|
|
|
MIRA
INFORM REPORT
|
Report No. : |
510508 |
|
Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTHAN NATIONAL GLASS AND INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
2, Red Cross Place, Kolkata – 700001, West Bengal |
|
Tel. No.: |
91-33-22543100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 |
|
|
|
|
Date of
Incorporation : |
23.02.1946 |
|
|
|
|
Com. Reg. No.: |
21-013294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 179.100 Million |
|
|
|
|
CIN No.: [Company Identification No.] |
L26109WB1946PLC013294 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7557G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Selling of Container Glass. [Registered
Activity] |
|
|
|
|
No. of Employees
: [As on 31.03.2017] |
3551 (Approximately) [1136 Staff & 2415 Permanent Workers] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1946 and it is having moderate
track records. The company has been incurring losses since last two financial years. Rating takes into consideration moderate financial risk profile of the
company marked by low liquidity position and high debt level. Further, rating is constrained on account of continuously incurring
nature of losses, huge borrowing recorded which can be threat to its
liquidity position and intense competition from industry. Further, as per indirect sources we could find that there are delays
in servicing of bank facilities and interest payment of NCD issue. Rating weakness is partially offset by promoters' experience and Long
track record of the company. Business is active. Payments are reported to be slow and delayed. In view of aforesaid, the company can be considered for business
dealings with safe and secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating =D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery |
|
Date |
07.02.2018 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating =D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects of recovery |
|
Date |
07.02.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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
[Contact No: 91-33-22543100]
LOCATIONS
|
Registered/ Corporate/ Marketing and Sales Office : |
2, Red Cross Place, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22543100 |
|
Fax No.: |
91-33-22543130 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Bahadurgarh, District Jhajjar –
124 507, Haryana, India |
|
Tel. No.: |
91-1276-221400 |
|
Fax No.: |
91-1276-221666 |
|
|
|
|
Factory 2 : |
2, Panchu Gopal Bhaduri Sarani, Rishra, District Hooghly – 712 248,
West Bengal, India |
|
Tel. No.: |
91-33-26000200 |
|
|
|
|
Factory 3 : |
14, RIICO Industrial Area, Neemrana, District Alwar – 301 705,
Rajasthan, India |
|
Tel. No.: |
91-1494-246712/ 513935 |
|
Fax No.: |
91-1494-246713 |
|
|
|
|
Factory 4 : |
P.O. Virbhadra, Rishikesh, District Dehradun – 249 201, Uttarakhand,
India |
|
Tel. No.: |
91-135-2470700 |
|
Fax No.: |
91-135-2470777 |
|
|
|
|
Factory 5 : |
Thonadamantham Village, Vezhudavoor S.O., Puducherry – 605 502, India |
|
Tel. No.: |
91-413-2677319 |
|
Fax No.: |
91-413-2677366 / 2677666 |
|
|
|
|
Factory 6 : |
Nashik Glass Work, F1, MIDC, Malegaon, District, Sinnar,
Nashik-422113, Maharashtra, India |
|
|
|
|
Factory 7: |
APIIC Multiproduct Inds Park, Menakur Naidupeta, SPSR-Nellore –
524421, Andhra Pradesh, India |
|
Tel. No.: |
91-8623-211001 |
|
|
|
|
Other Marketing and Sales Offices : |
· Bahadurgarh, District: Jhajjar– 124507, Haryana, India · 202, 2nd Floor, Ackruti Centre Point, Central Road, MIDC, Andheri East, Mumbai – 400093, Maharashtra, India · 14/15, III Floor, Wellington Estate, 24A, Ethiraj Salai, Egmore, Chennai – 600008, Tamilnadu, India |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Sanjay Somany |
|
Designation : |
Managing Director |
|
Address : |
W-27, Greater Kailash, Part – II, New Delhi – 110048, India |
|
Date of Birth/Age : |
28.07.1958 |
|
Date of Appointment : |
27.03.1993 |
|
DIN No.: |
00124538 |
|
|
|
|
Name : |
Mr. Mukul Somany |
|
Designation : |
Managing Director |
|
Address : |
2, Iron Side Road, Ballygunge, Kolkata – 700019, West Bengal, India |
|
Date of Birth/Age : |
15.10.1965 |
|
Date of Appointment : |
23.07.1992 |
|
DIN No.: |
00124625 |
|
|
|
|
Name : |
Mr. Dipankar Chatterji |
|
Designation : |
Director |
|
Address : |
Flat No. 2A, Minto Park Syndicate 13, D.L. Khan Road, Kolkata - 700027, West Bengal, India |
|
Date of Birth/Age : |
23.08.1948 |
|
Date of Appointment : |
10.06.2002 |
|
DIN No.: |
00031256 |
|
|
|
|
Name : |
Mr. Ratna Kumar Daga |
|
Designation : |
Director |
|
Address : |
8, South End Park Kolkata - 700029, West Bengal, India |
|
Date of Birth/Age : |
19.08.1939 |
|
Qualification : |
Post graduate degree in Business Management from U.K. |
|
Date of Appointment : |
25.11.1997 |
|
DIN No.: |
00227746 |
|
|
|
|
Name : |
Mrs. Rita Bhimani |
|
Designation : |
Director |
|
Address : |
12/4 Sunny Park Apartments, 6 Sunny Park, Kolkata - 700019, West Bengal, India |
|
Date of Appointment : |
03.03.2015 |
|
DIN No.: |
07106069 |
KEY EXECUTIVES
|
Name : |
Mr. Bimal Kumar Garodia |
|
Designation : |
Chief Financial Officer (KMP) |
|
Address : |
P-260, C.I.T. Road, Scheme Vim, Kolkata - 700054, West Bengal, India |
|
Date of Appointment : |
20.05.2014 |
|
PAN No.: |
ADWPG4468M |
|
|
|
|
Name : |
Mr. Ajay Kumar Rai |
|
Designation : |
Company Secretary |
|
Address : |
225 Chittaranjan Avenue Kolkata - 700006, West Bengal, India |
|
Date of Appointment : |
01.01.2013 |
|
PAN No.: |
AFUPR9511C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2018
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Promoter & Promoter Group |
63338840 |
70.73 |
|
Public |
26214725 |
29.27 |
|
|
|
|
|
Total |
89553565 |
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 |
|
|
|
Individuals/Hindu undivided Family |
1,56,48,285 |
17.47 |
|
|
Mukul Somany |
40,21,370 |
4.49 |
|
|
Sanjay Somany |
31,12,865 |
3.48 |
|
|
Chandra Kumar Somany (HUF) |
18,61,870 |
2.08 |
|
|
Sudha Somany |
18,29,070 |
2.04 |
|
|
Rashmi Somany |
11,04,250 |
1.23 |
|
|
Amita Somany |
8,93,000 |
1.00 |
|
|
Sanjay Somany (HUF) |
8,22,635 |
0.92 |
|
|
Chandra Kumar Somany |
8,04,750 |
0.90 |
|
|
Bharat Somany |
7,47,800 |
0.84 |
|
|
Mukul Somany (HUF) |
4,50,675 |
0.50 |
|
|
Any Other (specify) |
4,76,90,555 |
53.25 |
|
|
Brabourne Commerce Pvt Ltd |
2,17,49,485 |
24.29 |
|
|
Spotlight Vanijya Ltd |
1,61,99,975 |
18.09 |
|
|
Rungamattee Trexim Pvt Ltd |
45,90,550 |
5.13 |
|
|
Spotme Tracon Pvt Ltd |
45,90,545 |
5.13 |
|
|
Khazana Marketing Pvt Ltd |
2,80,000 |
0.31 |
|
|
Saurav Contractors Pvt Ltd |
2,80,000 |
0.31 |
|
|
Sub Total A1 |
6,33,38,840 |
70.73 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
6,33,38,840 |
70.73 |
|
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 |
|
|
Foreign Portfolio Investors |
6348025 |
7.09 |
|
|
Ironwood Investment Holdings |
6348025 |
7.09 |
|
|
Sub Total B1 |
6348025 |
7.09 |
|
|
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 |
1731325 |
1.93 |
|
|
Individual share capital in excess of INR
0.200 Million |
10691600 |
11.94 |
|
|
DILIP S DAMLE (As a trustee of HNG TRUST) |
7641600 |
8.53 |
|
|
DILIP S DAMLE (As a trustee of ACE TRUST) |
3050000 |
3.41 |
|
|
Any Other (specify) |
7443775 |
8.31 |
|
|
IEPF |
1720 |
0.00 |
|
|
L AND T FINANCE LTD |
3950000 |
4.41 |
|
|
VZ VANIJYA LLP |
933577 |
1.04 |
|
|
Bodies Corporate |
7439435 |
8.31 |
|
|
Clearing Members |
1056 |
0.00 |
|
|
Non-Resident Indian (NRI) |
1564 |
0.00 |
|
|
Sub Total B3 |
19866700 |
22.18 |
|
|
B=B1+B2+B3 |
26214725 |
29.27 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Selling of Container Glass. [Registered Activity] |
|
|
|
|
Products/ Services : |
Container Glass |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Customers : |
· ITC Limited · Ranbaxy Laboratories Limited · Diageo · Nestle · Dabur · Unilever · Heinz |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : [As on 31.03.2017] |
3551 (Approximately) [1136 Staff & 2415 Permanent Workers] |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : [As on 31.03.2017] |
·
Axis Bank Limited ·
Bank of Baroda ·
Co-operative Centrale
Raiffeisen-Boerenleenbank B.A. (trading as Rabobank International) ·
DBS Bank Limited ·
Export Import Bank of India ·
HDFC Bank Limited ·
Life Insurance Corporation of India ·
L&T Finance ·
Standard Chartered Bank ·
Syndicate Bank ·
The Hong Kong and Shanghai Banking Corporation
Limited |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors 1 : [As on 31.03.2017] |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
|
|
|
Auditors 2 : [As on
31.03.2017] |
Singhi and Company Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company : [As on 31.03.2017] |
HNG Global GmbH (ceases to be subsidiary with effect from 1st April 2016) |
|
|
|
|
Joint Venture Company : [As on 31.03.2017] |
HNG Float Glass Limited |
|
|
|
|
Enterprises over which
any person described in [C (i) to (ix)] above is able to exercise significant
influence and with whom the Company has transactions during the year : [As on 31.03.2017] |
·
AMCL Machinery Limited ·
Brabourne Commerce Private Limited ·
Khazana Marketing Private Limited ·
Mould Equipment Limited ·
Rungamattee Trexim Private Limited ·
Saurav Contractors Private Limited ·
Spotlight Vanijya Limited ·
Spotme Tracon Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2018
Authorised Capital : Not
Available
Issued, Subscribed & Paid-up Capital : INR 179.100 Million
AFTER: 18.09.2017
Authorised Capital : INR
5115.000 Million
Issued, Subscribed & Paid-up Capital : INR 179.107 Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2557500000 |
Equity Shares |
INR 2/- each |
INR 5115.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87338565 |
Equity Shares |
INR 2/- each |
INR 174.677
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
179.100 |
174.677 |
174.677 |
|
(b) Reserves & Surplus |
1287.400 |
3773.121 |
5051.799 |
|
(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) |
1466.500 |
3947.798 |
5226.476 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
16475.900 |
18890.933 |
20303.384 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
104.200 |
153.196 |
159.156 |
|
(d)
long-term provisions |
101.300 |
119.544 |
106.814 |
|
Total
Non-current Liabilities (3) |
16681.400 |
19163.673 |
20569.354 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
5975.300 |
5285.627 |
4982.841 |
|
(b)
Trade payables |
4545.100 |
4524.404 |
4417.327 |
|
(c)
Other current liabilities |
4415.700 |
2904.791 |
1981.669 |
|
(d)
Short-term provisions |
70.100 |
32.963 |
21.541 |
|
Total
Current Liabilities (4) |
15006.200 |
12747.785 |
11403.378 |
|
|
|
|
|
|
TOTAL |
33154.100 |
35859.256 |
37199.208 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
21442.200 |
22914.811 |
24239.510 |
|
(ii)
Intangible Assets |
21.000 |
26.970 |
1.536 |
|
(iii)
Capital work-in-progress |
1246.200 |
1003.806 |
749.837 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
362.700 |
362.729 |
1076.506 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
11.650 |
11.650 |
|
(e)
Other Non-current assets |
310.100 |
401.840 |
544.380 |
|
Total
Non-Current Assets |
23382.200 |
24721.806 |
26623.419 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4850.200 |
6009.224 |
5075.917 |
|
(c)
Trade receivables |
3946.000 |
3999.709 |
4189.802 |
|
(d)
Cash and cash equivalents |
76.200 |
62.319 |
85.881 |
|
(e)
Short-term loans and advances |
2.600 |
1.868 |
2.219 |
|
(f)
Other current assets |
896.900 |
1064.330 |
1221.970 |
|
Total
Current Assets |
9771.900 |
11137.450 |
10575.789 |
|
|
|
|
|
|
TOTAL |
33154.100 |
35859.256 |
37199.208 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
19806.100 |
20643.369 |
21799.126 |
|
|
|
Other Income |
51.000 |
69.430 |
60.683 |
|
|
|
TOTAL |
19857.100 |
20712.799 |
21859.809 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5897.000 |
5969.462 |
6401.671 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
812.500 |
(579.489) |
48.263 |
|
|
|
Employees benefits expense |
1996.800 |
2111.480 |
1792.917 |
|
|
|
Other expenses |
2965.000 |
9262.368 |
8886.460 |
|
|
|
Excise duty on sale of goods |
532.700 |
2037.376 |
2012.326 |
|
|
|
Power and Fuel Expenses |
6506.800 |
0.000 |
0.000 |
|
|
|
Exceptional Items |
0.000 |
(945.933) |
0.000 |
|
|
|
TOTAL |
18710.800 |
17855.264 |
19141.637 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1146.300 |
2857.535 |
2718.172 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2518.500 |
2379.996 |
2548.251 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1372.200) |
477.539 |
169.921 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1609.300 |
1748.688 |
1993.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
(2981.500) |
(1271.149) |
(1823.142) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(36.400) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(2945.100) |
(1271.149) |
(1823.142) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
351.888 |
484.362 |
|
|
TOTAL EARNINGS |
NA |
351.888 |
484.362 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(33.36) |
(14.55) |
(20.87) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
1503.477 |
726.564 |
|
|
|
|
|
|
Cash generated from/(used in) Operations |
NA |
1666.571 |
3067.359 |
|
|
|
|
|
|
Net Cash Flow from/(used in) Operating activities |
NA |
1661.669 |
3077.548 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
72.72 |
70.72 |
70.15 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.02 |
5.16 |
5.20 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
281.32 |
276.64 |
251.86 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.24 |
0.48 |
0.54 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.05 |
0.12 |
0.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.95 |
0.92 |
0.87 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
15.31 |
6.50 |
4.98 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
10.23 |
3.23 |
2.18 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
15.49 |
6.07 |
4.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.46 |
1.20 |
1.07 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(14.87) |
(6.16) |
(8.36) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(8.88) |
(3.54) |
(4.90) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(200.83) |
(32.20) |
(34.88) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.65 |
0.87 |
0.93 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.33 |
0.40 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.04 |
0.11 |
0.14 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
125.36 |
147.01 |
148.92 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.65 |
0.87 |
0.93 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
|
|
|
Market Value |
INR 89.00/- |
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 |
174.677 |
174.677 |
179.100 |
|
Reserves & Surplus |
5051.799 |
3773.121 |
1287.400 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5226.476 |
3947.798 |
1466.500 |
|
|
|
|
|
|
long-term borrowings |
20303.384 |
18890.933 |
16475.900 |
|
Short term borrowings |
4982.841 |
5285.627 |
5975.300 |
|
Total
borrowings |
25286.225 |
24176.560 |
22451.200 |
|
Debt/Equity
ratio |
4.838 |
6.124 |
15.309 |
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 |
21799.126 |
20643.369 |
19806.100 |
|
|
|
(5.302) |
(4.056) |
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 |
21799.126 |
20643.369 |
19806.100 |
|
Profit/ (Loss) |
(1823.142) |
(1271.149) |
(2945.100) |
|
|
(8.36%) |
(6.16%) |
(14.87%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by info
agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C74902453 |
10610961 |
EXPORT-IMPORT BANK OF INDIA |
07/12/2015 |
- |
- |
170000000.0 |
FLOOR-21, CENTRE ONE BUILDINGWORLD TRADE CENTRE, CUFF PARADEMUMBAIMH400005IN |
|
2 |
C74693649 |
10610595 |
L & T Finance Limited |
07/12/2015 |
- |
- |
312500000.0 |
2, Upper Wood Street1st FloorKolkataWB700016IN |
|
3 |
G01802347 |
100023120 |
L & T Finance Limited |
24/08/2015 |
- |
- |
312500000.0 |
L & T HouseNM Marg, Ballard EstateMumbaiMH400001IN |
|
4 |
C74766346 |
10565299 |
HDFC BANK LIMITED |
31/03/2015 |
07/12/2015 |
- |
1125000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
C74554783 |
10563211 |
STATE BANK OF INDIA |
28/03/2015 |
07/12/2015 |
- |
4960000000.0 |
CORPORATE ACCOUNTS GROUP BRANCHRELIANCE HOUSE 2ND FLOOR, 34 JAWAHARLAL NEHRU ROADKOLKATAWB700071IN |
|
6 |
C74635376 |
10563304 |
AXIS BANK LTD |
27/03/2015 |
07/12/2015 |
- |
325000000.0 |
1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOORKOLKATAKOLKATAWB700001IN |
|
7 |
C74635491 |
10563327 |
AXIS BANK LTD |
27/03/2015 |
07/12/2015 |
- |
750000000.0 |
1, SHAKESPEARE SARANI, AC MARKET , 3RD FLOORkolkataKOLKATAWB700071IN |
|
8 |
C14801211 |
10487917 |
SYNDICATE BANK |
28/03/2014 |
09/07/2014 |
- |
1000000000.0 |
LARGE CORPORATE BRANCH, LIC BUILDING, ILLACO HOUSE1, BRABOURNE ROADKolkataWB700001IN |
|
9 |
C14566731 |
10468620 |
STATE BANK OF INDIA |
04/12/2013 |
09/07/2014 |
- |
3000000000.0 |
CORPORATE ACCOUNTS GROUP BRANCH, 2ND FLOOR,RELIANCE HOUSE,34 J.L NEHRU ROADKolkataWB700071IN |
|
10 |
C21628128 |
10390942 |
Cooperative Centrale Raiffesisen-Boerenleenbank B A (also known as Rabobank International) Hong Kong |
21/11/2012 |
09/07/2014 |
- |
1300000000.0 |
32/F, Three Pacific Place1 Queen's Road EastHong KongNA00000HK |
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term Loans |
|
|
|
From related parties |
|
457.598 |
|
Deferred Payment
Liabilities |
|
|
|
Sales Tax Deferment Loan |
|
14.143 |
|
|
|
|
|
Total |
NA |
471.741 |
CORPORATE
INFORMATION [As on 31.03.2017]
Hindusthan National Glass & Industries Limited having domicile presence in the State of West Bengal, India, has been incorporated under the Companies Act in the year 1946. It is engaged in the manufacture of container glass. The company’s shares are listed and publicly traded on the National Stock Exchange of India Limited (NSE), the BSE Limited (BSE) and The Calcutta Stock Exchange Limited (CSE).
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
Claims
against the company not acknowledged as debt |
|
|
|
Central
Excise/Sales Tax matter under appeals |
NA |
117.122 |
|
Excise Duty and Octroi
demand issued against which the Company has preferred appeals and which in
the opinion of the management are not tenable. |
NA |
167.581 |
|
Cases pending with labour
courts (to the extent ascertainable) |
NA |
56.205 |
|
Other Claims against the
Company not acknowledged as debt. |
NA |
113.888 |
|
Octroi on Transportation
of natural gas through pipeline. |
NA |
35.113 |
|
Income
Tax under Appeal for the A Y 2011-12 |
NA |
0.130 |
|
Other money for which the
Company is contingently liable |
|
|
|
Interest
on Disputed Entry Tax* |
NA |
25.541 |
|
Right
to Recompense of Lenders as per CAP guidelines |
NA |
723.200 |
|
Guarantees
excluding financial guarantee |
|
|
|
Guarantee
furnished to banks on behalf of Subsidiary |
NA |
0.000 |
|
Guarantee furnished to
bank on behalf of an entity over which directors of the Company has
significant influence. |
NA |
180.000 |
* The Hon’ble Supreme
Court vide its order dated 11th November, 2016 has upheld the constitutional
validity of levy of Entry Tax. This is being given effect to by the various
state governments subject to follow up decisions before various judicial forums
and appropriate authorities and the amount of said levy is yet to be
determined. Pending outcome and final decision, no provision has been made for
interest liability and has been shown as contingent liability to the extent
determinable.
FIXED ASSETS: [As on 31.03.2017]
Tangible Assets
· Freehold Land
· Leasehold Land
· Buildings
· Plant and Equipments
· Furniture and Fixtures
· Vehicles
· Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.26 |
|
UK Pound |
1 |
INR 91.22 |
|
Euro |
1 |
INR 79.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
IND |
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.