MIRA INFORM REPORT
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Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
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Name : |
KABRA EXTRUSION TECHNIK LIMITED |
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Registered Office : |
Kolsite House, 31 Shah Industrial Estate, Off |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
21.10.1982 |
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Com. Reg. No.: |
11-28535 |
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CIN No.: [Company
Identification No.] |
L28900MH1982PLC028535 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK11319A |
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PAN No.: [Permanent
Account No.] |
AAACK4289L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares
are Listed on the Stock Exchanges. |
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Line of Business : |
Manufacturer of Plastic Processing Machinery. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3497956 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Anand Kabra |
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Designation : |
Director |
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Contact No.: |
91-9322302755 |
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Date : |
12.04.2011 |
LOCATIONS
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Registered Office : |
Kolsite House, 31 Shah Industrial Estate, Off |
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Tel. No.: |
91-22-26734822-24 / 56952681 / 26367551 / 26330272 |
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Mobile No.: |
91-9322302755 (Mr. Anand Kabra) |
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Fax No.: |
91-22-26735041/56952680/26367512/26326336 |
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E-Mail : |
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Website : |
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Factory: |
Kachigam, Daman Industrial Estate, Plot No. 14 and 15,
Kachigam, Daman - 396210, |
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Tel. No.: |
91-260-2241401-3/2242616 |
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Fax No.: |
91-260-2241965 |
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E-Mail : |
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Website: |
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Regional Office / Branch Office : |
Located at: · Ahmedabad ·
· Kolkatta · Chennai ·
·
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DIRECTORS
AS ON 31.03.2010
|
Name : |
Mr. Shreevallabh G. Kabra |
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Designation : |
Chairman and Managing Director |
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Age : |
71 Years |
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Qualification: |
B.A. (Hons) |
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Experience : |
40 Years |
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Date of Employment : |
01.04.2004 |
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Name : |
Mr. Satyanarayan Gopilal Kabra |
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Designation : |
Vice Chairman and Managing Director |
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Date of Birth/Age : |
64 Years |
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Qualification : |
B.E. (Mechanical) |
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Experience : |
v Over 41 Years in business and industry. v Promoters of Kolsite Group of Companies. |
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Nature of Expertise : |
v Management and Control of Business and Industrial Houses. |
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Other Directorship : |
v Plastiblends
v Kabra Winder Limited v Kolsite Maschine Fabrik Private Limited v Smartech Global Solutions Limited v Wonder World Resorts Limited v Mahashree Plastic Industries Private Limited v Anand Varun Finance Private Limited |
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Name : |
Mr. Anand Shreevallabh Kabra |
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Designation : |
Director |
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Date of Birth/Age : |
35 Years |
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Qualification : |
B. E. (Mechanical), M.B.A. in Family Business |
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Experience : |
v 10 Years in Business and Industry |
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Nature of Expertise : |
v Information Technology System v Material Management v Quality Systems and Standards v Technology Upgradation in manufacturing process for quality and cost control v Project Execution and Plant Management. |
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Other Directorship : |
v Kolsite Maschine Fabrik Private Limited v Plastiblends
v Smartech Global Solutions Limited v Wonder World Resorts Limited |
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Name : |
Mr. Haridas Sagatmal Sanwal |
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Designation : |
Director |
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Date of Birth/Age : |
68 Years |
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Qualification : |
M. Com., LLM., FCS, FCIS ( |
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Other Directorship: |
v Plastiblends
v Kolsite Maschine Fabrik Limited v Kabra Winders Limited v All Purpose Consultants and Services Private Limited v Harekrishna Harerama Trading Company Private Limited v Welworth Investment and Trading Company Private Limited v Elegant Trading and Investments Company Private Limited v Ideal Consultancy Services Private Limited v See
Diff Software Solutions ( |
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Name : |
Mr. Mahavir Prasad Surajmal Taparia |
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Designation : |
Director |
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Date of Birth/Age : |
65 Years |
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Qualification : |
B. A. |
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Other Directorship: |
v Siltap Chemicals Limited v Supreme Petrochem Limited v The Supreme Industries Limited v Supreme Capital Management Limited v Dherand Chemical Terminal Limited v Multilayer Films Private Limited v Jagatguru Investment and Trading Company Private Limited v Polystrene
Producers Association ( |
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Name : |
Mr. Yagnesh Kumar Bhagwati Prasad Desai |
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Designation : |
Director |
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Date of Birth/Age : |
67 Years |
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Qualification : |
B. A. (Hons) CAIIB |
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Nature of Expertise : |
v General Banking v International Banking and Trade Finance |
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Other Directorship : |
v LIC Housing Finance Limited v Dishman Pharmaceuticals and Chemicals Limited v Deutsche
Trustee Services ( |
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Name of the other companies in which holds committee
position : |
v LIC Housing Finance Limited v Dishman Pharmaceuticals and Chemicals Limited v Deutsche
Trustee Services ( |
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Name : |
Mr. Nihalchand C. Chauhan |
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Designation : |
Director |
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Date of Birth/Age : |
72 Years |
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Qualification : |
B.Com *Hons), LLB, CAIIB |
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Nature of Expertise : |
v Banking and Finance v Investment Policy and Portfolio Management. |
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Other Directorship : |
v IBS Forex Limited v Encee Securities Private Limited v Supreme Petrochem Limited |
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Name of the other companies in which holds committee
position : |
v Supreme Petrochem Limited |
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Name : |
Mr. Punamchand C. Parmar |
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Designation : |
Director |
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Qualification : |
B. Com. FCA., L.L.B. |
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Name : |
Mr. Haridas S. Sanwal |
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Designation : |
Director |
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Qualification : |
M. Com., LL.M., F.C.S., F.C.I.S. ( |
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Name : |
Mr. S. N. Kabra |
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Designation : |
Director |
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Qualification : |
B. E. (Mechanical) |
KEY EXECUTIVES
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Name : |
Mr. Y D Sanghavi |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding of Promoter and Promoter Group |
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10,945,200 |
34.31 |
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6,882,432 |
21.57 |
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17,827,632 |
55.88 |
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Total shareholding of Promoter and Promoter Group (A) |
17,827,632 |
55.88 |
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(B) Public Shareholding |
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4,400 |
0.01 |
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2,400 |
0.01 |
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6,800 |
0.02 |
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912,440 |
2.86 |
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5,267,561 |
16.51 |
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2,812,826 |
8.82 |
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5,075,061 |
15.91 |
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608,741 |
1.91 |
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4,466,320 |
14.00 |
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14,067,888 |
44.10 |
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Total Public shareholding (B) |
14,074,688 |
44.12 |
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Total (A)+(B) |
31,902,320 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plastic Processing Machinery. |
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Products : |
v Steel for Barrels v Extrusion Screws v Thrust Box (Geared) Housing Assembly v Thyristor Drive v Single and Twin Screw Extrusion Plants v Die Heads for PVC Pipe Extrusion v Double Spider Die Head (RD) v Die Heads for Polyolefin Pipe Extrusion v Vaccum Calibrators and Spray Baths v Calibrating Sleeves v Pipe Haul off Units v Pipe Cut off Units v Twin Pipe Extrusion v Three Layer Blown Film Plants v LLDPE/HM-HDPE/LDPE Blown Film Plants v RPVC/SPVC Blown Film Plants v PP Blown Film Plants v High – Output HM Blown Film Plnats v Mixer Coolers v PVC Compounding Mixer – Coolers v Semi Automatic Belling Machine v Kolsite Battenfeld Twin Screw RPVC Pipe Plants v HDPE Pipe Plants v Cable Coating Plants v Monofilament/Box Strapping Plants v High Speed PP/HDPE Tape Plants v Kolsite – Battenfeld PVC Pelletizing Plants v Extrusion Coating Plants
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Exports : |
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Product: |
Spare Parts for Plastic Extrusion Plant and Machinery |
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Countries : |
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Import : |
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Product: |
Spare Parts, Raw Material, Filter Belt |
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Countries : |
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Terms : |
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Selling : |
L/C / Cash / Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash / Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Actual Production |
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Single and Twin Screw Extrusion Plants |
408 |
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Extrusion Barrels |
866 |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
Tel No : 91-22-22160926 |
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Facilities : |
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Auditors : |
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Name : |
A.A.G Ogale and Company Chartered Accountant |
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Address: |
Pune, |
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Associates : |
v Wonderworld Resorts Limited v Anand Varun Finance Private Limited v v Plastiblends
v Kolsite Maschine Fabrik Limited v Maharshree Plastic Industries Private Limited v Plastic and Industries Smartech Global solutions Limited v Rambalab Ramnaran v Kolsite Industries v Jayprakash
v United Socio Economic Development and Research Programme (UNDARP) v v Parmar Softech Systems Private Limited v IDBI Principal Assets Investment Management Company Limited v Parmar Foods Parmar Construction and Properties v All Purpose Consultations and Services Private Limited v Harekrishna Harerama Trading Company Private Limited v Ideal Consultancy Services Private Limited v Welworth Investments and Trading Company Private Limited v Elegant Trading and Investments Company Private Limited v See
Diff Software Solutions ( v SPL Industrial Park Limited v SPL Industrial Support Services Limited v Rama News Print and Papers Limited v Siltap Chemicals Limited v Supreme Petrochem Limited v Supreme Capital Management Limited v Dherand- Chemical Terminal Limited v Multilayer Films Private Limited v Jagatguru Investment and Trading Company Private Limited v Jeetmal Chhogmal v LIC Housing Finance Limited v Dishman Pharmaceuticals and Chemicals Limited v Deutsche
Trustee Service ( v International Consultants and Technocraft Private Limited v
Organisation of Plastic Processors of v
IBS Forex Limited v
Encee Securities Private Limited v
Chemical and Petro Chemicals Manufacturers Assn. v
Polysterene Producers Association |
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Subsidiaries : |
v Kabra Winders Limited v Kolsite Maschine Fabrik Private Limited v
Plastiblends v Mahashree Plastic Industries Private Limited v
v Smartech Global Solutions Limited v Rambalab Ramnaran v Kolsite Industries |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity shares |
Rs.10/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
79,75,580 |
Equity shares |
Rs.10/- each |
Rs.79.756 Millions |
Note:
(Of the above shares 36,14,500 Equity shares of
Rs.10/- each were allotted as fully paid up bonus shares by capitalization of
securities premium account.)
Authorised Capital : Rs. 200.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.159.512
Millions
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
79.756 |
79.756 |
79.756 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
794.733 |
645.412 |
584.411 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
874.489 |
725.168 |
664.167 |
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LOAN FUNDS |
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1] Secured Loans |
80.783 |
93.073 |
64.166 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
80.783 |
93.073 |
64.165 |
|
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DEFERRED TAX LIABILITIES |
42.166 |
38.524 |
31.752 |
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TOTAL |
997.438 |
856.765 |
760.084 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
477.840 |
397.590 |
405.524 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
455.480 |
219.155 |
109.881 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
410.733
|
402.649
|
391.883
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Sundry Debtors |
106.516
|
123.486
|
185.896
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Cash & Bank Balances |
8.325
|
15.633
|
9.382
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Other Current Assets |
0.000
|
0.000
|
0.000
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|
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Loans & Advances |
51.366
|
66.509
|
68.061
|
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Total
Current Assets |
576.940
|
608.277
|
655.222
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
140.594 |
103.912 |
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Other Current Liabilities |
218.293
|
138.770
|
279.312
|
|
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Provisions |
153.935
|
125.575
|
131.231
|
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Total
Current Liabilities |
512.822
|
368.257
|
410.543
|
|
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Net Current Assets |
64.118
|
240.020
|
244.679
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
997.438 |
856.765 |
760.084 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income and Other Income |
1973.048 |
1576.361 |
1505.514 |
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TOTAL (A) |
1973.048 |
1576.361 |
1505.514 |
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Less |
EXPENSES |
|
|
|
|
|
|
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Raw Material Consumed |
1266.859 |
1040.873 |
1039.791 |
|
|
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Manufacturing Expenses |
195.636 |
200.054 |
152.737 |
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|
|
Employees Emoluments and Staff welfare |
138.325 |
126.209 |
114.645 |
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Increase / ( Decrease ) in stock in progress |
22.912 |
3.949 |
(34.377) |
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|
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TOTAL (B) |
1623.732 |
1371.085 |
1272.796 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
349.316 |
205.276 |
232.718 |
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|
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|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.141 |
7.935 |
6.913 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
342.175 |
197.341 |
225.805 |
|
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.895 |
36.581 |
33.736 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
308.280 |
160.760 |
192.069 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
93.643 |
43.772 |
45.677 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
214.637 |
116.988 |
146.392 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
345.074 |
296.072 |
221.946 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
140.000 |
12.000 |
15.000 |
|
|
|
Dividend |
55.829 |
47.853 |
47.853 |
|
|
|
Tax on Dividend |
9.488 |
8.133 |
8.133 |
|
|
BALANCE CARRIED
TO THE B/S |
354.394 |
345.074 |
296.072 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
778.554 |
558.886 |
534.464 |
|
|
TOTAL EARNINGS |
778.554 |
558.886 |
534.464 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
117.097 |
148.259 |
156.435 |
|
|
TOTAL IMPORTS |
117.097 |
148.259 |
156.435 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.91 |
14.67 |
NA |
|
Expected Sales (2010-2011) : Rs. 2000.000 Millions.
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
439.270 |
563.140 |
471.220 |
|
Total Expenditure |
374.480 |
482.500 |
402.700 |
|
PBIDT (Excl OI) |
64.790 |
80.640 |
68.520 |
|
Other Income |
3.020 |
44.060 |
2.460 |
|
Operating Profit |
67.810 |
124.700 |
70.980 |
|
Interest |
1.560 |
1.140 |
0.720 |
|
PBDT |
66.250 |
123.560 |
70.260 |
|
Depreciation |
9.050 |
9.290 |
9.310 |
|
Profit Before Tax |
57.200 |
114.270 |
60.950 |
|
Tax |
13.000 |
30.000 |
25.000 |
|
Profit After Tax |
44.200 |
84.270 |
35.970 |
|
Net Profit |
44.200 |
84.270 |
35.970 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.88
|
7.42
|
9.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.23
|
15.98
|
18.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.22
|
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.68
|
0.64
|
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.65
|
1.60 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
140.594 |
103.912 |
NA |
HISTORY
Incorporated in 1982, Subject was set up with the objective of
manufacturing twin screw extruder machines, complete with downstream facilities
for the manufacture of PVC pipes, profiles, sections and granules in technical
collaboration with Battenfield Extrusion Technik,
Ever since its public issue in May '89, subject has shown attractive growth in
sales and net profit. The company also set up a plant at
Subject has entered into a joint venture agreement with Georg Sahm,
During the year 1999-2000, the company entered into a new collaboration
agreement with Battenfeld Extrusionstechnik GmbH, for manufacturing Twin Screw
Plastic Extrusion Machinery BEX - 2 series along with post extrusion
equipments.
The company had issued bonus shares during the financial year 2003-04 and
subsequent to the bonus issue, the paid up equity of the company has risen to
Rs. 68.600 millions.
During 2003-04,Kabra Winders Limited ceases to be a subsidiary of the company
since the dilution of equity holding from 74.90% to 29.30% in that company.
OPERATION AND
OUTLOOK:
The Company has achieved the Operational and Other Income for the year under review at Rs.1973.048 millions as against the previous years' Operational and Other income of Rs.1576.361 millions an increase of 25.16%. The profit before tax amounts to Rs.308.279 millions against the previous years' profit of Rs.160.760 millions an increase of 91.76%. Net Profit of the Company after tax, deferred tax and tax provision of earlier year amounts to Rs.214.637 millions as against Rs.116.988 millions of the previous year an increase of 83.47%.
EXPORTS:
Exports during the year is Rs.784.400 millions, as against previous years' export of Rs.575.300 Millions an increase of 36.35% and is 40.27% of total sales turnover.
MANAGEMENT
DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE
AND ITS DEVELOPMENTS:
The Company is engaged in capital goods sector, manufacturing Plastic Extrusion Machinery, specialising in manufacture of plants to produce a wide range of Plastic Pipes i.e. PVC, HOPE, LDPE, PP, Composite Pipes etc. PVC pipes sector has almost 40% share of total PVC resin business. Pipe extrusion machinery is the largest market and the Company has about 65% share in this segment. The extrusion machinery industry, being linked to plastic consumption, has significant growth potential.
PVC pipes consumption has been recording high double digit volume growth. Traditionally, pipes were used in agriculture and irrigation but are now increasingly used for drinking water and sewage applications. The boom in housing, construction and infrastructure sectors would ensure growth momentum for PVC pipes.
HOPE pipes segment is an upcoming growth area with
applications in telecom ducting, water supply, irrigation, fuel gas
distribution, etc. The company has been manufacturing hi-tech HOPE pipe plants
which has significant growth potential in
OPPORTUNITIES:
Recognising Company's capabilities in building global
products at competitive costs, the range of plants being exported is steadily
increasing. The Company has been awarded with certificate of Export Excellence
by the Engineering Export Promotion Council,
Technological obsolescence, market conditions, growing competition including imports are considered to be the threats.
OUTLOOK:
The Company's business being global in nature, the outlook for margins and profitability also depends upon overall global economic outlook and demand supply scenario.
The Company's in-house R&D having decades of engineering experience and advanced designing software has enabled it to regularly introduce latest products.
The continuous inflow of latest technology is available from
the technical collaborator Battenfeld Extrusionstechnik GmbH,
Customer relationship is very strong resulting into nearly cent percent repeat business. At the same time, there is no excessive dependence on any single customer.
Considering its leadership, large potential in domestic as well as export markets and continuous technological innovation, the Company is confident of recording an even better performance going forward.
Trade References:
- Glow Industries, Mumbai
- Jatson Power Private Limited,
Fixed Assets
v Freehold land
v Building
v Furniture and Fixtures
v Plant and Machinery
v Vehicles
UNAUDITED FINANCIAL RESULTS FOR
THE QUARTER ENDED 31ST DECEMBER, 2010
Rs. in Millions
|
Particular |
Quarter Ended |
Nine Months
Ended |
|
|
31.12.2010 |
31.12.2010 |
|
|
|
|
|
(a)
Net Sales / Income from operations |
466.450 |
1467.644 |
|
(b)
Other Operating Income |
4.774 |
5.985 |
|
Expenditure |
|
|
|
a)
(Increase) / Decrease in stock in trade and work in progress |
(38.294) |
(75.010) |
|
b)
Consumption of raw materials |
343.886 |
1054.880 |
|
c)
Purchase of traded goods |
0.000 |
0.000 |
|
d)
Employees cost |
44.617 |
129.310 |
|
e)
Depreciation |
9.309 |
27.643 |
|
f)
Other expenditure |
52.480 |
150.486 |
|
Total |
411.998 |
1287.309 |
|
Profit
from operations before other income, interest and exceptional Items |
59.226 |
186.320 |
|
Other
income |
2.461 |
49.540 |
|
Profit
before interest and exceptional Items |
61.687 |
235.860 |
|
Interest |
0.716 |
3.419 |
|
Profit after Interest but
before Exceptional Items |
60.971 |
232.441 |
|
Exceptional
Items |
0.000 |
0.000 |
|
Profit (+)/Loss(-) from
Oridinary Activities before tax |
60.971 |
232.441 |
|
Tax
expense |
25.000 |
68.000 |
|
Net Profit (+)/Loss(-) from
Ordinary Activities after tax |
35.971 |
164.441 |
|
Extra Ordinary items |
0.000 |
0.000 |
|
Net
Profit (+) / Loss (-) for the year period |
35.971 |
164.441 |
|
Paid up
equity share capital (Face value of Rs.10/- per share) |
159.512 |
159.512 |
|
Reserves
excluding revaluation reserves as per balance sheet of previous accounting
year |
-- |
-- |
|
Earning
per share (EPS) |
|
|
|
(a) Basic and diluted EPS
before Extraordinary items for the period, for the year
to date and for the previous year (not to be
annualised) |
1.13 |
5.15 |
|
(a) Basic and diluted EPS
before Extraordinary items for the period, for the year
to date and for the previous year (not to be
annualised) |
1.13 |
5.15 |
|
Public
shareholding |
|
|
|
Number of shares |
14074688 |
14074688 |
|
Percentage of shareholding |
44.12 |
44.12 |
|
|
|
|
|
Promoters
and Promoters group Shareholding- |
|
|
|
a)
Pledged /Encumbered |
|
|
|
Number
of shares |
Nil |
Nil |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
Nil |
Nil |
|
Percentage
of shares (as a % of total share capital of the company) |
Nil |
Nil |
|
|
|
|
|
b)
Non Encumbered |
|
|
|
Number
of shares |
17827632 |
17827632 |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
100.00 |
100.00 |
|
Percentage
of shares (as a % of total share capital of the company) |
55.88 |
55.88 |
Note:
- The above results were reviewed by the audit committee and approved
by the board of directors at their meeting held on 3rd February
2011
- These accounts have been subjected to a “Limited Review” by the
statutory auditors of the company
- Provision for deferred taxation will be ascertained at the end of
financial year.
- Prior period figures have been regrouped/ restated wherever
necessary to make them comparable
- The company is operating only in one segment i.e. Plastic Extrusion Machinery
and Allied Equipment
- No complaints were received during the quarter and neither was any
complaint pending at the beginning of the quarter.
- In compliance of AS-20 issued by ICAI, EPS of corresponding period
in previous year and financial year ended 31st March 2010 have
been reported considering split of shares and bonus issued made during the
current fiscals.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.20 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.