MIRA INFORM REPORT
|
Report No. : |
352659 |
|
Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INOX AIR PRODUCTS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
INOX AIR PRODUCTS
LIMITED INDUSTRIAL OXYGEN COMPANY LIMITED INDUSTRIAL
OXYGEN COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Ceejay House, Dr. Annie Beasant Road, Worli,
Mumbai - 400018, Maharashtra |
|
Tel. No.: |
91-22-40323195/40323960 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
04.04.1963 |
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|
|
|
Com. Reg. No.: |
11-012625 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.103.407
Million |
|
|
|
|
IEC No.: |
0388075279 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24999MH1963PTC012625 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEI00043B |
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|
|
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PAN No.: [Permanent Account No.] |
AAACI5569D |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Industrial and Medical Gases viz. Oxygen, Nitrogen, Argon, Helium, Acytelene (DA), Nitrous Oxide, Speciality Gas mixtures etc. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
650 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was established in the year 1963 and it is engaged in the manufacture,
trading and supply of industrial and medical gases, viz, oxygen, nitrogen,
argon, hydrogen, helium, acetylene (DA) nitrous oxide and specialty gas
mixtures. The gases supplied by the company find application in steel, auto
components, chemicals, food processing, packaging, medical and pharmaceutical
etc. For the financial year ended 2014, company has reported 12.30% sales
turnover growth as compared to previous sales turnover and it has maintained
decent profitability margins at 15.60% during the year under a review. Rating continues to derive strength from the long track record and
extensive experience of the promoters and the management in the industrial
and medical gas business, the company’s strong foothold in Indian market for industrial
gases, diversified revenue profile and long term contracts with onsite
customers providing revenue visibility. However, rating strength is partially offset by the capital intensive
and competitive nature of the industrial gas business. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 Non – Convertible Debenture : Aa |
|
Rating Explanation |
Have high degree of safety and carry very low credit risk. |
|
Date |
28.01.2015 |
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
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ajit More |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-40323195 |
|
Date : |
27.11.2015 |
LOCATIONS
|
Registered Office : |
7th Floor, Ceejay House, Dr. Annie Besant Road, Worli,
Mumbai - 400018, Maharashtra, India |
|
Tel. No.: |
91-22-40323195/40323960 |
|
Fax No.: |
91-22-40323191/ 40323991 |
|
E-Mail : |
|
|
Website : |
http://www.inoxairproducts.com |
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory 1 : |
Raj Bhavan Road, Somajiguda, 6-3-902 / D / 202, F No.202, Durga
Apartments, Hyderabad, Telangana, India |
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|
|
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Factory 2 : |
Village Kunjhal, Industrial Area, Barotiwala, District Solan-174103, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-271127/ 271128 |
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Fax No.: |
91-1795-271115 |
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Factory 3: |
Plot No 38, IDA, Phase - I, Pashamlaram Patancheru Mandal, Medak -
502307, Hyderabad, Telangana, India |
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Admin Office: |
Flat No.104, 4th Floor, Plot No. 1098, Jubille Hills,
Hyderabad, Telangana, India |
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Sales Centers and Depots : |
Located At · Ahmedabad · Andaman and Nicobar Islands · Telangana · Bangalore · Bharuch · Surat · Vadodara · Jharkhand · Bellary · Bhopal · Indore · Alwar · Bhandara · Nagpur · Navi Mumbai · Raigad · Mumbai · Pune · Boisar · Thane · Wardha · Punjab · Tamilnadu · Uttar Pradesh · West Bengal |
|
|
|
|
Branch Office : |
4th Floor ABS Towers Old Padre Road Vadodara, Gujarat,
India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Pavan Kumar Jain |
|
Designation : |
Managing Director |
|
Address : |
Benzer Terrace, 94 Worli Sea Face, Mumbai – 4000018, Maharashtra, India |
|
Date of Birth/Age : |
17.05.1951 |
|
Qualification : |
B.E.(Chem.) |
|
Date of Appointment : |
17.10.2004 |
|
PAN No.: |
AAJPJ5851D |
|
DIN No.: |
00030098 |
|
|
|
|
Name : |
Mr. David Roy Edmondson |
|
Designation : |
Director |
|
Address : |
Lindfields Oast House Lane Farnham, United Kingdom |
|
Date of Birth/Age : |
12.01.1960 |
|
Date of Appointment : |
14.12.2011 |
|
DIN No.: |
02544317 |
|
|
|
|
Name : |
Bruce Allan Schult |
|
Designation : |
Director |
|
Address : |
22, Woodgrove Avenue, Singapore 738064 |
|
Date of Birth/Age : |
05.11.1965 |
|
Qualification : |
B.Sc. and Mechanical Engineer |
|
Date of Appointment : |
22.09.2009 |
|
DIN No.: |
02796080 |
|
|
|
|
Name : |
Mr. Mark Anton Stoelinga |
|
Designation : |
Director |
|
Address : |
Flat No. 201, Building – D, Water Front, Near Gold GYM, Kalyani Nagar, Pune – 411006, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1966 |
|
Qualification : |
M.Sc. B.E.(Chem.) |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06474492 |
|
|
|
|
Name : |
Mr. Vivek Kumar Jain |
|
Designation : |
Director |
|
Address : |
47, Golf Links, New Delhi-110003, India |
|
Date of Birth/Age : |
30.08.1955 |
|
Date of Appointment : |
31.12.1984 |
|
DIN No.: |
00029968 |
|
|
|
|
Name : |
Mr. Subodh Kumar Jain |
|
Designation : |
Director |
|
Address : |
36, Golf Links, New Delhi – 110003, Delhi, India |
|
Date of Birth/Age : |
02.04.1952 |
|
Date of Appointment : |
17.07.1976 |
|
DIN No.: |
00031010 |
|
|
|
|
Name : |
Mr. Siddharth Jain |
|
Designation : |
Whole-time director |
|
Address : |
94, Benzar Terrace, Worli, Sea Face, Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1978 |
|
Qualification : |
B.E.(Mech.) |
|
Date of Appointment : |
20.05.2003 |
|
PAN No.: |
ACYPJ7083L |
|
DIN No.: |
00030202 |
|
|
|
|
Name : |
Mr. Corting F Stephen Henry Painter |
|
Designation : |
Director |
|
Address : |
4807 Leeds CT, Centre Calley, Pennsylvania 18034, USA |
|
Date of Birth/Age : |
18.10.1962 |
|
Date of Appointment : |
08.05.2014 |
|
DIN No.: |
06875271 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit More |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Mr. Narendra Mehra |
|
Designation : |
Company Secretary |
|
Address : |
Ceejay House, 7th Floor, Dr. A. B. Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
28.01.1954 |
|
Date of Appointment : |
02.06.2011 |
|
Pan No.: |
AAAPM1041K |
MAJOR SHAREHOLDERS
As on 29.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
As on 29.09.2014
|
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 |
49.74 |
|
Bodies corporate |
49.75 |
|
Other top fifty shareholders |
0.50 |
|
Other |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Industrial and Medical Gases viz. Oxygen, Nitrogen, Argon, Helium, Acytelene (DA), Nitrous Oxide, Speciality Gas mixtures etc. (Confirmed by management) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· European Countries · China · America |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
650 (Approximately) |
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Bankers : |
· The Royal Bank of Scotland N V Level 3, 4 North Avenue, Maker Maxity, Bandra Kurla Complex, Mumbai - 400051, Maharashtra, India · Standard Chartered Bank 23, Narain Manzil, Barakhamba Road, New Delhi - 110001, India · BNP Paribas 20, Collyer Quay, Tung Centre, Singapore - 049319, Singapore · Bank of Maharashtra 628/29 Sachpir Street, Camp Branch, Pune - 411001, Maharashtra, India · DBS Bank Limited |
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Facilities : |
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Auditors : |
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|
Name : |
Patankar and Associates Chartered Accountants |
|
Address : |
Office No. 19-23, 4th Floor, Goldwings, S. No.
118/A, Plot No. 543, Parvati Nagar, Sinhgad Road, Pune – 411030, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFP8926B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprise having
significant influence, its holding/associate companies: |
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|
Enterprise over
which key management personnel, or their relatives, have significant
influence: |
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Joint venture: |
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CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Million |
|
1500000 |
Preference Shares |
Rs. 100/- each |
Rs. 150.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 450.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10340697 |
Equity Shares |
Rs. 10/- each |
Rs. 103.407
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 |
103.407 |
103.407 |
103.407 |
|
(b) Reserves & Surplus |
12021.065 |
10628.252 |
9167.676 |
|
(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) |
12124.472 |
10731.659 |
9271.083 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8438.312 |
1947.424 |
2047.563 |
|
(b) Deferred tax liabilities
(Net) |
2116.670 |
1872.190 |
1537.986 |
|
(c) Other long term
liabilities |
473.821 |
406.408 |
389.848 |
|
(d) long-term provisions |
51.538 |
68.990 |
128.914 |
|
Total
Non-current Liabilities (3) |
11080.341 |
4295.012 |
4104.311 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
186.882 |
283.625 |
0.096 |
|
(b) Trade payables |
440.602 |
446.700 |
339.685 |
|
(c) Other current liabilities |
1783.438 |
1278.944 |
1267.784 |
|
(d) Short-term provisions |
115.095 |
168.293 |
139.539 |
|
Total
Current Liabilities (4) |
2526.017 |
2177.562 |
1747.104 |
|
|
|
|
|
|
TOTAL |
25730.830 |
17204.233 |
15122.498 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13696.788 |
12707.474 |
10088.140 |
|
(ii) Intangible Assets |
13.034 |
3.822 |
9.174 |
|
(iii) Capital work-in-progress |
191.786 |
1073.275 |
1041.562 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
276.438 |
271.963 |
150.030 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8107.236 |
691.250 |
890.252 |
|
(e) Other Non-current assets |
1.899 |
1.192 |
0.030 |
|
Total
Non-Current Assets |
22287.181 |
14748.976 |
12179.188 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.025 |
0.000 |
15.000 |
|
(b) Inventories |
654.921 |
577.311 |
478.256 |
|
(c) Trade receivables |
1316.010 |
1096.731 |
839.812 |
|
(d) Cash and cash equivalents |
665.717 |
164.579 |
1124.342 |
|
(e) Short-term loans and
advances |
440.903 |
527.010 |
469.828 |
|
(f) Other current assets |
366.073 |
89.626 |
16.072 |
|
Total
Current Assets |
3443.649 |
2455.257 |
2943.310 |
|
|
|
|
|
|
TOTAL |
25730.830 |
17204.233 |
15122.498 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
8750.231 |
7970.863 |
7,473.671 |
|
|
Other Income |
368.679 |
148.138 |
406.207 |
|
|
TOTAL
(A) |
9118.910 |
8119.001 |
7879.878 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
543.049 |
514.262 |
595.807 |
|
|
Purchases of Stock-in-Trade |
416.036 |
442.974 |
434.272 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.655) |
(18.884) |
(3.540) |
|
|
Employees benefits expense |
808.886 |
712.312 |
638.249 |
|
|
Other expenses |
3927.227 |
3434.128 |
2881.940 |
|
|
TOTAL
(B) |
5693.543 |
5084.792 |
4546.728 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
3425.367 |
3034.209 |
3333.150 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
447.789 |
136.338 |
162.412 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2977.578 |
2897.871 |
3170.738 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
917.204 |
800.276 |
700.057 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
2060.374 |
2097.595 |
2470.681 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
695.215 |
768.632 |
768.465 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
1365.159 |
1328.963 |
1702.216 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
118.415 |
249.942 |
207.817 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed dividend |
51.703 |
51.703 |
51.703 |
|
|
Tax on proposed dividend |
8.787 |
8.787 |
8.388 |
|
|
Transfer to Debenture
Redemption Reserve |
350.000 |
0.000 |
0.000 |
|
|
Transfer to General Reserve |
1000.000 |
1400.000 |
1600.000 |
|
|
Balance
Carried to the B/S |
73.084 |
118.415 |
249.942 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
8.072 |
1.716 |
3.541 |
|
|
Other Earnings |
0.000 |
0.000 |
0.353 |
|
|
TOTAL
EARNINGS |
8.072 |
1.716 |
3.894 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
155.817 |
149.352 |
|
|
Components and Stores parts |
NA |
22.855 |
40.395 |
|
|
Capital Goods |
NA |
823.202 |
699.514 |
|
|
TOTAL
IMPORTS |
NA |
1001.874 |
889.261 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
132.02 |
128.52 |
164.61 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
1024.552 |
706.666 |
951.961 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net
cash flows from (used in) operations |
3291.334 |
2456.135 |
3134.201 |
|
Net cash flow from operating activity |
3291.334 |
2456.135 |
3134.201 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
15.60 |
16.67 |
22.78 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
39.15 |
38.07 |
44.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.16 |
13.23 |
17.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.20 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.80 |
0.27 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.13 |
1.68 |
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 |
103.407 |
103.407 |
103.407 |
|
Reserves & Surplus |
9167.676 |
10628.252 |
12021.065 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
9271.083 |
10731.659 |
12124.472 |
|
long-term borrowings |
2047.563 |
1947.424 |
8438.312 |
|
Short term borrowings |
0.096 |
283.625 |
186.882 |
|
Current Maturities of
Long-Term Debts |
951.961 |
706.666 |
1024.552 |
|
Total
borrowings |
2999.620 |
2937.715 |
9649.746 |
|
Debt/Equity
ratio |
0.324 |
0.274 |
0.796 |
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 |
7473.671 |
7970.863 |
8750.231 |
|
|
|
6.653 |
9.778 |
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 |
7473.671 |
7970.863 |
8750.231 |
|
Profit |
1702.216 |
1328.963 |
1365.159 |
|
|
22.78% |
16.67% |
15.60% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Presentation Date:- |
05.05.2014 |
|
|||||||
|
Lodging No.:- |
ITXAL/948/2014 |
Filing Date:- |
05.05.2014 |
Reg. No.:- |
ITXA/1356//2014 |
Reg. Date:- |
02.09.2014 |
||
|
Petitioner:- |
THE COMMISSIONER OF TAX-I,PUNE |
|
Respondent:- |
INOX AIR PRODUCTS LIMITED |
||
|
VIPUL ARUN BAJPAYEE (I4135) |
|
|
CORPORATE INFORMATION
Subject is a closely held public Company and is a joint venture company between the Jain group and Air Products and chemical Inc., USA. The Company is engaged in the manufacture, trading and supply of industrial and medical gases including on job work / processing basis. The Company has also given plants on operating lease and earns operations and maintenance charges in respect of the said plants. The Company mainly caters to the domestic market.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term Borrowings |
|
|
|
Deferred payment liabilities |
25.666 |
31.847 |
|
Loans and advances from related parties |
292.300 |
270.300 |
|
Total |
317.966 |
302.147 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10523914 |
19/09/2014 |
1,500,000,000.00 |
SOCIETE GENERALE |
UPPER GROUND FLOOR,
AMBADEEP BUILDING, 14, KASTUR |
C25234584 |
|
2 |
10488969 |
28/03/2014 |
7,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND, |
C03026374 |
|
3 |
10417525 |
28/03/2013 |
545,000,000.00 |
THE ROYAL BANK OF SCOTLAND N V |
MAKER MAXITY, 4
NORTH AVENUE, BANDRA KURLA COMPLEX |
B72519309 |
|
4 |
10401702 |
09/05/2013 * |
554,800,000.00 |
STANDARD CHARTERED BANK |
23,NARAIN MANZIL,
BARAKHAMBA ROAD, NEW DELHI, DEL |
B75322222 |
|
5 |
10277095 |
10/03/2011 |
532,200,000.00 |
BNP PARIBAS |
20, COLLYER QUAY,
TUNG CENTRE,, SINGAPORE, - 049 |
B09583139 |
|
6 |
10243652 |
27/09/2010 |
135,000,000.00 |
BANK OF MAHARASHTRA |
628/629, SACHPIR
STREET,, CAMP BRANCH, PUNE, MAHA |
A96077201 |
|
7 |
10243648 |
27/09/2010 |
415,000,000.00 |
BANK OF MAHARASHTRA |
628/629, SACHPIR STREET,
CAMP BRANCH, PUNE, MAHAR |
A96077565 |
|
8 |
10239286 |
15/09/2010 |
372,400,000.00 |
DBS BANK LIMITED |
FORT HOUSE, 3RD
FLOOR,, 221, DR. D.N. ROAD, FORT, |
A94211620 |
|
9 |
10139022 |
20/01/2014 * |
90,200,000.00 |
THE ROYAL BANK OF SCOTLAND N V |
LEVEL 3, 4 NORTH
AVENUE, MAKER MAXITY, BANDRA KUR |
B94335502 |
|
10 |
90225333 |
15/04/2004 |
5,000,000.00 |
ABN AMRO BANK NV |
14 VEER NARIMAN POINT,
MUMBAI, MAHARASHTRA - 40002 |
- |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Claims against the Company not acknowledged as debts |
|
|
|
i) In respect of cases pending in Labour Courts for reinstatement with back wages |
Amount not ascertainable |
|
|
ii) Others |
110.058 |
87.121 |
|
B) Other |
|
|
|
(i) Relating to Fixed Assets (having effect on carrying amount of Fixed Assets) |
|
|
|
Excise duty and Service Tax |
16.824 |
16.824 |
|
Entry Tax |
1.468 |
1.468 |
|
Stamp Duty |
2.223 |
2.223 |
|
Total |
205.15 |
20.515 |
|
(ii) Others |
|
|
|
Excise duty & Service Tax |
487.176 |
500.278 |
|
Sales Tax |
43.840 |
6.247 |
|
Customs Duty |
0.489 |
0.489 |
|
Total |
531.505 |
507.014 |
|
Notes: |
|
|
|
1. Including matters where the Company has already received a decision in appellate proceedings in its favour on similar issue |
216.040 |
101.287 |
|
2. Amount paid against above liabilities and carried under Loans and Advances |
4.008 |
3.522 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- 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 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.66.61 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.