MIRA INFORM REPORT
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Report No. : |
347378 |
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Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
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Name : |
CRAFTSMAN AUTOMATION PRIVATE LIMITED |
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Registered
Office : |
"Senthel Towers", IV Floor, 1078, Avanashi Road, Coimbatore – 641018, Tamilnadu |
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Tel. No.: |
91-422-2210994/
2212183/ 6615100/ 3021000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.07.1986 |
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Com. Reg. No.: |
18-001816 |
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Capital
Investment / Paid-up Capital : |
Rs. 57.490 Million |
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CIN No.: [Company Identification
No.] |
U28991TZ1986PTC001816 |
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IEC No.: |
3290000125 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
CMBC03708F |
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PAN No.: [Permanent Account No.] |
AABCC2461K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of precision components, design, development and production of engineering products |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (53) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10783000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1986 having
good track record. Subject is an engineering firm engaged in manufacturing of precision
components, design, development and production of engineering products. Available financial indicates sound financial risk profile marked by
healthy networth position with fair liquidity and good profit margin of the
company. The rating also takes into consideration company’s established
position in the engineering contract manufacturing segment, supported by
strong operating efficiency and long track record of business operations. Further, the rating also takes into consideration rich experience of
its promoters and favorable gap between trade payables and trade receivables. Moreover, this rating strength is partially offset by large capital
requirement to fund regular capacity expansion and company’s exposure to
risks related to cyclical demand in its end-user industries. Trade relations are reported as fair. Business is active. Payments
terms are reported and regular as per commitment. In view of long track record and sound financial base, the company can
be considered normal for 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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term rating : BBB |
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Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
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Date |
31.03.2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating : A3+ |
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Rating Explanation |
Moderate degree of safety and carry higher credit risk. |
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Date |
31.03.2015 |
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 PARTED BY
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Name : |
Mr. Ramkrishnan |
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Designation : |
Account Manager |
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Contact No.: |
91-422-3021000 |
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Date : |
29.10.2015 |
LOCATIONS
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Registered Office / Corporate Office : |
"Senthel Towers", IV Floor, 1078, Avanashi Road, Coimbatore – 641018, Tamilnadu, India |
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Tel. No.: |
91-422-2210994/
2212183/ 6615100/ 3021000 |
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Fax No.: |
91-422-2211976/
2210976/ 6615156 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Industrial |
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Factory 1 : |
E-43, SIDCO
Industrial Estate, Kurichi, Coimbatore – 641 021, Tamilnadu, India |
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Tel. No.: |
91-422-3023900 |
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Fax No.: |
91-422-3023911 |
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Factory 2 : |
1251-B, Avanashi Road, Peelamedu, Coimbatore-641045, Tamilnadu, India |
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Factory 3 : |
123/4,
Sangothipalayam Road, Arasur Post, Coimbatore – 641 407, Tamilnadu, India |
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Tel. No.: |
91-422-3051000 |
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Fax No.: |
91-422-3051111 |
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Factory 4 : |
No.8, D&E
Industrial Area, Sector-1, Pithampur, Dhar District – 454 775, Madhya Pradesh, India |
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Tel. No.: |
91-729-2393300 |
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Fax No.: |
91-729-2393333 |
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Factory 5 : |
24-A/1-C, SIDCO
Industrial Estate, North Phase, 1st Cross Street, Ambattur,
Coimbatore – 600 098, Tamilnadu, India |
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Tel. No.: |
91-442-6250382 |
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Fax No.: |
91-442-6250382 |
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Factory 6 : |
Plot No.M-3 (P), Large
Sector, Adityapur Industrial Area, Sriramput Gamharia, Saratkela, Jamshedpur
– 832 108, Jharkhand, India |
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Tel. No.: |
91-657-3987000 |
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Fax No.: |
91-657-3987033 |
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Factory 7 : |
Plot No.L-3, Phase-II,
SIPCOT Industrial Park, Sriperubudur, Kancheepuram District – 602 105,
Tamilnadu, India |
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Tel. No.: |
91-442-6250382 |
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Fax No.: |
91-442-6250382 |
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Factory 8 : |
Gat No.1224/02, Survey
No.112/2, Sanaswadi Village, Shirur Taluk, Pune – 412 203, Maharashtra, India
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Factory 9 : |
Gat No.137, Hissa
No.2, Sanaswadi Village, Shirur Taluk, Pune – 412 208, Maharashtra, India |
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Factory 10 : |
Gat No.941 and 942,
Hissa No.1, Sanaswadi Village, Shirur Taluk, Pune – 412 208, Maharashtra,
India |
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Factory 11 : |
Plot No.214,
Sector-53, Ballabhgarh, District Faridabad – 121 004, Haryana, India |
DIRECTORS
As on 31.12.2014
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Name : |
Mr. Srinivasan Ravi |
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Designation : |
Managing Director |
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Address : |
Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore –
641 018, Tamilnadu, India |
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Date of Birth/Age : |
18.03.1963 |
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Date of Appointment : |
13.11.2013 |
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DIN No.: |
01257716 |
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PAN No.: |
AEYPR9359H |
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Other Directorship :
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Name : |
Dr. Govindasamy Naidu Srinivasan |
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Designation : |
Director |
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Address : |
Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore –
641 018, Tamilnadu, India |
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Date of Birth/Age : |
19.01.1928 |
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Date of Appointment : |
01.11.1996 |
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DIN No.: |
02369228 |
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Other Directorship :
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Name : |
Mr. Chandrashekar Bhide |
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Designation : |
Director |
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Address : |
104, Ajay Thkataria Marg, Mahim, Mumbai – 400 016, Maharashtra, India |
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Date of Birth/Age : |
12.07.1948 |
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Date of Appointment : |
11.09.2013 |
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DIN No.: |
00027967 |
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Other Directorship :
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Name : |
Mr. Ravi Gauthamram |
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Designation : |
Director |
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Address : |
Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore, 641018, Tamilnadu, India |
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Date of Birth/Age : |
13.04.1988 |
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Date of Appointment : |
20.02.2014 |
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DIN No.: |
06789004 |
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Name : |
Mr. Kallakurichi Kanniah Balu |
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Designation : |
Director |
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Address : |
17/11, Syndicate Enclave, Sengani Amman Koil St, Maduvankarai, Chennai
– 600 032, Tamilnadu, India |
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Date of Birth/Age : |
15.09.1944 |
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Date of Appointment : |
11.09.2013 |
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DIN No.: |
03640304 |
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Other Directorship :
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Name : |
Mr. Namit Arora |
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Designation : |
Nominee Director |
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Address : |
Flat No.202, 2nd Floor, Monika Co-operative Housing
Society, Fazal Soboni St, Colaba Wood HSE Road, Mumbai – 400 005,
Maharashtra, India |
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Date of Birth/Age : |
19.11.1971 |
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Date of Appointment : |
21.08.2012 |
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DIN No.: |
02577648 |
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KEY EXECUTIVES
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Name : |
Mr. Sundaram
Rajamanickam |
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Designation : |
Secretary |
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Address : |
3/25, Kondasamy
Naidu Street, Velandipalayam, Coimbatore – 641 025, Tamilnadu, India |
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Date of Birth/Age : |
25.03.1967 |
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Date of Appointment : |
05.03.2008 |
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PAN No.: |
AEYPR5618D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
S. Ravi |
303750 |
52.83 |
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S. Murali |
60750 |
10.57 |
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K. Gomatheswaran |
40500 |
7.04 |
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International
Finance Corporation, United States of America |
80803 |
14.06 |
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Standard
Chartered Private Equity (Mauritius) II Limited, Mauritius |
89100 |
15.50 |
|
Total |
574903 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 31.12.2014
|
Category |
Percentage of
holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
29.56 |
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Directors or relatives of Directors |
63.40 |
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Other top fifty shareholders |
7.04 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in manufacturing of precision components, design, development and production of engineering products |
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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 : |
Netherlands |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Spain |
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Terms : |
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Selling : |
Cash / Credit (30/60/90 Days) |
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Purchasing : |
Cash / Credit (30/60/90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
· IDBI Bank Limited, Excellence, 4th Floor, No.104, Race Course Road,, Coimbatore - 641018, Tamilnadu, India · Export-Import Bank of India, Floor 21,Centre One Building, World Trade Centre, Cuffe Parade, Mumbai - 400005, Maharashtra, India · ICICI Bank Limited, 1090, Cheran Plaza, Trichy Road, Coimbatore - 641018, Tamilnadu, India · State Bank of India, Mid Corporate Group [MCG], Commercial Branch, 14 43, Trichy Road, Coimbatore- 641018, Tamilnadu, India · Standard Chartered Bank, No.19, Rajaji Salai,, Chennai-600001, Tamilnadu , India · Indian Bank, P N Palayam Branch, 1134,Sabtharang Building, AV Inashi Road, P N Palayam, Coimbatore- 641037, Tamilnadu , India |
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Facilities : |
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Auditors : |
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Name : |
PKF Sridhar and Santhanam Chartered Accountants |
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Address : |
No 3 8 – 1, Raghupathy Layout, Coimbatore-641011, Tamilnadu, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ANZPS9856A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Joint venture : |
· MC Craftsman Machinery Private Limited CIN No.: U29200TZ2007PTC014014 · Carl Stahl Craftsman Enterprises Private Limited CIN No.: U51900TZ2007PTC013823 |
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Subsidiaries Companies : |
· Craftsman Automation Singapore Pte Limited, Singapore · Craftsman Marine B.V. Netherlands |
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Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Mastercraft Engineers Private Limited CIN No.: U29199TZ1991PTC003548 |
CAPITAL STRUCTURE
As on 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs. 100.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
574903 |
Equity Shares |
Rs.100/- each |
Rs. 57.490
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
57.490 |
57.490 |
47.126 |
|
(b) Reserves & Surplus |
3716.543 |
3295.943 |
1896.106 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3774.033 |
3353.433 |
1943.232 |
|
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|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2838.822 |
2680.777 |
2979.548 |
|
(b) Deferred tax liabilities (Net) |
656.645 |
605.161 |
498.170 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
6.111 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3495.467 |
3285.938 |
3483.829 |
|
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(4)
Current Liabilities |
|
|
|
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(a) Short
term borrowings |
1936.325 |
1827.958 |
1457.095 |
|
(b) Trade
payables |
1053.892 |
635.195 |
1166.069 |
|
(c) Other
current liabilities |
1562.891 |
1105.700 |
1285.762 |
|
(d) Short-term
provisions |
45.838 |
49.299 |
79.466 |
|
Total Current Liabilities
(4) |
4598.946 |
3618.152 |
3988.392 |
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TOTAL |
11868.446 |
10257.523 |
9415.453 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
|
|
|
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(i)
Tangible assets |
7192.825 |
6201.352 |
5212.908 |
|
(ii)
Intangible Assets |
44.397 |
8.014 |
3.160 |
|
(iii)
Capital work-in-progress |
126.595 |
115.554 |
544.044 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
12.283 |
|
(b) Non-current Investments |
35.983 |
35.983 |
35.983 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1232.232 |
822.056 |
669.793 |
|
(e) Other
Non-current assets |
0.000 |
1.463 |
7.393 |
|
Total Non-Current
Assets |
8632.032 |
7184.422 |
6485.564 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1221.770 |
1440.196 |
1298.814 |
|
(c) Trade
receivables |
1395.080 |
1044.076 |
1020.962 |
|
(d) Cash
and cash equivalents |
57.106 |
89.117 |
170.967 |
|
(e)
Short-term loans and advances |
562.458 |
499.712 |
439.146 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3236.414 |
3073.101 |
2929.889 |
|
|
|
|
|
|
TOTAL |
11868.446 |
10257.523 |
9415.453 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue |
5875.600 |
5713.200 |
6001.000 |
|
|
|
Other Income |
86.200 |
24.300 |
9.900 |
|
|
|
TOTAL |
5961.800 |
5737.500 |
6010.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4337.500 |
4140.400 |
4415.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1624.300 |
1597.100 |
1595.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES AND DEPRECIATION/ AMORTISATION |
1111.900 |
1006.300 |
884.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
512.400 |
590.800 |
710.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
87.300 |
168.600 |
215.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
425.100 |
422.200 |
495.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1029.500 |
655.800 |
215.700 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
42.500 |
42.200 |
49.500 |
|
|
|
Provision for Dividend Distribution Tax |
1.000 |
0.900 |
0.800 |
|
|
|
Proposed Dividend 10% |
5.700 |
5.400 |
4.700 |
|
|
BALANCE CARRIED
TO THE B/S |
1405.400 |
1029.500 |
655.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
739.42 |
734.38 |
1050.58 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
6000.000 |
The above information has been parted by Mr. Ramkrishnan (Account
Manager)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
813.638 |
594.359 |
490.347 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
1892.430 |
483.789 |
1861.201 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.24 |
7.39 |
8.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
27.64 |
27.95 |
26.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.38 |
5.85 |
8.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.18 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.48 |
1.52 |
2.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.70 |
0.85 |
0.73 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
47.126 |
57.490 |
57.490 |
|
Reserves & Surplus |
1896.106 |
3295.943 |
3716.543 |
|
Net
worth |
1943.232 |
3353.433 |
3774.033 |
|
|
|
|
|
|
long-term borrowings |
2979.548 |
2680.777 |
2838.822 |
|
Short term borrowings |
1457.095 |
1827.958 |
1936.325 |
|
Current maturities of long-term
debts |
490.347 |
594.359 |
813.638 |
|
Total
borrowings |
4926.990 |
5103.094 |
5588.785 |
|
Debt/Equity
ratio |
2.535 |
1.522 |
1.481 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Operating revenue |
6001.000 |
5713.200 |
5875.600 |
|
|
|
(4.796) |
2.843 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Operating revenue |
6001.000 |
5713.200 |
5875.600 |
|
Profit |
495.100 |
422.200 |
425.100 |
|
|
8.25% |
7.39% |
7.24% |
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 |
Yes |
|
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 four 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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
The registered office of the company has been shifted from 15, LML Colony, P.N. Palayam, Coimbatore – 641 037, Tamilnadu, India to the present address w.e.f. 01.07.2014
MANAGEMENT DISCUSSION
AND ANALYSIS
OVERVIEW
The Company is engaged in the manufacture of precision engineered machined components, sub-assemblies and assemblies catering to automotive sector and various other industrial applications such as general engineering, printing machinery, flow management valves and controls and storage systems.
Economy
India’s gross domestic product and Index of Industrial production registered a growth of 4.7% (5.0% in the previous year) and 2.7% (2.8% in the previous year) respectively during the financial year 2013-14, indicating a slower growth of the Indian economy than in the previous year. This is a clear indication that the Indian economy has performed less than its potential. The growth rate has been the slowest in the last ten years.
FINANCIAL
PERFORMANCE:
The operating revenue for the year 2013-14 was at Rs. 5875.600 Million, an increase of 2.84% over the 2012-13 operating revenue of Rs. 5713.000 Million.
The marginal growth has been achieved during the year despite continued weakness in the economic scenario in India during the financial year 2013-14. In addition, the Company undertook certain cost reduction initiatives, which resulted in an increase of 1.70% in EBITDA over last year’s level.
However, due to increased depreciation (increase by Rs. 87.600 Million), term loan interest (increase by Rs. 18.100 Million) on the back of the on-going capacity expansion and the increase in materials consumption, the PBT has dropped by 13.27% to 512.400 Million vs. 590.800 Million last year. While the PAT was marginally higher than in the previous fiscal, the earnings per share was lower at Rs. 740 as against Rs. 783 in 2012-13, due to dilutive impact of fresh equity raise in August 2012 being applicable for only part of the year in 2012-13.
The cash profit was at Rs. 1057.100 Million as against Rs 1021.900 Million in 2012-13.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
367.343 |
352.282 |
|
Total |
367.343 |
352.282 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10587829 |
24/08/2015 |
330,000,000.00 |
EXPORT- IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING,, WORLD TRADE CENTRE COMPLEX,CUFFE
PARADE,, MUMBAI, Maharashtra - 400005, INDIA |
C62505037 |
|
2 |
10549834 |
31/01/2015 |
315,000,000.00 |
EXPORT- IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING,, WORLD TRADE CENTRE COMPLEX,CUFFE
PARADE,, MUMBAI, Maharashtra - 400005, INDIA |
C43931708 |
|
3 |
10550382 |
11/05/2015 * |
2,222,500,000.00 |
STATE BANK OF INDIA |
MID- CORPORATE GROUP, COMMERCIAL BRANCH, 1443, TRICHY ROAD,,
COIMBATORE, Tamilnadu - 641018, INDIA |
C55315287 |
|
4 |
10522506 |
22/04/2015 * |
305,500,000.00 |
STANDARD CHARTERED BANK |
NO.19,, RAJAJI SALAI, CHENNAI, Tamilnadu - 600001, INDIA |
C52678398 |
|
5 |
10518703 |
11/05/2015 * |
250,000,000.00 |
INDIAN BANK |
P N PALAYAM BRANCH,1134,SABTHARANG BUILDING,, AVINASHI ROAD, P
NPALAYAM,, COIMBATORE, Tamilnadu |
C55448823 |
|
6 |
10482047 |
20/12/2014 * |
125,000,000.00 |
EXPORT - IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTRE, CUFFEE PARADE,,
MUMBAI, Maharashtra - 400005, INDIA |
C49230493 |
|
7 |
10435630 |
20/12/2014 * |
270,000,000.00 |
STANDARD CHARTERED BANK |
509, D. B. ROAD,, R.S. PURAM,, COIMBATORE, Tamilnadu - 641002, INDIA |
C48869820 |
|
8 |
10324945 |
20/12/2014 * |
245,200,000.00 |
STANDARD CHARTERED BANK |
509, D. B. ROAD,, R.S. PURAM,, COIMBATORE, Tamilnadu - 641002,
INDIA |
C48340004 |
|
9 |
10310560 |
20/12/2014 * |
400,000,000.00 |
EXPORT- IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTRE, CUFFEE PARADE,
MUMBAI, Maharashtra - 400005, INDIA |
C48686794 |
|
10 |
10309475 |
28/07/2014 * |
600,000,000.00 |
ICICI BANK LIMITED |
1090, CHERAN PLAZA,, TRICHY ROAD, COIMBATORE, Tamilnadu - 641018,
INDIA |
C47921879 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Leasehold Improvements
· Office Equipments
· Computers
· Vehicles
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.66.09 |
|
|
1 |
Rs.100.88 |
|
Euro |
1 |
Rs.73.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.