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|
MIRA
INFORM REPORT
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Report No. : |
491626 |
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Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
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Name : |
HUHTAMAKI PPL LIMITED (w.e.f. 27.05.2014) |
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Formerly Known
As : |
THE PAPER PRODUCTS LIMITED |
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Registered
Office : |
12A-06, B Wing, 13th Parinee Crescenzo, C-38/39, G Block,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra |
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Tel. No.: |
91-22-26531320 |
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Country : |
India |
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Financials (as
on) : |
31.12.2016 |
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Date of
Incorporation : |
12.06.1950 |
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Com. Reg. No.: |
11-145537 |
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Capital
Investment / Paid-up Capital : |
INR 145.433 Million |
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CIN No.: [Company Identification
No.] |
L21011MH1950FLC145537 |
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IEC No.: |
0588055816 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT09909E / NGPT00356G / NGPT01042G / PNET03852C |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACT0086E |
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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
: |
Manufacture and Sale of Flexible Packaging Material. [Registered
Activity] |
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No. of Employees
: |
3263 (Approximately) [AS ON 31.03.2016] |
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 |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 13500000 |
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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 Subject is a subsidiary of ‘Huhtamaki Oyj., Finland’. It was incorporated in 1950 and is engaged in manufacturing and selling of laminates and converted, coated/uncoated paper and films, cartons, moralized films and polyethylene films. It is an old and well-established company having fine track record. As per the quarterly financial record of June 2017, the company has decent revenue base and has achieved average profitability margin of 2.56%. Financial position of the company is sound and healthy characterized by its decent profitability, healthy capital structure, good liquidity position and strong debt protection metrics. Further, rating also takes into account of company’s long track record of the company, its group’s established marked position in the premium flexible packaging industry and strong support received from its holding company. The company has its share price trading at around INR 334.000 Million
on BSE as on February 12, 2018 as against the Face Value (FV) of INR 2. However, these rating strengths are partially offset by susceptibility
to volatility in raw material prices and limited pricing flexibility. Trade relations are fair. Business is active. Payment seem to be
regular and as per commitments. In view of strong financial base, strong parental support and
experienced promoters, the company can be considered 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
|
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 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL RATING |
|
Rating |
Long Term Loans = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
12.07.2017 |
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Rating Agency Name |
CRISIL RATING |
|
Rating |
Short Term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
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Date |
12.07.2017 |
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 12.02.2018.
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.: 91-22-26531320]
LOCATIONS
|
Registered Office / Corporate Office : |
12A-06, B Wing, 13th Parinee Crescenzo, C-38/39, G Block,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
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Tel. No.: |
91-22-26531320 / 61740400 |
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Fax No.: |
91-22-26531310 / 61740401 |
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E-Mail : |
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Website : |
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Central Headquarter/ Factory 1 : |
LBS Marg, Majiwada, Thane – 400601, Maharashtra, India |
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Tel. No.: |
91-22-21735591 / 5592 / 5593 / 5551 / 5552
/ 5553 |
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Fax No.: |
91-22-25340599 / 25427050 |
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Customer Support
Offices : |
#91, West Park Road, 17th Cross, Malleswaram, Bangalore – 560055 Karnataka, India Tel : 91-80-23568979/8980 Fax: 91-80-2296522
504/506, Ansal Chamber II, 6 Bhikaji Cama Palace, New Delhi – 110066, India Tel: 91-11-26194795/5641 Fax : 91-11-26194389
5th Floor, Laha Paint House, 7 Chittaranjan Avenue, Kolkata - 700072, West Bengal, India Tel: 91-33-22372812/2234 8281 Fax : 91-33-22255654
L.B.S. Marg Majiwade, Thane (West) – 400601, Maharashtra, India Tel : 91-22-21735551/21735591 Fax: 91-22-21735599/ 21735650
L.B.S. Marg Majiwade, Thane (West) 400601, Maharashtra, India Tel : + 91 22 21735551/21735591 Fax: + 91 22 21735599/ 21735650 |
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Manufacturing
Locations : |
Khasra No. 90/1, Village Amboli, Old Kasauli Road, Sec-4, Parwanoo 173220. Dist - Solan, Himachal Pradesh, India Tel: 91- 0179-2234038 / 039
Plot No. 70-73, Sector – 4, IIE Pantnagar, Rudrapur, Dist. U.S. Nagar, Rudrapur - 263 153, Uttarakhand, India Tel : 91-05944-250183/84/85 Fax: 91-05944-250186
Parcha Khaitan No.298, Plot No. 2276, West Pandam Block, Gangtok Sub-Division, Majhitar, Rangpo, East Sikkim, Gangtok - 737136, Sikkim. Tel: 91-9816064164
Village Abhaypur, Mouza Sila Sindurighopa, North Guwahati, Distt Kamrup (R) Assam – 781031, India Tel: 91-05944250183 Fax: 91-05944250186
Survey No 34, Hissa 1/3, At Post Umarkoi, via Silvassa, Dadra & Nagar Haveli (U.T.) 396 230 Silvassa, India Tel: 91-260- 2681005 , 2681009, Fax: 91-260-2681003
Unit I : 21/1, Chikhloli MIDC, Kalyan - Badlapur Road, Ambernath (West), Dist. Thane - 421 505, Maharashtra, India Tel : 91-251-2685300 Fax: 91-251-2683300 Unit II : B-84, Additional Ambernath MIDC, Anandnagar, Ambernath (East), Dist Thane - 421 506, Maharashtra, India Tel: 91-251-3081200 / 2621246 Fax: 91-251-2621978
L.B.S. Marg Majiwade, Thane (West) 400601, Maharashtra, India Tel : 91-22-21735551/21735591 Fax: 91-22-21735599/ 21735650
P.O. Box No. 55, Plot No. V_26, MIDC, Taloja Industrial Area, Taluka Panvel, Dist. Raigad - 410208, Maharashtra. Tel.: 91-22-39211600 Fax: 91-22-39211610
A-68 TTC Industrial Estate, Processing Zone, Mahape, Navi Mumbai – 400709, Maharashtra, India Tel: 91-22-2778 0303 Fax: 91-22-2778 0301
Village Ransai, KM. 16 Survey no 51, 52 & 53, Pen Road, Khopoli - 410 203, Maharashtra, India Tel: 91-2192391300 Fax: 91-2192391310
Unit I : 139 & 148, Sri Venkateshwara, Co-op. Indl. Estate, Bollarum - 502325, Medak District, Telangana, India Tel : 91-8458279628/616 Fax: 91-8458279464 Unit II : Plot No 172, Survey No 172, Bollarum, Village - 502325, Jinnaram Mandal, Medak District, Telangana, India Tel: +91-738200222
Plot Nos. 21, 22,23,152 & 153, Bommasandra - Jigani Link Road, Industrial Area, Taluka Anekal, Bengaluru - 562106, Karnataka, India. Tel.: 91-80-3056 5000 Fax: 91-80-3056 5100 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Suresh Gupta |
|
Designation : |
Chairman and
Managing Director |
|
Address : |
701, Samshiba, Saad Ali, Pali Hill, Bandra, Mumbai – 400050,
Maharashtra, India |
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Qualification : |
Master in Management (MMS) |
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Date of Appointment : |
20.03.1992 |
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DIN No.: |
00235354 |
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Name : |
Mr. Arunkumar R. Gandhi |
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Designation : |
Director |
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Address : |
Akruti Ashtha Building, 9th
Floor, 23 Dongerst Road, Mumbai – 400006, Maharashtra, India |
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Date of Appointment : |
30.02.2002 |
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DIN No.: |
00007597 |
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Name : |
Mr. Ramesh Kumar Dhir |
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Designation : |
Director |
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Address : |
121, Sunflower Apartments, G. D. Somani
Road, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Date of Appointment : |
30.03.2002 |
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DIN No.: |
00060141 |
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Name : |
Mr. Sarvadaman Krishnarao Palekar |
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Designation : |
Director |
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Address : |
Balakrishna 1st Floor, 16/64
Yeshwant Nagar, Goregaon (West), Mumbai – 400062, Maharashtra, India |
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Date of Appointment : |
27.04.2011 |
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DIN No.: |
01723670 |
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Name : |
Mr. Nripjit Singh Chawla |
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Designation : |
Director |
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Address : |
C-2/13, Vasant Vihar, New Delhi – 110057,
India |
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Date of Appointment : |
12.03.2013 |
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DIN No.: |
00105481 |
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Name : |
Mr. Sukanya Anand Kripalu |
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Designation : |
Director |
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Address : |
1703 / 17th Floor, Vivarea Tower B-1, Sane
Guruji Marg, Hindustan Spinning And Wire Compdr Mahalaxmi, Mumbai – 400011,
Maharashtra, India |
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Date of Appointment : |
17.03.2015 |
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DIN No.: |
06994202 |
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Name : |
Mr. Jukka Matias Moisio |
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Designation : |
Director |
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Address : |
Ankkurisaaremtie 15 A, 02160 Espoo 000000, Finland |
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Date of Appointment : |
23.04.2008 |
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DIN No.: |
02181396 |
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Name : |
Mr. Olli Pertti Koponen |
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Designation : |
Director |
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Address : |
Myllymaenkatu 19 13130 Hameeni, Inna
Finland |
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Date of Appointment : |
17.12.2015 |
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DIN No.: |
07370927 |
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Name : |
Mr. Venkatrangan Aravamudhan |
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Designation : |
Managing Director |
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Address : |
B-2, Regency Park, Edenwoods, Glady's
Alwares Marg, Thane – 400601, Maharashtra, India |
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Date of Appointment : |
04.06.2012 |
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DIN No.: |
05294659 |
KEY EXECUTIVES
|
Name : |
Mr. Dakshinamurthy Vishwanathan Iyer |
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Designation : |
Company Secretary |
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Address : |
C-901, Radha Govind, Radha Residency CHS
Limited, Siddharth Nagar, Off Western Express Highway, Borivali (East),
Mumbai – 400066, Maharashtra, India |
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Date of Appointment : |
06.08.2015 |
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PAN No.: |
AAAPI5586M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2017
|
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) |
|
|
(A) Promoter & Promoter Group |
5,00,03,997 |
66.21 |
|
|
(B) Public |
2,55,17,937 |
33.79 |
|
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Grand Total |
7,55,21,934 |
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 |
|
|
|
A2) Foreign |
0.00 |
|
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Any Other (specify) |
5,00,03,997 |
66.21 |
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|
Huhtavefa B V |
5,00,03,997 |
66.21 |
|
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Sub Total A2 |
5,00,03,997 |
66.21 |
|
|
A=A1+A2 |
5,00,03,997 |
66.21 |
|
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/ |
688355 |
0.91 |
|
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Foreign Portfolio Investors |
4242083 |
5.62 |
|
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Ntasain Discovery Master Fund |
3454300 |
4.57 |
|
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Financial Institutions/ Banks |
23553 |
0.03 |
|
|
Insurance Companies |
175000 |
0.23 |
|
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Sub Total B1 |
5128991 |
6.79 |
|
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B2) Central Government/ State Government(s)/ President of India |
0 |
0.00 |
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B3) Non-Institutions |
0 |
0.00 |
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Individual share capital upto Rs. 2 Lacs |
11292224 |
14.95 |
|
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Individual share capital in excess of Rs. 2 Lacs |
6098964 |
8.08 |
|
|
Amar Banasilal Chhajed |
1662958 |
2.20 |
|
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Deepak Bhagnani |
968148 |
1.28 |
|
|
NBFCs registered with RBI |
6581 |
0.01 |
|
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Any Other (specify) |
2991177 |
3.96 |
|
|
Shree Capital Services Limited |
925900 |
1.23 |
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Sub Total B3 |
20388946 |
27.00 |
|
|
B=B1+B2+B3 |
25517937 |
33.79 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Sale of Flexible Packaging Material. [Registered
Activity] |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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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 : |
3263 (Approximately) [AS ON 31.03.2016] |
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Bankers : |
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Facilities : |
(INR
In Million)
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Auditors : |
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Name : |
S. R Batliboi and Company LLP Chartered Accountants |
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Address : |
14th Floor, The Ruby 29, Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
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Tel. No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Huhtavefa B.V., Netherlands |
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Ultimate Parent Company : |
Huhtamaki Oyj., Finland |
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Subsidiary Company : |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
AFTER 31.12.2016
Authorised Capital : INR 1128.000 Million
Issued, Subscribed & Paid-up Capital : INR 151.044
Million
AS ON 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
404000000 |
Equity Shares |
INR 2/- each |
INR 808.000 Million |
|
2900000 |
Preference Shares |
INR 100/- each |
INR 290.000 Million |
|
300000 |
Unclassiied Shares |
INR 100/- each |
INR 30.000 Million |
|
|
Total |
|
INR 1128.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72711934 |
Equity Shares |
INR 2/- each |
INR 145.424 Million |
|
|
|
|
|
|
|
Total |
|
INR 145.424
Million |
a Reconciliation of
the shares outstanding at the beginning and at the end of the reporting period.
|
Particular |
31.12.2016 |
|
|
No. of Shares |
INR In Million |
|
|
At the beginning of the period |
72711934 |
145.424 |
|
Add: Issued during the year |
-- |
-- |
|
Outstanding at the
end of the period |
72711934 |
145.424 |
b Terms / Rights attached to equity shares.
The company has only one class of Issued, Subscribed and Paid-up Equity Capital having a par value of INR 2/- per share. Each holder of equity share 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 the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended 31st December 2016, the amount of per share dividend recognised as distributions to equity shareholders is INR 3.00 (31 December 2015 : INR 2.80)
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets
of the Company, after distribution of all Preferential amounts. The distribution will be in proportion to the number
of equity shares held by the shareholders.
c Shares held by
holding company
Out of equity shares
issued by the company, shares held by its holding company are as follows :
|
Equity shares of
INR 2/- each fully paid up |
31.12.2016 |
|
|
No. of Shares |
% Of Holding in the class |
|
|
Huhtavefa B.V., Netherlands,The Holding Company |
50003997 |
68.77% |
|
HDFC Trustee Company Limited (A/c HDFC Midcap Opportunities Fund) |
3880725 |
5.34% |
|
|
|
|
As per the records of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
145.433 |
145.433 |
145.433 |
|
(b) Share Suspense
Account |
5.620 |
0.000 |
0.000 |
|
(c) Reserves &
Surplus |
4587.372 |
5723.155 |
5489.316 |
|
(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) |
4738.425 |
5868.588 |
5634.749 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4082.066 |
3998.023 |
172.951 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
23.664 |
35.085 |
|
(c) Other long term
liabilities |
1.991 |
354.005 |
0.000 |
|
(d) long-term provisions |
84.919 |
7.397 |
9.598 |
|
Total Non-current
Liabilities (3) |
4168.976 |
4383.089 |
217.634 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1.754 |
0.000 |
0.000 |
|
(b) Trade payables |
3257.908 |
1526.526 |
1561.092 |
|
(c) Other current
liabilities |
1527.673 |
718.727 |
319.540 |
|
(d) Short-term provisions |
568.174 |
379.082 |
353.186 |
|
Total Current Liabilities
(4) |
5355.509 |
2624.335 |
2233.818 |
|
|
|
|
|
|
TOTAL |
14262.910 |
12876.012 |
8086.201 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4440.750 |
1814.092 |
2001.013 |
|
(ii) Intangible Assets |
126.779 |
48.288 |
28.443 |
|
(iii) Capital
work-in-progress |
19.874 |
33.571 |
57.287 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.003 |
5480.650 |
387.913 |
|
(c) Deferred tax assets
(net) |
31.375 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
424.070 |
156.563 |
199.318 |
|
(e) Other Non-current
assets |
0.468 |
0.073 |
2.473 |
|
Total Non-Current Assets |
5043.319 |
7533.237 |
2676.447 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1950.166 |
2066.262 |
1863.378 |
|
(b) Inventories |
1825.005 |
833.834 |
940.859 |
|
(c) Trade receivables |
4627.909 |
2174.844 |
2183.902 |
|
(d) Cash and cash
equivalents |
310.972 |
110.305 |
115.841 |
|
(e) Short-term loans and
advances |
218.232 |
66.004 |
152.727 |
|
(f) Other current assets |
287.307 |
91.526 |
153.047 |
|
Total Current Assets |
9219.591 |
5342.775 |
5409.754 |
|
|
|
|
|
|
TOTAL |
14262.910 |
12876.012 |
8086.201 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
21777.855 |
11509.699 |
11352.192 |
|
|
|
|
Other Income |
172.286 |
127.264 |
92.282 |
|
|
|
|
TOTAL |
21950.141 |
11636.963 |
11444.474 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
14728.474 |
8009.441 |
8287.919 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(57.447) |
(10.378) |
(52.820) |
|
|
|
|
Employee Benefits Expenses |
1925.064 |
975.483 |
840.607 |
|
|
|
|
Other Expenses |
2710.474 |
1332.408 |
1260.298 |
|
|
|
|
Exceptional Items |
25.500 |
0.000 |
(62.753) |
|
|
|
|
TOTAL |
19332.065 |
10306.954 |
10273.251 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2618.076 |
1330.009 |
1171.223 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
333.061 |
251.740 |
2.176 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2285.015 |
1078.269 |
1169.047 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
909.766 |
393.475 |
355.438 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
1375.249 |
684.794 |
813.609 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
523.753 |
193.700 |
167.404 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
851.496 |
491.094 |
646.205 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2380.069 |
2375.675 |
2038.370 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
88.700 |
49.200 |
64.600 |
|
|
|
|
Dividend |
192.500 |
245.000 |
244.300 |
|
|
|
|
Tax on Dividend |
278.400 |
192.500 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
2671.965 |
2380.069 |
2375.675 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
F.O.B. Value of Exports |
5212.699 |
2082.908 |
2080.511 |
|
|
|
TOTAL EARNINGS |
5212.699 |
2082.908 |
2080.511 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
4418.597 |
1860.241 |
2005.248 |
|
|
|
|
Stores & Spares |
68.810 |
18.199 |
25.412 |
|
|
|
|
Capital Goods |
52.405 |
66.201 |
515.789 |
|
|
|
TOTAL IMPORTS |
4539.812 |
1944.641 |
2546.449 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
11.27 |
6.75 |
6.75 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
278.964 |
24.929 |
42.134 |
|
Cash generated from operations |
2292.672 |
1547.709 |
1048.266 |
|
Net cash flows from (used in) operations |
1664.311 |
1357.370 |
898.422 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average
Collection Days (Sundry Debtors /
Income * 365 Days) |
77.56 |
68.97 |
70.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.71 |
5.29 |
5.20 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
80.74 |
69.57 |
68.75 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.43 |
1.60 |
1.24 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.57 |
0.70 |
0.56 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.66 |
0.51 |
0.30 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.86 |
0.68 |
0.03 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.13 |
0.45 |
0.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.97 |
0.32 |
0.37 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.86 |
5.28 |
538.25 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.91 |
4.27 |
5.69 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.97 |
3.81 |
7.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.97 |
8.37 |
11.47 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current Assets /
Current Liabilities) |
1.72 |
2.04 |
2.42 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.38 |
1.72 |
2.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.33 |
0.46 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
28.08 |
27.49 |
1.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.72 |
2.04 |
2.42 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 334.00/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
145.433 |
145.433 |
145.433 |
|
Share Suspense Account |
5.620 |
0.000 |
0.000 |
|
Reserves & Surplus |
5489.316 |
5723.155 |
4587.372 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5640.369 |
5868.588 |
4732.805 |
|
|
|
|
|
|
long-term borrowings |
172.951 |
3998.023 |
4082.066 |
|
Short term borrowings |
0.000 |
0.000 |
1.754 |
|
Current Maturities of
Long term debt |
42.134 |
24.929 |
278.964 |
|
Total borrowings |
215.085 |
4022.952 |
4362.784 |
|
Debt/Equity ratio |
0.038 |
0.686 |
0.922 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
11352.192 |
11509.699 |
21777.855 |
|
|
|
1.387 |
89.213 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
11352.192 |
11509.699 |
21777.855 |
|
Profit |
646.205 |
491.094 |
851.496 |
|
|
5.69% |
4.27% |
3.91% |
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.12.2016 |
As
on 31.12.2015 |
|
LONG TERM
BORROWING |
|
|
|
7% Unsecured Non-Convertible Debentures of INR 10 lacs each |
3850.000 |
3850.000 |
|
Deferred Sales Tax Loan - Telangana |
119.202 |
148.023 |
|
Deferred Sales Tax Loan - Maharashtra |
7.120 |
0.000 |
|
|
|
|
|
Total |
3976.322 |
3998.023 |
CONTINGENT
LIABILITIES:
(INR
In Million)
|
Particulars |
31.12.2016 |
31.12.2015 |
|
A. Excise Duty |
|
|
|
Matters in Appeal – Duty |
61.503 |
51.811 |
|
-- Penalties |
44.157 |
41.887 |
|
Show cause notices – Duty |
2.598 |
4.473 |
|
B. Service tax |
|
|
|
Show cause notices--Service Tax |
1.801 |
7.271 |
|
Matters in Appeal -- Service Tax |
8.132 |
0.000 |
|
--Penalties |
5.305 |
1.292 |
|
-- Custom Duty |
2.123 |
0.000 |
|
C. Income Tax
Demands in Appeal |
129.377 |
25.775 |
|
D. Sales tax
demands in Appeal |
10.673 |
9.134 |
|
D. Claims against
the company not acknowledged as debts |
6.518 |
6.518 |
INDEX OF CHARGE:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C29053998 |
10525318 |
SBICAP TRUSTEE COMPANY LIMITED |
04/10/2014 |
- |
- |
3251200000.0 |
Apeejay House, 6th Floor,3, Dinshaw Wachha Road, Churchgate, MumbaiMUMBAIMH400020IN |
|
2 |
C39580840 |
80060052 |
PUNJAB & SIND BANK |
18/02/1989 |
06/02/2001 |
08/01/2015 |
279000000.0 |
FORT BRANCHMUMBAIMH400023IN |
|
3 |
C39416854 |
80060051 |
PUNJAB & SIND BANK |
22/09/1995 |
06/02/2001 |
08/01/2015 |
80000000.0 |
FORT BRANCHMUMBAIMH400023IN |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30TH SEPTEMBER 2017
(INR In Million)
|
Sr. No. |
Particulars |
Quarter Ended |
Quarter Ended |
Nine Months Ended |
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
Part I |
|
|
|
|
|
1. |
Income from
Operations |
|
|
|
|
|
a)
Net Sales / Income from Operations |
5385.000 |
5510.300 |
16454.800 |
|
|
b)
Other Operating Income |
79.200 |
81.500 |
223.000 |
|
|
Total
Income from Operations (net) |
5464.200 |
5591.800 |
16677.800 |
|
2. |
Other Income |
16.900 |
33.500 |
105.500 |
|
3. |
Total
Income |
5481.100 |
5625.300 |
16783.300 |
|
|
|
|
|
|
|
4. |
Expenditure |
|
|
|
|
|
a)
Cost of materials consumed |
3500.200 |
3599.800 |
10549.600 |
|
|
b)
Purchase of stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
122.400 |
(148.000) |
(30.100) |
|
|
d) Excise Duty |
0.000 |
484.000 |
987.400 |
|
|
d)
Employee benefits expense |
550.300 |
524.400 |
1560.400 |
|
|
f)
Finance Cost |
79.200 |
84.800 |
249.300 |
|
|
g) Depreciation and amortisation expense |
213.600 |
221.000 |
640.900 |
|
|
h)
Other expenses |
661.200 |
718.200 |
2023.500 |
|
|
i)Foreign
Exchange Loss/ (Gain) |
(7.500) |
(0.100) |
6.400 |
|
|
Total Expenses |
5119.400 |
5484.100 |
15987.400 |
|
5. |
Profit/ (Loss) from
Operations before and Exceptional items and Tax |
361.700 |
141.200 |
795.900 |
|
6. |
Exceptional Items |
-- |
-- |
-- |
|
7. |
Profit from Operation
before tax (5-6) |
361.700 |
141.200 |
795.900 |
|
8. |
Tax Expenses |
|
|
|
|
|
Provision for – Current
tax |
177.900 |
80.900 |
385.700 |
|
|
Deferred tax |
(7.500) |
(12.000) |
(16.600) |
|
9. |
Profit for the
Period |
191.300 |
72.300 |
426.800 |
|
10. |
Other Comprehensive Income |
|
|
|
|
|
Other Comprehensive Income / (Expenses) not
to be reclassified to Profit and Loss |
-- |
-- |
61 |
|
|
Re-measurement gains/(losses) on defined
benefit plans income tax effect |
-- |
-- |
(21) |
|
|
OCI (Net of Tax) |
|
|
40 |
|
|
|
|
|
|
|
11. |
Total Comprehensive Income (9-10) |
191.300 |
72.300 |
430.800 |
|
12. |
Paid Up Share Capital |
151.000 |
151.000 |
151.000 |
|
13. |
Earnings per share of INR 2 each |
|
|
|
|
|
Basic and Diluted EPS |
2.53 |
0.96 |
5.65 |
STANDALONE STATEMENT
OF ASSETS AND LIABILITIES
|
Particulars |
As at 30.06.2017 UNAUDITED |
|
|
|
Particulars |
|
|
A |
ASSET |
|
|
1 |
Non-current
Asset |
|
|
|
a)
Property, plant and equipment |
4416.700 |
|
|
b)
Capital work-in-progress |
169.400 |
|
|
c)
Goodwill |
96.900 |
|
|
d)
Other Intangible Assets |
24.400 |
|
|
e)
Financial Assets |
|
|
|
i)
Loans |
85.600 |
|
|
ii)
Other financial assets |
0.800 |
|
|
e)
Deferred tax assets |
139.600 |
|
|
f)
Non-current Tax Assets (Net) |
39.300 |
|
|
g)
Other non-current assets |
221.300 |
|
|
Total Non-current Asset |
5194.000 |
|
|
|
|
|
2 |
Current
Asset |
|
|
|
(a)
Inventories |
2322.300 |
|
|
(b)
Financial Assets |
|
|
|
i)
Investment |
1727.200 |
|
|
ii)
Trade receivable |
4429.100 |
|
|
iii)
Cash and cash equivalents |
266.200 |
|
|
iv)
Bank balance other than (iii) above |
3.900 |
|
|
v)
Loans |
23.800 |
|
|
vi)
Other financial assets |
1.700 |
|
|
(c)
Other Current Assets |
564.100 |
|
|
Total
Current Assets |
9338.300 |
|
|
Total
Assets |
14532.300 |
|
|
|
|
|
B
|
Equity
and Liabilities |
|
|
1. |
Equity |
|
|
|
a) Equity |
|
|
|
Equity Share Capital |
151.000 |
|
|
Share Suspense Account |
0.000 |
|
|
b) Other Equity |
4858.500 |
|
|
Total
Equity |
5009.500 |
|
|
|
|
|
2 |
Liabilities
|
|
|
|
Non-current
liabilities |
|
|
|
(a)
Financial liabilities |
|
|
|
i)
Borrowings |
3941.700 |
|
|
ii)
Other financial liabilities |
9.500 |
|
|
(b)
Provision |
43.100 |
|
|
(c)
Employee benefit obligation |
0.000 |
|
|
(d)
Other non-current assets |
122.500 |
|
|
Total
Non-current assets |
4116.800 |
|
|
|
|
|
|
Current
liabilities |
|
|
|
a)
Financial Liabilities |
|
|
|
i)Borrowings |
32.100 |
|
|
ii) Trade Payables |
3509.400 |
|
|
iii) Other Financial
Liabilities |
1367.200 |
|
|
b) Other current liabilities |
125.900 |
|
|
c) Provisions |
170.200 |
|
|
d) Current tax liabilities |
201.200 |
|
|
Total
Current Liabilities |
5406.000 |
|
|
Total
Liabilities |
9522.800 |
|
|
Total
Equity and Liabilities |
14532.300 |
FIXED ASSETS:
·
Land
·
Building
·
Machinery
·
Computer
·
Vehicles
·
Furniture and fixture
·
Office equipment
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
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
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.