|
|
|
MIRA INFORM REPORT
|
Report No. : |
487653 |
|
Report Date : |
22.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SREE RAYALASEEMA HI-STRENGTH HYPO LIMITED |
|
|
|
|
Registered
Office : |
Gondiparla, District Kurnool – 518004, Andhra Pradesh |
|
Tel. No.: |
91-8518-280064/5/6/7 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
28.03.2005 |
|
|
|
|
Com. Reg. No.: |
01-045726 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 154.913 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110AP2005PLC045726 |
|
|
|
|
IEC No.: |
0991020723 |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS1605E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The company’s principal business is manufacturing and sale
of industrial chemicals and generation and distribution of power. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
440 (Approximately) |
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2005. The company is engaged in manufacturing and sale of industrial chemicals and also in generation and distribution of power.
|
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 borrowing = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
15.05.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short
Term borrowing = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
15.05.2017 |
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 22.01.2018.
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 CO-OPERATIVE (Tel No.91-9951864011/ 8518-280064)
LOCATIONS
|
Registered Office/ Factory : |
Gondiparla, District Kurnool – 518004, Andhra Pradesh, India |
|
Tel. No.: |
91-8518-280064/5/6/7 |
|
Mobile No.: |
91-9951864011 (Mr. Shaik Iftekhar Ahmad) |
|
Fax No.: |
91-8518-280090 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head/ Corporate Office : |
216, K.J.S. Complex, Bhagyangar, Behind Mourya INN Hotel, Kurnool -
518004, Andhra Pradesh, India |
|
Tel No.: |
91-8518-228750/220164/224028 |
|
Fax No.: |
91-8518-228750/226656/226460 |
|
|
|
|
Branch Office: |
#305, Block B, shivalaya Building, K Khetraj Salai, Egmore, Chennai –
600015, Tamilnadu, India |
|
|
|
|
Stable Bleaching
Powder Plant : |
Manjawadi, Laxmapuram, Dharmapuri District, Tamilnadu, India |
|
|
|
|
Wind Mill Power
Units : |
Located at: ·
Tamilnadu, India |
|
|
|
|
Branch Office : |
No. 6-2-1012, 2nd Floor, Tur Mansion, Above ICICI Bank,
Khairatabad, Hyderabad - 500029, Telangana, India |
|
Tel. No.: |
91-40-23313842/ 43 |
|
Fax No.: |
91-40-23313875 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Tumbalam Gooty Bharath |
|
Designation : |
Managing Director |
|
Address : |
H No. 43/262, New Sankalbagh, N R Peta, Kurnool - 518004,
Andhra Pradesh, India |
|
Date of Appointment : |
25.07.2011 |
|
DIN No.: |
00125087 |
|
|
|
|
Name : |
Agadi Kailashnath |
|
Designation : |
Director |
|
Address : |
418/A Vajramuni, 8Th Main, Jayanagar, Bangalore 560011, Karnataka,
India |
|
Date of Appointment : |
30.05.2016 |
|
DIN No.: |
03017003 |
|
|
|
|
Name : |
Chandraiah Krishna Moorthy Naik |
|
Designation : |
Director |
|
Address : |
45-24-F2 Narasimhareddy Nagar Kurnool - 518004, Andhra Pradesh, India |
|
Date of Birth: |
13.07.1934 |
|
Date of Appointment : |
14.08.2014 |
|
DIN No.: |
06948531 |
|
|
|
|
Name : |
Surakkagar Saileela Duggi |
|
Designation : |
Director |
|
Address : |
43/26, Near Peta Near Balaji Nursing Home Kurnool - 518001, Andhra
Pradesh, India |
|
Date of Appointment : |
14.08.2014 |
|
DIN No.: |
06948544 |
|
|
|
|
Name : |
Rama Chandra Gowd |
|
Designation : |
Director |
|
Address : |
H.No.2-19-4-2, Balaji Nagar, Stantan Puram Kurnool - 518006, Andhra
Pradesh, India |
|
Date of Appointment : |
30.09.2015 |
|
DIN No.: |
06948557 |
|
|
|
|
Name : |
Gurunatha Reddy Hiregoudara |
|
Designation : |
Director |
|
Address : |
36/76-97, TGV Plot No 9A Weaker Section Colony, Kallur, Kurnool -
518006, Andhra Pradesh, India |
|
Date of Appointment : |
15.06.2015 |
|
DIN No.: |
07211326 |
KEY EXECUTIVES
|
Name : |
Vobugari Surekha |
|
Designation : |
Company Secretary |
|
Address : |
6-2-695, Flat No.206, II Floor, Bhawish Enclave, Khairatabad,
Hyderabad 500004, Telangana, India |
|
Date of Appointment : |
11.08.2006 |
|
PAN No.: |
AEOPV8567R |
|
|
|
|
Name : |
Ifthekhar Ahmed Shaik |
|
Designation : |
Chief Finance Officer |
|
Address : |
78/138-B Krishna Nagar, Kurnool - 518002, Andhra Pradesh, India |
|
Date of Appointment : |
30.09.2015 |
|
PAN No.: |
BETPS7917G |
SHAREHOLDING PATTERN
AS ON December 2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR
1957)As a % |
|
|
(A) Promoter & Promoter Group |
8914095 |
57.54 |
|
|
(B) Public |
6577156 |
42.46 |
|
|
Grand Total |
15491251 |
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 % |
|
|
A1) Indian |
|
||
|
Individuals/Hindu
undivided Family |
1138692 |
7.35 |
|
|
T G Bharath |
315737 |
2.04 |
|
|
T G Shilpa Bharath |
399676 |
2.58 |
|
|
T G Rajyalakshmi |
415744 |
2.68 |
|
|
Boda Mourya |
488 |
0.00 |
|
|
Jyothsna S Mysore |
7047 |
0.05 |
|
|
Any Other (specify) |
7775403 |
50.19 |
|
|
T G V Securities Private
Limited |
623053 |
4.02 |
|
|
T G V Projects &
Investments Private Limited |
1657294 |
10.70 |
|
|
Sree Rayalaseema Dutch Kassenbouw
Private Limited |
499422 |
3.22 |
|
|
Gowri Gopal Hospitals
Private Limited |
2931854 |
18.93 |
|
|
Brilliant Industries
Private Limited |
305042 |
1.97 |
|
|
Sree Rayalaseema Galaxy
Projects Private Limited |
1513989 |
9.77 |
|
|
Sree Rayalaseema Alkalies
& Allied Chemicals Limited |
244749 |
1.58 |
|
|
Sub Total A1 |
8914095 |
57.54 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
8914095 |
57.54 |
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 % |
|
|
B1) Institutions |
|
||
|
Mutual Funds/ |
2250 |
0.01 |
|
|
Financial Institutions/ Banks |
4493 |
0.03 |
|
|
Sub Total B1 |
6743 |
0.04 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
4455818 |
28.76 |
|
|
Individual share capital in excess of
INR 0.200 Million |
768551 |
4.96 |
|
|
Bhavesh Dhireshbhai Shah |
330336 |
2.13 |
|
|
Any Other (specify) |
1346044 |
8.69 |
|
|
Bodies Corporate |
334130 |
2.16 |
|
|
NRI |
1011914 |
6.53 |
|
|
Sub Total B3 |
6570413 |
42.41 |
|
|
B=B1+B2+B3 |
6577156 |
42.46 |
BUSINESS DETAILS
|
Line of Business : |
The company’s principal business is manufacturing and sale
of industrial chemicals and generation and distribution of power. [Registered
Activity] |
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|
Products / Services
: |
|
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|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
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|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
|
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|
No. of Employees : |
440 (Approximately) |
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Bankers : |
|
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|
||||||||||||||||||||||||
|
Facilities : |
Additional
information on borrowings 1. Security (a) The terms loan from banks are secured by exclusive charge on specific fixed assets. (b) The loan repayable on demand from banks include cash credits, bills purchases, discountings, letter of credits limits and bank guarantees are secured by Hypothecation of Raw-material, Stock in process, Finished goods, consumable Spares, Book debts and receivables. (c) The working capital and Term loans from banks are also secured by first and second charge on some of the fixed assets of the company. (d) The working capital and Term loans are further secured by guarantee from Managing Director and associate person in respective individual capacities. 2. Defaults There are no defaults/continuing defaults as on 31st March, 2017 in payment of interest and repayment of loans. |
|
Auditors : |
|
|
Name : |
S.T. Mohite and Company Chartered Accountants |
|
Address : |
Hyderabad, Telangana, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises on which
key managerial person (or) his relatives have significant influence /
control: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49000000 |
Equity Shares |
INR 10/- each |
INR 490.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15491251 |
Equity Shares |
INR 10/- each |
INR 154.913 Million |
|
|
|
|
|
Reconciliation of
the number of shares
|
Equity Shares |
Number
of Shares |
|
At the beginning of the year |
14716689 |
|
Add: Issued during the year |
774562 |
|
Total |
15491251 |
Rights,
preferences and restrictions
The company has only one class of share capital being Equity Shares having a face value of INR 10/- per share.
Each shareholder is entitled to one vote per share. The company declares and pays dividend in Indian rupees. The dividend payable on equity shares is subjected to recommendations of Board of Directors and shareholders in Annual General Meeting, except in the case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company in proportionate to their share holdings
Details of equity shares held by shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Gowri Gopal Hospitals Private Limited |
2931854 |
18.93 |
|
Sree Rayalaseema Galaxy Projects Private Limited |
1513989 |
9.77 |
|
TGV Projects & Investments Private Limited |
1657294 |
10.70 |
|
Total |
6103137 |
39.40 |
The Company declare and pays dividend in Indian rupees. In the meeting held on 30th May 2017, the board had recommended a dividend of INR 1.50 (15%) per equity share for the year ended 31.03.2017. The proposed dividend as provided in the accounts is subject to approval of members at the ensuing Annual General Meeting
The Company has four wholly owned Subsidiaries which ceased to be subsidiaries from 29th August, 2016.
Of the above issued shares, 2486028 Equity shares of INR 10/- each fully paid were issued for consideration without payment received in cash as per terms of amalgamation 1.8 The Company had issued 2448132 convertible warrants of which 774562 warrants were converted in to equity shares on 31.03.2017, and 1673570 convertible warrants which are outstanding are convertible into equity shares in two tranches before September, 2018.
Utilisation of issue
proceeds:
The Company made allotment of convertible warrants and part
conversion of warrants in to shares on 31.03.2017 and the monies received to
the extent of INR 75.822 million are held unutilised in bank account as on
31.03.2017.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
154.913 |
147.167 |
147.167 |
|
(b) Reserves &
Surplus |
1954.439 |
1730.526 |
1569.937 |
|
(c) Money received
against share warrants |
41.082 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2150.434 |
1877.693 |
1717.104 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
214.962 |
269.323 |
392.416 |
|
(b) Deferred tax
liabilities (Net) |
156.303 |
195.444 |
182.824 |
|
(c) Other long term
liabilities |
9.519 |
10.119 |
9.519 |
|
(d) long-term provisions |
39.177 |
62.125 |
45.535 |
|
Total Non-current
Liabilities (3) |
419.961 |
537.011 |
630.294 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
294.408 |
461.188 |
283.597 |
|
(b) Trade payables |
319.995 |
236.134 |
464.305 |
|
(c) Other current
liabilities |
103.686 |
219.829 |
245.484 |
|
(d) Short-term provisions |
151.811 |
234.797 |
242.589 |
|
Total Current Liabilities
(4) |
869.900 |
1151.948 |
1235.975 |
|
|
|
|
|
|
TOTAL |
3440.295 |
3566.652 |
3583.373 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1820.784 |
1946.572 |
1943.618 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
84.787 |
18.545 |
50.725 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
235.560 |
233.485 |
233.085 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
141.975 |
144.895 |
218.370 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2283.106 |
2343.497 |
2445.798 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
287.875 |
221.582 |
247.967 |
|
(c) Trade receivables |
305.246 |
533.770 |
352.528 |
|
(d) Cash and cash
equivalents |
147.551 |
57.628 |
61.115 |
|
(e) Short-term loans and
advances |
312.164 |
286.960 |
310.536 |
|
(f) Other current assets |
104.353 |
123.215 |
165.429 |
|
Total Current Assets |
1157.189 |
1223.155 |
1137.575 |
|
|
|
|
|
|
TOTAL |
3440.295 |
3566.652 |
3583.373 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3664.839 |
3634.619 |
3923.727 |
|
|
Other Income |
14.233 |
35.266 |
20.061 |
|
|
TOTAL |
3679.072 |
3669.885 |
3943.788 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2053.035 |
2185.535 |
2135.491 |
|
|
Purchases of
Stock-in-Trade |
125.213 |
0.107 |
1.708 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3.214) |
25.485 |
15.365 |
|
|
Employees benefits
expense |
158.776 |
135.257 |
164.506 |
|
|
Other expenses |
38.387 |
864.495 |
1221.277 |
|
|
Exceptional Item |
852.692 |
13.251 |
(65.799) |
|
|
TOTAL |
3224.889 |
3224.130 |
3472.548 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
454.183 |
445.755 |
471.240 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
63.224 |
93.527 |
116.097 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
390.959 |
352.228 |
355.143 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
246.538 |
97.168 |
97.577 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
144.421 |
255.060 |
257.566 |
|
|
|
|
|
|
|
Less |
TAX |
(39.170) |
67.883 |
63.857 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
183.591 |
187.177 |
193.709 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1370.851 |
1219.621 |
1005.156 |
|
|
|
|
|
|
|
Add |
Reserve Deferred Tax liability of
prior |
(37.166) |
(35.947) |
56.930 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transferred
to General Reserve |
0.000 |
0.000 |
9.685 |
|
|
Rounding
off Dividend of last year |
0.000 |
0.000 |
0.000 |
|
|
Proposed
Dividend |
0.000 |
0.000 |
22.075 |
|
|
Dividend
distribution tax |
0.000 |
0.000 |
4.414 |
|
|
Balance Carried to the
B/S |
1517.276 |
1370.851 |
1219.621 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1539.140 |
1546.132 |
1775.744 |
|
|
TOTAL EARNINGS |
1539.140 |
1546.132 |
1775.744 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw
Materials |
183.369 |
185.601 |
185.050 |
|
|
Plant
and Machinery |
4.863 |
3.613 |
12.817 |
|
|
Packing
& Spares |
0.920 |
2.080 |
0.041 |
|
|
TOTAL IMPORTS |
189.152 |
191.294 |
197.908 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
11.85 |
12.71 |
13.16 |
|
|
Diluted |
11.85 |
12.71 |
13.16 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
52.557 |
119.756 |
198.173 |
|
Cash generated from operations |
493.170 |
303.732 |
479.338 |
|
Cash Flow From Operating Activities |
480.555 |
147.689 |
303.044 |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net sales |
|
1192.670 |
1258.050 |
|
Total Expenditure |
|
1091.130 |
1137.740 |
|
PBIDT (Excluding Other Income) |
|
101.540 |
120.310 |
|
Other income |
|
12.590 |
(1.700) |
|
Operating Profit |
|
114.140 |
118.610 |
|
Interest |
|
12.990 |
10.760 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
101.150 |
107.850 |
|
Depreciation |
|
43.320 |
43.520 |
|
Profit Before Tax |
|
57.830 |
64.330 |
|
Tax |
|
7.700 |
12.590 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit after tax |
|
50.130 |
51.740 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
50.130 |
51.740 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
30.40 |
53.60 |
32.79 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
12.01 |
6.81 |
11.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
53.62 |
39.43 |
79.30 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.58 |
2.01 |
1.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.24 |
0.23 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.33 |
0.43 |
0.51 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.26 |
0.45 |
0.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.40 |
0.61 |
0.72 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.89 |
1.05 |
1.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
7.18 |
4.77 |
4.06 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
5.01 |
5.15 |
4.94 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.34 |
5.25 |
5.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.54 |
9.97 |
11.28 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.33 |
1.06 |
0.92 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.00 |
0.87 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.63 |
0.53 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.63 |
5.78 |
5.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.33 |
1.06 |
0.92 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 209.10/- |
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 |
147.167 |
147.167 |
154.913 |
|
Reserves & Surplus |
1569.937 |
1730.526 |
1954.439 |
|
Money received against share
warrants |
0.000 |
0.000 |
41.082 |
|
Net
worth |
1717.104 |
1877.693 |
2150.434 |
|
|
|
|
|
|
Long-Term Borrowings |
392.416 |
269.323 |
214.962 |
|
Short Term Borrowings |
283.597 |
461.188 |
294.408 |
|
Current Maturities of Long term debt |
198.173 |
119.756 |
52.557 |
|
Total
borrowings |
874.186 |
850.267 |
561.927 |
|
Debt/Equity
ratio |
0.509 |
0.453 |
0.261 |
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 |
3923.727 |
3634.619 |
3664.839 |
|
|
|
(7.3680) |
0.831 |
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
|
3923.727 |
3634.619 |
3664.839 |
|
Profit |
193.709 |
187.177 |
183.591 |
|
|
4.94% |
5.15% |
5.01% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
147.167 |
147.167 |
|
(b) Reserves &
Surplus |
|
1817.862 |
1887.747 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1965.029 |
2034.914 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
274.307 |
269.323 |
|
(b) Deferred tax
liabilities (Net) |
|
179.422 |
195.444 |
|
(c) Other long term
liabilities |
|
9.519 |
10.119 |
|
(d) long-term provisions |
|
141.712 |
62.125 |
|
Total Non-current
Liabilities (3) |
|
604.960 |
537.011 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
465.211 |
461.188 |
|
(b) Trade payables |
|
39.793 |
236.134 |
|
(c) Other current
liabilities |
|
100.442 |
220.113 |
|
(d) Short-term provisions |
|
224.609 |
234.797 |
|
Total Current Liabilities
(4) |
|
830.055 |
1152.232 |
|
|
|
|
|
|
TOTAL |
|
3400.044 |
3724.157 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1874.719 |
1946.572 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
18.545 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
233.485 |
390.630 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
146.555 |
181.209 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
2254.759 |
2536.956 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
121.647 |
221.582 |
|
(c) Trade receivables |
|
525.168 |
533.770 |
|
(d) Cash and cash
equivalents |
|
75.904 |
57.988 |
|
(e) Short-term loans and
advances |
|
321.019 |
250.646 |
|
(f) Other current assets |
|
101.547 |
123.215 |
|
Total Current Assets |
|
1145.285 |
1187.201 |
|
|
|
|
|
|
TOTAL |
|
3400.044 |
3724.157 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
1642.877 |
3634.619 |
|
|
Other Income |
|
3.687 |
35.266 |
|
|
TOTAL |
|
1646.564 |
3669.885 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
871.399 |
2185.535 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
0.107 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
34.788 |
25.485 |
|
|
Employees benefits
expense |
|
47.444 |
123.256 |
|
|
Exceptional Item |
|
0.000 |
13.251 |
|
|
Other expenses |
|
478.055 |
876.819 |
|
|
TOTAL |
|
1431.686 |
3224.453 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
214.878 |
445.432 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
24.949 |
93.527 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
189.929 |
351.905 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
103.514 |
97.168 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
86.415 |
254.737 |
|
|
|
|
|
|
|
Less |
TAX |
|
(0.920) |
67.884 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
87.335 |
186.853 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
5.93 |
17.02 |
|
|
Diluted |
|
5.93 |
17.02 |
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 |
CORPORATE INFORMATION
Subject is a public company domiciled in India and is Incorporated under the provisions of the Companies Act, 1956. The company’s principal business is manufacturing and sale of industrial chemicals and generation and distribution of power. The company caters to both domestic and International markets. The Company’s registered office located in Kurnool, Andhra Pradesh, India and has four wholly owned subsidiaries companies
PERFORMANCE:
During the year the Company achieved turnover of INR 3909.986 million against previous year turnover of INR 3810.637 million. The profit before tax stood at INR 144.421 million as against INR 255.060 million for the previous year.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT:
A) INDUSTRY STRUCTURE
AND DEVELOPMENTS:
The Company products can be broadly classified under Inorganic chemicals. Another activity is generation of power through wind and thermal.
B) Opportunities and
Threats:
(1) There is growing demand for Calcium Hypochlorite in the international market
(2) Most of the raw materials are easily available locally thus savings in the transportation costs
(3) The raw material prices are uncertain in the market. Any steep upward price rise would affect the profitability of the unit.
(4) The import of lime for the manufacture of Hi-strength Hypochlorite and Sodium Metal for Sodium Hydride may affect the profitability of the Company due to exchange fluctuations.
(5) The generation of power through wind mainly depends on high wind velocity which is seasonal in nature and thermal energy mainly depends on availability of coal both indigenous and imported.
C) Segment-Wise Or
Product-Wise Performance:
The Company surpassed its previous year performance in case of Stable Bleaching Powder (SBP), Sulphuric Acid, Sodium Hydride, Chloro sulphuric acid, Power generation through wind and Hydrochloric acid (HCL) However, there was a slight decline in Power generation through thermal energy, Hydrogen gas, Oleum, Sodium methoxide, Monochloro Acetic Acid (MCA), Calcium Hypo Chloriote.
D) Outlook:
The Company is exploring possibilities of exporting more quantities of existing products Stable Bleaching Powder (SBP), Mono Chloro Acetic Acid (MCA), Hydro chloric acid (HCL) and Sulphuric Acid.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Security deposits from customers |
12.625 |
21.599 |
|
Total |
12.625 |
21.599 |
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER, 2017
(INR in Million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Half Year
Ended |
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
1258.053 |
1192.670 |
2450.722 |
|
Other Operating Income |
(1.703) |
12.592 |
10.890 |
|
Total
Income from Operations |
1256.350 |
1205.262 |
2461.612 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
686.560 |
670.641 |
1357.201 |
|
Purchase of Stock in Trade |
174.124 |
125.213 |
299.337 |
|
Changes in inventories of finished goods and
work-in-progress |
12.952 |
(3.214) |
9.738 |
|
Employee benefits expense |
42.328 |
37.189 |
79.517 |
|
Finance cost |
10.758 |
12.988 |
23.746 |
|
Depreciation and Amortization expenses |
43.522 |
43.318 |
86.840 |
|
Other Expenditure |
221.772 |
261.301 |
483.073 |
|
Total
Expenses |
1192.016 |
1147.436 |
2339.452 |
|
Profit
/ (Loss) from ordinary activities before Exceptional items |
64.334 |
57.826 |
122.160 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit
/ (Loss) before Tax |
64.334 |
57.826 |
122.160 |
|
Tax Expense |
12.594 |
7.695 |
20.289 |
|
Profit
/ (Loss) after Tax |
51.740 |
50.131 |
101.871 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
154.913 |
154.913 |
154.913 |
|
Reserves (excluding Revaluation Reserve) |
-- |
-- |
-- |
|
Earnings
per Share (EPS) - INR |
|
|
|
|
Basic
|
3.34 |
3.24 |
6.58 |
|
Diluted
|
3.01 |
2.92 |
5.93 |
SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES AND CAPITAL
EMPLOYED
(INR in Million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Half Year
Ended |
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
Segment revenue |
|
|
|
|
Chemicals |
1176.770 |
1115.271 |
2292.041 |
|
Power Generation |
181.358 |
172.817 |
354.174 |
|
Unallocated |
(1.702) |
12.592 |
10.890 |
|
Sales / Income from
Operations |
1356.426 |
1300.680 |
2657.105 |
|
Less: Revenue from Inter segment revue |
100.075 |
95.418 |
195.493 |
|
Total |
1256.350 |
1205.262 |
2461.612 |
|
|
|
|
|
|
Segment results
(Profit before tax and Finance Cost) |
|
|
|
|
Chemicals |
50.165 |
15.014 |
65.178 |
|
Power Generation |
26.629 |
43.208 |
69.837 |
|
Unallocated |
(1.702) |
12.592 |
10.890 |
|
Total |
75.092 |
70.814 |
145.905 |
|
|
|
|
|
|
Interest (Net) |
10.758 |
12.988 |
23.746 |
|
Other un-allocable
expenditure |
0.000 |
0.000 |
0.000 |
|
Total Profit before
Tax |
64.334 |
57.826 |
122.160 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
Chemicals |
3366.750 |
3012.405 |
3366.750 |
|
Power Generation |
885.938 |
912.365 |
885.938 |
|
Others |
0.000 |
0.000 |
0.000 |
|
Total |
4252.688 |
3924.770 |
4252.688 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
Chemicals |
1292.861 |
1146.280 |
1292.861 |
|
Power Generation |
278.809 |
367.870 |
278.809 |
|
Others |
0.000 |
0.000 |
0.000 |
|
Total |
1571.670 |
1514.150 |
1571.670 |
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES
INR In Million
|
SOURCES OF FUNDS |
|
|
30.09.2017 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
154.900 |
|
(b) Reserves & Surplus |
|
|
2526.100 |
|
(c) Pending Call Money |
|
|
0.000 |
|
Sub-total Shareholders’ |
|
|
2681.000 |
|
|
|
|
|
|
(2) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
259.400 |
|
(b) Deferred tax liabilities (Net) |
|
|
390.000 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
6.900 |
|
Sub-total of
Non-Current liabilities |
|
|
656.300 |
|
|
|
|
|
|
(3)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
429.500 |
|
(b) Trade
payables |
|
|
250.400 |
|
(c) Other current
liabilities |
|
|
231.200 |
|
(d) Short-term
provisions |
|
|
4.300 |
|
Sub-total of Current liabilities |
|
|
915.400 |
|
|
|
|
|
|
TOTAL |
|
|
4252.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
1749.600 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital work-in-progress |
|
|
96.500 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
926.600 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
23.400 |
|
(e) Other Non-current assets |
|
|
124.100 |
|
Total
Non-Current Assets |
|
|
2920.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
297.300 |
|
(c) Trade receivables |
|
|
551.100 |
|
(d) Cash and cash equivalents |
|
|
65.500 |
|
(e) Short-term loans and
advances |
|
|
60.300 |
|
(f) Other current assets |
|
|
358.300 |
|
Total
Current Assets |
|
|
1332.500 |
|
|
|
|
|
|
TOTAL |
|
|
4252.700 |
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G49548365 |
100113359 |
HDFC BANK LIMITED |
13/07/2017 |
- |
- |
3330000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
2 |
G53624284 |
100104923 |
HDFC BANK LIMITED |
24/05/2017 |
29/08/2017 |
- |
152500000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
3 |
C47831300 |
10557244 |
HDFC BANK LIMITED |
07/03/2015 |
- |
- |
21139000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
4 |
C35268887 |
10533711 |
HDFC BANK LIMITED |
06/11/2014 |
- |
- |
1951000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
5 |
C31161383 |
10527775 |
HDFC BANK LIMITED |
04/10/2014 |
- |
- |
3347000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
6 |
C25485855 |
10523681 |
HDFC BANK LIMITED |
22/09/2014 |
- |
- |
22928530.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
7 |
C55193940 |
10047498 |
STATE BANK OF HYDERABAD |
26/02/2007 |
14/05/2015 |
- |
1643600000.0 |
PARK ROADMAIN BRANCH, KURNOOL – 518004, ANDHRA PRADESH, INDIA |
|
8 |
B71221675 |
10200880 |
STATE BANK OF HYDERABAD |
21/12/2009 |
- |
06/03/2013 |
35600000.0 |
PARK ROAD, KURNOOL – 518004, ANDHRA PRADESH, INDIA |
|
9 |
B71219810 |
10137247 |
STATE BANK OF HYDERABAD |
11/12/2008 |
25/01/2011 |
06/03/2013 |
45000000.0 |
PARK ROAD, KURNOOL – 518004, ANDHRA PRADESH, INDIA |
|
10 |
B41802539 |
90124625 |
INDIA EQUIPMENT LEASING LIMITED |
13/02/1995 |
- |
15/06/2012 |
23277800.0 |
21; PATULLOS ROAD, MADRAS, TAMILNADU, INDIA |
FIXED ASSETS:
- Land
- Factory Buildings
- Plant and Machinery
- Plant and Machinery-WEG
- Furniture and Fixtures
- Office Equipment
- Other 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,
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 63.72 |
|
|
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
GEET |
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.