MIRA INFORM REPORT
|
Report No. : |
319120 |
|
Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
JOHN ENERGY LIMITED (13.04.1998) |
|
|
|
|
Formerly Known
As : |
JOHN EQUIPMENTS LIMITED (07.04.1998) JOHN EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 220, GIDC Estate, Mehsana – 384002, Gujarat |
|
Tel. No.: |
91- 79-26850132/ 2735/ 2736 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.10.1987 |
|
|
|
|
Com. Reg. No.: |
04-010044 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 265.465 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29224GJ1987PLC010044 |
|
|
|
|
IEC No.: |
0893008435 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ5184F FT001 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Service provider of drilling and boring equipment, oil field equipment
and tool rental, drilling work over and completion services. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
---- (Matter converted to CA/11470/2012) |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. The
company enjoys a respectable name in Onshore Drilling, Work-over and
completion services contractor in India. The company has maintained its pace with the industry and performed
well during FY2014. The company has decent profit margin during year under
review. However, liquidity position of the company is below average. Trade relations reported to be fair. Business is active. Payments are
reported to be usually correct. The company 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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. Jitendra Patel |
|
Designation : |
Deputy Manager - Finance |
|
Contact No.: |
91-79-26850132 |
|
Date : |
23.04.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 220, GIDC Estate, Mehsana – 384002, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Corporate Office : |
101, Shapath III, S. G, Highway, Ahmedabad – 380053, Gujarat, India |
|
Tel. No.: |
91- 79-26850132/ 2735/ 2736 |
|
Fax No.: |
91-79-26850133 |
DIRECTORS
As on: 26.09.2014
|
Name : |
Mr. Maheshkumar Natvarlal Vyas |
|
Designation : |
Managing director |
|
Address : |
14, Ashwamegh Bunglows, Part-IV, 132 Ft Ring Road, Satellite, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
01.06.1957 |
|
Date of Appointment : |
09.10.1987 |
|
PAN No.: |
AAMPV3026D |
|
DIN No.: |
00432810 |
|
|
|
|
Name : |
Mr. Dilipkumar Natvarlal Vyas |
|
Designation : |
Whole-time director |
|
Address : |
19, Suramya Society, Next Kanak Guest House, Mehsana-384002, Gujarat, India |
|
Date of Birth/Age : |
01.01.1964 |
|
Date of Appointment : |
09.10.1987 |
|
PAN No.: |
AAMPV4699N |
|
DIN No.: |
00432971 |
|
|
|
|
Name : |
Mr. Chiragkumar Maheshkumar Vyas |
|
Designation : |
Whole-time director |
|
Address : |
14, Ashwamegh Bunglows, Part-IV, 132 Ft Ring Road, Satelite, Ahmedabad-380051, Gujarat, India |
|
Date of Birth/Age : |
09.11.1981 |
|
Date of Appointment : |
01.07.2004 |
|
PAN No.: |
ABYPV5751G |
|
DIN No.: |
00432916 |
|
|
|
|
Name : |
Mr. Rajiv Ambrish Agarwal |
|
Designation : |
Director |
|
Address : |
Chamaria Niwas, 3rd Floor, 41, Mahant Road, Vile Parle (East), Mumbai-400057, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1971 |
|
Date of Appointment : |
08.05.2008 |
|
DIN No.: |
00379990 |
|
|
|
|
Name : |
Mr. Natwarlal Meghjibhai Patel |
|
Designation : |
Director |
|
Address : |
6-B, Ashok Vatika No.1, Opp. Ekta Farm, Ambli, Bopal Road, Bodakdev, Ahmedabad-380058, Gujarat, India |
|
Date of Birth/Age : |
01.06.1953 |
|
Date of Appointment : |
27.02.2009 |
|
DIN No.: |
00027540 |
|
|
|
|
Name : |
Mr. Ravi Kapoor |
|
Designation : |
Director |
|
Address : |
202, Pravesh, 10, Mahadevnagar Society, Sardar Patel, Ahmedabad-380014, Gujarat, India |
|
Date of Birth/Age : |
25.07.1963 |
|
Date of Appointment : |
27.02.2009 |
|
DIN No.: |
00003847 |
|
|
|
|
Name : |
Mr. Asesh Jyoti Dutta |
|
Designation : |
Director |
|
Address : |
1/357, Jodhpur Park, Kolkata-700068, West Bengal, India |
|
Date of Birth/Age : |
22-12-1966 |
|
Date of Appointment : |
16.11.2011 |
|
DIN No.: |
02819704 |
|
|
|
|
Name : |
Mr. Chaman Kumar |
|
Designation : |
Director |
|
Address : |
Bungalow No. 80, New Moti Bagh, New Delhi - 110023, Delhi, India |
|
Date of Birth/Age : |
03.12.1951 |
|
Date of Appointment : |
09.06.2014 |
|
DIN No.: |
02064012 |
|
|
|
|
Name : |
Ms. Meena Kantilal Bhatt |
|
Designation : |
Director |
|
Address : |
64/1, Sector-2, Gandhinagar, Gandhinagar - 382002, Gujarat |
|
Date of Birth/Age : |
03.12.1951 |
|
Date of Appointment : |
09.06.2014 |
|
DIN No.: |
06884949 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Ghuwalewala |
|
Designation : |
Company Secretary |
|
Address : |
41/490, Amrapali Flats, Bapunagar, Ahmedabad-380024, Gujarat |
|
Date of Birth/Age : |
27.11.1973 |
|
Date of Appointment : |
05.05.2008 |
|
PAN No.: |
AFJPG9369J |
|
|
|
|
Name : |
Mr. Jitendra Patel |
|
Designation : |
Deputy Manager - Finance |
|
|
|
|
Name : |
Mr. Jayesh Lalit Asher |
|
Designation : |
Chief Finance Executive |
|
Address : |
30 C, Bhulabhai Desai Road, Mahalaxmi, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.03.1965 |
|
Date of Appointment : |
09.06.2014 |
|
PAN No.: |
ABBPA4164D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.09.2014
SHAREHOLDER FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
16.40 |
|
Bodies corporate |
16.77 |
|
Directors or relatives of Directors |
39.79 |
|
Other top fifty shareholders |
27.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service provider of drilling and boring equipment, oil field equipment
and tool rental, drilling work over and completion services. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit (30/60/90 Days) |
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Purchasing : |
Cash and Credit (30/60/90 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
Note: LONG TERM: Term loans from banks including current maturities thereof are secured by hypothecation of movable fixed assets of the Company including machinery spares, tools and accessories, escrow accounts for certain rigs and personal guarantees of certain directors. Certain term loans are further secured by current assets, mortgage of land and building, residential properties of the directors, assignment of key man insurance policies, land and building and Corporate Guarantee of John Oil and Gas Limited, company under the same management. Terms loans from others including current maturities thereof are secured by hypothecation of the equipment purchased there against. Vehicle loans from banks including current maturities thereof are secured by hypothecation of the vehicles financed. Rate of interest ranges from 2% to 15% p.a and Maturity profile of long term borrowings is set out below: Maturity Profit 1-2 years 2-3 years Beyond 3 years Term loans and other loans and advances 828.213 617.830 1368.443 Previous year (684.423) (683.476) (1329.635) SHORT TERM: Working capital loan repayable on demand are secured by first pari passu change on all movable fixed assets of the company and personal guarantee of certain directors of certain directors. Certain working capital loans are also secured by mortgage of land, building, residential properties of the directors, assignment of key insurance policies, land and building and corporate guarantee of John Oil and Gas Limited, company under the same management. . Rate of interest ranges from 10% to 15% p.a |
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
14A, Satyadeep CHS, Sambhaji Path, VI Shnu Nagar, Naupada,Thane-400602, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFD2337G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company |
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|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
·
John Oil And Gas Limited (U15147GJ1994PLC023496) |
CAPITAL STRUCTURE
As on 26.09.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,556,000 |
Equity Shares |
Rs.10/- each |
Rs. 305.560 Million |
|
900,003 |
Preference shares |
Rs.100/- each |
Rs. 90.000 Million |
|
|
Total
|
|
Rs. 440.560
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
17,546,487 |
Equity Shares |
Rs.10/- each |
Rs. 175.465 Million |
|
900,003 |
Preference shares |
Rs.100/- each |
Rs. 90.000 Million |
|
|
Total
|
|
Rs. 265.465
Million |
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 |
265.465 |
375.491 |
375.491 |
|
(b) Reserves & Surplus |
4669.389 |
4173.294 |
3731.317 |
|
(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) |
4934.854 |
4548.785 |
4106.808 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2814.486 |
2697.533 |
2247.257 |
|
(b) Deferred tax liabilities (Net) |
847.385 |
719.088 |
485.114 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.423 |
0.931 |
0.617 |
|
Total Non-current
Liabilities (3) |
3663.294 |
3417.552 |
2732.988 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1268.404 |
1173.308 |
1077.116 |
|
(b) Trade payables |
717.199 |
806.634 |
1015.886 |
|
(c) Other
current liabilities |
1211.476 |
2334.378 |
876.585 |
|
(d) Short-term
provisions |
223.072 |
129.438 |
67.580 |
|
Total Current
Liabilities (4) |
3420.151 |
4443.758 |
3037.167 |
|
|
|
|
|
|
TOTAL |
12018.299 |
12410.095 |
9876.963 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8533.805 |
6845.303 |
5149.211 |
|
(ii)
Intangible Assets |
10.813 |
21.000 |
31.391 |
|
(iii)
Capital work-in-progress |
0.000 |
1357.302 |
802.530 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.552 |
1.180 |
4.180 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
606.440 |
506.290 |
1176.200 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
9155.610 |
8731.075 |
7163.512 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
678.560 |
589.896 |
629.699 |
|
(c) Trade
receivables |
1173.484 |
1463.758 |
1331.433 |
|
(d) Cash
and cash equivalents |
482.548 |
325.029 |
311.336 |
|
(e)
Short-term loans and advances |
140.433 |
1294.459 |
440.983 |
|
(f) Other
current assets |
387.664 |
5.878 |
0.000 |
|
Total
Current Assets |
2862.689 |
3679.020 |
2713.451 |
|
|
|
|
|
|
TOTAL |
12018.299 |
12410.095 |
9876.963 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5188.477 |
4289.942 |
3883.063 |
|
|
|
Other Income |
14.630 |
74.220 |
111.447 |
|
|
|
TOTAL (A) |
5203.107 |
4364.162 |
3994.510 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5.874 |
6.882 |
45.921 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.255 |
(0.005) |
|
|
|
Employees benefits expense |
590.716 |
492.592 |
405.528 |
|
|
|
Other expenses |
3007.921 |
2489.009 |
2451.316 |
|
|
|
TOTAL
(B) |
3604.511 |
2988.738 |
2902.760 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1598.596 |
1375.424 |
1091.750 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
422.087 |
381.912 |
391.404 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1176.509 |
993.512 |
700.346 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
349.339 |
263.783 |
211.355 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
827.170 |
729.729 |
488.991 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
245.500 |
279.974 |
156.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
581.670 |
449.755 |
332.968 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1547.226 |
1105.249 |
782.960 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption
Reserve |
110.267 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
58.167 |
0.000 |
0.000 |
|
|
|
Proposed Dividend on Equity
Shares |
69.778 |
6.649 |
9.188 |
|
|
|
Proposed Dividend on
Preference Shares |
3.160 |
0.000 |
0.000 |
|
|
|
Corporate Dividend Tax |
12.396 |
1.131 |
1.491 |
|
|
BALANCE CARRIED
TO THE B/S |
1875.128 |
1547.224 |
1105.249 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
4189.478 |
3573.558 |
2492.350 |
|
|
TOTAL EARNINGS |
4189.478 |
3573.558 |
2492.350 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Stores parts |
454.214 |
488.768 |
494.957 |
|
|
|
Capital Goods |
224.235 |
1596.153 |
849.912 |
|
|
TOTAL IMPORTS |
678.449 |
2084.921 |
1344.869 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
33.13 |
25.34 |
19.09 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
5500.000 |
|
|
|
|
|
The above information has been parted by Mr.
Jitendra Patel (Deputy Manager – Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
11.21 |
10.48 |
8.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
30.81 |
32.06 |
28.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.89 |
6.60 |
5.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.16 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.83 |
0.85 |
0.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84 |
0.83 |
0.89 |
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 |
375.491 |
375.491 |
265.465 |
|
Reserves & Surplus |
3731.317 |
4173.294 |
4669.389 |
|
Net worth |
4106.808 |
4548.785 |
4934.854 |
|
|
|
|
|
|
long-term borrowings |
2247.257 |
2697.533 |
2814.486 |
|
Short term borrowings |
1077.116 |
1173.308 |
1268.404 |
|
Total borrowings |
3324.373 |
3870.841 |
4082.890 |
|
Debt/Equity ratio |
0.809 |
0.851 |
0.827 |
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 |
3883.063 |
4289.942 |
5188.477 |
|
|
|
10.478 |
20.945 |
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 |
3883.063 |
4289.942 |
5188.477 |
|
Profit |
332.968 |
449.755 |
581.670 |
|
|
8.57% |
10.48% |
11.21% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term debt |
740.062 |
615.422 |
NA
|
|
|
|
|
|
|
Total |
740.062 |
615.422 |
NA
|
|
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
REVIEW OF OPERATIONS:
Despite the ongoing economic slowdown in the financial year 2013-14, the company delivered robust revenue growth of around 19% over the previous year, driven by a strong order book and favorable currency movement. Due to rising cost pressures, the margins remained flattish, so profitability also grew in line with revenues. The company continued to generate strong operating cash flows and invest in revenue-generating assets that are expected to propel growth going forward.
DURING THE YEAR;
Total Income of the Company during the current year was Rs.5203.107 Million as against Rs.4364.163 Million in the previous year. The Profit before tax (PBT) during the year increased from Rs.729.729 Million to Rs.827.170 Million. The profit after tax (PAT) for the current year was Rs.581.670 Million as against Rs.449.755 Million in the previous year.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
172.400 |
97.000 |
|
|
|
|
|
Total |
172.400 |
97.000 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Guarantees |
842.831 |
|
Other money for which company is contingently liable |
341.885 |
|
Total |
1184.716 |
FIXED ASSETS:
- Land
- Building
- Factory building
- Plant and equipment
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Motor vehicles
- Computer equipments
- Goodwill
- Computer software
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.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.