MIRA INFORM REPORT

 

 

Report No. :

500713

Report Date :

31.03.2018

 

 

 

 

IDENTIFICATION DETAILS

 

Name :

BAJAJ AUTO LIMITED (w.e.f 05.03.2008)

 

 

Formerly Known As :

BAJAJ HOLDINGS AND INVESTMENT LIMITED

 

 

Registered Office :

Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035, Maharashtra

Tel. No.:

91-20-27472851

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

30.04.2007

 

 

Com. Reg. No.:

11-130076

 

 

Capital Investment / Paid-up Capital :

INR 2893.700 Million

 

 

CIN No.:

[Company Identification No.]

L65993PN2007PLC130076

 

 

IEC No.:

[Import-Export Code No.]

3108008617

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCB2923M

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AADCB2923M1ZL

 

 

TIN/CST No.:

27340676530

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles etc. and parts (Registered activity)

 

 

No. of Employees :

7965 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A++

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Maximum Credit Limit :

USD 487000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists

 

 

Comments :

Bajaj Auto was incorporated in 1945 as Bachraj Trading Corporation Limited to import scooters and motorised three-wheelers from Piaggio and Company. The entity's name was changed to Bajaj Auto Private Limited in June 1960, and then to its current one in August 1960, after it was reconstituted as a public limited company. Currently, Bajaj Auto has a dominant market share in the three-wheeler segment, and a strong position in the motorcycle segment.

As per a scheme of demerger, Bajaj Auto formed two companies in fiscal 2008, Bajaj Holdings and Investment Limited (BHIL) and Bajaj Finserv Limited (Bajaj Finserv). The two- and three-wheeler manufacturing business carried out by Bajaj Auto was transferred to BHIL, while the wind energy, insurance, and consumer finance businesses were transferred to Bajaj Finserv. After completion of the demerger formalities (Bombay High Court approved the demerger on December 18, 2007), BHIL was renamed as Bajaj Auto (new), while Bajaj Auto (old) was renamed as BHIL.


Bajaj Auto remains the second-largest player in the motorcycle industry in India, with over 17 per cent share of the domestic market, while continuing to account for over two-thirds of the industry's exports.

 
Bajaj Auto's healthy position in the motorcycle segment is driven by its strong product development capabilities, brand name, and diversified product portfolio. The company's leadership position in the country's high-margin three-wheeler passenger-carrier segment also strengthens its business profile.

 
For the financial year 2017, the company reported 3.32% dip in its revenue as compared to the previous year but has managed to maintain a decent profit margin of 1.58%.



The robust financial profile of the company is marked by a strong capital structure and ample liquidity. Bajaj Auto's substantial portfolio of liquid investments and cash surplus provides steady treasury income, besides enhancing its financial flexibility.


Payment seems to be regular.


In view of aforesaid, the Company can be regarded as promising business partner for medium to long term business dealings at regular 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

CRISIL

Rating

Long Term Rating=AAA

Rating Explanation

Highest degree of safety and carry lowest credit risk.

Date

26.12.2017

 

Rating Agency Name

CRISIL

Rating

Short Term Rating=A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

26.12.2017

 

 

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 31.03.2018

 

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: (Tel. No.: 91-20-27472851)

 

LOCATIONS

 

Registered/ Head Office/ Factory 1 :

Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035, Maharashtra, India

Tel. No.:

91-20-27472851/ 27406603 / 27406063 / 27406281/ 27406137

Fax No.:

91-20-27407380 / 27407392

E-Mail :

vpbhand@bajajauto.co.in

investors@bajajauto.co.in

jsridhar@bajajauto.co.in

Website :

http://www.bajajauto.com

 

 

Factory 2 :

Bajaj Nagar, Waluj, Aurangabad – 431 136, Maharashtra, India

 

Factory 3 :

MIDC, Plot No. A1, Mahalunge Village, Chakan Industrial Area, Chakan, Pune – 410 501, Maharashtra, India

 

 

Factory 4 :

Plot No. 2, Sector -10, IIE Pant Nagar, Udham Singh Nagar – 263 531, Uttarakhand, India

 

 

Regional office:

Located at:

  • Gujarat
  • Karnataka
  • Goa
  • Madhya Pradesh
  • Odisha
  • Punjab
  • Himachal Pradesh
  • Jammu and Kashmir
  • Tamilnadu
  • Telangana
  • West Bengal
  • Rajasthan
  • Delhi
  • Haryana
  • Uttar Pradesh

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Rajivnayan Rahulkumar Bajaj

Designation:

Managing Director

Address:

34/35, Yog Lane No 2, Koregaon Park, Pune - 411001, Maharashtra, India

Date of Appointment:

02.05.2007

DIN No.:

00018262

 

 

Name :

Dr. Rahulkumar Kamalnayan Bajaj

Designation:

Whole Time Director

Address:

Bajaj Vihar, Mumbai Pune Road, Akurdi, Pune - 411035, Maharashtra, India

Date of Appointment:

02.05.2007

DIN No.:

00014529

 

 

Name :

Mr. Pradeep Shrivastava

Designation:

Whole Time Director

Address:

27, Amar Society, 44/2 Erandwane, Pune - 411004, Maharashtra, India

Date of Appointment:

01.04.2016

DIN No.:

07464437

 

 

Name :

Mr. Omkar Goswami

Designation:

Additional Director

Address:

E-121, Masjid Moth, First Floor, Greater Kailash-III, New Delhi - 110048, India

Date of Appointment:

18.05.2017

DIN No.:

00004258

 

 

Name :

Mr. Madhurkumar Ramkrishnaji Bajaj

Designation:

Director

Address:

Bajaj Vihar, Mumbai Pune Road, Akurdi, Pune - 411035, Maharashtra, India

Date of Appointment:

10.05.2007

DIN No.:

00014593

 

 

Name :

Mr. Sanjivnayan Rahulkumar Bajaj

Designation:

Director

Address:

Bajaj Vihar, Mumbai Pune Road, Akurdi, Pune - 411035, Maharashtra, India

Date of Appointment:

02.05.2007

DIN No.:

00014615

 

 

Name :

Mr. Murari Pejavar

Designation:

Director

Address:

2, Gilchrist Avenue, Harrington Road, Chetpet, Chennai - 600031, Tamilnadu, India

Date of Appointment:

30.01.2008

DIN No.:

00020437

 

 

Name :

Mr. Balaji Rao Jagannathrao Doveton

Designation:

Director

Address:

D-103, Adarsh Residency, 47th Cross, 2nd Main Jayanagar, 8th Block, Bangalore - 560082, Karnataka, India

Date of Appointment:

30.01.2008

DIN No.:

00025254

 

 

Name :

Mr. Nirajkumar Ramkrishnaji Bajaj

Designation:

Director

Address:

Mount Unique, 13th Floor, 62, Peddar Road, Mumbai - 400026, Maharashtra, India

Date of Appointment:

30.01.2008

DIN No.:

00028261

 

 

Name :

Mr. Dhirajlal Shantilal Mehta

Designation:

Director

Address:

301/ 302, Gora Gandhi Apartments, 3 Laburnam Road, Gamdevi, Mumbai - 400007, Maharashtra, India

Date of Appointment:

30.01.2008

DIN No.:

00038366

 

 

Name :

Mr. Manish Santoshkumar Kejriwal

Designation:

Director

Address:

Flat No 3703, 37th & 38th Floor, Vivarea Building, B Wing, Sane Guruji Marg, Jacob Circle, Mumbai - 400011, Maharashtra, India

Date of Appointment:

30.01.2008

DIN No.:

00040055

 

 

Name :

Mr. Nanoo Gobindram Pamnani

Designation:

Director

Address:

Flat No. 21, Elcid 13A, Ridge Road, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Appointment:

30.01.2008

DIN No.:

00053673

 

 

Name :

Mr. Shekharkumar Ramkrishnaji Bajaj

Designation:

Director

Address:

211, Maker Tower 'A', Cuffe Parade, Mumbai - 400005, Maharashtra, India

Date of Appointment:

30.01.2008

DIN No.:

00089358

 

 

Name :

Dr. Naushad Darius Forbes

Designation:

Additional Director

Address:

74, Koregaon Park, Pune - 411001, Maharashtra, India

Date of Appointment:

18.05.2017

DIN No.:

00630825

 

 

Name :

Dr. Gita Piramal

Designation:

Director

Address:

61, 6th Floor, Piramal House, S Pochkhanawala Road, Worli Seaface, Mumbai -400025, Maharashtra, India

Date of Appointment:

01.04.2015

DIN No.:

01080602

 

 

Name :

Anami Narayan Prema Roy

Designation:

Additional Director

Address:

62, Sagar Tarang Worli Seaface, Mumbai- 400025 , Maharashtra, India

Date of Appointment:

14.09.2017

DIN No.:

01361110

 

 

KEY EXECUTIVES

 

Name :

Mr. Kevin Pius Dsa

Designation:

Chief Finance Officer

Address:

Acropolis Flat No 1 Vidya Vilas Colony I.T.I. Road Pune 411007, Maharashtra, India

Date of Appointment:

15.05.2014

PAN No.:

AARPD5190M

 

 

Name :

Mr. Sridhar Jayaraman

Designation:

Company Secretary

Address:

A-9, Dwarka Varsha Park, Baner Road, Baner, Pune - 411045, Maharashtra, India

Date of Appointment:

20.02.2008

PAN No.:

AANPJ5463B

 

 

Audit Committee:
  • Nanoo Pamnani, Chairman
  • D J Balaji Rao
  • Naresh Chandra

 

 

Stakeholders

Relationship Committee:
  • D J Balaji Rao, Chairman
  • J N Godrej
  • Naresh Chandra
  • Dr. Gita Piramal

 

 

Nomination and  Remuneration Committee:
  • D J Balaji Rao, Chairman
  • Dr. Gita Piramal
  • Naresh Chandra
  • Rahul Bajaj

 

 

Corporate Social Responsibility

Committee:
  • Rahul Bajaj, Chairman
  • Rajiv Bajaj
  • Nanoo Pamnani
  • Pradeep Sdrivastava

 

 

Risk Management Committee:
  • Nanoo Pamnani, Chairman
  • D J Balaji Rao
  • Kevin D’sa

 

 

Duplicate Share Certificate Issuance Committee :
  • Rahul Bajaj, Chairman
  • Rajiv Bajaj
  • Sanjiv Bajaj

 

 

MANAGEMENT

 

 

Name :

Mr. Abraham Joseph

Designation :

Chief Technology Officer

 

 

Name :

Mr. R C Maheshwari

Designation :

President (Commercial Vehicle Business)

 

 

Name :

Mr. Rakesh Sharma

Designation :

President (International Business)

 

 

Name :

Eric Vas

Designation :

President (New Projects)

 

 

Name :

Mr. Kevin P D’sa

Designation :

President (Finance)-CFO

 

 

Name :

Mr. S Ravikumar

Designation :

Senior Vice President (Business Development and Assurance)

 

 

Name :

Mr. Amrut Rath

Designation :

Vice President (Human Resources)

 

 

Name :

Mr. Amit Nandi

Designation :

President (Probiking)

 

 

Name :

Mr. C P Tripathi

Designation :

Vice President (CSR)

 

 

Name :

Ravi Kyran Ramasamy

Designation :

President (Human Resources)

 

 

Name :

Subash Rao

Designation :

President (Retail Finance)

 

 

Name :

C P Tripathi

Designation :

Advisor (CSR)

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.12.2017  

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares

(A) Promoter and Promoter Group

142657982

49.30

(B) Public

146684438

50.70

Grand Total

289342420

100.00

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

A1) Indian

 

Individuals/Hindu undivided Family

11737760

4.06

ANANT BAJAJ

114

0.00

DEEPA BAJAJ

21150

0.01

GEETIKA BAJAJ

600

0.00

KIRAN BAJAJ

2050

0.00

KRITI BAJAJ

98820

0.03

KUMUD BAJAJ

1518868

0.52

MADHUR BAJAJ (A/C PERSONAL)

2449852

0.85

MINAL BAJAJ

125800

0.04

NEELIMA BAJAJ SWAMY

661438

0.23

NIMISHA JAIPURIA

389770

0.13

NIRAJ BAJAJ (A/C PERSONAL)

42622

0.01

NIRAVNAYAN BAJAJ

368056

0.13

POOJA BAJAJ

149500

0.05

RAHULKUMAR BAJAJ

2780570

0.96

RAJIVNAYAN BAJAJ (A/C PERSONAL)

759000

0.26

RISHABNAYAN BAJAJ

17000

0.01

SANJALI BAJAJ

25450

0.01

SANJIVNAYAN BAJAJ (A/C PERSONAL)

626198

0.22

SHEFALI BAJAJ

20000

0.01

SHEKHAR BAJAJ (A/C PERSONAL)

6020

0.00

SIDDHANTNAYAN BAJAJ

15000

0.01

SUMAN JAIN

1047008

0.36

SUNAINA KEJRIWAL (A/C PERSONAL)

612874

0.21

Any Other (specify)

130920222

45.24

BACHHRAJ AND COMPANY PRIVATE LIMITED

3711756

1.28

BACHHRAJ FACTORIES PRIVATE LIMITED

1961174

0.68

BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD.

125000

0.04

BAJAJ FINANCE LIMITED

150

0.00

BAJAJ HOLDINGS AND INVESTMENT LIMITED

91280000

31.54

BAJAJ SEVASHRAM PRIVATE LTD

4462720

1.54

BARODA INDUSTRIES PRIVATE LIMITED

1670802

0.58

HERCULES HOISTS LIMITED

182590

0.06

JAMNALAL SONS PVT LTD

25844400

8.93

KAMALNAYAN INVESTMENT & TRADING PRIVATE LIMITED

132200

0.05

MADHUR SECURITIES PVT LTD

79400

0.03

NIRAJ HOLDINGS PRIVATE LIMITED

19600

0.01

RAHUL SECURITIES PRIVATE LIMITED

270600

0.09

RUPA EQUITIES PRIVATE LIMITED

286800

0.10

SANRAJ NAYAN INVESTMENTS PRIVATE LIMITED

60000

0.02

SHEKHAR HOLDINGS PVT LTD

63000

0.02

THE HINDUSTAN HOUSING COMPANY LTD

20800

0.01

MADHUR BAJAJ (A/C TRUSTEE OF NIMISHA TRUST)

3430

0.00

NIRAJ BAJAJ (A/C TRUSTEE OF NIRAVNAYAN TRUST)

524400

0.18

NIRAJ BAJAJ (A/C TRUSTEE OF DEEPA TRUST)

2000

0.00

NIRAJ BAJAJ (A/C TRUSTEE OF KRITI TRUST)

94000

0.03

RAJIVNAYAN BAJAJ (A/C TRUSTEE OF RISHAB TRUST)

2000

0.00

SANJIVNAYAN BAJAJ (A/C TRUSTEE OF SANJALI TRUST)

2000

0.00

SANJIVNAYAN BAJAJ (A/C TRUSTEE OF SIDDHANT TRUST)

4000

0.00

SHEKHAR BAJAJ (A/C TRUSTEE OF GEETIKA TRUST)

1200

0.00

SUNAINA KEJRIWAL (A/C TRUSTEE OF NIRVAAN TRUST)

200

0.00

KIRAN BAJAJ(A/C TRUSTEE OF GEETIKA TRUST No.2)

116000

0.04

Sub Total A1

142657982

49.30

A2) Foreign

0.00

A=A1+A2

142657982

49.30

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a %

B1) Institutions

 

Mutual Funds/

5662715

1.96

Foreign Portfolio Investors

49628903

17.15

GOVERNMENT PENSION FUND GLOBAL

4280545

1.48

Financial Institutions/ Banks

223840

0.08

Insurance Companies

19594352

6.77

LIFE INSURANCE CORPORATION OF INDIA

18696806

6.46

Sub Total B1

75109810

25.96

B2) Central Government/ State Government(s)/ President of India

0.00

B3) Non-Institutions

0.00

Individual share capital upto INR 0.200 million

16875890

5.83

Individual share capital in excess of INR 0.200 million

28617493

9.89

NIRAJ BAJAJ (As a trustee of Yamuna Trust)

3659916

1.26

NBFCs registered with RBI

6551

0.00

Any Other (specify)

26099294

9.02

Trusts

3854891

1.33

Overseas corporate bodies

225

0.00

NRI

249542

0.09

NRI – Non- Repat

808841

0.28

Clearing Members

128662

0.04

Bodies Corporate

20977761

7.25

JAYA HIND INVESTMENTS PRIVATE LIMITED

9498070

3.28

MAHARASHTRA SCOOTERS LIMITED

6774072

2.34

FOREIGN BODIES-DR

24600

0.01

FOREIGN NATIONALS

130

0.00

IEPF

54642

0.02

Sub Total B3

71599228

24.74

B=B1+B2+B3

146709038

50.70

 

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles etc. (Registered activity)

 

 

Products / Services :

Item Code No.

Products/Services Description

3091

Motorcycles, three-wheelers

(Including parts)

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

7965 (Approximately)

 

 

Bankers :
  • Central Bank of India
  • State Bank of India
  • Citibank N A
  • Standard Chartered Bank
  • Bank of America
  • ICICI Bank Limited
  • HDFC Bank Limited

 

 

 

Auditors :

 

Name 1:

Dalal and Shah LLP

Chartered Accountants

 

 

Secretarial Auditor:

 

Name 2:

Shyamprasad D Limaye

Practicing Company Secretary

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries:
  • PT. Bajaj Auto Indonesia (99.25% shares held by Bajaj Auto Limited)

 

  • Bajaj Auto International Holdings BV Amsterdam Netherlands (Fully owned subsidiary)

 

 

Associates and investing parties:
  • Bajaj Holdings and Investment Limited (Investing party - holds 31.54% shares of Bajaj Auto Limited)

 

  • KTM AG

 

 

Other entities:
  • Bajaj Finserv Limited
  • Bajaj Finance Limited
  • Bajaj Allianz General Insurance Co. Limited
  • Bajaj Allianz Life Insurance Co. Limited
  • Bajaj Electricals Limited
  • Hind Musafir Agency Limited
  • Hindustan Housing Co. Limited
  • KTM Motorrad AG (Subsidiary of associate)
  • KTM Sportsmotorcycle GmbH (Subsidiary of associate
  • KTM Southeast Europe S.A. (Subsidiary of associate)
  • KTM Sportmotorcycle India Private Limited (Subsidiary of associate)
  • Maharashtra Scooters Limited
  • Bajaj Auto Employees Group Gratuity Fund
  • Bajaj Auto Senior Staff Group Gratuity Fund
  • Bajaj Auto Employees Superannuation Fund
  • Bajaj Auto Limited Provident Fund

 

CAPITAL STRUCTURE

 

As on 31.03.2017         

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

300000000

Equity Shares

INR 10/- each

INR 3000.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

289367020

Equity Shares

INR 10/- each

INR 2893.700 Million

 

 

 

 

 

a. Of the above

Euro Equity Issue represented by Global Depository Receipts (GDR) evidencing Global Depository Shares issued in earlier years has been disbanded during the year 2016-17, hence there are no outstanding GDRs at the close of the year.

 

b. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of H 10 per share. Each holder of equity shares is entitled to one vote per share. The interim dividend declared by the Board of Directors and the dividend proposed by the Board of Directors and approved by the shareholders in the annual general meeting is paid in Indian rupees. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

 

c. Details of shareholders holding more than 5% shares in the Company

 

Particulars

31 March 2017

Equity shares of H 10 each fully paid

Nos.

% Holding

Bajaj Holdings and Investment Limited

91280000

31.54%

Jamnalal Sons Private Limited

25844400

8.93%

Life Insurance Corporation of India

15602107

5.39%

 

 

 

 

 

 

 

                                                                   


 

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

2893.700

2893.700

2893.700

(b) Reserves & Surplus

167447.600

129771.800

104027.800

(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)

170341.300

132665.500

106921.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Sales tax Deferral

1199.000

1178.600

1117.700

(c) Deferred tax liabilities (Net)

3136.200

2028.000

1415.800

(d) Other long term liabilities

72.700

297.800

575.900

(e) long-term provisions

781.300

475.700

824.400

(f) Government grant

492.600

409.500

0.000

Total Non-current Liabilities (3)

5681.800

4389.600

3933.800

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

22357.300

20270.400

17605.300

(c) Other current liabilities

8532.700

6388.800

8066.900

(d) Short-term provisions

1209.300

1129.500

19095.700

(e) Government grant

26.500

21.200

0.000

Total Current Liabilities (4)

32125.800

27809.900

44767.900

 

 

 

 

TOTAL

208148.900

164865.000

155623.200

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

18986.100

19363.800

19172.400

(ii) Intangible Assets

446.500

892.900

0.000

(iii) Capital work-in-progress

106.400

268.900

1017.200

(iv) Intangible assets under development

315.300

253.500

1532.200

(b) Non-current Investments

74586.700

77179.300

33527.600

(c) Deferred tax assets (net)

3999.400

3736.500

0.000

(d)  Long-term Loan and Advances

297.400

294.700

5110.700

(e) Other Non-current assets

15497.400

15622.900

0.400

Total Non-Current Assets

114235.200

117612.500

60360.500

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

60500.800

13199.400

58005.600

(b) Inventories

7283.800

7190.700

8141.500

(c) Trade receivables

9532.900

7179.300

7169.600

(d) Cash and cash equivalents

2936.800

8595.200

5861.500

(e) Short-term loans and advances

64.700

70.500

12616.100

(f) Other current assets

13594.700

11017.400

3468.400

Total Current Assets

93913.700

47252.500

95262.700

 

 

 

 

TOTAL

208148.900

164865.000

155623.200

 

 

PROFIT & LOSS ACCOUNT  (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

217666.800

225865.200

216120.100

 

Other Income

12219.700

10735.900

5824.200

 

TOTAL

229886.500

236601.100

221944.300

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of raw material and components consumed

132853.600

137170.100

137527.900

 

Purchases of Stock-in-Trade

13824.700

12764.000

11545.700

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(436.800)

634.500

(575.600)

 

Employees benefits expense

9970.700

9171.200

8973.000

 

Expenses, included in above items, capitalised

(222.700)

(170.200)

(600.500)

 

Exceptional Items

0.000

0.000

3402.900

 

Other expenses

17453.800

18476.200

18084.100

 

TOTAL

173443.300

178045.800

178357.500

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

56443.200

58555.300

43586.800

 

 

 

 

 

Less

FINANCIAL EXPENSES

14.000

10.500

64.900

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

56429.200

58544.800

43521.900

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

3072.900

3071.600

2674.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

53356.300

55473.200

40847.900

 

 

 

 

 

Less

TAX

15080.700

16176.500

12710.500

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

38275.600

39296.700

28137.400

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

93051.700

92069.600

 NA

 

 

 

 

 

 

Items of other comprehensive income recognised directly in retained earnings Actuarial gains/losses of defined benefit plans

(130.400)

(8.600)

 NA

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

3830.000

3660.000

NA

 

Interim dividend, declared and paid during the year

0.000

14468.400

NA

 

Tax on interim dividend

0.000

2945.400

NA

 

Final dividend, declared and paid during the year

1446.800

14468.400

NA

 

Tax on final dividend

294.500

2877.300

NA

 

Provision for Corporate Dividend Tax for previous year written back
under section 115(O) of Income-tax Act, 1961

0.000

(113.500

NA

 

Total

5571.300

38306.000

 NA

 

 

 

 

 

 

Balance Carried to the B/S

125625.600

93051.700

NA

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

281.300

142.700

 

Components

NA

4768.600

6168.100

 

Vehicles and spare parts

NA

206.600

148.600

 

Machinery spares

NA

116.300

83.900

 

Capital goods

NA

325.300

254.700

 

Tools, stores, etc.

NA

95.600

211.600

 

TOTAL IMPORTS

NA

5793.700

7009.600

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

132.30

135.80

97.20

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

33392.000

36568.100

21473.200

 

 

QUARTERLY RESULTS

 

Particulars

30.06.2017

30.09.2017

30.12.2017

Audited / Unaudited

Unaudited

Unaudited

Unaudited

 

1st Quarter

2nd  Quarter

3rd  Quarter

Net Sales

58541.900

65664.300

63693.400

Total Expenditure

49162.600

52680.400

51378.900

PBIDT (Excl OI)

9379.300

12983.900

12314.500

Other Income

3234.700

2964.400

2268.700

Operating Profit

12614.000

15948.300

14583.200

Interest

2.400

4.700

3.000

Exceptional Items

(320.000)

NA

NA

PBDT

12291.600

15943.600

14580.200

Depreciation

752.600

769.700

746.800

Profit Before Tax

11539.000

15173.900

13833.400

Tax

3642.000

4055.300

4309.000

Provisions and contingencies

NA

NA

NA

Profit After Tax

7897.000

11118.600

9524.400

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

7897.000

11118.600

9524.400

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

15.99

11.60

12.11

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

22.83

31.46

30.14

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

55.63

49.35

43.11

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

7.75

8.14

5.35

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

2.84

2.82

2.01

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.15

0.17

0.29

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.00

0.00

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.19

0.21

0.42

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.12

0.16

0.20

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4031.66

5576.70

671.60

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

17.58

17.40

13.02

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

18.39

23.84

18.08

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

22.47

29.62

26.32

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.92

1.70

2.13

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.70

1.44

1.95

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.82

0.80

0.69

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.00

0.00

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.92

1.70

2.13

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 10.00/-

Market Value

INR 2767.60/-

 

 

FINANCIAL ANALYSIS

[all figures are 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

2893.700

2893.700

2893.700

Reserves & Surplus

104027.800

129771.800

167447.600

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

106921.500

132665.500

170341.300

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

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

216120.100

225865.200

217666.800

 

 

4.509

(3.630)

 

 

 

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

216120.100

225865.200

217666.800

Profit

28137.400

39296.700

38275.600

 

13.02%

17.40%

17.58%

 

 

 

ABRIDGED BALANCE SHEET – (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

2893.700

2893.700

(b) Reserves & Surplus

 

175672.000

137309.400

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

(3) Non-controlling interest

 

0.300

0.400

Total Shareholders’ Funds (1) + (2)

 

178566.000

140203.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Sales tax Deferral

 

1199.000

1178.600

(c) Deferred tax liabilities (Net)

 

3136.200

2028.000

(d) Other long term liabilities

 

565.300

707.300

(e) long-term provisions

 

781.300

475.700

Total Non-current Liabilities (3)

 

5681.800

4389.600

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

0.000

(b) Trade payables

 

22359.800

20271.100

(c) Other current liabilities

 

8559.300

6410.000

(d) Short-term provisions

 

1209.300

1129.500

Total Current Liabilities (4)

 

32128.400

27810.600

 

 

 

 

TOTAL

 

216376.200

172403.700

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

18986.100

19363.800

(ii) Intangible Assets

 

446.500

892.900

(iii) Capital work-in-progress

 

106.400

268.900

(iv) Intangible assets under development

 

315.300

253.500

(b) Non-current Investments

 

74586.700

77179.300

(c) Deferred tax assets (net)

 

3999.400

3736.500

(d)  Long-term Loan and Advances

 

297.400

294.700

(e) Other Non-current assets

 

22953.100

23085.000

Total Non-Current Assets

 

121690.900

125074.600

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

60500.800

13199.400

(b) Inventories

 

7283.800

7190.700

(c) Trade receivables

 

9532.900

7179.300

(d) Cash and cash equivalents

 

3013.600

8670.300

(e) Short-term loans and advances

 

757.600

70.500

(f) Other current assets

 

13596.600

11018.900

Total Current Assets

 

94685.300

47329.100

 

 

 

 

TOTAL

 

216376.200

172403.700

 

 

PROFIT & LOSS ACCOUNT– (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

230880.300

238832.000

 

Other Income

 

12222.300

9845.800

 

TOTAL

 

243102.600

248677.800

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

132853.600

137170.100

 

Purchases of Stock-in-Trade

 

13824.700

12764.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

(436.800)

634.500

 

Excise duty

 

13213.500

12966.800

 

Employees benefits expense

 

9973.900

9171.200

 

Expenses, included in above items, capitalised

 

(222.700)

(170.200)

 

Share of profits of associate (after tax)

 

(2546.200)

(2214.400)

 

Other expenses

 

17480.200

18484.800

 

TOTAL

 

184140.200

188806.800

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

58962.400

59871.000

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

14.000

10.500

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

58948.400

59860.500

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

3072.900

3071.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

55875.500

56788.900

 

 

 

 

 

Less

TAX

 

15080.700

16176.500

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

40794.800

40612.400

 

 

 

 

 

 

Profit attributable to non-controlling interest

 

(0.100)

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  FOR THE YEAR   

 

40794.490

40612.400

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

141

140.3

 

LEGAL CASES

 

 

Bench:-Bombay

 

Presentation Date:-

30/05/2016

Lodging No.:-

SL/594/2016

Filing Date:-

30/05/2016

Reg. No.:-

S/294/2017

Reg. Date:-

24/04/2017

 

 

 

 

 

 

Petitioner:-

OFFICIAL LIQUIDATOR HIGH COURT BOMBAY OF SUNDEEP POLYMERS PRIVATE LIMTIED

Respondent

BAJAJ AUTO LIMITED

 

Petn.Adv.:-

Dileep balkrishna nevatia (I5977)

Resp Adv:

DHRU AND COMPANY

 

District:-

MUMBAI

 

 

 

Bench:-

SINGLE

Status:-

Pre-Admission

Category:-

SUITS FOR DAMAGES

 

Next Date:-

11/04/2018

Stage:-

FOR ADMISSION/DENIAL OF DOCUMENTS

 

Coram:-

HON'BLE SHRI JUSTICE K.R. SRIRAM

 

Last Date:-

21/03/2018

Stage:-

FOR ADMISSION/DENIAL OF DOCUMENTS

 

Last Coram:-

HON'BLE SHRI JUSTICE K.R. SRIRAM

 

 

Act :-

Code of Civil Procedure 1908

 

 

Bench:-Bombay

 

Presentation Date:-

18/08/2016

Lodging No.:-

CEXAL/231/2016

Filing Date:-

18/08/2016

Reg. No.:-

CEXA/312/2016

Reg. Date:-

28/12/2016



 

Petitioner:-

THE COMMISSIONER OF CENTRAL EXCISE AND SERVICE TAX (LTU) 

Respondent

BAJAJ AUTO LIMITED

 

Petn.Adv.:-

SHAM V WALVE (I3200)

Resp Adv:

MAX LEGAL (I10731)

 

Bench:-

DIVISION

 

Status:-

Pre-Admission

Category:-

CENTRAL EXCISE APPEAL (CEXA)

 

Next Date:-

16/04/2018

Stage:-

FOR ADMISSION

 

Coram:-

HON'BLE SHRI JUSTICE M.S. SANKLECHA

 

HON'BLE SHRI JUSTICE S. K. SHINDE

 

Last Date:-

04/01/2018

Stage:-

FOR ADMISSION

 

Last Coram:-

HON'BLE SHRI JUSTICE M.S. SANKLECHA

 

HON'BLE SHRI JUSTICE R. I. CHAGLA

 

Act :-

Central Excise & Salt Act

Under Section:-

35G

 

 

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

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

BACKGROUND

 

The Company is a company limited by shares, incorporated and domiciled in India. The Company is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles etc. and parts thereof. The Company sells its products in India as well as various other global markets.

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

On 28 February 2017, the Central Statistical Organisation of the Government of India has pegged its advance estimate of India’s real GDP growth for 2016-17 (or FY2017) at 7.1%. While better than all developed and most emerging markets of the world, including China, it was not as good as the 7.9% GDP growth achieved in FY2016. Qualitatively, the results were similar when measured in terms of gross value added (GVA) at constant prices. Real GVA growth for FY2017 is estimated at 6.7% versus 7.8% in FY2016.

 

There are three main reasons for this deceleration of growth. The first is insufficient investments which translate to additional income and employment. Gross fixed capital formation (GFCF) for FY2017 as a share of GDP has steadily fallen: from 31.7% in FY2015 to 31.1% in FY2016 to a low of 29.2% for FY2017.

 

The second has to do with the substantial overhang of non-performing loans across the banking system, especially the public sector banks. This has significantly reduced the banks’ appetite for making large term loans, without which there can be no investment-led growth. The third reason may be related to the temporary effects of demonetising H 500 and H 1,000 notes, which came into effect on 8 November 2016. Although the third quarter estimates (for October- December 2016) show no appreciable dip in either real GDP or GVA, there is no doubt that removing over 86% of the value of currency in circulation and substituting it with a slower injection of new notes created demand and cash constraints throughout the economy. It remains to be seen what the overall effect of this will be on growth for the second half of FY2017.

 

How was FY2017 for India’s two-and three-wheeler industry The market for motorcycles has continued to remain sluggish. Though domestic sales grew by 3.7% in the year, it was after a de-growth of 0.4% in the previous year. Compared to FY2015, the growth in FY2017 was a mere 1.6% per annum — from 10.7 million units two years earlier to 11.1 million in the current year. In fairness, it needs to be told that ungeared scooters have continued to do well. Leveraging urban commuter demand especially among younger women, these have grown at 11.5% in FY2017 and currently account for almost 30% of total two-wheeler domestic sales and exports.

 

Not surprisingly, given the sluggish growth of economy and the impact of cash shortages due to demonetisation, overall three-wheeler sales have been negatively affected: domestic sales were down by almost 5% to 511,658 units in FY2017. Exports, too, were lower on account of major depreciation of currencies of key importing nations plus the fact that many of them faced acute shortage of hard currencies. More of this is discussed in the section on exports.

 

In such a difficult scenario, how did Bajaj Auto Limited (‘Bajaj Auto’ or ‘BAL’) perform Sales and profits fell, but BAL continued to earn the highest operating margins in the industry and grew its net surplus by 36%. This is best seen by a quick look at the financials.

 

 

INDEX OF CHARGES:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G54289277

10122149

Central Bank of India

26/07/2008

-

27.09.2017

4300000000.0

CORPORATE FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, FORT, MUMBAI – 400023, MAHARASHTRA, INDIA

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBR 2017

 

        (INR IN MILLION)

 

 

PARTICULARS

Quarter Ended

Nine Months Ended

1

 

Income from Operations

31.12.2017

30.09.2017

31.12.2017

 

 

 

 

 

 

 

 

Sales/Income from Operations (Gross)

62462.300

64613.000

184478.300

 

 

b) Other Operating Income

1231.100

1051.300

3421.300

 

Total revenue from operations

63693.400

65664.300

187899.600

 

Other income

2268.700

2964.400

9805.900

 

Total income

65962.100

68628.800

197705.500

2

Expenses

 

 

 

 

a)

Cost of Materials consumed

39709.700

41167.000

115105.900

 

b)

Purchase of Stock-in-trade

4044.000

3259.700

10623.000

 

c)

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(207.000)

1065.400

1402.600

 

d)

Excise Duty

-

(134.800)

3983.400

 

e)

Employee benefit expenses

2651.900

2643.900

8021.200

 

f)

Finance Costs

3.000

4.700

10.100

 

g)

Depreciation and amortization expense

746.800

769.700

2269.100

 

h)

Other expenses

5258.800

4719.700

14246.200

 

i)

Expenses Capitalised

(78.500)

(40.500)

(164.600)

 

Total Expenses

52128.700

53454.800

155496.900

 

 

 

 

 

3

 

Profit before exceptional items and tax

13833.400

15173.900

42208.600

8

Exceptional Items

0.000

0.000

320.000

9

Profit before tax

13833.400

15173.900

41888.600

10

Tax Expense

4309.000

4055.300

12006.300

11

Net Profit for the period  

9524.400

11118.600

29882.300

 

Other Comprehensive Income:

 

 

 

 

Item that will not be reclassified to profit f loss

83.900

(44.200)

(4.400)

 

Item that will be reclassified to profit f loss

839.300

(774.300)

104.900

 

Other Comprehensive Income for the year, net of taxes

923.200

(818.500)

100.500

 

Total Other Comprehensive Income for the period

10447.600

10300.100

29982.800

12

Paid up equity share capital (Eq. shares of  INR10/- each)

2893.700

2893.700

2893.700

13

Reserve excluding revaluation reserves

 

 

 

14

 

Earnings per share (before/after extraordinary items) of  INR 10/- each

 

 

 

 

 

Basic & Diluted

32.90

38.40

103.30

 

NOTE:

 

1. Other Income includes following:

Particulars

Quarter Ended

Nine Months Ended

 

31.12.2017

30.09.2017

31.12.2017

Investment Income

1614.700

2415.300

7970.100

Others

654.000

549.100

1835.800

 

2. Exceptional Items represent on one time payment to dealers to compensate them for any losses incurred on introduction of GST as a result of pre-GST. Investory held on 30 June 2017

 

3. The company has adopted to publish Extract of the Unaudited/Audited Consolidated Financial Results, pursuant to option made available as per Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015. These standalone financial results are available on the company’s.

 

4. INR 10.000 Million equal to INR 10.000 Million

 

5. The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on 20 July 2017 and subject to a limited review by the statutory auditor.

 

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2017

31.03.2016

a Claims against the Company not acknowledged as debts

4452.800

4548.600

b Guarantees given by the Company to Housing Development Finance Corporation Ltd. - for loans to employees (as on 1 April 2015 - H 28,529)

0.000

0.000

c Excise and Customs demand - matters under dispute and claims for refund of Excise Duty, if any, against Excise Duty Refund received in the earlier year

7146.900

7106.700

d Income-tax matters

6537.200

5839.500

e Value Added Tax (VAT)/Sales Tax matters under dispute

1198.700

1181.000

f Claims made by temporary workmen

Pending before various judicial/appellate authorities in respect of similar matters adjudicated by the Supreme Court. The matter is contingent on the facts and evidence presented before the courts/adjudicating authorities and not necessarily likely to be influenced by the Supreme Court's order

Liability

unascertained

Liability

unascertained

 

 

FIXED ASSETS

 

  • Land freehold
  • Land leasehold
  • Buildings
  • Waterpumps, reservoirs and mains
  • Plant and machinery
  • Computers and IT Equipment
  • Dies and jigs
  • Electric installations
  • Factory equipments
  • Furniture
  • Office equipment
  • Electric fittings
  • Vehicles and aircraft

 

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 65.06

UK Pound

1

INR 92.06

Euro

1

INR 80.37

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA  

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

RKI

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.