MIRA INFORM REPORT

 

 

Report No. :

343030

Report Date :

29.09.2015

 

IDENTIFICATION DETAILS

 

Name :

WIPRO ENTERPRISES PRIVATE LIMITED

 

 

Formerly Known As :

WIPRO ENTERPRISES LIMITED (w.e.f. 19.04.2013)

 

AZIM PREMJI CUSTODIAL SERVICES LIMITED (w.e.f. 20.03.2013)

 

AZIM PREMJI CUSTODIAL SERVICES PRIVATE LIMITED

 

 

Registered Office :

C Block, CCLG Division, Doddakannelli, Sarjapur Road, Bangalore – 560035, Karnataka

Tel. No.:

91-80-39916109

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

17.08.2010

 

 

Com. Reg. No.:

08-054808

 

 

Capital Investment / Paid-up Capital :

Rs.4923.000 Million

 

 

CIN No.:

[Company Identification No.]

U15141KA2010PTC054808

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRA17777E

 

 

PAN No.:

[Permanent Account No.]

AAJCA0072C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The company provides personal wash products, soaps, toiletries, personal care products, baby care products, wellness products, electrical wire devices, domestic and commercial lighting products, and modular office furniture.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (67)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a Bangalore based company incorporated on 17th August, 2010. It has fine track record.

 

The company possesses a decent profile marked by decent networth base along with ample liquidity and profitability.

 

Trade relations are reported to be fair. Business is active. Payment terms are reported to be regular and as per commitments.

 

The company 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

 

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION DENIED

 

Management Non Co-operative (91-80-39916109 / 28440011)

 

 

LOCATIONS

 

Registered Office :

C Block, CCLG Division, Doddakannelli, Sarjapur Road, Bangalore – 560035, Karnataka, India

Tel. No.:

91-80-39916109

Fax No.:

91-80-28440054

E-Mail :

communications.wel@wipro.com

info.win@wipro.com

Website :

www.wiproel.com

 

 

Branch Office :

East

  • Kolkata 
  • Odisha
  • Guwahati

 

North

  • New Delhi
  • Gurgaon 
  • Noida 
  • Greater Noida
  • Jaipur

 

South

  • Bangalore 
  • Mysore 
  • Chennai 
  • Chengalpattu 
  • Cochin 
  • Hyderabad 
  • Secunderabad 
  • Visakhapatnam 
  • Vijayawada

 

West

  • Pune 
  • Navi Mumbai 
  • Mumbai 
  • Gujarat

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Azim Hasham Premji

Designation :

Whole Time Director

Address :

Survey No.75, 133, 135/1, 136/1 No.574, Doddakannelli Village, Sarjapur Road, Bangalore – 560035, Karnataka, India

Date of Birth/Age :

24.07.1945

Date of Appointment :

17.08.2010

DIN No.:

00234280

 

 

Name :

Mr. Suresh Chandra Senapaty

Designation :

Additional Director

Address :

301, Brigade Lavelle I, Lavelle Road, Bangalore – 560001, Karnataka, India 

Date of Birth/Age :

03.03.1957

Date of Appointment :

19.08.2014

DIN No.:

00018711

 

 

Name :

Mr. Vineet Agrawal

Designation :

Whole Time Director

Address :

No: A-1 Ground Floor, 21/16, Brunton Rustumji, Apartments, Brunton Road, Bangalore – 560025, Karnataka, India 

Date of Birth/Age :

17.01.1962

Date of Appointment :

01.04.2013

DIN No.:

02370129

 

 

Name :

Mr. Pratik Kumar

Designation :

Whole Time Director

Address :

421/A Palm Meadows 2 PH, Whitefield RD, Ramagondanahalli, Bangalore – 560066, Karnataka, India 

Date of Birth/Age :

23.10.1965

Date of Appointment :

01.04.2013

DIN No.:

00328453

 

 

Name :

Mr. Rishad Azim Premji

Designation :

Additional Director

Address :

46 F.B. Desai Road, Mumbai – 400026, Maharashtra India 

Date of Birth/Age :

09.01.1977

Date of Appointment :

30.09.2013

DIN No.:

02983899

 

 

KEY EXECUTIVES

 

Name :

Mr. Vineet Agrawal

Designation :

Chief Executive Officer – Wipro Consumer Care and Lighting Business and Executive Director

 

 

Name :

Mr. Pratik Kumar

Designation :

Chief Executive Officer – Wipro Infrastructure Engineering Business and Executive Director

 

 

Name :

Mr. Raghavendran Swaminathan

Designation :

Chief Financial Officer

 

 

Name :

Mr. Chethan

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2015

 

Category of Shareholder

No. of Shares

Percentage of Holding

Promoter and Promoter Group

 

 

http://www.bseindia.com/images/clear.gif(1) Indian

 

 

Individuals / Hindu Undivided Family

19,133,886

3.89

Central Government/State Government(s)

 

 

Bodies Corporate (Promoter in his Capacity as Director of Private Limited/Section 25 Companies )

2,281,265

0.46

Financial Institutions / Banks

-

-

Any Others-Partnership Firm (Promoter in his Capacity as Partner of Partnership Firm)

356,584,436

72.43

Others (TRUST)

98,142,824

19.93

http://www.bseindia.com/images/clear.gifSub Total A(1)

476,142,411

96.71

http://www.bseindia.com/images/clear.gif(2) Foreign

 

 

Individuals (NRIs/Foreign Individuals)

-

-

Bodies Corporate

-

-

Institutions

-

-

Qualified Foreign Investor

-

-

Others

-

-

http://www.bseindia.com/images/clear.gifSub Total A(1)+A(2)

476,142,411

96.71

Public Shareholding

 

 

Institutions

 

 

Mutual Funds /UTI

-

-

Financial Institutions /Banks

-

-

Central Government/State Government(s)

-

-

Venture Capital Funds

-

-

Insurance Companies

40,000

0.01

Foreign Institutional Investors

375,905

0.08

Foreign Venture Capital Investors

-

-

Qualified Foreign Investor

-

-

Others

-

-

http://www.bseindia.com/images/clear.gifSub Total B(1)

415,905

0.08

Non-institutions

 

 

Bodies Corporate

5,814,910

1.18

Individuals

 

 

(i) Individuals holding nominal share capital upto Rs.0.100 million

954,112

0.19

(ii) Individuals holding nominal share capital in excess of Rs.0.100 million

8,809,162

1.79

Others

 

 

Clearing Members

157

-

Non-Resident Indians

177,348

0.04

Trusts

50

-

Non-Executive Directors and Executive Directors & Relatives

14,933

-

Qualified Foreign Investor

-

-

http://www.bseindia.com/images/clear.gifSub Total B(2)

15,770,672

3.20

Total B=B(1)+B(2) :

16,186,577

3.29

Total (A+B) :

492,328,988

100.00

Shares held by custodians, against which

 

 

Depository Receipts have been issued

 

 

Promoter and Promoter Group

 

 

Public

-

-

GRAND TOTAL (A + B + C) :

492,328,988

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The company provides personal wash products, soaps, toiletries, personal care products, baby care products, wellness products, electrical wire devices, domestic and commercial lighting products, and modular office furniture.

 

 

Products :
  • Soaps
  • Toiletries
  • Personal Care Products
  • Baby Care Products
  • Wellness Products
  • Electrical Wire Devices
  • Domestic and Commercial Lighting Products
  • Modular Office Furniture

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

Customers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Banker Name :

IDBI Bank

Branch :

Not Divulged

Person Name (With Designation) :

Not Divulged

Contact Number :

Not Divulged

Name of Account Holder :

Not Divulged

Account Number :

Not Divulged

Account Since (Date/Year of Account Opening) :

Not Divulged

Average Balance Maintained :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

  • Union Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2015

Rs. In Million

31.03.2014

Rs. In Million

Short Term Borrowings

 

 

Cash credit

Interest rate applicable for the cash credit facility is 10.2%.

0.000

5.000

 

 

 

Total

0.000

5.000

 

 

Statutory Auditors :

 

Name :

BSR and Company LLP

Chartered Accountants

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Associate :
  • Wipro GE Healthcare Private Limited
  • Wipro Kawasaki Precision Machinery Private Limited

 

 

Entity controlled by Director :
  • Azim Premji Foundation
  • Wipro Cares
  • Wipro Limited
  • Wipro Travel Services Limited

 

 

 

LIST OF RELATED PARTIES WHERE CONTROL EXISTS:

 

Subsidiaries

Step Subsidiaries

Cygnus Negri Investments Private Limited

 

 

Wipro Consumer Care Limited

 

 

Wipro Enterprises Cyprus Limited (formerly

WMNETSERV Limited)

 

 

 

Wipro Infrastructure Engineering

AB

 

 

 

Wipro Infrastructure

Engineering Oy (A)

 

 

Hydrauto Celka San ve Tic**

 

Wipro Singapore Pte Limited

 

 

 

Wipro Unza Holdings Limited

(A)

 

Wipro Infrastructure Engineering

S.A. (formerly Hervil S.A) #

 

 

Wipro Enterprises S.R.L. (formerly

Hervil Asset Management SRL)

 

 

Wipro Yardley FZE

 

 

Yardley of London Limited

 

 

Wipro Enterprises Netherlands BV

 

 

 

Wipro Enterprises

Participações Ltda (A)

 

Wipro Enterprises Inc.

 

Wipro Chandrika Limited*

 

 

Wipro Infrastructure Engineering

 

 

Machinery (Changhou) Co, Limited

 

 

 

*All the above direct subsidiaries are 100% held by the Company except Wipro Chandrika Limited in which the Company holds 90 % of the equity securities.

 

** Defunct company.

 

# Wipro Enterprises Cyprus Limited holds 98.18 % in this entity.

As of March 31, 2015, the Company also held 26% of Wipro Kawasaki Precision Machinery Private Limited and 49% of Wipro GE Healthcare Private Ltd that are accounted for as equity method investments.

 

 

 

(A) Step Subsidiary details of Wipro Infrastructure Engineering Oy, Wipro Unza Holdings Limited and Wipro Enterprises Participações Ltda are as follows:

 

Wipro Infrastructure Engineering Oy

 

 

 

Wipro Infrastructure Engineering

LLC

 

Wipro Unza Holdings Limited

 

 

 

Wipro Unza Singapore Pte Limited

 

 

 

L D Waxson (Singapore) Pte

Limited (B)

 

Wipro Unza Indochina Pte Limited

 

 

 

Wipro Unza Vietnam Co, Limited

 

Wipro Unza Cathay Limited

 

 

 

L D Waxson (HK) Limited

 

Wipro Unza China Limited

 

 

 

Wipro Unza (Guangdong)

Consumer Products Limited

 

PT Unza Vitalis

 

 

Wipro Unza Thailand Limited

 

 

Wipro Unza Overseas Limited

 

 

Unzafrica Limited

 

 

Wipro Unza Middle East Limited

 

 

Unza International Limited

 

 

Wipro Unza Nusantara Sdn Bhd

(Formerly Unza Nusantara Sdn.

Bhd.)

 

 

 

Unza (Malaysia) Sdn Bhd

 

 

Wipro Unza (Malaysia) Sdn Bhd

 

 

Wipro Manufacturing Services

Sdn Bhd (B)

 

 

Gervas Corporation Sdn Bhd

 

 

Formapac Sdn Bhd

 

 

Ginvera Marketing Enterprises

Sdn. Bhd

 

 

Attractive Avenue Sdn. Bhd

Wipro Enterprises Participações Ltda

 

 

 

Wipro Do Brasil Industrial S.A

(Formerly R.K.M – Equipamentos

Hidráulicos S.A)

 

 

(B) Step Subsidiary details of L D Waxson (Singapore) Pte Limited and Wipro Manufacturing Services Sdn Bhd are as follows:

 

L D Waxson (Singapore) Pte Limited

 

 

 

L D Waxson (Taiwan) Co. Limited

 

 

L D Waxson (Quanzhou) Co. Limited

 

 

 

Sanghai Wocheng Trading

Development Co. Limited

Wipro Manufacturing Services Sdn Bhd

 

 

 

Shubido Pacific Sdn Bhd (a)

 

 

(a) All the above subsidiaries are 100% held by the Company except Shubido Pacific Sdn Bhd in which the Company holds 62.55% of the equity securities.

Gervas (B) Sdn Bhd is stuck off from the Register of Members and dissolved as per Notice of Gazette dated January 5, 2015.

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

495000000

Equity Shares

Rs.10/- each

Rs.4950.000 Million

1000000

7% redeemable preference shares

Rs.10/- each

Rs.50.000 Million

 

 

 

 

 

Total

 

Rs.5000.000 Million

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

492328988

Equity Shares

Rs.10/- each

Rs. 4923.000 Million

 

 

 

 

 

 

Terms / rights attached to equity shares

 

The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors, if any, is subject to shareholders approval in the ensuing Annual General Meeting.

 

In the event of liquidation of the Company, the equity shareholders will be entitled to receive the remaining assets of the Company, after distribution of all preferential amounts, if any, in proportion to the number of equity shares held by the shareholders.

 

 

 

Terms / rights attached to preference shares

 

The preference shares bear a dividend of 7% per annum on the face value, determined from the date of allotment (May 12, 2013) of the redeemable preference shares and have a preferential right to receive their redemption value in precedence to holders of equity shares during a winding up or repayment of capital. The shares are redeemable at Rs.235.20 per share after 12 months from the date of allotment. Accordingly, the shares were redeemed on May 11, 2014.

 

 

Reconciliation of number of shares

 

Name of Shareholder

Number of Shares

Rs. In Million

Equity shares:

 

 

Opening number of shares outstanding

492,328,988

4923.000

Shares issued during the year

-

-

Closing number of shares outstanding

492,328,988

4923.000

7% Redeemable preference Shares:

 

 

Opening number of shares outstanding

307,958

15.000

Shares issued / (redeemed) during the year

(307,958)

(15.000)

Closing number of shares outstanding

-

-

 

 

Details of shareholders of equity shares holding more than 5% of the total shares of the Company

 

Name of Shareholder

Number of Shares

% holding

Mr. Azim Hasham Premji, Partner representing Prazim Traders

141,325,318

28.71

Mr. Azim Hasham Premji, Partner representing Zash Traders

141,067,918

28.65

Azim Premji Trust

98,142,824

19.93

Mr. Azim Hasham Premji, Partner representing Hasham Traders

74,191,200

15.07


 

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

4923.000

4938.000

4938.000

(b) Reserves & Surplus

47319.000

44147.000

41033.000

(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)

52242.000

49085.000

45971.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

425.000

423.000

373.000

(c) Other long term liabilities

0.000

0.000

50.000

(d) long-term provisions

205.000

176.000

168.000

Total Non-current Liabilities (3)

630.000

599.000

591.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

159.000

52.000

107.000

(b) Trade payables

5178.000

4681.000

5227.000

(c) Other current liabilities

1282.000

1091.000

734.000

(d) Short-term provisions

165.000

127.000

124.000

Total Current Liabilities (4)

6784.000

5951.000

6192.000

 

 

 

 

TOTAL

59656.000

55635.000

52754.000

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

7189.000

6091.000

4134.000

(ii) Intangible Assets

1004.000

1064.000

1124.000

(iii) Capital work-in-progress

678.000

1136.000

1821.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

19301.000

18969.000

17275.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1024.000

775.000

1046.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

29196.000

28035.000

25400.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

19289.000

16772.000

12459.000

(b) Inventories

3902.000

4255.000

4444.000

(c) Trade receivables

2933.000

3054.000

3373.000

(d) Cash and cash equivalents

2113.000

1276.000

1184.000

(e) Short-term loans and advances

1816.000

1322.000

1077.000

(f) Other current assets

407.000

921.000

4817.000

Total Current Assets

30460.000

27600.000

27354.000

 

 

 

 

TOTAL

59656.000

55635.000

52754.000

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

32863.000

30574.000

31815.000

 

 

Other Income

1422.000

1216.000

1961.000

 

 

TOTAL                                              (A)

34285.000

31790.000

33776.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

12750.000

11736.000

12478.000

 

 

Purchase of Stock-in-trade

5628.000

6298.000

6496.000

 

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

374.000

(241.000)

184.000

 

 

Employee Benefits Expenses

2372.000

2123.000

2117.000

 

 

Other Expenses

8254.000

7398.000

7366.000

 

 

TOTAL                                              (B)

29378.000

27314.000

28641.000

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

4907.000

4476.000

5135.000

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

9.000

15.000

39.000

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

4898.000

4461.000

5096.000

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

707.000

633.000

538.000

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                  (G)     

4191.000

3828.000

4558.000

 

 

 

 

 

Less

TAX                                                                  (H)

890.000

705.000

886.000

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

3301.000

3123.000

3672.000

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of goods on F.O.B. basis

1252.000

1330.000

1473.000

 

 

Agency Commission

14.000

21.000

37.000

 

TOTAL EARNINGS

1266.000

1351.000

1510

 

 

 

 

 

 

IMPORTS

 

 

 

 

(Does not include value of imported items locally purchased)

 

 

 

 

 

Raw materials, components and peripheral

2833.000

2924.000

2575.000

 

 

Stores and spares

30.000

59.000

53.000

 

 

Capital goods

35.000

389.000

403.000

 

TOTAL IMPORTS

2898.000

3372.000

3031.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

6.70

6.34

7.46

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

5462.000

4222.000

2850.000

Net cash generated from operating activities

4410.000

3425.000

1901.000

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

PAT / Sales

(%)

10.04

10.21

11.54

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

14.93

14.64

16.14

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

10.56

10.77

13.54

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

0.08

0.10

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.00

0.00

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.49

4.64

4.42

 

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

4938.000

4938.000

4923.000

Reserves & Surplus

41033.000

44147.000

47319.000

Net worth

45971.000

49085.000

52242.000

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

107.000

52.000

159.000

Total borrowings

107.000

52.000

159.000

Debt/Equity ratio

0.002

0.001

0.003

 

 

 

 

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

31815.000

30574.000

32863.000

 

 

(3.901)

7.487

 

 

 

 

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

31815.000

30574.000

32863.000

Profit

3672.000

3123.000

3301.000

 

11.54%

10.21%

10.04%

 

 

 

 

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

No

8

Designation of contact person

No

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

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

SCHEME OF AMALGAMATION OF VIGNANI SOLUTIONS PRIVATE LIMITED

 

Vignani Solutions Private Limited (‘VSPL’) was incorporated as a private limited company under the Companies Act, 1956 in February 2009. VSPL is engaged in the business of designing, developing, importing, assembly, manufacture, purchase, and supply of LED products, solar application products and automation related turnkey projects. VSPL was a wholly owned subsidiary of Wipro Enterprises Limited and was headquarted in Bangalore, India.

 

The Board of Directors of the Company vide their board meeting dated September 25, 2013 approved the scheme of amalgamation of VSPL into the Company (‘Scheme’) with the appointed date as April 1, 2013. The Scheme has been approved by the Honourable High Court of Karnataka on March 18,

2014 and a certified copy of the same is filed with Registrar of Companies.

 

The Company has accounted for the amalgamation in accordance with the treatment prescribed in the Scheme which is pooling of interest method of accounting prescribed under Accounting Standard 14 – “Accounting for Amalgamations”.

 

All the assets and liabilities recorded in the books of VSPL have been transferred at the book values to and vested in the Company pursuant to the scheme and have been recorded by the

 

Company at their book values as appearing in the books of VSPL. There are no material accounting policy differences between the Company and VSPL and accordingly no adjustments have been carried out.

Since VSPL is a wholly owned subsidiary of the Company, there was no exchange of shares to effect the amalgamation. The difference between the amounts recorded as investments of the Company and the amount of share capital of VSPL have been adjusted in general reserves.

 

 

UNSECURED LOANS:

 

Particulars

31.03.2015

Rs. In Million

31.03.2014

Rs. In Million

Short Term Borrowings

 

 

Loans repayable on demand from banks

(Includes cash management and channel financing facilities with banks. Interest rate applicable for the above facility is 12.8 %.)

66.000

47.000

Other short term loans

Interest rate applicable for the above facility is 1.2%.

93.000

0.000

 

 

 

Total

159.000

47.000

 

 

NO CHARGES EXIST FOR COMPANY

 

 

 

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Furniture and Fixture

·         Office Equipment

·         Computer

·         Computer Software

·         Vehicles

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.66.10

UK Pound

1

Rs.100.89

Euro

1

Rs.73.96

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

67

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NB

NEW BUSINESS

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.