|
|
|
MIRA INFORM REPORT
|
Report No. : |
485908 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
KERALA ELECTRICALS AND ALLIED ENGINEERING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, KSHB Office Complex, Panampiily Nagar, Kochi, Ernakulam - 682036, Kerala |
|
Tel. No.: |
91-484-2310012 / 13 / 14 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
05.06.1964 |
|
|
|
|
Com. Reg. No.: |
09-002062 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 871.481 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200KL1964SGC002062 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN : |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK9971B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
· Manufacturing and Installation of Electrical Equipments · Manufacturer of power generators (Alternators) (Registered Activity) |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 1964. It is owned by Government of Kerala. The company manufactures and markets products like general purpose brushless alternators, brushless alternators for lighting and air-conditioning of rail coaches, medium power and distribution transformers as well as structural steel fabrications. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. For the financial year ended 2016, the company has achieved a fair growth of 11.9% in its revenue as compared to the previous year but has incurred losses. The company possesses weak financial profile marked by huge accumulated losses which have eroded the net worth base. However, the rating weakness is partially offset by the company’s established market position in the transformer segment in Kerala and continuous fund support from Government of Kerala for operational and financial requirements. Business is active. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with some caution. |
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 |
CRISIL |
|
Rating |
Long term loans : B |
|
Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk |
|
Date |
16.11.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term loans : A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
16.11.2017 |
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 BY
|
Name : |
Mr. Karan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-484-2310012 |
|
Date : |
11.01.2018 |
Tel No.:
91-484-2310013/ 91-471-4314287 Continuously Ringing
LOCATIONS
|
Registered Office / Corporate Office : |
7th Floor, KSHB Office Complex, Panampiily Nagar, Kochi, Ernakulam - 682036, Kerala, India |
|
Tel. No.: |
91-484-2310012 / 13 / 14 |
|
Fax No.: |
91-484-2310015 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Trivandrum Office : |
TC-11/568, MBC-36, Museum Bains Compound, Kowdiar P.O, Trivandrum – 695 003, Kerala, India |
|
Tel. No.: |
91-471 2314287/ 2310136 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Post Box No. 8, Kundara – 691501, Kerala, India |
|
Tel. No.: |
91-474 2522215 / 522216 |
|
Fax No.: |
91-474 2522514 |
|
E-Mail : |
|
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|
|
|
Factory 2 : |
Mamala P.O, Kochi – 682305, Kerala, India |
|
Tel. No.: |
91-484-2787705 / 2787707 |
|
Fax No.: |
91-484-787702 |
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E-Mail : |
|
|
|
|
|
Factory 3 : |
Olavakkod Industrial Estate, Olavakkod – 678731, Kerala, India |
|
Tel. No.: |
91-491-2555241 / 2555113 |
|
Fax No.: |
91-491-2554590 |
|
E-Mail : |
|
|
|
|
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Factory 3 : |
Puthuparambu P.O., Kottakkal Via, Edarikode – 676501, Kerala, India |
|
Tel. No.: |
91-483-2750421/2750422 |
|
E-Mail : |
|
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|
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Sales / Liaison
Offices : |
Located at : · Coimbatore |
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|
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Marketing Network : |
Located at : · New Delhi · Mumbai · Kolkata · Chennai · Bangalore |
DIRECTORS
As on 31.03.2017
|
Name : |
Shaji Varghese |
||||||||||||
|
Designation : |
Managing Director |
||||||||||||
|
Address : |
104/3, Roberts Line, Opposite SDD Thirumalagiri, Hyderabad-500015,
Telangana, India |
||||||||||||
|
Date of Appointment : |
12.01.2017 |
||||||||||||
|
DIN No.: |
07706723 |
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|
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|
Name : |
Paraman Kumaran |
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|
Designation : |
Nominee Director |
||||||||||||
|
Address : |
Parameswara Ayyamputhur, Muthukad, Chittur-678101, Kerala, India |
||||||||||||
|
Date of Appointment : |
14.07.2017 |
||||||||||||
|
DIN No.: |
03134779 |
||||||||||||
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Other
Directorship:
|
|||||||||||||
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|
||||||||||||
|
Name : |
Gopinathan Ajayakumar |
||||||||||||
|
Designation : |
Nominee Director |
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|
Address : |
Kunnuvila Veedu Vellamkudi, Kallara, P.O Thiruvananthapuram- 695608,
Kerala, India |
||||||||||||
|
Date of Appointment : |
13.03.2017 |
||||||||||||
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DIN No.: |
07823643 |
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Other
Directorship:
|
|||||||||||||
|
|
|
||||||||||||
|
Name : |
Ravikumar Bhanu |
||||||||||||
|
Designation : |
Nominee Director |
||||||||||||
|
Address : |
Saradam, Kurakkanni, Ayiroor, Varkala Po, Thiruvananthapuram- 695141,
Kerala, India |
||||||||||||
|
Date of Appointment : |
09.03.2017 |
||||||||||||
|
DIN No.: |
07969993 |
||||||||||||
|
|
|
||||||||||||
|
Name : |
Shaji Vakyaparambil Sukumaran |
||||||||||||
|
Designation : |
Nominee Director |
||||||||||||
|
Address : |
Vakyaparambil, Vellappara Post, Pramadom, Pathanamthitta- 689691,
Kerala, India |
||||||||||||
|
Date of Appointment : |
14.07.2017 |
||||||||||||
|
DIN No.: |
07970296 |
||||||||||||
|
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|
||||||||||||
|
Name : |
Sreeni Gopinathan Pillai |
||||||||||||
|
Designation : |
Nominee Director |
||||||||||||
|
Address : |
Sooryalekshmi Sreechithra Nagar, Thirumala PO, Pangode
Trivandrum-695006, Kerala, India |
||||||||||||
|
Date of Appointment : |
30.08.2017 |
||||||||||||
|
DIN No.: |
07985701 |
||||||||||||
|
Other
Directorship:
|
|||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Karan |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Governor of Kerala |
|
87148076 |
|
Parackal Chellakkutty Kas Sim |
|
1 |
|
Total |
|
87148077 |
Equity Share Break up (Percentage of Total Equity)
As on 19.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
0.00000115 |
|
Promoters (Government - State Government) |
99.99999885 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Manufacturing and Installation of Electrical Equipments · Manufacturer of power generators (Alternators) (Registered Activity) |
||||
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Products / Services
: |
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||||
|
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|
||||
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Brand Names : |
Not Available |
||||
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
||||
|
|
|
||||
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Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Elias George and Company Chartered Accountants |
|
Address : |
B1 6, HIG Avenue, Gandhi Nagar, Elamkulam-682020, Kerala, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFE5440J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 19.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000000 |
Equity Shares |
INR 10/- each |
INR 950.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87148077 |
Equity Shares |
INR 10/- each |
INR 871.481 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
871.481 |
871.481 |
871.481 |
|
(b) Reserves and Surplus |
(1472.642) |
(1300.060) |
(1133.418) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
239.791 |
239.791 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
(361.370) |
(188.788) |
(261.937) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
246.114 |
164.546 |
199.762 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term liabilities |
17.239 |
7.688 |
8.200 |
|
(d) long-term provisions |
143.465 |
124.498 |
118.060 |
|
Total Non-current
Liabilities (3) |
406.818 |
296.732 |
326.022 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
212.518 |
202.249 |
202.990 |
|
(b) Trade payables |
250.957 |
203.779 |
199.408 |
|
(c) Other current liabilities |
428.013 |
362.014 |
450.793 |
|
(d) Short-term provisions |
14.883 |
10.158 |
12.227 |
|
Total Current Liabilities
(4) |
906.371 |
778.200 |
865.418 |
|
|
|
|
|
|
TOTAL |
951.819 |
886.144 |
929.503 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
28.244 |
33.595 |
41.988 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets capital work-in-progress |
104.904 |
56.103 |
38.146 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.055 |
0.055 |
0.055 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term loans and advances |
28.825 |
28.882 |
31.580 |
|
(e) Other Non-current assets |
53.367 |
52.990 |
52.990 |
|
Total Non-Current
Assets |
215.395 |
171.625 |
164.759 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
156.735 |
136.487 |
158.138 |
|
(c) Trade receivables |
497.683 |
510.262 |
541.683 |
|
(d) Cash and bank balances |
53.457 |
15.421 |
19.620 |
|
(e) Short-term loans and advances |
27.875 |
48.960 |
37.707 |
|
(f) Other current assets |
0.674 |
3.389 |
7.596 |
|
Total
Current Assets |
736.424 |
714.519 |
764.744 |
|
|
|
|
|
|
TOTAL |
951.819 |
886.144 |
929.503 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1051.671 |
946.726 |
933.680 |
|
|
Other Income |
7.551 |
7.642 |
6.953 |
|
|
TOTAL |
1059.222 |
954.368 |
940.633 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
594.255 |
537.324 |
484.150 |
|
|
Purchases of
Stock-in-Trade |
26.886 |
19.219 |
26.482 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(18.041) |
13.269 |
34.430 |
|
|
Employee benefit expense |
283.258 |
256.912 |
226.522 |
|
|
Other expenses |
283.738 |
182.510 |
156.472 |
|
|
Prior period items |
5.015 |
18.969 |
7.556 |
|
|
Exceptional items |
0.000 |
35.067 |
(10.592) |
|
|
TOTAL |
1175.111 |
1063.270 |
925.020 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(115.889) |
(108.902) |
15.613 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
50.864 |
48.553 |
48.264 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(166.753) |
(157.455) |
(32.651) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.830 |
8.141 |
5.331 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(172.583) |
(165.596) |
(37.982) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(172.583) |
(165.596) |
(37.982) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.98) |
(1.90) |
(0.436) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
98.946 |
62.456 |
202.200 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
29.354 |
(70.761) |
26.346 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
172.73 |
196.73 |
211.76 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.11 |
1.86 |
1.72 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
147.47 |
133.65 |
142.54 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.74) |
(0.80) |
0.10 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.87) |
(1.21) |
0.19 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
1.31 |
1.13 |
1.15 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
(1.54) |
(2.27) |
(2.31) |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
(2.51) |
(4.12) |
(3.30) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
(0.37) |
(0.48) |
(0.31) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(2.28) |
(2.24) |
0.32 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(16.41) |
(17.49) |
(4.07) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(18.13) |
(18.69) |
(4.09) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
47.76 |
87.72 |
14.50 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.81 |
0.92 |
0.88 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.64 |
0.74 |
0.70 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
(0.38) |
(0.21) |
(0.28) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.64 |
0.49 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.81 |
0.92 |
0.88 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are in
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
871.481 |
871.481 |
871.481 |
|
Reserves & Surplus |
(1133.418) |
(1300.060) |
(1472.642) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
239.791 |
239.791 |
|
Net
worth |
(261.937) |
(188.788) |
(361.370) |
|
|
|
|
|
|
long-term borrowings |
199.762 |
164.546 |
246.114 |
|
Short term borrowings |
202.990 |
202.249 |
212.518 |
|
Current maturities of
long-term debts |
202.200 |
62.456 |
98.946 |
|
Total
borrowings |
604.952 |
429.251 |
557.578 |
|
Debt/Equity
ratio |
(2.310) |
(2.274) |
(1.543) |
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 |
933.680 |
946.726 |
1051.671 |
|
|
|
1.397 |
11.085 |
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 |
933.680 |
946.726 |
1051.671 |
|
Profit/ (Loss) |
(37.982) |
(165.596) |
(172.583) |
|
(4.07%) |
(17.49%) |
(16.41%) |
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 |
No |
|
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 |
No |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
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 |
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 |
FUTURE PROSPECTS (As on
31.03.2016)
The performance of the Company’s business is expected to be improved particularly with the commissioning of new projects under implementation, restructuring schemes, investment in Research and Development, quality improvement, timely delivery, after sales service and market expansion to other state such as Karnataka, Tamilnadu etc.
UNSECURED LOAN
|
PARTICULAR |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
246.114 |
164.546 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from others |
85.898 |
72.712 |
|
Total |
332.012 |
237.258 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
B12293841 |
10212450 |
THE KERALA STATE CO-OPERATIVE BANK LIMITED |
27/03/2010 |
05/05/2011 |
28500000.0 |
CO-OP BANK TOWER, PALAYAM THIRUVANANTHAPURAM KERALA 695033 IN |
|
2 |
Y10098976 |
90024216 |
KERALA INDUSTRIAL REVITALISATION FUND BOARD |
24/01/2005 |
- |
20000000.0 |
THIRUVANANTHAPURAM KERALA INDIA |
|
3 |
Y10098922 |
90024162 |
KERALA INDUSTRIAL REVITALISATION FUND BOARD |
19/01/2004 |
- |
112700000.0 |
THIRUVANANTHAPURAM KERALA INDIA |
|
4 |
Y10098868 |
90024108 |
KERALA INDUSTRIAL REVITALISATION FUND BOARD |
12/11/2002 |
- |
50000000.0 |
THIRUVANANTHAPURAM KERALA INDIA |
|
5 |
Y10098577 |
90023817 |
KERALA STATE CO-OPERATIVE BANK |
25/02/1994 |
07/06/2000 |
28500000.0 |
THIRUVANANTHAPURAM KERALA INDIA |
|
6 |
B12324893 |
90023797 |
STATE BANK OF MYSORE |
25/09/1993 |
06/05/2011 |
60700000.0 |
ERNAKULAM BRANCH, NARAKATHARA ROAD, OPP. SHENOY'S, M G ROAD COCHIN KL 682035 IN |
|
7 |
Y10098509 |
90023749 |
STATE BANK OF MYSORE |
22/02/1992 |
- |
27000000.0 |
M. G. ROAD ERNAKULAM KERALA INDIA |
|
8 |
B12308045 |
90023740 |
STATE BANK OF INDIA |
25/06/1991 |
03/05/2011 |
179000000.0 |
COMMERCIAL BRANCH, VENKARATH TOWERS, 1ST FLOOR BYE PASS ROAD, PADIVATTOM COCHIN KERALA 682024 INDIA |
|
9 |
Y10098498 |
90023738 |
STATE BANK OF TRAVANCORE |
11/05/1991 |
- |
16800000.0 |
M. G. ROAD ERNAKULAM KERALA INDIA |
|
10 |
Y10098481 |
90023721 |
STATE BANK OF TRAVANCORE |
08/12/1990 |
- |
11200000.0 |
M. G. ROAD ERNAKULAM KERALA INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Central Excise demands against the company not acknowledged as debt and not provided for in respect of which the company is in appeal. |
0.730 |
0.730 |
|
Demand on KVAT disputed by the Company |
3.657 |
4.416 |
|
Bank Guarantee and Letter of Credit outstanding as at year end |
153.809 |
105.764 |
|
Damages on late remittance of PF dues, disputed by the Company |
31.947 |
17.938 |
|
ESI Damages & Interest, disputed by the Company |
0.856 |
0.722 |
|
Total |
190.999 |
129.570 |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Equipment
- Vehicles
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 63.83 |
|
UK Pound |
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
NO |
|
--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.
·