|
|
|
MIRA INFORM REPORT
|
Report No. : |
492579 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
DILIP BUILDCON LIMITED (w.e.f. 26.08.2010) |
|
|
|
|
Formerly Known
As : |
DILIP BUILDCON PRIVATE LIMITED |
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|
|
|
Registered Office
: |
Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, Kolar
Road, Bhopal – 462016, Madhya Pradesh |
|
Tel. No.: |
91-755-4029997 |
|
|
|
|
Country : |
|
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|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.06.2006 |
|
|
|
|
Com. Reg. No.: |
10-018689 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1367.698 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45201MP2006PLC018689 |
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|
|
|
IEC No.: |
1107003156 |
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|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCD6124B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
The
company is presently in the business of development of infrastructure
facilities on Engineering Procurement and Construction basis (EPC) and
undertakes contract from various Government and other parties and special
purpose vehicles promoted by the Company. [Registered Activity] |
|
|
|
|
No. of Employees
: |
25290 (Approximately) |
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 53000000 |
|
|
|
|
Status : |
Excellent |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2006. It is engaged in road
construction on an EPC basis and road development on a BOT basis. As per the financial records of 2017, the company has achieved satisfactory
growth of 24.78% in its revenue as compared to the previous year revenue and
has earned fair profitability margin of 7.08%. The company possesses strong financial position marked by sound net
worth base along with comfortable debt level and adequate liquidity position. Rating takes into consideration the equity infused by its promoters. Rating also takes into consideration the company’s favourable Earnings
Per Share (EPS) of INR 27.81 as against its Face Value (FV) of INR 10. The company has its share price trading at around INR 960 on BSE as on
February 16, 2017 as against the Face Value (FV) of INR 10. Business is active. Payment seems to be usually correct. In view of healthy financial position of the company, it can be
considered good 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= A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
29.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans= A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
29.11.2017 |
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 16.02.2018
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 (91-755-4029999)
91-755-4029997 - Continuously Ringing.
LOCATIONS
|
Registered / Corporate Office : |
Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, Kolar
Road, Bhopal – 462016, Madhya Pradesh, India |
|
Tel. No.: |
91-755-4029997 / 4029999 |
|
Fax No.: |
91-755-4029998 |
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E-Mail : |
|
|
|
|
|
Site Office : |
Pratapgarh Padi Road Project, Village Kataro Ka Khera, Post:
Shuhagpura Tehsil Pipal Khut, Pratapharh – 312605, Rajasthan, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dilip Suryavanshi |
|
Designation : |
Managing Director |
|
Address : |
E-5/90, Arera Colony, Bhopal – 462016, Madhya
Pradesh, India |
|
Date of Birth/Age : |
12.10.1956 |
|
Qualification : |
B.E. (Civil), M.I.E. |
|
Date of Appointment : |
12.06.2006 |
|
DIN No.: |
00039944 |
|
PAN No.: |
ANRPS2215H |
|
|
|
|
Name : |
Mrs. Seema Suryavanshi |
|
Designation : |
Whole-time director |
|
Address : |
E-5/90, Arera Colony, Bhopal – 462016, Madhya
Pradesh, India |
|
Date of Birth/Age : |
07.11.1961 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
26.08.2010 |
|
DIN No.: |
00039946 |
|
PAN No.: |
ANQPS9773H |
|
|
|
|
Name : |
Mr. Aditya Vijay Singh |
|
Designation : |
Director |
|
Address : |
59-60, Amrapali Enclave Chunabhatti, Bhopal
– 462016, Madhya Pradesh, India |
|
Date of Birth/Age : |
23.10.1944 |
|
Qualification : |
B. Sc. |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03585519 |
|
|
|
|
Name : |
Mr. Satish Chandra Pandey |
|
Designation : |
Director |
|
Address : |
B-270, Shahpura, Bhopal – 462016, Madhya Pradesh, India |
|
Date of Birth/Age : |
76 Years |
|
Qualification : |
B.E. (Civil) M.I.E |
|
Date of Appointment : |
23.01.2015 |
|
DIN No.: |
07072768 |
|
|
|
|
Name : |
Mr. Amogh Kumar Gupta |
|
Designation : |
Director |
|
Address : |
Plot No. 15, Amaltas Phase-I, Chunabhatti, Bhopal – 462016, Madhya Pradesh, India |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
M. Tech |
|
Date of Appointment : |
25.09.2014 |
|
DIN No.: |
06941839 |
|
|
|
|
Name : |
Mr. Ashwini Verma |
|
Designation : |
Director |
|
Address : |
B-57 New Krishi Nagar Janki Nagar, Chunabhatti, Bhopal – 462016, Madhya Pradesh, India |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
Diploma in Civil Eng. |
|
Date of Appointment : |
05.08.2014 |
|
DIN No.: |
06939756 |
|
|
|
|
Name : |
Mr. Vijay Chhibber |
|
Designation : |
Director |
|
Address : |
Flat No. 504, Tower No. 25, Commonwealth Games
Village, Near Akshardh Am Temple, New Delhi – 110092, India |
|
Date of Appointment : |
28.02.2017 |
|
DIN No.: |
00396838 |
|
|
|
|
Name : |
Mr. Devendra Jain |
|
Designation : |
Wholetime Director |
|
Address : |
H No 15, Paras Majestic Gulmohar, E-8, Bhopal
– 462039, Madhya Pradesh, India |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
02374610 |
KEY EXECUTIVES
|
Name : |
Mr. Devendra Jain |
|
Designation : |
Chief Executive Officer |
|
Address : |
H No 15, Paras Majestic Gulmohar, E-8, Bhopal
– 462039, Madhya Pradesh, India |
|
Date of Appointment : |
25.11.2014 |
|
PAN No.: |
ADSPJ6795Q |
|
|
|
|
Name : |
Mr. Vaibhav Rawat |
|
Designation : |
Chief Financial Officer |
|
Address : |
M-225, Gautam Nagar, Bhopal – 462023, Madhya
Pradesh, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AFNPR3499G |
|
|
|
|
Name : |
Mr. Abhishek Shrivastava |
|
Designation : |
Company Secretary |
|
Address : |
House No. 15, Janki Parisar, Kolar Road,
Bhopal – 462042, Madhya Pradesh, India |
|
Date of Appointment : |
23.01.2015 |
|
PAN No.: |
AUXPS3081Q |
SHAREHOLDING PATTERN
AS ON December 2017
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
103441368 |
75.63 |
|
(B) Public |
33328400 |
24.37 |
|
Grand Total |
136769768 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
Individuals/Hindu undivided Family |
103441265 |
75.63 |
|
Dilip Suryavanshi |
55673487 |
40.71 |
|
Seema Suryavanshi |
11904200 |
8.70 |
|
Devendra Jain |
35863572 |
26.22 |
|
Dilip Suryavanshi HUF |
3 |
0.00 |
|
Karan Suryavanshi |
3 |
0.00 |
|
Any Other (specify) |
103 |
0.00 |
|
Suryavanshi Family Trust |
100 |
0.00 |
|
Suryavanshi Minerals Private Limited |
3 |
0.00 |
|
Sub Total A1 |
103441368 |
75.63 |
|
A=A1+A2 |
103441368 |
75.63 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No. of
Shares |
Percentage
of Holding |
|
Mutual Funds/ |
6888499 |
5.04 |
|
HDFC Trustee
Company Limited - HDFC Prudence Fund |
2212047 |
1.62 |
|
Foreign Portfolio
Investors |
15810045 |
11.56 |
|
East Bridge
Capital Master Fund Limited |
3967171 |
2.90 |
|
Abu Dhabi
Investment Authority - Behave |
2770044 |
2.03 |
|
Legato Capital
Management Investments LLC |
1460341 |
1.07 |
|
Financial
Institutions/ Banks |
41496 |
0.03 |
|
Sub Total B1 |
22740040 |
16.63 |
|
Individual share
capital upto INR 0.200 million |
3119745 |
2.28 |
|
Individual share
capital in excess of INR 0.200 million |
2791082 |
2.04 |
|
Any Other
(specify) |
4677533 |
3.42 |
|
HUF |
221172 |
0.16 |
|
NRI – Non- Repat |
33293 |
0.02 |
|
NRI – Repat |
197284 |
0.14 |
|
Clearing Members |
408645 |
0.30 |
|
Bodies Corporate |
3817139 |
2.79 |
|
Sub Total B3 |
10588360 |
7.74 |
|
B=B1+B2+B3 |
33328400 |
24.37 |
BUSINESS DETAILS
|
Line of Business : |
The
company is presently in the business of development of infrastructure facilities
on Engineering Procurement and Construction basis (EPC) and undertakes
contract from various Government and other parties and special purpose
vehicles promoted by the Company. [Registered Activity] |
||||
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Products / Services
: |
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||||
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||||
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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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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
No. of Employees : |
25290 (Approximately) |
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|
Bankers : |
·
Allahabad
Bank ·
Bank
of Baroda ·
Bank
of India ·
Bank
of Maharashtra ·
Canara
Bank ·
Corporation
Bank ·
Central
Bank of India ·
Dena
Bank ·
ICICI
Bank Limited ·
IDBI
Bank Limited ·
Punjab
National Bank ·
Indian
Overseas Bank ·
State
Bank of India ·
Syndicate
Bank ·
Lakshmi
Vilas Bank ·
United
Bank of India ·
UCO
Bank ·
Oriental
Bank of Commerce ·
Andhra
Bank ·
Union
Bank of India ·
The
Jammu and Kashmir Bank Limited |
||||||||||||||||||||||||||||||||||||
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|
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|
Facilities : |
|
|
Auditors 1 : |
|
|
Name : |
Mukund M. Chitale and Company Chartered Accountants |
|
Address : |
2nd Floor, Kapur
House, Paranjape B Scheme Road No. 1, Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Naresh Rajani and Company Chartered Accountants |
|
Address : |
MIG-1/5, 1st Floor, Amber
Complex, Zone-II, M. P. Nagar, Bhopal – 462011, Madhya Pradesh, India |
|
|
|
|
Secretarial Auditor
: |
|
|
Name : |
Piyush Bindal and Associates Company Secretaries |
|
Address : |
S-12, IInd Floor, Gurukripa Plaza,
Zone-II I M. P. Nagar, Bhopal – 462011, Madhya Pradesh, India |
|
Mobile No.: |
91-9425022881 |
|
|
|
|
Cost Auditor : |
|
|
Name : |
Yogesh Chourasia and Associates Cost Accountants |
|
Address : |
R-73,
Zone-II, M.P Nagar, Bhopal, Madhya Pradesh, India |
|
Mobile No.: |
91-9826064423 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies : |
·
DBL
Ashoknagar-Vidisha Tollways Limited ·
DBL
Bankhlafata Dongawa Tollways Limited ·
DBL
Jaora Sailana Tollways Limited ·
DBL
Mundi Sanawad Tollways Limited ·
DBL
Nadiad Modasa Tollways Limited ·
DBL
Sardarpur Badnawar Tollways Limited ·
DBL
Silwani Sultanganj Tollways Limited ·
DBL
Sitamau Suwasara Tollways Limited ·
DBL
Uchera Nagod Tollways Limited ·
DBL
Betul Sarni Tollways Limited · DBL Tikamgarh Nowgaon Tollways Limited · Suryavanshi Infrastructure Private Limited ·
DBL
Hata Dargawon Tollways Limited ·
DBL
Patan Rehli Tollways Limited ·
Jalpa
Devi Tollways Limited ·
DBL
Hassan Periyapatna Tollways Limited ·
DBL
Hirekerur Ranibennur Tollways Limited ·
DBL
Mundargi Harapanahalli Tollways Limited ·
DBL
Lucknow Sultanpur Highways Limited ·
DBL
Tuljapur Ausa Highways Limited ·
DBL
Kalmathzarap Highways Limited ·
Bhavya
Infra and Systems Private Limited · Jalpa Devi Engineering Private Limited |
|
|
|
|
Entities with whom reporting entity has Joint Operations : |
·
Dilip
Buildcon-Varah Infra Limited (JV) ·
Dilip
Buildcon-MBZ JV ·
DBL-DECO
JV ·
Dilip
Buildcon Limited and Ranjit Buildcon Limited JV ·
Valecha
Dilip JV |
|
|
|
|
Other Related Parties : |
·
Shree
Vinayak Enterprises and Properties ·
Highfly
Airlines Private Limited ·
B.S.
Associates ·
DBL
Employee VBF Fund Trust |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160000000 |
Equity Shares |
INR 10/- each |
INR 1600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
136769768 |
Equity Shares |
INR 10/- each |
INR 1367.698 Million |
|
|
|
|
|
a)
Terms/rights
attached to equity shares
i.
The
Company has one class of shares referred to as Equity Shares having face values
of INR 10/- each.
ii.
Out
of issued, subscribed and paid up Equity Shares 70476264 Equity Shares were
allotted as Bonus Shares by capitalization of Security Premium and Surplus
during last five years.
b) Reconciliation of the no. of shares and
amounts outstanding at the beginning and at the end of the reporting period:
|
Particulars |
Number of Shares |
Amount in Million |
|
At the beginning of the period |
117135065 |
1171.351 |
|
Fresh Issue |
19634703 |
196.347 |
|
Outstanding
at the end of the period |
136769768 |
1367.698 |
c) Details of shareholders holding more than
5% shares in the Company
|
Particulars |
Number
of Shares |
% holding |
|
Equity
shares of INR 10/- each fully paid |
|
|
|
Mr. Dilip Suryavanshi |
55673487 |
40.71% |
|
Mrs. Seema Suryavanshi |
11904200 |
8.70% |
|
Mr. Devendra Jain |
35863572 |
26.22% |
|
Banyantree
Growth Capital, L.L.C. |
-- |
-- |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1367.698 |
1171.351 |
1171.351 |
|
(b) Reserves & Surplus |
17161.226 |
9449.833 |
7556.557 |
|
(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) |
18528.924 |
10621.184 |
8727.908 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6325.006 |
7151.333 |
5462.971 |
|
(b) Deferred tax liabilities (Net) |
758.897 |
774.793 |
707.196 |
|
(c) Other long term
liabilities |
3937.364 |
2212.117 |
2144.285 |
|
(d) long-term
provisions |
220.478 |
135.740 |
86.783 |
|
Total Non-current
Liabilities (3) |
11241.745 |
10273.983 |
8401.235 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
15731.413 |
14910.477 |
14127.927 |
|
(b) Trade
payables |
8885.814 |
10231.888 |
8278.030 |
|
(c) Other
current liabilities |
12021.523 |
6733.210 |
5957.943 |
|
(d) Short-term
provisions |
83.659 |
66.578 |
56.642 |
|
Total Current
Liabilities (4) |
36722.409 |
31942.153 |
28420.542 |
|
|
|
|
|
|
TOTAL |
66493.078 |
52837.320 |
45549.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
16784.879 |
14175.542 |
11875.341 |
|
(ii)
Intangible Assets |
39.802 |
28.374 |
14.689 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4695.403 |
2898.180 |
2789.180 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
2629.421 |
|
(e) Other
Non-current assets |
5071.905 |
2849.525 |
1193.534 |
|
Total Non-Current
Assets |
26591.989 |
19951.621 |
18502.165 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
9476.229 |
|
(b) Inventories |
16638.585 |
15803.471 |
12636.475 |
|
(c) Trade
receivables |
10165.224 |
9118.560 |
2341.887 |
|
(d) Cash
and cash equivalents |
1136.972 |
1059.314 |
2592.929 |
|
(e)
Short-term loans and advances |
2112.692 |
886.482 |
0.000 |
|
(f) Other current
assets |
9847.616 |
6017.872 |
0.000 |
|
Total
Current Assets |
39901.089 |
32885.699 |
27047.520 |
|
|
|
|
|
|
TOTAL |
66493.078 |
52837.320 |
45549.685 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
50976.248 |
40853.243 |
26241.005 |
|
|
|
Other Income |
114.466 |
157.392 |
60.434 |
|
|
|
TOTAL |
51090.714 |
41010.635 |
26301.439 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Construction |
23389.096 |
20166.417 |
12589.684 |
|
|
|
Changes in Inventories |
14540.456 |
9838.442 |
6750.859 |
|
|
|
Employee Benefits Expenses |
1024.983 |
873.371 |
347.015 |
|
|
|
Other Expenses |
2099.207 |
1982.523 |
897.963 |
|
|
|
TOTAL |
41053.742 |
32860.753 |
20585.521 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
10036.972 |
8149.882 |
5715.918 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4162.373 |
3813.979 |
2652.954 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5874.599 |
4335.903 |
3062.964 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2273.929 |
1834.884 |
1179.341 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
3600.670 |
2501.019 |
1883.623 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(8.758) |
292.979 |
510.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
3609.428 |
2208.040 |
1373.572 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (INR) |
27.81 |
18.85 |
12.84 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3577.704 |
3052.423 |
2314.577 |
|
Cash generated from operations |
7372.037 |
4856.980 |
2903.764 |
|
Net cash generated from operating activities |
6537.114 |
4267.706 |
2294.170 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
16640.850 |
15817.920 |
19421.190 |
|
Total Expenditure |
13638.610 |
12964.770 |
15974.180 |
|
PBIDT (Excluding Other Income) |
3002.240 |
2853.150 |
3447.010 |
|
Other income |
26.530 |
31.330 |
56.490 |
|
Operating Profit |
3028.770 |
2884.480 |
3503.500 |
|
Interest |
1106.290 |
1110.450 |
1167.970 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
1922.470 |
1774.030 |
2335.530 |
|
Depreciation |
650.730 |
675.860 |
697.520 |
|
Profit Before Tax |
1271.740 |
1098.170 |
1638.010 |
|
Tax |
45.340 |
(57.860) |
(8.980) |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
1226.400 |
1156.030 |
1646.990 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
1226.400 |
1156.030 |
1646.990 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
72.79 |
81.47 |
32.57 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.01 |
4.48 |
11.21 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
138.67 |
185.19 |
240.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.60 |
0.52 |
0.45 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.60 |
0.57 |
0.48 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.70 |
0.80 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.38 |
2.36 |
2.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.98 |
3.01 |
3.26 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.91 |
1.34 |
1.36 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.41 |
2.14 |
2.15 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
7.08 |
5.40 |
5.23 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.43 |
4.18 |
3.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
19.48 |
20.79 |
15.74 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.09 |
1.03 |
0.95 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.63 |
0.53 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.20 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
18.74 |
21.44 |
18.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.09 |
1.03 |
0.95 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 960.00/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1171.351 |
1171.351 |
1367.698 |
|
Reserves & Surplus |
7556.557 |
9449.833 |
17161.226 |
|
Net
worth |
8727.908 |
10621.184 |
18528.924 |
|
|
|
|
|
|
Long-Term Borrowings |
5462.971 |
7151.333 |
6325.006 |
|
Short Term Borrowings |
14127.927 |
14910.477 |
15731.413 |
|
Current Maturities of Long term debt |
2314.577 |
3052.423 |
3577.704 |
|
Total
borrowings |
21905.475 |
25114.233 |
25634.123 |
|
Debt/Equity
ratio |
2.510 |
2.365 |
1.383 |
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 |
26241.005 |
40853.243 |
50976.248 |
|
|
|
55.685 |
24.779 |
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
|
26241.005 |
40853.243 |
50976.248 |
|
Profit/(Loss) |
1373.572 |
2208.040 |
3609.428 |
|
|
5.23% |
5.40% |
7.08% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1367.698 |
1171.351 |
|
(b) Reserves &
Surplus |
|
15822.114 |
8149.755 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.245 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
17190.057 |
9321.106 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
22719.840 |
17597.567 |
|
(b) Deferred tax
liabilities (Net) |
|
837.184 |
698.979 |
|
(c) Other long term
liabilities |
|
2039.838 |
2213.351 |
|
(d) long-term provisions |
|
257.761 |
156.460 |
|
Total Non-current
Liabilities (3) |
|
25854.623 |
20666.357 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
15080.003 |
14546.145 |
|
(b) Trade payables |
|
8885.916 |
10232.027 |
|
(c) Other current
liabilities |
|
13098.352 |
7928.801 |
|
(d) Short-term provisions |
|
84.043 |
66.580 |
|
Total Current Liabilities
(4) |
|
37148.314 |
32773.553 |
|
|
|
|
|
|
TOTAL |
|
80192.994 |
62761.016 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
16793.871 |
14176.929 |
|
(ii) Intangible Assets |
|
2874.343 |
2370.622 |
|
(iii) Capital
work-in-progress |
|
1061.121 |
0.000 |
|
(iv) Intangible assets
under development |
|
3542.072 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
12928.353 |
10971.025 |
|
(d) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(e) Long-term Loan and
Advances |
|
0.000 |
0.000 |
|
(f) Other Non-current
assets |
|
5303.017 |
2866.493 |
|
Total Non-Current Assets |
|
42502.777 |
30385.069 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
16638.500 |
15803.470 |
|
(c) Trade receivables |
|
9498.757 |
9194.801 |
|
(d) Cash and cash
equivalents |
|
1630.327 |
1158.487 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
9922.633 |
6219.189 |
|
Total Current Assets |
|
37690.217 |
32375.947 |
|
|
|
|
|
|
TOTAL |
|
80192.994 |
62761.016 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
53191.572 |
43004.710 |
|
|
Other Income |
|
122.468 |
162.222 |
|
|
TOTAL |
|
53314.040 |
43166.932 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Construction |
|
23748.814 |
20436.549 |
|
|
Changes in Inventories |
|
14540.459 |
9838.441 |
|
|
Employees benefits
expense |
|
1049.789 |
894.599 |
|
|
Other expenses |
|
2253.004 |
2030.937 |
|
|
TOTAL |
|
41592.066 |
33200.526 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
11721.974 |
9966.406 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
5548.806 |
5193.374 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
6173.168 |
4773.032 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
2451.898 |
2000.385 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
3721.270 |
2772.647 |
|
|
|
|
|
|
|
Less |
TAX |
|
144.454 |
474.920 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
3576.816 |
2297.727 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
27.56 |
19.62 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
The company is domiciled in
India with its registered office at Bhopal, Madhya Pradesh, India. The Company
has been incorporated under the provisions of the Companies Act, 1956.
The Company's equity shares are
listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) with
effect from 11 August 2016.
The company is presently in the
business of development of infrastructure facilities on Engineering Procurement
and Construction basis (EPC) and undertakes contract from various Government
and other parties and special purpose vehicles promoted by the Company.
FINANCIAL PERFORMANCE
During the year, the company
reported a top-line growth of 24.78% over the previous year. At Standalone level,
the Revenue from Operations amounted to INR 50976.248 million as against INR
40853.243 million in the previous year. The Operating Profit before Tax
amounted to INR 3600.670 million as against INR 2501.019 million in the
previous year. The Net Profit for the year amounted to INR 3609.428 million
against INR 2208.040 million reported in the previous year and total
comprehensive income for the year amounted to INR 3611.264 million as against
INR 2205.158 million in the previous year.
BUSINESS OPERATIONS
Overview
They are one of the leading
private sector road-focused EPC contractors in India. During the last five
Financial Years ended March 31, 2017 they completed the construction of 73 road
projects in the states of Madhya Pradesh, Gujarat, Himachal Pradesh, Rajasthan,
Andhra Pradesh, Karnataka, Telangana, Uttar Pradesh and Maharashtra in India,
with an aggregate length of approximately 8,604.61 lane kms, achieving a CAGR
of 34.75% of revenue growth on standalone basis for the five Financial Years ended
March 31, 2017.
As the owner of one of the
largest fleets of construction equipment in India, they maintained, as of March
31, 2017, a modern equipment fleet of 8,525 vehicles and other construction
equipments from some of the world's leading suppliers, such as Schwing Stettar,
Metso, Wirtgen and Vogele. They are one of the largest employers in the
construction industry in India and employed 25,290 employees as of March 31,
2017.
Their core business is
undertaking construction projects across India in the roads sector. They
specialize in constructing state and national highways, city roads, culverts
and bridges. As a result of the natural growth of their road construction
business, as well as the recent government support to the infrastructure sector
and rising opportunities in new business areas, recently they expanded into the
irrigation and urban development businesses.
Their business comprises:
(i)
Their
construction business, under which they undertake roads, bridges, irrigation,
urban development and mining projects on an EPC basis; and
(ii)
Their
infrastructure development business, under which they undertake building,
operation and development of road projects on a BOT basis with a focus on
annuity projects.
As of March 31, 2017, they had
an order book of INR 175682.651 million, consisting of 37 third party road EPC
projects, 10 of their own road BOT/HYBRID projects on EPC basis, 2 irrigation
projects, 3 urban development projects, 3 mining projects and 1 cablestayed
bridge project.
CONSTRUCTION BUSINESS
Roads & Bridges:-
In their road and bridge
construction business, they mainly design, construct and maintain roads,
bridges and highways on an EPC basis with third party and EPC Contracts awarded
to us through their subsidiary companies.
They recognized revenue of INR
45714.301 million from this business for Financial Year 2017. As on March 31,
2017, they were undertaking a total of 37 road EPC Projects, 1 Bridge and 10
road infrastructure development projects in 12 states, which amounted to an
aggregate length of 8,781.25 lane kms. Their order book for these projects
amounted to INR 145808.952 million as of March 31, 2017, accounting for 83% of
their total order book.
Irrigation:-
They recently diversified into the
irrigation business. They started to undertake irrigation projects in Financial
Year 2014 to explore opportunities created by the increased focus of the
Government and State Governments on agriculture. In their irrigation business,
they undertake to build canals and dams. Their irrigation team undertakes
primarily design and construction works for tunnels and canals for agricultural
irrigation purposes. They do not need to make any further investment into their
equipment bank as they are able to use their existing equipments for their
irrigation projects.
Undertaking irrigation projects
in the areas close to their on-going projects facilitates their strategy to
cluster their EPC projects. They can conveniently move and use the manpower,
machines and materials in the nearby work sites and undertake these projects on
a cost effective basis.
They recognized revenue of
27,827.28 Lakhs from this business for Financial Year 2017. As of March 31,
2017, they were undertaking 2 EPC irrigation projects in Madhya Pradesh. Their
order book for these projects amounted to INR 1648.376 million as of March 31,
2017, accounting for 1% of their total order book.
Urban
Development
They recently diversified into
the urban development business. The recent trend in the urban development
sector has provided us with an opportunity to diversify their business. They
believe this sector may continue to grow during the next few years and thus
plan to undertake projects in their core geographic markets. They commenced
urban development projects in Madhya Pradesh in Financial Year 2013 to explore
the opportunities created by the increased focus of the State Government on
improving the living conditions of the underprivileged. In their urban
development business, they undertake redevelopment and re-densification of
government housing and build residential units under affordable housing
schemes, construction of district court and other structures in group water
supply schemes relating to irrigation or water supply for agricultural purposes.
They recognized revenue of INR
901.004 million from this business for Financial Year 2017. As of March 31,
2017, they were undertaking 3 EPC urban development projects in Madhya Pradesh.
Their order book for these projects amounted to INR 2108.133 million as of
March 31, 2017, accounting for 1.20% of their total order book.
Mining Project
DBL over a period of time has
developed core strengths like fleet/equipment management, bulk material
handling, high volume excavation and earth work, supply chain management etc.
in its infrastructure and construction business. All these expertise of DBL
enjoys close synergy with the mining business. As a part of diversification
strategy and to exploit the existing strengths of the organization, DBL
ventured into mining business, bagged contracts of Overburden/Waste Removal
from Northern Coalfield Limited (NCL) and Singareni Collieries Company Limited
(SCCL). In a very short span of 12 months DBL has achieved a remarkable
excavation capacity of 2.50 Lakhs BCM per day in the most cost efficient manner
and established new benchmarks for the Industry.
They recognized revenue of INR
1399.084 million from this business for Financial Year 2017. As of March 31,
2017, their order book of these 3 projects was INR 26117.190 million,
accounting for 14.87% of their total order book. Goa Zuari Cable-stayed Bridge
Project (status on 31.03.2017): This project mainly involves construction of
the 640-meter long cable-stayed bridge, which will have a central span of 360
meters, and will approach across River Zuari on NH-17/NH-66 on Panjim-
Mangalore section in the State of Goa. Further in the April 2016, they have
also won adjacent road connecting to Zuari Bridge namely package I & III
costing to INR 8577.000 million. Overall the company has won 3 projects in the
state of Goa aggregating to INR 14031.000 million. To ensure successful
completion of this project, they have engaged international professionals from
France and China to provide bridge design and construction quality examination
services.
They recognized revenue of INR
549.387 million from this business for Financial Year 2017. As of March 31,
2017, their order book of these 3 projects was INR 13481.622 million,
accounting for 7.67% of their total order book.
INFRASTRUCTURE DEVELOPMENT BUSINESS
In their infrastructure
development business, they develop and maintain roads and highways on a BOT
basis. As of March 31, 2017, they had completed 14 projects totalling 1,940.53
Lane kms in the states of Gujarat and Madhya Pradesh in India & they have
10 under construction projects comprising 1 pure toll & 9 hybrid annuity
model projects totalling 2,507.47 Lane kms. In the states of Maharashtra, Uttar
Pradesh, Karnataka and Madhya Pradesh in India.
In respect of their completed
projects, they operate 1 BOT project purely on a toll basis where the only
source of revenue is the toll they charge vehicles for using the road, 3 BOT
projects on annuity basis where the only source of revenue is the fixed amount
that the relevant government agency pays us for building and maintaining the
roads on an annual basis, and the remaining 10 projects on annuity plus toll
basis, where they are entitled to both a fixed amount to be received annually
in addition to the toll that they charge, with their respective concession
periods ranging from 14 to 25 years. Due to the annuity component in their
operational BOT projects, income is assured to the extent of the annuities to
be collected during a year under the relevant concessions, thus reducing the
risk of income fluctuations resulting from traffic pattern changes.
They currently undertake
BOT/Hybrid projects opportunistically, considering factors such as their
proximity to clusters where they are executing other projects to maximize efficiency
of execution and profitability, and the potential cash flow from such projects
after they become operational. Given their strategy and focus on providing EPC
services, they may also evaluate opportunities to divest, either wholly or
partially, their operational BOT assets, thereby freeing up capital invested in
these projects for redeployment elsewhere.
MANAGEMENT DISCUSSION
AND ANALYSIS
Economic Review
Global economic overview
Global economic activity
improved in the second half of CY2016, especially in advanced economies. Growth
picked up in the US as firms grew more confident about future demand. The
economy also recorded a lower rate of unemployment and buoyant consumer demand.
In the aftermath of the Brexit vote, the Euro area growth was also resilient on
the back of strong domestic demand and continued easing; the growth in the
United Kingdom remained robust on the back of resilient spending. Japan's
performance has also been on the upside with strong exports.
However, the global economic growth,
at 3.1% on a y-o-y basis, fell short of expectations in CY2016 as deceleration
in key emerging markets and developing economies (EMDEs) overshadowed the
modest recovery in major developed countries. The EMDEs contribute to more than
half of the global economic growth rate. Their deceleration was accompanied by
a modest increase in commodity prices, subdued global trade, financial market
volatility and weakening capital flows. Although China's growth turned out to
be better than expected on the back of policy stimulus, it was lower than
CY2015. India fared better than the world in terms of growth, even though the
demonetisation exercise temporarily threw a challenge. Brazil, on the other
hand, remained mired in a deep recession. Activity remained weak in fuel and
nonfuel commodity exporters more generally, while geopolitical factors held
back growth in parts of the Middle East and Turkey.
With buoyant financial markets
and a long awaited cyclical recovery in manufacturing and trade under way,
world growth is projected to rise from 3.1 percent in 2016 to 3.5 percent in
2017 and 3.6 percent in 2018, slightly above the October 2016 World Economic
Outlook (WEO) forecast.
Indian Economy
India's economic growth is
gradually improving since 2014. The favourable policy as well as executive
reforms by the Government to support strong and sustainable growth, prudent
fiscal regime and calibrated monetary easing that reigned in inflation have
helped to strengthen macroeconomic stability. The lower crude oil prices have
also helped to reduce current account deficit, improve fiscal positions, and
lower inflation. This, in turn, has helped boost economic activities in India.
Driven by these positive developments, the country has emerged as the world's
fastest growing major economy.
India's growth is forecast to
increase to 7.2 percent in FY2017 and accelerate to 7.7 percent by the end of
the forecast horizon—slightly below previous projections. This outlook mainly
reflects a more protracted recovery in private investment than previously
envisaged. Nonetheless, domestic demand is expected to remain strong, supported
by ongoing policy reforms, especially the introduction of the nationwide Goods
and Services Tax (GST). Significant gains by the ruling party in state elections
should support the government's economic reform agenda, which aims at unlocking
supply constraints, and creating a business environment that is more conducive
to private investment.
The Government of India has taken
significant initiatives to strengthen the economic credentials of the country
and make it one of the strongest economies in the world. India is fast becoming
home to start-ups focused on high growth areas such as mobility, e-commerce and
other vertical specific solutions - creating new markets and driving
innovation. Owing to higher infrastructure spending, increased fiscal
devolution to states, and continued reforms in fiscal and monetary policy, the
Indian economic outlook has strengthened. The Government of India is striving
to move steadily to minimize structural and political bottlenecks, attract
higher investment and improve economic performance.
OUTLOOK
The growth momentum should rise,
driven by the Government's policy initiatives in areas such as taxation (GST),
foreign direct investment (FDI), and the ease of doing business, among others.
Other major factors helping India stay as a bright spot in the global economic
landscape include the lower global oil price, with positive impact on the country's
import bill, a well-regulated monetary policy by the Reserve Bank to stabilise
prices, and improving fiscal condition. The Government's endeavour to drive a
bigger as well as a cleaner GDP is expected to augur well for the economy in
the medium and long terms. The growth recovery has primarily happened due to
discretionary spending, public investment and FDI reforms. The introduction of
GST and higher outlays in the Budget 2017 are expected to drive growth as well.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
SHORT TERM
BORROWINGS |
|
|
|
From
Related Parties |
292.940 |
367.821 |
|
|
|
|
|
Total |
292.940 |
367.821 |
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED
31.12.2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine Months Ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
(Unaudited) |
||
|
Total Income from Operations |
19477.676 |
15849.245 |
51994.303 |
|
Net Profit / (Loss) from ordinary activities after
Tax |
1646.986 |
1156.027 |
4029.413 |
|
Total comprehensive income (after tax) and other comprehensive income (after tax) |
1650.076 |
1157.526 |
4029.366 |
|
Equity share capital |
1367.698 |
1367.698 |
1367.698 |
|
Earnings per Share (before extraordinary items) (of INR 10/- each) (not annualised) |
|
|
|
|
- Basic |
12.04 |
8.46 |
29.46 |
|
- Diluted |
12.04 |
8.46 |
29.46 |
|
Earnings per Share (after extraordinary items) (of INR 10/- each) (not annualised) |
|
|
|
|
- Basic |
12.04 |
8.46 |
29.46 |
|
- Diluted |
12.04 |
8.46 |
29.46 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G56772288 |
100127821 |
HINDUJA LEYLAND FINANCE LIMITED |
28/09/2017 |
- |
- |
20508390.0 |
1 SARDAR PATEL ROAD GUINDY CHENNAI 600032, TAMILNADU, INDIA |
|
2 |
G57663460 |
100128867 |
SUNDARAM FINANCE LIMITED |
27/09/2017 |
- |
- |
17881280.0 |
21 PATULLOS ROAD CHENNAI 600002, TAMILNADU, INDIA |
|
3 |
G57665358 |
100128869 |
SUNDARAM FINANCE LIMITED |
27/09/2017 |
- |
- |
6234920.0 |
21 PATULLOS ROAD CHENNAI 600002, TAMILNADU, INDIA |
|
4 |
G57666455 |
100128870 |
SUNDARAM FINANCE LIMITED |
27/09/2017 |
- |
- |
3940940.0 |
21 PATULLOS ROAD CHENNAI 600002, TAMILNADU, INDIA |
|
5 |
G57669988 |
100128874 |
SUNDARAM FINANCE LIMITED |
27/09/2017 |
- |
- |
5646720.0 |
21 PATULLOS ROAD CHENNAI 600002, TAMILNADU, INDIA |
|
6 |
G57671323 |
100129025 |
SUNDARAM FINANCE LIMITED |
27/09/2017 |
- |
- |
4587960.0 |
21 PATULLOS ROAD CHENNAI 600002, TAMILNADU, INDIA |
|
7 |
G59494427 |
100130441 |
PNB INVESTMENT SERVICES LIMITED |
26/09/2017 |
- |
- |
3350000000.0 |
10, RAKESH DEEP BUILDING, YUSUF SARAI COMMERCIAL COMPLEX, GULMOHAR ENCLAVE NEW DELHI 110049, INDIA |
|
8 |
G54576293 |
100124948 |
HINDUJA LEYLAND FINANCE LIMITED |
20/09/2017 |
- |
- |
17943341.0 |
1 SARDAR PATEL ROAD GUINDY CHENNAI 600032, TAMILNADU, INDIA |
|
9 |
G54425764 |
100124805 |
HINDUJA LEYLAND FINANCE LIMITED |
14/09/2017 |
- |
- |
8814600.0 |
1 SARDAR PATEL ROAD GUINDY CHENNAI 600032, TAMILNADU, INDIA |
|
10 |
G53909008 |
100123655 |
HDFC BANK LIMITED |
08/09/2017 |
- |
- |
17200000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI 400013, MAHARASHTRA, INDIA |
FIXED ASSETS:
·
Land
·
Residential Flat
·
Computer and Printer
·
Plant and Machinery
·
Office Equipments
·
Vehicles
·
Furniture and Fixtures
·
Vessel
·
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 89.17 |
|
Euro |
1 |
INR 79.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.