MIRA INFORM REPORT
|
Report No. : |
316899 |
|
Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
WPIL LIMITED |
|
|
|
|
Registered
Office : |
Trinity Plaza, 3rd Floor, 84/1A, Topsia Road (South), Kolkata
- 700046, West Bengal |
|
Tel. No.: |
91-33-30216800 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.02.1952 |
|
|
|
|
Com. Reg. No.: |
21-020274 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.79.671 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L36900WB1952PLC020274 |
|
|
|
|
IEC No.: |
0288031296 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW2892B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Pumps and pumping systems. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company which was incorporated by
“Johnston Pump Company Inc.”, USA, and currently belongs to Mr. Prakash
Agarwal of Kolkata. It is having fine track. The company possesses a favorable financial profile marked by adequate
networth base. Moreover, the impressive client portfolio and the benefits expected to
be derived from recent acquisitions may further support the business profile. The ratings also take into consideration the exposure to volatility in
raw material prices and working capital intensive nature of the business
operations. However, trade relations are fair. Business is active. Payment terms
are reported as regular and as per commitments. In view of long track record, the subject can be considered for
business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
April 06, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
April 06, 2015 |
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 PARTED BY
|
Name : |
Mr. Parth Banerjee |
|
Designation : |
Account Manager |
|
Contact No.: |
91-33-30216800 |
|
Date : |
09.04.2015 |
LOCATIONS
|
Registered Office : |
Trinity Plaza, 3rd Floor, 84/1A, Topsia Road (South), Kolkata
- 700046, West Bengal, India |
|
Tel. No.: |
91-33-30216800 |
|
Fax No.: |
91-33-30216835 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
|
|
|
Eastern Region Office : |
6, Old Post, |
|
|
|
|
Western Region Office : |
10 and 11, Bhagtani Enclave, |
|
|
|
|
Southern Region Office 1 : |
1B, 1st Floor, Mandira Apartment, 23-A, Dr. B N Road, T
Nagar, Chennai-600017, Tamilnadu, India |
|
|
|
|
Southern Region Office 2 : |
Chamber4, 1st Floor, Opposite L B Stadium, K.L.K Estate, 5-9-62,
Fateh Maidan Road, Hyderabad-500001, Andhra Pradesh, India |
|
|
|
|
Northern Region Office/ Factory 1 : |
A-5, Sector 22, Meerut Road, Ghaziabad-201003, |
|
Tel. No.: |
91-120-2718916/ 2109/2116/2722042 |
|
Fax No.: |
91-120 -2713341 |
|
|
|
|
Factory 2 : |
22, |
|
Tel. No.: |
91-33-2553 1872 /3034/
2905/ 2563 /3089 |
|
Fax No.: |
91-33-2553 1276 / 2583
3459 |
|
|
|
|
Factory 3 : |
180/176, Upen |
|
|
|
|
Factory 4 : |
Biren Roy Road (West), Ganipur, Maheshtala 24 Parganas South 743352,
West Bengal, India |
|
|
|
|
Sales Network : |
Located At:
|
DIRECTORS
As on 31.03.2014
|
Name : |
P. Agarwal |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
K. K. Ganeriwala |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
V. N. Agarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Samarendra Nath Roy |
|
Designation : |
Director |
|
|
|
|
Name : |
Binaya Kapoor |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. U.K. Mukhopadhyay |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Parth Banerjee |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Arnab Bose |
|
Designation : |
Senior Officer - Purchase |
SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
196442 |
2.01 |
|
|
5768309 |
59.06 |
|
|
5964751 |
61.07 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
5964751 |
61.07 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
1511442 |
15.47 |
|
|
566 |
0.01 |
|
|
143594 |
1.47 |
|
|
1655602 |
16.95 |
|
|
|
|
|
|
958063 |
9.81 |
|
|
|
|
|
|
871046 |
8.92 |
|
|
297642 |
3.05 |
|
|
19976 |
0.20 |
|
|
19776 |
0.20 |
|
|
200 |
0.00 |
|
|
2146727 |
21.98 |
|
Total Public
shareholding (B) |
3802329 |
38.93 |
|
Total (A)+(B) |
9767080 |
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) |
9767080 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pumps and pumping systems. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
V. Singhi and Associates Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Companies over
which key management personnel
or relatives are able to
exercise control/significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9860000 |
Equity Shares |
Rs.10/- each |
Rs.98.600 Million |
|
14000 |
11% Redeemable Cumulative Preference Shares |
Rs.100/-each |
Rs.1.400 Million |
|
|
Total |
|
Rs.100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7967080 |
Equity Shares |
Rs.10/- each |
Rs.79.671
Million |
Reconciliation of
Number of Shares
|
Particulars |
As at 31.03.2014 |
|
|
No. of Shares |
Rs. In Million |
|
|
Opening balance |
7967080 |
79.670 |
|
Changes during the year |
--- |
--- |
|
Closing balance |
7967080 |
79.670 |
Name of the
Shareholders holding more than 5% of the total shares issued by the Company
|
Particulars |
As at 31.03.2014 |
|
|
No. of Shares |
% of Holding |
|
|
Hindusthan Udyog Limited |
3861659 |
48.47 |
|
Ashutosh Enterprises Limited |
1906650 |
23.93 |
The Company has issued ordinary shares having a face value of Rs 10/- each. Each holder of ordinary share is entitled to one vote per share. The Company declares dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the Annual General Meeting.
In the event of liquidation of the company, the holder of ordinary shares will be entitled to receive any of the remaining assets of the company after distribution of all preferential amounts. The distribution will be in the proportion to the number of ordinary shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
79.671 |
79.671 |
79.671 |
|
(b) Reserves &
Surplus |
914.556 |
758.982 |
590.344 |
|
(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) |
994.227 |
838.653 |
670.015 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
202.228 |
301.721 |
380.956 |
|
(b) Deferred tax
liabilities (Net) |
33.597 |
29.469 |
27.222 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.868 |
7.047 |
6.296 |
|
Total Non-current
Liabilities (3) |
243.693 |
338.237 |
414.474 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
732.140 |
578.868 |
433.298 |
|
(b) Trade payables |
888.593 |
644.785 |
713.262 |
|
(c) Other current
liabilities |
269.380 |
564.266 |
248.374 |
|
(d) Short-term provisions |
34.115 |
29.507 |
29.579 |
|
Total Current Liabilities
(4) |
1924.228 |
1817.426 |
1424.513 |
|
|
|
|
|
|
TOTAL |
3162.148 |
2994.316 |
2509.002 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
328.962 |
280.332 |
293.396 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
4.335 |
17.034 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
379.536 |
378.923 |
82.765 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
55.883 |
51.610 |
51.577 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
768.716 |
727.899 |
427.738 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
243.908 |
257.457 |
298.874 |
|
(c) Trade receivables |
1814.544 |
1738.388 |
1592.002 |
|
(d) Cash and cash
equivalents |
9.941 |
24.166 |
17.813 |
|
(e) Short-term loans and
advances |
291.072 |
234.067 |
170.956 |
|
(f) Other current assets |
33.967 |
12.339 |
1.619 |
|
Total Current Assets |
2393.432 |
2266.417 |
2081.264 |
|
|
|
|
|
|
TOTAL |
3162.148 |
2994.316 |
2509.002 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2645.978 |
2686.834 |
3006.599 |
|
|
Other Income |
64.015 |
7.766 |
23.664 |
|
|
TOTAL |
2709.993 |
2694.600 |
3030.263 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1578.359 |
1736.547 |
2056.564 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
20.971 |
(25.016) |
(36.135) |
|
|
Employees benefits
expense |
192.092 |
182.269 |
171.822 |
|
|
Other expenses |
478.734 |
384.198 |
396.688 |
|
|
TOTAL |
2270.156 |
2277.998 |
2588.939 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
439.837 |
416.602 |
441.324 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
177.137 |
124.240 |
125.195 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
262.700 |
292.362 |
316.129 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
21.462 |
20.456 |
19.749 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
241.238 |
271.906 |
296.380 |
|
|
|
|
|
|
|
Less |
TAX |
69.494 |
84.406 |
97.906 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
171.744 |
187.500 |
198.474 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
252.259 |
239.686 |
209.731 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
150.000 |
156.285 |
150.000 |
|
|
Dividend |
15.951 |
18.642 |
18.519 |
|
|
Total |
165.951 |
174.927 |
168.519 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
258.052 |
252.259 |
239.686 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
224.645 |
125.052 |
74.579 |
|
|
Machinery |
24.107 |
12.206 |
9.711 |
|
|
TOTAL IMPORTS |
248.752 |
137.258 |
84.290 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
21.56 |
23.53 |
24.91 |
Expected Sales (2014-15): Rs.2800.000 Million
The above information has been parted by Mr. Parth Banerjee (Account
Manager).
QUARTERLY RESULTS
|
Particulars (Rs.
In Million) |
30.06.2014 1st Quarter |
30.09.2014 2nd Quarter |
31.12.2014 3rd Quarter |
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
530.000 |
620.600 |
558.900 |
|
Total Expenditure |
446.700 |
519.700 |
494.400 |
|
PBIDT (Excl OI) |
83.300 |
101.000 |
64.500 |
|
Other Income |
4.800 |
7.200 |
5.100 |
|
Operating Profit |
88.100 |
108.200 |
69.600 |
|
Interest |
33.300 |
36.500 |
32.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
54.800 |
71.600 |
37.100 |
|
Depreciation |
7.400 |
8.000 |
7.400 |
|
Profit Before Tax |
47.400 |
63.600 |
29.600 |
|
Tax |
16.000 |
21.800 |
18.100 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
31.400 |
41.900 |
11.500 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
31.400 |
41.900 |
11.500 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.49 |
6.98 |
6.60 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
16.62 |
15.51 |
14.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.68 |
10.46 |
12.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.32 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.94 |
1.05 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.25 |
1.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
79.671 |
79.671 |
79.671 |
|
Reserves & Surplus |
590.344 |
758.982 |
914.556 |
|
Net worth |
670.015 |
838.653 |
994.227 |
|
|
|
|
|
|
long-term borrowings |
380.956 |
301.721 |
202.228 |
|
Short term borrowings |
433.298 |
578.868 |
732.140 |
|
Total borrowings |
814.254 |
880.589 |
934.368 |
|
Debt/Equity ratio |
1.215 |
1.050 |
0.940 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
3006.599 |
2686.834 |
2645.978 |
|
|
|
(10.635) |
(1.521) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
3006.599 |
2686.834 |
2645.978 |
|
Profit |
198.474 |
187.500 |
171.744 |
|
|
6.60% |
6.98% |
6.49% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
From Corporate Bodies |
151.500 |
200.000 |
|
SHORT TERM
BORROWING |
|
|
|
Short Term Loans from : Bank |
0.000 |
92.660 |
|
Total |
151.500 |
292.660 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10347520 |
16/03/2012 |
150,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
One Forbes, Dr. V.
B. Gandhi Marg, Fort, Mumbai, |
B36958189 |
|
2 |
10353533 |
16/03/2012 |
200,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
One Forbes, Dr. V.
B. Gandhi Marg, Fort, Mumbai, |
B38878575 |
|
3 |
10226338 |
15/11/2014 * |
83,500,000.00 |
CENTRAL BANK OF INDIA |
Kolkata Main Branch, 33, Netaji Subhas Road, Kolkata, West Bengal - 700001, INDIA |
C38024865 |
|
4 |
10221162 |
14/06/2013 * |
659,600,000.00 |
STATE BANK OF INDIA |
Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, INDIA |
B78023660 |
|
5 |
10148965 |
28/06/2013 * |
2,675,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
CNW Park Street Branch, 20B, Park Street, Kolkata, West Bengal - 700016, INDIA |
B81330920 |
|
6 |
10120548 |
13/12/2010 * |
650,000,000.00 |
IDBI Bank Limited |
Kolkata Main Branch(MCG), IDBI House, 44 Shakespeare Sarani, Kolkata, West Bengal - 700017, INDIA |
B02922698 |
|
7 |
10120756 |
06/11/2012 * |
180,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA |
B65075822 |
|
8 |
10097302 |
16/01/2008 |
212,500,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR, KOLKATA, West Bengal - 700001, INDIA |
A35586791 |
|
9 |
80031404 |
22/12/2010 * |
1,079,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
Ballygunge Branch,, 204, Rashbehari Avenue, Kolkata, West Bengal - 700029, INDIA |
B03612850 |
* Date of charge modification
OPERATIONS
The operations of the Company were again consistent in the face of poor external environment. It was quite creditable to maintain revenues and bottom line in a situation with severe deterioration in infrastructural and industrial environment coupled with liquidity crunch and high interest rates. The Company retained focus on margins even at the expense of growth. It is also commendable that the performance has been consistent across all divisions of the Company establishing maturity in operations. The Company has been constantly moving up the value-chain with a focus on delivering superior quality products and services in India and abroad. The Company re-committed its strategies and organizational architecture to aggressively drive and maintain profitability across all business verticals. The Operational Results demonstrate Company’s ability to identify, nurture and sustain growth opportunities resulting a strong platform for future growth. Market expansion, infrastructural resources, technical capabilities and domain expertise acquired over several years continues to be the growth engine of the Company. The Company has created a reliable and well-known brand which has immensely contributed to the continuance of consistent growth over the past few years.
While the Company is strongly positioned in its traditional area of manufacturing sophisticated pumps, spares and turnkey execution of water handling projects, its capabilities have strengthened significantly. As a result the Company today serves markets that are much larger than ever before. The Company unique ability in providing innovative technology has resulted in becoming a market leader in it’s carefully business segments in India and a major player in international markets for its outstanding business performance. The Company has been able to leverage cutting-edge technology through its in-house Research and Development. This has paid rich dividends and resulted in increased business, improving the Company’s position further, in the markets it serves. The Company is in a position of remarkable strength, in the select high growth verticals-irrigation, power, Oil & Gas and industrial sectors. The Company with a view to further strengthen its business and offerings continues to be in the lookout acquiring companies, key technologies and assets of reputed companies.
FUTURE OUTLOOK
The company being one of the leaders in the pump industry foresees good growth in both domestic and International business and expects the focus on diversification across product categories and geographies to be the major driver. Domestically, the country is poised on the brink of economic recovery and a strong government is expected to drive infrastructural growth. This should result in growth across all the company product sectors. Similarly, internationally the economies of Europe are strengthening and Africa is the new high growth destination. Hence, the International operations are bound to support the domestic growth to help WPIL achieve its potential.
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND NINE MONTHS PERIOD ENDED
31ST DECEMBER 2014
(Rs. In Millions)
|
Particulars |
3 Months Ended ( Unaudited) |
Nine Months Ended ( Unaudited) |
|
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
1. Income from
operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
556.334 |
610.733 |
1685.631 |
|
b) Other operating income |
2.549 |
9.885 |
23.881 |
|
Total income from
Operations(net) |
558.883 |
620.618 |
1709.512 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
311.127 |
330.973 |
956.144 |
|
b) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
20.960 |
16.040 |
43.776 |
|
c) Employees benefit expenses |
53.776 |
48.202 |
148.973 |
|
d) Depreciation and amortization expenses |
7.442 |
8.029 |
22.880 |
|
e) Other expenditure |
108.563 |
124.481 |
311.930 |
|
Total expenses |
501.867 |
527.705 |
1483.703 |
|
3. Profit from
operations before other income and financial costs |
57.016 |
92.913 |
226.809 |
|
4. Other income |
5.092 |
7.222 |
17.082 |
|
5. Profit from
ordinary activities before finance costs |
62.108 |
100.136 |
242.891 |
|
6. Finance costs |
32.502 |
36.538 |
102.325 |
|
7. Profit from
ordinary activities before tax Expense: |
29.608 |
63.597 |
140.586 |
|
8.Tax expenses |
|
|
|
|
-Current Tax |
10.600 |
21.300 |
47.900 |
|
-Deferred Tax |
7.464 |
0.452 |
7.902 |
|
-Tax adjustment for previous year |
0.000 |
0.000 |
0.000 |
|
9.Net Profit /
(Loss) from ordinary activities after tax (9-10) |
11.542 |
41.845 |
84.764 |
|
10.Paid-up equity share capital (Nominal value Rs.10/- per share) |
97.671 |
79.671 |
97.671 |
|
11. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
--- |
--- |
--- |
|
12.Basic and Diluted Earnings Per Share for the period, for the year to date and for the previous year (not annualized) |
1.39 |
5.25 |
10.49 |
|
Particulars |
3 Months Ended ( Unaudited) |
Nine Months Ended (Unaudited) |
|
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|
A.
Particulars of shareholding |
|
|
|
|
1.
Public Shareholding |
|
|
|
|
- Number of shares |
3802329 |
2002329 |
3802329 |
|
- Percentage of shareholding |
38.93 |
25.13 |
38.93 |
|
2.
Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
--- |
--- |
--- |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
--- |
--- |
--- |
|
Percentage of shares (as a % of total share capital of the
company) |
--- |
--- |
--- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
5964751 |
5964751 |
5964751 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
61.07 |
74.87 |
61.07 |
|
|
|
|
|
|
B.
Investor Complaints |
|
||
|
Pending at the beginning of the quarter |
0 |
||
|
Receiving during the quarter |
1 |
||
|
Disposed of during the quarter |
1 |
||
|
Remaining unreserved at the end of the quarter |
0 |
||
Note:
- Segment reporting as defined in Accounting Standard - 17 is not applicable, since the operation of the Company relates to a single primary business segment i.e. Pumps.
- The Company has issued and allotted 18,00,000 Equity Shares of the Face value of Rs 10/- each at a premium of Rs. 549.40 per share on December 15, 2014 on preferential basis to the institutional investors. Consequently, the Share Capital account and Securities Premium Reserve of the Company has increased by Rs. 18000000/- and Rs. 988920000/- respectively.
- Figures for the previous period / year have been re-arranged / re-grouped wherever found necessary.
- The Statutory Auditors' have conducted a Limited Review of the above result as required by the Listing Agreements with Stock Exchanges.
- The foregoing statement of Unaudited Financial Results have been taken on record and approved by the Audit Committee and by the Board of Directors of the Company at their respective meetings held on 2nd February, 2015.
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Factory Equipment
- Patterns and
Moulds
- Electrical
Installation
- Furniture and
Fittings
- Motor
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.92.49 |
|
Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.