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MIRA INFORM REPORT
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Report No. : |
496849 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BHARAT HEAVY ELECTRICALS LIMITED |
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Registered
Office : |
Bhel House, Siri
Fort, New Delhi – 110049 |
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Tel. No.: |
91-11-66337000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
13.11.1964 |
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Com. Reg. No.: |
55-004281 |
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Capital
Investment / Paid-up Capital : |
INR 4895.200 Million |
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CIN No.: [Company Identification
No.] |
L74899DL1964GOI004281 |
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IEC No.: [Import-Export Code No.] |
0588138690 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACB4146P |
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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 an integrated power plant equipment manufacturer engaged in the design, engineering, manufacture, erection, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz. power, transmission, industry, transportation, renewable energy, oil and gas and defence. (Registered Activity) |
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No. of Employees
: |
39821 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A++ |
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Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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Maximum Credit Limit: |
USD 50000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
BHEL is a “MAHARATNA” with Government of India holding 63.06% stake. BHEL is an integrated Power Plant Equipment manufacturer and one of the largest engineering and manufacturing companies in India. It is a well-established company having fine track records. As per the financial records of 2017, the subject has achieved a 10.64% revenue growth as compared to the previous year along with an average profit margin of 1.68%. The rating reflects on company’s strong financial risk profile, driven by robust liquidity and healthy financial flexibility along with low debt balance sheet profile. Rating further takes strength on BHEL leading position in the power and industrial electrical equipment markets in India. Trade relations are reported as fair. Business is active. Payments are seems to be regular and as per commitments. In view of sound financial risk profile and strong market position, 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Rating |
|
Rating |
Long Term Borrowing = AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
28.09.2017 |
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|
|
|
Rating Agency Name |
India Rating |
|
Rating |
Short Term Borrowing = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest. |
|
Date |
28.09.2017 |
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 08.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-11-66337000)
LOCATIONS
|
Registered Office : |
Bhel House, Siri
Fort, New Delhi – 110049, India |
|
Tel. No.: |
91-11-66337000 (Multiple Lines) |
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Fax. No.: |
91-11-26493021/ 26492534 |
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E-Mail : |
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Website: |
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Corporate Office 1 : |
Ground Floor & 3rd Floor Bhel House, Asiad Village Siri Fort New
Delhi - 110049, India |
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Corporate Office 2 : |
Advant Navis Business Park, Plot No 7, Sector 142, Expressway, Noida -
201305, Uttar Pradesh, India |
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Factory : |
Component Fabrication Plant, U S Nagar, Rudrapur - 263153,
Uttarakhand, India |
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Corporate R&D : |
Located at : ·
Hyderabad, Telangana, India |
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Regional Offices : |
Located at : ·
Noida (Northern Region) ·
Kolkata (Eastern Region) ·
Nagpur (Western Region) ·
Chennai (Southern Region) |
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Branch Offices : |
Located at : ·
Bangalore ·
Bhubaneswar ·
Chandigarh ·
Chennai ·
Guwahati ·
Ranchi ·
Jabalpur ·
Jaipur ·
Kolkata ·
Lucknow ·
Mumbai ·
New Delhi ·
Raipur ·
Secunderabad ·
Vadodara |
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PLANT 1: |
Electro Porcelain Division, Professors C.N. Rao, Science Institute Post, P B No. 1245, Bangalore – 560012, Karnataka, India |
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PLANT 2 : |
Heavy Electricals Equipment Plant / Central Foundry Forge Plant, Haridwar - 249403, Uttar Pradesh, India |
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PLANT LOCATIONS: |
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BHEL Manufacturing
Units: |
Tel. No.: 91-755-2505261
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BHEL Repair Units: |
Electrical Machine Repair Plant
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Overseas Offices : |
Located at:
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DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Atul Sobti |
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Designation : |
Managing Director |
|
Address: |
F 497, Vikas Puri, New Delhi - 110018, India |
|
Date of Appointment : |
01.12.2013 |
|
DIN No.: |
06715578 |
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Name : |
Mr. Subhash Chandra Pandey |
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Designation : |
Additional Director |
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Address: |
D-II/28 Shahjahan Road, New Delhi - 110011, India |
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Date of Appointment : |
31.03.2016 |
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DIN No.: |
01613073 |
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|
Name : |
Mr. Akhil Joshi |
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Designation : |
Director |
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Address: |
693, Kamaljit Sandhu Block, Asian Games, Village Complex, New Delhi 110049, India |
|
Date of Appointment : |
10.08.2016 |
|
DIN No.: |
06604954 |
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|
Name : |
Mr. Rajesh Kishore |
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Designation : |
Additional Director |
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Address: |
Plot No. 9/B, Sectore No. 2, Gandhinagar - 382007, Gujarat, India |
|
Date of Appointment : |
18.12.2015 |
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DIN No.: |
02425323 |
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Name : |
Mr. Debashis Bandyopadhyay |
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Designation : |
Wholetime Director |
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Address: |
11, Rai Bahadur Road, Behala, Kolkata - 700034, West Bengal, India |
|
Date of Appointment : |
01.08.2015 |
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DIN No.: |
07221633 |
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|
Name : |
Mr. Amitabh Mathur |
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Designation : |
Wholetime Director |
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Address: |
B-3/44, Janakpuri, New Delhi - 110058, India |
|
Date of Appointment : |
22.09.2015 |
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DIN No.: |
07275427 |
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|
Name : |
Mr. Subrata Biswas |
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Designation : |
Additional Director |
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Address: |
Flat No. 705, Asiad Games Village Complex, Siri Fort, New Delhi - 110049, India |
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Date of Appointment : |
24.09.2015 |
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DIN No.: |
07297184 |
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Name : |
Mr. Keshav Narasimham Desiraju |
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Designation : |
Additional Director |
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|
Old No-14, New No-25 1 B, 1st Floor, 9th Street, Radhakrishna Salai, Mylapore Chennai - 600004, Telangana, India |
|
Date of Appointment : |
18.12.2015 |
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DIN No.: |
07372233 |
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|
Name : |
Mr. Ramachandran Swaminathan |
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Designation : |
Additional Director |
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Address: |
India House, 151, Limuru Road, Muthaiga Nairobi Na Ke |
|
Date of Appointment : |
18.12.2015 |
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DIN No.: |
01811819 |
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|
Name : |
Mr.Bhaskar Jyoti Mahanta |
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Designation : |
Additional Director |
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Address: |
H/No-15a, 5th Bye Lane, Zoo Narengi Road Karbi Path, Hatigarh Hillside, Geetanaga R Guwahati 781021, Assam India |
|
Date of Appointment : |
03.01.2017 |
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DIN No.: |
07487571 |
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Name : |
Mrs. Surama Padhy |
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Designation : |
Additional Director |
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Address: |
Plot No-1267/1A, Behind Brit Colony Nayapalli Bhubaneswar 751012, Orissa, India |
|
Date of Appointment : |
02.02.2017 |
|
DIN No.: |
07681896 |
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|
Name : |
Ranjit Rae |
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Designation : |
Additional Director |
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Address: |
171, Gulmohar Enclave, New Delhi – 110049, India |
|
Date of Appointment : |
23.09.2017 |
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DIN No.: |
07942234 |
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|
Name : |
Desh Deepak Goel |
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Designation : |
Additional Director |
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Address: |
10/Vi, Income Tax Colony, Malviya Nagar, Near Rungta Hospital, Jaipur – 302017, Rajasthan, India |
|
Date of Appointment : |
23.09.2017 |
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DIN No.: |
07739221 |
KEY EXECUTIVES
|
Name : |
Mr. Inder Pal Singh |
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Designation : |
Company Secretary |
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Flat No. 6, Dharam Kunj Appts., Sector-9 Rohini Delhi 110085, India |
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Date of Appointment : |
30.09.2008 |
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PAN No.: |
AABPS7637J |
MAJOR SHAREHOLDERS
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 |
2315178000 |
63.06 |
|
|
(B) Public |
1356222000 |
36.94 |
|
|
Grand Total |
3671400000 |
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 |
||
|
Central Government/ State Government(s) |
2315178000 |
63.06 |
|
|
PRESIDENT OF INDIA |
2315178000 |
63.06 |
|
|
Sub Total A1 |
2315178000 |
63.06 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
2315178000 |
63.06 |
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 % |
|
|
B1) Institutions |
0 |
||
|
Mutual Funds/ |
51 |
83274431 |
|
|
Foreign Portfolio Investors |
401 |
479779512 |
|
|
Pinebridge Investments Gf Mauritius Limited |
1 |
41544583 |
|
|
Financial Institutions/ Banks |
74 |
202926432 |
|
|
Life Insurance Corporation Of India |
1 |
179564568 |
|
|
Insurance Companies |
8 |
380419937 |
|
|
Life Insurance Corporation Of India |
1 |
345680880 |
|
|
Sub Total B1 |
534 |
1146400312 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
||
|
B3) Non-Institutions |
0 |
||
|
Individual share capital
upto INR 0.200 Million |
460140 |
146656675 |
|
|
Individual share
capital in excess of INR 0.200 Million |
22 |
4402860 |
|
|
NBFCs registered with RBI |
16 |
372098 |
|
|
Any Other (specify) |
11686 |
56657220 |
|
|
Bodies Corporate |
2533 |
40087039 |
|
|
NRI |
6222 |
6165384 |
|
|
Clearing Members |
407 |
3159162 |
|
|
NRI – Non- Repat |
2475 |
2391181 |
|
|
Trusts |
48 |
4673736 |
|
|
IEPF |
1 |
180718 |
|
|
Sub Total B3 |
471864 |
208088853 |
|
|
B=B1+B2+B3 |
472398 |
1354489165 |
BUSINESS DETAILS
|
Line of Business : |
The Company is an integrated power plant equipment manufacturer engaged in the design, engineering, manufacture, erection, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz. power, transmission, industry, transportation, renewable energy, oil and gas and defence. (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 : |
39821 (Approximately) |
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Bankers : |
· Andhra Bank · Bank of Baroda · Canara Bank · Corporation Bank · Central Bank · Indian Bank · Indian Overseas Bank · Oriental Bank of Commerce · Punjab National Bank · Punjab and Sindh Bank · State Bank of India · State Bank of Hyderabad · Syndicate Bank · State Bank of Travancore · UCO Bank · Union Bank of India · United Bank of India · Vijaya Bank · IDBI · CITI Bank N.A · Deutsche Bank AG · The Hongkong and Shanghai Banking Corporation Limited · Standard Chartered Bank · J P Morgan · Axis Bank · The Federal Bank Limited · HDFC · Kotak Mahindra Bank · ICICI · Indusind Bank ·
Yes Bank |
|
Auditors : |
|
|
Name : |
Wahi and Gupta Chartered Accountants |
|
Address : |
New Delhi, India |
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|
Name : |
DSP and Associates Chartered Accountants |
|
Address : |
New Delhi, India |
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Name : |
Vinay Kumar and Company Chartered Accountants |
|
Address : |
Allahabad, Uttar Pradesh, India |
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Name : |
SBA and Company Chartered Accountants |
|
Address : |
Bhopal, Madhya Pradesh, India |
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Name : |
V. Narayanan and Company Chartered Accountants |
|
Address : |
Trichy, Tamilnadu, India |
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Name : |
Rao Associates Chartered Accountants |
|
Address : |
Bengaluru, Karnataka, India |
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Name : |
Anjaneyulu and Company Chartered Accountants |
|
Address : |
Hyderabad, Telangana, India |
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|
Name : |
J.V. Ramanujam and Company Chartered Accountants |
|
Address : |
Chennai, Tamilnadu, India |
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M. B. Gabhawala and Company Chartered Accountants |
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|
Address : |
Varanasi, Uttar Pradesh, India |
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Cost Auditors: |
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|
Name : |
Jugal K Puri and Associates Cost Accountants |
|
Address : |
New Delhi, India |
|
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|
Name : |
Sanjay Kasliwal and Associates Cost Accountants |
|
Address : |
Bhopal, Madhya Pradesh, India |
|
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Name : |
Narasimha Murthy and Company Cost Accountants |
|
Address : |
Hyderabad, Telangana, India |
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|
Name : |
Vishwanath Bhat and Company Cost Accountants |
|
Address : |
Bengaluru, Karnataka, India |
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|
Name : |
Sunil Singh and Company Cost Accountants |
|
Address : |
Lucknow, Uttar Pradesh, India |
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|
Name : |
RKMS and Associates Cost Accountants |
|
Address : |
Chennai, Tamilnadu, India |
|
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|
|
Name : |
Velamarthi and Associates Cost Accountants |
|
Address : |
Visakhapatnam, Andra Pradesh, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Joint Ventures: |
·
Powerplant Performance Improvement Limited ·
BHEL-GE Gas Turbine Services Private Limited ·
NTPC-BHEL Power Projects Private Limited ·
Raichur Power Corporation Limited ·
Dada Dhuniwale Khandwa Power Limited. ·
Latur Power Company Limited |
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Subsidiary Company
: |
· BHEL Electrical Machines Limited |
|
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|
Central Government controlled
entities : |
· Provident fund trusts ·
Gratuity trusts, PRMB Trust, Pension Trust |
CAPITAL STRUCTURE
AS ON 22.09.2017
Authorised Capital : INR 20000.000 Million
Issued Subscribed & Paid-up Capital : INR 7342.800
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000000 |
Equity Shares |
INR 2/- each |
INR 20000.000 Million |
|
|
|
|
|
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2447600000 |
Equity Shares |
INR 2/- each |
INR 4895.200 Million |
|
|
|
|
|
(a) The
reconciliation of the number of equity shares outstanding is set out below:
|
Particular |
As on 31.03.2017 |
|
|
|
Number |
INR In Million |
|
Shares outstanding at the beginning of the year |
2447600000 |
4895.200 |
|
Shares bought back during the year Shares outstanding at
the end of the year. |
2447600000 |
4895.200 |
b) Details of shares held by shareholders holding
more than 5% shares at the year end
|
Particular |
As on
31.03.2017 |
|
|
|
No. of. Shares |
% of |
|
President of India |
1543452000 |
63.06% |
|
Life Insurance Corporation of India Face Value per share 2.00 each |
230453920 |
9.42% |
c) Terms / rights attached to the equity shares:
The company has only one class of equity shares having a par value of H 2 per share (previous year 2 per share). Each holder of the equity shares is entitled to one vote per share.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4895.200 |
4895.200 |
4895.200 |
|
(b) Reserves &
Surplus |
318049.200 |
316915.600 |
335950.800 |
|
(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) |
322944.400 |
321810.800 |
340846.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
895.500 |
1262.900 |
610.000 |
|
Trade paybles |
6311.200 |
7462.200 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
30880.700 |
37612.900 |
53588.400 |
|
(d) long-term provisions |
50013.500 |
76245.000 |
68023.000 |
|
Total Non-current
Liabilities (3) |
88100.900 |
122583.000 |
122221.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
87091.600 |
86983.400 |
87989.400 |
|
(c) Other current
liabilities |
72249.500 |
86893.200 |
91233.100 |
|
(d) Short-term provisions |
41915.600 |
33359.000 |
42381.400 |
|
Total Current Liabilities
(4) |
201256.700 |
207235.600 |
221603.900 |
|
|
|
|
|
|
TOTAL |
612302.000 |
651629.400 |
684671.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
34911.200 |
38251.200 |
39822.000 |
|
(ii) Intangible Assets |
1047.600 |
1373.600 |
1583.200 |
|
(iii) Capital
work-in-progress |
1595.100 |
3095.000 |
5005.000 |
|
trade recievable |
97877.300 |
111272.700 |
0.000 |
|
(iv) Intangible assets
under development |
88.300 |
83.800 |
173.000 |
|
(b) Non-current
Investments |
6614.200 |
6641.600 |
4176.700 |
|
(c) Deferred tax assets
(net) |
38413.700 |
36592.300 |
22207.300 |
|
(d) Long-term Loan and Advances |
780.400 |
656.200 |
12188.300 |
|
(e) Other Non-current
assets |
2034.600 |
2410.200 |
114138.200 |
|
Total Non-Current Assets |
183362.400 |
200376.600 |
199293.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
73723.800 |
96021.500 |
101051.000 |
|
(c) Trade receivables |
220755.600 |
224301.200 |
262235.000 |
|
(d) Cash and cash
equivalents |
104917.900 |
100859.900 |
98127.000 |
|
(e) Short-term loans and
advances |
1388.800 |
1766.100 |
22214.300 |
|
(f) Other current assets |
28153.500 |
28304.100 |
1750.300 |
|
Total Current Assets |
428939.600 |
451252.800 |
485377.600 |
|
|
|
|
|
|
TOTAL |
612302.000 |
651629.400 |
684671.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
294749.900 |
266383.700 |
295419.700 |
|
|
Other Operational Income |
0.000 |
0.000 |
7001.700 |
|
|
Other Income |
9960.900 |
14977.200 |
12204.500 |
|
|
TOTAL |
304710.800 |
281360.900 |
314625.900 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
165661.400 |
163771.300 |
177583.200 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9944.800 |
2104.900 |
(3380.400) |
|
|
Employees benefits
expense |
53999.200 |
53797.500 |
54500.000 |
|
|
cost of jobs |
(250.400) |
(465.700) |
(275.000) |
|
|
provision |
12727.500 |
20504.300 |
16042.300 |
|
|
Prior Period Adjustments
and Tax |
0.000 |
0.000 |
101.100 |
|
|
Other expenses |
44355.500 |
40338.100 |
36964.900 |
|
|
TOTAL |
286438.000 |
280050.400 |
281536.100 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
18272.800 |
1310.500 |
33089.800 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3506.100 |
3594.800 |
916.500 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
14766.700 |
(2284.300) |
32173.300 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8488.400 |
9357.400 |
10773.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
6278.300 |
(11641.700) |
21400.100 |
|
|
|
|
|
|
|
Less |
TAX |
1319.700 |
(4545.700) |
7207.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4958.600 |
(7096.000) |
14192.900 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
2866.300 |
7473.600 |
|
|
Interest |
NA |
15.400 |
27.200 |
|
|
Erection and other services |
NA |
608.500 |
2754.100 |
|
|
Miscellaneous |
NA |
32.200 |
292.400 |
|
|
FE in Deemed Exports |
NA |
32976.100 |
43787.700 |
|
|
TOTAL EARNINGS |
NA |
36498.500 |
54335.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
9009.800 |
17274.200 |
19683.500 |
|
|
Components and Stores
parts |
21303.100 |
22406.300 |
21039.000 |
|
|
Capital Goods |
1526.500 |
404.900 |
1138.800 |
|
|
TOTAL IMPORTS |
31839.400 |
40085.400 |
41861.300 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.03 |
-3.73 |
5.8 |
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 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash Inflow/(Outflow) from Operating Activities |
5620.300 |
3469.300 |
7754.800 |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
|
1ST Quarter |
2ST Quarter |
3rd Quarter |
|
Net Sales |
57320.500 |
62970.500 |
66263.500 |
|
Total Expenditure |
58203.200 |
63924.500 |
63309.400 |
|
PBIDT (Excl OI) |
(882.700) |
(954.000) |
2954.100 |
|
Other Income |
4621.600 |
4850.300 |
1374.900 |
|
Operating Profit |
3738.900 |
3896.300 |
4329.000 |
|
Interest |
657.200 |
552.200 |
610.300 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
3081.700 |
3344.100 |
3718.700 |
|
Depreciation |
2001.400 |
1871.600 |
1820.300 |
|
Profit Before Tax |
1080.300 |
1472.500 |
1898.400 |
|
Tax |
272.100 |
318.300 |
366.500 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
808.200 |
1154.200 |
1531.900 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
808.200 |
1154.200 |
1531.900 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Operating Income * 365 Days) |
273.37 |
307.34 |
324.00 |
|
|
|
|
|
|
Account Receivables Turnover (Operating Income / Sundry Debtors) |
1.34 |
1.19 |
1.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
191.89 |
193.86 |
180.85 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.25 |
0.01 |
0.33 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.49 |
0.03 |
0.71 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.33 |
0.32 |
0.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.62 |
0.64 |
0.65 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.12 |
0.13 |
0.14 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.21 |
0.36 |
36.10 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Total Income ((PAT
/ Total Income) * 100) |
% |
1.68 |
(2.66) |
4.80 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.81 |
(1.09) |
2.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.54 |
(2.21) |
4.16 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.13 |
2.18 |
2.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.76 |
1.71 |
1.73 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.49 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.18 |
0.26 |
0.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.13 |
2.18 |
2.19 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
4895.200 |
4895.200 |
4895.200 |
|
Reserves & Surplus |
335950.800 |
316915.600 |
318049.200 |
|
Net worth |
340846.000 |
321810.800 |
322944.400 |
|
|
|
|
|
|
long-term borrowings |
610.000 |
1262.900 |
895.500 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
610.000 |
1262.900 |
895.500 |
|
Debt/Equity ratio |
0.002 |
0.004 |
0.003 |
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 |
295419.700 |
266383.700 |
294749.900 |
|
|
|
(9.829) |
10.649 |
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 |
295419.700 |
266383.700 |
294749.900 |
|
Profit/(Loss) |
14192.900 |
(7096.000) |
4958.600 |
|
|
4.80% |
(2.66)% |
1.68% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
4895.200 |
4895.200 |
|
(b) Reserves &
Surplus |
318994.700 |
318246.300 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
|
(3) Minority Interest |
(10.800) |
7.800 |
|
Total Shareholders’ Funds
(1) + (2) |
323879.100 |
323149.300 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
895.500 |
1262.900 |
|
Trade payables |
0.000 |
7476.900 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
37211.700 |
37612.900 |
|
(d) long-term provisions |
50061.900 |
76296.100 |
|
Total Non-current
Liabilities (3) |
88169.100 |
122648.800 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
60.300 |
35.300 |
|
(b) Trade payables |
87158.800 |
87084.400 |
|
(c) Other current
liabilities |
72269.400 |
86910.700 |
|
(d) Short-term provisions |
41937.800 |
33376.100 |
|
Total Current Liabilities
(4) |
201426.300 |
207406.500 |
|
|
|
|
|
TOTAL |
613474.500 |
653204.600 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
34964.300 |
38313.500 |
|
(ii) Intangible Assets |
1047.600 |
1373.600 |
|
(iii) Capital
work-in-progress |
1595.100 |
3094.600 |
|
(iv) Intangible assets
under development |
88.300 |
83.800 |
|
(b) Non-current
Investments |
7571.300 |
7964.200 |
|
(c) Deferred tax assets
(net) |
38461.900 |
36627.200 |
|
trade receivables |
0.000 |
111282.200 |
|
(d) Long-term Loan and Advances |
780.400 |
656.200 |
|
(e) Other Non-current
assets |
99926.000 |
2410.200 |
|
Total Non-Current Assets |
184434.900 |
201805.500 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
73796.700 |
96084.400 |
|
(c) Trade receivables |
220775.800 |
224388.900 |
|
(d) Cash and cash
equivalents |
104935.500 |
100872.000 |
|
(e) Short-term loans and
advances |
1357.800 |
1738.100 |
|
(f) Other current assets |
28173.800 |
28315.700 |
|
Total Current Assets |
429039.600 |
451399.100 |
|
|
|
|
|
TOTAL |
613474.500 |
653204.600 |
PROFIT
AND LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Income |
288718.900 |
266785.200 |
|
|
Other Operational Income |
6346.800 |
0.000 |
|
|
Other Income |
7136.500 |
14764.300 |
|
|
TOTAL |
302202.200 |
281549.500 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
161399.900 |
164067.200 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9929.400 |
2100.500 |
|
|
Employees benefits
expense |
54080.000 |
53873.300 |
|
|
Excise duty |
12543.900 |
0.000 |
|
|
Share of net
profit/(Loss) of joint ventures accounted for using equity method |
235.600 |
(158.400) |
|
|
Provisions (Net) |
0.000 |
20399.100 |
|
|
Cost of Jobs done for
internal use |
0.000 |
(465.700) |
|
|
other expenses |
0.000 |
40379.700 |
|
|
Prior Period Adjustments
and Tax |
0.000 |
0.000 |
|
|
TOTAL |
238188.800 |
280195.700 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
64013.400 |
1353.800 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3513.000 |
3598.100 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
14353.600 |
(2244.300) |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8497.900 |
9367.000 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5855.700 |
(11611.300) |
|
|
|
|
|
|
Less |
TAX |
1303.900 |
(4555.500) |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4551.800 |
(7055.800) |
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
1.86 |
(2.88) |
LEGAL CASE
IN THE HIGH COURT OF
DELHI AT NEW DELHI
FAO(OS) 202/2017
M/S TEKNOWCONSULTANTS & ENGINEERS PVT LTD ..... Appellant
Through: Mr. Karan Luthra with Mr. Rishi Agrawal and Ms. Niyati Kohli, Advs.versus
versus
BHARAT HEAVY ELECTRICALS LIMITED ..... Respondent
Through: Mr. Dibya Nishant with Mr. Gautam Mann, Advs.
CORAM:
HON'BLE THE ACTING
CHIEF JUSTICE
HON'BLE MR. JUSTICE
C.HARI SHANKAR
ORDER
% 27.02.2018
On request of the ld. counsel for both the parties, list on
6th March, 2018.
ACTING CHIEF JUSTICE
C.HARI SHANKAR, J
FEBRUARY 27, 2018/pmc
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 |
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 |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORAMATION
Bharat Heavy Electricals Limited (“BHEL” or “the Company”) is a public limited company domiciled in India and has its registered office at BHEL House, Siri fort, New Delhi- 110049. The Company is an integrated potheyr plant equipment manufacturer engaged in the design, engineering, manufacture, erection, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz. Potheyr, Transmission, Industry, Transportation, Renewable Energy, Oil & Gas and Defence.
AWARDS AND
APPRECIATIONS
EEPC India National Awards (For years 2015-16 & 2014-15) For the 27th consecutive year, BHEL’s contribution in the country’s exports have been recognized in the form of ‘Star Performer – Project Exports’ for the year 2015-16 as theyll as for the year 2014-15. Exemplary contribution in 3 x 14 MW Salma HEP, Afghanistan appreciated BHEL CMD was awarded an appreciation shield for the company’s contribution in the project by Hon’ble
PROFILE AND
PERFORMANCE OF BUSINESS SEGMENTS
The economy of India continues to grow at a promising pace, largely driven by factors like rapid urbanization, demographic expansion, favorable policy environment, etc. and energy security is vital for its stable economic growth. With current installed capacity base of over 326 GW, India has come a long way in development of the potheyr sector. Today, about 67% of the country's installed capacity is based on fossil fuels. With a capacity addition from conventional stheirces of 99,209 MW during the 12th Plan, the country has not only exceeded the achievement of 54,964 MW capacity added during the entire 11th Plan (2007-12) through conventional stheirces by 80%, but also achieved ~112% of the 12th plan target of 88,527 MW. The recent initiatives of Govt. of India, like '24x7 Potheyr for All', ‘100% village electrification by 2018’, 'Make in India', Smart Cities', 'UDAY', etc. are likely to enhance the demand for potheyr in the country. Further, to deliver a sustained economic growth rate of 8.0% up to 2035, India needs to increase its primary energy supply by three to ftheir times based on current levels. This represents a need for substantial augmentation of potheyr generation, transmission and distribution capacity from the current levels.Renewable Energy Stheirces (RES) are expected to play a greater role in the future capacity addition. Hotheyver, coal based potheyr plants are expected to continue to remain the backbone of country's potheyr generating capacity in the next few decades, in view of their suitability for continuous, round-the-year operation and the large domestic reserves of coal in the country. The rapid capacity addition in RES would also call for capacity addition in hydro potheyr plants
KERALA GOVERNMENT
ALLOWS BHEL TO EXIT FROM JOINT VENTURE WITH EML
Jun 12 2017
Thiruvananthapuram: The Kerala government on Monday allowed Bharat Heavy Electricals Limited (BHEL) to exit the joint venture (JV) with State-run Electrical Machines Ltd. at Kasaragod. A decision in this regard was taken at a high-level meeting chaired by Chief Minister Pinarayi Vijayan.
BHEL-EML was incorporated in 2011, by acquiring the Kasaragod unit of KEL, a State PSU, as a joint venture with Government of Kerala. BHEL had 51% equity in the JV and the Kerala government holding 49%. However, BHEL was unwilling to invest any amount as per the agreement, and also wanted to exit the JV, a government release said.
The company with 174 employees was running on loss. In these circumstances, the Chief Minister called a high-level meeting in which Industries Minister A C Moideen, Member of Parliament P Karunakaran, Chief Secretary Nalini Netto and BEHL-Electrical Machines Ltd Managing Director S Basu, among others participated.
BHEL-Electrical Machines Ltd, Kasaragod, is a Central Public Sector Enterprise (CPSE) and a subsidiary of BHEL, a Maharatna company.
BHEL BAGS INR
10,0000.000 MILLION CONTRACT FROM BANGLADESH
APR 25, 2017,
BHEL BAGS EPC
ORDER FOR 30 MW SOLAR PHOTOVOLTAIC POWER PLANTS
NEW DELHI: Bharat Heavy Electricals BSE -1.00 % Limited on Tuesday said it bagged its largest ever export order, valued at INR100000.000 million for setting up a thermal power project in Bangladesh.
Won against stiff international competitive bidding, the order has been secured
from Bangladesh India Friendship Power Company (Private) Limited (BIFPCL), a
50:50 joint venture of NTPCBSE -1.36 % and Bangladesh Power Development Board
(BPDB).
BHELBSE -1.00 % has arranged debt financing for the project from EXIM
Bank for which loan agreement between EXIM Bank and BIFPCL was signed in March
this year, an official statement said.
BHEL’s scope of work in the project includes design, engineering, manufacture,
supply, construction, erection, testing and commissioning of the 1320 mw
thermal sets with ultra-supercritical parameters on turnkey basis.
The scope also includes setting up of a jetty and a river-water int.
The scope also includes setting up of a jetty and a river-water intake system. The key equipment for the project will be manufactured at BHEL’s Trichy, Haridwar, Hyderabad, Ranipet, Bhopal, Bangalore and Jhansi plants, while the company's power sector construction division will be responsible for construction and installation activities at site.
BHEL has earlier implemented 100 mw Baghabari gas turbine power project and 2x120 mw Siddhirganj in Bangladesh, besides setting up 220 kV Baghabari & Ishurdi substations
BHEL BAGS INR
2000.000 MILLION RAILWAY ORDER FOR TRACTION CONVERTERS
Dec 16, 2016,
NEW DELHI: Bharat Heavy Electricals Limited BSE 0.66 % (BHEL) has bagged an order worth INR 2000.000 million for supply of traction converters to the railways.
The order has been placed by Chittaranjan Locomotive Works (CLW).
The traction converters will be manufactured and supplied by BHEL’s electronics division in Bengaluru. BHEL has already supplied 225 such IGBT-based traction converters, which are under operation with Indian Railways, an official statement said.
BHEL BAGS EPC ORDER
FOR 30 MW SOLAR PHOTOVOLTAIC POWER PLANTS
New Delhi, August
16, 2016:
Bharat Heavy Electricals Limited (BHEL) has secured an order for setting
up 30 MW (3x10 MW) of Solar Photovoltaic (SPV) Power Plants on Engineering,
Procurement and Construction (EPC) basis.
Valued at INR 1690.000 Million, the Letter of Intent (LoI) has been
placed on BHEL by West Bengal State Electricity Distribution
Corporation Limited (WBSEDCL).
The SPV plants of 10 MW each are to be set up at Mejia (Bankura),
Santaldih (Purulia) and Chharrah (Purulia) in West Bengal.
Earlier this year, BHEL bagged EPC orders from Neyveli Lignite
Corporation and Bharat Electronics Limited for setting up of a 65 MW SPV Power
plant at Neyveli (Tamilnadu) and a 15 MW SPV Power Plant at Ordinance Factory
Premises, Medak (Telangana) which are currently under execution.
In the previous year also, BHEL bagged EPC orders from NTPC
for 50 MW Solar Power plants each at Ananthpur (AP) and Mandsaur (MP). While
the Ananthpur project has been commissioned, the Mandsaur project is currently
under execution. BHEL manufactures solar cells and modules at its
Electronics Division unit in Bengaluru, while space-grade solar panels using high
efficiency cells and space-grade Battery panels are manufactured at its
Electronic Systems Division, also in Bengaluru.
BHEL’s solar business is backed by a dedicated R&D team at the
company’s Amorphous Silicon Solar Cell Plant (ASSCP) in Gurugram.
BHEL offers EPC solutions for both off-grid and grid-interactive
solar PV power plants and has set up Solar Plants in various locations in India
including the Lakshadweep Islands for island electrification.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Long term maturities of finance lease obligation |
895.500 |
1262.900 |
|
Total |
895.500 |
1262.900 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C43559517 |
80025169 |
08/06/1993 |
21/01/2015 |
- |
550000000000.0 |
CAG BRANCH, JAWAHAR VYAPAR BHAWAN1, TOLSTOY MARGNEW DELHIDL110001IN |
|
|
2 |
C43556943 |
90041091 |
08/06/1993 |
21/01/2015 |
- |
50000000000.0 |
CAG BRANCH, JAWAHAR VYAPAR BHAWAN1, TOLSTOY MARGNEW DELHIDL110001IN |
|
|
3 |
C22360648 |
90059992 |
05/02/1991 |
- |
08/09/2014 |
33850000.0 |
POST BAG NO. 16100; CENTRE ONE; 21 FLOORWORLD TRADE CENTRE; CUFFE PARADEBOMBAYMH400005IN |
|
|
4 |
C22504997 |
90059907 |
22/05/1990 |
- |
08/09/2014 |
34600000.0 |
POST BAG NO. 19969; MAKER CHAMBERS IV222; NARIMAN POINTBOMBAYMH400021IN |
|
|
5 |
C22362677 |
90059987 |
18/01/1991 |
- |
08/09/2014 |
113300000.0 |
POST BAG NO. 16100; CENTRE ONE; 21 FLOORWORLD TRADE CENTRE; CUFFE PARADEBOMBAYMH400005IN |
|
|
6 |
C19967082 |
90129433 |
06/04/1994 |
- |
25/08/2014 |
17800000.0 |
19; NETAJI SUBHAS ROADCALCUTTAWB700001IN |
|
|
7 |
B25597469 |
90059895 |
23/04/1990 |
22/05/1990 |
18/11/2011 |
1000000000.0 |
HypothecationDLIN |
|
|
8 |
B25594615 |
90059609 |
14/05/1987 |
13/03/1991 |
18/11/2011 |
1000000000.0 |
HypothecationDLIN |
|
|
9 |
B23508187 |
90031495 |
17/12/1966 |
- |
27/09/2011 |
30000000.0 |
TIRUCHIRAPALLITIRUCHIRAPALLITNIN |
|
|
10 |
B18098798 |
90040228 |
07/02/1973 |
- |
29/07/2011 |
60000000.0 |
NEW DELHINEW DELHIDLIN |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30th SEPTAMBER 2017
(INR In Million)
|
Particulars |
Quarter ended |
Nine Months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
UNAUDITED |
||
|
Income from Operations |
|
|
|
|
Gross Sales/Income from Operations |
64944.400 |
61683.600 |
182698.200 |
|
Other Operating Income |
1319.100 |
1286.900 |
3856.300 |
|
Total Income from
operations (net) |
66263.500 |
62970.500 |
186554.500 |
|
Other Income |
1374.900 |
4850.300 |
10846.800 |
|
Total Income |
67638.400 |
67820.800 |
197401.300 |
|
Expenses |
|
|
|
|
(a) Cost of Material Consumed |
39944.300 |
34901.900 |
106966.200 |
|
(b) Excise duty recovered |
0.000 |
(878.600) |
1385.600 |
|
(d) Changes in inventories of finished goods, work in
progress and stock in trade |
(1004.300) |
3349.800 |
3179.700 |
|
(e) Employee benefit expenses |
13384.600 |
13987.500 |
41460.100 |
|
(f) Finance Cost |
610.300 |
552.200 |
1819.700 |
|
(f) Depreciation and amortization expenses |
1820.300 |
1871.600 |
5693.300 |
|
(g) Other Expenses |
10984.800 |
12563.900 |
32445.500 |
|
Total Expenses |
65740.000 |
66348.300 |
192950.100 |
|
Profit from Ordinary Activities before tax |
1898.400 |
1472.500 |
4451.200 |
|
Tax Expenses |
1531.900 |
1154.200 |
3494.300 |
|
Other comprehensive income |
26.700 |
26.900 |
80.300 |
|
Total Other comprehensive income |
1558.600 |
1181.100 |
3574.600 |
|
Owners of the
company |
1531.900 |
1154.200 |
3494.300 |
|
Other comprehensive income |
|
|
|
|
Owners of the
company |
26.700 |
26.900 |
80.300 |
|
Total Other comprehensive income |
1558.600 |
1181.100 |
3574.600 |
|
Paid- up
Equity Share Capital (share – INR 5) |
7342.800 |
4895.200 |
7342.800 |
|
Earnings per
share (before extraordinary items) (of INR 5 each (not announced) |
|
|
|
|
Basic |
0.42 |
0.47 |
0.95 |
|
Diluted |
0.42 |
0.31 |
0.95 |
Note: The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 07.11.2017 . The Auditors of the company have carried out the limited review of the current & upto the quarter ended 30th September 2017 and of the corresponding previous period, as per regulation 33 of SEBI.
2. The figures have been regrouped/ rearranged wherever considered necessary to conform to the current period's classification.
3. The Shareholders of the Company in their Annual General Meeting held on 22nd September, 2017 approved the issue of bonus shares in the ratio of 1:2, i.e. one equity bonus share for two existing fully paid up equity shares held. The allotment of 122,38,00,000 bonus shares was made by the company on 03rd October 2017. Post bonus issue, Company's share capital consists of 367,14,00,000 equity share of INR. 2/- each amounting to INR 7342.800 Million. Accordingly, the Earning per share for the quarter & half year ended September 30, 2017 and comparative periods presented have also been computed on the basis of new-numbers of shares post bonus issue i.e. 367,14,00,000 equity share of INR. 2/- each.
4. Post applicability of GST w.e.f. 1st July 2017, Sales / Income from operations is net of GST. Sales / Income from operations till 30th June 2017 is inclusive of Excise Duty. For comparison, Sales / Income from operations have been disclosed on Gross as well as Net basis.
CONTINGENT
LIABILITIES
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the company not acknowledged as debt : |
|
|
|
Income Tax Pending Appeals |
127.300 |
9.600 |
|
Against which paid under protest included under the head "Deposits " |
0.000 |
0.000 |
|
Sales Tax Demand |
18465.000 |
12294.400 |
|
Against which paid under protest included under the head "Deposits" |
2983.400 |
2692.900 |
|
Excise Duty demands |
4829.200 |
4679.600 |
|
Against which paid under protest included under the head "Deposits" |
241.700 |
235.900 |
|
Custom Duty demands |
0.000 |
1.000 |
|
Against which paid under protest included under the head "Deposits" |
0.000 |
0.000 |
|
Court and Arbitration cases |
8841.900 |
10293.200 |
|
Liquidated Damages |
62145.400 |
78363.800 |
|
Amount deducted by customers towards LD included in |
27305.000 |
31617.700 |
|
Counter Claim by contractors |
6.100 |
6.100 |
|
Service Tax Demand |
5076.700 |
4859.400 |
|
Against which paid under protest |
73.900 |
73.400 |
|
Others (In view of the various court cases, litigations and claims disputed by the company, the outflow of resources is not ascertainable at this stage). |
347.400 |
458.600 |
|
Total |
130443.000 |
145585.600 |
FIXED ASSETS:
TANGIBLE ASSETS
·
Land
·
Building
·
Roads, Bridges and Culverts
·
Drainage, Sewerage and Water Supply
·
Railway Siding
·
Plant and Machinery
·
Locomotives and Wagons
·
Electronic Data Processing Equipment’s
·
Electrical Installations
·
Construction Equipment
·
Furniture and Fixtures
·
Computer
·
Vehicles
·
Office and Other Equipment’s
INTANGIBLE ASSETS
·
Software
·
Technical Know-how
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 64.96 |
|
|
1 |
INR 90.33 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
POO |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
NKTS |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
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.