|
|
|
MIRA INFORM REPORT
|
Report No. : |
498955 |
|
Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
APOLLO MICRO SYSTEMS LIMITED (w.e.f. 01.04.2017) |
|
|
|
|
Formerly Known
As : |
APOLLO MICROSYSTEMS LIMITED APOLLO MICRO SYSTEMS PRIVATE LIMITED |
|
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|
Registered
Office : |
Plot No 128/A, Road No. 12, Bel Road, IDA-Mallapur, Uppal Mandal, Ranga Reddy, District Hyderabad-500076, Telangana |
|
Tel. No.: |
91-40-27167000-99 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
03.03.1997 |
|
|
|
|
Com. Reg. No.: |
36-026556 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 137.117 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200TG1997PLC026556 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
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TIN No: |
36710240569 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
36AABCA9924D1ZT |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCA9924D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Design, Research and Development
of systems which are used in Missile Programmes (weapon Systems Electronics),
Underwater Missile programmes (weapon Systems Electronics), Avionic Systems.
Ship Borne Systems, Submarine Systems, Ground Support Equipment, Launcher
Control Systems. Gun Control Systems, Decoy Systems, Telematics, Home land
Security, Industrial Automation, Telemetry Systems, Ground Checkout systems
for Space Applications.
(Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 : |
Regular |
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|
Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1997 as a private limited company later in January 2018 the company got converted into public limited company. For the financial year 2017, the company has achieved decent revenue growth by 32.84% as compared to its previous year and has clocked decent profitability margin of 8.07% during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operation backed by its extensive experience of its promoters in manufacturing valves along with strong relationship with its customers and market reputation in various sectors. Further the company is listed on BSE at the price held at INR 275.75 against its face value of INR 10. As per quarterly results till December 2017, the company has achieved net revenue of 548.5 million and has clocked a net profit margin of 9.32%. However, these rating gets partially offset by and vulnerability of operating margins to fluctuations in raw material prices and the intensely competitive valve manufacturing industry characterised by the presence of large players as well as small unorganised players. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealing at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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 21.03.2018
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
Continuously Ringing (91-40-27176063/ 27175228)
Management non-cooperative (Tel No.: 91-40-27154365/ 27152281 )
LOCATIONS
|
Registered Office/ Factory : |
Plot No 128/A, Road No. 12, Bel Road, IDA-Mallapur, Uppal Mandal, Ranga Reddy, District Hyderabad-500076, Telangana, India |
|
Tel. No.: |
91-40-27167000-99 |
|
Fax No.: |
91-40-27150820 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Karunakar Reddy Baddam |
|
Designation : |
Managing Director |
|
Address : |
Flat No.202, Silver Heights Apartment, Sai Enclave, Habshiguda,
Hyderabad-500007, Telangana, India |
|
Date of Appointment : |
03.03.1997 |
|
DIN No: |
790139 |
|
|
|
|
Name : |
Mr. Srinivas Pagadala |
|
Designation : |
Director |
|
Address : |
Flat No.301, Madhava Apartment, Hill Colony, Khairatabad, Hyderabad
500004, Telangana, India |
|
Date of Appointment : |
21.08.2017 |
|
DIN No: |
2669528 |
|
|
|
|
Name : |
Sri Lakshmi Reddy Vangeti |
|
Designation : |
Director |
|
Address : |
1-10-274 to 278, Lane No.5 St. No.1, Brahmanwadi, Hyderabad 500003,
Telangana, India |
|
Date of Appointment : |
01.04.1999 |
|
DIN No: |
2757567 |
|
|
|
|
Name : |
Addepalli Krishna Sai Kumar |
|
Designation : |
Wholetime Director |
|
Address : |
Jawrly Plot No 92, Jawahar Rail Colony, Sikh Road,
Secunderabad-500009, Telangana, India |
|
Date of Appointment : |
01.07.2011 |
|
DIN No: |
3601692 |
|
|
|
|
Name : |
Chandrapati Venkata Siva Prasad |
|
Designation : |
Wholetime Director |
|
Address : |
Flat No.103, Siddhartha Kalanjali Arcad, Ward-8, Jeedimetla,
Qutubullapur, Ranga Reddy, District Hyderabad-500055, Telangana, India |
|
Date of Appointment : |
01.07.2011 |
|
DIN No: |
3601703 |
|
|
|
|
Name : |
Mr. Raghupathy Goud Theegala |
|
Designation : |
Director |
|
Address : |
1-8-506/55, Prakash Nagar, Near Registration Office, Begumpet
Secunderabad 500016 Tg In |
|
Date of Appointment : |
21.08.2017 |
|
DIN No: |
7785738 |
KEY EXECUTIVES
|
Name : |
Vitta Chaitanya Siva Shankar |
|
Designation : |
Company Secretary |
|
Address : |
Flat No 83, Block F, Bharani Complex Minister Road, Begumpet,
Hyderabad-500016, Telangana, India |
|
Date of Appointment : |
01.02.2017 |
|
DIN No: |
CCOPS8380M |
|
|
|
|
Name : |
Sudarshan Chiluveru |
|
Designation : |
Chief Finance Officer |
|
Address : |
1-1-403/C/7, Flat No. A3, Sai Sri Estates, Gandhi Nagar, Near Canara
Bank, Secunderabad-500080, Telangana, India |
|
Date of Appointment : |
01.04.2017 |
|
DIN No: |
AASPC7991A |
|
|
|
|
Committees of the
Board |
|
|
Name : |
Corporate Social Responsibility Committee: - Mr. Karunakar Reddy Baddam, Chairman Mrs. Sri t akshmi Reddy Vangeti, Member Mr. Krishna Sai Kumar Addeoalli. Member |
MAJOR SHAREHOLDERS
As on DECEMBER 2017
|
Category
of shareholder |
No. of fully paid up equity shares
held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of |
|
|
(A) Promoter and Promoter Group |
13271700 |
63.92 |
|
|
(B) Public |
7492186 |
36.08 |
|
|
Grand
Total |
20763886 |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Design, Research and Development
of systems which are used in Missile Programmes (weapon Systems Electronics),
Underwater Missile programmes (weapon Systems Electronics), Avionic Systems.
Ship Borne Systems, Submarine Systems, Ground Support Equipment, Launcher
Control Systems. Gun Control Systems, Decoy Systems, Telematics, Home land
Security, Industrial Automation, Telemetry Systems, Ground Checkout systems
for Space Applications.
(Registered Activity) |
||||
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
S.T. Mohite and Company Chartered Accountants |
|
Address : |
G5, B-Block, Paragon Venkatadri Apartments, 3-4-812, Street No.1
Barkatpura, Hyderabad – 500027, Telangana, India |
|
Mobile No.: |
91-9848994508/ 9848359721 |
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E-Mail : |
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|
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|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Enterprises controlled by KMP: |
Apollo Food and Beverages Private Limited |
CAPITAL STRUCTURE
After: 26.08.2017
Authorised Capital : INR 270.000 million
Issued, Subscribed & Paid-up Capital: INR 207.639
million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
INR 10/- each |
INR 140.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13711700 |
Equity Shares |
INR 10/- each |
INR 137.117 Million |
|
|
|
|
|
a) Terms /
rights attached to equity shares
The company has only one class of share capital being Equity Shares having a face value of INR 10/- per share. Each shareholder is entitled to one vote per share. The company declares and pays dividend in lndian rupees. The dividend payable on equity shares is subjected to recommendations of Board of Directors and shareholders in Annual General Meeting, except in the case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company in proportionate to their shareholdings holding.
(d) The Company is not having holding company or Subsidiaries companies or joint ventures and associates.
b) Shares held by
holding / ultimate holding company and / or their subsidiaries / associates
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
At the beginning of the year |
13711700 |
INR 137.117 Million |
|
issued during the year |
---- |
|
|
Total |
13711700 |
INR 137.117
Million |
c) Details of shareholders
holding more than 5% of the shares in the Company
|
Particulars |
31.03.2017 |
|
|
|
% of holding |
|
|
|
|
|
|
Equity shares of INR 10/- each |
|
--- |
|
Karunakar Reddy Baddam |
|
96.79 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
137.117 |
137.117 |
137.117 |
|
(b) Reserves & Surplus |
529.151 |
358.602 |
233.481 |
|
(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) |
666.268 |
495.719 |
370.598 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
135.302 |
156.837 |
129.147 |
|
(b) Deferred tax liabilities (Net) |
49.050 |
6.542 |
3.647 |
|
(c) Other long term
liabilities |
92.981 |
65.218 |
76.674 |
|
(d) long-term
provisions |
3.839 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
281.172 |
228.597 |
209.468 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
655.643 |
489.938 |
386.697 |
|
(b) Trade
payables |
678.718 |
715.666 |
333.043 |
|
(c) Other
current liabilities |
134.534 |
82.592 |
15.227 |
|
(d) Short-term
provisions |
42.235 |
17.074 |
13.773 |
|
Total Current
Liabilities (4) |
1511.130 |
1305.270 |
748.740 |
|
|
|
|
|
|
TOTAL |
2458.570 |
2029.586 |
1328.806 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
299.820 |
211.365 |
243.481 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
128.646 |
101.182 |
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 Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
428.466 |
312.547 |
243.481 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1140.777 |
726.002 |
424.630 |
|
(c) Trade
receivables |
714.640 |
863.377 |
595.131 |
|
(d) Cash
and cash equivalents |
87.783 |
69.431 |
0.230 |
|
(e)
Short-term loans and advances |
85.166 |
56.379 |
64.564 |
|
(f) Other
current assets |
1.738 |
1.850 |
0.770 |
|
Total
Current Assets |
2030.104 |
1717.039 |
1085.325 |
|
|
|
|
|
|
TOTAL |
2458.570 |
2029.586 |
1328.806 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2112.666 |
1590.448 |
1081.530 |
|
|
Other Income |
5.332 |
4.869 |
6.153 |
|
|
TOTAL |
2117.998 |
1595.317 |
1087.683 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1938.895 |
1447.622 |
877.706 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(429.141) |
(285.698) |
(121.837) |
|
|
Employees benefits
expense |
60.329 |
66.677 |
64.412 |
|
|
Exceptional Items |
2.334 |
4.040 |
0.000 |
|
|
Other expenses |
136.004 |
108.912 |
82.134 |
|
|
TOTAL |
1708.421 |
1341.553 |
902.415 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
409.577 |
253.764 |
185.268 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
114.376 |
81.437 |
51.122 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
295.201 |
172.327 |
134.146 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
39.259 |
27.237 |
39.430 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
255.942 |
145.090 |
94.716 |
|
|
|
|
|
|
|
Less |
TAX |
85.394 |
19.969 |
14.987 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
170.548 |
125.121 |
79.729 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.696 |
2.686 |
NA |
|
|
TOTAL EARNINGS |
0.696 |
2.686 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
25.069 |
16.541 |
NA |
|
|
TOTAL IMPORTS |
25.069 |
16.541 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12.44 |
9.13 |
5.81 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
87.056 |
61.575 |
0.000 |
|
Cash generated from operations |
161.193 |
148.579 |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
115.974 |
(127.464) |
NA |
QUARTERLY
RESULTS
|
Particulars |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
|
|
|
|
|
Net Sales |
|
672.610 |
548.080 |
|
Total Expenditure |
|
512.970 |
429.140 |
|
PBIDT (Excl OI) |
|
159.640 |
118.940 |
|
Other Income |
|
0.710 |
0.460 |
|
Operating Profit |
|
160.350 |
119.400 |
|
Interest |
|
29.770 |
28.400 |
|
Exceptional Items |
|
NA |
NA |
|
PBDT |
|
130.580 |
91.000 |
|
Depreciation |
|
17.240 |
14.800 |
|
Profit Before Tax |
|
113.340 |
76.200 |
|
Tax |
|
39.140 |
25.140 |
|
Provisions and
contingencies |
|
NA |
NA |
|
Profit After Tax |
|
74.220 |
51.060 |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
74.220 |
51.060 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
123.47 |
198.14 |
200.85 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.96 |
1.84 |
1.82 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
127.77 |
180.45 |
138.50 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.36 |
0.35 |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.96 |
0.81 |
0.76 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.71 |
0.75 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.32 |
1.43 |
1.39 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.27 |
2.63 |
2.02 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.64 |
0.63 |
0.66 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.58 |
3.12 |
3.62 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
8.07 |
7.87 |
7.37 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.94 |
6.16 |
6.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
25.60 |
25.24 |
21.51 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.34 |
1.32 |
1.45 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.59 |
0.76 |
0.88 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.27 |
0.24 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
6.40 |
5.17 |
3.76 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.34 |
1.32 |
1.45 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 275.75/- |
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 |
137.117 |
137.117 |
137.117 |
|
Reserves & Surplus |
233.481 |
358.602 |
529.151 |
|
Net
worth |
370.598 |
495.719 |
666.268 |
|
|
|
|
|
|
long-term borrowings |
129.147 |
156.837 |
135.302 |
|
Short term borrowings |
386.697 |
489.938 |
655.643 |
|
Current maturities of
long-term debts |
0.000 |
61.575 |
87.056 |
|
Total
borrowings |
515.844 |
708.350 |
878.001 |
|
Debt/Equity
ratio |
1.392 |
1.429 |
1.318 |
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 |
1081.530 |
1590.448 |
2112.666 |
|
|
|
47.055 |
32.835 |
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 |
1081.530 |
1590.448 |
2112.666 |
|
Profit (Loss) |
79.729 |
125.121 |
170.548 |
|
|
7.37% |
7.87% |
8.07% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
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 |
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'THE COMPANY'S
AFFAIRS:
During the period, the Company has achieved revenue of INR 2112.666 million and net profit of INR 170.548 million as compared to revenue of INR 1590.448 million and net profit of INR 125.121 million during the previous FY 2015-16. There was no change in the nature of business of the company.
BUSINESS OUTLOOK:
The changing global security paradigm requires new ways of thinking: new threats therefore new weapon systems, new technologies and new organizational structures and partnerships for cooperation and risk mitigation. This new security environment is driving India's need for cutting-edge technology weapons and equipment. Encouragement of Private industry in Defense Production by Government and G2G contracts for Weapon and other Defense System exports is a boost for Defense Electronics companies.
The company has been working on cutting edge technologies in Electronics and Electro -Mechanical systems which arc custom built, specific to client needs. These systems are integrated as On-Board equipment and Ground Support Equipment for Aerospace, Defense and Space markets. There is a constant requirement for growth in the Programs which they have been working and they expect the existing facility to meet these requirements.
They are also contemplating to bid for turnkey projects which significantly consolidate our market position aiming to enter niche league o1'business in this segment competing with large private defense entities.
CORPORATE INFORMATION
The Company was incorporated on March 03, 1997. It got converted in to public limited company with effect from April 01, 2017. AMS is in to the supply of Electronics and Electro-mechanical systems and components including Design, Research and Development of systems which are used in Missile Programmes (weapon Systems Electronics), Underwater Missile programmes (weapon Systems Electronics), Avionic Systems. Ship Borne Systems, Submarine Systems, Ground Support Equipment, Launcher Control Systems. Gun Control Systems, Decoy Systems, Telematics, Home land Security, Industrial Automation, Telemetry Systems, Ground Checkout systems for Space Applications.
NOTE: Registered office of the company has been shifted from “Vaishanavi Complex, 1st Floor, Street No.6, Habsiguda, Hyderabad – 500007, Telangana, India” to the present address w.e.f. 02.04.2017.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other Corporate |
11.791 |
14.123 |
|
Short-term
borrowings |
|
|
|
Loan from Managing Director |
29.034 |
5.930 |
|
Total |
40.825 |
20.053 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G78890423 |
100159419 |
Axis Bank Limited |
14/02/2018 |
- |
- |
250000000.0 |
corporate banking branch, 1st floor, g pullareddybuilding, begumpet road, greenlandshyderabadTG500016IN |
|
2 |
G37652724 |
100081461 |
RBL BANK LIMITED |
19/12/2016 |
- |
- |
100000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMa416001IN |
|
3 |
G22108997 |
100060050 |
RELIANCE CAPITAL LTD |
30/09/2016 |
- |
- |
20000000.0 |
"H" BLOCK 1ST FLOORDhirubhai Ambani Knowledge City, KoparkhairneNavi MumbaiMa400710IN |
|
4 |
G27661693 |
100062878 |
EDELWEISS RETAIL FINANCE LIMITED |
26/09/2016 |
- |
- |
16089505.0 |
Edelweiss House, Off. C.S.T Road,KalinaMumbaiMa400098IN |
|
5 |
G50354653 |
100030960 |
State Bank of India |
25/04/2016 |
23/03/2017 |
- |
909100000.0 |
COMMERCIAL BRANCHS P ROADSECUNDERABADTG500003IN |
|
6 |
G06819601 |
100028886 |
ICICI BANK LIMITED |
19/11/2015 |
19/11/2015 |
- |
200000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGu390015IN |
|
7 |
C39732565 |
90134290 |
STATE BANK OF HYDERABAD |
13/12/1999 |
14/11/2014 |
- |
730500000.0 |
HABSIGUDA BRANCHHABSIGUDAHYDERABADTG500007IN |
|
8 |
B81193484 |
10343282 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
26/03/2012 |
- |
15/07/2013 |
30000000.0 |
5-9-194, Chirag Ali Lane,P.B.No.165HYDERABADAP500001IN |
|
9 |
B81190761 |
10343262 |
ANDHRA PRADESH STATE FINANCIAL CORPORATION |
24/03/2012 |
- |
15/07/2013 |
100000000.0 |
5-9-194, Chirag Ali LaneP.B.No.165HYDERABADAP500001IN |
|
1 |
G78890423 |
100159419 |
Axis Bank Limited |
14/02/2018 |
- |
- |
250000000.0 |
corporate banking branch, 1st floor, g pullareddybuilding, begumpet road, greenlandshyderabadTG500016IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
|
31.03.2017 (INR
in Million) |
|
Outstanding Guarantees and Counter Guarantees to various Banks in respect of the guarantees given by those banks in favour of various Govt. Authorities and Others. |
|
466.732 |
|
Claim against the company not given acknowledged as debt |
|
4.885 |
|
Non fulfillment of export obligation under zero duty EPCG Scheme |
|
96.672 |
UNAUDITED STANDALONE 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 |
548.077 |
672.614 |
1642.238 |
|
Other Operating Income |
0.459 |
0.708 |
1.876 |
|
Total income from operations (net) |
548.536 |
673.322 |
1644.114 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
492.183 |
566.319 |
1333.934 |
|
Changes in inventories of finished goods. work-in-progress and stock
in trade |
(171.897) |
(181.366) |
(302.785) |
|
Employee benefits expense |
16.691 |
19.224 |
45.899 |
|
Depreciation and Amortization Expenses |
14.804 |
17.245 |
47.049 |
|
Other Expenses |
92.148 |
108.777 |
253.733 |
|
Finance Costs |
28.404 |
29.768 |
86.635 |
|
Total expenses |
472.333 |
559.967 |
1464.465 |
|
Profit/ (Loss) from ordinary activities after finance cost but before
exceptional items |
76.203 |
113.355 |
179.649 |
|
Exceptional items |
0.000 |
0.000 |
0.000 |
|
Profit/ (Loss) from ordinary activities before tax |
76.203 |
113.355 |
179.649 |
|
Tax expenses |
25.139 |
39.132 |
54.844 |
|
Net Profit / (Loss) from ordinary activities after tax |
51.064 |
74.223 |
124.805 |
|
Extraordinary item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
Net Profit / (Loss) for the period |
51.064 |
74.223 |
124.805 |
|
Comprehensive Income |
0.000 |
0.000 |
0.000 |
|
Net Profit/ (Loss) after taxes, minority interest and share of profit/(loss)
of associates |
51.064 |
74.223 |
124.805 |
|
|
|
|
|
|
Paid up equity share capital (Face Value of INR 10/-each) |
150.000 |
140.000 |
150.000 |
|
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 |
3.63 |
5.35 |
8.88 |
|
(b) Diluted |
3.47 |
5.10 |
8.49 |
Note:
- The company has adopted Indian Accounting Standards (Ind AS) prescribed u/s.133 of the companies Act, 2013 read with relevant rules issued there under. The date of transmission in to Ind AS is 1st April, 2017. The Financial Results which are published in accordance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their Meetings held on 13th February, 2018. Financial results for the quarter and nine months ended 31st December, 2016 have been restated as per IND AS. In Compliance with Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, limited reviews of the above results have been carried out by the statutory auditors.
- The Company has only one business segment, i.e. in to the supply of Electronics and Electro-mechanical systems and components which includes design, manufacturing and supplying, hence segment wise reporting is not applicable.
- There is possibility that these quarterly financial results may require adjustment before constituting the final Ind AS financial statements as of and for the year ending 31.03.2018 due to changes in financial reporting requirements arising from new or revised standards or interpretations issued by MCA or changes in the use of one or more optional exemptions from the full retrospective application as permitted under Ind AS-101 'First time adoption of Indian Accounting Standards'.
- The Company made an Initial Public Offering (IPO) in January 2018, by issue of 57,63,886 shares of face value of INR 10 each for cash at a price of INR 275* per share (*A discount of INR 12/- on the Issue Price was offered to Retail Individual Investors ("Retail Discount") and to Eligible Employees Bidding in the Employee Reservation Portion ("Employee Discount")) including a share premium of INR 265 per share, to meet the working capital requirement and general corporate purposes.
- Reconciliation between financial results as previously (referred to as previous GAAP) and IND AS for the quarter and nine months ended 31st December, 2016.
- Figures for the corresponding previous periods have been regrouped wherever necessary to facilitate comparison and gross revenue includes taxes and duties.
FIXED ASSETS
- Land
- Plant and machinery
- Vehicles
- Tools and Instruments
- Furniture and Fixture
- Computers and Software
- Office Equipment
- Building
- Electrical Fittings
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 65.22 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
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 |
|
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.