|
|
|
MIRA INFORM REPORT
|
Report No. : |
510404 |
|
Report Date : |
23.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
IMP POWERS LIMITED (w.e.f. January 2005) |
|
|
|
|
Formerly Known
As : |
IMP POWER LIMITED INDUSTRIAL METERS LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 263/3/2/2, Sayli Village, Umar Kuin Road, Silvassa –
396230, (U.T.) Dadra and Nagar Haveli |
|
Tel. No.: |
91-260-6538571 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2018 |
|
|
|
|
Date of Incorporation
: |
24.03.1961 |
|
|
|
|
Com. Reg. No.: |
54-000232 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 86.388 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31300DN1961PLC000232 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0388072121 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI06707B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI0999M |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The company is engaged in the manufacture of Power, EHV, Distribution Transformers up to 315 MVA in 400 Kv class, and has entered into the elite league of manufacturers of 400 kv transformers. [Registered Activity] |
|
|
|
|
No. of Employees
: |
355 (Approximately) [As on 2017] |
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1961. It is engaged in the business of manufacturing and exporting of transformers and spares. For the financial year ended 2018, the company has achieved growth in its revenue by 13.61% as compared to the previous year but has managed to maintain an average profit margin of 1.22%. The satisfactory financial risk profile of the company is marked by sufficient net worth base along with strong debt protection metrics due to low debt balance sheet profile. The rating strengths however are tempered by moderate liquidity profile, leveraged capital structure and working capital intensive nature of operations, along with intense competition within the industry. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings with 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 |
CARE |
|
Rating |
Long Term Borrowing = BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
06.03.2018 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Borrowing = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
06.03.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 23.05.2018
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. Bhavan Singh |
|
Designation : |
D.G.M. Accounts |
|
Contact No.: |
91-22-23539180 |
|
Date : |
20.05.2018 |
LOCATIONS
|
Registered Office / Works : |
Survey No. 263/3/2/2, Sayli Village, Umar Kuin Road, Silvassa –
396230, (U.T.) Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-2681040 / 2681041 / 6538571 / 2630810 / 2630811 |
|
Fax No.: |
91-260-2681043 / 2642711 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Corporate Office : |
35/C, Popular Press Building, 2nd Floor, Pt. M M |
|
Tel. No.: |
91-22-23539180-85 |
|
Fax No.: |
91-22-23539180-87 |
|
Location : |
Leased |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Ramniwas Ramdayal Dhoot |
|
Designation : |
Chairman |
|
Address : |
Shriniketan, 2nd Floor, 86-A, Netaji Subhash
Road, Mumbai – 400002, Maharashtra, India |
|
Date of Birth/Age : |
5.03.1941 |
|
Date of Appointment : |
16.08.1962 |
|
Educational Qualifications |
B.com |
|
DIN No.: |
00210094 |
|
|
|
|
Name : |
Mr. Ajay Ramniwas Dhoot |
|
Designation : |
Managing Director |
|
Address : |
Shriniketan, 2nd Floor, 86-A, Netaji Subhash
Road, Mumbai – 400 002, Maharashtra, India |
|
Date of Birth/Age : |
09.03.1964 |
|
Date of Appointment : |
14.051982 |
|
DIN No.: |
00210424 |
|
|
|
|
Name : |
Mr. Aditya Ramniwas Dhoot |
|
Designation : |
Managing Director |
|
Address : |
Shriniketan, Ground Floor 86 A, Netaji Subhash Road, Marine Drive, Mumbai – 400002, Maharashtra, India |
|
Date of Appointment : |
28.11.1986 |
|
DIN No.: |
00057224 |
|
|
|
|
Name : |
Mr. Ramdas Trimbak Rajguroo |
|
Designation : |
Director |
|
Address : |
C/602 6th Floor, Fortuna, Lodha Paradise, Majiwade, Thane – 400601, Maharashtra, India |
|
Date of Appointment : |
30.07.2005 |
|
DIN No.: |
00001424 |
|
|
|
|
Name : |
Siby Antony |
|
Designation : |
Director |
|
Address : |
Flat No.1701, 17th Floor, Royal Residency, Wing No - A, Chiwada Gally, Lalbaug, Mumbai – 400012, Maharashtra, India |
|
Date of Appointment : |
03.09.2009 |
|
DIN No.: |
00075909 |
|
|
|
|
Name : |
Mr. Prashant Pandit |
|
Designation : |
Director |
|
Address : |
Bunglow 58-58 Mhada Layout Gorai I, Gorai Road RSC-18 Borivali West, Mumbai – 400091, Maharashtra, India |
|
Date of Appointment : |
30.07.2005 |
|
DIN No.: |
03079878 |
|
|
|
|
Name : |
Mr. Praveen Saxena |
|
Designation : |
Additional Director |
|
Address : |
A-9, East Krishna, Nagar Delhi – 110051, India |
|
Date of Appointment : |
27.05.2016 |
|
DIN No.: |
03199264 |
|
|
|
|
Name : |
Mrs. Priyanjali Dhoot Aditya |
|
Designation : |
Additional Director |
|
Address : |
Shriniketan, 86/A, Netaji Subhash Road, Marine Drive, Mumbai – 400002, Maharashtra, India |
|
Date of Appointment : |
10.11.2016 |
|
DIN No.: |
07702915 |
KEY EXECUTIVE
|
Name : |
Ms. Priya Dilipbhai Shah |
|
Designation : |
Company Secretary |
|
Address : |
Shri Krishna Niwas, Zanda Chowk, Vyara – 394650, Gujarat, India |
|
Date of Appointment : |
14.02.2017 |
|
PAN No.: |
BNRPS5357R |
|
|
|
|
Name : |
Mr. Bakul Kantilal Desai |
|
Designation : |
Chief Finance Officer |
|
Address : |
B/605, Giridwar, Mathuradas Road, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Appointment : |
01.07.2016 |
|
PAN No.: |
AAAPD3667N |
|
|
|
|
Name : |
Mr. B. K. Desai |
|
Designation : |
Chief Finance Officer |
|
Date of Appointment : |
01.07.2016 |
SHAREHOLDING PATTERN
AS ON March 2018
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
(A) Promoter
& Promoter Group |
4576604 |
52.99 |
|
(B) Public |
4059959 |
47.01 |
|
Grand Total |
8636563 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
A1) Indian |
|
0.00 |
|
Individuals/Hindu
undivided Family |
1212803 |
14.04 |
|
Ramniwas R. Dhoot |
234812 |
2.72 |
|
Ajay R Dhoot |
232977 |
2.70 |
|
Aditya R. Dhoot |
212623 |
2.46 |
|
Smita A. Dhoot |
188204 |
2.18 |
|
Radhika A Dhoot |
167850 |
1.94 |
|
Rajkumari R.
Dhoot |
166015 |
1.92 |
|
Ramniwas Ramdayal
Dhoot |
10322 |
0.12 |
|
Any Other
(specify) |
3363801 |
38.95 |
|
Advance
Transformers And Equipments Private Limited |
936939 |
10.85 |
|
Shree Rasbihari
Trading & Investment Private Limited |
797773 |
9.24 |
|
Shree Kishoriju Trading
& Investment Private Limited |
587552 |
6.80 |
|
Universal
Transformers Private Limited |
336250 |
3.89 |
|
Shree Rasbihari
Electrical Private Limited |
283115 |
3.28 |
|
Mangalam
Laboratories Private Limited |
250000 |
2.89 |
|
M/S Mangalam Drugs
And Organics Limited |
172172 |
1.99 |
|
Sub Total A1 |
4576604 |
52.99 |
|
A2) Foreign |
|
0.00 |
|
A=A1+A2 |
4576604 |
52.99 |
Statement showing shareholding pattern of the Public
shareholder
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
B1) Institutions |
0 |
0.00 |
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
B3)
Non-Institutions |
0 |
0.00 |
|
Individual share
capital upto INR 0.200 million |
1755314 |
20.32 |
|
Individual share capital
in excess of INR 0.200 million |
223146 |
2.58 |
|
Any Other
(specify) |
2081499 |
24.10 |
|
Il And Fs Trust
Company Ltd (Trustees Of Business Excellence Trust India Business Excellence
Fund) |
577300 |
6.68 |
|
HUF |
103923 |
1.20 |
|
India Business Excellence
Fund I |
491840 |
5.69 |
|
Non-Resident
Indian (NRI) |
31612 |
0.37 |
|
Non-Resident
Indian (NRI) |
45707 |
0.53 |
|
Clearing Members |
32999 |
0.38 |
|
Bodies Corporate |
798118 |
9.24 |
|
Percept Financial
Services Private Limited |
155781 |
1.80 |
|
Dinero Finance
And Investments Private Limited |
129883 |
1.50 |
|
Sharekhan Limited |
111591 |
1.29 |
|
Bonanza Portfolio
Limited |
102957 |
1.19 |
|
Sub Total B3 |
4059959 |
47.01 |
|
B=B1+B2+B3 |
4059959 |
47.01 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacture of Power, EHV, Distribution Transformers up to 315 MVA in 400 Kv class, and has entered into the elite league of manufacturers of 400 kv transformers. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
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|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
355 (Approximately) [As on 2017] |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of Hyderabad · Bank of India · The Karnataka Bank Limited · IDBI Bank Limited ·
Axis Bank Limited |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Batliboi and Purohit Chartered Accountants |
|
Address : |
National
Insurance Building, 204, Dadabhoy Naoroji Road, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel No.: |
91-22-22077941 |
|
Fax No.: |
91-22-22074260 |
|
Email : |
|
|
Website : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries [As on
2017] : |
· IMP Energy Limited |
|
|
|
|
Other Related
Parties [As on 2017] : |
· Raga Organics Private Limited · Advance Transformers and Equipments Private Limited · Shree Kishoriju Trading and Investments Private Limited · Shree Rasbihari Electricals Private Limited · Shree and Sons. · Universal Transformers Private Limited · Shree Rasbihari Trading and Investments Private Limited · Raj Exports Private Limited · Mangalam Laboratories Private Limited · Ramniwas R Dhoot (HUF) |
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital: Not Available
Issued Subscribed & Paid-up Capital: INR 86.388
Million
AS ON 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27670000 |
Equity Shares |
INR 10/- each |
INR 276.700 Million |
|
6330000 |
Preference shares |
INR 10/- each |
INR 63.300 Million |
|
|
|
|
|
|
|
Total |
|
INR 340.000 Million |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8640963 |
Equity Shares |
INR 10/- each |
INR 86.410 Million |
|
|
|
|
|
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8636563 |
Equity Shares |
INR 10/- each |
INR 86.366 Million |
|
|
Shares
Forfeited |
|
INR 0.022 Million |
|
|
|
|
|
|
|
Total |
|
INR 86.388
Million |
1) Equity Shares includes 1127000 shares issued as fully paid up Bonus Shares during 1994-95 by Capitalisation of Revaluation Reserve
2) The Authorised Share Capital was reclassified and subsequently clause V substituted vide Ordinary Resolution passed by the Shareholders of the company at their Extra ordinary General Meeting held on Monday, 19th September 2011 at the Registered Office of the Company.
Reconciliation of the number of shares and
amount outstanding at the beginning and at the end of the reporting period:
|
Particulars |
31st March, 2017 |
|
|
No. of Shares |
INR In Million |
|
|
Equity shares with
voting rights |
|
|
|
At the Beginning of the period |
8636563 |
86.366 |
|
Outstanding at the
end the period |
8636563 |
86.366 |
Details of shares held
by each shareholder holding more than 5% shares:
|
Class of shares /
Name of shareholder |
31st March, 2017 |
|
|
No. of Shares held |
% holding in that class of shares |
|
|
Equity shares with
voting rights |
|
|
|
India Business Excellence Fund |
491840 |
5.69 |
|
IL&FS Trust Company Limited |
577300 |
6.68 |
|
Shree Kishoriju Trading and Investments Private Limited |
587552 |
6.80 |
|
Shree Rasbihari Trading and Investments Private Limited |
797773 |
9.24 |
|
Advance Transformer and Equipment Private Limited |
936939 |
10.85 |
Details of forfeited
shares
|
Class of shares |
31st March, 2017 |
|
|
No. of Shares held |
Amount originally paid up |
|
|
Equity shares |
4400 |
0.022 |
|
Share Premium |
491840 |
0.176 |
|
TOTAL |
|
0.198 |
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 |
86.388 |
86.388 |
86.388 |
|
(b) Reserves & Surplus |
1018.301 |
966.550 |
934.290 |
|
(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) |
1104.689 |
1052.938 |
1020.678 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
75.124 |
82.101 |
52.901 |
|
(b) Deferred tax liabilities (Net) |
42.192 |
44.546 |
45.204 |
|
(c) Other long term
liabilities |
83.781 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.307 |
4.087 |
2.329 |
|
Total Non-current
Liabilities (3) |
207.404 |
130.734 |
100.434 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
867.448 |
854.714 |
879.384 |
|
(b) Trade
payables |
1486.510 |
1507.566 |
1317.276 |
|
(c) Other
current liabilities |
169.172 |
86.983 |
105.760 |
|
(d) Short-term
provisions |
6.882 |
30.985 |
23.323 |
|
Total Current
Liabilities (4) |
2530.012 |
2480.248 |
2325.743 |
|
|
|
|
|
|
TOTAL |
3842.105 |
3663.920 |
3446.855 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
753.931 |
720.645 |
715.608 |
|
(ii)
Intangible Assets |
0.455 |
0.206 |
0.230 |
|
(iii)
Capital work-in-progress |
0.000 |
45.788 |
37.020 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.749 |
7.748 |
7.849 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
62.848 |
56.696 |
|
(e) Other
Non-current assets |
28.507 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
790.642 |
837.235 |
817.403 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1193.680 |
934.398 |
814.611 |
|
(c) Trade
receivables |
1576.273 |
1635.453 |
1584.783 |
|
(d) Cash
and cash equivalents |
156.430 |
126.893 |
105.238 |
|
(e) Short-term
loans and advances |
3.192 |
64.922 |
52.969 |
|
(f) Other
current assets |
121.888 |
65.019 |
71.851 |
|
Total
Current Assets |
3051.463 |
2826.685 |
2629.452 |
|
|
|
|
|
|
TOTAL |
3842.105 |
3663.920 |
3446.855 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
4465.597 |
3930.532 |
3601.101 |
|
|
|
|
Other Income |
0.000 |
8.385 |
7.558 |
|
|
|
|
TOTAL |
4465.597 |
3938.917 |
3608.659 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
3892.941 |
3273.606 |
2897.910 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(295.465) |
(81.641) |
(14.051) |
|
|
|
|
Employee Benefits Expenses |
154.678 |
148.201 |
128.649 |
|
|
|
|
Other Expenses |
301.786 |
244.382 |
251.024 |
|
|
|
|
TOTAL |
4053.940 |
3584.548 |
3263.532 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
411.657 |
354.369 |
345.127 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
268.573 |
243.701 |
239.314 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
143.084 |
110.668 |
105.813 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
65.857 |
60.448 |
59.273 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
77.227 |
50.220 |
46.540 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
22.605 |
16.629 |
15.556 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
54.622 |
33.591 |
30.984 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw materials including Spares |
NA |
169.823 |
148.443 |
|
|
|
TOTAL IMPORTS |
NA |
169.823 |
148.443 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
6.32 |
3.89 |
3.65 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
33.979 |
37.709 |
|
Cash generated from operations |
NA |
353.384 |
258.062 |
|
Net cash flow from / (used in) operating activities |
NA |
336.096 |
240.812 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
128.84 |
151.87 |
160.63 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.83 |
2.40 |
2.27 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
139.37 |
168.09 |
165.91 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.34 |
0.38 |
0.42 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.55 |
0.46 |
0.46 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.68 |
0.71 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.85 |
0.92 |
0.95 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.29 |
2.36 |
2.28 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.68 |
0.73 |
0.74 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.53 |
1.45 |
1.44 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
1.22 |
0.85 |
0.86 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.42 |
0.92 |
0.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.94 |
3.19 |
3.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.21 |
1.14 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.73 |
0.76 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.29 |
0.29 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
10.91 |
11.24 |
11.23 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.21 |
1.14 |
1.13 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 98.00/- |
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 |
86.388 |
86.388 |
86.388 |
|
Reserves & Surplus |
934.290 |
966.550 |
1018.301 |
|
Net
worth |
1020.678 |
1052.938 |
1104.689 |
|
|
|
|
|
|
Long-Term Borrowings |
52.901 |
82.101 |
75.124 |
|
Short Term Borrowings |
879.384 |
854.714 |
867.448 |
|
Total
borrowings |
932.285 |
936.815 |
942.572 |
|
Debt/Equity
ratio |
0.913 |
0.890 |
0.853 |
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 |
3601.101 |
3930.532 |
4465.597 |
|
|
|
9.148 |
13.613 |
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
|
3601.101 |
3930.532 |
4465.597 |
|
Profit/(Loss) |
30.984 |
33.591 |
54.622 |
|
|
0.86% |
0.85% |
1.22% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
86.388 |
86.388 |
|
(b) Reserves &
Surplus |
1031.559 |
976.931 |
|
(c) Non-controlling
interest |
6.190 |
5.837 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1124.137 |
1069.156 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
75.124 |
82.101 |
|
(b) Deferred tax
liabilities (Net) |
41.900 |
44.564 |
|
(c) Other long term
liabilities |
83.782 |
0.000 |
|
(d) long-term provisions |
6.307 |
4.087 |
|
Total Non-current
Liabilities (3) |
207.113 |
130.752 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
887.379 |
874.599 |
|
(b) Trade payables |
1494.151 |
1586.393 |
|
(c) Other current
liabilities |
214.801 |
143.440 |
|
(d) Short-term provisions |
6.881 |
30.985 |
|
Total Current Liabilities
(4) |
2603.212 |
2635.417 |
|
|
|
|
|
TOTAL |
3934.462 |
3835.325 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
757.114 |
724.471 |
|
(ii) Intangible Assets |
0.455 |
1.156 |
|
(iii) Capital
work-in-progress |
0.000 |
45.789 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(v) Goodwill |
2.377 |
0.000 |
|
(b) Non-current Investments |
0.002 |
0.002 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
62.879 |
|
(e) Other Non-current
assets |
28.537 |
0.000 |
|
Total Non-Current Assets |
788.485 |
834.297 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
1261.374 |
992.898 |
|
(c) Trade receivables |
1594.440 |
1728.265 |
|
(d) Cash and cash
equivalents |
163.292 |
147.429 |
|
(e) Short-term loans and
advances |
4.441 |
67.418 |
|
(f) Other current assets |
122.430 |
65.018 |
|
Total Current Assets |
3145.977 |
3001.028 |
|
|
|
|
|
TOTAL |
3934.462 |
3835.325 |
PROFIT
AND LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
Income |
4466.702 |
3949.923 |
|
|
Other Income |
0.000 |
9.237 |
|
|
TOTAL |
4466.702 |
3959.160 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials
Consumed |
3879.281 |
3272.209 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(304.660) |
(87.469) |
|
|
Employees benefits
expense |
162.430 |
156.488 |
|
|
Other expenses |
306.115 |
253.197 |
|
|
TOTAL |
4043.166 |
3594.425 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
423.536 |
364.735 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
277.401 |
249.791 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
146.135 |
114.944 |
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
66.501 |
61.391 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
79.634 |
53.553 |
|
|
|
|
|
|
Less |
TAX |
23.209 |
17.732 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
56.425 |
35.821 |
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.49 |
4.15 |
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 |
No |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PRINCIPAL BUSINESS ACTIVITIES OF THE
COMPANY
The company is engaged in the manufacture of Power, EHV, Distribution Transformers up to 315 MVA in 400 KV class, and has entered into the elite league of manufacturers of 400 KV transformers in the country.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2018 INR
In Million |
31.03.2017 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Loans
and advances from related parties |
NA |
7.000 |
|
Loans and advances from Body Corporate |
NA |
8.500 |
|
|
|
|
|
Total |
NA |
15.500 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G46686796 |
100061639 |
STATE BANK OF INDIA |
29/10/2016 |
24/05/2017 |
- |
90000000.0 |
CORPORATE FINANCE BRANCH11-C, MITTAL TOWER, 210, NARIMAN POINTMUMBAI |
|
2 |
C56059801 |
10574166 |
STATE BANK OF INDIA |
23/05/2015 |
- |
- |
84700000.0 |
COMMERCIAL BRANCH (ADVANCES), N.G.N. VAIDHYA MARG,BANK STREET, HORNIMAN CIRCLE, FORT,MUMBAIMH400001IN |
|
3 |
C54275599 |
10570693 |
BANK OF INDIA |
28/04/2015 |
- |
- |
167600000.0 |
MUMBAI MID-CORPORATE BRANCH,BANK OF INDIA BUILDINGMEZZANINE FLOOR, 70-80, MAHATMA GANDHI ROAD, FORT,MUMBAIMH400001IN |
|
4 |
C54182886 |
10570493 |
STATE BANK OF HYDERABAD |
28/04/2015 |
- |
- |
122900000.0 |
11-C, MITTAL TOWER, 2101ST FLOOR, NARIMAN POINTMUMBAIMH400021IN |
|
5 |
C51390151 |
10565086 |
IDBI BANK LIMITED |
30/03/2015 |
- |
- |
483500000.0 |
224 'A' WING, 2ND FLOOR, NARIMAN POINT,MUMBAIMH400021IN |
|
6 |
C49431984 |
10519183 |
KARNATAKA BANK LTD. |
13/08/2014 |
03/03/2015 |
- |
95000000.0 |
294-A, HAROON HOUSE,PERIN NARIMAN STREET, BEHIND RBI, FORTMUMBAIMH400001IN |
|
7 |
C09566555 |
10506435 |
BANK OF INDIA |
03/07/2014 |
- |
- |
21900000.0 |
MUMBAI MID-CORPORATE BRANCH,BANK OF INDIA BUILDINGMEZZANINE FLOOR, 70-80, MAHATMA GANDHI ROAD, FORT,MUMBAIMH400001IN |
|
8 |
C02936870 |
10489039 |
STATE BANK OF HYDERABAD |
11/04/2014 |
- |
- |
706000000.0 |
STATE BANK OF HYDERABAD1ST FLOOR, NARIMAN POINTMUMBAIMH400021IN |
|
9 |
B85887024 |
10451389 |
AXIS BANK LIMITED |
16/09/2013 |
- |
- |
405000000.0 |
AXIS HOUSE, C-2, WADIA INTERNATIONAL CENTRE,PANDURANG BUDHKAR MARG, WORLIMUMBAIMH400025IN |
|
10 |
C36384667 |
10447142 |
IDBI BANK LIMITED |
28/08/2013 |
04/12/2014 |
- |
200000000.0 |
224 'A' WING, 2ND FLOOR, NARIMAN POINTMUMBAIMH400021IN |
CONTINGENT
LIABILITIES (TO THE EXTENT NOT PROVIDED FOR)
|
PARTICULAR |
31.03.2018 INR
In Million |
31.03.2017 INR
In Million |
|
a) Claims against the Company not acknowledged as debt |
NA |
18.155 |
|
b) Performance, Counter and Advance Guarantees EMD |
NA |
1500.337 |
|
c) Corporate guarantee given to the banks on behalf of related party - IMP Energy Limited |
NA |
220.000 |
FIXED ASSETS:
· Free Hold Land
· Building and HO Building
· Plant and Machineries
· Electrical Installation
· Air Conditioning Equipments
· Furniture and Fixtures
· Office Equipments
· Cars and Vehicles
· 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,
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 64.08 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
NKT |
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.