MIRA INFORM REPORT
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Report No. : |
351313 |
|
Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
CROMPTON GREAVES LIMITED |
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|
|
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Registered
Office : |
6th
Floor, C.G. House, Dr. Annie Besant Road, Worli, Mumbai – 400030, Maharashtra |
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Tel. No.: |
91-22-24237777 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
28.04.1937 |
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Com. Reg. No.: |
11-002641 |
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Capital
Investment / Paid-up Capital : |
Rs. 1253.500 Million |
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CIN No.: [Company Identification
No.] |
L99999MH1937PLC002641 |
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IEC No.: |
0388062916 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMCO5628A |
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PAN No.: [Permanent Account No.] |
AAACC3840K |
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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
: |
Manufacturer of electrical and allied equipments. |
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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 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Madhav Acharya |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-22-24237777 |
LOCATIONS
|
Registered Office : |
6th
Floor, C.G. House, Dr. Annie Besant Road, Worli, Mumbai – 400030,
Maharashtra, India |
|
Tel. No.: |
91-22-24237777 |
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Fax No.: |
91-22-24237733 |
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E-Mail : |
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Website : |
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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, 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, 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, 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, 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 |
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Regional Office : |
3rd Floor, Express Building, 9-10 Bahadur Shah Zafar Marg, Near to
Crossing, New Delhi - 110001, India |
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Regional Sales Office : |
Northern Region Located at:
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DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Gautam Thapar
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Designation : |
Chairman |
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Name : |
Mr. Laurent Demortier |
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Designation : |
CEO and Managing
Director |
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Name : |
Mr. Shirish M.
Apte |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. Omkar Goswami
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Designation : |
Non-Executive
Director |
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Name : |
Mr .B Hariharan |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. Sanjay Mohan
Labroo |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. Meher Pudumjee |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. Valentin
von Massow |
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Designation : |
Non-Executive
Director |
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Name : |
Mr. Colette
Lewiner |
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Designation : |
Non-Executive
Director |
KEY EXECUTIVES
|
Name : |
Mr. Madhav. Acharya |
|
Designation : |
Chief Financial Officer |
SHAREHOLDING PATTERN
AS ON 30.09.2015
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding
as a % of Total No. of Shares |
|
(A) Shareholding of
Promoter and Promoter Group |
||
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|
|
|
|
|
215451070 |
34.43 |
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|
215451070 |
34.43 |
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Total shareholding of
Promoter and Promoter Group (A) |
215451070 |
34.43 |
|
(B) Public Shareholding |
||
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|
|
|
|
|
152212336 |
24.32 |
|
|
1197414 |
0.19 |
|
|
44742220 |
7.15 |
|
|
104675845 |
16.73 |
|
|
302827815 |
48.39 |
|
|
|
|
|
|
49911021 |
7.98 |
|
|
|
|
|
|
45939399 |
7.34 |
|
|
8302682 |
1.33 |
|
|
3350311 |
0.54 |
|
|
2092323 |
0.33 |
|
|
61678 |
0.01 |
|
|
1192002 |
0.19 |
|
|
4308 |
0.00 |
|
|
107503413 |
17.18 |
|
Total Public shareholding
(B) |
410331228 |
65.57 |
|
Total (A)+(B) |
625782298 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
963844 |
0.00 |
|
|
963844 |
0.00 |
|
Total (A)+(B)+(C) |
626746142 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of electrical and allied equipments. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, Advance, L\C and Credit (30,60,90 Days) |
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Purchasing : |
Cash, Advance, L\C and Credit (30,60,90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
10000 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Financial Institution: |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, India |
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Auditors : |
|
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Name : |
Sharp and Tannan Chartered Accountant |
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Solicitors : |
Crawford Bayley
and Company |
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Subsidiaries : |
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Associates: |
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Other related parties in which directors are interested: |
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CAPITAL STRUCTURE
As On: 31.03.2015
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2038000000 |
Equity Shares |
Rs. 2/- Each |
Rs.4076.000 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:
|
|
31.03.2015 |
|
|
Authorised share capital: |
No. of Shares |
Rs. in Million |
|
|
|
|
|
Balance at the beginning of the year |
1805000000 |
3610.000 |
|
Amalgamation of wholly-owned subsidiaries with the company (Refer note
below) |
233000000 |
466.000 |
|
Balance at the end of the year |
2038000000 |
4076.000 |
During the year, the Company’s authorised share capital has increased from Rs. 3610.000 Million to Rs. 4076.000 Million Comprising of 2038000000 number of equity shares of Rs. 2 each on amalgamation of CG Energy Management Limited and CG-ZIV Power Automation Solution Limited, wholly owned subsidiaries, with the Company on 1st April, 2014.
|
Issued share
capital |
31.03.2015 |
|
|
|
No. of Shares |
Rs. in Million |
|
|
|
|
|
Balance at the beginning of the year |
626788442 |
1253.500 |
|
Less: Shares bought back |
- |
- |
|
Balance at the end of the year |
626788442 |
1253.500 |
|
Subscribed & Paid-up |
31.03.2015 |
|
|
|
No. of Shares |
Rs. in Million |
|
|
|
|
|
Balance at the beginning of the year |
626746142 |
1253.500 |
|
Less: Shares bought back |
- |
- |
|
Balance at the end of the year |
626746142 |
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 |
31.03.2015 |
|
|
% |
No. of Shares |
|
|
1. Avantha Holdings limited |
34.37 |
215442496 |
|
2. HDFC Trustee company limited – (HDFC Rajiv Gandhi Equity Savings
Scheme Series – 1 Feb, 2013) |
9.22 |
57809500 |
|
3. life insurance corporation of India |
4.80 |
30071908 |
There are no shares reserved for issue under options
and contracts / commitments for the sale of shares / disinvestment.
Aggregate number of bonus shares issued during the period of five years
immediately preceding the reporting date:
|
Particulars |
31.03.2015 |
|
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 |
31.03.2015 |
|
No. of Shares |
|
|
|
|
|
Shares bought back |
14745394 |
|
|
|
Aggregate number of bonus shares issued as GDRs:
|
Particulars |
31.03.2015 |
|
|
% |
No. of Shares |
|
|
|
|
|
|
The Bank of New York |
0.16 |
973844 |
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 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
525.000 |
450.000 |
|
|
1st
Interim Dividend |
250.700 |
251.900 |
256.600 |
|
|
2nd
Interim Dividend |
250.700 |
250.700 |
256.600 |
|
|
3rd
Interim Dividend |
0.000 |
0.000 |
0.000 |
|
|
Proposed
Dividend |
0.000 |
250.700 |
256.600 |
|
|
Corporate
Dividend Tax |
0.000 |
128.000 |
126.900 |
|
|
Total (M) |
501.400 |
27508.400 |
23703.800 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
27007.000 |
5210.900 |
4458.400 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
9384.600 |
9021.600 |
8310.500 |
|
|
Service Income |
60.500 |
87.600 |
57.700 |
|
|
Other Earnings |
298.900 |
296.500 |
212.700 |
|
|
Others |
501.700 |
501.900 |
190.700 |
|
|
TOTAL EARNINGS |
10245.700 |
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 |
636.200 |
3.500 |
3.800 |
|
Cash generated from operations |
NA |
0.000 |
0.000 |
|
Cash (used in) / from operations |
(4363.200) |
5750.000 |
2912.300 |
|
Net cash (used in) / from operating activities |
(6801.000) |
3195.500 |
1811.500 |
QUARTERLY RESULTS
|
Particulars |
|
30.06.2015 (Unaudited) |
30.09.2015 (Unaudited) |
|
|
|
|
|
|
Net Sales |
|
18404.700 |
19238.200 |
|
Total Expenditure |
|
17296.700 |
17605.000 |
|
PBIDT (Excl OI) |
|
1108.000 |
1633.200 |
|
Other Income |
|
921.000 |
485.600 |
|
Operating Profit |
|
2029.000 |
2118.800 |
|
Interest |
|
NA |
NA |
|
Exceptional Items |
|
(11.000) |
(1.300) |
|
PBDT |
|
2018.000 |
2117.500 |
|
Depreciation |
|
257.700 |
253.100 |
|
Profit Before Tax |
|
1760.300 |
1864.400 |
|
Tax |
|
496.800 |
520.800 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit After Tax |
|
1263.500 |
1343.600 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
1263.500 |
1343.600 |
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) |
|
0.18 |
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. 196.70/- |
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 |
|
Current maturities of long-term
debts |
3.800 |
3.500 |
636.200 |
|
Total
borrowings |
140.600 |
308.800 |
7193.800 |
|
Debt/Equity
ratio |
0.005 |
0.009 |
0.179 |
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 |
Reg. Date:- 17.07.2015 |
|
|
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:- |
11.09.2015 |
Stage:- |
TAX APPEALS |
||
|
Last Coram:- |
ACCORDING TO SITTING LIST |
||||
|
|
|||||
|
Act :- |
Income Tax Act, 1961 Under Section:- 260A |
||||
AMALGAMATION:
The Board of Directors, at their meeting held on 29 January 2014, approved the amalgamation of CG-ZIV Power Automation Solutions Limited (CG-ZIV) and CG Energy Management Limited (CGEM), wholly owned subsidiaries of the Company, with the Company, for simplification of the shareholding structure and operational synergies, as reported in the previous year’s Directors’ Report.
A Scheme of Amalgamation filed with the Hon’ble High Court of Bombay was duly approved by the High Court and the said Scheme became effective on 25 March 2015, with 1 April 2014, as the appointed date. The Amalgamation of CG -ZIV and CGEM with the Company has resulted in an increase in the Authorised Share Capital of the Company by Rs.46.60 crore. Being wholly owned subsidiaries of the Company, the entire paid-up share capital of CG-ZIV and CGEM would be cancelled and both the companies would stand dissolved without winding up.
DEMERGER:
The Company operates in two business domains – B2B comprising Power, Industrial and Automation businesses and B2C which comprises the Consumer Products Business. With a view to create better growth opportunities for its two large but significantly different businesses, the Board of Directors have considered it prudent to demerge the B2B business and B2C business by transfer of the entire Consumer Products Business of the Company into a separate Company under a Scheme of Demerger. The Board believes that the demerger will create greater Independence and flexibility in pursuing growth opportunities for the B2B and B2C businesses under two stronger and independent entities and thereby unlocking shareholder value. After considering the comments from stakeholders and regulatory authorities, the Board approved a Scheme of Arrangement (Scheme) for the demerger at its meeting held on 3 March 2015, under which, the Consumer Products Business of the Company will be transferred into, Crompton Greaves
Consumer Electricals Limited (CGCEL), which, upon demerger, shall be listed on the Stock Exchanges, subject to receiving regulatory and statutory approvals. The Scheme approved by the Board, proposes that upon sanction of the Scheme by the Hon’ble High Court of Bombay, the shareholders of the Company will be allotted one equity share of CGCEL for every equity share held in the Company. The Scheme has been filed in the High Court of Bombay for directions for convening meeting of shareholders of the Company for approval of the Scheme. The Company has received an intimation from Avantha Holdings Limited, one of the entities of the promoter group of the Company, addressed to the Stock Exchanges announcing its intention to divest its 34.37% proposed shareholding in CGCEL to be allotted consequent to the sanction of the Scheme of Demerger, to one or more special purpose vehicles managed by Advent International Corporation, USA and a wholly owned subsidiary of Temasek Holdings (Private) Limited for an aggregate consideration of Rs 2000 crore, subject to requisite consents and approvals.
MANAGEMENT DISCUSSION
& ANALYSIS
Subject is a global enterprise providing end-to-end solutions to utilities, industries and consumers for the management and application of efficient and sustainable electrical energy. At a conceptual level, CG’s businesses are divided according to two broad areas of work: those that are essentially B-to-B and cater to business segments, and those that are B-to-C which focus on consumer needs.
The B-to-B segment
covers three businesses. These are:
- Power transmission and distribution equipment and system solutions covering a Wide span of differentiated products and services from ultra-high voltage (UHV), high voltage (HV), medium voltage (MV) and low voltage (LV).
- Automation solutions for efficient electrical distribution. The Industrial Business Unit consisting of rotating machines (motors and alternators) across a wide spectrum of power and ratings, automated AC, DC and variable frequency drives and control systems as well as traction electronics and machines, signaling and coach products and integrated solutions for railway transportation.
Customers of the B-to-B segments comprise major utilities and industries across the globe —in generation, transmission, distribution, renewables, oil and gas, cement, metals and mining and the transportation sector. The B-to-C business meets the electrical needs of individuals, households, municipalities, shops and offices through a variety of enduser electrical products such as fans, lighting equipment (lamps and luminaires), pumps
BUSINESS PERFORMANCE,
FY2015
Chart a plots the change in net revenues of
the three main businesses:
- CG’s Power Systems’ net revenues was virtually flat at Rs.85740.000 Million
- The net revenue from Industrial Systems fell by 0.9% to Rs.18410.000 Million
- Net revenue from Consumer Products rose by 11.5% to Rs.32330.000 Million
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2015
(Rs. In Million)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Six Months Ended ( Unaudited) |
|
|
30.09.2015 |
30.06.2015 |
30.06.2015 |
|
|
|
|
|
|
1. Income
from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
19238.200 |
18404.700 |
37642.900 |
|
b) Other operating income |
-- |
-- |
-- |
|
Total
income from Operations(net) |
19238.200 |
18404.700 |
34642.900 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
8563.800 |
8927.100 |
17490.900 |
|
b) Purchases of stock in trade |
4638.200 |
6179.300 |
10817.500 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
814.000 |
(1398.400) |
(584.400) |
|
d) Employees benefit expenses |
1336.500 |
1385.000 |
(584.400) |
|
e) Depreciation and amortization expenses |
253.100 |
257.000 |
136.480 |
|
f) Other expenditure |
2252.500 |
2203.700 |
4454.200 |
|
Total expenses |
17858.100 |
17554.400 |
35410.500 |
|
3. Profit from operations before other income and
financial costs |
1380.100 |
850.300 |
2232.400 |
|
4. Other income |
99.400 |
300.200 |
397.600 |
|
5. Profit from ordinary activities before finance costs |
1479.500 |
1150.500 |
2630.000 |
|
6. Finance costs |
(68.300) |
(92.400) |
(160.700) |
|
7. Net profit/(loss) from
ordinary activities after finance costs but before exceptional items |
1547.800 |
1242.900 |
2790.700 |
|
Exchange gain/ (Loss) |
317.900 |
528.400 |
846.300 |
|
8. Exceptional item |
(01.300) |
(11.000) |
(12.300) |
|
9. Profit from ordinary
activities before tax Expense: |
1864.400 |
1760.300 |
3624.700 |
|
10.Tax expenses |
520.800 |
496.800 |
1017.600 |
|
11.Net Profit / (Loss) from ordinary activities
after tax (9-10) |
1343.600 |
1263.500 |
2607.100 |
|
12.Extraordinary Items (net
of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for
the period (11 -12) |
1343.600 |
1263.500 |
2607.100 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
1253.500 |
1253.500 |
1253.500 |
|
15. Reserve excluding Revaluation Reserves as per balance sheet of
previous accounting year |
-- |
-- |
-- |
|
16.i) Earnings per share (before
extraordinary items) of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic |
2.14 |
2.02 |
4.16 |
|
(b) Diluted |
2.14 |
2.02 |
4.16 |
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Six Months Ended ( Unaudited) |
|
|
30.09.2015 |
30.06.2015 |
30.06.2015 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
411295072 |
411295072 |
411295072 |
|
- Percentage of shareholding |
65.62 |
65.62 |
65.62 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
178186405 |
143054975 |
178186405 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
82.70 |
86.40 |
82.70 |
|
Percentage of shares (as a % of total share capital of the
company) |
28.43 |
22.83 |
28.43 |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
37264665 |
72396095 |
37264665 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
17.30 |
33.60 |
17.30 |
|
|
|
|
|
|
Percentage of shares (as a % of total share capital of the
company) |
5.95 |
11.55 |
5.95 |
|
|
|
|
|
|
B.
Investor Complaints |
3
Months Ended |
|
|
|
|
30.09.2015 |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
|
Receiving during the quarter |
4 |
|
|
|
Disposed of during the quarter |
4 |
|
|
|
Remaining unreserved at the end of the quarter |
Nil |
|
|
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Million)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Six Months Ended ( Unaudited) |
|
|
30.09.2015 |
30.06.2015 |
30.06.2015 |
|
1. Segment Revenue |
|
|
|
|
a. Power Systems |
6877.700 |
3902.200 |
10779.900 |
|
b. Consumer products |
8044.200 |
9708.200 |
17752.400 |
|
c. Industrial Systems |
3856.500 |
3816.900 |
7673.400 |
|
b. Others |
528.700 |
1081.800 |
1610.500 |
|
Total |
19307.100 |
18509.100 |
37816.200 |
|
Less : Inter Segment Revenue |
68.900 |
104.400 |
173.300 |
|
Net Sales |
19238.200 |
18404.700 |
37642.900 |
|
|
|
|
|
|
2. Segment Result (Profit before Interest and Tax) |
|
|
|
|
a. Power Systems |
587.300 |
(265.500) |
321.800 |
|
b. Consumer products |
777.600 |
1387.800 |
905.300 |
|
c. Industrial Systems |
429.500 |
347.400 |
776.900 |
|
d. Others |
(118.300) |
(203.000) |
(321.300) |
|
Total |
1676.100 |
1266.700 |
2942.800 |
|
|
|
|
|
|
Add : Interest |
(68.300) |
(92.400) |
(160.700) |
|
Other un-allocable expenditure net of un-allocable income |
196.600 |
116.200 |
312.800 |
|
Profit before Tax |
1547.000 |
1242.900 |
2790.700 |
|
3. Capital Employed |
|
|
|
|
a. Power Systems |
11100.200 |
11162.300 |
11100.200 |
|
b. Consumer products |
(6523.800) |
(5529.500) |
(6523.800) |
|
c. Industrial Systems |
4020.300 |
3897.600 |
4020.300 |
|
d. Others |
2531.700 |
2119.200 |
2531.700 |
|
e. Unallocable |
32266.900 |
30371.800 |
32266.900 |
|
Total |
43395.300 |
42021.400 |
43395.300 |
STATEMENT
OF ASSETS AND LIABILITIES
|
SOURCES OF FUNDS |
30.09.2015 |
|
|
( Unaudited) |
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
1253.500 |
|
(b) Reserves &
Surplus |
41449.900 |
|
(c) Money received
against share warrants |
0.000 |
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
42703.400 |
|
|
|
|
(3) Non-Current Liabilities |
|
|
(a) long-term borrowings |
5705.800 |
|
(b) Deferred tax
liabilities (Net) |
686.400 |
|
(c) Other long term
liabilities |
21.200 |
|
(d) long-term provisions |
547.900 |
|
Total Non-current
Liabilities (3) |
6961.300 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
0.000 |
|
(b) Trade payables |
14673.000 |
|
(c) Other current
liabilities |
4536.100 |
|
(d) Short-term provisions |
1419.800 |
|
Total Current Liabilities
(4) |
20628.90 |
|
|
|
|
TOTAL |
70293.600 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
|
|
(ii) Intangible Assets |
|
|
(iii) Capital
work-in-progress |
|
|
(iv) Intangible assets under
development |
|
|
(b) Non-current
Investments |
10050.400 |
|
(c) Deferred tax assets
(net) |
0.000 |
|
(d) Long-term Loan and Advances |
419.100 |
|
(e) Other Non-current
assets |
0.000 |
|
Total Non-Current Assets |
18101.500 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
2337.600 |
|
(b) Inventories |
5823.400 |
|
(c) Trade receivables |
21520.500 |
|
(d) Cash and cash
equivalents |
977.90 |
|
(e) Short-term loans and
advances |
20471.500 |
|
(f) Other current assets |
1061.200 |
|
Total Current Assets |
52192.100 |
|
|
|
|
TOTAL |
70293.600 |
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 |
5.400 |
5.400 |
|
Total |
5.400 |
5.400 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
Claims against the company not acknowledged as debts |
190.600 |
91.800 |
|
Sales tax/VAT liability that may arise in respect of matters in appeal |
330.300 |
159.700 |
|
Excise duty/ customs duty/ service tax liability that may arise in respect of matters in appeal |
85.800 |
45.000 |
|
Income tax liability that may arise in respect of matters in appeal preferred by the department |
73.200 |
42.600 |
|
Guarantees / securities given on behalf of subsidiary companies |
13585.700 |
14564.500 |
|
Bills discounted |
347.200 |
915.200 |
|
Total |
14612.800 |
15818.800 |
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, 1ST 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.66.75 |
|
UK Pound |
1 |
Rs.100.68 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
YES |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.