MIRA INFORM REPORT

 

 

Report No. :

328430

Report Date :

23.06.2015

 

IDENTIFICATION DETAILS

 

Name :

WELSPUN INDIA LIMITED

 

 

Registered Office :

Welspun City, Village Versamedi, Anjar – 370110, Gujarat

Tel. No.:

91-22-24908000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

17.01.1985

 

 

Com. Reg. No.:

04-033271

 

 

Capital Investment / Paid-up Capital :

Rs. 1004.640 Million

 

 

CIN No.:

[Company Identification No.]

L17110GJ1985PLC033271

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Exporter of wide range of home textile products, terry towels, bed linen products and rugs.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (64)

 

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 :

Clear

 

 

Comments :

Subject is a prominent company of the Welspun group. It is one of the largest manufacturers and exporters of bed and bath textile products globally. It is a well-established company having fine track record.

 

Rating takes into consideration resourceful promoters and extensive experience of the management supported by WIL’s leading position in home textiles segment with global reach along with its well-diversified products portfolio and strong brand image.

 

Rating also takes into consideration company’s sound operational risk profile supported by sound financial base and adequate net worth base of the company.

 

Trade relations are fair. Business is active. Payment are reported to be regular and as per commitments.

 

In view of aforesaid, 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

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) DEFAILTERS’ 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 DENIED

 

Management non co-operative (Tel. No.: 91-9825149913)

 

 

LOCATIONS

 

Registered Office :

Welspun City, Village Versamedi, Taluka Anjar – 370110, Gujarat, India

Tel. No.:

91-2836-573428/9/279000

Fax No.:

91-2836-247070/279010

E-Mail :

companysecretary-will@welspun.com

Website :

http://www.welspun.com

 

 

Corporate Office :

Welspun House, 6th Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India

Tel. No.:

91-22-66136000/ 24908000

Fax No.:

91-22-24908020/ 24908021

E-Mail :

subrata_pal@welspun.com

 

 

Plant II :

Survey No. 76 Village and P.O. Morai, Vapi District Valsad, Gujarat – 396194, India

Tel. No.:

91-260-2437437

Fax No.:

91-260-2437088

Email :

wttvapi@welspun.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. B. K. Goenka

Designation :

Chairman

 

 

 

Name :

Mr. Dadi B. Engineer

 

Designation :

Director

 

 

 

 

Name :

Mr. A. K. Dasgupta

 

Designation :

Director

 

 

 

 

Name :

Mr. Ram Gopal Sharma

 

Designation :

Director

 

Qualification :

MA (Econ), B.Com and Fellow of Insurance Institute of India

 

 

 

 

Name :

Mr. Ajay Sharma

 

Designation :

Nominee – IDBI Bank

 

 

 

 

Name :

Mr. Arun Todarwal

 

Designation :

Director

 

 

 

 

Name :

Mr. R. R. Mandawewala

 

Designation :

Managing Director

 

 

 

 

Name :

Ms. Dipali Goenka

 

Designation :

Executive Director

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Shashikant Thorat

Designation :

Company Secretary

 

 

Audit Committee :
  • Mr. Ram Gopal Sharma
  • Mr. Dadi B. Engineer
  • Mr. A. K. Dasgupta
  • Mr. Arun Todarwal

 

 

Remuneration Committee:
  • Mr. A. K. Dasgupta
  • Mr. Dadi B. Engineer
  • Mr. Ram Gopal Sharma

 

 

Share Transfer and Investor Grievance Committee :
  • Mr. A. K. Dasgupta
  • Mr. B. K. Goenka
  • Mr. R. R. Man dawewala

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholder

No. of Shares

% of Holdings

(A) Shareholding of Promoter and Promoter Group              

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

344401

0.34

http://www.bseindia.com/include/images/clear.gifBodies Corporate

73483318

73.15

http://www.bseindia.com/include/images/clear.gifSub Total

73827719

73.49

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

73827719

73.49

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

4048563

4.03

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

909185

0.91

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

3563476

3.55

http://www.bseindia.com/include/images/clear.gifSub Total

8521224

8.48

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

6947837

6.92

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

4585720

4.56

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

6022721

6.00

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

554694

0.55

http://www.bseindia.com/include/images/clear.gifClearing Members

264992

0.26

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

135382

0.13

http://www.bseindia.com/include/images/clear.gifTrusts

2233

0.00

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

4489

0.00

http://www.bseindia.com/include/images/clear.gifUnclaimed Suspense A/c

139740

0.14

http://www.bseindia.com/include/images/clear.gifForeign Portfolio Investors

7858

0.01

http://www.bseindia.com/include/images/clear.gifSub Total

18110972

18.03

Total Public shareholding (B)

26632196

26.51

Total (A)+(B)

100459915

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

100459915

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of wide range of home textile products, terry towels, bed linen products and rugs.

 

 

Products :

ITC Code

Product Descriptions

63049250

Cotton Terry Towel

63041910

Cotton bed Sheet

52051100

Cotton Yarn

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • US
  • UK
  • Italy

 

 

Imports :

 

Products :

Machinery

Countries :
  • Italy
  • Germany

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

Unit

Actual Production

Towels

M.T.

41477.85

Bed Sheets

Million Mtrs

37.33

Cotton Yarn

M.T.

33507.06

Rugs

M.T.

4808.99

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Not Divulged

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

18000 (Approximately)

 

 

Bankers :
  • State Bank of Bikaner and Jaipur
  • State Bank of India
  • Punjab National Bank
  • Andhra Bank
  • Canara Bank
  • Exim Bank Limited
  • Bank of India
  • State Bank of Patiala
  • Bank of Baroda
  • Oriental Bank of Commerce
  • IDBI Bank Limited

 

 

Facilities :

(Rs. In Millions)

Secured Loan

 

As on

31.03.2014

Long-term Borrowings

 

 

Term Loans :

 

 

Rupee Term Loans from Banks

 

12513.690

Foreign Currency Loan from Bank

 

103.870

 

 

 

Short-term Borrowings

 

 

Working Capital Loans from Banks

 

7900.480

Total

 

20518.04

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries Companies (As on: 31.03.2013) :
  • Welspun AG (WAG) (Up to March 27, 2013)
  • Besa Developers and Infrastructure Private Limited (BESA)
  • Welspun Mexico S.A. de C.V (WMEX) (Up to March 28, 2013)
  • Welspun Retail Limited (WRL)
  • Welspun Holdings Private Limited, Cyprus (WHPL)
  • Welspun Home Textiles UK Limited (WHTUKL) (Held through WHPL)
  • CHT Holdings Limited (CHTHL) (Held through WHTUKL)
  • Welspun USA Inc., USA (WUSA)
  • Welspun Decorative Hospitality LLC (WDHL)
  • Kojo Canada Inc. (Held through WDHL)
  • Welspun Mauritius Enterprises Limited (WMEL)
  • Novelty Home Textiles SA de CV (Held through WMEL)
  • Christy Home Textiles Limited (CHTL) (Held through CHTHL)
  • Welspun UK Limited (WUKL) (Held through CHTL)
  • Christy 2004 Limited (Held through WUKL)
  • Christy Welspun GmbH (CWG) (Held through WUKL) (Formerly known as Christy Europe GmbH (CEG))
  • Christy UK Limited (CUKL) (Held through CHTL)
  • ER Kingsley (Textiles) Limited (ERK) (Held through CHTL)

 

 

Joint Venture Company (As on: 31.03.2013):

Welspun Zucchi Textiles Limited (WZTL)

 

 

Associate Company (As on: 31.03.2013):

Welspun Captive Power Generation Limited (WCPGL)

 

 

Enterprises over which Key Management Personnel or relatives of such personnel exercise significant influence or control and with whom transactions have taken place during the year (As on: 31.03.2013):
  • Welspun Investments and Commercials Limited (WICL)
  • Welspun Corp Limited (WCL)
  • Welspun Steel Limited (WPSL)
  • Welspun Wintex Limited (WWL)
  • Welspun Mercantile Limited (WML)
  • Welspun Energy Limited (WEL)
  • Krishiraj Trading Limited (KTL)
  • Welspun Logistics Limited (WLL)
  • Welspun Syntex Limited (WSL)
  • Welspun Realty Private Limited (WRPL)
  • Vipuna Trading Limited (VTL)
  • Mertz Securities Limited (MSL)
  • Welspun Polybuttons Limited (WPBL)
  • Wel-treat Enviro Management Organisation Limited (WEMO)
  • Welspun Maxsteel Limited (WMSL)
  • Welspun Projects Limited ( WPL)
  • Methodical Investment and Trading Company Private Limited (MITCPL)
  • Welspun FinTrade Limited (WFTL)
  • Welspun Finance Limited (WFL)
  • Welspun Foundation for Health and Knowledge (WFHK)
  • Welspun Infra Limited (W INFRA)

 

 

 

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs. 1004.599 Million

 

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

155500000

Equity Shares

Rs.10/- each

Rs.1555.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100346515

Equity Shares

Rs.10/- each

Rs. 1003.470 Millions

 

 

 

 

 

 

Reconciliation of number of shares

 

Equity Shares :

31.03.2014

 

Number of Shares

Amount (Rs. millions)

Balance as at the beginning of the year

100027015

1000.270

Add : Shares issued pursuant to Scheme of Amalgamation

-

-

Add : Shares issued to Employees under Employee Stock Option Scheme

319500

3.200

Balance as at the end of the year

100346515

1003.470

 

 

Details of shares held by shareholders holding more than 5% of the aggregate shares in the Company

 

Equity Shares :

31.03.2014

 

Number of Shares

% of holdings

Welspun Fintrade Limited

-

-

Welspun Mercantile Limited

11246576

11.21

Welspun Wintex Limited

8425291

8.40

Krishiraj Trading Limited

50037192

49.86

 

 

Rights, preferences and restrictions attached to shares

 

Equity Shares :

 

The company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend, in case proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

 

Shares alloted as fully paid up pursuant to contract(s) without payment being received in cash (during 5 years immediately preceeding March 31, 2014):

 

10,475,496 equity shares of Rs. 10 each fully paid were issued in January 2013 to the erstwhile shareholders of Welspun Global Brands Limited pursuant to the composite scheme of arrangement between Welspun Global Brands Limited, the Company and Welspun Retail Limited without payment being received in cash.

 

 

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

1004.599

1003.470

1000.270

(b) Reserves & Surplus

13321.274

9489.310

9603.400

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.520

0.000

Total Shareholders’ Funds (1) + (2)

14325.873

10493.300

10603.670

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

12786.032

13353.620

9290.990

(b) Deferred tax liabilities (Net)

1121.445

925.530

2352.810

(c) Other long term liabilities

5.110

3.700

6.300

(d) long-term provisions

1107.779

980.350

45.660

Total Non-current Liabilities (3)

15020.366

15263.200

11695.760

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

7380.957

8123.690

6700.280

(b) Trade payables

5078.140

4298.940

2622.850

(c) Other current liabilities

5541.444

2793.690

1722.320

(d) Short-term provisions

921.883

432.970

245.810

Total Current Liabilities (4)

18922.424

15649.290

11291.260

 

 

 

 

TOTAL

48268.663

41405.790

33590.690

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

20520.448

12505.670

16082.310

(ii) Intangible Assets

0.000

35.320

31.740

(iii) Capital work-in-progress

0.000

5239.350

541.440

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

6163.415

7069.140

3769.400

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1217.821

1212.870

1437.430

(e) Other Non-current assets

134.478

896.510

1263.560

Total Non-Current Assets

28036.162

26958.860

23125.880

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

896.070

435.230

393.950

(b) Inventories

7816.787

6872.300

5100.120

(c) Trade receivables

3866.030

2183.030

1136.840

(d) Cash and cash equivalents

2666.243

1916.220

1479.050

(e) Short-term loans and advances

4126.237

2393.070

2047.420

(f) Other current assets

861.134

647.080

307.430

Total Current Assets

20232.501

14446.930

10464.810

 

 

 

 

TOTAL

48268.663

41405.790

33590.690

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

44075.626

35312.030

30429.460

 

 

Other Income

944.173

1036.240

491.720

 

 

TOTAL                                    

45019.799

36348.270

30921.180

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

21796.259

19717.890

16944.250

 

 

Purchases of Stock-in-Trade

60.040

69.740

81.140

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(700.303)

(1034.000)

44.730

 

 

Employees benefits expense

3253.321

2342.690

1817.710

 

 

Power and Fuel

3456.585

0.000

83.850

 

 

Other expenses

5827.136

7138.560

7049.310

 

 

TOTAL                                    

33693.038

28234.880

26020.990

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

11326.761

8113.390

4900.190

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

1806.373

1439.140

1384.310

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

9520.388

6674.250

3515.880

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

2662.901

6227.920

1328.090

 

 

 

 

 

 

PROFIT BEFORE TAX

6857.487

446.330

2187.790

 

 

 

 

 

Less

TAX                                                                 

1756.126

147.970

473.740

 

 

 

 

 

 

PROFIT AFTER TAX

5101.361

298.360

1714.050

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

1312.450

1182.210

 

 

Stores and Spares and Dyes and Chemicals

NA

243.380

176.060

 

 

Capital Goods

NA

3301.990

246.450

 

 

Packing Material

NA

13.520

24.040

 

 

Others

NA

00000

0.000

 

TOTAL IMPORTS

NA

4871.340

1628.760

 

 

 

 

 

 

Earnings Per Share (Rs.)

13.40

2.98

17.19

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

 

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

30.06.2014

30.09.2014

 

 

Unaudited

Unaudited

Net Sales

 

9521.300

12104.300

Total Expenditure

 

7253.500

9455.800

PBIDT (Excl OI)

 

2267.800

2648.500

Other Income

 

319.500

194.600

Operating Profit

 

2587.300

2843.100

Interest

 

465.00

474.700

Exceptional Items

 

0.000

0.000

PBDT

 

2122.300

2368.400

Depreciation

 

518.100

573.200

Profit Before Tax

 

1604.200

1795.200

Tax

 

430.100

434.800

Provisions and contingencies

 

0.000

0.000

Profit After Tax

 

1074.100

1360.400

Extraordinary Items

 

0.000

0.000

Prior Period Expenses

 

0.000

0.000

Other Adjustments

 

0.000

0.000

Net Profit

 

1074.100

1360.400

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

11.57

0.84

5.63

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

25.70

22.98

16.10

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

16.29

1.53

7.47

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.48

0.04

0.21

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.41

2.05

1.51

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.07

0.92

0.93

 

 

STOCK PRICES

 

Face Value

Rs.10.00 /-

Market Value

Rs. 622.60 /-

 

 

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

1000.270

1003.470

1004.599

Reserves & Surplus

9603.400

9489.310

13321.274

Share Application money pending allotment

0.000

0.520

0.000

Net worth

10603.670

10493.300

14325.873

 

 

 

 

long-term borrowings

9290.990

13353.620

12786.032

Short term borrowings

6700.280

8123.690

7380.957

Current Maturities of Long Term Debt

0.000

0.000

0.000

Total borrowings

15991.270

21477.310

20166.989

Debt/Equity ratio

1.508

2.047

1.408

 

 

 

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

30429.460

35312.030

44075.626

 

 

16.046

24.818

 

 

 

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

30429.460

35312.030

44075.626

Profit

1714.050

298.360

5101.361

 

5.63%

0.84%

11.57%

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

No

10

Date of Birth of Proprietor / Partners / Directors

No

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

No

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

-----

33

Market information

-----

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particular

As on

31.03.2015

As on

31.03.2014

Long Term Borrowing

 

 

Loan from others

NA

10.740

Loans form Bank

NA

725.320

 

 

 

Short-term Borrowings

 

 

Working Capital Loans from Banks

NA

223.210

Total

NA

959.270

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10481283

04/03/2014

10,650,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA 
LLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

B97927073

2

10467453

06/12/2013

1,000,000,000.00

STATE BANK OF BIKANER AND JAIPUR

WELSPUN HOUSE, GROUND FLOOR, KAMALA MILLS COMPOUN 
D, LOWER PAREL, MUMBAI, MAHARASHTRA - 400013, INDIA

B92482405

3

10468684

05/12/2013

2,000,000,000.00

Bank of India

MUMBAI LARGE CORPORATE BRANCH, ORIENTAL BUILDING, 
GROUND FLOOR, 364 D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B92927847

4

10454107

27/09/2013

945,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, 
BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400013, IND 
IA

B87122453

5

10413664

26/03/2013

840,000,000.00

Export-Import Bank of India

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE, 
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400 
005, INDIA

B71405740

6

10420866

26/03/2013

2,050,000,000.00

IDBI Bank Limited

CBG, 9TH FLOOR, IDBI TOWER, CUFFE PARADE, MUMBAI, 
MAHARASHTRA - 400005, INDIA

B73487514

7

10391380

23/06/2014 *

6,926,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA 
LLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

C07991615

8

10350551

11/04/2012

340,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA 
LLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

B37832508

9

10351905

11/04/2012

340,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA 
LLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

B38284428

10

10322999

25/11/2011

900,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BA 
LLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

B27819218

 

* Date of charge modification

 

 

CONTINGENT LIABILITIES

(Rs. In Millions)

Particular

As on

31.03.2014

Excise, Customs and Service Tax Matters

344.280

Income Tax Matters

167.650

Stamp Duty Matter

4.60

Sales Tax

38.080

Claims against Company not acknowledged as debts

50.750

Total

605.360

 

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED 31ST DECEMBER 2014

(Rs. in millions)

Sr.

No.

 

 

Particulars

Quarter Ended

Nine Months Ended

31.12.2014

30.09.2014

31.1.2014

Unaudited

Unaudited

Unaudited

Part I

 

 

 

 

1.

Income from Operations

 

 

 

 

a) Net Sales / Income from Operations

10552.605

11279.726

30669.392

 

b) Other Operating Income

776.546

824.573

2285.316

 

Total Income from Operations (net)

11329.151

12104.299

32954.708

2.

Expenditure

 

 

 

 

a) Cost of materials consumed

5482.369

5818.755

16709.994

 

b) Purchase of stock-in-trade

13.672

0.044

40.138

 

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

(100.696)

452.715

(586.370)

 

d) Employee benefits expense

830.574

841.980

2402.872

 

e) Depreciation and amortisation expense

776.526

573.241

1867.872

 

f)  Power and Fuel Charges

844.672

869.162

705.287

 

g) Other expenses

1428.201

1473.151

4153.583

 

Total Expenses

9275.318

10029.068

27075.992

3.

Profit/ (Loss) from Operations before Other Income, Exchange gain/(loss), Finance costs and Exceptional items (1-2)

2053.833

2075.231

5878.716

4.

Other Income

141.178

194.627

655.295

5.

Profit /(Loss) from Ordinary activities before finance costs and Exceptional items (3+4a+4b)

2195.011

2269.858

6534.011

6.

Finance Costs

579.726

474.658

1519.361

7.

Profit / (Loss) from ordinary activities after Finance costs but before

Exceptional items (5-6)

1615.285

1795.200

5014.650

8.

 Tax Expenses

Provision for Taxation – Current Tax (Net)

Provision for Taxation – Deferred Tax (Net)

 

364.792

(69.906)

 

209.554

225.207

 

1156.720

103.030

 

Total

294.886

434.7614

1519.361

9.

Net Profit / (Loss) from ordinary activities after tax (7-8)

1320.399

1360.439

3754.900

10.

Extraordinary items

--

--

--

11.

Net Profit / (Loss) for the period (11+12)

1320.399

1360.439

3754.900

12.

Paid-up equity share capital (Face Value of Rs. 10 per share)

1004.416

1004.269

1004.416

13.

Reserve excluding Revaluation reserve

 

 

 

14.

Earnings Per Share (EPS) before and after extraordinary items (of Rs. 10/- each)

a) Basic

b) Diluted

 

 

13.15

13.15

 

 

13.55

13.54

 

 

37.40

37.39

 

 

 

 

 

Part II

 

 

 

 

A.

PARTIULARS OF SHAREHOLDINGS

 

 

 

 

Public Shareholding

 

 

 

 

- Number of Shares

26803896

26789196

26803896

 

- Percentage of Shareholding

27%

27%

27%

 

Promoters and Promoter Group Shareholding

 

 

 

 

a) Pledged/Encumbered

 

 

 

 

- Number of Shares

Nil

Nil

Nil

 

- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)

Nil

Nil

Nil

 

- Percentage of Shares (as a % of the Total Share Capital of the Company)

Nil

Nil

Nil

 

b) Non Encumbered

 

 

 

 

- Number of Shares

7367719

73637719

73637719

 

- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)

100%

100%

100%

 

- Percentage of Shares (as a % of the Total Share Capital of the Company)

73%

73%

73%

 

 

PARTICULARS

For the quarter ended

31ST DECEMBER 2013

B   INVESTORS COMPLAINTS

 

Pending at the beginning of the quarter

Nil

Received during the quarter

29

Disposed during the quarter

29

Remaining unresolved at the end of the quarter

Nil

 

 

DISCLOSURE OF STANDALONE STATEMENT OF ASSETS AND LIABILITIES

 

SOURCES OF FUNDS

 

 

 

As on 30.09.2014

(Unaudited)

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

1004.269

(b) Reserves & Surplus

 

 

11922.815

Sub-total Shareholders' Funds

 

 

12927.084

 

 

 

 

(2) Minority Interest

 

 

--

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

11546.346

(b) Deferred tax liabilities (Net)

 

 

1061.460

(c) Other long term liabilities

 

 

3.700

(d) long-term provisions

 

 

1160.047

Sub Total Non-Current Liabilities

 

 

13771.553

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

7543.669

(b) Trade payables

 

 

4024.189

(c) Other current liabilities

 

 

4362.341

(d) Short-term provisions

 

 

191.449

    Sub Total- Current Liabilities

 

 

16121.648

 

 

 

 

TOTAL- EQUITY AND LIABILITIES

 

 

42820.285

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

19943.031

(b)Goodwill on Consolidation

 

 

-

(c) Non-current Investments

 

 

4105.599

(d) Deferred tax assets (net)

 

 

-

(e)  Long-term Loan and Advances

 

 

630.184

(f) Other Non-current assets

 

 

643.372

Sub Total- Non-current assets

 

 

28322.186

(2) Current assets

 

 

 

(a) Current investments

 

 

594.002

(b) Inventories

 

 

7096.114

(c) Trade receivables

 

 

2198.586

(d) Cash and cash equivalents

 

 

1725.963

(e) Short-term loans and advances

 

 

2261.920

(f) Other current assets

 

 

621.514

Sub Total- Current assets

 

 

14498.099

 

 

 

 

TOTAL ASSETS

 

 

42820.285

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 63.57

UK Pound

1

Rs. 100.94

Euro

1

Rs. 72.32

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--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

 

64

 

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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.