|
|
|
MIRA INFORM REPORT
|
Report No. : |
504323 |
|
Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
BHARAT BIJLEE LIMITED |
|
|
|
|
Registered
Office : |
Electric Mansion, 6th Floor, Appasaheb Marathe Marg, Prabhadevi,
Mumbai – 400025, Maharashtra |
|
Tel. No.: |
91-22-24306237 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
22.06.1946 |
|
|
|
|
Com. Reg. No.: |
11-005017 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 56.516
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300MH1946PLC005017 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACB2900K1ZZ |
|
|
|
|
TIN No.: |
27570000071 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2900K |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is one of the leaders in the electrical engineering industry in India. A multi-product, multi-divisional organisation, its main products are transformers, electric motors, magnet technology machines and drives. The Company also undertakes turnkey projects (switchyards). a. Power Systems This segment comprises of the Design, Commissioning and Marketing of Power Transformers; EPC Projects for Electrical Substations including Delivery, Rectification, Commissioning and Servicing of Transformers and Marketing of Maintenance Products. b. Industrial
Systems This segment comprises of the Development, Marketing and Manufacture of a wide range of standard and customized Electric Motors; Magnet Technology Machines and the Engineering and Supply of AC Variable-speed Drives and Drive Systems. [Registered Activity] |
|
|
|
|
No. of Employees
: |
922 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject
was incorporated in the year 1946 and it is engaged in manufacturing of transformers,
motors, elevator systems and drives. It also
undertakes commissioning of projects under which it designs, commissions high
tension electrical switch yards and distribution systems on turn-key basis. As per financials
of March 2017, the company has registered a marginal growth in its revenue
and has reported average profit margin. Rating
takes into consideration the company’s established track record of business
operations marked by healthy net worth along with low solvency indicators and
fair liquidity position. Rating
also takes into account the extensive experience of its promoters in
electrical equipment manufacturing business and strong brand recognition in
transformer and electrical motors manufacture segment. Share are
quoted high stock exchanges. (Share are traded at a price of INR 1658 against
its face value of INR 10.) However,
rating strength is partially offset by subdued operating profitability
levels, emanating from the existing overcapacities in the transformer segment
which led to aggressive pricing by players, given the stiff competition in
sector. As per
unaudited quarterly financials of December 2017, the company has achieved a
revenue of INR 2,277 million and reported fair profit margin of 4.24%. Payment
are reported to be regular. In view of aforesaid, the company can be considered for good business dealings at secured 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 |
09.02.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
09.02.2018 |
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 17.04.2018.
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.: 91-22-27637200]
LOCATIONS
|
Registered Office : |
Electric Mansion, 6th Floor, Appasaheb Marathe Marg,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-24306237/ 24306071 |
|
Fax No.: |
91-22-24370624/ 24312532 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
No. 2, MIDC, Thane-Belapur Road, Airoli, Navi Mumbai – 400708, Maharashtra, India |
|
Tel. No.: |
91-22-27637200 |
|
Fax No.: |
91-22-27637443 |
|
|
|
|
Regional Offices: |
Northern Region 1st Floor, 7-B Rajindra Park Pusa Road, New Delhi 110 060, India Tel. No. : 91-11-25816931/ 6932/ 6933 Fax No. : 91-11-25816940 Ramanashree Chambers, 37, Lady Curzon Road, Bangalore 560 001, Karnataka, India Tel. No. : 91-80-25592646 Fax No. : 91-80-25592823 Eastern Region Siddha Fifth Avenue Space No. 3B, 3rd floor 179 Anandapur Kolkata 700 107, West Bengal, India Tel. No. : 91-33-24432382 Swastik Chambers, 5th Floor, Junction of Sion Trombay Road and C.S.T. Road, Chembur, Mumbai 400 071, Maharashtra, India Tel. No. : 91-22-61457200 Fax No. : 91-22-61457255 No. 2, MIDC, Thane Belapur Road, Airoli, Navi Mumbai 400 708, Maharashtra, India Tel. No. : 91-22-27637200 Fax No. : 91-22-27637443 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Nikhil Jaisingh Danani |
|
Designation : |
Managing Director |
|
Address : |
3, Steesha, Off Mount Mary Road, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1949 |
|
Qualification : |
Bachelor Degree in Mechanical Engineering and a Master’s
Degree in Business Administration from Rutgers University, USA. |
|
Experience : |
Company since May, 1975 and is one of the Managing
Directors, since 1st April, 1990. Mr. Danani has over 40 years’ experience in
the business of Transformers and Motors with vast knowledge in the field of
Electrical Engineering. |
|
Date of Appointment : |
20.06.1988 |
|
DIN No.: |
00056514 |
|
|
|
|
Name : |
Mr. Nakul Prahlad Mehta |
|
Designation : |
Managing Director |
|
Address : |
18 C, Il Palazzo, B G Kher Road, Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
30.05.1958 |
|
Qualification : |
Bachelor Degree in Science and also a Bachelor and Master
of Science Degree in Mechanical Engineering. |
|
Experience : |
Company since 1984 and is one of the Managing Directors
since 1st April 1990. Mr. Mehta has vast experience in the field of elevator
business and over 30 years’ experience in the Electrical Engineering
Industry. |
|
Date of Appointment : |
20.06.1988 |
|
DIN No.: |
00056561 |
|
|
|
|
Name : |
Mr. Prakash Vasantlal Mehta |
|
Designation : |
Director |
|
Address : |
123A, Maker Tower, Cuffe Parade, Colaba, Mumbai-400005,
Maharashtra, India |
|
Date of Appointment : |
07.08.1990 |
|
DIN No.: |
00001366 |
|
|
|
|
Name : |
Mr. Sanjiv Nemish Shah |
|
Designation : |
Director |
|
Address : |
B-9, Sea Face Park, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Appointment : |
14.08.2002 |
|
DIN No.: |
00007211 |
|
|
|
|
Name : |
Mr. Jairaj Chaturbhuj Thacker |
|
Designation : |
Director |
|
Address : |
387, Nirant S V Road, Vile Parle- (West) Mumbai-400056,
Maharashtra, India |
|
Date of Appointment : |
14.08.2002 |
|
DIN No.: |
00108552 |
|
|
|
|
Name : |
Mr. Shome Nikhil Danani |
|
Designation : |
Whole-time Director |
|
Address : |
3, Steesha, Off Mount Mary Road, Bandra Mumbai-400050,
Maharashtra, India |
|
Date of Birth/Age : |
04.03.1978 |
|
Qualification : |
Mr. Shome N. Danani, a Bachelor’s Degree in Industrial and
Operations Engineering from the University of Michigan, USA and a Masters
Degree in Business Administration from INSEAD, France. |
|
Brief profile &
nature of her expertise in specific functional areas : |
Shome N. Danani joined Bharat Bijlee Ltd. in 2002 and has
been responsible for various initiatives and growth strategies. He is the
Whole-time Director since January 28, 2009 and he has been leading the change
management drive that is essential to the long term growth and success of the
Company. He has been instrumental in building scalable systems and processes. |
|
Date of Appointment : |
28.01.2009 |
|
DIN No.: |
00217787 |
|
|
|
|
Name : |
Mr. Rajeshwar Raj Bajaaj |
|
Designation : |
Director |
|
Address : |
Flat No. 2, Ajanta Apartments, 11th Floor 75, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Appointment : |
11.09.2014 |
|
DIN No.: |
00419623 |
|
|
|
|
Name : |
Mr. Ravishanker Prasad |
|
Designation : |
Director |
|
Address : |
Flat 11, Antariksha 95/96, Kakasaheb Gadgil Marg,
Prabhadevi , Mumbai 400025, Maharashtra, India |
|
Date of Birth/Age : |
February 4, 1956 |
|
Qualification : |
Bachelor’s Degree in Arts and Law. |
|
Experience : |
He has vast experience in marketing, finance, administration and insurance business. |
|
Date of Appointment : |
22.01.2014 |
|
DIN No.: |
06641845 |
|
|
|
|
Name : |
Mr. Mahnaz Amir Curmally |
|
Designation : |
Director |
|
Address : |
61, Suraiya Apartments. 43A, Pochkhanawala Road, Worli
Mumbai 400030, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1946 |
|
Qualification : |
Mrs. Mahnaz A. Curmally has obtained an English Literature Honors degree from Lady Shri Ram College, Delhi University and thereafter acquired a M.A. Degree in Sociology from Bombay University |
|
Brief profile &
nature of her expertise in specific functional areas : |
Mrs. Mahnaz Curmally, with over 40 years of work experience is considered one of the pioneers of corporate and marketing communications in India. She has through the course of her working life, gathered considerable understanding of industries such as infrastructure (power, realty and health); pharmaceutical (MNC and local); FMCG (food, personal care, cosmetics, apparel, household goods); and Travel and Tourism. Currently, Mrs. Mahnaz Curmally is employed as Senior Advisor in one of the largest independent global communications firm, headquartered in Chicago, USA. |
|
Date of Appointment : |
25.07.2014 |
|
DIN No.: |
06907271 |
KEY EXECUTIVES
|
Name : |
Mr. Durgesh Niranjan Nagarkar |
|
Designation : |
Company Secretary |
|
Address : |
B/4, 104, Saket, Kisan Koli Marg Extension Majiwade, Thane
400601, Maharashtra, India |
|
Date of Appointment : |
01.07.2000 |
|
PAN: |
AAHPN1244Q |
|
|
|
|
Name : |
Mr. Sandeep Madhukar Tilak |
|
Designation : |
Chief Finance Officer |
|
Address : |
1/7, Calpana CHS, Sahyog Mandir Road, Naupada, Thane 400602,
Maharashtra, India |
|
Date of Appointment : |
28.05.2014 |
|
PAN: |
ADXPT4840M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of
shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
1900794 |
33.63 |
|
|
(B) Public |
3750766 |
66.37 |
|
|
Grand Total |
5651560 |
100.00 |
Statement showing shareholding pattern of the Promoter and Promoter
Group
|
Category
of shareholder |
Total
nos. shares held |
Shareholding
as a % of total no. of shares (calculated as per SCRR, 1957)As a % of
(A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu
undivided Family |
7,08,302 |
12.53 |
|
|
Nikhil Jaisingh Danani |
3,39,519 |
6.01 |
|
|
Nakul Prahlad Mehta |
1,86,830 |
3.31 |
|
|
Avanti Prahlad Mehta |
72,800 |
1.29 |
|
|
Roshan Nikhil Danani |
41,285 |
0.73 |
|
|
Sita Prahlad Mehta |
40,000 |
0.71 |
|
|
Anand Jaisingh Danani |
19,635 |
0.35 |
|
|
Sanjiv Nemish Shah |
4,560 |
0.08 |
|
|
Shome Nikhil Danani |
2,898 |
0.05 |
|
|
Ela Prakash Mehta |
450 |
0.01 |
|
|
Prakash Vasantlal Mehta |
325 |
0.01 |
|
|
Any Other
(specify) |
11,92,492 |
21.10 |
|
|
Danmet Chemicals Pvt Limited |
4,59,777 |
8.14 |
|
|
Gayatri Education Medical And Research
Foundation Pvt Ltd |
4,50,165 |
7.97 |
|
|
Nasivan Investments Private Limited |
2,82,550 |
5.00 |
|
|
Sub Total A1 |
19,00,794 |
33.63 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
19,00,794 |
33.63 |
|
Statement showing shareholding pattern of the Public shareholder
|
Category
& Name of the Shareholders |
Total
no. shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0.00 |
|
|
|
Mutual Funds/ |
1,07,817 |
1.91 |
|
|
Aditya Birla Sun Life Trustee Private Limited
A/C Aditya Birla Sun Life Pure Value Fund |
1,05,919 |
1.87 |
|
|
Foreign
Portfolio Investors |
50,030 |
0.89 |
|
|
Financial
Institutions/ Banks |
1,07,511 |
1.90 |
|
|
Housing Development Finance Corporation
Limited |
98,657 |
1.75 |
|
|
Insurance
Companies |
6,98,709 |
12.36 |
|
|
Life Insurance Corporation of India |
4,49,911 |
7.96 |
|
|
General Insurance Corporation of India |
1,72,770 |
3.06 |
|
|
National Insurance Company Ltd |
76,028 |
1.35 |
|
|
Sub Total B1 |
9,64,067 |
17.06 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0.00 |
|
|
|
Central
Government/ State Government(s)/ President of India |
17,487 |
0.31 |
|
|
Sub Total B2 |
17,487 |
0.31 |
|
|
B3)
Non-Institutions |
0.00 |
|
|
|
Individual share
capital upto INR 0.200 Million |
18,63,539 |
32.97 |
|
|
Individual share
capital in excess of INR 0.200 Million |
1,22,140 |
2.16 |
|
|
Any Other
(specify) |
7,83,533 |
13.86 |
|
|
Trusts |
100 |
0.00 |
|
|
HUF |
1,42,349 |
2.52 |
|
|
NRI – Non- Repat |
58,121 |
1.03 |
|
|
NRI – Repat |
61,469 |
1.09 |
|
|
Clearing Members |
46,445 |
0.82 |
|
|
Bodies Corporate |
4,75,049 |
8.41 |
|
|
Sub Total B3 |
27,69,212 |
49.00 |
|
|
B=B1+B2+B3 |
37,50,766 |
66.37 |
|
BUSINESS DETAILS
|
Line of Business : |
Subject is one of the leaders in the electrical engineering industry in India. A multi-product, multi-divisional organisation, its main products are transformers, electric motors, magnet technology machines and drives. The Company also undertakes turnkey projects (switchyards). a. Power Systems This segment comprises of the Design, Commissioning and Marketing of Power Transformers; EPC Projects for Electrical Substations including Delivery, Rectification, Commissioning and Servicing of Transformers and Marketing of Maintenance Products. b. Industrial
Systems This segment comprises of the Development, Marketing and Manufacture of a wide range of standard and customized Electric Motors; Magnet Technology Machines and the Engineering and Supply of AC Variable-speed Drives and Drive Systems. [Registered Activity] |
|
|
|
|
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 : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesaler, Retailers, End Users and OEMs
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
922 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Bank of India · IDBI Bank Limited · Citibank N.A. · Standard Chartered Bank ·
HDFC Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Shah LLP Chartered Accountants |
|
|
|
|
Solicitors : |
Malvi Ranchoddas and Company |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises over which
can exercise control or significance influence : |
Danmet Chemicals Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
INR 10/- each |
INR 80.000 Million |
|
200000 |
12% Non-Convertible Redeemable Cumulative Preference
Shares |
INR 100/- each |
INR 20.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5651560 |
Equity Shares |
INR 10/- each |
INR 56.516
Million |
|
|
|
|
|
Details of shares
held by shareholders holding more than 5% of the aggregate shares in the
Company
|
Names of Shareholders |
No. of Shares |
% of holding |
|
Life Insurance Corporation of India |
449911 |
7.96 |
|
Danmet Chemicals Private Limited |
459777 |
8.14 |
|
Gayatri Education Medical & Research Foundation
Private Limited |
450165 |
7.97 |
|
Nikhil J. Danani |
323404 |
5.72 |
Rights, preferences
and restrictions attached to shares Equity Shares:
The Company has one class of equity shares having a par value of ` 10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
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 |
56.516 |
56.516 |
56.516 |
|
(b) Reserves & Surplus |
2864.990 |
2668.913 |
2596.994 |
|
(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) |
2921.506 |
2725.429 |
2653.510 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
14.419 |
12.128 |
10.380 |
|
(d)
long-term provisions |
14.582 |
28.180 |
25.268 |
|
Total
Non-current Liabilities (3) |
29.001 |
40.308 |
35.648 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1775.739 |
1687.238 |
1333.993 |
|
(b)
Trade payables |
1555.195 |
1508.226 |
1548.059 |
|
(c)
Other current liabilities |
446.253 |
356.841 |
332.909 |
|
(d)
Short-term provisions |
98.652 |
101.315 |
89.056 |
|
Total
Current Liabilities (4) |
3875.839 |
3653.620 |
3304.017 |
|
|
|
|
|
|
TOTAL |
6826.346 |
6419.357 |
5993.175 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
711.102 |
759.529 |
832.561 |
|
(ii)
Intangible Assets |
8.576 |
7.661 |
4.449 |
|
(iii)
Capital work-in-progress |
5.626 |
6.280 |
5.187 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
40.133 |
40.133 |
81.167 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
845.249 |
1256.346 |
1206.136 |
|
(e)
Other Non-current assets |
294.410 |
385.420 |
178.820 |
|
Total
Non-Current Assets |
1905.096 |
2455.369 |
2308.320 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
41.034 |
0.000 |
|
(b)
Inventories |
1231.871 |
1060.725 |
911.194 |
|
(c)
Trade receivables |
2235.951 |
2239.288 |
2123.048 |
|
(d)
Cash and cash equivalents |
196.225 |
80.278 |
70.733 |
|
(e)
Short-term loans and advances |
1043.318 |
535.371 |
558.357 |
|
(f)
Other current assets |
213.885 |
7.292 |
21.523 |
|
Total
Current Assets |
4921.250 |
3963.988 |
3684.855 |
|
|
|
|
|
|
TOTAL |
6826.346 |
6419.357 |
5993.175 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
6625.790 |
6395.132 |
6108.870 |
|
|
|
Other Income |
278.562 |
209.270 |
181.804 |
|
|
|
TOTAL (A) |
6904.352 |
6604.402 |
6290.674 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5010.234 |
4756.095 |
4427.537 |
|
|
|
Purchases of Stock-in-Trade |
142.502 |
226.066 |
250.348 |
|
|
|
Changes in Inventories |
(143.986) |
(152.742) |
247.785 |
|
|
|
Employees benefits |
857.005 |
819.348 |
750.577 |
|
|
|
Other expenses |
578.952 |
573.749 |
639.802 |
|
|
|
TOTAL (B) |
6444.707 |
6222.516 |
6316.049 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
459.645 |
381.886 |
(25.375) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
159.482 |
205.605 |
199.505 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
300.163 |
176.281 |
(224.880) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
98.742 |
102.744 |
119.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
201.421 |
73.537 |
(344.314) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.344 |
1.618 |
(3.819) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
196.077 |
71.919 |
(340.495) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Direct Exports on F O B basis |
66.749 |
62.717 |
397.172 |
|
|
|
Services Rendered |
4.804 |
1.941 |
1.882 |
|
|
TOTAL EARNINGS |
71.553 |
64.658 |
399.054 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
99.051 |
98.114 |
135.210 |
|
|
|
Traded Goods |
113.751 |
162.078 |
201.075 |
|
|
|
Components and Spare parts |
0.000 |
0.264 |
1.905 |
|
|
|
Capital Goods |
0.746 |
0.765 |
0.172 |
|
|
TOTAL IMPORTS |
213.548 |
261.221 |
338.362 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
34.69 |
12.73 |
(60.25) |
|
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 |
86.358 |
(59.406) |
(402.159) |
|
|
|
|
|
|
Net Cash inflow/(outflow) from Operating Activities |
132.576 |
(51.037) |
(406.789) |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
1641.700 |
1751.200 |
2277.100 |
|
Total Expenditure |
1678.800 |
1646.600 |
2135.600 |
|
PBIDT (Excl OI) |
(37.100) |
104.600 |
141.500 |
|
Other Income |
49.100 |
50.900 |
40.900 |
|
Operating Profit |
12.000 |
155.500 |
182.400 |
|
Interest |
38.400 |
48.100 |
52.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
(26.400) |
107.400 |
130.300 |
|
Depreciation |
23.900 |
23.600 |
23.100 |
|
Profit Before Tax |
(50.300) |
83.800 |
107.200 |
|
Tax |
(11.600) |
20.400 |
10.700 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(38.700) |
63.400 |
96.500 |
|
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 |
(38.700) |
63.400 |
96.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
123.17 |
127.81 |
126.85 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.96 |
2.86 |
2.88 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
110.16 |
110.49 |
120.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.37 |
0.36 |
(0.03) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.63 |
0.49 |
(0.03) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.57 |
0.57 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.61 |
0.62 |
0.50 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.33 |
1.34 |
1.25 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.25 |
0.28 |
0.32 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.88 |
1.86 |
(0.13) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.96 |
1.12 |
(5.57) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.87 |
1.12 |
(5.68) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
6.71 |
2.64 |
(12.83) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.27 |
1.08 |
1.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.95 |
0.79 |
0.84 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.43 |
0.42 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
31.42 |
29.85 |
23.60 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.27 |
1.08 |
1.12 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
|
|
|
Market Value |
INR 1658.00/- [BSE] |
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 |
56.516 |
56.516 |
56.516 |
|
Reserves & Surplus |
2596.994 |
2668.913 |
2864.990 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2653.510 |
2725.429 |
2921.506 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1333.993 |
1687.238 |
1775.739 |
|
Total
borrowings |
1333.993 |
1687.238 |
1775.739 |
|
Debt/Equity ratio |
0.503 |
0.619 |
0.608 |
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 |
6108.870 |
6395.132 |
6625.790 |
|
|
|
4.686 |
3.607 |
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 |
6108.870 |
6395.132 |
6625.790 |
|
Profit/ (Loss) |
(340.495) |
71.919 |
196.077 |
|
|
-5.57% |
1.12% |
2.96% |
LEGAL CASES
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE:- 16.03.2018 |
|
LODGING NO: NMAL/267/2018 FILING DATE: 16.03.2018 |
|
Main Matter LODGING NO: CEXAL/56/2018 |
|
PETITIONER:
THE COMMISSIONER OF CGST AND CENTR RESPONDENT: BHARAT
BIJLEE LIMITED PETN. ADV.: JITENDRA
B. MISHRA (0)
DISTRICT: MUMBAI |
|
BENCH: SINGLE STATUS: PRE-ADMISSION CATEGORY:
NOTICE OF MOTION (TAX) Next Date:- 19.04.2018 Stage:- FOR REJECTION Coram:- REGISTRAR(OS)/PROTHONOTARY & SR. MASTER REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
ACT: Central Excise & Salt Act |
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE:- 16.03.2018 |
|
LODGING NO: CEXAL/56/2018
Filing Date:
16.03.2018 |
|
PETITIONER:
THE COMMISSIONER OF CGST AND CENTR RESPONDENT: BHARAT
BIJLEE LIMITED PETN. ADV.: JITENDRA
BRIJBHUSAN MISHRA (I2937)
DISTRICT: MUMBAI |
|
BENCH: SINGLE STATUS: PRE-ADMISSION CATEGORY: CENTRAL EXCISE APPEAL (CEXA) Next Date:- 19.04.2018 Stage:- FOR REJECTION Coram:- REGISTRAR(OS)/PROTHONOTARY & SR. MASTER
|
|
ACT: Central Excise & Salt Act Under Section: 35 G |
|
HIGH COURT OF GUJARAT |
|
CIVIL APPLICATION (FOR STAY) No. 15305 of 2017 |
|
In FIRST APPEAL / 3842 / 2017 ( PENDING ) |
|
Last Listing Date: 06.03.2018
|
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
1 |
ABB INDIA LIMITED |
HARDIK A SHAH for: Applicant(s) |
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
|
1 |
BHARAT BIJLEE LIMITED |
M/S WADIAGHANDY & CO for :Respondent(s) |
|
Presented On |
: 15/11/2017 |
Registered On |
: 22/11/2017 |
|
Bench Category |
: DIVISON BENCH |
District |
: MAHESANA |
|
Case Originated From |
: THROUGH HIS/HER/THEIR ADVOCATE |
Listed |
: 8 times |
|
StageName |
: ADMISSION AT 11:00 A.M. |
||
|
Classification |
DB - CIVIL APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - STAY /
INTERIM RELIEF - IN FIRST APPEAL |
|
Act |
CIVIL PROCEDURE CODE, 1908 |
LowerCourt Details
|
S.No. |
LowerCourt
CaseDetail |
LowerCourtName |
JudgeName |
Judgmentdate |
|
1 |
COMMERCIAL CIVIL
SUIT/138/2016 |
CIVIL COURT,
VADODARA |
- |
13/10/2017 |
|
2 |
SUMMARY SUIT -
SPECIAL/60/2013 |
CIVIL COURT,
VADODARA |
- |
13/10/2017 |
Office Details
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
15/11/2017 |
VAKALATNAMA FILED IN MAIN MATTER |
JAYANI B SHAH ADVOCATE |
0 |
HARDIK A SHAH(8217) for P:1 |
|
2 |
15/11/2017 |
VAKALATNAMA FILED IN MAIN MATTER |
HARDIK A SHAH ADVOCATE |
0 |
JAYANI B SHAH(8495) for P:1 |
|
3 |
15/11/2017 |
VAKALATNAMA FILED IN MAIN MATTER |
MR SHAILESH V RAVAL ADVOCATE |
0 |
MR SHAILESH V RAVAL(2953) for P:1 - 2 |
|
4 |
15/11/2017 |
MEMO OF PETITION/APPEAL/SUIT |
JAYANI B SHAH ADVOCATE |
20 |
HARDIK A SHAH(8217), JAYANI B SHAH(8495), for P:1 |
|
5 |
15/11/2017 |
MEMO OF PETITION/APPEAL/SUIT |
MR SHAILESH V RAVAL ADVOCATE |
20 |
MR SHAILESH V RAVAL(2953), for P:1 - 2 |
|
6 |
15/12/2017 |
CAVEAT |
M/S WADIAGHANDY & CO CAVEATOR |
- |
M/S WADIAGHANDY & CO(5679), as CAVEATOR for R:1 |
Court Proceedings
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
18/12/2017 |
2 |
20 |
URGENT ADMISSION
(FRESH MATTERS) |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE
MR.JUSTICE BIREN VAISHNAV |
|
2 |
27/12/2017 |
2 |
75 |
URGENT ADMISSION
(ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE
BIREN VAISHNAV |
|
3 |
16/01/2018 |
2 |
52 |
URGENT ADMISSION
(ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE
MR.JUSTICE BIREN VAISHNAV |
|
4 |
30/01/2018 |
2 |
41 |
URGENT ADMISSION
(ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE
MR.JUSTICE BIREN VAISHNAV |
|
5 |
31/01/2018 |
2 |
54 |
URGENT ADMISSION
(ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE
MR.JUSTICE BIREN VAISHNAV |
|
6 |
08/02/2018 |
2 |
41 |
URGENT ADMISSION
(ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE
MR.JUSTICE ANANT S. DAVE and HONOURABLE MR.JUSTICE R.P.DHOLARIA and
HONOURABLE MR.JUSTICE BIREN VAISHNAV and HONOURABLE MR.JUSTICE A.Y. KOGJE |
|
7 |
22/02/2018 |
2 |
47 |
URGENT ADMISSION
(ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE
MR.JUSTICE A.Y. KOGJE |
|
8 |
23/02/2018 |
2 |
4 |
URGENT ADMISSION
AT 11:00 A.M. |
NEXT DATE |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE
A.Y. KOGJE |
|
9 |
06/03/2018 |
2 |
- |
URGENT ADMISSION
AT 11:00 A.M. |
HONOURABLE
MR.JUSTICE M.R. SHAH HONOURABLE
MR.JUSTICE A.Y. KOGJE |
Available Orders
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgement |
Questions |
Transferred |
|
1 |
FIRST APPEAL/3842/2017 |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE BIREN VAISHNAV |
18/12/2017 |
N |
ORDER |
- |
Y |
|
2 |
FIRST APPEAL/3842/2017 |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE A.Y. KOGJE |
08/02/2018 |
N |
ORDER |
- |
Y |
|
HIGH COURT OF GUJARAT |
|
FIRST APPEAL No. 3842 of 2017 |
|
Status : PENDING |
( Converted from : C/FAST/3757/2017 ) |
CCIN No : 001012201703842 |
|
||||
|
|
S.NO. |
Name of the
Petitioner |
Advocate On
Record |
|
1 |
ABB INDIA LIMITED |
HARDIK A SHAH for: Appellant(s) |
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
|
1 |
BHARAT BIJLEE LIMITED |
M/S WADIAGHANDY & CO for :Defendant(s) |
|
Presented On |
: 15/11/2017 |
Registered On |
: 22/11/2017 |
|
Bench Category |
: DIVISON BENCH |
District |
: VADODARA |
|
Case Originated From |
: THROUGH HIS/HER/THEIR ADVOCATE |
Listed |
: 8 times |
|
StageName |
: URGENT ADMISSION AT 11:00 A.M. |
||
|
Classification |
DB - FA - COMMERCIAL - CONTRACTS OF AGENCY RELATING TO ANY OF THE
COMMERCIAL DIPUTES |
|
Act |
COMMERCIAL COURTS, COMMERCIAL DIVISION AND COMMERCIAL APPELLATE
DIVISION OF HIGH COURTS ACT, 2015 |
LowerCourt Details
|
S.No. |
LowerCourt CaseDetail |
LowerCourtName |
JudgeName |
Judgmentdate |
|
1 |
COMMERCIAL CIVIL SUIT/138/2016 |
CIVIL COURT, VADODARA |
- |
13/10/2017 |
|
2 |
SUMMARY SUIT - SPECIAL/60/2013 |
CIVIL COURT, VADODARA |
- |
13/10/2017 |
Office Details
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
15/11/2017 |
VAKALATNAMA |
HARDIK A SHAH ADVOCATE |
0 |
JAYANI B SHAH(8495) for P:1 |
|
2 |
15/11/2017 |
VAKALATNAMA |
JAYANI B SHAH ADVOCATE |
5 |
HARDIK A SHAH(8217) for P:1 |
|
3 |
15/11/2017 |
MEMO OF PETITION/APPEAL/SUIT |
JAYANI B SHAH ADVOCATE |
5 |
HARDIK A SHAH(8217), JAYANI B SHAH(8495), for P:1 |
|
4 |
15/11/2017 |
CERTIFIED COPY |
JAYANI B SHAH ADVOCATE |
15 |
HARDIK A SHAH(8217), JAYANI B SHAH(8495), for P:1 |
|
5 |
22/11/2017 |
ADDITIONAL FEE ON MEMO OF APPEAL/PETITION/SUIT |
JAYANI B SHAH ADVOCATE |
75000 |
HARDIK A SHAH(8217),JAYANI B SHAH(8495) for P:1 |
|
6 |
13/12/2017 |
PAPER BOOK |
JAYANI B SHAH ADVOCATE |
0 |
JAYANI B SHAH(8495) for P:1 |
|
7 |
15/12/2017 |
CAVEAT |
M/S WADIAGHANDY & CO CAVEATOR |
- |
M/S WADIAGHANDY & CO(5679), as CAVEATOR for R:1 |
Linked Matters
|
S. No. |
CaseDetail |
Status Name |
Disposal Date |
Action/Coram |
|
1 |
CIVIL APPLICATION/15305/2017 |
PENDING |
- |
- HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE A.Y. KOGJE |
Applications
|
S. No. |
CaseDetail |
Status Name |
Disposal Date |
Action/Coram |
|
1 |
CIVIL APPLICATION/15305/2017 |
PENDING |
- |
- HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE A.Y. KOGJE |
Court Proceedings
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
18/12/2017 |
2 |
20 |
URGENT ADMISSION (FRESH MATTERS) |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE BIREN VAISHNAV |
|
2 |
27/12/2017 |
2 |
75 |
URGENT ADMISSION (ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE BIREN VAISHNAV |
|
3 |
16/01/2018 |
2 |
52 |
URGENT ADMISSION (ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE BIREN VAISHNAV |
|
4 |
30/01/2018 |
2 |
41 |
URGENT ADMISSION (ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE BIREN VAISHNAV |
|
5 |
31/01/2018 |
2 |
54 |
URGENT ADMISSION (ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE BIREN VAISHNAV |
|
6 |
08/02/2018 |
2 |
41 |
URGENT ADMISSION (ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE SMT. JUSTICE ABHILASHA KUMARI and HONOURABLE MR.JUSTICE
BIREN VAISHNAV and HONOURABLE MR.JUSTICE A.Y. KOGJE |
|
7 |
22/02/2018 |
2 |
47 |
URGENT ADMISSION (ADJOUNRED MATTERS) |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE A.Y. KOGJE |
|
8 |
23/02/2018 |
2 |
4 |
URGENT ADMISSION AT 11:00 A.M. |
NEXT DATE |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE A.Y. KOGJE |
|
9 |
06/03/2018 |
2 |
- |
URGENT ADMISSION AT 11:00 A.M. |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE A.Y. KOGJE |
Available Orders
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgement |
Questions |
Transferred |
|
1 |
FIRST APPEAL/3842/2017 |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE BIREN VAISHNAV |
18/12/2017 |
N |
ORDER |
- |
Y |
|
2 |
FIRST APPEAL/3842/2017 |
HONOURABLE MR.JUSTICE M.R. SHAH HONOURABLE MR.JUSTICE A.Y. KOGJE |
08/02/2018 |
N |
ORDER |
- |
Y |
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 |
Yes |
|
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 |
A86787124 |
80026583 |
BANK OF INDIA (LEAD BANK) |
30/12/1982 |
20/05/2010 |
- |
3950000000.0 |
MUMBAI LARGE CORPORATE BRANCHBOI BLDG, 4TH FLOOR, 70-80, M.G. ROAD, FORT,MUMBAIMH400001IN |
|
2 |
A68130202 |
80055498 |
HOUSING DEVELOPMENT FINANCE CORP. LTD. |
01/03/2004 |
- |
17/08/2009 |
140000000.0 |
RAMON HOUSE, 169,BACKBAY RECLAMATIONMUMBAIMH400020IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Short Term Loans from Banks |
1487.935 |
1245.000 |
|
|
|
|
|
Total |
1487.935 |
1245.000 |
GENERAL INFORMATION
Subject is one of the leaders in the electrical engineering industry in India. A multi-product, multi-divisional organisation, its main products are transformers, electric motors, magnet technology machines and drives. The Company also undertakes turnkey projects (switchyards). The Company has a well-established all-India marketing network that ensures responsive pre and after sales service.
GENERAL OUTLOOK OF
INDUSTRY AND ECONOMY:
The waiting game continues for the capital goods recovery in the domestic market. While there have been signs of recovery in the past few months, these are still early days to infer whether this is a sustainable recovery or just a post-demonetization adjustment. In any case, the margins still elude them to make a meaningful and profitable business recovery.
During the year, they have focused on building their order book and ensuring that their customer reach is not impacted despite the poor market conditions. They continue to enhance our design capabilities and supply chain efficiencies.
OPERATIONS:
The capital goods industry continues to remain stagnated and investment recovery is still some way away for the Indian market.
It is in this background that the Company’s operations need to be seen. Income from Sales and Services for the Company increased from INR 7138.114 Million in the previous year to INR 7348.092 Million, a rise of 3%.
The concentrated efforts to reach deeper into the markets, do cherry picking while accepting the orders and the value engineering helped the Company to make a profit before exceptional items and tax of INR 201.421 Million as against INR 73.537 Million in the previous year.
FINANCE:
Tighter working capital management, positive cash flow from operations and lower interest rates negotiated with the banks enabled the Company to reduce the finance cost by INR 46.100 Million compared to the previous year. The Free Reserves of the Company as on March 31, 2017 increased by INR 196.077 Million to INR 2864.990 Million.
During the year INR 1.122 Million was transferred to the Investor Education and Protection Fund.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Disputed Sales Tax Demands |
20.455 |
34.475 |
|
Disputed Excise Duty Demands |
25.271 |
26.388 |
|
Disputed Custom Duty Demand |
12.612 |
12.612 |
|
Disputed Income Tax Demands |
2.801 |
2.801 |
|
It is not practicable for the Company to estimate the timings of cash outflows, if any, in respect of the above pending resolution of the respective proceedings. |
||
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS
ENDED 31.12.2017
[INR
IN MILLION]
|
Sr. No. |
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Income
from operations |
|
|
|
|
|
a)
Revenue from Operations |
2277.100 |
1751.200 |
5670.000 |
|
|
b)
Other Operating Income |
40.900 |
50.900 |
140.900 |
|
|
Total
Income from Operations |
2318.000 |
1802.100 |
5810.900 |
|
|
|
|
|
|
|
2. |
Expenses |
|
|
|
|
|
Cost
of materials consumed |
1463.400 |
1340.200 |
3983.400 |
|
|
Purchase
of traded goods |
29.600 |
22.300 |
55.000 |
|
|
Changes
in inventories of finished goods, work-in-progress
and traded goods |
180.800 |
(101.900) |
7.400 |
|
|
Excise
Duty |
--- |
--- |
158.200 |
|
|
Finance
Cost |
217.500 |
216.300 |
657.900 |
|
|
Employee
benefits expense |
52.100 |
48.100 |
138.600 |
|
|
Depreciation
and amortisation expense |
23.100 |
23.600 |
70.600 |
|
|
Other
expenses |
244.300 |
169.700 |
599.100 |
|
|
Total Expenses |
2210.800 |
1718.300 |
5670.200 |
|
|
|
|
|
|
|
3. |
Profit
before tax |
107.200 |
83.800 |
140.700 |
|
4. |
Tax
expense |
|
|
|
|
|
Current
Tax |
22.600 |
6.800 |
29.400 |
|
|
Deferred
Tax |
(11.900) |
13.000 |
(10.500) |
|
|
Short/(Excess)
Provision for Tax for earlier years |
--- |
0.600 |
0.600 |
|
5. |
Profit after tax |
96.500 |
63.400 |
121.200 |
|
6. |
Other Comprehensive Income |
|
|
|
|
|
Items
that will not be reclassified to profit or loss [net of tax] |
85.200 |
(217.800) |
92.200 |
|
7. |
Total Comprehensive Income |
181.700 |
(154.400) |
213.400 |
|
8. |
Paid
- up Equity Share Capital (Face
value of INR 10/- per share) |
56.500 |
56.500 |
56.500 |
|
9. |
Basic and diluted
EPS Earnings Per Share (EPS) |
17.07 |
11.22 |
21.45 |
SEGMENTWISE REVENUE, RESULT, ASSETS AND LIABILITIES FOR THE QUARTER AND
NINE MINTHS ENDED 31.12.2017
|
Sr. No. |
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
Revenue from Operations |
|
|
|
|
|
Power Systems |
1483.500 |
969.700 |
3376.400 |
|
|
Industrial Systems |
793.600 |
781.500 |
2293.600 |
|
|
Net Sales/
Income from Operations |
2277.100 |
1751.200 |
5670.000 |
|
|
|
|
|
|
|
2. |
Segment Results |
|
|
|
|
|
Profit/ [Loss] before Finance Costs and Tax |
|
|
|
|
|
Power Systems |
136.000 |
86.900 |
250.500 |
|
|
Industrial Systems |
70.300 |
68.300 |
137.800 |
|
|
Total |
206.300 |
155.200 |
388.300 |
|
|
Less: |
|
|
|
|
|
Finance Costs |
52.100 |
48.100 |
138.600 |
|
|
Unallocable Expenses not of un-allocable income |
47.000 |
23.300 |
109.000 |
|
|
Profit/ [Loss]
before Tax |
107.200 |
83.800 |
140.700 |
|
|
|
|
|
|
|
3. |
Segment Assets |
|
|
|
|
|
Power Systems |
3525.900 |
2798.600 |
3525.900 |
|
|
Industrial Systems |
1636.200 |
1564.000 |
1636.200 |
|
|
Unallocable Assets |
6223.300 |
5986.900 |
6223.300 |
|
|
Total Segment
Assets |
11385.400 |
10349.500 |
11385.400 |
|
|
|
|
|
|
|
4. |
Segment
Liabilities |
|
|
|
|
|
Power Systems |
1502.100 |
1183.000 |
1502.100 |
|
|
Industrial Systems |
733.300 |
654.400 |
733.300 |
|
|
Unallocable Assets |
2423.600 |
1967.400 |
2423.600 |
|
|
Total Segment
Liabilities |
4659.000 |
3804.800 |
4659.000 |
NOTES:
1. The Company has adopted Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013, read with the relevant rules issued there under, from 1st April, 2017 and accordingly, the unaudited financial results (including figures for the quarter and nine months ended 31st December, 2016) have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 “Interim Financial Reporting” and the other accounting principles generally accepted in India.
2. The above statement of Financial results has been reviewed by the Audit
Committee and approved by the Board of Directors at its meeting held on 24th
January, 2018. The Statutory Auditors have carried out Limited Review of the
above financial results.
3. Revenue from operations upto 30th June, 2017 includes excise duty, which is
discontinued effective 1st July, 2017 upon implementation of Goods and Services
Tax (GST) in India. In accordance with 'Ind AS-18, Revenue', GST is not
included in revenue from operations. In view of the aforesaid restructuring of
indirect taxes, revenue from operations for the quarter and nine months ended
31st December, 2017 are not comparable with the previous periods.
4. The format for unaudited financial results as prescribed in SEBI's circular
CIR/CFD/CMD/15/2015 dated 30th November,2015 has been modified to comply with
the requirements of SEBI's circular CIR/CIF/FAC/62/2016 dated 5th July, 2016,
Ind AS and Schedule III ( Division II ) to the Companies Act, 2013, which are
applicable to companies that are required to comply with Ind AS.
5. Reconciliation of net profit for the quarter and nine months ended 31st
December, 2016 under Indian GAAP (Previous GAAP) and Ind AS is as under:
|
Particulars |
Quarter ended 31.12.2016 |
Nine months ended 31.12.2016 |
|
|
[Unaudited] |
[Unaudited] |
|
Net loss after tax
for the quarter as per Previous GAAP |
42.800 |
93.400 |
|
Adjustments for
GAAP Differences: |
|
|
|
i. Reclassification of actuarial gain in respect of Defined
Benefit Plan to |
(3.800) |
(11.400) |
|
ii. Reversal of gain recognised on sale of mutual funds
under Previous |
--- |
(11.200) |
|
iii. Reversal of Provision for Expected Credit Loss |
3.400 |
6.800 |
|
iv. Deferred Tax Asset Recognised/ (derecognised) |
(9.200) |
(0.500) |
|
Net loss after tax
for the quarter as per Ind AS |
33.200 |
77.100 |
|
Other Comprehensive
Income |
|
|
|
i. Reclassification of actuarial gain in respect of Defined Benefit Plan (net of tax) |
2.500 |
7.400 |
|
ii. Change in Fair value of investments in Equity instruments |
(337.000) |
123.900 |
|
Total Comprehensive
Income |
(301.300) |
208.400 |
6. Subsequent to the quarter end, MIDC, the lessor has paid to the Company, the
lessee, a sum of Rs.4679 lakhs towards compensation for acquisition of a part
of its factory land situated at Airoli, Navi Mumbai for a proposed road
project.
FIXED ASSETS:
· Leasehold Land
· Buildings Incl. Roads+
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· Motor Vehicles
· Application Software
·
Technical Know-how
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 records 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
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.45 |
|
UK Pound |
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.