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|
MIRA INFORM REPORT
|
Report No. : |
511135 |
|
Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GMM PFAUDLER LIMITED (w.e.f 17.11.1962) |
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|
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Formerly Known
As : |
GUJARAT MACHINERY MANUFACTURES LIMITED |
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Registered
Office : |
Vithal Udyognagar, Anand - Sojitra Road, Karamsad – 388 325, Gujarat |
|
Tel. No.: |
91-2692-661700 / 230416 / 230516 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
17.11.1962 |
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Com. Reg. No.: |
04-001171 |
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Capital
Investment / Paid-up Capital : |
INR 29.230 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29199GJ1962PLC001171 |
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IEC No.: [Import-Export Code No.] |
0888001215 |
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PAN No.: [Permanent Account No.] |
AABCG0563A |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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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
: |
The Company’s principal activity is the manufacture of corrosion resistant
glass-lined equipment used primarily in the chemical, pharmaceutical and
allied industries and also manufactures Flouro-polymer products and other
chemical process equipment such as agitated nutsche Filters, Filter driers
,wiped Film evaporators and mixing systems. [Registered Activity] |
|
|
|
|
No. of Employees
: (As on 2017) |
375 (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 : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Pfudler Inc” and was
incorporated in the year 1962.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-term bank facilities – AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
29.09.2017 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-term bank facilities – A1+ |
|
Rating Explanation |
Very Strong degree of safety and carry
lowest credit risk |
|
Date |
29.09.2017 |
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 28.05.2018
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 DECLINED
Management non-cooperative (Tel No.:91-2692-230416 / 66503900)
LOCATIONS
|
Registered Office/ Works : |
Vithal Udyognagar, Anand - Sojitra Road, Karamsad- 388325,
Gujarat, India |
|
Tel. No.: |
91-2692-230516/230367/230416/661700 |
|
Fax No.: |
91-2692-661888/ 236467 |
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E-Mail : |
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Website : |
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Corporate / Mumbai Sales Office : |
1001, Peninsula Towers, Peninsula Corporate Park, Ganpatrao Kadam
Marg, |
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Tel. No.: |
91-22-66503900 |
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Fax No.: |
91-22-66503939 |
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E-Mail : |
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Regional Sales Offices : |
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Sales Office 1 : |
2, B Jadhav Chambers, Ashram Road, Ellis Bridge, Ahmedabad - 380009, Gujarat, India |
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Tel. No.: |
91-79-27546822/ 27546824/ 27546924 |
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|
|
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Sales Office 2 : |
Flat # 410, H. No 6-11 and 6-11/A, Vijay Sai Towers, Main Road, Kukatpally, Hyderabad - 500072, Telangana, India |
|
Tel. No.: |
91-40-23150222/ 40055058 |
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Fax No.: |
91-40-23150261 |
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|
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Sales Office 3 : |
210, Pragati Tower, 26, Rajendra Place, New Delhi - 110008, India |
|
Tel. No.: |
91-11-25721566 |
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Fax No.: |
91-11-25814913 |
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|
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Sales Office 4 : |
227, Sidharth Complex, R. C. Dutta Road, Alkapuri, Vadodara - 390005, Gujarat, India |
|
Tel. No.: |
91-265-2354790 |
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Fax No.: |
91-265-2311482 |
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|
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Sales Office 5 : |
Ground Floor, No. 66, “City Center” No. 4, No. 39, Thirumallai Pillai Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Tel No : |
91-44-42124581 |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Tarak Ashok Jethabhai Patel |
|
Designation : |
Managing Director |
|
Address : |
32, Summerville, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Appointment : |
30.01.2007 |
|
DIN No.: |
00166183 |
|
|
|
|
Name : |
Mr. Krishnamurthy Padmanabhan |
|
Designation : |
Director |
|
Address : |
1401/1402, Vinayak Angan, Old Prabhdevi Road, Worli, Mumbai – 400025, Maharashtra, India |
|
Date of Appointment : |
14.04.2008 |
|
DIN No.: |
00013565 |
|
|
|
|
Name : |
Mr. Ashok Jethabhai Patel |
|
Designation : |
Director |
|
Address : |
32 Summerville, Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India |
|
Date of Appointment : |
01.01.1988 |
|
DIN No.: |
00165858 |
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|
Name : |
Dr. Swaminathan Sivram |
|
Designation : |
Director |
|
Address : |
Apartment No. 10 , Gulmohar Glory-5, Gulmohar Park Iti Road Aundh, Pune - 411007, Maharashtra, India |
|
Date of Appointment : |
26.06.2003 |
|
DIN No.: |
00009900 |
|
|
|
|
Name : |
Dr. Amrita Hirubhai Patel |
|
Designation : |
Director |
|
Address : |
Savitha Bikhabhai Marg, Vallab Vidya Nagar, Gujarat – 388120, India |
|
Date of Appointment : |
11.12.2014 |
|
DIN No.: |
00065052 |
|
|
|
|
Name : |
Mr. Thomas Otto Kehl |
|
Designation : |
Director |
|
Address : |
Altkonigstra. 1A - 65835, Liederbach, NA DE |
|
Date of Appointment : |
19.05.2015 |
|
DIN No.: |
06935094 |
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|
|
|
Name : |
Deller Dominic Thilo |
|
Designation : |
Casual Vacancy Director |
|
Address : |
4106181768, Eschborn Feldbergstrasse 1b Feldbergstrasse 65760 De |
|
Date of Appointment : |
18.10.2017 |
|
DIN No.: |
02798095 |
|
|
|
|
Name : |
Mr. Khurshed Meherwanji Thanawalla |
|
Designation : |
Director |
|
Address : |
Khatau Bungalow, 6 Manav Mandir Road, Mumbai – 400006, Maharashtra, India |
|
Date of Appointment : |
30.06.2015 |
|
DIN No.: |
00201749 |
KEY EXECUTIVES
|
Name : |
Mr. Jugal Kishore Sahu |
|
Designation : |
Chief Financial Officer |
|
Address : |
B / 601, Abhishek Apartments, Shanti Park, Mira Road,
Thane – 401107, Maharashtra, India |
|
Date of Appointment : |
19.01.2016 |
|
PAN No.: |
ABXPS2669B |
|
Name : |
Ms. Mittal K. Mehta |
|
Designation : |
Company Secretary |
|
Address : |
A-502, BLDG. NO. 36, Tilaknagar, Chembur, Mumbai – 400089,
Maharashtra, India |
|
Date of Appointment : |
15.10.2010 |
|
PAN No.: |
AFQPD2447B |
MAJOR SHAREHOLDERS
As on 31.03.2018
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % |
|
|
(A) Promoter & Promoter Group |
10963125 |
75.00 |
|
|
(B) Public |
3654375 |
25.00 |
|
|
Grand Total |
14617500 |
100.00 |
Statement showing shareholding pattern of the Promoter and
Promoter Group
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % |
|
|
A1) Indian |
|
||
|
Individuals/Hindu undivided Family |
1301045 |
8.90 |
|
|
Urmi Ashok Patel |
625000 |
4.28 |
|
|
A J Patel |
277235 |
1.90 |
|
|
Tarak Ashok Patel |
173960 |
1.19 |
|
|
Uttara A Patel |
166995 |
1.14 |
|
|
Panna Shailendra Patel |
33750 |
0.23 |
|
|
Pragna Satish Patel |
16160 |
0.11 |
|
|
Ashok Jethabhai Patel |
6745 |
0.05 |
|
|
Palomita Shailendra Patel |
1200 |
0.01 |
|
|
Any Other (specify) |
9662080 |
66.10 |
|
|
A J Patel Charitable Trust |
253125 |
1.73 |
|
|
Pfaudler Inc |
7372475 |
50.44 |
|
|
Millars Machinery Company Pvt Ltd. |
1625595 |
11.12 |
|
|
Uttarak Enterprises Pvt. Ltd. |
410885 |
2.81 |
|
|
Sub Total A1 |
10963125 |
75.00 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
10963125 |
75.00 |
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 % |
|
|
B1) Institutions |
|||
|
Mutual Funds/ |
80000 |
0.55 |
|
|
Foreign Portfolio Investors |
3377 |
0.02 |
|
|
Financial Institutions/ Banks |
225 |
0.00 |
|
|
Insurance Companies |
54448 |
0.37 |
|
|
Sub Total B1 |
138050 |
0.94 |
|
|
B2) Central Government/ State Government(s)/
President of India |
0.00 |
||
|
Central Government/ State Government(s)/
President of India |
40512 |
0.28 |
|
|
Sub Total B2 |
40512 |
0.28 |
|
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200
million |
2503631 |
17.13 |
|
|
Individual share capital in excess of INR
0.200 million |
118125 |
0.81 |
|
|
Any Other (specify) |
854057 |
5.84 |
|
|
Trusts |
20732 |
0.14 |
|
|
HUF |
135621 |
0.93 |
|
|
Non-Resident Indian (NRI) |
93982 |
0.64 |
|
|
Clearing Members |
22815 |
0.16 |
|
|
Chandler & Price (I) Pvt Ltd |
351555 |
2.41 |
|
|
Bodies Corporate |
580907 |
3.97 |
|
|
Sub Total B3 |
3475813 |
23.78 |
|
|
B=B1+B2+B3 |
3654375 |
25.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company’s principal activity is the manufacture of corrosion resistant
glass-lined equipment used primarily in the chemical, pharmaceutical and
allied industries and also manufactures Flouro-polymer products and other
chemical process equipment such as agitated nutsche Filters, Filter driers
,wiped Film evaporators and mixing systems. [Registered Activity] |
||||
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Products / Services
: |
|
||||
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||||
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Brand Names : |
Not Available |
||||
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||||
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Agencies Held : |
Not Available |
||||
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||||
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Exports : |
Not Divulged |
||||
|
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||||
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Imports : |
Not Divulged |
||||
|
|
|
||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
No. of Employees : (As on 2017) |
375 (Approximately) |
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|
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|
Bankers : |
|
|
Auditors : |
|
|
Statutory Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Internal Auditors : |
|
|
Name : |
Kalyaniwalla
and Mistry Chartered Accountants |
|
|
|
|
SOLICITORS |
|
|
Name : |
Shardul Amarchand
Mangaldas Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
|
|
|
|
|
Ultimate Holding Company |
|
|
|
|
|
Subsidiary Companies |
|
|
|
|
|
Fellow Subsidiaries |
|
|
|
|
|
Enterprises over which key managerial personnel have significant
influence: |
|
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 29.230
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 2/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14617500 |
Equity Shares |
INR 2/- each |
INR 29.230 Million |
|
|
|
|
|
a) Reconciliation of
equity shares outstanding at the beginning and end of the reporting year Equity
Shares:
|
Equity Shares: |
31.03.2017 |
|
|
In Numbers |
INR in Million |
|
|
At the Beginning of the year |
14617500 |
29.230 |
|
Issued during the year |
-- |
-- |
|
Outstanding as at
the end of the year |
14617500 |
29.230 |
b) Terms/rights
attached to equity shares
The Company
has only one class of equity shares having a par value INR 2 per share. Each holder of equity
shares is entitled to one vote per share. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting.
In the event
of liquidation of the Company, the holders of equity shares will be entitled to
receive remaining assets of the company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
c) Details of shareholders holding more than 5% shares in the company
|
Equity Shares: |
31.03.2017 |
|
|
In Numbers |
% holding |
|
|
Pfaudler Inc (Holding Company) |
7372475 |
50.44% |
|
Millars Machinery Company Private Limited |
1625595 |
11.12% |
d) Buyback of Shares,
Bonus Shares and Shares issued for Consideration other than cash.
The company
has not boughtback any shares, neither has it issued bonus shares nor has it
issued shares for consideration other than cash in the past five years.
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 |
29.230 |
29.230 |
29.230 |
|
(b) Reserves & Surplus |
1828.820 |
1629.280 |
1384.030 |
|
(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) |
1858.050 |
1658.510 |
1413.260 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
49.290 |
24.630 |
25.110 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
49.290 |
24.630 |
25.110 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
585.670 |
466.240 |
245.020 |
|
(c) Other
current liabilities |
382.660 |
324.340 |
242.010 |
|
(d) Short-term
provisions |
22.690 |
19.020 |
34.790 |
|
Total Current
Liabilities (4) |
991.020 |
809.600 |
521.820 |
|
|
|
|
|
|
TOTAL |
2898.360 |
2492.740 |
1960.190 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
553.010 |
462.620 |
369.700 |
|
(ii)
Intangible Assets |
12.160 |
17.750 |
25.910 |
|
(iii) Capital
work-in-progress |
27.600 |
19.950 |
43.150 |
|
(iv)
Intangible assets under development |
40.220 |
0.000 |
0.000 |
|
(b) Non-current Investments |
228.750 |
226.300 |
226.820 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
33.540 |
55.890 |
|
(e) Other
Non-current assets |
13.880 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
875.620 |
760.160 |
721.470 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
496.920 |
439.990 |
130.380 |
|
(b)
Inventories |
787.900 |
594.530 |
495.150 |
|
(c) Trade
receivables |
419.650 |
524.360 |
316.800 |
|
(d) Cash
and cash equivalents |
112.670 |
30.380 |
251.580 |
|
(e)
Short-term loans and advances |
2.730 |
45.790 |
41.880 |
|
(f) Other
current assets |
202.870 |
97.530 |
2.930 |
|
Total
Current Assets |
2022.740 |
1732.580 |
1238.720 |
|
|
|
|
|
|
TOTAL |
2898.360 |
2492.740 |
1960.190 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
3124.100 |
2663.070 |
2296.010 |
|
|
Other Income |
70.390 |
77.810 |
32.420 |
|
|
TOTAL |
3194.490 |
2740.880 |
2328.430 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1481.890 |
1181.590 |
929.410 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(168.800) |
(24.110) |
83.490 |
|
|
Employees benefits
expense |
364.730 |
309.320 |
280.550 |
|
|
Other expenses |
665.840 |
541.220 |
489.150 |
|
|
Labour charges |
318.510 |
244.630 |
193.510 |
|
|
TOTAL |
2662.170 |
2252.650 |
1976.110 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
532.320 |
488.230 |
352.320 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
10.310 |
8.980 |
6.870 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
522.010 |
479.250 |
345.450 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
83.060 |
73.830 |
67.380 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
438.950 |
405.420 |
278.070 |
|
|
|
|
|
|
|
Less |
TAX |
155.200 |
123.220 |
94.490 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
283.750 |
282.200 |
183.580 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1268.020 |
1022.770 |
891.950 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim dividend |
NA |
30.700 |
30.700 |
|
|
Final dividend |
NA |
0.000 |
13.160 |
|
|
Tax on distributed
profits |
NA |
6.250 |
8.900 |
|
|
Total |
NA |
36.950 |
52.760 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
NA |
1268.020 |
1022.770 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
160.900 |
166.930 |
|
|
TOTAL EARNINGS |
NA |
160.900 |
166.930 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw material and
components |
NA |
105.330 |
45.090 |
|
|
Stores and spares |
NA |
4.160 |
0.620 |
|
|
Capital Goods |
NA |
4.220 |
26.810 |
|
|
TOTAL IMPORTS |
NA |
113.710 |
72.520 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
19.41 |
19.31 |
12.56 |
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 |
332.930 |
231.110 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activity |
NA |
219.63 |
138.050 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
49.03 |
71.87 |
50.36 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.44 |
5.08 |
7.25 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
144.25 |
144.02 |
96.22 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.68 |
0.82 |
0.71 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.84 |
0.98 |
0.80 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.34 |
0.32 |
0.27 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.53 |
0.49 |
0.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.34 |
0.30 |
0.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
51.63 |
54.37 |
51.28 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
9.08 |
10.60 |
8.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
9.79 |
11.32 |
9.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
15.27 |
17.02 |
12.99 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current Assets / Current Liabilities) |
2.04 |
2.14 |
2.37 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.25 |
1.41 |
1.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.64 |
0.67 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
2.04 |
2.14 |
2.37 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2/- |
|
Market Value |
INR 801.10 |
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 |
29.230 |
29.230 |
29.230 |
|
Reserves & Surplus |
1384.030 |
1629.280 |
1828.820 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1413.260 |
1658.510 |
1858.050 |
|
|
|
|
|
|
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 |
2296.010 |
2663.070 |
3124.100 |
|
|
|
15.987 |
17.312 |
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 |
2296.010 |
2663.070 |
3124.100 |
|
Profit |
183.580 |
282.200 |
283.750 |
|
|
8.00% |
10.60% |
9.08% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2018 |
31.03.2017 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
29.230 |
29.230 |
|
(b) Reserves &
Surplus |
|
2248.270 |
1919.010 |
|
(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) |
|
2277.500 |
1948.240 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
47.450 |
23.340 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
125.740 |
87.780 |
|
Total Non-current
Liabilities (3) |
|
173.190 |
111.120 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
704.090 |
546.060 |
|
(c) Other current
liabilities |
|
739.350 |
566.590 |
|
(d) Short-term provisions |
|
29.140 |
19.060 |
|
Total Current Liabilities
(4) |
|
1472.580 |
1131.710 |
|
|
|
|
|
|
TOTAL |
|
3923.270 |
3191.070 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
571.350 |
474.450 |
|
(ii) Intangible Assets |
|
137.040 |
137.760 |
|
(iii) Capital work-in-progress |
|
27.600 |
19.950 |
|
(iv) Intangible assets
under development |
|
40.220 |
0.000 |
|
(b) Non-current
Investments |
|
8.750 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
2.220 |
6.300 |
|
(d) Long-term Loan and Advances |
|
0.000 |
33.540 |
|
(e) Other Non-current
assets |
|
18.180 |
0.000 |
|
Total Non-Current Assets |
|
805.360 |
672.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
496.920 |
439.990 |
|
(b) Inventories |
|
956.410 |
822.470 |
|
(c) Trade receivables |
|
505.290 |
699.040 |
|
(d) Cash and cash
equivalents |
|
667.890 |
316.490 |
|
(e) Short-term loans and
advances |
|
2.730 |
143.070 |
|
(f) Other current assets |
|
488.670 |
98.010 |
|
Total Current Assets |
|
3117.910 |
2519.070 |
|
|
|
|
|
|
TOTAL |
|
3923.270 |
3191.070 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
|
|
SALES |
|
|
|
|
|
Income |
|
4056.990 |
3530.300 |
|
|
Other Income |
|
93.940 |
82.460 |
|
|
TOTAL |
|
4150.930 |
3612.760 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1790.560 |
1519.160 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(105.270) |
(25.830) |
|
|
Employees benefits
expense |
|
635.150 |
660.940 |
|
|
Other expenses |
|
732.070 |
592.970 |
|
|
Labour Charges |
|
383.710 |
305.640 |
|
|
TOTAL |
|
3436.220 |
3052.880 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
714.710 |
559.880 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
10.310 |
9.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
704.400 |
550.880 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
97.890 |
82.330 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
606.510 |
468.550 |
|
|
|
|
|
|
|
Less |
TAX |
|
179.750 |
135.870 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
426.760 |
332.680 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
29.20 |
22.76 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
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 |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
(As on 2017)
The Company was incorporated in India on November 17, 1962. The Company’s manufacturing unit is located at Karamsad, Gujarat. The Company’s principal activity is to manufacture corrosion resistant glass-lined equipment used primarily in the chemical, pharmaceutical and allied industries. The Company also manufactures Flouro-polymer products and other chemical process equipment such as agitated nutsche Filters, ilter driers, wiped Film evaporators and mixing systems.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B98875214 |
10171518 |
STATE BANK OF INDIA |
24/07/2009 |
17/02/2014 |
- |
700000000.0 |
JAYLAXMI PLAZA, GANESH CROSS ANAND -388001 GUJARAT INDIA |
|
2 |
A74349101 |
10060892 |
STATE BANK OF INDIA |
13/02/2007 |
21/04/2008 |
09/12/2009 |
550000000.0 |
JAYLAXMI PLAZA, GANESH CROSS ANAND -388001 GUJARAT INDIA |
|
3 |
A74343930 |
80003069 |
STATE BANK OF INDIA |
12/08/1977 |
07/02/2006 |
09/12/2009 |
246000000.0 |
JAYLAXMI PLAZA, GANESH CROSS ANAND -388001 GUJARAT INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
|
Claim against the Company not acknowledged as debts |
|
|
|
i) Dispute relating to Excise, Service tax
and Sales tax |
NA |
16.910 |
|
ii) Matter decided in favour of the company
where the income tax department has
preferred appeals. |
NA |
61.140 |
|
iii) Disputed demands relating to tax
against which the Company has preferred
appeals. |
NA |
12.510 |
|
Note: Against the above, the Company has
paid INR 2.03 Million. The expected outlow will be determined at the time of final outcome in respect of the
concerned matter. No amount is expected to be reimbursed. |
||
|
Guarantee issued by bank |
NA |
294.360 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Computer
·
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 67.52 |
|
|
1 |
INR 91.48 |
|
Euro |
1 |
INR 80.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
NO |
|
--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.