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MIRA INFORM REPORT
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Report No. : |
506209 |
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Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
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Name : |
GENUS POWER INFRASTRUCTURES LIMITED (w.e.f. 2007) |
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Formerly Known
As : |
GENUS OVERSEAS ELECTRONICS LIMITED |
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Registered
Office : |
G-14, Sector-63, Gautam Budda Nagar, Noida-201307, Uttar Pradesh |
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Tel. No.: |
91-120-4227116 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
06.08.1992 |
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Com. Reg. No.: |
20-051997 |
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Capital
Investment / Paid-up Capital : |
INR 256.808 Million |
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CIN No.: [Company Identification
No.] |
L51909UP1992PLC051997 |
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IEC No.: [Import-Export Code No.] |
1394000324 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business of manufacturing / providing 'Metering and Metering Solutions and undertaking 'Engineering, Construction and Contracts' on turnkey basis. (Registered Activity and also Confirmed by management) |
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No. of Employees
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1012 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1992 and it is a manufacturer of metering solutions and undertaking ‘Engineering, Construction and Contractors’ on turnkey basis. As per the financials of March 2017, the company has registered decline in its revenue as compared to its previous year’s revenue and has reported good profit margin of 8.87% under review. Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with strong debt coverage indicators and good liquidity position. Share are quoted high Stock Exchanges. (Share are traded at a price of INR 53.45 against its face value of INR 10.) However, rating strength is partially offset by the customer concentration risk, vulnerability of its profitability to the fluctuations in raw material prices as well as foreign exchange rates. As per unaudited quarterly financials of December 2017, the company has achieved a revenue of INR 2,001.89 million and has reported a good profit margin of 6.60%. Payments are seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (31.03.2017) |
Current Rating (30.06.2017) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
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Rating |
Long Term Rating = A+ |
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Rating Explanation |
Adequate degree of safety and low credit
risk |
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Date |
19.01.2018 |
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Rating Agency Name |
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Rating |
Short Term Rating = A1 |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
19.01.2018 |
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 27.04.2018
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-141-7102400)
LOCATIONS
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Registered Office : |
G-14, Sector-63, Gautam Budda Nagar, Noida-201307, |
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Tel. No.: |
91-120-4227116 |
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Mobile No.: |
91-9339531310 (Mr. Indrajit) |
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Fax No.: |
91-120-4227116 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Corporate Office / Plant 1 : |
SPL-3, RllCO Industrial Area, Sitapura, |
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Tel. No.: |
91-141-7102400/ 500 |
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Fax No.: |
91-141-2770319/ 7102503 |
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Plant and Research and Development Centre : |
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Marketing Office : |
CJ – 114, |
DIRECTORS
As on 31.03.2017
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Name : |
Mr. Rajendra Kumar Agarwal |
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Designation : |
Managing Director |
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Address : |
12, Dwarkapuri, Jamnalal Bajaj Marg, C-Scheme,
Jaipur-302001, |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Electronics Engineer by profession |
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Date of Appointment : |
01.01.2001 |
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DIN No.: |
00011127 |
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Name : |
Mr. Jitendra Kumar Agarwal |
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Designation : |
Managing Director |
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Address : |
A-12, Dwarkapuri, Jamnalal Bajaj Marg, C-Scheme,
Jaipur-302001, |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Master's degree in Business Administration
(MBA) (Marketing) |
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Date of Appointment : |
06.05.2004 |
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DIN No.: |
00011189 |
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Name : |
Mr. Ishwar Chand Agarwal |
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Designation : |
Wholetime Director |
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Address : |
12, Dwarkapuri, Jamnalal Bajaj Marg, C-Scheme,
Jaipur-302001, |
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Date of Birth/Age : |
67 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2014 |
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DIN No.: |
00011152 |
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Name : |
Mr. Bhairon Singh Solanki |
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Designation : |
Director |
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Address : |
64, Taru Chhaya Nagar, |
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Date of Birth/Age : |
90 Years |
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Qualification : |
M.Sc. (Engg.) |
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Date of Appointment : |
04.03.2002 |
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DIN No.: |
00012141 |
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Name : |
Mr. Dharam Chand Agarwal |
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Designation : |
Director |
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Address : |
C-36, Vaishali Nagar, Jaipur-302021, |
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Date of Birth/Age : |
65 Years |
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Date of Appointment : |
14.12.2005 |
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DIN No.: |
00014211 |
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Name : |
Mr. Rameshwar Pareek |
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Designation : |
Director |
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Address : |
C-222, Vaishali Nagar, Jaipur-302021, |
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Date of Birth/Age : |
73 Years |
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Qualification : |
Master's degree in Economics |
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Date of Appointment : |
29.01.2003 |
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DIN No.: |
00014224 |
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Name : |
Mr. Indraj Mal Bhutoria |
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Designation : |
Director |
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Address : |
10, |
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Date of Birth/Age : |
49 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
12.12.2002 |
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DIN No.: |
00762361 |
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Name : |
Mr. Kailash Chandra Agarwal |
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Designation : |
Director |
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Address : |
25, Jawahar Nagar, Moradabad-244001, |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Graduate in Bachelor of Science |
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Date of Appointment : |
29.05.2013 |
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DIN No.: |
00895365 |
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Name : |
Mr. Udit Agarwal |
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Designation : |
Director |
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Address : |
Z-16,17,18 Deen Dayal Nagar, Ph-2, Moradabad-244001, |
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Date of Birth/Age : |
43 Years |
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Date of Appointment : |
24.10.2009 |
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DIN No.: |
02820615 |
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Name : |
Mrs. Sharmila Agarwal |
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Designation : |
Director |
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Address : |
B-8, Govind Marg, |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Master’s degree in Business Management |
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Date of Appointment : |
30.03.2015 |
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DIN No.: |
07137624 |
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Name : |
Mr. Naveen Gupta |
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Designation : |
Director (Upto 02.02.2016) |
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Name : |
Mr. Satya Narayan Vijayvergiya |
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Designation : |
Director (Upto 02.12.2015) |
KEY EXECUTIVES
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Name : |
Mr. Rakesh Kumar Agarwal |
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Designation : |
Chief Financial Officer(Kmp) |
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Address : |
C-1101, Supertech Rameshwar, Orchids, Kaushambi, Ghaziabad-201012, |
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Date of Appointment : |
14.11.2014 |
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PAN No.: |
AABPA6427E |
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Name : |
Mr. Ankit Jhanjhari |
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Designation : |
Company Secretary |
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Address : |
106/5, Chattrapati Marg, Vijay Path, Mansarovar, Jaipur - 302020, |
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Date of Appointment : |
12.10.2010 |
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PAN No.: |
ADOPJ3028Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on March, 2018
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Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
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Promoter and Promoter Group |
129886109 |
50.49 |
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Public |
127343222 |
49.51 |
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Grand Total |
257229331 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER
GROUP
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Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
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A1) Indian |
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0.00 |
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Individuals/Hindu undivided Family |
69774882 |
27.13 |
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AMIT AGARWAL (HUF) |
146150 |
0.06 |
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AMIT KUMAR AGARWAL |
3416076 |
1.33 |
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AMRIT LAL TODI |
3206000 |
1.25 |
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AMRIT LAL TODI (HUF) |
1704500 |
0.66 |
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ANAND TODI |
2991870 |
1.16 |
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ANAND TODI (HUF) |
398000 |
0.15 |
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ANJU AGARWAL |
152841 |
0.06 |
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ASHUTOSH TODI |
114000 |
0.04 |
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BALDEV KUMAR AGARWAL |
508000 |
0.20 |
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BALDEV KUMAR AGARWAL (HUF) |
1520000 |
0.59 |
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BANWARI LAL TODI |
3660160 |
1.42 |
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BANWARI LAL TODI (HUF) |
309280 |
0.12 |
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HIMANSHU AGRAWAL |
6508136 |
2.53 |
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ISHWAR CHAND AGARWAL |
10425801 |
4.05 |
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ISHWAR CHAND AGARWAL (HUF) |
402920 |
0.16 |
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JITENDRA AGARWAL |
3634256 |
1.41 |
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KAILASH CHANDRA AGARWAL |
13298356 |
5.17 |
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KAILASH CHANDRA AGARWAL (HUF) |
1245600 |
0.48 |
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MANJU DEVI TODI |
374040 |
0.15 |
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MONISHA AGARWAL |
1590391 |
0.62 |
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NARAYAN PRASAD TODI (HUF) |
1279000 |
0.50 |
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NARAYAN PRASAD TODI |
1203600 |
0.47 |
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PARUL AGARWAL |
807000 |
0.31 |
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PHOOS RAJ TODI |
668000 |
0.26 |
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PHOOS RAJ TODI (HUF) |
759400 |
0.30 |
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RAJENDRA AGARWAL |
3550485 |
1.38 |
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RAJENDRA KUMAR AGARWAL (HUF) |
432000 |
0.17 |
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RUBAL TODI |
904400 |
0.35 |
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SEEMA TODI |
820600 |
0.32 |
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SHANTI DEVI AGARWAL |
1610000 |
0.63 |
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SHARDA TODI |
1383000 |
0.54 |
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SIMPLE AGARWAL |
751020 |
0.29 |
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Any Other (specify) |
60111227 |
23.37 |
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CRG TRADING AND FINVEST (P) LTD. |
3750210 |
1.46 |
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GENUS INNOVATION LIMITED |
4769600 |
1.85 |
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GENUS INTERNATIONAL COMMODITIES LIMITED |
4205000 |
1.63 |
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HI - PRINT ELECTROMACK PRIVATE LIMITED |
5574300 |
2.17 |
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IC FINANCE PRIVATE LTD |
112800 |
0.04 |
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KAILASH COAL AND COKE COMPANY LIMITED |
7926000 |
3.08 |
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KAILASH INDUSTRIES LIMITED |
9961560 |
3.87 |
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KAILASH VIDYUT AND ISPAT LIMITED |
75000 |
0.03 |
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VIVEKSHIL DEALERS PVT. LTD. |
23736757 |
9.23 |
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Sub Total A1 |
129886109 |
50.49 |
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A2) Foreign |
|
0.00 |
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A=A1+A2 |
129886109 |
50.49 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
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B1) Institutions |
0 |
0.00 |
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Mutual Funds/ |
21015666 |
8.17 |
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RELIANCE CAPITAL TRUSTEE CO. LTD-A/C REL |
13046078 |
5.07 |
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UTI - DUAL ADVANTAGE FIXED TERM FUND SER |
7266033 |
2.82 |
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Foreign Portfolio Investors |
4264019 |
1.66 |
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COHESION |
2710499 |
1.05 |
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Financial Institutions/ Banks |
231038 |
0.09 |
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Any Other (specify) |
880277 |
0.34 |
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Sub Total B1 |
26391000 |
10.26 |
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B2) Central Government/ State Government(s)/ President of |
0 |
0.00 |
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B3) Non-Institutions |
0 |
0.00 |
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Individual share capital upto INR 0.200 Million |
28866837 |
11.22 |
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Individual share capital in excess of INR 0.200 Million |
54617367 |
21.23 |
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AJAY UPADHYAYA |
3873000 |
1.51 |
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MADHULIKA AGARWAL |
2734878 |
1.06 |
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VALLABH ROOPCHAND BHANSHALI |
2985700 |
1.16 |
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VIKAS KOTHARI |
27543850 |
10.71 |
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Any Other (specify) |
17468018 |
6.79 |
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Bodies Corporate |
12379779 |
4.81 |
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Non-Resident Indian (NRI) |
2822943 |
1.10 |
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Clearing Members |
2265296 |
0.88 |
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Sub Total B3 |
100952222 |
39.25 |
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B=B1+B2+B3 |
127343222 |
49.51 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of manufacturing / providing 'Metering and Metering Solutions and undertaking 'Engineering, Construction and Contracts' on turnkey basis. (Registered Activity and also Confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1012 (Approximately) |
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Bankers : |
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Facilities : |
NOTE : LONG-TERM
BORROWINGS : The foreign currency term loan from a bank of Rs. NIL (March 31, 2016: INR 170.600 Lacs, April 01,2015: INR 258.900 million) is secured by first exclusive charge on the entire fixed Assets of the company's Jalpur unit-II situated at plot No. SP-1-2317, Ramchandpura, Sitapura extensions, Jaipur (Rajasthan) and Haridwar Unit-II situated at Plot No:9, Sector-2, SIOCUL, Haridwar (Uttarakhand) including immovable properties, present and future acquired out of the said loan and unconditional irrevocable personal guarantees of promoters directors Mr. lshwar Chand Agarwal Mr. Rajendra KumarAgarwal and Mr. Jitender Kumar Agarwa~Interest will be paid at 6 month USO Libor+280 BPS p.a payable quarterly (Libor to reset Quarterly). The effective weighted average interest rate is 3.98% p.a. (March 31, 2016: 3.62% p.a, April 01, 2015: 3.30%>. These loans are repayable in unequal quarterly instalments starting from June 2012 to May 2017. The Foreign Currency Term Loan due to be paid by May 2017 was repaid fully by March 2017 and therefore no amount is outstanding as on March 31, 2017. Vehicle loans from banks and non-banking financial companies is secured byway of hypothecation of the vehicles financed by them under the finance scheme. The effective weighted average interest rate is 10.88% (March 31, 2016: 10. Q1%,April 01, 2015: 10.75%) p.a. SHORT-TERM
BORROWINGS : Cash credit from banks and Buyer's Credit of INR 1783.200 Million (March 31, 2016: INR 1768.600 Million, April 01 ,2015: INR 29,60.000 Million) of the Company under consortium arrangement from Bank of Baroda, State Bank of India, Punjab National Bank, lOBI Bank Limited, State Bank of Bikaner and Jaipur, Axis Bank and Export Import Bank of lndia, is secured byway of first paripassu charge on entire current assets of the Company both present and future and collateral security byway of 1st Pari-passu charges on the entire unencumbered fixed assets of the Company and equitable mortgage of properties on pari-passu basis situated at SPL-3A and SPL-2A, Sitapura, Jaipur (Rajasthan) and Plot No. 12, Sector-4 ,LIE Haridwar (Uttarakhand) and further secured by personal guarantees of Mr. lshwar Chand Agarwal Mr. Rajendra Kumar Agarwal Mr. Jitendra Kumar Agarwal and Mr. Vishnu Todi. Bills discounting of INR 364.62 Million (March 31, 2016: INR 163.800 Million; April 01, 2015: INR 13.750 Million of the Company are secured by inland documentary bills covering dispatches of goods under prime Bank's Letter of credit supported by related documents. The rate of interest is 7.90% (March 31, 2016: 9.60%; April 01, 2015: 10%)p.a. Bills discounting of INR 368.898 Million (March 31, 2016: INR 217.165 Million; April 01,2015: INR 238.295 Million) are discounted on vendors invoices and carried an interest rate calculated at Base Rate of SBI with credit period of upto 90 days. This facility is secured by personal guarantees of Mr. lshwar Chand Agarwal Mr. Rajendra Agarwal Mr. Jitendra Kumar Agarwaland Mr. Vishnu Todi. |
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Auditors 1 : |
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Name : |
S. R. Batliboi and Associates LLP Chartered Accountants |
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Address : |
Oval Office, 18, I Labs Centre, |
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Auditors 2 : |
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Name : |
D. Khanna and Associates Chartered Accountants |
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Address : |
G-6, Royal Sundram, Vivekanand Marg, C-Scheme, Jaipur – 302001, |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
U74899DL1994PTC061902
(ceases to be an associate w. e. f 19.09.2016) U45201RJ2012PTC039560 |
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Joint ventures : |
Genus SA, |
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Enterprises in the
control of the Management : |
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Other Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
631600000 |
Equity Shares |
INR 1/- each |
INR 631.600 Million |
|
504000 |
10% redeemable preference shares |
INR 100/- each |
INR 50.400 Million |
|
1500000 |
Preference shares |
INR 100/- each |
INR 150.000 Million |
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Total |
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INR 832.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
257183714 |
Equity Shares |
INR 1/- each |
INR 257.183 Million |
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Reconciliation of the
equity shares outstanding at the beginning and at the end of the year.
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Particulars |
31.03.2017 |
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No of Shares |
(INR In Million) |
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At the beginning of the period |
229264000 |
229.264 |
|
Issued during the year under employee stock option plan |
375864 |
0.375 |
|
Outstanding at
the end of the period |
229639864 |
229.639 |
Terms/ rights attached
to equity shares
The Group has only one class of equity shares having a par value of INR 1 per share. Each holder of equity shares is entitled to one vote per share. The Group declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Group, the holders of equity shares will be entitled to receive remaining assets of the Group, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.
Aggregate number of
shares issued for consideration other than cash during the period of five years
immediately preceding the reporting date
97719120 Equity shares allotted as fully paid up pursuant to scheme of amalgamation for consideration other than cash during the year ended March 31,2014.
Details of
shareholders holding more than 5% equity shares in the group
|
Particulars |
31.03.2017 |
|
|
Number of Shares Held |
% holding in that class of shares |
|
|
Vivekshil Dealers Private Limited |
23736757 |
9.23% |
|
Kailash Chandra Agarwal |
13298356 |
5.17% |
FINANCIAL DATA
[all figures are
in 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 |
257.183 |
256.808 |
256.661 |
|
(b) Reserves &
Surplus |
6787.693 |
6297.747 |
4615.926 |
|
(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) |
7044.876 |
6554.555 |
4872.587 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
10.503 |
12.586 |
168.530 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
70.525 |
|
(c) Other long term
liabilities |
68.296 |
37.042 |
52.458 |
|
(d) long-term provisions |
124.986 |
147.949 |
108.256 |
|
Total Non-current
Liabilities (3) |
203.785 |
197.577 |
399.769 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2188.612 |
2149.730 |
3333.974 |
|
(b) Trade payables |
942.112 |
1104.586 |
1253.560 |
|
(c) Other current
liabilities |
404.754 |
547.167 |
426.319 |
|
(d) Short-term provisions |
31.247 |
36.987 |
204.267 |
|
Total Current Liabilities
(4) |
3566.725 |
3838.470 |
5218.120 |
|
|
|
|
|
|
TOTAL |
10815.386 |
10590.602 |
10490.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1619.636 |
1374.454 |
1294.882 |
|
(ii) Intangible Assets |
15.691 |
8.770 |
8.862 |
|
(iii) Capital
work-in-progress |
0.014 |
21.025 |
5.879 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
447.318 |
411.400 |
556.724 |
|
(c) Deferred tax assets
(net) |
459.256 |
484.195 |
0.000 |
|
(d) Long-term Loan and Advances |
534.234 |
536.055 |
1191.020 |
|
(e) Other Non-current
assets |
402.445 |
547.618 |
476.208 |
|
Total Non-Current Assets |
3478.594 |
3383.517 |
3533.575 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1944.981 |
1017.137 |
665.103 |
|
(b) Inventories |
1160.439 |
1175.721 |
1559.829 |
|
(c) Trade receivables |
3304.572 |
4146.303 |
3995.816 |
|
(d) Cash and cash
equivalents |
567.870 |
619.171 |
489.504 |
|
(e) Short-term loans and
advances |
56.965 |
59.563 |
227.400 |
|
(f) Other current assets |
301.965 |
189.190 |
19.249 |
|
Total Current Assets |
7336.792 |
7207.085 |
6956.901 |
|
|
|
|
|
|
TOTAL |
10815.386 |
10590.602 |
10490.476 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
6527.470 |
8692.396 |
9149.996 |
|
|
Other Income |
240.041 |
174.945 |
123.651 |
|
|
TOTAL |
6767.511 |
8867.341 |
9273.647 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3975.174 |
5483.050 |
6635.317 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
113.043 |
157.204 |
(468.344) |
|
|
Employees benefits
expense |
657.039 |
659.586 |
652.395 |
|
|
Excise duty |
103.728 |
115.857 |
(24.086) |
|
|
Exceptional items |
0.000 |
(23.586) |
174.358 |
|
|
Other expenses |
812.617 |
1041.116 |
1102.734 |
|
|
TOTAL |
5661.601 |
7433.227 |
8072.374 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
1105.910 |
1434.114 |
1201.273 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
248.721 |
288.751 |
332.393 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
857.189 |
1145.363 |
868.880 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
153.456 |
139.910 |
160.936 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
703.733 |
1005.453 |
707.944 |
|
|
|
|
|
|
|
Less |
TAX |
124.623 |
204.623 |
176.710 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
579.110 |
800.830 |
531.234 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
102.906 |
68.361 |
531.956 |
|
|
TOTAL EARNINGS |
102.906 |
68.361 |
531.956 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
2857.472 |
2640.990 |
|
|
Components and Stores
parts |
0.000 |
80.334 |
56.900 |
|
|
TOTAL IMPORTS |
0.000 |
2937.806 |
2697.890 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.25 |
3.12 |
2.07 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
6.817 |
165.038 |
103.161 |
|
Cash generated from operations |
1673.072 |
1118.136 |
16.331 |
|
Net cash flow from operating activity |
1501.710 |
883.312 |
(128.486) |
QUARTERLY RESULTS
(INR
in Million)
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
1842.790 |
1662.990 |
2001.890 |
|
Total Expenditure |
1623.740 |
1504.910 |
1800.830 |
|
PBIDT (Excl OI) |
219.050 |
158.080 |
201.060 |
|
Other Income |
62.000 |
53.150 |
75.960 |
|
Operating Profit |
281.050 |
211.230 |
277.020 |
|
Interest |
54.850 |
45.550 |
54.040 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
226.210 |
165.680 |
222.980 |
|
Depreciation |
42.040 |
42.340 |
43.360 |
|
Profit Before Tax |
184.170 |
123.340 |
179.620 |
|
Tax |
41.890 |
34.050 |
47.440 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
142.280 |
89.290 |
132.180 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
142.280 |
89.290 |
132.180 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
184.78 |
174.11 |
159.40 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
1.98 |
2.10 |
2.29 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
86.50 |
73.53 |
68.96 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.95 |
1.22 |
0.77 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.68 |
1.02 |
0.92 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.33 |
0.38 |
0.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.31 |
0.36 |
0.74 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.51 |
0.59 |
1.07 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.23 |
0.21 |
0.27 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.45 |
4.97 |
3.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
8.87 |
9.21 |
5.81 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.35 |
7.56 |
5.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
8.22 |
12.22 |
10.90 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.06 |
1.88 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.73 |
1.57 |
1.03 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.65 |
0.62 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
8.58 |
9.06 |
14.05 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.06 |
1.88 |
1.33 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 1.00/- each |
|
Market Value |
INR 53.45/- each |
FINANCIAL ANALYSIS
[all figures are
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 |
256.661 |
256.808 |
257.183 |
|
Reserves & Surplus |
4615.926 |
6297.747 |
6787.693 |
|
Net
worth |
4872.587 |
6554.555 |
7044.876 |
|
|
|
|
|
|
Long Term borrowings |
168.530 |
12.586 |
10.503 |
|
Short Term borrowings |
3333.974 |
2149.730 |
2188.612 |
|
Current Maturities of Long term debt |
103.161 |
165.038 |
6.817 |
|
Total
borrowings |
3605.665 |
2327.354 |
2205.932 |
|
Debt/Equity
ratio |
0.740 |
0.355 |
0.313 |
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
|
9149.996 |
8692.396 |
6527.470 |
|
|
|
(5.001) |
(24.906) |
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
|
9149.996 |
8692.396 |
6527.470 |
|
Profit/
(Loss) |
531.234 |
800.830 |
579.110 |
|
|
5.81% |
9.21% |
8.87% |
ABRIDGED
BALANCE SHEET (CONSOLIDATE)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
229.639 |
229.264 |
|
(b) Reserves &
Surplus |
|
6465.722 |
5912.205 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
6695.361 |
6141.469 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
10.503 |
12.586 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
68.296 |
37.042 |
|
(d) long-term provisions |
|
124.986 |
147.949 |
|
Total Non-current
Liabilities (3) |
|
203.785 |
197.577 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2188.612 |
2149.730 |
|
(b) Trade payables |
|
942.112 |
1104.586 |
|
(c) Other current
liabilities |
|
404.754 |
547.167 |
|
(d) Short-term provisions |
|
31.247 |
36.987 |
|
Total Current Liabilities
(4) |
|
3566.725 |
3838.470 |
|
|
|
|
|
|
TOTAL |
|
10465.871 |
10177.516 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1619.636 |
1374.454 |
|
(ii) Intangible Assets |
|
15.691 |
8.770 |
|
(iii) Capital
work-in-progress |
|
0.014 |
21.025 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
450.029 |
411.501 |
|
(c) Deferred tax assets
(net) |
|
459.256 |
484.195 |
|
(d) Long-term Loan and Advances |
|
534.234 |
536.055 |
|
(e) Other Non-current
assets |
|
402.445 |
547.618 |
|
Total Non-Current Assets |
|
3481.305 |
3383.618 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
1592.716 |
601.639 |
|
(b) Inventories |
|
1160.439 |
1175.721 |
|
(c) Trade receivables |
|
3304.572 |
4146.303 |
|
(d) Cash and cash
equivalents |
|
567.909 |
621.502 |
|
(e) Short-term loans and
advances |
|
56.965 |
59.563 |
|
(f) Other current assets |
|
301.965 |
189.170 |
|
Total Current Assets |
|
6984.566 |
6793.898 |
|
|
|
|
|
|
TOTAL |
|
10465.871 |
10177.516 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATE)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
6527.470 |
8692.396 |
|
|
Other Income |
|
303.274 |
264.327 |
|
|
TOTAL |
|
6830.744 |
8956.723 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
3975.174 |
5483.050 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
113.043 |
157.204 |
|
|
Excise duty |
|
103.728 |
115.857 |
|
|
Exceptional items |
|
0.000 |
(23.586) |
|
|
Employees benefits
expense |
|
657.039 |
659.586 |
|
|
Other expenses |
|
812.617 |
1041.116 |
|
|
TOTAL |
|
5661.601 |
7433.227 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1169.143 |
1523.496 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
248.721 |
288.751 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
920.422 |
1234.745 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
153.456 |
139.910 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
766.966 |
1094.835 |
|
|
|
|
|
|
|
Less |
TAX |
|
124.623 |
204.623 |
|
Less |
Share of profit from
associates |
|
2.754 |
0.543 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
645.097 |
890.755 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
2.81 |
4.19 |
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 |
Yes |
|
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/ Age of Proprietor /
Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company is a public company domiciled in India. The Company is primarily engaged in the business of manufacturing / providing' Metering and Metering solutions and undertaking 'Engineering, Construction and Contracts' on turnkey basis. The equity shares of the Company are Listed on National Stock Exchange of India Limited and BSE Limited. The registered office of the Company is Located at G-14, Sector-63, Noida, Uttar Pradesh - 201307 and corporate office at SPL-3, RIICD Industrial Area, Sitapura, Tonk Road, Jaipur, Rajasthan -302022.
The Standalone financial statement were authorized for issue in accordance with are solution of the directors on May 23, 2017.
REVIEW OF FINANCIAL
PERFORMANCE (STANDALONE) AND THE STATE OF COMPANY'S AFFAIRS
Revenue from operation (net of excise duty) declined in the FY 2016-17 by 25.10% to INR 6423.742 Million from INR 8576.539 Million reported in the previous year, owing to lower tender offtake from the state power utilities and lower execution of turnkey ECC projects due to delays in processes and approvals at the customers-end. The lower tender offtake was mainly attributed to the disagreement between central and state governments on the procurement of meters at central level and subsequent distribution to state governments.
Earnings before interest, tax, depreciation and amortization (EBITOA) decreased by 29.92% to INR 865.869 Million in the FY 2016-17 from INR 1235.583 Million in previous year on account of lower sales. EBITDA margin also declined to 13.5% in FY 2016-17 from 14.4% reported in the previous year due to execution of the low-margin orders.
Finance cost reduced to INR 248.700 Million in the FY 2016-17 from INR 288.700 Million in the previous year on account of better management of borrowings, and utilization of available funds. The total debts slightly increased to INR 2199.100 Million from INR 2162.300 Million in the previous year on account of new projects and expansions. The company continued to rely on short-term debt to meet its working capital requirements. The Long-term debt was used Largely to support the Capital expenditure incurred towards expansion.
Profit after tax (Pan declined by 27.69% to INR 579.100 Million from INR 8008.30 Million in the previous year mainly due to Lower sales and execution of the Low-margin orders PAT margin remained at 9%.
Earnings per share (basic & diluted) for the year ended March 31, 2017 stood at INR 2.25 per share.
Net worth increased to INR 70121.62 Million in the FY 2016-17 as compared to INR 652.100 Million (adjusted as per Ind AS) in the previous year.
Return on equity(ROE) remained at 8.3% in the FY 2016-17.
Return on capital employed (ROCE) remained at 9.6% in the FY 2016-17.
Net debt-to-equity ratio as at March 31, 2017 was 0.30 as against 0.31 at the previous year.
Cash flow from operations in the FY 2016-17 improved to INR 1501.710 Million from INR 883.300 Million in the previous year, due to improved working capital cycle.
The company has written-off liquidated damages and bad debts of INR 149.088 Million, which mainly represented liquidated damages and deductions by indenting agencies as per the terms of the contract of supplies.
During the FY 2016-17, the Company has passed resolution to write off the investment made in Genus SA, Brazil and the same was reported by the Authorised Dealer to the Reserve Bank of India. The Company has obtained approval from the Authorised Dealer and surrendered the UIN to RBI in the current year and has consequently written off the investment from the books.
The total order book position as at March 31,2017 stood at worth INR 6847.900 Million.
Company's liquidity is supported by the treasury shares arisen as a result of the scheme of arrangement between the company, Genus Paper Products Limited and Genus Paper and Boards Limited as approved by the Hon’ble High Court in FY 2013-14. The treasury shares is comprised of INR 27.544 Million equity shares of the company and 475.44 Lakhs equity shares of Genus Paper and Boards Limited, which together had a market value of INR 1362.753 Million and carried a book value of INR 599.508 Million.
The ministry of corporate affairs (MEA) vide its notification in the official gazette dated February 16, 2015 notified the Indian Accounting Standards (Ind AS), which is applicable to certain class of companies. lnd AS has replaced the existing Indian GAAP prescribed under section 133 of the Companies Act, 2013 read with rule 7 of the Companies (Accounts) Rules, 2014. The company has adopted the Ind AS from April 01, 2016 and the date of transition is April 1, 2015. The impact of adjustments arising on transition has been accounted for in opening reserves, and its comparative period results have been restated accordingly.
OPERATIONS AND
BUSINESS PERFORMANCE
The operational and business performances of the company have been appropriately described in the report on management discussion and analysis, which form part of this report.
MANAGEMENT DISCUSSION
AND ANALYSIS
Economic Overview:
Global economic activity in 2016 picked up with a cyclical recovery in investment, manufacturing, and trade. According to the world economic outlook survey of IMF, world growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.6 percent in 2018. It is expected that the stronger manufacturing activity, more robust
demand, reduced deflationary pressures, and optimistic financial markets, especially in emerging and developing economies would Lead to an uptrend in the global economy. However, persistent structural impediments mainly in advanced economies may hold back a stronger recovery. Against this backdrop, proactive economic policies and mutual efforts are much needed to tackle common obstacles in an integrated world economy.
Amongst others, Indian economy has been one of the best performing economies in the recent past. India's diverse economy is undergoing rapid expansion, both in terms of rapid growth of traditional industries, and a multitude of modern industries and services. The Indian economy advanced 7.1 percent in the FY 2016-17 in Line with the official estimation but Lower than the previous year due to deceleration in consumer spending and Low investment, following the demonetization in November, 2016. FY 2016-17 remained one of the most eventful years in the Indian history. This year was marked by two major structural reforms Le. roadmap to Goods and Services Tax (GSD through Legislative amendments, and the action of demonetization of the two highest denomination notes. Both policy developments have had short-term costs effect but hold potential to bring Long-term benefits to the economy. GST is a significant step in the reform of indirect taxation in India. Merging numerous central and state taxes into a single tax would diminish cascading taxation and facilitate one-nation-one-market-one tax. It can reduce the overall cost of production with free movement of goods from one state to another without stopping at state borders for hours for payment of state tax or entry tax and reduction in paperwork significantly. GST would make Indian products more competitive in domestic and international markets, and boost investment and growth in the organized sector and thereby achieve inclusive growth in India.
Apart from this, the government of India has taken several policy decisions/measures toward Legislative and regulatory reforms, and improvement in India's economic growth pace. These actions would permit growth to return to uptrend in 2017-18, after a temporary decline in 2016-17. As per the Economic Survey 2016-17, the Indian economy should grow between 6.75 and 7.5 percent in FY 2017-18. However, the FY 2017-18 could face some disruption from GST implementation. Retail inflation is also headed to inch upwards owing to anticipated pressure from GST implementation and adoption of 7th Pay Commission by states. Despite various backdrops, they expect that the ongoing structural reforms by the government coupled with strong Indian fundamentals will Lay down positive narratives for Indian economy in the coming years. India with an outlook of strong growth, recovering corporate earnings and reform oriented government, offers a Lucrative opportunity to investors around the world.
AMALGAMATION
Pursuant to the scheme of amalgamation approved by the Hon'ble Allahabad High Court in 2013 -14, the shares of the Company held by the Company and Genus Paper & Boards Limited (formally known as Genus Paper Products Limited) were consequently transferred to Genus Shareholders' Trust for the benefit of the Company and its Shareholders. The trust Is administered by an independent trustee. The trust is holding 27,543,850 Equity shares of Genus Power Infrastructures Limited and 47,543,850 equity shares of Genus Paper & Boards Limited. (March 31,2016: 27,543,850 of Genus Power Infrastructures Limited and 47,543,850
Equity shares of Genus Paper and Boards Limited.)
During the current year, the Company has passed resolution to write off the investment made in Genus SA, Brazil and the same was reported by Authorised Dealer to Reserve Bank of India (RBI). The Company has obtained approval from the Authorised Dealer and surrendered the UIN to RBI in the current year and has consequently written off the investment from the books.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED 31ST DECEMBER, 2017
(INR
in Million)
|
|
|
Particulars |
31.12.2017 (Quarter Ended) |
30.09.2017 (Quarter Ended) |
31.12.2017 (Nine Months Ended) |
|
1 |
|
Income from
Operations |
|
|
|
|
|
|
Sales/Income from Operations (Gross) |
2001.888 |
1662.986 |
5507.603 |
|
|
|
b) Other Operating Income |
75.956 |
53.152 |
191.108 |
|
|
Total Income from
Operations (Net) |
2077.844 |
1716.138 |
5698.711 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
1609.613 |
1194.955 |
3897.051 |
|
|
b) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(209.305) |
(62.815) |
(193.553) |
|
|
c) |
Excise duty on sales |
0.000 |
0.507 |
15.058 |
|
|
d) |
Employee benefit expenses |
213.285 |
204.571 |
612.613 |
|
|
e) |
Other expenses |
187.238 |
167.698 |
598.312 |
|
|
f) |
Finance Costs |
43.356 |
42.338 |
127.734 |
|
|
g) |
Depreciation and amortization expense |
54.041 |
45.545 |
154.432 |
|
|
Total Expenses |
1898.228 |
1592.799 |
487.124 |
|
|
|
|
|
|
|
|
|
3 |
Profit before Tax |
179.616 |
123.339 |
487.124 |
|
|
4 |
Tax Expense |
47.432 |
34.049 |
123.375 |
|
|
5 |
Net Profit for the
period after tax |
132.184 |
89.290 |
363.749 |
|
|
|
|
|
|
|
|
|
6 |
Other Comprehensive Income |
|
|
|
|
|
|
Items that will reclassified of profit or loss |
(0.007) |
4.624 |
4.617 |
|
|
|
Items that will not be reclassified of profit or loss |
186.200 |
(0.001) |
1.308 |
|
|
|
|
|
|
|
|
|
|
Total
Comprehensive Income |
185.500 |
4.623 |
5.925 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.51 |
0.35 |
1.41 |
|
NOTE :
1. The above unaudited standalone financial results of Genus Power Infrastructures limited (”the Company") for the quarter and nine months ended December 31, 2017 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on January 24, 2018. The joint statutory auditors have carried out a limited review and Issued an unqualified report thereon.
2. The above standalone unaudited financial results of the Company have been prepared in accordance with Indian Accounting Standards ('IND AS') as prescribed undersection 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended.
3. The Company’s business activity falls within a single line or business segment i.e., Power, in terms of IND AS 108 "Operating Segments".
4. The Board reviewed the total order book position or worth INR 1.163 Million.
5. Previous period/year figures have been regrouped/reclassified, wherever necessary to conform to those current period's Classification
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Other short term
borrowings |
|
|
|
Bills discounting |
405.360 |
381.032 |
|
Less: Amount disclosed under other current liabilities |
(6.817) |
(165.038) |
|
|
|
|
|
Total |
398.543 |
215.994 |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bank Guarantee Issued by banks and against which margin money of INR 35.171 Million (March 31. 2016: INR 181.032 Million. April 01,2015: INR 169.936 Million) was provided in the form of fixed deposits. |
734.942 |
522.408 |
|
Corporate guarantee to banks utilized to secure the credit facilities of others (The Holding Company have given guarantee to the extent of INR 2.300 Million (March 31, 2016: INR 0.025 Million; April 01. 2015: INR 0.025 Million)* |
1220.500 |
1638.800 |
|
Outstanding letter of credit issued by Banks against which margin money of INR 49.13 Million (March 31, 2016: INR 44 Million, April 01.2015: INR 13.714 Million) was provided in the form of Fixed deposits |
100.431 |
109.332 |
|
Claims arising from disputes not acknowledged as debts -Indirect taxes |
283.466 |
324.949 |
|
Claims arising from disputes not acknowledged as debts - direct taxes |
7.491 |
402.779 |
|
Claims against the Company not acknowledged as debts |
19.773 |
10.743 |
|
|
|
|
|
Total |
2366.603 |
3009.011 |
FIXED ASSETS
- Leasehold Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computers
- Windmill
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.23 |
|
|
1 |
INR 92.84 |
|
Euro |
1 |
INR 81.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
GAY |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.