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MIRA INFORM REPORT
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Report No. : |
502550 |
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Report Date : |
09.04.2018 |
IDENTIFICATION DETAILS
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Name : |
ROTO PUMPS LIMITED (w.e.f. 22.12.1993) |
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Formerly Known
As : |
ROTO PUMPS PRIVATE LIMITED (w.e.f. 27.08.1993) ROTO PUMPS AND HYDRAULICS RPIVATE LIMITED |
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Registered
Office : |
13, Roto House, Noida Special Economic Zone, Noida–201305,
Uttar Pradesh |
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Tel. No.: |
91-120-2567902-05 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
31.07.1975 |
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Com. Reg. No.: |
20-004152 |
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Capital
Investment / Paid-up Capital : |
INR 30.908 Million |
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CIN No.: [Company Identification
No.] |
L28991UP1975PLC004152 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Designing and manufacturing
superior products and technologies and also Company offers comprehensive
range of Progressive Cavity Pumps (PCP), with single screw and multiple
screws for various industrial and municipal applications. (Registered Activity) |
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No. of Employees
: |
332 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1975 and it is engaged in designing and manufacturing superior products and technologies. It also offers comprehensive range of Progressive Cavity Pumps (PCP), with single screw and multiple screws for various industrial and municipal applications. As per financials of March 2017, the company has registered healthy operating revenue and has reported a good profit margin of 6.94%. Rating takes into consideration the company’s established track record of business operations marked by healthy financials risk profile along with strong debt coverage indicators and good liquidity position. Rating also takes into account the established market position in the high-value industrial pumps and extensive experience of its promoters. Share are quoted high on Stock Exchanges. (Share are traded at a price of INR 107.65 against its face value of INR 2.) However, rating strength is partially offset by working capital intensive nature of operations. As per unaudited financials of December 2017, the company has achieved a revenue of INR 253.000 million and has reported fair profit margin of 4.97%. Payments seems to be regular. In view of aforesaid, 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term rating : BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
21.07.2017 |
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
31-03-2018.
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 09.04.2018
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 (Tel No.: 91-120-2567912)
LOCATIONS
|
Registered Office /
Marketing Head Office : |
13, Roto House, Noida Special Economic Zone, Noida–201305, Uttar Pradesh, India |
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Tel. No.: |
91-120-2567902-05 |
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Fax No.: |
91-120-2567911 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No.31, Sector Ecotech XII, Greater Noida – 201008, Uttar Pradesh, India |
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Tel. No.: |
91-120-2567912-15 |
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Factory 2 : |
B-14 & 15, Phase-II, Extension, Noida – 201305, Uttar Pradesh,
India |
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Tel. No.: |
91-120-2567945-48 |
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Fax No.: |
91-120-2567911 |
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Branch Offices : |
Located at : ·
Chennai ·
Kolkata ·
Mumbai ·
Vadodara |
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Overseas Branch Offices : |
Located at : ·
Manchester ·
United Kingdom ·
Victoria ·
Australia |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Harish Chandra Gupta |
|
Designation : |
Managing Director |
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Address : |
211, Cariappa Marg, Sainik Farms, New Delhi-110062, India |
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Date of Appointment : |
31.07.1975 |
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DIN No.: |
00334405 |
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Name : |
Mr. Anurag Gupta |
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Designation : |
Whole-Time Director |
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Address : |
W-15 J/1 (J238), Western Avenue, Sainik Farms, New Delhi-110062, India |
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Date of Appointment : |
29.10.1999 |
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DIN No.: |
00334160 |
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Name : |
Mr. Arvind Veer Gupta |
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Designation : |
Whole-Time Director |
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Address : |
211, Cariappa Marg, Sainik Farms, New Delhi-110062, India |
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Date of Appointment : |
16.01.2001 |
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DIN No.: |
00334233 |
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Name : |
Mrs. Asha Gupta |
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Designation : |
Director |
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Address : |
W-15 J/1 (J238), Western Avenue, Sainik Farms, New Delhi-110062, India |
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Date of Appointment : |
29.07.2006 |
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DIN No.: |
00334345 |
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Name : |
Mr. Ramaswamy Suryanarayana Bettadapur |
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Designation : |
Director |
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Address : |
140, Mandakini Enclave, Alaknanda, New Delhi-110019, India |
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Date of Appointment : |
01.10.1993 |
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DIN No.: |
00334631 |
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Name : |
Mr. Anand Bordia |
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Designation : |
Director |
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Address : |
B-4,Sector-27 Noida 201301, Uttar Pradesh, India |
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Date of Appointment : |
28.01.2010 |
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DIN No.: |
00679165 |
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Name : |
Dr. Ramesh Chandra Vaish |
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Designation : |
Director |
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Address : |
169, Golf Links, New Delhi-110003, India |
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Date of Appointment : |
28.01.2010 |
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DIN No.: |
01068196 |
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Name : |
Mrs. Annapurna Dixit |
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Designation : |
Director |
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Address : |
Ajm 102A, Arjun Marg, DLF Qutab Enclave, Phase I, Gurugram-122002, Haryana, India |
|
Date of Appointment : |
14.02.2014 |
|
DIN No.: |
06844250 |
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|
Name : |
Mr. Basant Seth |
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Designation : |
Casual Vacancy Director |
|
Address : |
Flat No. 304, Kalpana Tower Society 3/16, Vishnupuri Kanpur 208002, Uttar Pradesh, India |
|
Date of Appointment : |
12.05.2017 |
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DIN No.: |
02798529 |
KEY EXECUTIVES
|
Name : |
Mr. Ashwani Kumar Verma |
|
Designation : |
Company Secretary |
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Address : |
71 F, Pocket A 3, Mayur Vihar, Phase III, Delhi-110096, India |
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Date of Appointment : |
01.02.2002 |
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PAN No.: |
ACQPV9427L |
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|
Name : |
Mr. Pradeep Jain |
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Designation : |
Chief Financial Officer |
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Address : |
17 E/ 234, Konark Enclave Vasundhra, Ghaziabad-201010, Uttar Pradesh, India |
|
Date of Appointment : |
10.11.2015 |
|
PAN No.: |
AAEPJ6827A |
MAJOR SHAREHOLDERS
As on 31.12.2017
|
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) |
|
|
(A) Promoter & Promoter
Group |
10770620 |
69.70 |
|
|
(B) Public |
4683185 |
30.30 |
|
|
Grand Total |
15453805 |
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 % |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
10770620 |
69.70 |
|
|
Asha Gupta |
2499665 |
16.18 |
|
|
H C Gupta |
1973695 |
12.77 |
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|
N K Gupta HUF |
1488660 |
9.63 |
|
|
Arvind Gupta |
1210335 |
7.83 |
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|
Anurag Gupta |
1085335 |
7.02 |
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|
HC Gupta HUF |
1071100 |
6.93 |
|
|
Neera Gupta |
848575 |
5.49 |
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|
Mansi Kanoria |
158700 |
1.03 |
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Rajeeta Gupta |
135155 |
0.87 |
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Rolly Gupta |
133830 |
0.87 |
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|
Madhu Agarwal |
103600 |
0.67 |
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Shalini Gupta |
30835 |
0.20 |
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Manoj Agarwal |
19325 |
0.13 |
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|
Rajinder Kumar Gupta |
10810 |
0.07 |
|
|
Urmila Agarwal |
1000 |
0.01 |
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Sub
Total A1 |
10770620 |
69.70 |
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|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
10770620 |
69.70 |
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 % |
|
|
B1)
Institutions |
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|
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|
Any
Other (specify) |
112483 |
0.73 |
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Sub
Total B1 |
112483 |
0.73 |
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B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
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B3)
Non-Institutions |
0 |
0.00 |
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Individual
share capital upto INR 0.200 million |
3250100 |
21.03 |
|
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Individual
share capital in excess of INR 0.200 million |
315055 |
2.04 |
|
|
AMIT GUPTA |
215050 |
1.39 |
|
|
Any
Other (specify) |
1005547 |
6.51 |
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Bodies Corporate |
188838 |
1.22 |
|
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Clearing Members |
147773 |
0.96 |
|
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Foreign Individuals |
552936 |
3.58 |
|
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DEBRA PAULY |
382000 |
2.47 |
|
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Trusts |
500 |
0.00 |
|
|
IEPF AUTHORITY |
115500 |
0.75 |
|
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Sub
Total B3 |
4570702 |
29.58 |
|
|
B=B1+B2+B3 |
4683185 |
30.30 |
BUSINESS DETAILS
|
Line of Business : |
Designing and manufacturing superior
products and technologies and also Company offers comprehensive range of
Progressive Cavity Pumps (PCP), with single screw and multiple screws for
various industrial and municipal applications. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
332 (Approximately) |
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Bankers : |
·
Bank of India ·
Citi Bank NA ·
IndusInd Bank Limited |
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Facilities : |
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Statuary Auditors : |
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Name : |
A. Kay. Mehra and Company Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary : |
Roto Pumps Africa (Pty) Limited |
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Wholly Owned
Subsidiaries : |
· Roto Pumpen GmbH ·
Roto Pumps North America Inc. |
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Other related party
: |
H. C. Gupta HUF |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 2/- each |
INR 100.000 Million |
|
|
|
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Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15500305 |
Equity Shares |
INR 2/- each |
INR 31.001 Million |
|
|
|
|
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Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15453805 |
Equity Shares |
INR 2/- each |
INR 30.908 Million |
|
|
|
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Details of
shareholder holding more than 5% shares
|
Name of Shareholder |
As on 31.03.2017 |
|
|
Number of Shares held in the Company |
% Held |
|
|
Anurag Gupta |
1085335 |
7.02 |
|
Nand Kishore Gupta HUF |
1488660 |
9.63 |
|
Arvind Veer Gupta |
1210335 |
7.83 |
|
Asha Gupta |
2499665 |
16.18 |
|
Harish Chandra Gupta |
1973695 |
12.77 |
|
Harish Chandra Gupta HUF |
1071100 |
6.93 |
|
Neera Gupta |
848575 |
5.49 |
During the Year there is no Changes in Number of Shares outstanding at the end of the reporting period in comparison to number of Shares Outstanding at the beginning of the reporting period
Application Money on 9,300 Equity Shares @ INR 10/- per Share along with premium @ INR 45/- per share aggregating to INR 511500/- allotted on 11.11.1994 has not yet been dispatched and realised as the same was paid by an applicant through a forged stock invest which has been dishonoured by the bankers. During the Financial year 2014-2015 the Face Value of Shares is divided into INR 2/- per Share from INR 10/- per Share each.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.908 |
30.908 |
30.908 |
|
(b) Reserves & Surplus |
600.766 |
534.916 |
495.898 |
|
(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) |
631.674 |
565.824 |
526.806 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26.590 |
76.649 |
134.132 |
|
(b) Deferred tax liabilities
(Net) |
4.528 |
9.464 |
15.368 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.237 |
5.787 |
4.968 |
|
Total
Non-current Liabilities (3) |
38.355 |
91.900 |
154.468 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
260.309 |
248.396 |
208.429 |
|
(b) Trade payables |
106.059 |
87.891 |
96.337 |
|
(c) Other current liabilities |
117.730 |
119.486 |
127.336 |
|
(d) Short-term provisions |
53.773 |
35.802 |
46.592 |
|
Total
Current Liabilities (4) |
537.871 |
491.575 |
478.694 |
|
|
|
|
|
|
TOTAL |
1207.900 |
1149.299 |
1159.968 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
496.694 |
536.393 |
554.979 |
|
(ii) Intangible Assets |
1.288 |
1.572 |
1.409 |
|
(iii) Capital work-in-progress |
1.979 |
7.957 |
7.966 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
73.877 |
73.877 |
29.820 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
573.838 |
619.799 |
594.174 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
186.541 |
181.056 |
197.601 |
|
(c) Trade receivables |
314.263 |
220.056 |
209.831 |
|
(d) Cash and cash equivalents |
40.972 |
30.205 |
42.841 |
|
(e) Short-term loans and
advances |
92.052 |
97.915 |
115.455 |
|
(f) Other current assets |
0.234 |
0.268 |
0.066 |
|
Total
Current Assets |
634.062 |
529.500 |
565.794 |
|
|
|
|
|
|
TOTAL |
1207.900 |
1149.299 |
1159.968 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
949.371 |
949.794 |
942.795 |
|
|
Other Income |
2.208 |
3.180 |
0.664 |
|
|
TOTAL
|
951.579 |
952.974 |
943.459 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
313.981 |
323.297 |
333.851 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.323) |
4.939 |
(21.437) |
|
|
Employees benefits expense |
236.113 |
241.529 |
231.500 |
|
|
Other expenses |
194.786 |
213.819 |
212.535 |
|
|
TOTAL |
742.557 |
783.584 |
756.449 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
209.022 |
169.390 |
187.010 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
31.708 |
31.823 |
22.327 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
177.314 |
137.567 |
164.683 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
71.925 |
76.544 |
48.414 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
105.389 |
61.023 |
116.269 |
|
|
|
|
|
|
|
Less |
TAX |
39.500 |
18.245 |
42.118 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
65.889 |
42.778 |
74.151 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
429.657 |
390.599 |
337.215 |
|
|
|
|
|
|
|
Less
|
Additional Depreciation on Fixed Assets upto 31st March 2014
Companies Act 2013 |
0.000 |
0.000 |
1.607 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
8.000 |
|
|
Proposed Dividend |
0.000 |
3.091 |
9.272 |
|
|
Tax on Dividend |
0.000 |
0.629 |
1.888 |
|
|
Total
|
0.000 |
3.720 |
19.160 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
495.546 |
429.657 |
390.599 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
569.502 |
610.897 |
626.626 |
|
|
Freight |
1.773 |
5.545 |
2.341 |
|
|
TOTAL
EARNINGS |
571.275 |
616.442 |
628.967 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
13.548 |
18.158 |
28.728 |
|
|
Capital Goods |
0.078 |
0.105 |
18.691 |
|
|
TOTAL
IMPORTS |
13.626 |
18.263 |
47.419 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
4.26 |
2.77 |
4.80 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
145.073 |
172.659 |
145.801 |
|
Net Cash from Operating Activities |
121.734 |
146.669 |
107.636 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
188.930 |
269.160 |
253.740 |
|
Total Expenditure |
165.040 |
206.640 |
207.610 |
|
PBIDT (Excl OI) |
23.890 |
62.520 |
46.130 |
|
Other Income |
4.840 |
4.840 |
(3.660) |
|
Operating Profit |
28.730 |
67.350 |
42.470 |
|
Interest |
7.630 |
6.190 |
8.370 |
|
Exceptional Items |
NA |
NA |
NA0 |
|
PBDT |
21.100 |
61.160 |
34.100 |
|
Depreciation |
16.560 |
17.820 |
17.380 |
|
Profit Before Tax |
4.540 |
43.340 |
16.730 |
|
Tax |
0.820 |
15.260 |
4.100 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
3.720 |
28.080 |
12.620 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
3.720 |
28.080 |
12.620 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
120.82 |
84.57 |
81.24 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.02 |
4.32 |
4.49 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
123.29 |
99.23 |
105.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.12 |
0.94 |
0.95 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.42 |
0.31 |
0.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.47 |
0.49 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.45 |
0.57 |
0.65 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.85 |
0.87 |
0.91 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.79 |
0.96 |
1.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
6.59 |
5.32 |
8.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.94 |
4.50 |
7.87 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.45 |
3.72 |
6.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.43 |
7.56 |
14.08 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.18 |
1.08 |
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.83 |
0.71 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.52 |
0.49 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
9.28 |
10.52 |
11.08 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.18 |
1.08 |
1.18 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 107.65/- |
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 |
30.908 |
30.908 |
30.908 |
|
Reserves & Surplus |
495.898 |
534.916 |
600.766 |
|
Net
worth |
526.806 |
565.824 |
631.674 |
|
|
|
|
|
|
long-term borrowings |
134.132 |
76.649 |
26.590 |
|
Short term borrowings |
208.429 |
248.396 |
260.309 |
|
Total
borrowings |
342.561 |
325.045 |
286.899 |
|
Debt/Equity
ratio |
0.650 |
0.574 |
0.454 |
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 |
942.795 |
949.794 |
949.371 |
|
|
|
0.742 |
(0.045) |
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 |
942.795 |
949.794 |
949.371 |
|
Profit |
74.151 |
42.778 |
65.889 |
|
|
7.87% |
4.50% |
6.94% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
30.908 |
30.908 |
|
(b) Reserves & Surplus |
|
527.052 |
478.121 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
(d) Minority Interest |
|
13.859 |
12.697 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
571.819 |
521.726 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
26.590 |
76.650 |
|
(b) Deferred tax liabilities
(Net) |
|
4.528 |
9.464 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
7.237 |
5.787 |
|
Total
Non-current Liabilities (3) |
|
38.355 |
91.901 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
260.309 |
248.396 |
|
(b) Trade payables |
|
109.442 |
88.278 |
|
(c) Other current liabilities |
|
119.363 |
120.786 |
|
(d) Short-term provisions |
|
54.370 |
35.802 |
|
Total
Current Liabilities (4) |
|
543.484 |
493.262 |
|
|
|
|
|
|
TOTAL |
|
1153.658 |
1106.889 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
498.356 |
537.136 |
|
(ii) Intangible Assets |
|
1.300 |
1.607 |
|
(iii) Capital work-in-progress |
|
1.979 |
7.957 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
501.635 |
546.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
197.768 |
193.017 |
|
(c) Trade receivables |
|
290.161 |
200.230 |
|
(d) Cash and cash equivalents |
|
56.099 |
36.322 |
|
(e) Short-term loans and
advances |
|
107.761 |
130.353 |
|
(f) Other current assets |
|
0.234 |
0.267 |
|
Total
Current Assets |
|
652.023 |
560.189 |
|
|
|
|
|
|
TOTAL |
|
1153.658 |
1106.889 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1008.766 |
965.574 |
|
|
Other Income |
|
4.757 |
2.596 |
|
|
TOTAL
|
|
1013.523 |
968.170 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
351.535 |
343.893 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
(0.423) |
(4.599) |
|
|
Employees benefits expense |
|
259.283 |
268.234 |
|
|
Other expenses |
|
210.683 |
229.864 |
|
|
TOTAL |
|
821.078 |
837.392 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
192.445 |
130.778 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
31.708 |
31.823 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
160.737 |
98.955 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
72.882 |
76.932 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
87.855 |
22.023 |
|
|
|
|
|
|
|
Less |
TAX |
|
39.500 |
18.245 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX BUT BEFORE MINORITY INTEREST |
|
48.355 |
3.778 |
|
|
|
|
|
|
|
Add |
Share of Loss Transferred to Minority Interest |
|
0.809 |
2.666 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
|
49.164 |
6.444 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
3.18 |
0.42 |
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 |
No |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
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 |
Year in retrospect
The Company has achieved an income from Operations of INR 949.371 Million against previous year’s income of INR 949.795 Million. Domestic sales were INR 374.995 Million as compared to INR 330.707 Million, registering a growth of 13.39 % over last year. Export sale was INR 574.375 Million as compared to INR 619.087 Million which was lower than last year by 7.22%. Export sales include INR 412.295 Million, sales from Marketing Outlets in United Kingdom and Australia. Revenue from total export sales constitutes 60.50 % of total revenue from operations.
Outlook
The company’s operations are expected to be better as export
sales are expected to rise. On Domestic front, the outlook is looking encouraging
backed by healthy order book. Projected GDP growth of 7.2% would result in
increased spending by Government and Private Sector. The effect of
demonetisation and GST implementation is also positive for growth of business.
MANAGEMENT DISCUSSION
AND ANALYSIS
Economic overview
Global economy
Global economic activity is picking up with a long awaited cyclical recovery in investment, manufacturing, and trade. World growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017. Stronger activity and expectations of more robust global demand, coupled with agreed restrictions on oil supply, have helped commodity prices recover from their troughs in early 2016. Higher commodity prices have provided some relief to commodity exporters and helped lift global headline inflation and reduce deflationary pressures. Financial markets are buoyant and expect continued policy support in China and fiscal expansion and deregulation in the United States. If confidence and market sentiment remain strong, short-term growth could indeed surprise on the upside.
These positive developments should not distract from binding structural impediments to a stronger recovery and a balance of risks that remains tilted to the downside, especially over the medium term. Structural problems—such as low productivity growth and high income inequality are likely to persist. Inwardlooking policies threaten global economic integration and the cooperative global economic order, which have served the world economy, especially emerging market and developing economies, well. A faster than expected pace of interest rate hikes in the United States could tighten financial conditions elsewhere, with potential further U.S. dollar appreciation straining emerging market economies with exchange rate pegs to the dollar or with material balance sheet mismatches. More generally, a reversal in market sentiment and confidence could tighten financial conditions and exacerbate existing vulnerabilities in a number of emerging market economies, including China—which faces the daunting challenge of reducing its reliance on credit growth. A dilution of financial regulation may lead to stronger near-term growth but may imperil global financial stability and raise the risk of costly financial crisis down the road. In addition, the threat of deepening geopolitical tensions persists, especially in the Middle East and North Africa. Against this backdrop, economic policies have an important role to play in staving off downside risks and securing the recovery, as stressed in previous WEOs
Indian economy
Indian Economy is the sixth largest economy in the World measured by the GDP and the third largest by purchasing power parity. The Country is classified as newly industrialized country and is one of the G20 major economies. India’s economy became the world’s fastest growing economy in the last quarter of 2014 surpassing China.
The long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates and increasing integration into the global economy. The Indian economy has the potential to become the world’s 3rd-largest economy by the next decade and one of the two largest economies by mid-century. The International Monetary Fund (IMF) described the Indian economy as the “bright spot” in the global landscape. India topped the World Bank’s growth outlook for the first time in fiscal year 2015–16, during which the economy grew 7.6%. Growth is expected to have declined slightly to 7.1% for the 2016–17. According to the IMF, India's growth is expected to rebound to 7.2% in the year 2017–18.
Industry overview
Roto Pumps is a part of USD 47 billion global pumps industry as on 2014. The Industry is estimated to reach USD 56 billion by 2017 as per the Indian Pumps and Valves Report. The pumps industry serves many industries, and a few of these are a critical part of economy's core infrastructure such as oil and gas, power, mining, paper and pulp and food processing to name of few and contributes significantly to the growth of Indian economy. The Pumps & Valves sector has a net value addition ratio in manufacturing of over 20 per cent. India already exports Pumps & Valves worth over US$ 1.55 billion, serving various engineering segments, to over 100 countries. The exports in this segment are growing at a healthy rate of around 10-12 per cent annually. Additionally the Indian market is already worth over INR 50000.000 Million (US$ 780 million) in pumps & INR 45000.000 Million (US$ 700 million) in valves. India is already selling & supporting niche scientific & engineering technologies to developed economies in areas such as in aerospace engineering, auto components, biotechnology etc.
Today India has attained near self-sufficiency in Pumps for Nuclear Power, complete self-sufficiency in captive power generation, pulp & papers, energy efficient pumps in utilities and in agriculture sector. Considerable manufacturing segment of this sector is focusing on catering latest application in Bio-Pharma field. Indian Pumps & Valves sector has uniquely positioned itself to cater global quality solutions emerging from installations, upgradation or replacement needs.
Given the fact that among ‘machineries’, pumps are said to
be produced and used in largest numbers, second only to electric motors. The
overall scenario in Indian economy also favours growth and development in
Indian Pumps and Valves industry, thereby opening huge potential of
international collaborations.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G54333315 |
100124629 |
KOTAK MAHINDRA PRIME LIMITED |
31/08/2017 |
- |
6517000.0 |
27BKC, C 27, G Block Bandra Kurla Complex, Bandra (E), Mumbai Maharashtra 400051 India |
|
2 |
G41816653 |
100093434 |
KOTAK MAHINDRA PRIME LIMITED |
23/03/2017 |
- |
7829977.0 |
27BKC, C 27, G Block Bandra Kurla Complex, Bandra (E), Mumbai Maharashtra 400051 India |
|
3 |
G17829524 |
100056673 |
KOTAK MAHINDRA PRIME LIMITED |
27/09/2016 |
- |
9000000.0 |
27BKC, C 27, G Block Bandra Kurla Complex, Bandra (E), Mumbai Maharashtra 400051 India |
|
4 |
G08264103 |
100040992 |
KOTAK MAHINDRA PRIME LIMITED |
30/06/2016 |
- |
885000.0 |
27BKC, C 27, G Block Bandra Kurla Complex, Bandra (E), Mumbai Maharashtra 400051 India |
|
5 |
C80535461 |
10624798 |
HDFC BANK LIMITED |
30/01/2016 |
- |
4000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG LOWER PAREL (WEST) Mumbai MAHARASHTRA 400013 INDIA |
|
6 |
C62316252 |
10587437 |
KOTAK MAHINDRA PRIME LIMITED |
27/04/2015 |
- |
900000.0 |
27BKC, C 27, G Block Bandra Kurla Complex, Bandra (E), Mumbai Maharashtra 400051 India |
|
7 |
C62315585 |
10587434 |
KOTAK MAHINDRA PRIME LIMITED |
09/01/2015 |
- |
900000.0 |
27BKC, C 27, G Block Bandra Kurla Complex, Bandra (E), Mumbai Maharashtra 400051 India |
|
8 |
C73450959 |
10526211 |
INDUSIND BANK LIMITED |
25/09/2014 |
18/11/2015 |
100000000.0 |
DR. GOPAL DAS BUILDING 28, BARAKHAMBA ROAD NEW DELHI 110001 India |
|
9 |
C16371403 |
10514824 |
INDUSIND BANK LIMITED |
22/07/2014 |
- |
37500000.0 |
Dr. Gopal Das Bhawan 28, Barakhamba Road New Delhi 110001 India |
|
10 |
C49516339 |
10442047 |
Citi Bank N.A. |
17/06/2013 |
03/12/2014 |
100000000.0 |
Jeevan Bharti Building, 4th Floor,124 Connaught Circus, Connaught Place, New Delhi 110001 India |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Disputed Sales Tax-Case |
17.524 |
0.300 |
|
Disputed Income Tax (appeals pending) |
5.055 |
5.055 |
|
Bank Guarantee |
25.693 |
27.957 |
|
Corporate Guarantee |
0.023 |
0.000 |
|
Labour Cases |
6.214 |
6.689 |
|
Additional Demand from Greater Noida Industrial Development Authority on Greater Noida Land |
11.000 |
11.000 |
|
Total |
65.509 |
51.001 |
STATEMENT
OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED
31.12.2017
(INR In Million)
|
PARTICULARS |
Standalone |
||
|
Quarter Ended |
Nine Months Ended |
||
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
Income From
Operations |
|
|
|
|
a. Revenue from operations |
253.739 |
269.157 |
711.825 |
|
b. Other Income |
(3.655) |
4.835 |
6.017 |
|
Total Income from
Operations (Net) |
250.084 |
273.992 |
717.842 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Cost of Materials consumed |
88.397 |
92.237 |
249.087 |
|
Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
(5.830) |
(9.509) |
(29.398) |
|
Employees Benefit Expenses |
66.088 |
66.160 |
189.464 |
|
Finance Cost |
8.365 |
6.194 |
22.191 |
|
Depreciation and Amortization Expenses |
17.381 |
17.816 |
51.756 |
|
Other expenses |
58.954 |
57.750 |
170.132 |
|
Total Expenses |
233.355 |
230.648 |
653.232 |
|
|
|
|
|
|
Profit / (Loss)
before tax |
16.729 |
43.344 |
64.610 |
|
Tax Expense |
|
|
|
|
- Current Tax |
7.871 |
16.819 |
28.223 |
|
- Deferred Tax |
(3.215) |
(1.550) |
(7.483) |
|
- Short/ (Excess) provisions for previous years |
(0.549) |
0.000 |
(0.549) |
|
Net Profit /
(Loss) After Tax |
12.622 |
28.075 |
44.416 |
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
Items that will not be reclassified to profit or loss |
|
|
|
|
i) remeasurments of defined benefit plans |
(0.086) |
(1.000) |
(1.772) |
|
Items that
will be reclassified to profit or loss |
|
|
|
|
ii) Income tax relating to items that will be reclassified
to profit and loss |
(0.029) |
(0.346) |
(0.613) |
|
Total Other comprehensive income |
(0.115) |
(1.346) |
(2.385) |
|
|
|
|
|
|
Total Other comprehensive income for the period |
12.507 |
26.729 |
42.031 |
|
|
|
|
|
|
Paid- up
Equity Share Capital (share – INR 2) |
30.908 |
30.908 |
30.908 |
|
Earnings Per Share (of INR 2 each) (not annualized) |
|
|
|
|
Basic - Diluted |
0.82 |
1.82 |
2.87 |
Notes:
1. The above Standalone Un-audited Financial Results for the third quarter and nine months ended 31st December, 2017 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 10th February, 2018. The financial results are prepared in accordance with the Indian Accounting Standard (Ind AS) as prescribed under section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules 2015 (as amended).
2. The Company has adopted Indian Accounting Standards (Ind-AS) with the
transition date of April 1, 2016. Accordingly, the financial results for
quarters ended December 31, 2016 and December 31, 2017 have been prepared in
accordance with the recognition and measurement principles laid down in Ind AS
34 "Interim Financial Reporting" prescribed under Section 133 of the
Companies Act, 2013 read with the relevant rules thereunder and in terms of
Regulation 33 of SEB1 (Listing Obligations and Disclosure Requirements) Regulations,
2015 and SEBl Circular dated July 5, 2016.
3. Results for the quarter ended 31st December, 2017 have been subjected to
limited review by the Statutory Auditors. The Ind- AS compliant corresponding
figures of quarter ended 31st December, 2016 have not been subjected to limited
review or audit by the Statutory Auditors. The Company has exercised necessary
due diligence to ensure that such financial results provide a true and fair
view of its affairs.
4. The Company’s operations predominantly comprise of only one segment - Pumps
& Spares, the ref ore, segment reporting does not apply.
5. The format for the unaudited quarterly results as prescribed in SEBI's
Circular dated 30th November 2015 has been modified to comple with the
requirements of SEBI's Circular dated 5th July, 2016, Ind AS and Schedule III
to the Companies Act 2013 applicable to the Company that is required to comply
with IND-AS.
6. Previous period figure have regrouped / rearranged wherever necessary, to
make them comparable.
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
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 65.06 |
|
UK Pound |
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·