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MIRA INFORM REPORT
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Report No. : |
508615 |
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Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ORICON ENTERPRISES LIMITED (March, 1970) |
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Formerly Known
As : |
ORICON ENTERPRISES PRIVATE LIMITED |
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Registered
Office : |
1076, Dr. E Moses Road, Parijat House, Worli, Mumbai - 400018,
Maharashtra |
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Tel. No.: |
91-22-24964656-60 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
07.12.1968 |
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Com. Reg. No.: |
11-014156 |
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Capital
Investment / Paid-up Capital : |
INR 314.149 Million |
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CIN No.: [Company Identification
No.] |
L28100MH1968PLC014156 |
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IEC No.: [Import-Export Code 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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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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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
: |
Subject is engaged in business of manufacturing of Pentanes, Liquid Colorants, and Pet Bottles. (Registered Activity) |
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No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1968 and it
is having good track records. For the financial year 2017, the company has registered decrease in
its revenue from operations as compared to previous year but maintained
decent profitability margin of 12.70%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from its established track
record of business operations along with market position. However, rating strength is partially offset by declined in the
revenue as well as profitability during the year and intense competition from
industry. Trade relations are reported as fair. Business is active. Payment
terms are seems to be usually correct. In view of the aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long term rating = A- |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
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Date |
12.03.2018 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term rating = A2+ |
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Rating Explanation |
Strong degree of safety and low credit risk. |
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Date |
12.03.2018 |
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 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 DENIED
MANAGEMENT NON-COOPERATIVE (TEL. NO.: 91-22-24964660)
91-22-24964656 (RINGING)
LOCATIONS
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Registered Office : |
1076, Dr. E Moses Road, Parijat House, Worli, Mumbai-400018,
Maharashtra, India |
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Tel. No.: |
91-22-24964656-60 |
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Fax No.: |
91-22-24963055 |
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E-Mail : |
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Website : |
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Factory 1 : |
Village Savroli, Khopoli,
Raigad - 410203, Maharashtra, India. |
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Factory 2 : |
A - 2/G MIDC, Murbad, Thane, Maharashtra,
India. |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ganga Ram Nilacanta Iyer |
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Designation : |
Director |
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Address : |
703, Golden Castle, Sundarnagar, Kalina, Mumbai – 400098, Maharashtra,
India |
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Date of Appointment : |
16.03.2015 |
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DIN No.: |
00001246 |
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Name : |
Mr. Sevantilal Jivanlal Parekh |
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Designation : |
Director |
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Address : |
Bhartiya Bhavan, 5th Floor, 72, Marine Drive, Mumbai – 400020,
Maharashtra, India |
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Qualification : |
B.Com |
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Experience : |
Expertise and rich experience in finance and technical,
operational and marketing aspects of Shipping Industry. |
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Date of Appointment : |
13.08.1985 |
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DIN No.: |
00010767 |
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Name : |
Mrs. Sujata Parekh Kumar |
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Designation : |
Director |
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Address : |
17, Bharatiya Bhavan, 72, Marine Drive, Mumbai – 400020, Maharashtra,
India |
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Date of Appointment : |
16.03.2015 |
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DIN No.: |
00016335 |
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Name : |
Mr. Sanjay Praveenchand Dosi |
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Designation : |
Director |
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Address : |
502, Manavsthal Gokuldham, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
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Date of Appointment : |
30.04.2002 |
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DIN No.: |
00039107 |
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Name : |
Mr. Balkishan Udairam Toshniwal |
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Designation : |
Whole-time Director |
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Address : |
G15, Sheetal Co-Op HSG Society, Seven Bungalows, Andheri (West),
Mumbai – 400053, Maharashtra, India |
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Date of Appointment : |
01.03.1997 |
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DIN No.: |
00048019 |
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Name : |
Mr. Vinod Mimani |
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Designation : |
Director |
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Address : |
6, Burdwan Road, Kolkata – 700027, West Bengal, India |
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Date of Appointment : |
26.08.1997 |
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DIN No.: |
00053976 |
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Name : |
Mr. Vishnunarain Deviprasad Khanna |
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Designation : |
Whole-time Director |
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Address : |
601, Ramkrishna Sadan, 6th Floor, Pochhkhanwala Road, Worli, Mumbai –
400025, Maharashtra, India |
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Date of Appointment : |
25.09.1993 |
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DIN No.: |
00064502 |
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Name : |
Mr. Shivratan Jeetmal Taparia |
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Designation : |
Director |
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Address : |
71, Girikunj, 6th Road, Marine Lines, Mumbai – 400020, Maharashtra,
India |
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Date of Appointment : |
02.08.1977 |
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DIN No.: |
00112513 |
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Name : |
Mr. Adarsh Rajendra Somani |
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Designation : |
Director |
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Address : |
Shri Niketan, 5th Floor, 86-A, Netaji Subash Road, Marine Lines,
Mumbai - 400002, Maharashtra, India |
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Date of Appointment : |
23.05.2008 |
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DIN No.: |
00192609 |
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Name : |
Mr. Rajendra Somani |
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Designation : |
Managing Director |
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Address : |
5th Floor, Sriniketan N.S.Road, Marine Drive, Mumbai – 400002,
Maharashtra, India |
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Date of Birth/Age : |
68 Years |
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Qualification : |
Mechanical Engineer |
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Experience : |
47 Years |
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Date of Appointment : |
12.09.2009 |
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DIN No.: |
00332465 |
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Name : |
Mr. Surendra Somani |
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Designation : |
Director |
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Address : |
Shree Niketan, 4th Floor, 86-A, Netaji Subhash Road, Mumbai – 400002,
Maharashtra, India |
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Date of Appointment : |
22.11.1976 |
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DIN No.: |
00600860 |
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Name : |
Mr. Susheel Gajadhar Somani |
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Designation : |
Director |
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Address : |
404, Olympus, Altamount Road, Gamdevi Mumbai - 400026, Maharashtra,
India |
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Date of Appointment : |
22.12.1969 |
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DIN No.: |
00601727 |
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Name : |
Mr. Krishnagopal Badriprasad Gupta |
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Designation : |
Director |
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Address : |
A 11, Anugrah Manohar Garden, Jai Bhavani Road, Nashik – 422101,
Maharashtra, India |
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Date of Appointment : |
14.11.2014 |
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DIN No.: |
00997067 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Jain |
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Designation : |
Company Secretary |
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Address : |
G15, Sheetal Co-Op HSG Society, Seven Bungalows, Andheri (West),
Mumbai – 400053, Maharashtra, India |
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Date of Appointment : |
01.03.1997 |
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PAN No.: |
AAIPJ2491G |
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Name : |
Mr. Pramod Vasudev Sarda |
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Designation : |
Chief Executive Officer |
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Address : |
C-506, Unique Heights, Poonam Garden, Mira-Bhayander Road, Mira Road
(East), Thane – 401107, Maharashtra, India |
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Date of Appointment : |
14.11.2014 |
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PAN No.: |
AGLPS5530Q |
MAJOR SHAREHOLDERS / 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 |
|
|
Promoter and Promoter Group |
102149709 |
65.04 |
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Public |
54898006 |
34.96 |
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Grand Total |
157047715 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER
GROUP
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
|
|
|
A1) Indian |
0.00 |
||
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Individuals/Hindu undivided Family |
91326569 |
58.15 |
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RAJENDRA SOMANI (belong to Oriental Enterprises A/c - Partnership Firm) |
7703190 |
4.90 |
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B K Toshniwal |
126000 |
0.08 |
|
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RAJENDRA SOMANI (belong to Hazarimal Somani A/c - Partnership Firm) |
21552620 |
13.72 |
|
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Rajendra Somani |
626620 |
0.40 |
|
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Vishnunrain Khanna |
137663 |
0.09 |
|
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Susheel Somani |
896405 |
0.57 |
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Balkishan U Toshniwal |
13000 |
0.01 |
|
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Varun Surendra Somani |
817380 |
0.52 |
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Sujata Parekh |
5578480 |
3.55 |
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Sevantilal Jivanlal Parekh |
1152385 |
0.73 |
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Hridai Susheel Somani |
2400965 |
1.53 |
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Adarsh Rajendra Somani |
1634380 |
1.04 |
|
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Surendra Somani (HUF) |
6300 |
0.00 |
|
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SUSHEEL SOMANI (belong to SKS & Co. - partnership firm) |
15606097 |
9.94 |
|
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Rajendra Somani (HUF) |
359080 |
0.23 |
|
|
Mridula Somani |
4177325 |
2.66 |
|
|
Surendra Somani |
3044480 |
1.94 |
|
|
Premnarain Khanna |
737 |
0.00 |
|
|
Jaya Somani |
1828215 |
1.16 |
|
|
Sanjay Dosi |
100 |
0.00 |
|
|
Adarsh Somani |
4207952 |
2.68 |
|
|
Suhrid Somani |
3026545 |
1.93 |
|
|
Vandana Somani |
4035125 |
2.57 |
|
|
Nupur Somani |
2998900 |
1.91 |
|
|
Somani Kumkum |
2190070 |
1.39 |
|
|
Arundhari Sunil Parekh |
100220 |
0.06 |
|
|
Anandita Sunil Parekh |
100220 |
0.06 |
|
|
Namrata Somani |
2655820 |
1.69 |
|
|
Varun Somani |
4350295 |
2.77 |
|
|
Any Other (specify) |
10823140 |
6.89 |
|
|
Himalaya Builders Private Limited |
3100390 |
1.97 |
|
|
Parijat Shipping and Finale Limited |
169400 |
0.11 |
|
|
Kopran Lifestyle Limited |
1322300 |
0.84 |
|
|
Sarvamangal Mercantile Company Limited |
3610500 |
2.30 |
|
|
Skyland Securities Private Limited |
2239900 |
1.43 |
|
|
Venkatesh Karriers Limited |
79400 |
0.05 |
|
|
Parekh Integrated Services Private Limited |
1250 |
0.00 |
|
|
Adarsh Somani (Belong to Shree Laxmi Benficiary Trust ) |
300000 |
0.19 |
|
|
Sub Total A1 |
102149709 |
65.04 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
102149709 |
65.04 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of
shares |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Foreign Portfolio Investors |
8968525 |
5.71 |
|
|
NAF INDIA HOLDINGS LTD |
8968525 |
5.71 |
|
|
Financial Institutions/ Banks |
2722264 |
1.73 |
|
|
GENERAL INSURANCE CORPORATION OF INDIA |
2000000 |
1.27 |
|
|
Any Other (specify) |
10000 |
0.01 |
|
|
Sub Total B1 |
11700789 |
7.45 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
Central Government/ State Government(s)/ President of India |
210965 |
0.13 |
|
|
Sub Total B2 |
210965 |
0.13 |
|
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B3) Non-Institutions |
0 |
0.00 |
|
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Individual share capital upto INR 0.200 Million |
23164827 |
14.75 |
|
|
Individual share capital in excess of INR 0.200 Million |
8779681 |
5.59 |
|
|
NBFCs registered with RBI |
68690 |
0.04 |
|
|
Any Other (specify) |
10973054 |
6.99 |
|
|
Bodies Corporate |
8228147 |
5.24 |
|
|
Shree Venkatesh Metal Packs Pvt Ltd |
4172790 |
2.66 |
|
|
Clearing Members |
2027934 |
1.29 |
|
|
Non-Resident Indian (NRI) |
716973 |
0.46 |
|
|
Sub Total B3 |
42986252 |
27.37 |
|
|
B=B1+B2+B3 |
54898006 |
34.96 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in business of manufacturing of Pentanes, Liquid Colorants, and Pet Bottles. (Registered Activity) |
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Products : |
· Pentanes · Liquid Colorants ·
Pet Bottles |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
65 (Approximately) |
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Bankers : |
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Facilities : |
Note : Long-term
Borrowings a. Indian Rupee Loan from banks (Unsecured) includes Term Loan amounting to NIL (Previous year INR 61.542 Million) taken from Bank and carried interest @ Base Rate + 2.65% + TP (applicable rate of interest was 12.75%). The Loan was repayable in 82 monthly installments (including interest) starting from September 2011 to June 2018. Further the said loan was guaranteed by the personal guarantee of three directors of the Company. During the year ended March 31 2017 the said loan was fully repaid by the Company. b. Indian Rupee Loan from banks (Unsecured) includes Term Loan amounting to INR 12.199 Million taken from Bank and carries interest @ Base Rate + 3.15% (current applicable rate of interest is 12.40%). The Loan is repayable in 120 monthly installments of INR 1.153 Million each (including interest) starting from September 2012 fully repayable by December 2017 and INR 284059 Million each (including interest) starting from October 2012 fully repayable by December 2017. c. Indian Rupee Loan from banks (Unsecured) includes Term Loan amounting to NIL (Previous year INR 28186808 Million) taken from Bank and carried interest @ Base Rate + 2.50% (applicable rate of interest is 12%). The Loan was repayable in 60 equated monthly installments of INR 764930 Million each (including interest) starting from March 2015 fully repayable by February 2020. Further the loan was secured against extension of mortgage over 1st Floor Parijat House Apte Industrial Estate Dr. E Moses Road Worli Mumbai - 400018 owned by another Company and Corporate Guarantee of other Company. During the year ended March 31 2017 the said loan was fully repaid by the Company. d. Indian Rupee Loan from banks (Secured) includes Working Capital Term Loan amounting to NIL (Previous Year INR 100.000 Million and INR 50.000 Million) taken from Bank and carried interest @ Base Rate + 1.65% (applicable rate of interest is 12.30%). The tenor of the loan was 60 months including moratorium period of 12 months. The principal amount was repayable by way of 48 monthly installments of INR 2.083 Million each starting from April 2016 fully repayable by March 2020 and INR 1041667 Million each starting from August 2016 fully repayable by July 2020 respectively. The interest was payable monthly starting from April 2015 and July 2015 respectively. Further the loan was to be secured against exclusive charge by way of equitable mortgage of commercial office on 2nd Floor Apte Industrial Estate Parijat House 1076 off. Dr. E. Moses Road Worli Mumbai - 400018 owned by the Company pledge of Promoters shares of Oricon Enterprises Limited and personal guarantee of three directors of the Company. During the year ended March 31 2017 the said loan was fully repaid by the Company. e. Indian Rupee Loan from others (Secured) includes Term Loan amounting to NIL (Previous year INR 300.000 Million) taken from NBFC and carried interest @ Base Rate + 4.45% (applicable rate of interest is 14.45%). The tenor of the loan was 60 months including moratorium of 12 months. The principal amount was repaid by way of 16 quarterly installments of INR 18.750 Million each starting from June 2016 fully repayable by March 2020 whereas the interest was payable monthly. Further the loan was secured against mortgage of land admeasuring 3511 sq.mt along with building constructed to be constructed at Worli Mumbai owned by the Company hypothecation & Escrow of dividend income from Investments in group / related companies and personal guarantee of three directors of the Company. During the year ended March 31 2017 the said loan was fully repaid by the Company. Indian Rupee Loan from others (Secured) includes Term Loan amounting to NIL (Previous year INR9628020 Million) taken from NBFC and carried rate of interest @ 13.50%. The tenor of the loan was 39 months. The principal amount was repayable in 36 Equated Monthly Installment of INR 593868 Million each (including interest) starting from October 2014 fully repayable by September 2017 whereas the interest was payable monthly. The term loan is secured by way of exclusive charge / hypothecation on the asset funded and personal guarantee of one of the director of the Company. During the year ended March 31 2017 the said loan was fully repaid by the Company. g. Inter Corporate Deposit (Unsecured) grouped under Loans from related Party amounting to INR 589.111 Million carries interest @ 7.5% and is repayable on 31st March 2019. h. Loan from Directors grouped under Loans from related parties (Unsecured) are interest free and are repayable after 31st March 2018 on demand. i. Deferred sales tax represents the Certificate of Entitlement issued by the Joint Director of Industries Konkan Division Thane on the basis of section 89 of the Maharashtra Value Added Tax Act 2002 ("M V A T Act") read with rule 81 of the M.V.A.T. Rules 2005 in respect of the manufacturing unit located at Savroli Post- Khopoli to defer the sales tax liability as per the returns / assessment pertaining to the period from 01-July-2010 to 30-June-2012. During the year ended March 31 2017 the Company had paid an amount equal to the net present value amounting to INR 9.338 Million in lieu of the deferred sales tax liability amounting to INR 18.360 Million. The resulting gain of INR 9.025 Million on extinguishment of Deferred Sales Tax Liability has been included under Miscellaneous Income and in result of Petrochemical Segment. SHORT-TERM
BORROWINGS Cash Credit from Bank (Secured) carries interest @ One year MCLR + 0.20% p.a. (current applicable rate of interest is 9.95%). The said facility is repayable on demand. The facility is secured by first Pari-Passu charge on current assets (present and future) and the Company is in process of creating a collateral security of first Pari-Passu charge on Plant & Machinery and Land and Building at Khopoli & Murbad. |
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Auditors : |
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Name : |
Khandelwal Jain and Company Chartered Accountants |
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Address : |
12-B, Baldata Bhavan, 5th Floor, 117, M. Marve Road,
Churchgate, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-43116000 |
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Fax No.: |
91-22-43116060 |
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E-Mail : |
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Website : |
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Secretarial Auditor
: |
GMJ and Associates Practicing Company Secretaries |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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Jointly Controlled
Entity : |
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Joint Ventures of
Company's Subsidiary United Shippers Limited.: |
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Enterprises over
which Key Management Personnel and their Relatives exercise significant
influence where the Company has entered into Transactions during the period : |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
174500000 |
Equity Shares |
INR 2/- each |
INR 349.000 Million |
|
10000 |
11% Cumulative Redeemable Preference Shares |
INR 100/- each |
INR 1.000 Million |
|
|
Total |
|
INR 350.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
157110360 |
Equity Shares |
INR 2/- each |
INR 314.221 Million |
|
|
|
|
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Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
157047715 |
Equity Shares |
INR 2/- each |
INR 314.095 Million |
|
|
Share Forfeited Account* |
|
INR 0.054
Million |
|
|
Total |
|
INR 314.149 Million |
* Share Forfeited Account represents 62645 Partly paid Equity Shares of INR 2/- each forfeited by the Company during the year 2003-04
Reconciliation of the
Share outstanding at the beginning and at the end of year
|
Equity Shares |
31st March, 2017 |
|
|
No. of Shares (INR 2/- each) |
INR in Million |
|
|
At the beginning of the year |
157047715 |
314.095 |
|
Issued during the year on conversion of CCPS |
-- |
-- |
|
Outstanding at the
end of the year |
157047715 |
314.095 |
Term / Right attached
to equity share
"The Company has only one class of equity shares having a par value of INR 2/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting."
During the year ended 31st March, 2016, the Board of Directors, at its meeting held on 16th March, 2016, had declared an interim dividend of 25% (INR 0.50 per equity share of par value of INR 2 each) for the Quarter ended 31st March, 2016. Further, the Board of Directors, at its meeting held on 28th May, 2016, has decided that there will be no further dividend for the financial year ended 31st March, 2016. Accordingly, the total dividend declared and paid for the year ended 31st March, 2016 amounted to INR 78.524 excluding dividend distribution tax.
During the year ended 31st March, 2015, the aggregate amount of per share dividend recognized as distributions to equity shareholders was Re. 0.44. The total dividend appropriation for the year ended 31st March, 2015 aggregated to INR 69.101 excluding dividend distribution tax.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in the proportion to the number of equity shares held by the shareholders.
Share held by
holding/ultimate holding company and/or their subsidiary/associates
None of the shares of the Company are hold by the Subsidiaries, Associates or Joint Ventures of the Company
Aggregate number of
bonus shares issued, share issued for consideration other than cash and shares
bought back during the period of five years immediately preceding the reporting
date:
|
|
31st March, 2016 No. of Shares |
31st March, 2015 No. of Shares |
31st March, 2014 No. of Shares |
31st March, 2013 No. of Shares |
31st March, 2012 No. of Shares |
|
Equity Share issued as Fully paid-up of Face Value INR 2/- each pursuant to conversion of Compulsory Convertible Preference Share |
-- |
54500000 |
-- |
-- |
-- |
Details of
shareholders holding more than 5% shares in the Company
|
|
31st March, 2016 |
|
|
|
No. of Shares (INR 2/- each) |
% holding in the class |
|
Equity
Shares of INR 2/- each fully paid |
|
|
|
Rajendra
Somani |
29091510 |
18.41 |
|
Susheel
Somani |
16502502 |
10.70 |
|
NAF
India Holdings Limited |
10169813 |
6.48 |
As per records of Company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
Shares reserved for
issue under options
None of the shares are reserved for issue under options.
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 |
314.149 |
314.149 |
314.149 |
|
(b) Reserves & Surplus |
4595.746 |
4546.903 |
4453.168 |
|
(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) |
4909.895 |
4861.052 |
4767.317 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
742.422 |
723.240 |
800.853 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
53.130 |
51.705 |
45.692 |
|
(d) long-term provisions |
11.955 |
10.912 |
9.818 |
|
Total
Non-current Liabilities (3) |
807.507 |
785.857 |
856.363 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
39.765 |
130.023 |
130.252 |
|
(b) Trade payables |
15.291 |
35.588 |
58.241 |
|
(c) Other current liabilities |
60.459 |
213.764 |
124.149 |
|
(d) Short-term provisions |
16.783 |
10.311 |
93.884 |
|
Total
Current Liabilities (4) |
132.298 |
389.686 |
406.526 |
|
|
|
|
|
|
TOTAL |
5849.700 |
6036.595 |
6030.206 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
57.255 |
109.286 |
137.094 |
|
(ii) Intangible Assets |
0.000 |
0.005 |
0.079 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4992.917 |
5000.511 |
4988.868 |
|
(c) Deferred tax assets (net) |
8.039 |
2.730 |
0.916 |
|
(d) Long-term Loan and Advances |
450.591 |
411.194 |
347.630 |
|
(e) Other Non-current assets |
0.000 |
11.667 |
10.868 |
|
Total
Non-Current Assets |
5508.802 |
5535.393 |
5485.455 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13.888 |
17.780 |
31.551 |
|
(c) Trade receivables |
59.078 |
216.094 |
217.460 |
|
(d) Cash and cash equivalents |
58.364 |
11.532 |
14.218 |
|
(e) Short-term loans and
advances |
183.053 |
237.036 |
279.560 |
|
(f) Other current assets |
26.515 |
18.760 |
1.962 |
|
Total
Current Assets |
340.898 |
501.202 |
544.751 |
|
|
|
|
|
|
TOTAL |
5849.700 |
6036.595 |
6030.206 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
384.664 |
575.705 |
647.676 |
|
|
Other Income |
128.595 |
276.177 |
187.528 |
|
|
TOTAL
|
513.259 |
851.882 |
835.204 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
223.593 |
227.919 |
311.025 |
|
|
Purchases of Stock-in-Trade |
88.601 |
260.480 |
227.039 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.974 |
2.134 |
9.095 |
|
|
Employees benefits expense |
36.960 |
43.282 |
49.251 |
|
|
Prior Period Items |
0.275 |
0.044 |
0.082 |
|
|
Exceptional Item |
(64.594) |
(20.000) |
0.000 |
|
|
Other expenses |
79.981 |
60.909 |
84.141 |
|
|
TOTAL |
365.790 |
574.768 |
680.633 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
147.469 |
277.114 |
154.571 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
51.263 |
97.584 |
50.927 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
96.206 |
179.530 |
103.644 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
7.275 |
9.543 |
19.871 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
88.931 |
169.987 |
83.773 |
|
|
|
|
|
|
|
Less |
TAX |
27.067 |
6.821 |
17.344 |
|
|
|
|
|
|
|
Less |
Discontinuing
Operations |
|
|
|
|
|
Profit / (Loss) from discontinuing operations |
8.192 |
7.430 |
0.000 |
|
|
Gain / (Loss) on disposal of assets / settlement of liabilities attributable to discontinuing operations |
11.261 |
0.000 |
0.000 |
|
|
Tax Expense of discontinuing operations |
6.432 |
2.457 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
61.864 |
163.166 |
66.429 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4.848 |
4.249 |
7.217 |
|
|
TOTAL
EARNINGS |
4.848 |
4.249 |
7.217 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
7.821 |
0.000 |
14.032 |
|
|
Packing Material & Stores |
0.476 |
1.351 |
0.000 |
|
|
Trading |
84.650 |
260.48 |
227.039 |
|
|
TOTAL
IMPORTS |
92.947 |
261.831 |
241.071 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.39 |
1.04 |
0.49 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
171.802 |
258.482 |
45.769 |
|
Cash generated from operations |
(408.941) |
2728.383 |
486.942 |
|
Net cash flow from operating activity |
(568.290) |
2481.848 |
457.536 |
QUARTERLY RESULTS
(INR
in Million)
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
144.140 |
101.010 |
146.670 |
|
Total Expenditure |
156.490 |
116.830 |
162.340 |
|
PBIDT (Excl OI) |
(12.350) |
(15.820) |
(15.670) |
|
Other Income |
92.390 |
79.650 |
40.530 |
|
Operating Profit |
80.040 |
63.830 |
24.860 |
|
Interest |
15.320 |
13.840 |
4.420 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
64.720 |
49.990 |
20.440 |
|
Depreciation |
1.840 |
1.870 |
2.620 |
|
Profit Before Tax |
62.880 |
48.120 |
17.820 |
|
Tax |
2.820 |
0.730 |
7.360 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
60.060 |
47.390 |
10.440 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
60.060 |
47.390 |
10.440 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
56.06 |
137.00 |
122.55 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.51 |
2.66 |
2.98 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
17.88 |
26.60 |
39.51 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
10.62 |
15.59 |
4.90 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.58 |
2.54 |
1.13 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.18 |
0.23 |
0.21 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.19 |
0.23 |
0.20 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.03 |
0.08 |
0.09 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.01 |
0.02 |
0.03 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.88 |
2.84 |
3.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
12.70 |
27.48 |
10.26 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.83 |
2.62 |
1.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
0.99 |
3.25 |
1.39 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.58 |
1.29 |
1.34 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
2.47 |
1.24 |
1.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.84 |
0.81 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.04 |
3.54 |
3.11 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.58 |
1.29 |
1.34 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- each |
|
Market Value |
INR 52.00/- each |
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 |
314.149 |
314.149 |
314.149 |
|
Reserves & Surplus |
4453.168 |
4546.903 |
4595.746 |
|
Net
worth |
4767.317 |
4861.052 |
4909.895 |
|
|
|
|
|
|
Long Term borrowings |
800.853 |
723.240 |
742.422 |
|
Short Term borrowings |
130.252 |
130.023 |
39.765 |
|
Current Maturities of Long term debt |
45.769 |
258.482 |
171.802 |
|
Total
borrowings |
976.874 |
1111.745 |
953.989 |
|
Debt/Equity
ratio |
0.205 |
0.229 |
0.194 |
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
|
647.676 |
575.705 |
384.664 |
|
|
|
(11.112) |
(33.184) |
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
|
647.676 |
575.705 |
384.664 |
|
Profit |
66.429 |
158.192 |
48.842 |
|
|
10.26% |
27.48% |
12.70% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL PERFORMANCE
Standalone
Sales and Other Income for the year ended March 31, 2017 amounted to INR 513.259 Million as against INR 851.882 Million in the previous Financial Year. Net profit for the year was INR 48.842 Million as against INR 158.192 Million in the previous Financial Year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Indian rupee loan from banks (Unsecured) |
0.000 |
116.975 |
|
Loans from related
parties |
|
|
|
Loans from Directors |
153.309 |
242.809 |
|
Inter Corporate Deposit |
589.111 |
0.000 |
|
Other loans and
advances |
|
|
|
Deferred Sales Tax |
0.002 |
18.362 |
|
|
|
|
|
Total |
742.422 |
378.146 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH ENDED 31ST DECEMBER, 2017
(INR
in Million)
Note.:
1. The Standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on February 14, 2018. The results for the quarter and nine months ended December 31, 2017 have been reviewed by the Statutory Auditors of the Company. The comparative financial information for the quarter and nine months ended December 31, 2016, included in the accompanying Statement, are based on the previously issued financial information for the quarter and nine months ended December 31, 2016 prepared in accordance with the Companies (Accounting Standards) Rules, 2006, on which the predecessor auditor had issued an unmodified conclusion vide their review report dated February 14, 2017, as adjusted for the differences in the accounting principles adopted by the Company on transition to the Indian Accounting Standards ("Ind AS"), which have been reviewed by Statutory Auditors.
2. The Company adopted Indian Accounting Standards (Ind AS) for the first time
effective from April 01, 2017 with a transition date of April 01, 2016 and
accordingly, the above Unaudited Financial Results for the quarter and nine
months ended December 31, 2017 have been prepared in accordance with the
recognition and measurement principles laid down in the Ind AS prescribed under
section 133 of the Companies Act, 2013 read with Companies (Indian Accounting
Standards) Rules, 2015 and other recognised accounting practices and policies
to the extent applicable. Consequently, results for the quarter and nine months
ended December 31, 2016 have been restated to comply with Ind AS to make those
comparable.
3. Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker ("CODM") of the Company. The CODM, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Managing Director (MD) of the Company.
4. Reconciliation of total comprehensive income for Period ended December 31, 2016:
5. During the quarter ended September 30, 2016, the Company had discontinued the operations of Pet Bottle Segment. Accordingly, figures for the quarter and nine months ended December 31, 2016 have been reclassified.
6. During the quarter ended December 31, 2017, the National Company Law
Tribunal (NCLT), vide order dated October 18, 2017, has approved the Scheme of
amalgamation of Oricon Properties Private Limited ('OPPL' or 'Transferor
Company'), a Wholly Owned Subsidiary of the Company, with Oricon Enterprises
Limited ('OEL' or 'Transferee Company') ('the Scheme") and the certified
copy of the Order approving the said Scheme has been filed with the Registrar
of Companies on November 15, 2017. The Company has given the effect to the
aforesaid Scheme in the results for the nine months ended December 31, 2017.
The appointed date of the said Scheme was July 01, 2016.
Pursuant to the Scheme and Appendix C to the Ind AS 103 Business Combination,
the said merger has been accounted using the pooling of interest method and
accordingly the Company has recorded all assets, liabilities and reserves
(including negative balance reserves, if any) pertaining to the Transferor
Company at their respective book values. Further as required by the Scheme, the
difference between the investment in the financial statements of the Transferee
Company in the Transferor Company and the amount of paid-up share capital of
the Transferor Company respectively, has been adjusted against the Capital
Reserves of the Transferee Company and all previous period figures of
standalone financials has been restated.
The standalone financial results for the current quarter include the operations
of the Transferor Company. The figures for the previous periods i.e., quarter
ended September 2017, quarter ended December 2016 and nine months ended
December 2016 have also been restated accordingly to incorporate the impact of
the Scheme of Arrangement. As a result, the net profit after tax for the
quarter ended September 2017, quarter ended December 2016 and nine months ended
December 2016 is higher by INR 13.878 Million, INR 13.912 Million and INR
29.006 l Million as against the earlier reported / adjusted on account of Ind
AS net profit after tax of INR 47.385 Million, Rs. 98.56 Million and INR 25.470
Million respectively.
7. The Board of Directors of the Company, at its meeting held on October 27,
2017, has approved a scheme of amalgamation ("the scheme") of
Oriental Containers Limited ("First Transferor Company") and Shinrai
Auto Services Limited ("Second Transferor Company"), wholly owned
subsidiaries of the Company, with the Company with an appointed date of April 01,
2017 ("Effective Date"). Further, pursuant to order dated January 12,
2018 of National Company Law Tribunal (NCLT), a Meeting of Equity Shareholders
of the Company is scheduled to be held on February 24, 2018 for approval of
Scheme of Amalgamation of Oriental Containers Limited ("First Transferor
Company") and Shinrai Auto Services Limited ("Second Transferor
Company"), wholly owned subsidiaries of the Company, with the Company.
8. Revenue from operations for periods upto June 30, 2017 includes excise duty,
which is discontinued effectively July 1, 2017 upon implementation of Goods and
Service Tax (GST). In accordance with 'Ind AS 18 - Revenue1, GST is not
included in Revenue from operations. In view of the aforesaid change in
indirect taxes, Revenue from operations for the quarter and half year ended on
September 30, 2017 is not comparable to the previous periods.
9. Previous quarter figures are re-classified / re-arranged / re-grouped
wherever necessary.
STATEMENT OF ASSETS AND LIABILITIES
(INR
in Million)
|
SOURCES
OF FUNDS |
31.12.2017 (Quarter Ended) |
30.09.2017 (Quarter Ended) |
31.12.2017 (Nine Months Ended) |
|
i) Segment Revenue |
|
|
|
|
Petrochemical |
74.996 |
62.655 |
203.919 |
|
Trading |
68.237 |
35.222 |
174.867 |
|
Liquid colorants |
3.438 |
3.135 |
13.033 |
|
Real Estate |
0.000 |
0.000 |
0.000 |
|
Total |
146.671 |
101.011 |
391.819 |
|
Less: Inter Segment Revenue |
0.000 |
0.000 |
0.000 |
|
Net sales / Income from Operations |
146.671 |
101.111 |
391.819 |
|
|
|
|
|
|
ii) Segment Results |
|
|
|
|
(Profit/Loss before tax and Interest from each segment) |
|
|
|
|
Petrochemical |
6.354 |
0.166 |
8.783 |
|
Trading |
1.436 |
0.519 |
3.492 |
|
Liquid colorants |
(2.070) |
(0.828) |
(3.021) |
|
Pet bottle |
0.000 |
0.000 |
0.000 |
|
Real Estate |
0.000 |
0.000 |
0.000 |
|
Total |
5.721 |
(0.143) |
9.254 |
|
Less: |
|
|
|
|
Interest |
(4.421) |
(3.768) |
(12.524) |
|
Other unallocable income net off unallocable expenditure |
16.519 |
71.074 |
170.807 |
|
Total Profit Before Tax |
17.818 |
67.163 |
167.537 |
|
|
|
|
|
|
iii) Segment Assets |
|
|
|
|
Petrochemical |
81.086 |
76.690 |
81.086 |
|
Trading |
107.296 |
81.936 |
107.296 |
|
Liquid colorants |
31.020 |
26.925 |
31.020 |
|
Pet bottle |
0.361 |
0.561 |
0.361 |
|
Real Estate |
2922.433 |
2922.433 |
2922.433 |
|
Unallocable |
5264.492 |
5248.936 |
5264.492 |
|
Total |
8406.688 |
8357.481 |
8406.688 |
|
|
|
|
|
|
iv) Segment Liabilities |
|
|
|
|
(Segment Assets – Segment Liabilities) |
|
|
|
|
Petrochemical |
22.033 |
23.681 |
22.033 |
|
Trading |
67.278 |
35.605 |
67.278 |
|
Liquid colorants |
9.099 |
3.476 |
9.099 |
|
Pet bottle |
0.701 |
0.701 |
0.701 |
|
Real Estate |
105.000 |
105.000 |
105.000 |
|
Unallocable |
137.763 |
191.468 |
137.763 |
|
Total |
341.874 |
359.931 |
341.874 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G82176330 |
100072585 |
RBL BANK LIMITED |
19/01/2017 |
20/03/2018 |
- |
520000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMa416001IN |
|
2 |
A04063715 |
10018183 |
ORIENTAL BANK OF COMMERCE |
18/08/2006 |
- |
- |
45000000.0 |
ANDHERI (WEST) BRANCH, 212 MANUBHARTI,S. V. ROAD,MUMBAIMH400058IN |
|
3 |
Z00120042 |
80026315 |
IDBI |
15/02/1999 |
- |
- |
100000000.0 |
IDBI Towe r,Cuffe parade ,MumbaiMH400005IN |
|
4 |
Z00119914 |
80026310 |
IDBI |
16/01/1998 |
- |
- |
150000000.0 |
IDBI TowerCuffe parademumbaiMH400005IN |
|
5 |
Z00120051 |
80026319 |
CBET |
30/10/1996 |
- |
- |
90000000.0 |
Jehangir Wadia Bldg.FortMumbaiMH400023IN |
|
6 |
Z00119898 |
80026309 |
IDBI |
15/02/1996 |
- |
- |
90000000.0 |
IDBI Tower ,Cuffe parade ,MumbaiMH400005IN |
|
7 |
G33276130 |
10505942 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
05/06/2014 |
- |
05/01/2017 |
17500000.0 |
130, PANDURANG BUDHKAR MARG,WORLIMUMBAIMH400018IN |
|
8 |
G32747495 |
10093928 |
PUNJAB NATIONAL BANK |
28/02/2008 |
14/06/2016 |
13/12/2016 |
250000000.0 |
READY MONEY TERRACEDR A B ROAD, WORLI NAKAMUMBAIMH400018IN |
|
9 |
G06777353 |
10592763 |
KOTAK MAHINDRA INVESTMENT LIMITED |
10/09/2015 |
- |
27/06/2016 |
300000000.0 |
27 BKC, C-27, G-BLOCKBANDRA KURLA COMPLEX, BANDRA(E)MUMBAIMH400051IN |
|
10 |
C80910649 |
10283034 |
PUNJAB NATIONAL BANK |
02/04/2011 |
- |
25/02/2016 |
80000000.0 |
SHIV E NUMH,DR ANNIE BESANT ROAD, WORLIMUMBAIMH400018IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Disputed demands of Excise Duty |
12.573 |
12.573 |
|
Income Tax disputed in appeals |
156.222 |
120.154 |
|
Assignment of sales tax liability |
0.000 |
46.649 |
|
On account of corporate guarantees to a Bank for financial facility extended to Subsidiary Company |
130.000 |
170.000 |
|
Letter of Credit |
33.637 |
46.241 |
FIXED ASSETS
· Leasehold Land
· Freehold Land
· Buildings
· Residential Flats
· Plant and Machinery
· Electric Installations
· Office Equipments
· Computer
· Furniture and Fixtures
· Vehicles
· Fire Fighting Equipments
· Laboratory Equipments
·
Weighing Machines
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 67.38 |
|
|
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
KJL |
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 |
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.