|
|
|
MIRA INFORM REPORT
|
Report No. : |
508356 |
|
Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
L&T- MHPS BOILERS PRIVATE LIMITED (w.e.f. 13.06.2014) |
|
|
|
|
Formerly Known As
: |
L&T
- MHI BOILERS PRIVATE LIMITED (w.e.f. 18.04.2007) L&T
BOILERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
L&T House, Ballard Estate, P. O. Box: 278, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-67525656/ 67525858 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
09.10.2006 |
|
|
|
|
Com. Reg. No.: |
11-165102 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 2341.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119MH2006PTC165102 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable [As informed by the management that firm does
not have export and import] |
|
|
|
|
TIN No.: |
27100791801V |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCL2635C1ZX |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL2635C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Design, Engineering, Manufacturing, Selling, Maintenance and Servicing of Supercritical Boilers, Pulverisers and Related Products [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
L&T-MHPS Boilers Private Limited incorporated in October 2006 as a 51:49 JV between L&T and Mitsubishi Hitachi Power System Limited, Japan to design, manufacturer, supply, erect and commission supercritical boilers and pulverizes. The company is based in Mumbai, Maharashtra. It is an established company having excellent track record.
|
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 |
CRISIL |
|
Rating |
Long Term Rating (AA) |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
26.09.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 14.05.2018.
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 co-operative [tel. no.: 91-261-67525656/ 67525858]
[91-261-2808500] continuously ringing
[91-129-4291000] Not responding
LOCATIONS
|
Registered Office : |
L&T House, Ballard Estate, P. O. Box: 278, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-67525656/ 67525858 |
|
Fax No.: |
91-22-67525858 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head / Marketing / Engineering Office : |
12/4, Delhi Mathura Road, Near Sarai Khwaja Chowk, Faridabad – 121003,
Haryana, India |
|
Tel. No.: |
91-129-4291000 |
|
Fax No.: |
91-129-4291222 |
|
|
|
|
Manufacturing
Facility: |
Surat Hazira Road, P.O. Bhatha, Surat- 394510, Gujarat, India |
|
Tel. No.: |
91-261-2808500 |
|
Fax No.: |
91-261-2808641 |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Shekhar Kumar Sharda |
|
Designation : |
Director |
|
Address : |
House No. 376, Sector 31, Faridabad – 121003, Haryana, India |
|
Date of Birth/Age : |
26.06.1959 |
|
Date of Appointment : |
22.07.2016 |
|
DIN No.: |
00348214 |
|
|
|
|
Name : |
Mrs. Vijaya Sampath |
|
Designation : |
Director |
|
Address : |
Flat No - 403, Block -14, Heritage City, Mehrauli Gurgaon Road, Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
26.05.1953 |
|
Qualification : |
B.A, LLB and FCS |
|
Date of Appointment : |
21.01.2015 |
|
DIN No.: |
00641110 |
|
|
|
|
Name : |
Mr. Shekar Viswanathan |
|
Designation : |
Director |
|
Address : |
Shrothrabhiram, 110, 6th Cross, 2nd Main, RMV II Stage, (SFHS), Bangalore-560094, Karnataka, India |
|
Date of Birth/Age : |
16.11.1956 |
|
Qualification : |
BA Economics graduate & Chartered Accountant |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
01202587 |
|
|
|
|
Name : |
Masayuki Kubo |
|
Designation : |
Director |
|
Address : |
Apartment No. 1402, 14th Floor, Fairmont Towers, 16 Banaswadi Road, Cooke Town Bangalore – 560005, Karnataka, India |
|
Date of Birth/Age : |
15.08.1952 |
|
Qualification : |
Bachelor of Economics |
|
Date of Appointment : |
28.05.2007 |
|
DIN No.: |
01585730 |
|
|
|
|
Name : |
Yozaburo Mabuchi |
|
Designation : |
Director |
|
Address : |
2-33-13, Shiroyamadai, Nagasaki-Shi Nagasaki-Ken Nagasaki 00000 Japan |
|
Date of Birth/Age : |
04.10.1951 |
|
Qualification : |
Bachelor of Mechanical Engineering |
|
Date of Appointment : |
28.05.2007 |
|
Voter ID No.: |
01585780 |
|
|
|
|
Name : |
Mr. Shailendra Roy Narain |
|
Designation : |
Director |
|
Address : |
Flat No. 603/604, Kalpana, Opposite Ramakrishna Mission Hospital, 11th Road, Khar – West, Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1952 |
|
Qualification : |
B. Tech (Civil) and MBA |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
02144836 |
|
|
|
|
Name : |
Mr. Amarjit Lamba Singh |
|
Designation : |
Wholetime Director |
|
Address : |
C2 / 2439, Sector - C, Pocket - 2, Vasant Kunj New Delhi-110070, India |
|
Date of Birth/Age : |
01.06.1952 |
|
Qualification : |
Bachelor of Mechanical engineering, Masters in Power Plant Engineering |
|
Date of Appointment : |
24.05.2012 |
|
DIN No.: |
05284078 |
|
|
|
|
Name : |
Derek Michael Shah |
|
Designation : |
Casual Vacancy Director |
|
Address : |
Flat - 2E, Shivala 25A, Ballygunge Park, Kolkata -700019, West Bengal, India |
|
Date of Birth/Age : |
18.02.1965 |
|
Date of Appointment : |
17.05.2016 |
|
DIN No.: |
06526950 |
|
|
|
|
Name : |
Yoshio Shimogori |
|
Designation : |
Director |
|
Address : |
3-57-2-807, Bunkyo-machi, Nagasaki-shi, Nagasaki 8528131 Japan |
|
Date of Appointment : |
24.05.2017 |
|
DIN No.: |
07815705 |
|
|
|
|
Name : |
Yusuke Kurogi |
|
Designation : |
Director |
|
Address : |
3-57, Bunkyo-Machi Nagasaki City, Nagasaki 8528131 Japan |
|
Date of Appointment : |
12.05.2015 |
|
Voter ID No.: |
07172890 |
KEY EXECUTIVES
|
Name : |
Mr. Anilkumar Parasmal Mehta |
|
Designation : |
Company Secretary/ Chief Finance Officer |
|
Address : |
53, Nakoda Complex, Hiran Magri, Sector 4, Udaipur-313002, Rajasthan, India |
|
Date of Birth/Age : |
07.09.1964 |
|
Qualification : |
CA and CS |
|
Date of Appointment : |
24.07.2014 |
|
PAN No: |
ABAPM8233E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Larsen and Toubro Limited |
119391000 |
51.00 |
|
Mitsubishi Hitachi Power Systems Limited |
114709000 |
49.00 |
|
|
|
|
|
Total |
234100000 |
100.00 |
AS ON: 19.06.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Body corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Design, Engineering, Manufacturing, Selling, Maintenance and Servicing of Supercritical Boilers, Pulverisers and Related Products [Registered Activity] |
||||
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Products : |
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||||
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||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
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||||
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Selling : |
Not Divulged |
||||
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||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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|
Bankers : |
· ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India · Axis Bank Limited · ICICI Bank Limited |
|||||||||||||||
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|||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Ravindra Annexe, 194, Churchgate Reclamation, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS2967E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
larsen and Toubro Limited [L99999MH1946PLC004768] |
|
|
|
|
Joint
ventures where entity is venture: |
Mitsubishi Hitachi Power Systems Limited |
|
|
|
|
Fellow subsidiaries: |
· L&T - MHPS Turbine Generators Private Limited [U31101MH2006PTC166541] · L&T-Sargent & Lundy Limited [U74210MH1995PLC088099] · L&T Howden Private Limited [U31401MH2010PTC204403] · Nabha Power Limited [U40102PB2007PLC031039] · Larsen & Toubro Infotech Limited [L72900MH1996PLC104693] · L&T Special Steels and Heavy Forgings Private Limited [U27109MH2009PTC193699] · Ewac Alloys Limited [U74999MH1962PLC012315] · Iscar India Limited [U28920MH1952PLC008893] · L&T Valves Limited [U74999MH1961PLC012188] · L&T Shipbuilding · L&T Technology Services Limited [L72900MH2012PLC232169] · L&T Hydrocarbon Engineering Limited [U11200MH2009PLC191426] · Mitsubishi Hitachi Power Systems India Private Limited [U29292DL2011FTC225628] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
235000000 |
Equity Shares |
INR 10/- each |
INR 2350.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
234100000 |
Equity Shares |
INR 10/- each |
INR 2341.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2341.000 |
2341.000 |
2341.000 |
|
(b) Reserves & Surplus |
6957.800 |
4970.500 |
2659.718 |
|
(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) |
9298.800 |
7311.500 |
5000.718 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1185.100 |
2420.900 |
4270.212 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
172.600 |
415.863 |
|
(c)
Other long term liabilities |
23.500 |
167.600 |
14.794 |
|
(d)
long-term provisions |
0.000 |
0.000 |
5.630 |
|
Total
Non-current Liabilities (3) |
1208.600 |
2761.100 |
4706.499 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
629.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
6393.600 |
5675.600 |
4248.814 |
|
(c)
Other current liabilities |
20286.800 |
17888.500 |
14607.553 |
|
(d)
Short-term provisions |
409.400 |
332.600 |
885.671 |
|
Total
Current Liabilities (4) |
27718.800 |
23896.700 |
19742.038 |
|
|
|
|
|
|
TOTAL |
38226.200 |
33969.300 |
29449.255 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5143.100 |
4398.400 |
4326.867 |
|
(ii)
Intangible Assets |
12.300 |
30.300 |
109.727 |
|
(iii)
Capital work-in-progress |
19.600 |
10.400 |
45.055 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
78.300 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
167.300 |
20.209 |
|
(e)
Other Non-current assets |
96.900 |
124.000 |
0.000 |
|
Total
Non-Current Assets |
5350.200 |
4730.400 |
4501.858 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
6873.700 |
4789.900 |
5844.818 |
|
(b)
Inventories |
2638.600 |
2596.800 |
934.318 |
|
(c)
Trade receivables |
10299.100 |
9823.700 |
10912.062 |
|
(d)
Cash and cash equivalents |
2965.600 |
3718.200 |
4319.303 |
|
(e)
Short-term loans and advances |
686.700 |
624.300 |
1843.979 |
|
(f)
Other current assets |
9412.300 |
7686.000 |
1092.917 |
|
Total
Current Assets |
32876.000 |
29238.900 |
24947.397 |
|
|
|
|
|
|
TOTAL |
38226.200 |
33969.300 |
29449.255 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
24906.600 |
17213.900 |
12301.109 |
|
|
|
Other Income |
757.200 |
908.800 |
309.071 |
|
|
|
TOTAL |
25663.800 |
18122.700 |
12610.180 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
15120.700 |
9360.200 |
4374.258 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(187.800) |
0.000 |
0.000 |
|
|
|
Employees benefits expense |
1406.800 |
1231.900 |
1099.175 |
|
|
|
CSR expenditure |
0.000 |
0.000 |
0.703 |
|
|
|
Other expenses |
5157.500 |
3799.800 |
4391.259 |
|
|
|
TOTAL |
21497.200 |
14391.900 |
9865.395 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4166.600 |
3730.800 |
2744.785 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
287.100 |
462.400 |
493.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3879.500 |
3268.400 |
2250.855 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
558.200 |
532.100 |
437.169 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3321.300 |
2736.300 |
1813.686 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1108.500 |
746.200 |
590.584 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2212.800 |
1990.100 |
1223.102 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB value of manufactured goods exported |
|
5164.686 |
2693.179 |
|
|
|
Earnings on other income |
|
85.468 |
209.974 |
|
|
TOTAL EARNINGS |
NA |
5250.154 |
2903.153 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3868.741 |
1241.679 |
|
|
|
Components and Stores parts |
|
273.299 |
20.306 |
|
|
|
Capital Goods |
|
15.963 |
84.641 |
|
|
TOTAL IMPORTS |
NA |
4158.003 |
1346.626 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
9.45 |
11.00 |
5.22 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1185.300 |
2178.300 |
851.462 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
5470.400 |
(340.400) |
6308.581 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
4300.500 |
(1441.000) |
5977.081 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
150.93 |
208.30 |
323.78 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.42 |
1.75 |
1.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
154.34 |
221.32 |
354.53 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.58 |
1.44 |
2.94 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.81 |
0.84 |
0.61 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.79 |
0.84 |
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.32 |
0.63 |
1.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.98 |
3.27 |
3.95 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.56 |
0.61 |
0.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
14.51 |
8.07 |
5.56 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.88 |
11.56 |
9.94 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.79 |
5.86 |
4.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
23.80 |
27.22 |
24.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.19 |
1.22 |
1.26 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.09 |
1.11 |
1.22 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.22 |
0.17 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.28 |
1.96 |
2.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.19 |
1.22 |
1.26 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
2341.000 |
2341.000 |
2341.000 |
|
Reserves & Surplus |
2659.718 |
4970.500 |
6957.800 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5000.718 |
7311.500 |
9298.800 |
|
|
|
|
|
|
long-term borrowings |
4270.212 |
2420.900 |
1185.100 |
|
Short term borrowings |
0.000 |
0.000 |
629.000 |
|
Current Maturities of Long
term debt |
851.462 |
2178.300 |
1185.300 |
|
Total
borrowings |
5121.674 |
4599.200 |
2999.400 |
|
Debt/Equity
ratio |
1.024 |
0.629 |
0.323 |
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 |
12301.109 |
17213.900 |
24906.600 |
|
|
|
39.938 |
44.689 |
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 |
12301.109 |
17213.900 |
24906.600 |
|
Profit |
1223.102 |
1990.100 |
2212.800 |
|
|
9.94% |
11.56% |
8.88% |
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 |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G06451710 |
100035430 |
AXIS BANK LTD. |
17/06/2016 |
- |
- |
4000000000.0 |
2ND FLOOR, RED FORT
CAPITAL, PARSVNATH TOWERS,GOLE MARKET, BHAI VEER SINGH MARG,NEW
DELHIDL110001IN |
|
2 |
C00843094 |
10485899 |
HDFC BANK LIMITED |
27/02/2014 |
- |
- |
1500000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
B85306363 |
10449838 |
THE BANK OF TOKYO
MITSUBISHI UFJ LTD |
09/09/2013 |
- |
- |
3543500000.0 |
MUMBAI BRANCH
HOECHST HOUSE, 15TH & 16TH FLOOR193,VINAY K SHAH MARG, NARIMAN
POINTMUMBAIMH400021IN |
|
4 |
G81152514 |
10293039 |
CANARA BANK |
01/06/2011 |
07/03/2018 |
- |
2500000000.0 |
MID CORPORATE
BRANCH1ST FLOOR, OPP. TO EXPRESS HOTEL, ALKAPURIVADODARAGJ390007IN |
|
5 |
G39683305 |
10244456 |
KOTAK MAHINDRA BANK
LIMITED |
21/09/2010 |
22/03/2017 |
- |
7000000000.0 |
27BKC, C 27, G BLOCKBANDRA
KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
6 |
G86836137 |
10230836 |
ICICI BANK LIMITED |
25/05/2010 |
12/04/2018 |
- |
9000000000.0 |
ICICI BANK TOWER,
NEAR CHAKLI CIRCLE,OLD PADRA ROADVADODARAGU390007IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Foreign currency term loans from banks |
1185.100 |
2420.900 |
|
|
|
|
|
Total |
1185.100 |
2420.900 |
CORPORATE INFORMATION
The ‘Company is a private limited Company incorporated & domiciled in India. The Company is a Joint Venture Company between Larsen & Toubro Limited (L&T), India and Mitsubishi Hitachi Power Systems (MHPS), Japan having it’s registered office at L&T House, Ballard Estate, Mumbai. The Company is engaged in the business of design, engineering, manufacturing, selling, maintenance and servicing of Supercritical Boilers, Pulverisers and related products.
CAPITAL &
FINANCE:
During the year under review, the Company has not allotted any equity shares. The Total Equity Share Capital as on 31st March, 2017, is INR 2341.000 million.
STATE OF COMPANY AFFAIRS:
The sales and other income for the financial year under review were INR 25663.800 million as against INR 18122.600 million for the previous financial year registering a growth of 42%. The profit before tax for the year under review was higher at INR. 3321.300 million and the profit after tax was INR 2212.800 million for the financial year under review as against INR 2736.000 million and INR 1990.100 million respectively for the previous financial year, registering an increase of 21% and 11% respectively mainly due to higher execution. The previous year’s numbers have been restated as per new accounting standards, Ind-AS.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Sales tax liability [Central Sales Tax Act and Local Sales Tax Act Gujarat |
7.200 |
1.500 |
|
Disallowance of cenvat credit [Service tax under Finance Act, 1994] |
0.200 |
0.100 |
|
Sales tax liability [Central Sales Tax Act and Local Sales Tax Act, Madhya Pardesh] |
6.700 |
0.000 |
|
Sales tax liability [Central Sales Tax Act and LocalSales Tax Act, Maharashtra] |
0.000 |
72.300 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 67.22 |
|
UK Pound |
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.