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%20LIMITED%20-%20497411%2012-Mar-2018_files/image015.jpg){kind=small}
%20LIMITED%20-%20497411%2012-Mar-2018_files/image016.jpg)
%20LIMITED%20-%20497411%2012-Mar-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
497411 |
|
Report Date : |
12.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
KKALPANA INDUSTRIES (INDIA) LIMITED (w.e.f. 09.03.2015) |
|
|
|
|
Formerly Known
As : |
KALPENA INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
2B, Pretoria Street, Kolkata-700071, West Bengal |
|
Tel. No.: |
91-33-22823744/ 45/ 8818 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
03.09.1985 |
|
|
|
|
Com. Reg. No.: |
21-039431 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 188.146 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L19202WB1985PLC039431 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0288010311 |
|
|
|
|
TIN No: |
19432762042 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AABCK2239D1ZT |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALK03269A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK2239D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and sale of PVC and XLPE Compound. (Registered Activity) |
|
|
|
|
No. of Employees
: |
305 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1985. It is a manufacturer and
exporter of PE compound, PVC compound, ink and adhesive, reprocess compound,
etc. For the financial year 2017, the revenue of the company has increased
by 4.64% along with profit margin of 1.32%. The rating takes into consideration strong financial profile of the
company marked by healthy net worth base along with comfortable debt coverage
indicators. The company has its share price trading at around INR 37.20 against
the face Value (FV) of INR 02 on BSE as on 10TH March, 2018 As per the unaudited quarterly of December 2017, the company has
achieved revenue f INR 4027.404 million and has reported profit margin of
1.40%. Rating also derives strength from company’s established track record. However, rating strengths are partially offset by low profitability
and its vulnerability to fluctuations in the prices of polymer, moderate capital
structure, foreign exchange fluctuation risk and working capital intensive
nature of operations. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered good for business
dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities (BBB+) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
August 31, 2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities (A2) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
August 31, 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 12.03.2018
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.
LOCATIONS
|
Registered Office : |
2B, Pretoria Street, Kolkata-700071, West Bengal, India |
|
Tel. No.: |
91-33-22823744/ 45/ 3671/ 99/ 8818 |
|
Fax No.: |
91-33-22823739 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Kolkata Works Village – Bhasa, No.14, P.O. and P.S. Bishnupur, Diamond Harbour Road,
South 24 Parganas - 743503, West Bengal, India Kandua, Village. + P.O. - Chaturbhujkathi, P.S. Sankrail,
Howrah-711302, West Bengal, India |
|
|
|
|
Factory 2 : |
Daman Works 168/151-158, Dhabel Industrial Co- Operative Society Limited, Dhabel,
Daman – 396215(Union Territory), India |
|
|
|
|
Factory 3 : |
Dadra Work Survey No.24/3, Village – Demini, Demini Road, Dadra-396193, Dadra and
Nagar Haveli (Union Territory), India |
|
|
|
|
Factory 4 : |
Falta Works Falta Special Economic Zone, Plot No.29, Sector I, Village – Simulberia, Mouza – Bisra, 24 Parganas South - 743503, West Bengal, India |
|
|
|
|
Factory 5 : |
Surangi Works Survey No. 320/1/1/2/2, 320/1/1/3/2, 320/1/2, 151P, 208, Village Surangi, Chikhali Road, Silvassa -396240, Dadra and Nagar Haveli (Union Territory), India |
|
Location : |
Owned |
|
|
|
|
Factory 6 : |
Survey No.24/5/1/2, Village – Demini, Demini Road, Dadra-396193, Dadra
and Nagar Haveli (Union Territory), India |
|
|
|
|
Warehouse: |
E-11, Store-N-Shift, Radha Gopal Compound, Bhiwandi, Thane - 421302,
Maharashtra, India |
|
|
|
|
Branch Office : |
106, Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-67021470/ 71/ 72 |
|
Fax No.: |
91-22-67021473 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr.
Narrindra Suranna |
|
Designation : |
Chairman and Managing Director |
|
Address : |
227/2 AJC Bose Road, Kolkata-700020, West Bengal, India |
|
Date of Birth/Age : |
01.08.1961 |
|
Qualification : |
B. Com (Hons), LLB, MBA from Harvard University |
|
Experience : |
Mr. Suranna is a Promoter and has been associated with the Company since inception. He has got wide range of experience in plastic industry. Due to his dynamic leadership, the Company has reached its present height. |
|
Date of Appointment: |
17.07.1996 |
|
DIN No.: |
00060127 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Kothari |
|
Designation : |
Whole-Time-Director |
|
Address : |
Flat No. A-301, B-1, Devading CHS Limited,
Sahar Pipe Line, Om Nagar, Andheri (East), Mumbai-400099, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1964 |
|
Qualification : |
Graduate (B.Com) |
|
Date of Appointment: |
12.08.2011 |
|
DIN No.: |
02168932 |
|
|
|
|
Name : |
Dr. Pranab Ranjan Mukherjee |
|
Designation : |
Whole-Time-Director |
|
Address : |
104, Sujay Flats, Near Shraddha Petrol Pump, Bodadkdev, Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age : |
10.10.1945 |
|
Date of Appointment: |
01.10.2014 |
|
Qualification : |
B. Sc (Hons.), M.Sc (Spl Organic), Ph.D in Stereo Chemical Studies in Organic Reactions. |
|
Experience : |
49 Years |
|
Profile : |
Dr. Mukherjee has 40 years of experience in
corporate arena particularly, in Plastic and Ploymers Industries. |
|
DIN No.: |
00240758 |
|
|
|
|
Name : |
Mr. Ramakant Mishra |
|
Designation : |
Non- Executive Independent Director |
|
Address : |
H-No 26/402, Mova Ashoka Ratan Kalauni,
Village: Mowa, Raipur, Chhattisgarh, India |
|
Date of Birth/Age : |
04.07.1956 |
|
Date of Appointment: |
26.09.2014 |
|
Qualification : |
F.C.S, F.C.M.A and MBA |
|
DIN No.: |
06882372 |
|
|
|
|
Name : |
Mrs. Mamta Binani |
|
Designation : |
Non- Executive Independent Director |
|
Address : |
105/1, Bidhannagar Road, C-203, Suncity Complex, Kolkata – 700067, West Bengal, India |
|
Date of Birth/Age : |
10.10.1972 |
|
Qualification : |
Fellow Member of the Institute of Company
Secretaries of India (ICSI) |
|
Date of Appointment: |
26.09.2014 |
|
DIN No.: |
00462925 |
|
|
|
|
Name : |
Mr. Samir Kumar
Dutta |
|
Designation : |
Director |
|
Address : |
13/2,
Balak Dutta, Kolkata -700007, West Bengal, India |
|
Date of Appointment: |
21.06.2017 |
|
Date of Birth/Age : |
04.12.1943 |
|
Qualification : |
B.Sc from Calcutta University. He is a Fellow member at Institute of Cost Accountants of India |
|
Experience : |
He has over 40 years of experience in corporate and Financial matters. |
|
DIN No.: |
07824452 |
KEY EXECUTIVES
|
Name : |
Mrs. Tanvi Panday |
|
Designation : |
Company Secretary |
|
Address : |
26/B, Ripon Street, Kolkata-700016, West Bengal, India |
|
Date of Appointment : |
01.06.2017 |
|
PAN No.: |
ASHPP4640C |
|
|
|
|
Name : |
Mr. I. C. Dakalia |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Jitendra Tiwari |
|
Designation : |
Senior President |
MAJOR SHAREHOLDERS
As on DECEMBER 2017
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
Promoter & Promoter Group |
69268375 |
73.63 |
|
Public |
24804555 |
26.37 |
|
Grand Total |
94072930 |
100.00 |
%20LIMITED%20-%20497411%2012-Mar-2018_files/image020.gif)
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
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu
undivided Family |
764860 |
0.81 |
|
|
NARENDRA KUMAR
SURANA |
2000 |
0.00 |
|
|
DEV KRISHNA SURANA |
683850 |
0.73 |
|
|
TARA DEVI SURANA |
75505 |
0.08 |
|
|
SURENDRA KUMAR
SURANA |
3505 |
0.00 |
|
|
Any Other
(specify) |
68503515 |
72.82 |
|
|
SHYAMBABA TREXIM
PRIVATE LIMITED |
15551680 |
16.53 |
|
|
INBARA HOLDINGS
PRIVATE LIMITED |
7250000 |
7.71 |
|
|
SRI RAM FINANCIAL CONSULTANTS
PRIVATE LIMITED |
44785170 |
47.61 |
|
|
KRISHNA COMMODEALS
PRIVATE LIMITED |
916665 |
0.97 |
|
|
Sub Total A1 |
69268375 |
73.63 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
69268375 |
73.63 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Total as a % of Total Voting right |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
4000 |
0.00 |
|
|
Sub Total B1 |
4000 |
0.00 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
7092033 |
7.54 |
|
|
Individual share
capital in excess of INR 0.200 Million |
2997655 |
3.19 |
|
|
Any Other (specify) |
14710867 |
15.64 |
|
|
Bodies Corporate |
14231838 |
15.13 |
|
|
NRI – Repat |
453612 |
0.48 |
|
|
NRI – Non- Repat |
23966 |
0.03 |
|
|
Clearing Members |
1451 |
0.00 |
|
|
Sub Total B3 |
24800555 |
26.36 |
|
|
B=B1+B2+B3 |
24804555 |
26.37 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturing and sale of PVC and XLPE Compound. (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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
305 (Approximately) |
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Bankers : |
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Facilities : |
LONG-TERM BORROWINGS i)
Terms
of repayment of long-term borrowings are as follows: Term Loans from Banks a) Rupee term loan INR 504.177 million (31.03.2016: INR 321.072 million loan is secured by 1st pari pasu charge by way of equitable mortgage over all present. Hypothecation of present & future Current Assets of the Company on Second pari-passu basis) secured by 1st pari pasu charge by way of equitable mortagage over all present and future movable and immovable properties of the company except Falta and Dankuni and 2nd pari pasu basis charge on all Fixed Assets except Daman, Falta and Dankuni. Term Loan from
Others a)
Indian rupee loan amounting INR 8.255 million
(31.03.2016: INR 11.459 million) is secured by Hypothecation against Motor Car
and repayable in 60 equal monthly installments. SHORT TERM BORROWINGS Includes Buyers Credit and Packing Credit Working Capital Loans from Banks are secured by way of
hypothecation of stocks of raw materials, workin- progress, inished goods,
stores & spares and book debts of the Company. Mortgage of Flat located
at D-403, Dharam Palace, CHS limited, Shantivaan, Borivalli (E),
Mumbai-400066, on First Pari-passu basis. These loans are further secured by
a second charge over the residual value on the Fixed assets of the units both
present and future except Daman. |
|
Auditors : |
|
|
Name : |
B. Mukherjee and Company Chartered Accountants |
|
Address : |
30B, Ramkamal Street, Kolkata-700023, West Bengal, India |
|
Tel. No.: |
91-33-24554888/ 24596310/ 30025106 |
|
Fax No.: |
91-33-24554888/ 24553601 |
|
E-Mail : |
|
|
|
|
|
Internal Auditors : |
|
|
Name : |
D K D and Associates Chartered Accountants |
|
|
|
|
Cost Auditors : |
|
|
Name : |
D. Sabyasachi and Company Cost Accountants |
|
|
|
|
Secretarial Auditors : |
|
|
Name : |
Mr. Ashok Kumar Daga Practicing Company Secretary |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Other Related
Parties: |
Sri Ram Financial Consultants Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
153000000 |
Equity Shares |
INR 2/- each |
INR 306.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
94072930 |
Equity Shares |
INR 2/- each |
INR 188.146 Million |
a)
Terms
/ rights attached to equity shares
The Company has only one class of shares referred to as equity shares having a par value of INR 2/-. Each holder of equity shares is entitled to vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company, after distribution of all preferential amount, in proportion of their shareholding.
b) Reconciliation of
the number of shares
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
Balance as at the beginning of the year |
94072930 |
188.146 |
|
Add: Shares Issued during the year |
- |
- |
|
Less: Shares bought back |
- |
- |
|
Balance as at the end of the year |
94072930 |
188.146 |
Shares Outstanding at
the end of the year – INR 188.146 million
* Pursuant to the sub-division of the Equity shares of the Company, each Equity share of the face value of INR 10/- was subdivided into 5 Equity shares of the face value of INR 2/- each fully paid up w.e.f. May 22, 2015 and it ranks pari-passu in all respect with existing fully paid up Equity Shares of INR 10/- each.
c) Details of
shareholders holding more than 5% of the shares in the Company
|
Particulars |
31.03.2017 |
|
|
Number |
% of holding |
|
|
Sri Ram Financial Consultants Private Limited |
44785170 |
47.61% |
|
Shyambaba Trexim Private Limited |
15551680 |
16.53% |
|
Subh Labh Vintrade Private Limited |
7750000 |
8.24% |
|
Inbara Holdings Private Limited |
7250000 |
7.71% |
Shares allotted as fully
paid up pursuant to contract(s) without payment being received in cash during
the period of five years immediately preceding:
Number of Equity Shares of Rs.10/- each alloted as fully paid up pursuant to contract (Scheme of Amalgamation/ Arrangements) without payment being received in Cash in the year 2010-11 - INR 26.073 million
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
188.146 |
188.146 |
188.146 |
|
(b) Reserves & Surplus |
2528.331 |
2244.725 |
2131.851 |
|
(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) |
2716.477 |
2432.871 |
2319.997 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
819.359 |
713.195 |
1113.640 |
|
(b) Deferred tax liabilities (Net) |
241.006 |
207.337 |
189.712 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
5.441 |
4.241 |
0.324 |
|
Total
Non-current Liabilities (3) |
1065.806 |
924.773 |
1303.676 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2658.376 |
2620.500 |
2626.813 |
|
(b)
Trade payables |
1472.776 |
1339.416 |
605.284 |
|
(c)
Other current liabilities |
327.031 |
397.838 |
1267.633 |
|
(d)
Short-term provisions |
82.641 |
73.257 |
(2.624) |
|
Total
Current Liabilities (4) |
4540.824 |
4431.011 |
4497.106 |
|
|
|
|
|
|
TOTAL |
8323.107 |
7788.655 |
8120.779 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2239.308 |
2057.753 |
1674.394 |
|
(ii)
Intangible Assets |
2.069 |
2.501 |
1.794 |
|
(iii)
Capital work-in-progress |
140.100 |
37.331 |
154.479 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
28.960 |
26.092 |
25.360 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
13.558 |
11.921 |
35.375 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2423.995 |
2135.598 |
1891.402 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1735.632 |
1000.787 |
1293.956 |
|
(c)
Trade receivables |
3497.071 |
3738.277 |
2365.363 |
|
(d)
Cash and cash equivalents |
222.736 |
277.769 |
365.439 |
|
(e)
Short-term loans and advances |
442.466 |
632.802 |
1879.722 |
|
(f)
Other current assets |
1.207 |
3.422 |
324.897 |
|
Total
Current Assets |
5899.112 |
5653.057 |
6229.377 |
|
|
|
|
|
|
TOTAL |
8323.107 |
7788.655 |
8120.779 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
19439.698 |
18577.095 |
17131.814 |
|
|
|
Other Income |
132.952 |
188.693 |
158.793 |
|
|
|
TOTAL |
19572.650 |
18765.788 |
17290.607 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
17255.515 |
16141.037 |
15791.056 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
49.709 |
419.838 |
(483.068) |
|
|
|
Employees benefits expense |
221.636 |
194.251 |
208.453 |
|
|
|
Other expenses |
1096.827 |
918.143 |
876.113 |
|
|
|
Exceptional and Extraordinary
Items |
0.000 |
266.898 |
223.019 |
|
|
|
Loss On Impairment of Assets |
0.000 |
0.000 |
24.148 |
|
|
|
TOTAL |
18623.687 |
17940.167 |
16639.721 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
948.963 |
825.621 |
650.886 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
443.873 |
510.462 |
357.893 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
505.090 |
315.159 |
292.993 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
131.376 |
144.892 |
212.341 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
373.714 |
170.267 |
80.652 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
116.310 |
56.332 |
36.519 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
257.404 |
113.935 |
44.133 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
1298.024 |
1184.089 |
1139.956 |
|
|
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
1555.428 |
1298.024 |
1184.089 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at FOB Value |
3609.034 |
4237.019 |
3000.622 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
8360.827 |
6622.022 |
4703.123 |
|
|
|
Stores & Spares |
12.407 |
13.297 |
8.817 |
|
|
|
Capital Goods |
129.392 |
142.016 |
27.054 |
|
|
TOTAL IMPORTS |
8502.626 |
6777.335 |
4738.994 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (INR) |
2.74 |
1.21 |
0.47 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
187.036 |
300.015 |
846.878 |
|
Cash generated from operations |
708.434 |
904.209 |
1337.096 |
|
Net cash flows from (used in) operating activity |
635.177 |
873.296 |
1318.400 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
5419.720 |
3521.660 |
4027.200 |
|
Total Expenditure |
5201.800 |
3390.210 |
3806.340 |
|
PBIDT (Excl OI) |
217.920 |
131.450 |
220.860 |
|
Other Income |
16.030 |
33.320 |
16.990 |
|
Operating Profit |
233.950 |
164.770 |
237.850 |
|
Interest |
120.460 |
84.750 |
126.760 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
113.490 |
80.020 |
111.090 |
|
Depreciation |
38.960 |
40.430 |
40.130 |
|
Profit Before Tax |
74.530 |
39.590 |
70.960 |
|
Tax |
14.910 |
7.920 |
14.190 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
59.630 |
31.670 |
56.770 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
59.630 |
31.670 |
56.700 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
65.66 |
73.45 |
50.39 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.56 |
4.97 |
7.24 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
31.15 |
30.29 |
13.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.55 |
0.82 |
0.50 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.40 |
0.39 |
0.36 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.67 |
0.70 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.35 |
1.49 |
1.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.67 |
1.82 |
1.94 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.88 |
0.86 |
0.79 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.14 |
1.62 |
1.82 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.32 |
0.61 |
0.26 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.09 |
1.46 |
0.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.48 |
4.68 |
1.90 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.30 |
1.28 |
1.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.92 |
1.05 |
1.10 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.33 |
0.31 |
0.29 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
19.48 |
19.31 |
24.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.30 |
1.28 |
1.39 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 02.00/- |
|
Market Value |
INR 37.20/- |
FINANCIAL ANALYSIS
[all figures are
in 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 |
188.146 |
188.146 |
188.146 |
|
Reserves & Surplus |
2131.851 |
2244.725 |
2528.331 |
|
Net
worth |
2319.997 |
2432.871 |
2716.477 |
|
|
|
|
|
|
long-term borrowings |
1113.640 |
713.195 |
819.359 |
|
Short term borrowings |
2626.813 |
2620.500 |
2658.376 |
|
Current maturities of
long-term debts |
846.878 |
300.015 |
187.036 |
|
Total
borrowings |
4587.331 |
3633.710 |
3664.771 |
|
Debt/Equity
ratio |
1.977 |
1.494 |
1.349 |
%20LIMITED%20-%20497411%2012-Mar-2018_files/image022.gif)
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 |
17131.814 |
18577.095 |
19439.698 |
|
|
|
8.436 |
4.643 |
%20LIMITED%20-%20497411%2012-Mar-2018_files/image024.gif)
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 |
17131.814 |
18577.095 |
19439.698 |
|
Profit |
44.133 |
113.935 |
257.404 |
|
|
0.26% |
0.61% |
1.32% |
%20LIMITED%20-%20497411%2012-Mar-2018_files/image026.gif)
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
188.146 |
188.146 |
|
(b) Reserves &
Surplus |
2528.019 |
2244.725 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2716.165 |
2432.871 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
819.359 |
713.195 |
|
(b) Deferred tax
liabilities (Net) |
240.846 |
207.337 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
|
(d) long-term provisions |
5.441 |
4.241 |
|
Total Non-current
Liabilities (3) |
1065.646 |
924.773 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
2658.376 |
2620.500 |
|
(b) Trade payables |
1473.079 |
1339.416 |
|
(c) Other current
liabilities |
325.757 |
397.838 |
|
(d) Short-term provisions |
82.647 |
73.257 |
|
Total Current Liabilities
(4) |
4539.859 |
4431.011 |
|
|
|
|
|
TOTAL |
8321.670 |
7788.655 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
2240.227 |
2057.753 |
|
(ii) Intangible Assets |
2.069 |
2.501 |
|
(iii) Capital
work-in-progress |
140.100 |
37.331 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(v) Goodwill |
4.960 |
0.000 |
|
(b) Non-current
Investments |
25.360 |
26.092 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.359 |
11.921 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
|
Total Non-Current Assets |
2427.075 |
2135.598 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
1735.632 |
1000.787 |
|
(c) Trade receivables |
3497.071 |
3738.277 |
|
(d) Cash and cash
equivalents |
224.800 |
277.769 |
|
(e) Short-term loans and
advances |
435.854 |
632.802 |
|
(f) Other current assets |
1.238 |
3.422 |
|
Total Current Assets |
5894.595 |
5653.057 |
|
|
|
|
|
TOTAL |
8321.670 |
7788.655 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
Income |
19439.698 |
18577.095 |
|
|
Other Income |
132.952 |
188.693 |
|
|
TOTAL |
19572.650 |
18765.788 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
17255.515 |
16141.037 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
49.709 |
419.838 |
|
|
Employees benefits
expense |
221.636 |
194.251 |
|
|
Exceptional
and Extraordinary Items |
0.000 |
266.898 |
|
|
Profit/Loss
from Subsidiary |
0.312 |
0.000 |
|
|
Other expenses |
1096.827 |
918.143 |
|
|
TOTAL |
18623.999 |
17940.167 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
948.651 |
825.621 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
443.873 |
510.462 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
504.778 |
315.159 |
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
131.376 |
144.892 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
373.402 |
170.267 |
|
|
|
|
|
|
Less |
TAX |
116.309 |
56.332 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
257.093 |
113.935 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.74 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
OPERATIONS AND STATE
OF COMPANY’S AFFAIRS
During the year, The Company achieved total revenue of INR 19572.650 Million as against total revenue of INR 18765.788 Million in the previous financial year. The Profit after Tax is INR 257.404 Million as against INR 113.935 Million in the previous year. The Company’s production and sales have recorded a significant growth over the previous year. Higher level of Capacity Utilization backed by strong volume growth, tighter cost control geared the Company to register notable performance for the year.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
GLOBAL OVERVIEW:
Stagnant global trade, subdued investment, and heightened policy uncertainty marked another dificult year for the world economy. A moderate recovery is expected in 2017, with receding obstacles to activity in commodity exporting, emerging markets and developing economies. Weak investment is weighing on medium-term prospects across many emerging markets and developing economies. Global growth in 2016 was estimated at 3.1% and is projected to rise to 3.5% in 2017. Although iscal stimulus in major economies, if implemented, may boost global growth above expectations, risks to growth forecasts remain tilted to the downside. Important downside risks stem from heightened policy uncertainty in major economies.
Global economic growth is generally interlinked to petrochemical consumption where plastic is an important partner. Plastic processing is the pillar of economy in most of the advanced economies. Per capita consumption of the world is 28 kg whereas India’s is11 kg and China 38 kg and Brazil 32 kgs USA, Germany, UK, Italy, Spain, Australia, Japan, Korea, Taiwan it is more than 100 kg. This means India has big potential to grow as India’s per capita consumption is one of the lowest in Asia.
INDIAN ECONOMY
According to The International Monetary Fund (IMF), the Indian economy grew at 7.1 per cent in 2016-17.Futher, it is expected to accelerate to 7.2 per cent in 2017-18 and 7.7 per cent in 2018-19. Demonetisation is expected to have a positive impact on the Indian economy, which will help foster a clean and digitized economy in the long run, according to Ms Kristalina Georgieva, Chief Executive Oficer, The World Bank. India is expected to be the third largest consumer economy as its consumption may triple to US$ 4 trillion by 2025, owing to shift in consumer behavior and expenditure pattern, according to a Boston Consulting Group (BCG) report; and is estimated to surpass USA to become the second largest economy in terms of Purchasing Power Parity (PPP) by the year 2040, according to a report by Price Waterhouse Coopers. Also, the Prime Minister, Mr Narendra Modi has stated that India has become the world’s fastest growing large economy, and is expected to grow five-fold by 2040, owing to a series of policy measures.
INDUSTRY OVERVIEW
The Indian cable industry is highly fragmented with a large number of producers. The market for cables and wires is mainly dominated by the unorganized sector controlling about 70% of the domestic demand for wires and cables. However, the situation is changing. With the slew of advertising and the publicity campaigns targeted at this segment, companies are getting more and more aware about the quality of products in this category too and making queries before deciding on the purchase of cables and wiring. The government has announced ambitious plans for infrastructure development including power which has significant demand for various types of cable.
INDUSTRY STRUCTURE
AND DEVELOPMENTS
The company’s polymer compounds business is directly related to the fortunes of cable industry/packaging industry and footwear industry. If there is demand push in these segments of Indian economy, the top line and bottom line of Kkalpana will signiicantly increase. The strong R&D facilities of Kkalpana, backed by competent R&D personnel, will help it to overcome many of the challenges, thereby increasing overall growth at a rate much higher to industry average. Kkalpana has been able to develop a number of products for domestic and international markets such as Medium Voltage XLPE, Medium Voltage Semi conducting grades and also grades suitable for Pipes. Kkalpana has always focused in expanding its reach by servicing new areas as well as developing new products continuously. Regular and consistent exports, to almost 30 countries, of various products are testimony to their capabilities. The combination of good product quality and superior after sales services has allowed the company to penetrate markets across the globe and help it to retain and expand customer base in the times of intensified competition.
COMPANY’S
PERFORMANCE:
Financial Performance for 2016-17:-
• Gross turnover for the year is INR 1957.000 Million against INR 1876.000 Million in 2015– 16.
• PBIDT for the year INR 948.900 Million as against 1092.500 Million in 2015-16.
• Profit before Tax for the year INR 373.700 Million against INR 437.100 Million in 2015-16.
• Capital Structure of the Company as at 31st March, 2017 is INR 188.100 million comprising of 94072930 nos. of equity shares of INR 2/- each.
Product wise
operational performance:-
Product wise, the company is engaged in manufacturing of the following products, the performance of which is discussed below-
PVC Compound and
Master Batches
The turnover from PVC Compound & Master Batches is INR 6051.816 million as against INR 4275.846 million in the previous year.
PE Compounds
Turnover from PE compound is INR 10438.413 million in the year as against INR 10713.620 million in the previous year.
Agglomerates,
Reprocessed Granules & Scraps
Turnover from these items is INR 4819.468 million as against INR 5065.046 million in the previous year.
FUTURE OUTLOOK
The Company continues to be the leading market player in manufacturing of polymer compounds. It has offered wide range of products to domestic and industrial users. In the years to come, the Company will come up with more new products to satisfy the diverse needs of the Customers. Kkalpana Industries (India) Limited is confident of accomplishing volume growth target and consequently the targeted market share in very near future. The company, being the only domestic player for Medium Voltage cables, enjoys possibility of achieving higher volumes and margins. The marketing team is making incessant effort for increasing the presence in overseas market. Increased application of polymers and Performance polymers in the field of Consumer durable, Automobiles and also in Alternative & Renewable Energy sector provides ample opportunity to Kkalpana to enhance its business.
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other Loans |
306.927 |
298.571 |
|
|
|
|
|
Total |
306.927 |
298.571 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G60994597 |
100106026 |
HDFC BANK LIMITED |
15/03/2017 |
22/09/2017 |
- |
100000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL (W)MUMBAIMH400013IN |
|
2 |
G69881647 |
100076697 |
IDFC BANK LIMITED |
06/01/2017 |
22/09/2017 |
- |
150000000.0 |
KRM Tower, 7th Floor, No. 1,Harrington Road, Chetpet,ChennaiTa600031IN |
|
3 |
G60996717 |
100077881 |
HDFC BANK LIMITED |
24/11/2016 |
22/09/2017 |
- |
350000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARGLOWER PAREL (W)MUMBAIMH400013IN |
|
4 |
G55672992 |
100058870 |
HDFC BANK LIMITED |
29/04/2016 |
05/07/2017 |
- |
900000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST)MUMBAIMH400013IN |
|
5 |
G68890896 |
10590726 |
State Bank of India |
22/08/2015 |
07/11/2017 |
- |
7850000000.0 |
CORPORATE ACCOUNTS GROUP BRANCH, 2ND FLOORSRIBRIDDHI BHAVAN, 34 JAWAHARLAL NEHRU ROADKOLKATAWB700071IN |
|
6 |
G60993979 |
10537269 |
State Bank of India |
31/10/2014 |
22/09/2017 |
- |
420000000.0 |
CORPORATE ACCOUNTS GROUP BRANCH, RELIANCE HOUSE02ND FLOOR, 34 JAWAHARLAL NEHRU ROADKOLKATAWB700071IN |
|
7 |
G51043883 |
10405955 |
DBS Bank Ltd. (acting as a security trustee for DBS Bank Singapore) |
10/01/2013 |
28/01/2016 |
28/07/2017 |
522500000.0 |
4A, NANDALAL BASU SARANI,KOLKATAWB700001IN |
|
8 |
G44552578 |
10359127 |
Standard Chartered Bank |
14/05/2012 |
09/09/2016 |
22/05/2017 |
513000000.0 |
ON BEHALF OF STANDARD CHARTERED BANK, LONDON19 NETAJI SUBHAS ROADKOLKATAWB700001IN |
|
9 |
G39703442 |
100038374 |
IDFC BANK LIMITED |
16/05/2016 |
- |
28/03/2017 |
500000000.0 |
KRM Tower, 8th Floor, No. 1,Harrington Road, ChetpetChennaiTa600031IN |
|
10 |
G27006717 |
10291370 |
INDUSIND BANK LTD. |
26/04/2011 |
28/03/2013 |
25/11/2016 |
350000000.0 |
Savitri Towers3A, Upper Wood StreetKolkataWB700017IN |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Bank Guarantee |
89.863 |
61.254 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE MONTHS
DECEMBER 31, 2017
[INR
IN MILLION]
|
PARTICULARS |
3 Months |
9 Months |
|
|
|
31.12.2017 |
30.09.2017 |
31.03.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from operations |
4027.204 |
3521.662 |
12968.581 |
|
Other Operating Income |
16.994 |
33.321 |
66.350 |
|
Total income from operations (net) |
4044.198 |
3554.983 |
13034.931 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
3444.569 |
2957.873 |
11075.326 |
|
Changes in inventories of finished goods. work-in-progress
and stock in trade |
(20.780) |
137.134 |
(12.842) |
|
Employee benefits expense |
59.890 |
52.630 |
169.961 |
|
Depreciation and Amortization Expenses |
40.133 |
40.429 |
119.525 |
|
Other Expenses |
322.666 |
242.573 |
788.367 |
|
Finance Costs |
126.756 |
84.752 |
331.963 |
|
Excise Duty |
0.000 |
0.000 |
377.543 |
|
Total expenses |
3973.234 |
3515.391 |
12849.843 |
|
Profit/ (Loss) from ordinary activities after finance cost
but before exceptional items |
70.963 |
39.593 |
185.088 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit/ (Loss) from ordinary activities before tax |
70.963 |
39.593 |
185.088 |
|
Tax expenses |
14.193 |
7.919 |
37.018 |
|
Net Profit / (Loss) from ordinary activities after tax |
56.770 |
31.674 |
148.070 |
|
Extraordinary item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
Net Profit / (Loss) for the period |
56.770 |
31.674 |
148.070 |
|
Comprehensive Income |
0.000 |
0.000 |
0.000 |
|
Net Profit/ (Loss) after taxes, minority interest and
share of profit/(loss) of associates |
56.770 |
31.674 |
148.070 |
|
|
|
|
|
|
Paid up equity share capital (Face Value of INR 2/-each) |
188.146 |
188.146 |
188.146 |
|
Reserve excluding Revaluation Reserve as per Balance Sheet
of previous accounting year |
- |
- |
- |
|
Earnings per share (before extraordinary items) of INR
10/- each (not annualized): |
- |
|
- |
|
(a) Basic |
0.60 |
0.34 |
1.57 |
|
(b) Diluted |
0.60 |
0.34 |
1.57 |
Note:
- The above unaudited financial results for the quarter ended on 31st December, 2017 have been reviewed by the audit committee and have also been approved by the Board of Directors at their respective meetings held on 30th January, 2018.
- The above results have been subjected to Limited Review and the Statutory Auditors have expressed an unqualified report on the above results.
- The above results have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under section 133 of the companies Act, 2013 read together with the companies( Indian Accounting Standards) Rules, 2015.
- According to the requirement of Ind AS and SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 revenue for the Nine months ended 31st December, 2017 Is inclusive of Excise Duty for the period 01.04.2017- 30.06.2017 and revenue for the year ended 31 March, 2017 were reported inclusive of excise duty.
- The government of India has implemented Goods and Service Tax('GST) from 1 July 2017 replacing Excise Duty, Service Tax and Various other direct Taxes. As per Ind As 18, the revenue for the quarter ended 31st December, 2017 is reported net of GST.
- Reconciliation of Net profit as previously reported on account of transition from previous Indian GAAP to Ind AS for the quarter ended 31st December 2017.
- The company is engaged primarily in the business of polymer compounds which constitute a single reporting segment Accordingly, the company is a single segment company in accordance with Indian Accounting Standard 108 "Operating Segment”.
- Figures have been re-grouped / re-arranged wherever considered necessary.
FIXED ASSETS:
Tangible Assets
- Free hold land
- Factory Building
- Plant and Machinery
- Furniture and Fixture
- Motor Car
- Scooter, Moped and Cycle
- Laboratory Equipment
- Air Conditioner
- Electrical Installation
- Office Equipment
- Computer
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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
VSR |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
|
Not Available |
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.