1. Summary Information
|
Country |
India |
||
|
Company Name |
KALINDEE RAIL NIRMAN ENGINEERS LIMITED |
Principal Name 1 |
Mr. Ram Dayal Sharma |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Mahendra Kumar Khanna |
|
Registration # |
55-114336 |
||
|
Street Address |
F-5 Gautam
Nagar, Gulmohar Park Road, New Delhi – 110049, Delhi |
||
|
Established Date |
15.02.1984 |
SIC Code |
-- |
|
Telephone# |
91-11-26857375 |
Business Style 1 |
Construction |
|
Fax # |
91-11-26851279 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Building infrastructure for Rail
Transport |
|
|
# of employees |
Not Divulged |
Product Name 2 |
-- |
|
Paid up capital |
Rs.123,972,000/- |
Product Name 3 |
-- |
|
Shareholders |
Shareholding of
Promoter and Promoter Group - 49.13% Public
Shareholding - 50.87% |
Banking |
ICICI Bank
Limited |
|
Public Limited Corp. |
Yes |
Business Period |
30 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba
(50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,107,108,000 |
Current Liabilities |
446,252,000 |
|
Inventories |
844,131,000 |
Long-term Liabilities |
1,083,477,000 |
|
Fixed Assets |
179,980,000 |
Other Liabilities |
75,750,000 |
|
Deferred Assets |
000 |
Total Liabilities |
1,605,479,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
1,401,768,000 |
|
|
|
Net Worth |
1,525,740,000 |
|
Total Assets |
3,131,219,000 |
Total Liab. & Equity |
3,131,219,000 |
|
Total Assets (Previous Year) |
2,805,701,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Total Revenue |
2,572,221,000 |
Net Profit |
80,944,000 |
|
Total Revenue (Previous yr) |
2,443,311,000 |
Net Profit(Prev.yr) |
76,825,000 |
MIRA INFORM REPORT
|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KALINDEE RAIL NIRMAN ENGINEERS LIMITED (w.e.f. 27.02.2002) |
|
|
|
|
Formerly Known
As : |
NETLINK COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-5 Gautam Nagar, Gulmohar Park Road, New Delhi – 110049, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.02.1984 |
|
|
|
|
Com. Reg. No.: |
55-114336 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.123.972 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L64120DL1984PLC114336 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK6371P |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is a construction company dedicated to building
infrastructure for Rail Transport under one roof on turn key basis. It has
been active in fields of Signaling, Telecommunications, Track and Information
Systems. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct as per commitments. The company can be considered normal for the business dealing 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
19.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
19.08.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management Non Co-operative
Contact No.: 91-124-4614800
LOCATIONS
|
Registered Office : |
F-5 Gautam Nagar, Gulmohar Park Road, New Delhi – 110049, Delhi, India
|
|
Tel. No.: |
91-11-26857375 |
|
Fax No.: |
91-11-26851279 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
2nd Floor, Building No: 9A, Cyber City,
DLF Phase-III, Gurgaon – 122002 Haryana, India |
|
Tel. No.: |
91-124-4674800, 4218522 |
|
Fax No.: |
91-124-4674887, 4674888 |
|
E-Mail : |
|
|
|
|
|
Branches / Project Office : |
Located At
|
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Ram Dayal Sharma |
|
Designation : |
Managing director |
|
Address : |
B-12/7, DLF Phase – I, Gurgaon, Haryana,
India |
|
Date of Birth/Age : |
06.11.1935 |
|
Date of Appointment : |
15.02.1984 |
|
DIN No.: |
00232077 |
|
Voter ID No.: |
HVV2816064 |
|
|
|
|
Name : |
Mrs. Shanti Narain |
|
Designation : |
Director |
|
Date of Appointment : |
20.06.2003 |
|
DIN No.: |
00233438 |
|
|
|
|
Name : |
Mr. Suresh Kumar Khanna |
|
Designation : |
Director |
|
Date of Appointment : |
10.09.2002 |
|
DIN No.: |
00233505 |
|
|
|
|
Name : |
Mrs. Kalpana Gemini |
|
Designation : |
Whole-time director |
|
Address : |
F-5 Gautam Nagar, Gulmohar Park Road, New Delhi – 110049, Delhi, India |
|
Date of Birth/Age : |
11.02.1968 |
|
Date of Appointment : |
20.07.2012 |
|
DIN No.: |
02415685 |
|
|
|
|
Name : |
Mr. Kamal Kishore Agarwal |
|
Designation : |
Director |
|
Date of Appointment : |
28.04.2009 |
|
DIN No.: |
02655349 |
|
Name : |
Mr. Mahendra Kumar Khanna |
|
Designation : |
Director |
|
Address : |
C-41, Hari Marg, Malviya Nagar, Jaipur – 302017, Rajasthan, India |
|
Date of Birth/Age : |
08.08.1945 |
|
Date of Appointment : |
29.04.2011 |
|
DIN No. : |
03509134 |
|
|
|
|
Name : |
Mrs. Sunita Gemini |
|
Designation : |
Whole-time director |
|
Date of Appointment : |
20.07.2012 |
|
DIN No. : |
03516990 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Sharma |
|
Designation : |
Secretary |
|
Address : |
329, Adarsh Nagar, opposite Happy Nurshing homes, Jaipur – 302016,
Rajasthan, India |
|
Date of Birth/Age : |
15.02.1965 |
|
PAN No.: |
AGWPS0255R |
|
Date of Appointment : |
11.07.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2013
|
Category of Shareholder |
Total No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
1383694 |
8.38 |
|
|
6726484 |
40.75 |
|
|
8110178 |
49.13 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
8110178 |
49.13 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
10747 |
0.07 |
|
|
28066 |
0.17 |
|
|
18638 |
0.11 |
|
|
57451 |
0.35 |
|
|
|
|
|
|
1424334 |
8.63 |
|
|
|
|
|
|
5812001 |
35.21 |
|
|
919474 |
5.57 |
|
|
184159 |
1.12 |
|
|
176119 |
1.07 |
|
|
8040 |
0.05 |
|
|
8339968 |
50.52 |
|
Total Public
shareholding (B) |
8397419 |
50.87 |
|
Total (A)+(B) |
16507597 |
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) |
16507597 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a construction company dedicated to building
infrastructure for Rail Transport under one roof on turn key basis. It has been
active in fields of Signaling, Telecommunications, Track and Information
Systems. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institute : |
Sbicap Trustee
Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba,, Mumbai -
400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Amit Goyal and Company Chartered Accountants |
|
Address : |
A-8, II Floor, Ganpati Enclave, Ajmer Road, Jaipur - 302 006,
Rajasthan, India |
|
PAN No.: |
AAGFA6922K |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65,000,000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,507,597 |
Equity Shares |
Rs.10/- each |
Rs. 165.076 Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65,000,000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12397197 |
Equity Shares |
Rs.10/- each |
Rs. 123.972 Millions |
|
|
|
|
|
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 |
123.972 |
123.972 |
122.472 |
|
(b) Reserves & Surplus |
1,401.768 |
1,288.898 |
1,180.048 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
31.925 |
48.515 |
|
Total
Shareholders’ Funds (1) + (2) |
1,525.740 |
1,444.795 |
1,351.035 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.513 |
0.971 |
0.950 |
|
(b) Deferred tax liabilities
(Net) |
21.450 |
19.837 |
18.490 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
29.963 |
20.808 |
19.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1,074.964 |
892.771 |
563.496 |
|
(b) Trade payables |
170.494 |
164.910 |
283.789 |
|
(c) Other current liabilities |
275.758 |
235.069 |
203.414 |
|
(d) Short-term provisions |
54.300 |
47.348 |
63.079 |
|
Total
Current Liabilities (4) |
1,575.516 |
1,340.098 |
1,113.778 |
|
|
|
|
|
|
TOTAL |
3,131.219 |
2,805.701 |
2,484.253 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
179.980 |
187.899 |
163.589 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(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 |
179.980 |
187.899 |
163.589 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
844.131 |
626.871 |
915.958 |
|
(c) Trade receivables |
968.537 |
946.821 |
527.028 |
|
(d) Cash and cash equivalents |
395.586 |
360.653 |
298.903 |
|
(e) Short-term loans and
advances |
742.985 |
683.457 |
578.775 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2,951.239 |
2,617.802 |
2,320.664 |
|
|
|
|
|
|
TOTAL |
3,131.219 |
2,805.701 |
2,484.253 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2,572.221 |
2,443.311 |
2,296.425 |
|
|
Other Income |
34.586 |
26.622 |
31.139 |
|
|
TOTAL
(A) |
2,606.807 |
2,469.933 |
2,327.564 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(229.573) |
301.400 |
(64.995) |
|
|
Employees benefits expense |
107.480 |
91.111 |
76.511 |
|
|
Other expenses |
2,452.386 |
1,842.964 |
2,103.349 |
|
|
TOTAL
(B) |
2,330.293 |
2,235.475 |
2,114.865 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
276.514 |
234.458 |
212.699 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
138.731 |
104.720 |
75.436 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
137.783 |
129.738 |
137.263 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
15.600 |
15.386 |
14.416 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
122.183 |
114.352 |
122.847 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
41.239 |
37.527 |
54.071 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
80.944 |
76.825 |
68.776 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.530 |
6.200 |
5.620 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.11
|
3.11 |
2.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.75
|
4.68 |
5.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.90
|
4.08 |
4.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.08 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.71
|
0.62 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87
|
1.95 |
2.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
122.472 |
123.972 |
123.972 |
|
Reserves & Surplus |
1,180.048 |
1,288.898 |
1,401.768 |
|
Share Application money
pending allotment |
48.515 |
31.925 |
0.000 |
|
Net
worth |
1,351.035 |
1,444.795 |
1,525.740 |
|
|
|
|
|
|
long-term borrowings |
0.950 |
0.971 |
8.513 |
|
Short term borrowings |
563.496 |
892.771 |
1,074.964 |
|
Total
borrowings |
564.446 |
893.742 |
1,083.477 |
|
Debt/Equity
ratio |
0.418 |
0.619 |
0.710 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
2,296.425 |
2,443.311 |
2,572.221 |
|
|
|
6.396 |
5.276 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
2,296.425 |
2,443.311 |
2,572.221 |
|
Profit After Tax |
68.776 |
76.825 |
80.944 |
|
|
2.99% |
3.14% |
3.15% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check
List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year
of Establishment |
Yes |
|
2] |
Locality
of the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
No |
|
9] |
Name
of person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
No |
|
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 |
-- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
-- |
|
26] |
Buyer
visit details |
-- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN
of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External
Agency Rating, if available |
Yes |
OUTLOOK AND YEAR IN RETROSPECT / PERFORMANCE
During the financial
year 2012-13, the global economic environment was on a slow growth path. There
were signs of faster growth in certain geographies, primarily in the emerging
markets. The prevailing uncertainties were challenging, which called for much
higher level of efficiency and preparedness for participants in the market.
Amidst uncertainty your company was able to solicit considerable projects and
is pleased to state that the present order position of the company is so robust
that was never ever in the past. In view of same the Board is of the view that
coming years should be more promising and the fortune of the company might
change.
On the operational
and strategic front the Board is concerned about ongoing open offer as tendered
in by M/s Jupiter Metal, an Om Kothari group company, an entity headquartered
at Jaipur to acquire controlling stake in the company. Accordingly a public
announcement to the effect as required in terms of applicable guidelines has
been made by the latter whereby close to 30 % of capital is intended to be
acquired by said acquirer. In view of said potential threat the management has
signed Share Purchase Agreement for 19,37,960 no. of shares (constituting
promoters holding) for transfer to M/s Texmaco Rail and Engineering Limited,
Kolkata and also issued and alloted by way of preferential allotment 41,10,400
no. of equity shares to them.
Above all we
expect a better growth in order-booking and sales during FY14 on the back of
the last two year's intensive marketing efforts and government’s commitment
towards infrastructure spending.
NEW PROJECTS:
During 2012-13,
the company secured following new major projects in India:
a) Construction of
New Railway Doubling Track at Bhigwan Mohal Section (127.14 kms) in Sholapur
division of Central Railway in the state of Maharashtra by Rail Vikas Niagam
Limited, New Delhi.
b) Construction of
New Railway Doubling Track at Rani-Keshavganj (59.5 kms) in Ajmer division of
North Western Railway in the state of Rajasthan by Rail Vikas Nigam Limited,
New Delhi.
c) Gauge
Conversion of metre gauge track between Luknow and Pilibhit in Lucknow and
Izatnagar division of North Eastern Railway, bUttar Pradesh by Rail Vikas Nigam
Limited, New Delhi.
d) Construction of
new metro track: installation of third rail from Salt Lake, sector 5 to Howrah
Maidan including Central Park Depot awarded by Kolkata Metro Rail Corporation,
Kolkata.
The Gross sales
and other income for the financial year were Rs. 2606.800 Milloins as against
Rs. 2469.900 Milloins for the previous financial year registering an increase
of 5.54 %. Similarly the profit before tax was Rs. 122.100 Milloins and the
profit after tax was Rs. 80.900 Milloins for the financial year as against Rs.
114.300 Milloins and Rs. 76.800 Milloins respectively for the previous
financial year denoting improvement by 6.82% and 5.33 %.
PRESS RELEASE
INDIAN COMPANIES MAKING INROADS INTO AFRICAN COUNTRIES
Kalindee Rail Nirman eyes a bigger
share of the growing railway pie
Rather than chug along the beaten track,
this company ventured into businesses where no one else cared to.
In 1976, the Delhi-Jaipur route was being
upgraded for a new train—the Pink City Express—to run at speeds up to 100 km/hr
from the existing 40km/hr on old
signaling systems.
The Northern and Western Railways brass was
at its wits end since it was estimated that it would take 18 months to carry
out the work on the Bandikui-Rewari section while the deadline was not even
half that time. That’s when Ram Dayal Sharma, a former Railways staffer with
its S&T (signaling and telecom) department, stepped in to take up the
project on a contract. In the face of skepticism from many senior engineers the
project, worth Rs 0.750 Million, was completed exactly a day before its six-month
deadline. “Delivering projects on time has its own advantages. Your costs go
down and your margins remain intact,” says Sharma.
Since then, Kalindee Rail Nirman (Engineers)
which now also undertakes telecommunication and track-laying projects for the Railways
has used its unique model of resource mobilisation to stay ahead of the pack.
Growing opportunities prompted Sharma to
shift base in 2002 from Jaipur to Delhi where he opened a liaison office. Now, sitting
in his plush office at Gurgaon’s Cybercity, a far cry from his modest
beginnings, Sharma is preparing for a new innings. As rail infrastructure
projects such as the Dedicated Freight Corridor gather steam, Kalindee is in
the right place at the right time and with just the right credentials to make
the best of the looming opportunity. What was barely a Rs 500.000 Millions
company until two years ago (Rs 2810.000 Millions in 2008-09) is now laying the
tracks for a Rs 20000.000 Millions turnover by 2014.
Kalindee’s big moment came when it was
chosen among the preferred vendors for the Delhi Metro. Today it is laying
tracks for many of the ongoing stretches including the new Airport Express line
Kalindee has also worked on 54 stations along the prestigious Konkan Railway
route. “During these projects, we created a pool of trained manpower that has
come to be our biggest strength.”
In 1994 the company went public and Sharma
admits it took quite some time to adjust to the transition from a family
business to a publicly held one. It has started inducting professionals at
senior levels. The company has also moved into related areas such as automatic
fare collection, overhead electrification and engineering procurement but its
inherent strength of execution is where the competitive advantage lies, says
Sharma.
Competition comes from within the Railways
in the form of IRCON and multinationals like ABB and Siemens. With
opportunities opening up even larger Indian players are joining the fray. But
Sharma’s son Arvind Gemini who runs much of the show these days, says he isn’t
perturbed. “These players have some catching up to do given the nature of work
involved.” Kalindee will only stand to gain from its considerable experience
and near monopoly in a business where consortiums are becoming the norm. “We
will continue to be system integrators, and align with suitable partners to
grab future projects,” he says.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.21 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.