MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

495228

Report Date :

03.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SPML INFRA LIMITED                                 

 

 

Registered Office :

F-27/2, Okhla Industrial Area, Phase - II, New Delhi - 110020

Tel. No.:

91-11-26387091

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

27.08.1981

 

 

Com. Reg. No.:

55-012228

 

 

Capital Investment / Paid-up Capital :

INR 81.945 Million

 

 

CIN No.:

[Company Identification No.]

L40106DL1981PLC012228

 

 

IEC No.:

Not Divulged

 

 

CST No.:

08771601308

 

 

GSTIN :

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges

 

 

Line of Business :

The Company is engaged in the business of infrastructure development which inter-alia includes water management, water infrastructure development, waste water treatment, power generation, transmission and distribution, solid waste management, and other civil infrastructures. [Registered Activity]

 

 

No. of Employees :

841 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1981. It is engaged in the business of infrastructure Development which includes Water Management, Water Infrastructure Development, Transmission and Power Generation.

 

For the financial year 2017, the revenue of the company has increased by 14.49% but has reported low profit margin of 0.89%.

 

Rating takes into consideration healthy financial position of the company marked by its strong networth base with comfortable debt level.

 

The company has its share prices trading at around INR 135.05 against the Face Value (FV) of 02 on BSE as on October 28, 2018.

 

Rating also derives strength from company’s established track record of business.

 

Business is active. Payments are reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

BRICKWORK

Rating

Long Term Bank Loan = BB+

Rating Explanation

Moderate risk of default.

Date

22.04.2016

 

Rating Agency Name

BRICKWORK

Rating

Short Term Bank Loan = A4+ 

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

22.04.2016

 

 

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 31.10.2017.

 

 

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 03.03.2018.

 

 

INFORMATION DENIED

 

Management Non-Cooperative (Tel. No.: 91-124-3838300 / 91-11-26387091)

 

 

LOCATIONS

 

Registered Office :

F-27/2, Okhla Industrial Area, Phase - II, New Delhi – 110020, India

Tel. No.:

91-11-26387091 

Fax No.:

91-11-26386003

E-Mail :

info@spml.co.in

abhaysingh@spml.co.in

Website :

http://www.spml.co.in

 

 

Head Office/ Corporate Office :

SPML House, Plot No. 65, Sector-32, Institutional Area, Gurugram – 122001, Haryana, India

Tel. No.:

91-124-3944555

Fax No.:

91-124-3983201

 

 

Regional Offices 1:

8/2, Ulsoor Road, Bangalore-560042, Karnataka, India

Tel. No.:

91-80-39445555

Fax No.:

91-80-40956701

 

 

Regional Offices 2:

22, Camac Street, Block-A, 3rd Floor, Kolkata – 700016, West Bengal, India

Tel. No.:

91-33-40091200

Fax No.:

91-33-40091303

 

 

Regional Offices 3:

129, Shankar Colony, Vidhyadhar Nagar, Jaipur-302017, Rajasthan, India

 

 

Regional Office 4 :

B wing (South Block), 5th floor, Cristu Complex, No-41/7, Lavelle Road, Bangalore – 560001, Karnataka, India

Tel. No.:

91-80-39445555

Fax No.:

91-80-40956701

 

 

Regional Offices :

Also located at:

 

  • Patna
  • Kolkat
  • Bangalore
  • Chennai
  • Mumbai
  • Guwahati
  • Ahmedabad
  • Jaipur

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Deepak Sethi

Designation :

Director

Address :

Villa No. B-9, Yemalur Home Owner Association Epsilon Ventures, Yemalur Main Road, Bangalore – 560037, Karnataka, India

Date of Appointment :

01.07.2003

DIN No.:

00035756

 

 

Name :

Mr. Sushil Kumar Sethi

Designation :

Managing Director

Address :

M-231 Greater Kailash, Part – II, New Delhi – 110048, India

Date of Appointment :

27.08.1981

DIN No.:

00062927

 

 

Name :

Mr. Prem Singh Rana

Designation :

Director

Address :

B - 501, Karam Hi Dharam Apartments, Sector – 55, Gurugram – 122001, Haryana, India

Date of Appointment :

10.02.2014

DIN No.:

00129300

 

 

Name :

Mr. Sushil Kumar Roongta

Designation :

Additional Director

Address :

D - 91, DLF Pinnacle, DLF Phase - V, Opposite DLF Golf Course, Gurugram – 122009, Haryana, India

Date of Appointment :

07.11.2015

DIN No.:

00309302

 

 

Name :

Mr. Subhash Chand Sethi

Designation :

Whole time Director

Address :

8, Moira Street, 2nd Floor, Kolkata- 700017, West Bengal, India

Date of Appointment :

01.06.1984

DIN No.:

00464390

 

 

Name :

Ms. Archana Capoor

Designation :

Director

Address :

C-221, Sfs,Sheikh Sarai, Phase I, New Delhi – 110017, India

Date of Appointment :

26.09.2014

DIN No.:

01204170

 

 

Name :

Mr. Dinesh Kumar Goyal

Designation :

Director

Address :

Flat No. 401, Landmark B-196, Bapu Nagar, University Marg, Jaipur – 302015, Rajasthan, India

Date of Appointment :

31.08.2015

DIN No.:

02576453

 

 

Name :

Mr. Sarthak Behuria

Designation :

Director

Address :

K-99, Hauz Khas, New Delhi – 110016, India

Date of Appointment :

12.08.2010

DIN No.:

03290288

 

 

Name :

Mrs. Supriyo Kumar Chaudhuri

Designation :

Nominee Director

Address :

Flat 4C, Kinellan Tower, 100A, Nepean Sea Road, Mumbai – 400006, Maharashtra, India

Date of Appointment :

10.02.2017

DIN No.:

06915387

 

 

KEY EXECUTIVES

 

Name :

Mr. Sujit Jhunjhunwala

Designation :

Chief Finance Officer

Address :

P-135, Bangur Avenue Block-B, Kolkata – 700055, West Bengal, India

Date of Appointment :

19.05.2017

PAN No.:

ACVPJ0737C

 

 

Name :

Mr. Abhay Raj Singh

Designation :

Company Secretary

Address :

971 Sector-39, Gurugram – 122001, Haryana, India

Date of Appointment :

02.12.2013

PAN No.:

ASFPS9789M

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.12.2017

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2)

(A) Promoter & Promoter Group

1,40,01,260

38.20

 

(B) Public

2,26,49,016

61.80

 

Grand Total

3,66,50,276

100.00

 

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2)

A1) Indian

0.00

 

Individuals/Hindu undivided Family

65,65,240

17.91

 

Abhinandan Sethi

0.00

 

Anil Kumar Sethi (HUF)

3,34,735

0.91

 

Anil Kumar Sethi

17,75,780

4.85

 

Deepak Sethi

5,82,250

1.59

 

Harshvardhan Sethi

0.00

 

Maina Devi Sethi

0.00

 

Priti Devi Sethi

0.00

 

Punam Chand Sethi

3,72,735

1.02

 

Punam Chand Sethi (HUF)

4,94,625

1.35

 

Rishab Sethi

0.00

 

Sandhya Rani Sethi

0.00

 

Shilpa Sethi

1,81,515

0.50

 

Subhash Chand Sethi (HUF)

0.00

 

Subhash Chand Sethi

15,23,280

4.16

 

Suman Sethi

1,83,735

0.50

 

Sushil Kumar Sethi

10,56,985

2.88

 

Vineeta Sethi

59,600

0.16

 

Sushil Kumar Sethi (HUF)

0.00

 

Any Other (specify)

74,36,020

20.29

 

Zoom Industrial Services Limited

25,00,000

6.82

 

SPML India Ltd.

21,19,055

5.78

 

20th Century Engineering Limited

10,00,000

2.73

 

Bharat Hydro Power Corporation Limited

0.00

 

SPM Engineers Limited

5,00,000

1.36

 

International Constructions Limited

8,80,945

2.40

 

Arihant Leasing & Holding Limited

4,36,020

1.19

 

Sonal Agencies Private Limited

0.00

 

Rishab Commercials Private Limited

0.00

 

Abhinandan Enterprises Private. Limited

0.00

 

Sub Total A1

1,40,01,260

38.20

 

A2) Foreign

0.00

 

A=A1+A2

1,40,01,260

38.20

 

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a % of (A+B+C2)

B1) Institutions

0.00

 

Mutual Funds/

13,000

0.04

 

Foreign Portfolio Investors

2,14,178

0.58

 

Financial Institutions/ Banks

78,92,525

21.53

 

State Bank of India

28,49,006

7.77

 

Canara Bank-Mumbai

17,51,336

4.78

 

ICICI Bank Limited

11,78,256

3.21

 

Syndicate Bank

5,55,797

1.52

 

Punjab National Bank

4,95,854

1.35

 

Sub Total B1

81,19,703

22.15

 

B2) Central Government/ State Government(s)/ President of India

0.00

 

B3) Non-Institutions

0.00

 

Individual share capital upto INR 0.200 Million

24,73,027

6.75

 

Individual share capital in excess of INR 0.200 Million

4,75,441

1.30

 

Anirudh Damani

4,08,569

1.11

 

NBFCs registered with RBI

1,234

0.00

 

Any Other (specify)

1,15,79,611

31.59

 

Bodies Corporate

54,45,660

14.86

 

Udgam Commercial Limited

17,06,906

4.66

 

Mayank Securities Private Limited

9,51,490

2.60

 

Technomechanical Services Limited

7,29,232

1.99

 

Investor Education and Protection Fund Authority

1,00,848

0.28

 

Clearing Members

5,06,551

1.38

 

NRI

32,676

0.09

 

Overseas corporate bodies

54,93,876

14.99

 

Client Rosehill Limited

35,21,575

9.61

 

CVCIGP II Employee Rosehill Limited

19,72,301

5.38

 

Sub Total B3

1,45,29,313

39.64

 

B=B1+B2+B3

2,26,49,016

61.80

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in the business of infrastructure development which inter-alia includes water management, water infrastructure development, waste water treatment, power generation, transmission and distribution, solid waste management, and other civil infrastructures. [Registered Activity]

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

841 (Approximately)

 

 

Bankers :
  • Andhra Bank
  • Bank of Baroda
  • Canara Bank
  • ICICI Bank Limited
  • Oriental Bank of Commerce
  • Punjab National Bank
  • State Bank of India
  • Syndicate Bank
  • Union Bank of India
  • Yes Bank Limited

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Term loan from Bank

538.325

195.000

From Financial Institution

246.632

330.842

Deferred payments credit from bank

0.694

1.744

Deferred payments From others

2.683

3.477

 

 

 

SHORT TERM BORROWING

 

 

Cash Credit and demand loan facilities from bank

6681.882

4655.016

 

 

 

Total

7470.216

5186.079

 

LONG TERM BORROWINGS

 

Security and repayment terms in respect of term loans from banks

 

  1. Term loan of INR Nil (INR 31.250 Million) carries interest @ 12.75 % p.a. (I -Base plus spread @ 2.5% p.a.). The said loan is secured against a subservient charge on all the fixed assets and current assets (both present and future) of the Company and also by the personal guarantee of a promoter directors of the Company.

 

  1. Term loan of INR 93.750 Million (INR 168.750 Million) carries interest @ 13.00 % p.a. (I - Base plus spread @ 3.75% p.a.) and is repayable in five quarterly instalments of INR 18.750 Million each along with interest thereon by March 2018. The said loan is secured against an exclusive charge over the Company’s property located at Gurgaon.

 

  1. Term loan of INR 50.780 Million (1,600 lakhs) carries interest @ 11.75 % p.a. (I - Base plus spread @ 2.05% p.a.) and is repayable in 12 quarterly instalments of INR 12.000 Million each along with interest thereon by February 2020. Prepayment of loan has been made to the extent principal amount of INR 93.220 Million which resulted into reduction of loan. The said loan is secured against an exclusive charge over the Company’s office property located at Bengaluru and Subservient charge on all movable fixed assets and current assets (both present and future) of the Company. Further, loan is backed by the personal guarantee of the Managing director of the Company and pledge of shares of the Company by the promoters.

 

  1. As at the year ended March 31, 2017, the Company has defaulted in repayment of principal amount of loan and interest upto 90 days amounting to INR 23.950 Million (INR 51.919 Million) and INR 12.619 (INR 15.446 Million), respectively; the default for more than 90 days amounted to INR 0.614 Million (INR 0.704 Million) to banks and financial institutions.

 

Security and repayment terms in respect of term loans from financial Institutions

 

Loan of INR 330.606 Million (3,940 lakhs) taken from a financial institution carries interest @ 13.55% p.a. and is repayable in sixteen equated quarterly instalments by January 2021. The said loan is secured against an exclusive charge over the free hold property located at Faridabad, owned by SPML Industries limited and corporate guarantee provided by SPML Industries limited.

The said loan is also secured against an exclusive charge over company’s landed property situated at village - Bucholai, tehsil - Gangapur, dist- Sawaimadhopur, Rajasthan. Further, loan is backed by the personal guarantee provided by the Chairman and by the Managing director of the Company and pledge of shares of the company by the promoters

 

Deferred payment credits from banks and others are secured against hypothecation of vehicles / construction equipments purchased against such loans and are repayable in equated monthly instalments (ranging from 8 to 32) carrying interest rates ranging from 9.60% to 11.46% p.a

 

Loan from related parties carries interest @ 12.00% and is repayable after 5 years from the date of their receipts.

 

Loan from body corporates is repayable after 5 years from the date of their receipts

 

SHORT TERM BORROWINGS

 

Demand loans and cash credit and working capital facilities in Indian rupees are secured by hypothecation of stocks and book debts of the Company, both present and future, hypothecation of certain specific plant and machinery, furniture/fixtures and office equipment and also the lien on fixed deposit of INR 3.800 Million in favour of lead banker as a pari-passu charge with other consortium bankers. These loans are additionally secured by the guarantees of three promoter directors of the Company and corporate guarantee of SPM engineers Limited (related party). The demand loans and cash credit and working capital facilities carry interest @ 12.65% to 16.25% p.a.

 

Loan from related parties is repayable on demand and carry interest @ Nil to 14.5%.

 

Loans from bodies corporate carry interest @ 12% p.a to 18% p.a.

 

Auditors :

 

Name :

Sunil Kumar Gupta and Company

Chartered Accountants

Address :

B10, Magnum House I, Karampura Commercial Complex, New Delhi – 110015, India

Tel. No.:

91-11-33512747 / 30021829 / 30021696

Mobile No.:

91-9953999077

E-Mail :

skgcaisa82@yahoo.co.in

caskg82@gmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary Company :
  • Subhash Kabini Power Corporation Limited
  • SPML energy Limited
  • SPML Infrastructure Limited
  • SPM Holding Pte. Limited
  • Binwa Power Corporation Private Limited
  • Awa Power Company Private Limited
  • IQU Power Company Private Limited
  • Neogal Power Company Private Limited
  • Luni Power Company Private Limited
  • Tons Valley Power Company Private Limited
  • Rupin tons Power Company Private Limited
  • Uttarkashi tons Hydro Power Private Limited
  • Delhi Waste Management Limited
  • Add Urban enviro Limited
  • Add energy Management Company Private Limited
  • Madurai Municipal Waste Processing Company Private. Limited
  • SPML Utilities Limited
  • Allahabad Waste Processing Company Limited
  • Mathura Nagar Waste Processing Company Limited
  • Mizoram Power development Corporation Limited**
  • Bhilwara Jaipur toll Road Private Limited
  • Pt Sanmati Natural Resources
  • Mizoram Infrastructure development Company Limited
  • SPML Infraprojects Limited
  • SPML Infra developers Limited
  • Bhagalpur electricity distribution Com P Limited
  • Doon Valley Waste Management Private Limited
  • Jamshedpur Waste Processing Company Private Limited
  • SJA developers Private Limited
  • Subhash Urja Private Limited
  • Synergy Promoters Private Limited

 

 

Associates :
  • Hydro Comp enterprises (India) Limited
  • Mizoram Mineral development Corporation Limited **
  • SPML Bhiwandi Water Supply Infra Limited
  • SPML Bhiwandi Water Supply Management Limited
  • Aurangabad Jal Supply Solution Private Limited
  • Aurangabad City Water Utility Company Limited

 

 

Joint Ventures :
  • SPML-CISC JV
  • SPML - Simplex JV
  • SPML-HCIL JV
  • OM Metals Consortium JV
  • Siddharth- Mahaveer SPML –JV
  • KBL-SPML JV
  • SPML - OM Metals JV
  • Malviya Nagar Water Services Private Limited
  • MVV Water Utility Private Limited
  • Gurha thermal Power Company Limited
  • M&P+Subhash JV
  • SPML-SeW-AMR Joint Venture
  • SMS-SPML JV
  • SUeZ -SPML JV
  • MeIL-SPML (JV)

 

 

Enterprises owned by KMP’s or their relatives or whether the KMP’s have significantly influence :
  • Arihant Leasing and Holding Company Limited
  • Rishabh Homes Private Limited
  • Subhash Systems Private Limited
  • International Construction Limited
  • SPM engineers Limited
  • Zoom Industrial Services Limited
  • Meena Homes Limited
  • 20th Century engineering Limited
  • SPML India Limited
  • Add Realty Limited #
  • Sanmati Power Company Private Limited
  • Add eco enviro Limited
  • Meena Holdings Limited
  • Add technologies (India) Limited
  • Sushil Kumar Sethi and Sons (HUF)
  • Pondicherry Special economic Zone Company Limited
  • Bharat Hydro Power Corporation
  • Om Metal-SPML Infra Project Private Limited
  • Peacock Pearl Business Solution Private Limited
  • Sethi Infratech Private Limited
  • Niral enterprises Private Limited
  • SPML Industries Limited

 

# Ceased to be associates w.e.f. March 31, 2016

**Company strike off w.e.f. Feb 22, 2017

***Resigned on Oct 6, 2016

           

 

CAPITAL STRUCTURE

 

AFTER ON 31.03.2017

 

Authorised Capital : INR 500.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 73.301 Million

 

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000000

Equity Shares

INR 2/- each

INR 400.000 Million

1000000

Preference Share

INR 100/- each

INR 100.000 Million

 

Total

 

INR 500.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

36650276

Equity Shares

INR 2/- each

INR 73.301 Million

 

Add: Forfeited shares

 

INR 8.644 Million

 

Total

 

INR 81.945 Million

 

a. Reconciliation of the equity shares outstanding at the beginning and at the end of the year

 

Particulars

31.03.2017

No. of Shares

INR In Million

Balance at the beginning and end of the year

36650276

73.301

 

b. Terms/ rights attached to equity shares

 

The Company has only one class of equity shares having par value of INR 2 per share (previous year INR 2 per share). Each holder of equity shares is entitled one vote per share. The Company declares and pays dividends in Indian Rupees.

 

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders

 

c. details of shareholders holding more than 5% equity shares of the Company

 

Name of Shareholders

31.03.2017

No. of Shares

% of holding

Client Rosehill Limited

3521575

9.61

Zoom Industrial Services Limited

3073510

8.39

SPML India Limited

2335735

6.37

Udgam Commercial Limited

1889236

5.15

CVCIGP II Employee Rosehill Limited

1972301

5.38

Anil Kumar Sethi

1902835

5.19

 

d.No bonus shares or shares issued for consideration other than cash or shares bought back over the last five years immediately preceeding the reporting date.

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

81.945

81.945

81.945

(b) Reserves & Surplus

4840.978

4697.340

4566.750

(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)

4922.923

4779.285

4648.695

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1817.791

1213.022

683.557

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

1577.650

1404.253

932.754

(d) long-term provisions

40.395

38.420

35.581

Total Non-current Liabilities (3)

3435.836

2655.695

1651.892

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

7386.060

5616.169

5213.478

(b) Trade payables

6085.573

7007.465

6194.700

(c) Other current liabilities

1839.302

1888.791

3643.027

(d) Short-term provisions

22.271

23.840

23.056

Total Current Liabilities (4)

15333.206

14536.265

15074.261

 

 

 

 

TOTAL

23691.965

21971.245

21374.848

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

446.025

583.719

678.398

(ii) Intangible Assets

2.302

2.622

3.143

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

2514.213

2514.271

2348.602

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1065.928

953.195

995.865

Trade receivable

2285.603

1765.012

2196.085

(e) Other Non-current assets

1740.388

1036.750

1405.656

Total Non-Current Assets

8054.459

6855.569

7627.749

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

400.921

398.430

356.086

(c) Trade receivables

5757.436

6182.090

5761.946

(d) Cash and cash equivalents

1087.525

907.842

885.308

(e) Short-term loans and advances

1596.919

1771.162

1465.494

(f) Other current assets

6794.705

5856.152

5278.265

Total Current Assets

15637.506

15115.676

13747.099

 

 

 

 

TOTAL

23691.965

21971.245

21374.848

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

 

Income

16111.071

14072.065

13769.801

 

 

Other Income

1241.266

519.854

686.006

 

 

TOTAL                                    

17352.337

14591.919

14455.807

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

7038.446

9902.776

11250.377

 

 

Cost of Traded Goods

6520.011

1365.365

0.000

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

-4.940

27.507

27.102

 

 

Employees benefits expense

517.394

530.904

499.531

 

 

Other expenses

940.696

609.851

653.743

 

 

TOTAL                                               

15011.607

12436.403

12430.753

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

2340.730

2155.516

2025.054

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

2054.693

1869.952

1721.161

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

286.037

285.564

303.893

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

103.446

119.533

130.306

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX 

182.591

166.031

173.587

 

 

 

 

 

Less

TAX                                                                 

38.953

35.441

35.742

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

143.638

130.590

137.845

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

2489.482

2358.892

2242.275

 

 

 

 

 

Add

ADJUSTMENT IN DEPRECIATION IN ACCORDANCE WITH SCHEDULE II TO THE COMPANIES ACT, 2013

NA

NA

(21.228)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

2633.120

2489.482

2358.892

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

161.881

63.339

267.023

 

TOTAL IMPORTS

161.881

63.339

267.023

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

3.92

3.56

3.76

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

974.569

712.181

316.476

Cash generated from operations

(552.490)

2629.096

1737.715

Net cash flows from (used in) operations

(626.161)

2546.170

1476.804

 

 

QUARTERLY RESULTS

 

Particulars

 

 

 

30.06.2017

(Unaudited)

 

 

 

 

Net sales

 

 

3196.010

Total Expenditure

 

 

2728.160

PBIDT (Excluding Other Income)

 

 

467.850

Other income

 

 

178.730

Operating Profit

 

 

646.580

Interest

 

 

544.520

Exceptional Items

 

 

NA

PBDT

 

 

102.060

Depreciation

 

 

19.320

Profit Before Tax

 

 

82.750

Tax

 

 

12.570

Provisions and contingencies

 

 

NA

Profit after tax

 

 

70.180

Extraordinary Items

 

 

NA

Prior Period Expenses

 

 

NA

Other Adjustments

 

 

NA

Net Profit

 

 

70.180

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

130.44

160.35

152.73

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.80

2.28

2.39

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

315.59

258.28

200.98

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

5.84

5.41

5.69

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

5.22

3.68

2.97

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.72

0.72

0.74

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.87

1.43

1.27

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

3.11

3.04

3.24

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.09

0.12

0.15

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.14

1.15

1.18

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.89

0.93

1.00

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.61

0.59

0.64

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

2.92

2.73

2.97

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.02

1.04

0.91

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.99

1.01

0.89

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.21

0.22

0.22

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

112.32

83.34

71.96

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.02

1.04

0.91

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 2.00/-

Market Value

INR 111.50/-

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

81.945

81.945

81.945

Reserves & Surplus

4566.750

4697.340

4840.978

Net worth

4648.695

4779.285

4922.923

 

 

 

 

long-term borrowings

683.557

1213.022

1817.791

Short term borrowings

5213.478

5616.169

7386.060

Current Maturities of Long term debt

316.476

712.181

974.569

Total borrowings

6213.511

7541.372

10178.420

Debt/Equity ratio

1.337

1.578

2.068

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

13769.801

14072.065

16111.071

 

 

2.195

14.490

 

 

 

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

13769.801

14072.065

16111.071

Profit

137.845

130.590

143.638

 

1.00%

0.93%

0.89%

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

81.945

81.945

(b) Reserves & Surplus

 

4492.881

4599.879

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

1336.941

1095.406

Total Shareholders’ Funds (1) + (2)

 

5911.767

5777.230

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

5096.640

5023.208

(b) Deferred tax liabilities (Net)

 

5.046

11.022

(c) Other long term liabilities

 

1838.653

1661.629

(d) long-term provisions

 

64.341

63.389

Total Non-current Liabilities (3)

 

7004.680

6759.248

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

8979.327

6321.272

(b) Trade payables

 

9676.030

11273.368

(c) Other current liabilities

 

2709.965

2339.543

(d) Short-term provisions

 

59.484

74.990

Total Current Liabilities (4)

 

21424.806

20009.173

 

 

 

 

TOTAL

 

34341.253

32545.651

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

2364.282

2472.069

(ii) Intangible Assets

 

4092.948

3961.768

(iii) Capital work-in-progress

 

779.516

955.236

(iv) Intangible assets under development

 

1525.994

1423.686

(b) Non-current Investments

 

64.727

13.389

(c) Deferred tax assets (net)

 

1597.298

1385.422

(d)  Long-term Loan and Advances

 

2334.024

1767.778

(e) Other Non-current assets

 

2256.998

1360.677

Total Non-Current Assets

 

15015.787

13340.025

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

723.028

751.210

(c) Trade receivables

 

8739.534

9270.768

(d) Cash and cash equivalents

 

1577.343

1401.087

(e) Short-term loans and advances

 

1293.989

1709.687

(f) Other current assets

 

6991.572

6072.874

Total Current Assets

 

19325.466

19205.626

 

 

 

 

TOTAL

 

34341.253

32545.651

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

22196.149

20353.926

 

Other Income

 

1826.806

585.626

 

TOTAL

 

24022.955

20939.552

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

9560.800

4790.241

 

Material Consumed and Direct Expenses

 

9055.400

11757.052

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

6.100

23.853

 

Employees benefits expense

 

851.500

767.634

 

Other expenses

 

1303.900

1038.896

 

TOTAL

 

20777.700

18377.676

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

3245.255

2561.876

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

2903.065

2251.798

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

342.190

310.078

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

257.638

268.151

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

84.552

41.927

 

 

 

 

 

Less

TAX (H)

 

13.627

115.239

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

 

70.925

(73.312)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

2.00

(1.63)

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

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

 

 

UNSECURED LOANS:

(INR In Million)

Particulars

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Term loan from related parties

959.457

681.959

Term loan from body corporate

70.000

0.000

 

 

 

SHORT TERM BORROWING

 

 

From related parties

169.556

301.337

From bodies corporate

534.622

659.816

 

 

 

Total

1733.635

1643.112

 

 

 

 

 

INDEX OF CHARGE:

 

Charges Registered

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G13932363

100048698

Canara Bank

19/07/2016

09/09/2016

-

786900000.0

Prime Corporate BranchBells House 21 Camac Street Ground FloorKolkataWB700016IN

2

C62983127

10588873

ICICI BANK LIMITED

28/08/2015

-

-

200000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

3

C62193594

10587053

ICICI BANK LIMITED

21/08/2015

-

-

1000000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

4

C49056716

10559272

IFCI LIMITED

31/03/2015

-

-

400000000.0

IFCI Tower 61, Nehru Place,New DelhiNew DelhiDL110019IN

5

C46963716

10555572

ICICI BANK LIMITED

12/03/2015

-

-

120000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

6

C45538873

10552925

YES BANK LIMITED

18/02/2015

-

-

300000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

7

B76913102

10427239

UCO BANK

15/05/2013

11/06/2013

-

1015000000.0

SINGAPORE BRANCH3, RAFFLES PLACE, BHARAT BUILDINGSINGAPORENA048617SG

8

B64176662

10269999

YES BANK LIMITED

23/02/2011

20/11/2012

-

540000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

9

B96795281

10236056

ICICI BANK LIMITED

26/08/2010

21/02/2014

-

950000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

10

A81629982

10208395

SREI Equipment Finance Private Limited

22/03/2010

-

-

3959772.0

'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWB700046IN

11

A79862165

10204484

SREI Equipment Finance Private Limited

22/02/2010

-

-

13203179.0

'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATAWB700046IN

12

A56565195

10141706

INDUSIND BANK LTD.

21/01/2009

-

-

150000000.0

GOPAL DAS BHAWAN,28,BARAKHAMBA ROADNEW DELHINEW DELHIDL110001IN

13

G12194023

10132471

Canara Bank

14/11/2008

08/08/2016

-

26555600000.0

Prime Corporate BranchBells House 21 Camac Street Ground FloorKolkataWB700016IN

14

A11064250

10045004

State Bank of Bikaner and Jaipur

03/01/2007

-

-

615000000.0

Industrial EstateKotaRJ324007IN

15

C58866542

10149152

YES BANK LIMITED

05/03/2009

25/03/2009

13/07/2015

490000000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

16

C53112876

10443239

UNION BANK OF INDIA

05/08/2013

-

16/04/2015

300000000.0

Industrial Finance Branch1/1, Camac Street, 1st FloorKolkataWB700016IN

17

C49319528

10025915

INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED

28/11/2006

-

13/03/2015

770000000.0

IDBI TOWERWTC COMPLEXCUFFE PARADEMUMBAIMH400005IN

18

C49605181

80000651

BANK OF BARODA

12/05/2005

29/04/2011

13/03/2015

1375000000.0

CAMAC STREET BRANCH3B CAMAC STRRETKOLKATAWB700016IN

19

C46966305

10079333

KOTAK MAHINDRA BANK LIMITED

13/09/2007

-

13/03/2015

22115000.0

36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN

20

C49606536

10129924

BANK OF BARODA

03/11/2008

-

13/03/2015

50000000.0

CAMAC STREET BRANCH3B CAMAC STRRETKOLKATAWB700016IN

21

C46969192

10127902

KOTAK MAHINDRA BANK LIMITED

01/10/2008

-

13/03/2015

3717877.0

36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN

22

C38425765

10065144

KOTAK MAHINDRA BANK LIMITED

09/08/2007

-

22/12/2014

20709491.0

36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT,MUMBAIMH400021IN

23

C16664633

10119396

ANDHRA BANK

08/08/2008

-

19/08/2014

10000000.0

CHOWRINGHEE BRANCH58, CHOWRINGHEE ROADKOLKATAWB700016IN

24

C16661753

10097761

ANDHRA BANK

31/03/2008

27/01/2011

19/08/2014

927500000.0

CHOWRINGHEE BRANCH58, CHOWRINGHEE BRANCHKOLKATAWB700071IN

25

C13592860

10070446

ABN AMRO BANK NV

25/09/2007

-

22/07/2014

6414000.0

11TH FLOOR, TOWER C, CYBER GREENSDLF CYBER CITY , SECTOR 25AGURGAONHR122002IN

26

C13589395

10070444

ABN AMRO BANK NV

25/09/2007

-

22/07/2014

4787000.0

11TH FLOOR, TOWER C, CYBER GREENSDLF CYBER CITY , SECTOR 25AGURGAONHR122002IN

27

C13597083

10070459

ABN AMRO BANK NV

25/09/2007

-

22/07/2014

10635000.0

11TH FLOOR, TOWER C, CYBER GREENSDLF CYBER CITY , SECTOR 25AGURGAONHR122002IN

28

C14515217

80023570

ORIENTAL BANK OF COMMERCE

03/12/2005

11/01/2010

21/07/2014

795000000.0

Overseas Branch, (Lord's Building)7/1, Lord Sinha Road, (Ground Floor),KolkataWB700071IN

29

C07528482

10053314

CENTURION BANK OF PUNJAB LIMITED

16/01/2007

-

03/06/2014

3156000.0

DURGA NIWASM G ROADPANAJIGOAGA403001IN

30

C07534712

10078791

CENTURION BANK OF PUNJAB LIMITED

30/09/2007

-

03/06/2014

1657000.0

DURGA NIWASM G ROADPANAJIGOAGA403001IN

31

C07532971

10078790

CENTURION BANK OF PUNJAB LIMITED

30/09/2007

-

03/06/2014

1041000.0

DURGA NIWASM G ROADPANAJIGOAGA403001IN

32

C04631511

10487584

State Bank of India

11/05/2011

-

24/05/2014

5088000000.0

CAG Branch, Reliance House34, Jawaharlal Nehru RoadKolkataWB700071IN

33

C04174488

10434505

CANARA BANK

21/06/2013

-

22/05/2014

5850000000.0

PRIME CORPORATE BRANCHBELLS HOUSE, GROUND FLOOR, 21 CAMAC STREETKOLKATAWB700016IN

34

B74484601

10077339

ABN AMRO BANK NV

13/10/2007

-

11/04/2013

1531327.0

11TH FLOOR, TOWER C, CYBER GREENSDLF CYBER CITY , SECTOR 25AGURGAONHR122002IN

35

B73189052

10147773

CANARA BANK

27/02/2009

24/12/2010

28/03/2013

6187500000.0

PRIME CORPORATE BRANCHBELLS HOUSE, 21 CAMAC STREET, GROUND FLOORKOLKATAWB700016IN

36

B64483217

10074693

STATE BANK OF HYDERABAD

12/10/2007

-

10/12/2012

90000000.0

PARK STREET BRANCH113 PARK STREET, PODDAR POINTKOLKATAWB700016IN

37

B64061567

10152680

STATE BANK OF PATIALA

21/03/2007

-

06/12/2012

145000000.0

COMMERCIAL BRANCH,CHANDRALOK BUILDING, JANPATHNEW DELHIDL110001IN

38

B62208467

10139903

Allahabad Bank

31/12/2008

-

20/11/2012

550000000.0

Industrial Finance Branch, N 603, Manipal Centre#47, Dickenson RoadBangaloreKA560042IN

39

B63350979

10038668

Punjab National Bank

20/02/2007

24/03/2008

19/11/2012

1980000000.0

Cantonment Branch,Commercial Street, BangaloreBangaloreKA560042IN

40

B63351498

10203589

PUNJAB NATIONAL BANK

04/02/2010

-

19/11/2012

2385000000.0

BANGALORE CANTONMENT BRANCHNO.143, COMMERCIAL STREETBANGALOREKA560001IN

41

B63352256

10063815

Punjab National Bank

28/06/2007

-

19/11/2012

300000000.0

Bangalore Cantonment Branch, Davidoss Building,143, Commercial Street,BangaloreKA560001IN

42

B56236524

10028696

State Bank Of Mysore

30/11/2006

-

18/08/2012

770000000.0

Industrial Finance Branch,No.18, Midford Gardens Road,BangaloreKA560001IN

43

B40494783

10069731

SATATE BANK OF HYDERABAD

04/09/2007

-

05/05/2012

315000000.0

PARK STREET BRANCHPODDAR POINT 113 PARK STREETKOLKATAWB700016IN

44

B40495749

10114300

STATE BANK OF HYDERABAD

30/06/2008

-

05/05/2012

280000000.0

PARK STREET BRANCH113 PARK STREET, PODDAR POINKOLKATAWB700016IN

45

B40224354

10043290

Syndicate Bank

21/03/2007

28/01/2008

04/05/2012

1430000000.0

Industrial Finance Branch, Manipal Centre,Dickenson Road,BangaloreKA560042IN

46

B40224461

10039786

Syndicate Bank

20/02/2007

-

04/05/2012

770000000.0

Industrial Finance Branch, Manipal Centre,Dickenson Road,BangaloreKA560042IN

47

B39228044

10162624

ICICI BANK LIMITED

25/06/2009

-

27/04/2012

70000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

48

B39229737

10090951

ICICI BANK LIMITED

22/01/2008

12/01/2011

27/04/2012

2315000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

49

B39228887

10261848

ICICI BANK LIMITED

12/01/2011

-

27/04/2012

100000000.0

LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN

50

B35495498

80036581

UNION BANK OF INDIA

25/11/2005

09/08/2007

20/03/2012

550000000.0

INDUSTRIAL FINANCE BRANCH1/1, CAMAC STREET, 1ST FLOORKOLKATAWB700016IN

51

B08627747

10112891

YES BANK LIMITED

16/07/2008

09/10/2009

21/03/2011

662500000.0

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN

52

B09588781

10087507

STATE BANK OF INDIA

14/01/2008

23/06/2009

14/03/2011

4068000000.0

CAG,Reliance House,34Jawaharlal Nehru RoadkolkataWB700071IN

 

 

CORPORATE INFORMATION

 

Subject is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its equity shares are listed on two stock exchanges in India. The Company is engaged in the business of infrastructure development which inter-alia includes water management, water infrastructure development, waste water treatment, power generation, transmission and distribution, solid waste management, and other civil infrastructures.

 

 

PERFORMANCE REVIEW

 

Their revenue from operations on a standalone basis increased to INR 16111.071 Million from INR 14072.065 Million in the previous year at a growth rate of 14.49%. Our earnings before interest, depreciation, tax and amortizations (EBIDTA) aggregated to INR 2340.730 Million up by 8.59% from INR 2155.516 Million in the previous year. Further, the net profit after tax (PAT) for the year has increase by 9.99% to INR 143.638 Million as compared to INR 130.590 Million in the previous year.

 

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

GLOBAL ECONOMIC OVERVIEW

 

Global economic growth stagnated during 2016 following a deceleration in trade activities, lowered investments and political uncertainties in advanced economies (US, Europe and Japan). this was supported by an accelerating output marked by declining unemployment. In non-advanced economies, slower growth was the result of commodity price declines and political turmoil. As a result, global growth is projected to recover to 3.5% in 2017 from 3.2% in 2016. the forecast was revised up by 30 bps for 2017 compared with April 2016 projections. this eflected a more subdued outlook following the Brexit referendum and weaker-than-expected growth in the us. Long-term prospects of emerging market economies improved on the back of a visible lowering of interest rates in advanced economies and stronger commodity prices. Asia and India demonstrated robust growth.

 

 

INDIAN ECONOMIC OVERVIEW

 

India’s GDP grew at 7.1% in FY17 versus a revised 8% in FY16. India’s GDP growth in the January-March quarter was lower than China’s 6.9% for this period. demonetisation had a pronounced broad-based impact on the economy in the fourth quarter. despite a sequential slowdown, agriculture and mining sectors held up with consumption being robust. Manufacturing, construction and major services were hit by the currency squeeze, pulling down real gross domestic product (GDP) growth in Q4FY17 to 6.1% from 7%.

 

The services sector grew at a rate of 8.8% during FY2016-17 while the performance of trade, hotels and restaurants, and transport, storage and communication sectors are expected to improve during FY2017-18.

 

 

OUTLOOK:

 

The growth estimate is contingent on the prediction of normal monsoon in this year, along with expectation of a boost in consumption demand, increased private sector and government spending. The nationwide roll-out of the goods and services tax in the third quarter of FY18 is also expected to result in an increment of 0.25% to 0.5% to GDP growth. CARE Ratings expects the economy to grow 7.6 to7.8% in FY18

 

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31.12.2017.

 

PARTICULARS

 

Quarter Ended 31.12.2017

Unaudited

Quarter Ended 31.09.2017

Unaudited

Nin Months Ended 31.12.2017

Unaudited

SALES

 

 

 

 

Income

3440.842

1976.112

8664.157

 

Other Income

54.127

75.816

257.479

 

TOTAL                                    

3494.969

2051.928

8921.636

 

 

 

 

EXPENSES

 

 

 

 

Cost of Materials Consumed and Direct Expenses

1192.289

1283.167

4641.246

 

Purchase of Traded Goods

1272.411

66.738

1616.275

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

--

--

--

 

Employees benefits expense

112.550

114.046

345.323

 

Depreciation and Amortization Expenses

19.364

19.189

57.873

 

Other Expenses

158.489

108.266

433.264

 

Financial Cost

652.535

360.995

1558.046

 

TOTAL                                               

3407.638

1952.401

8652.027

 

 

 

 

PROFIT/(LOSS) BEFORE TAX 

87.331

99.527

269.609

 

 

 

 

TAX EXPENSES

 

 

 

Current Tax

Deferred Tax

13.923

(10.891)

25.956

(7.959)

57.539

(23.937)

Net tax Expenses

3.032

17.997

33.602

 

 

 

 

PROFIT/(LOSS) AFTER TAX

84.299

81.530

236.007

 

 

 

 

Other comprehensive income/(expenses) (net of tax) not to be reclassified to state of Profit or Loss in subsequent periods

(0.340)

(0.022)

(0.757)

 

 

 

 

Total Comprehensive Income for the Period

83.959

81.508

235.250

Paid-up Equity Share Capital

819.45

819.45

819.45

Earning Per Equity Share (nominal value of equity share INR 2/- each)

 

 

 

Basic and Diluted

2.29

2.22

6.42

 

 

FIXED ASSETS:

 

  • Land
  • Building
  • Plant and Machinery
  • Furniture and Fixture
  • Vehicles

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 65.23

UK Pound

1

INR 89.71

Euro

1

INR 79.50

 

 

INFORMATION DETAILS

 

Information Gathered by :

SPR

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

JYO

 

 

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)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.