MIRA INFORM REPORT
|
Report No. : |
339751 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KALINDEE RAIL NIRMAN ENGINEERS LIMITED |
|
|
|
|
Registered
Office : |
F-5 Gautam Nagar, Gulmohar Park Road, Block C, New Delhi- 110049, Delhi |
|
Tel. No.: |
91-11-26857375 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
15.02.1984 |
|
|
|
|
Com. Reg. No.: |
55-114336 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 165.076 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L64120DL1984PLC114336 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged into railways infrastructure. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a well-established company incorporated during the year 1984
having satisfactory track. The company possesses an acceptable financial profile marked by
adequate net worth base and favorable gap between trade payables and
receivables along with working capital intensive nature of the operations
resulting into leveraged capital structure. Management has reported loss during the year 2015. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of resourcefulness and the experience of the promoters, the
subject can be considered 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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank facilities BB+ |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk. |
|
Date |
April 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
April 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
|
Name : |
Mr. Mukesh H |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-11-26857375 |
|
Date : |
05.09.2015 |
LOCATIONS
|
Registered Office : |
F-5 Gautam Nagar, Gulmohar Park Road, New Delhi- 110049, Delhi, India |
|
Tel. No.: |
91-11-26857375/11-2685 1279 |
|
Fax No.: |
91-11-26851279 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office : |
2nd Floor, Building No. 9A, Cyber City, DLF Phase -III,
Gurgaon - 122 002, Haryana, India |
|
Tel. No.: |
91-124-4674800 |
|
Fax No.: |
91-124-4674887/888 |
|
|
|
|
Branch : |
Located at : ·
Jaipur ·
Navi Mumbai ·
Bhubaneshwar ·
Kolkata |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Sandeep Fuller |
|
Designation : |
Managing Director |
|
DIN No.: |
06754262 |
|
|
|
|
Name : |
Mr. Hemant Kumar |
|
Designation : |
Director |
|
DIN No.: |
03599801 |
|
|
|
|
Name : |
Mr. Suresh Kumar Khanna |
|
Designation : |
Director |
|
DIN No.: |
00233505 |
|
|
|
|
Name : |
Mr. Shanti Narain |
|
Designation : |
Director |
|
DIN No.: |
00233438 |
|
|
|
|
Name : |
Mr. Kamal Kishore Agarwal |
|
Designation : |
Director |
|
DIN No.: |
02655349 |
|
|
|
|
Name : |
Mr. Mahendra Kumar Khanna |
|
Designation : |
Director |
|
DIN No.: |
03509134 |
|
|
|
|
Name : |
Mrs. Akella Rajalakshmi Venkateshwar |
|
Designation : |
Director |
|
DIN No.: |
07145571 |
|
|
|
|
Name : |
Mr. Varun Bharthuar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dulal Chandra Mitra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vikram Singhal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pervesh Kumar Gandhi |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh H |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mr. Anil Sharma |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2015
|
Category of
Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
6865898 |
41.59 |
|
|
6865898 |
41.59 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6865898 |
41.59 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
2916 |
0.02 |
|
|
819795 |
4.97 |
|
|
277884 |
1.68 |
|
|
331305 |
2.01 |
|
|
1431900 |
8.67 |
|
|
|
|
|
|
1651422 |
10.00 |
|
|
|
|
|
|
4844871 |
29.35 |
|
|
1534576 |
9.30 |
|
|
178930 |
1.08 |
|
|
176390 |
1.07 |
|
|
2540 |
0.02 |
|
|
8209799 |
49.73 |
|
Total Public shareholding (B) |
9641699 |
58.41 |
|
Total (A)+(B) |
16507597 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
16507597 |
0.00 |
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%20LIMITED%20-%20339751%2012-Sep-2015_files/image018.gif){kind=small}
%20LIMITED%20-%20339751%2012-Sep-2015_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into railways infrastructure. |
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|
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash / Advance Payment / Cheque |
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Purchasing : |
Cash / Advance Payment / Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Bankers : |
· State Bank of Patiala Commercial Branch, Chandralok Building, 36, Janpath, New Delhi - 110 001, Delhi, India ·
Axis
Bank Limited 148, Statesman House, Barakhamba Road, New Delhi - 110 001, Delhi, India ·
ICICI
Bank Limited 9A,Pheilp Building, Connaught Place, New Delhi - 110 001, Delhi, India ·
HDFC
Bank Limited 26, Kailash Building, K. G. Marg, New Delhi - 110 001, Delhi, India ·
IndusInd
Bank Limited Dr. Gopal Das Bhawan, 28, Barakhamba Road , New Delhi - 110 001, Delhi, India ·
IDBI
Bank Limited 3rd Floor, Indian Red Cross
Society Building Red Cross Road, New Delhi- 110 001, Delhi, India |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory
Auditors : |
|
|
Name : |
S.S. Kothari Mehta and Company Chartered Accountants |
|
Address : |
146-148, Tribhuvan Complex, Ishwar Nagar, Mathura Road, New Delhi-
110065, Delhi, India |
|
|
|
|
Internal
Auditors |
|
|
Name : |
Prakash Sachin and Company Chartered Accountants |
|
Address : |
C-35, Madhu Vihar, Patparganj, Delhi 110091, Delhi, India |
|
|
|
|
|
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
· Texmaco Rail And Engineering Limited |
|
|
|
|
Joint Venture : |
· Kalindee Kapoor Railcon JV · Kalindee Cobra JV · Kalindee VNC JV · Kalindee URC JV · GMR TPL KRNL JV · Kalindee Karthik JV · Kalindee IF & LS JV |
|
|
|
|
Enterprises under common control : |
· Lionel India Limited · Adventz Investments & Holdings Ltd · Adventz Securities Enterprises Limited · Adventz Finance Private Limited |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 650.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,507,597 |
Equity Shares |
Rs.10/- each |
Rs. 165.076
Million |
|
|
|
|
|
Reconciliation of
number of equity shares and share capital
|
Particular |
As on 31.03.2015 |
|
|
|
No. of Shares |
Amount |
|
at the beginning of the year |
16507597 |
165.076 |
|
Add : Issued during the year |
-- |
-- |
|
Outstanding at the end of the
year |
16507597 |
165.076 |
Terms/Rights attached
to equity shares:
The
company has only one class of share capital, i.e. equity shares having face value
of Rs 10/- per share. Each holder of equity share is entitled to one vote per
share.
Shareholders holding
more than 5% equity shares as at the end of the year:
|
Particular |
As on 31.03.2015 |
|
|
|
No. of shares held |
% of Holding |
|
Texmaco Rail & Engineering
Limited |
6865898 |
41.59% |
|
Ram Dayal Sharma |
-- |
0.00% |
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 |
165.076 |
165.076 |
123.972 |
|
(b) Reserves & Surplus |
1459.719 |
1557.318 |
1401.768 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1624.795 |
1722.394 |
1525.740 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.097 |
4.975 |
8.513 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
21.450 |
|
(c) Other long term
liabilities |
179.014 |
237.083 |
0.000 |
|
(d) long-term
provisions |
2.065 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
181.176 |
242.058 |
29.963 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1800.062 |
1008.349 |
1074.964 |
|
(b) Trade
payables |
672.313 |
396.145 |
170.494 |
|
(c) Other
current liabilities |
307.311 |
159.444 |
275.758 |
|
(d) Short-term
provisions |
7.610 |
4.577 |
54.300 |
|
Total Current
Liabilities (4) |
2787.296 |
1568.515 |
1575.516 |
|
|
|
|
|
|
TOTAL |
4593.267 |
3532.967 |
3131.219 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
143.675 |
163.284 |
179.980 |
|
(ii)
Intangible Assets |
7.926 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
66.564 |
19.496 |
0.000 |
|
(d) Long-term Loan and Advances |
173.375 |
142.133 |
0.000 |
|
(e) Other
Non-current assets |
562.006 |
556.666 |
0.000 |
|
Total Non-Current
Assets |
953.546 |
881.579 |
179.980 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
283.278 |
455.019 |
844.131 |
|
(c) Trade
receivables |
2446.633 |
1600.890 |
968.537 |
|
(d) Cash
and cash equivalents |
363.401 |
473.119 |
395.586 |
|
(e)
Short-term loans and advances |
238.165 |
85.468 |
742.985 |
|
(f) Other
current assets |
308.244 |
36.892 |
0.000 |
|
Total
Current Assets |
3639.721 |
2651.388 |
2951.239 |
|
|
|
|
|
|
TOTAL |
4593.267 |
3532.967 |
3131.219 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3085.204 |
2539.853 |
2572.221 |
|
|
|
Other Income |
113.961 |
61.875 |
34.585 |
|
|
|
TOTAL (A) |
3199.165 |
2601.728 |
2606.806 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2451.977 |
1934.242 |
2283.493 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
171.741 |
389.112 |
(229.573) |
|
|
|
Employees benefits expense |
180.601 |
123.022 |
116.579 |
|
|
|
Other expenses |
119.339 |
72.299 |
159.793 |
|
|
|
Exceptional Items |
162.104 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
3085.762 |
2518.675 |
2330.292 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
113.403 |
83.053 |
276.514 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
237.183 |
179.981 |
138.731 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
(123.780) |
(96.928) |
137.783 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
18.030 |
15.073 |
15.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
(141.810) |
(112.001) |
122.183 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(44.503) |
(40.945) |
41.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(97.307) |
(71.056) |
80.944 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
663.518 |
734.574 |
622.704 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.000 |
|
|
|
Amount forfeited |
0.000 |
0.000 |
(31.926) |
|
|
BALANCE CARRIED
TO THE B/S |
566.211 |
663.518 |
734.574 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
56.483 |
157.161 |
348.825 |
|
|
TOTAL EARNINGS |
56.483 |
157.161 |
348.825 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
35.459 |
135.077 |
NA |
|
|
TOTAL IMPORTS |
35.459 |
135.077 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.89) |
(4.77) |
6.53 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
13.408 |
6.839 |
3.450 |
|
Cash (used)/from in operations |
(669.343) |
68.097 |
7.759 |
|
Net cash used in operation |
(671.908) |
(36.987) |
(33.301) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.15) |
(2.80) |
3.15 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.68 |
3.27 |
10.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.13) |
(3.19) |
3.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09) |
(0.07) |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.12 |
0.59 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.69 |
1.87 |
STOCK
PRICES
|
Face Value |
Rs.10.00 |
|
Market Value |
Rs.105.70 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
123.972 |
165.076 |
165.076 |
|
Reserves & Surplus |
1401.768 |
1557.318 |
1459.719 |
|
Net
worth |
1525.740 |
1722.394 |
1624.795 |
|
|
|
|
|
|
long-term borrowings |
8.513 |
4.975 |
0.097 |
|
Short term borrowings |
1074.964 |
1008.349 |
1800.062 |
|
Current Maturities Of
Long-Term Debts |
3.450 |
6.839 |
13.408 |
|
Total
borrowings |
1086.927 |
1020.163 |
1813.567 |
|
Debt/Equity
ratio |
0.712 |
0.592 |
1.116 |
%20LIMITED%20-%20339751%2012-Sep-2015_files/image022.gif)
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 |
2572.221 |
2539.853 |
3085.204 |
|
|
|
(1.258) |
21.472 |
%20LIMITED%20-%20339751%2012-Sep-2015_files/image024.gif)
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 |
2572.221 |
2539.853 |
3085.204 |
|
Profit |
80.944 |
(71.056) |
(97.307) |
|
|
3.15% |
(2.80%) |
(3.15%) |
%20LIMITED%20-%20339751%2012-Sep-2015_files/image026.gif)
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 |
No |
|
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 |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loan from Related Parties |
150.000 |
100.000 |
|
Loan from Director |
400.000 |
0.000 |
|
Total |
550.000 |
100.000 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10465557 |
12/12/2013 |
720,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B91703462 |
|
2 |
10396278 |
07/12/2012 |
250,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING,, 28, BARAKHAMBA ROAD, NEW |
B65639106 |
|
3 |
10388446 |
29/09/2014 * |
5,550,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA,, MUM |
C35338839 |
|
4 |
10357743 |
15/05/2012 |
2,440,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTO |
B40448052 |
|
5 |
10021335 |
30/08/2006 |
750,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTO |
A05396338 |
|
6 |
90051343 |
07/01/2013 * |
5,000,000,000.00 |
STATE BANK OF INDIA-LEAD BANK |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTO |
B68978188 |
|
7 |
90050912 |
17/09/2004 |
3,200,000.00 |
KOTAK MAHINDRA BANK LTD |
36-38A; NARIMAN BHAWAN, 227; NARIMAN POINT, MUMBA |
- |
|
8 |
90050376 |
30/01/2004 |
2,470,000.00 |
KOTAK MAHINDRA BANK LTD |
36-38A, NARMAN BHAWAN; 227; NARIMAN POINT, MUMBAI |
- |
* Date of charge modification
Operations
The Company also
turned the corner in terms of achieving operating profit. However, PAT
continues to be depressed on account of higher interest burden and exceptional
items. The liquidity position has been unchanged over the last year.
During the year,
The Company has secured two large orders in consortium with JV partners for Rs
4550.000 Million wherein The Company's share is Rs 2280.000 Million. The said
contracts will improve the bottom-line of The Company.
In view of healthy
order book position management expect significant growth in the topline and
subsequent improvement in the bottom line for the coming financial year. Company's
order book as on 31st March 2015 stood as Rs 14360.000 Million
The contracts
predominantly relate to –
·
Supply, installation, testing and commissioning of
ballast less track in elevated and underground sections, and
·
Construction of Road Bed, Bridges, Platform,
Signaling & Telecommunication work, Installation of Track etc
I) Opportunities
Your company has started actively pursuing diverse business opportunities both in India and abroad. Some of the significant forays include:
a) Signaling and telecom projects for Western DFC.
b) Signaling and telecom projects for Eastern DFC.
c) Track and signaling projects in foreign countries like Oman, Bangladesh, and Thailand etc
Your Company is hopeful of achieving success in other initiatives also.
This widened port-folio will establish
Kalindee as a premier infrastructure/construction company in railway
sector.
II) IT Initiative
In order to be able to handle large diverse projects, major efforts were
undertaken to augment IT Infrastructure wherein the company has established
dedicated secure servers, robust e-mail system & pass-word protected file
sharing services.
Your Company has also provided robust fire-wall and anti-virus systems
to control threats from external sources.
Your company has successfully implemented SAP R3 ERP system for seamless
integration of operations, finance,
project management and accounting functions which is expected to have
far reaching positive impact on the performance. Through this system, all major
site offices are able to access their data and work on line thereby reducing
paperwork.
All employees have been covered under network based pay-roll, expense
management and leave management systems, which will go a long way in reducing
administrative cost and provide better services to employees.
BUSINESS SCENARIO:
Outlook and
Opportunities
The macroeconomic
situation in India has shown signs of improvement during the current year.
Acceleration in services and manufacturing growth in the face of subdued global
demand conditions point to the strengthening of domestic demand. In the light
of Government's commitment to reforms, the outlook for domestic macroeconomic
parameters is generally optimistic and a growth of around 8.50% is in the realm
of possibility in 2015-16.
Railway Budget
2015 has been a forward looking and futuristic budget wherein there is a
concrete vision for technology up-gradation and modernization of Indian
Railways. The focus on upgradation of infrastructure and creating capacity has been
the key direction of the budget. This augurs well for your company which is
involved in such capacity, augmentation projects and could be a game changer.
The major focus areas as announced in the Railway Budget where your company
foresee tremendous growth opportunities for your company going forward and are
stated as hereunder :–
·
Focus on doubling and tripling of the existing rail
network to decongest the over utilized network
·
Domestic investments and FDI in rail infrastructure
·
Setting up of Diamond Quadrilateral Network of High
Speed Rail connecting major metros and growth centers of the country.
·
Setting up Private freight terminals on PPPmodel to
develop network of freight terminals
·
Measures for improving safety and security
FUTURE OUTLOOK
The Government is committed to increase its spending on Infrastructure boost business within and outside the country. This includes improvement in Railways Infrastructure where your company has a strong presence. Your Company has taken suitable measures to position itself take benefits from the said move of Government Performance therefore enhancing systems have been introduced to get better acceptability of your Company in domestic and international market
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
|
|
|
|
Service tax demand |
236.467 |
|
Sales tax / VAT demand |
37.067 |
|
|
-- |
|
Total |
273.534 |
FIXED ASSETS
- Land
- Plant and Equipment
- Furniture and fixture
- Building
- Vehicle
- Computer
- Office equipment
- Electric Fittings
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE 2015
|
Sr. No |
Particulars |
Standalone |
|
Quarter Ended |
||
|
30.06.2015 |
||
|
Unaudited |
||
|
1 |
Income From
Operations |
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
736.243 |
|
|
b. Other Operating Income |
0.872 |
|
|
Total Income from
Operations (Net) |
737.115 |
|
2 |
Expenditure |
|
|
|
a. Cost of material Consumed |
620.818 |
|
|
b. Purchase of Stock-in trade |
0.000 |
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
-33.169 |
|
|
d. Employees Benefit Expenses |
53.434 |
|
|
e. Depreciation and Amortisation Expenses |
4.940 |
|
|
f. Other expenses |
34.947 |
|
|
Total Expenses |
680.970 |
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
56.145 |
|
4 |
Other Income |
10.148 |
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
66.292 |
|
6 |
Finance Costs |
76.224 |
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
(9.932) |
|
8 |
Exceptional items |
(7.721) |
|
9 |
Profit from
ordinary activities before tax |
(17.653) |
|
10 |
Tax Expense |
-- |
|
|
- Income Tax |
-- |
|
|
- Deferred Tax |
-- |
|
11 |
Net Profit After
Tax |
(17.653) |
|
12 |
Paid-up equity share capital (face value of Rs.10 per share) |
165.076 |
|
13 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
|
|
14 |
Earning Per Share (of Rs.10 each) (not annualized) |
(1.07) |
|
|
Basic EPS |
|
|
|
Diluted EPS |
(1.07) |
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
15 |
Public Shareholding |
9641699 |
|
|
- No. of shares |
58.41% |
|
|
- Percentage of shareholding |
685898 |
|
16 |
Promoter &
Promoter Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- No. of shares |
Nil |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
Nil |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
Nil |
|
|
b) Non-encumbered |
|
|
|
- No. of shares |
6865898 |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
100.00% |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
41.59% |
|
|
Particulars |
Quarter ended 30.06.2015 |
|
B |
Investor Complaints |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
Nil |
|
|
Disposed off during the quarter |
Nil |
|
|
Remaining unresolved at the end of the
quarter |
Nil |
NOTES
1. This statement has been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on 03-August-2015.
2. The above results have been reviewed by the statutory auditors as required
under clause 41 of the listing agreement.
3. The company had initiated the process of balance confirmations and account
reconciliation of all the trade receivables and created a provision for
doubtful debts Rs. 162.105 Million during the financial year ended 31st March
2015.
4. The process of balance confirmations and account reconciliation of all trade
receivables is still under process and an additional amount of provision for
doubtful debts of Rs 7.721 Million has been provided during the current
quarter. Further adjustments, if any, arising on completion of reconciliation
will be adjusted in the subsequent period.
5. Considering the nature of the industry, the results of any quarter may not
be a true and /or proportionate reflection of the annual performance of the
company. The provision for tax and deferred tax, if any, will therefore be made
at the end of financial year.
6. The company operates in a single operating segment of Railway Construction
work.
7. Promoter & Promoter Group Shareholding excludes 1,233,780 (7.47%)
belonging to erstwhile promoters covered under Share Purchase Agreement dt.
20.07.2013 pending transfer on account of certain inheritance
issues/proceedings arising pursuant to their death.
8. The merger scheme of arrangements between Kalindee Rail Nirman (Engineers)
Ltd and Texmaco Rail & Engineering Ltd was approved by the shareholders of
the respective companies at their court convened Extra Ordinary General
Meetings held on 11th & 14th July 2015 respectively.
9. The figures for the quarter ended 31-March-15 are the balancing figures
between the audited figures for the full financial year ended 31-March-15 and
the unaudited figures upto the period ended 31-December-15.
10. Previous year's figures have been re-grouped / re-arranged wherever
necessary.
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.66.38 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
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 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
46 |
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.