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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

512185

Report Date :

29.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

BLUE STAR LIMITED

 

 

Formerly Known As :

BLUE STAR ENGINEERING COMPANY (BOMBAY) PRIVATE LIMITED

 

 

Registered Office :

Kasturi Building, Mahant Advani Chowk, Jamshedji Tata Road, Mumbai – 400020, Maharashtra

Tel. No.:

91-22-66654000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2018

 

 

Date of Incorporation :

20.01.1949

 

 

Com. Reg. No.:

11-006870

 

 

Capital Investment / Paid-up Capital :

INR 192.000 Million

 

 

CIN No.:

[Company Identification No.]

L28920MH1949PLC006870

 

 

IEC No.:

[Import-Export Code No.]

0388021454

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACB4487D1ZS

 

 

TIN No.:

27140000065

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACB4487D

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company’s business segments are organised around product lines as under:

 

a. Electro Mechanical Projects and Packaged Air-conditioning Systems includes central air-conditioning projects, Electrical Contracting business and Packaged air-conditioning businesses including manufacturing and after sales service.

 

b. Unitary Products includes cooling appliances, cold storage products, including manufacturing and after sales service.

 

c. Professional Electronics and Industrial Systems includes trading and services for testing machines, medical, analytical, test & measuring, data communications, industrial products and systems (divested as on March 31, 2015). (Registered Activity)

 

 

No. of Employees :

[As on 31.03.2017]

2498 (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++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Status :

Excellent 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1949 and based in Mumbai. It is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, residential and institutional customers.

 

The operations of the company are categorized into three segments Electro Mechanical Projects and Packaged Air-conditioning systems segment, cooling products segment and professional electronics and industrial systems segment.

 

As per financials of March 2018, the company has registered a growth of 6.65% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 3.21%.

 

Rating takes into consideration the company’s established track record of business operations marked by healthy net worth along with low debt balance sheet and good liquidity position.

 

Rating also takes into account the strong market domination position in the air-conditioning and cooling products and highest market share of its segments.

 

Share are quoted are very high on Stock Exchanges. (Share are traded at a price of INR 702.05 against its face value of INR 2 on BSE.)

 

However, rating strength is partially offset by high working capital intensity, inherent to the nature of business and inherent risk involved in execution of large/mid-sized orders.

 

Payments are reported to be regular as per commitment.

 

In view of aforesaid, the company can be considered good for business dealings at normal 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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term rating = AA+

Rating Explanation

High degree of safety and very low credit risk.

Date

23.11.2017

 

Rating Agency Name

CARE

Rating

Short term rating = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

23.11.2017

 

 

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 29.05.2018.

 

 

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 BY

 

Name :

Mr. Anil Harish

Designation :

Additional Director

Contact No.:

91-8527968882

Date :

28.05.2018

 

[91-22-66654000 is continuously ringing]

 

 

LOCATIONS

 

Registered/ Corporate Office :

Kasturi Building, Mahant Advani Chowk, Jamshedji Tata Road, Mumbai – 400020, Maharashtra, India

Tel. No.:

91-22-66654000

Mobile No.:

91-8527968882 [Mr. Anil Harish]

Fax No.:

91-22-66654151/ 66654152

E-Mail :

sanjeev_sehgal@vsnl.com

info@bluestarindia.com

kptkutty@bluestarindia.com

sangameshwar@bluestarindia.com

phalgunankumran@bluestar.com

vijaydevadiga@bluestarindia.com

wraccounts@bluestarindia.com

Website :

http://www.bluestarindia.com

 

 

Head Office:

Block 2A, DLF Corporate Park DLF Qutub Enclave, Phase-III, Mehrauli Gururam Road, Gurgaon-122022, Haryana, India

 

 

Factory 1 :

Nahan Road, Rampur Jattan Kala Amb, District Sirmour, Himachal Pradesh 173030, India

Tel. No.:

91-1702-238760

Fax No.:

91-1702-238461

 

 

Factory 2 :

Nahan Road, Village Ogli, Kala Amb, District Sirmour – 173030, Himachal Pradesh, India

Fax No.:

91-1702-238761

 

 

Factory 3 :

Village Vasuri Khurd Khanivali Road Po: Khupari Taluka: Wada Dist: Thane – 421312, Maharashtra, India

 

 

Factory 4:

Survey No. 265/2, Demni Road, U. T. of Dadra and Nagar Haveli – 396193, India

Tel. No.:

91-260-2668617/ 2668618

Fax No.:

91-260-2668503

 

 

Factory 5:

501/3, 503/2, Tejpur Road, Sarkhej Baula Highway, Changodar, Ahmedabad -  382 213, Gujarat, India

Tel No.: 

91-2717-294490

 

 

Branch Office :

Anjuman Kayaar Towers, No 28, Ward 27, Mission Road, Bangalore - 560027, Karnataka, India

 

 

Divisional Offices :

Chennai
9 Bazullah Road, T Nagar, Chennai – 600017, Tamilnadu, India
Tel: 91-44-4344 4000
Fax: 91-44-28158015/ 43444072

 

Mumbai
Bandbox House, 4th Floor, 254 D, Dr Annie Besant Road, Worli, Mumbai – 400030, Maharashtra, India

Tel: 91-22-66544000

Fax: 91-22-66544001

 

 

Regional Offices:

·         Abhishree Avenue, 3rd Floor, Near Nehru Nagar, Cross Roads, Ambawadi Road, Ahmedabad – 380015, Gujarat, India

 

·         Blue Star House, 9A, Ghatkopar Link Road, Sakinaka, Mumbai – 400072, Maharashtra, India

Tel. No.: 91-22-66684000

Fax No.: 91-22-66684004

 

·         Block 2-A, DLF Corporate Park, DLF Qutab Enclave, Phase III, Gurgaon -122002, Haryana, India

Tel. No.:  91-124-4094000

Fax No.: 91-124-4094004

 

·         7, Hare Street, Kolkata - 700 001, West Bengal, India

Tel. No.: 91-33-22134000

Fax No.: 91-33-22134102

 

·         No.104, Old No. 46, Garuda Buildings, Cathedral Road, Chennai – 600086, Tamilnadu, India

Tel. No.:  91-44-42444000

Fax No.: 91-44-42444190

 

 

Sales and Services Offices:

Located at

 

·         Ahmedabad

·         Bengaluru

·         Bhubaneswar

·         Chandigarh

·         Ghaziabad

·         Chennai

·         Goa

·         Guwahati

·         Indore

·         Jaipur

·         Jamshedpur

·         Kochi

·         Lucknow

·         Ludhiana

·         Mumbai

·         Nagpur

·         New Delhi

·         Patna

·         Pune

·         Raipur

·         Secunderabad

·         Thane

·         Thiruvananthapuram

·         Vadodara

·         Visakhapatnam

 

 

Overseas Offices :

Located at

 

·         Malaysia

·         U.A.E.

·         U.S.A.

 

 

DIRECTORS

 

AS ON 31.03.2018

 

Name :

Mr. Balasubramanian Thiagarajan

Designation :

Managing Director

Address :

201, Lightbridge, Hiranandani Medows, Mrs. Glady's Alvares Road, Thane - 400601, Maharashtra, India

Brief Profile :

B Thiagarajan is a Bachelor of Engineering in Electrical and Electronics from Madurai University. He has also completed the Senior Executive Program of London Business School. He has over three decades of experience, having worked for reputed companies such as Larsen & Toubro Ltd, BPL Systems Ltd

and Voltas Ltd, prior to joining Blue Star in 1998.

 

Thiagarajan has handled various assignments in the Service business, Corporate Communications & Marketing and Corporate Affairs & Planning before he was promoted as President - AC&R Products Group in 2009. Under his leadership, the AC&R products business of the Company grew significantly.

 

In 2013, Thiagarajan was elevated as Executive Director & President - AC&R Products Business. He was appointed as Joint Managing Director in 2016, and currently oversees Sales, Marketing, Supply Chain and Service Operations pertaining to the Products Business; Manufacturing and R&D; Corporate Communications; Public Relations; Corporate Marketing Services as well as Human Resources.

 

Thiagarajan plays an active role in various industry fora, and is the Past President of RAMA. He is a nominated member of the CII National Council, Co-chairperson of the CII Agriculture Council, and Vice Chairman of CII Maharashtra State Council.

Date of Appointment :

13.05.2013

DIN No.:

01790498

 

 

Name :

Mr. Vir Suneel Advani

Designation :

Managing Director

Address :

232, Urvashi, Petit Hall, Nepeansea Road, Mumbai - 400006, Maharashtra, India

Brief Profile :

Vir S Advani holds Bachelors Degrees in Systems Engineering and in Economics from the University of Pennsylvania. He has also completed a comprehensive Executive Management Program on Leadership Development at Harvard Business School.

 

Vir, after a 2-year working stint in private equity in New York, joined Blue Star Infotech Ltd in 2000 and then founded Blue Star Design & Engineering Ltd in 2003, designated as its Chief Executive Officer.

 

In 2007, he moved to Blue Star as Vice President - Corporate Affairs, where he made valuable contributions in a profit improvement programme as well as in electro-mechanical projects. He was promoted as Executive Vice President in 2008; President - Corporate Affairs & Special Projects in 2009 and Executive Director in 2010. In April 2016, Vir was appointed as the Managing Director of the Company, and currently oversees the Electro-Mechanical Projects business, the International Business Group, Corporate Financial Services, Corporate Planning and Investor Relations, apart from Blue Star Engineering & Electronics Ltd.

 

Vir is a Director of Blue Star Engineering & Electronics Ltd. He is a member of the CII International Council as well as a member of two CII National Committees; namely Exports as well as Real Estate and Building Technology.

Date of Appointment :

01.07.2016

DIN No.:

01571278

 

 

Name :

Mr. Dinesh Nanik Vaswani

Designation :

Additional Director

Address :

7th Floor, B/13, Sterling 38, Peddar Road, Mumbai - 400026, Maharashtra, India

Brief Profile :

Dinesh N Vaswani is the Founder and Managing Director of Acuitas Capital Advisors, a multi-family investment office focused on advising families on their investment portfolios in India. He has over three decades of experience in both investing in operating companies in India and the US. He holds an MBA from the Wharton School of Business and a BBA cum laude from the University of Texas at Austin.

 

Dinesh was a Managing Director at Temasek Holdings, established Bessemer Venture Partners’ operations in India, and was CEO of Blue Star Infotech USA. He has served on a number of Boards of public and private companies including Firstsource, Mindtree, Venture Infotech, and Borosil.

Date of Appointment :

01.12.2016

DIN No.:

00306990

 

 

Name :

Mr. Suneel M Advani

Designation :

Vice Chairman

Address :

232, Urvashi, Petit Hall Complex,, Nepeansea Road, Gamdevi, Mumbai - 400006, Maharashtra, India

Brief Profile :

Suneel M Advani is a double graduate in Electrical Engineering and Economics from MIT, USA. He also holds an LLB degree from Mumbai University.

 

Suneel spent his entire working career in Blue Star, joining as a Management Trainee in 1969 and moving up steadily to President and Vice Chairman in 1984. He retired from his executive position in 2014, and was designated as Vice Chairman of the Board. He has been elevated as the Chairman of the Board from December 2016. Suneel established Blue Star’s presence in computer software development and export, and when this division was spun off to become Blue Star Infotech Ltd in 2000, he assumed the position of Chairman there and later, Managing Director as well, in addition to his responsibilities in Blue Star.

 

In the span of his career, Suneel formed many joint ventures with global majors such as HP, Motorola and Stork-Comprimo in the hi-tech area, and with smaller Indian entities in the air conditioning field. For Blue Star and Blue Star Infotech, he conceived and completed several corporate acquisitions. Over the years, he served on the managing councils of several industry and trade bodies, such as CII, and is the founder and a Past President of Refrigeration and Air Conditioning Manufacturers’ Association (RAMA).

Date of Appointment :

03.03.1983

DIN No.:

00001709

 

 

Name :

Mrs. Shobana Kamineni

Designation :

Director

Address :

10-3-316/A, Masab Tank, Hyderabad - 500028, Telangana, India

Brief Profile :

Shobana Kamineni holds a Bachelor’s Degree in Economics and has an Accelerated Diploma in Hospital Administration from Columbia University, New York. She is Executive Vice Chairperson of Apollo Hospitals Enterprise Ltd, and a member of its founding family. Shobana is at the helm of Apollo Global Projects Consultancy that steers the planning, design and execution of new projects. She spearheads Apollo Pharmacy - India’s largest pharmacy chain. She is the founder and a Wholetime Director on the Board of Apollo Munich Health Insurance.

 

Shobana joined the Board of Blue Star in 2014. She is Vice Chairperson of the KEI Group; an Independent Director on the Board of Hero MotoCorp Ltd; Advisor to the External Board of CISCO India; and on the Advisory Council of the National Cadet Corp. As an active member of CII, Shobana was elected as President for 2017-18. She has been a recipient of prestigious national awards for Entrepreneurship and Leadership.

Date of Appointment :

30.05.2014

DIN No.:

00003836

 

 

Name :

Mr. Shailesh Haribhakti

Designation :

Director

Address :

10 and 11 Sahil Apartment, S K Barodawala Road, 14 Altamount Road, Cumballa Hill, Mumbai - 400026, Maharashtra, India

Brief Profile :

Shailesh Haribhakti is Chairman of Haribhakti & Co LLP (Chartered Accountants), New Haribhakti Business Services LLP, and Mentorcap Management Pvt Ltd. Evolving from a background in Audit, Tax and Consulting, Shailesh seeks to create enduring value for companies and organisations he is

involved in by being a deeply-engaged Independent Director. His strong belief is that good governance creates a sustainable competitive advantage. He is a strong supporter of a clean and green environment, and is pioneering the concept of ‘innovating to zero’ in the social context.

 

Shailesh is currently Chairman & Trustee of the National Pension Scheme Trust; member of Pension Advisory Committee of Pension Fund Regulatory & Development Authority; Chairman of L&T Finance Holdings Ltd; and Chairman of Future Lifestyle Fashions Ltd. He serves on several Boards of multinational as well as Indian companies, and is also a member of many Advisory Boards. He is an associate with IIM-Ahmedabad and several other management institutions as well as industry and professional forums.

Date of Appointment :

31.10.2005

DIN No.:

00007347

 

 

Name :

Mr. Gurdeep Singh

Designation :

Director

Address :

M-1, Breach Candy Apartments, Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India

Brief Profile :

Gurdeep Singh is a Chemical Engineering Graduate from IIT Delhi and has attended the Advanced Management Program at Harvard Business School. After graduation, he joined Hindustan Unilever Ltd as a Management Trainee. He held various senior positions in the company, including Vice President - Technical, before he was expatriated to Brazil as Technical Director of the Unilever Detergents business.

 

Gurdeep returned to Hindustan Unilever Ltd in 1998 as Director - Human Resources, Corporate Affairs and Technology, and retired from the company in 2003. He joined the Board of Blue Star in 2003. He is also on the Boards of several leading companies including Kloeckner Pentaplast India Pvt Ltd, Tecnova India Ltd, and Gateway Rail Freight Ltd.

Date of Appointment :

23.05.2003

DIN No.:

00036922

 

 

Name :

Mr. Sam Baman Balsara

DIN No.:

Director

Address :

47, Malcolm Baug S. V. Road, Jogeshwari (West), Mumbai-400102, Maharashtra, India

Brief Profile :

Sam Balsara is Chairman & Managing Director of Madison World, which is amongst India’s largest media buying and communication agencies. He holds a Bachelor’s degree in Commerce and a post graduate diploma from Jamnalal Bajaj Institute of Management Studies. He has over 45 years of extensive experience in marketing, advertising and media. Sam started his career at Sarabhai’s in 1972, and held various stints in Cadbury India Ltd, Contract Advertising Company (WPP) and Mudra Communications, before founding Madison World in 1988.

 

Sam has won many accolades such as ‘ The Most Influential Person in Media’ by Economic Times-Brand Equity for the last 10 consecutive years; recipient of IAA Leadership Award for Media Agency Professional of the Year, 2013; recipient of ‘Lifetime Achievement Award’ in 2009 from Advertising Agencies Association of India; and jury member at the International Festival of Advertising in Cannes in 2005 as well as 2014; to name a few. He has held prestigious positions in several associations such as Past President of AAAI of which he continues to be an Executive Committee Member; Past Chairman of The Advertising Standards Council of India 2000-2001 and presently its Advisor; amongst several others. Sam joined the Blue Star Board in June 2017.

Date of Appointment :

20.06.2017

DIN No.:

00076942

 

 

Name :

Mr. Anil Harish

Designation :

Additional Director

Address :

13, C.C.I. Chambers, 1st Floor, Dinshaw Wacha Road, Mumbai-400020, Maharashtra, India

Date of Appointment :

22.11.2017

DIN No.:

00001685

 

 

Name :

Mr. Rajiv Lulla

Designation :

Additional Director

Address :

3503 A, Vivarea Sane Guru Ji Marg, Jacob Circle, Mumbai - 400011, Maharashtra, India

Brief Profile :

Rajiv R Lulla is a Senior Advisor at Voltaire Capital (UK), and the Founder of Voltaire Capital (India), a technology-enabled trading firm operating in the UK, US and recently in India. He holds a Bachelor’s Degree in Mechanical Engineering with Electronics from King’s College, London, and an MBA from Imperial College, London.

 

Rajiv has nearly 25 years of experience primarily as an investment banker engaged in merger advisory and corporate finance, and has completed transactions representing a combined value in excess of USD 220 billion. He has held a variety of senior leadership roles at Merrill Lynch, the Credit Agricole Group, and Deutsche Bank, based in New York, London, Paris and Hong Kong.

Date of Appointment :

01.12.2016

DIN No.:

06384402

 

 

KEY EXECUTIVES

 

Name :

Mr. Vijay Devadiga

Designation :

Company Secretary

Address :

A/403, RNA Regency Park Co-Op HSG Society Limited, Kandivali (West), Mumbai - 400067, Maharashtra, India

Date of Appointment :

01.06.2015

PAN No.:

BAHPD7201A

 

 

Name :

Mr. Neeraj Basur

Designation :

Chief Financial Officer

Address :

5501, ATS Green II, Sector, Sector 50, Noida, Gautam Budha Nagar, Noida -  201307, Uttar Pradesh, India

Date of Appointment :

01.08.2014

PAN No.:

ABLPB1589P

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2018

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

(A) Promoter & Promoter Group

37329643

38.89

(B) Public

58670145

61.11

 

 

 

Grand Total

 

95999788

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

1,44,47,356

15.05

 

SUNEEL M ADVANI

56,26,827

5.86

 

NARGIS SUNEEL ADVANI

28,36,936

2.96

 

SUNEETA NANIK VASWANI

22,44,482

2.34

 

ROHINA LULLA

11,68,594

1.22

 

ANISSA KHANNA

11,26,787

1.17

 

SUNEEL M ADVANI (HUF)

5,39,669

0.56

 

NANIK RAMCHAND VASWANI

4,24,761

0.44

 

SANJAY N VASWANI

1,05,775

0.11

 

VIR S ADVANI

74,625

0.08

 

SUNAINA S ADVANI

72,525

0.08

 

UDAY VIR ADVANI

50,000

0.05

 

SUMER SANDEEP MURTHY

50,000

0.05

 

ARMAAN SANDEEP MURTHY

50,000

0.05

 

ANITA ASHOK ADVANI

30,000

0.03

 

DINESH NANIK VASWANI

26,750

0.03

 

DEV KHANNA

19,625

0.02

 

Any Other (specify)

2,23,35,397

23.27

 

vistra itcl (india) limited

1,19,55,601

12.45

 

IL AND FS TRUST COMPANY LIMITED

77,19,930

8.04

 

ASHOK MOHAN ADVANI

25,99,744

2.71

 

J T ADVANI FINANCE PRIVATE LIMITED

60,122

0.06

 

Sub Total A1

3,67,82,753

38.32

 

A2) Foreign

0.00

 

Individuals (NonResident Individuals/ Foreign Individuals)

5,46,890

0.57

 

NANIK RAMCHAND VASWANI

5,07,640

0.53

 

RANA RAJIV LULLA

19,625

0.02

 

IMAN RAJIV LULLA

19,625

0.02

 

Sub Total A2

5,46,890

0.57

 

A=A1+A2

3,73,29,643

38.89

 

 

 

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

 

Mutual Funds/

20024331

20.86

 

Hdfc Trustee Company Ltd - A/C Hdfc Mid - Capopportunities Fund

5276678

5.50

 

Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Equity Fund

5076493

5.29

 

Sundaram Mutual Fund A/C Sundaram Select Midcap

2880474

3.00

 

Icici Prudential Value Discovery Fund

1853276

1.93

 

Franklin India Smaller Companies Fund

1775685

1.85

 

Uti-Mastershare Unit Scheme

1387000

1.44

 

Alternate Investment Funds

1252840

1.31

 

Foreign Portfolio Investors

7500799

7.81

 

First State Indian Subcontinent Fund

1500205

1.56

 

The Scottish Oriental Smaller Companies Trustplc

1098029

1.14

 

Financial Institutions/ Banks

26858

0.03

 

Insurance Companies

71205

0.07

 

Any Other (specify)

478199

0.50

 

Sub Total B1

29354232

30.58

 

B2) Central Government/ State Government(s)/ President of India

0

0.00

 

Central Government/ State Government(s)/ President of India

249615

0.26

 

Sub Total B2

249615

0.26

 

B3) Non-Institutions

0

0.00

 

Individual share capital upto INR 0.200 Million

18783672

19.57

 

Individual share capital in excess of INR 0.200 Million

6481613

6.75

 

Any Other (specify)

3801013

3.96

 

Trusts

93558

0.10

 

Foreign Nationals

833

0.00

 

HUF

324488

0.34

 

Overseas Corporate Bodies

17

0.00

 

Non-Resident Indian (NRI)

1201409

1.25

 

Director or Director's Relatives

22900

0.02

 

Non-Resident Indian (NRI)

319028

0.33

 

Clearing Members

66206

0.07

 

Market Maker

328

0.00

 

Bodies Corporate

1772246

1.85

 

Sub Total B3

29066298

30.28

 

B=B1+B2+B3

58670145

61.11

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company’s business segments are organised around product lines as under:

 

a. Electro Mechanical Projects and Packaged Air-conditioning Systems includes central air-conditioning projects, Electrical Contracting business and Packaged air-conditioning businesses including manufacturing and after sales service.

 

b. Unitary Products includes cooling appliances, cold storage products, including manufacturing and after sales service.

 

c. Professional Electronics and Industrial Systems includes trading and services for testing machines, medical, analytical, test & measuring, data communications, industrial products and systems (divested as on March 31, 2015). (Registered Activity)

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

[As on 31.03.2017]

2498 (Approximately)

 

 

Bankers :

[As on 31.03.2017]

·         The Hong Kong and Shanghai Banking Corporation Limited

·         Corporation Limited

·         State Bank of India

·         Oriental Bank of Commerce

·         BNP Paribas

·         Kotak Mahindra Bank Limited

·         IDBI Bank Limited

·         IDFC Bank Limited

·         ICICI Bank Limited

·         DBS Bank Limited

·         Standard Chartered Bank

 

 

Facilities :

SECURED LOAN

31.03.2018

(INR in Million)

31.03.2017

(INR in Million)

SHORT-TERM BORROWINGS

 

 

Packing credit loan account from banks

 

400.000

Cash Credit/Bank overdrafts

 

496.688

Buyers’ credit from banks

 

95.657

 

 

 

Total

 

NA

992.345

 

Auditors :

[As on 31.03.2017]

 

Name :

S R B C and Company LLP

Chartered Accountants

Address :

14th Floor The Ruby 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028 Maharashtra India

Tel No.:

91-22-61920000

Fax No.:

91-22-61921000

 

 

Internal Auditors :

[As on 31.03.2017]

 

Name :

Mahajan and Aibara

Chartered Accountants

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries :

[As on 31.03.2017]

·         Blue Star Engineering and Electronics Limited (erstwhile Blue Star Electro-Mechanical Limited).

·         Blue Star Design and Engineering Limited (Up to January 31 2015)

·         Blue Star Qatar- WLL

·         Blue Star Infotech (UK) Limited (BSIUK) (April 1 2015 to December 31 2015)

·         Blue Star Infotech America Inc. (BSIA) (April 1 2015 to December 31 2015)

·         Blue Star Infotech (Singapore) Pte Limited (BSISG) (April 1 2015 to December 31 2015)

·         Blue Star Infostack Solutions PTE. Limited (subsidiary of BSISG) (April 1 2015 to December 31 2015)

·         Blue7 Solutions LLC USA (subsidiary of BSIA) (April 1 2015 to December 31 2015)

·         Blue Star Infostack (Malaysia) SDN. Bhd. (subsidiary of BSISG) (April 1 2015 to December 31 2015)

 

 

Associate  :

[As on 31.03.2017]

Blue Star Infotech Limited (up to March 31 2015)

 

 

Joint Ventures  :

[As on 31.03.2017]

·         Blue Star M & E Engineering (SDN) BHD

·         Blue Star Oman Electro-Mechanical Co. LLC

 

 

Enterprises in which a Director is a member/director:

[As on 31.03.2017]

·         KEIMED Private Limited

·         Apollo Munich Health Insurance Company Limited

·         Apollo Hospital Enterprises Limited

·         Pragati Leadership Institute Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2018

 

Authorised Capital : Not Available

 

Issued Subscribed & Paid-up Capital : INR 192.000 Million

 

 

AFTER 11.08.2017

 

Authorised Capital : INR 575.000 Million

 

Issued Subscribed & Paid-up Capital : INR 192.006 Million

 

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

7.8% Cumulative Convertible Preference Shares

INR 100/- each

INR 1.000 Million

283600000

Equity Shares

INR 2/- each

INR 567.200 Million

16000

Unclassified Shares

INR 100/- each

INR 1.600 Million

520000

Cumulative Compulsorily Convertible Preference Shares

INR 10/- each

INR 5.200 Million

 

Total

 

INR 575.000 Million

 

Issued Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

95570388

Equity Shares

INR 2/- each

INR 191.141 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

192.000

191.141

179.902

(b) Reserves & Surplus

9661.000

8986.430

7826.087

(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)

9853.000

9177.571

8005.989

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

71.500

40.477

50.773

(d) long-term provisions

122.000

107.699

83.958

Total Non-current Liabilities (3)

193.500

148.176

134.731

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3200.200

1492.345

2856.700

(b) Trade payables

14468.800

11069.123

10346.592

(c) Other current liabilities

3393.300

3963.587

3677.308

(d) Short-term provisions

333.500

347.852

306.222

Total Current Liabilities (4)

21395.800

16872.907

17186.822

 

 

 

 

TOTAL

31442.300

26198.654

25327.542

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2348.000

2161.009

1923.157

(ii) Intangible Assets

561.200

437.057

385.306

(iii) Capital work-in-progress

183.800

215.196

62.694

(iv) Intangible assets under development

69.300

120.877

100.740

(b) Non-current Investments

2763.300

2745.686

2771.098

(c) Deferred tax assets (net)

878.100

1045.339

1053.958

(d)  Long-term Loan and Advances

199.800

194.307

214.389

(e) Other Non-current assets

1044.500

994.701

1413.571

Total Non-Current Assets

8048.000

7914.172

7924.913

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

1580.682

(b) Inventories

8224.000

5804.496

5154.769

(c) Trade receivables

9548.100

8127.634

6895.226

(d) Cash and cash equivalents

650.700

779.992

425.384

(e) Short-term loans and advances

85.200

54.125

36.961

(f) Other current assets

4886.300

3518.235

3309.607

Total Current Assets

23394.300

18284.482

17402.629

 

 

 

 

TOTAL

31442.300

26198.654

25327.542

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2018

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Revenue from Operations

44251.500

41490.899

35619.720

 

Other Income

79.500

343.834

237.996

 

TOTAL

44331.000

41834.733

35857.716

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed and components consumed and projected related cost 

21417.900

20690.311

18378.966

 

Purchases of Stock-in-Trade

10605.900

8599.243

6508.563

 

Changes in inventories of finished goods work-in-progress and Stock-in-Trade

(1934.600)

(210.942)

(612.921)

 

Employees benefits expense

3587.700

3097.841

3250.382

 

Other expenses

8030.700

6949.684

5872.919

 

Excise Duty on sale of goods

91.800

369.941

317.941

 

Exceptional items

(178.500)

0.000

(300.772)

 

TOTAL

41620.900

39496.078

33415.078

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

2710.100

2338.655

2442.638

 

 

 

 

Less

FINANCIAL EXPENSES                       

146.900

306.112

361.345

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

2563.200

2032.543

2081.293

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

605.700

549.717

550.084

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX                        

1957.500

1482.826

1531.209

 

 

 

 

Less

TAX                                                                 

538.200

363.135

262.202

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX               

1419.300

1119.691

1269.007

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

2416.508

 

Royalty Know-how Professional & Consultation fees

 

 

13.092

 

Dividend

 

 

18.170

 

Interest

 

 

0.000

 

Software Services

 

 

1043.054

 

Other Income:

 

 

 

 

Commission

 

 

0.093

 

Others

 

 

0.000

 

TOTAL EARNINGS

NA

NA

3490.917

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials & Components

 

5198.051

 

Capital goods

 

 

231.915

 

Spares

 

 

119.540

 

Traded Goods

 

 

3561.830

 

TOTAL IMPORTS

NA

NA

9111.336

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

 

 

 

Basic

14.82

11.73

13.31

 

Diluted

14.76

11.68

13.28

 

 

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/(used in) operations

NA

1248.981

3003.257

 

 

 

 

Net cash flow from/(used in) operating activities

NA

1289.625

2707.732

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Average Collection Days

(Sundry Debtors / Income * 365 Days)

78.76

71.50

70.66

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

4.63

5.10

5.17

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

164.91

137.94

151.74

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.33

0.40

0.47

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.86

0.80

0.99

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.68

0.64

0.68

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.32

0.16

0.36

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.17

1.84

2.15

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.32

0.32

0.31

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

18.45

7.64

6.76

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2018

31.03.2017

31.03.2016

Net Profit Margin

((PAT / Sales) * 100)

%

3.21

2.70

3.56

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

4.51

4.27

5.01

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

14.40

12.20

15.85

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2018

31.03.2017

31.03.2016

Current Ratio

(Current Assets / Current Liabilities)

1.09

1.08

1.01

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.71

0.74

0.71

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.31

0.35

0.32

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

16.67

7.81

15.88

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.09

1.08

1.01

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 2.00/-

 

 

Market Value

INR 702.05/-

 

 

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

179.902

191.141

192.000

Reserves & Surplus

7826.087

8986.430

9661.000

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

8005.989

9177.571

9853.000

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

2856.700

1492.345

3200.200

Total borrowings

2856.700

1492.345

3200.200

Debt/Equity ratio

0.357

0.163

0.325

 

 

 

 

 

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

35619.720

41490.899

44251.500

 

 

16.483

6.654

 

 

 

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

35619.720

41490.899

44251.500

Profit

1269.007

1119.691

1419.300

 

3.56%

2.70%

3.21%

 

 

 

 

LEGAL CASES

 

http://54.234.29.250/ferretops/mirascreenshots/5a531731d4e3765f5a00016f5a53186fd4e3760236001b38.jpg

 

 

 

This is archived version of case. To check in ecourt site please go to link. then click on Case Status. Select state : Gujarat, district : Vadodara, court complex name : INDUSTRIAL COURT, VADODARA and enter on of party name with case year from registration date




Top of Form

 

INDUSTRIAL COURT, VADODARA

Case Details

Case Type : REF-IT
Filing Number: 387/2014Filing Date: 04-10-2014
Registration No.: 387/2014Registration Date: 04-10-2014
CNR NO: GJVD14-000400-2014

 

Case Status

First Hearing Date : 06th December 2014
Next Hearing Date: 07th May 2016
Stage of Case: For w.s. of First party
Court No. and Judge : 3-MEMBER, INDUSTRIAL COURT

Petitioner and Advocate

1) BLUE STAR WORKER S UNION
    Address - C/O DIPAKKUMAR MOHANLAL JADAV,BLOCK NO. 515, SHAKTI NAGAR SOCIETY,NEAR SHAKTINATH TEMPLE,BHARUCH,BHARUCH


Respondent and Advocate

1) BLUE STAR LTD.
    Address - PLOT NO. 4 5 GIDC, NARMADANAGER,BHARUCH,BHARUCH


Acts

Under Act(s)

Under Section(s)

INDUSTRIAL DISPUTES ACT, 1947

010

History of Case Hearing

 

 

Registration No.

Judge

Business On Date

Hearing Date

Purpose of hearing

387/2014

MEMBER, INDUSTRIAL COURT

06-12-2014

06-01-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

06-01-2015

07-01-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

07-01-2015

09-01-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

09-01-2015

04-02-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

04-02-2015

04-03-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

04-03-2015

08-04-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

08-04-2015

06-05-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

06-05-2015

10-06-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

10-06-2015

08-07-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

08-07-2015

05-08-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

05-08-2015

09-09-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

09-09-2015

03-10-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

03-10-2015

04-11-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

04-11-2015

02-12-2015

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

02-12-2015

02-01-2016

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

02-01-2016

06-02-2016

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

06-02-2016

05-03-2016

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

05-03-2016

02-04-2016

For w.s. of First party

387/2014

MEMBER, INDUSTRIAL COURT

02-04-2016

07-05-2016

For w.s. of First party

Case Transfer Details Between The Courts

Regn. No.

Transfer Date

From Court No.
and Judge

To Court No.
and Judge

387/2014

18-05-2015 

2 - MEMBER, INDUSTRIAL COURT

3 - MEMBER, INDUSTRIAL COURT

 

 

 

 

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

No

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders if available

Yes

31

External Agency Rating if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

Yes

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

G37674579

90230518

The Hongkong and Shanghai Banking Corporation Limited

03/02/1988

10/02/2017

-

5600000000.0

52/60 M G RoadFortMumbaiMH400001IN

2

A24468159

90238557

BNP PARIBAS BANK

26/10/2005

-

18/09/2007

150000000.0

FRENCH BANK BUILDING, 62, HOMJI STREETFORTMUMBAIMH400001IN

3

Y10351952

90244315

ICICI LTD

28/03/2002

-

10/08/2005

195000000.0

ICICI TOWERS; BANDRA KURLA COMPLEXMUMBAIMH400051IN

4

Y10333806

90231015

HOUDING DEVELOPMENT FINANCE CORPORATION

31/03/1999

-

18/10/2001

74000000.0

RAMON HOUDE163 BACKBAY RECLAMATIONMUMBAIMH400020IN

5

Y10333832

90231041

CRAWFORD BAYLEY &CO

22/12/1999

-

04/04/2001

200000000.0

STATE BANK BUILDINGNGN VAIDYAMUMBAIMH400023IN

6

Y10333774

90230983

STATA BANK OF INDIA

23/01/1991

14/02/1995

17/06/1999

50000000.0

COMMERCIAL BRANCHMUMBAIMH400023IN

7

Y10333704

90230913

HOUSING DEVELOPMENT FINANCE CORPORATION

28/11/1996

-

10/11/1998

101000000.0

RAMON HOUSE169 BACKBAY RECLAMATIONMUMBAIMH400020IN

8

Y10333776

90230985

ABN AMRO BANK

31/03/1998

-

20/05/1998

30000000.0

NV NETHERLANDS THRU ABN AMRO BANK14 VEER NARIMAN POINTMUMBAIMH400023IN

9

Y10333117

90230326

MEROANTIL BANK

17/05/1981

-

02/11/1994

5000000.0

PRIVATE LTD52/60 MAHAMUMBAIMH400023IN

10

Y10333266

90230475

THE HONGKONG & SHNGHAT BANKING CORPORATION

17/12/1986

-

11/02/1991

3600000.0

52/60 MAHATMA GANDHI ROADMUMBAIMH400020IN

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2018

(INR In Million)

31.03.2017

(INR In Million)

SHORT TERM BORROWINGS

 

 

Buyers’ credit from banks

 

0.000

Commercial papers from banks

 

0.000

Commercial papers from others

 

500.000

 

 

 

Total

NA

500.000

 

 

CORPORATE INFORMATION [As on 31.03.2017]

 

Blue Star Limited (“The Company”) is into the business of central air conditioning, commercial refrigeration and water purifiers. The Company is also into distribution and maintenance of imported professional electronics and industrial systems. The Company is a public company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. Its shares are listed on two recognised stock exchanges in India. The registered office of the Company is located at Kasturi Buildings, M T Advani Chowk, Jamshedji Tata Road, Churchgate, Mumbai - 400020, Maharashtra.

 

During the previous year, Blue Star Infotech Limited (BSIL) and Blue Star Infotech Business Intelligence & Analytics Private Limited (BSIBIA) were amalgamated with the Company w.e.f April 1, 2015. BSIL and BSIBIA were mainly engaged in the Information technology and software services business. The Company has subsequently sold its IT Business as explained in note 33 to the financial statements w.e.f January 1, 2016.

 

 

AWARDS AND RECOGNITIONS [As on 31.03.2017]

 

In 2016-2017, the Company was conferred multiple awards and recognitions, both international and national, few of which are listed as follows:

 

·         Blue Star was recognised as the ‘MEP Company of the Year’ at the Annual Metro Rail India Summit 2017.

·         Blue Star Oman Electro-Mechanical Company LLC has won the ‘Most Promising MEP Contractor’ at the Dossier Construction’s Infrastructure Awards & Summit 2016.

·         Blue Star received the Brand Excellence Award in FMCG sector (Consumer Durables) in 2016.

·         Blue Star chillers were certified by the Air Conditioning, Heating, and Refrigeration Institute (AHRI) for achieving a 100% success rate in the performance testing of the air cooled as well as water cooled chillers in 2016.

·         The Company won the Water Digest Awards 2017 for the ‘Best Domestic RO+UV Purifier’ in the country.

 

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2018

(INR In Million)

31.03.2017

(INR In Million)

Claims against the Company not acknowledged as debts

NA

2.465

Sales Tax matters

NA

442.976

Excise Duty matters

NA

64.568

Service Tax matters

NA

1514.253

Income Tax matters

NA

616.992

 

 

FIXED ASSETS [As on 31.03.2017]

 

Tangible Assets

 

·         Land – Freehold

·         Land – Leasehold

·         Building Sheds and Road

·         Plant & Machinery

·         Furniture & Fixtures

·         Office Equipments

·         Vehicles

·         Computers

 

Intangible Assets

 

·         Technical Knowhow

·         Software

 

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

Indian Rupees

US Dollar

1

INR 67.44

UK Pound

1

INR 89.89

Euro

1

INR 79.00

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHA

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

IND

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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)

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.