|
|
|
MIRA INFORM REPORT
|
Report No. : |
488652 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
INDAG RUBBER LIMITED |
|
|
|
|
Registered
Office : |
Khemka House, 11, Community Centre, Saket, New Delhi – 110017 |
|
Tel. No.: |
91-11-26963172-73, 26961211/ 26863310/ 41664818/ 41664043 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.06.1978 |
|
|
|
|
Com. Reg. No.: |
55-009038 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 52.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1978PLC009038 |
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|
|
|
IEC No.: |
Not Divulged |
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|
|
|
GSTIN: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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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
: |
Subject is engaged in the Manufacturing and Selling of the Precured Tread Rubber, Bonding Repair, Extrusion Gum, Rubber Cement and Allied Products. (Registered Activity) |
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|
|
|
No. of Employees
: |
345 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1978 having fine track record. For the financial year 2017, the company has reported a dip in its revenue as compared to its previous year but has maintained fair profitability margin during the year. Rating takes into consideration, the healthy financial risk profile marked by strong net worth base and minimal dependence on external debt along with comfortable liquidity position. Rating continue to derive strength from its long and established track record of its business operation backed by its experienced promoters and professional management along with strong brand and pan-India network in terms of dealers and retailers. The company is listed on BSE at the price held at INR 181.65 against its face value of INR 10. Further, as per quarterly results till September 2017, the company has registered steady operating margins but has shown drop in its revenue base. However, these rating strengths gets partially offset by susceptibly of profit margins to volatility in raw material prices and its business exposed to competition from domestic organized and unorganized players in the market. Payments seems to be regular and as per commitment. In view of aforesaid, the company can be considered good 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 |
Fund Based Limits (A+) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
07.07.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund Based Limits (A+) |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
07.07.2017 |
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 30.01.2018
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. Ravi |
|
Designation : |
Account Department |
|
Contact No.: |
91-11-26963172 |
|
Date : |
29.01.2018 |
LOCATIONS
|
Registered Office : |
Khemka House, 11, Community Centre, Saket, New Delhi – 110017, India |
|
Tel. No.: |
91-11-26963172-73, 26961211/ 26863310/ 41664818/ 41664043 |
|
Fax No.: |
91-11-26856350 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Village Jhiriwala, Hadbast No.73, Tehsil Nalagarh, District Solan, Himachal Pradesh, India |
|
|
|
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Factory 2: |
Plot No. SP 86, Industrial Area, Tehsil Bhiwadi, District-Alwar – 301019, Rajasthan, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Nand Lal Khemka |
|
Designation : |
Managing Director |
|
Address : |
A-6, Kalindi Colony, New Delhi -110065, India |
|
Date of Appointment : |
02.06.1978 |
|
DIN No: |
00211084 |
|
|
|
|
Name : |
Mr. Prithvi Raj Khanna |
|
Designation : |
Director |
|
Address : |
House No. 70, Sunder Nagar, New Delhi -110003, India |
|
Date of Appointment : |
20.01.2000 |
|
DIN No: |
00048800 |
|
|
|
|
Name : |
Mr. Bindu Saxena |
|
Designation : |
Director |
|
Address : |
M-233, Ground Floor, Greater Kailash-II, New Delhi -110048, India |
|
Date of Appointment : |
08.10.2014 |
|
DIN No: |
00167802 |
|
|
|
|
Name : |
Mr. Uday Harsh Khemka |
|
Designation : |
Director |
|
Address : |
25, Eaton Square London SW1W9DF GB |
|
Date of Birth/Age : |
11.07.1965 |
|
Date of Appointment : |
08.10.2014 |
|
Qualification : |
Educated at Eton College, he received his undergraduate and Master’s degrees at Cambridge University and received an MBA with distinction from Harvard Business School (Baker Scholar) |
|
Experience |
Mr. Uday Khemka is Vice-Chairman of the SUN group of companies and has more than 24 years of investment, investment banking and entrepreneurial experience. He serves on the Board of various companies and has been elected a young global leader at the World Economic Forum in Davos. |
|
DIN No: |
00323609 |
|
|
|
|
Name : |
Mr. Kewal Krishan Kapur |
|
Designation : |
Wholetime Director |
|
Address : |
A - 12, Greater Kailash-II, New Delhi -110048, India |
|
Date of Appointment : |
09.04.2001 |
|
DIN No: |
00745117 |
|
|
|
|
Name : |
Mr. Shiv Vikram Khemka |
|
Designation : |
Director |
|
Address : |
Karintha Trade Ag Dorfstrasse 12 Sachseln 6072 Switzerland |
|
Date of Appointment : |
14.08.2015 |
|
DIN No: |
01214671 |
|
|
|
|
Name : |
Mrs. Ranjitha Parameswar |
|
Designation : |
Director |
|
Address : |
E-22, Greater Kailash-II, New Delhi -110048, India |
|
Date of Appointment : |
21.09.1996 |
|
DIN No: |
01879913 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Mrs. Manali Deepak Bijlani |
|
Designation : |
Company Secretary |
|
Address : |
C-37, Anand Vihar, New Delhi-110092, India |
|
Date of Appointment : |
21.05.2015 |
|
PAN No.: |
AFPPB2996C |
|
|
|
|
Name : |
Mr. Jainendar Kumar Jain |
|
Designation : |
Chief Finance Officer |
|
Address : |
C-018, Gail Employees Corporation Group Housing Society, Plot No. GH-9, Sector-56, Gurugram – 122003, Haryana, India |
|
Date of Appointment : |
01.07.2014 |
|
PAN No.: |
AAAPJ0648R |
MAJOR SHAREHOLDERS
As on 31.12.2017
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
19623438 |
74.76 |
|
|
(B) Public |
6626562 |
25.24 |
|
|
Grand Total |
26250000 |
100.00 |
Statement showing shareholding pattern
of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as a
% of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
11285010 |
42.99 |
|
|
JEET NABHA KHEMKA |
8765005 |
33.39 |
|
|
UDAY HARSH KHEMKA |
1250750 |
4.76 |
|
|
URVASHI RAJYA LAXMI RANA KHEMKA |
1250750 |
4.76 |
|
|
NAND LAL KHEMKA |
18505 |
0.07 |
|
|
Any Other (specify) |
7825428 |
29.81 |
|
|
KHEMKA AVIATION PVT LTD |
6272325 |
23.89 |
|
|
UNIPATCH RUBBER LIMITED |
1187415 |
4.52 |
|
|
PANKAJ DILIP PRIVATE LIMITED |
330500 |
1.26 |
|
|
KHEMKA & CO. AGENCIES PVT. LTD. |
27688 |
0.11 |
|
|
KHEMKA INSTRUMENTS PRIVATE LIMITED |
5000 |
0.02 |
|
|
KHEMKA TECHNICAL SERVICES PRIVATE LTD |
2500 |
0.01 |
|
|
Sub Total A1 |
19110438 |
72.80 |
|
|
A2) Foreign |
0.00 |
||
|
Any Other (specify) |
513000 |
1.95 |
|
|
SUN LONDON LIMITED |
376000 |
1.43 |
|
|
SUN SECURITIES LIMITED |
137000 |
0.52 |
|
|
Sub Total A2 |
513000 |
1.95 |
|
|
A=A1+A2 |
19623438 |
74.76 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957 As a
% of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Foreign Portfolio Investors |
102555 |
0.39 |
|
|
Sub Total B1 |
102555 |
0.39 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto INR 0.200 Million |
3268830 |
12.45 |
|
|
Individual share capital in excess of INR 0.200 Million |
1627899 |
6.20 |
|
|
SHIVANI TEJAS TRIVEDI |
673233 |
2.56 |
|
|
NBFCs registered with RBI |
320500 |
1.22 |
|
|
INFINA FINANCE PRIVATE LIMITED |
320000 |
1.22 |
|
|
Any Other (specify) |
1306778 |
4.98 |
|
|
Bodies Corporate |
640201 |
2.44 |
|
|
NRI |
236258 |
0.90 |
|
|
HUF |
208563 |
0.79 |
|
|
Clearing Members |
19566 |
0.07 |
|
|
INVESTOR EDUCATION AND PROTECTION FUND AUTHORITY MINISTRY OF CORPORATE
AFFAIRS |
202190 |
0.77 |
|
|
Sub Total B3 |
6524007 |
24.85 |
|
|
B=B1+B2+B3 |
6626562 |
25.24 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the Manufacturing and Selling of the Precured Tread Rubber, Bonding Repair, Extrusion Gum, Rubber Cement and Allied Products. (Registered Activity) |
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Products / Services
: |
|
||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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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 : |
345 (Approximately) |
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|
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Bankers : |
· Kotak Mahindra Bank, 27-BKC, C 27, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
Internal Auditors : |
|
|
Name : |
Khanna and Annadhanam Chartered Accountants |
|
Address : |
706, Akash Deep, 26-A, Barakhamba Road, New Delhi – 110001, India |
|
|
|
|
Statutory Auditors |
|
|
Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Office No. - 601, 6th Floor, World Mark 1, Aero City, New Delhi – 110037, India |
|
Tel. No: |
91-11-66718000 |
|
Fax. No: |
91-11-66719999 |
|
|
|
|
Cost Auditors |
Shome and Banerjee Cost Accountants |
|
Address : |
Pocket – C, Siddhartha Extension, New Delhi – 110014, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company |
Sun - Amp Solar India Private Limited (w.e.f. October 13, 2016) |
|
|
|
|
Step - down
Subsidiary Company |
Samyama Jyothi Solar Energy Private Limited (w.e.f. October 13, 2016) |
|
|
|
|
Enterprises owned or
significantly influenced by key management personnel or their relatives
(either individually or with others) |
· Unipatch Rubber Limited · Khemka Aviation Private Limited · Nand and Jeet Khemka Foundation · Khemka and Company Private Limited · Pankaj Dilip Private Limited · Sun Securities Limited · Sun London Limited · Khemka Technical Services Private Limited · Khemka Instruments Private Limited · Youth Reach · SRL 142 Holdings Limited · The Nabha Foundation |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
INR 2/- each |
INR 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26250000 |
Equity Shares |
INR 2/- each |
INR 52.500 Million |
|
|
|
|
|
a) Reconciliation of
the number of shares outstanding at the beginning and at the end of the
reporting year
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
At the beginning of the year |
26250000 |
52.500 |
|
Outstanding at the
end of the year |
26250000 |
52.500 |
b) Terms /
rights attached to equity shares
The Company has only one class of equity shares having par value of INR 2 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees.
During the year ended 31 March 2017, the amount of per share dividend recognized as distribution to equity shareholders was INR 2.40 (Previous year INR 0.90) The board of directors in its meeting held on May 05, 2017, has proposed final dividend @ 75% of paid up capital (i.e. INR 1.50 per equity share of INR 2 each)
In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distributions will be in proportion to the number of equity shares held by the shareholders.
c) Details of shareholders
holding more than 5% of the shares in the Company
|
Particulars |
31.03.2017 |
|
|
Number |
% of holding |
|
|
Equity shares of INR 2/- each |
|
|
|
Mrs. Jeet Khemka |
8765005 |
33.39 |
|
Khemka Aviation Private Limited |
6272325 |
23.89 |
As per of the Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
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 |
52.500 |
52.500 |
52.500 |
|
(b) Reserves & Surplus |
1663.363 |
1518.746 |
1227.579 |
|
(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) |
1715.863 |
1571.246 |
1280.079 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
32.983 |
26.197 |
2.839 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
1.126 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
32.983 |
26.197 |
3.965 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
127.148 |
108.509 |
188.272 |
|
(c) Other
current liabilities |
127.736 |
149.447 |
117.112 |
|
(d) Short-term
provisions |
14.907 |
11.615 |
60.719 |
|
Total Current
Liabilities (4) |
269.791 |
269.571 |
366.103 |
|
|
|
|
|
|
TOTAL |
2018.637 |
1867.014 |
1650.147 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
305.904 |
274.459 |
221.901 |
|
(ii)
Intangible Assets |
1.915 |
0.638 |
0.922 |
|
(iii) Capital
work-in-progress |
1.944 |
42.875 |
43.631 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
616.264 |
537.023 |
139.724 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.036 |
12.296 |
16.334 |
|
(e) Other
Non-current assets |
3.071 |
0.401 |
1.190 |
|
Total Non-Current
Assets |
938.134 |
867.692 |
423.702 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
256.991 |
296.940 |
495.024 |
|
(b)
Inventories |
414.248 |
293.506 |
304.050 |
|
(c) Trade
receivables |
290.016 |
301.170 |
338.038 |
|
(d) Cash
and cash equivalents |
50.480 |
43.127 |
42.410 |
|
(e)
Short-term loans and advances |
66.158 |
61.041 |
42.518 |
|
(f) Other
current assets |
2.610 |
3.538 |
4.405 |
|
Total
Current Assets |
1080.503 |
999.322 |
1226.445 |
|
|
|
|
|
|
TOTAL |
2018.637 |
1867.014 |
1650.147 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1839.025 |
2528.022 |
2418.854 |
|
|
Other Income |
60.830 |
50.759 |
33.859 |
|
|
TOTAL |
1899.855 |
2578.781 |
2452.713 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1149.941 |
1503.484 |
1559.647 |
|
|
Purchases of
Stock-in-Trade |
2.925 |
2.336 |
2.770 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(74.007) |
1.095 |
3.919 |
|
|
Employees benefits
expense |
193.487 |
210.166 |
174.418 |
|
|
Other expenses |
277.108 |
352.287 |
269.533 |
|
|
TOTAL |
1549.454 |
2069.368 |
2010.287 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
350.401 |
509.413 |
442.426 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3.075 |
2.942 |
2.302 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
347.326 |
506.471 |
440.124 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.630 |
27.587 |
19.629 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
317.696 |
478.884 |
420.495 |
|
|
|
|
|
|
|
Less |
TAX |
97.254 |
159.139 |
94.609 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
220.442 |
319.745 |
325.886 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1358.837 |
1067.670 |
818.186 |
|
|
|
|
|
|
|
Less |
Carrying value of fixed
assets having Nil useful life |
0.000 |
0.000 |
1.514 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed final dividend |
39.375 |
0.000 |
39.375 |
|
|
Interim dividend |
23.625 |
23.625 |
23.625 |
|
|
Tax on dividends |
12.825 |
4.953 |
11.888 |
|
|
Total (M) |
75.825 |
28.578 |
74.888 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1503.454 |
1358.837 |
1067.670 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
24.156 |
25.467 |
42.110 |
|
|
TOTAL EARNINGS |
24.156 |
25.467 |
42.110 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
16.837 |
0.000 |
4.411 |
|
|
Components and Stores
parts |
0.010 |
0.000 |
0.000 |
|
|
Capital Goods |
1.758 |
5.027 |
0.000 |
|
|
TOTAL IMPORTS |
18.605 |
5.027 |
4.411 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
8.40 |
12.18 |
12.41 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
178.596 |
433.281 |
395.606 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
89.083 |
298.460 |
307.773 |
QUARTERLY
RESULTS
|
Particulars |
|
30.06.2017 |
30.09.2017 |
|
Audited / Unaudited |
|
1St Quarter |
2nd Quarter |
|
Net Sales |
|
382.850 |
411.290 |
|
Total Expenditure |
|
376.570 |
360.320 |
|
PBIDT (Excl OI) |
|
6.280 |
50.970 |
|
Other Income |
|
23.970 |
12.280 |
|
Operating Profit |
|
30.250 |
63.250 |
|
Interest |
|
0.560 |
0.600 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
29.690 |
62.650 |
|
Depreciation |
|
6.960 |
8.080 |
|
Profit Before Tax |
|
22.730 |
54.570 |
|
Tax |
|
7.490 |
16.990 |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
15.230 |
37.590 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
15.230 |
37.590 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
57.56 |
43.48 |
51.01 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.34 |
8.39 |
7.16 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
40.26 |
0.00 |
43.98 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.85 |
1.74 |
1.46 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.13 |
1.60 |
1.66 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.13 |
0.14 |
0.22 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.16 |
0.17 |
0.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.18 |
0.20 |
0.21 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
113.95 |
173.15 |
192.19 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
11.99 |
12.65 |
13.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets)
* 100) |
% |
10.92 |
17.13 |
19.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.85 |
20.35 |
25.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
4.00 |
3.71 |
3.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.47 |
2.62 |
2.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.85 |
0.84 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
4.00 |
3.71 |
3.35 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 181.65/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
52.500 |
52.500 |
52.500 |
|
Reserves & Surplus |
1227.579 |
1518.746 |
1663.363 |
|
Net
worth |
1280.079 |
1571.246 |
1715.863 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
2418.854 |
2528.022 |
1839.025 |
|
|
|
4.513 |
(27.254) |
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 |
2418.854 |
2528.022 |
1839.025 |
|
Profit |
325.886 |
319.745 |
220.442 |
|
|
13.47% |
12.65% |
11.99% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
|
52.500 |
|
(b) Reserves &
Surplus |
|
1663.099 |
|
(c) Money received
against share warrants |
|
0.000 |
|
|
|
|
|
(d) Share Application
money pending allotment |
|
0.000 |
|
(2) Minority Interest |
|
18.705 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1734.304 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
|
122.010 |
|
(b) Deferred tax
liabilities (Net) |
|
32.983 |
|
(c) Other long term
liabilities |
|
0.000 |
|
(d) long-term provisions |
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
154.993 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
|
36.200 |
|
(b) Trade payables |
|
130.241 |
|
(c) Other current
liabilities |
|
139.555 |
|
(d) Short-term provisions |
|
15.354 |
|
Total Current Liabilities
(4) |
|
321.350 |
|
|
|
|
|
TOTAL |
|
2210.647 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
|
484.766 |
|
(ii) Intangible Assets |
|
1.915 |
|
(iii) Capital
work-in-progress |
|
1.944 |
|
(iv) Intangible assets
under development |
|
0.000 |
|
(v) Goodwill
Consolidation |
|
3.928 |
|
(b) Non-current
Investments |
|
586.728 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
|
(d) Long-term Loan and
Advances |
|
10.366 |
|
(e) Other Non-current
assets |
|
3.071 |
|
Total Non-Current Assets |
|
1092.718 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
|
256.991 |
|
(b) Inventories |
|
414.248 |
|
(c) Trade receivables |
|
294.230 |
|
(d) Cash and cash
equivalents |
|
67.960 |
|
(e) Short-term loans and
advances |
|
77.207 |
|
(f) Other current assets |
|
7.293 |
|
Total Current Assets |
|
1117.929 |
|
|
|
|
|
TOTAL |
|
2210.647 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
|
|
SALES |
|
|
|
|
Income |
|
1853.245 |
|
|
Other Income |
|
61.150 |
|
|
TOTAL |
|
1914.395 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
|
1149.941 |
|
|
Purchases of
Stock-in-Trade |
|
2.925 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(74.007) |
|
|
Employees benefits
expense |
|
193.487 |
|
|
Other expenses |
|
283.837 |
|
|
TOTAL |
|
1556.183 |
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
358.212 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
8.137 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
350.075 |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
31.695 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
318.380 |
|
|
|
|
|
|
Less |
TAX |
|
97.724 |
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS) FOR PERIOD FROM CONTINUING OPERATIONS |
|
220.656 |
|
|
|
|
|
|
|
PROFIT (LOSS) OF MINORITY
INTEREST |
|
(0.478) |
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS) FOR
PERIOD |
|
220.178 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
8.39 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
PERFORMANCE REVIEW
During the year the Company had net revenue of INR 1899.900 million as against INR 2578.800 million in the previous year. The Profit before finance cost and depreciation amounted to INR 350.400 million as against INR 509.400 million in the previous year.
Profit before tax during the year worked out to INR 317.700 million as compared to INR 478.900 million in the previous year.
CORPORATE INFORMATION
The Company is a public company domiciled in India. Its shares are listed on Bombay stock exchange. The Company is engaged in the manufacturing and selling of Precured Tread Rubber and allied products.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G28476612 |
100063943 |
KOTAK MAHINDRA BANK LIMITED |
10/11/2016 |
- |
- |
330000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G10402600 |
10334071 |
State Bank of Bikaner and Jaipur |
23/01/2012 |
19/08/2016 |
- |
220000000.0 |
M-2, Mandir MargSaketDelhiDL110017IN |
|
3 |
G30154744 |
10363699 |
HDFC BANK LIMITED |
19/06/2012 |
08/09/2015 |
14/12/2016 |
155000000.0 |
House Senapati Bapat MargLower Panel (West)MumbaiMH400013IN |
|
4 |
B71561401 |
10114308 |
GENERAL MANAGER |
04/07/2008 |
- |
15/03/2013 |
3000000.0 |
DISTRICT INDUSTRIES CENTREDPARTMENT OF INDUSTRIESSOLANHP173213IN |
|
5 |
B58211012 |
90054244 |
CORPORATION BANK |
18/06/2001 |
- |
20/09/2012 |
72200000.0 |
INDUSTRIAL FINANCE BRANCHHINDUSTAN TIMES HOUSE; K.G. MARGNEW DELHIDLIN |
|
6 |
B42009365 |
90055456 |
CORPORATION BANK & SBBJ |
27/09/2004 |
03/07/2006 |
28/05/2012 |
43000000.0 |
INDUSTRIAL FINANCE BRANCHH.T.HOUSE K.G.MARG,NEW DELHIDL110001IN |
|
7 |
B42008227 |
90051779 |
CORPORATION BANK & SBBJ |
02/08/2005 |
03/07/2006 |
28/05/2012 |
43000000.0 |
INDUSTRIAL FINANCE BRANCHH.T.HOUSE K.G.MARG,NEW DELHIDL110001IN |
|
8 |
B42001636 |
10016715 |
CORPORATION BANK & SBBJ |
08/08/2006 |
- |
28/05/2012 |
12000000.0 |
INDUSTRIAL FINANCE BRANCHHT HOUSE K G MARGNEW DELHIDL110001IN |
|
9 |
B37474624 |
90055309 |
State Bank of Bikaner & Jaipur |
27/05/2004 |
22/01/2007 |
20/04/2012 |
44000000.0 |
PVR Complex, Community Centre,SaketNew DelhiDL110017IN |
|
10 |
B37097003 |
10097327 |
CORPORATION BANK(LEAD BANK) |
24/03/2008 |
26/11/2011 |
02/04/2012 |
265000000.0 |
M-3&4,SHOPPING CENTREGREATER KAILASH-IINEW DELHIDL110048IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
The Company is under litigation with the revenue authorities regarding an expenditure claimed by the Company arising out of an arbitration award. As per the Company, the expenditure should be allowed to them in the year the arbitrator has passed the award. The department is of the view that the liability is not accrued till the award becomes a rule of court and has therefore disallowed the expenditure in the AY 1998-99 (the year in which the Company claimed the expenditure). During the financial year 2006-2007, the Company has received a demand notice from Income tax authorities pursuant to the order by Income Tax Appellate Tribunal, Delhi. The Company is presently in appeal before the Hon’ble High Court. The Company has deposited INR 2.000 million against the above demand which is included in the ‘Advance Tax’ under note no. 10. |
15.915 |
15.915 |
|
Pending labour cases (i) in case of one employee (ii) in case of others |
0.531 Liability not ascertainable |
0.531 Liability not ascertainable |
|
Demand raised by the Excise Authorities, being disputed the Company. |
0.690 |
0.690 |
|
Demand raised by the Sales Tax Authorities, being disputed by the Company. |
2.713 |
2.580 |
|
Entry tax demand being disputed by the Company (excluding the amount of interest and penalty, if any, which can’t be determined at this stage) # |
122.715 |
108.343 |
|
Differential amount of custom duty payable by the Company in case of non-fulfillment of export obligation excluding interest thereon against the import of capital goods made at concessional rate of duty. |
3.536 |
3.536 |
|
Demand raised by Income Tax Authorities, being disputed by the Company for A.Y 2013-14 |
0.893 |
0.893 |
|
Demand raised by Income Tax Authorities, being disputed by the Company for A.Y 2014-15 |
0.538 |
0.000 |
|
Bank Guarantee given on behalf of Samyama Jyothi Solar Energy Private) Limited |
25.800 |
0.000 |
|
Total |
173.331 |
132.488 |
|
# The Company had obtained a stay of the Himachal Pradesh Government order levying entry tax @ 2% on all goods entering the state with effect from 24th January, 2011. The same has been reduced to 1% w.e.f. July 13, 2011 and again increased to 2% w.e.f. March 01, 2014 and again reduced to 1% from 01 September, 2016. The Hon’ble High Court, Himachal Pradesh while staying the levy in an interim order, directed the Company to deposit 1/3rd of the assessed amount as ‘’deposit’’ with the state government and furnish a bank guarantee for the balance 2/3rd amount to them. Since the cash payment as per court order is in the nature of deposits, no amount has been expensed off in the financial statements as entry tax. However, the cash (w.e.f jan 16 the ratio of deposit & bank guarantee has been changed to 50:50) deposited so far is INR 43.746 million (previous year INR 34.384 million) and bank guarantee furnished is for an amount of INR 77.057 million (previous year INR 70.299 million). While Hon’ble Supreme Court has upheld the constitutional validity of Entry Tax in their judgment dated 11th November, 2016, the issue of discrimination under Article 304(a) and scope of local area is left to be determined by respective High Courts. The Company has filed a fresh writ before Hon’ble High Court, Shimla on 7th April,2017 and got a notice issued that the department will maintain status quo. * Based on the discussions with the solicitor/ expert opinions taken/status of the case, the management believes that the Company has strong chances of success in above mentioned cases and hence no provision there against is considered necessary at this point in time. ** Based on future sales plan, the management is quite
hopeful to meet the obligations by executing the required volume of sales in
future. |
||
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND SIX MONTHS
SEPTEMBER 30, 2017
(INR In Million)
|
PARTICULARS |
3 Months |
9 Months |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from
operations |
411.292 |
449.721 |
794.139 |
|
Other Operating Income |
12.283 |
18.788 |
36.234 |
|
Total income from operations (net) |
423.575 |
468.509 |
830.373 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
319.718 |
264.191 |
454.769 |
|
Purchases of stock-in trade |
0.318 |
0.641 |
0.430 |
|
Changes in inventories of finished goods. work-in-progress and stock
in trade |
(59.533) |
(32.397) |
61.345 |
|
Employee benefits expense |
38.280 |
49.678 |
76.762 |
|
Depreciation and Amortization Expenses |
8.080 |
7.212 |
15.040 |
|
Other Expenses |
61.540 |
64.512 |
104.873 |
|
Finance Costs |
0.599 |
0.630 |
1.161 |
|
Excise Duty |
0.000 |
45.190 |
38.693 |
|
Total expenses |
369.002 |
399.657 |
753.073 |
|
Profit/ (Loss) from ordinary activities after finance cost but before exceptional
items |
54.573 |
68.852 |
77.300 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit/ (Loss) from ordinary activities before tax |
54.573 |
68.852 |
77.300 |
|
Tax expenses |
16.986 |
21.342 |
24.480 |
|
Net Profit / (Loss) from ordinary activities after tax |
37.587 |
47.510 |
52.820 |
|
Extraordinary item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
Net Profit / (Loss) for the period |
37.587 |
47.510 |
52.820 |
|
Comprehensive Income |
0.514 |
21.875 |
3.920 |
|
Net Profit/ (Loss) after taxes, minority interest and share of
profit/(loss) of associates |
38.101 |
69.385 |
56.740 |
|
|
|
|
|
|
Paid up equity share capital (Face Value of INR 2/-each) |
52.500 |
52.500 |
52.500 |
|
Reserve excluding Revaluation Reserve as per Balance Sheet of previous
accounting year |
|
|
|
|
Earnings per share (before extraordinary items) of INR 2/- each (not
annualized): |
|
|
|
|
(a) Basic |
1.43 |
1.81 |
2.01 |
|
(b) Diluted |
1.43 |
1.81 |
2.01 |
UNAUDITED
STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2017
(INR In Million)
|
SOURCES OF
FUNDS |
|
30.09.2017 |
|
|
[Unaudited] |
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1) Shareholders' Funds |
|
|
|
(a) Share Capital |
|
52.500 |
|
(b) Reserves &
Surplus |
|
1720.206 |
|
(c) Money received
against share warrants |
|
0.000 |
|
|
|
|
|
(2) Share Application
Money Pending Allotment |
|
0.000 |
|
Total Shareholders’ Funds
|
|
1772.706 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
|
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
41.910 |
|
(c) Other long term
liabilities |
|
0.000 |
|
(d) long-term provisions |
|
0.000 |
|
Total Non-current Liabilities
(3) |
|
41.910 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
|
0.000 |
|
(b) Trade payables |
|
160.621 |
|
(c) Other current liabilities |
|
46.572 |
|
(d) Short-term provisions |
|
8.842 |
|
Total Current Liabilities
(4) |
|
216.035 |
|
|
|
|
|
TOTAL |
|
2030.651 |
|
|
|
|
|
II. ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
|
297.350 |
|
(ii) Intangible Assets |
|
2.442 |
|
(iii) Capital work-in-progress |
|
0.350 |
|
(iv) Intangible assets
under development |
|
0.000 |
|
(b) Non-current
Investments |
|
842.232 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
|
(d) Long-term Loan and
Advances |
|
0.691 |
|
(e) Other Non-current
assets |
|
11.867 |
|
Total Non-Current Assets |
|
1154.932 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
|
158.911 |
|
(b) Inventories |
|
307.185 |
|
(c) Trade receivables |
|
282.112 |
|
(d) Cash and cash equivalents |
|
35.541 |
|
(e) Short-term loans and advances |
|
2.854 |
|
(f) Other current assets |
|
89.116 |
|
Total Current Assets |
|
875.719 |
|
|
|
|
|
TOTAL |
|
2030.651 |
Note:
- The above audited Financial Results were reviewed by the Audit Committee on November 09th, 2017, which were approved by the Board of Directors in the meeting held on November 10th, 2017 and audit of the same has been carried out by the Statutory auditors.
- The Company has adopted Indian Accounting Standards ("Ind AS") from April 1st, 2017 and accordingly these financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 - Interim Financial Reporting prescribed under Section 133 of the Companies Act 2013, read with the relevant rules issued thereunder and other accounting principles generally accepted in India. The date of transition to Ind AS is April 1st, 2015.
- Board of Directors has approved Interim Dividend of INR 0.90 per equity share of INR 2/- each in the meeting held on November 10th, 2017. Interim Dividend will be paid to those Members, whose name appears in the Register of Members of the Company as on November 24th, 2017.
- The Ind AS compliant financial results, pertaining to quarter and six months ended September 30th, 2015 have not been subjected to limited review or audit. However, the management has exercised necessary due diligence to ensure that such financial results provide a true and fair results of the Company in accordance with Ind AS.
- The Statement does not include Ind AS compliant statement of results and statement of assets and liabilities for the previous year ended March 31st, 2017, as the same is not mandatory as per SEBI's circular dated July 05th, 2016.
- Consequent to the introduction of Goods and Services Tax (GST) with effect from July 1st, 2017, Central Excise, Value Added Tax (VAT) etc, have been replaced by GST. In accordance with Ind AS-18 on Revenue and Schedule III of the Companies Act, 2013, these are not included in Gross Revenue from sale of products and services for applicable periods. In view of the aforesaid restructuring of indirect taxes, Gross Revenue from sale of products and services and excise duty for the quarter and six months ended September 30th, 2017 are not strictly comparable with the previous periods.
- The reconciliation of net profit for the quarter and six months ended September 30th, 2016
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office
Equipment
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.55 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
SLK |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
MTN |
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.