|
|
|
MIRA INFORM REPORT
|
Report No. : |
497390 |
|
Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
L&T CONSTRUCTION EQUIPMENT LIMITED (w.e.f.
01.05.2013) |
|
|
|
|
Formerly Known
As : |
LANDT-KOMATSU LIMITED |
|
|
|
|
Registered
Office : |
L&T House Ballard Estate, Mumbai – 400001, Maharashtra
|
|
Tel. No.: |
91-22-67525656 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
29.07.1997 |
|
|
|
|
Com. Reg. No.: |
11-109700 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1200.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119MH1997PLC109700 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0797015175 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL4175C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of construction equipment and
hydraulic components. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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 |
|
Maximum credit limit: |
USD 6700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a wholly owned subsidiary of “LARSEN AND TOUBRO LIMITED” India
and was incorporated in the year 1997. It is a Manufacture
of construction equipment and hydraulic components. For the financial year 2016, the company
has achieved 18.15% growth in its revenue as compared to previous year
revenue along with low profit margin of 0.13%. The rating takes into consideration
financial sound profile of the company marked by average net worth base along
with strong debt coverage indicators due to debt free balance sheet profile. Rating also derives strength from company’s
established track record of business operations. Rating also takes into consideration strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced management team. However, these rating strengths are partially offset by unfavourable
gap between trade payables and trade receivables. Business is active. Payment seems to be slow but correct. In the view aforesaid, the company can be considered good for business
dealings at usual trade terms and conditions. Note: As per the Registrar of Companies date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but documents related to financial
for the year 31.03.2017 are not available from any sources. |
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
NOT AVAILABLE
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 20.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (91-22-67525656)
91-22-61774200 / 22618181
CONTINUOUSLY RINGING
LOCATIONS
|
Registered Office : |
L&T House, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-61774200
/ 22618181 / 67525656 |
|
Fax No.: |
91-22-67525858 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Bangalore Works, Byatarayannapura, Bellary Road, Bangalore-560092,
Karnataka, India |
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Located At: |
|
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Branches: |
Located At:
|
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Revathy Ashok |
||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
139/6-2 Domlur Layout, Sharadamma Layout, Bangalore-560071, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.06.1960 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
09.09.2015 |
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DIN No. : |
00057539 |
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|
Other Directorship:
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|
Name : |
Mr. Komandur Padmanabhan Raghavan |
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|
Designation : |
Director |
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|
Address : |
Flat No.7, Hemakunj, 34, Postal Colony First Street, West Mambalam
Chennai – 600033, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.08.1948 |
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Date of Appointment : |
09.09.2015 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00250991 |
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|
Other Directorship:
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|||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Subramanian Ramakrishnan Subramanian |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
4G, K G Srivatsava Gardens, 9, South Avenue Road, Srinagar Colony, Saidapet,
Chennai – 600015, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.10.1954 |
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Date of Appointment : |
30.08.2013 |
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|
DIN No. : |
03278824 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Venkatasubramanian |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
6D and E, KG Towers, 30 and 30A, 100 Feet Bypass Road, Velacherry
Chennai 600042, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.05.1960 |
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Date of Appointment : |
18.09.2014 |
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|
DIN No. : |
06900806 |
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|
Other Directorship:
|
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Arvind Kumar Garg |
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|
Designation : |
Director |
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|
Address : |
#702, Richmond Place Apartments No.3, Convent Road Bangalore North
560025, Karnataka, India |
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|
Date of Appointment : |
18.09.2014 |
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|
DIN No. : |
06903297 |
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KEY EXECUTIVES
|
Name : |
Mr. Srivathsan Lakshminarayanan Achar |
|
Designation : |
Chief Finance Executive |
|
Address : |
#866 Midhila Deluxe, Flat No 215, 2nd Floor, 2nd Main, Opposite
Kalyana Mantapa Kogilu, Main Road, Mar Yelahanka, Bangalore-560064,
Karnataka, India |
|
PAN No. : |
ACPPS2388J |
|
Date of Birth/Age : |
15.04.1966 |
|
Date of Appointment : |
15.07.2014 |
|
|
|
|
Name : |
Mr. D. Keshava Kumar |
|
Designation : |
Manager |
|
Address : |
No. 1160, 21st Cross, 18th Main, HBR Layout, 5th
Block, 1st Stage, Bangalore – 560043, Karnataka, India |
|
Date of Birth/Age : |
13.12.1957 |
|
PAN No. : |
AAVPK2124L |
|
Date of Appointment : |
16.04.2013 |
|
|
|
|
Name : |
Mr. Prasad Vishnu Shanbhag |
|
Designation : |
Company Secretary |
|
Address : |
27/401, Shri Shakti Nagar CHS, Shakti Nagar Complex, C.S.C. Road 3, Dah
Mumbai, Maharashtra, India |
|
PAN No. : |
AALPS8358L |
|
Date of Birth/Age : |
03.11.1971 |
|
Date of Appointment : |
23.12.2013 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Larsen and Toubro Limited, India |
|
119999399 |
|
Venkatasubramanian Venkatachalam Jointly With Larsen and Toubro Limited, India |
|
100 |
|
Yellapa Sravankumar Jointly With Larsen and Toubro Limited, India |
|
1 |
|
Arvind Kumar Garg Jointly With Larsen and Toubro Limited, India |
|
100 |
|
Narayanaswamy Hariharan Jointly With Larsen and Toubro Limited, India |
|
100 |
|
Subhodh Shetty Jointly With Larsen and Toubro Limited, India |
|
100 |
|
Arnob Mondal Jointly With Larsen and Toubro Limited, India |
|
100 |
|
S. R. Subramanian Jointly With Larsen and Toubro Limited, India |
|
100 |
|
|
|
|
|
Total |
|
120000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 20.06.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of construction equipment and
hydraulic components. (Registered Activity) |
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|
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||||||||
|
Products / Services
: |
|
||||||||
|
|
|
||||||||
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Brand Names : |
Not Available |
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|
||||||||
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Agencies Held : |
Not Available |
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||||||||
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Exports : |
Not Divulged |
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|
||||||||
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Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Parsn Manere, Block A-4 III, Floor, 602 Anna Salai, Chennai -600006, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS2512D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company (AS
ON 31.03.2016): |
|
|
|
|
|
Fellow Subsidiary
(AS ON 31.03.2016): |
|
|
|
|
|
Associate till 20th
Dec 2015 (AS ON 31.03.2016): |
|
|
|
|
|
Associate (AS ON
31.03.2016): |
|
CAPITAL STRUCTURE
AS ON 20.06.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
INR 10/- each |
INR 1200.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
INR 10/- each |
INR 1200.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1200.000 |
1200.000 |
1200.000 |
|
(b) Reserves and Surplus |
1158.832 |
1150.839 |
947.980 |
|
(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) |
2358.832 |
2350.839 |
2147.980 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
119.830 |
|
(b) Deferred tax liabilities (Net) |
31.813 |
33.635 |
48.706 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
16.962 |
15.000 |
13.513 |
|
Total Non-current
Liabilities (3) |
48.775 |
48.635 |
182.049 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
499.998 |
450.000 |
250.000 |
|
(b) Trade
payables |
1287.850 |
781.257 |
660.663 |
|
(c) Other
current liabilities |
997.036 |
391.132 |
228.622 |
|
(d) Short-term
provisions |
99.399 |
213.796 |
113.744 |
|
Total Current
Liabilities (4) |
2884.283 |
1836.185 |
1253.029 |
|
|
|
|
|
|
TOTAL |
5291.890 |
4235.659 |
3583.058 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1185.084 |
1161.633 |
894.636 |
|
(ii)
Intangible Assets |
10.744 |
0.000 |
4.933 |
|
(iii) Tangible assets
capital work-in-progress |
270.183 |
144.813 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
17.363 |
39.556 |
21.552 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1483.374 |
1346.002 |
921.121 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
353.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1734.155 |
1329.516 |
701.107 |
|
(c) Trade
receivables |
1172.939 |
394.911 |
470.105 |
|
(d) Cash and
bank balances |
119.247 |
2.222 |
496.862 |
|
(e)
Short-term loans and advances |
429.175 |
1163.008 |
993.863 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3808.516 |
2889.657 |
2661.937 |
|
|
|
|
|
|
TOTAL |
5291.890 |
4235.659 |
3583.058 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
4605.067 |
3897.430 |
5100.237 |
|
|
Other Income |
80.743 |
83.579 |
104.235 |
|
|
TOTAL |
4685.810 |
3981.009 |
5204.472 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2932.457 |
3002.079 |
3844.880 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(358.525) |
(552.344) |
121.902 |
|
|
Employee benefit expense |
599.859 |
543.875 |
493.204 |
|
|
CSR expenditure |
2.465 |
1.283 |
0.000 |
|
|
Other expenses |
1369.826 |
521.333 |
458.637 |
|
|
TOTAL |
4546.082 |
3516.226 |
4918.623 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
139.728 |
464.783 |
285.849 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
53.075 |
53.620 |
35.044 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
86.653 |
411.163 |
250.805 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
76.416 |
79.540 |
89.430 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
10.237 |
331.623 |
161.375 |
|
|
|
|
|
|
|
Less |
TAX |
4.339 |
112.222 |
46.157 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
5.898 |
219.401 |
115.218 |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
806.700 |
600.200 |
1619.700 |
|
|
|
|
|
|
|
|
Depreciation charge against retained earnings |
0.000 |
12.900 |
0.000 |
|
|
|
|
|
|
|
|
Dividend paid for the previous year (Including dividend
distribution tax) |
0.000 |
0.000 |
1123.200 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
11.500 |
|
|
Balance
Carried to the B/S |
812.600 |
806.700 |
600.200 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
29.543 |
5.724 |
3.517 |
|
|
TOTAL EARNINGS |
29.543 |
5.724 |
3.517 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
45.114 |
104.311 |
112.338 |
|
|
Components and spare
parts |
155.246 |
161.468 |
266.277 |
|
|
Capital Goods |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
200.360 |
265.779 |
378.615 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.05 |
1.83 |
0.96 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
125.000 |
59.915 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
367.860 |
(53.680) |
1567.471 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
328.489 |
(210.281) |
1505.253 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
92.97 |
36.98 |
33.64 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.93 |
9.87 |
10.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
160.30 |
94.99 |
62.72 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.08 |
0.35 |
0.41 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.10 |
0.36 |
0.32 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.55 |
0.46 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.21 |
0.24 |
0.20 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.22 |
0.78 |
0.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.62 |
0.56 |
0.42 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.63 |
8.67 |
8.16 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.13 |
5.63 |
2.26 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.11 |
5.18 |
3.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.25 |
9.33 |
5.36 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.32 |
1.57 |
2.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.72 |
0.85 |
1.56 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.45 |
0.56 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.42 |
0.48 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.32 |
1.57 |
2.12 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1200.000 |
1200.000 |
1200.000 |
|
Reserves & Surplus |
947.980 |
1150.839 |
1158.832 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2147.980 |
2350.839 |
2358.832 |
|
|
|
|
|
|
Long-term borrowings |
119.830 |
0.000 |
0.000 |
|
Short term borrowings |
250.000 |
450.000 |
499.998 |
|
Current maturities of
long-term debts |
59.915 |
125.000 |
0.000 |
|
Total
borrowings |
429.745 |
575.000 |
499.998 |
|
Debt/Equity
ratio |
0.200 |
0.245 |
0.212 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5100.237 |
3897.430 |
4605.067 |
|
|
|
(23.583) |
18.157 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
5100.237 |
3897.430 |
4605.067 |
|
Profit/ (Loss) |
115.218 |
219.401 |
5.898 |
|
|
2.26
% |
5.63
% |
0.13
% |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
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 |
No |
|
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 |
STATE OF COMPANY AFFAIRS (AS ON 31.03.2016):
The Company has
been in the business of manufacturing construction and hydraulic equipments at
its factory in Bytarayanapura. The area in and around the manufacturing
facility has got converted into a residential hub and there are restrictions
placed on movement of heavy vehicles as well as operating hours of the
facility. This has resulted in the operations of the Company getting affected.
The Company therefore decided to shift its manufacturing operations to another
parcel of land located at Doddaballapur on the outskirts of the city. The
Hydraulic equipment factory has already commenced operations at the new
location while the Machinery Works is likely to shift in the first half of
2016-17.
Further, with a
view to maximize the shareholders' value, the Company has initiated the process
to develop the existing parcel of land at Bytarayanapura for Residential and
Commercial purposes. The Company has initiated the process of obtaining the
necessary regulatory approvals for the same. The Company has also entered into
a Development Management Agreement with L&T Realty Limited for executing
this real estate development.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
500.000 |
450.000 |
|
Total |
500.000 |
450.000 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B66644907 |
10060177 |
BNP PARIBAS |
05/07/2007 |
- |
21/01/2013 |
205000000.0 |
20 COLLYER QUAY,#01-01 TUNG CENTRE,SINGAPORENA049319SG |
|
2 |
A90969213 |
90140643 |
STATE BANK OF INDIA |
11/06/1998 |
- |
03/08/2010 |
500000000.0 |
CORPORATE ACCOUNTS GROUP BRANCHNARIMAN POINTMUMBAIMH400002IN |
|
3 |
A90970203 |
90142139 |
STATE BANK OF INDIA |
04/05/1998 |
- |
03/08/2010 |
935000000.0 |
CORPORATE ACCOUNTS GROUP BRANCHKILICK HOUSE; CHARANJIT RAI MARGBOMBAYMH400001IN |
|
4 |
A90007121 |
10012802 |
CORPORATION BANK |
19/07/2006 |
- |
21/07/2010 |
200000000.0 |
INDUSTRIAL FINANCE BRANCHNO.1, QUEEN'S ROADBANGALOREKA560001IN |
|
5 |
A87989083 |
90142105 |
CORPORATION BANK |
28/02/1998 |
02/09/2000 |
18/06/2010 |
671500000.0 |
INDUSTRIAL FINANCE BRANCHQUEEN'S ROADBANGALOREKAIN |
|
6 |
A79797676 |
10055767 |
BNP PARIBAS |
07/06/2007 |
- |
22/02/2010 |
400000000.0 |
LANDMARK BUILDING, 3RD FLOOR,21/15, M. G. ROAD,BANGALOREKA560001IN |
|
7 |
A79369682 |
90144473 |
THE HONGKONG AND SHANGHAI BANKING CORP LTD. |
29/04/2003 |
- |
22/02/2010 |
300000000.0 |
7M.G. ROADBANGALOREKAIN |
|
8 |
A79370060 |
90144467 |
THE THONKONG AND SHANGHAI BANKING CORPN. LIMITED |
24/04/2003 |
14/05/2004 |
22/02/2010 |
538500000.0 |
7; M.G. ROADBANGALOREKAIN |
|
9 |
A79370417 |
90141134 |
THE HONGKONG AND SHANGHAI BANKING CORP LTD. |
24/04/2003 |
- |
22/02/2010 |
538500000.0 |
7M.G. ROADBANGALOREMHIN |
|
10 |
A78209715 |
90141281 |
THE THONKONG AND SHANGHAI BANKING CORPN. LIMITED |
19/04/2004 |
- |
19/01/2010 |
50000000.0 |
7; M.G. ROADBANGALOREKAIN |
FIXED ASSETS:
Tangible assets
- Land
- Furniture and fixtures
- Office equipment
- Plant and equipment
- Vehicles
Intangible assets
- Computer software
- Know-how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 90.56 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
NO |
|
--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.