|
|
|
MIRA INFORM REPORT
|
Report No. : |
503348 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
INDSIL ENERGY
AND ELECTROCHEMICALS PRIVATE LIMITED (w.e.f. 16.12.2014) |
|
|
|
|
Formerly Known
As : |
INDSIL ENERGY AND ELECTROCHEMICALS LIMITED (w.e.f. 04.10.2002) INDSIL ENERGY LIMITED |
|
|
|
|
Registered
Office : |
“INDSIL House” Door No. 103-107, Tiruvnkataswamy Road (West), R S
Puram, Coimbatore – 641002, Tamilnadu |
|
Tel. No.: |
91-422-4522922 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.08.1996 |
|
|
|
|
Com. Reg. No.: |
18-007421 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 191.540 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U04010TZ1996PTC007421 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
3202014692 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
22AABCI0028G1ZB |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI0028G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Exporter and Importer of Low Carbon Silicon Manganese and also Generation of Electricity
(Thermal Power). (Registered
Activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
315 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Poor |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1996 and is a subsidiary of Sunmet Holding India Private Limited. It is engaged in the manufacturing of low carbon silicon manganese and also generation of electricity (thermal power).
|
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 |
CRISIL |
|
Rating |
Long term Loans : D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery. |
|
Date |
28.08.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Loans : D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery. |
|
Date |
28.08.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
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 11.04.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rajkumar |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-422-4522922 |
|
Date : |
10.04.2018 |
LOCATIONS
|
Registered Office : |
“INDSIL House” Door No. 103-107, Tiruvnkataswamy Road (West), R S
Puram, Coimbatore – 641002, Tamilnadu, India |
|
Tel. No.: |
91-422-4522922/4522914/ 4522923 |
|
Fax No.: |
91-422-4522925 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory : |
Sector C, Plot No. 114-122, Urla Industrial Area, Raipur – 493221, Chhattisgarh,
India |
|
Tel. No.: |
91-771-2323826/ 2323825/ 4057161 |
|
Fax No.: |
91-771-2323852/4057161/ 2323825 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Varadarajan Singanallur Narasimhan |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
239, Alagesan Road Coimbatore - 641011, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.10.1945 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.12.2014 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00035693 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vinod Narsiman |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
222/223, Alagesan Road Coimbatore -641011, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.03.1972 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.12.2014 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00035746 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ponnari Raman Selvaraj |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
A-5/6, Sector-1, Udaya Society, Tatibandh, Raipur-492099,
Chhattisgarh, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.12.2017 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
08029635 |
||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Krishnaveni Periasamy |
|
Designation : |
Company Secretary |
|
Address : |
No.16, Koolaichinnampatti Kariyampatti, Oddanchatram-624616, Tamilnadu, India |
|
Date of Appointment : |
07.06.2017 |
|
PAN No.: |
CNDPK7365J |
|
|
|
|
Name : |
Mr. Rajkumar |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
As on 24.05.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Varadarajan Singanallur Narasimhan |
|
22250 |
|
Vinod Narsiman Varadarajan |
|
2250 |
|
Pushpa Varadarajan Dharmarajan |
|
1000 |
|
Jayashree Vinod |
|
500 |
|
INDSIL Hydro Power and Manganese Limited |
|
127500 |
|
Sumeet Holdings India Private Limited |
|
17316655 |
|
Crossimn Agencies Private Limited |
|
3300000 |
|
Total |
|
20770155 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
B. Ajithkumar Jain |
|
1500000 |
|
Mahaveerchand B |
|
1500000 |
|
Balchand Nirmalkumar Jain |
|
1500000 |
|
Pankajkumar B |
|
1500000 |
|
Balchand Vasanth Kumar |
|
1500000 |
|
Balchand B |
|
1500000 |
|
Ashok B |
|
1500000 |
|
Deep Prakash M |
|
1500000 |
|
Mohit Jain P |
|
1500000 |
|
Paras B |
|
1500000 |
|
Total |
|
15000000 |
Equity Share Break up (Percentage of Total Equity)
As on 24.05.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
0.12 |
|
Promoters (Body corporate) |
99.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Low Carbon Silicon Manganese and also Generation of Electricity (Thermal
Power). (Registered Activity
and also Confirmed by management) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
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|
||||
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Exports : |
|
||||
|
Products : |
Low Carbon Silicon Manganese |
||||
|
Countries : |
·
Korea ·
United States of America ·
Malaysia ·
Japan |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
South Africa |
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|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cheque |
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|
|
|
||||
|
Purchasing : |
L/C, Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
||||||||||||||||||||||
|
Customers : |
OEM’s
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
315 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited · Exim Bank Limited · Yes Bank Limited ·
Kotak Mahindra Bank Limited |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Raja and Raman Chartered Accountants |
|
Address : |
1055/11, Gowtham Centre, Avinashi Road, Coimbatore- 641018, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFR3210R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Sunmet Holdingsindia Private Limited, India CIN No.: U27106TZ1980PTC010578 |
|
|
|
|
Associate : |
Sree Mahalakshmi Smelters Private Limited, India CIN No.: U27101TZ2008PTC028507 |
|
|
|
|
Wholly Owned
Subsidiary : |
Indsil Energy Global(FZE) |
|
|
|
|
Joint venture : |
Al-Tamman Indsil Ferro Chrome LLC |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Indsil Hydro Power and Manganese Limited, India CIN No.: L27101TZ1990PLC002849 |
CAPITAL STRUCTURE
As on 24.05.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 2/- each |
INR 100.000 Million |
|
15000000 |
Preference shares |
INR 10/- each |
INR 150.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20780265 |
Equity Shares |
INR 2/- each |
INR 41.560 Million |
|
15000000 |
Preference shares |
INR 10/- each |
INR 150.000 Million |
|
|
Total |
|
INR 191.560
Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20770155 |
Equity Shares |
INR 2/- each |
INR 41.540 Million |
|
15000000 |
Preference shares |
INR 10/- each |
INR 150.000 Million |
|
|
Total |
|
INR 191.540
Million |
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 |
191.540 |
188.963 |
189.863 |
|
(b) Reserves and Surplus |
622.715 |
582.332 |
641.375 |
|
(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) |
814.255 |
771.295 |
831.238 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
85.063 |
97.313 |
115.279 |
|
(b) Deferred tax liabilities (Net) |
39.236 |
38.722 |
29.652 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.177 |
2.071 |
2.043 |
|
Total Non-current
Liabilities (3) |
126.476 |
138.106 |
146.974 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
724.109 |
734.867 |
651.743 |
|
(b) Trade
payables |
138.009 |
35.021 |
189.323 |
|
(c) Other current
liabilities |
82.585 |
87.736 |
115.760 |
|
(d) Short-term
provisions |
3.027 |
0.125 |
5.779 |
|
Total Current
Liabilities (4) |
947.730 |
857.749 |
962.605 |
|
|
|
|
|
|
TOTAL |
1888.461 |
1767.150 |
1940.817 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
472.686 |
472.837 |
494.502 |
|
(ii)
Intangible Assets |
3.633 |
3.633 |
3.632 |
|
(iii) Tangible assets
capital work-in-progress |
8.777 |
8.777 |
8.777 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
250.159 |
250.662 |
233.110 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
52.782 |
48.100 |
68.816 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
788.037 |
784.009 |
808.837 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
964.235 |
843.585 |
864.034 |
|
(c) Trade
receivables |
15.512 |
26.948 |
93.299 |
|
(d) Cash and bank
balances |
24.532 |
39.693 |
33.988 |
|
(e)
Short-term loans and advances |
59.967 |
46.608 |
111.581 |
|
(f) Other
current assets |
36.178 |
26.307 |
29.078 |
|
Total
Current Assets |
1100.424 |
983.141 |
1131.980 |
|
|
|
|
|
|
TOTAL |
1888.461 |
1767.150 |
1940.817 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1357.616 |
1319.871 |
1287.056 |
|
|
Other Income |
62.795 |
50.237 |
60.175 |
|
|
TOTAL |
1420.411 |
1370.108 |
1347.231 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
698.446 |
575.419 |
711.920 |
|
|
Purchases of Stock-in-Trade |
276.115 |
256.087 |
100.820 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(41.076) |
38.903 |
(33.572) |
|
|
Employee benefit expense |
40.947 |
39.873 |
35.167 |
|
|
Other expenses |
289.603 |
352.210 |
367.056 |
|
|
TOTAL |
1264.035 |
1262.492 |
1181.391 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
156.376 |
107.616 |
165.840 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
104.724 |
101.058 |
104.307 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
51.652 |
6.558 |
61.533 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
37.420 |
36.871 |
38.414 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
14.232 |
(30.313) |
23.119 |
|
|
|
|
|
|
|
Less |
TAX |
6.271 |
13.730 |
2.975 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
7.961 |
(44.043) |
20.144 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
475.015 |
640.429 |
452.396 |
|
|
TOTAL EARNINGS |
475.015 |
640.429 |
452.396 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
81.612 |
124.281 |
284.977 |
|
|
TOTAL IMPORTS |
81.612 |
124.281 |
284.977 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.22 |
(2.33) |
1.06 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
71.571 |
67.968 |
74.359 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
82.402 |
37.785 |
123.066 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
4.17 |
7.45 |
26.46 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
87.52 |
48.98 |
13.79 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
51.69 |
15.37 |
85.02 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.16 |
0.13 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.32 |
0.22 |
0.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.58 |
0.58 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.08 |
1.17 |
1.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
1.16 |
1.11 |
1.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.60 |
0.63 |
0.61 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.49 |
1.06 |
1.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.59 |
(3.34) |
1.57 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.42 |
(2.49) |
1.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
0.98 |
(5.71) |
2.42 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.16 |
1.15 |
1.18 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.14 |
0.16 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.43 |
0.44 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.60 |
4.76 |
4.43 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.16 |
1.15 |
1.18 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
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 |
189.863 |
188.963 |
191.540 |
|
Reserves & Surplus |
641.375 |
582.332 |
622.715 |
|
Net
worth |
831.238 |
771.295 |
814.255 |
|
|
|
|
|
|
long-term borrowings |
115.279 |
97.313 |
85.063 |
|
Short term borrowings |
651.743 |
734.867 |
724.109 |
|
Current maturities of
long-term debts |
74.359 |
67.968 |
71.571 |
|
Total
borrowings |
841.381 |
900.148 |
880.743 |
|
Debt/Equity
ratio |
1.012 |
1.167 |
1.082 |
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 |
1287.056 |
1319.871 |
1357.616 |
|
|
|
2.550 |
2.860 |
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 |
1287.056 |
1319.871 |
1357.616 |
|
Profit |
20.144 |
(44.043) |
7.961 |
|
|
1.57% |
(3.34%) |
0.59% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
191.540 |
188.963 |
|
(b) Reserves and Surplus |
|
431.860 |
388.950 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
623.400 |
577.913 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
239.736 |
348.808 |
|
(b) Deferred tax liabilities (Net) |
|
39.236 |
38.722 |
|
(c) Other long-term
liabilities |
|
14.396 |
18.676 |
|
(d) long-term
provisions |
|
2.177 |
2.071 |
|
Total Non-current
Liabilities (3) |
|
295.545 |
408.277 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1153.019 |
1147.363 |
|
(b) Trade
payables |
|
236.999 |
90.432 |
|
(c) Other
current liabilities |
|
227.291 |
228.017 |
|
(d) Short-term
provisions |
|
3.114 |
0.242 |
|
Total Current
Liabilities (4) |
|
1620.423 |
1466.054 |
|
|
|
|
|
|
TOTAL |
|
2539.368 |
2452.244 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
956.313 |
997.230 |
|
(ii)
Intangible Assets |
|
14.627 |
16.814 |
|
(iii) Tangible assets
capital work-in-progress |
|
8.777 |
8.777 |
|
(iv)
Intangible assets under development |
|
3.632 |
3.632 |
|
(b) Non-current Investments |
|
0.040 |
0.543 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
53.113 |
49.022 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1036.502 |
1076.018 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1227.802 |
1132.538 |
|
(c) Trade receivables |
|
143.165 |
112.066 |
|
(d) Cash and bank balances |
|
25.489 |
42.702 |
|
(e) Short-term loans and advances |
|
70.232 |
62.613 |
|
(f) Other current assets |
|
36.178 |
26.307 |
|
Total
Current Assets |
|
1502.866 |
1376.226 |
|
|
|
|
|
|
TOTAL |
|
2539.368 |
2452.244 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
2313.197 |
2183.797 |
|
|
Other Income |
|
49.030 |
52.014 |
|
|
TOTAL |
|
2362.227 |
2235.811 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1105.862 |
1028.462 |
|
|
Purchases of
Stock-in-Trade |
|
276.116 |
256.087 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
43.984 |
27.317 |
|
|
Employee benefit expense |
|
78.035 |
73.999 |
|
|
Other expenses |
|
607.804 |
667.319 |
|
|
TOTAL |
|
2111.801 |
2053.184 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
250.426 |
182.627 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
132.868 |
131.732 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
117.558 |
50.895 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
84.398 |
79.526 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
33.160 |
(28.631) |
|
|
|
|
|
|
|
Less |
TAX |
|
6.271 |
13.730 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
26.889 |
(42.361) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
0.75 |
(2.24) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
Yes |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS (STATE
OF THE COMPANY’S AFFAIRS):
The Company registered revenue of INR 1420.400 Million for the year 2016-17, compared to INR 1370.100 Million during the previous year.
FUTURE OUTLOOK:
The Company is considering a proposal for merger with that of Indsil Hydro Power and Manganese Limited subject to obtaining various approval.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G36452621 |
100078741 |
RBL BANK LIMITED |
17/02/2017 |
- |
130000000.0 |
NO. 29, BANNARI AMMAN TOWERS, RADHAKRISHNAN SALAI, MYLAPORE CHENNAI 600004 TAMILNADU INDIA |
|
2 |
G36553931 |
100079041 |
RBL BANK LIMITED |
17/02/2017 |
- |
50000000.0 |
NO. 29, BANNARI AMMAN TOWERS, RADHAKRISHNAN SALAI, MYLAPORE CHENNAI 600004 TAMILNADU INDIA |
|
3 |
C79586301 |
10621195 |
YES BANK LIMITED |
29/06/2015 |
- |
120000000.0 |
NEHRU CENTRE 9TH FLOOR, DISCOVERY OF INDIA DR A B ROAD, WORLI MUMBAI MAHARASHTRA 400018 INDIA |
|
4 |
C34417600 |
10510556 |
AXIS BANK LIMITED |
26/06/2014 |
24/10/2014 |
30000000.0 |
1133, 1135 & 1136, AVINASHI ROAD PAPPANAICKEN PALAYAM COIMBATORE TAMILNADU 641037 INDIA |
|
5 |
C14707889 |
10461848 |
ICICI BANK LTD |
25/10/2013 |
11/07/2014 |
100000000.0 |
1090 CHERAN PLAZA 1ST FLOOR TRICHY ROAD COIMBATORE TAMILNADU 641018 INDIA |
|
6 |
B72483530 |
10399573 |
EXPORT-IMPORT BANK OF INDIA |
03/01/2013 |
30/03/2013 |
120000000.0 |
CENTRE ONE BUILDING, FLOOR 21,WORLD TRADE CENTRE COMPLEX, CUFFE PARADE MUMBAI MAHARASHTRA 400005 INDIA |
|
7 |
B42746149 |
10255067 |
YES BANK LIMITED |
19/10/2010 |
16/05/2012 |
100000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI, MUMBAI MAHARASHTRA 400018 INDIA |
|
8 |
B97238984 |
10222087 |
KARNATAKA BANK LIMITED |
11/06/2010 |
23/01/2014 |
100000000.0 |
346 D B ROADR S PURAM COIMBATORE TAMILNADU 641002 INDIA |
|
9 |
A17781469 |
10013857 |
INDUSTRAIL DEVELOPMENT BANK OF INDIA LIMITED |
25/08/2006 |
13/06/2007 |
223500000.0 |
COIMBATORE MAIN BRANCH, STOCK EXCHANGE BUILDING TRICHY ROAD, SINGANALLUR COIMBATORE TAMILNADU 641005 INDIA |
|
10 |
C60758521 |
80009522 |
AXIS BANK LIMITED |
31/05/2004 |
20/05/2015 |
95000000.0 |
1133, 1135 & 1136, AVINASHI ROAD PAPPANAICKEN PALAYAM COIMBATORE TAMILNADU 641037 INDIA |
FIXED ASSETS
- Land
- Buildings
- Furniture and fixtures
- Plant and equipment
- Vehicles
- Computer equipments
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 64.94 |
|
UK Pound |
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·