1. Summary Information
|
|
|
Country |
|
|
Company Name |
JAY USHIN LIMITED |
Principal Name 1 |
Mr. J. P. Minda |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Ashwani Minda |
|
|
|
Registration # |
55-025118 |
|
Street Address |
GI -
48, |
||
|
Established Date |
14.08.1986 |
SIC Code |
-- |
|
Telephone# |
91-124-6340422,
6340423 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-124-6340333,
6340284 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Locks For Motor Vehicles |
|
|
# of employees |
490 [Approximately] |
Product Name 2 |
Door Latches |
|
Paid up capital |
Rs.38,645,000/- |
Product Name 3 |
Combination Switch |
|
Shareholders |
Promoters and Promoter Group-68.59% Public Shareholding – 31.41% |
Banking |
Kotak Mahindra Bank Limited |
|
Public Limited Corp. |
Yes |
Business Period |
25 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba [50] |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Joint
Venture |
|
U-shin Limited |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
574,369,000 |
Current Liabilities |
867,034,000 |
|
Inventories |
452,823,000 |
Long-term Liabilities |
649,157,000 |
|
Fixed Assets |
787,485,000 |
Other Liabilities |
62,943,000 |
|
Deferred Assets |
0 |
Total Liabilities |
1,579,134,000 |
|
Invest& other Assets |
73,450,000 |
Retained Earnings |
270,348,000 |
|
|
|
Net Worth |
308,993,000 |
|
Total Assets |
1,888,127,000 |
Total Liab. & Equity |
1,888,127,000 |
|
Total Assets (Previous Year) |
1,565,100,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
4,526,272,000 |
Net Profit |
101,915,000 |
|
Sales(Previous yr) |
3,572,955,000 |
Net Profit(Prev.yr) |
60,654,000 |
MIRA
INFORM REPORT
|
Report Date : |
14.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
JAY USHIN LIMITED [w.e.f. 2003] |
|
|
|
|
Formerly Known
As : |
JAY YUHSHIN
LIMITED |
|
|
|
|
Registered
Office : |
GI -
48, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.08.1986 |
|
|
|
|
Com. Reg. No.: |
55-025118 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.645 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L52110DL1986PLC025118 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELJ00289C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
The company is
engaged in Manufacturing of Locks For Motor Vehicles, Door Latches and
Combination Switch |
|
|
|
|
No. of Employees
: |
490 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba [50] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
USD 1230000 |
|
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
GI -
48, |
|
Tel. No.: |
91-124-6340422,
6340423 |
|
Fax No. : |
91-124-6340333,
6340284 |
|
Email : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
GP-14, HSIDC Industrial Estate, Sector -18, Gurgaon -122001, |
|
Tel. No.: |
91-124-4623400 |
|
|
|
|
Factory 2 : |
Plot No. 154, Trunk Road, Porur, Chennai - 600116, |
|
|
|
|
Factory 3 : |
Plot No.4, Sector-3, IMT-Manesar, District Gurgaon -122050, |
|
|
|
|
Factory 4 : |
D-1(2), |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. J. P. Minda |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Anil Minda |
|
Designation : |
Director Technical |
|
|
|
|
Name : |
Mr. Ashwani Minda |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Satoru Gokuda |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Virendra Kumar Chanana |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Balraj Bhanot |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Shiv Raj Singh |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Bharat Bhushan Chadha |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Ashok Panjwani |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Bhawani Shankar Rathi |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Mohan Ram
Krishnan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jun Umehara |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. M.M. Gupta |
|
Designation : |
Vice President (Finance) and Company Secretary |
|
|
|
|
Name : |
Mr. S.K. Agarwal |
|
Designation : |
Genera Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoters and Promoter Group |
|
|
|
1. Indian |
|
|
|
Individuals / Hindu Undivided Family |
1295955 |
33.53 |
|
Bodies Corporate |
350033 |
9.06 |
|
Sub Total (A)
(1) |
1645988 |
42.59 |
|
2. Foreign |
|
|
|
Bodies Corporate |
1004645 |
26.00 |
|
Sub Total (A)
(2) |
1004645 |
26.00 |
|
(A) = (A) (1) +
(A) (2) |
2650633 |
68.59 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
1. Institutions |
|
|
|
Mutual Funds / UTI |
800 |
0.02 |
|
Financial Institutions / Banks |
400 |
0.01 |
|
Sub Total (B)
(1) |
120 |
0.03 |
|
|
|
|
|
2. Non
Institutions |
|
|
|
Bodies Corporate |
644001 |
16.66 |
|
Individual shareholders holding nominal share capital up to Rs. 0.100
million |
448426 |
11.60 |
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 million |
64823 |
1.68 |
|
|
|
|
|
Any Other
Specify |
55417 |
1.43 |
|
Clearing Members |
1643 |
0.04 |
|
Non Resident Indians |
53774 |
1.39 |
|
Sub Total (B)
(2) |
1212667 |
31.38 |
|
(B) = (B) (1) +
(B) (2) |
1213867 |
31.41 |
|
Total (A) + (B) |
3864500 |
100.00 |
|
Shares
held by custodians and against which depository receipts have been
issued (C) |
- |
- |
|
|
|
|
|
Total (A) + (B) +(C) |
3864500 |
- |
BUSINESS DETAILS
|
Line of Business : |
The company is
engaged in Manufacturing of Locks For Motor Vehicles, Door Latches and
Combination Switch |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
Automobile Lock
Key Sets |
Nos |
6000 |
|
Door Latches |
Nos |
5200 |
|
Heater Control
Panel |
Nos |
1300 |
|
Combination
Switches |
Nos |
900 |
|
Other Switches |
Nos |
15000 |
|
Striker |
Nos |
5000 |
|
Warning triangle |
Nos |
300 |
* Installed capacity being a technical matter, has not been verified
by the Auditors and is as certified by the Management.
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
Actual
Production |
|
1.
Lock Sets |
|
|
|
- 4 Wheelers |
Nos |
1682324 |
|
- 2 Wheelers |
Nos |
2488547 |
|
Individual Locks |
Nos |
715254 |
|
Lock Set
Components |
Nos |
2057035 |
|
2.
Door Latches |
|
|
|
Door Latches |
Nos |
4627037 |
|
Latch Components |
Nos |
4801041 |
|
3.
Switches |
|
|
|
Combination
Switch |
Nos |
174966 |
|
Switches
for : |
|
|
|
- 4 Wheelers |
Nos |
2873212 |
|
- 2 Wheelers |
Nos |
9038170 |
|
4.
Healer Control Panel |
|
|
|
Healer Control Panel |
Nos |
1070709 |
|
Lever Heater
Control |
Nos |
5532 |
|
Panel Components |
Nos |
1070833 |
GENERAL INFORMATION
|
No. of Employees : |
490 [Approximately] |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
v
Kotak Mahindra Bank Limited v
Standard Chartered Bank v
Yes Bank Limited v
ICICI Bank Limited v
HDFC Bank Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
52-B, III Floor, Phase - III,
Okhla Industrial Estate, |
|
|
|
|
Enterprises over
which key management
Personnel and their relatives
exercise significant influence |
|
|
|
|
|
Joint Venture : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,864,500 |
Equity Shares |
Rs. 10/- each |
Rs.38.645 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
38.645 |
38.645 |
38.645 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
270.348 |
181.907 |
132.518 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
308.993 |
220.552 |
171.163 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
600.559 |
414.068 |
400.733 |
|
|
2] Unsecured Loans |
48.598 |
55.037 |
55.483 |
|
|
TOTAL BORROWING |
649.157 |
469.105 |
456.216 |
|
|
DEFERRED TAX LIABILITIES |
38.386 |
43.214 |
40.562 |
|
|
|
|
|
|
|
|
TOTAL |
996.536 |
732.870 |
667.941 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
787.485 |
769.380 |
651.395 |
|
|
Capital work-in-progress |
72.850 |
41.643 |
48.136 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.600 |
0.600 |
0.600 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
452.823
|
293.478 |
266.007 |
|
|
Sundry Debtors |
286.963
|
255.992 |
255.136 |
|
|
Cash & Bank Balances |
97.337
|
34.778 |
17.633 |
|
|
Other Current Assets |
0.139
|
0.146 |
0.000 |
|
|
Loans & Advances |
189.930
|
169.083 |
106.003 |
|
Total
Current Assets |
1027.192
|
753.477 |
644.779 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
664.416
|
736.433 |
615.006 |
|
|
Other Current Liabilities |
202.618
|
74.145 |
47.455 |
|
|
Provisions |
24.557
|
21.652 |
14.508 |
|
Total
Current Liabilities |
891.591
|
832.230 |
676.969 |
|
|
Net Current Assets |
135.601
|
[78.753] |
[32.190] |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
996.536 |
732.870 |
667.941 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4526.272 |
3572.955 |
2508.829 |
|
|
|
Other Income |
86.173 |
63.716 |
41.730 |
|
|
|
TOTAL (A) |
4612.445 |
3636.671 |
2550.559 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material and Components Consumed |
3652.648 |
2851.842 |
1907.903 |
|
|
|
Manufacturing Expenses |
352.561 |
297.642 |
244.079 |
|
|
|
Personnel Expenses |
157.432 |
137.773 |
119.415 |
|
|
|
Administrative Expenses |
136.860 |
116.836 |
116.825 |
|
|
|
TOTAL (B) |
4299.501 |
3404.093 |
2388.222 |
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
312.944 |
232.578 |
162.337 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
84.758 |
67.419 |
64.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
228.186 |
165.159 |
98.216 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
89.053 |
80.930 |
60.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
BEFORE TAX (E-F) (G) |
139.133 |
84.229 |
37.235 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.334 |
23.575 |
16.921 |
|
|
|
|
|
|
|
|
|
|
Prior period Items |
2.884 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
AFTER TAX (G-H) (I) |
101.915 |
60.654 |
20.314 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
138.847 |
96.034 |
83.522 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.250 |
6.575 |
1.020 |
|
|
|
Proposed Dividend |
11.593 |
9.661 |
5.797 |
|
|
|
Tax on Dividend |
1.880 |
1.605 |
0.985 |
|
|
BALANCE CARRIED
TO THE B/S |
217.039 |
138.847 |
96.034 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
10.631 |
4.299 |
8.582 |
|
|
|
|
19.455 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
30.086 |
4.299 |
8.582 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
252.936 |
195.523 |
98.981 |
|
|
|
Components |
431.993 |
460.459 |
316.285 |
|
|
|
Capital Goods |
16.936 |
32.768 |
25.015 |
|
|
TOTAL IMPORTS |
701.865 |
688.750 |
440.281 |
|
|
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
26.37 |
15.70 |
5.26 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2011 |
30.09.2011 |
|
Type |
|
|
1st
Quarter |
2nd
Quarter |
|
Sales Turnover |
|
|
1109.500 |
987.350 |
|
Total Expenditure |
|
|
1056.830 |
1010.690 |
|
PBIDT (Excl
OI) |
|
|
52.670 |
[23.340] |
|
Other Income |
|
|
21.740 |
19.340 |
|
Operating
Profit |
|
|
74.400 |
[4.000] |
|
Interest |
|
|
21.580 |
18.510 |
|
Exceptional
Items |
|
|
0.000 |
0.000 |
|
PBDT |
|
|
52.820 |
22.510 |
|
Depreciation |
|
|
23.850 |
22.370 |
|
Profit
Before Tax |
|
|
28.970 |
[44.880] |
|
Tax |
|
|
3.870 |
[16.0120] |
|
Reported PAT |
|
|
25.110 |
[28.760] |
|
Extraordinary Items |
|
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
0.000 |
|
Other Adjustments |
|
|
0.000 |
0.000 |
|
Net Profit |
|
|
25.110 |
[28.760] |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.21
|
1.67 |
0.80 |
|
|
|
|
|
|
|
(PBT/Sales) |
(%) |
3.07
|
2.36 |
1.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.67
|
5.53 |
2.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.38 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.99
|
5.90 |
6.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
0.90 |
0.95 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
The gross revenue (net
of excise) of the Company for the year was Rs. 4526.300 Millions as against Rs.
3573.000 Millions in the previous year showing growth of 27% year on year
basis. Earnings before depreciation, interest, tax and amortization (EBDITA)
stood at Rs. 312.900 Millions against Rs. 232.600 Millions in the previous
year. Profit before tax (PBT) stood at Rs. 139.100 Millions against Rs. 84.200
Millions in the previous year.
During the year,
the Company has invested Rs.132.000 Millions towards modernisation and expansion
of its Manufacturing facilities as against Rs. 177.500 Millions in the previous
year. In view of the growth opportunities provided by both the domestic and
international markets, the Company has made capital investment for upgradation
of facilities and increase in capacities.
In the current
year the net sales in first quarter was Rs. 1109.500 Millions as against Rs.
1011.300 Millions in the corresponding quarter of the previous year which
represent a growth of 10%.
MANAGEMENT
DISCUSSION and ANALYSIS
INDUSTRY OUTLOOK
The year ended
March 31, 2011 witnessed a stable growth in the Auto Industry with an average
growth of 33% in the four wheeler and 27% in two wheeler segment. Factors such
as superior engineering skills, modest domestic market growth, the
sophistication of its IT industry and increasing free trade agreements in
addition to low cost, are expected to boost
FUTUREOUTLOOK
The customer base
is expected to expand substantially in the coming years as many new customers
are entering the market and the existing customers are introducing new models.
The prospects of the segment appear encouraging across the foreseeable future.
However, rising inflation especially fuel price, interest rate can have
negative impact on sales volume.
FINANCIALPERFORMANCE
Total turnover of
the Company during the year was Rs. 4526.200 Millions against Rs. 3573.000
Millions in the previous year. The turnover increased by 27% compared to
previous financial year. Profit before tax was Rs.139.100 Millions against Rs.
84.200 Millions in the previous year.
Contingent Liabilities
|
Particulars |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
a) Claims made against Company not acknowledged as debts. |
0.000 |
0.588 |
|
b) Guarantees issued on behalf of the Company outstanding
at the end of the year. |
0.020 |
1.233 |
|
c) Central Excise/Service tax demands pending in
appeals/show cause notice (The Company has deposited Rs.1,000,000(Previous Year
Rs. 1,000,000) under protest against such demands/ show cause notice). |
11.560 |
9.151 |
Unaudited Financial Results For The Quarter/Half Year
Ended September 30, 2011
Rs. in millions
|
Particulars |
Quarter ended 30.09.2011 |
Half year ended 30.09.2011 |
|
|
Unaudited |
Unaudited |
|
a) Net Sales /Income from
Operations |
987.349 |
2096.849 |
|
b) Other operating Income |
- |
- |
|
Total Operating Income (1) |
987.349 |
2096.849 |
|
Expenditure |
|
|
|
a) (Increase) /decrease in
stock in trade & WIP |
5.072 |
11.492 |
|
b) Consumption of raw
Material |
811.089 |
1731.760 |
|
c) Purchase of traded
goods |
- |
- |
|
d) Employees cost |
87.244 |
164.326 |
|
e) Depreciation |
22.372 |
46.221 |
|
f) Foreign exchange fluctuation
(gain) /loss |
51.020 |
60.758 |
|
g) Other expenditure |
56.263 |
99.183 |
|
h) Total (2) |
1033.060 |
2113.740 |
|
Profit from Operations
before other income, Interest and exceptional item (1-2) |
(45.711) |
(16.891) |
|
Other Income |
19.339 |
41.075 |
|
Profit before interest and
exceptional item (3+4) |
(26.372) |
24.184 |
|
Interest |
18.508 |
40.091 |
|
Profit after interest but
before Exceptional item (5-6) |
(44.880) |
(15.907) |
|
Exceptional Items |
- |
- |
|
Proft(+)/Loss(-) from ordinary
activities before tax (7+8) |
(44.880) |
(15.907) |
|
Tax expenses |
(14.143) |
(8.295) |
|
Provision for earlier
years reversed |
(1.982) |
(1.982) |
|
Net Profit (+) / (Loss)
(-) from ordinary activities after tax (9-10+11) |
(28.755) |
(5.630) |
|
Extraordinary items (net
of tax expense Rs.) |
- |
- |
|
Net Profit (+) / (Loss)
(-) for the period (11-12) |
(28.755) |
(5.630) |
|
Paid-up Equity Share
Capital (3864500 Equity shares of Rs.10/- each fully paid-up) |
38.645 |
38.645 |
|
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) |
(7.44) |
(1.46) |
|
b) Basic and diluted EPS
after Extraordinary |
(7.44) |
(1.46) |
|
items for the period, for
the year to date and |
|
|
|
for the previous year (not
to be annualised) |
|
|
|
Public shareholding |
|
|
|
- Number of Shares |
1213867 |
1213867 |
|
- Percentage of
shareholding |
31.41 |
31.41 |
|
Promoters and promoter
group Shareholding a) Pledged/Encumbered |
|
|
|
- Number of shares |
Nil |
Nil |
|
- Percentage of shares (as
a % of the total shareholding |
Nil |
Nil |
|
of promoter and promoter group) |
|
|
|
- Percentage of shares (as
a % of the total share capital |
Nil |
Nil |
|
b) Non-encumbered |
|
|
|
- Number of Shares |
2650633 |
2650633 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
|
- Percentage of Share (as a % of the total share capital of the company) |
68.59 |
68.59 |
Statement of Assets and Liabilities
Rs. in millions
|
Particulars |
Half Year Ended 30.09.2011 |
|
|
Unaudited |
|
Shareholders' Fund: (A) Capital |
38.645 |
|
(B) Reserves And Surplus |
264.718 |
|
Loan Funds |
798.858 |
|
Deferred Tax Liability (Net) |
30.090 |
|
Total |
1132.311 |
|
Fixed Assets Inclusive Capital
Advance/Capital WIP |
9,57.187 |
|
Investments |
0.600 |
|
Current Assets, Loans And Advances |
|
|
(A) Inventories |
558.080 |
|
(B) Sundry Debtors |
3,62.623 |
|
(C) Cash And Bank Balances |
22.688 |
|
(D) Other Current Assets |
0.158 |
|
(E) Loans And Advances |
1,22.740 |
|
Less: Current Liabilities And Provisions |
|
|
(A) Liabilities |
8,88.987 |
|
(B) Provisions |
2.778 |
|
Miscellaneous Expenditure (Not Written Off
Or Adjusted) |
- |
|
Profit And Loss Account |
- |
|
Total |
1132.311 |
- The above results have been reviewed by Audit Committee and
approved by Board of Directors in its meeting held on November 14, 2011
and these have been subjected to "Limited review" by the
Statutory Auditors of the Company.
- Information on Investor Complaints for the quarter : Opening
Balance Nil, Received Nil, Redressed Nil, Closing Balance Nil.
- The CEO and CFO certificate in respect of the above results in
terms of the requirements of Clause 41 of the Listing agreement, has been
placed before the Board of Directors.
- The disclosures as required by Accounting Standard 17
"Segment Reporting" as notified in the Companies (Accounting
Standards) Rules, 2006 has not been provided as the Company deals in one
business segment, namely manufacturing of automobile components. Currently
there are no reportable Geographic segments.
- Basic and diluted earning per share has been calculated in
accordance with AS-20 "Earning per share" as notified in the
Companies (Accounting Standards) Rules, 2006.
- Previous periods figures have been regrouped /rearranged, wherever
required.
FIXED
ASSETS
- Freehold land
- Building
- Plant and Machinery
- Dies
- Furniture and
Fixture
- Office
Equipment
- Vehicles
- Technical Fee
- Computer
- Temporary
Structure
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.53.57 |
|
|
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.69.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.