MIRA
INFORM REPORT
|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
KIRLOSKAR BROTHERS LIMITED |
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Registered
Office : |
Udyog Bhavan, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.01.1920 |
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Com. Reg. No.: |
11-000670 |
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Capital
Investment / Paid-up Capital : |
Rs.158.717
Millions |
|
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|
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CIN No.: [Company Identification
No.] |
L29113PN1920PLC000670 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK0011E |
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PAN No.: [Permanent Account No.] |
AAACK7300E |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are
Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in providing global fluid management solutions and
also engaged in manufacturing and exporting of centrifugal pumps and valves. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a part of Kirloskar Group. It is
a well-established company having fine track record. Financial position of
the company seems to be good. The performance of the company is good during
2014. Trade relations are reported as decent. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the
political and economic development in the dragon economy and has figured out
something that is quite worrying. He is of the view that the Chinese economy
could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed
that asset classes like real estate and equities were the biggest beneficiaries
of the liberalization policies. A firm called Ciane
Analytics studied returns from assets including equities, gold, fixed deposits,
G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17
crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
29.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
29.11.2013 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-20-27214444)
LOCATIONS
|
Registered Office : |
Udyog Bhavan, Tilak Road, Pune – 411 002, Maharashtra, India |
|
Tel. No.: |
91-20-24440770/ 24444455/ 24444444/ 24402189 |
|
Fax No.: |
91-20-24440824/ 24444198/ 24442780/ 24440156/ 24434198/ 24440822/
24270879/ 24402083 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office/ Global Headquarters : |
“YAMUNA”, Survey
No.98/(3-7), Baner, Pune
– 411 045, Maharashtra, India |
|
Tel. No.: |
91-20-27214598/ 27214444 |
|
Fax No.: |
91-20-27211136 |
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|
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Factory 1 : |
Kirloskarvadi, District Sangli – 416 308, Maharashtra,
India |
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Tel. No.: |
91-2346-222301 to 05, 222361 to 222365 |
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Fax No.: |
91-2346-222311 |
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Factory 2 : |
Opposite Railway Station, Ujjain Road, Dewas – 455 001, Madhya Pradesh, India |
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Tel. No.: |
91-7272-227302, 3, 4 91-7272-227401/ 405/ 409 (Marketing) |
|
Fax No.: |
91 7272 228747 |
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Factory 3 : |
Shirwal, Gat No.117, Shindevadi,
Taluka Khandala, District
Satara – 412 801, Maharashtra,
India |
|
Tel. No.: |
91-2169-244360/ 244370/ 244322 |
|
Fax No.: |
91-2169-244165 |
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Factory 4 : |
Gat No.252/2 + 254/2, Kondhapuri, Taluka: Shirur, District Pune – 412 208, Maharashtra,
India |
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Tel. No.: |
91-2137-270217/ 270116/ 270140/ 240021/ 240030/ 240025/ 240022 |
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Factory 5 : |
S.F. No.324/1, Moperipalayam Road, Thattampudur, Kaniyur Village, |
|
Tel. No.: |
91-421-2904699 |
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Factory 6 : |
Sr. No.254/1, Ahmedabad-Viramgam Highway, Village Chharodi,
Taluka Sanand, District Ahmedabad – 382 170, Gujarat, India |
|
Tel. No.: |
91-271-273310 |
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|
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|
Factory 7 : |
Pune Bangalore Highway, Shiroli (Pulachi), Taluka Hatkanangale, District Kolhapur
– 416 122, Maharashtra, India |
|
Tel. No.: |
91-230-2468061/ 62/ 63 |
|
Fax No.: |
91-230-2468761 |
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Branch Office 1 : |
New India Centre, 17-A Cooperage Road, Colaba,
Mumbai – 400 039, Maharashtra, India |
|
Tel. No.: |
91-22-22020828 |
|
Fax No.: |
91-22-22026267 |
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|
|
|
Branch Office 2 : |
Jeevan
Tara Building, 5, Sansad Marg,
New Delhi – 110 001, India |
|
Tel. No.: |
91-11-23341484/ 2334723/ 23347234 |
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Regional Sales Office : |
Located
at: ·
Ahmedabad ·
Bangalore ·
Bhopal ·
Bhubaneshwar ·
Chennai ·
Jaipur ·
Kochi ·
Kolkata ·
Lucknow ·
Mumbai ·
Nagpur ·
New Delhi ·
Pune ·
Jamshedpur ·
Secunderabad |
|
|
|
|
Overseas Office : |
Located
at: ·
Germany ·
United Arab Emirates ·
Kenya ·
Lao PDR ·
Malaysia ·
Singapore ·
Vietnam |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Sanjay Kirloskar |
|
Designation : |
Chairman and Managing Director |
|
Qualification : |
Bachelor of Science (M.E), Illinois Inst. of Tech. |
|
Date of Appointment : |
02.05.1983 |
|
|
|
|
Name : |
Mr. Vikram Kirloskar |
|
Designation : |
Director |
|
Qualification : |
Bachelor of Science (Mech.) |
|
Date of Appointment : |
06.06.2001 |
|
|
|
|
Name : |
Mr. M. S. Kirloskar |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. S. N. Inamdar |
|
Designation : |
Director |
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|
|
Name : |
Mr. Rahul Kirloskar |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Udipi Vasudeva
Rao |
|
Designation : |
Director |
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|
Name : |
Mr. P. S. Jawadekar |
|
Designation : |
Director |
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|
Name : |
Mr. J. R. Sapre |
|
Designation : |
Whole Time Director |
|
Qualification : |
Bachelor of Science |
|
Date of Appointment : |
01.04.2002 |
|
|
|
|
Name : |
Mr. A. N. Alawani |
|
Designation : |
Director |
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|
|
|
Name : |
Mrs. Lalita D. Gupte
|
|
Designation : |
Director |
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|
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|
Name : |
Mr. Pratap B. Shirke
|
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Alok S. Kirloskar |
|
Designation : |
Director (w.e.f.18.07.2012) |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Phadnis |
|
Designation : |
Company Secretary (w.e.f. 04.04.2013) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
30945032 |
38.99 |
|
|
19329956 |
24.36 |
|
|
50274988 |
63.35 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
50274988 |
63.35 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
3729899 |
4.70 |
|
|
91143 |
0.11 |
|
|
3665429 |
4.62 |
|
|
6676710 |
8.41 |
|
|
14163181 |
17.85 |
|
|
|
|
|
|
2347787 |
2.96 |
|
|
|
|
|
|
10386711 |
13.09 |
|
|
1939878 |
2.44 |
|
|
245906 |
0.31 |
|
|
198772 |
0.25 |
|
|
47134 |
0.06 |
|
|
14920282 |
18.80 |
|
Total Public shareholding (B) |
29083463 |
36.65 |
|
Total (A)+(B) |
79358451 |
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) |
79358451 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the
Shareholder |
Details of Shares held |
|
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
1 |
Sanjay C Kirloskar |
1,58,50,121 |
19.97 |
|
2 |
Rahul Chandrakant Kirloskar |
4,04,501 |
0.51 |
|
3 |
Gautam Achyut Kulkarni |
4,35,012 |
0.55 |
|
4 |
Vikram Shreekant Kirloskar |
70,236 |
0.09 |
|
5 |
Atul Chandrakant Kirloskar |
3,98,888 |
0.50 |
|
6 |
Suman Chandrakant Kirloskar |
9,168 |
0.01 |
|
7 |
Neeta Achyut Kulkarni |
6,693 |
0.01 |
|
8 |
Mrinalini Shreekant Kirloskar |
13,781 |
0.02 |
|
9 |
Pratima Sanjay Kirloskar |
1,37,50,145 |
17.33 |
|
10 |
Alpana Rahul Kirloskar |
100 |
0.00 |
|
11 |
Jyotsna Gautam Kulkarni |
100 |
0.00 |
|
12 |
Arti Atul Kirloskar |
100 |
0.00 |
|
13 |
Alok Kirloskar |
6,187 |
0.01 |
|
14 |
Kirloskar Industries Limited |
1,89,88,038 |
23.93 |
|
15 |
Prakar Investments Private Limited |
2,69,671 |
0.34 |
|
16 |
Achyut and Neeta Holding and Finance Private Limited |
72,247 |
0.09 |
|
|
Total |
5,02,74,988 |
63.35 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
|
1 |
Amansa Capital PTE Limited A/c Amansa Holdings Private Limited |
4308926 |
5.43 |
|
2 |
Reliance Capital Trustee Company Limited A/c Reliance Diversified Power Sector Fund |
3704752 |
4.67 |
|
3 |
New India Assurance Company Limited |
1513002 |
1.91 |
|
4 |
General Insurance Corporation of India |
1407434 |
1.77 |
|
5 |
ICICI Prudential Life Insurance Company Limitedlk |
1160140 |
1.46 |
|
6 |
Warbug Value Fund |
1000000 |
1.26 |
|
|
Total |
13094254 |
16.50 |
Shareholding
belonging to the category "Public" and holding more than 5% of the
Total No. of Shares
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
|
|
|
|
|
1 |
Amansa Capital PTE Limited A/c Amansa Holdings Private Limited |
4308926 |
5.43 |
5.43 |
|
|
Total |
4308926 |
5.43 |
5.43 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing global fluid management solutions and
also engaged in manufacturing and exporting of centrifugal pumps and valves. |
||||||||
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Products/ Services : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Power Driven Pumps |
Nos. |
194,000 |
194,000 |
@ 314,677 |
|
Metal Cutting
including Grinding Machines |
Nos. |
736 |
736 |
-- |
|
Reduction Gear
Units |
Nos. |
1,200 |
1,200 |
-- |
|
Valves |
Nos. |
70,070 |
70,070 |
31,123 |
|
Ploughs |
Nos. |
3,216 |
3,216 |
-- |
|
Alloy Iron
Castings including Steel Castings |
M.T. |
* 120 |
* 120 |
-- |
|
Cast Iron
Castings |
M.T. |
2,500 |
2,500 |
-- |
|
Cast Iron
Castings including Alloy Steel Castings for Automotive purposes |
M.T. |
5,000 |
5,000 |
937 |
|
Turbines |
Nos. |
-- |
-- |
5 |
|
Electric Motors |
Nos. |
-- |
-- |
@@ 17,788 |
@ Includes 56 for
own use.
@@ Includes 11 for
own use.
* Per annum on
single shift basis.
Notes
a) Licensed
Capacity includes registered capacities for activities existing prior to the Industries
(Development Regulation) Act, 1951, but does not include licenses held for
captive capacities.
b) It is not
practicable to indicate precisely installed capacity of each type of product
manufactured by the Company, as the capacity of various facilities available is
overlapping for each product. Besides, the Company manufactures a very large
range amongst the licensed products which, in turn, is decided by actual demand
from time to time. Also the Company buys components, parts and other services from
outside. The installed capacities as indicated above are estimates as certified
by the Managing Director and accepted by the Auditors.
c) In terms of
notification no. 477E dated 25.07.1991 issued by Department of Industrial Development,
industrial licenses are not required for the products manufactured by the
Company except centrifugal pumps manufactured at Dewas
below 10 cm x 10 cm which are reserved for small scale sector. Revalidation of
industrial license in this range of pumps is under process.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
·
Bank of India ·
Canara Bank ·
HDFC Bank Limited ·
ICICI Bank Limited ·
Citibank N.A. ·
Credit Agricole
Corporate and Investment Bank |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. G. Bhagwat Chartered Accountants |
|
Address : |
Pune, Maharashtra,
India |
|
|
|
|
Joint Venture : (As on 31.03.2013) |
·
Kirloskar Ebara Pumps
Limited |
|
|
|
|
Subsidiaries: (As on 31.03.2013) |
·
Kirloskar Constructions
and Engineers Limited ·
The Kolhapur Steel
Limited ·
Kirloskar Systech Limited ·
Hematic Motors Private
Limited ·
Kirloskar Corrocoat Private Limited ·
Kirloskar Brothers
International B.V. |
|
|
|
|
Subsidiaries of Kirloskar Brothers International B.V.: (As on 31.03.2013) |
·
SPP Pumps Limited ·
Kirloskar Brothers Europe
B.V. ·
Micawber 784
(Proprietary) Limited ·
Kirloskar
Brothers(Thailand) Limited ·
SPP Pumps (MENA) L.L.C. |
|
|
|
|
Subsidiaries of SPP Pumps
Limited : (As on 31.03.2013) |
·
SPP Pumps France EURL ·
Certified Engines Limited ·
SPP (South Africa) Pty. Limited ·
SPP Pumps Holdings LLC ·
SPP Pumps Management LLC ·
SPP France S A S ·
SPP Pumps LP |
|
|
|
|
Subsidiary of Micawber 784 (Proprietary) Limited : (As on 31.03.2013) |
·
Braybar Pumps
(Proprietary) Limited |
|
|
|
|
Enterprises over which key managerial personnel
or their relatives exercise significant influence : (As on
31.03.2013) |
·
Kirloskar Proprietary
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.158.717
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000000 |
Equity Shares |
Rs.2/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
79358451 |
Equity Shares |
Rs.2/- each |
Rs.158.717
Millions |
|
|
|
|
|
Reconciliation of share capital
|
Particulars |
As at 31st March, 2013 |
|
|
No. of Shares |
Amount (Rs. in millions) |
|
|
Shares outstanding at the beginning of the year |
79339701 |
158.679 |
|
Shares Issued during the year under ESOS |
18750 |
0.038 |
|
Shares outstanding
at the end of the year |
79358451 |
158.717 |
Rights of equity
shareholder:
The company has
only one class of equity shares, having par value of Rs.2/- per share. Each
holder of equity share is entitled to one vote per share and has a right to receive
dividend as recommended by the board of directors subject to the necessary
approval from the shareholders. 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.
For the year ended
March 31, 2013 the board of directors has proposed dividend of Rs.2/- per share
subject to shareholders' approval.
Details of shareholders holding more than 5% shares
|
Name of the shareholder |
As at 31st March, 2013 |
|
|
No. of Shares |
% of Holding |
|
|
Kirloskar Industries Limited |
18988038 |
23.93 |
|
Mr. Sanjay Chandrakant Kirloskar
* |
15801653 |
19.91 |
|
Mrs. Pratima Sanjay Kirloskar |
13732300 |
17.30 |
|
Reliance Capital Trustee Company Limited |
4815291 |
6.07 |
* includes1624615, 2.05% shares held in the capacity of a trustee.
Shares reserved for Employee Stock Option Scheme (ESOS)
|
Particulars |
As at 31st March, 2013 |
|
|
No. of Shares |
% of Holding |
|
|
Shares reserved for ESOS scheme |
5212315 |
10.425 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
158.717 |
158.717 |
158.679 |
|
(b) Reserves & Surplus |
7841.921 |
7626.859 |
7377.619 |
|
(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) |
8000.638 |
7785.576 |
7536.298 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
40.192 |
49.684 |
455.099 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
844.911 |
810.965 |
979.757 |
|
(d) Long-term provisions |
120.745 |
157.650 |
152.817 |
|
Total Non-current Liabilities (3) |
1005.848 |
1018.299 |
1587.673 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
2192.718 |
2233.364 |
2773.657 |
|
(b) Trade payables |
3663.677 |
4522.467 |
4124.519 |
|
(c) Other current
liabilities |
2321.534 |
3107.268 |
2870.617 |
|
(d) Short-term provisions |
475.333 |
414.804 |
456.357 |
|
Total Current Liabilities (4) |
8653.262 |
10277.903 |
10225.150 |
|
|
|
|
|
|
TOTAL |
17659.748 |
19081.778 |
19349.121 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
|
3136.455 |
3070.444 |
2797.548 |
|
(ii) Intangible Assets |
|
19.726 |
31.811 |
|
(iii) Capital
work-in-progress |
|
74.258 |
360.071 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
2149.448 |
2149.437 |
2149.432 |
|
(c) Deferred tax assets (net) |
30.823 |
40.994 |
25.995 |
|
(d) Long-term Loan and Advances |
1607.518 |
1415.645 |
1387.339 |
|
(e) Other Non-current assets |
507.489 |
595.487 |
881.009 |
|
Total Non-Current Assets |
7431.733 |
7365.991 |
7633.205 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1320.734 |
1833.056 |
2099.616 |
|
(c) Trade receivables |
3414.415 |
3552.749 |
2980.483 |
|
(d) Cash and cash
equivalents |
209.444 |
175.234 |
205.336 |
|
(e) Short-term loans and
advances |
1695.077 |
2113.273 |
2166.012 |
|
(f) Other current
assets |
3588.345 |
4041.475 |
4264.469 |
|
Total Current Assets |
10228.015 |
11715.787 |
11715.916 |
|
|
|
|
|
|
TOTAL |
17659.748 |
19081.778 |
19349.121 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
17516.341 |
18723.979 |
17818.761 |
|
|
|
Other Income |
54.616 |
69.995 |
462.788 |
|
|
|
TOTAL (A) |
17570.957 |
18793.974 |
18281.549 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
7610.627 |
9701.915 |
9737.108 |
|
|
|
Purchases of Stock-in-Trade |
3679.384 |
3162.021 |
3169.316 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and Stock-in-Trade |
405.433 |
340.490 |
(245.464) |
|
|
|
Employee benefits expense |
1523.633 |
1496.764 |
1509.775 |
|
|
|
Other expenses |
2775.562 |
2610.122 |
2931.545 |
|
|
|
Materials consumed |
124.061 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
16118.700 |
17311.312 |
17102.280 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1452.257 |
1482.662 |
1179.269 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
408.541 |
442.722 |
536.996 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1043.716 |
1039.940 |
642.273 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
346.170 |
320.462 |
302.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
697.546 |
719.478 |
339.656 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
220.671 |
285.001 |
27.769 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
476.875 |
434.477 |
311.887 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1449.112 |
1241.392 |
1142.469 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
158.717 |
158.679 |
|
|
|
Dividend distribution tax |
NA |
24.592 |
23.096 |
|
|
|
Transfer to General Reserve |
NA |
43.448 |
31.189 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1449.112 |
1241.392 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of goods exported |
NA |
803.793 |
987.173 |
|
|
|
Services rendered/Civil work |
NA |
129.166 |
165.854 |
|
|
|
Others |
NA |
611.489 |
6.368 |
|
|
TOTAL EARNINGS |
NA |
1544.448 |
1159.395 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
410.198 |
698.600 |
|
|
|
Capital Goods |
NA |
62.670 |
30.741 |
|
|
TOTAL IMPORTS |
NA |
472.868 |
729.341 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.01 |
5.47 |
3.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.71 |
2.31
|
1.71
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.98 |
3.84
|
1.91
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.51 |
4.28
|
2.02
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09
|
0.05
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.28 |
0.29
|
0.42
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.14
|
1.15
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
158.679 |
158.717 |
158.717 |
|
Reserves & Surplus |
7377.619 |
7626.859 |
7841.921 |
|
Net
worth |
7536.298 |
7785.576 |
8000.638 |
|
|
|
|
|
|
long-term borrowings |
455.099 |
49.684 |
40.192 |
|
Short term borrowings |
2773.657 |
2233.364 |
2192.718 |
|
Total
borrowings |
3228.756 |
2283.048 |
2232.910 |
|
Debt/Equity
ratio |
0.428 |
0.293 |
0.279 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
17818.761 |
18723.979 |
17516.341 |
|
|
|
5.080 |
-6.450 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
17818.761 |
18723.979 |
17516.341 |
|
Profit |
311.887 |
434.477 |
476.875 |
|
|
1.75% |
2.32% |
2.72% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
Yes |
|
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)
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
10/06/2013 |
||||||||||
|
|
Stamp No.:- |
FAST/15591/2013 |
Filing Date:- |
10/06/2013 |
Reg. No.:- |
FA/1388/2013 |
Reg. Date:- |
|
30/09/2013 |
|
|
|
|
Petitioner:- |
LUPIN LIMITED |
Respondent:- |
KIRLOSKAR BROTHERS LIMITED |
|
|
|
Petn.Adv.:- |
PS LEGAL |
Resp.Adv.:- |
NACHIKET VILOL KHALADKAR (I3261) |
|
|
|
District:- |
PUNE |
|
|
|
Bench:- |
SINGLE |
|
|
|
|
|
Status:- |
Pre-Admission |
|
|
|
|
|
Next Date:- |
19/03/2014 |
Stage:- |
APPEALS FOR ADMISSION - FRESH [CIVIL SIDE
MATTERS] |
|
|
|
Coram:- |
ACCORDING TO SITTING LIST |
|
|
|
Last Date:- |
16/12/2013 |
Stage:- |
FOR ADMISSION - FRESH (FIRST APPEALS) |
|
|
|
Last Coram:- |
HON'BLE MRS. JUSTICE MRIDULA BHATKAR |
|
|
|
Act :- |
C.P.C.- (Non-Interlocutory Order) |
Under Section:- |
96 |
|
|
|
Transfer of Property Act |
|
UNSECURED LOAN
|
|
31.03.2014 (Rs. in millions) |
31.03.2013 (Rs. in millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From others |
|
|
|
(a) Interest
free loan under sales tax deferral scheme Terms of loans:
2.579 millions to be repaid in 5 equal yearly installments of Rs.0.516 million
starting from March 2010 and Rs.52.883 millions to be repaid in 9 yearly
installments starting from April 2013. |
|
49.684 |
|
SHORT TERM
BORROWINGS |
NA |
|
|
(a) Foreign currency short term loans and advances from banks |
|
|
|
(i) Citibank N.A. - FCNRB |
|
933.788 |
|
(b) Rupee short
term loans and advances from banks |
|
|
|
(i) Bank of India |
|
0.000 |
|
c) Loans and
advances from related parties |
|
|
|
(i) Loan from subsidiary company Terms of loan: Loan
carries interest @ 10% per annum |
|
120.000 |
|
Total |
NA |
1103.472 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10239602 |
02/09/2010 |
937,800,000.00 |
CREDIT AGRICOLE
CORPORATE AND INVESTMENT BANK |
168, ROBINSON
ROAD, # 22-01, CAPITAL TOWER, SINGAPORE, 068912, SINGAPORE |
A94550571 |
|
2 |
10050248 |
30/03/2007 |
218,100,000.00 |
CANARA BANK |
INDUSTRIAL
FINANCE BRANCH, MG ROAD, CAMP, PUNE, |
A15042278 |
|
3 |
90087290 |
14/05/2005 |
500,000,000.00 |
CANARA BANK |
INDUSTRIAL
FINANCE BRANCH, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
4 |
90087149 |
11/02/2005 |
2,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING; FLOOR 21, WORLD TRADE CENTRE |
- |
|
5 |
80022457 |
12/12/2011 * |
18,000,000,000.00 |
BANK OF INDIA |
1162/6, SHIVAJI NAGAR,
UNIVERSITY ROAD, NEAR OBSERVATORY, PUNE, MAHARASHTRA - 411005, INDIA |
B29196706 |
|
6 |
90086854 |
26/06/2004 |
250,000,000.00 |
CANARA BANK |
INDUSTRIAL
FINANCE BRANCH, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
7 |
90086670 |
14/02/2004 |
400,000,000.00 |
CANARA BANK |
INDUSTRIAL
FINANCE BRANCH, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
8 |
90086566 |
28/10/2003 |
80,000,000.00 |
BANK OF INDIA |
PUNE CORPORATE
BANKING BRANCH, UNIVERSITY ROAD, PUNE, MAHARASHTRA - 411005, INDIA |
- |
|
9 |
90086486 |
07/08/2003 |
30,100,000.00 |
CANARA BANK |
INDUSTRIAL
FINANCE BRANCH, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
10 |
90086417 |
05/06/2003 |
8,900,000.00 |
CANARA BANK |
INDUSTRIAL
FINANCE BRANCH, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
11 |
90086041 |
14/03/2002 |
256,300,000.00 |
CANARA BANK |
INDUSTRTIAL
FINANCE BRANCH, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
12 |
90085961 |
21/12/2001 |
149,500,000.00 |
BANK OF INDIA |
INDUSTRIAL
FINANCE BANKING BRANCH, SHIVAJINAGAR, |
- |
|
13 |
90085875 |
12/09/2001 |
7,000,000.00 |
CANARA BANK |
INDUSTRTIAL
FINANCE BRANCH, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
14 |
90088243 |
05/01/2000 |
5,000,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE
BRANCH, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
15 |
90085010 |
05/03/1999 |
20,000,000.00 |
BANK OF INDIA |
PUNE CORPORATE
BANKING BRANCHJ, LIC BUILDING; 6/7; SHIVAJIAGAR, PUNE, MAHARASHTRA - 411005,
INDIA |
- |
|
16 |
90088125 |
30/07/1998 |
70,000,000.00 |
BANK OF INDIA |
70/80; M.G.
ROAD, FORT, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
17 |
90084809 |
04/07/2001 * |
1,720,000,000.00 |
BANK OF INDIA |
PUNE CORPORATE
BANKING BRANCH, LIC BUILDING; 6/7 |
- |
|
18 |
90084766 |
21/01/1998 |
1,012,000,000.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, CAMP, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
19 |
90084670 |
06/08/1997 |
70,000,000.00 |
THE INDUSTRIAL CREDIT
AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
20 |
90084657 |
29/10/1997 * |
1,520,000,000.00 |
BANK OF INDIA |
PUNE CORPORATE
BANKING BRANCH, LIC BUILDING; 6/7; |
- |
|
21 |
90084596 |
25/11/1997 * |
60,000,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
22 |
90084447 |
23/04/1996 |
2,475,500.00 |
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, LIC BUILDING; 6/7; SHI |
- |
|
23 |
90084443 |
11/04/1996 |
1,265,000,000.00 |
BANK OF INDIA |
PUNE CORPORATE
BANKING BRANCH, LIC BUILDING; 6/7; |
- |
|
24 |
90084441 |
10/04/1996 |
6,688,800.00 |
BANK OF
MAHARASHTRA |
INDUSTRIAL
FINANCE BRANCH, SADASHIV VILAS BUILDING; SHIVAJINAGAR, PUNE, MAHARASHTRA -
411005, INDIA |
- |
|
25 |
90084439 |
08/04/1996 |
1,000,000.00 |
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, LIC BUILDING; 6/7; SHIVAJINAGAR, PUNE, MAHARASHTRA - 411005,
INDIA |
- |
|
26 |
90084415 |
21/03/1996 |
4,210,915.00 |
BANK OF INDIA |
PUNE INDUSTRIAL FINANCE
BRANCH, LIC BUILDING; 6/7; SHIVAJINAGAR, PUNE, MAHARASHTRA - 411005, INDIA |
- |
|
27 |
90084411 |
14/03/1996 |
6,513,000.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
28 |
90084393 |
16/02/1996 |
3,515,400.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, CAMP, PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
29 |
90084369 |
20/12/1995 |
32,000,000.00 |
BANK OF INDIA |
PUNE CORPORATE
BANKING BRANCH, LIC BUILDING; 6/7; |
- |
|
30 |
90084319 |
01/09/1995 |
17,500,000.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
31 |
90084294 |
19/07/1995 |
10,000,000.00 |
CANARA BANK |
LAXMI ROAD BRANCH,
PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
32 |
90084224 |
31/01/1996 * |
40,000,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
33 |
90084221 |
12/01/1996 * |
40,000,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
|
34 |
90087798 |
01/09/1993 |
9,500,000.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD BRANCH,
PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
35 |
90083928 |
10/12/1992 |
3,000,000.00 |
BANK OF
MAHARASHTRA |
INDUSTRIAL
FINANCE BRANCH, 1183A; SADASHIV VILAS; |
- |
|
36 |
90083915 |
03/11/1992 |
19,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIA L
FINANCE BRANCH, TARA CHAMBERS; BOMBAY |
- |
|
37 |
90083913 |
29/10/1992 |
45,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIA L
FINANCE BRANCH, TARA CHAMBERS; BOMBAY |
- |
|
38 |
90083902 |
08/10/1992 |
5,000,000.00 |
BANK OF
MAHARASHTRA |
INDUSTRIAL
FINANCE BRANCH, PUNE, MAHARASHTRA - 411005, INDIA |
- |
|
39 |
90083888 |
21/08/1992 |
1,654,500.00 |
CANARA BANK |
LAXMI ROAD BRANCH,
CAMP, PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
40 |
90083880 |
31/07/1992 |
3,000,000.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
41 |
90083864 |
01/02/1993 * |
40,000,000.00 |
THE INDUSTRIAL CREDIT
AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
42 |
90083863 |
04/11/1992 * |
40,000,000.00 |
THE INDUSTRIAL
CREDIT AND INVES. CORP. OF INDIA LIMITED |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
43 |
90083841 |
07/09/1992 * |
40,000,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
44 |
90083823 |
27/01/1992 |
212,200.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, CAMP, PUNE, MAHARASHTRA - 4110 |
- |
|
45 |
90083820 |
14/09/1992 * |
538,000,000.00 |
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, LIC BUILDING; 6/7; SHI |
- |
|
46 |
90083808 |
17/12/1991 |
175,700.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
47 |
90083799 |
28/10/1991 |
2,500,000.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
48 |
90083783 |
31/08/1991 |
731,300.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, PUNE, MAHARASHTRA - 41102, INDIA |
- |
|
49 |
90083773 |
12/08/1991 |
654,600.00 |
CANARA BANK |
LAXMI ROAD BRANCH,
PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
50 |
90083766 |
04/07/1991 |
353,000.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, CAMP, PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
51 |
90083738 |
17/08/1992 * |
3,193,705.00 |
THE INDUSTRIAL CREDIT
AND INVES. CORP. OF INDIA LIMITED |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
52 |
90083732 |
19/02/1991 |
3,000,000.00 |
BANK OF
MAHARASHTRA |
INDUSTRIAL
FINANCE BRANCH, 1183-A; SHIVAJINAGAR; |
- |
|
53 |
90083730 |
15/02/1991 |
3,000,000.00 |
BANK OF
MAHARASHTRA |
INDUSTRIAL
FINANCE BRANCH, 1183-A; SHIVAJINAGAR; |
- |
|
54 |
90083727 |
02/02/1991 |
11,200,000.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, PUNE, MAHARASHTRA - 411002, INDIA |
- |
|
55 |
90083668 |
05/02/1991 * |
12,117,449.00 |
THE INDUSTRIAL
CREDIT AND INVESTMENT CORPO. OF INDIA |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
|
56 |
90083656 |
25/02/1990 |
109,400.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
57 |
90083639 |
14/12/1989 |
7,500,000.00 |
CANARA BANK |
LAXMI ROAD BRANCH,
NEAR GOKHALE HALL, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
58 |
90083636 |
28/11/1989 |
2,500,000.00 |
BANK OF
MAHARASHTRA |
INDUSTRIAL
FINANCE BRANCH, SHIVAJINAGAR, PUNE, MAHARASHTRA - 411005, INDIA |
- |
|
59 |
90083633 |
09/11/1989 |
96,600.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
60 |
90083620 |
30/08/1989 |
2,477,902.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
61 |
90083594 |
01/03/1989 |
219,000.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
62 |
90083587 |
09/02/1989 |
358,300.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
63 |
90083583 |
04/02/1989 |
26,500,000.00 |
CANARA BANK |
LAXMI ROAD
BRANCH, NEAR GOKHALE HALL, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
64 |
90083579 |
27/01/1989 |
1,000,000.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD BRANCH,
PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
65 |
90087630 |
27/01/1989 |
1,000,000.00 |
BANK OF
MAHARASHTRA |
INDUSTRIAL
FINANCE BRANCH, SHIVAJINAGAR, PUNE, MAHARASHTRA - 411005, INDIA |
- |
|
66 |
90083578 |
14/01/1989 |
570,300.00 |
THE UNITED WESTERN
BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
67 |
90083576 |
10/01/1989 |
1,800,000.00 |
BANK OF INDIA |
B-A; DR. COYAJI
ROAD, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
68 |
90083569 |
20/12/1988 |
28,300.00 |
THE UNITED
WESTERN BANK LIMITED |
TILAK ROAD
BRANCH, PUNE, MAHARASHTRA - 411030, INDIA |
- |
|
69 |
90083438 |
23/09/1986 |
1,500,000.00 |
CANARA BANK |
93/2; BUDHWAR
PETH LAXMI ROAD, PUNE, MAHARASHTRA - |
- |
|
70 |
90083408 |
08/04/1993 * |
7,500,000.00 |
BANK OF INDIA |
BOMBAY MAIN
BRANCH, 70-80; M.G. ROAD, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
71 |
90083293 |
23/01/1991 * |
15,000,000.00 |
BANK OF INDIA |
B-A; DR. COYAJI
ROAD, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
72 |
90083271 |
23/01/1991 * |
50,700,000.00 |
BANK OF INDIA |
B-A; DR. COYAJI
ROAD, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
Subject is a
public company domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Subject is engaged in providing global fluid management
solutions and is the largest manufacturer and exporter of centrifugal pumps and
valves from India. The core businesses of the company are large infrastructure
projects (Water Supply, Power Plants, and Irrigation), Project and Engineered
Pumps, Industrial Pumps, Agriculture and Domestic Pumps, Valves, Motors and
Hydro turbines.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended |
|
|
30.06.2014 |
|
|
|
|
Income from operations |
|
|
(a) Net Sales/ Income from
Operations (net of excise duty) |
3253.494 |
|
(b) Other Operating
Income |
28.354 |
|
Total Income from operations (net) |
3281.848 |
|
Expenses |
|
|
a) Cost of materials
consumed |
1890.786 |
|
b) Purchases of
stock-in-trade |
492.528 |
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(195.048) |
|
d) Employee benefits
expense |
402.477 |
|
e) Depreciation and
amortization expense |
119.391 |
|
f) Other expenses |
744.528 |
|
Total expenses |
3454.662 |
|
Profit /(Loss) from Operations before Other Income,
finance costs and exceptional items |
(172.814) |
|
Other Income |
50.143 |
|
Profit /(Loss) from
ordinary activities before finance costs and exceptional items |
(122.671) |
|
Finance costs |
98.798 |
|
Profit /(Loss) from
ordinary activities after finance costs but before exceptional Items |
(221.469) |
|
Exceptional Item |
-- |
|
Profit /(Loss) from
ordinary activities before tax |
(221.469) |
|
Tax expense |
(22.885) |
|
Net Profit/(Loss) from ordinary
activities after tax |
(198.584) |
|
Short provision of income
tax on account of earlier years |
-- |
|
Extraordinary Items (net
of tax expenses) |
-- |
|
Net Profit (Loss) for the
period |
(198.584) |
|
Paid-Up Equity Share Capital
(Face value of Rs. 2/- each) |
157.717 |
|
Reserves excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
|
Earnings Per Share
(before extraordinary items) (of
Rs.2/-each) (Not Annualised)- (Rs.) |
|
|
Basic |
(2.50) |
|
Diluted |
(2.50) |
|
Earnings Per Share (after
extraordinary items) (of
Rs. 2/- each)
(Not Annualised) - (Rs.) |
|
|
Basic |
(2.50) |
|
Diluted |
(2.50) |
|
|
|
|
|
|
|
Sr.
No. |
Particular |
Quarter Ended |
|
|
|
30.06.2014 |
|
|
|
Unaudited |
|
A |
PARTICULARS
OF SHAREHOLDING |
|
|
1 |
Public
Shareholding |
|
|
|
-
Number of Shares |
29083463 |
|
|
-
Percentage of Shareholding |
36.65 |
|
2 |
Promoters
and Promoter Group Shareholding |
|
|
|
a)
Pledged / Encumbered |
|
|
|
-
Number of Shares |
-- |
|
|
-
Percentage of Shares (as a % of total shareholding of promoter and
promoter group) |
-- |
|
|
-
Percentage of Shares (as a % of total share Capital of the Company) |
-- |
|
|
b) Non-Encumbered |
|
|
|
-
Number of Shares |
50274988 |
|
|
-
Percentage of Shares (as a % of total shareholding of promoter and
promoter group) |
100.000 |
|
|
-
Percentage of Shares (as a % of total share Capital of the Company) |
63.35 |
INVESTOR COMPLAINTS
|
PARTICULARS |
3 Months Ended 30.06.2014 |
|
Pending at the beginning of the quarter |
0 |
|
Received during the quarter |
1 |
|
disposed off during the quarter |
1 |
|
Remaining unresolved at the end of the quarter |
0 |
Notes:
1. The above results have been reviewed by the
Audit Committee and approved by the Board of Directors at their respective
meetings help on July 22, 2014.
2. Effective from April 1, 2014 the company
has charged depreciation based in the revised remaining useful of the assets as
per the requirement of schedule II of the companies Act, 2013. Due to above,
depreciation charge for the quarteer ended June 30,
2014 is higher by Rs.37.200 Millions.
3. Exceptional items for the previous quarter
and year end represent net foreign exchange loss.
4. Figures have been regrouped wherever
necessary.
STANDALONE
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED UNDER CLAUSE 41 OF THE
LISTING AGREEMENT
(Rs. In Millions)
|
Particulars |
Quarter Ended |
|
|
30.06.2014 |
|
|
|
|
Segment revenue |
|
|
a. Pumps |
3127.626 |
|
b. Others |
147.063 |
|
Total |
3274.689 |
|
Less: |
|
|
Inter segment revenue |
21.195 |
|
Net sales / Income from
operations |
3253.494 |
|
Segment Results Profit before
tax and finance costs from each segment |
|
|
a. Pumps |
92.326 |
|
b. Others |
9.131 |
|
Total |
101.457 |
|
Less: |
|
|
i. Finance Costs |
98.798 |
|
ii. Other un-allocable
expenditure net of un-allocable income |
224.128 |
|
Total Profit/(Loss) Before
Tax |
(221.469) |
|
Capital Employed |
|
|
(Segment Assets - Segment
Liabilities) |
|
|
a. Pumps |
5530.879 |
|
b. Others |
286.973 |
|
c. Unallocated Corporate
Assets |
4264.817 |
|
Total |
10082.669 |
FIXED ASSETS
Tangible Assets
·
Free Hold Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Railway Siding
Intangible Assets
·
Computer Software
PRESS RELEASES
KIRLOSKAR BROTHERS INSTALLS WORLD’S LARGEST WATER PUMPING SYSTEM
Pune, January 23:
Fluid management company Kirloskar Brothers Limited (KBL) has collaborated with Tata Power to install the world’s largest circulating water pumping system for the latter’s Ultra Modern Power Plant (UMPP) at Mundra.
Coastal Gujarat Power Limited, Tata Power’s wholly-owned subsidiary, which has implemented the 4,000 MW UMPP, requires massive amounts of water to condense the heat generated while producing power. Around 10.5 million litres of water is circulated by the pump sets per minute.
Ravindra Ulangwar, AVP and Head, Power Sector, KBL, said, “The Mundra UMPP is India’s first and most energy efficient coal-based thermal power plant using supercritical technology to create lower greenhouse gas emissions and its main power generation equipment is sourced from Japan and Korea.”
The pumping system is designed to take care of fluctuations in the sea water level due to tidal variations.
The Mundra UMPP will meet 2 per cent of India’s power needs and 16 million domestic, industrial and agricultural consumers in Gujarat, Rajasthan, Maharashtra, Haryana and Punjab will benefit from this project.
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.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.