|
|
|
MIRA INFORM REPORT
|
Report No. : |
504394 |
|
Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
HAL OFFSHORE LIMITED |
|
|
|
|
Registered
Office : |
25, Bazar Lane, Bengali Market, New Delhi-110001, India |
|
Tel. No.: |
91-11-43585000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
17.12.1996 |
|
|
|
|
Com. Reg. No.: |
55-083879 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 190.687 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24298DL1996PLC083879 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAACH3144B1Z8 |
|
|
|
|
TIN No: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH3144B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company mainly operates in Multi
Support Vessel, providing support services including marine, construction and
diving services, execution of EPIC contracts and trading of shares. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 5700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1996 and it is having a fine track record. Management has failed to file its financials for the year 2017 with Registrar of Companies. For the financial year 2016, the company has reported a marginal dip in its revenue as compared to its previous year but has maintained average profit margin during the year. Rating takes into consideration, the healthy financial risk profile marked by rising scale of operation and strong liquidity position. Rating continue to derive strength from its long and established track record of its business operation backed by well-experienced management team. However, these rating strengths gets partially offset by concentration risk from offshore vessels along with foreign exchange fluctuation risk, high working capital utilization and cyclical nature of the oil and gas exploration industry in turn affecting the offshore industry. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealing at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Ratings (BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
06.04.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Ratings (A3+) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
06.04.2018 |
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
31-03-2018.
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 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 DENIED BY
|
Name : |
Mr. Rakesh |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-42369200 |
|
Date : |
16.04.2018 |
91-11-43585000 (Ringing)
LOCATIONS
|
Registered Office : |
25, Bazar Lane, Bengali Market, New Delhi-110001, India |
|
Tel. No.: |
91-11-43585000 |
|
Fax No.: |
91-11-43585015 |
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E-Mail : |
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|
Website : |
|
|
|
|
|
Corporate Office : |
32 Corporate Avenue, 4th Floor, B Wing, Near Paper Box Industry, Off. Mahakali Caves Road, Andheri (East), Mumbai- 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-4236 9200 / 4236 9228 |
|
Fax No.: |
91-22-66750390/ 42369235 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mrs. Divya Mehrotra |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
C-561, Defence Colony, New Delhi -110024, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.05.1973 |
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Date of Appointment : |
21.03..2015 |
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|
Qualification : |
Graduate |
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|
PAN No.: |
AAXPM5343D |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No: |
00006494 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Vijay Kumar Gupta |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
162-B, Pocket C, Sidharth Extension, New Delhi -110014, india |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.02.1948 |
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Date of Appointment : |
31.05.2014 |
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|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
ACBPG9512G |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No: |
00022885 |
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Other Directorship:
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|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vineet Saran Agrawal |
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|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Rustomjee Elanza, A-2101, Off Link Road, Near Inorbit Mall, Malad
(West), Mumbai-400064, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.01.1974 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.102014 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ADUPA0440R |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No: |
06993827 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kamal Narayan Rathi |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
96, Ground Floor, New Bhiwandi House, A. K. Marg, Kemps Corner,
Mumbai-400036, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.05.1952 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.10.2014 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AACPR2919P |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No: |
06994787 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Naveen Mohta |
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|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 1901, 19th Floor, E-Wing, Anmol Off, S V Road, Goregaon
(West), Mumbai-400104, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.07.1973 |
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Date of Appointment : |
30.10.2014 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AGGPM9393Q |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No: |
07027180 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Pratibha Gupta and Associates |
|
Designation : |
Company Secretary |
|
Address : |
B-2, 2nd Floor, Joshi Colony, I.P. Extension, Patparganj,
New Delhi – 110092, India |
|
Mob. No: |
91-9716485737 |
|
Email: |
|
|
|
|
|
Name : |
Shipra Khitha and Associates |
|
Designation : |
Secretarial Auditors Firm |
|
Address : |
F-24/52, Sector – 7, Rohini, Delhi, India |
|
PAN No.: |
AIBPG3952G |
|
|
|
|
Name : |
Mr. Rakesh |
|
Designation : |
Finance Department |
|
Name : |
Mr. Subrat Das |
|
Designation : |
Chief Finance Officer |
|
Address : |
3049, Pocket-4, Sector-B, Vasant Kunj, New Delhi-110070, India |
|
Date of Birth/Age : |
18.05.1963 |
|
Date of Appointment : |
22.02.2016 |
|
Qualification : |
C.A. |
|
PAN No.: |
AHUPD5886C |
|
|
|
|
Name : |
Mrs. Sheetal Bansal |
|
Designation : |
Company Secretary |
|
Address : |
20-A, Gali No. 1, Master Block, Shakerpur, Delhi- 110091, India |
|
Date of Birth/Age : |
09.09.1983 |
|
Date of Appointment : |
24.06.2015 |
|
Qualification : |
Company Secretary |
|
PAN No.: |
BFTPB9724B |
MAJOR SHAREHOLDERS
As on 31.03.2017
Note: SHARE HOLDER FILES ARE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
31.69 |
|
Promoters (Financial institutions) |
29.85 |
|
Promoters (Body corporate) |
30.87 |
|
Public/Other than promoters (Body corporate) |
7.59 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The Company mainly operates in
Multi Support Vessel, providing support services including marine, construction
and diving services, execution of EPIC contracts and trading of shares. (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
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|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Kamal and Company Chartered Accountants |
|
Address : |
1372, Kashmere Gate, Delhi – 110006, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPG3907C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Other Related Parties (As on 31.03.2016): |
Aarey Organic Industries Private Limited (U24110MH1992PTC065089) |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19068660 |
Equity Shares |
INR 10/- each |
INR 190.687 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
190.687 |
190.687 |
105.937 |
|
(b) Reserves and Surplus |
1797.431 |
1657.375 |
896.616 |
|
(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) |
1988.118 |
1848.062 |
1002.553 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2108.802 |
2341.804 |
0.357 |
|
(b) Deferred tax liabilities (Net) |
2.843 |
2.666 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2111.645 |
2344.470 |
0.357 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
520.126 |
472.355 |
460.531 |
|
(b) Trade
payables |
177.937 |
765.625 |
677.729 |
|
(c) Other
current liabilities |
115.134 |
136.161 |
278.413 |
|
(d) Short-term
provisions |
196.250 |
134.250 |
94.250 |
|
Total Current
Liabilities (4) |
1009.447 |
1508.391 |
1510.923 |
|
|
|
|
|
|
TOTAL |
5109.210 |
5700.923 |
2513.833 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
434.750 |
522.474 |
587.506 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
201.144 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
102.000 |
0.000 |
134.481 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
10.316 |
11.553 |
7.588 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
748.210 |
534.027 |
729.575 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
301.079 |
0.000 |
0.000 |
|
(b)
Inventories |
1522.195 |
2494.495 |
0.000 |
|
(c) Trade
receivables |
387.300 |
723.094 |
497.276 |
|
(d) Cash and
bank balances |
880.522 |
713.298 |
538.815 |
|
(e)
Short-term loans and advances |
897.116 |
932.334 |
500.447 |
|
(f) Other
current assets |
372.788 |
303.675 |
247.720 |
|
Total
Current Assets |
4361.000 |
5166.896 |
1784.258 |
|
|
|
|
|
|
TOTAL |
5109.210 |
5700.923 |
2513.833 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3517.640 |
3663.805 |
3371.851 |
|
|
Other Income |
78.865 |
58.566 |
55.271 |
|
|
TOTAL |
3596.505 |
3722.371 |
3427.122 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2772.541 |
2991.530 |
530.207 |
|
|
Employee benefit expense |
93.997 |
93.578 |
73.335 |
|
|
CSR expenditure |
2.234 |
1.798 |
0.000 |
|
|
Other expenses |
113.065 |
100.703 |
2450.912 |
|
|
TOTAL |
2981.837 |
3187.609 |
3054.454 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
614.668 |
534.762 |
372.668 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
322.149 |
306.234 |
118.124 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
292.519 |
228.528 |
254.544 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
90.286 |
102.583 |
133.225 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
202.233 |
125.945 |
121.319 |
|
|
|
|
|
|
|
Less |
TAX |
62.177 |
42.666 |
41.250 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
140.056 |
83.279 |
80.069 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
7.345 |
4.367 |
4.199 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
174.331 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1394.109 |
(2635.635) |
341.659 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
1289.630 |
(2761.413) |
306.023 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
40.19 |
72.04 |
53.83 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
9.08 |
5.07 |
6.78 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
23.43 |
93.41 |
466.56 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.40 |
0.21 |
0.00 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.97 |
1.02 |
0.63 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.61 |
0.68 |
0.67 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.32 |
1.52 |
0.63 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.51 |
0.82 |
1.51 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.32 |
0.28 |
0.59 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
1.91 |
1.75 |
3.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
3.98 |
2.27 |
2.37 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
2.74 |
1.46 |
3.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
7.04 |
4.51 |
7.99 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
4.32 |
3.43 |
1.18 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
2.81 |
1.77 |
1.18 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.39 |
0.32 |
0.40 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
13.79 |
14.76 |
6.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
4.32 |
3.43 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
105.937 |
190.687 |
190.687 |
|
Reserves & Surplus |
896.616 |
1657.375 |
1797.431 |
|
Net
worth |
1002.553 |
1848.062 |
1988.118 |
|
|
|
|
|
|
Long-term borrowings |
0.357 |
2341.804 |
2108.802 |
|
Short term borrowings |
460.531 |
472.355 |
520.126 |
|
Total
borrowings |
635.219 |
2814.159 |
2628.928 |
|
Debt/Equity
ratio |
0.634 |
1.523 |
1.322 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3371.851 |
3663.805 |
3517.640 |
|
|
|
8.659 |
(3.989) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3371.851 |
3663.805 |
3517.640 |
|
Profit/ (Loss) |
80.069 |
83.279 |
140.056 |
|
|
2.37
% |
2.27
% |
3.98
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
190.687 |
190.687 |
|
(b) Reserves and Surplus |
4390.662 |
4255.021 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
|
(d) Minority interest |
1108.208 |
1102.436 |
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4581.349 |
4445.708 |
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
(a) long-term borrowings |
2108.801 |
2341.804 |
|
(b) Deferred tax liabilities (Net) |
2.843 |
2.666 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2111.644 |
2344.470 |
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
(a) Short-term
borrowings |
801.209 |
599.663 |
|
(b) Trade
payables |
1260.625 |
701.073 |
|
(c) Other
current liabilities |
244.481 |
429.478 |
|
(d) Short-term
provisions |
207.359 |
244.090 |
|
Total Current
Liabilities (4) |
2513.674 |
1974.304 |
|
|
|
|
|
TOTAL |
10314.875 |
9866.918 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1)
Non-current assets |
|
|
|
(a) Fixed
Assets |
|
|
|
(i)
Tangible assets |
2157.275 |
2681.989 |
|
(ii)
Intangible Assets |
4.165 |
5.834 |
|
(iii) Tangible assets
capital work-in-progress |
204.710 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
|
(b) Non-current Investments |
402.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
30.317 |
30.684 |
|
(e) Other
Non-current assets |
198.183 |
211.430 |
|
Total Non-Current
Assets |
2996.650 |
2929.937 |
|
|
|
|
|
(2)
Current assets |
|
|
|
(a)
Current investments |
301.079 |
70.148 |
|
(b)
Inventories |
518.901 |
464.426 |
|
(c) Trade
receivables |
2190.512 |
1482.510 |
|
(d) Cash and
bank balances |
2483.282 |
3412.429 |
|
(e)
Short-term loans and advances |
927.526 |
969.435 |
|
(f) Other
current assets |
896.925 |
538.033 |
|
Total
Current Assets |
7318.225 |
6936.981 |
|
|
|
|
|
TOTAL |
10314.875 |
9866.918 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
Total
Revenue from operations |
5671.139 |
6365.895 |
|
|
Other Income |
265.277 |
1004.515 |
|
|
TOTAL |
5936.416 |
7370.410 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
4195.991 |
4700.718 |
|
|
Employee benefit expense |
182.418 |
163.995 |
|
|
Expenditure on production, transportation
and Other expenditure pertaining to
exploration and production activities |
5.643 |
21.423 |
|
|
CSR expenditure |
3.784 |
3.448 |
|
|
Other expenses |
266.532 |
275.947 |
|
|
TOTAL |
4654.368 |
5165.531 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1282.048 |
2204.879 |
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
307.407 |
241.595 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
974.641 |
1963.284 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
561.993 |
557.052 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
412.648 |
1406.232 |
|
|
|
|
|
|
Less |
TAX |
114.996 |
102.876 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
297.652 |
1303.356 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
15.609 |
68.351 |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from “Superior House" 48, Todar Mal Road, Bengali Market, New Delhi – 110001, India” to the present address w.e.f. 15.01.2009.
PERFORMANCE REVIEW
AND FUTURE OUTLOOK
During the year, the Company has earned a Net profit after tax of INR 140.050 Million as compared to profit of the last year of INR 83.270 Million. The details of financial performance of the company are appearing in the Balance Sheet and Profit & Loss account for the year.
In the current year, turnover is marginally lower side as contract for one vessel (taken on lease) expired during the year and the vessel returned to the owner. In spite of lower turnover net profit increased due to better management and cost control. With large orders in hand. The Company will do better in current year. The outlook for the current Year is very bright and the Directors are hopeful of better position during the current year.
CORPORATE INFORMATION
Subject is Public Company incorporated under Companies Act, 1956. The Company mainly operates in Multi Support Vessel, providing support services including marine, construction and diving services, execution of EPIC contracts and trading of shares. The subsidiary Seamec Limited is a limited Company listed on two stock exchanges in India.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G54454152 |
100124867 |
HDFC BANK LIMITED |
01/09/2017 |
- |
- |
500000000.0 |
HDFC Bank House, Senapati Bapat Marg,Lower Parel (West)MumbaiMH400013IN |
|
2 |
G73125205 |
100152025 |
HDFC BANK LIMITED |
29/07/2017 |
- |
- |
39900000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
G28850857 |
100064676 |
HDFC BANK LIMITED |
09/11/2016 |
- |
- |
750000000.0 |
HDFC Bank House, Senapati Bapat Marg,Lower Parel (West)MumbaiMH400013IN |
|
4 |
G28851699 |
100064678 |
HDFC BANK LIMITED |
09/11/2016 |
- |
- |
750000000.0 |
HDFC Bank House, Senapati Bapat Marg,Lower Parel (West)MumbaiMH400013IN |
|
5 |
G14606651 |
100055758 |
ICICI BANK LIMITED |
09/05/2016 |
- |
- |
5292309.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGu390015IN |
|
6 |
C52661683 |
10567481 |
PUNJAB NATIONAL BANK |
21/03/2015 |
- |
- |
20000000.0 |
BRANCH CIVIL LINESDELHIDELHIDL110054IN |
|
7 |
C17035510 |
80000213 |
Punjab National Bank |
15/10/1998 |
10/06/2014 |
- |
4876000000.0 |
Alipur Raod , Civil LinesNew DelhiNew DelhiDL110054IN |
|
8 |
C75479832 |
10360935 |
ING VYSYA BANK LIMITED |
28/04/2012 |
- |
22/12/2015 |
100000000.0 |
NARIAN MANZIL,GROUND FLOOR,SHOP NO. G1 TO G5,I FLOOR,SHOP NO.1001 TO 1007,BARAKHAMBA ROAD,NEW DELHIDL110001IN |
|
9 |
C75437509 |
10283250 |
Allahabad Bank |
08/04/2011 |
- |
15/12/2015 |
465000000.0 |
International Branch17, Parliament Street,New DelhiDL110001IN |
|
10 |
C73219529 |
10054747 |
PUNJAB NATIONAL BANK |
26/04/2007 |
22/08/2008 |
01/12/2015 |
690000000.0 |
CIVIL LINESNEW DELHIDL110053IN |
CONTINGENT
LIABILITIES:
(a) Any demand that may be raised by Income Tax Authorities on completion of pending assessments
(b) Any demand that may be raised by Service Tax authorities on Final assessment of Service Tax.
(c) Contingent liability exists in respect of interest/penalty in the case of appeals pending with Service Tax authorities.
(d) Any demand that may be raised by Custom authorities on Final assessment of Custom Duty.
(e) Sales tax proceedings are pending for final assessment.
(f) Delay in deposit of P.F, E.S.I, Professional Tax and TDS in a few cases and any subsequent demand that may arise on regular assessment.
(g) Balance consideration for INR 232.000 Million (Previous year INR 232.000 Million) to be paid against property purchase on demand basis.
(h) Capital commitment as of 31st March 2016 is INR 337.090 Million (Net of advance INR 617.590 million)
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Ships vessels
- Office equipment
- Computer
Accessories
- Computer
Software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.45 |
|
|
1 |
INR 93.28 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.