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MIRA INFORM REPORT
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Report No. : |
492615 |
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Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
EWAC ALLOYS LIMITED [w.e.f.15.09.1979] |
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Formerly known
as: |
EUTECTIC WELDING ALLOYS OF INDIA LIMITED |
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Registered
Office : |
L&T, Business Park, Tower B, TC II, 5th Floor, L&T
Gate No. 5, Powai Campus, Saki Vihar Road, Powai, Mumbai-400072, Maharashtra |
|
Tel. No.: |
91-22-67525656 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
04.04.1962 |
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Com. Reg. No.: |
11-012315 |
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Capital
Investment / Paid-up Capital : |
INR 82.944 Million |
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CIN No.: [Company Identification
No.] |
U74999MH1962PLC012315 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACE2470R |
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GST No.: |
Not Divulged |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Welding Products, Equipments and
Accessories. [Registered Activity] |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1962. It is a wholly owned subsidiary of Larsen And Toubro Limited, India. The company is engaged in Manufacturer and Trader of Welding Products, Equipments and Accessories. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. As per the financial records of 2016, the company has achieved a favourable profitability margin of 15.59% but has reported a decline in its revenue as compared to the previous year. The company possesses healthy financial position marked by sound net worth base along with comfortable liquidity position. Rating takes into consideration the company’s decent Earnings Per Share (EPS) of INR 414.78 as against its Face Value (FV) of INR 100. Rating also takes into consideration the strength that the company derives from its holding company and its experienced management team. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Loans = AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
18.10.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
18.10.2017 |
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 19.02.2018
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 DECLINED
MANAGEMENT NON CO-OPERATIVE [91-22-67525656]
[91-22-22685656] Number does not belongs to the subject company
LOCATIONS
|
Registered / Head Office : |
L&T, Business Park, Tower B, TC II, 5th Floor, L&T
Gate No. 5, Powai Campus, Saki Vihar Road, Powai, Mumbai-400072, Maharashtra,
India |
|
Tel. No.: |
91-22-67525656/ 67050505 |
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Fax No.: |
91-22-67059876/ 77 |
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E-Mail : |
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Website : |
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Factory : |
Dr. Rene Wasserman Centre, Plot No. 7917, GIDC, Ankleshwar-393002, Gujarat, India |
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Zonal Offices : |
C/o. L&T Limited, 3B, Shakespeare Sarani, Kolkata – 700071, West Bengal, India Tel. No.: 91-33-22820227 C/o. L&T Limited, Radhadaya Complex, Old Padra Road, Near Charotar Society, Vadodara-390015, Gujarat, India Tel. No.: 91-265-6613607/ 8 C/o. L&T Limited, 32, Shivaji Marg, New Delhi - 110015, India 91-11-41419538 / 40 C/o. L & T Limited, L&T Construction Campus, TC – 1 Building, 2nd Floor, Mount–Poonamallee Road, Manapakkam Chennai - 600089, Tamilnadu, India Tel. No.: 91-44-40706896 C/o. L & T Limited, 2nd Floor, Vasantha Chambers, 5-10-173, Fateh Maidan Road, Hyderabad - 500004, Telangana, India C/o. L & T Limited, 191/1 Dhole Patil Road,
Pune-411001, Maharashtra Tel. No.: 91-20-66033211 C/o. L & T Limited, 4th Floor, Crystal Tower, GE Road, Telibandha, Raipur-492006, Chhattisgarh, India Tel. No.: 91-771-4283206 / 9 |
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Training Institutes
: |
· Plot No. 7917, GIDC Industrial Estate, Ankleshwar – 393 002, Gujarat, India Tel No.: 91-2646-229961 / 62 · D & T Centre, C/o. L & T Limited, 32, Shivaji Marg, New Delhi – 110015, India Tel No.: 91-11-41419540 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Mohan Bhuvarahan |
|
Designation : |
Additional Director |
|
Address : |
#2, Park View Road United India Colony, Kodambakkam, Chennai-600024, Tamilnadu, India |
|
Date of Appointment : |
16.11.2017 |
|
DIN No.: |
00261434 |
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Name : |
Mr. Jagannathan Palle Venkata |
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Designation : |
Additional Director |
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Address : |
HIG No.,53/1,7th Cross Street, Eri Scheme,West Mogappair, Chennai-600037, Tamilnadu, India |
|
Date of Appointment : |
08.02.2018 |
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DIN No.: |
01882230 |
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Name : |
Mr. Rohit Gambhir |
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Designation : |
Additional Director |
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Address : |
Flat No. A 3, Iii Floor, No. 94 Satyadev Avenue Jain Sagarika, Mr. C Nagar, Chennai-600028, Tamilnadu, India |
|
Date of Appointment : |
16.11.2017 |
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DIN No.: |
06686250 |
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Name : |
Debobroto Banerjee |
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Designation : |
Additional Director |
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Address : |
S/O P.K. Banerjee, House No.Y-154 Regency Park-2, Near Galleria Market DLF Phase-4galleria DLF-IV, Gall, Gurgaon-122009, Haryana, India |
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Date of Appointment : |
16.11.2017 |
|
DIN No.: |
07972221 |
KEY EXECUTIVES
|
Name : |
Nachimuthu Murugesan |
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Designation : |
Manager |
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Address : |
Flat No. 2001, 20thy Floor, Heritage Hiranandani Garden, Powai, Mumbai-400076, Maharashtra, India |
|
Date of Appointment : |
06.06.2016 |
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PAN No.: |
AAAPN1784E |
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|
Name : |
Hambige Sundaresh Babu Indu |
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Designation : |
Company Secretary |
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Address : |
Flat No.S3, Plot No.5, SV Flats, 2nd Floor, Rajag Dhanalakshmi Nagar, Bai Kadai, Moulivakk Am, Porur, Chennai-600116, Tamilnadu, India |
|
Date of Appointment : |
09.02.2018 |
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PAN No.: |
ABCPI6776Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
829434 |
|
YVS Sravankumar Jointly with Larsen and Toubro Limited |
|
01 |
|
Sadagopan Raghavan Jointly with Larsen and Toubro Limited |
|
01 |
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N Hariharan Jointly with Larsen and Toubro Limited |
|
01 |
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P Ramakrishnan Jointly with Larsen and Toubro Limited |
|
01 |
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Prasad V Shanbhag Jointly with Larsen and Toubro Limited |
|
01 |
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Raju Vishwanathan Iyer Jointly with Larsen and Toubro Limited |
|
01 |
|
|
|
|
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Total |
|
829440 |
AS ON: 14.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Welding Products, Equipments and
Accessories. [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 : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Bank of Baroda Corporate Financial Services Branch, 3,Walchand Hirachand Marg, Ballard Pier, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
Sharp and Tannan Chartered Accountants |
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Address : |
Ravindra
Annexe,194 Churchgate Reclamation, Dinshaw Vachha Road, Mumbai -400020,
Maharashtra, India |
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PAN No.: |
AAAFS2967E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Larsen And Toubro Limited [L99999MH1946PLC004768] |
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Fellow Subsidiary
Companies : |
· L&T Cutting Tools Limited [U28920MH1952PLC008893] · L & T Finance Limited [U65990MH1994PLC083147] · L&T Fincorp Limited [U65910MH1997PLC108179] · Larsen & Toubro T&D Sa (Pty) Limited · L&T Geostructure LLP · L&T Kobelco Machinery Private Limited [U29253MH2010PTC210325] · L&T Construction Equipment Limited [U29119MH1997PLC109700] · L&T Hydrocarbon Engineering Limited [U11200MH2009PLC191426] · L&T- MHPS Boilers Private Limited [U29119MH2006PTC165102] · Nabha Power Limited [U40102PB2007PLC031039] · L&T Shipbuilding Limited [U74900TN2007PLC065356] · L&T Realty Limited [U74200MH2007PLC176358] · L&T Special Steels and Heavy Forgings Private Limited [U27109MH2009PTC193699] · L&T Technology Services Limited [U72900MH2012PLC232169] · L&T Valves Limited [U74999MH1961PLC012188] · L&T - MHPS Turbine Generators Private Limited [U31101MH2006PTC166541] · L&T-Sargent & Lundy Limited [U74210MH1995PLC088099] · Larsen & Toubro Saudi Arabia LLC · L & T Hydrocarbon Engineering Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
829440 |
Equity Shares |
INR 10/- each |
INR 82.944
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
82.944 |
82.944 |
82.944 |
|
(b) Reserves & Surplus |
875.885 |
833.336 |
789.477 |
|
(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) |
958.829 |
916.280 |
872.421 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
160.000 |
240.000 |
|
(b) Deferred tax liabilities (Net) |
42.019 |
36.966 |
35.372 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
15.531 |
15.632 |
11.637 |
|
Total
Non-current Liabilities (3) |
57.550 |
212.598 |
287.009 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
160.000 |
0.000 |
55.000 |
|
(b)
Trade payables |
406.769 |
416.053 |
360.932 |
|
(c)
Other current liabilities |
51.217 |
120.352 |
42.946 |
|
(d)
Short-term provisions |
73.230 |
64.626 |
90.488 |
|
Total
Current Liabilities (4) |
691.216 |
601.031 |
549.366 |
|
|
|
|
|
|
TOTAL |
1707.595 |
1729.909 |
1708.796 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
782.943 |
786.178 |
782.646 |
|
(ii)
Intangible Assets |
2.592 |
3.491 |
4.248 |
|
(iii)
Capital work-in-progress |
4.771 |
6.131 |
0.185 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
101.443 |
93.731 |
75.951 |
|
(e)
Other Non-current assets |
15.256 |
19.249 |
12.960 |
|
Total
Non-Current Assets |
907.005 |
908.780 |
875.990 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
204.241 |
243.674 |
264.097 |
|
(c)
Trade receivables |
417.777 |
447.481 |
437.997 |
|
(d)
Cash and cash equivalents |
36.720 |
48.706 |
75.115 |
|
(e)
Short-term loans and advances |
141.852 |
81.268 |
55.597 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
800.590 |
821.129 |
832.806 |
|
|
|
|
|
|
TOTAL |
1707.595 |
1729.909 |
1708.796 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2206.397 |
2396.95 |
2684.717 |
|
|
|
Other Income |
5.079 |
9.412 |
7.817 |
|
|
|
TOTAL |
2211.476 |
2406.362 |
2692.534 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
453.315 |
523.758 |
484.441 |
|
|
|
Purchases of Stock-in-Trade |
96.417 |
184.88 |
355.314 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
37.218 |
12.5 |
194.751 |
|
|
|
Employees benefits expense |
256.668 |
243.995 |
254.263 |
|
|
|
Other expenses |
762.358 |
712.555 |
783.752 |
|
|
|
|
0.436 |
0.22 |
0 |
|
|
|
TOTAL |
1606.412 |
1677.908 |
2072.521 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
605.064 |
728.454 |
620.013 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20.799 |
30.827 |
47.391 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
584.265 |
697.627 |
572.622 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
60.176 |
53.973 |
49.56 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
524.089 |
643.654 |
523.062 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
180.053 |
217.904 |
176.497 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
344.036 |
425.750 |
346.565 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
60.497 |
53.192 |
52.337 |
|
|
|
TOTAL EARNINGS |
60.497 |
53.192 |
52.337 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
21.017 |
14.428 |
7.610 |
|
|
|
Components and spare
parts |
45.946 |
0.176 |
0.532 |
|
|
|
Capital Goods |
13.451 |
31.013 |
4.442 |
|
|
|
TOTAL IMPORTS |
80.414 |
45.617 |
12.585 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
414.78 |
513.30 |
417.83 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
80.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
614.251 |
733.258 |
582.628 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
429.751 |
521.484 |
416.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
69.11 |
68.14 |
59.55 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.28 |
5.36 |
6.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
270.08 |
214.30 |
156.88 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.96 |
2.99 |
2.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.77 |
0.92 |
0.79 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.40 |
0.49 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.17 |
0.26 |
0.34 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.72 |
0.66 |
0.63 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.82 |
0.87 |
0.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
29.09 |
23.63 |
13.08 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
15.59 |
17.76 |
12.91 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
20.15 |
24.61 |
20.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
35.88 |
46.47 |
39.72 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.16 |
1.37 |
1.52 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.86 |
0.96 |
1.04 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.56 |
0.53 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.93 |
2.89 |
3.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.16 |
1.37 |
1.52 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
82.944 |
82.944 |
82.944 |
|
Reserves & Surplus |
789.477 |
833.336 |
875.885 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
872.421 |
916.280 |
958.829 |
|
|
|
|
|
|
long-term borrowings |
240.000 |
160.000 |
0.000 |
|
Short term borrowings |
55.000 |
0.000 |
160.000 |
|
Current Maturities of Long
term debt |
0.000 |
80.000 |
0.000 |
|
Total
borrowings |
295.000 |
240.000 |
160.000 |
|
Debt/Equity
ratio |
0.338 |
0.262 |
0.167 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
2684.717 |
2396.950 |
2206.397 |
|
|
|
(10.719) |
(7.950) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
2684.717 |
2396.950 |
2206.397 |
|
Profit/ (Loss) |
346.565 |
425.750 |
344.036 |
|
|
12.91% |
17.76% |
15.59% |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B25808262 |
80049998 |
BANK OF BARODA |
23/10/1980 |
17/08/2011 |
- |
151000000.0 |
CORPORATE FINANCIAL SERVICES BRANCH3,WALCHAND HIRACHAND MARG, BALLARD PIERMUMBAIMH400001IN |
|
2 |
G59999177 |
80049010 |
BANK OF BARODA |
11/01/1982 |
- |
27/10/2017 |
2000000.0 |
FORT,MUMBAIMH400023IN |
|
3 |
G59999755 |
80049009 |
BANK OF BARODA |
15/05/1973 |
- |
27/10/2017 |
1200000.0 |
BOMBAY MAIN OFFICE,MUMBAIMH400001IN |
|
4 |
G59736843 |
80048809 |
BNP PARIBAS |
05/02/1999 |
29/10/2008 |
18/10/2017 |
30000000.0 |
62, HOMJI STREET,FORT,MUMBAIMH400001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
160.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
160.000 |
0.000 |
|
|
|
|
|
Total |
160.000 |
160.000 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Other money for which company is contingently liable |
187.358 |
75.233 |
STATE OF COMPANY
AFFAIRS:
The gross
sales and other income for the financial year were INR 2383.800 million as
against INR 2600.600 million for the previous financial year registering a
decrease of 8%. The profit before tax from continuing operations including
extraordinary and exceptional items was INR 524.100 million and the profit
after tax from continuing operations including extraordinary and exceptional
items of INR 344.000 million for the financial year under review as against INR
643.700 million and INR 425.800 respectively for the previous financial year,
registering an decrease of 19% and 19% respectively.
FIXED ASSETS:
· Leasehold Land
· Buildings
· Plant & Equipment
· Furniture & fixtures
· Office equipments
· Laboratory equipments
· Vehicles
· Computer
· Air Conditioning
PRESS RELEASE:
L&T TO SELL
SUBSIDIARY EWAC ALLOYS FOR INR 5220.000 MILLION
11.10.2017
Larsen and Toubro has
entered into a definitive agreement with UK-based ESAB Holdings to sell
subsidiary EWAC Alloys for INR 5220.000 million
Mumbai: Engineering major Larsen and Toubro Ltd (L&T) on Wednesday announced the sale of unlisted subsidiary EWAC Alloys Ltd as part of its strategy to exit non-core businesses.
In a stock exchange filing, Larsen and Toubro said it has entered into a definitive agreement with ESAB Holdings Ltd, a company registered in the UK, to sell EWAC Alloys for INR 5220.000 million.
EWAC makes welding products and provides related services. The company, which began as a joint venture of Larsen & Toubro and Germany-based Messer Eutectic Castolin Group, became a wholly owned subsidiary of L&T in 2011.
L&T said EWAC had a revenue of INR 2112.000 million in fiscal 2017, representing around 0.19% of the L&T group’s consolidated revenue. As of 31 March, it had a net worth of INR 956.900 million.
“Subject to customary closing conditions, the sale is expected to be completed within 90 days from the date of execution of the share sale and purchase agreement,” the statement added.
On Wednesday, shares of L&T dropped 0.83% to close at INR 1,133.3 on BSE, while the benchmark Sensex lost 0.28% to 31,833.99 points. The announcement came after market hours.
The acquirer ESAB offers a huge range of products and solutions for welding and cutting process.
In 2012, ESAB was acquired by Colfax Corp., a diversified industrial manufacturing company based in the US.
In August, L&T agreed to sell its entire stake in unlisted unit L&T Cutting Tools Ltd to IMC International Metalworking Companies BV, owned by Berkshire Hathaway Inc., for INR 1740.000 million.
L&T was also in talks with ABB, the European engineering multinational, to sell its electrical and automation division, The Economic Times reported on 21 June. L&T has operations in engineering, construction, manufacturing, technology and financial services
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 63.91 |
|
UK Pound |
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.