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MIRA INFORM REPORT
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Report No. : |
508848 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
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Name : |
BHAGYANAGAR INDIA LIMITED (w.e.f 10.08.2006) |
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Formerly Known
As : |
BHAGYANAGAR METALS LIMITED |
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Registered
Office : |
5th Floor,
Surya Towers, Sardar Patel Road, Secunderabad - 500003, Telangana |
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Tel. No.: |
91-40-27845119/ 44665700/ 27841198 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
02.09.1985 |
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Com. Reg. No.: |
36-012449 |
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Capital
Investment / Paid-up Capital : |
INR 63.990 Million |
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CIN No.: [Company Identification
No.] |
L27201TG1985PLC012449 |
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IEC 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
: |
Manufacturer of Copper and other copper products and alloys (Registered Activity) |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1985. It is a manufacture of copper and other copper products and alloys. For the financial year 2017, the revenue of the company has increased by 3.66% along with profit margin of 1.65%. The sound financial profile of the company is marked by adequate net worth base along with negligible base level. The rating takes into consideration the subject’s long established track record of the business operations along with extensive experience of its promoters. The company has its share price trading at around INR 37.15 against the face value (FV) of 02 on BSE as on 11 November 13, 2017. As per the unaudited quarterly financials of December 2017, the company has achieved revenue of INR 1192.724 million and has reported profit margin of 1.60%. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term (Withdrawal) = BB+ |
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Rating Explanation |
Moderate risk of default |
|
Date |
18.08.2017 |
Reason for Withdrawal : Received no objection
certificate from Bank
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 16.05.2018
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 BY
|
Name : |
Mr. Amodh Rao |
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Designation : |
Office Executive |
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Contact No.: |
91-40-44665769 |
|
Name : |
Mr. N. V. Rao |
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Designation : |
Vice President |
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Contact No.: |
91-9848121340 |
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Date : |
10.05.2018 |
LOCATIONS
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Registered Office : |
5th Floor, Surya
Towers, S.P. Road, Secunderabad-500003, Telangana,
India |
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Tel. No.: |
91-40-27845119/ 44665700/ 27841198 |
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Mobile No.: |
91-9848121340 (Mr. Amodh Rao) |
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Fax No.: |
91-40-27818868 / 27848851 |
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E-Mail : |
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Website : |
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Works Copper
Division 1/Marketing Office: |
Auto Electric,
Electrical and Solar Components) Plot No. P-9/13(1)
and P-9/14, IDA Nacharam, Hyderabad-500076, Telangana, India |
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Tel. No.: |
91-40-27175891, 27151278 |
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Fax No.: |
91-40-27172140 |
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E-Mail : |
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Works Copper
Division 2: |
Harinam Wires Plot No. P
9/13 (A),(B),(C), Industrial Development Area, Nacharam, Hyderabad – 500076, Telangana, India |
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Works Copper
Division 3: |
Hardware Park Plot No.
228, Raviyal Village, Maheshwaram Mandal R.R, Hyderabad – 532409, Telangana, India |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Narender Mangilal Surana |
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Designation : |
Managing Director |
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Address : |
Sy-622, Pt-02, Arihant Enclave Akbar Road,
Opposite Adrin Housing, Complex Secunderabad -500009, Telangana, India |
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Date of Birth/Age : |
06.07.1960 |
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Date of Appointment : |
12.03.1991 |
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DIN No.: |
00075086 |
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Name : |
Mr. Devendra Surana |
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Designation : |
Managing Director |
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Address : |
21, P and T Colony, Trimulgherry,
Secunderabad 500009, Telangana, India |
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Date of Birth/Age : |
08.02.1965 |
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Date of Appointment : |
12.03.1991 |
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DIN No.: |
00077296 |
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Name : |
Mr. Krupakar Reddy Nadimpally |
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Designation : |
Whole Time Director |
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Address : |
253, LIG-B Dr. A.S. Rao Nagar, Hyderabad
500062, Telangana, India |
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Date of Birth/Age : |
01.07.1956 |
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Date of Appointment : |
07.06.2002 |
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DIN No.: |
00006580 |
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Name : |
Mr. Narendra Singh Munoth |
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Designation : |
Whole Time Director |
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Address : |
H. No. 1-2-412/6/A, Valmikinagar,
Domalguda, Hyderabad -500029, Telangana, India |
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Date of Birth/Age : |
03.05.1953 |
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Date of Appointment : |
15.11.2013 |
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DIN No.: |
00079581 |
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Name : |
Mr. Kamlesh Suresh Gandhi |
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Designation : |
Director |
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Address : |
6, Palm Grove, 26, Pushpak Park, Aundh, Pune -411007, Maharashtra, India |
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Date of Birth/Age : |
16.06.1950 |
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Date of Appointment : |
12.12.2005 |
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DIN No.: |
00004969 |
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Name : |
Mr. Swaminatha Reddy Onteddu |
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Designation : |
Director |
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Address : |
Plot No 813, Road No.41, Jubilee Hills,
Hyderabad - 500033, Telangana, India |
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Date of Birth/Age : |
25.12.1930 |
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Date of Appointment : |
12.03.1991 |
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DIN No.: |
00006391 |
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Name : |
Mr. Venkata Subbiah Dintakurthi |
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Designation : |
Director |
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Address : |
201, Umanagar Colony, Umanagar, Begumpet,
Hyderabad- 500016, Telangana, India |
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Date of Birth/Age : |
01.07.1942 |
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Date of Appointment : |
29.07.2002 |
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DIN No.: |
00006618 |
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Name : |
Mr. Gulabchand Mangilal Surana |
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Designation : |
Director |
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Address : |
21, P and T Colony, Trimulgherry,
Secunderabad 500009, Telangana, India |
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Date of Birth/Age : |
08.11.1930 |
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Date of Appointment : |
12.03.1991 |
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DIN No.: |
00078987 |
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Name : |
Mr. Surender Reddy Ramasahayam |
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Designation : |
Director |
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Address : |
8-2-293/82/A/947, Road No:47, Jubilee
Hills, Hyderabad -500033, Telangana, India |
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Date of Birth/Age : |
10.10.1931 |
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Date of Appointment : |
12.03.1991 |
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DIN No.: |
00083972 |
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Name : |
Ms. Madhumathi Suresh |
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Designation : |
Director |
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Address : |
Gokul P No: 3, H No: 134, Jyothi Colony, Aoc
Centre, Secunderabad- 500015, Telangana, India |
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Date of Birth/Age : |
25.06.1963 |
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Date of Appointment : |
23.03.2015 |
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DIN No.: |
07124113 |
KEY EXECUTIVES
|
Name : |
Mr. Surendra Bhutoria |
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Designation : |
Chief Finance Officer |
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Address : |
202, Gayatri Residency, Ishaq Colony,
Picket, Secunderabad- 500015, Telangana, India |
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Date of Appointment : |
08.08.2014 |
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PAN No.: |
ALPPB8848K |
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Name : |
Mr. Badarish Hari Chimalgi |
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Designation : |
Company Secretary |
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Address : |
H. No. 3-4-60/6, Lingampally Kachiguda,
Hyderabad- 500027, Telangana, India |
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Date of Appointment : |
18.05.2017 |
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PAN No.: |
ARNPC0355J |
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STATUTORY
COMMITTEES AUDIT COMMITTEE |
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NOMINATION AND
REMUNERATION COMMITTEE |
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STAKEHOLDERS
RELATIONSHIP COMMITTEE |
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Name : |
Mr. G Mangilal Surana |
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Designation : |
Chairman Emeritus |
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Name : |
Mr. Amodh Rao |
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Designation : |
Office Executive |
|
Name : |
Mr. N. V. Rao |
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Designation : |
Vice President |
MAJOR SHAREHOLDERS
As on 30.09.2017
|
Category of
shareholder |
No. of fully
paid up equity shares held |
Shareholding as
a % of total no. of shares |
|
(A) Promoter & Promoter Group |
23343665 |
72.96 |
|
(B) Public |
8651335 |
72.04 |
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Grand Total |
31995000 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND
PROMOTER GROUP
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STATEMENT
SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
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Mutual Funds/ |
250 |
0.00 |
|
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Financial Institutions/ Banks |
272979 |
0.85 |
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Sub Total B1 |
273229 |
0.85 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
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Central Government/ State Government(s)/ President of India |
88350 |
0.28 |
|
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Sub Total B2 |
88350 |
0.28 |
|
|
B3) Non-Institutions |
0.00 |
||
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Individual share capital upto INR 0.200 Million |
5393001 |
16.86 |
|
|
Individual share capital in excess of INR 0.200 Million |
1779870 |
5.56 |
|
|
SAMBHAV MUNOTH |
823000 |
2.57 |
|
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Any Other (specify) |
1116885 |
3.49 |
|
|
Trusts |
250 |
0.00 |
|
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Non-Resident Indian (NRI) |
176923 |
0.55 |
|
|
Clearing Members |
38315 |
0.12 |
|
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NON RESIDENT INDIAN NON REPATRIABLE |
20885 |
0.07 |
|
|
Bodies Corporate |
735880 |
2.30 |
|
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IEPF |
144632 |
0.45 |
|
|
Sub Total B3 |
8289756 |
25.91 |
|
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B=B1+B2+B3 |
8651335 |
27.04 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Copper and other copper products and alloys (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
120 (Approximately) |
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Bankers : |
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Facilities : |
Note : LONG TERM BORROWING Term Loan From
ICICI Bank: Long Term Foreign Currency Monetary Item (a)
ICICI Bank provided ECB amounting to USD
13,560,000 carrying a fixed interest rate of 6.96%. ECB is secured by first
charge on certain fixed assets of the company and personal guarantee of
Managing Directors. Long Term ECB liability as at 31.03.2017 amounting to USD
40,84,880 is valued at INR 64.84 per USD against INR 66.33 per USD. as on
31st March,2016. The company has prepaid USD 22,45,341 amounting to INR 150.000 Million, besides 4 instalments being repaid during the current Financial Year amounting to USD 36,16,997. The total repayment during the Financial year is INR 235.500 Million. (b)
Term Loan from State Bank of India availed
for 5MW Solar Power Plant is transferred to M/s Surana Telecom and Power
Limited as part of Scheme of Demerger. SHORT TERM
BORROWINGS (a)
Working Capital facilities availed from
various banks and are secured by hypothecation of stocks, Debtors and first
charge on pari-passu basis on specific fixed assets of the company
respectively and personal guarantee of the Managing Directors. |
|
STATUTORY AUDITORS: |
|
|
Name : |
Sekhar and Company Chartered Accountants |
|
Address : |
133/4, R. P. Road, Secunderabad-500 003, Telangana, India |
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Tel. No.: |
91-40-27533391, 27536342, 27543132 |
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E-Mail : |
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INTERNAL AUDITORS: |
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|
Name : |
Luharuka and Associates Chartered Accountants, |
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Address : |
5-4-187/3 and 4, Soham Mansion, 2nd Floor, Above Bank of Baroda, M G
Road, Secunderabad-500 003, Telangana, India |
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COST AUDITORS: |
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Name : |
BVR and Associates |
|
Address : |
H. No. 6-3-628/3, Flat No. 101, R.V. Naipunya Apartment, Anand Nagar
Colony, Khairatabad, Hyderabad-500 004, Telangana, India |
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SECRETARIAL AUDITORS: |
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|
Name : |
Rakhi Agarwal Company Secretary in Practice |
|
Address : |
A-10, Janata HSG. Society, Opposite Pantaloons, Shyamlal
Building, Begumpet, Hyderabad -500 016, Telangana, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Entities in which significant
influence exists and with whom transactions have taken place during the year:
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Subsidiary
Companies: |
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Associates: |
(CIN - U28112GA2015PTC007776) |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
INR 2/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31995000 |
Equity Shares |
INR 2/- each |
INR 63.990 Million |
|
|
|
|
|
c) Particulars of Shareholders
holding more than 5% of issued share capital (5% of 31995000) = 1599750
|
Name of Shareholder |
% |
No. of shares |
|
Surana Infocom Private Limited |
13.58 |
4345139 |
|
Narender Surana |
8.73 |
2793454 |
|
Manish Surana |
7.71 |
2466704 |
|
Devendra Surana |
7.34 |
2349382 |
|
Namrata Surana |
5.85 |
1870335 |
|
G.M.Surana |
6.43 |
2056145 |
|
Chand Kanwar Surana |
5.33 |
1704949 |
|
Sunita Surana |
5.33 |
1638335 |
Upon the Scheme of demerger becoming effective the issued, subscribed and paid up share capital of the company has been reorganised and reduced from present 127980000/- comprising of 63990000 equity shares of INR 2/- each fully paid up to INR 63.990 Million comprising of 31995000 equity shares of INR 2/- each fully paid up.
Reconciliation of
shares outstanding at the beginning & at the end of the Reporting Period
|
Particulars |
No. |
As at 31.03.2017 (INR in million) |
|
At the beginning of the year |
63990000 |
127.980 |
|
Less: Reduction of Share Capital |
31995000 |
63.990 |
|
outstanding at the end of the year |
31995000 |
63.990 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
63.990 |
127.980 |
127.980 |
|
(b) Reserves & Surplus |
964.499 |
1992.821 |
1959.479 |
|
(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) |
1028.489 |
2120.801 |
2087.459 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
265.170 |
507.441 |
629.624 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
265.170 |
507.441 |
629.624 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
400.953 |
296.490 |
409.408 |
|
(b) Trade
payables |
16.027 |
63.547 |
7.668 |
|
(c) Other
current liabilities |
174.519 |
190.491 |
164.965 |
|
(d) Short-term
provisions |
0.900 |
0.900 |
23.636 |
|
Total Current
Liabilities (4) |
592.399 |
551.428 |
605.677 |
|
|
|
|
|
|
TOTAL |
1886.058 |
3179.670 |
3322.760 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
494.640 |
781.438 |
792.208 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
9.195 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
14.017 |
261.113 |
270.844 |
|
(c) Deferred tax assets (net) |
2.121 |
4.218 |
5.239 |
|
(d) Long-term Loan and Advances |
254.987 |
1179.912 |
1166.383 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
765.765 |
2226.681 |
2243.869 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
510.093 |
334.364 |
417.611 |
|
(c) Trade
receivables |
330.843 |
293.298 |
300.878 |
|
(d) Cash
and cash equivalents |
52.393 |
31.258 |
84.748 |
|
(e)
Short-term loans and advances |
89.089 |
156.995 |
142.061 |
|
(f) Other
current assets |
137.875 |
137.074 |
133.593 |
|
Total
Current Assets |
1120.293 |
952.989 |
1078.891 |
|
|
|
|
|
|
TOTAL |
1886.058 |
3179.670 |
3322.760 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2927.709 |
2824.246 |
2517.467 |
|
|
Other
Income |
89.272 |
113.230 |
95.995 |
|
|
TOTAL |
3016.981 |
2937.476 |
2613.462 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost
of Materials Consumed |
2493.377 |
2254.655 |
2424.257 |
|
|
Changes
in inventories of finished goods, work-in-progress and Stock-in-Trade |
43.775 |
195.469 |
(258.919) |
|
|
Employees
benefits expense |
50.806 |
47.531 |
51.358 |
|
|
Other
expenses |
230.574 |
266.003 |
220.129 |
|
|
Extraordinary
Item |
42.589 |
0.000 |
0.000 |
|
|
Exceptional
Item |
10.845 |
22.294 |
19.754 |
|
|
TOTAL |
2871.966 |
2785.952 |
2456.579 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
145.015 |
151.524 |
156.883 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
59.369 |
76.152 |
83.275 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
85.646 |
75.372 |
73.608 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
34.359 |
50.582 |
49.657 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
51.287 |
24.790 |
23.951 |
|
|
|
|
|
|
|
Less |
TAX |
2.875 |
4.596 |
3.448 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
48.412 |
20.194 |
20.503 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
751.589 |
731.464 |
753.997 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer
to General Reserve |
23.199 |
0.000 |
20.000 |
|
|
Dividend |
0.000 |
0.000 |
19.197 |
|
|
Tax
on Dividend |
0.000 |
0.069 |
3.839 |
|
|
Total (M) |
23.199 |
0.069 |
43.036 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
800.001 |
751.589 |
731.464 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B.
Value of Exports |
21.293 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
21.293 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw
Materials |
938.030 |
353.998 |
1049.576 |
|
|
Components
and Stores parts |
9.834 |
11.636 |
9.604 |
|
|
TOTAL IMPORTS |
947.864 |
365.634 |
1059.180 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
1.51 |
0.32 |
0.32 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current
Maturities of Long term debt |
|
|
|
|
Term loan - ICICI Bank |
71.324 |
121.603 |
108.976 |
|
Term loan - SBI |
0.000 |
30.768 |
7.692 |
|
Car loan - Axis Bank |
0.000 |
0.000 |
0.215 |
|
Intercorporate
Liability |
53.981 |
0.431 |
16.160 |
|
Deferred Sales Tax |
0.052 |
8.374 |
0.000 |
|
Total |
125.357 |
161.176 |
133.043 |
|
|
|
|
|
|
Cash generated from operations |
(201.404) |
216.589 |
(235.943) |
|
Net cash flows from (used in) operating activity |
(207.723) |
203.697 |
(230.721) |
QUARTERLY
RESULTS
|
Particulars |
(Unaudited) Quarter Ended 30.06.2017 |
(Unaudited) Quarter Ended 30.09.2017 |
(Unaudited) Quarter Ended 31.12.2017 |
|
Net Sales |
1064.060 |
1081.240 |
1192.720 |
|
Total Expenditure |
1034.090 |
1050.800 |
1156.860 |
|
PBIDT (Excl OI) |
29.970 |
30.440 |
35.860 |
|
Other Income |
5.870 |
7.430 |
7.210 |
|
Operating Profit |
35.840 |
37.870 |
43.070 |
|
Interest |
9.600 |
9.390 |
9.120 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
26.240 |
28.480 |
33.950 |
|
Depreciation |
8.640 |
8.910 |
10.020 |
|
Profit Before Tax |
17.600 |
19.570 |
23.930 |
|
Tax |
3.520 |
3.910 |
4.790 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
14.080 |
15.650 |
19.140 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
14.080 |
15.650 |
19.140 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
41.25 |
37.91 |
43.62 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.85 |
9.63 |
8.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
2.31 |
9.47 |
1.29 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.28 |
0.45 |
0.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.29 |
0.19 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.52 |
0.38 |
0.41 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.77 |
0.46 |
0.56 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.58 |
0.26 |
0.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.48 |
0.37 |
0.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
2.44 |
1.99 |
1.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.65 |
0.72 |
0.81 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.57 |
0.64 |
0.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
4.71 |
0.95 |
0.98 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.89 |
1.73 |
1.78 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.03 |
1.12 |
1.09 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.55 |
0.67 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
12.37 |
7.54 |
9.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
1.89 |
1.73 |
1.78 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 02/- |
|
Market Value |
INR 43.00/- |
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 |
127.980 |
127.980 |
63.990 |
|
Reserves & Surplus |
1959.479 |
1992.821 |
964.499 |
|
Net worth |
2087.459 |
2120.801 |
1028.489 |
|
|
|
|
|
|
long-term borrowings |
629.624 |
507.441 |
265.170 |
|
Short term borrowings |
409.408 |
296.490 |
400.953 |
|
Current maturities of
long-term debts |
133.043 |
161.176 |
125.357 |
|
Total
borrowings |
1172.075 |
965.107 |
791.480 |
|
Debt/Equity
ratio |
0.561 |
0.455 |
0.770 |
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 |
2517.467 |
2824.246 |
2927.709 |
|
|
|
12.186 |
3.663 |
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 |
2517.467 |
2824.246 |
2927.709 |
|
Profit |
20.503 |
20.194 |
48.412 |
|
|
0.81% |
0.72% |
1.65% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
63.990 |
127.980 |
|
(b) Reserves &
Surplus |
|
971.553 |
2083.388 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
(3) Minority Interest |
|
11.155 |
15.568 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1046.698 |
2226.936 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
288.712 |
572.741 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
288.712 |
572.741 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
400.953 |
296.491 |
|
(b) Trade payables |
|
20.298 |
68.275 |
|
(c) Other current
liabilities |
|
175.352 |
193.931 |
|
(d) Short-term provisions |
|
0.900 |
0.900 |
|
Total Current Liabilities
(4) |
|
597.503 |
559.597 |
|
|
|
|
|
|
TOTAL |
|
1932.913 |
3359.274 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
724.046 |
2056.092 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
7.120 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
1.003 |
257.754 |
|
(c) Deferred tax assets
(net) |
|
26.478 |
22.120 |
|
(d) Long-term Loan and Advances |
|
24.865 |
39.176 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
776.392 |
2382.262 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
510.093 |
334.364 |
|
(c) Trade receivables |
|
364.445 |
314.641 |
|
(d) Cash and cash
equivalents |
|
54.281 |
33.839 |
|
(e) Short-term loans and
advances |
|
89.828 |
157.095 |
|
(f) Other current assets |
|
137.874 |
137.073 |
|
Total Current Assets |
|
1156.521 |
977.012 |
|
|
|
|
|
|
TOTAL |
|
1932.913 |
3359.274 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
2973.743 |
2864.636 |
|
|
Other Income |
|
69.414 |
95.586 |
|
|
TOTAL
|
|
3043.157 |
2960.222 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
2493.377 |
2254.655 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
43.775 |
195.469 |
|
|
Employees benefits expense |
|
50.806 |
48.516 |
|
|
Other expenses |
|
241.736 |
277.213 |
|
|
Extra ordinary item |
|
42.589 |
0.000 |
|
|
Exceptional Item |
|
10.845 |
22.293 |
|
|
TOTAL |
|
2883.128 |
2798.146 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
160.029 |
162.076 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
61.287 |
76.157 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
98.742 |
85.919 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
47.119 |
63.696 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
51.623 |
22.223 |
|
|
|
|
|
|
|
Less |
TAX |
|
(1.888) |
(3.224) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
53.511 |
25.447 |
|
|
||||
|
|
Earnings
/ (Loss) Per Share (INR) |
|
1.75 |
0.39 |
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 |
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 |
PERFORMANCE AND OPERATIONS:
During the year 2016-17, the Company’s total revenue is increased by 2.71% as that of last year. PBT increased by 106.88% as compared to last year. PAT also increased by 139.73% as compared to previous year.
OUTLOOK FOR THE YEAR
2017-18:
(i) Copper: The Company will remain focused on copper business. They will continue to add further value added products in line with the requirement of their OEM customers. They are looking at a minimum of 10% volume growth in this year. The situation post GST looks very promising and the company’s disadvantage against tax free territories like Silvasa will no longer apply.
(ii) Wind Power: The Company currently has an overall installed capacity of 9 MW comprising of 7 wind turbines in state of Karnataka and 6.4 MW comprising 5 wind turbines in Tamilnadu through its Subsidiary viz., Solar Dynamics Private Limited. The said projects are giving steady income.
COMPANY’S OVERVIEW
Bhagyanagar India Limited (BIL) was incorporated in the year 1985, a flagship Company of Surana Group. BIL is among the oldest and largest companies producing copper products in India. Over the years the organisation has diversified into telecom products, solar products and non-conventional energy (wind power). BIL believes its industry knowledge, proactive research and specialized technology helps provide customers with improved products. The Company has steadily grown over the years with a continued focus on customer satisfaction, evolving itself into country’s one of the most promising mid cap Companies.
PERFORMANCE OF KEY
INDUSTRY SEGMENTS
COPPER PRODUCTS:
Copper is an important non-ferrous metal used in various forms for different applications. Copper is a vital and positive contributor to humankind and has improved their quality of life for centuries. Copper is essential for modern living. Copper’s chemical, physical and aesthetic properties make it a material of choice in a wide range of domestic, industrial and high technology applications. By using copper for circuitry in silicon chips, microprocessors are able to operate at higher speeds, using less energy. Copper is used in construction industry as plumbing, taps, valves and fittings components. In Transportation industry copper is used in various components. It is used in a number of consumer products such as coinage, utensils, fixtures etc. Today, renewable sources provide nearly one-quarter of the world’s power and copper play an important role in making it as efficient as possible, with minimal impact on the environment. Copper is essential for use in sustainable energy systems that harness wind, hydro, thermal and solar power. Over the years the use of copper has witnessed growth in electrical, transport, Consumer durables, engineering, construction, telecommunication etc. sectors.
GLOBAL BUSINESS SCENARIO:
While 2015 was rough for copper, demand rebounded last year 2016, with global copper demand growing from 0.9% to 1.8% year over year. A 2.5% increase in apparent Chinese demand put the global refined copper market in a 50,000 mt def cit in 2016. At the end of 2016 there was a clear rebound of prices related to the overall change in the outlook for the entire commodity market and the acceleration of a global economy. World copper mine production had grown by 6% in 2016, aided by new and expanded capacities that came online in Mexico and Peru. Also, the frequency of supply disruptions at mines had witnessed significant decline in 2016, when compared with the year before.
Global copper mine production last year grew an estimated 5%, or 1 million mt, to 20.15 million mt, with concentrate production increasing by 7% and SX-EW declining by 2%. The main contributor to growth in world refined production was China (increase of 6%, or 470,000 mt), followed by the United States and Japan, where production increased by 7% and 5%, respectively, and by Mexico (16%) where expanded SX-EW capacity contributed to refined production growth.
According to ICSG, world apparent refined usage of the metal is expected to increase by nearly 2% in 2017 and 2018. The overall world copper mine production is expected to increase marginally by 1%, mainly on account of anticipated 5% year over-year decline in SX-EW output. The refined copper output from scrap is expected to surge by 5% during the year. The production from scrap is likely to witness growth during the year. The increased availability of scrap will boost secondary refined production in 2018. China will continue to remain as the key contributor to refined production growth in 2017 and 2018.
As per ICSG Report, after growth of almost 6% in 2016, world mine production after adjusting for historical disruption factors, is expected to decline by 1% in 2017 and remain essentially unchanged in 2018. World refined copper market is likely to end in deficit of around 150,000 metric tonnes in 2017. The deficit is likely to increase further to 170,000 metric tonnes in 2018.
INDIAN COPPER
INDUSTRY AND DEMAND OUTLOOK:
India has limited copper ore reserve contributing about 2% of world reserves. Only 20,000 sq.km. area explored out of a potential 60,000 sq.km. Reserve to Production and Reserve to Resource ratio very low. Mining production is just 0.2% of world’s production. Whereas refined copper production is about 4% of world’s production. India has 4th global ranking in smelter production and 8th in refined consumption. Indian Refining capacity higher than local demand-net exporter of refined copper. There is an opportunity to increase ore production through expansion and green field exploration.
The decline in domestic coal prices in India was a major relief. Falling prices of copper in international markets would also benefit India, as it is one of the world’s biggest importers of the metal, alongside China, Japan, South Korea and Germany. As a consequence, volatility in prices of the metal on the LME has a significant bearing on Indian copper trading. India has a huge growth potential in copper consumption for the next 20-25 years as the government increases focus on smart cities, rapid urbanization and investments in infrastructure. India is expected to be the 6th largest copper market by 2020 with major consumption sectors being – Electrical, Transport and Telecommunications. Moreover, domestic production too remained strong, driven by higher production by the domestic custom smelters. It is a strategic sector where copper demands is and will be from smart cities, power, transmission and defence. This is expected to spur copper demand as the electrical and power sectors account for nearly one-third of the refined copper consumption. Demand from other industries such as transport, consumer and electronic goods and industrial machinery is also expected to remain strong on the back of increased end user demand and increasing investments.
BUSINESS OUTLOOK:
With the good macro-economic situation of our country they are expecting this year to be a very good year. The situation post GST introduction looks very favourable for our company and the company will have much higher competitiveness against their competition in territories like Silvasa, Baddi etc. New value added products introduced by the company is getting good traction from OEM customers across various sectors such as Automobile, Electrical Switch Gears, Heaters etc. The company always has exposure to foreign exchange against their imports. The macroeconomic factors and the stability in the rupee parity also augurs very well for the company.
NON-CONVENTIONAL
ENERGY - WIND POWER:
Wind power generation capacity in India has significantly increased in recent years. A record level of 5,400 MW of wind power capacity added in 2016-17. With the addition of 5,400 MW, the country’s wind power capacity stands at 31,177 MW mainly spread across the South, West and North regions. With 31 GW, India has the fourth highest wind installations in the world after China (145,362 MW), US (74,470 MW) and Germany (44,947 MW). The government aims to see 60,000 MW by 2022.The highest installations are likely to come from Andhra Pradesh, around 2,500 MW, Sarvesh Kumar said. Gujarat (around 1,000 MW) and Karnataka (700 MW) were the bigger markets this year. India wind power tariff follows solar route, falls to record low. Wind power tariffs fell to a record low in a 1 gigawatt (GW) tender by state-run Solar Energy Corporation of India (SECI), potentially placing India at the tipping point on the renewable energy front. Solar power tariffs had hit new lows at an auction earlier this month. The government plans to achieve 175 GW of renewable energy capacity by 2022 as part of its commitments to the Paris climate change agreement. The price gap between electricity generated from thermal, solar and wind projects has been narrowing. This is primarily due to costs of solar modules and wind turbine generators falling by 80% and 20%, respectively, over the past five years.
OUTLOOK:
The Indian government has committed to a target of 175 GW of
renewable energy by 2022, including 100 GW of solar capacity and 60 GW of
cumulative wind power capacity. The government has also indicated its support
for rapidly growing the power sector, renewables being a core part of this
strategy. The government in its latest budget announcement for FY 2016-17
reduced the AD from 80% to 40%. Further, the Generation Based Incentive will
come to an end in 2017. These two factors will likely contribute to a rush for
installations of wind farms that could result in installations during the
Indian fiscal year 2016-2017 of 4,000 MW. The current manufacturing capacity in
the country is around 9,500 MW.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G70396643 |
100120889 |
KOTAK MAHINDRA BANK LIMITED |
06/09/2017 |
20/11/2017 |
- |
160000000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E), MUMBAI-400051IN |
|
2 |
C32954059 |
10530211 |
THE RATNAKAR BANK LIMITED |
29/10/2014 |
- |
- |
70000000.0 |
SHAHUPURI,KOLHAPUR, 416001IN |
|
3 |
B22725782 |
10310628 |
ICICI BANK LIMITED |
12/10/2011 |
- |
- |
666000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
4 |
C67444653 |
90140352 |
STATE BANK OF INDIA |
23/03/2005 |
23/09/2015 |
- |
514800000.0 |
COMMERCIAL BRANCH, SECUNDERABAD, MCGASHOKA MY HOME CHAMBERS, S. P. ROAD, SECUNDERABAD-500003IN |
|
5 |
G86225166 |
10434821 |
ICICI BANK LIMITED |
18/06/2013 |
22/11/2013 |
18/04/2018 |
50000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
6 |
G76978097 |
10030181 |
CORPORATION BANK |
14/12/2006 |
01/12/2011 |
25/01/2018 |
230000000.0 |
D.NO.1-2-235, G & HPARK LANE, M.G. ROADSECUNDERABADAP500003IN |
|
7 |
G00904649 |
90139758 |
STATE BANK OF INDIA |
27/03/1991 |
26/08/1991 |
17/03/2016 |
5000000.0 |
HYDERABAD MAIN BRANCHBANK STREETHYDERABADAPIN |
|
8 |
G00902379 |
80018660 |
STATE BANK OF INDIA |
07/05/1991 |
- |
17/03/2016 |
16630000.0 |
MAIN BRANCHBANK STREETHYDERABADAP500195IN |
|
9 |
G00877134 |
90137306 |
STATE BANK OF INDIA |
27/03/1991 |
14/03/1996 |
17/03/2016 |
15000000.0 |
C & I DIVISIONHYDERABAD MAIN BRANCH; BANK STREETHYDERABADAP500195IN |
|
10 |
G00876417 |
80018658 |
STATE BANK OF INDIA |
07/05/1991 |
- |
17/03/2016 |
4900000.0 |
MAIN BRANCHBANK STREETHYDERABADAP500195IN |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Commitments/Contingent Liabilities |
|
|
|
Counter Guarantees given to the Banks against Guarantee issued by them |
24.177 |
37.377 |
|
Letters of Credit opened by Banks |
- |
2.922 |
|
Sub Total (A) |
24.177 |
40.298 |
|
Claims against the
company not acknowledged as debts in respect of |
|
|
|
Customs Duty/Excise Duty matters under Dispute |
4.225 |
18.040 |
|
Demand raised by Income-Tax Authorities contested by the Company |
- |
10.536 |
|
Civil Cases |
0.811 |
- |
|
Sub Total (B) |
5.036 |
28.577 |
STANDALONE UNAUDITED FINANCIAL RESULTS FOR
THE QUARTER ENDED 30.06.2017
(INR
In Million)
|
PARTICULARS |
QUARTER ENDED UNAUDITED |
NINE MONTHS ENDED |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
REVENUE FROM OPERATIONS |
|
|
|
|
Net Sale |
1192.724 |
1081.243 |
3338.027 |
|
Other Operating Income |
7.207 |
7.426 |
20.585 |
|
Total
come from Operations |
1199.931 |
1088.669 |
3358.612 |
|
EXPENSES |
|
|
|
|
Consumption of Raw Material |
1088.615 |
892.033 |
2884.123 |
|
(Increase) / decrease in Stock -in- trade |
-9.103 |
78.376 |
30.648 |
|
Excise duty |
0.011 |
0.000 |
95.281 |
|
Staff Cost |
12.760 |
13.373 |
39.924 |
|
Operating Expenses |
30.736 |
34.145 |
91.220 |
|
Finance Costs |
9.121 |
9.389 |
28.193 |
|
Depreciation and Amortization expenses |
10.023 |
8.906 |
27.573 |
|
Other Expenses |
33.841 |
32.882 |
100.553 |
|
Total expenses |
1176.004 |
1069.104 |
3297.515 |
|
Profit
/ (Loss) before Tax |
23.927 |
19.565 |
61.097 |
|
Tax Expense |
4.786 |
3.914 |
12.219 |
|
Profit
/ (Loss) after Tax |
19.141 |
15.651 |
48.878 |
|
Other comprehensive
income |
- |
- |
-- |
|
Total comprehensive
income for the period |
19.141 |
15.651 |
48.878 |
|
Paid-up equity share capital |
63.990 |
63.990 |
63.990 |
|
Face value per share |
|
|
2.00 |
|
Earnings per share |
|
|
|
|
Basic EPS |
0.60 |
0.49 |
1.53 |
|
Diluted EPS |
0.60 |
0.49 |
1.53 |
SEGMENT
PUBLICATION FOR THE QUARTER ENDED 30TH JUNE, 2017
|
Particulars |
QUARTER ENDED UNAUDITED |
NINE MONTHS ENDED |
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
|
|
|
|
A) Segment Revenue |
|
|
|
|
Copper Division |
1182.841 |
1055.031 |
3277.588 |
|
Renewable Energy - Wind |
7.761 |
24.106 |
54.113 |
|
Others |
2.123 |
2.106 |
6.326 |
|
Total |
1192.725 |
1081.243 |
3338.027 |
|
|
|
|
|
|
B) Segment Results |
|
|
|
|
Copper Division |
38.516 |
18.582 |
78.001 |
|
Renewable Energy - Wind |
2.556 |
20.463 |
38.641 |
|
Others |
1.106 |
2.192 |
5.072 |
|
Sub Total |
42.178 |
41.237 |
121.714 |
|
Less: Interest |
9.121 |
9.389 |
28.193 |
|
Less: Unallocable expense net of unallocable income |
9.130 |
12.282 |
32.426 |
|
Total Profit Before
Tax |
23.927 |
19.565 |
61.097 |
|
|
|
|
|
|
C) Segment Assets |
|
|
|
|
Copper Division |
1139.466 |
1023.227 |
1139.466 |
|
Renewable Energy - Wind |
410.902 |
484.266 |
410.902 |
|
Unallocated |
339.729 |
318.838 |
339.729 |
|
Total |
1890.097 |
1826.331 |
1890.097 |
|
|
|
|
|
|
C) Segment
Liability |
|
|
|
|
Copper Division |
413.884 |
350.788 |
413.884 |
|
Renewable Energy - Wind |
3.776 |
2.327 |
3.776 |
|
Unallocated |
183.847 |
183.638 |
183.847 |
|
Total |
601.507 |
536.753 |
601.507 |
|
|
|
|
|
|
Capital Employed |
|
|
|
|
Copper Division |
725.583 |
672.439 |
725.583 |
|
Renewable Energy - Wind |
407.126 |
481.939 |
407.126 |
|
Unallocated |
155.882 |
135.201 |
155.882 |
|
Total |
1288.591 |
1289.579 |
1288.591 |
Notes:
- The above unaudited
financial results for the Nine Months ended 31st December, 2017 were reviewed
by the Audit committee and thereafter approved at the meeting of Board of
Directors of the company held on February 10th, 2018. The said financial
results has been subjected to limited review by the Company Statutory
Auditors.
2. The company has adopted Indian Accounting Standards (Ind As) from 1st April, 2017 (Date of transition being April 1, 2016) and these financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 "Interim Financial Reporting" prescribed under section 13 of the Companies Act, 2013 read with relevant rules issued there under and the under accounting principles generally accepted in India.
3. The financial results and other financial information for the Nine months ended
December 31, 2017 has been compiled by the management as per the Ind AS after
exercising necessary due diligence to ensure that the financial results provide
true and fair view of the results in accordance with Ind AS.
4. The Government of India introduced the Goods and Service Tax (GST) with
effect from July 1, 2017. GST is collected on behalf of the Government and no
economic benefit flows to the entity and does not result in an increase in
equity capital, consequently revenue for the quarter ended December 31, 2017 is
presented net of GST. Sales of earlier period included excise duty which now is
subsumed in GST. The Nine Months ended December 31, 2017 includes excise duty
up to June 30, 2017. Accordingly the related figures for the quarter and Nine
months not comparable with the previous year presented in the results.
5. There is a possibility that these quarterly financial results may require
adjustment before constituting the final Ind AS financial statements as of and
for the year ending March 31, 2018 due to changes in financial reporting
requirements arising from new or revised standards or interpretations issued by
MCA or changes in the use of one or more optional exemptions from full
retrospective application as permitted under Ind AS 101.
6. Net profit for the quarter and Nine Months ended December 2016 is excluding
the Solar Power Unit which was demerged in the Financial Year 2016-17 with
effect from 01-04-2016.
7. Figures of Previous period have been regrouped/reclassified wherever necessary
to make them Ind AS compliance and comparable with the figures of the current
period.
FIXED ASSETS
- Free Hold Land
- Lease Hold Land
- Buildings
- Plant and Machinery
- Electrical Installations
- Office Equipment
- Vehicles
- Furniture Fixtures
- Computers Library
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 67.52 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRUP |
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.