1. Summary Information
|
|
|
Country |
|
|
Company Name |
KAIRA CAN COMPANY
LIMITED |
Principal Name 1 |
Mr. Premal N.
Kapadia |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Ashok B
Kulkarni |
|
|
|
Registration # |
11-12289 |
|
Street Address |
Tieciaon House, |
||
|
Established Date |
01.03.1962 |
SIC Code |
-- |
|
Telephone# |
91-22-66608711 |
Business Style 1 |
Exporter |
|
Fax # |
91-22-66635401 |
Business Style 2 |
Manufacturer |
|
Homepage |
-- |
Product Name 1 |
Milk Processing
and Packing |
|
# of employees |
-- |
Product Name 2 |
Tin Containers |
|
Paid up capital |
Rs.9221330/- |
Product Name 3 |
Waffles and Wafers/Ice-Cream
Cones |
|
Shareholders |
Promoter
and Promoter Group – 60.23% Public
shareholding – 39.77% |
Banking |
Bank of |
|
Public Limited Corp. |
YES |
Business Period |
48 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba (52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
: |
-- |
Gujarat Co-op
Milk Marketing Federation Limited (GCMMF) |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
206,900,000 |
Current Liabilities |
169,300,000 |
|
Inventories |
183,100,000 |
Long-term Liabilities |
106,600,000 |
|
Fixed Assets |
60,100,000 |
Other Liabilities |
2,300,000 |
|
Deferred Assets |
0 |
Total Liabilities |
278,200,000 |
|
Invest& other Assets |
1,700,000 |
Retained Earnings |
164,400,000 |
|
|
|
Net Worth |
173,600,000 |
|
Total Assets |
451,800,000 |
Total Liab. & Equity |
451,800,000 |
|
Total Assets (Previous Year) |
442,366,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales, including other Income |
1,030,100,000 |
Net Profit |
40,400,000 |
|
Sales(Previous yr) |
1,121,618,000 |
Net Profit(Prev.yr) |
1,109,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
KAIRA CAN COMPANY
LIMITED |
|
|
|
|
Registered Office : |
Tieciaon House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
01.03.1962 |
|
|
|
|
Com. Reg. No.: |
11-12289 |
|
|
|
|
CIN No.: [Company
Identification No.] |
L28129MH1962PLC012289 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK11380F /
MUMK12715D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACK4319B / AAACK4319B |
|
|
|
|
Legal Form : |
A Public Limited
Liability Company. The company’s shares are listed on the Stock Exchanges. |
|
|
|
|
Line of Business : |
Exporter and
Manufacturer of open top Sanitary Cans and general purpose Cans. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 690000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered normal for business dealing 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) |
|
|
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 : |
Tiecicon House, |
|
Tel. No.: |
91-22-56608711 (4
lines) / 66608712 / 66608713 |
|
Fax No.: |
91-22-56635401 /
66608714 / 66635401 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Kairacan – GCMMF
Complex, Anand – 388001, |
|
Tel. No.: |
91-2692-63237 /
63238 / 63239 |
|
Fax No.: |
91-2692-62559 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Post Box No.23,
Amul dairy Compound, Anand – 388 001, |
|
Tel. No.: |
91-2692-266634/35/36 |
|
Fax No.: |
91-2692-241117 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
District Kheda,
Kanjari – 387325, |
|
|
|
|
Factory 3 : |
Dudhsagar Dairy
Compound, Mehsana – 384002, |
|
|
|
|
Factory 4 : |
Unit Plot No.
704/1-2, Phase IV, GIDC, Vithal Udyog Nagar, Anand, |
|
E-Mail : |
DIRECTORS
AS ON 07.07.2010
|
Name : |
Mr. Premal N.
Kapadia |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Utsav R.
Kapadia |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Ashok B
Kulkarni |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Nanak G.
Sheth |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Devang R.
Mehta |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Hiten Vanjara |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Bharatkumar
M. Vyas |
|
Designation : |
Nominee of GCMMF |
|
|
|
|
Name : |
Mr. Vivek J.
Matthai |
|
Designation : |
Nominee of GCMMF |
|
|
|
|
Name : |
Mr. Jayen Mehta |
|
Designation : |
Nominee |
|
|
|
|
Name : |
K. Jagannathan |
|
Designation : |
Executive Directors |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
400364 |
43.42 |
|
|
151799 |
16.46 |
|
|
552163 |
59.88 |
|
|
|
|
|
|
3260 |
0.35 |
|
|
3260 |
0.35 |
|
Total shareholding of Promoter and Promoter Group (A) |
555423 |
60.23 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
245456 |
26.62 |
|
|
|
|
|
|
43881 |
4.76 |
|
|
50666 |
5.49 |
|
|
26707 |
2.90 |
|
|
26707 |
2.90 |
|
|
366710 |
39.77 |
|
Total Public shareholding (B) |
366710 |
39.77 |
|
Total (A)+(B) |
922133 |
100.00 |
|
Shares held by Custodian and against which Depository
Receipts have been issued |
-- |
-- |
|
TOTAL |
922133 |
100.00 |
|
|
|
|
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Exporter and Manufacturer
of open top Sanitary Cans and general purpose Cans. |
||||||||
|
|
|
||||||||
|
Products : |
Products and
Services
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
v
Component Bottoms v
Build Up Cans v
Flattened Cans |
||||||||
|
|
|
||||||||
|
Imports of : |
Import of
Tinplate (main raw material), Stores and Spares |
PRODUCTION STATUS (AS ON 31.03.2009)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Open Top Sanitary Cans and General Line Containers |
MT |
18000 |
18000 |
585.53 |
|
Ice Cream Cones (Waffles and Wafers) |
MT |
-- |
700 |
316.62 |
GENERAL INFORMATION
|
Customers : |
End User |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Bank of |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
1. Cash credit
accounts from a bank are secured by hypothecation and/or pledge of
stock-in-trade, stores, spares parts, other materials and book debts. The cash credit
accounts and term loans are further secured by the first charge by way of
equitable mortgage on the company’s immovable properties, both present and
future, situated at village Kanjari in the state of 2. Auto Loans are secured by hypothecation of vehicles financed
|
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and
Mistry Chartered
Accounts |
|
|
|
|
Associates/Subsidiaries : |
Gujarat Co-op
Milk Marketing Federation Limited (GCMMF) |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
|
20000 |
11% Redeemable
Cumulative Preference Shares |
Rs.100/- each |
Rs.2.000 Millions |
|
Total |
|
|
Rs.22.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
922133 |
Equity Shares |
Rs.10/- each |
Rs.9.221 Millions |
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 |
9.200 |
9.221 |
9.221 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
164.400 |
126.614 |
126.584 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
173.600 |
135.835 |
135.805 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
79.200 |
74.948 |
113.215 |
|
|
2] Unsecured Loans |
27.400 |
71.350 |
66.615 |
|
|
TOTAL BORROWING |
106.600 |
146.298 |
179.830 |
|
|
DEFERRED TAX LIABILITIES |
2.300 |
7.418 |
8.483 |
|
|
|
|
|
|
|
|
TOTAL |
282.500 |
289.551 |
324.118 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.100 |
86.505 |
92.435 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.700 |
0.713 |
0.343 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
183.100
|
197.485
|
343.728
|
|
|
Sundry Debtors |
76.900
|
64.572
|
74.168
|
|
|
Cash & Bank Balances |
12.600
|
14.323
|
8.684
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
117.400
|
78.768
|
55.906
|
|
Total
Current Assets |
390.000
|
355.148
|
482.486
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
162.500
|
147.653
|
245.051
|
|
|
Provisions |
6.800
|
5.162
|
6.095
|
|
Total
Current Liabilities |
169.300
|
152.815
|
251.146
|
|
|
Net Current Assets |
220.700
|
202.333
|
231.340
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
282.500 |
289.551 |
324.118 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
Sales Turnover |
|
1064.911 |
1632.309 |
|
|
Milk Processing Charges |
1030.100 |
50.777 |
16.454 |
|
|
Other Income |
|
5.930 |
9.419 |
|
|
Total Income |
1030.100 |
1121.618 |
1658.182 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
49.200 |
2.345 |
13.170 |
|
|
Provision for Taxation |
8.800 |
1.236 |
4.712 |
|
|
Profit/(Loss) After Tax |
40.400 |
1.109 |
8.458 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
NA |
181.386 |
142.237 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
NA |
338.271 |
223.420 |
|
|
Stores & Spares |
NA |
21.283 |
18.574 |
|
Total Imports |
NA |
359.554 |
241.994 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Manufacturing and Other Expenses |
901.800 |
966.737 |
1622.796 |
|
|
Interest |
10.400 |
21.001 |
29.045 |
|
|
Depreciation & Amortization |
12.600 |
9.524 |
10.753 |
|
|
Increase/(Decrease) in Finished Goods |
56.100 |
122.011 |
(17.582) |
|
Total Expenditure |
980.900 |
1119.273 |
1645.012 |
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
|
1.20 |
9.17 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2010 (1st
Quarter) |
30.09.2010 (2nd
Quarter) |
|
Net Sales |
|
369.090 |
261.140 |
|
Total Expenditure |
|
357.180 |
250.710 |
|
PBIDT (Excl OI) |
|
11.910 |
10.430 |
|
Other Income |
|
0.220 |
0.060 |
|
Operating Profit |
|
12.130 |
10.490 |
|
Interest |
|
2.980 |
1.870 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
9.150 |
8.620 |
|
Depreciation |
|
1.800 |
1.750 |
|
Profit Before Tax |
|
7.350 |
6.870 |
|
Tax |
|
3.110 |
2.770 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
4.240 |
4.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.92
|
0.10
|
0.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
0.22
|
0.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.93
|
0.53
|
2.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
28.34
|
0.02
|
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.59
|
2.20
|
1.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30
|
2.32
|
1.92 |
LOCAL AGENCY FURTHER INFORMATION
Company History:
Kaira Can Company is a manufacturer of Open Top Sanitary Cans, General purpose Cans and Aerosol Cans. The Company started its operations in the year 1962. The Company has its production at its 3 plants i e Anand, Kanjari and Mehsana for manufacturing of various types of OTS and General Purpose Cans for Packing Baby Food, Cheese, Butter, Fruit Juices, Processed Goods, Fish etc and the Aerosol Cans for packing Deodrants, Insectidies, Room Freshner etc. In 1992 the company has diversified into the business of processing, packing and marketing of Amul Milk in Mumbai and suburbs. In 2000-01 the company ventured on to a new business of manufacturing rolled sugar cones for filling ice-cream at its Vithal Udyognagar unit Kheda District Gujarat in January, 2001 and commercial production commenced on the same month. The Company produced high quality Components and Cans for exports.
REVIEW OF OPERATIONS The Company has achieved a total sales turnover of
Rs.1060.200 Millions for the year ended
31st March, 2010, as compared to
Rs. 1179.200 Millions for the previous
year, a drop of 10%. The decline is attributed mainly
to two factors. The permanent
workmen at the Anand and Kanjari
units had resorted to total
stoppage of work/illegal strike during
the month of April 2009, with the result
the sales of OTS cans to the customers were badly affected
during the peak period of mango
season. Secondly, the exports of metal
components to
As a result of the above, the Company could achieve a turnover of Rs. 932.600 Millions of metal cans and its components during the year as compared to Rs.1078.500 Millions for the previous year - a reduction of 14%. The Company could only execute export orders worth Rs. 120.700 Millions of metal components as against Rs. 184.800 Millions for the previous year - a substantial drop of 35%.
However, the net operating profit for the year has been substantially increased to Rs.19.700 Millions. The growth is attributed mainly due to overall cost reduction measures taken by the Company resulting into better management of cash flow.
The Milk and Milk products division has achieved job-work earnings to the tune of Rs. 51.100 Millions during the year ended 31st March, 2010.
Sugar Cone Division has achieved a sales turnover of Rs. 42.500 Millions as compared to Rs. 43.900 Millions for the previous year.
Good news is that slowdown in the global economy prevailing for the past two years has been arrested and there are definite signs of improvement. Number of proposals being implemented by the Government are stimulating industrial growth and improving the climate of investment. The reform process initiated by the Government is showing positive results in the growth of the country's economy. The data released recently points to a continuous growth in industrial output of the county.
With the consistent and vigorous efforts being made by the Company for cost reduction measures coupled with efficient monitoring of working capital, Company expects improved performance for the current year.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 30.09.2010
(Rs.
In Millions)
|
PARTICULARS |
|
STANALONE |
||
|
|
|
|
QUARTER
ENDED ON 30.09.2010 UNAUDUITED |
SIX
MONTHS ENDED ON 30.09.2010 UNAUDITED |
|
|
|
|
|
|
|
Net sales/Income from Operations* |
|
|
259.143 |
625.048 |
|
Other operating income |
|
|
2.000 |
5.189 |
|
Total Income |
|
|
261.143 |
630.237 |
|
|
|
|
|
|
|
Expenditure |
|
|
|
|
|
a) (Increase)/decrease in stock in trade |
|
|
(6.023) |
44.649 |
|
b) Consumption of raw |
|
|
159.991 |
342.531 |
|
c) Consumption of Stores and
Spares |
|
|
37.068 |
83.155 |
|
d) Staff Cost |
|
|
17.729 |
34.926 |
|
e) Depreciation |
|
|
1.749 |
3.550 |
|
f) Other expenditure |
|
|
41.952 |
102.629 |
|
g) Total |
|
|
252.466 |
611.439 |
|
|
|
|
|
|
|
Profit/ (Loss) from operations before other income, interest and other exceptional items |
|
|
8.677 |
18.798 |
|
Other income |
|
|
0.063 |
0.278 |
|
Profit / (Loss) before interest and exceptional items |
|
|
8.740 |
19.076 |
|
Interest and Financial Charges |
|
|
1.869 |
4.853 |
|
|
|
|
|
|
|
Profit / (Loss) after interest but Before Exceptional items |
|
|
6.871 |
14.223 |
|
Exceptional items – Net |
|
|
-- |
-- |
|
Profit / (Loss) before tax |
|
|
6.871 |
14.223 |
|
Tax Expenses Current tax and FBT |
|
|
3.500 |
8.100 |
|
Deferred Tax |
|
|
(0.731) |
(2.221) |
|
Profit / (Loss) from Ordinary
Activities after taxation |
|
|
4.102 |
8.344 |
|
Net profit for
the period |
|
|
4.102 |
8.344 |
|
Paid up equity share capital (Face value of Rs. 10 per share) |
|
|
9.221 |
9.221 |
|
Reserves excluding revaluation reserves |
|
|
-- |
-- |
|
Earning Per Shares - Basic and diluted before extraordinary items - Basic and diluted after extraordinary items |
|
|
4.45 4.45 |
9.05 9.05 |
|
Public
shareholding |
|
|
|
|
|
- Number of shares |
|
|
366710 |
366710 |
|
- Percentage of shareholding |
|
|
366710 |
366710 |
|
Promoters and Promoter Group
Shareholding |
|
|
39.77% |
39.77% |
|
a)
Pledge/ Encumbered - Number of shares |
|
|
NIL |
NIL |
|
- Percentage of shares (to total Promoter Shareholding) |
|
|
NIL |
NIL |
|
- Percentage of shares (To Total Share Capital of the company) |
|
|
NIL |
NIL |
|
|
|
|
|
|
|
b)
Non Encumbered - Number of shares |
|
|
555423 |
555423 |
|
- Percentage of shares (to total Promoter Shareholding) |
|
|
100.00% |
100.00% |
|
- Percentage of shares (To Total Share Capital of the company) |
|
|
60.23% |
60.23% |
NOTE :* Net Sales / Income also includes job work charges of Rs.27.247
millions from processing and packing of Amul Milk (Previous year Rs.26.185
millions)
STATEMENT OF
ASSETS AND LIABILITIES AS AT 30.09.2010
(Rs.
In Millions)
|
PARTICULARS |
|
STANDALONE |
|||
|
|
|
|
SIX
MONTHS ENDED ON 30.09.2010 UNAUDITED |
||
|
|
|
|
|
|
|
|
SOURCES OF FUNDS |
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
A] Share Capital |
|
|
|
9.221 |
|
|
B] Reserves &
Surplus |
|
|
|
172.701 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
A] Secured Loans |
|
|
|
65.310 |
|
|
B] Unsecured Loans |
|
|
|
60.903 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
-- |
|
|
TOTAL |
|
|
|
308.135 |
|
|
FIXED ASSETS [Net Block] |
|
|
|
53.484 |
|
|
INVESTMENT |
|
|
|
1.718 |
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
|
|
|
99.800 |
|
|
Sundry Debtors |
|
|
|
131.042 |
|
|
Cash & Bank
Balances |
|
|
|
29.949 |
|
|
Other Current
Assets |
|
|
|
-- |
|
|
Loans &
Advances |
|
|
|
126.545 |
|
Less : CURRENT LIABILITIES &
PROVISIONS |
|
|
|
|
|
|
|
Liabilities |
|
|
|
130.332 |
|
|
Provisions |
|
|
|
4.071 |
|
MISCELLANEOUS EXPENSES |
|
|
|
308.135 |
|
|
TOTAL |
|
|
|
|
|
Notes :
- The Company has not
recognnsad Deferred Tax Assets for the Half Year Ended 30.09.2010 as
prescribed by the provision of Accounting standard Rules (AS22)
‘Accounting for Taxes on Income” issued by the Institute çif Chartered
Accountants of India.
- As regards ALiditors qualifications In their Audited report for the
year ended 31” March, 2010! limited review for the quarter ended 30m Jtne,
2010 for The Company is not having internal audit system during the year:.
Iii the opinion of the Management, there are adequate Internal control
system and procedures commensurate with the size of the Company and nature
of its business.
- Status of Investors’ complaints : Pending at the beginning of the
quarter- Nil, Received and unresolved during the quarter- Nil, Pending at
the end of the quarter - NU
- Figures have been regrouped and redassified wherever necessary.
- The above financial results for the quarter ended September 30,
2010, which has been subjected to a Limited Review by the Auditors of the Company
were taken on record by the Board of Directors at their Meeting held on 1
November, 2010.
Segment wise Revenue, Results and Capital Employed under clause 41 of
the Listing Agreement
(Rs.
In Millions)
|
PARTICULARS |
|
STANDALONE |
||
|
|
|
QUARTER
ENDED 30.09.2010 UNAUDITED |
SIX
MONTHS ENDED 30.09.2010 UNAUDITED |
|
|
|
|
|
|
|
|
Segment Revenue (Net sales /
Income from each segment) |
|
|
|
|
|
|
|
|
|
|
|
a. Tin Containers |
|
|
237.918 |
579.500 |
|
b. Ice-Cream Cones
(Waffles and
Wafers) |
|
|
9.150 |
23.178 |
|
c. Milk and Food
Products Division |
|
|
14.077 |
27.561 |
|
Total |
|
|
261.145 |
630.239 |
|
|
|
|
|
|
|
Less : Inter
segment Revenue |
|
|
-- |
-- |
|
|
|
|
|
|
|
Net Sales / Income
from operations |
|
|
261.145 |
630.239 |
|
|
|
|
|
|
|
Segment Revenue (Profit (+) / Loss
(-) before tax and interest) |
|
|
|
|
|
|
|
|
|
|
|
a. Tin Containers |
|
|
6.383 |
18.127 |
|
b. Ice-Cream Cones
(Waffles and
Wafers) |
|
|
0.822 |
1.369 |
|
c. Milk and Food
Products Division |
|
|
0.263 |
0.505 |
|
Total |
|
|
7.468 |
20.001 |
|
|
|
|
|
|
|
Less : |
|
|
|
|
|
Interest |
|
|
1.869 |
4.853 |
|
Other un-allocable
expenditure net off unallocable income |
|
|
(1.271) |
0.925 |
|
Total Profit Before Tax |
|
|
6.870 |
14.223 |
|
|
|
|
|
|
|
Capital Employed (Segment Assets –
Segment Liabilities) |
|
|
|
|
|
|
|
|
|
|
|
a. Tin Containers |
|
|
131.882 |
131.882 |
|
b. Ice-Cream Cones
(Waffles and
Wafers) |
|
|
10.901 |
10.901 |
|
c. Milk and Food
Products Division |
|
|
18.723 |
18.723 |
|
d. Unallocated |
|
|
20.417 |
20.417 |
|
Total |
|
|
181.923 |
181.923 |
Contingent
Liabilities in respect of:
|
Particulars |
31.03.2009
(Rs. In Millions) |
|
Disputed demands of Central Excise Department not provided for Advance paid against said liability Note: In the opinion of the management, demand of central Excise is not
likely to materialize into the liability. However, even if the company is
called upon to pay the amount demanded by the central Excise, the same is
fully recoverable from customers concerned in terms of agreement/contract
entered into with the respective customers. |
27.277 0.700 |
|
Disputed demands of Sales Tax Authorities not provided for Advance paid against said liability |
0.250 0.100 |
|
Disputed demands of Income-Tax department not provided for Amount adjusted by income-tax department out of refunds of subsequent
assessment years. In respect of items mentioned above, till the matters are finally
decided the financial effect cannot be ascertained |
17.652 7.787 |
FIXED ASSETS
- Buildings
- Machinery
- Furniture and Fixtures
- Vehicles
Website Details:-
Subject is the manufacturers of metal
containers. The Company manufactures a wide range of OTS and General Purpose Cans
for packing Processed Foods, Ready-to-eat Foods, Canned Vegetables, Fruit
Pulps, Juices, Pickles, Dairy Products, etc. and Aerosol cans for Deodorants,
Room Fresheners, Pesticides, etc.
At Kaira Can, with their expertise built
over four decades of experience, they offer innovative packaging solutions to
preserve the goodness of nature’s produce and bring about customer’s
satisfaction. Over the years, Kaira Can has built a reputation for
its technological capabilities, state-of-the-art facilities, quality,
delivery and service.
At Kaira Can, with their expertise built
over four decades of experience, they offer innovative packaging solutions to
preserve the goodness of nature’s produce and bring about customer’s
satisfaction. Over the years, Kaira Can has built a reputation for
its technological capabilities, state-of-the-art facilities, quality,
delivery and service.
Subject today
stands out as the most preferred supplier of cans for export of foods and other
products.
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.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.