|
|
|
MIRA INFORM REPORT
|
Report No. : |
506739 |
|
Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
KEC INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
RPG House, 463, Dr. Annie Besant Road, Worli, Mumbai – 400030,
Maharashtra |
|
Tel. No.: |
91-22- 66670200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
18.03.2005 |
|
|
|
|
Com. Reg. No.: |
11-152061 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 514.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45200MH2005PLC152061 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0388020709 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCK5599H1Z2 |
|
|
|
|
TIN No.: |
27310530416 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK5599H |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject engaged in Engineering, Procurement and Construction business (EPC) relating to products, projects and systems for power transmission, distribution and related activities. (Registered Activity) |
|
|
|
|
No. of Employees
: |
4207 (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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
` |
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of “RPG Group”. The company was incorporated in the year 2005 and it is primarily engaged in Engineering, Procurement and Construction business (EPC) relating to infrastructure interalia products, projects and systems for Power transmission, distribution and related activities.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
08.01.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limits = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
08.01.2018 |
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
31-03-2018.
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 02.05.2018
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 DECLINED
Management non-cooperative (Tel No.:91-22-66670200 / 66670297)
LOCATIONS
|
Registered Office / Power Transmission – International / Power Systems
/ Water Plant : |
1st Floor, RPG House, 463, Dr. Annie Besant Road, Worli,
Mumbai – 400 030, Maharashtra, India |
|
Tel. No.: |
91-22-66670200/ 66670297 |
|
Fax No.: |
91-22-66972799/ 28204052/ 66670299/ 66670287/ 66670260 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Transmission – South Asia/ Power Systems – South Asia /Railways
/Telecom Plant : |
8th Floor, Building No 9A, DLF Cyber City Phase III,
Gurgaon – 122 002, Haryana, India |
|
Tel. No.: |
91-124-6757555 |
|
|
|
|
Cables Plant : |
6th Floor, RPG House, 463, Dr. Annie Besant Road, Worli,
Mumbai – 400 025, Maharashtra, India |
|
Tel. No.: |
91-22-66670300/ 305 |
|
|
|
|
Tower Manufacturing Facilities (Plant 1) : |
Nagpur: B-190, M.I.D.C. Industrial Estate, Butibori, Nagpur – 441 108,
Maharashtra, India |
|
Tel. No.: |
91-7104-662209 |
|
|
|
|
Tower Manufacturing Facilities (Plant 2) : |
Jaipur: Plot No.14-15, Jhotwara Industrial Area, Jhotwara,
Jaipur – 302 012, Rajasthan, India |
|
Tel. No.: |
91-141-2340214/ 6700201 |
|
|
|
|
Tower Manufacturing Facilities (Plant 3) : |
Jabalpur: Deori Village, PO: Panagar, Jabalpur – 483
220, Madhya Pradesh, India |
|
Tel. No.: |
91-761-2350024/ 25/ 40 |
|
|
|
|
Cable Manufacturing Facilities (Plant 1) : |
Thane: 2nd Pokhran Road, Thane – 400 601, Maharashtra, India |
|
Tel. No.: |
91-22-21731743 |
|
|
|
|
Cable Manufacturing Facilities (Plant 2) : |
Mysore: 349, Hebbal Industrial Area, Hootagalli,
Belavadi Post, Mysore – 570 018, Karnataka, India |
|
Tel. No.: |
91-821-2402401/ 6553375 |
|
|
|
|
Cable Manufacturing Facilities (Plant 3) : |
Silvassa: Plot No.273/4, Demni Road, Dadra, Silvassa
– 396 193, Dadra
and Nagar Haveli, India |
|
Tel. No.: |
91-260-2668518/ 6618500 |
|
|
|
|
Cable Manufacturing Facilities (Plant 4) : |
Vadodara: Village Godampura (Samalya), Taluka –
Savli, Vadodara – 391 520, Gujarat, India |
|
|
|
|
Overseas Plant 1 – Transmission : |
Mexico Arco Vial Saltillo-Nuevo
Laredo Km. 24.1, C.P. 66050-79 Escobedo, N. L. Mexico |
|
|
|
|
Overseas Plant 2 – Transmission : |
Brazil R. Moacyr G. Costa, 15 -
Jd. Piemont Sul 32669-722 - Betim / MG, Brazil |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vimal Kejriwal |
|
Designation : |
Managing Director |
|
Address : |
41, Landmark, 175, Carter Road, Bandra West, Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
01.01.2015 |
|
PAN No.: |
AABPK0188N |
|
DIN No.: |
00026981 |
|
|
|
|
Name : |
Mr. Harsh Vardhan Goenka |
|
Designation : |
Director |
|
Address : |
14/15A, II-Palazzo, B. G. Kher Marg, Mumbai - 400006, Maharashtra, India |
|
Qualification : |
Arts Graduate and BA, MBA (Geneva) |
|
Date of Appointment : |
12.01.2006 |
|
DIN No.: |
00026726 |
|
|
|
|
Name : |
Mr. Shobhasingh Rajaramsingh Thakur |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sharad Madhav Kulkarni |
|
Designation : |
Director |
|
Address : |
161/A, Twin Towers, V.S.Road, Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Qualification : |
Bachelor Of Engineering : Fie (India) F Institute Of Directors (Uk) Fellow-Institute Of Management (Uk) |
|
Date of Appointment : |
12.01.2006 |
|
DIN No.: |
00003640 |
|
|
|
|
Name : |
Mr. Vinayak Chatterjee |
|
Designation : |
Director |
|
Address : |
E-2278, Palam Vihar, Gurugram - 122017, Haryana, India |
|
Date of Appointment : |
30.04.2014 |
|
DIN No.: |
00008933 |
|
|
|
|
Name : |
Mr. Ramesh Chandak |
|
Designation : |
Director |
|
Address : |
1202, Shrushti Towers, Old Prabhadevi Road, Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Qualification : |
M. Com., Fca |
|
Date of Appointment : |
26.12.2005 |
|
DIN No.: |
00026581 |
|
|
|
|
Name : |
Mr. Gulu Lalchand Mirchandani |
|
Designation : |
Director |
|
Address : |
D-131, Tahnee Heights,, Petit Hall, Napeansea Road, Mumbai - 400006, Maharashtra, India |
|
Qualification: |
B. Mechanical |
|
Date of Appointment : |
12.01.2006 |
|
DIN No.: |
00026664 |
|
|
|
|
Name : |
Mr. Dilip Gopikisan Piramal |
|
Designation : |
Director |
|
Address : |
Piramal House, 61, Pochkhanwala Road, Worli, Mumbai - 400030, Maharashtra, India |
|
Date of Appointment : |
12.01.2006 |
|
DIN No.: |
00032012 |
|
|
|
|
Name : |
Mr. Ajit Tekchand Vaswani |
|
Designation : |
Director |
|
Address : |
502, Solitaire, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India |
|
Qualification: |
CA, CS |
|
Date of Appointment : |
12.01.2006 |
|
DIN No.: |
00057953 |
|
|
|
|
Name : |
Manisha Girotra |
|
Designation : |
Additional Director |
|
Address : |
M-21, Greater Kailash II New Delhi – 110048, India |
|
Date of Appointment : |
06.02.2018 |
|
DIN No.: |
00774574 |
|
|
|
|
Name : |
Mr. Sudhir Mohan Trehan |
|
Designation : |
Director |
|
Address : |
501-502, Loutus-Lal Kamal Building, Nutan Laxmi Cooperative Housing Society, 9th North South Road, JVPD Scheme Ville Parle West, Mumbai - 400056, Maharashtra, India |
|
Date of Appointment : |
30.10.2012 |
|
DIN No.: |
00060106 |
|
|
|
|
Name : |
Nirupama Rao |
|
Designation : |
Director |
|
Address : |
Apartment D, Springleaf Apartments, No. 6 Brunton Cross Road, Bangalore - 560025, Karnataka, India |
|
Date of Appointment : |
31.10.2014 |
|
DIN No.: |
06954879 |
KEY EXECUTIVES
|
Name : |
Mr. Vimal Kejriwal |
|
Designation : |
Chief Executive Officer |
|
Address : |
41, Landmark, 175, Carter Road, Bandra West, Mumbai - 400050, Maharashtra, India |
|
Date of Appointment : |
01.04.2015 |
|
PAN No.: |
AABPK0188N |
|
|
|
|
Name : |
Mr. Rajeev Girraj Aggarwal |
|
Designation : |
Chief Finance Officer |
|
Address : |
G 2704, Oberoi Splendor Grande, JVLR Road, Andheri (East), Mumbai - 400060, Mumbai, 400060, Maharashtra, India |
|
Date of Appointment : |
01.09.2014 |
|
PAN No.: |
AACPA7811R |
|
|
|
|
Name : |
Mr. Venkata Jagannadha Rao Chunduru |
|
Designation : |
Vice President – Legal and Company Secretary |
|
Address : |
8/302, Seawoods Estates, Palm Beach Marg, Nerul, Navi Mumbai., Mumbai - 400706, Maharashtra, India |
|
Date of Appointment : |
12.01.2006 |
|
PAN No.: |
ABFPC5452Q |
SHAREHOLDING PATTERN
AS ON March, 2018
|
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 % |
|
|
(A) Promoter & Promoter Group |
131083293 |
50.99 |
|
|
(B) Public |
126005077 |
49.01 |
|
|
Grand Total |
257088370 |
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 |
5058080 |
1.97 |
|
|
Mr. Harsh Vardhan Goenka Mrs. Mala Goenka
Mr. Anant Vardhan Goenka |
4848425 |
1.89 |
|
|
Mr. Harsh Vardhan Goenka (Held as Karta of
Harsh Anant Goenka HUF) |
169500 |
0.07 |
|
|
Mr. Anant Vardhan Goenka |
40000 |
0.02 |
|
|
Mr. Harsh Vardhan Goenka Mrs. Mala Goenka
(Held as a Trustee of Stellar Energy Trust) |
100 |
0.00 |
|
|
Mrs. Mala Goenka Mr. Harsh Vardhan
Ramprasad Goenka Mr. Anant Vardhan Goenka |
50 |
0.00 |
|
|
Mr. Harsh Vardhan Goenka Mrs. Mala Goenka
(Held as Trustee of Crystal India Tech Trust) |
1 |
0.00 |
|
|
Mr. Harsh Vardhan Goenka Mrs. Mala Goenka
(Held as a Trustee of Nucleus Life Trust) |
1 |
0.00 |
|
|
Mr. Harsh vardhan Goenka Mrs. Mala Goenka
(Held as a Trustee of Prism Estate Trust) |
1 |
0.00 |
|
|
Mr. Harsh Vardhan Goenka Mrs. Mala Goenka (
Held as a Trustee of Monitor Portfolio Trust) |
1 |
0.00 |
|
|
Mr. Harsh Vardhan Goenka Mrs. Mala Goenka
(Held as a Trustee of Secura India Trust) |
1 |
0.00 |
|
|
Any Other (specify) |
126025213 |
49.02 |
|
|
Swallow Associates LLP |
69546616 |
27.05 |
|
|
Summit Securities Limited |
27753845 |
10.80 |
|
|
Instant Holdings Limited |
21042105 |
8.18 |
|
|
Stel Holdings Limited |
4685880 |
1.82 |
|
|
Carniwal Investments Limited |
2970981 |
1.16 |
|
|
Atlantus Dwellings and Infrastructure LLP |
25000 |
0.01 |
|
|
Chhatarpati Apartments LLP |
785 |
0.00 |
|
|
Sudarshan Electronics and TV Limited |
1 |
0.00 |
|
|
Sub Total A1 |
131083293 |
50.99 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
131083293 |
50.99 |
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/ |
47015270 |
18.29 |
|
|
HDFC Trustee Co. Ltd- A/C - HDFC Mid Cap
Opportunities Fund |
18198378 |
7.08 |
|
|
Reliance Capital Trustee Company Ltd A/C
Reliance Diversified Power Sector Fund |
6215457 |
2.42 |
|
|
Kotak Select Focus Fund |
4300000 |
1.67 |
|
|
L and T Mutual Fund Trustee Ltd- L and T
India Value Fund |
3432714 |
1.34 |
|
|
Aditya Birla Sun Life Trustee Private
Limited A/c Aditya Birla Sun Life Small and Mid Cap Fnd |
3358600 |
1.31 |
|
|
Alternate Investment Funds |
30000 |
0.01 |
|
|
Foreign Portfolio Investors |
27399741 |
10.66 |
|
|
FIL Investments ( Mauritius) Limited |
2849333 |
1.11 |
|
|
Financial Institutions/ Banks |
513185 |
0.20 |
|
|
Insurance Companies |
4360311 |
1.70 |
|
|
Life Insurance Corporation of India |
4360311 |
1.70 |
|
|
Any Other (specify) |
6980 |
0.00 |
|
|
Foreign Bank |
5480 |
0.00 |
|
|
UTI |
1500 |
0.00 |
|
|
Sub Total B1 |
79325487 |
30.86 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200
million |
27840488 |
10.83 |
|
|
Individual share capital in excess of INR
0.200 million |
4396099 |
1.71 |
|
|
Any Other (specify) |
14443003 |
5.62 |
|
|
Trusts |
590525 |
0.23 |
|
|
Foreign Nationals |
43575 |
0.02 |
|
|
HUF |
1256849 |
0.49 |
|
|
Overseas Corporate Bodies |
46425 |
0.02 |
|
|
Non-Resident Indian (NRI) |
1628687 |
0.63 |
|
|
Director or Director's Relatives |
5 |
0.00 |
|
|
Clearing Members |
755289 |
0.29 |
|
|
Bodies Corporate |
8612297 |
3.35 |
|
|
IEPF |
1509351 |
0.59 |
|
|
Sub Total B3 |
46679590 |
18.16 |
|
|
B=B1+B2+B3 |
126005077 |
49.01 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in Engineering, Procurement and Construction business (EPC) relating to products, projects and systems for power transmission, distribution and related activities. (Registered Activity and also Confirmed by management)) |
||||
|
|
|
||||
|
Product / Services: |
|
||||
|
|
|
||||
|
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 : |
5000 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
INDIA
MIDDLE EAST
US
MEXICO
BRAZIL
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskin
and Sells Chartered Accountants |
|
Address : |
Tower 3, 27th
– 32nd Floor, Indianuils Finance Centre, Elphinstone Mill
Compound, Senapti Bapat Marg, Elphinstone (West), Mumbai - 400013,
Maharashtra, India |
|
Tel No.: |
91-22-61854000 |
|
Fax No.: |
91-22-61854501/4601 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries: |
|
|
|
|
|
Post – Employment benefit plan : |
|
|
|
|
|
Entities where control / significant influence by KMPs and their relatives
exists and with whom transmission have taken place : |
|
CAPITAL STRUCTURE
After 26.07.2017
Authorised Capital : INR
1290.000 Million
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
257088370 |
Equity Shares |
INR 2/- each |
INR 514.177
million |
|
|
|
|
|
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
570000000 |
Equity Shares |
INR 2/- each |
INR 1140.000 million |
|
|
|
|
|
|
|
Total |
|
INR 1140.000
million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
257088370 |
Equity Shares |
INR 2/- each |
INR 514.177
million |
|
|
|
|
|
Reconciliation of number of equity Shares and amount outstanding at the
beginning and at the end of the year:
|
Particulars |
31.03.2017 |
|
|
Nos. |
Amount (INR in million) |
|
|
Equity Shares: |
|
|
|
Equity shares
outstanding |
257088370 |
514.177 |
Shareholders holding more than 5% equity Shares in the company as at the
end of the year:
|
Name of the
shareholder* |
31.03.2017 |
|
|
Nos. of Shares
Held |
Percentage of
shares held |
|
|
Swallow Associates LLP |
69546616 |
27.05 |
|
Summit Securities
Limited |
27602945 |
10.49 |
|
HDFC Trustee Company Limited |
23110249 |
8.99 |
|
Instant Holdings Limited |
17855651 |
6.45 |
*
Shares held in multiple folios have been combined.
3,750 fully paid up Equity Shares of INR 2 each were allotted to a trustee against 1,688 equity shares of the erstwhile RPG Transmission Limited (RPGT), since merged in the Company in 2007-08, where rights were kept in abeyance by RPGT. On settlement of the relevant court cases/issues, the Equity Shares issued to the trustee will be transferred.
The Company has only one class of Equity Shares having a face value of INR 2 each. Every member shall be entitled to be present, and to speak and vote and upon a poll the voting right of every member present in person or by proxy shall be in proportion to his share of the paid-up equity share capital of the Company. The Company in General Meeting may declare dividends to be paid to members, but no dividends shall exceed the amount recommended by the Board, but the Company in General Meeting may declare a smaller dividend.
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.
FINANCIAL DATA
[all figures are
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 |
514.177 |
514.177 |
514.177 |
|
(b) Reserves & Surplus |
16043.208 |
13308.408 |
10594.704 |
|
(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) |
16557.385 |
13822.585 |
11108.881 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2508.269 |
1674.487 |
2083.891 |
|
(b) Deferred tax liabilities (Net) |
1321.256 |
1104.960 |
703.615 |
|
(c) Other long term
liabilities |
100.652 |
0.000 |
100.000 |
|
(d) long-term
provisions |
291.942 |
216.726 |
108.702 |
|
Total Non-current
Liabilities (3) |
4222.119 |
2996.173 |
2996.208 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
12007.021 |
23423.570 |
12524.433 |
|
(b) Trade
payables |
20046.263 |
18554.352 |
28615.318 |
|
(c) Other
current liabilities |
23421.568 |
20366.939 |
5104.157 |
|
(d) Short-term
provisions |
641.823 |
729.930 |
1105.253 |
|
Total Current
Liabilities (4) |
56116.675 |
63074.791 |
47349.161 |
|
|
|
|
|
|
TOTAL |
76896.179 |
79893.549 |
61454.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5657.694 |
6381.630 |
5960.374 |
|
(ii)
Intangible Assets |
2277.043 |
1997.021 |
1283.501 |
|
(iii)
Capital work-in-progress |
42.304 |
66.429 |
124.169 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(v) Trade receivables |
264.054 |
490.045 |
0.000 |
|
(a) Non-current Investments |
516.190 |
1072.527 |
65.651 |
|
(b) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(c) Long-term Loan and Advances |
0.000 |
0.000 |
2922.291 |
|
(d) Other
Non-current assets |
2932.350 |
3458.673 |
1688.283 |
|
Total Non-Current
Assets |
11689.635 |
13466.325 |
12044.269 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2697.608 |
2527.029 |
3719.871 |
|
(c) Trade
receivables |
39488.365 |
43842.640 |
32265.682 |
|
(d) Cash
and cash equivalents |
1554.671 |
688.946 |
1261.333 |
|
(e)
Short-term loans and advances |
1653.948 |
1728.487 |
5383.894 |
|
(f) Other
current assets |
19811.952 |
17640.122 |
6779.201 |
|
Total
Current Assets |
65206.544 |
66427.224 |
49409.981 |
|
|
|
|
|
|
TOTAL |
76896.179 |
79893.549 |
61454.250 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
75664.353 |
76904.173 |
65920.901 |
|
|
|
|
Other Income |
370.840 |
155.753 |
1774.100 |
|
|
|
|
TOTAL |
76035.193 |
77059.926 |
67695.001 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
35999.210 |
36490.320 |
35451.678 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
16.320 |
189.223 |
(27.912) |
|
|
|
|
Employees benefits expense |
5059.174 |
4496.957 |
3572.257 |
|
|
|
|
Other expenses |
9748.853 |
8659.035 |
7539.060 |
|
|
|
|
Erection and Sub-contracting Expenses |
17734.084 |
20277.566 |
16111.150 |
|
|
|
|
TOTAL |
68557.641 |
70113.101 |
62646.233 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
7477.552 |
6946.825 |
5048.768 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
2088.314 |
2379.440 |
2521.326 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5389.238 |
4567.385 |
2527.442 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
1153.891 |
1180.097 |
704.034 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
4235.347 |
3387.288 |
1823.408 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
1417.099 |
1432.891 |
716.058 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
2818.248 |
1954.397 |
1107.350 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
|
|
12535.458 |
11608.244 |
|
|
|
|
Freight recovered on sales |
|
281.338 |
162.846 |
|
|
|
|
Tower testing charges and
design charges |
|
689.810 |
457.219 |
|
|
|
|
Sales and Services : overseas
projects |
|
9305.906 |
12687.737 |
|
|
|
|
Interest income |
|
20.348 |
4.040 |
|
|
|
|
Dividend income from wholly owned
subsidiaries/ jointly controlled entity |
|
992.890 |
351.095 |
|
|
|
|
Share of Profit from Joint
Venture |
|
412.346 |
261.818 |
|
|
|
|
Guarantee Charges received
from a wholly owned subsidiary/joint venture |
NA |
13.586 |
11.898 |
|
|
|
|
Others (Insurance claims,
etc.) |
|
3.747 |
11.627 |
|
|
|
TOTAL EARNINGS |
|
24255.429 |
25556.524 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials and components |
|
5262.782 |
2991.208 |
|
|
|
|
Spares parts / Dies and tools |
|
10.930 |
15.582 |
|
|
|
|
Purchase of capital goods |
|
66.19 |
43.109 |
|
|
|
TOTAL IMPORTS |
|
5339.902 |
3049.899 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
10.96 |
6.15 |
4.31 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
502.550 |
806.978 |
|
Cash generated from operations |
16321.346 |
843.267 |
1825.174 |
|
Net cash flow from operating activity |
15449.369 |
(373.047) |
626.528 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
17444.700 |
18836.600 |
20857.100 |
|
Total Expenditure |
15841.200 |
16863.100 |
18634.400 |
|
PBIDT (Excl OI) |
1603.500 |
1973.500 |
2222.700 |
|
Other Income |
56.300 |
47.700 |
49.200 |
|
Operating Profit |
1659.800 |
2021.200 |
2271.900 |
|
Interest |
465.900 |
477.300 |
495.800 |
|
Exceptional Items |
0.000 |
NA |
NA |
|
PBDT |
1193.900 |
1543.900 |
1776.100 |
|
Depreciation |
236.300 |
242.200 |
236.200 |
|
Profit Before Tax |
957.600 |
1301.700 |
1539.900 |
|
Tax |
326.000 |
449.500 |
516.800 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
631.600 |
852.200 |
1023.100 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
631.600 |
852.200 |
1023.100 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
190.49 |
208.08 |
178.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
1.92 |
1.75 |
2.04 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
203.25 |
185.59 |
294.61 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.77 |
2.75 |
1.36 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.94 |
0.82 |
0.69 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.76 |
0.82 |
0.82 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.88 |
1.85 |
1.39 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.39 |
4.56 |
4.26 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.48 |
0.61 |
0.66 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.58 |
2.92 |
2.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
3.72 |
2.54 |
1.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.67 |
2.45 |
1.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
17.02 |
14.14 |
9.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.16 |
1.05 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.11 |
1.01 |
0.96 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.22 |
0.17 |
0.18 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
28.23 |
49.79 |
29.98 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
1.16 |
1.05 |
1.04 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 402.95/- |
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 |
514.177 |
514.177 |
514.177 |
|
Reserves & Surplus |
10594.704 |
13308.408 |
16043.208 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
11108.881 |
13822.585 |
16557.385 |
|
|
|
|
|
|
long-term borrowings |
2083.891 |
1674.487 |
2508.269 |
|
Short term borrowings |
12524.433 |
23423.570 |
12007.021 |
|
Current Maturities of Long
term debt |
806.978 |
502.550 |
0.000 |
|
Total
borrowings |
15415.302 |
25600.607 |
14515.290 |
|
Debt/Equity
ratio |
1.388 |
1.852 |
0.877 |
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 |
65920.901 |
76904.173 |
75664.353 |
|
|
|
16.661 |
-1.612 |
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
|
65920.901 |
76904.173 |
75664.353 |
|
Profit |
1107.350 |
1954.397 |
2818.248 |
|
|
1.68% |
2.54% |
3.72% |
BALANCE
SHEET (CONSOLIDATED)
(INR in Million)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
514.177 |
514.177 |
|
(b) Reserves & Surplus |
|
15349.362 |
12389.683 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
15863.539 |
12903.860 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
7655.948 |
5928.842 |
|
(b) Deferred tax liabilities
(Net) |
|
1373.237 |
1203.819 |
|
(c) Other long term
liabilities |
|
100.652 |
0.000 |
|
(d) long-term provisions |
|
348.960 |
202.619 |
|
Total
Non-current Liabilities (3) |
|
9478.797 |
7335.280 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
12325.363 |
24300.091 |
|
(b) Trade payables |
|
21983.226 |
20265.083 |
|
(c) Other current liabilities |
|
26932.455 |
23272.262 |
|
(d) Short-term provisions |
|
697.891 |
833.337 |
|
Total
Current Liabilities (4) |
|
61938.935 |
68670.773 |
|
|
|
|
|
|
TOTAL |
|
87281.271 |
88909.913 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
8103.382 |
8825.603 |
|
(ii) Intangible Assets |
|
2971.823 |
3151.674 |
|
(iii) Capital work-in-progress |
|
51.034 |
83.892 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(v) Trade receivables |
|
264.054 |
490.045 |
|
(b) Non-current Investments |
|
520.121 |
1072.527 |
|
(c) Deferred tax assets (net) |
|
133.213 |
170.035 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
4687.851 |
3539.532 |
|
Total
Non-Current Assets |
|
16731.478 |
17333.308 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
1303.916 |
253.478 |
|
(b) Inventories |
|
3946.688 |
3601.572 |
|
(c) Trade receivables |
|
42003.500 |
46575.982 |
|
(d) Cash and cash equivalents |
|
2079.710 |
853.084 |
|
(e) Short-term loans and
advances |
|
451.092 |
1179.180 |
|
(f) Other current assets |
|
20764.887 |
19113.309 |
|
Total
Current Assets |
|
70549.793 |
71576.605 |
|
|
|
|
|
|
TOTAL |
|
87281.271 |
88909.913 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
(INR in Million)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
85843.950 |
85177.951 |
|
|
Other Income |
|
288.661 |
102.589 |
|
|
TOTAL |
|
86132.611 |
85280.540 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
41736.973 |
41333.094 |
|
|
Excretion and sub
contracting expenses |
|
17842.901 |
20277.566 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
-90.652 |
187.716 |
|
|
Employees benefits
expense |
|
7326.657 |
6392.091 |
|
|
Other expenses |
|
10849.301 |
10064.211 |
|
|
TOTAL |
|
77665.180 |
78254.678 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
8467.431 |
7025.862 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
2536.117 |
2793.882 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
5931.314 |
4231.980 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1296.875 |
1317.814 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
4634.439 |
2914.166 |
|
|
|
|
|
|
|
Less |
TAX |
|
1586.655 |
1435.480 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
3047.784 |
1478.686 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
11.86 |
5.75 |
LEGAL CASES
LEGAL CASE FILE ATTACHED
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) |
Yes |
|
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 |
GENERAL INFORMATION
Subject is a public limited company incorporated and domiciled in India. The registered office of the company is located at RPG House. 463, Dr. Annie Besant, Worli, Mumbai – 400030.
The company is primarily engaged in Engineering Procurement and Construction business (EPC) relating to infrastructure interalia products, projects and systems for power transmission, distribution, and related activities.
PERFORMANCE
Financial Performance
The Company continued on its growth trajectory in financial year 2016-2017
On a consolidated basis, the Company achieved a turnover of INR 87550.000 Million, with a marginal growth over FY 2015-16. Revenue continued to be impacted due to the commodity prices remaining flat for a major part of the year, and slow down in the oil producing economies. However, the Company delivered significantly on the profitability front, with EBITDA margins on a consolidated level expanding by 126 bps for FY 2016-17 from INR 6920.000 Million in FY 2015-16 to INR 8180.000 Million in FY 2016-17. The margin improvement was primarily driven by internal efficiencies and improvements in margin profile of businesses like railways and the Company’s wholly owned subsidiary SAE Towers. The net profit for the year was INR 3050.000 Million in FY 2016-17 as against INR 1480.000 Million in FY 2015-16, a strong growth of 106 percent Year on Year. The Company could achieve substantial reduction in its interest costs through better working capital management, which resulted in a significant improvement in profitability. On a standalone basis, the Company achieved a turnover of INR 77370.000 Million and a net profit of INR 2820.000 Million.
During the year, the Company secured orders of INR 123610.00 Million; which is an impressive 42 percent increase over last year. The sharp increase in the order book was led by the international T&D business, which made substantial inroads into new geographies and the railways business, which could benefit from increased spending on railway infrastructure in the country. The closing order book of the Company was at INR 126310.000 Million, with a significant contribution from verticals like railways and solar. The order book profile gives good visibility on both the revenue and profitability front.
Power Transmission and Distribution - The power transmission and distribution business continues to be the largest business vertical which includes construction of power transmission lines on turnkey basis as well as construction of Gas Insulated Substations (GIS) and Air Insulated Substations (AIS) on turnkey basis. During the year, this vertical secured orders of INR 93450.000 Million across the domestic and international markets.
In the domestic markets, the Company has successfully broadened its customer base to include private players who are setting up power transmission projects in India, as well as State Electricity Boards. The Company continues to be a major contractor for Power Grid Corporation of India Limited.
On the international front, despite global uncertainties and subdued commodity prices for a larger part of the financial year, the Company was able to achieve a significant order intake in international markets.
As part of its diversification strategy, the Company was able to enter the East Asia Pacific region with tender wins in Malaysia and Thailand. Also, within the Middle East the Company successfully de-risked its exposure in certain key markets with tender wins in Jordan and Egypt. In Africa, the Company could win projects in countries like Tanzania, Zambia, Mozambique and Senegal.
The Company has increased its focus on executing turnkey contracts in Brazil through its wholly owned subsidiary, SAE Towers.
Railways - The railway business saw a remarkable growth in FY 2016-17, both in terms of order intake as well as revenues. This vertical secured orders worth INR 14270.000 Million, which includes both overhead electrification works and composite turnkey contracts for various railway agencies in India. The Company has closed almost all the legacy projects in the railways business leading to a much improved profitability.
Renewables - The Company continued to consolidate its presence in the solar EPC space and this business vertical secured orders worth INR 6130.000 Million in FY 2016-17. The Company also bagged a large order for a 100 MW solar project in South India.
Cables - The Cables business secured orders worth INR 9760.000 Million in FY 2016-17. Soft commodity prices continued to affect the business in the first half of the year. However, the Company was able to turn this business around and this vertical was able to achieve profitability in FY 2016-17.
Civil - In view of the high growth potential, the Company has forayed into Civil EPC business. To start with, the Company has identified Industrial Plants, Residential and Non Residential buildings as attractive areas in Civil space.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 INR
in Million |
31.03.2016 INR
in Million |
|
Short-term
borrowings |
|
|
|
Other short term
borrowings |
|
|
|
- From banks |
1009.060 |
1449.276 |
|
Total
|
1009.060 |
1449.276 |
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULT FOR QUARTER AND NINE MONTHS ENDED
DECEMBER 31, 2017
|
PARTICULARS |
Quarter Ended |
Nine months ended |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
1. Income from Operations |
|
|
|
|
Net Sales/income from
operations |
20857.100 |
18836.600 |
57138.400 |
|
Other Operating Income |
49.200 |
47.700 |
153.200 |
|
Total income from operations (net) |
20906.300 |
18884.300 |
57291.600 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost of materials consumed |
9761.400 |
9091.600 |
26872.400 |
|
Changes in inventories of finished goods. work-in-progress and stock
in trade |
(41.500) |
(89.800) |
(314.800) |
|
Employee benefits expense |
1360.200 |
1345.000 |
4029.000 |
|
Erection and sub contracting expenses |
5661.100 |
4471.400 |
14468.100 |
|
Depreciation and Amortization Expenses |
236.200 |
242.200 |
714.700 |
|
Other Expenses |
1893.200 |
2044.900 |
5900.500 |
|
Finance Costs |
495.800 |
477.300 |
1439.000 |
|
Excise Duty |
0.000 |
0.000 |
383.500 |
|
Total expenses |
19366.400 |
17582.600 |
53492.400 |
|
Profit/ (Loss) before tax |
1539.900 |
1301.700 |
3799.200 |
|
Tax expenses |
516.800 |
449.500 |
1292.300 |
|
Net Profit / (Loss) after tax |
1023.100 |
852.200 |
2506.900 |
|
Other Comprehensive
Income: |
|||
|
A. Items that will not be reclassified to profit or loss |
(5.400) |
(5.700) |
(16.200) |
|
Income tax relating to items that will be reclassified to profit or loss |
1.900 |
1.900 |
5.600 |
|
B. Items that will be reclassified to profit or loss |
114.800 |
(110.900) |
(36.000) |
|
Income tax relating to items that will be reclassified to profit or loss |
(52.900) |
73.100 |
22.100 |
|
Other Comprehensive Income for the year, net of taxes |
58.400 |
(41.600) |
(24.500) |
|
Total Other Comprehensive
Income for the period |
1081.500 |
810.600 |
2482.400 |
|
|
|
|
|
|
Paid up equity share capital (Face Value of INR 2/-each) |
514.200 |
514.200 |
514.200 |
|
Earnings per share (before extraordinary items) of INR 2/- each (not annualized): |
|
|
|
|
(a) Basic |
3.98 |
3.31 |
9.75 |
|
(b) Diluted |
3.98 |
3.31 |
9.75 |
Note:
1. The above results were reviewed by the Audit Committee at its meeting held on February 05, 2018 and approved by the Board of Directors at its meeting held on February 06,2018, The statutory auditors of the Company have conducted a "Limited Review" of the above Standalone Unaudited Financial Results.
2. The above financial results of the Company have been prepared in accordance
with Indian Accounting Standard ("Ind AS") as prescribed under
Section 133 of the Companies Act, 2013 read with the relevant rules issued
thereunder and the other accounting principles generally accepted in India.
3. Post the applicability of Goods and Services Tax (GST) with effect from July
1,2017, revenue is required to be disclosed net of GST. Accordingly, the gross
revenue figures for the quarter and nine months ended December 31,2017 are not
comparable with the previous period presented in the results.
4. The listed secured non-convertible debentures aggregating to Rs. 250 Crore
issued by the Company are secured by way of first charge on immovable and
movable properties of the Company situated at Vadodara and Mysore and the
Company maintains 100% asset cover.
5. The Company is primarily engaged in the business of Engineering, Procurement
and Construction (EPC) relating to products, projects and systems for power
transmission, distribution and related activities. As such there is no separate
reportable operating segment as defined by Ind AS 108 - "Operating
Segments".
6. The Company has opted to publish Extract of Consolidated Unaudited Financial
Results for the quarter and nine months ended December 31, 2017. The
Consolidated and Standalone Financial Results for the quarter and nine months
ended December 31, 2017 of the Company prepared in accordance with Regulation
33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 will be available on the website of the Company, Bombay Stock Exchange
Limited and National Stock Exchange of India Limited.
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G37122405 |
100077223 |
IDBI TRUSTEESHIP SERVICES LIMITED |
13/01/2017 |
23/02/2017 |
- |
2500000000.0 |
ASIAN BUILDING, GROUND FLOOR17 R KAMANI MARG, BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
2 |
G21929740 |
100059934 |
IDBI TRUSTEESHIP SERVICES LIMITED |
07/11/2016 |
- |
- |
1710000000.0 |
ASIAN BUILDING, GROUND FLOOR17 R KAMANI MARG, BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
3 |
A95209995 |
10240711 |
DENA BANK |
16/09/2010 |
- |
- |
62500000.0 |
ANDHERI (WEST) BRANCH, "DEEPAVALI",SWAMI VIVEKANAND ROAD,ANDHERI (WEST),MUMBAI-400058, MAHARASHTRA, INDIA |
|
4 |
C60104486 |
10198804 |
BANK OF INDIA |
10/02/2010 |
19/06/2015 |
- |
120000000000.0 |
MUMBAI LARGE CORPORATE BRANCH,ORIENTAL BUILDING, 364, DR. D. N. ROAD, FORT,MUMBAI-400001, MAHARASHTRA, INDIA |
|
5 |
C69456499 |
10160904 |
IDBI TRUSTEESHIP SERVICES LIMITED |
18/05/2009 |
14/10/2015 |
- |
120000000000.0 |
ASIAN BUILDING, GROUND FLOOR17 R KAMANI MARG, BALLARD ESTATE, MUMBAI-400001, MAHARASHTRA, INDIA |
|
6 |
A40843278 |
10108502 |
THE PRADESHIYA INDUSTRIAL & INVESTMENT CORPORATION OF U.P. LTD. |
25/06/2008 |
- |
- |
220815331.43 |
PICUP BHAWN, GOMTI NAGAR, LUCKNOW-226010, UTTAR PRADESH, INDIA |
|
7 |
A33585571 |
10090177 |
The Pradeshiya Industrial and Investment Corporation of U. P. Limited (PICUP) |
20/02/2008 |
- |
- |
84613115.0 |
PICUP BHAWN, GOMTI NAGAR, LUCKNOW-226010, UTTAR PRADESH, INDIA |
|
8 |
Z01065897 |
80059040 |
THE PRADESHIYA INUSTRIAL & INVESMENT CORPN OF U P LD |
28/09/1998 |
- |
- |
36880825.43 |
PICUP BHAWN, GOMTI NAGAR, LUCKNOW-226010, UTTAR PRADESH, INDIA |
|
9 |
Z00105915 |
80022976 |
THEPRADESHIYAINDLANDINVESTMENTCORPORATIONOFUPLTD |
15/07/1998 |
- |
- |
4531796.86 |
PICUP BHAWN, GOMTI NAGAR, LUCKNOW-226010, UTTAR PRADESH, INDIA |
|
10 |
Z00105674 |
80022867 |
THEPRADESHIYAINDUSTRIALANDINVESTMENTCORPORATIONOFUPLIMITED |
25/03/1998 |
- |
- |
32349028.51 |
PICUP BHAWN, GOMTI NAGAR, LUCKNOW-226010, UTTAR PRADESH, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
(a) Claims against
the Company not acknowledged as debts: |
|
|
|
1 Sales Tax /Value Added Tax* (Tax/Penalty/Interest) |
1138.967 |
992.941 |
|
2 Excise Duty * (Tax/Penalty/Interest) |
546.718 |
523.492 |
|
3 Service Tax * (Tax/Penalty/ Interest) |
2878.383 |
2868.471 |
|
4 Entry Tax * (Tax/Penalty/Interest) |
6.985 |
125.299 |
|
5(i) Income Tax matters mainly in respect of allowance of depreciation etc. relating to Power Transmission Business acquired by the Company where Department is in appeal in the Supreme Court. |
156.004 |
191.846 |
|
(ii) Income Tax matters at overseas unit/s and of joint venture |
297.006 |
313.661 |
|
6 Customs Duty |
6.014 |
6.014 |
|
7 Civil Suits |
6.702 |
6.702 |
|
8 (i) Claims including amounts withheld by the Customers of the Company |
722.562 |
1762.987 |
|
(ii) Claim by the sub-contractor of
a joint operation (Company’s Share) |
0.000 |
88.914 |
*These claims mainly relate to the issues of applicability, issue of disallowance of cenvat / VAT credit and in case of Sales Tax / Value Added Tax, also relate to the issue of submission of relevant forms and the Company’s claim of exemption for MVAT on export sales and services.
#excluding financial guarantees
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computers
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 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
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
YES |
|
--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.