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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

510296

Report Date :

20.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED

 

 

Registered Office :

Nevill House, J N Heredia Marg, Ballard Estate, Mumbai – 400001, Maharashtra

Tel. No.:

91-22-22618071

 

 

Country :

India

 

 

Financials (as on) :

31.03.2018

 

 

Date of Incorporation :

23.08.1879

 

 

Com. Reg. No.:

11-000037

 

 

Capital Investment / Paid-up Capital :

INR 413.100 Million

 

 

CIN No.:

[Company Identification No.]

L17120MH1879PLC000037

 

 

IEC No.:

[Import-Export Code No.]

0388028394

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACT2328K1ZB

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

TIN No.:

27190356949

 

 

PAN No.:

[Permanent Account No.]

AAACT2328K

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges

 

 

Line of Business :

Manufacturer of Textile, Polyester Staple Fibre (PSF) and also in Real Estate business. [Registered Activity]

 

 

No. of Employees :

726 (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

 

Maximum Credit Limit :

USD 36150000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1879 and it has evolved as a textile major and also forayed into real estate in FY 2006. The company is a part of the well-known ‘Wadia Group’ which has significant presence across various industries which includes food and diary, airline, textile, real estate, chemical and clinical research.

 

As per financials of March 2017, the company has registered a decline in its revenue as compared to its previous year’s revenue and has reported average profit margin of 2.44%.

 

Rating takes into consideration the company’s long established track record of business operations marked by sound net worth base along with average debt coverage indicators and good liquidity position.

 

Rating continue to reflect strength from strong brand equity, strong distribution networks with over 300 excusive and more than 2000 multi brand stores.

 

Rating also takes into account the company’s decent land bank at Mumbai and the company has successfully delivered a residential and commercial development in the recent past.

 

Share are quoted high on Stock Exchange (Share are traced at a price of INR 267.30 against its face value of INR 2).

 

However, rating strength is partially offset by overall subdued performance of the company along with volatility in raw material prices of polyester staple fibers due to its linkages to crude oil prices and strong competition in home textile segment.

 

As per unaudited quarterly financial of December 2017, the company has achieved a revenue of INR 6330.800 million and has reported minimal profit margin of 0.97%.

 

Payments seems to be regular.

 

In view of aforesaid, the company can be considered good 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

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

INDIA RATING

Rating

Long Term Rating = BBB+ (Suspended)

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

15.12.2017

 

Reason for suspension: Due to lack of adequate information

 

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 31-03-2016.

 

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 01.03.2018.

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

 

INFORMATION DENIED

 

MANAGEMENT NON-COOPERATIVE (Tel No.: 91-22-22618071)

 

 

LOCATIONS

 

Registered Office :

Nevill House, J N Heredia Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-66620000 / 22618071 / 4520 / 22693712 / 22655014 / 22657895

Fax No.:

91-22-22615622 / 22655014 / 22614520 / 22653530

E-Mail :

bomdyein.bdmc@gems.vsnl.net.in

raja.s@bombaydyeing.com

narayan.venkat@bombaydyeing.com

Website :

http://www.bombaydyeing.com

 

 

Administrative / Corporate Office:

C-1, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India

Tel. No.:

91-22-66620000 

Fax No.:

91-22-66620004/66193262

E-Mail :

grievance_redressal_cell@bombaydyeing.com

Website :

www.bombaydyeing.com

 

 

Factory 1 :

A/1, M.I.D.C. Industrial Area P.O. Patalganga, Dist. Raigad - 410220, Maharashtra, India

Tel. No.:

91-2192-258301

Fax No.:

91-2192-250263

 

 

Factory 2 :

Textile Processing Unit

B-28, MIDC Industrial Area, Ranjangaon, Taluka Shirur, District Pune - 412220, Maharashtra, India

Tel. No.:

91-21-38232700 / 38232800

Fax No.:

91-21-38232600

 

 

Regional Sales Offices:

Located At

 

  • Mumbai 
  • Ludhiana
  • Delhi
  • Madurai 
  • Coimbatore 

 

 

DIRECTORS

 

AS ON 2018

 

Name :

Mr. Nusli Neville Wadia

Designation :

Chairman

Address :

Beach House P. Balu Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India

Date of Appointment :

04.04.1968

DIN No.:

00015731

 

 

Name :

Mr. Jehangir Nusli Wadia

Designation :

Managing Director

Address :

Beach House P Balu Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India

Date of Appointment :

01.06.2010

DIN No.:

00088831

 

 

Name :

Mr. Rajendra Ambalal Shah

Designation :

Director

Address :

Panorama, 2nd Floor 203, Walkeshwar Road, Mumbai - 400006, Maharashtra, India

Date of Appointment :

04.12.1979

DIN No.:

00009851

 

 

Name :

Mr. Sukant Sadashiv Kelkar

Designation :

Director

Address :

No. 1, Sindhula, N. Gamadia Road, Mumbai - 400026, Maharashtra, India

Date of Appointment :

29.08.1994

DIN No.:

00015883

 

 

Name :

Mr. Sam Maneckshaw Palia

Designation :

Director

Address :

16, Ruchir Bungalows, Vastrapur, Beyond Sarathi Hotel, Ahmedabad - 380054, Gujarat, India

Date of Appointment :

30.05.2006

DIN No.:

00031145

 

 

Name :

Mr. Ness Nusli Wadia

Designation :

Director

Address :

Beach House, P. Balu Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India

Date of Appointment :

01.04.2011

DIN No.:

00036049

 

 

Name :

Mr. Ragothaman Sethumadhava Rao

Designation :

Director

Address :

C-3, Golden Gate Apartments, New No:33 Habibullah Road, T. Nagar, Chennai - 600017, Tamilnadu, India

Date of Appointment :

08.09.1995

DIN No.:

00042395

 

 

Name :

Mr. Anilkumar Jewraj Hirjee

Designation :

Director

Address :

Flat No.9 Battery House, 74-A Bhulabhai Desia Road, Mumbai – 400026, Maharashtra, India

Date of Appointment :

28.05.2001

DIN No.:

00044765

 

 

Name :

Mr. Vinesh Kumar Jairath

Designation :

Director

Address :

194-B, Kalpataru Horizon, S.K. Ahire Marg, Worli, Mumbai-400018, Maharashtra, India

Date of Appointment :

09.02.2017

DIN No.:

00391684

 

 

Name :

Mr. Keki Manchersha Elavia

Designation :

Director

Address :

2A Anand Bhavan, 36th Road, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Appointment :

22.05.2017

DIN No.:

00003940

 

 

Name :

Ms. Minnie Bodhanwala

Designation :

Director

Address :

12, Jeevanjyot Society, Lalbaug Road, Vadodara-390004, Gujarat, India

Date of Appointment :

29.03.2017

DIN No.:

00422067

 

 

Name :

Mr. Ishaat Hussain

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Sanjive Inder Arora

Designation :

Company Secretary

Address :

709/710 Magnum Tower, 2nd Cross Lane, Lokhandwala Complex, Andheri (West), Mumbai - 400053,  Maharashtra, India

Date of Appointment :

11.07.2016

PAN No.:

ACRPA4515D

 

 

Name :

Vishnu Sundararajan Peruvemba

Designation :

Chief Financial Officer

Address :

204/19, Sohna Road, Orchid Petals, Sector 49, South City II, Gurugram-122018, Haryana, India

Date of Appointment :

05.01.2018

PAN No.:

ALAPS3550J

 

 

Name :

Ms. Puspamitra Das

Designation :

Chief Financial Officer

 

 

Name :

Mr. Nagesh Rajanna

Designation :

Chief executive officers (Retail)

 

 

Name :

Mr. Suresh Khurana

Designation :

Chief executive officers (PSF)

 

 

Name :

Mr. Gaurav Jain

Designation :

Chief executive officers (Bombay Realty)

 

 

SHAREHOLDING PATTERN

 

AS ON DECEMBER 2018

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2)

(A) Promoter & Promoter Group

11,08,62,618

53.69

 

(B) Public

9,56,32,857

46.31

 

Grand Total

20,65,34,900

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 % of (A+B+C2)

A1) Indian

0.00

 

Individuals/Hindu undivided Family

20,84,953

1.01

 

Ness Nusli Wadia

12,19,418

0.59

 

Jehangir Nusli Wadia

2,87,525

0.14

 

Maureen Nusli Wadia

5,78,010

0.28

 

Any Other (Specify)

4,53,90,315

21.98

 

Dpi Products And Services Limited

2,64,900

0.13

 

Wadia Techno Engineering Services Limited

1,95,460

0.09

 

Wadia Investments Limited

4,19,750

0.20

 

Heera Holdings And Leasing Private Limited

1,52,103

0.07

 

Havenkores Real Estates Private Limited

2,68,672

0.13

 

Lotus Viniyog Limited

1,44,690

0.07

 

Macrofil Investments Limited

4,09,700

0.20

 

Nowrosjee Wadia And Sons Limited

73,65,293

3.57

 

Naperol Investments Limited

4,06,200

0.20

 

Nidhivan Investments And Trading Co Private Limited

3,30,108

0.16

 

Nessville Trading Private Limited

24,550

0.01

 

The Bombay Burmah Trading Corporation Limited

3,15,50,713

15.28

 

Nusli Neville Wadia, Diana Claire Trust

1,80,530

0.09

 

Nusli Neville Wadia , Trustees Of Jer Mavis Settlement No.Ii

14,49,750

0.70

 

Nusli Neville Wadia, Nusli Neville Wadia Trust

1,37,000

0.07

 

Afco Industrial And Chemicals Limited

59,660

0.03

 

National Peroxide Limited

14,89,700

0.72

 

Go Airlines (India) Limited

1,000

0.00

 

Go Investments And Trading Private Limited

500

0.00

 

Sahara Investments Private Limited

5,40,036

0.26

 

Sub Total A1

4,74,75,268

22.99

 

A2) Foreign

0.00

 

Individuals (NonResident Individuals/ Foreign Individuals)

28,01,560

1.36

 

Diana Claire Wadia

13,83,810

0.67

 

Estate Of Smt Bachoobai Woronzow .

8,14,030

0.39

 

Dina Neville Wadia

6,03,220

0.29

 

N N Wadia Admin Of Estate Of Lt Ef Dinshaw

500

0.00

 

Any Other (Specify)

6,05,85,790

29.34

 

Ben Nevis Investments Limited

1,02,83,790

4.98

 

Newpoint Enterprises Limited

2,50,000

0.12

 

Baymanco Investments Limited

4,73,12,000

22.91

Naira Holdings

27,40,000

1.33

 

Sub Total A2

6,33,87,350

30.70

 

A=A1+A2

11,08,62,618

53.69

 

 

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 (A+B+C2)

B1) Institutions

0.00

 

Mutual Funds/

12,120

0.01

 

Foreign Portfolio Investors

56,40,640

2.73

 

Societe Generale

22,00,000

1.07

 

Financial Institutions/ Banks

15,91,277

0.77

 

Insurance Companies

78,19,349

3.79

 

Life Insurance Corporation of India

66,18,784

3.21

 

Any Other (specify)

7,93,289

0.38

 

Foreign Institutional Investor

7,93,289

0.38

 

Sub Total B1

1,58,56,675

7.68

 

B2) Central Government/ State Government(s)/ President of India

0.00

 

B3) Non-Institutions

0.00

 

Individual share capital upto INR 0.200 Million

3,87,77,959

18.78

 

Individual share capital in excess of INR 0.200 Million

1,37,18,440

6.64

 

Chinappa M B

22,99,196

1.11

 

Lakshit Bansal

22,80,000

1.10

 

NBFCs registered with RBI

8,36,601

0.41

 

Any Other (specify)

2,64,43,182

12.81

 

Trusts

1,31,495

0.06

 

Non-Resident Indian (NRI)

9,78,169

0.47

 

Clearing Members

10,93,983

0.53

 

Nri Non-Repatriation

5,56,540

0.27

 

Bodies Corporate

2,28,72,361

11.08

 

Globe Capital Market Limited

20,85,166

1.01

 

India Infoline Limited

26,68,596

1.29

 

IEPF

7,91,907

0.38

 

Enemy Property

18,300

0.01

 

Foreign Nationals

427

0.00

 

Sub Total B3

7,97,76,182

38.63

 

B=B1+B2+B3

9,56,32,857

46.31

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Textile, Polyester Staple Fibre (PSF) and also in Real Estate business. [Registered Activity]

 

 

Products / Services :

NIC Code

Product/ Services Description

20302

Polyster Staple Fibre

4751

Retail of Home Textiles

6810

Real estate activities

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

Customers :

 

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

 

No. of Employees :

726 (Approximately)

 

 

Bankers :

Bank Name

Bank of Baroda

Branch

Corporate Financial Service, 3rd Floor, 10/12, Mumbai Samachar Marg, Fort, Mumbai-400001, Maharashtra, India

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

  • Kotak Mahindra Bank Limited, 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

from banks

10997.900

13300.300

from others

2216.700

2002.000

Less: Current maturities of long-term debt

3891.600

3923.500

 

 

 

SHORT TERM BORROWINGS

 

 

Short Term loans from banks

709.300

0.000

Working capital demand loans from banks

1043.800

2375.800

Packing credit from bank

928.100

1663.400

Buyer's Credit in Foreign currency

727.500

764.400

Inter corporate deposits

1900.000

0.000

Total

14631.700

16182.400

 

NOTE:

 

LONG TERM BORROWINGS

 

a) Nature of Security and terms of repayment of secured borrowing:

 

i) Term loans aggregating INR 2515.500 million (2015-16 INR 4072.000 million) are secured by first / secondary pari-passu charge over the part of land of the Company at Textile Mills at Mumbai and plant and machinery, buildings and structure thereon. Repayable in quarterly instalments over the next year.

 

ii) Term loan amounting to INR 600.000 million (2015-16 INR 1080.000 million) is secured by first pari-passu charge on Company’s plant and machinery at Textile Processing Unit at Ranjangaon and the Polyester Division at Patalganga and first pari-passu charge of portion of Spring Mills land and buildings and structure thereon. Repayable in monthly instalments over the next one year.

 

iii) Term loan amounting to INR 171.000 million (2015-16 INR 264.000 million) is secured by first pari-passu charge of rent receivables from premises given on lease by the Company and second charge of portion of Spring Mills land and buildings and structures thereon. Repayable in monthly instalments over the remaining 2 years.

 

iv) Term loan amounting to INR 3616.400 million (2015-16 INR 3423.200 million) are secured by first pari-passu charge over part of land of the Company at Worli. Repayable over 2 to 3 years in quarterly instalments with a bullet payment of INR 1000.000 million in 01st July, 2018.

 

v) Term loans amounting to INR 6311.700 million (2015-16 INR 5718.700 million) are secured by first pari-passu charge / escrow of receivables of One ICC and Two ICC Tower at Spring Mills, Dadar and first pari-passu charge over part of land of the Company at Textile Mills at Mumbai and buildings and structures thereon. Repayable in quarterly instalments over a period of 3 to 4 years.

 

vi) Term Loans aggregating INR Nil million (2015-16 INR 78.000 million)are secured by first pari-passu charge on the Company’s existing as well as future fixed assets at Textile Processing Unit at Ranjangaon and the Polyester Division at Patalganga other than fixed assets charged exclusively to term lenders.

 

vii) Term loan amounting to INR Nil million (2015-16 INR 666.400 million) is secured by first pari-passu charge on Company’s plant and machinery at Textile Processing Unit at Ranjangaon and the Polyester Division at Patalganga.

 

 

SHORT TERM BORROWINGS

 

a) Nature of Security for Short term borrowings

 

(i) Short term loans from bank INR 709.300 million (2015-16 INR Nil) are secured by mortgage of the company’s property ‘Jorbagh’ and first paripassu charge over part of the company’s land, building and structures at Worli.

 

(ii) Working Capital loans of INR 1043.800 million (2015-16: INR 2375.800 million) and Buyer’s Credit amounting to INR 98.600 million (2015-16 INR 298.300 million) from banks under consortium arrangement is secured by hypothecation of present and future stocks, book debts and other current assets on pari-passu basis and a second charge over part of the land of the Company at Textile Mills at Mumbai admeasuring 89819.85 square metres and plant and machinery and buildings thereon on pari-passu basis.

 

(iii) Packing credit from bank of INR 928.100 million (2015-16 INR 1108.400 million) is secured by way of registered mortgage on the immovable properties in Wadia International Centre (Texturising Building and Hemming Building) located at Worli, Mumbai.

 

(iv) Buyer’s Credit aggregating INR 628.900 million (2015-16 INR 466.100 million) is secured by first pari-passu charge on land of the Company at Spring Mills at Mumbai admeasuring 36617.13 square metres.

 

(v) Inter corporate deposits are secured by pledge of 7538600 equity shares of Bombay Burmah Trading Company Limited.

 

(vi) Packing credit from bank of INR Nil crores (2015-16 INR 205.000 million) is secured by way of current assets of the company (excluding the real estate division) and on the Textile mill land at Worli admeasuring 89819.85 square metres and plant and building on pari-passu basis with other lenders.

 

(vii) Packing credit from bank of INR Nil million (2015-16 INR 350.000 million) is secured by first pari-passu charge over part of the land of the Company at Textile Mills at Mumbai and plant and machinery, buildings and structures thereon.

 

 

Financial Institution :

Indiabulls Housing Finance Limited, M - 62 And 63, First Floor, Connaught Place, New Delhi-110001, India

 

 

Auditors :

 

Name :

Messrs. Kalyaniwalla and Mistry LLP

Chartered Accountants

Address :

Kalpataru Heritage, 127, Mahatma Gandhi Road, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-61587200

Fax No.:

91-22-22673964

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprise controlled by the Company Subsidiary Company:

Archway Investment Company Limited (upto 31st March, 2016)

CIN No.:U67120MH1976PLC019304

 

 

 

Other related parties with whom Company had transaction during the year

Associate Companies:

·         Pentafil Textile Dealers Limited 

CIN No.:U65993MH1984PLC253516

  • Bombay Dyeing Real Estate Company Limited

             CIN No.: U70102MH2008PLC183489

 

 

Joint Venture Company:

PT. Five Star Textile, Indonesia

 

 

Entities over which key management personnel and relatives exercise significant influence:
  • Go Airlines (India) Limited
  • Gladrags Media Limited
  • The Bombay Burmah Trading Corporation Limited

(CIN No.:U70102MH2008PLC183489)

 

 

CAPITAL STRUCTURE

 

AFTER 31.03.2017

 

Authorised Capital : INR 1060.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 413.070 Million

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000000

Equity Shares

INR 2/- each

INR 500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

206534900

Equity Shares

INR 2/- each

INR 413.100 Million

 

 

 

 

 

a) Reconciliation of the shares outstanding at the beginning and at the end of the reporting period

 

Equity shares

31.03.2017

 

Numbers

INR in Millions

At the beginning of the period

206534900

413.100

Add: Shares issued during the year

--

--

Outstanding at the end of the period

206534900

413.100

 

b) Rights, preferences and restrictions attached to Equity shares

 

The company has one class of equity shares having a par value of INR 2 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

 

c) Details of shareholders holding more than 5% shares in the company

 

Equity shares

31.03.2017

 

Numbers

% holding

Baymanco Investments Limited, Mauritius

47312000

22.91

The Bombay Burmah Trading Corporation Limited

31550713

15.28

Total

78862713

38.19

 

d) Shares reserved for issue under options

 

Pursuant to the Employee Stock Option Scheme (ESOS) approved by the shareholders on 13th August, 2002 and as further amended by the shareholders on 07th August, 2012, the Company had granted 14,000 options, (70,000 options post sub-division) to the Ex-Joint Managing Director of the Company at an exercise price of INR 528.25 (INR 105.65 post sub-division) per share. As per the terms of the ESOS, the outstanding options have lapsed during the year and no options are outstanding at the year end.

 

e) Information regarding issue of shares during last five years

 

(i) No shares were allotted pursuant to contracts without payment being received in cash.

 

(ii) No bonus shares have been issued.

 

(iii) No shares have been bought back.

 

 

f) Shares held in Abeyance

 

Under orders from the Special Court (Trial of Offences relating to Transactions in Securities) Act, 1992, - the allotment of Nil shares (2015-16- Nil shares) of face value of INR 2/- each against warrants carrying rights of conversion into equity shares of the Company has been kept in abeyance in accordance with section 206A of the Companies Act, 1956, till such time as the title of the bonafide owner is certified by the concerned Stock Exchanges.

 

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

413.100

413.100

413.100

(b) Reserves & Surplus

5953.400

12239.700

12708.100

(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)

6366.500

12652.800

13121.200

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

22303.200

10093.500

12150.700

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

151.600

144.600

104.400

(d) long-term provisions

162.200

166.100

149.200

Total Non-current Liabilities (3)

22617.000

10404.200

12404.300

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4907.200

12189.200

8240.700

(b) Trade payables

3511.100

3577.400

2964.900

(c) Other current liabilities

2690.100

7128.100

6788.200

(d) Short-term provisions

467.700

689.800

415.200

Total Current Liabilities (4)

11576.100

23584.500

18409.000

 

 

 

 

TOTAL

40559.600

46641.500

43934.500

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5521.700

5715.100

5884.400

(ii) Intangible Assets

1.100

6.100

18.700

(iii) Capital work-in-progress

740.400

746.700

724.100

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

9539.200

378.000

559.600

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1.300

174.000

348.600

(e) Other Non-current assets

485.800

19629.300

18128.200

Total Non-Current Assets

16289.500

26649.200

25663.600

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

4090.000

7997.000

6798.700

(c) Trade receivables

2123.600

1407.600

2381.500

(d) Cash and cash equivalents

1333.800

1623.000

1137.700

(e) Short-term loans and advances

18.600

3536.800

1431.100

(f) Other current assets

16704.100

5427.900

6521.900

Total Current Assets

24270.100

19992.300

18270.900

 

 

 

 

TOTAL

40559.600

46641.500

43934.500

 

 

PROFIT & LOSS ACCOUNT [STANDALONE]

 

 

PARTICULARS

31.03.2018

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

26927.500

17102.900

18450.100

 

Other Income

512.500

699.500

393.800

 

TOTAL

27440.000

17802.400

18843.900

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

9682.700

8893.800

8995.600

 

Purchases of Stock-in-Trade

1645.200

2302.000

2111.400

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

120.300

(1824.900)

(1520.800)

 

Excise Duty

304.300

 

 

 

Employees benefits expense

873.100

900.100

1002.000

 

Impairment loss on fixed assets

0.000

24.300

0.000

 

Exceptional items

1532.500

(3024.300)

0.000

 

Other expenses

8486.100

5817.600

5942.600

 

TOTAL

22644.200

13088.600

16530.800

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

4795.800

4713.800

2313.100

 

 

 

 

 

Less

FINANCIAL EXPENSES

4125.100

3684.400

2826.400

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

670.700

1029.400

(513.300)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

298.800

316.600

339.100

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

371.900

712.800

(852.400)

 

 

 

 

 

Less

TAX

27.800

295.700

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

344.100

417.100

(852.400)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

NA

58.300

1035.000

 

 

 

 

 

Add

Gain on amalgamation of subsidiary

NA

127.100

0.000

 

 

 

 

 

Less

Depreciation on assets where remaining life is Nil, recognized in retained earnings

NA

0.000

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Proposed Dividend

NA

144.600

103.300

 

Dividend Distribution Tax

NA

29.400

21.000

 

Total

NA

174.000

124.300

 

 

 

 

 

 

Balance Carried to the B/S

NA

428.500

58.300

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

NA

2793.800

2697.400

 

Reimbursement of insurance and freight on exports

NA

69.400

82.800

 

TOTAL EARNINGS

NA

2863.200

2780.200

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

4422.700

6587.200

 

Stores, spare parts and catalysts

NA

188.700

162.900

 

Capital Goods

NA

5.500

1.400

 

TOTAL IMPORTS

NA

4616.900

6751.500

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

1.67

2.02

(4.13)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2018

31.03.2017

31.03.2016

Current Maturities of Long term debt

NA

3891.600

3923.500

Cash Generated From/ (Used In) Operations

NA

889.000

(4264.800)

Net Cash Generated From/ (Used In) Operating Activities

NA

560.100

(4352.300)

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Average Collection Days

[Sundry Debtors / Income * 365]

28.79

30.04

47.11

 

 

 

 

Account Receivables Turnover

[Income / Sunday Debtors]

12.68

12.15

7.75

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

113.13

116.63

97.43

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.17

0.59

0.34

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.77

0.73

0.35

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.84

0.72

0.70

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

4.27

1.76

1.55

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.82

1.86

1.40

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.98

0.51

0.51

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

1.16

1.28

0.82

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2018

31.03.2017

31.03.2016

PAT to Sales

((PAT / Sales) * 100)

%

1.28

2.44

(4.62)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

0.85

0.89

(1.94)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

5.40

3.30

(6.50)

 

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Current Ratio

(Current Assets / Current Liabilities)

2.10

0.85

0.99

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.74

0.51

0.62

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.16

0.27

0.30

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

65.87

53.94

49.36

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.10

0.85

0.99

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 2.00/-

Market Value

INR 270.00/-

 

 

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

413.100

413.100

413.100

Reserves & Surplus

12708.100

12239.700

5953.400

Net worth

13121.200

12652.800

6366.500

 

 

 

 

long-term borrowings

12150.700

10093.500

22303.200

Short term borrowings

8240.700

12189.200

4907.200

Total borrowings

20391.400

22282.700

27210.400

Debt/Equity ratio

1.554

1.761

4.274

 

 

 

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

18450.100

17102.900

26927.500

 

 

(7.302)

57.444

 

 

 

 

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

18450.100

17102.900

26927.500

Profit

(852.400)

417.100

344.100

 

(4.62%)

2.44%

1.28%

 

 

 

ABRIDGED BALANCE SHEET [CONSOLIDATED]

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

413.100

413.100

(b) Reserves & Surplus

 

11824.000

12448.900

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

(3) Minority interest

 

0.000

27.900

Total Shareholders’ Funds (1) + (2)

 

12237.100

12889.900

 

 

 

 

(4) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

10800.000

12816.900

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

144.600

104.400

(d) long-term provisions

 

166.100

149.200

Total Non-current Liabilities (3)

 

11110.700

13070.500

 

 

 

 

(5) Current Liabilities

 

 

 

(a) Short term borrowings

 

12189.200

8445.700

(b) Trade payables

 

3578.200

2965.900

(c) Other current liabilities

 

7142.600

6802.300

(d) Short-term provisions

 

689.900

415.200

Total Current Liabilities (4)

 

23599.900

18629.100

 

 

 

 

TOTAL

 

46947.700

44589.500

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

5930.200

6290.300

(ii) Intangible Assets

 

6.100

18.700

(iii) Capital work-in-progress

 

746.700

724.100

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

399.300

543.800

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

174.000

176.200

(e) Other Non-current assets

 

19629.300

18128.300

Total Non-Current Assets

 

26885.600

25881.400

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

8000.800

6803.100

(c) Trade receivables

 

1408.500

2383.100

(d) Cash and cash equivalents

 

1635.100

1214.900

(e) Short-term loans and advances

 

3540.800

1771.700

(f) Other current assets

 

5476.900

6535.300

Total Current Assets

 

20062.100

18708.100

 

 

 

 

TOTAL

 

46947.700

44589.500

 

 

PROFIT & LOSS ACCOUNT [CONSOLIDATED]

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

17140.700

18494.600

 

Other Income

 

688.500

465.000

 

TOTAL

 

17829.200

18959.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

8915.300

9015.600

 

Purchases of Stock-in-Trade

 

2302.000

2111.400

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

(1825.600)

(1517.300)

 

Employees benefits expense

 

930.700

1021.900

 

Exceptional items

 

(3024.300)

0.000

 

Other expenses

 

5655.300

5989.700

 

TOTAL

 

12953.400

16621.300

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

4875.800

2338.300

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

3706.600

2899.200

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

1169.200

(560.900)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

318.500

343.600

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

850.700

(904.500)

 

 

 

 

 

Less

TAX

 

295.700

5.300

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

555.000

(909.800)

 

 

 

 

 

Add

Share of profit/ (loss) in associates

 

19.100

(0.100)

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE MINORITY INTEREST

 

574.100

(909.900)

 

 

 

 

 

Less:

Minority Interest

 

0.000

1.000

 

 

 

 

 

 

PROFIT / (LOSS) FOR THE YEAR

 

574.100

(910.900)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

2.78

(4.41)

 

 

LEGAL CASE

 

Bench:-Bombay

 

Presentation Date:- 07/01/2017

Lodging No.:-

ITXAL/48/2017

Filing Date:-

07/01/2017

Reg. No.:-

ITXA/900/2017

Reg. Date:-

20/06/2017

 

Petitioner:-

 

PR. COMMISSIONER OF INCOME TAX -2-

Respondent:-

BOMBAY DYEING AND MFG COMPANY LIMITED

Petn.Adv.:-

SURESH KUMAR (I2100)

District

MUMBAI

Bench:

DIVISION

Status:-

Pre-Admission

Category:-

TAX APPEALS

Next Date :-

09/04/2018

Stage:-

FOR REJECTION [ORIGINAL SIDE MATTERS]

Coram:

ACCORDING TO SITTING LIST

ACCORDING TO SITTING LIST

Act :-

Income Tax Act, 1961

Under Section:-

260A

 

 

Case Details

Bench:-Bombay

 

Presentation Date:- 19/04/2017

Lodging No.:-

APPL/144/2017

Filing Date:-

19/04/2017

Reg. No.:-

APP/201/2017

Reg. Date:-

29/06/2017

 

Main Matter

Lodging No.:-

NMSL/1102/2012

Reg No.:-

NMS/904/2012

Petitioner:-

 

BEACH TOWERS CONDOMINIUM AND DHIRAJLAL DIPCHAND SHAH

Respondent:-

THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED

Petn.Adv.:-

AKSHAY MOTILAL VANI (163)

Resp.Adv.:-

MANDAKINI KUMARI SINH (I3684)

District

MUMBAI

Bench:

DIVISION

Status:-

Admitted(Unready)

Category:-

APPEAL(INTERLOCUTORY APPLN.-NMA)

Last Date:-

24/07/2017

Stage:-

FOR ADMISSION

Last Coram:-

 

HON'BLE SHRI JUSTICE SHANTANU S. KEMKAR

HON'BLE SHRI JUSTICE N.M. JAMDAR

Act :-

Code of Civil Procedure 1908

 

 

Case Details

Bench:-Bombay

 

Presentation Date:-  30/11/2017

Lodging No.:-

ITXAL/3065/2017

Filing Date:-

30/11/2017

Petitioner:-

 

PR. COMMISSIONER OF INCOME TAX-2

Respondent:-

THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED

Petn.Adv.:-

SURESH KUMAR (I2100)

District

MUMBAI

Bench:

DIVISION

Status:-

Pre-Admission

Category:-

TAX APPEALS

Last Date :-

07/12/2017

Stage:-

 

Last

Coram:-:

REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

Act :-

Income Tax Act, 1961

Under Section:-

260A

 

 

 

 

Case Details

 

Bench:-Bombay

 

Presentation Date:- 20/03/2017

Lodging No.:-

CONPWL/33/2017

Filing Date:-

20/03/2017

Reg. No.:-

CONPW/26/2017

Reg. Date:-

10/04/2017

 

Main Matter

Lodging No.:-

WPL/572/2017

Reg No.:-

WP/677/2017

Petitioner:-

 

NAPEROL TOWER CONDOMINUUM-

Respondent:-

THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED

Petn.Adv.:-

DARU SHAH AND COMPANY (I3587)

District

MUMBAI

Bench:

DIVISION

Status:-

Pre-Admission

Category:-

CONTEMPT MATTERS WRIT

Last Date :-

25/07/2017

Stage:-

FOR ADMISSION

Last

Courm:

HON'BLE SHRI JUSTICE ANOOP V. MOHTA

 

 

HON'BLE SMT. JUSTICE ANUJA PRABHUDESSAI

Act :-

Mah. Slum Areas Act

Contempt of Court Act 1971

 

 

 

Case Details

 

Bench:-Bombay

 

Presentation Date:- 23/02/2017

Lodging No.:-

WPL/572/2017

Filing Date:-

23/02/2017

Reg. No.:-

WP/677/2017

Reg. Date:-

22/03/2017

 

Petitioner:-

 

NAPEROL TOWER CONDOMINUUM-

Respondent:-

THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED

Petn.Adv.:-

DARU SHAH AND COMPANY (I3587)

Resp.Adv.:-

0 (0)

District

MUMBAI

Bench:

DIVISION

Status:-

Pre-Admission

Category:-

WRIT PETITION(OTHERS)

Next Date:-

30/11/2017

Stage:-

FOR ADMISSION

Coram:-

HON'BLE SHRI JUSTICE SHANTANU S. KEMKAR

 

 

HON'BLE SMT. JUSTICE ANUJA PRABHUDESSAI

Last Date:-

08/09/2017

Stage:-

FOR ADMISSION

Last Coram:-

 

HON'BLE SHRI JUSTICE SHANTANU S. KEMKAR

HON'BLE SMT. JUSTICE S.S. JADHAV

Act :-

Mah. Housing and Area Devolopment Act

 

 

Case Details

 

Bench:-Bombay

 

Presentation Date:- 10/03/2017

Lodging No.:-

EXAL/505/2017

Filing Date:-

10/03/2017

Reg. No.:-

COMEX/90/2017

Reg. Date:-

23/08/2017

 

Petitioner:-

 

KNIGHT FRANK PROPERTY SERVICES PRIVATE LIMITED

Respondent:-

BOMBAY DYEING AND MFG COMPANY LIMITED

Petn.Adv.:-

ECONOMIC LAWS PRACTICE (I2575)

District

MUMBAI

Bench:

SINGLE

Status:-

Pre-Admission

Category:-

EXECUTION APPLICATIONS

Act :-

Code of Civil Procedure 1908

 

 

Case Details

 

Bench:-Bombay

 

Presentation Date:- 18/08/2017

Lodging No.:-

WPL/2293/2017

Filing Date:-

18/08/2017

Reg. No.:-

WP/2713/2017

Reg. Date:-

15/11/2017

 

Petitioner:-

 

MARUTI LAXMAN POTE AND 9 ORS -

Respondent:-

BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED

Petn.Adv.:-

MEGHNA ASHOK GOWALANI (I4450)

Resp.Adv.:-

GOVERNMENT PLEADER ORIGINAL SIDE MUMBAI (I5024)

District

MUMBAI

Bench:

DIVISION

Status:-

Pre-Admission

Category:-

WRIT PETITION(OTHERS)

Next Date:-

14/03/2018

Stage:-

 

FOR ADMISSION - AFTER NOTICE

Coram:-

HON'BLE SHRI JUSTICE SHANTANU S. KEMKAR

HON'BLE SHRI JUSTICE G. S. KULKARNI

Last Date:-

23/11/2017

Stage:-

FOR ADMISSION - AFTER NOTICE

Last Coram:-

 

HON'BLE SHRI JUSTICE SHANTANU S. KEMKAR

HON'BLE SHRI JUSTICE G. S. KULKARNI

Act :-

Mah. Housing & Area Devolopment Act

Under Section:-

226, 227

 

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOANS:

 

Unsecured Loan

31.03.2018

INR In Million

31.03.2017

INR In Million

LONG-TERM BORROWINGS

 

 

Fixed Deposits

NA

770.500

 

 

 

SHORT-TERM BORROWINGS

 

 

Short Term loans from banks

NA

50.000

Bills discounted with banks

NA

0.000

Inter corporate deposits

NA

6830.500

Total

NA

7651.000

 

 

INDEX OF CHARGE:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

G73058927

100145412

DEWAN HOUSING FINANCE CORPORATION LIMITED

30/10/2017

-

10500000000.0

Warden House 2nd Floor, Sir P M Road, Fort, Mumbai-400001, Maharashtra, India

2

G54462940

100124871

Bank of Baroda

05/09/2017

-

4000000000.0

Corporate Financial Service, 3rd Floor, 10/12, Mumbai Samachar Marg, Fort, Mumbai-400001, Maharashtra, India

3

G61310298

100123761

INDIABULLS HOUSING FINANCE LIMITED

21/08/2017

06/10/2017

8050000000.0

M - 62 and 63, First Floor, Connaught Place, New Delhi-110001, India

4

G61311304

100123764

INDIABULLS HOUSING FINANCE LIMITED

21/08/2017

06/10/2017

8650000000.0

M - 62 and 63, First Floor, Connaught Place, New Delhi-110001, India

5

G46499141

100104441

KOTAK MAHINDRA BANK LIMITED

23/05/2017

-

359300000.0

27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India

6

G07062631

10468630

KOTAK MAHINDRA BANK LIMITED

19/12/2013

02/03/2016

1500000000.0

27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India

7

B81029357

10440863

IDBI Bank Limited

15/07/2013

-

270000000.0

IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

8

B44246148

10366705

TATA CAPITAL FINANCIAL SERVICES LIMITED

06/07/2012

-

1200000000.0

One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai-400001, Maharashtra, India

9

B76301977

10334184

Bank of Bahrain and Kuwait BSC

07/02/2012

06/05/2013

1015400250.0

43, Government Avenuep O Box 597, Manamana 000597 BH

10

C09723610

10202231

IDBI Bank Limited

15/02/2010

22/03/2014

1850000000.0

IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

 

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2018

31.03.2017

A.  Claims against the company not acknowledged as debt.

 

 

(a) Income-tax matters in respect of earlier years under dispute (including interest of INR 1066.200 million) [31.03.2016 - INR 51.200 million] as follows:

 

 

i) Decided in Company's favour by appellate authorities and department in further appeal

NA

--

ii) Pending in appeal - matters decided against the Company

NA

3088.200

(b) Sales Tax, Service Tax and Excise Duties

NA

88.100

(c) Custom Duty

NA

9.500

(d) Other Matters (Including claims related to real estate, employees and other matters)

NA

1190.500

In respect of items (a) to (d) above, it is not possible for the Company to estimate the timings of cash outflows which would be determinable only on receipt of judgments pending at various forums/authorities.

 

 

B. Guarantees

 

 

1. Counter indemnity for an amount of INR 1893.900 million (31.3.2016 INR 1937.500 million) issued in favour of IDBI Bank Limited which in turn has guaranteed loans granted by Punjab National Bank International London and Axis Bank, UK to PTFS secured by first pari-passu charge on 36617.13 square metres of land at Company's Spring Mill Dadar, Naigaon together with all buildings, structures and erections thereon.

NA

--

2. Corporate guarantee for an amount of INR 217.200 milion (31.03.2016 INR 352.700 million) issued in favour of Bank of Bahrain and Kuwait, Bahrain for loans granted to PTFS. The Company has a pari-passu charge on PTFS’s assets, which would cover the aforesaid indemnity amount.

NA

--

C. Other money for which the company is contingently liable Bills Discounted

NA

53.600

 

FIXED ASSETS:

 

Tangible Asset:

  • Land
  • Building
  • Computer and data processing units
  • Office Equipment
  • Plant and Machinery
  • Furniture and Fixture
  • Motor Vehicles

 

Intangible Asset:

  • Computer software

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 67.96

UK Pound

1

INR 91.88

Euro

1

INR 80.28

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

PRA

 

 

Report Prepared by :

JYO

 

 

 

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.