|
|
|
MIRA INFORM REPORT
|
Report No. : |
485367 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CATVISION LIMITED (w.e.f. 21.03.2011) |
|
|
|
|
Formerly Known
As : |
CATVISION PRODUCTS LIMITED |
|
|
|
|
Registered Office
: |
H-17/202, 2nd Floor, Main Vikas Marg, Laxmi Nagar, Delhi –
110092 |
|
Tel. No.: |
91-120-4936750 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
28.06.1985 |
|
|
|
|
Com. Reg. No.: |
55-021374 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 54.536 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L92111DL1985PLC021374 |
|
|
|
|
IEC No.: |
0588174882 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC0249A |
|
|
|
|
TIN No.: |
07970107172 |
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|
|
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GST No.: |
07AAACC0249A1ZF |
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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
: |
· Manufacturing of sale of CATV/ SMATV [Community Antenna Television, Satellite Master Antenna Television]. IPTV system [s] and operation and maintenance of CATV Networks and Channel Marketing. · Sales, Installation and Operation of Cable TV and Energy Management Systems and Services to Hotels. (Registered Activity) [Note: Line of business is updated as per latest annual report 2017.] |
|
|
|
|
No. of Employees
: |
122 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 472600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1985 having satisfactory track record. As per the financial record of March 2017, the company has achieved decent growth in revenue as compared to its previous year but has reported average profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by adequate net worth base along with strong debt protection metrics and comfortable liquidity position. Rating are further supported by the long experience of the promoters in the television manufacturing business and its strong presence in the market. Moreover, the company is listed on BSE at the quoted price of INR 53.50 against is face value of INR 10. However, these rating strengths gets partially offset by high working capital requirement due to its presence in highly competitive electronic industry. 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. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATINGS |
|
Rating |
Fund Based Limit = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
07.02.2017 |
|
Rating Agency Name |
INDIA RATINGS |
|
Rating |
Non-Fund Based Limit = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
07.02.2017 |
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 12.01.2018
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 DECLINED BY
|
Name : |
Mr. Vinayak Trivedi |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-120-4936750 |
|
Date : |
11.01.2017 |
LOCATIONS
|
Registered Office : |
H-17/202, 2nd Floor, Main Vikas Marg, Laxmi Nagar, Delhi –
110092, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
E-14 and 15, Sector – 8, Noida – 201301, |
|
Tel. No.: |
91-120-4936750 |
|
Fax No.: |
91-120-4932776 |
|
|
|
|
Factory : |
F-87, UPSIDC Industrial Area, Selaqui, Dehradun – 248197, Uttaranchal,
India |
|
Tel. No.: |
91-135-2699054/55 |
|
|
|
|
Overseas Office : |
F-1, 110 D, Ajman Free Zone, Ajman-United Arab Emirat |
[Note: Overseas
Office has been updated as per annual report 2017.]
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Syed Athar Abbas |
|
Designation : |
Managing Director |
|
Address : |
D-1074, New Friends Colony, New Delhi - 110065, India |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00770259 |
|
|
|
|
Name : |
Mr. Sunil Anand |
|
Designation : |
Director |
|
Address : |
A-328, Sector-31, Noida - 201301, Uttar Pradesh, India |
|
Qualification : |
MBBS |
|
Experience : |
Vast Experience In Dealing In Medical Equipments |
|
Date of Appointment : |
15.07.2005 |
|
DIN No.: |
00770353 |
|
|
|
|
Name : |
Mr. Sudhir Damodaran |
|
Designation : |
Whole-Time Director |
|
Address : |
D-806, 2nd Floor, New Friends Colony, New Delhi - 110065, India |
|
Qualification : |
Science Graduate |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
01091518 |
|
|
|
|
Name : |
Mr. Raman Rajiv Misra |
|
Designation : |
Director |
|
Address : |
#3, SEC-C-5, Vasant Kunj, New Delhi - 110070, India |
|
Date of Appointment : |
31.10.2002 |
|
DIN No.: |
01602244 |
|
|
|
|
Name : |
Ms. Hina Abbas |
|
Designation : |
Director |
|
Address : |
D-1074, New Friends Colony, New Delhi - 110065, India |
|
Date of Appointment : |
12.02.2015 |
|
DIN No.: |
01980925 |
|
|
|
|
Name : |
Mr. Jagdish Prasad |
|
Designation : |
Director |
|
Address : |
283/ II, Vasant Vihar, Dehradun - 248001, Uttarakhand, India |
|
Date of Appointment : |
27.05.2013 |
|
DIN No.: |
03440960 |
KEY EXECUTIVES
|
Name : |
Mr. Vinod Singh Rawat |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-701, Subhkamana Apartment, F-31, Sector-50, Noida - 201301, Uttar Pradesh, India |
|
Date of Appointment : |
31.05.2014 |
|
PAN No.: |
AADPR4863K |
|
|
|
|
Name : |
Mrs. Ankita |
|
Designation : |
Company Secretary and Compliance Officer |
|
Address : |
21/36A, Block-21 Near Block 20 Gurudwara Tilak Nagar, New Delhi-110018, India |
|
Date of Appointment : |
17.05.2016 |
|
PAN No.: |
BGCPA1556N |
|
|
|
|
SENIOR MANAGEMENT |
|
|
Name : |
Mr. S.A. Abbas |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Hina Abbas |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Rajesh Kukreja |
|
Designation : |
Vice President (Institutional Sales) |
|
|
|
|
Name : |
Mr. Y. V. Kumar |
|
Designation : |
Vice President (Technical Services) |
|
|
|
|
Name : |
Mr. D. S. Dogra |
|
Designation : |
General Manager (Supply Chain Management) |
|
|
|
|
Name : |
Mr. Manoj Thakur |
|
Designation : |
General Manager (Direct Sales) |
|
|
|
|
Name : |
Mr. Vinod Rawat |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Vinayak Trivedi |
|
Designation : |
Accounts Department |
Note:
No Company exists for a Key Executives
·
Ms.
Anubha Samariya [Secretary]
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter &
Promoter Group |
1683293 |
30.87 |
|
|
(B) Public |
3770307 |
69.13 |
|
|
|
5453600 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated
as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
1448844 |
26.57 |
|
|
SYED ATHAR ABBAS |
710345 |
13.03 |
|
|
SUDHIR DAMODARAN |
617975 |
11.33 |
|
|
S JAMSHED ABBAS |
42780 |
0.78 |
|
|
HUSSAIN ZAIDI |
38088 |
0.70 |
|
|
CHERYL DAMODARAN |
15000 |
0.28 |
|
|
VIJAY MAHESHWARI |
8650 |
0.16 |
|
|
CHELLAPPA A |
7206 |
0.13 |
|
|
HINA ABBAS |
3000 |
0.06 |
|
|
A THANGAMMAL |
1950 |
0.04 |
|
|
ATAM PRAKASH
KHURANA |
1700 |
0.03 |
|
|
SANJEV HIREMATH |
1600 |
0.03 |
|
|
SANJAY SHARMA |
400 |
0.01 |
|
|
SUDHIR KAURA |
50 |
0.00 |
|
|
ANITA KHARE |
50 |
0.00 |
|
|
SUKARMA SOOD |
50 |
0.00 |
|
|
Any Other
(specify) |
234449 |
4.30 |
|
|
SAFETAG
INTERNATIONAL INDIA PVT LTD |
145200 |
2.66 |
|
|
TOTAL TELEMEDIA
PRIVATE LIMITED |
89249 |
1.64 |
|
|
Sub Total A1 |
1683293 |
30.87 |
|
|
A=A1+A2 |
1683293 |
30.87 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
15800 |
0.29 |
|
|
Financial
Institutions/ Banks |
1100 |
0.02 |
|
|
Sub Total B1 |
16900 |
0.31 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0.00 |
||
|
B3)
Non-Institutions |
0.00 |
||
|
Individual share
capital up to INR 0.200 Million |
1119669 |
20.53 |
|
|
Individual share
capital in excess of INR 0.200 Million |
860861 |
15.79 |
|
|
AJAY KUMAR KAYAN |
263412 |
4.83 |
|
|
DHEERAJ KUMAR
LOHIA |
81498 |
1.49 |
|
|
KULBIR SINGH |
80000 |
1.47 |
|
|
SHARAD KANAYALAL
SHAH |
72753 |
1.33 |
|
|
KAPIL CHOPRA |
66291 |
1.22 |
|
|
SATISH MEHTA |
59147 |
1.08 |
|
|
Any Other
(specify) |
1772877 |
32.51 |
|
|
VIZWISE COMMERCE
PRIVATE LIMITED |
330737 |
6.06 |
|
|
SPG FINVEST PVT
LTD |
216971 |
3.98 |
|
|
ADROIT FIN SER PVT
LTD |
54843 |
1.01 |
|
|
MARIJA VELJANOVSKA |
300000 |
5.50 |
|
|
GLOBAL IMPEX LTD |
500000 |
9.17 |
|
|
Sub Total B3 |
3753407 |
68.82 |
|
|
B=B1+B2+B3 |
3770307 |
69.13 |
BUSINESS DETAILS
|
Line of Business : |
· Manufacturing of sale of CATV/ SMATV [Community Antenna Television, Satellite Master Antenna Television]. IPTV system [s] and operation and maintenance of CATV Networks and Channel Marketing. · Sales, Installation and Operation of Cable TV and Energy Management Systems and Services to Hotels. (Registered Activity) [Note: Line of business is updated as per latest annual report 2017.] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
122 (Approximately) |
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Bankers : |
· Axis Bank Limited · ICICI Bank Limited · Oriental Bank of Commerce · Canara Bank ·
Bank of Baroda–Dubai, UAE |
|||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Gaur and Associates Chartered Accountants |
|
Address : |
F-7/204, Aditya Complex, |
|
|
|
|
Secretarial
Auditors : |
|
|
Name : |
Pramod Kothari and Company Company Secretaries |
|
Address : |
G-28C, Block-G, Kanchanjunga Apartments, Sector-53, Noida-201301, Uttar Pradesh, India |
|
|
|
|
Advocates and
Solicitors : |
|
|
Name : |
Kundra and Bansal Advocates and Solicitors |
|
Address : |
B-231, Greater Kailash-I, New Delhi- 110048, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate Companies
: |
|
|
|
|
|
Other entities over
which director/ key management personnel and their relatives are bale to
exercise significant influence : |
Total Telemedia Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
INR 10/- each |
INR 65.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5453600 |
Equity Shares |
INR 10/- each |
INR 54.536
Million |
|
|
|
|
|
Reconciliation of
Shares outstanding at the beginning and at the end of the year:
|
Particular |
AS AT 31.03.2017 |
|
|
|
No. of Shares |
Rs. In Million |
|
At the beginning of the year |
5453600 |
54.536 |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of the year |
5453600 |
54.536 |
The rights, power and preference relating to each class of shares:
The company has only one class of shares having a par value of ` 10/- per
share. Each holder of Equity Shares is
entitled to vote per share.
In the event of liquidation of the Company, the holders of equity shares
will be eligible to receive the remaining assets of the Company after
distribution of all preferential amounts. The distribution will be in
proportions to the number of equity shares held by the shareholders.
Details of shareholders holding more than 5% shares in the Company set
out as below (representing legal ownership)
|
Particular |
31.03.2017 No. of Shares |
|
S. A Abbas |
635685 |
|
Sudhir Damodaran |
617975 |
|
Vizwise Commerce Private Limited |
396737 |
|
Global Impex Limited |
500000 |
|
Marija Veljanovska |
300000 |
As per of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
LISTING DETAILS:
|
|
BSE :
531158 NSE : 0 ISIN :
INE660B01011 |
|
Stock Exchange Place : |
The Stock
Exchange, Mumbai |
|
Listed Date : |
Not Available |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
54.536 |
54.536 |
54.536 |
|
(b) Reserves & Surplus |
110.890 |
97.057 |
76.064 |
|
(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) |
165.426 |
151.593 |
130.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3.150 |
6.009 |
0.962 |
|
(b) Deferred tax liabilities (Net) |
2.880 |
3.065 |
4.153 |
|
(c)
Other long term liabilities |
2.749 |
3.446 |
2.904 |
|
(d)
long-term provisions |
5.462 |
4.326 |
3.495 |
|
Total
Non-current Liabilities (3) |
14.241 |
16.846 |
11.514 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
85.342 |
96.265 |
37.637 |
|
(b)
Trade payables |
77.446 |
33.429 |
26.369 |
|
(c)
Other current liabilities |
41.951 |
47.197 |
24.737 |
|
(d)
Short-term provisions |
10.322 |
14.164 |
4.327 |
|
Total
Current Liabilities (4) |
215.061 |
191.055 |
93.070 |
|
|
|
|
|
|
TOTAL |
394.728 |
359.494 |
235.184 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
35.253 |
34.826 |
36.926 |
|
(ii)
Intangible Assets |
0.591 |
0.322 |
0.411 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
43.584 |
37.719 |
27.302 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
6.981 |
6.619 |
4.247 |
|
(e)
Other Non-current assets |
12.125 |
10.704 |
13.641 |
|
Total
Non-Current Assets |
98.534 |
90.190 |
82.527 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.030 |
0.030 |
0.030 |
|
(b)
Inventories |
134.106 |
117.260 |
68.452 |
|
(c)
Trade receivables |
92.273 |
73.357 |
67.638 |
|
(d)
Cash and cash equivalents |
42.683 |
15.990 |
3.912 |
|
(e)
Short-term loans and advances |
27.102 |
62.667 |
12.625 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
296.194 |
269.304 |
152.657 |
|
|
|
|
|
|
TOTAL |
394.728 |
359.494 |
235.184 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
566.844 |
506.307 |
326.783 |
|
|
|
Other Income |
1.711 |
1.289 |
0.421 |
|
|
|
TOTAL |
568.555 |
507.596 |
327.204 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
238.307 |
227.227 |
60.138 |
|
|
|
Purchases of Stock-in-Trade |
183.756 |
147.688 |
131.523 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(19.989) |
(38.968) |
2.477 |
|
|
|
Employees benefits expense |
60.113 |
49.313 |
44.895 |
|
|
|
Other expenses |
48.127 |
50.893 |
38.531 |
|
|
|
Other manufacturing expenses |
24.639 |
23.963 |
31.225 |
|
|
|
Exceptional Item |
0.000 |
2.583 |
0.000 |
|
|
|
TOTAL |
534.953 |
462.699 |
308.789 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
33.602 |
44.897 |
18.415 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.287 |
8.537 |
5.646 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.315 |
36.360 |
12.769 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.861 |
4.980 |
7.054 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
21.454 |
31.380 |
5.715 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.494 |
10.567 |
0.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
13.960 |
20.813 |
5.186 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
7.972 |
6.614 |
9.958 |
|
|
|
Overseas Merchant Trade Sale |
55.980 |
8.992 |
66.234 |
|
|
|
Channel Marketing & others |
22.747 |
25.973 |
38.726 |
|
|
TOTAL EARNINGS |
86.699 |
41.579 |
114.918 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material and Traded Goods |
223.541 |
200.701 |
110.916 |
|
|
TOTAL IMPORTS |
223.541 |
200.701 |
110.916 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
2.56 |
3.82 |
0.95 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
6.654 |
3.663 |
0.991 |
|
|
|
|
|
|
Cash generated from operations |
69.873 |
(27.704) |
6.158 |
|
|
|
|
|
|
Net Cash Generated/ (Utilised) from operating activities |
55.687 |
(31.517) |
(1.551) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
59.42 |
52.88 |
75.55 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.14 |
6.90 |
4.83 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
66.98 |
32.54 |
50.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.25 |
0.38 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.94 |
1.28 |
0.49 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.57 |
0.56 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.58 |
0.70 |
0.30 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.30 |
1.26 |
0.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.22 |
0.23 |
0.29 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.61 |
5.26 |
3.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.46 |
4.11 |
1.59 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.54 |
5.79 |
2.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.44 |
13.73 |
3.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.38 |
1.41 |
1.64 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.75 |
0.80 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.42 |
0.42 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.74 |
1.94 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.38 |
1.41 |
1.64 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00 |
|
|
|
|
Market Value |
INR 53.50 |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
54.536 |
54.536 |
54.536 |
|
Reserves & Surplus |
76.064 |
97.057 |
110.890 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
130.600 |
151.593 |
165.426 |
|
|
|
|
|
|
long-term borrowings |
0.962 |
6.009 |
3.150 |
|
Short term borrowings |
37.637 |
96.265 |
85.342 |
|
Current Maturities of Long
term debt |
0.991 |
3.663 |
6.654 |
|
Total
borrowings |
39.590 |
105.937 |
95.146 |
|
Debt/Equity
ratio |
0.303 |
0.699 |
0.575 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
326.783 |
506.307 |
566.844 |
|
|
|
54.937 |
11.957 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
326.783 |
506.307 |
566.844 |
|
Profit/ (Loss) |
5.186 |
20.813 |
13.960 |
|
|
1.59% |
4.11% |
2.46% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G41816778 |
10134910 |
AXIS BANK LIMITED |
28/11/2008 |
27/03/2017 |
- |
137000000.0 |
B-2 & B-3, SECTOR-16NOIDAUP201301IN |
|
2 |
A55665129 |
10084239 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
14/01/2008 |
- |
22/01/2009 |
50000000.0 |
6TH FLOOR, AKRUTI CENTRE POINT, MIDC CENTRAL ROAD,NEXT TO MAROL TELEPHONE EXCHANGE, ANDHERI (EAST),MUMBAIMH400093IN |
|
3 |
A48062376 |
10043772 |
STATE BANK OF HYDERABAD |
12/03/2007 |
- |
21/10/2008 |
35000000.0 |
SCOPE COMPLEXLODHI ROAD,NEW DELHIDL110003IN |
|
4 |
A48059315 |
90042885 |
STATE BANK OF HYDERABAD |
20/09/2000 |
- |
21/10/2008 |
40000000.0 |
SCOPE COMPLEX; CORE 6 GROUND FLOOR7 INSTITUTIONAL AREA LODHI ROADNEW DELHIDL110003IN |
|
5 |
A48061550 |
90043136 |
STATE BANK OF HYDERABAD |
09/07/2001 |
- |
21/10/2008 |
40000000.0 |
SCOPE COMPLEX; CORE 6 GROUND FLOOR7 INSTITUTIONAL AREA LODHI ROADNEW DELHIDL110003IN |
|
6 |
A48655179 |
90040905 |
STATE BANK OF HYDERABAD |
14/02/1992 |
28/05/1996 |
21/10/2008 |
8750000.0 |
SCOPE COMPLEX BRANCHNEW DELHIDLIN |
CORPORATE
INFORMATION:
Subject, a public limited company incorporated under the Indian Companies Act, 1956, is listed on the Bombay Stock Exchange (Code: 53118). The company was incorporated as Catvision Products Limited on 28th June 1985. The name of the company was changed to Catvision Limited after obtaining a fresh certificate of incorporation.
FINANCIAL RESULTS:
The gross turnover of the company increased to INR 568.555 Million from INR 507.596 Million in the previous year, registered a growth of 12.01% over the previous year. Profit after tax stood to INR 13.960 Million as compared to INR 20.813 Million in the previous year. Demonetization caused Challenges and uncertainty in the industry particularly with channel partners. However, the company supported these channel partners by extending credit limit to help them tide over this difficult period.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT:
COMPANY OVERVIEW:
Subject is a public limited company incorporated under the Indian Companies Act, 1956, is listed on the Bombay Stock Exchange (Code: 53118). The company was incorporated as Catvision Products Limited on 28th June 1985. The name of the company was changed to Catvision Limited after obtaining a fresh certificate of incorporation from Ministry of Corporate Affairs, Government of India..
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30.09.2017
(INR IN MILLION)
|
Particulars |
Quarter Ended 30.09.2017 |
Quarter Ended 30.06.2017 |
Half Year Ended 30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Income from operations |
|
|
|
|
Revenue from Operations |
168.660 |
266.366 |
435.026 |
|
Other Income |
0.468 |
0.458 |
0.926 |
|
Total Income from operations (Net) |
169.128 |
266.824 |
435.952 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Consumption of Materials and
Services Consumed |
76.821 |
147.538 |
224.359 |
|
Purchases of Stock-in-Trade |
46.209 |
36.014 |
82.223 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(2.734) |
19.977 |
17.243 |
|
Employee
benefits expense |
17.088 |
16.031 |
33.119 |
|
Excise Duty |
0.000 |
7.536 |
7.536 |
|
Finance
costs |
1.159 |
1.396 |
2.555 |
|
Depreciation
and amortisation expense |
1.480 |
1.297 |
2.777 |
|
Other
expenditure |
14.261 |
19.738 |
33.999 |
|
Total Expenses |
154.284 |
249.527 |
403.811 |
|
|
|
|
|
|
Profit before
exceptional and extraordinary items and tax |
14.844 |
17.297 |
32.141 |
|
Exceptional Items |
--- |
--- |
--- |
|
Profit before tax |
14.844 |
17.297 |
32.141 |
|
Tax
expense |
|
|
|
|
Current
tax |
4.587 |
5.189 |
9.776 |
|
Deferred
tax |
--- |
--- |
--- |
|
Profit for the period from continuing
operations |
10.257 |
12.108 |
22.365 |
|
Profit /(Loss) from
discontinuing operations |
--- |
--- |
--- |
|
Tax expense of discontinuing operations |
--- |
--- |
--- |
|
Profit /(Loss) from
discontinuing operations (after tax) |
--- |
--- |
--- |
|
Profit for the Period |
10.257 |
12.108 |
22.365 |
|
Other comprehensive income |
|
|
|
|
Items
that that will not be reclassified to profit or loss |
--- |
0.905 |
0.905 |
|
Income
tax relating to items that will not be reclassified to profit or loss |
--- |
--- |
--- |
|
Items
that that will not be reclassified to profit or loss |
--- |
--- |
--- |
|
Income
tax relating to items that will not be reclassified to profit or loss |
--- |
--- |
--- |
|
Total comprehensive income for the
Period |
10.257 |
13.013 |
23.270 |
|
Earnings Per Share (EPS) |
|
|
|
|
Basic |
1.88 |
2.39 |
4.27 |
|
diluted |
1.88 |
2.39 |
4.27 |
Note:
1. The above Unaudited Financial results have been reviewed by the Audit
Committee and approved by the Board of Directors in its meeting held on 14th
November 2017.
2. The above financial results have been prepared in accordance with Indian
Accounting Standards (Ind-AS) as prescribed under section 133 of the Companies
Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards)
Rules, 2015 and the Companies (Indian Accounting Standards) Rules, 2016.
3. The above results have been subjected to Limited Review carried out by the
Statutory Auditors of the Company.
4. The figures of the previous Quarter/ Year have been re-grouped/ re-arranged
wherever considered necessary.
5. Reconciliation of Statement of Profit and Loss as previously reported under
IGAAP to Ind-AS.
This reconciliation has been provided in accordance with circular CIR/CFD/FAC/62/2016 issued by SEBI dated July 05, 2016 on account of implementation of Ind-AS by listed companies
STANDALONE
UNAUDITED STATEMENT OF ASSETS AND LIABILITIES
|
PARTICULARS
|
|
|
30.09.2017 |
|
|
|
|
(Unaudited) |
|
ASSETS |
|
|
|
|
Non-Current Assets |
|
|
|
|
Property Plant and equipment |
|
|
39.316 |
|
Other Intangible assets |
|
|
0.463 |
|
Financial assets |
|
|
|
|
Investments |
|
|
45.105 |
|
Loans |
|
|
7.657 |
|
Other Non-Current Assets |
|
|
4.099 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
(a) Inventories |
|
|
128.034 |
|
(b) Financial assets |
|
|
|
|
Investments |
|
|
0.030 |
|
Trade receivables |
|
|
137.486 |
|
Cash and cash equivalents |
|
|
11.309 |
|
Other financial assets |
|
|
0.000 |
|
Other Current Assets |
|
|
33.463 |
|
|
|
|
|
|
Total Assets |
|
|
406.962 |
|
|
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
|
EQUITY |
|
|
|
|
(a) Equity Share Capital |
|
|
54.536 |
|
(b) Other Equity |
|
|
126.731 |
|
Total |
|
|
181.267 |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
Non-Current
Liabilities |
|
|
|
|
financial Liabilities |
|
|
|
|
Borrowings |
|
|
6.285 |
|
Provisions |
|
|
6.148 |
|
Deferred Tax Liabilities (Net) |
|
|
2.880 |
|
Other non current liabilities |
|
|
5.150 |
|
|
|
|
|
|
Current
Liabilities |
|
|
|
|
financial Liabilities |
|
|
|
|
Borrowings |
|
|
59.842 |
|
Trade payables |
|
|
88.233 |
|
Other current liabilities |
|
|
44.806 |
|
Provisions |
|
|
2.574 |
|
Current tax liabilities |
|
|
9.776 |
|
Total Current
Liabilities |
|
|
225.695 |
|
|
|
|
|
|
Total Equity and
liabilities |
|
|
406.962 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Unexpired Bank Guarantee |
3.617 |
5.585 |
|
Claim against the company not acknowledged as debits |
0.000 |
0.800 |
|
Income tax demand for A.Y. 2009-10 and A.Y. 2014-15* |
3.552 |
3.081 |
Note: *In respect of Income tax matters, the company’s appeals are pending before the CIT (Appeals).
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Electrical Fittings
· Office Equipments
· Furniture and Fixtures
· Computers
· Vehicles
· Cable TV Network
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.74 |
|
UK Pound |
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.