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MIRA INFORM REPORT
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Report No. : |
496574 |
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Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
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Name : |
TIME TECHNOPLAST LIMITED [w.e.f. 01.05.2006] |
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Formerly Known
As : |
TIME PACKAGING LIMITED [w.e.f.1992] TIME PACKAGING PRIVATE LIMITED |
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Registered
Office : |
101, 1st Floor, Centre Point, Somnath Daman Road, Somnath,
Dabhel, Nani Daman-396210, Daman and Diu (U.T.) |
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Tel. No.: |
91-22-71119999/ 42119999/ 28039999 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.12.1989 |
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Com. Reg. No.: |
56-003240 |
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Capital
Investment / Paid-up Capital : |
INR 226.147 Million |
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CIN No.: [Company Identification
No.] |
L27203DD1989PLC003240 |
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IEC No.: [Import-Export Code No.] |
0390025941 |
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TIN No.: |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
25AAACT2783J1Z6 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACT2783J |
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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
: |
Subject is a multinational conglomerate involved in the
manufacturing of technology and innovation driven polymer and Composite
products. [Registered Activity] |
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No. of Employees
: |
2138 (Approximately) |
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “Time Group”. The company was incorporated in the year 1989. It is a manufacturer of polymer products and composite products. For the financial year 2017, the revenue of the company has increased by 16.76% along with profit margin of 5.95% The rating takes into consideration healthy financial profile of the company marked by strong networth base along with strong debt coverage indicators due to low debt balance sheet profile. The rating continue to reflect the Time Group’s healthy business risk profile of Time and its subsidiaries and joint venture this is because all the entities collectively referred to as the time group. The company has its share price trading at around INR 158.65 against the Face Value (FV) of INR 01 on BSE as on 7th March, 2018. Rating takes into consideration the company’s healthy business profile, supported by its established market position in the polymer-based industrial packaging business. However, these rating strengths are partially offset by large investments for expanding geographical footprint in international and domestic markets in the past and exposure to intense competition in some of its product segments. Trade relations are fair. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for normal business dealings at usual trade terms and conditions. Note: The correct name of the company is “Time Technoplast Limited”. |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Commercial Paper = A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
05.01.2018 |
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 09.03.2018.
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 [TEL NO.: 91-22-71119999/ 71119000]
LOCATIONS
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Registered Office : |
101, 1st Floor. Centre Point, Somnath Daman Road, Somnath,
Dabhel, Nani Daman-396210, Daman and Diu (U.T.), India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate / Regional/ Head Office : |
55, Corporate Avenue, 2nd Floor, Saki Vihar Road, Andheri (East), Mumbai - 400072, Maharashtra, India |
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Tel No.: |
91-22-71119999/ 71119000/ 42119999/ 28039999/ 28039700 |
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Fax No.: |
91-22-28575672 |
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Branch Office : |
Tex Center, C Wing, 2nd Floor, Off HDFC Compound, Chandivali, Andheri, Mumbai-400072, Maharashtra, India |
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Head Office : |
102, Todi Complex, 35, Saki Vihar Road, Andheri (East), Mumbai-400092, Maharashtra, India |
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Tel No.: |
91-22-28570302/ 0586 |
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Fax No.: |
91-22-28575672 |
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Regional Office 1 : |
Bangalore 128, Second Floor, R V Road, V V Puram, Bangalore – 560004, Karnataka, India |
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Tel No.: |
91-80-2660/ 8056 / 26608061/26677646 |
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Fax No.: |
91-80-41506743 |
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Email: |
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Regional Office 2 : |
Vadodara F-1, 7-A, Utkanth Society B-H, Alkapuri Club, R.C. Dutt Road Alkapuri, Vadodara – 390005, Gujarat, India |
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Tel No.: |
91-265-2320668 |
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Fax No.: |
91-265-2358742 |
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Email: |
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Regional Office 3 : |
Chandigarh SCO. 118, 119, 120, 4th Floor, Sector - 34 a, Chandigarh - 160 022, India |
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Tel No.: |
91-172-2646542 / 5076836 |
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Fax No.: |
91-172-2665518 |
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Email: |
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Regional Office 4 : |
Chennai New No: 12, (Old No: 167), Flat No: 204, 2nd Floor, Eldams Square, Eldams Road, Alwarpet, Chennai - 600 018, Tamilnadu, India |
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Tel No.: |
91-44-45010019, 45010029 |
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Fax No.: |
91-44-45010039 |
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Email: |
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Regional Office 5 : |
Hyderabad 508, 5th Floor, Meridian Plaza, 6-3-853 / 1, Green Lands Road Ameerpet Hyderabad - 500016, Telangana, India |
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Tel No.: |
91-40-23410003 |
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Fax No.: |
91-40-23410003 |
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Email: |
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Regional Office 6 : |
Indore 26/6 Nihalpura. Jawahar Marg, Near Ajay Medicals, Indore – 452001, Madhya Pradesh, India |
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Regional Office 7 : |
Kolkatta 14/B, Royd Street, 'Navras', 1st Floor, Park Street P.S., Kolkata - 700 016, West Bengal, India |
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Tel No.: |
91-33-6455 7566 / 6444 4795 |
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Fax No.: |
91-33-2226 4591 |
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Email: |
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Regional Office 8 : |
Sahibabad R.O.
(Delhi) 606-607, Alpha Tower-1, Sector-9, Vasundhara, Ghaziabad - 201012, Uttar Pradesh, India (Land Mark - Kishan Chowk) |
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Tel No.: |
91-120-6699799 / 6699700 |
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Email: |
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Factory: |
Survey No. 325/1, 326/1/1, Dhodharpada Velugam - 396230, Silvassa, Dadra and Nagar Haveli, India |
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Manufacturing
Units: |
Located at:
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DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Anil Jain |
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Designation : |
Managing Director |
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Address : |
311-312, Magnum Towers, Lokhandwala Complex, 2nd X Lane, Andheri (West), Mumbai – 400053, Maharashtra, India |
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Date of Appointment : |
17.10.1991 |
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DIN No.: |
00183364 |
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Name : |
Mr. Bharat Kumar Ratanlal Vageria |
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Designation : |
Whole Time Director |
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Address : |
101-102, Nandalaya Khandelwal Complex, Evershine Nagar, Malad (West), Mumbai – 400064, Maharashtra, India |
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Date of Appointment : |
21.03.1990 |
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DIN No.: |
00183629 |
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PAN No.: |
AAAPV6786A |
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Name : |
Mr. Naveen Mahendrakumar Jain |
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Designation : |
Whole Time Director |
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Address : |
RNA Royal Park, 1107C, M G Road Hindustan Naka, Kandivali (West), Mumbai – 400067, Maharashtra, India |
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Date of Appointment : |
20.12.1989 |
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DIN No.: |
00183948 |
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Name : |
Mr. Raghupathy Thyagarajan |
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Designation : |
Whole Time Director |
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Address : |
A-9/36, Sundar Nagar, Kalina, Santacruz (East), Mumbai - 400098, Maharashtra, India |
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Date of Appointment : |
21.03.1990 |
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DIN No.: |
00183305 |
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Name : |
Mr. Venkatasubramanian |
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Designation : |
Director |
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Address : |
D4/D5, Ashok Swetha 173, Avvai Shanmugam Road, Royapettah, Chennai -600014, Tamilnadu, India |
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Date of Appointment : |
14.12.2000 |
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DIN No.: |
00007392 |
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Name : |
Mr. Mahinderkumar Dayanand Wadhwa |
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Designation : |
Director |
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Address : |
204 A, Landsand, Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India |
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Date of Appointment : |
01.06.1995 |
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DIN No.: |
00064148 |
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Name : |
Mr. Sanjaya Shrikrishna Kulkarni |
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Designation : |
Director |
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Address : |
A/12,Technocrat Society,Twin Tower Lane, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Appointment : |
25.03.2003 |
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DIN No.: |
00102575 |
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Name : |
Mr. Triveni Gulab Makhijani |
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Designation : |
Director |
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Address : |
Dheeraj Gaurav Heights II Corporate, A Wing, Flat No. 405, Off New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
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Date of Appointment : |
13.02.2016 |
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DIN No.: |
07284192 |
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Name : |
Mr. Praveen Kumar Agarwal |
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Designation : |
Director |
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Address : |
C-109 Takshshila Apartments, Plot No- 57, I P Extension, Krishna Nagar, Trilokpuri, Delhi – 110092, India |
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Date of Appointment : |
13.02.2016 |
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DIN No.: |
07294581 |
KEY EXECUTIVES
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Name : |
Mr. Bharat Kumar Ratanlal Vageria |
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Designation : |
Chief Executive Officer |
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Address : |
101-102, Nandalaya Khandelwal Complex, Evershine Nagar, Malad (West), Mumbai – 400064, Maharashtra, India |
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Date of Appointment : |
29.05.2014 |
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PAN No.: |
AAAPV6786A |
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Name : |
Mr. Niklank Kumar Jain |
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Designation : |
Company Secretary |
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Address : |
Flat No 22, B-4, Highway View Corporate Housing Society, Near Shantaram Talao, Malad (East), Mumbai – 400097, Maharashtra, India |
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Date of Appointment : |
14.02.2013 |
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PAN No.: |
ADAPJ0336P |
KEY EXECUTIVES
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Name : |
Mr. Abhishek Mishra |
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Designation : |
Accountant |
SHAREHOLDING PATTERN
AS ON December 2017
|
Category of
shareholder |
Total Nos. shares
held |
Shareholding as a %
of total no. of shares calculated as per SCRR, 1957) As a % |
|
|
(A) Promoter &
Promoter Group |
118839037 |
52.55 |
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(B) Public |
107307713 |
47.45 |
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Grand Total |
226146750 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
Total Nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR 1957) As a % |
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A1) Indian |
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||
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Individuals/Hindu
undivided Family |
18149166 |
8.03 |
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Bharat Vageria |
4662508 |
2.06 |
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Naveen Mahendrakumar Jain |
4563750 |
2.02 |
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Raghupathy Thyagarajan |
4563750 |
2.02 |
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Anil Jain |
4066250 |
1.80 |
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Vishal Anil Jain |
199940 |
0.09 |
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Aruna Vageria |
92968 |
0.04 |
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Any Other (specify) |
100689871 |
44.52 |
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Time Securities Services
Private Limited |
42177098 |
18.65 |
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Vishwalaxmi Trading and Finance
Private Limited |
36102667 |
15.96 |
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Time Exports Private
Limited |
22410106 |
9.91 |
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Sub Total A1 |
118839037 |
52.55 |
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A2) Foreign |
0.00 |
||
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A=A1+A2 |
118839037 |
52.55 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total No. shares
held |
Shareholding %
calculated as per SCRR 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
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Mutual Funds/ |
20457726 |
9.05 |
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HDFC Trustee Company Limited
- HDFC Prudence Fund and Equity Fund |
19286996 |
8.53 |
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Alternate Investment
Funds |
126541 |
0.06 |
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Foreign Portfolio
Investors |
43804175 |
19.37 |
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Ntasian Discovery Master
Fund |
11555483 |
5.11 |
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Kapitalforeningen Investin
Pro, Dalton Aktier Asien Ex Japan |
4641847 |
2.05 |
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Abu Dhabi Investment
Authority - Lglinv |
4237100 |
1.87 |
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Grandeur Peak
International Opportunities Fund |
3121234 |
1.38 |
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Grandeur Peak Emerging
Markets Opportunities Fund |
2417221 |
1.07 |
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Morgan Stanley Asia
(Singapore) Pte. |
2383499 |
1.05 |
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Financial Institutions/
Banks |
90251 |
0.04 |
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Sub Total B1 |
64478693 |
28.51 |
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B2) Central Government/
State Government(s)/ President of India |
0.00 |
||
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B3) Non-Institutions |
0.00 |
||
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Individual share capital
upto INR 0.200 Million |
12739452 |
5.63 |
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Individual share capital
in excess of INR 0.200 Million |
8839099 |
3.91 |
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Ashish Kacholia |
2500000 |
1.11 |
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Any Other (specify) |
21250469 |
9.40 |
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Trusts |
33150 |
0.01 |
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Foreign Individuals |
1400 |
0.00 |
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HUF |
690437 |
0.31 |
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NRI – Non- Repat |
204025 |
0.09 |
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NRI – Repat |
766048 |
0.34 |
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Office Bearers |
53179 |
0.02 |
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Clearing Members |
416468 |
0.18 |
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Bodies Corporate |
3056762 |
1.35 |
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Overseas corporate bodies |
16029000 |
7.09 |
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Ntasian Discovery India
Fund |
16029000 |
7.09 |
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Sub Total B3 |
42829020 |
18.94 |
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B=B1+B2+B3 |
107307713 |
47.45 |
BUSINESS DETAILS
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Line of Business : |
Subject is a multinational conglomerate involved in the
manufacturing of technology and innovation driven polymer and Composite
products. [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 : |
2138 (Approximately) |
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Bankers : |
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Facilities : |
Note: LONG TERM BORROWINGS The
Term Loans from Financial Institutions / Banks are secured by first charge
ranking pari passu on related immovable assets and hypothecation of related
movables (Save and Except Current Assets) of the company. SHORT TERM BORROWINGS: * Working capital facilities from Banks
are secured by hypothecation of stocks and book debts (both present and
future) of the Company. |
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Financial Institutions: |
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Auditors : |
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Name : |
Raman
S. Shah and Associates Chartered
Accountants |
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Address : |
102, Inder Darshan, A Wing, Borivali (West), Mumbai-400092,
Maharashtra, India |
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Tel. No.: |
91-22-28337792/ 28338854 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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Joint Venture: |
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Other Related
Parties: |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000000 |
Equity Shares |
INR 1/- each |
INR 300.000 Million |
|
2500000 |
Redeemable Preference Shares |
INR 10/- each |
INR 25.000 Million |
|
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Total |
|
INR 325.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
226146750 |
Equity Shares |
INR 1/- each |
INR 226.147 Million |
|
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|
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Note:
(I) 19905000 Shares were
allotted as fully paid-up pursuant to the Scheme of Amalgamation of erstwhile
Shalimar
Packaging P Limited and Oxford
Mouldings P Limited with the company without payment received in cash.
(II) 78525000 Shares were
allotted as fully paid-up by way of Bonus shares by capitalisation of Share
Premium Account and General Reserves.
(III) 852750 Shares were
allotted as fully paid-up under ESOP scheme.
(IV) The Equity Shares of
INR 10/- each of the Company have been sub divided into Equity Shares of INR 1
each with effect from 6th November 2008.
(V) 16029000 Shares were
allotted as fully paid-up under preferential issue to Non Promoter
Rights
of Equity Shareholders
The Company has only one
class of Equity Shares having par value of INR 1.each, holder of equity shares
is entitled to one vote per share. In the event of liquidation of the Company, the
holder of equity shares will be entitled to receive any of the remaining assets
of the Company.
Reconciliation of
the number of shares
[INR in Million]
|
Equity Shares |
Number
of Shares |
Amount
|
|
Shares outstanding at the beginning of the year |
210117750 |
210.118 |
|
Shares issued during the year |
16029000 |
16.029 |
|
Shares bought back during the year |
0.000 |
0.000 |
|
Shares
outstanding at the end of the year |
226146750 |
226.147 |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Time Securities Services Private Limited |
42177098 |
18.65% |
|
Vishwalaxmi Trading and Finance Private Limited |
36102667 |
15.96% |
|
Time Exports Private Limited |
22410106 |
9.91% |
|
HDFC Trustee Company Limited - HDFC Equity and Prudence Fund |
18187996 |
8.04% |
|
Ntasian Discovery India fund |
16029000 |
7.09% |
|
American Funds Insurance Series Global Small Capitalization Fund |
11888000 |
5.26% |
|
Ntasian Discovery Master fund |
11555483 |
5.11% |
|
Morgan Stanley Asia (Singapore) Pte. |
8195448 |
3.62% |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
226.147 |
210.118 |
210.118 |
|
(b) Reserves &
Surplus |
11334.352 |
9033.379 |
8039.543 |
|
(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) |
11560.499 |
9243.497 |
8249.661 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2263.256 |
1659.833 |
1720.679 |
|
(b) Deferred tax
liabilities (Net) |
437.281 |
372.318 |
330.749 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2700.537 |
2032.151 |
2051.428 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2783.538 |
2861.255 |
2434.737 |
|
(b) Trade payables |
1934.361 |
1878.735 |
1563.094 |
|
(c) Other current
liabilities |
1101.623 |
1231.546 |
886.092 |
|
(d) Short-term provisions |
119.040 |
109.090 |
423.423 |
|
Total Current Liabilities
(4) |
5938.562 |
6080.626 |
5307.346 |
|
|
|
|
|
|
TOTAL |
20199.598 |
17356.274 |
15608.435 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7533.975 |
6535.936 |
6057.324 |
|
(ii) Intangible Assets |
4.389 |
6.807 |
10.416 |
|
(iii) Capital
work-in-progress |
595.837 |
483.294 |
290.791 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1509.907 |
1353.269 |
1498.990 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
79.827 |
|
(e) Other Non-current
assets |
88.587 |
80.626 |
0.000 |
|
Total Non-Current Assets |
9732.695 |
8459.932 |
7937.348 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3457.793 |
2858.421 |
2583.154 |
|
(c) Trade receivables |
4184.804 |
3474.592 |
2850.468 |
|
(d) Cash and cash
equivalents |
194.632 |
236.907 |
254.162 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
1972.443 |
|
(f) Other current assets |
2629.674 |
2326.422 |
10.860 |
|
Total Current Assets |
10466.903 |
8896.342 |
7671.087 |
|
|
|
|
|
|
TOTAL |
20199.598 |
17356.274 |
15608.435 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
15961.436 |
13670.336 |
13430.842 |
|
|
Other Income |
15.653 |
15.199 |
12.399 |
|
|
TOTAL |
15977.089 |
13685.535 |
13443.241 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
11553.093 |
9940.814 |
9452.23 |
|
|
Manufacturing and
Operating Costs |
756.854 |
635.248 |
625.714 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(122.118) |
(117.060) |
(102.246) |
|
|
Employees benefits
expense |
633.256 |
525.390 |
500.058 |
|
|
Extraordinary Items |
0.000 |
(339.763) |
0.000 |
|
|
Other expenses |
663.303 |
571.928 |
937.44 |
|
|
TOTAL |
13484.388 |
11216.557 |
11413.196 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2492.701 |
2468.978 |
2030.045 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
559.518 |
620.692 |
649.129 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
1933.183 |
1848.286 |
1380.916 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
663.748 |
548.476 |
440.874 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1269.435 |
1299.810 |
940.042 |
|
|
|
|
|
|
|
Less |
TAX |
320.462 |
309.619 |
239.304 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
948.973 |
990.191 |
700.738 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export Earnings |
NA |
NA |
454.533 |
|
|
TOTAL EARNINGS |
NA |
NA |
454.533 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Materials |
NA |
NA |
4807.342 |
|
|
Capital Goods |
NA |
NA |
79.384 |
|
|
Stores & Spares |
NA |
NA |
1.247 |
|
|
TOTAL IMPORTS |
NA |
NA |
4887.973 |
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
|
|
|
|
|
Basic |
4.45 |
3.10 |
3.33 |
|
|
Diluted |
4.45 |
4.71 |
3.33 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
669.180 |
823.919 |
750.408 |
|
Cash generated from operations |
1036.980 |
1227.798 |
1580.664 |
|
Net Cash From Operating Activities |
719.862 |
1003.660 |
1442.857 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd Quarter |
|
|
|
|
|
|
Net sales |
3783.780 |
4243.830 |
7547.040 |
|
Total Expenditure |
3201.280 |
3565.970 |
6384.130 |
|
PBIDT (Excluding Other Income) |
582.500 |
677.860 |
1162.910 |
|
Other income |
NA |
NA |
1.890 |
|
Operating Profit |
582.500 |
677.860 |
1164.800 |
|
Interest |
134.100 |
130.180 |
209.740 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
448.400 |
547.680 |
955.060 |
|
Depreciation |
195.760 |
210.480 |
334.000 |
|
Profit Before Tax |
252.640 |
337.200 |
621.060 |
|
Tax |
70.900 |
88.450 |
140.140 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
181.740 |
248.750 |
480.920 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
181.740 |
248.750 |
480.920 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
95.70 |
92.77 |
77.47 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.81 |
3.93 |
4.71 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
61.11 |
68.98 |
60.36 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.72 |
0.86 |
0.79 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.31 |
0.35 |
0.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.44 |
0.49 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.49 |
0.58 |
0.59 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.51 |
0.66 |
0.64 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.70 |
0.76 |
0.77 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.46 |
3.98 |
3.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
5.95 |
7.24 |
5.22 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.70 |
5.71 |
4.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.21 |
10.71 |
8.49 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.76 |
1.46 |
1.45 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.18 |
0.99 |
0.96 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.57 |
0.53 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
25.28 |
25.44 |
23.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.76 |
1.46 |
1.45 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 01.00/- |
|
Market Value |
INR 158.65/- |
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 |
210.118 |
210.118 |
226.147 |
|
Reserves & Surplus |
8039.543 |
9033.379 |
11334.352 |
|
Net
worth |
8249.661 |
9243.497 |
11560.499 |
|
|
|
|
|
|
Long-Term Borrowings |
1720.679 |
1659.833 |
2263.256 |
|
Short Term Borrowings |
2434.737 |
2861.255 |
2783.538 |
|
Current Maturities of Long term debt |
750.408 |
823.919 |
669.180 |
|
Total
borrowings |
4905.824 |
5345.007 |
5715.974 |
|
Debt/Equity
ratio |
0.595 |
0.578 |
0.494 |
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 |
13430.842 |
13670.336 |
15961.436 |
|
|
|
1.783 |
16.760 |
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
|
13430.842 |
13670.336 |
15961.436 |
|
Profit |
700.738 |
990.191 |
948.973 |
|
|
5.22% |
7.24% |
5.95% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
226.147 |
210.118 |
|
(b) Reserves &
Surplus |
|
13038.686 |
11471.751 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Non-controlling
Interest |
|
384.271 |
761.007 |
|
Total Shareholders’ Funds
(1) + (2) |
|
13649.104 |
12442.876 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2581.887 |
1958.951 |
|
(b) Deferred tax
liabilities (Net) |
|
470.668 |
391.010 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
3052.555 |
2349.961 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3728.095 |
4051.789 |
|
(b) Trade payables |
|
3456.837 |
3227.235 |
|
(c) Other current
liabilities |
|
1656.381 |
1999.274 |
|
(d) Short-term provisions |
|
170.385 |
127.208 |
|
Total Current Liabilities
(4) |
|
9011.698 |
9405.506 |
|
|
|
|
|
|
TOTAL |
|
25713.357 |
24198.343 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
10998.757 |
10202.848 |
|
(ii) Intangible Assets |
|
5.521 |
7.940 |
|
(iii) Capital work-in-progress |
|
869.240 |
707.054 |
|
(iv)Goodwill on
consolidation |
|
0.000 |
1257.814 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
167.948 |
175.569 |
|
Total Non-Current Assets |
|
12041.466 |
12351.225 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
5473.009 |
4834.669 |
|
(c) Trade receivables |
|
5781.832 |
4916.662 |
|
(d) Cash and cash
equivalents |
|
656.161 |
702.280 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
1760.889 |
1393.507 |
|
Total Current Assets |
|
13671.891 |
11847.118 |
|
|
|
|
|
|
TOTAL |
|
25713.357 |
24198.343 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
27546.120 |
24227.386 |
|
|
Other Income |
|
22.286 |
21.162 |
|
|
TOTAL |
|
27568.406 |
24248.548 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
19297.697 |
16868.096 |
|
|
Manufacturing and
Operating Costs |
|
1318.751 |
1249.596 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(103.652) |
61.515 |
|
|
Employees benefits
expense |
|
1331.537 |
1180.912 |
|
|
minority interest |
|
0.000 |
0.000 |
|
|
Other expenses |
|
1659.464 |
1388.821 |
|
|
TOTAL |
|
23503.797 |
20748.940 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
4064.609 |
3499.608 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
901.093 |
962.269 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
3163.516 |
2537.339 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
1154.984 |
988.342 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
2008.532 |
1548.997 |
|
|
|
|
|
|
|
Less |
TAX |
|
494.095 |
325.539 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
1514.437 |
1223.458 |
|
|
|
|
|
|
|
Add |
Minority Interest |
|
43.420 |
37.424 |
|
|
|
|
|
|
|
|
Earnings/ (Loss) Per Share
(INR) |
|
|
|
|
|
Basic |
|
6.90 |
5.64 |
|
|
Diluted |
|
6.90 |
6.57 |
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
Subject incorporated in India is a multinational conglomerate involved in the manufacturing of technology and innovation driven polymer and Composite products.
FINANCIAL RESULTS:
Net Revenue from operations for the standalone entity increased to INR 15961.440 Million, as against INR 13670.340 Million in the previous year, registered a growth of 16.76%. The Net Profit stood at INR 948.970 Million.
MANAGEMENT DISCUSSION
AND ANALYSIS
OVERVIEW OF ECONOMY
GLOBAL ECONOMY OVERVIEW
The global economy is in the midst of a decade long slow growth environment characterized by an imminent productivity growth crisis. The looming labor shortage in mature economies and skill deficiencies in emerging markets will add further challenges to global economic prospect. Global financial markets continue to face elevated levels of uncertainty notwithstanding the resilience to the outcomes of Brexit referendum and the US election.
Goldman Sachs expects global growth for 2017 to be 3.5%. US has led the improvement by growing at 2-3% growth, Fiscal easing is also likely under the Trump organisation, Europe’s growth forecast is 1.5%, it is consistent with the gradual labour market improvement, Japan’s growth rate is in the range of1%, cause of the weakness in the demographics, and decline in the working age population. China is expected to grow by 6.5 percent, long term concerns remain due to the continued rapid debt growth, which has a potential for financial weakness. Growth is projected to pick up from 2017 onward, almost entirely on account of developments in emerging market and developing economies. This reflects primarily two factors: the gradual normalization of macroeconomic conditions in several countries experiencing deep recessions and the increasing weight of fast-growing countries in this group in the world economy.
INDIAN ECONOMY
OVERVIEW
India’s economy is slowly gaining momentum, with an expected GDP growth of 7.3 and 7.5 per cent in 2016 and 2017, respectively. Despite some delays in domestic policy reforms and enduring fragilities in the banking system, investment demand is supported by the monetary easing cycle, rising FDI, and government efforts towards infrastructure investments and public-private partnerships. Economic activity is beginning to firm after demonetization shocked the economy that resulted in massive cash shortages and economic disruptions through the economy at the end of last year and growth is expected to have slowed to a multi-year low in Q3 FY 2017. The manufacturing PMI crossed into expansionary territory in January and imports rebounded. Despite the backdrop of more moderate growth, the government stuck to a market friendly budget for FY 2017. The budget pursued growth-supportive policies while targeting a narrower deficit of 3.2% of GDP and was met with a positive market reaction.
INDUSTRY OVERVIEW -
RELATED TO THEIR PRODUCTS
Plastic Industry
The plastics industry continues to transform and enter different aspects of life, by making lighter and cost – effective products for various industries. Plastic industry is one of the fastest growing industries in India. The per capita consumption of polymers in India is 11 kg, were as in China it is 38 kg and in Europe it is 65 kg, even compared to the global average of 28 kgs, India has a long way to go. A large percentage of products bought by households for daily use are packaged in plastics, because of visual appeal for customer attraction, convenience the hygiene quotient and shelf-life of the products especially in food and beverages segment plastics have become the product to use in the packaging space. The growth of use of plastics in different segments of the economy has had far reaching implications from increase in crop production to improved food quality also efficient water resource usage. Similar has been their contribution to other key sectors like packaging, auto, infrastructure etc.
Packaging Industry
Globally packaging stands at USD 700 billion and is one of the fastest growing industries. In most countries packaging has grown at a faster rate than GDP. In India it has grown at a CAGR of 16% in five years. Currently Indian packaging industry constitutes just 4% of global packaging industry, but going forward Indian packaging industry is expected to grow at 18% p.a. within which, flexible packaging and rigid packaging are expected to grow at 25% p.a and 15% p.a respectively.
Rigid/Industrial
Packaging
The highest growth in demand of Rigid Packaging is coming from Asia, with its total share in the world market growing to 34%. Interestingly the Western regions will drop its maket share as overall growth falters and Asia becomes the growth engine that the world relises on. The most significant end-use market for industrial packaging is the chemicals and pharmaceuticals sector, accounting for more than 30% of total sales. More than three quarters of the steel drum and rigid intermediate bulk containers (IBC) is used by the chemicals sector, it also accounts for more than half of all plastic drums used.
Chemical Industry
The petrochemicals sector and chemical sector has registered a growth of 8-9% and 13-14% respectively in the last 5 years. The India’s chemical industry has witnessed major growth because of the following reasons:
• Structural advantage: Opportunity for chemicals companies is substantial because of demand for paints, textiles,
adhesives and construction coming from growing disposable incomes, increasing urbanization, growing market and purchasing power. The domestic industry is likely to growth at over 10-13% in the coming years.
• High domestic consumption: The largest consumer of chemicals in India is chemicals industry itself, it consumes
33% of its own output. This internal consumption is also set to rise with promising growth trends in the chemicals
industry.
• Diversified industry: With a large pool of highly-trained scientific manpower and substantial presence of downstream industries in all segments. Diversified Indian chemicals industry produces world-class products.
• Promising export potential: 5.4% of India’s total exports are chemicals. In the sub-segments of dyes, pharmaceuticals and agro chemicals, India already has a strong export presence. Germany, the UK, the US, Switzerland, Spain, Turkey, Singapore and Japan all import dyes from India.
BUSINESS OVERVIEW
Established Products
Their Established product portfolio includes Industrial Packaging (Drums, Jerry cans and Pails), Infrastructure (HDPE Pipes, DWC Pipes and Energy Storage devices), Technical and Lifestyle (Turf and Matting, Disposable Bins and Auto Components) contributed 87% of total revenue. The established portfolio (continued business) grew at 15% to INR 23870 Mn from INR 20734 Mn last year. The EBITDA Margin also increased from 14.20% to 14.30% in this Segment.
The company added 15000 mt of plastic processing capacity over the last year. Also in the pipes front the company has successfully expanded its capacity by 12000 mt to 28000 mt. The Company is in the process of launching full range of structured wall plastic piping system (PE/PP Double Wall Corrugated Pipes) up to 800 mm dia mainly for application in sewerage and drainage collection and disposal system, sewerage/effluent treatment plants in the industrial areas, ducting, etc. Bureau of Indian Standards launched standard specification IS : 16098 Part II paved the way for structured wall plastic piping systems to be used under various schemes sponsored by Central Government, State Governments, Municipal Corporations, and other projects aided by World Bank, ADB and other international agencies. The company is setting up three plants for Double Wall Corrugated Pipes at Silvassa, Pantnagar and Hyderabad.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
SHORT TERM
BORROWINGS |
|
|
|
From Bank |
250.000 |
298.293 |
|
Deferral Sales tax Liability |
0.258 |
0.646 |
|
Total |
250.258 |
298.939 |
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE
MONTHS
ENDED 31.12.2017
(INR in Million)
|
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Income from operations |
|
|
|
|
Net Sales |
4544.687 |
4243.829 |
12572.301 |
|
Other Income |
17.550 |
0.000 |
17.550 |
|
Total Income from operations (Net) |
4562.237 |
4243.829 |
12589.851 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of Materials Consumed |
3336.123 |
3027.139 |
9043.862 |
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(91.977) |
(11.359) |
(93.181) |
|
Employee
benefits expense |
179.093 |
169.101 |
503.611 |
|
Finance
Cost |
129.453 |
130.179 |
393.736 |
|
Depreciation
|
218.476 |
210.475 |
624.713 |
|
Other
expenditure |
396.881 |
381.095 |
1133.082 |
|
Total Expenses |
4168.049 |
3906.630 |
11605.823 |
|
Profit from ordinary activities after finance costs but before
exceptional Items |
394.188 |
337.199 |
984.028 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
Profit from ordinary activities before tax |
394.188 |
337.199 |
984.028 |
|
Tax
expense |
93.600 |
88.450 |
252.950 |
|
Net profit from ordinary activities after
tax |
300.588 |
248.749 |
731.078 |
|
Extraordinary
Items |
0.000 |
0.000 |
0.000 |
|
Net profit/ loss for the year |
300.588 |
248.749 |
731.078 |
|
Other
comprehensive income |
0.000 |
0.000 |
0.000 |
|
Total comprehensive income |
300.588 |
248.749 |
731.078 |
|
Paid - up Equity Share Capital (Face value of INR 1/- per share) |
226.147 |
226.147 |
226.147 |
|
Earnings Per Share (EPS) |
|
|
|
|
a) Basic and diluted EPS before exceptional
Items for the period (INR) |
1.33 |
1.10 |
3.23 |
|
b) Basic and diluted EPS after exceptional
Items for the period (INR) |
1.33 |
1.10 |
3.23 |
Notes:
- The above results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on 14th February 2018. Limited Review of the same has been carried out by the statutory auditors of the Company in terms of Regulation 33 of SEBI (Listing and Other Disclosure Requirements) Regulations, 2015.
2. Figures of previous periods have been regrouped / rearranged wherever considered necessary.
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G61663829 |
100109172 |
ADITYA BIRLA FINANCE LIMITED |
29/05/2017 |
11/10/2017 |
- |
400000000.0 |
INDIAN RAYON COMPOUND, VERAVAL – 362266, GUJARAT, INDIA |
|
2 |
G54723440 |
100099121 |
EXPORT-IMPORT BANK OF INDIA |
22/05/2017 |
25/09/2017 |
- |
650000000.0 |
CENTRE ONE BUILDING, FLOOR 21,WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI – 400005, MAHARASHTRA, INDIA |
|
3 |
G31181373 |
100067907 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
30/11/2016 |
- |
- |
500000000.0 |
20/A, LAJPATNAGAR 4,RING ROAD, NEW DELHI – 110024, INDIA |
|
4 |
G42634758 |
100059216 |
HERO FINCORP LIMITED |
29/09/2016 |
27/03/2017 |
- |
500000000.0 |
34, COMMUNITY CENTRE, BASANT LOKVASANT VIHAR, NEW DELHI – 110057, INDIA |
|
5 |
G54593413 |
100060959 |
BANK OF BARODA |
28/09/2016 |
16/09/2017 |
- |
5025000000.0 |
APPLE HERITAGE, GROUND FLOOR, 54-CSIR MATHURDAS VASANJI ROAD, CHAKALA, ANDHERI (EAST), MUMBAI – 400083, MAHARASHTRA, INDIA |
|
6 |
G09215328 |
100043909 |
BANK OF BARODA |
21/07/2016 |
- |
- |
991700000.0 |
APPLE HERITAGE, GROUND FLOOR, 54-CSIR MATHURDAS VASANJI ROAD, CHAKALA, ANDHERI (EAST), MUMBAI – 400083, MAHARASHTRA, INDIA |
|
7 |
G03906393 |
10621586 |
ADITYA BIRLA FINANCE LIMITED |
27/01/2016 |
27/04/2016 |
- |
700000000.0 |
INDIAN RAYON COMPOUND, VERAVAL – 362266, GUJARAT, INDIA |
|
8 |
G00349340 |
10610386 |
EXPORT-IMPORT BANK OF INDIA |
30/12/2015 |
29/03/2016 |
- |
485750000.0 |
CENTRE ONE BUILDING, FLOOR 21,WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI – 400005, MAHARASHTRA, INDIA |
|
9 |
C62605589 |
10588083 |
BANK OF INDIA |
04/08/2015 |
- |
- |
1025000000.0 |
'STAR HOUSE', PLOT NO. C-5, G- BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI – 400051, MAHARASHTRA, INDIA |
|
10 |
G54595723 |
10581190 |
BANK OF BARODA |
03/07/2015 |
16/09/2017 |
- |
3975000000.0 |
APPLE HERITAGE, GROUND FLOOR, 54-CSIR MATHURDAS VASANJI ROAD, CHAKALA ANDHERI (EAST), MUMBAI – 400083, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
Disputed demands in respect of income –tax |
13.671 |
29.997 |
|
Disputed demand in respect of Excise /service tax/ Custom duty/ Sales tax |
1.129 |
1.129 |
|
Corporate Guarantees Given to Banks against Credit facilities extended to Subsidiaries and Joint venture companies |
2008.785 |
2697.551 |
|
Guarantees Issued By Banks on behalf of the company |
147.495 |
154.877 |
FIXED ASSETS:
· Land
· Factory Buildings
· Office Premises
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment’s
· Vehicles
· Computers
· Software
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 64.92 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
GEET |
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.