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MIRA INFORM REPORT
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Report No. : |
491199 |
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Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
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Name : |
RATNAMANI METALS AND TUBES LIMITED [w.e.f. 01.07.1989] |
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Formerly known
as: |
RATNAMANI METALS AND TUBES PRIVATE LIMITED |
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Registered
Office : |
17, Rajmugat Society, Naranpura Char Rasta, Ankur Road, Naranpura,
Ahmedabad – 380013, Gujarat |
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Tel. No.: |
91-79-27415501 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
15.09.1983 |
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Com. Reg. No.: |
04-006460 |
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Capital
Investment / Paid-up Capital : |
INR 93.456 Million |
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CIN No.: [Company Identification
No.] |
L70109GJ1983PLC006460 |
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IEC No.: |
0888007264 |
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GSTIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCR1742E |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
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Line of Business
: |
The Company is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes and generation of power by windmills. [Registered Activity] |
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No. of Employees
: |
1940 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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Status : |
Excellent |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated on 15th September 1983. It is engaged in manufacturing of stainless steel pipes and tubes and carbon steel pipes. For the financial year 2017, the company has reported dip in its revenue by 17.82% as compared to the previous year but it has managed maintain a fair profit margin of 10.22%. The company has distributed an EPS of INR 30.88 as compared to its original face value of INR 02. Return on equity and Return on assets stands Positive. Rating takes into consideration the robust financial profile of the company marked by healthy networth base along with strong debt coverage indicators due to debt free balance sheet profile. The company has its share price trading at around INR 985.65 on BSE as on 08th December, 2017. The rating continues to reflect the company’s strong business risk profile supported by market leadership in the stainless steel tubes and pipes segment and its diversified revenue. Rating also derives strength from company’s established track record of business operations along with extensive experience of its promoters. However, these rating strengths are partially offset by company's working capital-intensive operations and susceptibility of operating performance to slowdown in end-user industries. Payments seems to be slow but correct. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term bank facilities : AA |
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Rating Explanation |
High degree of safety and very low credit risk. |
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Date |
22.02.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term bank facilities : A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
22.02.2017 |
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 08.02.2018.
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
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Name : |
Mr. Rakesh Agarwal |
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Designation : |
Accounts Executive |
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Contact No.: |
91-79-27415501 |
LOCATIONS
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Registered/ Sales Office : |
17, Rajmugat Society, Naranpura Char Rasta, Ankur Road Naranpura,
Ahmedabad – 380013, Gujarat, India |
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Tel. No.: |
91-79-27415501/ 2/ 3/ 4 |
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Fax No.: |
91-79-27480999 |
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E-Mail : |
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Website : |
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Head Office / Factory 1: |
STAINLESS STEEL TUBES AND PIPES DIVISION Survey No. 474, Anjar – Bhachau Road, Village: Bhimasar,
Taluka: Anjar, District: Kutch - 370240, Gujarat, India |
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Tel. No.: |
91-2764-232254/ 232263/ 233766 |
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Fax No.: |
91-2764-234105/ 233098 |
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E-Mail : |
info.sstp@ratnamani.com |
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Website : |
www.ratnamani.com |
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Factory 2: |
SAW PIPE DIVISION Plot
No.3306-3309, GIDC; Chhatral, Taluka – Kalol, District – Mehsana, |
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Tel. No.: |
91-2764-232234/
233919/ 232409 |
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Fax No.: |
91-2764-233859 |
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Email : |
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Factory 3: |
Survey No.474,
Village – Bhimasar, Taluka – Anjar, District–Kutch - 370240, Gujarat, India |
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Tel. No.: |
91-2836-285538/
285539 |
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Fax No.: |
91-2836-285540 |
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Email : |
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Factory 4: |
(Sstp Division), Survey No. 769, Village Road, Ahmedabad Mehsana Highway
Near Chhateal, GIDC, Mehsana - 382715, Gujarat, India |
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Ratnamani Techno Casts Limited (RTCL) : |
Plot No.3310, GIDC Estate Chhatral, Phase IV, Ahmedabad –
Mehsana Highway, P.O. Chhatral, Taluka Kalol, District Gandhinagar – 382729, Gujarat,
India |
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Tel. No.: |
91-2764-233327/ 234488 |
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Fax No.: |
91-2764-233165 |
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E-Mail : |
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Delhi Office : |
Flat No.208, Second Floor, Somdatt Chambers- II, 9 Bhikaji Cama Place, New Delhi - 110 066, India |
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Sales Office 1 :
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516, Ansal
Chamber, II Bhikaji Cama Place, New Delhi – 110066, India |
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Sales Office 2 : |
B-Wing, 2nd
Floor, 55-Gama Devi Road, Near Dharam Palace, Mumbai – 400007, Maharashtra,
India |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Prakash Misrimal Sanghvi |
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Designation : |
Managing Director |
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Address : |
23, Hindu Colony, Opposite Sardar Patel Stadium, Navrangpura, Ahmedabad -380009, Gujarat, India |
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Qualification : |
Matriculation |
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Date of Appointment : |
01.11.2007 |
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DIN No.: |
00006354 |
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Name : |
Mr. Jayantilal Mistrimal Sanghvi |
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Designation : |
Whole-Time Director |
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Address : |
9, Ambalal Park, Opposite ONGC Depot, Sabarmati, Ahmedabad-380005, Gujarat, India |
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Qualification : |
B.Com (FY) |
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Date of Appointment : |
12.06.1989 |
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DIN No.: |
00006178 |
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Name : |
Mr. Shantilal Mishrimal Sanghvi |
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Designation : |
Whole-Time Director |
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Address : |
801, 8th Floor, Shivam Apartment Babulnath Road, Near Babulnath Temple, Mumbai-400007, Maharashtra, India |
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Qualification : |
Under Graduate |
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Date of Appointment : |
01.11.2007 |
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DIN No.: |
00007955 |
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Name : |
Mr. Divyabhash Chandrakant Anjaria |
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Designation : |
Director |
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Address : |
20, Sanskar Bharti Society, Ankur Road, Naranpura Ahmedabad-380013, Gujarat, India |
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Qualification : |
PGDM (Finance) from IIM, Ahmedabad |
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Date of Appointment : |
28.02.1995 |
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DIN No.: |
00008639 |
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Name : |
Dr. Vinodkumar Mahavirprasad Agrawal |
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Designation : |
Director |
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Address : |
B/302, Shilalekh Flat, Shahibaug, Ahmedabad-380004, Gujarat, India |
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Qualification : |
MBBS |
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Experience : |
Renowned doctor in practice since last 42 years |
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Date of Appointment : |
31.03.2001 |
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DIN No.: |
00010558 |
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Name : |
Mr. Pravinchandra Maganlal Mehta |
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Designation : |
Director |
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Address : |
501, Juhu Green, 20 Suvarna Nagar Society, North -South Road, No. 4, JVPD Scheme, Mumbai-400056, Maharashtra, India |
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Qualification : |
B.E. (Mechanical) |
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Date of Appointment : |
09.09.2006 |
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DIN No.: |
00012410 |
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Name : |
Mrs. Nidhi Gaurav Gadhecha |
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Designation : |
Director |
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Address : |
21, Pratima Society, Near Dada Saheb Pagla, Navrangpura, Ahmedabad-380009, Gujarat, India |
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Date of Appointment : |
23.09.2015 |
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DIN No.: |
06847953 |
KEY EXECUTIVES
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Name : |
Mr. Jigar Harshadkumar Shah |
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Designation : |
Company Secretary |
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Address : |
26 A, Chintamani Society, Acher, Sabarmati, Ahmedabad-380005, Gujarat, India |
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Date of Appointment : |
20.08.2015 |
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PAN No.: |
ANEPS2005E |
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Name : |
Mr. Vimal Kumar Katta |
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Designation : |
Chief Financial Officer |
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Address : |
36, Vasant Vihar Twins, B/H Shabritower, Vastrapur, Ahmedabad-380015, Gujarat, India |
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Date of Appointment : |
21.05.2014 |
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PAN No.: |
ACWPK9203B |
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Name : |
Mr. Rakesh Agarwal |
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Designation : |
Accounts Executive |
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Audit Committee
: |
· Mr. Divyabhash C. Anjaria - Chairman · Dr. Vinod M. Agrawal - Member · Mr. Jayanti M. Sanghvi - Member · Mrs. Nidhi G. Gadhecha - Member |
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Nomination and Remuneration
Committee : |
· Mr. Divyabhash C. Anjaria - Chairman · Dr. Vinod M. Agrawal - Member · Mr. Pravinchandra M. Mehta - Member |
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Stakeholders
Relationship Committee : |
· Mr. Divyabhash C. Anjaria - Chairman · Dr. Vinod M. Agrawal - Member · Mr. Jayanti M. Sanghvi - Member |
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Corporate Social
Responsibility Committee : |
· Mr. Pravinchandra M. Mehta - Chairman · Mr. Prakash M. Sanghvi - Member · Mr. Jayanti M. Sanghvi - Member |
SHAREHOLDING PATTERN
AS ON DECEMBER 2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957) As a % |
|
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(A) Promoter & Promoter Group |
28079625 |
60.09 |
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(B) Public |
18648375 |
39.91 |
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Grand Total |
46728000 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
Total Nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR 1957) As a % |
|
|
A1) Indian |
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||
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Individuals/Hindu
undivided Family |
28079625 |
60.09 |
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Prakash M. Sanghvi and
Reshmi Sanghvi |
5426690 |
11.61 |
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Jayanti M. Sanghvi and Shobhnadevi
J. Sanghvi and Prakash M. Sanghvi |
3861195 |
8.26 |
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Mishrimal N. Sanghvi and
Prakash M. Sanghvi |
1759695 |
3.77 |
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Shantilal Mishrimal
Sanghvi and Shashi Shantilal Sanghvi and Prakash M. Sanghvi |
1816995 |
3.89 |
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Reshmidevi P. Sanghvi and
Prakash Mishrimal Sanghvi and Jayantilal Mishrimal Sanghvi |
1563750 |
3.35 |
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Vimla Pavan Sanghvi and
Pavan Mishrimal Sanghvi and Prakash M. Sanghvi |
1424080 |
3.05 |
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Chunilal M. Sanghvi and
Arunaben C. Sanghvi and Prakash M. Sanghvi |
1271010 |
2.72 |
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Manoj P. Sanghvi and
Dimple M. Sanghvi and Jayanti M. Sanghvi |
969495 |
2.07 |
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Nilesh Prakash Sanghvi
and Prakash Mishrimal Sanghvi and Jayanti M. Sanghvi |
934800 |
2.00 |
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Prashant J. Sanghvi and
Sarika Prashant Sanghvi and Prakash M. Sanghvi |
776740 |
1.66 |
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Jigar Prakash Sanghvi and
Prakash Mishrimal Sanghvi and Jayanti M. Sanghvi |
756320 |
1.62 |
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Shantaben Babulal Sanghvi
and Babulal M. Sanghvi and Prakash Mishrimal Sanghvi |
528915 |
1.13 |
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Babulal Mishrimal Sanghvi
(HUF) |
505495 |
1.08 |
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Sanghvi Shantilal
Mishrimal (HUF) |
462165 |
0.99 |
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Shobhnadevi Jayantilal
Sanghvi and Jayantilal Sanghvi and Prakash M Sanghvi |
456415 |
0.98 |
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|
Jayantilal M Sanghvi
(HUF) |
456665 |
0.98 |
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Sanghvi Chunilal
Mishrimal (HUF) |
409000 |
0.88 |
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Chandra Vijay Sanghvi and
Vijay Chunilal Sanghvi and Prakash Mishrimal Sanghvi |
353125 |
0.76 |
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Ravi Pavan Sanghvi and
Pavan Mishrimal Sanghvi and Prakash M. Sanghvi |
580415 |
1.24 |
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Usha M. Sanghvi and
Mahendra C. Sanghvi and Prakash M. Sanghvi |
259830 |
0.56 |
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Shashi Shantilal Sanghvi
and Shantilal Mishrimal Sanghvi and Prakash M. Sanghvi |
838250 |
1.79 |
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Jitendra Babulal Sanghvi
and Babulal M. Sanghvi and Prakash M. Sanghvi |
247160 |
0.53 |
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Dimple Manoj Sanghvi and Manoj
Prakash Sanghvi and Jayanti M. Sanghvi |
212500 |
0.45 |
|
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Yash Shantilal Sanghvi
and Shantilal Mishrimal Sanghvi and Prakash M. Sanghvi |
312000 |
0.67 |
|
|
Sarika Prashant Sanghvi
and Prashant J. Sanghvi and Prakash M. Sanghvi |
175000 |
0.37 |
|
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Pavan Sanghvi and Vimla
Sanghvi and Prakash Sanghvi |
658165 |
1.41 |
|
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Babulal M. Sanghvi and
Shantaben B. Sanghvi and Prakash M. Sanghvi |
139330 |
0.30 |
|
|
Pavankumar Mishrimal
Sanghvi (HUF) |
131250 |
0.28 |
|
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Prakashmal Mishrimal
Sanghvi (HUF) |
507330 |
1.09 |
|
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Vijay C. Sanghvi and
Chandra V. Sanghvi and Prakash M. Sanghvi |
50810 |
0.11 |
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Pinky Jitendra Sanghvi
and Jitendra B. Sanghvi and Prakash M. Sanghvi |
50000 |
0.11 |
|
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Shital Jayantilal Sanghvi |
49830 |
0.11 |
|
|
Arunaben C. Sanghvi and Chunilal
M. SanghvI and Prakash M. Sanghvi |
45205 |
0.10 |
|
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Mahendra C. Sanghvi and
Usha M. Sanghvi and Prakash M. Sanghvi |
40000 |
0.09 |
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Sheetal Nilesh Sanghvi |
25000 |
0.05 |
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Rishabh M. Sanghvi and
Mahendra C. Sanghvi and Prakash M. Sanghvi |
25000 |
0.05 |
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Sub Total A1 |
28079625 |
60.09 |
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A2) Foreign |
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|
A=A1+A2 |
28079625 |
60.09 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name of the Shareholders |
Total No. shares held |
Shareholding % calculated as per SCRR 1957 As a % |
|
|
B1) Institutions |
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||
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Mutual Funds/ |
2176707 |
4.66 |
|
|
Dsp Blackrock Micro Cap Fund |
1198189 |
2.56 |
|
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Foreign Portfolio Investors |
6706956 |
14.35 |
|
|
Nalanda India Fund Limited |
3906664 |
8.36 |
|
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Nalanda India Equity Fund Limited |
1461644 |
3.13 |
|
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Saif India V Fii Holdings Limited |
781486 |
1.67 |
|
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Financial Institutions/ Banks |
10460 |
0.02 |
|
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Sub Total B1 |
8894123 |
19.03 |
|
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B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
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B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
3499674 |
7.49 |
|
|
Individual share capital in excess of
INR 0.200 Million |
4601164 |
9.85 |
|
|
Chunilal Fojaji Sanghvi |
1535780 |
3.29 |
|
|
Divya Vaghela |
1500000 |
3.21 |
|
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Any Other (specify) |
1653414 |
3.54 |
|
|
HUF |
103991 |
0.22 |
|
|
NRI – Non- Repat |
113363 |
0.24 |
|
|
NRI – Repat |
263899 |
0.56 |
|
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Clearing Members |
24414 |
0.05 |
|
|
Bodies Corporate |
1147747 |
2.46 |
|
|
Sub Total B3 |
9754252 |
20.87 |
|
|
B=B1+B2+B3 |
18648375 |
39.91 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes and generation of power by windmills. [Registered Activity] |
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Products: |
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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 – (As On 31.03.2017)
Installed Capacity
of Power:
|
Fuel |
MW |
%of Total |
|
Total Thermal |
220570 |
67.00% |
|
Coal |
194403 |
59.10% |
|
Gas |
25329 |
7.60% |
|
Oil |
838 |
0.30% |
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Hydro (Renewable) |
44594 |
13.50% |
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Nuclear |
6780 |
2.10% |
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RES* (MNRE) |
57260 |
17.40% |
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Total |
329204 |
100.00% |
Note: RES (Renewable Energy Sources) include Small Hydro Project, Biomass Grasifier, Biomass Power, Urban and Industrial Waste Power, Solar and Wind Energy.
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1940 (Approximately) |
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Bankers : |
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Facilities : |
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Financial
Institution: |
3I Infotech Trusteeship Services Limited, 3rd to 6th floor,
International Infotech Park, Tower No.5, Vashi Railway Station Complex,
Vashi, Navi Mumbai – 400703, Maharashtra, India |
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STATUTORY
AUDITORS: |
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Name : |
Mehta Lodha and Company Chartered Accountants |
|
Address : |
105- Sarkar-1, Ashram Road, Ahmedabad – 380009, Gujarat, India |
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Name : |
S.R.B.C. and Company LLP Chartered Accountants |
|
Address : |
2nd Floor, Shivalik Ishaan Near CN Vidhyalaya Ambawadi, Ahmedabad
– 380015, Gujarat, India |
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INTERNAL AUDITORS: |
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Name : |
G. K. Choksi and Company Chartered Accountants |
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COST AUDITORS: |
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Name : |
N. D. Birla and Company Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares [In Lacks] |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
INR 2/- each |
INR 150.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares [In Lacks] |
Type |
Value |
Amount |
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|
46728000 |
Equity Shares |
INR 2/- each |
INR 93.456 Million |
|
|
|
|
|
Terms/Rights attached to Equity Shares
The Company has only one class of Equity Shares having a par value of INR 2/- per share. Each holder of Equity Shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to approval of the Shareholders at the ensuing Annual General Meeting.
For the current financial year 2016-17, the Company has proposed dividend of INR 5.50 per share to equity shareholder (declared in the previous year interim dividend of INR 5.50 per share).
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 Shareholders
Details of
Shareholders holding more than 5% Equity Shares in the Company
|
Name of the
Shareholder |
No.
of Shares |
%
held |
|
Prakash M. Sanghvi |
5426690 |
11.61% |
|
Nalanda India Equity Fund Limited |
3906664 |
8.36% |
|
Jayanti M. Sanghvi |
3861195 |
8.26% |
As per records of the Company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents legal ownerships of shares.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
93.456 |
93.456 |
93.456 |
|
(b) Reserves &
Surplus |
11775.960 |
10347.559 |
8990.300 |
|
(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) |
11869.416 |
10441.015 |
9083.756 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
84.080 |
|
(b) Deferred tax
liabilities (Net) |
472.563 |
482.960 |
477.650 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.103 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
480.666 |
482.960 |
561.730 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
143.090 |
220.223 |
|
(b) Trade payables |
1171.052 |
1225.404 |
1275.555 |
|
(c) Other current
liabilities |
551.651 |
849.244 |
694.899 |
|
(d) Short-term provisions |
56.818 |
30.403 |
419.791 |
|
Total Current Liabilities
(4) |
1779.521 |
2248.141 |
2610.468 |
|
|
|
|
|
|
TOTAL |
14129.603 |
13172.116 |
12255.954 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4474.844 |
4450.471 |
4230.874 |
|
(ii) Intangible Assets |
6.240 |
9.465 |
16.650 |
|
(iii) Capital
work-in-progress |
383.093 |
476.564 |
417.980 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.619 |
0.619 |
0.703 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.926 |
0.856 |
249.428 |
|
(e) Other Non-current
assets |
158.919 |
81.716 |
0.000 |
|
Total Non-Current Assets |
5024.641 |
5019.691 |
4915.635 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
738.308 |
242.183 |
200.000 |
|
(b) Inventories |
3390.983 |
2947.297 |
3430.887 |
|
(c) Trade receivables |
4252.143 |
3899.445 |
2233.742 |
|
(d) Cash and cash
equivalents |
146.909 |
108.447 |
756.893 |
|
(e) Short-term loans and
advances |
2.160 |
296.863 |
680.774 |
|
(f) Other current assets |
574.459 |
658.190 |
38.023 |
|
Total Current Assets |
9104.962 |
8152.425 |
7340.319 |
|
|
|
|
|
|
TOTAL |
14129.603 |
13172.116 |
12255.954 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
14116.599 |
17176.626 |
16755.532 |
|
|
Other Income |
138.765 |
174.875 |
251.110 |
|
|
TOTAL |
14255.364 |
17351.501 |
17006.642 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
9130.738 |
10646.150 |
11488.217 |
|
|
Purchases of
Stock-in-Trade |
58.410 |
16.186 |
10.719 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(384.184) |
641.993 |
(553.816) |
|
|
Employees benefits
expense |
978.169 |
999.618 |
915.471 |
|
|
Other expenses |
1760.004 |
2016.967 |
1901.501 |
|
|
TOTAL |
11543.137 |
14320.914 |
13762.092 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2712.227 |
3030.587 |
3244.550 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
60.684 |
59.902 |
93.680 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2651.543 |
2970.685 |
3150.870 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
596.985 |
567.722 |
543.572 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2054.558 |
2402.963 |
2607.298 |
|
|
|
|
|
|
|
Less |
TAX |
611.567 |
750.759 |
882.218 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1442.991 |
1652.204 |
1725.080 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
1995.907 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2554.553 |
1863.107 |
3611.853 |
|
|
TOTAL EARNINGS |
2554.553 |
1863.107 |
3611.853 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
- Basic |
30.88 |
35.36 |
36.94 |
|
|
- Diluted |
30.88 |
35.36 |
36.94 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
88.219 |
84.080 |
|
Cash generated from operations |
2065.637 |
2219.750 |
2328.232 |
|
Net Cash (used in)/generated from operating activities |
1324.827 |
1557.256 |
1461.803 |
QUARTERLY
RESULTS
|
PARTICULARS |
|
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
|
|
|
Unaudited |
Unaudited |
|
Net Sales |
|
3175.670 |
3176.260 |
|
Total Expenditure |
|
2704.620 |
2664.680 |
|
PBIDT (Excl OI) |
|
471.050 |
511.580 |
|
Other Income |
|
29.940 |
32.250 |
|
Operating Profit |
|
500.980 |
543.830 |
|
Interest |
|
14.670 |
10.420 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
486.310 |
533.410 |
|
Depreciation |
|
152.360 |
145.630 |
|
Profit Before Tax |
|
333.950 |
387.780 |
|
Tax |
|
103.300 |
120.200 |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
230.650 |
267.580 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
230.650 |
267.580 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
109.94 |
82.86 |
48.66 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
3.32 |
4.40 |
7.50 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
46.52 |
41.95 |
40.49 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.80 |
1.03 |
0.95 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.56 |
0.61 |
0.70 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.13 |
0.18 |
0.23 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.02 |
0.04 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.15 |
0.22 |
0.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.41 |
0.47 |
0.51 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
44.69 |
50.59 |
34.63 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
10.22 |
9.62 |
10.30 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.21 |
12.54 |
14.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.16 |
15.82 |
18.99 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
5.12 |
3.63 |
2.81 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
3.21 |
2.32 |
1.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.84 |
0.79 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
2.48 |
4.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
5.12 |
3.63 |
2.81 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 985.65/- |
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 |
93.456 |
93.456 |
93.456 |
|
Reserves & Surplus |
8990.300 |
10347.559 |
11775.960 |
|
Net
worth |
9083.756 |
10441.015 |
11869.416 |
|
|
|
|
|
|
long-term borrowings |
84.080 |
0.000 |
0.000 |
|
Short term borrowings |
220.223 |
143.090 |
0.000 |
|
Current Maturities of Long
term debt |
84.080 |
88.219 |
0.000 |
|
Total
borrowings |
388.383 |
231.309 |
0.000 |
|
Debt/Equity
ratio |
0.043 |
0.022 |
0.000 |
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
|
16872.400 |
17176.626 |
14116.599 |
|
|
|
1.803 |
(17.815) |
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
|
16872.400 |
17176.626 |
14116.599 |
|
Profit |
1725.080 |
1652.204 |
1442.991 |
|
|
10.22% |
9.62% |
10.22% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
93.456 |
93.456 |
|
(b) Reserves &
Surplus |
|
11784.365 |
10358.602 |
|
(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) |
|
11877.821 |
10452.058 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
472.563 |
482.960 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
8.103 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
480.666 |
482.960 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
143.090 |
|
(b) Trade payables |
|
1171.381 |
1227.667 |
|
(c) Other current
liabilities |
|
551.654 |
849.603 |
|
(d) Short-term provisions |
|
56.818 |
30.403 |
|
Total Current Liabilities
(4) |
|
1779.853 |
2250.763 |
|
|
|
|
|
|
TOTAL |
|
14138.340 |
13185.781 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4474.844 |
4450.471 |
|
(ii) Intangible Assets |
|
6.240 |
9.465 |
|
(iii) Capital
work-in-progress |
|
383.093 |
476.564 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.011 |
0.011 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.926 |
0.856 |
|
(e) Other Non-current
assets |
|
158.919 |
81.716 |
|
Total Non-Current Assets |
|
5024.033 |
5019.083 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
738.308 |
242.183 |
|
(b) Inventories |
|
3390.983 |
2947.297 |
|
(c) Trade receivables |
|
4254.304 |
3899.150 |
|
(d) Cash and cash
equivalents |
|
154.093 |
123.015 |
|
(e) Short-term loans and
advances |
|
2.160 |
296.863 |
|
(f) Other current assets |
|
574.459 |
658.190 |
|
Total Current Assets |
|
9114.307 |
8166.698 |
|
|
|
|
|
|
TOTAL |
|
14138.340 |
13185.781 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
14118.330 |
17178.002 |
|
|
Other Income |
|
138.765 |
174.875 |
|
|
TOTAL |
|
14257.095 |
17352.877 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
9130.738 |
10646.150 |
|
|
Purchases of
Stock-in-Trade |
|
58.410 |
16.186 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(384.184) |
641.993 |
|
|
Employees benefits
expense |
|
982.431 |
1001.001 |
|
|
Other expenses |
|
1759.834 |
2016.033 |
|
|
TOTAL |
|
11547.229 |
14321.363 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
2709.866 |
3031.514 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
60.721 |
59.940 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
2649.145 |
2971.574 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
596.985 |
567.722 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
2052.160 |
2403.852 |
|
|
|
|
|
|
|
Less |
TAX |
|
611.567 |
750.915 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
1440.593 |
1652.937 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
30.83 |
35.37 |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
The Company is a public Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The Company is engaged in the manufacturing of stainless steel pipes and tubes and carbon steel pipes at Kutch, Indrad and Chhatral in the state of Gujarat. The Company caters to both domestic and international markets.
The financial statements were authorized for issue in accordance with a resolution passed in Board Meeting held on 17th May 2017.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT-TERM
BORROWINGS |
|
|
|
Sales bills
discounted |
0.000 |
143.090 |
|
Total |
0.000 |
143.090 |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER SEPTEMBER 30, 2017
(INR In Million)
|
Particulars |
Quarter ended |
Quarter ended |
Half Year ended |
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
INCOME FROM OPERATIONS |
|
|
|
|
Sales/ Income from operation |
3176.261 |
3175.107 |
6351.368 |
|
Other Operating Income |
32.249 |
30.497 |
62.746 |
|
Total
Income from Operations |
3208.510 |
3205.604 |
6414.114 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
1976.045 |
2043.156 |
4019.201 |
|
Purchase of stock in trader |
0.000 |
0.000 |
0.000 |
|
Changes in inventories of finished goods and
work-in-progress |
55.762 |
(178.123) |
(122.361) |
|
Excise duty on sales |
0.000 |
230.514 |
230.514 |
|
Employee benefits expense |
251.198 |
234.139 |
485.337 |
|
Finance Costs |
10.422 |
14.667 |
25.089 |
|
Depreciation and Amortization expenses |
145.625 |
152.361 |
297.989 |
|
Other Expenditure |
381.676 |
374.945 |
756.621 |
|
Total
Expenses |
2820.728 |
2871.659 |
5692.387 |
|
Profit/(Loss)
from Ordinary Activities before Net Exceptional income/ (Expenditure) |
387.782 |
333.945 |
721.727 |
|
Less : Exceptional income |
-- |
- |
-- |
|
Profit
/ (Loss) before Tax |
387.782 |
333.945 |
721.727 |
|
Tax Expense |
(2.815) |
(2.814) |
(5.629) |
|
Profit
/ (Loss) after Tax |
264.766 |
227.831 |
492.597 |
|
Paid-up Equity Share Capital (Face value INR 10/- per share) |
93.456 |
93.456 |
93.456 |
|
Reserves (excluding Revaluation Reserve) |
|
|
|
|
Earnings
per Share (EPS) – INR |
|
|
|
|
Basic
and Diluted EPS (in INR) |
5.72 |
4.94 |
10.66 |
SEGMENT-WISE REVENUE, RESULT, ASSETS AND LIABILITIES
(INR In Million)
|
Sr. No. |
Particular |
Quarter ended |
Quarter ended |
Half Year ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
1. |
Segment Revenue |
|
|
|
|
|
Steel Tubes and Pipes |
3160.325 |
3153.323 |
6313.648 |
|
|
Windmills |
62.999 |
74.682 |
137.681 |
|
|
Total |
3223.324 |
3228.005 |
6451.329 |
|
|
Less: Intersegment Revenue |
47.063 |
52.898 |
99.961 |
|
|
Total Income from
Operations |
3176.261 |
3175.107 |
6351.368 |
|
|
|
|
|
|
|
2. |
Segment Result |
|
|
|
|
|
Steel Tubes and Pipes |
334.115 |
272.375 |
606.490 |
|
|
Windmills |
32.842 |
46.518 |
79.360 |
|
|
Total |
366.957 |
318.893 |
685.850 |
|
|
Add: Interest and Dividend Income and Fair value gain on financial instrument at fair value through profit and loss |
31.247 |
29.719 |
60.966 |
|
|
Less : Interest and Finance Charges |
10.422 |
14.667 |
25.089 |
|
|
Total Profit/(Loss)
before tax |
387.782 |
333.945 |
721.727 |
|
|
|
|
|
|
|
3. |
Segment Assets |
|
|
|
|
|
Steel Tubes and Pipes |
12689.965 |
11154.363 |
12689.965 |
|
|
Windmills |
891.080 |
922.536 |
891.080 |
|
|
Unallocable |
1326.824 |
2363.615 |
1326.824 |
|
|
|
14907.869 |
14440.514 |
14907.869 |
|
|
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
|
Steel Tubes and Pipes |
2278.101 |
1710.419 |
2278.101 |
|
|
Windmills |
1.448 |
1.505 |
1.448 |
|
|
Unallocable |
575.631 |
631.343 |
575.631 |
|
|
Total Segment
Liabilities |
2855.180 |
2343.267 |
2855.180 |
Note:
1. The above financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on November 07, 2017 and November 09, 2017, respectively. The Statutory auditors of the Company have carried out limited review of the same.
2. According to the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the revenue from operations for the quarter ended June 30, 2017, quarter and half year ended September 30, 2016 and year ended March 31, 2017 are inclusive of excise duty. Goods and Service Tax (“GST”) has been implemented with effect from July 1, 2017 which replaces excise duty and other input taxes. As per Ind AS 18, the revenue for the quarter ended September 30, 2017 is reported net of GST and accordingly, is not comparable to that extent with other published periods.
3. The Board of Directors of the Company in their meeting held on May 17, 2017,
recommended a final dividend of INR 5.50 per fully paid-up equity share of INR
2 each, aggregating to INR 257.004 million for the year ended March 31, 2017
and dividend distribution tax thereon, which was approved by shareholders at
the Annual General Meeting held on September 12, 2017.
4. Figures of previous periods/year have been regrouped, wherever considered
necessary to make them comparable to current period's figures.
STATEMENT
OF ASSET AND LIABILITIES 30.09.2017
(INR In Million)
|
SOURCES OF FUNDS |
|
|
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
93.456 |
|
(b) Reserves &
Surplus |
|
|
11959.233 |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
|
12052.689 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
|
438.054 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
21.983 |
|
Total Non-current
Liabilities (3) |
|
|
460.037 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
1264.156 |
|
(c) Other current
liabilities |
|
|
1058.472 |
|
(d) Short-term provisions |
|
|
72.515 |
|
Total Current Liabilities
(4) |
|
|
2395.143 |
|
|
|
|
|
|
TOTAL |
|
|
14907.869 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
4219.902 |
|
(ii) Intangible Assets |
|
|
4.748 |
|
(iii) Capital
work-in-progress |
|
|
550.112 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.608 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
2.037 |
|
(e) Other Non-current
assets |
|
|
214.912 |
|
Total Non-Current Assets |
|
|
4992.319 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
1251.874 |
|
(b) Inventories |
|
|
4502.243 |
|
(c) Trade receivables |
|
|
3262.139 |
|
(d) Cash and cash
equivalents |
|
|
74.787 |
|
(e) Short-term loans and
advances |
|
|
2.609 |
|
(f) Other current assets |
|
|
821.898 |
|
Total Current Assets |
|
|
9915.550 |
|
|
|
|
|
|
TOTAL |
|
|
14907.869 |
INDEX OF CHARGE:
|
S NO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
A70863808 |
10178252 |
ICICI BANK LIMITED |
16/09/2009 |
- |
- |
1217000000.0 |
9TH FLOOR, JMC HOUSE OPPOSITE PARIMAL GARDEN AHMEDABAD GUJARAT 380006 INDIA |
|
2 |
B95870341 |
80001941 |
STATE BANK OF INDIA |
31/08/2000 |
27/01/2014 |
- |
5285100000.0 |
COMMERCIAL BRANCH, "PARAMSIDDHI" COMPLEX OPPOSITE V. S. HOSPITAL, ELLISBRIDGE AHMEDABAD GUJARAT 380006 INDIA |
|
3 |
G35515618 |
10137333 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
15/01/2009 |
- |
10/02/2017 |
396000000.0 |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI NAVI MUMBAI MAHARSHTRA 400703 INDIA |
|
4 |
C02842714 |
10063901 |
UNIT TRUST OF INDIA INVESTMENT ADVISORY SERVICES LIMITED |
03/08/2007 |
- |
11/04/2014 |
531960000.0 |
UTI TOWER GN BLOCKBANDRA KURLA COMPLEX BANDRA EAST MUMBAI MAHARSHTRA 400051 INDIA |
|
5 |
B36149722 |
90103828 |
ICICI BANK U K LIMITED |
18/03/2005 |
09/04/2011 |
20/03/2012 |
153000000.0 |
21, KINGHTS BRIDGE LONDON SWIX7LY LONDON NANAGB |
|
6 |
A59776625 |
80002724 |
UTI BANK LIMITED |
24/02/2006 |
03/10/2006 |
31/03/2009 |
200000000.0 |
ELLISBRIDGE, AHMEDABAD GUJARAT 380006 INDIA |
|
7 |
A32084691 |
90103817 |
UTI BANK LIMITED |
30/10/2004 |
31/03/2005 |
05/02/2008 |
100000000.0 |
TRISHUL OPPOSITE SAMARTHESHWAR TEMPLE LAW GARDEN ; ELLISBRIDGE AHMEDABAD GUJARAT 380006 INDIA |
|
8 |
A24515314 |
90103824 |
ICICI BANK LIMITED |
01/02/2005 |
- |
05/10/2007 |
150000000.0 |
JMC HOUSE AHMEDABAD GUJARAT 380006 INDIA |
|
9 |
A17910696 |
90103827 |
ICICI BANK LIMITED |
14/03/2005 |
- |
03/07/2007 |
361000000.0 |
JMC HOUSE AHMEDABAD GUJARAT 380006 INDIA |
|
10 |
A01610120 |
90103816 |
PUNJAB NATIONAL BANK |
29/09/2004 |
- |
10/06/2006 |
0.0 |
VATVA BRANCH VATVA AHMEDABAD GUJARAT INDIA |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Bills discounted and not matured |
0.000 |
90.286 |
|
ESI Liability (excluding interest leviable, if any) |
32.231 |
29.590 |
|
Disputed Statutory Claims/levies for which the Company has preferred appeal in respect of (excluding interest leviable, if any) : |
|
|
|
- Income tax |
27.870 |
27.203 |
|
- Excise
Duty (Note) |
328.217 |
333.886 |
FIXED ASSETS:
Tangible Assets
- Lease Hold Land
- Freehold Land
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Vehicles
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 64.14 |
|
|
1 |
INR 79.43 |
|
Euro |
1 |
INR 89.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
NO |
|
--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.