1. Summary Information
|
|
|
Country |
India |
|
Company Name |
THE SUPREME
INDUSTRIES LIMITED |
Principal Name 1 |
Mr. B L Taparia |
|
Status |
Good |
Principal Name 2 |
Mr. M P Taparia |
|
|
|
Registration # |
11-3554 |
|
Street Address |
612, Raheja
Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India |
||
|
Established Date |
17.02.1942 |
SIC Code |
-- |
|
Telephone# |
91-22-22851656/
22820072/ 22851159-60 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-22-22851657 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
PVC Pipes and Fittings |
|
|
# of employees |
2500
(Approximately) |
Product Name 2 |
Material Handling Crates |
|
Paid up capital |
Rs.254053740 /- |
Product Name 3 |
Plastic Moulded Chairs. |
|
Shareholders |
Total Promoter and Promoter Group – 49.52% Public Shareholding – 50.38% |
Banking |
· State Bank of India ·
BNP
Paribas |
|
Public Limited Corp. |
YES |
Business Period |
69 Years |
|
IPO |
YES |
International Ins. |
--- |
|
Public |
YES |
Rating |
A
(67) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
India
|
Supreme Petrochem Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.06.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,474,378,000 |
Current Liabilities |
4,731,890,000 |
|
Inventories |
2,906,428,000 |
Long-term Liabilities |
2,290,609,000
|
|
Fixed Assets |
5,626,038,000 |
Other Liabilities |
698,439,000 |
|
Deferred Assets |
-- |
Total Liabilities |
7,720,938,000 |
|
Invest& other Assets |
496,005,000 |
Retained Earnings |
3,527,857,000 |
|
|
|
Net Worth |
3,781,911,000 |
|
Total Assets |
11,502,849,000 |
Total Liab. & Equity |
11,502,849,000 |
|
Total Assets (Previous Year) |
10,337,388,000 |
|
|
|
P/L Statement as of |
30.06.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
20,057,376,000 |
Net Profit |
1,448,302,000 |
|
Sales(Previous yr) |
16,519,287,000 |
Net Profit(Prev.yr) |
973,861,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
THE SUPREME INDUSTRIES LIMITED |
|
|
|
|
Formerly Known As : |
SUPREME INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
612, Raheja Chambers, Nariman Point, Mumbai – 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2010 |
|
|
|
|
Date of Incorporation : |
17.02.1942 |
|
|
|
|
Com. Reg. No.: |
11-3554 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 254.054 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L35920MH1942PLC003554 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT01228D |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The shares of the company are listed on the Stock Exchanges. |
|
|
|
|
Line of Business : |
Manufacturers of PVC Pipes and Fittings, Material Handling Crates and
Plastic Moulded Chairs. |
|
|
|
|
No. of Employees
: |
2500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
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 15120000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and a reputed company of Supreme Group
controlled and managed by Taparia’s. Financial position of the company
appears to be sound. Directors are reported to be experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are reported to be regular ands as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
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 |
INFORMATION DECLINED BY
Management Non Co-operative (Name not disclosed)
LOCATIONS
|
Registered Office : |
612,
Raheja Chambers, Nariman Point, Mumbai - 400021, |
|
Tel. No.: |
91-22-22851656/
22820072/ 22851159-60 |
|
Fax No.: |
91-22-22851657 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
1161,1162, 6th Floor, Solitaire Corporate Park, 167, Guru
Hargovindji Marg, Andheri Ghatkopar Link Road, Andheri (E), Mumbai - 400 093,
Maharashtra |
|
Tel. No.: |
91-22-40430000/
67710000/ 30840000 |
|
Fax No.: |
91-22-40430099/
67710099 |
|
E-Mail : |
|
|
|
|
|
Factory : |
|
|
|
|
|
Branch Office: |
Located at:
|
|
|
|
|
Regional Offices
: |
518, Tel.: 91-11-51618008, 26468445, 26423162,26423163 Chennai New No. 15, Old No.
9, Urmila House, 3rd Floor, Ark Colony, Eldams Road, Alwarpet,
Chennai-600018, Tamilnadu, India Tel.: 91-44-42030971 / 42180522 Fax.: 91-44-52132809 Kolkata 601, Tel.: 91-33-24858840(Dir.),24858837,
24858839 (Board) / 24858846 Fax.: 91-33-
24858838 / 91-40-27616940 |
DIRECTORS
As on 30.06.2010
|
Name : |
Mr.
B L Taparia |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
25.11.1934 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.06.1977 |
|
Chairman /
Director of other companies
: |
1. Supreme Petrochem Limited 2. Supreme Capital Management Limited 3. Varali Investment and Trading Company Private Limited 4. Multilayer Films Private Limited |
|
|
|
|
Name : |
Mr.
M P Taparia |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
22.10.1937 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
02.08.1966 |
|
Chairman /
Director of other companies
: |
1. Supreme
Petrochem Limited 2. Supreme
Capital Management Limited 3. Rama Newsprit
and Paper Limited 4. SPL
Industrial Park Limited 5. SPL
Industrial Support Services Limited 6. Kabra
Extrusion Technik Limited 7. Multilayer
Films Private Limited 8. Jagatguru
Investment and Trading Company Private Limited |
|
|
|
|
Name : |
Mr. S.J. Taparia, |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr.
V K Taparia, |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. B V Bhargava |
|
Designation : |
Director |
|
Date of Birth/Age : |
16.04.1936 |
|
Qualification : |
M. Com., L.L.B |
|
Date of Appointment : |
25.09.1996 |
|
|
|
|
Name : |
Mr. E B Desai |
|
Designation : |
Director |
|
Date of Birth/Age : |
01-04-1931 |
|
Qualification : |
B A., L.L B. (Hons) |
|
Date of Appointment : |
30.08.2003 |
|
|
|
|
Name : |
Mr. H S Parikh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. N N Khandwala |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S R Taparia |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.10.1928 |
|
Qualification : |
B A. |
|
Date of Appointment : |
10.09.1966 |
|
Chairman /
Director of other companies
: |
1. Permanent Magnets Limited 2. Venu Plantations Limited |
|
|
|
|
Name : |
Mr.
Y P Trivedi |
|
Designation : |
Director |
|
Date of Birth/Age : |
06.01.1929 |
|
Qualification : |
B
Com L. L. B. |
|
Date of Appointment : |
30.08.2003 |
KEY EXECUTIVES
|
Name : |
Mr.
O P Roongta |
|
Designation : |
Senior Vice - President (Finance) and Secretary |
|
|
|
|
Name : |
Mr.
J M Totla |
|
Designation : |
Senior Vice - President (Operations) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2011
|
Category of
Shareholder |
Total No. of
Shares |
% of total No.
of Shares |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3,948,100 |
3.11 |
|
|
59,079,245 |
46.51 |
|
|
63,027,345 |
49.62 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
63,027,345 |
49.62 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1,594,109 |
1.25 |
|
|
29,055 |
0.02 |
|
|
8,685,728 |
6.84 |
|
|
10,308,892 |
8.12 |
|
|
|
|
|
|
15,944,370 |
12.55 |
|
|
|
|
|
|
24,745,410 |
19.48 |
|
|
11,369,370 |
8.95 |
|
|
1,631,483 |
1.28 |
|
|
18,990 |
0.01 |
|
|
1,573,123 |
1.24 |
|
|
39,370 |
0.03 |
|
|
53,690,633 |
42.27 |
|
Total Public shareholding (B) |
63,999,525 |
50.38 |
|
Total (A)+(B) |
127,026,870 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
127,026,870 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of PVC Pipes and Fittings, Material Handling Crates and
Plastic Moulded Chairs. |
||||||||||
|
|
|
||||||||||
|
Products : |
v
Moulded Furniture v
Moulds v
Storage and Material Handling Crates v
Petrochemicals v
Cross Laminated Films and Products v
Food Service ware v
Packaging Films v
Industrial and engineering Moulded Products v
Calendered Rigid PVC Films v
Protective Packaging Products v
Plastics Piping Systems |
||||||||||
|
|
|
||||||||||
|
Exports : |
|
||||||||||
|
Countries : |
v
v
v
v
v
v
|
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Countries : |
v
v
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Advance Payment or Credit (60 days) |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Credit (30/60 days) or Cash |
PRODUCTION STATUS (AS ON 30.06.2010)
|
Particulars |
Unit |
Installed
Capacity * |
Actual
Production |
|
Injection Moulded Products |
MT |
88450 |
57533.096 |
|
Extruded Products |
MT |
203530 |
132852.508 |
|
Machinery and Moulds |
Nos |
na |
16 |
Notes:-
(1) As certified by the Management and accepted by the auditors being a
technical matter.
(2) Production includes production achieved on labour job basis from
outsiders.
(3) Job work charges from outsiders Rs. 25.499 millions not included
herein (Previous Year Rs.77.038 millions).
(4) The Turnover does not include
(5) The Turnover does not include sale of Scrap for Rs. 41.520 millions
(Previous year Rs. 51.490 millions).
(6) The above Turnover does not include Excise Duty on sales Rs.
1658.569 millions (Previous year Rs 1570.716 millions).
(6) Production Quantities shown herein are after adjustment of
departmental consumption.
(7) Turnover includes 16 nos. (Previous Year 16 nos.) of Machinery and
Parts Rs. 7.168 millions (Previous Year Rs.10.816 millions) and Packing
Material and Components Rs. 22.564 millions ( Previous year Rs.22.501 millions)
transferred to other divisions for captive use.
GENERAL INFORMATION
|
No. of Employees : |
2500 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Central Bank of ·
State
Bank of ·
BNP
Paribas ·
ICICI
Bank Limited ·
Bank
of ·
IDBI
Bank Limited ·
Axis Bank
Limited · Vijaya Bank · Standard Chartered Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
Notes: 1. Working Capital Loans from Banks (A)
above, are secured / to be secured against (a) Hypothecation of stocks and Book Debts (b) Second / subservient charge on all
movable plant, machineries and moulds (except plant, machineries and moulds
at PVC Film, Malanpur and Khopoli unit) and (c) Immovable properties of the Company
situated at various locations (except properties at Andheri, Jalgaon, PVC
Film Unit at Malanpur and Khopoli), both present and future. 2. Term Loans from financial institutions
and banks [B(a) to B(h)] are secured / to be secured on first pan passu charge basis as under: (a) Immovable properties of the company,
situated at various locations, both present and future, subject to the exclusion
of properties, as mentioned in Clause 1 above. (b) Movable properties viz. plant,
machineries and moulds of the Company, both present and future, subject to
the exclusions as mentioned in Clause 1 above and second / subservient charge
on Current Assets viz. stocks and book debts of the Company. (c) Term loans from Banks [B(i) and B(j)]
are secured on first pan passu charge basis by exclusive mortgage over the
immovable property of the Company situated at Andheri (W) at Mumbai. 3. Certain of these loans are personally
guaranteed by three Directors which is counter guaranteed by the Company.
|
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|
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Banking
Relations : |
-- |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Auditors : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Chhogmal
and Company Chartered
Accountants |
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|
|
|
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|
Associates : |
Ř
Supreme Petrochem Limited Ř
Supreme Capital Management Limited Ř
Multiplayer Films Private Limited Ř
Varali Investment and Trading Company Private
Limited Ř
Jagatguru Investment and Trading Company Private
Limited Ř
Balabheem Investment and Trading Company Private
Limited Ř
Platinum Plastics and Industries Private Limited Ř
Suraj Packaging Private Limited Ř
Venkatesh Investment and Trading Company Private
Limited Ř
Jovial Investment and Trading Company Private
Limited Ř
Boon Investment and Trading Company Private
Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Subsidiaries |
Ř
The Supreme Industries Overseas FZE |
CAPITAL STRUCTURE
As on 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
11200000 |
Preference Shares |
Rs.10/- each |
Rs.112.000 Millions |
|
33800000 |
Unclassified Shares |
Rs.10/- each |
Rs.338.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.750.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25405374 |
Equity Shares (Including 18887209 Nos. Shares issued as fully paid Bonus Shares out
of Reserves) |
Rs.10/- each |
Rs.254.054 millions |
|
|
|
|
|
|
|
Total |
|
Rs. 254.054 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
254.054 |
254.054 |
276.217 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3527.857 |
2626.703 |
2229.939 |
|
|
4] Accumulated Losses |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3781.911 |
2880.757 |
2506.156 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1903.647 |
2151.797 |
2722.621 |
|
|
2] Unsecured Loans |
386.962 |
335.610 |
280.582 |
|
|
TOTAL BORROWING |
2290.609 |
2487.407 |
3003.203 |
|
|
DEFERRED TAX LIABILITIES |
698.439 |
642.809 |
522.809 |
|
|
|
|
|
|
|
|
TOTAL |
6770.959 |
6010.973 |
6032.168 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5626.038 |
5430.035 |
4640.868 |
|
|
Capital work-in-progress |
130.836 |
895.236 |
684.129 |
|
|
Assets held for disposal |
29.006 |
11.938 |
248.632 |
|
|
|
|
|
|
|
|
INVESTMENT |
336.163 |
336.163 |
339.535 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2906.428
|
1682.911
|
1566.948
|
|
|
Sundry Debtors |
1314.425
|
1156.380
|
1368.223
|
|
|
Cash & Bank Balances |
182.522
|
104.142
|
283.355
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
977.431
|
720.583
|
893.872
|
|
Total
Current Assets |
5380.806
|
3664.016
|
4112.398
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1273.142
|
875.716
|
816.632
|
|
|
Other Current Liabilities |
2846.097
|
2889.893
|
2969.923
|
|
|
Provisions |
612.651
|
560.806
|
206.839
|
|
Total
Current Liabilities |
4731.890
|
4326.415
|
3993.394
|
|
|
Net Current Assets |
648.916
|
(662.399)
|
119.004
|
|
|
|
|
|
|
|
|
MISCELLNEOUS EXPENDITURE |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6770.959 |
6010.973 |
6032.168 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
Sales Turnover |
20057.376 |
16519.287 |
13102.210 |
|
|
Other Income |
162.155 |
90.453 |
89.391 |
|
|
Total Income |
20219.531 |
16609.740 |
13191.601 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
2196.154 |
1399.120 |
753.983 |
|
|
Provision for Taxation |
747.852 |
425.259 |
242.900 |
|
|
Profit/(Loss) After Tax |
1448.302 |
973.861 |
511.083 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
587.403 |
686.349 |
657.881 |
|
Total Earnings |
587.403 |
686.349 |
657.881 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Material and Consumed |
5433.978 |
4564.941 |
5251.736 |
|
|
Stores & Spares |
4.419 |
3.852 |
12.471 |
|
|
Capital Goods |
242.634 |
313.183 |
178.459 |
|
Total Imports |
5681.031 |
4881.976 |
5442.666 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Materials |
13157.825 |
10513.353 |
8674.944 |
|
|
Manufacturing Expenses |
4006.077 |
3626.490 |
2989.453 |
|
|
Interest |
330.271 |
545.603 |
389.792 |
|
|
Depreciation & Amortization |
529.204 |
525.174 |
385.429 |
|
Total Expenditure |
18023.377 |
15210.62 |
12437.618 |
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
57.01 |
34.30 |
18.49 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
4733.610 |
5852.070 |
6624.570 |
|
Total Expenditure |
3951.360 |
5036.480 |
5787.600 |
|
PBIDT (Excl
OI) |
782.250 |
815.590 |
836.970 |
|
Other Income |
31.930 |
52.500 |
0.470 |
|
Operating
Profit |
814.180 |
868.090 |
837.440 |
|
Interest |
68.280 |
104.550 |
129.250 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
745.900 |
763.540 |
708.190 |
|
Depreciation |
142.850 |
151.420 |
163.570 |
|
Profit
Before Tax |
603.050 |
612.120 |
544.620 |
|
Tax |
200.000 |
200.000 |
150.000 |
|
Reported PAT |
403.050 |
412.120 |
394.620 |
|
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 |
403.050 |
412.120 |
394.620 |
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
PAT / Total Income |
(%) |
7.16
|
5.86 |
3.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.94
|
8.46 |
5.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.95
|
15.38 |
8.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.48 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.85
|
2.36 |
2.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
0.84 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
MANAGEMENT
DISCUSSION AND ANALYSIS
OVERVIEW
Global economic
environment continues to remain quite volatile. In the current globalised economy,
it is not possible to remain insulated from swings in the global economy.
However, Government of India is quite alert and proactive to continuously guide
the economy on a growth path in this tough period. The Indian entrepreneurs
also have shown great resilience to ride through smoothly in this economic
situation. It is forecasted that the GDP growth in the current year may touch
9.5%. This will be way ahead of the growth of GDP in the last two years.
Government of
INDUSTRY STRUCTURE
AND DEVELOPMENT
Plastics
consumption in their economy has gone up by 16% in volume in the year April
2009 to March 2010 against previous year. Another supplier of Polymers - Indian
Oil Corporation Limited - having a petrochemical complex at Panipat - has now
gone into production. Expanded capacity of PP plant of Reliance Industries
Limited at
COMPANY'S STRENGTH
AND GROWTH DRIVERS
Manufacturing sites
During the year,
the Company has opened a new site at Tamilnadu. The Company has divested its
assets at Nandesari. Thus the Company will continue to operate from 19
manufacturing sites.
Distribution Network
The Company’s
distributors networks are increasing year after year. There are still several
towns where dealer net works have to be created. The Company is focusing to
cover the unrepresented towns with growth potential in the next two years’ time
frame.
Growth Drivers
The Company’s
focus remains to increase the share of value added products along with top line
growth. Large investments in different product segments have been made in the
year. Further investments of Rs. 1800.000 millions have been planned to achieve
the twin objective of top line growth and increase in share of value added
products in the year 2010-11 in all its existing product segments. Substantial
portion of these amounts will be spent in segments other than Performance
Packaging film and Cross Laminated film. In these two segments, committed
capacities have still to go in production, in one of them and due to lower
capacity utilization in the other segment on account of shortage of labour.
OPERATIONAL
PERFORMANCE
PLASTIC PIPING
SYSTEMS
The PVC resin
prices were less volatile during the Financial Year 2009-2010 compared to
previous years. The resin prices remained range-bound There has been addition
to the resin production capacity of Chemplast Sanmar Limited taking total local
production capacity to 1.2 million tons. However, the demand during the year
2009-2010 has reached 1.8 million tons, thus creating large dependence on
imports. There are hardly any large capacity coming up for manufacture of PVC
resin in the world market and therefore, the supply side of resin is appearing
to remain tight and the country will depend continuously on large volume
imports. Since both Europe and
Both Gadegaon and
Jalgaon plants were under consolidation phase during the year. This was the
first full year of operation of moulding shop at Jalgaon after re-structuring
and re-layout of the plant. There is further expansion undertaken to meet the
growing demand of moulded fittings. The Company expects to commence full
production of expanded capacity by July’2010. Hence, the Company will have
benefit of increased production for the period of 11 months in the coming year.
At Gadegaon, apart from completing the expansion activity in uPVC and CPVC
production lines, the Company had undertaken a major project of mixing
automation for large production capacity of Company’s PVC Pipe Division. The
entire activity was completed by December 2009. The Company is seeing the
benefit of automation in terms of increase in out put, reduction in man power
requirement as well as consistency in quality. This has also helped in
improving the environment in the mixing division. Apart from renewal of ISO
9001/2008 certification, the Gadegaon unit is way ahead in implementing
(Environmental Management Systems) EMS (ISO 14001) and (Occupational, Health
and Safety, Assessment Series) OHSAS (BS 18001) certification very soon. The
Company expects to receive both the certifications during the first quarter of
the current year.
The Gadegaon plant
has also got BIS certification for marking of
a) Irrigation Lateral Tubes as per IS 12786-1989
b) HDPE pipes for sewage application as per IS 14333 -1996
c) PPRC Pipes as per IS 15801-2001
d) The Company has also received approvals for Sprinkler pipes for both
Part I and Part II as per IS 14151 – 1999
The quality of
various pipes and fittings manufactured by the Company are acknowledged as the
best in the market place. The brand names “Supreme”,”Acqua Gold”, “Life Line”
and ‘Indo Green” are capturing various markets on PAN India basis. The Company is in the process of creating a
training centre to train people about right method of installation of various
piping products. The Company is also building a Display Centre showing various
systems made by the Company. Both the training and display centre will be ready
by September 2010. The training centre will undertake a certification course
for the plumbers. The curriculum for the same is under preparation. The
training centre and display centre will also be used for training farming
community for right use of the piping products in a given application. The
Company’s channel partners will be encouraged to bring more of their
dealers/sub-dealers and end customers to visit the training and display centre.
The objective is to provide appropriate knowledge about Company’s products to
the end users. This will also educate the customers to know the advantages of
plastic piping products over pipes made from conventional products. This may
also enable the Company to establish Brand loyalty with the end users.
Similarly plumbing contractors, Civil Engineers, Developers and Architects may
visit the training cum display centre to enable them to know the wide variety
of products the Company makes alongwith their usage. Presently the Company is
the only Company which can claim of having various systems available for
different applications required in the field of Irrigation, water
transportation, industrial usage, infrastructure requirements, Borewell,
requirement for building industry, sewerage and rain water harvesting from a
single source. The Company has planned to expand it’s capacity at the
CONSUMER PRODUCTS
FURNITURE
The turnover of
furniture business has gone up from Rs. 1760.000 Millions to Rs. 2220.000
millions., thereby registering a growth of 26% invalue terms. The business grew
by more than 23% in volume. The customers continue to give preference to the
Company’s brand. The Company has decided to enhance the furniture making
capacities at
The Company is
focusing to broaden the range of value added furniture products. This helps to
build the superior brand image of Company’s products for its durability and
aesthetics. The launch of Designer Chair ‘DIVA’ was well accepted by the market
for its uniqueness of having nbuilt metal legs for stability, gas moulded
plastic seat for trength and transparent back for aesthetic beauty. The Company
plans to further increase the value added items range by launching a few more
unique Chair items, first time in the country. The share of value added
furniture products sale has enhanced by more than 5% against plan of 3% over
previous year share. It was 27% of over all sales. The Company intends to
increase share of such products sales by another 1% to 2% in value term during
next 12 months. The Company has already started, the import and sales of
certain related items through existing channel partnes to fill the demand
vacuum for those items, which are not yet being manufactured in
MATS
The main stay of
this business being exports, the performance of Mat Division has hampered due to
recession in global market. Overall volume declined by about 10% and margins
have also shrunk. Depreciation of Rupee during last quarter and improvement in
overseas market demand are expected to improve the performance of this division
in the current year.
INDUSTRIAL PRODUCTS
The year started
with recovery in Global as well as Indian economy after a recessionary year.
Growth in both the auto sector and Consumer Durable sector remained good. The
Division achieved growth of over 21% in both value and volume terms Growth in Auto sector and Appliances and
Entertainment Electronics sector remained at 21% and 22% respectively during
the year. Revival in auto sector in particular is significant. Company has also
taken initiatives to upgrade its facilities and also to become tier I supplier
by associating with the customers right from the stage of conceptualization and
moulds development. Prestigious Global Truck of Tata Motors Limited, which was
unveiled during last June, has started picking up. The Company expects
increment in volumes in the current year. On achieving requisite volume growth
in Global Trucks, Company plans to put up a new facility at
The Company
achieved a value growth of approx. 25% and a volume growth of approximate 20%
during last year. This was inspite of poor performance in retail chain business
as well as poor crops of Tomato and Grapes where the Company’s products are
preferred for post harvest transportation. The Company’s other businesses could
be achieved as planned including that of soft drink industry which fared quite
well. The Company has further developed several new moulds to cater to ever
increasing applications. Supplies of these products will commence from second
quarter of 2010-11 The Company continues to service its clients with least lead
time at economical cost by manufacturing at six own manufacturing sites spread
across the country. The Company intends to increase the same further by
starting a new manufacturing facility at Andhra Pradesh. The Company has fabrication
facilities at locations other than manufacturing, as well, to develop tailor
made crates to meet specific requirement of applications at customersend. This
is helping in a big way to replace conventional material usage while handling
products at customers end.
These are value
added products for the Company. The Company intends to upgrade its fabrication
facilities with automation and usage of newer materials. The Company will also
be starting a new fabrication facility at Chennai to improve its services to
fast growing automobile and appliance industry there. The Roto Moulding
facility of Company at Gadegaon is well established now. More than 18 newer
items were developed and commercial supplies were effected. The Company intends
to enhance the capacity of Roto Moulding facility. The required plant and
machineries have been ordered which will go into production during the year.
The Company continues to be leader in the Injection Moulded Pallet business in
PACKAGING
PRODUCTS
PACKAGING
FILMS
The business of
the Packaging Film division grew by 24% from Rs. 580.000 millions to Rs.
720.000 millions whereas volume growth was 24%, from 4569 tons to 5692 tons.
Business of Specialty Films grew by about 24%. The Company’s 5 and 7 layer
lines were totally booked. The Company has taken decision to invest in a new 7
layer line along with an 8 colour printing machine to enhance the capacity from
6000 tons to 9500 tons per anum. This plant is expected to commence production
in October 2010. The Company expects a growth of over 25% in the current year
and reach full capacity utilization by June 2012. The Khopoli unit received BRC
(British Retail Consortium) Certificate and became the First Multilayer
Packaging Company in
PROTECTIVE
PACKAGING PRODUCTS
The last financial
year ended with an indication of potential to a good business growth in all the
three business verticals viz. Packaging, Construction and Insulation, in the
forthcoming years. The business of the first half of the year was not
encouraging, but there was significant growth achieved in the second half of
the year. The overall business growth recorded 22.8% in volume and 18.9% in
value.
PACKAGING
In the last few
years, the packaging business growth was not so significant which has now
re-gained its pace. More and more institutional customers are increasing their
intake and switching over to the Company from the competitors for reliability
and service factor. This has finally resulted in a growth of 17% in volume and
11% in value (after a negative growth in the first 6 months). The existing
manufacturing capacity of foam in all locations are fully booked, the division
is now working to enhance the overall saleable capacity of foam from 7200 MTPA
to 9400 MTPA. All conversion facilities are now being upgraded with modern
conversion equipments to create an exclusivity factor and also offer cost effective
solutions to customers packaging needs.
CONSTRUCTION
The saleable
capacity of single stage cross link foam products has increased from 2975 MTPA
of last year to 3525 MTPA during the year. The business in this product grew 19%
in volume and 14% in value against last year. The construction segment was
quite weak in the first half. However the second half has seen an improving
trend and the Company expect this to get better in the coming year. The
Company’s product Dura Board which is mainly used as an expansion joint
filler goes in all major projects in India has been now awarded ISI
certification, (the first company to get for this product), which will further
enhance the future business in all Government projects.
INSULATION
Significant growth
of 61% in volume and 49% in value has been achieved in the business of Chemical
Cross – Link foam against last year. The product is finding good acceptance by
all leading insulation consultants in
CROSS
LAMINATED FILM
Cross Laminated
Film is used for making Tarpaulins, bags, rainwater harvesting systems, fumigation
covers, vermibed, water tank and varieties of other agricultural applications.
Business for Cross Laminated film and products grew by 14% in both volume and
value terms. The Company sold 11554 tons of products against 10174 tons during
the previous year. Due to poor rainfall throughout the country during June to
August 2009, the sales for the first quarter of the year were adversely
affected as lot of material sold at the year end remained in the pipeline.
Demand for the Company’s products picked up from mid October but barring few
months the Company could not achieve the expected fabrication level mainly due
to shortage of labour. This resulted in demand outstripping the supply and
lower utilisation of installed capacity. This year the monsoon is predicted to
be normal which may definitely boost demand for the Company’s products. The
Company has now made additional arrangements to enhance the fabrication
capacity, which was a limiting factor in the previous year, by deploying new
contractors, imparting vigorous training to labourers under these contractors
and automation of some of the processes involved in the fabrication activity.
The Company has a
strong presence in European market which is still reeling under low growth
phase. Despite this the exports of Cross Laminated film products have posted
positive growth of 3%. Exports increased to 1320 tons from 1281 tons in the
previous year. Export Orders worth I 18.000 Millions remained unexecuted at the
year end. The spurt in demand for the Company’s products in the last few months
specially from newer foreign markets is a pointer towards potential of
substantial volume growth in exports in the years to come. The overall business
of the division is likely to grow by 25% in volume in the coming year.
The Company’s
collaborators have developed Cross Line Bonded film, which is a next generation
XF film having superior properties. They have been granted Indian patent for
this film valid upto 2023. The Company has launched this film in the Indian
market and is awaiting its feedback. As per the agreement entered into by the
company, the company enjoys an exclusive right to produce the same in
CONSTRUCTION
BUSINESS
The swanky commercial
complex “Supreme Chambers”, a
OVERALL
GROWTH PROSPECTS
The business
conditions are favourable. Several new capacities are added over a period of
previous three years with large investments to achieve top line growth
alongwith increase in share of value added products. Year after year, the share
of value added products are growing resulting into improved operating profit
margin. In the previous year, the company achieved a volume growth of 12%. The
company expects to achieve a volume growth of 20% plus in the current year. The
Company apart from making investments in the existing segments, is seriously
moving ahead to add two new segments in plastics products in the current year.
FINANCE
During the year,
Interest and Financial Charges were reduced to Rs. 330.300 millions, as
compared to Rs. 545.600 millions during the previous year. In terms of
percentage to the Total Income, the Interest Cost is reduced to 1.64% in the
year 2009-10 as compared to 3.29% in the previous year which reflects
considerable reduction in Interest Cost in absolute value as also in terms of
the percentage of Total Turnover on y-o-y basis. The outstanding interest
bearing liabilities as on 30th June 2010 bear average interest of 7.93% p.a as compared
to 9.41% p.a as on 30th June 2009. This has been achieved by the Company by (1)
Prepayment of outstanding high cost debt of Rs. 224.800 millions pertaining to
the development of Andheri project from the Internal Accruals of the Company
(2) Replacement of high cost debt with low cost debt to the extent of Rs.
833.300 millions (3) Judicious management of its Working capital requirements
by raising short term resources through placement of Commercial Papers at
considerably lower rate and availment of Buyer’s Credit for financing its
imports of Raw materials / Capital goods by way of fully hedged foreign
exchange exposure, at very competitive rates. The Long Term Debt has been
reduced to Rs. 1857.000 millions in 2009-10 vis-ŕ-vis Rs. 2914.200 millions at
the end of 2008- 09. The Long Term Debt - Equity Ratio of the Company has
considerably improved to 0.49 times as on 30th June 2010 vis-ŕ-vis 1.02 times
at the end of the previous year.
The Company’s focus
shall remain to further reduce its interest bearing liabilities to bring the
Interest cost below 1% of Total Turnover by the end of next year. The Company
has incurred Capital Expenditure of Rs. 790.000 millions during the year, out
of total committed Capex of Rs. 1260.000 millions primarily
(i) To enhance the
Capacity of PVC Pipe System at Jalgaon and Gadegaon in
(i) Industrial Components
(ii) Furniture
(iii) Material Handling System
(iv) Protective Packaging Products
(v) Plastics Pipe System
The Company may
commit further sums of monies to puruse its initiative in launching two new
products in the current year. In view of the likely accrual of healthy Cash
Flow from its operations and on sale of
CRISIL
RATING
CRISIL has
upgraded the Rating outlook to “A+Positive” from “A+ Stable”, in respect of
Long term facilities of the company which indicates that the degree of safety
with regard to timely payment of interest and principal on the instruments is
very strong. CRISIL has re-affirmed the Rating outlook of ‘P1’ in respect of
Short Term facilities of the Company.
Contingent Liabilities
|
Particulars |
30.06.2010 (Rs. in millions) |
|
Bills
/ Cheques discounted |
71.239 |
|
Guarantees
given by Banks |
83.491 |
|
Claims
against the company including show cause cum demand notices from Central
Excise Department not acknowledged as debts |
87.130 |
|
Disputed
sales Tax / Entry Tax Demands |
190.237 |
|
Disputed
Sales Tax /Entry Tax Demands |
45.974 |
|
Other
Claims against the company not acknowledged as debts |
16.407 |
UN-AUDITED
FINANCIAL RESULTS FOR THE THIRD QUARTER ENDCED 31ST MARCH, 2011
(Rs.
In Millions)
|
Sr. no. |
Particulars |
3RD
QUARTERE ENDED 31.03.2011 (Reviewed) |
9 MONTHS ENDED 31.03.2011 (Reviewed) |
|
1 |
Net Sales |
16837.287 |
6536.768 |
|
a |
Plastic Business |
397.521 |
0.000 |
|
b |
Construction Business |
17034.788 |
6536.768 |
|
2 |
Other Operating income |
175.451 |
67.797 |
|
|
Total income |
17210.239 |
6624.566 |
|
3 |
Goods Consumption |
|
|
|
a |
Raw Material Consumed |
10955.477 |
4344.561 |
|
b |
Cost of gods traded |
561.576 |
177.231 |
|
c |
Cost of Premises Sold |
145.245 |
0.000 |
|
d |
(Increase) / Decrease in stock in trade |
[756.376] |
[94.694] |
|
4 |
Employees' Cost |
555.424 |
229.049 |
|
5 |
Other Expenditure |
3214.081 |
1131.446 |
|
6 |
Total Expenditure before Interest (3+4+5) |
14775.427 |
5787.593 |
|
7 |
Operating Profit (1+2-6) |
2434.812 |
836.972 |
|
8 |
Other Income |
84.895 |
0.468 |
|
9 |
Profit Before Interest, deprecation and Tax (7+8) |
2519.707 |
837.440 |
|
10 |
Interest |
302.081 |
129.254 |
|
11 |
Profit before Deprecation on and Tax (9-1 0) |
2217.626 |
708.186 |
|
12 |
Deprecation, Amortisation and impairment |
457.831 |
163.565 |
|
13 |
Profit Before Tax (11-12) |
1759.798 |
544.621 |
|
14 |
Provision for Taxation |
-- |
-- |
|
|
Corporate Tax |
550.000 |
150.000 |
|
|
Deferred Tax |
0.000 |
0.000 |
|
15 |
Net Profit after Tax (13-14) |
1209.795 |
394.621 |
|
16 |
Paid Up Equity Share Capital (Face Value Rs.10/-) |
254.054 |
254.054 |
|
17 |
Reserves Excluding evaluation Reserve |
-- |
-- |
|
18 |
Earning per Share – Basic and Diluted (Rs.) |
9.52 |
3.11 |
|
19 |
Cash earning per Share - Basic and Diluted (Rs.) |
13.13 |
4.39 |
|
20 |
Public Shareholding |
|
|
|
|
-No. of shares |
63899525 |
63999525 |
|
|
-Percentage of shareholding |
50.38% |
50.38% |
|
21 |
Promoters and Promoter Group Shareholding |
|
|
|
a |
a) Pledged/Encumbered |
|
|
|
|
-Number of shares |
Nil |
Nil |
|
|
-Percentage of shares (as a % of the shareholding of promoter and
promoter group) |
Nil |
Nil |
|
|
-Percentage of shares (as a % of the total share capital of the
company) |
Nil |
Nil |
|
b |
b) Non-encumbered |
|
|
|
|
-Number of shares |
63027345 |
63027345 |
|
|
-Percentage of shares (as a % of the shareholding of promoter and
promoter group) |
100.00% |
100.00% |
|
|
-Percentage of shares (as a % of the total share capital of the
company) |
49.62% |
49.62% |
NOTE
- The Company process 167680 MT of polymers during 9 months of the current year against 135392 MT in the corresponding period of previous year achieving volume growth of 23.85% during first nine months of current year. The company envisage annual volume growth during the current year in excess of 20% over the previous year.
- The company is engaged mainly in products of plastic products. However during the previous year company has recognized construction of commercial property as a new non recurring business activity. Revenues form the same being insignificant with respect to total turnover of the company, production of plastic products has only been considered as the reportable segment as per Accounting Standard on Segment Reporting (AS-17) issued by ICAI. The geographical segmentation is not relevant as export turnover is not significant in respect to total turnover.
- Provision for Deferred Tax will be ascertained accounted for at the end of the year.
- Provision as per Accounting Standard (AS) 15 Employee benefits revised will be accurated for at the end of the year.
- The consolidated results includes results of (a) the company’s 100% Subsidiary Company viz. “The Supreme Industries Overseas (FZE) incorporated in SAIF Zone, UAE and (b) Associate Company viz “Supreme Petrochem Limited”, in which the company holds 29.861% of its paid-up equity share capital.
- Investors complaints during the quarter, opening balance nil, Received during the quarter : 1, Pending as on 31st March 2011: Nil
- The figures for the previous quarterly year have been regrouped/ rearranged wherever necessary.
The above financial results, which have been subjected to “Limited Review” by the Audited have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 21st April, 2011 and 22nd April 2011, Respectively.
Fixed assets:
·
·
· Buildings
· Plant, Machinery and Electrical Installations
· Moulds and Dies
· Furniture, Fixture and Office Equipments
· Vehicles
· Sundry Equipments
Press Releases
THE SUPREME INDUSTRIES LIMITED (SIL) ANNOUNCES UNAUDITED
FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH SEPTEMBER, 2010.
Mumbai, 19th October, 2010 – The Supreme Industries Limited (SIL), India’s
leading processors of Plastics, announced its Un-audited financial results for
the first quarter ended 30th September, 2010, at its Board Meeting held today.
The financial performance highlights for the 1st Quarter
ended 30th September, 2010, are as follows –
- The Company
processed 45,531 MT Polymers during the 1st Quarter of the Current Year
against 38,611 MT in the corresponding quarter of the previous year
achieving volume growth of 18%.
- SIL’s, Total Income and Operating
Profit for the 1st quarter of the current year amounted to Rs. 4733.600
millions and Rs. 782.200 millions (including Rs. 356.000 millions and Rs.
214.900 millions, respectively from sale of premises in Commercial
Complex), as compared to Rs. 3433.800 millions and Rs. 512.900 millions,
for the corresponding quarter of the previous year, recording an increase
of 37.85% and 52.50% respectively.
- The Profit before
Tax and Profit after Tax, for the 1st quarter of the current year amounted
to Rs. 603.100 millions and Rs. 403.100 millions (including Rs. 214.900
millions and Rs. 146.400 millions, respectively, from sale of premises in
Commercial Complex), as compared to Rs. 298.600 millions and Rs. 198.600
millions, for the corresponding quarter of the previous year, recording an
increase of 101.98% and 102.97% respectively.
THE FINANCIAL PERFORMANCE IS
SUMMARIZED BELOW – (RS. IN MILLIONS)
|
Particulars |
Financial Results
for the 1st Quarter year ended 30th September |
Financial Results
for the year ended 30th June 2010 |
||
|
|
2010 |
2009 |
Change (%) |
|
|
Total Income |
4733.600 |
3433.800 |
37.85 |
20148.800 |
|
Operating Profit (PBDIT) |
782.200 |
512.900 |
52.50 |
2984.800 |
|
Cash Profit (PAT + D) |
545.900 |
323.300 |
68.85 |
1977.500 |
|
Profit Before Tax |
603.100 |
298.600 |
101.98 |
2196.200 |
|
Net Profit |
403.100 |
198.600 |
102.97 |
1448.300 |
Commercial Complex viz. “Supreme Chambers” consisting of 10 floors,
comprised of saleable area of 2,75,000 sq. ft., with most modern state of the art
amenities/facilities, at Company's site at Andheri (West), Mumbai, is ready for
occupation. During the quarter Company has realised Rs.356.000 millions from
sale of 23,081 sq. ft. of the premises and shown separately under "Net
Sales (Construction business)". Proportionate cost thereof including
interest on funds employed has been shown as "Cost of premises Sold".
Other overheads pertaining to sale of premises amounting to Rs.14.105 millions
have been shown under respective head of expenditure. Provision for Corporate
Tax includes Rs.68.500 millions towards profit accrued from construction
business.
MR. M. P. TAPARIA, MANAGING DIRECTOR, THE SUPREME INDUSTRIES LIMITED,
SAID:
“Seeing the good growth potential in all the product segments, where the
Company operates, and due to the increased demand coming from automotive,
agriculture, industrial and consumer sectors, the Company has committed to
invest sum of Rs. 3250.000 millions in the current year, which also includes
sum of Rs. 500.000 millions allocated for the manufacture of domestic LPG
composite Cylinders. The share of value added products are growing resulting
into improved operating profit margin. The company expects to achieve a volume
growth of 20% plus in the current year.”
ABOUT SUPREME INDUSTRIES LIMITED
Supreme Industries Limited is
Supreme Industries has 19 technologically advanced manufacturing facilities
located at various places spread across the country. The company has built up
excellent relationship with its distributors and is also providing orientation
to them, in order to ensure proper service to ultimate customers.
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 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. 44.93 |
|
|
1 |
Rs. 72.08 |
|
Euro |
1 |
Rs. 64.21 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
67 |
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.