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MIRA INFORM REPORT
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Report No. : |
515876 |
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Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ASHOKA BUILDCON LIMITED |
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Registered
Office : |
Survey No. 861, Ashoka House, Ashoka Marg, Vadala, Nashik-422011,
Maharashtra |
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Tel. No.: |
91-253-3011705 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
13.05.1993 |
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CIN No.: [Company Identification
No.] |
L45200MH1993PLC071970 |
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Capital
Investment / Paid-up Capital : |
INR 935.744 Million |
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PAN No.: [Permanent Account No.] |
AABCA9292J |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCA9292J1ZA |
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TIN No.: |
27640298453 |
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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 business of Construction of
Infrastructure facilities on Engineering, Procurement and Construction Basis
(EPC) and Built, Operate and Transfer (BOT) Basis and Sale of Ready Mix
Concrete and Bitumen. (Registered
Activity) |
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No. of Employees
: [As On
31.03.2017] |
1815 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1993. It is engaged in Construction activities and also engaged in Power Transmission and Distribution on EPC basis. For the financial year 2018, the company has achieved 19.32% growth in its revenue as compared to the previous year and has maintained healthy margin of 9.68% during the year under review. The rating takes into consideration strong financial profile of the company 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 232.20 against the face value (FV) of INR 05 on BSE as on 8th May, 2018. Rating also derives strength from company’s established track record of business. However, rating strengths are partially offset by working capital-intensive operations. Further, allegations of corruption were levied against the company as well as its owners by income tax (IT) Department stating that the company has allegedly financed constructions via unfair means. Business is active. Payment seems to be slow. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term = AA- |
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Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
21.09.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
21.09.2017 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 22.06.2018.
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 DECLINED BY
|
Name : |
Mr. Prem Kumar |
|
Designation : |
Not Divulged |
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Contact No.: |
91-9323080212 |
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Date : |
18.06.2018 |
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-253-3011705]
LOCATIONS
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Registered/
Corporate Office : |
Survey No. 861, Ashoka House, Ashoka Marg, Vadala, Nashik – 422011, Maharashtra, India |
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Tel. No.: |
91-253-3011705 |
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Mobile No.: |
91-9323080212 (Mr. Prem Kumar) 91-8805430003 (Mr. Sameet Srivastava) |
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Fax No.: |
91-253-2236704 |
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E-Mail : |
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Website : |
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Corporate Office: |
5th Floor, V-Tech IT Park, Survey No.113/2, Wadala Road, Near Indira Nagar, Jogging Park, Nashik - 422009, Maharashtra, India |
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Branch Offices : |
· The Capital Building, Opposite ICICI Bank, A/807, 8th Floor, BKC- Bandra (East), Mumbai-400051, Maharashtra, India Tel. No.: 91-22-67399700 · 61, Suryodaya Apartment, PKT-8-PH-1, Sector-12, Dwarka, New Delhi-110075, India Tel. No.: 91-11-28032762 · E-28/29, Ashoka Arch, Opposite Nisarg Mangal Karyala, Market Yard, Gultekdi, Pune-411 037, Maharashtra, India Tel. No.: 91-20-24270744/ 24266600 Fax No.: 91-20-24270832 · Asha Tower, 3rd Floor, Ramkirshna, Ashram Road, Plot No. 147, Dhantoli, Nagpur-440012, Maharashtra, India Tel. No.: 91-712-2440172 |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Satish Dhondulal Parakh |
|
Designation : |
Managing Director |
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Address : |
2/3, Aditya, Behind Aditya Petrol Pump, IBP Colony, Gangapur Road, Nasik-422005, Maharashtra, India |
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Date of Birth/Age : |
24.10.1958 |
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Qualification : |
B. E. – Civil |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
00112324 |
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Name : |
Mr. Michael Philip Pinto |
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Designation : |
Director |
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Address : |
405, Shalaka Maharshi Karve Road, Mumbai-400021, Maharashtra, India |
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Date of Birth/Age : |
27.05.1943 |
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Qualification : |
Master in Public Administration |
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Date of Appointment : |
31.05.2007 |
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DIN No.: |
00021565 |
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Name : |
Mr. Gyan Chand Daga |
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Designation : |
Director |
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Address : |
F-2301, Oberoi Splendor, J V Link Road, Opposite Majas Depot, Andheri (East), Mumbai-400060, Maharashtra, India |
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Date of Appointment : |
18.02.2013 |
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DIN No.: |
00101534 |
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Name : |
Mr. Sharadchandra Damodar Abhyankar |
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Designation : |
Director |
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Address : |
303, Marvel Residency Co-Operative Housing Society Limited, Nanda Patkar Road, Vile Parle (East), Mumbai-400057, Maharashtra, India |
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Date of Birth/Age : |
03.10.2007 |
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Qualification : |
B.A./ LL.M and Solicitor |
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Date of Appointment : |
03.10.2007 |
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DIN No.: |
00108866 |
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Name : |
Mr. Albert Tauro |
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Designation : |
Director |
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Address : |
A-2, 302, Park Island, Shastri Nagar, Yerwada, Pune-411006, Maharashtra, India |
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Date of Birth/Age : |
11.03.1951 |
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Qualification : |
M. Com., CAIIB |
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Date of Appointment : |
18.05.2012 |
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DIN No.: |
01860786 |
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Name : |
Mrs. Sunanda Vishnu Dandekar |
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Designation : |
Director |
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Address : |
Flat 604, Meghdoot A CHS Limited, Wing - A, Vile Parle (East), Shahaji Raje Marg, Mumbai-400057, Maharashtra, India |
|
Date of Appointment : |
30.03.2015 |
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DIN No.: |
07144108 |
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Name : |
Mr. Ashok Motilal Katariya |
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Designation : |
Whole-time Director/ Executive Chairman |
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Address : |
Anshuman, Sahadev Nagar, Gangapur Road, Nasik-422013, Maharashtra, India |
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Date of Birth/Age : |
20.07.1949 |
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Qualification : |
B. E. – Civil |
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Date of Appointment : |
13.05.1993 |
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DIN No.: |
00112240 |
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Name : |
Mr. Sanjay Prabhakar Londhe |
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Designation : |
Whole-time Director |
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Address : |
Utkarsha, SBI Colony, Bhabha Nagar, Near Mumbai Naka, Nasik-422001, Maharashtra, India |
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Date of Birth/Age : |
27.04.1964 |
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Qualification : |
B. E. – Civil, B. E. – F. I. E. |
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Date of Appointment : |
01.04.2015 |
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DIN No.: |
00112604 |
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Name : |
Mr. Milap Raj Bhansali |
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Designation : |
Whole-time Director |
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Address : |
233 B, Jolly Maker 1, Cuffe Parade, Mumbai-400005, Maharashtra, India |
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Date of Appointment : |
07.02.2014 |
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DIN No.: |
00181897 |
KEY EXECUTIVES
|
Name : |
Mr. Paresh Chatursinha Mehta |
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Designation : |
Chief Finance Officer (Kmp) |
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Address : |
Fno-5 Pno-42, Arun Prabha Resi, Anandwan Colony, Nashik-422007, Maharashtra, India |
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Date of Appointment : |
12.08.2014 |
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PAN No: |
AGWPM0969L |
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Name : |
Mr. Manoj Achyut Kulkarni |
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Designation : |
Company Secretary |
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Address : |
7, Hariom Apartment, Khodade Nagar, Gandhinagr, Takli Road, Nasik-422006, Maharashtra, India |
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Date of Appointment : |
01.02.2006 |
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PAN No: |
AFKPK7070H |
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Name : |
Mr. Sameet Srivastava |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
Category of Shareholders |
No. of Shares |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % |
|
(A) Promoter & Promoter Group |
101038785 |
53.99 |
|
(B) Public |
86110026 |
46.01 |
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Total |
187148811 |
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 |
98768775 |
52.78 |
|
|
Shobha Satish
Parakh |
25363675 |
13.55 |
|
|
Asha Ashok
Katariya |
13312551 |
7.11 |
|
|
Ashok Motilal
Katariya |
9633775 |
5.15 |
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Ashish Ashok
Katariya |
9125732 |
4.88 |
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Ashish Ashok
Katariya - HUF |
8313510 |
4.44 |
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Astha Ashish
Katariya |
6720262 |
3.59 |
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Ashok Motilal
Katariya - HUF |
9702981 |
5.18 |
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Shweta Keyur Modi |
4622866 |
2.47 |
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Satish Parakh |
3936065 |
2.10 |
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Satish Dhondulal
Parakh - HUF |
3593525 |
1.92 |
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Ayush Ashish
Kataria |
1913619 |
1.02 |
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|
Aditya Satish
Parakh |
1715319 |
0.92 |
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|
Snehal Manjeet
Khatri |
280235 |
0.15 |
|
|
Sanjay Prabhakar
Londhe |
279101 |
0.15 |
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|
Anjali Sanjay
Londh |
99031 |
0.05 |
|
|
Rohan Sanjay
Londhe |
98800 |
0.05 |
|
|
Ankita Aditya
Parakh |
50000 |
0.03 |
|
|
Padmabai
Fakirchand Pophaliya |
7728 |
0.00 |
|
|
Any Other
(specify) |
2270010 |
1.21 |
|
|
Ashoka Premises
Pvt Ltd |
2194620 |
1.17 |
|
|
Ashoka Buildwell
Developers Pvt. Ltd. |
53970 |
0.03 |
|
|
Ashoka Builders
(Nasik) Pvt. Ltd. |
21420 |
0.01 |
|
|
Sub Total A1 |
101038785 |
53.99 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
101038785 |
53.99 |
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) |
|
|
|||
|
|||
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|||
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
57034473 |
30.48 |
|
|
Hdfc Trustee
Company Limited - Hdfc Prudence Fund |
10500000 |
5.61 |
|
|
Reliance Capital
Trustee Co. Ltd-A/C Reliancesmall Cap Fund |
10381288 |
5.55 |
|
|
L And T Mutual Fund
Trustee Ltd-L And T India Prudence Fund |
9216261 |
4.92 |
|
|
Icici Prudential
Midcap Fund |
7219013 |
3.86 |
|
|
Sundaram Mutual
Fund A/C Sundaram Smile Fund |
5055292 |
2.70 |
|
|
Franklin India
Smaller Companies Fund |
4925222 |
2.63 |
|
|
Canara Robeco Mutual
Fund A/C Canara Robeco Emerging Equities |
3758960 |
2.01 |
|
|
Aditya Birla Sun
Life Trustee Private Limited A/C Aditya Birla Sun Life Balanced 95 Fund |
2479397 |
1.32 |
|
|
Alternate
Investment Funds |
308561 |
0.16 |
|
|
Foreign Portfolio
Investors |
9170192 |
4.90 |
|
|
India Midcap
(Mauritius) Ltd. |
2200673 |
1.18 |
|
|
Financial
Institutions/ Banks |
583096 |
0.31 |
|
|
Sub Total B1 |
67096322 |
35.85 |
|
|
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 |
4942224 |
2.64 |
|
|
Individual share
capital in excess of INR 0.200 Million |
7915248 |
4.23 |
|
|
Any Other
(specify) |
6156232 |
3.29 |
|
|
HUF |
285231 |
0.15 |
|
|
Non-Resident
Indian (NRI) |
238990 |
0.13 |
|
|
Clearing Members |
151228 |
0.08 |
|
|
Bodies Corporate |
5480783 |
2.93 |
|
|
Icici Prudential
Life Insurance Company Limited |
2302518 |
1.23 |
|
|
Sub Total B3 |
19013704 |
10.16 |
|
|
B=B1+B2+B3 |
86110026 |
46.01 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Construction of
Infrastructure facilities on Engineering Procurement and Construction Basis
(EPC) and Built Operate and Transfer (BOT) Basis and Sale of Ready Mix
Concrete and Bitumen. (Registered
Activity) |
|
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Brand Names : |
‘’ASHOKA’’ |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : [As on 31.03.2017] |
1815 [Approximately] |
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Bankers : [As On 31.03.2017] |
· Kotak Mahindra Bank Limited 1st Floor Bakhtawar Tower Nariman Point Branch Mumbai-400021 Maharashtra India ·
HDFC Bank Limited HDFC Bank House Senapati Bapat Marg Lower Parel (West) Mumbai - 400013 Maharashtra India ·
Axis Bank Limited Trishul, 3rd Floor, Opp. Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad - 380006, Gujarat, India · ICICI Bank Limited ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara - 390007, Gujarat, India ·
Bank of India ·
Bank of Maharashtra ·
Canara Bank ·
Corporation Bank ·
Federal Bank Limited ·
Indian Bank ·
IDFC Bank Limited ·
State Bank of India |
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Facilities : |
|
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Financial Institution: [As on 31.03.2017] |
· Srei Equipment Finance Limited 'Vishwakarma' 86C Topsia RoadKolkata-700046 West Bengal India · Axis Trustee Services Limited Axis House, Bombay Dyeing Mills, Compound, Pandhurang
Budhkar MARG, Worli, Mumbai – 400025, Maharashtra, India |
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Auditors : |
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|
Name : |
M. P. Chitale and Company Chartered Accountants |
|
Address : |
Mumbai Maharashtra India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Wholly Owned Subsidiary : [As on 31.03.2017] |
·
Ashoka
Infrastructure Limited ·
Ashoka
Infraways Limited ·
Viva
Highways Limited ·
Ashoka Technologies
Private Limited ·
Ashoka
Cuttak Angul Tollway Limited ·
Viva
Infrastructure Limited ·
Ashoka
Highways Reseach Centre Private Limited ·
Ashoka
Bagewadi Saundatti Road Limited ·
Ashoka
Hungund Talikot Road Limited ·
Ashoka Path
Nirman (Nasik) Private Limited ·
Unison
Enviro Private Limited |
|
|
|
|
Subsidiary Company : [As on 31.03.2017] |
·
Ashoka-DSC
Katni Bypass Road Limited ·
Ashoka
Pre-Con Private Limited ·
Ashoka
Concessions Limited ·
Ashoka GVR
Mudhol Nipani Roads Limited ·
Jaora
Nayagaon Toll Road Co. Private Limited |
|
|
|
|
Stepdown Subsidiary : [As on 31.03.2017] |
·
Ashoka
Highways (Bhandara) Limited ·
Ashoka
Highways (Durg) Limited ·
Ashoka
Sambalpur Baragarh Tollway Limited ·
Ashoka
Belgaum Dharwad Tollway Limited ·
Ashoka
Dhankuni Kharangpur Tollway Limited ·
Ashoka
Kharar Ludhiana Road Limited ·
Blue
Feather Infotech Private Limited ·
Ratnagiri
Natural Gas Private Limited ·
Endurance
Road Developers Private Limited |
|
|
|
|
Joint Ventures : [As on 31.03.2017] |
·
GVR
Ashoka Chennai ORR Limited ·
Abhijeet
Ashoka Infrastructure Private Limited
·
Mohan
Mutha Ashoka Buildcon LLP ·
Cube
Ashoka JV Co. ·
PNG
Tollway Limited |
|
|
|
|
Joint Operations: [As on 31.03.2017] |
·
Ashoka
Infrastructures ·
Ashoka
Valecha JV ·
ABL
BIPL JV ·
BIPL
ABL JV |
|
|
|
|
Partnership Firm: [As on 31.03.2017] |
· Ashoka Bridgeways ·
Ashoka Highway Ad. |
|
|
|
|
Joint Venture
Partner: [As on 31.03.2017] |
· Macquaire SBI Infrastructure Investment Pte Limited · SBI Macquaire Infrastructure Trust |
|
|
|
|
Related party with
whom transaction have taken place during the year: [As on 31.03.2017] |
· Ashoka Township ·
Hotel
Evening Inn Private Limited
·
Ashoka
Education Foundation ·
Ashoka
Institute of Medical Sciences & Research · Ashoka Builders (Nasik) Private Limited · A 1 Tiles Private Limited · Ashoka Vastu Akruti Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : Not Available
Issued Subscribed & Paid-up Capital : INR 935.744
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
248000000 |
Equity Shares |
INR 5/- each |
INR 1240.000 Million |
|
|
|
|
|
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
187148811 |
Equity Shares |
INR 5/- each |
INR 935.744 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
935.744 |
935.744 |
935.744 |
|
(b) Reserves & Surplus |
18327.064 |
17706.566 |
16021.914 |
|
(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) |
19262.808 |
18642.310 |
16957.658 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1214.085 |
885.870 |
687.010 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1727.083 |
1832.167 |
1110.703 |
|
(d)
long-term provisions |
265.680 |
186.235 |
575.734 |
|
Total
Non-current Liabilities (3) |
3206.848 |
2904.272 |
2373.447 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
37.306 |
882.229 |
1944.002 |
|
(b)
Trade payables |
5927.156 |
5276.252 |
4416.832 |
|
(c)
Other current liabilities |
10496.725 |
6228.709 |
4974.009 |
|
(d)
Short-term provisions |
337.919 |
441.616 |
31.510 |
|
Total
Current Liabilities (4) |
16799.106 |
12828.806 |
11366.353 |
|
|
|
|
|
|
TOTAL |
39268.762 |
34375.388 |
30697.458 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2063.925 |
1574.496 |
1318.776 |
|
(ii)
Intangible Assets |
109.896 |
113.702 |
192.965 |
|
(iii)
Capital work-in-progress |
97.421 |
158.414 |
36.347 |
|
(iv) Intangible assets under development |
52.382 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
13182.066 |
13064.696 |
12299.568 |
|
(c) Deferred tax assets
(net) |
349.498 |
178.684 |
199.073 |
|
(d) Long-term Loan
and Advances |
3274.474 |
463.569 |
19.840 |
|
(e)
Other Non-current assets |
2032.216 |
1017.540 |
1319.809 |
|
Total
Non-Current Assets |
21161.878 |
16571.101 |
15386.378 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1459.090 |
9306.256 |
7962.885 |
|
(c)
Trade receivables |
8600.341 |
5875.245 |
5799.005 |
|
(d)
Cash and cash equivalents |
1234.595 |
638.109 |
274.442 |
|
(e)
Short-term loans and advances |
6319.707 |
960.232 |
935.548 |
|
(f)
Other current assets |
493.151 |
1024.445 |
339.200 |
|
Total
Current Assets |
18106.884 |
17804.287 |
15311.080 |
|
|
|
|
|
|
TOTAL |
39268.762 |
34375.388 |
30697.458 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
24482.627 |
20519.041 |
19434.923 |
|
|
|
Other Income |
977.915 |
719.168 |
982.956 |
|
|
|
TOTAL |
25460.542 |
21238.209 |
20417.879 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
8178.385 |
5767.403 |
8619.150 |
|
|
|
Employees benefits expense |
1066.841 |
901.145 |
729.680 |
|
|
|
Other expenses |
937.504 |
574.806 |
590.313 |
|
|
|
Construction Expenses |
11345.950 |
10610.822 |
6960.871 |
|
|
|
Excise Duty on Sales |
19.814 |
68.317 |
56.495 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
94.539 |
|
|
|
TOTAL |
21548.494 |
17922.493 |
17051.048 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST TAX DEPRECIATION AND AMORTISATION |
3912.048 |
3315.716 |
3366.831 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
485.339 |
474.325 |
666.165 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX DEPRECIATION AND AMORTISATION |
3426.709 |
2841.391 |
2700.666 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
532.227 |
507.352 |
670.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
2894.482 |
2334.039 |
2029.982 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
524.424 |
494.396 |
641.582 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2370.058 |
1839.643 |
1388.400 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
|
Basic
|
12.66 |
9.83 |
7.49 |
|
|
|
Diluted
|
12.66 |
9.83 |
7.42 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
236.944 |
1706.536 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
5271.811 |
(2786.820) |
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
NA |
4549.845 |
(3495.859) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
128.22 |
104.51 |
108.91 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.85 |
3.49 |
3.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
264.53 |
333.92 |
187.04 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.68 |
0.36 |
0.42 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.68 |
1.80 |
2.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.46 |
0.41 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.06 |
0.11 |
0.26 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.87 |
0.69 |
0.67 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.12 |
0.10 |
0.09 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.06 |
6.99 |
5.05 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
9.68 |
8.97 |
7.14 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.04 |
5.35 |
4.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
12.30 |
9.87 |
8.19 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.08 |
1.39 |
1.35 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.99 |
0.66 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.49 |
0.54 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.34 |
2.14 |
4.64 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.08 |
1.39 |
1.35 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 5/- |
|
|
|
|
Market Value |
INR 232.20/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
935.744 |
935.744 |
935.744 |
|
Reserves & Surplus |
16021.914 |
17706.566 |
18327.064 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
16957.658 |
18642.310 |
19262.808 |
|
|
|
|
|
|
long-term borrowings |
687.010 |
885.870 |
1214.085 |
|
Short term borrowings |
1944.002 |
882.229 |
37.306 |
|
Total
borrowings |
2631.012 |
1768.099 |
1251.391 |
|
Debt/Equity
ratio |
0.155 |
0.095 |
0.065 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
19434.923 |
20519.041 |
24482.627 |
|
|
|
5.578 |
19.317 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
19434.923 |
20519.041 |
24482.627 |
|
Profit |
1388.400 |
1839.643 |
2370.058 |
|
|
7.14% |
8.97% |
9.68% |
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 |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
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 |
Yes |
|
23 |
Financials if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders if available |
Yes |
|
31 |
External Agency Rating if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G87408431 |
100176860 |
SREI EQUIPMENT FINANCE LIMITED |
05/05/2018 |
- |
- |
29351898.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
2 |
G87409363 |
100176862 |
SREI EQUIPMENT FINANCE LIMITED |
05/05/2018 |
- |
- |
29355030.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
3 |
G87410064 |
100176864 |
SREI EQUIPMENT FINANCE LIMITED |
05/05/2018 |
- |
- |
29427200.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
4 |
G87411898 |
100176869 |
SREI EQUIPMENT FINANCE LIMITED |
05/05/2018 |
- |
- |
29884752.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
5 |
G87412300 |
100176873 |
SREI EQUIPMENT FINANCE LIMITED |
05/05/2018 |
- |
- |
30013122.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
6 |
G88732706 |
100180590 |
AXIS BANK LIMITED |
28/03/2018 |
- |
- |
98796086.0 |
TRISHUL, 3RD FLOOR, OPP. SAMARTHESHWAR TEMPLE,LAW GARDEN, ELLIS BRIDGE,AHMEDABADGJ380006IN |
|
7 |
G82896705 |
100166639 |
SREI EQUIPMENT FINANCE LIMITED |
09/03/2018 |
- |
- |
53965000.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
8 |
G82896598 |
100166640 |
SREI EQUIPMENT FINANCE LIMITED |
09/03/2018 |
- |
- |
3810000.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
9 |
G82897547 |
100166642 |
SREI EQUIPMENT FINANCE LIMITED |
09/03/2018 |
- |
- |
36473248.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
10 |
G80646623 |
100165815 |
HDFC BANK LIMITED |
03/01/2018 |
- |
- |
2853000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
11 |
G74177940 |
100148349 |
HDFC BANK LIMITED |
30/12/2017 |
- |
- |
103412000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
12 |
G72167588 |
100143236 |
HDFC BANK LIMITED |
02/12/2017 |
- |
- |
1219858.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL (WEST)MUMBAIMH400013IN |
|
13 |
G70190699 |
100140078 |
HDFC BANK LIMITED |
27/11/2017 |
- |
- |
2166748.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL (WEST)MUMBAIMH400013IN |
|
14 |
G76965557 |
100156406 |
HDFC BANK LIMITED |
03/11/2017 |
- |
- |
2598000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
15 |
G76967280 |
100156422 |
HDFC BANK LIMITED |
03/11/2017 |
- |
- |
2477000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
16 |
G61083143 |
100132672 |
SREI EQUIPMENT FINANCE LIMITED |
15/10/2017 |
- |
- |
27658260.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
17 |
G64140866 |
100135474 |
HDFC BANK LIMITED |
12/10/2017 |
- |
- |
151462000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
18 |
G83161042 |
100167368 |
HDFC BANK LIMITED |
14/09/2017 |
- |
- |
1306065.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
19 |
G83158394 |
100167358 |
HDFC BANK LIMITED |
05/08/2017 |
- |
- |
745656.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
20 |
G50486455 |
100115905 |
HDFC BANK LIMITED |
20/07/2017 |
- |
- |
17990000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL (WEST)MUMBAIMH400013IN |
|
21 |
G50816602 |
100116698 |
HDFC BANK LIMITED |
30/06/2017 |
- |
- |
2407584.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL (WEST)MUMBAIMH400013IN |
|
22 |
G51286698 |
100117951 |
SREI EQUIPMENT FINANCE LIMITED |
30/06/2017 |
- |
- |
26851679.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
23 |
G51286185 |
100117949 |
SREI EQUIPMENT FINANCE LIMITED |
30/06/2017 |
- |
- |
26460000.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
24 |
G51286599 |
100117950 |
SREI EQUIPMENT FINANCE LIMITED |
30/06/2017 |
- |
- |
26814343.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
25 |
G51286201 |
100117952 |
SREI EQUIPMENT FINANCE LIMITED |
30/06/2017 |
- |
- |
24846181.0 |
'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWE700046IN |
|
26 |
G49946148 |
100114738 |
ICICI BANK LIMITED |
30/06/2017 |
- |
- |
29981053.0 |
ICICI BANK TOWER, NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
|
27 |
G58044041 |
100108775 |
AXIS TRUSTEE SERVICES LIMITED |
16/06/2017 |
29/09/2017 |
- |
92000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
|
28 |
G50487065 |
100115906 |
HDFC BANK LIMITED |
07/06/2017 |
- |
- |
1098126.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL (WEST)MUMBAIMH400013IN |
|
29 |
G44519478 |
100099421 |
HDFC BANK LIMITED |
16/05/2017 |
- |
- |
3558000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
|
30 |
G47933056 |
100109660 |
HDFC BANK LIMITED |
06/05/2017 |
- |
- |
24602000.0 |
HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL WESTMUMBAIMH400013IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans from related parties |
|
|
|
Subsidiaries |
|
261.303 |
|
Joint
Ventures |
|
212.240 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Supply chain finance - from banks |
|
203.856 |
|
|
|
|
|
Total |
NA |
677.399 |
GENERAL INFORMATION
[AS On 31.03.2017]
The
Company is a public limited company domiciled in India and incorporated
on May 13 1993 under
the Provisions of Companies Act 1956. The registered office of company is located
at S.No.861 Ashoka House Ashoka Marg Vadala Nashik Maharashtra 422011.Shares of
the company are listed on Bombay Stock Exchange (BSE) and National Stock
Exchange (NSE).
Company is presently engaged
in the business of construction of infrastructure facilities on Engineering
Procurement and Construction Basis (EPC) and Built Operate and Transfer (BOT)
Basis and Sale of Ready Mix Concrete. The Company has promoted Special Purpose
Vehicles (SPVs) for some of its projects wherein ‘Toll Collection Rights’
are received in exchange
of the Construction Cost. For this the SPVs significantly engage the services
of the Company for contract related activities due to inherent execution
capabilities / expertise and experience of the Company.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
Bank Guarantees Issued: |
|
|
|
i) on behalf of Group entities |
|
6696.973 |
|
ii) to third party |
|
11253.053 |
|
Corporate Guarantee issued by
the Company in favour of Banks/ Financial Institutions for finance raised by
Companies under the same management and against mobilisation advance. |
|
14526.872 |
|
Claims against the Company not acknowledged as debts |
|
413.293 |
|
Liability of Duty against Export Obligations |
|
3.918 |
|
Disputed Duties: |
|
|
|
i) Income Tax |
|
303.004 |
|
ii) Sales Tax |
|
544.628 |
|
iii) Customs |
|
9.334 |
|
iv) Service Tax |
|
7.106 |
|
v) Others |
|
108.861 |
|
Resurfacing obligation as per concession agreement |
|
5.438 |
|
|
|
|
|
Total |
NA |
33872.480 |
FIXED ASSETS: [As
On 31.03.2017]
Tangible Assets
· Leasehold
· Freehold
· Buildings
· Plant & Machineries
· Data Processing Equipment’s
· Office Equipment’s
· Furniture & Fixtures
· 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 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 68.20 |
|
UK Pound |
1 |
INR 89.58 |
|
Euro |
1 |
INR 78.79 |
INFORMATION
DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
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.