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MIRA INFORM REPORT
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Report No. : |
497546 |
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Report Date : |
14.03.2018 |
IDENTIFICATION DETAILS
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Name : |
ITD CEMENTATION INDIA LIMITED (w.e.f.26.05.2005) |
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Formerly known
as: |
SKANSKA CEMENTATION INDIA LIMITED (w.e.f.11.07.2001) KVAERNER CEMENTATION INDIA LIMITED (w.e.f.01.09.1998)
TRAFALGAR HOUSE CONSTRUCTION INDIA LIMITED [w.e.f.07.09.1994] CEMINDIA COMPANY LIMITED |
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Registered
Office : |
National Plastic Building, A – Subhash Road, Paranjape B Scheme, Vile
Parle (East), Mumbai – 400057, Maharashtra |
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Tel. No.: |
91-22-66931600 |
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Country : |
India |
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Financials (as
on) : |
31.12.2017 |
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Date of
Incorporation : |
24.06.1978 |
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Com. Reg. No.: |
11-020435 |
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Capital
Investment / Paid-up Capital : |
INR 155.158 Million |
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CIN No.: [Company Identification
No.] |
L61000MH1978PLC020435 |
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IEC No.: |
0388068876 |
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GST No: |
27AAACT1426A1ZZ |
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TIN No.: |
27170004850 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACT1426A |
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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 engaged in Construction of a wide variety of structures like maritime structures, mass rapid transport systems (MRTS), dams and tunnels, airports, highways, bridges and flyovers and other foundations and specialist engineering work. (Registered Activity) |
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No. of Employees
: [As on
31.12.2016] |
4579 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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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 : |
Exist |
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Comments : |
ITD Cementation India Limited is engaged in construction of a wide
variety of structures like maritime, structures, mass rapid transport systems
(MRTS), dams and tunnels, airports, highways, bridges and flyovers and other
foundations and specialist engineering work. ITD Cementation India Limited operates as a subsidiary of
“Italian-Thai development Public Company Limited”, Thailand. The company was
incorporated in the year 1978 and is based in Mumbai, Maharashtra. It is an
established company having good track record. For the financial year ended December 2017, revenue of the company has
decline. However, it has witnessed a growth in its profit and has achieved
profit margin at 3.89% (approx.). The company possesses sound financial profile marked by healthy net
worth base along with low debt level of the company The company further derives strength from its holding entity and its
experienced management team. Share price are quoted high on stock exchange (Share price of INR 163
with face value INR 1). Further, as per available quarterly financials of 2017, the company
has shown growth in its revenue and has reported fair profit. Trade relations are reported as fair. Business is active. Payments
terms are seems to be regular and as per commitment. In view of the aforesaid, the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
INDIA RATING |
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Rating |
Long Term Rating=A- |
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Rating Explanation |
Adequate degree of safety and low credit risk |
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Date |
31.05.2017 |
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Rating Agency Name |
INDIA RATING |
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Rating |
Short Term Rating=A1 |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
31.05.2017 |
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 14.03.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-22-66931600]
LOCATIONS
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Registered/ Corporate Office : |
National Plastic Building, A – Subhash Road, Paranjape B Scheme, Vile
Parle (East), Mumbai – 400057, Maharashtra, India
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Tel. No.: |
91-22-66931600 |
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Fax No.: |
91-22-66931627/ 28 |
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E-Mail : |
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Website : |
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Site Office: |
1st Floor, Dani Wooltex Compound, 158, Vidyanagari Marg, Kalina,
Satacruz (East), Mumbai-400098, Maharashtra, India |
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Project Office: |
Road No. 51, Shah Alam Bandhu Road, Adjoining Azadpur Flyover, Outer Ring Road, Delhi – 110042, India |
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Regional/ Area
Offices: |
· “Godrej Waterside”, Tower No. 1, Office # 803, 8th floor, Plot No. 5, Block-DP, Sector-V, Salt Lake City, Kolkata-700091, West Bengal, India
· 301 & 302, Sagar Towers, District Centre, Janakpuri, New Delhi-110058, India
· Pearl Glow Building, First Floor, No. 3 Vijayaragava Road, T. Nagar, Chennai-600017, Tamilnadu, India
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R & D Location: |
Located at: ·
Kolkata |
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Project Offices : |
Located at: · Medak · Vizag · Jorabat · Delhi · Dahej · Hazira · Kandla · Gurgaon · Jammu · Bangalore · Gulbarga · Kolkata · Sasan · Kymore · Gondia · JNPT, Maharashtra · Mumbai · Nashik · Pune-Satara · Ratnagiri · Umtru · Cuttack · Mansa · Jaipur · Sikkim · Chennai · Tuticorin · Agartala · Lucknow |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Darius Erachshaw Udwadia |
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Designation : |
Director |
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Address : |
Empress Court, 142, M-Karve Road, Mumbai - 400020,
Maharashtra, India |
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Qualification : |
Hons. Degree in
M.A. and LL.B [Bombay]. |
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Date of Appointment : |
09.02.1983 |
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DIN No.: |
00009755 |
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Name : |
Mr. Deba Prasad Roy |
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Designation : |
Director |
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Address : |
Appartment 505, Nestle I.B. Wing, Pandurang Budhkar Marg,
Mumbai - 400013, Maharashtra, India |
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Qualification : |
Degree in M. Sc. Chemistry from Jadavpur University, Calcutta. |
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Date of Appointment : |
31.07.2007 |
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DIN No.: |
00049269 |
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Name : |
Mr. Premchai Karnasuta |
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Designation : |
Director |
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Address : |
12/3 SOI Soonvijai, 3 New Petchburi Bangkapi Huaykwang,
Bangkok, 10320, ,Thailan |
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Qualification : |
Graduate in B. Sc Mining Engineering and also holds MBA degree. |
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Date of Appointment : |
04.11.2004 |
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DIN No.: |
00233779 |
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Name : |
Mr. Pathai Chakornbundit |
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Designation : |
Director |
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Address : |
342/48, SOI Ram Indra 14, Ram Indra Road, Tharang,
Bangkhan, Bangkok, 10230, Thailand |
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Qualification : |
Graduate in B. Engineering. |
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Date of Appointment : |
04.11.2004 |
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DIN No.: |
00254312 |
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Name : |
Mr. Per Ebbe Hofvander |
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Designation : |
Director |
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Address : |
Fyrvagen 11, 23940 Falsterbo, Sweden, 23940, Sweden |
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Qualification : |
Degree in M. Sc. Civil Engineering. |
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Date of Appointment : |
30.04.2005 |
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DIN No.: |
00254616 |
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Name : |
Mr. Ramola Shripad Mahajani |
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Designation : |
Director |
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Address : |
112 Satnam Apartments, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
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Date of Appointment : |
06.11.2014 |
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DIN No.: |
00613428 |
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Name : |
Mr. Adun Saraban |
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Designation : |
Managing Director |
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Address : |
Heritage, Flat No. 703, 7th Floor, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India |
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Qualification : |
Bachelor degree in Civil Engineering from King Mongkut’s University of Technology Thonburi Thailand. |
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Date of Appointment : |
12.08.2009 |
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DIN No.: |
01312769 |
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Name : |
Mr. Piyachai Karnasuta |
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Designation : |
Additional Director |
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Address : |
12 SOI Soonvijay 3,New Phetburi Road,, Bangkapi, Huaikwang, Bangkok, 10310, Thailand |
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Date of Appointment : |
05.08.2015 |
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DIN No.: |
07247974 |
KEY EXECUTIVES
|
Name : |
Mr. Ramnath Sundaresan |
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Designation : |
Executive Vice President and Chief Financial Officer |
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Date of Appointment : |
01.04.2014 |
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PAN No.: |
AHEPS6516L |
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Name : |
Mr. Rahul Neogi |
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Designation : |
Company Secretary |
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Address : |
Greenhills 4A, 401,Lokhandwala Township, Kandivali, Mumbai-400101, Maharashtra, India |
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Date of Appointment : |
01.02.2017 |
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PAN No.: |
ABFPN1919B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 02.02.2018
|
Category
of shareholder |
Total
nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % of (A+B+C2) |
|
|
(A) Promoter and Promoter Group |
80113180 |
46.64 |
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(B) Public |
91674404 |
53.36 |
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Grand
Total |
171787584 |
100.00 |
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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 |
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A2) Foreign |
0.00 |
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Any Other
(specify) |
8,01,13,180 |
46.64 |
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ITALIAN THAI DEVELOPMENT PUBLIC COMPANY
LIMITED |
8,01,13,180 |
46.64 |
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Sub Total A2 |
8,01,13,180 |
46.64 |
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A=A1+A2 |
8,01,13,180 |
46.64 |
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Statement showing shareholding pattern of the Public
shareholder
|
Category
& Name of the Shareholders |
No.
of fully paid up equity shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
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B1) Institutions |
0 |
0.00 |
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Mutual Funds/ |
49177787 |
28.63 |
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HDFC TRUSTEE COMPANY LIMITED - HDFC TAX
SAVERFUND |
5645800 |
3.29 |
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RELIANCE CAPITAL TRUSTEE CO LTD-A/C
RELIANCE CAPIT |
16076105 |
9.36 |
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SUNDARAM MUTUAL FUND A/C SUNDARAM
INFRASTRUCTURE A |
3502890 |
2.04 |
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FRANKLIN TEMPLETON MUTUAL FUND A/C
FRANKLIN BUILDINDIA FUND (FBIF) |
5655300 |
3.29 |
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UTI-MNC FUND |
5649430 |
3.29 |
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SBI MAGNUM MONTHLY INCOME PLAN |
5589784 |
3.25 |
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IDFC DYNAMIC EQUITY FUND |
4480335 |
2.61 |
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Foreign
Portfolio Investors |
5304503 |
3.09 |
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EASTSPRING INVESTMENTS INDIA
INFRASTRUCTURE EQUITYOPEN LIMITED |
2584178 |
1.50 |
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Financial Institutions/
Banks |
209353 |
0.12 |
|
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Any Other
(specify) |
471580 |
0.27 |
|
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Sub Total B1 |
55163223 |
32.11 |
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B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
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B3)
Non-Institutions |
0 |
0.00 |
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Individual share
capital upto INR 0.200 Million |
23188134 |
13.50 |
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Individual share
capital in excess of INR 0.200 Million |
6285479 |
3.66 |
|
|
HITESH RAMJI JAVERI |
4000020 |
2.33 |
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NBFCs registered
with RBI |
18150 |
0.01 |
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Any Other
(specify) |
7019418 |
4.09 |
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Trusts |
5280 |
0.00 |
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ALTERNATIVE INVESTMENT FUND |
250000 |
0.15 |
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NRI – Repat |
762376 |
0.44 |
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Clearing Members |
109380 |
0.06 |
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NRI – Non- Repat |
228410 |
0.13 |
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Bodies Corporate |
5370412 |
3.13 |
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PARAM CAPITAL RESEARCH PRIVATE LIMITED |
2000000 |
1.16 |
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IEPF |
293560 |
0.17 |
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Sub Total B3 |
36511181 |
21.25 |
|
|
B=B1+B2+B3 |
91674404 |
53.36 |
|
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in construction of a wide variety of structures like maritime structures, mass rapid transport systems (MRTS), dams and tunnels, airports, highways, bridges and flyovers and other foundations and specialist engineering work. (Registered Activity) |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
·
PSA group ·
Adani ·
Mundra Port ·
National
Highways Authority of India (NHAI) ·
Ghaziabad
Development Authority ·
CIDCO ·
Tata Projects
Limited ·
Punj Lloyd
Limited ·
NTPC Limited |
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No. of Employees
: [As on
31.12.2016] |
4579 (Approximately) |
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Bankers : |
·
Allahabad Bank ·
Axis Bank Limited ·
Bank of Baroda ·
Bank of India ·
Bank of Maharashtra ·
Central Bank of India ·
Export-Import Bank of India ·
IDBI Bank Limited ·
Punjab National Bank ·
Standard Chartered Bank ·
State Bank of India ·
Syndicate Bank ·
The Federal Bank Limited ·
Union Bank of India |
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Facilities : |
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Auditors : [As on 31.12.2016] |
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Name : |
Walker, Chandiok and Company Chartered Accountants |
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Address : |
16th Floor, Tower II, Indiabulls Finance Centre, S B Marg, Elphinstone (West), Mumbai-400013, Maharashtra, India |
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Tel. No.: |
91-22-66262600 |
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Fax No.: |
91-22-66262601 |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Legal Advisors : [As on 31.12.2016] |
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|
Name : |
Udwadia and Company |
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Address : |
Mumbai, Maharashtra, India |
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Holding Company : [As on 31.12.2016] |
Italian-Thai Development Public Company Limited |
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Subsidiary Company : [As on 31.12.2016] |
ITD Cementation Projects India Limited |
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Fellow
subsidiary : [As on 31.12.2016] |
First Dhaka Elevated Expressway (FDEE) Company Limited |
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|
Joint Ventures (unincorporated): [As on 31.12.2016] |
·
ITD Cemindia JV ·
ITD - ITD Cem JV ·
ITD - ITDCem JV (Consortium of ITD - ITD
Cementation) ·
ITD - Cem Maytas Consortium · CEC - ITD Cem-TPL JV |
CAPITAL STRUCTURE
AS ON 31.12.2017
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 155.158 Million
AS ON 31.12.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000000 |
Equity Shares |
INR 1/- each |
INR 300.000 Million |
|
45000000 |
Redeemable Preference Shares |
INR 10/- each |
INR 450.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 750.000
Million |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
155183160 |
Equity Shares |
INR 1/- each |
INR 155.183 Million |
|
|
|
|
|
Subscribed &
Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
155157900 |
Equity Shares |
INR 1/- each |
INR 155.158 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
155.158 |
155.158 |
155.158 |
|
(b) Reserves & Surplus |
6017.666 |
5352.095 |
4927.023 |
|
(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) |
6172.824 |
5507.253 |
5082.181 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
246.176 |
406.213 |
98.281 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
111.031 |
90.236 |
69.216 |
|
Total Non-current
Liabilities (3) |
357.207 |
496.449 |
167.497 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
4223.852 |
2934.843 |
4516.890 |
|
(b) Trade
payables |
5120.187 |
6042.320 |
7167.803 |
|
(c) Other
current liabilities |
5698.587 |
3110.282 |
4436.377 |
|
(d) Short-term
provisions |
240.215 |
254.183 |
159.752 |
|
(e) Current
maturity of long-term-borrowing |
415.957 |
221.061 |
268.422 |
|
Total Current
Liabilities (4) |
15698.798 |
12562.689 |
16549.244 |
|
|
|
|
|
|
TOTAL |
22228.829 |
18566.391 |
21798.922 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
4063.968 |
3356.087 |
2931.293 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
167.344 |
56.020 |
19.684 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.249 |
103.125 |
660.742 |
|
(c) Deferred tax assets (net) |
29.398 |
0.307 |
362.220 |
|
(d) Long-term Loan and Advances |
22.529 |
2145.649 |
1696.030 |
|
(e) Loan term trade
receivables |
30.900 |
286.337 |
286.337 |
|
(f) Other Non-current assets |
2033.622 |
0.000 |
1.889 |
|
Total Non-Current
Assets |
6354.010 |
5947.525 |
5958.195 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.026 |
0.026 |
|
(b)
Inventories |
1196.046 |
6670.086 |
9973.047 |
|
(c) Trade
receivables |
2238.838 |
2274.476 |
2611.629 |
|
(d) Cash
and cash equivalents |
1094.882 |
1646.959 |
1408.797 |
|
(e)
Short-term loans and advances |
5842.629 |
2023.646 |
1835.539 |
|
(f) Other
current assets |
5502.424 |
3.673 |
11.689 |
|
Total
Current Assets |
15874.819 |
12618.866 |
15840.727 |
|
|
|
|
|
|
TOTAL |
22228.829 |
18566.391 |
21798.922 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Contract Revenue |
18729.203 |
29252.678 |
27360.870 |
|
|
|
Other Operating Income |
0.000 |
(537.049) |
74.436 |
|
|
|
Other Income |
342.369 |
197.578 |
168.394 |
|
|
|
TOTAL (A) |
19071.572 |
28913.207 |
27603.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5435.172 |
6553.617 |
6623.495 |
|
|
|
Sub-contract Expenses |
4259.764 |
12861.276 |
12425.507 |
|
|
|
Employees benefits expense |
2361.479 |
2214.099 |
1843.225 |
|
|
|
Other expenses |
4145.794 |
5129.260 |
4960.097 |
|
|
|
Exceptional Item |
218.394 |
0.000 |
1239.719 |
|
|
|
TOTAL (B) |
16420.603 |
26758.252 |
27092.043 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2650.969 |
2154.955 |
511.657 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
855.380 |
887.436 |
1150.677 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
1795.589 |
1267.519 |
(639.020) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
552.030 |
323.079 |
248.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1243.559 |
944.440 |
(887.549) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
515.394 |
463.345 |
(294.476) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
728.164 |
481.095 |
(593.073) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spare parts |
|
12.827 |
4.550 |
|
|
|
Tools and equipment’s |
|
17.017 |
0.862 |
|
|
|
Construction materials |
|
50.675 |
128.704 |
|
|
|
Capital goods (including capital work-in-progress) |
|
312.851 |
77.825 |
|
|
TOTAL IMPORTS |
NA |
393.370 |
211.941 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per
Share (INR ) |
4.69 |
3.10 |
(3.82) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Maturities of Long term borrowings |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
3357.410 |
4706.661 |
|
|
|
|
|
|
Net cash generated from operating activities |
NA |
3033.568 |
4486.235 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
43.63 |
28.38 |
34.84 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.37 |
12.86 |
10.48 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
343.85 |
336.52 |
395.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.22 |
0.32 |
0.05 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.63 |
0.63 |
0.17 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.72 |
0.70 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.72 |
0.61 |
0.91 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.54 |
2.28 |
3.26 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.69 |
0.62 |
0.58 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.10 |
2.43 |
0.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.89 |
1.64 |
(2.17) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.28 |
2.59 |
(2.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.80 |
8.74 |
(11.67) |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.01 |
1.00 |
0.96 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.94 |
0.47 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.30 |
0.23 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
28.81 |
21.53 |
29.74 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.01 |
1.00 |
0.96 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1.00/- |
|
|
|
|
Market Value |
INR 163.00/- |
FINANCIAL DATA
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
155.158 |
155.158 |
155.158 |
|
Reserves & Surplus |
4927.023 |
5352.095 |
6017.666 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5082.181 |
5507.253 |
6172.824 |
|
|
|
|
|
|
long-term borrowings |
98.281 |
406.213 |
246.176 |
|
Short term borrowings |
4516.890 |
2934.843 |
4223.852 |
|
Total
borrowings |
4615.171 |
3341.056 |
4470.028 |
|
Debt/Equity
ratio |
0.908 |
0.607 |
0.724 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
27360.870 |
29252.678 |
18729.203 |
|
|
|
6.914 |
-35.974 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
27360.870 |
29252.678 |
18729.203 |
|
Profit / Loss |
(593.073) |
481.095 |
728.164 |
|
|
(2.17%) |
1.64% |
3.89% |
LEGAL CASES
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE:- 04.02.2017 |
|
LODGING NO: ITXAL/311/2017 FILING DATE: 04.02.2017 Reg No: ITXA/1080/2017 Reg Date: 26.07.2017 |
|
PETITIONER:
THE PR. COMMISSIONER OF INCOME- RESPONDENT: ITD CEMENTATION INDIA LIMITED- PETN. ADV.: SURESH KUMAR (I2100)
DISTRICT: MUMBAI |
|
BENCH: DIVISION STATUS: PRE-ADMISSION CATEGORY:
TAX APPEALS Next Date: 18.04.2018
Stage: FOR REJECTION [ORIGINAL SIDE MATTERS] Coram: ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
ACT: Income Tax Act,
1961 Under Section:- 260A |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G13680186 |
100053082 |
DOHA BANK QSC |
04/10/2016 |
- |
- |
400000000.0 |
Nariman Point Branch, Sakhar Bhavan, Ground Floor,230,Block No.III,Backbay Reclamation,Nariman PointMumbaiMH400021IN |
|
2 |
G13985668 |
100036920 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
13/06/2016 |
21/09/2016 |
- |
200000000.0 |
One Forbes,Dr. V. B. Gandhi Marg, FortMumbaiMH400001IN |
|
3 |
G01819515 |
100020969 |
Axis Bank Limited |
23/03/2016 |
- |
- |
39047300.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
4 |
C81783839 |
10626169 |
Axis Bank Limited |
20/02/2016 |
- |
- |
18975600.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
5 |
C78565355 |
10619244 |
Axis Bank Limited |
20/01/2016 |
- |
- |
9645000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
6 |
C75691147 |
10612606 |
Axis Bank Limited |
16/12/2015 |
- |
- |
9680000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
7 |
C72779598 |
10607008 |
Axis Bank Limited |
20/11/2015 |
- |
- |
6101200.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
8 |
C69502987 |
10601330 |
Axis Bank Limited |
20/10/2015 |
- |
- |
16548023.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
9 |
C69257889 |
10600829 |
SYNDICATE BANK |
20/10/2015 |
- |
- |
2000000000.0 |
Mid Corporate Branch, 3rd Floor,10, Homji Street, Fort,MumbaiMH400023IN |
|
10 |
C62580477 |
10588020 |
BANK OF MAHARASHTRA |
13/08/2015 |
- |
- |
2000000000.0 |
Industrial Finance Branch, Apeejay House,130, B.S. Marg, Fort,MumbaiMH400001IN |
UNSECURED LOANS
|
PARTICULARS |
31.12.2017 (INR
In Million) |
31.12.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Commercial paper |
NA |
1750.000 |
|
|
|
|
|
Total |
NA |
1750.000 |
CORPORATE
INFORMATION [As on 31.12.2016]
ITD Cementation India Limited (‘ITD Cem’ or ‘the Company’) was incorporated in 1978 and is engaged in construction of a wide variety of structures like maritime structures, mass rapid transport systems (MRTS), dams & tunnels, airports, highways, bridges & flyovers and other foundations and specialist engineering work. The activities of the Company comprise only one business segment viz Construction.
CONTINGENT
LIABILITIES:
|
Particulars |
31.12.2017 (INR
In Million) |
31.12.2016 (INR
In Million) |
|
Guarantees
given by banks in respect of contracting commitments in the normal course of
business |
|
|
|
for the Company |
NA |
3924.131 |
|
for Joint Ventures |
NA |
324.195 |
|
Letter of credit limit utilized by joint ventures |
NA |
61.077 |
|
Corporate Guarantee given to bank on behalf of Joint Ventures |
NA |
4865.100 |
|
The Company has a number of claims on customers for price escalation and / or variation in contract work. In certain cases which are currently under arbitration, the customers have raised counter-claims. The Company has received legal advice that none of the counter-claims are legally tenable. Accordingly no provision is considered necessary in respect of these counter claims |
NA |
1311.677 |
|
Sales Tax matters pending in appeals |
NA |
400.627 |
|
Income Tax matters pending in appeal |
NA |
148.038 |
|
Excise matter pending in appeal |
NA |
5.170 |
* It is not practicable for the company to estimate the timings of cash outflows, if any, in respect of the above pending resolution of the respective proceedings. The Company does not expect any reimbursements in respect of the above contingent liabilities other than stated therein above. Future cash outflows in respect of the above are determinable only on receipt of judgments/ decisions pending with various forums/ authorities. The Company does not expect any outflow of economic resources in respect of the above and therefore no provision is made in respect thereof.
FIXED ASSETS [As on
31.12.2016]
·
Freehold Land
·
Buildings
·
Plant and Machinery
·
Office equipment
·
furniture
·
Vehicles
PRESS RELEASES:
ITDC Q1 NET PROFIT
JUMPS TWO-FOLD AT INR 187.500 MILLION
Aug 14, 2017
The company had
posted a net profit of INR 94.100 Million during the same period of previous
fiscal, ITDC said in a Bse filing.
State-run India Tourism Development Corporation (ITDC)
today reported a two-fold jump in net profit at INR 187.500 Million for
the first quarter ended June 30, 2017.
The company had posted a net profit of INR 94.100
Million during the same period of previous fiscal, ITDC said in a BSE filing.
Total income during the quarter under review
stood at INR 961.900 Million as against INR 914.100 Million in the year-ago
period, up 5.22 per cent.
The company's revenue from the hotel division
during the period was INR 637.700 Million as compared to INR 665.900 Million in
the corresponding quarter of last fiscal.
The state-run firm is looking to divest or
offload its stake in all hotels run by it except Ashok and Samrat hotels in the
national capital.
The company said the process of divestment is
going on.
The hotels in which the divestment is under
process include, Hotel Pondicherry Ashok, Hotel Jaipur Ashok, Hotel Kalinga
Ashok and Hotel Lalitha Mahal Palace, among others.
The government is looking at leasing ITDC
hotels with management right to private companies as part of its efforts to
monetise the properties owned by the state-run firm.
Shares of the company ended 8.82 per cent up at INR 482.85 on BSE.
ITD CEMENTATION
PLUNGES 10% AFTER Q3 PROFIT SHEDS 57%
Feb 22, 2017
The company
has reported 56.8 percent decline in its consolidated Q3 net profit at INR
130.000 mILLION against inr 301.000 million, in the same quarter last year
Shares of ITD
Cementation India plunged 10 percent intraday Wednesday on the back
of weak numbers declared by the company for the quarter ended December 2016
(Q3).
It has reported 56.8 percent decline in its consolidated Q3 net profit at INR
130.000 Million against INR 301.000 Million, in the same quarter last year.
Total income was down 31.3 percent at INR 7299.000 Million versus INR 10632.000
Million.
The company's operating profit (EBITDA) fell 15.2 percent at INR 556.000
Million, while EBITDA margin was up at 7.6 percent.
It has incurred tax expense of INR 126.000 Million versus INR 32.000 Million.
S
Ramnath, CFO of ITD Cementation in an interview with CNBC-TV18 said, “The
company expects 8-10 percent growth in topline and significant improvement in
bottomline this year. The margins & RoE of the company should improve
materially going forward.”
At 09:27 hrs ITD Cementation India was quoting at INR 1513.000 Million,
down INR 95.000 Million, or 5.91 percent on the BSE.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.96 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
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.