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|
|
MIRA INFORM REPORT
|
Report No. : |
490083 |
|
Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
EMPIRE INDUSTRIES LIMITED (w.e.f 01.07.1975) |
|
|
|
|
Formerly Known
As : |
EMPIRE DYEING AND MANUFACTURING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
414, Senapati Bapat Marg, Lower Parle, Mumbai – 400013, Maharashtra |
|
Tel. No.: |
91-22-66555453 |
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|
|
|
Country : |
India |
|
|
|
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Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
17.10.1900 |
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|
|
|
Com. Reg. No.: |
11-000176 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 60.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17120MH1900PLC000176 |
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|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE2757R |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is
engaged in the following activities: · Manufacture of Amber Glass Bottles for the Pharmaceutical Industry. · Representing a number of foreign manufacturers of Precision Machine Tools, Measuring Instruments, Testing Machines, designing and marketing of Industrial Equipments. · Imports Frozen and Chilled Foods from around the Globe and distribute it to leading chains of Five / Four Star Hotels and leading Restaurants. · Provides office space on Leave and License basis to multinational companies and banks. · Developing land admeasuring to 35 Acres at Ambernath with the consent of MIDC. ·
Provides flexible and customizable work space
solutions to clients to run their business without increasing massive
start-up costs and over-head expenses (Registered Activity) |
|
|
|
|
No. of Employees
: |
696 (Approximately) |
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is an old and well-established company incorporated in the year 1900 having fine track record. For the financial year 2017, the company has healthy scale of operations marked by decent growth in its revenue along with good profit earnings. Rating takes into consideration, the robust financial risk profile marked by strong net worth base along with strong debt protection metrics and healthy liquidity position. Rating continue to derive strength from its long standing experience of the company in the vitrum glass manufacturing business and the agency business with an established track record of catering to a reputed client base. Further, as per quarterly results till September 2017, the company has registered steady operating margins. The company is listed on BSE at the price held at 2226.90 against its face value of INR 10. Payments are seems to be regular and as per commitments. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating = A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
13.06.2017 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
13.06.2017 |
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
Management Non Co-Operative (91-22-66555453)
LOCATIONS
|
Registered Office : |
414, Senapati Bapat Marg, Lower Parle, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66555453 |
|
Fax No.: |
91-22-24939143 / 24937203 /24930183 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory : |
Vitrum Glass, L. B. Shastri Marg, Vikhroli, Mumbai – 400083, |
|
|
|
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Branch Office: |
Plot No-22, MIDC, Chikhloli Village, West Ambernath, Thane-421505,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Satish Chandra Malhotra |
|
Designation : |
Managing Director |
|
Address: |
Windmere, Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India |
|
Date of Appointment: |
03.12.1963 |
|
DIN No: |
00026704 |
|
|
|
|
Name : |
Mr. Ranjit Malhotra |
|
Designation : |
Managing Director |
|
Address: |
Flat No B34, Tahnee Heights Co-Operative Hosing Society Limited, 66
Nepean Sea Road Petit Hall, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment: |
10.04.1981 |
|
DIN No: |
00026933 |
|
|
|
|
Name : |
Mr. Dileep Malhotra |
|
Designation : |
Managing Director |
|
Address: |
Windmere, Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India |
|
Date of Appointment: |
28.11.1991 |
|
DIN No: |
00027168 |
|
|
|
|
Name : |
Mr. Chandrakant Poonamchand Shah |
|
Designation : |
Director |
|
Address: |
Parekh Building, 18 Mama Parmanand Marg, Mumbai - 400004, Maharashtra,
India |
|
Date of Appointment: |
01.09.2008 |
|
DIN No: |
00450394 |
|
|
|
|
Name : |
Mr. Bipinchandra Chimanlal Gandhi |
|
Designation : |
Director |
|
Address: |
23.24,Westview Co-Operative Hosing Society, 309, S.V. Road, Santacruz
(West), Mumbai - 400054, Maharashtra, India |
|
Date of Appointment: |
25.06.2009 |
|
DIN No: |
00780094 |
|
|
|
|
Name : |
Mr. Subodh Chandra |
|
Designation : |
Director |
|
Address: |
Kusum Kunj,, Civil Lines, Pilibhit - 262001, Uttar Pradesh, India |
|
Date of Appointment: |
30.04.2012 |
|
DIN No: |
02076844 |
|
|
|
|
Name : |
Mrs. Uma Ranjit Malhotra |
|
Designation : |
Director |
|
Address: |
Flat No B 34 Tahnee Heights Co-Operative Hosing Society, 66 Nepean Sea
Road, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment: |
29.05.2014 |
|
DIN No: |
06848613 |
|
|
|
|
Name : |
Mr. Rajbir Singh |
|
Designation : |
Additional Director |
|
Address: |
Kanwal Mansion, 23 Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra,
India |
|
Date of Appointment: |
28.06.2007 |
|
DIN No: |
00826402 |
KEY EXECUTIVES
|
Name : |
Suhas Chandra Nanda |
|
Designation : |
Quarter No. A -5, I O C Quarter, Khopoli – 410203, Maharashtra, India |
|
Address : |
CFO(KMP) |
|
Date of Appointment : |
28.10.2016 |
|
PAN No.: |
ABOPN0862C |
|
|
|
|
Audit Committee: |
· Rasheed A Maskati · C.P. SHAH · Rajbir Singh |
|
|
|
|
Stakeholders’ Relationship Committee |
· Rasheed a Maskati Chairman · C.P. SHAH · Rajbir Singh |
|
|
|
|
Nomination and Remuneration Committee |
· Rasheed A Maskati Chairman · Rajbir Singh · C.P. SHAH |
|
|
|
|
CSR Committee |
· Uma Ranjit Malhotra Chairperson · Dileep Malhotra · Rajbir Singh |
|
|
|
|
Risk Management Committee |
· Dileep Malhotra · Rajbir Singh · C.P. SHA |
SHAREHOLDING PATTERN
AS ON DECEMBER 2017
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
(A) Promoter & Promoter Group |
43,53,226 |
72.55 |
|
|
(B) Public |
16,46,772 |
27.45 |
|
|
Grand Total |
59,99,998 |
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 1957)As |
|
|
A1) Indian |
0.00 |
||
|
Any Other (specify) |
43,53,226 |
72.55 |
|
|
Dileep Malhotra |
14,75,975 |
24.60 |
|
|
Ranjit Malhotra |
9,68,403 |
16.14 |
|
|
Satishchandra Malhotra |
95,582 |
1.59 |
|
|
Uma Malhotra |
1,25,222 |
2.09 |
|
|
Kabir Malhotra |
1,95,874 |
3.26 |
|
|
Ushadevi Malhotra |
1,98,117 |
3.30 |
|
|
Anajali Malhotra |
1,27,248 |
2.12 |
|
|
Empire International Private Limited |
3,27,012 |
5.45 |
|
|
Arjun Transport Company Private Limited |
7,84,978 |
13.08 |
|
|
S C MALHOTRA, Trustee, Empire Dyeing Employees Welfare Fund |
9,999 |
0.17 |
|
|
S C MALHOTRA, Trustee, Empire Machine Tool Employees Welfare Fund |
10,123 |
0.17 |
|
|
S C MALHOTRA, Trustee, EIL Corporate Employees Welfare Fund |
12,410 |
0.21 |
|
|
S C MALHOTRA, Trustee, Garlick Engineering Employees Welfare Fund |
11,998 |
0.20 |
|
|
S C MALHOTRA, Trustee, Vitrum Glass Employees Welfare Fund |
10,285 |
0.17 |
|
|
Sub Total A1 |
43,53,226 |
72.55 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
43,53,226 |
72.55 |
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 (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Financial
Institutions/ Banks |
414 |
0.01 |
|
|
Insurance Companies |
884650 |
14.74 |
|
|
Life Insurance
Corporation of India |
789741 |
13.16 |
|
|
The Oriental Insurance Company Limited |
94909 |
1.58 |
|
|
Sub Total B1 |
885064 |
14.75 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central Government/ State Government(s)/ President of India |
25225 |
0.42 |
|
|
Sub Total B2 |
25225 |
0.42 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital
upto INR 0.200 Million |
571623 |
9.53 |
|
|
Individual share
capital in excess of INR 0.200 Million |
53763 |
0.90 |
|
|
Any Other (specify) |
111097 |
1.85 |
|
|
Vishnu trading company private limited |
73348 |
1.22 |
|
|
Bodies Corporate |
27025 |
0.45 |
|
|
Clearing Members |
1507 |
0.03 |
|
|
NRI – Non- Repat |
3190 |
0.05 |
|
|
NRI |
6027 |
0.10 |
|
|
Sub Total B3 |
736483 |
12.27 |
|
|
B=B1+B2+B3 |
1646772 |
27.45 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
engaged in the following activities: · Manufacture of Amber Glass Bottles for the Pharmaceutical Industry. · Representing a number of foreign manufacturers of Precision Machine Tools, Measuring Instruments, Testing Machines, designing and marketing of Industrial Equipments. · Imports Frozen and Chilled Foods from around the Globe and distribute it to leading chains of Five / Four Star Hotels and leading Restaurants. · Provides office space on Leave and License basis to multinational companies and banks. · Developing land admeasuring to 35 Acres at Ambernath with the consent of MIDC. ·
Provides flexible and customizable work space
solutions to clients to run their business without increasing massive
start-up costs and over-head expenses (Registered Activity) |
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Products / Services
: |
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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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|
||||||||||
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Imports : |
Not Divulged |
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|
||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
696 (Approximately) |
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Bankers : |
|
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|
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Facilities : |
· The borrowings from banks on Cash Credit account are secured by hypothecation of Stocks and Book Debts and Second charge on the property of Glass Bottle Division and personal guarantees given by Chairman and Vice-Chairman. · The term loan from IndusInd Bank is secured by assignment of lease rentals receivable from some of the licencees of the Company’s properties situated at Vikhroli and Lower Parel, Mumbai together with first charge on properties leased to TCS at Empire Plaza, Vikhroli. ·
Motor Car Loan from a bank is secured by
hypothecation of specific vehicles purchased under the scheme |
|
Auditors : |
|
|
Name : |
D. P. Ghevaria and Company Chartered Accountants |
|
Address
(Office): |
47, Perin Nariman Street, 1st Floor, Fort, Mumbai-400001,
Maharashtra, India |
|
Address
(Residential): |
Hastiraj, A/15, 4th Floor, Bapubhai, Vashi Road, Vile Parle
(West), Mumbai-400056, Maharashtra, India |
|
Tel. No.: |
91-22-22665882 / 26716669 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other Related Parties: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,50,00,000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
50,000 |
Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 5.000 Million |
|
|
Total |
|
INR 155.000
Million |
Issued, Subscribed:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59,99,998 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
|
|
|
|
|
Details of Shareholders holding more than
5% shares
|
Equity Shares |
Number of Shares |
% held |
|
Dileep Malhotra |
14,75,975 |
24.60 |
|
Ranjit Malhotra |
9,68,403 |
16.14 |
|
Life
Insurance Corporation of India |
7,89,741 |
13.16 |
|
Arjun Transport Company Private Limited |
7,84,978 |
13.08 |
|
Empire International Private Limited |
3,27,012 |
5.45 |
The reconciliation of
the number of shares outstanding:
|
Name of Shareholder
|
Number
of Shares |
|
Equity Shares at the
beginning of the year |
59,99,998 |
|
Add : Shares issued
during the year |
Nil |
|
Equity Shares at the
end of the year |
59,99,998 |
Terms / rights
attached to equity shares
The Company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
The Board of Directors in its meeting held on 23rd May, 2017
has proposed a dividend of INR 25/- per Equity Share for the Financial Year
ended 31st March, 2017. The proposal is subject to the approval of shareholders
at the Annual General Meeting to be held on 27th July, 2017. The total dividend
for the year ended 31st March, 2017 when appropriated, shall amount to INR
180.536 Million (including corporate Dividend Tax of INR 30.536 Million).
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
60.000 |
60.000 |
60.000 |
|
(b) Reserves &
Surplus |
1764.623 |
1438.224 |
1305.053 |
|
(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) |
1824.623 |
1498.224 |
1365.053 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
574.465 |
660.287 |
429.783 |
|
(b) Deferred tax
liabilities (Net) |
73.456 |
53.813 |
36.615 |
|
(c) Other long term
liabilities |
1199.714 |
700.780 |
698.990 |
|
(d) long-term provisions |
181.087 |
150.201 |
128.594 |
|
Total Non-current
Liabilities (3) |
2028.722 |
1565.081 |
1293.982 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
733.106 |
732.044 |
511.410 |
|
(b) Trade payables |
319.503 |
548.128 |
416.494 |
|
(c) Other current
liabilities |
305.483 |
465.476 |
227.467 |
|
(d) Short-term provisions |
233.737 |
250.161 |
372.145 |
|
Total Current Liabilities
(4) |
1591.829 |
1995.809 |
1527.516 |
|
|
|
|
|
|
TOTAL |
5445.174 |
5059.114 |
4186.551 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2146.045 |
2160.318 |
1343.965 |
|
(ii) Intangible Assets |
5.274 |
11.339 |
9.662 |
|
(iii) Capital
work-in-progress |
0.784 |
0.017 |
844.047 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.003 |
0.003 |
0.003 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.303 |
29.725 |
22.306 |
|
(e) Other Non-current
assets |
52.955 |
53.663 |
70.585 |
|
Total Non-Current Assets |
2223.364 |
2255.065 |
2290.568 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1268.484 |
1045.408 |
804.803 |
|
(c) Trade receivables |
756.550 |
785.546 |
589.906 |
|
(d) Cash and cash
equivalents |
988.809 |
774.667 |
333.972 |
|
(e) Short-term loans and
advances |
93.120 |
65.882 |
78.051 |
|
(f) Other current assets |
114.847 |
132.546 |
89.251 |
|
Total Current Assets |
3221.810 |
2804.049 |
1895.983 |
|
|
|
|
|
|
TOTAL |
5445.174 |
5059.114 |
4186.551 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4015.866 |
3851.299 |
3541.991 |
|
|
Other Income |
56.789 |
49.606 |
50.391 |
|
|
TOTAL |
4072.655 |
3900.905 |
3592.382 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
494.837 |
494.408 |
453.021 |
|
|
Purchases of Stock-in-Trade |
1044.673 |
1077.030 |
974.999 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
39.742 |
24.593 |
(76.792) |
|
|
Employees benefits
expense |
743.120 |
668.833 |
639.343 |
|
|
Other expenses |
1080.803 |
975.788 |
924.401 |
|
|
TOTAL |
3403.175 |
3240.652 |
2914.972 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
669.480 |
660.253 |
677.410 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
90.629 |
96.690 |
93.071 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
578.851 |
563.563 |
584.339 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
89.609 |
96.879 |
124.298 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
489.242 |
466.684 |
460.041 |
|
|
|
|
|
|
|
Less |
TAX |
162.843 |
160.198 |
118.689 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
326.399 |
306.486 |
341.352 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
240.590 |
186.118 |
227.375 |
|
|
Freight |
458.853 |
371.259 |
359.278 |
|
|
Insurance |
8.755 |
8.847 |
124.102 |
|
|
TOTAL EARNINGS |
708.198 |
566.224 |
710.755 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
12.422 |
37.379 |
33.794 |
|
|
Components and Stores
parts |
58.500 |
6.004 |
3.615 |
|
|
Capital Goods |
106.952 |
7.880 |
19.515 |
|
|
Traded Goods |
960.763 |
565.681 |
304.120 |
|
|
TOTAL IMPORTS |
1138.637 |
616.944 |
361.044 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
54.4 |
51.08 |
56.89 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
608.077 |
565.753 |
646.321 |
|
Net cash flow from (used in) operations |
358.715 |
343.609 |
395.544 |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st
Quarter |
2st
Quarter |
|
Net sales |
|
1028.900 |
904.000 |
|
Total Expenditure |
|
854.600 |
730.200 |
|
PBIDT (Excluding Other Income) |
|
174.300 |
173.800 |
|
Other income |
|
29.200 |
13.800 |
|
Operating Profit |
|
203.500 |
187.600 |
|
Interest |
|
32.700 |
35.300 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
170.800 |
152.300 |
|
Depreciation |
|
42.400 |
29.500 |
|
Profit Before Tax |
|
128.400 |
122.800 |
|
Tax |
|
32.500 |
32.500 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit after tax |
|
95.900 |
90.300 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
(6.900) |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
89.000 |
90.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
68.76 |
74.45 |
60.79 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.31 |
4.90 |
6.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
75.75 |
127.31 |
106.46 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.53 |
0.63 |
0.84 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.31 |
0.30 |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.40 |
0.53 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.72 |
0.93 |
0.69 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.87 |
1.33 |
1.12 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.18 |
1.45 |
1.61 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.39 |
6.83 |
7.28 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.13 |
7.96 |
9.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.99 |
6.06 |
8.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.89 |
20.46 |
25.01 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.02 |
1.40 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.23 |
0.88 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.34 |
0.30 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
21.79 |
23.21 |
15.69 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.02 |
1.40 |
1.24 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 2226.90/- |
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 |
60.000 |
60.000 |
60.000 |
|
Reserves & Surplus |
1305.053 |
1438.224 |
1764.623 |
|
Net worth |
1365.053 |
1498.224 |
1824.623 |
|
|
|
|
|
|
long-term borrowings |
429.783 |
660.287 |
574.465 |
|
Short term borrowings |
511.410 |
732.044 |
733.106 |
|
Total borrowings |
941.193 |
1392.331 |
1307.571 |
|
Debt/Equity ratio |
0.689 |
0.929 |
0.717 |
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 |
3541.991 |
3851.299 |
4015.866 |
|
|
|
8.733 |
4.273 |
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 |
3541.991 |
3851.299 |
4015.866 |
|
Profit/(Loss) |
341.352 |
306.486 |
326.399 |
|
|
9.64% |
7.96% |
8.13% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
OPERATIONS:
VITRUM GLASS
Vitrum Glass is an acknowledged leader in the manufacture and marketing of high quality amber glass bottles for the pharmaceutical industry - both in India and abroad. The division’s fully automated plant produces more than one million glass bottles a day with bottle sizes ranging from 5ml to 500ml. The plant is located at Vikhroli, Mumbai. It boasts of a clientele of the best multinational pharmaceutical companies in India such as Glaxo Smith Kline Pharmaceuticals, Pfizer Limited, Merck Limited, Wardex Pharmaceuticals, Cipla Limited among others.
During the previous year, the division achieved a total turnover of INR 1395.900 Million. Out of the total turnover, exports also increased to INR 240.600 Million from INR 186.100 Million. There was an overall increase in profitability and this trend is expected to continue in the current year.
EMPIRE MACHINE
TOOLS – MFTM
The MFTM division is engaged in the business of Engineering Consultancy covering sales, service and turnkey project support of imported machines procured from globally reputed companies. The division relies on big investment plans in the private and public sectors. The division is prepared with the right products for the demands particularly in the aerospace and nuclear power sectors. These sectors will continue to give us the maximum opportunities for multifold growth in the coming years. In the Automotive sector, the market has not picked up. The overall order intake in the year was reasonably good in terms of volumes and margins in a sluggish market. In our endeavour to diversify revenue sources we have established contacts with suppliers from many non-traditional markets outside western Europe like USA, Canada, Korea, Russia, Ukraine, China that have not sold or have not been successful in India before. We want to play a greater role in managing contract execution progress with Customers and Principals in the future and ensure better performance. In order to increase revenue we are now also planning to step up sales of Spare parts for the large installation base of machines that we already have in the market. The division expects to improve its performance during the current year.
EMPIRE MACHINE
TOOLS - MCAT
(Metal Cutting
& Allied Technologies)
The MCAT division represents many state of the art machine tool companies in metal cutting in the world such as Waldrich Coburg (Germany), WFL (Austria), Goratu (Spain) among others. It serves many sectors such as Defence, Automobile, Aerospace, Heavy Engineering, Railways, Energy and Power, Steel, Tool Rooms and Fabricators. During the year under review, the order in flow has been low due to delay in finalization of projects by customers. The division’s focus this year will be on Aerospace, Railways and Automobile sectors. It expects orders (in flow) to grow by 20%, and thus foresees an improvement in performance.
EMPIRE INDUSTRIAL
EQUIPMENT
The EIE division is in the business of sourcing equipment from abroad and also providing turnkey solutions to sectors such as Steel, Oil and Gas, Power and Infrastructure. These include local supply chain management, customs clearance, inland transportation, site management including civil foundation, electrical cabling and Erection & Commissioning. Within a span of over 16 years of its existence, the division has developed very strong and robust relationships with several state of the art technology leaders and equipment manufacturers abroad. Some of its clients are SAIL, IOC, HPCL, BPCL, NTPC. The division exceeded its order booking targets, and contributed well to the profit of the company. Orders mainly came from the Oil and Gas, Fire Safety, Steel and Metallurgy sectors. With continued good prospects from these sectors along with latest initiatives by the Government on Smart City and infrastructure development, the division expects to continue its good performance
EMPIRE VENDING
(GRABBIT+)
Grabbit+ is today respected nationwide as the pioneer and leader of Vending in India and has vending machines installed across all major metro cities of India. Currently, this division has its machines in more than 380 locations, serving approximately half million happy users. Grabbit+ provides a variety of vending machines to suit different requirements of its customers such as snacks, beverages, perishable food products, stationery etc. Its machines work 24/7 and are fully automated. It maintains very high standards of client care services through its 24X7 helpline, What’s App and email- thus ensuring each machine is in perfect working condition. As a part of its client servicing initiative, it has created a Quick Response Team (QRT) with the objective to attend any complaints within 4 working hours. Grabbit+ is associated with almost all the top FMCG brands like ITC, Parle, CavinKare, Schmitten, Tranquini, RedBull etc. for the placement and branding of their products through its vending machines. In the year under review, it has added many reputed clients like P&G, TIAA, Bajaj, Forbes Marshall etc. by installing vending machines in their facilities. This year, Grabbit+ plans to expand its operations to new cities such as Ahmedabad and Kolkata, and is expected to grow well.
EMPIRE FOODS
The Empire Foods division imports various types of frozen food from across the globe, and sells to leading hotels, restaurants and caterers in the country. This division has performed well during the year under review, and has maintained its market leadership position. With 11 Branch Offices, it distributes throughout India and has further extended its reach to Tier 2 and Tier 3 cities. It has also added more products and is now focusing on adding indigenously developed food products. This year, the division is also working towards the export of Indian frozen food to further boost its revenue. It is growing rapidly and is already a major contributor to the company’s profitability
EMPIRE REAL ESTATE
This division manages Empire Industries Limited’s owned properties comprising 10 lakh sq.ft. of Commercial and IT space. It boasts of an excellent clientele such as TCS, ICICI, CNBC TV 18 and others. It has done very well this year with good occupancies. Its IT park at Vikhroli comprises of 2 buildings-Plaza 1 and Plaza 2. Plaza 1 is currently 86% occupied and Plaza 2 is currently 93% occupied. The huge Empire Complex property at Lower Parel is 100% occupied.
EMPIRE INDUSTRIAL
CENTRUM
This division is developing an integrated flatted industrial township at Ambernath on its 35 acre plot of land. The project commenced in the year 2014-2015 and has got all necessary approvals. Currently, 7 buildings are under construction. These include 3 industrial and 4 residential buildings.
The TEBC division builds and manages flexible and customised fully furnished offices and provides complete business support services and meeting and conference room facilities that enable its clients to run their businesses without incurring massive start-up costs and over-head expenses. Based on the core concept of providing the ‘best-in-class’ service, it provides a customised mix of products and services that deliver significant and measurable returns to its clients. Its services are world class and designed to meet the needs of each client, whether big or small, local or international. The various Products and Services that this division offers are Conference and Meeting Rooms, Video Conferencing, Business Lounges, Hot Desking, Executive Memberships, Day Offices and others. The current occupancy of TEBC is at 100%, the best in the industry
SEGMENT-WISE OR
PRODUCT-WISE PERFORMANCE
The Company is
engaged in the following activities:
(1) Manufacture of Amber Glass Bottles for the Pharmaceutical Industry.
(2) Representing a number of foreign manufacturers of Precision Machine Tools, Measuring Instruments, Testing Machines, designing and marketing of Industrial Equipment.
(3) Imports Frozen & Chilled Foods from around the Globe and distribute it to leading chains of Five / Four Star Hotels and leading Restaurants.
(4) Provides office space on Leave & License basis to multinational companies and banks.
(5) Developing residential, commercial and industrial galas on the land admeasuring to 35 Acres at Ambernath with the consent of MIDC.
(6) Provides flexible and customizable work space solutions to clients to run their business without increasing massive start-up costs and over-head expenses.
MANAGEMENT DISCUSSION AND ANALYSIS
(a) Industry Structure the Development the Vitrum Glass Division is manufacturing Amber Glass Bottles of international quality and standard for the Pharmaceutical Industry by using its production capacity fully. The division carries out R&D activities regularly in various manufacturing operations with the objective of improving quality, reducing energy consumption and improving the overall efficiency/ productivity. The Division has developed 15 new
Outlook
Overall outlook for the Company’s various activities is satisfactory. The Division-wise outlook and details are given in the Directors’ Report.
UNSECURED LOAN:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Fixed Deposits |
311.789 |
268.507 |
|
SHORT TERM
BORROWINGS |
|
|
|
Fixed Deposits |
204.705 |
190.478 |
|
Fixed Deposits from Directors |
25.000 |
169.600 |
|
Inter-corporate Deposits from related parties |
0.000 |
145.807 |
|
Inter-corporate Deposits from others |
49.290 |
23.600 |
|
Buyer’s Line of Credit |
188.921 |
0.000 |
|
Total |
779.705 |
797.992 |
STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30TH
SEPTEMBER 2017
(INR In Million)
|
Particulars |
Quarter ended |
Half year ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
||
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
585.200 |
644.000 |
1229.200 |
|
Other Operating Income |
318.800 |
384.900 |
703.700 |
|
Total
Income from Operations |
904.000 |
1028.900 |
1932.900 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
98.600 |
114.600 |
213.200 |
|
Purchase of Stock in Trade |
197.500 |
260.100 |
457.600 |
|
Changes in inventories of finished goods and
work-in-progress |
(12.800) |
4.000 |
(8.800) |
|
Employee benefits expense |
188.600 |
188.100 |
376.700 |
|
Depreciation and Amortization expenses |
29.500 |
42.400 |
71.900 |
|
Other Expenditure |
258.300 |
287.800 |
546.100 |
|
Total
Expenses |
759.700 |
897.000 |
1656.700 |
|
Profit/(Loss) from Operations before Other Income, Finance
Costs, & Exceptional items |
144.300 |
131.900 |
276.200 |
|
Other Income |
13.800 |
29.200 |
43.000 |
|
Profit/(Loss) from Ordinary Activities before Finance
Costs & Exceptional items |
158.100 |
161.100 |
319.200 |
|
Less : Finance Costs (net) |
35.300 |
32.700 |
68.000 |
|
Profit / (Loss) from ordinary activities before
Exceptional items |
122.800 |
128.400 |
251.200 |
|
Exceptional items |
-- |
-- |
-- |
|
Profit / (Loss) before Tax |
122.800 |
121.500 |
244.300 |
|
Tax Expense |
32.500 |
32.500 |
65.000 |
|
Profit
/ (Loss) after Tax |
90.300 |
89.000 |
179.300 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
60.000 |
60.000 |
60.000 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings per Share (EPS) - INR |
15.05 |
14.83 |
29.88 |
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(INR In Million)
|
Particulars |
Quarter
ended |
Half
Year Ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
||
|
1. Segment
Revenue |
|
|
|
|
Manufacturing
|
3308 |
3180 |
6488 |
|
Trading
and Indenting |
3580 |
4886 |
8466 |
|
Others
|
2208 |
2493 |
4701 |
|
Total segment
revenue |
9096 |
10559 |
19655 |
|
Less: Inter –
segment revenue |
|
|
|
|
Total income
from operations (net sales) |
9096 |
10559 |
19655 |
|
|
|
|
|
|
2. Segment
Results |
|
|
|
|
Profit/ (loss)
before tax and interest |
|
|
|
|
Manufacturing
|
350 |
331 |
681 |
|
Trading
and Indenting |
127 |
(4) |
123 |
|
Others
|
1104 |
1191 |
2295 |
|
Total segment
results |
1581 |
1518 |
3099 |
|
(Add)/Less:
Finance Costs |
271 |
327 |
598 |
|
Other
un-allocable expenditure net off un-allocable other operating income |
82 |
(24) |
58 |
|
Total Profit
Before Tax |
1228 |
1215 |
2443 |
|
|
|
|
|
|
3. Capital
Employed |
|
|
|
|
(Segment Assets –
Segment Liabilities) |
|
|
|
|
Manufacturing
|
4913 |
5012 |
9925 |
|
Trading
and Indenting |
6504 |
5817 |
12321 |
|
Others
|
6851 |
8314 |
15165 |
|
Total
Capital Employed |
18268 |
19143 |
37411 |
|
Add
: Unallocable Assets Less Liabilities |
|
|
|
|
|
|
|
|
|
Total
Capital Employed In the Company |
18268 |
19143 |
37411 |
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES
INR In Million
|
SOURCES OF FUNDS |
|
|
30.09.2017 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
60.000 |
|
(b) Reserves & Surplus |
|
|
1766.806 |
|
(c) Pending Call Money |
|
|
0.000 |
|
Sub-total Shareholders’ |
|
|
1826.806 |
|
|
|
|
|
|
(2) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
737.539 |
|
(b) Deferred tax liabilities (Net) |
|
|
73.456 |
|
(c) Other long term liabilities |
|
|
1471.133 |
|
(d) long-term provisions |
|
|
112.772 |
|
Sub-total of
Non-Current liabilities |
|
|
2394.900 |
|
|
|
|
|
|
(3)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
600.025 |
|
(b) Trade
payables |
|
|
367.074 |
|
(c) Other
current liabilities |
|
|
101.467 |
|
(d) Short-term
provisions |
|
|
273.220 |
|
Sub-total of Current liabilities |
|
|
1341.786 |
|
|
|
|
|
|
TOTAL |
|
|
5563.492 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
2147.602 |
|
(b)
Non-Current investments |
|
|
0.000 |
|
(c) Deferred
tax assets (net) |
|
|
33.254 |
|
(d) Long
term loans and advances |
|
|
0.000 |
|
(e) Other
non-current assets |
|
|
104.790 |
|
Sub-total of
Non-Current Assets |
|
|
2285.646 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
1381.757 |
|
(c) Trade
receivables |
|
|
699.938 |
|
(d) Cash
and cash equivalents |
|
|
958.183 |
|
(e)
Short-term loans and advances |
|
|
85.291 |
|
(f) Other
current assets |
|
|
152.677 |
|
Sub-total of
Current Assets |
|
|
3277.846 |
|
|
|
|
|
|
TOTAL |
|
|
5563.498 |
NOTES:
The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors at its Meeting held on 31st October, 2017.
2. The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEB1 (Listing and Other Disclosure Requirements) Regulations, 2015.
3. The previous year's figures have been regrouped/reclassified based on the impact of Indian Accounting Standards which is operational w.e.f. Quarter 1 of Financial Year 2017-2018.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G75239814 |
100150482 |
HDFC BANK LIMITED |
29/12/2017 |
- |
- |
1450000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER APAREL WMUMBAIMH400013IN |
|
2 |
G70224985 |
100140135 |
BANK OF INDIA |
08/12/2017 |
- |
- |
337500000.0 |
MUMBAI MID CORPORATE BRANCH, BANK OF INDIA BLDG.MEZZANINE FLOOR, 70/80 M G ROAD FORTMUMBAIMH400026IN |
|
3 |
G61451357 |
100133337 |
HDFC BANK LIMITED |
07/11/2017 |
- |
- |
737000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER APAREL WMUMBAIMH400013IN |
|
4 |
G61064085 |
100132645 |
HDFC BANK LIMITED |
03/11/2017 |
- |
- |
565000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER APAREL WMUMBAIMH400013IN |
|
5 |
G60858107 |
100132353 |
HDFC BANK LIMITED |
26/10/2017 |
- |
- |
565000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER APAREL WMUMBAIMH400013IN |
|
6 |
G60857976 |
100132354 |
HDFC BANK LIMITED |
26/10/2017 |
- |
- |
563000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER APAREL WMUMBAIMH400013IN |
|
7 |
G60670536 |
100132091 |
HDFC BANK LIMITED |
04/10/2017 |
- |
- |
565000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER APAREL WMUMBAIMH400013IN |
|
8 |
G32918716 |
100071048 |
HDFC BANK LIMITED |
29/12/2016 |
- |
- |
665000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
9 |
G29792660 |
100065895 |
HDFC BANK LIMITED |
28/11/2016 |
- |
- |
655000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
10 |
G24293086 |
100061895 |
HDFC BANK LIMITED |
01/11/2016 |
- |
- |
1856000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
FIXED ASSETS:
TANGIBLE ASSETS
- Freehold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Furnaces
- Vehicles
- Furniture and Fixtures
- Office Equipments
- Molds and Castings
- Total Tangible Assets
INTANGIBLE ASSETS
- Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 : |
PRI |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NKTS |
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.