|
|
|
MIRA
INFORM REPORT
|
Report No. : |
501311 |
|
Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PATIL RAIL INFRASTRUCTURE PRIVATE LIMITED (w.e.f. 16.01.2007) |
|
|
|
|
Formerly Known
As : |
PATIL RAIL INFRASTRUCTURE LIMITED (w.e.f. 02.04.2004) PATIL VOSSLOH RAIL FASTNERS LIMITED |
|
|
|
|
Registered
Office : |
6-3-1239/B/111, 4th Floor, Renuka Enclave, Raj Bhavan
Road, Somajiguda, Hyderabad – 500082, Telangana |
|
Tel. No.: |
91-40-44556700 / 6800 / 27805759 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
25.04.1996 |
|
|
|
|
Com. Reg. No.: |
36-023894 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 249.316 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60100TG1996PTC023894 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0907004971 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP04603E |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
36AADCP8340E1ZI |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP8340E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the business of railway track engineering, manufacturing of concrete sleepers, rail fittings for normal track, elevated and underground track for Metro Rail, Switches and Crossings (Thick Web Technology), Ballastless Track suitable for High-Speed Lines, Bridges, Tunnels and Aprons. It has manufacturing locations across India and supplies to Railways, Metro Projects etc., the company is also engaged in drawing and stranding of High Tesile Steel Wire which is an input in the manufacture of Pre-Stressed Concrete Sleepers. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1996 and it is a manufacturer of metal and metal products. It is also engaged in business of railway track engineering, designing and manufacturing of concrete sleepers and composite sleepers. As per financials of March 2017, the company has registered a growth of 18.45% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 2.97%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth along with comfortable debt coverage indicators and decent liquidity position. Rating also takes into account the extensive experience of its promoters, strong brand image with relatively large market share, presence of expertise and collaborations with reputed players. Further, the company has reported earnings per share of INR 4.66 against its face value of INR 10. However, rating strength is partially offset by client concentration risk in revenue profile with high dependence on Indian Railways, working capital intensive nature of operations and capital expansion programme. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
29.09.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
29.09.2017 |
RBI DEFAULTERS’ LIST STATUS
Subjec
t’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.:
91-40-39556700 / 6800
LOCATIONS
|
Registered Office / Corporate Office 1 : |
6-3-1239/B/111, 4th Floor, Renuka Enclave, Raj Bhavan
Road, Somajiguda, Hyderabad – 500082, Telangana, India |
|
Tel. No.: |
91-40-44556700 / 6800 / 27805759 / 39556810 |
|
Fax No.: |
91-40-44556750 / 6890 / 27800936 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office: |
The Safe Legend, 3rd and 4th Floor, 6-3-1239/B/111, Renuka
Enclave, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Telangana, India |
|
Tel. No.: |
91-40-39556800 |
|
Fax No.: |
91-40-39556750 |
|
|
|
|
Factory 1 : |
Udava Rly Quarry Area, NH- 8, Udava post (RS), Valsad District – 396185, Gujarat, India |
|
Tel. No.: |
91-8452-225134 |
|
Fax No.: |
91-8452-225134 |
|
|
|
|
Factory 2 : |
Udwada Railway Quarry Area, NH – 8, PO Udwada (R.S.) District
Valsad – 396 185, |
|
Tel. No.: |
91-260-2340701 |
|
Fax No.: |
91-260-2340040 |
|
E-Mail : |
|
|
|
|
|
Design and Engineering Office / Marketing Office : |
B-5/4, IInd Floor, Safdarjung Enclave, |
|
Tel. No.: |
91-11-26178765 |
|
Fax No.: |
91-11-26178765 |
|
|
|
|
Regional Office : |
MDH, 4/40, Sector – H, Jankipuram, Lucknow – 226021, Uttar Pradesh, India |
|
|
|
|
Wire Units : |
Located at:
|
|
|
|
|
Sleeper Units: |
Located at:
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Padmaja Patil Lingaraj |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
8-2-293/82/HH/83 and 84, Huda Heights, MLA Colony, Road 12, Banjara Hills, Hyderabad - 500034, Telangana, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.06.1971 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate in Law |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.02.2004 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AJRPP7701P |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00731574 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Lingaraj Shantalingappa Patil |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
8-2-293/82/HH/83&84, Huda Heights, MLA Colony, Road 12, Banjara Hills, Hyderabad - 500034, Telangana, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.12.1967 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
MBA, Chicago |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.12.2016 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAIPL9444R |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00731663 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Swapan Kumar Ghosh |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
BJ-59, Satl Lake City Sector - II Kolkata 700091, West
Bengal, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.11.1949 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
27.03.2017 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ADYPG3962E |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00506732 |
||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Kokkonda Subrahmaniyam |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
H.NO.15-11-123, Ramannapet Warangal - 506002, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.07.1972 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.12.2016 |
||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AHOPK5641G |
||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05103213 |
||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Lingaraj Shantalingappa Patil |
|
Designation : |
Chief Finance Officer |
|
Address : |
8-2-293/82/HH/83&84, Huda Heights, MLA Colony, Road 12, Banjara Hills, Hyderabad - 500034, Telangana, India |
|
Date of Birth/Age : |
31.12.1967 |
|
Qualification : |
MBA, Chicago |
|
Date of Appointment : |
08.12.2016 |
|
PAN No.: |
AAIPL9444R |
|
|
|
|
Name : |
Asfia Moin |
|
Designation : |
Company Secretary |
|
Address : |
1-32 Narsingi, Hyderabad = 500075, Telangana, India |
|
Date of Birth/Age : |
10.11.1987 |
|
Date of Appointment : |
30.05.2017 |
|
PAN No.: |
BLWPM0943A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Lingraj Shantlingappa Patil |
|
18623001 |
|
Padmaja Patil |
|
4196923 |
|
Kartikeyan Patil |
|
833738 |
|
Sangamma Patil |
|
711666 |
|
Vaishnavi Patil |
|
566273 |
|
Total |
|
24931601 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the business of railway track engineering, manufacturing of concrete sleepers, rail fittings for normal track, elevated and underground track for Metro Rail, Switches and Crossings (Thick Web Technology), Ballastless Track suitable for High-Speed Lines, Bridges, Tunnels and Aprons. It has manufacturing locations across India and supplies to Railways, Metro Projects etc., the company is also engaged in drawing and stranding of High Tesile Steel Wire which is an input in the manufacture of Pre-Stressed Concrete Sleepers. (Registered activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution: |
Vistra ITCL (India) Limited, IL & FS Financial Centre,
Plot No. C22, G Block Bandrakurla Complex, Bandra East, Mumbai – 400051,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Jayant and Sadashiv Chartered Accountants |
|
Address : |
404 and 405, Sanatana Eternal, Liberty Road, Himayat
Nagar, Hyderabad – 500029, Andhra Pradesh, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFJ9845R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary company: |
U00339BR1963PTC000710
U26959TG2007PTC092551
U74140BR1982PTC001682 |
|
|
|
|
Joint venture: |
U35201TG1996PTC025380 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
U45202KA2005PTC037780
U99999MH1984PLC033435
U20299TG2003PTC042133 |
|
|
|
|
Others : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38000000 |
Equity Shares |
INR 10/- each |
INR 380.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24931601 |
Equity Shares |
INR 10/- each |
INR 249.316
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
249.316 |
249.316 |
249.316 |
|
(b) Reserves and Surplus |
1271.118 |
1154.997 |
1171.276 |
|
(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) |
1520.434 |
1404.313 |
1420.592 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
879.669 |
532.539 |
413.901 |
|
(b) Deferred tax liabilities (Net) |
(4.464) |
7.611 |
2.976 |
|
(c) Other long-term
liabilities |
22.000 |
22.000 |
43.073 |
|
(d) long-term
provisions |
16.052 |
19.393 |
28.183 |
|
Total Non-current
Liabilities (3) |
913.257 |
581.543 |
488.133 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
546.679 |
568.408 |
859.212 |
|
(b) Trade
payables |
592.593 |
469.638 |
622.470 |
|
(c) Other
current liabilities |
365.867 |
553.489 |
800.789 |
|
(d) Short-term
provisions |
17.190 |
1.629 |
9.484 |
|
Total Current
Liabilities (4) |
1522.329 |
1593.164 |
2291.955 |
|
|
|
|
|
|
TOTAL |
3956.020 |
3579.020 |
4200.680 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
805.296 |
873.984 |
1120.337 |
|
(ii)
Intangible Assets |
0.070 |
0.094 |
250.726 |
|
(iii) Tangible assets
capital work-in-progress |
68.115 |
12.817 |
0.660 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
442.003 |
442.003 |
14.012 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
267.962 |
168.735 |
220.140 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
5.314 |
|
Total Non-Current
Assets |
1583.446 |
1497.633 |
1611.189 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
682.152 |
616.070 |
798.333 |
|
(c) Trade
receivables |
950.526 |
707.145 |
1202.266 |
|
(d) Cash and
bank balances |
242.096 |
252.104 |
269.854 |
|
(e)
Short-term loans and advances |
441.181 |
458.997 |
217.330 |
|
(f) Other
current assets |
56.619 |
47.071 |
101.708 |
|
Total
Current Assets |
2372.574 |
2081.387 |
2589.491 |
|
|
|
|
|
|
TOTAL |
3956.020 |
3579.020 |
4200.680 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3914.338 |
3304.626 |
4266.001 |
|
|
Other Income |
16.969 |
45.249 |
48.404 |
|
|
TOTAL |
3931.307 |
3349.875 |
4314.405 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2074.141 |
2087.858 |
2402.012 |
|
|
Purchases of
Stock-in-Trade |
677.374 |
285.716 |
476.205 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
23.957 |
(1.349) |
231.077 |
|
|
Employee benefit expense |
227.996 |
189.125 |
321.255 |
|
|
Other expenses |
499.022 |
459.783 |
569.058 |
|
|
TOTAL |
3502.490 |
3021.133 |
3999.607 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
428.817 |
328.742 |
314.798 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
232.648 |
199.976 |
276.294 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
196.169 |
128.766 |
38.504 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
92.122 |
103.124 |
148.881 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
104.047 |
25.642 |
(110.377) |
|
|
|
|
|
|
|
Less |
TAX |
(12.075) |
7.611 |
(0.179) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
116.122 |
18.031 |
(110.198) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.66 |
0.72 |
(4.42) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
3.146 |
9.196 |
216.391 |
|
Net cash flows from (used in) operations |
196.169 |
128.766 |
248.534 |
|
Net cash flows from (used in) operating activities |
212.161 |
144.635 |
248.534 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
88.63 |
78.11 |
102.87 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.12 |
4.67 |
3.55 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
78.61 |
72.22 |
78.94 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.63 |
0.53 |
0.39 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.49 |
0.37 |
0.23 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.61 |
0.60 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.94 |
0.79 |
1.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.00 |
1.13 |
1.61 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.57 |
0.63 |
0.97 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.84 |
1.64 |
1.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.97 |
0.55 |
(2.58) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.94 |
0.50 |
(2.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
7.64 |
1.28 |
(7.76) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.56 |
1.31 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.11 |
0.92 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.38 |
0.39 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.73 |
4.45 |
5.97 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.56 |
1.31 |
1.13 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
249.316 |
249.316 |
249.316 |
|
Reserves & Surplus |
1171.276 |
1154.997 |
1271.118 |
|
Net
worth |
1420.592 |
1404.313 |
1520.434 |
|
|
|
|
|
|
Long-term borrowings |
413.901 |
532.539 |
879.669 |
|
Short term borrowings |
859.212 |
568.408 |
546.679 |
|
Current maturities of
long-term debts |
216.391 |
9.196 |
3.146 |
|
Total
borrowings |
1489.504 |
1110.143 |
1429.494 |
|
Debt/Equity
ratio |
1.049 |
0.791 |
0.940 |
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 |
4266.001 |
3304.626 |
3914.338 |
|
|
0.000 |
(22.536) |
18.450 |
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 |
4266.001 |
3304.626 |
3914.338 |
|
Profit/ (Loss) |
(110.198) |
18.031 |
116.122 |
|
|
(2.58
%) |
0.55
% |
2.97
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
249.316 |
249.316 |
|
(b) Reserves and Surplus |
|
1275.559 |
1178.654 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1524.875 |
1427.970 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
880.535 |
543.000 |
|
(b) Deferred tax liabilities (Net) |
|
(3.482) |
13.109 |
|
(c) Other long-term
liabilities |
|
28.073 |
28.073 |
|
(d) long-term
provisions |
|
20.170 |
24.249 |
|
Total Non-current
Liabilities (3) |
|
925.296 |
608.431 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
|
666.658 |
757.784 |
|
(b) Trade
payables |
|
743.411 |
586.666 |
|
(c) Other
current liabilities |
|
492.529 |
688.332 |
|
(d) Short-term
provisions |
|
30.685 |
7.098 |
|
Total Current
Liabilities (4) |
|
1933.283 |
2039.880 |
|
|
|
|
|
|
TOTAL |
|
4383.454 |
4076.281 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
936.168 |
1027.810 |
|
(ii)
Intangible Assets |
|
250.657 |
250.681 |
|
(iii) Tangible assets
capital work-in-progress |
|
74.386 |
12.817 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
14.012 |
14.012 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
200.998 |
209.179 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1476.221 |
1514.499 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
846.853 |
773.181 |
|
(c) Trade
receivables |
|
1242.424 |
996.111 |
|
(d) Cash and
bank balances |
|
362.824 |
359.719 |
|
(e)
Short-term loans and advances |
|
314.610 |
293.154 |
|
(f) Other
current assets |
|
140.522 |
139.617 |
|
Total
Current Assets |
|
2907.233 |
2561.782 |
|
|
|
|
|
|
TOTAL |
|
4383.454 |
4076.281 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
4574.576 |
4099.088 |
|
|
Other Income |
|
25.806 |
53.746 |
|
|
TOTAL |
|
4600.382 |
4152.834 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2513.170 |
2564.363 |
|
|
Purchases of
Stock-in-Trade |
|
664.129 |
269.979 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
40.893 |
22.236 |
|
|
Employee benefit expense |
|
302.310 |
285.855 |
|
|
Other expenses |
|
606.053 |
592.082 |
|
|
TOTAL |
|
4126.555 |
3734.515 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
473.827 |
418.319 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
269.921 |
259.393 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
203.906 |
158.926 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
115.633 |
129.970 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
88.273 |
28.956 |
|
|
|
|
|
|
|
Less |
TAX |
|
(8.631) |
21.509 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
96.904 |
7.447 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
3.89 |
0.30 |
LEGAL
CASES
HIGH COURT
|
IRCON INTERNATIONAL LIMITED Vs. PATIL RAIL INFRASTRUCTURE PRIVATE
LIMITED |
|
High Court -Delhi |
|
Case No: O.M.P. (COMM) 251/2016 CAV 1010/2015 |
|
Case Status: Pending |
|
Judge: HON BLE MR. JUSTICE MANMOHAN SINGH |
|
Date: 2016-08-24 |
|
IRCON INTERNATIONAL LIMITED Vs. PATIL RAIL
INFRASTRUCTURE |
|
High Court -Delhi |
|
Case No: O.M.P. (COMM) 251/2016 CAV 1010/2015 |
|
Case status: Pending |
|
Judge: HON BLE DR. JUSTICE S. MURALIDHAR |
|
Date:2016-09-27 |
|
IRCON INTERNATIONAL LIMITED Vs. PATIL RAIL INFRASTRUCTURE PRIVATE
LIMITED. |
|
High Court --Delhi |
|
Case No: O.M.P. 493/2015 CAV 1010/2015 |
|
Case status: Pending |
|
Judge: HON BLE MR. JUSTICE MANMOHAN SINGH |
|
Date:16/05/10 |
|
IRCON INTERNATIONAL LIMITED Vs. PATIL RAIL INFRASTRUCTURE PRIVATE
LIMITED |
|
High Court --Delhi |
|
Case No: O.M.P. (COMM) 251/2016 |
|
Case Status: Pending |
|
Judge: HON BLE DR. JUSTICE S. MURALIDHAR |
|
Date:2016-12-14 |
|
SRI AVINASH DESAI PATIL RAIL INFRASTRUCTURE PRIVATE LIMITED. HYD & |
|
High Court --Andhra Pradesh |
|
Case No: CRP 2441/2017 CRPMP 3186/2017 CRPMP 3187/2017 |
|
Case Status: Pending |
|
Judge: HON BLE DR JUSTICE SHAMEEM AKTHER |
|
Date:2017-05-04 |
|
IRCON INTERNATIONAL LIMITED Vs. PATIL RAIL INFRASTRUCTURE PRIVATE
LIMITED. TRIPATHI |
|
High Court --Delhi |
|
Case No: I.A. 4329/2016 In O.M.P. 493/2015 |
|
Case Status: Pending |
|
Judge: HON BLE MR. JUSTICE V. KAMESWAR RAO |
|
Date:16/04/05 |
|
O.M.P.I COMM. 2952016 Through None. versus Through Mr. S.K. Jain and
Ms. Khushboo Bhardwaj and Ms. Reetika Wadhwa Advocates for Applicant in IA
No. 15432017. ORDER PATIL RAIL INFRASTRUCTURE PRIVATE LIMITED. Petitioner.
Respondents |
|
High Court - - Madras |
|
Case No:+ S.L. GUPTA & ANR. CORAM: JUSTICE S.MURALIDHAR |
|
Case Status: Pending |
|
Judge: |
|
Date:2017-10-20 |
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 |
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 |
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 |
CORPORATE INFORMATION
The Company commenced operations in 1996 from Hyderabad, Telengana and is in the business of railway track engineering, manufacturing of concrete sleepers, rail fittings for normal track, elevated and underground track for Metro Rail, Switches and Crossings (Thick Web Technology), Ballastless Track suitable for High-Speed Lines, Bridges, Tunnels and Aprons. It has manufacturing locations across India and supplies to Railways, Metro Projects etc., the company is also engaged in drawing and stranding of High Tesile Steel Wire which is an input in the manufacture of Pre-Stressed Concrete Sleepers.
FINANCIAL PERFORMANCE
During the year, the Company has earned income of INR 3931.307 Million against INR 3349.874 Million in the previous year. The Company has incurred a profit of INR 116.121 Million for the year as compared to profit of INR 18.030 Million in the previous year.
The performance and financial position of the subsidiary companies are included in the consolidated financial statement of the Company
BUSINESS OPERATIONS
Company together with its subsidiary companies (Patil Group) is one of the leading group Companies in Railway Track Engineering, the Group has its activities spread in the areas of manufacturing of Concrete Sleepers, Rail Fittings for normal track, elevated and underground track for Metro Rail, Switches and Crossings (Thick Web Technology), Ballastless Track suitable for High-Speed Lines, Bridges, Tunnels and Aprons.
Patil Group is now making its contribution in Metro Rail projects. It is supplying Fasteners exclusively for use in the Urban Rapid Mass Transport projects in Delhi and Chennai. It had already entered into Technology Partnerships with world leaders in Sleepers and Fasteners to give its products a technological edge. As the needs and shape of the Indian Railways is bound to change so is the preparedness of Patil Group to meet the challenges.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from others |
7.113 |
53.564 |
|
Loans repayable on demand from others |
2.119 |
2.147 |
|
Loans and advances from directors |
0.000 |
15.500 |
|
|
|
|
|
Total |
9.232 |
71.211 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G69604155 |
100138941 |
KOTAK MAHINDRA BANK LIMITED |
29/11/2017 |
- |
- |
250000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G39241773 |
100085699 |
ICICI BANK LIMITED |
20/03/2017 |
- |
- |
20000000.0 |
ICICI Bank Tower, Near Chakli Circle,Old Padra RoadVadodaraGu390007IN |
|
3 |
G74931155 |
100060125 |
VISTRA ITCL (INDIA) LIMITED |
09/11/2016 |
10/11/2017 |
- |
1350000000.0 |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRAKURLA COMPLEX BANDRA EASTMUMBAIMa400051IN |
|
4 |
C55797443 |
10574753 |
RELIANCE CAPITAL LTD |
29/04/2015 |
- |
- |
177500000.0 |
"H" BLOCK 1ST FLOORDhirubhai Ambani Knowledge City, KoparkhairneNavi MumbaiMH400710IN |
|
5 |
B97939391 |
10481307 |
RELIANCE CAPITAL LTD |
24/02/2014 |
- |
- |
80000000.0 |
"H" BLOCK 1ST FLOORDhirubhai Ambani Knowledge City, KoparkhairneNavi MumbaiMH400710IN |
|
6 |
G04300216 |
10480120 |
ICICI BANK LIMITED |
14/02/2014 |
24/05/2016 |
- |
300000000.0 |
Landmark, Race Course CircleVadodaraGJ390007IN |
|
7 |
G31748700 |
10470823 |
State Bank of Hyderabad |
09/01/2014 |
08/12/2016 |
- |
364100000.0 |
Industrial Finance Branch,Topaz, Amrutha Hills, PunjaguttaHyderabadTG500082IN |
|
8 |
B80746308 |
10439757 |
RELIANCE CAPITAL LTD |
05/07/2013 |
- |
- |
245000000.0 |
"H" BLOCK 1ST FLOORDhirubhai Ambani Knowledge City, KoparkhairneNavi MumbaiMH400710IN |
|
9 |
B79084372 |
10435600 |
STATE BANK OF INDIA |
16/05/2013 |
- |
- |
169000000.0 |
GAYA REGIONAL BUSINESS OFFICEGAYA MAIN BRANCH BUILDING, NEAR CIVIL COURTGAYABR823001IN |
|
10 |
A97805840 |
10247869 |
STATE BANK OF HYDERABAD |
27/09/2010 |
- |
- |
25000000.0 |
SUPER MARKET BRANCHGULBARGAKA585101IN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Leasehold improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.