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MIRA INFORM REPORT
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Report No. : |
485937 |
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Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
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Name : |
HIND ALUMINIUM
INDUSTRIES LIMITED (w.e.f. 07.09.2007) |
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Formerly Known
As : |
ASSOCIATED PROFILES AND ALUMINIUM LIMITED |
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Registered
Office : |
B-1, Tulsi Vihar, Dr. Annie Besant Road, Worli Naka, Mumbai – 400018,
Maharashtra |
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Tel. No.: |
91-22-24945178 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.05.1987 |
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Com. Reg. No.: |
11-043472 |
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Capital
Investment / Paid-up Capital : |
INR 63.002 Million |
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CIN No.: [Company Identification
No.] |
L28920MH1987PLC043472 |
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IEC No.: |
0388092629 |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Aaaca4671q |
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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
: |
Manufactures and sells Aluminium products. The company also mines for and sells bauxite, iron ore, and lime stone, and other minerals. In addition, it operates two wind turbine generators and four solar power plants with total power generation capacity of 4.18 megawatts. [Registered Activity] |
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No. of Employees
: |
85 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 2170000 |
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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 : |
Hind Aluminium Industries Limited was incorporated in the year 1987. For the financial year 2017, the company has reported decline in its
revenue as compared to previous year but has managed to maintain average
profit margin of 1.30%. The sound financial profile of the company is marked by adequate
networth base along with comfortable debt coverage indicators. The company has its share price trading at around INR 154.00 against
the face value (FV) of INR 10 on BSE as on 11th January, 2018. The rating takes into consideration the subject’s long track record of
business operations along with extensive experience of its promoters. However, rating strengths are partially offset by low profitability
margins due to competitive nature of industry with limited value addition,
exposure to volatility in commodity prices/foreign exchange rates, working
capital intensive nature of operations and the cyclical nature of the
industry. 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. |
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 |
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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
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Rating Agency Name |
CARE |
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Rating |
Long term bank facilities = A- |
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Rating Explanation |
Adequate degree of safety and low credit risk |
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Date |
13.11.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities = A2+ |
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Rating Explanation |
Strong degree of safety and low credit risk |
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Date |
13.11.2017 |
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 DENIED
Management Non-Cooperative (Tel. No.: 91-22-40457100)
LOCATIONS
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Registered Office / Corporate Office : |
B-1, Tulsi Vihar, Dr. Annie Besant Road, Worli Naka, Mumbai – 400018,
Maharashtra, India |
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Tel. No.: |
91-22-40457100 |
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Fax No.: |
91-22-24936888/ 40457150 |
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E-Mail : |
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Website : |
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Wind Turbine Generations 1 : |
Gut N0.59-1/A, Village; Akhtwade, District Nandurbar,
Maharashtra, India |
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Wind Turbine
Generations 2 : |
Location No. 275, Survey No.818 of Village
Narasewadi, Taluka Tasgaon, District Sangli, Maharashtra, India |
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Divisional Office
(Minerals Division) : |
C-302, Aishwarya Residency, G.E. Road, Telebandha, Raipur – 492001, Chhattisgarh, India |
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Factory 1 : |
Survey No.1/1/2, Village Khutali, Khanvel -
Doodhani Road, Near Khanvel, District Silvassa – 396230, Dadra and Nagar
Haveli (Union Territory) |
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Tel. No.: |
91-260-2677343/ 3252444/ 3203060/ 2677833 |
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Fax No.: |
91-260-2677361 |
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E-Mail : |
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Factory 2 : |
Solar Power Plants : SKF India Ltd. Plot No.2, Bommasandra Industrial Area, Hosur Road, Bangalore-560099, Karnataka, India |
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Factory 3 : |
Solar Power Plants : SKF India Limited, Chinchwad, Pune-411033, Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Lalit Kumar Daga |
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Designation : |
Chairman |
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Address : |
5-B, Purshottam Bhavan, Little Gibbs Road, Mumbai - 400006,
Maharashtra, India |
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Date of Birth/Age : |
10.10.1942 |
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Date of Appointment : |
12.05.1987 |
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Qualification : |
B Com |
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DIN No.: |
00089905 |
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Name : |
Mr. Shailesh Daga |
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Designation : |
Managing Director |
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Address : |
5-B, Purshottam Bhavan, Little Gibbs Road, Mumbai - 400006,
Maharashtra, India |
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Date of Birth/Age : |
19.03.1968 |
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Date of Appointment : |
12.05.1987 |
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Qualification : |
MBA |
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PAN No.: |
AFDPD9153P |
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DIN No.: |
00074225 |
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Name : |
Mr. Sudhir Goel |
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Designation : |
Whole Time Director |
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Address : |
301-B, Sanjeev Enclave, 7 Bunglow, Versova, Andheri (West), Mumbai - 400
026, Maharashtra, India |
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Date of Birth/Age : |
20.07.1949 |
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Date of Appointment : |
12.05.1987 |
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Qualification : |
FCA |
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DIN No.: |
00074455 |
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Name : |
Mr. Sundeep Mohta |
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Designation : |
Director |
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Address : |
23, Kali Krishna Tagore Street, Kolkata- 700007, West Bengal, India |
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Date of Birth/Age : |
03.03.1970 |
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Date of Appointment : |
10.06.2003 |
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DIN No.: |
00426001 |
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Name : |
Mrs. Renu Shekhar Somani |
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Designation : |
Director |
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Address : |
Kapur Mahal, 5th Floor, Marine Drive, Mumbai - 400020, Maharashtra, India |
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Date of Appointment : |
23.03.2015 |
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DIN No.: |
07132142 |
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Name : |
Mr. Navinchandra Himchand Shah |
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Designation : |
Director |
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Address : |
14, Gulistan, Carmichael Road, P.O. Cumbala Hills, Mumbai-400026, Maharashtra, India |
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Date of Appointment : |
04.06.2001 |
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DIN No.: |
01193927 |
KEY EXECUTIVES
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Name : |
Mr. Mahendra Kumar Jain |
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Designation : |
Chief Financial Officer |
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Address : |
301-A, Malica, 60 Feet Road, Bhayander (West), Thane-401101, Maharashtra, India |
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Date of Appointment : |
30.05.2014 |
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PAN No.: |
AAEPJ2647N |
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Name : |
Ms. Sakshi Sharma |
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Designation : |
Company Secretary |
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Address : |
Regency Estate, Lilly-02/1102, Kalyan Sheel Road, Dombivli, Thane – 421201, Maharashtra, India |
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Date of Appointment : |
21.12.2016 |
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PAN No.: |
FYRPS3375E |
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Name : |
Mr. Kailash Agarwal |
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Name : Designation : |
Unit Incharge –Wire Rod and Conductor Division |
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Name : |
Mr. G.L. Prasad |
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Designation : |
(President Operation) Wire Rod and Conductors |
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Name : |
Mr. Santosh L. Baghel |
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Designation : |
General Manager-Works; Wire Rod and Conductor Division |
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Name : |
Mr. Prem Sharma |
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Designation : |
General Manager, Marketing - Conductor Division |
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Name : |
Mr. Deepak Chaturvedi |
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Designation : |
General Manager-Corporate |
SHAREHOLDING PATTERN
AS ON DECEMBER 2017
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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) |
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|
(A) Promoter & Promoter Group |
3913952 |
62.12 |
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(B) Public |
2386248 |
37.88 |
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Grand Total |
6300200 |
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) |
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|
A1) Indian |
0.00 |
||
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Individuals/Hindu undivided Family |
1925360 |
30.56 |
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Lalit Kumar Daga |
595616 |
9.45 |
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Sheela Daga |
554636 |
8.80 |
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Raghav Daga |
251276 |
3.99 |
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Shailesh Daga |
250982 |
3.98 |
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Rashmi Daga |
55850 |
0.89 |
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L K Daga and Sons HUF |
110000 |
1.75 |
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Lalit Shailesh Daga HUF |
107000 |
1.70 |
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Any Other (specify) |
1988592 |
31.56 |
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Associated Aluminium Products Private Limited |
408244 |
6.48 |
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Associated Non-Ferrous Metals Private Limited |
336850 |
5.35 |
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Dynavent Airsystems Private Limited |
310000 |
4.92 |
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Shubhmangal Portfolio Private Limited |
299980 |
4.76 |
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Nirav Commercials Limited |
248518 |
3.94 |
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Daga Rubber Works Private Limited |
217500 |
3.45 |
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Daga Capital Management Private Limited |
167500 |
2.66 |
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Sub Total A1 |
3913952 |
62.12 |
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A2) Foreign |
0.00 |
||
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A=A1+A2 |
3913952 |
62.12 |
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) |
|
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B1) Institutions |
0.00 |
||
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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 |
1184945 |
18.81 |
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Individual share capital in excess of INR 0.200 Million |
676082 |
10.73 |
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Dipak Kanayalal Shah |
70000 |
1.11 |
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Gautam Rasiklal Ashra |
300000 |
4.76 |
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Any Other (specify) |
525221 |
8.34 |
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Bodies Corporate |
449631 |
7.14 |
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Anand Rathi Global Finance Limited |
230000 |
3.65 |
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Four Dimensions Securities(India) Limited |
170000 |
2.70 |
|
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Clearing Members |
37923 |
0.60 |
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NRI |
32985 |
0.52 |
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NRI – Repat |
3332 |
0.05 |
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NRI – Non- Repat |
1050 |
0.02 |
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Trusts |
300 |
0.00 |
|
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Sub Total B3 |
2386248 |
37.88 |
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B=B1+B2+B3 |
2386248 |
37.88 |
BUSINESS DETAILS
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Line of Business : |
Manufactures and sells Aluminium products. The company also mines for and sells bauxite, iron ore, and lime stone, and other minerals. In addition, it operates two wind turbine generators and four solar power plants with total power generation capacity of 4.18 megawatts. [Registered Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
85 (Approximately) |
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Bankers : |
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Facilities : |
Note: LONG TERM BORROWINGS A Securities for
Term Loans : Secured by hypothecation of land, Fixed Assets. Secured by hypothecation of Motor Car. First and exclusive charge by way of Hypothecation of Plant and Machinery of the company purchased and to be purchased from bank finance, situated at Village Khutali, Khanvel, Silvassa and Factory Land and Building situated at Kachigam Road, Daman. First and exclusive charge by way of Equitable mortgage of Factory Land and Building situated at Village khutali, Khanvel, Silvassa and Kachigam Road, Daman. Second charge by way of Equitable mortgage of Residential property situated at Lalit Vihar, Village Khanvel, Silvassa. First charge by way of Equitable mortgage over factory land and Hypothication of Plant and Machinary of the WTG located at 59/1, Village Akhatwade, Dist. Nandurbar. First and exclusive charge by way of Equitable mortgage of Residential property situated at Antony,Swagat, Rajanigandha Apartments Daman and Lalit Vihar Silvassa. Extension of charge over residual value for the WTG at village Narsewadi, Dist. Sangli and Plant and Machinery for the proposed expansion of conductor division financed by bank. Information regarding unhedged foreign currency exposure of the company is to be shared on a quarterly basis in a form and manner acceptable to the bank. First pari passu charge over the entire stocks and receivables of the company (both present and future). B Terms of
repayment : a In equal quarterly installments. b 20 equal quarterly installment starting after three months from the date of first disbursement. c Monthly EMI. C There are no defaults in repayment of loan and interest thereon as on March 31, 2016 for all the loans under this head. Term Loan from HDFC
Bank Limited, Mumbai A Securities for
Term Loans : Secured by Exclusive charge over solar plants of 522 KWP and 100 KWP located at SKF India Ltd. Bangaluru and SKF India Limited, Pune respectively having value of INR 45.000 million. Lien over shares total worth INR 5.000 lakhs of Idea Cellular Limited held by Director/Authorised signatory of the company. B Terms of
repayment : Repayable in quarterly installments without any moratorium from the date of 1st disbursement. Repayment would happen as: 20% in first year, 30% in second year and 50% in third year. SHORT-TERM
BORROWINGS A Securities for
Secured Loans : First charge by way of hypothecation of entire stock of Raw materials,Work in process,Finished stock and Bookdebts and second charge on Plant and Machinery, Factory and Residential Building, at Silvassa. Secured by way of Pari Passu Charge on all present and future current assets of the Company. Secured by Hypothication of all chargeable current assets of the company on Pari Passu basis with other working capital bankers. First charge by way of Equitable mortgage over factory land and Hypothecation of Plant & Machinary of the WTG located at No. 275, survey No. 818 of Village Narsewadi, Dist. Sangli. First charge by way of Hypothecation of Plant and Machinery of the company purchased and to be purchased out of bank’s finances at Village Khutali, Khanvel, Silvassa. There are no defaults in repayment of loan and interest thereon as on March 31, 2017 for all the loans under this head. Fixed Deposit of INR 500000 under lien in place of SCB’s mortgage on residential flats. First pari-passu charge on the entire current assets of the company. First pari-passu charge on the fixed assets excluding the assets which are charged exclusively to SBI, HDFC Bank and ICICI Bank. First pari-passu charge on all current assets of the company present and future. Charge on movable fixed assets of the company in the form of plant and machinery at Silvassa and Daman excluding assets financed specifically by term lenders. B Terms of
repayment of loans : Cash Credit Limit - Repayable on Demand. WCDL -Principal amount to be repaid as bullet payment on maturity date. Inland Bills Purchase / Discounting - Upto maximum of 180 days. EPC/PSCFC -Upto 180 days or expiry of contracts or export letters of credit for shipment whichever is earlier. |
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Auditors : |
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Name : |
Motilal and Associates Chartered Accountants |
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Address : |
304, Orchid Plaza, Behind Gokul Shopping Center, Next to Platform
No.8, Off S. V. Road, Borivali (West), Mumbai – 400092, Maharashtra, India |
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PAN No.: |
91-22-28642358 / 28658119 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates Companies : |
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Subsidiary
Companies : |
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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 |
|
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6300200 |
Equity Shares |
INR 10/- each |
INR 63.002 Million |
|
|
|
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|
A The equity share holders of the Company are entitled to receive final dividend as declared and approved by the Board of Directors and/ or the share holders of the Company. The dividend so declared will be in proportion to the number of equity shares held by the share holders.
B In the event of the liquidation of the Company, equity share holders will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the share holders.
C Details of Share Holders holding more than 5% of Equity Shares of the Company as at 31st March, 2017 are as under:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Lalit Kumar Daga |
595616 |
9.45 |
|
Sheela Daga |
554636 |
8.80 |
|
Associated Aluminium Products Private Limited |
408244 |
6.48 |
|
Associated Non-Ferrous Metals Private Limited |
336850 |
5.35 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
63.002 |
63.002 |
63.002 |
|
(b) Reserves &
Surplus |
698.012 |
647.610 |
569.656 |
|
(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) |
761.014 |
710.612 |
632.658 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
76.050 |
53.182 |
68.869 |
|
(b) Deferred tax
liabilities (Net) |
41.868 |
38.894 |
34.647 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
117.918 |
92.076 |
103.516 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
709.378 |
769.449 |
744.941 |
|
(b) Trade payables |
357.952 |
566.195 |
520.675 |
|
(c) Other current liabilities |
118.105 |
154.336 |
77.257 |
|
(d) Short-term provisions |
12.510 |
12.414 |
11.618 |
|
Total Current Liabilities
(4) |
1197.945 |
1502.394 |
1354.491 |
|
|
|
|
|
|
TOTAL |
2076.877 |
2305.082 |
2090.665 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
240.055 |
267.708 |
222.667 |
|
(ii) Intangible Assets |
0.537 |
0.570 |
0.313 |
|
(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 |
135.151 |
113.651 |
113.197 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
280.033 |
187.201 |
134.774 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
655.776 |
569.130 |
470.951 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
375.171 |
382.214 |
405.992 |
|
(c) Trade receivables |
911.160 |
1260.141 |
1011.151 |
|
(d) Cash and cash
equivalents |
85.893 |
75.130 |
78.463 |
|
(e) Short-term loans and
advances |
31.342 |
17.289 |
121.454 |
|
(f) Other current assets |
17.535 |
1.178 |
2.654 |
|
Total Current Assets |
1421.101 |
1735.952 |
1619.714 |
|
|
|
|
|
|
TOTAL |
2076.877 |
2305.082 |
2090.665 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4981.738 |
7208.234 |
4414.485 |
|
|
Other Income |
11.981 |
22.771 |
29.135 |
|
|
TOTAL |
4993.719 |
7231.005 |
4443.620 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4479.486 |
6517.749 |
4162.281 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.736) |
48.705 |
(178.958) |
|
|
Employees benefits
expense |
63.360 |
53.727 |
36.801 |
|
|
Other expenses |
266.340 |
338.148 |
237.408 |
|
|
TOTAL |
4801.450 |
6958.329 |
4257.532 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
192.269 |
272.676 |
186.088 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
76.528 |
104.592 |
54.387 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
115.741 |
168.084 |
131.701 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
30.115 |
32.966 |
31.541 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
85.626 |
135.118 |
100.160 |
|
|
|
|
|
|
|
Less |
TAX |
20.925 |
45.031 |
27.324 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
64.701 |
90.087 |
72.836 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
572.753 |
497.299 |
441.327 |
|
|
|
|
|
|
|
Add |
Adjustment relating to
Fixed Assets |
2.167 |
0.000 |
(2.990) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend |
10.080 |
10.080 |
9.450 |
|
|
Corporate Dividend Tax on
Proposed Dividend |
2.052 |
2.053 |
1.924 |
|
|
Transfer to General
Reserve |
2.500 |
2.500 |
2.500 |
|
|
Total |
14.632 |
14.633 |
13.874 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
624.989 |
572.753 |
497.299 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Steel Wire |
0.000 |
19.400 |
8.309 |
|
|
Aluminium Ingots |
45.800 |
0.000 |
0.000 |
|
|
Steel |
10.500 |
109.900 |
0.000 |
|
|
TOTAL IMPORTS |
56.300 |
129.300 |
8.309 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
10.27 |
14.30 |
11.56 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
250.626 |
233.258 |
(287.185) |
|
Net Cash from Operating Activities |
216.467 |
192.413 |
(300.013) |
QUARTERLY
RESULTS
|
PARTICULARS |
|
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
|
|
|
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Net Sales |
|
1415.500 |
1552.600 |
|
Total Expenditure |
|
1363.600 |
1468.400 |
|
PBIDT (Excluding Other Income) |
|
51.900 |
84.200 |
|
Other Income |
|
4.100 |
11.400 |
|
Operating Profit |
|
56.000 |
95.600 |
|
Interest |
|
23.300 |
40.500 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
32.700 |
55.100 |
|
Depreciation |
|
7.500 |
7.700 |
|
Profit Before Tax |
|
25.200 |
47.400 |
|
Tax |
|
NA |
18.700 |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
25.200 |
28.700 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
25.200 |
28.700 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
66.76 |
63.81 |
83.60 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
5.47 |
5.72 |
4.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
29.17 |
31.71 |
45.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.51 |
0.71 |
0.46 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.80 |
1.02 |
0.83 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.61 |
0.67 |
0.68 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.03 |
1.16 |
1.29 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.57 |
2.11 |
2.14 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.32 |
0.38 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.51 |
2.61 |
3.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
1.30 |
1.25 |
1.65 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.12 |
3.91 |
3.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.50 |
12.68 |
11.51 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.16 |
1.20 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.87 |
0.90 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.37 |
0.31 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
12.47 |
13.06 |
12.92 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.16 |
1.20 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 154.00/- |
FINANCIAL ANALYSIS
[all figures are
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 |
63.002 |
63.002 |
63.002 |
|
Reserves & Surplus |
569.656 |
647.610 |
698.012 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
632.658 |
710.612 |
761.014 |
|
|
|
|
|
|
long-term borrowings |
68.869 |
53.182 |
76.050 |
|
Short term borrowings |
744.941 |
769.449 |
709.378 |
|
Total borrowings |
813.810 |
822.631 |
785.428 |
|
Debt/Equity ratio |
1.286 |
1.158 |
1.032 |
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 |
4414.485 |
7208.234 |
4981.738 |
|
|
|
63.286 |
(30.888) |
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 |
4414.485 |
7208.234 |
4981.738 |
|
Profit |
72.836 |
90.087 |
64.701 |
|
|
1.65% |
1.25% |
1.30% |
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 |
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 |
COMPANY’S PERFORMANCE
During the year 2016-2017 total revenue of the Company is INR 4993.700 million as compared to INR 7231.000 million in the previous year. The profit after tax is INR 64.700 million as compared to INR 90.100 million in the previous year.
MANAGEMENTS’ DISCUSSION
AND ANALYSIS
OPPORTUNITIES
The Indian aluminium sector is waking up to a whole new world of opportunities. India plans to invest USD 1 trillion in the power sector by 2030 to achieve its goal of providing 24/7 electricity to all citizens. This will generate enormous demand for power conductors in India. Capacity creation in core sectors such as infrastructure, power, mining, oil and gas, refinery, steel, automotive and consumer durables are driving the demand for conductors in India. Expansion of nuclear capacity will generate additional business opportunities for conductors. India’s Power sector will require investment of INR 1.030 million crores during the period 2017-22, for generation capacity addition of 1,87,821 MW.
The Government of India has launched Deendayal Upadhyaya Gram Jyoti Yojna” (DDUGJY) for the purpose of (i) Separation of agriculture and non-agriculture feeders facilitating and (ii) Strengthening and augmentation of sub-transmission & distribution infrastructure in rural areas (iii) Rural Electrification for completion of the targets laid down under RGGVY for 12”’ and 13”’ Plans by carrying forward the approved outlay for RGGVY to DDUGJY. The components at (i) and (ii) of the above scheme have an estimated outlay of INR 430330.000 million including a budgetary support of INR 334530.000 million from Government of India during the entire implementation period. The scheme of RGGVY as approved by CCEA for continuation in 12’h and 13’h Plans has been subsumed in this scheme as a separate rural electrification component for which CCEA has already approved the scheme cost of ` 39,275 Crore including a budgetary support of INR 354470.000 million. This outlay will be carried forward to the new scheme of DDUGJY in addition to the outlay of INR 430330.000 million. REC is the nodal agency for the operationalization of DDUGJY in the country. This will mean good demand for distribution conductors.
More than 42% of Indian Conductors were exported to African countries. Kenya has consistently remained amongst the top 10 Indian conductor importers over the last 5 years. Total exports to Kenya were around INR 5800.000 million, amounting to about 12% of the total conductor exports by India during the last 5 years. To capatilise on this opportunities in the Kenya’ Power supply sector, the Company has set-up a subsidiary Company named “Hind Aluminium Industries (Kenya) Limited” at Kenya for manufacture & supply of Conductor there. The commercial production of this Company has yet to start.
Their analysis of proposed / ongoing infrastructure projects
indicates that the strong order inflow momentum would continue in this
sector.
SEGMENT-WISE
PERFORMANCE.
For Aluminium division of the Company, there has been some odd sluggishness in the transmission space despite very optimistic expectations. This has resulted in this division contributing total INR 4948.500 million in the revenue of Company as compared to INR 7183.500 million in the pervious year. While, March, 2016 ended well and there was expectation of the momentum continuing in 2017. However, from the end of March17 there was a sharp change in the sentiment, and ordering on the ground. They are still feeling these headwinds.
In the mineral sector the Company is trying to look for good sources of mineral and at present the Company has restricted its operation in this segment.
The Company has two Wind Turbine Generators (WTG) and four Solar Power Plants with total power generation capacity of 4.18 Mega Watts and all are working well and contributed INR 33.200 million in the total revenue of the Company as compared to INR 24.800 million in the previous year.
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Short-term
borrowings |
|
|
|
Aditya Birla Finance Limited |
78.916 |
146.060 |
|
Short Term Loan from HDFC Bank Limited, Mumbai |
150.000 |
150.000 |
|
Babul Fiscal Services Private Limited |
2.725 |
2.725 |
|
Nirav Commercials Limited |
4.453 |
7.466 |
|
Total |
236.094 |
306.251 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G35055755 |
100060963 |
Axis Bank Limited |
28/10/2016 |
17/01/2017 |
200000000.0 |
1st Floor, A Wing Mittal Tower, Nariman Point, Mumbai-400021, Maharashtra, India |
|
2 |
G35146018 |
100053794 |
IDFC BANK LIMITED |
04/10/2016 |
17/01/2017 |
300000000.0 |
KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai-600031, Tamilnadu, India |
|
3 |
G03158458 |
100025492 |
HDFC BANK LIMITED |
25/04/2016 |
- |
43000000.0 |
4th Floor, Tower B, Peninsula Business Park, Lower Parel, Mumbai-400013, Maharashtra, India |
|
4 |
G05163340 |
100031233 |
HDFC BANK LIMITED |
25/04/2016 |
- |
30000000.0 |
4th Floor, Tower B, Peninsula Business Park, Lower Parel, Mumbai-400013, Maharashtra, India |
|
5 |
G35218742 |
10580452 |
HDFC BANK LIMITED |
27/06/2015 |
17/01/2017 |
450000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
6 |
G35463140 |
10297615 |
ICICI BANK LIMITED |
14/06/2011 |
17/01/2017 |
980000000.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara-390007, Gujarat, India |
|
7 |
B97363212 |
10243944 |
ICICI BANK LIMITED |
01/10/2010 |
30/01/2014 |
380000000.0 |
Landmarkrace Cource Circle, Alkapuri, Vadodara-390015, Gujarat, India |
|
8 |
G35936806 |
10191960 |
Standard Chartered Bank |
14/12/2009 |
17/01/2017 |
350000000.0 |
Crescenzo, C-38/39, G-Block, Behind MCA Club, Bandra-Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
9 |
A74809450 |
10191964 |
3i Infotech Trusteeship Services Limited |
25/11/2009 |
- |
14400000.0 |
3rd to 6th Floor, International Infotech Park, 6th Floor, Akruti Centre Point, MIDC Central Road, Mumbai-400093, Maharashtra, India |
|
10 |
A54453626 |
10127293 |
3i Infotech Trusteeship Services Limited |
07/10/2008 |
05/01/2009 |
600000000.0 |
3rd to 6th Floor, International Infotech Park, 6th Floor, Akruti Centre Point, MIDC Central Road, Mumbai-400093, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Other money for
which the company is contingent liable: The Income Tax Assessments of the Company have been completed up to Assessment Year 2013-14. Based on the decisions of the Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the additional demand raised is likely to be either deleted or substantially reduced and accordingly no provision is considered necessary. |
18.100 |
11.400 |
|
Total |
18.100 |
11.400 |
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND HALF YEAR
ENENDE SEPTEMBER 30th, 2017
(INR In Million)
|
PARTICULARS |
|
||
|
Quarter ended |
Half year
ended |
||
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from
operations |
1552.600 |
1415.500 |
2968.100 |
|
Other Operating Income |
11.400 |
4.100 |
15.500 |
|
Total income from operations (net) |
1564.000 |
1419.600 |
2983.600 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
1459.500 |
1211.400 |
2670.900 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(78.400) |
64.800 |
(13.600) |
|
Employee benefits expense |
7.700 |
7.500 |
15.200 |
|
Depreciation and Amortization Expenses |
18.800 |
18.100 |
36.900 |
|
Finance costs |
40.500 |
23.300 |
63.800 |
|
Other Expenses |
68.500 |
69.300 |
137.800 |
|
Total expenses |
1516.600 |
1394.400 |
2911.000 |
|
Profit/ (Loss) from ordinary activities before tax |
47.400 |
25.200 |
72.600 |
|
Tax expenses |
18.700 |
0.000 |
18.700 |
|
Net Profit / (Loss) for the period |
28.700 |
25.200 |
53.900 |
|
Comprehensive Income |
-- |
-- |
-- |
|
Total comprehensive income for the period |
28.700 |
25.200 |
53.900 |
|
Earnings per share (before extraordinary items) of INR 10/-
each (not annualized): |
- |
- |
- |
|
(a)
Basic |
- |
- |
- |
|
(b)
Diluted |
- |
- |
- |
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND HALF YEAR ENDED 30TH
SEPTEMBER, 2017
|
Sr. No. |
Particular |
Quarter ended |
Half year
ended |
|
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
Aluminum Products (including conversion income) |
1541.400 |
1404.200 |
2945.600 |
|
|
Minerals |
-- |
-- |
-- |
|
|
Power |
11.200 |
11.300 |
22.500 |
|
|
Total |
1552.600 |
1415.500 |
2968.100 |
|
|
|
|
|
|
|
2. |
Segment Result |
|
|
|
|
|
Aluminum Products |
68.600 |
29.400 |
98.000 |
|
|
Minerals |
(0.300) |
(0.400) |
(0.700) |
|
|
Power |
7.600 |
8.600 |
16.200 |
|
|
Total |
75.900 |
37.600 |
113.500 |
|
|
Less : i.
Interest payment |
28.500 |
12.400 |
40.900 |
|
|
Total Profit/(Loss)
before tax |
47.400 |
25.200 |
72.600 |
|
|
|
|
|
|
|
3. |
Capital Employed |
|
|
|
|
|
(Segment
Assets-Segment Liabilities) |
|
|
|
|
|
Aluminum Products |
-- |
-- |
-- |
|
|
Minerals |
-- |
-- |
-- |
|
|
Power |
-- |
-- |
-- |
|
|
Aluminum Products |
-- |
-- |
-- |
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES AS ON 30.09.2017
INR In Million
|
SOURCES OF FUNDS |
|
|
30.09.2017 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
63.000 |
|
(b) Reserves & Surplus |
|
|
752.000 |
|
(c) Pending Call Money |
|
|
0.000 |
|
Sub-total Shareholders’ |
|
|
815.000 |
|
|
|
|
|
|
(2) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
66.600 |
|
(b) Deferred tax liabilities (Net) |
|
|
39.700 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Sub-total of
Non-Current liabilities |
|
|
106.300 |
|
|
|
|
|
|
(3)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
1148.500 |
|
(b) Trade
payables |
|
|
509.700 |
|
(c) Other
current liabilities |
|
|
88.400 |
|
(d) Short-term
provisions |
|
|
0.200 |
|
Sub-total of Current liabilities |
|
|
1746.800 |
|
|
|
|
|
|
TOTAL |
|
|
2668.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
226.500 |
|
(b)
Non-Current investments |
|
|
135.600 |
|
(c) Deferred
tax assets (net) |
|
|
0.000 |
|
(d) Long
term loans and advances |
|
|
203.400 |
|
(e) Other
non-current assets |
|
|
0.000 |
|
Sub-total of
Non-Current Assets |
|
|
565.500 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
352.500 |
|
(c) Trade
receivables |
|
|
1565.300 |
|
(d) Cash and
cash equivalents |
|
|
84.000 |
|
(e)
Short-term loans and advances |
|
|
98.200 |
|
(f) Other
current assets |
|
|
2.600 |
|
Sub-total of
Current Assets |
|
|
2102.600 |
|
|
|
|
|
|
TOTAL |
|
|
2668.100 |
NOTES:
1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their Meeting held on 14.12.2017.
2 The above financial result have been subjected to "Limited Review" by the statutory Auditor of the Company. The lnd AS compliant corresponding figure for the quarter and half ended 30th September 2016 have not been subjected to the Limited Review or audit.
3 The financial results of the Company have been prepared in accordance with Indian Accounting Standard ("I NO AS; as notified by Ministry of Corporate Affairs pursuant to section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules 2015, Companies (India Accounting Standard) Amendment Rules 2016 and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular dated 0 5 July2016.
4 Figures of previous periods have been regrouped wherever necessary.
5 The Company has three segment of activity namely "Manufacturing of Aluminium Products, Power and Minerals".
FIXED ASSETS:
Tangible Assets:
- Freehold Land
- Residential Flats
- Office Premises
- Plant and Machinery
- Wind Turbine Generator
- Solar Power Plant
- Electrical Installations
- Furniture and Fixture
- Office Equipments
- Vehicles
Intangible Asset:
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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 : |
GYT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
YES |
|
--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.