MIRA INFORM REPORT
|
Report No. : |
311950 |
|
Report Date : |
14.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
POWERICA LIMITED (w.e.f. 05.10.1989) |
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|
|
|
Formerly Known
As : |
CONSOLIDATED POWER SYSTEMS LIMITED |
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|
|
|
Registered
Office : |
9th Floor, Bakhtawar, Nariman Point, Mumbai – 400 021,
Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
04.05.1984 |
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|
|
|
Com. Reg. No.: |
11-032825 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.93.610 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31100MH1984PLC032825 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15268B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP3812E |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacturing and trading in diesel generating sets, components and erection, installation, commissioning, operation, maintenance and other services relating to diesel generating sets and also engaged in generation of electricity from Wind Turbine Generators. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavorable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track. The rating reflects Powerica’s strong market position and its healthy
financial risk profile, marked by low gearing and healthy debt protection
metrics during FY 14. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CRISIL |
|
Rating |
Long term rating : “AA” |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
01.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : “A1 +” |
|
Rating Explanation |
Strong degree of safety and carry lowest credit risk. |
|
Date |
01.12.2014 |
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.
LOCATIONS
|
Registered/ Corporate Marketing Office: |
9th Floor, Bakhtawar, Nariman Point, Mumbai – 400 021, Maharashtra,
India |
|
Tel. No. : |
91-22-66562525 |
|
Fax No. : |
91-22-43152515 |
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E-Mail : |
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|
Website : |
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Administrative office : |
115, Mittal Court, B-Wing, Nariman Point, Mumbai – 400 021,
Maharashtra, India |
|
Tel. No.: |
91-22- 66562525 / 66562510 / 2282 5949 |
|
Fax No.: |
91-22-22043782 |
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E-Mail : |
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|
Factory : |
Plot No. 102/2, Village Khutli,
Dudhani Road, Khanvel, Silvassa – 396230, Dadra And Nagar Haveli, India |
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|
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Factory 1 : |
Taloja |
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Tel. No.: |
91-22-67771500/6771600 |
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Fax No.: |
91-22-27412221 |
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E-Mail : |
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Factory 2 : |
Taloja Factory (Design
Department) B-8, MIDC Industrial Area, Taloja, Raigad, |
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Tel. No.: |
91-22-67771500/6777160 |
|
Fax No.: |
91-22-27402609/27411531 |
|
Contact Person: |
Mr. U.A. Gadiyar |
|
|
|
|
Factory 3 : |
Bangalore Shed –
III Bommanahalli Village, Neelamangala Taluk, Bangalore – 560 123,
Karnataka, India |
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Tel. No.: |
91-80-27724994/5 27722392 |
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Fax No.: |
91-80-27724946 |
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E-Mail : |
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Factory 4 : |
8-10, Surpreme Industrial Area, Bhimpore Village, Daman – 396 210,
Daman and Diu, India |
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Tel. No.: |
91-260-2220707 |
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Fax No.: |
91-260-2220836 |
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E-Mail : |
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Branch Office 1 : |
#40-5/3-2, 2nd Floor, Shyam Nagar, Tikkle Road, Krishna Dist, Labbipet, Vijayawada – 520002, Andhra Pradesh, India |
|
Tel. No.: |
91-866-6622750 / 6622751 |
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Branch Office: |
Also located at: · Ahmedabad · Aurangabad · Bangalore · Chennai · Coimbatore · Daman · Faridabad · Goa · Kochi · Kolkata · Madurai · Nagpur · Nashik · Pune · Secunderabad |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Naresh Chander Oberoi |
|
Designation : |
Managing Director |
|
Address : |
181-B, Jolly Maker Apartment, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India |
|
Date of Birth/Age : |
03.03.1942 |
|
Experience : |
48 Years |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AAEPO2381A |
|
DIN No. : |
00009000 |
|
|
|
|
Name : |
Mr. Bharat Naresh Oberoi |
|
Designation : |
Whole-time director |
|
Address : |
31-B, Maker Tower, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1971 |
|
Experience : |
22 Years |
|
Date of Appointment : |
01.04.2011 |
|
PAN No. : |
AAAPO0724D |
|
DIN No. : |
00083664 |
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|
|
|
Name : |
Mr. Rajat Naresh Oberoi |
|
Designation : |
Whole-Time Director |
|
Address : |
171-B, 17th Floor, Jolly Maker Appartment, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1972 |
|
Experience : |
22 Years |
|
Date of Appointment : |
01.04.2011 |
|
PAN No. : |
AAAPO0477D |
|
DIN No. : |
00014977 |
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|
|
|
Name : |
Mr. Kharati Ram Puri |
|
Designation : |
Whole-Time Director |
|
Address : |
50 Sunita, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India |
|
Date of Birth/Age : |
10.04.1926 |
|
Qualification : |
Bachelor of Arts |
|
Experience : |
62 Years |
|
Date of Appointment : |
01.11.2013 |
|
PAN No. : |
AAEPP8874D |
|
DIN No. : |
00015011 |
|
|
|
|
Name : |
Mr. Nainesh Jaisingh |
|
Designation : |
Nominee Director |
|
Address : |
A-33, Meherina, 51C, Nepean Sea Road, Mumbai – 400 036, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1967 |
|
Qualification : |
Bachelors Degree (Honors) in Technology |
|
Date of Appointment : |
01.10.2007 |
|
DIN No. : |
00061014 |
|
|
|
|
Name : |
Mr. Dinesh Kumar |
|
Designation : |
Director |
|
Address : |
21, 17th Cross Malleshwram Bangalore – 560 055, Karnataka, India. |
|
Date of Birth/Age : |
02.12.1937 |
|
Qualification : |
Post graduation degree from Military Studies from Defence Services Staff College |
|
Date of Appointment : |
25.09.2009 |
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DIN No. : |
01133565 |
|
|
|
|
Name : |
Mr. Ghanshyam Dass |
|
Designation : |
Director |
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Address : |
31A, Sobha Emerald, Sobha Suburb, 1A, Behind Jakkur Flying Club, Jakkur, Bangalore – 560 064, Karnataka, India |
|
Date of Birth/Age : |
11.07.1952 |
|
Qualification : |
Graduation degree with Honors in Economics and Post graduation degree in Linguistics |
|
Date of Appointment : |
12.07.2011 |
|
DIN No. : |
01807011 |
|
|
|
|
Name : |
Mr. Krishen Dev |
|
Designation : |
Director |
|
Address : |
Plot No.16, Pallod Farms – II, Banner, Pune – 411 045, Maharashtra, India |
|
Date of Birth/Age : |
03.03.1939 |
|
Qualification : |
Graduation degree in Chemical Engineering |
|
Date of Appointment : |
12.07.2011 |
|
DIN No. : |
00001534 |
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|
|
|
Name : |
Mr. Udai Dhawan |
|
Designation : |
Alternate Director |
|
Address : |
107, 1st Floor, Anand Lok, New Delhi – 110049, Delhi, India |
|
Date of Birth/Age : |
17.01.1973 |
|
Date of Appointment : |
20.02.2014 |
|
DIN No. : |
03048040 |
|
|
|
|
Name : |
Mr. Prakash Yashwant Gurav |
|
Designation : |
Director |
|
Address : |
Mritinjaya Apartments, 3rd Floor, 54 Ideal Colony, Kothrud, Pune – 411029, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1953 |
|
Date of Appointment : |
03.07.2012 |
|
DIN No. : |
02004317 |
KEY EXECUTIVES
|
Name : |
Ms. Kety Pillo Mistry |
|
Designation : |
Secretary |
|
Address : |
Kalpak Hormus, Flat No. 501, |
|
Date of Birth/Age : |
20.03.1956 |
|
Date of Appointment : |
01.05.1998 |
|
PAN No.: |
AHXPM9896J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Naresh Chander Oberoi |
|
24710472 |
|
Kharati Ram Puri |
|
5883120 |
|
Rajat Naresh Oberoi |
|
3888054 |
|
Renu Sachin Mehra |
|
1476000 |
|
Nedungadi B. T. |
|
398043 |
|
Lata Naresh Oberoi |
|
756000 |
|
Bharat Naresh Oberoi |
|
4181994 |
|
Sunil Kumar Khurana |
|
3456 |
|
Standard Chartered Private Equity ( |
|
4129713 |
|
Standard Chartered Private Equity ( |
|
1376568 |
|
Total |
|
46803420 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
11.76 |
|
Directors or relatives of Directors |
87.38 |
|
Other top fifty shareholders |
0.86 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the manufacturing and trading in diesel generating sets,
components and erection, installation, commissioning, operation, maintenance
and other services relating to diesel generating sets and also engaged in
generation of electricity from Wind Turbine Generators. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of Mysore, Cunningham Road Branch, Bangalore -
560052, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kapoor and Parekh Associates Chartered Accountants |
|
Address : |
701, Business Suites 9, S V Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFK1612L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company: |
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Associated Company: |
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Enterprises which
are owned, or have Significant influence of or are partners with Key
management personnel and their
relatives: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs.2/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
46803420 |
Equity Shares |
Rs.2/- each |
Rs.93.607 millions |
|
|
|
|
|
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 |
93.610 |
93.610 |
93.607 |
|
(b) Reserves & Surplus |
8078.740 |
7838.730 |
7350.777 |
|
(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) |
8172.350 |
7932.340 |
7444.384 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2502.500 |
1903.630 |
1479.130 |
|
(b) Deferred tax liabilities
(Net) |
1325.020 |
1352.490 |
984.618 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
10.610 |
19.620 |
13.374 |
|
Total
Non-current Liabilities (3) |
3838.130 |
3275.740 |
2477.122 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
20.890 |
312.979 |
|
(b) Trade payables |
1024.320 |
1859.880 |
1316.918 |
|
(c) Other current liabilities |
1550.640 |
1966.790 |
1922.006 |
|
(d) Short-term provisions |
46.380 |
8.600 |
69.956 |
|
Total
Current Liabilities (4) |
2621.340 |
3856.160 |
3621.859 |
|
|
|
|
|
|
TOTAL |
14631.820 |
15064.240 |
13543.365 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6117.340 |
6449.870 |
7284.688 |
|
(ii) Intangible Assets |
7.040 |
10.500 |
2.592 |
|
(iii) Capital work-in-progress |
299.980 |
61.990 |
99.726 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
38.300 |
52.320 |
52.355 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2131.440 |
1012.600 |
767.275 |
|
(e) Other Non-current assets |
1.430 |
4.090 |
3.289 |
|
Total
Non-Current Assets |
8595.530 |
7591.370 |
8209.925 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3390.960 |
1571.950 |
1489.756 |
|
(b) Inventories |
964.970 |
2092.010 |
1179.784 |
|
(c) Trade receivables |
1247.730 |
1452.550 |
1403.572 |
|
(d) Cash and cash equivalents |
192.030 |
2122.960 |
989.153 |
|
(e) Short-term loans and
advances |
240.260 |
192.110 |
228.462 |
|
(f) Other current assets |
0.340 |
41.290 |
42.713 |
|
Total
Current Assets |
6036.290 |
7472.870 |
5333.440 |
|
|
|
|
|
|
TOTAL |
14631.820 |
15064.240 |
13543.365 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
11569.740 |
14524.850 |
11612.526 |
|
|
Other Income |
289.720 |
345.270 |
200.000 |
|
|
TOTAL
(A) |
11859.460 |
14870.120 |
11812.526 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
7639.720 |
9812.990 |
7897.846 |
|
|
Purchases of Stock-in-Trade |
777.680 |
877.110 |
691.243 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
78.860 |
(43.480) |
15.957 |
|
|
Employees benefits expense |
713.060 |
683.75 |
616.101 |
|
|
Other expenses |
1046.420 |
1155.08 |
782.387 |
|
|
TOTAL
(B) |
10255.740 |
12485.450 |
10003.534 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1603.720 |
2384.670 |
1808.992 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
65.890 |
188.46 |
94.178 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1537.830 |
2196.210 |
1714.814 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
919.300 |
1011.98 |
705.78 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
618.530 |
1184.230 |
1009.034 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
159.500 |
369.890 |
382.395 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
459.030 |
814.340 |
626.639 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5449.640 |
5043.110 |
4642.341 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
45.900 |
81.430 |
62.661 |
|
|
Interim Dividend |
187.210 |
280.820 |
93.606 |
|
|
Tax on Dividend |
31.820 |
45.560 |
22.778 |
|
|
Proposed Dividend |
0.000 |
0.000 |
46.803 |
|
|
Balance
Carried to the B/S |
5643.740 |
5449.640 |
5043.132 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
45.370 |
15.870 |
NA |
|
|
TOTAL
EARNINGS |
45.370 |
15.870 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
9.81 |
17.40 |
13.39 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.97 |
5.61 |
5.40 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.86 |
16.42 |
15.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.33 |
7.92 |
7.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.15 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.24 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30 |
1.94 |
1.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
93.607 |
93.610 |
93.610 |
|
Reserves & Surplus |
7350.777 |
7838.730 |
8078.740 |
|
Net
worth |
7444.384 |
7932.340 |
8172.350 |
|
|
|
|
|
|
long-term borrowings |
1479.130 |
1903.630 |
2502.500 |
|
Short term borrowings |
312.979 |
20.890 |
0.000 |
|
Total
borrowings |
1792.109 |
1924.520 |
2502.500 |
|
Debt/Equity
ratio |
0.241 |
0.243 |
0.306 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
11612.526 |
14524.850 |
11569.740 |
|
|
|
25.079 |
(20.345) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
11612.526 |
14524.850 |
11569.740 |
|
Profit |
626.639 |
814.340 |
459.030 |
|
|
5.40% |
5.61% |
3.97% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted
from 74, A Wing, Mittal Court, Nariman Point, Mumbai -400021, Maharashtra,
India to the present address w.e.f. 15.10.2012
GLOBAL ECONOMIC
CONDITIONS IMPACTING PERFORMANCE OF THE COMPANY:
The world Gross Domestic Product (G.D.P.), as reported by the International Monetary Fund, witnessed a moderate growth of 3.1% in 2012 as compared to growth of 3.90% in 2011. Projections for 2013 and 2014 stands at 3.1% and 3.8% respectively. While growth in advanced economies was 1.2% in 2012 in contrast to 1.7% in 2011, growth in the emerging and developing economies fell to 4.9% in 2012 compared to 6.2% in 2011.
Projection for growth in 2013 stood at 5.0%, which is anticipated to grow at 5.4% in 2014.
Report also states that cyclical positions and vulnerabilities vary across emerging market and developing economies, but prospects of monetary policy normalization in the United States and a potential capital flow reversal have heightened some policy tradeoffs.
In the backdrop of a weak global economy and a challenging market situation in India, top line growth of the Company was seriously impacted which is 20.35% lower than the last year. Government of India has notified revised Central Pollution Control Board (CPCB) norms, which has become effective from July 1, 2014. This upward revision in the norms is expected to increase the cost of engines purchased by the Company, which the Company hopes to pass on to the Consumers, which in the short run may further impact the top line growth of the Company. Board is confident that in the long run Company will be able to improve both the top line as well as bottom line of performance of the Company.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10521092 |
08/08/2014 |
150,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR,, NEW MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
C21633359 |
|
2 |
10496714 |
21/04/2014 |
1,220,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEW MITHAKALI SIX ROADS,, AHMEDABAD, GUJARAT - 380006, INDIA |
C05191192 |
|
3 |
10490996 |
31/03/2014 |
1,000,000,000.00 |
BNP PARIBAS |
UNIT NO. 203, SAKAR II, NEAR TOWN HALL,, EIIIS BRIDGE,, AHMEDABAD, GUJARAT - 380006, INDIA |
C03988995 |
|
4 |
10335353 |
07/02/2012 |
1,000,000,000.00 |
CITIBANK N. A. |
14, VALMIK COMPLEX,, NEAR PARIMAL GARDEN, AMBAWADI,, AHMEDABAD, GUJARAT - 380006, INDIA |
B32027724 |
|
5 |
10261400 |
15/12/2010 |
455,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II,, MITHAKALI SIX ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
B03356250 |
|
6 |
10208319 |
30/01/2012 * |
450,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
B60828027 |
|
7 |
90229643 |
17/06/2009 * |
350,000,000.00 |
CITIBANK N.A. |
BANDRA KURLA COMPLEX, G-BLOCK, BANDRA EAST,, MUMBAI, MAHARASHTRA - 400051, INDIA |
A64034424 |
|
8 |
90231935 |
16/10/1999 * |
80,000,000.00 |
BANQUE NATIONALE DE PARIS |
FRENCH BANK BUILDING 62 HOMJI STREET, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
9 |
90235689 |
21/07/2006 * |
80,000,000.00 |
BNP PARIBAS |
FRENCH BANK BUILDING, 62, HOMJI STREET, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
10 |
90227901 |
05/02/1991 * |
5,500,000.00 |
BANQUE NATIONALE DE PARIS |
62 HOMJI STREET, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Office Building
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.62.67 |
|
|
1 |
Rs.93.16 |
|
Euro |
1 |
Rs.66.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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.