|
|
|
MIRA INFORM REPORT
|
Report No. : |
484345 |
|
Report Date : |
08.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA DEFENCE SYSTEMS LIMITED DEFENCE LAND SYSTEMS INDIA LIMITED
AMALGAMATED WITH MAHINDRA DEFENCE SYSTEMS LIMITED |
|
|
|
|
Formerly Known
As : |
DEFENCE LAND SYSTEMS INDIA LIMITED (w.e.f 24.11.2014) DEFENCE LAND SYSTEMS INDIA PRIVATE LIMITED (w.e.f 30.12.2009) MAHINDRA DEFENCE LAND SYSTEMS PRIVATE LIMITED |
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|
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Registered
Office : |
Mahindra Towers, P.K. Kurne Chowk, Worli, Mumbai – 400018, Maharashtra |
|
Tel. No.: |
91-22-24905632/20 |
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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 : |
04.03.2009 |
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|
|
|
Com. Reg. No.: |
11-190702 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 149.332 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U75220MH2012PLC233889 |
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|
|
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IEC No.: |
0309027241 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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GSTIN : |
Not Divulged |
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|
|
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PAN No.: [Permanent Account No.] |
AAICM0849A |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is engaged in design, development, manufacture, supply, dealing, operating, trading, overhaul, repair, maintenance and service of all kinds of defence vehicle and other defence equipment including training to armed forces people through specific equipments. The Company is also engaged in business of consultancy, training, implementation, management and audit in the areas of information security, physical security, homeland security, critical infrastructure security, IT systems and network security, applications security, web and software security, change management and training, business continuity, disaster recovery, governance, loss prevention, fraud risk management, forensics, third party assessment and other allied areas with the objective of derisking the business and mitigation of loss arising from such security Risks. (Registered activity) |
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|
|
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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)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Mahindra and Mahindra Limited”.
The company was incorporated in the year 2012. Management has failed to file its financials with Registrar of
Companies for the FY 2017. As per the available financials of 2016, the revenue of the company
has decreased by 31.81% and has incurred operational loss. The sound financial profile of the company is marked by adequate
networth base along with negligible debt level. Rating takes into consideration equity infused by its promoters. Rating also takes into account the strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced management team. Business is active. Payments are reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. Note: The Mumbai Bench of the National Company Law Tribunal has
sanctioned a scheme of amalgamation of Defence Land System India Limited
(DLSIL) with its parent company, Mahindra Defence Systems Limited (MDSL)”.
The certified copy of the order sanctioning the scheme was electronically
filed by DLSIL and MDSL with the Registrar of Companies, Mumbai on October
18, 2017. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 08.01.2018
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 DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.:
91-22-24905632 / 20
LOCATIONS
|
Registered Office : |
Mahindra Towers, P.K. Kurne Chowk, Worli, Mumbai – 400018, Maharashtra,
India |
|
Tel. No.: |
91-22-24905620/ 24905828 / 24905632 |
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Fax No.: |
91-22-24983696 |
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E-Mail : |
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Website : |
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Factory: |
Located at: · Palwal |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Shriprakash Shukla |
|
Designation : |
Managing Director |
|
Address : |
C-Wing,Flat - 2202, Chaitanya Towers, Appasaheb Marathe Marg, Prabhadevi, Opposite Sidhivina Yak Temple, Mumbai |
|
Date of Birth/Age : |
03.10.1959 |
|
Qualification : |
MBA |
|
Date of Appointment : |
29.04.2013 |
|
PAN No.: |
AMAPS1812N |
|
DIN No.: |
00007418 |
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|
|
|
Name : |
Mr. Zhooben Dosabhoy Bhiwandiwala |
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Designation : |
Director |
|
Address : |
S-13, Cusrow Baug Shahid Bhagat Singh Road, Colaba, Mumbai – 400039, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1959 |
|
Qualification : |
CA |
|
Date of Appointment : |
30.07.2012 |
|
PAN No.: |
AADPB5164F |
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DIN No.: |
00110373 |
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|
|
|
Name : |
Mr. Parthasarathy Vankipuram Srinivasa |
|
Designation : |
Director |
|
Address : |
501-502, Mayfair Bliss, Lena Cottage Co-Operative Housing Society Limited,7th Road, Khar West Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1962 |
|
Qualification : |
CA |
|
Date of Appointment : |
30.07.2012 |
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PAN No.: |
AADPV5236G |
|
DIN No.: |
00125299 |
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|
|
|
Name : |
Mr. Ramkrishna Subbaraman |
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Designation : |
Director |
|
Address : |
A 103 Belvedere Towers DLF City, Phase II, Gurugram - 122002, Haryana, India |
|
Date of Appointment : |
26.03.2014 |
|
DIN No.: |
02091639 |
|
|
|
|
Name : |
Ms. Neelam Deo |
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Designation : |
Director |
|
Address : |
86, First Floor, Sunder Nagar, New Delhi 110003, India |
|
Date of Appointment : |
02.05.2017 |
|
DIN No.: |
02817083 |
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|
|
|
Name : |
Mr. Jaswinder Pal Singh |
|
Designation : |
Director |
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Address : |
House No.55, Mansa Devi Complex, Sector-4 Panchkula Manas Devi Sec-5, Panchkula, H Aryana, Panchkula – 134114, Haryana, India |
|
Date of Appointment : |
02.05.2017 |
|
DIN No.: |
07138659 |
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|
|
|
Name : |
Mr. Sukhvindar Deep Singh Hayer |
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Designation : |
Additional Director |
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Address : |
N 403, Vivek Vihar Awho Flats, Sector 82, Gautam Budh Nagar, Noida - 201301, Uttar Pradesh, India |
|
Date of Appointment : |
08.11.2017 |
|
DIN No.: |
07272511 |
KEY EXECUTIVES
|
Name : |
Mr. Mukul Verma |
|
Designation : |
Chief Finance Officer |
|
Address : |
97, Akash Kunj Apartments, Plot-14, Sec-9, Rohini, Delhi -
110085, India |
|
Date of Appointment : |
26.03.2014 |
|
PAN No.: |
AAXPV0241R |
|
|
|
|
Name : |
Mr. Rajesh Digambar Parte |
|
Designation : |
Company Secretary |
|
Address : |
Building No.4A, Flat No-404 Kalpak Estate, S.M. Road,
Antop Hill, Mumbai – 400037, Maharashtra, India |
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Date of Birth/Age : |
13.06.1970 |
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Date of Appointment : |
17.02.2015 |
|
PAN No.: |
AAEPP2153P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Mahindra and Mahindra Limited, India |
|
14933242 |
|
V.S. Parthasarathy (Nominee of Mahindra and Mahindra Limited, India) |
|
1 |
|
Zhooben Bhiwandiwala (Nominee of Mahindra and Mahindra Limited, India) |
|
1 |
|
Durgashankar Subramaniam (Nominee of Mahindra and Mahindra Limited,
India) |
|
1 |
|
K. Chandrasekar (Nominee of Mahindra and Mahindra Limited, India) |
|
1 |
|
Rajeev Dubey (Nominee of Mahindra and Mahindra Limited, India) |
|
1 |
|
Narayan Shankar (Nominee of Mahindra and Mahindra Limited, India) |
|
1 |
|
Total |
|
14933248 |
Equity Share Break up (Percentage of Total Equity)
As on 02.08.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in design, development, manufacture, supply, dealing, operating, trading, overhaul, repair, maintenance and service of all kinds of defence vehicle and other defence equipment including training to armed forces people through specific equipments. The Company is also engaged in business of consultancy, training, implementation, management and audit in the areas of information security, physical security, homeland security, critical infrastructure security, IT systems and network security, applications security, web and software security, change management and training, business continuity, disaster recovery, governance, loss prevention, fraud risk management, forensics, third party assessment and other allied areas with the objective of derisking the business and mitigation of loss arising from such security Risks. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
7TH Floor, Building10, Tower-B, DLF Cyber City Complex DLF City Phase – II, Gurugram - 122002, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD2095B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
L65990MH1945PLC004558 |
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Subsidiary company
: |
U75144MH2012PTC231267
U75302MH2013PLC242268 |
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Fellow subsidiary
and associate Company: |
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|
Fellow Subsidiary
company : |
U29268MH2009PLC190702
L65921MH1991PLC059642
U34100MH2007PLC171151
U74999MH2011PTC212468
U63000MH2007PLC173466
L55101TN1996PLC036595
U74990MH2010PTC207854
U01400MH2000PLC125781
|
CAPITAL STRUCTURE
After 02.08.2017
Authorised Capital : INR 2900.000 Million
Issued, Subscribed & Paid-up Capital : INR 149.332 Million
As on 02.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14933248 |
Equity Shares |
INR 10/- each |
INR 149.332 Million |
|
|
|
|
|
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
INR 10/- each |
INR 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8462005 |
Equity Shares |
INR 10/- each |
INR 84.620
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 |
84.620 |
71.693 |
42.535 |
|
(b) Reserves and Surplus |
905.842 |
701.824 |
290.900 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
22.200 |
|
Total
Shareholders’ Funds (1) + (2) |
990.462 |
773.517 |
355.635 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
19.150 |
16.405 |
13.129 |
|
Total Non-current
Liabilities (3) |
19.150 |
16.405 |
13.129 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
110.355 |
0.000 |
0.000 |
|
(b) Trade
payables |
105.116 |
250.695 |
57.428 |
|
(c) Other
current liabilities |
20.921 |
23.647 |
26.168 |
|
(d) Short-term
provisions |
0.758 |
0.516 |
0.385 |
|
Total Current
Liabilities (4) |
237.150 |
274.858 |
83.981 |
|
|
|
|
|
|
TOTAL |
1246.762 |
1064.780 |
452.745 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
15.578 |
16.584 |
20.396 |
|
(ii)
Intangible Assets |
0.263 |
0.000 |
3.849 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
868.313 |
627.313 |
187.313 |
|
(c) Deferred tax assets (net) |
22.785 |
14.810 |
4.869 |
|
(d)
Long-term loans and advances |
62.103 |
30.646 |
32.659 |
|
(e) Other
Non-current assets |
2.308 |
3.769 |
0.400 |
|
Total Non-Current
Assets |
971.350 |
693.122 |
249.486 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
39.230 |
|
(b)
Inventories |
3.036 |
9.655 |
1.649 |
|
(c) Trade
receivables |
164.390 |
43.289 |
86.495 |
|
(d) Cash and
bank balances |
28.016 |
236.990 |
8.901 |
|
(e)
Short-term loans and advances |
30.769 |
28.256 |
23.522 |
|
(f) Other current
assets |
49.201 |
53.468 |
43.462 |
|
Total
Current Assets |
275.412 |
371.658 |
203.259 |
|
|
|
|
|
|
TOTAL |
1246.762 |
1064.780 |
452.745 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
384.590 |
564.072 |
468.104 |
|
|
Other Income |
16.517 |
29.601 |
1.251 |
|
|
TOTAL |
401.107 |
593.673 |
469.355 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
44.304 |
133.843 |
46.779 |
|
|
Employee benefit expense |
161.052 |
146.306 |
134.147 |
|
|
CSR expenditure |
0.000 |
0.000 |
0.000 |
|
|
Other expenses |
222.171 |
307.146 |
234.230 |
|
|
TOTAL |
427.527 |
587.295 |
415.156 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(26.420) |
6.378 |
54.199 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.864 |
0.031 |
0.096 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(29.284) |
6.347 |
54.103 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.787 |
13.151 |
18.251 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(35.071) |
(6.804) |
35.852 |
|
|
|
|
|
|
|
Less |
TAX |
(11.017) |
(8.001) |
9.440 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(24.054) |
1.197 |
26.412 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
26.011 |
25.735 |
101.591 |
|
|
TOTAL EARNINGS |
26.011 |
25.735 |
101.591 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
0.942 |
0.794 |
0.000 |
|
|
Capital Goods |
0.000 |
0.000 |
0.800 |
|
|
TOTAL IMPORTS |
0.942 |
0.794 |
0.800 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
(2.84) |
0.17 |
3.68 |
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 |
|
Net cash flows from (used in) operations |
(298.613) |
219.377 |
96.376 |
|
Net cash flows from (used in) operating activities |
(315.723) |
196.195 |
73.921 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
156.02 |
28.01 |
67.44 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.34 |
13.03 |
5.41 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
865.99 |
683.66 |
448.09 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(8.70) |
0.66 |
32.87 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(1.67) |
0.38 |
2.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.19 |
0.26 |
0.19 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.11 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.24 |
0.36 |
0.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.02 |
0.02 |
0.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(9.22) |
205.74 |
564.57 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(6.25) |
0.21 |
5.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(1.93) |
0.11 |
5.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(2.43) |
0.15 |
7.43 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.16 |
1.35 |
2.42 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.15 |
1.32 |
2.40 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.79 |
0.73 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.30 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.16 |
1.35 |
2.42 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are 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 |
42.535 |
71.693 |
84.620 |
|
Reserves & Surplus |
290.900 |
701.824 |
905.842 |
|
Net worth |
355.635 |
773.517 |
990.462 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
110.355 |
|
Total
borrowings |
0.000 |
0.000 |
110.355 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.111 |
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 |
468.104 |
564.072 |
384.590 |
|
|
0.000 |
20.501 |
(31.819) |
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 |
468.104 |
564.072 |
384.590 |
|
Profit/ (Loss) |
26.412 |
1.197 |
(24.054) |
|
|
5.64
% |
0.21
% |
(6.25
%) |
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 |
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 |
No |
|
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 |
CORPORATE INFORMATION
Mahindra Defence Systems Limited is a Public Limited Company incorporated on July 30, 2012 under the Companies Act, 1956. The Company is a wholly owned subsidiary of Mahindra and Mahindra Limited. The Company is engaged in design, development, manufacture, supply, dealing, operating, trading, overhaul, repair, maintenance and service of all kinds of defence vehicle and other defence equipment including training to armed forces people through specific equipments. The Company is also engaged in business of consultancy, training, implementation, management and audit in the areas of information security, physical security, homeland security, critical infrastructure security, IT systems and network security, applications security, web and software security, change management and training, business continuity, disaster recovery, governance, loss prevention, fraud risk management, forensics, third party assessment and other allied areas with the objective of derisking the business and mitigation of loss arising from such security Risks.
OPERATIONS
The Company is actively pursuing major opportunities in Homeland Security business and has responded to various Request for Proposals issued by State Governments.
During the year, the Company has finalized the contract negotiations with Indian Ministry of Defence for training services on C130-J Aircraft Simulator.
The Company has also been selected by The Boeing Company (USA) as sub-contractor for training service support for Simulator of C17 Aircraft to the Air Force Pilots.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G29624764 |
10468271 |
HDFC BANK LIMITED |
01/11/2013 |
21/11/2016 |
- |
4500000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL WEST, MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
B01603752 |
10258928 |
HDFC BANK LIMITED |
25/11/2010 |
- |
- |
200000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL WEST, MUMBAI – 400013, MAHARASHTRA, INDIA |
|
3 |
C79622726 |
10616438 |
HDFC BANK LIMITED |
11/01/2016 |
- |
17/02/2016 |
2920000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL WEST, MUMBAI – 400013, MAHARASHTRA, INDIA |
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.39 |
|
|
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
SUJ |
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.