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%2001-Jan-2018_files/image002.jpg){kind=small}
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MIRA INFORM REPORT
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Report No. : |
483884.2 |
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Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
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Name : |
VIDEOCON INDUSTRIES LIMITED (w.e.f.10.11.2003) |
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Formerly Known
As : |
VIDEOCON LEASING AND INDUSTRIAL FINANCE LIMITED (w.e.f. 14.02.1991) ADHIGAM TRADING PRIVATE LIMITED |
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Registered
Office : |
14 K.M. Stone,
Aurangabad Paithan Road, Village Chittegaon, Taluka Paithan, Aurangabad –
431105, Maharashtra |
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Tel. No.: |
91-2431-251501 |
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Country : |
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Financials (as
on) : |
31.03.2017 [15 Months] |
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Date of
Incorporation : |
04.09.1986 |
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Com. Reg. No.: |
11-103624 |
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Capital
Investment / Paid-up Capital : |
INR 3344.590 Million |
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CIN No.: [Company Identification
No.] |
L99999MH1986PLC103624 |
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IEC No.: |
0388180536 |
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GSTIN/UIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCV4012H |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The company is engaged in the manufacture and trading of consumer electronics and home appliances items it’s include consumer electronics and home appliances; crude oil and natural gas; telecommunications; power and insurance. [Registered Activity] Manufacturer,
exporter and importer of color pitcher, tubes and cathode ray tube glasses
etc. [Confirmed by management] |
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No. of Employees
: |
5770 (Approximately) |
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Delayed and default |
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Litigation : |
Exist |
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Comments : |
Videocon Industries Limited (VIL) is the flagship company of the Videocon group. Incorporated in 1986, VIL is a diversified company having a presence in oil and gas, consumer electronics and telecommunications. For the financial year 2017, the company has registered decrease in its revenue from operation as compared to previous year and reported heavy losses. The company’s weak financial profile is reflected by its below average solvency indicators due to high leverage balance sheet profile and poor liquidity position. Quarter ended result of June 2017, the company has shown deterioration in its revenue profile and reported losses. Rating constrained on account of deterioration in its operational and financial performance, huge sizeable debt repayments have affected the liquidity profile of the company leading to continued delays in servicing of debt obligations by the company. Further, the Company has been facing severe stress in its debt servicing from past few years. The company has postponement its oil production due to decline in crude prices. During the same period, the revenue from Consumer Electronics and Home Appliances (CEHA) segment witnessed de-growth. Additionally, delay in receipts of proceeds from sale of telecom assets. Banks are putting pressure on the promoters of debt-laden Videocon Industries Limited to strip some of its assets in order to lighten its debt burden of over INR 430000.000 million. Dena Bank declared the account of Videocon Industries as NPA in the March quarter. Punjab National Bank has reportedly declared its loan to the company as NPA. Business is active. Payments are reported as delayed and default. In view of the aforesaid, the company can be considered for business dealings with safe and secure conditions. NOTE: Management of the company has changed its financial year from December 2015 to March 2017 ranging from (January 2016-March 2017) financial are of 15 months. |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 01.01.2018
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 PARTED BY
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Name : |
Mr. Sanjay |
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Designation : |
Accounts Executive |
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Contact No.: |
91-22-66113500 |
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Date : |
30.12.2017 |
LOCATIONS
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Registered Office / Factory 1 : |
14 K.M. Stone,
Aurangabad Paithan Road, Village Chittegaon, Taluka Paithan, Aurangabad –
431105, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
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Tel. No.: |
91-22-66113500 |
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Fax No.: |
91-22-66551985 / 66113600 |
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Corporate Office 2 : |
296, Udyog Vihar Phase-II, Gurugram, Haryana, India |
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Factory 2 : |
Village: Chavaj,
Via Society Area, Taluka and District: Bharuch – 392002, Gujarat, India |
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Factory 3 : |
Vigyan Nagar, Industrial Area, Opposite RIICO Office, Shahjahanpur,
District Alwar – 301706, Rajasthan, India |
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Factory 4 : |
Videocon Narmada Glass Division, Videocon House, Village
Chavaj, District Bharuch – 392002, Gujarat, India |
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Factory 5 : |
S-23-24, Electronics GIDC,Sector-26, Gandhinagar, Ahmedabad – 382326, Gujarat, India |
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New Delhi Office : |
Videocon Tower, 12th Floor, Rani Jansi Marg, E-1 Jhandewalan Extension, New Delhi – 110055, India |
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Tel. No.: |
91-11-41593100 |
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Fax No.: |
91-11-41593150/ 23616593 |
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Project Office : |
42, Thirumalai Pillai Road, 1st Floor, T. Nagar, Chennai – 600017, Tamilnadu, India |
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Tel. No.: |
91-44-28343180 |
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Fax No.: |
91-44-28340950 |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Venugopal
Nandlal Dhoot |
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Designation : |
Managing director |
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Address : |
90, Manav Mandir,
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Date of Birth/Age : |
30.09.1951 |
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Qualification : |
Bachelor of Engineering |
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Date of Appointment : |
01.09.2015 |
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DIN No.: |
00092450 |
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Name : |
Mr. Subhash Shamsunder Dayama |
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Designation : |
Director |
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Address : |
PL. 16B, Vasant Tara Colony, Nr. Matoshri Jogging Park, Ahmednagar – 414001, Maharashtra, India |
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Date of Birth/Age : |
05.05.1961 |
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Qualification : |
Bachelor of Commerce |
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Date of Appointment : |
14.05.2016 |
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DIN No.: |
00217692 |
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Name : |
Mrs. Sarita Sanjay Surve |
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Designation : |
Additional Director |
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Address : |
Sadafuli Building Flat No.B-8, Tirupati Npark Gurusahani Nagar, N-4, Cidco, Aurangabad – 431001, Maharashtra, India |
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Date of Appointment : |
11.02.2017 |
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DIN No.: |
07728829 |
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Name : |
Mr. Radheyshyam Dalchand Agarwal |
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Designation : |
Director |
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Address : |
A-102, Chaitanya Towers, Near Karur Vysya Bank, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
02.10.1942 |
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Date of Appointment : |
30.03.2009 |
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DIN No.: |
00012594 |
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Name : |
Mr. Sanjiv Kumar Sachdev |
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Designation : |
Nominee Director |
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Address : |
H-53, Maker Kundan Garden, Juhu Tara Road, Santa Cruz
(West), Mumbai – 400049, Maharashtra, India |
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Date of Appointment : |
22.09.2017 |
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DIN No.: |
02428623 |
KEY EXECUTIVES
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Name : |
Mr. Mandar Chintaman Joshi |
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Designation : |
Company Secretary |
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Address : |
516-A ˝, Narayan Peth Near Patrya Maruti Temple, Pune –
411030, Maharashtra, India |
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Date of Appointment : |
11.02.2017 |
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PAN No.: |
ALEPJ6816G |
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PAN No.: |
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Name : |
Mr. Sanjay |
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Designation : |
Accounts Executive |
SHAREHOLDING PATTERN
AS ON September 2017
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Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
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Promoter &
Promoter Group |
196185579 |
58.66 |
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Public |
138273296 |
41.34 |
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Grand Total |
334458875 |
100.00 |
%2001-Jan-2018_files/image008.gif)
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
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Individuals/Hindu
undivided Family |
564233 |
0.17 |
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Rajkumar Nandlal
Dhoot |
134592 |
0.04 |
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Pradipkumar
Nandlal Dhoot |
156808 |
0.05 |
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Venugopal Nandlal
Dhoot |
89575 |
0.03 |
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Kesharbai Nandlal
Dhoot |
8210 |
0.00 |
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Sushma R Dhoot |
14942 |
0.00 |
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Nalinibai
Pradipkumar Dhoot |
14934 |
0.00 |
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Ramabai Venugopal
Dhoot |
14097 |
0.00 |
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Anirudha
Venugopal Dhoot |
8098 |
0.00 |
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Saurabh
Pradipkumar Dhoot |
18088 |
0.01 |
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Sushmabai
Rajkumar Dhoot |
50624 |
0.02 |
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Akshay Rajkumar
Dhoot |
54265 |
0.02 |
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Any Other
(Specify) |
195621346 |
58.49 |
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Dome-Bell
Electronics India Pvt Ltd |
16181970 |
4.84 |
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Waluj Components
Pvt Ltd |
52884 |
0.02 |
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Century
Appliances Ltd |
1093110 |
0.33 |
|
Shree Dhoot
Trading And Agencies Ltd |
20874729 |
6.24 |
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Electroparts
(India) Pvt Ltd |
2302 |
0.00 |
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Force Appliances
Pvt Ltd |
1000222 |
0.30 |
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Kail Ltd |
4800110 |
1.44 |
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Cluster Trade
& Investments Pvt Ltd |
45100 |
0.01 |
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Koala Holdings
Pvt Ltd |
39966 |
0.01 |
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Value Industries
Ltd |
35411 |
0.01 |
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The Invex Pvt Ltd |
1832 |
0.00 |
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Greenfield
Appliances Pvt Ltd |
14462140 |
4.32 |
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Tekcare India Pvt
Ltd |
5252394 |
1.57 |
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Synergy
Appliances Pvt Ltd |
15392548 |
4.60 |
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Platinum
Appliances Pvt Ltd |
14831266 |
4.43 |
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Solitaire
Appliances Pvt Ltd |
11458330 |
3.43 |
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Synlene Fabrics
Ltd |
28942 |
0.01 |
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Tangent
Electronics Pvt Ltd |
12222220 |
3.65 |
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Trend Electronics
Ltd |
2906478 |
0.87 |
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Holly- Hock
Investments Pvt Ltd |
830 |
0.00 |
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Videocon Realty
And Infrastructures Ltd |
60307101 |
18.03 |
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Evans Fraser And
Co. (India) Ltd |
3138911 |
0.94 |
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Nippon Investment
& Finance Co Pvt Ltd |
11165199 |
3.34 |
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Ce India Ltd |
54640 |
0.02 |
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Roshi Appliances
Pvt Ltd |
271725 |
0.08 |
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Leo
Communications Pvt Ltd |
986 |
0.00 |
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Sub Total A1 |
196185579 |
58.66 |
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A=A1+A2 |
196185579 |
58.66 |
Statement showing shareholding pattern of the Public shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
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Mutual Funds/ |
3832 |
0.00 |
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Foreign Portfolio
Investors |
10497479 |
3.14 |
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Financial
Institutions/ Banks |
8274328 |
2.47 |
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IDBI Bank LTD |
4665770 |
1.40 |
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OTHERS |
3608558 |
1.08 |
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Insurance
Companies |
18176140 |
5.43 |
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Life Insurance
Corporation of India |
15256515 |
4.56 |
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Sub Total B1 |
36951779 |
11.05 |
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B2) Central
Government/ State Government(s)/ President of India |
|
0.00 |
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B3)
Non-Institutions |
|
0.00 |
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Individual share
capital upto INR 0.200 million |
32049185 |
9.58 |
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Individual share
capital in excess of INR 0.200 million |
9742338 |
2.91 |
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Overseas
Depositories (holding DRs) (balancing figure) |
38835179 |
11.61 |
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Deutsche Bank
Trust Company Americas |
38835179 |
11.61 |
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Any Other
(specify) |
20694815 |
6.19 |
|
Bennett, Coleman
and Company Limited |
12284035 |
3.67 |
|
Bodies Corporate |
7739689 |
2.31 |
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NRI |
666989 |
0.20 |
|
Trusts |
4102 |
0.00 |
|
Sub Total B3 |
101321517 |
30.29 |
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B=B1+B2+B3 |
138273296 |
41.34 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in the manufacture and trading of consumer electronics and home appliances items it’s include consumer electronics and home appliances; crude oil and natural gas; telecommunications; power and insurance. [Registered Activity] Manufacturer,
exporter and importer of color pitcher, tubes and cathode ray tube glasses
etc. [Confirmed by management] |
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Products / Services
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
4000 (Approximately) |
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Bankers : |
· Allahabad Bank · Indian Bank · Andhra Bank · Indian Overseas Bank · Bank of Baroda · Oriental Bank of Commerce · Bank of India · Punjab National Bank · Bank of Maharashtra · State Bank of India · Canara Bank · Central Bank of India · The Federal Bank Limited · Corporation Bank · UCO Bank · Dena Bank · Union Bank of India · ICICI Bank Limited · United Bank of India · IDBI Bank Limited ·
Vijaya Bank |
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Facilities : |
[INR
in Million]
NOTES: LONG TERM BORROWINGS Rupee Term Loans from Banks and Financial Institutions: a) Rupee Term Loans from Banks and Financial Institutions: i) The Company along with 12 other affiliates/entities (collectively referred to as ‘Obligors’ and individually referred to as ‘Borrower’) executed facility agreement with consortium of existing domestic rupee term lenders (RTL Lenders), in the obligor/co-obligor structure, wherein all the Rupee Term Loans of the Obligors are pooled together. The Borrower entities covered are Videocon Industries Limited (VIL), Value Industries Limited, Trend Electronics Limited, KAIL Limited, Millennium Appliances India Limited, Applicomp (India) Limited, Sky Appliances Limited, Techno Electronics Limited, Century Appliances Limited, PE Electronics Limited, Techno Kart India Limited, Evans Fraser and Co. (India) Limited and Electroworld Digital Solutions Limited (formerly Videocon International Electronics Limited). Further, Videocon Telecommunications Limited (VTL), subsidiary of the Company had availed financial assistance from consortium of Banks/Financial Institutions (VTL Lenders). It has been agreed between the RTL Lenders and VTL Lenders to share the security available to the RTL Lenders under the RTL Agreement (including the receivables from each of the Obligors) with the VTL Lenders under the VTL facility agreement (including the receivables from VTL) on a reciprocal first pari-passu charge basis. Thus, VTL is also inducted as co-obligor in the said facility agreement with the consortium of RTL Lenders. Loans amounting to INR 164042.660 Million (As at 31st December, 2015 INR 165314.260 Million) are secured by first pari-passu charge on all present and future tangible/intangible assets (excluding the Identified Properties) of each of the Borrower, first pari-passu charge on the Trust and Retention Accounts of the Borrowers, second pari-passu charge on Identified Assets of Videocon Hydrocarbon Holdings Limited’s (VHHL) subsidiaries through pledge of entire shareholding of VHHL in these overseas subsidiaries, second charge on pledge of 100% shares of Videocon Oil Ventures Limited and VHHL, second pari-passu charge on VHHL’s share of cash flows from Identified Assets and second pari-passu charge over current assets of each of the Borrowers. The Rupee Term Loans are also secured by first ranking pledge over specified numbers of equity shares of Videocon Industries Limited, Trend Electronics Limited and Value Industries Limited held by the Promoters, the personal guarantee of Mr. Venugopal N. Dhoot, Mr. Pradipkumar N. Dhoot, Mr. Rajkumar N. Dhoot and first pari-passu charge on ‘Videocon’ brand. After induction of VTL as a co-obligor, the loans are further secured by first pari-passu charge on existing and future assets of VTL, assignment of all telecom licenses held by VTL by way of tripartite agreement to be executed between the Department of Telecommunications, VTL and VTL Lenders. ii) Loans amounting to INR Nil (As at 31st December, 2015 INR 461.310 Million) is secured by mortgage of immovable assets and first charge on movable assets, cash flows and intangible assets pertaining to the 5.75 MW Multi Crystalline Silicon Photovoltaic Technology Project at Warora. iii) Loans amounting to INR 15506.250 Million (As at 31st December, 2015 INR 17387.500 Million) are secured by first pari-passu charge on book debts of consumer electronics and home appliances division which are not charged to bankers for securing working capital loans and first pari-passu charge on equitable mortgage of specified properties owned by the Company and owned by other 6 entities. The loans are further secured by personal guarantees of Mr. Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot and corporate guarantees of the entities whose properties have been mortgaged. iv) Loans amounting to INR Nil (As at 31st December, 2015 INR 1850.000 Million) is secured by subservient charge on current assets of the Company, pledge of equity shares of Videocon Industries Limited held by other entities and personal guarantee of Mr. Venugopal N. Dhoot. v) Loans amounting to INR Nil (As at 31st December, 2015 INR 1500.000 Million) is secured by subservient charge on current assets of the Company, extension of pledge of equity shares of Videocon Industries Limited mentioned in note no. (iv) above and pledge of equity shares of Videocon d2h Limited held by other entities, mortgage of properties owned by other entities and personal guarantee of Mr. Venugopal N. Dhoot. vi) Loans amounting to INR 1500.000 Million (As at 31st December, 2015 INR 1500.000 Million) is secured by mortgage of specified property owned by the Company, negative lien on property owned by other entities and personal guarantees of Mr. Venugopal N. Dhoot and Mr. Pradipkumar N. Dhoot. b) Vehicle Loan from Banks are secured by way of hypothecation of Vehicles acquired out of the said loan. The loans are also secured by personal guarantee of Mr. Venugopal N. Dhoot. c) The Company has issued 4.30 per cent Foreign Currency Convertible Bonds (Bonds) of US$ 97,200,000 during the year 2015, due on 31st December, 2020 (Maturity Date). These Bonds were issued under the exchange offer to the holders of the Bonds of US$ 194,400,000 due on 16th December, 2015. i) The Bonds are convertible at the option of the bondholders into shares, at any time on and after 9th February, 2016, up to the close of business on 21st December, 2020, at a fixed exchange rate on conversion of INR 66.139 per US$ 1.00 and at initial conversion price of INR 134.724 per share. The conversion price will be subject to adjustment for, among other things, subdivision or consolidation of shares, bonus issues, dividends, rights issues, distributions and other dilutive events. ii) The Bonds were redeemable at the option of the holders on 30th June, 2016 (Put Option Date). The Company made a partial pre-payment of US$ 22,000,000 on pro-rata basis to all the bondholders on 3rd August, 2016 in pursuance to the approval of bondholders and approval from Reserve Bank of India. Further, the coupon rate was revised to 2.80 per cent payable semi-annually and the put option date was amended to 30th December, 2016. Maturity Profile:
The Company has made certain defaults in repayment of term loans and interest. The details of continuing defaults as at 31st March, 2017 are as follows:
SHORT TERM BORROWINGS a) Short Term Loans from Banks amounting to INR Nil (As at 31st December, 2015 INR 1500.000 Million) are secured by first pari-passu charge on book debts of consumer electronics and home appliances division which are not charged to bankers for securing working capital loans. The loan is further secured by personal guarantee of Mr. Venugopal N. Dhoot, Mr. Pradipkumar N. Dhoot and Mr. Rajkumar N. Dhoot. b) Overdraft facility amounting to INR Nil (As at 31st December, 2015 INR 20160.000 Million) is secured against fixed deposits held by the Company. c) Working Capital Loans from Banks are secured by hypothecation of the Company’s stock of raw materials, packing materials, stock-in-process, finished goods, stores and spares, book debts of Glass Shell Division and personal guarantee of Mr. Venugopal N. Dhoot, Mr. Pradipkumar N. Dhoot and Mr. Rajkumar N. Dhoot. d) Loans from Others amounting to INR 13.390 Million (As at 31st December, 2015 INR Nil) is secured against surrender value of Key Man Insurance Policy. |
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Auditors 1 : |
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Name : |
Khandelwal Jain and Company Chartered Accountants |
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Address : |
12-B, Baldota Bhavan, 117, Maharshi Karve Road, Opposite Churchgate Railway Station, Mumbai – 400020, Maharashtra, India |
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Auditors 2 : |
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Name : |
Kadam and Company Chartered Accountants |
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Address : |
“Vedant”, 8/9, Viraj Estate, Opposite Tarakpur Bus Stand Ahmednagar – 414003, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
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|
Subsidiaries : |
a) Chhattisgarh Power Ventures Private Limited b) Liberty Videocon General Insurance Company Limited c) Middle East Appliances LLC d) Pipavav Energy Private Limited e) Prosperous Energy Private Limited f) Videocon Electronics (Shenzhen) Limited (Chinese Name - Weiyoukang Electronic (Shenzhen) Co., Ltd.) g) Videocon Global Limited h) Videocon Oil Ventures Limited and its subsidiaries - Videocon Hydrocarbon Holdings Limited and its subsidiaries - Videocon JPDA 06-103 Limited - Videocon Indonesia Nunukan Inc. - Videocon Energy Brazil Limited - Videocon Australia WA-388-P Limited - Videocon Mauritius Energy Limited - Videocon International Cooperatie U.A. and its subsidiaries - Videocon Hydrocarbon Ventures B.V. - Videocon Brazil Ventures B.V. and its subsidiary - Videocon Brasil Petroleo Ltda i) Electroworld Digital Solutions Limited (formerly Videocon International Electronics Limited) and its subsidiaries - Jumbo Techno Services Private Limited - Senior Consulting Private Limited - Videocon Telecommunications Limited and its subsidiary - Videocon Easypay Private Limited (formerly Datacom Telecommunications Private Limited) j) Videocon Energy Limited and its subsidiary - Profi cient Energy Private Limited and its subsidiary - Applied Energy Private Limited and its subsidiaries - Comet Power Private Limited (upto 31st December, 2016) and its subsidiaries - Indigo Energy Private Limited (upto 31st December, 2016) - Percept Energy Private Limited (upto 31st December, 2016) |
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|
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Associates and
Joint Ventures : |
- Radium Appliances Private Limited - Associate - 26% - Unity Power Private Limited - Associate - 26% - Videocon Infi nity Infrastructure Private Limited - Joint Venture - 50% - IBV Brasil Petroleo Limitada - (50% Joint Venture of Videocon Energy Brazil Limited) |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Share |
INR 10/- each |
INR 5000.000 Million |
|
10000000 |
Redeemable Preference shares |
INR 100/- each |
INR 1000.000 Million |
|
|
Total |
|
INR 6000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
334458875 |
Equity Share |
INR 10/- each |
INR 3344.590 Million |
|
|
|
|
|
Reconciliation of the
Number of Equity Shares:
|
Particulars |
Number
of Shares |
Amount
|
|
Equity Shares of INR 10/- each |
|
|
|
Outstanding at the beginning of the period/year |
334458875 |
3344.590 |
|
Issued during the period/year |
-- |
-- |
|
Outstanding at the end of the period/year |
334458875 |
3344.590 |
Rights, Preference
and Restrictions:
a) The Company has only one class of equity shares having par value of INR 10/- per share. Each holder of equity shares is entitled to equal right of voting and dividend.
b) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of
Shareholders holding more than 5% of Equity Shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Dome-Bell Electronics India Private Limited |
16408315 |
4.91 |
|
Shree Dhoot Trading and Agencies Limited |
26179336 |
7.83 |
|
Videocon Realty and Infrastructures Limited |
63945518 |
19.12 |
|
Deutsche Bank Trust Company Americas (As depository of Global Deposits Receipts) |
38835179 |
11.61 |
FINANCIAL DATA
[all figures are INR
Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
31.12.2014 [18 Months] |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3344.590 |
3344.590 |
3344.590 |
|
(b) Reserves & Surplus |
80566.110 |
99722.860 |
100280.910 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
- Grant for Ozone
Project |
56.320 |
61.420 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
83967.000 |
103128.870 |
103625.500 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
171941.910 |
185884.280 |
180258.370 |
|
(b) Deferred tax liabilities (Net) |
3668.450 |
7043.520 |
7092.510 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
1647.070 |
2098.850 |
1971.060 |
|
Total
Non-current Liabilities (3) |
177257.430 |
195026.650 |
189321.940 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
23117.340 |
43122.050 |
46440.440 |
|
(b)
Trade payables |
19048.840 |
11648.650 |
11524.700 |
|
(c)
Other current liabilities |
53315.620 |
25167.280 |
29785.600 |
|
(d)
Short-term provisions |
678.640 |
670.180 |
963.150 |
|
Total
Current Liabilities (4) |
96160.440 |
80608.160 |
88713.890 |
|
|
|
|
|
|
TOTAL |
357384.890 |
378763.680 |
381661.330 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
49726.340 |
55152.670 |
58778.750 |
|
(ii)
Intangible Assets |
212.700 |
301.540 |
547.600 |
|
(iii)
Capital work-in-progress |
4903.810 |
7143.590 |
7292.920 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
102394.710 |
89947.070 |
56208.880 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
36454.250 |
40130.780 |
79170.730 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
193691.810 |
192675.650 |
201998.880 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
52.000 |
60.390 |
|
(b)
Inventories |
28635.190 |
23592.010 |
24040.990 |
|
(c)
Trade receivables |
24003.150 |
28585.190 |
28627.620 |
|
(d)
Cash and cash equivalents |
5532.850 |
26761.010 |
24496.960 |
|
(e)
Short-term loans and advances |
104884.610 |
105326.840 |
101252.440 |
|
(f)
Other current assets |
637.280 |
1770.980 |
1184.050 |
|
Total
Current Assets |
163693.080 |
186088.030 |
179662.450 |
|
|
|
|
|
|
TOTAL |
357384.890 |
378763.680 |
381661.330 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
31.12.2014 [18 Months] |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
123294.010 |
124182.130 |
189676.030 |
|
|
|
|
Other Income |
4991.990 |
8443.330 |
11651.420 |
|
|
|
|
TOTAL |
128286.000 |
132625.460 |
201327.450 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
44284.720 |
40733.040 |
60550.050 |
|
|
|
|
Purchase of Stock-in-trade |
43055.270 |
39919.330 |
59621.350 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
211.700 |
208.960 |
(1035.790) |
|
|
|
|
Employee Benefits Expenses |
3757.070 |
2834.320 |
4361.740 |
|
|
|
|
Other expenses |
4072.890 |
13844.090 |
19355.100 |
|
|
|
|
Production and Exploration Expenses – Oil and Gas |
17143.600 |
4991.030 |
13381.980 |
|
|
|
|
TOTAL |
112525.250 |
102530.770 |
156234.430 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
15760.750 |
30094.690 |
45093.020 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
30977.340 |
23684.590 |
35188.960 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(15216.590) |
6410.100 |
9904.060 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
7315.230 |
7017.140 |
9858.110 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(22531.820) |
(607.040) |
45.950 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
(3375.070 |
(48.990) |
15.550 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(19156.750) |
(558.050) |
30.400 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
F.O.B. Value of Exports |
5625.730 |
3768.870 |
6955.650 |
|
|
|
|
Others (including reimbursement of Expenses) |
4837.000 |
6169.390 |
24073.500 |
|
|
|
TOTAL EARNINGS |
10462.730 |
9938.260 |
31029.150 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
30656.210 |
19573.170 |
30875.550 |
|
|
|
|
Capital Goods (including advances) |
190.150 |
127.000 |
225.980 |
|
|
|
TOTAL IMPORTS |
30846.360 |
19700.170 |
31101.530 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
(57.28) |
(1.67) |
0.08 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
31.12.2014 [18 Months] |
|
Current Maturities of Long term debt |
13996.700 |
8731.480 |
16014.800 |
|
Cash generated from operations |
49242.060 |
63768.470 |
(51794.670) |
|
Net Cash from Operating Activities |
49056.250 |
63599.920 |
(52282.680) |
QUARTERLY
RESULTS
|
Particulars |
|
|
30.06.2017 (Unaudited) |
|
|
|
|
1st
Quarter |
|
Net sales |
|
|
15986.000 |
|
Total Expenditure |
|
|
15062.900 |
|
PBIDT (Excluding Other Income) |
|
|
923.100 |
|
Other income |
|
|
435.100 |
|
Operating Profit |
|
|
1358.200 |
|
Interest |
|
|
6685.800 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
(5327.600) |
|
Depreciation |
|
|
4344.500 |
|
Profit Before Tax |
|
|
(9672.100) |
|
Tax |
|
|
(813.900) |
|
Provisions and
contingencies |
|
|
NA |
|
Profit after tax |
|
|
(8858.200) |
|
Extraordinary Items |
|
|
NA |
|
Prior Period Expenses |
|
|
NA |
|
Other Adjustments |
|
|
NA |
|
Net Profit |
|
|
(8858.200) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
31.12.2014 [18 Months] |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
71.06 |
84.02 |
55.09 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.14 |
4.34 |
6.63 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
79.61 |
52.72 |
35.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.55 |
1.28 |
1.88 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.29 |
0.48 |
0.68 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
31.12.2014 [18 Months] |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.79 |
0.73 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.49 |
2.31 |
2.34 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.15 |
0.78 |
0.86 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.65 |
0.61 |
0.64 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.51 |
1.27 |
1.28 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
31.12.2014 [18 Months] |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
(15.54) |
(0.45) |
0.02 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(5.36) |
(0.15) |
0.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(22.81) |
(0.54) |
0.03 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
31.12.2014 [18 Months] |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.70 |
2.31 |
2.03 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.40 |
2.02 |
1.75 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.23 |
0.27 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
62.51 |
71.08 |
72.57 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.70 |
2.31 |
2.03 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 19.00/- |
FINANCIAL ANALYSIS
[all figures are INR
Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2014 [18 Months] |
31.12.2015 [12 Months] |
31.03.2017 [15 Months] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
3344.590 |
3344.590 |
3344.590 |
|
Reserves & Surplus |
100280.910 |
99722.860 |
80566.110 |
|
Grant for Ozone
Project |
0.000 |
61.420 |
56.320 |
|
Net
worth |
103625.500 |
103128.870 |
83967.020 |
|
|
|
|
|
|
Long-Term Borrowings |
180258.370 |
185884.280 |
171941.910 |
|
Short Term Borrowings |
46440.440 |
43122.050 |
23117.340 |
|
Current Maturities of Long term debt |
16014.800 |
8731.480 |
13996.700 |
|
Total
borrowings |
242713.610 |
237737.810 |
209055.950 |
|
Debt/Equity
ratio |
2.342 |
2.305 |
2.490 |
%2001-Jan-2018_files/image010.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2014 [18 Months] |
31.12.2015 [12 Months] |
31.03.2017 [15 Months] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
189676.030 |
124182.130 |
123294.010 |
|
|
|
(34.529) |
(0.715) |
%2001-Jan-2018_files/image012.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2014 [18 Months] |
31.12.2015 [12 Months] |
31.03.2017 [15 Months] |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
189676.030 |
124182.130 |
123294.010 |
|
Profit/(Loss) |
30.400 |
(558.050) |
(19156.750) |
|
|
0.02% |
(0.45%) |
(15.54%) |
%2001-Jan-2018_files/image014.gif)
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 [15 Months] |
31.12.2015 [12 Months] |
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
3344.590 |
3344.590 |
|
(b) Reserves &
Surplus |
55607.140 |
77555.680 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
|
-
Minority Interest |
2476.980 |
703.580 |
|
-
Grant for
Ozone Project |
56.320 |
61.420 |
|
Total Shareholders’ Funds
(1) + (2) |
61485.030 |
81665.270 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
356156.930 |
324887.970 |
|
(b) Deferred tax
liabilities (Net) |
3668.450 |
7043.600 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
|
(d) long-term provisions |
1659.110 |
2135.800 |
|
Total Non-current
Liabilities (3) |
361484.490 |
334067.370 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
26699.610 |
49757.050 |
|
(b) Trade payables |
25453.610 |
18022.220 |
|
(c) Other current
liabilities |
84410.870 |
115736.800 |
|
(d) Short-term provisions |
3329.950 |
2452.830 |
|
Total Current Liabilities
(4) |
139894.040 |
185968.900 |
|
|
|
|
|
TOTAL |
562863.560 |
601701.540 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
51246.450 |
66517.260 |
|
(ii) Intangible Assets |
412.170 |
19572.080 |
|
(iii) Capital
work-in-progress |
158803.590 |
117797.050 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(b) Pre-Operative
Expenditure Pending Allocation |
1686.150 |
1686.290 |
|
(c) Goodwill on
Consolidation |
11082.170 |
11093.360 |
|
(d) Non-current
Investments |
40598.580 |
26340.110 |
|
(e) Deferred tax assets
(net) |
0.000 |
0.000 |
|
(f) Long-term Loan and
Advances |
34010.410 |
42132.890 |
|
(g) Other Non-current
assets |
0.000 |
0.000 |
|
Total Non-Current Assets |
297839.520 |
285139.040 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
1637.900 |
1428.670 |
|
(b) Inventories |
28660.700 |
23649.060 |
|
(c) Trade receivables |
24439.630 |
30477.790 |
|
(d) Cash and cash
equivalents |
12400.670 |
42102.650 |
|
(e) Short-term loans and
advances |
187403.380 |