|
|
|
MIRA INFORM REPORT
|
Report No. : |
488100 |
|
Report Date : |
25.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
LAHOTI OVERSEAS LIMITED (w.e.f 26.05.1995) |
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|
|
|
Formally Known
as : |
LAHOTI OVERSEAS PRIVATE LIMITED |
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|
|
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Registered
Office : |
307, Arun Chambers, Tardeo Road, Mumbai – 400034, Maharashtra |
|
Tel. No.: |
91-22-40500100 |
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|
Country : |
India |
|
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|
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Financials (as
on) : |
31.03.2017 |
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|
|
Date of
Incorporation : |
24.04.1995 |
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Com. Reg. No.: |
11-087643 |
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Capital
Investment / Paid-up Capital : |
INR 58.459 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74999MH1995PLC087643 |
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IEC No.: |
Not Available |
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GSTIN : |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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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
: |
The
company is engaged in the business of merchant exports of cotton textiles and
specializes in the export of quality cotton yarns and fabrics, which covers a
wide variety of Cotton Yarns including carded and combed ring spun yams of
coarse and fine counts, ply yarns, special yarns and grey knitted and woven
fabrics. The
company is also engaged in the business of setting up of Power projects and
to generate, supply, distribute, transmit and transform electric or other
sources of power. [Registered
Activity] |
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|
|
|
No. of Employees
: |
44 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 3168000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Lahoti Overseas Limited was incorporated in the year 1995. It is a trader of yarn. For the financial year 2017, the revenue of the company has increased by 22.88% along with profit margin of 1.93%. The sound financial profile of the company is marked by healthy networth base along with strong debt coverage indicators due to low debt balance sheet profile. The company has its share price trading at around INR.25.50 against the face value (FV) of INR 02 on BSE as on 23rd January, 2018. Rating derives strength from company’s established track record of business. However, rating strengths are partially offset by susceptibility of revenue to fluctuations in the price of cotton and cotton yarn and unfavorable gap between trade payables and trade receivables. 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 |
|
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 |
ICRA |
|
Rating |
Long Term Bank Facilities– BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
20.11.2017 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Bank Facilities – A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
20.11.2017 |
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 25.01.2018
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
LOCATIONS
|
Registered Office : |
307, Arun Chambers, Tardeo Road, Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-40500100 |
|
Fax No.: |
91-22-40500150 |
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E-Mail : |
|
|
Website : |
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|
Area : |
750 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Coimbatore Office: |
2nd Floor, Tirumalai Tower, 723 B, Avinashi Road, Coimbatore – 641018, Tamilnadu, India |
|
Tel. No.: |
91-422-2222282 / 223733 |
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Fax No.: |
91-422-2223116 |
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|
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Dhaka Office:: |
House: 540/6, Road: 12 (West), Baridhara D.O.H.S, Dhaka, Bangladesh |
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Tel. No: |
+88 01 711874258 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Umesh Rambilas Lahoti |
|
Designation : |
Managing Director |
|
Address : |
Era - IV, Maraton Nextgen, Flat No. 3401, G. K. Marg, Lower Parel, Mumbai -400013, Maharashtra, India |
|
Date of Appointment : |
24.04.1995 |
|
DIN No.: |
00361216 |
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|
|
|
Name : |
Mr. Aadhitiya Ujwal Lahoti |
|
Designation : |
Whole-time Director |
|
Address : |
2201, Dhaval Giri, A.K.Marg, Papanas Wadi, Nana Chowk. Mumbai – 400036, Maharashtra, India |
|
Date of Appointment : |
01.09.2007 |
|
DIN No.: |
01501504 |
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|
|
|
Name : |
Mr. Ujwal Rambilas Lahoti |
|
Designation : |
Whole-time Director |
|
Address : |
2201, Dhawalgiri Phapanaswadi, Nana Chowk, Grantroad,
Mumbai – 400036, Maharashtra, India |
|
Date of Appointment : |
01.03.2012 |
|
DIN No.: |
00360785 |
|
|
|
|
Name : |
Mr. Prem Sardarilal Malik |
|
Designation : |
Director |
|
Address : |
1201, Lok Nirman Apartment, A-2, Ambedkar Road, Khar
(West), Mumbai -400052, Maharashtra, India |
|
Date of Appointment : |
28.03.2012 |
|
DIN No.: |
00023051 |
|
|
|
|
Name : |
Mr. Vijay Dattatraya Ajgaonkar |
|
Designation : |
Director |
|
Address : |
A-10, Aparna, Veera Desai Road, Andheri Mumbai – 00058, Maharashtra, India |
|
Date of Appointment : |
11.05.2010 |
|
DIN No.: |
00065102 |
|
|
|
|
Name : |
Mr. Prakash Ramchandra Bang |
|
Designation : |
Director |
|
Address : |
459, Sindh Housing Society, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Appointment : |
12.07.2001 |
|
DIN No.: |
00088837 |
|
|
|
|
Name : |
Ms. Meghna Vijay Panchal |
|
Designation : |
Director |
|
Address : |
13/36, Navjivan Society, Lamington Road, Mumbai – 400008,
Maharashtra, India |
|
Date of Appointment : |
13.02.2015 |
|
DIN No.: |
07082835 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Ramniranjan Bachhuka |
|
Designation : |
Chief Executive Officer |
|
Address : |
F/703, Sonam Kaveri CHS Limited, Mira-Bhayandar Road, New
Golden Nest Phase-14, Thane, Bhayander East,Thane – 401105, Maharashtra,
India |
|
Date of Appointment : |
13.02.2015 |
|
PAN No.: |
AAIPB7507P |
|
|
|
|
Name : |
Ms. Avani Dipakkumar Lakhani |
|
Designation : |
Company Secretary |
|
Address : |
MA KLM Hostel, JVPD Scheme Opposite Joggers Park, Vile
Parle (West) Mumbai – 400056, Maharashtra, India |
|
Date of Appointment : |
13.02.2017 |
|
PAN No.: |
AIJPL7332H |
SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % |
|
|
Promoter and Promoter Group |
17446425 |
59.81 |
|
|
Public |
11725075 |
40.19 |
|
|
Grand Total |
29171500 |
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 |
15128925 |
51.86 |
|
|
Umesh R Lahoti |
4484000 |
15.37 |
|
|
Ujwal R Lahoti |
5345000 |
18.32 |
|
|
Jayashri U Lahoti |
2375500 |
8.14 |
|
|
Manjushri Umesh Lahoti |
1934500 |
6.63 |
|
|
Aadhitiya Ujwal Lahoti |
340500 |
1.17 |
|
|
Shashwat Umesh Lahoti |
208500 |
0.71 |
|
|
Ujwal R Lahoti HUF |
188500 |
0.65 |
|
|
Saurabh Umesh Lahoti |
140425 |
0.48 |
|
|
Amrita Ujwal Lahoti |
65000 |
0.22 |
|
|
R K Lahoti HUF |
47000 |
0.16 |
|
|
Any Other (specify) |
2317500 |
7.94 |
|
|
Kirti Stockbrokers LLP |
1610000 |
5.52 |
|
|
Hind Commerce Limited |
707500 |
2.43 |
|
|
Sub Total A1 |
17446425 |
59.81 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
17446425 |
59.81 |
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 |
0.00 |
||
|
B2) Central Government/ State
Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200
million |
4159844 |
14.26 |
|
|
Individual share capital in excess of INR 0.200
million |
625026 |
2.14 |
|
|
Any Other (specify) |
6940205 |
23.79 |
|
|
HUF |
170737 |
0.59 |
|
|
foreign Companies |
4240800 |
14.54 |
|
|
Billion Way Garment Limited |
4240800 |
14.54 |
|
|
NRI – Non- Repat |
19840 |
0.07 |
|
|
NRI – Repat |
704069 |
2.41 |
|
|
Anil Gurmukh Bhagwani |
592675 |
2.03 |
|
|
Clearing Members |
192014 |
0.66 |
|
|
Bodies Corporate |
1596133 |
5.47 |
|
|
Rashyap Impex Pvt. Ltd. |
1246244 |
4.27 |
|
|
Investor Education & Protection Fund |
16612 |
0.06 |
|
|
Sub Total B3 |
11725075 |
40.19 |
|
|
B=B1+B2+B3 |
11725075 |
40.19 |
BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in the business of merchant exports of cotton textiles and
specializes in the export of quality cotton yarns and fabrics, which covers a
wide variety of Cotton Yarns including carded and combed ring spun yams of
coarse and fine counts, ply yarns, special yarns and grey knitted and woven
fabrics. The
company is also engaged in the business of setting up of Power projects and
to generate, supply, distribute, transmit and transform electric or other
sources of power. [Registered
Activity] |
||||
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||||
|
Products / Services
: |
|
||||
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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 Available |
||||
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|
||||
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Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
No. of Employees : |
44 (Approximately) |
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Bankers : |
|
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
P. C. Ghadiali and Company LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Internal Auditors : |
|
|
Name : |
Lahoti Navneet and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Secretarial
Auditors : |
|
|
Name : |
Kothari H. and Associates Chartered Accountants |
|
Address : |
208, P.J. Towers, Dalal Street, Fort, Mumbai – 400001, Maharashtra,
India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary : |
|
|
|
|
|
The company has identied following parties for the purpose of Related Party Disclosure: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 2/- each |
INR 60.000 Million |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29382500 |
Equity Shares |
INR 2/- each |
INR 58.765 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29171500 |
Equity Shares |
INR 2/- each |
INR 58.343 Million |
|
211000 |
Add: Forfeited Shares |
|
INR 0.116
Million |
|
|
|
|
INR 58.459 Million |
Reconciliation of the number of
shares and amount outstanding at the beginning and at the end of the reporting
year
|
Name of shareholder |
As at 31.03.2017 |
|
|
Equity shares
with voting rights |
Number of shares |
INR in Million |
|
Opening Balance |
29171500 |
58.459 |
|
Less : Shares Forfeited |
-- |
-- |
|
Closing Balance |
29171500 |
58.459 |
Details
of shares held by each shareholder holding more than 5% shares:
|
Name of shareholder |
As at 31.03.2017 |
|
|
Equity shares
with voting rights |
Number of shares |
% holding |
|
Ujwal R Lahoti |
3823000 |
13.11 |
|
Umesh R Lahoti |
4484000 |
15.37 |
|
Jayashri U Lahoti |
2375500 |
8.14 |
|
Manjushri Umesh Lahoti |
1934500 |
6.63 |
|
Rukmini R Lahoti |
1522000 |
5.22 |
|
Kirti Stock Brokers Private Limited |
1610000 |
5.52 |
|
Billion Way Garment Limited |
4250000 |
14.57 |
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 |
58.459 |
58.459 |
58.459 |
|
(b) Reserves & Surplus |
1050.422 |
885.196 |
866.772 |
|
(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) |
1108.881 |
943.655 |
925.231 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
62.617 |
74.118 |
71.831 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
39.841 |
35.221 |
|
(c) Other long term
liabilities |
1.100 |
0.610 |
0.660 |
|
(d) long-term provisions |
3.339 |
2.895 |
2.383 |
|
Total
Non-current Liabilities (3) |
67.056 |
117.464 |
110.095 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
537.218 |
512.475 |
925.051 |
|
(b) Trade payables |
24.752 |
26.615 |
29.048 |
|
(c) Other current liabilities |
23.331 |
43.397 |
92.138 |
|
(d) Short-term provisions |
34.072 |
3.025 |
16.234 |
|
Total
Current Liabilities (4) |
619.372 |
585.512 |
1062.471 |
|
|
|
|
|
|
TOTAL |
1795.309 |
1646.631 |
2097.797 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
219.206 |
252.604 |
418.500 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
418.424 |
420.961 |
250.213 |
|
(c) Deferred tax assets (net) |
18.142 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
184.161 |
63.470 |
56.673 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
839.933 |
737.035 |
725.386 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
51.848 |
91.758 |
84.289 |
|
(c) Trade receivables |
736.217 |
634.977 |
996.640 |
|
(d) Cash and cash equivalents |
83.423 |
56.341 |
85.501 |
|
(e) Short-term loans and
advances |
57.017 |
73.020 |
76.057 |
|
(f) Other current assets |
26.871 |
53.500 |
129.924 |
|
Total
Current Assets |
955.376 |
909.596 |
1372.411 |
|
|
|
|
|
|
TOTAL |
1795.309 |
1646.631 |
2097.797 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5659.598 |
4605.666 |
5880.478 |
|
|
Other Income |
69.973 |
16.992 |
104.036 |
|
|
TOTAL
|
5729.571 |
4622.658 |
5984.514 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
5208.708 |
4232.713 |
5528.678 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
39.911 |
(7.470) |
(63.615) |
|
|
Employees benefits expense |
21.185 |
19.196 |
17.805 |
|
|
Other expenses |
221.154 |
219.139 |
281.706 |
|
|
TOTAL |
5490.958 |
4463.578 |
5764.574 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
238.613 |
159.080 |
219.940 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
67.848 |
80.530 |
89.488 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
170.765 |
78.550 |
130.452 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
30.366 |
35.631 |
26.551 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
140.399 |
42.919 |
103.901 |
|
|
|
|
|
|
|
Less |
TAX |
31.013 |
13.372 |
28.744 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
109.386 |
29.547 |
75.157 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
5288.471 |
4310.260 |
5539.912 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
3.75 |
1.01 |
2.58 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
22.057 |
20.209 |
|
Cash generated from operations |
24.645 |
486.103 |
335.252 |
|
Net cash flow from (used in) operations |
(6.570) |
(474.342 |
310.343 |
QUARTERLY
RESULTS
|
PARTICULARS |
|
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
|
Unaudited |
|
|
|
|
Net Sales |
|
1024.150 |
969.050 |
|
Total Expenditure |
|
999.760 |
945.140 |
|
PBIDT (Excl OI) |
|
24.390 |
23.910 |
|
Other Income |
|
12.550 |
5.890 |
|
Operating Profit |
|
36.940 |
29.800 |
|
Interest |
|
11.650 |
9.490 |
|
Exceptional Items |
|
NA |
0.000 |
|
PBDT |
|
25.280 |
20.310 |
|
Depreciation |
|
6.480 |
6.760 |
|
Profit Before Tax |
|
18.800 |
13.550 |
|
Tax |
|
5.980 |
5.130 |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
12.820 |
8.410 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
12.820 |
8.410 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
47.48 |
50.32 |
61.86 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.69 |
7.25 |
5.90 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
1.73 |
2.30 |
1.92 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
4.60 |
1.73 |
2.61 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.09 |
0.63 |
0.53 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.38 |
0.41 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.54 |
0.64 |
1.10 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.56 |
0.62 |
1.15 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.20 |
0.27 |
0.45 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.52 |
1.98 |
2.46 |
PROFITABILITY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
|
|
PAT to Sales [(PAT/Sales) *
100) |
% |
1.93 |
0.64 |
1.28 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT /
Total Assets) * 100] |
% |
6.09 |
1.79 |
3.58 |
|
|
|
|
|
|
|
Return on Investment (ROI)
[(PAT / NetWorth) * 100] |
% |
9.86 |
3.13 |
8.12 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.54 |
1.55 |
1.29 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.46 |
1.40 |
1.21 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.62 |
0.57 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
10.26 |
10.41 |
17.40 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.54 |
1.55 |
1.29 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2/- |
|
Market Value |
INR 25.50/- |
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 |
58.459 |
58.459 |
58.459 |
|
Reserves & Surplus |
866.772 |
885.196 |
1050.422 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
925.231 |
943.655 |
1108.881 |
|
|
|
|
|
|
Long Term borrowings |
71.831 |
74.118 |
62.617 |
|
Short Term borrowings |
925.051 |
512.475 |
537.218 |
|
Current Maturities of Long term debt |
20.209 |
22.057 |
0.000 |
|
Total
borrowings |
1017.091 |
608.650 |
599.835 |
|
Debt/Equity
ratio |
1.099 |
0.645 |
0.541 |
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
|
5880.478 |
4605.666 |
5659.598 |
|
|
|
(21.679) |
22.883 |
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
|
5880.478 |
4605.666 |
5659.598 |
|
Profit |
75.157 |
29.547 |
109.386 |
|
|
1.28% |
0.64% |
1.93% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
58.459 |
58.459 |
|
(b) Reserves & Surplus |
|
1052.504 |
886.147 |
|
(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) |
|
1110.963 |
944.606 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
62.245 |
73.746 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
39.841 |
|
(c) Other long term
liabilities |
|
1.100 |
0.610 |
|
(d) long-term provisions |
|
3.339 |
2.895 |
|
Total
Non-current Liabilities (3) |
|
66.684 |
117.092 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
537.218 |
512.475 |
|
(b) Trade payables |
|
24.763 |
26.628 |
|
(c) Other current liabilities |
|
23.343 |
43.403 |
|
(d) Short-term provisions |
|
34.255 |
3.130 |
|
Total
Current Liabilities (4) |
|
619.579 |
585.636 |
|
|
|
|
|
|
TOTAL |
|
1797.226 |
1647.334 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
219.206 |
252.605 |
|
(ii) Intangible Assets |
|
4.260 |
3.980 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
413.670 |
416.427 |
|
(c) Deferred tax assets (net) |
|
18.141 |
0.000 |
|
(d) Long-term Loan and Advances |
|
184.214 |
63.518 |
|
(e) Other Non-current assets |
|
0.097 |
0.089 |
|
Total
Non-Current Assets |
|
839.588 |
736.619 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
2.150 |
1.056 |
|
(b) Inventories |
|
51.848 |
91.759 |
|
(c) Trade receivables |
|
736.217 |
634.976 |
|
(d) Cash and cash equivalents |
|
83.503 |
56.402 |
|
(e) Short-term loans and
advances |
|
57.017 |
73.021 |
|
(f) Other current assets |
|
26.903 |
53.501 |
|
Total
Current Assets |
|
957.638 |
910.715 |
|
|
|
|
|
|
TOTAL |
|
1797.226 |
1647.334 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
5659.598 |
4605.666 |
|
|
Other Income |
|
71.015 |
17.495 |
|
|
TOTAL
|
|
5730.613 |
4623.161 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
0.000 |
0.000 |
|
|
Purchases of Stock-in-Trade |
|
5208.708 |
4232.713 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
39.911 |
(7.470) |
|
|
Employees benefits expense |
|
21.185 |
19.196 |
|
|
Other expenses |
|
221.182 |
219.155 |
|
|
TOTAL |
|
5490.986 |
4463.594 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
239.627 |
159.567 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
67.849 |
80.530 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
171.778 |
79.037 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
30.366 |
35.630 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
141.412 |
43.407 |
|
|
|
|
|
|
|
Less |
TAX |
|
31.196 |
13.477 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
110.216 |
29.930 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
3.78 |
1.03 |
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 |
Yes |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Nature of Business and Changes Therein:
The
Company is engaged in the business of Merchant Exports of Cotton textiles and
specializes in the export of quality Cotton Yarns and fabrics. Lahoti's range
today covers a wide variety of Cotton Yarns including carded and combed ring spun
yams of coarse and fine counts, ply yarns, special yarns and grey knitted and
woven fabrics.
The Company is also engaged in the business of
setting up of Power projects and to generate, supply, distribute, transmit and
transform electric or other sources of power.
During the year, there has been no change in the
nature of business of the Company.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENT
Textile division:
The Textile Industry in India is second largest employer
after agriculture providing jobs to the various class of peoples and is one of
the significant contributors to the Indian economy. During the year 2016-17,
the Cotton Textile Industry in India has experienced stressful situation due to
the changing market trends particularly from the major markets like China,
Europe etc. During the most of the part of the financial year the demand from
the world markets was sluggish due to recessionary trend prevailing in the
world markets, particularly in Europe and major Far East markets like China
etc.
Besides
the hike ups caused due to demonetization, implementation of GST the Indian
economy is paused for a steady and healthy growth. Textile sector being a
prominent employment generator, is likely to be a favorite of the Government
and is expected to receive a good support from the Government for its growth.
With
domestic and global economic conditions gradually improving along with the
focused efforts made by Ministry of Textiles, Indian textiles and garments sector
is set for growth, buoyed by revival in domestic consumption and export demand
The
company is mainly engaged in the export trading of cotton
yarn in all coarser and counts, grew cotton fabrics where the company has
strong presence and leadership. The company is mainly targeting the export of
cotton yarn and fabrics to Far East Asian countries like South Korea, china,
japan, Hong Kong, Malaysia, Vietnam and also cater to gulf, Mediterranean,
European, north and South American markets. The company enjoys the excellent relationship with its overseas
customers, which has been built over the years by strictly adhering to delivery
schedules maintaining consistent quality and providing prompt after sales
service.
Power Projects Division:
Government of India has taken several measures to
encourage Renewable Energy Sector in India. Many State Governments also have
come out with the Reverse Bidding System to full their obligations for
Renewable Energy and combined with this sector has become the most talked about
sector attracting huge investments and has the potential for huge growth in
future. The company Limited has ventured into the Renewable Energy Sector by installation
of Wind Power projects and Solar Power projects. The Company has growth plans
to invest further in this sector looking at the huge potential. However the
falling trend in the power purchase prices will affect adversely on the profit
margins and growth prospects.
Awards and
Recognitions
The
Company has won the Gold, Silver and Bronze trophies consistently since 1997
from TEXPROCIL (Cotton Textile Export Promotion Council) for excellence in
export of cotton yarn.
The Company has won the prestigious “Niryat Shree”
award from The Federation of Indian Export Organization (FIEO) for the year 2003-2004.
The company also won Silver plaque from Government of Maharashtra for the year
1995-96, 1996-97 and Gold Plaque for the year 2009-2010.
The
company has won the Business World International Business Award for Category – “Best
Export House” for excellent performance in exports in the year 2010-11.
The
company have received Second Award in Merchant Exporter Category and Third
Award in Trading House category from Government of Maharashtra for its export
performance in the year 2010-11.
Recently
the company have been awarded with Gold Plaque award for highest exports of
Cotton yarn (counts 51s and above) by Texprocil for the year 2015-16
These
awards recognised the efforts of the Company in the creation of path breaking
trends and excellent export performance in Cotton Textile Industry.
Opportunities and
Threats
Textile Division
The
future of Indian Cotton Textile Industry is highly depending on availability of
raw material at a competitive price. With the introduction of Hybrids and BT Cotton,
the cotton production in India is increasing every year. The government is
making efforts to supply proper quality seeds at a reasonable price to the
growers and it is expected that the supply of quality cotton will be
comfortable.
In the past, the Textile Industry did not develop
in an organized manner and the policy favored fragmentation resulting in
organized players suffering heavily because of the distorted fiscal structure.
Fortunately, in the last few years, the Government has now provided level
playing field to all the sectors of textile industry and therefore, large
investments are coming in the textile industry. Government had given good
incentives under Technology Upgradation Fund Scheme and also benefits to the
processing sector, which will give boost to the textile industry. Further upon
introduction of GST, will provide level playing field for all the segments of
the industry and will be a positive factor for the growth of the industry.
Power Projects
Division:
Power Projects specifically the Renewable Energy
projects are highly capital intensive. These projects are also dependent on
natural resources like wind, water, sunlight etc. The requirement of good
infrastructures such as connectivity of roads, viability of communication systems
play key roles in such projects. The low sale of REC (Renewable Energy
Certificate) has also affected the power projects set up under this mode as per
the scheme of Government of India. Being highly capital intensive, the cost of
production of energy is relatively higher in such projects. However the
incentives from Government of India and also due to the substantial reduction
in the capital cost in recent times, these projects are now becoming viable.
The floor price of REC have been revised downwards recently will help to
increase the sale of REC, however the matter of allowing the vintage multiplier
to the old investors in the sector is still to be resolved and the same is
subsidised.
SEGMENT WISE AND
PRODUCT WISE PERFORMANCE
Textile Division
Revenue in Textile Division has shown an increase
by INR 1021.973 million when compared to last year. The profits of the Company
shown increase of INR 42.829 million when compared to last year profits.
Power Projects Division:
Revenue from Power Division increased by INR 8.307
million when compared to last year. However the Profits of Power division has
shown an increase by INR 12.741 million.
FINANCIAL AND
OPERATIONAL PERFORMANCE
During the year the company has reported a total
income of INR 5729.571 million out of which the sale realization has increased
by 22.23% at INR 5366.191 million when compared to previous years proceeds of
INR 4390.322 million from the textile division and an increase of 22.88% at INR
62.565 million when compared to previous year proceeds of INR 50.916 million in
the Power division.
The market scenario of the Cotton textile Industry
has been such that the unit price of Cotton Yarns have been under pressure
which has shown a slight increase in price by 1.09% when compared to previous financial
year and the demand in kgs has reduced by 2.31%. This year exports of cotton
yarn from India to China has dropped by 22.69% in terms of quantity in kgs.
Further the non-operating income amounts to INR
16.992 million which has decreased by INR 87.044 million i.e by 67.33% as
compared to the previous year due to in previous year Gain From Sale of One
Wind Power Machine was for INR 27.387 million and gain from foreign exchange
Rs.697.49.
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loan and advances from related parties |
0.372 |
0.372 |
|
SHORT-TERM
BORROWINGS |
|
|
|
From Others |
116.263 |
62.809 |
|
Total |
116.635 |
63.181 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C80799695 |
10513506 |
HDFC Bank Limited |
10/06/2014 |
16/09/2015 |
- |
200000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
2 |
G02782480 |
10496816 |
RBL Bank Limited |
07/04/2014 |
16/12/2015 |
- |
140000000.0 |
Shahupuri, Kolhapur, Kolhapur – 416001, India |
|
3 |
G55041461 |
10425104 |
CITI Bank N.A. |
10/05/2013 |
22/02/2017 |
- |
200000000.0 |
First International Financial Centre, 9th Floor, Plot No. C-54 and 55, BKC, Bandra (Eest), Mumbai – 400051, India, India |
|
4 |
G23389364 |
80057514 |
State Bank of India SME Branch |
05/01/2006 |
27/09/2016 |
- |
168500000.0 |
Back bay Reclamation Branch, Mittal Court, B wing, Ground Floor , Nariman Point, Mumbai – 400001, Maharashtra, India |
|
5 |
B89653190 |
80057512 |
DBS Bank Limited |
29/11/2005 |
03/10/2013 |
- |
150000000.0 |
3rd Floor, Fort House Dr. D N Road, Fort, Mumbai – 400001, India |
|
6 |
G59203158 |
10613575 |
Kotak Mahindra Bank Limited |
08/01/2016 |
26/02/2016 |
05/10/2017 |
110000000.0 |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East),Mumbai – 400051, India |
|
7 |
G37079837 |
10337400 |
ICICI Bank Limited |
28/01/2012 |
08/02/2012 |
13/02/2017 |
70000000.0 |
Landmark, Race Cource Circle, alkapuri, Baroda – 390015, Gujarat, India |
|
8 |
G13331517 |
10408602 |
Central Bank of India |
18/01/2013 |
29/04/2015 |
29/09/2016 |
114800000.0 |
Corporate Finance Branch, Ist Floor, Mmo Bld, fort, Mumbai – 400023, Maharashtra, India |
|
9 |
B82477258 |
10410742 |
Central Bank of India |
18/01/2013 |
- |
20/08/2013 |
114800000.0 |
Corporate Finance Branch, Ist Floor, Mmo Bld, fort, Mumbai – 400023, Maharashtra, India |
|
10 |
B75781096 |
80057513 |
The Hongkong & Shanghai Banking Corporation Limited |
04/04/2005 |
- |
14/05/2013 |
30000000.0 |
52/60, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India |
CONTINGENT
LIABILITIES: (As on 31.03.2017)
i)
Contingent Liabilities not provided for in respect of Bills Discounted INR
292.974 million (Previous Year INR 350.789 million.
ii) Claims not acknowledged by the company relating to cases contested by the company:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Income
Tax Matter (Pending before Appellate Authorities in respect of which the
Company is in appeal) |
0.262 |
9.916 |
|
|
|
|
STANDALONE UNAUDITED FINANCIAL RESULTS FOR
THE QUARTER AND NINE MONTHS ENDED 30.09.2017
(INR In Million)
|
Particulars |
3 month ended |
Preceeding 3 months ended |
Year to date figures for the current
period |
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales / Income from Operations |
957.317 |
990.487 |
1947.804 |
|
Other Operating Income |
11.728 |
33.659 |
45.387 |
|
Total
Revenue from Operations |
969.045 |
1024.146 |
1993.191 |
|
|
|
|
|
|
Other
Income |
5.889 |
12.546 |
16.971 |
|
|
|
|
|
|
Total
Income |
974.933 |
1036.692 |
2010.162 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
0.000 |
0.000 |
0.000 |
|
Purchase of Stock in Trade |
820.049 |
1012.045 |
1832.095 |
|
Changes in inventories of finished goods and
work-in-progress |
74.805 |
(61.831) |
12.974 |
|
Employee benefits expense |
5.443 |
5.443 |
10.887 |
|
Selling expenses |
34.762 |
34.183 |
68.944 |
|
Finance costs – Bank Charges |
9.489 |
11.650 |
21.139 |
|
Depreciation and Amortization expenses |
6.761 |
6.482 |
13.244 |
|
Other Expenditure |
10.080 |
9.916 |
19.996 |
|
|
|
|
|
|
Total
Expenses |
961.390 |
1017.888 |
1979.278 |
|
Profit/(Loss)
before Exceptional items and tax |
13.543 |
18.804 |
30.884 |
|
Exceptional items Gain /(Loss) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Profit/(Loss)
before Tax |
13.543 |
18.804 |
30.884 |
|
|
|
|
|
|
Tax
expenses |
|
|
|
|
Current tax |
3.632 |
4.481 |
7.629 |
|
Deferred tax |
1.500 |
1.500 |
3.000 |
|
|
|
|
|
|
Net
Profit / (Loss) for the period/year |
8.412 |
12.823 |
20.256 |
|
|
|
|
|
|
Other
comprehensive income |
|
|
|
|
Items that will not reclassified to profit or loss |
(1.825) |
(1.463) |
(3.289) |
|
Income tax relating to items will not be reclassified |
0.603 |
0.484 |
1.087 |
|
Items that will reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
Income tax relating to items will be reclassified |
0.000 |
0.000 |
0.000 |
|
Total
Compressive income/(Loss) |
(1.222) |
(0.980) |
(2.201) |
|
|
|
|
|
|
Total
Compressive income |
7.190 |
11.844 |
18.054 |
|
|
|
|
|
|
Paid-up Equity Share Capital (Face value INR 2/- per
share) |
58.343 |
58.343 |
58.343 |
|
|
|
|
|
|
Other equity |
0.000 |
0.000 |
0.000 |
|
Earnings per Share (EPS) - INR |
|
|
|
|
Basic
|
0.29 |
0.44 |
0.69 |
|
Diluted |
0.29 |
0.44 |
0.69 |
SEGMENT-WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED ON 30.09.2017
(INR
in Million)
|
Particulars |
3 month ended |
Preceeding 3 months ended |
Year to date figures for the current
period |
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
1. Segment Revenue |
|
|
|
|
(a) Export Division |
948.287 |
1003.675 |
1951.962 |
|
(b) Power Division |
20.758 |
20.471 |
41.229 |
|
Net Sales/Income From Operation |
969.045 |
1024.146 |
1993.191 |
|
2. Segment Results |
|
|
|
|
Profit/(Loss) before Interest
and Tax |
|
|
|
|
(a) Export Division |
4.220 |
5.377 |
9.213 |
|
(b) Power Division |
12.924 |
12.531 |
25.839 |
|
Total |
17.144 |
17.908 |
35.052 |
|
Less |
|
|
|
|
(i) Finance Cost |
9.489 |
11.650 |
21.139 |
|
(ii) Other Un-allocable
Expenditure net of Un-allocable Income |
(5.889) |
(12.546) |
(16.971) |
|
|
3.600 |
(0.896) |
4.168 |
|
Total Profit Before Tax |
13.544 |
18.804 |
30.885 |
|
|
|
|
|
|
3. Segment Assets |
|
|
|
|
(a) Export Division |
1673.761 |
1833.493 |
1673.761 |
|
(b) Power Division |
333.298 |
328.963 |
333.298 |
|
Total Assets |
2007.059 |
2162.456 |
2007.059 |
|
|
|
|
|
|
4. Segment Liabilities |
|
|
|
|
(a) Export Division |
584.506 |
738.722 |
584.506 |
|
(b) Power Division |
307.459 |
316.047 |
307.459 |
|
|
891.965 |
1054.769 |
891.965 |
|
|
|
|
|
|
5. Capital Employed |
|
|
|
|
(Segment assets – Segment
Liabilities) |
|
|
|
|
(a) Export Division |
809.151 |
804.299 |
809.151 |
|
(b) Power Division |
305.942 |
303.362 |
305.942 |
|
Total |
1115.093 |
1107.661 |
1115.093 |
STANDALONE STATEMENT
OF ASSTES AND LIABILITIES AS ON 30.09.2016
(INR
in Million)
|
SOURCES OF FUNDS |
|
|
As at Half
year ended |
|
|
|
||
|
|
|
|
30.09.2017 (Unaudited) |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
58.459 |
|
(b) Reserves & Surplus |
|
|
1056.635 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
Sub-total Shareholders |
|
|
1115.094 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.209 |
|
(b) Deferred tax
liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
1.150 |
|
(d) long-term provisions |
|
|
3.299 |
|
Sub-total of Non-Current liabilities |
|
|
4.658 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
479.809 |
|
(b) Trade payables |
|
|
32.532 |
|
(c) Other current
liabilities |
|
|
12.494 |
|
(d) Short-term provisions |
|
|
56.529 |
|
Sub-total of Current liabilities |
|
|
581.364 |
|
|
|
|
|
|
TOTAL |
|
|
1701.116 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
209.448 |
|
(b) Non-current
Investments |
|
|
418.424 |
|
(c) Deferred tax assets
(net) |
|
|
15.142 |
|
(d) Long-term Loan and Advances |
|
|
99.531 |
|
(e) Other Non-current
assets |
|
|
0.000 |
|
Sub-total of Non-Current Assets |
|
|
742.545 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
38.873 |
|
(c) Trade receivables |
|
|
609.028 |
|
(d) Cash and cash
equivalents |
|
|
61.250 |
|
(e) Short-term loans and
advances |
|
|
232.979 |
|
(f) Other current assets |
|
|
16.441 |
|
Sub-total of Current Assets |
|
|
958.571 |
|
|
|
|
|
|
TOTAL |
|
|
1701.116 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
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 63.77 |
|
|
1 |
INR 89.20 |
|
Euro |
1 |
INR 78.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
SUPB |
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 |
YES |
|
--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.
·