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%20-%20490634%2009-Feb-2018_files/image015.jpg){kind=small}
%20-%20490634%2009-Feb-2018_files/image016.jpg)
%20-%20490634%2009-Feb-2018_files/image018.gif)
MIRA INFORM REPORT
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Report No. : |
490634 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTHAN ENGINEERING AND INDUSTRIES LIMITED [w.e.f. 08.06.1999] HINDUSTAN CHEMICAL COMPANY (A UNIT OF HINDUSTHAN ENGINEERING AND
INDUSTRIES LIMITED) |
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|
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Formerly Known
As : |
MALANPUR STEEL LIMITED |
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Registered
Office : |
Mody Building, 27, Sir R N Mukherjee Road, Kolkata-700001, West Bengal |
|
Tel. No.: |
91-33-22480166 (3 Lines) |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2016 |
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|
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Date of
Incorporation : |
12.01.1998 |
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|
|
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Com. Reg. No.: |
21-086303 |
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|
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Capital
Investment / Paid-up Capital : |
INR 150.008
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93000WB1998PLC086303 |
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|
|
|
IEC No.: |
Not Divulged |
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|
|
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GST No.: |
19AAACH8505Q1Z1 |
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|
|
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TIN No.: |
19200457033 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACH8505Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Selling of:
· Chemicals - Sodium Cyanide, Ammonium Sulphate, Diphenyl Guanidine · Jute - Jute Goods · Engineering Castings - Points & Crossings, Railway Rolling Stock, Steel Wires, etc. [Registered Activity] |
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|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 27143800 |
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|
|
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Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1998 and it is having good track records. It is a diversified manufacturing company, with its presence in three distinct business verticals- Engineering, Chemicals and Jute. As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31-03-2017 but the documents related to the financial for the year 2017 are not available from any sources. For the financial year 2016, the company has increased its revenue from operation as compared to previous year and maintained minimal profitability margin of 0.78%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Rating also reflects from its diversified revenue base, moreover the company has long experience in each of the three businesses along with it ranks among the leading domestic railway wagon manufacturers as well as domestic producer of cyanide and cyanide based derivatives. Further, the company has established track records business operations and decent improvement in the revenue as well as profitability profile during the year. However, rating strength is partially offset by demand for jute products remains largely dependent on Government’s policies, for sodium cyanide is used in the gold mining industry hence sodium cyanide price movement closely follows the global gold price movement. Trade relations are reported as fair. Business is active. Payments terms are seem to be regular. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
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 |
ICRA |
|
Rating |
Long Term Rating=BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
22.12.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating=A2+ |
|
Rating Explanation |
Moderate degree of safety and low credit risk |
|
Date |
22.12.2017 |
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 09.02.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-33-22480166/ 11-23310001/ 22-22029430]
LOCATIONS
|
Registered/ Head Office : |
Mody Building, 27, Sir R N Mukherjee Road, Kolkata-700001, West Bengal, India |
|
Tel. No.: |
91-33-22480166 (3 Lines) |
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Fax No.: |
91-33-22481922 |
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E-Mail : |
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Website : |
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Corporate & Co-ordination
Office
: |
"Kanchanjunga" (7th Floor) 18, Barakhamba Road,
New Delhi-110 001, India |
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Tel. No.: |
91-11-23310001 to 5 |
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Fax No.: |
91-11-23314467 |
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E-Mail : |
|
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|
|
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Branch Office : |
65, Free Press House 215, Free Press Journal Road, Nariman
Point, Mumbai-400021, Maharashtra, India |
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Tel. No.: |
91-22-61510999/ 22027947/ 22029430 |
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Fax No.: |
91-22-22029430 |
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E-Mail : |
|
|
|
|
|
Factories : |
·
Tiljala
Plant 38 Tiljala Road, Kolkata-700 039, West Bengal, India ·
Bamunari
Plant National Highway No 2, Bamunari-712 205, Dist: Hoogly, West Bengal, India ·
Santragachi
Plant P.O.: Jagacha, Dist: Howrah, West Bengal, India ·
Chemicals
Plant GIDC Industrial Estate, Olpadâ-394 540, Dist: Surat, Gujarat, India ·
Jute
Plant 1, G.T. Road, Champdany–712 222, Post: Baidyabati, Dist: Hooghly, West Bengal, India Tel No.: 91-33-26323121 / 1521 / 0864 / 7679 / 7439 Fax No: 91-33-26321062 E-mail: djcmill@heilindia.com |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Satish Kapur |
|
Designation : |
Director |
|
Address : |
4, Jamadar Khan Lane, Kolkata-700019, West Bengal, India |
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Date of Birth/Age : |
27.01.1945 |
|
Qualification : |
B Com |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
00051163 |
|
|
|
|
Name : |
Mr. Rajendra Prasad Mody |
|
Designation : |
Director |
|
Address : |
14b Judges Court Road, Kolkata-700027, West Bengal, India |
|
Date of Birth/Age : |
18.06.1937 |
|
Qualification : |
B Com |
|
Date of Appointment : |
17.03.2000 |
|
PAN No.: |
AEAPM3610A |
|
DIN No.: |
00140503 |
|
|
|
|
Name : |
Mr. Biswajit Choudhuri |
|
Designation : |
Director |
|
Address : |
Rajani Kusumalay, Nandalal Jiu Road Off 119 Sarat Bose Road, Kolkata- 700026, West Bengal, India |
|
Date of Birth/Age : |
30.04.1942 |
|
Qualification : |
B.Tech(Hons), F I CWA, HonFIIB&F, CEng, FIET(Lon), Fiiprode |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
00149018 |
|
|
|
|
Name : |
Mr. Vikram Aditya Mody |
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Designation : |
Additional Director |
|
Address : |
14b Judges Court Road, Kolkata-700027, West Bengal, India |
|
Date of Appointment : |
06.10.2017 |
|
DIN No.: |
00193192 |
|
|
|
|
Name : |
Mr. Dileep Krishna Rohatgi |
|
Designation : |
Director |
|
Address : |
45, Armenian Street, Kolkata-700001, West Bengal, India |
|
Date of Birth/Age : |
03.06.1941 |
|
Qualification : |
B.Sc. (Physics Hons.), FIWM (UK) |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
00773194 |
|
|
|
|
Name : |
Mr. Ranjan Ghosh |
|
Designation : |
Director |
|
Address : |
Ca-56, Sector-I, 2nd Avenue Salt Lake, Kolkata-700064, West Bengal, India |
|
Date of Birth/Age : |
16.10.1944 |
|
Qualification : |
B.Tech (Hons.) from IIT Kharagpur, MS from Stanford University (USA) MS & DSc. From Columbia University (USA) |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
03094522 |
|
|
|
|
Name : |
Ms. Archana Agarwal |
|
Designation : |
Director |
|
Address : |
45, Bhairav Dutta Lane 3rd Floor, Salkia, Howrah-711106, West Bengal, India |
|
Date of Birth/Age : |
12.04.1988 |
|
Qualification : |
B Com |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07144282 |
|
|
|
|
Name : |
Mr. Anil Kumar Damari Singh |
|
Designation : |
Wholetime Director |
|
Address : |
D-1, Hindusthan Chemicals Housing Colony Masma, Olpad, Surat-394540, West Bengal, India |
|
Date of Appointment : |
16.04.2015 |
|
PAN No.: |
AEDPS2671C |
|
DIN No.: |
07160198 |
KEY EXECUTIVES
|
Name : |
Mr. Pradip Kumar Agarwal |
|
Designation : |
Company Secretary |
|
Address : |
Prasad Exotica Block-6 Flat No-10a 71/3 Canal Circular
Road, Kolkata-700054, West Bengal, India |
|
Date of Appointment : |
13.08.2015 |
|
PAN No.: |
ACXPA6652R |
|
|
|
|
Name : |
Mr. Jayant Kumar Singhania |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
2c, N. S. Road, Shantinagar Bld No-2a, Flat No-32, Liluah,
Howrah-711204, West Bengal, India |
|
Date of Birth/Age : |
29.10.1976 |
|
Qualification : |
B. Com, C.A. |
|
Date of Appointment : |
25.09.2014 |
|
PAN No.: |
AKOPS4199Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
Note: SHAREHOLDING DETAILS FILE ATTACHED
AS ON: 23.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
81.98 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Indian |
5.04 |
|
Public/Other than promoters – Individual/ Hindu Undivided
Family – Non-resident Indian (NRI) |
0.01 |
|
Public/Other than promoters – Government – State
Government |
0.20 |
|
Public/Other than promoters – Insurance companies |
4.15 |
|
Public/Other than promoters - Body Corporate |
8.43 |
|
Public/Other than promoters – Others [Equity] |
0.19 |
|
|
|
|
Total |
100.00 |
%20-%20490634%2009-Feb-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of:
· Chemicals - Sodium Cyanide, Ammonium Sulphate, Diphenyl Guanidine · Jute - Jute Goods · Engineering Castings - Points & Crossings, Railway Rolling Stock, Steel Wires, etc. [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 : |
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||||||||
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Selling : |
Not Divulged |
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||||||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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|
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Customers : |
· NTPC · Sail · Aditya Birla · Indian Railway · Concor |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Punjab National Bank Agmo: New Market, 9, Lindsay Street, Kolkata - 700087, West Bengal, India · DBS Bank Limited · State Bank of India · ICICI Bank Limited |
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Facilities : |
|
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|
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Auditors : |
|
|
Name : |
A K Gutgutia and Company Chartered Accountants |
|
Address : |
135A, B.R.B. Basu Road, Kolkata, West Bengal, India |
|
PAN No.: |
AADFA8683N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and their
relatives : |
· Adarsh Commercial Co Limited, India [L67120WB1978PLC031438] · Anuradha Investments Limited, India [L26922WB1974PLC029494] · Associated General Trading Society Limited, India [L65993WB1977PLC031209] · Carbo Industrial Holdings Limited, India [L65993DL1981PLC300851] · Foster Engineering Industries Limited, India [L51103DL1980PLC299384] · Gwalior Securities & Traders Limited, India [L67120WB1980PLC032790] · Hindusthan Consultancy and Services Limited, India [U74140DL1980PLC010952] · Hindusthan Urban Infrastructure Limited, India [L31300DL1959PLC003141] · Hindusthan Speciality Chemicals Limited, India [U29120DL2003PLC242852] · Intercontinental Trading and Investment Company Limited, India [U65999DL1979PLC009470] · Jai Commercial Company Limited, India [U72900DL1978PLC008832] · Magnum Traders Limited, India [L67120WB1980PLC032928] · Mahanagar Commercial Co Limited, India [L01409WB1981PLC033609] · Mody Investment & Mfg Company Private Limited, India [U65993WB1968PTC030627] · Olympic General Trading Limited., India [L67120WB1975PLC030101] · Paramount Enterprises Limited, India [U51909DL1982PLC013410] · Promain Limited, India [U04503DL1965PLC004503] · Rohini Traders & Exporters Limited, India [L51226WB1981PLC033905] · Senilis Trading Syndicate Limited, India [L67120WB1980PLC032574] · Simco Business Limited, India [L51504WB1982PLC035404] |
|
|
|
|
Associates Companies : |
· Superb Finance Private Limited, India [U70200WB1996PTC076845] · Unique Stocks Private Limited, India [U70200WB1996PTC076844] · Kanchan Stocks Private Limited, India [U70200WB1996PTC076846] · Support Holding Private Limited, India [U70200WB1996PTC076843] |
|
|
|
|
Subsidiary Company
: |
Hindusthan Vidyut Corporation Limited, India [U74899WB1995PLC205541] |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
|
5000000 |
Preference Shares |
INR 10/- each |
INR 50.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000782 |
Equity Shares |
INR 10/- each |
INR 150.008
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
150.008 |
150.008 |
150.008 |
|
(b) Reserves and Surplus |
9350.322 |
9299.074 |
9129.097 |
|
(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) |
9500.330 |
9449.082 |
9279.105 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
27.135 |
90.654 |
239.056 |
|
(b) Deferred tax liabilities (Net) |
243.513 |
284.611 |
245.125 |
|
(c) Other long-term
liabilities |
23.105 |
23.105 |
23.105 |
|
(d) long-term
provisions |
561.690 |
434.841 |
406.003 |
|
Total Non-current
Liabilities (3) |
855.443 |
833.211 |
913.289 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
320.655 |
354.909 |
188.117 |
|
(b) Trade
payables |
853.534 |
812.553 |
524.540 |
|
(c) Other
current liabilities |
481.674 |
409.225 |
1276.271 |
|
(d) Short-term
provisions |
82.132 |
148.264 |
160.487 |
|
Total Current
Liabilities (4) |
1737.995 |
1724.951 |
2149.415 |
|
|
|
|
|
|
TOTAL |
12093.768 |
12007.244 |
12341.809 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4173.000 |
4172.174 |
4427.912 |
|
(ii)
Intangible Assets |
140.192 |
141.536 |
143.927 |
|
(iii) Tangible assets
capital work-in-progress |
249.550 |
313.660 |
271.883 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
267.445 |
267.445 |
14.063 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1459.099 |
1334.887 |
1252.327 |
|
(e) Other
Non-current assets |
759.222 |
751.755 |
749.860 |
|
Total Non-Current
Assets |
7048.508 |
6981.457 |
6859.972 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
159.015 |
153.112 |
473.499 |
|
(b)
Inventories |
826.879 |
1302.507 |
1168.088 |
|
(c) Trade
receivables |
1871.037 |
1274.916 |
1299.316 |
|
(d) Cash and
bank balances |
1416.166 |
1533.328 |
1998.186 |
|
(e)
Short-term loans and advances |
596.367 |
618.414 |
439.746 |
|
(f) Other
current assets |
175.796 |
143.510 |
103.002 |
|
Total
Current Assets |
5045.260 |
5025.787 |
5481.837 |
|
|
|
|
|
|
TOTAL |
12093.768 |
12007.244 |
12341.809 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
6542.669 |
6503.922 |
6477.745 |
|
|
Other Income |
249.752 |
267.441 |
310.652 |
|
|
TOTAL |
6792.421 |
6771.363 |
6788.397 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3745.059 |
3291.692 |
2545.852 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.222 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
107.494 |
(17.882) |
66.329 |
|
|
Employee benefit expense |
1318.427 |
1107.132 |
1118.215 |
|
|
Other expenses |
1296.584 |
1634.037 |
1753.888 |
|
|
TOTAL |
6467.564 |
6014.979 |
5484.506 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
324.857 |
756.384 |
1303.891 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
26.566 |
6.988 |
21.414 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
298.291 |
749.396 |
1282.477 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
286.741 |
285.493 |
232.514 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
11.550 |
463.903 |
1049.963 |
|
|
|
|
|
|
|
Less |
TAX |
(39.698) |
142.371 |
358.001 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
51.248 |
321.532 |
691.962 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export (F.O.B. Value) |
570.912 |
1262.900 |
NA |
|
|
TOTAL EARNINGS |
570.912 |
1262.900 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
31.274 |
292.186 |
201.656 |
|
|
Components and spare
parts |
1.664 |
17.026 |
12.408 |
|
|
Capital Goods |
0.993 |
71.456 |
67.514 |
|
|
Others |
0.079 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
34.010 |
380.668 |
281.578 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.42 |
21.43 |
46.13 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
6.378 |
3.189 |
14.001 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
98.212 |
(146.137) |
1483.534 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
77.958 |
(283.324) |
1125.815 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
104.38 |
71.55 |
73.21 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.50 |
5.10 |
4.99 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
83.19 |
90.10 |
75.20 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.39 |
0.58 |
1.12 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.07 |
0.16 |
0.27 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.15 |
0.15 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.04 |
0.05 |
0.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.18 |
0.18 |
0.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.48 |
0.49 |
0.52 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
12.23 |
108.24 |
60.89 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.78 |
4.94 |
10.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.42 |
2.68 |
5.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.54 |
3.40 |
7.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.90 |
2.91 |
2.55 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.43 |
2.16 |
2.01 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.79 |
0.79 |
0.75 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.36 |
2.99 |
2.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.90 |
2.91 |
2.55 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
150.008 |
150.008 |
150.008 |
|
Reserves & Surplus |
9129.097 |
9299.074 |
9350.322 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
9279.105 |
9449.082 |
9500.330 |
|
|
|
|
|
|
long-term borrowings |
239.056 |
90.654 |
27.135 |
|
Short term borrowings |
188.117 |
354.909 |
320.655 |
|
Current Maturities of Long
term debt |
14.001 |
3.189 |
6.378 |
|
Total
borrowings |
441.174 |
448.752 |
354.168 |
|
Debt/Equity
ratio |
0.048 |
0.047 |
0.037 |
%20-%20490634%2009-Feb-2018_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
6477.745 |
6503.922 |
6542.669 |
|
|
|
0.404 |
0.596 |
%20-%20490634%2009-Feb-2018_files/image024.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
6477.745 |
6503.922 |
6542.669 |
|
Profit |
691.962 |
321.532 |
51.248 |
|
|
10.68% |
4.94% |
0.78% |
%20-%20490634%2009-Feb-2018_files/image026.gif)
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
150.008 |
150.008 |
|
(b) Reserves and Surplus |
|
9366.452 |
9311.959 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
9516.460 |
9461.967 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
27.135 |
90.654 |
|
(b) Deferred tax liabilities (Net) |
|
243.513 |
284.611 |
|
(c) Other long-term
liabilities |
|
23.105 |
23.105 |
|
(d) long-term
provisions |
|
561.690 |
434.841 |
|
Total Non-current
Liabilities (3) |
|
855.443 |
833.211 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
320.655 |
354.909 |
|
(b) Trade
payables |
|
853.534 |
812.553 |
|
(c) Other
current liabilities |
|
508.613 |
436.164 |
|
(d) Short-term
provisions |
|
82.132 |
148.264 |
|
Total Current
Liabilities (4) |
|
1764.934 |
1751.890 |
|
|
|
|
|
|
TOTAL |
|
12136.837 |
12047.068 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4173.027 |
4172.207 |
|
(ii)
Intangible Assets |
|
140.192 |
141.536 |
|
(iii) Tangible assets
capital work-in-progress |
|
367.909 |
431.958 |
|
(iv)
Intangible assets under development |
|
249.014 |
249.014 |
|
(b) Non-current Investments |
|
20.546 |
17.301 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
1461.599 |
1337.387 |
|
(e) Other
Non-current assets |
|
759.222 |
751.755 |
|
Total Non-Current
Assets |
|
7171.509 |
7101.158 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
159.015 |
153.112 |
|
(b)
Inventories |
|
826.879 |
1302.507 |
|
(c) Trade
receivables |
|
1871.037 |
1274.916 |
|
(d) Cash and
bank balances |
|
1416.334 |
1533.542 |
|
(e)
Short-term loans and advances |
|
516.267 |
538.323 |
|
(f) Other
current assets |
|
175.796 |
143.510 |
|
Total
Current Assets |
|
4965.328 |
4945.910 |
|
|
|
|
|
|
TOTAL |
|
12136.837 |
12047.068 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
6542.669 |
6503.922 |
|
|
Other Income |
|
249.752 |
267.441 |
|
|
TOTAL |
|
6792.421 |
6771.363 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
3745.059 |
3291.692 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
107.494 |
(17.882) |
|
|
Employee benefit expense |
|
1318.427 |
1107.132 |
|
|
CSR expenditure |
|
17.805 |
21.710 |
|
|
Other expenses |
|
1278.779 |
1612.327 |
|
|
TOTAL |
|
6467.564 |
6014.979 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
324.857 |
756.384 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
26.566 |
6.988 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
298.291 |
749.396 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
286.741 |
285.493 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
11.550 |
463.903 |
|
|
|
|
|
|
|
Less |
TAX |
|
(39.698) |
142.371 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
51.248 |
321.532 |
|
|
|
|
|
|
|
|
SHARE
OF PROFIT (LOSS) OF ASSOCIATES |
|
3.245 |
12.885 |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
54.493 |
334.417 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
3.63 |
22.29 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last 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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G72276421 |
100143531 |
ICICI BANK LIMITED |
26/12/2017 |
- |
- |
250000000.0 |
ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN |
|
2 |
G72685753 |
100144390 |
State Bank of India |
04/12/2017 |
- |
- |
600000.0 |
Chandernagore BranchBagbazar, Chandernagore, District HooghlyChandernagoreWB712136IN |
|
3 |
G57918252 |
100129128 |
State Bank of India |
06/10/2017 |
- |
- |
4000000.0 |
Chandernagore BranchBagbazar, Chandernagore, District HooghlyChandernagoreWB712136IN |
|
4 |
G58710674 |
100129796 |
State Bank of India |
06/10/2017 |
- |
- |
1800000.0 |
Chandernagore BranchBagbazar, Chandernagore, District HooghlyChandernagoreWB712136IN |
|
5 |
G53134011 |
100121990 |
State Bank of India |
18/08/2017 |
- |
- |
500000.0 |
Chandernagore BranchBagbazar, Chandernagore, District HooghlyChandernagoreWB712136IN |
|
6 |
G51633493 |
100118756 |
DBS BANK LTD. |
10/07/2017 |
- |
- |
330000000.0 |
4A, NANDALAL BASU SARANIKOLKATAWB700071IN |
|
7 |
G46723573 |
100105095 |
HDFC BANK LIMITED |
20/05/2017 |
- |
- |
200000000.0 |
HDFC Bank HouseSenapati Bapat Marg Lower Parel (w)MumbaiMH400013IN |
|
8 |
C33373382 |
10530877 |
Standard Chartered Bank |
13/11/2014 |
- |
- |
525000000.0 |
19, N.S. ROADKOLKATAWB700025IN |
|
9 |
C20681383 |
10520010 |
The Hongkong and Shanghai Banking Corporation Limited |
02/09/2014 |
- |
- |
320700000.0 |
Hongkong House31 B B D BaghKolkataWB700001IN |
|
10 |
A01506641 |
80004842 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
26/03/1997 |
26/05/2006 |
- |
1675000.0 |
IDBI TOWERCUFFE PARADEMUMBAIMH400005IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Working capital loans from banks |
11.189 |
21.823 |
|
Other loans and advances, others |
15.946 |
19.136 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from others |
10.055 |
10.055 |
|
Working capital loans from banks |
13.085 |
0.000 |
|
|
|
|
|
Total |
50.275 |
51.014 |
OPERATIONAL PERFORMANCE:
The overall performance of the Company’s Engineering Unit during the year considering the difficult operating constraints was satisfactory. The demand covering requirements of the Indian Railway’s was drastically reduced resulting in substantial under utilization of capacity and consequently prices went to uneconomical level. The unit, however, survived huge operating losses due to better control of cost & operating efficiency.
Hindusthan Chemicals Company, the Company's Chemical Division at Olpad, Dist. Surat, (Gujarat) has achieved lower sales and lower operating margins as compared to last year which was due to depressed market conditions & lower production due to additional requirement of meeting new environmental standards. The work force also went on an illegal strike demanding higher remuneration.
Dalhousie Jute Company, the Company’s Jute Division at Champdany, West Bengal achieved higher sales then last year on account of increased demand and better realisation value leading to expansion in operating margin.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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 64.16 |
|
UK Pound |
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.