MIRA
INFORM REPORT
|
Report Date : |
30.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
KOTHARI PRODUCTS LIMITED |
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Registered
Office : |
Pan Parag House, 24/19 The Mall, Kanpur-208001, Uttar Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
17.09.1983 |
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Com. Reg. No.: |
20-006254 |
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CIN No.: [Company Identification
No.] |
L16008UP1983PLC006254 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KNPK01137D |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer and Marketing of Pan Parag and the Yes brand
of bottled water. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 22000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track.
Financial position of the company is good. Fundamentals are strong and
healthy. Directors are reported as experienced, respectable and resourceful
businessmen. Their trade relations are fair. Payments are reported to be
regular and as per commitments. The company can be considered good for normal 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
|
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 |
|
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 |
LOCATIONS
|
Registered Office : |
Pan Parag House, 24/19 The Mall, Kanpur-208001, |
|
Tel. No.: |
91-512-2312171-74 |
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Fax No.: |
91-512-2312058 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Deepak Kothari |
|
Designation : |
Chairman and Managing Director |
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|
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|
Name : |
Mr. Mitesh Kothari |
|
Designation : |
Executive director |
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|
Name : |
Dr. Avinash Gupta |
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Designation : |
Director |
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|
Name : |
Mr. Pramod Kumar Tandon |
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Designation : |
Director |
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|
Name : |
Mr. Vikas Chaturvedi |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Raj Kumar Gupta |
|
Designation : |
Company Secretary |
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Audit Committee |
|
Name : |
Mr. Pramod Kumar Tandon |
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Designation : |
Chairman |
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Audit Committee
Members |
|
Name : |
Mr. Deepak Kothari |
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Designation : |
Chairman and Managing Director |
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|
Name : |
Dr. Avinash Gupta |
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Designation : |
Member |
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|
Name : |
Mr. Vikas Chaturvedi |
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Designation : |
Member |
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Shareowners’/
Investors’ Grievance Committee |
|
Name : |
Mr. Pramod Kumar Tandon |
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Designation : |
Chairman |
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|
Name : |
Mr. Deepak Kothari |
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Designation : |
Member |
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Name : |
Mr. Mitesh Kothari |
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Designation : |
Member |
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Name : |
Dr. Avinash Gupta |
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Designation : |
Member |
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Remuneration
Committee |
|
Name : |
Mr. Pramod Kumar Tandon |
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Designation : |
Chairman |
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|
Name : |
Dr. Avinash Gupta |
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Designation : |
Member |
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Name : |
Mr. Vikas Chaturvedi |
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Designation : |
Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
4,240,645 |
63.94 |
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|
733,333 |
11.06 |
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4,973,978 |
75.00 |
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Total shareholding of Promoter and Promoter Group (A) |
4,973,978 |
75.00 |
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(B) Public Shareholding |
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|
691,786 |
10.43 |
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509,981 |
7.69 |
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|
447,309 |
6.74 |
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|
8,916 |
0.13 |
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|
8,871 |
0.13 |
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20 |
- |
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|
25 |
- |
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|
1,657,992 |
25.00 |
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Total Public shareholding (B) |
1,657,992 |
25.00 |
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Total (A)+(B) |
6,631,970 |
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) |
6,631,970 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionsBUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketing of Pan Parag and the Yes brand
of bottled water. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Opening Stock |
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|
|
|
|
|
4119 |
2999.750 |
|
Purchase |
|
|
|
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|
886707 |
335698.846 |
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Cotton Overall |
Nos. |
107416 |
8000 |
|
Dell XPS Series Note Book |
Nos. |
123613 |
2800 |
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Convertor Equipment |
Nos. |
193268 |
1 |
|
Working Wheel for Ventilators |
Nos. |
215394 |
2 |
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Water Cleaning and Processing Plant |
Nos. |
218196 |
1 |
|
Bearing Sheel for Convertor |
Nos. |
57474 |
2 |
|
Diesel Generator Cast Mine |
Nos. |
205331 |
3 |
|
PVC WS 1000S |
|
14061 |
363.000 |
|
PP F1611 |
|
2766 |
48.000 |
|
PVC – S – 65D |
|
35779 |
831.000 |
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PVC RESIN – P225-2P15 |
|
12675 |
300.000 |
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Closing Stock |
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VINILEN – 140 – PVC – RESIN |
|
2730 |
54.000 |
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Citric Acid Monohydrate |
|
906 |
22.000 |
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PVC LACOVYL S 6703 |
|
9201 |
153.000 |
GENERAL INFORMATION
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Bankers : |
UCO Bank, MID Corp Branch, UCO Bank Building, 359, D.N. Road, Fort,
Mumbai – 400023, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mehrotra and Mehrotra Chartered Accountants |
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Address : |
16/49, Civil Lines, |
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Associate/Subsidiaries : |
Associate Companies:
Subsidiary
Companies:
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs. 110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6631970 |
Equity Shares |
Rs.10/- each |
Rs. 66.320 Millions |
Note:
6631970 Equity Shares of Rs. 10/- each fully paid up (Including 4800000
shares of Rs. 10/- each allotted as fully paid up Bonus Shares by
Capitalization of General Reserve)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
66.320 |
66.320 |
66.320 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5455.738 |
4942.005 |
5565.400 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
5522.058 |
5008.325 |
5631.720 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
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2] Unsecured Loans |
78.685 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
78.685 |
0.000 |
0.000 |
|
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DEFERRED TAX LIABILITIES |
7.608 |
5.200 |
0.080 |
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|
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|
|
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TOTAL |
5608.351 |
5013.525 |
5631.800 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
101.355 |
93.420 |
237.400 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
2207.431 |
3756.648 |
3562.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.836
|
4.119 |
97.900 |
|
|
Sundry Debtors |
929.560
|
19.760 |
517.900 |
|
|
Cash & Bank Balances |
992.915
|
420.136 |
46.800 |
|
|
Other Current Assets |
0.000
|
0.722 |
11.700 |
|
|
Loans & Advances |
2729.163
|
1159.507 |
1891.200 |
|
Total
Current Assets |
4664.474
|
1604.244 |
2565.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
913.285
|
|
|
|
|
Other Current Liabilities |
3.906
|
156.607 |
260.200 |
|
|
Provisions |
447.718
|
226.759 |
473.400 |
|
Total
Current Liabilities |
1364.909
|
440.787 |
733.600 |
|
|
Net Current Assets |
3299.565
|
1163.457 |
1831.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5608.351 |
5013.525 |
5631.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3487.165 |
965.430 |
2006.900 |
|
|
|
Other Income |
830.732 |
156.076 |
615.200 |
|
|
|
TOTAL (A) |
4317.897 |
1121.506 |
2622.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed |
3105.594 |
466.437 |
|
|
|
|
Increase / Decrease in Stock |
0.000 |
13.990 |
|
|
|
|
Excise Duty |
0.000 |
178.001 |
|
|
|
|
Manufacturing, Selling, distribution and Administrative Expenses |
384.324 |
336.020 |
|
|
|
|
TOTAL (B) |
3489.918 |
994.448 |
1836.900 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
827.979 |
127.058 |
785.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.144 |
15.986 |
20.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
815.835 |
111.072 |
764.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
147.433 |
(6.335) |
119.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
668.402 |
117.407 |
644.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1633.363 |
1606.503 |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
66.840 |
12.956 |
|
|
|
|
Proposed Dividend |
132.639 |
66.320 |
|
|
|
|
Additional Tax on Proposed Dividend |
22.030 |
11.271 |
|
|
|
BALANCE CARRIED
TO THE B/S |
2080.256 |
1633.363 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on F.O.B. Basis |
2326.232 |
536.727 |
|
|
|
TOTAL EARNINGS |
2326.232 |
536.727 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Items |
2159.269 |
212.844 |
|
|
|
TOTAL IMPORTS |
2159.269 |
212.844 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
100.78 |
17.70 |
97.19 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
1018.000 |
1528.20 |
2246.30 |
|
Total Expenditure |
1005.600 |
1433.40 |
2107.600 |
|
PBIDT (Excl
OI) |
12.400 |
94.80 |
138.700 |
|
Other Income |
9.500 |
65.10 |
92.200 |
|
Operating
Profit |
21.900 |
159.90 |
230.900 |
|
Interest |
3.300 |
7.30 |
7.400 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
18.600 |
152.600 |
223.50 |
|
Depreciation |
1.900 |
2.200 |
5.400 |
|
Profit
Before Tax |
16.700 |
150.400 |
218.100 |
|
Tax |
4.500 |
40.500 |
42.500 |
|
Provisions
and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
12.200 |
109.900 |
175.600 |
|
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 |
12.20 |
109.900 |
175.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
15.48
|
10.47 |
24.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
23.39
|
11.50 |
38.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.12
|
6.54 |
27.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.02 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.26
|
0.09 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.42
|
3.64 |
3.50 |
LOCAL AGENCY FURTHER INFORMATION
2010 IN RETROSPECT:
The Directors are to report that the Company’s
sales turnover during the year has been Rs.3487.200 Millions as against
Rs.965.400 Millions during the previous financial year. The Profit before tax
during the year has zoomed to Rs.828.000 Millions as against Rs.127.100
Millions in the previous year. The Profit after Tax has also similarly zoomed
to Rs.668.400 Millions as against Rs.117.400 Millions in the previous year.
INTERNATIONAL BUSINESS:
The Company’s exports during the year has
increased to Rs.2326.200 Millions as compared to Rs.536.700 Millions during the
previous year.
INDUSTRY STRUCTURE AND DEVELOPMENTS:
The Company has focused on seizing the
business opportunities in the most buoyant and vibrant sectors of the economy
such as International Trade and Real Estate. The Company has emerged as a
strong market player in the aforesaid sectors & also the revenue in the
said sectors has increased substantially this year. Both the above sectors have
proved very profitable for the Company.
OPPORTUNITIES AND THREATS/RISKS & CONCERNS:
The opportunities for the International Trade
& Real Estate Industries are immense. Thus the future the Company appears
to be bright. However, the Industry may face the risk of facing a ban on the
import/export of any item by the Central/State Governments.
FINANCIAL PERFORMANCE:
The Company’s sales have increased to
Rs.3487.200 Millions during the period as against Rs.965.400 Millions during
the previous financial year. The profit before tax during the year has
similarly risen to Rs.828.0000 Millions as against Rs.127.100 Millions in the
previous year. The profit after tax has similarly increased to Rs.668.400
Millions as against Rs.117.400 Millions during the previous financial year.
Profitability of the Company has zoomed mainly due to International Trade and
Real Estate activities.
OUTLOOK:
In view of the aforesaid business ventures,
the outlook of the company seems to be very bright.
Fixed Assets:
- Building (Office)
- Building (Factory)
- Flats
- Motor Cars/ Scooters
- Computers
- Office Equipment
- Temporary Structure
- Furniture and Fixture
Contingent Liabilities:
|
Particulars |
31.03.2010 (Rs. In Millions) |
31.03.2009 (Rs. in Millions |
|
A) Claims not acknowledge as debt- Income
Tax |
103.117 |
100.014 |
|
B) Guarantee given backed by FDR against
Demerged Company |
0.000 |
42.141 |
|
C) Guarantee given by Banks on behalf of the
Company |
976.488 |
0.000 |
D) Guarantee given to Bank of India, Singapore
for one of subsidiaries – Kothari Products Singapore Private Limited, against
credit facility of USD ($) 50,00,000 or as on 31.03.2010 Rs. 224.875 Millions
(Previous Year Rs. Nil)
E) Guarantee given to UCO Bank, Kolkata for
SPPL Hotels Private Limited of Rs. 1510.000 Millions (Previous Year Rs. Nil)
F) Bank Guarantee given on behalf of Pan Parag
India Limited in favour of the Registrar National Consumer Disputes Redressal
Commission,
(Previous Year Rs. 4.158/- ) which is secured
by FDRs of Pan Parag India Limited
Key Milestone:
Year 1973:
Launch of “Pan Parag” on 18th of
August.
Year
1983:
Incorporation as Kothari Products Private Limited. on 17th of
September
Year 1983-1987:
“Pan Parag” was single
largest Advertiser on T.V. and the household Pan Masala had become a Mega brand
in the period from 1983 to 1987.
Launch of Pan Masala in revolutionary
Packing of Pouches in automated & modernized Plant in the year 1985.
Year 1987:
National Award to “Pan Parag” was conferred by the then
President of India.
Year 1988:
Launch of Budget Washing Powder.
National Citizen Award was conferred on
Shri M.M. Kothari by the then Prime Minister Shri. Rajiv Gandhi.
Year 1992:
Pride of India Gold Medal was conferred on Shri Deepak
Kothari by NRI Institute in Bangkok, Thailand.
Year 1994:
Impeccable Track Record of declaring
Dividends to its Stake holders. Dividend Percentage ranging from 55% - 150%
from 1994 till date
Year 1995:
Kothari Products Limited ( our Flagship
Company.) became a listed company.
Launch of “Yes” Mineral Water
Year 2003:
KPL received FMCG Awards,2003 for “Parag Supari”,” Parag
Sada” and “Pan Parag Premium “Supreme” by AMGF at New Delhi on 28th of
May
Year 2004:
KPL received Consumer World Awards 2004 for India’s most preferred brand “Mera Brand”.
Year
2005:
The Group stepped into Education Sector and established
Kothari International School at Noida
Year
2007:
The Group has invested in “Taurus
Agile Technology Corporation Pvt. Ltd.” a company involved in manufacturing of
Precision Equipments for Oil Exploration, Wind Energy and Aviation
Sector.
Year
2008:
Offshore
Presence:
The Group has started its International
Trading (Import & Export) through a Company incorporated at Singapore.
Restructuring of
Business- Demerger :
The Group registered a sustained growth for nearly 35 years and in this journey it grew to many folds, to ensure proper governance and efficient management and also looking to the synergies and segments, reorganization of its activities was imminent. Management thought it prudent to hive – off the activities of manufacturing of Pan Masala, Beverages and trading divisions into a separate legal entity in the name of “Pan Parag India Limited”. The restructuring was completed in November. Looking to the tremendous growth potential in the field of quality education the Group ventured through a company namely Synergy School Systems, for establishment /managing various proposed educational institutions of the Group and also to provide management consultancy in this field.
Year
2009:
Certificate of Excellence was awarded by Tobacco Board on
Formation Day Celebrations for First Best performance in Export of Chewing
Tobacco for year
2008 on 2nd of January
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 31.12.2010 (Rupees In Million)
|
Particulars |
31.12.2010 Quarter Ended (Un Audited) |
31.12.2010 9th Month Ended (Un Audited) |
|
Income |
|
|
|
a) Net Sales / Income from Operations |
2219.400 |
4673.700 |
|
b) Other Operating Income |
26.900 |
118.800 |
|
Expenditure |
|
|
|
(a) Purchase of traded goods |
2083.800 |
4445.200 |
|
(b) Employees Cost |
3.800 |
9.700 |
|
(c) Depreciation |
5.400 |
9.500 |
|
(d) Other Expenditure |
20.000 |
91.700 |
|
(e) Total Expenditure |
2113.000 |
4556.100 |
|
Profit / (Loss) From Operations before other Income Interest & Exceptional Items |
133.300 |
236.400 |
|
Other Income |
92.200 |
166.800 |
|
Profit/(Loss) before Interest and Exceptional items |
225.500 |
403.200 |
|
Interest |
7.400 |
18.000 |
|
Profit / (Loss) after interest before Exceptional items |
218.100 |
385.200 |
|
Exceptional Items |
0.000 |
0.000 |
|
Profit / (Loss) From
Ordinary activities before Tax |
218.100 |
385.200 |
|
Tax Expenses – For Current Year |
42.500 |
87.500 |
|
Net Profit/(Loss) From Ordinary activities after Tax |
175.600 |
297.700 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Net Profit/(Loss) for the period |
175.600 |
297.700 |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
66.300 |
66.300 |
|
Reserves (Excluding Revaluation Reserves) |
-- |
-- |
|
Earning Per share (EPS) (Rs.) |
|
|
|
(A) Basic and Diluted EPS Before Extra Ordinary Items |
26.44* |
44.88* |
|
(B) Basic and Diluted EPS Before Extra Ordinary Items |
26.44* |
44.88* |
|
Public Share Holding |
|
|
|
- Number of Shares |
1657992 |
1657992 |
|
- Percentage of shareholding |
25.00% |
25.00% |
|
Promoters and Promoter group share holding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of Shares |
900000 |
900000 |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
18.09% |
18.09% |
|
- Percentage of shares(as a % of the total share capital of the company) |
13.57% |
13.57% |
|
b) Non-encumbered |
|
|
|
- Number of Shares |
4073978 |
4073978 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
81.91% |
81.91% |
|
- Percentage of Share (as a % of the total share capital of the company) |
61.43% |
61.43% |
- Not Annualized
Reporting of Segment – Wise Revenue, Results and Capital Employed
|
Particulars |
31.12.2010 Quarter Ended (Un Audited) |
31.12.2010 9th Month Ended (Un Audited) |
|
1) Segment Revenue (Net Sales/ Income) |
|
|
|
A) Segment – Trading Items |
2219.400 |
4673.700 |
|
B) Segment – Real Estate Etc |
0.000 |
0.000 |
|
Total |
2219.400 |
4673.700 |
|
Less: Inter Segment Revenue |
0.000 |
0.000 |
|
Net Sales/ Income From Operations |
2219.400 |
4673.700 |
|
2) Segment Results |
|
|
|
Profit (+)/ Loss (-) Before Tax for each
Segment |
|
|
|
A) Segment – Trading Items |
119.600 |
162.600 |
|
B) Segment – Real Estate Etc. |
105.900 |
240.600 |
|
Total |
225.500 |
403.200 |
|
Interest Expenses |
7.400 |
18.000 |
|
Total |
218.100 |
385.200 |
|
3) Segment Capital Employed (Assets –
Liabilities) |
|
|
|
A) Segment – Trading Items |
1416.600 |
1416.600 |
|
B) Segment – Real Estate Etc. |
4403.100 |
4403.100 |
|
Total Capital Employed |
5819.700 |
5819.700 |
NOTES:
1. No investors’ complaint was pending at the
beginning of the quarter. During the quarter the company has not received any complaint
and accordingly no complaint was pending at the end of the quarter.
2. The aforesaid results for the quarter ended
31.12.2010 have been subjected to ‘Limited Review’ by the Statutory Auditors of
the Company.
3. The amount of dividend for the financial
year 2002-03 remaining unpaid for a period of seven years has been transferred
to the Investor Education & Protection Fund a/c on 17th January. 2011.
4. The aforesaid results have been reviewed by
the Audit Committee, approved and taken on records by the Board of Directors of
the Company in their meetings held today i.e. 12th February, 2011.
5. The figures of the previous quarter have
been regrouped / recast wherever considered necessary to make them comparable
with the figures of the current quarter.
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.44.38 |
|
|
1 |
Rs.73.87 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
69 |
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.