MIRA
INFORM REPORT
|
Report Date : |
26.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
VALUE INDUSTRIES
LIMITED |
|
|
|
|
Formerly Known As : |
VIDEOCON APPLIANCE LIMITED |
|
|
|
|
Registered Office : |
14 KM Stone, Taluka Paithan, Chittegaon, |
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|
|
|
Financials (as on) : |
30.09.2009 |
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|
|
|
Date of Incorporation : |
08.03.1988 |
|
|
|
|
Com. Reg. No.: |
11-46445 |
|
|
|
|
CIN No.: [Company
Identification No.] |
L99999MH1988PLC046445 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV09538E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACV2299K |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s shares
are listed on the Stock Exchanges. |
|
|
|
|
Line of Business : |
Manufacturing and marketing of Electrical and Electronic
Appliances such as Air Conditioners, Refrigerators, Programmable Washing
Machines and Assemblies and Sub-Assemblies. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
RATING
|
STATUS |
PROPOSED
CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 17000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of Videocon Group. The group is controlled and financed by Dhoot family. It is a well established company having satisfactory track. Trade relations are reported as fair. General financial position is satisfactory. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings
at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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/ Factory
Office : |
14 KM Stone, Taluka Paithan, Chittegaon, |
|
Tel. No.: |
91-2431-251501 |
|
Fax No.: |
91-2431-251551 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Administrative Office : |
171, Mittal Court, “C” Wing, Nariman Point, Mumbai – 400
021, |
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|
|
|
Factory : |
15 KM Stone, Taluka Paithan, Chittegaon, |
DIRECTORS
As on 30.03.2010
|
Name : |
Mr. Venugopal N Dhoot |
|
Designation : |
Director |
|
Address : |
90, Manav Mandir, |
|
Date of Birth/Age : |
30.09.1951 |
|
Qualification : |
BE Mechanical |
|
Date of Appointment : |
30.12.1988 |
|
|
|
|
Name : |
Mr. Naveen B. Mandhana |
|
Designation : |
Director |
|
Address : |
907-908/A, Akruti Nova, Saiwadi, Opposite Teli Galli,
Andheri (East), Mumbai – 400069, |
|
Date of Birth/Age : |
18.11.1956 |
|
Date of Appointment : |
08.03.1988 |
|
|
|
|
Name : |
Mr. Pradipkumar N. Dhoot |
|
Designation : |
Director |
|
Address : |
99, Videocon House, Manav Mandir, |
|
Date of Birth/Age : |
22.03.1960 |
|
Date of Appointment : |
22.08.1996 |
|
|
|
|
Name : |
Mr. Avinash Malpani |
|
Designation : |
Director |
|
Address : |
50B, 2nd Floor, |
|
Date of Birth/Age : |
15.09.1950 |
|
Date of Appointment : |
30.09.1996 |
|
|
|
|
Name : |
Ms. Nisha Khandelwal |
|
Designation : |
Director |
|
Address : |
6, 1, Ruwal park, Near Market Yard Depot, Pune – 411037, |
|
Date of Birth/Age : |
10.09.1986 |
|
Date of Appointment : |
13.03.2010 |
|
|
|
|
Name : |
Mr. Subhash S. Dayama |
|
Designation : |
Director |
|
Address : |
Sukharta Society, |
|
Date of Birth/Age : |
05.05.1961 |
|
Date of Appointment : |
08.12.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Hiren N. Shah |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,230,205 |
5.69 |
|
|
16,091,201 |
41.06 |
|
|
18,321,406 |
46.76 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
18,321,406 |
46.76 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
14,276 |
0.04 |
|
|
6,325 |
0.02 |
|
|
944,756 |
2.41 |
|
|
1,025 |
- |
|
|
147,686 |
0.38 |
|
|
147,686 |
0.38 |
|
|
1,114,068 |
2.84 |
|
|
|
|
|
|
3,118,626 |
7.96 |
|
|
|
|
|
|
13,095,642 |
33.42 |
|
|
3,535,933 |
9.02 |
|
|
19,750,201 |
50.40 |
|
Total
Public shareholding (B) |
20,864,269 |
53.24 |
|
Total
(A)+(B) |
39,185,675 |
100.00 |
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total
(A)+(B)+(C) |
39,185,675 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Non Resident Indians|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.31 |
|
Bodies corporate |
50.07 |
|
Directors or relatives of Directors |
5.66 |
|
Other top fifty shareholders |
6.67 |
|
Public Financial Companies |
2.44 |
|
Nationalised or Other Banks |
0.02 |
|
Mutual Funds |
0.01 |
|
Others |
34.82 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and marketing of Electrical and Electronic
Appliances such as Air Conditioners, Refrigerators, Programmable Washing
Machines and Assemblies and Sub-Assemblies. |
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Products : |
|
GENERAL INFORMATION
|
Suppliers : |
Ř Abhijeet
Dies and Tools Private Limited Ř Anil Polymer Private Limited Ř
Ř Arvind Mechnanical and Electrical Engineers Private Limited Ř Durga and Sons Private Limited Ř Cast All Technologies Private Limited Ř Delstar Private Limited Ř Dhoot Transmission Private Limited Ř Har Hal Plastic Engineering Private Limited Ř Ellora Gases Private Limited Ř Harness Cable Connector Private Limited Ř Hydero Controls Specialities Private Limited Ř Machhar Packaging Services Private Limited Ř Mangalam Coils Private Limited Ř
Monarch Self Adhesive Tapes ( Ř Oracle Electronics and Engineering Private Limited Ř Siddhant Pressing Private Limited Ř Silverline Metal Engineering Private Limited Ř Surya Spring Private Limited Ř Blue Star Engineers Ř Vivel Poly Products Ř Zenith Metaplast Private Limited Ř Ganesh Plasto Industries Ř Star Krupa Ř S.V.S. Wire Private Limited Ř Able Moulders Ř Akshay Flexi Hoses Ř Laxmi Plasto |
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No. of Employees : |
2000 (Approximately) |
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Bankers : |
Ř Indian
Bank, Mittal Tower, B-Wing, 210, Nariman Point, Mumbai – 400021, Ř Central Bank of India, Nariman Point Branch, Chander Mukhi, Nariman Point, Mumbai – 400021, Maharashtra, India Ř Allahabad Bank Ř Punjab National Bank Ř HDFC Bank Limited Ř IndusInd Bank Limited Ř Axis Bank Limited Ř
State Bank of Ř
Bank of Ř
State Bank of Ř
State Bank of Ř The Federal Bank Limited Ř The Dhanalakshmi Bank Limited Ř
UCO Bank Ř
State Bank of |
||||||||||||||||||||||||||||||
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|
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Facilities : |
Notes: A. Non Convertible Debentures The
Debentures are secured by first mortgage and charge on immovable and movable
properties, both present and future, subject to prior charge on specified movables
created/to be created in favour of Company’s Bankers for securing borrowings
for working capital requirements and excluding equipments charged to
Financial Institutions for their equipment finance, ranking pari passu with the charge
created and/or to be created in favour of Financial Institutions/Banks in
respect of their existing and future financial assistance. The
Debentures referred above are redeemable at par in one or more installments
on various dates with the earliest redemption being on 1st October, 2009 and
last date being 1st April, 2012. The debentures are redeemable as follows:
Rs. 16.37 million in financial year 2009-10, Rs. 21.83 million in financial
year 2010-11 and Rs. 16.13 million in financial year 2011-12. B. Rupee Term Loans from Banks
and Financial Institutions Rupee
Loans from Banks and Financial Institutions are secured by mortgage and
charge on the immovable and movable properties, both present and future
(subject to the charges created and/or to be created in favour of bankers on
specified movables/current assets for securing borrowings for working capital
requirements), ranking pari passu
with the charges created and/or to be created in favour of other
lenders and guaranteed by Mr. Venugopal N. Dhoot and Mr. Pradipkumar N.
Dhoot. C. External Commercial
Borrowing External
Commercial Borrowing are secured by a first charge ranking pari passu on the movable
and immovable fixed assets. The loan is further secured by corporate
guarantee given by Videocon Industries Limited. D. Working Capital Loans from
Banks The
Working Capital Loans from Banks are secured by hypothecation of inventories,
book-debts and other receivables, both present and future. |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
Ř Khandelwal
Jain and Company Chartered Accountants Address: 12-B,
Baldota Bhavan, 117, Ř Kadam and Company Chartered Accountants Address: Vedant
8/9, Viraj Estate, Opposite Tarakpur Bus Stand, Ahmednagar – 414003, |
|
|
|
|
Associates/Subsidiaries : |
Ř Videocon
Exports Limited Ř Videocon Petroleum Limited Ř Videocon Industrial Finance Limited Ř Videocon Housing Finance Limited Ř Videocon Properties Limited Ř Videocon International Limited Ř Videocon International Ř Applicomp India Limited Ř Holzmann Videocon Engineers Limited Ř Ahmednagar Electronics Private Limited Ř Cosmic Stereo Electronics Private Limited Ř Indian Refrigerator Company Limited Ř
Kitchen Appliances ( Ř Rajkumar Engineering Private Limited |
|
|
|
|
Membership : |
Confederation of Indian Industry |
CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 millions |
|
7500000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.750.000 millions |
|
|
Total |
|
Rs.1300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
39185675 |
Equity Shares |
Rs.10/- each |
Rs.391.857 millions |
|
307731 |
8% Cumulative Redeemable Preference Shares |
Rs.40/- each |
Rs.12.309 millions |
|
|
Total |
|
Rs.404.166 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2009 |
30.09.2008 |
30.09.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
404.170 |
410.600 |
355.380 |
|
|
2] Share Capital Suspense |
0.000 |
0.000 |
61.380 |
|
|
3] Reserves & Surplus |
4071.620 |
4083.950 |
4048.050 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4475.790 |
4494.550 |
4464.810 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7304.660 |
5103.010 |
4760.020 |
|
|
2] Unsecured Loans |
1000.000 |
1500.000 |
3654.350 |
|
|
TOTAL BORROWING |
8304.660 |
6603.010 |
8414.370 |
|
|
DEFERRED TAX LIABILITIES |
924.890 |
912.500 |
884.560 |
|
|
Grant from Ozone Projects Trust Fund |
21.190 |
26.410 |
32.930 |
|
|
|
|
|
|
|
|
TOTAL |
13726.530 |
12036.470 |
13796.670 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7906.660 |
6544.950 |
7873.860 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
561.010 |
504.290 |
399.440 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3629.590
|
3452.960 |
3332.800
|
|
|
Sundry Debtors |
2414.690
|
2542.060 |
2757.640
|
|
|
Cash & Bank Balances |
98.980
|
108.990 |
138.520
|
|
|
Other Current Assets |
1.880
|
10.970 |
13.450
|
|
|
Loans & Advances |
561.130
|
636.960 |
930.920
|
|
Total
Current Assets |
6706.270
|
6751.940 |
7173.330 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
1349.130
|
1719.310 |
1595.560
|
|
|
Provisions |
98.280
|
45.400 |
54.400
|
|
Total
Current Liabilities |
1447.410
|
1764.710 |
1649.960
|
|
|
Net Current Assets |
5258.860
|
4987.230 |
5523.370
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
13726.530 |
12036.470 |
13796.670 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2009 |
30.09.2008 |
30.09.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12041.780 |
12446.800 |
12914.830 |
|
|
|
Other Income |
29.050 |
16.330 |
266.090 |
|
|
|
TOTAL (A) |
12070.830 |
12463.130 |
13180.920 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
9966.730 |
10174.580 |
10702.960 |
|
|
|
Manufacturing Expenses |
431.350 |
634.110 |
552.020 |
|
|
|
Salaries, Wages, Bonus, etc. |
207.740 |
179.320 |
200.710 |
|
|
|
Impairment Loss |
0.000 |
16.310 |
40.060 |
|
|
|
TOTAL (B) |
10605.820 |
11004.320 |
11495.750 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1465.010 |
1458.810 |
1685.170 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
588.190 |
549.500 |
542.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
876.820 |
909.310 |
1142.580 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
802.070 |
786.440 |
846.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
74.750 |
122.870 |
295.770 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
25.340 |
42.790 |
168.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
49.410 |
80.080 |
127.570 |
|
|
|
|
|
|
|
|
|
Less |
Income Tax for
earlier years |
1.350 |
0.050 |
NA |
|
|
|
|
|
|
|
|
|
Add |
Transferred from
Debenture Redemption Reserve |
13.700 |
44.200 |
NA |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
760.610 |
687.540 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.000 |
20.000 |
NA |
|
|
|
Transfer to Capital Redemption Reserve |
6.160 |
6.150 |
NA |
|
|
|
Tax on Dividend |
6.870 |
3.630 |
NA |
|
|
|
Proposed Dividend – Equity |
39.190 |
19.660 |
NA |
|
|
|
Proposed Dividend – Preference |
1.230 |
1.720 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
763.920 |
760.610 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1005.280 |
779.140 |
745.880 |
|
|
|
Capital Goods |
2.620 |
74.280 |
1.830 |
|
|
TOTAL IMPORTS |
1007.900 |
853.420 |
747.710 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.19 |
1.98 |
-- |
|
QUARTERLY RESULTS
|
PARTICULARS |
31.03.2010 |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Net Sales |
3421.900 |
3557.100 |
3618.300 |
3655.600 |
|
Total Expenditure |
3038.300 |
3156.100 |
3215.400 |
3252.600 |
|
PBIDT (Excl OI) |
383.600 |
401.000 |
402.900 |
403.000 |
|
Other Income |
18.600 |
13.900 |
12.000 |
10.200 |
|
Operating Profit |
402.200 |
414.900 |
414.900 |
413.200 |
|
Interest |
163.400 |
161.200 |
159.100 |
150.400 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
238.800 |
253.700 |
255.800 |
262.800 |
|
Depreciation |
192.500 |
193.300 |
194.700 |
210.900 |
|
Profit Before Tax |
46.300 |
60.400 |
61.100 |
51.900 |
|
Tax |
15.000 |
20.000 |
20.000 |
15.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
31.300 |
40.400 |
41.100 |
36.900 |
|
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 |
31.300 |
40.400 |
41.100 |
36.900 |
KEY RATIOS
|
PARTICULARS |
|
30.09.2009 |
30.09.2008 |
30.09.2007 |
|
PAT / Total Income |
(%) |
0.41
|
0.64 |
0.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.62
|
0.99 |
2.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.51
|
0.92 |
1.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.03 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.18
|
1.86 |
2.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.63
|
3.83 |
4.35 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
Promoted by the Dhoot family, the company is one of the leaders
of the Videocon group. Commencing business with colour television sets in 1982,
the company now manufactures and markets a wide range of products like light
dimmers, solid state fan regulators, musical door bells/chimes, voltage
stabilisers, emergency lamps and quartz clocks under the Rider brand name. The
group's flagship company first went public in Oct.'87 and the issue was
over-subscribed by 27 times. The group has wide ranging interest in trading,
investment and manufacturing.
Enthused by the market response for their products and acknowledging the
need for indigenisation, the company undertook a major
expansion-cum-diversification programme in 1989, to manufacture color TVs,
BandW picture tubes, major electronic components and audio systems. Washing
machines, refrigerators, airconditioners, vacuum cleaners, bread-making
machines and motors, are the other items in their list of products. To raise
capital for this diversification programme, the company visited the capital
market once again in Sep.'91 with a debenture issue.
The company has collaborations with two Japanese companies -- Matsushita
and Toshiba. It is also the first company in the electronics industry to go for
an Euro-issue. The $90-mln GDR issue attracted investor support from the
The company has installed New Capacitor Banks to improve the power factor
resulting in reduction in energy consumption. The company is developing and
planning to introduce more auotmated products and new models and varieties of
washing machines with advanced features in the coming days.
FINANCIAL
RESULTS:
During the first and second
quarter of the financial year, the global recession and economic slow-down in
India impacted the turnover and profit of the Company Total Income of the
Company during the year declined to Rs.12070.83 million as against Rs.12463.13
million for the previous year ended 30th September, 2008 and the profit after
tax also declined to Rs.49.41 million as against Rs.80.08 million for the last
year.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 31.12.2010
|
Particulars |
31.12.2010 Quarter Ended |
31.12.2010 15 Months Ended |
|
Income |
|
|
|
a) Net Sales / Income from Operations |
3655.600 |
17639.200 |
|
b) Other Operating Income |
0.000 |
0.000 |
|
Total Operating Income |
3655.600 |
17639.200 |
|
Expenditure |
|
|
|
(a) (Increase)/decrease in Stock in Trade |
(5.400) |
(48.600) |
|
(b) Consumption of Raw Materials |
1835.900 |
8917.000 |
|
(c) Purchase of traded goods |
1132.200 |
5391.100 |
|
(d) Employees Cost |
50.200 |
265.000 |
|
(e) Depreciation |
210.900 |
990.100 |
|
(f) Other Expenditure |
239.700 |
1129.900 |
|
Total Expenditure |
3471.500 |
16645.300 |
|
Profit / (Loss) From Operations before other Income Interest & Exceptional Items |
184.100 |
993.900 |
|
Other Income |
10.200 |
66.600 |
|
Profit/(Loss) before Interest and Exceptional items |
202.300 |
1060.500 |
|
Interest |
150.400 |
5.600 |
|
Profit / (Loss) after interest before Exceptional items |
51.900 |
254.900 |
|
Exceptional Items |
0.000 |
0.000 |
|
Profit / (Loss) From
Ordinary activities before Tax |
51.900 |
254.900 |
|
Provision for Taxation |
15.000 |
80.000 |
|
Net Profit/(Loss) From Ordinary activities after Tax |
36.900 |
174.900 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Net Profit/(Loss) for the period |
36.900 |
174.900 |
|
Paid Up Equity Share Capital ( Face Value of the share Rs.10/- each ) |
391.900 |
391.900 |
|
Reserves (Excluding Revaluation Reserves) |
0.000 |
0.000 |
|
Earning Per Share |
|
|
|
Before
Extraordinary Items |
|
|
|
-Basic |
0.94 |
4.46 |
|
-Diluted |
0.94 |
4.46 |
|
After Extraordinary Items |
|
|
|
-Basic |
0.94 |
4.46 |
|
-Diluted |
0.94 |
4.46 |
|
Public Share Holding |
|
|
|
- Number of Shares |
20064269 |
20064269 |
|
- Percentage of shareholding |
53.24 |
53.24 |
|
Promoters and Promoter group share holding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of Shares |
1349150 |
1349150 |
|
- Percentage of share (as a % of the total shareholding of promoter and promoter group) |
7.36 |
7.36 |
|
- Percentage of shares(as a % of the total share capital of the company) |
3.44 |
3.44 |
|
b) Non-encumbered |
|
|
|
- Number of Shares |
16972256 |
16972256 |
|
- Percentage of Share (as a % of the total shareholding of promoter and promoter group) |
92.64 |
92.64 |
|
- Percentage of Share (as a % of the total share capital of the company) |
43.31 |
43.31 |
Notes
:
- The Statutory
Auditors have carried out limited review or the above results end the same
have been reviewed by the Audit Committee and taken on record by the Board
of Directors at its meeting held on 14th February 2011.
- The current
accounting year of the Company has been extended by a perio4 of 3 (Three)
months. As such, the current accounting year is for a period of 15
(Fifteen) months beginning from 01st October, 2009 and ended on 31st
December, 2010. The subsequent accounting years, as such, has begun on 01st
January, 2011 and will end on 31st December every year.
- Tax Expenses
includes Provision for Current Tax and Deferred Tax.
- The Company
has only one segment via. ‘Consumer electronics and components/parts
thereat as per Accounting Standard on Segment Reporting (AS) 17 of ICAI.
- During the
quarter ended 31st December 2010, 66 Investors complaints were received
and resolved. There were no investor complaints pending at the beginning
of the quarter and at the end of the quarter.
- The figures
hive been regrouped wherever necessary.
FORM 8
:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
L99999MH1988PLC046445 |
|
Name of the
company |
VALUE INDUSTRIES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
14 KM Stone, Taluka Paithan, Chittegaon, |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Central Bank of India, Nariman Point Branch, Chander Mukhi, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of entry
– mortgage by deposit of title deeds by way of constructive delivery. |
|
Date of
instrument Creating the charge |
25.09.2009 |
|
Amount secured by
the charge |
Rs.2500.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: BPLR + 0.25%
Payable monthly with annual reset. Terms of
Repayment : 20 equal
quarterly installments (5 years) with no moratorium. Repayment will start immediately
from the next quarter from the date of disbursement. Extent and
Operation of the charge : First pari passu
mortgage change on the property of the company situated at 15 K.M. stone, |
|
Short particulars
of the property charged |
First pari passu
charge - on the immovable properties of the company situated at village
Pangara, Taluka Paithan, Dist. Aurangabad in the state of Maharashtra mortgage by deposit of title deeds by way
of constructive delivery, together with all buildings and structures thereon
and all plant and machinery attached to the earth or permanently fastened to
any thing attached to the earth both present and future. The company deposited the title deeds with
ICICI bank and ICICI bank is acting as agent of central bank of |
Fixed Assets :
Ř
Ř Building
Ř Plant and Machinery
Ř Electrical Installations
Ř Computer
Ř Furniture and Fixtures
Ř Office Equipments
Ř Vehicles
WEBSITE DETAILS:
About Videocon Appliances
Videocon deems it a privilege that it is in a position to prolong instances of
joy and spirit. And lend much needed variety and flair in everyone's life.
An Indian multinational, a global force in display technologies and a
group on the threshold of even bigger things.
There are new horizons to breach, new
frontiers to conquer and simply no pause buttons on the Videocon play. Expect
the unexpected, the uncharted and the unlimited. Keep watching.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.