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MIRA INFORM REPORT
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Report No. : |
495745 |
|
Report Date : |
07.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
FINOLEX INDUSTRIES LIMITED |
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|
|
|
Registered
Office : |
Gate No.399, Village Urse, Taluka Maval, District: Pune – 410506,
Maharashtra |
|
Tel. No.: |
91-2114-237251 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
28.03.1981 |
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Com. Reg. No.: |
11-024153 |
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Capital
Investment / Paid-up Capital : |
INR 1240.954 Million |
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|
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CIN No.: [Company Identification
No.] |
L40108PN1981PLC024153 |
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|
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IEC No.: |
0388003812 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACF2634A |
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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 engaged in the business of manufacturing
PVC pipes and fittings, manufacturing of PVC resin and power generation.
(Registered Activity ) |
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|
|
|
No. of Employees
: |
1221 (Approximately) |
|
MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1981 and it is having good track records. For the financial year 2017, the company has increased its revenue from operations as compared to previous year and maintained decent profitability margin of 11.78%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also reflects from its established market position in domestic PVC resin and PVC pipes segment and improvement in the revenue as well as profitability profile during the year. However, rating strength is partially offset by susceptibility to volatility in raw material prices. Trade relations are reported as fair. Business is active. Payment terms are seems to be regular. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. (Note- the company has been found under Defaulters list and has defaulted with Deutsche Bank (31-3-2017) and Standard Chartered Bank (31-3-2014) However, update for the same is not available.) |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating= AA |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
29.03.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating= A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
29.03.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same areas under:
Suit-filed accounts
of INR 10.000 Million and above as on 05.03.2018
|
BANK |
BRANCH |
QUARTER |
BORROWER NAME |
REGISTERED
ADDRESS |
DIRECTOR
NAME—DIN NO. DETAIL |
OUTSTANDING
AMOUNT (INR IN MILLION) |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
31-03-10 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
PRAKASH P. CHHABRIA--NA,
K.P. CHHABRIA--NA, S.S. DHANORKAR--NA, P. SUBRAMANIAM--NA |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
30-06-10 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
K.P. CHHABRIA--NA,
P. SUBRAMANIAM--NA, PRAKASH P. CHHABRIA--NA, S.S. DHANORKAR--NA |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
30-09-10 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
PRAKASH P. CHHABRIA--NA,
K.P. CHHABRIA--NA, S.S. DHANORKAR--NA, P. SUBRAMANIAM--NA |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
31-12-10 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
K.P. CHHABRIA--NA,
S.S. DHANORKAR--NA, PRAKASH P. CHHABRIA--NA, P. SUBRAMANIAM--NA |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
31-03-11 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
P.
SUBRAMANIAM--0, S.S. DHANORKAR--0, PRAKASH P. CHHABRIA--0, K.P. CHHABRIA--0 |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
30-06-11 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
K.P. CHHABRIA--0,
PRAKASH P. CHHABRIA--0, S.S. DHANORKAR--0, P. SUBRAMANIAM--0 |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
30-09-11 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
PRAKASH P.
CHHABRIA--0, K.P. CHHABRIA--0, S.S. DHANORKAR--0, P. SUBRAMANIAM--0 |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
31-12-11 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
P.
SUBRAMANIAM--0, K.P. CHHABRIA--0, S.S. DHANORKAR--0, PRAKASH P. CHHABRIA--0 |
9,343.00 |
|
DEUTSCHE BANK |
FORT BRANCH,
MUMBAI |
31-03-15 |
FINOLEX
INDUSTRIES LIMITED |
D-1/10, MIDC,
CHINCHWAD, PUNE 411019 |
K.P.
CHHABRIA--NA, PRAKASH P. CHHABRIA--NA, S.S. DHANORKAR--NA, P. SUBRAMANIAM--NA |
9,343.00 |
|
STANDARD
CHARTERED BANK |
PUNE |
31-03-14 |
FINOLEX
INDUSTRIES LIMITED |
GAT NO.399, VILLAGE
URSE, TALUKA MAVAL, PUNE - 410506 |
KANAIYALAL
NARAINDAS ATMARAMANI--0, SANJAY KHATAU ASHER--0, SAURABH SARVOTTAM
DHANORKAR--0, PRAKASH PRALHAD CHHABRIA--0, PRABHAKAR DATTATRAYA
KARANDIKAR--0, SANJAY SHANKAR MATH--0, DARA NADIRSHAW DAMANIA--0, SHRIKRISHNA
NARHAR INAMDAR--0, SUNIL UMAKANT PATHAK--0 |
5,402.00 |
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 07.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non Co-Operative (91-2114-237251)
LOCATIONS
|
Registered Office : |
Gate No.399, Village Urse, Taluka Maval, District: Pune – 410506,
Maharashtra, India |
|
Tel. No.: |
91-2114-237251 |
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Fax No.: |
91-2114-237252 |
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E-Mail : |
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|
Website : |
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Factory 2 : |
Pawas Road, Pawas, Ratnagiri – 415612, Maharashtra, India |
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Tel. No.: |
91-2352-238027 / 28 / 29 / 30 / 31 |
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Fax No.: |
91-2352-238033 / 238045 |
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E-Mail : |
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Factory 3 : |
D-1/10, MIDC, Chinchwad, Pune – 411019, Maharashtra, India |
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Tel. No.: |
91-20-27443706 |
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Fax No.: |
Not Available |
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Branch office: |
Located at ·
Ahmedabad ·
Bangalore ·
Chennai ·
Cochin ·
Indore ·
Mumbai ·
New Delhi ·
Kolkata ·
Secunderabad ·
Coimbatore |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sanjay Shankar Math |
|
Designation : |
Managing Director |
|
Address : |
A 2, Finolex Colony, Zadgaon Block-Partavane, Ratnagiri - 415612 ,Maharashtra, India |
|
Date of Appointment : |
04.02.2012 |
|
DIN No.: |
01874086 |
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|
Name : |
Mr. Saurabh Sarvottam Dhanorkar |
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Designation : |
Managing Director |
|
Address : |
A/9, Kapil Malhar Baner Road, Pune – 411045, Maharashtra,
India |
|
Date of Appointment : |
01.12.1996 |
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DIN No.: |
00011322 |
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|
Name : |
Mr. Prakash Pralhad Chhabria |
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Designation : |
Whole Time Director |
|
Address : |
9 ICS Colony, Ganesh Khind Road, Pune – 411007, Maharashtra, India |
|
Date of Appointment : |
13.03.1992 |
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DIN No.: |
00016017 |
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Name : |
Mr. Anil Vithaldas Whabi |
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Designation : |
Whole-time Director |
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Address : |
Krishna Kunj, P.No.41, Parkland, Behind Neco Garden, Viman Nagar, Pune – 411014, Maharashtra, India |
|
Date of Appointment : |
26.08.2016 |
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DIN No.: |
00142052 |
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Name : |
Mr. Sanjay Khatau Asher |
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Designation : |
Director |
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Address : |
32, Mody Street Fort, Mumbai – 400001, Maharashtra, India |
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Date of Appointment : |
04.02.2012 |
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DIN No.: |
00008221 |
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|
Name : |
Mr. Shrikrishna Narhar Inamdar |
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Designation : |
Director |
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Address : |
2 A Ameya Apts.,1193-B Kashinath Dhuru Road, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
Date of Appointment : |
22.03.1989 |
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DIN No.: |
00025180 |
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Name : |
Mr. Sunil Umakant Pathak |
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Designation : |
Director |
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Address : |
E - 3/5, Shirin Garden, Opposite ITI, D P Road, Aundh, Pune – 411007, Maharashtra, India |
|
Date of Appointment : |
21.10.2008 |
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DIN No.: |
00049315 |
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Name : |
Mrs. Ritu Prakash Chhabria |
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Designation : |
Director |
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Address : |
9 ICS Colony, Ganesh Khind Road, Pune – 411007, Maharashtra, India |
|
Date of Appointment : |
21.03.2015 |
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DIN No.: |
00062144 |
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|
Name : |
Kanaiyalal Naraindas Atmaramani |
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Designation : |
Director |
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Address : |
Flat No. 106, Ashirwad Building 2, Off. J.P. Road, Seven Bungalows, Mumbai - 400065 Maharashtra, India |
|
Date of Appointment : |
27.07.2002 |
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DIN No.: |
00129768 |
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Name : |
Mr. Dara Nadirshaw Damania |
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Designation : |
Director |
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Address : |
11 Abbas Road, 11 G.G Thakkar Road, Pune – 411001, Maharashtra, India |
|
Date of Appointment : |
29.07.2011 |
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DIN No.: |
00403834 |
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|
Name : |
Mr. Prabhakar Dattatraya Karandikar |
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Designation : |
Director |
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Address : |
705, Saptagiri Apartments, Near Dhanakude Vasti Baner, Pune – 411045, Maharashtra, India |
|
Date of Appointment : |
27.06.2009 |
|
DIN No.: |
02142050 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Vithaldas Whabi |
|
Designation : |
Chief Financial Officer |
|
Address : |
Krishna Kunj, Plot No.41 Park, Land Society Behind Neco
Garden, Vimanna Gar, Pune – 411014, Maharashtra, India |
|
Date of Appointment : |
11.08.2014 |
|
PAN No.: |
AACPW5542P |
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Audit Committee : |
· Mr. Shrikrishna N. Inamdar, Chairman · Mr. Kanaiyalal N. Atmaramani · Mr. Dara N. Damania · Mr. Prabhakar D. Karandikar · Dr. Sunil U. Pathak |
|
|
|
|
Stakeholders’
Relationship Committee : |
· Mr. Kanaiyalal N. Atmaramani, Chairman · Mr. Prakash P. Chhabria · Mr. Dara N. Damania · Mr. Shrikrishna N. Inamdar · Mr. Prabhakar D. Karandikar · Dr. Sunil U. Pathak |
|
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Nomination and
Remuneration Committee : |
· Mr. Shrikrishna N. Inamdar, Chairman · Mr. Sanjay K. Asher · Mr. Kanaiyalal N. Atmaramani · Mr. Dara N. Damania · Mr. Prabhakar D. Karandikar · Dr. Sunil U. Pathak |
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Corporate Social
Responsibility Committee : |
· Mr. Prakash P. Chhabria, Chairman · Mr. Saurabh S. Dhanorkar · Dr. Sunil U. Pathak |
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|
|
|
Risk Management
Committee : |
· Mr. Prakash P. Chhabria, Chairman · Mr. Saurabh S. Dhanorkar · Dr. Sunil U. Pathak |
SHAREHOLDING PATTERN
AS ON DECEMBER 2017
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
(A) Promoter & Promoter Group |
6,51,13,697 |
52.47 |
|
|
(B) Public |
5,85,49,084 |
47.18 |
|
|
(C2) Shares held by Employee Trust |
4,32,600 |
0.35 |
|
|
(C) Non Promoter-Non Public |
4,32,600 |
0.35 |
|
|
Grand Total |
12,40,95,381 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
13,76,249 |
1.11 |
|
|
Amit M Katara |
40,632 |
0.03 |
|
|
Amrita Mukesh Katara |
42,075 |
0.03 |
|
|
Katara Aruna Mukesh |
2,57,720 |
0.21 |
|
|
Katara Mukesh Dolumal |
26,530 |
0.02 |
|
|
Deepak Kishan Chhabria |
80,921 |
0.07 |
|
|
Kavita Sanjay Raheja |
92,879 |
0.07 |
|
|
Kishan Parsram Chhabria |
1,70,542 |
0.14 |
|
|
Priya Vijaya Chhabria |
60,200 |
0.05 |
|
|
Rishi Vijay Chhabria |
1,350 |
0.00 |
|
|
Sunita Kishan Chhabria |
1,53,592 |
0.12 |
|
|
Vijay Kishan Chhabria |
1,06,350 |
0.09 |
|
|
Vini Deepak Chhabria |
26,400 |
0.02 |
|
|
Prakash P Chhabria |
1,70,749 |
0.14 |
|
|
Pralhad Parsram
Chhabria |
59 |
0.00 |
|
|
Ritu Prakash
Chhabria |
4,450 |
0.00 |
STATEMENT SHOWING SHAREHOLDING
PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
No. of fully paid
up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
||
|
B1) Institutions |
0 |
|
|
Mutual Funds/ |
10267811 |
1,02,67,811 |
|
Franklin India Smaller Companies Fund and Franklin Templeton Mutual Fund A/c Frankin India Prima Plus |
2782743 |
27,82,743 |
|
DSP Blackrock Micro Cap Fund and others |
4934183 |
49,34,183 |
|
SBI EMERGING BUSINESSES FUND and other |
1314963 |
13,14,963 |
|
Alternate Investment Funds |
638844 |
6,38,844 |
|
Foreign Portfolio Investors |
5370892 |
53,70,892 |
|
Financial Institutions/ Banks |
39016 |
39,016 |
|
Insurance Companies |
400 |
400 |
|
Sub Total B1 |
16316963 |
1,63,16,963 |
|
B2) Central Government/ State Government(s)/ President of India |
0 |
|
|
B3)
Non-Institutions |
0 |
|
|
Individual share
capital upto INR 0.200 Million |
22496540 |
2,24,96,540 |
|
Individual share capital
in excess of INR 0.200 Million |
10892932 |
1,08,92,932 |
|
Anuj Anantrai Sheth |
3844000 |
38,44,000 |
|
Hiten Anantrai Sheth |
1500000 |
15,00,000 |
|
Any Other (specify) |
8842649 |
88,42,649 |
|
Gagandeep Credit
Capital Private Limited |
1389500 |
13,89,500 |
|
Prescient
Securities Private Limited |
1445319 |
14,45,319 |
|
Sub Total B3 |
42232121 |
4,22,32,121 |
|
B=B1+B2+B3 |
58549084 |
5,85,49,084 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacturing PVC
pipes and fittings, manufacturing of PVC resin and power generation.
(Registered Activity ) |
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Products / Services
: |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
1221 (Approximately) |
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Bankers : |
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Facilities : |
Notes: Details of terms of
borrowings and security for the borrowings The aggregate limits of working capital borrowings of INR 13957.500 Million (INR 13957.500 Million as at March 31, 2016 and INR 13957.500 Million as at March 31, 2015) from the Bank of India Consortium together with all interest, liquidated damages, costs, charges and other moneys payable under working capital consortium agreement/sanction letters are secured by: 1) Hypothecation of inventories and book debts; and 2) Extension of second equitable mortgage, created in
favour of Bank of India Consortium on pari passu basis with other second
charge holder by deposit of title deeds with Axis Bank Limited (ABL), New
Delhi. ABL acting as an agent for Bank of India Consortium, which ranks
subsequent and subservient in rank of priority over the first equitable
mortgages created by deposit of title deeds in respect of immoveable
properties falling within the battery limit of the site of the Company’s
plant for manufacture of PVC Resin, situated at Village Golap, District Ratnagiri
in the State of Maharashtra together with all buildings and structures
thereon and all plant and machinery attached to the earth or permanently
fastened to anything attached to the earth. |
|
Auditors : |
|
|
Name : |
P. G. Bhagwat Chartered Accountants |
|
Address : |
Pune, Maharashtra, India |
|
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|
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Solicitors and Advocates: |
|
|
Name : |
Crawford Bayley and Company |
|
Address : |
Mumbai, Maharashtra, India |
|
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Memberships : |
Not Available |
|
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Collaborators : |
Not Available |
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Associate Company: |
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Enterprise wherein
the Company is an Associate: |
Finolex Cables Limited holding 32.39 % in the Company |
|
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|
Enterprises over which
Key Management Personnel or their relatives exercise significant influence: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000,000 |
Equity Shares |
INR 10/- each |
INR 1500.000 Million |
|
85,000,000 |
Unclassified Share
Capital |
INR 10/- each |
INR 850.000 Million |
|
|
Total |
|
INR 2350.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
124,095,381 |
Equity Shares |
INR 10/- each |
INR 1240.954 Million |
|
|
|
|
|
Terms/ Rights
attached to equity shares:
The Company has only class of equity shares having a par value of INR 10 per share. Each holder of the equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company, the holders of equity shares are 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.
Details of
shareholders holding more than 5% shares in the company:
|
|
31.03.2017 |
|
|
Details of
shareholders holding more than 5% shares in the company: |
No.
of Shares |
%
of Holding |
|
Equity shares of INR 10 each
fully paid |
|
|
|
Finolex Cables Limited |
40192597 |
32.39% |
|
Orbit Electricals Private Limited |
23318901 |
18.80% |
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 |
1240.954 |
1240.954 |
1240.954 |
|
(b) Reserves &
Surplus |
21672.971 |
14457.541 |
6633.045 |
|
(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) |
22913.925 |
15698.495 |
7873.999 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1836.580 |
|
(b) Deferred tax
liabilities (Net) |
1316.107 |
1276.079 |
1107.775 |
|
(c) Other long term
liabilities |
616.952 |
531.495 |
3.901 |
|
(d) long-term provisions |
111.463 |
112.170 |
86.412 |
|
Total Non-current
Liabilities (3) |
2044.522 |
1919.744 |
3034.668 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
941.847 |
1117.120 |
4034.014 |
|
(b) Trade payables |
2274.786 |
2431.875 |
2000.010 |
|
(c) Other current
liabilities |
1338.014 |
2308.425 |
1341.716 |
|
(d) Short-term provisions |
12.306 |
10.941 |
307.066 |
|
Total Current Liabilities
(4) |
4566.953 |
5868.361 |
7682.806 |
|
|
|
|
|
|
TOTAL |
29525.400 |
23486.600 |
18591.473 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8516.625 |
8469.798 |
8648.532 |
|
(ii) Intangible Assets |
34.656 |
26.662 |
29.124 |
|
(iii) Capital
work-in-progress |
217.485 |
66.155 |
103.974 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11656.086 |
6484.992 |
1246.109 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.126 |
0.045 |
588.050 |
|
(e) Other Non-current
assets |
1342.852 |
768.656 |
0.000 |
|
Total Non-Current Assets |
21767.830 |
15816.308 |
10615.789 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
565.579 |
1687.089 |
550.500 |
|
(b) Inventories |
5574.003 |
4472.223 |
5586.510 |
|
(c) Trade receivables |
524.929 |
176.293 |
487.044 |
|
(d) Cash and cash
equivalents |
163.444 |
104.116 |
123.002 |
|
(e) Short-term loans and
advances |
1.876 |
1228.285 |
1228.628 |
|
(f) Other current assets |
927.739 |
2.286 |
0.000 |
|
Total Current Assets |
7757.570 |
7670.292 |
7975.684 |
|
|
|
|
|
|
TOTAL |
29525.400 |
23486.600 |
18591.473 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
29876.371 |
28431.239 |
24761.493 |
|
|
Other Income |
243.380 |
396.402 |
202.358 |
|
|
TOTAL |
30119.751 |
28827.641 |
24,963.851 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
20537.442 |
19755.240 |
17790.748 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(589.069) |
333.779 |
538.492 |
|
|
Employees benefits
expense |
1048.924 |
924.989 |
739.687 |
|
|
Other expenses |
3248.902 |
3372.860 |
3581.707 |
|
|
Exceptional
items |
0.000 |
(244.779) |
214.959 |
|
|
TOTAL |
24246.199 |
24142.089 |
22865.593 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
5873.552 |
4685.552 |
2098.258 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
153.447 |
447.097 |
703.71 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
5720.105 |
4238.455 |
1394.548 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
550.462 |
505.736 |
586.742 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5169.643 |
3732.719 |
807.806 |
|
|
|
|
|
|
|
Less |
TAX |
1647.848 |
1188.650 |
330.023 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
3521.795 |
2544.069 |
477.783 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
NA |
0.000 |
|
|
TOTAL EARNINGS |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials (inclusive of
high seas purchases) |
NA |
NA |
15320.907 |
|
|
Stores, spares and components |
NA |
NA |
22.78 |
|
|
Capital goods |
NA |
NA |
9.243 |
|
|
TOTAL IMPORTS |
NA |
NA |
15352.930 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
28.38 |
20.50 |
3.85 |
|
|
Diluted |
28.38 |
20.50 |
3.85 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
Debentures |
|
|
|
|
Term loans from banks |
|
|
500.000 |
|
Interest accrued but not due on loans |
|
|
46.949 |
|
Unclaimed dividend |
|
|
80.717 |
|
TOTAL |
0.000 |
998.331 |
627.666 |
|
Cash generated from operations |
NA |
NA |
2513.749 |
|
Net cash flows from operating activities |
2341.542 |
5690.044 |
2122.011 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2st
Quarter |
3st
Quarter |
|
Net sales |
8242.750 |
4752.830 |
7227.240 |
|
Total Expenditure |
6936.390 |
4256.890 |
6093.930 |
|
PBIDT (Excluding Other Income) |
1306.360 |
495.940 |
1133.310 |
|
Other income |
38.430 |
109.230 |
102.530 |
|
Operating Profit |
1344.790 |
605.170 |
1235.840 |
|
Interest |
29.850 |
38.250 |
-3.590 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
1314.940 |
566.920 |
1239.430 |
|
Depreciation |
145.050 |
151.330 |
153.680 |
|
Profit Before Tax |
1169.890 |
415.590 |
1085.750 |
|
Tax |
372.240 |
132.750 |
390.250 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
797.650 |
282.840 |
695.500 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
797.650 |
282.840 |
695.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
6.41 |
2.26 |
7.18 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
56.92 |
161.27 |
50.84 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
40.43 |
44.93 |
41.03 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.05 |
1.05 |
0.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.67 |
0.55 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.15 |
0.29 |
0.55 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.04 |
0.13 |
0.83 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.20 |
0.37 |
0.98 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.38 |
0.55 |
1.12 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
38.28 |
10.48 |
2.98 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
11.79 |
8.95 |
1.93 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.93 |
10.83 |
2.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.37 |
16.21 |
6.07 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.70 |
1.31 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.48 |
0.54 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.78 |
0.67 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.76 |
1.70 |
5.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.70 |
1.31 |
1.04 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00 |
|
Market Value |
INR 205.20 |
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 |
1240.954 |
1240.954 |
1240.954 |
|
Reserves & Surplus |
6633.045 |
14457.541 |
21672.971 |
|
Net
worth |
7873.999 |
15698.495 |
22913.925 |
|
|
|
|
|
|
Long-Term Borrowings |
1836.580 |
0.000 |
0.000 |
|
Short Term Borrowings |
4034.014 |
1117.120 |
941.847 |
|
Current Maturities of Long term debt |
627.666 |
998.331 |
0.000 |
|
Total
borrowings |
6498.260 |
2115.451 |
941.847 |
|
Debt/Equity
ratio |
0.825 |
0.135 |
0.041 |
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 |
24761.493 |
28431.239 |
29876.371 |
|
|
|
14.820 |
5.083 |
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
|
24761.493 |
28431.239 |
29876.371 |
|
Profit |
477.783 |
2544.069 |
3521.795 |
|
|
1.93% |
8.95% |
11.79% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1240.954 |
1240.954 |
|
(b) Reserves &
Surplus |
|
21906.753 |
14664.063 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
23147.707 |
15905.017 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
1496.487 |
1436.332 |
|
(c) Other long term
liabilities |
|
616.952 |
531.495 |
|
(d) long-term provisions |
|
111.463 |
112.170 |
|
Total Non-current
Liabilities (3) |
|
2224.902 |
2079.997 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
941.847 |
1117.120 |
|
(b) Trade payables |
|
2274.786 |
2431.875 |
|
(c) Other current
liabilities |
|
1338.014 |
2308.425 |
|
(d) Short-term provisions |
|
12.306 |
10.941 |
|
Total Current Liabilities
(4) |
|
4566.953 |
5868.361 |
|
|
|
|
|
|
TOTAL |
|
29939.562 |
23853.375 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
8516.624 |
8469.797 |
|
(ii) Intangible Assets |
|
34.656 |
26.662 |
|
(iii) Capital
work-in-progress |
|
217.485 |
66.155 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
12070.249 |
6851.768 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.126 |
0.045 |
|
(e) Other Non-current
assets |
|
1342.852 |
768.656 |
|
Total Non-Current Assets |
|
22181.992 |
16183.083 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
565.579 |
1687.089 |
|
(b) Inventories |
|
5574.003 |
4472.223 |
|
(c) Trade receivables |
|
524.929 |
176.293 |
|
(d) Cash and cash
equivalents |
|
163.444 |
104.116 |
|
(e) Short-term loans and
advances |
|
1.876 |
2.286 |
|
(f) Other current assets |
|
927.739 |
1228.285 |
|
Total Current Assets |
|
7757.570 |
7670.292 |
|
|
|
|
|
|
TOTAL |
|
29939.562 |
23853.375 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
SALES |
|
|
|
|
Income |
|
29876.371 |
28431.239 |
|
Other Income |
|
231.792 |
387.132 |
|
TOTAL |
|
30108.163 |
28818.371 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
|
20537.442 |
19755.240 |
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(589.069) |
333.779 |
|
Employees benefits
expense |
|
1048.924 |
924.989 |
|
Other expenses |
|
3248.902 |
3372.860 |
|
Share of (profit)/loss of
an associate |
|
(93.242) |
(104.855) |
|
Exceptional Items |
|
0.000 |
(244.779) |
|
TOTAL |
|
24152.957 |
24037.234 |
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
5955.206 |
4781.137 |
|
|
|
|
|
|
FINANCIAL EXPENSES |
|
153.447 |
447.097 |
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
|
5801.759 |
4334.040 |
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
550.462 |
505.737 |
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
5251.297 |
3828.303 |
|
|
|
|
|
|
TAX |
|
1702.824 |
1250.586 |
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
3548.473 |
2577.717 |
|
|
|
|
|
|
Other Comprehensive
Income |
|
5187.853 |
(99.055) |
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
Basic |
|
28.59 |
20.77 |
|
Diluted |
|
28.59 |
20.77 |
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 |
CORPORATE INFORMATION
The is a company incorporated and domiciled in India and its equity shares are listed on Bombay Stock Exchange and National Stock Exchange. Its registered office is situated at Gat No.399, Village Urse, Taluka Maval, District Pune, India. The company is engaged in the business of manufacturing PVC pipes & fittings, manufacturing of PVC resin and power generation. The financial statements were authorized for issue in accordance with a resolution of the Board of Directors on May 26, 2017.
PERFORMANCE
Financial
performance
In 2016-17, the revenue from operations of the Company increased by 5.08% from INR 28431.000 Million in 2015-16 to INR 29876.000 Million PAT in absolute terms grew by 38.44% to INR 3522.000 Million. This growth in margin was primarily driven by an increased EDC/ PVC price spread. During the year, we also worked assiduously in reducing debt, leading to a reduction of 65.77% in finance cost to INR 153.000 Million from INR 447.000 Million in the previous year. This, in turn, increased our margins.
Awards & Accolades
· 2017 - The Supply Chain Enterprise Icon of the Year by Global Logistics Excellence Awards 2016 - Water Company of the Year Award by the National CSR Leadership Congress & Awards
· 2016 - The National Record certificate from The Limca Book of Records for conducting the largest number of plumber meets organized simultaneously across 26 states and 58 cities with a presence of 3,000 plumbers
· 2016 - Blue Dart Global CSR Excellence and Leadership Award for Support & Improvement in Quality of Education
· 2016 - Best Innovative CSR Practices Award in Education at the India CSR Awards
· 2015 - Top 100 Brands Award in the Architecture & Design sector by The Economic Times
· 2015 - India’s most Trusted Brand in the category Manufacturing – Pipes awarded by Brand Trust Report
· 2015 - Best Safety Practices Award by National Safety Council, Maharashtra Chapter & Directorate of Industrial Safety & Health, Maharashtra State
· 2014 - Asia’s 100 Best Marketing Brands by the WCRC Leaders Asia magazine
· 2014 - Honoured by the World Economic Forum (WEF) as amongst the Global Growth Companies – 2014 in South Asia
· 2014 - Green Manufacturing Excellence Award: Certificate of Merit, Believers category from Frost & Sullivan
MANAGEMENT DISCUSSION
AND ANALYSIS
Indian Economy
India is the fastest-growing G20 economy with expected growth of around 7.4% in FY18 against 7% in FY17. The acceleration of structural reforms, the move towards a rulebasedpolicy framework and low commodity prices have provided a strong growth impetus. Recent deregulation measures and efforts to improve the ease of doing business have boosted foreign investment. A comprehensive tax reform would promote inclusive growth. The much awaited Goods and Services Tax (GST) is on the verge of implementation. The effective implementation of GST would support competitiveness, investment and economic growth. GST will reduce the cascading effect of tax; it will boost India’s competitiveness, investment and job creation. GST reform is designed to be initially revenue-neutral. The Government’s plans to reduce the corporate income tax rate and broaden the tax base will serve the same objectives. Moreover, as a consequence of the Centre’s major economic reform ‘demonetisation’ and on the back of moderating inflation, market interest rates and yields on g-secs are expected to be lower in FY18 as compared to FY17. Coupled with the expectation of a good monsoon and high farm output may provide a boost to the Indian economy.9 Industry Structure and Developments
PVC Resin
Polyvinyl chloride (PVC) is the third largest plastic in production and consumption globally. A key feature of PVC is that it can be combined with additives and fabricated into wide variety of forms. These include pipesand fittings, profiles and tubes, windows and doors, sidings, insulation for wires and cables, films and sheets, flooring, toys and other moulded products. In India, the PVC market is expected to witness a double digit growth rate in thecoming years. Some of the major drivers contributing to this growth include high growth in the agricultural sector, building and construction sector, automobile industry and medical devices.10 Due to better supply conditions, the prices of EDC and ethylene, the inputs for PVC, were lower in FY17 as compared to FY16. In comparison, the higher price of PVC during the year resulted in better PVC/ EDC spread as shown below resulting in better performance of the segment
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 |
||
|
Revenue from operations (Including excise duty upto
30.06.2017) |
7227.235 |
4752.826 |
20222.810 |
|
Other Income |
102.529 |
109.227 |
250.183 |
|
Total Income |
7329.765 |
4862.053 |
204472.993 |
|
Net
profit/Loss for the period |
1085.754 |
415.588 |
2671.235 |
|
Net
profit/Loss for the period before tax |
1085.754 |
415.588 |
2671.235 |
|
Net profit/Loss
for the period after tax |
695.495 |
282.836 |
1775.977 |
|
Total Compressive income for the period |
4443.514 |
2027.479 |
5987.304 |
|
Equity shares Capital |
1240.954 |
1240.954 |
1240.954 |
|
Reserves (Excluding revaluation reserve) as shown in the
audited balance sheet to the previous year on 31st March 2017 |
21672.971 |
||
|
Earning per share (INR 10 each) |
|
|
|
|
Basic |
5.60 |
2.28 |
14.31 |
|
Diluted |
5.60 |
2.28 |
14.31 |
Note:
Revenue from operations includes excise duty collected for all previous Quarters i.e. up to Quarter ended 30 June 2017 as per guidelines prescribed in Ind As 18 "Revenue". From 1st July 2017, as per the said guidelines, Goods and Service Tax (GST) charged is excluded from Revenue from operation and to that extent the revenues are not comparable. Had the previously reported revenue shown net of excise duty, comparative revenue of the Company would have been as follows:
Revenue from Operations excluding Excise Duty INR 7227.236 Million (QE31.12.17), INR 4752.826 Million (QE30.9.17), INR 5764.967 Million (QE31.12.16), INR 19286.630 Million (9M31.12.17), INR 17061.842 Million (9M31.12.16) INR 26023.643 Million (FYE31.3.17)
The company as per para 6 (e) & para 6A (ii) of Ind AS 23 recognises and includes as borrowing costs the exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs. In the current quarter the company has recognised the gain to the extent of the loss previously recognised as an adjustment to interest and therefore finance costs show a negative figure (net gain).
The above results have been reviewed by audit committee and approved by the
Board at their respective meetings held on 12th February, 2018.
These financial results have been prepared in accordance with the Companies
(Indian Accounting Standard) Rules, 2015 (IndAS) prescribed under section 133
of the Companies Act, 2013.
The limited review of the financial results for the quarter and Nine months
ended December 2017, pursuant to regulation 33(3)(c )(i) of the SEBI (Listing
obligations and Disclosure Requirements) Regulation, 2015 had been carried out
by the statutory auditors.
Previous periods' figures have been re-grouped wherever necessary, to confirm
to the current period's classification.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B12105359 |
90084424 |
BANK OF INDIA |
27/03/1996 |
31/03/2011 |
- |
13957500000.0 |
PUNE CORPORATE BANKING BRANCH 1162/6SHIVAJI NAGAR, UNIVERSITY ROAD,PUNEMH411005IN |
|
2 |
G35526052 |
10525450 |
AXIS TRUSTEE SERVICES LIMITED |
03/04/2014 |
- |
25/01/2017 |
1000000000.0 |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND,PANDURANG BUDHKAR MARG, WORLI,MUMBAIMH400025IN |
|
3 |
G05758669 |
10382832 |
CENTRAL BANK OF INDIA |
28/09/2012 |
- |
16/06/2016 |
1000000000.0 |
JEWEL OF PIMPRI, B WING, 1ST FLOOR,KAMLA CROSS ROAD, OPP.PCMC BHAVAN, PIMPRIPUNEMH411018IN |
|
4 |
C56809924 |
10206653 |
AXIS TRUSTEE SERVICES LIMITED |
05/03/2010 |
06/03/2010 |
29/05/2015 |
500000000.0 |
MAKER TOWERS 'F', 6TH FLOORCUFFE PARADE, COLABAMUMBAIMH400005IN |
|
5 |
B96417563 |
10106975 |
AXIS BANK LIMITED |
28/03/2008 |
31/03/2011 |
28/01/2014 |
345200000.0 |
2ND FLOOR, AXIS HOUSE,BOMBAY DYEING MILL COMPOUNDBUDHKAR PANDURANG MARG, WORLIMUMBAIMH400005IN |
|
6 |
B91326132 |
10154826 |
AXIS TRUSTEE SERVICES LIMITED |
16/02/2009 |
25/03/2009 |
27/11/2013 |
1000000000.0 |
MAKER TOWERS 'F', 13TH FLOORCUFFE PARADE, COLABAMUMBAIMH400005IN |
|
7 |
A77300242 |
90083025 |
UTI BANK LIMITED |
30/03/2005 |
- |
06/01/2010 |
750000000.0 |
MAKER TOWER "F" ;13TH FLOORCUFFE PARADE; COLABAMUMBAIMH400005IN |
|
8 |
A73382665 |
90083057 |
BNP PARIBAS |
05/07/2005 |
25/09/2009 |
27/10/2009 |
424800000.0 |
SINGAPORE BRANCH OFFICE20 COLLYER QUAY # 01-01, TUNG CENTRESINGAPORENA049319SG |
|
9 |
A34894915 |
90082831 |
IL&FS TRUST COMPANY LIMITED |
06/01/2003 |
06/01/2003 |
11/12/2007 |
500000000.0 |
IL&FS FINANCIA CENTER ; PLOT C-22; BLOCK - "G";BANDRA-KURLA COMPLEX ; BANDRA (EAST)MUMBAIMH400051IN |
|
10 |
A27823392 |
90082914 |
IL&FS TRUST COMPANY LIMITED |
19/03/2004 |
- |
11/12/2007 |
500000000.0 |
PLOT C-22; BLOCK "G"BANDRA KURLA COMPLEX; BANDRA (EAST)MUMBAIMH400051IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
· Office Equipments
·
Furniture and Fixture
· Computer Software
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.99 |
|
|
1 |
INR 89.90 |
|
Euro |
1 |
INR 80.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRI |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NKTS |
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.