MIRA INFORM REPORT

 

 

Report No. :

329576

Report Date :

26.06.2015

 

IDENTIFICATION DETAILS

 

Name :

CROMPTON GREAVES LIMITED

 

 

Registered Office :

6th Floor, C.G. House, Dr. Annie Besant Road, Worli, Mumbai – 400030, Maharashtra

Tel. No.:

91-22-24237777

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

28.04.1937

 

 

Com. Reg. No.:

11-002641

 

 

Capital Investment / Paid-up Capital :

Rs. 1253.500 Million

 

 

CIN No.:

[Company Identification No.]

L99999MH1937PLC002641

 

 

IEC No.:

0388062916

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMCO5628A

 

 

PAN No.:

[Permanent Account No.]

AAACC3840K

 

 

Legal Form :

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

 

 

Line of Business :

Manufacturer of electrical and allied equipments.

 

 

No. of Employees :

10000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (75)

 

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 :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was established in 1937 in India and it is one of the world’s leading engineering corporations. Subject is an old and well-established company having excellent track record.

 

For the financial year ended 2015, company has achieved revenue of Rs. 78370.000 Million against the revenue of Rs. 75700.000 Million with profit of Rs. 7310.000 Million against the profit of 5210.000 Million. Company has maintained decent profitability at 9.32%.

 

Rating takes into consideration company’s well-established track record of business operations along with reputed brand name in electrical products segment backed by diversified product portfolio and distribution networks.

 

Rating also takes into consideration company’s strong business risk profile backed by strong financial base and healthy liquidity position of the company.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment.

 

In view of strong business profile backed by reputed brand name, 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) 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. Madhav Acharya

Designation :

Chief Financial Officer

Contact No.:

91-22-24237777

Date :

17.06.2015

 

 

LOCATIONS

 

Registered Office :

6th Floor, C.G. House, Dr. Annie Besant Road, Worli, Mumbai – 400030, Maharashtra, India

Tel. No.:

91-22-24237777

Fax No.:

91-22-24237733

E-Mail :

minal.bhosale@cgglobal.com

investorservices@cgglobal.com

Website :

http://www.cglonline.com

 

 

Plant Locations :

POWER SYSTEMS

 

Kanjur, Bhandup, Mumbai – 400042, Maharashtra, India

Tel. No. 91-22-25782451

Fax No. 91-22-25783271/ 25783216

E-Mail. : vmasson@tone.cgl.co.in

 

A/3, MIDC Area, Ambad, Nashik – 422010, Maharashtra, India

Tel. No. 91-253-2382271/ 2382275

Fax No. 91-253-2381247

E-Mail. : contact@cglmail.com

 

D-2, MIDC, Waluj, Aurangabad – 431136, Maharashtra, India

Tel. No. 91-240-2554662 /2554371/ 2554372/ 2554559

Fax No. 91-240-2554697

E-Mail. : cglsg@bom4.vsnl.net.in

 

209, Mumbai Pune Road, Pimpri, Pune – 411018, Maharashtra, India

Tel. No. 91-20-27474925

Fax No. 91-20-27474972

E-Mail. : cgt2@mantraonline.com

 

T1+T2, MPAKVN Industrial Area, Malanpur (District Bhind) - 477716, Madhya Pradesh, India

Tel. No. 91-7539-283502/ 3507/ 3470

Fax No. 91-7539-283585

E-Mail. : cgt2@mantraonline.com

 

Plot No.29-32, New Industrial Area No.1, Mandideep – 462046, Madhya Pradesh, India

Tel. No. 91-7480-233306

Fax No. 91-7480-233149

E-Mail. cglt-bpl@sancharnet.in

 

Plot No. 65, Phase 1, SIPCOT Industrial Complex, Hosur - 635126, Tamilnadu, India

Telefax : 91-4344-2579633

Fax No. : 91-4344-2579622

E-Mail. : cgpolycrete@satyam.net.in

 

INDUSTRIAL SYSTEMS

 

Kanjur, Bhandup, Mumbai – 400042, Maharashtra, India

Tel. No. 91-22-2578 2451

Fax No. 91-22-2578 3845

E-Mail. : imd@cgl.co.in

 

A/6-2, MIDC Industrial Area, Ahmednagar – 414111, Maharashtra, India

Tel. No. 91-241-2777372

Fax No. 91-241-2777508

E-Mail. : sc.gupta@mail.cgl.co.in

 

Unit-2, B-110, MIDC Industrial Area, Ahmednagar – 414111, Maharashtra, India

Tel. No. 91-241-2778521

Fax No. 91-241-2777491

E-Mail. : gupta.r.k@mail.cgl.co.in

 

Plot No. 4, Gate No. 627/2, Village Kuruli, Near Chakan, Pune - 410501, Maharashtra, India

Tel. No. 91-2135-254641/2

E-Mail.  feeder@cgl.co.in

 

D-5, Industrial Area, MPAKVN, Mandideep – 462046, Madhya Pradesh, India

Tel. No. 91-7480-233116 / 233118

Fax No. 91-7480-233119

E-Mail. : ak.raina@mail.cgl.co.in

 

11-B, Industrial Area 1, Pithampur – 454775, District Dhar, Madhya Pradesh, India

Tel. No. 91-7292-253194/ 253258

Fax No. 91-7292-253211

E-Mail. : cglsrub@sancharnet.in

 

C 71-72, MIDC Industrial Area, Satpur, Nashik – 422 007, Maharashtra, India

Tel. No. 91-253-2351067/ 69

Fax No. 91-253-2351492

E-Mail. : vrkumar@satpur2.cgl.co.in

 

D-2-21, 22, 23, Tivim Industrial Estate, Karaswada, Bardez, Goa - 403526, India

Tel. No.  91-832-2257639/ 409

Fax No. 91-832-2257207

E-Mail. : sagar.r.k.@mail.cgl.co.in

 

196-198, Kundaim Industrial Estate, Kundaim, Ponda, Goa - 403110, India

Tel. No. 91-834-2395510

Fax No. 91-834-2395377

E-Mail.: cglfhpg@goatelecom.com

 

L. B. Shastri Marg, Bhandup, Mumbai - 400078, Maharashtra, India

Tel. No. : 91-22-25783865/ 3581/ 83

Fax No. : 91-22-25782877

 

Dr. E. Moses Road, Worli, Mumbai – 400018, Maharashtra, India

Tel. No. : 91-22-24933913/ 916

Fax No.: 91-22-24951411

 

CONSUMER PRODUCTS

 

Kanjur (East), Bhandup, Mumbai – 400042, Maharashtra, India

Tel. No. 91-22-25782451

Fax No. 91-22-25786046

 

Dr. E. Moses Road, Worli, Mumbai – 400018, Maharashtra, India

Tel. No. 91-22-24951983 / 24944376/ 24977652

Fax No. 91-22-24604707 / 4708 / 24973046

E-Mail. : vrm@cgl.co.in

 

Kural Village, Padra Taluka, Padra-Jambusar Road, District Baroda, Gujarat, India

Tel. No. : 91-2662-242278

Fax No. : 91-2662-242326

E-Mail. : kvs@mail.cgl.co.in

 

325-326, Kundaim Industrial Estate, Ponda, Goa - 403110, India

Tel. No. : 91-832-2395304

Fax No. : 91-832-2395305

 

A-28, MIDC, Ahmednagar - 414111, Maharashtra, India

Tel. No. 91-241-2777155

E-Mail.  uhm@cgl.co.in

 

214-A, Kundaim Industrial Estate, Kundaim, Goa - 403 110, India

Tel. No. 91-832-2395246/ 206/ 304

Fax No. 91-832-2395305

E-Mail.  rsk@mail.cgl.co.in

 

Plot No. 1, IDC Industrial Estate, Bethora, Ponda, Goa-403409, India

Tel. No. 91-832-2330005/ 2330742

Fax No. 91-832-2313155

E-Mail. rsk@mail.cgl.co.in

 

Village and Import Export Executive Channo, District Sangrur - 148026, Punjab, India

 

DIGITAL GROUP

 

10-A Jigani Industrial Estate, Jigani, Anekal, Bangalore Rural - 562106, Karnataka, India

E-Mail. cgl.rcd@cromption.sril.in

 

11A and 11C Industrial Area, Pithampur – 454775, District Dhar, Madhya Pradesh, India

Tel. No. 91-7292-253035/ 253071

Fax No. 91-7292-253213

E-Mail. hs_sekhon@yahoo.co.in

 

INTERNATIONAL DIVISION

 

Jagruti, 2nd Floor, Kanjur Marg (East), Mumbai - 400 042, Maharashtra, India

Tel No. 91-22-25782451-7 / 25776524 / 6649 / 25776723 / 25784211-19 / 67558000

Fax No. 91-22-25774066

E-Mail.  ashley@cgl.co.in

 

DOMESTIC APPLIANCES DIVISION

 

27, Rani Jhansi Road, New Delhi - 110055, India

Tel. No. 91-11-27516993/ 23632349

Fax No. 91-11-27514899

 

ENGINEERING PROJECTS DIVISION

 

Bombay Mutual Building, 4th Floor, 232, NSC Bose Road, PO Box No.100, Chennai - 600001, Tamilnadu, India

Tel No. 91-44-25341941

Fax No. 91-44-25341048

E-Mail. cglepd@vsnl.com

 

50, Chowringhee Road, Kolkata - 700071, West Bengal, India

Tel. No. 91-33-22828709/ 22820814/ 3716

Fax No. 91-33-22823715

 

LIGHTING DIVISION

 

Dr. E. Moses Road, Worli, Mumbai - 400018, Maharashtra, India

Tel. No. 91-22-24604701

 

 

Regional Office :

3rd Floor, Express Building, 9-10 Bahadur Shah Zafar Marg, Near to Crossing, New Delhi-110001, India

 

 

Regional Sales Office :

Northern Region

 

Located at:

 

  • Jaipur
  • Jalandhar
  • Lucknow
  • New Delhi

 

  • Eastern Region

 

  • Located at:

 

  • Kolkata
  • Bhubaneswar
  • Patna

 

  • Western Region

 

  • Located at:

 

  • Mumbai
  • Ahmedabad
  • Baroda
  • Indore
  • Pune
  • Nagpur
  • Raipur

 

  • Southern Region

 

  • Located At:

 

  • Chennai
  • Bangalore
  • Secunderabad
  • Cochin
  • Coimbatore

 

  • Satellite Office

 

  • Located at:

 

  • Coimbatore
  • Cochin
  • Ernakulam
  • Chennai
  • Madurai
  • Vijayawada
  • Mandapam

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Gautam Thapar

Designation :

Chairman

 

 

Name :

Mr. S.M. Trehan

Designation :

Vice Chairman (Managing Director upto 1st June, 2011) 

 

 

Name :

Mr. L. Demortier

Designation :

Managing Director

 

 

Name :

Mr. Shirish M. Apte

Designation :

Non-Executive Director

 

 

Name :

Mr. Omkar Goswami

Designation :

Non-Executive Director

 

 

Name :

Mr .B Hariharan

Designation :

Non-Executive Director

 

 

Name :

Mr. Sanjay Mohan Labroo

Designation :

Non-Executive Director

 

 

Name :

Mr. S. Prabhu

Designation :

Non-Executive Director

 

 

Name :

Mr. M. Pudumjee

Designation :

Non-Executive Director

 

 

Name :

Mr. Colette Lewiner

Designation :

Non-Executive Director

 

 

Name :

Mr. V. Von Massow

Designation :

Non-Executive Director

 

 

KEY EXECUTIVES

 

Name :

Mr. M. Acharya

Designation :

Chief Financial Officer

 

 

Name :

Mr. M. Bhosale

Designation :

Company Secretary

 

 

Name :

Mr. Ravi Rajagopal

Designation :

Executive Vice President and Global Head

 

 

Name :

Mr. Sanjay Jorapur

Designation :

Executive Vice President and Global Head

 

 

Name :

Mr. Jayant Kulkarni

Designation :

Executive Vice President and Global Head

 

 

Name :

Mr. Norberto Santiago Elustondo

Designation :

Executive Vice President and Global Head

 

 

Name :

Mr. Ash Gupta

Designation :

Executive Vice President and Global Head

 

 

Name :

Mr. Dileep Patil

Designation :

Executive Vice President and Chief Technology Officer

 

 

Name :

Mr. Madhav Acharya

Designation :

Executive Vice President, Financial Officer and Chief Information Officer

 

 

Name :

Mr. Anil Raina

Designation :

Executive Vice President and President

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholder

Total No. of Shares

% of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group

 

 

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

 

 

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

215451070

34.38

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

215451070

34.38

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

 

 

Total shareholding of Promoter and Promoter Group (A)

215451070

34.38

(B) Public Shareholding

 

 

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

 

 

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

153328986

24.46

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

1667064

0.27

http://www.bseindia.com/include/images/clear.gifInsurance Companies

39115206

6.24

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

96779464

15.44

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

 

 

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

53103164

8.49

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

290890720

46.41

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

53103164

8.47

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

8519856

1.36

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

5949620

0.95

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

2320199

0.37

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

434611

0.07

http://www.bseindia.com/include/images/clear.gifForeign Corporate Bodies

3192002

0.51

http://www.bseindia.com/include/images/clear.gifForeign Nationals

2808

0.00

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

119430508

19.06

Total Public shareholding (B)

410316228

65.47

Total (A)+(B)

625772298

99.84

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

0

0.00

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

973844

0.016

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

973844

0.016

Total

626746142

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of electrical and allied equipments.

 

 

Products :
  • Motors
  • Fractional Horse Power Motors
  • Control Gear
  • Power And Distribution Transformers
  • Alternators
  • Switchgear
  • Tap Changers, Etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Oman
  • Singapore
  • Kuwait
  • USA
  • Jordan

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Belgium
  • Sweden
  • Germany
  • Singapore

 

 

Terms :

 

Selling :

Cash, Advance, L\C and Credit (30,60,90 Days)

 

 

Purchasing :

Cash, Advance, L\C and Credit (30,60,90 Days)

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users and OEMs

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

10000 (Approximately)

 

 

Bankers :
  • Union Bank of India
  • IDBI Bank Limited
  • State Bank of India
  • ICICI Bank Limited
  • Corporation Bank
  • The Royal Bank of Scotland N.V.
  • Canara Bank
  • Standard Chartered Bank
  • Bank of Maharashtra
  • Credit Agricole CIB
  • Yes Bank Limited

 

 

Facilities :

(Rs. In Million)

Secured Loan

As on

31.03.2015

As on

31.03.2014

SHORT TERM BORROWINGS

 

 

Working capital demand loan

NA

299.900

 

 

 

Total

NA

299.900

 

Financial Institution:

Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, India

 

 

Auditors :

 

Name :

Sharp and Tannan

Chartered Accountants

 

 

Solicitors :

(As On 31.03.2014)

Crawford Bayley and Company

 

 

Subsidiaries :

(As On 31.03.2014)
  • CG Energy Management Limited
  • CG – PPI Adhesive Products Limited
  • CG – ZIV Power Automation Solutions Limited
  • CG Power Solutions Limited
  • Crompton Greaves Holdings Mauritius Limited
  • CG International Holdings Singapore PTE.  Limited
  • CG International B.V.
  • PT. CG Power Systems Indonesia
  • CG Holdings Belgium N.V.
  • CG Power Holdings Ireland Limited
  • CG Power System USA Inc.
  • CG Power Systems Belgium N.V.
  • CG Automation Systems UK Limited
  • CG Power Systems Ireland Limited
  • CG Sales Networks France SA
  • Microsol Limited
  • Viserge Limited
  • CG Service Systems France SAS
  • CG Holdings Hungary Kft.
  • CG Electric Systems Hungary Zrt.
  • CG Power USA Inc.
  • CG Power Systems Canada Inc.
  • CG Service Systems Curacao N.V.
  • CG Power Solutions UK Limited
  • CG Power Solutions Saudi Arabia Ltd
  • CG Power Systems Brazil LTDA
  • CG Power County LLC
  • CG Drives and Automation Germany GmbH
  • Emotron Latin America Inc.
  • CG Industrial Holdings Sweden AB
  • CG Drives and Automation Sweden AB
  • CG Drives and Automation Netherlands B.V.
  • ZIVI  D Smart Energy Networks
  • ZIV Aplicacionesy Tecnologia S.L.
  • ZIV Communications S.A.
  • ZIV Metering Solutions S.L.
  • ZIV USA Inc.
  • ZIV Grid Automation S.L.
  • ZIV do Brasil LTDA
  • Crompton Greaves Sales Network Malaysia SDN.BHD.
  • CG Middle East FZE

 

 

Associates:

(As On 31.03.2014)
  • CG Lucy Switchgear Limited

 

 

Other related parties in which directors are interested:

(As On 31.03.2014)
  • Ballarpur Industries Limited
  • Solaris Chem Tech Industries Limited
  • BILT Graphic Paper Products Limited
  • Avantha Holdings Limited
  • Salient Business Solutions Limited
  • Avantha Realty Limited
  • Korba West Power Company Limited
  • Sabah Forest Industries Sdn. Bhd.
  • Malanpur Captive Power Limited
  • Corella Investments Limited
  • Lustre International Limited
  • Varun Prakashan Private Limited
  • Jhabua Power Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorized Capital: Rs. 4076.000 Million

 

Issued Subscribed and Paid Up Capital: Rs. 1253.292 Million

 

 

As on: 31.03.2014

 

Authorized Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1805000000

Equity Shares

Rs. 2/- Each

Rs.3610.000 Million

 

 

 

 

 

Issued,:

No. of Shares

Type

Value

Amount

 

 

 

 

626788442

Equity Shares

Rs.2/- each

Rs. 1253.500 Million

 

 

 

 

 

Subscribed and Paid Up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

626746142

Equity Shares

Rs.2/- each

Rs. 1253.500 Million

 

 

 

 

 

 

Reconciliation of the number of the shares outstanding at the beginning and at the end of the year:

 

Issued share capital

31.03.2014

Authorised share capital:

No. of Shares

Rs. in Million

 

 

 

Balance at the beginning of the year

641533836

1283.000

Less: Shares bought back

14745394

29.500

Balance at the end of the year

626788442

1253.500

 

 

Subscribed & Paid-up

31.03.2014

Authorised share capital:

No. of Shares

Rs. in Million

 

 

 

Balance at the beginning of the year

641533836

1283.000

Less: Shares bought back

14745394

29.500

Balance at the end of the year

626788442

1253.500

 

Terms / rights attached to equity shares:

 

The Company has only one class of share capital, i.e., equity shares having face value of Rs.2 per share. Each holder of equity share is entitled to one vote per share.

 

During the year, the Company has declared and paid interim dividend of Rs. 0.80 per share. The Company has recommended a final dividend of Rs.0.40 per share, subject to approval of shareholders at the ensuing Annual General Meeting.

 

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.

 

Details shareholders holding more than 5% shares in the Company:

 

Particulars

31.03.2014

%

No. of Shares

1. Avantha Holdings limited

40.84

255937034

2. HDFC Trustee company limited – HDFC Equity Fund

9.30

58269500

3. life insurance corporation of India

5.24

32842674

 

Aggregate number of bonus shares issued during the period of five years immediately preceding the reporting date:

 

Particulars

31.03.2014

No. of Shares

 

 

shares issued as fully paid-up bonus shares

274924944

 

 

 

Aggregate number of bonus shares issued bought back during the period of five years immediately preceding the reporting date:

 

Particulars

31.03.2014

No. of Shares

 

 

Shares bought back

14745394

 

 

 

Aggregate number of bonus shares issued as GDRs:

 

Particulars

31.03.2014

%

No. of Shares

 

 

 

The Bank of New York

0.22

1383534

 

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

1253.500

1253.500

1283.000

(b) Reserves & Surplus

38842.800

32307.200

29285.500

(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)

40096.300

33560.700

30568.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

6342.600

5.400

7.500

(b) Deferred tax liabilities (Net)

680.100

735.900

498.300

(c) Other long term liabilities

28.100

280.300

273.300

(d) long-term provisions

482.200

419.100

380.900

Total Non-current Liabilities (3)

7533.000

1440.700

1160.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

215.000

299.900

129.300

(b) Trade payables

14316.000

15630.700

15143.100

(c) Other current liabilities

4083.800

3629.500

4216.600

(d) Short-term provisions

884.000

1303.000

1478.700

Total Current Liabilities (4)

19498.800

20863.100

20967.700

 

 

 

 

TOTAL

67128.100

55864.500

52696.200

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

7884.900

6745.100

6043.200

(ii) Intangible Assets

0.000

803.900

561.700

(iii) Capital work-in-progress

0.000

424.200

749.100

(iv) Intangible assets under development

0.000

253.100

398.600

(b) Non-current Investments

10050.400

8057.100

5545.800

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term Loan and Advances

231.400

426.700

181.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

18166.700

16710.100

13479.400

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

1604.500

206.300

5004.600

(b) Inventories

5237.700

5577.800

5485.000

(c) Trade receivables

22637.000

19079.200

18406.200

(d) Cash and cash equivalents

3024.400

4428.000

2887.900

(e) Short-term loans and advances

15338.900

9192.200

6935.700

(f) Other current assets

1118.900

670.900

497.400

Total Current Assets

48961.400

39154.400

39216.800

 

 

 

 

TOTAL

67128.100

55864.500

52696.200

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

78370.200

71353.000

64853.800

 

Other Income

1056.800

986.800

743.900

 

TOTAL (A)

79427.000

72339.800

65597.700

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

36371.900

35652.800

34676.200

 

Purchases of Stock-in-Trade

21587.500

18118.000

12654.700

 

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

260.900

(429.900)

(73.900)

 

Employees benefits expense

5229.800

4107.400

3635.900

 

Other expenses

8386.900

7958.600

6754.100

 

Exceptional items

(2600.500)

0.000

0.000

 

Exchange gain

474.200

0.000

0.000

 

TOTAL (B)

69710.700

68237.300

65406.900

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

9716.300

8415.600

6932.900

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

(242.500)

397.600

254.100

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

9958.800

8018.000

6678.800

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

963.900

893.500

718.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

8994.900

7124.500

5960.200

 

 

 

 

 

Less

TAX (H)

1683.500

1913.600

1501.800

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

7311.400

5210.900

4458.400

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

27508.400

23703.800

       20592.100

 

 

 

 

 

Add

Earlier year excess proposed dividend and dividend distribution tax (L)

NA

0.000

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

NA

525.000

450.000

 

1st Interim Dividend

NA

251.900

256.600

 

2nd Interim Dividend

NA

250.700

256.600

 

3rd Interim Dividend

NA

 0.000

0.000

 

Proposed Dividend

NA

250.700

256.600

 

Corporate Dividend Tax

NA

 128.000

126.900

 

Total (M)

NA

27508.400

23703.800

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

NA

5210.900

4458.400

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

NA

9021.600

8310.500

 

Service Income

NA

87.600

57.700

 

Other Earnings

NA

296.500

212.700

 

Others

NA

501.900

190.700

 

TOTAL EARNINGS

NA

9907.600

8771.600

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

6869.000

5981.400

 

Trading Goods

NA

1437.800

1303.300

 

Spares Parts

NA

67.900

28.800

 

Capital Goods

NA

112.000

288.500

 

TOTAL IMPORTS

NA

8486.700

7602.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

11.67

8.23

6.95

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

3.500

3.800

Cash generated from operations

NA

0.000

0.000

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

9.33

6.96

6.25

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

12.40

11.24

9.72

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

15.76

15.12

12.96

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.22

0.21

0.19

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.16

0.01

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.51

1.88

1.87

 

 

STOCK PRICES

 

Face Value

Rs. 2.00/-

Market Value

Rs. 163.30/-

 

 

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

1283.000

1253.500

1253.500

Reserves & Surplus

29285.500

32307.200

38842.800

Net worth

30568.500

33560.700

40096.300

 

 

 

 

long-term borrowings

7.500

5.400

6342.600

Short term borrowings

129.300

299.900

215.000

Total borrowings

140.600

308.800

6557.600

Debt/Equity ratio

0.005

0.009

0.164

 

 

 

 

 

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

64853.800

71353.000

78370.200

 

 

10.021

9.834

 

 

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

64853.800

71353.000

78370.200

Profit

5960.200

7124.500

8994.900

 

9.19%

9.98%

11.48%

 

 

 

 

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)

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

No

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:-

25.03.2015

Stamp No.:

ITXAL/403/2015

Filing Date:-

25.03.2015

 

Petitioner:

THE PR. COMMISSIONER OF INCOME TAX

Respondent:-

M/S CROMPTON GREAVES LIMITED

Patn. Adv.

A R MALHOTRA (I3164)

Resp. Adv.:

0(0)

District:-

MUMBAI

Bench:-

DIVISION

Status:-

Pre-Admission

Next Date:-

01.04.2015

Stage:-

TAX APPEALS

Last Coram:-

REGISTRAR (OS)/ PROTHONOTARY AND SR. MASTER

 

 

Act :-

Income Tax Act, 1961                                  Under Section:- 260A

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Interest-free sales tax deferral loans from state government

NA

5.400

 

 

 

Total

NA

5.400

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10552000

27/03/2015 *

7,000,000,000.00

AXIS TRUSTEE SERVICES LIMITED

AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, 
 PANDURANG BUDHKAR MARG, WORLI,, MUMBAI, MAHARASHTRA - 400025, INDIA

C49354939

2

80015435

19/01/2015 *

33,000,000,000.00

UNION BANK OF INDIA LIMITED

INDUSTRIAL FINANCE BRANCH , UNION BANK BHAVAN, 1S 
T FLOOR , VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI -400021 , MAHARASHTRA -, INDIA

C42729632

 

* Date of charge modification

 

 

FIXED ASSETS:

 

  • Freehold Land
  • Leasehold Land
  • Buildings
  • Plant and Machinery
  • Railway sidings
  • Furniture and Fixtures
  • Office Equipment’s
  • Aircrafts
  • Vehicles
  • Goodwill
  • Computer Software
  • Technical Know – how
  • Commercial rights
  • Research and Development

 

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.63.61

UK Pound

1

Rs.99.79

Euro

1

Rs.71.17

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

GTA

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

9

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

9

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

9

--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

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

75

 

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.