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|
MIRA INFORM REPORT
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Report No. : |
510237 |
|
Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
EVEREST INDUSTRIES LIMITED |
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|
|
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Registered
Office : |
Gat No.152, Lakhmapur, Taluka Dindori, Nashik – 422202, Maharashtra |
|
Tel. No.: |
91-2557-250375 |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
03.04.1934 |
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|
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Com. Reg. No.: |
11-002093 |
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Capital
Investment / Paid-up Capital : |
INR 156.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74999MH1934PLC002093 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0588095656 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACE7550N1ZA |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAACE7550N |
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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 manufacturing and trading of building products like roofing products, boards and panels, other building products and accessories and manufacturing and erection of pre-engineered steel buildings and related accessories. [Registered Activity] |
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|
|
|
No. of Employees
(As on 31.03.2017): |
1591 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Everest Industries Limited is engaged in manufacturing and trading of building products like roofing products, boards and panels, other building products and accessories and manufacturing and erection of pre-engineered steel buildings and related accessories. The company was incorporated in the year 1934 and is based in Maharashtra.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating – A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
05.02.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating – A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
05.02.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 21.05.2018.
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- 9958037777)
91-2557-250304 (Continuously Ringing)
LOCATIONS
|
Registered Office/ Factory: |
Gat No. 152, Lakhmapur, Taluka Dindori, Nashik – 422202, Maharashtra,
India |
|
Tel. No.: |
91-2557-250375/ 462 |
|
Fax No.: |
91-2557-250376 |
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E-Mail : |
|
|
Website : |
|
|
|
|
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Corporate Office 1: |
Everest Technologies, D-206, Sector -63, Noida – 201301, Uttar
Pradesh, India |
|
Tel. No.: |
91-120-4791800 |
|
|
|
|
Head/ Corporate Office 2: |
G-1, Genesis, A-32, Mohan Co-operative Industrial Estate, Mathura
Road, New Delhi – 110044, India |
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Tel. No.: |
91-11-41731951/ 52 |
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Fax No.: |
91-11-46566370 |
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E-Mail : |
|
|
|
|
|
Factory : |
·
Kymore Works Everest Nagar, Post Office Kymore, District Katni – 438880, Madhya
Pradesh, India ·
Kolkata Works ‘Everest House’ 1, Taratola Road, Garden Reach, Kolkata – 700024, West
Bengal, India ·
Podanur Works Podanur Post Office, Coimbatore – 641023, Tamilnadu, India ·
Bhagwanpur Works Khasra Nos.158 and 159, Village Lakesari, Pargana Bhagwanpur, Tehsil
Roorkee, District Haridwar – 247661, Uttarakhand, India ·
Somnathpur Works Z5, IID Centre, Somnathpur, Tehsil Remuna, District. Baleshwar –
756019, Odisha, India ·
Ranchi Works Sarwal Namkum, Opposite Tola – Charna Bera Ranchi – 834010, Jharkhand,
India |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Manish Sanghi |
|
Designation : |
Managing Director |
|
Address : |
121, Engineers Estate, 21 IP Extension Patpar Ganj, Delhi - 110092, India |
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Date of Birth/Age : |
04.02.1963 |
|
Experience : |
30 years |
|
Date of Appointment : |
08.07.2002 |
|
DIN No.: |
00088527 |
|
|
|
|
Name : |
Mr. Amitabh Das Mundhra |
|
Designation : |
Director |
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Address : |
27, Shakespearre Sarani, Kolkata – 700017, West Bengal,
India |
|
Date of Appointment : |
21.06.2010 |
|
DIN No.: |
00014227 |
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|
|
|
Name : |
Mr. Bhanwarlal Jivanmal Taparia |
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Designation : |
Director |
|
Address : |
301,Saraswati Darshan , Link Road, Bangurnagar ,Goregaon
(West), Mumbai - 400090 Maharashtra, India |
|
Date of Appointment : |
10.05.2013 |
|
DIN No.: |
00016551 |
|
|
|
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Name : |
Mr. Adityavikram Ramesh Somani |
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Designation : |
Whole-time Director |
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Address : |
706, Dalamal Towers, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Date of Birth/Age : |
04.11.1973 |
|
Experience : |
25 years |
|
Date of Appointment : |
07.11.2005 |
|
DIN No.: |
00046286 |
|
|
|
|
Name : |
Mr. Murari Lal Gupta |
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Designation : |
Director |
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Address : |
G-9.C, Kamlayan Kabir Marg, Bani Park, Jaipur – 302016,
Rajasthan, India |
|
Date of Birth/Age : |
03.02.1941 |
|
Experience : |
53 years |
|
Date of Appointment : |
08.07.2002 |
|
DIN No.: |
00088685 |
|
|
|
|
Name : |
Ms. Bhavna Gautam Doshi |
|
Designation : |
Director |
|
Address : |
Flat C - 191, Grand Paradi, August Kranti Road, Kemps Corner, Mumbai - 400036, Maharashtra, India |
|
Date of Appointment : |
25.10.2013 |
|
DIN No.: |
00400508 |
|
|
|
|
Name : |
Mr. Srinivasa Rao Yenduri |
|
Designation : |
Whole-Time Director |
|
Address : |
E-11, Block-E, Green Park Main, Delhi - 110016, India |
|
Date of Appointment : |
28.07.2007 |
|
DIN No.: |
01289086 |
KEY EXECUTIVES
|
Name : |
Mr. Nikhil Dujari |
|
Designation : |
Chief Financial Officer |
|
Address : |
623, Sector-37 Faridabad -121003, Haryana, India |
|
Date of Appointment : |
02.12.2016 |
|
PAN No.: |
AFRPD0431J |
|
|
|
|
Name : |
Mr. Neeraj Kohli |
|
Designation : |
Company Secretary |
|
Address : |
7/13, East Punjabi Bagh, New Delhi – 110026, India |
|
Date of Appointment : |
20.11.2007 |
|
PAN No.: |
AAAPK4379E |
|
|
|
|
Name : |
Mr. Sarvan Shukla |
|
Designation : |
Regional Head |
SHAREHOLDING PATTERN
As On MARCH 2018
|
Category of
shareholder |
Total Nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957) As a % |
|
|
(A) Promoter & Promoter Group |
7520470 |
48.13 |
|
|
(B) Public |
8105690 |
51.87 |
|
|
Grand Total |
15626160 |
100.00 |
STATEMENT SHOWING
SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP
|
Category of
shareholder |
Total Nos.
shares held |
Shareholding as a
% of total no. of shares (calculated as per SCRR 1957) As a % |
|
|
A1) Indian |
|
||
|
Any Other (specify) |
7520470 |
48.13 |
|
|
FALAK INVESTMENT PRIVATE LTD |
7383470 |
47.25 |
|
|
TRAPU CANS PRIVATE LIMITED |
137000 |
0.88 |
|
|
Sub Total A1 |
7520470 |
48.13 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
7520470 |
48.13 |
|
Category &
Name of the Shareholders |
No. of fully
paid up equity shares held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
461318 |
2.95 |
|
|
HDFC SMALL CAP FUND |
411860 |
2.64 |
|
|
Foreign Portfolio Investors |
270776 |
1.73 |
|
|
Financial Institutions/ Banks |
4258 |
0.03 |
|
|
Insurance Companies |
187 |
0.00 |
|
|
Sub Total B1 |
736539 |
4.71 |
|
|
B2) Central Government/ State
Government(s)/ President of India |
0 |
0.00 |
|
|
Central Government/ State
Government(s)/ President of India |
25970 |
0.17 |
|
|
Sub Total B2 |
25970 |
0.17 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share capital upto
INR 0.200 Million |
3823027 |
24.47 |
|
|
Individual share capital
in excess of INR 0.200 Million |
1598111 |
10.23 |
|
|
RAJ KUMAR MITTAL |
191353 |
1.22 |
|
|
VIJAY KISHANLAL KEDIA |
610113 |
3.90 |
|
|
NBFCs registered with RBI |
45 |
0.00 |
|
|
Any Other (specify) |
1921998 |
12.30 |
|
|
Bodies Corporate |
1750027 |
11.20 |
|
|
ICICI LOMBARD GENERAL INSURANCE
COMPANY LT |
790981 |
5.06 |
|
|
Non-Resident Indian (NRI) |
171371 |
1.10 |
|
|
Trusts |
600 |
0.00 |
|
|
Sub Total B3 |
7343181 |
46.99 |
|
|
B=B1+B2+B3 |
8105690 |
51.87 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and trading of building products like roofing products, boards and panels, other building products and accessories and manufacturing and erection of pre-engineered steel buildings and related accessories. [Registered Activity] |
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Products : |
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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 (As on 31.03.2017): |
1591 (Approximately) |
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Bankers (As on 31.03.2017): |
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Facilities : |
LONG TERM
BORROWINGS External Commercial Borrowing (ECB) from DBS Bank Limited of INR 41.280 Million (previous year INR 206.400 Million) is secured by first pari-passu charges on all the movable fixed assets located at Kolkata, Kymore, Podanur, Lakhmpaur and Bhagwanpur and immoveable fixed assets situated at Kymore, Lakhmapur and Bhagwanpur and second pari passu charge over entire current assets. The ECB is repayable in 15 quarterly instalments of USD 800,000 each; the last instalment is due in April 2017. The rate of interest is Libor + 2.75% per annum. External Commercial Borrowing (ECB) from Axis Bank Limited of INR 663.329 Million (previous year INR 663.329 Million) is secured by first pari-passu charges on all the movable fixed assets situated at Kolkata, Kymore, Podanur, Lakhmpaur and Bhagwanpur and immovebale fixed assets located at Kymore, Bhagwanpur and Lakhmapur and pledge of shares held in subsidary. The ECB is repayable in 24 quarterly instalments; the last instalment is due in December 2022. The rate of interest is 3 months Libor + 4.00% per annum. Term Loan from HDFC Bank Limited of INR 112.457 Million (previous year INR 153.350 Million) is secured by exclusive charge over the immovable property situated at Noida. The loan is repayable in 20 quarterly instalments of INR 10.223 Million each; the last instalment is due in November 2018. The rate of interest is banks base rate + 1.30% per annum. Working Capital Term Loan from ICICI Bank Limited of INR 450.000 Million (previous year INR Nil) to be secured by exclusive charge over the immovable and movable property situated at Dahej. The loan is repayable in 15 quarterly instalments of INR 30.000 Million the last instalment is due in December 2020. The rate of interest is banks base rate + 1.35% per annum. SHORT TERM
BORROWINGS Loans from banks are secured by a first pari-passu charge
by way of hypothecation of stocks, present and future, book debts and
receivables, first pari-passu charge on land and building situated at Podanur,
second pari-passu charges on all movable fixed assets situated at Kymore,
Podanur, Kolkata, Lakhmapur and Bhagwanpur and second paripasu charges on
land and building situated at Kymore, Lakhmapur and Bhagwanpur. |
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View Corporate Tower- B, Sector – 42, Secotr Road, Gurugram – 122002, Haryana, India |
|
Tel. No: |
91-124-4644000 |
|
Fax. No: |
91-124-4644050 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary
companies (As on 31.03.2017): |
|
|
|
|
|
Enterprise
exercising significant influence (As on 31.03.2017): |
Falak Investment Private Limited |
CAPITAL STRUCTURE
After 26.07.2017
Authorised Capital : INR 170.000 million
Issued, Subscribed & Paid-up Capital : INR 156.262
million
AS ON 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 156.300 million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
INR 10/- each |
INR 170.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15422910 |
Equity Shares |
INR 10/- each |
INR 154.229 Million |
|
|
|
|
|
Note:
Of the above:
15000 (previous year 15000) equity shares were allotted as fully paid up pursuant to a contract without payment being received in cash 13350020 (previous year 13350,020) equity shares were allotted as fully paid up by way of bonus shares by capitalisation of general reserve The Company has one class of equity shares having a par value of INR 10 each. Each shareholder is eligible for one vote per share held.
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
156.300 |
154.229 |
153.889 |
|
(b) Reserves &
Surplus |
3813.400 |
3349.109 |
3320.554 |
|
(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) |
3969.700 |
3503.338 |
3474.443 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
511.400 |
916.927 |
1182.394 |
|
(b) Deferred tax
liabilities (Net) |
287.400 |
312.421 |
322.635 |
|
(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) |
798.800 |
1229.348 |
1505.029 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
257.800 |
883.525 |
1124.976 |
|
(b) Trade payables |
1502.300 |
1697.609 |
1729.360 |
|
(c) Other current
liabilities |
52.200 |
1145.615 |
1160.878 |
|
(d) Short-term provisions |
1325.700 |
53.950 |
269.175 |
|
Total Current Liabilities
(4) |
3138.000 |
3780.699 |
4284.389 |
|
|
|
|
|
|
TOTAL |
7906.500 |
8513.385 |
9263.861 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3384.600 |
3359.142 |
3472.053 |
|
(ii) Intangible Assets |
21.000 |
7.897 |
24.924 |
|
(iii) Capital
work-in-progress |
205.400 |
46.991 |
18.244 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4.200 |
278.663 |
278.663 |
|
(c) Deferred tax assets
(net) |
364.900 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
466.844 |
531.448 |
|
(e) Other Non-current
assets |
161.500 |
1.453 |
32.407 |
|
Total Non-Current Assets |
4141.600 |
4160.990 |
4357.739 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2475.400 |
2369.276 |
2525.269 |
|
(c) Trade receivables |
660.500 |
1048.900 |
1131.105 |
|
(d) Cash and cash
equivalents |
196.900 |
158.093 |
521.118 |
|
(e) Short-term loans and
advances |
0.000 |
741.000 |
719.969 |
|
(f) Other current assets |
432.100 |
35.126 |
8.661 |
|
Total Current Assets |
3764.900 |
4352.395 |
4906.122 |
|
|
|
|
|
|
TOTAL |
7906.500 |
8513.385 |
9263.861 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
12712.400 |
11553.764 |
13133.563 |
|
|
Other Income |
73.600 |
90.597 |
129.038 |
|
|
TOTAL |
12786.000 |
11644.361 |
13262.601 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
7106.100 |
6247.826 |
7004.404 |
|
|
Purchases of
Stock-in-Trade |
177.900 |
152.130 |
123.453 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(176.400) |
100.093 |
194.869 |
|
|
Employees benefits
expense |
1072.600 |
1281.161 |
1270.982 |
|
|
Excise Duty |
263.900 |
0.000 |
0.000 |
|
|
Exceptional |
16.500 |
0.000 |
0.000 |
|
|
Other expenses |
3352.900 |
3400.878 |
3670.720 |
|
|
TOTAL |
11813.500 |
11182.088 |
12264.428 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
972.500 |
462.273 |
998.173 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
125.900 |
188.953 |
228.447 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
846.600 |
273.320 |
769.726 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
235.500 |
248.836 |
256.270 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
611.100 |
24.484 |
513.456 |
|
|
|
|
|
|
|
Less |
TAX |
104.300 |
(0.120) |
160.392 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
506.800 |
24.604 |
353.064 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1830.248 |
2269.479 |
2045.569 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer
to General Reserve |
NA |
0.000 |
36.000 |
|
|
Dividends
proposed to be distributed to equity shareholders |
NA |
0.000 |
77.167 |
|
|
Tax
on Dividend |
NA |
0.000 |
15.987 |
|
|
Balance Carried to the
B/S |
NA |
2294.083 |
2269.479 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
356.556 |
612.533 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
FOB
value of goods exported |
NA |
1989.047 |
2147.306 |
|
|
Components
and Stores parts |
NA |
43.558 |
24.582 |
|
|
Capital
Goods |
NA |
0.000 |
0.000 |
|
|
Stores
and spares |
|
9.321 |
21.144 |
|
|
TOTAL IMPORTS |
NA |
2041.926 |
2193.032 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
33.54 |
1.60 |
23.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
182.170 |
249.792 |
|
Cash generated from operations |
NA |
676.796 |
1053.231 |
|
Net cash flow from (used in) operations |
NA |
608.414 |
967.626 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors /Income * 365 Days) |
18.96 |
33.14 |
31.43 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
19.25 |
11.02 |
11.61 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
75.28 |
96.82 |
88.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.39 |
0.20 |
0.40 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.27 |
0.14 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.46 |
0.55 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.19 |
0.51 |
0.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.79 |
1.08 |
1.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.91 |
0.97 |
1.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
7.72 |
2.45 |
4.37 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
PAT to Sales [(PAT/Sales) * 100) |
% |
3.99 |
0.21 |
2.69 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.41 |
0.29 |
3.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
12.77 |
0.70 |
10.16 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.20 |
1.15 |
1.15 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.41 |
0.52 |
0.56 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.50 |
0.41 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.92 |
11.67 |
14.99 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.20 |
1.15 |
1.15 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
Market Value |
INR 483/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
153.889 |
154.229 |
156.300 |
|
Reserves & Surplus |
3320.554 |
3349.109 |
3813.400 |
|
Net
worth |
3474.443 |
3503.338 |
3969.700 |
|
|
|
|
|
|
Long Term borrowings |
1182.394 |
916.927 |
511.400 |
|
Short Term borrowings |
1124.976 |
883.525 |
257.800 |
|
Total
borrowings |
2307.370 |
1800.452 |
769.200 |
|
Debt/Equity
ratio |
0.664 |
0.514 |
0.194 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
13133.563 |
11553.764 |
12712.400 |
|
|
|
(12.029) |
10.028 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
13133.563 |
11553.764 |
12712.400 |
|
Profit |
353.064 |
24.604 |
506.800 |
|
|
2.69% |
0.21% |
3.99% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
156.300 |
154.229 |
|
(b) Reserves &
Surplus |
3824.400 |
3327.159 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
d) Minority Interest |
0.000 |
1.884 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
3980.700 |
3483.272 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
511.400 |
916.927 |
|
(b) Deferred tax
liabilities (Net) |
287.400 |
312.421 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
798.800 |
1229.348 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
257.800 |
883.525 |
|
(b) Trade payables |
1578.100 |
1745.556 |
|
(c) Other current
liabilities |
1353.800 |
1165.085 |
|
(d) Short-term provisions |
52.200 |
55.168 |
|
Total Current Liabilities
(4) |
3241.900 |
3849.334 |
|
|
|
|
|
TOTAL |
8021.400 |
8561.954 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
3384.600 |
3364.847 |
|
(ii) Intangible Assets |
21.000 |
7.897 |
|
(iii) Capital
work-in-progress |
205.400 |
262.888 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
365.200 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
478.057 |
|
(e) Other Non-current
assets |
161.600 |
1.453 |
|
Total Non-Current Assets |
4137.800 |
4115.142 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
2475.400 |
2370.802 |
|
(c) Trade receivables |
706.200 |
1078.572 |
|
(d) Cash and cash
equivalents |
229.800 |
184.178 |
|
(e) Short-term loans and
advances |
0.000 |
778.134 |
|
(f) Other current assets |
472.200 |
35.126 |
|
Total Current Assets |
3883.600 |
4446.812 |
|
|
|
|
|
TOTAL |
8021.400 |
8561.954 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
Income |
12969.000 |
11679.604 |
|
|
Other Income |
100.400 |
90.803 |
|
|
TOTAL |
13069.400 |
11770.407 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
7106.100 |
6247.826 |
|
|
Purchases of
Stock-in-Trade |
180.300 |
153.962 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(174.900) |
98.567 |
|
|
Employees benefits
expense |
1081.700 |
1287.577 |
|
|
Excise Duty |
263.900 |
0.000 |
|
|
Other expenses |
3612.800 |
3528.801 |
|
|
TOTAL |
12069.900 |
11316.733 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
999.500 |
453.674 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
125.900 |
188.953 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
873.600 |
264.721 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
235.500 |
251.360 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
638.100 |
13.361 |
|
|
|
|
|
|
Less |
TAX |
407.500 |
0.991 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
230.600 |
12.370 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
35.08 |
0.80 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners / Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
CORPORATE INFORMATION
(As on 31.03.2017)
Subject is engaged in manufacturing and trading of building products like roofing products, boards and panels, other building products and accessories and manufacturing and erection of pre-engineered steel buildings and related accessories.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G62864939 |
100134426 |
KOTAK MAHINDRA BANK LIMITED |
10/11/2017 |
- |
- |
450000000.0 |
1st Floor, Asset Area 9, IBIS Commercial BlockHospitalitiy Dist, Delhi AerocityNew DelhiDL110037IN |
|
2 |
C63698682 |
10532294 |
Axis Bank Limited |
21/11/2014 |
31/07/2015 |
- |
620000000.0 |
(As Security Agent) 2ND FLOOR, RED FORT CAPITAL,PARSVNATH TOWERS,GOLE MARKET,BHAI VEER SINGH MARG,NEW DELHIDL110001IN |
|
3 |
G38357505 |
10303259 |
KOTAK MAHINDRA BANK LIMITED |
01/08/2011 |
16/12/2016 |
- |
920000000.0 |
KOTAK AEROCITY, 1ST FLOOR, ASSET AREA 9,IBIS COMMERCIAL BLOCK, HOSPITALITY DISTRICTNEW DELHIDL110037IN |
|
4 |
G50883446 |
10133157 |
HDFC BANK LIMITED |
05/11/2008 |
16/12/2016 |
- |
1100000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
C78939410 |
10127596 |
ICICI BANK LTD. |
18/10/2008 |
31/07/2015 |
- |
980000000.0 |
LANDMARK, RACE COURSE CIRCLE,ALKAPURI,BARODAGJ390015IN |
|
6 |
G34506816 |
10080917 |
ICICI BANK LTD. |
10/12/2007 |
16/12/2016 |
- |
1180000000.0 |
LANDMARK, RACE COURSE CIRCLE,ALKAPURI,BARODAGJ390007IN |
|
7 |
G38763785 |
10011604 |
AXIS BANK LTD. |
07/07/2006 |
16/12/2016 |
- |
600000000.0 |
2ND FLOOR, RED FORT CAPITAL, PARSVNATH TOWERS,GOLE MARKET, BHAI VEER SINGH MARG,NEW DELHIDL110001IN |
|
8 |
G80334527 |
80014472 |
STATE BANK OF INDIA |
21/03/1991 |
13/12/2017 |
- |
500000000.0 |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN,1, TOLSTOY MARGNEW DELHIDL110001IN |
|
9 |
G76699743 |
10369338 |
DBS BANK LTD. |
20/06/2012 |
20/06/2016 |
08/02/2018 |
350000000.0 |
CAPITAL POINT, BABA KHARAK SINGH MARGCONNAUGHT PLACE,NEW DELHIDL110001IN |
|
10 |
G69777431 |
100042575 |
HDFC BANK LIMITED |
20/06/2016 |
- |
04/12/2017 |
150000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
CONTINGENT LIABILITIES:
(INR in Million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
Claims against the
Company not acknowledged as liabilities in respect of: |
|
|
|
Sales tax matters |
NA |
201.369 |
|
Excise and service tax matters |
NA |
327.654 |
|
Income tax matters |
NA |
200.124 |
|
Total |
NA |
729.147 |
FIXED ASSETS:
·
Land (Freehold /
Leasehold)
·
Building (On Freehold
Land)
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment’s
·
Leasehold
Improvements
·
Roads
·
Computer Software
Technical Knowhow
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 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
RBY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
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.