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MIRA INFORM REPORT
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Report No. : |
510420 |
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Report Date : |
23.05.2018 |
IDENTIFICATION DETAILS
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Name : |
KEI INDUSTRIES
LIMITED |
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Registered
Office : |
D-90, Okhla Industrial Area, Phase I, New Delhi - 110020 |
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Tel. No.: |
91-11-26818840/ 8642 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
31.12.1992 |
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Com. Reg. No.: |
55-051527 |
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Capital
Investment / Paid-up Capital : |
INR 155.590 Million |
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CIN No.: [Company Identification
No.] |
L74899DL1992PLC051527 |
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IEC No.: |
0589000110 |
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GSTIN/UIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK0251C |
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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 manufacture of a range of world-class wires (stainless steel wire) and cables (cables comprising of EHV, HT and LT power cables, control and instrumentation cables, winding wires and flexible and house wires) and also engaged into Turnkey projects etc. [Registered Activity] |
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No. of Employees
(As on 31.03.2017): |
1184 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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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 and it is a manufacturer of electrical cables and wires. For the financial year 2018, the company has achieved 30.99% growth in its revenue as compared to previous year revenue and has maintained average profitability margin of 4.13% during the year under review. The healthy financial profile of the company by as marked strong net worth base along with comfortable debt coverage indicators. The rating takes into consideration equity infused by its promoters. The rating also takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. The company has its share price trading at around INR 463.40 against the Face Value (FV) of INR 02 on BSE as on May, 23 2018. However, rating strengths are partially offset by leveraged capital structure, working capital-intensive nature of operations, inherent risks associated with the exposure to volatility in raw material prices and competition in the cable industry. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered good 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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
Cash Credit Limit = A- |
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Rating Explanation |
Adequate degree of safety and low credit risk |
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Date |
08.09.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Non Fund Based Limit = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
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Date |
08.09.2017 |
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 BY
|
Name : |
Mr. Milind |
|
Designation : |
Accounts Department |
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Contact No.: |
91-22-28239673 |
|
Date : |
19.05.2018 |
Management non-cooperative (Tel No.:91-26818840)
LOCATIONS
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Registered/ Corporate Office : |
D-90, Okhla Industrial Area, Phase I, New Delhi – 110020, India |
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Tel. No.: |
91-11-26818840/ 8642/ 0242 |
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Mobile No.: |
91-8860084506 (Mr. Mukul) |
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Fax No.: |
91-11-26817225/ 26811959 |
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E-Mail : |
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Website : |
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Marketing Office |
Nirvan Corporate, 7th Floor, Opposite Aghadi Nagar Pump House, Rajmata Jijabai Road, Andheri (East), Mumbai – 400093, Maharashtra India |
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Tel. No.: |
91-22-28239673/ 28375642 |
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Fax No.: |
91-22-28258277 |
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Factory 1: |
SP-919-920, 922 RIICO Industrial Area, Phase-III, Bhiwadi, District Alwar-301019, Rajasthan, India |
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Tel. No.: |
91-1493-220106/ 220106 |
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Fax No.: |
91-1493-221731 |
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Factory 2: |
99/2/7, Madhuban Industrial Estate, Village Rakholi, Silvassa – 396240, Dadra and Nagar Haveli (U.T), India |
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Tel. No.: |
91-260-2644404 |
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Fax No.: |
91-260-2645896 |
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Factory 3: |
Plot No. A-280-284, RIICO Industrial Area, Chopanki, District Alwar-301019, Rajasthan, India |
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Branch Office 1: |
Flat No.: 10, 1st floor, Rams Apartment, New No. 68, (old No. 141), Eldams Road, Teynampet, Chennai – 6000018, Tamilnadu, India |
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Tel. No.: |
91-44-42009120 |
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Fax No.: |
91-44-42009130 |
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Branch Office 2: |
Nirvan Corporate, 7th floor, Opposite Aghadi Nagar, Pump House, Rajmata Jijabai Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-28239673/ 28375642 |
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Fax No.: |
91-22-28258277 |
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Branch Office 3: |
Arihanth Benchmark, 4th Floor, 113-F, Matheshwartola Road Ps. Tiljala, Kolkata – 700046, West Bengal, India |
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Tel. No.: |
91-33-40620820/ 40620822 |
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Fax No.: |
91-33-4062032 |
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Branch Offices: |
Also Located At:
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Company Depots : |
Located at:
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Marketing Office Overseas : |
Located At:
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DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Anil Gupta |
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Designation : |
Managing Director |
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Address : |
A-7, Puspanjali Farm Bijwasan, South West, Delhi – 110061, India |
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Date of Birth/Age : |
24.05.1959 |
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Date of Appointment : |
31.12.1992 |
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DIN No.: |
00006422 |
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Name : |
Mr. Vijay Bhushan |
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Designation : |
Director |
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Address : |
B - 5 Swasthya Vihar, Delhi – 110092, India |
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Date of Appointment : |
02.08.1994 |
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DIN No.: |
00002421 |
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|
Name : |
Mrs. Archana Gupta |
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Designation : |
Director |
|
Address : |
A-7, Puspanjali Farm Bijwasan, South West, Delhi – 110061, India |
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Date of Birth/Age : |
23.07.1961 |
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Date of Appointment : |
31.01.2005 |
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DIN No.: |
00006459 |
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Name : |
Mr. Vikram Bhartia |
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Designation : |
Director |
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Address : |
H-27/222-D, Sainik Farms, New Delhi – 110062, India |
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Date of Appointment : |
02.08.1994 |
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DIN No.: |
00013654 |
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|
Name : |
Mr. Kishan Gopal Somani |
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Designation : |
Director |
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Address : |
163, Tagore Park, New Delhi – 110009, India |
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Date of Appointment : |
02.08.1994 |
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DIN No.: |
00014648 |
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Name : |
Mr. Pawan Bholusaria |
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Designation : |
Director |
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Address : |
26/11 Shakti Nagar, New Delhi – 110007, India |
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Date of Appointment : |
23.07.1993 |
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DIN No.: |
00092492 |
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|
Name : |
Mr. Rajeev Gupta |
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Designation : |
Director |
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Address : |
D-269, Anand Vihar, Delhi – 110092, India |
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Date of Birth/Age : |
52 Years |
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Date of Appointment : |
01.06.2015 |
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PAN No : |
AEHPG4730Q |
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DIN No.: |
00128865 |
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|
Name : |
Mr. Akshit Diviaj Gupta |
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Designation : |
Director |
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Address : |
A-7, Puspanjali Farm Bijwasan, South West, Delhi – 110061, India |
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Date of Appointment : |
10.05.2017 |
|
DIN No.: |
07814690 |
KEY EXECUTIVES
|
Name : |
Mr. Rajeev Gupta |
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Designation : |
Chief Financial Officer |
|
Address : |
D-269, Anand Vihar, Delhi – 110092, India |
|
Date of Appointment : |
01.10.2014 |
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PAN No.: |
AEHPG4730Q |
|
Name : |
Mr. Kishore Kunal |
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Designation : |
Company Secretary and Compliance Officer |
|
Address : |
172C Pocket F Mayur, Vihar, New Delhi - 110092, India |
|
Date of Appointment : |
31.01.2005 |
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PAN No.: |
AOSPK2270C |
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|
Name : |
Mr. Milind |
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Designation : |
Accounts Department |
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Key Management
Personnel: |
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SHAREHOLDING PATTERN
AS ON MARCH 2018
|
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) Promoter & Promoter Group |
36248466 |
46.26 |
|
|
(B) Public |
42112972 |
53.74 |
|
|
Grand Total |
78361438 |
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 |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
19168466 |
24.46 |
|
|
Anil Gupta HUF |
4650375 |
5.93 |
|
|
Archana Gupta |
837315 |
1.07 |
|
|
Anil Gupta |
13680776 |
17.46 |
|
|
Any Other (specify) |
17080000 |
21.80 |
|
|
KEI Cables Pvt. Ltd. |
1575000 |
2.01 |
|
|
Projection Financial Management Consultants Pvt. Ltd. |
7900000 |
10.08 |
|
|
Dhan Versha Agency Pvt. Ltd. |
1000000 |
1.28 |
|
|
Shubh Laxmi Motels and Inns Pvt. Ltd. |
3480000 |
4.44 |
|
|
Soubhagya Agency Pvt. Ltd. |
3125000 |
3.99 |
|
|
Sub Total A1 |
36248466 |
46.26 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
36248466 |
46.26 |
STATEMENT
SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
9295630 |
11.86 |
|
|
HDFC Trustee Co Ltd A/C HDFC Retirement Saving Fund-Equity Plan |
799096 |
1.02 |
|
|
IDFC Tax Advantage (ELSS) Fund |
910000 |
1.16 |
|
|
Franklim Templeton Mutual Fund A/C Franklin Build India Fund (FBIF) |
5220550 |
6.66 |
|
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Alternate Investment Funds |
275000 |
0.35 |
|
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Foreign Portfolio Investors |
6069386 |
7.75 |
|
|
Financial Institutions/ Banks |
150084 |
0.19 |
|
|
Any Other (specify) |
80462 |
0.10 |
|
|
Sub Total B1 |
15870562 |
20.25 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
12768071 |
16.29 |
|
|
Individual share capital in excess of INR 0.200 Million |
8811017 |
11.24 |
|
|
Ajay Upadyaya |
1000000 |
1.28 |
|
|
Ashish Kacholia |
2491608 |
3.18 |
|
|
Ashish Agarwal |
1327312 |
1.69 |
|
|
Madhulika Agarwal |
1137484 |
1.45 |
|
|
NBFCs registered with RBI |
716474 |
0.91 |
|
|
Any Other (specify) |
3946848 |
5.04 |
|
|
Bodies Corporate |
2475985 |
3.16 |
|
|
NRI/OCB |
637619 |
0.81 |
|
|
Clearing Members |
239653 |
0.31 |
|
|
Trusts |
15986 |
0.02 |
|
|
Director or Director's Relatives |
408210 |
0.52 |
|
|
Unclaimed or Suspense or Escrow Account |
169395 |
0.22 |
|
|
Sub Total B3 |
26242410 |
33.49 |
|
|
B=B1+B2+B3 |
42112972 |
53.74 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture of a range of world-class wires (stainless steel wire) and cables (cables comprising of EHV, HT and LT power cables, control and instrumentation cables, winding wires and flexible and house wires) and also engaged into Turnkey projects etc. [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): |
1184 (Approximately) |
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Bankers (As on 31.03.2017) : |
· Punjab National Bank · Dena Bank · State Bank of India · State Bank of Hyderabad · Kotak Mahindra Bank Limited · ICICI Bank Limited · State Bank of Patiala · State Bank of Bikaner and Jaipur · Indian Overseas Bank · Corporation Bank · IDBI Bank Limited · Bank of India · DCB Bank Limited · The Lakshmi Vilas Bank Limited · United Bank of India ·
Standard Chartered Bank ·
Axis Bank Limited, 2nd Floor, Red Fort
Capital, Parsvnath Towers, Gole Market, Bhai Veer Singh Marg, New Delhi –
110001, India |
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Facilities : |
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Auditors : |
|
|
Name : |
Jagdish Chand and Company Chartered Accountants |
|
Address : |
H 20, LGF, Green Park (Main), New Delhi-110016, India |
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Tel. No.: |
91-11-26511953/ 26533626/ 41759467 |
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Fax No.: |
91-11-26533626 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company (As on 31.03.2017): |
KEI Cables Australia PTY
Limited (w.e.f. 14.12.2015) |
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Jointly controlled entity (As on 31.03.2017): |
Joint Venture KEI Industries
Limited, New Delhi and Brugg Kabel A.G. Switzerland, (Association of Persons) |
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Other related
parties in the group where common control exists (As on 31.03.2017) : |
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Enterprises Over which
person mentioned in (v) above are able to exercise significant control and transactions have
taken place (As on 31.03.2017) : |
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CAPITAL STRUCTURE
As on 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 156.720
Million
AS ON 19.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
INR 2/- each |
INR 220.000 Million |
|
300000 |
Preference Shares |
INR 100/- each |
INR 30.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
78361438 |
Equity Shares |
INR 02/- each |
INR 156.723
Million |
|
|
|
|
|
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
INR 2/- each |
INR 220.000 Million |
|
300000 |
Preference Shares |
INR 100/- each |
INR 30.000 Million |
|
|
Total |
|
INR 250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77797438 |
Equity Shares |
INR 02/- each |
INR 155.590
Million |
|
|
|
|
|
Rights, preferences and
restrictions attached to shares:
Equity Shares: The company has issued one class of equity shares having face 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.
Reconciliation of Number of
Equity Shares:
|
Particulars |
|
As at 31st March, 2017 |
|
|
|
|
Nos. |
(INR in Millions) |
|
Balance as at the beginning of the year |
|
77237438 |
154.470 |
|
Add: Issued during the Year |
|
560000 |
1.120 |
|
Balance as at the end of the year |
|
77797438 |
155.590 |
During the year 560000
(Previous Year NIL) Equity Shares of face value INR 2/- each were issued to eligible
employees of the Company under KEI Employees Stock Option Scheme-2015, at an
exercise price of INR 35/- per equity share.
List of Equity Shareholders holding more than 5% of the aggregate Equity
Shares:
|
Name of Shareholder |
|
As at 31st March, 2017 |
|
|
|
|
Nos. |
% age |
|
Mr. Anil Gupta |
|
13680776 |
17.59% |
|
M/s Anil Gupta HUF
beneficiary Mr. Anil Gupta |
|
4650375 |
5.98% |
|
M/s Projection
Financial and Management |
|
7900000 |
10.15% |
|
Consultants Private
Limited |
|
|
|
|
IDFC Sterling
Equity Fund |
|
1512244 |
1.94% |
|
Franklin Templeton
Mutual Fund A/c Franklin |
|
4500000 |
5.78% |
|
India High Growth
Companies Fund |
|
|
|
Shares reserved for issue
under KEI Employees Stock Option Scheme, 2015:
During the year, Share Allotment Committee of the Board has issued and
allotted 560000 (Previous Year NIL) Equity Shares of face value of INR 2/- each to eligible
employees at an exercise Price of INR 35/- per share, out of total 2252000 Options granted under KEI Employees
Stock Option Scheme 2015. Accordingly 1692000 Equity shares (Previous Year
2252000) of INR 2/- each are reserved for the issue under KEI Employees Stock Option
Scheme 2015
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
156.720 |
155.590 |
154.470 |
|
(b) Reserves &
Surplus |
5888.600 |
4578.960 |
3511.770 |
|
(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) |
6045.320 |
4734.550 |
3666.240 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1456.820 |
1641.290 |
1881.490 |
|
(b) Deferred tax
liabilities (Net) |
398.440 |
427.200 |
362.440 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
67.210 |
50.620 |
40.020 |
|
Total Non-current
Liabilities (3) |
1922.470 |
2119.110 |
2283.950 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6041.690 |
4898.300 |
2489.950 |
|
(b) Trade payables |
6272.000 |
4805.210 |
4321.670 |
|
(c) Other current
liabilities |
1773.360 |
1499.930 |
1756.690 |
|
(d) Short-term provisions |
111.290 |
52.660 |
110.780 |
|
Total Current Liabilities
(4) |
14198.340 |
11256.100 |
8679.090 |
|
|
|
|
|
|
TOTAL |
22166.130 |
18109.760 |
14629.280 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4039.500 |
4026.870 |
3262.200 |
|
(ii) Intangible Assets |
30.310 |
27.260 |
17.170 |
|
(iii) Capital
work-in-progress |
229.810 |
31.540 |
293.360 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
28.300 |
31.120 |
31.120 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.670 |
47.650 |
222.210 |
|
(e) Other Non-current
assets |
121.390 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4489.980 |
4164.440 |
3826.060 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5555.880 |
4989.240 |
4224.680 |
|
(c) Trade receivables |
10205.860 |
7392.350 |
5673.900 |
|
(d) Cash and cash
equivalents |
763.280 |
369.710 |
57.670 |
|
(e) Short-term loans and
advances |
13.890 |
897.460 |
565.580 |
|
(f) Other current assets |
1137.240 |
296.560 |
281.390 |
|
Total Current Assets |
17676.150 |
13945.320 |
10803.220 |
|
|
|
|
|
|
TOTAL |
22166.130 |
18109.760 |
14629.280 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
34,964.190 |
26,690.930 |
23,255.800 |
|
|
Other Income |
92.990 |
104.060 |
53.480 |
|
|
TOTAL |
35,057.180 |
26,794.990 |
23,309.280 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
24422.770 |
18,686.700 |
15,682.120 |
|
|
Purchases of
Stock-in-Trade |
14.340 |
15.960 |
9.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(326.190) |
(426.760) |
455.340 |
|
|
Employees benefits
expense |
1467.920 |
1,109.490 |
828.370 |
|
|
Other expenses |
4539.660 |
3,982.890 |
3,262.070 |
|
|
Sub-Contractor expense for
turnkey projects |
1085.540 |
579.290 |
595.540 |
|
|
Excise duty |
376.200 |
0.000 |
0.000 |
|
|
TOTAL |
31580.240 |
23947.570 |
20833.240 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3476.940 |
2847.420 |
2476.040 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1113.040 |
1229.250 |
1269.740 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2363.900 |
1618.170 |
1206.300 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
322.300 |
280.440 |
252.860 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2041.600 |
1,337.730 |
953.440 |
|
|
|
|
|
|
|
Less |
TAX |
596.040 |
351.380 |
331.420 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1445.560 |
986.350 |
622.020 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
4854.670 |
2186.280 |
|
|
Packing Materials |
NA |
18.650 |
6.520 |
|
|
Project Materials |
NA |
117.000 |
55.720 |
|
|
Traded Goods |
NA |
0.000 |
0.000 |
|
|
Stores, Spares and Consumables |
NA |
9.670 |
42.980 |
|
|
Capital Goods |
NA |
329.350 |
99.240 |
|
|
TOTAL IMPORTS |
NA |
5329.340 |
2390.740 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
18.510 |
12.720 |
8.050 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
|
|
|
|
From Banks |
NA |
200.000 |
236.050 |
|
Foreign Currency Loans from Banks |
NA |
0.000 |
124.890 |
|
From Others (Non-Banking Financial Company) |
NA |
378.750 |
240.000 |
|
Total |
NA |
578.750 |
600.940 |
|
Cash generated from operations |
NA |
342.53 |
2047.770 |
|
Net cash flow from (used in) operations |
NA |
38.310 |
1851.660 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors /Income * 365 Days) |
106.54 |
101.09 |
89.05 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.43 |
3.61 |
4.10 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
93.68 |
93.78 |
100.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.63 |
0.57 |
0.59 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.81 |
0.70 |
0.69 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.71 |
0.74 |
0.76 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.24 |
1.50 |
1.36 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.35 |
2.38 |
2.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.71 |
0.86 |
0.97 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.12 |
2.32 |
1.95 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
PAT to Sales [(PAT/Sales) * 100) |
% |
4.13 |
3.70 |
2.67 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.52 |
5.45 |
4.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
23.91 |
20.83 |
16.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.24 |
1.24 |
1.24 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.85 |
0.80 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.27 |
0.26 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
47.85 |
45.75 |
32.19 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.24 |
1.24 |
1.24 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 02.00/- |
|
Market Value |
INR 463.40/- |
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 |
154.470 |
155.590 |
156.720 |
|
Reserves & Surplus |
3511.770 |
4578.960 |
5888.600 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
3666.240 |
4734.550 |
6045.320 |
|
|
|
|
|
|
long-term borrowings |
1881.490 |
1641.290 |
1456.820 |
|
Short term borrowings |
2489.950 |
4898.300 |
6041.690 |
|
Current Maturities of
Long term debt |
600.940 |
578.750 |
0.000 |
|
Total borrowings |
4972.380 |
7118.340 |
7498.510 |
|
Debt/Equity ratio |
1.356 |
1.503 |
1.240 |
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
|
23255.800 |
26690.930 |
34964.190 |
|
|
|
14.771 |
30.997 |
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
|
23255.800 |
26690.930 |
34964.190 |
|
Profit |
622.020 |
986.350 |
1445.560 |
|
|
2.67% |
3.70% |
4.13% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
(1)Shareholders' Funds |
|
|
|
(a) Share Capital |
156.720 |
155.590 |
|
(b) Reserves &
Surplus |
5890.230 |
4579.120 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
6046.950 |
4734.710 |
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
1456.620 |
1641.290 |
|
(b) Deferred tax
liabilities (Net) |
397.200 |
427.200 |
|
(c) Other long term
liabilities |
0.000 |
50.620 |
|
(d) long-term provisions |
67.210 |
0.000 |
|
Total Non-current
Liabilities (3) |
1921.030 |
2119.110 |
|
|
|
|
|
(4) Current Liabilities |
|
|
|
(a) Short term borrowings |
6041.590 |
4898.300 |
|
(b) Trade payables |
6284.660 |
4813.480 |
|
(c) Other current
liabilities |
1793.380 |
1500.520 |
|
(d) Short-term provisions |
111.290 |
51.470 |
|
Total Current Liabilities
(4) |
14231.020 |
11263.770 |
|
|
|
|
|
TOTAL |
22199.000 |
18117.590 |
|
|
|
|
|
II.
ASSETS |
|
|
|
(1) Non-current assets |
|
|
|
(a) Fixed Assets |
|
|
|
(i) Tangible assets |
4039.500 |
4025.370 |
|
(ii) Intangible Assets |
30.510 |
27.260 |
|
(iii) Capital
work-in-progress |
229.810 |
31.540 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
|
(b) Non-current
Investments |
29.990 |
31.120 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.670 |
47.650 |
|
(e) Other Non-current
assets |
121.590 |
0.000 |
|
Total Non-Current Assets |
4491.670 |
4162.940 |
|
|
|
|
|
(2) Current assets |
|
|
|
(a) Current investments |
0.000 |
0.000 |
|
(b) Inventories |
5555.880 |
4989.240 |
|
(c) Trade receivables |
10228.400 |
7392.350 |
|
(d) Cash and cash
equivalents |
771.610 |
377.120 |
|
(e) Short-term loans and
advances |
13.890 |
899.380 |
|
(f) Other current assets |
1137.550 |
296.560 |
|
Total Current Assets |
17707.330 |
13954.650 |
|
|
|
|
|
TOTAL |
22199.000 |
18117.590 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
Income |
35031.190 |
26705.900 |
|
|
Other Income |
92.990 |
104.820 |
|
|
TOTAL |
35124.180 |
26810.720 |
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
Cost of Materials Consumed |
24422.770 |
18697.860 |
|
|
Purchases of Stock-in-Trade |
15.120 |
15.960 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(326.190) |
(426.760) |
|
|
Employees benefits expense |
1467.920 |
1109.490 |
|
|
Sub-Contractor expense for turnkey projects |
1085.554 |
580.010 |
|
|
Other expenses |
4596.900 |
3988.730 |
|
|
Excise duty |
376.200 |
|
|
|
TOTAL |
31638.270 |
23965.290 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3485.910 |
2845.430 |
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1118.690 |
1229.320 |
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
2367.220 |
1616.110 |
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION |
322.300 |
280.440 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2044.920 |
1335.670 |
|
|
|
|
|
|
Less |
TAX |
596.960 |
352.650 |
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1447.960 |
983.020 |
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
|
|
|
Basic |
18.54 |
12.68 |
|
Diluted |
18.21 |
12.37 |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2018 INR In Million |
31.03.2017 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and Advances from
Related Parties |
|
|
|
Loan from Related Parties |
NA |
253.000 |
|
Deposits from Related
Parties |
NA |
8.420 |
|
Public Deposits |
NA |
52.390 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and Advances
from Related Parties |
|
|
|
Inter Corporate Deposits |
NA |
0.800 |
|
Deposits from
Others |
|
|
|
Inter Corporate Deposits |
NA |
5.500 |
|
Public Deposits |
NA |
1.200 |
|
Total |
NA |
321.310 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G75494922 |
100151127 |
DENA BANK |
21/11/2017 |
- |
- |
1744000.0 |
35-36, AGGARWAL BHAWAN, NEHRU PLACE, DELHI – 110020, INDIA |
|
2 |
G70885959 |
100141688 |
THE SOUTH INDIAN BANK LIMITED |
08/11/2017 |
- |
- |
100000000.0 |
NEW DELHI CORPORATE BRANCH, A/301, 3RD FLOOR,STATESMAN HOUSE, 148, BARAKHAMBA ROAD, DELHI – 110020, INDIA |
|
3 |
G60306354 |
100131555 |
DCB BANK LIMITED |
25/10/2017 |
- |
- |
630000000.0 |
A-SET HOUSE, 3RD FLOOR, 7/56,DESH BANDHU GUPTA ROAD, KAROL BAGH, DELHI – 110020, INDIA |
|
4 |
G53370334 |
100122575 |
IDFC BANK LIMITED |
08/09/2017 |
- |
- |
400000000.0 |
KRM TOWER, 7TH FLOOR, NO. 1,HARRINGTON ROAD, CHETPET,CHENNAI – 600031, TAMILNADU, INDIA |
|
5 |
G79625844 |
100122577 |
IDFC BANK LIMITED |
08/09/2017 |
30/12/2017 |
- |
450000000.0 |
KRM TOWER, 7TH FLOOR, NO. 1,HARRINGTON ROAD, CHETPET, CHENNAI – 600031, TAMILNADU, INDIA |
|
6 |
G56927650 |
100128058 |
DENA BANK |
05/09/2017 |
- |
- |
4830000000.0 |
35-36, AGGARWAL BHAVAN,NEHRU PLACE, DELHI – 110019, INDIA |
|
7 |
G48287353 |
100109357 |
AXIS BANK LTD. |
30/06/2017 |
- |
- |
750000000.0 |
2ND FLOOR, RED FORT CAPITAL, PARSVNATH TOWERS,GOLE MARKET, BHAI VEER SINGH MARG, DELHI – 110019, INDIA |
|
8 |
G74759648 |
100098249 |
THE SOUTH INDIAN BANK LIMITED |
21/04/2017 |
29/12/2017 |
- |
500000000.0 |
NEW DELHI CORPORATE BRANCH, A/301, 3RD FLOOR,STATESMAN HOUSE, 148, BARAKHAMBA ROAD, DELHI – 110019, INDIA |
|
9 |
G79840930 |
100111181 |
INDUSIND BANK LTD. |
09/02/2017 |
30/12/2017 |
- |
250000000.0 |
2401 GEN THIMMAYYA ROADCONTONMENTPUNEMA411001IN |
|
10 |
G77495315 |
100067513 |
BAJAJ FINANCE LIMITED |
02/12/2016 |
29/12/2017 |
- |
300000000.0 |
PUNE ROAD, AKURDI, PUNE – 411035, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2018 INR In Million |
31.03.2017 (INR In Million) |
|
Financial Bank Guarantees outstanding |
NA |
2204.130 |
|
Other money for
which Company is contingently liable: |
NA |
|
|
Unutilized Letter of Credits |
NA |
121.350 |
|
Outstanding Bills discounted |
NA |
1054.090 |
|
Prorata share of Company in channel finance given by banks
to others |
NA |
626.600 |
|
Duties and Taxes: |
NA |
|
|
Sales Tax / Entry Tax demands under appeal |
NA |
7.730 |
|
Income tax Matters: |
|
|
|
Demand due to Additions / disallowances during Assessments, which are under Appeal |
NA |
2.160 |
|
Excise / Service tax demands under appeal |
NA |
144.500 |
|
Labour Cess Demands under appeal |
NA |
0.000 |
|
Custom Duty demand under Appeal |
NA |
0.000 |
FIXED ASSETS:
- Land
- Building
- Plant and Equipment
- Furniture and Fixtures
- Leasehold Building Improvement
- Vehicles
- Office Equipment
- Computers
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 68.02 |
|
|
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
TRUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.