|
|
|
MIRA INFORM REPORT
|
Report No. : |
503776 |
|
Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TCP LIMITED (w.e.f 27.01.1998) |
|
|
|
|
Formerly Known
As : |
TAMILNADU CHEMICAL PRODUCTS LIMITED |
|
|
|
|
Registered Office
: |
Sapthagiri Bhavan New No. 4, (Old No. 10), Karpagambal
Nagar, |
|
Tel. No.: |
91-44-24991518, 24991289 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
08.06.1971 |
|
|
|
|
Com. Reg. No.: |
18-005999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 50.319 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24200TN1971PLC005999 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0488033306 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT3615K |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AAACT3615K1ZI |
|
|
|
|
TIN No.: |
33790700288 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacture and sale of Sodium Hydrosulphite, Liquid Sulphur Dioxide and generation and sale of power. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 11600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1971 having a good track record and it is engaged as manufacturer of sodium hydrosulphite (SHS). For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operation backed by considerable experience of its promoters in chemicals segment. However, these strengths are partially offset by TCP's working capital intensive nature of operations, its exposure to risks related to raw material prices and funding support to associate companies. 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 |
CRISIL |
|
Rating |
Long term Ratings = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
14.07.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Ratings = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
14.07.2018 |
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 DECLINED
Management non-cooperative (Tel No.:91-44-24991518)
(Tel No.:91-44-24991289 – Continuously Ringing)
LOCATIONS
|
Registered Office : |
Sapthagiri Bhavan New No. 4, (Old No. 10), Karpagambal Nagar, |
|
Tel. No.: |
91-44-24991518/ 24991289 |
|
Fax No.: |
91-44-24992435 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factories : |
Chemical, Windmills
and Biomass Divisions Koviloor, Sivaganga District - 630307, Tamilnadu, India Power Division Thandalacherry Road, New Gummidipoondi, Thiruvallore District – 601201, Tamilnadu, India Food Division Tondiarpet, Chennai – 600081, Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Venkatachalapathy Ramasamyudayar
Venkatachalam |
|
Designation : |
Managing Director |
|
Address : |
No.24, Old No.25, Sir C.V. Raman Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Birth/Age : |
09.04.1960 |
|
Experience : |
35 years’ experience in business of various industries such as Textiles, Chemicals, Granites, Vanaspati and Medical. |
|
Date of Appointment : |
07.11.1986 |
|
DIN No.: |
00037524 |
|
|
|
|
Name : |
Mr. Rajasekaran Vaithinathan |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No.499, 18th Street, 4th Sector, K.K. Nagar, Chennai - 600078, Tamilnadu, India |
|
Date of Birth/Age : |
06.11.1952 |
|
Date of Appointment : |
01.03.1992 |
|
PAN No.: |
AERPR0716F |
|
DIN No.: |
00037006 |
|
|
|
|
Name : |
Mr. Arunachalam Sellamuthu Thillainayagam |
|
Designation : |
Director |
|
Address : |
3, 7th Street, Gopalapuram, Chennai - 600086, Tamilnadu, India |
|
Date of Birth/Age : |
17.02.1952 |
|
Date of Appointment : |
30.12.1987 |
|
DIN No.: |
00951729 |
|
|
|
|
Name : |
Mr. Sengutuvan Venkataachalam |
|
Designation : |
Director |
|
Address : |
Old No.25, New No.24, Sir C.V. Raman Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Birth/Age : |
07.12.1986 |
|
Date of Appointment : |
26.08.2009 |
|
PAN No.: |
BBWPS3097M |
|
DIN No.: |
00053629 |
|
|
|
|
Name : |
Mr. Sivaraman Varatharajan |
|
Designation : |
Independent Director |
|
Address : |
34, 3rd Main Road, Kotturpuram, Chennai - 600085, Tamilnadu, India |
|
Date of Birth/Age : |
05.02.1963 |
|
Date of Appointment : |
05.12.2013 |
|
DIN No.: |
01819133 |
|
|
|
|
Name : |
Mr. Madabushi Parthasarathi |
|
Designation : |
Director |
|
Address : |
C-35 Industrial Estate, Guindy, Chennai - 600032, Tamilnadu, India |
|
Date of Birth/Age : |
04.05.1954 |
|
Date of Appointment : |
05.12.2013 |
|
DIN No.: |
03209175 |
|
|
|
|
Name : |
Mr. Ram Ravi Krishnan |
|
Designation : |
Director |
|
Address : |
No.23/11, Kasturi Ranga Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Birth/Age : |
01.04.1955 |
|
Date of Appointment : |
05.12.2013 |
|
DIN No.: |
01722565 |
|
|
|
|
Name : |
Mr. Natarajan Jai Ganesh |
|
Designation : |
Independent Director |
|
Address : |
20, Kumara Koil Street, Thiruvarur - 610001, Tamilnadu, India |
|
Date of Birth/Age : |
22.03.1978 |
|
Date of Appointment : |
05.12.2013 |
|
DIN No.: |
06969618 |
|
|
|
|
Name : |
Samyuktha Venkatachalam |
|
Designation : |
Director |
|
Address : |
25, Sir C V Raman Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Appointment : |
25.05.2017 |
|
DIN No.: |
02691981 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Selvarajan |
|
Designation : |
Secretary |
|
Address : |
Old No. 8, New No: 19, Venkata Krishna Road, R.A. Puram, Chennai - 600028, Tamilnadu, India |
|
Date of Birth/Age : |
27.06.1961 |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
AAFPR4745Q |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
The Thiruvalluvaar Textiles Private Limited |
|
1308300 |
|
V.R. Venkataachalam |
|
1230359 |
|
Sengutuvan V |
|
361764 |
|
Radha Venkataachalam |
|
175350 |
|
V Samyuktha Venkataachalam |
|
120000 |
|
Thillainayagam A S |
|
135000 |
|
Kamalam R |
|
97550 |
|
Andal R |
|
78782 |
|
Radha R |
|
69950 |
|
Ramasamy Udayar N P V |
|
54602 |
|
Padma Udayar R |
|
51300 |
|
Arundathi S |
|
50150 |
|
TVRRS Enterprises |
|
10000 |
|
Amudha T |
|
6400 |
|
Andal R (jointly) Arundathi R |
|
3300 |
|
Poovai Ammal |
|
400 |
|
Arundathi S |
|
300 |
|
ICL Financial Services Limited |
|
459480 |
|
ICL Securities Limited |
|
270272 |
|
K2 V2 Engineering Private Limited |
|
231158 |
|
ESS PT Real Estate Private Limited |
|
220000 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
48.62 |
|
Promoters (Body corporate) |
26.00 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
1.77 |
|
Public/Other than promoters (Body corporate) |
23.60 |
|
Public/Other than promoters (Others - HUF) |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacture and sale of Sodium Hydrosulphite, Liquid Sulphur Dioxide and generation and sale of power. (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 : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
T. Selvaraj and Company Chartered Accountants |
|
Address : |
32, Dewan Rama Road, Purasawakkam Chennai- 600084 Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFT0425E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their Relatives: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11750000 |
Equity Shares |
INR 10/- each |
INR 117.500 Million |
|
25000 |
Preference Shares |
INR 100/- each |
INR 2.500 Million |
|
|
Total
|
|
INR 120.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5031909 |
Equity Shares |
INR 10/- each |
INR 50.319 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 |
50.319 |
50.319 |
50.319 |
|
(b) Reserves and Surplus |
4013.550 |
3814.212 |
3647.455 |
|
(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) |
4063.869 |
3864.531 |
3697.774 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
249.764 |
214.955 |
209.690 |
|
(b) Deferred tax liabilities (Net) |
31.985 |
26.313 |
16.188 |
|
(c) Other long-term
liabilities |
33.550 |
653.450 |
807.209 |
|
(d) long-term
provisions |
8.521 |
7.619 |
5.295 |
|
Total Non-current
Liabilities (3) |
323.820 |
902.337 |
1038.382 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
478.082 |
502.722 |
445.265 |
|
(b) Trade
payables |
297.063 |
377.443 |
320.398 |
|
(c) Other
current liabilities |
307.393 |
468.557 |
475.267 |
|
(d) Short-term
provisions |
21.879 |
22.507 |
14.649 |
|
Total Current
Liabilities (4) |
1104.417 |
1371.229 |
1255.579 |
|
|
|
|
|
|
TOTAL |
5492.106 |
6138.097 |
5991.735 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1043.850 |
1084.233 |
1088.464 |
|
(ii)
Intangible Assets |
4.602 |
6.093 |
6.158 |
|
(iii) Tangible assets
capital work-in-progress |
113.296 |
113.295 |
105.005 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2298.180 |
2396.120 |
2396.120 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
52.337 |
42.557 |
50.787 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3512.265 |
3642.298 |
3646.534 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
664.648 |
1031.171 |
955.906 |
|
(c) Trade
receivables |
775.601 |
940.929 |
966.333 |
|
(d) Cash and
bank balances |
52.751 |
52.306 |
46.764 |
|
(e)
Short-term loans and advances |
486.841 |
471.393 |
376.198 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1979.841 |
2495.799 |
2345.201 |
|
|
|
|
|
|
TOTAL |
5492.106 |
6138.097 |
5991.735 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
3115.816 |
2809.690 |
3719.695 |
|
|
Other Income |
12.559 |
5.863 |
13.423 |
|
|
TOTAL |
3128.375 |
2815.553 |
3733.118 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1644.943 |
1601.056 |
2201.364 |
|
|
Purchases of Stock-in-Trade |
141.704 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
65.581 |
(15.357) |
22.233 |
|
|
Employee benefit expense |
228.288 |
235.835 |
217.421 |
|
|
CSR expenditure |
0.000 |
0.095 |
1.055 |
|
|
Other expenses |
642.209 |
606.084 |
578.152 |
|
|
TOTAL |
2722.725 |
2427.713 |
3020.225 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
405.650 |
387.840 |
712.893 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
55.634 |
77.190 |
56.545 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
350.016 |
310.650 |
656.348 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
60.049 |
59.584 |
53.671 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
289.967 |
251.066 |
602.677 |
|
|
|
|
|
|
|
Less |
TAX |
84.573 |
78.253 |
194.786 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
205.394 |
172.813 |
407.891 |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
0.000 |
0.000 |
0.000 |
|
|
Share of profit (loss) of
associates |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
205.394 |
172.813 |
407.891 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
1855.350 |
1738.593 |
1380.916 |
|
|
|
|
|
|
|
Add |
Carrying amount of assets not having any |
0.000 |
0.000 |
5.841 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
50.000 |
|
|
Dividend |
5.032 |
5.032 |
5.032 |
|
|
Corporate Dividend |
1.024 |
1.024 |
1.023 |
|
|
Total |
56.056 |
56.056 |
56.055 |
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
2004.688 |
1855.350 |
1738.593 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
111.172 |
71.288 |
266.230 |
|
|
TOTAL EARNINGS |
111.172 |
71.288 |
266.230 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
307.842 |
546.902 |
500.880 |
|
|
Components and spare
parts |
0.196 |
0.285 |
1.602 |
|
|
TOTAL IMPORTS |
308.037 |
547.186 |
502.482 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
41.00 |
34.34 |
81.06 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
5.200 |
0.210 |
0.048 |
|
Net cash flows from (used in) operations |
22.854 |
277.939 |
1231.230 |
|
Net cash flows from (used in) operating activities |
(65.369) |
140.992 |
1004.363 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
90.86 |
122.23 |
94.82 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.02 |
2.99 |
3.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
60.69 |
86.05 |
53.12 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.61 |
0.38 |
0.75 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.35 |
0.32 |
0.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.25 |
0.26 |
0.24 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.18 |
0.19 |
0.18 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.27 |
0.35 |
0.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.29 |
0.31 |
0.32 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
7.29 |
5.02 |
12.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.59 |
6.15 |
10.97 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.74 |
2.82 |
6.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
5.05 |
4.47 |
11.03 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.79 |
1.82 |
1.87 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.19 |
1.07 |
1.11 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.74 |
0.63 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
14.57 |
14.27 |
13.02 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.79 |
1.82 |
1.87 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
50.319 |
50.319 |
50.319 |
|
Reserves & Surplus |
3647.455 |
3814.212 |
4013.550 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3697.774 |
3864.531 |
4063.869 |
|
|
|
|
|
|
Long-term borrowings |
209.690 |
214.955 |
249.764 |
|
Short term borrowings |
445.265 |
502.722 |
478.082 |
|
Current maturities of
long-term debts |
0.048 |
0.210 |
5.200 |
|
Total
borrowings |
655.003 |
717.887 |
733.046 |
|
Debt/Equity
ratio |
0.177 |
0.186 |
0.180 |
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 |
3719.695 |
2809.690 |
3115.816 |
|
|
|
(24.465) |
10.895 |
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 |
3719.695 |
2809.690 |
3115.816 |
|
Profit/ (Loss) |
407.891 |
172.813 |
205.394 |
|
|
10.97
% |
6.15
% |
6.59
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
50.319 |
50.319 |
|
(b) Reserves and Surplus |
|
4013.321 |
3811.084 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
(0.035) |
(0.156) |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4063.640 |
3861.403 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
249.764 |
214.955 |
|
(b) Deferred tax liabilities (Net) |
|
31.985 |
26.312 |
|
(c) Other long-term
liabilities |
|
33.550 |
653.450 |
|
(d) long-term
provisions |
|
8.521 |
7.620 |
|
Total Non-current
Liabilities (3) |
|
323.820 |
902.337 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
478.082 |
502.722 |
|
(b) Trade
payables |
|
297.063 |
377.443 |
|
(c) Other
current liabilities |
|
307.402 |
468.567 |
|
(d) Short-term
provisions |
|
21.879 |
22.508 |
|
Total Current
Liabilities (4) |
|
1104.426 |
1371.240 |
|
|
|
|
|
|
TOTAL |
|
5491.851 |
6134.824 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1133.745 |
1174.292 |
|
(ii)
Intangible Assets |
|
5.710 |
7.201 |
|
(iii) Tangible assets
capital work-in-progress |
|
113.296 |
113.295 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2208.855 |
2306.795 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
52.363 |
42.595 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
3513.969 |
3644.178 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
664.648 |
1031.171 |
|
(c) Trade receivables |
|
775.601 |
940.929 |
|
(d) Cash and
bank balances |
|
53.387 |
52.546 |
|
(e)
Short-term loans and advances |
|
484.246 |
466.000 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1977.882 |
2490.646 |
|
|
|
|
|
|
TOTAL |
|
5491.851 |
6134.824 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
3115.816 |
2809.690 |
|
|
Other Income |
|
16.759 |
10.063 |
|
|
TOTAL |
|
3132.575 |
2819.753 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1644.943 |
1601.056 |
|
|
Purchases of
Stock-in-Trade |
|
141.704 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
65.581 |
(15.357) |
|
|
Employee benefit expense |
|
228.288 |
235.845 |
|
|
CSR expenditure |
|
0.000 |
0.095 |
|
|
Other expenses |
|
642.334 |
606.203 |
|
|
TOTAL |
|
2722.850 |
2427.842 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
409.725 |
391.911 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
55.634 |
77.190 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
354.091 |
314.721 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
60.213 |
59.819 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
293.878 |
254.902 |
|
|
|
|
|
|
|
Less |
TAX |
|
85.464 |
79.144 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
208.414 |
175.758 |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
|
0.000 |
0.000 |
|
|
Share of profit (loss) of
associates |
|
0.000 |
0.000 |
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
208.414 |
175.758 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
41.00 |
34.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
12] |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
The Company is a Public Limited Company incorporated under the Companies Act, 1956. The Company is engaged in the business of manufacture and sale of Sodium Hydrosulphite, Liquid Sulphur Dioxide and generation and sale of power.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits |
140.254 |
122.617 |
|
Loans and advances from related parties |
99.810 |
82.638 |
|
Other loans and advances |
9.700 |
9.700 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
29.500 |
29.500 |
|
|
|
|
|
Total |
279.264 |
244.455 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B69772127 |
10339720 |
IDBI BANK LIMITED |
16/02/2012 |
04/03/2013 |
- |
500000000.0 |
115, ANNA SALAI, SAIDAPET,CHENNAI-600015 TAMILNADU INDIA |
|
2 |
B29427549 |
10327959 |
IDBI BANK LIMITED |
04/01/2012 |
- |
- |
100000000.0 |
115, ANNA SALAI, SAIDAPET,CHENNAI-600015 TAMILNADU INDIA |
|
3 |
B40163602 |
10298396 |
HDFC BANK LIMITED |
24/06/2011 |
28/05/2012 |
- |
100000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST MUMBAI-400013 TAMILNADU INDIA |
|
4 |
Y10409900 |
90286973 |
HDFC BANK LTD. |
31/03/2005 |
- |
- |
200000000.0 |
MARIAM CENTRE; FIRST FLOOR751 - B; ANNA SALAI CHENNAI-600002 TAMILNADU INDIA |
|
5 |
Y10410798 |
90287871 |
HDFC BANK |
05/02/2004 |
- |
- |
111168000.0 |
SENAPATI BUPAT MARGLOWER PAREL WEST MUMBAI-600002 MAHARASTRA INDIA |
|
6 |
B55993455 |
90287703 |
STATE BANK OF INDIA |
05/12/2001 |
25/07/2012 |
- |
502600000.0 |
COMMERCIAL BRANCH,232, N.S.C.BOSE ROAD CHENNAI-600001 TAMILNADU INDIA |
|
7 |
Y10410448 |
90287521 |
INDIAN OVERSEAS BANK |
04/09/1998 |
30/05/2000 |
- |
50000000.0 |
C & IC; DR. RADHAKRISHNAN SALAI MYLAPOPORE CHENNAI-600004 TAMILNADU INDIA |
|
8 |
G74048281 |
90287492 |
Indian Overseas Bank |
29/11/1997 |
30/11/2017 |
- |
1174200000.0 |
98-A, DR DR. RADHAKRISHNAN SALAI, MYLAPORE CHENNAI-600004 TAMILNADU INDIA |
|
9 |
Y10410342 |
90287415 |
INDIAN OVERSEAS BANK |
28/03/1996 |
13/07/2005 |
- |
49200000.0 |
COKMMERCIAL AND INSTITUTIONAL BRANCHRADHKRISHNA SALAI CHENNAI-600004 TAMILNADU INDIA |
|
10 |
Y10411808 |
90288881 |
ALLAHABAD BANK |
28/03/1996 |
- |
- |
82000000.0 |
41; ANNA SALAI CHENNAI -600002 TAMILNADU INDIA |
FIXED ASSETS
·
Land
·
Buildings
·
Leasehold
Land
·
Leasehold
Buildings
·
Plant
and Machinery
·
Furniture and Fittings
·
Vehicles
·
Office Equipment
· Computer
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 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RKI |
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.