MIRA INFORM REPORT
|
Report No. : |
327020 |
|
Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VA TECH WABAG
LIMITED |
|
|
|
|
Registered
Office : |
“WABAG HOUSE” No.17, 200 Feet Thoraipakam Pallavram Main Road,
Sunnambu Kolthur, Chennai – 600117, Tamilnadu |
|
Tel no. : |
91-44-39232323 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
17.02.1995 |
|
|
|
|
Com. Reg. No.: |
18-30231 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 108.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45205TN1995PLC030231 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEV02389C |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Subject provided a comprehensive range of services which includes
Drinking Eater, Industrial Water, Waste Water, Sea and Brackish Water desalination
etc, for the public and private sectors. |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company providing turkey solutions for
water and waste treatment to municipal and industrial segments having fine
track record. Management has seen an increase in its sales volume during 2014. The company possesses a strong financial profile characterized by a
highly conservative capital structure, comfortable coverage indicators and
large cash reserves. The ratings also take into consideration the large receivables position
reported during the year under review and the favourable long term demand
prospects for waste water treatment project. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. It view of strong technical capabilities arising out of experienced
promoters and management, the subject 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 |
ICRA |
|
Rating |
Long Term fund based facilities: A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
September, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term non fund based facilities: A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
September, 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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Karthik |
|
Designation : |
Treasury |
|
Contact No.: |
91-44-39232458 |
|
Date : |
12.06.2015 |
LOCATIONS
|
Registered / Corporate Office : |
“WABAG HOUSE” No.17, 200 Feet Thoraipakam Pallavram Main Road,
Sunnambu Kolthur, Chennai – 600117, Tamilnadu, India |
|
Tel. No.: |
91-44-39232323 |
|
Fax No.: |
91-44-39232324 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Office 1 : |
|
|
Tel. No.: |
91-20-66424900 / 66424901 |
|
Fax No.: |
91-20-66424949 |
|
|
|
|
Regional Office 2 : |
Nagras Road, New DP Road, 1st Floor, Harsh Orchid Aundh
Pune – 411007, Maharashtra, India |
|
|
|
|
Regional Office 3 : |
Ec-33, Sector -1, 1st Floor, Salt Lake City, Kolkata-700064, Maharashtra,
India |
|
Tel. No.: |
91-33-23376779/ 23376778 |
|
Fax No.: |
91-33-23376779 |
|
|
|
|
Regional Office 4 : |
S-14, Second Floor, |
|
Tel. No.: |
91-11-41006634 / 41006635 / 41006636 |
|
Fax No.: |
91-11-41006637 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Bhagwan Dass Narang |
|
Designation : |
Independent Chairman |
|
Address : |
Flat No. 29, DDA Apartments, Pocket-F, SFS Scheme, Sheikh Sarai,
Phase-I, New Delhi-110017, |
|
Date of Birth/Age : |
12.04.1945 |
|
Date of Appointment : |
07.09.2009 |
|
DIN No. : |
00038052 |
|
|
|
|
Name : |
Mr. Rajiv Mittal |
|
Designation : |
Managing Director |
|
Address : |
No. 13A , Jeevarathinam Nagar, |
|
Date of Birth/Age : |
08.04.1960 |
|
Date of Appointment : |
27.09.2000 |
|
DIN No. : |
01299110 |
|
|
|
|
Name : |
Mr. Jaithirth Rao |
|
Designation : |
Independent Director |
|
Address : |
# 61, Umang, Kashibai Navrang Marg, Gamdevi, Mumbai-400007, |
|
Date of Birth/Age : |
12.07.1953 |
|
Date of Appointment : |
31.01.2007 |
|
DIN No. : |
00025289 |
|
|
|
|
Name : |
Mr. Sumit Chandwani |
|
Designation : |
Independent Director |
|
Address : |
2001, Era3, Marathon Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400
013, |
|
Date of Birth/Age : |
11.11.1967 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No. : |
00179100 |
|
|
|
|
Name : |
Mr. Revathi Kasturi |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. S. Varadarajan |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Rajiv Balakrishnan |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Karthik |
|
Designation : |
Treasury |
SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3031999 |
11.17 |
|
|
3031999 |
11.17 |
|
|
|
|
|
|
4854703 |
17.89 |
|
|
4854703 |
17.89 |
|
Total shareholding
of Promoter and Promoter Group (A) |
7886702 |
29.06 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
5865758 |
21.61 |
|
|
48863 |
0.18 |
|
|
6457 |
0.02 |
|
|
8047959 |
29.65 |
|
|
13969037 |
51.47 |
|
|
|
|
|
|
1759225 |
6.48 |
|
|
|
|
|
|
2543926 |
9.37 |
|
|
64000 |
0.24 |
|
|
919665 |
3.39 |
|
|
115102 |
0.42 |
|
|
53505 |
0.20 |
|
|
18598 |
0.07 |
|
|
732460 |
2.70 |
|
|
5286816 |
19.48 |
|
Total Public
shareholding (B) |
19255853 |
70.94 |
|
Total (A)+(B) |
27142555 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
27142555 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject provided a comprehensive range of services which includes
Drinking Eater, Industrial Water, Waste Water, Sea and Brackish Water
desalination etc, for the public and private sectors. |
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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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Purchasing : |
Cash, L/C, Cheque and Credit (60/90 Days) |
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Selling : |
Cash, L/C, Cheque and Credit (60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
·
ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda – 390 015, Gujarat,
India ·
State Bank of India Industrial Finance Branch, 155, Anna Salai, Chennai – 600002,
Tamilnadu, India ·
The HongKong and Shanghai Banking Corporation
Limited 76, Cathedral Road, Chennai-600086, Tamilnadu, India ·
YES Bank Limited ·
HDFC Bank Limited ·
IDBI Bank Limited ·
Punjab National
Bank ·
Societe Generale
Bank ·
ING VYSYA Bank ·
Standard Chartered Bank |
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Facilities : |
(Rs.
In Million)
|
|
Statutory Auditors : |
|
|
Name : |
Walker,
Chandiok and company Chartered Accountants |
|
Address : |
Arihant Nitco Park, 6th floor No.90, Dr. Radhakrishnan Salai Mylapore, Chennai - 600 004, Tamilnadu, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
Subsidiaries (As on 31.03.2014) : |
·
VA Tech Wabag (Singapore) Pte. Limited ·
VA Tech Wabag ·
WABAG Wassertechnik AG, ·
Va Tech Wabag Deutschland ·
VA Tech Wabag Brno. Spol. S.R.O, ·
Engenharia Hidraulica De Macau Limitada, Macao (upto
31.12.2012) ·
Wabag Water Services (Macao) Limited, Macao ·
Wabag Water Services s.e.l., ·
Va Tech Wabag ·
Va Tech Wabag (Hong Kong) Limited, Hongkong ·
Beijing Va Tech Wabag Water Treatment Technology
Company Limited, China ·
VA Tech Wabag Muscat LLC, Oman ·
VA Tech Wabag (Philippines) Inc., Philippines ·
VA Tech Wabag Algeria SARL, Algeria ·
VA Tech Wabag Tecknolojisi Ve Ticaret Limited, Turkey ·
VA Tech Wabag Egypt Limited, Egypt ·
VA Tech Wabag (Spain) S.L.U, Spain (Incorporated on 8 January 2013) ·
Ujams Wastewater Treatment Company (Pty) Limited, Namibia ·
VA Tech Wabag (Gulf) Contracting LLC, Dubai (Upto 31 March 2012) |
|
|
|
|
Associates (As on 31.03.2014) : |
· Windhoek Goreangab Operating Company Limited, Namibia |
|
|
|
|
Joint Ventures (As on 31.03.2014) :
|
· International Water Treatment LLC, Oman (Incorporated on 23 February 2013) |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 108.600
Million
After 21.07.2014
Authorised Capital: Rs. 150.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 54.154
Million
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50875000 |
Equity Shares |
Rs.2/- each |
Rs.101.800 Million |
|
4825000 |
Preference Shares |
Rs.10/- each |
Rs.48.200 Million |
|
|
|
|
|
|
|
Total |
|
Rs.150.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26592130 |
Equity Shares |
Rs.2/- each |
Rs.53.200
Million |
|
|
|
|
|
- Reconciliation of share capital (Equity)
|
Balance at the beginning of the year |
2,65,45,772 |
531 |
|
Add : Issued pursuant to Employee Stock Option Plan |
46,358 |
1 |
|
Balance at the end of the year |
2,65,92,130 |
532 |
Shareholders holding more than 5% of the aggregate shares in the
Company
|
|
Nos. |
% holding |
|
Equity Shares of Rs. 2 each |
|
|
|
Mr. Rajiv Mittal (Managing Director) |
48,54,703 |
18% |
|
IDFC Premier Equity Fund |
19,37,417 |
7% |
|
IDFC Premier Equity Fund |
15,84,552 |
6% |
|
Emerging Markets Growth Fund Inc. |
83,76,672 |
|
Details of shares
issued as fully paid up by way of bonus issues
|
Year |
Face value |
Bonus issue |
|
Equity Shares |
|
|
|
31 March 2010 |
5 |
10,39,629 |
d) Terms/ rights
attached to equity shares
The Company has issued only one class of equity shares having a face value of Rs.2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors, if any, is subject to the approval of the shareholders in the ensuing Annual General Meeting, except interim dividend.
In the event of liquidation, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.
During the year ended 31 March 2014, the amount of dividend per share, recognised as distributions to the equity
shareholders of face value Rs.2 each was Rs.8 (Previous year : Rs.7).
e) Shares reserved
for issue under options
The Company had reserved issuance of Equity shares 960,813 of Rs.2 each (Previous year : 899,131 shares of Rs.2 each) for offering to eligible employees of the Company and its subsidiaries under Employees Stock Option Plan (ESOP).
f) Employee share
based plan
Employee share based plan- ESOP 2006 Scheme
In August 2006, the Board of Directors approved and the Company adopted the “ESOP 2006” (the “Plan”) under which not more than 204,080 shares of the Company’s equity shares was reserved for issuance to employees. The Board of Directors determined that the options granted under the Plan would vest not less than one year and not more than five years from the date of grant. The exercise price of options shall be `200 (face value of `10 each) on the grant date. The exercise period of the options is 4 years.
|
Particulars |
Number of options |
Weighted average exercise price (`) |
|
Outstanding as at 01 April 2012 |
24,144 |
36 |
|
Exercised |
6,321 |
36 |
|
Outstanding as at 31 March 2013 |
17,823 |
36 |
|
Exercised |
11,814 |
36 |
|
Lapsed |
875 |
36 |
|
Outstanding as at 31 March 2014 |
5,134 |
36 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
108.600 |
53.200 |
53.100 |
|
(b) Reserves & Surplus |
6753.400 |
5975.100 |
5312.600 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
1.300 |
2.200 |
0.400 |
|
Total
Shareholders’ Funds (1) + (2) |
6863.300 |
6030.500 |
5366.100 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2046.200 |
1548.800 |
798.000 |
|
(d) long-term provisions |
168.600 |
73.700 |
55.200 |
|
Total
Non-current Liabilities (3) |
2214.800 |
1622.500 |
853.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
626.000 |
890.300 |
545.100 |
|
(b) Trade payables |
5575.300 |
5444.300 |
5335.600 |
|
(c) Other current liabilities |
968.100 |
1361.400 |
728.600 |
|
(d) Short-term provisions |
817.700 |
673.700 |
701.500 |
|
Total
Current Liabilities (4) |
7987.100 |
8369.700 |
7310.800 |
|
|
|
|
|
|
TOTAL |
17065.200 |
16022.700 |
13530.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
989.900 |
927.500 |
274.300 |
|
(ii) Intangible Assets |
0.000 |
91.400 |
117.600 |
|
(iii) Capital work-in-progress |
0.000 |
0.500 |
320.600 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
253.600 |
184.200 |
153.600 |
|
(c) Deferred tax assets (net) |
200.900 |
104.700 |
87.000 |
|
(d) Long-term Loan and Advances |
95.500 |
9.700 |
32.000 |
|
(e) Other Non-current assets |
2088.600 |
1970.000 |
1327.100 |
|
Total
Non-Current Assets |
3628.500 |
3288.000 |
2312.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
350.000 |
200.000 |
0.000 |
|
(b) Inventories |
298.300 |
144.200 |
158.700 |
|
(c) Trade receivables |
9833.100 |
9236.800 |
7823.300 |
|
(d) Cash and cash equivalents |
1282.600 |
1564.300 |
1713.700 |
|
(e) Short-term loans and
advances |
741.700 |
735.300 |
909.300 |
|
(f) Other current assets |
931.000 |
854.100 |
612.900 |
|
Total
Current Assets |
13436.700 |
12734.700 |
11217.900 |
|
|
|
|
|
|
TOTAL |
17065.200 |
16022.700 |
13530.100 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
12333.600 |
11522.400 |
10,571.70 |
|
|
Other Income |
0.000 |
116.300 |
125.6 |
|
|
TOTAL
(A) |
12333.600 |
11638.700 |
10697.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of sales and Services |
9576.600 |
8671.800 |
7981.800 |
|
|
Decrease in inventories |
(154.100) |
14.500 |
190.500 |
|
|
Employees benefits expense |
806.000 |
801.900 |
688.700 |
|
|
Other expenses |
568.500 |
623.300 |
322.300 |
|
|
TOTAL
(B) |
10797.000 |
10111.500 |
9183.300 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1536.600 |
1527.200 |
1514.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
102.000 |
123.600 |
115.200 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1434.600 |
1403.600 |
1398.800 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
74.500 |
80.900 |
66.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1360.100 |
1322.700 |
1332.700 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
456.000 |
436.900 |
431.600 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
904.100 |
885.800 |
901.100 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
3486.700 |
2512.300 |
1918.700 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
NA |
(88.600) |
90.100 |
|
|
Proposed Dividend (Including Dividend Tax) |
NA |
0.000 |
217.400 |
|
|
Total
(M) |
NA |
(88.600) |
307.500 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
4390.800 |
3486.700 |
2512.300 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
3180.800 |
1850.400 |
|
|
TOTAL
EARNINGS |
NA |
3180.800 |
1850.400 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
694.700 |
2358.500 |
|
|
Components and Stores parts |
|
3.600 |
0.000 |
|
|
Capital Goods |
NA |
0.000 |
0.000 |
|
|
TOTAL
IMPORTS |
|
698.300 |
2358.500 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
16.59 |
33.30 |
34.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
705.700 |
1402.800 |
QUARTERLY RESULTS
|
PARTICULARS |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
|
|
|
|
|
Net Sales |
2360.900 |
2960.300 |
5717.500 |
|
2360.900Total Expenditure |
2132.300 |
2639.500 |
4898.900 |
|
PBIDT (Excl OI) |
228.600 |
320.800 |
818.600 |
|
Other Income |
0.00 |
NA |
NA |
|
Operating Profit |
228.600 |
320.800 |
818.600 |
|
Interest |
20.400 |
22.400 |
4.400 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
208.200 |
298.400 |
814.200 |
|
Depreciation |
33.300 |
32.500 |
33.00 |
|
Profit Before Tax |
174.900 |
265.900 |
781.200 |
|
Tax |
58.500 |
89.200 |
261.900 |
|
Provision and Contingencies |
NA |
NA |
NA |
|
Profit after tax |
116.400 |
176.700 |
519.300 |
|
Extraordinary items |
NA |
NA |
NA |
|
Prior period expenses |
NA |
NA |
NA |
|
Other adjustments |
NA |
NA |
NA |
|
Net Profit |
116.400 |
176.700 |
519.300 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
7.33 |
7.69 |
8.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
12.46 |
13.25 |
14.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.19 |
8.41 |
10.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.22 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.09 |
0.15 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68 |
1.52 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
53.100 |
53.200 |
108.600 |
|
Reserves & Surplus |
5312.600 |
5975.100 |
6753.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.400 |
2.200 |
1.300 |
|
Net
worth |
5366.100 |
6030.500 |
6863.300 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
545.100 |
890.300 |
626.000 |
|
Total
borrowings |
545.100 |
890.300 |
626.000 |
|
Debt/Equity
ratio |
0.102 |
0.148 |
0.091 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10571.700 |
11522.400 |
12333.600 |
|
|
|
8.993 |
7.040 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10571.700 |
11522.400 |
12333.600 |
|
Profit |
901.100 |
885.800 |
904.100 |
|
|
8.52% |
7.69% |
7.33% |
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 |
No |
|
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) |
No |
|
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 |
LITIGATIONS DETAILS
MADRAS HIGH COURT
|
Case Status : |
Pending (Pre-Admitted) |
||||||
|
Status of |
ORIGINAL PETITION |
||||||
|
M/S. BHARATH
INTEGRATED |
VA TECH WABAG LIMITED |
||||||
|
Petitoner
Adv. : |
M/S. NAJEEB USMAN KHAN |
||||||
|
Respondent
Adv. : |
|
||||||
|
Last Listed on : |
Not Available |
Last Listed on : |
No Date Mentioned |
||||
|
Vategory
: |
Section 11 |
||||||
|
|||||||
|
This Case is updated on : Thursday, January 29, 2015 |
|||||||
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10449852 |
29/08/2013 |
1,350,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,
155, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
B85313211 |
|
2 |
10053844 |
25/06/2012 * |
11,925,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, 155, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
B58406331 |
* Date of charge modification
FIXED ASSETS:
·
· Plant and Machinery
· Furniture and Fittings
· Electrical Equipments
· Office Equipments
· Computers
· 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 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.63.89 |
|
|
1 |
Rs.98.90 |
|
Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.