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|
MIRA INFORM REPORT
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Report No. : |
493366 |
|
Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
FLSMIDTH PRIVATE
LIMITED |
|
|
|
|
Formerly Known
As : |
FLS AUTOMATION INDIA PRIVATE LIMITED |
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|
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|
Registered
Office : |
"Flsmidth House" 34, Egatoor, Rajiv Gandhi Salai, Kelambakkam, Chennai – 603103, Tamilnadu |
|
Tel. No.: |
91-44-47481000/ 27411000 |
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|
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Country : |
India |
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|
Financials (as on)
: |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
18.04.2000 |
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|
|
|
Com. Reg. No.: |
18-044765 |
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|
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Capital
Investment / Paid-up Capital : |
INR 258.433 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26941TN2000PTC044765 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0401011810 |
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|
|
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PAN No.: [Permanent Account No.] |
AAACF4997N |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
33AAACF4997N1Z3 |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company has the following divisions: Projects The Company has a Projects Division which is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries and renders related services. The Company also renders certain engineering, information technology and related services to its Group Companies. Industrial Machinery: The Company is also engaged in the manufacture of a) Bag Packing (Roto Packers) and Bag Loading Systems, Silo feeding and extraction system, Belt and Chain type bucket elevators, Bulk loading systems and other material handling equipment for Cement, Chemical, Fertilizer, Sugar and other industries. b) Capital equipment and consumables for equipment used in mineral processing industry. c) Wide range of Industrial weighing equipment and batching systems. (Registered Activity) |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of ‘FLSmidth Minerals Holding ApS’, and a part of ‘FLSmidth Group’, Denmark. It was incorporated in the year 2000 and is based in Chennai, Tamil Nadu. It is engaged in distributing equipment, services and expertise for the cement and minerals industries. Management has failed to file its latest financials with Government Registry. As per available financials of March 2016, the company has registered decline in its revenue and reported minimal profit margin. Rating takes into consideration the company’s established track record of business operation marked by healthy financial risk profile along with debt free balance sheet and good liquidity position. Rating also takes into account the strong financial and managerial support received from its holding company and well established management team. Payments seems to be regular as per commitments. In view of aforesaid, the company can be considered for 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
ICRA |
|
Rating |
Fund based-cash credit : AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
20.01.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
20.01.2017 |
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 22.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management non-cooperative (Tel No.: 91-44-47481000)
LOCATIONS
|
Registered Office : |
"Flsmidth House" 34, Egatoor, Rajiv Gandhi Salai, Kelambakkam, Chennai – 603103, Tamilnadu, India |
|
Tel. No.: |
91-44-47481000 / 27411000 |
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Fax No.: |
91-44-27470301/ 0302 |
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E-Mail : |
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Website : |
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Branch Office : |
Office No. 2, 6th Floor A, Wing, I-Think Techno Camps, Thane-400607,
Maharashtra, India |
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|
|
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Head Office : |
Express Trade Tower 3, 1st and 2nd Floor, Plot No.79, Hero Honda Chowk, Sector-34, Gurugram - 122001, Haryana, India |
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E-Mail : |
|
|
|
|
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Factory : |
Plot No. 7, Sector-8, HSIIDC Growth Centre, Bawal, District Rewari - 123501, Haryana, India |
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Tel. No.: |
91-1284-337501-02 |
DIRECTORS
As on 31.03.2017
|
Name : |
Carsten Riisberg Lund |
|
Designation : |
Managing Director |
|
Address : |
Wallerfanger Strabe 25, 66740 Saarlouis, Saarlouis, NA, Germany |
|
Date of Birth/Age : |
03.12.1962 |
|
Date of Appointment : |
01.01.2015 |
|
DIN No.: |
06375501 |
|
|
|
|
Name : |
Mr. Sivasubramanian Natarajan |
|
Designation : |
Additional Director |
|
Address : |
New No.27, Old No.46-F, Veerapandi Nagar, 1st Cross Street, Choolaimedu, Chennai - 600094, Tamilnadu, India |
|
Date of Birth/Age : |
19.09.1952 |
|
Date of Appointment : |
19.02.2015 |
|
DIN No.: |
07065048 |
KEY EXECUTIVES
|
Name : |
Mr. Parthasarathi Asuri |
|
Designation : |
Company Secretary |
|
Address : |
"Sri Krishna Krupa", 1st Floor, No. 137 New No. 11 Venkatarangam Street, Triplicane, Chennai-600005, Tamilnadu, India |
|
Date of Appointment : |
14.12.2017 |
|
PAN No.: |
AHXPP5552G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
FLSmidth Minerals Holding ApS, Denmark |
|
25843214 |
|
FLSmidth Minerals Holding ApS and FLSmidth A/S (FLSmidth A/S as a nominee of FLSmidth Minerals Holding Aps holding jointly with FLSmidth Minerals Holding Aps) |
|
100 |
|
Total |
|
25843314 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company has the following divisions: Projects The Company has a Projects Division which is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries and renders related services. The Company also renders certain engineering, information technology and related services to its Group Companies. Industrial Machinery: The Company is also engaged in the manufacture of a) Bag Packing (Roto Packers) and Bag Loading Systems, Silo feeding and extraction system, Belt and Chain type bucket elevators, Bulk loading systems and other material handling equipment for Cement, Chemical, Fertilizer, Sugar and other industries. b) Capital equipment and consumables for equipment used in mineral processing industry. c) Wide range of Industrial weighing equipment and batching systems. (Registered Activity) |
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Products/
Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASV 'N' Ramana Tower, No.52, Venkatnarayana Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Holding Company (As
on 31.03.2016) : |
FLSmidth Minerals Holding ApS, Denmark |
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Holding Company of
the Holding Company (As on 31.03.2016) : |
FLSmidth A/S, Denmark |
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Ultimate Holding
Company (As on 31.03.2016) : |
FLSmidth and Co. A/S, Denmark |
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Fellow Subsidiary
Companies (As on 31.03.2016) : |
· FLSmidth USA Inc., United States of America · NL Supervision Company A/S, Denmark · NL Supervision Company Angola LDA · NL Supervision Company Nigeria LLC · FLSmidth Inc., United States of America · FLSmidth Krebs GMBH, Germany · FLSmidth South Africa (Pty) Limited, South Africa · FLSmidth Pty Limited, Australia · FLSmidth ABON Pty Limited, Australia · FLSmidth (Beijing) Limited, China · FLSmidth Qingdao Limited, China · FLSmidth Wiesbaden GmbH , Germany · FLSmidth Hamburg GmbH, Germany · FLSmidth Wadgassen GmbH, Germany · FLSmidth Buffalo (Pty) Limited., South Africa · FLSmidth Pfister GmbH, Germany · FLSmidth MAAG Gear AG, Switzerland · FLSmidth Milano S.r.l, Italy · FLSmidth Ventomatic S.p.A., Italy · FLSmidth Kovako B.V., Netherlands · FLSmidth S.A., Spain · FLSmidth Limited., United Kingdom · FLSmidth (Pty) Limited. South Africa · FLS Automation South Africa (Pty.) Limited, South Africa · FLSmidth MAAG Gear Sp. z.o.o., Poland · FLSmidth Limited, Canada · FLSmidth Limiteda, Brazil · FLSmidth Wuppertal GmbH – Germany · FLSmidth Spol. s.r.o., Czech Republic · FLSmidth Rus OOO, Russia · FLSmidth SA, Chile · FLSmidth GmbH, Austria · PT FLSmidth Indonesia, Indonesia · FLSmidth MAAG Gear S.p.A., Italy · FLSmidth Roymec (Pty) Limited, South Africa · FLSmidth (UK) Limited, United Kingdom · FLSmidth Shangai Limited, China · FLSmidth Co. Limited, Vietnam · FLSmidth Oelde GmbH, Germany · FLSmidth S.A.C., Peru · FLSmidth SEPEC Environmental Engineering Company Limited, China · FLSmidth Ludowici Pty Limited, Australia · FLSmidth Mongolia LLC · FLSmidth Solutions ApS, Denmark · NL Supervision Company A/s, Egypt |
CAPITAL STRUCTURE
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45200000 |
Equity Shares |
INR 10/- each |
INR 452.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25843314 |
Equity Shares |
INR 10/- each |
INR 258.433
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 |
258.433 |
258.433 |
258.433 |
|
(b) Reserves & Surplus |
7655.833 |
7573.766 |
7419.801 |
|
(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) |
7914.266 |
7832.199 |
7678.234 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
812.247 |
1013.492 |
1142.838 |
|
(d) long-term
provisions |
204.596 |
208.284 |
179.558 |
|
Total Non-current
Liabilities (3) |
1016.843 |
1221.776 |
1322.396 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
1.631 |
|
(b) Trade
payables |
2976.563 |
2941.812 |
3871.186 |
|
(c) Other
current liabilities |
3591.123 |
3664.190 |
5453.487 |
|
(d) Short-term provisions |
1433.169 |
1084.947 |
1051.486 |
|
Total Current
Liabilities (4) |
8000.855 |
7690.949 |
10377.790 |
|
|
|
|
|
|
TOTAL |
16931.964 |
16744.924 |
19378.420 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2911.538 |
3130.288 |
3442.611 |
|
(ii)
Intangible Assets |
0.240 |
0.748 |
0.921 |
|
(iii)
Capital work-in-progress |
13.918 |
15.232 |
17.562 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.896 |
0.896 |
0.896 |
|
(c) Deferred tax assets (net) |
367.000 |
251.328 |
169.176 |
|
(d) Long-term Loan and Advances |
672.777 |
664.337 |
543.705 |
|
(e) Other
Non-current assets |
936.889 |
942.455 |
1911.080 |
|
Total Non-Current
Assets |
4903.258 |
5005.284 |
6085.951 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
40.352 |
|
(b)
Inventories |
693.546 |
815.736 |
941.619 |
|
(c) Trade
receivables |
6141.449 |
6883.437 |
7465.691 |
|
(d) Cash
and cash equivalents |
2796.598 |
2193.802 |
1146.329 |
|
(e) Short-term
loans and advances |
1210.742 |
973.607 |
2169.420 |
|
(f) Other
current assets |
1186.371 |
873.058 |
1529.058 |
|
Total
Current Assets |
12028.706 |
11739.640 |
13292.469 |
|
|
|
|
|
|
TOTAL |
16931.964 |
16744.924 |
19378.420 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14445.717 |
15493.107 |
18459.062 |
|
|
|
Other Income |
264.226 |
216.891 |
328.028 |
|
|
|
TOTAL |
14709.943 |
15709.998 |
18787.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
7053.414 |
7862.852 |
10657.042 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
77.535 |
29.298 |
(40.316) |
|
|
|
Employees benefits expense |
3276.581 |
3519.574 |
3367.517 |
|
|
|
CSR Expenditure |
6.079 |
3.400 |
0.000 |
|
|
|
Other expenses |
3875.444 |
3626.079 |
3930.493 |
|
|
|
TOTAL |
14289.053 |
15041.203 |
17914.736 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
420.890 |
668.795 |
872.354 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
39.331 |
34.516 |
39.188 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
381.559 |
634.279 |
833.166 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
318.995 |
404.059 |
403.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
62.564 |
230.220 |
429.795 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(20.291) |
82.057 |
3.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
82.855 |
148.163 |
426.028 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Contract revenue |
1848.396 |
472.999 |
1204.520 |
|
|
|
Export of Products, Spares, Parts and Components |
846.468 |
864.765 |
680.774 |
|
|
|
Sale from services |
2553.326 |
2704.770 |
2076.948 |
|
|
|
Commission received |
15.949 |
24.630 |
4.374 |
|
|
|
Recovery of costs |
91.306 |
102.304 |
68.479 |
|
|
|
Dividend income |
0.522 |
0.525 |
0.236 |
|
|
TOTAL EARNINGS |
5355.967 |
4169.993 |
4035.331 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
3.21 |
5.73 |
16.49 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
776.912 |
1399.912 |
(4.380) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
155.18 |
162.17 |
147.62 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.35 |
2.25 |
2.47 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
154.03 |
136.56 |
132.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.61 |
0.82 |
0.93 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.14 |
0.21 |
0.25 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.47 |
0.46 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.01 |
0.98 |
1.35 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.37 |
0.40 |
0.45 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
10.70 |
19.38 |
22.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT/Sales) * 100) |
% |
0.57 |
0.96 |
2.31 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.49 |
0.88 |
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.05 |
1.89 |
5.55 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.50 |
1.53 |
1.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.42 |
1.42 |
1.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.47 |
0.47 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.50 |
1.53 |
1.28 |
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 |
258.433 |
258.433 |
258.433 |
|
Reserves & Surplus |
7419.801 |
7573.766 |
7655.833 |
|
Net
worth |
7678.234 |
7832.199 |
7914.266 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1.631 |
0.000 |
0.000 |
|
Total
borrowings |
1.631 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
18459.062 |
15493.107 |
14445.717 |
|
|
|
(16.068) |
(6.760) |
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 |
18459.062 |
15493.107 |
14445.717 |
|
Profit |
426.028 |
148.163 |
82.855 |
|
|
2.31% |
0.96% |
0.57% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
21] |
Banking facility details |
No |
|
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 |
NOTE:
The Registered office of the company has been
shifted from Capital Towers, 180, Kodambakkam, High Road, Chennai -600034,
Tamilnadu, India to the present address w.e.f.
01.12.2011
CORPORATE INFORMATION
(As on 31.03.2016)
The Company was incorporated on 18 April 2000 [Corporate Identity Number (CIN): U26941TN2000PTC044765] and is a subsidiary of FLSmidth Minerals Holding ApS, Denmark. The Ultimate Holding Company is FLSmidth and Co. A/S, Denmark. The company has the following divisions:
Projects
The Company has a Projects Division which is engaged in the business of manufacturing and supplying of equipment for cement plants, supervision of erection and commissioning of cement plants and also undertakes turn-key projects (including erection and commissioning) for minerals processing industries and renders related services. The Company also renders certain engineering, information technology and related services to its Group Companies.
Industrial Machinery:
The Company is also engaged in the manufacture of
a) Bag Packing (Roto Packers) and Bag Loading Systems, Silo feeding and extraction system, Belt and Chain type bucket elevators, Bulk loading systems and other material handling equipment for Cement, Chemical, Fertilizer, Sugar and other industries.
b) Capital equipment and consumables for equipment used in mineral processing industry.
c) Wide range of Industrial weighing equipment and batching systems.
PERFORMANCE REVIEW
The impact of the continued slowdown in the economy during the period on the performance of the Company was mitigated by various cost reduction measures.
INDEX OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C04216446 |
80004081 |
CORPORATION BANK |
03/09/1998 |
21/05/2009 |
12/05/2014 |
733100000.0 |
M-3 & 4GREATER KAILASH-II NEW DELHI 110048 INDIA |
|
2 |
C04217568 |
80004082 |
CORPORATION BANK |
24/03/2001 |
21/05/2009 |
12/05/2014 |
733100000.0 |
M-3 & 4GREATER KAILASH-II NEW DELHI 110048 INDIA |
|
3 |
C04212841 |
10066649 |
CORPORATION BANK |
15/09/2007 |
21/05/2009 |
12/05/2014 |
733100000.0 |
M-3 & 4GREATER KAILASH-II NEW DELHI 110048 INDIA |
|
4 |
C04214045 |
80004080 |
CORPORATION BANK |
24/03/2001 |
21/05/2009 |
12/05/2014 |
733100000.0 |
M-3 & 4GREATER KAILASH-II NEW DELHI 110048 INDIA |
|
5 |
B76390236 |
10059648 |
STATE BANK OF INDIA |
07/07/2007 |
10/12/2011 |
16/05/2013 |
210000000.0 |
INDUSTRIAL FINANCE BRANCH,TELLI GALLI, ANDHERI (EAST), MUMBAI MAHARASHTRA 400069 INDIA |
|
6 |
B76391374 |
10060017 |
State Bank of India |
07/07/2007 |
13/10/2008 |
16/05/2013 |
348400000.0 |
KANDIVILI INDUSTRIAL ESTATE BRANCH KANDIVILI (WEST) MUMBAI MAHARASHTRA 400067 INDIA |
|
7 |
B62122411 |
90357487 |
KARNATAKA BANK LIMITED |
19/03/1999 |
- |
07/11/2012 |
4000000.0 |
FORT BRANCH BOMBAY MAHARASHTRA INDIA |
|
8 |
B42203158 |
90307687 |
ICICI BANKING CORPORATION LIMITED |
01/10/1997 |
10/10/2001 |
22/06/2012 |
385000000.0 |
110 MAHATMA GANDHI SALAI CHENNAI TAMILNADU 600034 INDIA |
|
9 |
B42202754 |
90305545 |
ICICI BANK LIMITED |
09/03/2005 |
- |
22/06/2012 |
230000000.0 |
NO. 110; PRAKASH PRESIDIUMNUNGAMBAKKAM HIGH ROAD CHENNAI TAMILNADU 600034 INDIA |
|
10 |
B42202069 |
90283388 |
ICICI BANK LIMITED |
28/01/1988 |
05/03/2005 |
22/06/2012 |
240000000.0 |
112 MAHATMA GANDHI ROAD NUNGAMBAKKAM CHENNAI TAMILNADU 600034 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Outstanding letters of
credit with Bankers favouring Company’s
Suppliers are as below: |
|
|
|
-
Indian Rupees |
0.000 |
6.966 |
|
Claims
against the Company Not acknowledged as Debts: |
|
|
|
Service
Tax matters in Appeal |
3932.626 |
5.697 |
|
Penalty
for Non-fulfillment of Export Obligations and the anticipated
customs duty liability |
34.457 |
57.972 |
|
The
demand raised by the ESIC department against which Company
had filed an appeal before ESI Court, Gurgaon. (Amount
deposited INR 0.418) |
1.628 |
1.628 |
|
Liquidated
damages deducted by customers not accepted by the Company
and pending settlement |
45.384 |
35.792 |
|
Show
Cause Notices Not acknowledged as Debts: |
|
|
|
Service
Tax |
34.462 |
1580.935 |
|
Sales Tax |
3.464 |
1.516 |
|
Excise |
89.317 |
84.683 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Computer Equipment
- Office Equipment
Intangible assets
- Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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 64.82 |
|
UK Pound |
1 |
INR 79.94 |
|
Euro |
1 |
INR 90.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.