MIRA INFORM REPORT
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Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT FOILS LIMITED |
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Registered Office : |
3436 – 3449, Chhatral GIDC, Phase – IV, Tal: Kalol, District
Gandhinagar – 382 721, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
16.11.1992 |
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Com. Reg. No.: |
018570 |
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CIN No.: [Company
Identification No.] |
L28999GJ1992PLC018570 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMG00263E |
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Legal Form : |
It is a Public Limited Liability Company. The company's shares are listed on the Stock Exchanges. |
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Line of Business : |
Manufacture of aluminium rolled products and other related
products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 1940000 |
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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 a well established and
company with satisfactory track. Trade relations are fair. Business is
active. Payments are usually correct. The company can be considered good for normal business dealings under
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
|
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 DECLINED BY
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Name : |
Mr. Vishnu Swarankar |
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Designation : |
Finance Manager |
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Contact No. |
91-9426559601 |
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Date : |
22.11.2010 |
LOCATIONS
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Registered Office/ Factory : |
3436 – 3449, Chhatral GIDC, Phase – IV, Tal: Kalol, District
Gandhinagar – 382 721, |
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Tel. No.: |
91-2712-233656/ 233657 |
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Fax No.: |
91-2712-233658 |
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E-Mail : |
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Website : |
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Corporate Office : |
308, 3rd Floor, Ceejay House, |
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Tel. No.: |
91-22-24812000 |
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Fax No.: |
91-22-24812122 |
DIRECTORS
As On 31.03.2010
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Name : |
Mr. Abhay N Lodha |
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Designation : |
Chairman |
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Address : |
603, Vaitarna, |
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Date of Birth / Age : |
01.06.1971 |
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Date of Appointment : |
14.07.2008 |
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Name : |
Mr. Pramod Kumar Jain |
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Designation : |
Managing Director |
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Address : |
A – 71, Phase I, Ashok Vihar, |
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Date of Birth / Age : |
12.10.1961 |
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Date of Appointment : |
01.10.2008 |
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Name : |
Mr. Vimal Kumar Somani |
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Designation : |
Additional Director |
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Address : |
803, Godavari Worli Sagar CHS, |
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Date of Birth / Age : |
06.06.1965 |
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Date of Appointment : |
14.07.2008 |
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Name : |
Mr. Pradeep Jagdish Saxena |
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Designation : |
Additional Director |
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Address : |
2, Rajjab Mahal, |
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Date of Birth / Age : |
03.03.1948 |
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Date of Appointment : |
14.07.2008 |
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Name : |
Mr. Govind Navnithal Shah |
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Designation : |
Additional Director |
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Address : |
37, Ashok Nagar Society, |
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Date of Birth / Age : |
03.0.1941 |
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Date of Appointment : |
08.08.2008 |
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Name : |
Mr. Pramod H Jain |
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Designation : |
Director |
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Address : |
F – 29, Kotiyaknagar Shastri Baug, Vadodara |
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Date of Birth / Age : |
12.08.1947 |
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Date of Appointment : |
16.04.2003 |
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Name : |
Mr. Satish Chander Gupta |
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Designation : |
Independent Director |
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Address : |
A – 1/135, Inder Puri, |
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Date of Birth / Age : |
05.05.1947 |
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Date of Appointment : |
31.01.2009 |
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Name : |
Mr. Vijay Gian Chand Chadha |
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Designation : |
Director |
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Address : |
Flat No. 602, B – Safal Pride, Plot No. 1, Sec – 25, Nerul, Navi
Mumbai |
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Date of Birth / Age : |
04.02.1947 |
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Date of Appointment : |
12.07.2009 |
KEY EXECUTIVES
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Name : |
Mr. Pranvesh Kumar Tripathi |
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Designation : |
Secretary |
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Address : |
D – 5/57 ,Green Fields Apt, J.V. Link Road, Opp. Fantacy Land, Andhri
(E), Mumbai – 400093, Maharashtra, India |
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Name : |
Ms. Roshni |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Category of Shareholder |
Total No. of
Shares |
% of total No.
of Shares |
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(A) Shareholding of Promoter and Promoter Group |
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4,133,641 |
50.40 |
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1,544,071 |
18.83 |
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5,677,712 |
69.23 |
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Total shareholding of Promoter and Promoter Group (A) |
5,677,712 |
69.23 |
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(B) Public Shareholding |
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184,254 |
2.25 |
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347,537 |
4.24 |
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1,983,554 |
24.18 |
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|
8,753 |
0.11 |
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|
7,076 |
0.09 |
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|
1,677 |
0.02 |
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2,524,098 |
30.77 |
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Total Public shareholding (B) |
2,524,098 |
30.77 |
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Total (A)+(B) |
8,201,810 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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- |
- |
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- |
- |
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- |
- |
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Total (A)+(B)+(C) |
8,201,810 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of aluminium rolled products and other related
products. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
Note: a. Term Loan
from State Bank of b. Term Loan
from Dena Bank, Mumbai has been secured by first pari-passu charge on Entire
fixed assets i.e. factory building and other fixed assets of Existing and
Expansion plant and second paripassu charge on all the current assets with
other working capital lenders. c. Wind Mill
Term Loan from Allahabad Bank, IFB, d. Working
capital cash credit loan from Allahabad Bank, IFB, e. The loans at
(c) and (d) above are further secured by Second charge on Entire fixed assets
of the company except wind mill ranking pari-passu with other Working Capital
Lenders. In addition to the above, EM of some properties of Smt. Chandan
Jain, Smt. Sulochana Jain and Shri Pramod Jain. Guarantees given by the
earlier promoter as collateral securities is still continuing pending release
from the Banks for which necessary action has been initiated. Shri Pramod
Jain, the earlier Promoter has resigned from the Board due to health reason. f. Cash Credit
from Oriental Bank of Commerce, Mumbai, secured by first parri passu charge
by way of hypothecation of Stock of Raw Material, Stock in process, finished
goods, Stores and Spares and Receivables on pari-passu with other working
capital lenders. g. Working
capital cash credit from state bank of h. Working
capital cash credit from Dena Bank, Corporate business branch, Mumbai has
been secured by first parri passu charge by way of hypothecation of entire
current assets with other working capital lenders and second pari passu
charge on entire fixed assets of the company with SBI, Allahabad Bank, and
OBC. i. Car loans from HDFC Bank and Kotak Mahindra Prime Limited have been
secured by hypothecation of respective cars. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
H.R. Agarwal and Associates Chartered Accountants |
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Address : |
219-C, |
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Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
9000000 |
Equity Shares |
Rs. 10 /- each |
Rs. 90.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
8201810 |
Equity Shares |
Rs. 10 /- each |
Rs.82.018 Millions |
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Add : Share Application Money |
|
Rs.238.400 Millions |
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Add : Forfeited Shares |
-- |
Rs. 300 /- |
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Total |
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Rs.320.418 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 |
320.418 |
82.018 |
65.703 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
165.211 |
146.244 |
45.403 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
485.629 |
228.262 |
111.106 |
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LOAN FUNDS |
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1] Secured Loans |
706.572 |
305.195 |
105.556 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
706.572 |
305.195 |
105.556 |
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DEFERRED TAX LIABILITIES |
27.026 |
13.139 |
13.444 |
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TOTAL |
1219.227 |
546.596 |
230.106 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
763.535 |
55.077 |
56.725 |
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Capital work-in-progress |
43.811 |
273.381 |
0.000 |
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INVESTMENT |
0.000 |
10.572 |
0.000 |
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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 |
407.803
|
157.104
|
215.543
|
|
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Sundry Debtors |
219.115
|
212.026
|
150.800
|
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Cash & Bank Balances |
31.497
|
13.536
|
14.769
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
148.348
|
34.170
|
29.435
|
|
Total
Current Assets |
806.763
|
416.836
|
410.547 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Sundry Creditors |
332.721
|
182.153
|
0.000
|
|
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Current Liabilities |
55.441
|
16.955
|
234.923
|
|
|
Provisions |
6.720
|
10.162
|
2.243
|
|
Total
Current Liabilities |
394.882
|
209.270
|
237.166
|
|
|
Net Current Assets |
411.881
|
207.566
|
173.381
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
|
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TOTAL |
1219.227 |
546.596 |
230.106 |
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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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|
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|
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Income |
1308.349 |
745.466 |
834.883 |
|
|
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Other Income |
1.245 |
16.367 |
3.200 |
|
|
|
TOTAL (A) |
1309.594 |
761.833 |
838.103 |
|
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|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials |
1217.867 |
684.644 |
819.078 |
|
|
|
Other Manufacturing Expenses |
95.022 |
35.652 |
25.460 |
|
|
|
Increase/(Decrease) in Finished Goods |
(88.649) |
3.265 |
(50.667) |
|
|
|
TOTAL (B) |
1224.240 |
723.561 |
793.871 |
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
85.354 |
38.272 |
44.232 |
|
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|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.281 |
23.255 |
12.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.073 |
15.017 |
31.397 |
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.466 |
8.690 |
8.392 |
|
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|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
39.607 |
6.327 |
23.005 |
|
|
|
|
|
|
|
|
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Less |
TAX (H) |
20.640 |
3.381 |
8.292 |
|
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|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
18.967 |
2.946 |
14.713 |
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
48.349 |
45.403 |
30.690 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
67.316 |
48.349 |
45.403 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
20.428 |
0.280 |
NIL |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
128.187 |
12.671 |
NA |
|
|
|
Capital Goods |
162.008 |
168.809 |
NA |
|
|
TOTAL IMPORTS |
290.195 |
181.480 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.31 |
0.43 |
2.46 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
413.660 |
471.720 |
639.580 |
|
Total Expenditure |
362.970 |
411.900 |
583.920 |
|
PBIDT (Excl OI) |
50.690 |
59.820 |
55.660 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
50.690 |
59.820 |
55.660 |
|
Interest |
23.470 |
27.260 |
20.690 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
27.220 |
32.560 |
34.970 |
|
Depreciation |
19.610 |
19.660 |
19.780 |
|
Profit Before Tax |
7.610 |
12.900 |
15.190 |
|
Tax |
1.410 |
2.390 |
2.820 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
6.200 |
10.510 |
12.370 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
6.200 |
10.510 |
12.370 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.44
|
0.39
|
1.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.02
|
0.85
|
2.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.52
|
1.34
|
4.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.03
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.32
|
2.25
|
3.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04
|
1.99
|
1.73 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
Subject was incorporated in Nov.'92, promoted by Kishor
Patel, Naresh Patel and Nilkamal Kajiwala, with the object of setting up
facilities for the manufacture of aluminium rolled products and other related
products. The company set up a project at Chhatral (Mehsana district),
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 Rs.
in Millions |
31.03.2009 Rs.
in Millions |
31.03.2008 Rs.
in Millions |
|
Sundry Creditors |
332.721
|
182.153
|
0.000
|
PRESENT OPERATIONS
The company's operations
were satisfactory during the year under review. The sales of the company ended
at Rs 1373.044 millions in comparison to the previous year Rs. 821.280
millions. The sales increased by 67.18%. The profit for the year has also
increased by more than 100% during
the year. The Directors are confident of achieving more better results in the
years to come. Increase in Profit is a result of Company's increased turnover
in consumer retail products and successful commissioning of the New German technology based ACHENBACH Foil
Plant at Chhatral G.I.D.C., Gandhinagar, (
FUTURE PROSPECTS
The Company has
successfully completed brown field expansion and commissioned the New Foil
Plant at Company's Chhatral G.I.D.C., Gandhinagar, (
Retail Business of
the Company's consumer product, i.e., kitchen foil, under the brand name
nutriwrap ®has also turned up with capturing very significant portion of market
share in the country. The Company's Turnover of retail products has increased
manifold during the year 2009- 2010. The Company has successfully initiated
actions for establishing manufacturing capacities for
EXPANSION UNDER REVIEW
(1) The Company
had signed MOU with Government of Gujarat and have already implemented its
first phase of commissioning by spending Rs. 750 millions towards world class
foil plant based on German technology from world's largest Company M/S
ACHENBACH.
(2) The Company,
in view of reducing dependence on external sources for input feed stock for its
both sheet and foil plant, is in the process of assessing possibility of
backward integration approach by establishing upstream green field expansion of
60 KT, the state-of-the-art Aluminium sheet rolling facilities along with 30 MW
captive power plant in the state of Gujarat The techno economic viability study
has just started.
(3) The Company in
order to further enhance production of value added products is examining the
possibility of producing pharma laminates and printed and converted foils with
an Investment of Rs. 260 millions.
(4) The Company
has also successfully started consumer foil project at a new facility at Indore
(MP) and has also initiated action to start a Unit at Varanasi (UP). The said
projects are likely to be operational partly in the year 2010-2011 and fully in
the year 2011-2012.
(5) The Company
has also plans to take steps to produce, commission, operate, buy, sell,
supply, distribute or otherwise deal in all energy production and conversion
activities in all its forms inclusive of but not restricted to various
renewable sources like solar energy, wind energy, all forms of biomass,
geothermal energy, hydel energy, tidal and wave energy and effective
utilization of conventional energy forms like coal, oil, gas, electricity.
The Company, while
having its dominant presence in the Indian market has improved its global
presence. During the year, the Company has been able to export to Europe,
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT:
INDUSTRY STRUCTURE AND DEVELOPMENTS
The Company is
carrying on the business of manufacturing aluminium rolled products, aluminium
foils and strips and consumer foils. Manufacturing unit is situated at Chhatral
G.I.D.C., Gandhinagar, (
OUTLOOK ON
OPPORTUNITIES, THREATS, RISKS AND CONCERNS
As far as future
outlook is concerned, the Company expects substantial increase in the area of
products and volume of business, considering the facts that the industrial
growth has picked up during the year under review and global economy has come
out of the recession effect. The Company has successfully completed brown field
expansion and commissioned the New Foil Plant at Company's Chhatral G.I.D.C.,
Gandhinagar (
The Company is
targeting Hyper marts/Super markets, Malls, Multi Brand Outlets, Department
Stores to reach their prospective customers and create awareness among them for
the use of kitchen foil and aluminium foil containers. The Company has the
privilege of having prestigious customers like Reliance, Cafe Coffee Day,
ITC-Mourya Sheraton,
FINANCIAL PERFORMANCE
Company's sales
for the year are Rs. 1373.044 millions. The Net Profit for the financial year
under review is Rs. 18.968 millions. The Sales and Profitability increased
considerably as compared to the previous year. Considerable increase in
Profitability is a result of Company's increased business in value added
segment and efficient and longterm business strategies. The strong human
resource capital was the key to success.
FIXED ASSETS:
- Land and Leasehold
- Building and Site Development
- Plant and Machinery
- Other Fixed Assets
- Vehicles
- Furniture and Fixtures
FORM 8:
|
Corporate
identity number of the company |
L28999GJ1992PLC018570 |
|
Name of the
company |
GUJARAT FOILS
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3436-3449,
Chhatral GIDC, Phase-IV, TA : Kalol District Gandhinagar, |
|
This form is for |
Modification of
charge |
|
Charge identification (ID) number of the charge to be modified |
10184139 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Memorandum |
|
Date of
instrument Creating the charge |
31.10.2009 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest as may
be stipulated by the Bank from time to time. Terms of
Repayment - On Demand Margin As may be
stipulated by the Bank from time to time. Extent and Operation
of the charge The Company
created an equitable mortgage by way of deposit of title deeds with Dena
Bank, Gujarat ("DB Gujarat"), DB Gujarat acting as agent, inter
alia, of State Bank of India, in respect of its immovable properties as
stated at item no.15 below as security for
repayment Company's dues including principal amount of the facility,
interest, liquidated damages, cost, charges and other expenses. Others The said
mortgage/charge herein created and/or to be created on the said immovable
properties for securing the working Capital facilities of DB Mumbai & SBI
shall rank Second and Subservient inter se the said Banks for all purposes
and to all intents without any priority of one over the other or others |
|
Short particulars of the property or asset(s) charged
(including complete address and location of the property) |
All that piece
& parcel of leasehold land admg 16179.76 sq.mtrs. & bearing Plot
Nos.3436 to 3439 & 3442 to 3446 in the Chhatral Industrial Area of GIDC,
Phase-IV, Kalol. |
|
Particulars of
the property charged |
The working
capital facilities of Rs.100.000 Millions sanctioned by SBI shall also be
additionally secured against Company's
immovable properties being lying and situate at Plots Nos. 3436 to 3439 and 3442 to 3446 Chhartral
Industrial Area of GIDC, Phase-IV, Kalol, Gujarat in addition to securities
already provided by the company |
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 31.12.2010
(Rs.
in millions)
|
Particulars |
Quarter Ended |
Cumulative |
|
31.12.2010 |
31.12.2010 |
|
|
1. a. Sales & Income from Operations |
639.580 |
1524.960 |
|
Less: Excise Duty |
0.000 |
0.000 |
|
Net Sales &
Income from Operations |
639.580 |
1524.960 |
|
b. Other Operating Income |
0.000 |
0.000 |
|
|
|
|
|
2. Expenditure |
|
|
|
a. (Increase)! Decrease in stocks |
(28.994) |
(124.402) |
|
b. Consumption of Raw Materials |
556.272 |
1343.203 |
|
c. Manufacturing Expenses |
0.000 |
0.000 |
|
d. Employees cost |
3.784 |
10.954 |
|
e. Depreciation |
19.785 |
59.055 |
|
f. Selling & Distribution Expenses |
0.000 |
0.000 |
|
g. Administrative / Other Expenditure |
52.857 |
129.034 |
|
Total
Expenditure |
603.704 |
1417.844 |
|
3. Profit from operations before Other Income, Interest &
Exceptional Items (1-2) |
35.876 |
107.116 |
|
4. Other Income |
0.000 |
0.000 |
|
5. Profit before Interest & Exceptional Items (3+4) |
35.876 |
107.116 |
|
6. Interest |
20.691 |
71.423 |
|
7. Profit after Interest but before Exceptional Items (5-6) |
15.185 |
35.693 |
|
8. Exceptional Items |
0.000 |
0.000 |
|
9. Profit from Ordinary Activities before Tax (7+8) |
15.185 |
35.693 |
|
10. Tax Expenses |
|
|
|
- Current |
2.815 |
6.617 |
|
- Deferred |
0.000 |
0.000 |
|
11. Net Profit from Ordinary Activities after tax (9-10) |
12.370 |
29.076 |
|
12. Extraordinary Items (net of tax expenses) |
0.000 |
0.000 |
|
13. Net Profit for the period (11-12) |
12.370 |
29.076 |
|
14. Paid up Equity Share Capital (Face Value of Rs. 5/- each) |
82.018 |
82.018 |
|
15. Reserves excluding revaluation reserves |
0.000 |
0.000 |
|
16. Earning per Share (EPS) (before & after extra ordinary items) |
|
|
|
- Basic/ Diluted Earning Per Share (Rs.) |
1.51 |
3.55 |
|
17. Public shareholding |
|
|
|
- Number of shares |
2524098 |
2524098 |
|
- Percentage of shareholding |
30.77 |
30.77 |
|
18. Promoter and
Promoter Group Shareholding |
|
|
|
a) Pledged /
Encumbered |
|
|
|
- Number of
Shares |
2234000 |
2234000 |
|
- Percentage of
Shares (as a % of total shareholding of promoter & promoter group) |
39.35 |
39.35 |
|
- Percentage of
Shares (as a % of total share capital of the Company) |
27.24 |
27.24 |
|
b)
Non-Encumbered |
|
|
|
- Number of
Shares |
3443712 |
3443712 |
|
- Percentage of
Shares (as a % of total shareholding of promoter & promoter group) |
60.65 |
60.65 |
|
- Percentage of
Shares (as a % of total share capital of the Company) |
41.99 |
41.99 |
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.44.52 |
|
|
1 |
Rs.72.72 |
|
Euro |
1 |
Rs.64.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.