|
|
|
MIRA INFORM REPORT
|
Report No. : |
494776 |
|
Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
L&T VALVES LIMITED [w.e.f. 29.04.2013] |
|
|
|
|
Formerly Known
As : |
AUDCO INDIA LIMITED |
|
|
|
|
Registered Office
: |
L&T House, Ballard Estate, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-22618181 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
23.11.1961 |
|
|
|
|
Com. Reg. No.: |
11-012188 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 180.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1961PLC012188 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA9647E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and sale of Industrial Valves. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Larsen and Toubro Limited’ and was incorporated on 23rd November 1961. The company manufacturer’s valves for the industry like: Oil and Gas, Power, Petrochemical, Fertilizers and Pharmaceuticals. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, the company has achieved 8.15% growth in its revenue as compared to previous year revenue and has maintained decent profitability margin of 9.41% during the year under review. Rating takes into consideration healthy financial profile on back of low financial leverage with favorable capital structure and comfortable liquidity parameters. Rating also takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. However, rating strength partially offset by vulnerability of its operating margins to volatility in raw material prices and working capital intensive operations. Business is active. Payment seems to be regular. The company can be considered good for normal 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 Rating=AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
31.05.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating =A1+ |
|
Rating Explanation |
Very Strong degree of safety and carry
lowest credit risk |
|
Date |
31.05.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 01.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-22-67525656
Given number 91-22-22618181 – Ringing
LOCATIONS
|
Registered Office : |
L&T House, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-67525656/ 67053690 |
|
Fax No.: |
91-22-67051027 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
L & T Campus, TC-3, Tower A, 2nd Floor, Mount - Poonamallee Road, Manapakkam, Chennai – 600089, Tamilnadu, India |
|
Tel. No.: |
91-44-22498201/ 22529855 / 22529701 |
|
Fax No.: |
91-44-22492794 / 22529870 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
PB No 976, Mount Poonamallee Road, Manapakkam, Chennai - 600089, Tamilnadu, India |
|
|
|
|
Factory 2 : |
607-656, L&T Campus, L&T By Pass Road, Malumichampatti, Coimbatore - 641050, Tamilnadu, India |
|
|
|
|
Factory 3 : |
Enattur Village, Karaipettai, Kancheepuram - 631552, Tamilnadu, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Nugahalli Krishna Ranganath |
|
Designation : |
Additional Director |
|
Address : |
Apt 5, Sreshtha Appartments, Old No:57 Subramaniya Street, Abhiramapuram Chennai – 600018, Tamilnadu, India |
|
Date of Appointment : |
21.09.2016 |
|
DIN No.: |
00004044 |
|
|
|
|
Name : |
Mr. Pathik Rajmalbhai Kothari |
|
Designation : |
Director |
|
Address : |
Lohtse Cooperative Housing Society, Flat 3A, Ruia Park, Juhu, Mumbai -
400049, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1946 |
|
Qualification : |
B.E
(MECH), DIP IN Operations MGMT. |
|
Date of Appointment : |
19.06.2014 |
|
DIN No.: |
01773291 |
|
|
|
|
Name : |
Mr. Siva Kameswari Vissa |
|
Designation : |
Additional Director |
|
Address : |
Old No.48 New No.53 Flat F Akshaya Homes 3rd Main Road Gandhi- Nagar Adyar, Chennai – 600020, Tamilnadu, India |
|
Date of Appointment : |
21.09.2016 |
|
DIN No.: |
02336249 |
|
|
|
|
Name : |
Mr. Subramanian Ramakrishnan Subramanian |
|
Designation : |
Director |
|
Address : |
4G, K G Srivatsava Gardens, 9, South Avenue Road, Srinagar Colony,
Saidapet, Chennai - 600015, Tamilnadu, India |
|
Date of Birth/Age : |
05.10.1954 |
|
Qualification : |
BE
(MECH) |
|
Date of Appointment : |
05.11.2011 |
|
DIN No.: |
03278824 |
|
|
|
|
Name : |
Mr. Venkatasubramanian Venkatachalam Nelepally |
|
Designation : |
Director and Manager |
|
Address : |
6D and E, KG Towers, 30 and 30A, 100 Feet Bypass Road, Velacherry,
Chennai - 600042, Tamilnadu, India |
|
Date of Birth/Age : |
24.08.1960 |
|
Qualification : |
BE
(MECH) |
|
Date of Appointment : |
19.06.2014 |
|
PAN No.: |
AADPV6183C |
|
DIN No.: |
06900806 |
KEY EXECUTIVES
|
Name : |
Mr. Vaidyanathan Subramanian |
|
Designation : |
Chief Finance Officer |
|
Address : |
Plot No:5-18/C2, Vivekananda Nagar Colony, Kukatpally, Hyderabad – 500072, Telangana, India |
|
Date of Appointment : |
09.07.2014 |
|
PAN No.: |
AABPV7899R |
|
|
|
|
Name : |
Mr. Venkatasubramanian Venkatachalam Nelepally |
|
Designation : |
Manager |
|
Address : |
6D and E, KG Towers, 30 and 30A, 100 Feet Bypass Road, Velacherry,
Chennai - 600042, Tamilnadu, India |
|
Date of Birth/Age : |
24.08.1960 |
|
Date of Appointment : |
01.07.2009 |
|
PAN No.: |
AADPV6183C |
|
|
|
|
Name : |
Mr. Vaidyanathan Subramanian |
|
Designation : |
Company Secretary |
|
Address : |
No 5, 33rd Street Thillai Ganda Nagar, Chennai – 600061, Tamilnadu, India |
|
Date of Appointment : |
16.10.2014 |
|
PAN No.: |
AABPV7899R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
1799994 |
|
Balasubramaniam Ramakrishnan jointly with Larsen and Toubro Limited |
|
1 |
|
Narayanaswamy Hariharan jointly with Larsen and Toubro Limited |
|
1 |
|
Pathik Rajmalbhai Kothari jointly with Larsen and Toubro Limited |
|
1 |
|
Subramanian Ramakrishnan Subramanian jointly with Larsen and Toubro Limited |
|
1 |
|
Raju Vishwanathan Iyer jointly with Larsen and Toubro Limited |
|
1 |
|
Prasad Vishnu Shanbhag jointly with Larsen and Toubro Limited |
|
1 |
|
Total |
|
1800000 |
Equity Share Break up (Percentage of Total Equity)
As on 13.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of Industrial Valves. (Registered activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
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 : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Parsn Manere, Block A-4 III Floor, 602 Anna Salai, Chennai – 600006, Tamilnadu, India |
|
Tel. No.: |
AAAFS2512D |
|
|
|
|
Secretarial audit
report: |
|
|
Name : |
Alwyn Jay and Company Chartered Accountants |
|
Address : |
Annex -103, Dimple Arcade, Asha Nagar Kandivli (East), Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AARFA8843J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
L99999MH1946PLC004768 |
|
|
|
|
Fellow Subsidiary
company : |
U29119MH1997PLC109700
U72900MH1996PLC104693
U66030MH2007PLC177117
U28920MH1952PLC008893
U29119MH2006PTC165102
U11200MH2009PLC191426
U72900MH2012PLC232169
U74999MH1962PLC012315
U74210MH1995PLC088099
U29253MH2010PTC210325 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
INR 100/- each |
INR 750.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
INR 100/- each |
INR 180.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
180.000 |
180.000 |
156.326 |
|
(b) Reserves and Surplus |
5026.388 |
3663.903 |
1834.100 |
|
(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) |
5206.388 |
3843.903 |
1990.426 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
286.604 |
141.143 |
39.358 |
|
(b) Deferred tax liabilities (Net) |
66.093 |
67.076 |
65.895 |
|
(c) Other long-term
liabilities |
54.600 |
49.548 |
69.699 |
|
(d) long-term
provisions |
151.611 |
164.537 |
68.387 |
|
Total Non-current
Liabilities (3) |
558.908 |
422.304 |
243.339 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
287.617 |
614.155 |
636.456 |
|
(b) Trade
payables |
3927.256 |
4140.524 |
3328.882 |
|
(c) Other
current liabilities |
2073.771 |
2011.978 |
2403.406 |
|
(d) Short-term
provisions |
544.218 |
353.754 |
616.062 |
|
Total Current Liabilities
(4) |
6832.862 |
7120.411 |
6984.806 |
|
|
|
|
|
|
TOTAL |
12598.158 |
11386.618 |
9218.571 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1216.340 |
1024.510 |
807.790 |
|
(ii)
Intangible Assets |
36.282 |
47.464 |
58.646 |
|
(iii) Tangible assets
capital work-in-progress |
82.585 |
5.598 |
6.899 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
47.719 |
32.141 |
27.989 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1382.926 |
1109.713 |
901.324 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3351.258 |
3533.985 |
2824.444 |
|
(c) Trade
receivables |
6705.891 |
5478.848 |
4675.723 |
|
(d) Cash and
bank balances |
9.091 |
10.187 |
0.950 |
|
(e) Short-term
loans and advances |
1148.808 |
1253.871 |
815.884 |
|
(f) Other
current assets |
0.184 |
0.014 |
0.246 |
|
Total
Current Assets |
11215.232 |
10276.905 |
8317.247 |
|
|
|
|
|
|
TOTAL |
12598.158 |
11386.618 |
9218.571 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
14653.153 |
13549.033 |
9127.099 |
|
|
Other Income |
285.981 |
405.237 |
245.242 |
|
|
TOTAL |
14939.134 |
13954.270 |
9372.341 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
9460.25 |
9202.203 |
6386.123 |
|
|
Purchases of
Stock-in-Trade |
44.144 |
25.248 |
9.847 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
346.324 |
(125.619) |
(599.806) |
|
|
Employees benefits
expense |
956.203 |
882.085 |
705.786 |
|
|
CSR expenditure |
18.900 |
6.116 |
0.000 |
|
|
Other expenses |
1796.505 |
1762.579 |
1376.466 |
|
|
TOTAL |
12622.326 |
11752.612 |
7878.416 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2316.808 |
2201.658 |
1493.925 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
69.916 |
85.624 |
10.36 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
2246.892 |
2116.034 |
1483.565 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
159.382 |
111.262 |
78.253 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2087.510 |
2004.772 |
1405.312 |
|
|
|
|
|
|
|
Less |
TAX |
708.419 |
619.916 |
434.122 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
1379.091 |
1384.856 |
971.190 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1866.645 |
492.281 |
377.219 |
|
|
|
|
|
|
|
Less |
Depreciation
charge against retained earnings net of deferred tax |
0.000 |
10.492 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
0.000 |
0.000 |
648.753 |
|
|
Dividend Tax |
0.000 |
0.000 |
110.256 |
|
|
General Reserve |
0.000 |
0.000 |
97.119 |
|
|
Total |
0.000 |
0.000 |
856.128 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
3245.736 |
1866.645 |
492.281 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
6623.864 |
4273.529 |
2488.194 |
|
|
TOTAL EARNINGS |
6623.864 |
4273.529 |
2488.194 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
415.089 |
633.910 |
1228.412 |
|
|
Components and Stores
parts |
1067.343 |
1161.540 |
353.298 |
|
|
Capital Goods |
148.564 |
160.600 |
10.342 |
|
|
TOTAL IMPORTS |
1630.996 |
1956.050 |
1592.052 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
766.16 |
769.36 |
539.55 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
26.667 |
31.982 |
0.000 |
|
Cash generated from operations |
1341.723 |
966.497 |
1430.822 |
|
Net cash flow from operating activity |
655.357 |
303.278 |
1048.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
167.04 |
147.60 |
186.99 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.19 |
2.47 |
1.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
150.82 |
163.78 |
189.97 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.69 |
0.62 |
0.53 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.74 |
2.04 |
1.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.57 |
0.64 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.12 |
0.20 |
0.34 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.31 |
1.85 |
3.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.26 |
0.28 |
0.44 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
33.14 |
25.71 |
144.20 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
9.41 |
10.22 |
10.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
10.95 |
12.16 |
10.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
26.49 |
36.03 |
48.79 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.64 |
1.44 |
1.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
1.15 |
0.95 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.41 |
0.34 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.34 |
4.37 |
4.32 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.64 |
1.44 |
1.19 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
156.326 |
180.000 |
180.000 |
|
Reserves & Surplus |
1834.100 |
3663.903 |
5026.388 |
|
Net
worth |
1990.426 |
3843.903 |
5206.388 |
|
|
|
|
|
|
Long Term borrowings |
39.358 |
141.143 |
286.604 |
|
Short Term borrowings |
636.456 |
614.155 |
287.617 |
|
Current Maturities of Long term debt |
0.000 |
31.982 |
26.667 |
|
Total
borrowings |
675.814 |
787.280 |
600.888 |
|
Debt/Equity
ratio |
0.340 |
0.205 |
0.115 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
9127.099 |
13549.033 |
14653.153 |
|
|
|
48.448 |
8.149 |
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
|
9127.099 |
13549.033 |
14653.153 |
|
Profit |
971.190 |
1384.856 |
1379.091 |
|
|
10.64% |
10.22% |
9.41% |
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 |
Yes |
|
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 |
|
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS/FINANCIAL
HIGHLIGHTS
CAPITAL AND FINANCE
The company has drawn down long term foreign currency loans in EUR 725000 equivalent to approximately INR 54.662 Million. During the year, the company repaid a part of its long term foreign currency loans EUR 476000 equivalent to about INR 31.982 Million
CAPITAL EXPENDITURE
As at March 31, 2016 the gross fixed and intangible assets including leased assets, stood at INR 2217.231 Million and the net fixed and intangible assets, including leased assets, at INR 1335.206 Million. Capital Expenditure during the year amounted to INR 423.932 Million.
STATE OF COMPANY
AFFAIRS
The gross sales and other income for the financial year were INR 14939.134 Million as against INR 13954.270 Million for the previous financial year registering an increase of 7%. The profit before tax from continuing operations including extraordinary and exceptional items was INR 2087.510 Million and the profit after tax from continuing operations including extraordinary and exceptional items of INR 1379.091 Million for the financial year as against INR 2004.772 Million and INR 1384.856 Million respectively for the previous financial year, registering an increase of 4 % in PBT and 0.5% decrease in PAT.
UNSECURED LOAN
|
UNSECURED LOAN |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Foreign currency term loans from banks |
163.271 |
61.143 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Term loans from banks |
0.000 |
44.142 |
|
Inter-corporate borrowings |
0.000 |
150.000 |
|
Total |
163.271 |
255.285 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G01817303 |
100020959 |
HDFC BANK LIMITED |
16/12/2015 |
- |
- |
150000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL WEST, MUMBAIMUMBAIMH400013IN |
|
2 |
C57375073 |
10558931 |
The Hongkong and Shanghai Banking Corporation Limited |
16/03/2015 |
23/06/2015 |
- |
150000000.0 |
No 30Rajaji SalaiChennaiTN600001IN |
|
3 |
G04230504 |
10092831 |
BANK OF BARODA |
07/12/2007 |
09/05/2016 |
- |
8400000000.0 |
BANK OF BARODAMOUNT ROAD BRANCH NO. 1, CLUB HOUSE ROADCHENNAITN600002IN |
|
4 |
B56774979 |
90162846 |
EXPORT-IMPORT BANK OF INDIA |
14/01/1994 |
21/11/1994 |
22/08/2012 |
60000000.0 |
CENTRE ONE; WORLD TRADE CENTRECUFFE PARADEBOMBAYMH400005IN |
|
5 |
B43213875 |
90162087 |
STATE INDUSTRIES PROMOTION CORPORRATION OF TAMIL NADU LTD |
12/08/1987 |
18/08/1987 |
22/06/2012 |
2530000.0 |
NO. 51 & 52; GREAMS ROADTHOUSAND LIGHTSMADRASTN600006IN |
|
6 |
B20944807 |
90162167 |
ANZ GRINDLAYS BANK PLC |
10/06/1988 |
14/02/1996 |
19/09/2011 |
2500000.0 |
19; RAJAJI SALAIMADRASMH600001IN |
|
7 |
B20851606 |
90163454 |
ANZ SINGAPORE LIMITED |
21/11/1996 |
- |
19/09/2011 |
2000000.0 |
10 COLLYER ROAD17-02/05; OCEAN BUILDINGSINGAPOREGAIN |
|
8 |
B20852687 |
90163318 |
ANZ GRINDLAYS BANK |
09/02/1996 |
- |
19/09/2011 |
39000000.0 |
PLC 19; RAJAJI SALAIMADRASMH600001IN |
|
9 |
B21370374 |
80045576 |
ABN-AMRO BANK NV |
07/03/2005 |
- |
19/09/2011 |
131070000.0 |
63 CHULIA STREETLEVEL 13SINGAPORENA049514SG |
|
10 |
B20695334 |
90163501 |
BANK OF BARODA |
18/03/1997 |
- |
09/09/2011 |
41500000.0 |
1; CLUB HOUSE ROADCHANNAITN600002IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
3.497 |
3.497 |
|
Other money for which company is contingently liable |
29.594 |
56.430 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
NO |
|
--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.