MIRA
INFORM REPORT
|
Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUJANA UNIVERSAL INDUSTRIES
LIMITED (w.e.f. 2003) |
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|
|
|
Formerly Known
As : |
SUJANA INDUSTRIES LIMITED |
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Registered
Office : |
8-2-248/1/7/18, Nagarjuna Hills, Punjagutta, Hyderabad-500082, Andhra
Pradesh |
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Country : |
India |
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Financials (as
on) : |
30.09.2009 |
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Date of
Incorporation : |
22.08.1986 |
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Com. Reg. No.: |
01-006714 |
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Capital Investment
/ Paid-up Capital : |
Rs. 1482.031 millions |
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|
CIN No.: [Company Identification
No.] |
L29309AP1986PLC006714 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS00195G |
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PAN No.: [Permanent Account No.] |
AACCS8630H |
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Legal Form : |
A public limited liability
company. The company’s shares are listed on the stock exchanges. |
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Line of Business
: |
Manufacturers, importers and
exporters of iron, ball bearing, ceiling fans, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 56000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established and reputed company having satisfactory track.
General financial position is satisfactory. Trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
8-2-248/1/7/18, Nagarjuna Hills, Punjagutta, Hyderabad-500082, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-22351885 / 1887 |
|
Fax No.: |
91-40-23351882 / 23351887 |
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E-Mail : |
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Website : |
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Factory 1 : |
LEC
Division Plot
Nos.10,11 & 12, Survey No. 172, Bollaram Village, Jinnaram Mandal, Medak
District, Andhra Pradesh, India |
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|
Factory 2 : |
Domestic
Appliances Division Plot
No.1B, Survey No. 308, Sri Venkateswara Co-operative Industrial Estate,
Jeedimetla, Hyderabad-500 055, Andhra Pradesh, India |
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Factory 3 : |
Steel
Products Division Plot
No.128/A, I.D.A. Bollaram, Jinnaram Mandal, Medak District, Andhra Pradesh,
India |
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Factory 4 : |
Infrastructure Division No. 18, Nagarjuna Hills, Panjagutta, Hyderabad – 500082,
Andhra Pradesh, India |
DIRECTORS
AS ON 30.09.2009
|
Name : |
Mr.
Y.S. Chowdary |
|
Designation : |
Chairman |
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|
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|
Name : |
Mr.
G. Srinivasa Raju, |
|
Designation : |
Managing
Director |
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|
Name : |
Dr.
K. Srinivasa Rao |
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Designation : |
Directors |
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|
Name : |
Mr.
J. Ramakrishnan |
|
Designation : |
Directors |
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|
Name : |
Mr.
S. Hanumantha Rao |
|
Designation : |
Directors |
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Name : |
Mr. S. Ramachandran |
|
Designation : |
Director |
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Name : |
Mr. D Rama Rao |
|
Designation : |
Independent Non Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. P. Apser Hussen |
|
Designation : |
Company Secretary |
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MANAGEMENT
COMMITTEE : |
|
|
Shri. Y. S. Chowdary |
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|
Shri G. Srinivasa Raju |
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|
Shri J. Ramakrishnan |
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AUDIT COMMITTEE
: |
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|
Dr. K. Srinivasa Rao |
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|
Shri J. Ramakrishnan |
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|
Shri S. Hanumantha Rao |
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|
Shri B. Ramachandra Rao |
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SHARE TRANSFER
COMMITTEE |
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|
Shri. Y. S. Chowdary |
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|
Shri G. Srinivasa Raju |
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|
Shri J. Ramakrishnan |
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SHAREHOLDER’S
GRIEVENACE COMMITTEE |
|
|
Shri. Y. S. Chowdary |
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|
Shri G. Srinivasa Raju |
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|
Shri J. Ramakrishnan |
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REMUNERATION
COMMITTEE |
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|
Shri S. Hanumantha Rao |
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|
Dr. K. Srinivasa Rao |
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|
Shri J. Ramakrishnan |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Indian |
|
|
|
Individuals / Hindu Undivided Family |
1159100 |
1.19 |
|
Bodies Corporate |
32728542 |
33.62 |
|
|
|
|
|
Public
Shareholding |
|
|
|
Financial Institutions / Banks |
8431738 |
8.66 |
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Foreign Institutional Investors |
1058848 |
1.09 |
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Non Institutions
|
|
|
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Bodies corporate |
11532093 |
11.85 |
|
Individuals |
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|
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs. 0.100
million |
20278867 |
20.83 |
|
Individual shareholders holding nominal share capital in excess of Rs.
0.100 million |
22011056 |
22.61 |
|
Any Others (Specify) |
140828 |
0.14 |
|
Clearing Member |
22172 |
0.02 |
|
Non Resident Indian |
117656 |
0.12 |
|
Trusts |
1000 |
-- |
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|
|
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|
Shares held by custodians and against which depository Receipts have
been issued |
|
|
|
Public |
41500000 |
29.89 |
|
|
|
|
|
Total |
138841072 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, importers and exporters
of iron, ball bearing, ceiling fans, etc. |
|
|
|
|
Products : |
Product Description Item Code No. Fans
841451
Bearings 8482 Cast
Iron Products 720113001 |
PRODUCTION STATUS AS ON 30.09.2009
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Bearings |
Nos. |
10000000 |
10000000 |
-- |
|
Cast
Iron Products |
MTs |
60000 |
60000 |
-- |
|
Appliances |
Nos. |
-- |
718000 |
-- |
|
Ball
Bearings & Components |
Nos. |
-- |
-- |
47825 |
|
Appliance
Ceiling Fans, Others and Components |
Nos. |
-- |
-- |
73575 |
|
Steel
Products |
Nos. |
-- |
-- |
10456 |
|
Steel
Products (including Processed / Traded Items) |
Tones |
-- |
-- |
306126 |
GENERAL INFORMATION
|
No. of Employees : |
1500 (Approximately) |
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Bankers : |
·
Bank Of ·
Bank Of ·
IDBI Bank Limited ·
UCO Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
· IFCI Limited · IDBI Bank Limited |
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Auditors : |
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|
Name : |
T. Raghavendra and Associates Chartered Accountants |
|
Address : |
No. 22, Krishna Apartments, 5th Floor, |
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|
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Wholly Owned Subsidiary : |
·
Pac Ventures Pte. Limited ·
Sujana Holdings Limited ·
Nuance Holdings Limited ·
Sun Trading Limited |
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|
|
|
Associates: |
·
Sujana Towers Limited ·
Sujana Metal Products Limited. ·
Sujana Finance and Trading Pvt Limited. ·
Sujana Holdings Limited. ·
Sujana Projects Limited ·
Sujana Energy Private Limited. ·
Sujana Transmissions Limited. ·
Yalamanchili Finance and Trading Private Limited. ·
Foster Infin and Trading Limited. ·
Y.S. Consultancy Services Private Limited. ·
Genemedix Biological Private Limited. |
CAPITAL STRUCTURE
AS ON 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130000000 |
Equity Shares |
Rs.10/- each |
Rs. 1300.000 Millions |
|
2500000 |
Cumulative Redeemable Preference Shares |
Rs.100/-
each |
Rs. 250.000
Millions |
|
|
Total |
|
Rs. 1550.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
123841072 |
Equity Shares |
Rs.10/- each |
Rs. 1238.411
millions |
|
2436200 |
Cumulative Redeemable Preference Shares |
Rs.100/-
each |
Rs. 243.620
millions |
|
|
Total |
|
Rs. 1482.031 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2009 (12 months) |
30.09.2008 (15 months) |
30.06.2007 (12 months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1482.031 |
1482.031 |
1083.238 |
|
|
2] Share Application Money |
0.000 |
0.000 |
100.450 |
|
|
3] Reserves & Surplus |
3668.638 |
3471.714 |
2819.729 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5150.669 |
4953.745 |
4003.417 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1958.460 |
1575.689 |
1725.474 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1958.460 |
1575.689 |
1725.474 |
|
|
DEFERRED TAX LIABILITIES |
346.029 |
334.671 |
312.296 |
|
|
|
|
|
|
|
|
TOTAL |
7455.158 |
6864.105 |
6041.187 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2027.386 |
2016.793 |
1840.515 |
|
|
Capital work-in-progress |
59.140 |
116.342 |
98.470 |
|
|
|
|
|
|
|
|
INVESTMENT |
265.354 |
100.774 |
14.945 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
501.188
|
1032.926
|
403.680
|
|
|
Sundry Debtors |
5578.259
|
2313.198
|
2947.037
|
|
|
Cash & Bank Balances |
9.335
|
654.691
|
15.956
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
2711.430
|
2197.300
|
1796.110
|
|
Total
Current Assets |
8800.212
|
6198.115 |
5162.783 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3238.207
|
1299.309 |
836.365 |
|
|
Other Current Liabilities |
411.123
|
229.566
|
160.970
|
|
|
Provisions |
47.604
|
39.044
|
78.191
|
|
Total
Current Liabilities |
3696.934
|
1567.919 |
1075.526 |
|
|
Net Current Assets |
5103.278
|
4630.196
|
4087.257
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7455.158 |
6864.105 |
6041.187 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2009 (12 months) |
30.09.2008 (15 months) |
30.06.2007 (12 months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13977.332 |
11728.392 |
9090.791 |
|
|
|
Other Income |
48.259 |
81.540 |
49.021 |
|
|
|
TOTAL (A) |
14025.591 |
11809.932 |
9139.812 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, Administrative and Selling
Expenses |
449.891 |
339.562 |
273.725 |
|
|
|
Raw Material Consumed |
12246.617 |
11097.905 |
8334.425 |
|
|
|
Increase/(Decrease) in Finished Goods |
526.494 |
[607.227] |
[255.827] |
|
|
|
TOTAL (B) |
13223.002 |
10830.240 |
8352.323 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
802.589 |
979.692 |
787.489 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
264.443 |
354.560 |
238.515 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
538.146 |
625.132 |
548.974 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
251.994 |
279.619 |
210.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
286.152 |
345.513 |
338.359 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
56.526 |
58.374 |
113.731 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
229.626 |
287.139 |
224.628 |
|
|
|
|
|
|
|
|
|
|
PRIOR YEAR
ADJUSTMENTS / EXORDINARY EXPENSES |
(29.918) |
(57.405) |
(6.612) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1453.904 |
1227.215 |
1011.635 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Cumulative |
2.436 |
3.045 |
2.436 |
|
|
BALANCE CARRIED
TO THE B/S |
1651.176 |
1453.904 |
1227.215 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
3998.362 |
1255.547 |
726.193 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
2770.663 |
1645.345 |
701.908 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.59 |
1.83 |
-- |
|
QUARTERLY /
SUMMARISED RESULTS
(Rs.
In Millions)
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
Net Sales |
6326.370 |
7593.070 |
6100.350 |
9108.450 |
|
Total Expenditure |
6086.270 |
7375.880 |
5900.810 |
8880.770 |
|
PBIDT (Excl OI) |
240.100 |
217.190 |
199.540 |
227.680 |
|
Other Income |
4.730 |
60.850 |
1.400 |
7.320 |
|
Operating Profit |
244.830 |
278.040 |
200.940 |
235.000 |
|
Interest |
84.110 |
109.790 |
116.840 |
150.020 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
160.720 |
168.250 |
84.100 |
84.980 |
|
Depreciation |
67.900 |
69.560 |
68.100 |
68.400 |
|
Profit Before Tax |
92.820 |
98.690 |
16.000 |
16.590 |
|
Tax |
31.560 |
33.550 |
5.440 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
61.260 |
65.140 |
10.560 |
16.590 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
61.260 |
65.140 |
10.560 |
16.590 |
KEY RATIOS
|
PARTICULARS |
|
30.09.2009 (12 months) |
30.09.2008 (15 months) |
30.06.2007 (12 months) |
|
PAT / Total Income |
(%) |
1.64
|
2.43 |
4.80
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.05
|
2.95 |
3.72
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26
|
4.21 |
4.76
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.07 |
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.16
|
0.63 |
0.70
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
3.95 |
4.80
|
LOCAL AGENCY FURTHER INFORMATION
COMPANY'S
PERFORMANCE:
The Company has
achieved a turnover of Rs. 13977.331 millions up to 30.09.2009, consisting of Twelve
(12) months, as against the turnover of Rs.11728.392 millions for the previous
year ended 30.09.2008 consisting of fifteen (15) months.
Operations:
Light Engineering
Components (LEC) Division:
The total turnover
of the Division for the 12 months period ended 30.09.2009 is Rs.128.200
millions, which mainly includes the turnover of Bearings, Bearing components
and other products.
Appliances
Division
The total turnover
of the Division for the 12 months period ended 30.09.2009 is Rs.175.900
millions, which mainly includes the turnover of all verities of Fans and Fan
Components and other products.
Steel Products
Division
The total turnover
of the Division for the 12months period ended 30.09.2009 is Rs.13673.200 millions,
which mainly includes the turnover of Casting Division, Processing Division and
Trading of Steel products. During the period the export turnover of various
products is Rs. 3986.200 millions.
Infrastructure
Division
The Company has
started Infrastructure Division. The Company has plans to undertake
construction and developmental activities like integrated residential
townships, commercial buildings and specialized design and construction of
integrated medical college and super specialty hospital etc.,
MANAGEMENT
DISCUSSION AND ANALYSIS
The following
Management Discussion and Analysis contains a brief write-up on the industry
structure, opportunities and concerns, performance of the Company with respect
to the operations and other information.
Business Outlook:
The auto-ancillary
industry is benefiting from structural changes like the fall in interest rates
over the last few years and greater economies of scale due to the large, and the
growing size of the domestic auto industry market size. The Company has taken
up extensive development activity of value added products to improve the
margins by achieving higher volume of sales. The efforts of the Company are
expected to yield favourable results.
Financial Performance:
The Gross Block as
on 30.09.2009 stood at Rs.3646.963 millions and the Net Block as on 30.09.2009
stood at Rs.2017.489 millions.
The deferred tax liability
has been provided in accordance with the requirements of Accounting Standard 22
- Accounting of Taxes on Income, issued by the Institute of Chartered
Accountants of India and the Provision for Fringe Benefit tax was created as
per Income- Tax Act, 1961
Operational Performance:
The Company has
achieved a turnover of Rs.13977.331 millions earning a Profit before tax of Rs.
286.152 millions.
Segment Wise Performance
Light Engineering Components (LEC) Division :
The total turnover
of the Division for the 12 months period ended 30.09.2009 is Rs.128.200 millions, which mainly includes the
turnover of Bearings, Bearing components and other products.
Appliances Division
The total turnover
of the Division for the 12 months period ended 30.09.2009 is Rs.175.900
millions, which mainly includes the turnover of all verities of Fans and Fan
Components and other products.
Steel Products Division
The total turnover
of the Division for the l2 period ended 30.09.2009 is Rs.13673.200 millions, which mainly includes
the turnover of Casting Division, Processing Division and Trading of Steel
products. During the period the export turnover of various products is Rs.
3986.200 millions.
Infrastructure Division
The Company has
plans to undertake construction and developmental activities like integrated
residential townships, commercial buildings and specialized design and
construction of integrated medical college and super specialty hospital etc.,
Fixed Assets:
· Land
· Buildings,
· Plant and Machinery,
· Electrical Installation,
· Office Equipments,
· Testing Equipments,
· Furniture and Fixtures
· Vehicles
· ERP
· Miscellaneous Equipments
AUDITED FINANCIAL
RESULTS FOR THE PERIOD ENDED MARCH 31, 2011
(Rs. in millions)
|
Sr. No. |
Particular |
Unaudited
|
Unaudited
|
Unaudited
|
Unaudited
|
|
|
|
3
months ended 31.03.2011 |
Corresponding
months 3 months ended in the P. Y. 31.03.2010 |
Year
to date figures for current period Ended 31.03.2011 |
Corresponding
18 months period ended on 31.03.2010 |
|
1. |
Gross
Sales / Income |
|
|
|
|
|
|
a. Net Sales / Income from Operations (Net of Excise and Discounts) |
9108.452 |
4805.914 |
38806.238 |
23644.026 |
|
|
b. Other Operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
Total
Income (a+b) |
9108.452 |
4805.914 |
38806.238 |
23644.026 |
|
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
|
a) (Increase) / Decrease in Stock in Trade and Work In
Process |
545.338 |
(450.646) |
(25.461) |
226.574 |
|
|
b) Consumption of Raw Materials (Net) |
4915.516 |
1973.638 |
22148.209 |
6796.749 |
|
|
c) Purchase of Traded Goods |
3277.010 |
2960.457 |
14765.472 |
14784.189 |
|
|
d) Employee Cost |
11.734 |
12.743 |
59.588 |
73.574 |
|
|
e) Depreciation |
68.400 |
67.898 |
409.203 |
387.239 |
|
|
f) Other Expenditure |
131.170 |
72.080 |
502.260 |
548.300 |
|
|
g)
Total Expenditure (a to f) |
8949.168 |
4636.170 |
37859.271 |
22816.625 |
|
|
|
|
|
|
|
|
3. |
Profit From Operations before Other Income, Interest and
Exceptional Items (1-2) |
159.284 |
169.744 |
946.967 |
827.401 |
|
|
|
|
|
|
|
|
4. |
Other Income |
7.324 |
2.445 |
79.490 |
53.449 |
|
|
|
|
|
|
|
|
5. |
Profit Before Interest and Exceptional Items (3+4) |
166.608 |
172.189 |
1026.457 |
880.850 |
|
|
|
|
|
|
|
|
6. |
Interest |
150.022 |
88.220 |
635.523 |
440.195 |
|
|
|
|
|
|
|
|
7. |
Profit After Interest but before Exceptional Items (5-6) |
16.586 |
83.969 |
389.934 |
440.655 |
|
|
|
|
|
|
|
|
8. |
Exceptional Items |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
9. |
Profit from Ordinary Activities before Tax (7+8) |
16.586 |
83.969 |
389.934 |
440.655 |
|
|
|
|
|
|
|
|
10. |
Tax Expense |
0.000 |
31.311 |
121.655 |
107.636 |
|
|
|
|
|
|
|
|
11. |
Net Profit from Ordinary Activities after Tax (9-10) |
16.586 |
52.658 |
268.279 |
333.019 |
|
|
|
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
-- |
-- |
-- |
(29.918) |
|
|
|
|
|
|
|
|
13. |
Net Profit for the period (11-12) |
16.586 |
52.658 |
268.279 |
303.101 |
|
|
|
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
1388.411 |
1303.411 |
1388.411 |
1303.411 |
|
|
|
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
16. |
Basic
and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised |
|
|
|
|
|
|
a) Basic and diluted EPS before extraordinary items |
0.12 |
0.40 |
1.93 |
2.55 |
|
|
b) Basic and diluted EPS after extraordinary items |
0.12 |
0.40 |
1.93 |
2.33 |
|
|
|
|
|
|
|
|
17. |
Public
Shareholding |
|
|
|
|
|
|
-Number of Shares |
104953430 |
104953330 |
104953430 |
10495330 |
|
|
- Percentage of Shareholding |
75.60 |
80.52 |
75.60 |
80.52 |
|
|
|
|
|
|
|
|
18. |
Promoters
and Promoter Group Shareholding |
|
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
|
- Number of Shares |
3989307 |
10959100 |
3989307 |
10959100 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
11.77 |
43.17 |
11.77 |
43.17 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
2.87 |
8.41 |
2.87 |
8.41 |
|
|
|
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
|
|
|
- Number of Shares |
29898335 |
14428542 |
29898335 |
14428542 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
88.23 |
56.83 |
88.23 |
56.83 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
21.53 |
11.07 |
21.53 |
11.07 |
Notes :
1. The above Unaudited Financial Results for the 6th quarter ended
31.03.2011 were approved in the Board Meeting held on 14.05.2011
2. The number of investor complaints pending at the beginning of the quarter
– Nil, received and disposed during the quarter -5 and lying un-resolved at the
end of the quarter – Nil.
3. The financial year 2009-10 of the Company has been extended up to
31.03.2011 and therefore the financial year (i.e.2009-2011) of the Company is
consisting of 18 months from 01.10.2009 to 31.03.2011. The Company had obtained
necessary approvals accordingly.
4. Public shareholding of 104953430 equity shares for the quarter ended
31.03.2011 includes 41500000 equity shares held in the form of Global
Depository Receipts by custodians, in terms of clause 40A of the listing
agreement.
5. In order to the derive 18 months results, the audited numbers for the
year ended 30.09.2009 and the unaudited results for the 6 months period ended
31.03.2010 have been considered.
WEB SIDE DETAILS
PROFILE
Business of the Company
a)
Brief history about the Company:
Subject was incorporated in August, 1986 under the name of M/s. Sujana
Domestic Appliances Limited and obtained the Certificate of Commencement of
Business in January, 1987. The Company was incorporated with an object to
manufacture fans, washing machines and other domestic appliances. The Company
was promoted by Mr. Y. Satyanarayana Chowdary, Mr. Y Jithin Kumar and their
relatives. The name of the Company was changed to "Sujana Industries
Limited" in October, 1990. The Company started manufacturing of ceiling
fans in early 1987 and introduced them in the market in July 1987 under the
Brand name "PADMINI". In the year 2003, the Company changed
its name from "Sujana Industries Limited" to "Sujana
Universal Industries Limited" (herein after referred to as SUIL/THE
COMPANY).
The Company flagged of a new project involving the establishment of two
divisions, viz., (i) Castings division with an annual capacity of 10,000 tons
and (ii) Bearings division with an Annual Production Capacity of 15,00,000 nos.
as a measure of backward integration for the existing manufacture of fans. This
new project was already completed in 1989-90.
The Bearing Division of the Company has been awarded ISO 9002
Certification during 1999-2000 for implementing quality systems as per International
Standards by M/s Underwriter Laboratories Inc. USA.
b)
Activities carried on by the Company:
The Company has the following four divisions:
i)
Domestic
Appliances Division:
The Division, with installed capacity of 7.18 lacs no. of fans,
manufacturing "Padmini" ceiling fan and "Zephyre" designer
fan, the two popular products of the Company are among the largest selling
ceiling fans in South India with a sizeable market share. They have significant
presence also in other countries. Padmini fans are approved by Central Power
Research Institute, Bangalore after testing for superiority in air delivery,
speed, power consumption, regulator strength, etc. as per IS: 374-1979. The
success of 'Padmini' and 'Zephyre' in Domestic and International Markets
inspired SUIL to enter into other domestic appliances like exhaust, table and
pedestal fans, electric irons, immersion heaters, juice-mixer grinders, air
coolers, air-conditioners, refrigerators, room heaters, etc. This division is
situated at Plot No.1B, Survey No. 308, Sri Venkateswara Co-Operative
Industrial Estate, Jeedimetla, Hyderabad – 500 055.
ii)
Light Engineering
Division
High quality ball and taper roller bearings are manufactured with the
latest technology on machines imported from Bryant and Capital Cincinnati, USA;
Izumi, Japan; and BWF, Germany. Stringent on-line tests at all stages ensure
the best quality. With the result in rise in demand, SUIL has increased its
capacity to 10 million ball and taper roller bearings per annum
SUIL is now geared to enter newer Original Equipment Manufacturers (OEM)
and replacement markets. In 1999, the Company was awarded ISO 9002
certification by UL, USA and its products are accredited by SGS India, a
National Certification Agency. SUIL is also envisaging the introduction of
value-added products like pump assemblies, clutch release bearings, textile and
automobile spindles, etc. This division is situated at Plot Nos 10, 11 and 12,
Survey No.172, Bollaram Village, Jinnaram Mandal, Medak District, Andhra
Pradesh.
iii)
Steel Products
Division
The Castings Division with two induction furnaces of installed capacity
of 50,000 TPA manufactures 2,500 MTs of Alloy Cast Iron, 600 MTs of Mechanize
Castings and 1,500 MTs Ductile Castings. This division also manufactures
special cast iron and is used by Sujana Metal Products Limited to produce
octagonal bars. This division is situated at Plot No.128/A, I.D.A. Bollaram,
Jinnaram Mandal, Medak District, Andhra Pradesh.
iv)
Infrastructure
Division
The Company has plans to undertake construction and developmental
activities like integrated residential townships, commercial buildings and
specialized design and construction of integrated medical college and super
specialty hospital etc.,
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.45.05 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.64.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.