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|
|
MIRA INFORM REPORT
|
Report No. : |
507454 |
|
Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
KIRLOSKAR PNEUMATIC COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Hadapsar
Industrial Estate, Pune – 411 013, Maharashtra |
|
Tel. No.: |
91-20-26727215/26727000 |
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|
Country : |
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|
|
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
08.11.1974 |
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|
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Com. Reg. No.: |
25-110307 |
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|
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Capital
Investment / Paid-up Capital : |
INR 128.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29120PN1974PLC110307 |
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|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturing testing and servicing of
(Registered activity) |
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|
|
|
No. of Employees
: |
787 (Approximately) |
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exits |
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Comments : |
Subject was incorporated in the year 1974. It is a part of Kirloskar Group of Companies. The company is a manufacturer of Air Conditioner, refrigeration, gas compressors and systems and transmission equipment. As per the financial of 2018, the company has achieved a fair growth of 13.51% in its revenue as compared to the previous year and has gained an average profitability margin of 8.23%. The healthy financial profile of the company is marked by satisfactory liquidity position, strong net worth base and negligible debt balance sheet profile. Rating takes into consideration the company’s favourable earnings per share of INR 38.90 against its face value of INR 10. Rating also takes into consideration the strength that the company derives from the Kirloskar Group and its well experienced management team. The company has its share price trading at around INR 1004.90 on BSE as on May 3, 2018 as against the Face Value (FV) of INR 10. Business is active. Payments are reported to be regular and as per commitments. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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 loans: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
02.02.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term loans: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
02.02.2018 |
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 04.05.2018
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-20-25219500/25219525)
LOCATIONS
|
Registered Office : |
Hadapsar Industrial Estate, Pune 411013, |
|
Tel. No.: |
91-20-26727000/ 6870133/ 6870341 / 26870297/26727215 |
|
Fax No.: |
91-20-26870297 / 634 |
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E-Mail : |
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Website : |
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Factory / Head
Office : |
Plot No.1, Hadapsar Industrial Estate, Pune - 411013, Maharashtra,
India |
|
Tel. No.: |
91-20-26727000 |
|
Fax No.: |
91-20-26870297 |
|
|
|
|
Saswad Plant : |
Saswad Industrial Estate, Near Waghire College, Taluka - Purandar,
Pune, Saswad – 412301, Maharashtra, India |
|
Tel. No.: |
91-2115-222403 / 222409 |
|
Fax No.: |
91-2115-222406 |
|
|
|
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Plant locations: |
·
Thermal Power Station Road, Nashik Road, Nashik |
|
|
|
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Branch office: |
1002, Vikas Centre, 10th Floor, DR.C.G. Road, Near Basant
Cinema, Opposite Bombay Residency Golf Club, Chembur (East), Mumbai - 400
074, Maharashtra, India |
|
Tel. No.: |
91-22-25219500 |
|
Fax No.: |
91-2225202516 |
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|
|
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Branch : |
Also Located at
: · Mumbai · New Delhi · Bangalore · Chennai · Hyderabad · Kolkata ·
Vadodara |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Aditya Kowshik |
|
Designation : |
Managing Director |
|
Address : |
1102 Redwood, Marigold Premises Kalyani Nagar, Wadgaon Sheri Pune
-411014, Maharashtra, India |
|
Date of Appointment : |
28.06.2011 |
|
DIN No.: |
00228983 |
|
|
|
|
Name : |
Rahul Chandrakant Kirloskar |
|
Designation : |
Wholetime Director |
|
Address : |
Lakaki Compound, Shivajinagar, Model Colony, Pune - 411016,
Maharashtra, India |
|
Date of Appointment : |
30.09.1993 |
|
DIN No.: |
00007319 |
|
|
|
|
Name : |
Atul Chandrakant Kirloskar |
|
Designation : |
Director |
|
Address : |
'Radha' 453, Gokhale Road, Pune - 411016, Maharashtra, India |
|
Date of Appointment : |
23.01.2012 |
|
DIN No.: |
00007387 |
|
|
|
|
Name : |
Dattatraya Ramkrishna Swar |
|
Designation : |
Director |
|
Address : |
Gurukrupa, Plot No. 30, Natraj Co-Operative Housing Soc. Karve Nagar,
Pune - 411052, Maharashtra, India |
|
Date of Appointment : |
25.04.2009 |
|
DIN No.: |
00007495 |
|
|
|
|
Name : |
Vikram Shreekant Kirloskar |
|
Designation : |
Director |
|
Address : |
Kirloskar Residence, Kirloskar Business Park, Bellary Road, Hebbal
Bangalore - 560024 Kerala, India |
|
Date of Appointment : |
28.06.2002 |
|
DIN No.: |
00007907 |
|
|
|
|
Name : |
Krishna Rao Gajavilli |
|
Designation : |
Director |
|
Address : |
Flat No. A-201, Soham Eternity, Plot No. 18-21 Ashiana Park-II, Survey
No. 277/29/2, Ba Ner, Aundh Pune - 411007, Maharashtra, India |
|
Date of Appointment : |
27.01.2006 |
|
DIN No.: |
00058985 |
|
|
|
|
Name : |
Sunil Shah Singh |
|
Designation : |
Director |
|
Address : |
L 501/502, Satellite Towers, A Block North Main Road, Mundhwa, Pune
-411036, Maharashtra, India |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
00233918 |
|
|
|
|
Name : |
Ajay Kumar Dua |
|
Designation : |
Director |
|
Address : |
B-3, Defence Colony New Delhi - 110024, India |
|
Date of Appointment : |
14.03.2016 |
|
DIN No.: |
02318948 |
|
|
|
|
Name : |
Aditi Apa Pant |
|
Designation : |
Director |
|
Address : |
Flat No 20, Golden Galaxy, S. No 20/5/2, Someshwar Park,Pashan, Pune -
411008, Maharashtra, India |
|
Date of Appointment : |
24.07.2014 |
|
DIN No.: |
06930011 |
|
|
|
|
Name : |
Krishnamurthi Venkataramanan |
|
Designation : |
Director |
|
Address : |
Varsha, Flat No.401 Janki Kutir, Juhu, Mumbai - 400049, Maharashtra,
India |
|
Date of Appointment : |
23.07.2016 |
|
DIN No.: |
00001647 |
KEY EXECUTIVES
|
Name : |
Suhas Sidheshwar Kolhatkar |
|
Designation : |
Chief Finance Officer |
|
Address : |
Flat No.A7/203, Shefalika Heights, Balwantpuram 110/1/A, Near Shivtirth
Nagar, Paud Road, Pune - 411038, Maharashtra, India |
|
Date of Appointment : |
27.05.2014 |
|
PAN No.: |
ABRPK1999G |
|
|
|
|
Name : |
Jitendra Rajaram Shah |
|
Designation : |
Company Secretary |
|
Address : |
173/5 Meghdoot, Mukundnagar Pune - 411037, Maharashtra, India |
|
Date of Appointment : |
10.01.2011 |
|
PAN No.: |
AVPPS2224L |
SHAREHOLDING PATTERN
AS ON 31.03.2018
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
6904052 |
53.75 |
|
(B) Public |
5940286 |
46.25 |
|
Grand Total |
12844338 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER
AND PROMOTER GROUP
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Individuals/Hindu undivided Family |
5611441 |
43.69 |
|
Rahul Chandrakant Kirloskar |
1493730 |
11.63 |
|
Atul Chandrakant Kirloskar |
1491840 |
11.61 |
|
Vikram Shreekant Kirloskar |
6202 |
0.05 |
|
Alpana Rahul Kirloskar |
396911 |
3.09 |
|
Arti Atul Kirloskar |
342062 |
2.66 |
|
Suman Chandrakant Kirloskar |
807 |
0.01 |
|
Mrinalini Shreekant Kirloskar |
1216 |
0.01 |
|
Jyotsna Gautam Kulkarni |
1865055 |
14.52 |
|
Alika Rahul Kirloskar |
12152 |
0.09 |
|
Gauri Atul Kirloskar |
33 |
0.00 |
|
Sanjay Chandrakant Kirloskar |
631 |
0.00 |
|
Pratima Sanjay Kirloskar |
132 |
0.00 |
|
Alok Kirloskar |
545 |
0.00 |
|
Rama Sanjay Kirloskar |
125 |
0.00 |
|
Any Other (specify) |
1292611 |
10.06 |
|
Kirloskar Industries Ltd |
1284598 |
10.00 |
|
Achyut And Neeta Holdings And Finance
Pvt.Ltd. |
6431 |
0.05 |
|
Cees Investments And Consultants Private
Limited |
1350 |
0.01 |
|
Alpak Investments Private Limited |
116 |
0.00 |
|
Navsai Investments Private Ltd |
116 |
0.00 |
|
Sub Total A1 |
6904052 |
53.75 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
6904052 |
53.75 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC
SHAREHOLDER
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
|
0.00 |
|
Mutual Funds/ |
2755038 |
21.45 |
|
Reliance Capital Trustee Co. Ltd. A/C - a.
Reliance Diversified Power Sector Fund |
1180245 |
9.19 |
|
HDFC Trustee Company Limited - a. HDFC
Prudence Fund b. HDFC Tax Saver Fund c. HDFC Index Fund - Sensex Plus Plan d.
HDFC Large Cap Fund (Stock A |
1155453 |
9.00 |
|
IDFC Premier Equity Fund |
414147 |
3.22 |
|
Foreign Portfolio Investors |
203467 |
1.58 |
|
Financial Institutions/ Banks |
1343 |
0.01 |
|
Insurance Companies |
345922 |
2.69 |
|
The New India Assurance Company Limited |
133647 |
1.04 |
|
Sub Total B1 |
3305770 |
25.74 |
|
B2) Central Government/ State
Government(s)/ President of India |
|
0.00 |
|
B3) Non-Institutions |
|
0.00 |
|
Individual share capital upto INR 0.200
Million |
1901980 |
14.81 |
|
Individual share capital in excess of INR
0.200 Million |
235297 |
1.83 |
|
Any Other (specify) |
497239 |
3.87 |
|
Bodies Corporate |
265337 |
2.07 |
|
Clearing Members |
5556 |
0.04 |
|
Enemy Property |
421 |
0.00 |
|
HUF |
50021 |
0.39 |
|
IEPF |
115843 |
0.90 |
|
Non-Resident Indian (NRI) |
50703 |
0.39 |
|
Trusts |
9358 |
0.07 |
|
Sub Total B3 |
2634516 |
20.51 |
|
B=B1+B2+B3 |
5940286 |
46.25 |
BUSINESS DETAILS
|
Line of Business
: |
Manufacturing testing and servicing of
(Registered activity) |
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Products / Services
: |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
787 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
P G Bhagwat Chartered Accountants |
|
Address : |
Pune, Maharashtra, India |
|
|
|
|
Secretarial Auditors: |
|
|
Name : |
M/s SVD and Associates Company Secretaries |
|
Address : |
Pune, Maharashtra, India |
|
|
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
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|
Holding Company (AS
ON 31.03.2017): |
Pneumatic Holdings Limited * |
|
|
|
|
Subsidiary Company
(AS ON 31.03.2017): |
Kirloskar RoadRailer Limited ** |
|
|
|
|
Associate Company
(AS ON 31.03.2017): |
Kirloskar Chillers Private Limited (Up to 29th December, 2016) |
|
|
|
|
Enterprise over which key management personnel exercise control/ significant influence (AS ON 31.03.2017): |
|
|
Note : Related Party relationship is as identified by the Company based on the available information and relied upon by the Auditors. * Ceases to be holding company wef 1st April, 2016 in terms of Amalmagation of the Company with Kirloskar Pneumatic Company Limited while pursuant to the Scheme of Arrangement and Amalgamation sanctioned by Honourable National Company Law Tribunal, Mumbai Bench on 19th April, 2017. ** Ceases to be subsidiary company wef 1st April, 2016 in terms of Amalmagation of the Company with Kirloskar Pneumatic Company Limited while pursuant to the Scheme of Arrangement and Amalgamation sanctioned by Honourable National Company Law Tribunal, Mumbai Bench on 19th April, 2017. |
|
CAPITAL STRUCTURE
AFTER 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 128.400 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
15000000 |
Equity Shares Kirloskar Road Railer Limited on Amalgamation |
INR 10/- each |
INR 150.000 Million |
|
7500000 |
Equity Shares Pneumatic Holdings Limited on Amalgamation |
INR 10/- each |
INR 75.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 375.000
Million |
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12844338 |
Equity Shares |
INR 10/- each |
INR 128.443 Million |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12844338 |
Equity Shares |
INR 10/- each |
INR 128.443 Million |
|
7007551 |
Less : Cancelled on Amalgamation |
INR 10/- each |
INR 70.075 Million |
|
7007551 |
Add: Share Capital Suspense Account Equity Shares
of each fully paid issued and pending for allotment to Equity Shareholders of
Pneumatic Holdings Limited pursuant to the Scheme of Arrangement & Amalgamation
sanctioned by Honourable National Company Law Tribunal, Mumbai Bench on 19th
April, 2017. |
INR 10/- each |
INR 70.075 Million |
|
|
|
|
|
|
|
Total |
|
INR 128.443
Million |
Rights attached to Equity Shares :
The Company has only one class of share capital, i.e. equity shares having face value of Rs.10/- per share.
Each holder of equity share is entitled to one vote per share.
Share Holding
Details: Before cancellation and pending allotment of shares to shareholders of
Pneumatic
Holdings Limited
|
Shareholder holding more than 5% |
Nos. |
|
|
|
|
a) Pneumatic Holdings Limited |
7007551 54.56% |
|
b) Kirloskar Industries Limited |
1186866 9.24% |
|
*c) Reliance Capital Trustee Co. Ltd. |
1088231 8.47% |
|
*d) HDFC Trustee Co. Ltd. |
814603 6.34% |
|
* Consolidated holding of all schemes |
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES
OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
128.400 |
128.443 |
128.443 |
|
(b) Reserves & Surplus |
4487.500 |
3716.688 |
3086.892 |
|
(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) |
4615.900 |
3845.131 |
3215.335 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.900 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
4.100 |
4.685 |
6.302 |
|
(d) long-term provisions |
47.700 |
53.052 |
45.375 |
|
Total
Non-current Liabilities (3) |
58.700 |
57.737 |
51.677 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1628.200 |
947.383 |
935.492 |
|
(c) Other current liabilities |
1019.500 |
664.557 |
642.551 |
|
(d) Short-term provisions |
33.900 |
218.528 |
181.361 |
|
Total
Current Liabilities (4) |
2681.600 |
1830.468 |
1759.404 |
|
|
|
|
|
|
TOTAL |
7356.200 |
5733.336 |
5026.416 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
700.000 |
720.848 |
719.487 |
|
(ii) Intangible Assets |
48.100 |
82.299 |
97.929 |
|
(iii) Capital work-in-progress |
647.200 |
362.398 |
6.888 |
|
(iv) Intangible assets under
development |
28.200 |
0.000 |
0.000 |
|
(b) Non-current Investments |
457.200 |
25.308 |
73.310 |
|
(c) Deferred tax assets (net) |
54.700 |
38.427 |
12.821 |
|
(d) Long-term Loan and Advances |
28.600 |
50.147 |
38.243 |
|
(e) Other Non-current assets |
26.900 |
6.128 |
5.314 |
|
(f) Trade receivables |
6.100 |
|
|
|
Total
Non-Current Assets |
1997.000 |
1285.555 |
953.992 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1530.200 |
1742.680 |
1471.862 |
|
(b) Inventories |
894.200 |
737.781 |
573.844 |
|
(c) Trade receivables |
2086.900 |
1307.548 |
1515.514 |
|
(d) Cash and cash equivalents |
613.000 |
271.062 |
234.949 |
|
(e) Short-term loans and
advances |
13.000 |
117.712 |
113.833 |
|
(f) Other current assets |
221.900 |
270.998 |
162.422 |
|
Total
Current Assets |
5359.200 |
4447.781 |
4072.424 |
|
|
|
|
|
|
TOTAL |
7356.200 |
5733.336 |
5026.416 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
6005.000 |
5290.094 |
5088.779 |
|
|
Other Income |
163.400 |
272.817 |
211.002 |
|
|
TOTAL
|
6168.400 |
5562.911 |
5299.781 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3055.200 |
2723.445 |
2720.568 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
61.000 |
(75.767) |
(29.414) |
|
|
Employees benefits expense |
891.800 |
876.645 |
819.584 |
|
|
Other expenses |
1258.700 |
1167.690 |
1081.541 |
|
|
TOTAL |
5266.700 |
4692.013 |
4592.279 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
901.700 |
870.898 |
707.502 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.300 |
0.359 |
0.157 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
899.400 |
870.539 |
707.345 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
172.600 |
172.972 |
190.897 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
726.800 |
697.567 |
516.448 |
|
|
|
|
|
|
|
Less |
TAX |
227.400 |
170.589 |
152.660 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
499.400 |
526.978 |
363.788 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
185.046 |
199.397 |
|
|
|
|
|
|
|
Add |
On account of Amalgamation - Pneumatic Holdings Limited |
NA |
615.788 |
0.000 |
|
|
|
|
|
|
|
Add |
On account of Amalgamation - Kirloskar RoadRailer Limited |
NA |
(4.396) |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
NA |
4.396 |
0.000 |
|
|
|
Transfer to General Reserve |
NA |
510.807 |
270.000 |
|
|
Interim Dividend to the shareholders
of |
NA |
39.665 |
89.910 |
|
|
Proposed Dividend |
NA |
0.000 |
0.000 |
|
|
Tax on Dividend |
NA |
8.074 |
18.229 |
|
|
Balance
Carried to the B/S |
NA |
764.870 |
185.046 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
169.918 |
156.020 |
|
|
Dividend Received |
NA |
0.000 |
0.817 |
|
|
Supervision Charges |
NA |
4.323 |
9.489 |
|
|
Sale of Investment |
NA |
3.394 |
0.000 |
|
|
TOTAL
EARNINGS |
NA |
177.635 |
166.326 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
469.910 |
398.774 |
|
|
Components and Stores parts |
NA |
29.115 |
44.066 |
|
|
Capital Goods |
NA |
1.798 |
0.000 |
|
|
TOTAL
IMPORTS |
NA |
500.823 |
442.840 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
38.90 |
41.03 |
28.32 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash from operations |
NA |
168.308 |
528.175 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
126.85 |
90.22 |
108.70 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.88 |
4.05 |
3.36 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
194.52 |
126.97 |
125.51 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.01 |
1.18 |
1.23 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.63 |
0.75 |
0.86 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.37 |
0.32 |
0.35 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.58 |
0.48 |
0.55 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.31 |
0.30 |
0.26 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
392.04 |
2425.90 |
4506.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.32 |
9.96 |
7.15 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.79 |
9.19 |
7.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.82 |
13.71 |
11.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.00 |
2.43 |
2.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.67 |
2.03 |
1.99 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.63 |
0.67 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.05 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.00 |
2.43 |
2.31 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 871.50/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
128.443 |
128.443 |
128.400 |
|
Reserves & Surplus |
3086.892 |
3716.688 |
4487.500 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
3215.335 |
3845.131 |
4615.900 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
6.900 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long term debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
6.900 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.001 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
5088.779 |
5290.094 |
6005.000 |
|
|
|
3.956 |
13.514 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
5088.779 |
5290.094 |
6005.000 |
|
Profit/(Loss) |
363.788 |
526.978 |
499.400 |
|
|
7.15% |
9.96% |
8.32% |
LEGAL
CASE
CASE STATUS
|
Case Details |
|
|
Case Type |
OSM |
|
Filing No. |
100197/2011 Filing date: 30-11-2011 |
|
Registration No. |
100197/2011 Registration date: 30-11-2011 |
|
Case code |
205601001972011 |
|
|
|
|
CASE STATUS |
|
|
First Hearing Date |
04-01-2012 |
|
Next Hearing Date |
07-11-2014 |
|
Purpose of Hearing |
ISSUES |
|
Court No & Judge |
1 - Principal District Judge |
|
|
|
|
Petitioner(s) & Advocate(s) |
|
|
Petitioner - Bay-Forge Limited. Address - Palayanoor village and post, Vedanthangal road, Ma Advocate - Mr.T.Chandran |
|
|
Respondent(s) & Advocate(s) |
|
|
Respondent - Kirloskar Pneumatic co., Ltd. Address - Hadapsar Industrial Estate, Hadapsar, Pune. Advocate - |
|
|
ACTS |
|
|
Under Act(s) |
--- |
|
Under Section(s) |
--- |
|
Subject |
|
|
|
|
|
LOWER COURT INFORMATION |
|
|
Court No & Name |
--- |
|
Case No & Year |
--- |
|
Case Decision Date |
-- |
|
History Of Case Hearing |
|||||||
|
Regn. No. |
Judge |
Bussiness on Date |
Hearing Date |
Purpose of Hearing |
|||
|
100197/2011 |
Principal District Judge |
04-01-2012 |
SUMMON |
||||
|
100197/2011 |
Principal District Judge |
04-01-2012 |
16-02-2012 |
FRESH SUMMON |
|||
|
100197/2011 |
Principal District Judge |
16-02-2012 |
28-03-2012 |
FRESH SUMMON |
|||
|
100197/2011 |
Principal District Judge |
28-03-2012 |
18-06-2014 |
ISSUES |
|||
|
100197/2011 |
Principal District Judge |
18-06-2014 |
05-07-2014 |
ISSUES |
|||
|
100197/2011 |
Principal District Judge |
05-07-2014 |
25-09-2014 |
ISSUES |
|||
|
100197/2011 |
Principal District Judge |
25-09-2014 |
07-11-2014 |
ISSUES |
|||
|
|
|||||||
|
Regn. No. |
Appellate Case No. |
Appellate Authority |
Date of Receipt |
||||
|
Case Transfer Details Between The Courts |
|||
|
Regn. No. |
Transfer Date |
From Court No |
To Court No |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL
PERFORMANCE (AS ON 31.03.2017)
The Company
achieved total revenue of INR 5,562.910 million for the financial year 2016-17,
against last year's INR 5,299.780 million an increase of 5%. The company also
earned a net profit of INR 526.980 million for the financial year 2016-17,
against last year's INR 363.790 million an increase of 45%.This is a result of
improved sales, improved inventory turns, reduction in debtors and overall
improvement in operating efficiency.
SCHEME OF
ARRANGEMENT AND AMALGAMATION (AS ON 31.03.2017)
The Board of
Directors of the Company in its meeting held on 20th October, 2016 approved the
Scheme of Arrangement and Amalgamation between Kirloskar RoadRailer Limited (the
“Transferor Company I”), Pneumatic Holdings Limited (the “Transferor Company
II”), Kirloskar Pneumatic Company Limited (the “Transferee Company”) and their respective shareholders (the
''Scheme'').
The Company had
filed an application with the Hon'ble National Company Law Tribunal – Mumbai
Bench (the “NCLT”) on 4th January, 2017. NCLT directed the Company to hold a
meeting of the Shareholders to approve the Scheme by its Order dated 18th
January, 2017.
The Shareholders of
the Company in their meeting held on 7th March, 2017 had approved the Scheme
under Sections 230 to 232 of the Companies Act, 2013 and the rules issued
thereunder and relevant sections of the Companies Act, 1956 to the extent
applicable.
The Scheme was sanctioned
by NCLT on 19th April, 2017. The Transferor Companies and the Transferee
Company have filed the certified true copy of the NCLT Order dated 19th April,
2017 with the Registrar of Companies on 28th April, 2017. Consequent upon the
Scheme became effective from 28th April, 2017 with effect from 1st April, 2016,
being the Appointed Date of the Scheme.
Upon the Scheme
becoming effective, the investment of the Company held in Transferor Company I
shall get cancelled. Accordingly, Kirloskar RoadRailer Limited stands dissolved
without winding-up on the effective date and therefore it ceases to be Wholly
Owned Subsidiary of the Company.
Upon the Scheme
becoming effective, 70,07,551 equity shares held by Pneumatic Holdings Limited
in the Company shall get cancelled on account of cross holdings and same number
of equity shares will be allotted to the shareholders of Pneumatic Holdings
Limited on the record date. There will be no change in total paid-up share
capital of the Company pre and post Amalgamation after the allotment of said
70,07,551 equity shares.
Accordingly,
Pneumatic Holdings Limited stands dissolved without winding-up on the effective
date and therefore ceases to be Holding Company of the Company.
The Company has
given effect to the Scheme in the Accounts and accordingly the Assets and the
Liabilities of Kirloskar RoadRailer Limited and Pneumatic Holdings Limited are
transferred to and vested in the Company with effect from 1st April, 2016,
being the Appointed Date of the Scheme.
Income accruing
and expenses incurred by Kirloskar RoadRailer Limited and Pneumatic Holdings
Limited, during the period from 1st April, 2016 to 31st March, 2017, have been
incorporated in the Financial Statements after eliminatinginter-company
transactions. The effects of these transactions are reflected in the Financial
Statements.
AWARDS (AS ON 31.03.2017)
During the year,
the Company has been appreciated for ENCON efforts by:
Best ENCON project
– Induction furnace utilization at Foundry.
3rd prize to
Saswad Plant in energy efficient unit – small plant category.
·
3rd
prize to Hadapsar Plant in energy efficient unit – large plant category.
During the year,
the Company has also received:
·
Gold
Award Trophy in Quality Improvement Success Stories Competition organized by
Quality Circle Forum India.
·
Awards in the 30 National Convention on
Quality Concepts – NCQC 2016 organised by QCFI.
·
4
Nos. “Par Excellence Award Trophy”.
·
3
Nos. “Excellence Award Trophy”.
Awards in the 31 National
Convention on Quality Concepts – CCQC 2016 organised by QCFI:
·
Best
of Best- Bajaj Rolling Trophy” for Kaizen Presentation.
·
6
Nos. “Gold Trophy” in various categories of Kaizen Presentations.
·
1
No. “Gold Trophy” to Quality Circle team.
Further the
Company is proud of the following awards:
Mr Sadashib
Padhee, Vice President – HR was awarded as the 'Most Influential HR Leader' in
India by World HRD Congress.
Mr Arun
Adivarekar, General Manager – Quality Assurance was also awarded as the '50
Most Impactful Quality Professionals' in India by World Quality Congress.
MANAGEMENT
DISCUSSION AND ANALYSIS(AS ON 31.03.2017)
Overview :
Kirloskar
Pneumatic Company Limited (“KPCL”) is a diversified product company serving key
sectors viz. Industrial, Oil and Gas, Infrastructure and Food Processing
markets. KPCL's business is dependent, to a large extent, upon the Government
policies and investments. With wide variety of products and solutions, the
Company has two business segments – Compression Products / Systems and
Transmission Products.
Indian Economy:
India has emerged
as the fastest growing major economy in the world as per the International
Monetary Fund (IMF). The Government of India expects the Indian economy to grow
by 7.1 per cent in FY 2016-17.
Three major
highlights of the sectoral growth outcome of FY 2016-17 were:
a. Moderation in
industrial and service sectors;
b. The Modest
pick-up in agricultural growth on the back of improved monsoon; and
c. strong growth
in government spending including defense services.
The Index of
Industrial Production (IIP) rose very marginally by 0.4% in 2016-17. However,
cumulative growth of eight Core industries which comprise nearly 38 % of IIP
grew by 4.5%. The negative growth of 15.5% in exports in FY'16 was reversed
with a 0.7% in exports in FY'17
Economic
prospects:
While public
investment was the major driver of growth in FY'17, a revival of private
investment and rural consumption is critical if growth is to remain strong in
FY'18 and FY'19. Growth is projected between the ranges of 6.75% to 7.5% in
FY'18. Growth is expected to pick up a bit to 7.8% in FY'19. Private
investment, financing of stalled projects and continued government's push for
Make in India is expected to contribute to this growth.
Amalgamation of
Kirloskar RoadRailer Limited and Pneumatic Holdings Limited with the Company.
Pursuant to the
Scheme of Arrangement and Amalgamation of the Kirloskar RoadRailer Limited
(KRL), Pneumatic Holdings Limited (PHL), the Company (Kirloskar Pneumatic Company
Limited - KPCL) and their
respective
Shareholders, sanctioned by the Honourable National Company Law Tribuna, Mumbai
Bench on 19th April 2017, the Assets and the Liabilities of KRL and PHL are
transferred to and vested in the Company with effect from 1st April, 2016,
being the Appointed Date of the Scheme. The Scheme has accordingly been given
effect to in these Accounts.
(a) Names and
general nature of business of the Amalgamating Companies:
Kirloskar
RoadRailer Limited, (CIN: U35990PN2008PLC132445), a Wholly Owned subsidiary of
KPCL, incorporated under the Companies Act,1956 having its registered office at
Hadapsar Industrial Estate, Pune 411013,
is in the process of setting up business of carrying on multimodal transport
business using
RoadRailer technology
of the Company.
Pneumatic Holdings
Limited, (CIN: L65993PN2014PLC152566), a Holding Company of KPCL, incorporated
under the Companies Act, 2013 having its registered office at Survey No 13, 156
Kothrud, Pune 411038. The main operations of the Company are that of Investment
and leasing. The source of revenue of PHL therefore, is in the form of
dividends and lease rentals. The shares of PHL are listed on
BSE Limited and National Stock Exchange of India Limited.
( b ) Sailent features
of the scheme :
Appointed date of
Amalgamation of the scheme is 1st April, 2016.
Effective date of
the Scheme is 28th April, 2017 being the date on which certified copy of the
order of Honourable National Company Law Tribunal is filed with the Registrar
of Companies by KRL, PHL and the
Company. This date
shall be a date of the Scheme becoming effective.
The entire Share
Capital of KRL is held by KPCL, and hence pursuant to the Amalgamation, no
shares of
KPCL shall be
allotted in respect of its holding in KRL. Upon the Scheme becoming effective,
the entire
Share Capital of
KRL shall be cancelled.
Upon the Scheme
becoming effective, the Equity Shares held by PHL in the Company shall stand
cancelled as an integral part of the Scheme.
Upon the Scheme
becoming effective, in respect of the amalgamation of PHL, the Company shall
without any further application or deed, issue and allot shares, credited as
fully paid-up, to the extent indicated below, to the shareholders of PHL, whose
names appear in the Register of Members of PHL, on the Record Date to be fixed
by the Board of Directors of the Company in the following proportion:
53 (Fifty Three)
Equity Shares of INR 10 each fully paid
up of KPCL for every 40 (Forty) Equity Shares of
INR 10 each fully paid-up of PHL.
No fractional
certificates shall be issued by the Company in respect of fractional
entitlements, if any, to which the Equity Shareholders of PHL may be entitled.
Instead the Board of Directors of the Company shall consolidate such fractions
and issue consolidated Equity Shares to separate Trustees nominated by the
Company in that behalf, who shall sell such shares in the market at such price
and at such time, as the Trustees may deem fit, and distribute the net sale
proceeds (after deduction of the expenses incurred) to shareholders of PHL, in
proportion to their respective fractional entitlements.
The Scheme, upon
becoming effective and w.e.f. the Appointed Date provides for the transfer to
KPCL
from KRL and PHL
of the following :
Entire
Undertaking(s).
All assets and
properties.
Contracts, deeds,
bonds, agreements, arrangements, assurances and other instruments of whatsoever
nature.
All debts,
liabilities, duties, obligations and encumbrances.
All legal proceedings
whether by or against.
The Authorised Capital.
The Scheme also
provides for debiting all costs, charges and expenses of Amalgamation to
General Reserve.
( c ) Accounting
treatment :
The amalgamation
has been accounted for under the "Pooling of Interests" method as per
Accounting Standard (AS-14) on "Accounting for Amalgamation" issued
by the Institute of Chartered Accountants of India. Accordingly, the Accounting
treatment has been given as under:
(i) The Assets and
Liabilities as at 1st April, 2016, have been incorporated in the Accounts of
the Company at Book Value.
(ii) The
difference between the value of New Equity Shares to be issued by KPCL to the
members of PHL and the value of Share Capital of PHL before the scheme coming
into effect is debited to Capital Reserve Account.
(iii) The
difference in the book value of investments of PHL held in KPCL and the face
value of shares cancelled pursuant to Amalgamation is adjusted against Capital
Reserve to the extent available and balance against General Reserve.
(iv) Income
accruing and expenses incurred by KRL and PHL, during the period from 1st
April, 2016 to 31st March, 2017, have been incorporated in these Accounts. All
inter Company transactions and balances eliminated / extinguished. During this
period, KRL and PHL carried on their existing businesses in trust for and on
behalf of the Company.
(v) Pursuant to
the Scheme referred above, 7,007,551 Equity Shares of INR 10/- each fully paid
of KPCL held by PHL get cancelled and reduced from Share Capital of the
Company.
(vi) Pursuant to
the Scheme referred above, 7,007,551 Equity Shares of INR 10/- each fully paid
are to be allotted to the shareholders of PHL. The amount has been included in
the "Share Capital Suspense" in.
(vii) Pursuant to
the Scheme referred above, Investment of the Company in Share Capital of KRL
stands cancelled being wholly owned subsidiary.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G49270408 |
100112454 |
BMW
INDIA FINANCIAL SERVICES PRIVATE LIMITED |
30/06/2017 |
- |
- |
9300000.0 |
TOWER
C, 14TH FLOOR, BUILDING NO. 10DLF CYBER CITY, PHASE-IIGURGAONHA122002IN |
|
2 |
B35910744 |
10344629 |
THE BANK
OF INDIA CONSORTIUM |
27/03/2012 |
- |
- |
5360000000.0 |
8A
COYAJI ROADCAMPPUNEMH411001IN |
|
3 |
B94451226 |
10146935 |
BANK OF
INDIA |
06/03/2009 |
- |
30/12/2013 |
275000000.0 |
WEMBLEY
BRANCH THROUGH PUNE CORP BANKING BRANCH1162/6 SHIVAJINAGAR, UNIVERSITY
ROAD,PUNEMH411005IN |
|
4 |
B35995232 |
90086517 |
CONSORTIUM
OF BANKS - LEADER BANK OF INDIA |
08/09/2003 |
19/03/2011 |
27/03/2012 |
4260000000.0 |
8A, DR
COYAJI ROADCAMPPUNEMH411001IN |
|
5 |
B10275626 |
90083026 |
ICIC
BANK LIMITED |
30/03/2005 |
16/06/2005 |
31/03/2011 |
260000000.0 |
BANK
TOWERSBANDRA KURLA COMPLEXMUMBAIMH400051IN |
|
6 |
A55722078 |
80050805 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
29/02/2000 |
- |
04/02/2009 |
50000000.0 |
IDBI
TOWER, COLABA,MUMBAIMH400005IN |
|
7 |
Y10171301 |
90086280 |
EXPORT
IMPORT BANK OF INDIA |
15/01/2003 |
- |
24/04/2003 |
48000000.0 |
CENTRE
ONE WORLD TRADE CENTRECUFFE PARADEMUMBAIMH400005IN |
CONTINGENT
LIABILITIES
(INR of Million)
|
Particulars |
31.03.2018 |
31.03.2017 |
|
|
|
|
|
Claims against the Company not acknowledged as Debts, estimated at |
NA |
151.543 |
|
Disputed Central Excise Matters |
NA |
3.124 |
|
Disputed Customs Matters |
NA |
1.454 |
|
Disputed Sales Tax Demands |
NA |
221.590 |
|
Guarantees given by Company to Customers for the contracts undertaken in usual course of business |
NA |
5.370 |
|
Claim for US $ 10 million has been filed against the Company in the International Court of Arbitration. The Arbitration proceedings have been stayed by the Honorable High Court of Delhi. The Special Leave Petition filed by the plaintiff against the Order of High Court has been dismissed by the Honorable Supreme Court. Further the Honorable High Court of Delhi has transferred the matter to District Courts, Tis Hazari, Delhi on the grounds of pecuniary jurisdiction. Company has obtained an opinion from Senior Counsel stating that claim made by the plaintiff is not tenable and therefore management does not anticipate any financial impact on this account. |
||
FIXED ASSETS:
- Free Hold Land
- Buildings
- Plant And Machinery
- Electrical Installation
- Office Equipment’s
- Furniture And Fixture
- Vehicle
- Lease Asset Vehicle
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 66.61 |
|
|
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.