|
|
|
MIRA
INFORM REPORT
|
Report No. : |
495176 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
KRYFS POWER COMPONENTS LIMITED (w. e. f. 19.06.2006) |
|
|
|
|
Formerly Known
As : |
KRYFS
LAMINATIONS LIMITED (w. e. f. 01.06.2006) KRYFS
LAMINATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Aza House, 3rd Floor, 24 Turner Road, Bandra (West), Mumbai - 400050, Maharashtra |
|
Tel. No.: |
91-22-67859999 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
05.03.1991 |
|
|
|
|
Com. Reg. No.: |
11-060602 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 88.542 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1991PLC060602 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0391155938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2791F |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACK2791F1ZK |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electric Power Distribution Transformers and its Parts, CRGO, Lamination, Cores, Slit Coils. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1991 and is engaged in
manufacturing of electric power distribution transformers and its related
accessories. The company has a capacity to convert 50000 MT per annum of CRGO
Electrical Steel into transformer laminations and cores. The subject’s client includes, Godrej, Essel Group, Crompton Greaves,
Hitachi, Adlabs Imagica, BHEL, NCC, L&T, NTPC, Siemens, Toshiba, ABB,
Bharat Bijlee, etc. As per financial record of 2017, the company has achieved 4.78% growth
in its revenue as compared to previous year and has maintained low
profitability margin of 0.15% during the year under review. Rating continue to derive strength from the company’s established
track record of business operations marked by its sound financial base along
with adequate networth position and satisfactory debt coverage indicators. However, rating strength partially offset by vulnerability of its
operating margins to volatility in raw material prices and its working
capital intensive operations. Business is active. Payments seems to be regular. In view of aforesaid, the company can be considered good for normal
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long term bank facilities = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
22.03.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
22.03.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 06.03.2018
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. Samir Mogal |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-67859999 |
|
Date : |
03.03.2018 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Aza House, 3rd Floor, 24 Turner Road, Bandra (West), Mumbai-400050, Maharashtra, India |
|
|
|
|
Tel. No.: |
91-22-67859999 (40 lines) |
|
Fax No.: |
91-22-67859988 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Unit-1, Survey No. 211/1, Near HPCL, Kherdi Main Road, Silvassa Kherdi
Village, Silvassa – 396230, Dadra and Nagar Haveli,
(U.T), India |
|
|
|
|
Other Factories: |
Located at : · Palghar, Maharashtra · Vadodara, Gujarat · Surat, Gujarat · Kherdi, Dadra Nagar Haveli (2 Units) |
|
|
|
|
Regional Presence
: |
Located at :
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Saifuddin Fakhruddin Qurelshl |
||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||
|
Address : |
1101 Daigo 'D',
Sherly Rajan Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date Of Birth/Age : |
12.05.1964 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
01.08.2011 |
||||||||||||||||||||||||||||
|
PAN No.: |
AAAPQ0313J |
||||||||||||||||||||||||||||
|
DIN No. : |
00098955 |
||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Rauzat Saifuddin Qureishi |
||||||||||||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||||||||||||
|
Address : |
1101 Daigo 'D',
Sherly Rajan Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date Of Birth/Age : |
01.03.1967 |
||||||||||||||||||||||||||||
|
Date Of Appointment : |
19.06.2000 |
||||||||||||||||||||||||||||
|
PAN No.: |
AAAPQ0618C |
||||||||||||||||||||||||||||
|
DIN No. : |
00098990 |
||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Shireen Saifuddin Qureishi |
||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||
|
Address : |
1101, Diago - D, Sherly Rajan Road, Bandra (West), Mumbai-400050, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.12.1991 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
05.12.2014 |
||||||||||||||||||||||||||||
|
PAN No.: |
AAEPQ7354B |
||||||||||||||||||||||||||||
|
DIN No.: |
07060942 |
||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Koji Hirose |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
32-15, Higashiminemachi Ota-Ku Tokyo 1450074 |
||||||||||||||||||||||||||||
|
Date of Appointment : |
01.07.2015 |
||||||||||||||||||||||||||||
|
DIN No.: |
03150076 |
||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Rakesh Madanlal Nanda |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
Naviivan
Commercial Building 3, 'A' Wing, 9th Floor, Office No. 20, Mumbai Central (East),
Mumbai - 400008, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date Of Birth/Age : |
07.08.1962 |
||||||||||||||||||||||||||||
|
Date Of Appointment : |
16.09.2015 |
||||||||||||||||||||||||||||
|
DIN No. : |
00208359 |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Jayant Govindrao Kulkarni |
||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||
|
Address : |
2, Datta Kunj, Anand Nagar, Gangapur Road, Nashik – 422005, Maharashtra, India |
||||||||||||||||||||||||||||
|
Date Of Appointment : |
17.03.2017 |
||||||||||||||||||||||||||||
|
DIN No. : |
00348942 |
||||||||||||||||||||||||||||
|
Other Directorship
:
|
|||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Saifuddin Fakhruddin Qureishi and Fakhruddin Bakirau
Qureishi (Joint) |
|
4235942 |
|
|
|
2363882 |
|
Kulsum Fakhruddin Qureishi |
|
675113 |
|
Rauzat Saifuddin Qureishi |
|
204879 |
|
Yasmin Minhaz Karachiwala |
|
20000 |
|
Karachiwala Shabbir Minhaz |
|
84 |
|
Shireen Saifuddin Qureishi |
|
100 |
|
Toyoto Tsusho Corporation, Tokyo |
|
833333 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
80.00 |
|
Public – Others – Overseas Corporate Bodies |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electric Power Distribution Transformers and its Parts, CRGO, Lamination, Cores, Slit Coils. (Registered Activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Divulged |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Divulged |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Asutosh and Pankaj Chartered Accountants |
|
Address : |
914 A, Sagar Tech Plaza, Sakinaka Junction, Andheri (East), Mumbai-400072, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAOFA9042Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
|
|
|
|
|
Subsidiary Companies : |
U40104GJ2003PTC042845
U74120MH2012PTC231003 |
|
|
|
|
Other Related Parties : |
|
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their
relatives : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8854166 |
Equity Shares |
INR 10/- each |
INR 88.542
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
88.542 |
88.542 |
88.542 |
|
(b) Reserves & Surplus |
2241.632 |
2231.608 |
2011.860 |
|
(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) |
2330.174 |
2320.150 |
2100.402 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
90.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
133.369 |
126.494 |
75.457 |
|
(c) Other long term
liabilities |
0.238 |
0.138 |
0.641 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
223.607 |
126.632 |
76.098 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
320.311 |
583.228 |
141.070 |
|
(b) Trade payables |
1582.267 |
1534.286 |
1051.014 |
|
(c) Other current
liabilities |
170.410 |
115.731 |
198.678 |
|
(d) Short-term provisions |
49.442 |
56.949 |
60.982 |
|
Total Current Liabilities
(4) |
2122.430 |
2290.194 |
1451.744 |
|
|
|
|
|
|
TOTAL |
4676.211 |
4736.976 |
3628.244 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
876.985 |
830.134 |
717.237 |
|
(ii) Intangible Assets |
0.604 |
0.731 |
0.858 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
12.231 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
161.377 |
161.104 |
161.365 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
72.596 |
66.714 |
69.792 |
|
(e) Other Non-current
assets |
100.017 |
53.372 |
49.045 |
|
Total Non-Current Assets |
1211.579 |
1112.055 |
1010.528 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
697.792 |
1117.764 |
733.316 |
|
(c) Trade receivables |
2568.582 |
2279.617 |
1712.953 |
|
(d) Cash and cash
equivalents |
10.003 |
75.956 |
8.473 |
|
(e) Short-term loans and
advances |
23.435 |
9.981 |
21.826 |
|
(f) Other current assets |
164.820 |
141.603 |
141.148 |
|
Total Current Assets |
3464.632 |
3624.921 |
2617.716 |
|
|
|
|
|
|
TOTAL |
4676.211 |
4736.976 |
3628.244 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
6630.299 |
6328.135 |
5053.722 |
|
|
Other Income |
52.361 |
43.107 |
31.247 |
|
|
TOTAL |
6682.660 |
6371.242 |
5084.969 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5931.592 |
5380.437 |
4114.994 |
|
|
Purchases of
Stock-in-Trade |
14.402 |
16.826 |
8.026 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(51.954) |
(96.351 |
(6.959) |
|
|
Employees benefits
expense |
233.693 |
184.282 |
163.980 |
|
|
Other expenses |
387.049 |
355.194 |
350.351 |
|
|
Exceptional
items |
(32.966) |
43.468 |
21.481 |
|
|
CSR expenditure |
0.970 |
0.000 |
0.000 |
|
|
TOTAL |
6482.786 |
5883.856 |
4651.873 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
199.874 |
487.386 |
433.096 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
111.405 |
56.866 |
52.003 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
88.469 |
430.520 |
381.093 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
|
70.202 |
61.983 |
54.691 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
18.267 |
368.537 |
326.402 |
|
|
|
|
|
|
|
Less |
TAX |
8.243 |
127.476 |
106.999 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
10.024 |
241.061 |
219.403 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1164.422 |
2279.751 |
1875.446 |
|
|
TOTAL EARNINGS |
1164.422 |
2279.751 |
1875.446 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3860.639 |
4789.465 |
0.036 |
|
|
Components and Stores
parts |
1.472 |
0.957 |
1.351 |
|
|
Capital Goods |
76.422 |
16.826 |
8.026 |
|
|
TOTAL IMPORTS |
3938.533 |
4807.248 |
9.413 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.13 |
27.23 |
24.78 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
49.479 |
397.349 |
(81.002) |
|
Net cash flows from (used in) operating activities |
30.143 |
412.273 |
(4767.064) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
141.40 |
131.49 |
123.72 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.58 |
2.78 |
2.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
97.13 |
103.76 |
93.04 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.29 |
0.44 |
0.59 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.23 |
0.59 |
0.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.47 |
0.48 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.18 |
0.25 |
0.07 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.91 |
0.99 |
0.69 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.38 |
0.36 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.79 |
8.57 |
8.33 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
0.15 |
3.81 |
4.34 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.21 |
5.09 |
6.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
0.43 |
10.39 |
10.45 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.63 |
1.58 |
1.80 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.30 |
1.09 |
1.30 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.50 |
0.49 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.63 |
6.59 |
1.59 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.63 |
1.58 |
1.80 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
88.542 |
88.542 |
88.542 |
|
Reserves & Surplus |
2011.860 |
2231.608 |
2241.632 |
|
Net
worth |
2100.402 |
2320.150 |
2330.174 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
90.000 |
|
Short Term borrowings |
141.070 |
583.228 |
320.311 |
|
Total
borrowings |
141.070 |
583.228 |
410.311 |
|
Debt/Equity
ratio |
0.067 |
0.251 |
0.176 |
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
|
5053.722 |
6328.135 |
6630.299 |
|
|
|
25.217 |
4.775 |
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
|
5053.722 |
6328.135 |
6630.299 |
|
Profit |
219.403 |
241.061 |
10.024 |
|
|
4.34% |
3.81% |
0.15% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
88.542 |
88.542 |
|
(b) Reserves &
Surplus |
|
2251.089 |
2231.696 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
0.000 |
(0.593) |
|
Total Shareholders’ Funds
(1) + (2) |
|
2339.631 |
2319.645 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
90.000 |
0.173 |
|
(b) Deferred tax
liabilities (Net) |
|
133.332 |
126.733 |
|
(c) Other long term
liabilities |
|
0.238 |
0.138 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
223.570 |
127.044 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
365.909 |
621.944 |
|
(b) Trade payables |
|
1630.190 |
1540.936 |
|
(c) Other current
liabilities |
|
171.174 |
117.036 |
|
(d) Short-term provisions |
|
50.947 |
57.591 |
|
Total Current Liabilities
(4) |
|
2218.220 |
2337.507 |
|
|
|
|
|
|
TOTAL |
|
4781.421 |
4784.196 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
894.884 |
849.675 |
|
(ii) Intangible Assets |
|
0.604 |
0.731 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
125.686 |
117.070 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
100.017 |
53.528 |
|
Total Non-Current Assets |
|
1121.191 |
1021.004 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.050 |
0.050 |
|
(b) Inventories |
|
727.388 |
1135.196 |
|
(c) Trade receivables |
|
2702.420 |
2355.473 |
|
(d) Cash and cash
equivalents |
|
10.500 |
119.199 |
|
(e) Short-term loans and
advances |
|
23.434 |
10.682 |
|
(f) Other current assets |
|
196.438 |
142.592 |
|
Total Current Assets |
|
3660.230 |
3763.192 |
|
|
|
|
|
|
TOTAL |
|
4781.421 |
4784.196 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
6752.471 |
6520.873 |
|
|
Other Income |
|
50.032 |
39.612 |
|
|
TOTAL |
|
6802.503 |
6560.485 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
6012.506 |
5503.757 |
|
|
Purchases of
Stock-in-Trade |
|
14.402 |
16.826 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(47.509) |
(76.024) |
|
|
Employees benefits
expense |
|
237.562 |
190.820 |
|
|
Exceptional items |
|
(32.966 |
43.469 |
|
|
Extraordinary items
before tax |
|
(1.959) |
0.000 |
|
|
Other expenses |
|
410.101 |
382.788 |
|
|
TOTAL |
|
6592.137 |
6061.636 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
210.366 |
498.849 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
116.562 |
62.569 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
93.804 |
436.280 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
72.881 |
65.540 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
20.923 |
370.740 |
|
|
|
|
|
|
|
Less |
TAX |
|
8.566 |
128.229 |
|
Add |
Share of profit of
associates |
|
7.750 |
(15.944) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
20.107 |
226.567 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
2.27 |
25.59 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered office of the company has been
shifted from 101, Classic Corner, 113 Hill Road, Off St Andrews Road, Bandra (West),
Mumbai-400050, Maharashtra, India to the
present address w.e.f. 01.11.2008.
GENERAL INFORMATION
The company is established in 1991 is India’s first ISO 9001:2000 Certified facility for manufacturing of Transformer Laminations, Slings, and Government recognized Star Export House. KRYFS is India’s largest CRGO Transformer Core solution company. Commencing production in December 1992 from a humble beginning at Palghar with capacity of 100 MTPA KRYFS has become India’s largest importer and processor of Prime CRGO steel from Japan, USA, Europe, and Korea.
KRYFS has won several awards for outstanding export performance from EEPC. KRYFS exports to 33 countries around the globe. Toyota Tsusho Corporation, Japan a US $77.9 billion conglomerate has chosen to acquire a strategic stake of 20% in KRYFS making it the only lamination company in the world to have the backing of a multinational giant.
KRYFS is India’s leading manufacturer of Star Rating Transformers with a state of the art manufacturing unit at DNH, a sales tax exempted zone, 140km north of Mumbai.
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR / STATE OF THE COMPANY’S AFFAIRS
For the year ended 31st March 2017, the Company earned total Net Income from Operations of INR 6630.299 Million (Gross Income of INR 6682.660 Million) as compared to previous year INR 6328.135 Million (Gross income INR 6371.242 Million). The Profit before Taxes was INR 18.267 Million as compared to previous year INR 368.537 Million.
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G42531699 |
100093997 |
ICICI BANK LIMITED |
09/02/2017 |
- |
- |
250000000.0 |
ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN |
|
2 |
G02179794 |
100022334 |
Citi Bank N.A. |
29/03/2016 |
- |
- |
100000000.0 |
First International Financial Centre, 9th Floor,Plot No. C-54 & 55, G-Block, BKC, Bandra (E)MumbaiMH400051IN |
|
3 |
C78536828 |
10567416 |
State Bank of India |
08/01/2015 |
09/12/2015 |
- |
137500000.0 |
1ST FLOOR , PRIME COMPLEX,1ST FLOOR , RPIME COMPLEX,VADODARAGJ390011IN |
|
4 |
C44033645 |
10040414 |
Bank of India |
25/01/2007 |
23/01/2015 |
- |
2500000000.0 |
MLC BRANCH, ORIENTAL BLDG, GROUND FLOOR,364, D.N. ROAD, MUMBAIMUMBAIMH400001IN |
|
5 |
Y10252363 |
90152593 |
BANK OF INDIA |
24/08/2001 |
25/01/2007 |
- |
855000000.0 |
MUMBAI LARGE CORPORATE BRANCH, BANK OF INDIA BLDG.70/80, M. G. ROAD,MUMBAIMH400023IN |
|
6 |
Y10253125 |
90153355 |
BANK OF INDIA |
14/03/1997 |
20/02/2004 |
- |
62000000.0 |
MUMBAI CORPORATE BANKING BRANCHBANK OF INDIA BLDG.; 4TH FLR 70/80 M.G. ROAD; FORTMUMBAIMH400023IN |
|
7 |
A10076438 |
90152500 |
BANK OF INDIA |
11/03/1997 |
25/01/2007 |
- |
855000000.0 |
MUMBAI LARGE CORPORATE BRANCH, BANK OF INDIA BLDG.70/80, M. G. ROAD,MUMBAIMH400023IN |
|
8 |
Y10253122 |
90153352 |
BANK OF INDIA |
04/03/1997 |
18/01/1999 |
- |
62000000.0 |
MUMBAI CORPORATE BANKING BRANCH70/80; M.G. ROAD; FORTMUMBAIMH400023IN |
|
9 |
Y10252759 |
90152989 |
BOMBAY MERCANTILE CO-OP. BANK LTD. |
08/02/1994 |
- |
- |
288000.0 |
MAULANA AZAD ROAD BRANCHBOMBAYMH400008IN |
|
10 |
Y10252265 |
90152495 |
MAHARASHTRA STATE FINANCIAL CORPORATION |
16/01/1997 |
- |
25/05/2001 |
0.0 |
NEW EXCELSIOR BUILDING; 5TH; 7TH; 8TH & 9TH FLOORSAMRIT KESHAV NAYAK MARGBOMBAYMH400001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against company not acknowledged as debt |
0.000 |
9.575 |
|
Guarantees |
767.747 |
455.758 |
|
Other money for which company is contingently liable |
896.207 |
643.941 |
|
Total |
1663.954 |
1109.274 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.