|
|
|
MIRA INFORM REPORT
|
Report No. : |
512734 |
|
Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
KSH INTERNATIONAL PRIVATE LIMITED (w.e.f. 04.07.1996) |
|
|
|
|
Formerly Known
As : |
BHANDARY METAL EXTRUSION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 11/3, 11/4 and 11/5, Village Birdewadi, Chakan,
Taluka-Khed, Pune – 410501, Maharashtra |
|
Tel. No.: |
91-22-27410367 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.07.1979 |
|
|
|
|
Com. Reg. No.: |
11-141032 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 56.818 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28129PN1979PTC141032 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0396042406 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1897K |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and supplier speciality insulated copper conductors, which include Continuously Transposed Cables (CTC), Paper Insulated Copper Conductors (PICC). [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
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Litigation : |
Clear |
|
|
|
|
Comments : |
KSH International Private Limited is engaged in manufacturing,
supplying and exporting of specialty insulated copper conductors, which
include Continuously Transposed Cables (CTC), Paper insulated Copper
Conductors (PICC). The company was incorporated in the year 1979 and has its base in Pune
(Maharashtra). It is an established company having fine track records. For the financial year ended 2017, the company has achieved healthy
operational revenue and has reported fair profit margin of 4.59%
(Approximately). The company possesses sound financial risk profile marked by healthy
networth base along with fair debt level and good earning per share of the
company (i. e. earnings per share of INR 244 against face value of INR 10). The company also derives strength from its long established track
record of business operation. Trade relations are reported as fair. Business is active. Payments
terms are seems to be regular and as per commitments. In view of the aforesaid, the company can be considered for business
dealings at usual 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= BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
18.08.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating= A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
18.08.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 31.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (91-22-27410367
/ 27401425)
LOCATIONS
|
Registered Office/ Factory 1 : |
Gate No. 11/3, 11/4 and 11/5, Village Birdewadi, Chakan,
Taluka-Khed, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-22-27410367/ 27401425 |
|
Fax No.: |
91-22-27412418 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Gat No. 11/1/2 A and 11/2, Chakan - Ambethan Road, Chakan, Pune –
410501, Maharashtra, India |
|
Tel. No.: |
91-2135-256410/ 256412/256411 |
|
Fax No.: |
91-2135-256411 |
|
|
|
|
Factory 2 : |
J-25, M.I.D.C., Taloja, District Raigad – 410208, Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rajesh Kushal Hegde |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Buena Monte, NCL Co-operative, Housing Society, Off Pashan Road, Pune
– 411008, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.08.1970 |
||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
01.09.1996 |
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PAN No.: |
AALPH1682A |
||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00114193 |
||||||||||||||||||||||||||||||||||||||||||||||||
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Other
Directorship.:
|
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||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Kushal Subbayya Hegde |
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|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Buena Monte, NCL Co-operative, Housing Society, Off Pashan Road, Pune
– 411008, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.11.1938 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.07.1979 |
||||||||||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
AAEPH1412P |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Voter ID No.: |
SAO3590296 |
||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00135070 |
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Other
Directorship.:
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|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Pushpa Kushal Hegde |
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|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Buena Monte, NCL Co-operative, Housing Society, Off Pashan Road, Pune
– 411008, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.10.1948 |
||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
09.12.1983 |
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|
PAN No.: |
AAOPH0045G |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Voter ID No.: |
SAO3590783 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00137395 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship.:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rohit Kushal Hegde |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Buena Monte, NCL Co-operative, Housing Society, Off Pashan Road, Pune
– 411008, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.08.1974 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.11.2000 |
||||||||||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
AAEPH0614F |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Voter ID No.: |
MT/42/247/0054462 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00134926 |
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Other
Directorship.:
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||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Ganesh Prasad Bheemabhat |
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|
Designation : |
Whole-Time Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Elkaje House, H No.1-94, Netla Mudnur Village, Nerlakatte PO, Bantwal,
D.K. Nerlakatte – 574253, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.05.1967 |
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|
Date of Appointment : |
13.10.2010 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03274531 |
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|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Rakhi Girija Shetty |
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|
Designation : |
Director |
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|
Address : |
Pusphakamal Apartment, H. No.759/04, M.L. No.3, Deccan Gymkhana
Cooperative Housing Society, Prabhat Road, Pune – 411004, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.03.1973 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2013 |
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PAN No.: |
AHYPS4790G |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03124510 |
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Other Directorship.:
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|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Sangeeta Ramprasad Rai |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
8416 Halliford, TX CT Plano 75024 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.06.1968 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2013 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
03159740 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship.:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mrs. Kirtida Abhijit Kale |
|
Designation : |
Company Secretary |
|
Address : |
13, Manorama Co-operative Society, Hindu Colony, Naupada, Thane
(West), Thane – 400602, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1982 |
|
Date of Appointment : |
14.11.2013 |
|
PAN No.: |
ARWPK0106A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kushal Subbayya Hegde |
|
267046 |
|
Rajesh Kushal Hegde |
|
113636 |
|
Rohit Kushal Hegde |
|
113636 |
|
Pushpa Kushal Hegde |
|
73864 |
|
|
|
|
|
Total |
|
568182 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supplier speciality insulated copper conductors, which include Continuously Transposed Cables (CTC), Paper Insulated Copper Conductors (PICC). [Registered Activity] |
||||||||||
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|
|
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|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Agencies Held : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Exports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Imports : |
Not Divulged |
||||||||||
|
|
|
||||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
(Information declined by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
A.S. Alva and Company Chartered Accountants |
|
Address : |
32, Swapna Nagari, Karve Road, Pune – 411004,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABYPA9734A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
· KSH Logistics Private Limited · Kamal Diesels Private Limited · Kushal Motors and Electricals Private Limited · Shubhakamal Leasing and Investment Private Limited · Waterloo Distributors Private Limited · Waterloo Motors Private Limited · Kamal Motors · Kushal Electricals · Waterloo Motors. · Standard Diesels · Fortune Distributors (Formerly: Waterloo Distributors) · KSH Distriparks Private Limited · KSH Infra Private Limited |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
INR 100/- each |
INR 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
568182 |
Equity Shares |
INR 100/- each |
INR 56.818 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
56.818 |
56.818 |
64.916 |
|
(b) Reserves and Surplus |
655.502 |
516.995 |
392.176 |
|
(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) |
712.320 |
573.813 |
457.092 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
219.241 |
140.962 |
133.168 |
|
(b) Deferred tax liabilities (Net) |
27.750 |
22.921 |
(11.811) |
|
(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) |
246.991 |
163.883 |
121.357 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
378.079 |
353.239 |
615.428 |
|
(b) Trade
payables |
46.683 |
68.113 |
80.983 |
|
(c) Other
current liabilities |
66.696 |
52.619 |
46.857 |
|
(d) Short-term
provisions |
131.842 |
140.891 |
79.380 |
|
Total Current
Liabilities (4) |
623.300 |
614.862 |
822.648 |
|
|
|
|
|
|
TOTAL |
1582.611 |
1352.558 |
1401.097 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
758.099 |
610.272 |
331.230 |
|
(ii)
Intangible Assets |
0.000 |
0.867 |
1.655 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
22.547 |
0.030 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.114 |
0.114 |
188.628 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
5.590 |
4.072 |
2.877 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
763.803 |
637.872 |
524.420 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
299.940 |
178.611 |
188.105 |
|
(c) Trade
receivables |
405.358 |
366.413 |
599.462 |
|
(d) Cash and
bank balances |
30.415 |
63.674 |
12.748 |
|
(e)
Short-term loans and advances |
81.324 |
105.247 |
75.678 |
|
(f) Other
current assets |
1.771 |
0.741 |
0.684 |
|
Total
Current Assets |
818.808 |
714.686 |
876.677 |
|
|
|
|
|
|
TOTAL |
1582.611 |
1352.558 |
1401.097 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3012.084 |
2906.800 |
2289.380 |
|
|
Other Income |
46.800 |
38.620 |
41.489 |
|
|
TOTAL |
3058.884 |
2945.420 |
2330.869 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2413.141 |
2347.762 |
1923.788 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(74.304) |
23.957 |
(34.330) |
|
|
Employee benefit expense |
151.658 |
131.458 |
108.946 |
|
|
CSR expenditure |
1.166 |
0.000 |
0.000 |
|
|
Other expenses |
195.748 |
152.184 |
114.958 |
|
|
Extraordinary items before tax |
0.000 |
(89.733) |
0.000 |
|
|
TOTAL |
2687.409 |
2565.628 |
2113.362 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
371.475 |
379.792 |
217.507 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
99.538 |
108.032 |
74.842 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
271.937 |
271.760 |
142.665 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
40.769 |
37.581 |
35.830 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
231.168 |
234.179 |
106.835 |
|
|
|
|
|
|
|
Less |
TAX |
92.660 |
86.232 |
32.481 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
138.508 |
147.947 |
74.354 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.009 |
0.009 |
1027.220 |
|
|
TOTAL EARNINGS |
0.009 |
0.009 |
1027.220 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.011 |
0.010 |
0.011 |
|
|
Capital Goods |
0.001 |
0.000 |
0.001 |
|
|
TOTAL IMPORTS |
0.012 |
0.010 |
0.012 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
244.00 |
260.00 |
130.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
59.400 |
34.100 |
36.794 |
|
Net cash flows from (used in) operations |
116.641 |
7.501 |
(97.805) |
|
Net cash flows from (used in) operating activities |
125.361 |
49.841 |
(18.125) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
49.12 |
46.01 |
95.57 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
7.43 |
7.93 |
3.82 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
7.06 |
10.59 |
15.36 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.24 |
2.13 |
1.16 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.49 |
0.60 |
0.65 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio
[(Borrowing + Current Liabilities) / Total Assets] |
|
0.57 |
0.58 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.92 |
0.92 |
1.72 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.88 |
1.07 |
1.80 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
1.06 |
1.10 |
0.73 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
3.73 |
3.52 |
2.91 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
4.60 |
5.09 |
3.25 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
8.75 |
10.94 |
5.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
19.44 |
25.78 |
16.27 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio
[Current Assets / Current Liabilities] |
|
1.31 |
1.16 |
1.07 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.83 |
0.87 |
0.84 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.45 |
0.42 |
0.33 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
11.56 |
9.30 |
12.10 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.31 |
1.16 |
1.07 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
64.916 |
56.818 |
56.818 |
|
Reserves & Surplus |
392.176 |
516.995 |
655.502 |
|
Net
worth |
457.092 |
573.813 |
712.320 |
|
|
|
|
|
|
Long-term borrowings |
133.168 |
140.962 |
219.241 |
|
Short term borrowings |
615.428 |
353.239 |
378.079 |
|
Current maturities of
long-term debts |
36.794 |
34.100 |
59.400 |
|
Total
borrowings |
785.390 |
528.301 |
656.720 |
|
Debt/Equity
ratio |
1.718 |
0.921 |
0.922 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2289.380 |
2906.800 |
3012.084 |
|
|
|
26.969 |
3.622 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2289.380 |
2906.800 |
3012.084 |
|
Profit/ (Loss) |
74.354 |
147.947 |
138.508 |
|
|
3.25
% |
5.09
% |
4.60
% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
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 |
THE STATE OF COMPANY
AFFAIRS :
During the year the Company has earned Income of INR 3058.884 Million as compared to INR 2945.420 Million for FY 2015-16. The net profit for the year is INR 138.508 Million as against INR 147.947 Million for the previous financial year. The net profit is strictly not comparable to that of the previous year since the previous year’s net profit it consists of an extra-ordinary income of INR 89.732 Million due to eversal of past years’ depreciation in view of change in method of depreciation.
OPERATIONAL REVIEW:
Over the years, KSH has developed a reputed and established customer base both in the domestic as well as international markets. The company continues to be amongst the top suppliers of Insulated Copper conductors and Cables for application in the Capital goods sector namely transformers, motors, and wind generator segments. Over the years, the Company has been mitigating the market concentration to few customers by continuously adding new customers base as well geographic diversification. Such efforts have yielded the result by adding new customers including Indian Railways in the domestic market and few customers in international market. Also, the company’s long established association with a large number of global OEM’s ensures regular flow of repeat orders.
On the back of increase in the demand, overall efficiency improved during F.Y 2016-2017 as indicated by improvement in capacity utilization. During F.Y 2016-17, the Company has successfully completed project for de bottlenecking its operations as well as cost efficient modernization and process improvement. These measures would lead to increased production of high value conductors.
PLANS AND PROSPECTS
They continue to be optimistic for future growth of Electrical Equipment manufacturing, Power sector, and infrastructure sector who are the principal consumers of products manufactured by us.
The overall economic and industrial climate seems to be improving steadily in India. In the electrical equipment manufacturing sector and capital goods sector the government is trying to take effective steps to improve the overall fiscal, economic, and industrial climate in the country. There is an improvement in the economic and industrial sentiment. It may however take more time for the reforms to reach the grass root level and activate industrial demand.
They are continuing to invest in our higher margin product i.e. CTC, Enamelled Bunch, and speciality products because of the inherent benefits it offers to the end customers. Power Grid Corp, NTPC, other utilities are now demanding lower losses in the equipment they purchase from our customers for which our products i.e. CTC, Enamel Bunch plays a major role in reduction of losses in electrical equipment. They are also investing in better technology which will enable us to reduce our cost of manufacturing by installing more energy efficient machines and also more productive and automated machinery.
They are seeing some of our major local customers having order books full for next year especially in the higher Voltage class i.e. HVDC, 765 KV, and Large Power Transformer segments which in turn has also resulted in a better order situation for us. The situation in the lower voltage segments such as distribution transformers is more challenging due to the over capacity in the market. The long term prospects for the industry are very bright. Growth in the Power sector and Railways will happen especially since India is a power deficit country – hence they are optimistic that in the years to come the market for our products locally will grow exponentially. Internationally the scenario looks more encouraging. Most of our customers have good order books. They continue to explore new markets and add new customers to spread our risk geographically as well. The governments thrust on exports will also help us in becoming more competitive in the overseas markets.
GST implementation proposed for the next financial year will be a game changer as it will bring about a level playing field for all manufacturers.
They are looking forward to the implementation of GST in the next financial year.
Overall they are well placed in the industry with a balance of several large customers both in exports and local markets, as well as the scale of our operations which gives us better control over some of our fixed costs. Currently they are the largest manufacturer of our range of products in India. They feel that F.Y 2017 – 18 will also be a good year for our business.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
4.097 |
0.000 |
|
|
|
|
|
Total |
4.097 |
0.000 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G68330299 |
100136902 |
ICICI Bank Limited |
13/10/2017 |
- |
- |
813100.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, GU390007IN |
|
2 |
G15400120 |
100048720 |
State Bank of India |
11/08/2016 |
21/09/2016 |
- |
135000000.0 |
IFB Pune, 2nd floor, Tara Chambers, Near Mariaai Police chowky, Old Pune Mumbai Road, Wakdewadi, Pune MH411003IN |
|
3 |
G09460155 |
100044421 |
ICICI Bank Limited |
20/07/2016 |
- |
- |
950440.0 |
Landmarkrace Cource Circle, Alkapuri, Baroda, GU390015IN |
|
4 |
G42121848 |
10610900 |
ICICI Bank Limited |
23/12/2015 |
29/03/2017 |
- |
100000000.0 |
ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara, GU390007IN |
|
5 |
G03750882 |
10605560 |
State Bank of India |
09/11/2015 |
22/04/2016 |
- |
34000000.0 |
IFB Pune, 2nd floor, Tara Chambers, Near Mariaai Police Chowky, Old Pune Mumbai Road, Wakdewadi, Pune MH411003IN |
|
6 |
C40487746 |
10543119 |
ICICI Bank Limited |
24/12/2014 |
- |
- |
4000000.0 |
Landmarkrace Cource Circle, Alkapuri, Baroda GJ390015IN |
|
7 |
C61356838 |
10524081 |
State Bank of India |
15/09/2014 |
17/07/2015 |
- |
100000000.0 |
2nd floor, Tara Chambers, Near Mariaai Police Chowky Old Pune Mumbai Road, Wakdewadi, Pune MH411003IN |
|
8 |
C61356556 |
10524076 |
State Bank of India |
15/09/2014 |
17/07/2015 |
- |
50000000.0 |
2nd floor, Tara Chambers, Near Mariaai Police Chowky Old Pune Mumbai Road, Wakdewadi, Pune MH411003IN |
|
9 |
C19312677 |
10518237 |
HDFC Bank Limited |
09/08/2014 |
- |
- |
4035000.0 |
HDFC Bank House Senapati Bapat Marglower Parel (West), Mumbai, MH400013IN |
|
10 |
C18890863 |
10517577 |
Toyota Financial Services India Limited |
04/08/2014 |
- |
- |
1366000.0 |
No. 21 Centropolis, First Floor, 5th Cross Langford Road, Shanti Nagar, Bangalore, KA560025IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Other money for which company is contingently liable |
136.259 |
56.116 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
· Office equipment
Intangible assets
· 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 67.82 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KJL |
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.