|
|
|
MIRA INFORM REPORT
|
Report No. : |
516305 |
|
Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAHANAGAR GAS LIMITED |
|
|
|
|
Registered
Office : |
MGL House, Block No. G-33, Bandra – Kurla Complex, Bandra
(East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-66952941 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 |
|
|
|
|
Date of
Incorporation : |
08.05.1995 |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40200MH1995PLC088133 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 987.800 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM4640G |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCM4640G1ZN |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Supply and Distribution of Natural Gas. [Registered Activity] |
|
|
|
|
No. of Employees
: |
1754 (Approximately) [As on 2017] |
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Mahanagar Gas Limited, (MGL) one of the India's leading Natural Gas Distribution Companies was incorporated on 8th May 1995. MGL is an enterprise of GAIL (India) Limited, Government of Maharashtra and BG Asia Pacific Holdings Pte. Limited (owned by Royal Dutch Shell group). MGL enjoys a near-monopoly status and has a first-mover advantage in retail gas distribution in Greater Mumbai (GA1) and its expansion areas (GA2). MGL has connected 1 million households, over 3500 commercial establishments and 69 industrial establishments. It supplies CNG to more than 0.6 million vehicles which includes above 0.27 million rickshaws and over 0.06 million taxis, 0.27 million cars 3342 BEST/TMT/MSRTC/NMMT/PMPML buses and above 6561 LCVs/Tempos/Trucks/Private buses in Mumbai, Thane, Mira- Bhayander, Navi Mumbai and beyond. These are running on CNG supplied through its wide distribution network of above, 429 km of steel and over 4626 km of PE pipeline system and over 220 CNG filling stations having more than 1256 dispensing points. As per the financial records of 2018, the company has achieved a fair revenue base along with favourable profitability margin of 21.40%. The company possesses strong financial position marked by robust net worth base along with negligible debt balance sheet profile, comfortable liquidity parameter and satisfactory Earnings per share of INR 43.38 against its Face Value of INR 10. The company has its share price trading at around INR 835 on BSE as on June 21, 2018 as against the Face Value (FV) of INR 10. Rating takes into consideration the strength that the company receives from its holding entities. Rating takes into account significant entry barriers for third-party marketers arising mainly from concerns regarding availability of gas at competitive prices. The ratings also take into account the price advantage of gas over alternate fuels (especially in the CNG and domestic segments) and the consequent positive impact on demand. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for
business dealings at usual trade terms and condition. |
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 |
ICRA |
|
Rating |
Long Term Loans = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk |
|
Date |
06.06.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
06.06.2018 |
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 25.06.2018
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 DENIED BY
|
Name : |
Mr. Mehta |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-66785000 |
|
Date : |
20.06.2018 |
91-22-66952941 – Incorrect Number
LOCATIONS
|
Registered / Corporate Office : |
MGL House, Block No. G-33, Bandra – Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66785000 / 66952941 |
|
Fax No.: |
91-22-26540092 / 66756491 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Centrals Office : |
Mira Road Shop No. G-3/4,Giriraj Tower, Saibaba Nagar, Mira-Bhayander Road, Mira Road (East), Thane – 401107, Maharashtra, India Bandra Pay and Accounts Office,Ground Floor, Near Family Court, Bandra Kurla, Complex, Bandra (East), Mumbai – 400051, Maharashtra, India Mulund Shop No- 10, Ground Floor, Arunodaya Shopping Complex, Arunodaya Nagar, Mulund (East), Mumbai – 400081, Maharashtra, India Kandivali Row House No-2, Shivalik Tower, Trishul Complex, Poisar, Kandivali (East), Mumbai – 400101, Maharashtra, India Thane 101 and 102, Landmark Arcade, Eastern Express Highway, Louis Wadi, Thane (West), Thane – 400064, Maharashtra, India Sanpada Siddhant, Plot No. 291, Behind Appetite Hotel, Near NMMC Ward Office, Turbhe Village, Sector- 22, Sanpada, Navi Mumbai – 400705, Maharashtra, India |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Akhil Mehrotra |
|
Designation : |
Chairman |
|
Address : |
Flat- 303/4, A-Wing Lake Lucerne Phase-III, Lake Homes, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Appointment : |
28.05.2017 |
|
DIN No.: |
07197901 |
|
|
|
|
Name : |
Mr. Arun Balakrishnan |
|
Designation : |
Director |
|
Address : |
Flat No. 2102, Sobha Petunia Veerana Palaya, Opposite Lumbini Gardens, Bangalore – 560045, Karnataka, India |
|
Date of Birth/Age : |
25.07.1950 |
|
Date of Appointment : |
21.07.2011 |
|
DIN No.: |
00130241 |
|
|
|
|
Name : |
Mr. Santosh Kumar Bajpai |
|
Designation : |
Director |
|
Address : |
A-60, Plot No. B-9/1, Gail Apartments, Sector-62, Noida – 201307, Uttar Pradesh, India |
|
Date of Birth/Age : |
01.07.1949 |
|
Date of Appointment : |
21.07.2011 |
|
DIN No.: |
00239324 |
|
|
|
|
Name : |
Mr. Premesh Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
6084/B-8 Vasant Kunj, New Delhi – 110070,
India |
|
Date of Appointment : |
09.04.2018 |
|
DIN No.: |
02145534 |
|
|
|
|
Name : |
Mrs. Radhika Vijay Haribhakti |
|
Designation : |
Additional Director |
|
Address : |
51, Maker Tower B, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
Date of Appointment : |
05.03.2017 |
|
DIN No.: |
02409519 |
|
|
|
|
Name : |
Mr. Sunil Porwal |
|
Designation : |
Additional Director |
|
Address : |
18, Avanti, Narayan Dhabolkar Road, Malbar Hills, Mumbai – 400002, Maharashtra, India |
|
Date of Appointment : |
26.05.2017 |
|
DIN No.: |
03500367 |
|
|
|
|
Name : |
Mr. Sanjib Datta |
|
Designation : |
Additional Director |
|
Address : |
C-907, Abhyant Apartments, Vasundhra
Enclave, Delhi – 110096, India |
|
Date of Appointment : |
30.05.2018 |
|
DIN No.: |
07008785 |
|
|
|
|
Name : |
Mr. Raj Kishore Tewari |
|
Designation : |
Director |
|
Address : |
703,Devika Apartment, Vaishali, Ghaziabad – 201001, Uttar Pradesh, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
07056080 |
|
|
|
|
Name : |
Mr. Goutam Ghosh |
|
Designation : |
Wholetime Director |
|
Address : |
3003, Verona, Central Avenue, Forest Club, Hiranandani, Powai, Mumbai –
400076, Maharashtra, India |
|
Date of Appointment : |
20.11.2017 |
|
DIN No.: |
07529446 |
|
|
|
|
Name : |
Mr. Virendra Nath Datt |
|
Designation : |
Additional Director |
|
Address : |
A-160, Gail Appartments, B-9/1, Sector-62, Noida – 201301, Uttar Pradesh, India |
|
Date of Appointment : |
28.05.2017 |
|
DIN No.: |
07823778 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil M Ranade |
|
Designation : |
Chief Financial Officer |
|
Address : |
Flat No. 301, B Wing, Goodwill Co-operative Housing Society, Opposite, Janakalyan Sahakari Bank, J.B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Date of Appointment : |
18.06.2014 |
|
PAN No.: |
AACPR1223N |
|
|
|
|
Name : |
Mr. Alok Kumar Mishra |
|
Designation : |
Company Secretary |
|
Address : |
92, Baudh Nagar, Naubasta, Kanpur – 208021, Uttar Pradesh, India |
|
Date of Appointment : |
09.08.2012 |
|
PAN No.: |
AEUPM1042G |
|
|
|
|
Name : |
Mr. Mehta |
|
Designation : |
Accounts Executive |
SHAREHOLDING PATTERN
AS ON March 2018
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
64205460 |
65.00 |
|
(B) Public |
34572318 |
35.00 |
|
Grand Total |
98777778 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Any Other
(specify) |
32102750 |
32.50 |
|
GAIL (India)
Limited |
32102750 |
32.50 |
|
Sub Total A1 |
32102750 |
32.50 |
|
A2) Foreign |
|
0.00 |
|
Any Other
(specify) |
32102710 |
32.50 |
|
BG Asia Pacific
Holdings Pte Limited |
32102710 |
32.50 |
|
Sub Total A2 |
32102710 |
32.50 |
|
A=A1+A2 |
64205460 |
65.00 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
0 |
0.00 |
|
Mutual Funds/ |
3862927 |
3.91 |
|
Aditya Birla Sun Life
Trustee Private Limited A/C Aditya Birla Sun Life Equity Fund |
1386685 |
1.40 |
|
Foreign Portfolio
Investors |
9559725 |
9.68 |
|
Schroder
International Selection Fund Emerging Asia |
2364765 |
2.39 |
|
Eastspring
Investments India Equity Open Limited |
999684 |
1.01 |
|
Stichting
Depositary Apg Emerging Markets Equity Pool |
994886 |
1.01 |
|
Financial
Institutions/ Banks |
399507 |
0.40 |
|
Insurance
Companies |
1230509 |
1.25 |
|
Sub Total B1 |
15052668 |
15.24 |
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
|
Central
Government/ State Government(s)/ President of India |
9877778 |
10.00 |
|
Governor of
Maharashtra |
9877778 |
10.00 |
|
Sub Total B2 |
9877778 |
10.00 |
|
B3)
Non-Institutions |
0 |
0.00 |
|
Individual share
capital upto INR 0.200 million |
7559269 |
7.65 |
|
Individual share
capital in excess of INR 0.200 million |
92997 |
0.09 |
|
Any Other
(specify) |
1989606 |
2.01 |
|
Trusts |
404077 |
0.41 |
|
HUF |
312642 |
0.32 |
|
Non-Resident Indian
(NRI) |
379401 |
0.38 |
|
Foreign Portfolio
Investor (Category - III) |
40 |
0.00 |
|
Clearing Members |
177298 |
0.18 |
|
Bodies Corporate |
716148 |
0.73 |
|
Sub Total B3 |
9641872 |
9.76 |
|
B=B1+B2+B3 |
34572318 |
35.00 |
BUSINESS DETAILS
|
Line of Business : |
Supply and Distribution of Natural Gas. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Customers : |
|
||||||||||||||
|
|
|
||||||||||||||
|
No. of Employees : |
1754 (Approximately) [As on 2017] |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited · United Bank of India · ICICI Bank · AXIS Bank · Standard Chartered Bank · Yes Bank Limited · BNP PARIBAS · Kotak Mahindra Bank Limited · IDBI Bank Limited · Oriental Bank of Commerce · HDFC Bank · Indian Bank · Punjab National Bank · The Dhanlaxmi Bank Limited · The Development Bank of Singapore Limited · CITI Bank NA · Development Credit Bank Limited |
|
Statutory Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 32nd Floor, Elphistone Mill Compound, Senapati Bapat Marg, Elphistone (West), Mumbai – 400013, Maharashtra, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
Dhananjay V. Joshi and Associates Cost Accountants |
|
Address : |
"CMA Pride" Ground Floor, Plot No. 6, S. No. 16/6, Erandawana Co-operative Housing Society, Erandawana, Pune – 411004, Maharashtra, India |
|
|
|
|
Secretarial Auditors : |
|
|
Name : |
Mehta and Mehta Company Secretaries |
|
Address : |
201-206,
Shiv Smriti, 2nd Floor, 49/A, Dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Parties [As
on 2017] : |
· GAIL (India) Limited · BG Asia Pacific Holdings Pte. Limited (Were promoter joint venturers till June 30, 2016 and w.e.f. July 1, 2016 both are having significant influence on the Company) · BG Energy Holdings Limited (Joint venturer under JV agreement and the JV agreement was assigned to BGAPHPL w.e.f. November 2, 2015) |
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 987.800 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130000000 |
Equity Shares |
INR 10/- each |
INR 1300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98777778 |
Equity Shares |
INR 10/- each |
INR 987.778 Million |
|
|
|
|
|
Details of Shareholders holding more than
5% Shares
|
Equity Shares |
Number
of Shares |
|
GAIL (India)
Limited |
|
|
Number of Shares |
32102740 |
|
Percentage |
32.50 |
|
BG Asia Pacific
Holding Pte. Limited, Singapore |
|
|
Number of Shares |
32102710 |
|
Percentage |
32.50 |
|
Government of
Maharashtra |
|
|
Number of Shares |
9877778 |
|
Percentage |
10.00 |
FINANCIAL DATA
[all figures are
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 |
987.800 |
987.778 |
893.416 |
|
(b) Reserves & Surplus |
19965.700 |
17412.596 |
16390.867 |
|
(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) |
20953.500 |
18400.374 |
17284.283 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12.000 |
27.003 |
43.762 |
|
(b) Deferred tax liabilities (Net) |
1748.300 |
1376.271 |
1199.456 |
|
(c) Other long term
liabilities |
8.600 |
1.959 |
4.627 |
|
(d) long-term provisions |
147.500 |
140.064 |
111.765 |
|
Total Non-current
Liabilities (3) |
1916.400 |
1545.297 |
1359.610 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1100.300 |
1489.599 |
1116.166 |
|
(c) Other
current liabilities |
6080.800 |
4659.553 |
3828.463 |
|
(d) Short-term
provisions |
51.400 |
147.672 |
116.305 |
|
Total Current
Liabilities (4) |
7232.500 |
6296.824 |
5060.934 |
|
|
|
|
|
|
TOTAL |
30102.400 |
26242.495 |
23704.827 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
15280.600 |
13003.093 |
11240.600 |
|
(ii)
Intangible Assets |
38.900 |
44.430 |
46.871 |
|
(iii) Capital
work-in-progress |
3566.200 |
4115.279 |
4288.651 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(v) Trade receivables |
2.000 |
3.662 |
10.832 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
1459.700 |
1116.751 |
727.451 |
|
Total Non-Current
Assets |
20347.400 |
18283.215 |
16314.405 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
6876.800 |
4666.660 |
3934.010 |
|
(b)
Inventories |
240.000 |
237.634 |
180.268 |
|
(c) Trade
receivables |
913.500 |
945.439 |
923.260 |
|
(d) Cash
and cash equivalents |
918.800 |
1481.078 |
1750.339 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
805.900 |
628.469 |
602.545 |
|
Total
Current Assets |
9755.000 |
7959.280 |
7390.422 |
|
|
|
|
|
|
TOTAL |
30102.400 |
26242.495 |
23704.827 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22330.100 |
20339.718 |
20782.973 |
|
|
|
Other Income |
576.800 |
526.572 |
471.778 |
|
|
|
TOTAL |
22906.900 |
20866.290 |
21254.751 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of natural gas and traded items |
10291.600 |
10183.618 |
12296.256 |
|
|
|
Changes in Inventories |
(0.500)
|
0.404 |
0.720 |
|
|
|
Employee Benefits Expenses |
670.200 |
600.191 |
563.038 |
|
|
|
Other Expenses |
3567.700 |
3113.945 |
2830.124 |
|
|
|
TOTAL |
14529.000 |
13898.158 |
15690.138 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
8377.900 |
6968.132 |
5564.613 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.900 |
10.211 |
22.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8377.000 |
6957.921 |
5542.392 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1111.900 |
951.320 |
826.083 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
7265.100 |
6006.601 |
4716.309 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2486.400 |
2072.326 |
1607.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
4778.700 |
3934.275 |
3108.867 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (INR) |
48.38 |
39.83 |
31.47 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
0.000 |
6.072 |
|
Cash generated from operations |
NA |
7328.670 |
5691.058 |
|
Net cash from operating activities |
NA |
5466.796 |
4190.354 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
14.93 |
16.97 |
16.21 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
24.44 |
21.51 |
22.51 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
39.02 |
53.39 |
33.13 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
34.91 |
29.32 |
30.87 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.44 |
0.41 |
0.36 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.24 |
0.24 |
0.22 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.35 |
0.34 |
0.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.90 |
0.93 |
0.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
9308.78 |
682.41 |
250.42 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
21.40 |
19.34 |
14.96 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
15.87 |
14.99 |
13.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.81 |
21.38 |
17.99 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.35 |
1.26 |
1.46 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.32 |
1.23 |
1.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.70 |
0.70 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.01 |
0.03 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.35 |
1.26 |
1.46 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 835.00 |
FINANCIAL ANALYSIS
[all figures are
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 |
893.416 |
987.778 |
987.800 |
|
Reserves & Surplus |
16390.867 |
17412.596 |
19965.700 |
|
Net
worth |
17284.283 |
18400.374 |
20953.500 |
|
|
|
|
|
|
Long-Term Borrowings |
43.762 |
27.003 |
12.000 |
|
Short Term Borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
43.762 |
27.003 |
12.000 |
|
Debt/Equity
ratio |
0.003 |
0.001 |
0.001 |
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 |
20782.973 |
20339.718 |
22330.100 |
|
|
|
(2.133) |
9.786 |
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
|
20782.973 |
20339.718 |
22330.100 |
|
Profit |
3108.867 |
3934.275 |
4778.700 |
|
|
14.96% |
19.34% |
21.40% |
LEGAL CASE
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION (As on 2017)
The company is a limited company domiciled in India and was incorporated on May 8, 1995. Equity shares of the Company are listed in India on the Bombay Stock Exchange and The National Stock Exchange. The registered office of the Company is located at MGL House, G-33 Block, Bandra- Kurla Complex, Bandra (East), Mumbai 400051. MGL is in the business of City Gas Distribution (“CGD”), presently supplying Natural Gas in the city of Mumbai including its adjoining areas and the Raigad district, in the State of Maharashtra, India.
The financial statements are presented in Indian Rupee (INR) which is also Functional Currency of the Company. The financial statements were authorised for issue by the directors on May 26, 2017.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2018 INR
In Million |
31.03.2017 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred Payment Liabilities |
|
|
|
Interest Free Sales Tax Deferred Loan # |
NA |
27.003 |
|
|
|
|
|
Total |
NA |
27.003 |
|
NOTES: #
Sales tax deferment is in respect of Sales Tax collected for the period 1996-97
to 2000-01. The same is being repaid in 6 equal annual instalments on 1st
April every year starting from the 14th year from the year of availment of
the Loan. |
||
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
A67360529 |
90160614 |
HSBC OFFSHORE BANKING UNIT MAURITIUS |
03/11/2004 |
- |
14/08/2009 |
300000000.0 |
5TH FLOOR; LES CASCADEES BULD.; EDITH CAVELL STREEPORT LOULS MAURITIUS NAMU |
|
2 |
A62115001 |
90157336 |
INDUSTRIAL DEVL. BANK OF INDIA |
03/11/1999 |
03/11/2004 |
28/04/2009 |
590000000.0 |
IDBI TOWERCUFFE PARADEMUMBAIMH400005IN |
|
3 |
Y10259661 |
90159891 |
UNITED BANK OF INDIA |
01/02/2000 |
- |
24/06/2004 |
199035000.0 |
C - 14; C - 15; MMRDA COMPLEXBANDRA KURLA COMPLEX; BANDRA EAST MUMBAIMH 400051IN |
|
4 |
Y10255627 |
90155857 |
GLOBAL TRUST BANK LTD. |
23/07/1993 |
- |
11/02/2002 |
7000000.0 |
TRAMBAK HOUSE; PLOT NO. 117; 1ST ROADT.P.S. IV; BANDRA WEST MUMBAIMH 400050IN |
|
5 |
Y10256712 |
90156942 |
THE HONGKONG & SHANGHANI BANKING CORP. LTD. |
07/08/1998 |
- |
03/06/2000 |
150000000.0 |
52/60; MAHATMA GANDHI ROADFORTMUMBAIMH400001IN |
|
6 |
Y10256707 |
90156937 |
THE TIMES BANK LTD. |
30/07/1998 |
- |
09/08/1999 |
120000000.0 |
TIMES OF INDIA BULD,DR. D. N. ROAD, MUMBAI MH400001IN |
|
7 |
Y10256671 |
90156901 |
GLOBAL TRUST BANK LTD. |
20/06/1998 |
- |
31/03/1999 |
3000000.0 |
TRAMBAK HOUSE; PLOT NO. 117; 1ST ROADT.P.S. IV; BANDRA WEST MUMBAI MH400050IN |
FIXED ASSETS:
· Buildings & Bunk Houses
· Roads & Fences
· Plant & Equipment - Gas Distribution System
· Plant & Equipment – Others
· Computers
· Electrical Installations
· Office Equipments
· Communication Systems
· Furniture and Fixtures
· Computer Softwares / Licences (Acquired)
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 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.