%20PLC%20-%20159393%2007-Nov-2011_files/image002.jpg){kind=small}
MIRA INFORM REPORT
|
Report Date : |
07.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
POLY PRODUCTS (NIGERIA) PLC |
|
|
|
|
Registered Office : |
Poly House, Plot C, Block 10, Ilupeju Industrial Scheme, Oworonshoki/Oshodi Expressway, Ilupeju,P. O. Box 3511, Lagos |
|
|
|
|
Country : |
Nigeria |
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Legal Form : |
Public Independent Company |
|
|
|
|
Line of Business : |
Manufacturing of polyethylene products |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Nigeria |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Poly Products (Nigeria) Plc
Poly House, Plot C, Block 10
Ilupeju Industrial Scheme
Oworonshoki/Oshodi Expressway
Ilupeju,P. O. Box 3511, Lagos,
Nigeria
Tel: 234-01-4975597
Fax: 234-01-4975881
Synthesis
Employees: 211
Company Type: Public Independent
Traded: Nigerian
Stock Exchange: POLYPROD
Auditor: Akintola Williams Deloitte
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2010
Reporting Currency: Nigerian
Naira
Annual Sales: 13.9
1
Net Income: 0.4
Total Assets:
7.0 2
Market Value: 1.6
(02-Sep-2011)
Business Description
Poly Products
(Nigeria) Plc is a Nigeria-based company active in the packaging industry. The
Company is primarily engaged in the manufacturing of polyethylene products. For
the nine months ended 31 December 2010, Poly Products (Nigeria) Plc's revenues
increased 3% to NGN1.79B. Net income increased 31% to NGN40.81M. Poly Products
(Nigeria) Plc is a Nigeria based company active in the packaging industry, the
business activity of the company include the manufacturing of both high and low
density polethylene sheeting and rolls, plain and stripes, wide-width film,
stretch film, ect.
Industry
Industry Containers and Packaging
ANZSIC 2006: 1522 - Paper Bag
Manufacturing
NACE 2002: 2522 - Manufacture
of plastic packing goods
NAICS 2002: 326111 - Plastics
Bag Manufacturing
UK SIC 2003: 2522 - Manufacture
of plastic packing goods
US SIC 1987: 2673 - Plastics,
Foil, and Coated Paper Bags
Key Executives
|
Name |
Title |
|
Nari Siroomal Gwalani |
Managing Director, Director |
|
J. Akin George |
Chairman of the Board |
|
Martins Ololade Fagbule |
Director |
|
Kiran Rupchand Jhangiani |
Director |
|
Michael Louis Murray-Bruce |
Director |
Financial Summary
|
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = NGN 150.4491
2 - Balance Sheet Item Exchange Rate: USD 1 = NGN 149.95
Corporate Overview
Location
Poly House, Plot C, Block 10
Ilupeju Industrial Scheme
Oworonshoki/Oshodi Expressway
Ilupeju,P. O. Box 3511, Lagos, Nigeria
Tel: 234-01-4975597
Fax: 234-01-4975881
Quote Symbol - Exchange
POLYPROD -
Nigerian Stock Exchange
Sales NGN(mil): 2,096.0
Assets NGN(mil): 1,047.0
Employees: 211
Fiscal Year End: 31-Mar-2010
Industry: Containers
and Packaging
Company Type: Public
Independent
Quoted Status: Quoted
Managing Director,
Director: Nari
Siroomal Gwalani
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1522 - Paper Bag Manufacturing
NACE 2002 Codes:
2522 - Manufacture of plastic packing goods
NAICS 2002 Codes:
326111 - Plastics Bag Manufacturing
US SIC 1987:
2673 - Plastics, Foil, and Coated Paper Bags
UK SIC 2003:
2522 - Manufacture of plastic packing goods
Business
Description
Poly Products
(Nigeria) Plc is a Nigeria-based company active in the packaging industry. The
Company is primarily engaged in the manufacturing of polyethylene products. For
the nine months ended 31 December 2010, Poly Products (Nigeria) Plc's revenues
increased 3% to NGN1.79B. Net income increased 31% to NGN40.81M. Poly Products
(Nigeria) Plc is a Nigeria based company active in the packaging industry, the
business activity of the company include the manufacturing of both high and low
density polethylene sheeting and rolls, plain and stripes, wide-width film,
stretch film, etc.
|
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%20PLC%20-%20159393%2007-Nov-2011_files/image003.gif){kind=small}
Exeuctive report
|
Board
of Directors |
|
|
|
|
|||
|
Chairman of the Board |
Chairman |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Managing Director, Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|||
|
Director |
Director/Board Member |
|
|
Executives |
|
|
|
|
||||
|
Managing Director, Director |
Managing Director |
|
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
150.449123 |
126.479836 |
123.052105 |
131.90608 |
133.585205 |
|
Auditor |
|
|
|
Akintola Williams
Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
Revenue |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
Total Revenue |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
- |
- |
- |
9.3 |
8.3 |
|
Cost of Revenue, Total |
- |
- |
- |
9.3 |
8.3 |
|
Gross Profit |
- |
16.6 |
13.8 |
2.1 |
2.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
- |
- |
- |
1.5 |
1.8 |
|
Total Selling/General/Administrative Expenses |
- |
- |
- |
1.5 |
1.8 |
|
Other Operating Expense |
- |
16.0 |
13.5 |
- |
- |
|
Other, Net |
- |
- |
- |
-0.1 |
-0.1 |
|
Other Operating Expenses, Total |
- |
16.0 |
13.5 |
-0.1 |
-0.1 |
|
Total Operating Expense |
- |
16.0 |
13.5 |
10.8 |
10.1 |
|
|
|
|
|
|
|
|
Operating Income |
- |
0.6 |
0.2 |
0.6 |
0.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
- |
- |
- |
-0.5 |
-0.4 |
|
Interest Expense, Net Non-Operating |
- |
- |
- |
-0.5 |
-0.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
- |
- |
- |
-0.5 |
-0.4 |
|
Income Before Tax |
- |
0.6 |
0.2 |
0.1 |
0.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
- |
0.2 |
0.1 |
0.1 |
0.1 |
|
Income After Tax |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
Net Income |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
- |
240.0 |
240.0 |
240.0 |
240.0 |
|
Basic EPS Excl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Dilution Adjustment |
- |
- |
- |
- |
0.0 |
|
Diluted Net Income |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
Diluted Weighted Average Shares |
- |
240.0 |
240.0 |
240.0 |
240.0 |
|
Diluted EPS Excl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Diluted EPS Incl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Dividends per Share - Common Stock Primary Issue |
- |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
- |
- |
- |
0.5 |
0.4 |
|
Depreciation, Supplemental |
- |
- |
- |
0.4 |
0.5 |
|
Total Special Items |
- |
- |
- |
0.0 |
0.1 |
|
Normalized Income Before Tax |
- |
0.6 |
0.2 |
0.1 |
0.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
- |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
- |
0.2 |
0.1 |
0.1 |
0.1 |
|
Normalized Income After Tax |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
- |
0.00 |
0.00 |
- |
- |
|
Diluted Normalized EPS |
- |
0.00 |
0.00 |
- |
- |
|
Rental Expenses |
- |
- |
- |
0.3 |
0.5 |
|
Normalized EBIT |
- |
0.6 |
0.2 |
0.6 |
0.5 |
|
Normalized EBITDA |
- |
0.6 |
0.2 |
1.0 |
0.9 |
|
Current Tax - Domestic |
- |
- |
- |
0.0 |
0.0 |
|
Current Tax - Total |
- |
- |
- |
0.0 |
0.0 |
|
Deferred Tax - Domestic |
- |
- |
- |
0.1 |
0.0 |
|
Deferred Tax - Total |
- |
- |
- |
0.1 |
0.0 |
|
Other Tax |
- |
- |
- |
0.0 |
0.0 |
|
Income Tax - Total |
- |
- |
- |
0.1 |
0.1 |
|
Defined Contribution Expense - Domestic |
- |
- |
- |
0.2 |
0.2 |
|
Total Pension Expense |
- |
- |
- |
0.2 |
0.2 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate |
149.95 |
148.1 |
117.065 |
128.15 |
132.9 |
|
Auditor |
|
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
- |
- |
- |
0.1 |
0.0 |
|
Cash and Short Term Investments |
- |
- |
- |
0.1 |
0.0 |
|
Accounts Receivable -
Trade, Gross |
- |
- |
- |
1.6 |
1.2 |
|
Provision for Doubtful
Accounts |
- |
- |
- |
-0.2 |
0.0 |
|
Trade Accounts Receivable - Net |
- |
- |
- |
1.4 |
1.2 |
|
Other Receivables |
- |
- |
- |
0.4 |
0.8 |
|
Total Receivables, Net |
- |
- |
- |
1.8 |
2.0 |
|
Inventories - Finished Goods |
- |
- |
- |
0.7 |
0.5 |
|
Inventories - Work In Progress |
- |
- |
- |
0.2 |
0.2 |
|
Inventories - Raw Materials |
- |
- |
- |
1.7 |
0.7 |
|
Inventories - Other |
- |
- |
- |
0.2 |
0.4 |
|
Total Inventory |
- |
- |
- |
2.8 |
1.8 |
|
Prepaid Expenses |
- |
- |
- |
0.0 |
0.0 |
|
Total Current Assets |
- |
- |
- |
4.8 |
3.8 |
|
|
|
|
|
|
|
|
Buildings |
- |
- |
- |
0.9 |
0.8 |
|
Machinery/Equipment |
- |
- |
- |
5.8 |
5.3 |
|
Property/Plant/Equipment - Gross |
- |
- |
- |
6.7 |
6.1 |
|
Accumulated Depreciation |
- |
- |
- |
-3.3 |
-2.9 |
|
Property/Plant/Equipment - Net |
- |
- |
- |
3.4 |
3.3 |
|
Total Assets |
- |
- |
- |
8.2 |
7.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
- |
- |
- |
2.7 |
1.9 |
|
Payable/Accrued |
- |
- |
- |
0.7 |
1.1 |
|
Notes Payable/Short Term Debt |
- |
- |
- |
1.7 |
1.4 |
|
Dividends Payable |
- |
- |
- |
0.0 |
0.0 |
|
Income Taxes Payable |
- |
- |
- |
0.0 |
0.1 |
|
Other Current liabilities, Total |
- |
- |
- |
0.0 |
0.1 |
|
Total Current Liabilities |
- |
- |
- |
5.1 |
4.6 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
- |
0.6 |
0.3 |
|
Total Long Term Debt |
- |
- |
- |
0.6 |
0.3 |
|
Total Debt |
- |
- |
- |
2.3 |
1.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
- |
- |
0.4 |
0.3 |
|
Deferred Income Tax |
- |
- |
- |
0.4 |
0.3 |
|
Pension Benefits - Underfunded |
- |
- |
- |
0.2 |
0.1 |
|
Other Liabilities, Total |
- |
- |
- |
0.2 |
0.1 |
|
Total Liabilities |
- |
- |
- |
6.3 |
5.3 |
|
|
|
|
|
|
|
|
Common Stock |
- |
- |
- |
0.9 |
0.9 |
|
Common Stock |
- |
- |
- |
0.9 |
0.9 |
|
Additional Paid-In Capital |
- |
- |
- |
0.8 |
0.8 |
|
Retained Earnings (Accumulated Deficit) |
- |
- |
- |
0.1 |
0.1 |
|
Total Equity |
- |
- |
- |
1.9 |
1.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
- |
- |
- |
8.2 |
7.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
- |
- |
- |
240.0 |
240.0 |
|
Total Common Shares Outstanding |
- |
- |
- |
240.0 |
240.0 |
|
Employees |
- |
- |
- |
211 |
323 |
|
Number of Common Shareholders |
- |
- |
- |
10,736 |
10,792 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
150.449123 |
126.479836 |
123.052105 |
131.90608 |
133.585205 |
|
Auditor |
|
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
- |
- |
- |
0.0 |
0.0 |
|
Depreciation |
- |
- |
- |
0.4 |
0.5 |
|
Depreciation/Depletion |
- |
- |
- |
0.4 |
0.5 |
|
Deferred Taxes |
- |
- |
- |
0.1 |
- |
|
Unusual Items |
- |
- |
- |
0.0 |
0.1 |
|
Other Non-Cash Items |
- |
- |
- |
0.9 |
0.9 |
|
Non-Cash Items |
- |
- |
- |
0.9 |
1.0 |
|
Accounts Receivable |
- |
- |
- |
0.2 |
-0.4 |
|
Inventories |
- |
- |
- |
-0.9 |
0.1 |
|
Accounts Payable |
- |
- |
- |
0.7 |
0.1 |
|
Taxes Payable |
- |
- |
- |
0.0 |
0.0 |
|
Other Liabilities |
- |
- |
- |
-0.4 |
-0.2 |
|
Changes in Working Capital |
- |
- |
- |
-0.5 |
-0.4 |
|
Cash from Operating Activities |
- |
- |
- |
0.9 |
1.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
- |
- |
- |
-0.5 |
-0.4 |
|
Capital Expenditures |
- |
- |
- |
-0.5 |
-0.4 |
|
Sale of Fixed Assets |
- |
- |
- |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Investing Activities |
- |
- |
- |
-0.4 |
-0.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
-0.5 |
-0.4 |
|
Financing Cash Flow Items |
- |
- |
- |
-0.5 |
-0.4 |
|
Cash Dividends Paid - Common |
- |
- |
- |
0.0 |
-0.1 |
|
Total Cash Dividends Paid |
- |
- |
- |
0.0 |
-0.1 |
|
Long Term Debt
Reduction |
- |
- |
- |
-0.3 |
-0.5 |
|
Long Term Debt, Net |
- |
- |
- |
0.0 |
-0.7 |
|
Issuance (Retirement) of Debt, Net |
- |
- |
- |
0.0 |
-0.7 |
|
Cash from Financing Activities |
- |
- |
- |
-0.5 |
-1.2 |
|
|
|
|
|
|
|
|
Net Change in Cash |
- |
- |
- |
-0.1 |
-0.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
- |
- |
- |
-1.4 |
-0.8 |
|
Net Cash - Ending Balance |
- |
- |
- |
-1.5 |
-1.4 |
|
Cash Interest Paid |
- |
- |
- |
0.5 |
0.4 |
|
Cash Taxes Paid |
- |
- |
- |
0.1 |
0.0 |
Annual Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
31-Mar-2004 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
126.479836 |
123.052105 |
131.90608 |
133.585205 |
133.765225 |
|
Auditor |
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Turnover |
16.6 |
13.8 |
11.4 |
10.5 |
10.1 |
|
Total Revenue |
16.6 |
13.8 |
11.4 |
10.5 |
10.1 |
|
|
|
|
|
|
|
|
Cost of Sales |
- |
- |
9.3 |
8.3 |
8.0 |
|
Selling and Distribution Expenses |
- |
- |
0.3 |
0.2 |
1.4 |
|
Administrative Expenses |
- |
- |
1.2 |
1.6 |
- |
|
Sale of Scrap |
- |
- |
-0.1 |
-0.1 |
- |
|
Other expenses |
16.0 |
13.5 |
- |
- |
- |
|
Total Operating Expense |
16.0 |
13.5 |
10.8 |
10.1 |
9.4 |
|
|
|
|
|
|
|
|
Interest Payable and Similar Charges |
- |
- |
-0.5 |
-0.4 |
-0.4 |
|
Net Income Before Taxes |
0.6 |
0.2 |
0.1 |
0.0 |
0.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Net Income After Taxes |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Net Income |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
240.0 |
240.0 |
240.0 |
240.0 |
240.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
Basic EPS Including ExtraOrdinary Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
Dilution Adjustment |
- |
- |
- |
0.0 |
- |
|
Diluted Net Income |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Diluted Weighted Average Shares |
240.0 |
240.0 |
240.0 |
240.0 |
240.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Normalized Income Before Taxes |
0.6 |
0.2 |
0.1 |
0.1 |
0.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Normalized Income After Taxes |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.00 |
0.00 |
- |
- |
0.00 |
|
Diluted Normalized EPS |
0.00 |
0.00 |
- |
- |
0.00 |
|
Interest Expense |
- |
- |
0.5 |
0.4 |
0.4 |
|
Depreciation |
- |
- |
0.4 |
0.5 |
0.4 |
|
Rental Expense |
- |
- |
0.3 |
0.5 |
- |
|
Income Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Current Tax - Total |
- |
- |
0.0 |
0.0 |
0.0 |
|
Deferred Tax |
- |
- |
0.1 |
0.0 |
0.1 |
|
Deferred Tax - Total |
- |
- |
0.1 |
0.0 |
0.1 |
|
Education Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Previous Year Under Provision |
- |
- |
0.0 |
0.0 |
- |
|
Income Tax - Total |
- |
- |
0.1 |
0.1 |
0.2 |
|
Defined Contribution Plan |
- |
- |
0.2 |
0.2 |
0.1 |
|
Total Pension Expense |
- |
- |
0.2 |
0.2 |
0.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2006 |
31-Mar-2005 |
31-Mar-2004 |
31-Mar-2003 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate |
128.15 |
132.9 |
133.85 |
129.8 |
|
Auditor |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Raw Materials |
1.5 |
0.7 |
1.3 |
0.6 |
|
Work-in-Progress |
0.2 |
0.2 |
0.0 |
0.0 |
|
Finished Goods |
0.7 |
0.5 |
0.3 |
0.3 |
|
Raw Materials-in-Transit |
0.2 |
0.0 |
0.0 |
0.0 |
|
Spare Parts |
0.2 |
0.4 |
0.2 |
0.3 |
|
Provision for Obsolete Stock |
0.0 |
0.0 |
- |
- |
|
Trade Debtors |
- |
- |
0.9 |
0.7 |
|
Trade Debtors, Gross |
1.6 |
1.2 |
- |
- |
|
Less : Provision |
-0.2 |
0.0 |
- |
- |
|
Other Debtors |
0.4 |
0.8 |
0.6 |
0.5 |
|
Prepayments |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash at Bank and in Hand |
0.1 |
0.0 |
0.0 |
0.1 |
|
Total Current Assets |
4.8 |
3.8 |
3.5 |
2.5 |
|
|
|
|
|
|
|
Leasehold Land and Buildings |
0.9 |
0.8 |
0.8 |
0.8 |
|
Plant, Machinery & Equipment |
5.5 |
5.0 |
4.7 |
4.2 |
|
Mototr Vehicles |
0.3 |
0.3 |
0.2 |
0.3 |
|
Accumulated Depreciation |
-3.3 |
-2.9 |
-2.4 |
-2.0 |
|
Total Assets |
8.2 |
7.1 |
6.9 |
5.7 |
|
|
|
|
|
|
|
Trade Creditors |
2.7 |
1.9 |
1.8 |
1.1 |
|
Other Creditors and Accruals |
0.7 |
1.1 |
1.3 |
0.9 |
|
Taxation |
0.0 |
0.1 |
0.0 |
0.0 |
|
Dividends Payable |
0.0 |
0.0 |
0.1 |
0.0 |
|
Bankers Acceptance and Commercial Papers |
0.4 |
0.2 |
0.0 |
0.3 |
|
Short-Term Loans |
- |
- |
0.4 |
0.1 |
|
Overdrafts |
1.3 |
1.2 |
0.9 |
1.0 |
|
Total Current Liabilities |
5.1 |
4.6 |
4.6 |
3.5 |
|
|
|
|
|
|
|
Term Loan |
0.6 |
0.3 |
0.0 |
0.0 |
|
Total Long Term Debt |
0.6 |
0.3 |
0.0 |
0.0 |
|
|
|
|
|
|
|
Staff Gratuity |
0.2 |
0.1 |
0.1 |
0.1 |
|
Deferred Taxation |
0.4 |
0.3 |
0.3 |
0.1 |
|
Total Liabilities |
6.3 |
5.3 |
5.0 |
3.8 |
|
|
|
|
|
|
|
Share Capital |
0.9 |
0.9 |
0.9 |
0.9 |
|
Share Premium |
0.0 |
0.0 |
0.0 |
0.0 |
|
Capital Reserve |
0.8 |
0.8 |
0.8 |
0.8 |
|
Revenue Reserve |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Equity |
1.9 |
1.8 |
1.8 |
1.9 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
8.2 |
7.1 |
6.9 |
5.7 |
|
|
|
|
|
|
|
S/O-Common Stock |
240.0 |
240.0 |
240.0 |
240.0 |
|
Total Common Shares Outstanding |
240.0 |
240.0 |
240.0 |
240.0 |
|
Full-Time Employees |
211 |
323 |
320 |
322 |
|
Number of Shareholders |
10,736 |
10,792 |
10,948 |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2006 |
31-Mar-2005 |
31-Mar-2004 |
31-Mar-2003 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
131.90608 |
133.585205 |
133.765225 |
125.514413 |
|
Auditor |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
Akintola Williams
Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Income |
0.0 |
0.0 |
0.1 |
- |
|
Depreciation |
0.4 |
0.5 |
0.4 |
- |
|
Interest Expense |
0.5 |
0.4 |
0.4 |
- |
|
Lease Rentals |
0.3 |
0.5 |
0.5 |
- |
|
Loss on Sale of Asset |
0.0 |
0.1 |
0.0 |
- |
|
Provision for Gratuity |
- |
0.0 |
0.0 |
- |
|
Decrease/Increase in Stocks |
-0.9 |
0.1 |
-0.7 |
- |
|
Decrease/Increase in Debtors & Prepaymen |
0.2 |
-0.4 |
-0.4 |
- |
|
Increase in Creditors |
0.7 |
0.1 |
0.8 |
- |
|
Increase in Other Creditors |
-0.5 |
-0.2 |
0.4 |
- |
|
Increase in Taxes Payable |
0.0 |
0.0 |
0.2 |
- |
|
Increase in Deferred Tax |
0.1 |
- |
- |
- |
|
Increase/Decrease in Staff Gratuity |
0.0 |
- |
- |
- |
|
Cash Receipts from Customers |
- |
- |
- |
8.7 |
|
Payments to Suppliers and Employees |
- |
- |
- |
-7.6 |
|
Income Tax Paid |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
0.9 |
1.0 |
1.7 |
1.1 |
|
|
|
|
|
|
|
Proceeds from Sale of Fixed Assets |
0.0 |
0.0 |
- |
- |
|
Capital Expenditure |
-0.5 |
-0.4 |
-0.7 |
-0.6 |
|
Cash from Investing Activities |
-0.4 |
-0.4 |
-0.7 |
-0.6 |
|
|
|
|
|
|
|
Loan Received/(Paid) |
0.3 |
-0.2 |
0.3 |
-0.1 |
|
Interest Paid |
-0.5 |
-0.4 |
-0.4 |
-0.5 |
|
Lease Rentals |
-0.3 |
-0.5 |
-0.5 |
- |
|
Dividend Paid |
0.0 |
-0.1 |
0.0 |
-0.1 |
|
Adjustment |
0.0 |
- |
- |
- |
|
Cash from Financing Activities |
-0.5 |
-1.2 |
-0.5 |
-0.6 |
|
|
|
|
|
|
|
Net Change in Cash |
-0.1 |
-0.6 |
0.4 |
-0.1 |
|
|
|
|
|
|
|
Cash - Beginning of Period |
-1.4 |
-0.8 |
-1.2 |
-1.2 |
|
Cash - End of Period |
-1.5 |
-1.4 |
-0.8 |
-1.3 |
|
Cash Interest Paid |
0.5 |
0.4 |
0.4 |
0.5 |
|
Cash Taxes Paid |
0.1 |
0.0 |
0.0 |
0.0 |
Financial Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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|
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
150.449123 |
126.479836 |
123.052105 |
131.90608 |
133.585205 |
|
Auditor |
|
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
Revenue |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
Total Revenue |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
- |
- |
- |
9.3 |
8.3 |
|
Cost of Revenue, Total |
- |
- |
- |
9.3 |
8.3 |
|
Gross Profit |
- |
16.6 |
13.8 |
2.1 |
2.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
- |
- |
- |
1.5 |
1.8 |
|
Total Selling/General/Administrative Expenses |
- |
- |
- |
1.5 |
1.8 |
|
Other Operating Expense |
- |
16.0 |
13.5 |
- |
- |
|
Other, Net |
- |
- |
- |
-0.1 |
-0.1 |
|
Other Operating Expenses, Total |
- |
16.0 |
13.5 |
-0.1 |
-0.1 |
|
Total Operating Expense |
- |
16.0 |
13.5 |
10.8 |
10.1 |
|
|
|
|
|
|
|
|
Operating Income |
- |
0.6 |
0.2 |
0.6 |
0.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
- |
- |
- |
-0.5 |
-0.4 |
|
Interest Expense, Net Non-Operating |
- |
- |
- |
-0.5 |
-0.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
- |
- |
- |
-0.5 |
-0.4 |
|
Income Before Tax |
- |
0.6 |
0.2 |
0.1 |
0.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
- |
0.2 |
0.1 |
0.1 |
0.1 |
|
Income After Tax |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
Net Income |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
- |
240.0 |
240.0 |
240.0 |
240.0 |
|
Basic EPS Excl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Dilution Adjustment |
- |
- |
- |
- |
0.0 |
|
Diluted Net Income |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
Diluted Weighted Average Shares |
- |
240.0 |
240.0 |
240.0 |
240.0 |
|
Diluted EPS Excl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Diluted EPS Incl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Dividends per Share - Common Stock Primary Issue |
- |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
- |
- |
- |
0.5 |
0.4 |
|
Depreciation, Supplemental |
- |
- |
- |
0.4 |
0.5 |
|
Total Special Items |
- |
- |
- |
0.0 |
0.1 |
|
Normalized Income Before Tax |
- |
0.6 |
0.2 |
0.1 |
0.1 |
|
|
|
|
|
|
|
Annual Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
150.449123 |
126.479836 |
123.052105 |
131.90608 |
133.585205 |
|
Auditor |
|
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
Revenue |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
Total Revenue |
- |
16.6 |
13.8 |
11.4 |
10.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
- |
- |
- |
9.3 |
8.3 |
|
Cost of Revenue, Total |
- |
- |
- |
9.3 |
8.3 |
|
Gross Profit |
- |
16.6 |
13.8 |
2.1 |
2.1 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
- |
- |
- |
1.5 |
1.8 |
|
Total Selling/General/Administrative Expenses |
- |
- |
- |
1.5 |
1.8 |
|
Other Operating Expense |
- |
16.0 |
13.5 |
- |
- |
|
Other, Net |
- |
- |
- |
-0.1 |
-0.1 |
|
Other Operating Expenses, Total |
- |
16.0 |
13.5 |
-0.1 |
-0.1 |
|
Total Operating Expense |
- |
16.0 |
13.5 |
10.8 |
10.1 |
|
|
|
|
|
|
|
|
Operating Income |
- |
0.6 |
0.2 |
0.6 |
0.4 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
- |
- |
- |
-0.5 |
-0.4 |
|
Interest Expense, Net Non-Operating |
- |
- |
- |
-0.5 |
-0.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
- |
- |
- |
-0.5 |
-0.4 |
|
Income Before Tax |
- |
0.6 |
0.2 |
0.1 |
0.0 |
|
|
|
|
|
|
|
|
Total Income Tax |
- |
0.2 |
0.1 |
0.1 |
0.1 |
|
Income After Tax |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
Net Income |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
- |
240.0 |
240.0 |
240.0 |
240.0 |
|
Basic EPS Excl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Dilution Adjustment |
- |
- |
- |
- |
0.0 |
|
Diluted Net Income |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
Diluted Weighted Average Shares |
- |
240.0 |
240.0 |
240.0 |
240.0 |
|
Diluted EPS Excl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Diluted EPS Incl Extraord Items |
- |
0.00 |
0.00 |
- |
0.00 |
|
Dividends per Share - Common Stock Primary Issue |
- |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
- |
- |
- |
0.5 |
0.4 |
|
Depreciation, Supplemental |
- |
- |
- |
0.4 |
0.5 |
|
Total Special Items |
- |
- |
- |
0.0 |
0.1 |
|
Normalized Income Before Tax |
- |
0.6 |
0.2 |
0.1 |
0.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
- |
- |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
- |
0.2 |
0.1 |
0.1 |
0.1 |
|
Normalized Income After Tax |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
- |
0.5 |
0.1 |
0.0 |
0.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
- |
0.00 |
0.00 |
- |
- |
|
Diluted Normalized EPS |
- |
0.00 |
0.00 |
- |
- |
|
Rental Expenses |
- |
- |
- |
0.3 |
0.5 |
|
Normalized EBIT |
- |
0.6 |
0.2 |
0.6 |
0.5 |
|
Normalized EBITDA |
- |
0.6 |
0.2 |
1.0 |
0.9 |
|
Current Tax - Domestic |
- |
- |
- |
0.0 |
0.0 |
|
Current Tax - Total |
- |
- |
- |
0.0 |
0.0 |
|
Deferred Tax - Domestic |
- |
- |
- |
0.1 |
0.0 |
|
Deferred Tax - Total |
- |
- |
- |
0.1 |
0.0 |
|
Other Tax |
- |
- |
- |
0.0 |
0.0 |
|
Income Tax - Total |
- |
- |
- |
0.1 |
0.1 |
|
Defined Contribution Expense - Domestic |
- |
- |
- |
0.2 |
0.2 |
|
Total Pension Expense |
- |
- |
- |
0.2 |
0.2 |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
9 Months |
|
UpdateType/Date |
Reclassified
Special |
Updated Special |
|
Filed Currency |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
126.479836 |
119.577373 |
|
|
|
|
|
Net Sales |
16.6 |
138.8 |
|
Revenue |
16.6 |
138.8 |
|
Total Revenue |
16.6 |
138.8 |
|
|
|
|
|
Gross Profit |
16.6 |
138.8 |
|
|
|
|
|
Other Operating Expense |
16.0 |
138.5 |
|
Other Operating Expenses, Total |
16.0 |
138.5 |
|
Total Operating Expense |
16.0 |
138.5 |
|
|
|
|
|
Operating Income |
0.6 |
0.2 |
|
|
|
|
|
Income Before Tax |
0.6 |
0.2 |
|
|
|
|
|
Total Income Tax |
0.2 |
0.1 |
|
Income After Tax |
0.5 |
0.1 |
|
|
|
|
|
Net Income Before Extraord Items |
0.5 |
0.1 |
|
Net Income |
0.5 |
0.1 |
|
|
|
|
|
Income Available to Common Excl Extraord Items |
0.5 |
0.1 |
|
|
|
|
|
Income Available to Common Incl Extraord Items |
0.5 |
0.1 |
|
|
|
|
|
Basic/Primary Weighted Average Shares |
240.0 |
240.0 |
|
Basic EPS Excl Extraord Items |
0.00 |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
0.00 |
0.00 |
|
Diluted Net Income |
0.5 |
0.1 |
|
Diluted Weighted Average Shares |
240.0 |
240.0 |
|
Diluted EPS Excl Extraord Items |
0.00 |
0.00 |
|
Diluted EPS Incl Extraord Items |
0.00 |
0.00 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Normalized Income Before Tax |
0.6 |
0.2 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.2 |
0.1 |
|
Normalized Income After Tax |
0.5 |
0.1 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.5 |
0.1 |
|
|
|
|
|
Basic Normalized EPS |
0.00 |
0.00 |
|
Diluted Normalized EPS |
0.00 |
0.00 |
|
Normalized EBIT |
0.6 |
0.2 |
|
Normalized EBITDA |
0.6 |
0.2 |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate |
149.95 |
148.1 |
117.065 |
128.15 |
132.9 |
|
Auditor |
|
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
- |
- |
- |
0.1 |
0.0 |
|
Cash and Short Term Investments |
- |
- |
- |
0.1 |
0.0 |
|
Accounts Receivable -
Trade, Gross |
- |
- |
- |
1.6 |
1.2 |
|
Provision for Doubtful
Accounts |
- |
- |
- |
-0.2 |
0.0 |
|
Trade Accounts Receivable - Net |
- |
- |
- |
1.4 |
1.2 |
|
Other Receivables |
- |
- |
- |
0.4 |
0.8 |
|
Total Receivables, Net |
- |
- |
- |
1.8 |
2.0 |
|
Inventories - Finished Goods |
- |
- |
- |
0.7 |
0.5 |
|
Inventories - Work In Progress |
- |
- |
- |
0.2 |
0.2 |
|
Inventories - Raw Materials |
- |
- |
- |
1.7 |
0.7 |
|
Inventories - Other |
- |
- |
- |
0.2 |
0.4 |
|
Total Inventory |
- |
- |
- |
2.8 |
1.8 |
|
Prepaid Expenses |
- |
- |
- |
0.0 |
0.0 |
|
Total Current Assets |
- |
- |
- |
4.8 |
3.8 |
|
|
|
|
|
|
|
|
Buildings |
- |
- |
- |
0.9 |
0.8 |
|
Machinery/Equipment |
- |
- |
- |
5.8 |
5.3 |
|
Property/Plant/Equipment - Gross |
- |
- |
- |
6.7 |
6.1 |
|
Accumulated Depreciation |
- |
- |
- |
-3.3 |
-2.9 |
|
Property/Plant/Equipment - Net |
- |
- |
- |
3.4 |
3.3 |
|
Total Assets |
- |
- |
- |
8.2 |
7.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
- |
- |
- |
2.7 |
1.9 |
|
Payable/Accrued |
- |
- |
- |
0.7 |
1.1 |
|
Notes Payable/Short Term Debt |
- |
- |
- |
1.7 |
1.4 |
|
Dividends Payable |
- |
- |
- |
0.0 |
0.0 |
|
Income Taxes Payable |
- |
- |
- |
0.0 |
0.1 |
|
Other Current liabilities, Total |
- |
- |
- |
0.0 |
0.1 |
|
Total Current Liabilities |
- |
- |
- |
5.1 |
4.6 |
|
|
|
|
|
|
|
|
Long Term Debt |
- |
- |
- |
0.6 |
0.3 |
|
Total Long Term Debt |
- |
- |
- |
0.6 |
0.3 |
|
Total Debt |
- |
- |
- |
2.3 |
1.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
- |
- |
- |
0.4 |
0.3 |
|
Deferred Income Tax |
- |
- |
- |
0.4 |
0.3 |
|
Pension Benefits - Underfunded |
- |
- |
- |
0.2 |
0.1 |
|
Other Liabilities, Total |
- |
- |
- |
0.2 |
0.1 |
|
Total Liabilities |
- |
- |
- |
6.3 |
5.3 |
|
|
|
|
|
|
|
|
Common Stock |
- |
- |
- |
0.9 |
0.9 |
|
Common Stock |
- |
- |
- |
0.9 |
0.9 |
|
Additional Paid-In Capital |
- |
- |
- |
0.8 |
0.8 |
|
Retained Earnings (Accumulated Deficit) |
- |
- |
- |
0.1 |
0.1 |
|
Total Equity |
- |
- |
- |
1.9 |
1.8 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
- |
- |
- |
8.2 |
7.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
- |
- |
- |
240.0 |
240.0 |
|
Total Common Shares Outstanding |
- |
- |
- |
240.0 |
240.0 |
|
Employees |
- |
- |
- |
211 |
323 |
|
Number of Common Shareholders |
- |
- |
- |
10,736 |
10,792 |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
150.449123 |
126.479836 |
123.052105 |
131.90608 |
133.585205 |
|
Auditor |
|
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
|
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
- |
- |
- |
0.0 |
0.0 |
|
Depreciation |
- |
- |
- |
0.4 |
0.5 |
|
Depreciation/Depletion |
- |
- |
- |
0.4 |
0.5 |
|
Deferred Taxes |
- |
- |
- |
0.1 |
- |
|
Unusual Items |
- |
- |
- |
0.0 |
0.1 |
|
Other Non-Cash Items |
- |
- |
- |
0.9 |
0.9 |
|
Non-Cash Items |
- |
- |
- |
0.9 |
1.0 |
|
Accounts Receivable |
- |
- |
- |
0.2 |
-0.4 |
|
Inventories |
- |
- |
- |
-0.9 |
0.1 |
|
Accounts Payable |
- |
- |
- |
0.7 |
0.1 |
|
Taxes Payable |
- |
- |
- |
0.0 |
0.0 |
|
Other Liabilities |
- |
- |
- |
-0.4 |
-0.2 |
|
Changes in Working Capital |
- |
- |
- |
-0.5 |
-0.4 |
|
Cash from Operating Activities |
- |
- |
- |
0.9 |
1.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
- |
- |
- |
-0.5 |
-0.4 |
|
Capital Expenditures |
- |
- |
- |
-0.5 |
-0.4 |
|
Sale of Fixed Assets |
- |
- |
- |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
- |
- |
- |
0.0 |
0.0 |
|
Cash from Investing Activities |
- |
- |
- |
-0.4 |
-0.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
- |
- |
- |
-0.5 |
-0.4 |
|
Financing Cash Flow Items |
- |
- |
- |
-0.5 |
-0.4 |
|
Cash Dividends Paid - Common |
- |
- |
- |
0.0 |
-0.1 |
|
Total Cash Dividends Paid |
- |
- |
- |
0.0 |
-0.1 |
|
Long Term Debt
Reduction |
- |
- |
- |
-0.3 |
-0.5 |
|
Long Term Debt, Net |
- |
- |
- |
0.0 |
-0.7 |
|
Issuance (Retirement) of Debt, Net |
- |
- |
- |
0.0 |
-0.7 |
|
Cash from Financing Activities |
- |
- |
- |
-0.5 |
-1.2 |
|
|
|
|
|
|
|
|
Net Change in Cash |
- |
- |
- |
-0.1 |
-0.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
- |
- |
- |
-1.4 |
-0.8 |
|
Net Cash - Ending Balance |
- |
- |
- |
-1.5 |
-1.4 |
|
Cash Interest Paid |
- |
- |
- |
0.5 |
0.4 |
|
Cash Taxes Paid |
- |
- |
- |
0.1 |
0.0 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2006 |
31-Mar-2005 |
31-Mar-2004 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
126.479836 |
123.052105 |
131.90608 |
133.585205 |
133.765225 |
|
Auditor |
|
|
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
|
|
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Turnover |
16.6 |
13.8 |
11.4 |
10.5 |
10.1 |
|
Total Revenue |
16.6 |
13.8 |
11.4 |
10.5 |
10.1 |
|
|
|
|
|
|
|
|
Cost of Sales |
- |
- |
9.3 |
8.3 |
8.0 |
|
Selling and Distribution Expenses |
- |
- |
0.3 |
0.2 |
1.4 |
|
Administrative Expenses |
- |
- |
1.2 |
1.6 |
- |
|
Sale of Scrap |
- |
- |
-0.1 |
-0.1 |
- |
|
Other expenses |
16.0 |
13.5 |
- |
- |
- |
|
Total Operating Expense |
16.0 |
13.5 |
10.8 |
10.1 |
9.4 |
|
|
|
|
|
|
|
|
Interest Payable and Similar Charges |
- |
- |
-0.5 |
-0.4 |
-0.4 |
|
Net Income Before Taxes |
0.6 |
0.2 |
0.1 |
0.0 |
0.3 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Net Income After Taxes |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Net Income |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
240.0 |
240.0 |
240.0 |
240.0 |
240.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
Basic EPS Including ExtraOrdinary Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
Dilution Adjustment |
- |
- |
- |
0.0 |
- |
|
Diluted Net Income |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
Diluted Weighted Average Shares |
240.0 |
240.0 |
240.0 |
240.0 |
240.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
0.00 |
0.00 |
- |
0.00 |
0.00 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Normalized Income Before Taxes |
0.6 |
0.2 |
0.1 |
0.1 |
0.3 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.2 |
0.1 |
0.1 |
0.1 |
0.2 |
|
Normalized Income After Taxes |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.5 |
0.1 |
0.0 |
0.0 |
0.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.00 |
0.00 |
- |
- |
0.00 |
|
Diluted Normalized EPS |
0.00 |
0.00 |
- |
- |
0.00 |
|
Interest Expense |
- |
- |
0.5 |
0.4 |
0.4 |
|
Depreciation |
- |
- |
0.4 |
0.5 |
0.4 |
|
Rental Expense |
- |
- |
0.3 |
0.5 |
- |
|
Income Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Current Tax - Total |
- |
- |
0.0 |
0.0 |
0.0 |
|
Deferred Tax |
- |
- |
0.1 |
0.0 |
0.1 |
|
Deferred Tax - Total |
- |
- |
0.1 |
0.0 |
0.1 |
|
Education Tax |
- |
- |
0.0 |
0.0 |
0.0 |
|
Previous Year Under Provision |
- |
- |
0.0 |
0.0 |
- |
|
Income Tax - Total |
- |
- |
0.1 |
0.1 |
0.2 |
|
Defined Contribution Plan |
- |
- |
0.2 |
0.2 |
0.1 |
|
Total Pension Expense |
- |
- |
0.2 |
0.2 |
0.1 |
Interim Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
9 Months |
|
UpdateType/Date |
Reclassified
Special |
Updated Special |
|
Filed Currency |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
126.479836 |
119.577373 |
|
|
|
|
|
Turnover |
16.6 |
138.8 |
|
Total Revenue |
16.6 |
138.8 |
|
|
|
|
|
Other expenses |
16.0 |
138.5 |
|
Total Operating Expense |
16.0 |
138.5 |
|
|
|
|
|
Net Income Before Taxes |
0.6 |
0.2 |
|
|
|
|
|
Provision for Income Taxes |
0.2 |
0.1 |
|
Net Income After Taxes |
0.5 |
0.1 |
|
|
|
|
|
Net Income Before Extra. Items |
0.5 |
0.1 |
|
Net Income |
0.5 |
0.1 |
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
0.5 |
0.1 |
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
0.5 |
0.1 |
|
|
|
|
|
Basic Weighted Average Shares |
240.0 |
240.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.00 |
0.00 |
|
Basic EPS Including ExtraOrdinary Items |
0.00 |
0.00 |
|
Diluted Net Income |
0.5 |
0.1 |
|
Diluted Weighted Average Shares |
240.0 |
240.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.00 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
0.00 |
0.00 |
|
DPS-Common Stock |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
0.6 |
0.2 |
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.2 |
0.1 |
|
Normalized Income After Taxes |
0.5 |
0.1 |
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.5 |
0.1 |
|
|
|
|
|
Basic Normalized EPS |
0.00 |
0.00 |
|
Diluted Normalized EPS |
0.00 |
0.00 |
Annual Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2006 |
31-Mar-2005 |
31-Mar-2004 |
31-Mar-2003 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate |
128.15 |
132.9 |
133.85 |
129.8 |
|
Auditor |
Akintola
Williams Deloitte |
Akintola Williams
Deloitte |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Raw Materials |
1.5 |
0.7 |
1.3 |
0.6 |
|
Work-in-Progress |
0.2 |
0.2 |
0.0 |
0.0 |
|
Finished Goods |
0.7 |
0.5 |
0.3 |
0.3 |
|
Raw Materials-in-Transit |
0.2 |
0.0 |
0.0 |
0.0 |
|
Spare Parts |
0.2 |
0.4 |
0.2 |
0.3 |
|
Provision for Obsolete Stock |
0.0 |
0.0 |
- |
- |
|
Trade Debtors |
- |
- |
0.9 |
0.7 |
|
Trade Debtors, Gross |
1.6 |
1.2 |
- |
- |
|
Less : Provision |
-0.2 |
0.0 |
- |
- |
|
Other Debtors |
0.4 |
0.8 |
0.6 |
0.5 |
|
Prepayments |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash at Bank and in Hand |
0.1 |
0.0 |
0.0 |
0.1 |
|
Total Current Assets |
4.8 |
3.8 |
3.5 |
2.5 |
|
|
|
|
|
|
|
Leasehold Land and Buildings |
0.9 |
0.8 |
0.8 |
0.8 |
|
Plant, Machinery & Equipment |
5.5 |
5.0 |
4.7 |
4.2 |
|
Mototr Vehicles |
0.3 |
0.3 |
0.2 |
0.3 |
|
Accumulated Depreciation |
-3.3 |
-2.9 |
-2.4 |
-2.0 |
|
Total Assets |
8.2 |
7.1 |
6.9 |
5.7 |
|
|
|
|
|
|
|
Trade Creditors |
2.7 |
1.9 |
1.8 |
1.1 |
|
Other Creditors and Accruals |
0.7 |
1.1 |
1.3 |
0.9 |
|
Taxation |
0.0 |
0.1 |
0.0 |
0.0 |
|
Dividends Payable |
0.0 |
0.0 |
0.1 |
0.0 |
|
Bankers Acceptance and Commercial Papers |
0.4 |
0.2 |
0.0 |
0.3 |
|
Short-Term Loans |
- |
- |
0.4 |
0.1 |
|
Overdrafts |
1.3 |
1.2 |
0.9 |
1.0 |
|
Total Current Liabilities |
5.1 |
4.6 |
4.6 |
3.5 |
|
|
|
|
|
|
|
Term Loan |
0.6 |
0.3 |
0.0 |
0.0 |
|
Total Long Term Debt |
0.6 |
0.3 |
0.0 |
0.0 |
|
|
|
|
|
|
|
Staff Gratuity |
0.2 |
0.1 |
0.1 |
0.1 |
|
Deferred Taxation |
0.4 |
0.3 |
0.3 |
0.1 |
|
Total Liabilities |
6.3 |
5.3 |
5.0 |
3.8 |
|
|
|
|
|
|
|
Share Capital |
0.9 |
0.9 |
0.9 |
0.9 |
|
Share Premium |
0.0 |
0.0 |
0.0 |
0.0 |
|
Capital Reserve |
0.8 |
0.8 |
0.8 |
0.8 |
|
Revenue Reserve |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Equity |
1.9 |
1.8 |
1.8 |
1.9 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
8.2 |
7.1 |
6.9 |
5.7 |
|
|
|
|
|
|
|
S/O-Common Stock |
240.0 |
240.0 |
240.0 |
240.0 |
|
Total Common Shares Outstanding |
240.0 |
240.0 |
240.0 |
240.0 |
|
Full-Time Employees |
211 |
323 |
320 |
322 |
|
Number of Shareholders |
10,736 |
10,792 |
10,948 |
- |
Annual Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Mar-2006 |
31-Mar-2005 |
31-Mar-2004 |
31-Mar-2003 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
NGN |
NGN |
NGN |
NGN |
|
Exchange Rate
(Period Average) |
131.90608 |
133.585205 |
133.765225 |
125.514413 |
|
Auditor |
Akintola Williams
Deloitte |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
Akintola
Williams Deloitte |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
Net Income |
0.0 |
0.0 |
0.1 |
- |
|
Depreciation |
0.4 |
0.5 |
0.4 |
- |
|
Interest Expense |
0.5 |
0.4 |
0.4 |
- |
|
Lease Rentals |
0.3 |
0.5 |
0.5 |
- |
|
Loss on Sale of Asset |
0.0 |
0.1 |
0.0 |
- |
|
Provision for Gratuity |
- |
0.0 |
0.0 |
- |
|
Decrease/Increase in Stocks |
-0.9 |
0.1 |
-0.7 |
- |
|
Decrease/Increase in Debtors & Prepaymen |
0.2 |
-0.4 |
-0.4 |
- |
|
Increase in Creditors |
0.7 |
0.1 |
0.8 |
- |
|
Increase in Other Creditors |
-0.5 |
-0.2 |
0.4 |
- |
|
Increase in Taxes Payable |
0.0 |
0.0 |
0.2 |
- |
|
Increase in Deferred Tax |
0.1 |
- |
- |
- |
|
Increase/Decrease in Staff Gratuity |
0.0 |
- |
- |
- |
|
Cash Receipts from Customers |
- |
- |
- |
8.7 |
|
Payments to Suppliers and Employees |
- |
- |
- |
-7.6 |
|
Income Tax Paid |
- |
- |
- |
0.0 |
|
Cash from Operating Activities |
0.9 |
1.0 |
1.7 |
1.1 |
|
|
|
|
|
|
|
Proceeds from Sale of Fixed Assets |
0.0 |
0.0 |
- |
- |
|
Capital Expenditure |
-0.5 |
-0.4 |
-0.7 |
-0.6 |
|
Cash from Investing Activities |
-0.4 |
-0.4 |
-0.7 |
-0.6 |
|
|
|
|
|
|
|
Loan Received/(Paid) |
0.3 |
-0.2 |
0.3 |
-0.1 |
|
Interest Paid |
-0.5 |
-0.4 |
-0.4 |
-0.5 |
|
Lease Rentals |
-0.3 |
-0.5 |
-0.5 |
- |
|
Dividend Paid |
0.0 |
-0.1 |
0.0 |
-0.1 |
|
Adjustment |
0.0 |
- |
- |
- |
|
Cash from Financing Activities |
-0.5 |
-1.2 |
-0.5 |
-0.6 |
|
|
|
|
|
|
|
Net Change in Cash |
-0.1 |
-0.6 |
0.4 |
-0.1 |
|
|
|
|
|
|
|
Cash - Beginning of Period |
-1.4 |
-0.8 |
-1.2 |
-1.2 |
|
Cash - End of Period |
-1.5 |
-1.4 |
-0.8 |
-1.3 |
|
Cash Interest Paid |
0.5 |
0.4 |
0.4 |
0.5 |
|
Cash Taxes Paid |
0.1 |
0.0 |
0.0 |
0.0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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 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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.