MIRA INFORM REPORT
|
Report No. : |
345110 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNIL HITECH ENGINEERS LIMITED |
|
|
|
|
Registered
Office : |
‘Ratnadeep’ Jaynagar, Parli, Vaijnath, Beed - 431520, Maharashtra |
|
Tel. No.: |
91-712-2562087 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
29.05.1998 |
|
|
|
|
Com. Reg. No.: |
11-115155 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 152.752 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28920MH1998PLC115155 |
|
|
|
|
IEC No.: |
3103011342 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS7498N |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is engaged in
the business of Engineering, Procurement, Construction-(EPC), Fabrication,
Erection, Overhauling, Maintenance, Trading and other related activities. |
|
|
|
|
No. of Employees
: |
1472 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated as a proprietorship concern under
the name of Sunil Engineering Works in 1984 and was reconstituted as a
private limited company in 1998. The company changed its name to the current
one in August 2005 and came up with maiden offering of equity shares via an
Initial Public Offer (IPO) in January 2006. The company is a construction and
engineering company. For the financial year ended 2015, company has reported 15.13% revenue growth as compared to previous revenue and it has maintained above average profitability margins at 2.23% during the year under a review. Rating derive strength from extensive industry experience of promoters in construction and engineering industry supported by company’s established track record of business operations, reputed and diversified client base along with satisfactory financial profile and moderate solvency indicators of the company. However, rating strength is partially offset by working capital intensive nature of operations and susceptibility to delays in infrastructure projects executed by the company. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long-term Bank Facilities=A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
23.07.2015 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short-term Bank Facilities=A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
23.07.2015 |
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 DECLINED BY
|
Name : |
Mr. Mahesh Darji |
|
Designation : |
Deputy General Manager |
|
Contact No.: |
91-22-61872421 |
|
Date : |
14.10.2015 |
LOCATIONS
|
Registered Office : |
‘Ratnadeep’ Jaynagar, Parli, Vaijnath, Beed - 431520, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Office-Central Region : |
97, East High Court Road, Ramdaspeth, Nagpur – 440010, Maharashtra,
India |
|
Tel. No.: |
91-712-2562087 / 88 / 6685200 |
|
Fax No.: |
91-712-2562091 |
|
E-Mail : |
|
|
|
|
|
Regional Office-Northern Region : |
NCPL Web Tower, 1st Floor A-4, Sector
9, Noida – 201301, Uttar Pradesh, India |
|
|
|
|
Corporate Office : |
MET Educational
Complex, 6th Floor, “C” Wing, A.K. Vaidya Marg, Bandra Reclamation, Bandra
(West), Mumbai-400050, Maharashtra, India |
|
Tel. No.: |
91-22-61872400/97 |
|
Fax No.: |
91-22-61872455 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Ratnakar Manikrao Gutte |
|
Designation : |
Chairman |
|
Experience : |
33 Years |
|
|
|
|
Name : |
Mr. Sunil Ratnakar Gutte |
|
Designation : |
Managing Director |
|
Qualification : |
Mr. Sunil
Gutte is a mechanical engineer from the Pune University. He thereafter
completed the family business management course from S.P. Jain Institute of
Management, Mumbai and the project management course from IIM, Ahmedabad. |
|
Experience : |
It was under
his able guidance, expertise and a futuristic vision that Sunil Hitech
converted from a private limited to a limited concern and then to being
listed on the two major stock exchanges of India. Mr. Sunil Gutte
successfully completed the Company’s IPO in 2006 and QIP in 2008. His
dedication, and a keen understanding of business and finance, along with an
ability to draft and implement effective developmental policies, broadened
avenues for the Company to enter into various niche businesses. |
|
|
|
|
Name : |
Mrs. Sudhamati Ratnakar Gutte |
|
Designation : |
Whole Time Director |
|
Experience : |
17 Years |
|
|
|
|
Name : |
Mr. Vijay Ratnakar Gutte |
|
Designation : |
Whole Time Director |
|
Qualification : |
An MBA with specialisation in marketing and finance |
|
|
|
|
Name : |
Mr. Venkataramana Condoor |
|
Designation : |
Whole Time Director |
|
Experience : |
33 Years |
|
|
|
|
Name : |
Mr. Anupam Dhiman |
|
Designation : |
Whole Time Director |
|
Qualification : |
An alumnus of IIT Kanpur |
|
Experience : |
33 Years |
|
|
|
|
Name : |
Mr. Dilip Yeshwant Ghanekar |
|
Designation : |
Independent Director |
|
Qualification : |
Mr. Dilip Y. Ghanekar
finished his graduation in the year 1967 from VRCE, Nagpur. He retired as
technical director, MSEB. |
|
Experience : |
36 Years |
|
|
|
|
Name : |
Mr. Sajid Ali |
|
Designation : |
Independent Director |
|
Qualification : |
Mr. Sajid Ali is an engineering graduate engineer |
|
Experience : |
40 Years |
|
|
|
|
Name : |
Mr. Parag Ashok Sakalikar |
|
Designation : |
Independent Director |
|
Qualification : |
He completed his
diploma in mechanical engineering from the Bombay Technical Board in 1994 and
has a BE digree in mechanical engineering from Nagpur in 1998. |
|
|
|
|
Name : |
Mr. S.S. Waghmare |
|
Designation : |
Independent Director |
|
Experience : |
33 Years |
|
|
|
|
Name : |
Mr. Siddharth Ratilal Mehta |
|
Designation : |
Independent Director |
|
Qualification : |
A bachelor of electrical engineering from the Indian Institute of
Science, Bangalore |
|
Experience : |
32 Years |
|
|
|
|
Name : |
Mr. Anil Ramchandra Aurangabadkar |
|
Designation : |
Independent Director |
|
Qualification : |
Mr. Anil
Aurangabadkar is a mechanical engineer and has obtained his master’s degree
in material science. |
KEY EXECUTIVES
|
Name : |
Mr. Shrikant Chandrashekhar Rikhe |
|
Designation : |
Company
Secretary |
|
Address : |
97, East High Court Road, Ramdaspeth, Nagpur - 440010, Maharashtra,
India |
|
|
|
|
Name : |
Mr. Mahesh Darji |
|
Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholder |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
6530990 |
42.76 |
|
|
3008188 |
19.69 |
|
|
3008188 |
19.69 |
|
|
9539178 |
62.45 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
9539178 |
62.45 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
10871 |
0.07 |
|
|
91185 |
0.60 |
|
|
102056 |
0.67 |
|
|
|
|
|
|
1263323 |
8.27 |
|
|
|
|
|
|
2993755 |
19.60 |
|
|
1122977 |
7.35 |
|
|
253871 |
1.66 |
|
|
5053 |
0.03 |
|
|
111553 |
0.73 |
|
|
137155 |
0.90 |
|
|
110 |
0.00 |
|
|
5633926 |
36.88 |
|
Total Public shareholding (B) |
5735982 |
37.55 |
|
Total (A)+(B) |
15275160 |
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) |
15275160 |
100.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Sr. No. |
Name of the
Shareholders |
No. of Shares |
As a
% |
|
1 |
Ratnakar Manikrao Gutte |
22,02,500 |
14.42 |
|
2 |
Sodhamati Ratnakar
Gutte |
19,68,750 |
12.89 |
|
3 |
Sunil Ratnakar Gutte |
16,78,740 |
10.99 |
|
4 |
Vijay Ratnakar Gutte |
6,75,000 |
4.42 |
|
5 |
Swati Ratnakar Gutte |
6,000 |
0.04 |
|
6 |
Gutte Infra Private Limited |
15,00,000 |
9.82 |
|
7 |
VRG Digital Corporation Private Limited |
15,08,188 |
9.87 |
|
8 |
Venkataramana Condoor |
0.000 |
0.00 |
|
|
Total |
95,39,178 |
62.45 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sr. No. |
Name of the
Shareholder |
No. of Shares |
AS a
% |
|
1 |
Priyanka Finance
Private Limited |
156000 |
1.02 |
|
|
Total |
156000 |
1.02 |
BUSINESS DETAILS
|
Line of Business : |
The
Company is engaged in the business of Engineering, Procurement, Construction-(EPC),
Fabrication, Erection, Overhauling, Maintenance, Trading and other related
activities. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
·
National Thermal Power Corporation Limited ·
Chhattisgarh State Power Generation Company
Limited ·
Bharat Heavy Electricals Limited ·
Bharat Aluminium Company Limited · Reliance Energy Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
1472 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
UCO Bank ·
Union Bank of India ·
Oriental Bank of Commerce ·
Punjab National Bank ·
Bank of India ·
IDBI Bank ·
HSBC Bank ·
Axis Bank ·
Kotak Mahindra Bank ·
Syndicate Bank ·
Karur Vysya Bank ·
State Bank of Travancore ·
Canara Bank · Lakshmi Vilas Bank |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· SREI Equipment Finance Limited 'Vishwakarma', 86C, Topsia Road, Kolkata- 700046,
West Bengal, India · Hinduja Leyland Finance Limited 1 Sardar Patel Road, Guindy, Chennai- 600032, Tamilnadu,
INDIA |
|
|
|
|
Auditors : |
|
|
Name : |
M/s. V. Sankar Aiyar and Company Chartered Accountants |
|
Address : |
2-C, Court Chambers, 35, New Marine Lines, Mumbai-400020, Maharashtra,
India |
|
Tel. No.: |
91-22-22004465/ 2206 7440 |
|
Fax No.: |
91-22-22000649 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiaries : |
·
SEAM Industries Limited ·
Sunilhitech India Infra Private Limited
(Formerly Known as Ecological Road Construction Private Limited) ·
Sunilhitech Solar (Dhule) Private Limited ·
Sunil Hitech Energy Private Limited ·
SHEL Investments Consultancy Private
Limited · Patna Green Energy Private Limited |
|
|
|
|
Associates : |
·
Gangakhed Sugar and Energy Limited · V. K. Realtors (Partnership Firm) |
|
|
|
|
Joint Venture : |
·
PBSPL - SHEL - JV · SHEL ASSIGNIA - JV |
|
|
|
|
Enterprise over which persons covered under
Category IV above are able to exercise significant control : |
·
Gutte Infra Private Limited ·
VRG Digital Corporation Private Limited ·
RSV and Associates · Kolhapur Green Energy Private Limited |
CAPITAL STRUCTURE
AFTER 29.09.2014
Authorised Capital : Rs. 250.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 171.252 Million
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,50,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,52,75,160 |
Equity Shares |
Rs. 10/- each |
Rs. 152.752
Million |
|
|
|
|
|
3.1 Reconciliation of the shares outstanding
at the beginning and at the end of the year.
|
Particulars |
Nos. of Shares |
Amount in Rs |
|
Equity
shares at the beginning of the year |
13,625,160 |
136.252 |
|
Add:
Allotment during the year against warrants |
1,650,000 |
16.500 |
|
Equity
shares outstanding at the end of the year |
15,275,160 |
152.752 |
3.2 Terms/ Rights attached
to equity shares
The Company has only one class
of equity shares with voting rights having a par value of Rs. 10 per share. The
Company declares and pays dividends in Indian rupees. The final dividend
proposed by the Board of Directors is subject to approval of the shareholders
at the ensuing Annual General Meeting.
In the event of liquidation
of the Company, the holders of equity shares will be entitled to receive
remaining assets of the company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
3.3 The Company is not a
Subsidiary Company.
3.4 The details of shareholders holding more
than 5% of Equity Shares in the Company.
|
Particulars |
Nos. of Shares |
% of Holding |
|
Mr.
Ratnakar Manikrao Gutte |
2,202,500 |
14.42 |
|
Mrs.
Sudhamati Ratnakar Gutte |
1,968,750 |
12.89 |
|
Mr.
Sunil Ratnakar Gutte |
1,678,740 |
10.99 |
|
Bessemer
Venture Partners Trust |
-- |
-- |
|
Gutte
Infra Private Limited |
1,500,000 |
9.82 |
|
VRG
Digital Corporation Private Limited |
1,508,188 |
9.87 |
As
per of the Company, including its register of shareholders/ members and other
declarations received from shareholders regarding beneficial interest, the above
shareholding represents both legal and beneficial ownerships of shares.
3.5 Reserved Shares and
Terms of Warrants
The convertible warrant
holders have the option to convert their warrants into 20,50,000 (Previous
Year. 16,50,000) equity shares of Rs. 10/- each at the terms and conditions.
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 |
152.752 |
136.252 |
122.752 |
|
(b) Reserves & Surplus |
3426.519 |
2991.984 |
2676.334 |
|
(c) Money received against share warrants |
61.633 |
30.113 |
54.750 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3640.904 |
3158.349 |
2853.836 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
436.052 |
303.668 |
209.712 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1144.407 |
956.954 |
759.997 |
|
(d)
long-term provisions |
23.738 |
21.294 |
21.389 |
|
Total
Non-current Liabilities (3) |
1604.197 |
1281.916 |
991.098 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3362.855 |
3508.364 |
3596.333 |
|
(b)
Trade payables |
4144.747 |
4773.884 |
2525.461 |
|
(c)
Other current liabilities |
1205.060 |
1160.754 |
921.186 |
|
(d)
Short-term provisions |
47.792 |
22.612 |
21.746 |
|
Total
Current Liabilities (4) |
8760.454 |
9465.614 |
7064.726 |
|
|
|
|
|
|
TOTAL |
14005.555 |
13905.879 |
10909.660 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1282.439 |
1092.990 |
1087.989 |
|
(ii)
Intangible Assets |
22.154 |
33.001 |
41.728 |
|
(iii)
Capital work-in-progress |
117.455 |
73.340 |
53.945 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
499.699 |
356.844 |
322.694 |
|
(c) Deferred tax assets
(net) |
90.206 |
75.192 |
80.866 |
|
(d) Long-term Loan
and Advances |
335.628 |
284.272 |
203.316 |
|
(e)
Other Non-current assets |
440.998 |
428.469 |
389.745 |
|
Total
Non-Current Assets |
2788.579 |
2344.108 |
2180.283 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
2.500 |
0.000 |
|
(b)
Inventories |
1748.211 |
1395.093 |
951.142 |
|
(c)
Trade receivables |
3799.693 |
4734.253 |
3752.920 |
|
(d)
Cash and cash equivalents |
898.499 |
832.024 |
779.404 |
|
(e)
Short-term loans and advances |
1807.480 |
1518.549 |
845.557 |
|
(f)
Other current assets |
2963.093 |
3079.352 |
2400.354 |
|
Total
Current Assets |
11216.976 |
11561.771 |
8729.377 |
|
|
|
|
|
|
TOTAL |
14005.555 |
13905.879 |
10909.660 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Opertaion |
16489.754 |
14322.405 |
10960.155 |
|
|
|
Other Income |
162.731 |
99.364 |
89.849 |
|
|
|
TOTAL (A) |
16652.485 |
14421.769 |
11050.004 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Project Material Consumed and
Cost of Goods Sold |
9401.141 |
8618.862 |
6012.911 |
|
|
|
Contract and Site Expenses |
4657.955 |
3244.574 |
2643.088 |
|
|
|
Employees benefits expense |
639.403 |
659.225 |
643.173 |
|
|
|
Other expenses |
358.500 |
480.371 |
435.024 |
|
|
|
TOTAL (B) |
15056.999 |
13003.032 |
9734.196 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1595.486 |
1418.737 |
1315.808 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
778.567 |
769.756 |
583.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
816.919 |
648.981 |
732.574 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
258.585 |
243.777 |
295.909 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
558.334 |
405.204 |
436.665 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
189.369 |
155.388 |
157.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
368.965 |
249.816 |
279.321 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
25.524 |
0.000 |
377.612 |
|
|
TOTAL EARNINGS |
25.524 |
0.000 |
377.612 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw
Materials and Stock in Trade |
NA |
0.000 |
964.732 |
|
|
|
Capital Goods |
NA |
0.000 |
10.676 |
|
|
TOTAL IMPORTS |
NA |
0.000 |
975.408 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
25.08 |
20.28 |
22.76 |
|
|
|
Diluted |
24.82 |
20.28 |
22.76 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
169.580 |
88.869 |
264.921 |
|
|
|
|
|
|
Cash Generated from Operations |
1394.330 |
1450.502 |
446.888 |
|
|
|
|
|
|
Net
Cash Flow from (used in) Operating Activities |
1221.670 |
1289.005 |
304.106 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.24 |
1.74 |
2.55 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.68 |
9.91 |
12.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.20 |
3.02 |
4.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.13 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09 |
1.24 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.22 |
1.24 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
|
|
|
Market Value |
Rs. 285.05/- |
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 |
122.752 |
136.252 |
152.752 |
|
Reserves & Surplus |
2676.334 |
2991.984 |
3426.519 |
|
Money received against share
warrants |
54.750 |
30.113 |
61.633 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2853.836 |
3158.349 |
3640.904 |
|
|
|
|
|
|
Long-term borrowings |
209.712 |
303.668 |
436.052 |
|
Short term borrowings |
3596.333 |
3508.364 |
3362.855 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
264.921 |
88.869 |
169.580 |
|
Total
borrowings |
4070.966 |
3900.901 |
3968.487 |
|
Debt/Equity
ratio |
1.426 |
1.235 |
1.090 |
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 |
10960.155 |
14322.405 |
16489.754 |
|
|
|
30.677 |
15.133 |
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 |
10960.155 |
14322.405 |
16489.754 |
|
Profit |
279.321 |
249.816 |
368.965 |
|
|
2.55% |
1.74% |
2.24% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10584593 |
06/08/2015 |
32,500,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD,, KOLKATA- 700046, WEST BE |
C61056305 |
|
2 |
10586671 |
12/05/2015 |
1,396,500.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA- 390015, GUJARAT, INDIA |
C61632477 |
|
3 |
10569366 |
21/04/2015 |
31,875,000.00 |
HINDUJA LEYLAND FINANCE LIMITED |
1 SARDAR PATEL ROAD, GUINDY, CHENNAI- 600032, TAMIL NADU, INDIA |
C53604757 |
|
4 |
10566764 |
16/04/2015 |
205,000,000.00 |
LAKSHMI VILAS BANK LIMITED |
BHARAT HOUSE, 104, B.S. MARG,, FORT, MUMBAI- 400001, MAHARASHTRA, INDIA |
C52318722 |
|
5 |
10572658 |
30/03/2015 |
30,800,000.00 |
UCO BANK |
VILLAGE, POST, TAHSIL HINGNA, DISTRICT NAGPUR, NAGPUR- 441110, MAHARASHTRA, INDIA |
C55211221 |
|
6 |
10586833 |
30/03/2015 |
150,000,000.00 |
RELIANE CAPITAL LIMITED |
"H" BLOCK
1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI- 4007 |
C61631875 |
|
7 |
10568962 |
21/03/2015 |
8,692,500.00 |
HINDUJA LEYLAND FINANCE LIMITED |
1 SARDAR PATEL
ROAD, GUINDY, CHENNAI- 600032, TAMIL NADU |
C53425195 |
|
8 |
10569881 |
21/03/2015 |
14,297,500.00 |
HINDUJA LEYLAND FINANCE LIMITED |
1 SARDAR PATEL
ROAD, GUINDY, CHENNAI- 600032, TAMILNADU |
C53605804 |
|
9 |
10569508 |
27/02/2015 |
100,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI- 400005, MAHARASHTRA, INDIA |
C53239794 |
|
10 |
10548720 |
23/01/2015 |
3,800,150.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA- 390015, GUJARAT, INDIA |
C43372325 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Foreign
Currency Buyers Credit Arrangement from Banks |
0.000 |
244.328 |
|
|
|
|
|
Total |
0.000 |
244.328 |
GENERAL INFORMATION
Subject is a public company
domiciled in India and incorporated under the provisions of the Companies Act, 1956
(as amended by the Companies Act, 2013). Its shares are listed on two stock
exchanges in India. The Company is engaged in the business of Engineering,
Procurement, Construction-(EPC), Fabrication, Erection, Overhauling,
Maintenance, Trading and other related activities.
MANAGEMENT
DISCUSSION AND ANALYSIS
INDIAN
ECONOMY
The forecasts
of the World Bank and IMF expect the Indian GDP growth rate to be around 7.5%
in 2015-16 and 8% in 2017-18. The World Bank has concluded that the Indian
economy an accelerate GDP growth during the next five years on the back of
increasing investments. Besides, India imports close to 85% of its fossil fuel
energy requirements and has been a significant beneficiary of the decline in
oil prices from $110 per barrel to close to $65 per barrel, could lead to
higher capital investments in infrastructure.
INFRASTRUCTURE
IN INDIA
Growth in
infrastructure is essential to support economic growth and the needs of its
population. There exist chronic shortages in urban infrastructure ranging from
roads and highways, bridges and urban solid waste management systems, among
others. The incumbent government has taken on the task of accelerating
infrastructure development. It is estimated that the country needs close to $1
trillion in infrastructure spending to keep pace with economic growth.
INFRASTRUCTURE
IN ROADS AND HIGHWAYS
OVERVIEW
Road networks
are vital to economic development, trade and social integration. India has the
second largest road network in the world at 4.7 million kilometres. The network
handles more than 60% of goods transport in the country and over 85% of India’s
total passenger traffic. A sharp rise in passenger traffic and increasing
freight traffic is set to put further pressure on India’s existing network of roads
and highways. The National Highway Development Programme has a $60 billion
outlay for a seven phase programme to focus on the widening, upgradation and
rehabilitation of the 47,054 kilometres of National Highways.
OUTLOOK
It is expected that
the length of national highways will grow from 92,850 kilometres in 2013-14 to
100,000 kilometres by end 2017. India has completed over 100 public private
partnership projects and 165 ongoing projects as of March 2014. The value of
roads and bridges infrastructure in India is projected to grow at a compound
annual growth rate of 17.4% over FY12–17. The country’s roads and bridges
infrastructure, valued at US$ 6.9 billion in 2009, is expected to touch US$
19.2 billion by 2017.
INFRASTRUCTURE
IN SOLID WASTE MANAGEMENT
OVERVIEW
With an urban
population of 1.21 billion people, accounting for over 18% of the world’s human
population, India lacks proper municipal solid waste disposal systems. Current solid
wastes management services are inefficient, affecting public health, increasing
environmental pollution, degrading natural resources and accelerating climate
change.
The composition
of urban municipal solid waste in India is 51% organics, 17.5% recyclables
(paper, plastic, metal
and glass) and
31% inerts. The per capita waste generation rate in India increased from 0.44
kilograms per day in 2001 to 0.5 kilograms per day in 2011. This has been
fuelled by changing lifestyles and increased purchasing power of urban Indians.
Currently, there are over 53 cities in India with a population in excess of a
million people that generate 86,000 tonnes per day of solid waste at a per
capita waste generation rate of 0.5 kilograms per day. The total solid waste generated
in urban India is estimated at 68.8 million tonnes per year that translates
into 188.500 tonnes per day of solid waste, leading to a steep increase in
waste generation.
Large cities
collect about 70 - 90% of solid waste generated, whereas smaller cities and
towns collect less than 50% of waste generated. In excess of 91% of the solid
waste collected formally is landfilled across open lands and dumps.
It is estimated
that about 2% of the uncollected waste is burnt openly on the streets. About
10% of the collected solid waste is openly burnt or is caught in landfill
fires. Such open burning of solid waste and landfill fires together releases
22,000 tonnes of pollutants into the lower atmosphere of Mumbai every year.
OUTLOOK
There is a huge
scarcity of suitable landfill sites for solid waste management. The huge
increases in quantities of
solid waste
have put immense pressure on the budgetary resources of local civic
authorities. The Government has invested significantly in solid waste
management projects under the 12th Finance Commission and Jawaharlal
Nehru National
Urban Renewal Mission.
The waste
generation rate generally increases with increase in GDP during the initial
stages of economic development of a country, because increase in GDP increases
the purchasing power of a country, which, in turn, causes changes in
lifestyles. Even a slight increase in income in urban areas of developing
countries can cause a few changes in lifestyles, food habits, living standards
and changes in consumption patterns. Therefore, high income countries generate
more waste per person compared to low income countries.
It is
imperative to improve the standards of solid waste management in India as the
present imminent danger to public health, India’s environment and the general
quality of life. In recent years, there has been an increasing trend in
public-private partnerships in solid waste management. The larger cities in
India, such as Ahmedabad, Bengaluru, Chennai, Hyderabad, Surat, Guwahati,
Mumbai, Jaipur have gone ahead with public private partnerships for solid waste
management activities such as doorto- door collection of solid waste, street
sweeping, storage, transportation, treatment and disposal of waste.
OPERATIONAL REVIEW
The Company has
achieved a net turnover of Rs. 164,89.754 Million during the financial year
2014-15 as against Rs. 143,22.405 Million in the previous financial year,
thereby registered a growth of 15.13% over the last year’s turnover. The
operating profit of your company for the financial year ended 31st March 2015
is Rs. 15,95.487 Million, whereas it was Rs. 14,18.737 Million during the last
financial year, thereby registered a growth of 12.46% over the last year’s
operating profit.
Currently your
Company is operating in project related activity which includes Project
Execution, Overhauling and Maintenance Fabrication, Erection of Boilers (Power
Plants), Erection Testing, Commission of ESP, Transmission and Distribution and
EPC contract, Road, Bridges, Civil construction, Solar Energy projects, Waste
Management projects. To name a few, the following are some of the projects
running presently:
1. Construction
of Central Sudhar Ghar at Goindwal Sahib, Dist. Tarn Taran and Bhatinda in the
state of Punjab.
2. CW System
and Make up Water System Civil Works Package for NTPC Lara Super Thermal Power
Project, Stage-I 2x800 MW at Lara District. Raigarh, Chattisgarh.
3. CW System
and Make up Water System Civil Works Package for Meja Thermal Power Project, 2x660
MW at Meja, P.O. Kohdar, Tehsil-Neja Dist. Allahabad, Uttar Pradesh.
4. Complete
Material Handling, Erection, Testing and Commissioning of Boiler and their
Auxilliaries for 2X660 MW Bhavanapadu Thermal Power Project at East Coast
Energy Private Limited (ECEPL), Bhavanapadu, Near Kakarapalii Village of
Srikakulam Dist. Andhra Pradesh 62937 MT.
5. Supply of
finished product of bunkers and bunker structure and erection, testing and
commissioning of Unit#3 of 2X660 MW, NTPC Mouda STPP Stage-II, Dist Nagpur,
state Maharashtra.
6. Development of Regional (MSW) Municipal Solid Waste to Energy
(Electricity) and Scientific Landfill Facility in Patna on PPP.
7. Construction
of 490 Nos. M.C. Type of Quarters (35 blocks, each block of 14 units) Storied
Buildings (G+1 type) at 2x600 MW STPP and Construction of 1 No. GM Bungalow, 10
Nos. MA type of Quarters and 192 Nos. MB type of Quarters (16 blocks, each
block of 12 units) Storied Buildings (G+1 type) at 2 x 600 MW STPP Jaipur
Mandal, Adilabad Dist. Telangana State.
8. CW System
and Make up Water System Civil Worls Package for Darlipali Super Thermal Power
Project, Stage-I 2x800 MW at Darlipali, Dist. Sundargarh, Odisha.
9. Package-A
Civil, Structural and Architectural Works Etc of BTG Area for Unit#1 and 3 for
3x660MW NTPC North Karanpura STPP, Jharkhand
10. Design,
Engineering, Manufacture, Assembly, Testing at Works, Supply of the Equipments,
Mandatory Spares, Cement, Reinforecement Steel, Structural Steel for Civil
Works as well as Structural Works, Architectural Works, Transportation and
Delivery to Site of all the Equipments & Mandatory Spares including Special
Tools and Tackles, if any, for the Balance of Plant Package for Parli TPS
Project Unit- 8, 1X250 MW.
11. Civil,
Structural, Architectural etc. of Civil Superstructure Work of 2X600 MW, Pkg-B,
Unit#2 for Singareni Thermal Power Project, Dist Adilabad, Andhra Pradesh.
12. Erection,
Testing and Commissioning of Boiler Unit-2, 2X800 MW for NTPC, Lara Super
Thermal Power Project, at Lara Dist. Raigarh, Chattisgarh.
13. Erection,
Testing, Comm and Handling over of Boiler and its Auxiliaries etc at Vertical
Pkg U-3 at NTPC, Mouda STPP 2X660 MW.
14.
Establishment of 132/33 KV Sub Station at Kavathe-Yamai, Tal. Shirur, Dist.
Pune, state Maharashtra.
15. 11kV/22kV/33kV
Lines, New/Aug. Distribution Transformers of Various Capacities, and Other
Allied Works, Tunkey Contract for Works Under Infrastructure Plan Part-II Phase
- D-1 Project, including Guarantee Defects Liability Period in Morshi Division
under Amravati Circle of Amravati Zone.
16.
Rehabilitation and Upgrading to 2 lanes/2 lane with Paved Shoulders
Configuration and Strengthening of Madhugiri- Mulbagal Section (km 343.800 to
km 483.151) of NH-234 in the State of Karnataka (Package No. NHIIP-KA-234-10)
for Lot-I- km 343.800 to km 400.330 under Phase-I of National Highways
Inter-connectivity Improvement Projects (NHIIP).
17.
Engineering, Procurement and Construction of Rehabilitation and Upgrading to 2
lanes/2 lane with Paved Shoulders Configuration and Strengthening of
Bankura-Purulia Section (km 0.0 to km 84.0) of NH-60A in the State of West
Bengal under Phase-I of National Highways Inter-connectivity Improvement
Projects (NHIIP). In addition to the above, your company is executing various prestigious
projects related to Design, Supply, Test, Transport, Construction, Erection,
Testing and Commissioning of Distribution Lines, Power Sub Stations etc and
also Overhauling and Maintenance of various systems for Power Stations like
Koradi, Khaperkheda, Chandrapur, Bhusawal, Sarni, Korba, Parli, Talcher,
Wanakbori etc.
Furthermore the
company is engaged in the prestigious civil Construction projects like Supply,
Design, Engineering, Marketing and Civil Construction work of Residential
Complex at Plot No. 104, East High Court Road, Ramdaspeth Nagpur, Construction
of Class Room Complex including Internal Electrification for VNIT, Nagpur,
Supply, Design, Engineering, Marketing and Civil Construction of Residential
Complex of Green Project, Goa and Construction of houses for Kanpur Development
Authority, Kanpur.
The company is
further planning to grab opportunities in Renewable Energy Sector.
The Company has
not gone through any Operational discontinuation during the reporting period.
FUTURE PROSPECTS
INFRASTRUCTURE:
A key driver of
the economy, Infrastructure is highly responsible for propelling India’s
overall development. The industry enjoys intense focus from the top officials
of the Government for initiating policies that would ensure time bound creation
of world class infrastructure in the country. This sector includes power,
bridges, dams, roads and urban infrastructure development. The Indian power
sector has an investment potential of US$ 250 billion in the next 4-5 years,
providing immense opportunities in power generation, distribution, transmission
and equipment, according to Mr. Piyush Goyal, Union minister of Coal, Power and
Renewable Energy.
The Reserve
Bank of India (RBI) has notified 100 per cent foreign direct investment (FDI)
under automatic route in the construction development sector. The new limit is
effective 2 December 2014, RBI said in a notification on its website. Recently,
the Government has relaxed rules for FDI in the construction sector by reducing
minimum built-up area as well as capital requirement and liberalised the exit
norms. The Cabinet has also approved the proposal to amend the FDI policy.
India and the US have signed a memorandum of understanding (MoU) in order to
establish Infrastructure Collaboration Platform. The document showcases the
relationship between both the Governments which intend to facilitate US
industry participation in Indian infrastructure projects to improve the
bilateral commercial relationship and benefit both the Participants’ economies.
The MoU’s scope envisages efforts in the areas of Urban Development, Commerce
and Industry, Railways, Road Transport and Highways, Micro Small and Medium
Enterprises, Power, New and Renewable Energy, Information and Broadcasting,
Communications and Information Technology, Water Resources, River Development
and Ganga Rejuvenation.
POWER SECTOR:
Power or
electricity is one of the most critical components of infrastructure affecting
economic growth and well-being of nations. The existence and development of
adequate infrastructure is essential for sustained growth of the Indian
economy. The Indian power sector is one of the most diversified in the world.
Sources for power generation range from conventional ones such as coal,
lignite, natural gas, oil, hydro and nuclear power to other viable
non-conventional sources such as wind, solar, and agriculture and domestic
waste. The demand for electricity in the country has been growing at a rapid
rate and is expected to grow further in the years to come. In order to meet the
increasing requirement of electricity, massive addition to the installed
generating capacity in the country is required. The Indian power sector is
undergoing a significant change that is redefining the industry outlook.
Sustained economic growth continues to drive power demand in India. The
Government of India’s focus to attain ‘Power For All’ has accelerated capacity
addition in the country. At the same time, the competitive intensity is
increasing on both market side as well as supply side (fuel, logistics,
finances and manpower).
The Planning
Commission’s 12th Plan expects total domestic energy production to reach 669.6
million tonnes of oil equivalent (MTOE) by 2016–17 and 844 MTOE by 2021–22. By
2030 – 35, energy demand in India is projected to be the highest among all
countries according to the 2014 energy outlook report by British oil giant BP.
Around 293
global and domestic companies have committed to generate 266 gigawatts (GW) of
solar, wind, mini-hydel and bio-mass based power in India over the next 5-10
years. The initiative would entail an investment of about US$ 310-350 billion.
The industry has attracted FDI worth US$ 9,548.82 million during the period
April 2000 to February 2015. The Government of India has identified the power
sector as a key sector of focus to promote sustained industrial growth. The
RE-INVEST 2015 which concluded on February 17, 2015, is a significant step in
making India self-reliant in energy. The three day RE-INVEST 2015 received
2,800 delegates participating from 42 countries and saw green energy
commitments worth 266,000 MW.
ROAD SECTOR:
India has the
second largest road network in the world, aggregating 4.7 million km; however
quality of roads has not been at par with others. In terms of quality, only
half of India’s road network is surfaced.
Roads
constitute the most common mode of transportation and account for about 85 per
cent of passenger traffic and around 60 per cent of the freight traffic in the
country. In India, National Highways, with a length close to 79,000 km,
constitute a mere 2 per cent of the road network but carry about 40 per cent of
the total road traffic. On the other hand, state roads and major district roads
are the secondary system of road that carry another 60 per cent of traffic and
account for 98 per cent of road length. Over the last decade, the overall NHDP
length (completed) has increased from around 500 km in 2001-02 to the current
levels of 22,277km (as of March 31, 2014).
RENEWABLE ENERGY SCENARIO
Renewable energy is one of the cleanest sources of energy options with
almost no pollution or carbon emissions and has the potential to significantly
reduce reliance on coal and other fossil fuels. By expanding renewable energy,
world can improve air quality, reduce global warming emissions, create new
industries and jobs, and move world towards a cleaner, safer, and affordable
energy future.
The quest for
energy independence, economic growth, and environmental sustainability
increasingly suggests the importance of renewable energy sources across the
globe. Renewables are seen not only as sources of energy, but also as tools to
address many other pressing needs, including: improving energy security and
access; reducing the health and environmental impacts associated with fossil
and nuclear energy and mitigating greenhouse gas emissions.
The renewable
energy sector in India is full of opportunities and merits careful
consideration by market participants. The Indian renewable energy market is
highly attractive as it has the potential to reduce India’s rising demand
supply gap, hence becoming a key cog in the wheel for India’s energy security
strategy. The government in India has placed an encouraging policy and
regulatory framework with a combination of feed-in tariffs, renewable
procurement obligations, and Renewable Energy Certificates. The most dominant
asset classes, wind and solar, have attracted considerable supplier interest
and hence equipment and EPC is available at increasing competitive rates thus boosting
margins. The Jawahar Lal Nehru National Solar Mission (JNNSM) and several
state-level solar policies are helping develop solar energy market. Recent
budgetary allocation for generation based incentives and reintroduction for
accelerated depreciation for wind power will spur investments in wind energy.
The size of the renewable energy market will see further growth as the
application of Renewable Purchase Obligation expands to cover open access and
captive consumers.
UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER ENDED 30.06.2015
PART I
(Rs. In Million)
|
|
Particulars |
30.06.2015 (Unaudited) |
|
1. |
Income from operations |
|
|
|
a)
Net Sales/Income from Operations (Net of excise duty) |
4175.973 |
|
|
b)
Other Operating Income |
1.022 |
|
|
Total
Income from Operations (net) |
4176.995 |
|
|
|
|
|
2. |
Expenses |
|
|
|
a)
Cost of materials consumed |
1227.010 |
|
|
b)
Purchase of traded goods |
1081.377 |
|
|
c)
Changes in inventories of finished goods, work-in-progress and traded goods |
-- |
|
|
d)
Employee benefits expense |
143.547 |
|
|
e)
Depreciation and amortisation expense |
73.132 |
|
|
f)
Contract and site expenses |
1224.802 |
|
|
g)
Other expenses |
88.318 |
|
|
Total Expenses |
3838.186 |
|
|
|
|
|
3. |
Profit/(Loss) from
Operations before other income, finance costs and exceptional Items (1-2) |
338.809 |
|
4. |
Other
Income |
26.939 |
|
5. |
Profit/(Loss) from ordinary activities before finance
costs and exceptional Items (3+4) |
365.748 |
|
6. |
Finance
costs |
201.504 |
|
7. |
Profit/(Loss) from ordinary activities after finance
costs but before exceptional Items (5-6) |
164.244 |
|
8. |
Exceptional
Items |
-- |
|
9. |
Profit/(Loss) from ordinary activities before tax (7-8) |
164.244 |
|
10. |
Tax
expense |
54.107 |
|
11. |
Net
Profit/(Loss) from ordinary activities
after tax (9-10) |
110.137 |
|
12. |
Extraordinary
items |
-- |
|
13. |
Net
Profit/(Loss) for the period (11+12) |
110.137 |
|
14. |
Paid
- up Equity Share Capital (Face Value Rs. 10/- each) |
152.752 |
|
15. |
Reserves
excluding revaluation reserves as per balance sheet |
NA |
|
16. |
Earnings
Per Share (EPS) (not annualized) (in Rs) Basic and Diluted EPS before and
after extraordinary items |
7.21 7.13 |
|
PART
II |
|
|
|
A. |
PARTICULARS
OF SHAREHOLDING |
|
|
1. |
Public
Shareholding |
|
|
|
-
Number of Shares |
5735982 |
|
|
-
Percentage of Shareholding |
37.55% |
|
2. |
Promoter
and Promoter Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
-
Number of Shares |
Nil |
|
|
-Percentage of Shares (as
a % of the total shareholding of promoter and promoter group) |
Nil |
|
|
-Percentage
of Shares (as a % of the total share capital of the Company) |
Nil |
|
|
b)
Non-encumbered |
|
|
|
-
Number of Shares |
9539178 |
|
|
-Percentage
of Shares (as a % of the total shareholding of promoter and promoter group) |
100.00% |
|
|
-Percentage
of Shares (as a % of the total share capital of the Company) |
62.45% |
|
|
||
|
|
Particulars |
Quarter ended on June 30, 2015 |
|
B. |
INVESTOR
COMPLAINTS |
|
|
|
Pending
at the beginning of the quarter |
Nil |
|
|
Received
during the quarter |
1 |
|
|
Disposed
of during the quarter |
1 |
|
|
Remaining
unresolved at the end of the quarter |
Nil |
NOTES:
1. The above results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors at their meeting held on August 07, 2015.
2. The Statutory Auditors have carried out limited review of the above results.
3. Figures for the quarter ended March 31, 2015 are the balancing figures between the audited figures in respect of the full Financial Year ended March 31, 2015 and the unaudited published year to date figures, upto December 31, 2014.
4. Previous period's figures have been regrouped/ rearranged
wherever necessary.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
Service
Tax demand disputed, contested in appeal |
97.269 |
158.012 |
|
Sales
Tax demand disputed, contested in appeal |
3.984 |
3.984 |
|
Customs
Duty disputed |
11.549 |
11.549 |
|
Income
Tax disputed, contested in appeal |
29.117 |
0.000 |
|
Guarantee
given to Banks and Financial Institutions - |
5813.286 |
5009.719 |
|
Guarantee
given to Banks and Financial Institutions on behalf of - |
0.000 |
0.000 |
|
i)
A subsidiary company |
887.900 |
927.900 |
|
-
Loans/ LC/ BG outstanding at the year end |
716.251 |
750.741 |
|
ii)
An Associate Company |
240.188 |
250.000 |
|
-
Loans outstanding at the year end |
0.000 |
47.833 |
|
iii)
Others |
22.000 |
321.000 |
|
g)
Claims against the Company not acknowledged as debts |
11.176 |
10.137 |
|
Total |
7832.720 |
7490.875 |
FIXED ASSETS:
Tangible Assets
·
Freehold
Land
·
Leasehold
Land
·
Buildings
·
Plant
and Equipment
·
Furniture
and Fixtures
·
Vehicles
·
Office
Equipment
·
Computer
and Printer
PRESS RELEASES
SUNIL HITECH COMMISSIONS ITS FIRST SOLAR
POWER PROJECT
26 June, 2015
Sunil Hitech Engineers (SHEL) commissioned
its first solar power project at Solapur. "The commissioning marks the
foray into non conventional green energy projects. SHEL is committed to the
green initiatives in the power sector."
"This project leverages decades of civil and mechanical engineering
experience to demonstrate our EPC capabilities. This experience will be
extremely helpful to tap the huge EPC opportunity in the solar space opening up
recently in India. The Government vision is 100 GW of Solar power projects by
2022," the company said.
Shares of the company gained Rs 6.4, or 3.04%, to trade at Rs 217.00.
The total volume of shares traded was 19,918 at the BSE (12.08 p.m., Friday).
CBI SEARCH
NAGPUR-BASED SUNIL HITECH ENGINEERS LIMITED GROUP
Published On: Tue,
March 31st, 2015
It is a routine
search and investigative action related to coal scam, claim sources
Nagpur: The sleuths of Central Bureau of Investigation (CBI) from Delhi had swooped on Sunil Hitech Engineers Limited in connection with the coal block allocation, thou its not yet confirmed. The company had achieved a group turnover of Rs. 21772.200 million during the financial year 2013-14.
According to sources in CBI, the team from Delhi arrived at around 7:30 am and is said to be verifying documents. The serach is going on simultaneously in Nagpur and Yavatmal offices of the company. While one official said that it is a routine search operation, the other claimed that this high-level team had come to investigate their alleged links with coal allocations.
According to source, the search conducted was related to Adkoli Block, wherein state government-owned, Maharashtra State Mining Corporation Limited (MSMC) permitted its JV partner Sunil Hitech Engineers Limited (SHEL) to transfer its stake in Adkoli Block for a hefty consideration even before a single tonne of coal could be mined.
Sunil Hitech
Engineers Limited has grown from being a mere labour supplier and contractor to
a responsible organization to meet the ever demanding requirements of clients
like NTPC, BHEL, main utility clients like MSPGCL (formerly known as MSEB),
TNEB, MPPGCL, RRVUNL and other state boards and private players like Reliance
Energy, Jindal Power, JSW, RINL, HSCL.
It is significant to recall that a few days back the CBI had raided Nagpur-based Gupta Coals Limited and carried out search operation.
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. 65.11 |
|
|
1 |
Rs. 99.50 |
|
Euro |
1 |
Rs. 74.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.