|
|
|
MIRA INFORM REPORT
|
Report No. : |
502305 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN TIN WORKS LIMITED |
|
|
|
|
Registered
Office : |
426, DLF Tower -A, Jasola, New Delhi -110025 |
|
Tel. No.: |
91-11-49998888 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.12.1958 |
|
|
|
|
Com. Reg. No.: |
55-003006 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 103.997
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27109DL1958PLC003006 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAACH2597Q1ZY 06AAACH2597Q1Z0 [Sonipat] |
|
|
|
|
TIN No.: |
07020049349 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH2597Q |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Tin Cans, Printed / Lacquered Sheets, Components and Trading of Tin Plates. [Registered Activity] |
|
|
|
|
No. of Employees
: |
465 (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 |
|
Maximum Credit Limit : |
USD 3653700 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was
incorporated in the year 1958 and it is engaged in manufacturing of tins
cans, printed/lacquered sheets, components. It is also a trades in Tin
Plates. As per
financials of March 2017, the company has registered decline in its revenue
as compared to its previous year’s revenue and has reported average profit
margin. Rating
takes into consideration the company’s long established track record of
business operations marked by healthy net worth base along with strong debt
coverage indicators and good liquidity position. Raring
also takes into account the established market position in tin can
manufacturing industry along with extensive experienced of its promoters and
its reputed clientele with whom the company has long association. Share are
quoted high on Stock Exchanges. (Share are traded at a price of INR 92.80
against its face value of INR 10.) However,
rating strength is partially offset by threat from its product’s01
substitutes such as flexible forms of packaging along with susceptible to the
prices of key raw material and foreign exchange rates. Payments
terms seems to be regular. In view
of aforesaid, the company can be considered for good 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
|
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 |
Long Term Rating=A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
25.08.2017 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating=A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
25.08.2017 |
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 of 07.04.2018.
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.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-130-2475771/ 11-49998888]
[Given number 126475771/
126475770 incorrect number]
LOCATIONS
Registered/ Corporate Office :
|
426, DLF Tower -A, Jasola, New Delhi -110025, India |
|
Tel. No.: |
91-11-49998888 |
|
Fax No.: |
91-11-49998822/ 49998889 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Village & Post Office-Bhigan, Dhatoori Road, Tehsil
Ganour, Murthal, District Sonepat-131039, Haryana, India |
|
Tel. No.: |
91-130-2475771-73 |
|
|
|
|
Branch Offices : |
· KN/B, 16 & C-10, Gali No. 10 Anand Parbat Indl. Area, New Delhi, India ·
816, Tulsiani Chambers Nariman Point, Mumbai –
400021, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Sanjay Bhatia |
|
Designation : |
Managing Director |
|
Address : |
A – 155, New Friends Colony, New Delhi-110025, India |
|
Date of Birth/Age : |
10.03.1952 |
|
Qualification : |
B. Com, LLB |
|
Expertise : |
Business and administration, Legal |
|
Date of Appointment : |
07.08.1992 |
|
DIN No.: |
00080533 |
|
|
|
|
Name : |
Mr. Vijay Kumar Bhatia |
|
Designation : |
Wholetime Director |
|
Address : |
22, Seeta Mahal, 3 flr, Kambal Hill Bomanji Petit Road,
Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1942 |
|
Qualification : |
M Com |
|
Expertise : |
Business and administration |
|
Date of Appointment : |
04.09.1978 |
|
DIN No.: |
00088762 |
|
|
|
|
Name : |
Mr. Ashok Kumar Bhatia |
|
Designation : |
Wholetime Director |
|
Address : |
8, Sri Ram Road, Civil Lines, Delhi-110054, India |
|
Date of Birth/Age : |
02.06.1945 |
|
Qualification : |
B. A. |
|
Expertise : |
Business and administration |
|
Date of Appointment : |
04.09.1978 |
|
DIN No.: |
00081730 |
|
|
|
|
Name : |
Mr. Nand Parkash Sahni |
|
Designation : |
Director |
|
Address : |
K.N. 239, Westend Marg Mehrauli, Badarpur Road, (PS)
Saidulazab, New Delhi- 110030, India |
|
Date of Birth/Age : |
15.04.1941 |
|
Qualification : |
MA, LLB, MSC (University of BATH,UK) |
|
Expertise : |
Retired IRS, Direct Taxation |
|
Date of Appointment : |
23.10.2004 |
|
DIN No.: |
00037478 |
|
|
|
|
Name : |
Mr. Ramesh Kumar Jain |
|
Designation : |
Director |
|
Address : |
459/B/2 Shalimar Park Dalhai Mohalla Bhola Nath Nagar, Delhi-110032, India |
|
Date of Birth/Age : |
07.12.11957 |
|
Qualification : |
Chartered Accountants |
|
Expertise : |
Accounts, Auditing, Taxation, Corporate laws |
|
Date of Appointment : |
30.12.2005 |
|
DIN No.: |
00254518 |
|
|
|
|
Name : |
Mr. Maharaj Krishen Zutshi |
|
Designation : |
Director |
|
Address : |
Flat No 4094, Joy Apptts. Plot No 2, Sector-2, Dwarka, New Delhi-110075, India |
|
Date of Birth/Age : |
23.11.1942 |
|
Qualification : |
B.A., LLB |
|
Expertise : |
Ex Chairman of CBEC, Retired from Indian Customs and Central Excise Services |
|
Date of Appointment : |
28.07.2006 |
|
DIN No.: |
00638383 |
|
|
|
|
Name : |
Mr. Prit Pal Singh |
|
Designation : |
Wholetime Director |
|
Address : |
161, Gopal Nagar, Ghaziabad-201001, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.05.1962 |
|
Qualification : |
B.SC, LLB & Post Graduate Diploma In Human Resources Management |
|
Expertise : |
Compliances and Human Resources Management |
|
Date of Appointment : |
12.08.2011 |
|
DIN No.: |
00658785 |
|
|
|
|
Name : |
Mr. Bihari Lal Khurana |
|
Designation : |
Director |
|
Address : |
H. No. E-150, Forest Lane Sainik Farm, New Delhi-110062, India |
|
Date of Birth/Age : |
01.11.1925 |
|
Qualification : |
B.A., CAIIG |
|
Expertise : |
Ex Chairman of New Bank of India, Banking & Finance Sector |
|
Date of Appointment : |
30.12.2005 |
|
DIN No.: |
00671592 |
|
|
|
|
Name : |
Mrs. Aarti Sawhney |
|
Designation : |
Director |
|
Address : |
Flat No. 3041 Tower 3, Ats One Hamlet, Sector 104, Noida-201304, Uttar Pradesh, India |
|
Date of Birth/Age : |
24.10.1949 |
|
Qualification : |
M.A. |
|
Expertise : |
Ex Chief Commissioner of Income Tax, Retired IRS, Direct Tax and Administration |
|
Date of Appointment : |
28.05.2014 |
|
DIN No.: |
06869549 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Kumar Mittal |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
3-E, Kamla Nagar, Delhi-110007, India |
|
Date of Appointment : |
28.05.2014 |
|
PAN No.: |
AALPM8155H |
|
|
|
|
Name : |
Mr. Rajat Pathak |
|
Designation : |
Company Secretary |
|
Address : |
B - 413 Nirman Vihar, Delhi-110092, India |
|
Date of Appointment : |
28.03.2008 |
|
PAN No.: |
AADPP5530H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Promoter & Promoter Group |
4207804 |
40.46 |
|
Public |
6191879 |
59.54 |
|
|
|
|
|
Total |
10399683 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category
of shareholder |
No.
of fully paid up equity 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 |
42,07,804 |
40.46 |
|
|
ASHOK KUMAR BHATIA |
5,95,450 |
5.73 |
|
|
ATIT BHATIA |
2,25,050 |
2.16 |
|
|
EKTA BHATIA |
1,11,500 |
1.07 |
|
|
GAURAV BHATIA |
1,73,579 |
1.67 |
|
|
MANJU BHATIA |
2,54,400 |
2.45 |
|
|
NEHA BHATIA |
15,000 |
0.14 |
|
|
PARAS BHATIA |
1,38,630 |
1.33 |
|
|
PARIKSHIT BHATIA |
1,30,180 |
1.25 |
|
|
PAYAL BHATIA |
1,04,000 |
1.00 |
|
|
ROOPAM BHATIA |
29,475 |
0.28 |
|
|
SAKET BHATIA |
2,26,900 |
2.18 |
|
|
SANJAY BHATIA |
13,80,169 |
13.27 |
|
|
SAREETA BHATIA |
2,98,500 |
2.87 |
|
|
USHA BHATIA |
2,03,702 |
1.96 |
|
|
VIJAY KUMAR BHATIA |
3,21,269 |
3.09 |
|
|
Sub Total A1 |
42,07,804 |
40.46 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
42,07,804 |
40.46 |
|
Statement showing shareholding pattern of the Public shareholder
|
Category
& Name of the Shareholders |
No.
of fully paid up equity shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0 |
0.00 |
|
|
Insurance
Companies |
1022000 |
9.83 |
|
|
GENERAL INSURANCE CORPORATION OF INDIA |
500000 |
4.81 |
|
|
UNITED INDIA INSURANCE COMPANY LIMITED |
522000 |
5.02 |
|
|
Sub Total B1 |
1022000 |
9.83 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR 0.200 Million |
2497418 |
24.01 |
|
|
Individual share capital in excess of INR 0.200 Million |
1361580 |
13.09 |
|
|
SUBRAMANIAN P |
425590 |
4.09 |
|
|
Any Other
(specify) |
1310881 |
12.61 |
|
|
Bodies Corporate |
797108 |
7.66 |
|
|
Trusts |
3 |
0.00 |
|
|
Overseas corporate bodies |
500 |
0.00 |
|
|
Clearing Members |
125463 |
1.21 |
|
|
NRI – Non- Repat |
19793 |
0.19 |
|
|
NRI – Repat |
73725 |
0.71 |
|
|
HUF |
294289 |
2.83 |
|
|
Sub Total B3 |
5169879 |
49.71 |
|
|
B=B1+B2+B3 |
6191879 |
59.54 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Tin Cans, Printed / Lacquered Sheets, Components and Trading of Tin Plates. [Registered Activity] |
|
|
|
|
Products/ Services : |
· Tin Cans, Printed / Lacquered Sheets ·
Components |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
|
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No. of Employees : |
465 (Approximately) |
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|
|
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|
Bankers : |
· Punjab National Bank · State Bank of India · Standard Chartered Bank · Kotak Mahindra Bank · HDFC Bank Yes Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Financial Institution : |
Tata Capital Financial Services Limited |
|
|
|
|
Auditors : |
|
|
Name : |
M. L. Puri and Company Chartered Accountants |
|
Address : |
407, New Delhi House Barakkhamba Road, New Delhi-110001,
India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
K.S. Bhatnagar and Associates Cost and Management Consultants |
|
Address : |
A-12-A, DDA Flats, Munirka New Delhi – 110067, India |
|
|
|
|
Secretarial Auditor
: |
|
|
Name : |
Gupta Vinod and Company Company Secretaries |
|
Address : |
107, 1st Floor, C-240, Pandav Nagar, Delhi-110092, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Party where control exists : |
· Hi-tech Surfactants Private Limited · Parmanand Vijay Kumar · Vijay Brothers · Innopac · Innopac Containers Private Limited · Artistique Designer Products · Petainer Innopac Packaging Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12250000 |
Equity Shares |
INR 10/- each |
INR 122.500 Million |
|
250000 |
12% Redeemable Cumulative Preference Shares |
INR 10/- each |
INR 2.500 Million |
|
|
Total |
|
INR 125.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10399683 |
Equity Shares |
INR 10/- each |
INR 103.997
Million |
|
|
|
|
|
Details of
Shareholders holding more than 5% shares in the company
|
Name of
Shareholders |
As at 31 March 2017 |
|
|
|
No. of Shares held |
% of Holding |
|
Religare Finvest Limited |
745292 |
7.17 |
|
Stemcor A. G |
1000000 |
9.62 |
|
Sanjay Bhatia |
1380169 |
13.27 |
|
Ashok Kumar Bhatia |
595450 |
5.73 |
|
United India Insurance Co. Ltd |
522000 |
5.02 |
1. a) The company has issued only one class of shares referred to as Equity Shares habing a per value of INR 10/-. All equity shares carry one vote per share without restrictions and are entitled to dividend, as and when declared. All shares rank equally with regard to the company's residual assets.
1. b) The amount of per share dividend recognised as distributions to equity shareholders for the year ended March 31,2017 is INR 1.00 (Previous year: INR 1.00), subject to approval by shareholders in the ensuing annual general meeting.
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 |
103.997 |
103.997 |
103.997 |
|
(b) Reserves & Surplus |
1174.798 |
1116.065 |
988.356 |
|
(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) |
1278.795 |
1220.062 |
1092.353 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
180.098 |
281.605 |
253.232 |
|
(b) Deferred tax liabilities (Net) |
77.524 |
76.923 |
71.296 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
257.622 |
358.528 |
324.528 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
492.367 |
662.870 |
718.065 |
|
(b)
Trade payables |
354.555 |
264.049 |
418.355 |
|
(c)
Other current liabilities |
194.227 |
159.694 |
122.145 |
|
(d)
Short-term provisions |
12.517 |
14.617 |
15.587 |
|
Total
Current Liabilities (4) |
1053.666 |
1101.230 |
1274.152 |
|
|
|
|
|
|
TOTAL |
2590.083 |
2679.820 |
2691.033 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
823.750 |
850.266 |
712.240 |
|
(ii)
Intangible Assets |
0.368 |
0.333 |
0.248 |
|
(iii)
Capital work-in-progress |
1.942 |
13.141 |
66.630 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.593 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
16.766 |
25.709 |
26.376 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
842.826 |
889.449 |
806.087 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
32.853 |
|
(b)
Inventories |
511.936 |
412.514 |
521.052 |
|
(c)
Trade receivables |
916.894 |
1010.029 |
1022.792 |
|
(d)
Cash and cash equivalents |
81.142 |
133.859 |
119.050 |
|
(e)
Short-term loans and advances |
216.951 |
209.812 |
160.350 |
|
(f)
Other current assets |
20.334 |
24.157 |
28.849 |
|
Total
Current Assets |
1747.257 |
1790.371 |
1884.946 |
|
|
|
|
|
|
TOTAL |
2590.083 |
2679.820 |
2691.033 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations [Net] |
2673.538 |
2979.500 |
3176.808 |
|
|
|
Other Income |
34.717 |
27.496 |
47.902 |
|
|
|
TOTAL |
2708.255 |
3006.996 |
3224.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1496.140 |
1633.224 |
1743.417 |
|
|
|
Purchases of Stock-in-Trade |
523.403 |
615.647 |
824.752 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(70.876) |
50.777 |
(72.437) |
|
|
|
Employees benefits expense |
236.543 |
204.927 |
190.266 |
|
|
|
Other expenses |
249.065 |
232.166 |
229.352 |
|
|
|
Exceptional Items |
0.000 |
-91.730 |
0.000 |
|
|
|
TOTAL |
2434.275 |
2645.011 |
2915.350 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
273.980 |
361.985 |
309.360 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
89.647 |
94.826 |
104.476 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
184.333 |
267.159 |
204.884 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
79.633 |
78.556 |
72.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
104.700 |
188.603 |
132.024 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.450 |
48.377 |
46.425 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
71.250 |
140.226 |
85.599 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Goods on FOB Basis |
523.983 |
718.825 |
671.114 |
|
|
TOTAL EARNINGS |
523.983 |
718.825 |
671.114 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
280.622 |
413.849 |
777.563 |
|
|
|
Spares |
8.823 |
9.468 |
7.510 |
|
|
|
Capital Goods |
20.299 |
26.737 |
19.666 |
|
|
TOTAL IMPORTS |
309.744 |
450.054 |
804.739 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
6.85 |
13.48 |
8.23 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
100.254 |
103.163 |
70.316 |
|
|
|
|
|
|
Cash generated from operations |
372.378 |
172.135 |
93.503 |
|
|
|
|
|
|
Net flow from Operating Activities |
336.549 |
127.185 |
50.491 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
908.680 |
737.090 |
775.560 |
|
Total Expenditure |
849.230 |
664.740 |
683.850 |
|
PBIDT (Excl OI) |
59.450 |
72.350 |
91.710 |
|
Other Income |
4.110 |
7.040 |
9.480 |
|
Operating Profit |
63.560 |
79.390 |
101.190 |
|
Interest |
21.150 |
27.550 |
23.750 |
|
Exceptional Items |
0.000 |
0.000 |
26.260 |
|
PBDT |
42.410 |
51.840 |
103.700 |
|
Depreciation |
19.330 |
19.770 |
20.110 |
|
Profit Before Tax |
23.080 |
32.070 |
83.590 |
|
Tax |
8.960 |
12.160 |
32.010 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
14.120 |
19.910 |
51.580 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
14.120 |
19.910 |
51.580 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
125.18 |
123.73 |
117.51 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.92 |
2.95 |
3.11 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
64.08 |
42.86 |
59.46 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.54 |
0.88 |
0.59 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.33 |
0.42 |
0.40 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.52 |
0.55 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.60 |
0.86 |
0.95 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.82 |
0.90 |
1.17 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.65 |
0.71 |
0.71 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.06 |
3.82 |
2.96 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.67 |
4.71 |
2.69 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.75 |
5.23 |
3.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.57 |
11.49 |
7.84 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.66 |
1.63 |
1.48 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.17 |
1.25 |
1.07 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.49 |
0.46 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.43 |
10.07 |
10.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.66 |
1.63 |
1.48 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 92.80/- |
FINANCIAL ANALYSIS
[all figures are
in 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 |
103.997 |
103.997 |
103.997 |
|
Reserves & Surplus |
988.356 |
1116.065 |
1174.798 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1092.353 |
1220.062 |
1278.795 |
|
|
|
|
|
|
long-term borrowings |
253.232 |
281.605 |
180.098 |
|
Short term borrowings |
718.065 |
662.870 |
492.367 |
|
Current Maturities of Long
term debt |
70.316 |
103.163 |
100.254 |
|
Total
borrowings |
1041.613 |
1047.638 |
772.719 |
|
Debt/Equity
ratio |
0.954 |
0.859 |
0.604 |
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 |
3176.808 |
2979.500 |
2673.538 |
|
|
|
-6.211 |
-10.269 |
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 |
3176.808 |
2979.500 |
2673.538 |
|
Profit |
85.599 |
140.226 |
71.250 |
|
|
2.69% |
4.71% |
2.67% |
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G55120703 |
100125862 |
Punjab National Bank |
04/08/2017 |
- |
- |
2850000.0 |
Mohan NagarGhaziabadGhaziabadUP201007IN |
|
2 |
G43964147 |
100097814 |
Punjab National Bank |
11/05/2017 |
- |
- |
1550000.0 |
Mohan NagarGhaziabadGhaziabadUP201007IN |
|
3 |
G43963974 |
100097813 |
Punjab National Bank |
20/04/2017 |
- |
- |
1070000.0 |
Mohan NagarGhaziabadGhaziabadUP201007IN |
|
4 |
G48289094 |
100109829 |
YES BANK LIMITED |
04/02/2017 |
- |
- |
150000000.0 |
9TH FLOOR, NEHRU CENTREDISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN |
|
5 |
G48288419 |
100109539 |
YES BANK LIMITED |
04/02/2017 |
- |
- |
100000000.0 |
9TH FLOOR, NEHRU CENTREDISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN |
|
6 |
G13684618 |
100053092 |
PUNJAB NATIONAL BANK |
31/08/2016 |
- |
- |
1660000.0 |
MOHAN NAGARGHAZIABADGHAZIABADUP201007IN |
|
7 |
G06182166 |
100034528 |
PUNJAB NATIONAL BANK |
09/06/2016 |
- |
- |
950000.0 |
MOHAN AGARGHAZIABADGHAZIABADUP201007IN |
|
8 |
C71990402 |
10605833 |
KOTAK MAHINDRA BANK LIMITED |
07/12/2015 |
- |
- |
60000000.0 |
Kotak Aerocity, 1st Floor, Asset Area 9, IBISCommercial Block, Hospitality District, AerocityNew DelhiDL110037IN |
|
9 |
C40131294 |
10542425 |
PUNJAB NATIONAL BANK |
20/12/2014 |
- |
- |
700000.0 |
MOHAN NAGARGHAZIABADGHAZIABADUP201007IN |
|
10 |
C77704757 |
10533931 |
KOTAK MAHINDRA BANK LIMITED |
28/11/2014 |
21/01/2016 |
- |
50000000.0 |
Kotak Aerocity, 1st Floor, Asset Area 9, IBISCommercial Block, Hospitality District, AerocityNew DelhiDL110037IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Tata Capital Financial Services Limited The above loan is against bill discounting of suppliers
gauranteed by Directors namely S/ Sh. Vijay Kumar Bhatia, Ashok Kumar Bhatia,
and Sanjay Bhatia.) |
117.625 |
107.626 |
|
|
|
|
|
Total |
117.625 |
107.626 |
COMPANY OVERVIEW
Hindustan Tin Works Limited ("the company") is a public company incorporated on 11th December, 1958 under the Companies Act, 1956; equity shares of the company are listed on Bombay Stock Exchange, Calcutta Stock Exchange and Delhi Stock Exchange. The company is engaged mainly in the business of Manufacturing of Tin Cans, Printed / Lacquered Sheets, Components and trading in Tin Plates.
OPERATIONS
The Company could achieve turnover of INR 2673.538 Million as against the previous year's turnover of INR 2979.500 Million i.e. Decrease of INR 305.962 Million (10.27%). The export sale of the Company has been decreased from INR 727.393 Million in previous year to INR 529.781 Million in current year i.e. Decrease of Rs. 1976.12 lacs (27.17%).
The Company has achieved PAT of INR 71.250 Million as against the previous year of INR 140.226 Million i.e. Decrease of INR 68.976 Million (49.19%).
Previous year figure of PAT includes INR 91.730 Million as Income from Exceptional Items.
THE MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
The global economies continued to witness slow growth, subdued investment during the current year as well. The below par performance of global economy was reflected in a continued slowdown in growth in most emerging and developing economies. India, however, was one of the fastest growing large economy in the world, with a currency that performed better than most ever emerging market currency.
Consumer spending remained subdued during the early part of the year impacted by 2 years of drought. The gradual recovery of the market was temporarily impacted by adverse liquidity conditions post demonatisation. There was a significant upturn in commodity prices after a year of deflation.
Given the backdrop of slow market growth, volatile input cost environment, Anti Dumping Duty and heightened competitive intensity, the operating environment for your Company during the year continued to be challenging.
As per IMF, India's growth is expected to rebound to 7.2 per cent in the 2017-18 fiscal and 7.7 per cent in 2018-19 after disruptions caused by demonetization.
PRODUCT WISE
PERFORMANCE
The Company had been mainly focusing on food products and now gradually expanding its base in non food sector also. In addition Company is also developing new innovative products for domestic and global market.
OUTLOOK
The outlook of the Company seems to be progressive. The management of the Company is engaged in the task of reducing overheads and other costs. Company has a vision to consolidate its position as leader in metal packaging segment.
FINANCIAL PERFORMANCE
WITH RESPECT TO OPERATIONAL PERFORMANCE.
Because of fierce competition & extremely challenging domestic business environment, the Company delivers and achieves INR 2673.538 Million as against the previous year's turnover of INR 2979.500 Million i.e. Decrease of INR 305.962 Million (10.27%). The Export Sales has been decreased from INR 727.393 Million in previous year to INR 529.781 Million in current year i.e. Decrease of INR 197.612 Million (27.17%).
The Company has achieved PAT of INR 71.250 Million as against the previous year of INR 140.226 Million i.e. Decrease of INR 68.976 Million (49.19%).
Previous year figure of PAT includes INR 91.730 Million as Income from Exceptional Item.
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR IN MILLION)
|
Particulars |
Quarter ended |
Nine months ended |
|
|
|
31.12.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
INCOME FROM OPERATIONS |
|
|
|
|
Revenue from operations |
775.555 |
737.090 |
2421.329 |
|
Other Income |
9.481 |
7.041 |
20.632 |
|
Total
Income |
785.036 |
744.131 |
2441.961 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
420.560 |
470.911 |
1362.100 |
|
Purchases of Stock-in-Trade |
155.656 |
134.849 |
415.601 |
|
Changes in inventories of finished goods and
work-in-progress |
(26.281) |
(39.966) |
15.149 |
|
Excise duty on sales |
0.000 |
0.258 |
53.705 |
|
Employee benefits expense |
62.021 |
54.241 |
174.290 |
|
Finance Costs |
23.752 |
27.552 |
72.461 |
|
Depreciation and Amortization expenses |
20.107 |
19.773 |
59.214 |
|
Other Expenditure |
71.887 |
44.448 |
176.965 |
|
Total
Expenses |
727.702 |
712.066 |
2329.485 |
|
Profit/(Loss) before Exceptional Items and tax |
57.334 |
32.065 |
112.476 |
|
Exceptional Items |
26.260 |
--- |
26.260 |
|
Profit / (Loss) before Tax |
83.594 |
32.065 |
138.736 |
|
Tax Expense |
|
|
|
|
Current
tax |
31.024 |
11.270 |
50.694 |
|
Deferred
tax |
0.990 |
0.890 |
2.440 |
|
Total |
32.014 |
12.160 |
53.134 |
|
Profit/ loss for the period for continuing
operation |
51.580 |
19.905 |
85.602 |
|
Profit/ loss from discontinued operations |
--- |
--- |
--- |
|
Tax expenses of discontinued operations |
--- |
--- |
--- |
|
Profit/ loss from discontinued operations
after tax |
--- |
--- |
--- |
|
Profit/ loss for the period |
51.580 |
19.905 |
85.602 |
|
Other comprehensive income |
0.900 |
(0.133) |
0.767 |
|
Total comprehensive income after tax |
52.480 |
19.772 |
86.369 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
103.997 |
103.997 |
103.997 |
|
Earnings per Share (EPS) of INR 10/- each Not annualised |
|
|
|
|
Basic
and Diluted |
5.05 |
1.90 |
8.30 |
Notes:
1. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on 14th February, 2018.
2. Limited Review as required under Listing Regulations, 2015 has been carried
out by the Statutory Auditors.
3. The Company has adopted Indian Accounting Standards (“Ind AS”) from 1st
April, 2017 with a transition date of 1st April 2016 and accordingly the
financial results for the quarter ended 31st December, 2017 are in compliance
with the Indian Accounting Standards (Ind-AS) notified by the Ministry of
Corporate Affairs. The figures for quarter ended 31th December, 2016 are also
Ind AS compliant. These have however, not been subjected to limited review.
Although, the management has exercised necessary due diligence to ensure that
the financial results provide a true and fair view of the state of the
Company's affairs.
4. Reconciliation of net profit as previously reported on account of transition
from the previous Indian GAAP to Ind AS for the quarter and half year ended
December 31, 2016:
|
Particulars |
Quarter
ended |
Nine month ended |
|
|
31.12.2016 (Unaudited) |
31.12.2016 (Unaudited) |
|
Net profit for the quarter and half year under previous Indian GAAP |
13.627 |
57.967 |
|
Add/(Less):
Adjustments |
|
|
|
Actuarial
(gain) on defined benefit plan reclassified to other comprehensive Income |
(0.357) |
(1.071) |
|
Tax impact on above adjustments |
0.124 |
0.371 |
|
Net profit under Ind AS |
13.394 |
57.267 |
|
Other Comprehensive Income (net of tax) |
0.233 |
0.700 |
|
Net
Comprehensive Income after tax |
13.627 |
57.967 |
5. After implementation of Goods and Service tax (GST) with effect from 1st July,
2017, Revenue from Opreations is required to be disclosed net of GST in
accordance with the requirements of Ind AS. Accordingly, the Revenue from
Opreations for the quarter and nine months ended 31th December 2017 are not
comparable with the corresponding previous quarter / half year presented in the
financial results which are reported inclusive of Excise duty.
6. The Statement does not include Ind - AS compliant result for the previous
year ended March 31, 2017 as the same is not mandatory as per SEBI 's circular
dated July 5, 2016.
7. Previous year's corresponding figures have been regrouped / rearranged
wherever found necessary.
8. The Company operations comprise two segments i) Primary Segment- Business
Segment and ii) Secondary Segment- Geographical Segment:
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(INR In Million)
|
Particulars |
Quarter
ended |
Nine months ended |
|
|
|
31.12.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
1.
Segment Revenue |
|
|
|
|
Primary Segment
[Business] |
|
|
|
|
a) Manufacturing |
610.662 |
608.138 |
1991.758 |
|
b) Trading |
164.893 |
128.952 |
429.571 |
|
c)
Unallocated |
35.741 |
7.041 |
46.892 |
|
Total |
811.296 |
744.131 |
2468.221 |
|
2.
Segment Results |
|
|
|
|
Profit/ (loss)
before interest and tax |
|
|
|
|
a) Manufacturing |
66.161 |
48.944 |
152.389 |
|
b) Trading |
6.617 |
3.632 |
13.089 |
|
c)
Unallocated |
35.741 |
7.041 |
46.892 |
|
Total |
108.519 |
59.617 |
212.370 |
|
Less: Interest |
23.752 |
27.552 |
72.461 |
|
Other
un-allocable expenditure net off un-allocable other operating income |
--- |
--- |
--- |
|
Total Profit
Before Tax |
84.767 |
32.065 |
139.909 |
|
3.
Segment Assets |
|
|
|
|
a) Manufacturing |
1871.660 |
1888.128 |
1871.660 |
|
b) Trading |
609.864 |
589.314 |
609.864 |
|
c)
Unallocated |
338.950 |
323.003 |
338.950 |
|
Total Assets |
2820.474 |
2800.445 |
2820.474 |
|
4.
Segment Liabilities |
|
|
|
|
a) Manufacturing |
1089.676 |
1164.795 |
1089.676 |
|
b) Trading |
247.473 |
213.342 |
247.473 |
|
c)
Unallocated |
118.161 |
109.624 |
118.161 |
|
Total Liabilities |
1455.310 |
1487.761 |
1455.310 |
|
1. Segment
Revenue |
|
|
|
|
Secondary
Segment [Geographical] |
|
|
|
|
a) Domestic |
565.058 |
571.837 |
1921.893 |
|
b) Export [Manufacturing] |
210.497 |
165.253 |
499.436 |
|
c)
Unallocated |
35.741 |
7.041 |
46.892 |
|
Total |
811.296 |
744.131 |
2468.221 |
|
2. Segment
Results |
|
|
|
|
Profit/ (loss)
before interest and tax |
|
|
|
|
a) Domestic |
35.552 |
33.538 |
94.708 |
|
b) Export [Manufacturing] |
37.226 |
19.038 |
70.770 |
|
c)
Unallocated |
35.741 |
7.041 |
46.892 |
|
Total |
108.519 |
59.617 |
212.370 |
|
Less: Interest |
23.752 |
27.552 |
72.461 |
|
Other un-allocable
expenditure net off un-allocable other operating income |
--- |
--- |
--- |
|
Total Profit
Before Tax |
84.767 |
32.065 |
139.909 |
|
3. Segment
Assets |
|
|
|
|
a) Domestic |
1918.364 |
2084.520 |
1918.364 |
|
b) Export [Manufacturing] |
563.160 |
392.922 |
563.160 |
|
c)
Unallocated |
338.950 |
323.003 |
338.950 |
|
Total Assets |
2820.474 |
2800.445 |
2820.474 |
|
4. Segment
Liabilities |
|
|
|
|
a) Domestic |
917.140 |
1069.493 |
917.140 |
|
b) Export [Manufacturing] |
420.009 |
308.644 |
420.009 |
|
c)
Unallocated |
118.161 |
109.624 |
118.161 |
|
Total Liabilities |
1455.310 |
1487.761 |
1455.310 |
CONTINGENT
LIABILITIES: [As on 31.03.2017]
(a) In respect of Bank Guarantee outstanding as on 31st March, 2017 amounting to INR 3.281 Million (previous year INR Nil).
(b) Compensation suit filed under section 12B of MRTP Act by M/s Himalaya International Ltd. has been decided in favour of the complainant by the MRTP Commission (now competition appellate tribunal) vide order dated 07.07.2008. The total amount involved is INR 34.975 Million. The company has filed an appeal before the Hon'ble Delhi High Court for the relief and Hon'ble High Court has remanded back the matter to Competition appellate tribunal and the tribunal has passed judgment in favour of the company. M/s Himalayan International Limited has filed an appeal before Appellate Tribunal for reviewing the decision now appellate tribunal has dismissed the case in the hearing held on 2nd September 2015 by taking cognizance of the pendency of civil suit in the Hon'ble Delhi High Court which was instituted by M/s Himalaya International Ltd. Suit filed in the Hon'ble Delhi High Court has now been transferred to Hon'ble Tis Hazari District Court Delhi by order dated 28.11.2015 in view of Notification No 27187/DHC/Orgl dated 24.11.2015 and the case is now being heard in Hon'ble Tis Hazari District Court Delhi.
(c) INR 2.134 Million for the year 2008-09 to 2016-17 may be payable to Haryana Sales Tax Department towards L.A.D.T. The company has filed an appeal before the Hon'ble High Court Chandigarh for the relief and the Hon'ble High Court has granted stay against L.A.D.T. and declared L.A.D.T. unconstitutional. The department has filed Appeal before the Hon'ble Supreme Court for granting stay and the same is pending, however no demand has been raised by the Haryana Sales Tax Department.
(d) The Company purchased 7.55 bigha land in Katha Baddi in 2006-07 for setting up a new project but due to change in Tax Policy of the Central Government, company could not set up the unit with in specified/extended time allowed u/s 118 of Himachal Pradesh Tenancy and Land Reform Act 1972.The purchase price of the same is INR 18.984 Million. District Collector (DC), Solan had issued show cause notice to acquire the land as per the provision of the Act. The reply of the notice was filed and the company through its legal representative has argued the case. The District Collector has given the judgment which is not in favor of the company. The company has filed appeal against the order of the District Collector with Divisional Commissioner (Appeal) and the proceeding is pending.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
· Electrical Installation
·
Pattern & Dies
·
Computer
·
Furniture and Fixtures
·
Vehicles
· Plant and Machinery
· Office Equipment
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 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 64.99 |
|
UK Pound |
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
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 |
YES |
|
--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.