|
|
|
MIRA INFORM REPORT
|
Report No. : |
494320 |
|
Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
WINDSOR MACHINES LIMITED (w.e.f. 2005) |
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|
|
Formerly Known
As : |
DGP WINDSOR INDIA LIMITED |
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Registered
Office : |
102/103, Devmilan Co-operative Housing Society, Next to Tip Top Plaza,
L.B.S. Road, Thane (West), Thane – 400604, Maharashtra |
|
Tel. No.: |
91-79-30262131 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
04.05.1963 |
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|
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Com. Reg. No.: |
11-012642 |
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|
Capital
Investment / Paid-up Capital : |
INR 129.864
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1963PLC012642 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0388039892 |
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TIN No.: |
27090133516 |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACD4302P1ZN |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACD4302P |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
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Line of Business
: |
The company is in business of manufacturing of plastic
processing machinery, which includes pipe extrusion, blown film extrusion and
injection moulding machines.
[Registered Activity] |
|
|
|
|
No. of Employees
: |
537 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1963. It is a manufacturer and
exporter of plastic processing machines, pipe extrusion injection moulding
and blown film machineries. For the financial year 2017, the revenue of the company has increased
by 6.95% along with average profit margin of 4.64%. The sound financial profile of the company is marked by adequate
networth base along with comfortable debt coverage indicators. The company has its share price trading at around INR 120 against the
face value (FV) of INR 02 on BSE as 26th February, 2018. Rating also derives strength from company’s established track record
of business. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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
NOT AVAILABLE
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 05.03.2018.
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 BY
|
Name : |
Mr. Yagnik Bhatia |
|
Designation : |
Senior Executive Sales |
|
Contact No.: |
91-8238089650 |
|
Date : |
26.02.2018 |
Management Non-Cooperative (Tel. No.:
91-22-25836591)
LOCATIONS
|
Registered Office : |
102/103, Devmilan Co-operative Housing Society, Next to Tip Top Plaza,
L.B.S. Road, Thane (West), Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-25836592 |
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Fax No.: |
91-22-25836285 |
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E-Mail : |
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|
Website : |
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|
Corporate Office
/ Factory 1:
|
Plot 5402-5403, Phase IV, GIDC, Vatva, Ahmedabad – 382445, Gujarat, India |
|
Tel. No.: |
91-79-25841591 / 2 / 3/ 30262100/ 258 |
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Fax No.: |
91-79-25842059 / 25842145 |
|
E-Mail : |
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|
Factory 2: |
Thane Plot No. E 6, U2, Road, Wagle
Industrial Estate, Thane-400604, |
|
E-Mail : |
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Factory 3 : |
Chhatral Factory Plot No. 6 and 7, GIDC Industrial Estate, Chhatral Taluka, Kalol
District, Mehsana-382729, Gujarat, India |
|
Tel. No.: |
91-2764-233646 / 47 / 48 / 49 |
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Fax No.: |
91-2764-233643 |
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|
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Branch Office : |
02, Raja House, 30-31, Nehru Place, New Delhi – 110019, India |
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Tel. No.: |
91-11-26452634 / 35, 32931985 |
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Fax No.: |
91-11-26452633 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajan Sankaranarayan Tharakad |
|
Designation : |
Whole-time Director |
|
Address : |
B/82, Thirthbhoomi Apartment Near. Law Garden, B/H Gajjar Hall, Elisbridge, Ahmedabad - 380006, Gujarat, India |
|
Qualification : |
Graduation in Mechanical Engineering from SVNIT, Surat. Post Graduate in Financial Management from JBIMS, Mumbai. Godrej and Boyce Manufacturing Sundaram Clayton (TVS Group), Tata Auto comp Dagger Forst Tools (Yash Birla Group) |
|
DIN No.: |
05217297 |
|
|
|
|
Name : |
Mr. Prakash Chandra Kundalia |
|
Designation : |
Director |
|
Address : |
Flat No-1, Ground Floor, Sorab House, Garden Road, Colaba, Mumbai - 400039, Maharashtra, India |
|
Date of Appointment : |
28.01.2008 |
|
DIN No.: |
00323801 |
|
|
|
|
Name : |
Mr. Mahendra Kumar Arora |
|
Designation : |
Director |
|
Address : |
Flat No. 2, 8 Golf Links,, Pali Hill, Khar, Mumbai - 400052, Maharashtra, India |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00031777 |
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|
|
|
Name : |
Mr. Jayant Mahiendra Thakur |
|
Designation : |
Director |
|
Address : |
Jyoti Plaza, Wing C, 5th Floor Office, No.7 S.V. Road, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Date of Appointment : |
30.03.2011 |
|
DIN No.: |
01328746 |
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|
|
|
Name : |
Ms. Pushp Raj Singhvi |
|
Designation : |
Director |
|
Address : |
B-302 Highland Park Co-operative Housing Society Limited, Link Road, Lokhandwala, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
30.03.2011 |
|
DIN No.: |
00347511 |
|
|
|
|
Name : |
Mr. Shishir Vasant Dalal |
|
Designation : |
Director |
|
Address : |
Pallav Bunglow, Garden Colony, Near Sir Lallu Bhai Park, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Appointment : |
29.07.2013 |
|
DIN No.: |
00007008 |
|
|
|
|
Name : |
Ms. Mahua Roy Chowdhury |
|
Designation : |
Director |
|
Address : |
2A/54, Kalpataru Estate, J.V. Link Road,, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Date of Appointment : |
04.08.2014 |
|
DIN No.: |
02704777 |
KEY EXECUTIVES
|
Name : |
Mr. Rajan Sankaranarayan Tharakad |
|
Designation : |
Chief Executive Officer |
|
Address : |
B/82, Thirthbhoomi Apartment Near. Law Garden, B/H Gajjar Hall, Elisbridge, Ahmedabad - 380006, Gujarat, India |
|
Qualification : |
Graduation in Mechanical Engineering from
SVNIT, Surat. Post Graduate in Financial Management from JBIMS, Mumbai.
Godrej and Boyce Manufacturing Sundaram Clayton (TVS Group), Tata Auto comp
Dagger Forst Tools (Yash Birla Group) |
|
Date of Appointment : |
12.11.2013 |
|
PAN No.: |
ACBPT2571L |
|
|
|
|
Name : |
Mr. Vatsal Harishbhai Parekh |
|
Designation : |
Chief Financial Officer |
|
Address : |
A - 45, Marutinandan Vihar, S. P. Ring Road, Bopal, Ahmedabad - 380058, Gujarat, India |
|
Date of Appointment : |
01.10.2014 |
|
PAN No.: |
AFJPP2999D |
|
|
|
|
Name : |
Mr. Pritiben Natvarlal Patel |
|
Designation : |
Company Secretary |
|
Address : |
117, Narnarayan Soc., B/H. Daxini Soc., Opp. Ripal Appt., Near Canal, Maninagar, Ahmedabad - 380008, Gujarat, India |
|
Date of Appointment : |
16.01.2011 |
|
PAN No.: |
AUJPP3555C |
|
|
|
|
Name : |
Mr. Yagnik Bhatia |
|
Designation : |
Senior Executive Sales |
SHAREHOLDING PATTERN
AS ON DECEMBER 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 |
38000012 |
58.52 |
|
|
(B) Public |
26931788 |
41.48 |
|
|
Grand Total |
64931800 |
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 |
||
|
Any Other (specify) |
38000012 |
58.52 |
|
|
Castle Equipments Private Limited |
35000000 |
53.90 |
|
|
Ghodbunder Developers Private Limited |
3000012 |
4.62 |
|
|
Sub Total A1 |
38000012 |
58.52 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
38000012 |
58.52 |
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/ |
15066 |
0.02 |
|
|
Financial Institutions/ Banks |
31362 |
0.05 |
|
|
Any Other (specify) |
600 |
0.00 |
|
|
Foreign Bank |
600 |
0.00 |
|
|
Sub Total B1 |
47028 |
0.07 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
7756526 |
11.95 |
|
|
Individual share capital in excess of INR 0.200 Million |
1394039 |
2.15 |
|
|
Any Other (specify) |
17734195 |
27.31 |
|
|
Trusts |
600 |
0.00 |
|
|
HUF |
837404 |
1.29 |
|
|
NRI – Non- Repat |
77566 |
0.12 |
|
|
Director or Director's Relatives |
650 |
0.00 |
|
|
NRI – Repat |
5992160 |
9.23 |
|
|
Vandana Ramesh Sitlani |
5899748 |
9.09 |
|
|
Overseas corporate bodies |
1826 |
0.00 |
|
|
Clearing Members |
1231610 |
1.90 |
|
|
Bodies Corporate |
9592379 |
14.77 |
|
|
Vibhuti Investments Company Limited |
3178331 |
4.89 |
|
|
D G P Securities Limited |
1805000 |
2.78 |
|
|
Edumatrix Services (India) Private Limited |
1469603 |
2.26 |
|
|
Sub Total B3 |
26884760 |
41.40 |
|
|
B=B1+B2+B3 |
26931788 |
41.48 |
BUSINESS DETAILS
|
Line of Business : |
The company is in business of manufacturing of plastic processing
machinery, which includes pipe extrusion, blown film extrusion and injection
moulding machines.
[Registered Activity] |
||||
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
537 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors 1 : |
|
|
Name : |
Haribhakti and Company LLP Chartered Accountants |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Niraj D. Adatia and Associates Chartered Accountants |
|
Address : |
306, Zee Nayak Building, M.G. Road, Opposite Pritam Restaurant, Vile
Parle (East), Mumbai-400057, Maharashtra, India |
|
Tel. No.: |
91-22-26513538 |
|
Mobile No.: |
91-9766008722 |
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E-Mail : |
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|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
Castle Equipments Private Limited CIN No.: U29268MH2009PTC191650 |
|
|
|
|
Wholly Owned
Subsidiary : |
Wintech B.V. |
|
|
|
|
Step down Wholly
Owned Subsidiary : |
Wintal Machines S.R.L |
|
|
|
|
Step down
Subsidiary : |
Wintech S.R.L |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 2/- each |
INR 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64931800 |
Equity Shares |
INR 2/- each |
INR 129.864
Million |
|
|
|
|
|
a) The Company has only one class of equity share having a par value of INR 2/- each. Each shareholder is eligible for one vote per share held. In event of liquidation, 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 number of equity shares held by shareholders.
b)
Reconciliation of Equity Shares Outstanding at the beginning and at the end of
the year
|
Particulars |
As on 31.03.2017 |
|
|
No. of Shares (In Million) |
INR In Million |
|
|
At the beginning of the year |
64.932 |
129.864 |
|
Shares outstanding at the end of the year |
64.932 |
129.864 |
c)
Details of Shareholders holding more than 5% shares in the Company
|
Name of
Shareholders |
As on 31.03.2017 |
|
|
No. of Shares |
% of Holding |
|
|
Castle Equipments Private Limited |
35000000 |
53.90% |
|
Vandana Ramesh Sitlani |
5899748 |
9.09% |
d) 35000000 Equity Shares (35000000 Equity shares Previous year) are held by Castle Equipments Private Limited, the holding Company.
e) No Shares have been issued for consideration other than cash during the period of last five years.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
129.864 |
129.864 |
129.864 |
|
(b) Reserves &
Surplus |
744.346 |
605.071 |
465.693 |
|
(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) |
874.210 |
734.935 |
595.557 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
841.222 |
152.778 |
208.333 |
|
(b) Deferred tax
liabilities (Net) |
28.496 |
17.981 |
0.000 |
|
(c) Other long term
liabilities |
35.000 |
40.000 |
45.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
904.718 |
210.759 |
253.333 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
50.153 |
50.496 |
46.564 |
|
(b) Trade payables |
553.107 |
447.368 |
372.480 |
|
(c) Other current
liabilities |
594.211 |
497.275 |
383.500 |
|
(d) Short-term provisions |
149.461 |
81.723 |
17.718 |
|
Total Current Liabilities
(4) |
1346.932 |
1076.862 |
820.262 |
|
|
|
|
|
|
TOTAL |
3125.860 |
2022.556 |
1669.152 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
493.212 |
309.992 |
304.717 |
|
(ii) Intangible Assets |
36.795 |
31.198 |
4.122 |
|
(iii) Capital
work-in-progress |
12.869 |
54.788 |
10.994 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
359.683 |
310.464 |
221.343 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
40.980 |
|
(d) Long-term Loan and Advances |
439.039 |
96.250 |
10.904 |
|
(e) Other Non-current
assets |
16.926 |
8.663 |
7.915 |
|
Total Non-Current Assets |
1358.524 |
811.355 |
600.975 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
130.000 |
12.074 |
25.000 |
|
(b) Inventories |
541.342 |
461.926 |
544.957 |
|
(c) Trade receivables |
194.428 |
218.757 |
155.291 |
|
(d) Cash and cash
equivalents |
40.068 |
43.699 |
15.885 |
|
(e) Short-term loans and
advances |
720.555 |
359.780 |
257.652 |
|
(f) Other current assets |
140.943 |
114.965 |
69.392 |
|
Total Current Assets |
1767.336 |
1211.201 |
1068.177 |
|
|
|
|
|
|
TOTAL |
3125.860 |
2022.556 |
1669.152 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3001.975 |
2806.962 |
2277.183 |
|
|
Other Income |
80.484 |
57.878 |
80.344 |
|
|
TOTAL |
3082.459 |
2864.840 |
2357.527 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1870.522 |
1694.002 |
1594.997 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.675) |
125.863 |
(121.514) |
|
|
Employees benefits
expense |
394.513 |
348.884 |
315.626 |
|
|
Other expenses |
435.332 |
373.356 |
385.729 |
|
|
TOTAL |
2685.692 |
2542.105 |
2174.838 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
396.767 |
322.735 |
182.689 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
112.275 |
29.990 |
27.895 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
284.492 |
292.745 |
154.794 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
59.701 |
36.409 |
40.736 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
224.791 |
256.336 |
114.058 |
|
|
|
|
|
|
|
Less |
TAX |
85.516 |
113.181 |
35.126 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
139.275 |
143.155 |
78.932 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
605.071 |
465.693 |
394.099 |
|
|
|
|
|
|
|
Add |
Carrying value of
assets where useful life is nil as on 01.04.2014 (after considering residual
value) (Net of deferred tax of INR 3.777 Million) |
0.000 |
(3.777) |
(7.338) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
744.346 |
605.071 |
465.693 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
550.171 |
693.924 |
466.231 |
|
|
TOTAL EARNINGS |
550.171 |
693.924 |
466.231 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials and
components |
346.315 |
262.875 |
301.323 |
|
|
TOTAL IMPORTS |
346.315 |
262.875 |
301.323 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.14 |
2.20 |
1.22 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
116.556 |
60.556 |
41.667 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash Inflow/(outflow) from operating activities |
(269.772) |
260.081 |
(81.832) |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
31.12.2017 3rd
Quarter |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Net Sales |
629.310 |
859.510 |
843.750 |
|
Total Expenditure |
619.810 |
729.500 |
746.330 |
|
PBIDT (Excluding Other Income) |
9.500 |
130.010 |
97.420 |
|
Other Income |
36.380 |
36.910 |
34.680 |
|
Operating Profit |
45.880 |
166.920 |
132.100 |
|
Interest |
30.620 |
31.100 |
28.560 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
15.260 |
135.820 |
103.540 |
|
Depreciation |
17.560 |
17.300 |
17.140 |
|
Profit Before Tax |
(2.300) |
118.520 |
86.400 |
|
Tax |
(1.000) |
40.250 |
31.260 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
(1.300) |
78.270 |
55.140 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(1.300) |
78.270 |
55.140 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
23.64 |
28.45 |
24.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
15.44 |
12.83 |
14.66 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
107.93 |
96.39 |
85.24 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.73 |
0.70 |
0.34 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.73 |
0.82 |
0.57 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.74 |
0.64 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.15 |
0.36 |
0.50 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.54 |
1.47 |
1.38 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.62 |
0.54 |
0.54 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.53 |
10.76 |
6.55 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
4.64 |
5.10 |
3.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.46 |
7.08 |
4.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.93 |
19.48 |
13.25 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.31 |
1.12 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.91 |
0.70 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.36 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.76 |
2.03 |
2.28 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.31 |
1.12 |
1.30 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 02.00/- |
|
Market Value |
INR 120.00/- |
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 |
129.864 |
129.864 |
129.864 |
|
Reserves & Surplus |
465.693 |
605.071 |
744.346 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
595.557 |
734.935 |
874.210 |
|
|
|
|
|
|
long-term borrowings |
208.333 |
152.778 |
841.222 |
|
Short term borrowings |
46.564 |
50.496 |
50.153 |
|
Current Maturities of
Long term debt |
41.667 |
60.556 |
116.556 |
|
Total borrowings |
296.564 |
263.830 |
1007.931 |
|
Debt/Equity ratio |
0.498 |
0.359 |
1.153 |
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 |
2277.183 |
2806.962 |
3001.975 |
|
|
|
23.265 |
6.947 |
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 |
2277.183 |
2806.962 |
3001.975 |
|
Profit |
78.932 |
143.155 |
139.275 |
|
|
3.47% |
5.10% |
4.64% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
129.864 |
129.864 |
|
(b) Reserves &
Surplus |
|
512.441 |
394.879 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
(3) minority interest |
|
0.020 |
0.082 |
|
Total Shareholders’ Funds
(1) + (2) |
|
642.325 |
524.825 |
|
|
|
|
|
|
(4) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
841.222 |
152.778 |
|
(b) Deferred tax liabilities
(Net) |
|
55.070 |
17.981 |
|
(c) Other long term
liabilities |
|
59.276 |
83.254 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
955.568 |
254.013 |
|
|
|
|
|
|
(5) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
53.527 |
58.123 |
|
(b) Trade payables |
|
619.100 |
524.770 |
|
(c) Other current
liabilities |
|
710.488 |
608.650 |
|
(d) Short-term provisions |
|
149.460 |
81.724 |
|
Total Current Liabilities
(4) |
|
1532.575 |
1273.267 |
|
|
|
|
|
|
TOTAL |
|
3130.468 |
2052.105 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
512.687 |
325.948 |
|
(ii) Intangible Assets |
|
52.257 |
52.767 |
|
(iii) Capital
work-in-progress |
|
12.869 |
54.788 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
2.436 |
2.445 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
5.764 |
|
(d) Long-term Loan and Advances |
|
443.574 |
97.841 |
|
(e) Other Non-current
assets |
|
16.926 |
8.663 |
|
Total Non-Current Assets |
|
1040.749 |
548.216 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
130.000 |
12.074 |
|
(b) Inventories |
|
654.836 |
610.133 |
|
(c) Trade receivables |
|
361.623 |
345.738 |
|
(d) Cash and cash
equivalents |
|
47.933 |
46.223 |
|
(e) Short-term loans and
advances |
|
754.385 |
374.754 |
|
(f) Other current assets |
|
140.942 |
114.967 |
|
Total Current Assets |
|
2089.719 |
1503.889 |
|
|
|
|
|
|
TOTAL |
|
3130.468 |
2052.105 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
3539.541 |
3086.853 |
|
|
Other Income |
|
85.357 |
58.887 |
|
|
TOTAL |
|
3624.898 |
3145.740 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2155.264 |
1816.799 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
21.228 |
134.410 |
|
|
Employees benefits
expense |
|
518.432 |
477.103 |
|
|
Other expenses |
|
540.230 |
487.923 |
|
|
TOTAL |
|
3235.154 |
2916.235 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
389.744 |
229.505 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
114.100 |
30.406 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
275.644 |
199.099 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
72.531 |
53.224 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
203.113 |
145.875 |
|
|
|
|
|
|
|
Less |
TAX |
|
87.764 |
113.182 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
115.349 |
32.693 |
|
|
|
|
|
|
|
Add |
Minority interest |
|
0.062 |
0.056 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) FOR THE YEAR |
|
115.411 |
32.749 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
1.78 |
0.50 |
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 |
No |
|
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 |
NATURE OF BUSINESS:
The company is in business of manufacturing of plastic processing machinery, which includes pipe extrusion, blown film extrusion and injection moulding machines. The company was incorporated on May 4, 1963. The company is listed with Bombay Stock Exchange and National Stock Exchange. The registered office of the company is located at Thane (Maharashtra).
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENT:
As are aware, the Company has been engaged in the manufacture of Extrusion Machinery (for Pipe and Blown Film Extrusion) and Injection Moulding Machinery. In-spite of various challenges faced due to the impact
of Demonetization, the company managed to stay ahead on its growth path.
This was possible only due to the persistent and consistent efforts of the TEAM to develop new products and improvise existing product ranges. With these developments, the company looks optimistically to a better future in the coming years as it has entered into new segments, new markets, new applications and all these initiatives would help in preparing a strong base for the future.
OUTLOOK:
Considering the opportunities, threats and strengths of the Company, management expects to increase the market share through new product launches, expanding its geographical coverage in more and more regions (both at the domestic and global level). Recent launch of new products and entry into new markets gives us the confidence to expand their footprint and grow the business. The company continues its focus on marketing activities and strengthening its agent network by participating in various exhibitions and trade-fairs.
SEGMENT INFORMATION
FOR THE YEAR ENDED MARCH 31, 2017:
EXTRUSION MACHINERY:
PIPE SEGMENT: With the thrust and initiatives taken by the government for strengthening the infrastructure segment, they foresee demand for Pipes (PVC and HDPE) rising in the coming months and years.
With Government encouragement for adoption of micro irrigation systems as a regular practice for future safety due to water scarcity and conservation of natural water resources, the drip irrigation business also appears to be poised for growth in the coming years.
BLOWN FILM SEGMENT: With growing demands on Packaging applications, need for preservation of food and other perishable items, changes in lifestyle etc., this segment is growing. Many multinationals are now looking towards setting up new plants / sourcing packing materials (various types of flexible packaging materials) from
India. In view of the existing advanced technologies, they see a good potential for growth in this expanding segment.
INJECTION MOULDING
MACHINERY:
This segment is growing, albeit at a pace lower than expected. However, with the positive initiatives taken by the
government of “Make in India” and the like, this segment is poised for larger growth in the coming years.
With the imposition of “Anti-Dumping Duty”, various overseas manufacturers are exploring setting up their manufacturing plants in India either on their own or through collaborations with local players. The threat of used imported machinery still continues to bother the local manufacturers.
Demand for advanced technology machines which are today being manufactured by the local manufacturers is growing and newer entrants are diversifying into plastic processing business. With their per capita consumption still being low, there seems to be a huge potential for growth in the coming years.
Windsor is gearing up to meet this huge challenge with the introduction of European technology products completely manufactured in India.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G53754917 |
100123455 |
YES BANK LIMITED |
11/09/2017 |
- |
800000000.0 |
Nehru Centre, 9th Floor, Discovery of India, Dr. A. B. Road, Worli, Mumbai-400604, Maharashtra, India |
|
2 |
G32058208 |
100069175 |
YES BANK LIMITED |
06/12/2016 |
- |
800000000.0 |
Nehru Centre, 9th Floor, Discovery of India, Dr. A. B. Road, Worli, Mumbai-400604, Maharashtra, India |
|
3 |
C45069283 |
10552023 |
YES BANK LIMITED |
11/11/2014 |
- |
250000000.0 |
Nehru Centre, 9th Floor, Discovery of India, Dr. A. B. Road, Worli, Mumbai-400604, Maharashtra, India |
|
4 |
G36956530 |
10332204 |
YES BANK LIMITED |
02/12/2011 |
31/01/2017 |
1050000000.0 |
Nehru Centre, 9th Floor, Discovery of India, Dr. A. B. Road, Worli, Mumbai-400604, Maharashtra, India |
|
5 |
C44730679 |
10317212 |
YES BANK LIMITED |
13/10/2011 |
14/02/2015 |
250000000.0 |
Nehru Centre, 9th Floor, Discovery of India, Dr. A. B. Road, Worli, Mumbai-400604, Maharashtra, India |
|
6 |
Y10267626 |
90166379 |
GRINDLAYAS BANK |
08/06/1995 |
- |
4510800.0 |
90, Mahatma Gandhi Road, Fort, Mumbai-400023, Maharashtra, India |
|
7 |
Y10264412 |
90163165 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
18/05/1995 |
- |
15000000.0 |
Vikas Deep 22; Station Road, Lucknow-228019, Uttar Pradesh, India |
|
8 |
Y10263623 |
90162376 |
DEUTSCHE BANK |
11/05/1990 |
10/12/1991 |
2500000.0 |
Tulsiani Chambers, Nariman Point, Mumbai-400021, Maharashtra, India |
|
9 |
Y10262892 |
90161645 |
GRINDLAYA BANK |
25/01/1982 |
- |
200000.0 |
90, Mahatma Gandhi Road, Fort, Mumbai-400023, Maharashtra, India |
|
10 |
Y10262844 |
90161597 |
GRINDLAYS BANK |
13/02/1981 |
04/03/1987 |
3500000.0 |
90, Mahatma Gandhi Road, Fort, Mumbai-400023, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the Company not acknowledged as debts (29.1 Pursuant to BIFR order dated September 21, 2010, the unsecured liabilities as on cut of date March 31, 2009, including those under litigation/appeal shall on crystalisaion after exercise of all the legal remedies available to the Company, shall be paid only 15% of the principal amount on interest free basis. All penal interest, interest, damages, penalties charged or chargeable on the same and balance of the principal amount shall be waived.) |
3.115 |
3.115 |
|
Disputed income tax
liability |
|
|
|
At High court Level |
74.620 |
74.620 |
|
At CIT (Appeals) Level |
130.821 |
128.485 |
|
At BIFR Level |
135.377 |
122.263 |
|
For the A.Y 1994-95, 1995-96 and 1998-99 and for the Block Assessment relating to A.Y 1988-89 to 1997-98 the income tax department has filed an appeal in the High Court. In all the above matters, the order of CIT (Appeal) and Tribunal were passed in favour of the company. The amount of claim by the department is of INR 74.620 million and interest as applicable thereon |
|
|
|
For the Assessment year 2011-12, the Assessing Officer disallowed the carried forward unabsorbed depreciation of INR 177.579 million for AY 1997-98 to AY 2000-01 and added INR 200.431 million by treating one time loan settlement under BIFR proceeding as income. The Company has filed an appeal before the Commissioner of Income Tax (Appeals) and also filed application for rectification. The amount of contingent liability involved is INR 130.821 million and interest as applicable thereon. |
|
|
|
The Company is pursuing the balance tax reliefs as recommended by the BIFR for consideration by DDIT in the Sanctioned Scheme of Rehabilitation. The company has provided the preliminary information required by the Hon’ble DDIT. Pending disposal of the application by DDIT, the company has not provided for any liability of tax in its accounts on the matters under consideration. The amount of contingent liability involved is INR 135.377 million and interest as applicable thereon. (The Company has been advised that the outcome of the all the above cases will be in favour of the Company.) |
|
|
|
Disputed excise/service tax liability (includes estimated interest on disputed liability of INR 1.705 million (PY INR 1.342 million)) |
10.121 |
8.503 |
|
Excise/service tax liability (show cause notices/demands in which company is yet to file appeal till 31.03.2017) |
1.106 |
1.089 |
|
Guarantee given by the Company on behalf of a body corporate to a financial institution. |
1.800 |
1.800 |
|
In respect of bank guarantees. |
11.214 |
9.106 |
|
Custom Duty which may arise if obligation for exports is not fulfilled against import of capital goods under EPCG. |
25.082 |
0.000 |
|
In respect of claims of 6 workmen (previous year 6 workmen) at Vatva works whose services were terminated by the Company. The Company’s appeal is pending before Industrial Court / High Court. However company has agreed for 70 days retrenchment compensation in the court and same is also provided in the books. |
Unascertained |
Unascertained |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER, 2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine Months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
843.754 |
859.510 |
2332.574 |
|
Other Operating Income |
34.677 |
36.906 |
107.965 |
|
Total
Income from Operations |
878.431 |
896.416 |
2440.539 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
538.713 |
548.358 |
1480.003 |
|
Changes in inventories of finished goods and
work-in-progress |
(3.092) |
(15.618) |
(49.738) |
|
Excise duty on finished goods |
0.000 |
(0.416) |
53.659 |
|
Employee benefits expense |
111.208 |
109.203 |
320.944 |
|
Finance cost |
28.558 |
31.102 |
90.276 |
|
Depreciation and Amortization expenses |
17.142 |
17.300 |
51.997 |
|
Other Expenditure |
99.503 |
87.965 |
290.777 |
|
Total
Expenses |
792.032 |
777.894 |
2237.918 |
|
Profit
/ (Loss) before Tax |
86.399 |
118.522 |
202.621 |
|
Tax Expense |
31.262 |
40.252 |
70.513 |
|
Profit
/ (Loss) after Tax |
55.137 |
78.270 |
132.108 |
|
Other
comprehensive income |
|
|
|
|
Remeseaurement
of the net defined benefit plan |
2.091 |
(4.593) |
(2.675) |
|
Total
comprehensive income / (loss) (net of tax) |
57.228 |
73.677 |
129.433 |
|
Paid-up Equity Share Capital (Face value INR 2/- per
share) |
129.864 |
129.864 |
129.864 |
|
Earnings
per Share (EPS) - INR |
0.85 |
1.21 |
2.03 |
SEGMENT
INFORMATION FOR THE QUARTER ENDED 31ST DECEMBER, 2017, UNDER SEBI (LODR)
REGULATIONS, 2015
(INR In Million)
|
Sr. No. |
Particular |
Quarter ended |
Nine Months ended |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
- Extrusion Machinery Division |
452.104 |
407.936 |
1150.847 |
|
|
- Injection Moulding Machinery |
390.979 |
454.358 |
1186.483 |
|
|
Total |
843.083 |
862.294 |
2337.330 |
|
|
|
|
|
|
|
2. |
Segment Result |
|
|
|
|
|
- Extrusion Machinery Division |
42.141 |
45.128 |
77.735 |
|
|
- Injection Moulding Machinery |
42.060 |
68.455 |
116.590 |
|
|
Total Segment
Results |
84.201 |
113.583 |
194.325 |
|
|
Unallocated Corporate Expenses net of unallocated income |
30.756 |
36.041 |
98.572 |
|
|
Profit /
(Loss)before interest etc. , Extra - ordinary items and taxation |
114.957 |
149.624 |
292.897 |
|
|
Finance cost |
28.558 |
31.102 |
90.276 |
|
|
Profit / (Loss)
before taxation and Extra - Ordinary items |
86.399 |
118.522 |
202.621 |
|
|
Tax Expenses |
31.262 |
40.252 |
70.513 |
|
|
Net Profit/ (Loss)
from Ordinary Activities after tax |
55.137 |
78.270 |
132.108 |
|
|
Other Comprehensive Income |
2.091 |
(4.593) |
(2.675) |
|
|
Net Comprehensive
Income |
57.228 |
73.677 |
129.433 |
|
|
|
|
|
|
|
3. |
Capital Employed (Segment Assets Less Segment Liabilities) |
|
|
|
|
|
Segment Assets |
|
|
|
|
|
- Extrusion Machinery Division |
914.634 |
947.944 |
914.634 |
|
|
- Injection Moulding Machinery |
775.620 |
630.966 |
775.620 |
|
|
Total Segment
Assets |
1690.254 |
1578.910 |
1690.254 |
|
|
Unallocated Corporate Assets |
1713.540 |
1623.491 |
1713.540 |
|
|
Total Assets |
3403.794 |
3202.401 |
3403.794 |
|
|
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
|
- Extrusion Machinery Division |
692.933 |
701.585 |
692.933 |
|
|
- Injection Moulding Machinery |
590.638 |
550.000 |
590.638 |
|
|
Total Segment
Liabilities |
1283.571 |
1251.585 |
1283.571 |
|
|
Unallocated Corporate Liabilities |
1104.251 |
1014.004 |
1104.251 |
|
|
Total Liabilities |
2387.822 |
2265.589 |
2387.822 |
|
|
|
|
|
|
|
|
Capital Employed |
|
|
|
|
|
- Extrusion Machinery Division |
221.701 |
246.359 |
221.701 |
|
|
- Injection Moulding Machinery |
184.982 |
80.966 |
184.982 |
|
|
Total capital
employed in segments |
406.683 |
327.325 |
406.683 |
|
|
Unallocated Corporate assets less corporate liabilities |
609.289 |
609.487 |
609.289 |
|
|
Total Capital
employed |
1015.972 |
936.812 |
1015.972 |
The segment assets and segment results include the assets and expenses respectively, which are identifiable
with each segment and amounts allocated to the respective segments on a reasonable bas is.
NOTES:
1. Sales for the current quarter are not comparable with previous periods, since sales for the current quarter are net of GST whereas excise duties (for amount Refer PART I (2)(c)) formed part of sales of previous quarter.
2. The Company is pursuing the balance tax reliefs as recommended by the BIFR for consideration by DDIT in the Sanctioned Scheme of Rehabilitation. The company has provided the preliminary information required by the Hon'ble DDIT. Pending disposal of the application by DDIT, the company has not provided for any liability of tax in its accounts on the matters under consideration.
3. The Company has adopted Indian Accounting Standards ('Ind AS'), prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder, with effect from April 01, 2017 (Transition date being April 01, 2016) and accordingly these financial results have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standards) Rule, 2015 as amended by the Companies (Indian Accounting Standards) (Amendments) Rules 2016. The Financial results, presented in accordance with Ind AS 101- First - Time adoption of Indian Accounting Standards, have been prepared in accordance with the recognition and measurement principals in Ind AS 34 - Interim Financial Reporting. The Figures for the nine months and quarter ended December 31, 2016 presented here are also Ind AS compliant.
4. The Ind AS compliant financial results pertaining to corresponding 9 months and quarter ended on December 31, 2016, have not been subjected to limited review. However, the management has exercised due diligence to ensure that the financial results provide a true and fair view of the Company's affairs.
5. The Consolidated accounts will be published for the year ended March 31, 2018 in accordance with regulation 33 of the SEBI (LODR) REGULATIONS, 2015. For the 9 months ended December 31, 2017, Wintech B.V., wholly owned subsidiary, has incurred Consolidated losses of Euro 1.32 Million (INR 102.560 million) as per its unaudited accounts for 9 months ended December 31, 2017.
6. During the quarter ended on December 31, 2017, the shareholders have accorded their consent to create, issue and allot 7214644 warrants, on preferential basis to the person other than the Promoters and Promoter Group, at the EGM held on December 12, 2017. After receiving In-Principle Approval from the Stock Exchanges and 25% of the issue price (i.e. INR 115.434 million) from the allottees, the allotment of aforesaid warrant has been made by the Board of Directors at its meeting held on January 9, 2018
7. Previous period figures have been regrouped/
reclassified, wherever necessary, to make them comparable with current period
figures.
FIXED ASSETS:
- Land
- Building
- Plant and Equipment
- Patterns and jigs
- Computers
- Electrical installation and air conditioning plant
- Drawing office equipments
- Furniture and Fixture
- Office equipment
- Computer
- 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 : |
SHL |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.