MIRA INFORM REPORT
|
Report No. : |
310100 |
|
Report Date : |
04.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
ANDREW YULE AND COMPANY LIMITED |
|
|
|
|
Registered
Office : |
8 Dr. Rajendra Prasad Sarani, Kolkata – 700001, West Bengal |
|
|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.02.1919 |
|
|
|
|
Com. Reg. No.: |
21-003229 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 667.277 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L63090WB1919GOI003229 |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The company operates in three segments: Engineering, Electrical and Tea. The company's Engineering segment is engaged in the manufacture of industrial fans, tea machinery, air pollution and water pollution control equipments and turn-key projects. The Electrical segment is engaged in the manufacture of high temperature (HT) and low temperature (LT) switchgears, transformers, relay and contactors turn-key projects on power distribution. Their Tea segment is engaged in tea growing and manufacturing. |
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|
|
|
No. of Employees
: |
15027 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well-established company having moderate track. The company is registered under board for industrial and financial
reconstruction (BIFR) to restructure its debt and operations, as case no
501/2003. It is to be noted that the subject is a union government company and
there is delay in repayments of loan from the government as the same is
expected to be waived off in due time. However, profitability of the company seems to be sound during
financial year 2014. Trade relations are reported to be fair. Business is
active. Payment terms are reported to be slow and delayed. The company can be considered for business dealins with some caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
India Rating |
|
Rating |
Long Term Rating = INDC |
|
Rating Explanation |
Poor credit quality and limited prospectus of recovery. |
|
Date |
October 2013 |
|
Rating Agency Name |
India Rating |
|
Rating |
Short Term Rating = IND A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
October 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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. D. K. Roy |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-33-24491770 |
|
Date : |
27.02.2015 |
LOCATIONS
|
Registered Office : |
8 Dr. Rajendra Prasad Sarani, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22428210/ 8550 |
|
Fax No.: |
91-33-22429770 |
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E-Mail : |
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Website : |
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Delhi Office : |
404, Guru Angad Bhavan, 71, Nehru Place, New Delhi – 110019, India |
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|
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|
Factory 1 : |
16A&B, Block “D”, Kalyani, West Bengal, Kolkata, India |
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Factory 2 : |
14,Mayurbhanj Road, Kolkata-700 023, India |
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Factory 3 : |
P-25, Transport Depot Road, Kolkata-700 088, India |
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Factory 4 : |
5/346, Old Mahabalipuram Road, Perungudi, Chennai – 600 096, Tamilnadu, India |
DIRECTORS
|
Name : |
Kallol Datta |
|
Designation : |
Chirman and Managing Director |
|
Address : |
“Yule House” 8, Dr. Rajendra Prasad Sarani, Kolkata – 700001, West
Bengal, India |
|
|
|
|
Name : |
S. Swaminathan |
|
Designation : |
Director (Planning) |
|
Address : |
“Yule House” 8, Dr. Rajendra Prasad Sarani, Kolkata – 700001, West
Bengal, India |
|
|
|
|
Name : |
Sunil Munshi |
|
Designation : |
Director (Personnel) |
|
Address : |
“Yule House” 8, Dr. Rajendra Prasad Sarani, Kolkata – 700001, West
Bengal, India |
|
|
|
|
Name : |
Rajesh Kumar Singh |
|
Designation : |
Non-Executive Director |
|
Address : |
Department of Heavy Industry Ministry of Heavy Industries and Public
Enterprises, Udoyg Bhavan, New Delhi – 110011, India |
|
|
|
|
Name : |
Dinesh Kumar |
|
Designation : |
Non-Executive Director |
|
Address : |
Department of Heavy Industry Ministry of Heavy Industries and Public
Enterprises, Udoyg Bhavan, New Delhi – 110011, India |
KEY EXECUTIVES
|
Name : |
Mr. D. K. Roy |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
D. Bandyopadhyay |
|
Designation : |
Company Secretary and Financial
Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Category of
Shareholder |
No. of Shares |
% of holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
293524630 |
90.00 |
|
|
293524630 |
90.00 |
|
|
||
|
Total
shareholding of Promoter and Promoter Group (A) |
293524630 |
90.00 |
|
(B) Public
Shareholding |
||
|
|
||
|
|
1300 |
0.00 |
|
|
11179532 |
3.43 |
|
|
44077 |
0.01 |
|
|
11224909 |
3.44 |
|
|
||
|
|
2925172 |
0.90 |
|
|
||
|
|
17301617 |
5.30 |
|
|
1162150 |
0.36 |
|
|
21388939 |
6.56 |
|
Total Public
shareholding (B) |
32613848 |
10.00 |
|
Total (A)+(B) |
326138478 |
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) |
326138478 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The company operates in three segments: Engineering,
Electrical and Tea. The company's Engineering segment is engaged in the manufacture
of industrial fans, tea machinery, air pollution and water pollution control
equipments and turn-key projects. The Electrical segment is engaged in the
manufacture of high temperature (HT) and low temperature (LT) switchgears,
transformers, relay and contactors turn-key projects on power distribution.
Their Tea segment is engaged in tea growing and manufacturing. |
|
|
|
|
Products : |
Engineering
Electrical
Tea
|
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
15027 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Gupta and Company Chartered Accountants |
|
Address : |
3C, Arihant, 53A, Mirza Ghalib
Street, Kolkata – 700 016, West Bengal, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
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Subsidiary Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
375000000 |
Equity Shares |
Rs. 2/- each |
Rs. 750.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
326138478 |
Equity Shares |
Rs. 2/- each |
Rs. 652.277
Million |
|
|
|
|
|
The details of Shareholder
holding more than 5% shares as at 31st March set out below :
|
Particulars |
31.03.2014 |
|
|
No. of Shares |
% of Shares |
|
|
President of India |
293524630 |
90.00 |
The reconciliation of
the number of shares outstanding as at 31st March :
|
Particulars |
31.03.2014 |
|
|
No. of Shares |
% of Shares |
|
|
Equity shares at the beginning of the year |
326138478 |
6522.77 |
|
Equity shares at the end of the year |
326138478 |
6522.377 |
The company has only one class of equity shares
having as per value of Rs. 2/- each per
share. Each holder of equity shares in entitiled to one Vote per share
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
652.277 |
652.277 |
652.277 |
|
(b) Reserves & Surplus |
1161.058 |
809.796 |
694.476 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
300.700 |
15.000 |
15.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2114.035 |
1477.073 |
1361.753 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
550.122 |
608.918 |
685.128 |
|
(b) Deferred tax liabilities (Net) |
41.008 |
37.237 |
36.161 |
|
(c) Other long term
liabilities |
10.094 |
11.825 |
9.482 |
|
(d) long-term
provisions |
52.382 |
98.225 |
91.027 |
|
Total Non-current
Liabilities (3) |
653.606 |
756.205 |
821.798 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
255.634 |
266.105 |
260.589 |
|
(b) Trade
payables |
887.248 |
654.156 |
606.952 |
|
(c) Other
current liabilities |
699.678 |
1324.739 |
1309.991 |
|
(d) Short-term
provisions |
140.796 |
112.545 |
86.266 |
|
Total Current
Liabilities (4) |
1983.356 |
2357.545 |
2263.798 |
|
|
|
|
|
|
TOTAL |
4750.997 |
4590.823 |
4447.349 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1772.847 |
1734.110 |
1740.938 |
|
(ii)
Intangible Assets |
3.664 |
2.939 |
1.362 |
|
(iii)
Capital work-in-progress |
57.487 |
52.061 |
33.127 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
83.862 |
86.487 |
86.331 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.628 |
85.238 |
80.275 |
|
(e) Other Non-current
assets |
69.136 |
59.043 |
52.870 |
|
Total Non-Current
Assets |
2008.624 |
2019.878 |
1994.903 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.163 |
0.155 |
|
(b)
Inventories |
395.852 |
342.294 |
339.589 |
|
(c) Trade
receivables |
940.852 |
960.192 |
758.065 |
|
(d) Cash
and cash equivalents |
948.759 |
903.753 |
1017.250 |
|
(e)
Short-term loans and advances |
441.678 |
344.104 |
295.916 |
|
(f) Other
current assets |
15.232 |
20.439 |
41.471 |
|
Total Current
Assets |
2742.373 |
2570.945 |
2452.446 |
|
|
|
|
|
|
TOTAL |
4750.997 |
4590.823 |
4447.349 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3668.136 |
3111.522 |
2906.919 |
|
|
|
Other Income |
105.751 |
105.885 |
117.277 |
|
|
|
TOTAL (A) |
3773.887 |
3217.407 |
3024.196 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1326.610 |
1044.239 |
1094.878 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(37.117) |
21.192 |
51.234 |
|
|
|
Employees benefits expense |
1279.463 |
1197.334 |
1003.798 |
|
|
|
Other expenses |
790.155 |
656.245 |
572.822 |
|
|
|
TOTAL (B) |
3359.111 |
2919.010 |
2722.732 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
414.776 |
298.397 |
301.464 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
115.611 |
113.436 |
164.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
299.165 |
184.961 |
136.513 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
44.900 |
44.941 |
42.631 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
0.000 |
0.000 |
26.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
254.265 |
140.020 |
119.969 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
31.339 |
26.520 |
1.506 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
222.926 |
113.500 |
118.463 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
18.565 |
21.091 |
0.000 |
|
|
TOTAL EARNINGS |
18.565 |
21.091 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.550 |
3.891 |
0.000 |
|
|
TOTAL IMPORTS |
1.550 |
3.891 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.68 |
0.35 |
0.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
6.07
|
3.64 |
4.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.31
|
9.59 |
10.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.52 |
3.14 |
2.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.09 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.38 |
0.59 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.09 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
652.277 |
652.277 |
652.277 |
|
Reserves & Surplus |
694.476 |
809.796 |
1161.058 |
|
Share Application money pending allotment |
15.000 |
15.000 |
300.700 |
|
Net
worth |
1361.753 |
1477.073 |
2114.035 |
|
|
|
|
|
|
long-term borrowings |
685.128 |
608.918 |
550.122 |
|
Short term borrowings |
260.589 |
266.105 |
255.634 |
|
Total
borrowings |
945.717 |
875.023 |
805.756 |
|
Debt/Equity
ratio |
0.694 |
0.592 |
0.381 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2906.919 |
3111.522 |
3668.136 |
|
|
|
7.038 |
17.889 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2906.919 |
3111.522 |
3668.136 |
|
Profit |
118.463 |
113.500 |
222.926 |
|
|
4.08% |
3.65% |
6.08% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
------ |
|
22] |
Litigations that the firm
/ promoter involved in |
------ |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
------ |
|
26] |
Buyer visit details |
------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS :
TEA :
The Tea Division has recorded an excellent performance by achieving a highest ever turnover which is attributable to increase in production, price, improved quality and favourable market for tea industry. As reported last, Company’s changed agricultural policy pursued over the years has resulted in higher yield and better quality standard.
The Tea Industry as a whole is experiencing difficulties in absorbing the continued increase in the cost of wages food grains for the workers. The situation is further aggravated by severe drought which continued during the earlier part of the current financial year. However, with the improved field practices and adoption of effective cost control measures the division is confident to maintain its profitability.
ELECTRICAL :
The performance of the Division improved considerably compared to that of the previous year
The Division is gearing-up to meet the increasing challenges through adoption of sophisticated technology and introduction of new products to suit the needs of power utility agencies.
ENGINEERING :
The order in-take position of Engineering Division continues to be encouraging but despite of all efforts the expected level of activity could not be achieved as execution thereof became difficult owing to paucity of working capital.
However, every endeavour is being made to provide requisite financial support for gradual improvement in the performance of the Division.
The Directors hope that some positive result may be achieved during the current financial year.
MANAGEMENT DISCUSSION
AND ANALYSIS
BUSINESS SCENARIO :
The overall outlook for the year 2014-15 seems to be positive, considering the fact that, various strategic measures undertaken by the Company have produced the desired results, specially the improvement in operational efficiency.
With continued emphasis on improvement of yield and quality of tea along with the current favourable trend in both the domestic and international tea markets, the Tea Division is expected to yield better results in the year 2014-15.
The Engineering Division has shown signs of improvements in spite of adverse market conditions and delay in execution of the projects by the customers. The Electrical Division is experiencing un-remunerative prices due to reduced off-take by the customers. Therefore, the order intake was regulated to achieve a reasonable value addition in order to contain the losses. The market conditions are expected to recover as at present, the scenario in the areas, in which these Divisions operate, is undergoing a slower growth. The Company has drawn up a roadmap to augment the turnover in the coming years for which expansion and diversification programmes are being taken up.
OUTLOOK :
The overall outlook for the year 2014-15 is expected to be positive in spite of adverse climatic conditions for Tea Division. For Engineering and Electrical Divisions the year 2014-15 will be a challenging one owing to lesser price realization consequent to idle capacities of the industries.
FINANCIAL PERFORMANCE
:
The detail financial performance of the Company are
appearing in the Balance Sheet and Profit & Loss Account for the year.
Results indicates an upward trend in Company’s overall performance. It has
ensured around 12% growth in turnover during the year 2013-14 as compared to
the preceding year and recorded a profit of Rs. 254.300 Million before tax.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10464938 |
02/12/2013 |
417,900,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR, KOLKATA, West Bengal - 700001, INDIA |
B91440206 |
|
2 |
10289213 |
25/06/2014 * |
221,900,000.00 |
UNITED BANK OF INDIA |
CALCUTTA BRANCH, 4,
N.C. DUTTA SARANI, KOLKATA, INDIA |
C16720153 |
|
3 |
10048405 |
27/05/2010 * |
32,600,000.00 |
UNITED BANK OF INDIA |
CALCUTTA BRANCH, 4,
N.C. DUTTA SARANI, KOLKATA, INDIA |
A88669015 |
|
4 |
10048406 |
27/05/2010 * |
122,900,000.00 |
UNITED BANK OF INDIA |
CALCUTTA BRANCH, 4,
N.C. DUTTA SARANI, KOLKATA, INDIA |
A88669262 |
|
5 |
10048408 |
27/05/2010 * |
56,500,000.00 |
UNITED BANK OF INDIA |
CALCUTTA BRANCH, 4,
N.C. DUTTA SARANI, KOLKATA, INDIA |
A88669585 |
|
6 |
80064914 |
31/03/1999 |
1,080,280,000.00 |
Bank of Baroda |
India Exchange
Branch, 4, India Exchange Place, West Bengal - 700001, INDIA |
- |
|
7 |
80066994 |
26/11/2013 * |
824,100,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR, KOLKATA, West Bengal - 700001, INDIA |
B91439489 |
|
8 |
80053772 |
23/08/2012 * |
97,400,000.00 |
UNION BANK OF INDIA |
INDIA EXCHANGE PLACE BRANCH, 15, INDIA EXCHANGE PLACE, KOLKATA, West Bengal - 700001, INDIA |
B60113669 |
|
9 |
80049635 |
28/10/2013 * |
395,100,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR, KOLKATA, West Bengal - 700001, INDIA |
B89749410 |
|
10 |
80062867 |
30/03/2011 * |
524,100,000.00 |
BANK OF BARODA |
INDIA EXCAHNGE BRANCH, 4, INDIA ECHANGE PLACE, KOLKATA, West Bengal - 700001, INDIA |
B12330379 |
* Date of charge modification
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST DECEMBER 2014
(Rs. in millions)
|
Sr. No. |
Particulars |
3 months ended |
Preceding 3 monts ended |
Year to date figures for current period ended |
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
||
|
Uuaudited |
Unaudited |
Unaudited |
||
|
Part I |
|
|
|
|
|
1. |
Income from
Operations |
|
|
|
|
|
a)
Revenue from Operations |
985.845 |
999.420 |
252.541 |
|
|
b)
Other Operating Income |
34.302 |
30.347 |
94.526 |
|
|
Total
Income from Operations (net) |
1020.147 |
1029.767 |
347.067 |
|
2. |
Expenditure |
|
|
|
|
|
a)
Cost of materials consumed |
331.345 |
424.750 |
1090.649 |
|
|
b)
Purchase of stock-in-trade |
59.639 |
(135.929) |
(292.733) |
|
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
338.012 |
386.113 |
1038.682 |
|
|
d)
Employee benefits expense |
338.012 |
386.113 |
1038.682 |
|
|
e)
Depreciation and amortisation expense |
16.600 |
16.600 |
49.800 |
|
|
f) Power and Fuel Charges |
0.000 |
0.000 |
0.000 |
|
|
g)
Other expenses |
185.386 |
231.313 |
580.426 |
|
|
Total Expenses |
930.985 |
922.847 |
2466.824 |
|
3. |
Profit/ (Loss) from Operations
before Other Income, Exchange gain/(loss), Finance costs and Exceptional
items (1-2) |
89.165 |
106.920 |
153.149 |
|
4. |
Other Income |
36.688 |
58.784 |
21.876 |
|
5. |
Profit /(Loss) from
Ordinary activities before finance costs and Exceptional items (3+4a+4b) |
125.853 |
165.704 |
266.698 |
|
6. |
Finance Costs |
29.256 |
165.704 |
88.959 |
|
7. |
Profit / (Loss) from ordinary activities
after Finance costs but before Exceptional items (5-6) |
96.597 |
134.432 |
177.739 |
|
8. |
Exceptional items |
0.000 |
0.000 |
0.000 |
|
9. |
Profit/ (Loss) from ordinary activities
before tax (7+8) |
96.597 |
134.432 |
177.739 |
|
10. |
Tax expenses |
0.000 |
0.000 |
0.000 |
|
11. |
Net Profit / (Loss) from ordinary
activities after tax (9-10) |
96.597 |
134.432 |
177.739 |
|
12. |
Extraordinary
items |
0.000 |
0.000 |
0.000 |
|
13. |
Net Profit /
(Loss) for the period (11+12) |
96.597 |
134.432 |
177.739 |
|
14. |
Paid-up equity share capital (Face Value of Rs. 10 per share) |
667.277 |
652.277 |
667.277 |
|
15. |
Reserve excluding Revaluation reserve |
0.000 |
0.000 |
0.000 |
|
16. |
Earnings Per Share (EPS) before and after extraordinary items (of Rs.
10/- each) a) Basic b) Diluted |
0.30 0.30 |
0.41 0.41 |
0.54 0.54 |
|
|
|
|
|
|
|
Part II |
|
|
|
|
|
A. |
PARTIULARS OF SHAREHOLDINGS |
|
|
|
|
|
Public
Shareholding |
|
|
|
|
|
- Number of Shares |
40113848 |
32613848 |
40113848 |
|
|
- Percentage of Shareholding |
12.02% |
10.00% |
12.02% |
|
|
Promoters and
Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
0.000 |
0.000 |
0.000 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
0.000 |
0.000 |
0.000 |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
0.000 |
0.000 |
0.000 |
|
|
b) Non
Encumbered |
|
|
|
|
|
- Number of Shares |
293524630 |
293524630 |
293524630 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
100.00% |
100.00% |
100.00% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the Company) |
NIL |
NIL |
NIL |
|
PARTICULARS |
For the quarter ended 31ST December
2014 |
|
B INVESTORS COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
Disposed during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER ENDED 30TH JUNE
2014
(Rs. in millions)
|
Sr. No. |
Particulars |
3 months ended |
Preceding 3 monts ended |
Year to date figures for current period ended |
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
||
|
Uuaudited |
Unaudited |
Unaudited |
||
|
A |
Segment Revenue |
|
|
|
|
|
a)
Tea |
684.814 |
627.796 |
1581.653 |
|
|
b)
Electrical |
313.188 |
328.169 |
919.950 |
|
|
c)
Engineering |
32.931 |
77.595 |
132.949 |
|
|
Total |
1030.933 |
1033.560 |
2634.552 |
|
|
|
|
|
|
|
B |
Segment Results |
|
|
|
|
|
Profit/(Loss)
(Before Tax and Interest) For
each Segment |
|
|
|
|
|
a)
Tea |
129.870 |
145.801 |
293.536 |
|
|
b)
Electrical |
(7.959) |
4.151 |
(20.699) |
|
|
c)
Engineering |
(14.873) |
(7.966) |
(48.687) |
|
|
Total |
107.038 |
141.986 |
224.150 |
|
|
|
|
|
|
|
|
Less:
|
|
|
|
|
|
i)
Interest |
29.256 |
31.272 |
88.959 |
|
|
ii)
Other Unallocable Expenditure net of
Unallcable Income |
(18.815) |
(23.718) |
(42.548) |
|
|
Total Profit Loss Before Taxation |
96.597 |
134.432 |
177.739 |
|
|
|
|
|
|
|
C |
Capital Employed (Segment
Assets - Segment Liabilities) |
|
|
|
|
|
a)
Tea |
2182.768 |
2053.922 |
2182.768 |
|
|
b)
Electrical |
(241.810) |
(214.541) |
(241.810) |
|
|
c)
Engineering |
(51.183) |
(31.056) |
(51.183) |
|
|
Total |
2275.672 |
2179.075 |
2275.672 |
Contingent
liabilities not provided for in respect of :
a] Claims against the Company not acknowledged as debts Rs. 6.877 million (Rs. 6.877 million)
[b] Guarantees and Indemnities given to various Institutions and Authorities in connection with Company’s operations amounting to Rs. 215.951 million (Rs. 146.965 million).
[c] Guarantees given to Banks on behalf of other Group and/or Associate Companies :
[i] *India Paper Pulp Co. Ltd. – Rs. 26.500 million (Rs. 26.500 million).
[ii] Other Companies – Rs. 41.145 million (Rs. 32.800 million) on behalf of Hooghly Printing Co. Ltd., a Subsidiary of the Company.
* In respect of item Nos.(i) above, although the notice of invocation of guarantees has been received neither any payment nor any provision has been made as the matter is sub-judice.
[d] Disputed Sales Tax aggregating to Rs. 285.175 million (Rs. 417.860 million). The demand under the WBST, CST, AGST and OST Acts are according to the opinion of the Company, erroneously raised for which appeals have been preferred at higher Forums of Sales Tax Authority.
[e] Aggregate Income Tax demands including penalty amounting to Rs. 43.849 million (Rs. 53.311 million) excluding interest not admitted, against which appeals have been preferred by the Company.
[f] Disputed Excise/Customs Duty/Service Tax claims Rs. 44.728 million (Rs. 44.728 million) excluding interest against which appeal have been preferred by the Company.
[g] Unexpired Letter of Credit opened by the Company’s Bankers – Rs. 197.941 million (Rs. 137.247 million).
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipments
- Furniture and
Fixture
- Office
Equipments
- Vehicles
- Water
Insatallation
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.82 |
|
|
1 |
Rs. 95.27 |
|
Euro |
1 |
Rs. 69.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.