consumer market due to the following factors –
• Largest ERW Pipe
and Cold Rolled Strips Mills at Bahadurgarh, Haryana
• High Mast and
ERW pipe Manufacturing unit at Malanpur, MP.
• Introduce Square
and Section pipes in steel and thus increases its product Basket and achieved
higher market share.
• Asia largest
ribbon glass plant from Dema Glass UK at Gwalior, MP
• Surya is the
only lighting company with 100 per cent backward integration. It manufactures
all its components.
• Today, Surya is
the second largest seller of GLS and FTL in India.
• State-of-the-art
lighting laboratory in Noida that is one of the best lighting laboratories in
Asia -Surya Technology and Innovation Centre (STIC). STIC has been recognized
as an R and D centre by DSIR, Ministry of Science and Technology. Listed as one
of the best testing laboratories in India by BEE (Bureau of Energy Efficiency)
LED lighting system.
• Surya, has an
international presence in more than 48 countries.
• Surya, offered a
vast range of product line - up including Tube Lights, GLS, CFL Lamps, wide
range of LED’s, HPSV / Metal Halide Lamps, Street Lighting and High Mast etc
and thereby participate in the growing infrastructure sector.
• To complement
its foray in luminaire segment, Surya Roshni has set up with state-of-the-art
manufacturing facility for High Mast Lighting Systems and Octagonal Poles.
Quality has always
been the driving force in every process from the raw material stage to the
finished product at Surya. Their commitment to deliver world-class solutions to
our clients in the shortest time lag enabled us to establish presence across
two corners of India and globally, leading to improved customer relationship.
By being cost
effective without compromising on quality, the company has become a leader in Steel
pipes industry and the second largest lighting company in India. The company’s
processes are certified under ISO 9001:2008 Quality Management Systems
Standard, ISO 14001:2004 Environmental Management Systems Standards and OHSAS
18001:2007 Occupational Health and Safety Management System Standard. Surya has
also obtained 5 star rating for fluorescent tube lamps from Bureau of Energy
Efficiency, India. Surya GLS also conforms to prestigious European safety
standards - “CE” and TUV Bauart. At Surya, we utilized the tough times to
strengthen their operations and thereby setting a grander stage for a promising
future.
INDUSTRY
STRUCTURE, DEVELOPMENT AND OUTLOOK
OUTLOOK FOR STEEL
PIPES
India has become
the global pipe manufacturing hub primarily due to the benefits of its lower
cost, high quality and geographical advantages. The global accreditations and
certifications that the Indian companies possess have made them preferred
suppliers for many leading oil and gas companies in the world and particularly
those in Middle East, North America and Europe. Since the global economy
returned to sustained growth, the domestic pipe industry is expected to
accelerate into high growth trajectory. Their demand forecasting is derived
from several upcoming pipeline projects expected in India and other countries
along with the normal demand for replacement of existing pipe lines. The
expanding infrastructure, oil and gas and construction sectors have been the
main growth drivers for steel industry that includes steel pipes.
Surya, understands
in-depth the needs of its customers which guide it in adapting its technology
to suit their new requirements and thus is the largest GI Pipe Manufacturer in
India producing ½” – 100” Dia- Pipe for agriculture, household and Oil and Gas
Sector .It produces API Pipes for India and for Exports and currently
introduced Section Pipes in Steel Range to increase the product Basket and get
higher market share. Currently, the pipe division produces nearly 0.800 Million
MT per annum in both galvanized and black varieties, in sizes ranging from 15mm
NB to 400mm NB and in various specifications. The large diameter pipes of 100mm
and above are made in grades like API 5L grades A and B as well as 5LX42, X46,
X52, X56, X60, X65 and X70 (American Petroleum Institute).
The transportation
and distribution of gas widely used for domestic and commercial purposes have
undergone a sea change with the gas and oil being conveyed through steel
pipelines over long distances. The surging demand based on several ongoing
natural gas pipeline projects in India will surely boost the demand for steel
pipes.
The increased
emphasis and thrust given by the Government on infrastructure and hosing
sectors and in particular improving water management and urban amenities, steel
pipes have emerged as the most reliable, cost efficient and durable option
which will again benefit the pipe industry. Mention must be made of the several
initiatives taken by the Indian government to make available basic water supply
and sanitation over large parts of the country. Along with the focus on oil and
gas sector, these initiatives serve as a big boost to the pipe industry as a
whole.
OUTLOOK FOR
LIGHTING INDUSTRY
Lighting is always
a prime necessity in the modern world. It is an important component in the
industrial growth of a country and vital at the domestic front for a good
living. With the increase in residential houses, the demand for lighting and
consequently the lighting industries are growing at tremendous pace. With a
general improvement in the power condition both in urban and rural areas and
anticipated increase in spending on infrastructure development both in public
and private sectors in the coming years, the demand of regular lighting
products is expected to increase by leaps and bounds.
Surya Roshni
brings brightness to many homes every evening in over 48 countries across the
globe. Surya Roshni is one among the large producers in the fi eld of light
source and its components in India and has played the role of a technology leader
by establishing new benchmarks for the industry. As a leader in the area of
lighting equipments, Surya Roshni has been providing innovative and safe
lighting equipments to its customers and became the first lighting company in
India to introduce energy efficient lighting solutions.
Surya Roshni
create landmark in Lighting Industry by adding in its product portfolio LED
Bulb for 5W and 7W replacing 40w and 60w incandescent lamp.LED Bulb of Surya
Roshni Limited has long life (up to 50,000 hours), wide range of operating
voltage (110v – 300v), free of mercury and substantial energy savings. LED
Luminaire series consist of a wider basket of luminaries catering to different
applications for indoor or outdoor illumination. Surya, wide range of world
class energy effi cient lamps, T5 lamps, Fluorscent lamps, high pressure sodium
and mercury lamps, metal halides lamps to name a few are manufactured at
state-of-the-art units with top of the line machinery and equipments (from
FALMA-Montena S.A., Switzerland,DEMA engineering UK.GE-Hungary) to benchmarked
processes and practices. Surya Roshni has instituted a culture of continuous
quality upgradation and a strong system to ensure that the quality meets
international benchmark.
Surya Roshni has
an exhaustive range of luminaires and accessories to meet the requirement of
every segment of professional lighting that includes domestic, industrial,
designer, commercial, street lights besides LEDs. Products are designed and
developed after extensive in house research ensuring thereby high standards of
quality. To complement its foray in luminaire segment, Surya Roshni has set up
with state-of-theart manufacturing facility for High Mast Lighting Systems and
Octagonal Poles.
Apart for light
source manufacturing, Surya Roshni has also been a leading manufacturer of
various lamps’ components since last two decades and well known as quality lamp
component supplier from India.
Surya Roshni has
set-up state-of-the-art lighting laboratory in NOIDA that is one of the best
lighting laboratories in Asia. It has house the Mirror Gonio-photometer from
LMT-Germany and is used for developing new generation energy saving luminaries.
In addition to this, Surya will provide Photometric Optical Testing facility
for all kinds of luminaries.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10484842 |
19/03/2014 |
200,000,000.00 |
PUNJAB NATIONAL
BANK |
28A, K.G. MARG, ECE
HOUSE, NEW DELHI - 110001, INDIA |
C00494963 |
|
2 |
10477197 |
30/01/2014 |
500,000,000.00 |
STATE BANK OF
TRAVANCORE |
COMMERCIAL
BRANCH, TRAVANCORE HOUSE, K. G. MARG, NEW DELHI - 110001, INDIA |
B96184684 |
|
3 |
10480426 |
11/01/2014 |
1,030,000,000.00 |
CANARA BANK |
269, 270 FRUIT
AND VEG. MARKET, OKHLA INDUSTRIAL ESTATE, NEW DELHI - 110020, INDIA |
B97530984 |
|
4 |
10460677 |
29/11/2013 * |
1,236,390,000.00 |
STATE BANK OF
INDIA |
SPECIALISED COMMERCIAL
BRANCH, SCO 103-106, SECTOR-17-B, CHANDIGARH- 160017, CHANDIGARH, INDIA |
B94677275 |
|
5 |
10453097 |
07/10/2013 |
300,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR-21, WORLD TRADE CENTRE |
B86664281 |
|
6 |
10453588 |
26/09/2013 |
200,000,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
3RD FLOOR, A-SET
HOUSE, 7/56, DESH BANDHU GUPTA ROAD, KAROL BAGH,, NEW DELHI - 110005, INDIA |
B86890555 |
|
7 |
10448449 |
30/08/2013 |
250,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
PVR BUILDING,
NARAINA INDUSTRIAL ESTATE, NEW DELHI – 110028, INDIA |
B84741511 |
|
8 |
10421251 |
31/08/2013 * |
722,200,000.00 |
STATE BANK OF
INDIA |
SPECIALISED COMMERCIAL
BRANCH, SCO 103-106, SECTOR-17-B, CHANDIGARH - 160017, CHANDIGARH, INDIA |
B84268010 |
|
9 |
10417318 |
31/08/2013 * |
758,400,000.00 |
STATE BANK OF
INDIA |
SPECIAL
COMMERCIAL BRANCH, SCO 103-106, SECTOR - 17B, CHANDIGARH - 160017, CHANDIGARH,
INDIA |
B84276047 |
|
10 |
10337222 |
25/06/2012 * |
200,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
GROUND FLOOR,
VIDEOCON TOWER, E-1, RANI JHANSI ROAD, JHANDEWALAN EXTENSION, NEW DELHI -
110055, INDIA |
B43614916 |
* Date of charge modification
FIXED ASSET
- Land Freehold
- Land under lease
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office equipment
- Air Conditioner and Coolers
- Temporary Construction
- Electric Equipments
- Miscellaneous Assets
- Computer
UNAUDITED/ AUDITED
FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED ON 31ST MARCH 2014
(Rs. In Millions)
|
PARTICULARS |
3 Months Ended |
Year Ended |
||
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
(Unaudited) |
(Unaudited) |
(Audited) |
|
|
1 |
Income from
operations |
|
|
|
|
|
(a) Net Sales/Income from operations |
|
|
|
|
|
Gross Sales |
8307.300 |
8251.300 |
32501.600 |
|
|
Less : Excise Duty |
532.200 |
582.000 |
2191.900 |
|
|
Net Sales/Income from operations |
7775.100 |
7669.300 |
30309.700 |
|
|
(b) Other Operating Income |
-- |
---- |
--- |
|
|
Total income from
operations(net) |
7775.100 |
7669.300 |
30309.700 |
|
2 |
Expenses |
|
|
|
|
|
(a) Cost of materials consumed |
5359.600 |
5705.600 |
21846.900 |
|
|
(b) Purchases of stock-in-trade |
347.000 |
331.800 |
1437.900 |
|
|
(c ) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
29.600 |
(328.700) |
(624.500) |
|
|
(d) Employee benefits expenses |
453.300 |
363.900 |
1510.600 |
|
|
(e) Depreciation and amortisation expense |
141.100 |
139.000 |
556.400 |
|
|
(f) Other expenses |
968.800 |
966.600 |
3802.300 |
|
|
Total Expenses |
7299.400 |
7178.200 |
28529.600 |
|
3 |
Profit/(Loss) from operations
before other income, finance costs and exceptional items(1-2) |
475.700 |
491.100 |
1780.100 |
|
4 |
Other Income |
28.100 |
2.400 |
35.900 |
|
5 |
Profit/(Loss) from
ordinary activities before finance costs and exceptional items(3+4) |
503.800 |
493.500 |
1816.000 |
|
6 |
Finance costs |
377.500 |
274.300 |
1144.700 |
|
7 |
Profit/(Loss) from
ordinary activities after finance costs but before exceptional items(5-6) |
126.300 |
219.200 |
671.300 |
|
8 |
Exceptional Items |
-- |
---- |
--- |
|
9 |
Profit/(Loss) from
ordinary activities before tax(7+8) |
126.300 |
219.200 |
671.300 |
|
10 |
Tax Expenses |
|
|
|
|
|
Current Tax |
(23.600) |
65.400 |
78.600 |
|
|
Differed Tax |
48.100 |
8.400 |
59.100 |
|
11 |
Net Profit/(Loss) from
ordinary activities after tax |
101.800 |
145.400 |
533.600 |
|
12 |
Extraordinary items (net of tax expenses) |
-- |
---- |
--- |
|
13 |
Net Profit/(Loss)
for the period (11+12) |
101.800 |
145.400 |
533.600 |
|
14 |
Share of Profit / (loss) of associates |
-- |
---- |
--- |
|
15 |
Minority Interest |
-- |
---- |
--- |
|
16. |
Net Profit/(Loss)
after taxes, minority interest and share of profit/(loss) of associates
(13+14+15). |
101.800 |
145.400 |
533.600 |
|
17 |
Paid up - Equity Share Capital (FacevalueRe.10/-per share) |
438.300 |
438.300 |
438.300 |
|
18 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting year |
--- |
--- |
5506.700 |
|
19.i |
Earning per share (before extraordinary items) (of Rs. each) (not annualised)( in Rs. Per share) |
|
|
|
|
|
a) Basic |
2.31 |
3.32 |
12.17 |
|
|
b) Diluted |
2.31 |
3.32 |
12.17 |
|
19.ii |
Earning per share (after extraordinary items) (of Rs. each) (not annualised)( in Rs. Per share) |
|
|
|
|
|
a) Basic |
2.31 |
3.32 |
12.17 |
|
|
b) Diluted |
2.31 |
3.32 |
12.17 |
SELECT INFORMATION
FOR THE QUARTER AND YEAR MONTHS ENDED ON 31ST MARCH, 2014
|
A. PARTICULARS OF
SHARE HOLDING |
3 Months Ended |
Year Ended |
||
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
(Unaudited) |
(Unaudited) |
(Audited) |
|
1 |
Public shareholding |
|
|
|
|
|
No. of shares |
15775068 |
15775068 |
15775068 |
|
|
Percentage of Holding |
35.99% |
35.99% |
35.99% |
|
2 |
Promoters and
Promoters group shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
- Number of shares |
--- |
--- |
--- |
|
|
- Percentage of shares(as a % of the total shareholding of promoter and promoter group) |
--- |
--- |
--- |
|
|
- Percentage of shares(as a % of the total share capital of the Company) |
--- |
--- |
--- |
|
|
b) Non-encumbered |
|
|
|
|
|
- Number of shares |
28056182 |
28056182 |
28056182 |
|
|
- Percentage of shares(as a % of the total shareholding of promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
|
- Percentage of shares(as a % of the total share capital of the Company) |
64.01% |
64.01% |
64.01% |
|
|
Particulars |
3 Months Ended 31.03.2014 |
|
B. |
INVESTOR COMPLAINTS |
|
|
|
Pending at the beginning of the year |
Nil |
|
|
Received during the year |
Nil |
|
|
Disposed of during the year |
Nil |
|
|
Remaining unresolved at the end of the year |
Nil |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
|
PARTICULARS |
3 Months Ended |
Year Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
(Unaudited) |
(Unaudited) |
(Audited) |
|
1 |
Segment Revenue |
|
|
|
|
|
(a) Steel Products |
6126.700 |
5101.200 |
21243.900 |
|
|
(b) Lighting Products |
2180.600 |
3150.100 |
11257.700 |
|
|
Total Segment
Revenue |
8307.300 |
8251.300 |
32501.600 |
|
|
Less : Inter segment Revenue |
-- |
-- |
-- |
|
|
Less: Excise Duty |
532.200 |
582.000 |
2191.900 |
|
|
Net Sales/Income
from operations |
7775.100 |
7669.300 |
30309.700 |
|
2 |
Segment Results (Profit/(loss)
before tax and interest from each segment) |
|
|
|
|
|
(a) Steel Products |
171.100 |
210.000 |
730.100 |
|
|
(b) Lighting Products |
332.700 |
283.500 |
1085.900 |
|
|
Total |
503.800 |
493.500 |
1816.000 |
|
|
Less: (i) Finance Cost |
377.500 |
274.300 |
1144.700 |
|
|
(ii) Other unallocable expenditure net off |
-- |
-- |
-- |
|
|
(iii) unallocable income |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Total Profit before
tax |
126.300 |
219.200 |
671.300 |
|
3 |
Capital Employed (Segment Assets less
Segment Liabilities) |
|
|
|
|
|
(a) Steel Products |
11628.100 |
10416.700 |
11628.100 |
|
|
(b) Lighting Products |
6105.700 |
5493.600 |
6105.700 |
|
|
TOTAL |
17733.800 |
15910.300 |
17733.800 |
STATEMENT OF ASSETS AND LIABILITIES
(Rs. In Millions)
|
|
Particulars |
As at 31.03.2014 |
|
|
Audited |
|
|
A |
EQUITY AND
LIABILITIES |
|
|
(1) |
Shareholders' funds |
|
|
|
(a) Share capital |
438.300 |
|
|
(b) Reserves and surplus |
7300.800 |
|
|
(c) Money received against share warrants |
-- |
|
|
Sub-total-Shareholders' funds |
7739.100 |
|
(2) |
Share application money pending allotment |
-- |
|
(3) |
Minority interest |
-- |
|
(4) |
Non-current
liabilities |
|
|
|
(a) Long-term borrowings |
4009.700 |
|
|
(b) Deferred tax liabilities (Net) |
483.500 |
|
|
(c) Other Long term liabilities |
58.000 |
|
|
(d) Long-term provisions |
171.100 |
|
|
Sub-total-Non-current
liabilities |
4722.300 |
|
|
|
|
|
(5) |
Current liabilities |
|
|
|
(a) Short-term borrowings |
5501.500 |
|
|
(b) Trade payables |
1158.300 |
|
|
(c) Other current liabilities |
1161.500 |
|
|
(d) Short-term provisions |
424.600 |
|
|
Sub-total-current
liabilities |
8245.900 |
|
|
|
|
|
|
TOTAL -EQUITYAND
LIABILITIES |
20707.300 |
|
|
|
|
|
B. |
ASSETS |
|
|
(1) |
Non-current assets |
|
|
|
(a) Fixed assets |
9655.700 |
|
|
(b) Goodwill on consolidation |
--- |
|
|
(c) Non-current investments |
500.000 |
|
|
(d) Deferred tax assets (net) |
--- |
|
|
(e) Long-term loans and advances |
--- |
|
|
(f) Other non-current assets |
--- |
|
|
Sub-total-Non-current
Assets |
10155.700 |
|
|
|
|
|
(2) |
Current assets |
|
|
|
(a) Current investments |
-- |
|
|
(b) Inventories |
4331.300 |
|
|
(c) Trade receivables |
4965.800 |
|
|
(d) Cash and Bank Balances |
246.900 |
|
|
(e) Short-term loans and advances |
940.300 |
|
|
(f) Other current assets |
67.300 |
|
|
Sub-total-Current
Assets |
10551.600 |
|
|
|
|
|
|
TOTAL -ASSETS |
20707.300 |
NOTES:
- The above results have been reviewed by the Audit Committee and have been approved by the Board of Directors of the Company at the meeting held on 30th May, 2014.
- The figure of last quarter are the balancing figure between audited figures in respect of the full financial year and the published year to date figures upto third quarter of the current year.
- Dividend @Re. 1/- per equity shares of Rs. 10/- each has been recommended subject to approval of shareholders in the ensuing Annual General Meeting.
- As at 31.03.2014, Company has no subsidiary.
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 records 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 asses 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.60.09 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
54 |
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.