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|
MIRA
INFORM REPORT
|
Report No. : |
490671 |
|
Report Date : |
10.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ELGI EQUIPMENTS LIMITED |
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|
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Registered
Office : |
ELGI Industrial Complex III, Trichy Road, Singanallur,
Coimbatore – 641005, Tamilnadu |
|
Tel. No.: |
91-422-2589555 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
14.03.1960 |
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Com. Reg. No.: |
18-000351 |
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Capital
Investment / Paid-up Capital : |
INR 158.450 Million |
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CIN No.: [Company Identification
No.] |
L29120TZ1960PLC000351 |
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|
IEC No.: |
0488015871 |
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GST 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.] |
AAACE4784E |
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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
: |
Manufacturer of Air Compressors. [Registered Activity] |
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No. of Employees
: |
1248 (Approximately) (excluding subsidiaries) |
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 |
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Maximum Credit Limit : |
USD 15452300 |
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Status : |
Excellent |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated in the year 1960. The company manufactures of air Compressors. As per the financial records of 2017, the company achieved an average growth of 3.03% in its revenue as compared to the previous year’s revenue and has reported fair profit margin of 7.21%. The healthy financial profile of the company is marked by sound net worth base along with negligible debt balance sheet profile and satisfactory liquidity position. The company has its share price trading at around INR 317.55 on BSE as on February 7, 2018 as against the Face value (FV) of INR 1. Business is active. Payments seems to be regular and as per commitments. In view of aforesaid, the company can be considered for normal business dealings at usual trade terms and condition. |
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 |
CRISIL |
|
Rating |
Long Term Loans=AA |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
31.05.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans=A1+ |
|
Rating Explanation |
Very Strong degree of safety and carry lowest
credit risk |
|
Date |
31.05.2017 |
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 10.02.2018.
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.
LOCATIONS
|
Registered Office/ Factory 1 : |
ELGI Industrial Complex III, Trichy Road, Singanallur,
Coimbatore – 641005, Tamilnadu, India |
|
Tel. No.: |
91-422-2589555/ 2589136/ 2589187 |
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Fax No.: |
91-422-2573697/ 2589401 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
H.No:12-13-188, IInd Floor, Street No.2, Taranaka, Hyderabad-500017, Telanagana, India |
|
Tel. No.: |
91-40-27000435/ 27000437/ 27000439/ 27000431 |
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Fax No.: |
91-40-27000438 |
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|
|
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Branch Office 2 : |
"ELGI House" 2 Mill Officer's Cp;pmy, Behind La Gajjar Chambers,
(Old Reserve Bank), Opposite Times of India, Ashram Road, Ahmedabad-380009,
Gujarat, India |
|
Tel. No.: |
91-79-26583736 |
|
|
|
|
Overseas Production
Centre: |
Elgi Equipments (Zhejiang) Limited, No. 4 Building, No.466
Yunhai Road, JiaXing, ZheJiang, P.R. China 314001 |
|
E-mail: |
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|
|
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Factory 2 (Foundry Division) : |
SF No: 212/1A, 213/1,
Kodangipalayam Village, Nallatipalayam Road, Singarampalayam Post,
Kinathukkadavu, Pollachi Taluk, Coimbatore – 642109, Tamilnadu, India |
|
Tel. No.: |
91-4259-241201/ 241401 |
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|
|
|
Global Support
Centre: |
Sf No. 221,221/2 and 221/3, Kothavadiroad, Kodangipalayam Village, Singarampalayam (Po), Kinathukkadavutaluk, Coimbatore-642109, Tamilnadu, India |
|
Tel. No.: |
91-422-2587000 |
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Factory 3 : |
Sf No. 221/ 1 to 3, 4pt, 5, 222/ 1B, 2, 223/1pt. 2, 225/1, 2, 226/1, 2C, 227/1, 2A, 2B, 2C1, 228/1,2, 229/B1, B2, B3, 232/B1, B2, 234/B1, 264/B1 and 264/B2, Kothavadi Road, Kodangipalayam Village, Singarampalayam (Po), Kinathukkadavutaluk, Coimbatore – 642109, Tamilnadu, India |
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|
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|
Other Branch Offices : |
Located
at :
· Bangalore · Bhopal · Coimbatore · Chennai · Jaipur · Kochi · Kolkata · Mumbai · New Delhi · Pune · Tiruchengode · Raipur · Surat · West Bengal |
|
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Overseas Offices: |
Located At: · Bangladesh · Sri Lanka · Thailand ·
Malaysia |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Thumala Balaji |
|
Designation : |
Director |
|
Address : |
1996/1 Krishna Colony Trichy Road, Coimbatore-641005,
Tamilnadu, India |
|
Date of Appointment : |
26..07.1984 |
|
DIN No.: |
00002755 |
|
|
|
|
Name : |
Mr. Harjeet Singh Wahan |
|
Designation : |
Director |
|
Address : |
No.176, Rajiv Gandhi Nagar, Sowripalayam, Coimbatore-641028,
Tamilnadu, India |
|
Qualification : |
06-11-1948 |
|
Experience : |
BE.,(Elec),BM |
|
Expertise in area : |
Has more than 30 years of experience in marketing and business processes. |
|
Date of Appointment : |
01.04.2015 |
|
DIN No.: |
00003358 |
|
|
|
|
Name : |
Mr. Mohan Nambiar |
|
Designation : |
Director |
|
Address : |
737a Puliakulam Road, Coimbatore-641043, Tamilnadu, India |
|
Date of Appointment : |
16.02.1983 |
|
DIN No.: |
00003660 |
|
|
|
|
Name : |
Mr. Mathrubutham Ramprasad |
|
Designation : |
Director |
|
Address : |
Old No.4/New No.7, Karpagam Garden 3rd Cross Street, Adyar,
Chennai-600020, Tamilnadu, India |
|
Date of Appointment : |
25.09.2004 |
|
DIN No.: |
00004275 |
|
|
|
|
Name : |
Mr. Ganesh Devaraj |
|
Designation : |
Director |
|
Address : |
638,14th Cross, 8th Main J.P.Nagar, 3rd Phase,
Bangalore-560078, Karnataka, India |
|
Date of Appointment : |
30.10.2003 |
|
DIN No.: |
00005238 |
|
|
|
|
Name : |
Mr. Balakrishnan Vijayakumar |
|
Designation : |
Director |
|
Address : |
28, Kamaraj Road Race Course, Coimbatore-641018,
Tamilnadu, India |
|
Date of Appointment : |
11.01.1993 |
|
DIN No.: |
00015583 |
|
|
|
|
Name : |
Mr. Jairam Varadaraj |
|
Designation : |
Managing Director |
|
Address : |
No.6, East End, Kallimadai Main Road, Singanallur,
Coimbatore-641005, Tamilnadu, India |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
B.com., MBA., Phd (USA) |
|
Experience : |
27 Years |
|
Date of Appointment : |
29.05.1992 |
|
DIN No.: |
00058056 |
|
|
|
|
Name : |
Mr. Gopinath Madhavi |
|
Designation : |
Director |
|
Address : |
Old No.691, New No.967, Avanashi Road, Coimbatore-641037,
Tamilnadu, India |
|
Date of Appointment : |
25.09.2014 |
|
DIN No.: |
00096061 |
|
|
|
|
Name : |
Mr. Sudarsan Varadaraj |
|
Designation : |
Director |
|
Address : |
227/1, Tea Estates Race Course, Coimbatore-641018,
Tamilnadu, India |
|
Date of Birth/Age : |
22.01.1958 |
|
Qualification : |
B.E., (Hons.), M.S (Mechanical Engg.) |
|
Expertise in area : |
More than 30 years of experience as an Industrialist |
|
Date of Appointment : |
18.11.1993 |
|
DIN No.: |
00133533 |
KEY EXECUTIVES
|
Name : |
Mr. Srinivas Sriram |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
No.3/2, L.I.C. Colony Extn., Thiruvanmiyur,
Chennai-600041, Tamilnadu, India |
|
Date of Appointment : |
29.05.2014 |
|
PAN No.: |
AAAPS7236A |
|
|
|
|
Name : |
Vaishnavi PM |
|
Designation : |
Company Secretary |
|
Address : |
21/22-24, Krishnama Naidu Street Ondipudur, Coimbatore-641016, Tamilnadu, India |
|
Date of Appointment : |
01.08.2014 |
|
PAN No.: |
AIYPV0389H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
Promoter & Promoter Group |
50548471 |
31.90 |
|
Public |
107906037 |
68.10 |
|
|
|
|
|
Grand Total |
158454508 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category
of shareholder |
No.
of fully paid up equity shares held |
Shareholding
as a % of total no. of shares (calculated as per SCRR, 1957)As a % of
(A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu
undivided Family |
1,73,66,505 |
10.96 |
|
|
JAIRAM VARADARAJ |
1,41,60,478 |
8.94 |
|
|
ANVAR JAY VARADARAJ |
9,62,624 |
0.61 |
|
|
VARUN JAY VARADARAJ |
9,58,342 |
0.60 |
|
|
MAYA JAY VARADARAJ |
9,58,324 |
0.60 |
|
|
UDAY BALAJI |
64,000 |
0.04 |
|
|
VANITHA MOHAN |
57,720 |
0.04 |
|
|
SUDARSAN VARADARAJ |
41,786 |
0.03 |
|
|
HARSHA VARADARAJ |
40,000 |
0.03 |
|
|
VARSHINI VARADARAJ |
40,000 |
0.03 |
|
|
T. BALAJI |
31,000 |
0.02 |
|
|
GAYATHRI BALAJI |
20,863 |
0.01 |
|
|
VIREN MOHAN |
19,980 |
0.01 |
|
|
VINAY BALAJI |
11,188 |
0.01 |
|
|
L.G. VARADARAJULU |
200 |
0.00 |
|
|
Any Other
(specify) |
3,31,81,966 |
20.94 |
|
|
L.G.B. PUBLIC WELFARE SOCIETY |
12,61,130 |
0.80 |
|
|
DARK HORSE PORTFOLIO INVESTMENT LIMITED |
2,55,09,390 |
16.10 |
|
|
ELGI ULTRA INDUSTRIES LIMITED |
60,79,366 |
3.84 |
|
|
ELGI RUBBER COMPANY LIMITED |
3,32,080 |
0.21 |
|
|
Sub Total A1 |
5,05,48,471 |
31.90 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
5,05,48,471 |
31.90 |
|
Statement showing
shareholding pattern of the Public shareholder
|
Category
& Name of the Shareholders |
No.
of fully paid up equity shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
18654637 |
11.77 |
|
|
SBI EMERGING BUSINESSES FUND |
13977243 |
8.82 |
|
|
ICICI PRUDENTIAL MIDCAP FUND |
2013660 |
1.27 |
|
|
HDFC TRUSTEE COMPANY LIMITED - HDFC
LONGTERM ADVANTAGE FUND |
1701000 |
1.07 |
|
|
Foreign
Portfolio Investors |
24857260 |
15.69 |
|
|
PARI WASHINGTON INDIA MASTER FUND LIMITED |
8765714 |
5.53 |
|
|
NALANDA INDIA EQUITY FUND LIMITED |
4442385 |
2.80 |
|
|
EAST SAIL |
4388965 |
2.77 |
|
|
FIRST STATE INVESTMENTS LCVC-STEWART
INVESTORS ASIA PACIFIC FUND |
2104378 |
1.33 |
|
|
Financial
Institutions/ Banks |
21145 |
0.01 |
|
|
Any Other
(specify) |
422883 |
0.27 |
|
|
FOREIGN MUTUAL FUND |
420383 |
0.27 |
|
|
FOREGIN BANK |
2000 |
0.00 |
|
|
UTI |
500 |
0.00 |
|
|
Sub Total B1 |
43955925 |
27.74 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central
Government/ State Government(s)/ President of India |
120758 |
0.08 |
|
|
Sub Total B2 |
120758 |
0.08 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
23379608 |
14.75 |
|
|
Individual share
capital in excess of INR 0.200 Million |
16138277 |
10.18 |
|
|
NEMISH S SHAH |
2680000 |
1.69 |
|
|
Any Other
(specify) |
24311469 |
15.34 |
|
|
Trusts |
200 |
0.00 |
|
|
HUF |
1298314 |
0.82 |
|
|
NRI – Non- Repat |
616443 |
0.39 |
|
|
NRI – Repat |
291415 |
0.18 |
|
|
Employees |
310080 |
0.20 |
|
|
Unclaimed or Suspense or Escrow Account |
407671 |
0.26 |
|
|
Clearing Members |
87025 |
0.05 |
|
|
Market Maker |
395 |
0.00 |
|
|
Bodies Corporate |
21299926 |
13.44 |
|
|
GAGANDEEP CREDIT CAPITAL PVT. LIMITED |
8152575 |
5.15 |
|
|
Sub Total B3 |
63829354 |
40.28 |
|
|
B=B1+B2+B3 |
107906037 |
68.10 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Air Compressors. [Registered Activity] |
|
|
|
|
Products/ Services : |
Air Compressors |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
1248 (Approximately) (excluding subsidiaries) |
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Bankers : |
·
Central Bank of India ·
State Bank of India ·
The Hongkong and Shanghai Banking
Corporation Limited · HDFC Bank Limited |
|||||||||||||||||||||
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|
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Facilities : |
|
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Statutory Auditors : |
|
|
Name
: |
RJC
Associates Chartered Accountants |
|
Address
: |
Flat
F-1, ‘B’ Block Aditya Apartments, 1152, Trichy Road, Coimbatore-641045,
Tamilnadu, India |
|
Tel
No : |
91-422-2313577/ 2316544 |
|
E-mail
: |
|
|
Cost Auditors : |
|
|
Name : |
STR
and Associates Cost
Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries Companies : |
· ATS Elgi Limited · Elgi Equipments Limited (Zhejiang) · Elgi Compressors Trading Co. Limited (Shanghai) · Belair SAS* · Elgi Gulf (FZE) · Elgi Compressors Do Brazil Imp. E. EXP.LTDA · Elgi Australia PTY Ltd. · Elgi Compressors Italy S.R.L · Rotair SPA · Elgi Compressors USA Inc. · Patton's Inc · Patton's Medical LLC. · Adisons Precision Instruments Manufacturing Company Limited · PT Elgi Equipments Indonesia ·
Ergo Design Private Limited |
|
|
|
|
Joint Venture : |
· Elgi Sauer Compressors Limited · Industrial Air Solutions LLP |
|
|
|
|
Other Companies / Firms in which Directors or there relatives are
interested : |
· L.G. Balakrishnan & Bros Limited · Elgi Ultra Industries Limited · Ellargi & Co · Elgi Rubber Company Limited · LGB Forge Limited · Pricol Travels Limited · Festo Controls Private Limited · Magna Electro Castings Limited · L GB Fuel Systems Private Limited · Elgi Automotive Services Private Limited |
Note: * Belair SAS ceased to be a subsidiary w.e.f. March 31, 2016.
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares (INR in Million) |
Type |
Value |
Amount |
|
|
|
|
|
|
300.00 |
Equity Shares |
INR 1/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares (INR in Million) |
Type |
Value |
Amount |
|
|
|
|
|
|
158.45 |
Equity Shares |
INR 1/- each |
INR 158.450 Million |
|
|
|
|
|
Movements in equity
share capital :
|
Particulars |
Number of Shares |
Equity share capital (per value) |
|
Equity shares of INR 1 each |
|
|
|
As at March 31, 2017 |
158.450 |
158.45 |
TERMS AND RIGHTS ATTACHED TO EQUITY SHARES:
The Company has one class of equity shares having a par value of INR 1/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. During the year ended March 31, 2017, the amount of dividend per share recognized as distributions to equity shareholders is INR 1/- (March 31, 2016: INR 1/-).
Details
of shareholders holding more than 5% shares in the company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Dark Horse Portfolio Investment Limited |
25509390 |
16.10 |
|
SBI Emerging Business Fund |
14377243 |
9.07 |
|
Jairam Varadaraj |
14160478 |
8.94 |
|
Pari Washington Company P. Limited, A/c Pari Washington India Master Fund, Limited |
8765714 |
5.53 |
|
Gagandeep Credit Capital Private Limited |
8152575 |
5.15 |
ESPS / Bonus issue
during the last 5 years :
|
Name of
Shareholder |
Face
value (in INR) |
Number
of Shares |
Financial Year |
|
Employees Stock Purchase Scheme |
1 |
583600 |
2010-11 |
|
Bonus Shares |
1 |
78935454 |
2010-11 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
158.450 |
158.450 |
158.450 |
|
(b) Reserves & Surplus |
5249.880 |
4720.810 |
4800.810 |
|
(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) |
5408.330 |
4879.260 |
4959.260 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
98.320 |
38.110 |
73.330 |
|
(c)
Other long term liabilities |
31.860 |
46.990 |
55.850 |
|
(d)
long-term provisions |
35.910 |
28.560 |
21.260 |
|
Total
Non-current Liabilities (3) |
166.090 |
113.660 |
150.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
484.910 |
637.970 |
1133.400 |
|
(b)
Trade payables |
1149.670 |
1171.420 |
996.570 |
|
(c)
Other current liabilities |
350.850 |
338.090 |
332.170 |
|
(d)
Short-term provisions |
113.700 |
173.520 |
77.210 |
|
Total
Current Liabilities (4) |
2099.130 |
2321.000 |
2539.350 |
|
|
|
|
|
|
TOTAL |
7673.550 |
7313.920 |
7649.050 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2368.350 |
2553.150 |
2694.200 |
|
(ii)
Intangible Assets |
19.210 |
15.220 |
5.660 |
|
(iii)
Capital work-in-progress |
2.580 |
5.160 |
63.460 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1433.570 |
1242.380 |
1305.580 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
49.720 |
18.670 |
15.910 |
|
(e)
Other Non-current assets |
49.250 |
43.480 |
36.140 |
|
Total
Non-Current Assets |
3922.680 |
3878.060 |
4120.950 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1003.730 |
977.700 |
1129.780 |
|
(c)
Trade receivables |
1591.670 |
1597.280 |
1642.210 |
|
(d)
Cash and cash equivalents |
537.000 |
381.030 |
227.530 |
|
(e)
Short-term loans and advances |
145.120 |
105.490 |
131.260 |
|
(f)
Other current assets |
473.350 |
374.360 |
397.320 |
|
Total
Current Assets |
3750.870 |
3435.860 |
3528.100 |
|
|
|
|
|
|
TOTAL |
7673.550 |
7313.920 |
7649.050 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
9487.140 |
9207.770 |
7759.310 |
|
|
|
Other Income |
143.050 |
135.340 |
123.620 |
|
|
|
TOTAL (A) |
9630.190 |
9343.110 |
7882.930 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4216.370 |
4140.180 |
3649.940 |
|
|
|
Purchases of Stock-in-Trade |
913.980 |
811.050 |
872.200 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
22.250 |
51.620 |
(6.460) |
|
|
|
Employees benefits expense |
1179.590 |
1063.020 |
1000.960 |
|
|
|
Other expenses |
1464.690 |
1478.390 |
1351.130 |
|
|
|
Exceptional Items |
0.000 |
551.760 |
0.000 |
|
|
|
Excise Duty |
570.000 |
551.580 |
0.000 |
|
|
|
TOTAL (B) |
8366.880 |
8647.600 |
6867.770 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1263.310 |
695.510 |
1015.160 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.240 |
35.120 |
37.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
1251.070 |
660.390 |
978.090 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
368.360 |
369.470 |
291.360 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
882.710 |
290.920 |
686.730 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
198.880 |
196.980 |
130.520 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
683.830 |
93.940 |
556.210 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Earnings
from Direct Exports |
NA |
NA |
1627.660 |
|
|
TOTAL EARNINGS |
NA |
NA |
1627.660 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
592.250 |
|
|
|
Machinery
spares |
|
|
12.540 |
|
|
|
Capital Goods |
|
|
18.000 |
|
|
|
Traded
goods |
|
|
173.140 |
|
|
TOTAL IMPORTS |
NA |
NA |
795.930 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (INR) |
4.32 |
0.59 |
3.51 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
1037.970 |
1554.840 |
930.740 |
|
|
|
|
|
|
Net cash inflow from operating activities |
880.280 |
1354.820 |
788.240 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Operating Income * 365 Days) |
459.87 |
838.24 |
590.46 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income / Sundry Debtors) |
0.79 |
0.44 |
0.62 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
81.79 |
86.36 |
80.44 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.26 |
0.71 |
0.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.53 |
0.27 |
0.37 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.27 |
0.32 |
0.33 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.09 |
0.13 |
0.23 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.39 |
0.48 |
0.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.44 |
0.53 |
0.56 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
103.21 |
19.80 |
27.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
7.21 |
1.02 |
7.17 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
8.91 |
1.28 |
7.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
12.64 |
1.93 |
11.22 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.79 |
1.48 |
1.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.31 |
1.06 |
0.94 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.70 |
0.67 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.06 |
4.03 |
7.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.79 |
1.48 |
1.39 |
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
|
|
|
Market Value |
INR 317.55/- |
FINANCIAL DATA
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In
Million |
INR
In Million |
INR
In Million |
|
Share Capital |
158.450 |
158.450 |
158.450 |
|
Reserves & Surplus |
4800.810 |
4720.810 |
5249.880 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4959.260 |
4879.260 |
5408.330 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1133.400 |
637.970 |
484.910 |
|
Total
borrowings |
1133.400 |
637.970 |
484.910 |
|
Debt/Equity
ratio |
0.229 |
0.131 |
0.090 |
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 |
7759.310 |
9207.770 |
9487.140 |
|
|
|
18.667 |
3.034 |
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 |
7759.310 |
9207.770 |
9487.140 |
|
Profit |
556.210 |
93.940 |
683.830 |
|
|
7.17% |
1.02% |
7.21% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
158.450 |
158.450 |
|
(b) Reserves & Surplus |
|
5910.540 |
5303.680 |
|
(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) |
|
6068.990 |
5462.130 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
965.760 |
1391.230 |
|
(b) Deferred tax liabilities (Net) |
|
169.250 |
177.700 |
|
(c)
Other long term liabilities |
|
52.480 |
63.200 |
|
(d)
long-term provisions |
|
35.910 |
34.950 |
|
Total
Non-current Liabilities (3) |
|
1223.400 |
1667.080 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1144.870 |
1225.570 |
|
(b)
Trade payables |
|
1690.960 |
1695.760 |
|
(c)
Other current liabilities |
|
915.710 |
1002.070 |
|
(d)
Short-term provisions |
|
222.130 |
155.520 |
|
Total
Current Liabilities (4) |
|
3973.670 |
4078.920 |
|
|
|
|
|
|
TOTAL |
|
11266.060 |
11208.130 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3169.300 |
3386.100 |
|
(ii)
Intangible Assets |
|
24.780 |
21.210 |
|
(iii)
Capital work-in-progress |
|
35.600 |
19.720 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
196.030 |
148.660 |
|
(c) Deferred tax assets
(net) |
|
145.980 |
146.550 |
|
(d) Long-term Loan
and Advances |
|
50.600 |
22.260 |
|
(e)
Other Non-current assets |
|
57.010 |
52.920 |
|
(f)
Goodwill |
|
1171.620 |
1212.480 |
|
Total
Non-Current Assets |
|
4850.920 |
5009.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2260.470 |
2256.400 |
|
(c)
Trade receivables |
|
2456.850 |
2530.670 |
|
(d)
Cash and cash equivalents |
|
1059.110 |
827.960 |
|
(e)
Short-term loans and advances |
|
51.420 |
27.040 |
|
(f)
Other current assets |
|
587.290 |
556.160 |
|
Total
Current Assets |
|
6415.140 |
6198.230 |
|
|
|
|
|
|
TOTAL |
|
11266.060 |
11208.130 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
14380.500 |
14660.170 |
|
|
|
Other Income |
|
101.410 |
91.220 |
|
|
|
TOTAL |
|
14481.910 |
14751.390 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
5320.640 |
5553.800 |
|
|
|
Purchases of Stock-in-Trade |
|
2202.370 |
2098.400 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
15.710 |
145.980 |
|
|
|
Employees benefits expense |
|
2538.210 |
2567.380 |
|
|
|
Other expenses |
|
2212.820 |
2391.460 |
|
|
|
Excise Duty |
|
679.380 |
651.970 |
|
|
|
Exceptional Items |
|
0.000 |
43.510 |
|
|
|
Share of net profit of joint ventures accounted for using the equity method |
|
(15.660) |
(12.660) |
|
|
|
TOTAL |
|
12953.470 |
13439.840 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
1528.440 |
1311.550 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
77.540 |
122.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1450.900 |
1189.220 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
446.410 |
435.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
|
1004.490 |
753.470 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
264.490 |
244.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
|
740.000 |
509.300 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (INR) |
|
4.67 |
3.22 |
|
LEGAL CASES
|
High Court of
Madras |
||||||||||||||
|
Case Status
Information System |
||||||||||||||
|
||||||||||||||
|
Connected
Application(s) |
||||||||||||||
|
No Connected
Application |
||||||||||||||
|
Order(s) |
||||||||||||||
|
No Orders |
||||||||||||||
|
Connected Matter(s) |
||||||||||||||
|
No Connected Cases |
|
High Court of
Madras |
||||||||||||||
|
Case Status
Information System |
||||||||||||||
|
||||||||||||||
|
Connected
Application(s) |
||||||||||||||
|
||||||||||||||
|
Order(s) |
||||||||||||||
|
No Orders |
||||||||||||||
|
Connected
Matter(s) |
||||||||||||||
|
No Connected
Cases |
|
High Court of
Madras |
||||||||||||||
|
Case Status
Information System |
||||||||||||||
|
||||||||||||||
|
Connected
Application(s) |
||||||||||||||
|
No Connected
Application |
||||||||||||||
|
Order(s) |
||||||||||||||
|
No Orders |
||||||||||||||
|
Connected
Matter(s) |
||||||||||||||
|
No Connected
Cases |
|
High Court of
Madras |
||||||||||||||
|
Case Status
Information System |
||||||||||||||
|
||||||||||||||
|
Connected
Application(s) |
||||||||||||||
|
No Connected
Application |
||||||||||||||
|
Order(s) |
||||||||||||||
|
No Orders |
||||||||||||||
|
Connected
Matter(s) |
||||||||||||||
|
No Connected
Cases |
|
High Court of
Madras |
||||||||||||||
|
Case Status
Information System |
||||||||||||||
|
||||||||||||||
|
Connected
Application(s) |
||||||||||||||
|
||||||||||||||
|
Order(s) |
||||||||||||||
|
No Orders |
||||||||||||||
|
Connected
Matter(s) |
||||||||||||||
|
No Connected
Cases |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
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 |
C78277704 |
10618595 |
The Hongkong and Shanghai Banking Corporation Limited |
09/02/2016 |
- |
- |
471700000.0 |
No 30, Rajaji Salai,Opp to Beach StationChennaiTN600001IN |
|
2 |
B96678883 |
10389825 |
The Hongkong and Shanghai Banking Corporation Limited |
21/11/2012 |
13/02/2014 |
- |
1885500000.0 |
NO 30 RAJAJI SALAICHENNAITN600001IN |
|
3 |
B76396431 |
80026380 |
CENTRAL BANK OF INDIA |
15/07/1993 |
08/04/2013 |
- |
235000000.0 |
14&15 VARIETY HALL ROADCOIMBATORETN641001IN |
|
4 |
B76395896 |
80026384 |
THE STATE BANK OF INDIA |
15/07/1993 |
08/04/2013 |
- |
970000000.0 |
COMMERCIAL BRANCHTRICHY ROADCOIMBATORETN641018IN |
|
5 |
G06391841 |
10380306 |
Standard Chartered Bank |
24/08/2012 |
- |
28/06/2016 |
142680000.0 |
19Rajaji SalaiChennaiTN600001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
from Banks |
484.910 |
373.970 |
|
from related parties |
0.000 |
70.000 |
|
|
|
|
|
Total |
484.910 |
443.970 |
GENERAL INFORMATION
"The Company" is
engaged in manufacturing of air compressors. The Company has manufacturing
plants in different locations in India and has its registered ofce in
Coimbatore. The Company is a public limited company and listed on both the
Bombay Stock Exchange and the National Stock Exchange.
REVIEW OF BUSINESS
OPERATIONS
The Company ended with net
sales (excluding excise duty) of INR 8917.000 Million as against INR 8656.000
Million in 2015-16. The details of division wise performance and other
operational details are discussed at length in the Management Discussion and
Analysis. There was no change in the nature of business of the Company during
the Financial year ended 31st March, 2017.
MANAGEMENT DISCUSSION
AND ANALYSIS
ELGI EQUIPMENTS LIMITED
Uncertainties prevailed
across the global markets though lesser in the emerging markets and developing economies.
Investments continue to trickle cautiously with midterm prospects remaining fluid.
The domestic market gained momentum in the back drop of a stable government but
slowed down due to delays in policy
decisions and
demonetization.
PERFORMANCE:
World economy grew by 3.1%
in 2016 and is forecast to grow by 3.4% in 2017.
The growth in Indian market
remained stagnant in the second half of the year, with the impact of demonetization
lasting for a significant amount of time. However, the Company has been able to
recover its position in the last quarter to post modest growth.
Company has seen business
improvements in neighbouring markets on the back of improving market sentiments
in some countries.
Despite an economic slow
down due to drop in oil prices and political instability across the Middle
Eastern and African region, the Company has grown its business in key markets.
The Company’s reference customer base has been increased in new target
segments. African market continues to be a challenge due to political and economic
uncertainty in most key markets for compressors.
The Company has completed
restructuring its operations in China. This has resulted in bringing down the
losses substantially and keeping a minimum workforce to sustain after sales
service. Activity will continue to be at a low key till re-engineered products suited
to Chinese market are introduced in future.
The business has grown in
all the other South East Asian Countries. The markets are stable and we are
targeting
a higher market share,
focusing on brand and network building. The trend looks positive.
The Company’s products
continue to gain significant momentum in the U.S. markets. Bulk of the issues
at Patton's are behind them and they are looking at improvements in the
subsequent years. Brazil's economy is challenging with very high levels of uncertainty.
The economy is expected to grow by only 2% and they expect high liquidity
problems in the market in the near future.
Their European subsidiary
Rotair spa has performed to their expectations and we expect 2017-18 to be a
good year.
ATS ELGI LIMITED:
PERFORMANCE
The Indian Passenger
Vehicle Market grew by 12% during the first half of the year, but this momentum
could not be sustained due to demonetization and as a result the overall growth
for the year came to 9%. This resulted in delay in investment for capacity
expansion of existing and new workshops. However, focusing on product mix, and
relentless efforts on the Wheel Service Equipment, the Company recorded a
growth of 11% over the last year.
Exports proved to be
promising at 11% growth over the last year; especially the sales from the
neighbouring countries is very encouraging and the trend looks positive.
Therefore, in line with the
market conditions, especially the effect of demonetization, the overall performance
of the Company is appreciable.
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017
(INR
IN Million)
|
Sr. No |
Particulars |
Quarter Ended |
Nine months Ended |
|
|
31.12.2017 Unaudited |
30.09.2017 Unaudited |
31.12.2017 Unaudited |
||
|
1 |
Revenue From
Operations |
|
|
|
|
|
a. Revenue from Operations excluding Excise Duty |
2681.280 |
2335.980 |
7221.320 |
|
|
Excise Duty |
-- |
--- |
145.020 |
|
|
|
2681.280 |
2335.980 |
7366.340 |
|
|
b. Other Income |
20.940 |
30.600 |
129.040 |
|
|
Total Income from
Operations (Net) |
2702.220 |
2366.580 |
7495.380 |
|
2 |
Expenditure |
|
|
|
|
|
a. Cost of material Consumed |
1414.700 |
1085.310 |
3711.100 |
|
|
b. Purchase of Stock-in trade |
156.930 |
297.520 |
658.310 |
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
2.890 |
(42.060) |
(185.900) |
|
|
d. Excise duty Expenses |
--- |
--- |
145.020 |
|
|
e. Employees Benefit Expenses |
365.010 |
328.910 |
1030.510 |
|
|
f. Finance Costs |
3.820 |
2.730 |
9.650 |
|
|
g. Depreciation and Amortisation Expenses |
93.230 |
92.470 |
273.400 |
|
|
h. Other expenses |
417.950 |
368.230 |
1125.140 |
|
|
Total Expenses |
2454.530 |
2133.110 |
6767.230 |
|
3 |
Profit/(Loss) before exceptional items and tax (1-2) |
247.690 |
233.470 |
728.150 |
|
4 |
Exceptional items |
--- |
--- |
(27.440) |
|
5 |
Profit/(Loss) before tax (3+4) |
247.690 |
233.470 |
700.710 |
|
6 |
Tax Expense |
|
|
|
|
|
Current Tax |
59.300 |
79.790 |
211.590 |
|
|
Deferred Tax |
(5.470) |
(20.800) |
(44.370) |
|
7 |
Net Profit/(Loss)
for the period (5-6) |
193.860 |
174.480 |
533.490 |
|
8 |
Other Comprehensive income, net of income tax |
|
|
|
|
|
|
31.250 |
(0.370) |
18.080 |
|
|
|
--- |
--- |
--- |
|
|
Total other comprehensive income, net of income tax |
31.250 |
174.110 |
551.570 |
|
9 |
Total Comprehensive income for the period (7+8) |
225.110 |
174.110 |
551.570 |
|
10 |
Paid-up equity share capital (face value of INR 1 each) |
158.340 |
158.340 |
158.340 |
|
11 |
Earning Per Share (of INR 1/- each) (not annualised) |
|
|
|
|
|
Basic |
1.22 |
1.10 |
3.37 |
|
|
Diluted |
1.22 |
1.10 |
3.37 |
|
12 |
Reserve excluding Revaluation reserve |
|
|
|
Notes :
1. The above standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors of Elgi Equipments Limited ("the Company") at their meeting held on January 29, 2018. The statutory auditors of the Company have carried out a limited review of the financial results. The results for the quarter ended December 31,2016 and year ended March 31, 2017 were reviewed/audited, as applicable, by the erstwhile statutory auditors of the Company.
2. This statement has been prepared in accordance with the Companies (Indian
Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the
Companies Act, 2013 and other recognised accounting practices and policies to
the extent applicable,
3. The Government of India introduced the Goods and Service Tax (GST) with
effect from July 1, 5017, Accordingly, in compliance with Indian Accounting
Standard (Ind AS) i8-'Rcvenuc\ Revenue from operations for the quarters ended
December 31, 2017 and September 30, 2017 is presented net of GST. Revenue from
operations for the nine months ended December 31, 2017 includes excise duty
upto June 30,2017.
4. The business activities reflected in the above financial results comprise of
manufacturing and sale of compressors. Accordingly, there is no other
reportable segment as per Ind AS 108 Operating Segments.
5. Other expenses for the quarter and nine months ended December 31, 2017
includes impairment of investment made by the Company in its wholly owned
subsidiary Elgi Equipments (Zhejiang) Limited amounting to INR 28.190
million.
6. Exceptional item of INR 27.440 million for the nine months ended December
31, 2017 pertains to expense under the Company's Voluntary Retirement Scheme
(VRS),
7. Previous period / year figures have been regrouped / reclassified to make
them comparable with those of current period.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Guarantees
and Letter of credit |
45.770 |
251.530 |
|
Estimated
amount of contracts remaining to be executed on capital account |
80.630 |
62.510 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Canteen Equipments
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 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
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 |
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.