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|
|
MIRA
INFORM REPORT
|
Report No. : |
510962 |
|
Report Date : |
23.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
INDO-TECH TRANSFORMERS LIMITED |
|
|
|
|
Registered
Office : |
Survey No.153-210, Illuppapattu Village, Post Rajakulam, 64 K.M. Chennai-Bangalore Highway, Kancheepuram District -631561, Tamilnadu |
|
Tel. No.: |
91-44 - 30289 873 / 37290518 |
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|
Country : |
India |
|
|
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
16.01.1992 |
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Com. Reg. No.: |
18-022011 |
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Capital
Investment / Paid-up Capital : |
INR 106.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29113TN1992PLC022011 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No: |
33221662114 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
33AAACI5775P1Z2 |
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|
|
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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.] |
AAACI5775P |
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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 the business of manufacturing power and distribution transformers and various special application transformers, mobile sub-station transformers and sub-stations. (Registered Activity) |
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|
No. of Employees
(As on 31.03.2017) |
294 (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 : |
Subject was incorporated in the year 1992. It is a subsidiary of
Prolec GE Internacional, S De R. L de C.V. Mexico. The company is engaged in the business of manufacturing power and distribution
transformers and various special application transformers, mobile sub-station
transformers and sub-stations. For the financial year ended 2018, the company has achieved a fair
growth in its revenue as compared to
the previous year’s revenue and has incurred operational losses. The overall financial position of the company seems to be healthy
marked by sound net worth base along with zero debt balance sheet profile. Rating takes into consideration the strength that the company derives
from its holding company and its experienced management team. The company has its share price trading as around INR 175.75 on BSE as
on MY 23, 2018 as against the face value (FV) of INR 10. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition.
|
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 Loans (BBB-) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
08.08.2017 |
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
Management non-cooperative (Tel No.: 91-44-37290518/ 30289854)
LOCATIONS
|
Registered Office/ Factory 1/ Service Center: |
Survey No.153-210, Illuppapattu Village, Post Rajakulam, 64 K.M. Chennai-Bangalore Highway, Kancheepuram District -631561, Tamilnadu, India |
|
Tel. No.: |
91-44 - 30289 873 / 37290518 |
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Fax No.: |
91-44 – 37290547/ 37290518 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office 1: |
DLF Cyber City, Sector 25A, DLF Phase III, Building No. 7 A, Gurugram – 122002, Haryana, India |
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Tel. No.: |
91 - 124 - 4808502 |
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|
|
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Sales Office 2: |
Kamak Towers, III Floor, 12A Thiruvika Industrial Estate, Ekkatuthangal, Guindy – 600032, Tamilnadu, India |
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Tel. No.: |
91 - 44 - 49681402 |
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|
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Sales Office 3: |
6th Floor, Tower B, RMZ infinity, Old Madras Road, Bangalore – 560016, Karnataka, India |
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Tel. No.: |
91 - 80 - 40482398 |
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|
|
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Sales Office 4: |
5th Floor, Ashoka Janardhan Chambers, 1-10-72, SP Road, Begumpet, Secunderabad – 500016, Telangana, India |
|
Tel. No.: |
91 - 40 - 4004 0440 |
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|
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Sales Office 5: |
Vatika Business Centre, 7th Floor, Wing-B, Supreme Business Park (Behind Lake Castle Building), Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Tel. No.: |
91 - 22 - 42019198 |
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|
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Sales Office 6: |
22, Mangalam Business Centre, 6th Floor, Camac Street, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91 – 33-33640226 |
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Factory 2 : |
DP-36, SIDCO Industrial Estate, Thirumazhisai, Chennai - 600124, Tamilnadu, India |
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Tel. No.: |
91- 44 - 30289 830 / 33 / 36 |
|
Fax No.: |
91- 44 - 30289 820 |
DIRECTORS
As on 2018
|
Name : |
Milagiripattu Sundaravaradan Srinivasan |
|
Designation : |
Director |
|
Address : |
Plot No. 1013, T.V.S. Colony, 42nd Street, Anna Nagar, West Extension, Chennai-600101, Tamilnadu, India |
|
Date of Appointment : |
01.08.2009 |
|
DIN No: |
00261201 |
|
|
|
|
Name : |
Pallavur Venkateswaran Krishna |
|
Designation : |
Director |
|
Address : |
C/1308A, Kukreja Residency, W. T. Patil Road, Village Borla, Chembur, Mumbai-400071, Maharashtra, India |
|
Date of Appointment : |
27.05.2015 |
|
DIN No: |
02459872 |
|
|
|
|
Name : |
Tabassum Mustafa Wajid |
|
Designation : |
Director |
|
Address : |
327, A. T. H. Layout, Shanthi Nagar, Bangalore-560027, Karnataka, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No: |
06904452 |
|
|
|
|
Name : |
Ricardo Garza Suarez |
|
Designation : |
Director |
|
Address : |
Plat No. 210, Pericles 8, KVA X Lot Residency Chipinque Garzo Garcia 66297 Mexico |
|
Date of Appointment : |
27.05.2015 |
|
DIN No: |
07194157 |
|
|
|
|
Name : |
Mr. Ajay Kumar Sinha |
|
Designation : |
Wholetime Director/ Chief Executive Officer |
|
Address : |
9/102, Sky City Apartments, Vanagaram, Chennai-600095, Tamilnadu, India |
|
Date of Appointment : |
29.11.2017 |
|
PAN No.: |
|
|
DIN No: |
07972409 |
|
|
|
|
Name : |
Mr. Anthony Benoit Vincent Allard |
|
Designation : |
Additional Director |
|
Address : |
770 P ST, NW # 301, Washington DC 20001 United States |
|
Date of Appointment : |
29.11.2017 |
|
DIN No: |
07992699 |
KEY EXECUTIVES
|
Name : |
Mr. Sathyamoorthy Arumugam |
|
Designation : |
Company Secretary |
|
Address : |
36/31-3, Bajany Koil Street, Oliyanallur, Arakkonam-631052, Tamilnadu, India |
|
Date of Appointment : |
29.12.2015 |
|
PAN No.: |
DWZPS3394P |
|
|
|
|
Name : |
Mr. Abhishek Dalmia |
|
Designation : |
Chief Finance Executive |
|
Address : |
No. 228, 23 Main, 16 Cross, J.P., Nagar, 5 Phase, Bangalore- 560078, Karnataka, India |
|
Date of Appointment : |
25.05.2016 |
|
PAN No.: |
AANPD9310M |
MAJOR SHAREHOLDERS
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 % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
7895625 |
74.35 |
|
|
(B) Public |
2724375 |
25.65 |
|
|
Grand Total |
10620000 |
100.00 |
|
Statement showing shareholding pattern
of the Promoter and Promoter Group
|
Category of
shareholder |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
A2) Foreign |
0.00 |
||
|
Any Other (specify) |
7895625 |
74.35 |
|
|
Prolec Ge Internacional, S.De R.L. De C.V. |
7895625 |
74.35 |
|
|
Sub Total A2 |
7895625 |
74.35 |
|
|
A=A1+A2 |
7895625 |
74.35 |
Statement showing shareholding pattern of the Public
shareholder
|
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 |
|
|
Financial Institutions/ Banks |
2873 |
0.03 |
|
|
Sub Total B1 |
2873 |
0.03 |
|
|
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 |
1659232 |
15.62 |
|
|
Individual share capital upto INR 0.200
million |
120576 |
1.14 |
|
|
Any Other (specify) |
941694 |
8.87 |
|
|
HUF |
216478 |
2.04 |
|
|
NRI – Non- Repat |
8974 |
0.08 |
|
|
NRI – Repat |
30226 |
0.28 |
|
|
Clearing Members |
177917 |
1.68 |
|
|
Bodies Corporate |
508099 |
4.78 |
|
|
Sub Total B3 |
2721502 |
25.63 |
|
|
B=B1+B2+B3 |
2724375 |
25.65 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the business of manufacturing power and distribution transformers and various special application transformers, mobile sub-station transformers and sub-stations. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees
(As on 31.03.2017) |
294 (Approximately) |
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Bankers : |
|
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Auditors : |
|
|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
No.10, Mahatma Gandhi Road, Nungambakkam, Chennai-600 034, Tamilnadu, India |
|
Tel. No.: |
91-44-39145000 |
|
Fax No.: |
91-44-39145999 |
|
|
|
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Secretarial
Auditors |
|
|
Name : |
J B Bhave and Company Company Secretaries, |
|
Address : |
Pune, Maharashtra, India |
|
|
|
|
Internal Auditors (As on
31.03.2017): |
|
|
Name : |
G Balu and Associates Chartered Accountants |
|
Address : |
Chennai, Tamilnadu, India |
|
|
|
|
Cost Auditors |
|
|
Name : |
J. G. and Company Cost Accountants |
|
Address : |
Chennai, Tamilnadu, India |
|
|
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|
Company Secretary
& Compliance Officer (As on 31.03.2017): |
Sathyamoorthy A. |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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Holding Company (As on
31.03.2017): |
Prolec GE Internacional, S de R.L de C.V., Mexico |
|
|
|
|
Ultimate holding
company (As on 31.03.2017): |
Xignux S.A. de C.V., Mexico |
|
|
|
|
Fellow subsidiary (As on
31.03.2017): |
Prolec S.A. de C.V., Mexico |
CAPITAL STRUCTURE
AS ON: 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 106.200
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15300000 |
Equity Shares |
INR 10 /- each |
INR 153.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10620000 |
Equity Shares |
INR 10 /- each |
INR 106.200 Million |
|
|
|
|
|
a) Terms /
rights attached to equity shares
The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in the Company’s residual assets. The equity shares are entitled to receive dividend as declared from time to time. The voting rights of an equity shareholder in a poll (not on show of hands) are in proportion to its share of the paid-up equity capital of the Company. During the year ended March 31, 2017, the Company has not declared any dividend.
On winding up of the Company the holders of equity shares will be entitled to receive the residual assets of the company, remaining after distribution of all preferential amounts in proportion to the number of equity shares held.
b) Reconciliation of
the shares outstanding at the beginning and at the end of the year is as under
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
At the commencement and at the end of the year |
10620000 |
106.200 |
c) Shares held by
holding company and / or their subsidiaries / associates
|
Particulars |
31.03.2017 |
|
|
Number |
INR In Million |
|
|
Equity shares of INR 10 each fully paid up held by: Prolec GE Internacional, S de R.L de C.V., Mexico, the holding Company |
7895625 |
78.956 |
d) Details of
shareholders holding more than 5% of the shares in the Company
|
Particulars |
31.03.2017 |
|
|
Number |
% of holding |
|
|
Equity shares of INR 10 each fully paid up held by: Prolec GE Internacional, S de R.L de C.V., Mexico, the holding Company |
7895625 |
74.35% |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
106.200 |
106.200 |
106.200 |
|
(b) Reserves & Surplus |
1234.800 |
1279.847 |
1442.515 |
|
(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) |
1341.000 |
1386.047 |
1548.715 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
13.400 |
9.848 |
14.361 |
|
Total Non-current
Liabilities (3) |
13.400 |
9.848 |
14.361 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
553.500 |
382.738 |
418.596 |
|
(c) Other
current liabilities |
157.200 |
182.557 |
134.534 |
|
(d) Short-term
provisions |
21.600 |
48.205 |
10.711 |
|
Total Current
Liabilities (4) |
732.300 |
613.500 |
563.841 |
|
|
|
|
|
|
TOTAL |
2086.700 |
2009.395 |
2126.917 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
503.400 |
542.931 |
621.485 |
|
(ii) Intangible
Assets |
0.800 |
0.161 |
0.382 |
|
(iii)
Capital work-in-progress |
2.100 |
3.642 |
0.575 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.300 |
75.847 |
64.737 |
|
(e) Other
Non-current assets |
47.700 |
2.978 |
13.935 |
|
Total Non-Current
Assets |
571.300 |
625.559 |
701.114 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
429.800 |
471.091 |
352.066 |
|
(c) Trade
receivables |
794.900 |
597.426 |
646.071 |
|
(d) Cash
and cash equivalents |
127.100 |
101.962 |
234.213 |
|
(e)
Short-term loans and advances |
0.000 |
158.743 |
181.884 |
|
(f) Other
current assets |
163.600 |
54.614 |
11.569 |
|
Total
Current Assets |
1515.400 |
1383.836 |
1425.803 |
|
|
|
|
|
|
TOTAL |
2086.700 |
2009.395 |
2126.917 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
2201.700 |
1488.073 |
1898.731 |
|
|
Other Income |
45.500 |
16.489 |
127.575 |
|
|
TOTAL |
2247.200 |
1504.562 |
2026.306 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1616.200 |
1238.373 |
1475.303 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
130.900 |
(140.727) |
33.442 |
|
|
Employees benefits
expense |
183.500 |
171.532 |
160.727 |
|
|
Other expenses |
301.600 |
317.491 |
263.079 |
|
|
TOTAL |
2232.200 |
1586.669 |
1932.551 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
15.000 |
(82.107) |
93.755 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.700 |
10.333 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
10.300 |
(92.440) |
93.755 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
47.400 |
48.164 |
53.510 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(37.100) |
(140.604) |
40.245 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
22.065 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(37.100) |
(162.669) |
40.245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Exports on FOB basis |
NA |
94.743 |
0.000 |
|
|
Salary and other expenses
for the year |
NA |
1.718 |
28.123 |
|
|
Salary for earlier years |
NA |
0.000 |
0.000 |
|
|
Subvention money receipt |
NA |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
96.461 |
28.123 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw material and stores
and spares |
NA |
10.845 |
17.667 |
|
|
TOTAL IMPORTS |
NA |
10.845 |
17.667 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(3.49) |
(15.32) |
3.79 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
(117.121) |
(25.077) |
|
Net cash flows from (used in) operating activity |
NA |
(117.829) |
(26.755) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
131.78 |
146.54 |
124.20 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.77 |
2.49 |
2.94 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
125.00 |
112.81 |
103.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.03 |
(0.17) |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.03 |
(0.15) |
0.15 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.35 |
0.31 |
0.27 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.55 |
0.44 |
0.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.38 |
0.39 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.19 |
(7.95) |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(1.69) |
(10.93) |
2.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(1.78) |
(8.10) |
1.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(2.77) |
(11.74) |
2.60 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.07 |
2.26 |
2.53 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.48 |
1.49 |
1.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.64 |
0.69 |
0.73 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.07 |
2.26 |
2.53 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 10.00/ |
|
Market Value |
INR 175.75/ |
FINANCIAL ANALYSIS
[all figures are
in 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 |
106.200 |
106.200 |
106.200 |
|
Reserves & Surplus |
1442.515 |
1279.847 |
1234.800 |
|
Net
worth |
1548.715 |
1386.047 |
1341.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
1898.731 |
1488.073 |
2201.700 |
|
|
|
(21.628) |
47.956 |
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 |
1898.731 |
1488.073 |
2201.700 |
|
Profit (Loss) |
40.245 |
(162.669) |
(37.100) |
|
|
2.12% |
(10.93%) |
(1.69%) |
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 |
No |
|
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 |
No |
|
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 two/ three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
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 |
COMPANY OVERVIEW (As
on 31.03.2017)
The Company is engaged in the business of manufacturing power and distribution transformers and various special application transformers, mobile sub-station transformers and sub-stations. The Company has manufacturing plants located at Chennai and Kancheepuram in Tamil Nadu.
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G78185469 |
100157560 |
INDUSIND BANK LTD. |
13/02/2018 |
- |
- |
592046.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMa411001IN |
|
2 |
G06571988 |
100035933 |
BANK OF BARODA |
03/06/2016 |
- |
- |
270000000.0 |
Corporate Financial Services Branch, 2nd floor74, Theagaraya Road, Pondy BazarChennaiTN600017IN |
|
3 |
Y10413459 |
90290532 |
STATE BANK OF INDIA |
11/01/2005 |
01/12/2005 |
- |
194000000.0 |
OVERSEAS BRANCHCHENNAITN600001IN |
|
4 |
C80915614 |
90289237 |
State Bank of India |
11/01/2005 |
10/02/2016 |
- |
470000000.0 |
Overseas BranchNo.86. Rajaji SalaiChennaiTN600001IN |
|
5 |
Y10426617 |
90303690 |
BANK OF BARODA |
17/09/1997 |
13/01/2001 |
- |
25000000.0 |
T. NAGAR BRANCHT. NAGARCHENNAITN600017IN |
|
6 |
G73412181 |
90305117 |
BANK OF BARODA |
17/09/1997 |
15/12/2017 |
- |
470000000.0 |
74, Theagaraya RoadPondy BazarChennaiTN600124IN |
|
7 |
Y10427944 |
90305017 |
BANK OF BARODA |
22/04/1996 |
22/04/1996 |
- |
333500000.0 |
T. NAGARMADRASTN600017IN |
|
8 |
G78215118 |
90307621 |
INDUS IND BANK LIMITED |
15/07/1996 |
23/02/2004 |
31/01/2018 |
40000000.0 |
NO. 3 VILLAGE ROADNUNGAMBAKKAMCHENNAITN600035IN |
|
9 |
C43017995 |
10081237 |
Standard Chartered Bank |
25/12/2007 |
07/01/2008 |
20/01/2015 |
100000000.0 |
19, Rajaji SalaiChennaiTN600001IN |
|
10 |
C43018639 |
80015956 |
Standard Chartered Bank |
03/05/2006 |
20/06/2008 |
20/01/2015 |
350000000.0 |
19, Rajaji SalaiChennaiTN600001IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2018 (INR
in Million) |
31.03.2017 (INR
in Million) |
|
Disputed sales tax / income tax / service tax |
NA |
31.315 |
|
Sales tax - During the year 2011-2012, the Company had received sales tax assessment orders raising demand of INR 1.421 million and INR 1.421 million for FY 2005-06 and FY 2006-07 respectively. The Company had paid INR 2.500 million (under protest) against these orders. Any liability in respect of these orders will be met by the ex-promoters to the benefit of the Company. |
||
FIXED ASSETS
- Land
- Building
- Furniture and Fixture
- Computer
- Office equipments
- Plant and Machinery
- Vehicle
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 68.09 |
|
|
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.