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|
|
MIRA INFORM REPORT
|
Report No. : |
490161 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BEARDSELL LIMITED |
|
|
|
|
Registered
Office : |
47, Greames Road, Chennai – 600006, Tamilnadu |
|
Tel. No.: |
91-44-28293296/ 28290901 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
23.11.1936 |
|
|
|
|
Com. Reg. No.: |
18-001428 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 46.832 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L65991TN1936PLC001428 |
|
|
|
|
IEC No.: |
0488002532 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1429P |
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|
|
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GSTIN/UIN : |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturer and supplier of Expanded Polystyrene (EPS) products, popularly known as thermocole and Prefabricated Buildings that have wide industrial applications. The company also undertakes erection, commissioning and maintenance works in the field of hot and cold insulation solutions. In addition, the company has trading operations in domestic and international market. (Registered Activity) |
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|
|
|
No. of Employees
: |
253 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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Comments : |
Beardsell Limited (BL), incorporated in 1936, is a Chennai-based
company engaged in the manufacture of pre-fab structures, industrial products
(expanded polystryrene sheets, rigid polyurethane foam slabs). It is an
established company having good track record. For the financial year ended 2017, the company has witnessed a growth
in its revenue and has achieved fair profit margin at 3.93% (approximately). The company possesses sound financial profile marked by healthy networth
base along with low debt level of the company. The company also derives strength from its long established track
record of business operations. Trade relations are reported as fair. Business is active. Payment
terms are seems to be regular and as per commitments. 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
SMERA |
|
Rating |
Long Term Rating=(BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.12.2017 |
|
Rating Agency Name |
SMERA |
|
Rating |
Short Term Rating=(A3+) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
30.12.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
SUBJECT’S name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial Reconstruction)
list as of 06.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Tilak |
|
Designation : |
Assistant Manager (Account) |
|
Contact No.: |
91-44-28293296 |
|
Date : |
03.02.2018 |
LOCATIONS
|
Registered/ Corporate Office : |
47, Greames Road, Chennai – 600006, Tamilnadu, India |
|
Tel. No.: |
91-44-28293296/ 28290901 |
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Fax No.: |
91-44-2829 0391 |
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E-Mail : |
|
|
Website : |
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|
|
|
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Factory 1 : |
TTC Industrial Area, Thane Belapur Road, Navi Mumbai,
Maharashtra, India |
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|
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Factory 2 : |
Govindamedu Village, Killachery (P.O and Panchayat)
Mappedu, Thiruvallur District, Tamilnadu, India |
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|
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Factory 3 : |
Bonthapally Village, Jinnaram Mandal, Medak District,
Andhra Pradesh, India |
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Factory 4 : |
B-113/1, M.I.D.C., Tasawade, P.O. Umbaraj, Karad, Taluka
Karad, District: Satara, Maharashtra, India |
|
|
|
|
Branch Office 1 : |
Plot No.3, Jyothi Colony, Near AOC Centre Opposite Gansham Super
Market Lane, Kharkhana, Secunderabad – 500015, Telangana, India |
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Branch Office 2 : |
No.2, Champaka Mansion, 2nd Floor, National Highway School Road, V.V. Puram, Near Jain College, Bangalore – 560004, Karnataka, India |
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|
|
|
Branch Offices : |
Located at: · New Delhi · Mumbai · Ahmedabad · Hyderabad · Bangalore · Chennai · Kochi · Vishakapatnam ·
Coimbatore |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Bharat Anumolu |
|
Designation : |
Managing Director |
|
Address : |
H No 12 Park View Enclave, Road No 2 Banjara Hills, Hyderabad-500033, Telangana, India |
|
Date of Appointment : |
27.08.2007 |
|
DIN No.: |
02660220 |
|
|
|
|
Name : |
Mr. Ramaswamy Gowrishankar |
|
Designation : |
Director |
|
Address : |
4/241, MGR Salai, Palavakkam, Chennai-600041, Tamilnadu, India |
|
Date of Appointment : |
24.09.2006 |
|
DIN No.: |
00104597 |
|
|
|
|
Name : |
Anumolu Jayashree |
|
Designation : |
Director |
|
Address : |
Park View Enclave, 8-2-120/117/13, Road No.2, Banjara Hills, Hyderabad- 500034, Telangana, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
00845666 |
|
|
|
|
Name : |
Anumolu Amrith |
|
Designation : |
Director |
|
Address : |
H 12 Park View Enclave Road No 2, Banjarahills, Hyderabad-500033, Telangana, India |
|
Date of Appointment : |
12.08.2010 |
|
DIN No.: |
03044661 |
|
|
|
|
Name : |
Velu Singh |
|
Designation : |
Director |
|
Address : |
Principal's Quarters LIC Zonal Training Centre, Prithvipakkam Ambattur, Chennai-600053, Tamilnadu, India |
|
Date of Appointment : |
12.08.2010 |
|
DIN No.: |
03129164 |
|
|
|
|
Name : |
Mr. Vijayalakshmi Ravindranath |
|
Designation : |
Additional Director |
|
Address : |
301, Vaishnavi Springs, 49/5, Rangarao Road, Near Ramakrishna Ashrama, Shankarpuram, Bangalore – 560004, Karnataka, India |
|
Date of Appointment : |
20.10.2017 |
|
DIN No.: |
07956194 |
KEY EXECUTIVES
|
Name : |
Mr. Murali Krishnamurthy |
|
Designation : |
Company Secretary |
|
Address : |
Sri Krishna Apartment, Plot No.3, Rajarathnam, 4th Street, Ullagaram, Chennai – 600091, Tamilnadu, India |
|
Date of Appointment : |
11.01.2008 |
|
PAN No.: |
ALFPK3479B |
|
|
|
|
Name : |
Mr. Sridharan Varadhan Vinjamoore |
|
Designation : |
Chief Financial Officer |
|
Address : |
14, Bangaru Colony, 2nd Street KK Nagar, Chennai – 600078, Tamilnadu, India |
|
Date of Appointment : |
30.09.2017 |
|
PAN No.: |
AAZPS2320L |
|
|
|
|
Name : |
Mr. Tilak |
|
Designation : |
Assistant Manager (Account) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2017
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as a
% of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter and Promoter
Group |
21065820 |
74.97 |
|
|
(B) Public |
7033188 |
25.03 |
|
|
Grand
Total |
28099008 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as a
% of total no. of shares (calculated as per SCRR, 1957)As a % of |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
17737500 |
63.13 |
|
|
ANUMOLU JAYASREE |
9091614 |
32.36 |
|
|
ANUMOLU BHARAT . . |
8645286 |
30.77 |
|
|
LALITHAMBA PANDA |
600 |
0.00 |
|
|
Any Other (specify) |
3328320 |
11.84 |
|
|
GUNNAM SUBBA RAO
INSULATION PRIVATE LIMITED |
3328320 |
11.84 |
|
|
Sub Total A1 |
21065820 |
74.97 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
21065820 |
74.97 |
Statement showing shareholding
pattern of the Public shareholder
|
Category &
Name of the Shareholders |
No. of fully
paid up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Financial Institutions/
Banks |
24240 |
0.09 |
|
|
Sub Total B1 |
24240 |
0.09 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
|
|
Central Government/ State
Government(s)/ President of India |
108000 |
0.38 |
|
|
Sub Total B2 |
108000 |
0.38 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital
upto INR 0.200 Million |
4072663 |
14.49 |
|
|
Individual share capital
in excess of INR 0.200 Million |
1976025 |
7.03 |
|
|
SUNITHA VEMULAPALLI |
637350 |
2.27 |
|
|
ANUMOLU SUBBA RAO |
300000 |
1.07 |
|
|
Any Other (specify) |
852260 |
3.03 |
|
|
Bodies Corporate |
695783 |
2.48 |
|
|
HYDERABAD EPS PRODUCTS |
300000 |
1.07 |
|
|
FOREIGN NATIONALS |
1200 |
0.00 |
|
|
Clearing Members |
7393 |
0.03 |
|
|
HUF |
96190 |
0.34 |
|
|
NRI – Non- Repat |
7700 |
0.03 |
|
|
NRI – Repat |
43994 |
0.16 |
|
|
Sub Total B3 |
6900948 |
24.56 |
|
|
B=B1+B2+B3 |
7033188 |
25.03 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supplier of Expanded Polystyrene (EPS) products, popularly known as thermocole and Prefabricated Buildings that have wide industrial applications. The company also undertakes erection, commissioning and maintenance works in the field of hot and cold insulation solutions. In addition, the company has trading operations in domestic and international market. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
253 (Approximately) |
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Bankers : |
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Facilities : |
Notes: Long-term
Borrowings The Rupee term loans from Bank of India are secured by exclusive charge on the entire fixed and current assets of the Company. They are also secured by deposit of the Title Deeds of all its properties except at Thane and Bihar. These term loans are repayable over a period of six years and the floating interest rate is 11.00% (P.Y. 13.25%) Short-term
borrowings Working capital facilities from Bank of India are secured by exclusive charge on the entire fixed and current assets of the Company. They are also secured by deposit of the Title Deeds of all its properties except at Thane and Bihar. The company has not defaulted in repayment of the loans,
public deposits and interest thereon. |
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASV N Raman Tower, 52, Venkatnarayana Road, T. Nagar, Chennai-600017,
Tamil Nadu, India |
|
Tel. No.: |
91-44-66885000 |
|
Fax No.: |
91-44-66885050 |
|
|
|
|
Secretarial Auditor |
|
|
Name : |
Laskhmmi Subramanian and Associates Chartered Accountants |
|
|
|
|
Cost Auditor |
|
|
Name : |
Mr. M. Krishnaswamy Chartered Accountant |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprise that is
controlled by the Company |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4683168 |
Equity Shares |
INR 10/- each |
INR 46.832
Million |
|
|
|
|
|
Reconciliation of
Number of Shares and amount outstanding at the beginning and at the end of
reporting period
|
PARTICULARS |
As on 31.03.2017 |
|
|
Number of shares held |
Amount In
Million |
|
|
Balance as at the beginning of the year |
4683168 |
46.832 |
|
Add / Less : Movements during the year |
-- |
-- |
|
Balance as at the end of
the year |
4683168 |
46.832 |
List of shareholders holding
more than 5% of the total number of shares issued by the company
|
Name of shareholder |
As on 31.03.2017 |
|
|
Number of shares held |
% Holding |
|
|
Bharat Anumolu |
1440881 |
30.77 % |
|
A. Jayasree |
1515269 |
32.36 % |
|
Gunnam Subba Rao Insulation Private Limited |
554720 |
11.84 % |
Terms attached to
equity shares
The Company has issued only one class of equity shares having a par value of INR 10/- per share. Each holder of equity share is entitled to one vote per share. The Company declares dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the Annual General Meeting. Repayment of capital will be in proportion to the number of equity shares held.
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 |
46.832 |
46.832 |
46.832 |
|
(b) Reserves & Surplus |
362.095 |
304.589 |
278.500 |
|
(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) |
408.927 |
351.421 |
325.332 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
146.666 |
155.535 |
146.365 |
|
(b) Deferred tax liabilities (Net) |
22.416 |
21.546 |
18.564 |
|
(c) Other long term
liabilities |
1.909 |
1.484 |
0.323 |
|
(d) Long-term
provisions |
7.016 |
12.984 |
12.871 |
|
Total Non-current
Liabilities (3) |
178.007 |
191.549 |
178.123 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
132.869 |
123.807 |
150.779 |
|
(b) Trade
payables |
281.272 |
289.972 |
230.244 |
|
(c) Other
current liabilities |
54.956 |
62.709 |
56.269 |
|
(d) Short-term
provisions |
14.873 |
0.326 |
7.598 |
|
Total Current
Liabilities (4) |
483.970 |
476.814 |
444.890 |
|
|
|
|
|
|
TOTAL |
1070.904 |
1019.784 |
948.345 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
401.326 |
402.890 |
397.489 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.374 |
15.536 |
33.913 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
15.920 |
15.920 |
13.808 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
13.078 |
20.742 |
33.222 |
|
(e) Other
Non-current assets |
2.765 |
2.500 |
0.000 |
|
Total Non-Current
Assets |
437.463 |
457.588 |
478.432 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
86.734 |
82.685 |
90.208 |
|
(c) Trade
receivables |
272.604 |
252.289 |
230.379 |
|
(d) Cash
and cash equivalents |
41.660 |
47.345 |
50.252 |
|
(e) Short-term
loans and advances |
196.115 |
146.067 |
98.487 |
|
(f) Other
current assets |
36.328 |
33.810 |
0.587 |
|
Total
Current Assets |
633.441 |
562.196 |
469.913 |
|
|
|
|
|
|
TOTAL |
1070.904 |
1019.784 |
948.345 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1673.874 |
1496.953 |
1302.922 |
|
|
Other Income |
17.555 |
15.335 |
17.320 |
|
|
TOTAL |
1691.429 |
1512.288 |
1320.242 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
479.770 |
379.892 |
373.000 |
|
|
Purchases of
Stock-in-Trade |
672.676 |
685.283 |
611.264 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.635) |
(0.559) |
(4.675) |
|
|
Employees benefits
expense |
155.525 |
138.983 |
112.076 |
|
|
Other expenses |
197.943 |
173.095 |
152.363 |
|
|
TOTAL |
1505.279 |
1376.694 |
1244.028 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
186.150 |
135.594 |
76.214 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
44.407 |
52.026 |
46.286 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
141.743 |
83.568 |
29.928 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
33.712 |
32.233 |
30.450 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
108.031 |
51.335 |
(0.522) |
|
|
|
|
|
|
|
Less |
TAX |
42.070 |
18.482 |
0.461 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
65.961 |
32.853 |
(0.983) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
191.197 |
165.108 |
172.305 |
|
|
|
|
|
|
|
Less |
DEPRECIATION ON
TRANSITION |
0.000 |
0.000 |
0.578 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim Dividend paid on
Equity Shares |
7.025 |
5.620 |
4.683 |
|
|
Tax on Dividend |
1.430 |
1.144 |
0.953 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
248.703 |
191.197 |
165.108 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
12.175 |
115.529 |
126.648 |
|
|
TOTAL EARNINGS |
12.175 |
115.529 |
126.648 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
22.566 |
7.333 |
30.570 |
|
|
Traded goods |
19.459 |
100.529 |
96.951 |
|
|
Capital Goods |
5.411 |
1.102 |
6.072 |
|
|
TOTAL IMPORTS |
47.436 |
108.964 |
133.593 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
14.08 |
7.02 |
(0.21) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
17.024 |
17.024 |
22.300 |
|
Cash generated from operations |
67.036 |
117.702 |
13.935 |
|
Net cash flow from operating activity |
52.375 |
111.386 |
10.571 |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
|
Unaudited |
1st Quarter |
2nd Quarter |
|
Net Sales |
380.900 |
359.300 |
|
Total Expenditure |
378.700 |
351.200 |
|
PBIDT (Excl OI) |
2.200 |
8.100 |
|
Other Income |
3.300 |
1.300 |
|
Operating Profit |
5.500 |
9.400 |
|
Interest |
9.600 |
11.500 |
|
Exceptional Items |
NA |
NA |
|
PBDT |
(4.100) |
(2.100) |
|
Depreciation |
7.600 |
8.700 |
|
Profit Before Tax |
(11.700) |
(10.800) |
|
Tax |
(4.200) |
(1.200) |
|
Provisions and contingencies |
NA |
NA |
|
Profit After Tax |
(7.500) |
(9.600) |
|
Extraordinary Items |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
|
Other Adjustments |
NA |
NA |
|
Net Profit |
(7.500) |
(9.600) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
59.44 |
61.52 |
64.54 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
6.14 |
5.93 |
5.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
89.08 |
99.36 |
85.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.15 |
1.64 |
0.84 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.46 |
0.32 |
0.18 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.60 |
0.64 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.73 |
0.84 |
0.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.18 |
1.36 |
1.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.99 |
1.19 |
1.33 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.19 |
2.61 |
1.65 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
3.94 |
2.19 |
(0.08) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.16 |
3.22 |
(0.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
16.13 |
9.35 |
(0.30) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.31 |
1.18 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.13 |
1.01 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.38 |
0.34 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.33 |
6.33 |
6.82 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.31 |
1.18 |
1.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 59.00/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
46.832 |
46.832 |
46.832 |
|
Reserves & Surplus |
278.500 |
304.589 |
362.095 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
325.332 |
351.421 |
408.927 |
|
|
|
|
|
|
long-term borrowings |
146.365 |
155.535 |
146.666 |
|
Short term borrowings |
150.779 |
123.807 |
132.869 |
|
Current Maturities of
Long term debt |
22.300 |
17.024 |
17.024 |
|
Total borrowings |
319.444 |
296.366 |
296.559 |
|
Debt/Equity ratio |
0.982 |
0.843 |
0.725 |
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 |
1302.922 |
1496.953 |
1673.874 |
|
|
|
14.892 |
11.819 |
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 |
1302.922 |
1496.953 |
1673.874 |
|
Profit/(Loss) |
(0.983) |
32.853 |
65.961 |
|
|
(0.08%) |
2.19% |
3.94% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
46.832 |
46.832 |
|
(b) Reserves &
Surplus |
|
347.742 |
307.413 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Minority Interest |
|
0.008 |
0.009 |
|
Total Shareholders’ Funds
(1) + (2) |
|
394.582 |
354.254 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
169.645 |
190.003 |
|
(b) Deferred tax liabilities
(Net) |
|
22.416 |
21.546 |
|
(c) Other long term
liabilities |
|
1.909 |
1.484 |
|
(d) long-term provisions |
|
8.286 |
13.991 |
|
Total Non-current
Liabilities (3) |
|
202.256 |
227.024 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
155.223 |
146.626 |
|
(b) Trade payables |
|
349.387 |
343.314 |
|
(c) Other current
liabilities |
|
80.391 |
79.164 |
|
(d) Short-term provisions |
|
28.022 |
1.682 |
|
Total Current Liabilities
(4) |
|
613.023 |
570.786 |
|
|
|
|
|
|
TOTAL |
|
1209.861 |
1152.064 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
514.570 |
508.665 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
13.369 |
19.902 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Goodwill on consolidation |
|
24.212 |
24.212 |
|
(c) Non-current
Investments |
|
2.644 |
2.644 |
|
(d) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(e) Long-term Loan and Advances |
|
13.327 |
22.015 |
|
(f) Other Non-current
assets |
|
2.765 |
2.500 |
|
Total Non-Current Assets |
|
570.887 |
579.938 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
118.747 |
121.125 |
|
(c) Trade receivables |
|
362.123 |
288.908 |
|
(d) Cash and cash
equivalents |
|
48.033 |
52.607 |
|
(e) Short-term loans and
advances |
|
73.743 |
75.676 |
|
(f) Other current assets |
|
36.328 |
33.810 |
|
Total Current Assets |
|
638.974 |
572.126 |
|
|
|
|
|
|
TOTAL |
|
1209.861 |
1152.064 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1904.270 |
1608.473 |
|
|
Other Income |
|
21.517 |
22.099 |
|
|
TOTAL |
|
1925.787 |
1630.572 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
638.495 |
459.762 |
|
|
Purchases of Stock-in-Trade |
|
672.676 |
662.916 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(0.362) |
21.675 |
|
|
Employees benefits
expense |
|
179.955 |
145.157 |
|
|
Other expenses |
|
235.378 |
195.633 |
|
|
TOTAL |
|
1726.142 |
1485.143 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
199.645 |
145.429 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
55.863 |
58.017 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
143.782 |
87.412 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
53.569 |
37.570 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
90.213 |
49.842 |
|
|
|
|
|
|
|
Less |
TAX |
|
42.116 |
18.490 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
BEFORE MINORITY INTEREST |
|
48.097 |
31.352 |
|
|
|
|
|
|
|
Less |
LOSS OF MINORITY
INTEREST |
|
0.001 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT FOR THE YEAR |
|
48.098 |
31.353 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
10.27 |
6.69 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company
is a prominent manufacturer and supplier of Expanded Polystyrene products,
popularly known as thermocole and Prefabricated Buildings that have wide
industrial applications. The company also undertakes erection, commissioning
and maintenance works in the field of hot and cold insulation solutions. The
company has manufacturing facilities in Thane, Chennai, Hyderabad and Karad and
branches with geographical spread across India. In addition, the company has
trading operations in domestic and international market.
MANAGEMENT DISCUSSIONS AND ANALYSIS
Industry Structure and Development
The prefab
building elements manufactured by the Company finds applications in cold
storages, Food Processing Plants, Pharmaceuticals and Roofing applications.
Expanded Polystyrene has varied applications in insulation and packaging.
SteilWallz panels finds applications in construction of low cost housing. The
Company also undertakes Contracts with in-house /outsourced materials.
Outlook on Opportunities and Threats
With
increased industrial construction and retail business activities and Government
of India's thrust and encouraging policies on cold storages with latest
technologies for improving post harvest infrastructure, there is likely to be
increase in demand for the Company's products.
Fluctuating raw material prices can have negative impact on operations.
Major raw materials are:
a) Expanded Polystyrene (a petroleum derivative): Increase in petroleum
prices impacts this raw material price.
b) Steel: The upward trend in the global steel market has pushed up the
price of steel, a major component in Isobuild Prefab Panels.
Segment wise Performance
Insulation
division which comprises manufacture of EPS Products / Prefab Panels and related
Contracting activities earned a revenue of INR 1568.130 Million 93.68% of the
total revenue.
Trading and
others Segment which comprises Motors and Exports earned a revenue of INR
105.744 Million 6.32% of the total revenue.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Public deposits |
|
|
|
-From related parties |
4.000 |
5.000 |
|
-From others |
6.199 |
0.957 |
|
Long-term maturities of Hire Purchase loans |
6.946 |
2.792 |
|
Inter Corporate deposits |
65.000 |
65.000 |
|
Loans and advances from related parties |
1.200 |
2.000 |
|
Loans and advances from others |
0.300 |
0.000 |
|
Short-term
borrowings |
|
|
|
Public deposits |
|
|
|
- From related parties |
5.000 |
0.000 |
|
- From others |
16.150 |
19.180 |
|
Total |
104.795 |
94.929 |
Notes:
Long term borrowings
Hire purchase loans are secured by hypothecation of vehicles acquired out of the loan and are payable over a period of two to three years. For current maturities of hire purchase loans
The Company has not defaulted in repayment of the loans, public deposits and interest thereon.
INDEX
OF CHARGES
|
Charges Registered |
||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Amount |
Address |
|
1 |
G70222401 |
100140133 |
Bank of India |
17/11/2017 |
843000.0 |
CHENNAI OVERSEAS BRANCHSTAR HOSUE NO.30 OLD NO.17,ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
2 |
G55229827 |
100125923 |
Bank of India |
20/09/2017 |
700000.0 |
CHENNAI OVERSEAS BRANCHSTAR HOSUE NO.30 OLD NO.17,ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
3 |
G54926282 |
100125446 |
Bank of India |
31/08/2017 |
852000.0 |
CHENNAI OVERSEAS BRANCHSTAR HOSUE NO.30 OLD NO.17,ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
4 |
G29629300 |
100065687 |
SUNDARAM FINANCE LIMITED |
17/11/2016 |
1446415.0 |
21 PATULLOS ROAD CHENNAI TAMILNADU 600002 INDIA |
|
5 |
C70866603 |
10603963 |
Bank of India |
30/10/2015 |
1250000.0 |
CHENNAI OVERSEAS BRANCHSTAR HOSUE NO.30 OLD NO.17,ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
6 |
C70866090 |
10603964 |
Bank of India |
30/10/2015 |
1000000.0 |
CHENNAI OVERSEAS BRANCHSTAR HOSUE NO.30 OLD NO.17,ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
7 |
C70868252 |
10603967 |
Bank of India |
21/09/2015 |
19700000.0 |
CHENNAI OVERSEAS BRANCHSTAR HOSUE NO.30 OLD NO.17,ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
8 |
C65427114 |
10593537 |
BANK OF INDIA |
10/08/2015 |
400000.0 |
STAR HOUSE, NO.30 OLD NO.17 ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
9 |
C58797663 |
10579743 |
BANK OF INDIA |
18/06/2015 |
1000000.0 |
STAR HOUSE, NO.30 OLD NO.17 ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
|
10 |
C35361393 |
10533861 |
Bank of India |
01/12/2014 |
95300000.0 |
CHENNAI OVERSEAS BRANCHSTAR HOSUE NO.30 OLD NO.17,ERRABALU STREET CHENNAI TAMILNADU 600001 INDIA |
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30.09.2017
(INR In Million)
|
Particulars |
Quarter Ended |
Half Year Ended |
|
|
|
30.09.2017 (Unaudited) |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
Income from
Operations |
|
|
|
|
Revenue from operations |
359.300 |
380.100 |
739.400 |
|
Other Income |
1.300 |
4.100 |
5.400 |
|
Total revenue |
360.600 |
384.200 |
744.800 |
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
236.800 |
228.200 |
465.000 |
|
Purchases of Stock-in-Trade |
19.500 |
17.600 |
37.100 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(4.700) |
1.200 |
(3.500) |
|
Excise duty on sale of products |
0.000 |
28.600 |
28.600 |
|
Employees benefits expense |
44.400 |
41.000 |
85.400 |
|
Finance Costs |
11.500 |
9.600 |
21.100 |
|
Depreciation and amortization expense |
8.700 |
7.600 |
16.300 |
|
Other expenses |
54.300 |
59.300 |
113.600 |
|
Share of loss from partnership firm |
0.900 |
2.800 |
3.700 |
|
Total expenses |
371.400 |
395.900 |
767.300 |
|
|
|
|
|
|
Profit/ (Loss)
before tax |
(10.800) |
(11.700) |
(22.500) |
|
Tax Expense |
|
|
|
|
-Current Tax |
0.000 |
0.000 |
0.000 |
|
-Deferred Tax |
(1.200) |
(4.200) |
(5.400) |
|
Total Tax expenses |
(1.200) |
(4.200) |
(5.400) |
|
Net Profit/ (Loss)
for the period |
(9.600) |
(7.500) |
(17.100) |
|
Other Comprehensive income, net of tax |
(2.400) |
1.400 |
(1.000) |
|
Total comprehensive
income for the period |
(12.000) |
(6.100) |
(18.100) |
|
Paid up equity share capital (Face value of INR 2/- each) |
56.200 |
56.200 |
56.200 |
|
Earnings per share |
|
|
|
|
-Basic & Diluted EPS (IN INR) |
(0.38) |
(0.42) |
(0.80) |
SEGMENT WISE REVENUE,
RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND HALF YEAR ENDED 30.09.2017
(INR In Million)
|
Particulars |
Quarter Ended |
Half Year Ended |
|
|
|
30.09.2017 (Unaudited) |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
Segment revenue |
|
|
|
|
Insulation |
344.300 |
357.100 |
701.400 |
|
Trading |
17.800 |
23.800 |
41.600 |
|
Total Reserve |
362.100 |
380.900 |
743.000 |
|
|
|
|
|
|
Segment results –
Profit before Interest |
|
|
|
|
Insulation |
24.900 |
20.300 |
45.200 |
|
Trading |
(0.100) |
(0.700) |
(0.800) |
|
Total Segment
Results |
24.800 |
19.600 |
44.400 |
|
Less: Interest expenses |
(11.500) |
(9.600) |
(21.100) |
|
Less: Other un – allocable expenditure |
(24.100) |
(21.700) |
(45.800) |
|
Profit before tax |
(10.800) |
(11.700) |
(22.500) |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
Insulation |
978.800 |
1037.800 |
978.800 |
|
Trading |
35.000 |
29.800 |
35.000 |
|
Unallocable corporate assets |
56.600 |
91.800 |
56.600 |
|
Total Segment
Assets |
1070.400 |
1159.400 |
1070.400 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
Insulation |
324.500 |
391.400 |
324.500 |
|
Trading |
33.100 |
27.600 |
33.100 |
|
Unallocable corporate assets |
322.000 |
342.700 |
322.000 |
|
Total Segment
Liabilities |
679.600 |
761.700 |
679.600 |
STATEMENT OF ASSETS
AND LIABILITIES AS ON 30.09.2017
(INR In Million)
|
SOURCES OF FUNDS |
30.09.2017 (Unaudited) |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
56.200 |
|
(b) Reserves &
Surplus |
334.600 |
|
(c) Money received
against share warrants |
0.000 |
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
390.800 |
|
|
|
|
(3) Non-Current
Liabilities |
|
|
(a) long-term borrowings |
119.300 |
|
(b) Deferred tax
liabilities (Net) |
17.100 |
|
(c) Other long term
liabilities |
1.900 |
|
(d) long-term provisions |
6.700 |
|
Total Non-current
Liabilities (3) |
145.000 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
162.400 |
|
(b) Trade payables |
240.100 |
|
(c) Other current
liabilities |
121.800 |
|
(d) Short-term provisions |
10.300 |
|
Total Current Liabilities
(4) |
534.600 |
|
|
|
|
TOTAL |
1070.400 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
405.400 |
|
(ii) Intangible Assets |
0.000 |
|
(iii) Capital
work-in-progress |
9.700 |
|
(iv) Intangible assets
under development |
4.500 |
|
(b) Non-current
Investments |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
|
(d) Long-term Loan and Advances |
8.300 |
|
(e) Other Non-current
assets |
16.700 |
|
Total Non-Current Assets |
444.600 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
4.800 |
|
(b) Inventories |
110.300 |
|
(c) Trade receivables |
243.400 |
|
(d) Cash and cash
equivalents |
37.700 |
|
(e) Short-term loans and
advances |
196.100 |
|
(f) Other current assets |
33.500 |
|
Total Current Assets |
625.800 |
|
|
|
|
TOTAL |
1070.400 |
Notes:
- The above unaudited standalone financial results as reviewed by the Audit Committee have been approved by Board of Directors at its meeting held on December 14, 2017.
- Limited review of the financial results for the quarter and half year ended September 30, 2017 have been carried out by our statutory auditors. "
- In compliance with
Ministry of Corporate Affairs (MCA) notification dated February 16, 2016,
the Company has adopted Indian Accounting Standards (Ind AS) prescribed
under Section 133 of the Companies Act, 2013 read with relevant rules
issued thereunder w.e.f April 01, 2017. The date of transition into Ind AS
is April 1, 2016 and accordingly, these standalone financial results
have been prepared in accordance with the recognition and measurement principles
in Ind AS 34 - ""Interim Financial Reporting"" and
other accounting principles generally accepted in India. The impact
of transition has been accounted for in the opening reserves and the
comparative period figures have been re-stated accordingly. There is a
possibility that these quarterly and year-to-date financial results may
require adjustment before constituting the final Ind AS financial
statements as of and for the year ending March 31, 2018 due to changes in
financial reporting requirements arising from new or revised
standards or interpretations issued by MCA or changes in the use of one or more optional exemptions from full retrospective application as committed under Ind AS 101."
- The standalone financial results and other financial information for the quarter and half year ended September 30, 2016 are based previously issued standalone financial results prepared in accordance with the recognition and measurement principles of Accounting Standard 25 “Interim Financial Reporting”, as specified under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India, which were reviewed by our predecessor statutory auditors, as adjusted for the differences in the accounting principles adopted by the Company on transition to the Ind AS which are discussed. The restated Ind AS financial results for the quarter and half year ended September 30, 2016 have not been audited or reviewed by our statutory auditors. However, the management has exercised necessary due diligence to ensure that the unaudited standalone financial results for these periods provide a true and fair view of the Company's affairs."
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the Company not acknowledged as debts |
2.277 |
2.277 |
|
Sales tax demands against which the Company has filed appeals and for which no provision is considered necessary as the Company is hopeful of successful outcome in the appeals. |
48.757 |
52.496 |
|
Total |
51.034 |
54.773 |
FIXED ASSETS
- Freehold Land
- Leasehold Land
- Buildings on Leasehold Land
- Buildings
- Plant and Equipment
- Computer
- Furniture, Fixtures & Office Equipment
- Leasehold improvements
- Vehicles
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.02 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWE |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
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.