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MIRA INFORM REPORT
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Report No. : |
490716 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
L&T HYDROCARBON ENGINEERING LIMITED [w.e.f. 21.05.2013] |
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Formerly Known
As : |
L&T TECHNOLOGIES LIMITED |
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Registered
Office : |
L&T House, Ballard Estate, Mumbai – 400001, Maharashtra |
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Tel. No.: |
91-22-67525656 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
02.04.2009 |
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Com. Reg. No.: |
11-191426 |
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Capital
Investment / Paid-up Capital : |
INR 17600.500 Million |
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CIN No.: [Company Identification
No.] |
U11200MH2009PLC191426 |
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IEC No.: |
Not Divulged |
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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.] |
AABCL5967D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
Information denied by the management |
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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Maximum Credit Limit : |
INR 2551760000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Larsen and Toubro Limited” and it was incorporated in the year 2009. As per Registrar of Companies, the date of filling its shown as 31.03.2017 but documents related to the FY 2017 are not available from any other sources. As per available financials of March 2016, the company has registered a growth of 24.25% in its revenue as compared to previous year’s revenue and has reported average profit margin of 1.22%. Rating takes into consideration the company’s established track record of business operations marked by healthy financial risk profile along with low solvency indicators and good liquidity position. Rating also takes into account the strong financial and managerial support received from its holding entity backed by its well experienced management team. However, rating strength is partially offset by negative reserves of the company. Payments seem to be regular. In view of aforesaid, the company can be considered for good business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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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
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating = AAA |
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Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
31.03.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 09.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-44-27967278/ 6752283/ 67525656)
LOCATIONS
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Registered Office : |
L&T House, Ballard Estate, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-67525656 |
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Fax No.: |
91-22-67525693 |
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E-Mail : |
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Website : |
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Branch Office : |
Modular Fabrication Facility, Kattupalli, Thiruvallur District –
600120, Tamilnadu, India |
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Tel. No.: |
91-44-27967278 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Subramanian Sudarsanam Sarma |
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Designation : |
Managing Director |
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Address : |
Apartment No. 505, Building No. 5 Marina Residence, Palm Jumeirah Dubai 000000 Ae |
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Date of Birth/Age : |
04.02.1958 |
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Qualification: |
Engineer From IIT Bombay |
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Date of Appointment : |
01.09.2015 |
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DIN No.: |
00554221 |
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Other Directorship:
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Name : |
Mr. Krishnamurthi Venkataramanan |
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Designation : |
Director |
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Address : |
Varsha, Flat No.401 Janki Kutir, Juhu, Mumbai – 400049, Maharashtra, India |
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Date of Birth/Age : |
10.12.1944 |
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Date of Appointment : |
01.10.2015 |
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DIN No.: |
00001647 |
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Other Directorship:
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Name : |
Mr. Ramamurthi Shankar Raman |
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Designation : |
Director |
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Address : |
Room No. 123, 12th Floor, Kalpataru Royale, Plot No.110, Road No. 29, Sion (East), Mumbai – 400022, Maharashtra, India |
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Date of Birth/Age : |
20.12.1958 |
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Qualification: |
Qualified Chartered Accountant And A Graduate Of The Institute Of Cost And Works Accountants Of India. |
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Date of Appointment : |
12.08.2014 |
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DIN No.: |
00019798 |
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Other Directorship:
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Name : |
Mr. Vikram Singh Mehta |
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Designation : |
Director |
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Address : |
18, Friends Colony West, New Delhi – 110065, India |
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Date of Birth/Age : |
30.10.1952 |
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Date of Appointment : |
12.08.2014 |
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DIN No.: |
00041197 |
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Other Directorship:
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Name : |
Mr. Bhagyam Ramani |
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Designation : |
Director |
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Address : |
501, Anand Co-Operative Housing Society, Juhu Versova Link Road, Andheri (West), Mumbai – 400058, |
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Date of Birth/Age : |
09.01.1952 |
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Qualification: |
Post Graduate In Economics (Hons) From Bombay University With Specialisation In Industrial And Monetory Economics |
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Date of Appointment : |
01.09.2015 |
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DIN No.: |
00107097 |
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Other Directorship:
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Name : |
Mr. Sarthak Behuria |
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Designation : |
Director |
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Address : |
B-71, 7th Floor, The Pinnacle, DLF Phase-5, Gurugram – 122001, Haryana, India |
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Date of Birth/Age : |
02.03.1952 |
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Date of Appointment : |
12.08.2014 |
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DIN No.: |
03290288 |
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Other Directorship:
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Name : |
Mr. Thiruppathi Chinnappa |
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Designation : |
Director |
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Address : |
Plot No.8, 1st Main Road, Alwar Thirunagar Annexe, Chennai - 600087, Tamilnadu, India |
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Date of Appointment : |
17.08.2017 |
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DIN No.: |
05219775 |
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KEY EXECUTIVES
|
Name : |
Mr. Balasubramanyam Saastha Krishnamurthy |
|
Designation : |
Chief Financial Officer |
|
Address : |
Row House, 11 Mayfair Eleganza Phase 2, Nibm Road, Kondhwa Khurd, Pune – 411048, Maharashtra, India |
|
Date of Appointment : |
28.04.2017 |
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PAN No.: |
AIXPK9651L |
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Name : |
Ms. Alpana Shripad Khale |
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Designation : |
Company Secretary |
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Address : |
Ganesh Sadan, Maharashi Karve Road, Ghantoli, Thane – 400602, Maharashtra, India |
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Date of Birth/Age : |
01.12.1970 |
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Date of Appointment : |
19.08.2015 |
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PAN No.: |
ADCPD8724F |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
1000049994 |
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Subhodh Shetty jointly with Larsen and Toubro Limited |
|
1 |
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R. Shankar Raman jointly with Larsen and Toubro Limited |
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1 |
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N. Hariharan jointly with Larsen and Toubro Limited |
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1 |
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Y.V.S. Sravankumar jointly with Larsen and Toubro Limited |
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1 |
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R. Govindan jointly with Larsen and Toubro Limited |
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1 |
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Prasad V. Shanbhag jointly with Larsen and Toubro Limited |
|
1 |
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Total |
|
1000050000 |
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Names of Shareholders [10% Preference Shares] |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
500000000 |
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Total |
|
500000000 |
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Names of Shareholders [12% Preference Shares] |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
260000000 |
|
Total |
|
260000000 |
AS ON 17.08.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Bodies corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : [As On 31.03.2016] |
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Facilities : |
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Auditors : |
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Name : |
Sharp and Tannan Chartered Accountants |
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Address : |
Ravindra Annexe, 194, Churchgate Reclamation, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India |
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PAN No.: |
AAAFS2967E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: [As On 31.03.2016] |
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Subsidiary company: [As On 31.03.2016] |
[CIN NO.: U74140MH2008PTC177765] |
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Associates: [As On 31.03.2016] |
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Fellow Subsidiary
companies: [As On 31.03.2016] |
[CIN NO.: U72200TN2006PTC059421]
[CIN NO.: U67190TN2006PLC059527]
[CIN NO.: U74210MH1995PLC088099]
[CIN NO.U27109MH2009PTC193699]
[CIN NO.: U29119MH2006PTC165102]
[CIN NO.: U31101MH2006PTC166541]
[CIN NO.: U72900MH1996PLC104693]
[CIN NO.: U31401MH2010PTC204403]
[CIN NO.: U74140TN1998PLC039864]
[CIN NO.:U72900MH2012PLC232169]
|
CAPITAL STRUCTURE
AS ON 17.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
INR 10/- each |
INR 20000.000 Million |
|
1000000000 |
Preference Shares |
INR 10/- each |
INR 10000.000 Million |
|
|
Total |
|
INR 30000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000050000 |
Equity Shares |
INR 10/- each |
INR 10000.500 Million |
|
760000000 |
Preference Shares |
INR 10/- each |
INR 7600.000 Million |
|
|
Total |
|
INR 17600.500
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
17600.500 |
15000.500 |
15000.500 |
|
(b) Reserves and Surplus |
(4841.700) |
(6122.300) |
(194.100) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
12758.800 |
8878.200 |
14806.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
1486.000 |
2600.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
101.700 |
490.300 |
359.300 |
|
(d) long-term
provisions |
113.400 |
120.100 |
109.300 |
|
Total Non-current
Liabilities (3) |
215.100 |
2096.400 |
3068.600 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
6225.700 |
8588.500 |
7868.100 |
|
(b) Trade
payables |
20474.200 |
21797.400 |
27088.900 |
|
(c) Other current
liabilities |
15591.600 |
11955.700 |
9067.300 |
|
(d) Short-term
provisions |
998.000 |
784.600 |
839.700 |
|
Total Current
Liabilities (4) |
43289.500 |
43126.200 |
44864.000 |
|
|
|
|
|
|
TOTAL |
56263.400 |
54100.800 |
62739.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7924.600 |
8738.700 |
9176.000 |
|
(ii)
Intangible Assets |
22.200 |
31.500 |
19.800 |
|
(iii) Tangible assets
capital work-in-progress |
89.000 |
124.400 |
251.300 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2287.400 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
2863.800 |
3489.400 |
169.700 |
|
(d)
Long-term loans and advances |
1324.700 |
1092.000 |
1081.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
14511.700 |
13476.000 |
10697.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1092.900 |
414.900 |
210.300 |
|
(c) Trade
receivables |
17873.500 |
17323.500 |
21746.600 |
|
(d) Cash and
bank balances |
1196.700 |
1970.600 |
1871.100 |
|
(e)
Short-term loans and advances |
10626.200 |
8482.900 |
7269.100 |
|
(f) Other
current assets |
10962.400 |
12432.900 |
20944.100 |
|
Total
Current Assets |
41751.700 |
40624.800 |
52041.200 |
|
|
|
|
|
|
TOTAL |
56263.400 |
54100.800 |
62739.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
71112.400 |
57233.500 |
87159.000 |
|
|
Other Income |
110.900 |
173.500 |
8.900 |
|
|
TOTAL |
71223.300 |
57407.000 |
87167.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
25493.200 |
22813.900 |
31819.900 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(671.500) |
(28.100) |
267.500 |
|
|
Employee benefit expense |
6409.400 |
6053.600 |
6550.800 |
|
|
CSR expenditure |
38.300 |
6.600 |
0.000 |
|
|
Other expenses |
36884.400 |
36354.400 |
45471.300 |
|
|
TOTAL |
68153.800 |
65200.400 |
84109.500 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3069.500 |
(7793.400) |
3058.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
785.200 |
1175.700 |
419.600 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2284.300 |
(8969.100) |
2638.800 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1014.100 |
1054.400 |
1000.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1270.200 |
(10023.500) |
1638.300 |
|
|
|
|
|
|
|
Less |
TAX |
405.500 |
(3482.300) |
581.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
864.700 |
(6541.200) |
1057.300 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(5599.600) |
972.300 |
(0.100) |
|
|
|
|
|
|
|
Less |
Additional charge
to retained earnings on revision of useful life |
0.000 |
30.700 |
0.000 |
|
|
|
|
|
|
|
Less |
Proposed Dividend
including Dividend Distribution Tax |
0.000 |
0.000 |
84.900 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(4734.900) |
(5599.600) |
972.300 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
47115.900 |
34650.600 |
64311.000 |
|
|
TOTAL EARNINGS |
47115.900 |
34650.600 |
64311.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2153.300 |
650.400 |
576.800 |
|
|
Components and spare
parts |
3513.800 |
4327.800 |
2024.400 |
|
|
Capital Goods |
0.000 |
21.100 |
13.800 |
|
|
TOTAL IMPORTS |
5667.100 |
4999.300 |
2615.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
0.86 |
(6.54) |
0.97 |
|
|
Diluted |
0.55 |
(6.54) |
0.97 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
4151.100 |
2796.200 |
(690.100) |
|
Net cash flows from (used in) operating activities |
3636.900 |
2289.400 |
(1211.800) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
91.74 |
110.48 |
91.07 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
3.98 |
3.30 |
4.01 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
293.14 |
348.74 |
310.73 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.81 |
(18.78) |
14.54 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.38 |
(0.88) |
0.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.77 |
0.82 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.49 |
1.13 |
0.71 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.39 |
4.86 |
3.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.63 |
1.00 |
0.64 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.91 |
(6.63) |
7.29 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
1.22 |
(11.43) |
1.21 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.54 |
(12.09) |
1.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
6.78 |
(73.68) |
7.14 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.96 |
0.94 |
1.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.94 |
0.93 |
1.16 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.23 |
0.16 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.35 |
0.67 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.96 |
0.94 |
1.16 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
15000.500 |
15000.500 |
17600.500 |
|
Reserves & Surplus |
(194.100) |
(6122.300) |
(4841.700) |
|
Net
worth |
14806.400 |
8878.200 |
12758.800 |
|
|
|
|
|
|
Long-term borrowings |
2600.000 |
1486.000 |
0.000 |
|
Short term borrowings |
7868.100 |
8588.500 |
6225.700 |
|
Current maturities of long-term
debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
10468.100 |
10074.500 |
6225.700 |
|
Debt/Equity
ratio |
0.707 |
1.135 |
0.488 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
87159.000 |
57233.500 |
71112.400 |
|
|
|
(34.334) |
24.250 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
87159.000 |
57233.500 |
71112.400 |
|
Profit/ (Loss) |
1057.300 |
(6541.200) |
864.700 |
|
|
1.21
% |
(11.43
%) |
1.22
% |
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 |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
1486.000 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Commercial paper |
0.000 |
3970.400 |
|
Loans and advances from related parties |
5061.800 |
0.000 |
|
Other loans and advances |
419.700 |
3011.800 |
|
Total |
5481.500 |
8468.200 |
INDEX OF CHARGE:
|
S.NO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
C64607179 |
10591787 |
AXIS BANK LIMITED |
27/08/2015 |
- |
9500000000.0 |
12 MITTAL TOWER, 'A' WING, FIRST FLOOR, NARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
|
2 |
C57272098 |
10576556 |
ICICI BANK LIMITED |
13/06/2015 |
- |
21000000000.0 |
LANDMARK RACE COURCE CIRCLE, ALKAPURI, VADODARA – 390015, GUJARAT, INDIA |
|
3 |
C54369772 |
10570909 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
08/05/2015 |
- |
12000000000.0 |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI – 400001, MAHARASHTRA, INDIA |
|
4 |
G06483879 |
10536140 |
KOTAK MAHINDRA BANK LIMITED |
10/12/2014 |
08/06/2016 |
3000000000.0 |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI – 400051, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
0.000 |
0.000 |
|
Other money for which company is contingently liable |
309.500 |
239.400 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Equipment
·
Furniture and Fixture
·
Computer Equipment
·
Vehicles
·
Office Equipment
Intangible assets
- Computer 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 64.16 |
|
|
1 |
INR 78.75 |
|
Euro |
1 |
INR 89.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.