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|
%20-%20501899%2004-Apr-2018_files/image002.jpg){kind=small}
%20-%20501899%2004-Apr-2018_files/image004.jpg)
%20-%20501899%2004-Apr-2018_files/image005.gif)
MIRA INFORM REPORT
|
Report No. : |
501899 |
|
Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
RAMCO INDUSTRIES LIMITED SRI RAMCO SPINNERS (DIVISION OF RAMCO INDUSTRIES LIMITED) |
|
|
|
|
Registered
Office : |
47, PSK Nagar, Rajapalayam, Virudhunagar District- 626108, Tamilnadu |
|
Tel. No.: |
91-44-28478585 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
27.01.1965 |
|
|
|
|
Com. Reg. No.: |
18-005297 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 86.663 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L26943TN1965PLC005297 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is engaged in manufacture of Fiber Cement (FC)
sheets and Calcium Silicate Boards (CSBs) and also Textiles and power generation
from wind mills. (Registered activity) |
|
|
|
|
No. of Employees
: |
1273 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Ramco Industries Limited was incorporated in the year 1965. It is a
manufacturer and seller of AC roofing. For the financial year 2017, there has been minimal increased in its
revenue by 0.03% and has reported decent profit margin of 7.62%. The healthy financial profile of the company is marked by strong
networth base along with negligible debt level. The company has its share price trading at around INR 240.90 against
the face value (FV) of INR 1 on BSE as 3rd April, 2018. As per the unaudited quarterly financials of December 2017, the
company has achieved revenue of INR 1813.800 Million and has reported profit
margin of 6.45%. The rating takes into consideration the subject’s long track record of
business operations along with extensive experience of its promoters. However, rating strength are partially offset by RIL’s exposure to
intense competitive and regulatory risks in the AC roofing market of its
promoters. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered for good business
dealings at usual trade terms and conditions. Note: “Sri Ramco
Spineers” is a division of “Ramco Industries Limited” |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA RATING |
|
Rating |
Term Loans = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
03.07.2017 |
|
Rating Agency Name |
ICRA RATING |
|
Rating |
Short Term Proposed Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
03.07.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction)
LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as 0.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
LOCATIONS
|
Registered Office : |
47, PSK Nagar, Rajapalayam, Virudhunagar District- 626108, Tamilnadu,
India |
|
Tel. No.: |
91-44-28478585 / 42983100 |
|
Fax No.: |
91-44-28478597 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Auras
Corporate Centre, Vi Floor, 98-A, Dr.
Radhakrishnan Road, Mylapore, Chennai – 600004, Tamilnadu, India |
|
|
|
|
Factories : |
Building Products
Division
Textile Division
(Cotton Yarn)
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. P.R. Ramasubrahmaneya Rajha, |
|
Designation : |
Chairman |
|
Qualification : |
B.Sc. |
|
|
|
|
Name : |
Mr. Venketrama Raja Poosapadi Ramasubrahmaneya Rajha |
|
Designation : |
Director |
|
Date of Birth/Age : |
Ramamandiram Tenkasi Road, Rajapalayam – 626117,
Tamilnadu, India |
|
Qualification : |
MBA |
|
Date of Appointment : |
28.06.2013 |
|
DIN No.: |
00331406 |
|
|
|
|
Name : |
Mr. Poosapadi Venketrama Raja Abinavramasubramaniamraja |
|
Designation : |
Managing Director |
|
Address : |
142, Santhome High Road, Raja Annamalaipuram, Chennai –
600028, Tamilnadu, India |
|
Qualification : |
B.Sc. (Indl. Engg.) |
|
Date of Appointment : |
04.06.2017 |
|
DIN No.: |
07273249 |
|
|
|
|
Name : |
Mr. Sinthalapadi Srirenga Raja Ramachandra Raja |
|
Designation : |
Director |
|
Address : |
58,B.S.K.Nagar Rajapalayam – 626108, Tamilnadu, India |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
25.06.1992 |
|
DIN No.: |
00331491 |
|
|
|
|
Name : |
Mr. Ramachandran Kottur Tiruvengadam |
|
Designation : |
Director |
|
Address : |
29 (Old No 12) Thiruvengadam Street, Adyar, Chennai –
600020, Tamilnadu, India |
|
Qualification : |
B.E. |
|
Date of Appointment : |
28.04.1996 |
|
DIN No.: |
00351334 |
|
|
|
|
Name : |
Mr. Nambur Krishnama Raja Shrikantan Raja |
|
Designation : |
Director |
|
Address : |
O.No.39, N.No.14, P.S.K.Nagar, Rajapalayam – 626108,
Tamilnadu, India |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
28.04.2006 |
|
DIN No.: |
00350693 |
|
|
|
|
Name : |
Mr. Radheyshyam Dalchand Agarwal |
|
Designation : |
Director |
|
Address : |
A-102, Chaitanya Towers Near Karur Vysya Bank, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
|
Qualification : |
B.Sc., B.E. |
|
Date of Appointment : |
23.10.2008 |
|
DIN No.: |
00012594 |
|
|
|
|
Name : |
Mr. Santhana Raman Vaidyanathan |
|
Designation : |
Director |
|
Address : |
N0 6, Sridevi Colony Near 7th Avenue, Ashok Nagar, Chennai
– 600083, Tamilnadu India |
|
Qualification : |
B.Com., CAIIB |
|
Date of Appointment : |
23.09.2015 |
|
DIN No.: |
00212334 |
|
|
|
|
Name : |
Mrs. Chitra Venkataraman |
|
Designation : |
Director |
|
Address : |
Old No.17-B, New No.31, 4th Main Road R.A. Puram, Chennai
– 600028, Tamilnadu, India |
|
Date of Appointment : |
24.03.2015 |
|
DIN No.: |
07044099 |
KEY EXECUTIVES
|
Name : |
Mr. Sankaranarayanan Kulathu |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
13/7 Chitrakulam South Street, Mylapore, Chennai – 600004,
Tamilnadu India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AAOPS9786P |
|
|
|
|
Name : |
Prem Ganapathy Shankar |
|
Designation : |
Chief Executive Officer (KMP) |
|
Address : |
Old No.2, New No.3, First Cross St, Karpagam Gardens, Adyar
Chennai – 600020, Tamilandu, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AHFPS4019P |
|
|
|
|
Name : |
S Balamurugasundaram |
|
Designation : |
Company Secretary |
|
Address : |
A19, Krishna Towers, Sardar Patel Road, Tharamani, Chennai
– 600113, Tamilnadu, India |
|
Date of Appointment : |
02.01.2013 |
|
PAN No.: |
AANPB0649K |
SHAREHOLDING PATTERN
As on 31.12.2017
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
4,67,29,821 |
53.92 |
|
|
(B) Public |
3,99,33,239 |
46.08 |
|
|
Grand Total |
8,66,63,060 |
100.00 |
|
%20-%20501899%2004-Apr-2018_files/image006.gif)
Statement
showing shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu undivided Family |
4,67,29,821 |
53.92 |
|
|
Nalina Ramalakshmi |
63,00,655 |
7.27 |
|
|
Saradha Deepa |
62,20,655 |
7.18 |
|
|
P.R. Venketrama Raja |
62,20,655 |
7.18 |
|
|
R Sudarsanam . |
30,77,276 |
3.55 |
|
|
Ramachandra Raja Chittammal |
10,53,880 |
1.22 |
|
|
S.R.Srirama Raja |
2,43,000 |
0.28 |
|
|
N.R.K.Ramkumar Raja |
1,74,640 |
0.20 |
|
|
P.V. Nirmala |
60,000 |
0.07 |
|
|
P V Srisandhya |
42,400 |
0.05 |
|
|
P V Abinav Ramasubramaniam Raja |
40,000 |
0.05 |
|
|
The Ramco Cements Limited |
1,33,72,500 |
15.43 |
|
|
Rajapalayam Mills Limited |
79,20,680 |
9.14 |
|
|
Ramco Management Private Limited |
18,05,800 |
2.08 |
|
|
The Ramaraju Surgical Cotton Mills Limited |
1,35,880 |
0.16 |
|
|
Ramco Private Limited |
39,600 |
0.05 |
|
|
Ramco Agencies Private Limited |
22,200 |
0.03 |
|
|
Sub Total A1 |
4,67,29,821 |
53.92 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
4,67,29,821 |
53.92 |
|
Statement showing
shareholding pattern of the Public shareholder
|
Category
& Name of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
18,47,034 |
2.13 |
|
|
Sundaram Mutual Fund A/C Sundaram Value
Fund - Series X |
18,16,974 |
2.10 |
|
|
Alternate Investment Funds |
1,35,000 |
0.16 |
|
|
Foreign Portfolio Investors |
5,09,642 |
0.59 |
|
|
Financial Institutions/ Banks |
15,79,047 |
1.82 |
|
|
General Insurance Corporation of India |
14,80,000 |
1.71 |
|
|
Sub Total B1 |
40,70,723 |
4.70 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0.00 |
||
|
Central Government/ State Government(s)/
President of India |
65,180 |
0.08 |
|
|
Sub Total B2 |
65,180 |
0.08 |
|
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200
Million |
1,84,32,013 |
21.27 |
|
|
Individual share capital in excess of INR 0.200 Million |
1,20,90,908 |
13.95 |
|
|
Govindlal M Parikh |
39,63,048 |
4.57 |
|
|
Any Other (specify) |
52,74,415 |
6.09 |
|
|
Bodies Corporate |
25,56,109 |
2.95 |
|
|
Clearing Members |
91,699 |
0.11 |
|
|
Director or Director's Relatives |
10 |
0.00 |
|
|
Foreign Portfolio Investors (Category III) |
2,500 |
0.00 |
|
|
HUF |
15,78,366 |
1.82 |
|
|
NRI – Non- Repat |
6,02,288 |
0.69 |
|
|
NRI – Repat |
4,23,918 |
0.49 |
|
|
Trusts |
19,525 |
0.02 |
|
|
Sub
Total B3 |
3,57,97,336 |
41.31 |
|
|
B=B1+B2+B3 |
3,99,33,239 |
46.08 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in manufacture of Fiber Cement (FC)
sheets and Calcium Silicate Boards (CSBs) and also Textiles and power
generation from wind mills. (Registered activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
1273 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
M.S. Jagannathan and N. Krishnaswami Chartered Accountant |
|
Address : |
Unit - 5, Ground Floor, Abirami Apartments,
No.14, V.O.C. Road, Cantonment, Tiruchirapalli – 620 001, Tamilnadu, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Companies over
which KMP/Relatives of KMP exercise significant influence : |
|
|
|
|
|
Employee Benefit
Funds where control exist : |
|
|
|
|
|
Other entities over
which there is a significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.1/- each |
Rs.200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
86663060 |
Equity Shares |
Rs.1/- each |
Rs.86.663
Million |
|
|
|
|
|
The details of Shareholders holding more than
5% shares :
|
Particular |
Number of share
held |
% of Holding |
|
The Ramco Cements Limited |
13372500 |
15.43 |
|
Rajapalayam Mills Limited |
7920680 |
9.14 |
|
P.R.Venketrama |
5500000 |
6.35 |
|
Saradha Deepa |
5500000 |
6.35 |
|
Nalina Ramalak |
5580000 |
6.44 |
|
Total |
37873180 |
43.71 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
86.663 |
86.663 |
86.663 |
|
(b) Reserves &
Surplus |
5810.644 |
5151.696 |
4680.804 |
|
(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) |
5897.307 |
5238.359 |
4767.467 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
645.249 |
1356.591 |
1090.745 |
|
(b) Deferred tax
liabilities (Net) |
110.422 |
24.031 |
95.830 |
|
(c) Other long term
liabilities |
16.253 |
17.423 |
239.615 |
|
(d) long-term provisions |
0.000 |
0.000 |
34.102 |
|
Total Non-current
Liabilities (3) |
771.924 |
1398.045 |
1460.292 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2341.082 |
1745.147 |
2071.524 |
|
(b) Trade payables |
511.221 |
384.027 |
369.498 |
|
(c) Other current
liabilities |
1295.772 |
1274.466 |
1360.528 |
|
(d) Short-term provisions |
302.556 |
62.856 |
35.047 |
|
Total Current Liabilities
(4) |
4450.631 |
3466.496 |
3836.597 |
|
|
|
|
|
|
TOTAL |
11119.862 |
10102.900 |
10064.356 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3905.098 |
3741.565 |
3698.939 |
|
(ii) Intangible Assets |
54.616 |
14.953 |
5.087 |
|
(iii) Capital
work-in-progress |
24.953 |
141.112 |
34.040 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2412.584 |
2357.423 |
2131.567 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
51.104 |
46.880 |
195.665 |
|
(e) Other Non-current
assets |
83.187 |
95.590 |
31.162 |
|
Total Non-Current Assets |
6531.542 |
6397.523 |
6096.460 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3047.837 |
2420.655 |
2598.443 |
|
(c) Trade receivables |
731.763 |
688.288 |
693.437 |
|
(d) Cash and cash
equivalents |
55.380 |
97.109 |
72.890 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
383.889 |
|
(f) Other current assets |
753.340 |
499.325 |
219.237 |
|
Total Current Assets |
4588.320 |
3705.377 |
3967.896 |
|
|
|
|
|
|
TOTAL |
11119.862 |
10102.900 |
10064.356 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
7853.020 |
7850.136 |
7349.673 |
|
|
Other Income |
433.667 |
347.358 |
259.830 |
|
|
TOTAL |
8286.687 |
8197.494 |
7609.503 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3789.356 |
4262.720 |
4734.351 |
|
|
Cost of resale materials |
13.108 |
32.442 |
11.258 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
107.269 |
46.243 |
(130.789) |
|
|
Excise duty on sale of
goods |
732.444 |
776.225 |
0.000 |
|
|
Employees benefits
expense |
671.794 |
609.653 |
536.958 |
|
|
Other expenses |
1808.103 |
1729.766 |
1802.189 |
|
|
Exceptional items |
(116.848) |
(123.292) |
(101.326) |
|
|
TOTAL |
7005.226 |
7333.757 |
6852.641 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1281.461 |
863.737 |
756.862 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
335.360 |
397.761 |
370.271 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
946.101 |
465.976 |
386.591 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
214.811 |
196.034 |
188.924 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
731.290 |
269.942 |
197.667 |
|
|
|
|
|
|
|
Less |
TAX |
132.560 |
-63.343 |
-11.642 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
598.730 |
333.285 |
209.309 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods |
NA |
290.640 |
135.608 |
|
|
Royalty Income |
NA |
126.266 |
143.114 |
|
|
Dividend from Srilankan
Subsidiary |
NA |
83.865 |
21.433 |
|
|
TOTAL EARNINGS |
NA |
500.771 |
300.155 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
2087.436 |
2198.297 |
|
|
Components and Stores
parts |
NA |
4.993 |
2.056 |
|
|
Capital Goods |
NA |
35.938 |
32.341 |
|
|
TOTAL IMPORTS |
NA |
2128.367 |
2232.694 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.91 |
3.85 |
2.42 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
375.000 |
491.012 |
875.896 |
|
Cash generated from operations |
(91.949) |
2191.926 |
622.739 |
|
Net cash flow from operating activity |
(5.081) |
226.794 |
616.239 |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2017 1ST
Quarter |
30.09.2017 2nd
Quarter |
31.12.2017 3rd
Quarter |
|
|
Unaudited
|
Unaudited
|
Unaudited
|
|
Net Sales |
2657.100 |
1609.900 |
1813.800 |
|
Total Expenditure |
2390.100 |
1388.800 |
1622.300 |
|
PBIDT (Excl OI) |
267.000 |
221.100 |
191.500 |
|
Other Income |
65.000 |
179.700 |
80.900 |
|
Operating Profit |
332.00 |
400.800 |
272.400 |
|
Interest |
67.300 |
53.400 |
44.300 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
264.700 |
347.400 |
228.100 |
|
Depreciation |
59.100 |
59.700 |
54.900 |
|
Profit Before Tax |
205.600 |
287.700 |
173.200 |
|
Tax |
48.300 |
67.200 |
56.100 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
157.300 |
220.500 |
117.100 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
157.300 |
220.500 |
117.100 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
34.01 |
32.00 |
34.44 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
10.73 |
11.41 |
10.60 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
49.24 |
32.88 |
28.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.42 |
0.36 |
0.29 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.32 |
0.22 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.49 |
0.53 |
0.58 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.57 |
0.69 |
0.85 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.75 |
0.66 |
0.80 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.68 |
0.74 |
0.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.82 |
2.17 |
2.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
7.62 |
4.25 |
2.85 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.38 |
3.30 |
2.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.15 |
6.36 |
4.39 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.03 |
1.07 |
1.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.35 |
0.37 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.53 |
0.52 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
38.79 |
41.46 |
46.60 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.03 |
1.07 |
1.03 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 240.90/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
86.663 |
86.663 |
86.663 |
|
Reserves & Surplus |
4680.804 |
5151.696 |
5810.644 |
|
Net worth |
4767.467 |
5238.359 |
5897.307 |
|
|
|
|
|
|
long-term borrowings |
1090.745 |
1356.591 |
645.249 |
|
Short term borrowings |
2071.524 |
1745.147 |
2341.082 |
|
Current Maturities of
Long term debt |
875.896 |
491.012 |
375.000 |
|
Total borrowings |
4038.165 |
3592.750 |
3361.331 |
|
Debt/Equity ratio |
0.847 |
0.686 |
0.570 |
%20-%20501899%2004-Apr-2018_files/image007.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
7349.673 |
7850.136 |
7853.020 |
|
|
|
6.809 |
0.037 |
%20-%20501899%2004-Apr-2018_files/image008.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
7349.673 |
7850.136 |
7853.020 |
|
Profit |
209.309 |
333.285 |
598.730 |
|
|
2.85% |
4.25% |
7.62% |
%20-%20501899%2004-Apr-2018_files/image009.gif)
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
86.663 |
86.663 |
|
(b) Reserves &
Surplus |
|
27073.440 |
25144.349 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
27160.103 |
25231.012 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
645.249 |
1356.591 |
|
(b) Deferred tax
liabilities (Net) |
|
141.144 |
45.647 |
|
(c) Other long term
liabilities |
|
16.253 |
17.423 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
802.646 |
1419.661 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2341.082 |
1745.147 |
|
(b) Trade payables |
|
620.020 |
721.470 |
|
(c) Other current
liabilities |
|
1400.318 |
1404.144 |
|
(d) Short-term provisions |
|
310.357 |
70.602 |
|
Total Current Liabilities
(4) |
|
4671.777 |
3941.363 |
|
|
|
|
|
|
TOTAL |
|
32634.526 |
30592.036 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4183.167 |
4057.584 |
|
(ii) Intangible Assets |
|
54.616 |
15.649 |
|
(iii) Capital
work-in-progress |
|
110.188 |
223.461 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
22703.681 |
21287.635 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
84.413 |
102.423 |
|
Total Non-Current Assets |
|
27136.065 |
25686.752 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3418.571 |
2935.924 |
|
(c) Trade receivables |
|
716.624 |
721.754 |
|
(d) Cash and cash
equivalents |
|
551.665 |
645.077 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
811.601 |
602.529 |
|
Total Current Assets |
|
5498.461 |
4905.284 |
|
|
|
|
|
|
TOTAL |
|
32634.526 |
30592.036 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
9539.959 |
9422.082 |
|
|
Other Income |
|
110.994 |
312.348 |
|
|
TOTAL |
|
9650.953 |
9734.430 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
4846.348 |
5180.476 |
|
|
Cost of Resale materials |
|
13.108 |
32.442 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
15.652 |
86.248 |
|
|
Excise Duty |
|
732.444 |
776.225 |
|
|
Employees benefits
expense |
|
767.982 |
687.783 |
|
|
Other expenses |
|
1993.026 |
1867.104 |
|
|
Exceptional Items |
|
(116.848) |
(123.292) |
|
|
TOTAL |
|
8251.712 |
8506.986 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1399.241 |
1227.444 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
341.411 |
403.416 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
1057.830 |
824.028 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
263.311 |
249.336 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
794.519 |
574.692 |
|
|
|
|
|
|
|
Less |
TAX |
|
241.395 |
(0.071) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
553.124 |
574.763 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
31.32 |
29.44 |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Loan from banks |
1781.835 |
715.830 |
|
|
|
|
|
Total |
1781.835 |
715.830 |
CORPORATE INFORMATION
Subject
a Public Limited Company domiciled and headquartered in India and incorporated
under the provisions of Companies Act 1956. The Registered office of the Company
is located at P.S.K Nagar, Rajapalayam - 626 108, Tamilnadu. The Company’s
shares are listed in BSE Limited and NSE Limited.
The
Company is engaged in manufacture of Fiber Cement (FC) sheets and Calcium
Silicate Boards (CSBs). The Company’s segments are Fiber Cement (FC) sheets and
Calcium Silicate Boards (CSBs), Textiles and power generation from wind mills.
The Company caters mainly to the domestic markets. The Company is also engaged
in sale of surplus electricity generated from its windmills after meeting its
captive requirements.
The
financial statements of the Company for the year were approved and adopted by
Board of Directors of the Company in their meeting dated 30-05-2017.
FUTURE OUTLOOK
Indian
rural economy has been under stress due to poor monsoon and draught in many
states in the earlier years resulting to slowdown of industry. With the thrust
given in the Union Budget 2017-18 for agriculture growth and good monsoon in
the last year we foresee revival of rural demand for their products.
The
investments in infrastructure by Government of India are expected to give a
boost to the construction activities. The moderate inflation will encourage
investments in housing sector. In the backdrop of demonetization and the
Government’s commitment to reforms and its initiatives relating to “Make in
India” and ease of doing business in organized sector are expected to make good
GDP growth. All these will positively impact the demand for Building Products
in future. As all their plants are fully equipped and modernized with
supporting logistics facilities, their Company will be able to take full
advantage of the economic momentum in the coming years.
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G49524846 |
100113300 |
The Federal Bank Limited |
24/03/2017 |
- |
- |
500000000.0 |
SVS Club Building, 61, Anna Salai, Mount RoadChennaiTN600002IN |
|
2 |
G44188787 |
100098424 |
HDFC BANK LIMITED |
15/03/2017 |
- |
- |
250000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WESTMUMBAIMH400013IN |
|
3 |
G10140820 |
100046396 |
YES BANK LIMITED |
10/05/2016 |
- |
- |
650000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMa400018IN |
|
4 |
C74594789 |
10610377 |
KOTAK MAHINDRA BANK LIMITED |
06/11/2015 |
- |
- |
300000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
5 |
C34735308 |
10533016 |
KOTAK MAHINDRA BANK LIMITED |
03/11/2014 |
- |
- |
200000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMH400051IN |
|
6 |
G04171534 |
10449412 |
ICICI BANK LIMITED |
20/08/2013 |
22/01/2016 |
- |
600000000.0 |
1, CENOTAPH ROADCHENNAITN600018IN |
|
7 |
C47401666 |
10182825 |
HDFC BANK LIMITED |
14/10/2009 |
05/06/2014 |
- |
50000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
8 |
G37421302 |
10034261 |
KOTAK MAHINDRA BANK LIMITED |
27/12/2006 |
16/01/2017 |
- |
400000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
9 |
C46141941 |
10031468 |
TAMILNAD MERCANTILE BANK LIMITED |
18/12/2006 |
05/06/2014 |
- |
100000000.0 |
391, Tenkasi RoadRajapalayamTN626117IN |
|
10 |
C46145900 |
80015594 |
IDBI Bank Limited |
09/08/2004 |
05/06/2014 |
- |
450000000.0 |
Saidapet Branch115, Anna Salai, SaidapetChennaiTN600015IN |
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees given by the bankers on behalf of company |
40.220 |
45.608 |
|
|
|
|
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 31ST DECEMBER 2017
(INR In Million)
|
Particulars |
Quarter Ended |
Nine Months ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
|
|
|
|
Income from Operations |
|
|
|
|
a) Revenue from Operation |
1813.800 |
1609.900 |
6080.800 |
|
b) Other Income |
80.900 |
179.700 |
325.600 |
|
Total Income from
Operations (net) |
1894.700 |
1789.600 |
6406.400 |
|
Expenditure |
|
|
|
|
Cost of Material Consumed |
957.700 |
915.800 |
3055.000 |
|
Purchase of Stock in
trade |
2.600 |
0.800 |
4.000 |
|
Changes in inventories of
Finished Goods, Work-in-progress and Stock in trade |
(50.800) |
(165.300) |
(9.500) |
|
Excise duty on sale of
goods |
-- |
-- |
267.800 |
|
Employees benefit
expenses |
194.400 |
174.700 |
549.400 |
|
Finance Cost |
44.300 |
53.400 |
165.000 |
|
Depreciation and
amortisation expense |
54.900 |
59.700 |
173.700 |
|
Other expenses |
518.400 |
462.800 |
1534.500 |
|
Total Expenses |
1721.500 |
1501.900 |
5739.900 |
|
Profit /(Loss) before tax |
173.200 |
287.700 |
666.500 |
|
Tax expense |
|
|
|
|
Current
Tax |
24.200 |
51.000 |
111.300 |
|
Deferred
Tax |
48.500 |
57.900 |
148.300 |
|
MAT
Credit entitlement |
(16.600) |
(41.700) |
(88.000) |
|
Net
Profit / (Loss) after tax |
117.100 |
220.500 |
494.900 |
|
Other Comprehensive
Income |
(8.700) |
14.000 |
26.700 |
|
Total
Comprehensive Income for the period |
108.400 |
234.500 |
521.600 |
|
|
|
|
|
|
Paid-up
equity share capital (Face Value of Rs. 10 per share) |
86.700 |
86.700 |
86.700 |
|
Other Equity |
|
|
|
|
Basic
Earning Per Share |
1.35 |
2.54 |
5.71 |
|
Diluted
Earning Per Share |
1.35 |
2.54 |
5.71 |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER ENDED 31.12.2017
(INR In Million)
|
Sr. No. |
Particulars |
Quarter Ended |
Quarter Ended |
Nine Months Ended |
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
||
|
|
|
Unaudited |
||
|
A |
Segment Revenue |
|
|
|
|
|
a) Building Products |
1480.000 |
1284.000 |
5100.500 |
|
|
b) Textiles |
315.800 |
262.800 |
840.700 |
|
|
c) Windmillls |
35.200 |
71.200 |
159.800 |
|
|
d) Unallocated |
37.900 |
38.500 |
110.100 |
|
|
Total |
1868.900 |
1656.500 |
6211.100 |
|
|
|
|
|
|
|
|
Less: Inter-segment
Revenue |
55.100 |
46.600 |
130.300 |
|
|
Net Sales/Income from Operations |
1813.800 |
1609.900 |
6080.800 |
|
|
|
|
|
|
|
B |
Segment Results |
|
|
|
|
|
Profit/(Loss) (Before Tax
and Interest) For each Segment |
|
|
|
|
|
a) Building Products |
52.200 |
80.300 |
277.400 |
|
|
b) Textiles |
31.400 |
24.900 |
67.400 |
|
|
c) Windmillls |
21.900 |
61.500 |
120.100 |
|
|
d) Unallocated |
-- |
-- |
-- |
|
|
Total |
105.500 |
166.700 |
464.900 |
|
|
|
|
|
|
|
|
Less: Finance Cost |
44.300 |
53.400 |
165.000 |
|
|
Add :Other Net
Unallocable Income / (Expenses) |
112.000 |
174.400 |
366.600 |
|
|
Total
Profit Loss Before Taxation |
173.200 |
287.700 |
666.500 |
|
|
|
|
|
|
|
C |
Capital Employed (Segment Assets - Segment
Liabilities) |
|
|
|
|
|
a) Building Products |
4239.500 |
4368.600 |
4239.500 |
|
|
b) Textiles |
967.400 |
916.000 |
967.400 |
|
|
c) Windmillls |
181.800 |
205.000 |
181.800 |
|
|
d) Unallocated |
1030.200 |
820.900 |
1030.200 |
|
|
Total
|
6418.900 |
6310.500 |
6418.900 |
FIXED ASSETS
- Land –
Freehold
- Land –
Leasehold
- Buildings
- Railway
Siding
- Plan and
Machinery
- Electrical
Machinery
- Furniture
- Office
Equipment
- Vehicles
- 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 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
|
INR |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.