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|
MIRA INFORM REPORT
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Report No. : |
501167 |
|
Report Date : |
29.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
CENTURY EXTRUSIONS LIMITED |
|
|
|
|
Registered
Office : |
113, Park Street, ‘North’ Block, 2nd Floor, Kolkata – 700 016, West Bengal |
|
Tel. No.: |
91-33- 22291012 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
02.02.1988 |
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|
|
|
Com. Reg. No.: |
21-043705 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 80.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27203WB1988PLC043705 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1791N |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
19AABCC1791N1Z9 |
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|
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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
: |
Manufacturer of Aluminium Extruded Products and Transmission and Distribution
Line Hardware. (Registered Activity and Confirmed by management) |
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|
|
|
No. of Employees
: |
333 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 1128000 |
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|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1988 and is engaged
in manufacturing of aluminium extruded products and power transmission and
distribution line hardware.
|
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 |
BRICKWORKS |
|
Rating |
Long term borrowing : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
12.12.2017 |
|
Rating Agency Name |
BRICKWORKS |
|
Rating |
Short term borrowing : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
12.12.2017 |
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 29.03.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Taniya |
|
Designation : |
Front Office Executive |
|
Contact No.: |
91-33-22291291 |
|
Date : |
29.03.2018 |
LOCATIONS
|
Registered/ Head Office : |
113, Park Street, ‘North’ Block, 2nd Floor, Kolkata – 700 016, West Bengal, India |
|
Tel. No.: |
91-33- 2291012/1291 |
|
Fax No.: |
91-33-22495656 |
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E-Mail : |
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|
Website : |
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|
|
|
Factory : |
WBIIDC Industrial Growth
Centre, Plot No. 7A, Sector-B P.O. Rakhajungle, Pin-721301 Nimpura, Kharagpur
District West Midnapore, West Bengal, India |
|
Tel. No.: |
91-3222-233310/ 233324 |
|
Fax No.: |
91-3222-233304 |
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E-Mail : |
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Sales Offices: |
Located at: · Kanpur · Hyderabad · Bangalore |
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|
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|
Regional Marketing Offices: |
Located at: · Delhi · Mumbai · Chennai · Kolkata |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vikram Jhunjhunwala |
|
Designation : |
Managing Director |
|
Address : |
9, Pretoria Street, Kolkata - 700071, West Bengal, India |
|
Date of Birth/Age : |
05.05.1965 |
|
Date of Appointment : |
21.03.1996 |
|
DIN No.: |
00169833 |
|
|
|
|
Name : |
Mr. Madan Gopal Todi |
|
Designation : |
Director |
|
Address : |
Konark Gardens 6, Burdwan Road, Kolkata - 700027, West Bengal, India |
|
Date of Appointment : |
30.01.2006 |
|
DIN No.: |
00112568 |
|
|
|
|
Name : |
Mr. Raj Kumar Sharma |
|
Designation : |
Director |
|
Address : |
C-21, Ayudh Vihar, Plot-3 Sector-13, Dwarka, Phase-1, New Delhi - 110075, India |
|
Date of Appointment : |
27.10.2009 |
|
DIN No.: |
02813585 |
|
|
|
|
Name : |
Mr. Arun Kumar Hajra |
|
Designation : |
Director |
|
Address : |
188E, Prince Anwar Shah Road, Kolkata - 700045, West Bengal, India |
|
Date of Appointment : |
28.05.2012 |
|
DIN No.: |
05300348 |
|
|
|
|
Name : |
Mrs. Suhita Mukhopadhyay |
|
Designation : |
Director |
|
Address : |
110/15, Salimpur Road, Kolkata - 700031, West Bengal, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07144051 |
KEY EXECUTIVES
|
Name : |
Mr. Vishal Sharma |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Ms. Taniya |
|
Designation : |
Front Office Executive |
MAJOR SHAREHOLDERS
As on 31.12.2017
|
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 & Promoter
Group |
41628649 |
52.04 |
|
|
(B) Public |
38371351 |
47.96 |
|
|
Grand Total |
80000000 |
100.00 |
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 % |
|
|
A1) Indian |
|||
|
Individuals/Hindu
undivided Family |
9168967 |
11.46 |
|
|
Vikran Jhunjhunwala |
769333 |
0.96 |
|
|
Shivanshu Jhunjhunwala |
197500 |
0.25 |
|
|
Madhab Prasad Jhunjhunwala |
5500 |
0.01 |
|
|
Moulshree Jhunjhunwala |
2443700 |
3.05 |
|
|
Sita Devi Jhunjhunwala |
5752934 |
7.19 |
|
|
Any
Other (specify) |
32459682 |
40.57 |
|
|
Vintage Capital Markets
Limited |
5930125 |
7.41 |
|
|
Vintage Securities Limited |
6688831 |
8.36 |
|
|
Atash Properties and Finance Private Limited |
452300 |
0.57 |
|
|
Kutir Udyog Kendra (I) Limited |
521000 |
0.65 |
|
|
Paramsukh Properties Private
Limited |
1052500 |
1.32 |
|
|
Jeco Exports and Finance
Limited |
4830225 |
6.04 |
|
|
Century Aluminium Mfg Company
Limited |
12984701 |
16.23 |
|
|
Sub
Total A1 |
41628649 |
52.04 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
41628649 |
52.04 |
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 % |
|
|
B1)
Institutions |
0 |
0.00 |
|
|
Mutual
Funds/ |
1700 |
0.00 |
|
|
Foreign
Portfolio Investors |
24501 |
0.03 |
|
|
Financial
Institutions/ Banks |
2500 |
0.00 |
|
|
Sub
Total B1 |
28701 |
0.04 |
|
|
B2)
Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual
share capital upto INR 0.200 million |
31459471 |
39.32 |
|
|
Individual
share capital in excess of INR 0.200 million |
1611863 |
2.01 |
|
|
Any
Other (specify) |
5271316 |
6.59 |
|
|
Bodies Corporate |
3491374 |
4.36 |
|
|
NRI |
1300675 |
1.63 |
|
|
Trusts |
2000 |
0.00 |
|
|
IEPF |
477267 |
0.60 |
|
|
Sub
Total B3 |
38342650 |
47.93 |
|
|
B=B1+B2+B3 |
38371351 |
47.96 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Extruded Products and Transmission and
Distribution Line Hardware. (Registered Activity and Confirmed by management) |
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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 : |
|||||
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Selling : |
Advance Payment, Cheque and Others (RTGS) |
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Purchasing : |
Advance Payment, Cheque and Others (RTGS) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
333 (Approximately) |
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Bankers : |
· State Bank of India · Axis Bank Limited · State Bank of Hyderabad ·
Yes Bank Limited ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel, (West), Mumbai-400013, Maharashtra, India ·
Punjab & Sind Bank, 59 B Chowarangee Road,
Kolkata-700020, West Bengal, India |
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Facilities : |
|
|
Statutory Auditors : |
|
|
Name : |
A L P S and Company Chartered Accountants |
|
Address : |
310, Todi Chambers, 2, Lalbazar Street, Kolkata – 700001,
West Bengal, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
N. Radhakrishnan and Company Cost Accountants |
|
Address : |
11A, Dover Lane Kolkata – 700029, West Bengal, India |
|
|
|
|
Internal Auditors : |
|
|
Name : |
A. Singhi and Company |
|
Address : |
27/8A, Waterloo Street, 2nd Floor, Kolkata – 700069, West
Bengal, India |
|
|
|
|
Secretarial
Auditors : |
|
|
Name : |
K. C. Khowala |
|
Address : |
27, Weston Street, Kolkata – 700012, West Bengal, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
· Century Aluminium Mfg. Company Limited · Paramsukh Properties Private Limited · Kutir Udyog Kendra (India) Limited ·
CAMCO Multi Metal Limited |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
INR 1/- each |
INR 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
INR 1/- each |
INR 80.000 Million |
|
|
|
|
|
Terms / Rights attached
to Equity Shares:
The Company has only equity shares having a par value of INR 1/- per share. Each holder of Equity Shares is entitled to one vote per share and the dividend, if proposed by the Board of Directors and approved by the Shareholders in the ensuring Annual General Meeting. In the event of liquidation of the Company, the holders of Equity Shares shall be entitled to receive proportionately, any of the remaining assets of the Company after distribution of all preferential amounts.
Reconciliation of the shares outstanding at the beginning and at the end of the reporting period:
The Company has neither issued nor bought back any shares during the financial year under review, hence there is no change in number of shares outstanding at the beginning and end of the year
The Company is not a Subsidiary Company.
The Company has neither issued any Bonus Shares nor allotted any shares pursuant to a contract without payment received in cash nor bought back any shares during the financial year and in the immediately preceding five financial years.
Details of
Shareholders holding more than 5% Shares in the Company:
|
Name of
Shareholders |
As at 31.03.2017 |
|
|
|
% of Holding |
Number |
|
Century Aluminium Manufacturing Company Limited |
16.23 |
12984701 |
|
Vintage Securities Limited |
8.36 |
6688831 |
|
Vintage Capital Markets Limited |
7.41 |
5930125 |
|
Sita Devi Jhunjhunwala |
7.19 |
5752934 |
|
Jeco Exports and Finance Limited |
6.04 |
4830225 |
There is no Shares reserved for issue under options
There is no Convertible Securities outstanding at the end of the reporting period.
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 |
80.000 |
80.000 |
80.000 |
|
(b) Reserves & Surplus |
314.900 |
299.800 |
290.000 |
|
(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) |
394.900 |
379.800 |
370.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
37.700 |
34.800 |
19.600 |
|
(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 |
11.800 |
17.900 |
13.000 |
|
Total
Non-current Liabilities (3) |
49.500 |
52.700 |
32.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
320.100 |
299.800 |
271.300 |
|
(b) Trade payables |
163.500 |
103.700 |
130.600 |
|
(c) Other current liabilities |
78.000 |
67.900 |
111.100 |
|
(d) Short-term provisions |
3.100 |
3.900 |
6.000 |
|
Total
Current Liabilities (4) |
564.700 |
475.300 |
519.000 |
|
|
|
|
|
|
TOTAL |
1009.100 |
907.800 |
921.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
299.300 |
331.500 |
364.400 |
|
(ii) Intangible Assets |
0.700 |
0.800 |
1.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
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) |
2.300 |
3.500 |
0.000 |
|
(d) Long-term Loan and Advances |
65.100 |
92.000 |
74.300 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
367.400 |
427.800 |
439.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
288.900 |
192.300 |
193.700 |
|
(c) Trade receivables |
222.100 |
203.800 |
195.900 |
|
(d) Cash and cash equivalents |
27.700 |
32.700 |
39.500 |
|
(e) Short-term loans and
advances |
103.000 |
51.200 |
52.800 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
641.700 |
480.000 |
481.900 |
|
|
|
|
|
|
TOTAL |
1009.100 |
907.800 |
921.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1818.900 |
1679.700 |
1738.400 |
|
|
Other Income |
15.900 |
24.700 |
37.200 |
|
|
TOTAL
|
1834.800 |
1704.400 |
1775.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1440.400 |
1260.500 |
1360.900 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(87.600) |
15.400 |
(1.900) |
|
|
Employees benefits expense |
114.600 |
112.200 |
98.800 |
|
|
Other expenses |
242.900 |
205.500 |
199.400 |
|
|
Exceptional Items |
0.600 |
0.000 |
(0.300) |
|
|
Extraordinary Items |
3.900 |
2.600 |
0.000 |
|
|
TOTAL |
1714.800 |
1596.200 |
1656.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
120.000 |
108.200 |
118.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
73.000 |
69.500 |
74.600 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
47.000 |
38.700 |
44.100 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
33.600 |
33.100 |
33.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
13.400 |
5.600 |
10.400 |
|
|
|
|
|
|
|
Less |
TAX |
1.200 |
(3.500) |
(4.000) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
12.200 |
9.100 |
14.400 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.800 |
5.600 |
0.000 |
|
|
TOTAL EARNINGS |
2.800 |
5.600 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
4.000 |
18.000 |
114.900 |
|
|
Components and Stores parts |
5.900 |
7.600 |
4.100 |
|
|
Capital Goods |
0.000 |
0.000 |
17.900 |
|
|
TOTAL
IMPORTS |
9.900 |
25.600 |
136.900 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.15 |
0.11 |
0.18 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
6.300 |
14.900 |
49.500 |
|
Cash generated from operations |
(0.500) |
2.200 |
102.900 |
|
Net cash from operating activities |
29.800 |
47.600 |
103.300 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
631.300 |
524.000 |
602.640 |
|
Total Expenditure |
609.300 |
497.200 |
580.40 |
|
PBIDT (Excl OI) |
22.000 |
26.800 |
22.240 |
|
Other Income |
7.000 |
7.000 |
10.520 |
|
Operating Profit |
29.000 |
33.800 |
32.760 |
|
Interest |
16.900 |
15.400 |
15.030 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
12.100 |
18.400 |
17.730 |
|
Depreciation |
8.300 |
8.500 |
8.070 |
|
Profit Before Tax |
3.800 |
9.900 |
9.660 |
|
Tax |
NA |
1.700 |
(0.040) |
|
Provisions and
contingencies |
NA |
NA |
NA0 |
|
Profit After Tax |
3.800 |
8.200 |
9.700 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
3.800 |
8.200 |
9.700 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
0.60 |
0.58 |
0.64 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.92 |
0.92 |
0.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
1.43 |
1.25 |
1.40 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.76 |
0.87 |
0.99 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.64 |
1.56 |
1.59 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.60 |
0.58 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.92 |
0.92 |
0.92 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
1.43 |
1.25 |
1.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.76 |
0.87 |
0.99 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.64 |
1.56 |
1.59 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.67 |
0.54 |
0.83 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.21 |
1.00 |
1.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
3.09 |
2.40 |
3.89 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.14 |
1.01 |
0.93 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.62 |
0.61 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.39 |
0.42 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.55 |
4.37 |
4.26 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.14 |
1.01 |
0.93 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 1.00/- |
|
Market Value |
INR 4.77.00/- |
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 |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
290.000 |
299.800 |
314.900 |
|
Net
worth |
370.000 |
379.800 |
394.900 |
|
|
|
|
|
|
long-term borrowings |
19.600 |
34.800 |
37.700 |
|
Short term borrowings |
271.300 |
299.800 |
320.100 |
|
Current maturities of long-term
debts |
49.500 |
14.900 |
6.300 |
|
Total
borrowings |
340.400 |
349.500 |
364.100 |
|
Debt/Equity
ratio |
0.920 |
0.920 |
0.922 |
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 |
1738.400 |
1679.700 |
1818.900 |
|
|
|
(3.377) |
8.287 |
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 |
1738.400 |
1679.700 |
1818.900 |
|
Profit |
14.400 |
9.100 |
12.200 |
|
|
0.83% |
0.54% |
0.67% |
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 |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL
PERFORMANCE
The Company reported a sales turnover of INR 2035.200 Million as against INR 1880.700 Million in the previous financial year recording increase of about 8.21%. The increase in turnover of 8.21% from previous year to this year due to increment in production in the last quarter of the financial year 2016-17 and the market scenario of aluminum industry has changed and there is constant demand of aluminum in the market as compared to last year. The Power Transmission & Distribution Hardware (Power T & D Hardware) division registered a sale of INR 47.100 Million as against INR 30.400 Million in the previous financial year. The balance of the turnover was contributed by Company's principal business i.e. by Aluminium Extrusions Division.
The Profit after Tax (PAT) for the financial year is INR 12.200 Million as against profit of INR 9.100 Million reflecting increase of about 34% in the financial performance of the Company.
OPERATION AND
PERFORMANCE OF THE COMPANY
The year was one of the most difficult one for the company. Company performance suffered largely due to poor performance of the metals industries. The Margins continue to be under pressure and the cash flow is also constrained as regular payments are not coming from customers on time. Various steps are to be taken for promotion of aluminium sector and facilitating its growth. All these factors indicate that there is a highly promising future for the aluminium industry in the country. Further in this connection in the last quarter of the year under review has shown some improvement and market are started up and the management is expecting some good order from the new customers. The management is also giving special attention to cost reduction and collections to improve the financial performance.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Bodies Corporate |
23.100 |
17.800 |
|
Short-term
borrowings |
|
|
|
Loan From Bodies Corporate |
18.300 |
31.700 |
|
Total |
41.400 |
49.500 |
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G56778418 |
100127830 |
HDFC BANK LIMITED |
13/06/2017 |
- |
20000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W MUMBAI MAHARASHTRA 400013 INDIA |
|
2 |
G52402963 |
100120536 |
PUNJAB & SIND BANK |
10/03/2017 |
- |
63500000.0 |
59 B CHOWARANGEE ROAD KOLKATA WB 700020 INDIA |
|
3 |
C76848811 |
10615391 |
STATE BANK OF HYDERABAD |
28/12/2015 |
- |
55000000.0 |
PARK STREET BARANCHPODDAR POINT 1ST FLOOR, 113 PARK STREET, KOLKATA WB 700016 INDIA |
|
4 |
B83715235 |
10446408 |
STATE BANK OF INDIA |
20/07/2013 |
- |
15000000.0 |
INDUSTRIAL FINANCE BRANCH, KOLKATA11, DR. U. N. BRAHMACHARI STREET KOLKATA WB 700017 INDIA |
|
5 |
B83385971 |
10341756 |
AXIS BANK LIMITED |
24/02/2012 |
19/08/2013 |
35000000.0 |
CORPORATE BANKING BRANCH (CBB),1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR, KOLKATA WB 700071 INDIA |
|
6 |
G04168647 |
10211373 |
STATE BANK OF INDIA |
18/03/2010 |
21/05/2016 |
391000000.0 |
COMMERCIAL BRANCH, JEEVANDEEP1, MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOOR KOLKATA WB 700071 INDIA |
|
7 |
C53935177 |
10136809 |
STATE BANK OF INDIA |
14/11/2008 |
04/05/2015 |
287300000.0 |
COMMERCIAL BRANCH, JEEVANDEEP1, MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOOR KOLKATA WB 700071 INDIA |
|
8 |
G04169611 |
10105710 |
STATE BANK OF INDIA |
09/05/2008 |
21/05/2016 |
471900000.0 |
COMMERCIAL BRANCH, JEEVANDEEP1, MIDDLETON STREET, JEEVANDEEP BUILDING, 2ND FLOOR KOLKATA WB 700071 INDIA |
|
9 |
Z00104454 |
80022428 |
INDUSTRIAL RECONSTRUCTION DEPARTMENT |
18/03/2005 |
- |
31400000.0 |
GOVERNMENT OF WEST BENGALWRITERS BUILDIN GKOLKATA WB 700001 INDIA |
|
10 |
Z00101287 |
80021389 |
INDUSTRIAL RECONSTRUCTION DEPARTMENT |
28/09/2004 |
- |
50000000.0 |
GOVERNMENT OF WEST BENGALWRITERS BUILDIN GKOLKATA WB 700001 INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Guarantees / Letter of Credits * |
132.500 |
132.400 |
|
Other money for which the company is contingently liable: |
|
|
|
Bills Discounted with Banks |
24.200 |
11.300 |
|
Sales Tax demand** |
0.000 |
18.000 |
|
Employees State Insurance demand*** |
0.300 |
0.300 |
|
West Bengal Entry Tax **** |
40.400 |
33.000 |
|
Services Tax Demand ***** |
0.100 |
0.100 |
|
Excise Demand ****** |
0.400 |
0.400 |
|
Export obligation under EPCG******* |
Amount not
determinable |
Amount not
determinable |
|
* Bank Guarantees outstanding INR 22.300 Million (previous year INR 22.300 Million) and Letters of Credit issued by Banks on behalf of the Company INR 109.200 Million (Previous year INR 110.100 Million) against which INR 16.300 Million (previous year INR16.000 Million) have been deposited with the Banks as Margin Money. ** The Employees State Insurance Corporation (ESI) has raised a demand of INR 0.300 Million plus interest of INR Nil Lac (INR 108.81 P.Y.) per day w.e.f. 1.1.2004 for the period 1999-2000 to 2000-2001. The company has preferred an appeal against the demand at the Employees Insurance Court, West Bengal. The Honorable Court has stayed the demand till final disposal of Company’s appeal. **** The Divisional Bench of Hon’ble High Court, Calcutta has stayed the operation of single bench order dated 24-06-2013, which ordered levy of West Bengal Tax on Entry of Goods into Local Areas Act, 2012 as ultra vires to the Constitution of the India. The Hon’ble High Court, further directed that the assessment proceedings should go on. In view of above and as per legal opinion obtained by the Company, the Company has written back INR 2.600 Million unpaid amount of said tax for the financial year 2012-13 and no provision of the tax of INR 68.600 Million (Previous year INR 51.900 Million) inclusive of unpaid amount of Rs 16.700 Million for current year and other consequestional demand arise from assessment is considered necessary. ***** The Company has received Service tax demand INR0.105 Million for the years 2015-2016, against which the Company has preferred appeals before the Commissioner of central excise (Appeals) under section 35 of the Central Excise Act,1944. ****** The Company has received Excise duty demand of INR 0.113 Million and 0.243 Million respectively for the years 2015-2016, against which the Company has preferred appeals before the Commissioner of central excise (Appeals) under section 35 of the Central Excise Act,1944 *******The Company had imported machinery on subsidized rate of duty under Export Promotion Capital Goods Scheme (EPCG). Accordingly the Company is under an obligation to export to the extent of INR 348.600 Million, i.e. eight times of the duty saved, in eight years from the date of issue of authorization. The Company has made export for the value of INR 325.700 Million (Previous year INR 281.700 Million) till 31st March, 2016. If the Company is unable to fulfill the full export obligation within the stipulated period, it would be liable to pay proportionate duty saved along with interest at the rate of 15% p.a. |
||
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER
AND NINE MONTHS ENDED 31ST DECEMBER 2017
(INR IN MILLION)
|
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
Income from operations |
|
|
|
|
a)
Net Sales/Income from Operations |
602.645 |
524.000 |
1757.967 |
|
b)
Other Operating Income |
10.519 |
7.000 |
24.463 |
|
Total Income from Operations |
613.164 |
531.000 |
1782.430 |
|
|
|
|
|
|
Expenses |
|
|
|
|
a)
Cost of materials consumed |
438.736 |
363.800 |
1247.974 |
|
b)
Purchase of traded goods |
0.000 |
0.000 |
0.000 |
|
c)
Changes in inventories of finished goods, work-in-progress and traded goods |
29.343 |
30.600 |
57.888 |
|
d)
Excise Duty |
0.000 |
0.000 |
68.139 |
|
e)
Employee benefits expense |
31.135 |
34.500 |
94.330 |
|
f)
Finance costs |
15.026 |
15.400 |
47.325 |
|
g)
Depreciation and amortisation expense |
8.072 |
8.500 |
24.884 |
|
h)
Other expenses |
81.196 |
68.300 |
218.428 |
|
Total Expenses |
603.508 |
521.100 |
1758.968 |
|
|
|
|
|
|
Profit from before exceptional Items |
9.656 |
9.900 |
23.462 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
Profit from ordinary activities before tax |
9.656 |
9.900 |
23.462 |
|
Tax
expense |
0.040 |
(1.700) |
(1.696) |
|
Net Profit/(Loss) ordinary activities after
tax |
9.696 |
8.200 |
21.766 |
|
Other Comprehensive Income/ (Loss) |
1.130 |
0.100 |
0.223 |
|
Total Comprehensive Income for the period |
9.808 |
8.300 |
21.989 |
|
Paid - up Equity Share Capital (Face value of INR 1/- per share) |
80.000 |
80.000 |
80.000 |
|
Reserves excluding
revaluation reserves as per balance sheet of previous accounting year |
3111.000 |
311.000 |
311.000 |
|
Earnings Per Share (EPS) |
|
|
|
|
Basic |
0.12 |
0.10 |
0.27 |
|
Diluted |
0.12 |
0.10 |
0.27 |
Notes :
1. The above results have been reviewed by the Audit Committee at their meeting held on 12th February, 2018 for the quarter ended 31st December 2018 and thereafter were approved by the Board of Directors at their meeting held on 12th February, 2018.
2. The Company has two business segments i.e. manufacturing of Aluminum
Extruded Products and manufacturing Transmission and Distribution Line
Hardware.
However, the company does not fall under any of the criteria laid down under
AS-17 and hence segment Reporting not applicable.
3. The Statutory Auditors of the Company have carried out a "Limited
Review" of the results for the quarter / nine month ended December 31,
2017. The comparative financial results under Ind AS for the nine month ended
31st December, 2016 has not been reviewed by the statutory auditors, however
the management has exercised necessary due diligence to ensure that the
financial results provides a true and fair view of the company’s affairs.
4. The format for unaudited quarterly results as prescribed vide SEBI circular
dated 30th November, 2015 has been modified to comply with the requirements of
SEB. circular dated 5th July, 2016 and Schedule III (Division II) to the
Companies Act, 2013 applicable to companies that are required to comply with
Ind AS. The Company has also availed exemption given in para 2.7 read with para
2.6 of SEBI Circular dated July 05, 2016 and based on such exemption has not
disclosed the figure related to quarter and year ended March 31, 2017.
5. The financial results of the Company have been prepared in accordance with
Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting
Standards) Rules, 2015 as amended by the Companies (Indian Accounting
Standards) (Amendment) Rules, 2016. The Company has adopted Ind AS from April
01, 2017, with a transition date of 1st April, 2016 and accordingly results for
the nine month ended 31st December, 2016 have been restated, to comply with the
requirement of Ind AS and to make them comparable with those of the current
nine month ended 31st December, 2017.
6. The figures of previous period has been regrouped/reclassified, wherever
necessary to conform to the classification for the quarter ended December 31,
2017.
FIXED ASSETS
- Leasehold Land
- Building
- Plant and Machinery
- Electric Installation
- Vehicles
- Furniture and Fittings
- Office Equipment
- Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 64.80 |
|
UK Pound |
1 |
INR 92.26 |
|
Euro |
1 |
INR 80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·